Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-01-30
THE CARLISLE LOAN.
CONFERENCE OF THE SECRETARY
WITH NEW YORK BANKERS.
The Gotharnites Think the Issue Will Not
BE Success--The X.
of l.. Suit.

NEW YORK, January 9.-The restora-
ton OF harmonious relations between the
Treasury Department and the New York
banking community was favorably COM
mented upon In local financial circles to-
day. Heretofore there has been a ten
dency on the part OF leading Treasury
officials to ignore local banking interests.
This seems 10 have disappeared. however,
and at the Sub-Treasury to-day the fol-
lowing bankers were present to meet
Secretary Carlisle: +. d. Tappan, Cen
eral Hillhouse. +. Il. Olcott, Charles B.
Fairchild, Il. III. Perkins. Jr.. a. +. Hep
burn. Dumont Clarke. George +. Baker.
L. Van Hoffman, J. f.. Simmons, Brayton
Ives, II. W. Car non, w. l.. Strong, James
T. Woodward. Edward King, John Stew
art, Charles Lanier. Stephen Baker. w.
f. Nash and Walter Luttgen. Thee rep
resent New York's leading banks and
trust companies.
The conference was OF an hour and a
half duration. The talking was done
almost entirely by Secretary Carlisle, who
defended the legality of the issue Of
bonds. and sought to impress upon the
bankers the advantage Of Offering ) per
cent bonds on per cent. basis.
NEW YORK OPINION.
President Frederick d. Tappan. of the
GallatIn National Bank, finally said: "Mr.
Secretary, II Is the opinion Of a majority
Of the New York bankers that your pro-
posed issue OF bonds will not be a sue
cess. What will you do II 1t Is not? How
much do the subscriptions now amount
to-"
The Secretary replied: 81 certainly do
N Tnpre1a that ba will ha "A
success. / do not look forward to any
such contingency. As to the amount OF
the subscriptions. / have not charged my
mind with the figures II the subscrip-
tons run up TO s75,0O0.000 | intend TO sell
that many BOMBS"
No promises of subscriptions were made
by the bankers. The Secretary took
luncheon at the Lawyers Club wf~. ex-
Secretary -of-the-Treasury Charles ). FAIR
child and Assistant United States Urea
surer Conrad y. Jordan, and left FOR
Washington at 20 o'clock.
The objection OF the bankers TO subscrib-
ing for the bonds is that they carry no
commission, as former issues have done
and are sold at too high premium iof
short-term bonds.
RESULTS OF THE CONFERENCE.
Before his departure Secretary Carlisle
giving his Impressions OF the conference.
Neither would any of the others present
enter into details OF what took place, I'M
less with the proyiso that they were not
to be quoted.
one Of the bank presidents. who was
seen at his Office this afternoon, san that
the conference had taken the shape OF an
informal talk and that Secretary Carlisle
had spoken very freely on several points
anent the s50V0.O0O issue of per cent.
ten-year gold bonds. He dwelt especially
upon the legality of the issue. insisting
that there was not the slightest douDt
on that point, and that the courts would
so hold. AS to the resolution introduced
in Congress with a view 10 having the
issue declared Illegal, he expressed the
opinion that II would fail of passage.
THE Secretary was assured by many
of those present" continued this gentle
man. that If the legality of the issue
was shown to be beyond question, there
would be no doubt that the entire amount
would be subscribed for Internationally
and at the upset price right here In New
York
SYNDICATE SHENANDOAH"
"Mr. Carlisle referred in a somewhat
guarded way to knowledge he possessed
as to the disposition manifested by GER
tain banks here TO discredit the value OF
the bonds, In the interest Of syndicate
but that matter went no further. No
thing was said as TO the extent to which
the bonds had been spoken for in this
city. The conference was of the plea
santest possible character As TO definite
results. the future may develop them"
The only definite information obtaina-
HE as to the matter of subscriptions 10
the issue in this city was that the offer
OF 100000 by the American Exchange
Bank would stand