The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-03

! sILiv OOOlNIIlOA
SOUTHERN FUNDS
Continued From First Page.)
York. We have the Southern territory
Virginia, North and South Carolina,
| and parts of West ylrginia-and 1t
might BIO that points in Tennessee and
Kentucky along our railway lines could
clear hero conveniently.
! Asks Aid of Glass.
II wrote to Congressman Carter Glass
early yesterday morning, MS soon as
my attention was called to this mat
ter. urging him as strongly as GOULD
to lend us his assistance In securing
for Virginia a Federal reserve bank
inclosed to him figures showing tho
banking business of Virginia as COM
pared with other NStates. have re-
ceired no personal reply. but saw in
| newspaper this afternoon that he had
given unresoryed and enthusiastic as
surances of his support. The support
of John Skelton Williams will also
be very valuable In this fight"
The organization committee, In its
general outlines, has set n basis very
| favorable to Richmond" said General
Chairman Purcell. I'VE are In n geo.
graphical position most desirable for
tho whole territory 20 be served. The
trend of trade and finance the country
over Ia to New York. 1t would be n
mistake for the organization committee
to draw q circle and then locate q re-
be as near as possible to the edge OF
the circle nearest to New York. Take
the credits of South Carolina, for In
stance. If handled through Richmond
New York. while If handled through
Atlanta they will have to go further
away. and then double back on their
tracks. Money sent here from Jack
sonvillo is already halfway to tho cen
tire OF gravity. IL the South Atlantic
States are to be made reserve region.
then Richmond. with its railroads rn-
dating In every direction. is on the
edge of the circle nearest to tho finan-
| cial centre"
Active Campaign On.
| George j. Seay. chairman of a special
committee on information, reported n
prolonged conference with commit
tee from the Chamber of Commerce, in
| which letters had been drawn up to
commercial organizations throughout
three states. urging on them the rea-
sons which make Richmond the logical
point for Il reserve bank. and seeking
their cooperation. Reports showed
that the Travellers Protective Associa-
tion has already taken tho matter up
with twenty posts scattered over Vir-
gInia. President Sands, of the Ameri-
| can National Bank, said he had written
personal letters yesterday to every
bank in Virginia and Carolinas CORE
spending with his bank. urging n
Southern bank for Southern people.
| The financial business of Virginia
| and the Carolinas, he urged, should be
centred where men have at least seen
growing cotton. and know something
of tho cotton business-of the South
and its financial needs. Banks of
Southern States did not want their
credits passed on by boards composed
/ OF New York or Philadelphia men, not
/ familiar with Southern conditions, and
had no desire to be tackled on to n
territory they had absolutely no con-
, nection or trade relations with. When
the banks and business men OF the
three States realize results that would
follow such an effort to reverse the
currents of trade. Mr.. Sands was GER
| tain they would stand solidly for Rich
mond.
| Executive Committee Named.
| In order to facilitate the handling Of
details an executive or steering COM
mittee was appointed, to have full
| powers to act between the meetings
OF tho general committee. Tho execu-
! tive committee Is made up rs follows:
| o. j. Sands, chairman; Edmund Strud :
wick. representing the Chamber OF
Commerce; John Landstreet, represent
| ing the Business Mems Club; b. FL.
! Randolph, representing the T. p A;
John Kerr Branch, representing the
bankers or Richmond, and President
r. Lee Peters, OF the Common Council.
representing tho city government. The
| executive committee met at once. and
will hold further meeting at 1
! o'clock to-day at the Business Mems
| Club. to decide on the personnel OF
committees to visit the Carolinas and
lA,.1 tet Mt Il <<fn @l&l
tons. The general committee will
meet on Monday at o'clock Mt the
! Business Mems Club.
Seek Aid OF Carolinas.
1t is tentatively proposed TO send
out two committees on Monday, one
going down the Atlantic Coast as far
as Charleston. and the other follow
ing the Southern Railway to Green
Vile. meeting the commercial and
banking organizations Of the cities and
towns. The two committees will be
under tho leadership of William II. Dab
ney. business manager of the Cham
Der OF Commerce. and Horace T.. Smith,
whom have led trade excursions
through that territory with great sue
cess.
Among those who It Is suggested
may go on these committees are: Mr.
Sands. Herbert w. Jackson. president
VI tHO lTuSl company, I1enTy
u. Litchford. OF the Old Dominion
Trust Company: John 81. Miller, Jr., OF
the First National Bank: Thomas e.
McAdams, of the Merchants National
and others. Each committee is to have
AN official representative OF the city
government i'll its party to speak for
| the city.
AT Il meeting OF the Advertising
| Committee of the City Council last
night. full approval was given to this
| project, and President Peters, OF the
| Common Council, and President Adams
of the Board of Aldermen, were named
| to represent the city. Substitutes will
| be named from the Advertising Com
| mittee IL they are unable to go.
Sands to Virginia Bankers.
| o. j. Sands, chairman of the execu