The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-11-18

million dollars will be allotted by the
secretary in his discretion upon oHerS
the remaining $50,00O,000 will be al
lotted through the several treasurers
authorized to receive subscriptions at
the following points: San Francisco
New Orleans. st. Louis, Chicago, Cln-
cinnati, Boston, Baltimore, PhiladeI-
phia and New York and through the
treasury of the United States at WASH
ington.
Each subscriber to whom certifi-
Gates have been allotted should pay IN
at the subtreasury nearest the point OF
subscription on or before December l.
1907, the face value of the amount or
certificates named in the allotment to-
gether with accrued interest at the rate
of per cent per annum from Novem-
Der 20, 1907, to the date of payment.
"Allotments will be made as rapidly
as possible and for such subscriptions
as are made Immediately the secretary
of the treasury is prepared to deliver
temporary receipts. bearing interest,"
delivery of the fifty dollar engraved
certificates. (Signed.)
GEORGE B. CORTELYOU,
Secretary"
Authority for His Action.
Secretary Cortelyou finds authorization
for the issue of Panama bonds in section
of the act approved June g 1907, ana
section of the act approved December 4,
proved June g 1902: ':That the secretary
of the treasury is hereby authorized to
borrow on the credit of the United States
from time to time as the proceeds may be
required to defray expenditures authorizeQ
by this act, (such proceeds when received
to be used only for the purpose OF meeting
such expenditures), the sum of one hun
bred and thirty million dollars. or so much
thereof as may be necessary, and to pre-
pare and issue therefor registered bonds
of the United States in such form as ne
and Of IN t6at
in gold coin at the pleasure of the United
States after 10 years from the date OF
their issue, and payable 30 years from
such date, and bearing interest payable
quarterly in gold coin at the rate OF per
cent annum: and the bonds herein au-
thorized shall be exempt from all taxes
and duties of the United States as well as
from taxation in any form by or under
vided, that said bonds may be disposed Of
by the secretary of the treasury at not
less than par under such n regu ctiHens of
the United States an equal opportunity TO
subscribe therefor but no commission
shall be allowed or paid thereon and
sum not exceeding one-tenth of 1 per cent
of the amount of the bonds herein author
lied is hereby appropriated, out OF any
money in the treasury not otherwise ap-
propria ted to pay the expenses OF prepar-
ing, advertising and issuing the same
Der p, 1905, that the per cent bonds of
the United States authorized by Section
waters of the Atlantic and Pacific
approved June %, 1902, shall have
all the rights and privileges accorded by
law to other two per cent bonds of the
United States and every national banking
having on deposit as provided
in the law such bonds issued under the
provisions of said section of said act,
approved June Is, 1902, to secure its con-
trolling notes shall pay to the treasurer
of the United States in the months of Jan
uary and July a tax of per cent each
half year upon the average amount of
such of its notes in circulation as are
based upon the deposit of said two per
cent bonds and such taxes shall be in lieu
of existing taxes on it's notes in circula-
ton imposed by section SPA of the revised
statutes"