The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1917-06-16
ovERsUBsCRmE THE LOAN.
Every Indication That Before Drive
Ends, Americans Will Have Bid for
More Than Two Billion Dollars
Worth or Bonds Of Freedom.

the nation would result in going wei
beyond the $4,000. 100000 goal.
(, From coast to coast the story that
poured into the treasury all day was
the same. a story Of whirlwind
finish. kilograms told Of tolling bells
and shrieking whistles across the con-
tinent, marking the last day of the
campaign; of redoubled efforts by
many agencies at work for the loans
success, of enthus'"sm at its highest
pitch. Of long wa lines OF sub
scribers In thousands Of banks in
every State of the Union.
The last "a hours work Is going
to show big in the final count, accord
ing to these reports. Before noon to-
morrow. officials hope. every man in
the country who can subscribe will
have done so. At the closing hour
tonight there was no telling where
the total might lead, no basis for fore
casting the final figures. 1t seemed
certain, however. that at least $780,
coo percors will have subscribed be-
fore the books are closed at noon to-
morrow.
Measuring the total by the number
Of Liberty loan buttons which have
gone out from headquarters the num-
Der Of subscribers should exceed
$4,000 More than 100000 but
tons will have been distributed be-
fore the three chief button factories
Of the country working night and
day. catch up with their orders several
days hence.
Late campaign figures made public
today by Secretary McAdoo as of the
close OF business last night showed
an apparent shortage of $4,000, 900,
to total reported being $1.S43.0o0,O00
They showed an increase of nearly
$500, 000.0 in subscriptions over the
previous days report.
The loan. according to reports re-
ceived by treasury officials. is in ever,
sense a popular one. By far the
greatest issues which the bureau OF
and printing will be called
upon to turn out will be $50 and 500
bonds For them there has been an
extremely heavy demand in every in
dustrial section of the country and
In many rural communities. The city
Of Washington, officials estimate. will
10000 individual subscrip-
tions, most of them for the $50 and
s4So bonds. Employees Of the treas
ury department. alone, subscribing to
the $50 and 500 bonds have taken
$450,000.
Many thousands of banks and trust
are yet 70 be heard from
with their subscriptions. This item
alone. 1t is thought. will swell the
total by many millions The amount
today, $1.S43.O0o,0O0, rep
resents actual subscription in the fed
eral reserve banks, accompanied by
the required 2 per cent. of the amount
of subscriptions. Officials believe that
the reserve banks will be deluged to-
morrow by a flood OF last minute sub
scriptions which will keep them busy
for hours tslbulating them. The small
investor Is to be favored above al
others and every application for
small. bond is to be granted. In the
case of oversubscription, this would
result in pairing down the larger sub
scriptions on q proportionate basis as
announced by Secretary McAdoo.
Throughout the country the banks
are keeping open till late tonight to
accommodate the last minute in
vestor The treasury department has
granted banks permission. in extreme
cases. to telegraph the amounts Of
their subscriptions to their reserve
haEks. telegraphing the per cent OF
the total at the same time. but all
subscriptions to be counted must
reach reserve banks not later than
neon.
The exact total Of all subscriptions
from every source may not be known
for some time after the cl sing Of
the books because of the tremendous
anount Of Gle. ical work involved in
assembling returns and making tabu-
lations. New York estimates it will
be able to report its total not later
than s o'clock tomorrow night. In
the case of the other reserve banks
the delay may be greater.