New-York tribune., 1906-07-21
EAGER FOR CANALBONDS
HIGH PRICES OFFERED.
Issue Many Times OuersubscuBed-
TSco Per Cent Securities about 10g.


Isco Per Cent Securities About fOG.
Washington. July 2O-Bids we're opened ~ ia
Treasury Department late this afternoon Tor IN,
$S0OOOOOO per cent ten-thirty- Panama canal
bonds under Secretary Shaw's circular Of July
z, and although no awards viii be made until
tomorrow or later. Il is evident that the entire
issue has been subscribed for at an average Z
from 1O3.94 to 1886. Secretary Shaw and other
officials Of the Treasury Department expressed
themselves highly pleased and entirely satisfied
with the figures obtained.
The total number and amounts of bids unads
will not be ascertained until tomorrow. but it -
apparent that the whole issue has been sub
scribed for several times over. The largest and
best single offer was that Of Fisk & Robinson.
OF New York who made six bids Of SjO00N1o
each at an average of 1O2S5. Smaller bids at
higher prices however. will probably reduce ths
amount which may be awarded 10 them to about
$1J.OO0.OOO. One bid OF 1O6 for the whole issue
came from man named Lindsay. at New or
leans. but on account OF conditions named and
for other reasons the bid was not considered.
Several telegraphic bids received zoo lats
to be considered but the prices named were too
small TO be successful
The Secretary having announced that tn.
bonds would be numbered serialIy. beginning
with the highest bid. one offer was made AZ 12s
for $1,000 thus securing to the bidder bond
No. l.
An examination Of the best bids shows that
offers OF 1O4 1-16 and up aggregated $1JS49. .se0s
1O4 to 1O4 1-16 aggregated S1.1OO,SsO; 1857 70
1O4 aggregated S1417SOOO Following are the
names of some of the bidders for the larger
amounts whose bids were as high as or higher
than 1858. the lowest figure at which any OF
the bonds can be awarded:
Frank L. Kuhn 100000 at 1O49s; N J. Dyke.
$2O0OOO at 1O456; n. ]. Dyke, S2OOOO0 &C
1O4O6; n. j. Dyke. $2OOOOO at 1O356: NIsr-
chants National Bank. of Philadelphia $1OslG-
600 at O43ti: Victor Spanner. S6OOOOO at 1OA31s
H. C. Bonner, S2OOOOO at 1O4SO; Fisk & Rob-
insOn. S5.OOO.OOO at 1O42S; Merchants Bank. ~
Philadelphia 81 OOOOOO at 104 16: Fisk & Rob-
inson. S5OOOOOO at 1O41O; Henry Fl. Deane.
100000 at 1O4O7; Samuel Byerly. S1.OOO.OO0 az
1O3975; Samuel Byerly. S1OOOOOO az 1O8g9s
Samuel Byerly, S1OOOOOO at 1O412: B. H War
ing S3OOOOO at 1O4125; John W. MITCHELL
Washington d c., $5OOOOO at 1O4: Second Ma
tionaI Bank Jersey City. S1jOOOO at 1O4; Eva
NEEDING Washington. d. c.. samoan at 1O4s
Merchants National Bank. Philadelphia. S1.O00.-
OOO to 1O3,9S; Fisk & Robinson. New York. S.
100000 at 1O3S9; John H. Waring. Washington
D. c. SGOOOOO at 1OS.S7i; H A. Lunsford. $780,
600 at 1879; John J. NEEDING. S5OOO00 &C
1O3.75; Fisk & Robinson. S5OOOO0O at 10375s
Hanover National Bank. New York. $1GfNO0o
at 1871; Merchants National Bank. Philadel-
phia, 81, 100000 at 1O369. and Fisk & Robinson.
S5OOOONO at 1OS.63.
The opening Of the bids for the Panama Canal
bond issue has been awaited with much interest,"
in financial circles here. Secretary shaw. on his
recent visits TO this city. held several confer
euces with leading hnanciers with regard to
placing the bonds The result is regarded as a
remarkab BILE demonstration of the prosperity OF
the country and the strength of its financial
system.
It was said by a well known banker that no
other country had ever fOated a per cent bond
issue premium.
The Japanese government in the spring of
1905. before the battle of the Sea Of Japan, au-
thorfzed an issue of Az per cent bonds at SIS.
A large part of the loan was taken in this cOun-
try. The bonds fell a trifie below the issue
prfce but after the action which virtually
marked the end Of the war rose to about 93-
They were quoted yesterday at 94A- second
series of these bonds was issued later at the
same purchase price They were quoted yes
ter1ay at 911s Besides these japan has Issued
two series of 6s the first of which sold yester-
day at 99s4 and the second at from 90 to SSst-
It was understood that two local syndicates--
one headed by the National City Bank and the
other by Harvey Fisk & SOns-were organized to
bid for the entire Panama issue IL was e1~
pected in Wall Street that the bonds would Feal-
iZe about 1O4
The success of the issue is regarded as par
tiaIlv due to the peculiar currency situation but
also as constituting distinct personal triumph
for Secretary Shaw