New-York tribune., 1896-05-05
BIDS FOR CITY BONDS.
THE NEW 81 PER CENT ISSUE OVERSIZE
scR1BED NEARLY TEN TIMES.

n,op,p,rrry THAT THE LOT WILL GO TO VER-
,rvp co. AT loaOss-THE HIGHEST
OFFER 100 FOR SMALL LOTS
con,ro,,er Fitch yesterday opened nfty-hve DIGS
,r tho aid per cent SOP 81 gold interest bearing
80 ,or which he a second time advertised inc
er., orrsr with the rate OF interest at per cent
n,et practically no response from money
Yesterdays work was far more successiu.
nr,ces offered ranged from par up TO los ana accu
interest for small lots Of 5000 TO sl"V" wv D
o,sre for the whole issue. They came from ope!ei
70 who b'd 1922 1853 and c. Vermiiye @ Co., WIZ
hid was 1O4 os9 with interest. The other p'u7 "e''
as follows . coo 400 Of ,or
Arbucke Brothers lid 1895 for ss25.o0; wv ior
s9ss o. 1o2 81 for 100000 1924 for l5oW loEo! o
sioD Oco: 1920 for 100000: 1oi15 for A""V"' i'No
for $4,000 .., ~, ca
Blake Brothers Co. bid all the way IRON, vi ~
"a 100 10 while LewsOhn Brothers BID for sZV""" ~ ~
.o- ooo ,s 10Sia l07 1854 0 10i1s l0o 1o' anu iV'
u r. s,snwood OF Boston, bid for $lOoVoo at IVA.
and D A. Moran g. Co.'S bids ranged as low as io'oi
Tns New-York Life Insurance Company ~ "ai''eu
q 600 900 Of any kind Of the issue ohe'",e ~
10, 81 TO O26 for them. The Dry DOCK oa''nes 49,
stitu,'ons bid created a laugh, for tnaf
offered par and accrued interest Mai'la"' IA -
a r. hd Tor s,OO coo IN $50 900 lots at 1olA ana oZ''
Noumberv Laucr & Co. wanted 100000 In oocAs =,
foO 600 and two $50 900 lots at 1oo0l ana lVooi' "
l0O0i. s,oooo and
Street .wyckes & Co. bid 10l.b Tor *i""." az"
tho Rank for Savings offered 1923 ana ioi.o' ~
s1ooOo Of the bonds Thomas A. BassioruS D o
for Ssoo 600 was par and interest 1t gov "o ie0Oe
milton from the Controller. Police Cohhi'lsSon'i
Apdreu-s wanted 10000 for the Police fens,o'
Irund at 103 i6 for the 1910 ISSUE lV5'o' io' " -
lo4 is for 1868 and 1851 for 1858. .,.ooo
man in Burlington VT. offered to take s."o
at 100 40 while ex-Surrogate Dahiei W. ~
wanted $1,000 for an estate at lOlD.
tka nh
,,o cortro,ler said Yesterday afternoon that IL
Locked os though vernye co. would get tne
80 ,ssue NJ the figures quoted. IOt0so. All told
h h,,s amounted to 81 0JD almost ten times tne
issre ,
rho ,pcreosed demand for the bonds yesterday
o,,s Inscribed to the rate OF interest having Deen
raised from 8 10 3ih per cent AT the per Vo','
rate there was sold last month sl15cO OF the Guy
bonds and stocks The lack or Dds was '''e"
ascrbed to a tight money market
Controller Fitch was asked for his opinion as "
-. ,,ocoss n, the sale He replied that the prices
do,uonstrated first, that the proposed creation OF
Greater New-York had not injured the citys cred''
and second that there is plenty OF money 'eauy u,
to be lent y We deserve II, "r interest rom year
:" wear Mr. Fitch said IT was to De rexres'en
tb, the rate OF interest had 10 be raised from 70
S per cent He hopea paa Hst ssbt '' the city could get
hack to ia old rate OF per cent. AS " Is. nc
added we console ourselves win sne he
that we borrow money at cheaper ra'eS 'i'o'' ''e
generaIy conceded In financial circles that
the credii r,y LOT 70 The Controiicr whose pocy in
Insisting tha, the sale be advertised wney atI
literally had borne abundant oa ,rus ,hs cpoinmns pH
OF papers which reach the class OF investors sous"'
FOR is worthy OF Imitation