Evening star., 1922-02-01
TREASURY NOTES
! GREAT SUCCESS:
Estimate on Local Applica-
tions Indicates Heavy
Oversubscription.

In this city for the Offering of $780,
100000 of three-year 4A per cent
United States Treasury notes at par.
indicates a heavy oversubscription
for them. The date of payment of
the notes is today. but said payment
really means placing credit to the
United States government on the
books of member banks, the credit
to be reduced subsequently by the
government deposit Withdrawals.
Opportunity was also given TO con-
vert outstanding "A s into the notes
which would be an extension OF ma
turity at the present interest rate
and be advantageous to their holders
The maximum for the conversions
and the cash subscriptions 70 new
notes is set at S600.00o.ooo- by ths
sum that the conversions eAceeu
S200.00O,0O0 the amount OF fresh noaes ,no
allotted will be reduced below s4o''
100000.
Riggs Officials In Wreck.
Little else has been talked of in the
Riggs National Bank for the past TWO
days but the Knickerbocker Theater
disaster Several officials and EN-
nIoyes were in the building at the
time the roof caved in, and many ue
positors of the bank were lost IN the
catastrophe.
Young John NJ. Jeffries. who lost ms
life, was but recently appointed
director of the Hamilton Bank. a
subsidiary to the Rfggs: Iiss H,s VAS s'stss also
among those killed. Both We're the
children of Louis Jeffries. vice pres
ident and general counsel OF tne
Southern Railway Company, who Is
a director in the Riggs Natlona'
Bank
Col, c. r. Vance of Fredericksburg
Va, who was killed, was an old busi,
ness associate of the Riggs Bank ana
it was through the Planters Bank OF
the southern city, or whlcn ne "as
president, that that Washington bank
did much of its Virginia business
Young Herbert Thompson. employed
in the bookkeeping department OF
the bank. was in the theater al the
time of the disaster. and was one OF
the first to get out of the building. lie
was practically stripped of al ms
clothing when he left the building
and was attired in an entirely ne"
outfit when he returned to duty Mon
day morning.
what occurred. He eXtricated him
self from the debris and started &c
leave the 18th street entrance 10 the
theater, when. he says. he was ORDER
ed back by a soldier at the door. kush-
ing to another outlet. he brushed by a
ing new clothing. returned TO the
buildfng. but this time was not allow
ed to enter. =, II
Thompson of the Marine Corps, VINO
was among the first TO tnihk OIL caAi-
ing out the marines. -
Mrs, James GowanS, mother-ln-la W
of Milton f. Allies, president or .he
bank, had started from nome Win mel
daughter to attend the performance
but owing to her advanced aye anu
weather conditions was forced to
abandon her trip.
II was the inclement weather that
nreyented the family of George Fass
vice president of the bank. from at
tending the performances IL had oes!
decided at a dinner party gwen pS
Mr.. Vass that night that the party al
tend the Knickerbocker, but after
wraps had been secured the women
of the company thought the 'biZzaro
TOO fierce to risk the trip to the snow
house.
Mrs. Clyde NJ. Gearhart. another VIC
tim of the disaster. came from the
same town in Ohio from when freSl-
dent Allies did and was lifelong
friend OF the head of the Riggs Bank
Dividend Declared.
At the semi-annual meeting of the
board of directors of the Fidelity saw
ines Company. Inc. the Morris plan
hank of Washington" the quarterly
dividend of 11a per centum was de-
cIared payable February l.
Bankers' Association Plans.
Elliott H Goodwin, resident vice
president of the Chamber of Com
merce of the United States. will be
the principal speaker at the neX'
meeting of the organiza tion. sched J.
uIed to be held at the Cosmos Cub
February II. according to announce
mont made bv John Il. Larner. presi
dent, yesterday.
Mr.. Goodwin will address his au-
dience on "The Chamber of Commerce
of the United States" after which. the
customary discussion Will be heid. 10
be follow ed by the serving of refresh
mentS.
To Make Promotions.
Owine to the resignation of Charles
y F,tzier, receiving teller of the Ma
tional Metropolitan Bank, who. is TO
become cashier of the Anacostla
Bank, a series of promotions In the
first-named institution has become
necessary. a,~ these will be an
nounced shortly.
Mr.. Etzler is slated to succeed Ray
mond F. Hunt. who recently re-
signed from the Anacostla Bank 10
accept the presidency of the Farmers
and Merchants Saving Bank now be-
ing organized in Anacostia. His reslg-
Essay Contest Rules.
w. J.. Waller. president of the
Washington Chapter. American 1nstl-
tute Banking. yesterday called at
tentiou to the fact that manuscripts
being prepared for the essay con-
test offered by the District Bankers
Association must be submitted to the
Judges by April l. They are limited
to 5000 words.
To Attend Advertisers' Meeting.
A. c. Flather, manager of the new
business department of the American
Security and Trust Company. will
leave for Chicago this week. where
he will attend meeting of the
Financial Advertisers Association. of
which he is one of the directors.
Seven banks of Washington are now
members of the association and Mr..
Elather is circularizing the other
local institutions, pointing out the
advantages of membership.
Georgetown Gas Light.
The Georgetown Gas Light Com
pany was operated at a profit of
s3,2O1.29 during the month of De-
ceraber. 1921. according to reports
received by the Public Utilities Com
mission yesterday. This compares
with a deficit of s4.272Os for the
corresponding period one year aso.
and with profit of sS,S7S.S1 in No
vember. 1921.
The operating revenue for the pc
riod in question amounted to $685.
911.56, with operating expenses to-
teling s2S.123.47. leaving total net
revenue of $7.7SS.07. Total deduc-
tions amount to s2.23949.