The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-10-13
Directors Chamber of Com
merce Held Meeting on
the Proposition.
SENT WIRE TO
SECRETARY McADoo
Endorsement of Montgom-
cry is Withdrawn and
Prospects Look Good.

Pensacola as the site for the dis
trict federal farm loan bank, is being
urged on the farm loan board, of
which William G.. McAdoo is chair
man, and the following telegram was
sent to Secretary McAdoo last night:
Eve hereby request that the fed
eral farm loan bank for this district
be located in Pensacola. We.cordially
invite your board to visit Pensacola
on its southern trip. Yoe,rcan leave
Birmingham night of October IS in
through sleeper, arriving Pensacola
early morning Goth and leave either
that night by through sleeper or at
noon next day.
PENSACOLA C. OF c."
The plan for bringing Pensacola's
claim before the board was the object
of special meeting of the board of
directors of the Chamber Of Com
nerce yesterday, at which many Of
the prominent business men of the
city were present.
The question received much discus
sion at the meeting, and it was finally
decided to ask the board to consider
this city, while on the trip south.
The former action of the board is en-
dorsing Montgomery as the site for
the bank was rcsetsiec az informa-
ton was brought to light Thursday
morning which, it is claimed, indi-
Gated that Pensacola had an excellent
opportunity of securing the bank.
Additional weight was given the
discussion yesterday by the fact that
Jacksonville had become generally
considered as being too far in one
corner of the district, to afford easy
access to all ports. With this belief
the board decided to try to induce the
farm loan board to place the bank in
Pensacola.
Committee Appointed.
4. Although there is little time for
collecting data the board decided to
leave nothing undone to make as COM
plete showing of Pensacola's advan-
tages as possible, and to this end
committee composed Of the following
members was appointed e. R. Ma
lone, T. A. Jennings, H. H. Thornton,
c. E. Dobson, j. B. Perkins, r. w.
Goodhart, j. f. Davis Yonge, w. A.
Blount, w. c. Barrineau, j. S. Reese
and j. d. C. Newton.
/ The duty of this committee consists
/ in collecting all the available infor-
nation concerning Pensacola and Es-
! Gambia county, in their relation geo
graphically and financially, to the re-
mainder of the district. The geo.
graphical situation is OF first impor-
tance, as it is considered absolutely
essential that the bank for the dis
trict be located as centrally. other con-
ditions being equal, as possible.
Capital at $4,000.
The bank at the start win probably
be capitalized at $750,000, and its
chief business is in rediscounting
/ loans of the farm loan association.
The board which has been invited to
/ visit Pensacola is composed of the fol-
lowing: Secretary OF the Treasury
/ w. G. McAdoo, George w. Norris,
/ Herbert Quick, w. S. A. Smith and
/ Charles e. Lobdell
/ It is planned to have the farm loans
banks ready for business by January
1, 1917, and the importance to the
state is stressed by Senator Fletcher,
who places the farm loan act over all
other legislation, in the general de-
i velopment of the agricultural re-
sources of the nation.