Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1907-11-02
New Form Of Temporary
Currency Resorted to
at St. Louis.
DENOMINATION SMALL
Plan Adopted to Relieve the
Situation in the Mound
City.

ST. Louis. Mo, Nov. Little blue,
yellow and green slips of paper in de-
nominations of 81, s. and $40 were put
into circulation as money today by the
National Bank of Commerce, Third Ma
tional bank, and Mechanics American
National bank.
Unlike Cashiers Checks.
These differed from cashiers checks
which have been in circulation for
week. in that they We're made payable
TO bearer" and that no endorsement or
Identification is required 10 cash them.
The St Louis postoffice officials an
nounced checks will no longer be ac-
cepted by the postal department here
in payment of any sort of obligations.
Treasury Officials Reassured.
Washington. Nov 2-Treasury Off
cials are agreed that the financial sit
uation is distinctly improved day by
day. and advices from financial centers
today were of reassuring character.
News of the opening this morning for
business of banks in Oklahoma and
New Mexico was received with general
satisfaction. There is said to be abun-
| dant evidence the fear of more serious
conditions is subsiding.
Arrange to Increase Circulation.
| National banks in all parts of the
country are arranging to increase their
j circulation and treasury officials and
clerks are working overtime in an eff
fort 10 keep up with their vastly in
creased correspondence.
| Weekly Bank Statement.
New York. Nov. 2.-The weekly bank
istatement follows: The banks hold
S,SS9,o00 less than the requirement
Of % per cent Loans increased $780,
142.GG0: deposits increased s2S,015.-
1000; circulation increased 1884. 900:
Illegal tender decreased SIG. 1000, 900: spe-
Gle decreased $2O.512.OO0: reserve de-
creased s30.GOl 600: deficit increased
$37. coo 900
Gold for Pittsburg.
Pittsburg Nov. 1.-THE First Ma
itiOnal bank has made arrangements for
the importation of s5O0.000 in gold bul-
lion from London. which will material
ly aid the situation. The stock ex-
change remained closed and resump-
tion is not now expected until after
election day
/ Enough to Pay Oil Fine.
| New York. Nov 2.-Lazard Freres
today engaged an additional 100000
in gold in Europe for import. This
brings the total thus far engaged to
S29, 10000.
Government Aid for Frisco.
San Francisco, Cal, Nov. p The
United States government came to the
assistance OF San Francisco banks yes
terday. announcing through kilograms
il had taken steps to expedite the ship
ment of coin to the Pacific coast
This action is the result of an appeal
by local financiers to Secretary Cor
telyou. 1t is said $4,000 900 are TO be
transferred by the government for the
use of San Francisco Savings banks.
Bank of England Loses More.
London. Nov. 2.-The Bank of Eng
lands stock of gold was further de-
pleted today by 331 900 pounds with
drawn for shipment TO the United
: States.
SIO.O00.000 on a Single ship.
New York, Nov. 2.-The treasure
conveys of the Incas and the plate
ships which once sailed the Spanish
main We're but trifles in value by COM
parison with the great Cunarder Lusi-
tania. which sailed out of Liverpool
harbor yesterday with $10.GO0,000 in
gold coin aboard-the greatest ship
= ment of the yellow metal ever made in
a single vessel. This is the advance
\ guard of the s26,500,000 worth of gold
e which has been engaged abroad to re.
lieve the monetary stringency here, and
the very news of its coming has done
much TO restore confidence and relieve
a the strain.
state Broke for Day.
q Springfield. Ill, Nov 2-The state ot
, Illinois was broke" last Wednesday s,
a far as legal tender was concerned
When pay day came around the state
!! treasury was quickly emptied of gold
j. silver and currency. A telegram wa.
If dispatched to Chicago banks asking 70
currency, and a reply came that moth
% ing but cashiers checks would be seni
Is The dilemma was solved, however. b.
le application to local bank, which ful
e. nished $4,000 in legal tender and Al
employees were paid as usual.