Bellows Falls times. [volume] (Bellows Falls, Vt.) 1856-1965, 1896-01-01
IN GOLD
Win Be Furnished at Same Price as
For Last Bond Issue.
CONTRACT REPORTED AS SIGNED
But Nothing Definite Is Learned
at Washington.

WASHINGTON, Jan, IA dispatch from
New York says that a contract was signed
yesterday by all the members of the new
bond syndicate subject to the formal ac
ceptance of the government.
The syndicate agree to furnish IL 800, 000
ounces of gold, amounting to about $780,,
100000 gold, the government to take one
half of this sum first and to have tho
option of taking the other half, and to de-
liyer4 per cent 30 year coin bonds at about
the same price as paid for the last issue of
bonds; the managers of the syndicate to
receive II commission of per cent.
The dispatch further says: The most
interesting piece of news in financial cir
cles (next to the report that u contract
had been signed by j. p. Morgan 81 Co.
for new government loan was the an
nouncement that Lawson, Weidenfeld &;
Co. had offered $500, 900 in gold from Lon.
and that 1t will leave on Saturday. 1t is
understood that the gold is imported for
the purpose of paying for some of the new
government bonds to be issued
Every one down town when questioned
about bond Issue professed absolute ig-
norance on the subject, but on every hand
1t was said that when a new loan is made,
one of the stipulations with subscribers to
whom bonds are allotted will be that part
of the gold to be received in payment
therefor must come from abroad, and an.
other will be that none of the gold so re.
ceived has been taken from the United
States treasury for the purpose. A curious
thing in connection with the importation
of gold by lawson, Weidenfeld & Co. is
hat hur Wv, solo l,n, al,
on which to import the gold will have to
export gold to cover their bills.
Syndicate Subscriptions Closed.
1t was reported that j. p Morgan 81
Go. did not receive any subscriptions to the
government bond syndicate after O'clock
because the applications had amounted
to $3.50, 900, 900 ut that time
| 1t was also reported that the syndicate
in the first instance was made up by j. P
Morgan & Co., the City National bank
the Hanover National bank and German
/ bank; that Messrs. Morgan & Co would
take $4,000, $500, the City and Hanover
4 National banks S25, 100000 between them
i and the German house S25, 100000 Other
/ banks and institutions are to be allowed
to participate at Il price in what is virtually
to be a blind pool, the four members Oh
4
4 bonds.
Further proof was received of the or.
ders given by London bankers to claim
gold for all coupons payable in gold dua
on Jan. /, and remit the gold, or, as in
some cases, retain it subject to order In
event of non-payment in gold, protest
thereof is to be made. Many bankers also
received similar Instructions from nterio,
banks with regard to coupons of the Penn.
sylvania Railroad company and other
! companies falling due on Jan. 2 These
banks, some Of them in PENNSYLVANIA, in.
structed their agents here to remit the
/ gold to them by express
4 Bullion dealers yesterday bid "a cent
/ premium for gold, but could obtain nona
1 at that price. The lowest offers made
We're at III cents premium, and at that
1 rate one foreign house said it could be inn
/ ported at il profit. 1t was announced at
noon that the gold shipped from this city
4 to London today had been purchased for
| American account in London and would
4 be returned on the same steamer The
/ price paid was half penny an ounce higher
than the Bank of England's bid
There Are No New Developments
/ in Washington in the matter Of new
/ bond issue, and the opinion now prevails
/ that it may be postponed for a number OF
days yet.
The cessation of large Withdrawals OF
| gold for export and the fact that one or
more orders have been placed for gold ship
ments from abroad are important factors
| In the question of an early issue.
4 On the other hand, the almost daily an
nouncement from the sub-treasury at
I New York that considerable quantities are
4 being Withdrawn in redemption of legal
tenders would seem to justify prompt &C.
ton on the part of the president These
redemptions, it is said, are undoubtedly
4 asked for for the purpose of accommodating
| supply of gold with which to purchase
I bonds when they shall have been placed
4 on the market by the syndicate, and as
/ they now aggregate considerably moro
i than S5,0o0,000 since the forthcoming is
! sue became q settled fact, their early dis
+ continuance has become matter of the
first Importance.
4 This can be accomplished, however,
only through the operations of the syndi-
! cate, and it is argued, therefore, that the
/ interests of the government lie in a
prompt announcement of the issue. What
i would be the result of these conflicting in
terests is not now apparent.
! The report from New York to the effect
that the members of the new syndicate
1 have entered into an arrangement by
which the government is to be at once
furnished with 500, 100000 in gold. and
later ON, at its option, with 100000, 900 in
addition, cannot be verified at this time.
1t is the general opinion, however, that
this arrangement for an additional con.
tingent amount was made with the ap-
J prevail of the president, who is anxious
that this issue shall be the last during his
! term of office. 1t is believed further that
the conditions as to the procurement of "a
part of the gold from abroad and that no
I part of it shall be withdrawn from the
4 treasury are made parts of the new con-
tract.
The forthcoming monthly treasury
statement will show an excess of RECIPES
over expenditures for the month of De-
cember of about S542, 900, which is gain
over November of about 81, 800, 600 The
heavy payments on account of interest
pensions and Pacific bond redemptions
during January are expected to result in
/ large deficit for that month. The deficit
for the present fiscal year ending June 80
1896 is expected to be approximately ST.
7 0O0.000
/ These figures, however, are based upon
the assumption that the receipts from
+ customs will materially increase during