The Birmingham age-herald., 1908-01-24
SENATOR STONE
 TALKS ON PANIC MiSSourian Declares Cash Was
 Not Well Distributed SOUTH AND WEST SLIGHTED Senator Stone Says That Had Funds Been EquitabIy Distributed During stringency Kansas City Would
 Not Have Suffered.
SOUTH AND WEST SLIGHTED

ashington, January 23.-Senator Stone of Missouri today presented sta tistics of government deposits in na- tional banks to show that the distri- button of money during the recent cur rency stringency was not equitable" as contemplated by the law governing the treasury department He declared that the west and south were discrim- mated against, while New York and Boston were favored. His speech was on his resolution pending in the Sem ate directing a committee to investi- gate and report the facts in these transactions.
 Senator Teller followed with brief comment upon the action of the Sec retary of the Treasury, declaring that the placing of money in New York city during the panic was fully Justified He paid a high tribute to the rich men, who he said had promptly offered prac tically their entire capital in order to stem the tide of disaster in that city. which threatened the whole country.
 The Senate devoted the latter part of the session to consideration of the bill to revise the criminal code. and at 4:14 D. m. adjourned until Monday.
 Stones Discussion.
 Senator Stone of Missouri discussed in the Senate his resolution directing the committee on finance to report as to the distribution of money in public Repositories by the Secretary of the Treasury. Mir. Stone read from official statements showing that on August 22, 1907, there was deposited in national banks. s14S.2s2.39S. and on December 8. 1907, s223,117,0S3, an increase in three and one-half months of $79,826.- OSs. He found that this increase in de- posits had been distributed as to give New England an increase of 47 per cent over the former amount placed there, the middle states an increase of 94 per cent, the southern states 35 per cent. the western states 10 per cent, and the Pacific states per cent
 "These increases" he said. show a startling condition in the deposit of money in the different sections, and shows to my mind an indifference to, and an utter failure to observe the re- quirements of the law"
 Boston. he said. in the same period had an increase of 5S per cent, New York 15S per cent Philadelphia 67 per cent, Pittsburg 66 per cent. Cincinnati 99 per cent, Cleveland 159 per cent, fn- dianapolis per cent, Chicago 123 per cent, Minneapolis and St. Paul ll7 per cent, St. Louis IF per cent, and Kan sas City one-third of 1 per cent.
 Funds For Boston.
 "Roston." said MT. Stone, with less than one-thrd of the population Of Chicago, gets practically as much of these public funds for it's national banks as was deposited in banks of Chicago"
 MT. Beveridge inquired whether the senator from Missouri had inquired of tbe Secretary of the Treasury why these discrepancies had occurred, and MT. stone replied that he had not ad- dressed any inquiry to the Secretary of the Trea sury on that bject.
 MT. Shoot asked if it was not true that Boston was the center of a great CT population and of a greater business than Chicago.
 ..I should say not" said MT. Stone.
 MT. stone said the capitalization of
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