Full text of Records of the Federal Reserve System, Record Group 82 : #3 Hearings for Philadelphia (Jan 15, 1914), Box 2644, Folder 3

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

MEMORANDUM RELATIVE TO EXHIBITS SUBMITTED AT HEARING IN WASHINGTON FOR
PHILADELPHIA
EXHIBIT NO.
Association of Credit Mon, Philadelphia, - resolutions,

1.

Chamber of Commerce, Philadelphia, ~ resolutions,

Z*

0

Clearing House, Philadelphia, - resolutions,

3.

Drug Exchange, - resolutions,

4.

Grocers’and Importers’Exchange, Philadelphia, - resolutions,

5.

M e r c h a n t s ’and Manufacturers’Association, Philadelphia, resolutions,
Pennsylvania Bankers Association, Group 3 f - Returns from hanks
throughout Pennsylvania, addressed to Samuel McCracken,
Chairman,

' 1 51926

Pennsylvania Bankers Association, Group 4. - Returns from banks
■throughout Pennsylvania, submitted by the Cashier of the
West Branch National Bank, Williamsport, Pennsylvania,

»D’7H5P5’




Reproduced from the Unclassified I Declassified Holdings of the National Archives

TREASURY DEPARTMENT TELEGRAM.
WHERE WRITTEN:

RESERVE BANK ORGANIZATION COMMITTEE*
XO

N a n a i s B* Raevas, President,
Philadelphia Clearing House,
Philadelphia, Pa*

Washington,
January 13t 1914*

Committee will hoar Philadelphia rapresentatIras Friday#
morning* tan o'clock, at office Secretary Treasury, Treasury Building,
fill be glad if yets can furnish list of thoss wh* will appear in ad▼ance of meeting*
Secretary pro tesi
Reserve Bank Organization Committee*

O F F IC IA L B U S IN E S S .
GO VERNM ENT RATES.

O F F IC IA L

C h a r g e T r e a s u r y D e p a r t m e n t , A p p r o p r i a t i o n f o r ________________________________________________________________________________________ - ____________


2— 6827


T h e a p p r o p ria tio n fro m w h ic h p a y a b le m u s t b o s ta te d o n a b o v e lin e .

D EPARTM ENTAL S T O C K FORM 2 12 8 .

Reproduced from the Unclassified / Declassified Holdings of the National Archives

TREASURY DEPARTMENT TELEGRAM.
WHERE WRITTEN:

Raaarr® Bank Organization Comm it tea

Washington,
January 10* 1914*

Francifc B* Raevac* Prac idar,t#
Philadelphia Clearing I l o u a u ,
P h ila d e lp h ia ,

Corns! ttaa ^iXl haar Philadelphia rapraaantativea Friday
morning, January &ix%mn%h*

Saeratary pro tarn
Rasenre Bank Organization Committee.

O F F IC IA L BUSINESS.
COMM ERCIAL RATES.
COLLECT.




OFFICIAL
Departmental Stock Form 212SL

I from the Unclassified / Declassified Holdings of the National Archives




January 13th. 1914.

Hon. M. 0. Elliott, President pro tem,
Reserve Bank Organization Board,
Washington, D. C.
Dear Sir:Referring to your telegram addressed to
our Clearing House President, I beg to advise that our
Committee expects to appear before your Committee on
behalf of Philadelphia on Friday morning, January 16th.,
at ten ©♦clock, as this was th® hour we understood was
arranged through Hon. A. Mitchell Palmer.
Yours very truly,

ypfodQC^d'from the Unclassified / Declassified Holdings of the National Archives

*
S ix t y - T h ir d C o n g r e s s .
OSCAR W. UNDERWOOD. CHAIRMAN.
CLAUDE K1TCHIN.
AUGUSTUS O. STANLEY.
HENRY T RAINEY.
CLEMENT C. DICKINSON.
LINCOLN DIXON

MICHAEL F. CONRY.

CORDELL HULL.

SERENO E. PAYNE.

WINFIELD S. HAMMOND.

JOSEPH W. FORDNEY.

ANDREW J. PETERS.

AUGUSTUS P. GARDNER.

A. MITCHELL PALMER.

J. HAMPTON MOORE.

TIMOTHY T. ANSBERRY.

SYDNEY ANDERSON.

JOHN N. GARNER.

WILLIAM R. GREEN.

JAMES W. COLLIER.

VICTOR MURDOCK.

WASHINGTON, D. C.

N E Y k E C O L Q U ITT. CLERK*

January 5th, 1914,
Hon* W i l l i a m G. Mo A&no,
Secretary of the Treasury,
Washington, D.O.
M y dear Mr* Mo A d o o I

am w r i ting you to confirm the

a p p o i n tment already made and to say that the committee of
Ph i l a d elphia hankers will be present at your office on
F r i d a y m o r n i n g January 16th, at ten o ’
clock A*M*

The Pitts-

bu rgh committee w i l l be present in the afternoon of the same
day.




Yours ve r y truly,

F

Reproduced from the Unclassified / Declassified Holdings of the National Archives

/

T

CAPITAL S 2,000,000

h

e

G

i

FRANC I S B . REEVES, P r e s i d e n t
RICHARD L . AUSTIN ,V i c e P r e s i d e n t

r

a

r

P

h z x

SURPLUS $ 4,500,000

N

d
.a

a
d

e

t

i

i

.p

o
h

n

a

i a

,

l

B

a

n

T. E. WIEDERSHEIM, Vice P r e s i d e n t
JOSEPH WAYNE, J R , V i c e P r e s i o s n t s C a s h i e r
CHARLES M. ASHTON, A s s t . C a s h i e r
CHARLES F. WIGNALL,A s s t . C a s h i e r




January 2, 1914

KcAdoo, Chairman,
_....0 Bank Organization Committee,
Washington, D. C.
Pear Sir:
Tour favor of 29th December is at hand.
Our Clearing House Association has appointed a Com­
mittee of fire of their representatives, who will
be pleased to accept your invitation to visit your
city at a date to be agreed upon between yourself
and them.
I have no doubt they will present such
written statements as you may desire.
Respectfully yours*

President,
'
PHILA. CLEARING HOUSE ASSN

k

Reproduced from the Unclassified I Declassified Holdings of the National Archives

I X C O R P tm A T E ]}

O F F I C E O F T H E S K C lf K T A H Y

1011 C H E S T N U T

P

STREET,

hilad e l p h i a

.

January 12th, 1914.

PURPOSES
T O U N IT E C R E O IT M EN FO R T H E P R O P ER
P R O T E C T IO N O F M E R C A N T IL E C R E O IT .
FOR

D IF F U S IO N

PROPER
TO

OF

G R A N T IN G

ID E A S

IN D U C E L E G IS L A T IO N

T IO N
TO

OF H O N E S T Y

O B T A IN

R E G A R D IN G

TH E

O F C R E D IT .

IN

FOR

TH E

PROMO­

IM P R O V E D

S E R V IC E

FROM M ER­

FR AUDULEN T

F A IL U R E S ,

C A N T IL E A G E N C IE S .
TO

PR O S EC U TE

W HERE

At a special m e e t i n g of the B o a r d of Directors

B U S IN E S S .

D IS H O N E S T Y

APPEARS

E V ID E N T .

of the P h i l adelphia Association of Credit Men, h e l d
January 12th, the following Resolutions were u n a n i ­

T O P R O M O T E T H E IN T E R C H A N G E O F C R E D IT
IN F O R M A T IO N .

m o u s l y adopted:
C h a s . D. J o y c e ,

p r e s id e n t

T H E A . 001.BURN 0 0 .

H. D. M c C a r t h y ,

v ic e -p r e s id e n t

T R A D E S M E N ’ S N A T IO N A L BANK

F b e a s B rown S n y d e r ,

tre a s u re r

F IR S T N A TIO N A L BANK

j . A. M c K e e , J r .,
1011

secretary
C H E S TN U T S TR E ET

D IR E C T O R S
J . A. M c K e e ,
M ER C H AN T * EVANS 0 0 .

