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Show LOAN SALES OFF TO FINE START ' 1 The first million dollars of Utah's $8,750,000 Security Loan sales objective was almost subscribed sub-scribed as the 10-week campaign which opened April 15 neared the quarter mark. Total sales reported by the Federal Reserve Bank' of San Francisco for the first two weeks of the drive were $822,458, or 9.4 percent of the state total. This was hailed by , Campaign Chairman Charles L. Smith as "a most encouraging start and evidence evi-dence that our county committees and banks are doing a good job that will show up even better in sales reports to come." He pointed out, however, that eight-tenths of the drive remains in which to subscribe nine-tenths of the quota. Mr. Smith called upon all citizens citi-zens on payrolls to save rather than spend the extra money that will be in their pay envelopes after May 1 as a result of the federal income tax reduction. "The amount of the combined income tax reduction for the entire state of Utah during , May and June' would come' close to putting us over the top in the Security Loan if it were invested in savings bonds," the Security Loan leader declared. Such collective thrift would be a further curb on inflation and would add greatly to the security of our people and state without reducing their take-home pay, he pointed out. Mr. Smith thanked the volunteer bond leaders in the 29 counties of Utah for consenting to reactivate their sales organizations for the Security Loan, the first organized campaign since the Victory Loan ended Dec. 8, 1945. Ray P. Dyreng, president of the Utah Bankers Association, in a formal letter to association mem-ers mem-ers urged every banker in Utah to "take a personal interest in making the Security Loan an outstanding out-standing success." He. commended the American Bankers Association suggestion that each bank voluntarily volun-tarily assume a bond sales goal of $5,000 each month for each $1,-000,000 $1,-000,000 of demand deposits and $2,500 additional each month for each $1,000,000 of time deposits. Every bank enclosed Security Loan messages in their April bank balance bal-ance statements. Civic and ( service clubs, the American Legion, the Lions, Ki-wanis Ki-wanis and Rotary clubs, and the Federation of Women's Clubs have pledged support of the Security Loan by scheduling of special events during the drive. |