Evening star., 1924-12-02
.$14,67Q,1OO CALLED
/. BY i. S. TREASURY
National Banks Are Asked to
Remit on September
. Certificate Sale.
BY CHAs. p. sHAEFFER.

Withdrawal by the Treasury De
partment of Government funds de-
posted with banks throughout the
country to meet national expenditures
pending the new Federal loan expect
ed the middle of this month has again
been ordered
Secretary Mellon today called on
the banks of the Nation having pro
ceeos OF the September IS sale OF Ger
tlncates to pay into their reRioral
members not later than THURSDAY. De-
cemoer (. S per cent of these pro-
eeeds. The call will aggregate
Sl4e7o,1o0, leaving a balance OF
$los.fo6.4O0 with the banks OF the
totai amount New York members will
pay s3,112,ooo.
Ihe called amount Is a portion OF
| an original loan Of s3so,ses. 500 Of
"a per cent one-year certificates. OF
which 1855, 500 were in cash sub
scriptions, the remainder being ex-
changes.
with the current call sS o-5 nor
| cent or the loan will have been with
| drawn.
| Institute Nets $500,
!, Approximately $500 was realized by
| .he local chapter, American Insti-
| tute or Banking, from the benefit
given at Polls last night.
| Ihe duoience represented the lare-
est gathering of local bankers ever
assernnled IN Washington. 1t was
estimated that more than 1900 wers
present. The entire fraternity re-
sponoed with will which empha-
| sl1eo the esteem in which the school
held by the profession. Betwee-
curtains Fl. W. Burnside, president nf
lhe chapter announced the theater
party would be an annual feature Of
the institutes functions.
! Several hundred seats reuain.i
! unso!d for the nights performance
Ihese were magnanimously extended
| Iree, 10 patients at Walter Reed
| Hospital.
| Fewer Business Failures.
Commercial failures in the limited
states in November were the small
est Tor that month since 1920, the to-
tal or 1853 compared with 1896 in
october and 1.704 in November last
year, r G. Dun & Co. announces
November liabilities of s31.12e,e1o wer,
about $4,000, ooO 900 below those of Oc
| tooer and the smallest for the pres
| ent year.
| Loans on Stocks Decline.
a decline in loans on stocks anl
| bonds is indicated in the report o d,
the Federal Reserve Board which
showed 81 New York banks decreased
ehelr advances on this collateral
100000. while totals for 743 repre-
| sentative institutions in all districts
| dropped s21.ooo.o00 to s4,425. 1000. 600.
Total decline for the quarter was
SIC, 900. 600.
Matters Before I. G. c. TO-DAY.
The Morris and Essex Railroad. =
subsidiary of the Delaware. Lacks-
| wanna and Western system. today
asked the Interstate Commerce Com
| mission for authority to build seven
miles of new line Just outside of New
York City. The construction, costs
of which were not estimated, would
enable the road to divert freight
traf1c from its passenger terminals
| at Hoboken and lessen congestion
The new line would run across tho
| Hackensack meadows and connect up
! to the two branch lines of the Morris
and Essex outside the congested dis
trict.
Local Stocks Firm.
With one exception, prices on the
| Washington Stock Exchange this
morning were decidedly firm. The
contrast was offered by Lanston
Monotype, which suffered fractional
| ly, opening at 771s and easing off
half lower on sales of % shares.
Common stock of the Washington
Railway and Electric Co, while in
active, widened the spread in bid and
asked prices to 21a points, with so
being asked in today's market. Pre-
ferred was unchanged, some odd-lot
sales being made at 7st.. Capital
Traction was pegged at o3. but Gas
was firmer, 10 shares selling at 52&.
National Mortgage and Investment.
preferred sold at 9, and so shares OF
District Title Insurance sold on the
unlisted board at 1875.
The bond level was unchanged.
| Personal Mention.
| Clarence F. Eorment, chairman OF
the board of the National Bank OF
| Washington, who is spending several
weeks at Atlantic City, will return to
Washington next Tuesday.