Evening star., 1919-04-05
B0NDPAY|NGP[AN
may HAVE REVISION
Committee Named by Local
Council of Bankers
Association.
REPORTS NEXT THURSDAY
BY I. A. FLEMING.

BY I. A. FLEMING.
The council of administration of tn
District Bankers Association me
yesterday afternoon and appointed
committee headed by Joshua Evans
jr., of the Riggs National Bank. t
consider the possible revision of in
struments to he used in connection
with the sale of victory bonds on tn
installment plan. The committee il
expected to report to meeting o
the organization next Thursda.
evening.
1t would seem as If this committe,
was too heavily handicapped to actu
ally make a report at the proposed
time. So far there has been no Off
cial statement as to whether there
will he more than one kind OF victor.
bonds. while there have been rumor:
of considerably more than one issue
Public Has Learned System.
The public has been educated
through five issues of liberty bonds
to the ten-installment payment plan
has become familiar with the cards
used and with the punch system of in
dicating payment; has even learned
chases. so that some of the leading
bankers do not think it would be
wise to make any change.
However If there are more than one
kind of victory bonds, it may be nee
essary to adopt a new selling form.
The latest comes from New York
city this morning, as follows:
1T is difficult to find two bankers
who agree on all points of the loan
E,Sfim.a "a the Of n
range from y. to 5 per cent on taxa
BILE issues, and 31z to 4 per cent on
the tax-free notes.
Some months ago it was believed
that the Secretary Of the Treasury
might offer all four classes of notes
thereby reaching all classes of in
vestors. However, it is now believed
that this plan has been abandoned
and that the offering will be confined
to two note issues. one taxable and
the other free.
while there are some who believe
tie tax-free note SHOULD be per cent
and the taxable not over 5 per cent,
it is believed that the rate is more
than the Secretary will permit. One
prominent banker stands for 81 and 4A
per cent rates.
Full Speed Ahead!
The General Motors Company has
SOUNDED llS tOCSlns announcing Iull
confidence in the future and setting at
naught the predictions of the cautious
1888. .o6e.
OF this large amount Detroit will
get $12.s5e0oe: Flint. $2.150.Oo0.
600: GAINESVILLE, Wis. $4.50O.O 900. and
the balance will be scattered at Bris-
tol, Toledo and Muncie. Ind.
In the Detroit expenditure is in
cluded the cost of a fifteen-story
office. a new Cadillac plant and a re-
Everybody is waiting to see what
the other fellow. il going to do" said
W. c. Durant, president Of the General
Motors Company. "and this is what
we are going to do. The investment
of these large amounts again en-
phasizes and confirms our Judgment
of the underlying stability of the
country and the soundness of the au-
tomobile Industry
"Inadmissible Assets"
Under q ruling of the internal reve-
nue bureau today bonds Of the War
Finance Cooperation. the principal of
"inadmiseible assets" Inadmissible
assets rs term used in the revenue
act of 1918 to indicate certain assets
Of corporation which may not be
included in calculating its invested
capital Bonds Of the War Finance
Corporation. the principal Of which
exceeds $4,000. the bureau also held,
are admissible assets.
The War Finance Corporation has
Just sold more than $200, 100000
bonds, and many Inquiries have been
received as to whether these bonds
are admissible or inadmissible ass
war Finance C.ornorat;on honds
are issued under the authority of the
act Of April 5. 1915, which provides
that the interest on the amount Of
such bonds. the principal Of which
does not exceed 5000. shall be ex-
empt from normal taxes. surtaxes,
excess profits and war profits taxes,
and that the interest received by a
taxpayer. Independent of the amount
OF his holdings. Is exempt from nor
NAL federal tax.
Annual Meeting Held.
The annual meeting of the share
holders Of the Liberty Savings Bank
ut IL o'clock, for the purpose of elect
ing trustees and transacting such
other business as may come before
the meeting.
Local Securities.
While there was no special action
on today's session of the local ex-
change. trading was interesting, with
q slightly easier trend in values, not
unexpected, in view of prevailing con-
ditions with utilities the country over
Washington Gas stock sold at 52N,
and then q twenty-dve-share lot
brought 52h Capital Traction sold at
S. A little Lanston changed hands
at s5h. while Aergenthaler was nrm-
er at 157.
Graphophone common sold at 237.
In the bond section Railway is sold
at 20 and Washington Gas IS at 81.
Metropolitan Bank Dividend.
The usual per cent semi-annual
dividend of the National Metropolitan
Bank has been declared by the di-
Iectors. payable April Is, books clos
Ing April to Is, inclusive.
The Weeks Record.
During the past week, six sessions,
the total sales on the Washington
Stock Exchange were $17,l00 bonds.
lace value, and 389 shares Of stock.
DAIRY AND PRODUCE.
Avail n,xx>.