Evening star., 1920-07-15
LESS DEMANDF0R
sFt
Z LAST CERTIFICATES
Local Bankers and Public
q Investors Purchases Are
1c
light-0ther Matters.
BY /. A. FLEMING.

The two recent issues of Treasury
certificates maturing in six and eight
months do not seem to have found
the degree of favor with the public
seeking short term investments that
the previous 5% and c per cent is
sues did. The largest banks in the
District report but very limited
demand Moreover, the banks are not
giving the issue the support usually
given to government issues. The to-
tai amount of the certificates is but
S200,000,000 and that they will be
taken practlcally goes without say
ing. but the District of Columbia is
liable to go under it's quota in the
subscription record.
There is reason for this, as there
is for all things. The banking fra
ternity resents with a deep feeling
the evident attempt of the Commits
sioners of the District to include in
terest from government securities in
their gross income subject to the 6
per cent tax.
A junior bank officer this morning
made this statement: There needs to
be a measure of cooperation and CO.
ordination between the national and
District governments. as the action
of the Commissioners. or their at
1empted action, has certainly re-
! tarded the sale of the government
certificates and will retard sale of fu-
ture issues, for the banks. il they
have to pay a tax on tax-free issues,
will select their own investments
looking to net results"
A Classy Jury.
The police court jury for the term
ending with September 80. includes in
its roster William B. Hibbs. banker
and broker; George o. Vass, assistant
cashier of the Riggs National Bank.
mr. Could nreSidant of the
Washington Mechanics Savings
Bank. Efforts made by two of the
three for exemption were useless and
the third decided to take his medi-
cine without comment, and to put II
up to the court to consider his claims
to vacation along in September.
The jurors were warned not to leave
the city and given the consolation
that they might only be called for
service two days week.
Personal Mention.
E. S. Wolfe. president of the First
ing friends in the city.
E. P. Wilson Of the National Saw
ings and Trust Company will spend
his vacation at Virginia Beach.
NJ. E. Allies has gone to New York
city.
Four Morning Sessions.
The general sessions of the Amer
will be held Tuesday. Wednesday,
Thursday and Friday mornings of the
convention week. This would seem
to simplify the work of the commit
tee on auditoriums and meeting
places, in securing the Palace The
: ater.
Given Authority.
The Interstate Commerce Commits
sion has given authority to the Nor
folk and Western Railroad Company
to exchange unissued capital stock
now in the treasury of the corpor-
alton for convertible gold bonds,
10-20-year per cents of 1882: 1926
year AIS. payable 1882, and 10-2s-year
as. payable 1888. and 10-year per cent.
maturing 1929.
The first series will be retired by
s1s.30o.ooo; the second by s1s.35o,oo0
stock and the third by s17,945 par
value.
Local Securities.
Washington Railway preferred was
better again today. a twenty-five
share lot selling at 41A. the high
point better than yesterdays low.
Washington Gas was a little frmer
at IS.
Continental Trust shares sold at 1os
to 1861
The general market did not show
any activity, and the bid and asked
prices, as a rule. were without mate
rial change.
Bouquet for Lincoln Bank.
A large basket of American beauty
roses was presented today to the Of
ficers. directors and employees Of the
Lincoln National Bank by George w.
Spier. jeweler, in recognition Of the
banks services during the last thirty
years.
In a letter which accompanied the
basket Mr.. Spier said he opened his
account with the bank July Is. 1890.
Since that time, according to Mr..
Spier, there has never been an error
in his account. The bank handled dur
ing this period more than $4,000
checks made out by Mr.. Spier.
Mr.. Spier said he could say many
complimentary things about the bank,
particularly the courtesy OF Its EN-.
ployes, but that he preferred to let
action speak, rather than words. and
Say it with flowers"