Liberty Loan Payments Overwhelm Federal Bank in New York
The Liberty Bond Division of the Federal Reserve Bank of New York on the fifth floor of the Equitable Building saw thousands flock to pay the second installment of Liberty subscriptions. About 7,000 individuals filed directly, with many deposits by devices and messengers. staff worked late but could not finish the tabulation. Receipts and interim certificates will be distributed in the coming days as deposits and certificates are tallied. The New York bank issued ten dollar slices of the Liberty Loan and noted declines in later market movements with some certificates valued higher due to accumulated interest.
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