Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1896-01-24
MORE TIME TO PAY.
Bond Call Modified By Secretary
Carlisle.
THE LOAN SUCCESSFUL.
PIerpont Morgan Explains Dealings
with the Government to Late
Co-Partners.- syn
fc DiSSO'Wad.

with the Government to Late
Co-Partners.-The Syn
dIcate is Dissolved.
the following circular, made puoilc oy
Secretary Carlisle, modihcs the conditions
tor payment Oh the advertised bond issue:-
Treasury Department,
Office Of the Secretary,
Washington, Jan. -, 1885,
Treasury circular (No. 8, 1885, dated Jan
uarv 6. 1896, inviting proposals for the pur-
chase of one hundred million dollars
CSt 900. .OOO} of United States per cent.
bonds is hereby 80 modified that, afte- the
Payment Of the first installme1t OF 20 per
cent. with accrued interest, as required IN
said circular. the remainder Of the amounts
bid NAV be paid in installments OF III per
cent. each. and accrued interest, at the end
Of each fifteen days thereafter; but all a@'
cepted bidders may pay the whole am )unt
If their bids at the time Of the first install
mcnt. and all accepted bidiers who have
paid all instalment5 previously maturing
may ply the whole amount OF their DIS az
any time not later than the ma.u ity OF the
last instalment.
accepted bidders who pay the whole
amount at the time of the first instalm7nt or
anv date thereafter, as above proyileI, will
be entitled to receive at the date OF the pay
ment the whole amount of bonds awarded to
them, and accepted bidders who pay by IN
,talnents will be entitled to receive at the
lates of such payments the amount OF bonds
paid for. - q. CAhLlohE'
"Secretary of the Treasury"
This modification of the call has been ex-
oected f)r aome ii ne. Blnkers all over tAe
country have appealed to the Secretary to
take such action, and by so doing, protec'
the money market from the dam)ralization
which the sudden withdrawal of 21OO, ,OOJ .OoC
of gold for bonds subscription woIlI cause
The Secretary and all of his assistants al
the Treasury Department were retlcent when
questioned as to the effect of the dissolution
!, of the New York bond syn1i'at9 which
Pierpont Morgan announced in circular
: letter.
, ASSURED OF SUCCESS.
= Mr.. Carlisle refused to say ythinS about
the matter further than that he could Dc
i quoted as saying that "the success OF TIL
] loan is assured" This would seem t
t demonstrate that the efficacy OF popula
loan has been so clearly made manifest tina
oven the administration is now convinced o
the fact.
The circular issued by PierpODt Morgan Il
New York was read with interest In Wash
lngton. The President in his recent lette
a to Senator Caffery declared that mo banker
l or 6nancier, has been invited to visit wash
ington for the purpose of arranging IN an
: way or manner for the disposition OF bond
= TO meet the present or future needs of tn
gold reserve" In the letter made publl
d from Mr.. Pierpont Morgan he begins: "Ol
/ the 23I of December last | was invited
II Washington for a conference.
/ Il Is true that in the Presidents letter
i nartly contradicted himself by stating thd
: "thoso charged with the responsibility
S maintaining our gold reserve have anxious
l. conferred with those having knowledge
e financial affairs and monetary conditions
> Nevertheless the President made lndire
u mention of Mr. Morgan, intimatinS that
was not invited to WashiI gton. Secreta
K, Carlisle refused to say whether or not
Vt had inv ted Mr. Morgan, or had confcrr'
or with him.
y INDIVIDUAL BIDS.
tie 1t was satrted at the Treasury Departme
N that the probable reason for dissolying t
l. syndicate was to giyo the membsrs chan
er to subscribe as individuals or firms for t
- bonds. If they remaired in the syndica
I'd they would not be able to put in private bi
- and the department intimates that tn
es would not then probably have secured
IL bonds.