Evening star., 1921-01-20
new BELGIAN LOAN
IS FOR $3Q,o)0,oDO
Will Bear 8 Per Cent Interest.
c. C. Glover Back From
England-News.
Bi 1. A. FLEMING.

BY 1. A. FLEMING.
Terms Of the new Belgian loau were
made public this morning by the un-
derwriting syndicate. The Offering to
the public will be announced imIne-
diately.
The loan will be secured by Il bond
issue Of $30,000.000 S per cent bonds.
Local investment bankers believe
the issue and that they will be taken
soon after the opening of the books
The onering was expected. accord
ing to reports for the last day or two.
through the easier tone in the BelS1an
IS. due to the expectation that the
received and acted on in advance or
the proposed new French loan.
Personal Mention.
Charles c. Glover. president 0? the
Riggs Bank, has returned from Eng
land and was at the bank this morn
ing. Reports OF the operation of the
institution were Sat3sfacforE. but
business claimed and received nut
little of his attention, the welcome
home extended by business apd per-
sonal friends being the chief occlipa-
tioa Of the day.
Feter A. Drury. president cf the
Me rcllants' Bank. will sail Sunday
from New York for Panama. where
he will make an inspection of sne
Panama canal Mr.. Drury is acctls-
toned to going south about this time
Of year for rest and recuperation.
Call. for $47.Go2,s7o.
Secretary Houston notified banks
holding proceeds of the most recent sale
of Treasury certificates of date January
Is. 1921, to pay into their respective
federal reserve banks IL per cent thereof
today.
AS the total sale Of the certificates
was s310,6s6.5oo. today's payment will
total $47, ,602,915.
Banks had barely five days use Of this
money and they were not expecting a
call this early.
Eank met today ana organized by the
election of the following officers: George
o. Watson, president: DR.. William Fl.
Robbins, vice president: Grant w. Tay-
lor, vice president: +. J. McQuade.
cashier, and j. B. Skinner and NJ. F.
Calnan. assistant cashiers.
Clearing House Association.
At the annual meeting of the Wash
ington Clearing House Association
president of the Second National Bank.
was reelected chairman. George star
key of the National Bank of Washing
ton and Clarence Corson of the Column
bia. National Bank were added to the
clearings committee.
Taking Form for Action.
The big Sl00.000,O00 foreign finance
corporation, backed by the american
Bankers Association. is rapidly ap-
preaching the formative stage. Gov.
Harding Of the Federal Reserve Board
has, been prominently mentioned for
president: Jerome Thralls, secretary
and treasurer OF the Discount Corpo-
10 IL
take the vice presidency, and Mr.. NC
Hugh, chairman Df the American
Bankers Associations committee of
organization, will be chairman Of the
boa rd Of directors. Fred 1. Kent, a
leading foreign exchange expert, has
agreed to serve in an advisory capac-
ity.
Money Easy-SterlinR strong.
Money is in abundant supply on
while sterling exchange advanced to
3.77M on the pound. being the high
est point EeaAhed since last July.
Lscai Securities.
The incfeAsed local demand for
bonds continues. $13,500. par value,
changing hands on today's session
of the local stock exchange. Prices
Washington Gas 5s at IS. Metro
politan Railway 5s at 90 and Po-
tomac General 6s at 9212.
Washington Railway preferred was
firm at sig. the relatively satisfac-
tory surplus after all charges and
the payment Of the preferred divi-
dend in, 1890, encouraging the belief
in the future maintenance OF the
dividend with regularity.
Capital Traction eased to So. at
which point support developed and
all offerings at that price were taken
with IS bid for more.
A sale of Federal National Bank
stock was made at 17s.
Fidelity and Deposit 60.
AT meeting of tho shareholders
of the Fidelity and Deposit Company
to the bylaws, made the
vice chairman of the board Of direc-
tors the real executive head of the
company.
This position has been held for
some time by Z. A. Hamilton. Frank
lin d. Roosevelt, recently a candidate
for the vice presidency Of the United
States, was chosen vice-prcsident
President Miller was Reelected.
The company closed the year with a
surplus and undivided profits of
$2036,5 ,529. after writing Off $5I1.s32
for depreciation in value of securi-
ties book values, etc.
Tho directors Of the National Saw
fngs and Trust Company have de-
clared the regular dividend OF On
per cent for the quarter, payabie
January "a.
The District of Columbia Paper
Company win pay the regular per
cent preferred dividend March 1. to
shareholders Of record February "a.