Show CERTIFICATES NOT FOR PUBLIC Small Investors Will Not Get a Chance at 3 Per Cents Of Offered Offered Offered by Cortelyou INTENDED FOR THE BANKS CIRCULATION EXPECTED TO BE INCREASED Washington Nov 25 A more moro confident tone in regard to the success of ot the new loans bane prevailed at the treasury depart department department ment mont today than at any time since the announcement of ot the loans a week ago The visits vl of ot Mr Morgan on Friday and Saturday were followed today by a visit from James B Forgan president of the First National bank of ot Chicago Mr For Forgan Forgan Forgan gan saw the president Secretary Cortel Cortelyou Cortelyou you ou and Treasurer Treat and his belief bellet that the banks throughout the country would be soon in a position to resume cash payments The subject is jg o ot of peculiar Interest to the treasury officials because for tor nearly a month government receipts have been declining as a direct result resul of ot the scarcity of ot currency Unable to Secure Currency Distillers brewers and others who are required to purchase internal revenue stamps tamps have not been able to secure cur currency rency in sufficient quantities quantifies from the banks with which to purchase these attempts and as the collectors are not al allowed allowed lowed under the law to receive r elve certified checks hecks or anything but lawful moneys money mone ex f pt at their personal risk the result has neen leen that even a sufficient amount of ot stamps to cover Immediate needs has been difficult to obtain The government is In Insisting Insisting insisting that depositary banks shall as soon Boon as possible meet the demands for currency in this respect There seems to l le be e a general desire de lre among the bankers in N Ne Y York Chicago and other sub treasury cities and financial centers to resume currency payments at the earliest possible p moment and Mr visit was made with a view of ot learning the views of or the Hie treasury officials on this particular subject Chicago Ready to Resume Mr Ir Forgan represented that the Chi Chicago Chicago cago eago banks would be able to resume upon an understanding with the banks in oth other er tr cities within the next week or ten days at the latest Minneapolis and St Paul banks he said were quite Quito ready to re resume resu resume sume su at any an time and might take the In Initiative Initiative inItiative in this respect very soon It Is believed among the treasury officials that thata a complete understanding was arrived rt 1 t between the banks of ot New York Phila Philadelphia Philadelphia delphia Baltimore Cincinnati Chicago St Louis Lou s New Orleans and San Francisco hy by which there will be a general resumption resumption resumption tion of currency payments within the next few days and possibly before the close 01 ot of r the present week The reports received at the treasury de department department today from Hew r ew York Chicago and Boston Beston are that currency payments by the banks are on o the increase and that the situation at those tho e cities and in fact tact at It all other points is rapidly improving Money Sent to Interior It is learned that New York and Chi Chicago Chlo cago eago o are at present making dally daily ship shipments shipments shipments ments of large sums to the centers of ot the tho west and south and it Is confidently believed that these shipments will ill be continued in Ir increasing amounts until normal conditions are again reached or until the necessity n for tor them has passed In addition to the discussion of ot cash re resumption resumption resumption Mr Forgan left tangible tan ble evi evl evidence deuce dence of his visit in a subscription by bythe bythe bythe the Chicago clearing house banks of ot az azof 2 of ot the new certificates Additional amounts of these certificates are steadily coming to the treasury as security for tor bank note circulation Thea represent allotments made by Secretary about the middle of last week Panama Bond Subscriptions for tor the Panama 2 per cent ceni bonds are arc also arriving In large numbers These subscriptions are so numerous that it is not expected that It will be possible to open schedule sch ule and the bids before closing the treasury department on Saturday night after the time for sub subscriptions expires at noon It may indeed require more than han one day to complete the classification and comparison compari on of bids in tn order to determine which bids are the thc highest The Th Th dally daily cash statement of the treas trea treasury tre ury ur does doe not yet show the effect of any considerable payments for the new cerU certificate This is partly because only ony X 2 per cent of the face value of the amount sold eold is paid into the treasury in cash while the remaining 78 per cent is left with the banks on deposit depo lt It is also due In a considerable measure to the time re required for tor advice from on oni one office to an another another another other of ot the transfer of funds For the Banks Only Although applications and cash depos deposits its for tor the new treasury certificates are ard being received at the treasury treasur In Increasing ing mi numbers from individuals as well as astrom from national banks it is learned that no allotments have thus thull far tar been made ex cx to banks that desire to us use them as asa asa asa a basis for circulation All AU applications application received from individuals and from banks whose limit under the law has been reached are being laid aside for tor the time being 1 and if It allotments are arc made to them nt lit all aft it is believed it will not be as 83 ion ionas long longas as the present strong demand enand continues continue for them from Crom banks de dering ring them for tor circulation purposes el The declared pur par purpose purpose pose pOlle of Secretary Cortelyou In issuing the certificates was to Increase the volume of outstanding currency J md nd this object tt it itIs is 18 said can best be accomplished acc through the increased issue of national bank notes and for tor the present at least the efforts o othe of the treasury officials will be in that dl petion |