Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-04-20
CITIES COMBINE
IN B|GFIGHT ON
BANK DISTRICTS
Baltimore, Newark and New
Orleans Join Forces-Jersey-
men See McAdoo.
LIrrnm n stnn Corresnondent.l

TErOrn SfnH correspondence
WASHINGTON, April 2O.-By COM
bining forces with Baltimore and
New Orleans the bankers of Newark
End Northern New Jersey will prob
ably be able to compel a reconsider
alton of the regional banking dis
tricts. Action looking to this result
was arrived at today after a consul
fation between congressman repre-
senting the disaffected cities. Balti-
more emphatically resents being com
PEELED to go to Richmond, va to DO
its banking business
New Orleans is UP il arms argainst
being thrown into the district with
Dallas, Texas, as its headquarters.
The two representatives of the New
Jersey Bankers Association, Walter
M. Van Deusen, of Newark. and K.
ID. Foote, of Morristown, hope
through this combination of interests
to bring Newark and Northern New
Jersey back to New York.
Senator Hughes, with Representa-
tives Mccoy Townsend, Kinkead,
futile and Walter NJ. Van Dusen and
r. d. Foote, held a conference with
Secretary McAdoo this morning. The
reasons why Newark should be
placed in the New York district were
gone over and the changes urged by
the New Jersey bankers committee
Endorsed by Senator Hughes and the
representatives were discussed.
Comptroller j. Shelton Williams, a
member of the organization commit
tee that selected the regional bank
districts, said that his committee had
requested Judge Elliott, the counsel
for the committee, to give an opinion
on the subject
The counsels opinion was that the
organization committee having made
Its report that decision must stand
until reversed by the federal reserve
beard The New Jersey representa-
tives declared that they would pro-
test to that board when ii was
named.
Baltimore Taking the Lead.
Baltimore is taking the lead in this
agitation for o change of the regional
bank districts through it's powerful
Merchants and Manufacturers Asso-
CATION A committee of fifty mem
bers of that organization Will come
Ia the capital tomorrow to work WIN
the representatives and senators OF
Maryland, and through them with the
secretary of the treasury, Secretary
houston anu AuullOI ~
bring about the desired change"
The senators and congressman OF
Louisiana and New Jersey Will be
asked of unite forces with them In
the arguments to be employed with
the committee to have the regional
districts changed to meet the de.
rnands of the business interests OF
the three big cities that have been
placed in a subsidiary and embar-
RAISING position by the present ar
Iangement.
The present plan is to have the
legislators draft q resolution for pre-
sentation to Congress reciting the
failure of the organization committee
In their work of allotting the regional
tank districts to do justice to the
great sections of the whole country;
setting forth the obvious and too APP
parent scheme of monetary improve
iiient which constitute the Keynote or
the new currency measure, and at the
same time showing by facts and fig
tres how the letter and spirit of the
currency act had been ignored by the
committee to whom was left the i'm
portant duty of assigning regional
banks.
TO Attack Committees Power.
The protest. or resolution, is to con- |
gress has made a mistake in confer
ring such broad and exit aordinary
powers upon three men, and there
fore the proposal is made that an
amendment to the OwenS-Glass law,
whereunder and whereby the future
financial policy of this country was
70 be shaped, and the regional dis
tricts outlined and the reserve bank
cities specified.
This general plan will be discussed
tomorrow when the representatives
o: the financial intrests of Baltimore
and New Jersey come together.
There is a story going the rounds
here that the original plan of the or
Panil3t ton committee called for the
Placing of Newark and the cities of
Northern New Jersey in the New
York district but this was altered
- crafty the sentimental reasons of
enc of the members who wished to
have Richmond Va. made a regional
hank district. There was a general
change of the plans then, whereby
Newark and Baltimore suffered by
the change
Senator Hughes and the congress-
men from Essex have announced that
they are willing to do all in their
power to satisfy the local clamors.
They will probably attend the confer
ence to be held tomorrow with the
Maryland and Louisiana representa-