C ha s G. R a p p ,
Y O U N O , S M Y T H , F IE L D CO

G. L. Levi ,
S A M 'L S TE R N B E R O E R C O .

D. G. E n d y ,
A R T M A N -T R E IC H L E R CO

W H E R E A S : The Federal Reserve Act requires the e s ­
tablishment of no less than eightcFederal Reserve
B a n k s throughout the country, and "That the d i s ­
tricts shall be apportioned with due regard to the
convenience and customary course of b u s i n e s s and
shall not necessarily b e co-terminous with any State
or S t a t e s ”, be it therefore
RESOLVED: That Philad e l p h i a with its large bank i n g
resources, rank i n g second only to New York City,
its man u f a c t u r i n g pre-eminence, its wonderful c o m ­
m e r cial > mining, transportation and agricultural i n ­
terests, we b e l i e v e is entitled to be selected as a
superior location for one of the Federal Reserve
Banks; and be it further

C h a s . H. W ol f ,
M ILLE R , B A IN , B E Y E R A C O .

A. W . PlCKFORD,
OIRARO N A TIO N A L BANK

D avid S . Lu d l u m ,
T H E A U TO C A R C O .

Leonard W . Brown,
SHAN E B R O S . A W ILSON CO.

C. S t a n l e y F r e n c h ,
SAM L. H . FR E N C H * CO.

H. E. M o o d y ,
R O Y A L -A S C O T K N I T T I N t t M ILLS

A d olph A h r e n s , J r .
L I P P I N C O T T , JO H N SO N A C O .

J. S pe n c e r B rock ,
F E IS T E R -O W E N PRESS IN C .

JJ . W . D a n i e l s ,
A T L A N T I C R E F IN IN G C O .

C> L. M c C alla ,

RESOLVED: That inasmuch as the Secretary of the
T reasury h a s stated that he prefers he should be
v i s i t e d only b y delegations of bankers, that this A s ­
sociation will not seek any direct communication with
the Organi z a t i o n Committee at Washington because it
h a s full confidence that the representative bankers tff
this City will demonstrate to that Committee the j ust­
ice of Philadelphia*s claims and see that the needs of
Siurc8$ty are properly cared for; and b e it further
R E S O L V E D : That a copy of these Resolutions be sent
to the Clearing House A s s ociation of P h i l adelphia and
to the Press.

H E 8 8 -B R IG H T M F G . C O .

C ha s. T . T aylor,
W M . CRAMP A 8 0 N 8 , S H IP A
E N G IN E B L D G . C O .

J oh n H. Mc C r a c k e n ,
H A L P E N , G R EEN A C O .

W . K. H a r d t ,
F O U R T H S T . N A T L . BANK

J ohn S . M c C a y ,
W ELSBACH COMPANY




$

Reproduced from the Unclassified I Declassified Holdings of the National Archives

PHILADE LPHIA ASS 0 CIATION of CREDIT MEN
I NCOKPORATK] )

O F F IC E

O P TH E

SECBETA RY

1011 C H E S T N U T

Ph

STREET,

i l a d e l p h i a

January

PURPOSES

.

12, 1914.

T O U N IT E C R E D IT M E N FO R T H E P R O P ER
P R O T E C T IO N O F M E R C A N T IL E C R E D IT .
FOR

D IF F U S IO N

PROPER

OF

G R A N T IN G

ID E A S

R E G A R D IN G

T O IN D U C E L E G IS L A T IO N F O R T H E
T I O N O F H O N E S T Y IN B U S I N E S S .
TO

O B TA IN

TH E

O F p R E D iT .

IM P R O V E D

PROM O*

S E R V IC E

FROM M ER ­

TO
PR O SECUTE
FRAUDULENT
W HERE
D IS H O N E S T Y
APPEARS

F A IL U R E S ,
E V ID E N T .

C A N T IL E A G E N C IE S .

T O P R O M O T E T H E IN T E R C H A N G E O F C R E D IT

Mr. Levi L. Rue, P r e s d t .,

IN F O R M A T IO N .

C h a s . D. J o y c e ,

Phila* Natl. Bank,
p r e s id e n t

T H E A . COLBURN O O .

H . D. M c C a r t h y ,

Philadelphia; Pa.

v ic e -p r e s id e n t

T R A D E S M E N 'S N A T IO N A L BANK

F reab B row n S n y d e r ,

theasuhes

Dear Sir:-

F IR S T N A TIO N A L BANK

J. A. M c K e e , J r .,
1811

s e c re ta ry
C H E S TN U T S TR E ET

D IR E C T O R S
J. A. M c K e e ,
M ER C H AN T * EVANS O O .

Fo 1.1owing your good judgment, we are
sending you copy of Resolutions passed b y our
B o a r d of Directors in lieu of representation at

C has G. R a p p ,
Y O U N Q , S M Y T H , F IE L D CO

Washington,

Q. L. L evi ,
S A M 'L 8 TF R N B H R 0 E R C O .

D. G. E n d y ,
A R T M A N -T R E IC H L E R CO

Very truly yours,

C h a s . H. W o l f ,
M ILLE R , B A IN , B E Y E R * C O .

A. W . P ick fo r d ,
QIRARD N A TIO N A L BANK

D avid S . Lu d l u m ,

\ a

.

T H E A U TO C A R C O .

Le o n a r d W . B r o w n ,
SHAN E B R O S . ft W ILSON C O .

C. S t a n l e y F r e n c h ,
SAM L. H . FR E N C H ft C O.

H. E. M o o d y ,
R O Y A L -A S C O T K N I T T I N G M ILLS

A dolph A h r e n s , J r .
L t P P I N C O T T , J0 H N 8 0 N * C O .

J. S pe n c e r B rock ,
F E I8 T E R -O W E N PRESS IN C .

J . W . D a n ie l s ,
A T L A N T I C R E F IN IN G C O .

C. L. Mc C a lla ,
H E 8 8 -B R IG H T M F G . C O .

C h a s. T . T aylor,
W M . CRAMP ft 8 0 N 8 , S H IP A
E N G IN E B L D G . C O .

J o hn H. M c C r a c k e n ,
H A L P E N , G R EEN A C O .

W . K. H a r d t ,
F O U R T H S T . N A T L . BANK

J ohn S . Mc C a y ,
W ELSBACH COMPANY




Secretary,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

H O W A R D B. F R E N C H

IC H A R D L. A U S T IN

W A L T E R H ORSTM ANN

^Treasurer

V ice-Presidcnts

D IR E C T O R S

D IR E C T O R S

PHILADELPHIA
CHAMBER OF COMMERCE

H arry B. French
John E . Baird
Frank Gould
Edward F. Beale
L. G . Graff
Chari,;s M . Biddle
John E. Hanifen
Charles E . Catteli
Tho«. B. Harbison
Thomas Devlin
W m . O . Hempstead
Powell Evans
E. C. Irvin
Samuel S. Fels
J. T . Jackson
T . James Fernley
James Collins Jones

IN C O R P O R A T E D

211

BOURSE

David P . Leas
Lewis J. Levick
H . K . Mulford
William M cA leer. Ji
A . C. M cGowin
J. A . M cKee
Horace T . Potts
E . O . Roth

1909

B U IL D IN G

M EM BER
C ham ber

N. B. K E L L Y ,

f'rrii;hf Commissioner

o f

c o m m e r c e

RIGGS

or

t h e

Francis B. Reeves, J
William B. Riley
Coleman Sellers, Jr.
Franklin Smedley
John C. Sullivan
Charles Z . Tryon
Ira Vaughan
W alter W ood

OF
U nited

States

NATIONAL HEADQUARTERS
BUILDING. WAS HIN GT ON.

