The times., 1898-07-15

The S20l 000 popular war loan closed
at 3 o'clock yesterday afternoon. The in
dications are that il has reached a de-
gree Of success far beyond that anticipa-
ted by the promoters Of the plan.
At 1880 o'clock last night Assistant Sec
retary Of the Treasury Vanderlip made
the following statement:
1T is, Of course, impossible TO give
final figures at this hour. The department
received today. just under 25.oO0 letters,
and yesterday "a, SEQ This mass of appli-
cations must be put through the detailed
operation before a total can be arrived
at. and strike exactly the line at which
allotments viii be made. At this hour
there have actually been listed, SSi, 500 600
Of the $500 and smaller subscriptions, and
the amount now on the tables will carry
that probably just above S9Q,OGo,000. The
amount scheduled and totaled in the sub
scriptions larger than S5oo is, al this hour,
$500 6l0. $40 and I estimate il viii reach
s7S5 Ooo, 600 Thus the total subscription,
including the $50. .Oo0, 900 Of syndicate bids,
VIII reach 81, ,S25. .0oO,e00
we have held out cases where there
were doubts as to the bona iide sub
scriptions for S500 and under, alone, to
SIS. 1870. The total number OF subscrip-
tions for $500 and under, now passed the
stampers, is S22S. COO, and that figure will
be somewhat further increased. The total
Of larger subscriptions, numbered. is Co.
500, and there are still several thousand
OF these TO be listed. In the last nine
teen days, The department received 225.-
sos, an average Of S13.262 day. The last
letter was opened within TWO hours after
the subscription closed.
we have had, at the close OF the work,
900 employees working from in the
morning until 1890 al night The
fact that there are, al this hour only
seventy-oue cases held up because of
some irregularity. such as a misplaced
remittance or informality Of subscription.
out Of nearly $4,000 subscriptions re-
ceiyed, Is some Indication Of the thor
Cughness Of the work
In order 10 give applicants for the bonds
as much time as possible extraordinary
pOst0fice facilities We're secured. by an
agreement with Postmaster Willet.
whereby all letters containing applica-
tons Were assorted as promptly as posi-
ble and delivered al the new postoffice
building on the avenue promptly at 3
o'clock. More than 25.Gc0 letters were re-
ceived yesterday. which Is regarded as a
-NA-AsAA GAHAL+e EDDA S-4ONAliE-
The aggregate amount Of money repre-
scented by all the applications, including
those Of the various wealthy syndicates
which subscribed is more than a billion
and quarter Of dollars.
There were many instances IN which
banks and corporations had attempted
20 secure large blocks of the bonds by
placing applications under various
names. The original intention was to
Ia . lr1 f-.lv
ever cases Of this kind were detected
they were discarded entirely Chief
Nilkic was called upon 10 furnish men
Tor the investigation OF suspicious cases.
Where bonds were applied for BIZ banks
and other institutions for individuals the
officials Of the concerns were called uD-
on 10 state under oath that they had
no direct or indirect interest in the bonds
thus applied for When even i was
learned that bonds were sought in this
manner by banks their applications
were returned
The greatest feature, however. Of the
loan is rs apparent magnificent success.
Therefore, IL has been argued by bank
ers and syndicates that a popular loan
would not prove a success. The loan is
not only subscribed for once, but many
times over.
The popular subscriptions have been so
numerous that there is little probability
of any single subscription being accept
ed for more than sl0.e0G. In order to
suit the convenience of the subscribers.
arrangements were made by Secretary
Gage whereby all forms Of payment were
received, including telegraphic money or
ders
A portion Of the large force Of clerks
employed on the work has been engaged
In computing the accrued interest on de-
posts and when the bonds are delivered
on August ]. the envelopes containing
them viii also contain 4 check for the
interest, which viii be payable on that