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Updated: May 11, 2025
The constable, with official dignity, undertook the responsibility of stakeholder. Gleeson, Walker, and Tap laid down all the wealth they had, and from all parts of the room contributions came to cover it, until the money on Tony was heavily over-subscribed; and men were crying out that they could get no bet. The excitement brought back some of Gleeson's swagger.
I was in America when the Liberty War Loan was so amazingly over-subscribed. I saw buses, their roofs crowded with bands and orators, doing the tour of street-corners. Every store of any size, every railroad, every bank and financial corporation had set for its employés and customers the ideal sum which it considered that they personally ought to subscribe.
If the loan is over-subscribed, the applicants will only receive part of the sums for which they apply. If it is not fully subscribed, they will get all that they have asked for, and the balance left over will be taken up in most cases by a syndicate formed by the bank or firm that issued the loan, to "underwrite" it.
By taxation and by three Liberty Loans, each over-subscribed by more than fifty per cent, we have demonstrated that there will be no lack of money. The problem of the production and conservation of food is being met, though not yet without some inconvenience, yet so far with very little suffering. The remaining factor is the production of the necessary materials for carrying on the war.
He must have smiled to himself when an Imperial issue at four per cent. put out in February, 1913, was not only not over-subscribed but not even all taken.
With four more such days our quota would be over-subscribed." "That's what we shall try for," she declared, and then told him who the biggest bond buyers had been mostly those who had refused to listen to the regular Committee or had not been influenced by their carefully prepared arguments. "It's just because we are girls, and they are ashamed to refuse us," she acknowledged.
A subscription to an endowment fund was shortly afterward begun; and the amount had been brought to eight hundred thousand dollars when the Great War interrupted any further additions. In the autumn of 1919, however, a city-wide campaign for an addition of one million dollars to the endowment fund was launched. The amount was not only secured, but over-subscribed.
In 1853, when the company was floated, money was abundant and cheap; the shares and bonds issued were over-subscribed twenty times, and were quoted at a premium before allotment. Scarcely was the issue made when war with Russia loomed up, and money rose from three to seven or eight per cent. Never again was it possible for the Grand Trunk to secure capital in such abundance.
Already several companies had been organized to engage in ranching, and the capital had been over-subscribed in every instance; and actually one would have supposed from the chat that we were holding a cattle convention in the West instead of dining with a few representatives and government officials at Washington. I soon became the object of marked attention.
As an indication of the estimate of the credit of Japan within her own territory as well as abroad, I may record the fact that the Exchequer Bonds which were issued in the country in 1904 and 1905 for the purpose of defraying the extraordinary expenses of the war were largely over-subscribed, the first issue to the extent of 452 per cent., the second 322 per cent., the third 246 per cent., and the fourth 490 per cent. a record surely!
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