New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-24
r. T. WILSON GETS THE BONDS

X. i. WILSON GETS The BONDo
80; CHEROKEE BOND CONTRACT DE-
CIDED AT WASHINGTON.
OPINION OF THE ATTORNEY GENERAL IN FAVOR
OF THE NETWORK BANKING FIRM-How
THE GOVERNMENT INDEBTEDNESS WILL
BE PUT IN FORM FOR NEGoTIA-
TIoN-TALKs WITH r.. T WILL
son. JR.. AND BARON
ERLANGEK
The contest over the possession Of the Cherokee
bonds has been decided in favor Of X. T. Wlsop
e. Co.. bankers. at No. 33 Wall-st. Word was re-
ceved here from Washington yesterday announc-
ing that Attorney General Olney had suDmittea
a favorable opinion on the validity OF the Chero-
kee contract which the Secretary of the Interior
would accept as decisive. There has been con-
test over this contract growing out OF the rivalry
Of r. T. Wilson & Co. and Baron Eranger' VINO
Ia the representative of the foreign interests IN
the Queen and Crescent combination or South-
ern railroads. Wilson & Co secured from 'he
Cherokee Nation an assignment of the purchase
money to be paid by the United states GOVERN
ment for the acquisition of the Cherokee strip In
amount involved was $6G40O0O and wilson " 90
Maid a premiuu of 500 600 for the contract. This
WAS $4,000 more than was bid by the representa-
tivcs Of the Eranger syndicate. Efforts were
made supposed to be in the interest OF the En-
hangers to break the bid accepted from X. l.
Wilson & Co., but the latter firm was uphed oy
the Indians and received favorable report from
the judiciary Committees of both houses OF Con-
gress The opinion Of the Attorney-General IL De-
leved by Wilson & Co. to settle the case anu
IL is announced from Washington That the con-
tract Of this firm will hold.
r r Wilson is out of town. His son, r. T.
Wilson IT,. said at his house, No. oil F11th-aVe'
last evening: THE transaction is large one In
bulk but ii is not significant in any other way
We have never had any doubt that our position
would be sustained. Our payment OF S6,4o'oVo
will he made al the Sub-Treasury in Newly orK
nr,bablv next week We will secure from the
Assistant Treasurer a receipt for S6,64O.ooo. pehs
the assignment of the claim of the cherokee
Nation bearing interest at per cent. Inc gov
eminent will pay off Its debt in four equal install
ments from 1897 to 1900. both inclusive In order
TO make the Government receipt commercially
available it will be deposited with the Union
Trust Company which will issue participant re-
ceipts in denominations of $1,000 each THESE
receipts or bonds. if you choose to can theih So
will be placed by us with investors. , -.
1--WE have not determined all the detalis Oh
the transaction" added Mr.. Wilson "such as
whether the per cent interest," sn ,r,s pe cdmpany
receipts will not be placed abroad. we can
readily float them here. Already applicatio,na
have come to us that will assure thelr Ieau9
saIe IN banks trust companies ana private III
yestors We will doubtless retain large sIaIe
ourselves and the obligations VIII De place Sho az
ones but they equivalent to Goverhlie ,,i
bonds, and ought TO sell about on par WIZ, WIZ,
A1nnn
equivalent to a little more than per ccn'
Government bond. In the present state OF .ne
money market, with SOLID investments sioMln VII
scarcer daily. think there VIII be epo ,
demand for these Cherokee bonds, even IL lheS
do not run more than from three to SIX years.
Baron Eranger was seen h at rn neor,sr He
sajd that he had not heard that the Attorney
General had sustained the validity OF the Shero,
kee bond contract by which the Cherokee Na,oIl
has right to assign the bonos 10 H. l. "i'o''
G. Co. $500 49,, ,oor ci,.o, ~, the
Attorney General" said the Baron, OF c0u,he,
there is nothing further for me to DO IL tne
bonds had been awarded to my syndicate they
would have been sold in Europe
Baron Erlanger, said last night that he would
remain in this country for week he VIII
then return to Paris He is interested IN 'a az
curities In speaking Of the condition OF the
Erlanger system Of railroads in the South, which
"a commonly known as the Queen and Crescent
lime the Baron said Il find that the prop
critics are in a good condition, and that they are
only waiting, like all other properties. Tor the
settlement by Congress Of financial and economic
questions to show a percentage of increase IN
their earnings. l think that the tide Is now
beginning to turn. and that the hard times are
about over Your present American Congress is
too slow in it's methods Of handling measures on
which the prosperity Of the country depends
I believe, however, that there Will be speedy
action on the tariff. and think that the Presi-
dent will veto the Seigniorage BILL
Baron Erlanger has a banking house both In
London and Paris He is an exceptionally we'll
and
this country. His interests are large. and much
of his revenue comes from his investments here.