Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-02-15
SOUTHERN CITIES PLEAD
To GET REGIONAL BANK


! population and finances represented II
/ the district constitute one ninth o.
| the crops, commerce, population anc
! 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 Geographic
and telephone business, but more
particularly upon the sequence of
crops in the region, showing that 1t
produces IN the market a crop Of
enormous value once every month the
year round.
Business Increase Normal.
One Of J. X Ottleys strongest ar
guments to the committee was the
compactness OF the Atlanta region,
the similarity OF business methods
throughout this Southeastern terri
tory, the fact that the $4,000. 900 of
bank clearings In the district repre-
sents a doubling thereof OF twelve
times since 1893, putting Atlanta in
the lead over any other city in the
South.
Specific data presented by Mr. Ott-
ley proved to the committee that the
increased bank clearings have been
brought about by normal increase of
business.
Robert r. 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 signif1ed 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 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 Atlantas 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 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-
caslonal year that Atlanta and the
South has to 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
a 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 sddi-
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 Prown gave the committee
an outline of the telegraphic and tele
phonic equipment OF the territory
showing that a direct connection with
washington, ID, C., may be had from
Atlanta in two minutes: that the
wires in the territory are all new anG
OF copper, and that the equipment
generally is new and of the best.
Nell r. Wilkinson, president of tn,
Atlanta Chamber of Commerce anc
of the Ashcraft- Wilkinson Company
presented statistics in a brief to show
that cotton seed products and com.
mercial fertilizers, as industries, hav,
been developed in this section unit
| they are an important factor in tn,
finances of the Atlanta region.
Clyde l.. King, president of the At
| lanta Agricultural Works, dealt will
Auanta's trade in the Southeast II
| implements and the relation of tina
trade TO agriculture in the Allan,
region. He said his business can b
| greatly increased with the establish
/ nf raUfnvaI ho MI ir