The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-02-06
LOAN A Big SUCCESS
Enormously 0verSubSCThed and Bids Are
Sill Coming in Large Numbers.
BONDS WILL BRING OVER $IIO, 10, 600
Greater Number of Bidders Present
nt the Opening We're From New
York-ChienGo and Other Western
Cities Represented lids Rangc
From ITO to n Fraction Above II8.

Washington, Feb 5.-Bds for $780,.
100000. thirty year per cent. United
States bands were opened at the Treasu-
ry Department at noon to-day under
the conditions prescribed in the circular
issued january 9th last by Secretary
Carlisle. The principal condition is
that the bonds must be paid for in
gold. For the convenience of the pur-
chaSers the bonds may be paid for in
installmeRtS as follows:
Twenty per cent at the time Of the no
tice Vf acceptance and 10 per cent. at
the end of each fifteen days thereafter
The total number of bids was 41,6i0,
aggregating 1854 ,269,S50, but one bid OF
one hundred million dollars from a
physician in Michigan and one of SIX
teen millions from Texas, are evidently
bogus. Deducting these amounts leaves
the aggregate OF genuine bids $56S 269,-
$50.
AT 3 o'clock 1t was generally under
stood that the whole sl0O 900 900 of bonds
would bring 1l0,Il0,000, and over. The
olllclal average figure at which the
800 1000, 600 Will be awarded will not be
known until tomorrow.
Ihc Dids were cejcned in the room of
Secretary Carlisle an apartment about
40X25 feet. y large table was placed in
the south end of the room overlooking
the Potomac river and the Washington
Monument. at which table sat Secretary
Carlisle, Assistant Secretary Curtis. and
several clerks
In front of the desk were placed a num-
Der OF chairs which We're taken by thpsc
VINO hau come in person TO present bids
ana many were compelled TO stand
hundreds of millions of dollars were
represented. The greater number of
those present as bidders came from New
York, burt there was a sprinklinC ii
nnanciers and bankers from Chicago.
Clncinnati, and other Western cities
ana some from Boston. Baltimore, and
Fhiiadelphia. y large tin box was
placed on the table shortly before -
O'clock containing the bids Upon each
package was marked the date which
the bid was received. Among those
present were:
Mr.. Wormscr, OF Wormscr & Bros. of
New York; l.. 6. Hampton. representing
John y. Stewart, United States Trust
Company; New York; !, representative
OF j. 7. Woodward, of the Hanover Ma
tiohal Bank. of New York: John A. Nc
Cauli and c. c. Baldwin. of the New
aork Life Insurance Company, New
York; Mr. Edmond, of Speyer & CO..
New york; Mr.. Lehrman. of Lehrman
bros., New York: Mr.. Burns. of the
american National Bank New York;
Nlr. redmond, OF Redmond Lloyd & Co,
New York: EX-Reprcsentatiye Hem
dricks, of the National Union Bank. of
New York: Mr. Kept of the Commer-
cral and Farmers Bank of Boston: Mr.
aouiman, OF the Shoe and Leather
Bank OF Boston; Mr.. Graham, of the
Boston Trust Company. Boston. Mass. !:
Mr.. Burnett. of the Investment Corpo-
ration Company, of New York: NIr
Chandler, of Boston; MIR. Plny Fiske.
OF Harvey, Fiske & Co, New York. p G.
Shandler and Mr.. Lawson. of Boston.
Mass: James II. Blair. of Brooklyn. N
M T.. Il -,
tional Bank, of Washington, ID. c.; j.
fierfepont Morgan. of New York
When Secretary Carlisle entered the
room. promptly at noon. he was received
with applause from those present All
was In readiness but the bids. and at
l2:l0 II was announced that l5O adJi
tional bids having been received lust
before noon, it would take half an hour
or more to schedule them.
At 1915 p. M. Comptroller Eckles an
peared at the door with a list of bids
In his hands, and announced the com
mittee appointed by the Secretary TO
open and ta.bulate
Under the immediate charge of Assls-
tant Secretary Curtis. tbe following
committee opened the bids!
James II. Eckles. Comptroller of the
CURRENCY Daniel N. Morgan, United
States Treasurer and A. r. Huntinpton
Chief of the Division of Loans and Cur
rency Of the Secretarys office.
The first bid was received January
18th, Of 5000 at 1lO. The first bids read
out were In small amounts. ranging
from $50 to $1,000 each Among these
was one of $4,000 at ITO. from the Loan
s-nd Savings Bank OF Charlotte, n. c..
at the beginning of the reading. Comp
trolter Eckles announced that the bids
ranged from par to q fraction above one
hundred and nineteen. The Comptroller
read until his voice gave out. when he
was relieved by another member Of the
committee.
The first bid above 10 and the first
10 receive applause was that for half
million dollars by the williamsburg.
N. T., Savings Bank eastern district
or Brooklyn). Most of the bids an
hounced prior to o'clock were those re-
ceived up to yesterday; they were many
IN number, but only half dozen of
100000
The big syndicate bids were not re-
celVcd until this morning and were not
announced until near the close of the
proceedings.
The Treasury Department was SIM
ply overwhelmed by the enormous num-
Der of bids received. With fifteen cy-
pert clerks Mt work scheduling the bids.
at o'clock tonight, they having work
ed necessarily since o'clock this morn
Ing. 1,2oO bids remained unscheduled.