Evening star., 1918-07-15
CAPITAL TRACTION
CONTINUES ACTIVE

On the Washington Stock Exchange
today Capital Traction stock ngureo
prominently. In the closing period Oh
the trading it grew strong and num-
,ber of sales were made at 81. Wash
ington Railway As were active ana
brought as high as SSH. For eAe
greater part the day was inactive ana
the attendance of brokers was slim.
Government Finances Dominate.
More than ever the governments
financing operations dominate the
money market. according to the opin-
ions expressed today by SONS of
washington's prominent hnancial
men. They say that Withdrawals fol-
low Withdrawals SO quickly ana on
such a large scale, and Treasury GER
tificates come around so quickly, tnat
all normal banking CONVERSATIONS
have been pushed aside
Washington Loan and Trust Com
pany declared it's regular quarterly
dividend of per cent. payable August
1. Books close July "a.
Bankers Delegation on Way Here.
A delegation of New York and Bos-
ton bankers, together with O. NUMBER
OF prominent NEW WYNN
manufacturers, will arrive in Wash
inston tomorrow to attend a meeting
Wednesday, at which the financing or
a chain of cotton warehouses Will De
discussed among other things:
These men will consider the plan
advanced by the National Association
of Cotton Manufacturers for chain
of cotton warehouses to be n2anceu
in part by the government, as a SUD-
stitute for the southern bankers sug.
hot he 0nvarnmant huv all
cotton for which no purchasers can
be found. The northern bankers ana
manufacturers believe chain OF
warehouses would be far less ex-
end sought by the southern interests.
Reserve Banks Big Earnings.
Remarkable earnings Of the federal
reserve banks are shown by the re-
ports from the Federal Reserve Board.
These reports show earnings averag-
ing, after payment OF per cent alvi-
dends. so per cent on the pa1d-in capl-
tai at the close of the present calen-
dar year.
Every one of the federal reserve
banks declared dividends to cover
periods up to June 80 of the present
year, so that none Is now In arrears
with it's dividend payments.
Liberty Bond Information.
The federal reserve bank of Rich
mond. in which district Washington
is located. today issued the following
information for banks and trust conn
panies and holders in this district OF
81. and 4 per cent bonds OF the nrst
and second liberty loans:
"In presenting az and per cent
bonds of the first liberty loan and
per cent bonds of the second liberty
loan to this bank for conversion into
Az per cent bonds much time can be
saved and accuracy and promptness
insured by compliance with the fol-
lowing suggestions:
.'First-Send to us with the bonds
the required request for conversion
made out on one of the forms pro-
vided by this bank Copies OF these
forms have been sent to you. Addi-
tional copies will be furnished upon
request.
''second-Do not list bonds Of the
first liberty loan and bonds OF the
second liberty loan upon the same
form. The form Is designed for
either kind of bonds but is not In
(first loan and second loan) at once.
See instructions printed on the form.
''Third-Four per cent bonds of the
first liberty loan and per cent bonds
of the second liberty loan may be
converted ,an, into per ;nts1as, cent Doads ad
justment of interest. however. IL re-
quired when 81 per cent bonds OF the
first liberty loan are converted into 4A
per cent bonds. Unless a remittnce
is made covering the adjustment of
interest to the day of receipt by us.
we are not authorized to deliver the
corresponding Az per cent bonds. When
interest is omitted a notice Is stamped
by us upon the return receipt, show
ing the exact amount required. Re-
mittance of this exact amount should
be made promptly.
President Savage on Vacation.
Francis NJ. Savage. president OF the
Northwest Savings Bank, has gone to
Lake Mohonk for the remainder OF