The morning call., 1894-11-27
VEN THE ENTIRE ISSUE.
EASIER TO DEAL WITH ONE.

allotment of the S50.000,0O0 per cent
bonds, bids for which were opened at the
Treasury Department on Saturday. lie
accepted the proposals submitted by the
syndicate represented by john a. Stewart
of the United States Trust Company OF
New York and others to take the entire
issue at HOT It 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 understanding
Is that none of the gold is to be taken
from the treasury, an early restoration OF
the gold reserve to above the 500. 000 600
mark will be the result. The bonds, in
Guiding premium, will realize to the Gov
eminent about SIS, 100000. The gold
balance. which is now in round numbers
So, $50 0O0, will, if the expectations Of the
officials regarding the deposits of gold
bonds are borne out, be Increased to about
Sic, 100000
Before to-day, however. there has been
81 800, 600 in gold drawn from the sub
treasury at New York, presumably TO be
used in payment for the bonds. Assistant
Secretary Curtis learned during the morn
ing, unof1cially. that S8000,000 in gold
had been deposited in the snb-treasury for
UOuu pay t1l61los i4S JULIUS diC
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, 1t is expected. soon be ready for
distribution. The denominations of bonds
which tie syndicate will take ara as fol-
lows: Coupons-e5O. S25, 900; 800. S25, 600;
$1,000, S34,950, 900. Rrgistered-S10,0 900,
$4,000, 600.
The conditions on which the bonds are
accepted is shown by the original pro-
posal of the syndicate, which is 10 the fol-
lowing terms, minus the names of the
companies composing the trust. and the
denominations wanted:
New York, Nov. "a, 1894.
We hereby propos, under the terms of your
circular of November 10, 1894, to purchase
United States per cent ten-year bonds de-
serb in said circular of the face value OF
$4,000. 900, and we agree 10 gay therefor at
The rate Of l17077 and accrued interest
per S1G0.
This bid is for the whole $4,000, 900, but
not for any lesser amount
We further agree, upon due notice of the
acceptance Of This substitution, to deposit the
amount thereof in gold coin or certificates with
United States Assistant TTeasurers at either
Boston, New York, Philadelphia. Baltimore,
Washington, Cincinnati, Chicago, st. Louis,
New Orleans or San Francisco in accordance
with the terms of said circular.
We desire Registered or coupon bonds in de-
nominations as stated below, and we wish them
10 be delivered TO us as follows; $40 600, 900
at New York. 100000 at Boston, SIS. 00O,-
600 al Philadelphia, 100000 at Chicago
and 100000 at san Francisco or other
United States treasures, as may be approved
by the Treasury Department.
The following official statement was
made at the treasury: 1.-THE Secretary of
the Treasury has accepted the proposal of
John a. Stewart, president of the United
States Trust Company, and his associates
TO purchase the entire issue of 5-per-cent
bonds, amounting to S5o,0OO,O00. at 117077
and accrued interest from November /.
The proceeds of the bonds under this bid
viii be $49.517 81 greater than they would
be If the other highest bids were accepted.
A very important advantage t. the Gov
eminent in accepting this bid is the fact
that all the gold is to be furnished outside
and none drawn from the treasury. 1t is
also more convenient and less expensive
TO the department to deal with one party
rather than with many"
1t is the understanding of the Treasury
Department officials that the Stewart syn
dictate will not take advantage of the delay
offered by the Secretary of the Treasury to
pay for the bonds, but that on the other
hand, payments therefor will be made
promptly. Already Assistant Secretary
Curtis has been in communication by long
distance 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 so at the
sub-treasury at New Y ork up to the close
Of business to-day. 1t will be some days,
however, before the entire amount can be
paid, as some of it will find its way into
the sub-treasnries at Chicago, San Fran
cisco and other. sub-treasuries. The total
sum that the Government will receive for
the issue will aggregate about sos, 600. 900.
and as the understanding is that the syn
dictate will not take gold out of the
treasury to pay for the bonds, healthy
increase in the gold reserve will be the
result.
From the statements contained in the
bid made by the syndicate, treasury officials
believe that between S3O,O0O,0OO and S40,-
100000 of the gold will be paid in New
York and the remainder at the SUBJ treas
uries In Boston, Philadelphia. Chicago and
San Francisco. There were no notices OF
Withdrawals of gold at New York fol-
payment for bonds received at the
treasury up TO IL o'clock to-day. The gold
reserve to-day is said to be $57, $50. FOL.
ST. LOUIS. Nov. 26,-In response 10
telegram to K. P. Bland. asking an express
sion on the bond issue. the following was
received by the Post-Dispatch to-day from
Lebanon: ITO the editor of the Post
Dispatch: II the Secretary of the Treas
ury would exercise his option to pay
out silver for grsenbacks and treas.
ury notes issued under the Sherman
law there could be no drain of gold
from the treasury. The Government oil
France does this and keeps all her money
at par. This bond issue business look:
like an attempt to force Congress to retire
our treasury notes and substitute sys
tenn OF national bank currency. The fgh
is still on between the advocates of free
coinage of silver as the true mode of cur
rency reform and the adherents Of national
banks. 1t is proposed by the latter tt
farm out TO corporations the power to con
troll the value and volume of money
Surely the money monopoly of this coun
try now thinks it is in the saddle, but tins
will tell whether the people OIL the mo
uopoly is TO rule this country"