Evening star., 1922-12-11
THREE CALLS" Will
Be THE 1928 ORDER
Act Awaits Presidents Sig-
nature-locaI Bonds Active.
Savings Clubs Start.
BY L. A, FLEMING.

6x l. A. FLEmlNGs
In all probability there will be but
three calls for a statement OF con-
ditions from the office Of the con-
troller of the currency during the
year 1923 and thereafter. unless the
occupant OF the ONCE finds 1t neces-
sary to order an extra or two.
During the terms Of the previous
controller six calls" q year was the
order Of the day. although the law
specified hve rs the number obliga-
tory.
bill passed the House last June
|, amending the number from five to
three: recently 1t also passed the Sen
President as yet.
Responding to calls Is one Of the
most irksome tasks OF Junior bank
officials. and when they had to make
siH statements year. plus new ques-
tioss to answer every few months.
calls were to be dseaded.
The present controller has held to
the law and been satisfied Herewith.
Local Securities.
Bonds furnished the chief source OF
business on the local stock exchange
today with prices either steady or
slightly shaded. Capital Traction 5s
when they sold at 961a TO 96A.. 1t
may be that some of the bondholders
are disposing of their bonds and
buying stock, for the latter Is very
strong.
carly at s5h, but closed at s6h. Con-
| solidated 5s Of the same company
! brought s5h. Railway 4s sold at ~
and Washington Gas. u notes at lo..
| Stock trading was extremely limit
ed. few odd share loes comprising
| the entire record. Capital Traction.
| 104% and strong.
! other sales on the regular list were
| scarcely worthy of mention.
District Title in the uTl,sssd MI ssins,on see,
Moving Gr.phophones.
| Baltimore reports that the Coium,
; bia Graphophone Company has shipped
| nearly all Of the 10000 talking ma
chimes that it has had in storage in
| the factorys plant in that CITY. X
7! is reported that the machines haFe
| been delivered and that all in storage
| are being pushed out as rapidly as
| possible.
| 1t is within the possibilities that
| the company has booked considerable
trade for the Christmas season. ana
\ a
been actually sold, but probably the
greater part OF the machines have been
placed on commission
Baltimore says that some OF the ma
! chimes have been in storage two years
and the indications are that the COM
: pany has reached a turn In its affairs.
Hopes are expressed that operation
of the Baltimore factory may begin
soon
Through all its troubles the Co
lumbia Graphophons Company has
paid it's rent regularly on the fac
tory in this city and in Toronto. and
ali bond interest coupons and pre-
ferrcd stock dividends have been paid
as they fell due. In addition to rms
the local corporation has been able
have been called on interest pay.
ment periods as provided ior.
Perhaps. old Graphophone may yet
make good-it's possibility.
Federal Finances.
a billion dollars will become pay
able from the United States Treas
ury ON Friday. in principle and in
terest on the public debt, while at the
same time the Treasury will offer
new securities to the aggregate of
500. 100000.
! The billion payable is on account
of about $7000o0.000 in called vic
tory notes. about $20o.eo0,0o0 in
treasury ccEtIIlcdteS OF OteuueSS
and about $10o.0oo.O00 in interest.
Victory notes called for redemption
hear the distinguishing letters. a. B.
e. y. f and f. prefixed to the serial
numbers. and interest on these Will
cease December Is. Holders may get
lon said In an announcement made
public today. "by presenting them
for advance redemption. at par and
accrued interest to the date OF such
redemption"
The new offerings to open on De-
had previously been made. may be
taken in exchange for victory notes
called for redemption or Treasury
certificates maturing on December Is.
about $500. 900, 900 of Az Treasury
/ notes maturing In two and half
years. and Treasury certificates in
maturing in three months. and the
! other bearing per cent and matur
| ing in one year.
Savings Clubs start To-day.
All over the city Christmas savings
clubs are being started today for the
season OF 1923. A much larger num-
her Of banks will operate clubs dur
ing the ensuing year, and many banks
| VIII go into this class of business on
| a larger scale than heretofore.
Among the national banks that will
/ operate clubs are the Franklin Ma
| tional. Farmers' and Mechanics, Sn-
ond National and the Riggs National.
! other than its main office on Penn
| sylvana avenue.
banks viii start clubs today. Savings
Actual revised figures for the clubs
. that have paid out this year, includ-
ing $4,000 for the East Washington
! Savings Bank, not heretofore men,
=. toned. s2.OS6,700.
] 1t is expected that next years aid
! to business through these clubs will
be not far from $2.500.000.
! Forming as they do such "A large
! part OF the annual disbursements.
nearly 4 per cent. they are especially
| worthy of encouragement. Local
merchants bear testimony to the won
! are able to trace direct to the clubs
! savings.
| Lectures on Banking.
| For the nth successive term,
! classes made up of officers of the
/ Supply School OF Application of the
1 Navy. will be taught the technique of
banking in a course of lectures to be
! delivered by local bank officials.
!: Admiral Carpenter Is responsible
| for this course, inaugurated by A. G.
i.rsiness with John l.. Edwards & Co,
at his request in 1919.
| The full program OF lectures fol-
lows:
| December is, National BankS" by
| MIR. Deyber: 20, 'State Banks,s by
Mr.. Deyber; az, "Bank Organization
| by Mr.. Flather; 81, Mature and Use