New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-30

terday they had received a large number
OF promises from individuals for SUBJ
scnptions TO the government loan
after the first of the month.
The Chatham & Phenix National
Bank, which is making this Liberty
Loan week. swelled its subscriptions
from s2,O000OO to 100000. The
Central Trust Company increased its
previous total of S25,000,000 by sub
scribing sl,500,OOO for the Niagara
Falls Power Company. Other sub
scriptions were 100000 by F. B.
Keech e. Co.; $1,5OO,000 by the Com
monwealth Edison Company, 81 ,0OO,-
600 by the Onondaga Savings Bank, of
Syracuse; 100000 by the Syracuse
Savings Bank, 100000 by the Great
Lakes Steamship Company, and $780,
900 by the Utah Consolidated Mining
Company.
Savings Banks May Buy Bonds
Formal approval of the purchase of
Liberty Loan bonds by any savings
bank in New York and OF the sale of
the bonds to their customers or other
patrons was announced yesterday by
Eugene Lamb Richards, State Superin-
tendent of Banks. He also ruled that
il is legal for a savings bank TO make
loans TO a subscriber on his demand
note with a Liberty bond deposited as
collateral up to 90 per cent OF its mar
ket value.
Liberty Loan buying by city employees
started with a rush upon receipt of the
plans b. which $50 and 500 bonds may
be purchased.
The Brooklyn Rapid Transit Company
is Offering its $4,000 employees an op-
portunity to subscribe under two plans.
The first, which is for the high salaried
men, provides for payment within a
year In the second plan payments are
distributed over two years. In other
words. man can buy $50 bond on
average weekly payments of As cents.
The Lehigh Valley Railroad has adj
vised its $4,000 employees to subscribe
TO the loan, and has promised to buy
the bonds for the men, accepting pay
ment by deductions from the monthly
payroll over the next twelve months.
Employees of the New York Life In
surance Company have already taken
100000 of the bonds. and they hope to
obtain a total of 100000 according
to Thomas A. Buekner, vice-president
of the company. He said that a con-
test had begun among the 5000 AmerI-
can statesmen to see who could place the
most orders for the bonds.
Vigorous Campaign Planned
Plans for conducting a vigorous cam
paign between now and June IS, when
the subscriptions for the loan close.
were adopted yesterday at meeting of
presidents of the forty-nine national
banks of greater New York in the
library Of the Chamber of Commerce.
Harvey d. Gibson, president of the
Liberty National Bank, who presided,
said:
at was estimated that only about
per cent in number of the depostors in
greater New York banks have put their
subscriptions into their respective
banks for the loan. An energetic cam
paign will Immediately be started to
bring the figure as near 100 per cent
as possible"
Beginning tomorrow afternoon vet
Grams of the Civil and Spanish-Ameri-
can wars will canvass the city in be-
half of the loan. Boy Scouts aim to
place appeals for subscriptions to the
bonds in at least 100000 homes.
A Masonic Liberty Loan committee
has been appointed by II. W. Thomas
Penney, Grand Master Of the lodge OF
which there are 225,000 members in
New York State. William Sherer, of Il
Cedar Street, is chairman.
Officers of the Pennsylvania Rail
road and it's affiliated lines cast OF
Pittsburgh and Erie, held a meeting in
Philadelphia yesterday at which final
arrangements were made whereby every
employe of the company will be given
an opportunity TO secure a Liberty
Bond on easy payment terms.