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Chairman Eccles ;

January 9, 1 ) .
945

Attached is a final report on the Sixth Vfar Loan. The
final total was 21.6 billion dollars compared with 20*6 in the
Fifth drive.

Individuals ptirchased 5*9 billion collars, compared

with a goal of 5 billion and sales of cJLj. billion in the Fifth
drive.
Sales to banks under the time deposits formula amounted
to one billion dollars and allotments to Government agencies and
trust funds

amounted to 7&2 million. Thus, over 23 billion dol-

lars were raised in the drive period.
Loans were about the same as in the Fifth drive. Loans
by weekly reporting member banks to brokers and dealers for purchasing or carrying Government securities increased by about 500
million dollars in the Sixth and Fifth drives. Such loans to
others increased by 1.2 billion in the Sixth compared with 1*3
in the Fifth drive.
4 preliminary guess on the securities purchased by the
Federal Reserve Banks and commercial banks during November and
December would be in the neighborhood of 8 billion dollars. In
June and July they took 9«U billion. For the year it appears
that the banking system purchased about 2)4 billion dollars of
Government securities or 39 P e r cent of the 62 billion dollar
increase in the debt.

In 19U3 they absorbed 2 4 billion dollars
I.

or I 2 per cent of the increase in the debt.
|




FINAL REPORT
Sales of Securities in the Sixth War Loan,
by Glasses of Investors and by Issues

CONFIDENTIM

(In millions of dollars)

Savings bonds
(at issue price)
Class of investor

Total
Series 1

Series
T and 0'

Savings
notes,
series
0

7/8$ cer- 1-1/4*
tificates Treasury
of indebt- notes,
edness,
9/15/47
12/1/45

2-1/2*
2*
Treasury Treasury
bonds.
bonds,
12/15/52-54 3/15/66-71

Individuals, partnerships, and
5.S82

2,b68

Corporations and other
investors:

522

6

210

1.295

502

/9S
133

339

1.339
2,018

1.603

3.196
2,31^
3,007

161

2,239

3,244

807

1.332

5*
317

10
*

?7

56

64

k6
54
k

423
181

1

3
*
*

18

8

18

in

11

198

333

126

15.739

Federal agencies and
federal trust funds.
State and local

1
*

1.299

Corporations and
associations
Building & loan and
savings A loan
associations

l

197

2.283

1.34O

5.644

2.209

719

2.429

1.550

6.939

2.711

18

52*

Total for corporations and
a , 621

2,S6S

Office of the Secretary of the Treasury, Division of Research and Statistics.
* Less than $500,000.




116
222

4,o66
H,lK>5

January 6,

FINAL

Comparison of Sales of Securities in the Six War Loans by Classes of Investors and by Issues
(In millions of dollars)
Sales to nonbank investors
Security and War Loan

Savings bondst (at issue price)
Series St
rirst War Loan
Second War Loan
Third War loan
Fourth War Loan
lif th War loan
,
Sixth War Loan
Series F and G:
First War loan %J
Second War Loan 5/
Third War loan
Fourth War loanFifth War loan
Sixth War loan

•

Series C savings notes:
First War loan 5/
Second War loan *J
Third War loan
Fourth War loan
Fifth War loan
Sixth War loan
Treasury bills* §J
First War Loan
Second War loan

Total
Sales
sales
to a l l to comlures- mercial
tors banks 1/

Individuals •
Treasury
partnerships, InsurCorpora- Dealers State investand
Total and personal ance Savings tions and and
ment
local
trust
combanks associa- brokers govern- accounts
accounts
panies
tions 2/ 2/
ments

hi

726
1.473
2,472
3.187
3.036
2,868

726
1.473
2,^72
3.187
3.036
2,868

726
1.473
2,472
3.187
3.036
2,868

288
667
831
1,024
818
719

288
667
833.
1
818
719

216
425
565
573
574
522

1.335
1.652
2,483
2,232
2.575

1.335
1.652
2,483
2,232
2.575

188
132
193
183
181
146

121
246
66
j6
U6S
339

123
136
207
170
150

353

2%

906
810

2,121

Certificates of indebtedness:
First War Loan (12/1/1*3)
Second War loan (4/1/44)
Third War loan (9/l/W
Fourth War loan (2/1/45)
Fifth War Loan (6/1/45)
Sixth War Loan (12/1/45)
l-l/ty* Notes:
Fifth War loan (3/15/47)
Sixth War loan (9/15/47)

