Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1898-07-21
BONDS in BIG DEMAND.
Total subscriptions offered for the War
Loan Amounted to $1,000, 100000
orSIx Times the Total Issue.


Washington, July 15.-The subscrip-
tions to the three per cent. war loan
of 5000, 900, 600, which closed at three
o'clock yesterday afternoon, including
the offers made by syndicates, will
amount to ST., 200, 900, 900, or six times
the amount of the issue. 1t is thought
at the treasury department that no in
individual subscriptions as high as
$4,000 will receive an allotment of
bonds, The whole issue of $500, 900, 900
will 60 TO small, individual bidders.
Assistant Secretary VANDERBILT, who
for 90 days has managed the work Of
placing the bonds of the new war loan,
announced last night that the books
had been closed upon the most sue
cessful loan ever Aoated by the gov"
ernment" In the experience of the
Oldest clerks in the treasury depart
ment nothing of the kind had ever
equaled the success which has attended
the present issue of bonds.
1t is, Of course, impossible to give final
figures Mt this hour The department received
yesterday just UNDER 900 letters and Wednes-
day "a 300 This mass OF applications must be
put through the detailed operation before n
total can be arrived at and the exact line at
which allotments will be made announced
My estimate ut this hour is that 1t will be
around $4,000 That Is to say, all appli-
cations for a smaller amount than that
figure will be allotted in full while
all applications for larger amounts will receive
nothing At this hour there has actually been
listed f8i, 100000 Of the $500 and smaller sub
scriptions and the amount now on the tables
will carry that probably just above 500 0OO,O 600.
The amount sheduled and totaled In the sub
Scriptions larger than 1900 is at this hour $780,
6l0 $40, and estimate 1t will reach S7S5,0O0 000
Thus the total subscription, including the $780,
900 Of syndicate bids will reach 1895, O0O
900 We have held out cases where there were
doubts as to the bona fde character Of the
subscriptions, amounting In the subscriptions
for $500 and under alone, to $40, 494,74O The
total number OF subscriptions for $500 and UNI
der that has now passed the stampers is 22S, 900
and that figure will be somewhat further in
creased. The total OF larger subscriptions
numbered is $500 and there are still several
thousand Of thes0 larger subscriptions to be
listed In the last 10 days the depart
mcnS received 255SOO subscriptions, an av-
erage OF 1899 n day. The last letter was
opened within two hours after the subscription
closed We have had, at the close OF the work,
400 employees working from nine in the morning
until 1890 at night The fact that there are at
this hour, out of nearly SO9,8OO subscriptions
received. only n cases held up because Of some
irregularity, such as misplaced remittance or
informality of subscription, is some indication
Of the thoroughness of the work
Checks are being drawn to cover
the payment of interest accrued on
deposits of successful bidders. These
will vary in amount according to the
period between the time these deposits
were received into the treasury and
August l, when the bonds will carry
their own interest. The checks will
be mailed to successful subscribers
until the bonds are delivered, when
they will accompany the bonds.