New-York tribune., 1918-07-15
Chairman Hamlin Replaces
Temporary Committees
Serving Since February
Broad Representations
F federal Board Chairman in
Each District Will Be
Committee Head
Especial Dispatch to The Tribune)


organization of district committees or
capital issues in each Of the twelve Fed
eral Reserve districts was announced
to-day by Charles S. Hamlin, chairman
CT the Capital Issues Committee. This
organization replaces the temporary
committees that have been serving since
February.
Each of the new district committees
IS composed of fifteen or more bankers
and business men of the district. Ap-
polntments have been made, Chairman
Hamlin said, with a view to obtaining
the widest possible representation, both
geographically and with respect to the
many interests concerned. The chair
man of the Federal Reserve Board in
each district will act as chairman of
the committee and the governor of the
Federal Reserve Bank will act as vice
chairman.
An executive committee of not more
than seven members of the district com
mlttee residing within reach of the
Federal Reserve Bank will meet regu-
larly to consider applications referred d
TO 1T by the Capital Issues Committee
in Washington.
Chairman Hamlin, reviewing the
work of the Capital Issues Committee.
SAID that there had been very wide
range of applications, the applicants
coming from every field of industry, as
we'll as from public utilities and mu-
nlclpal interests. Every section of the
country is listed among the applica-
tlons' received
Hundreds of Applications
"Since the Capital Issues Committee
was reorganized, in May, in conformity
with the act Of Congress creating it,"
Chairman Hamlin said, "hundreds Of
applications from both public and pri-
vate corporations have been acted
upon. With the help of the old dis
tr!ct committees the issuance and
sale of millions of dollars of securities
ior purposes regarded as not contrbut-
ing to the prosecution Of the war have
been postponed for the period of the
war
tissues which meet a real military
Or economic necessity have been en-
couraged The effectiveness of the war
programme depends, not only upon the
nations military strength, but upon a
SOUND economic readjustment on a
basls or war business frst--a readjust-
ment that will release workers and raw
materials for war industries by cur
failing unessential operations.
The object Of the CAPITAL Issues
Committee in passing upon all issues
OF new securities to determine their
compatibility with the national inter
est is to secure the postponement. un-
til after the war, of the use of capital.
materials and labor, in order to give
the right OF way to the governments
financial requirements and to the pro-
duction of war necessities.
Ihe district committees, whose ap-
continents are announced, will here
after act definitely upon all applca-
tions to issue securities amounting to
100000 or less, and, in advisory CA
pacity, to the main committee at Wash
lngton IN the matter of applications in
volvlng larger amounts. The Capital
Issues Committee also has the benefit
OF the advice of all other departments
and branches of the government in
Guiding the food, fuel and railway ad
minYstrations, the War Industries Board
and other agencies having knowledge
OF the requirements of essential war
industries"
New York District Committee
The district committee in Federal
Reserve District No. 2, the New York
district, follows:
Pierre Jay, chairman Federal Re-
serve Agt., Federal Reserve District
No. 2, New York City; Benjamin
Strong, vice. chairman, governor Fed
eral Reserve Bank, New York CITY;
Frederick Strauss. vice-chairman, J. &
W. Seligman & Co.. William Street,
New York City; Franklin @. Brown,
Redmond Co., 35 Pine Street. New
York City; John r. Moron, president
atlas Portland Cement Company, 20
A. Stone, president American Interna-
tional Corporation, 12O Broadway, New
treasurer United States Sub -Treasurv s as ,,'N1 =
New York City; S. Reading Bertron'
Bertron, Griscom & Co., 40 Wall Street,
New York City; Harry Bronner, chair
man finance committee, Missouri Pa
clhc Railway Company and director
Bethlehem Steel Corporation, Nassau
Street. New York City; Newcomb Carl
ton, president Western Union Tec-
York City; Walter ?, Cooke, Kenefick,
Cooke. Mitchell & Hass. 1880 Marine
Bank Building, Buffalo; George B. Cor
telyou. president Consolidated Gas
Company. 1870 East Fifteenth Street.
New York City; Allen 3. Forbes. Har,
ris, Forbes & Co.. 56 William Street.
New York City; W. T. Graham. presi
dent Goldschmidt DEFINING Company,
5ol Fifth Avenue. New York Citv;
George q: Hardy, Hodenpyle, Hardy &
Co.. "a Wall Street. New York Citv:
Alvin ". Krech, president Equitable
Trust Company, 81 Wall Street. Nav
York City; Thomas w. Lamont, J. P.
Morgan e. Co. 90 Wall Street. New
York City; E. G. Merrill, president
Union Trust Company so Broadway,
New York City; f. H. Outerbridge
president Chamber of Commerce. state
OF New York, II Broadway, New Yorl
City; Charles Y. Rich. executive man
ager National City Bank. So Wall
street, New York City; Walter T. Ro-
sen, Ladenburg, Thalmarn & Co.. %
broad f1 street, New York City; Charles
n n. Saoin president Guaranty Trust
CC:onlpany' 1A0 Broadway, New York
CITY. W. l.. Saunders, chairman board
of directors Jngersoll- Rand Connan,,
~ broadway. New York City: Artbnr
Slnclair, .lr., Estabrook & Co.. "A Broad
Street. New York City; Henry r
Iowne. chairman board of directors
Yale q Jowne Manufacturing Com
pany. II broadway, New York Cit,'.
James n. Wallace. president Central
Union Trust Company, 54 Wall Streat
New York City; Albert II. Wirein
president Chase National Bank 57
broadway, Now York City.
Settlement to Give Concerts
The University Settlement at 1st
Eldridge Street, has announced q sor;os
of