Evening star., 1943-05-02

$5Z,6l8,704 Subscribed,
With Avalanche Of Sales
Yet to Be TobuIoted
Bond sales In the Second War
Loan drive have surpassed the quota
here by more than $4,000, 900, sub
scr1ptions of private investors reach
ing the $52,618.7 704 mark with an
avalanche Of sales yet to be tabu-
lated, the District War Finance
Committee announced last night
Friday, which was observed in the
District as Remember Our Mar
tyred Flyers Day." produced one
day sales record for the drive with
bond sales aggregating $6 ,209 ,0o5.
Bond sales nationally and in the
Fifth Federal Reserve District also
scared far beyond the goals set at
the beginning of the drive, and
officials predicted they would go to
an unprecedented high" in final
totals. The campaign for sale of all
issues except Series E, F and G
bonds closed at midnight last night,
with local credit on the popular is
sues being given through May 8.
16 Billion Sale in Nation.
The Treasury announced yester-
day that national bond sales had
brought in more than $16,50o,0 900, 900.
1t thus became certain virtually that
the final total to be announced
about May 10 will exceed $17,000,-
100000, an excess of $4,000, 10000
over the $13,ooo,O 100000 goal.
Since banking houses were lin
tied to $5,O0o,OoO,O0O participation
in the campaign. non- banking
sources or so-called ultimate in
vestors" will have accounted for
more than $4,000, 100000, or nearly
the entire amount of the original
goal.
The Fifth Federal Reserve Bank
at Richmond reported yesterday
that sales in it's district amounted
to approximately S500,000 900, which
is S150,000,000 in excess of it's quota.
Secretary Morgenthau served no.
tice Of even greater goals in the
future even as he expressed his
pleasure at the success of the cam
paign.
The unprecedented sum borrowed
In this campaign" Mr.. Morgenthau
said, reflects the earnestness and
vigor of our national war effort. In
this, as in other ways, crushing su-
periority of United Nations arma-
ment Is assured and the defeat of
our enemies made inevitable.
Urges Steady Purchases.
But even this performance must
be bettered in the future. Both
during the drives and in the inter-
walls between them it is important
that all who have regular incomes
or accumulated funds make steady
purchases of the several issues of
savings bonds and tax savings notes
which are available at all times"
In expressing the Treasury's
thanks to "an army of volunteers"
Mr.. Morgenthau said, "the campaign
now ending marks another milestone
in our move towards sound borrow
ing from ultimate investors rather
than from commercial banks. I am
especially pleased that the increase
in total subscriptions over the initial
goal has come entirely from non
banking sources. This is the high
road of non-inf1ationary borrow
ing"
Ofhcials pointed out that the drive
already has set world financing rec
ords, the previous high mark having
been the $12,900,000, 900 borrowed in
the first war loan drive conducted
in December.
Reports continue to come into
the District War Finance Commit
tee from the thousands of local VOL
unteers who participated in the
drive through canvassing and
through clubs and other organiza-
tions.
Group Sells S1,4S6931.
Edgar Morris, chairman of the
Kiwanis Club and the local Business
Division, announced that his group,
headed by Martin Weigand, Harry
L. Merrick, John G.. Scharf and
George P. Mangan. sold second war
loan securities totaling s1,486,931.
He said the complete total is still
pending.
A War bond booth in the Com
merce Department Building, manned
during the drive by wives of officials
in the department. sold total of
100000 worth of second war loan
securities Mrs Jesse H. Jones, wife
of the Secretary of Commerce, lead
the volunteers who conducted the
daily sales.
S. P. Cohen, War bond chairman
Of Kesher Israel Congregation at
Georgetown, reported that his syna-
gogue had topped it's $4,000 goal
by nearly so per cent. Rabbi J. A.
Dubrow is spiritual leader of the
congregation and L. Edlowitz is
president
The Globe Distributing Co,
wholesale liquor concern which sus-
pended business during the drive
to permit all of its employees to sell
War bonds. announced, through it's
vice president, Herman Edlowitz.
that it had sold s350,oOo securities.
Committee Praised.
war FINANCE OIHCldlS SdlQ tne
1nterdepartmental War Savings
Committee, under the Craftsmanship
of Rear Admiral Charles Conard,
has contributed greatly to the local
campaign. Alternate members of
the committee in each of the 78
Government agencies here promot-
ed the sale of bonds lover the
counter"
The Interdepartmental Commit
tee operates as national agency
and to date has enlisted nearly two
million Federal employees. who are
investing more than $3l000,000
monthly through the payroll saw
ings plan.
Mrs. John Jay O'Connor. chair
man Of the Women's Division of
the District War Finance Commit
tee, announced that 20 employees in
a branch of the Office of the Chief
of Engineers in the War Department