The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-04-24
Will Issue Staten e n t
Mailing Twisted Statis-
tics and Arguments.
FIGHT ON RESERVE
BANK. GROWS WARM
Maryland Metropolis Launches
Poll of Banks in Fifth District
in Effort to Bolster It's Cause.
No Apprehension Felt
Here as to Outcome
of Canvass.

Silent for more than three weeks
under Bal,i,nore's vindictive sccuse-
.on that Richmond was Tnado the seat
OF the reserve bank OF the Fifth Dls-
,rict for political reasons. and not bo-
oaus. Of 81. superior advantages, local
bankers md business men mot yea
terday afternoon In the Business Mems
Club 20 voice their protest against the
lnisrepres.ntat!oua of this city that
hcve been given publicity by the news
papers OF tho Marylaud metropolis.
Tho bus!uess men wer. summoned
short notice, and 4 dozen or more
gathered In the Red Room of the club
10 diacugB Richinond's grievance. Clip
pings were produced from papers In
Baltimore and from reputable financial
Journals OF New York City. containing
EroGs !raccuraci"n In tables purport-
ing 70 show tho comparative import
anco Of Baltimore and Richmond as
centres OF banking and industry. In
The case OF the New York papers the
news articles bore Baltimore date lines.
showing their origin IN that city
To Refute Mi>representations.
Speaker after speaker, although
retterating the opinion THAI much OF
the injustic" done this city by garbled
figures and spccious arguments In the
editorial columns OF hostile publlca-
iions IL attributed 10 a lack Of fs
.aNl3TltN Nitn tho jaCtE. impressed
upon the gathering tho dut; OF Rich!
nond 10 make Immediate refutat!on OF
the more palpable errors TO which anti
Richmond newspapers have given
space. II "ts q duty. th.y said. that
tn" city owed 10 the large majority
or the banks ia the iifth Reserve Dts
trici that unr-servedly supported Rich
mono In the preliminary campaign.
In accordance with these express Ions
lhe meeting voted. upon i motion Of.
.crcd by Edmund strudw!ck, TO request
the executive committee OF the local
regional reserve bank organization. to
prepare u statement mailing the twist
Ell iirurcs and fallacious arguments
that disappointed Baltimore has spon-
sorcd in hc- bitter campaign To secure
i revision OF tho reserve city program
President l.. l.. Bcniss. Of the Rich
nlond Trust and savings Company. who
VAS chosen temporary chairman OF
yesterdays meeting, wac directed. un-
der Mr.. Strudwicis's motion. 10 appoint
a Fubco!nrntttcc 10 communicate the
meetings. recommendations to the re-
sionnl bank executive committee OF
which O. J. Sands. president CT the
American National Bank. is chairman.
Members Of the executive committee
who were present warmly seconded tho
Idea.
Send Statement 10 Banks.
The statement VIII he prepared In
the next day or two and VIII be sub
mtttcd TO the full membership OF the
executive committee for it, approval
The committee will decide 1T its rati-
i!caticn meeting upon tho best method
Of placing the statement before tho
member banks OF the Finh Reserv"
District. copy OF tho statement, t.c-
companied by IA latter explaining the
reasons that prompted II. VIII prob
ably be sent 10 each bank.
Particular indignation vas ex-
prcased at yesterdays meeting at the
alleGatton. born, II appears. In Balti-
more, and repeated with that city's
whore no particular loyo Is felt for tho
present administration. that the re-
serve bank was placed In Richmond
through the influence OF Comptroller OF
the Currency John Shelton Williams
such aa assertion IS reelection
upon the character and integrity OF
Mr.. Williams ana upon tho two other
men who eerved with him on the or
sanizatien committee" said Edmund
Strudwicl<. president OF tho Atlantic
Life Insurance Company. 1T virtual
IS charges Mr.. Williams with playing
politics 70 favor his home city and
carries with IL the implication that
tho other t"o members OF the commit
tee permitted themselves to I've influ-
enced improperly. These statements
should receive our strongest public
condemnation."
Baltimore Taking Poll.
George j. Scay. who prepared the
brief that was laid by this city before
the organization committee III Wash
inston, read II letter which has been
sent ~ tho Baltimore regional ~.
servo bank committee to the banks in
the Fifth District. The same letter has
been received by tho National state
and City Bank. OF this city, and other
local banking institutions II reads as
follows:
We are writing you on behalf OF
the committee of the citizens Of Bal
umore appointed to protest against the
unfairness Of the recent decision Of
the Reserve Bank Organization Com
niittee in selecting Richmond as the
seat Of the Federal reserve bank for
District No. D. upon grounds which an
pear to disregard tile questions OF or
dinary course of trade and other con-
s:3crations enumerated in the act
III you have already signifed your
acceptance Of the terms and provisions
al the act, the law requires that Won
shaii make your subscription 10 tho
capital stock Of the district bank With
IN thirty days OF the notification, that
Is. on or before May Z, 1914.
Now. if you are in sympathy with
tho movement OF the citizens of nol
timore. and believe that reconsiaero
ton of the committees action would
increase the efficiency OF the act IT.
self, VIC respectfully suggest that in
sending in your subscription to the
capital stock OF the Federal reserve
btale of District No 6. you file with IL
Il protest against the selection of Rich
mond al the seat OF said bank, and we
would request that you send n copy of
such n protest to the secretary OF this
COMMITTEES"
The letter is signed by Charles e.
(ContfntlAd on aecord pooaI