The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1917-05-05
LIBERTY LOAN
SUBSCRIPTIONS
HIT FAST PACE
Sum of Nearly $20,000,000 an
Hour Pour Into the U. s.
Treasury Department
NEW YORK CITY BANKS
TAKE A FULL MILLION
Sum of $138,674,400 Tabulated
Last Night Indicates Amount
Will Be Over Subscribed

Will Be OVer-SuDscI1Ded
Washington, May 5.-Subscriptions 8.
to the Liberty loan poured into the
treasury department today at the rate
of nearly $2O,0OO,OOO an hour. The
greatest outpouring Of national wealth
in the history of the world was fore
Swallowed by the first days response
to the offering Of the loan.
The sheaf of kilograms from every
section of the country grew larger as
the day progressed despite the I'M
divided eXertions of staff Of clerks
asserting and classifying the offers of
subscriptions. Five hundred tele-
grams, less than two per cent of the
total number of banks from which re-
plies are expected, had been classified
by states and tabulated when the Of
flee closed at 1 o'clock this afternoon.
These 500 responses carried offers Of
subscriptions to the amount of $13S.-
G74,OOO.
The greatest flood of responses came
between and & p. m. after the Of
fees had closed. 1t was estimated
that 500 more banks were heard from
within the two hours.
100 PER CENT OVER-SUBSCRIBEiD
The $13S,6740OO of subscriptions
tabulatcd today, representing less than
. per cent of the banks alone, indi-
Gates that the $4,000, 100000 offer will
be Over-subscribed at least 100 per
cent With all other agencies Of sub
scription, such as department, stOrrs,
express companies, newspapers and
patriotic societies yet to be organized
and to exercise their efforts in obtain
ing subscriptions, the .OVer-subscription
may be much larger. Should the ratio
of the first response be maintained
in replies from the other banks, the
banks and their customers alone would
offer subscriptions totaling approxi-
mately $7.OOO.OOO.OOO.
MANY LARGE SUBSCRIPTIONS
One subscription Of $2O,OOO,O0O
was received from bank in New
York. Another was for $5,OOO,O0O.
The smallest subscriptions was $5,-
coo. New York led the list Of states
with subscriptions aggregating approX;-
mately $72,0OO,O00 more than half the
total amount.
Among amounts subscribed by he
first banks to respond, grouped by
states were:
Iowa $4,000, Minnesota 100000,
Montana $25, 5,O0O Nevada $25OOO, North
Dakota $17O,OOO South Dakota, $780,
OOO,, Wisconsin $4,000, Wyoming
$4,000.
n. Y. TAKES A BILLION
New York, May 5.-Total subscrip-
tions in New York City to the $1,000
100000 liberty loan. amount thus far
to between $25OO0O,OOO and $500. O.O0O,.
600. it was estimated in banking circles
today. 1t was predicted' that after
Secretary of the Treasury McAdoo has
completed the details for the flOatatiOn
of the loan. additional subscriptions
here will bring the total to 1905, 900, :
600.
RAILROADS BUY HEAVILY
lie estimate was based on a caH-
V'aSS VI !.Ii dllu StdGc UulIfS, IL
companies. private banks and brokers
houses. which are receiving suiscrip.
lions to the loan. Some of the larger
concerns declined ut this time to give
the exact amount Of the subscriptions
recC ived. Among the subscriptions
announced were $1O,MO,OOO by Kuhn,
Loeb & Co., for their own account, ant.
SJ.OOO,WM for the Union Pacific rail
road; S:.O0OOOO for the Soutnerl PA
citc and $2,5OOOOO for the Western
Union Telegraph Co. Various OTHER
corporations, industrial, insurance and
railroad. dre reported to have sub
scribel N amounts ranging from 81
100000 to $3,OOO,OOO.
Seventy of the foremost bankers of
the city were in luncheon conference
here today with Secretary McAdOo and
Af..r assuring him -! the un:' l 1"i
-. cess Of IT,: loan. 'liScI,SScl witt him
1..,. .tiOns o. ma IL, denominations,
whether the loan should he raid in i'll
stallments and other details of the flo
tatiOn.
The secretary lnnounced after the
conference with tic bankers that he
saw no difficulty in financing the gov
ernments war requirements and that
it could he done without disturbing the
business of the country in the slightest.