The News and Observer.
VOLUME XXX
tk]e Driest ©D(B©(y]L/a¥D®Ki ®f mu kwtgs ©ajmlokia [moox
MORE TALK OF BONDS
the president says iie will
ISSUE THEM As l.OX; AS
NECESSARY.
THE PACIFIC RAILROAD BILL.
Southern Statesmen Have Come to the
Poiat Where They Demand that
Their Cotton Shall be Worth as Much
as (toads.-A Report on the Springer
Flitl Expected To-day—Passaite of
tha Patific Railroad ltill will Bring
$138,000,(MAO into the Treasury,
Special *• the News and Observer.
Washington, D. C., Jan. 31.
Mr. Cleveland is quoted as saying:
“If Oongre-s does not afford the coun
try the relief that is required I will issue
bonds, and will continue to issue them
when necessary as long as there is any
paper left in the Bureau of Printing and
Engraving upon which to print them. - ’
The President is most desirous of do
ing whatever can be effected to stop the
“endless chain” business in the matter
•f the gold reserve. The doubt is
whether anything can lie done without
the legislation which is not forthcoming.
It can only Ik* repeated that there seems
mo alternative but another bond issue,
and yet what good will it do if the gold
which comes of it is only to be once more
•xhausted in a few days or weeks
It seems certain that speculative mo
tives are at the bottom of most of the
demands f< r gold made upon the sub .
treasuries but if there is no way of stop
ping it the knowledge of the fact can do
no good.
Temper of the South.
The Washington correspondent of the
Morning Advertiser sends this to his
paper:
‘The temper of some of the Southern
statesmen may be learned from the fol
lowing story that was related to a cor
respondent this morning: When Mr.
Belmont, the New York banker, was
aver here last week he called on the
President, and had a talk wi'h him upon
the financial situation. He soon became
convinced that Mr Cleveland has de
termined not to yield to the silver men
and financial cranks, and as he was
leaving the White H< u*e he said, “Mr.
President, I am to the Capi
tol to talk to some of the Democratic
Seuators.”
“That is right," said Mr. Cleveland,
with a twinkle in his eye; “that is just
what yon ought to do. Go down there
and hear what they have to say.”
Mr. Belmout only interviewed one
Southern statesman, after which he left
the capitol in disgust. He saw a distin
guished Democratic Senator 'from the
Bomb and member of the finance corn
inittee, sad explained to him at length
what he ۥ nsnlered the gravity of the
financial situation. The Senator heard
him through, and then, turning to him,
said: “Mr, HI moot, you are a very rich
man. Ton own a great many Govern
ment bends; now let me tell you some
thing. We in the South own a good
deal of cotton, and cotton is not worth
fifty tents on the dollar to day. Now,
we don’t propose that your bonds shall
be worth any more than our cotton.”
1 lit Pacific Railroad Bill.
The Pacific bill which Judge Harris,
(Populist l)t mocrat) of Kansas, spoke on
this morning does not affect the people
of the South in but one manner, yet the
Southern delegations arediffering widely.
The passage of this bill will, it is
thought, bring iuto the treasury about
SIBB,OOO 800, which this company has
been ow ing to the U. S Government for
years to c< me. The North ? arolina del
egation have not wholly made up their
Miitids yet, but thus far it seems that
Messrs Branch, Alexander and Grady
will vote against the bill and Messrs
Henderson ami Woodard, while they are
not yet positive as to how they will vote,
will probably support the bill. Mr. Craw
ford and Mr. Settle were not iu the
House when the vote to give a hearing
to the Pacific company was taken yester
day.
Mr B >wer has not yet returned from
the funeral of his father, who died on
Sunday. Much sympathy has been » x
pressed for Mr. Rawer by his many
friends here.
* v *
In the press gallery yesterday a great
deal of talk was on the report of the
Springer lull. Several of the finance
committee had spoken freely to reporters
about the matter, but all that csuld be
decidtd U|wn as u sure thing, was that
the committee had waded in the matter,
but were not near ready to report. It is
not expected to day, but may come to
morrow or Friday. Se\eral of our dele
gation it Friday, while other
Southern men say it may not la? re
pot led.
* * *
The Lsngdon Assembly dance was
quite a t. naan? affair last evening, over
a hurdred Washingtonians went down.
