The herald., 1894-11-25
THE BIDS FOR BONDS OPENED.
Many Responses to Carlisle's
Circular.
The Secretary Has Good List to
Select From.
One Syndicate Offers to Take tho En-
tire Issue at 117.O77-Many Small
Bidders-&154,37O,
offered.
By the Associated Press


fore l O'Clock. At O'Clock it was
stated that hurried calculation showed
that the total number OF separate bids
was 297, aggregating 1854, $40, 800. The
largest bid was the syndicate bid of the
United States Trust company, Drexel,
Morgan & Co. and others, at 117.077 for
the whole amount or none. This WAS the
best bid offered, az the aggregate of the
bids above this figure was only about
$40, 324, 100, leaving about $3S, 675, $50 at
less figure. II therefore seems prob-
able that the syndicate bid will bs &C.
cepted, although Secretary Carlisle
stated that he could NOT express an
opinion az to the result until next
Monday, when the awards will be made.
According to the terms of this bid. the
government will pay 2.S1S per cent in
tsrest on the $50. 100000 rs against 8
per cent carried by tine first issue.
There is possibility, however, that
. close calculation will disclose the tact
that there is q sufficient number of bids
{ at q better rate than this, which. with
the second syndicate bid at ZIG. 1898 or
2.899 per cent, may make q combination
slightly more advantageous to the gov
eminent than the other, although this
10 very improbable.
Altogether the result of the bids is
sminently satisfactory to the treasury
officials as it shows shat not only was
there brisk rivalry Sor the bonds, but
the rate of interest demanded was even
lower than was genera lily expected.
This issue OF bond, is made for the
Il ..I - Il 4
reserve, which by Withdrawals for ex-
portation and other purposes. has now
been reduced to lees than sos, 900. 900.
Nearly all OF the recent Withdrawals,
amounting to sbouss $5,000,000, have
been made presumably for the purpose
OF purchasing bonds of the pending
issue.
Under the terms OF the secretsry's
circular of November 18th, bidders
whose proposals are accepted will be re-
CURED to pay 20 per cent in gold coin,
or gold certificates, on the amounts of
their bids as soon a. they receive notice
OF the acce ptance od such bids, and to
pay in like coin or certificates an ad-
dit;onal 20 per cent at the expiration OF
each 10 days theres liter. until the whole
10 paid but they may. at their option,
pay the entire mount of their bids
when notified of acceptance, or at any
time when an insitallment is payable.
The FIRE. payment, however, OF not less
than 20 per cent M nst be made when the
bidder receives notice of the acceptance
of his proposal.
The denominsticms of bonds will be
$50 and upward an will be dated Feb.
ruary l, 1894 in order to make the pro.
posed issue uniform as to date with the
existing issue, but interest thereon will
begin November I, 1894, and bidders
will be required to pay accrued interest
at the rate of pa r cent on the value
from November to the date or dates of
payment.
1t was decided to admit representa-.
:ives of the press associations to the
opening of the bids. The following are
the names OF the largest bidders as an.
nounced, the amount of their bids and
the price per 500:
Mechanics Savings bank, Rochester,
10000 at 1l6.
Henry Stephens, Detroit, 100000 at
100.
Dollar Savings ba NIX, Pittsburg, $780,
900 at 1855.
P. B. Armstrong. president American
IN ion Life Insura uce company, New
YORK, 100000 at 11e.06.
Whitaker & HOFFMAN, St. Louis,
$1,000 at per cent.
Maryland Trust CO pany, Baltimore,
$780, 900 at 1869.
First National bank, St. Joseph, Mo-,
$1,000 at III.
Third National tssnk, Cincinnati,
$4,000 at 1851.
James Talcott, New York, $4,000 at
III; $150000 at 116. $50; 100000 at
l16.O81.
Scheefer Brothers, New York, $780,.
600 at 49, 1884.
F. s. Smithers & Co. New York,
5000, 1000 at 116 "a.
Continental hank, New York, $780,
600 at 116.l O3; 500. 200 at 1l6. 25;
100000 at 116.525; $4,000 at 116.1O3;
$50, 900 at 117.2l25.
August Belmont & Co., New York,
500, 900 at 116 SO.
Importers and Tradsss' National
bank, New York. $4,000, 900 at l16.
Henry Tessuer, Dayton, o., $1,000 at
117.25.
Security Trust and Safe Deposit
company. Wilmington, Del, $780, 600
ct 116 1893.
Wisconsin National bank, Milwaukee,
Wis, $4,000 at 117.2l25-
Dhuk VI Dhusuolu, OuIUy 4DUUU at
1l7.223.
Brewn Bros., New York. $500, 600 at
1915.
Brown. shipley & Co., London, ST.
000.0 at 1923.
Continental Bank OF Chicsgo, $500, 600
at 1850; 100000 at 1l6, and $50, 900 at
1905.
L. W. Morrison, New York, 100000
ct 116 81.
The Wisconsin National bank, Milwau-
kee, $4,000 at III.
First National bank of Grafton, W. Va,
$l15,000 at 1l6.
First National bank of Springfield,
o.. 500, 900 at 1910.
The Nassau Bank of New York, $780,
600 at l16.10; 500, 900 at 1865: $lOO, 600
ct ll6 %, and $l00, 900 at 116. SO.
McKeen & Co., Terre HAute, Ind,
$4,000 at 11600S.
Marshall q Schley, Milwaukee. s25.-
600 at 1l6.06.
The Indiana Trust company, Indian.
apolis. 81 100000 at 116.
National Branch bank, Madison, Ind,
s25, 900 at JIG. 1O3.
The Atlas National bank of Cincinnati,
500, 900 at 1850.
Bank of Lenoir. N. O.. SIS 900 at l2O:
500. 600 at 116.8I8l.
Goldman, Sachs & Co., New York.
$3.50, 900 at 1926; 5000 600 at ZIG. 25l
$3.50, 600 at 1l6 376; $3.50. 200 at ll6 625
$500, 600 at 1865; 100000 at 1l6. rs.
Manhattan Truet con,nonu NJ,