Evening star., 1921-05-10
TREASURY CALLS
FOR S71,o)Q,0D0
Balance of March IS Certifi-
cate Proceeds and Part
of April 15-Notes.
BY I. A. FLEMING.


called. through the various regional
banks. for the payment by Thursday
of this week of the balance of the
proceeds of the sale OF Treasury GER
tificates dated March Is and for 1C
per cent Of the proceeds of the Apri
Is sale of certificates.
This is the first call made on the
April Is certificate sale. the bankers
having the entire amount $3.50. $500
for the better part of a month.
There still remained with the
banks about $52.0o0.o00 from the sale
of certificates dated March Is. which
plus the 10 per cent from April Il
certificate sale. will make the amour,
due to the Treasury payable Thurs
day $1,000, 900.
Local bankers report heavy with
drawals of currency for tax payments
but predict that the real taXpayinG
movement will not begin until early
in June. claiming that taxpayers
wait until the last day of the month
and then send in checks. which are
not presented for payment for sew
eral days. This applies especially TO
the big taxpayers.
Close With Surplus.
The dinner committee of the Dis
trict Bankers Association met last
evening and approved all vouchers,
etc, closing the affair with an ap-
proved audit and a small surplus
Meet Tonight.
The program committee of the Dis
trict Bankers Association 1921 con-
vention at White Sulphur. Va. will
meet tonight at the Liberty National
Bank This is the committee that
will have the greater part OF the work
to do. in assuring the success Of the
convention.
r. y. Harper. president of the asso-
ciation. is a member Of all subcom-
mittees. and with his usual attention
TO detail proposes to see that all ar
ranyements are completed before June
IL Mr. Harper Will be one of the
sneakers at the Virginia Bankers AS
sociation convention at Hot Springs
May l..
Want Excess Tax Removed.
The Bankers Magazine publishes
the result OF ouestionnaire sent to
representative banks in all parts of
the country asking the following ques-
tions:
|. Should the excess profits tax be
repealed?
: If so. what form of tax should
be substituted?
g. Do YOU favor sales tax? II so.
T. What modification. if any. should
be made in the income tax?
lightweight per cent of the banks
that responded to the Questionnaire
stated that they were in favor Of the
repeal of the excess profits tax. OF
repeal of the tax. a large number
thought that the law in regard to ex-.
cess profits should at least be modi-
fled. Most of the banks were en-
phatic in their opinion that the law
should be eliminated.
hnr,- half ~ hon
feel that some form Of sales tax
should be substituted for the excess
profits tax. The others either felt
that no tax at all should be sub
stituted or else that some form Of
tax other than the sales tax should
be considered. Many felt that strict
governmental economy and retrench-
ment would make il unnecessary to
make any substitution. Others felt
that the government should refnance
over longer term Of years and thus
reduce the annual taxation require
ments. Still others felt that . tariff
bill should Be enacted which would
produce sufficient revenue to make UP
for the repeal Of the excess profits tax.
Local Stocks Slow.
Todays total transactions on the local
exchange were decidedly light The
limited business indicated fairly steady
prices for the shares featured. but the
volume was scarcely worthy of mention.
Railway As sold at 81 Mergenthaler.
l@o. and Capital Traction. SS
Eisev'h.re quotation making was of
the perfunctory order
Call Money Market.
CaIl money was offered on the ioca,
exchange, on mixed New York or local
collateral. at 6l per cent. with borrow
srs reducing their bids to Ga per cent
No transactions.