Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-05-04
M'ADOO WIRES SEAY AS
TO LIBERTY LOAN ISSUE
Federal Reserve Bank to BE Agent
In This District for Sale
OF Bonds.
THANKS CLEARINGHOUSE
Telegraphs to $1,000 Banks, Asking
Them to Notify Treasury as Soon
AS Possible How Much VIII Be
Subscribed.

In a telegram to the Federal Re-
serve Bank OF Richmond. William q.
McAdoo. Secretary OF the Treasury.
suggests that local committees be ap-
pointed to assist In securing subscrip-
! tons to the $4,000. 100000 liberty loan.
At the same time. Secretary McAdoo
asks that the members Of the Rich
mond Clearing House be thanked for
offers OF their services and asks that
they cooperate with the reserve sys-
item. The telegram follows:
will you kindly convey to tho mem.
bcrs of the clearing ,house my appre-
citation of the tender of services
have received from them and beg them
to cooperate heartily with the Fed
cral Reserve Bank OF your district in
securing subscriptions to the $1,000
| 100000 3 l-2 per cent. liberty loan? l
think appointment OF local committees
to assist the Federal Reserve Bank
In It's work will be extremely helpful.
The amount of the Initial loan has been
determined by the needs OF tho govern
ment and not arbitrarily. II is impos-
sibie to meet the tremendous financial
requirements of our own government
and the allies in carrying on the war
with less initial subscription than
$4,000, 900. 600. The enthusiastic and
patriotic cooperation OF the banks and
bankers Of the country will guarantee
the success OF tho undertaking. And
have also sent the following telegram
TO every national bank. State bank
and trust company In tho United
States approximately 27.o0o in all:
Government will receive subscrip-
tons until June Is for $4,000 o0o, 900,
) IL per cent. liberty loan. You can
render invaluable service TO your coun-
try by receiving subscriptions and CO.
operating with Fedora! Reserve Bank
this and telegraph me. government
expense, soon As practicable rough
estimate amount Of bonds you think
Will be subscribed by your bank and
It's customers"
You Will he advised OF the results
by districts OF the estimates have re-
que stcd from the various banks.
(Signed) w G.. McADOO.
Secretary Of the Treasury"
SEAY ISSUES STATEMENT
As TO ISSUE or BONDS
Governor George !. Seay has issued
the following statement to all banking
institutions Of this district and to the
public In regard to subscriptions 10
the $500. 100000 Treasury certificates.
to be issued for tho Immediate financ-
ing of the
The following notification in the
form of a Telegram, from the Secretary
of tho Treasury has been received by
the Federal Reserve Bank of Rich
mond:
LAS fiscal agents Of the government,
ceivc subscriptions in your district for
an additional issue of 500. 000. 600 Of
per cent. Treasury certificates OF indcbt-
cdncss, maturing July u. TO be dated
May 10. on which date payments should
be made TO Federal reserve banks. Sub
scrip,iona will be accepted until 500
ZOO shall have been subscribed, and
then the subscriptions for this issue
will be closed.
tSigmedD "'W c. McADoO.
-,
nominations OF $1,000, $4,000. $4,000
and 100000. and arc for the immedi.
ate financing Of the government for
war purposes. and they will be received
at par and accrued interest in payment
OF war bonds bearing IL pcr cent
interest when issued. as announced by
the Secretary OF tho Treasury All
those who have the desire and the pur-
pose 10 subscribe to war bonds in
amounts covered by the ccrtincate,
should subscribe to these certificates
or Indebtedness
All subscriptions should be made
through the Federal Reserve Bank Of
Richmond and should he forwarded TO
US as promptly as possible.
Payments will be REQUIRED 10 h.
made TO this bank by the 10th instant.
and VIII be received in current bank.
ing funds
Formal receipts will he issued NV
us pending the delivery OF tho Trear.
ury certificates
Iho newspapers OF the district ar.
requested to give publicity to thin
issue Respectfully,
hEJRGE j. SEAY
Governor"