The Washington herald., 1921-02-09
SPECIAL MEETING
CALLED TO DISCUSS
NEW ASSESSMENT
District Bankers Assn to
Consider Recent Ac-
ton on Friday.
TRADING is BETTER
New Washington Gas Issues
Give Life to Local Mart.
Other Financial News.
TRADING is BETTER

The District Of Columbia Bank
ers' Association will hold a special
meeting on next Friday. February
II. at AIS in the New Willard HO-
tel for the purpose of discussing the
recent action of the tax assessor OF
the District in including the income
from Liberty bond holdings as earn
ings. Notice Of this was yesterday
served on all member banks by Sec
retary Harry V. Haynes.
Specific attention is being drawn
70 the fact that the meeting in qUes-
ton is not in the form Of a pro-
test, but simply for a conference
with Association Counsel Hogan and
for a discussion Of any steps which
the association may decide to take.
While leading bankers are un-
willing to advance an opinion on
the ultimate outcome, the feeling
exists that the advent of the Dis
trict association, a powerful organ
nation which has served them so
admirably in the past, lends con-
siderable weight to their side of the
argument
Incidentally, especial stress is
brought to bear on the act which
authorized the issuance of the vari-
Gus IOLANlOuS "ulGn SpGCAuCd44gu GA-
empted the income from certain
amounts Of bonds "on income from
an aggregate of $4,000 bonds" stat
ing specific exemptions regarding
other amounts
Local Securities.
The entrance of Washington Gas
IL per cent bonds into Washing
tons field Of investment yesterday
-gK
from their state Of dullness which,
judging by performances OF the past
week or so, appears to have become
chronic. This new security opened
at loOh, advanced to 1Ol, and then
reCeded to 100 on the closing sales
An aggregate of $500, face value,
was disposed Of. Two Washington
Railway general 6s Of $1,000 denom-
nation also figured in the trading
at 9Oit.
The stock list was comparatively
quiet. with only two issues being
rraded in. these being Capital TraC-
tion to the extent OF 27 shares at
N5, and 10 shares of the Security
Savings and Commercial Bank at
600.
Fund Called In.
National banks are in receipt OF
a notice from Secretary Houston call
ing for 40 per cent of the balance
Of the proceeds of January Is sale
OF certificates to be paid into mem
ber banks, which sum approximates
S5s,oOO,OOO.
A. I. b. Meetings.
The largest attendance Of the cal
endar year heard Norman P. Hayes,
assistant cashier Of Philadelphia
National Bank. address the element
ary class Of the local chapter, Amer
lean Institute of Banking, last
night.
On Thursday night F. J. Donohue
assistant instructor. Catholic Univer,
sity Of America, will address the
advanced class on Money" enter
ing upon a general discussion OF
the Federal Reserve Board and their
system
Haynes Returns.
Harry V. Haynes, president Of the
Farmers and Mechanics National
Bank of Georgetown. returned tc
this city on Monday night, after at
tending a hearing in New Jersey
necessitated by his automobile ac.
cident in that vicinity during last
September.
New Savings Directors.
Gratz Z. Dunkum, of the Metro
pOIitan Life Insurance Company
and John c. ". Beall. local at
torney. have been elected members
Of the board of trustees of tn,
East Washington Savings Bank, o
Washington. to fill the yacanCie!
caused by the deaths of DR.. Rich
ard A PyIes and DR.. Richard
Kingsman. according to adviCes re
Ceiyed yesterday.