New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-01-17
PLEASED WITH THE CHANGES
SATISFACTI OVER THE BOND CALL
NOTIFICATIONS.
WHY THE sun-rnEAsrRY REFUSES TO RECEIVE

WHY THE SUB TREASURY REFUSES TO RECEIVE
GOLD FOR COUNTING AND WEGIiiNG
The modification by the Secretary of the Treasury
OF the terms OF payment for the SloV~Vb oi po'uS
offered by the Government so that the final install
ment % the purchase price will be required Tor
four months after the acceptance Of bids. was le-
ceived with great satisfaction 10y the financial COM
munity. Bankers, however. expressed the nope
that the Secretary would afford further relief to the
money market by allowing the gold paid in for bonds
to be held in banks acting Government de-
postories until the actual possession Of it in the
,asury should become necessary.
President John y. Stewart. OF the United states
Trust Company said: The modification OF the
bond call was the thing needed TO avert undue
siringoncy in money. The loan will be taken by
the public. The more bonds taken outside OF
New-York the better il will be for the country.
think considerable Of the gold be paid for the
bonds viii come from abroad"
Russell Sage said: The mobilization Of the bond
call was what needed to up the financial
situation. BY having four months in which TO pay
for bonds% purchasers can make much better ar
rangemcnts for securing gold Another result VIII
BE- an increase in the amount of gold brought from
the other side think another thing OF advantage
can be done, and that is - make National banks
agents FOR the sale OF the bonds and also de
postores for the gold received for them. This was
done with success after the war. The time has been
and may come again when syndicate will be- found
proper medium for placing Il Government loan,
and N such event the people will indorse the
plan"
The refusal Of the New York Snb-Trcasury TO
accept gold TO be examined. counted and weighed
is not merely because the Government does not de-
sire to provide storage. but because the SubTreas-
uiy force OF employees is particularly busy at this
time with the counting and sorting OF INITIATED
currency turned over IN large quantities Tor re-
demption. Furthermore. there has already been
delivered az the Sub-Treasury 2&"V"p III boid
most of which imported in connection with
the bond issue. and all Of which requires weighing
and examination.
Some gold has been received from the Faclic
Coast and other parts of the West. which l. low
in weight and makes careful scrutiny necessary
the fact that $4,000 chiefly in s. pieces mas pcth
rejected too light. The imported gold Is mostly
in bags OF 800 ounces. and generally the bags con-
tain fragments of gold put in TO make me exact
weight. Another reason why the Treasury l. not
inclined accept indiscriminate deposits IS that
they would facilitate very much the Withdrawn OF
gold from the Treasury and It's sale ~ a premium
Specie and bullion dealers are stu paying pre-
MUM OF One-half OF per cent, ana charging
premium Of seven-ciehthS of ] per cent iol god
The steamship Aier brought fl3.Vn in gold 10
Kuhn. Loeb & Co. and 10000 marks IN soid 10 j.
X w. S"lignaH 4 60.
The First National Bank. OF Paterson. y. j.
being Government repository, announced N"sirr-
day that il would Offer To al its dcpoStoTS ct'"
TO subscribe for the issue of bonds until Fcbru-
airy l. To this end IL will place all tho gold az ia
command at the scTVc" OF d"poSliors VINO WISH 10
take the bonds in any amount. II by that dair All
it VIII Place the balance n the disposal ~ me
Treasury Department. either by becoming Ia'il 4
purchaser Of block Of tn bonds, or by 1'los',
Of gold with the Government