The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1917-06-15
Oversubscription of More
That 25 Per Cent Is AS
sured
SMALL SUBSCRIBERS
SWAMP COMMITTEES
All But Two Districts Ger
tain to Take Their AL
lotment ..
by Associated Press. J


Washington, June 15.-The
Liberty Loan has been tremend-
ously oversubscribed. When the
books closed at noon treasury of
ficials estimated the total would
reach $2.50O.OOO.0O0 and might
soar to $3,60O,OOO,OOO.
Nearly every federal reserve
district exceeded its allotments.
Scores of small subscribers
stood in line at hundreds of banks
throughout the country during
the final hour. The small sub
scribers had apparently responded
with an enthusiasm that exceeded
the most confident hope of Off
cials.
Swelling the huge totals by mil
lions came the belated subscrip-
tions of the banks that held back
till the last moment. Because of
this situation the exact total may
not be known for many hours. The
full magnitude of the response
may not be measured for several
days. Thousands of belated SUBJ
scrlptions may not reach the re-
serve bank until after the dead
line at noon and these must be in
cluded In making up the full total.
Millions of dollars, it was said,
were transferred by telegraph by
national ard state, banks on be,
half of their customer4 to the fed
eral reserve bank. This transfer
marked the last minutes of the
loan. ..s
Encouraging reports came from
Minnesota where committees were
conducting the firAl drive TO reach
the $S0.O00.O00 minimum set for the
ninth district. The unofficial esti-
mate OF the total up to the close of
business was $67.000.000.
Chicago Passes Mark.
The Chicago district flashed past it's
quota of $3.50, 100000 shortly after the
accountants resumed work this morn
ing. The first figures were 1855, ,000,- .
900 and IL was predicted the loan I'm
the seventh district would be over
subscribed $40.000.000.
Bushel baskets filled with appIica-
tions for the loan greeted tabulators
for the Kansas City district with $685.
100000 actually recorded. OficiaIs
were confident the total at Kansas
City would pass $75,000,O00.
Cleveland subscriptions reached
NJ rfN
exceeded her maximum total of S45,-
00O,0 by 25 per cent. Officials pre-
dicted that the allotment OF 1925, ,000,-
600 for the fourth district would be
over subscribed.
New England investors made a
spectacular drive today to make up
the $26,400,o00 to fill the minimum
quota OF $4,000. 900. Accountants
were far behind in their tasks and
Boston committee members were con-
cerned not so much with whether New
would come up to the mark
as with how heavily it had over
It was announced that the Dallas
district has raised its quota Of s40,-
100000.
Billion From New York.
With tabulating clerks hours behind
the subscriptions the New York dis
trict had reached an aggregate OF
1852, ,000,0 ,000 It appeared New Yorks
share in the loan would exceed half
of the two billion total.
Ninth District Total.
Minneapolis, June Is. Unofncial
estimates place the total Liberty Loan
in the Ninth federal re-
serve district at $66,000,000. at the
close of the campaign today. Indica-
tions were that more than 10000 SUBJ
have been received, or an
average of $40 each. The federal bank
at Minneapolis. in charge Of the cam
paign, was in an unprecedented con-
dition of congestion today. Officials
refused to make any statement as to
the amounts OF belated subscriptions.
OF $500 banks in the district, 2,400
had sent in reports that were on
record. That the closing rush might
run the total up to SIC, ,000.0 900, was
suggested but as most OF the late sub
were for small amounts,
this hope did not seem warranted
The splendid response in cities and
towns resulted in many oversubscrip-
tons.
Sell Above Par.
New York, June is. The initial
stock exchange transactions in Lib-
srty Loan bonds trading, which began
on the New York stock exchange to-
lay, was above par. A lot Of $4,000
sold at par and 1-50. The next lot OF
sNRA n "a