New-York tribune., 1914-03-31
Boston and Philadelnb,,
Other Eastern Cities
Picked as Certain.
COMMITTEES REPORT
DUE IN DAY OR TWo
Doubt Expressed That Full M.
Der of Twelve Districts win
Be Established.

Washington. March s0-,no.
months OF consideration the ressry, '''
organization committee-Socrs,a., Ssh
Adoo and Houston and Controns, ~, NO
lams-charged with LAYING the .r.
work for the new currency s,s,.
about ready to- define geogrsnhicon~
limits Of the Federal reserve d;s,.,..~
which continental United States is -,
divided for banking purposes AND =,
game time name the cities in a,oh ~,
trict where reserve banks are TO bs :
Gated II is the general expecta,,or ~.
that the announcement Of these co,.,.
sions will be made about April %, ~
committee is known 10 have rs,ch.a :,
point in its deliberations whers I'M.
mains to be done.
The committee has taken precsution, ..
keep its conclusions secret and hos
nounced that lists made previous 70 ,h..
official publication will be merely snsra
lative. Despite this fact there ha, h..,
great interest here in the doings OF N.
committee and volumes have been ,s,t,s
by those in official life who are not on.
tirely within the inner circle.
Opinion is not unanimous among ,h...
persons as 70 the number Of banks "a \.
established The law permits the est,A.
lishment Of not less than eight and 70,
more than twelve banks. There is A.,
parently little ground for believing M
the committee will name only eight cir.
and many persons are confident that n.
will select the fun number allowed.
The expectation seems 10 be quite r.r.
eral that there will be at least four cl,iy
on the Atlantic seaboard. In this sectics
Boston. New York and Philadelphia hay,
been named many times and Richmond
Atlanta, Baltimore and Washington hsy,
been put down on many of the unoic!,
lists. Between the Allegheny Mountain,
and the Rockies the prophets are not y
definite, but many Of them agree that ca
cago, 81. Louis and Kansas City are prn
tically certain 10 be chosen. and many a
them add Minneapolis, Cincinnati and N.v
Orleans or Dallas. Texas.
Persons who have figured their lists
largely on the resources OF the national
banks which are to become members o.
the reserve system believe only one bans
will be located on the Pacific Coast and
that II will he at San Francisco They
point out that In that territory the bsn@
are without sufficient capital to sub
scribe TO the stock Of more than one r
serve bank
There has been doubt in the minds y
some persons as 10 the number Of bans
10 be set up in the South. Atlanta, NeF
Orleans. Richmond and Louisville hav
been active in an attempt 10 secure
bank. but the committee has been 70
minded by others that the South east Ct
the Mississippi River is stIll borrow
ing country. Accepting this ststemsr'
as true. some persons IN their PROPHECIES
have limited their lists 10 ten. They De
clare that this would allow for naiiona
expansion in the South and permit th'
establishment of bank there later
one fact that has not been emphasizes
in the unofficial reports IS that the FED
eral Reserve Board. which is TO manage
the new system. has authority under lns
la TO change the districts and the cite
whenever II sees ft Although II seem
at present unlikely, the Reserve b0a''
could change the organization COMMIT
tees entire plan II 80 saw fit.