The herald., 1895-06-26
THAT BIG ISSUE OF BONDS
Treasury Officials Appear to Be
in the Dark .>
THERE is A BIG PROTEST
A Modification of the Agreement Is
Reported
The Foreign Companies Are Said to Be
THERE is A BIG PROTEST
The Foreign Companies Are Said to Be
Holding Back the Gold Under
the Contract
Associated Press Special Wire.

Associated Press Special Wire.
WASHINGTON, June 25.-Treasuiy
officials have no information of the SYM
dicate to deposit the entire amount of
foreign gold due under the contract.
They say however. they would not be
surprised if this was done. as the con-
tract permits them to deposit any amount
in excess of the 300 600 ounces per month,
whenever they see fit. Up TO this time
the officials bave no criticisms to make
Of the course pursued by the syndicate,
for so far as they know eyey obligation
contained in the contract has been COM
piled with. AS to the rnmor in New
York that the government has PEI mitted
a modification of the contract, allowing
the syndicate to deposit more than half
of the whole amount in domestic gold,
Assistant Secretary Hamlin said:
There has been no modification of the
contract. The provision that one-half of
the gold to the amount of the loan shall
be brought from abroad IS to be carried
ont. Some of the lmportations of the
foreign gold were made in advance of the
time stipulated in the contract, but this
did not involve any modification Of the
contract"
Mr.. Hamin, showever, in the absence
OF Secretary Carlisle, declines to enter fur
ther into discussion OF the matter.
The payment into the sub treasury yes
terday of 81, 500. 900 is, according to the
Evening Post, believed to be proof that
the government has agreed to n modiiica
tion or change in the contract with the
syndicate so far as requiring the syndicate
to i'm port $32, 800 600 of gold. but as the
syndicate managers admit that their con-
tract does not expire until October and
that they are required to do all in their
pow ,r in the meantime 10 maintain the
governments gold reserve, they may yet
have to import gold unless they continue
to prevent its expectation. OF their abil
ity to do that until October lst, no one
seems to have any doubt. The Evening
Post continues:
Thus far the syndicate has imported for
the account of the new four per cent
bonds Sl3, 455, 900. 1t has 5000, coo of I'M
ported gold in the assay cffice to its cred
it and as deposited in the treasury; alto
gether more than $66, 600 600 OF gold.
That the managers of the syndicate are
masters OF the sterling exchange market
ana thus enabled to maintain the gov
ernment's gold reserve was said by bank
ers today to be shown by the fact that
they notified the members OF their cyndi-
cate of their intention to return to them
this week the balance of the 60 per cent
of the money they advanced in gold for
the syndicate TO deposit in the sub-treas-
ury last February to purchase half the
bonds sold in this country. This 60 per
cent will amount to many millions of
dollars, and when they get it the bankers,
members of the syndicate say. will not
know what to do with it. that there is
such a plethora of money that it is al
most unlendable except on call at un.
profitable rates.
An indication Of the change in senti-
ment in relation to tie gold question was
seen today at the sub-treasury. when
deposits of gold were offered IN exchange
for greenbacls of large denomination.