Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-02-01
THE BOND NATTER.
A CALL FOR SUBSCRIPTIONS TO
s1oo,ooo,o 900 FOUR PER CENTS.
II Will he Issued, Probably To-Day,
Certainly Not Later Than To-Mor-
row, II Is BeIieved-Oners from
Abroad-waIi-stre Opinion.

NEW YORK, January 3.-Assistant-
Secretary Curtis was at the Sub-Trea-
sury this morning. and had a lengthy
conference with representatives OF the
large foreign houses. George F. Crane,
OF Barring, Magoun & Co., was the nrst
TO arrive. Among the other foreign bank
ers present were /. Wormser, OF Worm
ser & Co.; f. Thalman, Of Ladenburg,
Thalman e. Co.; a representative OF Au-
gust Belmont e. Co., and Mr.. Spsyer. OF
Speyer & Co. 1t was considered signifi-
cant that all the visitors were connected
with foreign houses.
In the afternoon J. Plerpont Morgan,
Isaac n. Seligman, of /. & w. Seligman,
and Eugene Meyer. of Lazard Freres,
were also in consultation with Messrs
Curtis and Jordan.
II is understood that the result OF the
conference Is as follows:
A call for subscriptions to SlOO0oo.o0o
per cent. bonds will be Issued; The
syndicate OF foreign houses Will take
whatever bonds the public do not SUB
scribe for on basis OF *? per cent
The foreign bankers were wiillng 10 take
the bonds at once, but the government
wished TO give the public an opportunity
OF securing whatever bonds are desheu
here. Gold will be brought from abroad
to pay for the bonds taken by the for
elgn syndicate.
OFFER FROM ROTHsCHILDs.
Mr. Belmont, II Is understood, offered
to take 100000 as for the Rothschllds
on a 3ia per cent. basis. The bankers
also offered to deposit SO,VOOo or goa
In the Treasury at once If II could De
legally arranged that the Treasury re-
ceipts should be Immediately convertible
into bonds when deliverable. These pro-
positions will be laid before n Cabinet
meeting tomorrow, and II deemed sats-
factory call for slO0.000.00 As is ex-
pected as soon as the Cabinet adjourns.
The call, 1t is believed. will certainly not
come later than Saturday.
The opinion in Well street ls that the
administration will err In issuing a gene
raj call for subscriptions II the bonds
can be sold abroad by a definite agree
ment. The gold deposited for bonds
taken In this country will be speedily
Withdrawn again. as In the case OF the
last loan. only the sale of 10000 900 or
$40. .0000O0 abroad would effectually put
stop the gold drain, by checking gold
exports. and restoring confidence amons
the foreign Investors, who are pouring
their securities into this country.
THE PROPOSED BOND.
The per cent. bond which IT Is pro-
posed 10 issue would mature In 1909, and
on 3iR per cent. basis would net 1857
10 the government; on 3li basis. 1915.
The Sl2 per cent. basis would leave
wide margin for possible profit. but the
foreign houses would have 10 face the
possibility of n reluctant investing pub
lie and the wish to provide against the
possible contingency that a large pOr-
ton OF the bonds might have TO be car
ried for long period before becoming
absorbed by the foreign public.
GOLD GUARANTEE DEMANDED.
LONDON, January 3l.-A London inan-
cial firm of high repute received yester-
day from a New York house an inquiry
whether II would be possible to place
here large number OF 4 or per cent.
United States bonds. The reply was that
such bonds would not be taken unless
containing a clearly-defined guarantee OF
payment In gold.