Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-06-16
LIBERTY LOAN IS
0VERSUBSCR|BED
Nations Surplus May APP
proach $1,0OO,OOO,0OO Mark,
Officials Say.
SMALL INVESTORS SAVE DAY
Individuals Number Over 3
Million; Checking Still
Unfinished.

WASHINGTON, June Is. Inc
American people have responded TO
the governments call for funds to
finance the war with an oversubscrip-
tion to the $4,000, 100000 Liberty
loan of proportions so huge that Off
cials are buried beneath landslide
of untabulated returns.
Small Investor Saves Day.
In the country's ringing answer to
the call the dominant note was the
voice of the small investor. His money
talked this last day Of the campaign
in eloquent terms.
II appeared tonight that all pre-
Vious estimates had gone by the
boards and that nearly three million
men and women had bought their
bonds.
At the treasury a note of conser-
Natism was sounded concerning these
estimates. IT was feared that the
committee, flushed with success.
might be over-optimistic and there
was a manifest unwillingness to az
cept as final any estimates unverified
by actual tabulations.
Estimates by Districts.
Estimates from the IL reserve dis
tricts, some of them unofficial. but
mostly from local loan committees,
indicated late tonight that the sub
scriptions might reach the total of
SO, S62 ,SOO,0
These. estimates, which were not
vouched for as authoritative at the
treasury department, were as follows:
New York S1,2OO,OO 600 with the
certainty that the offering would far
exceed S1,00O,OOO,0
Boston s263. 800, 900 (official.D
Philadelphia $500, 900. Tho
compilation at p. m. was sl65,000,-
600.
Cleveland s2s4,OOO,OOO as estimated
by the chairman of the local commit
tee after a careful survey of the en-
tire district.
Richmond more than 100000, 900,
Atlanta s52, estimated with
$3S, 900 tabulated.
Chicago s325,000,OO0 with $780,
600, 900 tabulated
ST. Louis sS1, 500, 600 estimated upon
returns to the federal reserve bank.
Kansas City 100000, 900 estimated
by the federal reserve bank
Minneapolis s62,0O0,O 900 estimated
by Governor Void of the federal re
serve bank.
Dallas $47,OoO,OOO estimated Ivy the
federal reserve bank
San Francisco 100000, 900.
Three Districts Fall short.
On the face of these estimates it
appeared unlikely that the total
would fall below s2.600, 100000. 1t
also appeared that three reserve dis
trtcts - Atlanta, Kansas City and
would fall below their
minimum allotment.
Secretary McAdoo announced the
oversu description shortly after the
closing of the books in the east. ,
THE Liberty loan has been over
subscribed" he said "It is impos-
sible to state the amount of the over
subscription, but the exact figures will
be given out as rapidly as the returns
are received at the treasury depart
ment."
Officials waited late tonight at the
treasury for these returns, but none
came in. There We're only estimates.
From every reserve hank the story
was the same--a tremendous volume
of untabulated returns.
81 desire to express my deep APP
probation of the efficient and pa.
triotic service you have rendered in
connection with the Liberty loan. The
success OF which has been so strik-
Ing and pleasing to the country" Sec
retary McAdoo telegraphed all re-
serve banks tonight. "Will you not
convey to the Liberty loan committee
of your district. to the banks and to
all other organizations which have
co-operated with you in this great
Liberty loan enterprise, the assurance
of my warm appreciation as well as
my cordial thanks?
"Will you not urge these commit
tees to preserve their organizations in
order that they may be prepared to
render signal services of like char
aeter to their government when 1t is
called upon again to seek an addi-
tional credit?
1T Is of the utmost importance that
CONTINUED ON PAGE FIVE