Evening star., 1919-05-08
TO TAKE THE NOTES
/ IF ANY SHORTAGE
Banks Stand Ready to Buy.
Will Distribute Up to
goth Instant.
TREASURY CALLS CASH
BY I. A. FLEMING.

oficially the victory liberty loan
closes Saturday night, and the first
payment under the government
terms, 10 per cent. will be due that
day.
The loan will go over, probably with
an oversubscription. Many of the
banks consider the notes an excel
lent investment for their own funds.
in view of the fact that they are
readily usable as collateral for banks
notes with the regional reserve bank
at An per cent. This fact makes it
certain that bankers will willingly
take any part OF the loan that is not
subscribed by the general public, al
tary of the Treasury that the loan be
given the widest distribution.
In furtherance of this idea. the
banks will continue the filling of be-
lated orders from investors for an
additional ten days. the orders to be
make no changes in totals, but only
affect bank subscriptions.
So far the orders in Washington
have been nearly all for the 4a4 per
cent notes, in contradistinction to the
big buying in New York and Chicago,
where the az per cent tax free is
sues have been inviting and favored.
The victory liberty notes will be
from that date.
Personal Mention.
Victor B. Deyber. who will this even
ing be elected president of the WASH
ington Chapter. A. l. B., is the cashier
of the Second National Bank, and one
or o,tfs the most most popular of the junior
one time connected with the old West
End Bank. and was private secretary
to the late Frederick c. Stevens.
founder of the Commercial National
Bank. and directly responsible for the
consolidation of the various units that
formed the Washington Railway and
Electric Company's traction system.
After Mr.. Stevens death. Mr.. Dey-
ber Joined the Office staff of the Fed
eraI National Bank. going from there
to the Second National He will sue
ceed E.. ]. McQuade. the retiring presi-
dent. who has made a most enviable
record as head of the chapter
Federal National Over.
At noon today. faderal Nation
al Bank report as4iCient orders
booked to meet i,s qaota of $61S.460
victory liberty notes. with chances
for a material excess before the
close of the week. The Federal Ma
tional has been over it's allotment in
every one of the five of the liberty
loans.
Treasury Calls for Cash.
The Secretary OF the Treasury has
called upon all banks to repay to the
Treasury. not later than tomorrow, so
Per cent of the balance of cash on
deposit in the banks to the credit of
the issue of Treasury certificates that
mature June 9.
Steel Conference On.
T c. Powell. p. B. Spencer and
Henry Walters representing the rail-
road administration. are in conference
with representatives of the steel pro-
ducers at the Hotel Plaza, New York
city. today.
This second conference was called
at the suggestion ofsDirector Hines
of the railroad administration. in an
EFFORT to reach price agreement that
would meet with his approval and re-
suit in the placing of large orders for
the railroads of the country to the
giving of the necessary impetus and
stability that would bring general re-
vival to the steel business.
1t is understood that failure to
reach an agreement will be followed
by a united and general effort on the
part of steel producers to stimulate
trade.
Wall street took the view that an
agreement was certain, as the di-
rector general would scarcely take
the risk of second refusal to accept
the concessions of the producers.
Director Elected.
DorsId Woodward, president of
Woodward * Lothrop, was elected a
director of the Washington Loan and
Trust Company yesterday afternoon.
The new director is a son of the late
S. w. Woodward. one of the original
directors of the trust company
A large number OF small lots of Mer-
genthaler stock changed hands on to-
days session of the local stock ex-
change, with an advance from the
opening at 141A to 142 at the close.
A few shares OF Capital Traction
stock brought s5A ana sox. Wash
ington Gas stock sold at son.
Trading in bonds was slow with
prices on the issues sold rather firm
at 96 for Capital Traction SIS. 96 for
Potomac Electric first SIS and 9S for
the general IS of the same corpora
tion.
One sale OF Farmers and Mechanics
National Bank stock was reported at