The Ronan pioneer., 1917-05-25
BANKS TO SELL
LIBERTY BONDS
HAS DIVIDED MONTANA INTO
EIGHT DISTRICTS TO FA-
CILITATE SALES.

Banks Throughout State Will BE
Used as Receiving Stations for Sub
scr'ption; Committee Expects Mon
tana Subscription to Reach at Least
-Four Million Dollars.
Bankers and business men will
take hold of the sale and distribution
or Liberty bonds, with a vim. as a
result OF a meeting at Helena of the
executive committee for Montana, ap-
pointed by the federal reserve bank
OF the Ninth District. N, B. Hotter is
chairman.
Ihe committee, after dividing
Montana into eight districts, appoint
cd chairmen for each district COM
mlssloned to arrange a committee to
obtain subscriptions.
The state is expected to raise ST.
$4,000 as it's share of the bond issue
of $2,000,000,00O. That is can be
done was the confident belief of ey-
cry member of the executive commit
tee in attendance. About $1,000, 900
has so far been subscribed in Mon
tana.
The plan adopted by the committee
to have the chairman of each district
cooperating with the banks in every
county secure subscriptions taking a
large part of the bonds. Each of the
banks with their customers are ex-
pected to raise at least 25 per cent
of the capital stock. That many will
subscribe for much more is certain
and it is the belief that so far as
Montana is concerned, it's patriotism
will not be called into question, when
the time for subscribing for the
bonds has expired.
The only reason why subscrip-
tions have not been more general is
because of the report given wide cir
culation by eastern publications that
the issue was likely to be heavily
oversubscribed, is the belief.
Letter to Bankers.
Banks throughout the state will be
generally used as receiving stations
for subscriptions. AS will be seen
by the following letter sent out by
the executive committee to the banks
the latter as we'll as their customers
will be expected to subscribe:
The federal reserve bank of the
9th district acting as fiscal agent
for the United States government,
has appointed the undersigned as an
executive committee for the state of
Montana and has called upon this
committee to put forth it's utmost ef-
forts to procure subscription from
the state of Montana to the Liberty
loan and has indicated to us that the
proper proportion to be subscribed
by the state Of Montana is $780,
600. We desire to direct your at
tention to the fact that during the
first two days that subscriptions
were being taken to this loan the
press throughout the country circu
lated the information that there was
possibility that the loan would be
greatly over-subscribed.
Undoubtedly this resulted in caus.
ing many persons who would other
wise have subscribed cheerfully tc
neglect to make their subscription
feeling that such subscription would
not be necessary. At least. the eff
feet has been that subscriptions to
this loan have almost totally ceased
and it is now apparent that unless
an effort is made throughout the
country that the subscription will
fall far short of the $4,000, 1000
now proposed to be issued.
AS far as we are able to ascertain
not to exceed 100000 has as yet
been subscribed in the state of Mon
tana. The report of the superinten-
dent of banks of the state of Mon
tana shows that the capital of the
state and nationad banks of Mon
tana exceed $16,000,O00. If each
of the banks of this state will pledge
themselves to secure subscriptions
from it's customers in an amount
equal to 25 per cent of it's capital
stock, this will raise a sum in ex-
cess of $4,000,000.
We are confident that large cor
porations and individuals will make
subscriptions sufficient to make up
the balance of Montana's apportion-
ment. We trust that every bank in
the state will, upon it's own behalf
and for it's customers, subscribe an
amount equal to at least 25 per cent
of it's capital stock.
Make the subscription direct to the
federal reserve bank of the 9th dis
trlct, Minneapolis, MIMI, but you are
further informed that this committee
has districted the state Of Montana in
accordance with the statement here
with inclosed and you are requested
to Immediately report all subscrip
tions which you have heretofore, or
may hereafter make to the chairman
of your district, SO that this commit
tee may be kept fully informed as to
the amount of subscriptions that are
being made in this state.
In conclusion, we desire to say
that this committee is profoundly
impressed with the Importance of
this great work and we trust that
when the returns are in from this
state that every citizen of Montana
shall have reason to be proud of the
generous response Of our citizenship
to this call of our country.
Increasing Income Tax.