The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-06
CAROLINA CITIES
TO help RICHMOND
Promise Support in Big
Fight for Regional
Reserve Bank.
BIG DELEGATION
STARTS OUT TODAY
Conference Arranged With North
Carolina Bankers at Raleigh on
Thursday Night-John Kerr
Branch Made General
Chairman-Whole
Town at Work.

Final details for the expedition
through the Carolinas to get indorse-
ments for Richmond as the location of
one Of the twelve regional reserve
banks provided under the new currency
law were arranged at meeting of the
general committee yesterday afternoon.
The committee, headed by William T.
Dabney, business manager of the Cham
ber of Commerce. will leave here at
S:15 o'clock this morning over the At
lantic Coast Line Railroad. Meetings
for to-day will be held at Rocky
Mount and Tarboro. Tomorrow the
committees will visit Wilson and Colds
boro. and will arrive in Raleigh on
Thursday afternoon.
kilograms received yesterday from
President Holderness, of the North Car
olina Bankers Association, stated that
he has called meeting of the eXecu-
tive committee of that association to
meet in Raleigh Thursday, and he In
vited the Richmond missionaries to ap-
pear and address the meeting iii behalf
of Richmond. Personally Mr.. Holder
ness added that he thought 1t would be
to the great advantage OF North Caro-
lima to have the regional bank In Rich
mond rather than in any point further
north, or at some place south of the
Carolinas. .s
Added to Executive Committee.
AT the general meeting yesterday af-
ternoen unanimous "a ppEovaIs of the ef-
forts 70 secure the regional bank for
Richmond on the part of the Richmond
Real Estate Exchange was reported.
MeSsrs. o. II. Funsten, OF the Real Es-
tate Exchange; w. L. Shepherd, of the
United Commercial Travellers, and +. Fl.
Kaufman, of the Retail Merchants AS
sociation. were added to the executive
committee.
John Kerr Branch was appointed
general chairman In place of Colonel
John b. Purcell, who resigned on ac-
count of pressing engagements.
George w. Stevens, president of the
Chesapeake and Ohio Railway. Con-
gressman A. J. Montague, Mayor Aims
lie and others attended the meeting
ana took part in the discussion.
Chairman Coleman, Of the finance
committee, reported arrangements for
twelve volunteers, working in teams OF
two, to call on business man for con-,
tributions to the campaign fund. Money
Is urgently needed for office expenses
the banks having advanced funds to,
start the booster committee on Its trip
IT is proposed TO raise $4,000 at once,
the money to be returned pro rata ifs
not all expended. The finance commits,
tee Will meet daily mt l o'clock until
this has been accomplished.
On resolution OF John Kerr Branch,
the Bar Association of Richmond was
member for tho executive committed.
Leigh r. Page, George Bryan and
Thomas c. Gordon were named as a
committee to lay the matter before
the bar of the city.
Suggests Enlarged Territory.
Executive Secretary Gregory exhibit
ed maps showing the district proposed
to be served by the Richmond regional
reserve bank.
Na
lima TO realize lie said. that unless
they act with us. they may be appor-
toned TO some section with which they
nave no business relations Each dis
trict should embrace member banks
having capital and surplus to tho
amount of $66,666.666. to enable them
to subscribe the minimum capital
stock OF s4,OOo,00o, which is required
for each Federal reserve bank. Vir-H
gin!a, North Carolina and South Caro-
lima would naturally make up n dis
trict if they had the necessary amount
OF capital and surplus. but tho joint.
capital and surplus of these three
states only amounts to S4SSGe 0OOy
Therefore, since these alone cannot
make up district. they must either
add other territory to them, or together
or divided be added TO some other nat
ural district or districts 1t therefore
w
for the future welfare OF these Statos
that they at once unite and stand to-
gethcr and. instead OF being divided
and sent to other territory, to bring
To us enough territory to make up n
district of which these States. and
their sentiments. needs and conditions
VIII be the centre
If we do not stand together, IL an
pears from the geographical location
nd
that Virginia will be PUT in district
WITH Washington. West Virginia,
MARYLAND and PENNSYLVANIA, and that
North and South Carolina will be put
in district with Tennessee. Alabama.
Georgia and Florida. Therefore. we
believe 1t Is better for us to stand to-
gether and bring In the additional ter
ritory necessary. This can be done BIZ
adding the Southern portion OF West
virginia, and the Eastern portion OF
Iennessee and Kentucky. Georgia and
the Eastern and Southern portion OF
Florida. all OF which territory would
more naturally and properly be
brought to us than that we should ba
split up"
Many Letters Favor Richmond.
Mr.. Gregory expressed the belief that.
a majority of the territory mentioned
would prefer Richmond to Atlanta TO &
support this view he read a. large ftun1- 4
ber OF letters from bankers A Char.
lotto banker wrote that his city: pro-
3erred Washington to Atlanta, and.