Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-05-05
LOCAL SECURITIES )
AGAIN NEGLECTED
Lanston Dividend Declared.
Uniform Money Straps
Adopted.
BY 1. A. FLEMING.

Business on today's session of the
local exchange was again greatly re-
stricted. There is a market for stocks
and bonds at a price, and II not &C
ceptible, they must be held. One can
not expect. much public investment
buying at time when conditions are
as unsettled and the biggest men In
the security business are predicting
serious results as sure to follow the
impost of a sales tax.
Money seems to be working easier.
but SO far as time money is concerned
there has not been any offerings to
amount to anything, that is for Sc
curity operations.
Sales on the call today included
Chesapeake and Potomac Telephone
5s at 81. Railway preferred at ~ Y
a few shares of Second National Bank
at $50, while Mergenthaler eased of
TO 131.
Lanston Monotype Dividend.
The regular quarterly dividend of
II. per cent has been declared on
Lanston shares, payable to stock
holders May 81. The annual meeting
will be held tomorrow at Alexandra.
when the showing for the year 1918
will be made public.
Uniform Money Straps.
Another suggestion made at the last
convention of the District Bankers
Association by r. " Fleming. regard
ing the use of uniform straps for
money and the cooperative purchas-
ing and sale of these straps. has been
adopted by the Washington clearing
house.
On and after July it will be obliga-
tory on all banks in and out of the
clearing house in the District to use
yellow strap for $50 package of
money: a gray strap for .a.s 500 package =
pink strap for $500 package and a
green strap for $1,000 package.
The only printing on these straps
will be the amount of money contain
cd. and the distinctive colors will tell
the package. A rubber stamp is to
be used to indicate the bank in which
the package originates and the date
1t is made UP.
The purchase of these straps will
be made in one or two million lots by
the clearing house and sold at cost
to banks.
Bond Convention.
Second liberty 4 per cent bonds and
first As received at the Treasury De-
partment or at federal reserve banks
for conversion after June IA. 1920.
must be accompanied by payment of
one-fourth of one per cent OF the
face value of the bonds presented to
cover interest adjustment to the next
succeeding interest payment date. as
conversions are only effective as of
the interest payment dates.
Permanent Az per cent bonds de-
livered on conversion will be accom-
panied by special per cent interest
coupons in payment of the interest
due May Is. 1920. on the second loan
and June Is, 1920. on the first loan.
Request is made for the surrender
Of second As liberty bonds on or be-
fore the 18th instant and before June
II for the first loan.
Must Present and Protest.
The Richmond reserve bank has
notified member banks in this district
that acceptances should be presented
for acceptance at once, and that when
due they should be collected. or ii
payment is refused they should be
protested.
Otherwise banks having drafts or
acceptances make themselves liable
for loss, should any occur. on account
of the failure of the bank to make
presentation and acceptance.