Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1896-01-09

SUBSCRIPTIONS FROM PRIVATE
PARTIES NOT EXPECTED.
THE BOND CIRCULAR ISSUED
Made Public Ahead of Date-Premium
on Gold Affected Substitute Is
Adopted by Senate Finance Com
mittee- Want More
Time Before Taking up Tariff.

w dSuIuS Jan. I.-SGCr6t AIRY Lar
Isle about midnight Saturday night,
made public a circular, dated jan 6,
giving notice that the government VII
sell 500 100000 thirty year per cent.
coupons or registered bonds dated Feb.
/, 1895, for which purchasers will be
required to pay in gold coin or gold
certificates. The circular also con-
tains an intimation of a possible
further issue OF bonds should the issue
or sale of an additional or different
form of bond for the maintenance OF
the gold reserve be authorized by the
law before Feb. 5. The bonds are 10
be issued in sums as low as $50 and
payable in installments, features
which, it is thought, will secure their
popular favor. The main reason for
dating the bonds a year back is said to
be in Crder to give the public a better
opportunity TO judge their market
value by comparing them with the gold
tours issued at that time, so that their
bids can be made to conform with the
market value of those bonds on the list
of February. The bonds will be ready
for delivery on or before Feb. Is.
Payments may be made by INSTALL
ments: Twenty per cent. upon receipt
of notice Of acceptance of bids, and 20
per cent. at the end Of each ten days
thereafter; but all accepted bidders
may pay the whole amount at the date
of the first installment, and those who
have paid all installments previously
maturing may pay the whole amount
of their bids at any time, not later
than the maturity of the last INSTALL
ment.
Persons we'll qualified to judge of
the result of the bond issue do not
look for large subscriptions from pri-
vate individuals, and the opinion is
expressed that the syndicates bid for
the entire issue will be accepted. 1t
is recalled that private subscriptions
to the first loan of $50,000O00 amount
ed to about only $745,000 and to the
last loan but little more, and as the
bid submitted to the syndicate con-
tanned the condition that they be
awarded the entire amount Or none,
left the government little option in the
matter. The last issue resulted in the
payment into the treasury of $65, 49,
PA in gold, for which the government
issued per cent. thirty year bonds to
the amount of 62,315, 400. The pre-
MUM realized by the government,
therefore, was $1,000, 844, or .04494, the
investor realizing a rate Of interest Of
about 375 per cent. The market
price of these bonds is now about ia.
The treasury now holds legal ten
ders to the amount of $147, 495, $40, of
which $115, 1885, 43 are in United
States notes, $685. 900 in currency
certificates and S22,O44, 511 ill treasury
notes OF 1890. The amount of legal
tenders now in circulation is $37S, 49,
642, as follows:
Treasury notes CT 1890, $115, 726,769
United States notes, $3.50, 855, S73, and
currency certificates, $206, $50, 1886. Of
the amount of legal tenders in circula-
tor, the 1921 national banks on Sept.
20 last, the date Of the last report,
held $143, $3.50, 685, the remainder being
held by state banks, trust companies,
savings banks and private banks ag
gregating in number 10,038 and by
private individuals.
New York, Jan. 1.-THE call for the
government loan caused the premium
on gold to disappear Monday morning
and it was said that those persons who
bought gold last week and especially
those who ordered gold from the other
side, would lose considerable.