The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1919-08-31
,.,;dlv Becoming One of the
Big Cities of America FL
nancial Paper Says
LEADERSHIP is RECOGNIZED
1ocation of Bank Here Will
Help Approach Ideal
Set for System

"A
,5. IN this weeks issue n the
T,ned states Investor. The In
s...or Is recognized as one Of the
".t,nr financial and banking
.ntbor'ics In tho country II is
arbllshel in Boston. Mass, and the
,,orou.lr reasons that u gives In
:, appcal for the branch banks To-
5n0r IN this city constitutes one OF
me most winning arguments offered
an thA subject from ap, unbiased
,nlrign. Here Is what the Investor
has to say.
Tulsa, Okla. has asked for a
s~nnch OF the federal reserve bank
"A Kansas City. There are few places
ctch can present so good a claim.
~ policy of tho federal reserve
hard has been 20 marke haste slowly
IN the creation OF branches, the
Establishment Of any branch being
=. needless expense, unless It will
srve territory that the parent
hank is too remoteTtp care for prop
sriy. Where branch has appeared
desirable, LoFFtholco ofQocation has
called for *atafs weighing, for such
consideratGnsssis local pride, density
Of population. and even aggregate
sanking resources. must give way
before the more essential factors
lRe railroad connections, mail tncil-
Nies and distribution Of industries.
So. Los Angeles has no branch. while
the smaller city OF Spokane has one;
Galveston Ia passed by, but FL Paso
s selected; communities like Little
Rock aud Louisville are proper 10
cations in their district. while far
larger places like New Haven and
Rochester and Charleston and Sa-
unRah in other districts are OBJ
yously MOO at proper points to give
branches OF federal reserve bank
the necessary measure OF useful
hess.
in tho very respects. however, In
which n city establishes It's fitness for
having a branch. Tulsa presents
strong case. oklahoma would seem
clearly,to need reeArvo bank fecilitios
At some point nearer than hansls
CITY. where the present reserve bank
IL located. In 1918, according 20 ms
most recent report OF the fedora re-
rrye board, there were "a states
those banks made less use or the
discount facilities 81 tho reserve
banks than the banks of oklahoma,
and among the % are seven which
have branch reserve banks. The san
Francisco district. with ia seven
states. has only two states whose
banks d.i moro rcdlscouniinE than
he banks Of oklahoma but four or
he seven have either branches or
main reserve bank, and one of 'hom
has two branches Here you have
yroug presum ption for establishing
branch I'm Oklahoma, and the pre-
sumption Is heightened by the lact
That no western branch bank has 80
many member hanks As oklahoma
that mono discounted FOR 80 many
member banks as an Oklahoma
Nrapch hank would have done, and
Na, only the Omaha branch dis
counted 20 large q volume ~ hillH a
the Kansas city reserve banks DIS
countcd for Oklahoma member
hanks. Beyond a doubt tho business
erlHs In Oklahoma.
Near Kansas city.
OS course. sufficicnt distance from
the main bank is a real 'oNsld'rh
ton A branch IN Tulsa would re
?Ss miles away from Kansas 'li''
This is a greater distance from re-
serve bank Qf redissG&nt than soh'-
rates anv point m Tho New tnE'ahd
disfrIrt from Boston except the mos
northprly parts OF Maine, or auf
bar's in the third district from Ihll-
ade.phla. Tulsa Is much more remote
from Kansas city than ellhrr or 'H'
Cleveland hanks bran 'hes, or 'hh'
tvo ~ tho three branches ot lhN At
hnf, hank ARE from their l'nlt'
live nerpnt institutions Tho bmahh
brarch ls nearer 10 Kansas CITY. me
Ral'.,nore branch 20 Richmond, an ]
me Detroit branch is scarcely .n1l
distant from Chicago. Ih' l"l1'
claim seems to satisfy the most 'N.
acting requirement as 20 dis. nm j., ~
irom The federal reserve cry "I ''-
Prt why should Tulsa he me
chosen city. rather than some "','
Okahoma point2 Partly because .,..
property OF oklahoma rests uP"tt. .-''
three basic indus;r.c" 81 hErl,
timber and miueraF. tho "'"'I ~
t1s.r.es. like marutac'urlhF, I''''
ng and wholcsalinE meeting per '"t
% rood business or a'pt'.N''"' "'
cord ag TO tho ups ana downs W.
these underlying Industries. W va,
mineral output. OIL fln'' I'al
ooal arc the principal conn"
Tulsa is the acknowledges on Csr'
ter ~ the southwest and is 'h', n,''
90 arpe city 20 tho zrc anu
fields The ten coal-proiuc'nE cou.',
ties surround tho city, Il'sa '"uu >
tsof he.ng one ofNho i'n. lh. .",',
ber Industry Is south ana s""' 'i,'7.
% Hrc c.'v and Tulsl o. m a ar
nno fo and from the .Al '".'
markets 81 the north hh1 'AS' w
TO agriculture. the richest s.. ~.
- oklahoma for farming mas .S '7'
for .s ccntcr ana "NsrN 't'''..
oar'.r ~ oklahoma - cohn,'.' .
"a W.'h Tulsa, fho rn'hif
mem - the products h'lnE .'""
sr3 through that civ Ih ia'.'
he branch were % D." l"''''H IT.
rofr' west Of Tulsa, % per ''h' .
tHa hug" C'clrnur"s from 'r''
h0~ts minerals and N''n'r
more han so per cont ~ 'h' A-..
81 H-r' ''rlrarreg ~"N.l no '..'
20 'tsa westward trend ''.'''
of '.r natural caz'wo ONE. 90
a. 'a unwarraufei cost f' ''."''
hal.- iu wasted tw"
Perhaps however. n- "n'..'-.'
frs'.s sH any are t'Hri'i '' o..
tyr... The rcdIsrou"Is H'A'
o. ..nwa banks at 'hn Kansas = ..
~ srr, bank .1 i9lN TH..t count
uC-e made almost so ur' NJ OKLA
hoHas total Of Sl7n.Nn'."'' Hi .'
e's-.Erts This .s more '.'n =
%. 1000 greater ''.r 'nn r
Operations Of any other
Fr.r fhr nine counties r'..
rn.H Hf that cl.E Hrae" ".. ...