The sun., 1918-07-15
DISTRICT BODIES TO
FIX CAPITAL ISSUES
Decisions on Fl0tati0ns Of
Less Than 100000 Are
to Be Final.
OLD BOARDS ADVISORY
Appointees Are Named in New
York, Boston and Phil
adclphia.
OLD BOARDS ADVISORY
Special DespafcA to TIE sux.

.., o...,,.A q. ar~
WAsHiNs'"S' JUL A"N""o""ee
ment OF the appointment OF the district
commissions on capital issues for the
v,1 po..on .rA ph,,.a.,ch,.
NC"
Federal reserve distr,c's was mace ny
Chairman Charles 9. Hamlin OF the
c,,,,al Issues. Committee to-day.
The district commissions are 70 nave
:, sioo 600 or less and the verdict viii
~. anal They superseded the disA r,ct
Committee appointed by the Temporary
,s,ues organization of the Federal Re-
ssrve Hoard which was built up to
meet the war situation in regard to
can,tal requirements while Congress
was considering the War Finance Cor
noration act The old committees were
merely advisory.
The temporary committees only could
use suasion in suppressinR any capital
issues that were not deemed essential
ia meet war or economic needs. but the
new committees are backed by law.
Each of the new committees In conn
nosed of fifteen or more bankers and
business men OF the district in which
they are appointed. The chairman of
the Federal Reserve Board IN each dis
trict will act as chairman of the com.
ndttee and the Governor of the Federal
reserve bank will act as yice-chairman.
An executive committee Of not more
than seven members of the district
committee residing within reach of the
reserve bank will meet regularly 10
consider applications referred to IL by
the Capital Issues Committee in Wash
ington.
Wide Range OF Applicants.
Chairman Hamlin rev,,v,n~ IN. vorr
NJ the Canital Issues Comm,tta. ala
there had been n vide range NJ . n,l,c..
lions. the applicants coming from every
S,eId NJ Industry n, ve,I as sro,, n,,hi,.
utilities and municipal Interests. Everv
section 81 the country q. li.t.d .mon.
ths ann,ication. recsiy.d 'e
"SInce the Canitai I..,e. ror,r,,,,..
Was reorpanized In Nav IN nonsn,,,,ty
With ,hs act ., Congrs.. cr..,,n. q, !.
ch,irm.n Han,,,n ,aid ..hund,.S. -,
annlica,,ons from hoth n,hiic ana wi
ysta cornoro,ton. 49,. 49, $500 -,
with ,hs h.In NJ ~. c,a d,.,~,c. .,,hn,,-.'
rittees The ,s.,. nre ond 81. =, ,,,,,,on.
a, dollars ~ .ecur,,,.. TO- n,,r,n... -
r,rded az No, con,,,h,,,,n~ 70 ~ n,o.s-
eution NJ The rar have h.sn nostnonsd
for the nrr,od of tha WA,
Issues vhich rnest . rs., allie. ~ =,
.conoric n.cs.,,,v h,y. -. s,.o,.-
AGED The efYec,ivers.. ~ ~. v,r nro.
granme depends not only upon the ma
nomic Reimbursement on a basis Of war
hnsinsss ars,-o ,dt,.,,,sn, ,h.. Iii,
e BUSINESS mrs Ieao.us.nen, .n.t VII
release workers ana raw materials Tor
war industries by curtaiiing unessential
0P ..r a.'o Ms;
nittee In passing upon all Issues OF new
securities to determine their compati-
s o,,I.y WI, %,th me national interes. 10 10
cause the postponement until after the
war of the uSe of capital. materials and
~ tho Coysrnr,.rt. S,.nc,,i 800. anJ
W t,'e n'e"' h'ane'ai "eeus anu
70 the production OF war necessities.
after act deinite,y upon ali application,
a., - ,.,' T. -. :, 80 onn
or less and In advisory capacity to the
mater of ann,ications inwoiv,nr Iarxsr
amounts. The Capital Issues Committee
also has the beneft Of the advice of all
other departments and branches of the
Government, including the food. fuel
and railway administrations. the war
Industries Board and other agencies
navins KnowIease o. tne requirements Oh
essential war INDUSTRIES.
York Boston and Phila delphIa are:
w. Well r.sw
new aork my
rassI, R sss cs1 pi.trIc. No. se'e asen''
R%G,iT Rs..S sts0 Rank Governor
IT,rrsl neses.e nanA, .s., a w
s4 iEnsTl's ( Co.. cotao''' ''o'en'"h' j. q "
r,,inn, Cor,o S"he, p'es''e"@ american iher'
Isrtin Sogci. assistant treasurer United
N'htrs Suh-TrehSury.
,r nrad nn nrr'rch Eer,ron, Gscom ,, 20.
Missouri, Pscinc ,,iiMsr comnany and dirrctor
Pc,hiehcm Steel Corpora ion.
Nrwcomb Carlton president Western Union
Telegraph Company
Gas Company,
Allen II. Forbes. Harris. Forbes 4 Co.
". T, Graham, president Goidschmidt De-
Timing Company.
George +. Hardy. Hodenpyie. Hardy 4 Co.
Alvin W. French. president Equitable Trust
Company.
Thomas W. Lamont. j. r. Morgan & Co.
L. t. Merrill, president Union Trust Com
r II. out.rbrtdre. president Chamber of
Ch.,ls. y p,eh III . ~ roI n.,.- ~.,,..,
CIV Rank -'
wsI,.r r Po.c, J,da,h,,r Tn.,m., l. r..
Charles n S.hIn nra.idsnt cn.rantn 49,;
Company.
lnrersoiI n.nd Comnsnr o~'u VI u"ee'"s
Arthur Slnclair II Est.hrook 4 r.
Henry r. Town., chairman board of directors
Yale & Towne Co
James u Wallace president Central I,nior
Trust Conpany.
Albert H. Virgin. president Chase N.tion.I
Walter r Cook. CooL. M,,.s.u 4 u
Buffalo. " Y.
Boston.