New-York tribune., 1907-11-18

,oa .ho same terms as the . per cent consols
of 1890 to-w-it: The sen-annual tax upon cir
cuIation notes based upon the SAID bonds as
eac,,-itv will be one-fourth OF j per centum-
--beS will be receivable. like all other United
states bonds. security for public deposits IN
The law forbids their sale at less than par.
and urovides that all citizens OF the United
states shall have equal opportunity to subscribe
In pursuance Of the above announcement the
Secretary invites bids for the bonds heretofore
described which must be submitted to this de-
partnent on or before November 80, 1907 Each
bid should state the amount of bonds desired
hv the subscriber, whether coupon or registered,
the price he is willing 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 assistant treasurers at
New York Baltimore. Philadelphia, Boston, Chi
cago, st Louis, Cincinnati, New Orleans or San
Francisco. All bids should be addressed to the
Secretary of the Treasury division of loans and
currency and the envelopes inclosing them
should be plainly marked, Bids for Panama
Upon receipts and classification OF the bids
hereby invited the successful bidders VIII be
advised of the acceptance of their bids and they
win be instructed as to the date upon which
payment is desired to be made at the Treasury
some sub-treasury of the United States.
In considering bids the bidders Offering the
highest prices will receive the first allotment.
OF two more bidders offering the same prices,
those asking for the smaller amounts of bonds
will receive priority in allotment The depart
ment reserves the right 10 permit bidders offer
ing the highest prices TO increase the amount of
their purchases.
For the sake Of uniformity the bonds will be
dated August ]. 1906, which is the date of the
outstanding Panama Canal bonds, but interest
on the bonds of this issue VIII begin NoNem-
Der l. 1907, and bidders will be required to pay
ACCRUED interest on their bonds from that date
TO Inc date of payment.
The department also reserves the right 70 re-
Ject any all bids. If deemed to be to the in
terests of the United States so to do.
The bonds will be ready for delivery upon re-
ceipt of payment therefor
Prospective bidders desiring information not
1iF In saaEse n
Secretary of the Treasury, division of loans
and currency, Washington. the assistant
treasurers at Chicago st. Louis, New Orleans or
GEORGE B. CoRTELYOU. Secretary.
THE CERTIFICATE CIRCULAR.
The Treasury circular asking for subscrip-
tions to the S1O0!OO0.OO0 3 per cent certificates
of indebtedness reads as follows:
Treasury Department Office Of the Secretary,
Washington, November is. 1907.
The Secretary Of the Treasury offers to the
public at par and accrued interest from NO
Vember 20, 1907, $10O,Oo0,O0O OF the certlhcates
of Indebtedness authorized by Section 81 or the
act of June 13, 1898
The certificates will be issued in denomina-
tions of $50 They will be payable to bearer;
viii be dated November 90. 1907. and will bear
interest at the rate of per cent per annum.
payable with the principal sum on and after
November 20, 1908, presentation of the GER
tifcates for redemption at the Office Of the Sec
retary Of the Treasury division of loans and
currency.
Subscriptions will be received by the secre-
taFy of the Treasury direct or through the
Treasurer OF the United States and assistant
tressurers located at New York, Baltimore.
Philadelphia, Boston, Chicago, st. Louis, Cln-
cinnatf New Orleans and San Francisco, be-
ginning on November 1S and continuing the
discretion of the Secretary of the Treasury. In
order that the certificates may be properly dis
tributed throughout the country, SJ0OO0OO0 will
be allotted by the Secretary in his discretion
upon offers Of subscriptions addressed to him.
and the remaining S50.OO0,000 Will be allotted
through the several assistant treasurers author
lied to receive subscriptions al the following
points:
san Francisco New Orleans ST. Louis Chi
cago. Cincinnati. Boston. Baltimore. Philadel-
pha and New York and through the Treasurer
Of the United States at Washington.
Each subscriber 10 whom certificates have
been allotted should pay in at the sub-treasury
nearest the point of subscription on or before
December ! 1907, the face value of the amount
Of certificates named in the allotment, together
with accrued interest at the rate Of 3 per cent
per annum from November 20, 1907. to the date
AIotments will be made as rapidly possible
and for such subscriptions as are made imTnedi-
ately the Secretary Of the Treasury is prepared
II deliver temporary receipts. bearing interest
from November 20. 1907 pending the delivery
Of the $50 engraved certificates.
GEORGE B. CORTELYOU, Secretary.
Secretary Cortelyou finds authority for the
issue of Panama bonds in Section of the act
approved June IS. 1902. and Section / of the
act approved December n, 1905, as follows:
Section OF the act approved June 2S, 1902.
That the Secretary Of the Treasury is hereby
authorized TO borrow the credit of the United
States from time TO time, as the proceeds may
be required 10 defray expenditures authorized
by this act, such proceeds when received to be
used only for the purpose of meeting such ex-
penditures, the sum of 30,000,000, or so much
thereof as may be necessary, and to prepare and
Issue therefor coupon registered bonds of
the United s. tes in such form as he may pre-
a1n daFOf aiY1af IL Of
multiple or that sum- redeemable in gold coin
al the pleasure of the United States after ten
years from the date OF their issue, and payable
thirty years from such date and bearing inter
est payable quarterly in gold coin at the rate
OF per centum per annum; and the bonds here
IN authorized shall be exempt from all taxes or
duties OF the United States, as well as from
taxation in any form by or under state munich
pal or local authority. Provided. that said
bonds may be disposed of by the Secretary of
the Treasury at not less than par, under such
regulations as he may prescribe. giving to all
citizens Of the United States an equal oppor-
tOnity 10 subscribe therefor, but no commissions
shall be allowed or paid thereon and sum not
exceeding one-tenth Of ] per centum OF the
amount OF the bonds herein authorized is hereby
appropriated, out Of any money I'm the Treasury
Aol otherWise appropriated 10 pay the expense
OF preparing, advertising and issuing the same
Sectlon or the act approved December y,
1SOo That the per cent bonds of the
United states authorized by Section Of the
act entitled An act TO provide for the con-
Struction or canal connecting the waters Of
TIE Atlantic and Pacific oceans approved June
-. 1907. shall have all the rights and privileges
accorded by the law to other per cent bonds Of
ehe United States, and every national banking
association having on deposit, provided by
law, such bonds issued under the provisions Of
SAD Section of said act approved June 2S
l9UZ, 70 secure it's circulating notes shall nav 70
the Treasurer Of the United States in the months
OF January and July tax one-fourth OF l per
cent each half year upon the average amount of
such OF lis notes In circulation as are ba sed
upon the deposit of said > per cent bonds and
such taxes shan be in lien Of existing taxes on