Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-06-15
Every Federal Reserve District
But Two Appears to Have
Exceeded Quota.
ATLANTA AND KANSAS CITY
RETURN SMALLEST SUMS.
Avalanche of Eleventh-Hour Sub
scriptions Swamps Tabulators
in All Large Cities.

The liberty loan has been trenen-
dously oversubscribed. When the books
closed at noon Treasury officials esti-
mated that the total would reach at
least s2,5oo. .ooo, 900 and might soar to
50. .oo0. 900. 900.
tho possible exception of Atlanta and
Kansas City. appeared Ia have exceed
ed its minimum allotment Reports
from these two districts were slow in
coming in. With thousands Of banks to
be heard from in tho two districts.
however, 1t seemed likely that tho mini
mum allotment would be reached in
each case.
Avalanche Of Subscriptions.
Reports by telephone and telegraph
an avalanche Of small subscriptions at
the last moment Scores Of small in
vestors were standing in line at hundreds
Of banks throughout the country during
the final hour. The small subscriber ap-
parently had responded with an enthu-
siasm that exceeded the most sangline
hopes Of officials.
Swelling tho huge total by millions como
the belated subscriptions Of the banks
that held back till the last moment The
clerical forces Of virtually every reserve
bank were practically buried under
landslide Of eleventh-hour subscriptions.
Hours to Tabulate Totals.
total subscription may not be known
for many hours. The full magnitude Of
the country's response. even. may not
be measured for several days. Thou
sands of belated subscriptions. 1t Is
feared. may not reach the reserve banks
till after the deadline of noon. stand
ard local time. and these must be in
cluded in making up the full totals
showing the nations response. Mil
lions Of dollars. 1t was estimated, were
and state banks and trust companies
on behalf Of their customers. to the
federal reserve banks. This great
transfer marked the measure Of the last
minute response Of the small investor.
as the banks had forwarded the bulk of
earlier subscriptions by mail.
-Four Districts Take Loan.
Four banner districts-New York.
Chicago. Cleveland and Boston-ap-
peared. on the face of returns at noon,
to have subscribed the full s2.o0o.o00.-
900 offering alone. New York, as was
expected. led all other districts by a
margin Of more than double the next
highest. This estimate was made on
the basis of reports an hour before tho
books closed in the east
San Francisco started the day with
a sensational advance from its previous
report Of s52.000.000. The first thing
officials heard this morning was that
instead Of being. approximately. $685.
100000 under it's minimum allotment.
and probably would take its quota.
In the Dallas district the figure stood
at s29.000,000 when the day started
s11. 100000 less than the minimum allot-
ment. There were then more than 1000
banks to be heard from. 1t was thought
their response would easily swell the
total to the minimum Of s4o.0oa,000.
Apparent failure Of the Kansas City
and Atlanta districts to reach their
minimum. based on early reports re-
fected. oflcia!s believed. the failure Of
the cotton farmers Of the south and the
wheat growers OF the west to respond as
fully as 1t had been estimated they
would. 1t was pointed GU that in each
their crops. and therefore are not in as
strong a position to answer the call as
they will be after the harvest.
Industrial Centers Respond.
Districts IN which are located the
great Industrial plants OF the country
reflected a tremendous demand for the
so-called baby bonds. The $50 issue
will be by far the most popular. 1t is
believed. The total number OF sub
scribers to all denominations. 1t was
estimated. win exceed 100000: This
Is ten times the number OF persons In
the entire nation who hold securities
of any other sort
The small investor, officials declared to-
day. is to receive the full amount Of his
subscription Every $50 and 800 bond
subscribed for. it was said. is to be is
sued. This presages a widespread par
ing down Of great Individual subscrip-
tons
Every community flying the American
Islands. subscribed to the loan Fair
banks Alaska, the most northern town
on the continent. sent generous sub
scription. From the Panama Canal Zone
subscriptions totaled $3.50, 600.
Secretary McAdoo Happy.
Secretary McAdoo announced the
oversubscription Of the loan in the fol-
F.! lowing statement:
| THE liberty loan has been oversub-
/ scrtbed- 1t is impossible to state the
amount Of the oyersubscription at the
moment. but the exact figures will be
| given out as rapidly as the returns are
received at the Treasury Department.
The success of this loan is a genuine
! triumph for democracy. 1t Is the un-
mistakab BILE expression of Americas de-
! termination to carry this war for the
protection of American rights and the
accomplishment Of peace and liberty
throughout the world to a swift and
successful conclusion.
II am deeply grateful to the bankers
CONTINUED on Second Page.)