The Providence news. (Providence [R.I.]) 1891-1906, 1896-01-01
xTIl Be Furnished at Same Price as
For Last Bond Issue.
CONTRACT REPORTED AS SIGNED
But Nothing Definltels Learned
at Washington.

half OF this sum first and 10 have the
option Of taking the othor half, and 10 de-
liver per cent 30-year coin bonds at about
the same price as paid for the last issue OF
bonds; the managers OF the syndicate To
receive n commission OF per cent
Tho dispatch further says; The most
intercsting piece ot news In financial Cir
cics next TO the report that contracb
had been siguod by j. u. Morgan AZ Go.
for new government loaDl WAS the All
nounccmcnt that Lawson. Wcidenfeld &
Cp. had offered $500 600 in gold from Lon
and thai ii will leave ON Saturday. IL Is
understood that the gold is imported for
the purpose OF paying for some OF the new
government bonds TO bc issaed.
Every one down town when questioned
about bond Issue professod absolute ig-
norance on the subject, but on every hand
II was said hat when new loan is made,
one Of the sipulations with subscribers 10
whom bonds aro allotted will be that part
of the gold To bc received In payment
therefor must come from abroad, and an
other will DC that none of the gold SO re-
oeiyed has been taken from the United
States treasury for the purpose. A curious
thing in connection with lhc importation
of gold by Lawson. Wodenfeld a. Co. is
shat bankers who sold them the exchange
on which to import the gold Will have TO
export gold 10 cover their bills.
Syndicate subscriptions Closed.
II was reported that J. p. Morgan g.
Go. did not receive any subscriptions to the
government bond syndicate after o'clock,
because fhc applications had amounted
70 Si5O001, 900 at that time.
II was also reported that the syndicate
in the first instance was made up by j. II.
Morgan & ca. Ihc City National bank.
Che Hanover National bank tpd German
bank: thar Mcssrs. Morgan a. Co would
take $50. ,0O0O, the City and Hanover
National llanks S25 OJ0,VOO between them
and the German house Ss5, 100000. Other
banks and institutions arc Co be allowed
10 participate nj price III wLet III virtually
10 be blind pool, the four members OF
the syndicate mentioned handling the
bends.
Further proof was received OF the or
dcrs given by London bankers 10 claim
gold for all coupons payable in gold duo
On Jan. ], and remit the gold, or, as in
pome eases, retain 10 subject TO order. In
event of non-pnyment in gold. protest
thereof Is To bc made. Many bankers also
received simils.f instructions from interior
hanks with regard 10 coupons OF the Penn
ylvania Railroad company and other
companies falling due on Jan. ?. These
banks, some OF them I'm Pennsylvania, III.
structed tAcir agents here TO remit the
gold 10 them by express.
Bullion dealers yesterday BID = cent
premium for gold. but could obtain none
At that price Tho lowest offers made
were at "a cents premium. and at that
rate one foreign house said it could be i'm
ported at n profit. Ii was announced at
noon that the gold shipped from this city
20 London today had been purchased for
American account i'm London and would
BE- returned on the same steamer Tho
price paid was half penny an ounce higher
than the Bank OF England's bid.
There Are No New Developments
In Washington In tho matter of "a new
bond issue, and the opinion now prevails
that IL may be postponed for number OF
days yet
The cessation of large Withdrawals OF
gold for export aud the fact that one or
more orders have becn placed for gold ship.
mcnts from abroad are important factors
In the question of an carly issue.
On the othcy hand, the almost daily an.
nouncrncnt fsom the sub-treasury at
New York ibaf considerable quantities arc
lcing Withdrawn in redemption Of legal
tenders wonla serm to Justify prompt &c.
tion on the pa.'t of the president These
Teicmpiians. IL Is said. nrc undoubtedly
asked for for Inc purpose ~ accumulatDg
supply o( gold with which 10 purchase
l,onds when they shall have been placed
on the markef hy the syndcntr, and as
they now aggee- -atc considerably moro
Than fo,'uj.pVt sinVc thr fort hcomiHZ t..
sue became settled fnct, their early dis.
continuance has become matter OF the
1rst Importance.
This can b, accomplished however.
only through the operations Of TIE syndi.
cate. and n IA argned, therefore, that the
Interests Of t.in government lie in
prompt announcement Of the issgr What
would he tho resuit oi these conflicting In.
fercsts is nor npw apparent
The report FROM New York 10 thc effect
that the nembrrs o. the new syndicate
have entered into an arrangement by
which the government is 90 bc at once
furnished with 81 n.o)10J1 i'm gold. and
later on. M its option, with Si1,.0D3,O1) in
addition. cannot lSs verified at his time.
II IS the general r?inion. however. that
ihis arrangement f0r an additional con.
prUval ~ tho president. who H. nnxiou,.
ihr tlis issue shall lc The lasf during his
term ~ ui'irc. Il j. briicvcd futcr that
the conditions Ne TO the procurement of "A
part of thc gold from abroad aud that no
part Of it shall be withdrawn from tho
treasury arc madc pats OF the new con
tract
Tho forthcoming monthly t-asury
statement will show an excess Of reccipos
over expenditures for The month OF De
cembcr of about tJi2Ooo. which is n gain
over November % about sl,s1J,O)O. The
heavy payments on account Of interest.
pensions and Pacific bond rodcmptions
during January are expected 10 result in
a LARGO deficit q" ih1t mouth The dohr't
FOR the present fiscal year ending June 30.
1895. IA expected to be approximately si7,.
C0OuO0
These figETes, however. are based upon
the assumption that the receipts from
customs viii materially increase dnring