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Show MEW LIES FOR IR BIO SALES Issues Will Be Smaller and Likely Marketed at Frequent Fre-quent Intervals. Capital Committee Will Still Supervise Proposed Stock Flotations. WASHINGTON', Nov. 20. Government war bond selling in the future will be along dlsthully new lines. Honda will have short maturities, and Secretary McAdoo Mc-Adoo explained today that by this Is meant from three to seven or eight years. In addition, issues will be smaller than In the past, and probably will bo marketed mar-keted more continuously. War savings organizations throughout the country will assist in placing the bonds, Mr. McAdoo said. In more direct manner than in past Liberty l"an campaigns. cam-paigns. The per cent interest rate borne by the last two issues of Liberty , bonds may be changed, depending on oilier terms of the securities. Amounts of future issues, interest rates and time of marketing cannot be determined deter-mined definitely for another month or so, but the heavy oversubscription of the fourth Ltbrty loan, with a total of ?H,9S0,-047,0110, ?H,9S0,-047,0110, or 1().4S per cent more than the six billions sought, will enable the treasury treas-ury to postpone the next issue longer than otherwise. It still is expected by spring. National managers of tho war savings movement conferred today over plans for further consolidating war savings and Liberty loan committees in each locality in preparation for the next issue of bonds. To Ration Capital. Secretary McAdoo and members of the capital issues committee today agreed that the committee should continue indefinitely in-definitely supervising proposed issues of stocks and bonds for capital purposes, as a measure of rationing capital in preparation prepa-ration for future war loans. At the same time it became known that the treasury plans tentatively to float about eight billion bil-lion dollars more securities d tiring J 919, and hopes to get at least two billions of tliis sum from war fVvings. Despite the decision to continue the ac- an effort to suppress fraudulent securities which promoters would seek to exchange for Liberty bonds held by small purchasers, purchas-ers, considerable doubt over the future status of the committee still exists in the minds of Socretary McAdoo and other treasury officials, it was said. Restraining Influence. Some advocate that congress be asked to give the committee compulsory power, which it now lacks, and without which it is feared it cannot make its restrictions effective after the ardor of wartime cooperation co-operation among business interests has cooled. O tiiers suggest that the functions func-tions of the committee be taken over by a treasury agency to which tho president might delegate his power, conferred by the fourth Liberty bond act. to regulate the sale of Liberty bonds. In this manner man-ner it might be possible to require promoters pro-moters who exchange t heir seen rit ies for Liberty bonds to report regularly the amounts of bonds thus taken In, and ' these reports, It is felt, might aCt as a restraining influenco. This policy, when formulated, will be set forth in a statement by the committee. commit-tee. This may be issued within a few days. i Special effort will be made to discour- , age the floating of questionable or highly speculative security issues. Although without with-out authority to coerce promoters, the committee must rely mainly on the co- , operation of Investment bankers and other banking interests, whose leaders have as- sured the committee of support. |