Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-06-10
DESIGNATE TULSA.
AS RESERVE CITY
Enormous Liberty Bond Sale
Earns Us Recognition by
Government.
DEPOSITS TO COME HERE
Local Committee VIII Pass on
Securities Offered by
Oklahoma Banks.

Because Tulsa and Tulsa banks
have taken the initiative in the sale
of Liberty loan bonds and are lead
ing the entire state in this respect.
the federal reserve banking board
yesterday designated this city as a
reS we city.
Ills information was contained in
- following telegram received by the
Tulsa Clearing House association:
Washington, d. G.
Tulsa Clearing House association,
Tulsa, oklahoma
The Federal Reserve board today de,ig.
mated Tulsa, Oklahoma, as reserve city.
WILLIS, Secretary.
The above telegram completes "A
campaign OF untiring effort by the
banks of Tulsa for such recognition
on the part of the federal govern
ment. Up to the time of The Lib
erty loan campaign its attainment
seemed far off, but when the national
government learned that to date Tulsa
had bought more Liberty bonds than
all the rest of Oklahoma combined,
there was no delay on the part of the
treasury department. Those of Tulsa
who have purchased Liberty bonds
can take pride in this first reward Of
patriotism on the part of the citizen
ship OF this city.
Went to Kansas City.
a committee representing the Tulsa
Clearing House association went to
Kansas City Tuesday of this week
and presented report OF bond sales
to the federal reserve bank, and at
the same time asked that the city OF
Tulsa be named as a legal reserve
point. Governor Miller of the Kan
sas City federal reserve bank tele-
iraphed this report to Washington
and the above telegram shows the re-
suit Those on the committee who
achieved the appointment were C. w.
Benedict, G. n. Wright, T. j. Hart
man, f. w. Bryant and O. II. Leon
ard.
With this appointment Tulsa will
receive direct benefits by large
amount OF government Liberty loan
deposits. The federal government
proposes to mobilize the money re-
.cciVcd from the sale of Liberty loans
IN reserve cities These cities are the
Industrial ceuters Of the nation. This
money will be withdrawn by the go, =
ernment only as it is needed to pay
for supplies purchased. BY sucn a
method millions of the Liberty loan
tpllh VIII Dt Iell Ill COnlTnefcldt
circulation for the benefit of indus
tlies BY becoming reserve city
Tulsa will benefit directly from this
situation. In addition the city and
the whole of this part of Oklahoma
will benefit. for country banks in this
portion Of the state will now have an
opportunity to keep reserve funds
closer to home than formerly.
Bond Committee Named.
At the request of the reserve boar I
the local clearing house has named
n committee who will pass on security
bonds offered by banks that receive
federal government deposits from the
Liberty loan sale. Those on the COM
mittee are j. NJ. Berry, O. H. Leonard
and I. j. Hartman All federal oe-
posts must be secured. Heretofore
II has been necessary for banks in this
part of Oklahoma to take their securi-
ties to Kansas City for approval. The
committee named by the Tulsa clear
ing house and confirmed by the gov
crnment will act on such matters
hereafter
Local bankers find Just pride in the
naming Of Tulsa as reser.e city and
propose to show their appreciation by
continuing vigorously the sale OF
Liberty bonds in this community.