Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-29

tional Finance Corporation. Of which
Ben l.. Prince is a vice president and
manager. was apparently organized
at an opportune time OF late many
| of the usual channels of obtaining
credit have been closed to merchants.
at least to a degree. and a new source
| of credit was therefore given a great
welcome
f! The international Finance Corpora
| tons business is of a semi-banking
nature in that it buys commercial ac-
counts counts receivable rec e. trade acceptances.
-pany advances about 80 per cent of
| the face vale of an account as a
| guaranty against each account which
amount Is refunded on the liquida-
| ton of the account 1t will make
| loans on warehouse receipts
Interest furnishes the return to
! the corporation
PROPOSES to Handle Mortgages.
IT Will be good news to the real
estate interests of the city to know
mat the International Bank plans to
mortgages with the inves tment inter
ests OF Iowa and the west. according
10 the plans of the officials of the
corporation. who are largely western
men.
This is the institution that has ac-
quired recently blocks of stock in
me International Finance Corporation
ana IN the Merchants Bank
ne ofncers of this company are A.
a. Loetscher. president; William l..
oymons, "A; f. Cooper and l.. J. Hart.
vice presidents; John r. Waller. sec
rotary: Thomas B. Lawler. assistant
secretary. and Austin c. Waller,
treasurer.
The officers are generally Iowans,
put some are from Texas and Wis
consin.
The capital of the institution has
been placed at $4,000 900. with 1000.
GOO paid in, with plans made for an
exchange of capital with other in
stitutions in which investments may
be made.
more about mortgage placements now
than anything else save a'shortage of
apartments.
Call for Final Payment.
s. The Treasury has called upon bank
erS to make payment of the balance
of funds in their possession to the
credit OF the war fund, resulting from
the sale of the 5$4 per cent Treasury
certificate issue. preceding the last
6 per cent issue.
No drafts have been made on the
funds arising from the sale of the
August 16 issue.
The called payment is for Tuesday
next.
Observation-Disclosures Railway.
circular just issued by ii. s
Graham of Philadelphia to the bond
holders Of the underlying company
covering references to the financial
condition and outlook of the Wash
ington-Nirginia Railway Company,
says:
1T will require about s250.n00' to
meet interest and maturing obiiga-
tons and improvements to protect
the welfare of this company.
FOLLOWING your bonds come some
100000 of classes a and secured
notes of the Virginia
Railway Company.
Here follows a recital of the for
nation of the noteholders protective
committee, of which II. S. Graham is
chairman. which includes MeSsrS.
Donaldson, Ham and Norment of this
city. with the assurance that
This committee has agreed to raise
the necessary funds required. subject
to audit now being made when stock
of the Virginia Railway
Company is deposited under IAN
agreement giving the committee con-
troll and management of the road
"Out standing notes are junior to
you and we feel that your bonds will
be protected and the present plans
completed without cost to you.
In view of the above we recon-
mend that you await the completion
of the plans of the noteholders' COM
mittee."