Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1880-01-02
WASHINGTON TOPICS.
FERNANDO WOOD ON THE BOND QUES-
Tl0N.
Grants Visit TO Washington not Purely One
of PIeasure-New Years Day at the
White HOuse-The Mosby Let
tiers Regarding the Hong
Kong Consulate.
Wood on the Bond Question.

A'AlNlllloll obNlNooNN W SNAAANNA
respecting the reiunding OF the govern
ment bonds to mature in 1881, said he
had. and regretted that the secretary
had predicated much OF his reasoning
upon false premises. The bill referred
to as having been presented by himself
December had no reference to the re-
funding oi the tives and skies comp re-
hended in the bills OF Senator Morrill,
in the Senate and Gen. Garfield
in the li1use. lie Wood
had not presented ms bill
yet, but he should do 50 Immediately on
the reassembling OF Congress. In that
bill would be found features which
would render . per cent bond an ex'
tremely desirable one, quite as much so,
if not more so, than the present 4 per
cents, which the Secretary appears 10
think possess such very remarkably
popular" characte ristics. To the argl-
ment that the increasing business de-
mands for money will raise the rate OF
interest and thus make the :! per
cent bond impossible OF sale it
is only necessary TO reply
that the business demands for
money have been active for Il year and
vet per cents have been steadily in.
creasing in value. They are now worth
4! premium and in good demand. They
Weld 10 the investor but little over 3!
per cent interest on the investment, The
secretary, " ood said, does not appear to
realize the fact that divorce has taken
place between business capital and in
vestment capital. A tight money market
affects stocks and trade, but not United
States bonds, because the money
thus invested has been with
drawn absolutely from the hazards
and speculatiOns incident 10 business.
The ! per cent bonds are even now,
while money is worth q and 7 per cent
on the stock Exchange and on business
paper, and while a further issue OF 1
per cents is advocated by the Secretary
of the Treasury, selling at price
at which they will pay but little
over 81 per cent per annum Tor the mn
expired term. With the re-investment
of the S50,0OO,OOO TO be dispersed in
January for interest and dividends,
with the ease in money which
will prevail during the next few
months and with Legislation by Con-
gre>S which would put a final end 10
any hopes or expectations that more 1
per cents were to he had from the gov
ment, there can be 40 doubt whichever
that they would immediately advance
10 premium at which they would not
gay anything F siSs GXsr Rshp, Rsbh esR sid WOOL Sdf
and, with The ieatures my blll viii con-
tain 10 render the proposed long 81 per
cent. bond attractive and desirable,
| have no fear that they would not be
taken rs rapidly as could be desired.
In reply TO the question what he
thought would be the effect of the
Secrctary's letter and position upon
Congress. Wood said it would have no
effect at all, that in his opinion Congress
would act independently Of executive
influence upon the question, and that
when his bill was introduced and thor
oughly canvassed Congress would be
satisfied that 3 per cent. bond, accom-
panied by certain adJuncts he should at
tach 20 il, would be- sustained. He
thought the last per cent. bonds this
would ever issue were now
in existence, and that the new and low
or rate would be permanently estab-
lished. Oi course he knew the lenders
oi money would clamOr for higher
rate, but he did not see why parties
thus interested should govern aquestion
like this.
Proposals for Bonds
WASHINGTON, January 1.-The Secre-
tarv ui the Treasury has issued a Circu-
lar announcing that proposals for the
sale tn the government OF S5,0O0.OW OF
any Of the bonds of the United States
oi the description, and not to exceed the
rate below stated, will be- received at the
office Oi the Assistant Treasurer Ot the
United States, in New York, until noon
"Wednesday, the 9Th inst, al which time
the bids will hc opened and awards
declared, the bonds thus purchased
to be applied to the sinking fund
as provided in section 3,6g4 OF the Re-
uscd Statutes of the United States M
ine act of February s, 1861. Skies IT
! l>SO at 1922, acts Of March, 1861, Jnly
Il, ISL, and March "a, 1866; 6s OF 81,
a, lO4!, act ot July II, 20; five per cent?
OF ~ at lOS.. Proposals should state
the specific character OF the bonds Offered /
registered or coupon, and un |
Ter what acts they were issued, AM |
NAV be for any amount not less thai I
5000. The offers must be for tir |
sale 0i bonds with accrued interes
10 and including the 9Th nstau,
and each proposal must enclose a ce-
tiicd check Tor five per cen.
oi the amount oi bonds ofierei.
The checks Of unsuccessful bidders Wi
be- returned a. soon rs the result i ~
and those ui the others on tr
following business day, when the borHs
must Ice delivered, and payment IN lfw-
iul money will be made as soon as they
can be-dnlv examined. The right isre-
sryed 10 reject anv or ali bids and
waive any defects.
Son OF Senator Morgan Shot by Woman
WASHINGTON, January John IL.
Morgan, son oi senator Morgan oi
Alabama. was walking along q street
with friend when they were met by
Lucy W. X. Horton, who suddenly
drew revolver and shot Nor
san through the shoulder. lieiore
she could fire the second time Morgan
iurntSl and seiEed the weapon. The
are not dangerous. Miss Horton
began a suit against Mon;an last July
for brrArh Of promis, Of marriage.
Since then she has lost her posi-
ton in the Treasury Department, and
has been generally unfortunate. and she
claims ihA, she has been perseyuied.
She maintains that her assault on Nor
gan Was unprecedented and their meet
Ing unexpected, although she e1-
presses regret that she did not kll him.
New Years Day al the whiie House.
WASHINGTON, January There Was
an unusually larse attendance to-day AZ
the New Years reception Of the Presi-
dent and Mrs HAyes. The Executive
Mansion vAs elaborately and tasietully
decorated with fASs, eyergreens and
blosssming plants The Chandelier
in all the parlors were festooned with
smilAx and cut flowers we're ussi IN the
CREATES, proiusion % adorn the tables
and mAntels. The Presidential party
consisted OF the President and Mn
HAYES. Vioe-Prrsident Wheeler, Mn
McEali Nj. Nattheus Mss Cook and