Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-09-10
MARYLAND CHECKS
COLLECTED At PAR
Federal Reserve Board Announces
First State Wide Entrance
to System.
BY I, A, FLEMING.

Local banks received information from
the federal reserve banks of Richmond
this morning that all checks on banks
in Maryland, state and national, would
hereafter be collected at par.
Collections on Il number of instltu-
tons in that state have been made at
par for some time, put the completion
for statewide collection just announced
is matter of congratulation to bankers.
Moreover, it is the first of the forty
eight states to come wholly under the
government collection system.
Riggs Bank Dividend.
The regular semi-annual dividend of
the Riggs National Bank, Sl3 share,
has been declared payable October Is.
On the A. I. B. Program Committee
The program committee of the
American Investments Bankers Asso-
citation will meet in New York tomor-
row. Eugene f. Thompson. one of the
local members of the committee, will
attend the session.
Big Rail Order.
An order for 10000 tons of steel
rails has been distributed between the
Bethlehem Steel Company. the Lacka-
wanna Steel Company and the sub
salaries of the United States steel
Corporation.
Many railroads are sounding the
possibilities of rail tonnage Tor next
year, and continued steadiness in val
ues will more than likely be followed
by the placing of large orders.
Absence of orders from the railroads
has been the chief handicap of the
steel companies in their resumption
of activity, less than 5 per cent of
the business of today being from rail-
roads. where. ordinarily their demands
absorb six times as large produc-
ton.
Pass the Edge Bill.
The Senate has passed the Edge bill
authorizing the organization of for
eign banking corporations under the
supervision of the Federal Reserve
Board.
AS amended the bill prevents for
eign banking corporations so or
ganiZed from engaging in commerce,
dealing in foodstuffS or from Interior
ring with the sale of commodities.
Shareholders in any corporation so
organized have double liability and
are liable to same taxation as stock
holders in other banking institutions.
Investments in any one enterprise are
limited to 10 per cent of the banks
capital and surplus.
Acting on the suggestion =. Senator
Owen, a provision aXs--, pting foreign
banking corporats--.s from antitrust
laws rs ei;--.ated.
.u1-NJ of American control of
syca corporations was amply provided
Cor.
New York Exchange Closed.
The New York Stock Exchange. curb
market and consolidated exchange. as
we'll as the cotton and coffee ex-
changes, were closed today in honor
of the parade of returned soldiers
headed by Gen. Pershing.
Good Bond Trading.
Trading on the Washington sock
Exchange today was confined en-
tirely to bonds, not a single sale of
stock being reported.
In all S13,500 par value of bonds
changed hands. including $1,000 of Po-
tomac Electric General IS, in 500
lots, and $4,000 addition, all at 9SA
Railway As brought So and Washing
ton Gas IS, 951a.
A $500 Capital Traction 5 per cent
brought 93A. -
Stocks were unchanged as to bid
and asked prices.
Personal Mention.
Charles c. Glover returned home
this morning from York Harbor and
Buzzards Bay, where he spent the warm
months.