New-York tribune., 1919-05-11
Late Buyers Swamp Book
keepers, and Final Fig
ures Will Not Be Made
Public Until May 20
New York District
$650,0O0,0O0 Over
Workers Keep Going I'm
til Midnight; Statement
From Secretary Glass

America responded to the fifth call
for Liberty dollars in the same way it
did to the first four---with a smashing
oversubscription.
Nearly six months after the last shot
in France was fired the people of the
United States, as ready to support
their government in peace as in wsr,
went far beyond the financial goal
$4,000, 0,OO0,0 ,000-set by Carter Glass,
Secretary of the Treasury, for the Vic
tory Liberty Eoan. The QuickeneG 10
f1ux of subscription; from every com
munity in the forty-eight states up to
midnight Saturday left the official tab
ulators hopelcssly behind the actual TO-
tails.
Although final mathematical pict-
ure of the oversubscripton of the last
popular loan of the war period will not
be ready until May 90, Secretary Glass
at O'Clock yesterday afternoon said:
"Unofficial advices from the sew
cral districts indicate that without any
doubt the Victory Liberty Loan is al
ready largely oversupScribed, with
every district making determined eff
fort to gather in every possible sub
scription before midnight
Met Call for Fifth Time
Thus, for the fifth time the country
has met the call of the Treasury De-
partment for the funds required, and
the great Liberty loan organization
has once again proved its mettle."
In behalf of the Victory Liberty
Loan Committee of the New York dis
trict, Benjamin Strong chairman. last
night said
"The Second Federal Reserve Dis
trlct has exceeded it's quota To what
extent there has been an oversubscrip-
ton cannot at this time be asccrtained.
nor in fact until the final tabulation is
made on May 20. There can be no
doubt, however, that New York City
and the remainder of the district have
responded fully to the call of the gov
ernment to finish the job Of paying
all the war bils-the cost of victory.
AT no time since the war began
have the Liberty Loan workers been
called upon to perform a more difficult
task, and at no time have they done
their work so thoroughly and so
splcnddly.'
Worked Up to Midnight
Announcements from headquarters
carly in the evening that the loan had
been greatly oversubscribed in no way
deferred the privates in the great sales
army, who remained at their booths un
til the hour of 12 struck, urging every
passerby to help America by lending
to pay the money cost of victory and to
aid themselves by buying gold notes
that yield Az per cent interest.
Fifty million dollars was subscribed
last night at reception in Madison
Square Garden to General Giuseppe
Garibaldi, of the Italian army, grand
son Of the "Liberator."
Buyers of $4,000 or less of Victory
notes will receive the full amount
ordered. but the subscriptions in ex-
cess of $4,000 will be reduced by the
treasury as much as necessary to keen
the allotment within $4,000 900 600
The notes will be redeemed in three
or four years.
Since the United States entered the
war $23,322349 $50 have been sub
sorihed in the five Liberty loans in the
United States, of which S7,247.A17.25O
in the Second Federal Reserve District.
In the matter Of distribution. which
was the main objective of the Victory
Liberty Loan, workers at Headquarters.
although lacking data, expressed conf
dence that the number of subscribers
exceeded 100000 and was probably
very much larger, and that the oversub-
scriptIon would exceed $1,000 900 900
The sale of notes on the partial pay
ment plan to persons of moderate
means was stressed beyond all else on
the closing day.
The Official Statistics
Official statistics announced last
night covered sales up to Friday night
and although giving no indication of
the last days results, which appeared
to be by far the largest of the cam
paign, they were regarded as indicative
Of the trend. The total for the nation
on Friday was $3,840, ,636 900, a gain for
the day of $b34, 100000, and for the
Second Federal Reserve District 81 ,302,-
s65,500. an increase for the day OF
$0s,450,2 $50 The staAding of tho twelve
Federal Reserve dAtricts after thu