Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-01-25
DC. War Bond Sales
In December Reach
.S5,686, 1877 Total
Residents Have Bought
S73,oo1 1885 Since
Sturt of Drive
BY EDWARD C. STONE.

Stdtt VI SttVS
BY EDWARD c. STONE.
Sales of United States Savings
bonds in the District of Columbia
in December, outside of postoffices
and certain other agencies, totaled
$685. 1925, it was learned from
the Federal Reserve Bank of Rich
mond today. This was substantial
increase of 1855, 7o875 over No
vember, when sales amounted to s4,-
029,478.50.
Washington people liked series
E, called the Peoples bonds, the
best, sales reaching s3648,656.25.
Sales of series r bonds totaled
s342,73l, while series G bond sales
aggregated s1,6948oo. Sales Of the
three series since the campaign
started year ago In May have
now reached grand total Of s73,-
99l, 1886, the report showed.
Maryland residents were heavy
War bond buyers in December, sales
in the three issues amounting to
SO GOT ,942. During the month sales
in series E bonds totaled S. DOT ,825;
series F, S567,617, and series G, So
432 500. Since the drive started,
Maryland sales have reached $780,
1856, $50.
Virginians made still better rec
ord, sales amounting to s15,6l5,-
465 Is Series E sales totaled So
813,61875; series F, s1,637, 046.5o. and
series G. S4,164,800. Virginia sales
have mounted to s137, 646,997 since
the bonds were first offered.
Total sales of all three issues in
the whole Fifth District at the end
of December had claimed to $544,-
051 ,068 so. compared with total
of $500 1886, $3.50 In November, a
sensational gain of $50, I'll 200 in
the final month of the year, the sur
vey revealed.
Trust Program Announced.
Washington bankers have received
the full program for the Midwinter
Trust Conference of the American
Bankers Association, to be held in
New York. February 9, 10 and IL.
The dual theme of the Ave sessions
will be Winning the War" and
Problems of Trusteeship in War
times"
Planning to attend the conference
from Washington are John A. Reilly
and Edward F. Colladay, Second Ma
tional Bank; Willard G.. McGraw
and J. Wesley Clampitt, jr., Union
Trust, and Bruce Baird and j. Fon-
tame Hall, National Savings g. Trust.
Several other bankers expect to
make reservations shortly.
Banks Supply $50 to Services.
| Washington banks have supplied
$50 men to the armed services,
enough to staff completely five OF
the city's average-sized banks. Many
of them have seen action at sea. in
the Solomons or III Africa.
According to Dollars and Sense,
published by the Washington Chap
ter, Amerincan Institute of Banking,
the number of bank officers and en-
ployes affiliated with the chapter
this year has declined to 1862, of this
number "a being sustaining mem
bers.
OF the 278 active members, ITS are
women. the highest number ever be-
longing to the chapter. Last year
the chapter membership was made
up of scarcely 10 per cent women.
President George M. Rowzee, jr.,
and the members Of the Educational
Committee are making special ef-
forts to increase the number Of new
workers taking institute banking
| courses.
Excess Bank Reserves Drop.
The Federal Reserve Bank Of
Richmond reported today that
excess reserves Of member banks
declined sharply in the lat week of
December and during the first half
| Of January.
Large payments to the Treasury
| for new securities, some increa5e in
| currency and other year-end re-
| quirements were responsible for the
drain on reserves, the review stated.
Loans to brokers and dealers rose
sharply in December during the
Victory fund campaign, but declined
| correspondingly in early January.
Other loans continued to decline.
Long term taxable bonds are
yielding 2.32 per cent on the aver
age and long term partially exempt
bonds 2.06 per cent, the review
said.
Mergenthaler Remains Strong.
Mergenthaler Linotype was strong
| on the Washington Stock Exchange
today when it sold at 40, the recent
high for several years. The final
bid was SO with Al asked The stock
sold in Boston Saturday at $3.50.
off 1is. ..
Riggs National Bank common
stock was wanted on the Washington
Exchange again today, 10 shares
going at $50, unchanged There was
a wide spread in quotations, with
the closing bid at 245 and the asked
price at 260.
Potomac Electric Power per cent
preferred moved at 1865 on small
turnover. The ex-dividend list Is
again expanding and now includes
the Washington Gas issues, Riggs
preferred, National Savings. Wash
ington Loan and American Fire In
surance.
Heard In Financial District.
The Washington Clearing House
Association is arranging to handle
the new ration banking items. Out
of town checks" will be cleared
through the Federal Reserve Bank
of Richmond
Passage of the bill to merge the
Western Union and Postal Tele-
graph Cos. is predicted in the Senate
this week
Robert L. Lockwood formerly with
the British Ministry of Supply, has
been made assistant traffic manager
OF Smiths Transfer 81 Storage Co.