Evening star., 1920-03-28
DEMANDS FOR MONEY URGENT
AND IN EXCESS OF OFFER RINGS
Entire World Calling for Credits-Causes
That Make for High Rates-The Effect
on Real Estate Business.

governments became borrowers into
the billions and in this country over
Sl"o0o.000.0 900 was invested in the
ronds OF the nation. Besides. as said
before. 1t requires 81 now to do the
work OF 81 in pre-war times.
II wish l might offer a solution. but
admit it is not possible for me to do
so. 1t would seem as if one hope for
this city might come from the de-
moblliZing of very many of the pres
ent war activities which are not
necessary. but that Is only one thing
people have got to live. we are no
longer nomads and cannot live in
tents-even II the latter were less
expensive than they are.
May Increase Interest.
Perhaps it may be necessary for
money in the open market for de-
ferred payments when Undertaking
ventures in the interest of their eli
ents We are loaning our usual quota
OF funds for realty investments. but
could place much more to advantage.
Practically the only interest not
complaining of a scarcity of money is
the merchants. and their demands are
being cared for as usual on the per
cent basis and they need more money
than ever before.
Wall street gets money in fair
amounts for the reason that it pays
the price. and it gets it and has al
ways gotten it from banks in nearly
every state in the Union. Three big
piocks of new corporate financing
nave recently been closed. practically
Immediately, on : and S per cent
basis"
Moreover these securities are mar
ketable at price every business day
in a year.
Further ON Federal Finance.
Before the war the government debt
nual interest on the debt is about the
same amount
Income taxes vetaken for the
government more billions with each
year and while this money is ex-
pended in the United States it causes
peclally around tax payment time.
City Club Financing.
Milton E. Allies. chairman of the
finance committee of the City Club
admits that he has a mans work cut
out for himself and the members of
his committee in raising the 100000
on the first trust mortgage for the
erection of the proposed home for the
City Club. He believes. however. that
the matter would be relatively easy
but for the club" provisions.
In order to soften this the archi-
tects of the club home have made
all arrangements in their construc-
tion plans for the speedy conversion
of the building after erection, either
building or hotel. should the contin-
gency necessitate.
Mr.. Allies considers that it is case
of civic pride that the trust compa-
nies of this city should furnish the
money for the first trust on the home.
q f<rr-
something like 100000 to be on the
shoulders of club members.
Local Stock Market.
During the last six days there has
been fair trading daily in local stocks
and bonds. with very little change in
values. other than a slight recession in
Washington Gas and an easier tone in
Lanston. with a firmer market for Mer-
genthaler on big earnings. Lanston is
said to be making very good on earn
ings, but there has been no liquidation
of this stock in order to take losses for
income tax purposes, as there was in
Mergenthaler some months ago.
Washington Gas has worked of frac-
tionally under some temporary iquida-
ton, but the continuation of the pres
ent rates for gas until June 1 and the
disposition of the public utility commits
sioners to meet the needs OF the occa-
sion should stop any material selling OF
this stock. ''t
Railway preferred and some bond is
sues have eased off from perfectly nat
ural causes, continued reiteration or
Improbable operation having brought
some selling orders into the market.
Graphophone shares have followed in
the action on the New York stock mar
ket for these shares.
Foreign Exchange.
Sterling exchange sold up yesterday
to 1856; francs to .O701 cents Marks
were unchanged at .ol4 cents and lire at
.05O7
Standard Savings Opens Tomorrow.
The Standard Savings Bank will open
tomorrow morning in temporary quar-
ters at 931 9Th street northwest, pend
ing the completion Of remodeling the
banks building. at 9Th street and New
York avenue
The officers and directors of the
bank are as follows Algernon s.
Gardiner. president; DR.. J. Rozier
Biggs. vice president; E. D. Williams.
vice president: I. 8. D. Sauls. treas
urer; D. S. Venables. cashier; John
Carraway, assistant cashier; j. D.
Eason, jr.. attorney; William Z. Rich
ardson. general counsel.
Directors-Wistar NJ. Balderston. DR..
]. Rozier Biggs. Mrs. NJ. Brooks. John
]. Costinett. A. ]. Driscoll. j. D..
Eason jr.; Admiral F. F. Fletcher.
lSd0OTe fTeuHu, AiSeIHou .. 1di uihci' :
Arnold Hirsh. Leo Hughes. Edward
Kohner. DIR. Harry s. Lewis. William
Neuland. William E. Richardson. Fl.
W. Robertson. David A. Rosen, I. S.
D. Sauls. ]. 3. Trew. Dale S. Venables,
Ernest 6. Walker. DIR. Charles Stan
ley White. f. D. Williams and w.
Carl Wyatt
DO You Always Do 1t:
When you pay a stock tax of SO
much share. when you pay lux
ury tax on a hat, a suit of clothes or
even a diamond, do you always keep
tab and take credit for the total
amount of taxes paid when you make
up your income tax. II you do not
you should. for you have the right to.