M7°
4,405

1.67?
3.104
4,122
5.036
4.770
4.405

1.948
1,550

1.948
1,550

1-3/Ujl Treasury bonds:
First War Loan (1948)

3.062




I

1
35
2
1

58
207

30
39
28
18

172
7
1.520
2,262
1,997
2.271
2,2^2

1

3
2
1

26
120

906
810

3.800
5.251
4,122
5.036

k
35

2,.061

1,001

210

76

51
105
119
136

899
2.033
2,803
3.U79
3.318
3,282

U50
355
322
266
XkS
6U

82
2Ul
376
U52
582
52U

309
98

121

913
857

13
3

119
198

240

86

318

30

(Continued, on following page)

133

REPORT
Comparison of Sales of Securities In the Six War Loans
by Classes of Investors and b y Issues (Cont'd)

CONFIDENTIAL

(In millions of dollars)
Sale8 to nonbank investors

Security and War Loan

Total
Sales
sales
to comto all
inves- mercial
bankf l/
tors

Total

Individuals*
State
Corpora- Dealers
partnerships, Insurand
ance Savings tions and
and
and personal
.local
combanks associa- brokers
trust
governpanies
tions 2/
accounts
ments

2/

2$ Treasury bonds:
Second War loan (1950-52)
Third War Loan (1951-53)
Fifth War Loan (6/15/52-5*0
Sixth War loan (12/15/52-5**)

H.939
5.257
5.229
6,939

2-l/4$t Treasury bonds:
Fourth War loan (1956-59)

3.331

3.331

2-1/2$ Treasury bonds:
Tirst War loan (1963-6S)
Second War Loan (6/15/6^-69)
Third War Loan (12/15/6U-69)
Fourth War Loan (1965-70)
Jifth War loan (1965-70)
Sixth War loan (1966-71)

2,831
3.762
3.779
1.920
2.263
2,711

2.831
3.762
3.779
1.920
2.263
2.711

502

7.860
13.U76
18.9UU
lfr,73O
20,639
21,621

1.593
3.290
5.377
5.309
6.351
5.882

Total - All securities:
First War loan
Second War Loan
Third War Loan
fourth War loan
Tifth War loan

Sixth War loan

12,9*7
18,555
,9*&
16,730
20,639
21,621

2,122

5.OS7
5.079

2,817
5.257
5.229
6,939

703
89*
92*
1,339

832
1.357

189

1,032
1.250
2,018

1,773

181

82
123
249
333

517

801

1,028

722

158
117

88
181

561
352

*83
550
35*
61
68
116

92
8

235
1U7
163
136

1.699

620
1.195
1.508
1,262
1.52]

