The Washington herald., 1921-06-08
STOCKHOLDERSOF OF
fafss
FREINSURANCECO.
VOTE TOLIQUIDATE
Arlington Directors Meet
Next Monday to Fur
ther Decision.
NEW LOAN ASKED
Mellon Announces Flotation of
s-Year 5A9o Notes and l.
Year $40 Certificates.

Al q meeting of stockholders OF
tn. Arlington Fire Insurance com
p.ny, held yesterday. 1t was faVbr-
ably voted by the 1.4oo odd ballots
to liauidate.
Tn. next move in the matter will
n. . meeting Of directors to be
held one week from yesterday to
take ND all details pertaining to a
dissolution Of the company and for
a distribute no fsssets, principally
in the form Of bonds. which will
have 10 be reduced to cash The
court will also be petitioned to
appoint a temporary receiver.
The Arlington Fire Insurance
company has been inactive for
about i've years. and all policies
nave expired. Ohicials of the com
pany say liquidation will be en-
tireiy completed in about two
months and estimate that stock
holders will receive about sl0.5O on
their holdings
ssIlftt Named Bank onciaL
Ralph v. SoIlitt, assistant to
Postmaster General Hays and for
merly connected with the repuo-
lican national committee, was
elected a vice president of the Nun
sey Trust company at a meeting
the directors held yesterday after-
noon
II Is reported that Mr.. Sollitt will
devote his entire attention to the
banks Affairs.
Local Securities
Trading in Washington secur-
titles was comparatively light on
the local exchange yesterday. But
one sale was made in the regular
period. five shares of MergenthaleI
at lls.
Ten shares of Washington Gas
stock was disposed of after call at
42L,a 20 shares Of Capital Traction
at sTA, and $1,000 5 per cent bond
q fthe Capital Traction company al
ST+.
Call money was offered on the
local exchange at per cent. while
the New York rate remained at ~
per cent all day. No money trans
actions were made.
New Treasury Offering.
Pursuant to the program announc-
ed BY Secretary Of the Treasury Mel
lon recently in d letter dated April
so, 1921, to the chairman of the COM
mittee on ways and means, the
treasury is announcing today a COM
bined offering of three-year 5@4 per
cent treasury notes, dated June 10,
1891. due June Is. 1924. and one
year 5Is per cent treasury certif-
Gates of Indebtedness, dated June
Is, 1921, due June Is, 1922. The
h. 70
OOO, 900, or Whereabouts The treas
ury notes thus offered will be
straight three-year notes. designat-
ed treasury notes of series A-1s24;
will not be subject to call for re-
demption before maturity, and will
be acceptable in payment of income
and profit taxes payable at or with
in six months before maturity. The
notes are exempt from the normal
federal income tax and the corpora
tion income tax and from all state
and local taxation Except estate
and inheritance taxes), but not from
federal income surtaxes or profits
taxes The treasury certificates Will
be tax certificates, designated series
T J-1922, and will be acceptable in
payment of income and profits tax
es payable at maturity. Dehnitive
notes and certificates will, it is eX-
peeted. be available for delivery on
or about June Is, but wherever nee
essary federal reserve banks will
be prepared to issue interim re-
ceipts pending delivery Of the de-
fnitive securities.
Applicants for the notes and GER
tificates will be received in regular
course through the several federal
reserve banks. as fiscal agents Of
the United States. from which full
particulars concerning the offering
may be obtained. Banking institu-
tions which are duly qualified as
special depositaries of public moneys
will be permitted to make payment
by credit upon the usual terms for
notes and certificates allotted to
them for themselves and their GUS
TONERS. Treasury certificates of in
debtedness OF the series which ma
ture on June Is. 1921. July Is. 1921
and Angus. is. 1921, will be accepted
at par with an adjustment of ac-
crued interest in payment for any
notes or certificates of the series
now offered which may he sup
scrfhed for and allotted.
Statement by Secretary Mellon.
Secretary Mellon announced that
he has authorized the federal re-
serve banks on and after Wednes-
day, June s. 1921. and until further
notice. to redeem in cash before
June Is, 1921. at the holders option,
at par and accrued interest to the
date OF such optional redemption
Treasury certificates Of indebted
ness OF Series T-J-1921, dated June
Is. 1920. maturing June Is, 1921, and
Series T-J-2-1921, dated December
IS, 1920. maturing June Is. 1921.