Evening star., 1919-04-24
VIDE Distribution
! OF N0IESE MADE
Local Bankers Adopt Recon-
mendation Of Secretary Of
Treasury on Victory Loan.
PREDICT BIG SUCCESS
BY I. A. FLEMING.

victory liberty loan. urged upon thu
banks Of tho couatry the very wides,
distribution Of the victory notes. thai
the banks themselves should not b
compelled to purchase them. and by
50 doing restrict their ability to sup
ply demands made upon them fol
credit accommodations In the inter
est Of general business. This 10 thu
specific reason why banks have not
placed subscriptions for the notes fol
did in each Of the four preceding
loans.
It will be xscxllsd that the Riggs
National Bank started each OF the lib
erty loans in tho city Of washington
With a one-million-dollar subecrtp-
ton, and many other banks did the
same. not only here. but all over the
country, in dfferent amounts, IRE
qusntly propoHtionAtely to their re-
sources.
Loan to De Big Success.
The absence Of bank subscriptions
makeG the grand total Of sales for the
campaign to date comparatively small
but there 10 NO question but what thu
loan win Be . great success. with ths
distribution wider than ever.
A compilation of statistics regard
ing the work Of national banks in
the fourth loan. with some interesting
5est been completed by the controller
Of the currency. One of the most
dreditabls showings IN the entire
in9tSn among the cities of the union
IN the matter Of the subscriptions
plsced through national banks in pro-
portion to their total resources.
subscriptions tor the fourth, includ-
hr their own, OF 1850 per cent
Waahington national banks alone
subscribed to 31.11o.l6o Of the fourth
Sen So3S s9S sk "a q, e. s l. as
ana third liberty loans.
Changes In Discount Rates.
FEDERAL reserve bank Of Richmond
Aaa SAINT out . new card OF discount
sate4 s1Esotivs April Is.
Msmber banks collateral notes and
eustpmarS notes. secured only by
My esreno:s:. Win b aiscount-
elUD - lea0 and ~ per cant for SIX
bnon 70 aln0ty days.
1eom6or banks' collateral notes and
11oeomert notes secured by victory
Aote0 o. liberty bonds. for Afteen to
elAsey days carry the low rate Of N
Member banks collateral paper and
es1etomers' notes secured by war
Finance Corporation bonds, required
reveaue stamps. and are discountable
at " per cent for fifteen days or less
and s& per cent for sixteen to ninsty
Asmbsr banks. collateral notes Sc
cured BIZ eligible commercial paper
diseountAble ut ~ per cent for ff-
teen days Or less: trade acceptancss.
~ per cant for fifteen to ninety days:
commercial paper, ~ for ffteen ana
~ for ninety days. while axriculturai
ana live steck paper 10 rediscountable
At ~ for fifteen days or lees, a. for
sixteen to ninety day0 and per cent
Tor ninsty-one days to six months
Trust Company Elects Directors.
At the last meeting OF the directors
Of the National Savings ana Trust
Company. H. Prescott Galley was
elected . director to MI the vacancy
caused by the death Of Samuel Mad
dox. Mr.. Galley is a brother OF A. a.
Gatiey. cashier Of the Lincoln National
Bank, ana was . igw partner Of Samuel
Maddox. whom hs succeeds.
A Victory Lean 1xhibit.
The National Metropolitan Bank
makee q very creditable display of
munitions OF war ana small arns an
entrance to the bank is Hscoreted on on
either side by Nc bronse eagles, in
action. while arranged around the m
terror Are machine guns. aerial tor
pedoes. q Hrownin4 rapid-fire rife. an
1919 rihe. hint lock, and other military
equipment.
On the Stonk Exehaaee.
Business on toyiay's session Of the
local stock exchange WAs Confined
entireey to railway pfeferned At e0
and Waehington 0a1 At EIh, the
latter stock being In fairly bod
request