The Birmingham age-herald., 1914-02-06
Wants Birmingham to Use
Influence in Behalf of
Crescent City
ARE MAKING WARM
FIGHT ON ST. LOUIS
Declare That Gulf of Mexico Should
Have Regional Bank by Reason
of Opening of Panama Canal.
Go to Memphis

A committee from the New Orleans
Clearing House association was in Br-
mngham yesterday for the purpose of
securing the Endorsement of the local
clearing house for New Orleans as Bir
mingham's second choice for a regional
bank site. The delegation left last night
at 10 o clock for Memphis, where they ex-
pect to receive an Endorsement
The Crescent City delegation was head
ed by James r. Stevens, bank examiner
for the New Orleans Clearing House
association, and with Mr.. Stevens We're
j. B. Ferguson, assistant cashier of the
Whitney Central National bank; j. B.
Pike, assistant cashier of the Hibernia
Bank and Trust company; NJ. B. Treze-
want, general manager of the New Or
leans Clearing House association.
The committee conferred with Cham
Der of Commerce officials. clearing house
officials, bankers and other citizens. They
presented New Orleans claims for a re-
gional bank, making plain at the same
time that they did not expect Birming-
ham Endorsement for first choice, but
only in the event that Birmingham failed
to win in its fight for one of the banks.
Gulf City Should Get Bank
One of the principal arguments ad-
vanced by the New Orleans party was
that a regional bank should be located
on the Gulf of Mexico. They consider
it probable that two regional banks will
be located on the Atlantic seaboard, one
on the great leakes and one on the Pa
cifc coast. The New Orleans delega-
tion contends that one should be located
on the Gulf of Mexico by virtue of
the fact that the opening of he Panama
canal will make that body of water one
of the most important. Every American
port on the gulf, say the New Orleans
men, has indorsed the Crescent City
for the bank.
The delegation seemed confident that
Montgomery would yet indorse New Or
leans as it's second choice, notwithstand-
ing the fact that Alabama's Capital City
has already indorsed Atlanta. A dele
cation from Montgomery is to be present
at the hearing in New Orleans, when
the federal reserve board is in that city,
and Mr.. Stevens said he believed Mont
gomery would yet line UP on the side
of the Crescent City. Mobile has al
itdtA lHuOlStu new oIledHS, dS It's CllOlcc
for the regional bank city. The commit
tee was very confident that Memphis
would indorse New Orleans.
Mr.. TreZevant advanced the argument
that Birmingham should support New
Orleans because of the close trade rela-
tions existing between the two cities.
Another argument advanced was that il
New Orleans should secure the bank Bir-
mingham would in all probability be
made a branch city, because of its ad-
yantageouS location.
Members of the committee have been
making a severe fight against st. Louis
and in this connection Chairman Stevens
made this statement:
Stevens Issues Statement
"Shut off on the north by Chicago, on
the east by Cincinnati Pittsburg, Phla-
delphia, Boston or New York, and on the
west by Kansas City and Denver, ST.
Louis realizes that desperate measures
must be taken to insure the establish
ment of a federal reserve bank in that
city.
Therefore, her only opportunity for
strengthening her contentious is to claim
that the entire south should be sub
sidiary to St. Louis. Should the st. Louis
plan prevail the whole south will be
ignored, and while the Atlantic, the great
lakes, the middle west, the Rocky noun
W
be represented, the gulf and southern
states will be denied a reserve bank. 1t
is pointed out by some that, totally aside
from the merits of the case (Which are
sufficient in themselves). the Wilson adj
ministration would not and could not
permit the south to be so grossly ig-
nored.
at was the democratic votes of the
south in Congress which made the fed
eral reserve bank system a possibility,
but under the ST. Louis plan the south
would be snubbed and put in a cate
cory of unimportance. 1t is inconceiv-
able that the selfish pi ogramme demand
ed by st. Louis will be carried out by
the reserve bank organization commit
tee and that the entire south will be
ignored and merely tied to the kite strings
of cenral western city. st. Louis seems
to be in earnest, however. in her de-
termination to grab everything in sight
but we of New Orleans are equally de-
termined that the south shall not be
carried away by any such programme,
and we have fully made up minds
to lead the fight against ST. Louis and
her anti-southern attitude, and we stand
unalterably for a reserve bank in the
southern states.
That we believe such bank should
be located in the metropolis of the south.
the gateway to the Mississippi valley and
the Panama canal may be taken for
granted. We believe that New Orleans
will be selected, but are leaving nothing
| to chance. and therefore, we put the en-
| tire south on notice that st. Louis Is
doing her utmost to deprive the south of
representation, and we call on all south
ern states and communities to defeat this
cl, MI ir,lra hi mr.