The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-02-12
BELMoNT'S DEAL IN BONDS.
THE SYNDICATE BEGINS DEFosIF-
ING GOLD.

4 Total Of sI,5O0,OOO Taken TO the
sub-Treasury at New York Yester-
day-Interest Bearing Certificates
OF Deposit 20 BE Issued for the
Gold Deposited Unul the Bonds
Are Ready-SO Action by the sem
ate Committee.
New York Feb 1.-THE Belmont bond
syndicate began the deposit Of gold to-
day S5oo.0o0 being deposited by the Chase
National. Bank in the United States assay
Office, and 100000 was received from an
other bank. supposed 20 be the Fourth
National. after business hours but was
placed in store by the superintendent OF
the assay office
The Washington authorities notified AS
sistant United States Treasurer Jordan
that all gold deposited on account OF the
bond syndicate must be deposited at the
assay office and accepted as bullion. The
government win only credit the syndicate
for the actual weight OF the gold in the
gold coin accepted. 1t was also decided
to-day by the Washington authorities
that certificates of deposit could be is
sued on receipt of the gold, which should
bear the same interest as the bond is
sued. For this reason the banks will
deposit gold before the bonds are issued.
The bonds are to bear the date of Feb. T.
and the dcpositor of gold will receive
credit for interest from the date of de-
post, which Will be figured In the price
of the bonds.
Washington, Feb. n.-To-morrow being
the regular day for the meeting of the
Senate finance committee, when 1t was
am huF Ha
which had been referred to that commits
tee, would naturally come up for consd-
Grafton. the republican members of the
committee held a conference this after
noon in the room of Mr.. Sherman for the
purpose Of outlining the policy they
should pursue There was an interchange
Of views, but no conclusion was reached.
one prominent senator, one of the leaders
Of his party said after the conference was
over that the republicans deemed it best to
remain IN a receptive condition." pend
ing the action Of the House. and soms
suggestion that should come from tha
democrats in the Senate. For this rea-
son, while they we're all agreed that they
should assist in reporting any measure
along republican lines that looked to the
maintenance Of the public credit and the
payment Of the current expenses OF the
treasury. they decided that the initiative
should be taken by those charged with the
responsibility for the legislation OF this
congress.
The proposition to place some sort OF
a financial rider on the sundry civil bill
was discussed and the senators pres
ent agreed that II that was done they
would support II. This is Mr.. Germans
idea, and he has prepared an amend
ment to that bill which will provide
for either per cent. bonds or treas
uTy certificates drawing the same rate
Of interest, and will press II to vote.
AS this is In line with the republican
idea of what should be done Il would
naturally receive the sanction of that
side Of the chamber. with the excep-
tion, possibly of the silver republicans.
IT Is believed, however, by Mr.. German
and MIR. Allison that If this issue OF
certificates is expressly stipulated TO be
used for meeting the current obligations
Of the treasury that the silver men In
both parties, after filing their formal
protest against tho government putting
out any more of its obligations, would
permit the amendment TO prevail.
Nothing will be done tomorrow by
the finance committee for the reason
that there will be no meeting. Mr.. Voor-
hees, the chairman, was indlsposed to-
day and did not put in an appearance at
the capitol. During the afternoon, how
ever, he saw some Of his colleagues, and
believing that there was nothing of imme-
diate Importance before the COMMITTEES
upon which it could likely agree. he
directed notices to be sent to the MEM
bers informing them that the regular
meeting Of tomorrow would not be held.
In view Of the urgent request made by
the President and appeal for authority
to issue per cent. gold bond within ten
days to substitute for the loan he has
lust completed, the failure Of this com
rnittee to at least consider the measure
,w.ll doubtless cause some comment
about the Senate end of the capitol