Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1907-11-30
Growing Confidence in
New York Manifested
by the Figures.
CASH BASIS IN 10 DAYS
Panic Expected to Make Chi
cago Greater Financial Gen.
ter Than Ever Before.

New York, Nov. 30.-The weekly
bank statement follows: Loans in
creased, $1O,OSO,OOO; deposits increas-
ed, $346,400; circulation increased, 81
$4,000; reserves increased,> 1890
900; deficit decreased. S1,114,O00; ex-
u. S. deposits decreased, $1,92G,000.
Legalizes Clearing House Currency.
New York, Nov. 30.-It was an
nounced that shortly after congress
opens next week Senator Thomas C.
Platt will introduce in the senate a
bill providing for the national incor-
poration of clearing houses. The bill
probide that one clearing house in
each state that shall have power to
issue currency to its members and
shall maintain a reserve equal to that
required of national banks.
The passage of the BILL it is said,
will give congressional sanction to me
plan of issuing clearing house certifi-
Gates
They May Resume Soon.
Chicago, Nov. 3O.-The report that
Chicago banks will resume currency
payments Monday was discussed by
members of the Chicago clearing house
committee last night. John J. Mitchell.
president of the Illinois Trust and
Savings bank and member of the COM
mittee, said
THE announcement is premature
We have set no formal date for@re-
sumption of specie payments because
we are waiting for replies to 5000
circular letters which we sent to bank
ers Of the west and middle west 10
days ago. Thus far some 1000 return
letters have reached us and the tone
of these is so uniformly favorable that
1t is safe to say currency payments
will be resumed soon. The exact ate,
however, has not been determined"
From other sources it was learned
the clearing house started arrange
lnents for return to normal conditions
in. about 10 days.
Chicago New Center.
Omaha, Neb, Nov. 30.-I am presi-
dent of three banks in Nebraska and
| have been keeping money on deposit
in New York, but from now on will
transfer my exchanges to Chicago. and
cease relations with New York and so
will hundreds of other western bank
ers who have seen the financial re-
ports and newspapers of New York,
the maps indicating by dark spots that
Omaha and other western cities are in
sore financial straits" said NJ o. Ay-
ers of Dakota City, Neb., who is in
Omaha.
This sentiment is expressed by
many other bankers of Nebraska and
the west. President H. W. Hates of
the Omaha Clearing House association
who in condemning New York de-
clares that Chicago is the legal de-
pository of the west.
Allotment Finally Closed.
Washington. Nov 30-The final
closing of alIotments of the 3 per
cent one year certificates was def
nitely announced by Secretary CorteI-
you yesterday. He declared that no
allotments had been made or would be
made after his announcement Wednes-
day night; that no other subscription
would be considered. The point was
not quite clear until his statement
yesterday that some of the allotments
might not be made from subscriptions
already in hand Wednesday.
Total About S2J,O0O,OOO.
AS the matter stands practically all
the allotments are to national banks.
which have agreed to take out circu.
lation, and in the majority of cases
have indicated willingness to sur.
render the certificates before matur.
ity upon payments of accrued interest
on the date of redemption. Informa.
ton was still withheld at the treasury
as to the amount of the allotments
made, but such information as is OBJ.
tainable, indicates that the total will
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