The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-11-27
THEY ARE ALL SOLD.
Stewart Syndicate Takes the Entire
Issue of Government Bonds at Il
Good Figure.

Washington, Nov. 26. = Secretary
Carlisle today acted in the matter of
the allotment of the $50,000,000 5-per-
cent bonds, bids for which were open
ed at the treasury department on Sat
urday He accepted the proposals SUD-
mitted by the syndicate represented by
John A Stewart, of the United States
Trust company, of New York. and 9TH
ers to take the entire issue at HOT
1t is the expectation of the treasury
officials that deposits of gold for the
payment of the bonds will be made
very promptly and as the understand
ing is that none of the gold is to be
taken from the treasury, an early res
toration of the gold reserve to above
the 500 900, 900 mark will be the result.
The bonds, including premium, will
realize to the government about $685.,
100000.
The gold balance, which is now in
round numbers s57 800, 900, will, if the
expectations of the officials regarding
the deposits of gold bonds are borne
out, be increased to about $116, 900 900.
Before today however, there has been
S4,55OOOO in gold drawn from the SUBJ
treasury at New York, presumably to
be used in payment of the bonds. AS
sistant Secretary Curtis learned dur
ing the morning, unoficially, that $S,-
100000 in gold had been deposited in the
sub-treasury for bond payments. The
bonds are deliverable as soon as the
gold is deposited, and as the bureau of
engraving and printing has been busy
at work preparing for the issue, they
will, it is expected, soon be ready for
distribution. The denomina tons of
bonds which the syndicate will take
are as follows:
Coupons, $50, $4,000: $780, $25, 900;
$1,000, $S4.95O,0OO. Registered $4,000,
Sis, 000, 900. The conditions ON which the
bonds are accepted is shown by the or
iginal proposal of the syndicate, which
is in the following terms, minus the
names of the companies composing the
trust and the denominations wanted:
eve hereby propose, under the terms
of your circular Of November IS, 1894,
TO purchase U. S. per cent. ten-year
bonds described in said circular of the
face value of fifty million dollars, and
we agree to pay therefor at the rate
Of 117077 and accrued interest per 800.
''This bid is for the whole $50,000000
but not for any lesser amount.
We further agree, upon due notice
of the acceptance of this subscription
to deposit the amount thereof in gold
coin or god certificates with United
States assistant trsasurers at either
Boston, New York, Philadelphia, Bal
ltimore, Washington, Cincinnati, Chica-
go, st. Louis, New Orleans, or San
| Francisco N accordance with the terms
of said circular.
I'VE desire Registered or coupon
bonds in denominations as stated be-
low, and we wish them to be delivered
ito Us as follows: $40,000,000 at New
York; $1,000 900, at Boston; $4,000 COO,
and 1000, 900 at San Francisco or other
| United States treasures as may be APP
proved by the treasury department."
1t is the understanding of the treas
ury department officials that the Stew
art syndicate will not take advantage
| of the delay offered by the secretary
| of the treasury to pay for the bonds,
| but, on the other hand, payments
| therefor will be made promptly. AL
ready Assistant Secretary Curtis has
| been in communication by long dis
lance telephone with parties represent
| ing the syndicate, who desire to know
when they can deposit gold for the
| bonds. He replied that they could do
| it at the sub-treasury ct New York up
| to the close of business today 1t will
| be some days however, before the en-
| tire amount can be paid, as some of
| it will find the way into the sub-treas-
uries al Chicago and San Francisco
and other sub-treasuries The total
sum that the government will receive
(, for the issue will aggregate about $685.
100000, and as the understanding is
| that the syndicate will not take gold
out of the treasury to pay for the
bonds, a healthy increase in the gold
reserve will be the result. From the
statements contained in the bid made
| by the syndicate, treasury officials be-
| lieve that between $50, 100000 and $780,
100000 of the gold will be paid in al
| the sub-treasury at New York and
the remainder at the sub-treasuries al
Boston, Philadelphia, Chicago and
| San Francisco, etc.
| There We're no notices of Withdrawals
of gold at New York for the payment OF
bonds received at the treasury UP te
| II o'clock today.
The gold reserve today is said tc
be s57,669, I01.-
| Bland the Issue.
! ST. Louis, Nov. 26.-In response to a tele-