Evening star., 1924-06-02
new FINANCING PLANS
OF U. S. PROGRESSING
Treasury department Head An
neunces First Step Taken in
Notice to Reserve Banks.
TRADING ON D. G. EXCHANGE
Report Made Of U. s. Grain Ex.
ports Past Week.
BY CHAs. p. sHAEFFER

The Treasury Departments plan
tor Its June financing. which will in
crude a new issue. are approaching
completion. The first step is the
announcement by Secretary Mellon
Ioaay that he has authorized the
tod eueraI reserve Banks on and after
deem In cash before maturity, at the
ihoiuers option. at par and accrued
interest to date Of such optional re-
aemption, Treasury notes OF series
a, "A, isz4. dated June Is. 1921, and
nattufIng nartts June Is: 1924. and Treasury
~, 1924. dated December Is, 1928. and
maturing June IS, 1924.
~ the case of the notes, il was
ronrd na,u q. the treasury Department this
1924, which falls on a SUNDAY would
De automatically advanced to June l6
Inc maturing indebtedness approx
saIIes, nales esa essda4eooo,ooo. consisting of
1ota,isi,e9o 1ota OF 5% per cent three year
SIX months certificates.
Company Shows Earnings.
The consolidated income statement
or the North American Company for
the twelve months ended April 30.
1879. shows gross earnings of s77,-
31o,274, an increase of 1885 per cent
over 1873 and net income from
OF 21:74 per cent for the year.
Balance for depreciation reserves,
dividends and surplus increased 2031
per cent to $16.5s2,470, being equal
to s4S:44 per share of $50 par value
preferred stock, and after deducting
preferred dividends to s5.55 per share
OF common stock.
The electric output for the period
amounted to 2.227.095,2S1 XIV. hours.
an increase Of 1913 per cent over the
preceding year, and the electric GUS
toners numbered 613.746, being an
increase of IL per cent.
Capital Traction Advances.
Stock of the Capital Traction Com
pany scored fractional advance to
"a on the local board this morning,
eighty shares of the security chang
ing hands. The issue was firm
throughout the session.
Washington Gas Light continued
at 48. but District National Bank was
strong, advancing to 1874 on a sale of
five shares. Other stock issues were
inactive.
Bonds were In good demand. Capital
Traetion on fives selling to the extent
general and refunding 6s brought
102k and Washington Gas 6s sold
in small denominations at 101 and
1904. Gas 5s were unchanged at
oo12 anu HlSSS 1Sedily long 0S were
traded in at 81.
Milton z. Allies. president of Riggs Ma
tional Bank, returned to his institution
this morning after a months vacation
on his farm.
Frank ]. Stryker, president of the Co.
lumbia, was also back at his desk after
a siege of illness.
U. 8. Exports OF Grain.
Exports of grain from the United
States last week totaled 2,454,000 bush
els. against 2,379,000 bushels for the
previous week.
The Commerce Department today an
nounced last weeks exports compared
with those Of the previous week as fol-
lows:
Barley. $4,000 bushels, against 277.-
900; corn. sos, 900, against 5S9, 1000; oats.
$4,000. against none; rye, 1,I93,000,
against 1,139,000: wheat. $4,000,
against $4,000; total Canadian grains
in transit, 3,451,000, against 3,S49,000
bushels; United States and Canadian
wheat -four in transit, 201 900 barrels,
against $4,000 barrels.
Railway Permit Granted.
The New York Central railroad was
granted authority today by the Inter
state Commerce Commission to issue
s25,050,000 in equipment trust certif-
Gates to be sold at 9S per cent of par.
and to be issued by the Guaranty Trust
Company of New York