Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-07-01
SATURDAY CLOSING
GREATLY DESIRED
Richmond Federal Reserve
Bank Will Not Be Open
That Day.
VICTORY NOTE RULING
By I. A. FLEMING.

By I. A. FLEMING.
e.ted in the matter Of closing their
institutions Saturday morning, which
would give the admittedly overworked
clerks a three-day holiday, Friday
of this week being holiday with but
one-half day between Friday and the
Sunday recess.
Secretary Thompson of the District
Bankers Association has submitted
to j. ]. Darlington, counsel for the
association, the resolution adopted AT
the Deer Park convention favoring
adjournment from Thursday night un
ill Monday morning, simply one,naii
day other than the legal holidays.
asking for his opinion on the Iegallt!
of the measure.
Mr.. Darlington had made no re-
Spouse up to the hour of going TO
press, but the bankers who favor the
measure md some satisfaction in the
fact that the Richmond Federal Re.
nerve Bank has announced that IT Will
not be open for business next Satuf.
day but will take the full three days
holiday.
notice Of intention to close Satur :
day should have been given. wniie
others contend that general not,Se
even as late as Thursday OF TINS
week when the saeenfiye c %a hold
a special meeting for the purpose or
considering matters connected win
the publ cation of the PROCEEDINGS
ct the convention, h etc; ,hs r sue" Of
the gathering will contain some 90.
900 words other than the papers that
were read at the convention
Conversion Of Victory Notes.
Forms for the conversion OF vic
tory liberty notes from ~ to 3%
and vice versa were sent out by the
Richmond reserve bank to all mem
Der banks in the District yesterday.
No conversion may be undertaken
until July Is, this fact being wholly
responsible for the fact that the tax
free issue. the "a per cent. are sell
ing a little higher than the IN per
cents of the New York market.
Separate forms must be used FOR
forwarding the victory notes for
the desire of the owner. Separate
forms must be used to indicate cou-
pom and registered notes and all cou-
pons must be attached to the notes
II az per cents are being surrend-
cred for Az per cents an adjustment
az to interest will be to the govern
ment. while the reverse will prevail
II the ~ per cents are surrendered
for the ~ per cents.
Must Pay Charges.
Transportation and insurance
charges must be paid on all notes
o.. will
be delivered Immediately, and in the
absence of written instructions and
remittance to cover expense. will be
expressed at the owners risk and ex-
pense.
Registered notes will be delivered
directly to the owner or mailed by
registered mail without expense to,
but at the risk Of the owner. On re-
ceipt Of s cents per $1,000 OF notes
delivery Of notes converted.
Shipping Of notes should be wit
messed by two adults. one OF whom
should have charge OF same until de-
posted ana ss at post m cid
postage rates permits two-cent
stamp for an out-of-town letter.
Railroad Bill Signed.
The reported signing Of the rail-
road bill by the President on the high
seas, thereb makes good the checks
which Director Hines. had mailed to
the railroads and which are payable
today.
Bank Dividends Declared.
The National Capital Bank semi
annual dividend Of per cent is pay
able today.
The usual per cent quarterly divi-
dend Of the District National Bank Is
payable July 5, the books closing yes
terday.
dividends for July 1 payment.
oraphophone Preferred Active.
oraphophone preferred monopolixed
much OF the activity on the local
stock exchange this afternoon. In all
500 shares were sold. the hrst odd lot
at s5k and the rest Of the stock at
esq.
Stock was taken in round lots and
odd lots. and at the close Of the trad
ing e5A was bid, with the market
bare Of Offering except at higher
figures.
A few odd lot. Of Capital Traction
sold at 50. No reported transactions
in Railway shares.
Lanston was a little frmer at 691s
while Mercy was quiet and I'M
changed.
Bond transactions included Railway
AZ at ssk, Capital Traction SIS at 81