Evening star., 1942-12-06
Victory Bond Drive
Moving Fast Here,
Van Devanter Says
Chuirmun to Receive
Campaign Reports
Tomorrow Afternoon
By EDWARD C. STONE.

Z, SubVbtVW
BY EDWARD C. STONE.
Washington's Victory Bond drive is
moving forward at splendid rate,
keeping up with the pace set
throughout the Nation, Chairman
Winslow B. Van Devanter said last
night.
At the same time he announced
the purchase of $1,500.000 Victory
2kas at the Washington Loan &
Trust Co., by an anonymous buyer;
purchase of 100000 by the Wash
ington Suburban Sanitary District;
$500, 900 by the Navy Relief Society;
$4,000 by the Scottish Rite Supreme
Council, and a host of other pur-
chases.
The campaign goal for the Capital
Is $50 100000 Complete figures to
date will be presented at Victory
Fund meeting tomorrow afternoon
at $3.50 at bankers headquarters.
Secretary Morgenthau reported the
drive has already passed the half
way mark, to his great satisfaction.
Victory Loan subscriptions in the
5th Federal reserve district through
Thursday totaled SOL, ,l65, 900, Chair
man Hugh Leach has announced.
The Nations commercial banks,
facing a $4,000, 900 900 limit, sub
scribed for $2,356, ,000,0 of Ia per
cent Treasury bonds of 1948 during
the three days the books were open,
the Treasury reported yesterday.
This was one of three offerings made
in connection with the victory cam
paign. The Treasury allotted sub
scriptions up to 100000 in full and
those over that amount up to 85
per cent.
Late Banking Hours to Go.
The Washington Clearing House
Association may not act until after
Christmas on changes in banking
hours as a result Of the Treasury S
adoption of the 20 paydaysa-month
plan, is was stated in the financial
district yesterday. However. late
hours on the 9th, 18th, 23rd and
last day Of each month are expected
to be dropped when final action Is
taken. The need for the late hours
has bone with the wind. bankers say
The new payday schedule went
into effect on November 16, when
the Treasury made the change. FOL
lowing an order from President
Roosevelt directing the move as
means Of spreading the adminlstra-
tive work load incident to the pay
ment of Federal salaries
The new schedule which also is
aimed at relieving shopping. banking
and check cashing congestion. has
now been given a real test by the
banks which are still maintaining
late hours on what were the four
big paydays under the old system.
Officials have found that compare
lively few Government employees are
now using the late afternoon facili-
ties, not nearly enough to warrant
the banks continuing the present
5 o'clock schedule, it was said yester-
day.
Marked Changes Reported.
Bank officials report that the new
20-payday plan has evened out busi-
ness during regular hours. Many
patrons. who had been doing their
banking late in the afternoon, are
depositing their checks much earlier
on whatever days they are now paid.
No longer are there almost endless
lines of customers around 5 o'clock
crowding the windows to deposit or
cash checks.
The check-cashing situation also
has been relieved considerably by an
increase Of Federal payments in
cash. While a great deal of this
money goes to the banks, there are
no window delays while tellers
identify new patrons.
The banks will, of course, have the
full approval of Treasury officials
before voting any changes in hours.
These officials have already studied
the matter carefully from the Gov
ernment employees point of view.
Gormley to Address Shippers.
NJ J. Gormley of Washington,
executive assistant of the Association
of American Railroads, will be the
principal speaker al the 61st regular
meeting of the Southeast Shippers
Advisory Board at the Tutwiler
Hotel in Birmingham, Ala, on
Thursday. Mr.. Gormley will address
the luncheon session. and his subject
will be Transportation in War
What must be done to enable the
railroads to handle the increased
traffic expected in l943 will dominate
the discussions at the meeting.
Others on the program will include
George H. Shafer of ST. Paul, presi-
dent of the National Association of
Shippers Advisory Boards.
Appraisers to Name Officers.
Howard G. Brunsman, administra-
tive assistant at the Census Bureau,
will be the chief speaker at the an
nual meeting and election of officers
Of Washington Chapter. Society of
Residential Appraisers. Tuesday at
$50 at the Raleigh Hotel. He will
speak on Housing Data"
Thornton w. Owen. retiring presi-
dent, will be toastmaster at the an
nual dinner, Secretary r. Lee Baxter
announced yesterday. A large at
tendance of real estate men, build
ing and loan executives and insur-
ance leaders is expected, he said.
Fiduciaries Section to Meet.
Harold Stonier, executive manager
Of the American Bankers Associa-
ton, and Addison E. Southard, for
mer American consulate general at
Honk Kong. will address a dinner
meeting of the Fiduciaries Section
of the District Bankers Association
at the Mayflower Hotel on Monday,
December a.
With such speaking talent the
meeting will be one of the most i'm
portant Of the year as well as the
first. Later general meetings are to
be curtailed because of the war
emergency. Aubrey .. Dooley, chair
man Of the section and assistant
trust officer of the Hamilton Ma
tional Bank, will preside. DR..