The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-07-15
POPULARITY OF WAR LOAN
AMOUNT CALLED FOR SUB
SCRIBED FOR SIX TIMES
Offers for the Bonds Aggregate
$I,2oO.OOO-Rig bidders Will
Have Their Checks Returned. as
Subscribers In Sums of Less Than
Ten Thousand Dollars More Than
Absorb the %2OO,OOO,OOO.

Subscribers In Sums of Less Than
Ten Thousand Dollars More Than
Absorb the $2OO,OOO,OOO.
WASHINGTON, July 1.-THE sub
scriptions to the 3 per cent war loan
of $2o0 O00, 600, which closed at o'clock
this afternoon, will amount to $l,2Oo,-
600 900, or six times the amount OF the
issue The subscriptions represented
by checks or other forms of payment,
will aggregate about $75O,OOO,000, or
three and three-quarters times the
amount of the issue.
Early this week Assistant Secretary
Nanderlip, who has had immediate SUI
pervision of the work in connection
with the loan became convinced that
the subscriptions of individuals would
he far more than sufficient to wholly
absorb the loan, and gave instructions
that checks representing all subscrip-
tions of corporations be prepared and
returned to the senders tonight. 1t
is thought that no individual subscrip-
items as high as $4,000 VIII receive an
allotment of bonds
During the month the department has
received about 900 subscriptions
and nearly the last one opened was
from New York bank for 500 100000
1t was Secretary Cages intention to
bonds as easy to the people as possible,
and all forms of payment were to be
received. These included cash, checks,
bank drafts, postoffice money orders,
express orders, certificates of deposit,
and, during the last day or two, the
department has received money by
telegraph.
During the entire month there has
been an average of $4,000 subscriptions
received daily, and some days the num-
Der has exceeded 10000 To handle
this enormous mail and to schedule
the subscriptions, a force of over 300
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 ac-
cepted,
BOOKS CLOSED.
At 10 o'clock tonight Assistant Sec
retary Vanderlip says:
1T is, of course. impossible to give
final figures at this hour The depart
ment received today just undar $500
letters, and yesterday $4,000. Thou
sands of applications must be put
through the detail operation before a
total can be arrived at and the exact
line at which allotmentS will be made
announced. My estimate at this hour is
that it will be around $1,000, that is to
say that all applications fer a smaller
an cunt than that viii be al 'oted in full,
wnlle all applications for larger
amounts will receive nothing.
AT this hour there has actually been
listed $S4,S00. 600 Of the $500 and smaller
subscriptions. and the amount now on
the tables will carry that probably just
above $4,000, 600. The amount sched-
uled and tabled in the subscriptions
larger than $500 is at this hour $780,
0,S40, and | estimate il will reach
$755,OOOOOO. Thus the total subscrip-
ton, including the $780, 900 000 of syndi-
cate bids, will reach $1,325, 600.
I'VE have held out cases where there
were doubts as to the bona fide charac-
ter of the subscriptions amounting in
the subscriptions for $500, and under
alone to $40 494, 740. The total number
OF subscriptions for $500 and under that
has Now passed the Stampers is 22S,000
and that figure will be somewhat fur
ther increased. The total Of larger sub
scriptions numbered is IS 800, and there
are still several thousand of these
larger subscriptions to be listed.
IN the last nineteen days the re-
partment received 255, 800 subscriptions,
an average of 1892 a day. The last let
ter was opened within two hours after
the subscription closed. We have had
at the close of the work 400 of the en-
pioyes working from in the forenoon
until 10:30 at nigh The fact that there
are at this hour out Of nearly 100000
subscriptions received ony seventy-oie
cases held up because of some irregu-
larity, such as a misplaced remittance,
or informality, is some indication Of the
thoroughness of the work"