Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-05
PALACE THEATER
AVAILABLE TO ABA.
Secured by District Bankers
for General Sessions.
Sterling Stronger.

r. y. Harper. president of the Dis
trict National Bank. announced today
that he has secnred Loew's Palace
Theater for the four general sessions
Of the American Bankers Association
convention, to be held in this city be-
ginning the week of October Is.
Officials of the latter organization
who have visited Washington in the
interest of convention preparations
have been especially anxious to
cure the auditorium mentioned. as
being the largest and best place for
the general meetings of the "onven-
ton, but by reason of the well known
Discrimination of the Loew manage
ment to disappoint any part of it's
amusement clientele it was deemed an
impossible task.
Efforts of committeeman charged
with the duty of securing, assent to
its use failed. but Mr. Harper took
the matter up and. citing the needs
of the city and a desire to hold the
general sessions in the morning, Sc
cured the valued concession.
This was the greatest of our trou-
bles,' said Mr.. Harper, land now we
feel that the tracks are clear and
that the coming convention Will be
the greatest ever.
The delegates to the convention
meeting in behalf of the District
bankers, the District government and
the national government.
Meeting places for the various sec
tons. national bank, trust company
and savings bank have been arranged
for. Each separate entertainment Will
be under the care of a chairman. and
| have no doubu that Washing
ton will long be remembered by the
A. E. A. for success of the 1920 con-
Vention.
Local Securities
The entire call passed today with
out single transaction IN local Sc
curties. After call a few shares of
Lanston brought II Is and small lot
of Washington Gas "A u.
Quotations do not indicate any rad
zeal changes in prices. but rather the
fact that buyers and sellers are apart
in their views.
New York Gas Rate, S1.2O.
The United States district court of
New York handed down a decision to
the effect that the 1916 gas rate law
was unconstitutional and that the
present rate was confiscatory. A new
rate was made of S1.2O per 1000 cubic
feet. an increase of As cents per 1000
feet.
All sums paid in in excess of the
present rate of so cents per 1000
CUBIC 1eeI are TO De turned over TO
special master until a final decree for
its distribution may be entered by the
United States Supreme Court
Bank of England Rate.
The Bank of England rate of dis
count remains at per cent. although
it was generally expected that it
would be advanced today to 71A per
cent. The fact that it remains the
same is taken to mean a better situa
ton on financial matters in England
and France.
Moreover, sterling exchange made
strong rally this morning moving
up points. Announcement was made
of 100000 gold import being due
on the S. S. Adriatic, due to arrive
tomorrow.
Indications point to a pressure of
grain bills as having more to do wit
the recent weakness in sterling than
the Polish situation.
Local Situation.
Business at the banks is quiet, save
for the demand for money, which
continues good. with bankers unable
to care for all requests, though GUS
toners inquiries are generally salts
fed.
Commercial paper is being offered
and finds a good market at s per cent
for the best names. with rates little
higher outside of the District. on less
favored makers.