Pine Bluff daily graphic., 1918-11-21
R0NO SELLING IN FUTURE WILL Bf:
 IN NEW METHODS

Washington, Nov. 20.-secretary ucAdoo and members of the capital ;s.nes committee agreed today that 4 the committee should continue inde. s;n;tely it's functions of supervisine nronosad issues of stocks and bond. for capital purposes, as a measure of rationing capital in preparation fo! suture war loans. At the same time # became known that the treasury lans tentatively to float about eight Million dollars more securities dur ing 1919 and hopes to get at least two billions of this sum from wal savings.
 Despite the decision to continue the activity of the Capital Issues Con- mittee in an effort to suppress fra dulent securities which promoters would seek to exchange for Liberty Bonds held by small purchasers, con- siderable doubt over the future sta tus of the committee still exists III rhe mind of Secretary McAdoo, and other treasury officials, it was said.
 Government war bond selling ill the future will be along distinctly new lines. Bonds will have short maturities, and Secretary McAdoo ex- planed today that by this is meant from three to seven or eight years In addition, issues will be smaller than in the past, and probably will be marketed more continuously.
 War savngs organizations through out the country will assist in plac- ing the bonds, MT. McAdoo said, in more direct manner than in past Liberty loan campaigns. The II percent interest rate borne by the last two issues of Liberty bonds may be changed, depending on other terms of the securities.
 Amounts of future issues. interest rates and time of marketing cannot be determined definitely for another month or two, but the heavy over- subscription of the fourth Liberty loan will enable the treaury to post pone the next issue longer than oth- erwise. It still is expected by spring.
 Some advocate that congress be asked to give the committee compul- sory power. which it now lacks, and without which it is feared it cannot make its restrictions effective after the ardor of wartime cooperation among business interests has cooled. Others suggest that the functions of the committee be taken over by treasury agency to which the presi- dent might delegate his power, confer red by the Fourth Liberty Bond act. to regulate the sale of Liberty Bonds In this manner, it mgiht be possible to require promoters who exchange their securities for Liberty Bonds to report regularly the amounts of bonds thus taken in, and these reports. it is lelt, might act as a restraining in- fluence
 Members of the capital issues com mlttee, although expressing them- selVes as individually anxious to re- lnquish their duties, agreed to take up questions of relaxing their past srlct regulations to permit the float ing Of bonds. for public improvements, states counties and municipalities re- s'oas where material and labor are available. without detracting from more essential government projects. m other words, the committee now lnlends to work out systematic pro- gram Tor permitting the financing of enterprises which will take up the slack In industrial and labor fields 'aused by cessation of war activities. rms policy, when formulated, will ~ set forth in statement by the .ommlttee. This may be issued within few days.
 special effort will be made to dis wurage the floating of questionable nighy speculative securities is sues' although without authority to vuerce promoters, the committee must ,,ey mainly on the cooperation of imsestment ins bankers and other bank
 s iaterests, whose leaders have as- 'D.sa the committee of support.
 v. Aaotner difficult problem of late n." "as financing Il confronting the treas SS' s,s IS the maintenance of the exten- nn nme war savings organization, built ss, aurlng the last year, with thou tnau tsaus or men and women giivng their nsn me to the movement without com sd,asatlon. ~,us Many of these workers now ths 'su . .o De relieved of their duties, but hos. s treasury is urging them to stay doi,a s to aid in gathering two billion uraaan ais m the campaign of 1919 and to
 tue doctrine of continued thrift.