The Detroit times., 1917-10-01
LARNED TO
AGAIN SELL
WARBONDS
Big Drive For DetrOit's
$4,000, 900 Quota
Begins Oct. 10

Ralph stone, president OF the De
troit Trust company. has hurried
home from the convention OF the
American Bankers association in
Atlantic City TO prepare for Dc.
troIt's second big Liberty Loan
drive. which is expected 20 begin
about Oct. 10, or earlier n possible.
Mr.. Stone arrived Saturday morning
and al once buckled down 20 work.
As treasurer OF the campaign and
a member Of the executive commit
tee he will be one of the busiest
men in Detroit from The beginning
OF rhe drive until II ends, Oct q.
Detroit's quote OF the new So
900. 600, 900 issue will be az least $50
100000 Nothing short OF 80 per
cent oversnbscription will satisfy
MIR. Stone and his associate on the
committee. In New York, on his
way home, he net Abner Z. Larned,
who will again be in charge OF sales,
and the two called on the New York
Liberty Loan committee. They
came away with some valuable sng-
gestions which will be utilized so
Tar as possible in the local cam
paign.
The four great needs OF the war
are men, money, materials and
munitions--the four Ms call them
for short" said Mr.. Stone 10 The
Times. "Ovr big job from now
until Oct. "a will be 10 help raise
the money, which is just as import.
ant right now as men in the sue
cessful prosecution OF the war, for
without il we are pOwerless Mate
rials and munitions are equally val
liable. BY doing things quickly We
will save both lives and money.
While the drive is on the mem.
bers OF the committee plan 20 de-
vote practically their entire time
week ttt-sss- ~ =
business interests. Headquarters
will be established in a convenient
location and an adequate clerical
staff viii be engaged. The commit
tee will meet Monday 10 so over
the preliminary details.
The work will be more systema-
flxed this time Instead Of the free
lance methods that obtained in the
earlier campaign. he city viii be
divided into districs. and solicitors
will be expected 10 confine them
selves 10 the districts assigned them
The executive committee includes
John w Staley, executive secretary,
Ralph Stone, treasurer, Abner r.
l.arned. chairman Of the sales com
mittee; Harry w. Ford, publicity
chairman Richard II. Webber. in
charge OF administration. and VIII
liam G. Lefchen, chairman Of the
Wayne county rural committee. The
executive stan will include X. B.
Locke. general secretary. Julius
Peter and Carroll II. Lawson, assist
ant secretaries.
In the last drive with quota of
s33, 900 600. the bond subscriptions
reached 1000, 900, and there were
l15.000 subscribers. The govern
ment cnt the citys allotment OF
bonds 10 $2l ,000. .000 but some So
100000 worth was purchased by De
troitcrs outside, bringing the total
for Detroit 20 about $4,000. 900
MIR. Stone emphasizes the import
ance OF an oversubscription OF the
UtN AUdlls itt ANNfi lAiiFAAAt Ht 0os 20
will be prepared 10 handle 80 per
cent oVersubscription and he wants
10 see Detroit do its fun share
THE people should not only sub
scribe for this loan, but they should
also begin now 10 save for future
loans" Mr. Stone added If the
war is long drawn out there are
likely 10 be several more"
Local hanks will begin receiving
subscriptions Tor the new Liberty
Loan next Monday. Receipts will be
issued for the initial and subsequent
payments. the bonds to be de1iy-
cred when payment Is completed
The new issue OF $4,000. 100000 will
ray four per cent. Bankers advise
customers desiring 10 exchange the
1-2 per cent bonds Of the first is
sue for the new bonds 20 wait until
after the selling campaign ends. The
transfer will involve great deal OF
clerical work. which would seriously
interfere with the work Of placing