New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-16

render signal service of like character
., their government when il is called
upon again 20 seek an additional credit !
Il is os the utmost importance that the
splendid machinery now perfected shall
be available when needed"
This machinery. Mr.. McAdoo lndi-
Gated, will be utilized this fall in float
ing the second loan contemplated under
the $1,000. 00O, 900 war finance law. Mr.
McAdoo said he did not think there
would be another offering before faii'
Tho next loan hardly will be closed, II
IS thought. prior TO September 30, as
instalments on the present loan VIII
continue till August 30, and at least
thirty days probably will be devoted 10
the second campaign.
The exact measure of the country's
response TO the loan probably VIII not
be known until next week. In some
instances. notably at Minneapolis, ~
was estimated that the final count
could not be made till late tomorrow
night. This count will include only
the subscriptions received at the dead
lire hour of noon.
Thousands of subscriptions came too
late TO the Federal Reserve banks.
These, by Secretary McAdoo's instruc-
tions. will be tabulated separately and
the total forwarded to Washington.
Just what disposition will be made OF
them has yet to be determined. II Is
possible that where il can be shown
that their failure TO reach the Reserve
bank in time was due to no fault Of
the subscriber or the forwarding bank
some of them may be accepted.
Show Spirit of People
whether the subscriptions arc al
lowed or not. 10 is felt that they mani
fest the willingness of the subscribers
10 answer the governments call, and
should be shown in the total OF what
the American people offered to take;
The wide discrepancy between the
amount Of subscriptions received by
Federal Reserve banks up to Wednes-
day night and the final is explained
by the declaration that thousands OF
banks held back their subscriptions
until the last moment, and that hun
dreds of thousands of small investors
did not 90 10 the banks with subscrip-
tions until the last day. In this re-
spect the city Of Washington, II IS
thought, is typical.
Washington's outpouring Of fumes
totalled SlS,300,000 late to-day. wit
returns nearly complete, approximately
two and one-ouarter times the amount
Of its allotment Last night officials
thought that the city would show 3d.
600 individual subscriptions. The court
to-day carried the total beyond $1,000
about one person in seven, by popu-
lation-or more than $1,000 above what
officials hoped for, and an increase o.
10 per cent in the total number OF
subscribers in the last twenty four
hours.
Million Buyers in New York
in the Cleveland district it was esti-
mated that the number OF subscribers
would reach 100000. New York ex-
pected to show 100000 names. In
New England il was thought that the
total might approximate New Hork's.
Virtually every Reserve district re-
ported an Unexpectedly heavy increase
during the last twenty-four hours in
the number subscribing.
Every agency working for the loan
brought in host of subscribers. The
great employers of labor reported sub
scriptions by the tens of thousands
from the names on their payrolls. The
Boy Scouts enlisted nearly 100000 per-
sons, with a total .aggregating s9,736.-
500. The Woman's Committee brought
tens Of thousands to the banks. All
branches of the government responded.
The Treasury Department. with sub
scriptions totalling not far from $780,
00O. led the list. it is thought, in the
civil departments. What the army took
was not tabulated tonight. but the total
is estimated to be higher than expecta-
tons, with many thousands of sub
scribers.
A partial listing OF the subscriptions
turned in by the Navy Department and
the naval establishment showed 1860
subscribers, with a total subscription
OF nearly $4,000, 900. The Norfolk Navy
Yard. on the face of incomplete re-
turns, led the list, with ] $50 subscrib-
ers, although the clerks and other EN-
ployes Of the department, 1881 in num-
Der, topped the Norfolk total of $751;
600 by about $4,000.