The Birmingham age-herald., 1907-11-18
The Canal Bonds.
Treasury Department,
 Office of the Secretary

Washington, D. C. Nov. IS, 1907. The Secretary of the Treasury offers to the public $50,0 900 of the bonds of the Panama canal loan authorized by section of the act approved June 2s, 1902, and supplemented by section 1 of the act of December 21, 1905. The bonds will bear interest at the rate of per cent per annum, will be dated August 1, 1906, and the interest will be paid quarterly on the first days of November, February, May and Au- gust. They will be issued in denomi- nations of $20 S100 and 5000 of cou- pon bonds and of $20, S100, 5000 and S10, 900 of registered bonds. They will be redeemable in United States ebld 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 from the United States as we'll as from tax ation in any form by or under state, municipal, or local authority. They will be available to national banks as security for circulating notes upon the same terms as the per cent consols of 1930, to-wit: The semi-annual tax upon circulating notes based upon the said bonds as security will be one- fourth of l per cent per annum. They will be receivable like all other United States bonds as security for public debts In national banks.
 The law forbids their sale at lower than par and provides that all citizens of the United States shall have equal opportunity to subscribe therefor.
 Invites Bids.
 In pursuance of the above announce ment, the secretary invites bids for the bonds heretofore described which must be submitted to this department on or before the November 30, 1907 Each bid sh ould state the amount of bonds de- sired by the sub scriber whether cou- pon or registered the price he is will Ing to pay, 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 assist ant treasurers at New York, Baltimore, Philadelphia, Boston, Chicago. St. Louis, Cincinnati, New Orleans or San Fran cisco.
 All bids should be addressed to the Secretary of the Treasury, division of loans and currency, and the envelope enclosing them should be plainly marked Bids for Panama canal bonds.'
 Upon receipt and classification of the bids hereby invited, the successful bidders will be advised of the accept ance or tne1r DluS ana they Will De m structed as to the date upon which payment Is desired to be made at the treasury or some sub-treasury of the United States
 In considering the bids, the bidders offering the highest prices will receive the first allotment If two or more bidders offer the same price, those ask ing for smaller amounts of bonds will receive priority in allotment. The de- parrment reserves the right to permit bidders offering the highest prices to increase the amount of their purchases. For the sake of uniformity, the bonds will be dated August l, 1906. wN' the date of the outsta
 canal bonds, but interes
 of this issue will begin
 1907, and bidders will pay accrued interest or from that date to the dat
 The department also right to reject any or deemed to be to the int, United States so to do. The bonds will be ready upon the receipt of paymen f.=tr Prospective bidders desiring
 not contained in this circul dress the Secretary Of the : vision of loans and currenc. ton, D. C., the assistant tr Chicago, St. Louis, New Orle Francisco
 GEORGE B. CORTl ast