Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-20
TREASURY OFFERS
MORE CERTIFICATES
Anticipates BeIated Install
ments of Income Tax and
Note Payments.
LOCAL MONEY MOVEMENT
LOCAL MONEY MOVEMENT
By I. A. FLEMING.

. !. "A. FLEMING.
Two issues of Treasury certificates
are announced bearing even date as
to issue and maturity. known as Sc
ries TT and series ia. dated June 3,
1919. and maturing September Is. 1919.
bearing interest at the rate Of Al per-
cent and issued in anticipation of be-
lated tax and victory loan note pay
ments.
No fixed amount has been decided
upon. but the certificates will be Of
fered to the banks in denominations
100000. and a moderate amount will
be disposed of to tide the Treasury
over the installment periods on which
belated payments must be made.
The second issue of Treasury GER
tiflcates issued in anticipation OF the
victory liberty loan natures today.
The total amount OF this issue sold
was s57e.494.
These certificates will be very largely
turned in today on the first installment
payment Of victory liberty loan notes.
which will call for from $500. 900. 900 to
$500. .ooo according to the amount Of
the sales. which are variously estimated
at s.. 900. 900. 900 to So. 0o0. 900. 900.
Full reports of all transactions In vic
tory liberty notes have been received by
the regional federal reserve banks. and
the total subscriptions should be made
public today, with the allotment a mat
ter Of a day or two later
Local Money Movement.
The first payment of victory loan
purchase money has taken $2.S04.150
from Washington banks. plus any
cash purchases. while the redeposit
of tax money scheduled by the Treas
ury Department for today will reim-
burse the banks to the extent OF ST.
100000. In all $4.ooo.ooo Of this tax
money will he redeposited with thep
banks in four installments.
Watching Congress.
Wall street is keeping close tab on
eagerly for the text of the Presidents
message. In the meantime there were
some price recessions, but only q mod
est showdown in the active trading
that has marked the last two months
market.
money market in payment Of the vic
tory liberty loan first installment. tax
money. income taxes and the over
strained condition Of brokers' loans
haveaIl made for a little more conser-
vatism in trading. a fact that 10 well
Soheo ny oioheio anu Soh"issioh
houses.
America the Hope Of the World.
Frank A. vanderlip. president Of the
National City Bank Of New York. and
chairman of the board of directors OF
the National City Company. returned
yesterday from a prolonged European
trip during which economic conditions
were very closely studied.
VANDERBILT said: America 10 the hope
OF the world today. If America rises
to her duty I am very optimistic over
the outlook. Europe must be looked
to as a unit; not as SO many indi-
are helped others will be left strand
ed. We must pull together in recon
struction as we did in military work.
It Is not only the bankers who must
concern themselves over reconstrue-
ness men a. we'll. and must appreciate
tho necessities of the situation and
extend a helping hand to the war
ridden countries"
Personal Mention.
c. ]. Bell. president of the Ameri.-
can Security & Trust Co.. returned
where he has been in attendance on
the sessions of the executive council
of the American Bankers Associa-
ton, which began yesterday and Will
end tomorrow evening. Business en-
gegements shortened Mr.. Bells at
tendance, but H. H. Mckee. president
of the National Capital Bank. is look
ing after Washington's interests at
the gathering.
The Investment Bankers Associa-
ton will also hold its annual meeting
this year at ST. Louis. This was de-
cfded at q recent meeting of the
board Of governors at White Sulphur
Springs.
tober.
On the Local Exchange.
Business on the local stock ex-
change today was very active, large
stock transactions being repDrtsd-
ton Railway preferred and Lanston,
were ex-dividend, the former selling
freely at so cash and ssh to 6SN. ex-
and the latter moving slow
ly at 81.
was decidedly active. 100 shares SELL
ing at s7h.
Capital Traction was in good de-
mand and sold rather freely at SO.
Gas. steady but slow.
BOlu At
90, the first IS at 95i1 and Washing
ton Gas Is at s6h.
New Stock Issued Tomorrow.
The recently authorised preferred
shares Of the Columbia Graphophone
are to be issued tomorrow. The per
cent bonds OF the American GRAPHIC
phone Company will be accepted At
par and interest accrued. in payment
Of subscriptions. pending the oficial
OF the calling of the
bonds for redemption.
Message Cheers Market.
The Presidents message was we'll
received by the street, ana resulted
in advances in some Of the stocks.
Strange to say the best gain was made
on American Mailing, which advanced
8 points and Industrial Alcohol kept
on its advancing trend for another .
points net gain.
Speaker Gillett to Be Banquet Host
Speaker Gillett will give a banquet
tonight at the Willard to all mem