Evening star., 1943-09-10
War Bond Sales Off
Slightly in August
Al City Post Office
BY EDWARD c. STONE.


Sales Of War savings bonds ane
War saving stamps at the City Pos
Office in August registered decrease!
from the July returns, although ia,
ahead of the same month year ago
postal officials reported today.
The decline in sales is believed tt
be due to the steady expansion ot
the payroll deduction plan in the
distribution of the bonds. This cut,
down sales through the Post Office
of both bonds and stamps, officials
explained.
War bonds sold during August
numbered 1851, having a total value
of s749 ,062 so, in comparison Will
81 124 bonds sold in July with 6
value of S857 $3.50.
War stamp sales during Angus
amounted to 1868 800, compared with
s293,l00 during July. difference Of
S24 800. Between June and July the
drop was only Sl700 in stamp sales
It was also announced today that
In October the City Post Office viii,
adopt the payroll deduction plan fol-
War bond sales Up to this time
only the 10 per cent plan has pre-
vailed.
Bond Authorize ton Small.
State and municipal bonds voted
In II communities in seven States
during August amounted to only
S406,5 500, according to the Daily Bond
Buyer. The largest item on the
list was only Sl25,000
The total for August a year ago
was S6.873 900 and for July of the
present year, S829,500 the report
said
In August this year voters of only
three communities rejected propos-
ais to issue bonds totaling So, $50 900.
Of this amount S2100,000 was in
Port Arthur, Tex
In August, 1912, reflections totaled
sl1,799,O 900.
Small-L0an Law Studied.
The Legislative Advisory Com
mittee, studying changes in the
Virginia law regulating the busi-
ness Of small-loan companies, will
meet again on October 4, Senator
Robert o. Norris, jr, has announced.
At a recent meeting the committee
was told by an expert of the Russel
Sage Foundation that he saw merit
in the proposal to empower the
Corporation Commission to limit the
number of such companies.
w. H. Cardwell, counsel for the
Virginia Association of Small-Loan
Companies, contended the reduction
in rates by the 1943 General As
sembly from 35 per cent to 2 per
cent MONTH yhad not benefited the
small borrower.
Mr., Cardwell said records showed
1882 loans of less than S25 were
made in Virginia during 1941. while
during the first six months of l943
the yearly rate had dropped to
2,800.
Banking Hour Notices Posted.
Notices were being posted today
In Washington banks announcing
the new late banking hours, which
become effective on the last Thurs
day Of this month, when all the
banks will remain open from 4 to
$50 pm. The extra service is to be
offered on the same days that the
department stores remain open in
the evening.
The late hours previously OBJ
served by Washington banks on
Government paydays are to be dis
continued, as already announced by
A. Scott Offutt, president of the
District Bankers Association.
The new banking facilities are be-
Ing arranged for Government en-
ployes who are unable to do their
banking during regular banking
hours and are expected to prove
most helpful
The change in hours was made
with and has the approval of the
Office of the Controller of the Cur
rency and the War Manpower Com
mission.
August Chain Sales Vary.
McCrory Stores sales in August
were per cent ahead of last year:
F. w. Woolworth sales were off IA
per cent; Bond Stores sales gained
l3 per cent; G. c. Murphy Co. re-
ported OF per cent gain. and J. C.
Penny sales were down II per cent,
1t was announced today.
Other reports showed Lerner
Stores sales up 10 per cent over
August year ago and S. S. Kresge
saws IT per cent under last year
Most of the August gains were much
larger than the few declines re-
ported.
Early arrivals in the Stock Ex-
change Offices saw nearly all the
leaders open higher. Yesterday was
the first day when trading has
crossed the ,o0o-share point
since August 3, indicating substan-
tlal revival in market interest since
Labor Day and the Italian sur
render.
Power Stock at 1943 High.
A single share of Potomac Electric
Power 6 per cent preferred stock
sold at 1888. on the Washington
Stock Exchange today. new l943
high.
Columbia Title Insurance Co. stock
appeared on the board today, IL
shares moving at II.
Robert V. Fleming, president OF
the Riggs National Bank, left here
yesterday afternoon to attend the
ABA war conference in New York.
Wilmer j. Waller, vice president
end cashier of the Hamilton Ma
tional Bank, left here in the evening
for the same conference.
Washington Produce
.Ernr, ~. r..s ..-.--------.,--