Evening star., 1922-02-16
1ALK OF LOWER
BANK RA1ES0N
Discussion Hinges on Action
of the Cleveland Reserve
Depository.

Talk of lower bank rates is again
heard in the financial district Dis
cussion Of the matter hinges upon the
action OF the Cleveland Federal Re-
serve Bank In lowering the rate from
5 to Az per cent. Then. again. the
london rate may be lowered to Az
per cent soon.
Action Of the Cleveland Reserve
Bank directors brings the bank rate
in that district to the level obtaining
in New York. Boston. Philadelphia
and San Francisco. Washington and
ahe other reserve districts have q
per cent rate.
Local bankers say that the bonus
question Is problem that will In
fiuence money rates. Should the gov
ernment decide to raise money FOR
that purpose through a bond Issue.
money rates are expected to seek
higher levels. This, of course. would
complicate the whole money market
outlook. and might even influence
higher bank rate.
Should it be agreed that such funds
must be provided through some taxa
tion scheme. the effect on money
rates, it is pointed out, will not be
SO pronounced. although. in any event.
a bonus of any sort Is expected to
have a sentimental effect on money
rates.
500, 1000, 900 withdrawal.
To meet payments due on outstand-
ing certificates Of Indebtedness issued
by the Treasury Department. New York
federal reserve banks will call IN
66.000.000 of deposits today. With
drawal of this vast sum Is expected
Ai~f Of
money rates, which have been especial
ly easy in the last few days.
W. n. 4 r. Dividend.
At a specia, meeting Of the board of
directors of the WASHINGTON Railway
and Electric Company yesterday the
I quarterly dividend Of ~ per cent WAS
J declared payable on the preferred stock
March to shareholders of record Feb
ruary 1S
Owing to the pressure of business
at the January meeting, 1t was an
nounced that the board did not vote
the dividend at that time. The COM
pany will pay $106.25o to holders of
preferred stock on account of the
dividend. The par value of the amount
of the preferred stock actually out
standing is ss.5oo.OoO.
Roe FulkersOn Tonstmnster.
Owing to the inability of John ].
Boobar. general manager OF the Ter
minal TaXicab Company, to preside
as toastmaster at the annual ban
quet of the Washington Chapter
American Institute of Banking, at
the New Willard, February %. Roe
Fuikerson has been selected to act
in his stead. Tickets for the dinner
may be procured from r. Jesse Cha
ney. at the Commercial National
Bank.
Hoge Addresses Credit Men.
Declaring that the mercantile
agency report is the credit mans
first line Of defense, and that the
credit man should cooperate, as far
as possible, with the mercantile
agency. ]. H. Hoee. superintendent
of the Bradstreet company, addressed
the Washington Association Of Credit
! Men at the new City Club yesterday.
The mercantile agency and the
ways in which the credit men san
aid the agency in securing credit in
formation was gone into at length
by the speaker. after which general
discussion was held.
Miss Ethel Spalding Slater of the
Vocational Research Institute will
take the affirmative and A. F. Har-
Ian the negative in a debate on
THAT the Credit Man Should Per-
sonally Interview His Credit Risks"
at a meeting to be held by the asso-
citation next Wednesday, it was an
aounced.