The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1914-02-04
BANKERS. Of
NEW ORLEANS
ENTERTAINED
Committee From Crescent
City Clearing House As
sociation Took Bay Trip,
Guests OF Local Capital
ists-Pensacola's Endorse
ment Requested,

a delegation representing the New
Orleans Clearing House Association
and the Association OF Commerce of
the Crescent City spent yesterday in
Pensacola, for the purpose of securing
Peusacola's endorsement of New Or
leans as the logical location for the
regional bank that will be established
in this section as provided by the new
national currency bill. Other candi-
dates for the site OF the regional bank
are Birmingham. Atlanta and st Louis.
None Of these has been endorsed by
che Pensacola Clearing House Asgo-
citation and local Chamber of Com
merce. but the indications are that
either Birmingham or Atlanta will be
endorsed, but New Orleans will prob
ably De favored over st. Louis.
BANKERS ENTERTAINED.
The party was entertained on bay
party yesterday afternoon by local
bankers, Commercial Association al
rectors, Newspaper men and other
public spirited Pensacolians who char
tered the excursion steamer Baldwin
for the occasion. The party visited the
BattIeship Mississippi at the navy
yard, called upon the officers at the
naval aeronautical school and took a
circular trip around the best harbor
south of Newport News. The visiting
bankers expressed themselves as be
ing favorably impressed with Pensa.-
cola Bay and the excellent Iand-locked
harbor here, and showed a serious in
terest in the naval flying machines
which are navigating the atmosphere
Of this section daily.
MEETING LAST NIGHT.
The local Clearing House AssocIa,-
tion met last night to endorse one OF
the cities coEtending for the regional
bank site No decision was reached,
however. The New Orleans bankers
left for home last night.
The members Of the New Orleans
party here yesterday were: Jas. r.
Stevens bank examiner for the New
Orleans Clearing House Association,
chairman; J. 3. Ferguson, assistant
cashier of the Whitney National Bank;
J. B. Pike, assistant cashier of the
Hibernla Bank and Trust Company,
and NJ. r. Trezevant general manager
Of the New Orleans Association or
Commerce.
COMMITTEES ATTITUDE
The attitude of the committee is ex-
pressed in q statement given out by
the chairman, in which st. Louis is
severely arreigned, and which is as
follows:
.'snut off on the north by Chicago, /
on the east by Cincinnati, PittsburS. /
philadelphia Boston or New York. and
IN the west by Kansas City and Den |
yer, st. Louta realizes that desperate |
MEASURES must he taken 20 insure the |
establishment of a federal reserve bank |
in that city" said he. Therefore her |
only opportunity for strengthening her
contentious Is to claim that the entire !
south sh 3uld be subsidiary TO st. Louis. |
Should the St. Louis plan prevail, the |
whole South will be ignored, and while |
the Atlantic the Great Lakes, the Mid /
die West the Rocky Mountains and /
the Pacific Coast states WIFI be rep
resented. the Gulf and Southern states /
will be denied reserve bank 1t is /
pointed cut by some that totally aside /
from the merits Of the case (Which are |
sufficient in themselves1, the Wilson /
a administration would not and could /
rot permit the south to be so grossly
ignored. Il was the democratic votes /
or the South in congress which made /
the federal reserve bank system q pos
sibility, but under the ST. Louis plan
the south would be snubbed and put /
in a category Of unimportance. It is
nconceivab1e that the selfish program
demanded by St. Louis will be Carried
3ut by the Reserve Bank Organization
and that the entire South
Will be ignored and merely tied 10 the
kite string Of the central western city. |
Continued on page four.)