Evening star., 1921-04-30
TREASURY CALLS
FOR S}3,Q)0,0DD
To Be Paid on Tuesday.
Convention ProgTam-RaiI
Earnings for March.
BY ]. A. FLEMING.

T3N !. A. FLEMING.
Secretary Mellon has asked national
banks having proceeds of the March
l. sale of Treasury certificates to pay
in - per cent Of such funds by Tues
day "f nrAt week.
The net loss to the banks of the
country on this payment viii he about
ccrds of The sale remaining in the
banks TO about 500 0Go,O0o.
In, entire proceeds of the ccrtif-
i"It,. $.Ic OF April - remain in the
t..r,', to Ii.,. CI. dit 0G the Treasury.
i,,nkS h&Er not been accustomed to
Sucu IL inM. -" of the money at the
low iAt,r. 81 rate, , per cent. but they
welcome i i@s t@r same and realize
the lut, that if business were at nor
ID al h" J. ..,N drafts for the govern
m"nt would b" a serious ma .ttr
IN" .guG,r Iocal banks are allowed
to keep the certificate funds the less
serious the effect Of the tax with
draWals in the carly stages.
Hank of Damascus opens.
The Bank of damascus. Montgom-
cry county, Md. opened for business
this morning. ". Il. De LaShI.utt
cashier Of the United States savings
Bank, is president of the new in
StitGt ion.
He left Washington this morning
to h." present at tn" opening. and
took with him $3J. .U00 as the initial
deposit of local friends
Col. Cooper ON Duty.
Col Wade II. Cooper, president of
the Continental Trust Company. has
assumed his duties as head Of til,
company, and now divides his time
between three institutions. starting
with the United States Savings in III"
morniI.T. to thr Confidential to the
Union Savings, and repeating in the
Nathan Il. Scott is away on a much
needed vacation.
Convention PreIiminarics.
An enthusiastic meeting of the
members of the District Bankers
convention committee was held at
the stock exchange rooms. over forty
representatives. of local banks being
present. 1t was decided to leave
Washington at II o'clock Saturday
morning, June II. with luncheon on
the special train, arriving at White
Sulphur the same evening IN time
for dinner. returning TO Washington
Wednesday morning.
But two long business sessions VIII
be held. 50 that every one may have
the opportunity to enjoy the various
entertainment features to be pro-
vIGed. Dinner at Green Briar on Sat
Qrday evening after arrival.
W. W. Spaid is chairman of the en-
.tsrtainment committee, his recog-
nizcd position where entertainment is
to be provided. Victor Deyber will
look after ihe program. assisted by
some of the brightest banking talent.
and Joshua Evans. jr., will see that
du" publicity is given to the affair.
John Floyd Cissel will look after the
comfort of the bankers and their
guests on the train and at the hotel.
George O. Watson as general chair
man will, with their associates, make
il the greatest of the three conven-
tionS by the association.
on to Pinehurst.
George o. Watson. president of the
Liberty National Bank. will attend
the spring meeting of the executive
council of the American Bankers AS
soctation, of which he is member, at
rinenurst. He has assurances from
friends that the initiating of the call
money market on Monday will be
properly cared for.
Harry n. Mckee, president of the
National Capital Bank, will attend
the meeting, in his official capacity as
president Of the national bank sec
ton of the association.
Among other prominent delegates
who will attend the convention are.
Paul ". Warburg, Francis II. Sisson,
George +. Roberts, John M McHugh.
Richard S Hawes. Thomas B. McAdams,
John S. Drum and Frank w. Blair.
March Earnings.
New Haven showed a net operating
deficit for March of $4,000 and for
the year to March 81, A net operating
deficit of S3.39I,793.
Northern Pacific for March showed a
net operating income of S261.017, and
for the three months a net operating
dfcit of sS61,SS1.
Lehieh Valley for the first three
months of the year showed net
operating deficit of $1,365,212.
Seaboard Air Line for March, net
operating income. s301,450 for three
months net opera ting income. 1854
Denver and Rio Grande, March,
gross decreased, $+sS,s66; net oper-
ating income for March decreased
S190,S23.
baltimore and Ohio. MarchA gross
decreased. S544,399; balance after
taxes increased, s2.35o.S42; net op-
burlington. March. gross decreased
s142.597; balance after taxes in
creased, s2,002.164; net operating in
come. $l,901,056.
St. Paul; March gross deere decreased. Led.
5asnse rsf after oneratns 1axss de as
cit, increased s351.622.
Great Northern. March, gross de-
creased s650,33s: deficit after taxes
decreased. ss45.s42: net operating def
cit, decreased. s479.3l4.
Cleveland and Ohio, March. gross
decreased, S34S,Ss7: balance after
taxes Increased. $259,165: net oper-
ating income decreased, $1o7,472.
I.crai Securities.
Pathway common sold on today's
session OF the local exchange at 30.
Continental Trust Company, react
cd from the high of Thursday to 1o5
and later to 104.
city and Suburban 5s brought 65
and Netropoiitan 5s 90.
StncItg generally were quiet but
steady.