Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1917-06-16
ARIZONA DOES
SPLENDID BIT
|NbOND|SSUE
Republican A. p. Leased wire1


WASHINGTON, June 15-The Amer
lean people have responded to the gov
ernment's call for funds to finance the
war with an over subscription to the
81, 600, 900, 900 Liberty Loan of proper
tions SO huge that officials are buried
beneath landslide Of untabulated re-
turns
No man could say at 10 o'clock to-
night how great had been the nations
answer. Apparently it was overwhelm-
ingly beyond the most sanguine hopes
of treasury officials, though not one of
the twelve federal reserve banks, re-
gional headquarters of the loan, could
hazard more than an estimate of its
total
In the country's ringing answer to the
call, the dominant note was the voice
of the small investor. His money talked
this last day of the campaign IN eio-
quent terms. The hope for widespread
response of the average man with the
average income was more than realized
in the multitudeS that flocked to the
banks today
In the absence of official figures to-
night officials hesitate to predict how
high the total would soar. Estimates
from the twelve reserve districts, some
of them unofficial, but mostly from
tonight that the subscriptions mignl
reach the total of $2,S62, 100000, These
estimates, which were not vouched for
as authoritative at the treasury depart
ment, were as follows:
Each District Does Bit
New York $1,000, 100000 with the
certainty that the offering would far
exceed s1,000000,0 600.
Boston, S263, 300 600 (official figures up
| to 5 p. M
Philadelphia, S2OO,OOO,OOO. The COM
| piIation at p. m. was s165.00O, 900.
| Cleveland. 1884 100000, as estimated
| by the chairman of the local committee
! after a careful survey of the entire dis
! trict.
| Richmond. more than 100000, 900.
Atlanta. $4,000, 900, estimated with
| S3S, 100000 tabulated.
Chicago, 100000 with $780, ,0OO,-
600 tabulated at p m.
st. Louis, SS1, 500, 600 (estimate upon
returns to the federal reserve bank)
Kansas City, $50, 100000 estimate by
the federal reserve bank.
Minneapolis, s62 100000, estimate. of
the federal reserve bank.
Dallas, s47,O0OOOO estimated by the
federal reserve bank.
San Francisco, s16O,OOO 900, estimate
! by feQera1 reserve Ddlh-
at 4: 80 p. m. were 50,000,000
On the face of these estimates it ap-
peared unlikely that the total would
fall below $4,000, 100000. 1t also ap-
ipeared that three reserve districts, At
lanta, Kansas City and Minneapolis,
would fall below their minimum allot-
ment. Secretary McAdoo announced
the over subscription shortly after the
closing of the books in the east.
From Secretary of Treasury
1.-The Liberty Loan has been over
subscribed" he said 1T is impossible
to state the amount of the over-sub-
scription, but the exact figures VIII DC
given out as rapidly as the returns are
received at the treasury department
Il desire to express my deep appre-
citation of the efficient and patriotic
service you have rendered in connec-
ton with the Liberty Loan, the success
of which has been so striking and pleas
ing to the country" Secretary McAdot
tonight telegraphed all reserve banks
viii you not convey to the Liberty
Loan committees of your district L
the banks and to all other organization:
which have co-operated with you IL
this great Liberty Loan enterprise tn
assurance of my warm appreciation a.
well as my cordial thanks
will you not also urge these com
mittees to preserve their organization
f in order that they may be prepared L
, render signal services of like characte
! to their government when it is callet
upon again to seek an additional ere
: dit? 1t is of the utmost importance
7 that the splendid machinery now per
fected shall be available when needed.
, This machinery, Mr.. McAdoo lndl
Gated. will be utilized this fall in float
ing the second loan contemplated unde
the 81 100000, 900 war finance law Nj
McAdoo said he did not think ther
would be another offering before raj
The next loan hardly will be closed,
| is thought, prior to September 50, a
!; installments on the present loan WI
continue till August 80 and at least .
: davs will be devoted to the second cam
, paign.
| The exact measure of the country
response to the loan probably VIII nc
II be known until next week.
Thousands of subscriptions came TO
Hate to the federal reserve banks. Thes
by Secretary McAdoo's instruction:
will be tabulated separately and tn
Ii total forwarded to Washington. 1t
- possible that where it can be show
that failure to reach the reserve ban
r. in time was due to no fault of the SUI
(Continued on Page Two)