New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-09-17
THE BOND ISSUE TALK.
ASSISTANT SECRETARY CURTIS AGAIN
IN TOWN.
THE RESERVE LOWER THAN AT ANY OTHER
TIME SINCE THE LAST rssUE-THE MONEY
MARKET TIGHTER - WITHDRAWALS
FOR SHIPMENT TODAY


FOR SHIPMENT TO-DAY.
Wall Street was absorbed yesterday in the gold
reserve discussion. The probability of an i'm
pending new issue Of bonds, as indicated In The
Tribune yesterday. reused bankers and brokers
into animated discussion of the situation. 1t was
generally conceded that unless present conditions
undergo a speedy change the issue will be i'm
med!ately necessary.
The temperance Of William f. Curtis Assist
ant Secretary OF the Treasury. upon the scene
heightened the belief that he was especially COM
missloned to feel the pulse Of the syndicate and
arrange oremnaries for another issue OF bonds
Mr. Curtis took luncheon with Conrad y. Jor-
dan. Assistant Treasurer OF the United States. and
the two were for some time in conference at the
Sub Treasury Whether he had been at Buzz
yards Bay since leaving the city for Bar Harbor
he would not talk about. He declared that he
knew nothing about that question
Mr. Jordan was emphatic in asserting that so
far as he was concerned IT mere speculation
as to what his superior officers were doing or In
tended TO do touching any further bond issue
When Mr. Curtis at his office, No. So William
ST.. late in the day. in response to an inquiry he
sent word to the reporter tina: he was In the city
purely on private business and was too busy to
talk
An interview was published yesterday in which
J. Pierpont Morgan was made to say. according
to Mr. Jordan. that Mr.. Morgan did not consider
Government bond issue desirable at the present
time. Mr. Jordan repudated having made any
such statement. and Mr.. Morgan denied that he
had expressed any such opinion Mr.. Jordan
further said that he had not discussed the bond
question with Mr.. Curtis.
When Mr. Morgan was asked II he had had any
conference with Messrs. Curtis and Jordan. as the
Street had it, he replied 81 will not answer any
such question that do not think 1t Is time
yet for discussing such matters. Let things take
their own course and they will come out all right
CONDITION OF THE MONEY MARKET
An element initiating against the need Of the
expected issue Of bonds appeared yesterday In the
Tightening Of the money market which. OF course
would tend to keep gold on this side OF the Atan-
tic. Another source OF unexpected relier was
pointed out as follows BY a wel-known bank pres
ident: THE associated banks have holdings OF
from s25 600 900 to $780, 900 in gold and this may
be used in the movement OF crops. so that an
abundant supply Of commercial bills would be the
result In that case the need of gold for shipment
abroad would be greatly. If not wholly cur
tailed"
This statement taken with other facts outcrop-
ping within the last week. strengthens the I'M
preston that the banks are not overeager 10 place
gold at the QlSpOSdl ol tue ~ NhuiSatc'
want their gold II offered. to directly into the
Treasury in order to strengthen the reserve at
once or else they prefer 10 use 1t In moving crops
and thereby increasing greatly the supply OF COM
mercial bills
The bearing Of this is the more readily seen
when one recalls the fact that LaZard Freres eX-
piained their Saturdays shipment OF S2,oOO,OO0 IN
q I'D by the stateuC that Ii was forced upon
them by the lateness of the crops, commercial
bills not being sufficient in number in the season
e"pe0'e TO-DAY's SHIPMENTS
w. H. Crossman & Bro withdrew sS6oooO In
gold for shipment to-day, and II. j. Baker & Co,
fertilizers in Pearl-st withdrew $l50,000 for ship
rnent through the same firm: total. sl,O0O.OOO.
Washington. Sept. 16-The true Treasury gold
reserve stood at the close OF business to-day at
s9 642 the lowest point reached since the last
bond issue raised the reserve above the SlOooooooo
mark -, l..
Many offers to supply the Treasury with gold IN
small quantities of from $4,000 to slOoOOV nave
been received and all the offers considered fayor
able TO the Government have been accepted. Sew
eral offers have been declined. One OF these was
from a Louisville Ky) bank. which desired the
gold IL offered to be accepted at It's race value
Two other offers. where the banks wanted tne
Treasury to pay the express charges on the soiu
and currency both ways were also rejected
All offers Of gold within the limit OF tolerance IN
exchange for currency forwarded at Government
contract rates have been and Will continue TO be
accented by the Treasury long as this speciai
concession is ntnued in force. Several offers OF
'lghtweight" gold have been declined: These
lots of lightweight gold always make their ap-
pearance on occasions such as the present, but so
Ear the Treasury has not been caught In the trap.