Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-05-01
SIX MILLIONS TAXES TO
Be PAID IN THIS MONTH
BY I. A. FLEMING.

During the current month the people
Of the District will pay to the tax
collector something like 100000 in
taxes plus the intangible tax. an un-
certain amount. as this will be the
first time 1t has been imposed on
washinston's population. Bankers will
offer no estimates as to the amount.
In order to relieve the stress in the
money market that such large with
drawaIs might produce. it has been the
habit of the Treasury Department to
redeposit about 100000 annually
with the banks to be repaid in monthly
fnstallments No fixed sum is redeposit-
ed, but the amount varies little from
the estimate. This money is returned
to the Treasury in installments. 20 per
cent in July and August and thereafter
10 per cent a month until the obliga-
ton is 1iquidated.
1t is safe to predict steady flow of
money into the collectors office every
business day this month.
Bankers have made inquiries as to
the banks, and have been informed
that the cash will probably be forth
coming, but no definite promise has
been made.
of Washington have given to the three
liberty loans. with their urgent, self
sacrificing efforts in behalf of the
loans. and in the disposition of war
there should be. and probably will be,
no question whatever of the usual as
sistance being again extended.
1t is fortunate that but 20 per cent OF
the payments on liberty bonds of the
third issue are due during the current
month. To relieve the pressure on the
money market from tax payments. no
payments on bonds have to be made to
10 r m
The banks have all made heavy cash
sales of bonds, and some OF them will
probably retain the money, paying AZ
per cent interest therefor until dates
Of payments.
War Savings Stamps.
Sales of war savings and thrift stamps
have reached a total of s1S5.000.O00. May
sales are expected to add S55,OOO.0O0
to the total The total issue provided
redemption fund. the amount of actual
issue being less than this, becoming
larger as the interest earnings de-
crease. The original provision, if all
allowed for more than s1.6S0,00o total.
Regular Steel Dividends.
The declaration of the regular Ia
per cent dividend on Steel preferred
was made yesterday afternoon. also the
regular l Y and 8 per cent extra on the
common stock. For the first quarter
of the year the earnings of the cor
poration showed s56,961.coO. nearly
100000 less than for the fourth quar-.
ter of 1917. Comment is made on the
fact that the war taxes for the first
quarter of the year were only $685.
900 for the quarter, against S60,950,000
fer the last quarter of 1917.
On the Stock Exchange.
Norfolk and Washington Steamboat
stock was quite active on today's ses-
sion Of the local exchange. A number
of quotation lots sold at 1856 and then
one lot at 155 LIS, with none offered
at the close except at considerably
higher prices
A few shares of Mergenthaler at ia.
Lanston at so, Washington Gas at SO
and Capital Traction at ssh completed
the list, the total of these trausac-
tions being unimportant-
In the bond section Potomac Electric
6s sold at par.
There is such limited demand for
many high-grade issues of bonds
that brokers without orders re-
duce their bid prices in the hope of
accommodating few cheap bonds-the
market being entirely too narrow to
maintain values.