The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-04-03
nnnkers Herr returns.

to the community Increased happiness
and prosperity
Hnnkers Herr Returns.
Early in tho afternoon word came
from Washington that the organiza-
meeting. and that tho list would be
announced at it's conclusion. john l..
Williams & Sons telcphoned invitations
to the other bankers of the city to at
tend and hear the results. and the at :
tendance was large. Oliver ]. Sands,
chairman Of tho executive committee,
and George G. Gregory, executive sec
were confident Of success. as were all
who had worked for the movement
George J. Scay, whose convincing fig
urcs showing tie prestige of Richmond
in financial matters, had much to do
with the result, was one OF those most
confident that the organization com
mitiee would decide on merit. and that
those figures could not be upset
About o'clock Mr. BcIniSs secured
special telephone connection with the
Office OF the Comptroller OF the Cur
rency in Washington, and held il un-
broken until the news was givcn out
While the committee was in session. r.
Lancaster Williams. talking from
Washington, Kept the wire hot with
cheerful comment. Al o'clock it was
stated that everything had been com
plcted but the formal signing Of the
papers by Secretary OF the Treasury
McAdoo. Secretary Of Agriculture
Houston and Comptroller of the Cur
rency Williams, who formed the organ
iza,ion committee. IN anxious Dcriod
al Ir tee.
his ear to the wire and conversation
fell 10 whispers.
II wish the jury would not stay on,
so long, remarked Eppa IIunton, Jr
in an audible undertono.
Secretary Gregory, Chairman Sands
ana MT Seay took their places at a
table TO trace the reserve districts on
maps as they should be announced
Comptroller Telephones List.
Just before $50 o'clock John SHELTON
Williams came to the telephone, and
Alr. Bemiss repeated back each SEN
.ehce distinctly. so that 1t might be
heard by all present. District No. |
comprising the New England States
with regional bank at Boston. having
capital OF $10.000.00O, was first called
ana noted on maps. No. followed
new york state, with a regional bank
III New YORK city, having a capital of
S!o.0Vo,OOo No. 3 was read out for
Philadelphia, the district TO be com
POSED or New Jersey, Delaware and
Eastern Pennsylvania, with a capitaI
of S1S,O00.O0O
no came as surprise to nearly
every one. the bank being located at
Cleveland, with a territory containiny
Ohio. Western PENNSYLVANIA and the
panhandle of West Virginia. with n
capital of sl1,5oo,00 Local banknrs
had expected this bank to 20 to pitts
.uISh or 10 Cincinnati, but were de-
iShted at Cleveland's victory, as the
NeHIho committee. in presenting its
ssnerai piah or reserve districts. had
argued strongly for Richmond.
10 hold his hearers in SUSPENSE Nv
N'iihins deliberately skipped the Rich
inond district-No. sand went IN tho
bottom OF his list, reading the San
francisco bank-No l2-then Dallas
Kansas City, Minneapolis. st. Louis and
Chicago. In 4 spirit of grim humor.
he insisted that that was all. Under
pressure, he admitted that there was
another-No. G-located at Atlanta
with district composed of Alabama
Georgia Florida, Eastern Tennessee,
southern Mississippi and Southeastern
Louisiana. with capital of S4,7e0,0o0
ttichmOnd's District.
From the way the map looked there
was now left 4 compact territory COM
posed Of Maryland. the District of Co
lumbia, West Virginia, except the four
panhandle" counties; Virginia, North
Carolina, and South Carolina. There
was pause as Alr. Williams pretended
TO tumble through his notes The
bank might he at Baltimore or Wash
ington or Richmond BEFORE the name
OF klchmond was given, the Information
came that tho local bank would have
Il capital OF S6,5o0,00 making /, the
seventh IN size of the system of
twelve. being exceeded In size ONLY bv
Nnf 10,
.'rancisco, Chicago and Cleveland The
Richmond bank leads I'm position over
those at Atlanta. Dallas, Kansas City.
Minneapolis and ST Louis
when the cheering had subsidized,
CONGRATULATIONS offered to those who
nave worked hard for Richmond, and
when kilograms OF thanks had been
sent TO the organization committee
and 10 those who have aided in Rich
mond's fight, the bankers began ia take
stock. The opinion was unanimously
expressed that tho designation of Rich
Inond as financial centre was tho big
Eest step forward that Richmond hna
taken in more than n generation. and
mat II would make its influence felt in
every line OF trade and occupation.
May BE in Federal BuIIding.
Among the uninitiated some disap-
pointment may be expressed over the
bank itself. 1t may not be an i'm
is II necessary that it should have an
army OF clerks. 1t Will have several
mighty skilled men III charge. and q
limited number OF clerks, but its bust
ness Will be chiefly with banks. doing
II business to the popular mind more
similar to that of u trust company
IMAM that OF q bank. Quarters must
be secured in the financial district
with sufficient Office space and a Sc
cure vault. Since the bank is an ac-
tivity OF tho Federal government, the
suggestion has already been made tJlat
If the government acquires the prop
crty and extends the Federal Build
ing TO cover the entire block. the
corner at Main and Eleventh Streets
may be especially designed for the
Federal reserve bank. with an entrance
of its own.
Aside from the advertising prestige
which comes from the Official recogni-
ton of Richmond as the seventh fnan-
ctal centre of the United States, the
great value OF a regional bank located
here, 1t is stated, is to business rather
than to banks. The opportunity Of
discounting commercial paper and Of
having 1t handled by "A board of South
ern men familiar with Southern con-
ditions, is regarded as most important