New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-08-16

SYNDICATE MlSA NDEILS laNDI-fu
ONLY THE MEMBERS OF TIE OLD SYNDICATE Az
FRCTED-THE OPERATIONS on TIE NEW ORGAN
1zAr1oS Nor oBsrRUcrED-So HARM TO The
-FOUR PER CENT LOAN.
Members of the Syndicate, having charge of
he new four per eonsos report that the loan con-
times 10 meet with all favor that could have been
anticipated by them. 1t was not expected they say
that subscriptions FOR large sums would continue
10 be made for some time after the expiration OF the
period during which the new bonds could be OBJ
tanned At par The amount subscribed during that
n,rod was so much greater than the most sangnc ad
vocates OF loan expected that the entire time OF
thu syndicate has since occupied IN closing the &C
connts for the subscriptions already received and arrlng
n for the delivery OF the bonds This Work has not yet
been completed everything il going on salts iactoy
Notwithstanding the pated delay just referred TO-
and he unsettled condition OF the finances OF the conh
try following the recent strikes members Of the Synu
.ata sid Yesterday that subscriptions 10 the new loan
ware received daily for small amounts. II tkere should
be comparatively easy money market during the ran
month"; they expect great improvement IN the puDhe
demand for the per cent consos after the next thirty
days -
n wa stated Yesterday by different members Of the
new Syndicate that perfect harmony aud good feeling
rresaied among all the From the best inor-
NATION that could obtained It appea s. however that
Misunderstanding exists between the n III OF MORTON
Bliss d CO. and Of the bankers assocla'eu Win
them i'm the Syndicate when had charge OF the IL
NOR cent loan Persons representing Morton, Bliss ~
IN and their former well ~ other persons
having edge the circumstances OF the case say
that this Misunderstanding does not and cannot IN any
way affect the new loan
The Syndicate controlling the 4l2 per cent bonds wa.
cornosed Of the Rothschids Drexe * Co., seigman *
70 Mortoa Bliss & Co.. Winslow, Lannier Co., opsr-
.ting through the Third National Bank Kuhn Loeb *
Co the United Trust Company anu the Merchants
American Exchange Third and the Bank Of NeW-fork
National banks For the purpose OF simpiiiylhg mat
.srs and facilitating the transaotOns OF DuSihvss
Merton. Bss * Co. were authorized 10 10 slo
risricnl work Of the Syndicate ana 10 sSh ioi
| tbe,r as.ociatiOns. IL alleged yesterday tnAs
ON lime o. 1877 Morton Bliss Co surrendered an uo
Syndicate IN SlOO,uOOoOo OF tue ~ per
cent loan the Government, and on the same uay Lie
anew contract with the Secretary OF tue treasury lor
National Banks above mentiOned-M lunivn, i+inIsr IN
/ co Kuhn, Loeb Co.. and the United states II'St
/ Conpany-weTc left out, the new ayndeate Osi"t
! tna.e up the kOthscnlids, August B-lmoilt a.
4 ~ Drexel Il Co., Drexel, Morgan q Co.. seHg
man & Co. Morton, Bliss ~ Co. aud the First NAohai
/ Rank claimed by some OF those VINO "cre el1
ont that the action Morton, Blise Co wa unduthO-
,ed by thrr associates aud thai damages might DE re
| Law. Counsel have Dcrn cOnshibrn on oo'
aides nut no before the Courts has Dseh TAKEN anu
/ no one could be found yesterday VINO was "iaInh
ton Bliss Co declined To cay anything ABOUT tue mat
ter for the present. and persons representing those Nno
have been left ont OF the new ryhdcate ""re cqunl
/ reticent All agreed, however, that IL was u
| uurely personal matter In which the interests
! ~ the new loan could not be Affected anu
that n those interests could De hncctou tno
subject would be dropped at once, as al Ne.e ue &c,
siros of doing nothing interfere with the placing OF
the fouruercrnt consoz the most favorable terms
thar could be obtained. Several Of those with whom
TRIBUEE reporter conyersed on the subject