Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-07-02
CANAL BONDS OFFERED
Thirty Millions to Be Raised by
Secretary Shaw.
BEAR 2 PER CENT INTEREST
Redeemable at Governments Pleasure
After Ten Years.
BIDS TO BE MADE BY JULY 20
New Loan Will Be Exempt From
Federal Taxes and Will Be Avail
able as Security for Circulation.

Secretary Shaw today offered to the pub
Hc $30.OO0,0G0 Of bonds Of the Panama canal
loan authorized by the recent act Of Con-
gress. The bonds will bear interest at
the rate Of 2 per cent will be dated August
l. 1906, and interest will be payable quar-
terly They will be redeemab!o at the
pleasure of the government after ten years
from date Of issue and will be payable
thirty years from date.
The bonds will be exempt from taxes or
duties Of the United States, ana will be
available to national banks as security for
circulation. The bonds will not be SOLD foI
less than par; all citizens will havs equal
opportunity to subscribe for them, and the
bids for them must be submitted to the
department on or before July 90 1908.
The statement issued by Secretary Shaw
is as follows
The Secretary Of the Treasury offers 20
the public 10000, 600 Of the bonds of the
Panama canal loan, authorized by section
s Of the act approved June 2S. 1902 and
supplemented by section / OF the act OF
December 21, 1905 Both acts are quoted
below.
The bonds will bear interest at the rate
OF per cent per annum: will be dated
August ], 1905. and the interest will be
paid quarterly on the first days Of Eovem-
per, February, May and August. They viii
*1,W0 of coupon bonds, and O. 500. 800,
S1.UOO and $4,000 Of registered bonds Ttey
Will be redeemable in United Statas gold
coin, at the pleasure of the United States
after ten years from the date OF their Issue
and will be payable thirty years from such
date. They will be exempt from all taxes
or duties of the United States, as We'll as
from taxation in any form by or nn5er
state, municipal or local authority. They
Will be available to national ban.is as Sc
curlty Tor circulating notes upon the same
terms as the per cent conSols o. 1896 to
wit: The semi-annual tax upon circuIari ling
notes based upon the said uonds ns Sc
curtty will be one-fourth of a pe- ceu.l,m
They will be receivable, like ali ether
United States bonds, as security for public
deposits in national banks
The law forbids their sale at less than
par and provides that all citizens OF the
United States shall have equal opuort,1nftv
to subscribe therefor
In pursuance of the above announce
ment, the Secretary invites bids for the
bonds heretofore described which must he
submitted to this department on or before
the 2Oth of July, 1905. The bids should
state the amount of bonds desired by the
subscriber, the price he is willing to nav
and the place where he desires to make
payment-whether at the treasury of the
United States, or at the office of some one
OF the assistant treasurer at New
ton. Chicago. st. Louis, Cincinnati,
New Orleans, or San Francisco. Ali
bids should be addressed to the Secretary
OF the Treasury, division OF loans and cur
rency. and the envelopes enclosing them
should be plainly marked Bids for Pana-
ma Canal Bonds
Upon receipt and classification of the
bids hereby invited the successful bidders
VIII be advised Of the acceptance of their
bids, and they will be instruced as to the
date upon which payment is desired to be
made at the treasury or some subtreasury
of the United States.
In considering bids, the bidders Offering
the highest prices will receive the first
allotment. OF two or more bidders offer
Ing the same price, those asking for the
smaller amounts Of bonds Will receive prior
ity in allotment. The department reserves
the right to permit bidders Offering the
highest prices to increase the amounts of
their purchases.
The department also reserves the right
to reject any or all bids II deemed to be
to the interests of the United States SO to
do.
THE bonds will be ready for delivery
about August /, 1905.
Prospective bidders desiring information
not contained in this circular, may address
the Secretary of the Treasury, division of
loans and currency, Washington, D. c.. the
assistant treasurers at Chicago, St Louis.
New Orleans, or San Francisco
IL. NJ. SHAW,
Secretary"