Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-07
MAY ANNOUNCE
| L0ANESUE TODAY
Bankers Considering Prob
able Interest Rate Of
Treasury Certificates.

Some Of the usually best Informed
national bank officials anticipate the
announcement of an Issue of Treasury
certificates before the close Of the
day.
AS the sum was previously stated by
Secretary Houston, they expect a
$500.000.000 issue, and much interest
centers in the rate Of interest that
the government will pay on the Ger.
tificates.
1T is admitted that the Treasury Of
f1cials do not wish to pay s per cent.
the money market. with one-year
notes offered by some OF the largest
corporations on an per cent basis,
and with first trust notes on District
of Columbia property offered to in
yestors on an per cent basis. and
may be necessary for the government
to make the rate per cent.
II is possible for the Secretary to
split the issue into long and short
matprities and also provide for more
than one rate of interest.
On Uniforms Hours.
Attention is called to the fact thai
the National Capital Bank. National
Metropolitan, Farmers and Mechanics
ton and the American National Bank
have given the necessary directors
approval to the resolution Of the
Washington clearing house resolution
postponing the going into effect OF
proposed uniform hours for business,
$3.50 to PM, until June 9, 1921, and
that it Is necessary to secure the in.
dorsement of two more national banks
by the 9Th instant, otherwise the
original resolution will become eff
fective.
:. AS a matter Of fact. the resolution
as adopted by the boards Of the ma
tional banks named, does not post.
pone action on the entire matter, but
makes effective June 9, 1921, the hours
mentioned above. hence some banks
have not given approval thereto.
1t is probable that the needed APP
prevail will be obtained, as there are
fourteen national banks, on the clear
ing house roll of active members.
The McLachlan Banking Association
has become an associate member OF
the clearing house. clearing through Tho
Riggs National Bank.
Consider Entire System.
Federal reserve officials hold that.
in considering the weekly statements
, Of the twelve regional banks. con-
'sideration should be given to the
x
Of the system. rather than to the
reports of the individual institutions
Special reference is made to- the
report of the New York regional
bank last week when there wA5 .
loss of $36.000.000 in gold reserve,
a gain of $50, 900, 600 in hills discount.
ed and loss in. the reserve of per
cent, while the entire system lost but
81 900 600 gold. actual bill expansion
was S4200b. 900 and. reserve lost but
$40 Of per cent. The gold lost
by the New. York bank was shipped
to The interior.
Local Securities.
The feature Of today's session Of
the local Stock Exchange was the
sale of fifty shares OF American Ma
tional Bank stock in. lots of ten
shares each, the price being ITO Tor
the lot During the entire year to
date. but five shares OF this stock
has sappeared on the sales record OF
the Stock Exchange. The price wss
171-- go. $50.
Other transactions Included Cap
tai fraction at IS to 8sx and Rail-
way preferred at 53E-
Bonds were reasonably active. Po-
tomac Consolidated So selling At Ssh
and Railway IS at ssh.
Chapter Activities.
P.AM, GSfneft. 5feeeiving tellsr 1t
the Riggs National Bank. will address
the elementary class Of the waning
ton chapter this evening" on Duties
of a Receiving Teller"
w. J. Waller, cashier Of the Amert.
can National Bank and vice president
Of the chapter. will conduct the 'qufs.
ON Interest"