New-York tribune., 1896-01-15
MORE THAN ENOUGH APPLICATIONS
MP MORGAN TO GIVE NOTICE OF THE sfNi'-
GATES DISSOLUTION WHEN 1T sEhMS
ADVISABLE.


..,, , ,,o a,ssolu,ion Of the bond syndicate viii
80 c,yc, bv ! Picrpont Morgan when. as already
,.,,.,,..l {, seems advisable to him 10 90 50. lie
Will he decided IN ,hc matter by circumstances lie
sal yastorlay: THE syndicate Will not be dissolved
until u appears advisable TO dissolve H. "he'ner
a. be 20 morrow next day, next week or next H'oh'"
y,ho, the members 81 the syndicate may do In the
,.,, n, i,s dissolution I cannot say. The matter
,as nm, in the right way In what ! said In The
Tribune OF sunday.
The remarks 10y Nh. Morgan In 1he tribune o
last Sunday have gone not only from one ''' Va
,h Tinted states 20 the other but likewise all over
rurone and Ananclers agree that they have done
more 10 insure the success OF the new GOVERNMENT
loan than anythlng else that has yet occurred
W., 30 s,t1 that ne was bound TO see the loan
made "A success II meant that he wou.d see TO II
that An abundance OF bids for the oondS pe put III
by his firm and by concerns having r''"''o"S WIN
his firm
As A fact Mr. Morgan IS satisfied, as ne mas ''l'
hr,,rs ,.r,b vcho,n he has talked that there VIII
b. more hnn enough applications for the bonds from
lnl!vllual bidders. at prices acceptable 70 '"c sec
rearv Of the Treasury. 10 absorb the entire issue o
sloopoUo When the syndicate Is dissolved me
,c,,h.rs ,vlu ~. left free to send in bids on their
own account 40 second syndicate VIII be iorihr'
70 BID for bonds The syndicate idea ia 10 be
drouped altogether according to present Intentions
IN order that the bond sale may be whoIy III 'H'
nature Of p popular loan. No DOUBT many sH'"
combinations will be II ade up by banks and bank
Inc firms 10 handle collectively the applications of
their customers but that will be .or the purpose OF
facilitating the handling OF the bonds after they
are awarded.
The Information from Washington that the Secre-
tary Of The Treasury does not intend to modify Inc
terms of the bond call. dated January .. because IL
might invalidate bids already sent In, but that ne
will use his discretion In extending the time for pay
ncnts after the first one Is taken to Indicate that
the Secretary has decided upon the adoption OF
measures calculated to prevent stringency In the
money market which would result from the with
drawa Of 10000 600 from circulation In twenty days
and 100000 600 In forty days a. proposed IN the bond
call 1t Is believed that after the initial payment or
Der the Secretary VIII allow thc otnrr pa! -
monts TO be spread over a period OF three months
,-,.,,. ,Ae. ~
Secretary will let the gold paid for the bonds be
deposited In banks acting as Government deposito-
ries and let II he held by these banks In their re-
serves for an indefinite time. Ia TINS way there
would be no particular disturbance OF the money
market The Secretary must realize IN" necessity
of avoiding a large contraction OF the curr,ncy Tor
ne has been flooded with letters from New fcrk
ba mixers pointing the danger Of the situation Al
ready the calling loans to provide funds for the
purchase OF bonds has born" heavily upon business
interests. 10000 ,
There was a withdrawal yesterday OF S.lOWO In
gold bars from the Assay Office by lazarl freres
for shipment to Europe by the Paris which sails to-
day The specie dealers paid a premium oi one-hali
OF on. per cent for gold and charged buyers seven
eighths There was a slightly smaller premium on
greenbacks. which good for gold when presented
10 the Treasury