Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-10-27

:
eentsale- at 1914 to 164h. Lanston
Moaotype shares brought 7sA to Is.
UtIuty stocks were scarcely mem
tioned. AS rule. they were onered
at recent bid prices, indicating an
easier trend.
The only bond transactions were In
Railway. IS at SIN and Capital Trac-
ton So at LOG.
To Make Final Payment.
November 16 members Of the federal
reserve banking system will have to
deposit witt, the regional bank OF their
district an additional one-ffth of their
required reserves. During the opera
ton of the law the reserves carried by
banks have been gradually increased
until the full requirement will be
reached November JIG, namely, 6-15 OF
the necessary reserve. The banks VIII
then be permitted to carry 3-l6 with
reserve AGENTS and 6-1o OF their re-
After November 1S. 1917. deposits
carried with reserve agents will no
longer count as part of reserves, and
It will be necessary to carry the re-
and with the regional bank Of the dis
trict. But 6-1S must be carried with
the latter, while the banks may carry
ell their reserve there II they desire.
II. the case of country banks. re-
se-ve is figured on per cent basis,
aad Lie additional payment With No
v.E.sef IL. will be one-twelfth of the
req aired reserve.
The shifting of reserves VIII mean a
tSassfer Of about sec. 00O. 900 from
banks to federal reserve regional In
situations, and .ianks that haye been
receiving per cant interest on this
large sum will lose 1t, a. the regional
banks of the federal reserve system
pay no interest on reserves carried
with them.
Collateral Back Of New Loan.
Collateral back of the new British
loan of &a0o. 600. 900 includes securities
gathered from all over the world. ex-
cept the central powers and Mexico.
The frst group includes Canadian
Pacific stocks and, bonds. obligations
OF the Dominion of Canada, colony of
Newfoundland or Canadian munich
palities Of value Of. not less than
S18e.OO0. 900. and a block of United
States corporatfons' securities. In the
eec0nd group are bonds and other obli-
cations OF the following governments:
Zealand. Args ntina. Chile. Cuba, ia
pan, Egypt and In jfa to the aporOxi-
mate vaIue of $25 200 000 and also. O00.-
900 a8eregate values In divtdeno-pay-
ing British ,railN ay companies.
The nex loan Win be In the form OF
tnree-year 8 per cent. bonds and ave-
year ~ per cent bonds, at 88A Tor
sho-e ard os1s for long maturities.
g5--ssaern Railway Mortgage.
.s--..le.n. railways new refundins
lay. o7c:aent mortgage will secure
s,s ". .e OF gold bonds, limited to $780,
ecg. zee. TO be issued from time to time
ii .s.tersd series maturing not later
than october 1. 1899, with such interest
as may be fixed by the board Of direc-
tors for each series, as issued.
TIE first or series "A" viii censist Of
ssi,;ss. 900 ~: per cent bonds. under
this mortgage. to refund like amount
Of Development and general mortgage
AZ -,- outstanding. Series e. will
c.-..,.3 % sa1.s5s.ooo and win go into
r3.' go. OF Tire company in eA-
=. - =. ,.ss.lvo development AID
;.-,e.. =. oet ,;-g; bonds now hole ~
.aos.sa * viii be subject TO ap-
:. Ike ahavenolders' taertils
c-:: ea :S- january 8. 1871 Moreover II
-. .,esh Looked upon as certainty a. ~
iasscias rnatufing obligations and fu-
tire leeds without new and broader
2lto.t term notes to the amount to-, Of
r.. present mortgage Issue Is owned
ID over 1900 persons.
zh'ra Week Of October Showing.
r-.aa-..za oS the Southern Railway
g. :, - -. the tnird week In October
Il. -, ;. gross o.: 1a.c2 pc cent
. - so- IT, .eA...q::dirg
! ..t. -.
~. - to october Il, inclusive
4-..-s .:...ssi--sa were $2S.zla.se2. an
4 as compared with the gross
O. ~ s-e..rie period IN 1915 OF s2,soa,S52
OF ...@s per cent
arlington Chapter Activities.
n. .J.,-Lauek. former professor Of
ees..o,..cs OF the Washington and Lee
University and railway statistician fos
.:o,t..-s Magasine, addressed the WASH
IT, rfo. Chapter Of the American Insti-
,c;e Of Banking last night on Bank
s.sEs.nea.s and Banking Functions"
=. e ,5eaker furnished each student
,,..:. :. aetailsd outline of the lecture
:s.1-,. Is to lecture again At
:. :: acxt Thursday evening at the
:. -. ...s.ce. taking as his subject
"a Adn-.n .etration."
- WIS u -ecord-breaking attend.
= Z: 81 sight. and President r. L
-sr announced that the member
= -. t.I3 chapter had increased to 42C
49,
..as.=s.aduate course is to begin a:
= ..rS. Monday night. under the direc.
& :: Frank Addison. The Spanish
TO ro.et NJ O'Clock. Tuesday
aooii. under the direction Of jose
c. ..E;.r. 49,,
Condition Of the Treasury.
on6:ti Of the United States Treas.
u.v yesterday:
:. ealance In. general fund. s153.s1s.
Ss4.
Total receipts. $2.Sss.71e.
T1.ai payments. s2.242.2i6.
sac aefcit this fiscal year is S1S.3S5.
f.s, against a deficit Of $3e,2!9.4I3 las
ysa- exclusive OF Panama canal ant
p3S.ic debt transactions.
Sugar Market Il Steady.
NEW YoRK. October 27.-Raw susa,
firm: centrifugal, $50: molasses, SIT
-@sned : nrm: fine graduated. 7.60s
Sugar futures steady and moderated,
active. and 1T noon prices were abou
Unchanged from yesterdays closing.