Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-06-08
C0NTESTAmONG BANKERS
Smaller Institutions Of Iowa May Unite
to Receive Representation on District
Field.

Des Moines, June s.-A determined
effort TO unite the smaller national
banks OF Iowa on one Iowa banker for
director Of the Chicago Federal Re
serve bank was begun yesterday.
Realizing that it was only BY united
action that Iowa could be sure of get
ting member on the board OF the
Chicago hank, the national bankers
who attended the convention OF the
Iowa Bankers association at Clinton
held a meeting Friday afternoon. a,
which they instructed P. W. Hall. sec
rotary O. the association, 70 take a
secret ballot OF the national banks OF
Iowa for the purpose OF finding out
whom the majority favored for place
on the Chicago board.
II was the sense ot the meeting that
all the Iowa member banks in Group 3.
or those With a combined capital and
surplus O. SIS. 600 or less. should unite
on the Iowan thus selected. Mr.. Hall
prepared the ballots yesterday and they
were sent 70 the member banks thru
out the state last night.
There are four Iowa bankers who are
being mentioned for the place and IL is
not unlikely that others may be voted
for on the preliminary ballot which Mr..
Hall will take this week. The more
prominent candidates are ]. G. Rounds
president OF the Citizens National bank
here: z. L. Johnson. president o. the
First Ma tional bank OF Waverly; a. F.
Dawson, president OF the First Nation
al bank Of Davenport; and John Nc
Hugh, president Of the First National
bank OF Sioux City.
1t was pointed out at the meeting al
Clinton that with the Iowa vote divided
among four or more candidates there
would be little hope of electing any one
from this state. A sort Of primary
election was decided upon as the best
solution Of the difficulty. 1t is be-
lieved that If all the member banks OF
Group will combine on the banker
selected by the majority. the election
of an Iowan is assured. since the
Group banks in Iowa lack only six
teen votes OF controlling that group
turnout the entire district.
It seems certain that Chicago will Sc
cure the other two directors of class a.
George VI. Reynolds. president of the
Continental and Commercial National
bank of Chicago has announced him
self as a candidate in Group !. which
is made up Of banks with combined
capital and surplus of 100000 or more
and James 2. Forgan, president Of the
First National bank o. Chicago ts =
candidate in Group 2, composed o.
banks with capital and surplus be-
tween s55 200 and 1920. 900. Both mer
are very popular in Iowa and it seems
probable that they will receive the vote
Of the Iowa banks in their respective
| districts.
| Since Iowa has more than one-thirt
of the total number Of member bank:
| in the district, II is thought that she
is entitled to at least one OF the banker!
on the board and the preliminary cleo.
ton which will be held this week is {
step toward securing that member.
The official nomination blanks Of the
organization committee were received
! by local national banks yesterday
These must be filed out and returned
to the committee within ten days. Thu
| result is that little time remains 70
| the holding Of the preliminary vote an
| bankers will be requested to return
their ballots to Mr. Hall by Thursday
in order that the result of the primar.
may be announced before 1t Is neces
sary to send the official nomination
| to the organization committee. TIL
vote will be canvassed Friday mornin
and the result sent to the banks a
once.