Democratic Sentinel, Volume 18, Number 48, Rensselaer, Jasper County, 14 December 1894 — BONDS ARE AWARDED. [ARTICLE+ILLUSTRATION]

BONDS ARE AWARDED.

Secretary Carlisle Al lota Entire Isaue to the United States Trust Co.

ECKETARY CARlisle has acted in the matter of the allotment of the $50,000,000 5 per cent, bonds, bids for which were opened at the Treasury Department He i accepted the pro- | posal submitted by I the syndicate represented by John A. Stewart, of the United States Trust Com-

pany of New York, and others to take the entire issue at 117.077. It is the expectation of the treasury officials that the deposit of gold for the payment of the bonds will be made promptly, and, as the understanding is that none of the gold is to be taken from the treasury, an early restoration of the gold reserve to above the $100,000,000 mark ’will be the result. The bonds, including premium, will realize the government about $58,500,000. The gold balance, which is now in round numbers, $57,500,000, will, if the expectations of the officials regarding the deposits of the gold bonds are borne out, be increased to about $116,000,000. Previously, however, there had been $4,550,000 in gold drawn from the subtreasury at New I York, presumably to be used in the payI ment of the bonds. Assistant Secretary Curtis heard inofficially over the longdistance telephone from New York that $8,000,000 in gold had been deposited in the subtreasury there for bond payments. The bonds are deliverable as soon as the gold is deposited, and ns the bureau of engraving and printing has been busy at work preparing for the issue they will, it is expected, soon be ready for distribution. The denominations of bonds which the syndicate will take are as follows — Coupons: SSO, $25,000; SIOO, $25,000; SI,OOO, $34,950,000, Registered: $lO,000, $15,000,000. The condition on which the bonds are accepted is shown by the original proposal of the syndicate, which is in the following terms, minus the names of the companies composing the trust and the denominations wanted: “We hereby propose, under the terms of your circular of Nov. 13. 1894, to purchase United States 5 per cent, ten-year bonds described in said circular of the face value of $50,000,000, and we agree to pay therefor at the rate of 117.077 and accrued interest per SIOO. This bid is for the whole $50,000,000, but not for any lesser amount. We further agree, upon due notice of the acceptance of this subscription, to deposit the amount thereof in gold coin or gold certificates with United States Assistant Treasurers at either Boston, New York, Philadelphia, Baltimore, Washington, Cincinnati, Chicago, St. Louis, New Orleans, San Francisco, in accordance with the terms of said circular. “We desire (registered or coupon) bonds In denominations, as stated below, and we wish them to be delivered to us as follows: $40,000,000 at New York, $3,000,000 at Boston, $3,000,000 at Philadelphia, $2,0u0,000 at Chicago, and $2,000,000 at San Francisco, or other United States treasuries, as may be approved by the Treasury Department.” The total sum that the Government will receive for the issue will aggregate about $58,500,000, and as the understanding is that the syndicate will not take gold out of the treasury to pay for the bonds, a healthy increase in the gold reserve will be the result. From the statements contained in the bid made by the syndicate, treasury officials believe that between $30,000,000 and $40,000,000 of the gold will be paid in at the sub-treasury at New York, and the remainder at the sub-treasuries in Boston, Philadelphia, Chicago, and San Francisco.