The daily morning journal and courier., 1895-12-26
A BOND DEAL IS AT HAND
HEAD OFOLD ROND SYNDICATE IND COUNSEL B0TH IN U.tSHING TON.
Sii i,000,00O Scheme While Another Bond Issue Seems Imperative, Public Opinion Demands Popular Que.

Fl'A'-'N Af' i'AfillE a iOnhlNf unGs
 New York, Dee, 25.~-Wiu the old bond syndicate be favored In the distribution of the new issue, which 1t is universal. iy believed will be authorized by Pres ldent Cleveland within the next few days?
 This is the question which is now ag- itaJing financial circles, and which is being discussed with absorbing interest in every money center of the Union,
 Ever since the first disturbance in tha financial market was brought about by the presidents warlike message to congress the talk of the proposed bond issue to relieve the pressure on the treasury which followed heavy with drawals of gold, has been growing more and more impatient, until at the pres ent time it is generally conceded by the leading banking authorities that such an issue is inevitable, and must be l forthcoming if the national finances are to be placed upon a firm and solid basis and the vast commercial interests of the country conserved.
 LAST EXPERIENCE TO BE RE
 PEATED?
 l The general opinion has been that such bond issue should be of popular 1 character and should not be confided to the care of any syndicate of powerful tinanciers, who would be able to make vast profits out of the manipulation and sale of the bonds.
 The experience of this country in con- nsction with the last issue of govern ment bonds is too fresh in the minds of the public to bear the repetition of such deal.
 Yet rumors have been floating about within the past two days which point very suspiciously towards the consum- nation of such 8 scheme. They were started by the sudden appearance in Washington day before yesterday of J. Pierpont Morgan, the practical head of the Belmont -MOrganR Rothschild syn dicate, and by the report that he had been engaged in secret conferences with members of the cabinet, especially with MT. Carlisle who is now supposed to be busily preparing the order fo" the new bond call,
 l MORGAN AND COUNSEL IN WASH
 INGTON.
 With him is his private counsel. Fran cis Lynde Stetson of this city, and the presence of these two gentlemen at the . mn nj al at h. and Ostensibly for the same purpose. has given rise to all sorts of rumors as to the outcome of the bond question.
 When it is remembered that MT. Stet- son was at one time the law partner of President Cleveland and is one of his most intimate friends and advisers, the stories told by the gossipers that a new bond deal is going on, and that it bids fair to be one in which the great mass of small investors will have very little to say about the distribution of securities, become more definite and plausible,
 MANY WILLING TO INVEST
 One indication of the feeling of in yestors throughout the country over the prospective bond issue is shown by the statements made yesterday by a prom inent bank president, to the effect that a number of banks in this city had re- ccived applications from their country correspondents for an interest in any organization that might be formed for securing an interest in the new bond | issue.
 It is asserted that three banks in this city alone have received applications for more than $60OO,OOO of the bonds, and that before anything definite has been decided by the Washington off cials as to such an issue
 This is regarded as the most conclu- sive evidence of the feeling through out the country in regard to a new issue of bonds, and indicates how readily the securities would be taken up by banks and institutions and by private individ- uals everywhere
 WHY THIS SURPRISING ACTIVITY
 In every case where these applications Were received it is stated that the pros pectiVe purchasers had gold in hand to pay for the bonds that might be allotted | to them.
 STETSON TO FORMULATE THIS
 PLAN?
 Whether Mr. StetsOn, the president $ former law partner, has yet prepared in legal form the announcement of another bond issue, as the Washington dispatch states, has not been ascartaincd, bu; it is asserted with great confidence that he went to the national capita. for that purpose, and that his energy in behalf Of the syndicate would save President Cleveland and Secretary Carlisle a great amount of trouble. It is said, too that when he accompanied Mr. Morgan to Washington they were backed ul with a subscription list which cover ed an issue of at least $5o,0o0o0O.
 A TEMPTING BAIT.
 This, it is understood, vas to be offer. cd as @ tempting Daic to the administra- ton. and it was rendered all the more attractive by the assurance that every name represented American holders of gold. and that not a dollar of it would go out of the country.
 |, Ii is tine opinion of most of the bank CTS Of Wall street that the discussion of the issue of bonds by congress will consume too long a time. They are needed at once. and the president l .,.,1.- yl;u1,+