The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-10-11
THE GOVERNMENTS FINANCES.
Bond Purchases Ycstcrday--Th Tho Policy
OF tho Treasury.

WAIuNoroN, oct. lO.-Today's bond
offerings aggregated -, 0G7. 200, as follows
Coupon ioun $3.50 at 1924, S5lp, $50 at
100, registered foun, S5,3SpG5O at l2D
-, $50 at 1924, $500 mo price named;
coupon four and halls, 80. ZOO ut 1854,
registered four aud halls, 5000, $40 NJ
lUNl. S2,OOOOOO NJ 100
Tho Secretary Ut the Treasury this after
noon accepted ~, l3n, 500 bonds, M follows.
-Four and half per cent, registered, ST.
l23.OOO ut lOSl, four and hall coupon, So.
200 ~ 1851.
The total offerings Of bonds today
amounted 10 sli, 2j5 400, Of which sp,pli,-
30 were per cuuts, and sA,alN. 500 W,tc
a. per cents. An the ils wor. accepted AT
~ .usl. aud oil the T. were rejected NOT.
withdrawing the fact That moro than nine.
tonths Of them wcrc offered NJ u ~. the
rate NJ which about - ON. 90 uf T. was
accepted yes crdly. Thcri- considerable
comment over ibis appI tng' iH '.H
policy Of The department, .ul many turu.
rics Hrr advanced Co account for Il. The
mos plausible one, according Ia q treasury
official, is that, o'hvr thing, being equal,
the department prefers Ia apply the sur.
plus 10 thr redemption ul the loan which
natures inside ui three yrln rather than
exhaust II in the purchase Of bonds which
have much longer tD run. The Same uili-
cial added that having met thy require.
m,uts at the sinking fund lur The present
year tire department can nov afford Ia act
with greater independence iu the purchase
ol bonds, and Ia applying the surplus tu
that purpose would naturally desire Ia so.
curc bonds nearest maturity.
Acting SECRETARY Thompson declined Ga
say anything Tor publication Ia regard 10
hiS rejection oi the g. except a. remark
that be- bad bUu h, flb,Ol0uOD IT bonds
during the loot three days aud rFirlcd
that a- doing very we'll.
At the close oi business yesterday Il WIS
| found that the total deposits ui lawful
money ior reduction Oi national hank cir-
| rulation since September 20 aggregated
! 81. -I,. 100. As the net ui 1852 provides
! that not more than s3ml.uD Ui lawful
| money shall be- deposited iu any uuu
| month iur reduction ui circulation nul
| Withdrawal 0i bonds. the balance rcriy
able during the remainder vt this month
| wis. at the beginning ui business thia
morning, slpl,2Ip. lhcsc large deposit
arc connected with iho purchase ot houi.
| los the government, and as ihr mlHui'uii
| ul thr UlpnuH Nr-iully indicated ilul
there would probably lulBy bn further d"
pusits rendered, thr comptroller of tho eur
| rnry appointed q committee Gao rcUiy,
the Registered mail and prurd the order ir
which thr various packages might como i0
| hand lhu committee received today
ninr packages. ui which fiy were found iU
rrlalr iu deposits oi lawful money lur No.,
| Withdrawal ui bonds amounting tp s,Up,
| 500. Tho llIl. $50 WIS made up Iron
these offerings iu the order 0i their IrruH
| md the banks were notified, A. funu l'
the sG.uul.UuU limit WAS reached lhy treas
uur trIrgaphpi 90 ilU various assistant
| trusurpn tp receive uu more deposits iluI
month iuf the reduction ol thu national
/ bank circulation