Evening star., 1921-08-23
BANK DEPOSITS ARE
HOLDING STEADILY
Officials Are Surprised at the
Slight Decreases Shown.
Bonds Active.
BY /. A. FLEMING.

Bankers express surprise that their
deposits are holding up as well as
they do. With the large crowd of va
cationists absent from the city, spend
ing. not saving money. and the big
pay roll, expectations were that there
would be a large reduction. but the
contrary has proved the rule.
i, Where there have been decreases in
deposits the loss has not been import
ant
There is more than enough money to
care for all demands and there have
been incidents in the last ten days OF
interest rates on some important loans
being marked down from to per
cent. =,
The steady holding of deposits is all
the more marked as bankers very
generally report the investment oper-
ations of their depositors as being oe-
cidedly important. leading TO heaVy
Withdrawals of funds.
They still find the trend of invest
ment toward the Treasury certihcates;
with safety. and toward the ana .
per cent investments which may pc
selected without much effort from the
bond list of the New York and local
markets.
The utter indifference to the nu-
merous low-priced so-called bargain
Stocks" on the New York stock Ex-
change list shown for the last rev
months still exists and will until the
s,.ars of recent losses of punishins
character have been wiped out.
The public has never been so thor
oushly eliminated from Wall street
as at the present time. nor does the
promise of bargains appeal with SUI
1icient strength to induce return.
Local Securitiea.
Bonds were decidedly the favorite
on today's session of the local stock
exchange. with a good demand meet
Ding sufficient offerings to result In
total trades of $4,000 bonds, race
value.
Values were strong and steady. at
So tor Potomac General Mortgage 6s,
s. for the Consolidated IS of the same
company, "a for Washington Rail
way and Electric General IS. and "a
1ur Washington Gas IS. y aShi:fstoli
Gas -. per cent notes brought lt"! a
material improvement from the last
previous sales
The stock list was slow and with
OUT feature. Quotations did not indl-
cate any changes Of importance
Personal Mention.
After an absence of six weeks. y.
Robert ElElore, associated Win me
Washington Office of A. \. Housman q;
Co. has returned from feru' Soutti
America.
MIR. Ei.nore was designa ted by Presi-
G.nt Harding as secretary OF the spe-
cal diplomatic mission OF the United
States to attend the centennial OF
Peruvian Independence. The other
l.asSador Albert Douglas, Admirai
Hugh Rodran. Maj Gen. Hunter Llg-
l.tr. William Boyce Thompson. DR..
William &. Farabee and hr. William
H>iuke.
The mission sailed from New York
or July on the battleships L. 5. s.
Arizona. Oklahoma and Nevada Ior
Lima. Peru. where they remained our
ing the two weeks celebration OF 'hs
Centennial as guests OF the govern :
ment OF Peru and returned to this
country on the batt3eships Wyoming 9
and Arkansas arriving in New York
on Friday. August 10. --~-~
Calls for Payment.
Secretary Mellon this morning call.
ed for per cent of the balance OF
rhe credits held by national panks
resulting from the sale of Treasury
certificates. August 1. This VIII mean
a matter of about $12.0O0.000. The
banks have ample funds and are not
being bothered with the demands OF
borrowers these days. although they
the coming of September and October.
New Bond Issue.
A syndicate headed by Tucker An
thony & Co. of New York, Robert Car
rett & Sons of Baltimore and Brooke.
Stokes & Co of Philadelphia is offer
ing this morning an issue of Sl.40l 900
Utah l. ght and Traction Company 3
per cent first mortgage collateral
bonds. due 1884. al s9i.. to yield over
50 per cent
The bonds replace an underlying
issue which matured July l. ard will
be a first mortgage. through col
lateral, on electric power and light
and street railway properties in Salt
Lake city and vicinity, consevatively
valued at well over s1O.000.900. and a
lien subject to S1,s65,000 bonds on
other valuable hydro-electric and gas
properties of the system.
The bonds will be guaranteed. as to
both principal and interest, by in
dorsement. by the Utah Power and
Light Comany, parent company of the
Utah Light and Traction Company.
They will be secured by the deposit
OF an equal principal amount of Utah
Light and Railway per cent con-