Northern Wisconsin advertiser. [volume] (Wabeno, Wis.) 1898-1925, 1907-11-28
IMPORTANT FARLEY ON RI
NANCES TAKES PLACE,
BOND ISSUE SUCCESSFUL
Secretary corteIyou Announces Tina.
SO Many Applications Have Been
Received That All the New Seeur-
tiles Will Be Taken-More Support
for Federal Bank.

Washington, Nov. 23.-A confer
ence was held at the white house
last night between President Roose
welt and ]. Pierpont Morgan, George
+. Baker, president of the First Ma.
tional bank Of New York, and Assist
ant Secretary Robert Bacon. Al
though the nature of the conference
was not divulged, 1t is believed to be
in relation to the financial situation.
Upon leaving the white house al
l1:25, after being with the president
an hour and half, Mr.. Morgan, on
being asked In regard to the develop
ments, replied that conditions in
New York were reassuring. He said
that everything possible was being
done to relieve the money stringency
and that the situation was satisfac
tory. He said also that his obiect
In coming to Washington was to see
Secretary Cortelyou In furtherance OF
conference he had with the score
tary in New York last week, at which
time means were discussed for fur.
uher relief OF the situation. He saw
Cortelyou before going to the white
house. He said he called on Presi
dent Roosevelt to pay his respects
Morgan probably will return to New
York today He could not say
whether he would again see the pres
ident before leaving New York.
For Federal Bank.
st. Paul, Nov. ga special from
Washington states that Senator Hans
brough of North Dakota will urge con
gress to establish a. central bank of
Issue. He is quoted as saying:
AT a proper time hope to intro.
duce bill providing for the estab.
hshment of a federal central bank of
issue, to be located at Chicago or st.
Louis, and To be under the immediate
control of the secretary of the treas.
ury.
1t might be well to authorize this
bank to issue currency secured by
United States bonds, or, being in
fact a government institution. its cir.
culation could we'll stand upon its
reserve funds, and, II need be, on its
general assets.
Issue Already Successful.
Washington, Nov 23.-The score
tary of the treasury stated last even.
ing that subscriptions to the three
per cent. certificates were being re.
ceived In large numbers and that the
issue was already successful. In ad-
dition to subscriptions from indiy ldu-
ais. many national bank repositories
in the crop moving sections of the
south and west are availing them
selves OF the opportunity to purchase
certificates and receive a large por-
ton of the proceeds as deposits upon
approved securities, and Increase
their circulation to the amount of the
registered certificates, In the discre-
ton of the secretary of the treasury.
The beneficial effects of this In.
crease Of circulation will be prompt
ly felt at points where it will be most
helpful, and the government will be
enabled to make collections and ex-
penditures in such a manner as not
tc be a disturbing factor in business
operations.
Resume silver Coming.
Denver. Nov. 23.-The Denver mint.
which has coined about $4,000. 900 o.
gold during the past two months, will
resume coming silver in December,
working to its full capacity. Silver
coins to the value of $4,000 daily
viii be produced, and will be immedi-
ately put into circulation.
Bank cIearings Slump.
New York, Nov. 2S.-The total bank
clearings compiled by Bradstreet's for
the principal cities of the United
States the past week were s2,2S7, O60.-
600, against s3,495, sos, 900 in the cor.
responding week of last year.