Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-10-23
S2O,OOO,Ooo GOAL
FOR CITY IN SIGHT

FOR CITY IN SIGHT
Continued from First Page)
letters have been mailed To bankers in
the State and district. urging them to
greater cooperation. and 1t is expected
/. that daily reports will be made until
the close OF the campaign
"Aiembers of the central committee
Tor Virginia declared that unless banks
were Withholding reports OF subscrip-
lions entered, the State was falling
; Tar behind it's apportioned amount of
the bonds. Bankers are hopeful from
, the tone OF numerous letters received,
! that subscriptions are not being re-
| ported, and that when the final report
is made Virginia will have fulfilled
their expectations
In many sections of the State, how
ever. the activity has not been AS great
as was expected There Is CO.., slider
! able apathy among the farmers AMI I'm
the rural sections of Virginia and tho
Is district, which bankers declare - ex-
tremeiy encouraging. Farmers are en-
3oying an unprecedented prosperity.
; and they are expected to subscribe lib
orally TO the bonds. since they arc as
vitality affected by the war as any
other class.
COUNTRY BANKS FEAR
DECREASE IN DEPOSITS
.--Rromfnent banking men are inclined
SIP believe that the inactivity in the
eflral sections is largely responsible for
sIhe attitude taken by country banks
s4 Is known that many bankers in the
srural sections are fearful that with
theavy subscriptions to the Liberty loan
Ifheir deposits will be materially de-
seSeased. Emphatic denial Is made how
rEver. that such a condition would re-
sAtIlt.
tsSs In statement, Governor Seay, quot
strs from the report Of the COMPTROLLER
s s4t' the Currency, declared that from
equine 20 to September II deposits in
sthe national banks in Virginia in
spreased Sl4,ooo.ooo. while the increase
I'm State banks was s7.sol.1aS. This
s9eneral Increase OF s2I.s01.1s6 for all
Ethe banks in Virginia was made in the
.perfod during which the first issue Of
the Liberty loan was foated. For the
Santire country the increase during this
yperiod was s462. 100000
-ar These figures should remove all fear
eot any but temporary effect upon the
sdaposits in tho banks" said Mr. Seay
rsrWhle statistics for all the Sta..s of
Ithss district are not yet available, the
hfasults OF the first Liberty loan upon
,sthe deposits OF Virginia banks are
rdoubtless relatively the same with re-
h6pect to the deposits Of other States
Fot the district.
PRESERVE HANK READY
sss TO DISCOUNT PAPER
rs The loan expansion. which will nee
ressarily take place in The Notation of
sscct}ie Liberty loan. will inevitably rcsul,
I'm corresponding increases In bank de-
Tposits Let banks their fears OF
.t..any but Temporarily decreases In de-
fsposits. and let them remember that
Federal reserve banks are prepared 20
S,atscount their commercial paper or
papaEssecured by Liberty loan bonds.
and let country banks particularly fur
ther remember that the current rates
OF discount upon such paper are no
greater than the rate Of interest paid
on deposits by the majority Of banks
yss&t result of the thrift Idea in
stilled In the minds of the people, the
habit Of saving Will be formed and
must ultimately be reflected In In
areases in savings deposits"
MANY stores and corporations in
Richmond have announced that they
would accept the bonds in payment OF
purchases. and this has proved strong
factor In the campaign. The booths In
the women's committee have entered
many subscriptions. and there Is the
greatest activity among the commit
tee. Total subscriptions from this
Source, 1T was announced last night
aggregate s209.3o0 The booth ut
Cohen Co. entered more subscriptions
Yesterday than any other, Its figures
Being $4,000.
Roy SCOUTS TAKE ACTIVE
-. PART ~ CAMPAIGN
boy Scouts are also active In the
movement. and in addition to dis
Eibuting thousands OF circulars in the
homes OF Richmond. they have entered
many subscriptions. They are not col
lecting the applications for bonds.
which were left in the homes to be
signed. Each troop has been assigned
q: district 70: work. and at the head
quarters OF each there has been loan
station established
Nv. n. SchwarZschild will speak at
ll:so o'clock to-day TO the construction
forces engaged In erecting the aviation
warehouse and camp in the eastern
section OF the city. w. T. Dabney, OK
ecutive manager of the local campaign.
VIII speak TO employees Of the Rich
rtond branch OF the American I-ocomo-
~ a. "ooH 10 morrow.
heavy subscriptions are expected from
both meetings. Speakers are also to
make short talks at every performance
In the theaters.
eColortd citizens Of the city ara ar
ranging great mass-meeting to.n;ph,
at the Sharon Baptist Church, First
and Leigh Streets. in the interest Of the
bonds. The meeting will start prompt
ly at o'clock, and liz expected to re-
suit In many suhscr iptions. Addresses
Will be made by Maggie L. Walker,
president OF the st. Luke's Penny Saw
ings Bank: Oliver J. Sands. prcsiden,
ofsthe American National Bank: w. r.
Dnpney and Rev. Father Charles Han
nigan.
The Business woman's Club of the
toung Women's Christian Association
held an Interesting meeting In the as