Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-18
LOCAL INVESTORS
BUY CERTIFICATES
Richmond District Took SILL.
022,500 of Latest Treas.
ury Certificates.

/ Washington bankers probably took
over 100000 of the recent Treasury
certificate issue. but the banks them
selves added but few to their hold
ings. Most of the actual purchases
were for. depositors. as was the case
with previous per cent issues
Probably one of the largest, if not
the largest, investment subscriptions
from local institution entirely for
the accounts of customers was over
$3.50. 600. This original district took
|$11.022.500.
Efforts have been made in the in
terest of local investors to secure
larger allotments of the issue, bu,
they have been unsuccessful.
Some banks are still carrying AZ
per cent certificates issued months age
and which they will carry to maturity
but which have a discounting privi-
lege at 5E per cent rate, making
them unattractive as an investment
especially i'll competition with the
later issues.
Sales of the two issues just closed
totaled s44S,596.500. None of this
money has been withdraw from banks
as yet.
Fourth 4 la Per Cents.
The Richmond Reserve Bank has
notified bankers not to send any
fourth liberty loan An per cent bonds
for exchange for final issue with cou-
pons on until such time as it mott
fies banks that it is ready TO make the
exchange.
The exchange here will probably be
made at the Treasury as usual. The
face of the bonds promise exchange
October Is, but a number Of holders
are asking exchange at this time.
Personal Mention.
B. B. Wilson. formerly a we'll known
junior. bank official of Washington, is
now assistant cashier of a national
bank at Newport News.
= National Bank Section.
Attention of all members Of the ma
tional bank section is respectfully
called to the following clause in the
bylaws. directing the manner In
which resolutions must come before
the section for consideration:
."All resolutions to be presented fol
the consideration and action of the
National Bank Section other than
those involving points of order OF
procedure or matters of courtesy shall
be filed with the secretary of the Sec
ton at least fifteen days before the
day on which they are to be consid-
cred by the section and shall bear the
recommendation of the executive com
for consideration"
Members desiring to offer resolu-
lions in the national bank sections
meetings during the A. B. A. conven-
ton should file, them with the secre-
tary in the sections Offices in Rooms
4o6-7 Mills building, Washington
D. c. -
Aeceptanees Cheaply Handled.
One of the federal reserve banks has
provided the American Acceptance
Council with a record of trade &C.
ceptances received for collection from
January / to May 81 of the current
year The figures furnish interesting
testimony as to the extent Of ex.
change charges on collections.
During the period named the bank
handled for collection a totalfof &c..
s76,324.1s.
or this amount $3.os3.s6s.26 were
payable within the banks own dis.
trict; $2,S74.470.33 were collected with
out exchange charge. and charges
were made on $20s.3s7.S3. the ex.
change on the latter total being
A total Of $7,7s2. 1852 was payable
in other federal reserve districts. OF
this $6,654,26 was paid at par, and
on the balance Of $1,13S,227. charges
|totaling $1,093.52 were made.
= Out of the total amount, therefore
OF $10,876,324.18. $9.52S.735.62 was paid
at par. and on the balance Of $1,347.-
6Z5.66 exchange charges Of $i,3e3 SS
OF. about one-tenth Of l per cent. were
made.