The Washington times., 1918-02-18
Of
TH|RDLOAN BONDS
ALREADY-PRINTED

Approximately two-thirds OF the vast
issue Of bonds for the third Liberty
loan are already printed, It was an
nounced today by Director Wilmer OF
the Bureau OF Printing anC Engrav-
. ing.
About S.5OO.OOO OF the new bonds
are stored in the vaults OF the bu-
reau. awaiting only the sealing and
numbering process, which has been
improved through an invention capa-
BILE Of releasing SOC. 900 bonds a day.
More than 100000 bonds Of the
third issue are engraved on the backs
and are now being faced, and the bu-
-reau contemplates having the entire
issue completed and ready for sealing
and numbering as soon as the Treas
ury Department gives the order. The
supply OF bonds is being printed 90
per cent faster than on former loans:
each plate Prints six bonds, as COM
pared to four in the previous meth
cd. Bonds OF every denomination,
from the $50 bond to the $4,000
bond, are absolutely standardized,
and IL the third loan should be an
nounced tomorrow the bureau has
on uhHu ~ obPpAy NAAS NAANA-N
country and Is prepared to complete
the issue before the campaign would
close.
IS Presses at Work.
Secretary McAdoo authorized the
bureau to start on the third issue
last month, and the first bond was
printed on January 10. Today there
are twenty-five power presses grind
ing out bonds. and while Nhe entire
process has been standardized under
Director Wilmer the bonds are richer
m character" and just a trife
smaller than those OF the two pre-
cedIng issues.
The only difference between a So.
900 bond and a $50 bond Is the color
OF the ink and the number indieat-
ing the denomination. The design Is
the same and admits OF even more
difficulty In counterfelting, as the en-
craving Is more elaborate. One en-
tire floor Is devoted to the printing
OF the bonds. and the director de-
clared they are being turned out on
the same principle as the manutac-
ture OF Ford cars.
When the Secretary OF the Treasury
announces the date OF the third Lib
erty loan, the bonds will be ready for
Nne nnal lmpTesslOubs OhG Oh CoSh
side. This was formerly a compli-
Gated process, but through an inven-
tion devised by the chief of the sur
face division, the bonds are sealed,
and engraved with the
STORY" in one impression, while one
more impression numbers and seals
the coupons and does the tinting.
The numbering machine works right
and left handed at the same time,
and thus the bonds will be distributed
to the Federal reserve banks.
$50 Bonds Most Popular.
The most popular variety is the $50
bond. These are made in the major
ity. The 800 bonds and the 81 900 |
bond are made for a large popular
demand. while the $500 bond is the
least popular. Others are in $4,000 |
and $4,000 amounts. OF the two
kinds of bonds being made. the cou-
pom bond is issued In five times the |
number OF the registered bonds. |
About one-sixth the entire issue Is I
OF registered bonds.
Owing to the complicated process in /
printing the first two issues of bonds, |
and because of the great delay I
the final engraving OF the last bonds
for the second Liberty loan was not
until about February l..
and many purchasers OF bonds were
not In possession OF the actual bond |
until long after they had made pay
ment.
Secretary McAdoo has avoided a re-