Evening star., 1942-12-16

April --------- 1884 ,614 400, 755
May --- 1,153,295 991, 1893
June --- 966,947 8S1, ,794
July --- 866, $50 763, 1874
August - 848,305 743,684
September - 896,976 783, 1884
October -- 1,120,4O3 917,243
November -- 1,511,6 ,627 1921 1859
War Bond Sales SAL ,392, 2,06l.
The District Victory Fund Com
mittee, Winslow B. Van Devanter,
chairman, reported today that total
purchases in the drive through De-
cember IA totaled Sal 1892 ,061 so, a
remarkably fine record
These purchases were composed
of "a certificates of indebtedness,
$3.50 900; TX Treasury bonds, ST.
$4,000; Victory 2l2s, 1963-68, $11,-
545, 500; United States Treasury tax
savings notes, series A, 1904, ,425, and
series C, $3,281 900; United States
Treasury savings bonds, series F,
$192, ,93650, and series G, 1901 200;
increased holdings by banks of tax
bills, $4,42200O
Two especially large purchases
were also announced, the Conti-
mental Life Insurance Co. taking
$100. 900 212s. in addition to another
previously announced purchase, and
the International Union of Oper-
ating Engineers, 100000 of 1As.
Hugh Leach, president Of the Fed
eral Reserve Bank of Richmond, an
nounced that sales so far in the
campaign in the fifth district have
reached $238, PIT ,977, Maryland lead
ing with $81, ,141,208 followed by
Virginia with $47,634,174.
Credit Official Views 1943.
A combination Of high tax rates
during the war and postwar years
and large standing national debt
for many years after the close of the
war are forecast as the tax pattern
for the United States by Henry H.
Heimann, executive manager Of the
National Association of Credit Men,
in the associations year-end review
and forecast.
Enactment of a withholding tax
on a "pay-as-you-go' basis in 194a
Is virtually assured, and there is a
strong possibility that the new year
will witness the introduction of
some type Of forced savings program.
These "rebatable taxes" will have
the same influence on spending
power as do regular taxes. Being
repayable after the war, they will
have greater public acceptance than
higher taxes. And their repayability
will be another contribution to post
war purchasing power.
Mr.. Heimann forecasts continual
ton of the upward trend In farm
prices and farm income, decline in
civilian business volume, substan-
tial drop in private construction,
further decreases in the volume of
outstanding consumer debt, level
ing off process in the labor field
and continuance Of governmental
control of export and import trade.
The small businesses that survive
the present emergency will be solidly
entrenched. Their relative freedom
from complexity will enable them to
move with dispatch in the recon-
version period. The stimulated
developments in the fields of syn
thetic and substitute materials will
provide new opportunities, he says.
Controllers Study Tax Bill.
Herbert S. Wood, Bureau Of In
ternal Revenue. addressed District
members of the Controllers Insti-
tute of America at dinner meet
ing at the Carlton Hotel last night
on Relief Provisions of the Ex-
cess Profits Tax"
Mr.. Wood stated that in times OF
prosperity earnings of corporations
are much greater in proportion than
earnings of individuals, and, there
fore, should bear the major portion
of tax. He gave a detailed analysis
of the 1912 act, explaining the relief
provision.
Baltimore sent a large dedegat ton
and many special guests were
present.
Two Dividends Declared.
The directors Of San-Nap-Pak
Manufacturing Co., whose stock is
widely held in Washington, have
declared the regular dividend on
preferred stock and a dividend of
10 cents per share on the common
stock. Both dividends are payable
December % to stockholders Of rec
ord December IL.
James M. Johnston, senior partner
| Of Johnston, Lemon 6 Co., men,
bers Of the Washington Stock Ex-
change. recently was elected to the
Board of Directors of the company.
Bank Joins Federal Reserve.
The Danville Loan e. Savings
Bank, Danville, Va, has been ad-
mitted to membership in the Fed
eral Reserve System, 1t was an
nounced here today.
Leonard Marbury, Vincent A.
Sheehy and Henry Branson, former
bankers now in the armed services,
attended the bankers meeting at
the Mayflower Hotel and were intro
duced by Chairman Aubrey O.
Dooley. Victor S. Mersch, register
of wills for the District, was a spe-
| Cldl kuCSI.
E. c. Crittenden of the Bureau of
Standards, has been elected vice
chairman of the Standards Council
| Of the American Standards Associa-
ton.
Gas Common In Lively Demand.
| Washington Gas Light common
was in lively demand on the Wash
ington Stock Exchange today, three
50-share sales taking place at 143s
unchanged.
The market opened with Security
Storage coming out on 10-share
sale at 66, OF half = point. Capital
Transit again sold ex-dividend at Is.
The bid for Washington Railway
d Electric common stock now stands
at $3.50 4 share. With $3.50 asked.