Evening star. [volume] (Washington, D.C.) 1854-1972, 1924-12-04
HEAVY CUT MADE "
IN i. S. GROSS DEBT
Treasury Reports Total Nov,
Over S21, 100000, 900. =
Local Stocks Advance.
By CHAS. y. SHAEEEI.n

f 'hHS- y. SHAEEFER.
The total gross Indebtedness or ta,,-
LHited states on November -. 1874,
amounted to s21,2I3O55 96G ~
cording to statement mad nuIjf,
treasury officials. This amount r..i,,,s
resents pairing OF SS42 4G5. So
for the 12-month period ending VIII.
november, and Il decrease Of So
3SS,646.3S2.oS from the war p,;...,
gross Of SIG, $500 OF on Angus. =.
81 1919. The net balance in ia:
general fund on November 20 r4o5a
totaled S247. 633, 1885,
Bond obligations amounting 10 Slf.s.
oo7, 022,56o, including wartime issu (
or more than $14, O0o. 600 600, constf-
tute approximately - per cent az
the country's gross Indebtedness
Treasury notes follow with s3,35I.-
62S,3o0 outstanding. Treasury or
tificatss uHredeemed total Sf.T7a.-
$4,000. and Treasury war saving
securities are outstanding to the O.
tent Of %s16,l5l. SJ9.69. The mature
debt on which interest has ceasas5
amounts 10 s1T,06s, 1926. while tin.
national debt which bears no iutere-z
amounts 70 S244.715.376.9S.
4. 8. Bonds Oversubscribed.
Subscriptions to the Treasury's p,-
cember Offering per cent bond,
1885. has been 50 largely oversuh
scribed already. it was officially an
nounced that books viii be closed to-
night, to purchasers By cash and Dc
cember 10, 1924, certificate.
The Offering. placed on the market
yesterday, from which the TreasurE
expected to obtain about $500 900 goo
in cash, had been taken, the Treasury
statement said, in an amount ALREADY
exceeding S50O.0G0,060 for both cash
and certificate purchases
SrIhSrriprf,p r.ra;,y.I III
eral Reserve banks, the Treasury eN-
planned, however, by 10 o'clock Sat
urday and mailed before midnight
Thursday, December 4. Will be deemed
to have been presented before the
books closed" The exchange sub
scriptions for which Treasury AZ per
cent notes. maturing March Is, 1925:
Treasury per cent certificate, matur-
ing March Is, 1925, and third Liberty
loan "A bond are rendered in pay
ment. will remain open until further
notice. Since aIlotments on these ex-
changes will be made in full, holders
of these securities to effect exchange
and acquire the new Treasury per
cent bond
Bank Declares Dividend.
Directors OF the Merchants Bank
and Trust Co. yesterday declared their
regular semi-annual dividend of per
cent. pay dDIe on January ]. 10 STOCK
holders of record December 90. The
disbursement will total $4,000 on the
$1,000 600 capitalization
The institution is rapidly taking its
place among Washingtons largest
banking houses. With three branches.
the bank has total assets of $3.50
1912. Deposits on October 10 last
totaled $7,612.373.1S, while the surplus
and undivided profits account on the
dat 4aI
Club Elects Officers.
The annual election of officers of the
Federal-American Club was held yes
terday, attended by all the eclat and
gusto of a national contest. When
all returns were checked il was found
that Joseph D. Yerkes had been Sc
lected as president for the ensuing
year. with Mrs. Florence Hoskinsou
as vice president. Miss Frances orri-
son was named secretary and W. J..
Sanderson treasurer.
The Federal american Club is the
social organization of the bank
whose name it bears. Every officer
and employe is eligible for member
ship, with officers of the bank dis
barred from holding office in the club.
Dues of 90 cents per month are ex-
acted from members. One business
meeting IL ileiu each illplltiir Nl4ltc
pleasurable gatherings are held at
spasmodic intervals. The club boasts
100 per cent membership.
Upturn in Local Stocks.
sharp upturn which carried rail
way common to new high at SSlz
featured trading on the Washington
Stock Exchange this morning. Fifty
shares were dealt in at this figure,
while the spread" was lessened to
point. as the session closed SIS and
SO. being, respectively, IBID" and
asked
Washington Gas Light shared in
the advance, 10 shares selling at So,
while Railway IS were also in &C
tive demand at high prices, q total Of
$4,000 selling upward to &c, a net
gain of half point for the day.
Capital Traction was firm at SO. as
was Railway preferred at 1885. Ma
tional Mortgage and Investment, pre-
ferred sold off to 9 after opening an
eighth higher, and Washington Loan
and Trust Company brought $50. One
share of Mergenthaler brought 1877.
Bonds, other than Railway As, were
dull.
Bond Issue Sought.
Permission to issue 5 per cent
equipment trust notes aggregating
$4,391, 900 was sought today from the
Interstate Commerce Commission by
the Wabash Railroad, to finance new