Evening star., 1925-05-15
TREASURY ISSUES
CALL FOR FUNDS
Bankers Honor WaIker-NeW
Bank 0pened--0fficers 4,
Named by Institute.
BY CHAS. p. SHAEFFER.

Banks of the Nation are paying
S56, ,l33900 into the United States
Government today, representing 162a
per cent of the proceeds on deposit
arising from the March Is sale of
Government paper.
This financing took the form Of an
additional issue of ten 30-year 4 per
cent bonds and several hundred mtH
lions of Treasury certificates. series
I'D, 1925, bearing per cent interest.
To date about As per cent of the COM
bined isues have been called in, leav-
ing $159, 9,S01, 500 of bonds and S12O.-
868,000 Of certificates still on deposit
with banking institutions which abb
sorbed the securities.
Trading on Local Board.
Washington issues were lIstless on
the local exchange this morning. Rail
way common sold off point 70 ia
on single sale Of 10 shares this he
ing the only change in levels to which
particular interest is manifested.
Capital Traction transactions were
restricted TO odd lot sales at 95, and
Gas was quiet at 565a to sea- Ma
tional Mortgage and Investment pre-
ferred held firm at 81. Firemens
Insurance sold at 26, District Title
at 1912 and Washington Title at Sis.
Bonds were unchanged.
Exchange H0nors A. f. Walker.
Cognizance of the death Of Allan Z.
Walker. member of the Washington
Stock Exchange, was taken at the
daily session today Eugene L. Thomp-
son, president of the exchange. named a
committee consisting of A. k. Paris,
John L. Edwards and c. j. Gockeler
to attend the funeral, while a floral
tribute from exchange members was
dispatched to the home Of the de-
ceased. Also the usual adjournment
today was supplemented by a special
adjournment TO his memory.
Institute Elects Officers.
Election of officers Of the local
chapter. American Institute Of Bank
ing, was held at the chapter rooms
last night.
True to schedule r Jesse CLANCY,
credit manager of the Commercial Ma
tional Bank, was elected 10 the pres
idency, and T. Hutton Leith of the
Security Savings and Commercial
was made first vice president. Both
these officers were unchallenged.
Joseph D. Yerkes, special assistant
to the president of the Federal
American, was named second vice
president: Garrett NJ. Van HOesen of
the Second National was made sec
retary, and Alfred ". Sherman of
the American Security and Trust Co.
treasurer. Elmer O'Hara of the
Seventh Street Savings Bank was
made assistant secretary and A. Z.
Henze of w. B. Hibbs & Co. chief
counsel. Harold w Burnside. retir-
ing president of the chapter: George
NJ. Irelan and Catherine VI. Krieg of
Riggs National We're elected TO the
governing board to serve two years.
Nax,- rrI,r,,,.- n,o,, noa~-
The Central Savings Bank. the new
institution organized by Francis Al.
Savage, formally opened this morning.
The interior, newly furnished and
lavishly decorated with flowers, pre-
Sented a fine appearance. Officers
and directors were on hand to greet
customers, and a goodly amount or
business was being transacted. The
bank will remain open until 9 pm. to-
night.
Young Bankers to Debate.
The debating team of the local chan
ter. American Institute of Banking,
+, will compete with the Baltimore ag-
gregation in Baltimore tonight on the
| subject, Resolved That the electoral
| college of the United States should be
| abolished" The local contingent is
| composed of c. F. Schatz. August
| Henze, John Francis HilIyard and
| Thomas J. Groom. Dinner will pre-
cede the debate, which Will be followed
| by a dance.
Railroad Rates Before I. c. C.
Eastern trunk line railroads petit
toned the Interstate Commerce Com
mission today to consider rail earn
ings in connection with its pending
investigation into the existing gen
eral rate structure. The commission
recently asked carried and industrial
interests to advise it as to procedure
and objectives in making its general
inquiry. ordered by the Hook Smith
congressional resolution.
In a joint statement the carriers
asked the commission to consider the
extent to which the existing rate
structures are failing to produce the
revenue for the carriers, which is
required" and that readjustments
should be made in order that the
revenues of the carriers may be made
to correspond" to the requirements
Of fair return on the value of their
property and service.
"It would seem an unwarranted
conclusion that there is need of ANY
revolutionary readjustment of rates
as among commodities or as between
the parts Of the country"