Evening star., 1922-04-18
UTILITY BONDS ARE i,
NGOOD REQUEST
Top Prices Prevail on All Is
sueS-S0me New
Highs Made.
BY j. A, FLEMING.

Public utility bonds again featured
the session of the local stock ex-
change, and in every case prices were
strong and at the top of price Sange
during the present movement
Potomac Electric first mortgage 5si
were strong at new high. 95z4. and
the general mortgage C. of the same
company were held firmly at par.
Washington Railway As touched
694, new high, while the general 6s
of the same company were firm at 80.
The few sales of Capital Traction
stock made were at a new high, Sc.
Bid and asked prices indicated that
holders of local securities continue to
have high opinion Of their value.
Personal Mention.
The name of James Trimble, vice
president of the National Bank of
washington, was inadvertently omit
ted in naming the committee that viii
make recommendations to the Dis
trict Bankers Association with re-
gard to the proposed housing prop
osItion.
Milton f. Allies Of the Riggs Ma
tional Bank left this afternoon for
New York.
Well Supplied With Fuel.
Judge Gary is authority for the
statement that the United States Steel
Corporation is well supplied with
coal and coke He said that three
important coal fields furnished the
corporation with $4,000 tons of coal
weekly and 54 per cent of the coke
from the Connellsyille region.
Southern Railway Company.
The Southern Railway Company has
appealed to the Interstate Commerce
Commission for authority to assume
and guaranty the payment Of $4,000
teen years and bear 512 per cent in
terest.
Paying Heavy Interest.
Borrowing on the immense scale
that the eovernment has been obliged
to since it's entrance into the war, Is
an expensive luxury, even though the
rate of interest paid by the nation is
supposed to be below that paid by
the government borrower.
In 19i9-l920 the government,
through the Treasury Department.
paid a total of s1.020,25l, 1922 interest
on its obligations.
In 1920-192l the amount was re
duced to s999,11i.131. while for the
nine months Of the present fiscal
year ended with March, SGG7 SI5. .GC9
has been paid out
In 1917 il only cost the .sovernment
23,2S2.376 on account of interest on
the public debt, and in 1918, SfSa.-
743.277.
The low rates of interest for gov
ernment obligations have not been in
force long enough to make much dit
ference as yet in the aggregate pay
ment
The range of interest on war obli-
cations was 3i2 to az. per cent, but
running expenses and the maturity
rates in the tight money period to
advance to 5a4 and even 6 per cent,
although all the latter certificates
have been retired.
For nine months of the current
fiscal year the payments are about
S11.500, 900 in excess of the require
ments to the same date last year.
All 6 per cent and some J2I per
cent certificates have been retired-A
and future ma1urities Will find the
government making new refunding
loans at a saving of nearly l per cent
and better in the matter of interest
bearing obligations.
Peoples Savings Bank.
Washington has had Peoples
Savings and Commercial bank for
some time, and it now has a Peoples
Savangs Bank, on L street just east
of 18th street northwest.
Thinking of Investing.
Are you thinking of investing?
Well, don't do it, without at least
giving your banker the privilege OF
looking over the proposition,
There is nothing on the market so
good that bank investigation might
not be advisable for the layman and
not infrequently for the man familiar
with investments.
The great squirt of activity in the
investment business has created
desire on the part of the general
public to make p little money
through real investment not specu-
lation, but many of the investments
offered today may be classed with
the widest of wild speculations.
Ask your banker?