Evening star., 1941-08-04
Defense Bond Sales
Al Post Office Hit
Faster Pace in July
Figures Are Expected
To Far Exceed June
Total Of $289,l06
BY HAROLD b. ROGERS.

Dy AAhAtoAD ASs avn
Sales of series E, national De-
Tense bonds, through the Wash
ington City Post Office and it's 80
branches is proceeding at an ac-
celerated pace, according to postal
officials, tabulating the July re-
turns.
Present indications are that the
figures will far exceed the June
sales of $3.50 bonds totaling $685.
1o6.25. While the post Office is
keeping a record of its Defense
bond sales, Washington banks are
pushing forward with their own
program of sales of Defense bonds,
and, of course, keeping their own
records, but no cumulative total
for the whole Washington area.
including the banks, is yet available.
Figures are being compiled by the
Treasury Department, and eventual
ly will be made public showing the
progress by States and the District
of Columbia.
The post Office can sell series z
bonds over the counter in the face
values of $25, $40, $100, $500 and
$1,000, but is not handling the series
F. and G Defense bonds. Banks are
selling series E bonds over the
counter and are taking orders for
series F and G for the Federal Re-
serve Bank at Richmond, which
issues them. Defense savings
stamps also are on sale at the post
Offices and banks.
Cooperating with the Govern
ment's program, some Washington
bankers are giving their employees
opportunity to participate in the
bond purchase plan by payroll de-
ductions. The first three banks
to institute these plans were the
Riggs National Bank, American Sc
curity g. Trust Co., and Hamilton
National Bank. The Hamilton is
using a system where the employe
authorizes a deduction from his pay
roll, and then receives the entire
amount of the deduction in Defense
savings. stamps. Saving these, he
can later buy bonds.
C. & p. to Spend S1,357 900.
Expenditures amounting to ST.
S57 900 have been authorized for the
construction of telephone plant and
Installation of equipment in the Dis
trict of Columbia have been author
lied by the Chesapeake 81 Potomac
Telephone Co., Charles A. Robinson,
vice president and general manager,
announced today.
In order to take care of the stead
lily increasing number of telephone
calls passing through the Offices in
the Dupont dial center, and mount
ing demands for service in the area
served from the Lincoln dial center,
s879, 900 will be spent to install ad-
Litional equipment in these Offices.
Expansion of business activities in
several Government departments, as
a result of national defense meas
nres, requires the expenditure of
more than $4,000 to provide addi-
tional cable facilities and install
private branch exchanges and asso-
ciated equipment. More than $4,000
will be spent to provide additional
cable facilities in two
{ Cther sections of the city to take
care of telephone growth.
Mr.. Robinson stated actual ex-
penditures for the first six months
Of 1941 totaled $6944,00O as COM
pared to only s3,40S, 900 for the same
period in 1910.
Travellers Promotes Winter.
Horace Winter, manager since
1918 of the life, accident, and group
of the Travellers In
Eurance Co.'S Washington branch |
office, has been appointed manager
of the company's army and navy |
bureau here. He is largely respon-
sible fol- the establishment of this |
bureau.
A veteran of "a years service, Mr.. !
Winter entered the company's or
Fanization as casualty special |
agent. He served in Indianapolis, |
Columbus and Erie in this capacity. |
Early in 1909 he was promoted to the
of the liability depart
inent at Washington. Two years
later he was transferred to New
! ork City, but returned here in jan
lary, 1918.
He will be succeeded in his pres
sent position by John P. Stumpf,
manager of those departments in the |
company's Nashville branch.
Banker Ends Vacation.
Albert S. Galley, executive vice
president Of Lincoln National Bank,
recently returned from Kenosha,
Wis, where he visited with his son,
Howard A. Galley, who has achieved |
national prominence in the Boy
Scouts of America. Howard Galley,
Scout executive for Kenosha County,
and director of the Boy Scout Sum-
rner Camp at Dyer Lake, Wis, has |
been appointed health and safety |
director for a 17-day period this
month at Camp Philturn, Cimarron,
N. Mex, model Boy Scout camp
conducted by the national council.
Telephone Rights Received.
Washington holders of American |
stock received their rights
In todays mail to subscribe for
American Telephone & Telegraph |
15-year per cent convertible de-
benture bonds, due September l.,
1856. Eight warrants allow the pur-
chase of 500 bond.
1t was reported in the financial
district today stockholders receiving |
only three of four rights are selling |
them In many instances while other |
holders are buying additional rights
SO that they can buy the bonds.
The rights may be bought or sold |
on the New York Stock Exchange or |
on the Washington Exchange. They |
have already been traded on when |
Issued" basis. Warrants not used on |
or before August 20 will be void.
! Today's Trading on Exchange.
Telephone rights sold at 6-32 on |
the Washington Stock Exchange to-
day. Riggs National Bank stock,
both Washington Gas issues and
Capital Transit stock were active at
recent levels.