Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-19
Exchange Agency Busy.

ent holders prior to July /. 1920. I'm
der the plans Of loan liquidation.
debt certificates arc being given 20
present holders of these securities
who held them prior To the above
date. that the now securities are
in gold German marks. Persons hold
ing the bonds prior TO July Of 1920
will obtain much higher value in ex-
change for new paper than those who
purchased AFTER the date fixed by The
Dawes commission. The National
CITY Bank, at New York, is depositorN
in the United States for these seCtrl-
ties
Russian Debt Puzzles.
Suggestion from Moscow that The
Soviet government may consider &C
acknowledgement of the Kerensky dept
10 the United States. but not the
czarist debt has raised the interesting
question here as To how negotiations
might bc conducted providing Eusssia
should desire to pay. The United
States has not recognized the SOVIET.
and hence there is no diplomatic nor
official contact between the two. Inc
Treasury, il was said today. could
scarcely consider negotiating directly
with the Soviet through the American.
Debt Commission unless there Wa~
some further clearing up Of the status
of Russia through the State Depart
| ment II might involve the Nat GueS-
ton of recognition of Russia as GOV
eminent before any official neEotia
tions could he carried on. according
| to one authority. How. for instance.
could the American Debt Commission
! at present deal with an authorized
! representative of A government which
| is not even recognized by the United
| States is q question which has been
/ going the rounds of ofticialdom.
The Kerensky debt, according TO
! Moscow officials. is considered To he
| about half of the listed indehtedness
| of Russia to this country. The total
according To Treasury books. is $lS1.
! 729.75O. which was loaned to RUSSIA
/ between May and October l9l'. Nr-
| cording TO Moscow calculation. IN"
Kerensky debt is revolutionary debt.
! coming after the overthrow of the
| Car. in February. 1917. The holshe.
! vik revolution occurred in October Of
| that year.
| Report on Hungary.
! The final report of Jeremiah Smitn,
f! jr., commissioner general Of IlunGar}.
, who recently declined any Compensa
ton from the Hungarian governments
for his services as commissioner gen
eral. shows for the year ended. June
80. 1926, receipts from revenues
pledged for the ~ reContruction loan
of about $52 200 900. or approXmdtelE
| eight times the annual interest ana
sinking fund requirements Of the loan.
The budget surplus Of Hungary for
this period was over $12,5O 600.
Magis,erial district bonds Of Herrv
County. Va. il was announced TO-DAY.
SOLD at Martinsville. in the sum "f
! $4,000. at fraction over } pei
cent interest. with total premium Of
S17S2 for all of the district MaCnuS
& Co. Cincinnati. Ohio. purchased
the Martinsvile magisterial district
| bonds at premium of S904. and the
| Ridgeway district bonds alta premium
Of $4s At rates Of interest ~
Is per cent and S'4 per cent.
respectively. G. w. MCNear 4
Co. Chicago. bought the Horse
pasture s35 900 bonds for A pre-
MUM Of s3a1.6o and the Reed
Greek district bonds at a premium
Of 1901 40 At ) per cent interest.
Splitter. Rorick & Co. Toledo. Ohio.
made the best hid on the Leather
wood and IrishurG districts for
premiums Of S1O7 and $40 for totals
of $4,000 and $4,000 in bonds A. 'is
! per cent interest
There were u representatives #
!
bids were opened. The bids we're
close. The Henry County School
Board considered the prices paid for
the bonds as satisfactory.
The volume of business in the ma
chinery industry in August viii he
larger than expected. based on orders
received since the first of the month.
American Machinist reports. Railroad
and automotive orders have met with
I tt,{- l, 6eA 0ffS ~
increased buying on the part of indus
trials. manufacturers of agricultural
machinery and the construction equip
ment field.
Southern Railway Advances.
During the first six months Of lho'
1.-The Southern Railway system moved
lvolume of revenue freight equivalent
Ito carving 1899 800 900 tons dis
Itance of one mile il was announced
today in a statement which declared
1.-THE system stood fifth in gross operat
ling revenue and third in net railwat'
operating income for the first half Of
the year.
This advance Of Southern Railway
system" said the announcement. in
to the front rank of great America u
railroads has been steady and Consiz'
ent II tells the story of the awakening
and Iustv growth of the new South.
The prosperity of this favored region
and that OF the railroads must 60 -.
gether."
The tonnage Of freight carried y
was explained. made up OF agriculture
products. raw materials and finished
goods, is the token of general pro.
perity in field and factory"
&c. c. Action.
The Interstate Commerce Comm
sion was asked today TO approve =
plan for reorganizing the> Northwes'
, ern Terminal Railway Of Col6rado
! which is under lease TO the Denver
and Salt Lake.
The Northwestern Terminal Raj
road would be formed under the plan.
and authority was asked TO issue
s2.217 900 Of first mortgage per cert
income gold bonds and 2,217 o0o
shares Of common stock without par
value.
The commission disapproved pro
posals TO increase freight rates from
points in the Scranton and Williams
port Pa. territory TO central and
5 western trunk line destinations.
With certain restrictions, however
the roads were permitted to continue
> rates which do not observe the lone
Z and short haul provision.
Proposals to increase rates on can
? ned goods from La Crosse. Wis. Win
ona. Ninr.. and points grouped viii
those cities To Danville and Spring