The San Francisco call., 1896-02-16
Morgan Pays Full Purchase
Money to Catch Defaulting
Bidders Bonds.
EXCITING SCENES IN NEW YORK
The Sub-Treasury Coinroom Packed
to Suffocation With Eager
Purchasers.

AOd1NNlON, ~. ", FeD. lo.-N ltn
the close of to-day the last day expired in
which the first payment of 20 per cent can
| be made on the new bonds. The total pay
ments as reported to the treasury to date
aggregated $629s9, ,946, or more than so
per cent of the total issue.
The Morgan syndicate paid in all its
purchase money to-day with the object in
view of catching any defaulting bidders
bonds, to which they are entitled under
their blanket bid OF 110. 6S77 for $1O0, ,00o, 900
or any part thereof. How many bidders
defaulted and in what amounts and who
they are, will not be known at the treasury
until Monday or Tuesday next.
The difference in standard time made
the hour at which bidders could pay for
their bonds, reckoning from East to West,
three hours later than New York time at
San Francisco and one hour later at
Chicago and st. Louis.
At the close of business to-day the
treasury gold reserve, with to-day's de-
posits at New York excluded, stood at
ST., ,132, 863. Since January 6, when Secre-
tary Carlisle invited bids for the new bond
issue to date, $27 ,452:854 in gold has been
withdrawn from the treasury. OF this
been withdrawn for export, and the
balance of SIS 900, 900 was withdrawn pre-
sumably to pay for bonds. 1t is stated
from reliable New York advices that the
firm of Zimmerman e. Forshay alone have
withdrawn $5,S51, ,633.
The following official table prepared by
the treasury gives the Withdrawals by days
since January 6, 1896: January 6, $1S1, ,412;
January 7, So, $50, 2S4; January 8. 1853, ,62O; !;
January 8, $276 lis; January 10, 81, ,642, ,7S1 );
January IL, $67, 1888; January 13, $685., ,241; !;
January ii, 81, 300, ,033; January 10, $424, O4O;
January 16, $1Sl ,625; January II. 81, III, 116;
January Is, $6S.510: January 20, $3.50, 226; {;
January 81. $6S7, ,99S; January %, $3.50, ,779 );
January 2S, $275, ,250; January "a, 1928, ,O23;
January %, $S2,9 ,976; January 81, $172. oil;
January %, $142, ,361; January %, $i68, ,O92;
January 80, $249,0o6; January 81, $685., ,645;
February 1, S139, Sic; February 3, 81 ,234,-
985; February 4, 1854, 1856; February 5,
$573, ,4s6; February 6. 81, ,123 442; February
7, $734, 2S4 February 8, $124, ,993; February
10, 50 3S7 ,492; February IL. 1861 1876; Feb
ruary II, $18,700; February 13, 81, 7S5, III;
February IA, $2,603, All; February Is,
! 100000.
The treasury is prepared to deliver the
bonds as rapidly as called for.
NEW YORK, n. Y, Feb. 15.-To-day
was the last day for the first installment
on the new 500, 100000 per cents of 1925
just allotted by the Government. The
Sub-Treasury in consequence was jammed
by bond purchasers and it was almost i'm
possible to get into the coinroom. Assist
ant Treasurer Jordan gave notice at an
early hour that he would close the Sub
Treasury doors at L O'Clock sharp and that
no one would be permitted to enter after
that hour.
Another batch of S4,OO0,0OO Of the new
bonds arrived here to-day, making a total
OF SS,000,000 thus far received. Trans
actions on the board in the bonds were
heavy and one lot of $507 900 sold at 115T
The Hanover National Bank this morn
ing deposited 81 900, 600 on bond account
making the total since February 8, $3S,61S,-
991. Zimmerman & Forshay Withdrew
$1O000O, making the total Withdrawals
from February 8, Sc, ,36S, 300.
A Boston special states that William
Graves of New York yesterday sold his
option to take $4 500, 900 new Governments
| at 1f53391 to the City National Bank for
$50 900.
1t is stated that the deposits of gold at
| the Sub-Treasury and the National Bank
repositories amount to over $50, 900, ,O0O
Premiums on gold to-day were nominally
| u to 4 per cent. Greenbacks were Lie
bid, offered at Is per cent.
When the doors of the Sub-Treasury
were closed at 1 o'clock Assistant Treas
| urer Jordan announced that no new busi-
| ness would be done to-day. He said that
| if 1t was found that any of the bond
bidders had made gold payments not up
! to the amount required, arrangements
would be made for them to complete paw
| ments later on.
1t was announced to-day on high author
ity that Mr.. Morgan's recent visit to Wash
| ington was for the purpose OF consulting
with Secretary Carlisle in regard to de-
faults of bidders. 1t was arranged that
Mr.. Morgan should buy all the bonds not
taken by bidders at the same figure
| Q10.5677) paid by the Morgan syndicate.
The total amount of gold received bv
the Sub-Treasury and the National Bank
repositories on bond account up to /
O'Clock to-day was Sal, ,187, ,321. OF this
amount $3,373 ,931 was turned into the Sub
Treasury to-day.
| William L. Graves, who was awarded
81 ,5o0,O 900 of the bonds at 1851, did not
pay in the 20 per cent installment on
them at the Sub-Treasury, and it is sup
posed he will lose the bonds. He was in
| Washington, to-day. it is said, to ask for
an extension of time.