The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1907-11-29
SUBSCRIPTION
list IS CLOSED
NO MORE CERTIFICATES TO RE
ALLoTTED-AN OFFICIAL
oRpER ISSUED.

fIShl3AN1lON Wy -SF oeNiNtAis
cottelyuu has announced that, the sub
scriptep to the %arper-cent certificates
OF Indebtedness has been closed. This
action was taken on account of tho
large amount Of subscriptions which
have been received. Secretary Cor;
telyop's statement follows:
owing to the large mount Of sub
scriptlons received, the Secretary Of
the Treasury announces that the sub,
scriptton to the 8,per-cent. certificates
OF Indebtedness OF the net Of June IL.
1888. INVITED by the circular of No
yenber 49, 1907. is closed, and that
no subscription received after the
close of business on the 9th inst.
wifi be considered. Tho several us.
%slstant ~treasurers OF the United States
have been Instructed not to accept any
further Offers The decided improve.
ment in business conditions through.
out the country makes 1t quite posi-.
bic that the Secretary will not ex.
tend his allotmcnts further than those
already made.
Calculation are already being made
MS to probable conditions in the mon
ey market next spring and the ability
to calliln a part Of the certificates. II
the amount issued should be only
s5O.O0O,0OO and half OF these should
be paid on in six months. the inter.
est charges would fall materially be-
low the s3,0O0,OOO originally ~calculat-
ed Hron the 1ali issue for one year.
The sum of S25, OOO. 900 for six months
would draw interest to the amount ot
sST5,0go,s and an additional mount of
s25,O6t,OO6 for one year would draw
%$75O,OOO, making a total of sl,125.O 900.
Trcasury's Working Balance.
The Treasury will he justified, in the
opinion of the officials. in adding to It's
working balance as soon as money
marriott conditions permit. About ST.,
100000 will probablysbe added to this
balance by the proportions retained
from the sale Of bonds and certificates
next week, but the exact amount de-
ponds upon the amount and terms OF
the allotment of the onc-year certIf.
Gates.
If the certificates are generally used
to increase banknote circulation, this
alone will result in an, addition of from,
$50, 10000 100000 10 the currency
outside the Treasury, and, with the
gold imports and the new hank circ,,.
lation already issued, will make an
addition OF more than 100000 to
the new currency recently placed ut
! the disposition OF the market. The
nominal cash balance OF the Treasury
today a s241, 1921, but this was
subject to the deduction of 1924 .9S9,.
$50 in banks and elsewhere. leaving
only s6,463,6eS as the apparent work
ing balance. The cash actually held
in the Treasury stands at Sl19,43S.-
oil, but this is Offset by outstanding
checks and other demand liabilities
amounting to s112,9Si.3S3. Receipts
continue to fall below the average Of
a year ago. but were q little better to.
day than for the corresponding day
last year. ],
The month Of November thus far
has shown a surplus Of receipts OF g..
931.G45. rs against n surplus in No
vember. 1906. of $~i,799,147; but this
been obtained by keeping down expeu.
ditures OF more than ; 100000 during
the month, although for the fiscal
year beginning July / there has been
an Increase In expenditures OF more
than sl3. 100000.
Panama Canal Bonds.
The Secretary OF the Treasury is
making arrangements for opening the
bids for Panama Canal bonds which
were Invited by the circular OF No
ventber is. 1907, and which are to be
received until the close OF business
on November 30. At 4:3O p. m. on
that day a force of Treasury employees
will begin the opening and the work
will be, continued until all the bids
are opened and sufficiently classified
TO enable the Secretary TO determine
approximately the amount OF the bids
received and, SO far as practicable, the
names of the bidders who appear to be
entitled to allotment.
1t will not be feasible to admit the
public TO the Offices where the bids
will be opened. but a sufficient nun.
Der Of representatives OF the press will
be admitted SO that due publicity may
be given to any information the Sec.
rotary may desire to furnish.