Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-11-10

Chairman Earl u. JonSCher VII
preside.
Mr.. Stephenson. a native of NORTH
Carolina, graduate of Wake Fores
and Harvard and former practicine
attorney, now devotes all his time te
trust research and has addressed
bankers all over the United States
Recent Bond Sales Analyzed
Washington's investment bankers
are still talking about the address
of Edward B. Hall. assistant to the
Secretary of the Treasury. at the
IBA convention, in which he re-
viewed the last War Loan drive.
He was particularly enthusiastic
over the person-to person sales
method.
Over 52,500000 pieces of E bonds
were sold, compared to $4,000 900
in the Second War Loan drive. In
dollars, nearly s2,500000,000 of E
bonds were sold, compared with ST.
s0o000000 during the second drive.
Two new ideas that worked eSpe-
eially well related to plant quotas
and the efforts to sell an extra
500 bond whenever possible, The
size of the volunteer sales army was
one of the biggest reasons for sue
cess.
Mr.. Hall noted some bad selling, .
such as the sale of one type of bond
to buy another and many diI oct
purchases by individuals who Dor
rowed from banks to make the pay
ments.
His most surprising assertion was
that in spite of all the advertising
about IS per cent of the adult popu-
lation did not know there was a
War Loan campaign going on.
Real Estate Bonds Higher.
October saw the real estate bonds
In the Amott Baker averages &C
higher for the 10th consecutive
month, the gain being l per cent
and making the years advance 81 g
per cent, Washington realty bonds
are always included in this list.
The average price per 81 900 bond
at the end of October was S402 COM
pared with 1896 in September and
$3.50 at the close of 1912 Philadel-
phla recorded the sharpest October
gain. 81 per cent.
Hotel and apartment hotel groups
continued as the leaders. Hotel is
sues were up 80 per cent and apart
ment issues % per cent, the review
said.
Reserve Bank Seeks Pennies
In order to effect a better diStri-
; button of pennies to meet the needs
of banking and business in the
present emergency, Hugh Leach,
president of the Federal Reserve
Bank of Richmond today requested
all banking institutions in this ter
ritory to ship all their pennies in
excess Of immediate needs to the re-
serve bank or to the branch Offices
in Baltimore or Charlotte, which
ever is nearer.
The Richmond Bank will absorb
all transportation charges of both
member and nonmember banks, Mr.
Leach said.
Financial District to Close.
All the banks, building and loan
associations and investment houses
will observe the ArmiStice Day holi-
day tomorrow. The Washington
stock Exchange will also suspend
operations. Banks and most Of the
building and loan associations will
remain open from to $50 on Fri
day for their late hour" customers
The Washington Gas Light Co
and subsidiaries reports for the Il
months ended September 80, net
income of $l,4l4,73l, after charges
and Federal income and excess
profits taxes, compared with $1,000
$50 in the preceding II months.
Stock Exchange Offices were
crowded again today at the opening
when a majority of quotations were
factionally higher. In yesterdays
market Baltimore e. Ohio common
was the second most active stock
with 26,600-share turnover.
Today's session of the Washington
Stock Exchange was one of the mos
active in months. Transit was in
heavy demand, closing at 1914
Potomac Power 5l2 per cent pre-
TERED was also especially In demand
A.