Evening star. [volume] (Washington, D.C.) 1854-1972, 1921-04-13
LARGE PAYMENT
: DUE THE TREASURY
Call for $120, for
Friday-0utIook for FL
nance Corporation.
BY /. A. FLEMING.

The Secretary of the Treasury made
a heavy draft on the funds on de-
post in national banks to the credit
of the Treasury certificates sale Of
March Is issue.
This call will take s120.155,505 out
of the banks and is payable on Friday
of this week The March Is issue
was one of the largest of recent
series. aI1otments being made for
$481. S03, 900. the excess over $500. 000.-
900 representing the amount of the
subscriptions accepted over and above
the Offering.
Bankers have been favored in being
able to retain this large amount of
money. almost intact. up to Friday,
the first call being but per cent and
the second for 10 per cent. They have
employed the funds in various ways.
much of it being loaned on call where
1t is Immediately available.
The total Withdrawals. including
the payment to be made Friday. will
leave $2S1.296.330 still remaining with
the banks to the credit of the Treas
ury.
Another issue of certificates will be
forthcoming on Friday. but it will
probably be of limited amount to
meet the unredeemed certificates
maturing on the date named. but
Willingness to take up ten days ago.
West Is Awakening.
William c. RedfieId, formerly Sec
rotary of Commerce. has just returned
from an extended western trip in the
interest of the Foreign Trade Finance
Corporation. he being one of the or
sanization committee of that enter
prise. Mr.. Redfield declares that "the
central west is thoroughly alive to
the necessity for the formation Of the
Foreign Trade Finance Corporation"
and that 1.-The meetings of commercial
bodies, manufacturers and bankers
which he has addressed have mani
Tested the strongest interest in the
corporation. Leading men in every
community are impressed by the need
OF the corporation. So widespread is
TINS feeling that it amounts to a
crystallization of national sentiment"
With such reports it may be safely
predicted that the great institution
will soon be launched from the forma-
tive stage.
Local Trade Reports.
The fedreal reserve bulletin for
APRIL, referring to trade in this dis
u1ct has this to say: Eight reporting
wholesale grocery houses show a 22
per cent decline for February, prob
are but twenty-eight days in the
month. Eight hardware firms report
a 6.S per cent decrease. Marked in
creases in business were recorded by
eight dry goods firms. a like number
OF boot and shoe dealers and four
amounted to 14.4. II and 2464 per cent
respectively. AS compared with a year
ago decreases still show 14.5 per cent in
groceries and 52.3 per cent in furniture
The retail trade has shown consid-
cradle improvement, averaging So
per cent. the best Of any district
reporting.
Local Securities Firm.
Prices on all local securities in
days session Of the local stock ex-
change were decidedly firm. Changes
were more or less unimportant, but
In the direction of fractional upturns
Lanston added another n point to
1ts advance of yesterday. selling to
1S12 from an opening at rs
Bonds were quite active, with ~
per cent Washington Gas notes back
TO 1907, Railway As advancing from
% to 59h: Potomac Electric general
IS. "a, and the Consolidated SIS of the
same company selling at S4A
Wall street is waiting for a bunch
OF steel companies reports. The
Lackawanna Steel Company's report
Tor the first quarter is due today; Re-
public Steel and Iron will make it's re-
will bring the Steel Corporations
quarterly earnings.
The street was rather surprised at
the cut in the products of the Steel
Corporation. the first since the estab-
lishment OF prices by the Industrial
board in 1919 Independents advanced
prices materially in the boom of 1920,
but the big corporation made no
change. The street. however, expect
ed the cut but thought it would not
come for several days.
For the Treasury.
Great Britain will pay into the
Treasury s25.000.oO0 on the 18th in
slant, interest on the debt incurred on
the silver purchases for India Nav
Is another payment on the same ac-
count will give the Treasury ST.
600, 900.
So far this fiscal year the Treasury
shows a surplus of $1S2,s30. 900 over
expenditures.