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City Spends Dimes In Aid Of Defense

City Spends Dimes In Aid Of Defense image
Parent Issue
Day
6
Month
August
Year
1941
Copyright
Copyright Protected
Rights Held By
Donated by the Ann Arbor News. © The Ann Arbor News.
OCR Text

City Spends Dimes In Aid Of Defense

“Save for Defense” day was in full swing in Ann Arbor today as 30 attractive young women wearing red, white and blue hair ribbons handed small cards to everyone they met on the city’s downtown streets and told them about defense savings stamps.

The cards were part of a shipment of 5,000 which are being distributed today. Each one has spaces for 25 defense savings stamps in the 10-cent denomination. As the cards were handed out, recipients were asked to purchase at least one of the dime stamps as a starter.

Tables Operated

Another staff of 30 more girls were on duty this afternoon, relieving the morning group. In addition to walking about the streets distributing the stamp-saving cards, they are operating information tables.

These are located at N. University Ave. and State St., the Arcade on State St., Washington and Main Sts., Main and Huron Sts., the Michigan League, the Union, and the University hospital. Here girls on duty explained to Ann Arborites how they may save for the future and aid national defense by purchasing stamps for as little as 10 cents, which may be accumulated and traded for larger denominations, which in turn may be exchanged for defense savings bonds.

Shoppers in Ann Arbor not only became acquainted with defense savings stamps on the streets this morning, but in stores as well, for 50 merchants placed the dime stamps on sale today, and many suggested that customers take one or more of them in change.

Bond sales were also being pushed, as officers of the campaign sought to reach a quota of $300,000 worth of bonds sold during the day. A quota of $500 was set for the stamp sales.

Defense savings stamps in the larger denominations of 25 cents, 50 cents, $1, and $5 are on sale today at the two branches of the Ann Arbor Savings and Commercial bank, the State Savings bank, the Ann Arbor Trust Co., the Ann Arbor Federal Savings and Loan Association and the post office.

These same institutions also have available defense savings bonds in denominations from $18.75 to $50,000.

Bonds may be purchased by exchanging stamps of equal value. Thus, when a dime stamp card is full, it may be traded for 10 of the 25-cent stamps, and these may be pasted in an album given the buyer when the stamps are purchased.

May Be Exchanged

When the amount of stamps reaches $18.75, they may be exchanged for a bond which in 10 years will be worth $25. Defense savings bonds may be converted into cash at any time after 60 days from the date of purchase if the buyer needs the money.

John R. Meadows, assistant cashier of the Ann Arbor Savings and Commercial bank, is general chairman of “Save for Defense” day, and the girls with the patriotic hair ribbons who are distributing cards are in charge of a committee headed by Mrs. Charles Noble.

An intensive promotional campaign, directed by Reardon Peirsol, executive chairman of the Ann Arbor Defense Savings committee, has preceded “Save for Defense” day. A sign erected on the courthouse lawn in connection with this promotion will be completed tomorrow and will remain there after today’s drive to continue advertising defense savings bonds.