The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1896-02-21
BIDS OF $558, 269, $50.
BOND ISSUE MEETS WITH
SURPRISING SUCCESS.
1t Will Take Several Days Before the Bids
are Classified and Saskatchewan Prob
ably be at a Ratio Slightly Lower Than
111-Bidso of Trusts.

WASHINGTON, rep. o.-1he secretary
OF the treasury to-day opened the bids
for the purchase Of $lO0, 600, Ood United
States four per cent thirty year bonds,
which had been received under his
call, dated January {, last.
The total number of bids received
for the new loan is 4,640, aggregating
S55s, 2t9, $50. This number and amount
do not include three bids Of 500, O0O,-
900, SIG, 600 900 and So, 600, 600 which
are OF doubtful authenticity.
Secretary Carlisle was greatly
pleased at the success Of the loan and
said that it showed what the people
or this country would do when APP
pcalcd to. He thought, too, that the
effect abroad would be very marledin
our favor.
The Secretary said it would be three
or four days before the bids could be
verified, scheduled and classified and
until that time he could give no defn-
lite information as to how low bids
would be accepted. He believed, how
ever, from hearing the names and
amounts read, that it would be neces-
sary to accept some bids at a rate
slightly lower than III, but how much
or in what amount he could not now
tell.
AS the last bids were being read, the
Secretary was shown a telegram just
then received by of the New York
bankers present, saying that the new
bonds We're being quoted on the stock
exchange at 116.
The great success Of the issue he
thought would have a very beneficial
effect upon the financial and CONNER
clal interests OF the whole country and
he looked forward to a year of marked
business Improvement.
>. Pierpont Morgan, Harvey Fisk &
Son, and the Deutscher bank of Ber-
lin, as a syndicate, bid for the full
issue of $l0o, 600, 900 at ll0.6s7s.
The Guarantee Trust Company Of
New York bid ST, 400, 900 at 40; Bank
Of Montreal ST., 500, 600 at figures rang
ing from S1o7I1 to no; Lazard, Freres
q 60, $500, 900 at figures ranging from
no.. to l11.55; Rollins, Morse & Co. of
boston, $1,000. 900 at 1861 ~; Robert
Treat Paine of Boston, ST., 900, 900 at
1o5. 1877; Peoples Savings bank of
Providence, r. l., $500, 900 at los: l..
Cahill, jr., of Jersey City, 81, Oo0, 900 at
1895 and 81, O00, 900 at ;O3.
LIE NEW LOAN.
The bonds, which are redeemable in
coin, will be issued in denominations
OF $50, or multiples of that sum, as
may be desired by the bidders. United
States gold coin or gold certificates
only will be received in payment for
the bonds. Under the terms of the
Secretary's circular calling for bids,
the first payment of twenty per cent
and accrued interest, must be made
upon receipt Of notice of the accept
ance of the bid. The remainder OF the
amounts bid must be paid IN INSTALL
ments OF ten per cent each and &C
crued interest at the end of each if
teen days thereafter. Accepted bid
ders, however, are allowed to pay the
whole amount Of their bids at the time
OF the first installment, or at n time
installment, provided that all previ-
Gus installments have been paid.
The bonds will be dated February
/, 1855, to run thirty years from that
time, and will, therefore, mature Feb
ruary l, 1925. According to the cal
culations OF the actuary of the Treas
ury, a bidder in order to realize 9 l-2
per cent interest on his investment,
should have offered $l3O. $40 for each
500 in bonds bid for. To realize
higher rates Of interest, bids should
have beer made as follows: 2 3-4 per
cent, Sl24. 1924; 3 per cent, $119. 1929:
3 l-16 per cent, SILT. 9749; 3 1-s per
cent, $116. GAIL; 3-16 per cent,
Sl15.3391; 3 Ii per cent, $l14.O5oG;
8 SIG per cent, %$l12.7sl4; g 3-8 per
cent, $l11.531O; 3 7-i6 per cent,
$l1O.Io92; 8 l-2 per cent, 500. os56:
8 Gle per cent, SLOT. 5000; 3 SIS per
cent, $1oo. 7l2l; 311-16 per cent,
$lO5. solo; 49, per cent, $1Oi.lOs2:
8 1916 per cent, $103.2sl6; 8 rs per
cent, Sl02. 1716; 3 15-l6 per cent,
$l0i.077o; 4 per cent, $lO0.
RESULTS OF PAST LOANS.
For the 5 per cent oar of February
!. 1894, there were in all, 2ss bids,
representing So. 2g2, $50. OF this
amoun S42, a95. $50 was bid for at
Silt. 223, and 50, 295. 800 at a price in
excess Of that figure. The amount
awarded "a so millions, upon which
the government realized a premium
of GS, 1888, 295.
For the 5 per cent loan of November
Is, 1894, for which there was no upset
price, the government received 394
bids, amounting to Sl1s,341, l5u. The
amount Of the bids received at Si1s.-
Se9s was SO millions;s amount below
that rate, SCI, TIC, 100; at rates between
Sl15.8S95 and $1l7.O77, SIS, 1929. 800; at
$li1.O.1, so millions, made by the Nor
gan-Belmont bond syndicate. The
amount bid at rates above $117.O77 was
$1O.9 35, $50.
The syndicate bid was accepted, the
government realizing a premium Of