Evening star., 1923-03-19
TAX MONEY GOES
. OUT FREELY TODAY
, Return of Checks Heavy.
Traction Shares Firmer,
! Also Railway Common.
BY I. A. FLEMING.

J,come checks came back from
Richmond and the Baltimore branch
today by the millions. One national
' bank was called upon for payment
of little over an even million dol
lars and others were hit for large
amounts
l.ast-day payments were very heavy
all corporations holding off to the
last minute. and as the checks IN
liuuidation of taxes did not reach the
collector in this district until ealur
/, day morning, they were not preseh'eu
for redemption until today.
A call at this time would tlnd the
bank deposits were materlaii! Oh :
but il will probably be another mohtn
before the first call of the year VIII
be made. and then there will be out
two others during the year. the three
calls year being incorporated In
the law now.
The borrow ing of the Treasury De-
partment has come to be more or
less regular movement in and out OF
money and doesn't make much dlf-
ference with the deposits of the
banks
Nearly all the funds arising from
preceding financing have been with
drawn. but all funds arising from the
last flotation of Treasury certificates
and notes still remains in the banks.
Business is good, but there is am
pie money available and no indlca-
ton of any pressure.
Riggs National Bank.
Temporary work in connection with
the work OF remodeling the Riggs
National Bank was partially taken
down this morning. revealing the
beautiful new offices of the bank in
the new building that has taken the
place of the former Arlington lnsur-
\ f..N1 70 al q
with the main Office building, and one
may now form some idea of just how
the bank viii look when improve
mentS are completed.
Local stock Exchange.
There wasn't very much activity on
tho local stock exchange today. but
there were evidences OF a firmer tone
in Capital Traction shares. which
, advanced to 9sl2. and in Railway
common, which improved to $50.
Washington Gas sold Al 51io and
Ianston at 79as although sales in
each instance were light
Potomac Consolidated 5S were firm
at g. Il. Gas 1l2 notes. 1oS.
Service Counts.
Municiral ownership may succeed
for a time. where the exceptional
'man puts his services at the city's
disposal and brings an orderly ma
chine ont OF chaos. as. for instance
III lSlTDlI. nut "nen lIdI ulSI1lleI-
estcd servant is taken away and only
the machine remains it operates with
out soul and. what is worse. with
out conscience. With the activities
of Mr.. Couzens transferred to Wash =
inCtou. Detroit has abandoned the
sacred nickel The fare on it's much =
helauded muniCirally-o street
railroads s now to be found some :
where in the slogan service at cost"
Traction service at cost in New York
city. under Tammany operation
would mean a deficit to the taXpay-
ers on a ten-cent fare in twelve
months and the removal of every con-
siderable factory beyond the city
limits III less than five years.-Wall
Street journal.
Orders Locomotives.
The Baltimore and Ohio Railroad
Company has just closed contracts
FOR scvcnty-five additional locomo-
tives. which ii is expected will be
delivered next fall. They will cost
approx :mately $4,000 each. Order
for twenty-five Of them was placed
with the Lima Locomotive Works at
Lima, Ohio. and fifty with the Bald
win Locomotive Works at Eddystone,
Del. The plants of both of these
companies are located on the lines
OF the Baltimore and Ohio railroad.
While these locomotives, which
are known as the santa Fe" type,
are of particularly heavy construc-
1iou, the trucks before and after the
drivers help to distribute the dead
weight and Notwithstanding the
greater tractive power through the
medium Of ten unusually large driv-
ing wheels. the engines are able to
make raj. d progress with a heavy