The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-04-24

substitution for state. municipal. or
Philippine bonds and certificates of in
debtedness now held to secure such de-
posts; and in substitution for United
States bonds now held as security for
deposits, on condition that the govern
ment bonds thus released be used as Sc
curity for additional circulation whenever
in the judgment of the secretary of the
treasury it is desirable to stimulate an in
crease in national bank circulation.
Mr.. Jobes came to Washington a few
days in advance of the day set for the
bids. He brought his two daughters
with him, and announced that it was a
sightseeing expedition for them fully as
much as the little business matter in
hand, which brought him here. They
went to the home of Senator Long, for
many years warm personal friend of
Mr.. Jobes. The latter, after a day or so,
went to New York city to see the fin
anciers. Mr.. Jobes was modest. He said
all he wanted Of this million issue
was 100000, or enough to take up sSs,00o
OF last years certificates. now about to
expire. and therefore to protect the cir
culation of his bank to this extent, for
the certificates, like bonds. were accepted
to cover circulation of national banks.
Mr. Jobes told the New York men he
would like to have them let him in on
just 100000 of the certificates Give me
that much.' he said. and I'll pay you
a profit over your cost price" But they
said no. and some of the frivolous ones
xI,af-e4 m At no
Gritty OF this westerner who wished to be
let into the secret places of the most
high. So. Mr. JObes said: We'll, I'll go
back to Washington and see what l can
do there. | only wanted 10o.o00. but now
l may have TO take the entire lot"
Amidst the chatting Of the New Workers
the western banker returned 10 Wash
ington and studied the matter over. One
hour before the bids were opened at the
war department. he went TO Senator
Longs Office. He sat down and made
rough draft OF a letter TO the war de
partment. he had il typewritten. and
attached TO il a certified check for $30."0
OF one Per cent OF the issue. He arrived
at the war department a few minutes be-
fore bids were opened, and submitted his
To his own surprise. and to the astoaish-
ment and amazement % the representa-
tives % the New York syndicate. he was
successful having bid l0l.ISl for the cert!-
hcates.
The news went abroad. and in fifteen
minutes the very fellows who had turned
Jobes down in New York. and hac
laughed ct him. were calling him BY long
distance telephone. and begging him 90
come to New York and they would SEE
II they couldn't persuade him TO let them
in on the issue Il wouldn't dispose o.
any OF the certificates until / came over
here. Il were in your place" said one
80 Dir. Jobes went.
These certificates rul ore year from
May ! They draw Ter cent Per amman
interest. NJ. JOKES paid z little Over
! Ter cent shove par. The issue rs &
stands now woald turn him something
like S5aoo1. But ne expects - dispose q
2 large portion OF the certificates 81 tx
ures that nay enlsrSe his margin quite /
materially.
Money IS not always in active use. -
IL great demand in campaign years 4
Oftant.n-ss il rsPOses in vauits. snd -
unused places 50 even OF / per c-nt
IS good Investment. particularly when al /.
solutely safe 81 Ar- Jobes can vel a. i
ford - keen a gco6iy portion % lis uxr 4
zud has banks Money IN thsse ce-T4n- /
GATES. 70 say nothing OF The margin r. I
makes or ;hoSe Re dIs7os~s CT
". Joees aid th-es notable ih.1Ss- H /
gave his bank most excellent adver-
,sser,en,; hs oa;xis;ed and b<si ., tkel.