Show CORTELYOU TURNS I ION ON HIS HS CRITICS May Reject All Al Domestic ApI Applicants Applicants Ap Ap- Ap- Ap and Get Money I Abroad BANKERS EXACT PLEDGES Demand That Purchase Money Be Left Lef on Deposit With Them New York Nov No 20 New O. New York banks are arc making such demands upon the treasury department In Iii connection with the proposed sale ile of oC the tue wih certificates of oC indebtedness b by the tho government government government gov gov- that It wa was rumored tonight ht In Walt Wall street that the lie government gO might seek money directly In Paris cutting out all al hankers In itt the United stated States under the terms of the Issue these notes can cami be ho purchased by anybody rc rc- ws of v nationality During the tho Civil Civi War Var the government went abroad for Cor money and thero Is ample amplo prece dent for doing doing so now Secretary Cortelyou has reserved the tho Eight rIght personally to dispose of oC o oC these notes It I was hlf Intention tion ton i It 1 is understood when he made this reservation aton to turn the notes over to a syndicate of New York bankers Now Kow that tat New York bankers are arc de demanding de- de mending manding pledges es from Crom the government le and arc are criticising ln the tIme secretary's 8 ac acton ac ac- ton tion it I Is la believed ho lie may take mat mat- tors Into his own hands and remove all doubts as to the tue success of or the Issue ni of the Hunker flankers Among tho the pledges bankers are seeking seek seek- ing to exact front from the secretary of or the treasury Is one that he will wil lot let the purchase money remain on depo deposit lt with the banks making tho the purchase Tho The new certificates are to bo be held hell as se security so- so for Cor this deposit until such time as the tho l purchasing bank batik can cami substitute railroad bonds tho the new ne certificates to toDO DO bo immediately Immediate used for circulation The Thc result resul of or this will wi be bo to Increase I Ithe the purchase of oC bonds without ing Ing tho the circulation Crl Criticise Secretary's Secretary Cortelyou Is understood to have taye perfected t d plans for Cor shipping to interior cities CItes the tho tie reserve money moncy re re- re re 1 In payment for Cor the bonds bond Bankers Bank Bank- Bankers ers claim this is not sound finance rhe racy rhey claim crops are aro moved mo el most speedily by having largo large quantities of cash In Now ew York Tho Thu reason for this Is that exports are seldom mado made without without with with- out a sale of ot a bill bUI of ex exchange ex- ex change chan o with wih tho the bill hil of lading attached In New York Some exports experts of ot International finance claim that experience proves that on every occasion when tho the government has deposited mone money In the Interior for Cor crop moving purposes it has baa boon been necessary necessary essary to draw tho the money to Now York before J finally disposing I of It If the tho j I money In Is deposited 8 at c In Now YorK It It saves eaves s about two wook on a n shIp hip tor for export n I 1 ire Hm t 1 M Mf 1 Now tl f York C curb market 1 toy today fr the f 3 e since otc Call funds ud ad- ad to lj 1 Ii per cent cent Tho Thu reason raol fo Cor or orthis this Is e that bunkers rs uro itro Iro accumulating cash to purchase of C time new 3 par or cent issue hero TherO was much uch forced fored liquidation and as a result several of tho the active stocks moved to new now low records Liquidation in bonds was also ble bh e. e One Ono of or tho thin known boat bankers In the United States who has lies been In close chose touch with wih tho time Washington program went so far lar as to say that the Uw note Issue would be le a failure as ns an expedient money mone market relief unless Secretary Cortelyou made It I possible possible possible pos pos- sible for Cor the subscribing banks to ro- ro a government deposit of the purchase purchase pur pur- chase mono money and In addition to take takeout takeout out an nn equivalent amount of oC new cir clr- cula lon |