Arizona republican., 1899-05-15
THE BOND HOLDINGS
Assistant Secretary VanderIip Talks
 Interestingly on the Subject.

] Washington, May H. Assistant Secretary VaLderlip of the treasury department gave an interesting inter- view today on the subject of bond hold ings. He said:
 Since the original issue of the Spanish war loan last summer, there has besn a marked movement in the 1 direction of the exchange Of coupon bonds for registered bonds. It was ] expected there would be a movement in that direction, but it is gratifying to find it has not been accompanied, to any great extent, by the consolidation of holdings. Even after this exchange l of coupon for registered bonds has gone on until the amount is now three times the amount of registered bonds taken out on original applications, the number of individual accounts still continues much larger than for any other issue.
 "The total amount of registered bends originally applied for by sub scribers was s3O,S14,OOO the remainder
 
 in the form of coupon bonds. Sub scribers began to send in the coupon bonds and ask for registered bonds as soon as the securities reached their hands. By the end of the first quar- ter November 1, 1898, the amount of registered bo,4ds had increased to $51,- S56,000. By the end of the second quarter the number of registered bonds had increased to SO,911 ,0OO, and by the end of the quarter just closed to s93, SIS, ,O4O.
 ''The holdings of registered bonds by national banks have naturally in creased. It has been largely the de- mand of the banks which has kept the market up to the high premium that has rulad. With the beginning of the first quarter, November 1, 1898, there wer 416 naticraI banks holding an az gregate of $22, ,147, ,220. Dhat has now increased to S68 banks and the hold ings amount to s59, 9,341, ,76O. The num- Der of individual holdings Of regis tered bonds at the end of the first quarter was 41, ,946, amounting to s29,- 706, 7S0. At the end of the second quarter the number of holdings had decreased to 35, ,634 and the amount to $28, ,S61 300. During the quarter just chased, however, the individual hold ings, although showing little further decrease in number, have largely in creased in amount, the total number of accounts now being 34 AS and the amount he'd by individuals $34,336,- 28O. The average holding of each na- ticna1 bank at the end of the first quarter was s53,33S at the end of the second quarter, S67, ,422, and at the end of the quarter just closed, s6S,366-
 The wide distribution in the hands of small investors is shown by the average individual holdings of regis tered bonds. At the end of the first quarter thel 42,O0O individual accounts showed an average holding of $708. At the end of the second quarter, S809, and at the beginning of this month, $996 The total number Of registered ac- counts opened in the registers office to May 1 was 45,939, and there now re- mains open on the books of that office 35,316, leaving 10,623 which have been balanced and closed The total amount l of registered bonds allotted on original | applications was s3O,814, 900, and up to May 1 there had been registered bonds, | making the total number of registered 1 bonds outstanding May l, $93, ,67S, ,O4O. | t@These figures go to show that there | has been nothing like the consolida- | 'ticn of these bonds in the hands of | large holders which good many peo ! pc anticipated In spite of the high | prices which have offered such at tractive profits to the original pur chasers of the bonds, and nOtwith- the demands by national banks wanting to secure them as basis for obtaining public deposits or new circulation, the bonds are to a large extent remaining in the hands of the original purchasers, and the issue is far more widely scattered than any previous issue of a government secur- ity."