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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 16, 1917
Page
7
The article details a surge in subscriptions to the war finance loan as the government extends its fundraising effort. McAdoo notes a fall use of machinery for a second loan, with many banks and mail investors rushing to meet deadlines. Washington, New York, and New England show large numbers of subscribers, with government and military groups contributing heavily.
Dallas Federal Reserve District No 11 oversubscribed the Liberty Loan by about 5 million. The Sixth District allotment stood at 40 million while totals at 11 oclock showed about 49 million. Officials say the tabulation remains incomplete.
Atlanta totals show Liberty Loan subscriptions reaching 52,503,010 dollars in the district, according to a late night announcement by the bank board chairman. The figure appears in a local report noting the campaign's progress within the Atlanta Federal Reserve District.
Washington reports that the Liberty Loan drew two and a half times as many subscribers as Germany’s first war loan of 4.46 billion marks. Germany had 1,177,285 subscribers in 1914, while Britain raised 458 million pounds with about 100,000 subscribers. The Liberty Loan surpassed all as the nation’s first war offering, attracting broad participation beyond the wealthy.
New York banks and trusts report heavy subscriptions to the Liberty Loan with a long list of institutions and sums. Major participants include First National Bank National City Bank Guaranty Trust Bankers Trust and many others across Manhattan and Brooklyn. Subscriptions from employees of various firms also feature prominently, with totals reaching into millions.
New England oversubscribed Liberty Loan as subscriptions neared closing. Federal Reserve Bank tally reached 203260000 with more orders in hand, exceeding the $1,000,000 district minimum. Alfred In Aiken of the Revenue Bank praised the response and estimated at least 700000 participants. National Shawmut Bank led with 201000000, Old Colony Trust Co added 24063100, First National Bank also engaged.
The Philadelphia Federal Reserve District exceeded the 175 million allotment as officials counted subscriptions by late June. Frank M. Hardt forecast a total near 250 million with large banks like Philadelphia National Bank and Girard Trust leading. The rush included substantial sums from Philadelphia Trust, Fourth Street National Bank, and others as untabulated checks remained.
Kansas City District reports subscriptions to the Liberty Loan approaching 90 million dollars with J E Miller stating final figures will be known in the morning. The district allotment had been 19 0 thousand?
Minneapolis reports total Liberty Loan subscriptions in the sixth district amount to about 2000000, slightly over three fourths of the district minimum quota of 800000.04. Duluth totals are noted but not completed in the fragment.
Reserve Bank officers announced a total of 4 900 900 dollars, about 62 dollars per capita, with late reports indicating a strong showing. The Minnesota iron range country also posted a notable result due to its large foreign population.
In Chicago the Federal Reserve District announced a loan total of 330 million dollars with Chicago accounting for 262 million and options up to midnight totaling 16 million. State tabulations show Illinois, Michigan, Indiana, Iowa, and Wisconsin receiving various credits, though adjustments exclude portions of those states.
In San Francisco on June 15 at 10 30 p m subscriptions to the Liberty Loan for the 12th Federal Reserve District reached 171 million dollars, with officials expecting final totals to exceed 80 million in the district overall. San Francisco reported about 50 million against a 42 million quota as state figures lagged.
Schenectady's Liberty Loan efforts show $2,380,700 raised with $280,200 above the allotment. Of the total, $1,987,200 was contributed by GE plant employees.
Utah totals subscriptions at 2 million dollars as Salt Lake City oversubscribes the Liberty Bond drive by 1.5 million. Banks were closed today amid the oversubscription and state officials announced the surge in public support.
In Paterson the Liberty Loan drive reached a total of 3,269,250 with nearly 2,000 investors turned away as banks refused subscriptions after noon. The city’s overall tally shows substantial participation amid high demand.
Rochester Liberty Loan committee announced that Rochester had subscribed 20,510,800 pounds, exceeding its allotment by 15,300 pounds. The report notes the city’s strong support in the fundraising drive.
Ernest Kroher, president of a Tampa shipbuilding company, resigns after a strike over Liberty Loan subscriptions. Directors elect a new president and order Kroher to buy 5000 dollars in Liberty bonds. Kroher reportedly refused, saying funds would finance war against his German relatives.
Dr. Thomas M Hatton a Quaker and pacifist admitted opposing his wife Anna Kramer Hattons separation suit while claiming peace with Mrs Hatton was impossible due to her pro German stance She said he earned 10000 annually and urged that the war not deprive her of support Justice Ford reserved decision.
Bridget Maher of 9540 Fort Hamilton Avenue Brooklyn is jailed in Fork City for selling liquor to men in uniform. U.S. Marshal James M. Yower reports several khaki-clad soldiers were present when he arrested her. She was arraigned before Commissioner McGoldrick and held on $1600 bail for examination on June 1.
Washington reports on Senate debate over a wartime freight priority bill with critics warning of invisible government power. Lawmakers contrast President’s needed authority for war logistics with risks to private enterprise and civil rights. In a separate session June 14, the Finance Committee revised the war tax bill including a $200 exemption per dependent, a reduced stamp tax, a new publishers tax, and changes to sugar drawbacks.
Belgium's Cardinal Mercier sent an autograph letter to President Wilson, presented by Rev. John B. Deville. He thanks Mr. Wilson for sympathy and aid during wartime, lauds his independence from Germany, and asks blessings for the United States. Dated February 9 at Malines Archbishopric.
The Rockefeller nonprofit in St Louis announced a $1,000,000 grant from the General Education Board, founded by John D Rockefeller, to Washington University for research in surgery medicine and pediatrics. The gift funds ongoing and new work at the university’s medical faculties.
A heated Senate debate ended with a 1 vote majority in favor of a 5 percent tax on publishers of magazines and periodicals. A late arriving senator would have opposed it, causing the proposal to fail on a tie. A minor amendment exempts taxation of certain molasses and syrup products used in munitions, while testing below 40 degrees.
Laurence Perin, famed explorer and social figure, dies by self-inflicted action in a Baltimore hotel. He inherited a large fortune from Nelson Perin, prominent financier. The Spanish government once hired an architect to verify Perin’s claim of buried treasures in a Moorish palace at Ronda. He was later held by U S authorities in Tangier after escaping an asylum.
Paris dispatch reports Raymond Ruff Swoboda, twice tied to espionage probes, arrested by Zurich police per Petit Parisien. He faced claims of recruiting spies to work against France and had ties to a Geneva businessman recently jailed for espionage. Swoboda, who fled Paris in 1915 after an earlier inquiry, wore an American passport and claimed U.S. citizenship. He had earlier been discharged and expelled from France after a German reserve officer designation surfaced.
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