The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-11-02
ELECTRIC FLASHES.
Large Purchase of Confederate Bonds

WASHINGTON, November Large pur
chases of Confederate bonds are now being
made here by the leading bankers to fill
orders of English customers. The average
price paid to-day is about 81 for each 81 900
of bonds. Most of the securities bought
here come from Virginia, North Carolina
and Maryland, and it Il noticeable fact
that holders seem quite as ready to sell
as brokers to buy There is now little
doubt that this purchasing movement grows
out ofdepoSit made by officers fthe Conied-
crate states during the late war, of the sum
of s., 600 900 in the Bank of England, and
possibly that this sum, which will lie there
| unclaimed, may be divided pro rata among
| the holders of Confederate securities. 1t IL
not improbable that the question OF the
| disposition Of this money may become thu
subject OF diplomatic correspondence be
tween the government of this country ani
Great Britain.
The explanation generally Of the suddel
demand for Confederate bonds, which have
heretofore been reported worthless
is as follows: At the close Of the late
war there remained in the bank of Eng
America an undrawn balance which,
according to Solicitor Raynor
of the treasury department, la
been varously stated at from $4,000 900 :
$l7, 10000. This balance it is said still lie
there unclaimed and there is a pOssibilit
not prospect thatit will shortly be divdel
pro rata am ong holders of Confederate SC
curities, or at least this step will he
taken to secure such division. II
e in reply to inquiries Solicitor Raynor Of thu
5 treasury department says that he does no
know officially anything in regard to TIN
subject; that he has received number o
l,tt tugtY hn ~ lei
[ ing about this reported bal
. ance in the bank of England, and tina
he is engaged in making investigation
> with the view to ascertain the fact
: but thus far he has received n
!, definite information. He says, fur
: thermore, that granting the existcnc
i of balance he does not see what it has +
t do with Confederate bonds or hoy
n bondholders are to obtain possession
:. it. The money was noe dcposite
in the bank to secure it, and il can hardl
" be applied by the officers of the bank to an
II such object. A gentleman whose relation
=. with the state department have Ion
, been such as to afford him a
X opportunity to know the sccrC
1t said in conversation tonight that the III
=. doubted balance, standing to the credit
the Confederate States, inthc Bank of Ems
III land amounts to about 100000 with il
80 tercst accumHlationS, and that il WI
lc subject of diplomatic correspondent,
>, during the'administratio of Secretary Fis
~ The position taken by the officers of
a bank of the British government at TIN
Sc time was that the government of Il
n United States in order to establi.
claim to the money must acknowledl
81 the existence of the government of Il
c. Confederate States, and prove tn
IN it, as well as the Unit
-, States government, had the rig
y analogous to that of the administrator
lg receive and dispose of the COntedcra
H. governments property, as the goyernmc
- of the United States HI
10 always contendcd that the governmc
he af the Confederate states had ney
ne had legal existence, but was simply an {
h. scmbagc ofpcoplc in instruction, The
,, conditions presented iusurmountable. O
IL stacles, and after full consider
e. ton the secretary of the treasury ear
No to the conclusion that the money cou
~ not be received In thcppinion ofgentlcm
NJ the above quoted purchases Of Contedera
err bonds, which are now bell
o. made, are part Of a gre
Il speculative scheme, and so far as the re
-, value of the bonds is concerned has no 81
OF uilicanCG whatever