Omaha daily bee., 1914-01-08
NO CONCLUSIONS YET REACHED
Organisation Committee Concludes
It's Hearings in New York.
10 PROCEED TO BOSTON NEXT
Placing Of Three or Four 1nstitu-
tions in East Likely.
MENTIONS GATE crTY
Omaha spoken OF as Possible h"cA-
tion for one of Reserve Gem
ters In the western
Country.

NEW YORK. Jan. T.-rhe federal re-
serve organization committed today CON
cluded It's hearings ~ new York. having
devoted three days 70 ascertaining the
v.ews Of New York bankers conserving
the task OF setting up the resionsi re-
serve districts provided in the new law
and selecting the cities IL which the
banks are TO be placed.
The committee consisting OF Secretary
McAdoo OF the Treasury department and
Secretary Houston OF the Department OF
Agriculture, will proceed tomorrow to
Boston. the next point In It's Journey TO
the financial centers OF the country,
where hearings with be held Friday and
Saturday.
After the hearings here had been con-
ciuded Secretary McAdoo was asked
whether he had been impressed, by the
arguments advanced almost unanimously
by New York bankers who have ap-
peared In favor OF establishment here Of
regional bank Of such sizethat II would
overshadow ell the others.
Not So Gr~~U.
'I hope" said the secretary snilngly
that l am not as green as ] look"
Mr.. MeAdoo would say nothing more
further than that the committee had
reached no conclusions. Those who at
tended the hearings believed the most
probable solution Of the question, In the
light OF evidence so far adduced. was the
placing OF three or four regional banks
on or near the Atlantic seaboard instead
of having one large district centesfng
lin New York and including New Eng
land ana PART or all OF the middle At
lantic states
The cities mentioned In this connection
we're New York, noatpn. Baltimore and
| Atlanta. washington and Phliadeiphia
fafH1 kkre mentioned. sbtit II was the oplr.
Ion OF a majority of the witnesses that
Baltimore was entitled 10 preference over
either or these cities
=, .washinston Objected TO.
! Washington was objected to because no
large commercial interests center In that
city although some witnesses said y
would bo OF advantage TO establish q
bank there 10 be In close touch with the
federal board.
4 Arguments In favor OF Baltimore.
rather than Philadelphia. were based ON
! The supposed advsahiIity OF more equal
geographical distribution OF the regional
banks. II being thought that New York
and PHILADELPHIA were In too close prox-
unity TO have each bank. II was said
also that Baltimore, by reason OF It's
location ana foreign and domestic trade
affiliations. would serve better than Phil
and West Virginia and other territory
adelphia the states OF Maryland. Virginia
north OF the section which may be at
tached to Atlanta.
! Omaha Mentioned.
AS for the remainder Of the country,
the most commonly expressed opinion was
that banks should be established at CHI
cago. 81. Louis. San Francisco and New
Orleans. Many other cities mentioned
for the remaining banks. but the opinion
OF witnesses was widely divided as TO
the preferable ones Denver, Omaha, 81.
Paul, Minneapolis spokane. Seattle. Los
Angeles, Kansas city Cleveland. Gin
cinnati. Dallas, Tex. Houston Tex, and
Pittsburgh were suggested.
Today's hearing brought out the same
trend OF opinion among New York bank
ers as was evident from the outset. that
the New York distrist should embrace