The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1917-05-04
Western Montana and First
National Asked by Wire
to Cooperate.
APPLlCK ATOMS MADE
TO PURCHASE BONDS
Several Customers Ready to
Loan Their Money to
Government.

Subscriptions for the two billion
dollar bond offering with which the
government will redeem the first cer-
tificates Of Indebtedness issued to
cover loans to the allies will be re-
ceived by Missoula banks today. Sec
Tetary w. G. McAdoo yesterday tele-
Eraphed to all Missoula banks, author
izing them to receive subscriptions,
asking them to cooperate with the
federal reserve bank and calling FOR
rough estimates Of the amount which
will be subscribed here.
In accordance with these instruc-
tioas pan Missoula banks win receive
subscriptions today. The bonds are to
bear 3la per cent interest. BY selling
them, the government will redeem the
certificates of Indebtedness offered inn
1nediately after the passage Of the bill
authorizing the 7,0O0,OO0,0OO bond is
sue.
some subscriptions. J. II. +. Ryman
Of the Western Montana National
bank said yesterday that several Gus.
toners had applied for bonds.
MeAdoo's Message.
To all clearing house associations in
the country, Mr.. McAdoo sent the fol-
lowing telegram:
G"Will you kindly convey to the men,
bers of the clearing house my appre-
citation of the tender of services !
have received from them and beg
them to cooperate heartily with the
federal reserve bank of your district
in securing subscriptions to the $2,-
O00,000,000 3k per cent loan. l think
the appointment Of local committees to
assist the federal reserve bank in its
work will be extremely helpful
To the federal reserve banks, upon
which will fall tho heaviest amount of
detail work in connection with the flo
tation of the issue, Mr.. McAdoo sent
kilograms notifying them that the re-
suits Of the estimates asked for would
be placed at their disposal
The result of the first announcement
Of the loan has been deluge of sub
scriptions. aggregating many millions.
Virtually every large city and every
the hundreds of messages which be-
gan to come early in the day to the
treasury department and which poured
in with increasing volume till the Of
fices closed.
Negotiations continued today with
representatives of the nations to which
the United States is extending credit.
Count di Cellere. tho Italian ambassa-
dor. received the full amount of the
first $100,000.00O loan made by this
government to Italy instead of the In
stallment of $25.0O0,000, which had
been agreed upon tentatively few
days ago. 1t Is understood that the
change was made upon representa-
tions that the needs of Italy would. be
served best by transfer of the en-
tire amount at once. The money was
paid out Of proceeds of the first offer
ing OF treasury certificates OF indebt-
cdness and other funds in the treas
ury.
Subscriptions to the second offerings
OF treasury certificates were received
during the day by the federal reserve
banks. Indications are that the secre-
tary will issue an announcement short
ly as to the size Of tho second offer
ing and call for the proceeds within 9
week, possibly a few days.
The $10O.000.000 loan to France, an.
nounced by Mr.. McAdoo a few day:
ago. will be turned over to Ambassador
Jusserand in whole or in part within &
day or so.