Evening star., 1942-05-18
Financiers Push Bond Sales.

flnanCleTS rush DUnu SdlcS.
Washington bankers, building and
loan leaders and investment dealers
are doing everything in their power
to help force the May sales Of United
States War savings bonds in the
Capital to S6,178,900 This is the
quota set by the Treasury in the eff
fort to bring the Nations total sales
for the month to S600,000,000.
This calls for a substantial in
crease over April when sales in the
Capital amounting to s3,199975 were
reported by the Federal Reserve
Bank of Richmond and total Of
S822937 recorded by the City Post
Office. The City Post Office also
reported the sale of s650,435 of War
savings stamps in April.
The May total for Maryland calls
for the sale of War bonds amount
ing to s9078,5 500 while the total set
for Virginia for May stands at
s8,965,2O0. West Virginias quota is
S4,1o6,4O0.
The Treasury has explained that
the payroll plan will be the back
bone of the effort to get sales up to
one billion for the whole country in
July. In the first year Of the drive,
however, IS per cent Of the dollar
volume of Series E bonds were sold
over bank counters.
One of Washington's investment
dealers said today that lit takes
nerve to urge clients to buy War
bonds in the place of other invest
ments to which a commission would
be attached. But this IS what most
of the dealers are doing"
April Rail Incomes Soar.
Seventeen Glass I railroads, rep
resenting 65.8 per cent Of total
operating revenues in the Southern
District. had estimated operating
revenues in April of S51 ,431 ,62S
compared with S34677, $50 in April,
l941. an increase of 483 per cent.
Freight revenues of those rail-
roads in April amounted to S42,l37,-
O62 compared with S28, ,l28,584 in
April, l941, an increase Of 49.8 per
cent.
The Association of American Rail-
roads reports that roads in the
prising increases.
Insurance Sales Compared.
Life insurance sales in Washing
ton in the first four months of this
year compare as follows with the
like months year ago:
! 1912 1941
January --$8,635, 900 s4,914,000
February --- 1856 900 5,222 900
March 4,722,000 6,533,000
April - 4,513,000 6,012,000
Many leading cities reported de-
creases in new policies in April.
Washington % per cent drop COM
ipares with 26 per cent in Boston, %
An Cleveland, AZ in Chicago. II in
Detroit, 8 in Los Angeles, 26 in New
York, 81 in Philadelphia and 20 in
st. Louis.
These cities, however, report gains
ranging from 10 to "a per cent in
the four-month period compared
with last year, all ahead of the
Capitals per cent improvement.
Brokers Note Anniversary.
Brokers in Washington Offices
OF New York Stock Exchange firms
took an hour off this noon while
Wall Street observed the 15Oth ami
versary Of the founding of the ex-
change. The exchange was closed
from IL to o'clock.
The actual founding date, May II,
1892, fell on Sunday. Partners and
brokerage employees here could do
little during the celebration hour
except have lunch and answer phone
calls about the grain market which
went on as usual.
Banker Talks to Auditors.
Mark j. Igoe, personnel manager
of the Corn Exchange National Bs =:
g. Trust Co., Philadelphia, was tie
guest speaker at the May meeting
of the auditors section of the District
Bankers Association. A lively dis
cussion followed his address.
Chairman Lewis E. Thomas intro
duced Sidney F. Talafierro as OFF,
cial representative of the bankers
association, the latter responding
with pertinent remarks.
Heard in Financial District.
Ten shares of Capital Transit
stock sold at 20 on the Washington
Stock Exchange today, unchanged
from the last sale last week.
Riggs National Bank No. l girls
bowling team has won the league
championship for the second con-
secutive year. Competition was
keen, American Security girl bowl
,ers finishing only one game behind
the leaders.
Printed copies of the annual re-
port of the Lanston Monotype Co.
gwere distributed to stockholders to-
day, showing net earnings of s3.78
per share against SIPS year ago.