The Palatka news and advertiser. [volume] (Palatka, Fla.) 1908-19??, 1914-02-20
BOARD OF TRADE
ACTS PROMPTLY
In Endorsing Jacksonville as
Location for one of the
Regional Banks.

Regional Banks.
At the regular meeting of the Pa
latka board of trade on Monday night
several matters of Importance were
brought to the attention of the body
by the ever watchful Secretary.
In the first place the secl etary of
the State Chamber of Commerce had
written the local beard asking its
support in a protest against excess
sive rates of the express companies,
but this State secretary. being a sort
of impetuous youth OF the kind VINO
is liable to shoot at half-cock and had
gotten his facts and figures all balled
up, Secretary Folsom wrote him
pointing out his errors and declined
to enter the protest until they were
corrected. The State secretary, how
ever, knew better until-the Ocala
convention "sat down. on him.
The Souther Settlement and Devel-
opment Company, Baltimore organ
ization planned for bolstering up the
waning fortunes of that city at the
eXpese of the southern country made
the modest demand on the board that
this county contribute the sum of
$4,000 toward the work of that COM
pany. Mr. Folsom's reply to the
hold-up scheme of this company was
rich in diplomacy and withal nice,
juicy way in which he said no. The
company in effect had written that if
we refused to contribute our mite we
would be ignored. 1t was written in
the order of a regular hold-up. This
company is going to try and get con-
tributions from all southern State
legislatures and also every county in
every southern State. In return it
promises to send US a supply of ''da-
gos" and other foreigners. Mr..
Folsom told them in his reply that
Putnam county wanted equality"
more than quantity. He told 'em
that what money we had to spend
would be in making our city and coun-
ty more attractive to those already
here, and that then we would be in
line for trusting to Providence and
our natural advantages for the in
crease. This and what money we
could raise to draw the right men un-
to US.
8 The board then passed the follow
ing resolutions:
For a Regional Bank.
Whereas, The Congress of the Unit
ed States has authorized the estab
lishment of Regional or Reserve
Banks in various important cities of
the United States for the purpose of
facilitating commerce and industry,
and
Whereas, The establishment of such
a bank to serve the South Atlantic
States and to facilitate financial
both DOMESTIC and
FOREIGN should be located at
point not only territorially accessible
out where such would provide for the
oroadest needs. and
Whereas, The City of Jacksonville
is in every way adapted to serve
these needs in their most comprehen-
sivn meaning therefore, be it
Resolved, That the Board Of Trade
of Falatka 90 on record as favoring
the establishment of such Regional
Bank at the City of Jacksonville, and
endorse efforts being made to that
end; and, be it further .
Resolved, That copies Of this reso-
luton be sent to the Organization
Committee of the Federal Reserve
Board, to Secretary of the Treasury.
VIM C. McAdoo and Secretary Of AG-
D. F. Houston; and 70 the
of the United States Senate
and House of Representatives from
this State, urging their favorable ac
ton thereon; and to the newspapers
of this City and Jacksonville.
For the Federal Reserve Board,
Whereas, 1t is understood that Mr.,
George r. DeSaussure of Jacksonville,
has been mentioned at home and
throughout the State. as candidate
for the office of Member of the FEEDER"
al Reserve Board, created by Tho re-
Gently enacted Currency Di.!, AID
Whereas, Mr.. DeSaussure is a gen
tlcman of the highest personal char
acter, a respected, honored and wide
ly known citizen Of Florida, and is, by
reason of his long and successful
banking career and his thorough
knowledge of questions relating to|
national finances, especially fitted to
perform the duties of the office il
question; therefore, be it
Resolved, That the Palatka Board
of Trade heartily endorses Mr. De
Saussure, and pledges itself to do all
in it's power to secure his appoint
ment by the President of the United
State; and be it further
Resolved, That a copy of this reso-
luton be sent to the President of the
United States, to the Clearing House
Association of Jacksonville. and to
Mr.. DeSaussure.
The board declined the proposition
of the Volunteers Of America for &
free house and an appropriation Of
S100 per month guarantee, they IN
turn to provide for the spiritual needs
of our poor. This proposition was
placed in the refrigerator for safe
keeping.
Mr.. II. NJ. de Montmollin called at
tention to an offer which had been
made wherein a gentleman had aglesd
to pay the mortgage on the hospital
building provided the board would
sell the property for $5,O00 and the
money placed at interest, the income
to go to the Woman's club for work
the needy The board express
sed its appreciation of the offer and
will try to dispose of the property,
To the entertainment committee
was referred the work of planning
for the reception of President Butter
field of the Massachusetts Agricultur-
al college, who has promised to lee
ture here on an invitation extended
Coarat n rNr FnlcpDl
Mr.. Yelverton of the Civic commit
tee reported that the A. c L.. agent
had promised to attend to the clean
ing up of the Union Station.
Mr.. Warner Hamm chairman of
the Entertainment committee stated