Evening star., 1924-11-11
RED|SCOUNT RATE
LEFT UNCHANGED
Reserve Board Concerned
Most With InfIation-LocaI
Exchange Active.
BY CHAS. Y. SHAEEEER-

IHe question OF rediScOunt rates is
not expected to be given considera-
ton at the current meeting of gov
ernors of the Federal Reserve Board
in session here this week, il was
learned from Treasury officials to-
day.
The major discussion to be carried
on is the question of inflation--it is
understood. With the AGGRESSIVE
bulge in securities and the increased
confidence Of trade and industry that
the recent election has produced. it is
hlnted the governors will take up
informally the possibilities of infla-
tlon and how best to deal with it.
Inc program of the conference calls
| exclusively for the discussion Of
routine administration matters and
problems arising in the MANAGEMENT
of reserve bank affairs. Questions Of
policy arc usually reserved for con-
slderatton by the federal reserve adj
Flsory council. which meets periodi-
cally with the governors and with
the board.
Capital Traction Higher.
Stock Of the Capital Traction Co
continued its recent advance and
scored a new high on the present
movement on todays exchange, g.,
shares selling at 9324, or a rise of
quarter point for the day. Today's
selling figure is less than ) points OF
the years high for the issue.
National Mortgage and Investment
preferred again enjoyed an active
market, a total of $40 shares chang
ing hands at Q. This issue, since list
ing the early part Of the year. has
exceeded all others in activity, with
mild fluctuations of not more than Il
point variance.
y
preferred was again a strong spot ia
the days market, % shares selling
at 1872. Washington Gas Light was
easier at 515s, as was Columbia Title
Insurance at ia Mergenthaler was
unchanged at 166, and Lincoln Ma
tional Bank sold at 341 and 342, j.
shares changing hands. Lanston was
pegged at 10.
Bonds were rather listless. Gas -
selling at 91&4, the 6s at par au1
thrce-quarters. and Railway 4s at
Philippine Bonds on Sale.
Sale Of Philippine governmc@.
bonds as part of the issue of sci
10000 authorized in 1922 was an
nounced today by Secretary of W..
Weeks. The sale involved only s
500 600 of the authorized issue an!
was made to the Chase Securitiv-
Corporation of New York at 97,57s.
Previous sale Of similar hon"-
brought 1929, and Secretary Wee
said the transaction just conclud.C
was the most satisfactory from poil
of selling price Of any Philippi
bond sale made in recent years.
War savings certificates beari:
war savings stamps of the series
1920 will be payable at the maturit
value o s. for each stamp on a
l p
der of w. Irving Glover, Third Assist
ant Postmaster General.
Registered certificates of the 1G2
series Will be payable only throuG
the post offices of registration, IL
announcement reads. Cnregistert
1920 certificates Will be payable q
post offices, but will also be general
accepted by banks and trust con
panies for payment at maturity valu
as III the case of the matured W
registered certificates of 1918 an
1919.
The war savings certificates, ser;G
Of 1920, may be presented at pc
offices before January l, but maturi
value is not to he paid until the fl
of the year.
The regulations call for the rf
sentiment of written notice 10 d;
| before payment, but this provia
money which the post office has
hand warrants such action.
Record Freight Traffic.
Revenue freight loaded durinc
week ended November l, ana!y
| today by the American Railway
| sociation, indicated a continuation
| the record movement in industry.
| Although the number of cars lo;,,
| dropped 1895 below the figure
| the preceding week, when the hic
! est figure on record was reach
| the decline was attributed TO $,
! sonal conditions. and the total,
! 013,430, was 1851 higher than I.
! the corresponding week in 1923. al
| 1919 above the 1922 comparatil
| figure.
! Loading of merchandise and leS
| than carload lots freight increas
| during the week, while the movemcl
| of all other classes decreased tt
Southern and Southwestern distriC
| were the only sections reporting gel
| eral increases in loading over t
preceding week, and the Northwes
| ern and central Western distri,
alone reported declines from the {,
| responding week in 1928.