The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-01-30
BAyEERS AND THE BONDS.
Carlisle Boards the Financial Lions in
Their DelS.

prstend to Doubt the Secretary's
an,Iitv to Float Them at the High
,-.roiurn Proposed-The Secretary
- ofthe Same Opinion as the FL
,oiars-He Insists That There Is
No poubt of the Validity of the
Issue.
Now York, Jan. 29.-The restoration of
uarrnonious relations between the treas
80, aonartment and the New York bank
49, community was favorably commented
',ror in local financial circles to-day
Toratofore there has been a tendency on
the mart of leading treasury officials to
;orore local banking interests. This
.eems to have disappeared, how
ovor and at the sub-treasury
to.dav the following bankers were
,rosent to meet Secretary Carlisle
h n Tappan. Gen. Hillhouse, f. p. Oh
rott Charles S. Fairchild, Z. fl. Perkins,
t. 10 A. P. Hepburn, Dumont Clarke,
George F. Baker, l.. Van Holman, j. r.
simmons. Drayton Ives, H. w. Cannon,
" /. String, James L. Woodward, Ed
ward King, John Stewart, Charles
Isnier. Stephen Baker, w. E. Nash and
l-ulLEtu.
Works leading banks and trust COM
panes -
The conference was of an hour and
baIf's duration. The talking was done
almost entirely by Secretary Carlisle,
who defended the legality of the issue Of
the bonds and sought to impress upon the
bankers the advantages of offering 8 per
cent. bonds on a per ceut. basis.
President Frederick d. Tappen, of the
Gallatin National Bank, finally said:
"Mr. Secretary, it is the opinion of
majority of the New York bankers that
YOUR proposed issue of bonds will not be
success What will you do if it is not?
How much do the subscriptions now
amount toW
CARLISLE NOT APPREHENsIvE.
The secretary replied: "I certainly do
not concede that the issue will not be
success; | do not look forward TO any
such contingency. As to the amount of
the subscriptions, have not charged my
mind with the figures. If the subscrip-
tions run up to S75, 900, 900, intend to sell
that many bonds"
No premises Of subscriptions were
made by the bankers. The secretary
took luncheon at the Lawyers Club with
GA1OtCTtldEN D
Fairchild and Assistant United States
Treasurer Conrad N. Jordan and left for
Washington at $50 o'clock. The objec-
ton Of the bankers TO subscribing for the
bonds is that they carry no commission,
as in former issues, and are sold to too
high premium for short term bonds.
CARLISLE NOT COMMUNICATIVE.
Before his departure Secretary Car
Isle took extraordinary precautions to
avoid giving his impressions of the con-
ference. Neither would any of the others
present enter into details of what took
place, unless with the proviso that they
were not to be quoted.
One Of the bank presidents, who was
seen at his office this afternoon, said that
the conference had taken the shape of an
informal talk, and that Secretary Car
Isle had SPOKEN very freely on several
points favorng S50,C00,000 of per cent
Ten year government bonds. He dwelt
specially upon the legality of
the issue insisting there was not
tne slightest doubt on that point, and that
tne courts would so hold. AS TO the
resolution in congress w III a view to hav-
ing the issue declared illegal, he ex-
pressed the opinion that it would fail of
passage.
WILL BE BOUGHT IF LEGAL
The secretary was assured by many
Of those present." continued this gentle
man, that if the legality of the issae
was shown to be beyond quest on, there
would be no louht tha the entire
amount would be subscribed Tor
Ior uncondluonally and al the upset price
Fgnt here In New York.
secretary Carlisle referred in a some
~nat guarded way to the know ledge he
possessed as to the disposition manifested
US certain banks here to discredit the
ydIle OF the bonds in the interest of a
ssSuulcate, but that matter went no far
tner; Nothing was said as to the extent
~ ! winch the bonds had been spoken for
IN thls city, The conference was of the
99lesaSantest possible character AS to
Vteanlte tt. results, the future may develop
me only definite information obtained
;a, a. 10 the matter of subscriptions to the
O. iS'He C6o IN this city was, that the offer for
Iplgy}o'OVO by the American Exchange