The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-02-06

take many hours of hard work to
straishten out the tangle as to the bids
received and the prices offered In
spite OF the care exerted by the com
mittee which opened the bids many un-
aNoldaDle errors were made in ANNOUNCE
ing the bids. AS proof of this 1t may be
mentioned that a number of offers from
prominent eastern institutions, all ap-
parently acting In concert were read
out as being at l10.75. This had pro-
sfessea Tor some time when the correc-
tion was suggested by one of the pnr-
ties interested, that all those bids we're
at ll0.Od5. In future readings they were
so announced
The great feature of the bidding was
the offer OF j. T.. Morgan Syndicate.
whlch, as now composed. includes only
ms own banking house, the Deutsche
isnhk ,s,u,! OF beriin. Germany. and Harvey
tlske " Son. of New York. They pro-
posed TO take the entire issue at ITO 6SST
only one other bid of anything like
equal amount was received.
MI. Morgan, after figuring on the bids
received said tonight that he expected
tnat ne would be awarded on his bid
about Go per cent of the SlOO 600 600 IJe
reached the conclusion simply from
hearint, the various bids read, as he did
not think that more than $40, 600. 900
above that figure had been made
Scarcely more than one-third OF the
actual bids received are included I'm the
imperfect lists, now published Several
bids below the obvious limit of accep-
tancc are omitted. Bids for many mil
lions Of dollars coming from New York
ONO, PENNSYLVANIA, Texas, Illinois
connecticut, Virginia, Maryland, South
Carolina North Carolina Indiana, Mich
igan, Louisiana, State of washington
wisconsin, Minnesota, and. in fact. cv-
cry State of the Union are thrown into
fN,r,st, 49,,
Sitlon and quite Il number of offers from
canada were received at prices ranging
rom lo9 downward. The number of
small bids was quite remarkable The
lifty dollar offers ran up into the hun
dreds and at fairly good prices and
over one thousand small banks and pri-
vatc individuals. whose offers at the
highest rates of acceptability ranged
from $500 up to eight or nine thousand
dollars, are not included i'm the lists pub
liShed The offers by all classes of small
bidders below the ll0 and a fraction
limit, which seems to shut off the is
sue. were still more numerous. A rea-
ture IN these offers was that so many
oil large amounts ranging in many cases
up to one or more millions of dollars.
came from fduciary Institutions, which
thereby indicated that they Ind no bet :
ter outlet than that afforded by United
States bonds at the price at which they
VIII undoubtedly be awarded,
one OF the curious Incidents Of the
DAY was the fact that the bids OF the
Union Trust Company, OF New York
lof S'S.OOo,o0O at 110.75, almost escaped
notlce in the monotony OF the reading
whlle the bid of the Morgan Syndicate
was received with applause The Ham
over National Bank of New York. sub
mitted Sin separate bids of one million
each, at prices ranging from lO9 to
U.S "a Of
bid llO.15 for four millions and President
John A. Stewart. of the Union Trust
company, of New York. bid for ten
million dollars in addition to the SIS O0O :
oo0 mentioned above at lower figure.
Foilowtng are some of the bids: Ger
mania Savings Bank. New Orleans. $685.
Ouo at l12; First National Bank. ST. An
gustine, Fla, $4,000 at 1l2: First Nation
al Sank, Columbus, Miss, $40 600 at llo:
j. r. Allison. Statesviile. n. G., $40. 600 at
~; flrst National Bank. Mobile. Ala,
Sla,U00 at 112: Fort Worth National
t'ank. $4,000 at no; Texarknna National
Bank. Texas. $4,000 at 11O: l1disto saw
,nss Bank, Orangeburg, S. c.. $40, 1000, at
10; Bank of Charleston III. B. Az
Charleston, S. c., $500 at ll2I.; New
orleans National Bank. La. siO0. 600 Mt
ll4.O5O6; llibernia National Bank New
orleans. $4,000 at no. 1892: First NntionoI
Bank, Barnum Tex, $50. 900, at 40 2aeo
FohoWihs Dlds were It los and under.
John L. Willard & Sons. Richmond
va, 100000; First National Ranl; Of
l.atonia. Tex. $4,000: Carolina National
Bank. Columbia, S. c., s25. 900: John 6
armstrong. Wilmington, y. c.. lcnfwv
rlrst National Bank. Chattanoora
Tenn. s72,500; National Bank of VII
mington, n. c., 100000: Union and
Planters Sank, Memphis. sloO, 900; First
National Bank, Fernandina. Fla sIo :
600; Commercial National Bank. Hons
ton. Tex, 100000: City National Rank
Selma Ala, 100000; Peoples National
Sank, Winston, n. G.. $4,000; First
National Bank, Memphis. Tenn SIM
700; First National Bank. Vicksburr
Miss, 1890; Vicksburg Bank, Vicks-
burg. Miss, 100000; Richmond National
Bank, Richmond, Va, $4,000. In ali
nine bids OF $4,000 each from l07 81
to ll15l. Merchants National Bank
Richmond. Va, s25,0oO, at Ill. and sos,
600 at 110.5o. These bids for amounts
were: Joseph Pulitzer, for 81 0Oo 0o0 .
Speyer &. Co. SS,O0ooo at 40 to iii.
New York Life Insurance Compapy s5
100000, at 1l0k and S5,00O.OO0, at 1lO: Mu
tual Life Insurance Company, of New
york, ShOOO,0c0, at 40; August Belmont
& Co, New York, $500 600, at 1876,
The list Of bids from New York em-
braces an endless number of names fa-
millar I'm the financial and com,nercIa,
world. as we'll as of private capitalists
not actively engaged In business.
The Gold Reserve.
WaebinPton Feb 6Tbo r,.a..-.