The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1914-04-07
TWELVE RESERVE BANKS
Location Announced of Reserve Bank,
Authorized BY New Law-Ken-
lucky in District No. a.

into twelve cities where Federal re-
serve banks are to be located under
the new currency law.
/ This is the first decisive step to-
ward the establishment of a new sys-
tenn. The banks are to be located at
the following cities: Boston, New
York, Philadelphia, Cleveland, Rich
mond, Va, Atlanta, Chicago, st. Louis
Minneapolis, Kansas City Dallas, Tex,
and San Francisco.
| Cleveland is the center of banking
district number four. The capital of
the bank there will be S11,621, 535,
deposited with 724 National and sew
eral State banks. The territory in
cludes the State of Ohio, parts Of
| Pennsylvania and West Virginia, and
all of Kentucky east of the west
boundary of the following counties:
Boone, Grant, Scott, Woodford, Jessa-
mine, Garrard, Lincoln, Pulaski and
McCreary.
The center of district number eight
is at st. Louis, and the bank will have
capital of 1928, 1928, deposited with
434 National banks. It's territory will
include Arkansas, part of Missouri,
Illinois, Indiana, Tennessee, Missis-
J sippi, and all of Kentucky, not in
Guided in district four.
The Organization Committee was
not authorized to provide for branch
banks of Federal Reserve Banks, but
the act specifically states that such
banks shall be established. This task
will be left to the supervision of the
Federal Reserve Board yet to be ap
pointed by the President.
The committee called attention to
the act that under the requirements
of the act it could not find ground for
the establishment of more than one
bank on the Pacific Coast, but hoped
in the near future to have Congress
authorize another bank which will be
located in this great section.
In a supplemental statement he
committee gave out the following
statistics used in determining the cit
les and districts:
District No. has an area in square
miles of $4,000 and a population of
7,961,022 District No. has an area
in square miles of 146,474 and a pop
ulation of 6,726,611
According to the committee figures
the total capital and surplus of the
approximately $500 banks in the Sys-
TEN will be $109, 898,902.
The last statement shows National
banks in excellent condition to meet
the demands of the new law. Some
observers were surprised by the fact
that loans and discounts have increas-
ed instead of being curtailed. Loans
and discounts on March 4, 1914,
amounted to S6,357 ,535 1898, gain
over January IS, 1914, the time Of the
last call, OF 1882, 130,936.
Subscribing banks must begin pay
ments for their reserve bank stock
thirty days after the announcement Of
the districts and reserve cities, and It
was believed in sons quarters that the
last statement might show a decrease
in loans and discounts because OF this
impending announcement. The loan
and discount increase, taken together
with the fact that individual deposits
increased in the same period by more
than $50 900, was said to be the
best indication that the National
banks are in shape to meet the de-
mands of the new system.
According to the statement the re-
sources and liabilities of the National
banks were S11 1854, 497 ,260; their cap
ital stock $1,056, 482,1 20, and their
! individual deposits S6,111P2S,45
Their reserves were put at$1 ,547 ,592,-
375. an average of 20.62 percent, and
S47,529,429 above the amount required
! nv law. The cash in banks decreased
since January, 1914, about $14, 100000,
but increased over April 1913 about
S8O,OOO,OO0.
HOW KENTUCKY is DIVIDED UP.
ST LOUIS DISTRICT.
WASHINGTON, April 3.-Of the
St. Louis district, including Louisville
and Western Kentucky, the Reserve
Committee tonight issued the follow
ing statistics;
Area, 146,475 square miles.
Population, 6,726,611.
Number of National Banks, 434.
Capital and surplus, $80,717, 1881.
Six per cent. subscription, $4,S43,-
iO79.
Subscription, including that on
State banks and trust companies, So
PIG, 1928.
CLEVELAND DISTRICT.
Of the Cleveland district, including
Eastern Kentucky, the Reserve Com
mittee tonight issued the following
statistics:
! Area, 1S3,995 square miles.
Population, 7,961,022.
Number of National Banks, IA.
CAPITAL and surplus, $192,l47 200.
Six per cent subscription, $11,52S,-
S35.
Subscription, including that on
State Banks and trust companies, SILL
621, 1886.
The Paris Epworth League enter
tanned Wednesday evening at the
Methodist church in honor OF the
thirtv-one new members added to the
organization. The occasion was very
ENJOYABLE, and large crowd ATTENDED
the exercises.
The church auditorium, where the
exercises were held, was beautifully
decorated in gold and white, and a
large Maltese cross, the League en-
blem, was suspended above the speak,
, er's stand, which was draped in gold
and white, the League colors.
Tho nroeram was opened by song.