The Montgomery advertiser., 1908-01-15
BOND ISSUE AGAIN
CULBERsON WANTS MORE INrOR-
 NATION FROM CORTELYOU,
DurinE the senate's session, Senator TflIrnan Offered n Resolufion Embodying New Series of InQufrfes Conccrning
 the Panic.

I
 Washington. Jan. 1I-The recent bond issue by the Treasury Depart ment was again the subject for dis. cussion sin the Senate today, being brought forward by a resolution of- fered by Senator Cuiberson calling on the Secretary for additional informa- tion concerning the reasons that in- dueed him to award bonds to national banks instead of to individuals, who, he declared. offered a higher price
 Mir. AIdrich insisted that the reso- iution should not be adopted until af- ter Secretary Cortelyou's @eply to a resolution formerly adopted by the Senate was received but promised to aid in securing additional information if that reply was insufficient. Mir. Gull berson's resolution went over under the rules.
 During the session. Senator Tillman offered a resolution embodying a new series of inquiries concerning the finap- cial situation.
 The Senate passed bill appropriat- ing s3,000,000 for 8 site on the south side of Pennsylvania Avenue, Wash ington, opposite the grounds of the White House for a building for the departments of State, Justice and Com merce and Labor.
 A bill to appropriate $10,000,0 ,00o to purchase 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 a previous session. Un- der objection the biil went over.
 The resolution offered by Mir. Gull erson today directed the Secretary to inform the Senate of the amount of notes issued by each na- tional bank to which was awarded the Panama bonds under the Treasury cir- cular of November IS. 1907, which notes were issued in consequence of the award of those bonds.
 Mir. Culberson said that the act of Congress under which these bonds were awarded, provides distinctly and une- quivocally" 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 pre- scribe giving continued Mir. culber- son, ''to all citizens of the United States an equal opportunity to sub- scribe therefor"
 Not only that" he added, 'the cir cular of the Secretary dated November IS, 1907. contains this statement; Tn considering bids the bidders onering the highest pricesswih receive the hfst allotments.'
 q desire to submit to the Senate one or two facts which indicate that the Secretary of the Treasury has violated the law in issuing the bonds ne mas awarded"
 He wanted this resolution adopted at once. he said, in order that the Sec retary might reply to 1t when he sends in his reply to the resolution offered by Senator Aldrich. He read letter from I. T. Coston, of Osceola, Ark, who said he had bid for $2.S00,OOO 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 1O4.4 for S1 .OO0.O0O of the bonds and 1885 for S1,5O0.000. He had asked the Sec retary for an explanation and had re" ceived the following:
 .In reply to your letter of the 18th inst. you are informed that the de- partment did not accept any individ- uaI bids where the amount exceeded s1O,0 ,00O."
 The letter was signed by J. H. Ed wards, acting secretary
 Mr. >Culberson said he had let ter from an attorney in thls city say ing he had bid 104.20 for $105.00O of the Panama bonds. Bonds had been bid for by individuals. he said, az rreVattng S27, ,000, ,0O0, and not one Of these bids was below t02 5-S and yet, according to the newspapers, bonds were awarded to national banks aggre- gating s7,262,50o the bids for which were below those of individuals
 Mir. Aldrich asked that the reso- fulton be not pressed until the secre- tary's reply is received. The resolu tion went over.
 Mir. Tillman onsred resolution cal- ting on the secretary of tho treasury lor information concerning the insoI- vent banks. as follows:
 ThA number cf hHnK associations that have been placed in the hands Of receivers as insolvent since Jan. l, Is93; the capital stock of each associa- tion; the naIne of the receiver Of each such association, together with tho names of all attorneys or speclal en pluyes under such receiver, together with all the compensation paid them for such service. the states from which