The chronicle=news., 1913-12-23

| stock OF the regional reserve bank.
equal to six per cent of the member
banks "a a.'i,ai and surplus. The
capital OF the Iegionui banks will in.
ereas. ar decrease sO that It always
represents siA per cent Of the COM
bined capital and surplus OF all III.
banks of the district that hay. Joined
the system,
National banks are .Oni peiisi tn
Join and state hanks are permitted to
" the, brine their reserve reiuitr-
ia-nts up io the standard set for ma
iionai banks and submit Ia national
exam nations.
tnbii. o~6-fshi. of ,h. stock oi
til. regional Te-1r,. banks l. permit
ted only in ease enough banks 10 not
join in any district 'o provide eapi-
tai stock OF si,""s. soc. Ia such
| event the I"iJiir may purchase III.
sio-s in auahii,i-s limited To So. go"
for -arh individual but til. So'inr
Of ihis stock ~iii b. placed in the
hand. of government representative
on the board Of air"stoT. ~ the r--
Ei.nai r.-s-Ty- bank.
The regional reserve bahks nas 10
susiH-,. .niy With their m.mb-i
hanks. ns, With the pnbiir. except
that certain oi-'n market oirFo-
tioSs such a. the purchase sni sal.
of s.ld. sos-Thm-n, ar municipal
hands aIa certain forms si bills nj
-sshans- ar permitted. rh'ss
hanks ~ill inaA- their earnings from
the leans made 4" n-nb~T banks ahd
from the purchase shh .sI~ "f bond,
aud t.g-lsn bills .f ">.Lans.
M-na,-~T i.aax. ~iI, s-' compelled ,s
pea, a. IN ash anls .n.-haiG ot 'b-i'
sal IptIon tn ts- capital "f III. u-e
banks. The r-msina-r .7an b. rsii-s'
for " n-.i-i Ly the 'esionai bank
INV ID. a.ts at @is i'sg .-as siil II. pai4
tn this s,s-s 10 m-His-r hanks aus
,a.s sis~i .iit be nonstasabi-. Ntirr
th-s- disIaeads arr raid on--haif ai
shs surplus HUi earnings SUES 4" sr.s
ss- = regional surpiu. fund ani ~h-I
ihis hs. ,-s he'd fss'y p-F '-n' "f 'hr
regional task. psIi.in sapisai. th-s.
varhihs. ai- to 60 iHi. the United
- ts,-s Treasury Tn. balance Of ihe
a., earnings aE- I" b. tsaia I" tbs
uHi,-'i state. a. . tr,nrh,s- iss.
with til. msSs,n-ry thus s1-ai-.
for . nS~ baking .ss'.n that !. .ap.
u. n,vasary Io .he commercial taaahs
o. the soiussy. the is~ pro, id.s '"s a
eusiusi transfer Of psEs IT the hank
i.scrvrs TO thps- h-s ''rv~~r,oif
banks In order ~, to it.iarh 5usi'
u-s. conditions ut Z" Withdraw Il.
,ujd~uiy the h-s,s i-.,.ssi'a "f ."s,r'
,r, hasts ia i.'u i,rs- sisi-s 'h. Las
provide, ihs, 'hF-- years ma, b.
s.s suu,-.l Ia sbiiins tlirsr bsiasr.
sni ina, " accessory pat II IL.
reserves ;Faasf.rr-i 's til. '-zionai
hanks may cvssiss "s commercial pa'
per
The .m.I.t at T-s-tsr required
ffum ~,-sy hank under the ar~ i.~
and tho place where n must be- k-p,
st- a. friio-ss
's.r,rr banks Total reserve ~
ygir-'. - p's .-ui "f demand drros
iis and live per cent of time dcIus
It's F,N.-t~ ,it,hs 'au.; b. held u
the banks "~a vaults for tao year
and tour-,~-it,hs after that time.
fvt the first year. ,e"-i~sIf,hs mus
h~ k.,t in the regional bank. incI-asa
ini on-.'-.Is,h zach siN month
thereafter. until II reaches nv
t~-lfth-. "r the total reserve ra
three year. the nnaiio''.d Part 81 ih'
reserves ms, be krp, in the banks it
r-s"rV" cities. after that il Must ~
kept i. the yyunJry banks vaults ~
in the regional T"s"T," bans,
EoasEN. city Hank. Total r--"rN.
required. - per cent "' demand ans
five per cent uf time deposits. Sis
ht,-.n,hs must be Kept in til" banks