Treasury oversubscribed at record level for 5 percent certificates
Subscriptions to the 5 percent Treasury certificates of indebtedness closed last night and are reportedly exceeding 475 million dollars, far above the 200 million dollar minimum. Secretary Mellon announced preliminary figures from the Federal Reserve banks showing strong demand and abundant investable funds.
MENTIONED IN THIS ARTICLE
Hym
Booker, Jr
Treasury
Mellon
Federal Reserve
Washington Railway and Electric bonds trade dull yet firm
Washington Railway and Electric 4s bonds traded at 61 on $8,000 face value with bids at 62 and 61 offers. Washington Gas Light notes sold around 101 and other utilities showed mixed activity while Capital Traction remained lightly offered with bids near 87 to 88. Public utilities and financial listings reflected steady to firm prices, with regular call loans at 6 percent.
MENTIONED IN THIS ARTICLE
Washington Railway and Electric Company
Washington Stock Exchange
Washington Gas Light Company
Washington Railway Andlectric
Capital Traction
Washington Railway & Electric
Issu Hingéon’ Gas
Bia
A. & Pot
River Guards
Ee & P
Metropolitan RR
Iggs Realty
American Tel
Tel
Rights Capital Traction
Wash
Wee National Banks
American
Columbia Commercial District
Farmers Federal Liberty Lincoln
Washington
Trust Companies
Amer. Security & Trust
Continental Trust
Nat. Savings & Trust
Union Trust
Wash, Loan & Trust
Savings Banks
Commerce
D, C
Mfg
Collington Monotype
Merchants Tir. & St. Mergenthaler Linotype
Old Dutch Market
Security Storage
Federal Reserve issues oversubscribed. bankers push for lower rate
National and district reports show ten of twelve federal reserve districts oversubscribed the new issue, with Treasury officials likely aware of demand. Banks debate taxing income from tax-free securities, while Washington bankers back Treas ury appointee S C Graham to the Richmond Fed directorship. Debits in Washington slightly down week over week. nationwide totals rise due to end-of-month payments. Bank expansions in Washington add safe deposit space, and Frank P. Harmon forms a half-million-dollar coal company in West Virginia with multiple coal ventures.
MENTIONED IN THIS ARTICLE
Federal Reserve
Treasury
Waders
S.C. Graham
National Electrics Supply Company
Federal Reserve Bank of Richmond
James Foyster
District of Columbia Bankers Association
Graham
Banking Fraternity of Washington
Chearing House Association
George C. Watson
White Sulphur Springs
W. Va
Washington
Federal Reserve Board
Safe Deposit Department
Union Trust Company
Security Savings and Commercial Bank
Bank
Ninth Street
Frank P. Harmon
Commercial W Natonal_ bank
Norfolk and Western
West Virginia
Harmon
Turkey Gap
Pocahontas Collieries Company
Lynn Coal & Coke Co
Puritan Coal Corporation
Also Mentioned on This Page
Paradise Water
Paradise
Paradise Spring Company
Brunswick
Maine
Cornwll
Dorfman
Columbia
John H. Magruder
Connecticut
Charles MecColvin & Co
14Th Ft
W J, A. Brosnahen
20Th & WN Sts
J. M. Beall
Calvert H. W
Wardman Park
Conn. Ave
Woodley Rd
H. Ridgeway
Florida Aves
Swift & Company
United States
France
England
Philippines
Hawaii
Alaska
Swift
Brookfield
First St. N. BE
D. T. Dutrow
Post
Treasury Notes
Indorse
E. C. Graham
Fator Hin
Reserve Bank
Local Stock Exchange
NewWorks
Texas
Georgias
North Carolinas
Delawares
Virginias
Norfolk
Floridas
South Carolinas
Lsnoys
Orange
Gattfornias
Yorks
Bunch
Carolinag
Crates S
E.C. Graham
H Street
N. W
Hart Schaffner & Marx
Raleigh Haberdasher
Pennsylvania Avenue
Wee Ey
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