Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-02-14

riculturist worked the other way
round.
HEARING Nears End.
The Birmingham delegation, OK
pecting to. be called next. was in the
courtroom in full force, fifteen repre-
sentatives being present, though onl'
one speaker was to offer the case
They all wore bright red ribbons
their lapels.
Birmingham and Savannah will
heard, and then the hearing viii end
with the speech of Senator Smith, AZ
referred to.
Speakers Confined to Facts.
Secretary McAdoo held every
speaker down to facts. He constant
ly interrupted those who appeared be-
fore the committee such remarks as
Il don't believe we care to hear any
more on that point please leave
that matter to our discretion, as it is
purely an inference"
Secretary McAdoo, Secretary Hous-
ton and Comptroller William often
stopped the speakers for Atlanta with
shrewd, close questions on given
points.
j. K. Orr, first speaker for Atlanta,
outlined the region Atlanta best could
serve with a regional bank as in
Guiding North and South Carolina,
Georgia, Alabama, Tennessee, Missis
sippi and Florida
Mr.. Orr pointed out that Atlanta
has several million dollar banks, that
the territory named tends toward
Atlanta through the natural channels
of trade, that the crops, commerce,
population and finances represented in
the district constitute one ninth of
the crops. commerce, population and
finances of the entire country.
Moore Presents Statistics.
This is one big reason why we
feel we are entitled to one of these
nine or twelve banks in Atlanta"
concluded Mr.. Orr.
Wilmer L. Moore, former president
of the Chamber of Commerce. fol-
lowed Mr.. Orr, showing in detail and
with a wealth of statistics how the
territory named to be served by At
lanta is geographically and CONNER
cially well balanced as compared with
the other parts of the country.
Mr.. Moore showed that in the last
five years more than half the mer-
chants in the territory have sent the
bulk of their business to Atlanta. He
touched specifically on the volume of
bank clearings here, on telegraphic
and telephone business, but more
crops in the region, showing that it
produces in the market crop Of
enormous value once every month the
year round.
Business Increase Normal.
One of ]. K. Ottleys strongest ar
suments to the committee was the
compactness of the Atlanta region,
the similarity of business methods
oh hoo StA tarr
tory. the fact that the $725.00o, 900 of
bank clearings in the district repre-
sents a doubling thereof of twelve
times since 1898, putting Atlanta in
the lead over any other city in the
South.-
Specific data presented by Mr.. OFT
ley proved to the committee. that the
increased bank clearings have been
brought about by normal increase of
business.
Robert F. Maddox, who followed
Mr.. Ottley, offered the committee
statistics showing the capital sur
plus. reserves and resources Of the
Atlanta banks. He pointed out that
practically every eligible bank in the
district has signified its intention of
joining the national banking associa-
ton. and that there are ample funds
at the disposal of the banks with
which to finance their share of the
capital of the national association.
Banking Conditions Sound.
Mr.. Maddox admitted that at pres
ent there is a time of the year when
cotton is moving, that Atlanta is a
heavy borrower, but he pointed out
that this condition will be eliminated
when the national association is in
operation, because the millions held
in reserve by Atlanta banks, in New
York and st. Louis, and the millions
that State banks loan to persons out
side of the Atlanta territory then
will be held in Atlanta at the dis
posal of the crop-moverS.
Mr.. Maddox pointed out that New
Orleans, not included in the Atlanta
region map, can be attached to the
Dallas bank, and that Tennessee is in
favor of having the bank in Atlanta.
and that the other States in the re-
gion normally feed from Atlanta's re-
sources.
Chattanooga Second Choice.
In response to direct questions from
the committee, Mr.. Maddox said At
lanta might select Chattanooga as
the site of a reserve bank, as second
choice, but that New Orleans would
be favored under no consideration.
we do not wish to be connected
with New Orleans" said Mr.. Maddox.
Joseph a. McCord pointed out to
the committee that It is only an oc-
casional year that Atlanta and the
South has 10 call in outside resources
to help move the cotton crop, then
went on to show that financial help NJ
one time and another is needed by
every section of the country.
Secretary McAdoo asked Mr. Nc
Cord and Mr., Maddox to prepare a
map showing just what the cotton
crop conditions are and have been for
number of years.
Ask for Table of Business.
Atlanta also was asked by the COM
mittee to prepare a table showing the
total amount of business, the total of
crop values and the total of manufac-
lures are in the region, and what per-
centage of the three is handled by
and through Atlanta.
These statistics and other addi-
tional data will be prepared and sent
to the committee in Washington be-
fore March /. Statistics were pre-
scented by Mr.. McCord showing that
crops and manufactures have doubled
in the region in the last decade
J. Epps Erown gave the committee
an outline of the telegraphic and tele-
phoniC equipment of the territory,
showing that direct connection with
Washington, ID. c., may be had from