Until a late hour tv ait In ru people hel i
tway in the histone village. Among the
partus who went down was one chape
roned Uy Mrs tieorge Mi - estinghouse in
which w;is Mi>s Leach, of North Caro
lina, snd another party i haperoned by
Mrs W. H. Bagley m which were Miss
Ethel B glov, or Kaleigh, Mis* Lucy
London, of Pittsboro, Mr Joe Hesbr,
formerly of Raleigh and Mr. A. O. Hig
gins
* * *
Sesate- Ra so*n has not yet expressed
am opinion for publication, s ys the
Richmond Dispatch. He st’dom “rushes
iuto print,” as he is disposed to r gat'd
an interview, but it is thought he will
have something to sav in the Senate
within a few days. He is credited with
having had a long conversation last week
with President Cleveland on the subject
of the currency.
♦ * *
Dr. W. W. McKenzie and bride, of
Salisbury, returned to North Carolina
yesterday after a short but pleasant stay
lure. Mrs. McKenzie has many friends
in the State, especially iu Kaleigh, where
she went to St. Mary * School as Miss
Alice Caldwell.
♦ * *
Mr. E C. Brooks, of Grifton. Lenoir
county, who was for a short while Wash
ington correspondent for some Southern
papers, has been spending a few days
with his old friends here. He loft last
night on the Norfolk boat for his homo
* * V
The Old Dominion Race course on
Alexander Island closes to-day. The
stables of George C. Leach, of High
Point, it is expected, will remain until the
track opens March Ist, for the spring
and summer racing.
* V V
Rev. B. S. McKenzie, of North Caro
lina, who lias been in New York as rec
tor of a church there, passed through
yesterday enroute for Hillsboro, where
he becomes rector of St. Matthews
church.
* * *
To-uiirht a very quiet but very pretty
wedding took place at 529 Florida ave
nue the home of the bride, Mis. Marga
ret Smith, of North Carolina, to Mr.
Fowler, a Patent. Attorney of this city.
* * *
Mrs. Col. John M. Morehead, of Char
lotte, will not receive on next Monday as
is her custom, but will receive on all
other Mondays duriug the season.
* * *
r
Congressman Bunn arrived this morn
ing from North Carolina, where he h;s
been for the past week on a business
trip
THE ADMINISTRATION IIII.E.
The Republicans Will Support it Hut
the Populists W ill Oppose It.
Washington, D. C, Jan. 31. The
Democratic members < f the House con
cede that if the Republics, as a whole,
give their support to the administration
banking bill as it has been amended in
committee, it will pass.
Mr. Cox, of Tennessee, who is one of
the members of the banking and cure
reney committee, says that the Demo
crats will generally oppose it. There will
be no minority report but, agreeable to
the understanding when the committee
adjourned yesterday, every member
of the committee will lie free to take any
attitude regarding the measure he may
choose. Mr Cox thinks, however, that
if any considerable number of Republi
cans vote in the negative, the bill will be
defeated.
Likely to f’a*s.
An imperfect poll of the House this
morning would indicate that the bill as
it will be reported from the committee
to-morrow is likely to pass.
Mr. Reed, of Maine, who is the Repub
licau leader, has not decided yet what
his course toward ’ho measure will be,
and has so informed such of the Repub
lieans as have spoken with him upon the
subject. It is a fair presumption, how
ever, that the Republicans generally will
support the measure and that it will re
ceive also a fair share of Democratic
votes as well The Populists will oppose
it unanimously.
Mr. Springer, who will have themeas
ure in charge, does not doubt that it will
pass the House. He was t"l<l that the
bill would receive the full support of
nearly all the Repubbcans. w ith the ex
ception of a few silver Republicans, if it
were amended in oue or two places. He
thinks the Democratic members of the
banking aud currency committee who
favored the administration bill will set
their faces fairly against, any additional
amendments, and he does not believe
any will be adopted. In hisopinion, the
bill will receive a very considerable 1); m
ocratic vote, a roe much larger Dan
has yet beeu predicted.
He thinks, too, that in its present foi m
it will Ik? generally endorsed by the Re
publicans.
WARD M’ALLISTEH DEAD.
The well-known Leader of Soviet ? in
New York Passes A\vav.
Nkw York, Jan. 31 Ward Mac 'P : s
ter, the well-known society leader, died
in this city to night at half past nine
ok 1 ek.
