The herald and news. [volume] (Newberry S.C.) 1903-1937, 1913-08-08
CITES TO SHARE
IN CROP-MOVING FUND
CHARLESTON, GREENVILLE AND
SPARTANBURG INVITED.
Secretary of Treasury Asks Bankers
of 50 Cities to Washington to
Discuss Distribution Among
of $50, 100000 Fund.

Washington, August 4.-Represen-
tative bankers of ffty-nine large cities
in the agricultural regions Of tie
South Middle West, and Pacific coast
today were invited by Secretary Nc
Adoo to come to Washington to con-
fer with the treasury department re-
garding the distribution Of the S3O,-
100000 of government funds about
to be deposited in national banks Of
those districts to facilitate the mar
keting and moveenmt of the crops.
This unprecedented step, which will
call to Washington bankers from the
centres that will finance the handling
of the great crops soon,to be harvest
ed, is designed to give the secretary
first hand information as to the specl-
ic and relative needs Of each of the
farming districts. 1t has been decid-
ed to place the deposits in the fifty
eight cities to be represented at the
conference Invitations were sent by
telegraph to the presidents OF the
Clearing House associations in each
of the cities asking them to send re-
presentatives or committees to Wash
ington to discuss arranemgents for
depositing the big sum. The confer
ence with the representatives from
the Southern cities will be held at the
treasury department, Thursday, Au-
gust Z, with those of the West Friday,
|, August s, and with those from the
q Pacific coast, Thursday, August IA.
Cities to be Represented.
These cities have been invitd to be
represented; Birmingham, Mobile
Montgomery, Ala, Little Rock, Ark,
Los Angeles, San Francisco, Cal, Den
yer, Col, Tampa, Jacksonville, Fla;
Atlanta, Savannah, Ca; Chicago, Ill;
Evansville, Fort Wayne, Indianapolis,
Ind; Des Moines, Sioux City, Ia;
Kansas City, Wichita, Kas.; Louis
vile, KY, New Orleans, La, Balti-
more, Md, Vicksburg, Meridian, Miss;
ST. Louis, Kansas City, Mo; Minnea-
polls, st Paul, Mimi; Detroit, Mich
Charlotte, Wilmington, Raleigh, n.
c.; Omaha, Neb.; Oaklahoma City,
Muskogee, Okla; Portland, Ore, Gin
cinnati, Cleveland, Columbus, Ohio;
Charleston, Columbia, Spartanburg,
Greenville, S. Cn Chattanooga, Knox
vile, Memphis, Nashville, Tenn; Dal-
las, Galveston, Houston, San Antonio,
Texas; Richmond, Norfolk, Lynch
burg, Roanoke, Va: Wheeling, W. Va,
Seattle, Spokane, Wash; Milwaukee,
Wis.
Thoroughly Representative.
Secretary McAdoo announced that
it was not practicable to increase the
number of cities and that he belieV-
ed those selected were thoroughly re-
preventative of the agricultural Sec
tions.
Treasury officials declared the en-
tire $50,OOO,000 will be deposited If
the situation demands it. 1t was ex-
planned that care will be taken to pre-
vent any undue imitation of the circu-
Iation voluu,e of money and that /.
government would deposit only what
was needed to assist in moving the
crops, with the stipulation that 1t
must be returned to the treasury as
soon as that need shall have passed,
At the conference with the bankers
Secretary McAdoo will duseuss the
amount needed and the dates to be
named for the gradual return of the
money to the government,
The treasury department expects TO
begin making the deposits before the
close of August and gradually to feed
the money into the selected centres
as the demand grows through the crop
moving period.