Evening star., 1941-03-25
S8O,27O,SOO Worth
OF Baby Bonds Sold
Here in 6 Years
S14,279, SIS Invested
By Capital Residents
In 1910 Alone
BY EDWARD c. STONE.

us <TS FNtObS
BY EDWARD {. STONE.
During the past six years Wash
ingtonians have bought United
States Treasury baby bonds" hav-
Ing total maturity value of $50. .270,-
800, according to a report from the
Savings Bond Division of the Treas
ury Department.
an 1910 alone, thrifty District of
Columbia residents invested a total
of S14279,525 in baby bonds. the
next highest total during the six
year period.
Beginning in March, 1885, sales
IN the District Of Columbia during
the rest of that year totaled $685.
375. In 1886 the demand for these
bonds bounded upward and S24,712,- =
us was invested during that year
in the Capital.
In 1887 the Washington total
reached S9015,6OO, in 1888 the total
advanced to S9,834 500 and in 1889
climbed much higher to S12 ,92O,525
During the six years the Treasury
advertised the bonds investment
merit very extensively all over the
United States and the results in the
Capital and everywhere else were
astonishing
During the six years Maryland
residents bought baby bonds having
a zmaturltY value of S57 .593 400, in
vestlng Sl7937,2O0 in 1910 alone. In
the same period VirglnlanS bought
baby bonds with a total maturity
value of So 005 $50. In 1910 people
in the Old Dominion State invested
SIS 1889 $50 in this issue.
tThe figures are especially interest
Ing in view of the coming defense
bend issues. one of which. Treasury
officials say, will be very similar to
the present baby bonds. They come
out May l.
! Brokers Make Novel Report.
.Tht New York Stock Exchange
firm of Merrill Lynch, E. A. Pierce
63 CasSatt distributed a very inter
esting and novel annual report to
Washington customers today. Con-
tanning a host of facts about the
firms business, it is said to be the
most complete report of the kind any
brokerage house ever put out. In
the past, reports of any kind by
brokerage concerns have been rare
The report reviews the merger
which brought three firms into one,
George A. Garrett becoming a resi-
dent partner in Washington and
Joseph H. Hines a special partner.
On account Of very light trading on
the New York exchange and heavy
merger expenses, the company lost
money for a time. but had a net
profit in the last quarter of $4,000.
the report says. Commissions were
reduced and service charges on in
active accounts were dropped during
the year.
An advertising campaign costing
$4,000 was so successful that it
Will be expanded this year, Charles
E. Merrill. senior partner, states.
In addition to long financial state
ments, the report includes many
illustrations
Lincoln Bank 81 Years Old.
The Lincoln National Bank was 81
years old today, having been opened
on March 25, 1890. Deposits re-
Gently were at the highest point on
record and at the close of business
yesterday totaled S14.320 433.73. The
present officers include:
Floyd E. Davis, president; Albert S.
Galley, executive vice president:
Richard A. Norris, vice president and
cashier; Fred A. Smith, vice presi-
dent; Robert E. Lee. vice president:
J. Frank Rice, assistant cashier and
assistant trust officer; Helena D.
Reed, assistant trust officer: D.
Hammond Wetze, Edward H. Story.
Nelson NJ. Stokes. Walter R. Fry and
Samuel c. Redman. jr, assistant
cashiers: Louis c. Paladini, con-
troller; William H. Harris, auditor;
Arthur c. Keefer, general counsel.
The present Board of Directors is
composed of George I. Berger. Will
liam w. BraWner, Floyd F. Davis,
w. GWynn Gardiner, jr.: Albert S.
Galley, w. w. Griffith, Franklin w.
Harper, Melvin C. Hazen, Leroy w.
Heron, Robert E. Lee, David L.
Maxwell, Richard A Norris, Howard
R. Norton, George c. Humphrey,
Fred A. Smith, w. NICK. StoWell,
Charming S. Walker, Howard L.
Wilkins and w. CroSdale Wits.
Executive Vice President Albert S.
Galley holds the distinction of hav-
ing been with the bank on the day
it opened.
Bell System Taxes Heavy.
The annual report OF the Bell Sys-
tenn states that for 1910, taxes, in
Guiding those charged to construc-
ton, amounted to S187, $4,000. an
increase of S28.693,O0O over 1899.
equal to about S11 per telephone.
The number of dial telephones
in service increased by 1,2500OO in
1910. About so per cent of Bell
System phones were dial at the
end of the year, President Walter
S. Clifford reports.
"edileI report service over IQe
telephone was extended to Wash
ington, Boston and Detroit during
1910, proving valuable to many
businesses and popular with the
public, the report says.
Rate reductions in 1910 saved
telephone users some $l3,500,000
during the year, S5,O0OOOO being in
long distance service, the report
claims.
Maryland Home Loans Rise.
Home loans made by the insured
building and loan associations in
Maryland in February numbered 413
and amounted to s1.485,264. it was
stated today by Nugent Fallon, gen.
eral manager of the Federal Savings
& Loan Insurance Corp. In Febru-
airy, 1910. there were 285 loans
amounting to S1.116,350. During
February savings placed in these in
stitutionS totaled S1173950, bringing
to S31 $4,000 the total of such funds
on March l.
TOday's Trading on Exchange.
Trading on the Washington Stock
Exchange opened today with a sale
n