New-York tribune., 1896-02-06

If the average price recclNeu DJ tH' P''N'""'''N
for the bonds Is 11lik. the first nstalment Of 20
per cent to be paid for them will be. In round
numbers. 1922 900 a force of extra clerks has
been engaged to handle the gold paid in at the
New-York Sub-Treasury.
BANK PRESIDENTS GRATIFIED.
THE FAVORABLE EFFECT or THE LARGE lSS'h
WILL. BE FELT THROUGHOUT TIE ENTIRE
COUNTRY AND ABROAD As WEiI-No
USE FOR THE PEssMlsT now.
The following are among the views expressed
yesterday by bank presidents and other men IN
terested in financial operations:
James Stillman president Of the National CITY
Bank:
The success Of the bond issue is most gratifying
issue would be taken nobody looked for such an I'M
mense subscription The favorable effect OF the
not not only at home. but abroad and It will be re-
hected in new foreign demand ior Aner,Gan ca.
country.
James T. woodward president of the Hanover
National Bank:
The loan Is a splendid success. and had it not been
FOR the enemies Of TIE country in cSngress Sgbc tho the
resuli of the loan viii be fe in every quarter OF
Europe. and ii shows that the people OF hs country
awarded several millions Of the bonds We did
not join syndicate.
w W sherman. president Of the National Bank
OF Commerce:
The success of the bond issue Will not affect the
credit OF this country. The credit Of the country
viii be good unul Congress dgiines WI, what me
promises Of The Government are There VII nc.sr t
be real stability. confidence and prosperity unth
this matter is satisfactorily settled
40 DIFFICULTY WITH THE MONEY MARKET.
Henry w Cannon. president of the Chase
National Bank
The great success Of The loan sh2ali Completely pie N
g)ol as that = any nation IN tqe w0rd H MmnS nnS
many bidders viii be dsapponsd 1t WIZ ee Inuca ~
hlndle the issue than II the bonds had been awarlsl
there should be any difficulty with the money mar
ket under the circumstances.
Dumont Clarke. president Of the American
Exchange National Bank.
the "a sstounding resources and wealth o. the United
states II il certain that from this time r2rward
feet abroad VIII be highly beneficial.
+. D. Randolph. president Of the Continental
National Bank:
II there is any virtue in the proverb that money
talks IL viii be oxemphei in the enormous sue
of the bond issue 1t has demon INC traI'd ~ hoW y
silver friends in the senate.
A. b. Hepburn. president of the Third Ma
tiona Bank:
am surprised at the excn, Of the bids and some.
what At IN He y T's sracaSn G ia T Thc Ssn Of O The
loan must have a good eject on the @ @ereum an, an
n, 6GnfSg nnncia oi M and cSmmcrcal pride 10 bring N
fu nee - bear Congress 10 perfect the best cur
rency IN the world
THE EFFECT BENEFICIAL.
r. NJ Galloway. president of the Merchants
National Bank:
Tho result Of the IS astonishing, and the effect
must be correspondingly beneficial
90 bo
National Bank:
The subscriptions to the loan are beyond all ex-
peciations The credit OF the Government Is i'm
measurably enhanced
Warner Van Norden, president Of the National
Bank Of North America:
The loan Is a brilliant success. The Subscriptions
exceeded all expectations The effect abroad VIII De
lated There are however. still many difficulties TO
be overcome Ia the currency and III treasury con-
ditons.
Frederick D. Tappen president of the Gaatin
National Bank:
The good effect Of the will be felt all the
world. 1t will show that this country has nor only
the courage to take It's own securities but that 1t
PUBLIC SUBSCRIPTION ASSURED NOW.
George Rutledge Gibson:
Since tho loan is success. and since the prices
are higher than would have been obtained by pr-
vaie contract, the of the public subscription
method in the next ISSUE unhappiy shall have
thcr issue viii be necessary for the maintenance
of gold payments II the House tariff bill becomes
a law The issue of a coast defence loan. payable
in legal tenders is OF the possibilities Of the near
future bat think before Il H. voted tn"
will blow away and Congress will be reluctant TO
further increase our public debt ! know that IN
banking circles is said that those who did not get
any bonds at this sale will soon have a chance TO get
in on the next issue. Those who have advocated
the sale of these bonds by public subscription IN
stead OF by private contract Will felicitate them
sci wisdom.
we think that the six or seven millions saved to the
country In the embargo placed on business by the
thirty days wait for the result of this loan One
OF the first effects of this loan VIII be to ease the
money market Many banks and bankers who have
had their bids for bonds refused were prepared to
have them accepted. The funds thus provided by
the banks. well the extra reserves held for
possible successful subscriptions by their depositors
hence we consider break in interest rates as al
most certain The extremely low rate Of interest
ment bonds ner" for three months at i per cent per
annum, will surely lead TO the transfer Of some OF
them thither as collateral and probably sales will be
made abroad at retail, of bonds there held against
loans
Henry Clews:
The immense uprising Of the American people
to-day in bidding for the United States bond loan
Of the United States Senators In weighing down all
necessary legislation simply as hod-up for the
Yer scheme The majority of the people who sub
scribed for the bonds did It to sustain the Govern
mcnt credit against the attack Of the United
States Senate The result OF the bond success will be
TO lay the silver Senators and eventually send
them to their political graves. The passage of the
silver bill through the Senate Just on the eve OF
the bond sale. was the most audacious and vicious
legislative act ever put on record Ii was simply
monstrous. The effect of so brilliant success OF
the loan will be magnetic both at home and abroad
1t insures the high credit for the Government on
the basis of the worlds best money. Ii Will give
confidence to everybody in trade circles. 1t Will be
the signal for new vigorous departure with every
body connected with business enterprise. and re-
turn to prosperity in every channel OF business
must inevitably be the result. Ii will change the
competition in the stock market 10 the buying side
I'm place Of as heretofore. the selling side This will
especially apply to Europe We are In for bull
movement OF important dimensions and for pro-
longed period Washington legislators have now
done their worst and Will not be feared hereafter
IT, therefore, will be Of little consequence what