Evening star., 1925-12-07
TREASURY OFFERS
NEW CERTIFICATES
$3.50, 900, 900 Placed on Sale
or for Exchange-Other
Local Notes.
BY CHAS. p. SHAEFFER

The Treasury made public today it's
December financing, which takes the
form of an Offering of one-year 90.
per cent Treasury certificates of in
debtedness, dated and bearing inter
est from December 10, maturing De
cember Is. 1925. The amount of the
offering is for $3.50, 100000 "or there
abouts."
The Treasury will accept in paw.
ment for the new certificates Treas
ury certificates of Indebtedness Of
10, 1925, and AS per cent Treasury
notes of series B-1925. maturing De
cember Is, 1925. Subscriptions for
which payment is made In certificates
and notes maturing December Is.
1925, will be given preferred alIot-
ment.
About s4so.ooo 900 of Treasury
notes and Treasury certificates Of in
debtedness become payable on De
cember 10, 1925. The present Offering
Is intended, with the balances already
on hand and the December tax re
ceipts, to cover Federal further cash
requirements until March when
further financing will be necessary
Return offered by the new issue ie
held fair in local financial circles
This becomes evident when cornpar!-
! sooii 10 iidue Win Otner treasury OBJ
| gatfons, namely. the long term Treas
| ury As of 1944-54, which are selling
on basis Of 3.7S, and the 412s, ma
turing September next, which are re.
turning 3.69. The new issue, offered
at par, of course, returns 3.7J
Press Club Bonds on Sale.
| Wall Street took on an entirely new
Phase or financing this morning when
| public Offering was made of Sl,GOO.-
! 600 Of I per cent general mort ga se
| bonds of the National Press Club
! which VIII be erected here on the
present site Of the New Ebbitt Hotel
ms Is the first financing ever Under
written by the Street for 4 press club
The bonds will be sold ~ par.
The club will constitute the largest
office building in Washington, contain
ing more than 200. 900 square feet Of
/ rentable area, with an entire property
appraisal of $3.50 600. Based on
| leases already signed and applied for,
the property is calculated to bring in
| gross rental of 81 040 900, equal. it
| is said. TO a substantial balance after
| all expenses and fixed charges, includ-
! Ing bond interest.
Insurance Man Honored.
| Holcombe q. Johnson, senior part
ner of the local insurance firm of
! Johnson & Adams. was elected a
trustee of the Insurance Federation
| OF America at the annual meeting Of
the federation at the Hotel Astor in
| New York last Saturday. Mr. John
| son is also a member of the execu-
| tive committee of the National Asso-
citation Of Casualty and Surety Agents
Radio Industry Grows.
! The remarkable growth of the ra :
| dio industry in the last five years IS
| reflected in a study prepared by Doni-
| nick & Dominick. investment bankers
| and brokers, showing business this
year Of approximately $500 900 600, an
| increase of so per cent over 1924. and
comparing with only $4,000 900 IN
| 1921.
There were $3.50 600 sets in use in
1924, while today il is estimated the
figure has reached 5000. 900. The de
velOpment has not been confined to
sales in this country, it is stated ex
ports of radio products for the first
half of the year having amounted TO
s4.06S.442. against s1.s26.246. with
shipments to 75 different foreign coun-
tries.
Trust Executives to Meet.
Trust company executives of the
United States will hold their fifteenth
anual banquet at the W aldOrf-AStOrla
Hotel. New York, on February 1S
1926, Frank II. Sisson, president Of the
trust company division of the Amer
lean Bankers Association and chair
man of the committee on arrange
ments. announces. The New York
State Bankers Association has decided
to omit it's customary banquet this
year, leaving the trust company func-
ton the only large financial gather
ing of this character to be held in
the metropolis this Winter
The banquet will come at the close
of a two-day session of the seventh
Midwinter conference of the corporate
fiduciaries of the country.
Railway Common Again Climbs.
Sales of 40 shares of common stock
of the Washington Railway and Elec-
trio Co. resulted in another new high
for the stock this morning, the peak
of $50 being reached on the conclud-
ing sales of 20 shares. At this price
the issue returns exactly 2 per cent.
Potomac Electric Power preferred
maintained a steady tone at 104I4
with the interim receipts of this stock
selling at 103. Railway preferred was
firm at CO.'S, but Lanston Monotype
was off slightly to S4a4. Capital
Traction trading was restricted to .
shares at 103.