Evening star., 1925-04-03
i. S. PUBLIC DEBT
IS S20,441,477,0)3
Pairing of $12,744,161 Ef-
fected in February-Bid-
die Placed on Board.
BY CHAS. p. sHAEFFER.

The gross public debt of tins
United States on April 1 amounted 70
$50, AL, ,477,0o3, a decrease of sl2.74f,-
l6l in the month. s737,779,524 in the
last year and S5,037, ,115,110 since Au-
gust 81, 1919, when the war debt waa
at it's peak. These totals are minus
the net balance in the general furd
on the respective dates.
total OF $16,S42, $50. or approx
lmately rs per cent of the gross. q
made up of bond obligations, of which
sl4,265.9 5.956,950 is in wartime issues;
S1oo,3l6,0l0 in pre-war and postal
savings issues, and s1,S11, ,036,SoO in
later long-term issues.
Treasury notes outstanding total
400, including adjusted serv-
Ice certificates to the amount of $50
OOO,o0O. Treasury certificates unre-
deemed amount to $565, ,5S1 500 and
Treasury (War) Savings securities
outstanding amount to sS9O,169.52S
The remainder of the indebtedness
is made up of s27,5S7,24o of matursd
obligations on which interest has
ceased, and $296,29O,278 of deposits
for retirement of currency, old de-
mand notes and fractional currency.
Trading on Local Board.
Railway preferred stock began A
spurt on the local market today, re
sultfng in an exchange of 2S4 shares
and net gain of l n points, to So.
After the initial sales of odd-lot
shares, trading became Accelerated
and ended in transactions in so and
100 share lots. 1t closed strong at g.,
with the same figure asked
National Mortgage and Investment
preferred recovered fractionally to
81 on sales of 20 shares, and Ian
ston Monotype also gave evidence Of
strength at 81. Gas stock, however,
remained easy at 5S9s and 58h
The bond department was quiet,
sales of Gas IS at 994, Georgetown
Gas 5s at 92h and Railway refund
ing 6s at 1919 being the only trans
actions.
John N. BiddIe, secretary and man
ager of the Racquet Club, has been
added to the directorate of the Mer-
chants Bank and Trust Co.
Mr.. Biddle is well known. For 10
years he was active manager of the
Metropolitan Club. Prior to that
time he was for many years as
sistant chief clerk of the State De
partment, and previously was secre-
tary to Senator John Payne of New
Jersey. He was one of the founders
of the Racquet Club and has been
associated with that organization
since Its inception.
Reserve Banks Report.
Seasonal credit demands in the
Richmond Federal Reserve district
were reflected by a drop of SIS per
cent in the ratio of total reserves to
deposit and note liabilities shown in
the April l statement of the institu-
ton The ratio stood at 67-57,
against 7o.52 the previous week. This
compares with a ratio of 1854 per cent
for the system as a whole.
Harold H. Levi, for many years
general manager of the Hecht store
in this city. was made a second vice
president of the Hecht Corporation,
which also has stores in Baltimore
and New York, at a recent meeting
OF the board of directors. AT the
same directors meeting Nose Good
man, general merchandise manager
of the Hub, one of the Hecht stores
in Baltimore, was made secretary of
the corporation and Malcolm Hecht
treasurer. The last two officers fiji
the vacancy made by the death of
Emanuel Hecht, who was both secre-
tary and treasurer.
All three men elected officers of
the corporation are in their thirties
and will continue in their present
capacities with the local stores be-
sides serving as officers in the cor
poration.
Mr.. Levi reported yesterday that
the local Hecht store had greatly in
creased the amount of business here
since the war period. Mr.. Levi was a
founder of the Better Business Blu
reau and a former president of the
Advertising Club here.
Personal Mention.
w. ]. Waller, vice president of the
Federal American National Bank, has
been added to the board of directors
of the National Mortgage and Invest
ment Co.
Joseph G. Stephenson, genial assis,
ant cashier of the Franklin National
Bank, in charge of discounts, is re-
cefVing congratulations from his
many friends in the financial district
on his return from Atlantic City, where
he played principal role on
honeymoon excursion. Mr.. and Mrs
Stephenson are at home at 30II Dent
place northwest.