Birmingham state herald., 1896-02-06
THE BOND SALE 4 SUCCESS The Amount Was Bid for Six Times Over. A SAVING OF $5,OOO,OOO The Morgan Syndicate Bid for the Entire Lot
 at i10.6887. IT WILL GET 60 PER CENT OF THEM The Passage of the Free Silver Bill by the Senate Did Not Stop the Deutsche Bank of Berlin From Making
 Big Bid.

Washington, Feb. 5.-Bids for $1O0, ,OOO- 900 of thirty year per cent United States bonds were opened at the treasury to- day under the conditions prescribed in the circular issued January 6 last by Secretary Carlisle. The principal condi- ton is that the bonds must be paid In gold. For the convenience of the purs chasers the bonds may be paid for in ih- stallments as follows: Twenty per cent at the time of the. notice of acceptance and 10 per cent at the end of each fifteen days thereafter. The total number of bids was 4640, aggregating $GS4, ,269,S5 but one bid of s10O,O00O00 from a physi- clan in Michigan and one of $16,000,O00 from Texas are evidently bogus. De- ducting these amounts leaves the ag gregate of genuine bids $56s, ,269, $50.
 At 3 o'clock it was generally under stood that the whole s1O0,O0 900 of bonds would bring 1105O and over. The official average figure at which the $100, 100000 will be awarded will not be known until tomorrow The bids were opened in the room of Secretary Carlisle, an apartment about 40x25 feet. A large table was placed in the south end of the room, overlooking the Potomac river and the Washington monument at which sat Secretary Carlisle, Assistant Secretary Curtis and several clerks. In front of the desk were placed a number of chairs, and every seat was taken by those who had come in person to present bids, and many were compelled to stand. Hundreds of millions were represented. The greater number of those present as bidders came from New York, but there was a sprinkling of financiers and bank CTS from Chicago, Cincinnati and other western cities. some from Baltimore, Boston and Philadelphia. IA large tin box was placed on the table shortly before F o'clock. It con tained the bids. They were done up by days, and upon each package was mark ed athe date On which the bid was re- ceHed. Among those present were: MT. Wormser of Wormser & Bros. or New York, Ex-Representative Isadore Straus of New York, l.. G. Hamilton, represent ing John A. Stewart; J. Wood ward of the Hanover National bank of New York John McCaull and c. C. Baldwin of the New York Life 1nsur- ance company, MT. Edmond of Speyer & Go. of New York, MT. Lehman or Leh- man Bros of New York, MT. Burns of the American National bank of New York, MT. Redmond of Redmond, Kerr & Co., Ex- Representative Coombs Of the Manufacturers Trust company of Brook- lyn, Representative Hendricks Of the National Union bank of New York, MT. Kemp of the Commercial and Farmers bank of Baltimore, Mir. Toulemen or the Shoe and Leather National bank of Bos~ ton, MT. Graham of the Boston Trust company, Boston; MT. Burnett of the h. yestment Corporation company of New York. MT. Chandler of Boston, MT. Pliny Fiske of Harvey Fiske & Co.,, New York; P c. Chandler and MT Lawson Of Bos- ton, Mass; Jancs R. Blair, Brooklyn; Mir Parker president of the Columbia National bank of Washington, D. C.; J. Pierpont Morgan of New York.
 When Secretary Carlisle entered the room promptly at noon, he was received with applause from the people present. All was in readiness but the bids, and at 12:10 it was announced that 15O addi- tional bids having been received just be- fore noon it would take half an hour or more to schedule them.
 At 12:15 D. m. Comptroller Eckles ap- peared at the door with list of bids in his hands and announced the committee appointed by the secretary to open and tabulate. Under the immediate charge of Assistant Secretary Curtis the follow ing committee opened the bids: James H. Eckles comptroller of the currency; Daniel N. Morgan, United States treas urer and A. T. Huntington, chief of the division of loans and currency, secre- tarys office.
 The first bid was received January 13, of $500 at 110. The first bids read out were in small amounts, ranging from $50 to $10000 each. Among these was one of s5OOO at 110 from the Loan and Savings bank of Charlotte, N. c.
 At the beginning of the reading Comp troller Eckles announced that the bids ranged from par to fraction above 11o. The comptroller read until his voice gave out when he was relieved by another member of the committee The first bid above 110 and the first to receive ap- plause was that for $5O0000 by the Will uausburg, N Y Savings bank, Eastern district of Brooklyn. Most of the bids announced prior to 2 o'clock were those received up to yesterday. They were many in number, but only a half dozen of them were for single amounts above $100.000. The big syndicate bids were not received until this morning and were not announced until near the close of the pro- ceedings.
 The treasury department was simply overw whelmed by the enormous number of bids received. With fifteen expert clerks at work scheduling the bids at o'clock tonight, they having worked incessantly since this morning, 1900 bids remained unseheduied. They will be copied to- morrow. It will take many hours of hard work to straighten out the tangle as to the bids received and the prices of fered. In spite of the care exercised by the committee which opened the bids, many unavoidable errors were made in announcing the bids. As proof of this 1t may be mentioned that number of offers from prominent eastern financial institutions, all apparently acting in con- cert, were read out as being 110.75. This had progressed for some time when the correction was suggested by one of the parties in interest that all those bids were at 110075 In future readings they were 50 announced. The official analysis of the figures will determine the result and th,s will be necessarily a work of great labor The great Feature of the bidding was the offer of J. P. Morgan's syndf- cate which as now composed includes