The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-11-25
BIDS FOR BONDS.
There Was No Lack of People Who
Were Anxious to Purchase
Names of the Bidders and Prices
offered.

Washington, Nov 24.-The bids for
the $4,000, 900 bond issue recently Of
fered by Secretary Carlisle, were open
ed at the treasury department today,
shortly before L o'clock. At o'clock
it was stated at the department that
a hurried calculation showed that the
! total number of separate bids was 297,
aggregating $154 $40 800. The largest
bid was the syndicate bid of the Uni
ted States Trust company, DreXel,
Morgan & Co., and others at S177.077
for the whole amount, or none. This
was the best bid offered, as the aggre-
gate of bids above this figure were
about s1O,324.150, leaving about $685.
675,850 at less figure. 1t, therefore,
seems quite probable that the syndi-
cate bid will be accepted, although
Secretary Carlisle stated that he could
not express an opinion as to the result
until next Monday, when the awards
will be made. According to the terms
of this bid, the government will pay
2.S73 per cent. interest on the 0,000,00
as against 3 per cent. carried by the
first issue. There is a possibility, how
ever, that a close calculation will dis
number of bids at a better rate than
this, which, with the second syndicate
bid at 116.SS9S or 1889 per cent, may
make a combination slightly more adj
vantageouS to the government than
the other, although this is very i'm
probable.
Altogether, the result of the bids is
eminently satisfactory to the treasury
officials, as it shows that not only was
there brisk rivalry for the bonds,
but the rate of interest demanded was
even lower than was generally ex-
pected.
Washington, NOV. 24-In conformity
with his circular dated Nov. 13, 1891, the
secretary of the treasury today opened
the bids which had been submitted for a
new bond issue of $50, 600 United States
5 per cent. bonds to bear date of Nov. /,
1894, and redeemable in coin at the pleas
IRE of the government after ten years
from the date of issue. This action of the
secretary is taken under the authority
contained in the act of Congress approved
January IA, 1875, entitled AN Act to Pro
vide for the Resumption of Specie Pay
ments.''
This issue Of bonds is made for the
stated purpose OF replenishing the gold
reserve, which. by Withdrawals for ex-
portations and other purposes, have now
been reduced to less than S5S, 100000. Near
~ all of the recent Withdrawals, however,
amounting to about $5,0O0O00, have been
made presumably for the purpose of pur-
chasing bonds Of the pending issue. I'm
der the terms of the secretary's circular
of Nov. Is, bidders whose proposals are
accepted will be required to pay 20 per
cent. in gold coin, or gold certificates, on
the amounts of their bids as soon as they
receive notice of the acceptance of such
bids and to pay in like coin or certif-
Gates an additional 20 per cent. at the
expiration of each ten days thereafter I'M
til the whole is paid; but they may. at
their option, pay the entire amount of
their bids when notified of acceptance, or
at any time when an installment is pay
able. The first payment, however, OF
not less than 20 per cent, must be made
when the bidder receives notice of the ac-
| ceptance of his proposal.
| The denominations OF the bonds will be