Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-08-05
TREASURY SHOWS
BOND FLOTAT|ONS
Exhibit Made of Approx
mateIy 81 Per Cent Of Ma
tons Indebtedness.
BY CHAS. p. SHAEFFER.

Bond flotation. principally wartime
issues. constitute approximately 81
per cent of the gross Indebtedness of
the United States, which. on July 81,
last, amounted to $40 ,487, 237 1874 81
statistics made public by the Treasury
Department show.
This class Of Indebtedness, on July
81, totaled sl6.832 .524 900, which in
cludes $l4.255. 933 $50 Of first, second,
third and fourth Liberty loans; S1.S11,-
036, 800 of Treasury bonds of 1947-52
and l944-54. while the remainder. or
5 50 ,554 $50, consists of consols OF
1880. the various Panama issues, con
version bonds and postal savings
issues
Under the heading of notes
which constitutes paper maturing in
not less than one year and not more
than five. is found a total of 81 ,404,-
241 400, which includes all Treasury
shortt paper and $4,000, 900 of
adjusted service series which natures
on January /, 1880.
Next comes certificates, or paper
maturing in one year or less These
obligations total S577 ,2S5 600; S44 600
600 are adjusted service ceA ificates
maturing on January j, next. the re
mainder being Treasury certificates Of
| Indebtedness. fioated TO tide the Gov
eminent over disbursement periods
when the cash balance IS inadequate.
Treasury war savings securities, in
Guiding thrift and savings stamps, are
outstanding TO the extent Of S3S4,
532, 14O.98.
In addition to the above. all Of
S2S8 900 900 of Indebtedness which
bears no interest. OF this amount
| $50. 414700.26 represents issues on
which interest has ceased, while the
remainder bore no interest. The lat
ter consists of United states notes
less gold reserve, deposits for retire
ment of national bank and Federal
Reserve bank notes. and old demand
notes and fractional currency.
w. X. & Il. at High Peak.
A new high peak which takes
/ precedence even over the highest fig
! ure reached prior to the 20 per cent
dividend declaration a few weeks ago
was established by common stock of
| the Washington Railway and Electric
| Co. this morning when 10 shares
were bought at 100
Such an unprecedented level can
hardly be attributed TO accumulation
+ of the issue by the North American
| Co, whose ventures in the local trans
portation field today has been far
| from costly. In view of the business
acumen displayed on more than one
| occasion by this company it is ridiCu-
| lous to assume it would be willing to
pay $50 for an issue which returns
only per cent and which relies on
a subsidiary to pay its bills.
One share of Railway preferred sold
! at So, its recently established peak,
| while Capital Traction sold at par and
an eighth. Lanston brought S4aa, and
! National Mortgage and Investment,
| preferred, 9i2.
Encoura ging Features Cited
/ Three encouraging features Of the
week in iron and steel are better rail
road buying. a fair increase in orders
! from manufacturing consumers of
steel and in some cases from jObberS,
and d net gain of one in active blast
| furnaces in July after four months of
| losses, to a total. of 60, Iron Age says.
! Last months pig iron production
! showed the smallest loss in FIVE
months, pointing to a probable upward
| turn, even though slight, in August.
| The July total was > ,664 024 tons. or
| $685. tons a day, against 1913 ,457
tons in June. a 30-day month, or So
| 1l5 tons day"
| Production of bituminous coal for
| the week ended August l amounted
| TO about 100000 net tons, according
! TO estimate released today by the
| Bureau of Coal Economics of the Ma
! tional Coal Association. This CON
tinues the upward movement of pro-
| duction which has been in evidence
| for a number of weeks. 1t exceeds
by nearly $50 900 net tons the output
| for the week of July 25, which was
| estimated by the Department of Com
merce at 9,255,0O0 tons.
! Last weeks output is the largest
| since the week of February IA.