The Washington times., 1913-05-05

WOULD HAVE MORE
DEPOSITS Or NONE
Southern Banker Declares 1t
Necessary to Secure More
Government Money.

Southern national banks want more
United States Government deposits or
TO dispose of those they now have. ac-
Cording to North Carolina banker who
called on the Secretary of the Treasury
tcday.
Col. William A. Blair. vice president
of the Peoples National Bank. of
Winston-SaIem. y. c.. when asked by a
Times representative whether he was in
Washington to get some OF the . per
cent Government deposits. declared that
he desired to increase the banks present
quota or dispose of it entirely.
The amount we have on deposit is
not sufficient to be profitable after pay
ing per cent interest" he said. ''an1
IL will be necessary to carr n larger
amount or dispose of the account en-
tirely.''
Colonel Blair said that business in
North Carolina is in a prosperous con-
dition and, with the exception of the
cotton and wooden mills. the industries
are not hampered by the proposed tariff
changes. He pointed out that Winston
Salem is the largest producer of plcS
tobacco in the world.
MeTSenIndler was III ueIldHu anu
stronger today in todays session Of
for a quotation lot Washington Gas
softened a little. and fifty shares sold
at s4A after fifty-three shares had sold
at IS. The bonds sold at 1os for $500
Trust sold at 142. The only other
transaction was the sale of four shares
of Federal National Bank at 1&.
The Investment Bankers Associa-
ton Of America has distributed to its
membershi a bulletin which treats
chiefly of a comprehensive survey Of
sc-called blue sky" legislation to
regulate the purchase and sale of Sc
curities. The wide and unusual scope
of service that the association has
performed is indicated by the fact
that legislative conditions in every
State are covered bv the report which
prints in toto every blue sky" statute
that has been enacted to date Of is
sue, with other interesting matter
on the subject.
In a recapitulation of the status of
blue sky" legislation in the thirty
seven Legislatures that have convened
this year. the associations bulletin
points out that to date twelve States,
namely. Arizona, Arkansas. Idaho, Kan
sdS, MdlHe, MlsSouIl, MOHldUd- NoItn
Dakota. Oregon, South Dakota, West
Virginia. and Vermont, have passed
laws. The Investment Bankers Asso-
citation, which has already gone on rec
ord as favoring any well devised law
that eliminates the fraudulent dealer,
points out that in nearly every state
that has passed a blue Sky" law the
statute is a close copy Of the unrevised
Kansas act, placing unfair burdens on
the legitimate dealer. In some States.
II is to be noted, notifications have been
brought about through the efforts Of
the association members. its general and
assistant counsel, and local cooperating
bodies.
President George B. Caldwell an
nounces that the legislative and other
matters in which the association Is m
terested will be considered at a me ct
ing Of the board of governors to BE- held
In st. Louis. May 1s and II. 1t is cx-
pected that consideration will be given
to the income tax bill now before Con-
gress The place Of meeting for the
next convention Of the association will,
also. probably be determined.