The Birmingham age-herald., 1917-06-16

In the absence of official figures of the returns, officials hesitated to predict how high the total would soar. It mounted every hour to new heights and assumed such proportions that there was an apparent inclination to accept with some allowances the rosy estimates of local liberty loan committees as to the totals of their districts .,
 NOTE OF CONSERVATISM
 At the treasury note of conservatism was sounded concerning these estimates. It was feared that the committees, flushed with success, might be over- optimistic and there was a manifest unwillingness to accept as final any esti- mates unverifed by actual tabulations. Estimates from the F reserve districts. some of them unofficial but mostly from local loan committees, indicated late to- night that the subscriptions might reach the total of s2,S6 2,s0o,o0o. These es- inmates, which were not vouched for as authoritative at the treasury department, were as follows:
 ESTIMATES IN DETAIL
 New York, $1,20O 100000, with the cer- tainty that the offering would far ex- ceed $l ,0Oo, O0o,0O0.
 Boston, s263, 3OO,0 900 (officiaD.
 Philadelphia, s2Oo OOO,0OO The compila ton at ? p. m. was $16oo00,oo0
 Cleveland, s2S4Ooo,oo0, as estimated by the chamber of the local committee, after careful survey of the entire dis trict.
 Richmond more than $1oo,oooooo.
 Atlanta. s50,00o000. estimated with SSs,- 0oo,00 tabulated
 Chicago, ss25, 900, 900, with s2so, ,oOoooo tab ulated.
 St. Louis. Sl.5Oo,O0O estimated upon re- turns to the federal reserve bank.
 Kansas City. s9ooOo,0OO estimated by the federal reserve bank.
 Minneapolis, S62, ,OO00o0, estimated by Governor Wold of the federal reserve bank
 Dallas, s47ooo,0oo, estimated by the fed eral reserve bank
 San Francisco, s1600o0,00o
 San Francisco, s16o00o,ooo estimated by federal reserve bank. Tabulations at 4:aO D. m. were $150000,000
 On the face of these estimates it ap- peared unlikely that the total would fall below s26oo,ooo0o0. It also appeared that three reserve districts. Atlanta. Kansas City and Minneapolis. would fall below their minimum allotments.
 M'ADOO'S ANNOUNCEMENT Secretary McAdoo announced the over subscriptions shortly after the closing of the books in the east.
 .'The liberty loan has been oversub- scribed," he said. Ut is impossible to state the amount of the oversubscription but the exact figuyes will be given out as rapidly as the returns are received at the treasury department.
 Officials waited late tonight at the treasury for these returns, but none came in. There were only estimates. From every reserve bank the story was the same-a tremendous volume of untabu- lated returns.
 II desire to express my deep appre- citation of the efficient and patriotic serv- ice you have rendered in connection with the liberty loan, the success of which has been so striking and pleasing to the country" Secretary McAdoo tele- graphed all reserve banks Will you not convey to the liberty loan commit tees of your district. to the banks, and to all other organizations which, have co-operated with you in this great lib- erty loan enterprise the assurance of my warm appreciation asswell as my cordial thanks?
 PREPARES FOR FUTURE
 twill you not also urge these com mittees to preserve their organization 1T