Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-05-04
.bALT|MORE's PETITION
MAY Be DECIDED TO-DAY
Dispute as to Location Of
Reserve Bank.
NO CHANGE SEEMS PROBABLE
Maryland City, i'm Fight Against
Richmond, Probably Will Succeed
in Being Given Branch Institution.
All Contests Quickly to BE Settled.
Especial to The Times Dispatch. !

Especial to The Times Dispatch.l
WASHINGTON. May 3.-whether or
not the Fifth District Regional Bank
Will remain at Richmond or be re-
moved to Baltimore will be formally
decided by the Federal Reserve Board
at its session tomorrow or Wednes-
day. This announcement was made
this afternoon, after the board at its
session to-day determined to settle
without further delay all appeals from
the action of the organization commit
tee in locating the reserve bank, and
fixing the boundary lines OF the re-
serve bank districts. By the end OF
the week members OF the board hope
TO dispose of all contests.
The Reserve Board, for the first time
since It concluded hearings In the con-
test cases. had before 1t for informal
consideration the appeals by Baltimore
and Northern New Jersey from the de-
cision OF the organization committee.
Reports OF the subcommittees. to which
each OF these contests was referred.
were formally filed, but no action was
taken on them. Plans. however. were
made to take formal vote tomorrow
New Jersey cases, although 1t was de-
clared this afternoon that the board
as whole has not formally discussed
the merits of the Baltimore petition
asking that the Fifth District Bank be
moved to that city.
No member of the Federal Reserve
Board would indicate to-day as to the
probable decision In the Baltimore con-
test case. Their silence is taken as in
dicating the organization committee
Will be upheld all down the line. Mem
bers OF the board, when asked as to
the probable action, declared that no
vote had been taken, and they did not
know what would be done.
FORCED SOME TIME AGO
TO POSTPONE ACTION
The board had prepared finally to
decide the Baltimore Richmond case
last April. but it was forced to post
pone action on account of the sudden
illness of Secretary Of the Treasury
McAdoo and Governor Charles s. Ham
lin. The subcommittee, 1t is learned
to-day. was ready to make its report
at that time, SO that a decision could
be reached.
When W. p. G. Harding, a member
OF the board. made plans to make an
extended trip through the South to
visit the reserve banks and reserve
cities. members of the board decided
to settle the contests without more de-
lay. and. accordingly, they were made
special order for this week. Gov
ernor Hamlin returned to-day from
five-week trip through the West, and
Secretary OF the Treasury McAdoo Is
the only member who Is now absent.
1t was said to-day that 1t is not certain
that Mr.. McAdoo will attend the meet
ing at which the vote will be taken on
the Baltimore appeal. His appearance
at the Treasury Department Is now ex-
pected at any day.
From unofficial sources. 1t is learned
that Baltimore has some sympathlzers
on the board, but 1t is not believed they
are strong enough to bring about A
decision favorable to that city in the
fight for the regional bank. Friends
of Richmond. and especially members
OF the organization committee, are
anxious to be upheld by an unanimous
vote of the board.
Reports persist that, in the event Bal
timore is turned down by the Federal
Reserve Board. that city will be given
a branch bank to take care of it's bank
Ing business. These reports are
strongest in board circles, and the be-
lief is persistent that the fight Balti-
more launched to upset the organiza-
ton committees decision In locating
the Reserve Bank at Richmond will
ultimately result In that way. The
branch bank to be given Baltimore will
be controlled by Baltimore bankers on
Its board of directors.