Daily press. [volume] (Newport News, Va.) 1896-current, 1907-11-27
Demand for lhe New Government
Loan Far h Excess Of lhs
Demand for Them.
sOpiR Cent 60 70 NATIONAL Banks
6ida WIN Be Received Up to Saturday
Afternoon, But Late Corners Vim
Receive scant cousidera.lon--pres.
'deDt and Secretary cor.olyou confer
Win Representatives Of Farmers.
lpy Assoclnted prcssl

NASliiNGTON, ID. c., Nov &c -
more We're several important develop.
menta today in tho plans OF the Treas
nry Department for aifording roller
10 the money market by the Issue or
new securities.
Secretary Cortclyou stated that OF
me amount paid for the lnnamn Can
al bonds, 90 per cent. would be dopos-
lied win national banks purchasing
such bonds. All the Indications point
70 u large over subscript!on Tor the
bonds Tho BELIEF was coniidontinlly
expressed AZ the cabinet meeting Ia.
day that the Joan would DO taken scy.
oral times over and that the an
houncemcnt OF the fact would have
most stimulating influence In rcGtor-
Ing confidence.
The bids for the bonds Will be re.
eelved zip TO half past o'clock on
Saturday afternoon.
An important Iact. rotating to tho
one year treasury certificates Ia that
already the amount allotted approx
mates $4,000, 000 or this sum, only
about $4,000. 900 has yet been pledged
Jas security for circulation. but the
ceruiicates are being delivered 10
tho custody of the United states
Treasurer as rapidly M tho banks
are notified OF their alleimants.
Gallo Exceed Estimates.
Already the amount of national bank
note circulation taken ont during No.
vcniber slightly exceeds 81 600, 900.
which Is beyond tho estimate OF the
Treasury Department three weeks
ago.
me recommendation TO be mndo
by tho Secreary OF tho Treasury In
regard TO financial legislation ara still
me subject OF many rrmora and quea-,
tionable reports. It ia not expected
In wen Informed circles that the Sec
Fetary VIII 60 Into great detail In pro.
Hehung II plan. 1t is generally ad.
united that some form OF emergency
circulation should BIO authorized bnt
thcra Is a difference of oninion 40 10
the form OF the now issues ana tho
them. At''
me administration 80 not In favor
ion the project for guaranteeing bank
aepcSits proposed by William Jennings
ilr!an. II Is not considered prac-
tic'li measure ut the present time ana
there is strong opposition TO tho NOV.
ernment giving guarantee for INV
banking obligation.
President consults With Farmers.
RI +, Duekworth OF Atlanta CHAR.
man OF the Legislative committee OF
the National Farmers Union. and G.
i. Ladson. consulting attorney for
me Union. met President Roosevelt.
and Secretary Cortclyou by appoint.
ment at the executive oifice today
and discussed remedies for financial
depression. After the ipt,ryieyv
MesSis. Dckworth and Ladson is,
sued statement IN which they ex.
pressed their satisfaction with the
lhct that the views OF the Preaidonf
and the views OF the National Farm
ors. Union would probably coincide
and that the, Union would pursue it's
own campaign methods to urge mem
bers OF Congress to act. It waa
stated that the National Farmers.
Union Is n non-political organization
Mr. Duclsworth aud Mir. Ladson win
confer with Postmaster General Never
tomorrow on tho matter OF parcels
post and postal savings banks.