Evening star., 1942-06-10
Reserve Bank Report,
Id. T., War Bond Sales
|Up Sharply in May
4,635,20 Volume
Compares With April
Mark Of $3,199,975
BY EDWARD C. STONE.

SAVINGS UOllllS III way CiioOSll elle
/ Federal Reserve Bank of Richmond
and branches reached $4,635, ,203, 9
sharp advance of SLABS, ,227 from
the April total of $3,l99,975, it was
announced today.
Sales in Series E bonds were the
highest, amounting to $2,132 $50
Sales in Series F bonds totaled
$353,553 and sales in Series G bonds
$1,148400. Sales in the Series E
and F bonds were the largest ir
January, when there was a tre'
mendous buying rush following the
attack on Peal Harbor.
3" Total sales in the Capital in al
three issues since the War bono
drive started in May a year age
lhave now reached $42,391 1923 so. OF
this impressive sum $19,671 ,375 was
placed in E bonds, So, 3,458 ,684.50 IN F
bonds and S1e,261 300 in G bonds
| the Richmond report states. The
summary includes no sales through
post Offices. as these are not re.
ported to the Reserve Bank.
= War bond sales in the whole fifth
district in May totaled $26, ,442 ,489 rs
while sales since the campaign
started have now reached the huge
sum of 1855 1863 ,53975, the report
shows. Sales in Maryland in the
13 months totaled s74,112, ,285 and in
Virginia, S64,332 ,696, the Richmond
Bank says.
The Treasury's monthly report
shows that total War bond sales in
the Capital in May, through all
agencies, amounted to S5,958 600
which was 96.4 per cent of the May
quota of $6,179 900, or S221 900 under
! the goal. Virginia was above and
Maryland under their quotas.
! , Mckee Heads Savings Bank.
I H. H. Mckee was reelected pres
ident of the East Washington
kSavings Bank by the Board OF
Trustees. meeting yesterday after
moon. Mr.. Mckee is also president
pf the National Capital Bank and
chairman of the Clearing House
Association.
l James A. Donohoe was elected
first vice president; T. Earle Bourne,
Nice president; S. Wilson Earnshaw
kecretary-treasurer. and j. N. Blrck-
head, assistant treasurer.
i The usual semi-annual dividend
Df per cent was declared, payable
June 80 to stockholders of record
June %.
! Loan Office at Silver Spring.
| B. E. Henderson, president OF
the Household Finance Corp, of
Chicago, announced today that the
tompany is planning to open an
office for residents of Washington
and nearby territory. at 1914
Georgia avenue, Silver Spring, Md,
next Tuesday.
/ Household is a Nationwide con-
Gern operating Offices in the prin-
cipal cities of the United States and
Canada. The company has never
maintained an Office in the District
iof Columbia because of the lack of
Ia workable small loan law, Mr..
Henderson asserted.
F.. w. Dun1ing has been appointed
manager of the new Office. He
comes to Silver Spring from Balti-
more, where he has been an office
manager. He is native of New
York State, graduate OF Cornell
university and has been with the
company since 1882.
Union Trust Votes Dividend.
Directors of the Union Trust Co.
'have declared a dividend of per
cent, or S150 per share, payable
July Is to stockholders of record
June 30. President Ord Preston an
.nounced today. This is the same
amount as was paid in January
V. V. Radionoff, divisional sales
manager for the Toledo Scale Co
in the District of Columbia, has
been awarded membership in his
firms Hundred Per Cent Club, high
est sales honor conferred by the
company. Mr.. Radionoff, who
makes his headquarters at 807 Rock
Greek Church road, has been with
the Toledo organization for II years
: Sales Top IL Districts.
/ In the first five months of this
year department store sales in the
jRichmond Reserve district, which
includes the Capital, were ahead of
itne other II trade areas, the Fed
Seral Reserve Board reports, the
gain over last year being 27 per
cent.
Philadelphia was second with a
70 per cent pickup, followed by
sCleveland with a 10 per cent up
turn. Trade in Boston was up 18
per cent and in New York IA per
cent Atlanta and Minneapolis re-
ported 10 per cent advances.
! Trade in the Kansas City area was
up Is per Gem; in San Francisco,
19 per cent. At the bottom of the
list for the five months was Dallas
with a 9 per cent rise.
Shorter Elections Desired.
/, J. Clifford Folger, vice president
of the Investment Bankers Associa-
ton, announces that the Board of
Governors has proposed an amend
ment to the constitution, effective in
1943, which would defer the date
for beginning the election of gov
ernors by groups from March l to
July l in each year. This will
greatly cut the time lag in the pres
.ent plan, which has been found OBJ
jectionable, he added.
Today's Trading on Exchange.
Washington Gas Light IS, 1860,
were strong on the Washington
Stock Exchange again today, $500
moving at l27ls.
Washington Gas $3.50 preferred
stock appeared on the board at SO,
up three full points, while Washing
ton Gas common came out at Is, up
q since the last sale.
The First National Bank of New
York has declared quarterly divi-
dend of 20 per cent payable July
/ to stock of record June 80. The
stock, now selling around $1.095 g
share, gained Is points yesterday.