Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-04-15
BONDS BEARING
HIGHER RATE Of
INTEREST To Be
PUSHED I'm DRIVE
Subscriptions viii Be Received
for Tax Exempt Series, but
Effort viii Be Centered on
Others.
DISTRICT QUOTA
lSlSe4,50o. 900
Passage Of WarShip From
Coast to Coast Through the
Panama Canal to Register
Sales of Securities,
ray aosSrso JOURNAL spse,., .sAsto WIRE

Washington, April A. - Subscrip
tions will be received during the Vic
tory Liberty Loan campaign for the
wholly tax exempt notes bearing 3%
per cent interest. which the treasury
will issue as alternatives of the IA
per cent securities with partial tax
exemption. Emphasis, however. will
be laid by solicitors nthe Az notes.
and an effort will be made to round
up the bulk of subscriptions to these
securities, which may be converted at
any time into the "a per cent notes
A limited amount of the 4% per
cent notes will be available for out
right sale. but the treasury is not
sure that all demands for cash pur-
chases can be filled As in past cam
naigns, work has been rushed at the
bureau of engfayin= on the bonds OF
small denominations, since these con
sttute most of the over-the-counter
sales. There will be plenty of the
notes for use as samples" by sales
men, officials said today.
Qualification over the $4 500 000, =
600 total of the loan which is smaller
than had been generally anticipated,
and the interest rate, was expressed
today in hundreds of kilograms reach
ing the treasury from loan commit
tees Many of these were to the ef-
feet that the terms had raised the
hopes of loan workers and financial
observers.
Officials discussing terms of the
Victory Loan today said one reason
for the belief that the market price of
bonds of past issues would not be de-
pressed by the new securities, was
that there still should exist strong
demand for the older issues by large
tax payers. With certain arrange
ment of holdings of past issues it Is
possible to hold s160, 600, 900 of bonds
absolutely tax free.
Glass TO Sound Keynote.
Secretary Glass is expected to sound
the keynote for the loan campaign in
an address tomorrw in New York. He
plans to leave Friday for a two weeks
speaking tour of the west As
graphic illustration of the progress of
the nations subscriptions toward the
goal, the navy will send three war
ships between San Francisco and New
York by way of the Panama canal
during the loan campaign, the daily
position of these vessels indicating the
of subscriptions.
The first ship, the treasury public
ity bureau announced today, will leave
San Francisco on April 21, the open
ing day of the loan, and proceed to
q point off San Diego where il will be
met by destroyer which will then
make the trip southwark to the
Panama canal. The third ship, which
will be destroyer of the newest and
fastest type. will make the last leg
on the journey from the Panama
canal to New York, which is to be
called the "harbor of victory
The faster the country subscribes
the faster the vessels will travel and
the sooner will the "harbor of vic
tory" be reached.
AS the victory ship proceeds from
San Francisco the "harbor of victory"
it's progress will be shown by maps in
the newspapers and by bulletin boards
in the larger cities,
Every night Rear Admiral T. j.
Cowie, navy victory liberty loan Off
GER. will obtain from the treasury de-
r artment the days subscription to the
loan and by radio Will instruct the
ship commander to proceed distance
in proportion to the amount of the
The distance to be covered is more
than 5000 miles and the trip can be
made easily within the twenty one
days of the campaign.
District Quotas.
Federal reserve district quotas by
and amounts were an
today as follows: