New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-17

Evidence continues to accumulate
that the Liberty Loan was a great pop
ular success. This opinion is not only
held by prominent New York bankers,
but is indicated from reports thus far
received by the American Bankers AS
ISOLATION from its members in all sec
tions Of the country. particularly from
the so-called country banks.
Arthur NJ. Anderson, executive man
ager of the Liberty Loan Committee,
estimated that up 10 noon yesterday
subscriptions from the New York Fed
ersl Reserve District had mounted TO
1850, 100000, an increase of s20,000,-
900 over the figures given out shortly
before midnight Friday. Many of the
upstate figures are not included in this
estimate, Mr.. Anderson said, and a
complete tabulation will not be avail
able until tomorrow.
While the figures tabulated up to
noon yesterday by the general commit
tee OF the American Bankers Associa-
ton are still far from complete, still
they present fair index of what the
final returns will show. From $50 tele-
grams received from country banks the
indications were that 80 per cent OF the
loan was taken by individuals, institu-
tions and corporations. This means
that these banks themselves how hold
kn
with the prospect of further distribu-
ton to the public through continued
efforts Of the banks to sell their own
bonds.
Banks Subscribe Ss00,000,000
The average subscription of each
country bank, according to the assocla-
ton, will be approximately $4,000. 1t
is estimated that the total subscrip-
tions obtained by the banks working
under the direct instructions OF the
general committee have aggregated
Ss00000.000
The association is working on tab
ulation which will show what it has
cost the member banks in their cam
paign to sell the Liberty Bonds.
rough estimate now places this figure
at Sl,500.000, exclusive OF the time
given without charge TO the govern
ment by the great army Of bank OFF,
Gals and their clerks in helping to
make the loan a great success.
Arthur NJ. Anderson, executive man
ager of the Liberty Loan Committee,
estimated that up to noon yesterday
subscriptions from the New York Fed
eral Reserve District had mounted to
S1.O5O. 1000, 900, compared with $780,
m 1ot NJ oh
MANY of the upstate figures were not
included in this total, he said, and the
complete tabulation will not be ready
until tomorrow.
Praise for Newspapers
"To the newspapers, the bond and
other houses in Wall Street, the banks,
the committee and the country owe
great debt of gratitude" Arthur NJ. An
derson. executive manager of the local
loan committee, said yesterday. The
great army of volunteers, the Boy
Scouts, the suffragists, the flying
squadrons of statesmen, department
stores and others, all responded nobly
TO the emergency.
"Only the other night when the sub
scriptions from some of the outlying
districts were not UP to expectations,
corps of statesmen Communicated ABOUT
fifteen automobiles and went out to
these districts and sold bonds. Dozens
of farmers were aroused out of bed as
late as o'clock in the morning.
until to-day the Corn Exchange
Bank had tabulated 10000 subscribers
10 the Liberty Loan. To-day 10000
additional subscriptions were added
There still remain about 1000 more
subscriptions, making total of $4,000
This represents about one-third of the
banks depositors. More than $4,000 OF
these subscriptions were for $50 and
500 bonds. This gives clear indi-
cation of the part the workingman
played in floating the loan"
Asked how the New York City quota
Of s1,000,00O.000 was arrived at Mr..
Anderson stated that all of the incor-
porated banks in the Second Federal
Reserve District had capital, surplus,
undivided profits of $4,000, 900, 900; the
district. therefore, was allotted by the
Liberty Loan Committee about one
sixth Of this total.
Bonds Sell at Par
There was no evidence of any at
tempt to depress the price Of the Lib
erty bonds on the Stock Exchange yes
terday as result of the criticism
heaped upon those who sold blocks on