Evening star., 1943-07-16
Richmond Bank Cites
Increase in Capital
War Bond Sales
BY EDWARD c. STONE.

Sales of Series e United States
War savings bonds in Washington
in June, outside of post offices
and certain Government issuing
agencies, totaled s8,313,S625o, an
increase of almost 100000 over
the May total, the Federal Reserve
Bank of Richmond reported today.
The peoples bonds" were much
more popular than the F and G
bonds during the month, the report
discloses. ....
Series r Bond sales amounted to
s1s6, ,655 against ST, o4.33o.50 in the
preceding month, while Series G
sales amounted to $685., 700 COM
pared with S3,248,700 in May, the
decreases being assigned by bank
ers largely to the June is income
tax payment.
The total for the three issues
of $9,346,2l7 compares with a May
total of s1o,97l ,88975. Since these
War bonds were first offered the
public. sales in the District have
reached $121 1854 ,25475 in the E,
F and G issues. r.
Sales of these bonds in May and
June totaled $13644, ,04875 of which
$10.922, ,71625 were in E bonds. Vir-
ginias record was higher than
Maryland's. sales reaching $14,852,
1850 in June, Of which E bond
sales totaled s11,910,262.50 Fur
thermore, these figures were at
tanned in month which included
no special drive.
Sales in whole Fifth District
since year ago last May have now
reached s910,442,28425, outside of
the post Offices. the Richmond
Bank report concluded. The total
includes the purchase of 9,900,703
different bonds, or 'pieces" as they
are recorded at the bank.
Banking Bills Await Action.
Two bills directly affecting bank
ing were left before the House
Banking and Currency Committee
when Congress adjourned, accord
ing to a bulletin sent by D. ].
Needham, general counsel of the
American Bankers Association, to
secretaries of State associations.
One of these bills would increase
the amount of deposits covered by
Federal deposit insurance from S.
900 to $4,000. The other House bill
would restrict and regulate bank
holding companies.
A number of bills were recently
introduced in Congress relating to
premiums on war damage insur-
ance policies without payment Of
further premiums. Others would
require return to policyholders of
unused premiums at the end of the
war. No committee action has been
taken on any of these measures.
The bill extending to July /, 1945,
the period during which the land
bank commissioner may make loans
on behalf of the Federal Farm
Mortgage Corp. became law on
June 26.
The bill amending the Federal
Feed and Seed Loan Act was passed
by the Senate. The companion bill
in the House is still before the
House Committee on Agriculture.
the present status of all pending
bills being retained.
Views on Market Bullish.
Moody's continues bullish on the
long-range outlook in the stock
market and advises purchases of
selected issues. Standard Statistics
sees higher prices over the medium
Of longer term and expects an ad-
vertising boom after the war
United Business Service recon-
mends selected purchases of "be-
hind-the-market issues" Barron's
Weekly says prospects, rather than
current earnings, are back of the
rise in most stocks.
Traders and brokers were pleased
that yesterdays late slump did not
carry through at today's opening.
Thursday saw 95 new highs. Brokers,
however, report more caution among
buyers.
Today's Trading on Exchange.
Trading was unusually active on
the Washington Stock Exchange to-
day. Capital Traction SIS came out
at 105&, close to the high for the
year.
Washington Gas common was in
good demand ex-dividend at the
new high of 221a, and American
Security again sold at 200.
Mergenthaler opened and closed at
the new high of so. Capital Transit
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