D.

o f

C.

January 10th# 1914

Mr# John C* Boyd,
Secretary, The Philadelphia Clearing House Association,
Philadelphia, Pa.
Dear Sir:
At the meeting of the Boar- of Directors of the Philadelphia Cham­
ber of Commerce held Thursday evening Janu ry 8th, the following resolu­
tion was unanimously adopted:
It is the opinion of the Board of Directors of the Philadelphia
Chamber of Comm-rce that Philadelphia is entitled to have
reserve bank.

a

regional

This city is the first in manufacturing, is the second in

banking resources, is the third in population, and is one of the most
Important in the issue of commercial paper and in the holding of reserves
for country banks*

Philadelphia is the central and natural banking

head of one of the most populous and richest sections in the United States.
For these and other reasons a federal reserve bank should be located
here if the plain mandate of the law is to be carried into effect.

That

passage of the law reading:
"That the districts shall be apportioned with due regard to
the convenience and customary course of business and shall not necessarily
be coterminous with any State or States.”




Reproduced from the Unclassified I Declassified Holdings of the National Archives

should leave no question as to the }/egal necessity of establishing a
federal reserve hank in our city#
The question of a federal reserve bank is not, in our opinion,
merely a banking question, but is a question of financial interest that
affects every class in the coranunity•

We have been informed, however,

that the Secretary of the Treasury has stated that he prefers he should
be visited only by delegations of bankers as he desires to come to a
decision for the apportionment of federal reserve banks on the basis of
banting facilities and necessities, and in view of this statement, the
Philadelphia Chamber of Commerce will not take any action further than
this expression of its opinion, because of the confidence it has that the
representative bankers of this City will see to it that the necessities
and the needs of our city are taken care of and that our just demands
shall be accepted •
It is voted that a copy of this expression of opinion shall be
sent to the Clearing House Association of Philadelphia and to the press.
Attests




Reproduced from the Unclassified / Declassified Holdings of the National Archives

At a Special M e e t i n g of the Philad e l p h i a Clearing House
Association, held Monday, December 29th, 1913,
ON MOTION- the following Preamble and Resolution wa6 adopted: W H E R E AS The Federal Reserve Act as passed by Congress and
signed by the President on December 23rd. last, provides for the
establishment of not less than eight nor more than twelve Federal
R e s e r v e Banks in ’
’
districts to be apportioned with due regard to the
convenience and customary course of b u s i n e s s ”, and
W H E R E A S P h i l a d e l p h i a stands first in Manufacturing, second in
B a n k i n g resources and third in P o p ulation of the great Cities of the
U n i t e d States, and
W H E R E AS the Commonwealth of Pennsylvania, of w h i c h P h i l a d e l p h i a
isthe metropolis and the natural financial center, has a greater
n umber of National Banks than any other State in the Union, and
W H E R E A S the Banks of Philadelphia, by a broad and liberal
policy, have made the City a financial center not only of P e n n s y l v a n i a
and States contiguous thereto, but also a channel through whi c h the
’
’
cu stomary course of b u s i n e s s ” of a vast section of the United
States n a turally flows,
therefore be it
RESOLVED, That if the broad purposes and spirit of the Act are
to be fulfilled, a Federal Reserve Ba n k should be located in
Philadelphia.



-1 -

Reproduced from the Unclassified / Declassified Holdings of the National Archives

RESOLVED, that this subject be referred to the Clearing Hou s e
Committee with full power to appoint a Committee of Five and take
such other steps as m a y seem to them advisable to best present the
claims of Phi l a d e l p h i a to the Organization Committee at Washington*
On motion, It was resolved that in the opinion of the Presidents
or other executive officers of the National Banks represented at
this m e e t i n g it is desirable for the banks to enter the n e w system.

President^ ^

Attest:




Secretary.

BOURSE BUILDING
P H IL .A D E L .P H IA

Mr. Levi 1. Hue, President,
P h i l a d e l p h i a national Bank.
Dear Sir*.-

At a s t ated meeting of the Board of Directors of the P h i ladel p h i a
Drug Exchange, held on January 14th, 1914, the following p r e a m b l e and
resolution isere u n a n i m o u s l y adopted:WHEREAS The Philadelphia Drug Exchange, composed of m e r c hants and
manuf a c t u r ers in the drug and allied lines, vie*s with deep interest
the plans p r o p o s e d for placing in operation the Federal Reserve Act
recently p as sed by Cpngress, and
WHEREAS They thoroughly believe that Philadelphia, with its large

banking resources, its preeminence in noanufactures, and its extended
commercial interests, is entitled to be selected as an eminently prop
er location for one of the federal Reserve Banks to be created under
this act,, therefore be it
R E S O L V E D That the Secretary o f the Treasury and his associates are
respectfully but e a r n e s t l y urged to give due consideration to the a r ­
guments w h i c h will be advanced by the representative bankers of this
city, with the hope that this may result

in the establishment

a b ank here, as suggested.




Very truly yours

of such

■' '‘ Rfeprbdticfed from the Unclassified /‘Declassified Holdings of the National Archives

3400—1-6-13

Tees: G

r o c e r s

’

and

I

m p o r t e r s

’ E

x c h a n g e

O F P H IL A D E L P H IA ,
P h i l a d e l p h i a
JO H N E. PO O R E,

B o u r s e

S e c r e t a r y

January 12, 19X4*

Bell Telephone, Lombard 1434

Mr* John C. Boyd, Secretary*
The P h i l a d e l p h i a Clearing House Association,
Philadelphia, Pa.
B e a r Sir:
At a m e e t i n g of the B o a r d of Directors of the G r o c e r s 1
and Importers* Excha n ge of Philadelphia, h e ld January 7thf 1914#
the f o ll o wi n g resolutions w er e u na n im o us l y adopted:-*»
WHEREAS, The Fede r a l R es erve A ct requires the establishment of
no less than eight F e d e r a l R e s e r ve Ba nks throughout the country
and ♦•That the districts shall he a p portioned * i t h due regard to
the comvenience and customary course of business and shall
nbt ne c essarily be coterminous w i t h any State or States
be it therefore
RESOLVED: That Ph i l a d e l p h i a owing to its numerous superior quali­
fications as a business and b a n ki n g centre, r an k in g first in m a n ­
u fa c tu r in g interests, second in b a n k i n g resources and third in
population, is in our opinion entitled^ to':1m selected as a loca­
tion for one of the F e d e r al R es erve Banks. P h i l a d e l p h i a is we l l
k no w n as the natural b a n ki n g h e a d of one of the most populous and
affluent sections of the country, w h i c h fact should emphasize the
justice of the establishment of a Fe d er a l R e s e rv e B a n k in this City,
and be it further
i

RESOLVED: That as the S e cretary of the Treasury has re p r e s s e d a
desire that he should be vi s ited only be De l eg a ti o ns of Bankers,
this Exchange, h a v i n g full confidence in the ab i li t y of the rep*
reeehtative Bankers of P h i la d el p hi a to ably demonstrate the super*
ior claims of P h il a d e l p h i a and urge that the needs and require*
ments of our City b e given just consideration, wi l l not take any
fur t he r a c t i o n as this time*
RESOLVED: That a copy of these R e so lutions be sent to the Clearing
House A s s o ci a ti o n of P hi l ad e l p h i a and to the Press*
ATTEST,




Reproduced from the Unclassified I Declassified Holdings of the National Archives

(Mrera
D. T. FLEISHER
President

WM. H. WEIMER. JR.
First Vice-President
A.

REED McINTIRE
Second Vice-President

M erchants & M anufacturers
A sso c I at ion
f
H. E. O O R . T H I R T E E N T H A M D M A R K E T S T R E E T S

MORRIS DANNENBAUM
T reasurer

C. W. SUMMERFIELD

V.

PHILADELPHIA

Secretary

H im tn ra

December 30, 1913.

