The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-07-26
ISSUING WAR BONDS
There Are 100000 to Whom
to Ship Them.
I'M IMMENSE LABOR INVOLVED
Is Shown in Some Entertain
ing Statistics.

Washington. July s.-The following
statement concerning the new bond issue
was made at me treasury department
today
The first shipment OF the new war bonds
was made today. They consisted Of one
thousand bonds of $50 each and one thou
sand bonds Of $500 each Tue public mind
is poorly prepared to comprehend the en-
orrnous labor and muldtudious delays con-
nected with this great popular laon. In
the first place. after the rejection and re-
turn OF thousands subscriptions TO which
no allotment could be made there remain
about 300 900 persons to whom bonds Will
be allotted and forwarded in due course
by express, 1t is not question only of
300, o00 names. The name. including state
county. town and street number of each
subscriber, must be transcribed and re-
written in various ways at least ten times
This is equivalent Ii entering once. thus
extended 1900, 900 or more times.
The mere clerical work, is however, but
apart OF the problem; the collection OF
checkc ana drafts as payments for bonds,
the computation of interest, preparation
of checks in settlement OF same. the en-
craving and printing of ten kinds or de-
moinations OF bonds, the accurate dispo-
sition OF these in envelopes properly ad-
dressed; all these are part Of the prob
lem that must be solved without error
or omission.
One simple fact will impress the mind
with the magnitude Of the operation. Each
envelope muss be sealed with three seals,
which means that $4,000 seals in wax must
beimprinted to outgoing bonds.
Another important feature is the MrYli-
tation in the ability of the express agency
to receive, forward and deliver the bonds
after the are committed to their care for
this purpose. This limitation is estimated
by the express company at 5000 items per
day. Possibly Il this limitation of abb
lily did not exists a naturally prudent
limit since, on an average Of only $500 in
each envelope. the express company would
receive os fiduciary agents. 81, 500. 900 of
the securities per day, and if il required
an average of three days to make deli
veries, there would be a continuous trust
of 1900, 000-as large an amout, perhaps,
as the responsibility of the express com
pany would justify. The facts thus cited
show that, while subscribers in the sums
of 400 or less may rest secure in the
certinty that the bonds will come to them
all in due time they must patiently wait
the operation of the government mach
inery. 1t is understood that delivery on
the subscriptions OF $500 and less, for
which the money has beer all received
will be made before the largr subscrip-
tions ar attended to. OF these small sub
scrtptions there are 23O, 900 IN number, and
it is estimated that 40 days will be re-
quired for their delivery. From this it
will appear that subscribers in amounts
larger than $500 will not begin to receive
their bonds until after September l. From
that date on the bonds will be put in the
hands Of the larger subscribers quite rap
idly, since numerically speaking, they
aggregate less than one-third of the num-
Der Of small subscribers. In tQhe mean
time the larger subscribers will beofh-
cially notified b ythe treasury DEPART
ment when and how payments in addi-
ton to the per cent. deposit will be re-
uulred and before RENTING funds they are
required TO await such notices. Mucn
confusion will thereby be avoided