The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-08-05
Secretary McAdoo Calls on
Clearing House Associations
of So Cities in South
and West.
WILL DISCUSS THE.
PROMISED DEPOSIT
Whole $50, 900, ,O0O Is to Be
Turned Into Circulation for
Crop Moving Purposes, if
Situation Demands 1t.
BY International News Service

By international News Service.
WASHINGTON, Aug. 4.-By direc-
tion of Secretary McAdoo, kilograms
were sent today to the presidents of
the clearing house associations of fifty
nine cities in the west, sonth and on
the Pacific coast, inviting the associa
tions in each of these cities to send a
representative or committee to Wash
ington to discuss arrangements rela
tive to the deposit of the $50,000,000
government funds which the secretary
proposes to make in the different sec
tions to facilitate the movement of the
crops.
The conference with the representa-
tives Of the clearing house associa-
tions in the south will be held at the
treasury department on Thursday
morning, the 7th instant. The rep
resentatives of the western cities
will meet the secretary at the treasury
department On Friday morning, the
Sth, while the representatives from
the clearing house associations on the
Pacific coast will meet at the treasury
department on Thursday, the 14th.
Cities Represented.
The cities which have been invited
to have representatives at these con-
ferences are as follows: Birmingham,
Mobile and Montgomery, Ala; Little
Rock, Ark; Los Angeles and San Fran
cisco, Cal; Denver, Colo; Tampa and
Jacksonville, Fla; Atlanta and Sa,
vannah, Ga; Chicago, Ill; Evans
vile, Fort Wayne and Indianapolis,
Ind; Des Moines and Sioux City, Ia; +;
Kansas City and Wichita, Kan; Louis
vile, Ky; New Orleans, La; Balti-
| Miss; st. Louis and Kansas City,
Mo; Minneapolis and st. Paul, Mimi.
Detroit, Mich; Charlotte, Wilmington
and Raleigh, n. c.; Omaha, Neb.; Ok
lahoma City and Muskogee, Okla
Portland, Or; Cincinnati, Cleveland
bia, Spartanburg and GreenvilIe, S.
c.; Chattanooga. Knoxville, Memphis
and Nashville, Tenn; Dallas, Calves
ton and San Antonio, Texas; Rich
mond, Norfolk and Roanoke, Va;
Wheeling, w. Va; Seattle and Spo-
kane, Wash; and Milwaukee, Wis.
Will Not Be Increased.
The secretary sald that II is not prac-
| n nf
which are to be represented at the con-
ferences and that he thought those Sc
lected were thoroughly representative OF
the different sections of the country
where the crop-moving funds are to be
placed.
Treasury officials declared that the en-
tire $4,000. 900 which has been offered
will be deposited If the situa ton demands
it It WAS explained that care would be
taken to prevent any undue imitation OF
the circulating volume OF money and that
the government would deposit only what
, was needed to assist in moving the crops
with the stipulation that IT must he re-
turned to the treasury as soon as that
need shall have passed. At the confer
ence with the bankers. Secretary Nc
Adoo will discuss the amount needed and
, the dates to be named for the gradual re-
turn of the money to the government,
The treasury department expects to be.
gin making the deposits before the close
l Of August and gradually 10 feed tn,
money into the selected centerS as the
e dema nds grow through the crop moving
3 period,
Thomas w, Boyer. president of tn
. Salt Lake City Clearing House associa
= | tion said last night that he had re
: ceived no invitation to attend the con
h ference In Washington and would no
l. | consider attending II without intimat tio
d that he WAS expected there. When III
y first announcement regarding the dlstri
: button OF the money for the benefit o
those moving the heavy crops was made
presidents of Salt Lake City nationa
banks expressed the opinion that littl
II any OF the money would come to Sal
Lake City, but that It's distribution else
J where would benefit Utah indirectly.