Semi-weekly herald., 1914-04-06
DENVER FAILS TO
GET RESERVE BANK

WASHINGTON, ID. c., April s.
The first decisive step toward es-
Publishing the new currency system
was taken last night when the new
regional bank cities, which have been
under consideration by the reserve
oank organization for nearly three
months, were announced. The Uni
ted States is to be divided into twelve
banking districts, and federal re-
serve bank is to be located in a city
in each district.
Considerable criticism is heard
over the division, especially because
Missouri has two banks, Kansas City
and st. Louis. The charge is being
made that Denver has been discrim-
mated against in being put under
Kansas City.
The districts and cities as selected
by the committee follow:
District | includes all of the New
England states. The bank will be To-
Gated in Boston. Capital S9,93l, ,740.
Four hundred and forty-six national
banks are members.
District 2, New York state. The
bank will be in New York city, capi-
tai S20,6S7, GIG, with l7s members.
District 3 includes New Jersey,
Delaware and western Pennsylvania.
Philadelphia will be the regional bank
city, capital S12,99S,OOO The bank
will have 500 national banks as mem
bers.
District 4 has for its territory
Ohio, eastern Pennsylvania, eastern
Kentucky and northwestern West
Virginia. The bank will be located in
Cleveland. The capital is $ll, ,62i,-
536 with 734 banks as members.
District includes Maryland, Vir-
ginia, North Carolina, South Caro-
lima, the portion of West Virginia
not included in district and the
District of Columbia. Richmond is
the regional city. The banks capital
is $6,543,2S1. Four hundred and
seventy-five banks are members.
District % IL made up of Alabama,
Georgia, Florida, eastern Tennessee,
southern Mississippi and southeastern
Louisiana. The bank is located in
Atlanta. The capital is $4,702, ,780
with 1927 national banks as members.
District z includes Iowa, southern
Wisconsin, southern Michigan, north
crn Illinois and northern Indiana.
The bank is to be located in Chicago.
Nine hundred and eighty-four nation
al banks are members. Capital, $13,-
15l 1926.
District s comprises Arkansas,
eastern Missouri, southern Illinois,
southern Indiana and the portions of
Tennessee and Mississippi not in dis
trict 9, and all of Kentucky not in.
cluded in district A. The regional bank
city is st. Louis. The banks capital
is $6,2l9,323 with membership of
'
43l banks.
District 8 includes in its territory,
Montana, North Dakota, South Da-
kota, Minnesota and the portion of
Michigan and Wisconsin not in dis
trict Z. The bank is located in Min
neapolis with capital of s4,702,s64,
with membership of 6S7.
The territory Of district 10 COM
prises Kansas, Nebraska, Colorado,
Wyoming and all of Missouri not in
district 8, northern Oklahoma and
northern New Mexico. Kansas City
is designated as the regional bank
city. The capital of the bank is $5,-
594,916 with 935 national banks as
members.
District IL includes Texas, those
portions Of New Mexico and Okla
homa not included in district 10, that
part Of Louisiana not included in dis
trict 9, and Santa Cruise, Cochise,
Graham, Prima and Grcenlee counties
in Arizona. The bank is to be located
in Dalles, with a capital of 1884,
091, with 726 bank members.
District IL includes California,
Washington, Oregon, Idaho, Nevada,
Utah and the remainder of Arizona
not included in district IL. The bank
is to be located in San Francisco. The
capital is $S,l15,524 with old mem
bers.
Within thirty days the banks must
begin subscribing the regional banks
stock. The president will announce
the reserve board soon.