y

10*

1.382
1.582
1.585
1.095
1.357
1.603

Treasury
investment
accounts

1,220
1.322
1,295

1*08
620
lUl

769
3.196

539

kso

9
18

2,625
5.1*7
7.121
6.796
8,201
8,613

886
5**
89*
*33
533
317

200

503
795
789
1,260
1.299

*

151

239
350
630

Office of the Secretary of the Treasury, Division of Research and Statistics.
January 6, 19*5.
Note: Figures are rounded and do not necessarily add to totals.
*
Less than $500,000.
1/ Included only in first two War loans.
2/ Includes Federal agencies and Federal trust funds whose purchases, amounting to $32 millions in the First War loan,
$*2 millions in the Second, $82 millions in the Third, $1*9 millions in the Fourth, $32 millions in the Fifth, and
$*2 millions in the Sixth War loan, were not handled through the facilities of the Treasury Department. Also includes
building and loan and savings and loan associations, separate sales tabulations of which were madfe for the first time in
the Sixth War loan as shown on first page.
2/ Figures for the Second War loan exclude amounts distributed or earmarked by dealers and brokers for distribution to nonbank investors; these amounts have been distributed to appropriate nonbank Investor classes.
h/ Included only in first three War loans. Treasury investment accounts represent those Federal agencies and Federal trust funds
whose investments are handled through the facilities of the Treasury Department.
5/ Sales of F and 0 savings bonds and Series C tax notes to investors other than individuals, partnerships, and personal
trust accounts during the First and Second War Loans have been arbitrarily assigned to • corporations and associations11.
First War loan sales include small amounts of Series A tax notes.
6/ Figures shown represent net increase in amount of Treasury bills outstanding during months of December 19*42 and
April 19*3. respectively, and have been arbitrarily assigned to commercial banks.




FINAL REPORT
Comparison of Quotas and Sales of Securities in the Sixth War Loan, by States

CONFIDENTIAL

(Dollar figures are in millions)
Individuals , partnerships,
and personal trust t
iccounts

0

State
Quota

Sales

Percent
ofquota
accomplished

Quota

64
19

9
7

140

145

59

25

Alabama
Arizona
Arkansas

37

lJW

15

128
132

173

180

202

225

I4J4.
(Northern.
a(

Colorado
Connecticut
Delaware
Dist. of Columbia.
Florida

185
%L

64
491

55
9
96

28

10

16

212

249

7 201
6

30
8
17

102

115

49

132

22

llU

52

101

47
87

126

37
284

QJI

122
150

15
46

18
54

122
117

5 6 189
3

19
51

58
141

9
5

48

127

161

127

71

70

99

87 182
91 163

31

130

161
34

74
14

6
7
19

90
138

351

400

239
178

35
6

152

120

323

182

98

Kansas••••••••••••
Kentucky
Louisiana.....•••.
Maine
Maryland..• • •

98
104
110

^3
161
146

63
55
56

53

210

76

417

It
III

Massachusetts
Michigan
Minnesota...••••••
Mississippi.•
Missouri

706

1,021

472

65
3
39
9

276

74
423

32
94

13
3

11

33
567

50
14

7
3
95
7

122

161

683

1.133

119
80

232
181

166
195

3
5

25

121
124
106
92

146

26

66
92
87
51

190
188
161
195

38
27
31
12

276

265

41

141

133

104

145
13$
186
158

173

15
7

53
3

13
5
17
5

118

101
110
121
144
118
154
104

15

8

138

13
231

111

5
36
8

142
128
221

172

103
30
17
52
6
12
181

127

(Continued on following page)

34

226

106

250
125
43
139
26
54

6
30

4

198

228

9 169
5
15

III
S
59

846 159

53

i3
118

12

131

1H
9
75

111
110

136

28

115
102

32
Ik

3
9

ill
94

87

92
148

106
105

141

17
158

31 183
283 179

5
5
18
6
3

161

10

62
2k
68
16

7 188
9
6 115
60 284
745 1 3
9

31

35

21

24

121

72

385
274

245

118
109
108

6
35
37
H
i

244
112

42

13U
136

17
*
1U9

91

114
110

ko

Percent
of quota
accomplished

11
20
111
1*

185
168

37

56
56
9

Sales

19
27
311
371

166

1.532

••

38

Quota

129

1,034

Montana. •
Nebraska... •
Nevada
Rev Hampshire
H
Jersey

37

108
125
131
104
111

Quota

Percent
of quota
Sales accomplished

Series IJ savings "bonds
(at issue price)

