Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-11-26
Mr.. John A. Stewards Bid for the
Entire Loan Accepted.
ALL THE GOLD FURNISHED OUTSIDE
What the Bonds Will Realize tx
the Government.
A SATIS FACTORY RESULT

Secretary Carlisle has acted promptly
in the matter Of the allotment of tho $780,
100000 ten-year per cent bonds. bids for
which were opened at the Treasury De-
partment Saturday. AS was predicted In
Saturdays Star, he today notified Mr.. John
A. Stewart Of the u. s. Trust Company Of
New York Of the acceptance Of the pro-
posal submitted by the syndicate repre-
sented by that gentleman to take the en-
tire issue at $117O77.
The Action Explained.
The following statement was furnished
the press in explanation of this action;
THE Secretary of the Treasury has ac-
cepted the proposal Of Mr.. John A. Stew.
art, president of the United States Trust
Company. and his associates to purchase
the entire issue Of B per cent bonds
amounting to $JO,000.0OO, at 117.077, and ac-
crued interest from November l. The pro-
ceeds of the bonds under this bid will be
$49.517.62 greater than they would be II
the other highest bids were accepted. A
very important advantage to the govern
ment In accepting this bid is the fact that
none drawn from the treasury. 1t is also
more convenient and less expensive to the
department to deal with one party rather
than with many"
The Successful Syndicate.
The successful syndicate is composed OF
the following named firms: United States
Trust Company of New York. Drexel, Nor
gan & Co., the Union Trust Company OF
New York, the First National Bank OF
New York and Harvey. Fisk & Sons. rep
Iesenting the following: Drexel Il Co..
Philadelphia; ]. S. Morgan & Co., London;
the National Bank of Commerce, New
York; the National City Bank, New York:
the Fourth National Bank, New York; the
National City Bank, New York; the Hano-
Matt mol Nauy Xnrlr fba( llof Tin,
National Bank. New York; the Merchants
National Bank, New York; the First Ma
tional Bank, Chicago; the Mutual Life In
surance Company, Chicago; the Manhat-
G. Co., New York; Heidelbach, Ickelheimer
& Co., New York; /. &. S. Wormser. New
York; ]. &. w: Selgman & Co. New York;
New York: F. s. Smithers & Co. New
York; Edward Sweet & Co., New York:
Kountze Brothers. New York; Laidlaw
& Co., New York; the Bowery Savings
Bank of New York; the Knickerbocker
Trust Company, New York; the Green
wich Savings Bank New York; Cooper,
Hewitt & Co., New York; A. r. Emo, New
York A. E Orr nhn for HEs9slyn SAVINGS a
ton; Winslow, Lanier g. Co.. New York;
the Brooklyn Trust Company. L. Rollins
Morse & Brother, New York. and Blake
terms of their bid s40,OOO,OOO of the bonds
are to be delivered in New York. $,OO,OOO
In Boston, 100000 in Philadelphia, $2,-
100000 in Chicago and $2.0OO.OO0 In San
Francisco
What the bonds VIII Realize.
The bonds, including premium. will realize
to the government about SIS, 500, 900 and will
swell the current cash balance to that ex-
tent. Inasmuch as the successful SUBJ
scribers will use their own gold in making
payment, instead of taking ii from the
treasury, the increase will be entirely in
that coin, and the gold balance. which is
now about $57, 100000, will be increa sed to
Sis, 100000, or more than Sl5.O00O00 above
the $10O,O00O00 adopted as the proper sum
to be reserved for the redemption of out
standing legal tenders.
A Satisfactory Result.
The action of the department in allotting
the bonds meets with general favor among
those having the interests Of the govern
nient at heart, as the proposal accepted
was by far the most advantageous In its
terms. The bids offered at rates above
1l1u77 aggregated about SI0,250.OO0. while
the remaining $50, 10000 We're at rates be-
low the successful bid Altogether the re-
suit of the bids is pre-eminently satisfactory
to the treasury officials, ii shows that
not only was there a brisk rivalry for the
bonds, but the rate of interest demanded
was even lower than was generally ex-
pected At no time during the tendency Of
the issue has Secretary Carlisle doubted
that ii would all be eagerly taken, and at
satisfactory rates.