Evening star., 1923-02-07
TREASURY WARNS
OF INTEREST LOSS
Many War Savings Certifi-
Gates Remain Unexchanged.
Financial Notes.

Approximately $65.OO0.0O0 in the
new Treasury savings certificates
have been exchanged for the matured
war savings certificates, according to
an announcement just made by the
Trea sury. which said that of the total
of S633, 900. 900 of war savings certin-
Gates maturing January | only about
Sl33 100000 are still outstanding.
The interest on these has stopped
and the Treasury announcement
urged the holders to turn them in
either for cash or the new issue of
certificates.
Notice Sent Broadcast.
Euilding and loan association mem
hers throughout the United States
lave been served with the same
notice issued to local organizations
by &. &. James. chairman of the leg
islat'on committee CT the League OF
HutldinG and Loan Associations. to
include in their income tax returns
the names of the building loan asso-
cations from which they have drawn
"iNIdends or interest in the last
year.
iy $" doing. Mr.. James says, the
association members will make sure
mat any exemption from taxes or
SUCH payments will be given them
The individual income tax blanks
carry no reference to the exemption
of returns from building and loan
associations which make loans only
70 members. An exemption up to
$500 of such interest or dividend is
allowed for members of such asso
cations. The exemption. however,
does not amply to members of asSocia
tions which make loans to non-mem-
hers.
Sin Directors Added.
At the annual shareholders meeting
OF the International Bank six new
directors We're elected TO serve on
tn" board for the ensuing year. They
vice president of the Cleveland Dis
count Company; Nathan B. Scott
chairman of the board Continental
Trust Company: w. Jett Lauck. econ
"mist: Walter T. Brown. vice presi-
dent Federal Bank and Trust Com
pany. Dubuque. Iowa: Frank B. Essex,
contractor. and Walter Ballard.
Other directors reelected We're
Peter 4. Drury. ]. A. NJ. Adair. X. j.
Farup, J. r. Guthrie. L. J. Hart
Frank kenna. II. G. Langworthy
Thomas B. I.awler A. A. Loetscher.
I'aber McFadden. F.. a. stuart. WI
liam l.. Simons. y. c. Waller and
John r. Waller
Al the organization meeting i'm
nediatey following. these officers were
chosen to serve for the ensuing year
Peter A. Drury. chairman of the
board John r. Waller. president:
James r. Guthrie. vice president:
Thomas f. Lawler. secretary. and
J.. y. stuart. treasurer. .
President Waller reported that
earnings of the institution during the
past year uetted IS per cent. of which
10 per cent was paid in dividends to
stockholders. The total assets. &C
cording TO Mr. Waller, are S1,S00,000,
inI, IS rqn nj tai q
S477.061 surplus.
4. 1. Ii. Dinner Invitations.
Invitations to the annual dinner of
the Washington Chapter, American
Institute of Banking. will be sent out
today. according to James c. Dulin.
jr.. chairman of the banquet commit
too
y large delegation of out town
bankers active in institute work are
expected to be present.
Bond Approval Asked.
Payment Of s3S4 900 due the Wash
ingtou. Baltimore and Annapolis Rail-
road Company is proposed by the An
napolis Public Utilities Company II
their application to the Public Serv-
ice Commission giving them permis-
sion to issue 10000 shares of no par
value bonds is accepted. They also
seek to change their name to the
Severn Light and Power Company.
1t is understood this movement is a
prelude to a possible consolidation
of electric light and power plants
along the lines of the Washing gton,
Baltimore and Annapolis railroad and
the Annapolis Short Line. The Glen
burne Electric Company has been
recently taken over by the Annapolis
company. The hearing is to be held
tomorrow at noon.
Paper Makers Issue Bonds.
Offering has been made by Harris
Forbes & Co. of an original issue of
100000 900 Price Bros. & Co. Ltd,
first mortgage twenty-year sinking
fund 6 per cent gold bonds. series A,
ter.st. yielding SIS per cent The
bonds are callable at 1915 through
February /, 1888. and at three-quar-
tcrs Of per cent less each year
thereafter to maturity. Price Bros. &
Co Ltd. is one of the largest manu-
facturers of news print paper and