Evening star., 1922-05-16
NO OfEDERAL. LOANS
! Until NEXT MONTH
Heavy Financing Then-Calls
|. for se1,5oo, 900 May
/ Remedy Sore Spot.
BY 1. A. FLEMING.

.
The position of the Treasury was
so satisfactory, entering the last half
of May. that no. further government
public loans are likely until the 1st
or the 18th of June.
+ Interest was payable yesterday on
second liberty bonds. .r4;;a :
The Secretary has called for $41.-
900 900. to be paid in today and then
for $20,500,O00 to be paid in Thursday
from the proceeds, arising from the
March Is financing.
The April financing. 81. per cent
certificates, $3.50, ,000,00D has not been
called, even in part. from the banks
making the sales and buying the
certificates: also there still remains
$20.500, 900 to the credit of the March
proceeds. ~ :
It is likely that the next call for
funds from the proceeds of. sales will
take out the $20,5O0,0 900 and nearly a
like amount of the April proceeds.
Money is SO easily and plentiful
that this financing is not likely to
cause any furry. '- "a
I With June Is all sA per cent vic
able on first Az or AZ per cent lib
critics. Then two issues of Treasury
certificates are payable June Is, with
the part OF the issues payable for the
second instaliment Of taxes, which
becomes due on that date.
For this reason it is likely that
moderately, large financing may be
undertaken on that date.
General opinion seems to favor the
3 V per cent rate of the last issue as
likely to be maintained.
NAV Get Some Relief. r-.sf
While the members of the commit
tee of local bankers who called at the
White House yesterday in order to
solicit the Presidents influence for
the enactment of daylight savings
law in the District were not success
full, it is probable that they will be
successful in making some arrange
ment whereby the Treasury Depart
ment will accept funds for transfer
to Richmond at later hour than pm.
to meet the. exigencies Of the situation.
cation until he uncovered the sore
point" and Immediately suggested
that he guessed he could get Sec
retary Mellon to fix that"
! $2,O0o.OO0 in Two Years. ..
Mount Vernon Savings Bank. $2.-
100000 plus in two years. The sec
ond anniversary and the second mil
lion dollars of deposits were fittingly
celebrated at a dinner rendered by
the bank to its officers and directors
at the Harrington Hotel.
r. Golden Donaldson presided hap
PLY, and paid high tribute to success
that had been won by the officers Of
the bank. through competition Of con-
siderable, strength. William Much
leisen. president of the bank. and e.
r. Davidson, vice president, with VIII
liam r. Baum, its able cashier, all
talked on business topics.
Another Dinner.
At the Southern Maryland Trust
Company dinner, s. J. Henry, presi-
dent, presided over a gathering Of
about forty prosperous men of Seat
Peasants Upper Marlboro and vicinity.
Tribute was paid to the memory of
Francis Carmody. and. with promises
of greater efforts for the success Of
their cherished Institution, the even
ing passed pleasantly.
A few vaudeville stunts and George
and Aatt,furnFhed THE: side Nnes.
TermfnaI TaIicab Stock Listed.
The preferred and common shares
Of the Terminal Taxicab Company
were listed on the local stock ex-
sooo1 anu quoeeo on tuS reg
uler call.
Local Securities.
Potomac Electric first SIS made a
new high on this movement yesterday
at 96. Washington Gas 5s brought
94h.
Capital Traction shares were strong
at 97A; Railway common sold at 39h
and the preferred was firm at 10.
Gas shares advanced sharply to So.
Two Court Decisions.
Had the United States Supreme
Court ruled the intangible tax law
for the District of Columbia as illegal
and the child labor law legal Wash
ington would have welcomed the rul-
ing much more cheerfully. 80
As It Is. there Is nothing to do but
blame the law and pay the tax.