Evening star., 1924-06-11
U. S. MAY OFFER new
L0NG-TERM BONDS
Local Financiers Predict Such Is
sue During Present Year at
Very Low Rate.
SAVINGS BANK EXPANDS
Hallway Common Touches New
High Level.
SAVINGS BANK EXPANDS
BY CHAs. p. SHAEFrER-

A rumor is now being circulated in
local authoritative investment circles
that the Treasury Department con-
templates, either in September or De-
cember, an Offering of Ione-term
bonds at the lowest rate of interest
yet attempted. The rumor is based
on the comparatively small current
oHering of government certificates
"hlch mature in six months
s,el rsoVlslon you'd be made through
costs or the soldier bonus, taking up
nDerty bonds nearing maturity and
quirements.
Experts Of the bond market en-
ployed by the Treasury Department
will pay close attention to price
movements during the next few
months, IL is asserted, and il the
trend continues upward an issue Of
long-term Indebtedness at per cent
fiat against the war loans at4A per
cent will be undertaken.
Thls consideration qualities tW
fact that only s150,0o0.000 of new
certificates are to be issued in the
face of Treasury disbursements on
June 16 which will exceed half a bill
lion dollars.
Government securities are now
yielding from 3.45 to 4.04 per cent,
and it is pointed out that further ad-
vance of only half a point in these
a per cent level. In the event this
price is reached the government
could accomplish long term financing
at terms quite as satisfactory for
their maturities as the 2& per cent
return on the current issue.
Savings Bank Expands.
The Washington Savings Bank
10th ana Grant place northwest, has
taken in the adjoining store room at
vi 10th street, which will be utilized
by the bookkeeping department. the
providing additional teller cages.
This institution has recently put
in force the machine bookkeeping
system with monthly statements 10
its depositors. 1t has nearly doubled
It's deposits. now approximating $780,
600, since Thomas L. FARRELL took the
the presidency about eight months
ago.
Payment In Gold Likely.
The high level of Liberty bond
prices has caused considerable specu-
lation in the local financial field as
to the probable means to be employed
oy the British government in meeting
us semi nual payment of $6S,000.-
oO0 due June Is under the debt set
tlement plan. Close observers of mat
ters financial aver these bonds will
not be used in making settlement. as
little evidence of buying for British
account has been noticeable
In the absence of comment from
sources who have definite knowledge
or the method to be employed, it has
been suggested that the steady con-
signments of gold to J. p Morgan &,
government. may be at the instance
or the British government account
Railway Common at New High.
, Common stock of the Washington
Railway and Electric Company touch
ed a new high level in this mornings
trade on the local exchange, ten
shares selling at IS. Meanwhile the
preferred issue of the company,
whlch now is quoted below the com
a strong effort to lessen the gan.
sales of 100 shares resulting in an
advance OF a quarter point to 731a.
Selling in this latter issue included
two fifty-share lots.
capital Traction was firm but un--
changed. thirtyfive shares selling at
94A and e4%s, with Washington Gas
changing hands at 48A. Lanston
brought s2A. American Security
and Trust Company was quite strong
and active, 100 shares selling at 3os
an advance of . points. Two hundred
shares of Columbia Title Insurance
brought 3 and fourteen shares of
National Capital Bank sold at 232.
Bond trading was firm but restrict
ed to favorite utilities.
$40,OOO.O0O Bond Issue Planned.
Preparations are reported under
way TO sell s4o,000,000 of Federal
Land Bank bonds within a few days.
The details of the loan are not
definitely established as yet, it was
said.
Treasury Issue Subscribed.
Acting Secretary Winston of the
Treasury announced today that the
latest issue of certificates of indebt-
edness. offered at the lowest interest
rate since the Panama Canal bonds
We're sold, had been subscribed and
the subscription books will be closed
tonight. Tho Treasury asked for
about $3.50, 100000 on 90 per cent
interest for six months.
Approximately 100000 in Sc
curitfes mature June Is, and the
Treasury expects to retire them from
proceeds of the new sale, together
with balances on hand and receipts
from the June Is tax instaIlment
U. S. TREASURY CERTIFICATES
(Cuotations furnished bv Pa5,,os . -