The Corpus Christi caller. [volume] (Corpus Christi, Tex.) 1918-1987, 1918-12-05
4 LOANS TOLD
WORLD PEOPLE
were into WAR

tcOntinufd from Page Dncl
The United States public debt last
June 80 was si2 3sc 100000 without
taking into consideration the 81 3D.
100000 free balance IN the treasurs's
TO partially offset the debt. The pub
lie debt has been Increased since then
by the Fourth Liberty Loan OF nearly
S70O0.O00 900 and hs treasury certifi-
Gates OF Indebtedness amounting 20
several hundred million dollars.
The report disclosed for the first
time the activities OF the treasury's
sinking fund to hu, up Liberty Bonds
IN an effort 20 keen their price from
falling far below rar Up 20 NoVen-
her !. X ~ shown. Sssios650o worth
Of bonds. race value. had been pur-
chased on the open market for s23a.
10000. or az an average price Of
about 30 per cent? ana subsequently
held BY the treasury or this sum.
S1724f5o0O were second Liberty Loan
bonds, Of both 4 and "a per cent is-
sues; x70,935.0H0 were Third Liberty
Loan bonds and sos $780, 900 were First
Liberty Loan converted bonds
The report showed that the war
finance corporation np TO October "a,
had made loans amounting 10 SGT.-
fl6VVp, OF Whl'h fl'.>b5.NVp hah heen
repaid. leaving advances outstanding
$S7S52.o00. Most OF the loans. OF SSi,-
$4,000 went directly 20 war industries.
Public utilities We're the principal Dor
rowers. while lGrnher companies. coal
operators. manufacturers and stock
raiscrs rank next in number Of appii-
cations
The magnitude % the work Of the
capital issues committee WIS indi-
Gated by the rerori that since Us or
ganlzation last Mas IL II has eNanin~
ed nehrlS 2,vog applications nom pros
pectiNc isSuers of securities. asffe-
eating about s33'ue0o.Oo 900.
About 20 per cent. OF ifesH appl-
cations We're disaprroNed said the
report. and these we're mostly OF "a
character involving new extensions
which wound n"i nr contfinutary 10
the winning oi lne war Ih' proven
tion 81 approximately Sfoo"p".puu OF
unnecessary issues which could be
stponcd was 'n important c"n'ripu
ton To the conservation OF me nation
resources
MI. McN'o" i""N occasion 10 elnphh-
size "sa'h th' hiN'ii@n'e OF h'N'"h
ing enactment OF thf revenue mn now
penuins IN congress-
Mess inc measure becomes law
III IN" near 'u'nre ne s"id' ~ VIII
NOT ne pINsic"hf p'Ar'nie TOT ihe uehs-
MY 70 frame 'N' he'eSn"iN iekNi' o.
lions ana I" print ana ais'ilpNte me
"'''Ss"'s '"It'h "'l"'' ,"' returns
ana N'Nes VIII r' que ih' enforce
'neni OF the Jaw WIZ necessarily nr I'M :
peiIi''u'
Ihe WISDOM "i sueh action p ON
Ph"Sl1e" ~ every s"Nhn economic
consideration ana wise ''N poileN. ~
~ o"si'a"'' IN" hfc'H'h"rF 'i'n we
Wow poip' "' me TREASURY ~ con
"enhihN 'ne pe'i"" 81 it"nlus'ii''h'
anu from me N.'" point OF '"'"i ~"
INDUSTRY Henei"''N'
Nf' M'Ndoo feNlrWeH tn' man gal
pf"''i''A "i ~" H'"i' i"'inuihk 'he
iloNtins 81 snort i'itn "itliiv"i"t 81
Indebtedness IN ADVANCE "i every l-'h
eits Loan I" prevent inc "iNnrhin@ OF
me money market hN 'n" ioan ana g"
ont"in me money nrede" nN th' treas
NY ~ advance oi i"hh '''fip'H ii'
a'id the was savings movement had
resulted not only in gathering 10 fhdl'-
VVo'oVo Tor war purposes ilp 20 Soc
Nrmper J. hhi +" h''d h"ipr' Z" 'ei'h
the American people thili' ana r'"n"-
my
rms "ar-'l'ne experiment mas been
50 suecessfni ne commented. 'tha'
II ~ h"i'"d VAR savings certificates
VIII hec"ise continuing ieatnr" OF
the nations financing even "ter the
restoration 81 peace
Ihe report explained AZ "hbih inat
fttfult OF The Treasury policy Iu
! distributing the ffslti. Vuprnp tfTsiitA
s,.s,iity. ,.r..ian a~,h,n,,e r,tes ana
| h,in,, IA. aolisr u.arer r,r in l.,,ro
,.,,,, ,.,,t,,es t,,t a,a M ,c.,.,,, ~,
] - .s,.',.,.,.. M.