The Washington herald., 1914-04-11

serve either the western or the eastern
part of the district that city asked for.
The course Of business is not from the
Atlantic seaboard toward New Orleans,
nor largely from the State of Texas to
that city, and II Dallas and Atlanta had
been related to New Orleans a better
grounded complaint could and would have
been lodged by them against the COM
mittee's decision than that made by New
Orleans"
Figure. Justify Selection.
The committee also contends that the
banking figures justify their sighting OF
New Orleans. The committee says, too,
that the percentage Of income on the
capital stock and surplus OF national
banks in Atlanta in the last ten years
has been 256, and in Dallas 10. as CON-
pared with in New Orleans. Loans and
discounts show the following percentages
of increase: Atlanta, 152; Dallas, lIS. and
New Orleans. 10, while the percentages
on the increase in individual deposits ran:
l45 for Atlanta, 159 for Dallas, and l3 for
New Orleans. or all reporting banks on
June 4. 1913. the committee says:
Atlanta reported capital stock and
surplus, S15.31S,OO0. or sss per capita;
Dallas, s9.ss7 900, or SOS per capita,
and New Orleans. S2O.532, 900, or $50
per capita: individual deposits. per
capita, Atlanta, sIs3; Dallas, $269:
New Orleans, s2O9.
The loans and discounts for all re-
porting banks for the three cities were
as follows: Atlanta, sS3,494,O 900. or S2l6
per capita; Dallas. 1000, or $29s
per capita; New Orleans. S6I,S45, 900,
or Sl9I per capita The committee
found that the total loans and dis
counts made by national banks in the
cities named in the thirteen Southern
states on January -, 1914, were as
follows: Atlanta, S26.ll7, 900: Dallas.
S19.123. 900; New Orleans. $19.477.O 900:
while the total loans made by the ma
tional banks of Dallas throughout the
entire United States on the date men,
toned exceeded the loans made by the
national banks of New Orleans.
Special reports made under oath TO
the Comptroller of the Currency also
show that on February u. 1914. the credit
balances of the banks and trust COM
panies in the. thirteen Southern States
with the national banks of Dallas eN-
ceeded in amount the credit balances Of
all banks and trust companies in thcsU
same States with the national banks Of
New Orleans"
Selection of Richmond.
The committee defends on similar
grounds its selection of Kansas City over
Atlanta or Denver. The committee de-
votes considerable space TO the defense
Of the selection of Richmond. John Skel-
ton Williams home city. over Baltimore
and Washington. II says:
For the territory from Eastern Gcor-
gia to the Pennsylvania line, the com
mittee. after fully considering all the
facts, decided TO create a district with
the Federal reserve bank in Richmond.
South Carolina and North Carolina had
protested against being connected with .
bank 10 the south or west They said
that their course of trade was northeast.
1t seemed undesirable to place a odnk
in the extreme northeastern corner or At
Baltimore, not only because Of its proN-
unity to Philadelphia. but also because
the industrial and banking relations. OF
the greater part OF the district were more
intimate with Richmond than with either
Washington or Baltimore.
THE States OF Maryland, Virginia,
West Virginia, North and South Caro-
lima and the District of Columbia had
to be considered. North Carolina, South
Carolina and Virginia preferred to be
connected with Richmond. West Virginia
WAS divided in its preferences; Maryland
and the District of Columbia. OF course,
desired Baltimore or Washington.
POtI OF Banks.
I'm the poll of banks made directly by
the Comptroller's Office. Richmond re-
ceived more first choice ballots than any
other city in the district, 167 against 12S
for Baltimore. thirty-five for Pittsburgh,
twenty-eight for Columbia. S. C, thirty
seven for Cincinnati and twenty-five for
Washington. D. c. OF the remaining
twenty-one votes. nineteen were for Char
off nj fnr I
ing out the States of Maryland and VIr-
ginia, Richmond received from the rest
of the district three times as many first
choice votes as were cast for Baltimore.
The reports made to the Comptroller
Of the Currency on March l. 1914 by
all the national banks in each of these
States show in every essential respect
that the business of the national banks
OF Virginia. including Richmond. is
greater than the business OF the national
banks of Maryland. including Baltimore.
or any other OF the five States embraced
in District No. S.
From the sworn special reports re-
Gently submitted to the Comptroller of
the Currency it appears that the national
banks in Richmond were lending in the
Southern States on January l3
1914. more money than was being loaned
in those States by the national banks OF
any other city in the country except New
York. The total loans and discounts In
the thirteen Southern States by the four
cities referred to are as follows: Rich
mond, S33, 4I3,O00: Baltimore, Sc. 81, 900; New
Orleans, NS.4T.O 900; Washington, $4,000
Rate Per Capita.
THE figures show that the capital
and surplus of all reporting banks,
State, and savings, and trust
per capita, in Richmond, as
of June 4. 1913. was Sl3l: in Baltimore,
1886: in Washington. SIS. and in New
Orleans, $50, while the loans and dis
counts made by all banks and trust
in Richmond, on the same
late, amounted to 1898 per capita,
against $3.50 in Washington. s2l3 in
Baltimore. and S194 in New Orleans.
The amount of money which banks
Ind trust companies in the various
parts of the country carried on de-
Dosit with Richmond-a nonreserve
'ity-on February IA. 1914, amounted
% S1O.9TO.OO0, or nearly twice as much
Is the balances carried by outside
ranks with the national banks OF |
which on the same day
amounted to s5,516.O00. and one and a |
lalf times as much as they carried |
IN the same day with the national |
,anks of New Orleans-a reserve city" |
The committees figures show that
he capital and surplus OF Richmond |
,anks have increased in the last ten |
ears 1ss per cent. its loans and dis
cunts 175 per cent. and its individ-