Evening star., 1918-06-06
BIC JUNE FINANCING
., WILL Be EASY MATTER
By I. A. FLEMING.

Juno IS. Treasury certificates to the
kmount Of s543.032.50o will mature.
These certificates were issued In an
eicipation of the third liberty loan,
Ind were put out as part OF the plan
30 delay the third issue as much as
possible. No payments on account or
fhe third loan are scheduled for June
as.
Ono week later s1,544.G5o, 500 Treas
Nry certificates issued in anticipation
bf income taxes will mature, but the
Greater part of these will be turned in
by corporations. companies and 1ndi-
Siduals in settlement of income taxes
on June Is.
While the bulk of these certificates
will be thus cared for. many mill
lions will unquestionably be present.
ed for payment on maturity. June
R5, as many investors in search Tor
bhort-term maturities were attracted
by the opportunity for placing their
bash to good advantage in govern
tnent securities.
Estimate of tax payments on ac-
count of the income tax vary from
S3 ,0O0, 100000 as a minimum to 3d.
800 100000 as maximum.
: = Experts figure that the Treasury
Department can just about meet all
callS for the month of June. clear up
1ts outstanding certificates and close
The month with a balance of $1,000
DOC, 900 to 81, 800 900 900, according to
Che income tax returns equallinS or
Exceeding the three-billion mark.
Tomorrow banks holding third lib
krty loan funds will have to repay
20 per cent to the Treasury. making
Sis per cent of the deposits held by
banks up to the May 2S payment.
1t is not expected that repositories
kvill be permitted to hold income tax
payments for any considerable length
bf time, a call for payments during
n ay-ly In I'M
being within the probabilities.
With these heavy financial opera
lions going on. with the crop move
ment setting in and the call for cash
prtsing If there should be a furry
In the market. but bankers are conf
fent that nothing more than a tenn
porary stringency Is probable. while
this may be avoided by arranging for
credits at this time.
Bank Director Elected.
Frederick De c. Faust was elected a
director of the National Metropolitan
Bank at a meeting of the board of di-
fectors Of that institution yesterday aft
ernoon.
Proposed Banking Amendments.
The score of proposed amendments
10 the federal reserve law which Were
1 introduced in the Senate by Senator
/ Owen have so far not received very
gentle consideration from the law
makers, much unfavorab1e comment
having been made on measures for
making officials responsible for over
drafts on which there were losses
end on the suggestion that erasures
!. ehould be eliminated in the records
and all errors permitted to show on
books as originally made.
Some bankers are in favor of the
provision to permit national banks to
Establish branches in their home
sDities, thus allowing them to come
In competition with savings banks
right.
The proposed amendment for the
guarantee of bank deposits under
$4,000 has not been up for action s
yet, but some pertinent remarks have
tbeen made thereon.
John Shelton Williams, controller of
the currency. has asked for an ex-
preston of opinion from the bank
ing fraternity on this subject. High
grade banks are opposed to any
proposition to make them stand good
TOR any part of the losses of poorly
managed banks.
! Local Stock Market.
A sale of Potomac Electric deben-
kure IS was reported on today's ses-
sion Of the local exchange at S91s. Il
Stock transactions were restricted
TO a few lots. 45 shares in all. at
t0Sh for Mergenthaler, 81 for Wash
tngton Gas and S43s for Capital Trac-
ffnn shares