Evening star., 1921-05-16
TO RECOVER BONDS
IN FIGHTERS NAMES
Controller Crissenger Seeks
lnformation-Busy Day at
Bank-MeWs Notes.
UY I. 4. FLEMING.

Controller of the Currency triSSlUCcr
has sent ont a special form to all ma
tional banks relating to holdings of
liberty bonds by banks for tho account
of men in the Army and Navy. upon
which only partial payment has bacn
made.
there are 4 large number Of such bonds
still on the books Of hanks possibly
some have been closed out. after notice
to take UP, and it - also prohablr mat
considerable amount of liberty bond :
so hold !..lon@ t. estates Of soldiers
that is. 50 fer a,; ~. equity IN tn. s.
CurIty is concerned.
Responses L. The call or the Trcpa red
forms viii furnish The needed iufrrr};t-
ton and pay" tie way for n fiHal set
t.emCnt Of the matter.
Hoth the Army and Navy made I.bc--
al responses 70 the pleas, for the p1Ir-
chase liberty bonds during the VarI-
Gus campaigns, ana il is but right that
any equity in bank holdju%s to the
Creclt OF soldier or his estate shouted
be properly distributed.
The banks would not have it other
wise.
Local Securities.
Local securities We're ahout as dun
rs usual the daily tcdjun being re
lIeved by the sale Of $4,000 Railway
- III $1,000 lots. at ii. making q d
CldcGlN firm tone on this isgltr
y $1,000 note. II, pcr cc-t. of the
Washington Gas Company brought
1o1 L.
With the exception OF a sale Of
Capital TTaCtio0 shares At S this
was ali Of thc business ~ thr s-rsiun
The record OF loans. or rather OF no
loans. on the local call money market
remains unbrnksn. Local bankers
seem to have fixed and irHmovabi
price for their money when Offering it
on call. ! per cent being continuous
" asked
Brokers are Indifferent to local of
foringS Of money and continue 10 bid
81 per cent. the rates being so far
apart that there is no change of ac-
ton.
Big Day at Banks.
business at the banks today was
very heavy. Various institUr ions were
crowded with holders Of liberty
bonds caShing T2atu~rd coupons, with
Eovernme employees making de-
posts and with people arranging for
tax payments.
Much shifting of cash was going
on incident TO the redemption OF
Treasury certificates and H.. pa yrnant
on account of Treasury certificates
purchased
The public is gradually being edu-
Gated to the safety and the value Of
these certificates rs = temporary and
more or less permanent investment
with much better than tn" going rate
of interest
1t is hardly probable that bank de-
posts the country over viii show
much increase until the govern nmeut
finds some other way Of financing its
needs 1t Will be recalled that Mr..
Reynolds. the Chicago banker, in his
address here, referred % the serious
withdrawal of deposits that his in
Stitution noted with each successive
Treasury certificate issue.
The Cost of the War.
Ernest L. Bogart- professor of eco
nonics in the university. has computed
to his own satisfaction the cost of
the world war. Prof. Rogart was
formerly trade adviser to the State
Department here. and Is an authority
on economic matters.
He has just finished War Costs and
Their Financing" in which he places
the cost of the late struggle at s20s,-
305,S51 ,222, s145,287.s90,623 being
chargable to the allies anG but S63,-
01S.160,S00 to the central empires.
The United States is credited with
an expenditure of s22,0So. .266, ,96S-and
the end is not for the interest charges
continue to accumulate.
An Important Movement.
The Federal Reserve Board has
made it plain that regional banks
may purchase six months aCeptances
N the open market This is an i'm
portant step in aid of foreign trade
Banking practice has been to issue
six months acceptances, hold them
sixty days when they become eligi-
bic under the ninety-day ruling, this
being the practical limit Of reserve
banks purchases.
With tho six months rule working
there should be considerable in
crease in accptance3 offered and in
tho volume OF the reserve systeTn's
buying
England Again Paying.
Great Britain is turning over s17,-
$4,000 to tho government today, re-
paying the Special loan made when
the Pittnnan act permitted the s-,ie
OF silver bullion $25,e2o.00o on the
same account was paid in April