War borrowing

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Monograph

Identifikator:: 101124439X

URN:: urn:nbn:de:zbw-retromon-21219

Document type:: Monograph

Author:: Hollander, Jacob H. http://d-nb.info/gnd/136924867

Title:: War borrowing

Place of publication:: New York

Publisher:: The Macmillan Company

Year of publication:: 1919

Scope:: 1 Online-Ressource (215 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: The present

Collection:: Economics Books

THE PRESENT 63 the certificate issues in anticipation of the Third and Fourth Liberty Loans, the relative amounts al lotted to the New York District became less. Of the $3,012,085,500 certificates issued in anticipa tion of the Third Loan only $1,255,308,000 or 42 per cent., and of the $4,659,820,000 in anticipation of the Fourth only $1,680,989,000 or 36 per cent, were taken by New York. The essential role in the New York District was of course played by the New York City banks. With respect to the issues in anticipation of the Second Liberty Loan “ Of the 1076 banks (not in cluding savings banks) outside of New York City, 308 purchased certificates of indebtedness, but of these only about one-half were what may be termed regular purchasers. The others participated in only one or two of the issues.” 41 How successful were the succeeding efforts in this, as in other Dis tricts, to enlist banking participation appears if the above figures be compared with the response of banks in the New York District to the first six cer tificate issues (June 25, July 9, July 23, August 6, September 3, and September 17, 1918) in anticipa tion of the Fourth Liberty Loan. Of the 1220 national banks, state banks, trust companies and sav ings banks in the District 613 subscribed to the first issue, 817 to the second, 781 to the third, 830 to the fourth, 907 to the fifth and 885 to the sixth. Of the 621 national banks, the number of subscribers rose from 363 to the first issue, to 516 to the fifth; of the 225 state banks, from 108 to the first 41 “ Fourth Annual Report of the Federal Reserve Board," P- 277.

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