The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-11-25
BIDS FOR BONDS.
Uncle Sans Credit is
Good.
SOME EXCELLENT OFFERS
Made by Capitalists at Home
and Abroad.
WALL STREET WANTS 1T ALL.
The Syndicate Puts In Bid for
the Entire Loan or
Nothing.

WASHINGTON, Nov. 24.-The BIDS for
the S50,000,O00 issue recently offered by
Secretary Carlisle were opened at the
Treasury Department to-day shortly be-
fore l o'clock. At 4 O'Clock it was stated
at the department that hurried calcutta
ton showed that the total number of
separate bids was 297. aggregatlDg $154.-
1900. The largest bid was the syndicate
bid of the United States Trust Company,
Drexe, Morgan & Co.. and others at
S117077 for the whole amount or none,
This was the best bid offered, as the ag-
gregate of bids above this figure was
about $40, 324, $50, leaving about $50, Cts, $50
at less figure. 1t therefore seems quite
probable that the syndicate bid will be
accepted, although Secretary Carlisle
stated that he could not express an opin-
ion as to the result until next Monday.
when the awards will be made.
According to the terms of this bid the
Government will ray 2S78 per cent utter
est on the $50, Zoo, 600. as against per cent
carried by the first issue. There is pos
sibllity. however, that a close calculation
will disclose the fact that there is a suffi-
Gent number of bids at better rate than
this, which, with the second syndicate bid
at 116 SS9S, or 2S99 per cent, may make
a combination slightly more advantageous
20 the Government than the other, al
though this is very improbable. Alto
gether, the result of the bids is eminently
satisfactory TO the treasury officials, as it
shows that not only was there a brisk
rivalry for the bonds, but the rate of in
terest demanded was even lower than was
generally expected.
In conformity with his circular dated
November -, 1894, the Secretary OF the
Treasury opened the bids submitted
for new bond issue of $4,000, 600 United
States per cent bonds TO bear the date of
November 1, 1894. and redeemable In cola
at the pleasure of the Government after
ten years from the date of issue. This ac-
ton of the Secretary is taken under the
authority contained in the act OF Congress
approved January IA, 1875, entitled IAN
act TO provide for the resumption of specie
payments" This issue of bonds is made
fer the stated purpose OF replenishing the
gold reserve which by Withdrawals for ex-
portations and other purposes has now
been reduced to less than SIS. 900. 600.
Nearly all of the recent Withdrawals, how
ever, amounting to about $50, 900. 600, have
been made presumably for the purpose of
purchasing bonds of the pending issue.
Under the terms Of the SecretaEy's cir
cular of November Is bidders whose pro-
posals are accepted will pc 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 paw in like coin or GER
tificateS an additional 20 per cent at the
expiration of each ten days thereafter
until the whole is paid; but they may at
their option paw the entire amount Of their
BIDS when notified of acceptance, or at any
time when an installment is payable. The
first payment, however. of not less than
20 per cent, must be made when the bidder
receives notice of the aceep ance of his
proposal. The denominations of bonds
will be $50 and upward. ana they will be
dated February 1, 1894, in order to make
the proposed issue uniform as to date with
the existing issue. but interest thereon
will begin November l. 1894. and bidders
will be required to pay accrued interest at
the Fate Of five per cent on the face value
from November to the date or dates of
payment.
1t was decided to admit representatives
of the press associations to the opening of
the bids. The following are the names of
the largest bidders as announced. he
amount of their bids and the price per 800:
Mechanics Savings Bank, Rochester, n. Y,
$4,000 at 116.
Henry Stephens, Detroit Mich. 500, 900 at
100.
Dollar Savings Bank. PittsDurg, $780, 900 at
1876.
+. B. Armstrong, president American Union
Lie insurance Company, New York, 5000, 600
a: S116.06.
Whitaker g. Hogman, ST. Louis. $1,000 at 2
per cent.
Maryland Trus Company. Baltimore. Nd,
| 100000 at 1869
First National Bank, st. Joseph, NO.. $1,000
at 1T.
Third National Bank, Cincinnati, Ohio,
| $4,000 at S115.51.
James TaIcott. New York. $50. 900 at lit,
| S15o.0OO 1869, 100000 at 116.081.
| Schaefer Brothers, New YorR, 100000 at
! 1864.
+. S. smthers & Co., New York, 100000 al
| 1864.
Continental Bank, New York, 500, 900 at
| 1161O3; 100000. at 1926; 100000 al
| 116.525: $4,000 at 116.103; $4,000 al
| 117.2125.
! August Belmont Co., New YORK, 100000
| 1850.
| Importers and Traders National Bank, New
York, SO, 900, 900 at 116.o0S1.
Henry Tessuer, Dayton, Ohio, $1,000 al
| 117.25.
Secretary Trust and Safe Deposit Company
| Wilmington, Del, $500, 900 at 116.103.
Wisconsin N ational Bank, Milwaukee, Wis.
! S110,0 at 117.2125.
Bank OF Mansfield OHIO, $4,000 at 1923.
| Brown Bros, Newt York, 100000. at 1915
| Brown. Shipley g. Co., London, 81, 100000
! at 11525.
Continental Bank OF Chicago, 100000. al
| 116 90: 100000, at 116; $4,000, at II sos
l.. w. Morrison, New York, 100000, al
1862.
The Wisconsin National Bank, Milwaukee
! $4,000. at III.
! First National Bank of Grafton. W. Va.
| S115.0 al 1900.
| First National Bank OF Springfield, Ohio
800, 600. at 1910.
] The Nassau Bank OF New York, $780, 900, a
116.1O; 100000. at 116.l6; 100000. a
| 1925; 100. 900, at 1866.
| McKeen q Co., Terre Haute, Ind, $500
116.008.