The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1894-11-24
OPENS The BIDS.
Secretary Carlisle Examines the
Offers for Bonds.
A New York Syndicate Bids for
the Entire Issue.
THE OFFER is 116.S9S.
4 Large Number Of Capitalists
Present at the Treasury.
THE OFFER is .S9S.
A Second Bid by the Same Syn
dicate is 117.O77.

WASHINGTON, Nov. 24-In conformi-
ty with his circular dated November 13,
1894, the secretary of the treasury today
opened the bids which had been sub
mitted for a new bond issue of $50,OJ0.-
600 United States 5. per cent bonds, to
bear date of November /, 1894, and re-
deenlable in coin at the pleasure of the
government after ten years from the
date Of issue. This action Of the secre-
tary is taken under the authority CON
tanned in the act of congress, approved
January IA, 1875, entitled ''An act to
provide for the resumption Of specie
payments"
This issue of bonds is made for the
stated purpose Of replenishing the gold
reserve which by Withdrawals for ex-
portatiOn, other purposes has now
beer reduced to less than $5S,O00.00O.
Nearly ali of the recent Withdrawals,
however, amounting 10 about 500, 100000
have been made presumably for the pur-
pose of purchasing bonds of the pending
issue.
Under the terms of the secretary's cir
cuiar of Nov. 13. bidders whose pro-
posals are accepted. will be required to
pay p per cent. in gold, or gold certi1i-
Gates, upon the amounts of their bills as
soon as they receive notice of the ac-
ceptance OF such bids, aud to pay in like
coin or certificates additional % per
cent. at the expiration of each ten DAYS
they may, at their option, pay the entire
amount of their bids when notified of
acceptance, or at any time when an IN
stalIment is payable.
The first payment, however, Of not less
than % per cent must be made when the
bidder receives notice of the acceptance
of his proposal
The denominations of the bonds Will
be 80 and upward. and will be dated
February I, 1894, in order to make the
proposed issue uniform as to date with
the existing issue; but interest
thereon will begin November I, 1891
and bidders Will be required to pay
accrued interest at the rate at per cent
on the face value of their bonds from
November l. to the date or dates Of pay
ment
The main bid for bonds was by a syn.
dicate Of bankers Of New York, London.
Philadelphia and Boston, and for
S5O,OJO.OOO at $116.S9S- The bidders in
cluded the DEexel Morgan company, L.
> Trust company Of New York, and the
large New York banks
Secretary Carlisle shortly after noon
held conference with treasury officials
for the purpose of deciding whether the
bond proposals should lie opened in pub
lie or private. At 1z:45 o'clock a large
delegation of bankers were present and
representatives. of the press Assem- bled
in Assistant Secretary Curtiss Office to
hear tho bids announced. In the corri-
DIR outside was large gathering of cor
respondents who could not, owing to the
limited capacity of the room, be ad nit
ted
Among the bidders present were Mr.
]. Pierpont Morgan, of Drexel, VI organ
& Co, bankers of New York; Robert
Bacon Of +. Rollins. Morse & Co.. bank
ers. Boston; Albert Sietheimer broker.
New Yors; f. w Reimic6, with kidder,
Peabody & Co, bankers; Pliuey Fisk Of
Harvey. Fisk & Co, bankers, New York
The reading Of tie bids closed at :5O
p m. The aggregate, including both
bids of Drexel Morgan & Co, amounted
to about $155,00o,00O Counting only one
of them to $lO5, 100000
The fifty million bid provides that
forty million of bonds are TO be delivered
IN New York; three m.llion at Boston;
three million at PhuadelD Dhia; two mill
ion at Chicago; and two million at San
Francisco. The bid is made by the
United States Trust company of
Ne.5 York; Drexel, Morgan & Co..
New York; First National bank
Of New York. and Harvey Fisk
& Sons. They add the Information
that the parties interested with them in
the joint bid are: Drexel & Company,
PAiiadelphia; J. $ Morgan q Co, Lon
don; National Bank of Commerce. New
Chase National Bank, New Y Ork, \ d
tional City Bank. New York; Hanover
y ational Bank. New York; First Nation
al Bank, Chicago. Mutual Life Insurance
company. New York; Galatin National
Bank New York: Manhattan Company,
New York; Morton Bliss & Co.. New
York: Heidelbach, Eckelheimer & Co.
New York; J. & 5 Wormser. New York;
J. s W. Seligman & Co, New York,
Blair & Co., New York; Vermilege & Co;
New York; First. Smithers & Co, n. Y;
Edwards, Sweet & Co., New York:
kountze Bros, New York: Laidlow s.
Co. New York; Bowering Savings Bank,
New York; Knickerbocker Trust Co.. n.
y. Greenwich Savings Bank, New York;
Cooper, Hewitt & Co, New York; A. Z.
Orr, of the Brooklyn Savings bank;
Brewster, Cobb s. E,tabroOk, Boston;
Wlnslow, Lanier 8 CO., Brooklyn Trust
company, T. Rollins. Morse & Bro. and
Blake Bros. & Co.
A second syndicate bid by the same
parties was submitted for the full $5J,
0JO.yOO, all or none, at 1ILO99, being a
shade below per cent
1t was decided to admit representa-
tives of press associations to the open
ing of the proposals
Following are the names of the largest
bidders as announced. the amount OF
their bids and the price per 500:
Mechanics Savings bank, Rochester,
\. Y, $4,000 at 116; Henry stephens,
Detroit, Mich, 100000 at 1OOs Dolla-
Savings bank, Pittsburg, $1,000 Q