New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-06-16
THE WAR LOAN A SUCCESS.
Continued from First PnEc'

neai. strongly to them. Then, too. 1t snouio ho'
be forgotten that there Is patriouc s'ue
the matter. Many people are buying the oonu'
~ an earnest Of their intention 10 support 'ne
Government to the best OF their nnahc'"' "',,
Ity In this way the spirit of the issue VIII
be best maintained
POSITION OF THE SAYINGS BANhs'
While the savings-bank depositors are not YET
n,uch IN evidence as subscribers 10 the ne"
loan IL may be because they desire not to sacri-
flee the interest which will be due on July l
upon their deposits. They Will have TWO "eeh'
after that time in which to pat IN 'he'r SUI"
scrJ tons and there Is no danger TO 'uei" III ."'
deay. for nobody believes that the Popo'a'
subscriptions" in sums OF 5000 or less WI" az
sorb the whole issue. Indeed the genera "i'
ion seems to hc that the subscriptionns n NJ nnn
class will not aggregate more IMAM F'u,s nther
leaving 100000 900 for the banks ana o.ne
large bidders Reports were again currsht ''.S
certain banking houses were iorW@fui's ,ow
Washington a large number az pius ioI a -
thousand dollars each, made IN the Hai.is ,,or
their employees individually. with me u'uei
standing that the bonds allotted tnese mn !e
should be turned over 10 'he.r piihC'p",o, -
feeling being that p single bd 10 the a, ,to,,,
these Individual subscriptions taken colIecune,s
would result IN failure to secure any ''i'I
ment at all 1t was rumored' too that 49,
known Insurance company had SEM Oh U.s.
name Of an agent If the company the "no.e
aggregating about - 100000 The present out
look is that the subscriptions q SJ.WlO ana uiI-
dor will absorb the whole OF the present lsSue'
and the total subscriptions may aggregate
81 900 900 900. The syndicate headed ny j. !
Morgan & Co.. az Is seen by us l"tier ina"e
public by Secretary Gage. was formed prlfha.
rlly for tho purpose OF assuring the secretary Oh
the absolute and unqualified success OF tne
issue ard with only the remote idea tnet tne
syndicate would secure any part or the pondS'
and 1t can be confidently said that the forina-
tIon CT the first syndicate ny tho central trust
Company, the National city Bank ana Nerniye
& Co. was inspired by the Same motive.
Many OF the banks besides sending to WASH
ington their own bids for large blocks ar the
stock are acting also for correspondents in all
parts OF the country whose Applications Tor
bonds they are forwarding 10 the Treasury De
partment. Some Of the bank presidents believe
that 81 600 bid Is the highest which VIII nave
any prospect Of acceptance. At any rate, the
banks and other institutions which are iOr-
warding bids Of 81 900 900 or more would seem
to have an exceedingly small chance OF secur-
Ing any OF the bonds, which they desire for de-
post against increased circulation. unless they
safeguard themselves by also sending large
number OF Individual small bids in the names
Of their employees and friends. as Secretary
Cages circular reads that allotments on sub
scrIptons for over $500. which Will not he made
until after July ii, viii then tee made In
verse,y according to the size Of the subscription,
the smallest subscription being first allotted.
then the next In size. and so on, preference
being given to individual subscripitions.