Evening star., 1943-09-14
Firm Buys s1,500, 900 Bonds.


John H. Snyder, general agent of
the National Life. Insurance Co., OF
Vermont, received word today that
the institution has purchased ST.
5OO,0O0 of United States Government
2h2 per cent bonds of 1964-9, in con-
nection with the present War bond
campaign.
Since Pearl Harbor the company
has purchased $9,240,000 Govern
men bonds and $27 ,544 of Title
VI FHA insured mortgage loans, as
direct investments to aid the war
effort, according to President E. E
Brigham.
Mr.. Snyder added that the Wash
ington Office wrote more business
in the first six months of this year
than in all of 1912.
u. S. Methods Called Unfair.
Methods followed by Government
farm lending agencies were branded
as unfair by Claude F. Pack, Kansas
banker, before the ABA convention
in New York. They are seeking
business which normally should &c
to the country banks" he declared
''tAll banks should cooperate to
combat this Government subsidized
competition, he added.
u, DR.. Marcus Nader, professor OF
finance at New York University
warned the bankers they should take
into consideration the possibility OF
a depression at the end of the war
which he feels may, and probably
will, have an adverse effect on prices
of certain obligations and values"
IF the banks adopt sound in
vestment policy now they will
hquidate their doubtful assets dur
ing the course of the next few
months"
Keynes Washington Visitor.
John Maynard Keynes, British
government economist, author of
the Keynes plan for international
monetary stabilization. is in Wash
ington to confer with Treasury Off
cials on postwar financial problems
The First Federal Savings g. Loan
Association is distributing PAM
phlet to patrons which includes 20
patriotic advertisements sponsored
by the association. An essay con-
test was conducted in connection
with the advertisements. Chester
Mccall, jr., being the winner. Mrs.
Virginia S. Allen and John w. Nc
Williams were awarded second and
third prizes, respectively.
Frank A. Spicer will attend the
conference on war contracts, rene
1eotiations and examinations at New
York University September 1918.
The school of law is conducting the
conference, which will draw prom
dnent accounts and tax experts
among the speakers, including many
from the Army and Navy Depart
ments.
, Today's Trading on Exchange
! Woodward e. Lothrop common
which closed at 39a. yesterday
climbed to 40 today, and was again
at the high for the year. Sales to-
tailed so shares in 40 and 10 share
lots The final bid was 39% with
A01a asked. Washington Railway &
Electric preferred moved at 115Ea.
\ Brokers believe the great national
War bond drive is vital factor in
the present light trading on the New
York Stock Exchange. Third-quar-
ter tax payments and the war situ-
alton in Italy are two other impor-
tant factors said to be 1etarding the
trading volume
I On the New York exchange yes.
terday % stocks made new highs fol
the year and four made new lows
North American was the fifth mos
active stock In the whole list. 8.10t
shares changing hands during the
session.
The annual report of Julius Gar
finckel g. Co. shows that $163,0l3.6,
was paid in dividends to stockholder.
riilring the year and that $l54, ,639 i.
was carried to earned surplus. In,
gentories and accounts receivabl,
are in excellent condition, the re-
port revealed.
Merrill Lynch, Pierce, Fenner &
6eane is distributing booklet, 9TH,
West Changes Horses" which show
The great changes in power produc
tion In the Pacific Northwest in re-
cent years.