Mohave County miner and our mineral wealth., 1919-05-03
DISSATISFACTION ASKED
 IN VICTORY CAMPAIGN

San Francisco, April 29th-George K, Weeks, head of the Victory Loan campaign in the Twelfth Federal Re- serve District, in bulletin just is sued says:
 Liberty Loan workers should not gain the idea, that because the Sec retary of the Treasury has announced that the Victory Loan Notes will not be allotted in excess of the $4,500,000,- | GOO fixed as the amount of this Loan, work can stop in any locality as soon as it's quota is obtained.
 A substantial over-subscription of the Loan is very desirable: First: Because of its effect on public sentiment.
 (a) Politically: The peace treaty has not yet been signed. There is indisputable evidence that many Ger man statesmen believe their oppon- ents are war-weary and that show of defiance may result in their avoid ing proper. reparation for their ag- gressions. A large over-subscription of the Victory Loan at the present time will have an immense moral in- fluence in all the capitals of Europe.
 (b) Effect on business: Confi- dence is the foundation stone of pros- perity. A large over-subscription of the Victory Loan will do more than any other one thing to stimulate busi- ness and strengthen the markets of all other American securities.
 Second: Because of it's effect on the market value of the Victory notes. A large over-subscription will tend to establish market value for the Victory Notes at or above the issue price. When the great bond house offer for subscription an important new issue of bonds they conduct an intensive selling campaign and when the subscriptions come in if there is the slightest question as to the mar ket for the new issue offered, they "over-allot" is they confirm sale of more bonds than there are in existance. This, to the initiated, may seem surprising procedure, It is adopted because experience has shown that there are always certain number of cancellations. Orders are duplicated. Subscribers ask for more bonds than they really expect to get, or change their minds. If, therefore, all subscriptions except just enough to make up the issue are rejected at the end of the selling campaign, these cancellations immediately throw a wet blanket of bonds on the market and the market declines. On the other hand, if sales have been confirmed in excess of the amount of bonds available, these cancellations arc taken care of in advance, there k strong bidding for bonds to take care of short sales, the market advances and thousands of subscribers all over the country are pleased. The issue i: success.
 The Treasury Department ha sought to adopt the same principl in limiting allotments of the Victor! Notes. If these Notes are 100% over subscribed, the large subscriber will be cut down and many citizen who really want the notes as an in vestment will be in the market t purchase notes coming from other who are subscribing merely for ap pearances, and who do not intend t hold.
 Do not be satisfied at "going owe the top" with the amount of you quota. Keep right on going an storm the enemy's trenches with
 1eO1o over-subscription. A countr wide r-subscription of this mag nitude will pay big dividends in de veloping political and business cor fidence and in making record fo Victory Notes as war Offerin
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