Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-08-02
RICHMOND BANKS MAKE
ANOTHER HIGH RECORD
Per Capita Subscription to Liberty
Loan Largest OF Any City
of Country.
WILLIAMS ISSUES STATEMENT
Comptroller Of Currency Says Per
Capita of National Banks OF
Richmond Was $1,000, Leading
All Chief Cities of United States.

Richmond made another banking
record for itself in subscriptions to
the Liberty Loan Of 1917. which only
became known yesterday with the an
nouncement of subscriptions to tho
loan by Comptroller of the Currency
John SHELTON Williams. Per capita
subscriptions by the national banks of
Richmond were $1,000 leading all the
chief cities of the United States. This
record was received with the greatest
pleasure yesterday by leading bankers.
who declared that this city was Dccom-
ing more prominent daily as one of the
important banking centers of the
country.
Comptroller Williams announced that
the national banks in cities of more
than 1901 900 subscribed for themselves
and their customers to the extent OF
81. 100000 to the Liberty loan. Tho
banks subscribed to a total of $780,
100000 on their own account. the re-
naming subscriptions being made for
customers. New York City led all
cities both in the amount subscribed
by the banks and for their customers
Richmond bankers were recently adj
vised that the campaign conducted in
this city in the interest OF the bond
issue had probably been the most eff
hcient of those conducted in any city.
Not only did Richmond respond liberal
~ TO the Liberty loan issue but 1t sur
passed all expectations and greatly
oversubscribed its allotment of bonds
Officers of the Federal reserve bank
had set approximately 100000 as
the probable goal for local workers.
but the final figures at the close of the
campaign showed subscriptions in eS-
cess OF SIS. 100000.
GOVERNMENT RESUMES
OFFER OF CERTIFICATES
Governor George ]. Seay. Of the
hichmond Reserve Bank. announced
yesterday that Secretary Of the Treas
ury McAdoo has just decided TO resume
offerings of United tSates Treasury GER
| titicates of indebtedness In order TO
provide funds to meet the require
ments of the government for it's own
expenditures. and for it's advances to
foreign governments at war with the
German government. The Secretary Of
the Treasury now offers for subscrin-
ton at par. through the Federal re-
serve banks. s300.0O0.00O of such ccrti-
icates. payable November Is, 1917, and
bearing interest at the rate of 3h per
cent per annum from August o.
subscriptions to this issue of govern
ment certificates will be received at the
Richmond Reserve Bank until o'clock
in the afternoon next Tuesday Pay
ment for certificates allotted on sub
scriptions made through the reserve
banks must be paid on Thursday, either
In cash or current exchange.
In connection with the Offering of
these certificates, Governor Seay made
the following Statements:
The right is reserved to reject anv
subscription and to nllot less than the
amount of certificates applied for If
desired. negotiable interim certificates
VIII be issued by this bank upon pay
ment. eNchangeablc for the defintive
certificates of Indebtedness when pre-
pared.
Certificates will be In denominations
OF $1,000. $4,000 $4,000 and 500. 600
The act of Congress. approved April
"a, 1917 provides that these certificates
shall be exempt, both as to principal
and interest. from all taxation, except
estate or Inheritance taxes, imposed by
authority OF the United States or Its
possessions or by any State or local
taxing authority
THE Secretary of the Treasury an
nounces that:
Upon ten days notice. given in
such manner as may be determined by
the Secretary OF the Treasury, the
series Of s300,00o.000 certificates now
offered may be redeemed as 4 whole,
at par and accrued interest on or after
the date set for the payment Of the
first installment. payable after allot-
ment OF the subscription price of any
bonds offered for subscription by the
United States hereafter. and before the
maturity of the certificates.
The certificates of this series,
whether or not called for redemption
VIII be accepted at par, with an adjust
ment Of accrued interest IL rendered
on said installment date, as payment
on the purchase price of any such
bonds issued and allotted hereaf ter and
before the maturity of the certih-
Gates"