Evening star., 1920-01-21
PERMITS FLOATING
OF ITALIAN BONDS
Treasury Authorizes Sale OF
$25, 600, 900 Worth-Pay
61-2 Per Cent Interest.

The United States Treasury De
partment has just authorized fota-
tion in As country of an issue OF
s25.o0O,0o0 Italian bonds, known a.
series A. and which is the first iE
stallment of "A complete issue OF
500 100000 worth.
The issue is underwritten by a
group of leading Italian banks. com
prising the Banca Commercials. Cred
ito Italiano. Banca di Napoli and
Banca Italiano di Sconto. The bonds
are dated February !. 1920, and ma
ture in five years They are issued
at par and bear interest at the rate
of 6Is per cent. and carry the con-
version privilege at maturity. by
which they may be paid either in col
lars or lire at the rate of seven 10
| the dollar. subject 10 the option q
the bondholder. tThe rate of eN-
| change at present is 1876 lire to tn
dollar.D
Run From $50 to s1.oeo.
The bonds are in denominations 90
| $50 500. $500 and $1,000, and VIII
| be sold through the 5000 or NOR
| Italian banks in the United StateS
| The Italian Discount and trust conl-
| pany in New York city VIII sell tue
+; bonds over the counter
| The aim is to reach the five or SLY
! million Italians in the United Sts stes
| who heretofore have been sendine te
Italy for deposit in Italian banks
| between eighty and one hundred
million dollars a year. instead or
this transfer of funds the italian gov
| ernment aims to establlsh IN hHls
country credits affected by the sub
| scription to these bonds and to maxi
purchases of American merchandise
! against these credits
| Experience has shown that the
italian immigrant prefers to send his
money to Italy for deposit in the
| savings bank there rather than 10
| invest in liberty bonds or other Sc
| curities in this country III is thought
therefore. that the interests OF the
| will not be affected by the sale OF
| these dollar bonds in the United
| States.
Bank Association Moves.
The Office of the national bank
section. American Bankers Assocla-
ton which has been located IN room
4 1. Southern building. since July !.
| isl9. has been moved TO the Mills
building, 18th and Pennsylvania ave
me. where rooms 406-407 will be oc-
| cupied.
| MerEenthaler Meeting.
Edward J. McQuade. treasurer Of
| the Liberty Savings Bank. returned
to the city this morning from rev
York. where he attended the monthiy
meeting of the Mergenthaler Linotype
ICompany. of which he is a director.
Mr.. McQuade said according to the
/ report for the first three months OF
the company's fiscal year. whicn
started in October. business was lars .
er than at any similar period in the
history of the company. lie said ais9 s'
that the new building being erected
at the plant would be completed and
ready for use by early spring,
Roads to Profit by New Mail Rate.
The deficit of the railroad admins
tration for the two years VIII be de-
creased approximately s60.0eo.ooo by
the Interstate Commerce decision ap-
tproving higher retroactive rates Tor
carriage of the mails. the railroad ad
ministration announces. 1t is esti-
mated that the railroad corporation
will profit at least 2o.ooe.os0 by this
decision.
Trading Lively.
Trading was extremely lively on
the Washington Stock Exchange to-
day. dealings in Riggs Realty nopgD
5 ger cent bonds and Washington
Gas IS featuring the transactions.
One $1,000 bond of the former sold at
Slk, and seventeen $1,000 bonds at
slA, while nine $1,000 per cent
bonds of the latter brought Nz.
81, 900 SIS sold at IS. Two $1,000
potomac Electric General per cent
bonds sold at 81, and after. cali two
$1,000 consolidated 5s OF the same
company sold at So.
There were FIVE lots OF l.anstol
Monotype, of twenty shares each. sold
at S4sl, s45s. S41s, S4ss and say re
spectively, the two last sales being
after call.
Linotype sold at 1884,, and a frac-
tionai lot of Columbia Graphaphone
common sold at 81
Two shares of Commercial National
Bank brought 179 after call.