The Washington herald., 1921-01-20
PHILIPPINE BOND
issue AUTHORIZED
FOR MANILA P. |.
To Be in Denominations
of $1,000 and $1,000;
Run Until 1850. e.
TO BE NO TAXATION
Both Principal and Interest
Payable in Gold at
Treasury.

Maj. Gen. Frank Mcintyre. Of the
Bureau Of 1nsulsr Affairs, has just
authorized the following statement
in regard to bids for Philippine
Island bonds:
by direction Of the Secretary of
War and under authority Of the
government Of the Philippine Is
lands, the Bureau Of Insular A.
fairs Of the War Department invites
bids for city Of Manila, Philippine
Island, bonds 10 the face value OF
&2,75O, 600. The bonds are issued un-
der authority contained in act OF
Congress approved August %. 1915,
and an act Of the Philippine IeEisla-
ture approved February -. 1890.
The bonds will be issued in reg
istered form. in denomination OF
81 900 and 5000 each. They will
be dated December /. 1920, will be
redeemable at the pleasure Of the
| city Of Manila Philippine Islands,
1850. with interest at the rate Of 81
per cent per snnUm. payable quar-
terly on March l. June 1. September
and December l Of each year.
Both principal and interest will be
payable at the Treasury Of the
United States in gold coin Of the
United States.
Under the terms OF the act OF
| Congress. approved February ..
1905, all bonds issued by the gov
| ernment OF the Philippine Islands.
OF by its authority, shall be exempt
D u rtH
the United States, or by the govern
ment Of the Philippine Islands or OF
any political or municipal subdivi-
I sion thereof. or by any State. or by
any county. municipality or other
municipal subdivision OF any State or
Territory Of the United States. or BY
| the District Of Columbia
| The present bonded Indebtedness
! Of the city Of Manila amounts 10
100000. and the assessed valua-
| ton OF the property OF the city is
SSS.S67.lS3 so that the proposed
issue is within the Limitation pre-
scribed by law
All bids must be received in the
Bureau OF Insular Affairs. War De
1 partment. Washington, n. c. not
Ilater than = o'clock p. m. JauUarE
IS. 1921. al which time they will h"
! opened in the presence of such bid
I ders as may attend. No hid received
! after that day and hour will be con-
sidered Each bid must be accom-
panied bv a bank draft or certified
check for per cent Of the par value
Of the bonds bid for. said bank draft
or check to be payable 10 the Chief.
Bureau Of Insular Affairs. in New
York City funds Failure by any
bidder to make payment of tn" pur-
chase price of bonds awarded 70
! such bidder at the time and At tn"
place DESIGNATED by the Bureau NJ
TnsuIsr Affairs for such payment.
| will forfeit all right 10 such bonds
and to the check ACCOMPANYING his
bid.
Bids must he inCIosed in "nve-
lopes plainly marked Subscription
for City Of Manila 5lz per cent
bonds. and addressed to the Chief.
Bureau Of Insular Affairs. War De
partment Washington. n. G ThN
subscription or subscriptions. giving
the city Of Manila the highest sc-
ceptahle price in the sale Of the On -
tire offering. will he accepted. hut
no bid 81 less than par and interest
can he considered. Unless otherwis..
stated in the hid. each bid will hN
understood as being for all or Env
part OF the bonds applied for. II the
hid makes no mention Of accrued
interest il will bc understood that
accrued interest from December I.
1920. is offered nv the bidder in sd-
dition to the price named Tor IN"
bonds The right is reserved by m"
Bureau of InsUlar AEairs. War Dc
pa rtment. 10 reject any or all bids
Accepted subscriptions will he pay
able on February (. 1921. Al bank
in New York City to be designated
by the Bureau of Insular Arslrs
War Department. and tho bank 81
designated will make delivery ~
the bonds. or. II necessary. interim
, certificates exchanEeahlc for tho de-
6nitive bonds as soon as thcy can
he issued"
During the session of 1919 ana
1890 Texas suffered a shortage ~
. 400 teachers.