Rensselaer Democrat, Volume 1, Number 11, Rensselaer, Jasper County, 24 June 1898 — ABOUT THE BONDS. [ARTICLE]

ABOUT THE BONDS.

THE war loan which is now being offered will be sold to subscribers at par during the period of subscription, which ends July 14, 1898. The method of subscription has been made as simple as possible. Blank forms may be obtained at every money order postoffice, and at most of the banks and express offices, and on these forms is clearly indicated all that it is necessary for the subscriber to fill out. The subscriber may himself mail to the Treasury Department at Washington the blank form filled out, together with his remittance covering the par value of the amount of bonds for which heywishes to subscribe. That remittance may be in whatever form best suits the subscriber’s convenience—in currency, bank draft, check, postoffice money order, or express money order. The day the currency is received, or the day the proceeds are received from the checks, drafts or money orders, the subscription will be entered and will immediately begin drawing interest. When the bonds are delivered, a check will accompany each delivery covering the interest at 3 per cent from the day the subscription is entered to the Ist of August, the date of the bonds, and from which date the bonds will carry their own interest. Following is a part of the circular issued by Secretary Gage explaining the bond issue:

The Secretary of the Treasury Invites sat>ecrlptJons from the people of the United States for $200,000,000 of the bonds of the 3 per cent, loan authorised by the act of Congress approved June 13, 1898. Subscriptions will be received st par for a period of thfrty-four days, the subscription being opetf from this date to 3 o’clock p. m. on the 14tli day of July, 1898. The bonds will bo Issued in both coupon and registered form, the coupon bonds In denominations of S2O, SIOO, SSOO and SI,OOO, and the registered bonds In denominations of S2O, SIOO, SSOO, SI,OOO, $5,000 and SIO,OOO. They will be dated Aug. 1, 1898, and by their terms will be redeemable in coin at the pleasure of the United States after ten years from the date Of issue, and due and payable Aug. 1, The bonds will bear Interest'at the rate of 3 per cent, per annum, payable quarterly, the interest on the coupon bonds will be paid by means of coupon*, to be attached from the bonds as the Interest becomes due, and the Interest on the registered bonds will be paid by checks drawn to the order of the payees and mailed to their addresses. The law authorizing this Issue of bonds provides that in allotting said bonds the several subscriptions of individuals shall be first accepted, and the subscriptions for the lowest amounts shall be first allotted. In accordance with that provision, allotments to all individual suisscrlbers will be made before any bonds will be allotted to other than Individuals. AH Individual subscriptions for SSOO or less will be allotted In foil as they are received, and such subscriptions must be paid in full at the time the subscription Is made. If the total sum subscribed for In amounts of SSOO or less should exceed $200,000,000 the allotments will be made according to the priority of the receipt of the subscriptions. Allotments on subscriptions for over SSOO will not be made until after the subscription doses, July 14, and will then be made inversely according to the size of the subscription, the smaKe»t subscription being first allotted, then the next in size next, and so on, preference being given t<X Individual subscriptions. Persons subscribing for more than SSOO must send in cash or certified checks to the amount of 2 per cent, of the sum subscribed for, such deposit to constitute a partial payment, and to be forfeited to the United States in the event of failure on the subscriber’s part to make full payment for his subscription, according to the terms of the circular. Allotments to subscribers for more than SSOO will be made as soon as possible after the subscription closes. In order to%avold a too rapid absorption of funds into the treasury, with a possible consequent evil effect on Industry and commerce, any subscriber for more than SSOO will be permitted to take his allotment of bonds In installments of 20 per cent., taking the first Installment within ten days after the notice of the allotment, and the balance at four equal Intervals of forty days each In four Installments each of 20 per cent, of the bonds allotted. Delivery of bonds will be made In installments as payment for them Is received, and payment must in all cases be made in full as the bonds are taken. Tue 2 per cent, deposit will apply on the final Installment. • • • For the mutual convenience of the subscribers and the department a blank form of letter to accompany remittances has been prepared and It may be obtained at the offices of national and State banks generally, at the several subtreasuries of the United States, at any money order postoffice and at any express office. The bonds will be dated Aug. 1, 1808, and they will be delivered to subscribers free of expense for transportation as soon after that date as possible. The bonds will be accompanied by a check for the amount of interest due the subscriber from the date of his payment to Aug. 1, 1898. All remittances and other commiinicatlons relative to this loan should be addressed to the Secretary of the Treasury, division of loans and currency, Washington, D. C. All subscriptions must be received at the Treasury Department, Washington, D. C., not later than 3 o’clock p. m., Wednesday, July 14, 1898. No subscriptions received after that date and hour will be considered. L. J. GAGE, Secretary.