Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1914-01-26
BOOSTING DENVER
FOR REGIONAL
BANK SITE
Secretaries McAdoo and Hous-
ton Hear Presentation OF
Claims of Rocky Mountain
District.
my Leased Wire to Evening Herald. ]

Denver. Jun &C. The claims Of
the Rocky Mountain section for "a
regional reserve bank under the new
federal banking system were heard
today DIS Secretaries McAdoo and
Houston
tn advantages OF Denver as lo-
cation Tor this bank were presented
hy bankers and business men under
the direction ct Gordon Jones, chair
man ~ the Denver Clearing House
association.
delegations from many Colorado
towns supported Dcnvers claims.
Representatives from Wyoming. Ncw
Mexico. Arizona, west Texas and
western kansas uud Nebraska also
we've heard
The territory representative oi the
Denver Clearing House association
suRgcstcd should be- included In the
district 81 regional bank at Denver
included Colorado. Wyoming. New
Mexico. Arizuna, Utah. Idaho. Nom
taua. southwestern South Dakota,
Western Nebraska, western Kansas,
western Texas
Gordon Jones. president OF the
Denver Clearing House association
presented figures tending To- show
that regional bank IN this territory
would have capitalization Of app
proximntoly $4,000 600. with deposits
Of $1,000. 600.
Questioned hy Secretary McAdou,
the witness admitted that the district
outlined did not follow closely the
natural trade thoroughfares. 81.
! Bcrgcr thought Colorado. Wyoming,
! New Mexico and Utnh possibly COM
prisrd the natural banKing and trade
! territory tributary 90 Denver RE-
piying to "a question boy Mr. McAdoo,
he favored smaller regional bank
for Denver with a smaller capitaliz-
alton rather than being added Co "a
larger district with the regional bank
az another point
Gordon Jones' who has had charge
OF gathering data Go bee presented 90
] tho committee. outlined banking,
| commercial ana Industrial conditions
OF the Rocky mountain states He re-
fcrred 90 the location of the Unite :
/ states mint az Denver. This NdnL
he said. receives ON rc-dcposit itU %
| Seattle 30 yer cent of all the -pd
| from Alnskl IAN the bullion par
chased by the United states assay of.
| fees west of the Missouri rNCt ,X-
ccpt the office at Carson. New. is
| sent 10 the Denver mint as "a rv-dv-
J post. This bullion comes from Unit
ed states assay offices at Helena,
| Mont. Boise, Idaho. salt Lake cay,
| Utah; Seattle, Wash. The avcfisc
amount received from this source b.
| &l7,N0O. 000."
AIR. Jones expressed confidence that
mo- difficulty would be- experienced I'm
providing the necessary capitalization
, for regional hunk adding "Uur
state institutions are greatly cnthurci
over the privilege accorded them of
Joining the system and many have
Eignifed their intention ct becoming
members.
A. e.. Foster, representing tlc Dem
yer bond dealers, presented a report
stating that most Of the bona husi-
ness in the territory claimed hy ben
vcr was handled by the bond houses
OF this city The report suu that
2S out of 40 bond houses IN the
territory showed purchases apl sales
Of ttGf.gs6.824 for 1913.
| DenvcT's position as the center oi
the mountain district Ia the insur'
ance business was presented by J. r.
Edmonds.
j. T.. dcRicules submitted facts and
figures tending To emphasize the i'm
portanCe of this city as the center OF
the livestock business of the west
The Industrial situation relating %
coal. coke. steel iron. cement OH
marble aud other enterprises. wa
presented hy y a. Osgood, president
of the Victor-American Fuel com
pany. lie said that all the coal ant
coke business OF Colorado, New Mex
leo and a large part OF Utah was o.
nanced in Denver but that the bust
ness originating IN Montana did no
leone To this city. tie pointed to thl
steel plant Ht Pueblo aa the only on
Of any extent west uf the Missouri
river.
The extent and importance of IN
beet sugar industry with its Seventeen
factories IN Colorado was outlined b.
w. A. Dixon, general manager OF th
Great Western sugar company. suga
factories in other states are distuh
uted aH follows Utah, riX, Idaho
four, Nebraska two, and one each d
Montana. Kansas and Arizona.
The mi ling interests were present
! ed hy Thomas a. Burhridso OF Grip
pie creek, stating that the mlnin
business Of Colorado required larg
banking facilities which had bee
furnished by the banks OF Dcnro
!, and tributary territory
, u. u. Malone discussed the uilroa
facilities for communication with "a
}. territory claimed, polntinE out tina
there are lfS passenger trains in AN
out az Denver every twcnty-iou
hours Tie declared that SO per Ger
~ the population claimod hy IN
r Denver committee could be reache
IA within fifteen hours.
a Morrison Shafroth presented fact
b In connection with the manuiuciul
? ing aud iobhing business of the dii
trlct.
q The afternoon session was devote
. 10 hearing the statements OF banker
b and business men from points ouI
~ slide Denver.
secretaries planned to conclude IN
u hearing at o'clock ANA take III
train Immediately for seattle. Naal
b Hearings on owen nlil.
u Washington, Jan 30 Publ