New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-24
500, 900, OO0Yesterday's
Loan Total in New York
Subscriptions Here Now Aggregate $s15 100000, Which
Is $685., 100000 Short of Goal-U s. Steel
Corporation Took Days Honors

pected 10 increase the total Of sub
scriptions on their books materially be-
fore the campaign closes Saturday.
The advertisement, signed by leading
banks, which has been appearing not
only In this city, but throughout the
country, urging the public 10 borrow 10
buy Liberty bonds and Offering to lend
money for that purpose at per cent
interest, has. according TO members OF
the Liberty Loan Committee, had good
effect in stimulating subscriptions.
The adoption OF this plan, il is pointed
out, makes it possible for many per-
sons to subscribe who might not have
responded because Of lack Of ready
money or because their available cash
is tied up in business ventures or other
investments which could not be liqui-
dated on short notice without great
sacrifice.
The public also has become more IA
milar with the plans for buying bonds
on instalment which have been put
into effect by most Of the large corpo-
rations and the banks generally, and
the aggregate Of such subscriptions 70
be reported in the next few days will,
II is predicted, run into a large totai.
Hesitancy on the part Of the officers
and trustees Of some savings banks 70
enter subscriptions for their own ac-
count caused George I. Skinner, Super
intendent Of Banks for New York State,
to send out the following letter yester-
day:
az am informed that, notwithstand-
ing previous communications and the
undoubted patriotism Of their officers
and trustees, some OF the savings banks
Of the state are hesitating 10 subscribe
for Liberty Loan bonds to the exten.
TO which they might otherwise do
through their feeling that they must
conserve their cash resources In order
TO meet the demands Of depositors who
may withdraw their money TO pay for
Liberty bonds subscribed for by them
from the same patriotic motives.
Protection for Savings Banks
at is, of course, desirable for the
savings banks, wherever possible, TO
induce their depositors TO borrow the
funds necessary to pay for Liberty
Loan bonds from their future savings
rather than use their accumulated cap
ital for this purpose. but, II any saw
ings bank should be Inconvenience BY
the demands of its depositors for funds
for the purpose indicated, the banking
law of this state authorizes such saw
ings bank TO borrow money and 70
hypothecate securities for the purpose
of obtaining loans to meet such with
drawals. It Is almost needless 70 say
that the approval Of the Superinten-
dent OF Banks will be given freely
whenever application is made In ac-
cordance with the provisions Of the
statute"
Members of the italian aircraft mis-
sion. who will fly over New York to-
dav dropping Daper bomb warnings
TO the people to buy Liberty bonds,
were present at the MONDAY meeting
of the Liberty Loan committee, at the
Sub Treasury, which was attended By
a crowd so large as TO block traffic IN
Wall and Broad streets. General
Emilio Guglielmotti. in command OF
the mission, made an appeal to the
crowd to do their duty as the men at
the various war fronts are doing theirs.
John F. Harris, Benjamin Strong Mar
tin and others in turn made vigorous
talks urging their hearers TO buy
Liberty bonds.