The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1898-07-15
BILLION TOO MUCH.
War Loan Bonds Oversubscribed Six
Times,

Washington, July 14.-The Subscriptions
to the new per cent war loan of $500,
200 which closed at o'clock this af-
ternoon, including the offers made by
syndicates, will amount to 81 200, 900, 900
or six times the amount of the issue.
The subscriptions represented by checks
or other forms of payment, it is estimat-
ed, will aggregate about S759, 1000, GOO or
8 3-4 times the amount of the issue. 1t
is thought at the treasury department
that no individual subscriptions as high
as $4,000 will receive an allotment OF
bonds. During the month, the depart
ment has received about 250,000 subscrip-
tions and nearly the last one opened was
from New York bank for $780, 900, 900,
enclosing check for So, 600, 900.
Assistant Secretary Vauderlip at &c
O'Clock tonight announced that the books
had been closed ''upon the most success
full loan ever foated by the government. I"
He said: cit Is impossible to give final
figures at this hour. The department re-
CO we'd today just under $4,000 letters and
lions must be put through detailed
operation before the total can be arrived
at and the exact line at which allotments
will be made, announced.
"My estimates at thisi hour is that it
| will be around $1,000, that is, to all appli-
cants for smaller amount than that
figure will be allotted in full, while all
ceive nothing. At this hour there has
actually been listed sS4 300, 900 of the $500
and smaller subscriptions and the
amount now on the tables will carry that
probably just above 500, 100000. The
| amount and totalled in the subscriptions
larger than $500, is at this hour $780,
| 6l0, $40, and I estimate it will reach S735,
| 100000. Thus the total subscription, in
Guiding the 100000 900 of syndicate bids
| will reach 81, 525, 100000. We have held
OUT cases where there were doubts as to
| the bona fide character OF subscriptions
amounting in the subscriptions for S5OC
and under alone, to $40, 494, 740. The total
| number of subscriptions for $500 and I'M
der that has now passed the stampers as
| 1928, 600 and that figures will be somewhat
| increased. The total of larger subscrip-
| tions numbered is 65,S00 and there are
| still several thousands of those larger SUBJ
| scriptions to be listed.
"There are at this hour, out of nearly
| 100000 subscriptions received, only Il
| cases held up because of some 1rregulari-
| ty.
| the department was prepared to return
the checks of unsuccessful bidders in
those cases where the assistant secretary
was already satisfied no allotment could
DO made. This course was taken in JUS
tice to depositors in order that the
amounts held in banks subject to oerti-
fed checks might be released at the earl
lest possible moment. Chsoks are being
rapidly drawn to cover the pay
ment of interest accrued on deposits OF
successful bidders. These will vary in
amount according to the period between
the time these deposits were received in
the treasury and August /, when the
bonds carry their own interest The
checks will not be mailed to successful
subscribers until the bonds are delivered,
when they will accompany the bonds.