The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1914-05-07
OlN{y TELLS WHY
He REFUSED POI
Continue. triln peg, :.

Political intiusnc2 may have sealed
~. .ate Oh ~aer.aia possibilities.
III any politics is TO be found in
connection with any OF the prospec-
tive appointments it Is III the case OF
Mr.. Harding, who is the leading bank
er in Birmingham. Mr.. Harding was
enc of the strongest supporters OF
Representative Underwood in tho
iattor's recent campaign for the Ala
hama s~enatorShip.
shortly before the campaign In Ala
l. iIaa reached it's climax Mr.. Under
wood. previously the right arm of
the administration in the House of
Representatives, broke with the
president on the Panama tells Gues-
ton. That was only a passing differ
caca, however, as MIR. Underwood is
relied upon 10 continue as the ad
mi%nistratio0's r'nht arm in the press
ing Of other legislative policies.
.AIlays alabama JealoEsy.
In the Harding selection also the
President takes a step which is likely
to assuage much OF the feeling that
was ~engendercd over the selection of
Atlanta as one OF the reserve banA
centers. Birmingham, which is near
ly as large as ATLANTA in point of
population and a commercial rival at
par with the Georgia city, exhibited
jealousy when the list of reserve
bank centcrs was made known. There
| was an effort to make ii appear hal
Atlanta won over Birmingham and
other southern cities because Under
wood was not as close to the White
House as had been reputed.
In the eleventh hour it was sought
to make this argument weigh against
the senatorial aspirations of the Dem
ocratic House leader. The close
friendship existing between Mr.. Hard
ing and Mr.. Underwood, however.
may cause a revision of the notion of
the Underwood-White House reia-
tons in some quarters.
Primarily the object of President
Wilson seems to have been to make
an equitable geographical distribu-
ton of the board members and,
aside from that, to put in men with
respect to their fitness and minus all
consideration as to the political
standing or pull"
Wheeler IA Republican.
Harry A. Wheeler has won consid-
cradle national enown in the last
few years as the moving spirit o. the
United States Chamber of Commerce
an organization which in it's brief ex-
tistence has eXerted a powerful in
nuence on financial and industrial. af-
fairs in connection with their relation
to governmental regulation and law
making. His banking and business
connections in Chicago are we'll
known. He is a Republican, and 40
years old.
} Warburg Heading Bankers.
:. Paul Moritz Warburg is brother
in-law of Jacob H. Schiff, head OF
! the firm of Kuhn, Loeb & Co.. and
{ among financial men is recognized as
: one Of the foremost bankers of the
l country. In his appointment 1.-The
! President among other things gives
Y substantial recognition to the Jewish
: citizens of the United States.
+ Mr., Warburg is 45 years old, was
born5at Hamburg, Germany, and at
ter graduating from the university
a received a business training with q
: Hamburg commission firm. In 1885
n he entered his fathers banking firm
: M. NJ. Warburg & Co.. founded ir
a 1898. by his great-grandfather, to
e study the rudiments of banking. He
= studied English banking methods il
: 4 prominent LONDON discount houst
II and a brokers' firm and French bank
ing with a Paris banking house, and
in 1901 became a member of the
municipal council of Hamburg, tax
ing an active part in the creation o
4 the League of German Banks ant
!; Bankers.
n He moved to New York in 1902 tt
4 become a partner in the firm of II hn
; Loeb & Co.
4 In 1918 he received the Order O
; the Crown, second class, from TIL;
s German emperor. He has beel &C
z tive in various philanthropic and elu
|. cational enterprises and has writtel
extensively on financial subjects.
Miller's Choice n Surprise.
j. Possibly the greatest surprise il
d the whole list is the selection O
Adolph Caspar Miller as the -spre
sentative of the Pacific coast on TIL
Z board. Mr.. Miller is not a practice
l. banker, but is an authority on fnaE
cial and economic affairs. Most tf hi
D. life has been spent as an educator
2 He is AZ years old.
/ In 1889 and 1890 he was an in
structor at Harvard and for two year
following was assistant professor O
history. and politics at the Univcrsit
OF California. Then for two years II
n was associate professor of politica
l. economy and finance at Cornell an
IA after that for several years, unit
IS 1902, was professor of finance at tn
le University Of Chicago. Since 100
he has been Flood professor of ecc