The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-11-18
CANAL BONDS CIRCULAR.
They Will Bear 2 Per Cent and Be
Redemable i'm Ten Years.

Washington. Nov. 18.-The treasury
circular inviting proposals for the ca
nal bonds reads as follows: THE sec
rotary of the treasury offers to the pub
lie 0.000, 900 of the bonds of the Pana-
ma canal loan authorized by section
eight of the act approved June 20, 1902,
and supplemented by section one of the
act of December 81, 1905. Both acts are
quoted below:
THE bonds will bear interest at the
rate of per cent per annum; Will De
dated August 1. 1906, and the interest
will be paid quarterly on the first days
of November, February, May and Aug
ust. They will be issued in denomina-
tions of $40, 500 and $1,000 of coupon
bonds, and of $40, 500, $1,000 and $10,-
900 of registered bonds. They will be
redeemable in United States gold coin
at the pleasure of the United States af-
ter ten years from the date of this is
sue, and will be payable 80 years from
such date. They will be exempt from
as we'll as from taxation in any form
by or under state, municipal or local
authority They will be available to
national banks as security for circulat-
2 per cent consols of 1903, towit:
1.-The semiannual tax upon circulat-
ing notes based upon the same bonds
as security will be one-fourth of 1 per
cent. They will be receivable IKE an
other United States bonds, as security
for public deposits in national banks.
! ssThe law forbids their sale at less
than par and provides that all citizens
of the United States shall have equal
to subscribe therefor.
I'm 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 30th of November, 1907 Each
bid should state the amount of bonds
desired by the subscriber, whether cou-
pom or registered-the price he is will
ing to pay and the place where he de-
sires to make Observation-Disclosures at the
treasury of the United States or at the
office of some one of the assistant
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 envel-
opes inclosing them should be plainly
marked, Bids for Panama Canal
Bonds
Upon receipt and classification of the
bids hereby invited, the successful bid
ders will be advised of the acceptance
of their bonds, and they will be instruct
ed as to the date upon when paymenl
is desired to be made at the treasury
department or some subtreasury of the
United States.
I'm considering bids, the bidders Of
fering the highest price will receive the
first allotment. OF two or more bidders
for the smaller amounts of bonds will
receive priority in allotment. The de-
partment reserves the right to permit
bidders offering the highest price to
increase the amount of their purchases.
For the sake of uniformity the
bonds will be dated August 1, 1906
which is the date of the outstanding
Panama canal bonds, but interest on
the bonds of this issue will begin No
vember 1, 1907. and bidders will be re-
quired to pay accrued interest on their
bonds from that date to the old date
Of payment.
"The department also reserves the
right to reject any or all bids If deem
ed to be to the interests of the United
States to do.
1.-The bonds will be ready for delivery
upon receipt of payment therefor.
Prospective bidders desiring infor-
nation not contained in this circular
may address the secretary of the treas
ury division of loans and currency,
Washington, D. C., the assistant treas
urers at Chicago, St. Louis, New Or
leans and San Francisco. CSigned)
GEORGE B. CORTELYOU,
tor