The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-02-06
CALCULATIONS
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CONTINUED from Page y
VAST NUMBERS.

the Morgan figure, ana 1or ahfoul u
aggregating sufficient to take up tht
entire loan. Among them We're TN
offerings of the Stewart and Mccall
syndicates. including the big insurance
banking and trust companies of New
York City, which stood ready to TAKE
huge blocks of bonds at figures in ex
cess of prices named a week ago a!
high mark for long lots.
Secretary Carlisle was greatly pleased
at the success of the bond offerings
He said no definite statement could bt
made, as yet, concerning the awards
to successful bidders. The secretary
said that it would probably be three OF
four days before the bids could be verl
fled, scheduled and classified. and I'M
til that time he could give no definite
information as to how low bids would
be accepted.
He had the impression, however
from hearing the names and amounts
read, that it would be necessary in al
probability to accept some bids at
rate
SLIGHTLY LOWER
than d11.O, but how many or In what
amount he could not now tell AS the
last bids were being read, the secretary
was shown a telegram just then re-
ceived by one of the New York bank
ers present, saying that the new bonds
were being quoted on the stock eX-
change at lie The great success of the
issue, he thought, would have a very
beneficient effect upon the financial and
commercial interests of the whole
country and he looked forward to a
year of marked business improvement
When the department closed last
night, about $500 bids had been re-
:,
of clerks was set to work classifying
and scheduling them. The bulk of the
work was then thought to be over, at
least except for a few bids for large
amounts, but the morning mails
brought at least 1000 more bids, which
had the effect of greatly disarranging
the plans.
THE INTEREST
manifested in this loan far exceeded
than of any of the preceding ones, and
when the hour for opening the bids ar
rived the south corridor of the treasu-
ry building in the vicinity of Mr.. Car
isles office was crowded with bidders,
or their representatives, and newspaper
correspondents.
When, at 1880 the door of the sec
retarys Office was opened there was a
rush made for seats, and in very
short time no available space remained
untitled. So great was the crowd that
to afford easier entrance and exit, the
door was removed from its hinges.
Among the last to arrive were Messrs.
J. P. Morgan and Pliny Fisk of New
York, who found in the crowded room
ahead of them numbers Of well known
f1nanciers. Among those who had ar
rived were William H. Coombs, presi-
dent Of the Manufacturers Trust COM
pany of Brooklyn; Mr.. Graham, of the
International Trust company, Boston;
Mr.. Hendrix, president of the National
Union bank of Brooklyn; Mr.. Toulmin,
vice-president of the Hide and Leather
bank of Boston; Mr.. Redman, of Red
man, Kerr 6S Co., security dealers, New
York; Mr. Burns, of the American Elk
change National bank of New York,
and Mr.. Lehman, of Lehman Bros.
New York. Later arrivals included
Mr.. Martin Erdman, of Speyer & Co..
New York: President John A Mccall
and c. c. Baldwin, of the life insurance
company of New York; L. G. Hamp-
ton, representing John A. Stewart,
president of the United States Trust
company of New York; Mr.. Wormser,
of Wormser Bros, New York; Daniel
Magone, of Ogdensburg, N. Y, and ex-
collector of customs of the port of New
and Farmers bank of Baltimore; DR..
G. W. Hosme1 and Mr.. James Creel-
man, representing Mr.. Pulitzer, of the
New York World; Mr.. Burnet, of the
Investment Corporation company. New
York, and Mr.. Chandler of Boston.
THE OPENING.
The committee to superintend the
opening of the bids, consisting of Unit
ed States Treasurer Morgan, Comp
troller Eckels and Mr.. Huntington, of
the loan and currency division, had
been at work since early morning. and
at a few minutes after noon announced
that they were ready to proceed. 1t
was an interesting crowd that listened
to Mr. Eckels as he read the names
of the bidders and the amounts sub
subscribed for, and it is probable that
more millions were represented in Mr.
EckelS' audience than were ever before
gathered together in the treasury
building. Three or four of the bids
carried with them evidence of their
being fictitious and they were accord
ingly omitted from the list, but the
long list of bids and the substantial
amounts desired by many bidders soon
made it apparent that the question was
not would the loan be oversubscrib-
ed" but chow much would it be over
subscribed"
The first announcement from Mr..
Eckels made it known that bond bids
approaching the 100000 600 mark had
been made, with enough unopened to
represent another $4,000, 900: then came
another announcement that the total
was the stuDendous figure of S6S4.-
duced by throwing out three bogus
bids for 500, 600, $4,000, 600 and &c.
100000. 1t would be impossible with
any ordinarily Geographic or typo
graphic facilities to give a complete
list of all the bids, and, save as a mat
ter of history. no Importance attaches
now to any bids naming below ITO. 6S77
From the list of bidders at and above
that figure the successful bidders un-
doubtedly will come. The full list of
them is as follows:
THE LIST.
J. 2. Morgan & Co., Harvey Fisk &
Co, and the Deutsche bank of Berlin,
S10,000,0 600 at 110.6S77.
State of California, $4,000 at 112.
National Park bank, New York, S1O,-
600 at 112
I. y. Walter, San Francisco, $4,000
/ n. Walter, San Francisco, $4,000
DIT I1I.0u.
George CRANE, New York City, $780,
900 at 112.16.
c, L. Riker. Newberg, N. Y. $50 at
1902.
Davis Bros. San Francisco. $4,000
at Ill
Merchants National bank. Richmond.
Va. $3.50 at Ill.
First National bank, NATION. Ill.
s12,500 at 11450
Il. P, Goldschmidt, New York, $4,000
at 111.03.
Walter z. Frew. Long Island, N. Y,
$1,000 at Hiss.
Kidder. Peabody & Co., Boston, $780,