The Montgomery advertiser., 1907-11-18
F Johnstone & Co.
 Cotton Merchants and Exporters M Cotton Bought in Alabama and Mississippi.
 Branch Offices Troy and Dothan Ala and Jackson. Miss.
Cotton Merchants and E

Currency. and the envelope enclosing them should be plainly marked Bids for Panama Canal Bonds"
 Upon receipt and classification of the bids herebE invited the successful bid ders win be advised of the acceptance of their bids and they will be instruct ed 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 re- ceive the first allotment. If two or more bidders offer the same price. those asking for smaller amounts of bonds will receive priority in allotment. The department 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 1. 1906, which Is the date of the outstanding Panama canal bonds. but interest on the bonds of. this issue will begin November l, 1907 and bidders will be required to pay accrued interest on their bonds from that date to the date of payment.
 The department also reserves the right to reject any or all bids If deem, ed to be to the interest or the Uniteo States so to do.
 The bonds will be ready for delivery upon receipt of the payment therefor.
 Prospective bidders desiring yinforma- tion not contained in this circular may address the secretary of the treasury. division of loans and currency, Wash ington, D. C., the assistant treasurers at Chicago, St Louis, New Orleans or san Francisco.
 aGeorge B. cortelyou. Secretary"
 Circular For Certifieateh.
 The treasury circular asking for subscriptions to the $100,0e0.00e three per cent certificates of indebtedness reads as follows:
 , Treasury Department.
 Office of the Secretary,
 Washington. Nov. 16. 1907
 The Secretary of the Treasury offers to the public at par and accrued inter est from November 20. 1907. $10o.ooo0ee of the certificates of indebtedness au- thorized by Section 32 of the act of June la, 1906 The certificates will be issued in denominations of $5e. They will be payable to bearer; will be dated November 90, 1907, and will bear inter est at the rate of per cent per an- mum, payable with the principal sum on or after November 20, 1903. on presen-l tation of the certificates for redemp- tion at the office of theS Secretary Of the Treasury. division of loans and currency. Subscriptions will be received by the Secretary of the Treasury direct or through the Treasurer of the United States, and the assistant treasurers los cated at New York, Baltimore. Phila- delphia, Boston, Chicago, St. Louis, Cincinnati, New Orleans and San Fran cisco, beginning on November IS and continuing at the discretion of the Sec retary of the Treasury. In order that the certificates may be properly dis tributed throughout the country. $50,- O00,000 will be allotted by the Secretary in his discretion upon offers of sub scriptions addressed to him and the re- maining S50,0O0,000 will be allotted through the several assistant treasur- CTS authorized to receive subscriptions at the following points: San Francis co. New Orleans. St. Louis, Chicago, Cincinnati. Boston. Baltimore, Phtla- delphia and New York, and through the. Treasurer of the United States at Washington.
 Each subscriber to whom certificates have been allotted should pay in at the sub-treasury nearest the point of subscription, on or before, December 1, 1907, the face value of the amount of certificates named in the allotment, to- gether with accrued interest at the rate of 3 per cent per annum from Mo- vember 20,l 1907, to the date of pay. ment.
 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 from November 20- 1907, pending the delivery of the $50 engraved certfH- cate.
 (signed) George B. cortelyOu
 Secretary,