Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-04-30
PRESIDENT NAMES
-FOUR DIRECTORS
FOR CORPORATION
War Finance Body, Govern
ment-C Controlled, to Uphold
Industry of Nation.
|iS PRIVILEGED TO ISSUE
THREE BILLIONS OF BONDS
John Shelton Williams Made
I Member of New Capital Is
( sues Committee.
AGAIN HONORED
Two Organizations Will BE OF Vast
\ Benefit in Maintain Busi-
ness Of Country.
.lcHMoNDER AGAIN noNoRED
Two Organizations Will BE OF Vast
Benefit In Maintain Busi-
ness Of Country.
tBy Associated Press J

WASHINGTON. April 2a.Tltc trs'
tstep in the organization Of the $780,
100000 government war finance cor
IDoration. tho biggest institution of the
Kind ever created. was taken to-daT
! when President Wilson nominated fon'
directors. who. with Secrctar? Mc-
lhdoo. will conduct the work Of aidini;
Yin financing essential war enterprises.
N Az soon the directors arc CON
|sirmed by tho Senate, they viii cs-
tabiish the corporation on an operat-
ling basis. and indications arc that -
/ iSlll be ready to make loans within
1.-TWO or three weeks. y number nf
Informal applications for advances al
Ircady on file.
| AZ the same time, the President
mol minated seven members ot the new
capital issues committee which "ili
replace the Federal reserve boards
capital issues committee. in exercising
n voluntary regulation OF sccurit!cs
Issues OF more than 100000.
The finance corporation dIrcct"rs
dominated by the President arc W. =.
{G. Harding. governor OF the fcdcrL!
reserve board; Allen Il Forbes New
York. private banker and securities
dealer. member OF tho present capital
issues committees advisory subcom-
.mittce: Eugene Meyer. Jr.. New York,
banker and business man, member 81
the national war savings COMMITTEES,
land connected with the waC industries
board; and Angus W. Mclean. banker
and lawyer. OF Wilmington, y. c.
5JoHN SHELTON WILLIAMS
NAMED on COMMITTEE
Df Nil
Icommlttcc were named as follows;
Charles S. Ilamlin. member OF the Fed
fcral reserve board. former Assistant
Secretary OF the Treasury; John SkeI-
3ton Williams. Comptroller OF the Cur
Irency. and director Of finance and puT-
|chascs of the railroad administrator;
Frederic y. DclaEd, member of the
Federal reserve board; Henry (. Flow
|er. Kansas City. banker; Frederick il.
!tioT. Cleveland. banker; James y.
brown. banker, OF louisville, Ky and
j ohm s. Drum san Francisco. banker
9nd lawyer.
Mr. uamlin and Mr. Dcland arc mem
Fbers OF the present capital issues ocm-
|mittec, and Mr.. Flower and Mr.. Gou
|;grc members oc the advisory subcom-
|,nittec. Paul Nj. Warburs. now mem.
per OF tHC cdDltdl issues CDIllIIl Iittt
was not given place on the new
lbody. so that his time may be free 10
Imanasc affairs OF the Federal reserve
board. much OF whose work VIII fall
4on hm as' sice-govcrnor because OF
3Governor TiardinS's appointment on the
|war finance corporation. All the
Somina tions were referred by the Sem
,tc ~ executive session 10 the Finance
Committee. which is expected to take
ction Within Il few days.
Most IMPORTANT MOVE
SINCE RESERVE SYSTEM
The organization of the big cor
Pporation. with a half billion dollars
|capitsl, furnished b. the government.
land with authority TO issue $1,000
100000 of bonds, is considered the
1most important development i'll the
financial history OF the country since
Bthc formation OF the Federal reserve
hoard n few years ago. 1t will estab-
|lish virtually pool of the nations
resources, TO he drawn
upon to maintain war industries and
businesses.
!! on the capital issues committee. Mr..
WILLIAMS will represent the interests
1of railroads. whose securities ordin-
|erily form Il large proportion Of the
securities noatcd annually. In addi-
banking system in his capacity as