Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-17
BANKERS BUYERS
!. OF CERTIFICATES
Find Difficulty In Placing
| Money Therefor Out on
CaI-Dividends.

In the opinion of local bankers the
percentage of the recent sale of $780,
OOO,, geo Treasury certificates taken
by the investing public was relatively
smaller than like purchases of pre-
vious issues. This means that the
banks took the great bulk Of the
December Is issue.
AS a general proposition bankers
subscribing for government issues
York until the Treasury Department
calls for payment on certificates.
But Wall street doesn'tN require
much money these days and some To-
cal banks have been unable to get
their funds there to working-that
is. at anything better than the regu-
lar rate that the banks pay on de-
posts of outside institutions. Loans
at per cent and then at per cent
were made there yesterday, but there
was very little demand for accom-
modations, indicating the neglected
condition in which the stock market
IS at the present time-bare of inn
portant buying.
In the easier trend of interest rates
is also evidenced the fact that money
IS more plentiful in banks and that
there Is at this time small trouble in
obtaining loans for legitimate busi-
ness demands. while tho demand has
materially fallen of because Of the
moderate character of the buying
movement on the part of merchants.
A decrease of s271.0oo.oOo in COM
tnercial loans was reported during
mercial banks throughout tho coun-
Try, while loans on stocks and bonds
decreased $37.500,000 and loans on
war paper fell OF $10.200.000. These
are figures that substantiate state
ments made above.
Real estate mort y,nnev n afil1
scarce, for the reason that trust COM
pany officials are not disposed to &C
cept the valuations of the day on
properties.
Flashes From New York.
Westinghouse declared the regular
quarterly dividend of $1.75. payable
January l to shareholders of record
December 81.
Wilson & Co. declared / :. per cent
dividend, regular. payable January .
TO stockholders of record December
81.
Trumbun Steel Co. declared An e3-
fra dividend Of IL u cents. Brier Hill
share on common and $1.75 on pre-
ferred.
Northern Pacific declared the regu-
lar preferred dividend.
Goodrich Company declared regular
quarterly dividend Of $3.50 q share
on common for the first quarter of
1921. 1t is likely that the rate will be
continued.
Standard Oil Company Of New York
for the six months ending June 20.
1890. showed net earnings. after de-
probation and federal taxes, OF $685.
194,S76. equal to $34.92 a share on the
capital stock of $7b.00o,000.
International Paper will show earn
ings for 1920 equal to those of 1919 or
sI324 a share, after taxes and pre-
ferred dividend.
Crane & Co, one Of Chicago's oldest
corporations has declared 200 per cent
stock dividend and cash bonus Of
So, 200. 600 among its employees
The par value of the stock divided
is s27,061, 900. ~.
: Local Securities.
Railway IS to the aggregate Of ST.
600 face value. were bought and sold
on the local stock exchange this
The bonds seem to be re-
mark bly, steady at that price, but
throughout the list there
were evidences of a reactionary trend, |
but not accom- panied with any espe-
cial pressure to sell |
Railway preferred. possibly as a re-
suit of the agitation Tor moro fare !
and the fight against it, with develop |
rlents in the arguments. was weak, |
selling OF to 81, with sales Of 131
Washington Gas. slow at 20 to 4oN.
WAS weak at 100. Lam
ston offered II 50.