Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-05-06
HEAVY WITHDRAWALS
FROM BANKS THIS MONTH
Taxes, Real Estate, Personal and In.
come, With Other Demands, May
Call for Sc, 500, 900.
Washington Public Utility Bonds
Show Easier Tone-Lanston Di-
rectors Re-Elected-Notes.
BY I. A. FLEMING.

BY I. A. FLEMING.
Withdrawals of money from the
banks of Washington during the month
of May are the heaviest of the year
During the early months of the year
deposits accumulate. the high mark on
these usually being around May OF
each year. and the payment of taxes
after this may be said to be fairly
under way. Taxes this year are esti-
mated somewhere between s6,50o.000
and $1,000. 00e. but a part of this amount
comes from nonresident property own
ers, SO that the tax payments are not
likely to take much more than $4,000
900 from the local banks.
There is no way of estimating the
amount of income tax payable by
Washingtonians. although one banker
made an estimate of 100000.
Subscriptions. due this month to the
capital stock of the Richmond regional
taken or will take 100000 from the
member banks, 1 per cent of capital
and surplus.
Withdrawals by depositors leaving
cationists. etc. have been estimated at
about $500. 900. so that probably not
less than $6.50oO 900 will be lost to the
banks by June 1.
s3,1S3, 900. not s4.0O0Ooo. during
many years. will be made by the re-
deposit of tax funds by the govern
ment- Fortunately the supply of avail
and the demand from commercial
sources not very active. SO that the
withdrawals will not mean the slight
est stringency in the financial situa-
lion.
Local Securities.
A slightly easier trend was notice.
able on the Washington Stock Ex-
change today, but it was not actual
weakness A few orders to sell were
noticed and buyers reduced their bids
slightly and bonds especially were
easier.
Potomac Electric consolidated SIS
were of three-eighths Of point. sell
ing at 1908. Capital Traction and
Washington Gas as were one-quarter OF
a point lower. the former selling at
IS sold at s2ss aS2A.
A quotation lot of Bank of Washing
-on stock sold at go and one of Con-
tinental Trust as 116A.
Railway preferred quiet at SIS q ass.
Lanston Directors Reelected.
Members of the board Of directors OF
The Lanston Monotype Machine Com
pany were reelected at the annual
meeting of stockholders at Alexandria
Va, today, as follows: w. H. Goadby
? s. Bancroft, Arthur Thomson, Theo-
lore Kemp, c. B. Maben. Uher Parson
III. C. Hallenback, W. J. Father. H
,'ales, j. Maury Dove and A. H. Larkin
Officers are to be elected at meeting
% be held later in the year at Phila-
>.elphia.
Financial Notes.
Calumet and Hecla Copper Company
directors have declared dividend OF
SIS a share. payable May 8. as COM
AIRED with a dividend of IS share
Lay Is of 1914. and no dividend fol
the two preceding quarters.
New York state will be in the market
or 35,ooo,00o or 100000 as a tempo.
airy loan. in the immediate future.
Bethlehem Steel Corporations war
".ders are said to total $50, 900, 900 and
.lual the entire capital stock of the
corporation. The estimated profit for
the year 1915 has been placed at $50
.er cent on the capital stock.
The Russian government has ordered
1900 tons of steel rails from the Lack
wanna Steel Company.
This is cleanup" week in Wall
treet
No drivers under twenty-one years of
age and an annual tax Of IS for each
seat-capacity, is worrying the 'jit-
.eys" In Providence. R. 1.
A non-partisan commission in Cali
,rinia has inferred that If the 'jit-
seys" put the street railroads out of
.usiness. the public may at once pre-
are for zone fares as the aftermath
National City Bank of New York re-
iorts $181 ,29S. 900 individual deposits
and nearly s11.ooo.ooo cashiers and GER
.ihed checks outstanding. with $4,000,
20 demand certificates out.
The net operating revenue of the
ailroads of the United States for Feb
uary. 1915, in comparison with the
.rease Of 44.s per cent. only partially
overcoming the serious losses of that
month, with economies in operating
>harges. rather than increased traffic
Produced the increase
Business for the steel corporation
ives some evidence of Improvement
ne to rail orders.
American Smelling and Refining
Company has declared the regular quar-.
erly dividend of l per cent on the com
non stock and l 2 per cent on the pre-
ferred stock Preferred dividend i,
,ayabIe June l to stock of record
May IA The common dividend is pay.
sble June Is to stock of record May 81
The American Tobacco Company ha,
declared the regular quarterly dividend
II per cent on the common stock
The Pratt & Whitney Company ha.
declared the regular quarterly dividend
of ik per cent on the preferred stock
payable May Is. Books close May {
md reopen May IT.
The United Cigar Stores Company OF
America has declared the regular quar-.
terely dividend Of X per cent on the
preferred stock. payable June Is te