Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-01-16
THE BOND ClRCULA r
A Modification Of the Original Terms by
Secretary Carlisle
The Success of the Loan Assured
What is Said of the DtssOlu-
ton of the Syndicate.

The Secretary OF the Treasury has issued
circular modifying the conditions Tor
payment on the advertised bond issue as
follows:
Treasury circular CNo. g. 1867 dated
January g. 1896, inviting proposals for the
purchase of one hundred million dollars
($1OO OOO,0OW Of United States per cent
bonds is hereby SO modified that after the
payment of the first installment of 70 per
cent, with accrued interest, as required
in said circular, the remainder OF the
amounts bid may be paid in installments
of 10 cents each and accrued interest, at
the end of each fifteen days thereafter
but all accepted bidders may pay the whole
amount of their bids at the time of the
first installment, and all accepted bidders
who have paid all installments previously
maturing may pay the whole amount OF
their bids at any time not later than the
ma turity of the last installment
Accepted bidders who pay the whole
amount at the first installment or at any
date thereafter. as above provided, Will
be entitled to receive, at the date OF the
payment the whole amount of bonds award
ed to them, and accepted bidders who pay
by installments will be entitled to receive
at the dates Of such payments the amount
of bonds paid for
Secretary Carlisle, in speaking of the
dissolution of the syndicate yesterday, said
he could be quoted as saying that the sue
cess OF the loan was assured Further
than this he declined to make any state
ment.
Feeling at the Capitol.
The general feeling in, Congress is that
the dissolution of the bond syndicate in
New York does not greatly affect the sit
uation. The idea is that it frees consider
BILE gold. which will be offered for bonds
in smaller volume which might otherwise
be tied Up with a condition that the whole
amount of bonds should go to the syndicate.
1t is believed that the individual members
of the syndicate will put in their bids, and
In most instances get the bonds they bid
for.
If all the bonds should thus go to ex-1nem-
bers of the syndicate. it would probably not
excite so much criticism as it would If the
assignment was made on syndicate bid
Mr.. MOrsnn's Language Criticised.
The announcement of the dissolution was
received here with some surprise, although
| among officials conversant with the
changed situation other course has
seemed open to Mr.. Morgan and his asso-
| ciates. The reason given for the dissolu-
ton is accepted as the true one.
| The only criticism SO far heard of Mr..
| Morgan's public statement is that his as
| sertion that he was invited to Washington
| for conference is misleading, as the
| natural inference is that this invitation
came from the President, or, by his sane
ton, from some member of the cabinet.
| This. 1t is said, is not the fact. When Mr.
| Morgan came to Washington the President
| declined to see him, nor, it is added, did
| he confer with any member of the cabinet
| at the Presidents suggestion.
| Success Assured.
1t is stated on high authority that the
| President and Secretary Carlisle have re-
| ceived such assurances from large number
| of prominent bankers throughout the coun.
| try that there cannot be doubt as to TIE
| loan being an assured success.
| The only serious question involved in the
| situation, it is said, is from what source are
the bond purchasers to obtain their gold
| and, If from the hanks, will not the banks
| eventually recoup their reserve holdings by
Withdrawals from the treasury?