Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-06-16
AMERICAN PEOPLE
FAROVERSUBSCR|BE
TWO BILLION ISSUE
Dominant Note Declared to
Be That of Small
Investor.
NEARLY 100000 MEN
AND WOMEN BUY BONDS
Government Officials Hesitate to
Predict How High To-
tai Will Soar.
ONLY ESTIMATES AVAILABLE
Stands I'm Class by Itself as Any Ma
tion'S First War
Offering.
ONLY ESTIMATES AVAILABLE

WASHINGTON. June 1.-THE Amer
crnment's call for funds to finance the
war with an oversubScription to the
10000 100000 Liberty loan OF propor-
tions SO huge that officials are buried
turns. Z.
No man could say at 1c-~oclock to-
night how great had been the nations
answer. Apparently it was over
hopes Of Treasury officials. though not
one OF the twelve Federal reserve
banks. regional headquarters OF the
loan, could hazard more than an esti-
mate OF it's total
In the countrys ringing answer to
the call the dominant note was the
voice OF the small investor. His money
talked this last day of the campaign
jn eloquent terms The hope for
widespread response of the average
man with the average income was
more than realized in the multitudesG
that f1oclked to the banks to-day. It
appeared tonight that all previous csti-
mates had gone by the board. and
that nearly 100000 men and women
had bought their bonds.
In the absence OF official figures to-
night. officials hesitated TO predict how
high the total would soar. 1t mounted
every hour to new heights. and as
sumed such proportions that there was
an apparent inclination to accept with
some allowances the rosy estimates OF
local Liberty loan committees as to the
totals OF their districts
NOTE OF CONSERVATISM
SOUNDED At TREASURY
At the Treasury a note Of. conserva-
tism was sounded concerning these esti-
mates. 1t was feared that the commit
tees, flushed with success. might be
overoptimistic. and there was q mani
fest unwillinSness to accept as final any
estimates unverifed by actual tabula-
tons
Estimates from the twelve reserve
districts. some OF them unofficial. but
mostly from local loan committees in
dicated late tonight that the subscrip-
tions might reach the total OF $780,
100000. These estimates. which were
not vouched for as authoritative at the
Treasury Department were as follows:
New York. $1,000, ,0OO,o 900. with the
certainty that the Offering would far
exceed s1.0O0.00o. 900.
Boston. $263.3OO,o0O (onicial tabula-
ton up to P. NJ.
Philadelphia 5000. 600. 900 The COM
pilation mt p. NJ. was Sl65.0Oo.000 =.
Cleveland. s2S4.6o0. .ooo as estimated
by the chairman OF the local commit
tee. after Il careful survey OF the entire
district.
Richmond. more than 500, ,00o, 900.
Atlanta, more than $1,000. 900.
Chicago, 325,o0O.O00. with s2so,00o,-
900 tabulated at r. NJ.
ST. Louis. ssl.5oo,0oO. estimated upon
returns to the Federal reserve bank.
Kansas City, s9o.0oO.0Oo. estimated by
the Federal reserve bank
Minneapolis. $4,000. 900. estimated by
Governor Wold. of the Federal reserve
bank
Dallas. s47.ooO.0OO. estimated by the
Federal reserve bank.
San Francisco Sl6o.oOO 900. estimated
by Federal reserve bank. Tabulations
1T 1880 p. NJ. Sl50o0o. 900
TOTAL NOT LIKELY TO FALL
BELOW S2.80O, 900, 600
On the face of these estimates II an
peared unlikely that the total would
fall below 00Ocn. 0oo 1t also ap-
peared that three reserve districts-At.
lanta, Kansas City and Minneapolis
would fall below their minimum ailot.
ment
Secretary McAdoo announced the
oyersubscription shortly after the clos
ing OF the books in the East In tho
following statement:
The Liberty loan has been over
subscribed. 1t is impossible TO state
the amount OF tho oversubscription at
the moment. but the exact figures will
be given out as rapidly as tho returns
are received at the Treasury Depart
ment.
The success OF this loan Is a gem
u!ne triumph for democracy. It ia the
unmistakabie expression OF Americas
determination to carry this war for the
the protection OF American rights and
tho re-cstablishment OF peace and lib-
erty throughout the world to a swift
and successful conclusion.
II am deenly grateful to the bank.
ers. tho business men. the women of
America. the patriotic organisations.
and the people generally. without whoxs
cordial cooperation and enthusiastic