New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-02-08
THE ALLOTMENT OF BONDS.
MR. MORGAN's SYNDICATE WILL GET
ONLY sS3,21l35O.
SALES MADE AT IjGis FOR GOLD-EsTIMATED
PROFIT TO THE SYNDICATE. ALMOST WITH
STREET SURPRISED AT THE LARGE
AGGREGATE OF BIDS ABOVE
Mr.. MORGAN's FIGURES.

eating s66 7SS $50 above 1l0Gs17 had been received
and the $50 persons making those bids would
receive the bonds The Morgan syndicate bid of
ll06s77 for 800 900 bonds, or any part thereof
would be accepted for the balance Of the SlOOOOO-
90. or for s33 $50. All bids below the figure
1l06s77 are. therefore. rejected
The gold reserve at the close Of business to-day
stood at sl44S31s6. The Withdrawals for the day
at NewYork amounted to s73O,OOO.
The allotment D, the Secretary OF the Treasury
Of only s33, ,211 $50 out OF the total issue OF
800 OOO 900 Of the new Government bonds to the
syndicate composed OF J. p. Morgan & Co.. the
National City Bank. Harvey Fisk Sons and
the Deutsche Bank Of Berlin was great sur
prise 1t had been figured out that they would get
$50 OO0 900 Of the bonds From the bonds awarded
to the Morgan syndicate the Government Will de-
rive not counting accrued interest s36 100 0S79 40,
or premium OF 49, .529 40.
The Government per cent bonds Of the same
class those to be issued sold on the Stock Ex-
change yesterday for 1lG7s "cash"-that is for
immediate delivery and payable in current funds.
At the same time the Morgan syndicate was sell
Ing bonds at llG12 for gold. to be delivered "heh
obtained from the Treasury Department. II the
Morgan syndicate clears on an average 5'2 per
cent on It's bonds its profit will be SlS2b'6Zi 20.
There Is such a demand for the bonds that prac-
tically all the syndicate will have to do will be
T. receive gold from buyers and turn 1t over to
the Government and give the Treasury Depart
nent Instructions 10 forward the bonds. II 1t
does not want 10 do 50 itself
The largest purchasers from the syndicate Will
be savings banks which presented their oIds
through President John A. Stewart, OF the Ihlted
states Trust Company. whose price was lower
than that OF the Morgan syndicate. The Morgan
syndicate will sell bonds cnly to those who VIII
agree not to withdraw gold from the Treasury
t. pay for them
The bonds having been allotted the success
ful bidders may pay FOR them II any time. IL
IL expected that the Morgan syndicate VIII de-
liver or that a large amount Of gold for its
account viii he delivered at the Sub-Treasury
and Assay Onicr to-day. The accrued interest
on each bond for $1,000 amounts up 10 To-Day To
Is 7l93 cents. on Monday it VIII amount 10
gs 63Ol cent? and on Tuesday 10 Sl.0936s. The
Govcrnmen, Will charge up and collect the ac-
cru,d interest. but the holders OF bonds VIII De
reimbursed when they draw their interest on
MAY l. as the interest Will be paid from FEB
ruarv |.
Deposits Of gold a. the Sub-Treasury yester-
dav were Sl75O0O0 of which 81 100000 de-
posted by J. Il. Morgan Co. ana the with
drawals were $3.50 OJO. The premium on gold
was almost nominal and the premium on green
backs had entirely disappeared.
Peter Bennett, Wall Street reporter for THE
Evening Post" bid i090l for Sl,000000 bonds
and borrowed postage stamp from Waldemar
Wuris wall Street reporter FOR The Evening
sun" 10 send on his bid to Washington. Had
he bid III he would have secured bonds lie
could easily have sold his allotment at ll6 and
thereby cleared $4,000 without the Investment
Henry Merriam. Of NJ. ? Wall-st.. who bid
$50 for $50 bond. said he did so out Of
patriotism