Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-19
UTILITIES NOTES
SOLD At AUCTION
Block of $25, 1000 Recorded in
New York at ~ Under
Hammer.
BY I. A. FLEMING.

At the auction sales in New York
city at the auction rooms of Adrian
II. Muller yesterday $4,000 of the
notes of the Washington Utilities
Company, due June /. 1918. hut ex-
tended to June /. 1919. and defaulted
as to interest and principal. were sold
under the hammer at
The transaction reported in the New
York papers was noticed by some To-
cal bankers. and it is within the prob
abilities that the auction market may
he tested in the near future with lib
erai offerings by Washington bank
ers who would he glad to write off %
per cent for the privilege of dlspos-
ing of their holdings.
There are outstanding or on deposit
with the protective committee sl.3sl.-
600 of these notes. Under present
conditions IL would be a difficult mat
ter to sell the block of collateral back
of the notes. 1880 shares of Railway
common stock, for anything like the
face value of the note issue less ma
tured interest. but it may be possible
some time in the future. If relief
measures are adopted by the local
utilities commission, to dispose of this
security.
On The present bid price the stock
would, if it were sold, pay little
value of the utilities notes.
1t is just possible that the notes
referred to as being sold yesterday
were bought in for the owner and the
record established.
It does not mean much in Washing
ton. however.
More Treasury Certificates.
The Treasury Department respond
ing to the continued demand for
Treasury certificates for the payment
of income tax and excess profits taxes.
has ordered the federal reserve re-
gional banks to issue Az per cent
certificates of the series ia. dated
June 3. 1919. and maturing September
IS. 1919. as may be needed to replace
various issues maturing July Is. July
%. August Is and September 9.
These certificates can only be ex-
changed for maturing issues with ad-
justment of interest, therefore they
cannot be paid for in cash nor can
they be charged to war fund account.
II is possible to exchange any of the
four maturities named for the new
certificates, but bankers are advised
10 use the certificates maturing July
90. for the exchange, as most con-
venient.
1t is expected that about 10000, 900
gold will be required to satisfy the
demands of South American creditor
nations ana pTODdDlS az nuCn more
for the needs of Japan.
Within the last few days an alb
normal transaction was made in the
shipment of 100000 gold to England.
with the exchange rate prohibition
against the shipment. the export be-
ing for industrial consumers of the
metal.
On the Local Echange.
Business on the local stock ex-
change was confined to sales 80 shares
of Lanston in lots at 50. 20 shares of
Capital Traction at 80 and a little
Railway preferred at go.
Railway As sold at 6912 and Metro
politan SIS advanced to 95.
The regular per cent quarterly
dividend for the current quarter was
declared yesterday by the directors of
the American Security and Trust
Comany. payable July 10. books close
June 80.
Security Storage dividend for the
quarter is 212 per cent. payable July
10. books closing June 80.