Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-01-31
SUBSCRIPTION COMPLETE
For the Full Amount of the Proposed Bond
Issue.
A New York Syndicate Takes All That
Was Wanting Bids to BE
Opened Tomorrow.

That Secretary Carlisle's plan for the is
sue of sJo.OOO.O00 FIVE per cent bonds on a
three per cent basis is an assured success is
demonstrated by the action of the New
York syndicate of bankers and capitalists
in subscribing for $4,000. 900 of the bonds
at the upset price fixed by the Secretary of
$l1I.223. 1t Is said that the subscriptions to
the loan were short to that amount up to
the time Secretary Carlisle visited New
York and asked the aid of the bankers in
maintaining the credit of the government.
What Failure Would Result I'm.
The failure Of the bond scheme would be a
great blow to the national credit and il is
said that Secretary Carlisle appealed to the
patriotism of the bankers to avert this
calamity. That his appeals were not in
vain is indicated by the receipt of a tele-
gram from ex-Secretary Charles S. Fair
child, representing a New York syndicate
saying that subscriptions for $30oOOOOo
bonds at s117.223 had been mailed to the de-
partment. The amount was made up by
nearly twenty banks and trust companiesl
of New York city.
1t represents all that is regarded as nec-
es sary to insure the entire amount of the
loan. There are indications that the total
So, ,0O0, 600 by a few millions, and the action
of the New York bankers will leave a small
margin for discrimination in the bids.
The Time Expires Tomorrow.
The time for the reception OF bids will
expire at noon tomorrow and the exact
amount of the subscriptions will then be
made known. The scheduling of the bids
will be In charge Of Mr.. Huntington, chief
Of the division Of loans and currency. 1t
has been decided to withhold the names Of
the subscribers, and to give the press only
the rate ard amount of the bids. 1t is said
this decision was made at the special re-
quest Of some of the heaviest subscribers
who have business reasons for not appear
Ing In the transaction.
Bond Issues Might Continue.
1t is said here that the New York bank
ers with whom Secretary Carlisle was in
conferer ce Monday were more interested
In securing the Secretary's opinion concern
Ing the probable effect of the proposed
tariff legislation than concerning the ad-
verse report of the House judiciary commit
tee upon the bond issue. The bankers sug-
gested that II the Wilson bill should be-
come law IT would SO reduce the reve-
nues Of the government that the treasury
dehcit VIII not end with the present year
put that IT is likely to continue one year
after another, and they are said to have
questioned Mr.. Carlisle at some length
upon the probabilities of the passage of
the bill. The idea which appeared to con-
troll the New York financiers was that II
the revenues were to be SO cut as to rem
der probable the continued issue of bonds
so many Of them would ultimately be
thrown upon the market as to depreciate
their value and render 1t unwise to nav
the high premium put upon the 5-10 bonds
by The terms Of Mr.. Carlisle's proposition.
Increase Of the Deficit.
further loss of $500. 600 in gold is report
ed at the treasury today. leaving the gold
balance stand at SIS. 500 600. or a loss dur
ing the month OF January Of sl5,oOO,OOO. or
at the rate of 100000 a day.
The official statement of the government
receipts and expenditures to be issued to-
morrow will show I'm round figures thar
the expenditures for the first seven months
OF the current fiscal year exceeded the re-
celpts by $46.OOO.O00. the figures standing.
Recelpts $lsoWp,UO0; expenditures Syoi :
Uo,oo. These figures If the ratio is ca rriad
through the entire fiscal year would make
tne deficit for the year, foot I'D $50 OO0 OOO
leaving the treasury with but $4l 600 600 OF
sne Si<I,VUVo with which 1t entered the
fiscal year on July I, 1893
This showing as made above has or,,,
been achieved by the most rigid acono,,,
ana withholding payments not absolutely
necessary to the smooth running OF tho
government Less than $50 600 of a total
OF nine million dollars due for sugar bo,,n
Ties have been paid. None of the nremiun,
money on the new cruisers, amounting 10
TWO million dollars or more has been pais
ana as little work on public buildings and
river ana harbor improvements as was
consistent with preventing work ALREADY
pegun from lapsing into decay or destruc-
ion from natural causes has been done.