New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-22
THE BOND SUBSCRIPTIONS.
INFORMATION AS TO THE AMOUNT TO BE
GIVEN OUT TO-DAY.
THE SYNDICATE WILL TRY TO PREVENT ANY of
THE ISSUE GETTING INTO THE HANDS OF
THOSE WHO HAVE BEEN BOARDING
GOLD. AMONG THEM BANKER
OF DECIDED Sill


,eraay In regard to the subscriptions to the new
Government 4 per cent bonds, and Mr. Morgan
repeated his statement of the previous day. that
II would be impossible to get at the exact amount
OF the subscriptions before tomorrow Inc
issue as stated in The Tribune yesterday mas
been largely oversubscrbed. and there is only
small chance OF each subscriber getting much OF
the gilt-edRed paper The majority Of 1t will be
sold at a high premium In Europe. where IL
already commands something like 5la per cent
above the selling figures mentioned In the pros
pectus.
The gold for the payment Of the bonds. when
Is to come from abroad, began to arrive yesterday
The Majestic brought In $l125OOo This amount
was consigned 10 August Belmont q CO. Con-
sderably more Of the precious metal VIII come
I'm by the Etrurfa and the Paris. arriving 'his
week. and each succeeding steamship will bring
IN consignments until the full amount OF the gold
contracted for abroad has arrived. As the
terms Of the contract do not compel the payment
of the gold from abroad in any stated time, 1t
will, probably be several weeks before the Gov
eminent receives all the gold which the bargain
with the syndicate calls for
The new bonds are now In great demand. and
the bid price for them is rapidly going up. The
hid, Yesterday advanced from l1S to 11sMl20. but
no actual transactions were made. There is
great desire on the part Of every one who has any
money 10 spare to get hold OF some OF these
bonds and Just az soon as they are placed on the
market there will be another big rise In the price
Bond dealers who think that they will get an
allotment of the bonds are not accepting any
bids for future transactions. because they feel
sure that prices will rule much higher
THE PREMIUM DISAPPEARS.
The slight premium which has been paid on
gold In the last week disappeared yesterday, and
1T looks If some people who have been hoard
ing gold will fan short on the transaction. II
was reported yesterday that the bond syndicate
had discovered a private banker OF decideu
silver views who had been boarding gold, ana
had on hand nearly 100000. in the hopes OF Sc
curing a big profit on It, No names were men
toned but the silverites among the Newly ork
bankers are 80 few that II is not hard 10 guess
who this person is Some say 1t Is j. IS
Colgate and others w. p. ST. John. The fact
that siiverites would hoard the precious metal
IN view Of their well-known views OF the ques-
ton caused considerable amusement in banking
circles. The large amounts Of boarded gold will
now come out, and the people who boarded gold
and made bids for the bonds will have their sub
scriptions rejected even If they bid 200 for the
bonds The policy Of the syndicate Is no, 10 let
any Of the few bonds which will be allotted get
into the hands of the goldhoarders II it can felp
it. and a certain old finanCier who knows how
10 avoid bombs will not easily get one scrap OF
the Government paper.
Reports secured from abroad yesterday were
TO the effect that the London market was quiet
so far American stocks were concerned out
that tremendous amount Of interest was being
taken in the new United States per cents the
fact that there has been such an oversuoscrip-
ton TO the bonds here and abroad makes 1t
possible .or the syndicate to carry out for the
Government one OF the main purposes OF the
bond issue. which is to allot tire bonds In way
which will give to the Treasury outside gold
that is gold which has net previously been taken
from the Treasury. The syndicate has SHOWN an
amount of discrimination already which has
caused a good deal of feeling among certain In
sti;utions who want the bonds. The institutions
which hold gold which is known to have been
taken from the Sub-Treasury Will get none OF
the bonds. and as they will have no use Tor the
gold which they have withdrawn. the chances
are that they will return 1t to the Treasury
THE FOREIGN EXCHANGE MARKET.
In regard to the export movement Of gold, 1t
Is believed that all the foreign banking houses
which get a part Of the bond issue have agreed
not 10 ship gold before next fall. Yesterday the
foreign exchange market was stronger. but there
was no good reason for the advance. In most
ears the foreign exchange market undergoes
change In July and gold is expected from
abroad. For the next four months god exports
would not be unusual. but it is believed that the
bond syndicate can control the foreign exchange
market so as to keep the metal here. An ex-
change banker said yesterday
Ordinarily we expect the exchange market 10
undergo a change about July. At that time. as a
rule begin TO discount the outward move
ment of produce during the fall and rates gem
orally decline from specie export point. reaching
specie import point some weeks later Uhder
ordinary circumstances. therefore, tnere "ouio pe
only about four months before US during which
we should expect TO ship gold. These four
months must therefore. be bridged over by the
syndicate in any event Now. there Is no douDt
that. far as our regular balance or trade Is
ID concerned we are entering the spring with
smaller liza biities TO Europe than ever before at
this season Moreover this year think we
shall have little or Withdrawals OF capital 10
face. even If we do not have reinvestment by
foreign capitalists. Consequently am rather
confident Of the syndicates ability TO manage
the exchange market SO as to obviate goo eA.
rorts IL is simply question OF adjustment. III
gold exports are STAYED off during the exporting
season OF course there will be no imports in the
importing season, as THESE VIII nave peeh ordWh
against in advance.
Washington Feb $50 far the Treasury has
received on account OF the MorganBemont bond
sale: Gold CON- s27.S7l.5se: amount taken up IN
Treasury gold reserve s2373so; certificates issued
for the gold. &aS.s727a.
THE EMS BRINGS 100000 IN GOLD.
Southampton. Feb. 2l.-The North German
LLOYD steamer EMS. Captain Remkasten. from
Bremen via Southampton, for New-York. sailed
from this port to-day. She took on board here
f203. 900 In gold.
. BOUGHT CHIEFLY FOR NETWORK AC-
COUNT.
London Feb M.--At the close Of business on the
Stock Exchange to-day the United States loan
was quoted at 81 premium. The purchases OF the
new loan have been chiefly for New-York ac-
count, confirming the belief that nearly all OF the
London scrip will 60 TO the United States.
.' WARD MALLISTERS ESTATE.