The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-12-30
pANxERs ARE WAY HOT.
They Blame Carlisle Z r the Slump In the
Bond Quotations,

New York, Dec. 29.-New York dnan-
ciers have at last come out fiat-footed
and unreseryedly against the admins
| tration and Secretary Of the treasury
Carlisle. Action taken today by the
syndicate which purchased the recent
issue of government bonds, while not
Of wide importance in itself, is full OF
great significance for the future. 1t
| means Wall street has helped Carlisle
on generous terms for the last time,
| and. while the governments credit is
| not seriously affected. the administra-
! ton must hereafter go into the open
market for help. Such was the i'm
port of the following circular sent out
TO members of the syndicate, accord
| ing to leading member:
The action of the. United States
treasury on currency questions having
stopped progress in the sale Of bonds
for the account of the per cent bond
syndicate and the period of thirty days
mentioned in the notice OF Nov. 2
having expired. the syndicate is dis
solved"
The selling syndicate is left with 49,
100000 bonds unsold. This amount has
been distributed proportionately to
their members. They can sell or keep
them, as they like. but for the time be-
ing al any rate their money is locked up
in them. for the price Of government IS
has declined TO a figure showing no
profit.
1t has been understood for some time
that the syndicate members felt and
nave not hesitated to express a great
deal of resentment at the currency
bill recommended by President Cleve-
land and Secretary Carlisle z yer
since the introduction of the bill the
bonds have been weaker and they are
now quoted at 1171a, whereas, immedi-
ately after the issue the syndicate dis
posed of some of them at 1872 The
bonds were allotted to the successful
syndicate at 117.0S7. which yielded the
purchasers ISIS per cent on the invest
Inent- A part of the bonds We're offered
at 119 by the syndicate as soon as the
syndicate bid was accepted. From this
figure the selling price was advanced
to 1l91a, but not many were sold at that
figures and then came Mr.. Carlisle's cur
rency bill and the demand for the bonds
ceased.
The feeling Of the bankers who took
the recent issue, and New York finan-
ciers in general, toward Secretary Car
Isle and the administration was eX-
pressed by Mr.. Pliny Fisk Of Harvey
Fisk & Co., the famous bond firm
which subscribed for over sc. 000, 900 of
the holdings of the syndicate were Of
fered for sale. Mr.. Fisk said: THE
recommendations to congress of Presi-
dent Cleveland and Secretary Carlisle
Tor a new currency system and the de-
struction of the present national bank
ing system after the administration
had secured purchasers for the recent
bond issue as they did, was treacher-
Gus. Carlisle took advantage of his
friends here to sell the bonds at high
price. He is guilty of trick for which
big operator in Wall street would
have been stabbed. The loss of profit
to the syndicate is matter of slight
Importance. 1t is the principle of Car
Isles conduct which we consider"
Mr.. j. Pierpont Morgan was said to
be incensed at Carlisle's conduct, and
the sentiments expressed by Mr.. Fisk
We're shared by every banker seen.
There were twenty-seven banking
houses in the bond selling syndicate
John A. Stewart, president of the
United States Trust company, said:
1.-The syndicate was formed for spe-
Gifted time and, that time having eX-
pired, the syndicate dissolves. All the
bonds have not been sold on account
of the fall in the price below the figures
at which they were purchased. l don't
wish to criticise Mr.. Carlisle, but it is
evident that his currency plans have
operated to depreciate the bonds"
Vice President Garland of the First
National bank this morning con-
been dissolved. 1T has been dissolved
today by mutual consent said Mr..
Garland, the parties to the agreement
having only agreed to hold the bonds
for a month. The question of entering
the syndicate will not cause any break
in the price. The break has already
come. There will not be any further