The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-11-10

more bonds TO Be ISSUED
Secretary Carlisle Will Not Allow the
Surplus to Reach Lower Point.
WALL STREET HAS A SCHEME
uoid Exports in Order to Provide an
Investment for Accommodating
Funds OF Brokers.
By the United Press.

By the United Press.
Washington, Nov. y
Treasury officials have been aware
for some days of an agitation In New
York financial circles in favor Of a new
bond issue il has not escaped their
notice that the financial papers thar
voice Wall street sentiment daily call
attention 10 the treasury gold reserve
and suggest THAT il should be built UP
To strengthen public confidence III the
ireasurys condlton. Letters. too,
| have been sent 10 Secretary Carlisle by
financiers, ali having the same end in
view.
The surplus money in the New York
banks Is very great. and treasury Of
ficiaS here who watch the course of
money matters. do not hesitate 10 ex-
press the opinion that the solicirude cX
pressed by Wall street magnates for the
treasury Is not eutirely unseltish. bur
that a new bond issue IL desired BY
Wall street simply as a means Of pro-
viding an Investment for their surplus
and accommodating funds.
NgtimatIons OF gold exports to force
th1Ntreasury to issue bonds have
reached here through broker sources
and others who keep In close touch with
New York tinanciers. That they can
do this by presenting United States
notes for gold and thus reducing the
! gold reserve, is only too true, as proved
| by past transactions OF the kind. The
| opinion, however is expressed In treas
ury circles that Secretary Carlisle will
permit the gold reserve To reach Il much
! lower point than 1t now is-siXty-one
million-before he viii feel justified In
the present condition OF the treasury
in making another issue Of United
States bonds.
Wall Street opinion.
! New York, Nov. st was stated in
Wall street today that there will be an
| issue of $50 900 or 500, 900, 600 !, Der
cent. government bonds before congress
again re-assemhles.
When the last issue Of 100000 was
made, and the public declined to take
the bonds, a syndicate of bankers.
headed by John A. Stevens. president Of
the United States Trust company. aud
Edward King, president of the Union
Trust company. made the sale.
A banker, who was actively Interested
in that movement. makes the following
statement: There will be an issue Of
bonds shortly. The president and sec
retary OF the treasury have determined
/ that the gold reserve shall not be fur
ther impaired, They have been advised
that an export OF gold will begin in u
few weeks and they accordingly have
determined to take prompt measures"
When asked whether a syndicate
would be formed which would he guar
anteed Il commission To float the bonds,
he replied: Il do not know. That Hes
in the discretion of the authorities in
Washington. This much is certain, the
per cent bonds will be issued probably
upon the per cent. basis, as before.
They will he offered to the public; but
the same gentlemen who made the last
issue have assured the president they
will carry through the forthcoming is
sue"
The banker added that if S50,00O,OOO
bonds was insufficient $50, 900 900 more
would be Issued.