Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-04-30
BANKS TO GET TAX FUNDS
AS IN PREVIOUS YEARS
Secretary of Treasury Also Agrees to
Consider Demands for Larger
Redeposits.
Bankers Not Enthusiastic on 1ntra-
District Free Collections-Capita
Traction Stock Higher.
BY I. A. FLEMING.

National banks in Washington will
receive the usual amount of redeposits
of tax funds. prorated according TO
total deposits of the banks. This in
formation, which is all the more well
come because there was a doubt as to
the continuance of the custom, was an
uounced through the office of the Sec
rotary of the Treasury in a letter to W.
T. Galliher. chairman of A committee
appointed to urge the claims of the
bankers by the Washington Clearing
House Association.
Furthermore the Treasury Depart
rent has announced that in the event
of conditions being such that addi-
tional funds are required the applica-
lions of bankers therefor will be ia
vora bly, considered
Il is expected that the tax payments
This year> will be close to S1.000,000,
pract .cstly all of which will come out
of the banks and be paid to the col
l"Ctor of taxes by May 81.
Hepayments TO the Treasury Depart
mert will be made 20 per cent July Is.
"a per cent August Is and thereafter
monthly 10 per cent until repaid. I'M
less extension OF time of payment is
allowed. as In the case of some banks
YEAR ago. following the StrIngenCy
attending the outbreak Of The war
Not Enthusiastic on Collection.
May Is is the date set by the Rich
rond regional bank Of the federal re-
serve system for Inauguratiag an intra
district free collection of checks be-
tween member banks in the fifth dis
triet, that shall have stsnitied their
desire to participate in the movement.
Washington is in the fifth district.
but so far as can be ascerrained but
few banks have decided whether or
not they will send checks for collection.
There will be no change in methods
of handling checks between Washing
ton banks, the usual daily clearings
being all-suffcient. Some bankers be-
lieve that the balances they would
have to carry in the Richmond regional
bank would be SO heavy as to make
participation Improbable. Others hest
tate because it will be an innovation,
and for the added reason that they
may avail themselves of the system,
should they deem it advisable. later on.
Capital Traction Higher,
The feature of the Washington stock
market today was the sale of Capital
Traction shares at 81. the highest price
since the removal of the price limits.
Immediately following the taking away
of these restrictions small sales were
made around IS and 81; later the price
Steadied to IS and within the last few
days rose to SO.
Washington Railway preferred was
also steady and firm at Sc. with some
odd lots at ssh.
Washington Gas was nominal, with
40. the asking price for some days. bid,
no stock being offered.
Bonds were fairly active at los for
Traction IS. 1914 for Potomac Console
dated IS and seq for Railway IS.
Financial Notes
The Pressed Steel Car Company has
closed with the Russian government
for s35.Oo0.Ooo to s4O.O0o,00o worth of
railroad equipment.
National banks are expecting a call
from the controller of the currency
within the next few days. Last call
was March 4.
Gold to the amount of $4,000. 100 has
been imported into the United States
since April Is. s1.00O.Oo0 from Japan
and the balance from Holland. In all,
the imports to April 81. from January
l. 1915. total S51,975. 900, Ottawa, Can
ada. the British gold base furnishing
the bulk of the yellow metal
SIX months maturities of commercial
paper are salable in New York at 3A
per cent.
The American Can Company has
hooked foreign order for eleven mil
lion dollars worth of brass shells.