The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-11
N. Y.LOAN SALES FAR
i BEHIND SCHEDULE


!
Forthcoming to meet obligations al
ready incurred TO maintain the army
and navy. There IL ut present an avail
able cash balance In the Treasury Of
but little more than n billion dollars.
The nation IL spending at the rate Of
1900 .000,0 900 q month, when loans 70
the Allies are included. This rate OF
expenditure must be maintained at least
for n reasonable period after the war
ends All Government authorities esti-
mate that It will increase.
l To meet the current expenditures tho
Treasury has issued and has outstand 4
Ing certificates of Indebtedness to the
value Of approximately $4,000. 900. 900
maturing In a few months and accept
able In payment on loan subscriptions.
This money has been spent to meet the
war bills. On loan of $4,000. 900 900 the
Treasury would have but sl.50O. 000, 900,
only enough for months expenditures
left In cash from the proceeds Of the
loan. Some OF this cash win not be
coming In. however. for months.
| Even with the loan fully subscribed
the Treasury will not be able to meet
It's obligations without resorting to Is
sue Of Treasury certificates of indebted
ness In advance OF the next loan before
this one " paid for.
The situation Is this: The available
cash balance Of a little more than ST.
ooo'ooo.ooo Is about sufficient to meet
tne piiis TO November ]. The Treasury
VIII receive from n $6,0o0,o0o,00o loan
atter tne certincates are paid Tor Just
enough 10 run to December /. Without
rurtner financing and with loan install
ments paid in advance the Treasury
would be empty December /.
II
rive cities Reach Their Quota.
H Secretary OF the Treasury NcAdoo
announced that he will 20 TO Cbica no IN
ming In the interest OF the loan wbsthsr
or not the fact that Chicago is falling
pehind nad anything 10 DO with the Sec
refary making this decision was not
stated.
One bright spot in the campaign was
the announcement that Detroit, Louis
Vile, Hartford, Fail River and Duluth
had achieved their quotas. Enthusiasm
runs 30 high In those cities that their
Liberty Loan committees are bending
| all efforts 10 roll up additional large to-
tails.
Subscriptions are not coming In az
fast as had been expected in Minneano-
lis. but a reporf there states that this !.
due TO the fact thu, nsonis arc trvIns -
| take care Of their crons in face NJ a
labor shortage Tha Ihs-,u 90, 80
| Tnittaa of Minnsanoa,s ho.,a,,a.
| nrasae. or7d.nr. ~ Iii, raa,h ~. -.
| Tn ,ha a. Tn,,. ,,.,r,e, ,h.rtsa,,a.-.
aniasn,c cort,n,,as 80 80. - az ,na
atr.s schoo,s ga shuaosu ~.
! 49,, 80 a., . nere peen
800 ,rorS.r. :, p..a e ss
1nS,a, $500 !.'o sIea.er eio,'s'
| saN.s,ns 49, 81 one STATES surprising this
s.,S.,Ss 90 pc, eent. Oh ,'s quots
'u. nen'uchy u SECOND Win 80
p Ie .,, Aho al ha"sas, iiiiaois ana hS-
'"u'' ioho" III the oroer named.
'ct mere docs better.
More authorizations than for any nre
vious day were reported yesterday by the
Federal Reserve Bank of New York.
| when IL announced that the Second dis
tricts total for the tenth DAVIS drive
had been S6s96l,O5O, bringing the az
sregate for the first ten DAYS of the
urNe up 70 .sfe,iIt,,eo. Whiie the IN
was encouraging and approximately 80
per cent. greater than the largest pre-
vious days total the total for the fen
days continues to be less than half of
what should have been harvested In
that period
| Inc showing maze Tor the tenth day
| would have been still better had Il
Included the bonds sold at the Metro-
noI,tan Onera House concert m wsdnss.
| gan Cpea iiou'e eohes vi, Weue a