Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1914-04-03
TWELVE RESERVE DISTRICTS
Bank Organization Committee Makes
Its Report

10 nVpStS
After three months Of consideration
the reserve bank organization commit
tee last night announced that 1t had
divided the continental United States
into twelve banking districts and Sc
lected twelve cities for Federal reserve
banks under the new currency law.
This was the first decisive step toward
the establishment Of the new system.
The cities and districts are:
District No. 1, Boston-Reserve bank
will have capital Of $9,931,7 TAO, with 446
National banks as members. Territory
includes New England states.
District No. 2, New York-Capital
20,6S7,616, with Ats National banks
and number Of state banks (not CIV
en), as members. Territory, state Of
New York
District No. 3, Philadeiphia-Cap
$12,993,013 including 500 National
banks and several state banks. Terri
tory New Jersey and Delaware and all
Pennsylvania east of western boundary
of following counties: Mexican. Elk,
Clearfield Cambria and Bedford.
District No. 4, CHRONOLOGICAL
$11,621,535 with 724 National and sew
eral state banks. Territory state Of
Ohio, all Pennsylvania lying west Of
District No. 3, the counties Of Marshall,
Ohio, Brooke and Hancock in West
Virginia and all Kentucky, east Of the
western boundary Of the following
counties: Boone, Grant, Scott, Wood
ford, Jessamine, Garrard, Lincoln, Pu-
laski and McCreary.
District No. 5, Richmond-Capital
$6,543,2S1 with ATS National banks and
a number OF state banks and trust
companies. Territory District Of CO.
Iumbia, Maryland, Virginia, North
Carolina, South Carolina and all West
Virginia except those counties in Dis
trict No. 4.
District No. 8, Archaeological $4,-
703,780 with 372 National banks, etc.
Territory Alabama, Georgia, Florida,
all Tennessee east Of the western boun-
dary Of he following counties: Stew
art, Houston, Wayne, Humphreys and
northern boundary Of the following
counties: Issaquene, Sharkey, Yazoo,
Kemper, Madison, Leake and Neshoba;
all the south eastern part Of Louisiana
east Of the west boundary Of the fol-
lowing counties: Pointc Coupee Iber-
vile, Assumption and Terrebonne.
District No. Z, Chicago-Capital $13,-
151,925, with 984 National banks, ETC.
Territory Iowa, all Wisconsin south Of
the northern boundary Of the following
counties: Vernon, Sauk, Columbia,
Dodge, Washington and Osaukee; all
Of the southern peninsula Of Michigan,
viz: All that part east of Lake Michi-
gan; all Illinois north Of a line forming
the southern boundary Of the following
counties: Hancock, Schuyler, Cass,
Christian, Shelby, Cumber-
land and Clark; all Indiana north Of a
line forming the southern boundary Of
the following counties: Vigo, Clay,
Owen, Monroe, Brown. Bartholomew,
Jennings, Ripley and Ohio.
District No. 8, st. Louis-Capital $6,-
219,323 with 434 National banks. etc.
Territory Alabama, all Missouri east
OF the western boundary Of the follow
ing counties: Harrison, Daviess, Cald-
well, Ray, Lafayette, Johnson, Henry,
st. Clair, Cedar, Dade, Lawrence and
Barry; all Illinois not included in Dis
trict No. Z, all Indiana not in District
No. Z, all Kentucky not in District No.
4, all Tennessee not in District No. 6,
and all Mississippi not in District No.
6.
District No. 9, Minneapolis-Ca
81, 4,702,S64 with 6S7 National banks, etc.
South Dakota, Minnesota, all Wiscon-
sin, and all Michigan not in District
No. Z.
District No. 10, Kansas City-Capi-
tai $5,594,916, with 1886 National banks,
etc. Territory Kansas Nebraska, Colo
rado, Wyoming, all Missouri not in
District No. s, all Oklahoma north Of
a line forming the southern boundary
Of the following counties: Ellis. Dew
ey, Blaine, Canadian, Cleveland, Pot
Seminole, Okruskee, Nc
Intosh, Muskogee and Sequoyah, all
New Mexico north of line forming
the southern boundary Of the following
counties: Mckinley, Sandoval, Santa
Fe. San Miguel and Union.
District No. II, Dallas-Capital $5,-
634,091, with 726 National banks. etc.
Texas, all New Mexico and
Oklahoma not in District No. 10, all
Louisiana not in District No. 6 and the
Graham, Greenlee, Cochise and Santa
Cruz.
District No. IL, San Francisco-Cap-
ital $S,115,524 with 514 National banks,
etc. Territory California, Washington,
Oregon, Idaho, Nevada and Utah and
all Arizona not included in District
No. IL.
The organization committee was not
by law to provide for
branch banks of the Federal reserve
banks, but the act specifically states
that such banks shall be established.
This task will be left to the super
vision of the Federal reserve board
yet to be appointed by President Will
son. The organization committee an
that all information 1t has
collected shall be placed at the dis
posal of the banks and the board
when the establishment Of branch
banks is considered.
In its announcement the committee
called attention to the fact that un-
der the requirements Of the act, 1t
could not find grounds for the estab-
ishment of more than one bank on
he Pacific coast but held out the
nope that in the near future another
bank would be authorized by congress
and located somewhere in this great
section.
The next step to be taken by the
committee will be noti-
1cation to banks entering the system
If the plans for the districts. This
will follow the formal
today Of the commit
ee's action to the comptroller Of the
Within 80 days after such
notice is received by banks, each un-
Ter the law must begin the payment
or Is stock in the reserve bank in
IS district. Each bank must subscribe
per cent Of it's combined capital and
surplus and the capitalization an
for each district is based on
his per cent subscription.
The payment Of subscriptions byI
,anks will be spread over many
months but in the meantime Presi-
lent Wilson is expected to name
members Of the Federal reserve
BOARD. The president on Wednesday
aid that owing to the fact that the
process Of organization will take some
ime no immediate announcement will
De made He said an announcement
nay not be made for at least a
month or longer.
In reaching it's decision, the COM
nittee last night pointed out it visited