The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-06-20
EXTEND TINE ON
LIBERTY BONDS
By RICHARD HATT0N

Holders of Second Liberty Loan
4 per cent and Second Liberty Loan
converted AZ per cent bonds are in
terested in the recent announcement
of Secretary Mellon and should keep
in mind that the time for exchang-
ing these bonds has been extended
and that, If they have not acted al.
ready. they have until the close of
business on June 80 to make their
exchange
According to a statement by the
Secretary of the Treasury, thou
sands of holders of Second Liberty
Loan bonds already have availed
themselves Of the exchange offer but
there are, also, thousands of holders
of these bonds who have either not
been made aware of the exchange or
have failed to act. The extension of
time is made in the interest of this
class of bondholders.
According to returns received by
Federal Reserve banks, exchange
subscriptions up to June IA totaled
$170.0O0,000, approximately. Such
subscriptions have been received
steadily at the rate of $12, 000, 900 a
day, and, with few exceptions, in
comparatively small lots. Attention
~ CdllSu PARTICULARLY 10 the IdCL lIIdL
there has been a marked absence of
large blocks such as were offered
in exchange for Treasury notes in
March last. OF approximately ST.
$50 ,000, 900 of bonds offered~in March
In exchange, no less than SLOPE
000. 900 consisted of $1,000" and
higher denominations.
It has, also, been announced that
holders Of Second Liberty Loan As
and ANS, who may not wish to ex-
change them for the new Sss per
cent Treasury bonds, will have an
opportunity until the close Of bust
ness on June % to sell their hold
ings direct to the Government, with
the understanding that the lowest
offers may be accepted, If satisfac-
tory to the Secretary Of the Trea-
sury. This procedure. it is pointed
out. will save commission charges
to the seller and to the Treasury!
William A. Hill has been elected
n member of the board of directors
Of the Federal-American National
Bank to fill the vacancy caused by
the death of DIR. Ralph Jenkins.
The new director of the Federal
American is one of the best-known
business men in Washington and
Il head of the real estate firm Of
William Hill & Co.
Mr.. Hill is a native of MARYLAND
but he began his business career
here at the age of is in the count
ing room of the Woodward & 10th
rop store, where he worked for four
years. In 1895 Mr.. Hill started
uoon his real estate career as
clerk with the firm Of David D.
Stone. later becoming a salesman.
He was after this connected with
the firm Of Stone and Fairfax.
In 1900 Mr.. Hill. although not
yet 25. purchased a half interest in
the real estate business of David
Moore. becoming partner. This
name of Moore & Hill in 1902. At
about this time Mr.. Hill bought the
interest of his partner and became
president of the corporation. retain
ing the old firm name. HIT is, also,
president of the w. A. Hill Con-
struction Company and has been
instrumental in the erection Of some
of the finest homes in the District,
as well as in numerous subdivision
developments.
The current issue of the CONNER
cial National News. issued monthly
hy the employees of the Commercial
National Bank. contains an article
by Judith NJ. Fishburn. which is
Of especial timely interest. The
article is under the caption. THE
Service Charge: Results to the Gus
toner and to the Bank" and is a
comprehensive discussion of
question which is now occupying a
great deal of serious attention upon
both the bankers and the banking