Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-12-26
Washington Clearing House
Members May Vote to Make
Formal Request.
400 INSTITUTIONS SEEK
MEMBERSHIP IN SYSTEM
McAdoo and Houston Busy Planning
Reserve Districts ts-May Make
Personal Inspection.

The first steps to obtain for Washing
| ton the location of one of the regional
reserve banks provided for under the new
currency system will be taken today. A
meeting of the Washington Clearing
House Association has been called for
4:3O O'Clock this afternoon, at which time
plans for the selection of Washington
will be discussed. 1t is understood the
| association will vote to make formal
request that one of the regional banks
be established in Washington. The meet
ing will be held at the headquarters of
the association in the Metropolitan Bank
building
Local bank officials are practically
unanimous in the belief that one of the
banks should be located here and they
are determined to exert every effort to
accomplish this object.
The fact that Washington is the capital
of the nation and that the federal reserve
board will have Its headquarters here are
reasons advanced by local bankers why
one of the reserve banks should be estab-
lished in this city.
Will Decide Upon Number.
The organization committee, composed
of the Secretaries Of the Treasury and
Agriculture departments. will decide upon
the location of the banks, and also the
number to be established. Under the law
there may be between eight and twelve.
More than 400 national banks and trust
companies, representing every state and
almost every large city in the country.
have applied for membership in the fed
eral reserve system of banks, according
to an unofficial estimate made today by
the Treasury Department.
Application for membership was made
today by the COMMERCIAL National Bank
of this city, the aNtional Bank of Alex
andria. Va. and the Citizens National
Bank of Alexandria, Va
Applications Coming Fast.
Applications have come SO fast that Of
ficials have been unable to keep pace
with them, but a careful count and record
of the time when they were received
will be made today.
Boston have not applied in great num-
bers for membership. but Secretary
McAdoo is of the opinion that their
applications soon will be forthcoming.
Mr. McAdoo and Secretary of Agricul-
ture Houston, the organization commit
tee provided for in the law. got down
to hard work today on plans for the
division of the country into reserve
districts and the location OF reserve
banks. An official announcement of the
plan is expected tonight or tomorrow.
1t is probable that a personal inspec-
tion will be made by the two secre-
taries covering much of the country.
Working Hard for Atlanta.
Senator Hoke Smith of Georgia came
to the office of Secretary McAdoo early
today armed with pocket full of
papers covered with statistics. bank
clearings, railroad insurance and other
business operations in which Atlanta
has shown activity in the last few
years Senator Smith is leading the
fight of Atlanta for a reserve bank.
Among cities from which applications
for membership III the federal reserve
system came today were Florence, S. c.;
E1lensburg, Wash; Rushville. Ind; Del
ayan, H.; Seaford, Del; Philadelphia;
Lancaster, s. c.; Greeneville, Ohio; Mum
Gle. Ind: Salisbury. n. g.; Ponca. Okla. !:
Bottineau. y. D.: Williamsport, Pa; /;
Princeton. =. j.: Glasgow, KY: Etowah,
Tenn; Luverne. Mimi: Lacrosse. Wash. !;
Ludngton, Mich. Richmond. Va; Chats
worth H.; New Bedford, Mass: Union
Vile, Mo-: Shreveport, La: Pueblo. Col. /;
Syracuse, N v: Dallas and Sherman.
Tex The Hudson Trust Company of
New York was another applicant. bring
ing the total from that city, so far. up to
three