The Sentinel=record., 1913-12-27
GOVERNMENT OUTLINES PLANS FOR MARKING THE BOUND
 ARIES OF RESERVES.
TO HOLD PUBLIC HEARINGS
In Fourteen of the Large Cities of the Country to Outline Districts and to Select the Cities to Possess the Re- serve Banks.

Washington, Dec. 26.-The organi- zation committee which is to launch the new federal reserve system for the nation, today announced it's plan of action for marking out boundaries of reserve districts and the selection of federal reserve cities. Public hear ings will be held in fourteen large cit ies of the county. New York, Boston, Chicago, St. Louis, Denver, Seattle, Portland, Ore, San Francisco Los Angeles Houston, Texas, New Or leans, Atlanta, Cincinnati and Cleve- land
 Although these cities are the only ones to be visited it was announced that the advantages of many others would be considered and that bank CTS and others interested in cities not named in it's list would be heard. The two cabinet officers composing the committee will spend practically all of the next two months in this work and they expect to conclude their la bors about the end of the period that is given all national banks in which to announce their intention of becom- ing members of the system. It will not begin hearings until next week.
 Secretary McAdoo left his office to- day suffering from a slight fever and the other committeeman, Secretery Houston, decided to abandon the task until MT McAdoo reeovers. It was said tonight that the hard work Mir. McAdoo did to aid in perfecting the currency law has told on him. He was a constant adviser of both the Senate and House committees and shouldered much of the burden of rep resenting President Wilson in execu- tive consideration of the bill, when it was in Congress. His Illness is not believed to be serious. but he is not expected to return to his desk for several days The committees an nouncement follows:
 "A meeting of the majority of the members of the federal reserve or ganization committed consisting of the secretary of the treasury and the secretary of agriculture, was held to- day.
 "The committee decided to forward immediately to every national and state bank and trust company a copy of the federal reserve act, together with the form of application for mem bership in the federal reserve sys- tenn
 Under the provisions of the fed eral reserve act all national banks are required to signify their acceptance of it's terms and provisions on or be- fore February 12, 1914, and state banks and trust companies are per mitted to signify their acceptance within the same time.
 Tt was determined that the organ ization committee will have hearings in various important cities for the purpose of securing the views of bank CTS and business men as to the divi- sion of the country into federal re- serve districts and the location in each district the head office of the federal reserve banks. which are to be established under the federal Ie- serve act.
 It will not be possible for the com mittee to hold sessions in any other cities, but ample opportunity will be given for representatives of various sections of the country contiguous to these cities to appear before the com mittee and present their views. It must not be inferred that the commit tee has determined upon any one of these cities as a location for the fed eral reserve banks; they have been chosen as places for holding sessions of the committee solely because of their accessibility and convenience.
 "The committee will sit at the GUS tom house in New York on January ? and 3: in Boston on January 3 and 6. and return to New York for addi tional sessions January and 9. The committee will sit in Washington from January 12 to IT. in Chicago January 19, 20 and 21; St. Louis, Jan uary 22, 23 and 24; Denver January 26. Hearings for the other cities vii be held between January 2S ant March 1. Wherever possible the hear ings will be held in government build ings.
 "The committee desires to be in
 
 formed particularly upon the follow ing points, which are considered pri mary factors in determining the boun