Evening star., 1918-02-15
MORE lRNABHInN
CERTIFICATES ISSUED
BY I. A: FLEMING.

The Secretary of the Treasury an
nounces another issue of Treasury GER
tfhcates of indefinite amount to bear
date of February Is, and mature June
Is. Certificates are not engraved as
yet, but the reserve banks have been
authorized to make sales and issue in
terim receipts therefor.
The certificates will bear 4 per cent
and are receivable for income, excess
proflts and other war taxes. The an
nouncement of the issue carries with
IL the statements that the certificates
are ito save purchasers the payment
of interest accruing on tax certificates
Of January -
In all $500. 100000 of the certificates
of issue January have been sold, max
ing the amount of certificates maturing
June Is, 1.1S0. 900, 900, practically a dis
count of the same amount of income
taxes.
ury certificates of comparatively recent
date, issued in preparation for the third
liberty loan, have been sold, but the
completion of the sale in full is looked
for by the close of business today,
when the subscription books will close.
These certificates, all issues, supply
the sinews for the conduct of the war
helps the postponment of the third lib
conditions improve. but they only de-
lay the loan, which must be floated in
the not distant future.
Bankers are daily discussing the loan
from all angles and with especial ref
erence to the present condition of the
market for government securities The
general stock market is in much bet
ter condition than the bond market
either for miscellaneous bonds or for
government issues.
Gold Imports for 1917.
Gold imports for the year 1917 showed
q total of s181, $40. 900 as compared with
S529. $50, 900 in 1916.
The gain in the stock of gold in the
United States since August 1. 1914. in
the stock of gold in the country was
$1,050, ,7S5, 900.
Growing Stronger.
Since the close of 1917 the federal re-
serve banks have added $780, 900 900 to
their reserves. of which amount s80, 900
600 was in gold.
Not at All Unanimous.
The resolution which bankers will
discuss at the meeting of their associa-
tion on Monday night provides that no
checking accounts shall be opened for
less than $50, and that checking ac-
counts where an average balance of
less than 500 is maintained shall bear
q charge of Is cents per month for ex-
penseS
The report, which is made by com
mittee consisting of II. H Mckee, S. J.
Henry and B. A Bowles, cites the in
creased burden of labor on clerical
force, the higher scale of wages. the
dfmculty in obtaining clerical help, and
makes plain statement of the fact that
such accounts as referred to cannot
be of profit to the banks.
The report recognizes condition
prevalent in Washington, in that many
whose deposits are below the minimum.
control, through others, deposits that
surpass the minimum by large amounts.
The committee also recognizes the
fact that local conditions are against
the adoption and enforcement of such
q resolution. Savings banks and trust
companies pay interest on all accounts
and, in a measure, all accounts are
checking accounts. A dollar opens an
account-even less in some institutions.
1t is also fact that Washington de-
positors use banks as a convenience
in the matter of paying monthly bills,
but it is also a fact that banks are
reasonably prosperous, and that very
many heads of leading institutions will
refuse to make any change.
A61 and W. Steamboat Co. Election
At the annual meeting of the stock
holders of the Norfolk and Washington
Steamboat Company, held yesterday,
the following were elected directors
for the coming year: Milton E. Allies,
Charles J. Bell. D. ]. Callahan, Daniel
Fraser. Clarence F. Norment. George
W. Pearson, Odel1 S. Smith, Hylas T.
Wheeler and Levi Woodbury..
At subsequent meeting of the di-
rectors the following officers were
siected: President Levi Woodbury.:
6f1t vice president, Clarence F. Nor
ment; second vice president and gen.
eral manager, D. ]. Callahan: secretary
and treasurer, OdelI S. Smith.
The general manager retains in their
present official positions General Traf-
hc Manager William H. Callahan, Au-
ditor J. Allen Riordon. General Agent
ginerr z. 3. Cole
m. ho Tnea1 0<ool~