Evening star., 1941-05-02
Defense Bonds Sale
Gets Brisk Response
On Opening Day
Rush Business Is Done
In Washington and
Rest Of Country

Washington and the rest of the
country welcomed the Treasury's
defense saving campaign by pur-
chasing bonds and stamps with
rush during the first "a hours they
were offered for sale, reports re-
vealed today.
All over the United States the
defense securities were purchased
at brisk rate at post Offices. banks,
. department stores and other con-
venient places.
In New York City alone more
than S1.OO0,OOO worth of bonds and
stamps were reported sold the OPEN
ing day.
Bonds with a maturity value of
S45, $50 were sold by the Washing
ton post Offices during the first day,
Postmaster Vincent c. Burke re-
ported The postmaster explained.
however, that most of the bond
sales were handled by the banks,
which had not yet tabulated their
early returns.
The post offices sold 39,937 80
worth of stamps, of which $35522
went to banks for resale.
Officials Launch Sales.
Governors, mayors and other Off
cials launched sales throughout the
country.
At Pampa, Tex, the first bonds
were purchased by Mr.. and Mrs.
Paul Blankenburg, who have four
sons in the Army and Navy and a
fifth son waiting until he is old
enough to volunteer, as his brothers
did.
Mayor Howard w. Jackson of
Baltimore took one each of all the
bonds available for individuals-in
denominations of $25, $50, 500, $500
and S1,000.'
Postmaster General Walker
bought the first stamps at Kansas
City, in 10, Is and so cents, ST and
IS denominations.
Secretary of the Treasury Nor
genthau was so pleased with early
results of the sale that he went out
and bought batch of stamps and
handed them out to callers at his
Office.
Civic organizations, business asso-
Citations and labor unions all over
the country have volunteered their
aid in the savings program, the
Treasury announced.
Will Be Sold in Stores.
The National Retail Dry Goods
Association has arranged to place
the Federal assets on sale in its $500
stores. Lew Hahn, general manager
and treasurer of the organization,
announced.
Federal credit unions, with 1000
member institutions. have been des-
ignated by the Treasury as agents
In the sale of the bonds.
Members of 545 local councils of
the Boy Scouts of America are dis
tributing 100000 posters proclaim
ing the Defense savings drive.
City post Office stations had S.
100000 in Defense bonds ready for
sale and $150,000 in savings stamps
Of small denominations.
100 Per Cent Office Reported
Employees of the District office of
Metro-GoldWyn- Mayer Pictures laid
claims to being the first 100 per
cent organization" in the purchase
of the Defense assets. Every work
er, it was announced, reported to
work with either bonds or stamps.
Previous arrangements had been
made with the National Metropol-
itan Bank to have the bonds and
stamps ready.
With the high-preSSure tactics of
1e17-8-including quotas and slack
er" lists-entirely lacking, great in
terest was shown in the new sales,
which were heralded with an ap-
peal by President Roosevelt and
Treasury announcements.
A Defense bond may be bought
for as little as $18.75, in a denom-
ination which, on maturity 10 years
hence, will be redeemable at face
value of $25. Other Glass z bonds
now sold at cut rates are in denom-
inations of $50, 500, $500 and $1,000.
If held until maturity, each will
yleIu dlI cQulN dICIlG VI 90 pei CCllG
interest, compounded semi-annually.
Stamps Up to S..
Defense stamps are sold in de-
nominations of 10 cents, 25 cents,
so cents, 81 and S.. They may be
pasted in an album, which, when
filled, may be exchanged for bond.
Glass E bonds are sold only to in
dividuals, and each is limited to q
holding of S. 900. Corporations and
groups, as well as individuals, may
buy Glass F and Glass G bonds,
which run from 500 to $4,000.
Holdings in these classes may reach
S50,000. They mature in II years.
They also are sold at discount at
the moment.