The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-04-06
Members Of Organization Com
mittce Object to Being Abused
for Findings
FIGURES JUSTIFY ACTION
Richmond Won From Baltimore
Because OF Closer Relations
With South.

Washington. April 5.-Jndson c.
ton Times, says:
Members OF the organization com
mittec for the Federal reserve bank
Ing system. don't propose TO be abused
because OF their selection OF the re-
s"rve bank cities. without nghtinG
back.
Secretary McAdoo, Secretary Hous-
ton and Comptroller Williams. who
compose the organization committee,
to-day gave ont a series OF tobulations
dealing with the banking resources
and interests OF various cities that
were considered az possible seats for
regional banks. The figures con-
siitute The committees Qualification
for the action ii has taken. They GER
tainty provide a most Interesting IL
Elimination Of business and banking
facts throughout the country.
FOR example, there has been spe-
cial bitterness in the criticism be-
cause Baltimore and New Orleans were
not made reserve bank cities. while
Richmond. Atlanta and Dallas. NIL OF
them much smaller cities in point OF
population, than either Baltimore or
New Orleans. were selected.
WhDt Figures Show.
The organization committees COM
pilations OF data concerning the bank
tHS interests OF tncSe various cities
snow that Baltimore has 55S, goo pop
ulat.on. and New Orleans $4,000; yet
these two cities were rejected. and
Richmond, with only $4,000. Atlanta
with only $4,000. and Dallas with
only $1,000 Of population, were made
regional bank cities.
The organization committees rea-
sons for rejecting Baltimore and New
Orleans In favor Of tho smaller cities
have 10 do entirely, II Is declared. with
the conditions OF the banking bust
ness as now organized In the various
communities, and with the probabl
developments OF the next few years.
For Example. In the decade from 1903
to 1918 the capital and surplus OF At
lanta national banks Increased 2G9
per cent. while the Increase for New
Orleans banks was only AZ per cent
In 1909 the capital and surplus of
New Orleans banks was s.. 900,
while Atlanta at that time could claim
total OF only S2,330.000. But in tho
succeeding decade Atlanta's business
gained by leaps and bounds. SO that
in 1913 Atlanta showed Ss.6OO,OO0 OF
capital and surplus while New Orleans
showed only SS,200,000
Lonn Business Compared.
And this IS not all of the showing
IN favor or Atlanta as against New
Orleans The total OF loan and dis
-NShN DNSlIcSS !OE INC hliNUlh DaukS
1913. is given as ;2e.S56.000. while tho
same agurc for the New Orleans banks
is only t2i.461 900. Thus, In this item,
which IS the real index OF the volume
Of banking business transacted In the
town. Atlanta increased lG6 per cent
IN the decade, while New Orleans in
cf"ased only II per cent.
SUI! more impressive In favor OF AT
lauta Is the showing which the figures
on Individual deposits In the banks
produces. In 1903 New Orleans re-
ported $l5.0UO.O00 of Individual de-
posits, while Atlanta had only $1,000
coo. Hut 1903 Is ancient history In n
race between Atlanta and New Or
leans. In i9l3 Atlanta had actually
| passed New Orleans in this Item. re-
po. ting '2o,si20Go of individual de-
pos!ts, while New Orleans reported
$-0.Gi 900
An even more effective argument in
favor OF Atlanta az against New Orr
leans was produced by the examination
/ Ia detail! OF the business done by tho
hanka III the different cities For ,x-
ainUle II was found that In 1918 New
Orleans national banks had JOINS and
/ discounts outstanding in the Southern
states "ggrcgating $i?.477.OO0, while
: at tho same timc Atianta's loans and
discounts IN the same geographical di-
Nisipn yer" $2G.ll7.000, Even Dallas
presented q total OF $l9,l23.000. or al
! i"%s, exactly the same az that OF New
Z Orleans.
I New Oriennn Sto0d sim
! 80 Iar NJ tn" casG for New Orleans
~ concerned. The old city seems to have
been approximately standing still.
~ ne race for financial supremacy
Members Of the organization commit
ltco onphhhizc tho fact that this show