The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-22
KUHN, LOEB & co. GET
$51,OOO,OOO ISSUE
Syndicate Bids tO6.O77 on state
Bonds. Making Premium
Of S3,1OO.OOO.
OVERSu BSCRIBED ) TINES
Prices of the t05 Bidders Ranged
From Par to 1O6-GOv.
Glynn Gratificd.
OVERSUBSCRIBED ) TINES

syndicate composed or kuhf. lsOeb a Co.
and wil1am a. Read & CO. was the
successful bidder for the s51 900, 900 state
sold ~ per cent. bonds issued to-day
The syndicate bid 106.077 for the entire
Issue.
The total OF the bids received for the
bonds was s2Ss.294.7 700. 4 price In
excess of that offered by the Kuhn Loeb
syndicate was bid by a number of bankers
for about $4,000. 900. but their offers could
not BE- considered In view OF the OFFER OF
Kuhn, Loeb 4 Co. 10 take all or none.
The state OF New York gets a premium
Of 80. 100. 900 by accepting the Kuhn Loeb
syndicate bid.
A syndicate composed of Harris. Forbes
4 Co. Guaranty Trust Company. Lee,
Higginson & Co, Potter. Choate 4
Prentice. White, Weld 4 Co. and kissel.
kinnicutt a. Co bid io5.5S7 for all or
none.
There were 495 bids. and three times
IS many bidders attended the sale as is
usual on such occasions. The bids were
TO lie opened at noon and for a quarter
OF an hour after that over 100 bids were
prevented personally. while heretofore but
three or four bidders have Iait in an APP
pearanco personally.
The prices bid by bankers. brokers and
syndicates ranged from 104ia up to 1O6.
while investors bid generally below these
figures. The smallest bid was one for
500 bonds at par from n resident OF
Troy.
The bond sale was the largest ever held
~ the State by s2l.000.00o.
II took the Comptroller's clerks six
hours to open the bids and they finished
their work at o'clock last night. when
the tabulations wera commenced. al
though every one admitted that there
would be u single allotment OF all the
bonds to the Kuhn. Loeb syndicate.
Bends Are for Canal and Highways.
The bonds are $4,000, 900 barge canal
and S21,0Oo,OOO State highway. a por-
tion Of the proceeds will he used to re-
tire S27.O0o.000 short term notes issued
last February. which mature on February
Of this year. These short term notes
were issued because OF the poor condi-
ton Of the bond market at that time and
also because of the few bids received
for an issue OF State bonds which tn,
State Comptroller tried to float at tina,
time
Gov Glynu said tonight that the sue
cess Of the bond issue was a reflection OF
the confidence OF the business men of the
State In the present administration. Wher
he was told that New York State A.:
jumped to 1878 on the curb this after
noon a1ter Inc Sdle He was piSdscu.
The Governor sent this message &c
State Comptroller Sohmer:
Permit me to extend to YOU my earn
est congr atulations on the success OF
the bond sale held to-day. The fact
that it brings to tho State a premium OF
over 100000 makes the result mos
gratifying. and I cannot help feeling thai
the sale I'm way reflects the confidence
Of the business men in the financial poll
,ta o. ho administration.
Figures Of the Largest Bidders.
Among the large bidders were the fol
lowing. with the amounts and prices;
Hcd.npyi, Hardy and company, New York
'S E9uissSls Trust compsny and T. ", Pres.
prich and Company. 100000. 1oI.o7 t'
rsr.on. SON 4 Co, New York n.27ccOc
Empire trust Company. New York. r,s5
Frederic Il Hatch and Company ans
Gilman a Clucas New York. si,Oooooo
- B. Leach and cemp.ny. New York
Clark, podse q Co. Axen'A 100000
ixI, ara Company. New YORK. 1870
S.iomon Bros. e. Hutzier, New York. ~.
ii.E 1 Robinson, New York. $4,000. 900
IsS. Th: tn iSsss, Co. New York
n. W Haisey a Co. New York. $4,000, 600
Ks.n. Taylor q Co. New York. $4,000, co'
American Exchanse National ~. ~ Bank INK a., ~
Bank Of America. New York $1,000, 900
M.ySgs,Ts 400 b ass ,s rTsp, to Company
600. iot.ois TO- io5,Ios. ...
HslisN,sn co" Ne" YORK "'asS'ooc
''s:!:' = York is''i I1. rn,ur.ne. comp.n,
-, y ssche Co 'i'2es'oo"' 1875 I
Bank Of Manhattan Company. New rorh
$3.50. ooo 1885 to 1855.
5000. H COO 1888 S to ,osos.
Alexander 4 Barnet, New York 1850.
York. ss.oooooo, 1854 to 1867. ,oo a.,
n: p. s,srlinr New York r'ooooo'
Bern bernhard s'hoile & Co, New York $4,000
:o. A r. Of, .% d , Ss%H."' Ne" r'''
Sswbors and Company. New York '',a6"
w S.wsurssr' Henderson a Loeb New Yor,
$1,000 900, loi.Jii I" 100 Gal
Fast, River sayinEs Institution. New Yor'
BROOKLYN Trust Company. sl.sco,ooo. ie+
goldman. sachs & Co. Now York. $1,000
g ], Turner & SON. New York 100000
United states Trust COMPANY New yor'
sessonEo"d s Haas, New York. '2ooo''o'
i ? 10 Morgan 'ss'ss Goa Now York ''"'''''
William Z: cable & Co. New York ',S6o
Robert Winthrop co, New Norl