Evening star., 1917-05-24
LOCAL BANKSAUN|T
FOR THE LIBERTY LOAN

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Washington bankers have decided
that the liberty bond is good enough TO
stand alone and on it's own merits
At a meeting Of the District Bankers
Association held last evening 1t was
decided that the banks OF the CITY
would carry the installment buyer OF
$50 or 500 bond for ten months, pay
ments to be made monthly, and the rate
Of interest charged the buyer will pc
az per cent-exactly the same as the
rate Of interest which the bond bears
and a lower rate than any individual OF
corporation has ever before borrowed
money in Washington.
But the installment bond buyer also
receives interest on the money ne de-
posits and pays only on the deferred
payments, so ths-t. he is really paying
much less than the rate carried by the
bond itself.
Under these conditions, bankers con-
tend. there is small excuse for
Stacker" in the field of patriotic in
vestment. for the purchaser not only
receives a government bond, but gets a
share of the interest. 1t is up to the
wage Garner to do his Bit" they say
larger investors in making the great
loan success.
Charles ]. Bell, president of the
American Security and Trust Company,
sembled bankers and his motion was
carried with hurrah.
The plans of the liberty bond COM
mittee. as announced by The Star yes
terday, were made public at the meet
ing. and a number of speakers OBJ
tained for the various "push-the- bond
sale" meetings. which are to be held
at nearly all important gathering
places Of people.
This morning the Riggs National
Bank opened its liberty bond depart
ment in the front offices of the bank
ing rooms adjoining the bank on the
Johnson & Co. and will start an ad-
vertising campaign and devote the
services of a part of its office staff
to answering Inquiries anent the lib
erty bonds. soliciting subscriptions and
accepting orders for the same.
Virginia Banks in Line.
The banks of Virginia have adopted
the installment bond sale plan of the
Metropolitan National Bank, which
eliminates the making of a note and
calls for the payment of $3.50 for
twelve months, or S102, in all. after
which the buyer will receive the $100
liberty bond and $3.50 interest.
Frank A. Vanderlip. president of the
National City Bank Of New York, has
announced the intention of that insti-
tuition to carry $100,000,000 of the lib
erty bonds for customers on the install
ment plan at X per cent. Six months
money is ~ to per cent in New York
city, which evidences the fact that the
banks are making material sacrifices
in their aid to the bond sale.
How Bankers Association Helps.
The American Bankers Association
has been back of the liberty loan from
the date of the original announcement
concerning the issue.
The association has urged banks all
over the country to line up with the
movement and has received assurances
that it's requests are being complied
with. Members in various sections
have been asked to furnish information
Of any bank negligent in its duty. with
the promise that the gums of the as
ISOLATION will be turned on the re-
calcitrant
The organization has advised bank
ers Of the true situation with regard
to the loan; has urged participation;
has mailed out booklets giving the text
of the law; has had a sermon prepared
by Rev. Newell Dwight Hills for use
Of clergymen in bringing home the loan
to attendants on services; suggested
forms of advertisements for local pa
pers: suggested plans for employers in
calling meetings of employees to induce
them to subscribe.
The organization has arranged with
DIR. Hills and Lawrence Chamberlain.
the latter universally recognized as an
authority on bonds, to tour the United
States to induce. from the platform,
subscriptions to the bonds.
"A liberty bond in every home," is the
slogan Of the association. =
RAILWAY MEN TO BUY BONDS.