reserves the right to terminate
this contract at any time after March 4, 1877, by giving ten days'
notice thereof to the parties of the second part.

"Third. That the Secretary of the Treasury shall, when subscriptions
are made by the said parties of the second part, issue calls with
even date with said subscriptions for the redemption of an equivalent
amount of six per cent. 5-20 bonds of the United States, as provided
by said act of July 14, 1870.

"Fourth. The parties of the second part agree to pay for said four
and a half per cent. bonds par and interest accrued to the date of
application for delivery of said bonds, in gold coin, matured United
States gold coin coupons, or any of the six per cent. 5-20 bonds
called for redemption, or in United States gold certificates of
deposit issued under the act of March 3, 1863, with the understanding
that payment to the extent of the amount of any call shall be made
within the time during which such call shall mature: _Provided_,
That, if the parties of the second part shall elect so to do, they
may have the privilege of making any of said subscriptions payable
specifically in uncalled six per cent 5-20 bonds of the United
States, in which case the Secretary of the Treasury may, to the
extent of such payments, omit the calls mentioned in condition No. 3.

"Fifth. The parties of the second part shall receive in coin a
commission of one-half of one per cent. on all bonds taken by them,
as allowed by the act of July 14, 1870, and shall assume and defray
all expenses which may be incurred in sending bonds to London upon
their request, or by transmitting bonds, coupons, or coin from
there to the treasury department at Washington, including all cost
of making exchange of bonds, and shall also be charged with the
preparation and issuing of the bonds.

"Sixth. No bonds shall be delivered to the parties of the second
part, or either of them, until payment shall have been made in full
therefor in accordance with the terms of this contract.

"Seventh. During the continuance of this contract any sales of
bonds ordered by the Secretary of the Treasury, by authority of
law, except those that it may become necessary to sell to pay
judgments of the Court of Commissioners of Alabama Claims, shall
be made through the parties of the second part, who shall be allowed
thereon a commission of one per cent. in gold coin. And it is
provided that the amount of bonds so ordered shall not