The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-02-06
BOND BIDS ARE OPENED
Much interest Manifested in the
Ceremony.
NOTED CAPITALISTS ON HAND.

The Opening and Scheduling OF tho Bids
Conducted by n Committee Under the
Direction OF Assistant Secretary Of the
Treasury Curtis-substitute for the Gu
ban Resolution Agreed Upon-Pickier's
Pension Biii-washington News.
the treasury Wednesday opened the bids
for the purchase of 800, 0O0, 600 Of United
States per cent. thirty-year bonds, which
had been received under his call. dated
Jan. Il last. The interest manifested far
exceeded THAI attending either Of the 9th
err loans, and as early as 9:3O o'clock
pn,ninent capitalists from New York
and other eastern cities began to put In
an appearance at the treasury. Many OF
them called on Assistant Secretary Cur
tis, who explained To them what arrange
ments had been made for the opening.
The opening and scheduling Of the bids
was conducted under the direction of AS
sistant Secretary Curtis by a committee
consisting OF Mr.. Morgan. United States
treasurer; Mr.. Eckels the comptroller Of
the currency; Mr. Huntington, chief Of
the division Of loans and currency.
Bids Came Rapidly.
All the morning bond bids came In rap
Idly swelling largely the already long
strung out list of bidders, great and small.
Every train and every mail brought list
Of bond bids and at IL o'clock the expecta,
tions of treasury officials were rising and
predictions were made freely that the loan
l,.ae
bonds would bring good price. AT 1880
o'clock the large crowd assembled about
the secretary's door was allowed to enter
and all the available space was soon oc-
cupied.
At 12;l5 p. IN. Mr.. Eckels OF the COM
mittee announced that up to this timo
there had been received 1907 bids, aggre-
eating $3.50. 232, $40, ranging in price from
par TO lIq and fraction. Other bids not
yet opened would probably raise the num-
Der TO 4, 500, aggregating $40, 0oO, 900 moro.
Carlisle Greatly Pleased.
j. p. Morgan Harvey Fisk a. Son and
the Deutsche bank Of Berlin, as a syndi-
cate, subscribed for slOO,ooO,0Oo at
slI0 6s7S. Up TO $40 o'clock 4,640 bids for
$685. 269, $50 had been opened.
The total (corrected) number Of bids re-
ing s55j ,269. $50. This number and amount
do not include three bids of slO0,OOO,OOO
si6, 90, OO0, and S6,0o0,00o, which are at
least of doubtful authenticity. Secretary
Carlisle was greatly pleased at the brill
iantly conspicuous success of the loan,
and said that il showed what the people Of
this country would do when appealed to.
He thought, too, that the effect abroad
would be very marked in our favor.
What the Public Gets.
The public gets s3opO0,0Oo To $40 600, 600
Of the sl0o, 200, 900 popular loan, and the
Pierpont Morgan syndicate secures tho
remainder on bid OF 1l0.6S7S for sl00, ,00U, :
900. Scattering bids were received from
banks and Investors above that figure for
about the sum first mentioned. The
Morgan bid shuts ont the combination
bidding engineered by John Il. Stewart,
Russell Sage, and half dozen trust COM
panies under their leadership. Not less
than sl25 OO0, 900 was bid for by these con.
Germs and their customers at the uniform
price of ll0O75. The net price realized by
the government for the whole issue will
be very close To 32s per cent. The Nor
gan bid is fractionally above that figure
about 7-l6.