The Portland daily press., 1896-01-01
A NEW BOND ISSUE.
Carlisle are satisfied that gold must be
had to prevent finano ial crash.
Belief That Loan of S2O0, O0O, 900 Will Be
Asked For.

Asked For.
New York, December 31.-Wall street
remains in a state of expectancy regard
ing the forthcoming issue of government
bonds. j. P1erpont Morgan, who IS
credited with being the head of a syndi-
cate of bankers formed to take the bonds,
was occupied nearly all day yesterday in
receiving bankers who called upon him
and visiting those who are known to be
in the syndicate.
| 1t is generally accepted that the official
announcement will be made within
few days. 1t is believed it will be in
the form OF proposition from the Secre-
tary of the treasury calling tor portion
| of the proposed loan.
| A prominent banker said: "The gov
ernment has not committed itself in any
way in the matter. The bankers syndi-
cate has not received proffers of bonds
| from the administration. The confer
ences held among the bankers are merely
| to determine just what can be done at
the proper time, and, that matter having
been practically decided, we await the
pleasure of the government"
| 1t is thought here that in order to as
sure the maintenance of the treasury re-
| serve in gold during the remainder of his
| term of office. President Cleveland will
| ask for q loan of $500, 600 600. A portion
| of this-probably one-half-will be sold
| lilu46ulhtelt. stuQ bl0 pdidUC0 Wlll U0
| held by the syndicate under an option,
subject to the needs of the treasury.
| 1t is said that early last week $780,
| 900, 600 was represented by syndicate
formed at that time, and that the recent
conferences of the bankers was to pro-
vide for the bonds above that amount,
should the government desire to use
them.
| Many foreign bankers have received
orders for large amounts of the bonds.
One German house has expressed fear
that they could not obtain enough to fill
their orders.
German Bankers Want 1t.
Berlin, December 31.-The United
| States embassy mere has received a num-
Der of offers from German banking firms
OF the first class to take $780, 000,000 of
the proposed new American loan at "a
per cent interest. 1t is reported here that
! theeUnited States treasury will give only
| three per cent. or at the most IL.
i The Deutsche bank is an anxious bidder
/ for the loan. Some firms profess to be-
! lieve. THAI there will be an exclusive ten
der for the loan within the confines of the
/ United States.
What the London Bankers Have to Say
London, December 81. Information
| obtained from British bankers and flnan-
!
regarding the proposed new American
loan shows that the price of the loan
made to the syndicate will be the same
as that OF the last Joan, Or at least, only
slightly less favorable to the United
| States government.
The banking firm of J. S. Morgan &
Co., say that nothing'has yet been settled
in regard to the placing of the proposed
| loan here
The Seligmans say that the loan will
be taken at per cent in coin, not in
gold.
sherman's Resolution.
Washington, December 31.-The follow
ing resolution has bee II offered in the
Senate by Mr.. Sherman of Ohio, who
| gave notice that he would address the
Senate on it next Friday:
Resolved: That by the injurious legis-
lation by the SD Congress, the revenues
it's necessary expenditures aud the fund,
created by law for the redemption of
United States notes has been invaded
| to supply such deficiencies of revenue
that such misrepresentation of the re-
sumption fund Is of doubtful legality
and is greatly injurious to the public
credit and should be prevented by restor-
ing said fund to the sum not less than
81, O00. 600 in gold coin or bullion, to be
segregated from all other funds, to be
paid out only in the redemption of Unit
ed States notes, and such notes when
redeemed to be reissued only in exchange
for gold coin and bullion
/ The New Bonds.
New York, December 81.-A form of
application for participation in the syn
dictate for the bond issue is being circu-
lated among the banks and trust compa-
MES which states an agreement Is pro-
posed with the treasury substantially the
same as that of February. J. p. Morgan
q Co., bsing managers of the synicate
and reoceiying for their services q com
mission of one per cent. Gold to the
amount of II, 150,0 600 ounces may be
j called for by the treasury, OF which half.
that Is 5,0775, 600 ounces. isSa firm sale.
the other half being in the nature of
option. No subscriptions of less than
$lOo, 100000, will be considered 5y the syn
dictate.