The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-12-29
JOIN IN CAMPAIGN
To BRING REGIONAL
BANK To RICHMOND
Bankers and Business Men De-
clare City Must Extend Its
Energies to the Utmost to
Accomplish Purpose.
Two Meetings Will be Held
This Afternoon at Business
Mems Club. Promine Mt
Bankers Tell Virginian
Readers What to be Done.

Richmond bankers and other business
men OF the city have decided to allow
no stone TO remain unturned In their
efforts to have the federal reserve
board name Richmond as the location
Of one of the regional reserve banks,
to be established under the new cur
reney system.
Many bankers of the city who were
interviewed last night announced that
they intended TO enter the fight In
earnest not only through civic spirit
but because Of the commercial advau-
tages that would be connected with
tue placing of such a bank here. They
also said that II would be u great nd
vertisement for this city and would
emphasize the fact that Richmond, and
the surrounding territory must have
great resources, both natural and
otherwise, to warrant the locating OF
one OF these banks here-thus maxi
ing IL the commercial center of the
Southern Atlantic states.
Two Meetings To-day.
1t Is expected that the bankers Of
Richmond will turn out en- masse for
the meeting called for this afternoon
ness Mems eluh, which lis to be held
this afternoon, in the rooms Of that
organization, for the purpose of dis
cusslng this and other questions; such
as the proposed public library and the
Medical college offer Of the use OF its
hospital.
Richmond is handicapped inasmuch
SLlsa IL tt4a terms this fight. the
meeting today being the irst step
which has been taken to attempt TO
obtain this concession.
Hearings viii be held BY the reor-
EauizatIon committee Of the new cur
rency system. composed OK the seere-
taries Of thu Treasury and Of asricul-
ture and the comptroller OF the cur-
rency, when he shall be appointed
These hearings will be held at diff
fcrert times in various cities of the
country. The hearing at Washington.
which is the one the Richmond repre-
sentatives must attend. will be held
from January t2th TO the 18th.
The feasibility OF sending represen.
tatives to the Atlanta hearing to COM
bat the arguments OF the Georgians. ia
also being discussed and it was said
last might that. in all probability this
viii happen. Tho meeting at Atlanta
Will be held some time after January
2Sth.
HAfhSfeHU ss0Eieas t'iAces
Talking to q virgnian reporter last
night on this question. o. ]. Sands.
president of the American National
bank. said Il think that II the federal
reserve board gives New York one OF
these banks. the natural and only fogi-
cal location for the next one In q
Southerly direction is Richmond.
II do not see how, II person were
to take 4 map of the United States and
try to locate the twelve commercial
centers OF the country. Richmond could
fail 10 he among them.
u think that this would be the best
thing. commercially. that has happened
to Richmond for many years. IL would
serve as a great advertisement for the
city and would mean recognition from
the rest Of the world. There Is no
doubt that Richmond has a great many
facilities as a commercial center OF
this section and think we should all
cooperate in our efforts to bring this
about"
When asked if he thought that the
locating Of one of these banks IN
Atlanta would hurt Richmond imam
cially. Mr.. Sands said 1t would never
do for this section to be connected
with Atlanta and ! am of the opinion
that material harm would be done II
this should come to pass. II
would be far better for us to be con-
nected with a region to the North
of ds."
Must Work Together.
when asked to express his views on
the subject last night Thomas R. Mo-
Adams, cashier of the Merchants Ma
tional bank said: Il think this would
be a great thing for Richmond. mas
much as it win bring us In closer
touch with the Western part of the
state and with West Virginia than
ever We were before.
"In entering this fight we must get
TO the federal reserve hoard and must
all stick together---this is a fight that
can only be won by cooperation.
'ln the question of the shipment Of
currency, it Is very essential that the
regional bank should be situated In
thu center of the district it is 70
serve. where shipments viii not con-
surne more than twelve hours. We
are particularly well situated as far
as the Caroiinas and Virginia are
concerned, and II Atlanta should be
given the hank IL would do us great
harm, as that would mean putting
South Carolina in her territory
Great Thing For Richmond.
James y. Boyd. president OF tho
Planters National bank. said. II Am
not prepared TO issue any statement
other than that l think 1t would 10 o
great thing for Richmond.
II think we stand a fair show IN u
this fight which. in my opinion, will
be betwe cen us and Washington. hutN
we are conservative people here In
Richmond and IL the president SAYS the
bank IS TO go to Washington we Will
not have a word TO say-but we'd ~
obliged to him il he gave II to m.
S. p. Jones vice. president of thAS
Main street bank hen Interviewed taAt
night. said IN view OF the fact thA1aS
Richmond IL the gateway Of the koutAs
think that ii in the only logical piAS0Ss
Tor. a regional bank. Richrncnd III thN3
recognized financial center ef this AS9sg
ton and we want to do our pMEt TN
securing the bank for this stty. q
only for our own rnattves yvhAlsS
they may hs. hut for the sake az 4 \