The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-01-10
BATTLE OF THE BOND BUYERS.
THE MORGAN SYNDICATE To BID
FOR THE ENTIRE ISSUE.


About los and VIII he for the
Whole Issue or NOne-In Addition
10 buying the bonds the Syndicate
VIII Furnish S33. 1888, ,333.33 In Gold
in Exchange for GreenbaclSs.
New York. Jan. 9.-From a subscribing
member OF the J. 2. Morgan bond syndi-
cate. the following facts have been OBJ
tanned:
The syndicate expects TO secure the en-
tire SiOO,0O000O four per cent. bonds which
are TO be sold by the treasury on Feb. s.
and expects TO be awarded the entire $780,
000.oo0. 1t will take all or none.
The reason for Mr.. Morgan's confidence
Of entire success is that he will make an
offer so advantageous that no other prop
osition can stand In his way.
This offer is to purchase the entire $780,
100000 paying principal and premium In
gold. and in addition furnishing an
amount i'm gold equal to one-third OF the
issue. $SS, SS3. 1888. in exchange for green
backs. The government gold reserve Will
thus not only be brought up to the recog-
nized limit. but will have large surplus
for its protection.
The price which the syndicate will Of
fer is not exactly known by any one be-
side Mr.. Morgan. 1t will be considerably
more than the l0iia paid last February.
This low premium was paid because of the
provision in the contract compelling the
syndicate to protect the treasury reserve
No such contract will be made this time.
Therefore higher price will be paid. The
figure Is believed to be 10S
The syndicate is now accumulattng gOld
from every available source.
NTar,, ,f.ssa 20 A UNnlIaafa
liberty to make individual bids beside the
syndicate bid.
This is the state Of affairs to-day; The
position will probably hold until FEB .,
without any change Of important details.
The President and Secretary of the
Treasury have no agreement, private or
public. with the syndicate. They know,
however, what are Mr.. Morgans inten-
tions, and knew IL when the public call
was issued.
Washington, Jan. 9.-Secretary Carlisle
expressed the opinion to-day that the new
bond issue will be a success. He did not
intimate whence the gold would come, but
he spoke with a full knowledge of the
number Of inquiries made for blank forms
for bids and the informal offers already
made. The mails to-day brought in quite
a number of inquiries for blank FORMS on
which to make bids, ana in some cases
persons desrous of subscribing stated the
amount they wanted and the price they
would offer. These figures, OF course, are
regarded as informal and when possible,
those making them win be communicate
ed with and blank forms will be sent them,
so that they may comply with all the res
quirements and make their bid In regu-
lar shape A circular letter of instruc-
tions to prospective bidders was issued
to-day. IL says: 1.-THE subscriber should
state plainly the amount of bonds desired,
the price which he proposes to pay ana
the place where the bonds should be de-
livered, which may be the subscriber $
home or any other more convenient place.
He should at the same time state
whether he desires to deposit the amount
of his subscription at the treasury depart
ment in the city of Washington or at one
of the following sub-treasuries, viz. New
York, Boston, Philadelphia, Baltimore,
Cincinnati, Chicago, st. Louis. New Or
leans or San Francisco. Deposits at San
Francisco must be with exchange on New
York
The bonds will be issued in the follow
ing denominations, viz: Coupon bonds,
$50, 500, $500 and $1,000; registered bonds,
$50, 500, $500. $1,000. 5000 and So 0O0"
The gold reserve at the close of business
to-day stood at S57, 7l5. .S26. The withdraw
ais to-day at New York were S206,OOO