Evening star., 1921-10-08
TREASURY CALLS
: FOR S6Q,2OO,oDO
'ayment on Account of Cred.
its Established by Ger
tificate Sale-N0tes.
BY 1. A. FLEMING.

BY I. A. FLEMING.
Secretary Mellon made his first call
pn the credits established as a result
# the sale of Treasury certificates
nd three-year notes as of August IS,
skiing for 10 per cent payment on
Tuesday of next week. While the
|Sale of certificates totaled $69s,000.-
boo, actual credits established were
,ut s6O2,0O0.O0O. the balance of the
ssues being paid for by exchange
Ind in cash.
This call will mean a withdrawal
tf s60.200.000 from the banks on
Tuesday of next week. 1t is within
! he probabilities that no further use
Treasury will be needed to complete
The preliminaries for the retirement
bf certificates on October Is and the
payment of interest on the fourth 4 \
per cent liberty bonds.
1t may be that a repetition of the
eall for 10 per cent will be made on
Tuesday. payable next Thursday.
Bankers do not look for an issue of
Treasury certificates on the 10th in
Etant as the money market is ex-
remedy easy and will, in all prob
(,bility continue in that condition.
Local Securities.
Market for local securities continues
hccidedly slow. Capital Traction
Ehares brought S65s and s6a. Union
TRUST stock 119 and Washington Gas
ktock As.
Bonds were not featured in the
hays business, although prices were
decidedly strong.
Bank Elections.
At a meeting of directors of the
Bank of Commerce and Savings,
held Yesterday afternoon. the fol-
lowing officers were reelected for
hhe ensuing year: President, Mau-
bice D. Rosenberg; first vice presi-
Llent, Joseph Sanders; second vice
president, w. "A. Bennett; third vice
president Irwin Owings; secretary.
Joseph H. Milans; cashier. John NJ.
pwings; auditor. DR.. Clarence A.
Weaver, and Alexander Wolf was re-
tained as general counsel.
At the conclusion of the election.
Cashier Riordon briefly outlined the
progress enjoyed by the institution
i me deposits have continued on
STEADY rise until at present approx
imating S1,250,000, and was warmly
for the gratifying results
shown.
Position of the A. b. A.
The resolution committee of the
American Bankers Association pledg-
ed the organization as follows:
Repeal of the excess profits taxes
effective for the year 1921, and an
equitable adjustment of the revenue
system.
Opposed to the principles of the
American valuation plan in the pres
ent tariff measure, because of the
changes in administration required,
as well as the additional uncertainty
1t injeCtS into business.
Economy in government must be
carried out, approve the budget and
the legislative proposal
tending to inject further activities of
the government in business.
Opposed to tax exempt securities as
tending to remove capital from busi-
ness and opposes government issu-
ance of such tax exempt securities.
Against extension of postal savings,
as such extension cannot draw money
from boarding and tends to put the
into business.
Approves thrift.
Approves of the funding of the pub
lie debt as a sound economic policy.
Approves of the Ter Meulen plan of
internat tional credit organization.
The organization further urged fair
treatment for the railroads of the
country. and called attention to the
fact that the process of our economic
life could not proceed in an orderly
fashion when the wages of labor and
the prices of commodities are seri-
ously out of adjustment"
ne early payments to railroads of
the millions of dollars due them will
do more toward stimulating indus
try and lessening Unemployment than
Oh
take"
Personal Mention.
Howard Moran. vice president of
the American Security and Trust Com
pany. Will leave today for a few days
visit in Philadelphia. after which he
VIII go to Atlantic City for two
weeks.
Four Years Old To-day.
The Liberty National Bank is four
Years old today. Its active officials
'iecrge .. Watson, president. a men,
Ter of the executive council of the
american Bankers Association, and
Edward s McQuade, vice president
and cashier-are among the best
Known bank men of the city and both
enjoy a wide reputation elsewhere.
BEFORE changing its name to the
Liberty National Bank, the Liberty
Bank reached a fairly impor-
S@hI piaSS III lOCdl DdHklHE Dy SLOW
growth from a rather unpromisine
start, for the first days edposits four
years ago were but $11,917.
Since then the growth. while slow,
was steady. until it took out a charter
Under the national bank act, bought
= site and erected splendid home for
It's own exclusive use, a movement
that has brought prosperity and
reputation
The Liberty National led the way to
the northwest in the financial sec
tion and business is following that
way fast.
Four candles on the birthday cake
burn brightly today, but on Monday
the cake will be eaten.
Southern Railway Earnings.
Gross earnings of the Southern
railway system still continue to fall
behind those of last year at this
season. For the fourth week of Sep
tember the company reports gross
of Si,033,000, which is 1881, 900 less
than for the corresponding week last
year. For the eight months Of this