St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-19

to New York Syndicate
Price Will, Likely Reach 12O,
Making a 219 Per Cent Bond.
WASHINGTON. Jan. Is. Now that
Secretary Carlisle has taken action on
the bond question there is feeling of
relief among the treasury officials. who
have been viewing with uneasiness the
invading of the gold reserve. Printing
will be pushed rapidly, but the bonds
can be hardly ready for delivery before
Feb. /. They will bear interest from
that time, as announced by Secretary
Carlisle. Among the large crowd of
callers waiting to see Mr.. Carlisle today
was New Yorker who had come to
announce personally that he was willing
to take the whole 100000 in bonds to
| be issued. A request for his name was
refused. The aggregate amount of Of
fers received before the circulars was
issued is S40.000,0 600. All the offers so
far made, it is said at the treasury de-
partment, have come from persons and
firms in New York city. One offer to
take 100000 at LIS has been received.
1t was announced at the treasury de-
partment tonight that Secretary Car
Isle would make public the names of
the persons off ering to take bonds, the
amount they subscribed for, or the fig
ure they otfe red for them. To make
public the figures it was pointed out,
would give late bidders opportunity to
offer better terms than those offered by
THE EARLIER BIDDERS.
1t was said unOfficiallN. however, that
the 100000 offer was at the minimum
premium OF III .223. There is said to be
no likelihood of the acceptance of this
Or any similar offer, as it is contrary to
the secretary's desire to make the loan
a popular one, to which the public gen.
orally may subscribe. On this theory
1t is proposed to encourage offers for
small lots from all sections of the coun-
try, rather than to have the entire loan
taken by few dealers in large blocks.
The idea natu rally includes the hope
that the small denominations be taken
in preference to the larger ones. This,
of course, would involve the issue of a
great many more bonds.
1t is believed at the treasury depart
CO,LL
t he total offering will aggregate nearly
S2 200,000,0 and that the price will reach
120, making the bond practically bear
but 215, per cent interest.
The issue for the present will be con-
fined to denominations of $50. 500 and
$1,000 of coupon bonds, and $50, S1OO,
$1,000 and $4,000 of registered bonds.
IN case it is deemed advisable, arrange
ments will be made for $500 coupons and
$1,000 registered bonds.
The plates for the new bonds were
made at the bureau of engraving and
printing this spring by order Of
EX-sECRETARY FOSTER,
III anticipation of an issue of bonds dur
ing his administration, but the plan for
their issue was finally disapproved by
President Harrison.
The new issue of bonds will be re-
dee mable for gold. Estimates made to
Co mptroller Eckels by national banks
show that the national banks Of New
York city alone hold more gold than
the treasury cf the United States, or
rather than it contains free gold. In
included in the gold. The returns in
the principal cities show: New York,
SS3. 3.0OO.0 600; Baltimore. 81, ,979, 900; Brook
lyn, S450,000; Washington, $500, 900;
Cincinnati. s1.2Oo,O 900: New Orleans,
S45O,O00; st. Louis, s.. 100000 Kansas
City, S1.015, 600; Boston. 50, 20O, 600; Chi.
cago. 19,7OO,O 600; Philadelphia. 81, ,70o,-
600; Louisville. $500, 900; San Francisco.
81, 336 600; Milwaukee, S900,0
Treasury officials who have taken the
trouble TO search the records call atten-
ton to the fact that during the pend
ency of the Walker tariff, in 1857, reve-
nues declined. and q number of loan
and bond issues were made to keep no
current expenses and pay maturing
bonds.
A report reached the capitol today
that the United States supreme court
had adjourned
THE ISSUE OF BONDS
as proposed by the secretary. Clerk
Mckenney, of the court, when Informed
of it. said:
''It's fake. pure and simple. There
is not even shadow of basis for such
story"
Secretary Carlisle's proposed sale of
bonds has attracted widespread interest
in congressional circles. Among men,