Evening star., 1917-02-11
FINANCE AND OTHERWISE.
BY I. A. FLEMING.

BY I. A. FLEMING.
Banking interests are strongly IN
favor Of q government bond issue III
this time, as they believe the large pre-
paredness preparations and the further
fact that the United States may ne
drawn into war almost any day de-
mand that the government treasury
shall be we'll filled.
While there has been no material de-
crease in the commercial prosperity Oh
the country, the demand for money Is
entirely inadequate to employ the largo
funds available at this time. hence
bankers consider it a desirable time to
fioat loan.
AS an evidence of the comparatively
light demand and the low rates prevail
ing, II Is stated with considerable as
surance that between $300.00O,o0O ana
3a5O .000. 900 of American money have
been loaned out IN Europe. In order tnat
bankers and trust companies may take
advantage Of the high rates Of interest
going there. especially In London,
where the bulk Of the American cash
has been placed.
When the call rate on Wall street re-
Gently rose to is per cent. at least
100, ,000, 900 was brought home through
sales OF sterling eXcnanBe.
cent; call money in New York is quoted
at 2 per cent. and time money, even for
six months, Is freely offered around 4
per cent.
The supply of commercial paper in
the open market is steadily decreasing,
as bills mature and are paid off.
There is every certainty of bond is
sue in the near future; also every GER
tainty the banks and the public stand
Ia At.N Ia Nf or
by the government most successful
venture.
Bankers Dinner.
Saturday evening, February "a. is
the date Of the annual dinner of the
District Bankers Association at the
New Willard. Chairman Edmund S.
Wolfe and his associates are progress
ing with arrangements to make the af-
fair one of the most successful in the
record of association dinners.
Canada Next Borrower.
There is every probability that Cam
ada will be the next allied borrower to
seek assistance in the American money
market. The Dominion of Canada has
not borrowed In the United States since
March. 1915, nor in Canada since Sep
tember last.
Canada has three loans maturing be-
tween April and August to the aggre-
gate Of $75,000,000.
parliament at Ottawa authorizing
loan not exceeding s100.000,0O and the
chances are that this loan will be
placed in New York next month. A
home loan Is likely to be made in Can
ada in May.
Local Securities.
The only feature Of the local market
during the past week has been lower
ing trend in the prices of bonds.
This has been in partial keeping with
the action in the New York bond mar
ket. which has yielded fractionally.
Relatively higher prices prevail for
high grade bond issues here than in
cessions would make for more activity.
The most serious recession has been
in Railway Is, which are at the low
point Of the year. SON, or over 2 points
off from the high record.
There have been no additions to the
stock list since the local exchange
moved into its present quarters. and
efforts to increase the business have
not been successful.
OF late there has been little better
probably be midsummer before the va
rious valuations have been completed.
despite a disposition on the part of
some OF the corporations to assist in
every way possible and the adjustment
of rates. II undertaken, will require
additional months, so that there is lit
tie prospect for much Improvement in
stock exchange activities:
The typesetters. erktwhile vehicles of
considerable activity, have apparently
lost favor with local investors. at least
as far as increasing their holdings is
concerned.
Financial Advertisers Association.
The matter Of profitable bank ad-
vertising has received considerable at
tention during the last year. largely in
publicity work for the thrift campaign
and furthering the interest of banks
generally. Some of the best results
from careful. persistent and conserva-
tive advertising by banks in this city
have been plainly evidenced by con-
stantly increasing deposits.
There is in existence u financial ad-
vertisers association, not an especially
rate that insures more prominent
recognition in the near future. sixty
two members having been added to the
list last year. so that the membership
now totals 205 members.
The association IL affiliated with the
Advertisers Association OF the World,
and avery member receives free the
monthly issue of Associated Advertis-
ing. containing invaluable literature on
the art OF successful publicity.
A convention is to be held in the
city OF st. Louis in June. where bank