Evening star., 1924-08-04
S12,283,237 RISE
IN PUBLIC DEBT
Report Covers First Month of
Fiscal Year--Trading on
Local Exchange.


The public debt increased by Sl2,-
2S3,237 during the first month of the
governments new fiscal year, 1924
25, beginning July l, according to the
Treasury's daily statement. The pub
lie debt stands at s21. 7,684,745, as
of July 81.
The net balance in the general
fund of the Treasury decreased dur
ing the month from S235,4o1,481 to
! s226, 022.
Part Of the increase in the public
debt was due to rise in the sales of
Treasury savings securities, which
| Jumped to the highest monthly fig
ures since the first of the year, when
they were offered in exchange for
the January 1, 1919 issue maturing.
Announcement by the Treasury
that. beginning July IS, the Treasury
savings securities would be with
drawn from the market until fur
ther notice was believed to have
stimulated buying and brought the
| sales up to S12,47S,787 for the first
| 10 DAYS of the month, as compared
with the average of about $S,000.000
70 $l00OO,oo0 monthly since the first
Of the year.
The Treasury organization in
charge of selling these offerings is
| gradually being disbanded and is ex-
pected to be out Of existence within
| a Few more weeks. Lew Wallace, jr
| director Of the United States Govern
ment savings system. in charge of the
| organization, has not amour ccd what
MS connection will be when the or
| Ganization is closed but it is thought
| he will be given a berth in the Treas
| ury should he desire to remain in the
! Government service
| His assistant, H. r. Sheppard, al
ready has been transferred to the Of
Treasury Wadsworth, succeeding
! Daniel w. Bell, who goes TO the new
! position Of deputy commissioner Of ac-
! counts and deposits.
! There are now outstanding five
! issues of war savings securities, saw
| ings stamps and savings certificates
from 1920 to 1924, totaling 422,930, as
of July 81.
Trading on Local Exchange.
Trading on the Washington Ex-
change was fairly active today. One
| hundred dollars of Washington Gas
Light Company 6s changed hands at
! 10l%, while $1,000 went at 100a..
Ninety shares of Washington Railway
and Electric preferred sold at 81
and y shares of Washington Gas
! Light Company went at 497s Lanston
| Monotype moved five shares at 81 y
! buslnesS Methods scored.
The Federal Trade Commission to-
| day issued an unfair practice com
| plaint against Keeler Bros. & Co of
! Denver: Columbia Securities Co
OF Portland, Greg; and the Ma
| tional Finance Corporation of Ari-
zona, which. it said. are owned,
| dominated and controlled by George
/ +. keeler and Frank w keeler"
They were engaged in buying and
| selling water and improvement bonds
! OF States, counties and municipalities.
! The complaint charged fragrant in
| stances of fraud and misrepresenta-
! ton" in Nebraska. Operations were
| also carried out in Utah, Idaho.
| Oregon and Montana, the commission
! said
! records of the acts and proceedings
! by which issuance of bonds were
! authorized and the altera ton of terms
and conditions of the bonds, the COM
| mission charged, were among the
| practices employed. which also includ-
! ed the commission of forgeries in
the histories, proceedings and sigma
! lures of the bond issues" and Of
| ''bribing and substituting officials in
the employ of the States and various
| corporate bodies"
Titus Made Bank Offcial.
| Word has been received from ST
Louis. Mo, that r p Titus, formerly
| " ~" SitS : HfiS OCei SIeCAtu vice
president of the Liberty Central
! Trust Company there. Mr. Titus was
| at one time secretary of the late
| Speaker of the House Champ Clark
and secretary to the governor of the
| Federal Reserve board, during its or
| ganiZation.
Mr.. Titus was born in Leesburg.
| Va, and attended the public schools
! in Washington. He become associ-
ated with Howard & Co. of New York
a Fifth avenue retail jewelry house.
and later came to Washington. He
| IS secretary and treasurer and direc-
tor of the Reserve Security Company
of st. Louis. besides being a director
of the First National Bank of Madi-
son. Ill
PLAINLY of Freight Cars.
The American Railway Association
! through its headquarters here TODAY
announced that surplus freight cars
available for service on July % to-
| tailed 1882, according to reports
filed by the carriers with their car
! service division. This represented a
| decrease of 10.S2S cars from the num-
Der reported on July Il. No indica
tlons of car shortage were noted
sos New Business Concerns.
According to a compilation by the
Journal of Commerce of New York.
new enterprises formed in the United
states in June, with an authorized
capital of 100000 or more, numbered
| sos, representing an aggregate capt.
tai assessment OF $572,195,750.