Evening star., 1915-06-08
FIFTH DISTRICT BANKS
JOIN COLLECTION SYSTEM
Three in Washington and Seventy
Nine in Other Cities Inaugurate
Check Clearance Plan.

Clearances of checks upon member ba nks
of the fifth federal reserve district which
have joined the collection system through
the Federal Reserve Bank at Richmond
were inauguratei yesterday. Three
Washington banks and seventy-nine other
banks in various parts of the fifth district
have united in the collection system.
The Washington institutions are the
Columbia. District of Franklin National
banks The associated banks i'll the col
lection system are:
Maryla Farmers Nation
al Bank; Baltimore. the Farmers and
Merchants. the First. the Merchants
Mechanics. the Old Town. the Second
and the Western National banks and the
Exchange Bank and the National Marine
Bank; Cumberland. the Third National
Bank: t'rostburg, the Citizens National
Bank; Hagerstown, the Peoples National
Bank: Hancock. the First National Bank
Oakland, the Garrett National Bank
Sykesville. the Sykesvile National Bank
Many Virginia Members.
OBSERVATION-DISCLOSURES. the Alexandria
National Bank: Broadway, the First Ma
tional Bank; Charlottesville, the National
Bank of Charlottesville: Fairfax, the Ma
tlonal Bank of Fairfax; Fredericksburg,
the Planters National Bank: Gate City
the First National Bank Leesburg, the
Peoples National Bank Luray, the Page
Valley National Bank Lynchburg, the
First. Lynchburg and Peoples National
Banks; Manassas. the National Bank of
Manassas Petersburg. the Virginia Ma
tional Bank: Richmond, the American,
Broadway. Central, First, Manchester.
Merchants and Planters National Banks
and the National State and City Bank;
Roanoke. the American and First Ma
tional Banks and the National Exchange
Bank: Warrenton, the Peoples National
Bank: Waynesboro, the First National
Bank
West Eirginia-Bluefield. the First Ma
tlonal Bank: Charleston, the Charleston
national Bank: st. Mary:s. the First Ma
tional Bank; West Union, the First Ma
tional Bank
North Carolina-Goldsboro. the Ma
tional Bank of Goldsboro; Greenyille,
the me Naf,onal ito Bank Of Greenville; Louis
ford. the First National Bank: Sails
bury, the First National Bank; States
vile. the Commercial National Bank:
nn11 " '1m1ington, y H1;2r the Murchison National
winston Salem. the Merchants and the
Peoples National Banks.
south Carolina-Aiken, the First Ma
tonal Bank: Anderson, the Citizens
National IA Bank: Bishopville, the First
National Bank: Charleston, the Ger
mania and the Peoples National Banks:
Columbia. the Palmetto. the PEOPLES
and the Union National Banks, and the
Nationa! Loan and Exchange Bank and
the National State Bank: Conway, the
Peopies National Bank: Greenvilie, the
Fourth National Bank; Laurens. the
i Enterprise National Bank: Lexington,
the National Bank of Newberry:
0rangeburg, the Edisto National Bank;
Rock Hill. the National Union Bank:
Spartanburg. the Central and the First
National Banks: Sumter. the CITY Na.
tional Bank and the National Bank of
Sumter: Walterboro, First National
Bank.
Extension Expected.
Inc coilectlon system, as 1T proves
It's usefulness. is expected to attract
other. II not all, banks of the dis
trict to membership and participation.
The member banks provide and main
tain funds in the federal reserve bank
necessary to pay checks upon them.
which may be sent to the federal re-
serve bank for collection by other
members of the system, so that the
reserve balances required to be kept
in the federal reserve bank shall re-
main unimpaired.
To adjust balances between the
banks. debtor banks are expected to
send to the federal reserve bank
checks on banks in the federal reserve
system In the federal reserve cities of
New York, Boston. Philadelphia CIeve-
land. Richmond. st. Louis, Chicago or
Atlanta.