622

7*
35
7
jig

124
148
148

Georgia
..
Idaho
Illinois
Indiana...........
Iowa




Percent
of quota
Sales accomplished

Corporations and
other investors

3
7

94

4

8
101

113

134

108
160
113
117
119
108

FINAL REPORT
Comparison o f Quotas and S a l e s o f S e c u r i t i e s i n the S i x t h War Loan, b y * S t a t e s (Cont'd)

(Dollar figures are in millions)
Individuals, partnerships,
and personal trust accounts

Total
State
Quota
New Mexico
Rev York
Horth Carolina*
North Dakota...
Ohio
Oklahoma
Oregon
Pennsylvania, •.
Rhode Island, . ,
South Carolina.
South Dakota...
Tennessee
Texas
Utah
Vermont
Virginia
Washington. ••••
West Virginia,.
Wisconsin,.....
Wyoming
Alaska
Canal Zone
Hawaii
Puerto R i c o . . . .
Virgin Islands.

15
121
29
713
90
107
93S

P
k

21

6.673
k
I
1,050
138
157
1.299
14S
* 79

29
117
klk

7
220
592

%
2k

g

136
177
69
253
11

2*8
335
l**

20
7

139
158
205
162

138
188
162
162
188
1*3
I65
169
182
189
209

387
18
3

Unallocated.•.•
Total s a l e s , . , «

Percent
of quota
Sales accomplished

2

31

*37

Corporations and
other investors
Quota

9
800
61
18
288

11
1,010
95
28
302

.123
126
155
155
105

6
3.*26
60
11
*25

*9
62
370
36
25

7*

*1

*22
29
3*

150
101
11*
80
138

568

9

s

U9
*5

2*

61
225
18
9

7*
272
23
8

126
122
121
126
95

10
56
189
16
15

23
1*6
320
3*
32
1*9
229
76
261
9

Quota

J

69
88
39
107
6

11
6

21,621

10
5.66*
15*
19
7*8
6*
95

67
89

876

Leas than ^




Quota
5
295
3*

156
210
15*
278
188
230
261
169
210
21*
222
258
25*
179
175

2
2
16

1*2
1*3
9*

26 - 29*
25 2,*98

11
151

180

s

11
30
105
12
5
38
53

133

5

£
5

21
55
3

10
*

5,000

5.882

118

9,000

15.739

4

20
167

Percent
of quota
accomplished

g
llU
12U
181
110
133
120

U

16
21
15

£
l*

5

%

8
6
2
1

?

KA
132
120
120
115
100

137
123
111
120
213

3

-18

*7
15U

Sales

5

1*3
120
175
117
115

Office of the Secretary of the Treasury, Division of Research and Statistics,
Note: Figures have been rounded and do not necessarily add to totals. Percentages have "been
computed on unrounded figures.
*

Series X savings 'bonds
(at issue price)

16*
165
256
173
176

99
106
68
125
9

33
1U.000

Percent
of quota
Sales accomplished

Percent
Sales of quota
accomplished

139

211

CONFIDENTIAL

175

2.500

2,868

115

January 6, 19U5.

FINAL REPORT
Sales of Securities in the Sixth War Loan, By States and by Classes of Investors

CONFIDENTIAL

(In millions of dollars)
Sales to individuals, partnerships,
and personal trust accounts
(Classified by securities)
State

Total
sales
Total

Alabama
,
Arizona
<
Arkansas
« ,,.. * (Northern,
California (Southern,
Colorado
Connecticut
Delaware
Dist. of Columbia...
Jlorlda
Georgia
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey




lto

s

595
&
58
161
161
3*
1.532
323

1U6
76
kXJ
1,021
635
3
H23
50

•
8
73
975

6U
19
37
180
225
87
13
5*
70
67
19

too

s
59

175
250
125
*3
139
26
5*
8
13
231

Savings "bonds
Savings
(at issue price) note8 and
Series Series marketable
P and G securities
2
UO
5
11
2
20
Ik
3
111
1)8
21
78
12k
23
k
21
22
8
27
2
10
Ik
35
27
37
6
20
in
1
6
12
HO
166
19»t
12
75
*3
16
55
72

