The sun. [volume] (New York [N.Y.]) 1916-1920, 1917-10-02
$200,0OO,0OO
POOL AIDS LOAN
Will Keep Money Market Easy
-S25.0OO.OOO Subscribed
Here First Day.

AT the close OF the first days cam
paign for subscriptions TO the second
Liberty Loan OF 1917 the so-called
announced that arrangements had been
completed for the formation Of 5000
ooe.' 20 money pool TO keep the money
market easy for the period of the loan.
This Development marked the climax
OF day Of tremendous activity in con-
nection with the loan which began in
the morning with parade from the
financial district to City Hall. where the
signal for the beginning Of formal ac-
tivit.es was flashed by Mayor Mitche..
The day was not taken up entirely by
formal ceremonies in connection with
the opening of the campaign. Actual
Subscriptions far in excess of the amount
subscribed on the first day o: the pre-
vious campaign rolled in to the COM
mittse. More than s2j.O0o,oUo OF large
subscriptions were announced by II few
banks through the committee, hut the
great majority Of banks and other
agencies which received subscriptions re-
NAMED silent. of the subscriptions an
nounced the largest came from The New
York Life Insurance Company II was
for sl0.o03.0o0,
Pool L. " elcOmr Surprise.
The formation Of the money pool came
as a pleasant surprise to the financial
district. The past few days performance
of the STOCK market had almost caused
the street ia abandon The theory that
sentiment was to he improved through
the easing of the money market The
proceeds Of the pool will become avail
able Immediately, and funds In addition
TO the 5000. .000. 900 have been pledged by
the banks participating in the pool IL
there Is any need for them. In anLourc-
ing the fund GOV Strong as chairman
of the money committee said:
Daily reports are now being received
from all banks and trust companies in
New York city in response to the re-
quest sent them. In view of the ap-
preaching period during which large
payments will be made on accoun, Of the
new issue OF Government bonds the
committee has considered il prudent 10
make arraEe,nents with "A large number
OF the banks and trust companies which
are now iling these reports to place AZ
ths dlsvosal Of the committee fund to
be loaned in their discretion ms needed
The committee has pledged that a
very iarg. sum will be provided or which
over 5000 0oo, 0oo Is Immediately avail
able. II is expected that by this means
The credit resources OF the Federal Re
serve Bank will he made available a4
needed.
THE members o! the committee which
will have charge OF the handling of this
fund are James :. Alexander. president
of the National Bank Of Commerce ::
noG oh a n hn sirxt
Natlona! Bank walter f.. Trcw, prcsi-
dent OF the Corn Exchange Bank Gates
W Mrt;arran, president OF the Mechanics
and Metals National Bank: Charles II.
Sabin. pres sidart OF the Guaranty Tru. t
Company benjamin strong, Frank \.
Nauderlip. president ~ the National CITY
Rank : James w. Wallace. president OF
, the Central Trust Company. and Albert
II Wiegn, president Of the Chase Ma
tional Bank "
Tho nrs, actual subscription to tho
loan Was made Immediately after the
openinr of subscription books by Nathan
: Jonas president of the Manufacturers
Trust Company Of Brooklyn. for 81, 800. 70
qua In behalf Of that institution. This
.,ubsr, ipt'on was followed by one Tor
.I0. 600 900 from Kuhn, Loeb Co,
e. GOO 600 on hehalf OF The Union Pacific
R,i,wav and similar amount for the
southern Pacific.
rmisrnnt Bank s.,OG0, 1000.
othcr subsci .ptions during tie aal
were 81. 900 900 by Bernnard. SynoIlr a
90. 1000, ,0Oo by the Ernigrant Indus
trial Savings Bank, si,o0o,0o0 hy m"
N,rcantil. Trust and DEPOSIT Company.
81 ouO OUo rs Maitland, Coppell d GO.
through the Bank %; the Americas. 81
SOC. 900 ny the Republic Iron and Steel
COMPANY. ss5",ol hy John u Manning
end $3.50 00o through the National CITY
Bank.
! The opening gun In the campaign was
fired At 10 O'Clock yesterday morning
when 1000 bond salrsnen in military
formation paraded from the Sub-Treas-
ury in Wall street TO City Hall. where
they were addressed by Mayor Mitchell
, The bond statesmen we're escorted hy de-
cont t{uuSA or Second pnoe