and that Messrs.
Drexel, Morgan & Co., on behalf of Messrs. J. S. Morgan & Co., of
London, England, hereby agree to purchase from the Secretary of
the Treasury six million seven hundred and fifty thousand dollars
($6,750,000) of the bonds hereinbefore described; and that Messrs.
Morton, Bliss & Co., of New York, representing the First National
Bank of the city of New York, to the extent of four million dollars
($4,000,000); the American Exchange National Bank of New York, to
the extent of one million and fifty thousand dollars ($1,050,000);
the Merchants' National Bank of New York, to the extent of six
hundred thousand dollars ($600,000); the Third National Bank of
the city of New York, to the extent of seven hundred and fifty
thousand dollars ($750,000); Messrs. Kuhn, Loeb & Co., of New York,
to the extent of one million and fifty thousand dollars ($1,050,000);
the Bank of New York National Banking Association, to the extent
of three hundred thousand dollars ($300,000); Messrs. Morton, Rose
& Co., of London, to the extent of one million one hundred and
twenty-five thousand dollars ($1,125,000), and Messrs. Morton,
Bliss & Co., of New York, to the extent of one million one hundred
and twenty-five thousand dollars ($1,125,000), hereby agree, to
the extent severally for each as above stated, to purchase from
the Secretary of the Treasury ten million dollars ($10,000,000) in
the aggregate of the bonds hereinbefore described, making a total
aggregate of forty million dollars ($40,000,000), upon the terms
and conditions following, to-wit:

"First. Of the said aggregate amount, not less than ten million
dollars ($10,000,000) are hereby subscribed for, the subscription
to take effect on the 1st day of September, 1876, and the remaining
amount, namely, thirty million dollars ($30,000,000), may be divided
at the pleasure of the parties of the second part into several
successive subscriptions of not less than five million dollars
($5,000,000) each, to be made prior to the 4th day of March, 1877.

"Second. The parties of the second part shall have the exclusive
right to subscribe, in the same proportion to each of the subscribers,
for the remainder, namely, two hundred and sixty million dollars
($260,000,000), or any portion of said loan authorized to be issued
by the acts of Congress aforesaid, by giving notice thereof to the
Secretary of the Treasury on or before the 30th day of June, 1877;
but the party of the first part