Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1917-06-16
Every Federal District Reaches
Allotment Except Atlanta
and Kansas City, Is fsti-
mate,
EXACT TOTALS NOT
YET FULLY FIGURED
Sum Likely to Reach Between
,500,000,000 and $3,-
100000, 1000, Is Forecast
When Noon Is Reached.

tsY noaN,so JOURNAL spscrAL LNAsSo wIRsi
Washington, June 15.--The Ameri-
can people have responded to the gov
ernment's call for funds 10 finance
the war with an oversubscription to
the $4,000. 100000 liberty loan of pro-
portions so huge that officials are
buried beneath a landslide of untab-
ulated returns.
No man could say at 10 o'clock to-
night how great had been the nations $
answer. Apparently it was over
whelming beyond the most sanguine
hopes of treasury officials though not
one Of the twelve federal reserve
banks, regional headquarters OF the
lean, could hazard more than an esti-
mate of its total.
In the country's ringing answer to
the call the dominant note was the
voice of the small investor.
Small Investor to Front.
His money talked this last day of
the campaign in eloquent terms. The
hope for widespread response of the
average man with the average income
was more than realized in the multi
tudes that flocked to the banks today.
In the absence of official figures to-
nlS III OllltlhlS ItSllulc W ~ tuiNI ho Nv
high the total would soar.
Estimates from the twelve reserve
districts, some of them unofficial but
mostly from local loan committees, in
dicate late tonight that the subscrip-
tions might reach the total of s2.s62,-
500, 600. These estimates, which were
not vouched for as authoritative at
the treasury department, were as fol-
lows
What Districts Show.
New York---$1. 200, ,000, ,000, with the
certainty that the offering would ex-
ceed $1,000. 100000.
Boston--$263, 800, 900 (official fig
ures up to S p. m.)
Philadelphia - $500, 100000 The
compilation at p. m. was $l65,ooo,-
600.
Cleveland-$2S4,0 ,000, 900 as estimat-
ed by the chairman of the local com
mittee after a careful survey of the
entire district.
Rlchmond--More than 100000, 900.
Atlanta - S50,000,000, estimated,
with $3S, goo, 600 tabulated.
Chicago-$325. goo, 900, with $780,
O0O, 900 tabulated at p. m.
st. Louis-$S1. 100000 OBSTINATE
upon returns to the federal reserve
bank).
Kansas City-$9o, 100000, estimate
by the federal reserve bank.
Minneapolis --- $62, 100000, estimate
of the federal reserve bank.
Dallas--$47, 100000, estimated by
the federal reserve bank.
San Francisco-$160,000 900, esti-
mate by federal reserve bank. Tabu-
lations at 4:30 p. m. were S15O,0Oo,-
900.
On the face of these estimates 1t ap-
peared unlikely that the total would
fall below $4,000, 100000. II also ap-
peared that three reserve district, At
lanta. Kansas City and Minneapolis,
would fall below their minimum al
lotment
Secretary McAdoo announced the
oversubscription shortly after the
closing Of the books in the east.
McAdoO's Statement.
"The liberty loan has been over
subscribed" he said "It is impos-
sible to state the amount of the over
su ubscription but the exact figures will
be given out as rapidly as the returns
are received at the treasury depart
ment.
II desire to express my deep ap-
preciation of the efficient and pa
triotic services you have rendered in
connection with the liberty loan, the
success of which has been so striking
and pleasing to the country" Secre-
tary McAdoo tonight telegraphed all
reserve banks. "Will you not convey
to the liberty loan committees OF your
district, to the banks. and to all other
organizations which co-operated with
you in this great liberty loan enter
prise the assurance of my warm ap-
probation as WELL as my cordial
thanks
Hold Committees Intact.
"Will you not also urge these COM
mittees to preserve their organizations
in order that they may be prepared
to render signal services of like char
acter to their government when it Is
called upon again to seek an addi-
tional credit? It is of the utmost inn
portance that the splendid machinery
now perfected shall be available when
needed
This machinery, Mr.. McAdoo indi-
Gated, will be utilized this fal! In
floating the second loan contemplated
under the $1,000, 100000 war finance
law. Mr. McAdoo said he did not
think there would be another offer
ing before fall. The next loan hard
ly will be closed, it is thought. prior
to September 80, as installments on
the present loan will continue till
August 80. and at least thirty days
will be devoted to the second cam
Eaign.
The exact measure of the country's s
response to the loan probably will
not be known until next week.
Many subscriptions Late.
Thousands of subscriptions came
too late to the federal reserve banks.
These, by Secretary McAdoo's instruc--
tons, will be tabulated sperately and
the total forwarded to Washington.
It is possible that where 1t can be
shown that failure to reach the re-
serve bank in time was due to no
fault of the subscriber or the for