Every evening, Wilmington daily commercial., 1918-02-13
WILMINGTON I'm"
ON NEW 4 PER CENTS
Allotment for Reserve District, of
Which Delaware is a Part,
is $40, 100000.

The Third Federal Reserve District
cf which Delaware is a part. has been
allotted $40, 900 900 of the new United
States 4 per cent certificates of indebted
ness
The presidents of Wilmington banks
and trust companies, at a recent confer
cnce. agreed that they would do their
utmost To meet the demand of the govern
ment and no doubt " ilmington's subscrip-
tionS will form "A handsome aggregate.
II Is believed. too. that the banks through
out the state will respond literally.
The subscription to the first $780,
600 600 of certificates closes on Friday at
2 n. m. and must he in the hands of the
Federal Reserve Bank OF Philadelphia
bv that time To meet this situation
the Wilmington bankers should have their
subscriptions ready by not later than
Thursday evening
The total issue will be So, 600, 900, 900
and the Certificates Will be issued IN In
stallmcnts of $500 0O0000 every two
we,s,s. The allotment to the Third Fed
rral Reserve District OF which Delaware
i part. Is s4OOO,00 No separate
aIlotment has been made TO Delaware,
but IL is hoped that II will subscribe for
very considerable percentage OF the
amount set apart for the District
Little fear is expressed regarding the
ability OF the money market To stand the
strain. Owing to the prevailing system
of immediate redistribution OF the funds
connected by the Government in bank
denositaries there Is no dram on the
money market Banks should he able by
participating in the campaign for economy
which means economy of credit as well rs
Of expenditure 20 teach their customers
~ sayr and accumulate the means To
huv the Government certificates ana
bonds BY thus method. distribution
of Treasury certificates OF Indebtedness
should become possible which VIII relieve
the subscribing banks of at least q part
~ their purchases and furnish the means
of making payments for the next ISSUE OF
Liberty bonds without undue stran:
The lsue Of these certificates ls IN
sntic,patIon OF the Third Liberty Loan
which will n, offered 10 the country in
= short time and will probably aggregate
St. 600 600 600 There is much specula-
ton n 70 whether the new Liberty
bonds win bear per cent or - per cent
interest. and whether they Will have a
taxation feature or be free OF tax. In
snv event the certificates now offered Will
ne exchanged for the new bonds.
The fact il now well established that the
requirements Of the government are 60
pressing. not only for this countrys
needs, hut also for assistance 10 our
allies. that immense sums OF money must
he rsised from time 70 time to meet these
requirements and the financial institutions
~ the country are expected TO supply
he funds. The appeal, however, OF the
government is none the less directed 70
individuals who can express their loyalty
and pstriotism hv coming 20 the AID OF the
government with their money.
The plan Of financing for the next lew
weeks bv q series Of certificates issues IS
not altogether a surprise TO the banks.
They were on the lookout for some such
offering. Nor does the size Of the pro
gram staggcr them Bankers recognize
the fact that government financing is
now reaching stage when the financial
resources of the country are to be strained
10 the utmost The banks are the me-
dum through which the investors Of the
country are to be approached.