The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-01
GOLD IS At ! PREMIUM.
Bullion Dealers in New York Pay
Margh.
NEW BOND SYNDICATE ORGANIZED.
About tho Same Price TO BE Paid as Tor
the Last Issue Parties to
the Did.
IND SYNDICATE ORGANIZED.

New York December 3l-The Evening
Post in its last edition says:
A contract was signed this morning by
all the members Of the now bond syndr
cate subject to the formal acceptance OF
the government. The syndicate agrees to
furnish one and half million ounces OF
gold, amounting to aboit s2oo. 900 ooo' the
government to take one-half Of this sum
and have the option of taking the other
half and deliver 4 per cent thirty year
coin bonds at about the same price as
paid for the last issue Of bonds the mana
gers of the syndicate to get commission
of per cent. The price at which the last
bonds were taken was 1o4.49 and they
yielded SM per cent interest.
The same paper says further: The most
interesting piece Of news in financial cir
Giles today next to the report that con-
tract had been signed by j. P. Morgan
Co for a new government loan) was tie
announcement that Lawson, Weidenfed
e. Co. had ordered $4,000 In gold from
London and that 1t will leave on Saturday
The firm mentioned is a new one. A mem
Der of 1t when asked for some particulars
of the transaction could only say that the
firm wanted the gold that they were not
acting for any one else, and that 1t was
necessary they should procure the gold
from outside the United States. A curious
thing In connection with the importation
of gold by Lawson, Weidenfeld & Co, Is
that the bankers who sold them the ex-
change on which 10 import the gold VII
have export gold to cover their bills. For
eign bankers. however, said that no doubt
would occur simultaneously In conss-
quence of the unintelligent action of corr
gress and the terms on which the sub
scrhtions to the new government loan
! would be received
II was reported today that the syndicate
I In the first instance was made up by J, p.
Moran & Co.. the City National bank,
the Hanover National bank and German
hank that Messrs. Morgan & Co. would
take 100000 and the City and Hanoy ell
banks S5.0OO,0o0 between them and the
German house s25.000O0. O.her banks ant
institutions are to be allowed to partici
pate at price In what is virtually to b.
blind pool. the four members of tn
syndicate mentioned handling the bonds
Further proof was received today of the
orders given by London bankers to CLAIM
gold for all coupons payable in sold, du
on January l and remit gold, or. as "
some cases. retain It subject to order. II
the event Of n-payment in gold, protes
thereof is to be made.
Many bankers also received similar in
structions today from interior banks will
regard to coupons of the Pennsylvania
railroad company and the other companie
falling due on January 3 These barks
some Of them in Pennsylvania, instructe,
their agents here to remit the gold t,
them by express.
Bullion dealers today offered Is cen
premium for gold. but could obtain non
at that price. The lowest offers wer
made at ~ cents premium and at tina
rate one foreign house said it could be i'm
ported at profit. 1t was andounct d a
noon that the gold shipped fran this cit
to London on last Wednesday had bee
purchased for American account in Loi
don and would be returned OH the sam
steamer. The price paid was a half penn
per ounce higher than the Bank of Eng
lands bid.