New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-01-30

ing the legality Of the bond issue were made
plain. NJ offers. far could be learned.
were made by the bankers to subscribe TO the
issue and the Secretary made no request that
they should
When the bank presidents had lcit the confer
ence they had no clearer idea as to the financial
policy of the Government than they had when
they nis' went into the room. and there seemed
to be a feeling among them that the whole af
fair had been farce. and that at this late date
the Secretary might better have stayed in Wash
ington. unless hc had had some definite propo-
sition to make to the New-Yorl; banks. The con-
ference did not remove the doubts held by many
II tho Ncv-Yorl banks that the bond issue will
be- A failure and even the Democrats who were
present at the meeting failed to make any sign
- show the Secretary that they approved him
and his methods.
THE MEv WHO WERE PRESENT.
Those who were present At the meeting be-
sides the Secretary were Conrad y. Jordan.
Henry w Cannon II the Chase National Bank;
4 R Hepburn. of tho Third National Bank: J.
Edward simmons. of the Fourth National Bank
. .;.,rr, G Williams. = the chemical Nation"
Bank. v Ham L. strong ~ the C'a,cai National
Bank. Brayion Ives. 81 The Western National
Bank: Edward H. Perkins. jr.. of the Importers
and Traders National Bank; Edward King. ot
the Union Trust Company; eX-Secrctary Charles
: Fair.hlld: John \. Stewart. Of the United
States Trust Company: j. q. Woodward. Of
tho Hanover National Bank: +. T. Olcott. of the
Central Trust Company. ". y. Nash, of the
corn Exchange Bank: r. : Mason. ir. II the
Bank of Ncw-York. George i. Baker. Of the
First National Bank. stephen Baker Of the Bank
II the Manhattan Company W. Lu'Jen. Of
August Belmont u Co.. l.. Won Hoffman,. Of l..
Won Honmann Il Co.: Thomas IIillhouse. Of the
Metropollran Trust Company. and Dumont
Clarke. II the American Exchange National
Rank: James Stlllman. II the city National Bank,
Frederick H. Tappen. II the Gallatn National
Bank. and T. *. Wright. of the National Park
Bank.
Before the Secretary began TO speak about the
bond issue. he made few remarks about the new
system IF paying customs duties at this port
The bankers seemed to be in favor Of his scheme
and II will be put into operation this week.
The Secretary did most Of the talking at the
conference He opened the subject Of the bona
issue by reading from "A long typewriter state
mont about the action Of the Judiciary Commit
toe which was printed in The Tribune yesterday.
He said that he thought the resolution OF the
committee would not pass and he thought that
there was no doubt that the courts would affirm
his right to issue bonds
PREPARED TO ADMIT FAIll kf-
Before the Secretary had got far in his talk
he was interrupted by one Of the bank presi-
dents. who said: 1T looks. Mr. Secretary. as
though your bond issue will be failure. what
do you propose do about IT,
IL am not prepared to admit that 1t viii be IA
failure and cannot say what am going To do
about IT," the Secretary replied
Mr.. Carlisle then asked regarding the
lap he'd for
the bonds. and h. said that he had not charged
his memory with figures.
what provision have you made in case the
issue l. not subscribed forg' Mr. Tappcn then
asked
II have made no provision for failure" was
the Sccrtarys answer
Mr. stewart Mr. King and Mr.. Sherman then
asked the Secretary about meny points. but
they failed to get any satisfaction. Mr.. Stewart
asked the Secretary what he would do with the
money in case the issue were success. Mr.
Carlisle replied that he would use 1t as required
BY law The Secretary said that he would have
preferred to make his call for n Per cent loan
but that he had found 1t impossible When
asked by one banker wha. guarantee the coun-
try would have that the Government would not
find II necessary To issue n further loan, the
Secretary answered that he did not know. Mr.
Carlisle defended his right 10 issue bonds. which
had not been questioned much by the bankers
of this city but he left all other points. incud-
ing the success OF the issue. untouched on.
HOW MANY BONDS HAVE BEEN SUBSCRIBED FOR?
How far the issue has been subscribed for
could not be learned II Is the opinion or many
bankers that the amount falls below SlO.OOOOOO
and that those who do intend To take the bonds
are holding off until the last minute. The con-
ference was brought about by the Secretary be-
cause he had come to the conclusion that his
bond issue could only be noated with the assist
ance OF the New-YOrk banks. When the ques-
ton as to the validity OF the bonds was raised
some Of the subscriptions were said 10 nave been
withdrawn The American Exchange National
Bank still stands by its offer 10 take HOOOoOO Of
the bonds but no other banks are reported To
have made new subscriptions.
At the close OF the conference. Secretary
Carlisle went over to the Lawyers cub, where
he had luncheon and then he went directly To
the Pennsylvania Railroad station. lie refused
absolutely To talk for publication.
The bankers who attended the conference who
were afterward would not allow their names
to be used One bank president said
The Secretary spent most or his time In ex-
planning his legal right TO issue bonds. His