The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-01-30
A NEW BOND ISSUE AT HAND.
IT WILL BE OFFERED MONDAY II
CONGRESS DON'T ACT.

and he Payable i'm Coda syndI-
cate of Foreign Bankers Expected
To Take Big Block of the Issue.
The Gold Reserve Down to 4s,5OO,-
900 Dollars.
New York, Jan. 29-The continued heavy
Withdrawals of gold have caused the gem
eral belief that a bond issue will have
to come very shortly. unless congress
takes quick action on the proposition of
the President for an issue Of per cent
gold bonds. II was expected that the is
sue would be made this week. but the
President decided TO make last appeal to
congress for 3 per cent. gold bond before
sacrificing the credit Of the government
by the sale Of 4 or per cent. gold bonds.
If congress does not accomplish anything
this week in the direction of the Presi-
dents gold bond scheme. 1t Is understood
that $lOO,000,0OO 4 per cent. bonds viii be
issued next Monday. or, at all events, be-
fore the close of the week. If the scheme
should be killed this week the issue may
come before next Monday. Notwithstand-
ing the denials of August Belmont, IL IS
believed that he will be at the head of
syndicate Of foreign bankers, which Will
take huge block of the bonds 1t is
apparent that a large portion of the
issue must be placed abroad If the treas
ury is TO make any permanent gain in
gold, and in no other way can an effectual
halt be put upon the gold export move-
ment.
The withdrawal of 500 COO 900 from cireu-
lauon will also cause an active money
market and in this way add to the check
upon gold shipments.
The steamship Lain, which sailed
for Europe this morning. carried
S562,OO0 in gold shipped as fol-
lows: BY Heldelbach. 1ckelheimer &
Co, $2.000.000; by Landenburg, Thalman
& Co, $l,062 600, and Lazard Freres $50O.000.
Philadelphia, Jan. 29.-GOld coin to the
amount of $2,50OOOO was to-day shipped
from the Philadelphia mint TO the New
York sub-treasury. Within the past week
$0OO0,0O0 in gold have been shipped from
the mint here to the sub-treasury in New
York.
Washington, Jan. 29.-The treasury gold
reserve was reduced to-day as far as
reported up to the close of business to
$iS,5l6.l93. The Withdrawals Of the day
amount to SS,149,OO0 and for yesterday
and to-day combined aggregated T,22i.-
600. In addition to the IS, 1856, 900 telegraphed
as Withdrawn Monday S690,000 was an
nounced to the treasury to-day by mail
as withdrawn, making the reserve. SO
far as taken Withdrawals leave It, SIS, 600
900 as stated.
1T now looks,' said Representative
Walker Of Massachusetts, to-day "as
though the administration banking bin
introduced by Mr.. Springer yesterday
may be amended SO as to make It ae-
ceptable to the business interests of the
country"
appearances Indicate that the bill
will be reported from the committee in
aaFI f..frr
sell of Connecticut. ''tnat it will receive
the support of nearly all the republicans
in the House"
Both gentlemen are members of the
House committee on banking and cur
rency, to whom the bill was referred,
and the foregoing declarations were made
by them when the committee adjourned
this afternoon at O'Clock, after being in
session since 10 o'clock this morning.
The amendments adopted by the COM
mittee were these: Permitting the bonds
to be redeemed after ten years at the
pleasure of the government; reducing the
tax on national bank notes from 1 per
cent to a Of per cent. per annum; strik-
ing out section 5, which provides that
customs duties shall be paid in gold.
An amendment providing that the bonds
shall be paid in coin instead of gold was
lost.
Two other amendments were offered
and debated at some length without any
final conclusion being reached one was
offered by Mr.. Russell Of Connecticut.
II provides that the amount of treasury
notes cancelled in any one month shall
be offset by a corresponding issue of ma
tional bank notes. This amendment was
carried and then reconsidered.
An amendment offered by Mr.. Walker
provides that the reserve to be held by
the banks shall consist Of one-half In
fgDf fAa a
other half in silver coin and silver certh-
Gates. The discussion upon this PROPOSE
ton was purely an economic one, and 1t
turned upon the point whether the forcing
of the banks to procure gold would not
create greater demand upon the treas
ury than now exists. Mr.. walker met
the objections with the argument that II
would put the banks in n more solvent
condition by requiring them to keep spe-
Gle on hand.
These latter amendments will be eonsid-
cred tomorrow, and the Indications this
evening are that the bill as amended will
be ready to be reported to the House
tomorrow afternoon. The discussions did
not follow party lines, and it Is said that
none of the several votes taken were what
are known as strict party votes
Representative Tracey Of Albany, N.
Y. who is a conspicuous champion Of the
administration, and who was active at the
extra session
the repeal Of the Sherman silver law,
saws he believes the bill Will pass both
houses of congress.
All Of the member Of the committee
were present at to-day's session except
Messrs. johnson Of Ohio, Johnson OF Tndi-
ana, Ellis of Kentucky and Culberson Of
Texas.
The Senate finance committee held two
long sessions to-day without accomplish
ing anything The second session began
at 2 o'clock. Senator Voorhees, had in the
meantime formulated his views into
bill which he had printed, and now sub
mitted to the committee. 1t was soon ap-
parent that nothing could be done, and
an adjournment was taken with nothing
accomplished. The following is the fun
text Of Senator Voorhees, bill:
Be 1t enacted, etc, that to enable the
Secretary Of the Treasury to provide for
and to maintain the redemption of United
states notes, and also to enable him to
pay current deficiencies in the revenue, he
is authorized I'm addition to the provis
ions Of the act of Jan. IA, 1875, from time
to time, at his discretion, to issue GER
tifcates of Indebtedness Of the United
states payable to the bearer In coin, after
three years from date at
the option of the United States,
of the denominations OF SO, $50 and 500,
H.