Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1894-11-28
BIDS ARE OPENED.
Interest of the Financial World Gen.
tered in Secretary Car
isles Office.


formity with his circular dated November
13, 1894, the secretary of the treasury to-
day opened the bids which had been sub
mitted for new bond issue of $50,
600 United States per cent. bonds to
bear date of November 1, 1894, and re-
deelnable in coin at the pleasure of the
government after ten years from the date
of issue. This action of the secretary
is taken under the authority contained in
the act Of Congress approved January IA,
1870, entitled IAN act to provide for the
resumption of specie payments" The is
sue of bonds is made for the stated pur-
pose of replenishing the gold reserve
which by Withdrawals for expectations or
other purposes has now been reduced to
less than S5S,000,000 Nearly all of the
recent Withdrawals, however, amounting
to about $5,0O0,000, have been made pre-
sumably for the purpose of purchasing
bonds of the pending issue. Under the
terms Of the secretarys circular of No
vember ID, bidders whose proposals are
accepted will be required to pay 20 per
cent. in gold coin or gold certificates, upon
the amounts of their bids, as soon as
they receive notice of the acceptance of
such bids, and to pay in like coin or GER
tiicates az additional 20 per cent. at the
eXpira ton of each ten days thereafter,
until the whole IS paid but they may, at
their option, pay the entire amount of
their bids when notified of acceptance, or
at any time when an inStallment is pay
able. The first payment, however, of not
less than 20 per cent. must be made
when the bidder receives notice of the
acceptance of his proposal.
The denominations of bonds will be $50
and upward and will be dated February
l, 1894, in order to make the proposed
issue uniform as to date with the existing
issue; but interest thereon will begin No
vember /. 1894. and bidders will be re-
70 nod into off hn 70
of 5 per cent. on the face value of their
bonds from November 1 to the date or
dates of payment.
The main bid for bonds was by a syndi-
cate of bankers of New York, London,
Philadelphia and Boston. and was for
included the Drexel, Morgan company,
United States Trust company of New
York and the large New York banks.
Secretary Carlisle shortly after noon
held a conference with treasury officials
for the purpose of deciding whether the
lie or private At 1915 O'clock a large
delegation of bankers and representatives
of the press assembled in Assistant Sec
rotary Curtis Office to hear the bids an
nounced. In the corridor outside was a
large, gathering of correspondents who
could not, owing to the limited capacity of
the room, be admitted. Among the bid
ders present were J. Pierpont Morgan of
DreXel, Morgan & CO., bankers, New
York; Robert Bacon of e. Rollins Morse
& Co., bankers, Boston; Albert Stetheim-
with Kidder, Peabody & Co., bankers,
Boston; Pliny Fisk of Harvey, Fisk &
Co., bankers, New York.
1t was decided to admit representatives
of press associations to the opening of the
proposals. ...-
Following are the names of the largest
no of
their bids and the price per 500:
Mechanics Savings bank, Rochester, n.
Y, $4,000 at 116; Henry Stephens, De-
troit, Mich, 100000 at 100; Dollar Saw
ings bank, Pittsburg, 100000 at LII. 90;
P. B. Armstrong, president American
York, 100000 at 116.06; Whitaker &
Hodgmar, ST. Louis, Mo-, $4,000 at
1925; e. B. McCutters, st. Louis, $1,000
at 2 per cent; Maryland Trust company,
Baltimore, 100000 at 1869; First Ma
tional bank, st. Joseph, Mo, $1,000 at
III; Third National bank, Cincinnati, o.,
$4,000 at 1851 James Talcott, New
York, $4,000 at III, $150,000 at 1860,
100000 at 11600S1; Schaefer Bros,
New York, 100000 at 116;9S4; z; S:
Smit tn 4 Co; New York 100000 Ga at
100000 at 116.1O3, 100000 at 1925,
100000 at 116.525, 100000 at 116.103,
$4,000 at 117.2125; August Belmont &
Co., New York, $1,500.O00 at 1860; I'M
porters and Traders National bank, New
suer, Dayton, O.. $1,000 at 11725; Sc
curity Trust and Safe Deposit company,
Wilmington, Del. 100000 at 316.1O3;
Wisconsin National bank, Milwaukee,
$4,000 at 1172125; Bank of Mansfield,
o., $4,000 at 117.223; Brown Bros. New
116.16; Brown, ShipIey & Co., London,
81 600 600 at 115 25: Continental Nation
al bank Chicago, 100000 at 1860,
100000 at 116. $4,000 at 1865; L.
w. Morrison. New York, 100000 at
116.21; Wisconsin National bank, Mil
bank Of Grafton 1UG ". Va, SIS 900 at i16;
900 at 116.1O; Nassau bank, New York,
100000 at 1910, 100000 at 1166.16,
100000 at 1926, $780, 900 at 1856;
McKeen & Co, Ferre Hagte, Ind, $S25OO
kee, $25, 900 at 1866; the Indiana Trust
company, Indianapolis, Ind, 100000
at lie; National Branch bank, Madison,
Ind, $4,000 at 1161O3; the Atlas Ma
tional bank, Cincinnati. 100000 at
1860; Bank Of Lenoir, Forth Carolina,
York, 100000 at 1926, 100000 at
116.S191; Goldman, Sachs & Co, New
York, $4,000 at 116.126, 100000 at
116.251, $150,000 at 1896, $250,00G at
116.625, 10000 at 1859, SlOO,OOO at
1865; Manhattan Trust company, New
York, 81, 100000 at 1854; Watjen, Toel
& Co, New York, $1o0 200 at 1d6S;dd1 ~
100000 at 116.S11, 100000 at III .O61;
Chase National bank, New York, $780,
600 at 1860; George J. Magee. Corning,
n. Y, $4,000 at 116S35, $4,000 at
1859, $4,000 at 1929, $4,000 at
116;o0S; Suffolk S Savings bank Boston,
Co. New York, $25O.OO0 at 1925,
$25O,OOO at 1869, $250O00 at 1865.
The total amount of the bond bids, &C
cording to revised treasury figures, is
$154 10000. The syndicate bid Of the
United States Trust company, Drexel,
Morgan & Co. and others to take the
whole issue or none at 117.077 is eX-
ceeded by only about $10,000,000 of other
bids. No award has been made, but in
view of the offers received it is regarded
as not unlikely that The syndicate may
get the whole issue.
BRAZIL IS LENIENT.