The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-02-06
BIDS ON BONDS Received
Envelopes Opened 10 the Office Of the
Secretary Of the Treasury.
APPLAUSE rOR NIX. CARLISLE
Isad0r Straus and John A. Mccall Lead
the CiacQuo-various Bids Consid-
ersd-probabiy Nothing short
Of III win he Noticed.

! Washington. Feb. Sit was exactly
11.30 o'clock this morning when the
brass gate leading to Secretary Car
isles office was opened and those hav-
ing credentials as bidders for the bonds
| were allowed to pass the well guarded
doorway and entered the big public Of
watch the opening of the envelopes
containing bids. Mr.. Van Senden, the
| secretary's private secretary, stood
guard and saw that only those allowed
by the grace of the secretary" should
get In. and ne was especially careful
not to let any but the bidders enter.
| The newspaper correspondents, except
| a single representative Of the press as
sociations, were rigidly excluded.
A few minutes past ~ Secretary Car
Isle appeared, and as he entered the
room some one started applauding. and
as he made his way to his seat, the
hand -clapping grew to quite respect,
able reception and the secretary seemed
somewhat embarrassed thereat. The
bids having been opened BY Q commit
tee of three as follows: Comptroller
Eckels, United States Treasurer Nor
gan and Assistant Secretary Curtis.
Mr.. Eckels. as chairman OF the commit.
tee. appeared and announced that
owing to the large number OF
bids received today and this
morning, II had been impossible to
tabulate all up to noon, but he wished
to report that up to the time given the
committee they had opened and tabu-
lated 3,7O7 bids and the amount SUD
scribed by these was $3.50. 2S2. 500
Mr.. Eckels was here unable to pro-
coed. for the crowd around Secretary
Carlisle burs. forth in loud hand-clap-
ping and shouts Of applause. This was
led by Isador Straus and John A. NC
Call, who we're seated next to the sec
retary. After this had died away MT.
Eckeis continued by saying the per
centage ranged all the way IRON par
| to IlS and fraction
Renewed Applause. .,..r,.
This announcement brought forth
renewed applause. and Mr.. Eckeis
again had to wait for for It .,t;, to ,"Ds,oe; SaHa
large number Of bids vet to be tabu.
lated, and when this IL done 1t Will
bring the number Of offers up to about
1000 and increase the SUBSCRIPTIONS
at least $75.0OO,000 more, thus making
the total over $455, 900 O0O.' Again the
bidders gave vent to applause, ana
Mr.. Eckels returned to the ante room
to continue the work OF the committee.
1t was a quarter to two o'clock when
the committee finished tabulating the
! bids. and II was found that 4,840 bids
had been received and these aggregat-
ed the total subscriptions OF 1854. .26s.Ss0.
or these several were evidently bogus,
one being for 800. .O00, 900 from physi-
600. 900 from Texas. Deducting the
SIZE, ,OO0, 900 considered bogus, It leaves
the total subscriptions at 356S.269. $50.
An analysis of the bids gives the fol-
lowing:
Total amount Of bids. -. $500. .s6Ss, ,sGsS0
l54 bids st ii0 sggrsgatsd.;... " sSS5 eS
s S,ai at iicsd 81 s Sssressssd n.sss!ss
Nn%eef Niwhsst 81 b,d p'aosr.' OBSERVATION-DISCLOSURES. o.. iisN
Lowest bid. ......:............... i9
Average of bids................. lleA
Country at large bid, over. .Sss6. 10000
Europe bid: about: 90. .NH.vW ~
Interest at average rate l.O9N about N.
President John A. Stewart, Of the
United States Trust company, Of New
York, put in bids on behalf of q large
number of banks banking houses. and
individuals amounting in all to 376,000,-
900 at fixed price Of 110075, which will
net about 81 per cent. to the purchaser.
and also bids for 3l0.000,000 at q lower
lions upon Mr. Stewards action in rep
resenting them.
Various Bids.
Messrs. r. e. Glendinning & Co., Of
Philadelphia, bid for $780, 900 at 112.76 8.
H. Emmons, of New York, 1000 at
1906; williamsburg Savings bank, $780,
900 at III. Most of the national bank
bids were at ,11O. Messrs. J. p. Morgan
4 Co.. the National City Of New York.
the Deutsch bank and Harvey Fisk q
Sons bids Jointly for Sl000oo.000 at
| which II will be impossible to award
any portion OF the loan. This cuts out
| the many big bidders at 110.076 who
were associated with Mr.. Stewart. 1t
IL quite possible, however, that even
| the Morgan syndicate will not get any
Of the bonds, as Mr.. Stewart IL quoted
as saying that he believes that no bids
below III will be accepted.
The four subscribers to the Morgan
| syndicate bid in four equal parts and
offered to take all or any part OF the
| issue.
The bid Of Joseph Pulitzer, Of New
York, for 81 900 900 at ia had men,
orandum attached to It stating that
this bid at the highest market price to-
day, is In lieu Of the offer to head the
| list with q subscription Of 81, ,00o. 900 to
a popular loan on the basis, which was
| not adopted, of an open subscription
\ at fixed equal rate.
| Ovsrwhsimsd By Dids
The treasury department was SIM
ply overwhelmed by the enormous num-
Der of bids received. With fifteen ex-
/ pert clerks at work scheduling the bids
at 6 o'clock tonight, they having
| worked necessarily since this morning,
| 1000 bids remained .unscheduled. They
will be copied tomorrow.
The great feature Of the bond bidding
was the offer Of J. p. Morgan's syndi-
cate, which N now composed includes
only his own banking house, the
| Deutsche bank of Berlin, Germany and
Harvey Fisk q Sons. Of New York.
They. proposed to take the entire issue
at 11O.6S77. Only one other bid OF any
thing like equal amount was received.
Mr.. Pierpont Morgan after figuring on
| the bids received said tonight that he
| estimated that he would be awarded
| on his bid about sixty per cent. Of the
| 500. 900, ,OO0 He reached this conclusion
| simply from hearing the various bids
| read, as he did not think that more
than $40, 900, 900 bids above that figure
had been made Scarcely more than
| one-third of the actual bids received
are included in the imperfect lists now
| published, Several thousand bids be-
low the obvious limit Of acceptance are
| omitted.
Bids for many millions Of dollars
| coming from New York. New Jersey,
| Ohio, Pennsylvania, Texas, Illinois.
Connecticut, Vermont. Maryland. Ne
braska, Missouri. North and South
| Carolina, Indiana, Michigan. Louisi-
ana, Warrington (state), Iowa, Wis
consin. Minnesota. and In fact nearly
every state Of the union thrown into
| the most incongruous state Of juxtapO-
sition and quite q number Of offers from
10 n oda varo pecsived at DriceS rang.