The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-02-05
FOUR THOUSAND BIDS
The Big Bond Negotiation
Numerically a Grand
Success.
FIRST RATE PRICES TOO
Subscriptions for the Loan
More Than Five Times
Over, From Par to
119.
NUMEROUS FUNNY LITTLE BIDS
Carlisle Cheered When the Open
ing of the Proposals
Was Begun.
NUMEROUS FUNNY LITTLE BIDS

~ - ee-'
WASHINGTON, Feb. s. 1sss.-Bide for
s1Oo, 100000 thirty year four per cent.
United States bonds were opened at the
Treasury Department at noon today un-
der the conditions prescribed in the cir
cular issued January 6 last by Secretary
Carlisle. The principal condition is that
the bonds must be paid for in gold For
the convenience of the purchasers, the
bonds may be paid for in instalments as
follows
Twenty per cent. at the time of the
notice of acceptance and ten per cent
at the end of each fifteen days there
after
The present issue of bonds is the fourth
since February /. 1894, all of them having
been made ostensibly to maintain the
Treasury gold reserve. The several issues
have BEEN
February. 1894, $50, 100000.
November. 1894, s5oOOo 900.
February, 1895, So. 400.
There were two hundred and thirty
eight separate bids received for the first
loan of s5o,ooo,00O i've per cent. ten year
awarded were as follows:-
Bonds at 1a7.a2s-Bid s42.sS6,s5o. al
lotted, s4o,704,7Oo
Bonds at higher prices than 1928.
ss,2s5,soo.
Under the second call for s5o,OOO,o0O
five per cent. ten year bonds, three
hundred and ninety-four separate bids
were received as follows:
Amount of bids at 16.SSes $50 900, 900
Amount of bids below 116. $685.. :. s., ,776, 100
Amount between 116.SS9S and
lI.Ufi-. .-- .....--. .--...-.-...-. 5,629, SOO
Amount at 1170T.... ...... ...... $4,000, 900
Amount above u7.0T.... ........ 935, $50
The bid of 117.O7 was made "all or
nothing by a New York syndicate and
this bid was accepted. On February 8,
1885, the third issue of bonds was award
ed under contract to the Morgan-Bel-
mont syndicate. It was for s62.S15,4OO
four per cent. thirty year bonds, and
the price paid for them was 104 1909
The bids were opened in the room of
Secretary Carlisle, an apartment about
40 by 25 feet. A large table was placed
at the south end of the room, overlook.
ing the Potomac River and the Wash
ington Monument, at which table sat
Secretary Carlisle, Assistant Secretary
Curtis and several clerks. IN front of
and every seat was taken by those who
had come on in person to present bids,
and many were compelled to stand. Hun
dreds of millions of dollars were repre-
sented. Nearly all those present as bid
ders came from New York. but there was
a sprinkling of inanciers and bankers
from Chicago, Cincinnati and other
Western cities, and some from Boston
A large tin box was placed on the
table shortly before twelve O'Clock 1t
contained the bids. They were done up
by days and upon each package was
marked the date on which the bid was
received.
Among those present were:-Mr.
Wormser. OF Wormser & Bros, New
York. ex-Representative Straus of New
York: L. G. Hampton. representing John
A. Stewart, United States Trust Conn
pany, New York: representative of J.
T. Woodward, of the Hanover National
Bank New York: sohn A. McCaul and
c. c. Baldwin. Of the New York Life
Insurance Company. New York; Mr.. Ed
man. of Speyer & Company, New York;
Mr. Lehman, of Lehman Bros. New
York: Mr.. Burns of the American Ma
tional Bank. Kew York: Nlr. Redmond,
Of Richmond. Kerr G. Company, New
Yor1; x-Representative Coombs. of the
Manufacturers Trust Company. of
Brooklyn, N. r; x-Representative Hen
bricks. of the National Union Bank. of
New wyork; Mr. Kemp, Of the CONNER
cial and Farmers Bank Of Baltimore.
Md; Mr.. Toulmen. of the Shoe and
Leather National Bank, OF Boston; Mr.
Graham of the Boston Trust Company,
Boston. Mass: P. c. Chandler and Mr.
Lawson. of Boston. Mass; James r.
Blair & Co.. of Brooklyn, n. Z; Mr.. Par
ker. president Columbia National Bank
Of Washington. D. c.; J. Pierpont Nor
gan. of New York
Under tine immediate charge Of Assist
ant Secretary Curtis the following COM
mittee opened the bids:-James H. Eek
els. Comptroller of the Currency; Daniel
n Morgan, United State Treasurer. and
A. I. Hupntington, Chief Of the Division
OF Loans and Currency Secretary !: Of
nee; Mr. Burnett Of the Investment Cor
poratfon Of New York. Mr.. Chandler of