The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-01-01
GOLD FOR THE G07EsNMENT.
THE TERMS on WHtCH THE BoND
SYNDICATE WILL FURNISH IT.

The bankers Oner n. 100000 Ounces
In Exchange for 4Per Cent. Thirty
Year Coin BOndS ne 1919, Less
Commission of L Per Cent.-Haff OF
the Gold OGered at the option Of
the Government.
New York, Dec. 3l.--An evening paper
says; "A contract was signed this morn
ing by all the members of the new bona
syndicate subject to the formal acceptance
of the government. The syndicate agree 10
furnish l1,50.N0 ounces of gold, amount
ing to abo9t S20000O.OO0 gold, the govern
ment to tai ie half Of this sum first, and
to have ~ option Of taking the other
half. and deliver four per cent. thirty
year coin DUrds at about the same price
as paid for the last issue Of bonds; the
managers OF hhe syndicate to receive a
commission Of per cent. The price at
which the lass bonds were taken was
1919. at which they yielded 3A per cent.
interest.
The foregoing report Is pronounced
premature by leading bankers. The sub
scriptions for the new loan, according 10
banking officials, foot up anywhere from
$lO00OOo 900 TO Si55.OOo.0 900. Report has II that
J. p. Morgan has secured $25.O00,000 of this
bank, an equal amount. The Deutsche
Bank of Berlin is credited with being
ready to take another $250O0,00O A ru-
NOR was current that Russell Sage was
personally interested In the syndicate 20
the extent OF $l0000.O00, but this was sub
seQuently denied
''rhe form Of the application for par
ticipatiOn in the syndicate for the bond
issue circulated among the banks and
trust companies to-day states that the
agreement proposed with the treasury
February, J. p. Morgan & Co. being the
managers OF the syndicate and recev-
ing for their services a commission Of /
per cent
Gold to the amount OF II 10000 ouncess
may be called for by the treasury, on
| which one-half, that Is 5,575000 opnces,|
nature of an option. No subscriptions on
| less than 100000 will be considered by the
| syndicate, and the gold to be paid in
/ must not come from the treasury"
The demand for gold. for the purposs
| OF subscribing TO the new bond loan, led
| to an advance In the commission paid
| Tor the metal, and transactions We're rel
/ ported at one per cent. It Is reported
/ that the $i,700,00O gold, which was shippe
| by the Paris last week, has been order
/ reshipped TO this country and viii pr
ably be used in paying for bonds.
Berlin, Dec. 31.--The United States
i bassy here has received a number of
fers from German banging firms Of
/ first class to take $500, 10000 OF the
/ posed new American loan A3M per
! interest 1t Is reported th8&sske ~
| States treasury Will give Only per
or at The most 3lk. The DeMW Wch
| Is an anxious offerers for the N ~ -
| firms profess 10 believe <hat n
i an exclusive tender for TIE
/ the confines of the United ST
| London, Dec. 31.--The dea
| Stock Exchange during the
| striCted and the market close
! political situation Is not
| American railroad securities
| ing and attract little attei
| news from the Transvaal eau
ness in mining stocks. SPANS
| rose q on the news from Cub
| The Standard will to-mot
| connection with the new Am
| 1.-The loan is a mere raising =
| enable the United States
| appearance of solvency
| che present financial sysz
| I'm debasing the currencX
| would not be extravaga<