The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-01-07
SECURITIES FOR SALE.
One Hundred Millions in Bonds
Offered.
PUBLIC Ar LARGE CAN GET THEN.

Four Per Cent. bonds To Be Issued In ne-
nominations Low a. S5O-The Call
WIN Demonstrate Whether the New
York Syndicate Controls All the Gold Ia
the Country or Not The Call Issued at
Midnight
WASHINGTON, Jan. 7-One hundred
million dollars in bonds are offered to the
people Of the United States, and they
have until the lst Of February to decide
how much thoy will take. President
Cleveland has decided 10 make popular
loan In the fullest sense Of the word. The
4 per cent bonds of the government win
DC offered in denominations as low as $50,
and payments may be made at sub-treas-
uries ana designated dcpostorics all over
the country, even including San Fran
cisco, where exchange on New York will
be collected.
In his Official circular issued just before
midnight sunday night Secretary Carlisle
even goes further, and declares II between
now and the date OF delivery Of the bonds
congress authoriz,sany new form OF se-
curity the people shall have a chance at
Chat too.
TO Decide who Controls the Gold.
Tho call Will dmonstrate once for all
whether tho Nop York syndicate controls
all the gold in The "ountry or not. The
syndicate vii, bee expected to he among the
bidders, bnU only in competition with the
pfupic themselves, and with every nation.
al bank in the country. The call for a
popular loan was not decided uDon until
q ftfff a
reef from headquarters that Secretary
Carlisle was preparing some sort OF an an
nounComent for tAe public, hut what its
nature was could not bc surmised
It was " O'Clock when the confidential
messenger of The secretary of the treasury
crossed th0 street 10 tho telegraph office,
and even stopped 90 take bite Of lunch
before he delivered the long-delaycd call
Tor bonds 60 thc proSS associations. The
pr ,,suro on the administration both for
and against a popular loan has been tre-
IN ndous. Many ot the Republican fnan-
clcrs urged public bids for the bonds. II
for no more than four or five days. IL
was not generally expected the president
would take tho risk OF leaving the bids
open until the end Of the month That
he did 50 may be regarded rs evidence
that ho has completed arrangements to
protect the reserve in the meantime.
Were la Good Faith.
The arrangements made by Banker
Morgan and others probably were In good
faith, as they believed they they held the
key co the situation. The Morgan syndi-
cate was proceeding undcr no formal con-
tract, but merely IN anticipation of the
a gyny ssqutis s{'6. whrsn.p M go
-y-zss frrsrfr-ry- puruiar rs II Is
possible under existing laws The denom-
iuations are placed as low as 500 so that
every one in the co>ntry with a little nest
egg can become a creditor of the govern.
ment.
The gold TO bo paid for tho bonds is 70
be handed in on the installment plan, 90
per cent. when tho bids are accepted and
20 per cent. every ten days thereafter The
treasures at Washington, New York,
Boston, Philadelphia Baltimore, Cincin-
natl, Chicago, 81 Louis, and New Or.
loans will receive the bids and the gold,
thus insuring a wide distri button over the
country lhe bids are made receivable
up 90 Feb. ., or thirty days from the date
of the call, and the bonds will be ready
for delivery ten days later As these
bonds are to run twenty-nine years from
the lst day OF next February and bear
per cenJ. interest, they will prove popular
with national banks all over the country
Us "a basis tor circulation
WIN he Dated Feb. 4, 1895.
The bonds will tc dated Feb /, 1895,
and years coupon will b. detached 1t
is presumed this was done for two reasons.
Ia the hrst place, the same plates rs those
used last year may be used; secondly, and
more important, 1t makes the new popu-
lar loan Identical ia every particular with |
the issue OF last February made to tho |
Morgan Belmont syndicate.
This gives the public an opportunity to |
tx q basis Of prices Tho per cents sold |
10 the syndicate have boon up over l23 and |
We're selling last week I'm anticipation OF |
the new issue. at llfls The best the syndi. |
cate felt able 20 offer, according to cur |
rent report, WIS l01ai with commission |
)f per cent, ur l0i+f, which Is slightly |
better than last year. when the sale was |
made undcr contract at 3I9. Those
bonds were Immediately sold To bankers |
IN the syndioute Tor ! ~, and jumped from
90 ID points WHOM pat on'the open mar