Deseret Evening News | 1904-02-04 | Page 1 | Secy. Shaw Calls on National Banks

SECY W C CALLS CALLSON Ll ON NATIONAL Tm Al BANKS Requests to Make Malte al C ate for Payment Of 20 o Per Cent on Demand OFFERS TO BUY SECURITIES Call Occasioned by hy I Tact Fact rac That Govern Will VIli Have lo to Put lip on Oil l Canal Ca uial Washington Feb reb Rha I to today toda today day da Hit tut the tho following letter to nil ni nn urn 11 bank depositories holding special government lf regarding live hive calls for tor or funds on account of or the Panama canal cattai purchases Sirs his It I seems probable that the tho government will wil be bo called upon Ullin In II the tho near future to 10 pay 11 jua preliminary ary arr to the tho construction of r f an Inter hitter oceanIc canal In addition to this there ther are outstanding approximately OOOO bonds bond which by Iy their terms mature on Oit Oi Fob Feb 1 I WO I OI I and Congress Is II considering a n proposition to lonn loan he be to the thc Louisiana exposition To ro meet meol these probable demands It will wi bo he bon necessary n ee to withdraw rw nt ot least coo 0 from depository banks hanks You Yati are lre therefore requested to make Ilke Immediate preparations for tint the pay payment OY ment on demand of lt 20 per ier Cr cent lent at nt New eI York In tho the near future po Ilo within 10 jo days 1101 yon ou will wil bo hc asked to te title this amount to tl some semite 1011 ono one of the New Ne York depository c banks to 10 o be ho Used toted In lii 11 for tor the th canal right of or o II If I you 01 desire It to tn sell If nt once R B por Ion tion tOI of ot the Uw itt securities now MIl lucid held by h tie tho government against t your deposit you 01 will 1 no M Inform this titis and Inc arrange merits manta will aill 11 be ue made tar for time the Ih Immediate transfer so o as 08 to avoid actual with wih tl I front from channels of ot trade 1 The he department will vIll 11 surrender no United States 1 bonds lick held as ns security for IA with wih 11 bank until such uch honk bonk linn withdrawn all ni state anti ami municipal londs hods now held h ld as is such security and securities of at the District of ot Columbia Philippine Islands and a ad Hawaii will wi vil I bo Ito retained If I desired Please acknowledge c receipt fully It I M I HiA W V Secretary AMOUNT I York Feb Icu 4 lc cy call for tor a I 20 per 1 cent rent payment of ot the tan II canal motley will wi take a it I little more than from flOI the thc depository banks banka of ot this city