New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-24

! All 0OuDt AZ 10 RU' NuN'''' " w.
! Liberty Loan has been cleared away, AT
least in the minds of Wall Street men
A week ago bankers, bond experts and
| fnanciers generally had grave fears
that the bonds would not be fully SUBJ
scribed by the people and that the bulk
of them would find lodgment in the
banks. That fear has evaporated as
the nationwide campaign for the dis
tribution of the bonds has progressed
nd now Wall Street, which is in close
touch with the situation, believes that
the turning point has been reached ana
passed. 1t is confident the bonds Will
be popularity oversubscribed.
Though the first response 20 the
offering was disappointing. the work OF
the Liberty Loan Committee and OF
thousands of other organizations
throughout the country is producing re-
suits which clearly indicate the over
whelmng success Of the notation. Sub
scriptions already received reach vast
total. and they are pouring into the
banks and other agencies in steadily
increasing stream. Moreover. the num-
Der of small subscriptions is said to be
entirely satisfactory.
Among those who expressed confi-
dence in the outcome Of the campaign
Yesterday was Frank A. Vanderlip,
president of the National City Bank.
Asked by The Tribune for his opinion,
Mr. Vanderlip said emphatically that
the Liberty Loan was certain to be an
unqualified success. He added that sub
scriptions were coming in at rate
fully up to expectations.
Governor Whitman yesterday put IN
molten the machinery of the states de-
fence organization, the resource mobil-
izaton bureau, to inaugurate cam
paign for the sale of loan bonds in
every county. Each home defence or
ganizaton was urged to use every ef-
fort to promote the sale, and in ac-
cepting the offer Of the New York State
Bankers Association TO assist, the Gov
ernor asked the organization TO CO.
operate with the defence committees.
At meeting Of the executive COM
mittee o. The Associated Press yes
terday it was unanimously resolved to
transfer from the presnt investment
100000 of the emergency reserve
fund, an accumulation set aside for
extraordinary news events, to purchase
loan bonds.
To-day the 1000 United Cigar Stores
in the country will begin selling the
bonds to their employees and custom
ers. The corporation has already sub
scribed for 100000 of the issue.
Ten thousand individual subscribers
from his employees is the goal set by
Thomas A. Edison, who as his own
contribution to the national defence is
working night and day TO solve the u
boat problem.
Announcement Of a woman's Liberty
Loan committee for the Second Fed
eral Reserve District, with Offices IN
the Columbia Trust Company, 1858 Fifth
Avenue, was made yesterday. The
members are Virginia D. II. Furman,
chairman; Virginia Potter, vice-chair-
man; Mrs. Frank A. VANDERBILT. secre-
tary; Mrs. Charles A. Stone, treasurer;
Mrs. Otto Wittpenn, Mrs. Ebert H.
Gary. Mrs August Belmont, Mrs. Will
lam X. Vanderbilt, jr., and Mrs. IL. o.
Havemeyer.
At a luncheon given yesterday at the
Bankers Club by George b. Cortelyou
to representatives Of the public utility
corporations of New York and New
Jersey, it was decided TO adopt plan
which will permit the 100000 employees
of these corporations to subscribe to
the loan on the basis of 81 a week.
The marlborough Rapid Transit Com
pany offered free space in all their
cars for loan posters.
A series of MONDAY hotel meetings
TO boom the loan has been arranged
by the Liberty Loan Committee. The
first meeting will be held in the Bilt-
more at 12:45 to-day.
Statesmen from the financial district
are selling the bonds for use as we'd
ding presents.
Sheriff Rigelman is organizing 5000
deputy sheriffs into a loan committee
to scour Kings County.
A call to the Home Guards of the
metropolitan district to purchase bonds
was made yesterday by Herbert S.
Houston, chairman Of the National
Advertising Advisory Board.
Judge John r. Davies. of the Mu-
nicipal Court, has urged the other
judges of the courts to subscribe ex-
tensively.
Over 900 employees of the New York
Life Insurance Company have sub
scribed for more than 100000 of the
bonds with the company's help.
Every employe in the New York Of
fee Of the Lackawanna Steel Company
has subscribed for bonds, it was an
nounced yesterday.
The Mechanics and Metals National
Bank announced it had received SUBJ
toners.
Mrs. Jacob. II. Schiff has subscribed
for 100000 of the bonds. The New
Bedford Cordage Company has taken
100000. Haywood Brothers e. Wake
field, Of Boston, subscribed for $780,
600, of which $4,000 will be dis
tributed as an extra dividend to stock