Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1896-02-06
THE BOND BIDS.
The Administration Loan Meet
With Great Success.
A BIG STRING OF BIDDERS
The Loan Subscribed for Many Times Over
-Rellable Information Is That No
Lids Fellow III VIII BE
Accepted.

WASHINGTON, Feb 5.-The secretary
of the treasury to-day opened the bids
for the purchase Of 300, 900 United
States four per cent 3O.year bonds,
which had been received under his call
dated January 8, last. At nine o'clock
force Of clerks in the loans and
currency division Of the United
States treasury department began
the task of opening and scheduling
the bids The clerks employed were
not allowed TO leave the room until
the time for receiving bids closed, so
that no information in regard to the
bids could be prematurely disclosed.
The bids were announced from the
schedule already prepared in the Sec
retary's Office, where large number of
bidders and representatives of the
press had gathered.
All morning bond bids came in rap
idly, swelling the already long string
of bidders, great aud small. Every
train and every mail brought list of
bids, and at II o'clock the expectations
of treasury officials were rising and
predictions were made freely that the
loan would be largely oversubscribed
and that the bonds would bring good
price.
At 1880 o'clock the large crowd as
sembled about the secretary's door
was allowed to enter and all of the
available space was soon occupied.
Secretary Carlisle arrived at IL o'clock.
The room at the time was so densely
crowded that it was with much diff
Guilty that he could make his way to
seat.
The total number of bids received
for the new loan Is 1910, aggregating
$3.50, 2G0, $50. This number and amount
do not include three bids of 500, 0OO,-
600, $4,000, 900 and $4,000, 900, which
are of doubtful authenticity. Reliable
information Is that no bids below Ill
will be accepted The bonds, which
are redeemable In coin, will be issued
in denominations of $50, or multiples
of that sum, as may be desired by
the bidders. United States gold coin
or gold certificates only will be re-
ceived in payment for the bonds.
Under the terms of the secretary's cir
cular calling for bids, the first pay
meut of 90 per cent. and accrued in
terest, must be made upon receipt Of
notice of the acceptance of the
bid. The remainder of the
amounts bid must be paid in in
stallments of 10 per cent. each and ac-
crued interest at the end of each Is
days thereafter. Accepted bidders,
however, are allowed to pay the whole
amount of their bids at the time of
the first installment, or at any time
previous to the maturity of the last in
stallment, provided that all previous
installments have been paid.
The bonds will be dated February l,
1895, to run 30 years from that time
and will, therefore, mature February
l, 1925. J. Pierpont Morgan, Harvey
Fisk & Son and the Deutcher bank of
Berlin, as a syndicate, bid for the full
issue of 100000, 900 at l0.6s7S. Mr..
IIckels announced that bid for $780,
OOO, 900 from doctor in Michigan and
$40, 900 900 from some one in Texas
were regarded as bogus.
The success of the bond call was re-
ceived with general satisfaction in the
senate. Some disposition was mani
tested, however, by doubters who
will await details before eX-
pressing an opinion on the sue
cess of the call, especially as to
the number of bids at high rates.
Those who have been especially severe
in their condemnation of the syndicate
system were much elated, the number
OF bids received and the prices offered
being a complete vindication of their
course.