The Canton advocate. [volume] (Canton, D.T. [S.D.]) 1877-1897, 1881-06-30
WasllingtOil.
OWNERS OF THE BONDS.

OWNERS OF THE BONDS. .....
WASHINGTON, June 2.-The investi.
CATION being conducted by Special
Agent r. P. Porter into the ownership
of the United States bonds is completed
so far as relates to the registered bonds,
and the results will be soon issued in
the shape of an extra bulletin. It will
show that about $4,000 600 of the
bonds held by private holders are
owned by persons each having
amounts exceeding $5O,OOO,OOO, and
will rather disabuse the minds of the
people of that erroneous idea industri-
ously promulgated by the great mo-
nopolists of a popular loan. The ex.
act figures are not yet attainable, but
it is probable that not over $4,000 and
certainly not over 100000 persons own
the entire debt of the country. Indeed
it is said that the census will show
1,500 persons and corporations own
upward of S41O,0OO,OO0 of registered
bonds, while $4,000 persons are
the happy possessors of some $1,000
600 in amounts less than $500 each
an aggregate of less than one-seyenth
Of the registered bonds held by Wander
bilt alone. Thus, to express the mat
ter automatically, $4,000 of the masses
of the people, S,0O0,OOO; w. H. Van
derbilt, $4,000, 900; q western states
and territories, probably $4,000, 900.
While the exact results have been
reached in regard to the registered
bonds, estimates alone can be made of
the distribution of the coupon bonds,
Mr.. Porter has just returned from
New York, where he has been for the
past two weeks, completing arrange
ments for making estimates. There
were on the date nearest the census
year $500, 100000 of coupon bonds,
some of which were of the 4 per cent.
some of the A., some of the SIS, and
some of the Is. For the convenience
of the treasury department. the diyi-
dends of interest on these bonds ia
payable in July on the As, in June on
the 4!'s, and on the SIS and Ga in
August. The bulk Of these payments
are made at the sub-treasury in
New York city. If the census An.
thorities could ascertain from what
points the coupons came thew could
easily show the disposition of the bonds
Necessarily the amount of the counons
equal l per cent. of the 18th, Ii per
cent. of the AS, II per cent. of the IS,
and las the interest on the 6s was pay
able seml-annually) 8 per cent. Of the
6s. 1t Is customary with large bank
ers and brokers Of the money centers,
in order to save time and trouble. to
send to the sub-treasury a coupon
schedule, Or in other words list, show
ing the amount of the coupons of the
various species of bonds placed in their
hands for collection; these schedules
are entered on the treasury books and
the special agent in charge of the mat
ter has secured statements of the
amounts from all the leading bankers
and brokers in New York City. The
next step IS to visit the brokers and
bankers and to ascertain from whence
the coupons come to them. This in.
formation can be obtained with an
proxlmate accuracy in the result OF
foreign coupons, and hence Mr.. Por-
ter feels satisfied that he will be
able to show the amount of our
bonds held abroad, and that the state.
ment will be fairly correct. 1t will be
mere difficult, however, to get at the
distribution of the domestic coupon
bonds, but in this the absolute statistics
OF the registered bonds will be of great
service. He knows for certainty tina,
about III per cent. of the registered
bonds are held in the New EnplanG
states, about 43 in the Middle states
about 2 per cent. in the southern
states, and little over 8 per cent. in
the western. About IS per cent. are
held by corporations. But of this
basis Messrs. Fisk & Hatch, Aupus
Belmont, and other heavy dealers ir
bonds, have advised him to allow Is o,
~ per cent. more for the large cities
as the rural districts and small places
where bonds are held more as perma
nent investments, the registered bonds
are preferred.
THE PENSION BUREAU.
WASHINGTON, June 27.-There il
great excitement in the pension bureau
over the discovery of an alleged plo
to practically hoodwink the secretar,
OF the interior. During the closing da!
OF the last session of congress a bill wa
passed increasing the clerks in tn,
pension office, making 1870 clerkship
and examiners, the salaries rangin.
from s., 600 to 81 200 year. The sen
ators and members of congress. will
the secretary of the interior, insisted
that these new appointm ents should b.
made from the different states and no
be filled by promotion from the exist
ing pension clerks. Commissions
Bentley combated against this, and in
sisted that he should appoint the clerk
and that the higher positions should b,
filled by promotion, and that no ne1
appointees should receive over 81 ,2O
per year. Mr.. Bentley was overrulle
and the places were filled fpom lawyer
of the different states, Ithas just leake
out that the old clerks formed a rms
or conspiracy, whereby on the lst {
July they would GUST the new examir
ers. In this way they were to be ker
down in their records. The term recor
in this Office means this A clerks c.
pacity, judged from the number I
cases and the briefs which ne submit,
for admission Il rejection, to whic