Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-02-14
j, s, BANK COMMITTEE
RE0PENS ITS HEARINGS;
4 CITIES PRESENT DAFT

The reserve bank organization com
mittee. to which Atlanta has present
ed its powerful and comprehensive
argument for the location Of a bank
in Atlanta. continued its hearing in
the United States District Court room
in the Federal Building Saturday at
10 a. m.
Delegations OF bankers and bust
ness men from Chattanooga. Birming-
ham, Columbia and Savannah were
present to offer their arguments for
the location OF the regional bank in
their respective cities.
The courtroom was crowded with
representatives of the four cities. At
lantas commercial and financial rep
\ resentatives were present to hear
what the other places had to say for
themselves.
- Oratory Is Banned.
Secretary of the Treasury William
G. McAdco Secretary of Agriculture
David r. Houston and Comptroller o.
the Currency Jcnn shelton Williams
closely followed what each speaker
said. The claimants for a regiona
bark again were requested to hold
themselves to facts and attempt no
oratory
Chattanooga hearing, started FIJI
day evening, was concluded the first
10
able that the hearing will be COM
pleted early Saturday afternoon. Co
lumbia probably will follow Chatta-
nooga. then will come Birmingham
and finally Savannah.
Speakers Conned to Facts.
Secretary McAdoo held every
speaker down to facts. He constant
ly interrupted those who appeared be-
fore the committee such remarks as
81 don't believe we care to hear any
more on that point" please leave
that matter to our discretion, as 1t is
purely an inference"
Secretary McAdoo. Secretary Hous-
ton and Comptroller William often
stopped the speakers for Atlanta with
shrewd, close questions on given
points.
J. X Orr. rst speaker for Atlanta,
outlined the region Atlanta best could
serve with a regional bank as in
Guiding North and South Carolina.
Georgia, Alabama, Tennessee, Missis
sippi and Florida.
Mr.. Orr pointed out that Atlanta
has several million dollar banks, that
the territory named tends toward
Atlanta through the natural channels
of trade, that teh crops, commerce,
population and finances represented in
the district constitute one-ninth Of
the crops, commerce. population and
finances Of the entire country.
Moore Presents Statistics.
This is one big reason why we
feel we are entitled to one of these
nine or twelve banks in Atlanta"
concluded Mr.. Orr.
Wilmer L. Moore, former president
os the Chamber of Commerce. fol-
lowed Mr.. Orr. showing in detail and
with a wealth of statistics how the
territory named to be served by At
lanta is geographically and CONNER
cially well balanced as compared with
the other parts Of the country
Mr.. Moore showed that in the last
five years more than. half the mer-
chants in the territory have sent the
bulk of their business to Atlanta He
touched specifically on the volume OF
bank clearings here, on telegraphic
and telephone business, but more
particularly upon the sequence of
crops in the region, showing that II
produces in the market a crop of
enormous value once every month the
year round
Business Increase Nominal.
One of J. X. Ottley's strongest ar
guments to the committee was the
compactness of the Atlanta region,
the similarity of business methods
throughout this Southeastern terri
tory, the fact that the $725,00O, 600 OF
bank clearings in the district repre-
sents a doubling thereof of twelve
times since 1898. putting Atlanta in
the lead over any other city in the
South
Specific data presented by Mr. OFT
ley proved to the committee that the
increased bank clearings have been
brought about by normal increase of
business.
Robert +. Maddox, who followed
Mr. Ottley, offered the committee
statistics showing the capital. sur
plus, reserves and resources of the
Atlanta banks. He pointed out that
practically every eligible bank in the
district has signified its intention of
joining the national banking associa -
don. and that there are ample funds
at the disposal of the banks with
which 10 finance their share of the
capital of the national association.
Banking Conditions Sound.
Mr. Maddox admitted that at pres
Nnt there is a time Of the year when
cotton II moving. that Atlanta is a
heavy borrower, but he pointed out
that this condition will be eliminated
when the national association is IN
operation, because the millions held
in reserve by Atlanta banks, in New
York and ST Louis, and Nthe millions
that State banks loan to persons out
side Of the Atlanta territory then
will be held in Atlanta at the dis
DOsal Of the CrOp- movers