Evening star., 1923-10-17
COSTS Of RUNNING |
GOVERNMENT lUNB
S91 100000 Increase fol
September-LWeIy TradingI
on Local Exchange.

Cost of running the United States
government during the month of Sep1
tember. 1928, increased approximste1
ly $9i.o00,000 to s2S6,O72.5o4, as COM
pared with the previous month, when
ordinary expenditures totaled bud
Sfs5,5s9.775, the Treasury Departments
announced this morning.
The huge increase. a survey OF tho
statistical report shows. is whoIly
due to big jump in interest on the
public debt. this item amounting I'd
s122, 302.S11 in the latter period, in
contrast with only $10.s53.431 in
August of this year.
Public debt retirements ehargea bIss
against ordinary receipts. made dur
ling September amounted to s2S,7fs.-
2eU, as against $3S,936,85A the pre-#
vious month, while other pubic debt@
retirements made during the peTiod#
aggregated SS99,450,7S0 and s4l,0G3,-
l6f, respectively.
Reserve Bank Issues Call.
The Federal Reserve Bank of Rich
mona has called ON all local members
10 pay into their regional bank, not
| later than tomorrow, . per cent Of the
proceeds of the September 10 sale OF
series T Ma 1924 certificates resaain-
lDS Win them on deposit
The call. nationally, will result in aE
withdrawal Of approximately $3.50, 900.
Baltimore members Of the southeast-
ern group of the Investment BankersE
Association Of America arc makingN
elaborate plans for the entertainment
OF officers and members of the national
committee on Saturday, October %
prior to the convention, which will III
held here October 20. 80 and 81.
Following meeting at the Hotel
BelyedeTe in the morning, the out-of-
town members will be guests Of the 4
southeastern group al the Princet on
Navy foot ball game at the new stadiumk
in the afternoon. and later at a dinner
at the hote!.
The guests also will be entertained
at the homes Of the Baltimore mem
bers.
New Institute Committee.
James c. DuIin, jr-. president Of the
local chapter, American Institute Of
Banking has named T Hunton LeithE
chairman OF the public affairs com
mittee, the newest organ of the asso-
Ella ton.
The functions Of this body will con-
sist in co-opera ting and acting as al
go-between with the committee on
public education OF the District Bank /
ers' Association and civic and tradsE
bodies of Washington
Mr.. Leith has named as aides CharIesE
p. Boyer. Victor B. Deyber. Edward
J, McQuade, l. p. H. Siddons andI
Eliot II. Thonscn.
The financial program of the Better
Business Bureau. in which the :inan-
ciaI interests Of Washington haveH
pledged their cooperation, is now
being completed with view n be-
ginning Immediately an effort to-
protec1 the public against uHscrupu-
lous and fraudulent promoters of Sc
curities.
The bureau will especially WORK to-
protect the hard Learned SAVINGS OF
the thousands and thousands OF gov.
ernment clerks. many OF whom in theI
past have been made victims OF fiy-I
by might promotions. such as oil.
radio and like schemes.
Howard n. Cool, manager Of the bu-
reau here. is conducting the move
ment.
Bend Issues Quickly Taken.
The s47,e06.o00 Federal Land Bank
bond issue OF AZ per cent bonds. Of
fered 10 the public at par. have all
been sold, members OF the syndicatel
which offered them announced iateI
yesterday afternoon.
Likewise, the SIS. .00o. 900 issue Of the
! New York. Chicago and ST. Louis Rail-
road Company of per cent cumhia-
tive preferred stock thrown on the
cate headed by the Guaranty Com
pany of New York. was closed half an
hour after the books opened
Local Exchange Very Active.
Demand for the prefeTved stock of
the Washington Railway and ElectricI
Company. and the easing off in price
due to heavy selling. together with
the greatest activity in months. pro-
vided the feature on the Washington
Stock Exchange today. This issue
sold to the extent of 2So shares. main
" in large lots opening at 765s but
dropping TO 70i2 after the first sale Of
ten shares.
Security Storage Company stock
again broke into the sales column
with a burst of activity. during which
l0n shares changed hands At 245 and
946. the trend being upward. Riggs
National Bank stock sold at 29eTs
American Security and Trust Com
pany st sos. Continental Trust at 80
ana Capital Traction a 1904.
Bond trading was light and we'll
variegated. at unchanged prices.
Banking Office Opened Here.
The Puritan Mortgage Corporation,
New York mortgage banking con-
Germ, opened branch office here to-
day at &c Jackson place under the
management Of Col. C. de +. Chandler.
This concern has its executive
headquarters at 2T7 Madison avenue,
New York. and branch offices in Bos-
ton, Springfield, Providence, Albany
and Philadelphia. 1t deals in the
purchase of first mortgage real es-
tate bonds.
TRAIN c0NTR0I IRlERE0