New-York tribune., 1896-01-03
NO CONTRACT YET ENTERED INTO.

NO CONTRACT YET ENTERED INTO.
THE PRICE NOT DECIDED UPON THUS FAR
AWAITING SOME SIGN FROM THE SENATE.
The statement is authorijatively made that
not only has contract been entered into for
the sale by the Government of s100 600 900 Of
thirty-year per cent bonds TO the syndicate
headed by ]. Pierpont Morgan. but that the Ad-
ministration will engage In no negotiations with
the syndicate until the United States Senate has
acted on the Bond bill which has already passed
the House Of Representatives On this point
the President has expressed himself specifically
Whether one day, week or one month
elapses before the Senate expresses itself on the
bond question. the President has stated, the Ad-
mlnistration will not name figures at which It
Nevertheless. the fate Of the House Bond bill
in the Senate ought to be settled by the treat
ment it receives at the hands Of the Finance
Committee Of the latter body. which is to meet
to-day
President James Stillman, OF the National City
Bank. got back yesterday from his visit to
Washington. but President James T. Woodward
remained there. and President John A. Stewart,
of the United States Trust Company set out
for the capital in the afternoon. Mr.. Stillrnan
would not discuss the results of his trip and Mr.
Stewart would not say what he expected TO ac-
complish In Washington
There was an fntimation that the price OF the
bonds TO be exacted by the Government would
be not 1041a but 105. which would make n diff
ference in its favor of s462 900 in the proposed ex-
change Of bonds for 5.75O.OOO ounces Of gold. and
q difference of 1924 900 If a second lot OF gold OF
the same amount should be called for However
nothing has been finally settled as TO the price
OF the bonds. and II cannot be said whether
they will be sold at 1O4ia or 105, or for that
matter at 10. Whatever price the Government
decides on will be increased to buyers by per
cent to provide for the commission TO be paid TO
7 Pierpont Morgan, rather j. p. Morgan &
co for services in making up and managing
tho svnd,ca,e which is TO float the bonds.
About s. 900, 900 in gold has been ordered from
the other side to be used In purchasing Gov
ernment bonds In fact. there is Sz.oooo9o On
the werra. and 100000 more on ,h,r ,nr oragss
across the Alta nt,c. These lots or goid are
consigned 70 bullion dealers. the importatlons
Of gold are expected 70 be e,sre sae"s' s premun
OF " per cent on gold at present. VITA
premium Of 1h per cent bullion ueaieIs s "su md
that gold can be imported without loss, anu ,,r
the addition Of another eighth makes MS "''
portation profitable. ,,.,o
II is said that the largest single sunscripl'on
70 the bond syndicate Is FOR tloooo,vVo Snun,
made by the New-York Life Insurance CoT ON
pany through It's president John A. Mcohtt
Five Chicago banks are declared 70 nave SUI
scrbed for 81. 1000 bonds each, ana otnei "p
plications bring the Chicago subscrip,lons =
10 $40 100000 No allotment OF the bonds has, OF
course been made by J. =. Morgan q 20. !.',
but a foreign house reports that IL IL iiheS "a ~
receive only one-tenth Of the bonds II ohereu
to take This demonstrates that there Is an
excellent market for the bonds In Europe % ue,
spite the inharmonious relations between the
United States and Great Britain The home
subscriptions continue TO pour IN. ana they
will reach an enormous total. AccordingIy
when the Administration is ready 70 issur po.uo .t
a quick sale will be assured, not only for the
100000 which It is proposed to put OUT AT
first. but also for the second slOo.OOoooo II tna
Issuance Of them is found necessary or decnie'
advisable.