The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-04-03

the Federal Reserve Dist
, of Michigan not included in District No
T. with the city OF Minneapolis AS the To-
| cation of the Federal reserve bank.
This strict contains 6S1 national
banks which have accepted the provisions
| OF the Federal reserve ac:. The capital
stock of the Federal reserve bank OF
| Minneapolis on the basis of per cent
OF the total capital stock and surplus Of
the asserting national banks in the dis
! trict viii amount to s4.7O2s64
kansas City District.
District No lo--rhe states of Kansas
! Nebraska, Colorado and Wyoming. all
that part OF Missouri not includes in Dis
! trlct No. s. All that part of Oklahoma
! north OF line forming the southern
boundary OF the following counties: Ellis
I Dewey. Blaine. Canadian. Cleveland
/ Pottawatomie, Seminole. Okfuskee. McIn-
/ tosh. Muskogee and SeQuoyah and all
that part of New Mexico north of line
forming the southern boundary of the
following counties: Mckinley. Sandoval.
Santa Ne. San Miguel and Uniol. with the
city OF Kansas city. Mo. as the location
of the Federal reserve bank
This district contains aS5 national
banks which have accepted the provisions
/ OF the Federal reserve act. The capital
stock of the Federal reserve bank OF Kan
sas City on the basis OF 6 per cent. of the
total capital stock and surplus OF the as
senting national banks in the district will
amount to s55s3s55: and II there be
,dded per cent. OF the capital stock and
| surplus OF the state banks and trust COM
1anies which have applied for member
| ship UP TO April I, 1914, the total capital
stock will be s5.59+,sls.
Dallas District.
District No. 1.-THE State OF Texas,
! al that part Of New Mexico not included
in District No 10; all that part OF Okla
| homa not included In District No. 10. all
hat part OF Louisiana not included in
| District No. and the following counties
IN the state OF Arizona Pima. Graham,
Green'ee. Cochise and santa Cruz. with
! the city OF Dallas. Tex, as the location
| of the Federal reserve hank.
This d.etrict contains 1876 national
| banks which have accepted the provisions
of the Federal reserve act. The capital
| stock Of the Federal reserve bank of Da!-
las on the bass Of per cent. OF the
| total capital stock and surplus OF tho
asserting national banks In the dis
trict will amount to s5.520lS7, and =
| there he added per cent. OF the capital
stock and surplus of the State banks and
trust companies which have applied for
/ membership up TO April I. 1914, the total
capital stock will be s5.63I.09l.
! san Fra ncisco District.
'Dlstrlc, No. I2-The States Of Cali
fornia. Washington. Oregon. Idaho. Ne
vada and Utah and all that part of .,ri-
iona not included In District No. IL, with
the city Of San Francisco. cal. as th-
location OF the Federal reserve bank.
This district contains 6l4 NATIONAL
banks which have accepted the pr visions
OF the Federal reserve act. The capit. Al
stock or the Feds raj reserve bank IL San
Francisco on the basil - per cent -
the total capital stock ana surplus OF the
asserting national banks In tho dis
trict will amount to s7s25.405, ana II
there be added per cent. OF the capi'dl
stock and surplus OF the STAGE banKs
and trust companies which have applied
for membership up to April l. 1914 ;he
total capital stock will be ss,ll5.52l.
The comm, ttee adds
THE committee was impressed with the
growth and development of the States OF
Idaho, Washington and Oregon, but on
the basis OF o per cent. OF the capital
stock and surplus Of national banks and
state banks and trust companies which
have applied for membership. that Sec
ton could not provide the - 900. 900 IN. nj
mum capital stock required by the law.
with the continued growth OF that
region il is reasonable TO expect that In a
few years the capital and surplus of it's
member banks will be sun cient to Justify
the Great on of an additional Federal re-
serve district at which time appllca ton
may be made to the Congress for grant
OF the necessary authority"
Factors In Selections.
These are the factors which governed
the committee in making Its selections:
"First-The ability of the member
banks within the district to provide the
minimum capital of $4,000, 600 required
for the Federal reserve bank on the basis
OF 6 per cent OF the capital stock and
surplus OF member banks within the dis
trict.
"Second--The mercantile, industrial and
financial connections existing in each DIS
trict and the relations between the vari-
ous portions OF the district and the city
selected for the location of the Federal
reserve bank.
"Thrd--The probable ability OF the
Federal reserve bank In each district.
after organization and after the provisions
OF the Federal reserve act shall have
zone into effect, to meet the legitimate de-
mands OF business, whether normal o..
abnormal In accordance with the spirit
and provisions OF the Federal reserve act
"Fourth-The fair and equitable Ill
vision OF the available capital for the
Federal reserve banks among the districts
created
"Fifth--The general ographical situa.
| tIpn OF Int hlhlIhl 'lhH1I'l NhNloi llHfS
and the facilities for speedy commurca-
ton between the Federal reserve bank
and all portions OF the district
"Slxth--Ths population, area and
prevalent business activities of the dis
trict, whether agricultural, manutactur-
ing. mining or commercial its record OF
growth and development In tho past and
its prospects for the future.
Tried 10 Follow state Lines.
TN d"t,rm ming the : verai districts
the committee has endeayored to follow
stat" ros as closely as practicable and
: wherever It has been found nee ssary Ia
d'Viat" the division has heen along lines
which are believed TO be most convenient
and advantageous for the district affected -
The committee before making its seicc.
Gus held hearings in eighteen cities from
N" Atlantic to the Pacific coast and from
IN great lakes TO the Gulf
70 More than 200 cities through their clear.
10 lnE associations, chambers OF Commeio,
+ and other representatives were heal A.