The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1914-04-09
REGIONAL
BANKS TO
OPEN

Washington, Apri b.. Treasury
reserve banks Will be open for bust
Hess within three months. The Or
ganlzation committee which announc-
ed the location OF the regional banks
last night toiay certified the select
ion to Comptroller OF the Currency
Williams, who began notifying each
OF the 7S4S banks which applied for
meni bership The banks next step
WIFI the selection OF the boards of
directors for the reserve banks. There
are 10 bs nine directors for each
eral reserve board which Is yet to be
named by the president, and six elect
ed by the member banks In each dis
trict, After three months OF consid-
GRAFTON the reserve bank committee
last night announced thar 1t has dI-
v!ded the continental Uniteu States
into II banking districts and select
ed L. cities where federal reserve
hanks are To he located under the
ne" currency law. This was the
first decisive step toward the estao-
lishment OF the new system. The
cities aud districts follow
District No. /, Boston; territory
included, New England states.
District No. ,, New York City;
territory, state of New York.
District No. }, Philadelphia; tsrri-
tory, New Jersey, Delaware and part
OF Pennsylvania.
District No. 1, Cleveland: terrific
rE parts OF ohio, West Virginia and
Kentucky.
District No. 5, Richmond; terri
tory, District of Columbia, Maryland,
Virginia, North Carolina, South Car.
olina and part Of West Virginia
District No. ., Atlanta, Alabama,
Georgia, Florida, and parts OF Ten
nessee Missippi and Louisiana.
District No. I, Chicago; territory,
Iowa, parts of Wisconsin, Michigan,
Illinois, and Indiana.
District No s, st. Louis; territory,
Arkansas, parts of Missouri, Illinois,
Indiana, Kentucky, Tennessee add
Mississippi.
District No. 9, Minneapolis; ter
ritory, Montana, North ana South
Dakotas, Minnesota, and parts of
Wisconsin and Michigan.
District No. 10, Kansas City; terri
tory, Kansas, Nebraska, Colorado,
Wyoming and parts of Missouri, Or
lahoma aud New Mexico.
District No IL, Dallas; TERRITORY,
Texas, parts of Oklahoma, New Mex.
clio and Arizona.
District M. -, San Francisco; ter
rit0ry California;, Washington, Ore
gou, Idaho, Nevada and remainder
Of Arizona.
The organization committee In It's
announcement called attention To the
TACT that under the requirements of
the act ii could not ind grounds for
the establishment OF more than one
hank ON the Pacific coast, but held
cut the hope that in the near future
another uank would he authorized hy
congress and located some where in
this great section. IL il said In this
connection
The committee was impressed
with the idea that growth OF and de.
Velopment Of the state of Idaho
Washington aud Oregon, hut on the
basis NJ the per cent Of the capital
stock and surplus ~ national banks
and state banks and trust companies
which have applied for membership.
that section could not provide the
A,oO. $50 minimum capital stock ~.
quired hs tue Law With the con.
tinusd Ero~th Of that region Ii Is
reasonable to expect that in few
years the capital ana surplus of its
member hanks will ~ sufficient To
justify tire creation OF an add iona
fedora reserve district, at ~hlet
time application may he made to the
congress Tor grant ot the necessary
authority.
THE next step 10 be- taken los the
organization committee viii b. tie
notification 10 hanks entering the
system. Of the plans Tor Ihe districts.
Within ~ DAYS after such notice is |
reeslVsd by banks, each must, under