Evening star., 1918-08-05
TO START WORK ON
FOURTH LIBERTY LOAN

This evening the District of Column
bia liberty loan committee will hold
an important meeting. the first in
preparation for the hard work con-
nected with the fourth liberty loan.
THE shorter the campaign the more
the need Of preliminary work" is the
theory of Eugene E. Thompson. sec
retary of the local committee and also
in charge of the speakers in the cam
paign.
On Wednesday afternoon at
o'clock the District Bankers Asso-
citation will meet at the Gridiron room
in the New willard, to take action on
some very important subjects IN con-
nection with the installment-payment
system and other features of the cam
paign.
Experiences in the first three loans
has been of great value to the banks.
and they will eliminate the evils of
previous campaigns in the conduct of
the next.
Official announcement is made by
the federal reserve bank of Rich
mond that apportionment of fourth
liberty loan bonds among the banks
of the country will be based on their
total resources as of December 81,
1917, this being the last available date
with returns from All patihS III lHe
United States.
Some of the local banks were very
high on deposits at that date, while
others were lower than on the March
returns.
From now on the campaign will be
getting warmer until the final action
is undertaken.
This is the question that is inter-
esting not only the senior officers OF
local banking institutions. but the
junior officials and. in fact, the whole
rank and file.
Evidently not" said NJ. L. Allies.
"if one is to judge from the manner
in which our clerks and tellers have
been taken away for the service, but
we are expected to handle the various
liberty loans as they come along. with
the greater percentage of purchases
on the installment plan, with more
or less detail work connected there
with
r. N. Harper expressed the opinion
that banking in all its phases is es-
sential and the government has today
more use for the banks of the coun-
try than ever before. We cannot
handle the immense amount OF detail
connected with the liberty loans dur
ing the campaign. and in the ten
months during which the monthly
payments are being made. together
with caring for essential business ana
the heavy demands that are made
upon the banks by the soldiers OF the
nation, unless we are held to be es-
sential and are allowed to retain our
skilled employees.
We have made no effort to prevent
the draft of those of our clerks VINO
are of draft age. but have by much
night work on the part of seniors and
breaking in other clerks managed TO
keep the records and handle the great
volume of business. But if the dratt
age is raised to those OF thirty-two 10
forty-siX years of age. as suggested,
it will be absolutely necessary to the
conduct of the banking business that
consideration be given to the question
of essential industry, and that risnt
quickly. Such action as that wouid
leave few besides senior officials TO
operate the banks"
On the Local Stock Market.
Capital Traction shares furnished
the bulk of the business transacted
on today's session of the local ex-
change mir etyfive shares changing
hands, in lots, at So Small lots OF
railway preferred brought 6sH ana
6sa..
Other public utility shares were neg
lected. The proposed big public utii-
Ry financing corporation wnich was
under consideration by New YORK ana
Chicago bankers has been aoanooneo
foe the reason that the War Finance
corporation would not accord the
financial assistance that promoters
considered they would be entitled 70
American National Bank shares SOLO
at 14S and Continental Trust COM
pany at 1l6 one sale OF each
MereenthaIer. l13A. A small lot Of
Norfolk & Washington, Steamboat
shares brought 1864.
Potomac Electric debenture IS sold
steadily at 80.
pond nfferino