Mr. Mc Allister was born in Savautiih,
Ga., sixty years ago. His father was a
lawyer, and served several terms as may
or of Savannah. His grandfather was a
prominent business man in Savannah.
The dead man came to this city when
he w as twenty years of age. and remained
here until the death of a maiden aunt,
who left him some money. He then re
turned to Savannah, where he was ad
mitted to the bar.
Sketch of Hitt Life.
Marti McAllister was a native of Sa
vaunah, Ga., where he was born about
sixty years ego. His grandfather, Mat
thew McAllister, was chief jt slice of the
State, and his father, Matthew
Hall McAllister was a justice of the cir
cuit court of the United States in Cali
fornia The family was distinguished
for it* legal ability. A brother of Ward
McAllistersto»?d at the head ot the Sau
Francisco bar for many years. On his
mother's side, Ward McAllister was con
nected with some of the most distiu
guish*d families of the east. His mater
unl grandmother M«s. B. C. Cutler, was
a daughter of Hester Mariou, sister of
Gen. Francis Marion, the “Swamp
Fox” of the Revolution.
RALEIGH, N. C.. FRIDAY. FEBRUARY I. 1895.
FINANCIAL TALK
PRESENT SITI ATION C AUSES IN
INTERESTING DISCISSION IN
THE SENATE.
GORMAN'S STRONG SPEECH.
! He Declared* that the Country has
Reached a Crisii m it* Finances, hut
that ihe Credit and Honor ol the
Government Must he Maintained--
An Appeal to the Republlcau*--
Vance Memorial Day in the House.
j Washington, D. 0., Jan. 31.—Every
' thing of interest that took place in the
j Senate to day circled around the fin&tt
| cial situation.
During the morning hour there was a
i discussion upon a nsolution offered
j some days ago by Mr. Allen, (Pop.) of
I Nebraska, as to the reasons why the
j United States notes w» re not paid iu sil
• ver coin, as the Secretary ox Treasury
has the di-eretionary power, under the
law. to pay thun The resolution went
! over until to morrow without action.
Then the District of Columbia appro
priation bill was brought up by Mr.
} Gorrnau w ith the purpose, as he aftcr
; wards avowed, of shuttiug out the finan
j cial topic; but the purpose failed, be
j cause the bill led to a d seuss'on till late in
| the aft-ruoou in which very important
statements were made by Mr Allison
and Mr. Gorman, the latter declaring
his belief, he might say his knowledge,
i that if limit cial relief v ere provide din
nooth-.r way, the Sena'e would, before
midnight on the third of March, place
on an appreciation bill a provision that
would save the country from impending
1 disaster, so that the honor and credit of
the government should be maiutairnd,
aud that the eouutry would stand before
the world the foremost nation in the
matter of observing obligations.
.vir. Gt rmHiiN Speech,
j Mr Gorman said that iu the last year
of Mi Harrison's administration the ap
propriations exceeded by $100,000,000
the funds in the Trea.-ury aud that bank
ruptcy had only been warded off by
postponing from time to tune appropria
! lions for pensions, for the navy, for the
! public buildings and for rivers aud har
i hots President Hat i isou and bis Sec re
tary of the Treasury had not hesitated
to say frankly to Senators on both sides
of the chamber, “We are reaching a
point of distress, we have reached i
point where we cannot meet our ob
' without the aid of Oou
i grtsa.” And they had come to the
| Seuate to get that aid But it was
; iu the midst of a Presidential elec
• lion aud nobody on either side thought
it wise, proper or politic to bring the
j questiou up < xcept to state the facts He
j (Mr. Gorman) bad then given the warn
ing to the Be ate and to the country,
that no matter whether the Democratic
. party came into power or not, there was
| but two thing- to be done, either to in
crease taxatii n or to borrow money by
the i.-sue of bonds. The presidential
diet ion tad passed over and the Demo
cratic party had teen swept iuto power.
Then it was that, with a greater frank
ness than ever, the Republican President
and Secretary ot the Treasury a-k*-d the
Democratic Senators to authorize the is-
I sue of $50,000,000 in bonds to keep the
; gold reserve intact. Aud there was put
, on au appropriation bill a provision for
the issue ot $50,000,000 iu 3 p r cent
bonds.
