The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1884-09-25
House OF REPRESENTATIVES.
WASUJN01nN n q nac q 1870
- ~ iSS' - hCfo.
MY DEAN Mn EtsuPD. nv

very hastily, both to yourself aud Mr.
Caldwell, in regard to the bank. A
further conference with the Controller oI
the Currency gives some additional facts
which are of interest, aud this letter is
intended alike for yourself and Mr
Caldwell. Please show it to him. They
are now allowing 80 per cent. circulation
on 1910 bonds, instead Of so, and then
IS at different periods in the past. They
give me the assurance that you shall
have full $3.50, 900 circulation on bank
of hay a million capital.
You can, Of course, deposit 5-20s II
you please, but you will get no more
thar 80 per cent. circulation. They will
cost you more, OF course, and, though
you get more interest, you will very
likely be disturbed in the quiet possession
of them very soon by the operation OF
the funding scheme.
The opinion gains ground here quite
rapidly, as you might infer from Secre,
tary Boutwell's report. that the debt
cannot be funded at less than 5 per
cent
BY taking 10-40 bonds, therefore, you
would be undisturbcd rs long as the
banking system lasts, or at least for
thirty years and mere. None of the 10
40s mature before A. ID. 1904, and that is
quite long enough to embrace within the
scope of any financial operation. 1t
might be well to have your formal appli.
cation for y'r increase of capital, and
then take such time as you may wish for
getting your stock subscribed. If you
desire will confer with Senator Rice in
regard to forms, &c. It might be better
now to let him take the lead. Yours
very truly, 7 g. nlAfSE.
". FISHER. Jr., Esq.
AUGUSTA, ME 20 Dec, 1870.
My DEAR Mr.. FISHER: I am in
hopes now that shall secure $25, 900, or
nearly that. l find money very tight and
rates we'll up to per cent.-stiif at that.
The most of it will be for 5 and 6
months. If had more time and earlier
notice I could have raised more, aud
at easier rates. I have seen most of the
parties to whom bonds are duo. l do
not have much trouble abor: tbs January
coupon Of the first mortgage bonds-but
they OF course growl some-on elk of the
bonds. would DO glad to have the
coupon. promised them Individually to
make il right in the future. I did not
In any way use the name of the company
nor commit you to anything-only my
scU.
On the land bonds I c"nuot make
them see the equity of removing the
April coupon, and I promised to try and
adjust that matter with you after my
return to Boston. They all agree with
one voice that no boud shall be exposed
for sale. l wish you could give me the
benefit Of that fraction making 80 of the
1st mortgage bonds for the $3l 500 due.
use the extra $500 in adjusting the in
terest matter, and it fits in completely.
1 will make it all right with you.
What l want, then, is
seo mn $32 900 first mortgage bonds,
So1'ooo $4,000 land bonds,
and also fr collateral to the notes for
$4,000 au additional $4,000 of land
bonds.
Please meet me at Mr.. Caldwell's
private office on Saturday at 1915 sharp.
| shall try to be there precisely at noon,
but allow Is minutes for grace. It Is
very important that ] have everything
completed that day, as n man will come
to Boston with me TO take charge of the
bonds. Yours, in Ct haste,
G. BLAINE.