The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1919-11-03
Federal Reserve Board
Decides for Tulsa or
Oklahoma City.
WICHITA ELIMINATED
Too Close to Kansas City
and Kansas Town Is
Out of Contest.
ASKS FOR MORE DATA
Tulsa Bankers Optimistic
That Magic City Will
Win Out in Fight.

Establishment OF a federal reserve
bank at either Tulsa or oklahoma
city has been ordered by the federal
reserve board Mt Washington, and
the Kansas city reserve board has
been ordered TO furnish additional
data on the facilities OF the two
oklahoma towns before The location
liz designated by the federal board.
This information was obtained by
the world last nigh, from It's wash
ington correspondent.
wichita was eliminated because OF
It's proximity to Kansas city and the
claims of Tulsa and oklahoma city
ordered subjected to closer scrutiny
The report Of the Kansas city re-
serve board In demanded not later
than November IS and II In probable
that the branch city viii be named
early In December.
Tulaans Arc Disappointed.
disappointment was expressed by
local bankers over the delayed ac-
ton OF tho federal board In referring
the matter back to the Kansas city
reserve board. While still declaring
that they we're optimistic over
Tulsa's chances OF being named as
the reserve city. the decision Of the
federal board was plainly not "A mat
Ter Of Joy to tho Tulsa bankers.
| NJ. X. Graham, OF the Exchange
| National bank. w. o. Buck and r. J.
| Hartman when interviewed by The
| World last, night would not say that
Tulsa is not In the fight. but were
disappointed that the federal board
had not designated Tulsa as the re-
serve city instead OF checking tho
matter up TO the Kansas City board
again for further Information and
data before the final decislon Is
made
The Tulsa contingent. who have
been fighting for several months to
bring the branch bank to the Magic
cry. announced that they would not
quit the fiKht until the boards final
decision has been made and the
bank established.
Following is the communication
from the worlds Washington cor
respondent containing the report Of
the federal reserve board;
WARRINGTON, Nov. 2.-~The fed
eral reserve board makes the follow
Ing announcement with reference to
the hearing held In Washington on
tablishment Of a branch federal re.
serve bank by the federal reserve
bank OF Kansas City In the southern
territory of the tenth federal reserve
district
Tho Reserve Report.
Tho federal reserve board has
considered the briefs and oral afgu-
menh presented by the respective
petitioners In the matter OF the es-
tablishment OF a branch federal re-
serve bank In the southern portion
Of the tenth federal reserve district
by the federal reserve bank OF Kan
Has city. and has reached the fol-
lowing conclusions:
While the portion OF the district
tributary to these cities In being we'll
served In the matter OF rediscount
facfttties by the federal reserve bank
Of Kansas CITY. II Is the opinion OF
the board, however, that branch
with limited powers In the matter OF
rediscounts, the activities OF which
should be devoted mainly 10 the for
warding and receipt OF currency and,
TO transit operations. would he
concenienc" 10 the msnher bank,
and to the public In the territory
served hy such branch. and woul
Increase The efficiency of the transit
system.
wichita Eliminated
In view OF The proximity OF
Wichita TO Kansas city. 1t is mani
Tested that a branch located at that
point would not give any appreclable
additional facilities In this respect to
he more remote portions Of the dis
trict
The board will therefore direct
the federal reserve bank of Kansas
city to establish branch at either
oklahoma City or Tulsa
In view of the technical nature ~
transit operations the board has re-
Incsied report from the federal
reserve hank Of Kansas Ciiy giving
an analysis Of the source volume and
direction Of outgoing business and
the volume analysis uf all malt
schedules with reference 10 m. ter
ritory To- Io served hy a branch 10.
Gated I'm on, or other ot these
two cities the federal reserve bank
of Kansas CITY has therefore be, n
directed 90 transit 20 the board not
litor jhar November 80. 1919. the
Information called Tor 80 order ihAt
decision may boz reached a. 20 ih,
.fuu,r location ~ branch uuI,N