Evening star., 1922-09-10

ating incomes in excess of per cen
and not exceeding per cent OF tn,
1a1r valuation of the propery
each company-a tax of SO per cen
upon operating income each year ant
on excess Of per cent a tax of {!
per cent.
The measure has not passed tn.
House.
Local Securities.
Action in the market for local Sc
curities picked up a little during tn,
last week. The sagging trend il
Railway preferred was checked b,
the buying of one broker and tn,
prices stabilized at 651a. The com
mon was neglected.
Capital Traction reacted a point OF
the smallest of sales. with the type
settlers firm.
In the bond market there was JUS
little hesitation. For the time be.
ing the bond list will be doing vel
10 hold its own, and yet there is nc
reason why it should sell off. Tn,
furry is but temporary rise tha
Will not go far.
Federal Financing.
1t is understood that the inancins
by the Treasury Department for Sep
tember will be announced on Monda,
morning.
At the national Lafayette -Marn.
DAY ceremony at West Point thi,
week CASTOR Liebert. the French con.
sui general. on behalf OF his govern.
ment, for eminent services rendered
to the cause of France, conferred tn,
order of Chevalier of Legion o.
Honor upon Col. Franklin Q. Brown
chairman of the ceremony. Their,
were present Gen. Pershing, tn,
MARQUIS de Chambrun. Maj. Gen
Tauffiieb of the French army ana
other distinguished guests.
Col. Brown is president of th'
Army and Navy Club of America ant
senior member of the banking firm
of Redmond & Co.
A Nation OF Savers.
An average of more than one saw.
ings account for every family in the
United States is indicated in partia,
data for n country compiled by the
savings banh division of the Amer.
lean Bankers Association. revealins
over 26,60o,0o0 savings depositors liz
the sources of data covered. In ad.
dition, there are at least ten millior
other owners of savings accounts OF
varied forms whose numbers cannot
be reduced to definite figures.
Complete data is practically inn
possible to obtain under present sta.
tistical conditions in regard to saw
ings. But even with all figures lack
ing for the thousands of state-char-
Illinois, Missouri and twenty three
states and the District of Columbia,
and with only the mutual savings
out of all the state banks and trust
companies in Indiana. Ohio and New
Jersey included, the number of saw
ings accounts reported by the federal
and state supervisors of banks reach
ed a total of 26.637.s31 on June go,
1921. which is the only date for
which the statistics are available.
I'm addition. there are millions of
savings depositors in the non-report-
ing states above mentioned. which in
clude not only the south, with the ex-
ception of the Virginias. but also the
great states between the Mississippi
and the Rockies, except Minnesota.
Furthermore. there are perhaps
three million owners of time certif-
Gates of deposit, which are used in
place of savings accounts in rural Sec
tions: also the half million patrons of
the postal savings system, five million
members of building and loan asso-
Citations and other millions who in
vest the proceeds of their thrift with
life insurance, real estate mortgage
and standard industrial and other
corporations"
1.-The total of savings deposits was
recently reported by the savings bank
division of the American Bankers
Association as amounting on June 80,
1891, to $16,61S,595, 600"