The times. [volume] (Richmond, Va.) 1890-1903, 1894-11-13
THE BOND ISSUE RUMORS
IN SPITE or DENIALS THEY AkE
GAINING oREDENCE.
The Gold Reserve 10 Nesf e4,0oo.ooo Loss
Now Than IL Was In February Las''
TIE Public Debt.

WASHlNGlON, ~. u, No'' - HI 80
absence of President Cleveland, Secretary
Carlisle and other members OIL the Cao-
met i'm Philadelphia, to-day there Is
dearth of news in the Treasury Depart
ment about the alleged contemplated
bond issue There Is, however, much Eos-
sip, which, in the absence Of positive IN
formation, is being passed around. NO
Treasury official to-day is willing TO be
quoted as to prospective bond issue.
The truth of the matter is that they
know no more about it than the general
public. None of the mechanical prepara-
tions for a bond issue are being maae
in the bureaus where such preparations
would originate.
THE REFoRT GAMING cREDENCF.
Nevertheless, By constant repetition,
the statement Is gaining Deiet that .he
President may have taken the matter
in his own hands, without cOnsultlhs
any one In the Treasury, ana may nave
informed some one I'm New YORK thdt
a bond issue IS inevitable III the presenl
condition of the Treasury. Al the pres
ent time the net balance IN the treas
ury is S2O,O000O0 greater than II was III
February last. The gold reserve ls heal-
ly 100000 less now than on feDrudt!
lst The absence OF Assistant SeCretaty
Curtis I'm New York, at this time, IN the
oninion Of Treasury officials, lends color
to the positive New York statements INA.
a bond issue will be made shorty. ~ ~
the same time, the matter, as Iar aS
the Treasury officials so, Is one cl IN
| fcnence and not Of knowledge. They say
that II bonds are 10 be Issued any lIlhc
| within the next two or three months, .N now
! is the time, as when Congress cOhHehes
a resolution, of which there are noW
several on the calendar. might be called
| up and passed inhiDitlhg the oeCIe'SntS
of the Treasury from such STEP ~ ~
| doubt seems TO be entertained OF TINS
| purpose on the part OF Congress ne
I following statement, published tn Ne"
| York on Saturday. has attracted "iue-
Yesterday Mr.. Stewart and one or two
| of his assistants, bank presidents re-
/ c.iyed a copy CT the proposed circular
and last night the draft was returned 10
| Washington with their approval
THE PuBtrc DkBF
This is emphatically denied at the
Treasury. but from the same SouISSS,S CS,
| denials are made of a bond issue at an.
! Figures obtained at the treasury giving
| the nublic debt Of the United states, are ar
interesting at this time, in view ol..l, Oh ene
supposed possibility of turtheC hSlS%1. Ed'a,,-
ing fhe debt by a bond Issue. on Fepi u,
| orv / 1891. the public debt of the Unlteu
states stood $965,li2,V0. Less cash IN tne
Treasury. sS4,Oi20OO. In the March STATE
| ment the proceeds OF the new D1lu
|
e. oiS aqsS 600 ess cash in Treasury
SiS3 9s0 0d0 or. in other words, the pup
iic debt Of the United States, less easn
i'm the Treasury, has increased li9u liSat
February lst, 1891, to November J. i'''
$Sl ,Uu0,VUO.
FIFTY MILLION OF FIVE PER CENI' BONDS
NEw YORK, Nov. l2.-AccordinS t'
.,rcd outboritv the Government loan VIII
| 6e issued as soon as the detalls are PEI
fected, and the circulars are prih'sSrIh. 81
probably on "Wednesday WOrhins. nj
| tseno will be $O,WOOW OF PCT Scu'
ienJ redeemable i'm ten years, ana III
inset urice will be fixed by the ,foNSl = =
ment. Assurances nave been IScelNeu - ~
! the leaders in the movement Which va w
rants the assertion that the issue WI
| - io,yel, over-subscribed and bids VII
[ no on a trhe better basis thaH . Pe
cent The banks late to-day reiuSeu y
make time loans on the rates Wnlch nay
been prevailing, as II Is expected tIlal ~
main norton Of the $5S,VO,OW gold pal
| for the bonds will be witdrawn iron
the New York banks and trust co'npa
nies. This will raise the rates OF ihtS, t
est, and tn anticipation OF ms res IN VI,
banks and trust companies dechhe 10 loa
| money until the effect upon interest Iatc
| can he fully calculated. All banker
concur in the opinion that the wlthurdWss "a
of nearly S6).0ONOO OF money lIoil se "
general circulation will have more enc,
than in last January. as there ~ petee y,
demand for money at present, ana III
imDroying prospects Of business indicate
still greater demand when the nlahula'
turing for the spring business begins
TIE BANKS WILL FURNISH TIE Gold
NEW YORK, Nov. 12.-Five president
of National banks, who are REGARDED a
the leaders OF the bank presidents 4
New York city, met in the Office o
Henry w. Cannon, president or the Cnas
National Bank, to-day. They were. MI
Cannon. presidents Nash, or the Cor
Exchonge National Bank: Tappen. Of tn
Galletln; Simmons, OF the fcuTth Natlon
al. and Williams. OF the Chemlcal Ma
tional Bank These gentlemen had al
tended a meeting or the Dullui's tn, eoiiit,l' ~
| tee of the Clearing House ASsociau0
and gathered in the offices or me Chas
| National Bank TO discuss the lmpendih
20 Government loan. The consensus OF 0Pln
4 ion was that the bankers OF New q ~
| Would give up large amounts OF gold 10
I ! the purchase of the new issue or Gov
ernment bonds Ii is expected that inve'
: ! tors wffi subscribe largely TOT the ne
, | bonds and the banks VIII futhlsh 10 j.
[ | pOsitors freely the Soiu HV00S9"i'
I | take the BONDS.
, HOLD THE BULK OF THE GOLD.
mi. aocislon is OF importance, as III
q | hanks represented at this informal cor
! Serence with the Union Trust ana Unite
states and Central Trust coMPaLleS; no no
! the bulk Of the gold in New YORK. frss
| dents King Stewart and Olcott, OF W
net companies mentioned have alread
r extended TO the Administrative their a.
E surance that the new issue VIII be. De tax Isa
care OF. When the fe9ruaTiE issN 80 tatjn
/. 1au tbe gold from banks. and many only s.
cured STT de- legal tenders which were presente
at the sub-treasury TO s Obtain L, the ssen, s9''
The Government thus taedo ,-e 900 20 d2o sscGi ,ti
oysr s3S OO0 90 gold for the Soo,wOOOJ nette
F.. Hv the sale OF $4,000 900 bonds.
" the ne decision OF the bankers to give =,
. their gold freely will consequentley yos,, ~
large amount of golaa sa osa a. ,aDd tae IesS ,esu
e 1,h o. ne nr,onnt on IL is estimated. will be oy
go 1'e 400 600. II is understood in New & noi
4 tbst the new issue will be issued win
q fnrtv-eight sr hours. II the circulars al
snbscription blanks can De prepared