Evening star., 1894-11-21
NO SPECIAL UNEASINESS
Felt by the Steady Bun on the Treasury
Gold.
Report That Three Trust Companies
. ing With Their Own Gold.

The steady run that has been made on
the government gold since the 18th instant,
when Secretary Carlisle issued his call for
bond subscriptions, does not appear to
cause any special uneasiness at the Treas
ury Department. The prediction Is freely
made at the department by persons on the
inside that the loan will be over-subscrib-
ed. and that the treasury gold balance
will be materially increased In the trans
action. This apparent confidence of an in
creased gold reserve lends a strong color
Of probability to the report that comes
from New York today to the effect that
three trust companies, namely, the United
States. the Union and the Farmers Loan,
and the banking houses of Drexel. Morgan
y Company, Speyer & Company. kuhne.
Loeb & Company and Brown Brothers &
Company. will practically subscribe for
the whole issue of the bonds at about 3
per cent, that is. at 118.1O3, from Novem-
Der 1, with accrued interest. According to
the story, they will bid individually, and
thoy have already secured sufficient gold
TO make the first payment Of 20 per cent
on notice of the acceptance OF their bids.
1t is also stated that the institutions
necessary to complete the purchase from
their own vaults, without resource TO the
subtreasurieS.
. =, Accounts for the Confidence.
The existence Of an understanding of this
character would clearly account for the
confidence freely expressed at the Treas
ury Department in the entire success Of ;he
loan as a means Of replenishing the gold
balance. 1t is undisputed that Secretary
Carlisle has control Of the situation so far
as the allotment Of the bonds is concerned,
and also that such allotments Will be made
with the prime object Of increasing tie
treasury's stock of gold. Consequently
more favor will be shown to those bidders
who propose to use their own, in prefer
ence to those who have drawn their gold
from the treasury in exchange for legal
tenders and treasury notes. This discrim-
ination is almost certain to be made In
cases where all the other conditions Of the
bids, are equal
Time Will Expire Saturday.
According to the terms Of the treasury
circular, the time for the submission Of
proposals for the bonds will expire "a noon
on Saturday. and proposals received after
that hour will receive no consideration.
Until that hour all the proposals will re-
main sealed, and will be treated as conf
Dental. They will be opened together at
noon on Saturday. and will be Immediately
scheduled for the consideration and action
of the Secretary. The allotments will not
be announced however, until Monday. and
the successful subscribers will not receive
official notice of the acceptance of their
offers until Tuesday at the earliest. Con-
sequently the first payment of ~ per cent
will not have to be made until Tuesday.
What Will BE Required of Bidders.
According to the circular. bidders whose
proposals are accepted will be required to
pay ~ per cent In gold coin. or gold cer-
tificates. upon the amounts Of their bids
as soon as they receive notice Of the ac-
ceptance OF such bids, and to pay In like
coin or certificates an additional 20 per
cent at the expiration of each ten days
thereafter. until the whole Is paid: but
they may, at their option. pay the entire
amount OF their bids when notified OF ac-
ment is payable. The first payment, how
ever, OF not less than ~ per cent must
be made when the bidder receives notice Of
the acceptance OF his proposal"
. 3 ia No Unusual Drain Today.
II any gold was withdrawn from the
subtreasury at New York today on account
of the bond issue or for other purpose the
Treasury Department had not been inform
ed Of 1t up to 3 o'clock. This fact is taken
to mean that there was no unusual de-
mand for gold at New York today, mas
much as prompt notice Is usually given
of such transactions. 1t Is possible, how
ever, that there may have been some calls
for gold late in the afternoon and that the
assistant treasurer will not report 1t to
the department until the close Of business
today. The total gold withdrawal from the
loan is about $5.O25.OO. all Of which was
taken at New York. with the exception
Of s775,OOO. taken at Boston and else
where.