Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-02-14

l
riculturist worked the other way
| round
HEARING Nears End.
| Inc birmingham delegation, eX-
| pecting to be called next, was in the
courtroom in full force fifteen repre-
sentatlVes being present, though ONLY
one speaker was to offer the case
! They all wore bright red ribbons i!
| their lapels
| Birmingham and Savannah viii D.
heard, and then the hearing will end
| referred to-
Speakers Confined to Facts.
| Secretary McAdoo held every
| speaker down to facts. He constant
| ly interrupted those who appeared be-
| fore the committee such remarks as
Il don't believe we care to hear any
more on that point" please leave
that matter to our discretion, as it is
| purely an Inference
| Secretary McAdoo. Secretary Hous-
| ton and Comptroller William often
stopped the speakers for Atlanta with
| shrewd, close questions on given
points.
J. K Orr, first speaker for Atlanta,
| outlined the region Atlanta best could
serve with a regional bank as in
Guiding North. and South Carolina,
| Georgia, Alabama, Tennessee, Missis-
| sippi and Florida.
| Mr. Orr pointed out that Atlanta
| has several million dollar banks, that
| the territory named tends toward
] Atlanta through the natural channels
| of trade, that the crops commerce,
| population and finances represented in
| the district constitute one ninth Of
! the crops, commerce, population and
! 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 ii
| produces in the market crop of
enormous value once every month the
! year round.
Business Increase Normal.
I One of j. X. Ottley's 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 1925, 900, 900 of
bank clearings in the district repre-
sents a doubling thereof of twelve
| times since 1898 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 F. 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 signified it's 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 Atlanta's re-
sources
Chattanooga Second Choice.
In response to direct questions from
the committee, Mr.. Maddox said At
anta might select Chattanooga as
the site of reserve bank, as second
choice, but that New Orleans would
be favored under no consideration.
I'VE 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-
casional year that Atlanta and the
South has To cali in outside resources
to help move the cotton crop. then
went on to show that financial help at
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
crop conditions are and have been for
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 addi-
tional data will be prepared and sent
to the committee in Washington be-
fore March /. Statistics were pre-
sented by Mr.. McCord showing that
crops and manufactures have doubled
in the region in the last decade.
j. Epps Brown gave the committee
! an outline of the telegraphic and tele-
phonic equipment OF the territory,
showing that "A direct connection u1tb