Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-02-21
ENORMOUS SUCCESS.
GREAT RUSH IN LONDON,
A Regular Fight at Mergsm's foe
Places In the Line OF wouia.B~
subscribers-rhe nonds at four Pcs
Cent. Premium.

NEW YORK. February 3o-The SUBJ
scription-books for the ss2si5.cs United
States per cents. were opened
promptly at 10 O'Clock this morning. al
the Office OF j. Pierpont. Morgan a Co,
and Just twenty-five minutes later the sub
scriptions were closed. There was little
or no excitement at the Office OF Nor
gan & Co.; in fact. the attendance there
was about the same as on ordinary busl-
ness days. This Is accounted for by the
fact that the bulk OF the bids were sent
In by mail. and for this reason to-day's
performances was looked upon as a mere
formality. TO use the expression Of one az
the leading members OF the syndicate.
The bonds were subscribed for at least
ten times over. and the loan In every
particular has been an enormous sue.
cess.
Mr.. Morgan Is authority for the state.
ment that no details will be giyen' out
until Saturday, when the allotments are
TO be made. The bonds sold at per cent
premium In London to-day. and iis was
bid on the street here this morning.
GENERAL GOOD EFFECT.
A principal member OF the syndicate "A
authority for the statement that the enor-
nous over-subscription 20 the honda
was astounding even TO the syndicate.
The success OF the whole deal abroad cam
not be measured IN immediate connec-
ton with the sale OF the bonds IL fx
anticipated that IL will revive the iu-
terest In American securities and s,lmu.
late an interest In our railroad securities
such as has not existed since the Barin,,
panic. thus turning the real balance OF
exchange In our favor. 80 that when ex-
ports of breadstuifs begin next fail the
natural flow OF gold will once mora be
toward the United States. The strain
upon our gold holdings will thus be re-
lieyed for the first time In two years.
RUSH IN LONDON.
LONDON, February 20.-The United
States loan prospectus was issued very
late yesterday afternoon. and q regular
fight ensued at Morgan's for places In
the line. and this morning there was a
renewed rush OF subscribers. The lean
was subscribed for many times over.
The premium at one time this afternoon
reached 1880.
GOLD PAYMENTS COMPLETED.
NEW YORK. February 2o.-The gold
payments Of the Morgan Belmont SYM
dicate due from this country were COM
plcted this morning. Mfr. J. L. Morgan,
finding that there was surplus OF N.is #,
600 gold on hand. turned II over 10 the
Sub-Treasury at 2 per cent, and took
legal tenders IN exchange.
When the whole transaction Is COM
pleted. II Is expected that the syndicate
will turn In between s7S.0oo 90 or $50 co
In gold, az all payments for subscription
made in gold were handed over to the
Sub-Treasury.
TREASURER'S ANNOUNCEMENT.
WASHINGTON. u. c.. February ao.--
United States Treasurer Jordan sent this
telegram TO Assistant-Secretary Curtis
this evening:
NEW YORK, February ao-2:3g p. 81.
Inform the Secretary that syndicat.
! have completed the matter Of the pur.
4 chase Of gold coin on this side. and have
now turned in N.l230o gold coin In en-
| change for United States notes in excess
OF contract
This is understood 10 mean that S30.o.
| 900 In gold have been secured by the Nor
| gan-Belmont syndicate In America foF
| payment for the bonds. the balance, near,
! ly $)5.0O0.00Q, having been secured In Lon
| don. where more than four times the AZ.
| lotment for that side was subscribed for
| So far 80 In gold have been re,
| ceived by the Treasury from the syndi.
| cate. and 81. .oc0. $40 In certificates issued
20 II. II will probably be several weeks
| before the bonds are ready for delivery.