CALVIN M. SMYTH
Y oung, S m yth , F ield Company

FRANK S. EVANS
Strawbridge &■ Clothier

WALTER WHETSTONE
W hetstone & Co., Inc.

EDWIN W. PURNELL

The following Resolution was adopted by the Board
of Directors of the MERCHANTS & MANUFACTURER S
ASSOCIATION of Philadelphia:-

J. H . W elsh & Co.

GEORGE L. MITCHELL
Geo. L . M itchell & S ta ff

ERNEST T. TRIGG
John Lucas & Co., Inc.

RICHARD J. FREEMAN
Pioneer Suspender Co.

MORRIS DANNENBAUM
L . D annenbaum ’s Son &■ Co.

FRANK W. HUFF
Supplee Hardware Co.

J. H. CUMMINGS
John B . Stetson Co.

GEORGE T. LAING
L a in g , H arrar dr Chamberlin
D. V. BROWN
D . V . Brow n

A. REED McINTIRE
M clntire, M agee & Brown Co.

MORGAN H. THOMAS
Garrett-Buchanan Co.

H. McILVAIN BIDDLE
H enry C. B iddle & Co.

JOSEPH H. HAINES
H aines, Jones & Cadbury Co.

IRVING KOHN
K ohn, A d le r & Co.

D. T. FLEISHER
S . B . & B . W . Fleisher, Inc.

GEORGE ROMMEL

"WHEREAS, Federal Regional Reserve Banks are con­
templated by officials of the United States Govern­
ment, and
WHEREAS, the distribution of these Regional
Banks apparently omits Philadelphia as a reserve
city, and
WHEREAS, the importance of Philadelphia as
a m a n u facturing and industrial centre, as well as
its geographical location and large banking de­
posits, would point to this City as a logical place
for a Regional Bank; therefore, be it
RESOLVED: That the MERCHANTS & MANUFACTURERS
ASSOCIATION is u n a lterably opposed to having this
City disregarded in this respect, and
That we call upon the President, Senators,
Representatives, and officials of the government,
as well a a business men generally, to lend aid and
influence toward having Philadelphia recognized as
a Regional Reserve City, and to prevent the elimina­
tion of Philadelphia in this regard."

R . Blankenburg Co.

E. W. STRINGFIELD
C lyde Steamship Co.

W. H. WEIMER. JR.
W eim er, W right & W a tk in Co.




On behalf of the Board of Directors,
D. T. FLEISHER,
Attest: c. W. SUMHFRFIELD,
President.
Secretary.

$

.uuRmmfcitum

Reproduced from the Unclassified I Declassified Holdings of the National Archives




' R@|)ft>difced from the UnclassifiedJ Declassified Holdings of the National Aichives

S e c o n d N a t io n a l B a n k
A l l e n t o w n , Pa .
E d w a rd H arvey,

p r e s id e n t

.

T m o s . E. R i t t e r ,

C. H . M o v e r , C

a s h ie r

v ic e

pre

.

January 12th 1913.
Mr. -Samuel McCracken,

Chairman,
rW
! il*

Groupe Three,Penna.Bankers Asso.,
Wilkes Barre, Pa.
Dear Sir:
As I understand that a committee from Groupe 3
of the Pern sylvan ia Association intends to accompany a
committee of philadelphi a Bankers to Washington, for the
purpose of presenting the claim of the city of Philadelphia
for a regional bank, I believe that an expression of opinion
from the various banks in this vicinity mi$it be of value
to this committee.
We b e l i e v e that a Re s erve B a n k should be located
in P hiladelphia for the reason that by far the larger volume
of b usiness of the banks in this locality

lias heretofore

been transacted through Philadelphia and that it would not
only be unfair to that city but an inconvenience to member
benks to have all this business diverted to N e w York.

Had

the banks heretofore found it m o r e convenient to have done
their business through N e w York, there wo u l d probably not be
at this time so strong a sentiment in favor of having Phila
delr>hia appointed as a R e s e r v e City and we trust that the
efforts ’
-vhich are being m a d e t o w a r d this end will result
in the placing of a regional bank in Philadelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

E S T A B L IS H E D

f '.M 'iT A i.

I S 5 5

$ 1.000,000.00

R E U B E N J . B U T Z , PflESiDEN
D R . C . O . S C H A E F F E R . V ic e ; P r
JO H N F.W E.NNER, C a sh ie r
C H A S . S . O I L C H E R , A s s t . C as

A ll e n t o w n . P a .
January

12 f

1914

Information has reached us that on Friday January 16,1914,
Coimittee of Philadelphia Bankers vriii appear "before the Federal Reserve
B o a r d a t Washington, 3D*C . to present the claim of the City of Philadelphi a for a Kegional Bank.
It seems to us to "be desirable that every member Bank of the
Pennsylvania Bankers Association should put itself on record as favor­
able to the establishment of a Federal Heserve Bank in the City of
P hiladelphia and v?q are, therefore,vrri Ling to you in order that the
opinion of our Board of Directors in the matter m a y receive proper
consideration.
T/e are decidedly of the opinion that it

vroxxll be m o g i i n con­

venient for "Eastern Pennsylvania to be obliged to transact such b u s i ­
ness as it ”
:ill have to do,with the Reserve Bank at either Washi n g t o n
I). C.

or at Baltimore,Kd.
From time immemorial our bank i n g and comrrercial business has

been transacted ™ i t h either Philadelphia or
the latter City.



lie*' York,and mostly v/ith

B o t h Washington and Baltimore are inconvenient of

Ill

................................................................................................

W li

, .

--------—T '/ — ••:-- ■.r-i&’-r.'1

■

Reproduced from the Unclassified I Declassified Holdings of the National Archives

E S T A B L IS H E D

1 6 5 5

Th e A llentow n Natio nal Ba n k
C a p ita l

$ 1,000,000.00

R E U B E N J . B U T Z , PRESIDENT
DR. C . D . S C H A E F F E R , V ice: P r e s i d
J O H N F. W E N N E R , C a s h i e r
C H A S .S .O IL C H E R , As s t . Cashief

Al l e n t o w n . Pa
- 2 -

access to most of the Cities of Pennsylvania, whether by mail or common
carrier,
We beg to advise you that we have heretofore writ t e n
to the Hon.

Vi 1 1 iam McAdoo,S ecretary of the Treasury, in accordance

\?ith the tenor of this letter and we have been advised that our letter
is on file a n d will receive due consideration.




pnpnnnnnr"-------- "nrwum—m ------- rm~nrn~m-----------1—^

— n-------n~n~inrnrTTnirwn

a—

.

i

i

Reproduced from the Unclassified / Declassified Holdings of the National Archives

M e r c h a n ts N a tio n a l B a n k
C A P IT A L
THOS. F. DIEFENDERFER, PRESIDENT
THOS. J. KOCH, V ic e P r e s id e n t
FRANCIS 0 . RITTER, CASHIER
H. B. WAGNER, ASS’T CASHIER




$ 2 0 0 ,0 0 0 .0 0

SUR PLUS

A llo n to w ii,

P

$ 2 5 0 ,0 0 0 .0 0

_
e n n a J a n u a r y

.
1 ***

1 9 1 4 #

Mr. Samuel McCracken, Gashier,
P eoples B a n k of Wilkes-Barre,
Wilkes-Barre, Penna.
Dear Sir:In reply to your favor requesting our
views regarding the location of a Re g i o n a l R e ­
serve Bank in Philadelphia, we beg leave to state
that we have communicated our views a week or so
p a s t to the Fou r t h street National Bank of P h i l a ­
delphia, Penna.
Very truly yours,

i i i i mii

Reproduced from the Unclassified I Declassified Holdings of the National Archives

NO. 8 6 5 6

CAPITAL STOCK $50,000.00
SURPLUS AND PROFITS $40,000.00

OFFICERS:
W. B. F O S S . M . D , P resi dent .
J O H N B O WD E N V ice- P resi dent .
W A. EDGAR. C ashier

A

o a w j u

^JL.

sh ley

, P

enna

,,

\ V

Q

^
t)

CN

^(K q t^€jxA. A i x ■ -^a.
(W > - G

o^ j S
Oa A

L -jb ,

sla

.

