Freeland tribune. (Freeland, Pa.) 1888-1921, 1894-02-01
NEWS OF THE WEEK.
Bond Issue.

corinthians were Withdrawn. Everything
appeared all right at first, but the un-
certainty which has arisen concerning the
power of the secretary of the treasury TO
issue such bonds and the discussion IN
congress has caused serious hltch IN
proceedings. twas owing to these thihSs
that the secretary came on here TO meet
the heads OF the ns.ional banks ana the
presidents of the largest trust companies
Yesterday afternoon. The meeting was
behind closed doors at the office OF sub
Treasurer Jordan ia the sub-treasury.
The fate Of the bond issue, it was be
lieved, rested entirely on the result OF the
meeting.
Question after question was put to the
secretary regarding the legality OF the |
uroposed issue the secretary expressing |
the opinion throughout that the course |
he had adopted was in full accordance |
with the law, and he intimated that GER
tain of the New York banks had mani
tested a disposition to depress the value
of the bonds in order that they might be
secured at favorable figure by syndi.
cate He said the bonds would be sold
without any trouble and he appeared in
different as to whether they were disposed
of here or somewhere else.
The conference was of an hour and
halfs duration. The talking was done
almost entirely by Secretary Carlisle, who
defended the legality of the issue of the
bonds and fought to impress upon the
bankers the advantages of offering per
cent. bonds on per cent. basis.
President Frederick d. Tappen, of the
GaIlatin National bank, finally said: MIR
Secretary, it is the opinion of a majority
of the New York bankers that your pro
posed issue of bonds will not be a success.
What will you do if it is not2 How much
do the subscriptions now amount to?"
The secretary replied Il certainly do
not concede that the issue will not be q
success l do not look forward to any
such contingency. AS to the amount o
the subscriptions ! have not changed m
mind with the figures. If the subscriI
tions run up to SO, ,OQ0, 900 intend to SCI
that many bonds"
No promises of su descriptions were mad
by the bankers. The secretary too
luncheon at the Lawyers club with ex
secretary of the treasury Charles 5. Fair
child, and left for Washington at 3:2
o'clock.
Before his departure Secretary Carlisle
took extraordinary precautions to avoiC
giving his impressions of the conference
Neither would any of the others presen
enter into details of what took place, Ill
less with the proviso that they were nC
to be quoted.
One of the bank presidents, who We
seen at his office in the afternoon, said thu
the conference had taken the shape of n
informal talk and that Secretary Ca
Isle had spoken very freely on sewers
points anent the $50 0000,0 900 issue of pc
cent. ten year government bonds. ii
dwelt especially upon the legality of tn
issue insisting that there was not tn
slightest doubt on that point and tha
the courts would so hold. As to the reso
luton introduced in congress with viev
to having the issue declared illegal, h
expressed the opinion that it would fai
OF passage
The secretary was assured by many q
those present." continued this gentleman
that If legality of the issue was shown t
be beyond question there would be II
doubt that the entire amount would b
subscribed for unconditionally and at tn
upset price right here in New York"
The only definite information obtail
able as to the matter of subscriptions
the issue IN this city was that the offer
s4,0O0O0O by the American Exchange bar
would stand.
Poor Governor Campbell
NEW YORK, Jan. Eek Gov. James ]
Campbell, who left the gubernatori,
chair of Ohio in January, 1892 and ha
been residing in this city most of tn
time since, is in Strengthened fnancia
circumstances and is unable to meet
judgment which has been pending
against him for some months.
After being swosn before Judge Bal
rett of the supreme court he was exam
f,,. -1,.,,, -
his ability to pay the Judgment.
The Judgment was secured last July /
the First National bank of Chicago ft
5000 and was based on a promisso
note for that sum which he gave, and
was iudorsed by f. ]. O'Conneil, of Col
grove, Ohio, who had it discounted
the First National bank of Chicago.
The bank has been unable to collect Il
amount of the note, which was given
payment of stock of the Ohio Mini
company. Since the Judgment was s
cured in July last 81 900 has been pa
upon it. Lawyers C.. II. Strong and G. !
Moses, who tried to collect the judgmen
for the bank, secured an order from th
court for the examination of the eX-go
ernor on Jan 13 last, but he failed to a
pear then as he was in Washington a
tending to some important business.
His default was taken then, aad Il
next step would have been to have hi
punished for contempt, but instead
taking that proceeding the lawyers at ii
request of the ex-governor, consented
the opening of the default, and gave hil
an opportunity to answer, and he was e.
amined.
Mr. Campbell testified that for % yea1
he resided in Hamilton, o. He came t
this city after he loft the gubernatoria
chair, and has since been Winding II
business which he had on hand while a
Ohio statesman. He resided with h.
wife, two sons and two daughters {
Madison avenue.
He also testified that it was utterly ii
possible for him to pay the amount Of t
judgment because of his poor iinanc
condition. He declared that on accou
of his straitened circumstances he hi
been compelled to take his eldest son fro
college and have him enter into busln,
relations with himself He asserted tn
this was the only judgment standi
against him.
1t is his determination to return to
old home in Ohio about May next and I