Evening star., 1921-02-15
WASHINGTON GAS
SECURITIES FIRM
=!
Bonds and Stock Higher.
Railway Preferred SIS.
Reserve Bank Notes.
BY 1. A FLEMING.

washington IdS SECURITIES ciediiy ~
featured the session of the local stock
exchange this morning. First the
Gas 5s advanced sharply to 1874, as
compared with 76h, the last previous
transaction; then the stock, which has
been selling around 3s. moved up
sharply to sSk, and before the session
ended a quotation lot, twenty-five
shares, sold at SO. The 71k per cent
notes then added Il of point to their
price. selling at 101A. 1t looked very
much as if the recent success of the
mole flotation had given strength to the
various securities of the corporation.
Railway Preferred Strong.
After Washington Gas. Washington
Railway preferred was the strongest
thing on the list, selling to So, new
high on this movement.
One thing might be inferred from
the action of the list today. and that
is that investors in the utilities men
toned have apparently no fears as
to the continuation of present rates
for service rendered after the ex-
piration of the present time limit.
Capital Traction shares sold at S4%
to IS and "a few shares of Mergen-
thaler at 121A.
February Is.
This was a reasonably busy day at
the banks. largely on account Of it's
being government pay day. There
were no Liberty coupons maturing.
no Treasury certificates to be re-
deemed, although the Secretary of
the Treasury called upon banks hav-
ing funds on deposit resulting from
the sale of January Is certificates to
nay in s3 la per cent of the balance
on hand by Thursday. This call will
take about $2s, ,000.o 900 from the banks.
All indications pointed to a large
oversubscription on the issue of $780,
100000 5h per cent Treasury certifi-
Gates offered today.
Personal Mention.
Charles ]. Bell. president Of the
American Security and Trust Com
pany. will leave tomorrow evening
where he will enjoy his favorite sport
1angling.
Must Have Statements.
The Richmond federal reserve bank
is after member banks who send
strictly commercial paper without a
statement Of the condition Of the bor-
ro~ers under date this year. The
bank made it plain some time ago
that 1t would not discount paper on
1920 statements. but that new show
ing would have to be made by bor-
rowers on present-day inventories,
paper that has been rediscounted by
reason Of a promised statement will
be returned to the sending bank.
New statements of January 1, 1921,
are desired. or later, with latest in
Ventory. which must be made during
the current year.
' Announcement is also made to the
effect that all banks penalixed for be-
. ing below legal requirements in re-
serve will be reported to the con-
troller OF the currency and the Fed
eral Reserve Board.
Stock Certificates Ready. aa>
Engraved certificates have been pre-
pared for banks holding stock in the
Richmond Federal Reserve Bank, in
exchange for temporary receipts
which are given for subscriptions.
They are dated December 81, 1920, and
for additional adjustment of capital
separate certificates will be issued.
InjunetioA In Force.
Thirteen non-member banks in
South Carolina have enjoined the Fed
seral Reserve Bank Of Richmond from
returning as dishonored checks where
refusal to pay such checks over the
counter in cash Is made. The re-
straining order is dated February S
ard will be in force until dissolved,
as the bank will move Immediately
in that direction. Pinehurst is the
most important point on the list.
Many prominent North Carolina
banks have notified the reserve bank
that they will continue to care for
their items as usual when presented
through the collection system of the
federal reserve banks,@s 81