The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1907-11-30
NEARLY ALL GOING
TO NATIONAL BANKS
They Obtain Practically All the
AI|otments of the New
Three Per Cents.
DEFINITE ANNOUNCEMENT.
SECRETARY CORTELYOU MAKES
CLEAR THE STATUS OF THE
GOVERNMENTS RECENT GER
rIFiCATE ISSUE.

Washington, Nov. 30.-The hnal
closing OF allotments OF the per cent
one-year certificates has been definite
ly announced by. Secretary Cortetyon.
He declared that 40 allotments had
been made or would be made after
his announcement of Wednesday night
that no further subscriptions would be
considered. The point was net quite
clear until his final statement that
some few aliotments might not be
made from subscriptions already III
hand On Wednesday. AS the matter
stands, practically all the aiiotments
are TO national banks which have
agreed to take out circulation and in
the majority of cases have indicated
n willingness to surrender the Certiti
Gates before maturity upon payment
Of accrued interest On the date Of re-
Sumption. Information WAS still with
held at the treasury as to the amount
or the aiiotmsnts made. but such in
formation as is obtainable indicates
that the total will not materially ex-
coed $25,000,00o. There appears TO be
no doubt that probably three-ilfths of
the amount allotted Is subject to re-
demption with accrued interest with
I'm three months. On the basis of an
to the redemption OF $!5 ,G08,Ot0 with
interest to the amount Of ! " p@r cent.
which would require $225, 600 for the
interest payments. If S10.00o,0o0 OF
the certificates ran the full period Of
one year the interest payments at )
per cent would consume s30o,00o.
These two gums therefore, making
total of S525 900, would represent the
entire cost OF the issue Of certificates
to the treasury, outside the trifing in
cidental expenses Of issue This
would be at the rate of about two
thirds of a cent per capita for the pop
ulation of the United States.
The offers OF the Panama per cent
bonds are still reaching the treasury
in large numbers. They will remain
unopened until this afternoon. when
the receipt Of subscription closes.
The treasury working balance ac-
cording to the terms of deposit which
have been officially announced will Dc
luCISdSU0 74A,GcV,pON "itSit GAIA
the new securities are delivered. This
represents 10 per cent Of the amount
Of the Panama bonds and one-quarter
Of the amount Of the one-year certifl-
Gates. The balance Friday was re-
duced to less than IS 800 900, but this
ignores the large fund Of cash held
against outstanding checks and other
similar liabilities.
Internal revenue receipts have fall
len off this month as compared with
the same month a year ago, by about
44.O6b 900, and customs receipts by
about 81, 100000. Part of this decrease
is due to the difficulty c" obtaining
currency for making pey,"r-ts which
would otherwise be made. Secretary
Cortelyou continues to listen attentive
ly to representations in regard to cur
rency measures, but does not commit
himself beyond the general necessity
for intelligent legislation. One Of
these measures to be introduced will
probably embody the views of George
r. Roberts, president of the CONNER
cial National bank of Chicago, who
with Comptroller Ridgeley, is among
those who have recently become con
WINGED that central bank Of issue Is
the best cure for monetary difficulties