Evening star., 1924-08-06
MORE GERMAN AID
NOW HELD LIKELY
U' S. Bankers May Make
Loans to IndustriaIists.
Local Financial Notes.

soth Government and financial cir
oies mere were interested today in
reports from New York that interna-
tlonal bankers are not only looking
forward to the fotation in the United
states of 100000 900 of the 5000 oOo-
ooo external German loan, which will
pobably be offered under the Dawes
plan, but are feeling out German in
dustrialists with a view OF deterrnin-
ing their credit needs
NO specific pronounceme-t has been
forthcoming from Government of
ncials as to what attitude the admin
istration may be expected to assume
There were indications, however, that
In view Of the hopes held by high
omclals as to the ultimate outcome
or the reparations conference now on
IN London, the Government would not
be expected to take any steps looking
toward any dtscouragem of Ameri-
can investors in the advance of credit
10 Germany or to individual fnan-
ciers.
In fact. it has been stated in some
guaters it would be a help to the
United States should the surplus of
iLCAo mere, anu U6SCTlD6O DN sew
eral officials as "unwieldy" be allowed
to find its way abroad. under ade-
quatc security.
Bonds Lead Local Trading.
Trading in bonds featured the
Washington Stock Exchange today,
several blocks having changed hands
at good prices. Five thousand dol
lars worth of Washington Railway
and Electric preferred 6s went at
Ss4. Activity was light on the stock
side. a few Capital Traction share
going at s4h.
$2,0OO,O0O Bond Issue Asked.
The Chicago Great Western Rail
road today applied to the Interstate
Commerce Commission for authority
nominally to issue So 1000 of its first
mortgage per cent bonds to reimburse
its treasury for money expended from
income.
Within day the issue of $4,000
600 Kingdom of Norway bonds, of
fered yesterday morning by a syndi-
cate headed by the National City
Company, was oversubScribed.
Spurious 500 Note Found.
Banks and others concerned were
warned today by Chief Moran of the
secret service of the Treasury of a
new counterfeit 800 Federal Reserve
note detected by the Secret Service.
Bank of San Francisco. series of 1914
1t is described in part as follows:
Check letter, c; face of plate. No. /:
back plate, No. IS: John Burke, Treas
urer of the United States; D. F.
Houston, Secretary OF the Treasury:
portrait of Franklin.
This counterfeit says Chief
Moran. lis printed from photo etched
plates on three pieces OF thin paper,
with coarse fiber between the two
pieces next the face of the note. The
color Of the seal and numbers is good,
and in general appearance the note
is fairly deceptive. The number of
the specimen at hand is L726042A."
Lord Pushing Budget Work.
Director Lord of the Bureau of the
Budget, just returned from part Of his
vacation in Maine, has plunged into
the task of handling the preliminary
estimates for the Governments fiscal
year 1885. Gen. Lord and his as
sistants expect to have the first a.llo-
cations to departments and establish
ments ready by the middle of the
month.
The total of these, it is expected
will be not more than S1.so0,o0o.00o
exclusive of principal and interest on
the public debt. and the operation Of
-!-a Post once Department.
Gen. Lord, following this first part
of the work on estimates for the year
l925-26. Will probably return 10 Maine
for few weeks while the departments
are preparing their final estimates.
which. under the law, are due Septem-
| ber Is.
Export Methods Explained.
The Federal Trade Commission yes
terday outlined to the American Silver
Producers ~, Sociation the methods an
| American export aSSocia ton may use
| under the terms of the Webb-Pomerere
act The commissions majority view
| on the subject was given in letter
| to the associs ton, which meets in con-
vention at Salt Lake City today TO con-
slider among other questions. the for
nation OF an export corporation.
Answering questions propounded by
a committee of the producers the
/ commission indicated that an export
association might, without violating
the law, engage in allotting export
orders among its members and fx
bers shall sell in export trade Tha
| letter made 1t plain, however. thas
! the statements of the commission
were merely advisory.
Personal Mention.
Coleman Jennings of the local Office
Of the National City Company is ba *
from several weeks in Europe. He
! was attached to the American tennis
team in the Olympic games, spending
most Of his time in London and Paris.
~ B. Rosenberg, president of the
Bank of Commerce and Savings, Is
| spending the month of August at Lake
Hopatcong. n. ].
Frank owen, assistant cashier OF
| the Bank of Commerce and Savings.
| is on vacation at Atlantic City.
Gasoline Prices steady.
Department of Interior reports on Il
| falling off in the production of gaso-
line during the month of June were
| not of serious concern here as
| possible Indication of an early rise
| in prices. The decrease is a usual
| thing for the Summer months, it was
| explained. The total production by
refneries was 59S,192 gallons a day
| lower than in May.