New-York tribune., 1895-12-29

disposition grows to consider the loan purely
on Its merits "The Daily News" contends that
any definite official intimation of permanently
peaceabe character will find ready financial
response here, which will show that neither re-
sentiment nor distrust is left Even as the
matter stands cOnsidera BILE share of the new
issue could be placed in Europe.
Berlin. Dec 2s.-The "Boersen Courier" says
that the American Government is negotiating
with leading banks in Berlin for a loan OF
5000, 000. 900.
THE FEELING IN WALL STREET
WHY THE BOND ISSUE is DELAYED-A RALLY IN
STOCKS AT THE CIosE-J p. MORGAN AND
JAMES sTILLMAN CONFER
The understanding in Wall Street yesterday
was that the announcement Of the new issue of
Government bonds would not be made for few
days. In order TO give the Senate an oppor-
tunty to act disclose it's attitude on the
Bond bill which passed the House of Repre-
sentatives. 1t not generally believed in
the Street, however, that the bill could pass
the Senate.
The best obtainable information that
rangements had been perfected for putting out
500, 900 Of thirty-year per cent bonds, and
that the delay in making public the facts
solely out Of courtesy to the Senate. 1t was
taken for granted that the terms of the sale OF
the bonds would be practically the
those under which the bonds of the same class
were sold last February
II had been rumored that President Cleveland
was in favor Of a popular subscription but
financiers. to man. expressed themselves as
opposed to such scheme. for they believed
it would be a failure, and would hurt the credit
of the country. For instance. If the bonds were
offered at 1Os. and only s5.0oo00o or S5,o0o,oo0
of them taken it would be difficult to
get the syndicate to underwrite the balance at
par, although the syndicate paid 1O4i9 for The
last Issue. and disposed of the bonds to the
public at 1l21a Representations said to
President
presumed to have been cogent enough to induce
him to let the syndicate headed by j. Pierpont
Morgan attend to the placing of the bonds.
A conference between Mr.. Morgan and James
Stillman president Of the National city Bank
and a personal friend Of the President, led to
talk that Mr.. Stillman would be the direct rep
resentative of the Administration in the syndi-
cate and would have important part in
making up the syndicate.
DISCUSSION ABOUT THE ISSUE.
The regular daily meeting of the Loan Commit
tee Of the Clearing House given up entirely
to the discussion of the bond matter. inasmuch
as there no application for certificates to be
considered. The idea which had been conveyed
to the bank presidents who members OF the
committee was that $lOO,OOO.OOO of bonds were to
be sold outright for gold to be delivered IN lns'a-
ments within stated time and that the svhul-
cate was to contract to take $1OO,OO0,OOJ more
bonds during the coming year II the Government
should find 1t necessary to Issue them. The bank
presidents were not advised as to the conditions
Gated that the Clearing House banks had ABOUT
$50 900 900 in gold and it was accordingly cacu-
lated that they could spare 600 OF It WIN
out inconvenience 1t was asserted that the
banks throughout the country had SHOWN py
their communications to their New-York cor
respondents that they were eager to subscribe
far the bonds 1t was conjectured also that saw
ings banks trust companies and insurance COM
panies would be ready buyers of them.
No confirmation could be obtained or the report
by cable that the Rothschds did not care to
handle any OF the bonds. and that therefore Au-
gust Belmont. whose firm acts as their American @ h
correspondent, would not be connected with the
syndicate Mr.. Belmont was at his country
place Long Island.
At the office of Ladenburg, Thalmann & Co.
the correspondents of the Beichroders. of Ber-
lin 1t was stated that they had no knowledge
that the Bleichroders had been asked to take
bonds and had declined:
GOLD SHIPMENTS YESTERDAY.
Not a little surprise was created by the in
forma ton that the Umbra, which sailed at 2
o'clock in the afternoon. carried only s5ooooo in
cold. whereas 1t was expected that she would
take 100000. The only shippers were Lazard
Freres who intended to send s1,0O0O0O, but re-
duced their consignment to S500.00o. for the reason
that they were able to obtain the difference In
bills Of exchange l.. Won Hoffman, Co post
poned their shipment OF 100000 unth next
"Wednesday on instructions from their corre-
spondents in London Barring Magoun & CO..
who withdrew 100000 In coin from the Sub
Treasury for account Of Kidder. Peabody q Co,
of Boston. TO ny tHe Ci"oi u'' '''N
the gold aboard the vessel They said they would
wait until the first Of the week before shipping
The 81, 800 900 in gold which was to nave gone 10
Europe but did not deposited In the vaults
of the Mercantile Safe Deposit Company for safe
keeping. A., ,
There was q notion in the Street that the sud
den cancellation Of orders to ship gold was PROOF
that the bond syndicate was already at work
regulating the movement of gold.
A RALLY IN STOCKS AT THE CLOSE.
The course of stocks during the two hours that
! the Stock Exchange o"ened was irregular
until lust at the close. when there was sharp
| rally on the news from Washington that the
| Rond bill would pass the House before night and
enable the Senate to disclose It's position on the
| subject the coming week. Money on call ruled at
| & per cent. The bank statement was ratner
startling by reason of the decrease OF $l6OOOOOO
| I'm the deposits In the associated banks which IT
| disclosed on this point Russell Sage. who is one
| Of the heaviest lenders OF money in the street,
| said: .o, ,.,.,,r
"IIoarding Of gold and greenbacks has begun,
and higher rates for money are probable. An
| ,ssue of Government bonds row, people under
stand will have to be followed by another unless
| Congress does more than is expected II VIII 90
| A GOOD part of the new bonds Will nave 10 be
nlaced abroad. The situation. so far as gold ana
isgal tenders are concerned. Is about the same as
1t was In 1888 .., L.,
r,be return movement of currency which fol-
lows the marketing Of the crops and the Christ
mas season was said at the Sub-Trcasury 10 be
IN nrogress Receipts OF mutated currency al
TIE sub Treasury for the week were S2bI6OOo
Subsidiary coin to the amount Of 100000 was re-
cevec-