New-York tribune., 1877-08-18
LOCAL MISCELLANY.
THE OLD SYNDICATE DISAGREEMENT.

THE OLD SYNDICATE DlSAthEEMbNi'
FURTHER TALK oS BOTH sIDEs-A COMPLETE STATE
MEyT OF MORTON, BLISS CO.'S ACTION
There are no indications of fresh trouoie
growing out OF the Syndicate disagreement se",i"
man wen informed on the subject and familiar with tne
operations Of Morton, Bliss Co., stated ycse'"' ~
nd,r tho terms of the original contract the secretary Vi
the Treasury was empowered 10 rescnd u aIler No"
upon giving ten days notice "Ihat nc u'' s.' ~
notice long before the contract EXPIRED "'"e" ' 80
tleman il well known. These people, no" c""'p'"s
40 loudly all know that Morton, Bliss 20 uu no 'o"
tinue TO act for them except III rcgsru " 'no -, 10
ccnts They had a conference, and delegated MI Eis
- >, Uash,ngton and, acting for them, to
- ,n,o srcb negotiations he might deem
advisable He did go behalf OF these very
urotestants and had conversation wi'n Soc'ey o"'
man who said to him, as he sld i'so W oA
McCulloch that he would be pleased 10 reoeiNo '.'
NJ, Ellis now claims that Mr.. shernan sald that ne
opld advise him. when any bid WAS lhaoe' ~ 'h"' o
might respond before ~ contract was eh'ere' in'o
mt ,s smplv conclusion he arrived at, from the re-
srk NJ the Secretary he would be happy 70 receive
hid from them. Morton Bliss a. Co aso went W ""sn
uoton some time after Mr.. Ellis had MS interview" anu
made definite offer for S250OoOOo OF these iour per
cent bonds and accepted TINS was inc nrs "''eo'
offer that made, and had MI Ellis "c'e" III '"'
he wonld have secured the bonds"
In the of further conversation tms gentleman
soid "Tbese eompainants state that Morton Bliss
Co disposcd their rights without any authority "he"
the fact is that the Secretary of the Treasury was the
man who terminated the original contract ana Mot'oh
Bliss d Co. ceased To represent Them Ihcy hao IN
eouaI chance with the fortunate hrm OF securing
the bonds and transactions would have been entered INTO
with them had they made offer. The Secretary was
rather skeptical aud did not believe that the bonds
coud be negotiated abroad at four per cent ana seNc
davs passed before word was received from London TO
the effect that the bonds would DC accepted Al lhs
talk about Morton Bliss Co. acting III pat Ihlh anu
calling oIt those who had ronded them rs inc nefest
"bosh," and not one OF those VINO colpluh " III M n'ho
anv such open charge II a supple business taisse
ton, in which one parry su0oeeu0" "''" Va" 0
failed" ,,.,,. =, l.oo, ,,r,,
When asked concerning the prohapny OF leeal lIo
eeedngs this gentleman said: " IL legal proceedings
,hcij he taken OF course they would soon e,taDsh te
status of the parties hut rs these gehtlenen NV 1 20
single peg on which 10 hang cause OF action thcre Is ho
robablitv Of any lawsuit There Is srgie question t
issue whether not the ten days nOJlce OF intention "
Terminate thc original agrccnC Mt was gwen ny inc sec
resry of RE Treasury He says he forwarded pflhteu
nnfice 70 that effect and OF the gentlemen con
ccrncd admit having received the notice. That, 1t seems
10 me settles Tue matter. At any rate Morto bhss
60 have made the contract ana dispOsed Oh inc pOIs
and what can be done by those VINO claim 10 nave
grievances. am at a loss TO tell"
Mr. Eauier OF the banking htm OF Mlnsl"W, Lanlet *
90 sad: 1.-THE situation is practically unchanged ana
the article published in THE TRIBUNE OF Thursday iu-
nished correct account of the entire mact as Ii Us
understand IT, Ali the stories circulated On the streets
about impending trouble and excited feeling are manu-
acfurcd aud without TRUTH and certainly were not as
seIinatcd 10y connected Win "hat Is Known as
the 4le per cent Syndicate Ny opinion is that the de,
cussion might bctter be dropped IL should he allowed
TO die out for certainly good can result from lufue
and prolonged disputes"