New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-28
E1nect s1.65O.O0O.OOo

counted.
Expect s1.650.o 100000
Other members Of the Liberty Loan
Iron,n;ttee estimated that subscriptions
for the New York district would
amount to at least 81 ,65O,oOO,oOO.
This estimate was based on the be-
| uef that, in addition to s1.3oO'2Sl''oO
| ,ctuallv tabulated at the Federal Re-
serve Bank up TO S o'clock last night
anywhere from s85o,Ooo,oOo to $780,
600 900 was still in sight.
The majority Of towns and cities IN
The district, according to statement
Issued By Mr.. Strong, will reach their
maximum quotas. The Treasury De-
Ipartment has ruled that final figures
need not be in the hands of the Federal
Reserve Bank for five days after the
Iclose OF the subscription books. Conse-
louently. full returns will not be known
Until the middle Of this week.
| "The results Of the loan," Mr.. Strong
said. indicate that the Americans are
united in their determination 20 win
Itbis war. There has been a progress
lsive response to the loans which is
most encouraging. In the first loan the
government asked for two billion dol
llars. More than three billions were
Isubscribed. In this loan the government
has asked for three billion dollars,
with the privilege of taking half Of any
ioversubscription.
Worlds Money Centre Here
"With regard TO New York, it should
b. pointed out that our quota, as de-
Itermined by the Treasury Department,
on the basis of a total Of S3,O00,000,-
900 was S9OO,OOO,OOO. Our maximum
quota was 81 100000. This district
has consistently taken the lead in the
percentage, both Of its maximum and
It's minimum subscription, subscribed
from day 10 day, and IL IS now indicat-
Cd that when the final figures are made
Up New York will justify|its position
IS the financial centre of the world
b. the largest subscription both in
| proportion TO total resources and in
| proportion 70 population of any dis
tuct in the United States.
/ There IS nothing 10 be said except
In praise Of the tremendous enthusi-
asm and the patriotic and efficient work
Of all the people Of the district during
the campaign. The Treasury Depart
uent has put the Official responsibility
for raising our quota Of the loan upon
the Liberty Loan Committee, appointed
BY the Federal Reserve Bank.
these bankers have devoted them
selves day and night to their work, in |
many cases 70 the detriment Of their |
business, and in some cases TO the
dstriment of their health. However, II
hey have succeeded In their task, they
have done so only because they have
received the unqualified support Of men
n every line of business.
"The trades committees have been a
prime factor in the broad distribution
o. the loan. Much could be said about
| the splendid work done by these COM
rittees, numbering more than two
| hundred. A particular word of appre-
1 citation is due TO the woman's commit
Tee and the tireless and efficient work
o. 10000 volunteers who have CO.
operated In a most complete manner
With the men.
Army of Small Buyers
~0ne of the most gratifying results
OF the loan Is the great number OF
snsll Investors now indicated by the
preliminary returns. II seems probable
II this time that we have added, in
dis district alone, TO the great demo-
II Lo1I onrrnVf.
rately 100000. Too much importance
ennot be attached TO the moral sup
lor! which this great number OF men,
svmen and children can bring to bear In
support Of our arms in the field. In
many significant ways IL may be said
nai new era in our national life has
Teen instituted by the wide distribu-
uon among all our people OF long
tine and absolutely safe investment.
The Liberty Loan Committee de-
TRES officially 70 express It's deep APP
Fssiation Of the wonderfully efficient
krviee rendered By q great number OF
eeividuals- In many cases this ser.
hse has involved considerable real
aerifce. All the requests OF the com.
rttee have been met more than half
ny
4 There has been a universal realiza-
uon Of the fact that the Liberty Loan
campaign was war work of the most
Important kind and that successful
erelusion Of the campaign would bring
netory nearer. The committee hopes
eat al those who have been called
pon for service In this campaign will
.sel that they are enlisted IN the war
sviee Of the government and will hold
themselves ready for similar service
connection with the next loan"
although II became apparent early
The day that the loan in the New
sofk district had been fully subscribed,
Sefe was no let up on the part Of the
Sousands Of the Liberty Loan work
canvassing every section OF the
''net in their efforts TO round up
&c asst Of the prospective buyers.
War News Aids Sales
ne news that American troops
Ave been in the front line trenches
~, several days alongside the French
'@0 That the American artillery had