The sun., 1918-10-20
Peace Talk and Epidemic
Fail to Check Flood of
Subscriptions.
BIG SURPLUS EXPECTED
Late Rush May Bring Excess to
8O,00O,000 More Than
AllOtments.

kb,VOU,UUO,OUU mas been OverSub-
scribed by s1sOOOo,OO0 or more, ac-
cordlng to conservative estimates re-
eeived by THE SUN last night from
The twelve Federal Reserve districts.
The estimated total Is $8,156, 600, 900,
despite the epidemic OF Spanish In
Huenza and peace talk.
The United States Treasury De
partment announced a total of
s4,599, 719, ,450. but this represented
the subscriptions for the first eigh-
teen days Of the drive and did not
include yesterdays additions, which
were pouring In from all parts of
the country when the nation went to
bed. The Treasury Department, how.
ever, officially announced that the
loan had been pushed over and that
the country was hundreds of millions
behind in tabulationk
Yesterday brought most tremen-
dous outpourins OF wealth. from every
nook and corner Of the nation. While
thc Official figures are NOT available .
stream OF approximately 1900. 1000 900
American dollars surgea into Uncle
Sans war chest all day, from sunrise
b sunset and up to midnight.
Apprehension Was Felt.
The nation awoke yesterday appre-
hensive because only slightly more
than $4,000. 100000 had been raised,
but the old fashioned American last
minute subscriptions assumed the
proportions Of Niagara shortly after
Young America had opened its eyes
By noon the Hood OF pledges had
passed the $4,000. 100000 mark. and as
the day progressed the tide Of dollars
increased in momentum. 80 that be-
tween noon and midnight more than
81 900, ,0O0, 900 additional flowed toward
the United States Treasury to help In
making the world safe for democracy.
All Of the Liberty Loan headquarters
Of the various Federal Reserve districts
were showed under with subscriptions
yesterday. and 1t was declared by dis
trict managers that II would keep the
banks in every city and town busy the
next FIVE days tabulating the amounts
II lie expected also that the reports and
payments by the Federal Reserve banks
% the Treasury Department will take
fve days more
Estimate 100000 Subscribers.
In addition to the great success Of
the largest loan ever hoated In the
world, the huge number Of subscribers
came in for most gratifying comment
1t Is estimated by the Treasury Depart
ment that the number will approximate
100000. which compares with H.
100000 for the Third Liberty Loan. OF
these It Is estimated that about 4,600.-
900 came from the Federal Reserve dis
trict of New York. In the Second
Liberty Loan there were 100000 sub
ecribers In the nation.
The Fourth Liberty Loan was tho
greatest financial offensive launched by
any nation in the world, and exceeded
by $1,000, 100000 Great Britain's su-
preme effort The number OF subscribers
also exceeds by more than four times
the total enrolled by any other conn-
try In the world.
Including the Fourth Liberty Loan.
approximately $4,000. 100000 has been
placed In the war chest OF the United
states since the entrance OF the United
States in the war. All of the four
loans have been oversubscribed. The
first loan was for $4,000. 100000. and
there Was a billion of oversubscriptions
that we're not accepted. Tho Second
aoan Of $4,000, ,o00.0OQ was rushed past
It's objective with otersub:criptions Of
N.6l7.0Oo, 900. OF which the Government
Accep'ci only $s0S, 900 900. The sub
scriptlons 10 the Third Loan Of $S.00o.-
100000 were S4,176.000. 1000.
Omcials Expected Result.
Secretary McAdoo and other Washing
Ton officials expressed the highest grati-
lcatlon over the results OF the cam
pagn, and declared themselves certain
~ It's oversubscr' 'otion. their predictions
being based on CONFIDENTIAL advices re-
'e'ged from various Federal Reserve dis
trcts
The latest semi-official estimates re-
ee!ved last night indicated that ap-
parently every Federal Reserve district
had attained Its objective. The Federal
reserve districts OF Dallas and Atlanta
garely squeezed past their quotas, but
boston Cleveland. Chicago and st. Louis
viii have. II IL estimated. substantial
oversubscriptions. Philadelphia seemed
70 De having a hard time late yesterday.
nut It's managers expect. by a great ef-
'ort' to be able TO go over. The last
hay OF the drive In New York was
marked by the hardest kind OF work.
aud the Liberty Loan statesmen poked
INTO every corner where there might be
dollar willing to work Tor the ma
N cossln.,sd on T,eafA pusA