Evening star., 1919-04-21
BANKERS Want TO
convene ANNUALLY
snovement to Have Yearly
Meetings of District Finance
Il Men Grows in Favor.
Committee is NAMED
By I. A. FLEMING.

The movement in the interest of an
nual conventions of District of CO.
lumbia bankers received a new i'm
petus today when NJ. u. Rosenberg,
president of the District Bankers AS
sociation, named large and strong
committee to investigate and make
report on the matter.
State conventions of bankers are
held annually in every commonwealth
in the Union. The District of Column
bia. in the matter of tax payments.
in the volume of daily clearings and
in other lines of importance ranks
above quite a number of states.
Considered vitality Important.
= These annual conventions. where
bankers discuss propositions of vital
interest and devote two or three days
to study and debate. make for better
business and for closer and more
harmonious working conditions-con-
Ventions that are considered of Suff-
cient Importance to make many of the
leading bankers in other states close
their desks to be in attendance.
John 3. Larner. president of the
Washington Loan and Trust Com
pany. is chairman of the committee.
with Joshua Evans. jr.. of the Riggs
National Bank as vice chairman.
Members of the committee include H.
H Mckee. George .. Watson. John NJ.
Riordon, H. V. Haynes. r. n. Harper.
Cuno H. Rudolph. Julius 1. Peyser. w.
w. Spaid. Eugene Z. Thompson, A. s.
Galley, F. A Drury, c. j. Bell. H. G.
Meem. John Poole. George W. White
and George l.. Starkey.
Committee to Meet Tomorrow.
The committee has been called to
meet tomorrow afternoon at 4 o'clock
at the office of the chairman, Wash
ington Loan and Trust Company.
Victory Liberty Loan.
The victory liberty loan campaign
started with every sign of a quick
and successful completion of the
job" A long line of bank messengers
at the Treasury Department this
morning succeeded in getting 100000
of victory notes in $50 and S1o0 de-
nominations for each bank. but the
larger denominations were not ready.
Buyers of bonds appeared at the
opening hour and continued through
out the day. with assurance that the
first days sale would be fully up to
expectations.
1t should be remembered that notes
of the 3A per cent tax free and the
* partial exemption only are inter-
chang at the option of the buyer
during the life of the obligations.
An investment of $1,000 to $1,000 in
AZ per cent notes will yield as good
an income as a like amount invested
in taxable bonds paying 4.95 per cent;
$4,000 to $4,000 invested in the 4%
per cent notes would yield as good a
return as SIS per cent taxable in
vestment; 100000 to $22 900 invested
in the ~. per cent notes would give
a return equal to a $50 per cent in
vestment taxable, while a $4,000 to
$42,0 900 investment in the 434 per cents
would equal the return on 5.27 per
cent taxable investment
The tax free save as to estate and
Inheritance yield better interest than
very much larger amount of taxable
bonds would paying a much higher
rate. It would require 5.51 per cent
yield from $4,000 to $4,000 taxable
bonds to give as good return as from
like Investment in victory liberty
loan bonds. And the larger the in
yestment the larger the return in IA
vor of the 80. per cent notes as
against taxable bonds The capitalist
investing 100000 to $1,000. 900 in VIC
tory liberty 3s4 per cent tax free
you'd obtain the same net return as
be would in buying a like amount of
1873 per cent taxable securities.
Heavy Trading in Capital Traction
There was much interest in today's
session of the local stock exchange,
with decided revival of trading in
Capital Traction shares and a display
Of buying power quite out of the or
dinary.
With the immediate opening Capital
Traction shares sold at s5S then
eased OF S5E and to S5A when
mood of selling orders Unexpectedly
developed In all 40 shares of this
stock changed hands, much more than
the average weekly transactions in
the entire stock list.
But the liquidation developed that
the buying power. latent though it
appeared in the early opening, was
there, and the manner in which the
stock was absorbed was surprising
10 the sellers. Despite the heavy
offerings the stock gradually rallied
and recovered from S5A to Sc with
q small lot selling to SSH and the
closing bell showed Sc bid and S6h
asked.
y The market was active in spots in
other securities. Traction 5s were
firm at SO; Railway As sold at 20 and
Chesapeake & Potomac SIS at sSL
Washington Gas slow at SIX to 81.