The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-07-26
A VAST AMOUNT OF WORK
First Shipment of the New War
Bonds Made.
MEANS ENORMOUS LABOR
Three Million Names to Be Written and
Nine Hundred Thousand Seals
Attached = Many Vexa-
tious Delays.

Washington. July 25.-The following
statement concerning the new hond is
sue was made at the treasury depart
ment to-day: THE first shipment of the
new war bonds was made to-day. They
consisted of 1000 bonds of $40 Zach and
1.00o onds of $500 each. The public
mind is poorly prepared to comprehend
the enormous labor and multitudinous
delays connected with this great popular
loan. In the first place. after The rejec-
ton and return of thousands Of sub
scriptions to which no allotment could
be made, there remain about 300, 900 per-
sons to whom bonds Will be allotted and
forwarded in due course by express. 1t
is not a question only of 0 1000 names.
The name, including state, county. town
and street number of each subscriber
must be transcribed and rewritten in
various ways at least 10 times. This is
equivalent to entering once, thus fully
extended. 5000. 900 or more names. The
mere clerical work, however, is but a
part of the problem; the collection of
checks and drafts received as payment
for bonds, the computation of interest,
preparation of checks in settlement for
same, the engraving and printing of 10
kinds or denominations of bonds, the
accurate disposition of these in envel-
opes properly addressed-all these are
a part Of the problem that must be
solved without error or omission. One
simple fact will impress the mind with
the magnitude of the operation. Each
envelope must be sealed with three
seals, which means that 900, 900 seals in
wax must be imprinted on outgoing
bonds.
Another important feature is the
limitation in the ability of the express
| agency TO receive, W and deliver
the bonds after they are committed to
their care for this purpose. This limi-
tation is estimated by the express COM
pany at 5000 items per day. Possibly
if this Limitation of liability does ex-
list, il is a naturally prudent limit. since
on an average of only $500 in each en-
velope the express company would re-
ceive as agents 81, 800, 900 of the secur-
tiles per day, and If 1t required an av-
erage of three days to make deliveries
there would be a continuous trust of
81, 500, 900, as large al amount perhaps
as the responsibility of the express
company would justify. The facts thus
cited show that, while subscribers in
the sums of $500 OF less may rest Sc
cure in the certainty that the bonds
Will COilt u lnGlii Ill All uoc iiiit Nit
must patiently await the operation OF
the government machinery. 1t IL TO be
understood that deliveries on the sub
scriptions of $500 and less for which
the money has already been received
will be made before the larger sub
scriptions ar attende to. OF these
small subscriptions there are $4,000 IN
number n it is estimated that 40
days will be required for their delivery.
From this il will appear that subscrib-
ers in amount larger than $500 will not
begin to receive their bonds until after
Sept. l. From that date on the bonds
will be put in the hands of the larger
subscribers quite rapidly, since numer-
ically speaking they aggregate less
than one-third of the number of small
subscribers. In the meantime the larS-
err subscribers will be officially notified
by the treasury department when and
how payments in addition to the 2 per
cent deposit will be required N be-
fore RENTING funds they are required
to await such notice. Much confusion
will thereby be avoided"