Evening star., 1924-02-26
FEDERAL:AMER|CAN'
BIDDING TO OPEN
Plans for New Home Prac-,
ticaIly Ready-Lanston
Sells Off on Local Board.

Competitive bidding for the erec-
ton of the elaborate new home OF the
Federal-American National Bank at;
18th and G streets northwest will be
opened in the near future. John
Poole, president of the institution.
announced this morning.
The building committee, which is
headed by Mr.. Poole, spent yesterday
In going over the plans as submitted
ny Architects Bosom and de Sibour
Some changes were made and the re-
vised plans are to be submitted on
Monday next, and if satisfactory the
institution will then oe in position
to accept bids.
The changes in question do NOT ar
rect the elevated banking room as :
originally planned and are said 10 be ?
only minor in proportion.
Lanston Drops Two Points.
A decline OF two points on the part
or Lanston Monotype was the out {
standing occurrence on the Washing
ton Stock Exchange this morning. Fiji
teen shares of this issue changed
hands at 72
hallway preferred was in sparse
demand at "a. with the common firm
at IL Capital Traction opened at s. ;
ana sold off to 94bs, and Washington
Gas Light was unchanged at 49I4
american Security and Trust Com
pany was fractionally higher at $685..
On the investment side OF the mar
ket Gas 6s brought par and a half.
and Potomac IS sold at 107M.
Next Government Financing. ~
The next Treasury financing wis
nf Traa
Gates of Indebtedness and will total
approximately half a billion dollars !.
according to opinion in the financial ,
district. The maturtties and interest
not been revealed. but it is expected,
the fiotation will be as of March
Is, next, -
On that date the Treasury will be.
called upon TO meet maturing gov
ernment obligations and interest :
payments due as we'll as to provide
funds for current expenses until the.
next financing period in June These ,
demands will be offset to some sk-,>
tent by receipts on account of in :
year, but the difference necessary, for
maturities and current expenses. is
estimated at around $500, 0,000, ,es0i
Rediseount Rates to stand. :
Rediscount rates in the twelve fed 4
eral reserve banks will remain uIl-.s
changed Tor the present. The. board
has given consideration to the sub :
ject informally, and its members ii :
was declared, are agreed that the ea- ::
listing rates should be retained uniii
changing conditions warrant an al >.
teratlon.
While the board is the final author- :,
ity on rate changes, it has developed. ,
that its advisory counsel, which: held .
its first meeting of this year two :
weeks ago, has advised the retention
of the present rates. = =
The board has received no appli-
cations from federal reserve" banks
requesting changes in the rates but 9
some rumors that ii change was to ]
be made prompted denials from
board members, who asserted that
the money market was easy and that
no occasion required either reduc- :
tion or increase in redisceunts
Corporation to Pay Per Cent. -
THE Radio Corporation will: this :
year pay the z ner cent divide end ors
its preferred stock, which is cumu-
lative from the first OF JANUARY.
1924" Gen. Harbord. head Of the
Radio Corporation of America, de-
clared today.
1T is anticipated that at the meet
ing of the stockholders, to be held:
In May. the charter of the corpora
ton will be amended so as to re-
duce the number of shares of au-.'
thorized preferred stock from 5,000,-
900 to 100000 and the authorized no
par value common stock from T,50o,- :
900 to 100000 shares.