The Washington herald., 1921-12-09
TREASURY FAILS
TO ANNOUNCE new
CERTIFICATE issue
ID. c. Bankers Believe the
Next Obligation Will
Bear Lower Rates.
OTHER LOCAL NOTES
wilkins Company and South
eastern Express Declare
Dividends.

On December Is tax certificates
OF Indebtedness amounting to $4O1.-
SoI,5OO bearing per cent interest,
VIII mature. At the present time
the government has a total of 81
sTI'6o3.20O certificates of indebted
ness and short term notes out
standing.
Contrary to general belief, no
announcement relative to the eX-
pected December Is issue, was
forthcoming from the Treasury
Yesterday. Officials there say a
statement will be made within the
next few days However, Wash
ington fnanciers expect the Treas
ury Will announce within the next
week an Offering of certificates of
indebtedness bearing interest at
the rate of per cent. The last
z previous Issue bore IA and 1-2
per cent interest rates. No official
confirmation of this rumor can be
obtained. but such an issue is re-
garded as entirely possible. The
present market seems to warrant
a low rate. bankers argue. mas
much as an issue due June Is is
now selling to yield 4.O3 per cent in
IN open market. the trend of the
yield being downward.
II is the consensus OF opinion
among representative bankers
here that IL Secretary Mellon de-
cldes on per cent issue run
ming six months. there will prob
ably be no trouble in placing the
issue without any lower rediscount
rate II II has been decided to
Issue twelve months certificates
bearing 4 per cent rate it would
Indicate a lower rediscount rate
At present the market rate To-
twelve months certificates IL
slightly above 4.25 per cent.
Three-year Treasury notes are
now selling to yield approximately
40 per cent in the open market
In view OF this fact, II is believed
that II an issue of these notes is
offered December Is. the yield will
moi be more than "a and might
be less.
John II. wilkins Dividend.
At the regular monthly meeting
OF directors of the John II. wilkins
Company. held last Tuesday, the
usual semiannual dividend of per
cent on the common stock. and 4
per cent on all outstanding pre-
ferred stock, was declared.
The dividends are payable Mon
day, January .. to all stockholders
OF record December 20. the stock
transfer books remaining closed
from that date until January .. 1929.
Southeastern Express Dividend.
The board OF directors OF the
Southeastern Express Company. at
a meeting held in Atlanta Tuesday.
declared a dividend OF 4.6i per cent
on the capital stock. The disburse-
ment will be paid from the net in
Of he
months period from May l to De-
cember 81. 1921.
This dividend. which Is at the
rate OF per cent annually, Is pay
able Monday. January 2. to stock
holders OF record at the close OF
business December 10. 1921.
Announcement was also made
that the annual meeting OF stock
holders will be held in Birming-
ham. Ala, on January IS. next.
Novel Christmas Club.
Van Strum. Scott and Company
are announcing an innovation In the
line Of Christmas Savings Club.
which consists OF theory so timed
ss to disburse accrued interest and
dividends. on listed securities. In
time for the Christmas shopping.
Local Securities.
Washington Gas SIS featured ,on
the washington Stock Exchange at
the session yesterday. seven sales,
aggregating $4,000. being made
at 81.
One share Of Washington Railway
preferred sold at 81 4. after which
two ten-share sales OF Commercial
National Bank stock were put
through. the price secured being
1851. Eight shares Of District Ma
tional Bank stock brought I6S.
Following call, Mergenthaler was
traded in to the extent OF fourteen
shares, the price being 1919. a
fractional drop from that of yes
terday.
Call loans were offered at per
cent. with per cent bid.