Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-08-25
THE FUNDING SCHEME.


Representatives of foreign banking
houses teIegraphed on yesterday several
long messages to the Rothschilds in re-
gard to the probability OF the secretary
OF the treasury ofsring the four per
cent. bonds in lieu of the four and half,
and asking what proposition might be
made IL the houss desired to be com.
petitor. The Law does not allow the Sec
rotary to sell for less than par in gold, as
the same amount of six per cent. bonds
must be redeemed IS bonds bearing q
lower rate of interest are sold. The New
York bankers have all made their pro.
positions in writing for the fur and a
half per cent bonds. Secretary Morrill,
is unwell, and will not consider the bids
for several days. I
THE PRESIDENTS MARCHING ORDER
Louisville Courier Journal.l
The order of the President, by which
Scott Lords preamble and resolution
were incorporated in the letter OF in
s!ructions to General Sherman to garri-
con the nth with troops for election
purposes, was purposely designed to be
offensive to the Democratic party,
though the order would have bsen is
sued Just the same had such resolution
never been offered in the house. Several
weeks ago the President said he was in
q quandary SIS to the proper way of pro-
mitigating such an order. The evidence
in his possession, he said, warranted
most any step; but he did not think it
advisable to make public the inforns-
ton at present. An appeal has been
made to send several companies of in.
fantry into the fourth district of Wiz.
ginia, which Is the only one in that
State sending Republican member o
congress. The object is not 30 much to
secure The return of Republican con.
gresham as to utilize the large negro
vote in that section, with the possible
hope of making the aggregate vote count
In favor Of the Republican electors for
President.
A 100000, 900 BOND CONTRACT.
WASHINGTON, August 24.-The sec.
rotary of the treasury to-day concluded
a contract for the sale of three hundred
million dollars of four and q half per
cent bonds, under the funding acts OF
1901, and due in 1891. The combina.
ton unites the three parties who have
been competing for them. The amount
taken by each firm is forty millions at
par and interest, less one.hRlf per cent.
commissions, out of which all expenses
are to be betrayed, including the prepa-
ration and delivery of the bonds. The
combination embraces N. M. R)ths.
childs & Sons, J, 8. Morgan & Co., Mar
ton, Rose q Co., and Seligmsn Bros, of
London; Drexel & Co., Of Philadelphia;
DrexeI, Morgan & Co., and J. and w.
Seligman & Co., II New York; the First
national bank of the city OF New York,
and Morton, Bliss & Co., representing
the American association. The secreta-
ry of the treasury will shortly Issue calls
for the redemption of fve-twenty bonds
against the negotiation.
PENSION OFFICE AND BUREAU OF EDU.
CATION.
The secretary of the interior has leased
from Ex-Governor Shepperd the upper
portion of the new fire-proof building
On Pennsylvania avenue and Twelfth
street, for the use of the pension Office
and bureau Of education, at an annual
rental OF fifteen Thousand dollars. The
legislative appropriation bill gives four
teen thousand dollars for this purpose
Shepperd will heat the building, hence
the increase Of rental over the appro-
priation.
MOVEMENTS OF TROOPS IN THE SOUTH.
A general order from the war depart.
ment directs Colonel Ruger, on ASSUME
ing command Of the department Of the
south, on or about Septemher't1 LIST, to
transfer the headquarters Of the depart
ment to Atlanta, Georgia. The COM
panies of the second infantry how in the
department of the gulf will be transfer
red to the department of the south, and
the headquarters and the companies Of
the Sixteenth infantry now in that de-
partment will De transferred to the de-
partment of the gulf.