1

1

m
28
Ik
39

2
?
3*

32

£
62
2U
68
16
3!
8
101

3
7
19
16
11
3
15

a
8

95
63
85

5?
16
57
8

1

Sales to corporations and other Investors
(Classified by investor classes)

Total

76
19
27
311
371
9
536
ko
87
91
95
15
.133
232
181
66
92
87
5
276

i

8U6
38;
271
31
283

Corpora- Building
Insurtions
and loan Dealers State and
local
ance Savings and
and
and savings
banks associa- and loan brokers governcomments
panies
tions 1/ associations
10
2
57
2
1
2
•
68
17 ,
11
19
119
31
6
155
15
101
1
2
9
9
U
10
56
20
6
k
8
70
1
2
m
12
28
95
3*
882
88
3
168
20
39
3
83
91
k
6
16
1
2
79
2
20
*
3
25
39
23
31
111
12
MO
180
257
258
23
21
18
182
25
26
1
1
3
221
9

Zk
79

1
60
2
3
7U5
110
20
{Continued on following page)

no

3
19

17
Ul
5
12
175

1
*

2
9

2
10
1
1
72

FINAL REPORT
S a l e s of S e c u r i t i e s i n the S i x t h War Loan, by S t a t e s and by Classes of Investors (Cont'd)

(In millions of dollars)
Sales to individuals, partnerships,
and personal trust accounts
(Classified by securities)
State

Total
sales
Total
21

New Mexico
Hew Tork
North Carolina.
North Dakota...
Ohio

2kS
hi
1.050

95
28
302

Oklahoma
Oregon
Pennsylvania...
Rhode Island...
South Carolina.

13s
157
1,299
Iks
79

7

South Dakota.
Tennessee.•..
Texas
Utah...
Vermont
Virginia
Washington....
Vest Virginia.
Wisconsin
Wyoming
Alaska
Canal Zone
Hawaii
Puerto Rico....
Virgin Islands.
Unallocated.
Total sales*

6,673

11
1,010

&

s
zk

220

Savings "bonds
Savings
(at issue price) .notes and
Series Series marketable
7 and G securities
1
7
335
U2

20
167

II

20**
16
21

3

1

7*
272
23
8

126
ik

387
IS

99
106
68
125
9

5
52
65
23
66
6

3
2
31
33
21,621

2
2
X6
5

1
73
6
3
27

3
597
*7
5
108

k

3

31
17
179
10
XI

2
5
19
X
1

7
33
127
8
2

£3

1.357

78

2, 1
76
11

X

36

5
876

l
108
50

XX9
*

19
5

23
Ul6
320
3*
32

X
26
U5
X
1+

2
17

X9
9

10

2,1+92

15.739

1

239
13
2

X

kk6

6U

26
25

522

figures are rounded and do not necessariXy add to t o t a l s .
Less than $9)0.000.
IncXudes federal agencies and TederaX trust funds.




12

9

Office of the Secretary of the Treasury, Division of Research and S t a t i s t i c s .
Note:
*
1/

Corpora- Building
Insurtions
and loan Dealers State and
ance Savings and
local
and savings
and
combanks associa- and loan brokers governpanies
ments
tions 1/ associations

529
35
32
11
107
223
19
8
85
92
65
13S
5

2
9
18

3
153
51
5
97

I5
69

7

XO

2

6

5
9
2

XX

i
8
3

3

96

22
X
8
X

16

20
25

-18
2,868

XO
5.66U
15*
,19
7*8

1
2

3

5.882

Total

229
76
26X
9

2
1
ik

-Ik

Sale* to corporations and other Investors
(Classified by investor classes)

38
16
1

CONFIDENTIAL

3,196

3x7

1.299

January 6, 19*5-