Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-22
TREASURY CALLS
FOR $5,o)0,0l)
BY I. A. FLEMING.

Local bankers having on deposit to
the credit Of the government, proceeds
Of the most recent sale of Treasury
certificates, that of December Is. were
surprised this morning when the
Treasury called for the payment into
the Richmond regional bank by to-
morrow of Is per cent of the amount,
This will withdraw from national
banks Of the nation a matter of SIS
100000, including several hundred
thousands of dollars from local insti-
buttons.
Bankers did not expect that the GER
tif1Cate deposit would be disturbed
until after the first of the year. as
they did not believe the Treasury had
any important maturities or obliga-
tons to care for before that time.
Just a week ago the great financial
movements OF December Is were sue
cessfully passed. and the bankers ex-
pected a few weeks Of freedom from
government financing. 1t seems that
the needs of the government were not
cared for by the payment of the
fourth installment of income taxes for
more than few days, with the pos
sibility that a smaller proportion Of
the certificates available for the pay
ment of taxes were held by taxpayers
than generally believed, or a much
smaller payment made on tax &C
counts than expected.
Plan Two ClearinEs.
Some members Of the Washing on
Clearing House Association are plan
ming for two daily sessions Of the
first. at o'clock in the morning, not
to be obligatory on the members, but
| merely an accommodation for the
members desiring to take advantage
of it.
| AT the first session there would be
an exchange Of checks that were
ready. chiefly of the afternoon and
late mail business of the day before
! with the debts and credits of each in
stitution transferred to the debts and
credits of the regular daily clearinSs
and settlements made as now.
The plan as contemplated is simply
! q speeding up of the clerical work
| as it would give the bookkeepers an
advantage Of an hour and more in the
handling of their checks. In addition
| it would be helpful in getting back
IN. CT" checks earlier.
In the regular clearings the bust.
ness would be almost entirely with
| out-of-town checks: Early clearings
would be held but five days a week.
Expect Call for December 81.
Bankers expect that the controller
OF the currency will issue call for re-
ports on condition OF banks for the
31st instant. They anticipate this date
because every year during the in
cumbency of the present controller
he has named this date, probably for
comparative purposes.
During his term the present con-
troller has asked for reports six times
annually, exceeding the requireme n ts
of the law, but acting within its
provisions.
Extra Dividend Declared.
Directors of the American Security
and Trust Company. at their regular
mNHfinT refi
the regular quarterly dividend of 3
per cent and an additional distribu=
ton of per cent, both payable jan
uary 10 to shareholders of record De-
cember. 81. Transfer from undivided
profits to surplus will be announced
The Seventh Street Savings Bank
will pay its regular semi-annual divi-
dend 3h per cent to shareholders of
record December 81.
The Washington. Baltimore and An
napolis Railroad Company is now con-
sidering plans for financing the needs
Of the corporation, which win include
acquisition and consolidation with the
Annapolis Short Line. and the funds for
the Improvement Of the Washington
terminal 1t fs expected that the COM
pany will require $4,000, 900.
Local Securities Slow.
Trading on the local stock .excha nge
tOudy W0S CObuuCu " Two BLOCKS, Mer.
genthaler. which sold to the extent of
157 shares at 1908. and I56 shares of
railway preferred at 501k. The first
named stock sold before and the other
after the regular call.
Prize Winners.
Riggs National Bank officials and en-
ployes are proud Of John p. Mallery a
worker in the ciearings section Of the
bank. and the prize winner in both the
elementary and advanced classes of the
Washington Chapter A. L. B., for the
year ended June 20, 1920. The prizes
were not distributed until last nirht
Mr.. MaIlery took both courses in one
year and is now, theoretically q banker,
He received SIS and SIS in gold from
e. J: Bell. The third prize was taken
by r. II. Cox Of the Commercial NJ"
tional Bank.