Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-04-06
|bABLE EFFECT Of
NJ BANK On FINANCE
outlined BY NJ CORD

comes to the question OF
the regional reserve bank
10 Atlanta. that is topic
X and varied in its phases
discussion is rather prema-
ph A. MeCord, OF the Third
Bank, believes. But Mr.
Who is about as well in
man on national reserve
rs the country contains, viii
much,
eein with, the Federal Re-
nix OF Atlanta will in no way
with the relations Of the At
llks one with another or with
IL. The public win have no
at all with the reserve bank.
nt members will have no
with the reserve bank
clearings in Doubt.
e matter OF clearings, II has
been decided that the clear
ountry checks through Allan
be q feature of the new re-
Thus Il can not be said that
arrangement will increase the
earrings. But that is a feature
comparstivel unimportant.
aps the biggest feature OF the
& banks operations will be its
Anonsive conversion Of Atlanta
financial center and an eN-
% point
The exchange feature, Allan
- viii cease 10 issue New York
kton or Chicago exchange All
|lge will be issued on THE Allan
hrye bank, and IL will be par eX-
/, 1T any of the other eleven re-
banks that is, In any part of
|nited States. In this Atlanta
d advantage whatever over the
Icities in the district
\ Wipe Out Money Centers.
|mber banks all over the dis
lave the same privilege issuing
kchange on the Atlanta reserve
Banks not members can not
i.
ell the Atlanta reserve bank VIII
= in all their lending functions
resent money centers IN the
member banks of the Sixth
need money, they viii get II
NJ Atlanta reserve bank Their
hll be discounted here-and
should be we'll understood
anita has no advantage over
er CITY i'm this district when ii
q obtaining loans from he
tablished here.
great advantage ~ the re-
bank system viii be found In
bsolute prevention Of a recur-
/ OF such conditions as obtained
tall of 1867. with a fine crop In
lnntry ana a reasonable amount
ney.
Capital of st5,Ooo,Ooo.
E high finance Of few specu-
caused the closing OF banks in
nancial centers. and thus pro
a fear that destSoyed credits
aused every bank TO take care
reserve in its own vault there
what should have
ltrengthened at such a time.
{ new currency law provides
reservoirs where the gold re
may be modified and currency
under strict Governmental
tons. with an ample gold basis |
Slilrinsure to the public prompt |
snt on demand"
amount Of the funds on which
federal reserve bank in Atlanta |
tart doing business is VariouslN |
ated, bat the general iimpres
i that Id will have a capital OF !
hing like $l5.000,0 00. or that |
nj, S5 per cent must be held in
Serves as Money Market.
to the use to be made Of the |
by the Atlanta banks,
viii depend on their needs. The
nge feature, of course, will
about automatically. II may be
Iome Of the Atlanta banks will
Quire loans of the reserve bank,
They do. 1t will fulhll all the |
,ns OF the present Eastern
market. with more conVe-
economy and consideration.
basis on which the reserve |
is founded Is regarded as very |
able.
axes only 6 per cent of the
er banks capital" said Mr. Nc
and per cent Of it's reserve,
as a much larger percentage OF
serve now is kept with Eastern
Bank Location Sought.
re was much planning and
alton Saturday as TO the
IN OF the banking rooms
The selection OF officers for
II is stated among
best posted that at least $3.50
Ill be immediately available to
ish quarters for the reserve
but opinion is divided on the
lbility OF having q separate
ne. or Of leasing fcor in some
building, The new llealeN
ng has been most prominently
1ned In that connection.
r. Wilkinson. president OF the
IA Chamber Of Commerce; Wal
Cooper. secretary and other
$ already have had an informal
u 10 discuss the situation. but |
announced that it would be |
ture To aUemut TO decide on
ing until plans should have been
worked out and submitted TO |
ederal agents
,kyseraper Snaee Reserved.
liam y 6ealey. owner Of the |
y Building and A T. Lehman. |
leasing its space have stated |