Evening star., 1933-08-01
BOTH j. s. ISSUES
OVERSUBSCR|BED
Books Closed by Treasury
for Larger Amounts.
Officials Cheered.
BY HAROLD ROGERS.

With both issues of the new Gov
ernment financing oversubscrlbed. the
Treasury last night closed books on the
issue of l5s Treasury notes. and also
the books on the 3l4 bond issue for
cash subscriptions of more than $4,000.
The books will remain open for sub
scription up to and including SlO00O
on the bonds and for subscription in
which payments in the certificates
maturing on August Is and September
Is are offered in payment. :.
Dean AcheSon, acting Secretary OF
the Treasury, announced last night
that subscriptions indicated both the
half billion dollar bond issue and the
$3.50. 100000 note issue had been over
subscribed.
The Treasury offered the eight-year
314 per cent bonds in denominations
as low as $50. with the promise from
Secretary Woodin and Acheson that
every small investor who asked for
$4,000 or less of the bonds would have
his order filled
Officials Cheered.
The sale of the securities was In
tended to give the Treasury $4OO.-
0oO 900 in new money on August Is,
when they will be issued. The notes
will run for two years and carry l3s
per cent interest.
The Government will use the pro-
ceeds of the bond sale to retire $469.-
900 of maturing certificates which
tall due on August Is. and in addition
tln issue enough bonds to take care
81 any of the $45l 100000 OF certih-
Gates which mature September ID that
are offered for payment. Omcials said
they had expected the bond and note
issues to meet with popular approval
and pointed to the heavy subscriptions
as another indication of improvement
in the Nations business.
Acheson, pleased with the heavy
subscriptions, said the issues were
going over very well and both will be
oversubscribed."
The sale of the securities is expected
to enable the Treasury to have cash
balance in the general fund on August
IS of more than $1,000, 600, 900 to meet
any expenditure that may arise in the
recovery program.
Insurance Record Set.
Breaking all July records Of the
entire 88 years of its history with the
exception of the one year 1925. the
Washington agency of the Mutual
Benefit Life of New Jersey showed in
the month just closed a gain in new
''paid-for' of two and one-haf times
as much business as May. 1888: SO per
cent increase over June, 1888, and
more than 200 per cent increase over
July 1892 The agency total of $24S,-
780 new life insurance equals total
of over $4,000 per agent for the entire
agency force of II men.
John H. Snyder led on lives and
the partnership of Gibson & Scott
on amount of new premiums collected.
Business Gains Cited.
There is no ground for ascribing to
the market break any important in
fuence on the business situation, &C
cording to the National City Banks
review of general business conditions.
A table compiled of the latest figures
available gives a record OF some OF
the recognized business indexes, show
ing the percentage of rise from year
ago to the present. The showing OF
these indexes is in general the best since
early in 1881, and the productive ac-
tivity of all the industries, as meas
ured by the composite indexes making
adjustment for normal seasonal vari-
ations, has been in July approximately
equal to the peak of the Spring rise
in 1881.
The table follows: