The times. [volume] (Richmond, Va.) 1890-1903, 1896-01-16

can more fully lay the matter before you
and without expressing any commences
i'm such a mods of procedure IN the lace
OF previous failures ot similar attemp,s, ~
sibllity OF decision lies with you, piense
TO you every influence and enort In my
power to assist the Government IN its
endeavor to make success,ui ,sh nesondII shaiI
result in the sale to the treasury OF
1I!copO ounces United States gold com
(S2O0 OOO, ,OOW and further, VIII, SO LAT
as | possibly can, take sucn Steps as w.
enable the syndicate which ! represent
to join In making the negotiation success
fyl TO its full amount.
Awaiting the indication OF your pleas
ure. remain.
~. PlERPONT MORGAN.
ALL OR NONE.
On Monday. January 9Th, the can LOT
public bids for bonds to the extern OF
SlO0,OO0co was issued by the secretary
Of the Treasury. The amount or bonus
thus offered made the syndicate contract
lowing 10 the minimum therein hxed)
available only to bid for all or none.
Il should be unwilling TO make sucn
a bid under present circumstances, as 1
might thus seem TO present for considera-
ton by the Secretary OF the Treasury
the throwing out OF smaller bids made In
good faith under public call
THE only emergency which would justi-
fy such a course would be the failure of
the public TO respond 10 the call OF the
Government. Under these circumstances
| at once decided TO dissolve the syndi-
cate.
1T has. however been necessary to de-
lay this action up TO the present time, as
every financial interest required the pro-
lection afforded by the knowledge that
the syndicate was in existence prepared
70 make the loan success under an
circumstances, but happily this necessity
does not exist any longer.
The subscriptions by individuals and
others, including many OF the syndicate
whom have encouraged 10 subscribe,
from present indications Will insure the
complete success of the issue. | therefore
feel that the time for announcing ne dis,
solution OF the syndicate has arrived, and
an official notice to that effect has been
issued
Il feel perfectly satisfied that there is
no question as 10 the success or the loan.
Il desire TO sustain the Executive 10
the fullest extent I'm his endeavors 10
maintain sound currency and the credit
OF the country, for which every loyal
citizen should hold him In honor.
MY firm will gladA assist any party
desiring to subscribe under the present
call. and will Join with those prepared
to take any amount that may hot oe ue-
sired by smaller investors. ! feel sure
that should IT hereafter appear desirable
to make such a bid. that you VIII gladly
cooperate with them in such action,
Thanking you for the confidence re-
posed in me. for which | shall ever be
grateful. .vsIn' | am tru,v voors
IS PtERPONT MORGAN"
REFUSED TO ACCEPT GOLD.
NEW YORK. Jan. b,-The ia6t that
receipts for gold deposited in tNe sub;
treasury to be examined. we're offered
for sale in Wall street to-day led the
Treasury 10 refuse 20 accept deposit
OF sls0,OO0 by Zimmerman and Forshay.
The firm thereupon telegrsphed TO the
Secretary of the Treasury
I'VE have rendered Sls0.OW in American
gold coin to the sub-treasury here. 1t
refuses TO accept Il. We want e leave
some there for bonds. Must II accept IT
or not2 Please answer quick.
This reply came late in the day,
THE assistant treasurer has no au-
thority to receive the gold mentioned In
your telegram. No subscriber for bonds
should deposit until notified OF the ac-
/ 9th instant, ,,oD,,,r,n
WASHINGTON, ID. G., Jan. 15.-Secre-
tary Carlisle tonight issued the following
circular regarding the subscription TO :
per cent. bonds.
Treasury Department.
Office OF the Secretary.
washington, ID. c., Jan. II. 1896.
Treasury circular (No. 4. ls9dl dated
January o. 1896. inviting proposals Tor
the purchase OF one hundred million doll
lars Slh,fp,vpuf OF lnlted states 4 per
cent bonds is hereby so modified that,
after the payment OF the first instalment
OF % per cent with accrued interest. as
redure-l i'm said circular, the remainder
OF the amounts bid may be paid in In
stalments OF 10 per cent each and ac-
crued interest, AZ the end OF each iifteen
days thereafter. but all accepted bidders
may pay the whole amount or their blds
AT the time OF the first instalment and all
accepted bidders who have paid all In
stalments previously maturing may pay
the whole amount OF their bids at any
time not later than the maturity OF the
last instaiment
Accepted bidders who pay the whole
amount at the time OF the first install
mant OF at any date thereafter, as above
provided. will be entitled 10 receive at the
date Of the payment the whole amount OF
bonds awarded 20 them. and accepted
bidders who pay By instalments viii be
entitled TO receive at the dates OF such
payments the amounts Of bonds paid Tor.
(Signed y. q. CARLlSLE,
"gacretarV of the Treasury"