New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-25

Ten dollar participation certlheate'
in .he Liberty Loan. five Of which may
be exchanged for a $50 bond. will be
ready for delivery on Tuesday. The
FEDERAL Reserve Bank Of New YORK
expects to have them on sale in depart
ment stores, chain stores, drug stores,
tobacco stores and wherever the vol
ume OF business warrants Il.
Officials Of banks. trust companies
and investment houses said yesterday
the distribution machinery was work
Ing smoothly at last. and subscriptions
were constantly increasing IL volume.
The bond statesmen who started from
the financial district on Monday report
an increase of almost 800 per cent in
the number of subscriptions obtained.
At the Guaranty Trust Company and
other Wall Street houses ii was said
the increase in applications was most
noticeable in the case Of corporations
which were subscribing with the idea
Of distributing bonds among employees
or the instalrent plan. The general
committee Of the American Bankers
Association, however, reported that IN
formation concerning the issue was
percolating slowly in rural districts,
and the response had been below eX-
nectations. IL was thought possible
by the committee that banks might
have to take up considerable part OF
the issue.
Many Important Subscriptions
An unusually large number of i'm
portant subscriptions were announced
Yesterday. The increase through the
Central Trust Company has brought
the total for that institution up to
more than Sl1 100000. Among other
large subscriptions announced was that
of 7. s. Moselv e. Co., for $4,000, COO;
the American Can Company, 100000;
National Biscuit Company, S5OO.OOO;
Bank of Montreal on its own behalf,
81 100000; Citizens Central National
Bank, for itself and customers, $1,000
600; Exchange Buffet Corporation, 500
0Oo; Frank V. Skif, president Of the
Jewel Tea Company. 100000; Charles
A. Winpfheimer. Sf00,000; Louis Mar
shall. 100000: J. II. & c. X. Eagle,
100000; Wolverine Mining Company,
S250,000.
The Interboroueh Rapid Transit
Company, which subscribed Tor $1,000
goo Of the loan, announced that II had
also made arrangements 10 purchase
the bonds Cor its employees. permitting
payments 20 be made over period OF
fiftv weeks. The Tobacco Products
Corporation. which took 100000 OF
the bonds. is Offering them to employees
on the instalment plan.
Urges Railroads TO Help
Alfred VI. Smith. president Of the
New York Central. who is chairman OF
the Railroad Liberty Loan Committee.
wrote TO other railroad heads. urging
them TO cooperate in distributing the
bonds among employees.
Jacob II. Schiff pointed out the in
trinsc worth of the investment. The
bonds. he said, would be tax free and
would pay Si9 per cent, which, if the
war lasted for a considerable time,
would be increased TO 4 or Az per cent
as new issues appeared. IL the war
was short and no more such loans were
sought, the bonds would at once ad-
vance TO considerable premium, he
said.
Irving T. Bush. president of the
Bush Terminal Company. announced
that the company's 10000 employees,
more than % per cent Of whom are for
eign born. soon would be enrolled as
Liberty Loan subscribers.
President Wilson Endorsed a plan TO
employ Boy Scouts in the bond selling
campaign. and 100000 pamphlets is
sued by the Treasury Department will
be distributed by members Of the or
ganization on June y, II, 10 and u.
The General Electric Company. at Its
main Office at Schenectady. yesterday
set aside s5,0o0.000 for the purchase
Of Liberty Loan bonds. In addition the
company will buy for its employees
bonds Of all denominations. 10 be sold
on a weekly subscription basis.