The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-10-18
BONDS BOUGHT, $S,25S,4oo.
ygju - INPECTED TO REACH
SLJ .OOO.OOO TO-DAY.
, .um Of $4,000. OOO VIII Then he APP
plicublc To the Relief of the Money
.irinscnC,-3Ond selling syndicate
,Iadc known No Prolt in the Deal.

.,rinscnc,-3ond Selling syndicate
Made known 40 Pront Ia the Deal.
2, ,,cordduco with the agreement reached
OIL, Thursday between the represent tives
... 'n.ir % ~" chief bond houses and
,..,,..r'a' 20" of the Secretary of tho
,..,.grv, un the tcrms detailed in THE SuN
a., Friia-. q. c59 ~, 81 the per cent bonds
1905 were turned into the United States
ST.. Treasury Yesterday and tii ,293, 1s9. os
,- cash vas paid In exchange. relief to that
,,.,l.. long ~ orcc given 10 the local
o. u"v market
d., It j. expected the members OF the
...d -rI.lng syndicate will turn into the
-.D.T,el-ury enough additional bonds to
ling ;p II" amount supplied by the m
,u NiunU" Against the purchase Of
,hr.o bonds by the Treasury, the Sub
Treasury viii havc paid. when the trans
a.i.n r., ,omple'"d, total Of more than
.""uon
no" syndicate supplying tie bonds con-
-l.r- # Harvey Fisk 4 Sons. Farson, Leach
\ c. ti-> 4 Robinson. Nermilye 4 Co.
and ih, Na'i lnal Civ Bank II sells q, OOO. =
Uu,f bonds ~ price OF l3s fat and so Co.,
o., more at 1872. and interest. which is
pIsly,Innt to II price Of about 1850 70
l3,m TIE block Of sjoo0.OoO az ISs fiat
formed part oi the bonds turned into the
Sr..Iret.ury Yesterday The remainder
vr-" uu sh' under Instructions telegraphed
Ay Secretary shaw from Chicago 10 Wash.
rAfon and forwarded thence to Assistant
treasurer Conrad y Jordan here.
,uG"i tLl> notice. sonnet ninK more than
sl,n rou &C bonds, outside OF those turned
IN Ly tho syndicate, were sold yesterday
b., lthcr holders. tn. amount paid for them
lrug included IN the slI 293. $50 disburscd
III, bulk uf the gold certificates OF large
denominations which We're given by thu
>'.i-lrcasury IN payment for The bonds
were paid over 90 the National City Bank.
which A. q matter of convenience acted as a
clearing house Tor he bond selling operation.
II was stated by the members Of the syndi-
cate TIA, there was no profit to them in
IN. transact ion.
On The STOCK Exchange the price of the
,rer cent Government bonds Of 1925 closed
Al an advance Of "a Of per cent. The
registered Is closed at 1891. bid. 1877. asked
against 1873 bid. 1877. asked. on Thursday
ard the coupon Il al 1877. bid. 1881. asked
against 49, bid, l3N asked on Thursday
Arthur Il Leach "f farscu, Leach & Co,
mado this statement;
There j. no profit to the syndicate MEM
hnr- in selling the bonds IL was done 10
relieve the money market, and the syndicate
members NcT" actually put 10 some eN-
pen-e The principal work of collecting
'1- bonds sold was done last week although
some were collected III the week previous
IN" IS, OUO, 900 bonds. which were bought
to-day az a price Of 1873 fiat. were collect ed
three weeks ago or So. They are the lot
offered 10 Secretary Shaw when he came
here - attend the new Gus, ON House corner
stone laying and which he then declined
After he had declined the ,fTer OF S. 900 ,OtN
IT bonds he Secretary in,imated that he
would agree 10 buy the s. 900 600 il We
would furnish an additional large block
Tie bonds We collected came from every
where"
The bond purchases are not expected
To count for much in this weeks statement
OF averages Of the associated banks; for
shhough the bonds delivered yesterday
wer. paid for over the counter az the Sub
Treasury, hey only figure for one day in
computing ihe averages. The local money
market continued vest erday to show easing
tendencies, Money on call opened on the
stock Exchange al per cent, which was
the top rate and ran down o per cent later
Al which rate the final loans of the day
were made. The ruling rate was a. per
cont Time money also showed an easier
Ton,