Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1920-12-21
ST. LOUIS Banks
STRONG FOR j. s.
NOTES And BONDS
THEY SELL s5s,2oo IN TREASURY
SAVINGS CERTIFICATES FIRST
TWO WEEKS IN JANUARY.
SIS BANKS CASH AGENTS
lows Banks Signing Cash Agent
Contract Liberal Terms.

are taking kindly to the Treasury
Savings Certificates issued by the
United States Government, and So Of
the banks of st. Louis and the i'm
mediate suburbs are Offering these
Il securities to their clients as a regular
part of their business.
Most OF the banks are handling these
h securities on the cash agency plan.
} That is, the banks buy the securities
] from the Federal Reserve Bank in
st. Louis, carry them in stock just as
a merchant carries his regular staples.
He pays cash for them, and carries
/ them and has them on hand when d
customer applies for them.
! The cash agent h-s an advantage
! over the collateral agent, inasmuch
! as when the cash agent at the close of
| the year settles with the Treasury De-
| partment he returns the Unsold securi-
| ties at the price the security is worth
| at the time he returns them. For in
stance, if he should buy 500 Certif-
cate in January and hold it until the
| following December, the bank would
draw the interest any regular holder
would draw-2O cents per month. Thus
| his stock in trade is not only not
getting shopworn, but is constantly in
| creasing in value at the rate Of 3 per
| cent per annum.
! The collateral agent, however, is,
under the regulations OF the Treasury
| Department, REQUIRED to turn in his
! securities at the price he paid for
| them. Thus, if he should buy a 500
/ Certificate in January, paying SS2.40
| therefor. that is the amount OF money
he would receive at the end OF the year
when he turned it back.
The banks of st. Louis did not get
an early start last year in the Treasury
/ Savings Certificate game, but in the
few months of last year when selling
them they disposed of S185,5OO.
This year the start is much more
suspicious. J. IT. Anderson, Director
of Sales for the ST Louis NIetropoli-
tan District, during the first two weeks
in January visited the banks aad OBJ
tanned the signatures of most of the
SO banks as cash agents. The banks
ordered the securities they reQuiced
and in less than two weeks they
placed S5S2OO Certificates with their
customers.
The First National Bank, which was
one Of the leaders last year, and
which was again signed by Anderson
as a cash agent, sold $4,000 of the
Certificates to tneir customers during
that part of January following the
signing Of the contract. The sales will
probably increase each month.
The Merchants Laclede Bank sold
$500, the Mercantile Trust Company
$4,000, the Franklin Bank $4,000 and
the North st. Louis Trcst Company
$4,000.
Other st. Louis banks that are now
handling the securities are:
American Trust Company.
Baden Bank
Bank OF Maplewood
BOatmen's Bank.
Bremen Bank.
Broadway Savings Trust Company.
Cass Avenue Bank
Central National Bank.
Chippewa Bank.
Chouteau Trust Company.
Citizens Bank of Maplewood.
City Trust Company.
4 Y.
Farmers C Commercial Savings Blk.
Farmers &c Merchants Trust Co.
Franklin Bank
Grand Avenue Bank.
Gravois Bank of st. Louis.
HodiamOnt Bank
Kirkwood Trust Company.
International Bank.
Jefferson Bank.
Jefferson-Gravois Trust Company.
Laclede Trust Company.
Lafayette-South Side Bank.
Lemay Ferry Bank.
Liberty Bank.
Lowell Bank.
Manchester Bank.
Meramec Trust Company.
Mississippi Valley Trust Company. |
Mortgage Trust Company.
National Bank of Commerce.
Newmarket Bank.
North st. Louis Trust Company.
Northwestern Bank.
Savings Trust Company
Scruggs, Vandervoort & Barney Blk.
South Commercial Savings Bank. !
State National Bank
st. Louis County Bank.
st. Louis Union Trust Company.
South Side Trust Company.
Tower Grove Bank.
Union Station Bank
Webster Groves Trust Company.
United States Bank.
Vandeventer Trust Company.
Water Tower Bank.
West St Louis Trust Company.
West End Bank
Hold on to your War Savings
Stamps. Don't cash them. They are
earning interest for you every day.
Give me anoCK1szr cup of lockwood,
please" That's the common talk at
most of the hcrr,..- Il, al. 1.cl.a LII z