,

^

sl

—

^

n ft '
^

c' Y w e ^ _ .

,




*■1

I

1 1 ''f

1 | P " " ^ ^ ™ ! |LIUJ11) 11"■ ■»111111111111'L-....1.. “ “»«».....
Reproduced from the Unclassified I Declassified Holdings of the National Archives

C A P IT A L
SURPLUS

5202
U

®l]e

n it e d

States D

AND

P R O F IT S

$ 5 0 ,0 0 0
6 8 ,0 0 0

e p o s it a r y

jkt\\ms 'National JBartk
ATHENS, PENNA.

D. R. STEPHENS, PREST.
N. F. WALKER, SECOND V, PREST.

L. W. EIGHMEY, FIRST V, PREST
M. A. SLEEPER, CASHIER

Athens, Pa.
January, 12th, 1914,

Samuel Me Cracken,
Wilkes-Barre, Pa.
D e a r Sir,-

It is the opinion of this B a nk that this territory

and division as Group fhree w o u l d lie bett e r served w ith a Regional Bank in
Philadelphia, Pa. rather than Washington, D.C. or Baltimore Md. and We hare
already w r i t te n the Hon. Wra G.McAdoo, requ es t in g his personal influence to
establish a Regional Ba n k,in Philadelphia, Pa.




We remain,
V e r y truly yours,
Athens National Bank,
Cashier.

^fitrmrrst jSTstHitttttl
JNO. A . MORLEY, P r e i s i ' d p n t

J. S. TH U RSTON, V i c e

P r e s id e n t

W. T. PAC E, C a s h i e r

v r. Samuel Be Cracker*,

Jany, 13th. 1914.

Chairman of Croup Three,
of Pennsylvania,
Bear Sir:In reply to yours of the 10th inst. in regard to a Regional
Bank in Philadelphia, will say that we would much prefer to have the
r e g i o n a l Park for this district in either Philadelphia

o f 'Tew York, as

we could receive far better mail service from either Philadelphia or
Yew York than Washington or Baltimore , as letters mailed after banking
hours in either Philadelphia or Yew York are received here before
b a r k i n g hours the next morning, where from Washington or Baltimore
it w o u l d take ju3t a day longer, which would be the case all through
this section and would necessitate our doing at least part of our
b usiness with a correspondent in either Philadelphia or Few York the
same ae we are doing now.
Trusting that this letter will be of some service to you as
well as to the Federal Reserve Board, ! beg to' remain,




Yours very truly,

■
'

ppl

I
T ...—
111...1 ----------- — ------------------,
11
Reproduced from the unclassified / Declassified Holdings of the National Archives

I

2 6 5 9

J anuary 13 th t 1914.
Mr • Samuel M c C r a c k e n , Cashier f
Peoples B a n k of Wilkes-Barre,
W i I k es-Barr e # P e n n a •
B e a r Sir:In reply to y o u r letter of January 10th, we w o u l d like
to see Ph i l a d e l p h i a selected as region for Reserve Bank, as we
have m a n y itens on -Philadelphia and this has always served our
interests m o r e satisfactory than H e w York.




Very truly yours,
y y

o f# /c )& s> ^

Cashier*

Reproduced from the Unclassified I Declassified Holdings of the National Archives

S A FE D E P O S IT B O X E S FOR R E N T

6162

<f\p>Jtotfitk K a t b m ? d jBscrck,
C H A R L E S C- E V A N S ,

p r e s id e n t

B.D.FREAS,

F. F O W L E D ,

v ic e

p r e s id e n t

Cashier

B e r w ic k , p a
January 1 3 !t1914*
Mr. Sam* 3. Me Cracken,
Chairman of group Three,
Penna. Bankers Association, Wilkes-Barre, Pa.
Dear Sir;
We expect to become a member bank of the new Federal fieserve Act,
and request that a Regional Reserve Bank be located at Philadelphia as the
Resources a n d Business of the National Bankerof P e n n sylvania are close to ten
percent of the total of all the National Banks of the United States outside
of New York City,and Philadelphia has b e e n and is the natural reserve center
for nearly allthe National Banks,State Banks,Savings Banks abd Trust Companys
of Pennsylvania.
If the Regional Reserve Bank for Philad e l p h i a and Pe n n s y l v a n i a d i s ­
trict is loca t ed at Baltimore ar Wa s h i n g t o n , w i t h a bra n c h establishe d at
Philadelphia,
fhe b r a n c h will likely be larger than the parent bank.
Yours very trul




Reproduced from the Unclassified / Declassified Holdings of the National Archives

ABRAHAM S.SC H R O PP, P r e s i d e n t
•J . S . K R A U S E , V i c e - P r e s i d e n t .

NO. 138

W . B . M Y E R S , Ca s h i e r .
TH O S.F. K E I M , A s s ' t

C ash ie r.

3

Eb*$Ttt»i Kathmal Ibmk,
BETH LEHEM , PA,

January 1 3 , 1914.

Mr. Samuel McCracken, Chairman,
Group 3, Penna* Bankers 9
Wilkes Barre, Penna.
M y Dear Sir:
I n reply to your letter of the tenth instant I take great
pleasure in stating that we are most emphatically in favor of hair­
ing Philadelphia appointed as the location for a Regional Reserve
Bank, and to substantiate my assertion in this connection I have
had a n exhaustive memorandum made showing the business which this
institution did with Philadelphia banks during the year 1913.

I am herewith enclosing you a separate memorandum pertain­
ing to said business from which you w i l l note that we sent to three
banking instututiofla cash items amounting to $12,190,239.
Our col­
lection items amounted to several hundred thousand dollars more.
We received from Philadelphia,as per the enclosed state­
ment, cash items amounting to $12,258,759.
These cash items as received were only from our regular correspondents.
In addition to this w e received frequently from Philadel­
phia institutions,not regular correspondents, items for collection
which we estimate at possibly $300,000. to $400,000.
These are made
up of large items w e get from the Kensington. South ark a n d banks of
that nature, the items being of such magnitude that we presume they
do not care to send them through the regular channels but prefer to
send them direct and have a small exchange charge.
Hoping that the above figures may have some weight in the
effort of the Philadelphia Committee to secure for their city the
Regional Reserve Bank, and expressing I am sure not only this insti­
tution's best wishes for their success but the wishes for the other
institutions of our city, I remain,
Respectfully yours,
/ 1

4

r ' V

-

-

~"

5

Cashier.
T




^ ^ ^ C ^ ^ ^ h ^ n d a S te e ^ e d a s s ifie ^ o ld in g ^ n h ^ a tio n a ^ id ^ s

ABRAHAM S.SCHROPP, P r e s i d e n t .
J . S . KRAUSE , V i c e - P r e s i d e n t .
W .B .M Y E R S , C a s h i e r .
T H O S .F .K E IM , A s s ’t C a s h i e r .

o M te t Jfattmrcl Hmk,
B E T H L E H E M , PA.

PB

CB

C or n Exchange

7,518,542.65

2,524,554.22

Market Street

3,136,938.69

898,095.47

First Philadelphia

1,534,758.16

1,535,865.86

Franklin

2,903,078.34

Girard

2,652,434.98

Central

1,014,299.40

Sig ht h

193,682.53

fhird

183,827.59

Phila. Hat.

352.921.55




12,190,239.48

12,258,759.94

treed from the Uncfassffr&dTDeclassified Holdings of the National Archives

T h e S o u t h B e t h l e h e m N a t io n a l B a n k
South B
A dam Br in k e r .

eth leh em

, P

a

.

