The morning times., 1896-01-16
BOND OUTLOOK IS BRIGHT
Prospect for Loan Improved by
Synd Gates Dissolution.
WHAT CoNGRESSMEN THINK
No Sorrow Expressed Because of j.
Plerpom Mcrgan'9 Adt dtion-com-
bination of New York Bankers Not
Thought to Be Necessary to the
Prosperity ofthe Nations Finances.

The action OF j. Pierpopt Morgan in dis
solving the bond syndicate aroused little
attention in the Senate.
This action had been discounted and
members OF the Finance Committee de-
ciined to discuss the question: While not
talking for publications, two or three of
the leading members stated their belief
that the dissolution OF the syndicate meant
that the members forming IL intended to
bid separately for bonds, ON the whole
the outlook for the popular loan was, per
haps, brighter than it was WREN the syndi
cate was In existence.
Considerable comment was caused among
members of the Ways and Means nd Bank
Ing Committees or the House. Mr.. Payne.
Rep, New York, the second member on
the Committee on Ways and Means, said
he had been satisfied from the first that
a popular loan would be u success.
= believe the loan would have been
taken by the people last February" con-
tinued Mr.. Payne. land the government
been saved 100000. i am glad the
Democratic administration has come to
this conclusion"
CHANCE FOR PATRIOTISM
Mr.. McMiliin, Dem, Tennessee, aiso a
member OF the Committee on Ways and
Means, said: The biggest thing In the
United States, or course, is the patriotism
of the people. And 1t is evident that no
combination OF bankers il absolutely es
sentiIl to the success of the United states
in obtaining the money We need
Mr.. Walker Rep. Massachusetts, said the
Morgan correspondence brought to light a
condition OF things which The shrewdest
fiDanciers in this country believed existed
so far as placing the loan by a syndicate
was concerned. While the loan would un-
doubtedly he a success. 1t would be taken
by large moneyed institutions rather than
by individuals.
Mr.. Dalzell, Rep, Pennsylvania, said the
popular sentiment favored the borrowing
of money for the needs OF the government
from our own people.
Mr.. GrosveDor, Rep, Ohio, expressed his
opinion that IL was wei for the country that
tnesyDdicate had retired. The Republicans
of the House aimed a blow at syndicate bond
buying when they passed the bond bill.
The sentiments of the country reached the
administration through that legislation,
and the sentiment was needed.
LOOKS FOR SUCCESS.
Mr.. Catchings, Dem, Miss, said he was
glad to hear the news. He was satisfied,
he said, that every indication now pointed
to the success of the loan beyond all per-
adventure.
Representative Sorg of Ohio had told him
that the banks in Ohio would take from
$4,000 to 100000 apiece.
McsSrs. DoCkery and Tarsney. Dems-,
Missouri, united in expressing the opinion
that while the syndicate might be dissolved.
the Individual members would not go out
OF the business, but that their gold would
be offered for the bonds.
Mr. Cousins, Rep, Iowa. said: MIR Nor
gan announcement OF tine dissolution OF the
gold syndicate seems to be regarded an
indication OF the certain success OF the So
called popular Loan" Ir any motives OF
patriotism inspired the organization OF the
syndicate for the purpose OF sustaining the |
nations credit, we can respect its memory |
for the sake of those motives"
Mr. Steele, Rep, indiana, said he was |
in favor or IA popular loan, rad always been !
EX-Speaker Crisp said he was without |
knowledge to speak of the reasons for the !
dissolution OF The syndicate. bu, he was |
glad la learn that the popular loan was !
destined Ia be a success
MIR. Cannon, KEEP, Illinois, chairman OF |
The committee on Appropriations: II have
only to say that am glad TO know pop
ular loan is going 10 succeed
BOND CIRCULAR MODIFIED.
Secretary Carlisle last night issued the
following additional circular regarding the
TO 4 per cent bonus:
Treasury Circular, tNo.-3, / $780, dated
6. 1896, inviting proposals for the
purchase OF one hundred million dollars |
I $780, 900, ,U0Ul of United States 4 per cent
bonds. is hereby SO modified mat. after the
payment of the first installinent OF 20 per
cent with accrued interest, rs required in
said circular, the remainder of the amounts
bid may be paid in Instruments OF 10
cent each ana accrued interest. at the |
end OF each fifteen da Us thereafter. but all r
accepted bidders ma Y pay the whole amount
of their bids at the time OF the first 1n-
stallment. ana all accepted bidders who |
ing. may pay the whole amount OF their
bios II any time not later than the maturity
OF the last instailment. !
Accepted bidders who pay the whole
amount at the first installmcnt or ut any
date thereafter, as above proy;dcd. viii
be entitled to receive, at the date of the |
payment the whole amount OF bonds award
ed to them, and accepted bidders who pay
by nStallmeuts viii be entitled to receive
at the dates OF such payments the amount
of bonds paid for