Evening star., 1920-06-25
WILL MAKE REPORT
ON BANKING HOURS
May Suggest 9 to z as Busi-
ness Day-RaiIWay 4s
in Good Demand.
BY 1. A. FLEMING.


house committee appointed to con
slider the proposition of uniform
opening and closing hours of banks
in the District, as we'll as co-opera-
tion on other matters connected with
the operation of banks, will make
report to the clearing house associa-
tion next Tuesday.
No official announcement of thelr
recommendations can be made before
they have filed their report, but it is
understood that they will recommend
uniform banking hours from am.
until pm. These are practically
the customary business hours OF
banks in larger cities, five hours
day. although in many places the
banks do not open until 10 O'CLOCK
in the morning.
- In addition, it is suggested Ihat
banks stay open for business Tour
evenings during the month, follow
would seem to cover the situation
and it's needs in a manner satls1ac-
tory to bankers generally.
when it is known that the banking
hours are uniform and fixed the pub
lie will recognize the fact and meet
=
changes and conditions in business
~ The committee is working earnestly
in the matter and results may be ex-
pected should the proper encourage
nent be given by the member banks
and the chances are that it will be.
Railway As Active at 81.
w Railway As furnished the most ac-
tive security on todays session OF
Z the local stock exchange. In all Slo,-
600 bonds sold in lots of $1,000 each.
ALI at 81 Capital Traction IS were
a little frmer. selling at SSA Rall-
way preferred was stronger ana Gap
itsl Traction sold at S4 Is.
q The general list, while little oetter
than nominal. showed slight I'M
provement as to asking prices.
y Wall street Not Borrowing.
~ Money "a ner cent on call on Wall
street does not mean that the street
has again extended its borrowings un-
. Ill the strain has told on rates wan
street is doZing, its fnancial neeos
with a daily turnover or some 3oo'-
600 odd shares are not urgent and
other conditions entirely are respon-
sibIe for the high rate of interest
&, The men who control. to certain
extent. security investment and spec
ulation have the market well in hand
and will probably keep the brakes on
until after the shifting OF FUNDS Incl
"
have resulted from the payment or
heavy income taxes. state. county and
municipal taxes, district taxes, liberty
bond interest, crop movement and the
preparations for the payments July 1,
account of interest and dividends.
Bankers are just beginning TO
realize how heavily they have been
hit by tax payments and by with
drawaIs from deposits for investment
in the government 5A and per
cent certificates, and they are no"
feeling the vacation draft-ali COM
ing at time when it takes two DOL
lars to do the business formerly per-
formed by one. causing close
scrutiny Of credit conditions and
recognition only of the claims of
necessity. -.
Bankers expect that conditions will
settle down after July 1, and tnat
rates will be nearer normal through
the balance of the summer.
Gold Coming From Abroad.
The steamship Mauretania. due on
Saturday. will bring 100000 gold
and larger cOnSlgnmentS are expected
in a few days Britain has denied
any intent to repudiate and has de-
ciared that she is even now prepaI-
ing to pay off her American debt.
This should have a material erect on
the money market in the immediate
future.
Dividends Declared.
The National Capital Bank will pay
its regular per cent semi annual
dividend July 1, to shareholders of
record June 25. :.
The Columbia National Bank Will
pay it's regular quarterly dividend OF
per cent July l.
: Old Dutch Market will pay its
semi-annual dividends, per cent on
mon stock July /. books closing June 25.