The Washington herald., 1917-05-08
TOUR MAY BOOM BONDS
CONTINUED FROM PAGE ONE.
offering well over the $500, 900 mark,
it is believed by Treasury officials.
Work on Advertising.

offering well over the $500 900 mark,
it is believed by Treasury officials.
Work on Advertising.
With the subscription to the liberty
| loan now going smoothly forward, Treas
! ury officials worked on details Of the
great advertising plan which is to make
up the 5000, 100000 loan by attracting
peoples savings out of their pockets for
the benefit of the governments war
needs
| The. government accepted the offer OF
| o. J. Guide, of New York, to build the
J biggest electric light sign in the world
at Broadway and Forty-second street,
New York Citys busiest crossing SINH
lar signs in such popuIous places as
Atlantic City and Chicago also are eX-
| pected to be provided.
The Treasury has enlisted the aid OF
the Postofiice Department. in advertising
the liberty loan, and plans are now being
formulated for the placing of bond ad-
Nertsing on each of the 100000 postal
letter boxes in the cities Of the nation
Postoftice cancellations also are TO bear
legend advertising the war bonds, and
Autographs are to be hung in all post
offices drawing the attention of the pub
lie to the governments need for war
funds
Each Of the GO. 900 vehicles used bv the
postoffice is to be adorned with posters
advertising the issue and letter carriers
and rural mail delivery men are to dis
tribute literature calculated to attract
war bond purchasers.
Senator Williams Aids.
Senator John Sharp Williams. OF Mis-
sssippi, sent the Treasury a check for
H4OOO as a war bond subscription yester-
tday and a 100000 subscription came
from a former Senator. other men in
public life also are subscribing substan-
tial amounts.
Secretary McAdoo is much pleased with
the success the issue has met so far
He pointed out last night that the pub
lie must keep behind the issue and con-
tinue their support, a some of the fig
ures published do not yet represnnt Ar
tual subscriptions, but advance offerings
and estimates from banks as 10 what
they can distribute.
New York City still stands at the head
OF the list OF cities for magnitude Of sub
scrlptlons. The metropolis reported $50
Wo,VD more yesterday, or a total so far
OF N16oOo,oo0 more than one-third Of the
entire subscription TO date. Chicago
stands second with S25. OOO 900 and PhIIa-
delphia third with $l9.i7l 900. Yesterday
however, Boston ranked second 10 New
YORK in volume of subscriptions report
led-T125,OOO.
Lewis B. Franklin, president Of the In
vestment Bankers Association. with
headquarters at New York Citv vestcrl
day was selected by Secretary McAdoo
to assist him in handling the liberty loan
| bond issue. Mr.. McAdoo wrote to Mr.
Franklin last week asking him to suggest
some man competent to assist the gov
ernment in disseminating the bonds Mr.
tranklin offered his own services and
has been called to Washington,
Advance to Britain.
Another advance of $4,000. 900 was
made to Great Britain yesterday. Sec
retary MCAdoo sent to Ambassador
Spring-Rice the governments check
for that sum. 1t was agreed yesterday
| that England shall have S1OO,OOO 900
during May and probably a similar sum
during June, to be paid in $25, 900
installments. Last Saturday England
received $s5.OOOOOO from the Treasury.
leaving but S50,OOO.O 900 yet to be paid
on the May account. The loan bears 3
per cent and is payable June so, when
It viii be converted into longer term
securities.
Secretary McAdoo yesterday wrote
letter to Gov. Charles s. Whitman, ot
New York, expressing his qualification
at message from Gov. Whitman an
nOuncing that New York bankers nave
arranged to make $4,000. 600 or more
available for loans to farmers for short
periods.
Mr.. McAdoo stated that the farmer
needs all the assistance that can be
given him at present, so he can meet
the war food needs.
The Secretary also expressed regret
that New York State has not made
farm loan bonds legal investments for
savings banks, insurance companies,
and private trustees and guardians.
He urged legislation permitting such
FUNDS to be invested in farm loan
bonds, through the sale of which
money is raised to lend farmers under
the new rural credits act,