Mr. Aldrich: “Why did uot that pro
vision stay there ?”
Mr. German: “It was not agreed to
elsewhere.”
Mr. Aldrich: “Why was it uut, agreed
; to else where X"
An Inherited Fan it*.
\ Mr Gorman: “Another body was im
1 bued with the idea that the government
j could be ruined by reducing taxation,
j The fact is that the authority to issue
! bonds was refused. A majority of Con
gress refused to reeogn z? me fact that
the treasury was in a bad condition.
And legisl itiou providing for revenue
was made—which w ill be amply suffi
cient after 1896. But n > provision is \
bring made by Congress for this condi
tion of ffaiis, which existed when they
came into power. W« inherited it. It
was id awful load. That we ha?e not met
jit frankly by maki ig a temp)
ary provision lor ims state of things
was a misfortune. It has been met in
part by the sale of one hui died millions
ot bonds, producing $118,000,000. Every
' dollar of th d h;is been us* d to pay the
current • xpenddurc -of the government,
save what small amount is now in the
Treasury,aud the Treasury stands to-day
with appropriations made by Congress
(which area demand upon it> to the
amount of over a hundred millions of
| dollars more than there is mom y in the
Treasury to meet. It is a crisis. It is
. oue that wll appeal to ev«ry patriot. It
. must be met. This government is able
to pay evtry dollar of its d< b s iu the
sound* rt money in the world Ail that
j is m oessary is to face the question as
patriots aud as American Senators,
j aud before we leave here, make provts
ton for the Treasury.
C redit Will be Maintained.
“I believe that this Senate, which has
met every crisis in the history of the
: government; this s mate which does not
take account of the storms brewing out
side; this Senate which has never yet
| bowul to a demagogue; this Senate which
w.ll maintain the credit of the govern
ment, no matter what it costs, will, be
■ fore this Congress adjourns—if it does
l not come from elsewhere, as it ought to
! do—place upon au appropriation bdl
provision enough to pay au honest obli
gatkn of tne government that
has been contracted and to keep
the administration (no matter
which party it may be) in a position so
that the honor of the government a* d
the credit of the government shall be
maintained; and we will continue to
stand before the world the foremost na
tion in the matter of observing obliga
tions.”
Mr. Gorman delivered these rapid
sentiments with great force and earnest
ness, and his words were listened to with
the greatest attention and interest.
Appeal to Republican*.
In concluding he said: “I care noth
ing about these little details. I call it
details, although I ought not to use that
word. But in the present emergency it
is a matter of detail whether the roomy
be silver or g- Id or greenbacks, or
national bank notes, s> long as the
money is as good as any money in the
world. It must be supplied to this gov
ernment; ami I appeal to the members
on the other side of the chamber to
come forward in this crisis, for which
they are as much responsible as
we are. The responsibility is joint. It
cannot be escaped by either side. It
mnst be met by you (meaning the Re
publicans) with us, and before that
clock (pointing to the clock over the
main door) points to twelve on the night
of the third of March next I believe —I
think 1 know-I shall be the most de
ceived man in the world if it la? not s > —
this great body will rise up in away
sufficient to meet the case and to save
this country from impending disaster,
because of w ntof ra aney in the Treasury
Mr. Hill** Resolution Adopted.
At this point, Mr. Iliil suggesting the
propriety of having the information from
the Treasury, called for the two resolu
ions offered by himself and Mr. Allison.
Mr. Gorrnau professed his willingness
to have the resolutions adopted, and
they were ace rdingly put to the S mat**.
The resolution offered by Mr. Hdl
directs the Secretary of the treasury to
inform the Senate whether it is necessary
or desirable that legislation should be
adopted authorizing the i.-sue of bends,
treasury notes or other securities to
realize money for the purpose of paying
the curreut deficiencies in the revenue,
and if so, to State the nature and sub
stantial details of such legislation.
The resolution was agreed to.
Mr. Allison** Resolution.
Mr. Allison’s resolution directs the
Secretary of the Treasury to inform the
Senate what* portion of the reserve of
gold of o million dollars, in the
Treasury on'fanu ry I, 1893, has been
used for current expenses; how much of
the fund realized from the sale of bonds
has been used, and the amount requisite
to replace the money so used.
