Evening star., 1942-08-16
Capital War Savings
Bond Sales Boosted
Sharply in July
Richmond Bonk Reports
$5,585,853, Against
$2,03l 387 in June
By EDWARD c. STONE.

day from the Federal Reserve Bank
of Richmond which disclosed that
residents of Washington bought q
total of s5,5s5,853.75 bonds at the
issue price. in July, against only
$3.554.46650 during June. a surprls-
ing increase of $2,031 ,387 25.
July sales of Series E bonds in the
District totaled s2,257,181.25 COM
pared with s2.173 300 in June. Series
r bond sales reached $715 so
compared with only s285,67 in
the preceding month. Series G
bonds proved far the most popular,
the July sales amounting to 81
$4,000, in comparison with 81 ,095 800
for June.
Since War bond sales were started
9 year ago in May, sales in the Dis
trict in Series E bonds have reached
$24,1O2.356.25: Series F sales now
total s4.459, 1880, while purchasers
of Series G bonds have taken
22.970 400, making grand total at
the end of July in all three issues
OF $5l ,532, ,143.75.
Fifth District Sales Heavy.
July sales of Series E bonds In the
whole 5th district amounted to
$19,939 $50; sales of Series F. bonds
totaled s4,948,47250; and sales
through the Richmond Reserve
Bank of Series G bonds reached
$16,200, 300. The analysis shows that
the E bonds have been the most
popular.
War bond sales in Maryland in
July aggregated $5,586O00 and in
Virginia totaled $3,450,5O0. To date
Maryland has sold more than $44.-
100000 War savings bonds and Vir-
einia more than $29,0O0000. The
report shows only sales through
the Richmond Reserve Bank and
branches and does not include sales
through the post Offices.
Since the War bond drive was
launched more than year ago,
people residing in the 5th Reserve
district have bought 2,379.294 sep
arate bonds, or pieces" making the
huge investment of $685. 1855, $50 25,
the latest summary reveals. Pur-
chases in the 5th district in July
alone totaled SAL ,088, ,622.50. y
S4,990,00 Home Loans Made.
Building and loan associations of
the District of Columbia granted
loans totaling $4990.000 for pur-
chase of existing homes in the first
half of the year, an increase of more
than IL per cent over the CORE
spending period of 1941, the Federal
Home Loan Bank reported today
The increase in this type Of
mortgage loan was accompanied by
q sharp decrease in the amount ad-
vanced loan associations for new
construction as restrictions halted
construction except vitally needed
war housing. With new dwellings
growing more and more difficult to
obtain, homeseekers of the District
were apparently turning to existing
houses.
The Districts building and loan
associations granted $3,722, 600 in
loans during the January-June per-
iod for new construction, a decrease
of so per cent from 1941.
The associations home financing
for all purposes amounted to 500
$4,000 for the half year, compared
with $23.283 900 for the correspond
Ing months last year.
Trading Unit Views Differ.
Partners in Washington in New
York Stock Exchange firms hold
widely different views on the Wall
Street suggestion that the unit OF
trading in many stocks should be
reduced from 100 shares to Is or
even 10 shares in an effort to in
crease the volume of trading on the
exchange.
All agree that the aim of such a
move is highly desirable and some
thing should be done to increase
daily trading. At present there is
an extra charge of an eighth per
share when a trader buys less than
the lO0-share unit. When he sells
there is also a charge of an eighth
In addition to the regular commits
sion. This additional eighth count!
up rapidly in a series of transac'
tions.
If the trader could buy small lot!
at the same rate as now charged TO
l00-share lots, many customers mer
believe there would be considerabl.
more trading. The problem, how
ever, will be given lot more stud.
before anything is done about it
brokers say.
President Lauds Bank System.
Mile-stones in the growth of tn
Federal Home Loan Bank System IL
a single decade to a national credi
reserve serving home-flnancing in
stitutions with assets of $500, 900,
600 are recalled in the 10th ami
versary issue of the Federal Hom
Loan Bank Review.
The member institutions OF tn
bank system, now numbering 3,81s
have made home loans aggregatln
more than 100000 for eacl
of the past two years, the Angus
Review points out, and now serv
100000 investors and borrowers.
Letters from President Roosevelt
and John B. Blandford, jr., admin
istrator of the National Housln
Agency, to Commissioner John +
Fahey of the Bank Administrator
appear in the Review.
Financial District Comment.
The Treasury announced yester
day that the redemptions of wa
savings bonds had been insignifi
cant compared either with the tots
amount outstanding or with tn
month by month sales.
Demand deposits OF 184 Stat
banks in Virginia increased betwee
April 4 and June 80 from sl35 SAB
e29 to s147 ,826,l0 and time deposit
from 36,696,067 to sl39 1851
according to Bank COMMISSIONS
Milton r. Morgan.
The Fifth Federal Reserve DistriC
purchased $1,000. 900 of the Treas
ury tap" issue of 212s in the frs
II dayS pf Auoust compared wit