The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-11-10
TALK OF A NEW BOND ISSUE.
Wall Street Looking for S5O,OOO,OOO
to SiO0,OOO,OOO.

Banker Says President Cleveland
and Secretary of the Treasury Car
Isle Are Determined to Keep Up the
Gold Reserve - On the other Hand
Washington Gossip Put the New
Yorkers in the Position of Wanting
the Bonds for Investment Purposes
and Secretary Carlisle as Determined
Not to Issue Them if 1t Can Be
Avoided.
New York, Nov. 9.--It was stated on
Wall street to-day that there will be an
issue of s5oOOO,OOO or 500, 900 govern
ment per cent. bonds before congress
again reassembles.
When the last issue of $4,000, 900 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. and Edward King
president of the Union Trust Company,
made the sale
A banker who was actively interested in
that movement makes the following state
ment: There will be an issue of bonds
shortly. The President and the Secretary
of the Treasury have determined that the
gold reserve shall not be further i'm
paired. They have been advised that an
export movement of gold will begin in a
few weeks. and they accordingly have de-
termined to take prompt measures"
When asked whether syndicate would
be formed which would be guaranteed a
commission to float the bonds, he replied:
Il do not know. That lies in the dscre-
ton of the authorities in Washington
This much is certain-the 5 per cent
bonds will be issued probably upon the
3 per cent. basis, as before. They will be
offered the public, but the same gentle
men who made the last issue a success
have assured the President that they will
carry through the forthcoming issue"
The banker added that if $4,000, 900
bonds was insufficient, $50, ,00e, 900 more
would be issued.
Washington, Nov. 9.-Treasury officials
have been aware for some days of an agi-
tation in New York financial circles in
favor of a. new bond issue. 1t has not es-
capped their notice that the financial papers
that voice Wall street sentiment daily call
attention to the treasury gold reserve and
suggest that it should be built up to
strengthen public confidence in the treasu-
~ = NOAANAAlpus A<CNAGIns lOOs nave DGGn
sent to Secretary Carlisle by fnanciers, ali
having the same end in view. The surplus
money in the New York banks is very
great and treasury officials here, who
watch the course of money matters do not
! hesitate to express the opinion that the
solicitude expressed by Wall street mag
mates for the treasury is not entirely un-
selfish, but that new bond issue is desired
by Wall street simply as means of pro-
Vtding an Investment for their surplus and
accumulating funds. Intimations of gold
exports to force the treasury to issue
bonds, have reached here through broker
sources and others who keep in close
touch with New York financers. That
they can Go 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 treasury
circles that Secretary Carlisle will permit
the gold reserve to reach a much lower
point than it now is, S61, 900, 000 before he
will feel justified, in the present good con-
dition of the treasury, in making another
issue Of United States bonds.