"John Sherman, Secretary."
"New York, April 4, 18979.
"Hon. John Sherman.
"We subscribe for three millions more, making five in all.
"F. Taylor, Cashier Continental National Bank."
"Treasury Department, April 4, 1879.
"F. Taylor, Cashier Continental National Bank, New York.
"Your subscription for three millions arrived too late; all the 5- 20's have been covered by previous subscriptions.
"John Sherman, Secretary."
A similar telegram was sent to the Continental National Bank of
New York, which subscribed $25,000,000 additional, the Hanover
National Bank of New York, $25,000,000, and the New York National
Banking Association, $2,000,000.
I then telegraphed to Mr. Conant as follows:
"Subscriptions have been made covering all 5-20 bonds (consols of 1867 and consols of 1868) outstanding, reserving for contracting parties the one million not subscribed for.