Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-05-09
THE BOND HOLDINGS
Assistant Secretary Vanderlip Talks In
terestingly on the Subject.
Exchange of Coupon for Registered
Has Gone on, but No Marked
Consolidation.

Assistant Secretary Vanderip of the
Treasury Department gave to a represen-
tative of The Star an interesting interview
today on the subject of bond holdings. He
said:
Since the original issue of the Spanish
war loan last summer there has been a
marked movement in the direction of the
exchange of coupon bonds for registered
bonds. 1t was expected there would be a
movement in that direction. but it Is graft
flying to find 1t has not been accompanied,
to any great extent, by the consolidation
of holdings. Even after this exchange 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 lndi-
yidual accounts still continues much larger
than for any other issue
The total amount of registered bonds
originally applied for by subscribers was
$40 VgO the remainder of the S2oo,GoO,ooo
offered being taken in the form of coupon
bonds Subscribers began to send IN the
coupon bonds and ask for registered bondS
as soon as the securities reached thet
hands BY the end of the first quarter, NO
vember /, 1875. the amount OF registered
bonds had increased to So1SI6,oOo. by the
end of the second quarter the number OF
registered bonds had increased to Sso9ll,-
900 and by the end of the quarter just
ClOSeu 10 SI".b'o,'"-
National Bank Holdings.
THE holdings of registered bonds by ma
tional banks have naturally increased. II
has been largely the demand of the banks
which has KEEP, the market up to the hlgh
premium that has ruled. With the begin
ming of the first quarter, November /. lS9S
there were 416 national banks holding an
aggregate of Sd 141 DO. That has now In
creased to S6S banks and the holdings
amount to 800. 9.341 1tj0. The number of in
djvidual holdings of registered bonds at the
end of the first quarter was IL ,.46 amount
ing to $29,iUS,Is0. AT the end OF the second
quarter the number of holdings had de-
creased to 1854 and the amount to SIS
SCI, 300. During the quarter just closed,
however, the individual holdings, although
showing little further decrease In num-
Der. have largely increased in amount. the
total number of accounts now being "a, 44S
and the amount held by individuals $34 .G}f,
80. The average holding of each national
bank at the end Of the first quarter was
SJ3. .33s; at the end of the second quarter.
S6i,422 and at the end of the quarter just
closed. SIS, 1866.
The wide distribution in the hands of
small investors is shown by the average in
dividual no dings of registered bonds. At
the end of the first quarter the 1900 indi-
VtduaI accounts showed an average holding
Of sos. At the end of the second quarter
SSO9 and at the beginning of this month,
Sg96 The total number of registered ac-
counts opened in the registers office TO
May l was 1888, and there now remains
open on the books of that office 1876,
leaving 1O623 which have been balanced
and closed. The total amount Of registered
bonds allotted on original applications was
$oSl4,NOn, and up TO May / there had been
So-,h"4,o4O coupon bonds exchanged for
registered bonds, making the total number
of registered bonds outstanding Nav /
$93 67s,O4O.
No General Consolidatinn