The Montgomery advertiser., 1907-11-21
N. Y. BANKERS HOLDING OFF No Large. Bids For
 Certificates. FURTHER ASSURANCES WAIVED Currency Premium Varied Slightly
 During the Day. It Was Reported Yesterday That Big Loan May Be Secured In France
 with Treasury Certificates
 As . Basis.
FURTHER ASSURANCES WANTED

New York, Nov. 20.--The govern sment's issue of s1o0,000.000 in treasury certificates on indebtedness. continued today to engross the attention of New York bankers who apparently have not reached a de1nite decision as to the course they shall pursue.
 The subscriptions so far received at the local sub-treasury, seem to indicate thtat he larger banks in this city are temporarily withholding their offers of purchases. The sub-treasury officials are not disposed to make public the amount of subscriptions received there during the past three days. saying they are merely acting as transmitting agents for. the treasury department at Washington, to which point the offers ara being forwarded as fast as they come in. The fact that the banks are holding of for the time being. has led to the more or less definite report that tho heads of the larger banking tnsti- tutions are desirous of obtaining some sort of assurance from Washington that the money paid out here for the purchase of new securities. will be left on deposit in local institutions.
 The currency premium varied be- tween 3 1-4 and 2 3-4 per cent during most of today's negotiations with some transaction as high as three per cent. With the price of currency ruling at
 
 could not see their way clear to pur- chasing the certificates of indebtedness with other arrangement than the re- tention of the purchase money. on de. fposit in this city. The money shtp- rnents from New York to the interior have been quite heavy recently and the banks here are anxious to continue this means of assistance to tbe general financial situation.
 The advance in the price of currency today is attributed to the. demands from the interior for pay ron purposes. The calls for cash came yesterday from New England, but today they were more general and came in from nearly every section of the country. The ap- proach of the week -end always cn- livens the demand for ready money. There has been absolutely no Indication as yet of q syndicate bid for the trees- urv nartificntea forthcoming from as- soelAted tanks in this city such as has been iiatlmated since Monday, uVless II be in the fact that several large loans were called in, today. If there should be d joint sub bscription amounting to s2s ,000, 900 or more, 1t undoubtedly would be forwarded to the secretary ot the treasury direct to be considered n connection with such that the million of certificates which MT. .Cortelyou is subject to issuance at his personal dis- erection. .e ,3 Yr
 The revival of the reports today of tko possibility of a favorable outcome to the negotiations for an American loan in France with the treasury cer- tificates as a basis. has strengthened the ruuor of an associated bid rom New York bankers. the government securities when obtained to De so ar ranged that they may be considered as collateral for gold loans under the rules of the Bank of France. Some of the New York banks are said to be holding of in the matter of subscriptions so as to give the small investors with hoarded sSvings. chance to put Tn thsIr claims and thus draw into cir- culation me money for which the cer- tificates were largely designed.