O s m a n F. R e i n h a r d .
C a s h ie r .

PRESIDENT.

Joseph W. A dams,
VIC E PRESIDENT.




A . J. WELKER,
a s s t

, c a s h ie r '

Reproduced from the Unclassified I Declassified Holdings of the National Archives

6 6 4 .

EDW. CLARKSON,
E. W .

CAPITAL

PRESIDENT

$ 1 1 0 ,0 0 0 ,0 0

SU R PL U S ^ 3 5 0 ,0 0 0 ,0 0

R. A. J A D W 1 N ,

W . H . B R O N S O N . A S S ’T C A S H I E R
F. G . W I N T E R , A U D I T O R

M I L L S . VICE PRESIDENT
2 N D V I C E P R E S T 8t C A S H I E R

C

a

r

b

o

n

d a l e

,

E. B. M I L L S , T E L L E R

Pa.

M a n n a r ? 12. 1914*

lfr» S a m e l K *C ra« 3ten
P e o p le s Bank,

ViUtjpa-Barre. Pa.
S 0» r S i r : -

1&* t e w jrosr letter of 2aanary lOtiu* relative to

the effort being: made to anpport the cl&lme of Philadelphia
£ ar * Regional BeaerfO fimdc a s against the claims o f feu&lsig*

ton and Baltimore*
#o*e two weefca a^o at the request ef foar o r five of

m ? ettrrespondents in Philadelphia, w» wtfote letters o f the
efiareater y o u n o w desire a»d havo had acknowledgments from tho
officers

to whom ear letters favoring Philadelphia were

written.
l « preensue that additional l#*tt«?wi « i « attperfliums,
teWfc gfoall he glad to write further about the m t t e r i f y o u
w l H . advise u s atonoo«




fcitli

Icin&est regards, I renaln.
T o u r s v e r y truly*

luced from the Unclassified I Declassified Holdings of the National Arch ves

ALFR ED PASCOE
P R E S ID E NT ~ ~

C LARENCE

r wta iu tis r

E. S P E N C E R

JA M ES

V
DEPSem
A Nkin
V I/in
C Er D
PR
I DrM
E N<Tr A
D ^
CA
AC
SL
H Jir-.
IER

(ty u tb o n im it

CAPITAL,

M

i n e r s

W a itin g s P a itlt

&

$ 1 0 0 ,0 0 0 .0 0

SU R PLU S,

tyntbonbnU, fn.

H. P A U L

A S S ’T C A S H I E R

$ 3 7 0 ,0 0 0 .0 0

January
ry \13,
z , 1914.

Samuel McCracken, Esq., Chairman,
Group Three,
P e n n s y l v a n i a Bankers A s s fn.,
Dear Sir:In our opinion, it is highly important that P h i l a ­
d e l p h i a should be designated for a Regional Bank under the new
C u r r e n c y Act.
It does not seem p o s s i b l e that a City of the
i m p ortance that Philadelphia is that it could be omit t e d in
the designation of the different reserve locations.
Our business relations with both Washington and
B a l t i m o r e are so limi t e d that we should not feel that we could
take them into consideration at all as compared with our own
C ity.




Trusting you will use your best ehdeavors to

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Form 27-8-12-500

0^w -''7i€ser/ $ )v m e / < 0 $ a /ri/i/
$ /3 £ ,0 0 0 .

J a n uary
Thirteenth,
1914.

Mr. Samuel McCracken,
Chairman, Group 3,
Pennsylvania Bankers Association,
Wilkes-Barre, Pa.
B e a r Sir:
We have your circular letter of 10th instant regarding
the location of a Regional Bank, under the new Currency Act,
in the City of Philadelphia.
As you know ours is a State institution and it is
improbable that we shall apply for membership in the new
National Bank scheme but we are to a considerable extent
interested in the location of a Regional B a n k for the reason
that n early all our exchanges are made through National banks.
The merchants of Carbondale are large buyers in
Philadelphia, in our opinion about 40 % of the goods sold in
Carbondale are purchased in that City. It is a natural trade
centre for this section. Our merchants have little dealings
with Baltimore, M d . and still less with Washington, I). 0.
It would be a great mistake on the part of those who are
locating the Regional Banks to fail to place one in the City
of Philadelphia.
We trust that thi3 may be of service to you in your
endeavor to secure the appointment of one of these banks for
Philadelphia.




V e r y truly yours
(
/

/

...

Reproduced from the Unclassified I Declassified Holdings of the National Archives

T he L e h ig h N a t io n a l Ba n k
OF CATASAUQUA, PA.
C

JAM ES C. B E IT E L , President.
R U F U S M. W IN T , V ice President.

apital

$125,000,

F. B. M A USER , V ice President.

CATASAUQUA, PA„

J. F . M OYER, Cashier.

Jan. 12th, 1914.

Mr. Samuel MoCraoken, Cashier,
People's B a n k ,

Wiljfciefc-Barre, Pa.
M y D e a r Sir:In reply to yours of January 10th I beg to
state that 1 Have already w r i t t e n to the authorities at
W a s h ington as well as to o u r congressman, asking them
to use their influence for a Regional B a n k in the v*ity of
Philadelphia.

Our congressman, the Hon. John H. Bothermel,

assures me that he will do all he can to have this done.
I have also received a reply from the Secretary of the
Reserve Banfc organization committee, stating that my letter
w o u l d receive consideration by the committee in determining
the question.
I trust that the Uocinittee will see the importance
o f e stablishing a regional B a n k in Philadelphia*




Reproduced from the Unclassified I Declassified Holdings of the National Archives

T h e Na tio n a l Ba n k o f Ca ta s a u q u a
EDW IN

THOMAS,

FRANK

PRESIDENT .

CASHIEFt.

H. H. R I E 6 E L ,




M.HORN,

H. V. S W A R T Z ,

Vic e P r e s id e n t .

A s s ' r Ca

Ca t a s a u q u a , P e n n a

January 12th, 1914.

Mr. Samuel McCracken,
Chairman, of Group Three,
Pennsylvania Banters Association,
Wilkes-Barre, Pa.
Dear Sir:Yours of the 10th instant received.
Of course, this Bank would like to see
Philadelphia have a Regional Reserve Bank, as it would
he very much more convenient for us to transact our
business through a Bank in Philadelphia, than it would
he through a Bank in Baltimore or Washington. We have
written to our representatives in Congress, asking their aid
to "bring this to pass* I think there are many reasons, "besides
mere convenience, that would lead us to desire a Regional
Reserve Bank in Philadelphia.
Yours truly,

s h ie r

.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

V ic e

C a s h ie r , R o b e r t D . B a r r o n

Pnm oKNT

P r e s id e n t

D r. H en r y T . T r um baueh

3 ^ .,

Ja n ua r y 12th, 1914.

M r.Samuel McCracken,
C h a i r m a n of G r oup
P e n n * . ,Bankers Assoo.p
Wilkes-Barre, Penna.,
D e a r Sir
W © take the o p p or t un i ty of e x p r es s in g our views o n the
"Regional R es e rv e B a n k 11question, w h i c h we think should be in P h i l a ­
delphia, for the r ea s o n of b e l e i v i n g that our service w o uld be better
b y ha v in g a Re g io n al Bank located at Philadelphia, than irl^ither of
the other two cities. N a me l y W a s h i n g t o n ,0*0, or B a l t i m o r e , M d . ,




R e s p e c t f u l l y yours,

.to y
Pres.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

J O H N J . A IT K E N , P r e s e n t .




TH EO . H . W EI LAND,

ALFRED

V ice P r e s i d e n t .

E. B R E E N , C a s h i e r .

O F D ICKSO N C ITY, PA.

CAPITAL STOCK, $50,000,00.

January 12 1913.

