Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1915-05-05
OMAHA REMAINS
IN K. c. DISTRICT
Federal Reserve Board Denies Re-
quest of Bankers for Transfer
to Chicago Territory.
DECISION MAY NOT BE FINAL

(From a Staff Correspondent.)
WASHINGTON, May 4.-(Special
Telegram. For a time at least Ne
braska and Wyoming banks, mem
bers of the tenth regional federal re-
serve district, located in Kansas City,
will continue in that district, accord
ing to a resolution passed by the
Federal Reserve board today denying
the application of said member banks
In Nebraska and Wyoming to be
transferred to the seventh, or Chr
cago; district.
Chairman Hamlin Of the Federal Re-
serve board. when asked for the reason
that prompted the denial Of the member
banks in Nebraska and Wyoming 70 be
transferred. very frankly stated that his
mouth was closed because the board at
it's formal meeting this morning had DE-
cided to withhold comments on any Of
| its actions, its decision being it's own
comment.
May Not BE Final.
! Mr.. Hamlin said, however, that the
denial of the application of m"mod
banks in Nebraska and Wyoming to be
placed in the Chicago district was not
necessarily final.
! 'If the board should find that the
member banks in the states referred to
are not doing the business to which they
are entitled, or other conditions arise
that will show to the board that the re-
ilstionship to Kansas City is not working
out as we believe it will, then l feel sure
the board will remedy the conditions.
The Federal Reserve board has power
at any time to change its findings OF
its decisions. 1t has the power of review
land will use the power to bring aboui
friendly and intimate relations between
the districts and the memOer banks.
To Omaha In Month.
'It was unfortunate that could not
visit Omaha on my recent trip through
the southwest, but 1 have promised my
self visit to Omaha within a month
and | hope that one or two of my col
leagues on the board will go with me
to the metropolis OF a state in which We
entertain most friendly interest"
II will be recalled that a COMMITTEES
of bankers of Nebraska and Wyoming
consisting Of the late Henry w. Yates
president of the Nebraska National banH
OF Omaha; Fred II. Davis, of the FRS
National. and Luther Drake. president o
the Merchants National, were selected tC
present the reason why the bankers IN
Nebraska and Wyoming should be taker
out of district No. 10 ,(Kansas city, ant
annexed to federal reserve district No
Z (Chicago).
W. d. McHugh of Omaha was retained
| as counsel
why ChBuRe Was Asked.
The ground and reason for the transfer
asked by the member banks of Nebraska
and Wyoming to be elassed with Chi
cago and taken out of the Kansas CITY
! district is set forth I'm the petition Of Y
. national banks Of Nebraska and thirty
! two national banks of Wyoming.
5 The customary course of busines
participated in by Nebraska and Wyom
2 ing is almost entirely east and west an
) but a small portion thereof pursues
6 north and south course. The business o
0 Nebraska and Wyoming centers yer
largely in Chicago. while the business be
tween Kansas City and this territor
. (Nebraska and Wyoming) is OF small i'm
I pOrtance
3 This was the crux OF the contention.