A Treasury Loan

The usual oversubscription of Treasury loans took place in a Government offer of six months' 4% Certificates dated June 15. On June 12 books were opened on an offering of $150,000,000. Books were closed on the evening of June 13 with subscriptions aggregating over $340,000,000.

Certificates were allotted on all subscriptions of not over $100,000. On subscriptions between $100,000 and $500,000, 40% was allotted (but not less than $100,000 each). On subscriptions between $500,000 and $1,000,000, 30% was allotted (but not less than $200,000 each). On subscriptions over $1,000,000, 20% was allotted (but not less than $300,000 each).