New-York tribune., 1879-04-08
arr settled and that of the return OF the Chambers
IN Paris ia put off to the Greek kalends.
SkCREr4RY SHERHANS VISIT.

A TALK ABOUT HIS FINANCIAL PLANS.
NE EXPLAINS HIS RECENT GREAT FUNDING SUCCESS
HOW HF PROPOSES 10 DISPOSE OF -FOUR PER
CENT BONDS HEREAFrER-HIs OPPOSITION TO
FUNDING THE SIX PER CENT BONDS OF 1851.
Secretary Sherman reached this city last
evening. and went Immediately % the Fifth Avenue
Hotel He is accompan.o cd by J. X Upton. chief clerk
OF the Treasury Department, and T. j. Bihoock pfNhe
secretary He viii visit the sub-rreasury tins morn
ing where ne will receive calls from bankers
and Others and later the day ne VIII visit the Cusl"m
House It expected that he viii remain in the city FOR
several days Hs visit has nothing 10 DO wh the iund-
ing Of the 500 bonds.
leading banker said yesterday: "srcretnry sher-
man is considering proposition to fund the 6s OF
1881 before taking up the 1910 bonds. OF the latter
there are only .Sl49 100000. while there are
about 3OO!OOOOOO OF the 1910 bonds. HIS
proposition to be submitted 10 Congress-
is 10 take up by adjustment Of the interest OF 10
classes OF bonds to tho maturity Of interest. OF the
g. OF 1891 Sls4I5. 900 will mature December 81,
1850 and S26i32I $50 will mature July l.,
urnt would be 30 stop the per cent
tbs 10 40 honds and 20 make provision Tor bonds
which must be pad in 1881. rather than TO anticipate
ture until 1904. although now redermabe al
ihe pleasure OF the Government Ihls provision
for per bonds has also in ita favor the ucer
t,ny as 60 whether It Will he practicable in lssl to
place 1 per cent loan "a retire tHem' a.
greater activity in the money market
tnan prevails aud IN the event thIt II should NOS
tive would be left the Government % continue 10 pay
per cent interest upon bonds then que.
TALK WITH SECRETARY SHERMAN.
Secretary Sherman. in general conversation last
evening said "A the facts in regard 90 the closing
OF the 5-2O funding have been published. The London
Syndicate mad the same opportunity as did Others ol
subscribing 20 the remaining per cent bonds. IhfY
had the option. they permitted others 70 get anead
them. understand that The Rothschi'ds ahd ,'I.
beaoht are noi lHtet-Nel ~ 1i a' 80 = rr1-.d
made by tue Bank OF Commerce nave been lniosne
OOu.OO0 OF the inal subscription ir thth'
This claim has not been formally presented 20
Nv circular OF March stated clearly that as soon as
the 52O bonds were AL called IN, al options 70
make the matter more certain l sent PERSONA
letters to the members OF the London Syhul-
why people should supposo that no more per cent
bonds can be obtained. Whle ! shal reure rom % %the
market FOR a for the sae OF Pee cent bonds tie
people get all they want now from tAe ihhHlhs
certificates al par -, r,,,
Offer per cont bonds Tor sale 10 refund the lOiO bonds
but advanced rates, 80 As not 10 allow sacA hraV5
see AT present. pi nov % call eau The "' f,''S'pr ac9
be gwen before the $40 bonds could be called
involving, unnecessary delay. "nI, n" c,iSnG ia%
tue alteu ion of Congress 20 this IN my aLnua
rcport u December and / strongly recommended That
H,si iffer cIgs!dssabIe DELAY passed such LI. and
The senate Gld not take it up. The shortening TIA. call
simply enables Us 10 apply tAe money We receive
Referring 60 the proposed legislation sell the 6s
OF 1851 before he iO-IOs disposed Of, Secretary
sherman said. "fh,Ie iz some merit IN that
proposition: but 1 do not where the Gov
eminent would be tIo gainor ~ IT, We
wOnid oe compelled 20 into The market and pur
the is 20 premium Ihi" PROPOSITION ls Oased
upon the presumption tina 1t the date OF their Tia
turty per cent bonds might not De easily disposed O
mat Der cent W % Dee the esfab i-hrd maximum rate
of interest by the Government hereafter, and
tlat tuc ma ket viii be as IaNot4Ue "heh Ile
6s of Issl fall due as now. AN not IN
favor Of the Government becoming purchaser
IN the market OF these bond, az prtniuu Zen sec
retary BrstOw began lundus, lie SOFA the per cent
bonds about lOl b by requiring the purchasers %
pay interest Tor tArre mouths. We cannot sen 'hr
ner cent bonds above par. as the certihcates can
De REFUNDED into per cent DOhds' INNS
the truuDlr may ge IeleNt tu 59 N9i- t,T an ~
10 shorten the calls. When the 9l9A0OOOOO or 1O4O
bonds have been unded' the sale ~ per cent bonds
ISL VS. ease as 'H''' - -o '''''' '''' % o.
ne desired 10 call public attention. dc -ad " notice
IN some OF The papers prlngp"hy ~ the
bids for per cent bonds received on April
4 Some bids received from baaks IN
ordnary course OF business, and TIE certificates
were forwarded before p. m. On Friday. These
were acrrpteG. and they dld rLcerd IN All
u 900 600 instead of 10000 600, published in
papers. The COniinenti anc Hanover N'uohdl Ranks,
of York large subscriptions. but there
n n Tie entire tnouat ~ subscription received after
Iours Oh April was 1886, 200 Al noon, went
10 the Cabinet meeting. the subscriptions amounted
70 50 5O2 $50 mostly IN millions from banks in
Ney-YOrk ana Boston. Al p I'D. received ,ubscrlp-
tlou from he Bank Of Commerce Tor 4OOOOOUO 10 Was
a. large and unusual that required Tho patch 20 be
repeated and certified before accepting 10. Shortly
aferward received subscr ptiOns from banks IN New
YORK for $4,000 600, and these WITH the S1OOOC.00O
bv the LOndOu Syudcnte, made @535O2,1Jo.
IcIOsei the $40 Tundng. and | sent word 70 al the
aub-Treasurles IN the country be-ioes using tie
Associated Pres No subscriptions after mat TINE were
received. IuOse that came were received at my
house alier p. u, and they were All declined
Referring the occasion Of his present visit 70 the
cifv Secretary sherman saiG I AN mere purely on
official business, not Al ali connected with funding
dluuces II would be proper for me
0 state what it is in advance Of action. shall remain
here until the official business is concluded, which may
occupy several days.