The Birmingham age-herald., 1914-01-22
Both Are Confident of Sc
curing Regional Bank
for Birmingham
HARDING EXPLAINS
WORKINGS OF LAW
Only Four Cities Certain of Bank, He
Says, and Birmingham's Chances
Are GOod-k ettig Presents
Some Statistics

At the regular weekly luncheon of the
Rotary club held at l o'clock yesterday
afternoon at the German cafe of the Hotel
Empire w. p. G. Harding and w. II.
kettlS divided honors as speakers of the
day. Mr.. Harding is to make the initial
argument before the federal reserve or
sanzation committee and. as he expressed
IT, he was practicng on the Rotarians
He told his hearers much about the cur
reney measure. showing its workings and
Its mary advantages. Mr. Kettig follow
ed Mr.. Harding and gave some salient
facts and figures about Birmingham and
delved just a little into ancient history
in order to find a fitting smile for the
attitude of some pessimistically inclined
persons in regard to Birmingham's fight
to secure one of the regional banks pro-
vided for under the new currency bill
The luncheon yesterday was, perhaps,
the most largely attended in many weeks
and Mr.. Marunga's cafe was crowded
when Mr. Harding began his speech In
the beginning Mr. Harding explained the
methods of commercial banking and told
how the commercial and national banks
carried their reserve funds under the old
currency law.
But Four Cities Sure of Banks
The speaker showed his hearers the vast
advantage of the new bill and one of
his striking statements was that New
York is sure to receive one of the banks
Chicago will get one, Louisville will get
one and SO will San Francisco Beyond
these four cities all is uncertainty Bir-
mingham's chances to secure one of the
banks are excellent, and | have every
confidence in the committee of the Cham
Der of Commerce. which is working to
that end"
Mr.. Harding illustrated how there was
tightness in the money market by bark
ing back to boyhood days. He told of
how in the days of childhood the little
boys would all play marbles at a certain
time of the year, ana at another time
tops would be all the rage and marbles
would be a drug on the market. He ex-
planned that if one boy should retain his
marbles after the top season. the other
boys would bring to him their tops and
give them to him as security for the
loan of 10 marbles. This would continue
until the boy had given cut all his mar
bles. When another boy would come
to nm later to get some marbles, he
in his possession 10 tops to show for the
100 marbles. He would take his tops and
visit another school where tops were in
use and would exchange top for 10
marbles, in order to get for his COM
panions the toys then IN use in his own
school. When tops again came into favor
the boy would recover his marbles and
thus there would be no stringency. The
boy who was taking tops as security for
marbles represented commercial bank
and the school in which tops We're in
favor represented the regional reserve
bank
Mr.. Harding said that under the new
currency law a general collapse of banks
and business houses would be practically
impossible. He said that there would be-
perhaps, some failures, but that must
be to the end of tme-some firm or cor
poration would fail to properly conduct
its business and the result is inevitable
failure. Mr.. Harding closed his address
with these words:
Hearings Are Business-Like
I'VE know that Birmingham is the best
city i'll the country for the location of
one of the regional banks, and we shall
try to convince this government organiza-
tion committee of this fact. understand
that the hearings being conducted by the
committee are very business like, and
tidt 'io llduiDouyd ant oTdlOfy Is permit
ted, that the speaker must confine himself
to the facts and must be prepared to stand
a rigid cross examination" He asked
anyone present to offer any suggestions
or ideas he might have in regard to Bir-
mingham or any argument for Birming-
ham to tell it to either himself or Mr.
Kettig. thanked his hearers and was en-
Enthusiastically applauded.
MIR. Kettig took the floor and paid a
tribute to Mr. Harding, saying that his
committee had ben very fortunate in Sc
curing his services to make it's opening
argument before the government organ
izatiOn committee.
I'VE were, of course, greatly disap-
pointed because the committee said it
could not stop off for a day in Birming-
ham, said Mr.. Kettig. but we have not
given up the idea of securing one of the
banks, and will not give up the idea until
we see it go somewhere else We are
out after the bank and we are out after
the committee. and we must have both of
them / have faith enough in the intel
ligence ane fairness of the committee to
believe that they will not at the last mo-
ment overlook this city, but II we have to
plead orr cause in hostile camp we will
be there and will make a good showing.
Il have already explained to you in
other addresses the advantages to be de-
rived from having such a bank in Bir-