The Birmingham age-herald., 1908-01-15
Texas Senator Wants 10 Know Why Bidders Gould Not
 Get Bonds
PULLMAN PRESENTS
 NEN RESOLUTION
TilIman Wants Secretary cortelyou To Give Information About Bank Fail- ures and Receivers, Also
 Bank Examiners.

MaSnlnRIOn, January li-lne leCtHb bond issue by the treasury department was again the subject for discussion in the Senate today, being brought forward by a resolution introduced by Senator Culberson, calling on the secretary for ad- ditional information concerning the req sons that induced him to award bonds to national banks instead of individuals who had offered a higher price.
 Mir. Aldrich insisted that the resolution should not be adopted until after Secre- tary Cortelyou's reply to a resolution formerly adopted by the Senate was re- ceived, but promised to aid in securing ad- ditional information if that reply was in- sufficient. MT. Culberson's resolution went over under the rules.
 During the session Senator Tillman of fered a resolution embodying a new series of inquiries concerning the financial sit uation.
 The Senate passed a bill appropriating $3,0 ,00e for a site on the south side of Pennsylvania avenue, Washington, op- posite the grounds of the White House, for building for the departments of state, justice and commerce and labor.
 A bill to appropriate $1OOOO,OOO to pur- chase all the land on the south side of Pennsylvania avenue. between the capitol and the White House grounds, for the purpose of the location of public buildings as needed was discussed. The bill had been passed by the Senate at previous session. Under objection the bill went over.
 Culberson's Questions.
 
 today directed the secretary to inform the Senate of the amount of circulating | notes issued by each national bank to which awarded the Panama bonds under the treasury circular of November Is, 1907, which notes were issued in conse- quence of the award of those bonds. Mir Culberson said that the act of Con- gress under which these bonds were issued in consequence of the award of those bonds.
 MT. Cuberson said that the act of Con- gross under which these bonds were awarded provides distinctly and un- equiyocally that the bonds may be dis posed of by the Secretary of the Treas ury at not less than their par value under such regulations as he may prescribe, giving" continued MT. Culberson, ito all citizens of the United States an equal opportunity to subscribe therefor.''
 Not only that he added. the circular of the secretary, da ted November IS, 1907, contains this statement: Tn considering bids the bidders offering the highest prices will receive the first allotments.'
 q desire to submit to the senate one or two facts which indicate that the Secre- tary of the Treasury has violated the law in issuing the bonds he was awarded
 Quick Action Wanted.
 He wanted this resolution adopted at once, he said. in order that the secretary might reply to it when he sends in his ply to the resolution offered by Senator Aldrich. He read a letter from J. I. Coston of Osceoa, Ark, who said he had bid for s2,500,00O of these bonds and added that several millions of dollars worth of the bonds had been disposed of below the amount he had bid. His bid had been 1044 for s1, ,0O0.OOo of the bonds, and 1885 for s1,5oO.OOo He had asked the secretary for an explanation and had received the following
 Tn reply to your letter of the 18th inst, you are informed that the depart nent ulu not accept any lnulNluudl where the amount exceeded $1o.0oo''
 The letter was signed by J. H. Ed wards, acting secretary
 Mir Culberson said he had letter from an attorney in this city saying he had been bid 10420 for slO5O00 of the Panama bonds. Bonds had been bid for by indi- viduals he said, aggregating s27.90o,000. and not one of these bids was below 1928, and yet according to newspapers, bonds were awarded to the national banks asgregating s72&,500 the bids for which were below those of individuals. MT. Adrich asked that the resolution be not pressed until the secretary's reply is re- ceived.
 Tillman's Resolution.
 He insisted on his objection and the resolution went over. MT. Tillman of fered 8 resolution calling for information concerning the insovent banks fol- lows:
 1. The number of banking associations that have been placed in the hands of re- ceivers as insolvent since January l, 1893. the capital stock of each such associationa the name of receiver of each such asso- clation, the amount of compensation paid to the receiver of each association. to- gether with the names of all attorneys or special employees under such receiver together with the compensation paid for such service, the states to which they were appointed and their previous occu- pators.
 g. An itemized statement of the amount of money paid out by each receiver to creditors of each national banking as- socistion upon claims proved. to share holders if any. and the amount of assess ments levied upon shareholders of each such association
 8. In making appointments for national bank examiners. receivers, or special em- ployes is the treasury department gov erned by rules established by the civil service commission to determine the aual- ihcations Of anplica ants. or are such ap-