Evening star., 1921-11-12
TREASURY CALLS
FOR $3S,0)Q,0D0
'.ccount September IS FL
nancing-Maturities De-
cember Is.
ny L A. FLEMING.

Secretary Mellon this morning Cali
.d on banks having on deposit to the
sredit Of the Treasury Department 10
~ into their respective regional
hanks so per cent of the balance OF
such funds by the 18th instant.
This payment will call for about
s.S,000,000, and will leave COM
y,aratively small balance OF the pro-
leeds Of that sale In the banks anu
the proceeds Of the entire sale OF GER
,ificates of November /.
With this large credit available 1t
,s practically certain that the ireas-
ury will not do any additional puDlic
financing during the current mo mohen: IN
.urity of $401,557. 500 Treasury certln-
eates and the interest on the fourth
4 per cent liberty bonds. OF Wnicn
the original issue was $6,S5O,OO0.0Oo.
Interest on the first Ssss ana me tns
convertible. will be due and payable
November Is. This was the smallest OF
the liberty loans. $2,OOO,O00.
- Following his usual custom, Secre-
tary Mellon may couple with the De-
cember offering of certificates an
Offering o. three-year notes.
His test of the money market with
the November l offering must have
been eminently satisfactory, with the
tour-fold subscriptions even at the
tion, relatively, than for any pre-
vious issue.
Christmas Savings.
Add another s125.OO0 to the Christ
mas savings that will be distributed
early in December. making the total
amount s1.2s5.ooo that will very
olya hn CHI n
son that much better for the mer-
chants of Washington.
The Washington Mechanics Savings
Bank is responsible for the added ac-
cumulation.
Protection Of BondhOlders.
On February 3. 1921. the Washing
ton-Virginia Railway Company paid
interest on the March I. 1920. coupons
of the Washington. Alexandria and
Mount Vernon Railway Company's S
per cent bonds.
made. The continued default has
brought about a situation where it
seemed advisable to form a protective
committee to look after the interests
of the bondholders.
The WAshington-virginia railway
was organized through merger and
consolidation of the Washington,
Alexandria and Mount Vernon Rail-
way Company and the Washington
Arlington and Falls Church Railway
Company
A protective committee is being
formed to look after the interests Of
the bondholders of the latter COM
pany as well.
In asking for deposits Of bonds with
all unpaid coupons attached with the
committee, at the Office of the Penn
sylvania Company for the Insurance
Of Lives and Granting Annuities, SIT
Chestnut street, Philadelphia. the
committe states that it docs not
ginia Railway Company. the present
operating company. will be in funds
to make further interest payments in
the near future"
committee. having resigned from the
noteholders' protective committee to
look after the interest Of the bond
holders.
Other members Of the comm, COMMITTEES
Steele and William G. Baker. jr.
Local Securities.
Trading at todays session Of the local
stock exchange was rather light. not an
unusual happening on the final day of
the week. Potomac Refunding Is were
active to the extent Of $1,000 face value
at 103. with the 1924 bid and 103
asked as a closing.
Capital Traction shares were very
strong, with sale Of twenty-five shares
at S9%, the highest price reached dur
ing the year, the previous high being
S9s and the low for the year to date
S2A.
Railway preferred sold at 64 to 63Z
and Commercial Bank stock at 1864.
Next week the Mergenthaler annual
meeting will give the returns from the
business Of the company for the last f1s-
cal year. and may give some indication
as to the cause of the strength recently,
and predicted betterment above current
prices.
The Southern Railway Company has
asked the Interstate Commerce Commits
sion for authority to issue IS ,225, 900 de-
velopment and general mortgage gold
bonds, maturing April /, 1856.