New-York tribune., 1917-05-23
Reserve Banks Have Ccrtih-
cate Plan to Aid Small
Investors
Rockefeller Buys
$5,000,0OO More
Canadian Pacific and Other
Big Concerns Heavy
Bond Purchasers

Another method of permitting wage
earners to participate in the Liberty
Loan was tentatively announced yester-
day as n programme under considera-
tion by the Federal Reserve banks. The
plan involves the issuance Of $40 par
ticipation certificates which may be ex-
changed for the $50 and sl00 bonds
when enough Of them have been pur-
chased to make this arrangement pos
sible. The plan is expected to appeal TO
a larger army of small investors, as it
will have the advantage of being
directly under the supervision of the
Treasury Department.
Notes given to banks by individuals
Of business houses for the purpose of
purchasing Liberty Loan bonds will be
discounted at the Federal Reserve Bank
at q special rate Of 3A per cent. This
announcement, made late yesterday
afternoon, is expected to result in
large increase in subscriptions for
bonds through banks that are members
of the Federal Reserve system.
The flying squad of the force of Lib
erty Loan bond statesmen was in action
during the day, answering calls from
the units in the field. who report TO
headquarters, at 80 Wall Street, hun
dreds of subscriptions. One of the
plans worked out during the day was a
programme in which neighborhood as
sociations OF The Bronx and the East
Side will interest small investors in
their districts and instruct them as TO
the methods by which they may ac-
ouire the bonds.
Bonds "Out of the Air"
Getting Liberty Loan bonds out Of
the air will be a feature of an aerial
rally being arranged for the week of
June 4 by the Aero Club of America.
As many aviators as are available will
be impressed into service for the pur-
pose Of carrying literature and even
bonds into districts that will be set
tied upon later. In some instances
members of the loan committee or
speakers will be carried in the ma
chimes. Every aviator participating in
the demonstration will be given a loan
bond as a reward for his share in the
programme.
John ID. Rockefeller, according to an
announcement by the Equitable Trust
Company, has subscribed to another
s5,000.000 of Liberty Loan bonds.
bringing his total subscription up to
Sl0,000,000. Other subscriptions re-
ported yesterday were:
Canadian Pacific Railway, 81 900 900;
Excelsior Savings Bank, of New York,
s250,000; u. T. Hungerford Brass and
Copper Company, 100000; German
Savings Bank, of Brooklyn, $4,000;
Albany Savings Bank. 100000; ]. &
w. Seligman 4 Co., S2.000.000; Ameri-
can Brass Company, sl,00O,O00; State
Bank Trust Company, of Hartford,
$3.50, 900; New York Life Insurance
Company, s5OO.000; Millet, Roe & Ha-
gon, 100000; Henry Zuckerman Com
pany, S125,000; Franklin Simon Com
pany, $4,000, and Max J. Breitenbach,
81, 100000.
President Bulkeley of the Etna Life
Insurance Company announced yester-
day it's intention OF subscribing for
any amount of liberty Bonds that the
company's employees may decide TO take,
more a month.
Merchants Committee to Meet
A meeting Of the Liberty Loan sub
committee of wholesale merchants will
be held this afternoon in the office OF
William Iselin e. Co., 357 Fourth Ave
nue.. Following are the firms that VIII
take part in the meeting:
Francis H. Leggett & Co., Fleitmann x
Co. Samuel Eiseman & Co.. Deering, Slilh-
ken & Co.. Amory. Browne Co.. Robert
Refs & CO., Watts, Stebbins K Co. Drelcer
a Co. Elms 4 Sellon. Metcalf Bros. Co.,
William Iselin Co. and NJ. {. ID. Borden
& Sons.
AT the request of the Treasury De-
partment the Liberty Loan Committee
will hereafter withhold any further an
nouncements as to subscriptions. THIS
was decided upon because it was felt
that to make public detailed figures
oI,s nHn