To this resolution Mr. Gorman offered
an amendment directing the Secretary
of the Treasury to report to the Seuate
the ae‘u d available eaati balance in the
Treasury applicable to cut rent expendi
tures of the government » n January 1,
1894, to the 31st of December, 1894; all
payments made to' 1 ' the Treasury be
tween the same dates; the balance of
cash in the Treasury ou the 31st of De
cember, 1891, available for the current
expenses of the government, not includ
ing the gold reserve fund; the actual
amount of gold in the Treasury on the
Ist of January and the Ist of July, 1894.
aud the actual balance of gold on the
31st of December, 1893; and finally, to
make a detailed statement showing the
appropriations that have not been used
since the Ist of July, 1893, and the
amount due to the sinking fund ou the
3 1st day of December, 1 94.
This amendment was agreed to, and
Mr. Allison’s resolution as amended,
agreed to.
Then the Senate on Mr. Gorm u’s
motion, at 5:50, adjourned till tomor
row.
THE 1> V V IN THE HOUSE.
Hr. Crisp Return* From .Asheville and
Resumes the Gave*.
Washington, D. C, Jan. 30. —T0
day’s s> ssion ot the House was signal zed
by the expend ce of Speaker Crisp in the
presiding officer’s chair, the ser
vice of Representative Everett, (Dem ),
of Massachusetts, in the chaplain’s sear.
Mr. Crisp was greeted by applause from
the sci-reof members present when he
called the House to order at 11 o’clock.
Before proceeding with the discussion
of th>* Pacific railroad refunding bill a
Hous ■ ! ill was passed establishing a code
of regulations governing the navigation
of the great l*k» s and connecting waters.
Va«ce Memorial Day.
Sal unity, February 23. was set apart
for the delivery of eulogies upon the late
Senator Vance, of North Carolina.
S ver.d private bills were passed, aud
at 12 o'clock the House went iuto com
mittee of the whole, Mr. Dockery (Dem ),
Missouri, in the chair, to further discuss
the Retire Pae tic Railroad Debt refund
ing bill.
Th * passage of tho bill wusrpposid by
Mr. Harris (Dem ), K insas; Vr. Boatner
(Dem ) Louisiana; Mr. Snodgrass (Dem ),
Tennessee, aud Mr Cooper (Rep ) Mis
cousin, and advocated by Mr. Powers
(Rep ) Vermont, and Mr Lockwood
(Dem ) New York
The committee rose, aud at 5:03 o'clock
adjourned till tomorrow morning at 11
o'ch ek the first hour of the session to la?
devoted to general debate on the pend
iag bill.
N Negro Hanged for Murder.
Dawson, Ga.. Jan. 31 Howard Se
vens, color d, was hanged here to-day
for the murder of J G Mills, white, last
year. A1 of the evidence was circum
stantial, and Stevens protested his inno
eenoe to the last
WAR FEVER RISING
BOTH MEXICO \VD Gl XTKM UA
ARE NOW PREPARING FOR
THE CONTEST.
TROOPS ON THE FRONTIERS.
The Failed Stute* w ill Keep Hand* off
and the Dispute will he Settled by the
Countries Interested--Both Side* are
Massing Troop* and Preparing Their
Naxies For the Fight--The People
Are .'ntlinsiastic and Anxious For
the War to Begin.
St. Louis, Mo.. Jan. 31 A special
from the City of Mexico to the Globe-
Democrat says:
“Under the heading of ‘lmportant
rectification.' the Mexican Official Gov
eminent Daily, in its issue to day, says:
‘Some of the newspapers of this city,* on
the authority of information from the
United States, have said that the Wash
ington government desires to intervene
in our question with Guatemala. Al
though intending to publish at the
proper time the correspondence on this
subject, we arc authorized to state that
according to a telegram dated the 21si
iustaut aud a telegram from the same
gentleman dated the 25th instant, the
Secretary of State of the United States
declares that ho has expressed no opin
ion regarding the advisability of propos
ing to th** Government of Mexico that it
withdraw some of its demands and that
he has not advised Guatemala that the
government of the l int <1 Slat**
does not care to intervene in that
question and impose conditions, in
asniuch as Mexico has a right to
act as she thinks best. We make haste
to publish this rectification iu order to
save our contemporaries from making
comments on incorrect news.
Will Keep Hand* Oil.
