The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-02-01
BONDS TO BE SOLD ABROAD.
A CALL ron SUBSCRIPTIONS To
100000 600 PROBABLE.

The Call Expected to lie Made Not
Later Than TO-mOrrOw-August
BeImont Ready 10 Take 5,OO0,OOO
ON Three and One-HRIf Per
Cent. BasIs for the RothschiIdss
Foreign Buyers VIII Only Take
Bonds Made Payable i'm Gold.
New York. Jan Sl.-Assistant Secretary
Curtis was at the sub-treasury this morn-
ing and had a lengthy conference with
the representatives OF large foreign
houses. George i. Crane OF Barring, Ma
goun & Co.. was the hrst to arrive Among
the other foreign bankers who dropped I'm
were 1. Wormser. OF w3rmser q Co; E-
Thalmann. OF Iadenburg, Thalman & Goa
a representative OF August Belmont & Cos
and Mr.. speyer Of Speyer & Co. 1t was
considered significant that all the visitors
were connected with foreign houses.
In the afternoon, J. Pierpont Morgan.
Isaac n. sellgman, OF I. & w. seligman.
and Eugene Meyer, of Lazard Freres were
also In consultation with Messrs. Curtis
and Jordan It is understood that the re-
suit OF the conference Is as follows: AZ
call for subscriptions of 800. 900 per
cent. bonds VIII be issued The syndicate
Of foreign houses viii take whatever bonds
the public do not subscribe for on a basis
of 3tb per cent The foreign bankers We're
willing to take the bonds at once, but the
government wished 10 give the public am
opportunity OF securing whatever bonds
are desired here. Gold Will be broughe
from abroad to pay for the bonds taken BY
the foreign syndicate.
MIR. Belmont, It Is understood, offered
20 take $50. 600 900 As for the Rothschilds
on a 3ia per cent basis. The bankers also
offered to deposit $50,OOO00o OF gold in the
treasury at once II IL could be legally
arranged that the treasury receipts should
be at once convertible into bonds when
dellverable These propositions viii be-
laid before a cabinet meeting Tomorrow
and if deemed satisfactory call for
100.00OO00 4s Is expected as soon as tha
cabinet adiourns. The call, 1t is believeds
will certainly not come later than SAT-
urday.
The opinion IN Wall street Is that the
administration will err to issue a general
call for subscriptions II bonds can be sold
abroad by a definite agreement. 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country Will be speedily withdrawn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 $5O,000000 70 H5,OO0.oo0
abroad would effectually put stop TO the
gold drain by checking the gold exports
and restoring confidence among the for
eign investors, who are pouring their se-
curities into tnls country. The per cent
bond which Il Is proposed TO issue would
mature in iga0, and, on a ah per cent.
basis would mt 105.02 to the government
and on a 3h basis, 1876. The 3i5 per cent.
basis would leave a wide margin for
possible profit, but the foreign houses
would have to face the possibility of Al
reluctant investing public and wish to
provide against the possible contingency
that a large portion OF the bonds might
have to be carried for a long period be-
fore becoming absorbed by the foreign
public.
London, Jan. 3i.-A London financial
firm Of high repute received yesterday
from a New York house an inquiry
whether IL would be possible to place hers
a large number OF or per cent. United
States bonds. The reply was that such
bonds would not be taken unless contains
ing a clearly defined guarantee of pay
ment in gold
Washington, Jan. 31.--A new issue OF
bonds has been decided upon and the
Treasury department will tomorrow be-
gin the work of printing them. The pre-
liminary arrangements were made to-
day and orders have been given for the
employment Of an additional force of
workmen at the bureau of engraving ana
printing, commencing tomorrow. This
same plates from which the two recent
issues Of bonds we're printed will be used
for the new bonds, nothing being changed
but the dates. 1t Is thought that at least
$780, 1000 worth will be sold and on the
same terms as previously demanded BY
the treasury department.
President Cleveland and Secretary Car>
Isle evidently accepted the statements
made by Senators Sherman and Vest
during the debate yesterday, that mo-
financial bill could pass this congress-
to be literally true, for they have since
been busy preparing to raise money to-
rar ba hxy
sale OF bonds. Assistant Secretary Curtia
of the treasury in New York Is In COM
stant communication with the treasury
department and 1t is understood that he
Is arranging the necessary details for tha
successful floating of the new loan.
The gold Withdrawals to-day reduced
the treasury gold reserve at the close OF
business to $4236i. 966. The Withdrawals
We're; At New York, $2277, 900; at Chicago
800 900. OF the Withdrawals at New YorA
81, 10000 were for export.
TWENTY STORIES pITRNEn -