New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-06-17
DEMAND STILL GROWING.
THE POPULAR WAR LOAN AN IMPRESS
SIVE OBJECT LESSON

srsrANr TREASURER JORDAN IS UNABLE TO
GIVE OUT FIGURES. But EVEN MoRE
SUBSCRIPTIONS WERE RECEIVED
YESTERDAY AT THE srB-
TREASURY THAN on
WEDNESDAY.
The Indications that the popular loan will be
4 magnificent success and impressive object
lesson to the governments Of the world are so
clear that 10 who runs may read. Indeed. TO
use a familiar expression. it is now only
question OF the size OF the majority. since 1t
has been dem lnstrated that the aggregate sub
scrlptions in this city alone will be well over
double the amount Of the present issue II hot
more than three times the S20OOOOOOo asked
for: not u take into account the applications
which are being and will he received from the
rest OF the country-and this Is a big country
ard a PROSPEROUS one and patriotic vthal
With each day that the new war loan Is be-
fore the public the popular demand for the
smaller bonds apparently increases In volume
Banks and trust companies and private pahh-
ers throughout the financial district are display
Ing In their office windows pacards announcing
their willingness TO receive these cash supsciip
tons for sums less than 5000; and most Oh
small bidders are awaiting themselves OF 'hese
mediums for the forwarding Of their sisheu ap-
plcations and their cash subscriptions 10 wash
ington. The aggregate amount re'eNeu "o'"
this source from day to day by the Treasury
Department; can only be guessed at nut IL ihus'
be very large.
At the Sub-Treasury yesterday the nuhpel Vi
subscriptions received was materially larger Una"
on Wednesday, when 541 hllcd-out applications
ACCOMPANIED by S242 $50 in cash. were accepted
by Deputy Assistant Treasurer Muh"ha"' ne
total sum received In the course OF '"e "'
business could not be ascertained. TOT Hss's'a''
Treasurer Jordan yesterday. acting "hoe' III
structions from the Department AT "as""S"'
was obliged to refuse to give OUT Inc "b
But the crowd which had Assembled oeio'e VIC
office opened for the day was notioeaoiy larger
than on Wednesday morning. and the TWO INES.
one Of intending subscribers cash In hand ana
the other of applicants for blanks TO be niied
o,,t later Increased so rapidly as 10 Impede the
ac,,lar business OF the Sub-Treasury: ana IL
,,ae late IN the evening before MI zimmerman
and his clerical force which had been increased
IN Numbers from Wednesday. were able 10 cream
IN comn,etelv the business OF the day and start
for home.
NOTICE FROM Mr.. JORDAN
=, o-do- % gave time for the bidders in the
live Assistant Treasurer Jordan In the morn
inc caused 70 he placed on the bulletin-boarus IN
the main corridor the following notice OF "h''
many persons took advantage
,,a.s ,,sbing 10 avoid delay deposl, -
g., ASH in an envelope inGorsng upon ~, !" rarna
handwriting Of the appIe~nbS' recslnt tomorrow
and address, anu o"'"''' Wv
morning. - -,
n, course the permission applied 70 bidders TOT
any smaller amounts also. aithous" ''''
was mentioned. ..,
There Is practically no doubt tina mary nna"-
ola, and other institutions, realizing 'ha' inc
prospect OF getting any bonds on he''E Jus "
homeless. are securing Themselves 10y enc" 'u,
ting in many bids for comparatively s''"'
amounts through their employees ana ''e""''
some Of the banks are inclined 20 o'S'ou'
nance this method. holding that II con'raVenes
Tho s,,r,t 81 Secretary Cages circular, IN that
such bids are not really popular pius' M"
they declare that they have so"sh' |" "'''"
cartain large customers from following 'his pan
o,ber banks IL is known, regard the inc'"'' ."
royfectly legitimate, and will through 'he'F ~
rectors and friends pu; In series oi o''s "pV'
,,h,ch auo.ments will probably be made. while
=, the same time they VIII make pius " "V''
81 600 OuO upward. with no prospect OF 'ne' AZ
ceptance. But the ml"n-ooiar Nus ar "o''
,ha Lose hona 0de because from all present signs
sJa 10 m
he NJ avail in obtaining bonds for the subscrio-
ers Each OF these bids Is accompanied oy
ner cent cash deposit as a guarantee OF good
,at,h. ard the banks and institutions and nrns
t,r,,or1i,c these great bids stand ready TO max;
cooa their proposals in cash, just as do the TWO
coiossal svndicates. II by any chance the HoVeTh'
r,ent should desire 20 call upon them.
rbore was talk Yesterday Of the contemplated
formation Of a third syndicate to be composed
of the New-York Life Insurance Company the
Equitable Life Assurance Society the Mer,
camille Trust Company and certain .Sa s"'nn
banks and foreign banking HOUSES h'." ,s,.
sorrc Of them have already subscribed lor Iarse
amounts Of the bonds for instance the New
York Life. whose subscription ~ tor siV,V'ov"
II was reported on good authority, aIso. ,hht
sonc OF The members o. the syndicate hcddeh py
7 7, ,i,-ran & Co would make In addition lndl-
ydual bids for large afnounts some Oh thc
a afternoon newspapers yesterday printed "pic'
nuruortlnr to show thar the aggregate subscrip-
lions thus far announced ana in sight IN this
CITY are about SGJO.WD,WD, THESE taDles IN
cludc the 500 OOOOOO to he subscribed by the
thIrJ syndicate; but that time s rather pre-
mature az the syndicate is not yet completed
Tb4v would seem 10 on the other side In
emitting any estimates OF the small suDscrlp-
lions received by The banks and bankers when
in m. Aggregate must already amount 10 sew
oral million dollars and they are by no means
comprehensive Of all the bids which banks ana
trust companies here have decided to put H.
many OF which subscriptions nave Deen given 10
a Tribune reporter in confidence.
WHAT SOME BANKERS SAY.
Some bankers said yesterday that the National
hanks as a rule were not anxious to obtain espe-
cially large blocks Of bonds for deposit against
Increased circulation, and that they could OBJ
tain as much as they would mead at lO3, after
the allotments should have been made. although
other bond experts were OF opinion judging the
new Issue by the Government bond issues now
outstanding that the new 3 per cents would soon !
sell nj lOi or 100 Spectators are already Of !
fering 1Ol for them with no takers.
The Treasury Department has accepted the |
offer OF the adams Express Company to avail !
itself Of the services OF the companys agents In
.l.snr a The nnuNar lGan md