Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-06-10
ASKS DISTRICT BANKS
i TO INVEST 100000
Controller Williams Expects Large
Subscription, He Tells Officials.
Raises Capital Quota.

John Shelton Williams. controller of
the currency, summoned representa-
tfves of all the banking institutions in
Washington to his office yesterday aft
ernoon and delivered what proved to
be the most effective and productive
address on the liberty bond loan that
has been made before any organiza ton
in Washington or probably anywhere
else.
Thirty-eight representatives of banks
were at the gathering. being a very
full representation of the District
Bankers Association. and the meeting
was presided over by MFR. Williams.
Mr.. Williams expressed the desire of
the government and of himself to have
, the capital set an example for the rest
OF the nation. declaring that this was
the. time for the bankers to come to the
governments aid and announced that
The expected subscriptions from the
banks of Washington to an amount
equal to per cent of their resources"
and indicated that he would keep close
watch on the subscriptions and
amounts.
On the basis suggested by the con-
troller of the currency. which will
probably be adopted by all the banks.
Washington's allotment of liberty
bonds Is at once raised from s10.0o0.-
900 set by the liberty bond committee.
ment: to s1s.000,000. the 100000 rep
resenting per cent of the resources
or the banks of the city.
Liberty Bonds Safest Investment"
Mr.. Williams said that liberty bonds
are the safest investment that could
possibly be made for the stockholders
ana depositors' money. and declared
that the bankers would have no trou
Die getting all the money needed to go
through with their subscriptions the
Richmond bank of the federal reserve
system would make all advances needed
on liberty bonds al per cent on short
term paper"
About the only question asked of Mr.
Williams was one as to whether or not
the profits through interest on liberty
bonds were taxable under the District
law by which all banks pay per cent
on gross earnings in lieu of all per-
sonal taxes. Mr.. Williams replied that
he believed not. although on this point
there seemed to be some little doubt
among the bankers.
In closing his remarks Mr.. Williams
urged that the banks remain open
Monday. Tuesday. Wednesday and
Thursday evenings. and that they make
free Use of the newspaper advertising
space. separately and through the local
liberty loan committee. and the asso-
citation then and there approved a reso-
luton giving The committee needed
funds and the bankers agreed to adver-
tise.
Assistant Secretary Crosby also ad-
dressed the assembled bankers, urging
them to furnish reports of all sub
scriptions prompetly each day to the
Richmond regional bank, so that the
business of the institution would not
be cluttered up by a rush of subscrip-
tins at the last moment.
Mr.. Crosby also urged the greatest
effort on the part of the banks them
selves TO make the big loan great sue
cess. and spoke in a congratulatory
manner of the educational campaign
that has been carried on by the liberty
loan committee throughout the city.
1t was resolved to keep all banks in
Washington open until 9 o'clock in the
evening tomorrow, Tuesday. Wednesday
and Thursday nights of this week in
the final mighty effort to make the Dis
trict's subscriptions meet the expecta-
lions of the government and to set a
pace for the nation. working for the
largest per capita subscriptions.