“The Globe-Democrat correspondent
was assured yesterday at the palace that
this should put an end, for the present
at least, to the rumors flying thick ai d
fast, of the intervention of the U cited
states iu the Guatemalan question. The
Spanish pup rs of this capital bitterly
as*ad the intended meddling on the part
of the United states, and brand the
effort as being entirely unjti*t aud un
< ailed for.
“The authoritative stat* incut from
the government in its otlici 1 daily will
cause much re joicing that *>.e northern
republic will keep its hands off aud that
Mexico aud Guatemala will be loft alone
to fight the questiou < ut between them
s< Ives so far ns the United States is con
cerned
War Fever Rising.
“Yesterday’s reports from Guatemala
of the stand taken by other central
American re publics against Mexico has
made the fever of war perceptibly
rise in this capital and through
out the republic. If the demands
of the government trom Guatemala do
not receive an immediate answer
without the intervention of other na
tions the Mexican government would be
justified iu taking steps for the prosecu
tiou of a war against that country and
against all the Central American Re
publics if necessary to fore** a settlement
ot the question.
t‘B >th sides are massing troops ou the
frontier and non combatants are leaving
that section by all manner of convey
a tees. Toe United States of Mexico
stems unanimous with President Diaz
and his policy.J and will spare no means
or expense in the way of arming and
equipping soldiers.
Preparing a Naiy.
MazaTL.ln, Mexico. Jan. 31. A large
m* rchaut ve.*st l lying in this hath r has
been purchased by the government aud
is being fitted up for service in the
threatened war with Guatemala It is
rep rted that a large f ree of troops
from the States of Bina’< ? and Durango
will be transpor t'd to the Gnat roaian
pores by this vessel as soon as war is de
clared
Several re giments of volunteers have
already b en taised in this Slate by pa
triotic c tizens, and the people are anx
ions for the fighting to ’■« gin. It i* j;l*o
announced here that Guatemala is ne
gotiating for tha purchase of sereral
merchant vess-e's engaged in the Pacific
coast trade with a view of fitting out a
Lavy to transport her troops to Mexico
iu case.au invasion of this country i* 1
decided upon.
United State* Will Support Mexico.
City ok Mexico, Jan. 31. —It is ie j
p< r ed that the Mexican government ha*
received an official intimation from tin*
United States government that Minister
Gray, who is **n route to Mexio from
the United States, had special instrue
tio's relative t> the possibility «f war;
with Guatemala. In semi-official ci l* s !
lure, it is said that the imtructions arc |
that in the event of war with United
Central Ameiica, M* xico will have the ;
naval support of the United states in \
the effort to annex whatt ver Guatemalan
or other desirable territory she wishes, !
ami the United Stat* s to extend her pro
teetoraie over Nicaragua for i;t«r
o eanic canal purposes.
. Reports confirm the statement that
Guatemala is straining every mrve to;
iucrea.-e her army and militia. Tne :
principal government organ here* admits
that practically the vln le Mex an rvg
ular army could be placed on the bor
der in a few days, and that naval trails
ports are not lacking. I’ vould be in-]
discreet, the paper adds, to say ru< re,
seeing that there is still iiope of j re
sertmg peace.
NUMBER 8.
TO BUY UP THE NEW HONDA.
Kyadicatc ofForeiga Banker* ('•ruivH
is New \ ork for Thi* t*«rp«*«.
Nkw Yore, Jan. 31. Assistant Score
tary Curtis was at the sub Treasury this
morning aud had a lengthy conference
with the representatives of large foreign
houses. Georgia F. Crane, of Baring
Magown and Company, was the first to
arrive. Among the other foreign hank
r ers preeont were I. Wormser, of vv#rm
, j ser ami Company; E. Thalman, of Iji
1 deubdrg, Toalmau and Company; a rep
resentative of August Belmont and Com
• I pany, and Mr. Speyer, of Speyer and
, I Company.
It was considered significant that at!
r the visitors were connected with foreign
I houses. In the afternoon J. Fierpont
I j llargan, Isaac N Seligtnan, of I. and W
. j Seligtnan, and Eugena Meyer, of
! Freres, were also in consultation with
: J Messrs. Curtis aad Jordan.
It ts understood that the result of th#
; conference is as follows:
, | A call for subscriptions to SIOO,OOO,
000 four per cent bonds will ho issued.
