San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-02-05
Jour NATIONAL. LOAN,
BIDS BEING OPENED TODAY IN
WASHINGTON. -.a.am.
The Bonds Will Be Greatly OversubCribed,
Chiefly by the American ...
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WASHINGTON Feb. 5.-The sec.
rotary of the treasury today, open
ed bids for the purchase uof $780,
100000 United States 4 per cent,
thirty year bonds, which had been
received Under his call, dated
January 6last. The bonds, which
are redeemable in coin, will be is
sued in denominations iof $50 ior
multiples of that sum, as may be
desired by bidders. Only, United
States gold coin or gold certificates
will be received in payment of the
bonds. Under the terms of the
secretary'sa circular, calling for
bids, the first payment of 90 per Cent
and accrued interest must be made
upon receipt OF notice OF accept
ance OF bid, The remainder of the
afr1outitsy, bid must be paid in in.
stailnients OF 10 per cent each and
accrued interest fifteen days there,
after. Accepted bidders, however,
are. allowed to pay the whole
amount bs their. bids at the first
installmefit or at any. time, preyi-
GUS to maturity OF the last Install.
ment, provided all previous Install
ments have been paid The bonds
are dated February |, 1895, to run
thirty years from that time, and
will therefore mature February /,
1925. At 9 O'clock q. M. the force
OF clerks in the loans and CURRENCY
division began, the task, OF
opening and scheduling the
bids. The clerks employed in
this work are not allowed, to
leave the room until the time ,f3rI
receiving the bids has closed, SO,
that by no chance could any in
formation in rega d to the bids be
prematurely disclosed. The bids
were, announced from schedule
already prepared in the secretary's
office, where large mum Der OF bid
ders and representatives . of the.
press had gathered. .tf lis nj Dagrp
Secretary, Carlisle entered the
room at IL O'clock. The room at
that time was SO densely crowded
that it, was, with much difficulty.
he could make his way to his seat,
The interest manifested in the
opening OF bids far exceeded that
attending either OF the other bond
sales and IS early as69:30 O'clock
prominent capitalists from New
York and other eastern CITIES be-
gan to arrive IL at ethel3 treasury.
Many OF them called on Assistant
Secretary Curtis, who explained
what arrangements had been made.
for the opening. The opening and
SEIZED uliDg Of bids was conducted
under the direction of Assistant
Secretary Curtis by committee,
consisting of Mr.. Morgan, United
States treasurer; Mr.. Eckles, comp.
troller OF the currency; and Mr..
Huntington, chief OF the division
OF loans and currency. All morn
ing bids came ia rapidly, Swelling
largely the already long string OF
bidders, great and small Every
train and every mail brought lot
OF bond bidders and bids, and at
ii O'Clock the expectations ct the
treasury officials we're rising antt
predictions were made freely that
the loan would be largely over-sub-,
scribed and that the bonds woulR
bring a good price. At l.! o'clock
the large crowd assembled at the
assistant secretary's door was al
l., a. 49, II
soon occupied.
At 1915 pm. Mr.. Eckles, of the
committee, announced that, up TO
this time there had been received
3,797 bids, aggregating $3S0, 2322, POO
ranging in price from par TO ST. IS,
and a fraction. Other bids, not
yet opened, would probably raise
the NJ 2 gm 1lS4l TO- t4,5o0,r taggregating
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