The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-10-01
Richmond Man Also Vice.
Chairman and Agent of
Fifth District.
INGLE, OF BALTIM0RE,
APPOINTED CHAIRMAN
M. F. H. Gouverneur, of Will
rnington, N. C., Third in Class
c, Completing List.
no GOVERN LOCAL INSTITUTION
Designations Announced by Federal
Board Are Received in Financial
Circles Here With Approval.


William Ingle. Of Baltimore. James
A. Moncurc, Of this city, and VI. +. IL.
Gouverneur. of Wilmington. y. C.. were
named yesterday by the Federal Re
,arve Board as the Glass G directors
OF the Fifth District Reserve Bank.
which will be established in Richmond.
The appointments complete the dtrec-
torate of nine that will govern tho local
institution, and the establishment OF
tho bank within the next two or three
weeks 's regarded az assured.
OF tho three Class G directors ap-
pointed yesterday. Mr.. Ingle IL desig-
mated chairman of the board OF direc-
tors and Federal reserve agent. Mr.
Moncure Ia named vice-chairman Of the
board and deputy Federal reserve
agent Mr. Gouverneur takes Offices
simply as one OF the nine directors.
APPOINTMENT AS AGENT
RECEIVED WITH APPROVAL
The appointment OF Mr. Moncur.
gives Richmond TWO members on tho
boaru The other member lis George
Z. Scuy. \ Glass = director elected bS'
tho banks Of tho district with two
other Glass II, and three other Ciase 4
directors, several months ago. His dc.-
irnation vice chairman o. tn:
board and deputy Federal reserve agent
was received with approval IN local
t.. ..rkiilS EifHlsS.
Mr. Mpncurc Was born IN Stafford
county about hfty-three years ago. and
received his education In TN. schools
" ihat county and or Frcdcricksb burg
iie moved to Richmond early IN his ca :
rcct. cuEagin. ia mercantile pursuits
pniii about httccn years ago. when he
h%ctin" associated with the richmond
iGapo Company. of which concern he
+ secretary and treasurer.
IL Richmond ana Virginia busincss
circles MIR. Moucure IL widely known.
~. IS vice president Of the Richmond
structural Steel Company. Inc. and sec
r.t.ry-treasurcr OF the Ncna5ie Ferti-
liz.r Company ard Powhatan Chernica
Company. He Is a former member OF
the i;oard OF Aldermen from old Monroe
Murd
DNI.TIMoRE HAS TWO
REPRESENTATIVES, on BOARD
r,.c appointment Of Ar. Inclc 10 the
,.apor,ant position OF chairman Of the
l."ird and Fcdcrai reserve agent il
,akcn 10 mean that Ealtlmorc's pro-
tcst against the establishment ~ :he
rctsrve bank III luchmoud has not been
"a ken seriously. With Mr. lusi,. Bal
tiinore will have TWO representatives
IN tie b,ar! o. dircctors-one OF them
thc chairman. The other Baltimore
member is Waldo Newcomer 1t was
pointed out yesterday that the assign
mcnt or this prominence 10 baltimore
assures 2 desirable balance in the
hoard of directors. and the Judgment
-. the Federal Reserve Board was
widely commended.
Mr. Ingic is vice president Of the
Merchants Mechanics Bank OF Bal
t,more. aud is banker OF recog :
rizcd ability. lie is . native OF the
Maryland metropolis. IN 1851 he en-
tcrcd tho Merchants and Mechanics
Bank as Il messenger. from which posi-
tion he rose TO the vice presidency
Mr.. Gouverneur. the third OF the
class G directors. while nc has never
held public Office, Is we'll known in
North Carolina az a member Of the
Of Wilmington. y .. lie is Il great
grandson OF President Monroe.
RESERVE BOARD GIVES
CAREFUL CONSIDERATIONS
In announcing It's selections for di
ioctors of Glass &, the Federal Reserve
BOARD stated that 1t had made the ut
most effort 10 weigh and compare the
merits OF all the names presented TO
il for consideration. and had looked
into the qualifications Of all that were
suitable
80 far as was reasonably possibcl."
the board stated. geographical consid-
crations have been taken into account.
in order that different portions of each
district might be represented on the
board Of directors"
simultaneously with the Class c di-
rectors of the Fifth District. of which
J;ichmond is inc seat. the Federal Re-
serve Board announced the Class G.
appointees for the reserve banks to
he established at Boston. New York, ST
Louis and Minneapolis. 1t is under
stood that the boards of directors of
All the reserve banks will he Instruct ed
by tho Federal Reserve Board within
the next day or two To meet for the
purpose OF organization.
Tile board of directors which will
manage the Fifth District bank, to be
established in Richmond. rendered COM
plete by yesterdays appointments, is
composed as follows:
William Inglc. Baltimore, chairman
and Federal reserve agent
James \. Moncur2. Richmond. vice
chairman ana deputy Federal reserve
agent.
NJ. L. II. Gouverncur. Wilmington,
y. g.
Waldo Newcomer. Baltimore.
Colonel John J.. Bruton, Wilson, y. g.
Edwin Mann, IIlueficld. w. Va
George j. Seay, Richmond
ID. r. Coker. IIartsvillc. $. {.
J. T.. oyster. Washington, u. 4,
INGi.E WILL MAINTAIN
OFFICE IN RICHMOND
In accordance with the provisions Of
the reserve act, the Federal reserve
agent, Mr.. Inglc. will maintain a per-
nancnt Office in Richmond on the
promises Of the reserve bank. lie is
designated AZ the official representa-
tiyc of the Federal reserve BOARD for
tho performance OF the functions con-
fcrred upon him by the act. and is re-
nuired 10 repQrt regularly to the Re
serve Board.
Directors Of Federal reserve banks"
the act provides. Shall receive. In adj
dition 10 any compensation otherwise
provided. Il reasonable allowance for
necessary expenses III attending meet
inSs Of their respective boards which
amount shall be paid hy the Federal
reserve banks Any compensation that
may he provided by boards of directors
Z