The herald., 1896-01-01
Ii.t BOND CONTRACT signed
Ready for Acceptance by the
Government
TWO HUNDRED MILLIONS
is The Aggregate Amount Agreed to Be
Provided
Nll .lready Ordered From England with
hich to Buy the Boncs-prem!um
Offered for Gold
ted Press speci, Wire.


asst edition, says: The contract was
this morning by all the members OF
bond syndicate, subject to the for
cep:ance of the government. The
40 agrees to furnish eleven and
If million ounces of gold, amount
about $2OO,O0O,O00, the govern
take half this sum first and to
ie option of taking the other part
liver 4 per cent thirty-year coin
At about the same price as paid for
issue of bonds. the managers OF
ldicate to receive a commission of
IT. The price at which the last
we're taken was $lO4.49. at which
elded 33@ per cent interest.
same paper says further: The
resting piece of news in financial
toosv-neXt to the report that a
ha ',een signed by j. p. Morgan
~ us lcw government loan-was
ucefaart that Lawson, Wedide-
o. da6 Or ~ed 100000 in gold
iaa, and lat it will leave on
The h.lI mentioned is new
na1hsr of it, when asked for
- of the transactian, would
firm wanted the gold, and
Sere not acting for anyone else,
vas necessary they should procure
d outside the United States. 1t Is
.ood the gold is imported for the
of paying for some of the new
nent bonds to be issued.
ious thing in connection with the
ition of gold by Lawson, Weiden-
Co. is that the bankers who sold
le exchange on which to import the
II have to export gold to cover their
Foreign bankers, however, said no
hat for some time imports and ex-
: gold would occur simultaneously
equence of the unintelligible action
ress and the terms of which snb-
ms to the new government loan
,e received. 1t was reported today
syndicate in the first instance was
by j. p. Morgan Il Co., the City
i bank, the Hanover National bank
erman bank; that Messrs. Morgan
would take $5O,OOO,O0O, the City
mover National banks $25,O00,0QO
& n them and the German house $780,
20. Other banks are to be allowed
cipate at a price in what is virtually
q blind pool, the four members OF the
ate mentioned handling the bonds.
r. proof is received today of the
given by London bankers to claim
n all coupons payable in gold, due
uary l, and remit the gold, or, as in
Eases, retain it subject to order. In
of non-payment in gold, protest
{ is to be made. Many bankers also
I'd similar instructions today from
n banks with regard to coupons of
7nnsylvania Railroad company and
railroad companies falling due on
ry I'd. These banks, some of them
nnsylvania, instructed their agents
remit the gold to them by express.
n dealers today offered "a per cent
UNI for gold, but could obtain none
t price. The lowest offers were made
per cent premium, and at that rate
reign house said it could be imported
rofit.
as announced at noon that the gold
I'd from this city to London on last
esday had been purchased for
led on the same steamer. The price
halfpenny higher than the bank of
nd bid.
FINANCIERING GONE MAD
DON, Dec. 3l.-American bankers in
ity have received advices regarding
nited States loan. The manager of
4, Shipley e. Co. said: "The rate will
bly, he 1O5 in New York and lJS in
IN. We are advised this morning
here would be no trouble placing them
Burnes of Thomas Morgan & Co.
"None of the new issue will be fioated
ldon owing to the strained relations
en- the United States and Great
n. The situation looks graver than
this morning, from a commercial
of view, partly on account of Senator
lan's position. The affair has made
erful difference in business between
IN and New York and will result in
ithdrawal of most OF the American
ties which are thrust upon the mar
me new bonds will probably be
l in Germany, but this has not yet
1ecided. In my opinion, our Ameri-
MAY BE POSTPONED
Dec. 3l.-There were no
today in the matter of a
issue and the opinion now prevails
may be postponed for a number of
yet. The cessation of large with
Ills of gold for export and the fact that
or more orders have been placed for
hipments from abroad are important
s in the question of an early issue.
le other hand the almost daily an
ement from the subtreasury at New
that considerable quaint les are being
rawn in redemption of legal tenders
seem to justify prompt action by the
lent. These redemptions, it is said,
ldoubtedly asked for the purpose of
lulating supply of gold with which
chase bonds when they shall have
placed on the market by the syndi-
nd as they now aggregate consider
more than $5,000,OOO since the
oming issue became a settled fact,
early discontinuance has become a
of the first importance.
can be accomplished, however,
trough the operations of the syndi-
md it is argued therefore that the in
of the government lie in a prompt
ncement of the issue. What will be
suit of these conflicting interests is
,w apparent. The report from New
o the effect that the members of the
indicate have entered into an agree
~ which the government is TO be at
furnished $1O0,QOO.00O gold and
4, at its option, with 500, 900 in
n, cannot be verified at this time.
he general opinion. however, that
raOge.Neut for All additional com
arooun, ~as made alib ,he p-
:" Tie President, @aa. tlF!o.
'lis issue shall be tha last d iAt
oi Office. IL is believed g1r,he iiiet
.,oltion as to the procurement N a
the gold from abroad and mar -,
f Il shal be wiihdr VA from In
'fy are made rarls of the new con
q feEthconains uzoathls .cs.sur.y s;s.,a