The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-02-07
Those Who Supply Gold From
Abroad to Be Given
First Choice.
FINAL STEPS IN THE LOAN
Morgan and His Syndicate May Yet
Get the Lions Share of the
New Issue.

WASHINGTON, D. c., Feb. 6.-Fifteen
or twenty of the most expert clerks in the
Treasury Department were to-day working
on the tabulation of the enormous mass of
bond bids. The most sanguine scarcely
expects to complete the labor before
Wednesday next. Until the tabulation is
completed no definite announcement can
be issued to the bidders as to whether
their bids have been accepted or not.
There is a well-defined opinion, how
ever, that beginning with the solitary bid
der from impoverished Newfoundland,
who offered his boarded gold for
$50 of the 4-per-cent twenty-nine-year
bonds of the United States down to
the level laid by the Morgan syndicate
at 110.6S77 all bids will be accepted.
Everything under that figure will be
thrown aside. But it must be remem-
bered that the Secretary has the right of
rejecting any and all bids, and the further
intimation is given out that, other things
being equal, preference will be given TO
those who propose to bring their gold from
abroad.
Morgan, having associated with him one
OF the strongest financial institutions in
Germany, and having himself an interest
IN powerful banking institutions abroad,
may be able to give such assurances as to
the importation of gold as will increase the
percentage of his bid, if it Is accepted.
Morgan himself, as stated in yesterdays
dispatches, thought there was only forty
millions ahead of him. The full list shows
that if all the bids received are bona fide
there may be twenty or thirty millions
more. 1t will be, of course, discretionary
with the Secretary to accept say fifty mil
lions of the Morgan syndicate bid on con-
dition that the gold, or the greater part of
it, be brought from abroad, and to parti-
ton the remaining fifty millions among
the most eligible bidders at Ill and up
ward.
Secretary Carlisle has not so far given
any indication as to his purpose.
By working day and night with expert
accountants, Assistant Secretary Curtis
hopes to be able to announce tomorrow
the names of those who were the success
Jul bidders at the bond opening on Wednes-
day.
The treasury has already on hand ready
for delivery 100000 registered bonds
and so, 000, 600 cou pom bonds. Practically
all of the bonds have been printed and will
be ready for distribution in ample time.
Already steps have been taken to afford
successful bidders an opportunity to pay
for their bonds. The following circular
letter directed to United States Treasurer
Morgan, copies of which were also for
warded to the nine assistant treasurers,
was signed by Assistant Secretary Wike
late this afternoon:
TREASURY DEPARTMENT, February 8, 1896.
AS soon es practicable the department will
furnish you list of accepted bidders for the 4
per cent bonds OF 1925, offered to the public
by the circulars of January 6, and 10, 1896.
The list will contain the name of each bidder
with the address, the amount OF each bid, the
price, and the date of the Secretary's accept
ance. You will receive payment for the bonds
in United States gold coin or gold certificates
by installments or in full, as provided in the
circulars above mentioned. Each payment or
an installnent should include the principal,
premium at the price named in the bid and
accrued interest from February i, 1896, to
date OF such payment, so that the proportion
ate amount of the bonds representing the in
stallment will be paid for in full. You will
issue for each payment your certificate of de-
post in duplicate, in the name of the de-
positor on account OF purchase of 4 per cent
bonds OF 1925. stating on the face of such GER
premium and accrued interest received, and
also state thereon the number of the install
meEt when not in full.
You will deliver the duplicate to the depos-
itor with instructions to retain the duplicate
and TO forward the original TO the Secretary of
the Treasury, accompanied by a letter from
the depositor giving complete information as
10 the kind and denomination of the bonds
desired and the place OF their delivery.
The bonds will be issued only un0D raoaip}
by the Secretary of the original certificate OF
deposit. Any depositor may assign the orig.
3nal certificate issued in his name, IN which
case the bonds will be issued upon the order
of the assignee. If it should be deemed ad.
visable to postpone the receipt of deposits on
this account beyond the dates fixed in the
circulars special instructions by telegram or
letter will be given you.
The department will begin the delivery oil
both registered and coupon bonds as soon as
certificates OF deposit therefor are received by
the Secretary as above indicated.