Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-01-20
7 HE NEW BON DS.
They Will Hardly Get Into the
Peoples Hands.
LARGE NUMBER OF OFFERS RECEIVED
Will Probably Be Awarded to One
or Two Firms.
THE PREMIUMS PROPOSED.

Secretary Carlisle received several offers
for the new per cent bonds this morning.
and they were tabulated with previous
offers for consideration February 1, the
date set for the opening of the bids Uutu
That date all communications on this sub
Ject will be treated as confidential
Not to he Taken by the People.
Inc alleged purpose of the Secretary of
the Treasury to place the proposed loan of
sSoVV.Vco IN the hands of the people gem
orally is not likely to meet with ,nuch
success, for the reason that the bonds srs
to be sold TO the highest bidders. Iudi-
viduals. no matter how large their canital
cannot hope TO compete successfully i'm n
transaction of this kind against a syndicate
formed of large dealers. Secretary Car
nsle mas given notice that the proposed is
sue OF SD.VpO.UW ; per cent hon As ufil -
disposed of at a premium OF nor lass 49,,
sII..2Nb' which is on the basis of . per cent
interest," Tor period cf ten years A higher
preinlum VIII reduce the interest return
ana VIII make IL AN Investment Of B,-l.
advantage to small dealers Consequently
II tn rs not expected that their subscriptions
Will cut much Iigure
High Oners for the Lot.
III Is said that New York syndicate
represented by Harvey Fisk A. Sons win
subscribe for the entire amount of s,oau.
V~ at sl.1s and that there win he o,har
large offers at the same and at even higher
rates, provided large blocks can be secpraa
small dealers. therefore are moi ure,v
TO receive much consideration unless they
are exceedingly liberal in their terma
Some bidders have offered TO take .arg.
blocks of the loan at sl2D. Subsertpt,on.
already received aggregate over sssle eu-
o~o, at rates above the minimum n-am,,,,n
prescribed by the circular
The Main Factor fu IN. a~.
me rate OF ne lid will De the main fsctvr
i determining It's acceptance and the
oa'e OF the offer will cut NJ figure in the
matter. The entire amount OF the loan.
'heretore' Is liable TO 20 20 one ridder, rro-
Vioed his bid is 'he highest. In the event
that several bids Of the maximum rate ex-
eeeu the total amount Of the Joan it will
be allotted 10 the bidders proportionateiy.
The highest bid will receive the first cs,n-
slderation. LII Ii - for all the bonds the
transaction viii be closet AZ once t,,, M
Tor less than the fun amount tie r.r,slpder
VIII os ahotted 10 ne neNs higher bidderA
until the quota Is exhausted
When Auotments win Ne Mad.
Aiiotments will he made only when IL ~
necessary by reason of -Ae similarity NJ
the bids. Ther afore. IL is possible that TIE
entire loan may oe subscribed by one firm.
or 1t may be divided among two CT more.
Present indications are ;has small dealers
will have little ( any chance II securing
the proposed bonds. except through the
medium of the nanke- or broker who suc-
ceeds i'm getting he lot. In order 10 fully
explain the plan Cor the issue of tIese
bonds the Secretary of the Trsssary has
prepared a circIIar on the subject, which
will probably BE- :naie public On Monday.