Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-08-27
DISTRICT SHARES
CROP-M0V|NGF FUND
Half Million Allotted to Local
Banks From Total of
$45, $780, 900.
SPECIAL AGENTS NAMED
TO PASS ON SECURITIES
Western and Southern States En-
abled to Avoid the Blocking of
Farm Products.

or the s0o.oo0.00O to be deposited by
'ne government in national banks of
| the west and south to facilitate the
movement and marketing of crops. the
superintendent Of $455OO,OOO has been
| announced by the Secretary of the
Treasury. Of this amount $4,000 600
goes to banks in fourteen western
states. and 21,s00.OOO to the thirteen
southern states and the District of
Columbia.
| 10 the District of Columbia $500, 900
| is allotted. j. Selwin TAFT is designated
| as the representative of the govern
| nent to pass upon commercial paper to
be offered by local banks applying for
a part of the crop-moving funds.
The southern banks have asked that
their share Of the funds be deposited
in August and September Those in
the west want the money apportioned
to them during September, October and
November.
The money will be allowed to remain
on deposit on an average of four or
five months. All is to be returned not
later than next April. The southern
bankers who get their money first, III
December, will begin turning it back
into the treasury in. monthly install
ments.
Statement of Secretary McAdoo.
In a statement announcing the appor-
tionment Secretary McAdoo said
'.The funds are deposited in the banks
in the west and south at this time be-
cause 1t is believed that there is a special
demand for the money to assist in mar
keting OF the crops which are now being
harvested in these particular sections.
but if in the east elsewhere it should
be shown that there is need for the
temporary use of funds for similar legit-
innate purposes the government will be
quite as ready to extend similar aid
Many factors were taken into consid-
GRAFTON in arriving at the appOrtiOnment
Of deposits in the west and south.
among these the Secretary said,
were the immediate needs OF the iocali-
ties sas reported by the committees Of the
clearing houses in the conferences held
with them in Washington, the capital Of
the different national banks and the
character of business transacted by
them; the amount Of money which these
banks are at the present time advancing
to their country bank correspondents
and the additional accommodations which
they expect to extend to these CORE
spondents: their present condition as
shown by the last controllers call: their
outstanding circulation and the amount
Of rediscounts they may have made in
their efforts to meet the legitimate de-
mands made upon them Of customers and
correspondents"
Government Interests Guarded.
In each depository city the, government
has chosen a special representative, who
will serve in conjunction with a clearing
house committee of five to pass on ali
commercial paper recommended as Sc
curity for deposits. and all paper before
oYoivY ,,YC1N
recommended by this committee.
Following are the amounts allotted to
each of the western states. the cities
designated as repositories and partial
list Of the governments representatives:
Colorado. s1,olDGoU, Denver. Richard II.
Malone. California. s3UOO,OOO, Los An
gees and San Francisco Illinois. 81
OoJ.WD. Chicago. j. V. Farwell. Indiana.
81. 100000: Evansville, j. W. Boehne: Fort
Wayne. William +. Breen; Indianapolis.
William l.. Elder. Iowa. SlUD.OUO. Des
MONIES, Sioux city. Martin J. Wade.
| Kansas. So5o.Go0. Kansas City and Wich-
| tia. Minnesota s.,OOO.OOO. Minneapolis,
r. NJ Hurst: st. Paul. \. NJ. Peabody,
and Duluth. Missouri s5,OOO,eOO. Kansas
), City and St Louis, T.. G. Simmons Ne
| braska 81 200. CO., Omaha and Lincoln. A.
| S. 'ribbets. Oklahoma, 100000. Muscosee,
| Francis 3. Fite, and Oklahoma City. HUI
| bert l.. Foen. Ohio. s. 100000. Cincin-
| natl. Franklin Alter; Cleveland. +. II.
| Baker and COLUMBUS, Butler Sheldon.
Oregon. 100000 Portland. Henry Teal.
| Washington. 81. 10000, Seattle, Spokane
| Daniel N. Drumheller Wisconsin. $1,000
| Coo. Milwaukee.
| Allotment to the South.
| Following are the amounts allotted to
each of tie southern states. the cities
designated as repositories and a partial
| list OF the governments representatives:
! Alabama, s1.5UOOOO. Birmingham, E. NJ.
| Tutwiller: Mobile. Albert Bush: Mont
! somery w. A. Gayle. Arkansas, $6OO,OD
| Little Rock. w. NJ. kavanaugh. Florida,
| :l.1.OGDO, Jacksonville. Pensacola. j. B.
! Mcneil; Tampa. Georgia. s1.700.c.O. At
! Anderson: augusta, William IL. Barrett:
| Macon. William IL. FELTON,. jr. Kentucky.
| I,G'UtNO. Lexington. j. T.. Cassidy;
| lie uisville.
| Louisiana, so,6OOCoU New Orleans. W.
T. Eardie. Shreveport. MARYLAND. S.
100000, Baltimore. William c. Page.
Mississippi. 100000, jackson. W. Q. Cole;
| Harding North Carolina. $1,000, 600,
Charlotte. E. r. Preston; Greensboro. r.
r. King; Wilmington, Hugh McRae:
| Raleigh Charles E. Johnson. South
Carolina. s1.5OO.OOO. Charleston. Mai.
Henry Schachte: Columbia, William II.
spartanburg. Augustus W. Smith. Ten
nessee, $1,850OOO. Chattanooga. w. F.
Kalb; Knoxville. Samuel B. Luttrell;
| Memphis. Samuel P. Read: Nashville,
| Joseph II. Thompson. Texas. $2,3OO.OOO.
Dallas. Alexander Sanger: Fort Worth.
| Houston, Galveston: /. H. kempner, San
Antonio. Virginia. $1.45O.OOO Lynchburg.
4. S. White; Norfolk. Walter IL. TAYLOR:
| Richmond. Z. l.. Bemiss: Roanoke. Dis
| :r;ct NJ Colunhio washington $5l0 600.