Omaha daily bee., 1911-06-11
BANKERS NATIONAL RESERVE
State Banks and Trust Companies
Eligible TO Membership.
PLANS OF ASSOCIATION w1DENED
accommodations of the Special Com-
mittes Announced by Festus
J. Wade, ST. Louis
Banker.

state banks and trust companies will be
admitted to all the advantages Of the pro-
jected National Reserve association, in
accordance with q plan Of the special COM
mittee appointed jointly by the Natior al
Monetary commission and the American
Bankers Association Currency commission.
The plan was announced In st. Louis by
Festus j. Wade. president Of the Mercan-
tile National bank. who is chairman Of
tbs special committee.
The scheme provides that state banks
and trust companies may, without nation
alixing. become members Of the National
Reserve association, under practically the
same conditions as the national banks
The special committee includes Mr.. Wade,
eol Wexler, John Perrin. Myron T. Her
rick and Joseph T. Talbert The commit
tees recommendations arc:
That q bank or a savings bank which
Is Incorporated under the laws of any
state, in accordance with the require
ments Of which It has been examined and
has published statements Of it's condition,
or, in the absence Of such requirements Of
state laws, upon approval of the executive
committee of the National Reserve ASSOC
citation, may subscribe to the capital stock
of the National Reserve association in the
tons as prescribed for national banks,
and such subscribing bank shall become a
member OF a local association and have
this same rights and privileges therein az
n II were a national bank; provided
That It shall have paid-in capital OF
not less than required for national bank
in tho same location.
Same Reserve Required.
tain against its demand deposits a reserve
OF like character and proportion required
of a national bank in the same location;
provided. however, that deposits which II
may have with a state bank, a savings
bank. or trust company. in a city desig-
mated in the national banking act as a re-
serve city or central reserve city, whose
paid-in capital is not less than the mini
mum amount required for a national bank
in such city, and in the case of a trust
company, not less than that hereinafter
specified for a trust company in such city,
and which is a member Of a local associa-
ton, shall count as reserve in like manner
and to the same extent as similar deposits
OF national bank with national banks
In such cities.
Provided further. that liabilities for de-
posits payable beyond thirty days and for
savings deposits subject to notice of sixty
days or more, shall not be subject to the
reserve requirements provided for demand
deposits.
That It shall agree TO submit to such
examinations and comply with such re-
qulrements as may from time to time be
prescribed by the National Reserve asso-
citation.
The Trust Companies.
That trust company, which is incor-
porated under the laws OF any state, in
accordance with the requirements of which
Il has been examined, and has published
statements OF it's condition, or, in the
absence of such requirements of state
laws, upon approval. of the executive COM
mittee Of the National Reserve associa-
ton. may subscribe to the capital stock
of the National Reserve association in
the same manner and under the same
conditions as prescribed for national
banks, and such subscribing trust COM
pany shall become a member OF local
association and have the same rights and
privileges therein as II it were national
bank; provided
That a trust company shall have an
unimpaired surplus OF not less than 20
per cent OF it's capital, and, II in a city of
NO,VUV less Sndl nave u
paid in capital Of not less than 100000.
and in a larger city a proporuonately
greater capital up to 100000 in a city of
800 600 Inhabitants or more.
THAT II shall have and agree to main
tain against its demand deposits a reserve
of like character and proportion required
of national bank in the same location;
provided, however, that deposits which II
may have with a state bank, a savings
bank or trust company, In a city desig-
mated In the national banking act as a
reserve city or central reserve city,
whose paid in capital is not less than the
minimum amount required for national
bank in such city, and, in the case OF a
trust company not less than that hereto
fore specified for a trust company in such
city, and which is a member OF a local
association, shall count as reserve in like
Mariner and to the same extent as SINH
lar deposits of a national bank with ma
tonsl banks in such cities.
Provided further. that liabilities for de-
posits payable beyond thirty days. for
savings deposits subject to notice Of sixty
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