The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-02-01
S|OO,0OO,OOO GOLD BONDS
Probable Issue of a Per Cents
to This Amount.
CONFERENCE WITH BANKERS
+ oreign Houses VIII Subscribe lf
There Is Full Assurance They
Will Be Paid in Gold. Help
From Abroad. Home
Subscription Asked
by Southern Associatoi Press.

New YORK, January 31.-Assist-
ant Secretary Curtis was at the sub
Treasury this morning and had
lengthy conference with the repro.
aentatives of large foreign houses.
George +. Crane, of Barring, Magoun
n Co., was the first to arrive.
Among the other foreign bankers
present were |. Wormser, of Worm.
ser. of Wormser q Co. Il. Thalmau,
OF Ladenburg, Thalman Il Co.;
representative of August Belmont *
Co., and MIR. Speyer, of Speyer a.
Go. 1t WIS considered significant
that oil the visitors were connected
with foreign houses. In the alter.
noon j. Plerpont Morgan, Isaac n.
Seligman, of |. IL w. Seligmnn, and
Eugene Meyer, of Lazard Freres,
were also in consultation with
Nlessrs. Curtis and Jordan. 1t Is
understood that the result of tho
conference was as follows:
a call Tor subscriptions to $780,
coo, 600 ! per cent. bonds Will be
issued. The syndicate of foreign
houses Will take whatever bonds the
public do not subscribe for on a
basis of - per cent. The foreign
bankers were willing to take tho
bonds ut once, but the Government
wished to give the public an oppor-
tunty OF securing whatever bonds
are desired here. Gold will ne
brought from abroad to pay for the
bonds taken by the foreign syndi-
cate.
MIR. Belmont, it is understood.
offered TO take 500, 900, 600 As for
the Rothschilds on a 81 por cent.
bnsis. The banker also offered to
deposit so, 600, 900 of gold in tho
Treasury ut once if it could be
legally arranged that Treasury re-
ceipts should be Immediately con
vertible INTO bonds when delivern
bic. These propositions will be laid
before q Cabinet meeting to morrow
aud, II deemed satisfactory, call
for 500, ZOO, 900 of Is is expected us
soon. as the Cabinet adjourus. The
call, 1t is believed, will certainly not
como later than Saturday.
.Ihe opinion IN Wall street is that
the administration will err TO issue
a general call for subscriptions if
bonds can be sold abroad by Il def
mite agreement. The gold deposited
for bonds taken in this country will
be speedily withdrawn again as III
the case in the last loan. Only the
sale Of so, U00.0J0 to $50. 900, 600
abroad would eilectually put O stop
TO the gold drain by checking the
gold exports aud restoring conf
dence among the foreign investors
who are pouring their securities
INTO TINS country.
The i per cent. bond, which it is
proposed To issue, would mature in
1903 and on ,! per cent. basis
would net 100. O3 10 the Government
on 81 basis 1906. Tho 81 per
cents would leave wide margin for
a possible profit, but the foreign
houses would have 10 face the pos.
sibllity of reluctant Investing pub
Tic and wish to provide against the
possible contingency that Il large
portion Of the bonds might have to
be carried for a long period before
becoming absorbed by the foreign
houses,
LoNDoN. January 31.-A London
financial firm OF high reputo re
celved yesterday from New York
house m inquiry whether 1t would
DO possible to place here a large
number of four or five per cent
United States bonds, The reply
was that such bonds would not be
taken unless containing n clearly
defined guarantee of payment in
gold.