Evening star., 1943-06-08
Sales Of War Bonds
In Fifth District
Reach S787,411,916
Bonk Reports Total,
Outside Post Offices,
Since Drive Started
BY EDWARD c. STONE.

w WdSlllIlS lCll. IldFe lllFeSJeu tIl6 iii
pressive sum of S757 7,411,91675 in
Series E, and G United States
War bonGs, outside of post Offices
and some other issuing agencies
since these issues were first placed
on the market. the Federal Reserve
Eank Of Richmond reported today.
Sales in the Fifth District in
April alone, outside of the post
Offices which do not report to the
Richmond Reserve Bank. totaled
e9S5l2.25.
Maryland sales in April reached
s22 .S72 ,556 of which s8,769,3 so was
placed in E bonds about S12,0000O0
In the G bonds. and the rest in F
bonds, Maryland buyers have, taken
Sl88,092 ,o68.25 of these bonds since
they were first offered.
Virginia sales in April reported
to the Richmond Bank totaled $19,-
817,646.75. The E bonds were the
most popular sales in this issue
amounting to s11.91S,618.75, at the
issue price. Thrifty and patriotic
Virginians have invested total of
$196, ,490,31250 in these War bonds.
Sales in Washington. outside the
post Offices and other agencies not
reporting to Richmond, totaled
SOL .O4691925. at the end of April
of which more than S53 10000 was
placed in E bonds. over $50 900 900
in G. bonds and SS179,338 in the
Series F issue, the Richmond sum-
mary stated.
Up to the end of April. 8267,998
pieces had been handled through
the Reserve Bank of Richmond, in
dicating the number of individual
buyers who have invested their
funds in these Government war is
sues.
Lanstnn Earnings Improve.
Net earnings of the LanSton Mono
type Machine Co. for the year ended
In February amounted to S21S,23979,
after depreciation, amortization and
other chargc-offs and miscellaneous
taxes totaling S313.505, and the set
ting up Of reserve of Sl69,74l for
Federal and Pennsylvania income
taxes. according to the printed report
being distributed to the stockholders
here.
After provision for a contingent
reserve ol 100000, the years profit
was equivalent to s232 per share,
compared with slaO per share in the
previous year, after similar $780,
600 contingent reserve.
Dividends OF So a year were paid.
Taxes amounted to s423 per share,
an increase Of o5 cents a share over
the preceding year, President
Harvey D. Best reports.
The annual meeting will be held
late this month. j. Thliman Hena-
rick of Washington being chairman
of the board.
Installment Accounts Decline.
The Federal Reserve Board re-
ports that installment accounts out
standing at department stores de-
clined 4 per cent in April and re-
manned at about one-half of the
year-ago level. Collections on in
Stallnent accounts declined 8 per
cent in April.
Charge accounts receivable IN
creased slightly. but continued 81
per cent below the corresponding
date of 1912. Collections on charge
accounts declined slightly.
Both cash and credit sales at de-
partment stores increased from
March to April, rejecting in part
Of Lot Of . CT OF
Cash sales accounted for 60 per cent
Of the total and were in much larger
volume than year ago.
install llment sales rose l3 r>r cent
In April. but were q per cent below
the corresponding month of last
year. Charge account sales were
only per cent below the year-ago
level
James on Virginia Program.
Building and loan associations
operating in Virginia and con2ti-
tuting the Virginia State League of
the national body will convene in
Richmond Thursday for the annual
conclave
Washington building and loan
leader, C.. Clinton James, will appear
on the program as representative
of the United States Savings and
Lean League Mr.. James, former
president of the national organiza-
ton and of the District of Columbia
Building and Loan League, is vice
chairman of the Legislative commit
tee of the parent group.
Air Cargo Traffic Mounts.
A mounting volume of wartime
cargo carried by Transcontinental
& Western Air, Inc, during the frs.
four months of l943 was reflected
in preliminary figures released to-
day by Denis Murray local traffic
manager
Air-mail shipments over TWAS
transcontinental system aggregated
s,39l,977 pounds. an increase of 81
per cent over the corresponding
four-nonth period of 1912. Air eX-
press shipments in the same period
amounted to 2.1360aa pounds, a gain
Of 70 per cent, the preliminary
report showed.
The heavy Gains were recorded in
tlle idCC u Il IL pei CE1iI ucCilie
in the number of revenue miles
TWA operated in the January April
period.
Gulf Oil Stock Quickly Sold.
Washington investment dealers
participating in the sale CT 764,500
shares Of Gulf Oil Corp, capital
stock, offered by the Mellon Sc
curities Corp. at s4750 a share, to-
day reported large oversubserip-
ton.
The stock was reported in good
demand here. partly because men,
bers Of the Mellon family are holders
of large portions OF the issue.
About 10 prominent Washington
investment houses were among the
firms Offering substantial blocks Of
the stock. They were much pleased
with the results.
Financial District Comment.
Potomac Electric Power per cent
preferred stock sold at I'LL, on the