New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-12
Workers Ready
To Push the Sale
Of Liberty Loan
Bankers and Bond Dealers
to Canvass New York
Reserve District

With the organization Of additional
subcommittee completed yesterday
the Liberty Loan Committee appointed
to handle the distribution and financing
Of the $4,000, 100000 war bonds offered
by the Treasury Department Will send
out its men to-day TO all sections Of
tho New York Federal Reserve district
for the purpose OF setting in motion
the machinery to bring in subscrlp-
t!ons from the public.
These men. consisting of bankers and
investment dealers. have been divided
into five committees of five members
each to work in Eastern New YORK
New York City excluded, Central New
York. Western New York. Connecticut
Fairfield County,. and that part oil
New Jersey which is in the second ke'
serve district.
To aid in this campaign. Benjamin
Strong. ir.. governor Of the New YORK
Reserve Bank. has sent letters to All
Incorporated banks in the district re-
questing them TO cooperate IN the Tor
nation Of local committees.
In this city committees have been
formed to urge the cooperation Of trust
companies, savings banks, retail mer-
chants and department stores, national
banks. state banks. Stock Exchange
firms, newspapers and trade publica-
tions. religious and fraternal organiza-
tions. railroad companies. industrial
concerns and express and insurance
companies.
The function Of the different com
mittccs with regard to trust companies
national and state banks is to cncour-
age the organization Of departments to
place the bonds on sale over the
counter. including the offer to carry
bonds under q partial payment plan.
It has been deemed uuwise TO encour-
age circularizaton Of existing depos-
itors Of savings banks. but it is felt
that each institution should attempt 20
divert new deposits into the loan.
Partial Payment Plan Urged
Retail merchants, department stores.
public utility enterprises, railroad and
industrial corporations have been ad-
vised % work out definite partial pay
ment plans for submission TO their en-
ploycs. IT. this connection the Federal
Reserve banks are giving serious con
sideration TO a scheme for making
special discount rate OF 81 Der cent
available to any member bank on
customers note secured by government
bonds. so that an employer of labor
could carry such bonds without loss.
il has also been suggested that large
employers of labor attempt to make
payment % salaries in part through
small denomination bonds or certlh-
Gates of interest therein, so that man
receiving. say, $500 a month could agree
to take $50 each month IN bonds and
the balance iu cash II Is pointed out
that insurance companies might organ
izc their outside force 20 receive ad-
vertising matter on the loan and give
out publicity through the various
branch offices and to receive subscrip-
tions.
The newspapers and printing trades.
it is urged. could work in conjunction
with the publicity committee in its
campaign. It is planned to follow up
the religious and fraternal orPaniza-
tions and women investors through
various organizations and clubs, using
women representatives in the latter
class. Private investors, it is planned,
will be canvassed through classes
divided into the principal professions
and trades