The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-11-15
THE PROPOSED LOAN.
F.snk Forms Sent to a Large Number
of bidders tf tt3

WASHINGTON, Nov. 1.-THE chief of the
loans and currency division Treasury De-
partment to-day sent a large number of
blank forms for the use of persons desiring
to make bids for the new 5 per cent. loans
The new bonds will be Identical to those
issued in February last, inclusive of date
but will contain three less coupons, as the
interest Of them begins Nov. / instead of
Feb l, as in the case of the others. Con-
sequently the same plates will be used for
printing the new bonds. and there will be
no delay whatever on that score. Inasmuch
as the offers will not be finally considered
until Nov. "a. it is not likely that the prin-
cipal bids will be submitted much before
that date, as the holders will want the ad-
vantage of the latest information as to the
state Of the money market before finally
deciding upon the terms of their bids
The requirement in Secretary Carlisle's
circular that bidders should pay 20 per cent
in gold coin, or gold certificates, immedi-
ately on receipt of the notice of the accept
ance OF their bids, was explained to-day by
Assistant Secretary Curtis. Several parties
who made bids at the time of the last issue
failed TO make their bids good. while others
who were not regarded as responsible made
large bids, and when they were rejected
mace complaints of their treatment Mr.
Curtis said that the requirements in yes
terday's circular was to get rid of these
classes of bidders. 1t is stated that bids
have already been received at the treasury
by telegraph, but no attention was paid to
them. All bids received by telegraph or
otherwise than sealed will be treated as ir-
regular and attention will be paid to
them.
Views of New York Bankers.
NEW YORK, Nov. H.-A leading bank
president said to-day: 'If the banks are to
pay for the bonds it will take all their
gold. while If gold is TO be imported for the
purpose, rates of exchange Will be reduced
materially. The trust companies probably
have good deal of gold in their vaults
1t is believed that the larscst subscribers
TO the new government loan will be DrexeI.
Morgan g. Co., the United States Trust
Company, the Union Trust Company. ]. &,
W. Seligman & Co., Brown Bros, Kuhn
Loeb & Co. and Speyer G. Co., some of
whom will act as agents of English and
German financial institutions in subscribing
for the bonds. This accounts for the weak
ness in sterling exchange and reichmarks.
John A. Stewart, president of the United
States Trust Company, said to-day the cir
cular asking for bids issued by Secretary
Carlisle was the best ever issued by the
government. 1T protects the government"
said Mr.. Stewart. "at every possible point.
There is no doubt as TO the success of tne
loan. The bonds will all be taken and paid
for in gold, and the government will not
have TO pay a cent more than 3 per cent
for the money. 1t Is possible some CT the
gold received for the bonds may be brought
from Europe. and II is also possible that
some bids may be received on even more
favorable terms than per cent. cannot
say anything about any syndicate bidding
for the bonds because / do not know OF
any, but know all the bonds will be taken
Every tub will have to stand on its own
bottom, everyone will have to make an in
dividual subscription. In my opinion no sub
scription will be received the maker of
which cannot pay for the bonds in gold
not previously withdrawn from the treas
ury therefor There will be no difficulty in
getting the gold. and any suggestion that
there may be is foolish. The banks will pro-
vide the gold and they will have no diff
Guilty in getting the bonds IL they want
them. The terms of,sMr. Carlisle's circular
make the subscription open TO everybody
There is a demand for the bonds. and mark
my words, the issue will be complete sue
cess"
British Bankers Want the Bonds.
LONDON. Nov. 1.-THE United States
loan OF S50000.o0O is hunted after every
where here by financiers who are desirous
OF taking portion of 1t. The stock mar
ket will be only too pleased to take any
amount OF IT, Many inquiries have been