Jasper County Democrat, Volume 6, Number 48, Rensselaer, Jasper County, 5 March 1904 — FIFTY MILLIONS IN CASH [ARTICLE]

FIFTY MILLIONS IN CASH

To Bo P*l4 om the Panama Canal A boat April 1— Call oa the Bank* for Funds. Washington, March 4. secretary Shaw has notified all special national bank depositories, including those of New York city, that they will be required to pay on account of the Panama canal purchase 20 per cent, of thedr holdings of government funds on or before March 23. The 20 per cent, aggregates about $30,000,000, leaving about $20,000,000 to be supplied: from (he treasury. In view of news received from Paris to the effect that the French company at once would call a meeting of its directors and carrry out the formalities necessary to the transfer of the title to the property to the United States, it was thought best to make the two payments to the canal company and to the republic of Panama concurrently about April 1.