Evening star., 1942-09-14
August War Bond
Sales Of S4,031,466
Fall Below July
District Residents Have
Invested $55,563,6l0
Since Drive Started
BY EDWARD c. STONE.

the Federal Reserve Bank of Rich
-mond and branches during August,
bringing the total since the sales
campaign started in May a year
fAgo to SIS, ,563 ,610, the Reserve Bank
OF Richmond reported today.
II Sales OF series e bonds in the
district in August reached $2,214,-
i431.25, largest of the three types of
bonds, but about $4,000 below
Duly sales. Sales Of series F bonds
amounted to $268 ,435, a sharp drop
sfrom the previous month, when sales
stotaled $715,6725o. Series G bond
4ales totaled $l,548,600, compared
with $2,613,00o in July.
/, War bond sales in the whole Fifth
District in August amounted to $30,-
se91 ,461, an impressive figure which
hoes not include any OF the sub
istantial number of bonds sold
Through post Offices. Fifth District
Esales, since the drive was launched
more than year ago, have now ar
rived at the grand total of 1886, ,249,-
s6l1.25 at the issue price. At the
lsame time the number of differ
sent bonds distributed has reached
7,S04, ,769.
Virginia and Maryland registered
heavy War bond sales in August,
the Virginia total amounting to
$7,S87 ,69825, while Maryland resi-
dents invested $6,770, ,776.75 in the
three issues. Virginia now has a
grand total of $ss, ,730, ,S5925 in these
issues and Maryland 98,614,326, the
bonds having been bought through
the banks, building and loan asso-
eiations and a host Of other finan-
cial institutions.
Safe Deposit Rates Fixed.
Thousands of safe deposit box
holders in Washington banks will
be pleased to know that rental
charges are not to be advanced.
For several months some bank
officials have held that the in
creased cost OF operations justified
higher rates. Other officials have
favored efforts to expand bank
revenues by increasing the number
Of safe deposit box renters without
changing rates.
Charles c. Boswell, chairman Of
the safe deposit section of the Dis
trict Bankers Association, after
careful study, has notified the banks
that the ONCE of Price Admins
tration has limited rentals on safe
deposit boxes to the rates prevail
ing last March, thus preventing any
increase In rates at this time. A
recent amendment to OPA regula-
tions settled the question.
Money Crops Outlook Bright.
Agricultural prospects for fifth dis
trict farmers are excellent in so far
as the chief money crops are con.
cerned, says the Richmond Reserve
Bank. Growers Of cotton and to-
bacco appear certain to realize great
ly increased money returns from
their 1912 crops over those received
from 194l crops. r
This years tobacco crop in the
district Is forecast as IA per cent
above the 1941 crop. and If opening
auction market prices In Georgia
and the Carolinas are indicative Of
this years demand for tobacco, the
growers will receive substantially
higher prices for the larger crop.
The cotton crop this year is go
per cent larger than the 1941 crop,
in fifth district States, and at mid
August cotton prices were approx
nately II per cent higher than a
year ago.
Increased yields are expected this
year In oats, hay, Irish potatoes,
sweet potatoes and commercial ap-
plies, while lower yields are reported
for wheat, corn and peaches.
Investment Bankers to Meet.
Walter S. Robertson OF Richmond
was slated for election as chairman
OF the Southeastern Group of the
Investment Bankers Association, at
= meeting at the Mayfiower Hotel
at 1 o'clock this afternoon. About
rs investment dealers from the Cap
itAi, Maryland, Virginia and North
Carolina were expected.
Robert c. Kirchofer, Raleigh, N. C..
and L. CLARK Brown of Brown,
Goodwin 6z Olds, Washington, will
Be vice chairman, while j. Creighton
Riepe. Baltimore, has been NOM
mated for secretary treasurer. Four
members of the Executive Commit
tee, already nominated, include
Bernard J. Nees Of Johnston, Lemon
81 Co., Washington; w. Payton May,
Norfolk; G. H. Pinkerton, Baltimore,
and r. 8. Dickson, Charlotte, N. c.
The program called for a discus
sion OF further ways of pushing the
sale of all types of Treasury issues
to help the war effort, the dealers
having already given this matter a
great deal Of time.
Dealers Pushing Tax Notes.
Investment dealers and bankers
here were urging purchase of the
revised series Of Treasury tax saw
ings notes. offered the public today.
They continue to be issued in two
series, Series A designed for small
or moderate tax payers and Series C
for larger taxpayers and investors
Only 5000 A notes can be bought
In one year, but the c notes sales
are unlimited.
The War Activities Committee OF
the motion picture industry has
secured cooperation of the Wash
ington banks in the sale OF War
bonds in connection with the pre-
miere Of a drama based on Wash
ington life entitled. THE War
Against Mrs. Hadley," at the Capital
Theater on Wednesday, September
23. Tickets will be presented to the
buyers of bonds in proportion to the
amounts they buy The committee
is working for million dollar
house"
Twelve teams from Washington
building and loan associations will
open the annual bowling tourna-
ment this evening at the Connecti'
cut Avenue Ice Palace. League
officials have arranged special cere-
monies for q gala opening
Today's Trading on Exchange.
National Union Fire Insurance Co
shares sold at 1914 on the Washing
ton Stock Exchange today, on hal
mint fronn the last previous