The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
275 187. Released for use Tuesday morning March 23, 1915« STATEMENT FOR THE PRESS. March 22, 1915* The Federal Reserve Board has.upon petition of banks in that vicinity, designated the City of Nashville, Term,, as a reserve city* The population of Nashville according to the census of 1910 was 110,364* The action taken we.s recommended by the Federal Reserve Agent at Atlanta, Georgia. The combined deposits of the six (6) National banks in Nashville is stated in the petition as ^20,077,907* The Board has adopted the following requirements as necessary be fore consideration will hereafter be given to the designation of any city as a reserve city: A population of at least 50,000; combined capital and sur plus of national banks in the applying city of not less than v3,000,000, with deposits of not less than ylO,000,000; endorse ment of the application by at least fifty (50) national banks located outside of the applying city who will state that they are carrying or intend to carry upon such designation, accounts with a national bank in the applying city. Applications will be referred for report and recommendation to the Federal reserve bank of the district in which the applying city is 1 cate4>%whose chairman shall certify the names of the national banks endors ing the application.
@FedFRASER