Evening star., 1921-02-21
GAS NOTES ACTIVE;
ADVANCE TO 10O34
Buying Movement Is impress
sive-NeW Local Credit
Corporation Formed.
BY I. A. FLEMING.

Action in the 7k per cent notes OF
the Washington Gas Company was
decidedly lively on today's session or
khe local exchange. Note after note
of the $1,000 denomination sold, the
market absorbing them as fast as
offered until $4,000 had been pur-
chased and sold at 1909.
Thereafter four 81 900 notes sold at
1OOA, the top of the market since
the listing of the securities
1t was quite a strong demons'ra-
ton in favor of the collateral.
At the same time Washington Gas
A IS moved up sharply to a new hish
on this movement, selling at So;
There was scarcely anything DONG
in eae stock list, aside from the mah,
ing of quotations, and these sno"eu
but small changes .s
One sale of Capital irac'ion
recorded at IS.
The Columbia Credit Company.
The Columbia Credit is the latest
aspirant for public favor and business
in the District of Columbia
It is organized with an authorizes oeo
capital of $75O,0O0, offering o.oVo
shares of per cent preIerteSs nt s,ss
with one share of common at SlZ2;
John S Hord is it's president: VII
liam B. Westlake, vice president; nu-
dolph 3. Westlake, vice presldent' ~
son B. Miller, treasurer. All tne
officers are Washingtonians' iueAe'
& Donaldson are cOunSelorS-
1t is proposed to purchase lano
contracts, to advance funds to manu-
facturers and wholesalers, ana 10 ao-
vance money on accounts recelVaole.
The charter of the company en-
powers it to engage in any 10TH VI
general trade financing.
Aid to the time-payment plan OF
doing business is considered essential;
as the plan is generally recognized
as a modern way of doing business
Automobile financing will be one OF
the chief sources of profits to the
corporation; also the buying OF open
accounts from merchants generally.
The general offices of the corpora
tion are in Machinists building.
Tomorrow Will BE Holiday.
Tomorrow will be legal holiday
all over the nation and all gram.
cotton and security exchanges Will
March also will be a legal holi-
day in the District. banks, stock ex,
change and business generally Will
be suspended.
CHAPTER Dinner.
The annual dinner of the Wash
. ington Chapter of the American In
stitute of Banking is scheduled Tor
Saturday evening OF this week at
the New Willard.
These dinners are always enJoya.
BILE, as speechmaking is small part
of the program. Junior bank ofhcials
desiring to have one jolly good even
ing in social intercourse.
z. ]. McQuade is chairman of the
entertainment committee. he an
nounces that the program under his
charge will not be long. but of
high quality.
speaker at the dinner. Marie Sloen-
MUS Zendt. one of Chicago's favor1te
numbers, with Mrs. George o: Wal
son as accompanist, and the famous
.Chapter Quartet-Messrs. McQuade.
Pollock, waller and Dexter-wiil be
on hand for the evening. rna1, az ad5nd Sne or
After the dinner and at the con.
clusion of the program a dance VIII
be given Members and invited
guests will quite generally be ac-
companied by members OF their 1am-
lilies.
Practically all the senior bankers
of the city have been invited to at
tend the dinner.
stop for Dfgexti0n.
The New York bond market has
maintained a degree of activity that
has been remarkable. accompanied by
q strength that was out OF proportion
to the market for shares
Issue after issue of bonds. many of
them of foreign nations and more or
less celebrated foreign cities. have
been announced, books for their sale
opening and announcement OF sue
cessful sale made almost immediate
", meaning. as stated before. that a
syndicate of investment bankers had
subscribed for the entire outfit.
A block of Chilean bonds. highly
recommended, were offered last week
and taken nv syndicate. A DuDl1C
Offering followed. and the syndicate
was notified that it was the owner
of one-third of the bonds. while the
price in the open market was con-
siderably below the syndicate asking
figure.
This would seem to indicate that the
market needs time to handle the "un-
digested' securities. or that the rush
of investment money seeking place.
ment at to per cent was over.