The daily morning journal and courier., 1896-02-06
BIDS FOE THE NEw 1oAN.

w aShlnStOn, EeD. 0.-Ine secretary or the treasury began opening bids for the purchase of the $1Oo ,000, ,O0O issue Of United States 4 per cent. thirty year bonds, received under the call issued on January G. at noon to-day,
 As early as 9:S0 o'clock prominent capitalists from New York an,l other eastern cities began to rut in an ap- perance at the treasury. Many of them called on Assitant Secretary Curtis, who explained to them what arrange ments had been made for the opening. Among those who arrived up to Il o'clock were William H. Coombs, pres ident of the Manufacturers Trust conn pany Of Brooklyn; MT. Graham of the International Trust company of Boston, MT. Hendrix, president of the National Union bank of New York; MT. Toulmin, vice president of the Hide and Leather bank of Boston, MT. Redmond, of Red mend. Kerr x Co., security dealers of New York; MT. Burns of the American Exchange National bank of New York, and MT. Lehman, of Lehman Brothers, New York; John A. Mccall of the New York Life Insurance company; L. C.. Hampton, representing John A. Stew art; Mir. Wormser, c. c. Baldwin, and MT. Erdmann, of Speyer &, Co.,, Mr. Iawes, cashier of the Hanover Nation al bank, and James R. Blair of New York, and ex-Collector Magone of Og- densburg. N. Y.
 The opening and scheduling of the bids was conducted, under the direction of Assistant Secretary Curtis, by com mittee consisting of United States Treasurer Morgan. MT. Eckels, the comptroller of the currency, and MT. Huntington, the chief of the division of loans and currency. Secretary Car lisle entered the room punctually at 12 o'clock.
 At 1915 D. m. Mir Eckels of the com mittee announced that up to that time there had been received 3,707 binds ag- gregating S3s0,2S 300, ranging in price from par to 119 and fraction. Other bids not yet opened would probably raise the number to 4,500, aggregating $7J,000,000 more.
 The syndicate bids were not received until this morning, and the result was that it was impossible at l o'clock to give their amounts or prices, the force of the treasury clerks being engaged in the work of tabulating the vast number of bids received prior to to-day. These earlier bidders, with the exception of Robert T.. Glendenning, Philadelphia, S50o,Oo0 at 112.75; Albert l.. Judson, $500,000, at 1875; all bids for amounts below half a millionfi the amounts rang ing from $50 900 to about $300000 The treasury tabulated the bids according to the price offered.
 There were 154 bids, aggregating $3,- S60, ,450 at 110; S4 binds, aggregating $9SS,30 at 102992; 5S bids aggregating $1,269,74 at HOBO The Hanover Ma tional bank bid for S1,000,0 900 at 1O9.95; the same at 110299 the same at 110.52, the same at 110.S75
 J. P. Morgan, Harvey Fisk & Son, and the Deutscher Bank of Berlin, as a syndicate bid for s1O0, ,000, 900 of bonds at 110.6S7S.
 MT. Eckels announced during the reading that bid for $10, 900, GOO from q doctor in Michigan and $16,000 000 from some one in Texas were bogus bids, and that the total shouid'be reduced by that amount.
 When the reading was finished it was annuonced that the number of bona fide bids received for the new loan was 4,640, aggregating s55S269. $50 Secreta- ry Carlisle was greatly pleased at the brilliantly conspicuous success of the loan, and said that it showed what the .e !, ie ,t,.,r I1 appealed to. He thought, too, that the effect abroad would be very marked in our savor
 The bonds for which the bids are made are redeemable in coin, and will be issued in denominations of $50 or multiDles of that sum, as may be de- sired by the bidders Only United State gold coin or gold certificates will be received in payment of the bonds. Under the terms of the secretary's cir cular calling for bids the first payment of 20 per cent. and accrued interest must be paid upon receipt of notice of acceptance of the bid. The remainder of the amounts bid may be paid in in- stallments of 10 per cent each and ac- crued interest at the end of each fifteen
 
 however, are allowed to pay the whole amount of their bids at the time of the first instalment or at any time previous to the maturity of the last installment, provided that all previous installments have been paid. The bonds will be dat ed February 1, 1895, to run thirty years from that time, and will therefore ma- tura February 1, 1925.
 According to the calculations of the actuary Of the treasury, a bidder in order to realize 21a per cent. interest on his investment should have offered 190.S749 for each $10 in bonds bid for. To realize higher rates Of interest bids should have been made as follows PA per cent, 124.9234, per cent SIS, ,3229, 3 1-16 per cent. $117.9749, SIS per cent. $116.6471, 3 3-16 per cent. $115.939 SA per cent $11405O6, 3 5-16 per cent. S112.- 7S14, 3ss per cent. $111.5310 7-16 per cent. $11o2 2992, 31a per cent. S1O9. 0S56, 9-16 per cent s107.S9O0, S5s per cent. S106. 7121 3 11-16 per cent S105. .5516. S;4 per cent. $1O4. .4OS2, 3 1916 per cent. $1oS.- .2S16, 37s per cent, $102.1716, 3 15-16 per cent. s101077S 4 per cent $100.
 Bids have been sent to the treasury department amounting to $50, GOO 900.
 The Yale National bank bid for s50.- 900 in bonds and placed the bid with the Hanover National bank of New York.
 The Connecticut Savings bank bid for s150,000 of the new issue on a graded