Crawford avalanche. (Grayling, Mich.) 1879-19??, 1894-12-06

nv Mm,.., the syndicate repre-
WbK''W" sented by John A.
"''Iih" Stewart, Of the Unit
ed States Trust Com
pany of New York, and others to take the
entire issue at 117O77. 1t is the expecta-
ton of the treasury officials that the de-
posit of gold for the payment of the bonds
will be made promptly, and, as the under
standing is that none of the gold is to be
taken from the treasury, an early restora-
ton of the gold reserve to above the
S1OO, 600, 900 mark will be the result. The
bonds, including premium, will realize the
government about $5S, 100000.
The gold balance, which is now in round
numbers, $57 800, 900, WILL If the expecta-
tons of the officials regarding the deposits
Of the gold bonds are borne out, be in
creased to about 81 16, 100000. Previously,
however, there had been $4,55O,OOO in
yold drawn from the subtreasury at New
York, presumably to be used in the pay
ment of the bonds. Assistant Secretary
Curtis heard inofficially over the long
distance telephone from New York that
sS, 900 600 in gold had been deposited in
the subtreasury there for bond payments
The bonds are deliverable 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
ID expected, soon be ready for distribu-
ton.
The denominations of bonds which the
syndicate will take are as follows
Coupons: $50, $25,OO0; 800, $4,000;
81. 900. S34, $4,000 Registered: $1O,-
900, $15,O00.000.
The condition on which the bonds are
accepted is shown by the original propos-
al of the syndicate, which is in the follow
ing terms, minus the names of the COM
panies composing the trust and the de-
nominations wanted:
1--WE hereby propose, under the terms
of your circular of Nov. 13, 1894, to pur-
chase United States per cent. ten-year
bonds described In said circular of the
face value Of $50, 0,0OO, 900, and we agree
to pay therefor at the rate of 117.077 and
accrued interest per 500. This bid Is
for the whole $50, 900 900, but not for any
lesser amount We further agree, upon
due notice of the acceptance of this sub
scription, to deposit the amount thereof
In gold coin or gold certificates with
United States Assistant Treasurers at
sither Boston, New York, Philadelphia,
Baltimore, Washington, Cincinnati, Chi
cago, st. Louis, New Orleans, San Fran
cisco, in accordance with the terms of
said circular.
1--WE desire Registered or coupon) bonds
In denominations as stated below, and we
wish them to be delivered to us as fol-
lows S40,OOO,O00 at New York, $3,000,-
900 at Boston, So, 600, 900 at Philadelphia,
1000, 900 at Chicago, and $2,OO0.0O0 at
San Francisco, or other United States
treasures, as may be approved by the
Treasury Department"
The total sum that the Government will
receive for the issue will aggregate
about sos, 5OO,0 900, and as the understand
ing is that the syndicate will not take
gold out of the treasury to pay for the
bonds, healthy increase in the gold re-
serve will be the result. From the state
ments contained in the bid made by the
syndicate, treasury officials believe that
between $30,0OO,0O0 and S40,0OO,00O of
the gold will be paid in at the sub-treasury
at New York, and the remainder at the
sub-treasuries in Boston, Philadelphia,
Chicago and San Francisco.