Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-04-19
WASHINGTON SURE TO
PURCHASE MANY BONDS
Bankers Will Participate Literally,
and They Report Inquiries
and Numerous Orders.
Prices Very Weak on the Local Stock
Exchange-George Howard Heads
the Dupont National.
BY I. A. FLEMING.


and the people generally indicate not
only Willingness, but an urgent de-
sire to do their full share toward MAX
ing the war loan a success.
Although it may and probably will be
weeks before the bonds are ready Tor
the market, hundreds OF orders are be-
ing placed every day with bankers. oo.h
by men and women. many OF the rat
ter showing needless uneasiness ana
doubt as to their ability to secure al
lotment.
Then. too, the banks and trust com
panies will buy bonds for their own
use. averaging $4,000 to 100000 each.
and some of the larger institutions VIII
probably take larger allotment. me
indications are that several million DOL
lars worth of the new war securities
will be sold in the District. There are
many millions of excess reserve In the
fiscal institutions, and investors gen
orally have apparently been saving Tor
this offering, which has practically peeh
expected for many months
The Secretary of the Treasury has re-
ceived a large number or suoscIiptions
direct when issued. although 1t Is eX-
pected that the greater part or the saie
will be made through the banks ana
trust companies of the country. Among
other subscriptions received oy me
Secretary of the Treasury was one for
100000 worth of 80 per cent bonds.
ON terms to be fixed by the govern
mept" from The Evening Star News
paper Company.
from pure patriotism; others viii be
made as a good investment and safe
employment for surplus funds; whlle
there also will be large contingent
that will appreciate the tax-free fea-
lures of the issue, as the bonds will be
entirely free of the Intangible property
or other taxes. save the inheritance tax
in the states-and in the District.
1axx no mt on no f
ute books.
If the spirit that pervades the Dis
trict is manifested all over the nation.
the big bond issue will be oyersub-
scribed.
George Howard Heads Bank.
George Howard. for many years treas
urer of the National Savings and Trust
Company, has been elected president of
the Dupont National Bank. control Of
which was recently acquired by W. b.
Hibbs and Mr.. Howard has accepted the
office, resigning from his other banking
connection. The new bank president
is well known in business and social
circles, and Is expected to popularize
the Dupont National with the residents
of that section. Mr.. Howard still re-
tains his place on the directory OF Ma
tional Savings and Trust Company. The
latter corporation will not elect sue
cessor to Mr.. Howard until some time
next month.
On the Stock Exchange.
The feature of today's session of the
Washington Stock Exchange was the
positive weakness in bonds, coupled
with the utter neglect of stocks. Odd
lots of Capital Traction SIS sold at
1o3a, while full sized bonds were Of
fered at the same figure. with the Off
ciaI bid u. Railway As made a new
low on small bonds at 1871. with later
sale also of a small bond, at 70.
Potomac consolidated 5s showed re-
cession to ssss and $50. The first mort
gage IS of the same corporation sold at
a new low price at 103A. The bid
prices on all bonds on the list selling
above par was materially reduced and
many under par bonds were also weak.
The utility stocks were entirely
neglected at .9s bid and son asked
asked for Railway common. rs bid and
so asked for Railway preferred and
71is bid for Washington Gas
The typesetters were soft.
Chapin-Sacks sold to the extent of
thirty shares in three ten-share lots
at 1872, ISL and $50.
The first sale of Columbia National
Bank stock in many months was re-
ported. ten shares at 227.
Condition OF the Treasury.
Condition of the United States Treas
ury at close yesterday showed:
Net balance in general fund, $751;
169,454.
Total receipts. $4.496,9Ss.
Total payments, s3.744.057.
The deficit this fiscal year is $780,
544.3S5. against a deficit of s5.,069.SS2
last year. exclusive of Panama canal