Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-04-06

ties where there arc no bank ina IN
atitutpns.. so that each county mag re
cclve credit for all It's reported sub
scriptions.
CREDIT TO BE GIVEN EACH
COUNTY ron IT'S SUBSCRIPTIONS
1T will perhaps frequently be the
case that citizens OF one county will
subscribe through banking institutions
in another county" said Governor Scay
and citizens in counties in which
there arc no banks. as matter of
course. viii subscribe in counties
where there are banks. II all sub
scr;p,ions made in any county are re-
ported ~ tho county chairman. and
the county chairman will rcpor, to his
state committee. due credit will be
given the county for all such reported
subscriptions. The aid OF the banks
viii be expected in making up such
reports"
officers Of the reserve bani; vagter-
day pointed gu, that the banking re-
sources are very small in some coun-
ties III proportion 20 tho total pupu.a-
ton. and in such cases and i'm counties
fcst that the minimum amount ex-
pcctcd from tho citizens should he ad-
jus;cd upon some other basis than
hank resources. Instructions along
these lines were sent to banking In
stitutions throughout tho Fifth Dis
trirt.
Because OF this fact. the bank has
worked out per capita basis for
subscriptions. which is; Maryland. s2i
Virginia, sli; West Virginia. Sl?
North Carolina. SIS: South Carolina, 50
and the District OF Columbia. S32. IN
view Of these figures, it was declared
10 be surprisingly small sum from
each individual OF any state which
* necessary to float the third loan of
$4,000, 100000. Data compiled on the
second loan shows that the average
per capita subscription in tho Fifth
District was :ti3.
SMALL PERCENTAGE
SUBSCRIBED LAST TINT:
~, is manifest that very small
percentage OF tho people subscribed
in tho las: campaign" reads a state
mont issued hy the reserve bank.
The burden il upon the Liberty loan
workers TO rcac! them in the coming
TO lie reached. hut wc know that many
thousands will wait. and that they
will not subscribe or subscribe enough
unless they arc approached. The
fewer who subscribe. the heavier must
be their subscriptions. and for every
Stacker another mans burden is in
creased"
Cards viii nc .cnt out in the mex;
- Il
which hanks viii make daily reports.
% subscriptions. Financial institutions
wl! report 10 the reserve bank ami
their state committees. The Importance
Of daily reports was stressed by Gov
c,nor Scay.
Caldwell Hardy. chairman Of tho
.;ichmond Federal Reserve Bank, f-
rec,cd letters yesterday TO all nnan-
ana others in the Fifth District, call
:,,g attention 10 tho action Of thn
capital issues committee. recently or
g.,!i2cd ~ tho Federal reserve board
This committee has a vote. which
pIepSc observe Vote 10 recommend
rho oostponcmcnt OF the issue or pub
lie lm..ing Of securities of every kind
during the campaign for the Liberty
loan. If possible this recommendation
no; applying TO cases whore securities
must be sold or offered To provide for
r.aturiiies. In case OF issues already
passed upon 10y the capital issues CON-
mi;tce, which have not been made or
offered for sale. il is hoped that such
Issues wherever practicable may also
bc postponed and that the subcommii-
tee will use their influence to that end.