New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-24

REMAIN IN FORCE.
II was announced at the office Of ]. P. Nor
gan G. Co. yesterday that the subscriptions
in this country for the new Government loan
amounted to about $500. 900. 900, six times the
amount which was offered for public subscrip-
ton. Reports from Europe received at Mr. Nor
gan's office indicated that the amount Of foreign
subscriptions amounted to $3.50 100000, which
makes the total for the issue of s62Sl5OOo aG-
gregate s75O,OOoOoo In regard to the American
part of the loan. no official statement was made
as to the amount the subscribers would re-
ceive, and the names Of the people whose bids
have been accepted were not made public.
AS far as could be learned the foreign bank
ing houses and the people who made bids Tor
small amounts have received the preference ana
the speculative brokers who made bias ABOVE
the announced selling price ll2A' VIII not re-
ceive any of the gt-edged paper.
STATEMENT OF THE MANAGERS.
The managers of the bond syndicate an
nounced yesterday that the loan had been d sue
cess and that the desire on the part or BANK
ers here and abroad to get some OF the new
a per cents. ample evidence OF the con-
fdence in the credit of this country In max
ing this statement the syndicate managers said
that of course such an explanation was I'M
necessary. as the public already was OF
Democratic fnancierng. The loan was sue
cess from, the minute Mr.. Morgan and Mr.. Bel
mont and the other parties to the contract at
tached their signatures to the paper, and the
country now has he satisfaction of seeing the
gold reserve restored although all the gold
for the bonds has not yet been turned In.
and the bond syndicate has the pleasure of
chuckling over profits of millions which the
Government itself might have had II Congress
had given authority 10 issue another KIND OF
bond, and if President Cleveland had evinced
more determination in restoring the gold reserve
in a cheaper way.
THE BETTER FEELING.
The influence OF the bond Issue on the prices of
stocks has yet TO be learned, but II is believed
that the market will respond to the better feeling
which appears TO pervade Wall Street. The end
Of the god-exporting movement which the bond
sale brought about has restored confidence 10
many people who looked for big premium on
gold and silver basis.
The effects of the bond negotiations and the way
that the sale accomplished, or the way the
bargain was driven TWO different stories. and.
while the last-named is generally criticised, there
is no denying the fact that the country has been
benefited. even If syndicate of bankers did
"milk' the Government. The outward movement
Of gold which has been such disturbing feature
in the last two years. has now been stopped. and
IL is believed mat the foreign eNCndNSe maj net
rates will be kept below the god-shipping point
for some time TO come In about four months
from now the normal movement OF the precious
metal from Europe will begin The Foreign Dank-
ing-house members of the syndicate are under
stood to have made a castiron agreement not 10
ship any gold from here until the fall. and IT Is
also understood that those in the syndicate were
allowed TO become members only on the promise
of giving gold 10 the Treasury In exchange Tor
legal tenders whenever the condition Of the gold
reserve should require more Of the metal 10 Keep
1t above the SlOO,OOO.OOO limit
The enormous profits which the syndicate mas
made are full compensation for such concessions
as these.
In reference to the clause in the bond con-
tract which pledges the syndicate as far as
lies in its power TO exert all financial influence
and make all legitimate efforts TO protect the
Treasury OF the United States against with
drawals OF gold pending the complete perform
once Of the contract" a good many people IN
Wall Street are anxious to know just how .ons
the syndicate believes the performance or the
contract will take Some think that il is under
stood 10 mean the length OF time II takes 10 put
the full amount OF actual gold into the Treas
ury. BY the terms OF the contract the syhdlca,e
does not have TO bring more than S5.OOO,0OO gold
from Europe month. and until the S3l. .ooo oi
bonds. the amount taken abroad. are paid for by
the receipt OF the gold here the contract is sup
posed 10 be in force. AT the rate or SoOOoooo a
month II would be about July before the fuil
amount will have been turned in, and at that
time the syndicate viii be safe In letting the gold
reserve look out for itself. as the normal move
ment Of gold from Europe ought TO begin then.
"A member OF the syndicate said yesterday that
the key TO the plans and purposes OF the syndi-
cate would be found In the letter OF August BEL
mont. ST.. in 1878. to Secretary sherman. When a
similar question had been raised in reference 10
a Government loan This letter was as follows:
ae the Se S or sqdo tn ASSURE you that no
question OF rivalry. no wish OF grasplng the Gov
sideratiOn OF any kind prompts the opinion which !
venture a, your invitation, TO submit TO your
have inrusted this negotiation, essential 10 the
success Of resumpon are fHiy live 10 the su I'M
desire to secure the small legitimate banking com
mission on IN the & sn ss IN 'hf sn TO o1sGi
as far as II VIII lie in their power the resunpti9n
out unnecessary contraction and disturbance OF
the money market To assist them In their efforts
co-operaiion to which they think their manage
men OF the funding business for the last five years
entities them.
THE PERSONS IN THE SYNDICATE.
The names Of the people In the present syndi-
cate will not be given by the managers. but
she following list Of bankers. banks and outside
operators contains The majority OF those who have
turned in gold on the Government loan account:
Harvey Fisk & Sons. James Speyer d Co. Laden
burg. Thamann & Co. Brown Brothers Heidel-
X segm@n. !he Chase NationaI Bank me n,,6 Ma
ss Hsn 81 @ nhe he FIRST
anss ss FAX bank the carn
Chants Chants and c. L. Gregory. Of the Standard Oil
Company.
The nrm OF Harvey Fisk Sons received its
aiIotmehts OF the bonds yesterday afternoon
Phny FISK said that the allotment was only a
small proportion Of the bid his firm put in, and
mat ne understood that all the large bidders |
would fare ;he same way
The amount Of gold received at the Sub |
Treasury yesterday $S57.000 and at the |
Assay Office S470000 The last-named amount |
came from Europe the Paris. which arrived |
yesterday. The actual net gold now In the Treas |
ury is above s100OO000. against about S4S 100000
one week ago.
IN GREAT DEMAND IN GERMANY
Berlin. Feb. 23.-I-arge orders for the new United |
States bonds London from Berlin and |
Frankfort The closing of the list two hours after