New-York tribune., 1919-05-08
Success of Loan
viii Aid Industry
If individuals Subscribe,
Says Kirchwey, Banks
Can Use Their Funds to
Boost Trade

An effective way for the individual
to help alleviate the unemployment sit
uation is to buy Victory notes, accord
ing to DR.. George w. Kirchwey, Fed
eral Director of the United States En-
ployment Service for the State of New
York.
"unless private individuals subscribe
for the greater part of this loan" DR..
Kirchwey said yesterday, at must be
borne by financial institutions. If these
institutions are forced to place their
finances in the loan they will not have
money free to advance for the develop
ment of industries.
at is certain that unless industry is
able to obtain sufficient money from
the banks with which to expand its
activities there will be no relief from
the present unemployment situation.
"The fact that soldiers are being re-
ceived back at their old Jobs in no
way relieves the unemployment prob
lem, when civilians. both men and wom-
en-, are being released daily to make
room for these soldiers.
Banks Must Provide Money
"The only way to obtain work for
all is to expand industries throughout
the country. We all know how i'm
portant the banks are in this connec-
tlon. Without plenty of money free
for new development, we may look
forward to continuance of the present
serious situation, not only throughout
the summer, but throughout the winter
to come"
AS an index to the width of distribu
ton OF the new notes, Thomas Hildt,
CHAIRMAN of the Commercial Banks and
trust companies Committee, announced
yesterday that virtually every bank in
the city has agreed 20 participate on
a pro rata basis in carrying arrange
ment up to s110,000,O 900 for the sale of
notes on the partial payment plan
through coupon books.
Loan officials believe a new record
for subscriptions received at single
meeting may be made tonight at
great rally at the Metropolitan OPERA
house, under the auspices of the Met
ropoiltan Canvass Committee Former
OF the Treasury McAdoo will be the
chief speakers.
Police Raise $4,000 GOO
Fourth Deputy Police Commissioner
Frederick A. Wallis announced last
night that the police of the citv have
notes.
Eighty-six additional towns and
cities in the New York Federal Re-
serve district yesterday won honor
flags for filling their quotas, making a
total thus far of 375. Among the new
winners were Cedarhurst, N. Y; Law
renee, N. T.; Hoboken, N. j., and Islip,
The Woman's Clubs Committee. nm
der the chairmanship of Mrs. William
A. Campbell, has exceeded its goal
twenty times. 1t has already raised
S9,OO3, 100 and its quota is S45o,O0O.
The gain for yesterday was 81 ,285,85O.
$3,50O,oo0 From Westinghouse
Among the new subscriptions an
nounced yesterday, many of which have
not yet been included in the official
total, the following were for $4,000 or
more:
Westinghouse Electric and Manufact
uring Company and employees, $780,
600; William Goadby Loew, $l,000,O00,
7: A. Gillespie & Co. (additional),
s1,oo0,0oo; Payne Whitney, $l,oo0,O0o;
Elk Eh NJ Warburg, Wa bur $1,000 900; Otto 4
sl,oo0,o0o; Jacob H. schiF, 1000 900;
Charles II. sabin, $1,OOO,O00 Hoboken
Bank for Savings, $1oo0,00o; j. P.
Morgan (personal, additionaD, $1,000
900; B. Altman & Co., s75o.00o; Lin
coin Savings Bank, of brooklyn (addi-
tionaD, 100000; Ocean Accident and
Guarantee Company, Ltd, 100000;
Ada Small Moore, 100000; William H
Moore, $500 900; Kissel, Kinnicutt &
Co., 100000; Dominick g. Dominick,
American Alliance Insurance Com.
pany, $2b0,00o; Pyrene Manufacturing
Company, s250.oO0; West Side Savings
Bank, s2o0.0oo; Horace Iiavemeyer,
100000; Jacob Rupert, 5000 900;
Roessler & Hahsiacher Chemical Com
pany, 100000; McGraw, Hill Company
ladditionaD, 100000; Lee, Higginson
g Co. ladditionaD, $15oo0O; Atlas
rSwder 10y. Company ladditionaD. s144,-
lyn (additionaD, s1s3,0o0; Babcock &
Wilcox Co. (additional), $500 900;
American Steamship Owners Mutual
Protective Indemnity Association. S100.-
600; Asiel & Co., $1,000 Cape. Cruz
q Co, 100000; Mary b. Rogers, $780,
900; David Dows, $4,000; George Lue-
defs Il Go. and employees, s60,850; En-
ployes OF the Ocean Accident and Guar
antee Company, Ltd, $4,000.
Hunter Manufacturing & Commits
sion Company, 10000; Denver Chemj-
cal Manufacturing Company, $4,000:
Corn Products Refining Company, $50.
oo0;- Fred Hirshorn, $4,000; Barney
w. Le Clear. $4,000; Estate Of Henry
w. Palmer. $4,000: Elizabeth d. She.
pard, $4,000; Simon Ascher Il Co..
Ins, $4,000; Jprcidini Expert Com
pany, y26 900; Wallace D. Phillips, $25,-
900; M. Winbun, $4,000; American
Maganese Steel Company, $4,000;
Frank @. Alden, $4,000; employees OF
Auto-Strop Razor Company, 10000;
Newton NJ Ghnfer 500 nnn. pnnrlnaa