Samuel McCracken, Esq., Cashier,
Peoples Bank,
Wilk ss-Barre,P a .
Dear Sir:We have your'letter of the loth inst and have noted
what y o u say regarding Philadelphia as the city for a
Regional Bank, for this section.
We are inclined to think the principal objecti o n
against Philadelphia is its nearness to New York. However,
when we take into consideration the fact that the New Y o r k
section will u n d o u b t e d l y take in all of the New Englan d
States we think that the enormous capital represented by
member banks would warrant two Regional Banks in this
sectionof the country. After New Yo r k ci$y Philadelphia
is the largest financial center in this

sectiob and we

believe it is the logical city to be appointed.
We wish y o u success in this matter and assure y o u
we should be ve r y glad to be a member of the Regional Bank
of Philadelphia.
Very truly yours,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Sar.i el lie0racket) 3sq.
Cha im i n ,

oup 3 »
¥ilkea B a r r e , Penna*

Dear Sir,
T’
e are in receipt of yours of the 10th. inst. with reference to
the claim of the City of Philadelphia for a Regional Bank*
The President of this Company has written to the Congressman from
this District and also to Mr. Slianbacker of the Fourth Street National Bank

in view of whioh there is little to add to what we have airead y said on
the

su b je c t,




V e r 7 t ru 1y y our s ,

Assistant Treasurer*

pi™™”*”

—^

—

Reproduced from the Unclassified / Declassified Holdings of the National Archives

5 118
CAPITAL

& 100,000.

SURPLUS

$

2 0 0 ,0 0 0

T he N o r t h a m p t o n N a t i o n a l B a n k
E . J . R I C H A R D S , PRESIDENT
W ? J . K U E B L E R , V ic e P r e s i d e n t
J O H N H. N E U M E Y E R , C A S H I E R

E A S T O N ,P A ,

J anuarv-Twelfth
1

9

1

4

.

Kir, Samuel McCracken,
Chairman of Group T h r e e ,
P e n n s y l vania Bankers* Association,
W i l k e s - B a r r e , Pa#
H y dear Hr. HcCraeken:
In response to your let' r of the 10th instant
a s k i n g w h y we w o u l d prefer -Philadelphia j . o Baltimore and Washington
as a Begioral Keservo Bar 1, I would say that Philadelphia now
c lea r s all checks for this district and. is the natural and established financial center, the outgrowth of over a hundred years of
business relations throughout Jiie states of Pennsylvania, Delaware
and Maryland, and E a s t e r n and Srvuthern Hew Jersey.
,

To disturb the channels of trade extending
over so long a period of time,would he like changing the natural
course of one of our m i g h t y rivers and then transferring its tribu­
taries to some other channel and, #j.ile such things are possible,
yet is the cost and confusi on worth the effort?
Philadelphia, while the third city in the Union
in p o int of population, stands second only to lew Y o r k as a finan­
cial and industrial center.
Here was located the first United
States B a n k and here, also, is the home of the first national Bank
under our present system, Mi i e h facts themselves, tell its impor­
tance and have no doubt lent their influence in bringing about its
pre sent superiority over all competitors.
There is no question
that the busine ss
of the Coun t r y south and west of the
H e w Y o r k R e g i o n and east of the Chicago Re| d o n can best be served
h y the selection of Philade1 phi a.

j h h /k




Cashier.

WfLLfAM

H E N R Y

H A C K E T T , PRESfDEIfT

G.

S I E G F R I E D ,

CASHI ER

1 233

[J jte Cisuton

/ V a fiorta i

$ ,a A fo w

,

0 ^ /P /r t/n c t.

January 12, 1914.
CASHIER




Samuel McCracken, Esq.* Chairman of Group Three,
People's Bank of Wilkes-Barre,
Wilkes-Barre, Pa.
D e a r Mr* McCracken:
In reply to yours of January 10th . I

wish to state that at the request of The Fourth
Street National Bank, Philadelphia, I have taken
tip the matter of having Philadelphia appointed

one of the cities for a Regional Bank with our
Congressman, A. Mitchel Palmer, who is a wa r m friend

of mine and who hag written to me assuring me that
he will be present at the m eeting on Friday, January
16th, and urge to the- best of his ability the
appointment of Philadelphia for such a bank*

Phil-

adelphia is the natural clearing house for the banks
of Pennsylvania and we do not think that W a s h i n g t o n ,

£)• C * , or Baltimore would be convenient to the
m a j ori ty of the banks of P e n n sy lva nia excepting
p robably a few in the Southern part.

I trust that

you will be the m a n who will go al o n g w i t h the
Committee from Philadelphia to Washington and with
them urge this appointment.
Trusting that y o u are in yo u r usual good
heal t h and aw a i t i n g with pleasure prospects o f seeing
you iii the n e a r future, I remain
________
Ve r y tr u l y ypupe,

GS:BLH

/

j

VS

~7^_o

^

6

pim m I.u

— -v-.. '

... L. ,

1

1

-

1

1

.

.

<

........

|!" * P [ ^ : ! ^ : ' > > T . ' ^ f t t ^ / : . . ; . '.- -;;.

;r±— -- ,,;■ '---'

SUttKtlW ilBHK

Reproduced from the Unclassified / Declassified Holdings of the National Archives

O l)e Jftrst N a tio n a l 3£ank
TEast Smitl)fiel6, ~peitfuu

January, 13,^03-4

W . R. C A M P B E L L , PRESIDENT
R. W . C H I L D , VlCE -PRE SINE NT
E. G K I N G S L E Y . 2 n d V i c e - P r e s i d e n t
C C. D I C K I N S O N . C a s h i e r




T© The Hon. Federal Reserve Board,
Washington, D.C.
Gentlemen:
We wi s h to s ig nify our preference for
a Federal R e s erve B a n k , to lie e s ta b li s he d in the
C ity of Philadelphia, Pa* R e l i e v i n g that sueh
location w o u l d liest serve our interests*
R e s p e c t f u l l y Yours.

Cashier

( WWW

.... ....................11 .

^

n _.i.li_....uijli... .. ii

Reproduced from the Unclassified I Declassified Holdings of the National Archives




N? 9 1 3 0

J O H N S. R E A D , P R E S T ,

H O R A C E S E A M A N S ,V IC E P R E S T.
J. H. L E W IS , C A S H IE R

W.

Jan. 13 th, 1914

M r . S a m u e 1 M Q C r a c k e n ,C a s h i e r ,
Peoples Bank of Wilkes-Barre,
WiIke a - B a r r e ,P a .
Dear Sir;In answer to yours of the 10th,would say,that
I believe Philadelphia should have a Regional Bank,because
of the central location for the large nuirbar of banks
which it would serve and the large industries of the state
Very truly yours
----

Cashier.

^produced from the Unclassified / Declassified Holdings of the National Archives

B . R . D A V 1S r Cw sW fcR.

' H; C; K O O N S, Presiden t.
W M . a I R K B E C K , vice President.




O.

A.

SH I GO,

A ss't

C ashier.

Jan. 13, 1914.

Mr. Samuel Me Cracken,
Chairman of Group 3,
Penna. Bankers A s s fn.,
Wilkes Barre, Pa.
Dear Sir:
It has been brought to our attention that
Philadelphia is desirous of having a Regional Btperve Bank,
and in order to assist them in having their desires gratified,
I believe it would be to the individual interest of all
Pennsylvania Bankers to assist our brother Philadelphia
Bankers to accomplish this object, as I believe if they are
able to land one of these banks it will revert to our
individual benefit.

Wi t h this end in v i e w I would suggest

as one of the members of Group 3, that you as Chairman of
this Group assist our Phila. Bankers as far as possible in
securing for our State one of these banks , w h i c h I feel on
account of our Banking strength and requirements we are
entitled to.
Hoping that our efforts individually and as a n
As s o c i a t i o n will greatly assist Philadelphia in securing a
Regional Reserve Bank, I am,
Yours very truly,
^
Cashier.

