Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1898-07-28
THENEW BONDTSSUE.
The First Shipment Of War Bono
Was Made Monday
THREE HUNDRED THOUSAND NAMES.
These, with The Addresses, Including
street Numbers, Elc., VIII i.nve
to be written Zen Times
An Enormous Task.

Washington, July 2G.-'rhe follow
| ing statement concerning the new
bond issue has neen made ny the
treasury department:
"The first shipment OF the new war
bonds was made Monday. 1t consist
ed Of 1,OUO bonds OF $50 each, and
1000 bonds Of $50 each.
"The public mind Il poorly prepar-
ed TO comprehend the enormous Ia
Dor and multitudlnous delays con-
nected with mis- great popular loan.
In the first place, after the rejection
and return of thousands of subscrip-
tons to which ~ allotment could be
made, there remain about 100000 per-
sons to whom bonds will be allotted
and forwarded IN due course by ex-
press. II Is not Il question only OF
300, 900 names, The names, including
every state, county, town and street
number Of each subscriber must be
transcribed and rewritten In various
ways at least ten times, This 10 equlv-
| alent to entering once, thus fully ex-
tended, 100000 nr more names. The
mere clerical work is, however, but o
part Of the problem; the collection OF
checks and drafts received as paw
ment for bonds, the computation Of
interest, preparation of checks in set
Element for same, the engraving and
printing of ten kinds of denomlna-
lions of bonds, the accurate dispose
ton Of these in envelopes properly
| addressed; all these are part Of
the problem tnat must be solved
without error or omission.
zone simple fact will impress the
mind with the magnitude OF the oper-
alton. Each envelope must be sealed
with three seals, which means that
900, 1000 seals in wax must be imprint
ed to outgoing bonds.
Another important feature is the
limitation in the ability of the ex-
press agency to receive, forward ana
deliver the bonds after they are COM
mitted to their care for this purpose.
This limitation is estimated by the
express company at 5000 items per
day. Possibly, il this limitation OF
ability did not exist, II is n naturally
prudent limit, since, on an average
of only $500 in each envelope, the ex-
press company would receive, as H.
duciary agents, $2,500,000 of the Sc
curties per day, and ID 1t required
an average of three days to make de-
liverles, there would be a continuous
trust OF $75O0,000, as large an amount
perhaps as the responsibility of the
express company would justify.
"The facts thus cited show that,
while subscribers in the sums of $4,-
500 or less may rest secure in the GER
tainty that the bonds will come To
them all in due time, they must pa
tiently wait the operation of the gov
ernment machinery.
at is understood that deliveries on
the subscriptions of $500 and less, for
which the money has been all re-
ceived, will be made before the larger
subscriptions are attended to. OF
these small subscriptions there are
100000 in number, and it is estimated
that forty days will be required for
their delivery. From this it will APP
pear that subscribers in amounts
larger than $500 will not begin to re-
ceive their bonds until after Septem-
Der 1, From that date on, the bonds
will be put into the hands of the
larger subscribers quite rapidly,
since, numerically speaking, they ag-
gregate less than one-third of the
number Of small subscribers. In the
meantime, the larger subscribers will
be officially notified by the treasury
department when and how payments
in addition to the 2 per cent deposit
will be required, and before remit
ting funds they are requested to
await such notice. Much confusion
will thereby be avoided"