Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-02-14

farmer, not an agriculturist, and as
serted that a farmer made his money
and spent it in the city, while an ag-
rlculturlst worked the other way
| round.
Hearing Nears End.
Inc birmingham delegation, eX-
pecting to be called next, was in the
courtroom in full force, fifteen repre-
sentatives being present, though only
one speaker was to offer the case
Fhey all wore bright red ribbons il
their lapels.
| Birmingham and Savannah will b
| heard, and then the hearing will end
with the speech of Senator Smith, as
referred to.
| Speakers Confined to Facts.
Secretary McAdoo held every
speaker down to facts. He constant
ly interrupted those who appeared be-
fore the committee such remarks as
81 don't believe we care to hear any
more on that point" please leave
! that matter to our discretion, as it is
| purely an inference"
Secretary McAdoo. Secretary Hous-
ton and Comptroller William often
stopped the speakers for Atlanta with
| shrewd, close questions on given
| points.
j. X. Orr, first speaker for Atlanta,
outlined the region Atlanta best could
serve with a regional bank as in
| GLIDING North and South Carolina,
| Georgia, Alabama, Tennessee, Missis-
sippi and Florida.
| Mr.. Orr pointed out that Atlanta
has several million dollar banks, that
the territory named tends toward
! Atlanta through the natural channels
| of trade, that the crops, commerce,
! population and finances represented in
! the district constitute one-ninth of
| the crops, commerce, population and
! finances of the entire country.
Moore Presents Statistics.
This is one big reason why we
feel we are entitled to one of these
| nine or twelve banks in Atlanta"
| concluded Mr. Orr.
Wilmer L. Moore, former president
! of the Chamber of Commerce, fol-
lowed Mr.. Orr, showing in detail and
| with wealth of statistics how the
| territory named to be served by At
| lanta is geographically and CONNER
/ Cially well balanced as compared with
| the other parts of the country.
Mr. Moore showed that in the last
| five years more than half the mer-
| chants in the territory have sent the
| bulk of their business to Atlanta. He
/ touched specifically on the volume of
| bank clearings here, on Geographic
| and telephone business, but more
! particularly upon the sequence of
crops in the region, showing that it
! produces in the market q crop of
enormous value once every month the
| year round.
Business Increase Normal.
! One of J. X. Ottley's strongest ar
! guments to the committee was the
compacness of the Atlanta region
the similarity of business methods
| throughout this Southeastern terri
! tory, the fact that the $725.000, 600 of
| bank clearings in the district repre-
sents a doubling thereof of twelve
! times since 1898, putting Atlanta in
! the lead over any other city in the
| South.
| Specific data presented by Mr.. OFT
! ley proved to the committee that the
! increased bank clearings have been
| brought about by normal increase of
| business.
Robert r. Maddox, who followed
Mr.. Ottlcy. offered the committee
| statistics showing the capital, sur
| plus, reserves and resources of the
Atlanta banks. He pointed out that
practically every eligible bank in the
| district has signified its intention of
| joining the national banking associa-
ton, and that there are ample funds
at the disposal OF the banks with
| which to finance their share of the
capital of the national association.
Banking Conditions Sound.
| Mr.. Maddox admitted that at pres
| ent there is a time of the year when
| cotton IS moving, that Atlanta is a
| heavy borrower, but he pointed out
| that this condition will be eliminated
when the national association is in
| operation, because the millions held
| In reserve by Atlanta banks, in New
York and St Louis, and the millions
| that State banks loan to persons out
| side of the Atlanta territory then
will be held in Atlanta at the dis
| posal of the crop-movers.
| Mr.. Maddox pointed out that New
| Orleans, not included in the Atlanta
| region map, can be attached to the
| Dallas bank, and that Tennessee is in
| favor of having the bank in Atlanta.
and that the other States in the re-
gion normally feed from Atlantas re-
| sources.
Chattanooga Second Choice.
In response to direct questions from
| the committee. Mr.. Maddox said At
| ianta might select Chattanooga as
| the site of a reserve bank, as second
| choice, but that New Orleans would
be favored under no consideration.
| I'VE do not wish to be connected
with New Orleans" said Mr. Maddox.
Joseph a. McCord pointed out to
| the committee that it is only an oc-
casional year that Atlanta and the
South has 10 call in outside resources
to help move the cotton crop, then
went on to show that financial help ut
one time and another is needed by
| every section of the country.
| Secretary McAdoo asked Mr.. Nc
Cord and Mr.. Maddox to prepare d
map showing just what the cotton
crop conditions are and have been for
number of years.