New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-08-06
STOP MINT[NG PENNIES
THE DEMAND CONTINUES.
Boys Still Reaping HarUest-Sculp-
tor -4RgTy at Change.

tor IngTY at (hdnge.
Treasury Department announced to-day that he
had decided 10 have the minting OF the Lincoln
pennies stopped for the present. and that
dies would he prepared soon possible. eliml-
mating the initials of the designer. which now APP
pear prominently. and substituting the single
initial r. I'm obscure part OF the design. The
Secretary said that none OF the pennies issued so
FAR would he called in. hut that the mintiug would
he stopped because a SUFFICIENT supply hand.
The initials V. u. p. those % the designer. V.
u. Bremen OF New York and the single initial. in
an inconspicuous place. will he left in the
dies recognition Of Mr. Brenner's work
This decision 10 changing the dies created
much surprise. = it was announced a, the Treas
ury Department yesterday that the new coins would
be continued IN circulation for the present least
ana that the use OF the initials them merely
I'm line with custom that had prevailed for years.
The prominent position given the initials however.
awakened widespread criticism. and tO-day's action
followed the further consideration Of the matter
Mr. MacVeagh said to-day that he did know
that the initials would appear In embossed form
on the pennies and that he surprised when
he the prominent place they had In the de-
sign. II had been customary In the past 20 allow
designers 10 cut one 81 their initials into
the design somewhere. but these letters usually
had been small as 10 require magnifying
glass TO discover them. on the lincoln pennies
Mr.. Brenner's initials appear directly under the
two sheaths. and in the same character OF
letters though not quite so large the denomina-
ton and the words In God We Trust"
Demand for the pennies at the Treasury
tiEued to-day practically undated. A large con-
sgnment received from the Philadelphia mint
this morning. and difficulty was experienced In
meeting all requests for them.
Up 10 this morning. according 20 figures given
out at the Mint Bureau late this afternoon t2s5.-
90 Of the pennies had been struck or this amount
$500 worth we're sent to Washington Practically
the entire amount has been disposed OF by the
Treasury.
The demand for the Lincoln pennies contln-
ued with ursbated vigor Yesterday and the run an
the local Sub-Treasurv was greater than On
Wednesday. when they ere first distributed The
Sub-Trcasury. which had closed hour later than
usual on Wednesday afternoon. opened at 80 In
stead OF 10 O'Clock yesterday morning. At thai
time there line OF PERSONS. mostly boys
tending from the Pine street entrance OF the build
ing around the corner OF William street half wav
10 Wall street An extra window opened and
more men were put to work wrapping up and dis
tributing the coins and a result they were paid
out much rapidly than the preceding day
Shortly before o'clock the supply was exhausted
and the doors closed on The penny mad crowd The
SubTreasury officials stated that they had paid
four hundred thousand OF the pennies during
The day. against three hundred thousand on
Wednesday. making the total for the days seven
hundred thousand.
That the demand not over. however was
shown by the fact that when the doors closed the
line OF waiting boys long as Il had been at
any time during the dav and another rush is ex-
poced to-day, provided fresh supply is received
from the mint George S. Terry. the Assistant
Treasurer. said that he had telegrsphed TO WASH
ington for the coins. but did not know
whel they would be received
The SubTreasury officials beginning 20 hone
that the will not last much longer It Is in
terfering with the regular work. Ten men are kept
busy wrapping up the pennies in rolls containing
from 10 TO SO. the latter being for the banks
and number OF clerks have to be duty at the
different distributing windows II also requires sew
eral Sub-Treasury attendants in addition 10 a squad
of police TO keep the crowd IN order and see that
they do not break into the line.
The run Is the biggest In the history OF Wall
Street and never before there such a demand
for subsidiary coins the officials say Mr. Terry
was early forced TO send to Police Headquarters
for more patromen as the six on hand at the
opening urable to cope with the situation
Half dozen more were sent I'm addition 10 four
mounted men. Some of the banking houses In the
neIghborhood of the sub-Treasury complained of
the crowds blocking the entrances their Offices
and the police made all those In line stand close
TO the curb. and kept The spectators. who were
almost numerous as the penny chasers. moving.
The demand for the pennies from the banks yes
terday also much greater than the proceed
ing day. and between twenty and thirty messengers
from the various banks and trust companies were
on hand at the opening to get their allotment
which was $40 for each bank. These messengers
we're admitted at the front entrance and received
their pennies AT a different window from those
where the individual, applicants being cared
for Out-oftown bar'ks sent about $4,000 in drafts
for supplies OF pennies. but those applications
Mr. Terry forwarded to Washington. as he had all
he could do to take care of the local demand
Many merchants in the financial district sent
boys 10 the sdb-Treasury for the. coins and then
posted placards I'm their shops announcing that
Lincoln pennies would given In change 10 such
customers desired them. and the rush OF bust
ness that followed the posting OF the placards
showed that IT was good stroke of business on
their part
Boys were on every street corner in the financial
district selling the pennies three for a nickel
and did a land Office business. men and women
eagerly buying the coins. The street vendors also
got supplies OF the coins. and sold them to the
neglect Of their other wares. When some Of the