The Richmond Virginian. (Richmond, Va.) 1910-1920, 1918-08-26
BANKS GREAT HELP
TO LIBERTY LOANS

The national banks OF the United
states have been most useful and ef-
feetive tnstrumentalitfes in the plac-
Ing of liberty loans and very potent
factors In insuring the success of the
issues.
The records show that the total sub
sertptions to the three liberty loans
received through national banks aS-
gregated more than 81. coo. 3no, GOO out
OF a total of all subscriptions Of sll,-
aas,aoo.ooo. The total amount allotted
to subscribers was ss.s75. 100000, The
bonds have been widely and thor
oaEhty scattered among investors and
only a small portion has been retained
by the national banks themselves. The
effect OF this distribution has heen to
leave the resources of the national
banks frse to supply the commercial
and Industrial needs Of the country.
On June IS. 1918. the aggregate
amount Of liberty bonds of all three
issuea held by national banks was
stts,1S9. ooo--or e.aa per cent of the
total resources of the national banks.
which on the same date amounted to
$i7.11s. eoo.1ao.
The national banks further report
that the total amount of money which
they ware ioaL:ng on the. security OF
liberty bonds OF all the three issues on
v
: 81 per cent of total resources.
These 6gures Indicate clearly that
these banks have pursued a conserva-
tive policy in keeping their resources
In liquid condition, and have not
overinvessed in liberty bonds. but have
performed an exceedingly valuable ser
Vice la eneeting broad distribution
among THAR customers and TO tae pub
lie
The banks Of the country are now
In a position TO contribute largely of
their own resources toward the pnr-
chase of liberty bonds IL there should
ever be occasion TO do SO; but IL Is
hoped and believed that they will be
able TO continue successfully their pol
irv OF aiding In the diffusion OF the
liberty loans widely among the people
rather than of buying them for their
Cwn account
TIE bonds of the three liberty issues
owned by national banks on June 20.
1914. exclusive OF bonds they had sold
err contracted to sell included So, 3an,-
eea Of an per cent bonds 3272,a1s.eoa
es per cent bonds. and s74.5sS,eoS OF
bonds Of the third issue. In addition TO
these bonds the national hanks also
ieported holdings Of ssfs.Tss.o0o Of
United States short-term certificates
OF indebtedness.
1t is noteworthy that the net amount
tanned by all national banks in the
New England states is only s4,eiT.ano.
The amount retained by all national
hanks In the Eastern states. including
the large cities of New York and Phil
adelphia Ia only $5a.t3s. 900; by ma
uenal banks in the Southern states.
36,1s.,0oo. and in the middle states.
sa.3x4.e0o. The national banks In the
western states have In the aggregate
disposed Of an amount equal to all
that they subscribed for. and the net
balance Of the third loan kept by ma :
tfonai banks in the Pacific states was
only $232s.0co.
The net amount OF liberty bonds Of
All three issues retained by the ma
ttcnal hanks In the central reserve
citiet was reported at $113.0as.o00 in
ether reserve cities. $ss.1T2 600: and in
the country banks. $2l0.5ss.0a0. The
country national banks hold s12.3a5. 900
more liberty bonds than the combined
holdings Of the national banks in all
reserve and central reserve cities.