Evening star., 1918-02-26
Plan AGGRESSIVE ACTION
FOR THIRD BOND SALE
BY I. A. FLEMING.

In the directors room Of the First Ma
:, ;tional Bank Of Richmond some thirty OF
the leading bankers bond dealers and
brokers Of the fifth regional district met
= in a seven-hour consultation on the next
/. liberty loan: related experiences in con-
nection with the last campaign. exchanged
ideas on advertising methods. discussed
- the date Of issue. the opening and closing
of the sale, the rate of interest, etc. from
all angles and adjourned with the deter
animation to make the next liberty bond
issue a rousing success and to conduct
whirlwind campaign from start to finish
The local liberty loan committee. was
present, with the exception Of Mr.. Thorn.
and. in addition, NJ E. Allies, who was at
the conference as state committeeman.
C. j. Bell and John Poole being the other
members Of the state committee appointed
by the federal reServ bank.
1t was decided not to make pubic
any of the details Of the gathering. but
committee was named to convey to
the Secretary of the Treasury full re-
port Of the views of the men present
John Poole in commenting on the
gathering said:
Il think it was one Of the most inn
considering the questions Of future gov
eminent financing. The interchange OF
ideas was most valuable and the dis
cussion of methods and plans is sure to
nave a QlEeCC anu very IIipOTtdH pcdi-
ing on the campaign which is SO rapidly
approaching.
Norfolk & Western Earnings.
Preliminary report for the calendar
year 1917 of the Norfolk and Western
Railroad Company shows surplus aft
y er charges of siS.s46.117. decrease of
= S2.S53.937. The surplus after charges
was equal to s1496 a share on the COM
= mon stock. after allowing for dividend
= requirements for the preferred shares.
Studebaker Corporation.
It is expected that the report soon
tion will show to per cent earned on
the common stock after war taxes, this
estimate comparing with 13 per cent,
previous high estimate.
On the Stock Exchange.
Ten $1,000 bonds of the Washington
Railway and Electric Company, per
cents. sold at So on today's session of
the local stock exchange, furnishing
the only transactions.
Bid prices-On Capital Traction. 81; on
Railway common, so; on preferred.
ssh, and on Washington Gas, 56Es.
For Increased Rates.
A bill has been introduced in the
House. H r., 101s6, having for it's OBJ
ject the education of the foreign ele-
ment of the people in the advantages
of the postal savings system, with a
view of preventing hundreds of mil
lions of dollars of savings accumulated
in this country. and boarded for ex-
port. from being consigned to the safe
keeping of foreign institutions.
There is absolute safety in the postal
savings banking system. Mr.. Lobeck,
--who introduced the measure, believes
( that this object can be accomplished
by a readjustment of the rates Of in
terest paid and by the establishment of
!, a sufficient number of postal savings
banks. All post offices, he urges. should
be brought into the system under the
approval of board of trustees. Inter-
est should be paid at the rate of 8
z=per cent instead of per cent as at
e.present, said interest to be a straight
Interest on sums under 81. Interest on
postal savings deposits in depositaries
iswould. in the event of the passage of
1.-The measure, be raised from 4 to 3A.
and on postal savings bonds the rate
would be az per cent.
= Financial Bills introduced.
= The twenty financial measures rec
!. commended by the controller of the
curr ency and recently introduced in
the Senate by Senator Owen have all
been presented in the House. being
introduced by various members, and
not all by the chairman of the bank
ing and currency committee.
- st. Paul's Dividend.
drop of points in St. PauFs stock
today showed the belief of the street
: tina the common dividend. on which
the directors are expected to take
action on Thursday of this week, would
:. be passed.
- Definite rumor has it, also, that the
preferred dividend. usually 31s per cent
s semi-annually. might also be skipped.
which means a loss at once permanent,
: as the preferred dividend is not cumu-
- 1ative.
: Worlds Gold Stock.
Germany's demand for four billions
gold indemnity from Russia calls at
> tention to the fact that the desired
'"sum is nearly so per cent of the entire
= stock of gold in the world.
:. October %, 1917, Russia held in the
= State Bank of Russia s650,000. 900 gold;
2 whether it is there now or not is an
other question. Possibly there is or
was another half billion in Russian