Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-03-02


'The accusation is that tho s6g 100000
/ bonds sold by the government dc other
| day have advanced suddenly nom the
! price the government received
THE accusation Is nothing OF the
kind. II Is not true that the bonds
! have advanced, suddenly or otherwise
As the World pointed out at the una
they were worth l19 when the president
secretly sold them 10 his old client
through his old law partner FOR lOi l-2.
The old fours are now selling IN the
open market at 10 and III. This made
the new fours worth about lla. The
new bonds arc identical with the old
except that they have longer to run,
fact which adds a definite market
| value.
Bankers nre now eagerly bidding llg
| for them They are not getting any OF
| them even at that price. They are
worth 1lg, and they were worth II when
they were sold at 10t L. The nceuBA-
| lion 10 not that they have advanced
suddenly to the profit Of the syndicate.
| hut that they were secretly sold 10 the
syndicate for very much less than they
| were worth.
"This fact was apparent at the time,
as the World showed II Is confirmed
by the present eaEerness Of foreign and
home investors to buy twenty times the
amount OF the issue ut higher price,
and by the refusal OF the syndicate
people to sell even at lis
at may be brutal to call attention
to facts OF this kind. but, II SO, the bru-
taiity lies in the truth"
a special telegram from washington
TO the Cincinnati Enquirer says:
Time does not soften the general
harsh opinion Of tho secret contract
under which SCI 600, 900 OF United states
bonds were sold. On the contrary. in
alienation hng FhanFgA Ia a pf
outrage, and many do not hesitate to
denOunce the whole transaction as
scnndalous. Party lines are not drawn,
and nearly all men in this part Of the
country freely discuss the bond enter
prise as one IN which the government
and the people were 'bunkoed' only
few newspapers. and they Of the ultra
administration, mugwump description.
make attempts 20 apologize for the ac-
ton of the administration. The New
York World OF yesterday handled the
subject with bare hands. II conspicu-
ously printed the pictures OF j. Pierpont
Morgan and others who are parties to
the extraordinary deal. including Pre9i-
dent Cleveland. for the purpose
OF holding them up 10 the
public eNecratlon. II denounced
the bond negotiation as inlam-
Gus and the government officials as In
competent. II declared that the presi-
don't was in a position TO know, by in
qHlry or honest, respeetnble men, just
Wnut uhi,eu 9,ates puhu OF tue sort
ne Pr9ppssu TO issue was worm uere
anu aurohu' anu iunt II WIS hlS sworn
uu'y 10 get sueh information
1.-THE bitterest words about the bar
gain provoke no defense anywhere, Use
Cept with u fcw admni8tratoulsts ln
congress, The subject is diacussed
everywhere In WashinEton--in the h0-
tells, at receptions, at the thc1tcr, The
mlldcst comment Is that the govern
ment made an extremely bad bargain,
but few people find any gentler word
than bunko to express their feelings
The syndicate took the bonds from
the government NJ l0i 20. When the
bidding Of the iobbers opened the whole
American share was bid Tor over and
over In twenty-five minutes, nt li6 tp
u.s. and London bid for 5000 OOO,OOO at
no - Two or three sets OF men got
rich out Of the deal The iobhcra have
their rakc-on when they sell tu he
public. Carefully figured out yesterday,
il WIS shown that the government had
been euchred out Of about S9,0OOuO1 by
The secret bargain. A present OF that
much money has been made to the
bond 'sharps,' and the tendency OF the