Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-27

ST, 500 900 Short Term Gold
Bonds on Market at SO IL.
Will Hold Convention.
4 "a PER CENTS 1890
BY I. A. FLEMING.

The National City Company and
Harris. Forbes & Co. have purchased
$1,5O0,OO of Potomac Electric general
mortgage 6 per cent five-year gold
bonds, and are offering them to the
public at 9S1a. 1t is understood that
the margin of profit to the syndicate
is very small
| According to circular issued by
Crane. Paris & Co., who participate in
the syndicate, locally, the bonds are
redeemable in whole or part on eight
weeks published notice at 101, and
are issued in 500. $500 and $1,000 de-
nominations. The company will pay
2 per cent of the normal income tax.
| The company operates without COM
petition, and it's corporate powers, in
the opinion of counsel, are perpetual
| Based on the estimates of the Pub
| lie Utilities Commission the valuation
| of the company is $14,8S5,000 and the
| funded debt S10,957,000. The bonds
are authorized for improvements and
extensions in force.
| 1t is the sense of the executive COM
mittee of the District Bankers Asso-
citation that the state" convention of
local bankers should be held in June,
on the dates previously agreed to.
Deer Park has apparently the cali
| for location.
delightful resort, without the
amusements of or attractions of Old
Point or Atlantic City to divert at
tention.
Announcement of selection will
probably be made today or tomorrow
at the latest.
Security Savings Record.
The Security Savings and CONNER
cial Bank is justly proud of it's record
in the five liberty loan campaigns.
when with a total allotment of but
;s49, 900 it went over on every loan
for a total of $2.026,100, with sub
scriptions from 19,494 subscribers.
The record for each loan was as fol-
lows
First loan-Allotment, $4,000; sub
scriptions from 1,738 subscribers for
Second loan-Allotment, s123.soo;
subscriptions from 2.645 subscribers
for $257,10O.
Third loan-Allotment. 1880. sub
scriptions from ALI subscribers for
Fourth loan - Allotment, 1884, TOO:
subscriptions from 6,234 subscribers
for $603,600
Fifth loan Allotment, $a19soo;
subseript aoa from 1850 subscribers
The increasing ratio of allotment
also evidenced the growing resources
| of the institution
George r. Linkens. vice president of
the Security Savings and Commercial
| Bank, voices the general opinion of
bankers in the city, that the percent
age of cash subscribers for the fifth
or victory liberty notes. was much
| heavier than for any of the other
loans. subscribers Withdrawing the
cash rather than buy on the INSTALL
ment plan.
Victory Notes Listed.
| The fifth viitory liberty loan notes,
listed on the New York Stock .Ex-
change this morning. Trading was
moderately large. with the opening
price $3.50, remaining for some time
at this figure.
| While there has been no actual al
| lotment Of the notes, and the sellers
run a chance Of going short, it is. OF
course, known that all subscriptions
up to $4,000 will be filled, while larg-
er orders will be cut down.
Bankers generally expect that the
lax per cent tax-free notes will hold
their own very close to par and even
| tually Cross. par to a premium.
Thursday evening the class in e1e-
mentary banking will be quizzed in
O'Hara. who will also continue his
lecture on the same subject
| About fifty bankers from Baltimore
will be the guests of the Washington
Baltimore and Annapolis system to-
morrow. visiting Washington on a
tour OF inspection of the road and its
properties. This may Suggest finan-
| cling