The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-11-11
Treasury Shipment of S3,OOO,-
900 i'm Coin Today.
Tomorrow $1,5OO,OOO Is Com
ing From Same Source.
DEMAND FOR CHECKS
Will Again Be Taken Up by the
Clearing House.
liz 1t Seems Strong Enough
They Will Be Issued.

Chicago, Nov. 11.-Acting under teIe-
graphic instructions from the treasury
department in New York $3,OOOOOo IN
gold coin will be transferred today from
the subtreasury to the vaults Oh tne
First National bank. The transfer Will
be under police guard. The weight OF
the gold to be moved is about R'oVO
pounds.
The Illinois Trust and Savings bank
expects to add 81, 100000 in gold to It's
currency store tomorrow. This is also
a part of the shipment of gold recelVeo
last week in New York from London.
The question of clearing house checks
which are being demanded by all tne
railroads centering in Chicago ana py
the Chicago Association OF commerce
representing Chicago merchants, proDa-
bly, will be taken up again by the clear
ing house committee today. the COM
mittee has said that if the demana was
strong enough these checks VIII be Is
sued. 1t is expected they will be re-
ceived as currency by all business
houses and by transportation lines.
The engraving of these checks Is
completed, and copies of the four de-
nominations that may be issued Will pc
Sh own to the members OF the cledTLlS
house at once
The present tightness in the money
market has hit number of saloons in
the outlying districts in an unexpected
and tender spot.
For years it has been the custom OF
large concerns to pay their employees
in checks. These checks the nelghbor-
hood saloons would cash FOR them,
their breewrs furl ishing the money.
The saloonkeeper get his profit out OF
the fact that the workman he Obliged
would naturally spend some OF the
money with him before going home,
and the brewer gained by selling more
beer to the saloonkeeper.
But when one brewery sent to its
bank the order for a large amount of
currency to meet this monthly call. its
cashier was told the bank could not
spare it. Other banks were as obdu-
rate in meeting the demands of other
breweries, and the result has been the
saloonkeepers did not have the money
to cash the checks of their customers
on pay day and lost trade in conse-
Quence.
Cortelyou Extends the Time.
New York, Nov. lin. view of the
disturbed financial conditions it is diff
ficult for importers to get currency in
time to meet their obligations to the
governm ent. Secretary Cortelyou has
doubled the time permitted for the
payment of customs duties, making it
96 hours. The law requires payment
in gold coin, silver dollars. gold and
silver certificates or treasury notes.
The change in customs conditions
was made at the request of w Wick
ham Smith, attorney for George Borg
feldt & Co.. and other importers.
United States Got 1t All.
London, Nov. 1.-THE United States
secured practically the whole of the
100000 in gold available today in the
open market. In the absence of COM
petition the price was reduced Is to C
to 11Ed.
Bank Closes at Oakland.
Oakland Cal, Nov. 1.-THE Union
National bank, the Oldest bank in Oak
land, closed it's doors today. The Oak
land clearing house is investigating its
assets and will report. ]. D. Brown of
the California Safe Deposit and Trust
company, was vice president until few
days ago. 1t is claimed that the bank
closed because of its connection with
the California Safe Deposit and Trust
company. A statement of assets and
liabilities will be given out later. 1t is
impossible to say at this time whether
the bank will again open its doors. The
officers of the bank say they are only
taking advantage of the legal holiday
to straighten up their business.