The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1917-07-01
AS Temporary Substitute for
Bonds, Engraving of Which
Not Through Before August
BIG SUBSCRIPTIONS
WILL BE PRONATED
Every Subscription Under
$4,000 Honored in Full;
Rest, 20 to so Percent.
Washin gton Bureau,
Pensacola Journal.


treasury department has made all
preparations for placing i'm the hands
of the several million people who
bought Liberty Loan Bonds within the
next few days, interim certificates
of receipt of payment in full or in
part, which they are to hold until the
Liberty Bonds are ready for actual
distribution about the first week in
August
When the work Of engraving the
81 900 100000 worth Of Liberty Bonds
was first undertaken at the govern
ment printing office. here, Public
Printer Ralph, with force Of work.
ers about three times the regular
force employed there, estimated that
by June 28th enough of the bonds
would be finished to commence gen
eral distribution. Mr.. Ralph's esti-
mated was coneurred in by William
s Broughton, chief clerk Of the div
ision of loans and currency in the
treasury department who viii have
charge of the distribution Of the
bonds.
e. But after the work had gone along
some weeks it was found that pro-
gress was not so rapid as had been
contemplated. Today it was said at
the treasury department it would ~
at least the first week in August be
fore distribution can be begun.
But the subscribers to the Liberty
Loan are to be given interim certlf-
icates at once for payment in part
or in full on their holdings.
The federal reserve banks. acting
as the fiscal agents of the United
States, are now sending out letters
to each person who subscribed to
the loan, advising them of the amount
allotted to them, asking them in what
| denominations they desire the bonds
to be issued and informing them of
| the amount they should remit.
The letters being sent out by the
! federal reserve banks read as fol-
| lows:
Dear Sir Tor Madam:
According to the terms of treasury
| department circular No. rs, dated
Nav Ia, 1917, you are hereby notified
that upon your subscription for $
bonds of the Liberty Loan, author
| lied by act of congress approved
April %, 1917, you have been al
lotted S-of su~h bonds.
THE first installment to be made
| hereafter as set forth in the afore-
said circular is as follows:
"On June %, 1917, being 20 per-
cent of the par amount of bonds al
lotted s..
Less amount paid on application
'Your remittance should be $"
AS the total subscription to the
Liberty Loan was S3,035, 226,850 and
it has been decided to only allot ST.
100000 the loan is to be appor-
toned among the subscribers. giving
the small investors their full sub
scription and the larger investors the
smaller allotment.
Thus it has been decided to give
those who asked for up to including
$4,000 all they requested; those ask
ing over $4,000 up to and including
100000, sixty percent, but not less
than $4,000 bonds; those asking
over 100000 up to and including
$25O,O00, forty-five percent; those
asking S250,0OO up to and including
| 100000, thirty percent; those ask
ing over 100000 up to and includ-
ing $6,000,000 twenty-five percent;
those asking over S6,000,000 up to and
including $1O,OOO0OO twenty-one per-
cent; those asking S25, 900, 1922 per
cent, and those asking S25, $500
only 2017 percent.
Under this plan the person sub
scribing for any amount up to S10,-
900 will get all he asked for, and the
person asking for 100000 will only
be allotted 100000.
The federal reserve banks will then
mail to the subscriber the interim
certificate in receipt of the 20 per
cent or full payment on the allot-
ment made.
If the, subscriber does not make
full payment at once, but only 20 per.
cent on June 2Sth, he will be given
a certificate for that amount; another
certificate for 20 percent when the
next payment falls due on July 30
another for thirty percent on Aug
ust Is, and another for thirty percent
on August 30th. BY that time the
Liberty Bonds will he available and
the subxcribed will get his bonds tC