Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-07-30
T0PAY INTEREST ON
C|TY-SUbURbAN IS
Another Evidence of Better.
ment in Railway Company.
Monday Tax Payment.

Another evidence of the fact that
conditions with the Washington Rail-
way and Electric Company have been
greatly improved by the increased
fares is given in the announcements
made this morning OF the deposit by
the company with the Baltimore
Trust Company OF sum of money
sufficient to meet the interest on the
City and Suburban Railroad Com
pany's s1.700.000 first mortgage bonds
due August l. 1920.
1t viii he recalled that for the last
year the company took advantage of
"a three months period of grace in
making the semi-annual payments.
taking care of the matter just before
the expiration of grace days.
In all proba bility the directors of
the Washington Hallway and Electric
Company never had any idea of 4 de-
fault on the interest on City and
Suburban bonds. as the road is one of
The best in the combination.
Seeks to Collect Debt.
At a meeting of the directors of the
Washington Railway and Electric
committee was appointed. consisting
OF McSsrs Allies, Galliher. White
B.andenburg and Ham, TO endeavor
to collect the claim of the company
against the Virginia
Railway Company 1t is understood
that the latter corporation is indie ed
10 the former for S1S5.0O0 for current
The Washington-Virgin is still
using current. but is making daily
settlement therefor.
File Tax Schedules.
Those who have not filed their per-
sonal property and intangible property
tax schedules have today and tomorrow
to mail them to the assessor of the Dis
trict. while on Monday the schedules
may he delivered at the Office of the
assessor. District building, without in
curing penalty.
Failure to take advantage of the one
day of grace and TO file schedule before
the expiration thereof will result in the
lmpost of 20 per cent penalty.
Local Securities.
There was considerable activity on
todays session of the local stock ex-
change. Railway preferred made a new
high on this movement. touching 4Ih
Capital Traction sold at 81 and a
little Washington Gas at 43Is
There was more doing in bonds than
for several days. Traction IS brought
So, Potomac Consolidated IS were off
TO 81 Il. and the general IS of the same
company sold at 914.
should Adopt Early Closing.
Many bankers are urgently SUD-
porting the adoption of the early
closing hour for banks-that is. the
regular o'clock opening and 2
O'Clock closing hours, save on Sat
urdays and on pay days and the firsl
day thereafter. when hours would
be changed to give the army of gov
eminent employees a chance to do
business
There is small question as to the
views of the national bank officials
they seem to favor the change unani-
mously. Some of the trust companies
are in favor of the closinS-provided
1t is a complete cessatiSn of bust
ness with customers over the coun-
ter.
The greatest objection may come
from the savings banks. but there
could be no great loss OF business.
none at all. if $he banks would drop
their curtains at o'clock.
Chicago banks do it at > o'clock, our
time so do New York banks.
Cnanimity among Washington fnan-
cial institutions has never been much
in evidence. but some day the young
officials may bring it about
Bank of Isowie.
The Bank of Bowie. Prince Georges
county. AC-- OD-E!eI lot DUS-ISSS yes
terday. 1t is a state institution. cap
italized at $4,000, with a surplus of
$1,000 DIR. Nelson A Ryon IS presi-
dent; Edward Z. Perkins. vice presi-
dent. and William Luers. cashier.
Personal Mention.
William D. Hoover and Frank Stet-
son. president and trust officer. re-
spectively. of the National Savings
and Trust Company, returned to the
x.it-- loo PVT Cd
western business trip.
George o. Watson. president of the
Liberty Savings Bank. has gone to
Brant Lake in the Adirondacks with
Mrs. Watson for a months vacation.
VIII File Two Schedules.
District bankers have agreed TO file
two schedules of gross earnings with
the assessor. on the official form, and
the special form prepared under the
. advice of Counsel Hogan.
IL the special form alone has been
sent in. the bank or banks using it
viii not be penalized. but the banks
so doing will be asked to affix the
regular official form thereto.
In denying that banks are taxable
for interest on United States bonds
bank officials should also make the
same assertion regarding dividend on
federal reserve bank stock.
Some of the bankers this morning
are recalling the efforts made by fed
eral officials to induce the banks to
stand back of liberty bonds at the
time of the first issue.
A few refer 10 the assurance of the
controller of the currency in exacting
their support of the issues, that they
ire tax free. Also that when refer
ence was made to the tax on other
government bonds the controller said
''these are entirely different"
Some of the banks argue that they
have gone SO far with the agitation
OF the tax proposition that they should
now carry it TO a decision.