. The symiisate of foreign houses will
, j take whatever bonds the public do not
subscribe for on a basis of 3 t 3 percent.
, The foreign bankers were w illing to
, take the bonds at once but the govern
rneut wished to give the public an or*
port unity of securing whatever bonus
, are denned here. Gold will be bronght
. from abroad to pay for the boud* taken
, | by the foreign syndicate.
A Fall Exported To-Day.
Mr. Belmont, it is understood, offered
' j to take $10,000,000 fours for the Roths
| childs on a 3 12 basis. The bankers
' also offered to deposit $30,000,000 iu the
! Treasury at once if it could lie legally
j arrangtal that Treasury receipts should
j Ik? immediately convertible into bonds
#hen deliverable.
11 T These propositions will be laid before
, a cabiutt meeting to-morrow, ami if
deemed satisfactory a call for $100,000,-
000 fours is expected as soon as the cab
inet adjourns. The call, it is believed,
i will certainly not come later than Sat
! urday.
The opinion in Wall Street is that the
| administration will err to issue a general
j call for subscriptions if bonds can be
sold abroad by a definite agreement.
I The gold deposited for bonds taken in
i this country will be speedily withdrawn
j again as in the case of the last loan,
j 0.-ly the sale of fifty to seventy-five
j millions abroad would effectually put a
! stop to the gold drain by checking the
t go d exports and restoring confidence
; among the foreign investors who are
• (Kmriiig their securictics into thi* conn
try.
The four per cent bond which
it h prop iged to issue would mature
in 1909, and on a 312 per cent
basis would net 105 03 to the govern
ment, on a 3 1-4 basis 107.65 The 312
per cent basis would leavea wide margin
for possible profit, but the foreign houses
would have to face the possibility of a
reluctant investing public and wish to
pro) ide against the possible contingency
that a la r ge portion of the bonds might
have to la? carried for a long period be
fore becoming absorbed by the foreign
public.
ANOTHER RAIL ROAD BOBBERY.
Five Robber* hold up a Train in Ari
zona aud Secure SIO,OOO.
San Francisco, Gal , Jan. 31. Offi
j cials of the Southern Pacific Railroad
j Company were notified this morning of
the robbery of the west-bound overland
traiu at 8.30 o’clock last night near Wil
cox, Arizona.
The safe was blown open with dyna
mite by masked men and ten thousand
dollars in Mexican silver were taken.
Five men were engaged in the robbery,
four having beeu present at the place
where the express car was looted, while
'the fifth is known to have been in the
! company of those four when they were
j seen in amt about Wilcox previous to the
i robbery.
The actual work of the robbery was
done by two meu who hoarded the cars
I at Wilcox and vi hen two miles west of
tne town suddenly appeared in the cab
of Ihe engifie with drawn pistols and
; compelled the engiueer to stop the
: train. While one of the robbers
| kept, him covered, the other made
the fireman and hrakeman cut the ex
press and mail cars loose from the rest
jof the train. The engineer was t hen
I made to pull the two detached cars for
: about two m les to a culvert, where the
I two meu of (he gang were met by the
entire patty. It was here the safe was
j blown open, the other meu having
* bronght explosives.
Seven explosions were made by the
robbers before they felt satisfied with
j their work As a result the top and
I s dni of the express car were shattered
and i In express company's safe was blown
to piece.;. A great deal of money was
scattered about and the express agent
from Wilcox who visited the scene, picked
out seven hundred Mexican dollars which
! the robbers had l**rn unable to collect,
j B sides the SIO,OOO in Mexicau money
i there was considerable coin on the train
! which had been sent to pay railroad em
ployes al »ug the line. After the rob
j bery, the men rode iu a southerly direc
: tiou.
Sheriff Fly and four men left Wil
, cox fur the scene of the robbery,
and this morning shortly afterward
; Deputy Sheriff Howard set out with
two men. Scott White took a posse
i out from Tombstone with the
| hope of heading off the robbers,
i Special Agent Breckenridge; of the
1 Southern Pacific has also gone to the
scene with two Indian trailers, his pur
pose b<*ng to take the back trail and find
j out where the robbers came from A
toUjuh citizen named Grant Wheeler is
1 suppled to be the inspiring genius of
the affair.