The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-02-17
SALE OF THE NEW BONDS.
The Issue to he OGered 10 the Public
This Week.

~
New York, Feb. 16.-The new United
States 4 per cents. win be offered to the
public next week. payable in current
funds. The ten days option Of the gov
ernment, during which per cent gold
bonds can be substituted for 4 per
cent. coin bonds. expires next Monday.
II is thought that the new bonds may
be offered on Tuesday or Wednesday.
OF the So. 900 gold deposited in New
York and other cities. sip 100000 has been
deposited out of town-at san Fran
cisco. Boston and baltimore. The N0.-
100000 deposited in the legal repositories
the First Park. and City National
Banks and the Bank of COmmerce-to-
day represent principally the gold hold
ings of these banks, which We're taken
from the accounts OF the banks and cred
tied on the books to the government
account subject to the disposal Of the
trade.
1t was reported IN Wall street, although
the managers OF the syndicate declined
to confirm the report that the syndicate
has sold SsQ,O00,000 bonds at 1llas, leaving
only about 50. 100000 more bonds to be
placed in this country. However, a mem-
Der of the syndicate stated to-day that
only a comparatively small portion OF the
bonds would be offered for sale as the
banks desire to retain their bonds to a
large extent as a basis for new circula-
ton when money begins TO harden later
in the year, as is anticipated. The saw
ings banks are also desrous Of obtain
ing a proportion of the bonds for invest
ment. Bids at 115 were made to-day to
members of the syndicate, but Were not
considered. The managers of the syndi-
cate intend 10 offer the bonds at a price
which will insure a quick absorption of
the amount to be sold, and win not base
their judgment on any such isolated bids
as have been made for small scattered
lots.
Russell Sage, who withdrew S55oO0O in
gold from the subtreasury yesterday, is
not, and Will not. be a member OF the
syndicate, and none of the members will
take this gold from him, All the mem
bers of the last syndicate who Withdrew
gold from the subtreasury have been
carefully excluded from the Belmont
Morgan syndicate.
London. Feb. 16.-The statist, in an, ar
ticle on the new United States loan. says
United States bonds, running thirty years
and yielding 3ik per cent, are an exceed
ingly good investment and viii, without
doubt, be eagerly sought for In London
and on the continent, but they will not
put an end to the crisis. The new con-
gress will not be likely TO pass the re-
qusite measures, and President Cleveland
VIII uol DOAIOW AbAAHs AAAI +NotAN VII hN
that gold will go TO premium, but the
government win not break faith with its
creditors, but will pay gold, though its
domestic currency IS silver, the same as
Russia and India pay gold'
The Etrurie and Paris VIII carry fl0o,-
600 for New York fo- dy.
The Economist maintains that 1t would
be absurd to pretend that the United
States is under obligation, moral or other
wise, to pay gold. The case, the paper
says, Is Identical with that of India, which,
II it elects to issue a gold loan, can bor-
row at a less rate than 3 per cent, but has
to pay an additional per cent. for rupee
loan.
soS hampton, Feb. 16. The steamer
Paris, which sailed to-day for New York,
had on board consigned to New York
900 gold.
New York. Feb. 16.-Bullion brokers
say there is very little demand for gold
to-day. The quotation is given at 14qla
per cent; that is some of the brokers
will give the lower rate and offer it at
the higher one IT looks, however as II
the demand has been satisfied, and that
the so-called premium will shortly dis
appear.
]. Pierrepont Morgan announced that al
the close of business to-day the bond
syndicate had deposited in the subtreas-
uries throughout the country and banks
acting as legal depositaries s22,OOO,0OO In
gold on account of the coming bond issue.