Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1907-11-26
VISIT OF j. PIERPoNT MORGAN
WITH PRESIDENT TAKEN AS
EVIDENCE GOVERNMENT WILL
BE GIVEN COOPERATION.
NORMAL CONDITIONS
RETURNING GRADUALLY
SUBSCRIPTIONS COMING IN FOR
LOANS ENCOURAGE BELIEF
THAT TROUBLE is PASSED IN
MONETARY SITUATION.

Washington, Nov. 23.-The visit OF
j. Pierpont Morgan to Secretary Cor
telyou and the president last night is
generally accepted here today as an
evidence that the financial leaders OF
New York intend to cooperate with
the treasury department in making :,
success of the new loans.
The assurances brought by Morgan,
in regard to the improvements in
conditions in New York. With sub
scriptions still coming in for new
loans it encourages the belief he"e
that the corner has been turned in the
monetary situation and that the banks
of the country will soon be able to re-
sumo currency payments without re-
strictions.
No More Gold Needed.
The enormous amount of gold
which has arrived or been engaged is
felt rather more than sufficient to re-
store the New York bank reserves 20
the point of safety and 1t is believed
after the opening of bids for the Pan
ANA bonds, the situation will be such
| that further gold imports will not be
required.
Morgan Talks to Reporters.
Mr.. Morgan, accompanied by Geo.
F. Baker, president of the First Ma
| tional bank of New York, reached
Washington last night to resume with
| Secretary Cortelyou the discussion of
the financial situation. After dinner
with Assistant Secretary of State
Bacon, Mr.. Morgan, Mr.. Baker and
| Mr.. Bacon called on Mr.. Cortelyou
and on learning that the president
would be pleased to see him, Nj.
Morgan went to the White House, ar
irving q few minutes after 10 AMI
remaining until 1880. Mr.. Morgan
submitted to fire of questions from
newspaper correspondents as he
emerged to enter carriage.
81 came over to Washington to take
up with Secretary Cortelyou our dis
cussion of the financial situation.
which was brought to an end last
week when the secretary left New
York. said Mr. Morgan in reply To
! a question as to what explanation
could be given of his presence in
Washington.
| Called to White House.
II learned while with the secretary
that the president would be pleased D
see me at the White House, and
came here in response to his invita-
tion,'' he continued.
did you discuss the financial stu
alton with the PRESIDENT" Mr.. Morgan
was asked.
Yes he answered
did you take up with him the
question of financial legislation" WIS
the next question.
What have to do with legisla-
ton ]" responded Mr.. Morgan good
naturally.
Are you going back to New York
tonight /"
"No."
.Will you see the president again
before leaving Washington"
81 cannot say who l will see," said
Mr.. Morgan with smile.
'tHow is the financial situations it
improving?"
! Situation ls Better.
l 'sWe are working day and night
Yes, think it is improving. We are
doing all that can be done"
With that answer Mr.. Morgan en-
tered the carriage, was quickly follow.
ed by Mr.. Baker and Mr.. Bacon and
drove to the Arlington.
i There Is reason to believe that M
Morgan's visit was taken advantage
Of by the president for discussion
Of proposed legislation affecting not
only finance but corporations in con
nection with the treatment to be &C
corded those subjects in the presi
dents message to congress.
i AS announced several days ago, the
president is seeking the cooperation
4 of the captains Of industry in such leg
islation.