The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1917-11-28
RESERVE
BANK FOR
THIS CITY
Branch of Chicago In
stitutiOn To BE Es-
tablished Here

announcement mat The board or
tho Seventh district Federal Re
serve bank had decided 20 establish
"A branch in Detroit was sprung as
a surprise az the twentieth annual
meeting and banquet OF the Bank
ers' club OF Detroit. in Hotel statler.
Tuesday night tmory w Clark
president OF the First and Old DO
troit National bank. received the in
formation from William A. Heath.
reserve agent and chairman OF the
Federal Reserve bank. Chicago. over
the long distance telephone during
the afternoon.
Establishment OF the branch here
greatly strengthens Detruirs posi-
ton financially and means mu IN 70
the future growth and development
" The city, bankers say II simpli
hes the redlscounting oi CONNER
cial paper obyiating the delay Incl
dent 10 sending II 20 Chicago and
waiting for the money 10 come back
This viii be the first branch bank
IN the Seventh district The rext
step viii be the selection OF the OH
GERS and directors Under the rules
there must be board OF Ave, we
of whom acts rs manager OF the
bank n has been the custom 10 ap-
point on this board three bankers
md two business men. who may or
may not De bank directors The ac-
tive officers are the manager and
the cashier.
The application for the establish
meut OF a branch in Detroit was
made BY the Detroit Clearing House
association To strengthen Detroit's
position and give The application
more force. every state bank In
the association applied for admits
sion 10 the federal system The
Peoples State bank and the Wayne
County and Home Savings bank. the
two largest Of their class IN the
state. already are enrolled
The committee representing the
Clearing House association ia the
negotiations comprised James r.
Kenna, president Of the Peoples
State; Emory Vs. Clark. president
OF The First and old Detroit Nation
al. and John Ballantyue. president
OF the Merchants National
Dr. Frank w Gunsaulus. presi-
dent OF the Armour Institute OF
Technology. Chicago. was the chief
speaker al the banquet The war
was his theme Drawing verbal
picture or the crucifx,on and refer
ring 20 the nailed hands as Belgium
and Armenia, and the bleeding legs
rs Serbia and Poland ne exclaimed
Shall be permit an international
lunatic, who failed IN craftsmanship
when a halfwitted boy fred n shot
three years ago, 70 shoot into the
heart OF America with krupp guns
and poisoned gases
America danger. he said r. that
she may net realize the euhlimi'v OF
the things for which She Is fghrn
when the flag comes back" l,
said. Eve want 10 see. as Charlo
Sumner did that the red IL yaloi.
the white purity and the blue iu
tlcc"
John " staley. vice-presiden'
No Peoples State bank, who retire.
az secretary treasurer OF tho eli.
Tuesday night after holding ~,
Office tor nine years was presented
with q silver flower basket
The following officers wer,
elected
Charles G jerks. president OF III
Security Trust company the Jenk
& Muir Manufacturing company. any
the United states Radiator corpoi
ton. president, Ralph Stone. pre-.
dent ~ the Detroit Trust compan,
vlce-presldent. and Charles ~
Ayers. assistant cashier OF the Poo.
pies state bank, secretary and treas
urer.
The executive committee Is made
up OF the three officers and Jane
r. Kenna, president of the People
State bank, and John Ballantync.
president OF the Merchants National
bank
The following new members were
added 20 the roll.
r G. Iambrecht. Gustav Dietrich
and Daniel Kelly. president. treas.
urer and secretary, respectively, OF
the American Loan q Trust com
pany; II T.. Chittenden. manager Of
credits, Peninsular State bank. y
II Manning real estate officer.
Union Trust company; hobart y
IIoyt vice president, Union Trust
company: Joel H. Prescott and
Charles ~ Crosman. assistant trust
officers. Union Trust company: q
II. Moore. manager bond depart
ment. Union Trust company. 7. @
McCreery. yicepresident and cash
Ter. Highland Park State bank oi
Detroit. &. L. Mclaughlin. Fred T.
Gregory and H. Kalmbach, cashier.
director and vice president. respec
lively, of Dearborn State bank
Dearborn John & Nesbitt. cashier.
Union city National bank, Union