New-York tribune., 1918-04-24
Grand Total for Fourteen
Days Is Swelled to
81, $50, 900, 900
Days $167,123,OOO
Largest Reported
New York District Still
Lags, but Is Ahead of
Last Falls Showing

Liberty Loan workers saw signs of
the start of the great upward trend in
subscriptions which is expected to
carry the nation far beyond its official
minimum in the tabulations announced
yesterday. From all parts of the coun-
try a great flood of pledges wclled up,
bringing the grand total for the first
fourteen business days up to S1,6S0,-
100000, which is within s22,321 200 of
the schedule necessary to raise the
$4,000, 100000 quota.
The total for the fourteenth day was
1857, 200, which is the largest daily
total yet reported. 1t is $47,000,000 in
excess of the $120,OO0,00O daily aver
age required to fill the nations quota.
First honors for the day went to the
st. Louis district, which has filled it's
entire allotment of $13O,25O,5O0. The
Minneapolis district, which has filled
80 per cent of it's quota, scared UP to
second place in the relative standing
of the twelve Federal Reserve dis
tricts.
New York District Still Lags
In New York, the official figures Of
fered far less satisfaction to- the work
ers. This district pledged only $780,
071,350 on the fourteenth day, which is
nearly twenty millions less than the
$45,863,850 raised on the corresponding
day of the second loan drive.
nocpije Tho 1opn;p~ th;e OF ~
for the last week, it is still ahead of its
record for the first fourteen days OF
the second loan. The Second Federal Re-
serve District now has a total amount
ing to s416,683, $50. compared with
1898, 5,002, $50 in the same period of the
last offensive for the dollars of Lib
erty.
The persons RESPONSIBLE for the flo
tation of the bonds in this district ap-
pear to be worried over the showing
New York is making in comparison to
the glorious achievements of the West
ern districts. They cannot overlook
the fact that the New York district
ranks tenth IN proportionate accom-
plishments, and that the Richmond
District, which is now eleventh, is rap
idly catching up.
Factors in Situation
A summary of the factors which
many financial diagnosticians believe
account for the laxity shown in New
York was made yesterday by a mem
Der of leading banking firm. In the
first place, the railroads, which have
not yet received their rental fee from
the government, are, generally speak
ing, abstaining from purchasing bonds
They were fairly large purchasers here
tofore. Moreover, the large corporations
are facing enormous excess profits
taxes, payable next month, and many
of them are therefore postponing their
bond subscriptions, it was pointed out,
until they know precisely how they
will be able to meet their mandatory
obligations. Many financial men as
sert that the Treasury Department
ought to permit corporations to spread
the period of payment of taxes over
several months instead of asking pay
ment in lump sum-
Still another factor that is men
toned as a reason for New York's rela-
tive standing is that many corporations
whose headquarters are in New York
are crediting a large proportion of
their subscriptions to outside districts
where they may have branches to help
them win honor flags for filling up
their quotas quickly. In previous cam