The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-04

out that the gross deposits In all the
national banks In North and South Car
olina combined did not equal the de-.
posits In national banks in Virginia by
more than 100000. 1t is believed
that cotton mills of South Carolina
have more money on deposit In Rich
mond than they have in any city of
South Carolina.
More Than Georgia and Alabama Com
bined.
AS to the claim of Atlanta, 1t haze
been shown that the Moss deposits In
national banks in Virginia exceed the
gross deposits in all national banks in
Georgia and Alabama combined. an,
argument which II is believed will be
influential before the organization COM
mittee as offsetting the claims of both
Atlanta and Birmingham. The total
of deposits of all kinds In the State and
national banks In Richmond is $685.
100000. The total Of deposits in all
banks in Atlanta is s35,000.00o. Rich
monds excess of S1S,o0o,0OO is be-
lieved to be mainly the business sent
to Richmond from the two States to the
South, showing, as the local committee
contends, that the natural current OF
trade liz already in this direction, and
that to place the Carolinas in any re-
serve district centred to the South or
them, would be to reverse the natural
currents OF trade. a step which the
stated il proposed to guard against.
What VIII Control Choice.
The three principles which are to
determine the location OF the twelve
regional banks. according to Secretary
McAdoo, are Cd Geographical con-
venience, which involves the principal
facilities and rapid and easy communi-
cation with all parts of the district.
(2) Industrial and commercial develop
ment and the needs OF each section,
which Involves consideration of the
general movement of commodities and
of business transfer of funds and OK
changes of credits arising therefrom.
ca The established custom and trend
OF business. as developed by the pres
ent system OF bank reserves and check
ing accounts.
AS to geographical convenience,
Richmond is recognized az one of the
greatest places for assembling, manu-
featuring and distributing on the At
lantic seaboard with equal advantages
as to labor market 1t was stated at
the meeting yesterday that one of the
greatest manufacturing corporations OF
this country has just selected Rich
mond as one of the three distributing
points for all OF it's products: namely,
New York, Richmond and st. Louis
This information has just come to the
Chamber of Commerce. and the name
of the manufacturing plant has not
been made public, as negotiations are
on to lease suitable quarters.
Best Raiirond Facilities.
With the Atlantic Coast Line,
Southern Railway and Seaboard Air
Line reaching South, with trunk lines
East and West, and with steamboat
lines along the coast, Richmond can
reach in the shortest
space OF time all points from New York
TO the Gulf. By means Of the Norfolk
and Western ard Chesapeake and Ohio
1t has connections to the Middle West
equal to, IL not superior TO, any city
on the Atlantic seaboard: in fact, 1t
Is well recognized that the transporta-
tion facilities of Richmond. stretching
out In every direction. have been de-
veloped TO ~ state OF efficiency, where
they are regarded as the most COM
plete of any Southern city.