Evening star. [volume] (Washington, D.C.) 1854-1972, 1942-12-28
D. {. War Bond Sales
In November Reach
A,029,478 Total
$68,305,l47 Invested
In {, T and 6 Issues
Since Drive Storted
BY EDWARD C. STONE,

BY EDWARD C. STONE.
Sales Of United States War saw
ings bonds in the District of Column
bia In November, outside of post
ofnces, totaled $4,o29, 47s.5O, it was
learned today from the Federal Re-
serve Bank Of Richmond, compared
with sales in the preceding month
amounting to $4,184, 028.75.
Sales Of series E bonds in WASH
ington totaled $2,356, 462 so, series F
sales amounted to $342,916 against
only 1898 ,285 in the previous month,
and series G sales totaled $780,
100, compared with $1,172,6OO in
October. all totals being at the issue
price. The small decrease in sales
was in the series E, or peoples bonds,
which were still in heavier demand
than the others.
Since the War savings bonds were
placed on sale in May, 1941, Cap
ital residents have bought series E
amounting to $33,992 ,39375, series
F totaling $5,769. 1854, and series G
in the sum of $28,543, 400, making a
grand total in the three issues of
$68, 305 ,147.75, a most impressive fig-
ure. AS in November, the series E
bonds have always been in the
strongest demand.
During November, Maryland resi-
dents bought $4,2O2;681 rs series E
bonds, $755,133 series F, and $2,123,-
300 series G.. bringing the total
since the bonds were first placed
on sale to $123,457, 57825.
Virginia also has made a brilliant
record, November series E sales
reaching $7073,025; series F, 1881 =
406.50, and series G, $2,22810O, for
total since the drive started in
May, 1941, of $39, 04O, 800.
Total sales of all three issues in
the whole Fifth District at the
end Of November had climbed to
$49o, 339 $3.50, the report stated.
Bank Law Changes Seen.
Bank law changes to aid war
financing will be asked of the new
Congress by the Treasury and other
Federal agencies, in the opinion Of
the Wall Street Journal. War
spending in 1913 is expected to top
Sl0O, 600 900 900. of which banks will
be called upon to supply more than
half.
To facilitate their task, Congress
will be asked to exempt Treasury
deposits from the Federal Deposit
Insurance Corp. assessment, saving
the banks up to 100000 a year.
Elimination OF reserve require
ments for war loan deposits will be
advocated, releasing $500. 900 900
for additional purchases of United
States issues.
Echoes Of Victory Bond Drive.
Washington's part in the record
Victory Fund Campaign is still
drawing comment in the financial
district. the final total Of $62, $50, :
745 being far ahead of the target
set by the committee chairman of
$50, 8OO, 900.
The quota was based on Washing
ton banks proportionate assets to
total bank assets in the United
States. A total of 2139 sales were
made by the banks, investment
bankers and brokers.
Among the issues sold, the most
popular were Treasury las. 1913.
which reached $18,3lO,5OO. Victory
21as totaled $13.722 300 and a per
cent certificates of Indebtedness.
SIT ,288 900.
Tax Notes Also Popular.
Series G Savings bond sales
amounted to $1,254,10O and Series F.
Savings bonds, to 1851 8O5. Series
A Tax Notes were bought In the
sum of $433.540 and the Series C
Notes, $4,6l4,O0O There was an
increase in holdings of Treasury
Bills of $6,675, 900.
The $62,659.745 figure was at
tanned only by countless number
OF personal contacts during the
three weeks campaign. In many in
stances people who had bought
practically no bonds at all, invested
In large sums.
Patriotic institutions, insurance
companies, labor organizat tons
joined with the banks and private
individuals to made the drive such
a surprising success. to the great
satisfaction of Chairman Winslow
B. Van Devanter and the other
members of the Victory Fund Com
mittee.
Market Forecasts Differ.
Washington brokers hold diver
gent views on what the New York
Stock Market Is likely to do early
in 1913. Some brokers look for
an advance as soon as selling for
tax losses is ended later this week.
Tax selling is believed to have
been lighter than year ago, but
still of large proportions, enough to
prevent any sharp rise. While the
December volume has shown sub
stantial improvement, the year-end
rise failed to get into high gear.
There Is talk in brokerage offices
OF advances in peace stocks" be-
cause of the favorable war news.
However, they have already had q
considerable move.
Dividends and earnings are still
being followed very closely and there
Is known to be a large amount of
reinvesting now taking place. The
early January markets will draw
exceptionally close attention.
Today's Trading on Exchange
Washington Gas Light IS prefer
red stock sold on the Washington
Stock Exchange today at l0OIa I'M