The sun. [volume] (New York [N.Y.]) 1916-1920, 1917-06-14
LOAN REACHES
$S5O,OOO,OO0 IN
THIS DISTRICT
Total Subscriptions of Ma
ton Are Estimated at
S1.82+.OOO.OOO.
TO HIT MARK TONIGHT
Purchases i'm New York Sec
tion Aggregate $l0O.OOO.-
600 Every 12 Hours.
CITY IS LEADER OF L. S.
Million Dollar Purchases Pour
In. With Small Bidders
Also Active.
TO HIT MARK TONIGHT
CITY IS LEADER OF L. S.

The New York Federal reserve dis
trict yesterday crept within $3.50. .000,-
900 Of the billion dollar mark. which has
been set as the minimum quota for New
York in the Liberty Loan. The wealth
OF the district poured into the commit
tee at rate probably unprecedented
in history. At tbe end OF the day the
total stood at $3.50. .000.o 900, which repre-
sented the minimum estimate by the
committee for this district. The actual
total probably passed that estimate by
many millions. however. as 1t was only
possible to give an accurate account of
the subscriptions received up TO noon.
BY tonight. II is the opinion Of the
Liberty Loan Committee. the $4,000, O00.-
900 mark for tine country will have been
passed. The total for the country reached
the r,s2i,O0o.O00 mark last night. ac-
cordng to semi Official estimates re-
ceived In this district. The total as
compiled by the Treasury Department
at noon yesterday was $l,65s,000. 900,
but 1t was not possible to include in that
figure a great part of the days subscrip-
tons, which were by far the largest
since the subscription list was opened.
The subscriptions in this district hit a
clip of more than $100.000.000 every
twelve hours. The committee resumed
counting in the morning with a total of
S7ij ij,0J0,000, and at the end of the day 1t
had compiled $77l.000. 900 OF applica-
t.ons, which included only those received
Ip TO noon. II made a minimum esti-
af 00n fnr a Of q
day. based on the-~s&s-<hs~bie-sas sasbscrip-
tons were coming in. For the reason
hat the res, Of the district outside OF the
city was not taken into consideration the
actual total probably exceeded by far
the estimate of the committee.
Now Leads Country.
In the work for the Liberty Loan New
York has placed herself ahead OF all OF
tfe other Federal reserve districts Of the
country. This was disclosed in the tabu-
lattons given out by both the local COM
mittee and the Treasury Department.
New York not only has exceeded all the
other cities in the volume of subscrip-
tions as was expected of it. but is the only
Federal reserve district TO have exceeded
Its maximum allotment which was
s750.000.000 AS the loan stands now
this allotment has been passed by $780,
900 900.
The outlook for the New York dis
tiict yesterday was that tho billion dol
lar mark would be exceeded by $780,
100000 at least, and possibly by three
or four hundred million. More than
s2oQ.o00,000 is to come from the State
outside of New York city, the twelve
northern counties OF New Jersey and
Fairfield county, Connecticut, which
compose the district. Some OF the
towns and cities of the State will not
NIL their allotment, according to the
present outlook. but others will over
subscribe their quota by 100 per cent.
The committee announced last night
that the total for the district outside
ot the city was ss3.e7s.Oo0 out of a
total allotment Of $2s3 900. 900. This to-
Ia is a gain of s21,O0O.000 since the
last list was made public. OF this to-
tai the eastern district Of the State has
subscribed s1SO12,000; the central sec
ton, sl5142.000; the western section.
s2o677,000; the twelve northern coun-
ties ef New Jersey, s34.750,00O. and
Fairfield county. Connecticut. H.sss.-
COO The majority of the upstate cities
have been holding their subscriptions
back and they are expected to fle them
to-day
Small subscribers Eager.
The rapidity with which million dollar
and over subscriptions flowed into the
Federal Reserve Bank yesterday over
whelmed all facilities for handling them
The committee itself was astonished at
the great volume. and some of the most
experienced bankers in the financial dis
trict declared that they had never seen
anything like it within their memory
Another feature OF the days applica
lions fln raGh Of II a,,ts ihar
Thousands OF wage earners and saIaried
workers bought $50 and 500 bonds on
the partial payment plan. Some OF them
were forced to wait In line for hours be-
fore they could place their subscription.
with only few hours remaining be
fore the books Of the Liberty Loan are
closed the drive TO raise the loan has
become night and day campaign
Members OF the committee, bond sales
men. and indeed every person connected
with the loan, are working night and dsv
for its success. J. F. Morgan Jacob
Schn. Frank A. Vanderlip, BENJAMIN
Strong, the loan committees chairman
and all other members are scrutinizine
every subscription announced now. so
that II anybody who might subscribe hs
neglected his duty he may receive a per.
sonsl call from these men to point OUT
the necessity Of doing his bit"
The committee will meet at the Fed
eral Reserve Bank to-day and to-mor-
row, remaining al the office until late
hours Of the night to discuss eleventh
hour measures. II these appear ncces-
sary. 1t will prepare list OF corpora.
tions. banks and individuals who can be
called upon to come forward at the las,
minute to subscribe the amount that re.
mains untaken. II this action become,
necessary. Arrangements have beer
made TO inform the committee hourly OF
what the district and a large part Of the
country are doing in connection with
the loan. The committee believes Il will
not be necessary to go to these extreme
measures. but II is preparing for any
event.
The last appeal to the public was made
last night at a monster mass meeting
held in Union Square. which was pre-.
eeded by a street parade. Led by an