Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-11-11
of Huge Corpor-
alton for. Exporting Cotton,
ETC., Is Progressing Rap
idly and Successfully

Viewing the Feedral Foreign FL
nance corporation, organized at New
Orleans last Saturday with capital
stock of $12,OOO,000, as second in i'm
.portance only to the federal reserve
banking system and the establish
ment of a regional bank in the south,
! the bankers of Atlanta and Georgia
today are preparing to subscribe to
large block of the capital stock
Of the foreign finance institution.
1t is regarded as certain that the
banks of Georgia will subscribe for
not less than s1,500,000 Of the capital
stock, and. if all sign.
The certainty of the participation
i of Atlanta banks in the organization
= of the Federal Foreign Finance cor
poration was forecast. Tuesday after
noon at a meeting of the senior Of
ficers and directrs of Atlanta banks
at the Federal Reserve bank, on Ma
rietta street. Here speeches, ex-
planning in detail and approving the
objects of the--foreign finance corpo-
ration, were made by Senator Hoke
ESmith, Robert T. Maddox, president
sof the Atlanta National bank; John
K. Ottley. president of the Fourth
National bank; Mills B. Lane, or
Savannah, president of the Citizens
and Southern bank; Governor NJ. B.
Wellborn, of the Federal Reserve
bank, and Joseph A. McCord, chair
man of the board of the federal
bank.
The reflected assurance of Allan
ia bankers Endorsement of the for
eign finance corporation was con-
firmed Wednesday morning when Of
ficers of leading local banks an
nounced special meetings of their
boards of directors to consider the
%uuestion of subscriptions to the cap
zital stock of the institution.
List of Meetings
The meetings announced Wednes-
aay morning, with the dates, follow:
Fulton National acknowledgements
afternoon.
Atlanta National bank-Thursday.
Central Bank and Trust corpora
Etion-Friday.
Fourth National Bank-Saturday
Lowry National Bank-Monday.
Citizens and Southern Bank-No-
vember II, at Savannah.
Trust Company of Georgia-NeXt
Tuesday.
Other Atlanta banks, members ana
non-menbers of the federal reserve
system, will hold special meetings OIL
ktheir boards within the week to de-
2termine upon their course of action
with reference to participation in the
Federal Foreign Finance corpora
Htion. 1t is believed that without ex-
ception they will vote to subscribe TO
the capital stock.
H Warner Martin, president of the
EGeorgia p-,lkers' association, an
nouuceu Wednesday morning that
special meeting of the association
wouId he called to consider the for
eign finance corporation. The meet
ling he said, probably will be held
next week at Macon, but the date
could not be announced, pending more
&defnite arrangements.
Mr.. Warner was among the bank
ers present at the federal reserve
bank Tuesday when the projected
corporation was outlined, and he be-
#lieved the matter of such Importance
land consequence to the bankers of
the state that he will assemble them
lin special meeting to consider the
question of participation.
The Federal Foreign Finance cor
poration is a bank, and is being or
ganized and will operate under the
provisions of the Edge act, subject
to the approval of the federal reserve
board, at Washington The capltal
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