Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-16
LIGHT DEMAND FOR
LOCAL SECURITIES
Railway 4s Show HaIf-Point
Loss-To Urge Refund
ing of Debts.
RY L. A. FLEMING.

The week in the local security
market opened without any signs of
improvement whatever. The only
favorable comment that can be made
about the market is that there seems
to be very little pressure to sell Sc
curities.
was IN Washington Railway As, which
broke from SO to 5oi2 on restricted
trading. Washington Gas IS sold
At 10.
In the stock list National Metro
politan Bank shares featured with a
25-share lot at 22o
The only other transaction was
safe of Railway preferred at A.. last
weeks closing quotation.
Bid and asked quotations on the
typesetters did not show any mate
rial change, but slight concessions
were offered here and there in the
miscellaneous list.
baltimore to Urge Funding.
Baltimore bankers. members OF the
board of trade and chamber of COM
merce. Maryland Bankers Associa-
ton and the Merchants and Manu-
1acturerS' Association have all agreed
10 give the subject of funding of the
allied debt to the United States con-
sideration and publicity in the imme-
date future.
Commenting on the matter. B. H.
Griswold. jr., president OF the board
of trade. has this to say:
IF the debts were funded and the
obligations to pay fixed for some
specified time. then the nations ow-
ing the money would be prepared 10
pay or would arrange for an extern
sion of the settlement period. Ger
tainly there can be no objection 10
this it is common banking practice
and yet it is the only issue involved
in the present suggestion. Ihere Is
no desire to force any of the Euro
pean countries to a burdensome bar
gain, particularly at this time, Wnen
most of the allied nations are strN-
ing so hard to meet the war burdens
thrust upon them. These will be
consulted and the terms of payment
made as easy as their financiers and
treasury officials think adequate.
There will be market here 1or
these bonds, which will carry the
government guarantee. 1t may De
they will not command the hlgnest
rates of interest yield. but when fund
ed the obligations should be SOLD al
the price the market will stand Use
the proceeds for taking up an equal
will at once follow automatically d
lessen.ng of the tax burdens now sad
died on this country
On the Convention Program.
The committee on speakers OF the
American Bankers Association an
nounces that Sol Wexler of ]. S. Bache
& Co., has been scheduled for an ad-
dress at the forthcoming convention.
his subject being "Underwritings and
Financing Big Business"
Because of his long financial expert
ence Mr.. Wexler is particularly quail
fed to handle this subject.
1t is announced from Chicago that
more than half of the reservations on
the bankers special convention train
have been taken. although the usual
invitation literature has not been is
sued as yet. Western bankers will
join the Chicago delegates in large
The Chicago special will reach
Washington 40 Monday morning. Oc-
tober IS.
Oklahoma bankers will visit Mem
phis. Chattanooga. Ashevilie and
1ynchburg en- route to Washington.
Personal Mention.
c. c. Glover. jr.. returned this
morning from Buzzards Bay and w. ].
Flather. jr., his partner, left on his
vacation.
George W. White of the National
Metropolitan Bank returned this MORN
ing. C. F. jacobson. cashier Of the
on a two-week vacation in the Blue
Ridge mountains.
John Poole of the Federal National
started on a weeks vacation following
the return of C. B. Lyddane, cashier,
from his annual outing.
w. w. Spade of w B. Hibbs & Co.
returned from New York and Atlantic
City this morning.
A. Robert Gilmore of Moorhead &
Elmore returned this morning from a
six-week trip to the Pacific coast.
F. w. Stone, vice president of the
ntrl
was at his desk this morning after an
auto outing.