The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1895-03-06
GREAT RUSH FOR BONDS.
Big Scramble for the New Four Per
Cents in New York.
ALL TAKEN IN A FEW MINUTES.

Bills Received for MoSe Than Ten Times
;'.c Amount of the Loan of S6a.5OO,-
Nc0---Forcisn Financiers Showed Great
EaSerness to Get the New Yankees I"
---SellinS 1T y P-em;uu,.
Subscriptions for the much-talked-of four
pc. cent bond issue, which is to supply the
Critsd States Treasury with 9G5,0o0.0o0 In
gold. were opened simultaneously iii New
York City and London. With the opening
and rapid closing OF the new bonds, brief
visit from Secretary OF the Treasury John G.
Carlisle and reports thar I.ondoncrS had gone
wild in their efforts 70 subscribe to what
.hey facetiously termed the New Yankees
the New York financial world generally had
sufficient to occupy its attention for one day
at least.
Long before the banding houses of J. P.
Morgan & Co.. and August Belmont & Co..
who received subscriptions. opened Tor bus1-
ness. messengers with blank bids filed out
stood in line resdy to subscribe to one-half
OF the S62 100000 four per cents. which por-
tion the big foreign syndicate is under con-
tract to sell in this country.
At 10 o'clock the subscriptions were re-
.ceived. and for exactly twenty-onc minutes
all blanks presented were taken. 1t was ex-
'actlv twenty-one minutes past 10 o'clock
when the big subscription closed.
In that time every dollars worth OF the
S3l. .090, 900 bonds was subscribed for ac-
'cording to estimate, twelve times over. and
those whose subscriptions will be received
had the gold 10 pay FOR them either in the
:Sub-Treasury Or in one oi the several banks
.deputiZed co act as repositories for the Gov
eminent.
According to tho announcement of Messrs.
Morgan md Belmont on behalf Of the syndi-
cate. the right was reserved by them to reject
any applications, to ailot smaller amounts
than had been applied for and to apportion
:aiiotments between American and European
applicants in any way that they might deem
best.
The amount of the entire issue of the new
-four per cent. bonds is 262. 500, 900 in coupon
form OF $50. 800, $1,000, and registered form
OF $50, 800. $1,000 and $4,000 each. They
bear interest from February l. 1895, when
they arc dated, and are payable at the pleas
ure Of the United States after 1925. when they
mature. Interest is payable quarterly on
February I. May !, August and November l.
: The price Of the bonds to the public is
1121l, of which 12l4 per cent. is payable on
the allotment and the remaining 100 per cent.
upon the delivery OF the bonds with interest
at four per cent. year from March L.
The bonds will be delivered as soon as they
are prepared and executed by the Treasury
department. It has been arranged that pur-
.chGsers who desire 70 complete their pay
;ments before the delivery os the bonds shall
receive negotiable receipts.
Tho other half Of the 62,315. 900, which. in
"a like prospectus to the ono issued in this
country, was offered In London by Roth
,schild & Sons and j. S. Morgan Co.. it was
announced by a cable despatch has been sub
scribed for ten times over. A later cable des-
patch announced that the bonds were at
premium Of four per cent.
!; Secretary Carlisle aud his son, William f.,
called on Assistant Treasurer Conrad N. Jor-
dan at the United States Sub-Treasury in
New York during the morning. Mr.. Carlisle,
when questioned by u reporter. declared that
he had not word to say for publication on
the question Of the new loan or any subject
connected with bis Office. He said, however,
that he already knew OF the great over-bid-
ding for the bonds and of the success OF the