Evening star., 1942-12-10
Victory Bond Sales
Reach S39,o00,o0O
In Capital Area
Chuirmon Vondevonter
Reports $4,000, 900
Sold in Two Days
BY EDWARD c. STONE.

:" wv OuyS
BY EDWARD c. STONE.
sales in Washington of the 50 000.- :
100000 Victory Loan bonds have
reached approximately $se, ,ooo, 900,
Winslow B. Van Devanter, chair
man OF the Districts Campaign
Committee, announced today.
This is a gain Of about $4,000, 900
since the initial report was made
to the committee Monday after
noon. showing a total up to that
time Of $30,054,99o.
The $39 100000 total is the figure
made up largely of purchases by
big corporations and does not in
clude sales to small investors, which
have not yet been reported.
Hugh Leach, head of the Rich
mond Federal Reserve Bank. an
nounced last night that fifth district
Victory loan subscriptions have
reached $2l3,344,020, with S11s,94S,-
G20 sold to investors other than
commercial banks. The banks have
taken $s4,396,000 las Treasury
bonds.
Maryland subscriptions have
reached the $52,664,904 mark; Vir-
ginia's, s22 1886, ,532, and West Vir-
ginias $9,501 ,48O.
Extra Dividend, Bonus Voted.
~f
merce and Savings have declared
the usual quarterly dividend of $3.50
per share, and an extra dividend
of $3.50 per share, both payable
December 81 to stockholders of
record December 21. This action
brought total dividend distribution
for the year up to $40 per share.
which is in line with the amount
paid for the past several years.
Thomas j. Groom, president of
the bank, also announced bonus
payment equal to one months SAL
ary to those members of the oper-
atlng staff in the service of the in
stitution prior to July /. 1912, and to
those employed since that date an
amount equal to one-half a months
salary.
Regular Dividend Declared.
Directors Of the National Savings
& Trust. Co. have declared a divi-
dend Of 81 per share on the out
standing stock. payable February
to stockholders of record at the
close of business January %, Presi-
dent Bruce Baird announced today.
This Is the same amount as paid for
some years.
The Washington office Of Merrill
Lynch, Pierce. Fenner & Beane is
distributing a pamphlet giving q
full description Of all the Treasury
Victory issues now being offered the
public.
Charles E. Merrill, head Of the
firm, says: LAS investment bankers
we recommend United States Gov
eminent securities because their in
trinsic investment merit ranks them
as the best and safest investment
In the world"
Wholesale Trade Up Slightly.
Sales of 2l5 wholesale firms in
the Fifth Reserve District in Oc-
tober were 3 per cent above Sep
tember and fractionally above Oc-
tober. 1941, the Richmond Reserve
Banks November review states.
Sales totaled s17.857O 900 in October,
against $17,362 900 in the preceding
month and $l7,789, 900 in October OF
last year.
Trade was spotty in some II lead
Ing wholesale lines. Tobacco and
tobacco products scored a gain OF
~ per cent over October, 194l. The
next best gain was made by dry
goods, up Is per cent. while gro
ceries sales climbed IS per cent.
Shoes and drugs made the same
showing, both registered sales
gains Of 13 per cent, while the de-
mand for industrial supplies was
per cent better than a year ago.
On the other hand, sales of II
leading auto supply firms were
down IA per cent Sales of electri-
cal goods dropped SO per cent.
Paper products sales dropped %
per cent from October a year ago,
and hardware business declined
per cent, while the survey showed
that sales of SO miscellaneous
firms were off per cent.
Post Office Bond Sales Off.
Sales of United States War bonds
and stamps at the city post Office
and branches in November revealed
small drop from October, as more
and more corporations and indi-
viduals adopted the 10 per cent
payroll deduction plan, postal off,
cials announced today
During November 20,928 bonds
were sold through the City Post
Ofice. amounting to $731 ,0O625 at
the selling price, compared with
23,264 War bonds in october, with
value of $817143.75.
November War stamp sales
amounted to, 1892 1894 90, in COM
parison with SAG, ,999.75 in October.
Many people who were buying
stamps are now taking bonds in
stead, the Government Offices in
which they are employees getting
the bonds from the Reserve Bank
OF Richmond and not through the
post ONCE, officials explained.
Holderman Addresses Club.
Fred G. Holderman, agency man.
ager Of the Equitable Life Assurance
Society of New York, addressed the
Life Insurance Club of Washington
at the December meeting at Taft
House on the Mental Attitude of
the Life Insurance Agent" Dinner
preceded the address, Frank Jude,
club president, presiding.
Controllers to Study Taxes.
Herbert S. Wood senior technical
adviser and co-ordinator of re-
search of the technical staff of the
Bureau Of Internal Revenue, will
address District of Columbia Con-
troll of the Controllers Institute of
America at dinner meeting next
Tuesday at the Carlton Hotel. His
subject will be Relief Provisions of
the Excess Profits Tax" The Bal
timore Control has been invited.
Gas IS Preferred Strong.
Washington Gas Light S. pre-
fArrcd cforR WoS strong nm tho