Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-06-16
Overwhelming Total

80 man could say at 10 o'clock to-
night how great had been the nations
answer. Apparently it was overwhelm-
Ing beyond the most sanguine hopes
Of treasury officials, though not one of
the Il federal reserve banks, regional
headquarters of the loan, could hazard
moro than an estimate of its total.
The Small Investor
In the countrys ringing answer to
tie call. the dominant note was the
voice of the small investor. His money
talked this last day of the campaign in
eloquent terms. The hope for a wide
spread response OF the average man
Vl'h the average income was more
t1an realized in the multitudes that
Ao, ked to the banks today. 1t ap-
peared tonight that all previous esti-
mates had gone by the board and that
nearly three million men and women
al bought the bonds.
night. officials hesitated to predict how
high the total would soar 1t mount
cd every hour to new heights and as
sumed such proportions that there was
ain apparent inclination to accept with
some allowances the rosy estimates of
.o'a Liberty Loan committees as to
INC totals of their districts.
A. the treasury a note of conserva-
tisr was sounded concerning these es-
Inmates. II was feared that the COM
n1if'ees flushed with success. might be
over optimistic and there was a mani
Test urwillingness to accept as final
anf estimates unverifed by actual
fahulations
Estimates by Districts
Estimates from the IL reserve districts.
some 81 them unofficial but mostly from
local loan committees. indicated late to-
rlgnf that the subscriptions might reach
ta, total of ., $50, 100000. These estimates.
which we're not vouched for as authorita-
I'VE at the treasury department. were as
follows
New York 1870. ooo.ooo. with the Ger.
tainty that the Offering would far exceed
!i.onooo0ooo
Boston sesS. 30o. 900 Official tabulation up
20 5P M
Philadelphia $500 ooo. 600 The compilation
II = NJ was sls5.ooo,ooo
Cleveland s2S4.ooo0f0. as estimated by the
chairman of the local committee after a
careful survey Of the entire district.
Richmond more than s1ooo00,Ooo
Atlanta s5oOno,noo estimated. with $685.
t.o. C1o tabulated
cAicago 1926 .ooo.ooo with scsc,oeo,ooo tab
ulated al 10 +. NJ.
81 Louis :sl,5ooooo, estimated upon re-
turns 10 the federal reserve bank
Dallas $50 600 estimated by the fed
eral reserve bank.
san Francisco 100000 estimated by
federal reserve bank. Tabulations at 40
+ ~ were s15o,oo6.coo.
Three Districts Fail
on the face of these estimates 1t ap-
reared unlikely that the total would
fall below $500. 400. 1t also appeared
that three reserve districts. Atlanta,
Kansas CITY and Minneapolis. would
fail below their minimum allotment.
McAdoos Statement
Secretary McAdoo announced the
subscription shortly AFTER the
closing of the books in the east
The Liberty loan has been over
subscribed" he said. 1t is Impossible
70 state the amount of the over-suo-
srrtption. but the exact figures VIII De
Given out as rapidly as the returns are
received at the Treasury department.
officials waited late tonight at the
Treasury for these returns put none
came in There were only estimates.
From every reserve bank the story was
mo samoa tremendous volume OF un-
tahulated returns.
r desire to express my deep ap-
rreciation of the efficient and patriotic
Continued on Page 2-Column %