The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-11
BOSTON LIKELY TO
GET RESERVE BANK
Cabinet Members Are Believed
to View the Demand
FavOrably.
TO MAKE NATIONAL TOUR
No Decision Will Be Announced
Until Hearings Throughout
Country Are Finished.

BosroH. Jan. 10.-with the close to-
day Of the reserve bank hearing before
Secretary McAdoo and Secretary Hous-
ton IL was evident that Boston mer-
chants and the representatives Of banks
and business organizations throughout
New England have made a favorable
Impression on the Cabinet officials OF Bos-
tons demand for a reserve bank. These
two members of the committee declined
however. to discuss their views In any
way more than to say that they had got
some information which would be Of
beneft to them in deciding New England's
request for a regional bank.
Only by piecing together bits Of evil
dence In the form Of remarks made dur
ing the past two days and the questions
put to witnesses by Mr.. McAdoo and Mr.
Houston was It possible to conclude that
they felt that a good case had been
made out for bank here with its re
gion' covering a large part OF the six
Northeastern States. Their questions in
dicated that they were plainly in doubt
regarding that end OF Connecticut nearest
New York and that they wanted to know
more regarding what would happen to
western Vermont and possibly western
Massac husetts.
All Favor BostOn's View.
The hearing closed after few bank
ers and others were heard All were
favorable to Boston. The delegates heard
not single protest that might be- called
an out and out plea for the annexation
OF all New England to New Yorks re-
eion Secretaries McAdoo and Hous-
ton left for New York at l o'clock this
afternoon. They will remain there over
night and will proceed tomorrow to
Washington. where they expect to spend
a few days A hearing will be held In
Washington before they start on their
tour Of the middle West, Pacific coast
States and the Southwest TO hold other
hearings.
No decision will be reached on any of
the reserve bank cities they said. until
the committee had finished its trip and
has given ample consideration TO all of
the facts. They expect 10 be back In
Washington about the middle of Febru-
airy. DO It 10 likely to be the end OF next
month before the country knows the loca-
ton OF the reserve banks, aside from New
York. Chicago and San Francisco, which
by reason OF their positions and financial
standing in their own sections seem AS
sured b. yond reasonable doubt
Gordon Abbott, chairman of the direc-
tors OF the Old Colony Trust Company.
said that IL the reserve act was to be car
red out as he understood was intended
New England must have bank In order
TO give the proper equalization and bal
ance to the system. II one or two very
large banks are createHi II may be difficult
TO obtain enough capital for the others
under the per cent. limit
ON the Atlantic seaboard he presumed
that besides Boston New York and Phla-
delpha would be advantageous selections
The problem on this coast. he thought
was what to do In the southeastern Sec
tons Other good selections would be
San Francisco for the Pacific slope. St
Louis for the Southwest and Chicago for
the Northwest. He could not decide
whether Baltimore should be included un-
der Philadelphia or be included In the
Southeast region.