The daily morning journal and courier., 1896-02-07
TIE SUCCESS OF THE LOAN
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 that there was no ingress or egress dur ing the entire day,
 The only door which was opened dur ing the day was the one communicating With Secretary Carlisle's room, in which bidders and representative were seat eel Every messenger who came in bearing belated bids had to pass through and hand in the bids in every pody's presence, through that one door. This puts one of the question communi- cation between the committee and it's clerks inside the private room and any body outside.
 All the big bids arrived during the last hour This is the uniform rule in all cases in bidding for bonds. Bidders are always capitalists who watch the market carefully and delay bidding un- til the last moment, so as to take ad- vantage of any passing fluctuation.
 Bids of the Stewart syndicate and of the Morgan syndicate came in at about the same moment, and within the last fifteen minutes. No one knew from the outside of the envelopes or wrappers who the bidders were.
 The bids were opened along with a. number of others and laid out in a pile by the side of q recording clerk. Sec retary Carlisle himself had no knoWl- edge that MT. Mogan was going to put in any bid, and the first he heard of it was when, seated in another room, he heard the sound of the applause which followed the announcement of the bids, ta in q told him that the Morgan syndicate had offered to take the whole loan at 110.6S7
 Secretary Carlisle then came into his own office, and there sat down and con- versed with Mir Morgan and other gen. lemen who were watching the bidding. This conversation took place in room full of spectators, and he did not see Mr. Morgan privately at all.
 One incident which occurred showed how little anyone there knew what was forthcoming. Comptroller Eckes in making the announcements, made a mis- take in reading the price offered by the Stewart estate syndicate and made it read 110.75, instead of HOOPS. There was a visible disappointment on the part of the Morgan people, who with drew to the corridor and held con- friends who met them there that this bid was so much better than theirs that they were practically cut out of the whole business. While still reading the bids, Mir. Eckels discovered the mis- take and corrected it, and word was brought to the Morgan people of this. l They then returned to Secretary Car lisle's office to listen to the rest of the l reading, plainly very much relieved.
 The practice of opening bids before | the day fixed in bond sales is not a new one. In former popular bond subscrip- ] tions the bids have been opened from l the day they began to come to the treasury, and a memorandum has been sent out of the amount of bids, ot course without the prices.
 This has enabled the secretary of the | treasury to keep track of the amount which was likely to be bid, so that the could know whether the whole loan would be taken or not.
 l On a former occasion, it will be re- membered, the day fixed for opening bids was Thursday and on the Monday previous MT. Carlisle made a hurried | number of bankers whom he had called 1 together. The reason for this was that 1 bids already in amounted to only $2,- GOO 900 of the $50, 900 required under i the bond call. He explained the situa- l ton and told the bankers that the only l hope of the government now rested with them. Their response was prompt and the loan was saved. Nobody com l plained then of the opening of bids prematurely. It is believed that the present complaint is instigated by some | of the disappointed bidders
 By working day and night with the expert accountans Assistant Secretary | Curtis hopes to be able to announce to- morrow the names of those who were the successful bidders. The treasury has already in hand ready for delivery $40, 00O, 900 registered bonds and $22OOO,- 900 coupon bonds. Bonds of the latter character, principally of $1,000 denomi. nation, are being printed and delivered at the treasury at the rate of $2,0O0,OO0 l Many of the successful bidders indicat- ed in their bids how they desired the bonds awarded them, broken up' Those who did not will be invited tc
 do so when notified of the acceptance of their bids. Chief Johnson of the bu-
 reau of engraving and printing has l practically all the bonds printed witt
 the slight detail of denomination to be put on some. and from present indica- tions, with 120 days left, all bonds car be paid, for no delay is expected in theil
 delivery.