The Washington herald., 1922-12-13
FOURTH QUARTERLY
lNSTALLMENT OF 1921
TAXES DUE FRIDAY
Only Moderate Drain on Dis
trict Bank Deposits Is Pre-
dicted at This Time.
BY CHAs. p. SHAEFFER.

Dy Nu<AS. r. Sf1hEFrEkk.
Fourth quarterly installment Of
1921 income tax payment Ia due
Friday, December is.
For this reason, Washington bank.
ers are predicting a rather heavy
drain on bank deposits in the in
terim. However. 1t Is not ex.
pected that this drain will prove
excessive as 1t is believed the ma
oority Of tax payers have already
met their obligations. 1t Is pointed,
out that the year now drawing
to Q close has been fairly pros
Porous in more ways than one.
and tardiness alone Is given as the
excuse for most late payments
Another factor which should aid
Victory notes of the AZ per cent
series viii be accepted at par In
payment of income and profits
taxes. They must have the coupon
attached for May 20. 1928. Amount
OF the notes at par must not exceed
the amount of taxes to be paid. 1t II
believed that all holders of this
series Of Victory notes will seize
the opportunity to realize on them,
at par. before maturity, although
they will surely be redeemed at par
upon maturity. or exchanged into
other Treasury paper, at the option
Of the holder.
Collectors will also accept at par
United States Treasury certificates
Of Indebtedness of Series TD-1922.
dated December Is. 1921. and
maturing December 15, 1922.
December collections are not ex-
pected to total the $104, ,033. .344 re-
t. h- NJ 1o at An
There was a decrease in income
and profits tax collections for the
fiscal year ended June 80. 1929,
and internal revenue collections fell
off 30 per cent.
NEW BANKING HOURS.
The G street branch of the Sec
Ond National Bank will, beginning
next Saturday, inaugurate new
banking hours for Saturdays. The
institution. it is announced. will re-
until $50 D. m. The additional
time Is for the convenience of Gov
ernment clerks, II is said.
ELECTS NEW PRESIDENT.
Robert B. whitehurst was elected
president of the Peoples Commercial
and Savings Bank at a meeting of
directors of the institution late yes
terday afternoon. He succeeds John
b. Clancy, resigned.
Other officers elected at the meet
ing are as follows: Vice president,
John Brayshaw, who has been asso-
ciated with the institution since its
inception: cashier and manager of
the branch at 360s Georgia avenue
northwest. Robert II. Hill. of North
Carolina and Chicago, reputed to be
en- able and experienced banker. Mr..
Hill was also placed on the direc |
torate, together with E. Barbour |
Hutchinson and James F. Noel, 10 |
cal business men.
Officials of the institution state |
it has been very successful since its |
organization. and has grown very |
rapidly, having increased its de-
posits 100000 in the past five
months. 4
The main hank is at S22 East
Capitol street.
ADOPTS RESOLUTION.
Endorsement of President Hard |
ing's stand in regard to transpor-
tation in his recent message to Con-
greSS was expressed in a resOlu- I
ton adopted yesterday by the ad-
ministrative committee of the Amer
lean Bankers Association, in ses-
sion at the New Willard Hotel. |
The resolution reads as follows:
Resolved, that the administrative
committee, American Bankers Asso-
citation. commends the President of
the United States on the courageous
and conservatively progressive stand
taken by him, particularly in re-
spect to the necessities of transpor-
tation as a whole. in his recent |
message to the Congress"
During the afternoon calls were
made by the committee on Comp
troller of the Currency Crissinger
and on DIR. Julius Klein, director
Of the Bureau of Foreign and Do
mestic Commerce. DIR. Klein out |
lined to the committee the work of
his bureau in obtaining trade in
formation from all parts of the |
world He spoke particularly of
indications OF the growth Of Amer |
lean export trade. especially in the |
far East.
DECLARES DIVIDEND.
Directors of the District Guar |
anty Corporation yesterday declared !
q dividend of 2 per cent on the pre-
ferred and $500 per share on the |
common stock OF the company.
The dividend is for the quarter |
ending December 81. and checks |
will be mailed on December 81 to |
all stockholders OF record Decem- |
Der IS.
Ar,,y ord Nox,x,