Evening star., 1921-02-02
DAWES MENTIONED
.I.OFOLL0W HARDING
H.Latter Accepts Presidency
Of Finance Corporation.
Liberties Are Stronger.
...u
By I. A. FLEMING.


that w. p G.. Harding, governor of
the Federal Reserve Board, will
eventually accept the position as the
head of the proposed Foreign Trade
Finance Corporation for which stock
subscriptions in substantial amounts
are now being received at the New
York headquarters of the corporation.
Gov. Harding is precluded from
making any announcement of his in
tent at this time because of the fact
that the corporation is in the form
ative stage, the work of raising the
needed capital, s100.000.000, now oc-
cupying the attention of the manage
'ment.
With the American Bankers Asso-
citation back of the project, with two
years of time and study given to the
pIans for the organization. there is
practically small chance that there
will be any failure to put through the
needed financing.
Interest even now is centered in the
probable successor of Gov Harding.
the supposition being strongly in
clined toward his acceptance of the
excellent offer made him by the COM
mittee on organization effective If
and when the corporation is organ
tzed.'
IL
tfoller of the currency, until recently
head of one of the largest trust COM
panieS in Chicago, a prominent ofh-
Ger with the A. +. +. in France and
a leading republican. is prominently
mentioned as the probable head of the
Federal Reserve Board.
Recently MIR. Dawes resigned his
position at the head of the Central
Trust Company, being succeeded by
Joseph E. Otis, his vice president.
This fact has further accentuated the
belief that he may be the successor
Of Gov. Harding.
Local Securities.
Local bonds were in fair demand
on today'S session of the local stock
exchange. with prices a shade firmer.
Metropolitan railroad SIS brought 80,
the same price that has prevailed for
many weeks. Likewise Washington
Gas 5s, at 16k, were without change.
Potomac Electric Consolidated 5s sold
at S01s.
- The Stock list was Slow. Light sales
were made at IS for Lanston and SAX
Tor Capital Traction.
- Lanston Dividend Declared.
Directors of the Lanston Monotype
Company have declared the regular
quarterly dividend of Y per cent
oH7the capital stock of the company
payable February % to shareholders
~of>-recoh February 49,
Reduction Not Likely.
.. IN view of the recent action of the
Federal Reserve Board in giving ap-
fsroval to the marking up of the dis
count rate on paper secured by
Treasury certificates, bankers do not
haAeve that the board will reduce
rates in the near future. whatever
ease may develop in the money mar
The enormous investments in for
gGn and domestic bonds during the
0enth OF January must have ab-
sorbed considerable portion of the
capital seeking reinvestment: indeed.
1he slackening trend in the general
'sond market of today would seem
TO fo.-confirm the belief
The hrmer tone in the money mar
kets reflects the end of and the be-
ginning of another months business.
ana to no small degree the continued
heavy Withdrawals of money by the
lTeasury in its present method of
certificates. refunding issue after issue
with other issues.
Liberties Higher.
Some issues of liberty bonds were
on as much as points from recent
highs. Yesterdays declines were 80
To- 6O cents on an average Reports
were to the effect that the Ford Motor
Company was liquidating it's govern
ment securities, but there was no
confirmation of the statement.
Today, however. the market is much
nrmer. Selling pressure has abated
and the demand has materially in
creased. The first AIS were up 30
cents second ANS. 26 cents, and the
ffGHrth f ANS. 46 cents higher
rr- Personal Mention,
Henry E. Ridenour and Effingham
L. Townsend have become connected
with the Washington Office of A. A.
Honsman & CO.. members Of the New
York Stock Exchange. Chicago Board
OF Trade and the New York Cotton
and Produce Exchange, with offices in
n. sse woodward building here, under
Tns ss.s management of c. 4 Alley. Mr..
ESdenour was for twenty years with
w. b. Hibbs & Co. and Mr.. Town
send was for twelve years with Pos,
&Flagg of New York and later with
Moerhead & Gilmore of this city. Roh.
eft Gilmore, formerly senior member
q the firm of Moorhead & Fillmore
tS-pow connected with the New YorL
office Of A. A Housman & Co. -