The San Juan islander. [volume] (Friday Harbor, Wash.) 1898-1914, 1908-01-18
MONEY TALK Put OFF
GOVERNMENT BOND SELLING
eugJEcT OF ANIMATED DIS
CUSTOM IN SENATE.
consideration Postponed Pending Re-
,ort From Secretary Of Treasury
DISSOLUTION Passed Calling for lnfor-
nation Regarding Purchases by Rail-
,o,ds of Stocks of Other Roads.

nation Regarding Purchases by Rail-
roads of Stocks Of Other Roads.
Washington, Jan. 1.-THE recent is
-,o of bonds by the secretary OF the
troasurv for the purpose of relieving
,bo financial stringency was the SUBJ
;oct of an animated debate in the
.onate Yesterday. The discussion was
nrpcipitated by an inquiry by Senator
ruberson and was participated in by
Senator's Aldrich, Tillman and Bailey.
# resulted in an agreement to post
meme further controversy on finance
until a statement can be received from
secretary Cortelyou. While the sub
;oct was under discussion Mr.. Till
mans resolution directing the finance
committee to inquire into the opera
tions of the treasury department was
referred with his consent, to that COM
mittee.
The senate passed Senator Tillman's
resolution calling on the interstate
cGmmerce commission for information
concerning purchases by railroad COM
NAMES of stocks of the competing
roads.
The unfinished business in the form
of the bill to codify the criminal laws
Of the United States was placed be-
fore the senate and the reading Of the
bill was begun.
Report Awaited.
After short discussion concerning
the recent bond issue it was agreed,
before taking up the question in de-
tail to await report from the secre-
tary of the treasury, which Senator
Aldrich assured the senator's would be
before them on next Thursday. Mr..
Clay, of Georgia, asked whether the
secretary would be required to make
report of these facts by law. Mr..
Aldrich replied that he believed he
was so required, but there was no pro-
vision of law STIMULATING how the re-
port should be made.
Mr.. Culberson insisted that the duty
of the secretary under the law was to
make such statement on or before
January 1, for the preceding year, con-
corning the deposits of public money.
He said he had not seen any such
statement
Mr. Til1man referred to two resolu-
tons by him which had remained on
the calendar since December 9, calling
for information concerning clearing
house certificates and the bond issues,
and that he thought it would be best to
let them go to the committee on
finance without attempting to pass
them without reference to that COM
mittee He said he wished to lay some
correspondence on this subject before
the committee, and read from the vice
presidents desk a letter from George
H. Kloebers, of Wilmington, DEL, stat
ing that he had bid an average of
1912 for $4,000 of Panama bonds and
had not been awarded any of them,
although they had sold for 1924.
Letter Is Read.
-ul. llll1ldu WdutOu " hAOW AO -
happened that the bonds had been sold
to the banks at a lower price and de
MED to citizens who bid higher for
them. He also read a letter from As
sistant Secretary Edwards Of the treas
ury department., to Mr.. Kloebers, as
follows:
In reply to your inquiry of the 18th
instant, you are. informed that indiv1d-
ual bidders whose bids we're greater
than $4,000 were not allowed any
bonds"
He also read another letter from
correspondent in Augusta, Ca, who
wanted to know how it had happened
mat the secretary places vast cur
rency in New York banks" to relieve
the financial stringency, while these
banks charge IN per cent. premium
On this money to Southern banks
The Stringency seems to be source
OF profit to some one" Mr.. Tiilman
correspondent added.
Mr.. Bailey, of Texas, wanted q
know whether Mr.. Tillman's Delaware
correspondent was the man who insti
tuted suit against the secretary @
The treasury in the matter OF the awaro
OF these bonds. Mr.. Tillman did nol
Know whether the Injunction suit nae
been brought by his correspondent
AS some courts have been 90 glao
to issue injunctions," said Mr. Baileg
81 think thew would be glad Of -