The Washington herald., 1914-01-11
CAPITAL BANKERS
complete PLANS
Arguments for Regional Re
serve Center Here Will Be
Made Wednesday.
WHAT M'AD00 WANTS
Boston Hearing Indicated Sentiment
for Washington H Mckee. Of
National Capital. to Appear.

-,.. -A,.. 80 1900. e,h,. .,tv,.
'.'.'e'
claims Tor regional reserve osnk' wiz
be heard by the reserve board organiza-
tios committees Wednesday morning.
,-,,. y,,,-.. ...., o.. g. .,,,.
Miiton =. Enio''' counsei ior '"e e'
mittee, returned to Washington yester-
day from New York. He stated that the
comn't'ee prooaoiy WIZ oeso'e 'on'o''o"
and Tuesday to executive work made
necessary by the New York and Boston
b.a,invs and that 4, MAS un,;ke,v that
~
washington couid De nearo before wen
nesday! In that event the hearing. Mr..
Elliott stated. would be held early in
the day In order to suit the convenience
OF the Baltimore committee
The argument for bank In Washing
ton will be made by III. II. Mckee, Of
the National Capital Bank. Mr.. Mckee
closely followed the hearings on the
currency bill as well as the bills progress
through the House and Senate. He Is one
OF the best informed men In the country
on the details and scope OF the new law.
and his argument Is expected to land the
prize for Washington.
No little importance attaches to the
testimony given at the hearing in Boston
yesterday.
{. w. Barron, representing the Massa-
chusetts Bankers Association. in answer
to an Inquiry from Secretary McAdoo.
said: "All banks of the South Atlantic
coast might go into Washington. 1t would
be highly educational for the country and
Federal board to have a regional reserve
o"hA at washington
Aoe
Secretary McAdoo has made II plain in
New York and Boston that the informa-
ton he wants Is OF a strictly business
fashion. He announced yesterday I'm Bos-
ton the exact scope OF the hearing and
the same applies to this city.
The purpose Of the committee in visit
ing the different sections is to obtain such
additionai information as will shed light"
sald Mr.. McAdoo. Regional banks may
nave branches and II Is expected these
Iacintes VIII De placed at the disposal of
al parts OF the district. so that banks
IN every part VIII be within easy reach
enner OF HEADQUARTERS or some branch
inns selection OF regional bank head
quarers Is a most important economic
pfooien- inns committee Is here for bus
."s anu VIII deal with this problem in
sIic,iy business fashion We want in
,, more particularly as to the
1850 " eAchahges ana business trans |
a. ..,Se IN this section.
uo not heea 10 De informed of Bos- |
-, . i Importance we do |
T., ~ rinea on general conditions
-, ~ "nat part VIII be best
$50 os d oanh IN hoston. and whether
\. - :, ''u 81 10 Ne" York or no
District Heads Indorse.
At the reouest NJ the ,i..-,I
committee the District co,,r.is.,a
Yesterday decided 10 give th.ir ;rso
ment to the project
This statement was issu.5 ,r,,., a.,
Office.
.In response 10 a -s,r.v, ,-,,
Clearipr-bonso A.sos,.,sn
the Commissioners have dsr;aas =. -.
in the effort 10 bring about th. 49,
ishment OF Irnited 500 .ss',
reserve bank in the District OF Columbia
we're informed py a
-sn.a he Tearing mouse Asso-
..o. 'oas mat NOT only tnat body.
~. aiso the BANKERS Association OF the
n.y. embracing all the banks and trust
companies IN washington. and the three
rade organizations. the Chamber of
commerce. the Board OF Trade, and the
Retail Merchants Association. have
oined in the effort to get a regional re-
'erve bank for the National Capital
in view of this fact and in view of the
urther fact that the Commissioners were
impressed with the desirability of WASH
ngton as a regional reserve city, as ex-
,lained by the committee from the Clear
ng-house Association. the CommIssion-
rs are glad to ada their eryorta 10 thee
4 the other Interests NJ tba citv NOV,
1