The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1914-04-07

tefday TO secure n of the branch
banks which will be established in q
number Of cities as part Of the new
federal Reserve banking system.
The activities for a branch bank
had their inception Friday when Mr..
Joseph G.. Brown, president Of the
Raleigh Clearing House Association,
read in the News and Observer that
Richmond had been awarded One OF
The regional banks. 1t occurred to
MIN at once that by reason Of Raj
eigh's location and close business Tela-
sions with Richmond this city would
pe admirably suited for one Of thu
branch banks. A meeting of the
Clearing House Association was call
ed and the bankers instantly approved
ahe plan. Then President John c..
Drewry, of the Chamber Of Com
merce, was seen n there quickly re-
suited a call for a joint meeting Of
the Board of Directors Of the Cham
Der of Commerce and the Raleigh
Clearing House Association for yes
terday at 1890 o'clock at the looms
of the Chamber Of Commerce.
Movement Heartily Received.
The joint meeting was heartily In
favor Of the movement and it was the
belief Of all present that Raleigh
ought to make a vigorous effort to Sc
cure a branch bank and that the ef-
Sorts to secure the bank ought not to
be lacking in ~earnestness by reason Of
she fact that the feeling is general
fhat Raleigh has so many advantages
That it stands little risk of not secur-
ing 1t.
After discussion yesterday the
Board of Directors of the Chamber OF
Commerce. on motion OF Prof. w. A
Nithers, decided unanimously to use
ats best efforts in securing the ban
cooperating with such other organ
cations and citizens as might be will
Ing to assist in the undertaking.
h bank men agreed that the,
could be most useful to the cause b!
writing the officials of the Smalle,
banks with whom they do bushes
and enlisting their support. They al
so said they would write their bank
ing connections in Richmond n ge
the Richmond bankers to reciprocal
The exceptionally good work which
Raleigh did in assisting Richmond I
secure q regional bank. Mr.. Brow
said he had already wired the presi
dent of the Richmond Clearing HOus
Association ~bespeaking favorable con
sideration for Raleigh's application
che mixer also agreed to colleo
data for publication in the newspaper
and possibly in booklet form, settin
forth Raleigh's advantages.
President Drewry said the Rich
mond Chamber OF Commerce was VeT
close to Raleigh and that he felt SUI
the members of the Richmond organ
ization would be fayorably disposed
Raleigh's claims.
Mr.. w. II. Bagley placed the New
and Observer at the command OF tn
organizations back of the mOVemel
10 such a nextent that Raleigh
wishes in the matter could escape tf
attention of one of the News an
Observers clientele. Mr.. John
Park said all the newspapers Wante
was to get an opportunity to get b.
hind the movement. President DreV
ry and other members of the Chan
Der of Commerce and Clearing HOu
Association. acknowledging the tel
der of aid from the newspapers. MAJ
note of the fact that the newspape
mad always beer most loyal and e
fective in every move for the advanc
ment of Raleigh.
Function OF Il Branch Bank.
Several persons inquired as TO Il
function of a branch bank. in a
swer, Mr.. Brown said that 1T would
a business largely between banks D
would probably necessitate a sepafa
building. 1t would be, he said, e
local agent of the regional bank
that business could be done with I
regional bank through it the same
1t could he done through the region
bank itself.
Col. CHARLES r.. Johnson said I