The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-01
The New York Syndicate, However,
nish S2OO,OGO, 900 i'm Gold.
TERMS OF THE CONTRACT
800, 900, 900 TO BE PAID At ONCE AND
THE BALANCE LATER ON.
for Allotment .R Bonds
Received by j. p. Morgan & Co..
Germans to Have Part of the Issue.

WASHINGTON, Dec. 31.-There were no
new developments to-day in the matter OF a
new bond issue, and the opinion now pre-
walls that it may be postponed for a num-
ber 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 shipments from abroad. are i'm
portant factors in the question of an early
issue On the other hand. the almost daily
announcement from the subtreasury at New
York that considerable quantities are being
Withdrawn in redemption of legal tenders
would seem to justify prompt action on the
part of the President. These redemptions.
it is said, are undoubtedly asked for the
purpose OF accommodating supply of gold
with which to purchase bonds when they
shall have been placed on the market by the
syndicate, and as they now aggregate con-
siderably more than s5,00O,O0o since the
forthcoming issue became a settled fact,
their early discontinuance has become a
matter of the first Importance. This can be
accomplished, however, only through the
operations of the syndicate, and 1t is ar
gued, therefore, that the interest of the
government lies in prompt announcement
of the issue. What will be the result of
these conflicting interests is not now ap-
parent.
The report from New York to the effect
that the members of the new syndicate have
entered into an agreement by which the
government is to be at once furnished with
$lOO,O0OOO0 in gold, and later on, at its option,
with sl0c, 900 in addition, cannot be veri-
fled at this time. 1t is the general opinion,
however, that this arrangement for an addi-
tional contingent amount was made with
the approval of the President who is anx-
ious that this issue shall be the last during
his term of office. 1t is believed, further,
that the condition as to the procurement
OF part Of the gold from abroad, and that
no part OF it shall be withdrawn from the
treasury, are made parts of the new con-
tract.
The forthcoming monthly treasury state
ment will show an excess of receipts over
expenditures for the month of December
of about S5i2 900. which is a gain over
November of about s., 100000. The heavy
payments on account of interest, pension
and Pacific bond redemptions during jan
uary are expected to result in large deficit
for that month. The deficit for the present
fiscal year ending June 80 1895, is expected
to be, approximately, $l7,0Oo,Ooo. These fig
ures, however, are based ON the assumption
that the receipts from customs will ateri-
ally increase during the next three months,
as is usually the case. The receipts from
internal revenue sources, it's thought, have
now about reached the normal, and hence
no material change for the better is ex-
pected except through the customs.
The treasury to-day lost S5O00Oe in gold
for export and $4,000 by the redemption of
legal tenders. leaving the true amount of
the gold reserve at the close of business to-
day $50, ,566,14