The record-union., 1896-02-06

Received From Most All Sections
OF the Country, showing That the
People Have Confidence in the
Governments Credit.
WASHINGTON, Feb. Bids for
500, 100000 thirty-year per cent.
United States bonds were opened at the
Treasury Department at noon to-day
under the conditions prescribed in the
circular issued January 9th last by Sec
retary Carlisle. The bids were opened
in the room Of Secretary Carlisle. A
large table was placed at the south end
or the room. overlooking the Potomac
River and the Washington Monument,
at which sat Secretary Carlisle, Assist
ant Secre- airy Curtis and several clerks.
In from of the desk were placed a
number ff chairs, and every seat was
taken by those who had come in person
TO present bids. and many were COM
PEELED to stand. Hundreds of millions
OF dollars were represented. Nearly all
those present as bidders came from
New York, but there was a sprinkling
OF ffnanciers and brokers from Chicago.
Cincinnati and other Western cities.
A large tin box was placed on the ta-
Bile shortly before ID o'clock. It con-
fained the bids. They We're done up by
days, and upon each package was
marked the date on which the pld So
received.
Under the immediate charge of AS
sistant Secretary Curtis, the following
committee opened the bids: James H.
Eckels, Comptroller of the Currency;
DanielN. Morgan, UnitedStates Treas
urer. and A. T. Huntington, Chief Of
the Division of Loans and Currency,
Secretary's Office.
The Treasury Department was simply
overwhelmed by the enormous number
OF bids received. With fifteen expert
clerks at work scheduling the bids at 6
o'clock tonight, they having worked
necessarily since 10 o'clock this morn
ing. 1,200 bids remain unscheduled.
They will be finished tomorrow.
The great feature of the bond bidding
was the offer of J. p. Morgan's syndi-
cate, which, as now composed, includes
only his own banking house, the
Deutsche Bank of Berlin, Germany, and
Harvey Fiske & Sons of New York.
They proposed to take the entire issue
at 40. 6ST7. Only one other bid of any
thing like that amount was received.
Mr.. Morgan, after figuring on the
bids received, said tonight that he es-
s4imated that he would be awarded on
his bids about 60 per cent. of the hun
dred million. He reached this conclu-
sion after simply hearing the various
bids read, as he did not think that
more than $40000,000 of bids above
that figure had been made
Scarcely more than one-third of the
actual bids received are included in the
imperfect list now published. Several
thousand bids below the obvious limit
of acceptance are omitted. Bids for
many millions Of dollars came from
New York, New Jersey, Ohio, Pennsyl
vania, Texas, Illinois, Connecticut, Yer
mont, Maryland. Nebraska; Missouri,
South Carolina, North Carolina, Indi-
ana Michigan, Washington, Iowa,
Wisconsin, Minnesota, and, in fact.
nearly every State in the Union was
thrown into the most incongruous state
of juxtapOsition, ands quite number of
offers from Canada We're received at
prices ranging from 100 downward.
The number of small bids was quite
remarkable. The $50 offers ran up into
the hundreds, and at fairly good prices,
and over 900 small banks and private
individuals whose offers at the highest
rates of acceptability ranged from $500
up to $4,000 or $4,000 are not included
in the list published.
The offers by the class of small bid
ders below the 10 and fraction limit,
which, it seems, shut off the issue, We're
still more numerous. An encouraging
feature in these offers was that so many
of those of large. amount, ranging in
many cases up to one or more millions
of dollars, came from fiduciary institu-
tions. which thereby indicated that they
had a better outlet for their money
than that afforded by the United States
bonds at the price at which they will
undoubtedly be awarded.
one Of the curious incidents of the
dav was the fact that the bid of the
Union Trust Company of New York for
SIC. 100000 at 110.075 almost escaped
notice in the monotony Of the reading,
while the bid of the Morgan syndicate
was received with applause.
Secretary Carlisle said he was ex-
4rernely gratffied at the response Of the
people to the Governments appeal for
subscriptions to the bond call 1t sim
pIv showed that when the people were
appealed to they would not fail to
properly respond
At 1915 p. m. Comptroller Eckels ap-
peared at the door with a list of bids in
his hands. The first bid was received
January 18th. of 5000 at 10. Among
the first read were those of Jennie
waldeman. Chicago, 81 900 at 100, and
NJ. E. Hull. Chicago. 5000 at par. The
first bids read out were IN small
amounts. ranging from 500 to Sl0OoO
each
The following list, in addition to bids
received from points in the West, in
cludes all bids of $4,000 or over:
Peoples National Bank Of Buffalo,
SOC. 600 at 10. Maine Savings Bank of
Portland, Me, SI50000 at 10; Will
iamsburg. n. ", Savings Bank, 5000
600 at III; Berney National Bank Bir-
mingham, Ala. $4,000 at 100; Atchi-
son National Bank, Atehison, Kas.,
$4,000 at 104; Detroit National Bank,
Detroit, Mich, 100000 at 10; Suffolk
Savings Bank, Boston, Mass, S20O,00O
at Ill; West Branch National Bank,
Williamsport, Pa, $4,000 at 105.
Bids at 110.50: Bank of Charleston,
s. c., $4,000; National Bank of the
Commonwealth, Boston, 100000; Rob
ert e. Glendenning & Co. Philadelphia,
100000; Hecht Bros & Co, $4,000;
First National Bank, Onenta, N. Y,
$50 600: National City Bank of Cleve-
land. o.. S60.0O0 Merchants Loan and