One of Pan American Airway's fleet of Douglas Clippers*
which has been re-converted from military to commercial use
for its Alaska services* passes the critical eye of Stewardess
Barbara Fowler, who is flying aboard them.
THE ‘RUN’ ON
WAR BONDS
By JACK STINNETT
WASHINGTON — Few moves
I
in the war on the home front |
caused more consternation in'
Treasury Department and bank-1
ing circles than the results of
the Treasury’s well-intentioned
order to let the banks make im
ralediate cash-ins of war bonds.
In Washington and a good
! h. POLAR CURIO j
I Souvenirs SHOP D“d*
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| Ray Ban Sunglasses 1
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| Costume Jewelry, Fashioned of Alaska Gold 3
and Ivory 3
Hand Etched Ivory Lavaliers |
Hand Etched Bracelets with Gold Nuggets j
Hand Etched Brooches with Gold Nuggets |
Alaska Rings for Men, Women and Children I
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ALASKA AIRLINES !!
I “Alaska’s Air Transportation System” ;;
| Phone MAIN 66 FRONT STREET I
I
many other cities throughout the)
country, banks were swamped j
with persons hastening to get rid
of their small-denomination
bonds. Figures on the ‘‘run”
won’t be available for some days
yet, but some of the reasons for
| it already are drifting.
| In the first place, the decision
j of the Treasury to let the banks
handle immediate redemption of
the bonds was ror purely psy- j
chological reasons. Numerous
bond buyers had complained
that when they needed ready
cash for emergencies, they had to i
wait days to get their money, j
Others objected to waiting in
long lines while the slow process
of identification was made by
clerks with whom they had
never had any contact.
* * *
There was another factor. War
finance agency officials in the
Treasury concluded that nothing |
would stimulate the war bond |
sales more than the assurance J
that all the holders had to do
was to take them to their bank
tellers, lay them down and pick
| up their money.
The Treasury anticipated a
rush to cash in as soon as it was
made easy. Neither they nor the
banks expected what happened.
Why? In the first few days,
that became the paramount ques
tion in war finance agency cir
cles. Most of the answers are in
now. Broadly they fall into two
groups. One is amusing; one isn’t j
so funny. j i
The funny one is that a lot of
people holding war bonds got the
! idea that the Treasury wanted
them to cash in the bonds now.
How this misapprehension arose j
despite the fact that nearly all
“buy bond” publicity in newspa
pers, magazines and on the ra- j
dio in recent months has been
accompanied by an almost equal
amount of “hold-your-bonds*,
urging.
* * *
I
The not very amusing reason
given by some small denomina_
tion holders was that they were
working for firms which frowned
; on not being 100 per cent in em_
ploy deductions from wages for
bond purchases, that they were
afraid of losing their jobs unless
they agreed to such deductions
and consequently had gotten be
hind in payment of personal
bills.
This is something the Treasury
has never urged. It is glad to
make it easy for those bond
holders to catch up on their liv
ing expenses.
Out of some of these reports
from the banks has comp veri
fication of something else the
Treasury has known all along;
that there are a lot of ‘‘turn
over” bondholders; show-offs
who wish to impress heir neigh
bors and friends by saying *‘I
bought another bond today,” and
th^n sneak off and cash it in as
soon as the law allows,
i The war bond campaign is an
' important phase of financing the
i war; it’s considered by many
even more important as a means
| toward avoiding inflation and
j laying by funds to keep prosper
; ity rolling when peace comes
again.
Buying bonds and cashing
! them in as soon as possible
doesnt’ help. However, Treasury
officials aren’t alarmed. Already
there’s a big tapering off.
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instrument repair, overhaul of
all types of gyro, pressure
electrical instruments, com- j
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dio. Dewey’s Instrument Ser
vice, P. O. Box 2162, Anchor- -
age, Alask.. Jn ,
FOR SALE—5-room house com- ‘
pletely furnished. Call Walt j <
Taylor, Red 102, after noon, '’i
»
I
7%0 POSTWAR TRAILER to fit all State Laws
light ARMS TO MFFT
ANY REGULATION
SPECIAL LICENSE f
Plate raca for
OUT-OF-STATE '
PLATES
V ADDINS MACHINE
COMPOTE SPECIAL STATE
taxes enrolls
Ike Doodlesehmalz M.E., D.D.S.—independent industrial engineer
de luxe, has submitted t’ is de ' >:n to the Fruehauf Trailer Company
as the answer to some of F e dieting State laws and trade bar
riers which prevent • • from properly serving the public.
Maybe he has s
FOOTBALL
FINALS
[ SEATTLE, Jan.. 3.—(AP)—
Following are the New Year’s
football finals:
Cotton Bowl: Oklahoma A. &
M. 34, Texas Christian 0.
Orange Bowl: Tulsa 26, Geor_
gia Tech 12.
Sugar Bowl: Duke 29„ Ala
bama 26.
Sun Bowl: Southwestern 35,
Mexico 0.
Rose Bowl: Southern Calif or
nia 25, Tennessee 0.
East-West: West 13, East 7.
Spaghetti Bowl: Italy Fifth
Army 20, Twelfth Air Force 0.
Flower Bowl: Tyler College
18, Greensboro, N. C., I. & T. 0.
NOME BOY SENDS
GREETINGS
Word has been received from
Staff Sgt. Howard Lobbley, for
mer Nome dog-musher, from
somewhere in the Pacific area.
Howard sends his best wishes
and regards to all his friends.
Read it in The Nugget.
| Received By |
| Air Express! I
♦♦♦ . *j*
♦!♦ A Large Assortment of Ladies’ and Misses ♦♦♦
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x ALL-WOOL SUITS Y
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X 11.30 TO 35.80 X
X X
X NOW ON DISPLAY AT THE X
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Y Y
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