Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1896-02-20
SOMEINSIDE HISTORy
WALTER WeLLMAN DlScouRSES IN
The RECENT BOND ISSUE.
why the Morgan Syndicate DID Not rt
the Whole Lot-The Presiders at O,ss
with Morgan-why stewart Loss q G, cd
Sized Fortune.

~
Sized Fortune.
The raGent loan, despite it's imp IS
siveness AID popular features, F7as u
scientific and clumsy. Any Ct. Id
bid, whether he had gold or no, is
pretty certain thar millions v.rc hig oy
persons who had scarcely a goli do r
10 their names. These were spe,Hlia We
bids, and they are Of course 60 b. II. rs
ferred TO banks or other inst nuti,n
which have gold or the means OF etett'l ~
it. The result is that gold is pra"tIc. ~
at a premium in New York ana E'Os q.
il is a small premium, bat just OF ING TO
tempt tho Cupidity Of many mt1 Mo
have bid for bonds. IL they liz / - eg
must pay an eighth Tor gold at a lank -
brokers', but can get il without "A g.
MUM at the subtreasury, where al 90
expense may be avoided by sim;cy u-
ryIng ae stuff from the lay TO h. e
cCivIng window, where are they = "Ig
10 get it? Human nature is huH!ap "a
iure, aud no one has as yet disttN I'd
that it is any less human among bal .,,,
bLOhSis anu bCb" spcSui"'oiS th'C' ID
among other people.
In ms connection am able = : We
some secret history that Is vely iI.taI, T.
ing Some weeks ago the aunn4lsi a.
non wanted TO place inns loau VIA n /.
Morgan and his syndicate uhder "Du l.
/ lis thai would protect IAe I aar'e
Mr.. Morgan M~' Wiillng to und "a Se
tie TASK, t.. re Declined TO pay NJ "
ii.'.I 40. g administration {.
hiIn i.te "huIo iut at lU5, -
tq"al - " , percent Iht'lest' MI ~
t"n ..'.gu. o. @ Ilessur'. IL "4
hcren' Z" -. =, "., Il 80
IUrn. " upuu Il iou'..y
! a. nov IAN b PER.
tho So, az. .-
L -ne!uG I... .' " - had II
w. oYt ." "o We" uAe ne
{ " II, Il priy".r 'a..
Iu''.c con- 1.-Two I,.n I'D.
r,.dsal 10 l'1y 1903 ue,erM. Led t-
Maa somo satisfaction H. t.a pa
u force Mo.EIA 10 come up ".tm
otter, not alone or lU", bat Of nta..t
III, but he would be DD''Ir d had
he assurances that the sale al III wee
gong 10 protect the reserve nd l-.ne
another loan unnecessary DoIuIe the
presidential election.
The newspaper writers who pirate Of
Plerp1nt Morgan as the favurlie imam
cher Of The administration do not know
what they are talking about. Presld,nt
Cleveland Is out Of patience with Mr..
Morgan. IL any tinancler may be regard
ed us the idvOIIte of the administration
1t Is John A. stewart Of the United
States Trust company. Al,er the pres
dent had rejected Mr.. MUrgan's terms
OF l05 a month ago Mr.. l,ewart was
asked to take hold and help make the
public lOan II success. He did 80. and 10
his Efforts and influence nIo!c than these
Of any "t.'er maa - "2c :2c success vi
the recent lean.
And ) , ar. Stewart was Outmaneu-
verCd by Mi. Morgan as a bidder for
bonds. Tbs WAS because Mr. MUI2an
bad Il freud IN the sTiu Cata winch 4n..
Stewart hIG u.Fan.- . lOt t.e pa. pg.e
If msuIimg the sucCtsa If lDe De- .e
With rn,s information IN hSud 1t WIS
easy for Morgan To OuiuId :. walt. #
Mr. L.ewar L.I been E".u,d by tine al
vice Of a Wa ..fug.Un laser, one If IL"
trends, lac ",GId have ro.,en MOi
Gan l. Wednesday norntug tn"
banker L,,,nc sat. ued &.:g"n as s.
ing IL bnd neall " III, ULu Lu wired Mir
Sl.wart To this eject, not once bu,