The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-11-28

Bids in All Treasury officials
Pleased.
! WASHINGTON. D. c., Nov. 24-The
! bids for the ifty-mnlion-dollar bond issue
recently offered by Secretary Carlisle were
/ opened at the treasury department today
shortly before l o'clock. sAt 4 o'clock it
/ was stated at the department that
! hurried calculation showed that the total
/ number Of separate bids was 297. aggre-
! eating $l543799OO The largest bid was
! the syndicate bid of the United States
! trust company. DreXel, Morgan & Co. and
/ others at SHOOT for the whole amount or
! none. This bid was the best offered. as
/ the aggregate Of bids above this figure
/ was only about s1O.324150, leaving about
/ SS9.675.S50 at a less figure
IL, therefore, seems quite probably that
| the syndicate bid VIII be accepted. al
! though Secretary Carlisle stated that he
/ could not express an opinion as to the
! result until next Monday when the awards
( wi be made. According to the terms Of
/ th,s bid the government VIII pay 2.S7S per
/ cent. interest on the $5O.O00,OO0 as against
I 3 per cent. carried by the February issue.
! There is a possibility. however, that
! c.cse Calculation wi. disclose the fact
that there is a sufficient number Of bids
/ at q better rate than this, which. with the
/ second syndicate bid a 1lC.SS9S. or 2.S99
/ per cent, may make a combination Slight,
y more advantageous to the government
! TIA" the other although this is very i'm
probable
/ Altogether the result Of the bids is emf
/ ncnl,y satisfactory II the treasury Off
( Gals as it shows that not only was there
/ a brisk rivalry for the bonds. but the rate
! Of interest demanded was even lower than
/ was generally expected. At no time dur
! ing the tendency 81 The issue has SecTe-
/ tavy Carlisle doubted that it would all be
eagerly taken and OF satisfactory rates.
Opened the Bids.
In conformity with his circular dated
! Nov. 10. 1894, the secretary OF the treasury
/ today opened what bids had been submitted
! for new bond issue of $50,000.O00 United
! States 8 Per cent. bonds to bear date of
! Nov T. 1895. and reJcemable in coin at
! pleasure Of the government, after ten
| years from the date OF issue. This action
! of the secretary is taken under the author
! ity contained IN the act Of congress ap-
proved Jan. a.. 1879. entitled. AN act to
| provide for the resumption Of specie pay
ments" This issue of bonds is made for
] the stated purpose of replelisning the
/ god reserve. which by Withdrawals for
/ expectations ~ other purposes he's now
| been reduced to less than SS5, 000. 900.
| Nearly all Of the recent Withdrawals. how
| ever, amounting 10 about $4,000, 900, has
I been made presumably for the purpose Of
| purchasing bonds OF the pending issue.
| Under the terms Of the secretarys cir
] cular Of Nov 13. bidders whose proposals
/ are accepted viii be required to pay 20
! per cent. in gold coir or gold certificates
| upon the amounts Of their bids as soon as
they receive 1Otcc or the acceptance of
| such bids. and TO pay 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, 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 accept
| ance of his proposal.
| The denominations Of the bonds viii be
| $50 and upward, and they VIII be dated
J Feb. l. 1894, in order to make the pro-
| posed issue uniform as to date with the
| existing ISSUE but interest thereon viii,
begin Nov. 1. 1894, and bidders will be
! rate of per cent. on the face value of
! their bonds from Nov. / to the date or
! dates of payment
Press Representatives AdIuitted.
Secretary Carlisle. shortly after noon.
| he'd a conference with treasury officials
| for the purpose Of deciding whether the
bond proposals should be opened in public
or private. At 12:45 O'clock large dele
CATION of bankers and representatives Of
| the press assembled in Assistant Secretary
| Curtis's Office 10 hear the bids announced.
In the corridor outside was a large gath
! ering Of correspondents who could not
| owing TO the limited capacity OF the ROOM
| be admitted. Among the bidders present
were Mr. J. PieTTepOnt Morgan Of the
| firm of DreXel, Morgan d Co, bankers of
| New York; Robert Bacon Of +. Rollins
Morse & Co, bankers. Boston; Albert
! Stetheimer broker, New York: T. w
! Reimeick with Kidder Peabody & Co
| bankers. Boston, and Plny Fisk of Har-
vey. Fisk & Co. bankers, New York
] The reading of the bids Closed at 1:5O
| p. m. The aggregate. including both
bids Of Morgan, Drexel & Co, amounted
| 10 about $l55, 0O0,0 600.
The main bid for the bonds was by a
| syndicate of bankers Of New York Lon
] don, Philadelphia and Boston, and was
| for $5O0C0,0OO al 116.SS9S This bid pro-
| vides that $40000000 Of bonds are to be
| delivered in New York SO 900 900 at Ros-
ton. 80, 000, 900 at Philadelphia 81, O00. 900 at
| Chicago and $2,0O0,OO0 at San Francisco.
| The bid is made by the United States
| trust company Of New York, Drexel. Nor
/ gan & Co. New York, First national bank
! Of New York and Harvey, Fisk & Sons.
| They add the information that the fol-
| lowing pdfues are interested with them
| in the joint bid: Drexel & Co., Philadel-
! phia: J. 5. Morgan & CO., London: Ma
| tional bank of commerce, New York;
Chase national bank, New York; Fourth
national bank, New York; National City
/ bank, New York; Hanover national
| bank, New York; First national bank
| Chicago; Mutual life insurance com
pany, New York: Galatin national bank.
| New York; Merchants national bank, New
| York; Manhattan company, New York
| Morton. Bliss & Co. New York: Heidel-
| bach, Eickheimer 81 Co, New York; j. q
| S. Wormser, New York; j. d w. Seligman
| q Co, New York. Blair & Co., New York
j q Na-.. X....I.. q G..,i.l.