The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-07-15
Small Subscribers Will Take the
Entire Issue.
CORPORATIONS SHUT OUT
OVER A BILLION AND A QUAR-
TER SUBSCRIBED.
No Subscription For Over $4,000
Will Receive an Allotment-Sub-
scriptions For $500 and Under
Reach $4,000 In Number and
Soo,oOO,ooO In Amount.

Washington, July 1.-THE subscrip-
lions to the per cent war loan of
5000. O00. 600, which closed at O'Clock
this afternoon, including the offers
made by the syndicates, will amount
TO 81, 200. COCO or SIX timss the amount
of the issue. The subscriptions repre-
scented by checks or other forms of
payment il is estimated. Will sggre
gate 750.0o0.000 or three and three
/ quarters times the amount of the
issue.
Early this week Assistant Secretary
| Vanderlip. who has had immediate
supervision of the work in connection
with the loan, became convinced that
the subscriptions of individuals would
be far mere than sufficient 10 wholly
absorb the loan. and gave instructions
that checks representing ali subscrlp-
lions OF corporations be prepared and
returned 10 the senders tonight. 1t IS
thought at the treasury department
that no individual subscriptions as high
as $4,000 will receive an allot-nent OF
bonds. During the month the depart
ment has received about 25o,00G sub
scripticns, and nearly the last one
opened was from 4 New York bank
for S100. 000, 900, enclosing a check for
100000.
1t was Secretary Cages intention to
make the payments on account Of the
bonds as easy TO the people as possible.
and all forms of payments were TO be
received. These included cash, checks,
drafts postoffice money orders, certih-
Gates of deposit and. during the last
day or two. the department has re-
celved money by telegraph. During
the entire month there has been an
average of $1,000 subscriptions re
ceived daily. and some days the num-
lafl9 &c
enormous mail ana to schedule the
subscriptions a force of over 800 clerks
has been constantly employed. 1t Will
probably be two or three days before it
is known just the size of the largest
subscriptions which can be accepted.
At 10 O'Clock tonight Assistant Secre-
tary Nanderlip said:
1t is. of course. impossible TO give final
figures at this hour. The department re-
ceived today Just under q. 600 letters and
yesterday 2i,3eO. This mass of applica-
tons must be put through the detailed
operation before a total can be arrived a
and the exact lire at which all OF them
Will be made announced. At this hour it
is expected 1t will be around $4,000. that
is TO say, all applications for smaller
amount than that figure will be allotted
in full, while applications for larger
amounts viii receive nothing. At this
hour there has actually been listed SEA
100000 of the $500 and smaller subScriD-
tions and the amount now on the tables
The amount scheduled and tOtalled in the
subscriptions larger than $500 is at this
hour S699, 6l0.Si0 and l estimate it viii
reach S7t5 0t0.0lO Thus the total subscrip-
ton. including the s500001 coo of syndicate
bids. will reach 8. 325 600 coo. We have held
out cases where there were doubts as to
the bona fde character of the subsc-ip-
tions amounting, in the subscriptions for
$500 and under alone, to SO, 1910 The
total number of subscriptions for $3.50
and under thar has now passed the
stampers IS 22S 900 and that figure will be
somewhat further increased The total
OF larger subscriptions numbered is g. $40
ana rhere are still several thousand of
these large. subscriptions to be listed
Checks are being drawn rapidly TO
cover the payment of interest accrued on
deposits Of successful bidders. These will
vary in amount according to the period
between the time these deposits were re-
ceived into the treasury and Aug l. when
the bonds Will carry their own interest.
The checks will not be mailed to success
fui Subscribers until the bonds are de-
livered, when they will accompany the
bonds.