fkUl NEW YORK

REPORT THIRD LIBERTY LOAN COMMITTEE OF BUFFALO
House the promised subscriptions, but the Treasurer's department prepared and published
in the newspapers each day a list of names of subscribers of $500 or more whose subscriptions
had cleared through the banks with the amount of such subscription. This publicity
had the double purpose of recognizing the liberal subscriber and encouraging the too conservative
subscriber to increase into his proper class. The Treasurer and his assistant
accounted for and banked the campaign funds, purchased supplies and equipment, issued
all checks, hired the clerical help and posted the necessary ledger and journal entries for a
complete record of the campaign funds and expenses. Their purchase records are particularly
valuable for the preparation of a table of unit prices and quantities for reference in the
ordering of supplies for the next campaign.
THE RESULT
SUBSCRIPTIONS Buffalo's quota allotted by the Federal Reserve Bank for the Third Liberty
AND SALES Loan was $30,876,600. The actual sales as shown by the final official
announcement of the Liberty Loan Committee on May 9th were $39,-
920,650. Its record was one of 129% efficiency, and a gain of $9,044,050 over the quota.
The individual subscribers numbered 174,533 on the day of the final announcement which
based on a estimated population of 454,630 meant one bond for every two and six-tenths
person. The per capita subscription based on this population figure was $87.81. The per
capita subscription based on the number of subscribers was $228.70. Records at the time of
the final announcement showed 135,856 fifty dollar bond sales; 25,576 one hundred dollar
bond sales; 170,523 subscriptions under one thousand dollars and 4,010 subscriptions over
one thousand dollars. The total subscriptions under one thousand dollars aggregated
$11,762,050. The subscriptions over one thousand dollars aggregated $28,158,600. The
Marine National Bank handled the largest amount of bond sales—$10,450,000, and the
Manufacturers & Traders National Bank next with $9,053,750. The largest number of
subscriptions were handled by the Manufacturers & Traders National Bank—37,661; the
Marine Bank next with 36,687. A comparative tabulation of the second and third Loan
appears below:
Second Liberty Third Liberty
Loan Loan
Quota $55,600,500.00 $30,876,600.00
Sales $58,720,200.00 $39,920,650.00
Excess of Sales over quota $3,119,700.00 $9,044,050.00
Percentage of above excess 105% 129%
Number of Subscribers 137,382 174,533
Per Capita Subscription based on total number of subscribers
$427.42 $228.70
Per Capita Subscription based on population . . . . $129.16 $87.81
Ratio of subscriptions to population ... 1 bond to every 3.3 persons 1 bond to every 2.6 persons
Number of $50 bonds sold 92,390 135,856
Number of $100 bonds sold 33,797 25,576
Number of sales under $1,000 132,737 170,523
Aggregate of sales under $1,000 +$10,500,000.00 $11,762,050.00
Number of sales over $1,000 - 5,000 4,010.00
Aggregate of sales over $1,000 +$48,000,000.00 $28,158,600.00
In above figures Buffalo's population was taken at 454,630 and the sales figures based as
of the date of the committee's final announcement.
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