The evening world., 1895-09-16
BOND ISSUE
IMPERATIVE?
Syndicate Said 10 Be Nego.
tiatins for Another Of
S5O,000,O0o.
s5,000,g00 MAY co THIS WEEK
This Would Probably Reduce the
Government Reserve b.
low $9o,OOo,0oO.
'RUM0RS OF A NEW SYNDICATE
Ex.Assfstant Treasurer Roberts
Snys Revenues Must He In
creased or Bonds he Sold.

Talk Of new issue of Government
bonds has been revived as a result of
the recent rapid decline in the Treas
ury gold reserve. and rumors are cur
rent to-day in Wall street that such an
issue will be authorized next month.
1t Is said that negotiations have al
ready been reopened between the Bel
n ont-Morgeu Syndicate and the Treas
ury officials for an issue of sjO.OOo, 900
under the same conditions as the Feb
ruary issue. and that the bankers are
now the ones who are hesitating about
vi dertaking the new loan.
The syndicate had an option, under
its contract with the Secretary of the
Treasury. for any issue of bonds that
might be made before Oct. /, and the
mysterious visit of Assistant Secretary
William f. Curtis to this city Is believed
to have been made for the purpose of
consulting with members of the syndi-
cate in regard to a new issue.
He talked with ]. Pierpont Morgan
and Assistant Treasurer Conrad N.
Jordan. and then is said to have re-
ported the result of his conference to
President Cleveland at Buzzards Bay.
1t 10 expected tina, the heavy ship
lowed by an equally large outward
movement during the present week, and
the prediction is made that gold ship
ments are likely to foot up at least
$5,OO0.0O0 before Saturday next.
Should this expectation be realized the
gold reserve in the Treasury would in
evitably be carried below s90,O0O,0OO un-
less the banks in the syndicate turn
over more gold.
One Of the rumors current in Wall
street to-day is that a new syndicate is
being formed TO take the next issue OF
bonds. and that the Government is en-
deavoring to make more favorable terms
than 1t was able to secure from the Bel
mont-Morgan syndicate
According to ex-Assistant Treasurer
Ellis II. Roberts. there are only two
courses open to the Government to meet
the obligations of the Treasury, one
being TO increase the revenues so that
they shall exceed the expenditures and
the other to borrow money by the sale
of bonds. While he regards the latter
expedient as a mere makeshft, he says
that in his opinion another sale OF
bonds in the near luture is inevitable as
lit is the only way in which the present
emergency can be met.
When Assistant Treasurer Conrad y.
Jordan was asked this morning whether
there was any immediate prospect of a
bond issue by the Government he re-
piled.
"Of course there has been a great deal
of talk recently in the newspapers about
the advisablity of issuing more bonds.
So f.r as | knew. however. the Treasury
officials have entered into no negotia-
tions for such an issue and l do not
know that any is contemplated at the
present time.
THE statement that Assistant Secre-
tary of the Treasury William Il. Curtis
has visited New York for the purpose
of consulting me IN regard 10 new
bond issue is without any foundation.
L hear that he will be in New York
again to-day, but whether he will call
at the Sub-Treasury or not l do H..
know"
When j. Pierpont Morgan was ques-
toned in regard to the new bond issue
he assumed an air of gr eat surprise.
whats this? What's this"" he ex-
claimed in a tone of irritation. When
the question was repeated he simply
said:
~ know nothing whatever about this
report; why do you come TO me to ask
about it?''
And with that he went into his pri-
vate office, and refused to say any