St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-06-26
GOLD BOND SYNDICATE SAID To
HAVE PAID FOR THE FULL
ISSUE.
RUMoRs OF MORE BONDS.
EQUALLY UNRELIABLE REPORTA
OF A MODIFICATION OF THE
CONTRACT.
RESERVE OVER s1o,,ooo,o 900,
Members of the Syndicate to Re.
ceive Their 60 Per Cent Adj
vance at Once.

NEW YORK, June 25.-Wall street Is
full of rumors as to the bond syndicate
operations and the treasury depart
ment. Neither Mr.. Morgan nor Mr..
Belmont will talk on the subject, and
Sub-Treasurer Jordan will make no
statement in connection with the mat
ter beyond the fact that the gold sur
plus reserve of the treasury will, with
in twenty-four hours, with the gold
now deposited, be $107, ,450, COO. 1t is
understood that this sum is reached
by the settlement of the bond syndi-
Gates Indebtedness to the government
as regards the payment for the bonds.
1t is further believed that the bond
syndicate either has, or will at once re-
ceive the full amount of bonds due it.
There is some vague talk about an ar
rangement for a further issue of bonds
by the government, but there is no
suggestion of such a course from any
authoritative quarter.
The payment into the subtreasury
yesterday of S6.5O0.0O0 is, according to
the Evening Post, believed to be proof
that the government has agreed TO
modification or change in the contract
with the syndicate so far as requiring
the syndicate to import $32.500.000 Of
admit that their contract does not ex-
pire until October, and that they are
required to do all in their power In
the meantime to maintain the govern
ment's gold reserve. they may yet
have to import gold unless they con-
tinue to prevent its expectation. OF
their ability to do that until Oct. l no
one seems to have any doubt, least of
all the syndicate managers. The
Evening Post continues:
MASTERS OF THE MARKET.
THUS far the syndicate has import
ed, on account of the new per cent
bonds, S14, 451, 900; 1t has 500, 900 of inn
ported gold in the assay office to it's
credit, and has deposited in the treas
ury altogether more than S66, 100000 OF
gold. That the managers of the syndi-
cate are masters of the sterling ex-
change market, and thus able to MAIN
tain the governments gold, was said
by bankers today to be shown by the
| fact that they have notified the menu
bers of their syndicate of their inten-
ton to return to them this week the
balance of 60 per cent of the money
they advanced in gold for the syndi-
cate to deposit in the subtreasury last
February, TO purchase half the bonds
sold in this country. This 60 per cent
will amount to many millions of dol
lars, and when they get IL the bank
ers, members of the syndicate, say
they will not know what to do with II,
as there is such a plethora of money
that 1t is almost unlendable, except
on call at Improbable rates. An indi-
cation of the change in sentiment In
relation to the gold question was seen
today at the subtreasury, when de-
posits of gold were offered in exchange
for greenbacks of large denomina-
tion."
OFFICIALS UNIFORMED.
WASHINGTON June 2.-Treasury
officials have no information of the
reported purpose of the syndicate to
deposit tomorrow the entire amount
of foreign gold due under the con-
tract. They say, however, that they
would not be surprised If this was
done, as the contract permits them to
deposit any amount in excess of 300,-
600 ounces per month whenever they
may see fit. Up to this time the off,
cials have no criticisms to make of
the course pursued by the syndicate
for, so far as they know, every obli-
RdIlOu TIC COnlIdcl HdS
been complied with. AS to the rumor
in New York that the government has
permitted a modification of the con-
tract, allowing the syndicate to de-
posit more than half of the whole
amount in domestic gold, Assistant
Secretary Hamlin said: There has
been no modification of the contract.
The provision that one-half of the
gold to the amount of the loan shall
be brought from abroad is to be car
ried out. Some of the importations of
foreign gold were made in advance of
the time stipulated in the contract,
but this did not involve any modifica-
ton of the contract"
Mr.. Hamlin. however. in the absence
of Secretary Carlisle, declined to enter
further into a discussion of the mat
ter.