Jasper County Democrat, Volume 20, Number 23, Rensselaer, Jasper County, 16 June 1917 — LIBERTY LOAN HALF BILLION OVER THE MARK [ARTICLE]

LIBERTY LOAN HALF BILLION OVER THE MARK

Total Purchases of War Bonds Believed to Exceed Call by Huge Sum. M’ADOO’S HOPES SURPASSED .0 1 Vast Number of Small Sales Insures Issue as “Popular Loan” —Millions of Buttons Made to Supply Demand. FINANCIAL MOBILIZATION THE NATION. > Al lotment $2,000,000,600 Pledged (estimated) ....$2,500,000,000 New York, June 15.- —Bankers ami newspapers here are J agreed that the nation lias over-subscribed the Liberty loan by one-fourth to one-half a billion. This estimate is imide in spite of the fact that the latest official report in Wa.sliingtdii-*-i'i.ssued on reports received Up to noon yesterday, ]>laced the total at $1,843,000,000, or $157,000,000 short of the goal Set. Washington, June. 15. : —The two billion Liberty loan has been placed successfully. This positive statement was made on the authority of Secretary McAdoo. Unofficial figures received at the department up to five o'clock last, evening showed that the loan had gone over the $2,000,000,000 mark and might reacli $2,500,000,000. Treasury officials said it probably will be nine o’clock tonight before the final returns are received. ’

Secretary McAdoo made no formal announcement of the result of the 30day campaign for Aar funds, but expressed his satisfaction with the figures he expects to have tonight. However, in a brief statement, Mr. McAdoo announced that up to one o’clock yesterday’ the subscriptions officially reported to his. office totaled $1,843,000,000, which left only $157,000,000 to be made up from the vast sums which it is certain will be reported today. More than gratifying in the secretary’s mind is the number of ers to the loan. It has proved a “popular loan” in every sense of the term.

The number of buttons asked for by the various federal reserve districts i shows that the previous estimate of j 2,000.000 individual Subscribers falls ■ far short of the actual number of men, women and children who put their faith in the American eagle and their savings at the disposal of the nation. McAdoo's Hopes Surpassed. All along it has been Mr., McAdoo’s aim to have the loan oversubscribed; but even the results of the last few days’ feverish campaign surpassed his hopes. Treasury officials say there is no way yf approximating how much the total will reach, although the department has tried all Week to gain some definite figures from the outlying banks. Assistant Secretary Crosby.. said such conditions were not to be wondered at. The banks, he said, were doing their part of the work purely through ti patriotic feeling and possibly it was too much to expect them to negileet routine business of primary importance to tabulate figures in advance, when a final tabulation would be sufficient. In face of all these encouraging reports, no letup was allowed in the hist great drive for the loan. In many cities and 'towns some of the banks were keeping open until midnight. As late as five o’clock telegrams from a number of cities received «t the department . said long lines men and women were waiting at the bank doors with cash in hand to buy bonds. . Just how deep “the little fellows.’* the men with only a few hundred dollars to spare, went into the war investment is shown in the fact that every large manufacturer of button emblems in the country has been working night and day for the last two weeks to turn out the thousands of lapel badges Showing the wearer had bought a bond. - Chicago Took 360,000 Buttons.

Chicago asked for 300,000 buttons; Cleveland and St. Louis wanted 200,000; Boston and Philadelphia needed 500,000 each; Dallas asked for 135.000 and San Francisco 265,000. Just why Philadelphia and Boston, both smaller cities than Chicago, should have had more subscribers, was explained at the department by pointing out that eastern cities represent mills and factories with a greater number of workers than the agricultural and live stock regions of the West and South. i