New-York tribune., 1917-06-09
Ten Million Dollars of the
Subscription Is for the
Philadelphia House
Great Loan Rally
At Stock Exchange
Two Thousand Financiers
and Business Men Take
Part in Demonstration

j. =. Morgan & Co. yesterday sub
scribed S5O,OOO,O0O to the Liberty Loan
FOR themselves and Drexel & Co., Of
Philadelphia. The subscription of the
New York firm was S4O,OOOOOo and Of
I the Philadelphia house $1O,OOO.oOo.
Mr.. Morgan. i'm making tho announce
mcnt personally, made it clear that no
part of the total purchase included sub
scriptions from the firms customers or
clients He added that the Office or
canization had subscribed individually
/ down to the last man.
T The announcement Of the Morgan
3 firms subscription came as a climax to
a day of great activity in the financial
district in behalf of the loan. The
] feature was the big Liberty Loan rally
on the floor Of the Stock Exchange, al
which more than 1000 brokers, bank
] ers. business men and their friends
assembled to hear addresses by Dwight
/ L. Morrow. member of J. T. Morgan 4
Co.; Frank A. Nanderlip, president OF
the National City Bank, and Police
Commissioner Arthur Woods, who rep
resented the city.
Exchange Members at Front
II. G.. S. Noble, president Of the
Stock Exchange, who presided, said
that the exchange was already repre-
sented on the fighting line in France by
several members, whose numbers
would soon be increased by enlistments
in the United States army. In addi-
tior. he stated that Stock Exchange
firms had shown their enthusiastic ir-
dorsement of the stand taken by the
government by subscribing generously
to the loan, and by working to get sub
scriptions from their clients
Mr.. Morrow impressed on his hearers
the fact that this country will not find
it easy to raise the huge sums that
England and France have raised until
the sufFerings Of the war are brought
home to the American people.
"The United States hardly knows
that it is at war" ne declared when
It has known the suferings of the war
only then will it find it easy to raise
big war loans
Mr.. Morrow recalled that to the first
British loan Of 750,00O,OOO, there
were only 100000 subscribers, BUY 20
/ tho last loan of $4,000 OOOOOO, there
were 8.OOO.OOO subscribers, and that
each family in Great Britain is now
contributing.
"This isn't a jubilation meeting
said Mr.. Vanderlip. "The Liberty Loan
is not vet popularity subscribed ana
will not be unless lot OF nara worn
is done during the next seven days
T have faitn that it will be, however
because of my confidence in the ability
Of the American people to cope WIN
any emergency
Wall Street a Patriotic Spot
Mr. Vanderlip met with enthusiastic
snplause when he declared tnat there
Is no spot in America with more con, J,
contrated patriotism than m wal
Street Lo
at is because Wall Street has the
i-ragination Of what this war really
means that the loan is going TO be
erccess" he said. I'VE in Wall street
realize what the war has meant 10
France. Russia and England we real
ize that Great Britain can raise ohIy
food enough to supply itself for ninety
davs and Europe will need Dlii'o"
bushels of grain year. A.
Mr.. Vanderllp, in stating tna! I.e
country will find the greatest dlihcuIty
in raising its first loan, reviewed the
financing of Civil War days, wheh t,o
e,overnment had TO pay as high as ~
-, cont for some of its funds until
the National Bank Of Commerce ana
otber banks came TO the rescue. When
tbc mar was over, however, he pointed
ont that although the United states
o,,.oI es OO0 GOO 600. It's credit was Det-
tor than ever before in It's history
~ subscribing to the Liberty Loan
o,,t &C their future savings, Mr.. van
dcrlin said the American people woGla
f,d valuable recOmpense IN an euu-
cation IN thrift. iii
chat reports received by him thus far
sbowed subscriptions from pohcenen
Of $4,000.
Navor Appeals to Mothers
f a. .,otbo,. rally. held by the Ma
- Joeguc for Woman's Service, al
OK Madison Avenue. an appeal TO W.
a.L1~s Of the nation was made pE
Mayor Mitchell. ...ho .rc f,bt-
;,,, opr fight 10 20 properly cqulippeo'
,ronerlv fed and properly careu loI =.
fverv way. or DO you want then 10 o, 'I ho
fer for lack Of proper suppoI.G;, -,
IA "You can ask this question o'
- ,ootbers whose sons are golhE ~
Trs,ce That will be your best aIsu'
mont in selling these bonds. o.-
Otber subscriptions announced ~
.ordav were Thomas +. Ryan tn.Ou6" oa6
tbe Guaranty Trust Company. 90 nGo.
400. Mrs. N. Olivia Sage S'OJ'y!GS1, ,'!S,h
Eastman. Dillon & Co, S'Oo'OOV, .o
Avenue Bank. l,5OO,OoO, maHiRB a,,t
tal Of S4,jO000O thus iar 49, 49,
M of Cuba. 100000; StudeDdNei
pe..orst;on si 100000; Intern@uonal
poIpp' pop1 Comna,v. 100000; Midvaie
e.lo1 o,d Ordnance Company, S2,5OV'-
ooo. { II. Sanford. Sl,OOOOOOi ClaIh'
Dni,.c & Co. 81 100000; Atlantic
Wnt'lal Insurance Company, Sl,00O'0O0O;
GO Investing Company, SIOO,OVUt,
v1ior & Co. S5OO0O0; Charles H.
chin nresident Of the Guaranty Trust
Companv, $500. 900; Pennsylvania CoaI
.,d Coke Corporation, $Z9V'Ooo iot
benefit Of cmployes.
ne second days Liberty Loan cam
,.io,p Of the Bethlehem steel Corpora
,,no resulted in total subscriptions
from employee in the two days oi 80
Tbc subscriptions 10 the loan by city
and county employee 20 date amount 10