^^^du^^ftwr^h^UnciaSSffi^^^^^Sssifie^Holding^anh^Nationa^rchives

IS T o. 6 1 1 5 .

F ir s t

n lio n a l B a u k
Gapital fully paid $ 15.000.

A. O S W A L D , PRE SI D EN T .
G .S . C H Rl STI AN , VI CE P R ES I DE NT .
J . G . B E L L , CASHIER.
M . J . BO YL E , A S S T . C A S H I E R .
J .M .V IR U S K Y , BOOKKEEPER.

Freeland,Pa.
January 18, 1914#

Mr. Samuel McCracken, Chairman,
Group Three P. B. A.
Wilkes-Barre, Pa.
Dear Sir;-I am in receipt of your letter of the 10th,
in reference to having one of the Regional Banks located
at Philadelphia, and in reply beg to say I have been
d o ing all in my power for Philadelphia#
I certainly think Philadelphia should have
a Regional B a n k and there are many good reasons for such
thinking.
In the first place this bank, as well as a
number of other Pennsylvania Banks with which I am a c q u a i n ­
ted, clears practically all of thier foreign items
through Philadelphia, and to say the least, the same
have b een well taken care of.
Another thing, there are
m a n y more large, and especially small, financial i n s titu­
tions surrounding Philadelphia than Baltimore, and this
in itself should carry weight.
I think the Committee from Philadelphia should
be able to present a very strong argument and sincerely
hope they may be successful in landing a Regional Bank
for their City.
It would not be a bad thing for you
to take the trip with them.




With very kind wishes, I am

Reproduced from the Unclassified / Declassified Holdings of the National Archives

A LV A N

M A R K L E

C . W_

P R E S ID E N T

V IC E

K L IN E

PRES. & T R U S T

C .J . K I R S C H N E R

O FFIC E R

VICE

PRES. & C A S H I E R .

M a r k l e H an k in g & T r u s t C o m p a n y
H
ORIGINAL CHARTER
18 6 7

a z l k t o n

;

Pa.

CAPITAL
$ IQ D , D D D

SU R PLU S
$ 4 0 0 , DDD

J a r n a r y 1 2 t h , 1913,

Mr* Samuel M cC racken,
C h a ir m a n Group T h r e e ,
P e o p l e s Bank,
W ilkes B a r r e , Pa,
My Dear Mr. M c C r a c k e n ; I n r e p l y t o y o u r s o f t h e 1 0 t h i n s t , w ou ld s a y
' t h a t we c e r t a i n l y do f e e l t h a t t h e i n t e r e s t s o f o u r Bank a s w e l l a s t h e
o t h e r B a nk s i n Group T h r e e w o u l d he f a r b e t t e r s e r v e d b y a R e g i o n a l
Bank i n P h i l a d e l p h i a t h a n i n e i t h e r o f t h e c i t i e s o f B a l t i m o r e o r
W a s h in g to n *
T his i s e s p e c i a l l y A case b e ca u se of th e f a c t
t h a t we a r e a S t a t e I n s t i t u t i o n an d h a v e a l w a y s done t h e b u l k o f o u r
b u s i n e s s w i t h P h i l a d e l p h i a Banks w h e re o u r b e s t f r i e n d s o p e r a t e d *
I n a s m u c h a s we h o p e t o be a b l e t o j o i n t h e
F e d e ra l Reserve A s s o c ia tio n ,

e v e n t h o u g h we a r e a S t a t e I n s t i t u t i o n ,

we s i n c e r e l y t r u s t t h a t P h i l a d e l p h i a w i l l be s e l e c t e d a s one o f t h e
c i t i e s h a v i n g a R e g i o n a l Bank.




Y ou rs v e r y t r u l y ,
M a r k l e B a n k i n g & T r u s t Co,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

A .W . D R A K E ,

C . C . H E L L E R , Vi c e - P r e s i d e n t

Pr e sid e n t

H A R R Y OLEWI N E,

M .G . SH E N N A N ,T r e a s u r e r

S ecretary

C A P IT A L A N D

S U R P L U S

$ 1 5 0 ,0 0 0 .0 0

Januury 13 th ,

19X4.

Mr. Samuel McCracken. Chairman,
Group 3, Ponna. Bankers A ssn .,
W ilkes-Barre, Penna.
Dear Mr. McCracken:As a member o f Group 3, we d esire to go on record
in favor o f the appointment o f Philadelphia fo r a regional
reserve Bank.

On examination o f our b usin ess, i t develops

that we get flO . fo r exchange on Philadelphia fo r every d o lla r
on New York or any other p oin t, and as a c o lle c tio n cen ter, our
P hiladelphia Banks handle w ith s a tis fa c tio n the bulk o f our bus­
in e s s .

There can be no doubt that Philadelphia would be much

more s a tis fa c to r y as a reserve c it y to th is region than any other
point could p o ssib ly be, and we tr u st you w i l l use your b est e f ­
f o r ts to a id the P hiladelphia Bankers, and you have oar au thority
to UBe th is l e t t e r in any way you may see f^ t.




With b est regards, I am.
Very tr u ly yours,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

C A P IT A L

$ 5 0 ,0 0 0

S U R P L U S $ 1 0 ,0 0 0

T he Ha w ley Bank
HAWLEY. PENNA

Ma n g a n

vice

p resid en t.

J a n u a r y l g 1914

W a l t er j . k e e s l e r

Ca s h i e r , c h a s . s . H ou ck

Mr. Samuel Mc Cracken, C a s n i e r ,
P e o p l e s Bank,
Wi I k e s - B a r r e , P a .
Dear s i r : As r e q u e s t e d i n y o u r l e t t e r o f t h e IQ'1 we a r e
e n c l o s i n g a l e t t e r t o you u r g i n g t h e c l a i m s o f P h i l a d e l ­
p h i a a s .a r e g i o n a l r e s e r v e . We h a v e a l r e a d y w r i t t e n Mr.
McAdoo a s r e q u e s t e d by o u r c o r r e p p o n d e n t i n P h i l a d e l p h i a
a n a i f y ou c o n s i d e r t h a t s u f f i c i e n t you n e e d n o t u s e t h e
enclosed*
Very t r v l b ^ y o u r s ,




/J

C ashier.

foduced from the Unclassified / Declassified Holdings of the National Archives

CAPI TAL.

*80.000

SURPLUS * 1 0 , 0 0 0

T h e H a w l e y Ba n k
HAWLEY, PENNA.

PR E S ID E N T, T H O M A S F . M A N O A N

V IC K P R E S ID E N T , W A L T E R

J. KE ESLE R

Ja n u a ry 1 £, 1914-

C a s h ie r , C h a s . S. H o u c k

Mr . Samu.el MeC r a c k e n ,
' Ch a ir m an Gro\.ip 3> Penn*a B a n k e r s A s s n ,
W ilk e s -B a rre , Pa.
Dear s i r : We m o s t h e a r t i l y commend t h e e f f o r t s o f t h e b a n k ­
e r s a n d b u s i n e s s men o f P h i l a d e l p h i a a n d t h e t e r r i t o r y a d ­
j a c e n t t h e r e t o i n t h e i r e f f o r t s to p ro c u re f o r the C ity a
R e g i o n a l R e s e r v e Bank u n d e r t h e new c u r r e n c y a n d b a n k i n g
a c t . Though n o t a q u e s t i o n o f s e n t i m e n t , we c a n n o t e n t i r e ­
l y ig n o r e th e f a c t t h a t P h i l a d e l p h i a f i n a n c e s and f i n a n ­
c i e r s have borne a p ro m in e n t p a r t i n th e developm ent of
t h i s countfcry b o t h p r i o r t o , a n d s i n c e ,

the e s ta b lis h m e n t

o f t h e p r e s e n t U n i t e d S t a t e s G o v e r n m e n t. R e s p e c t i n g t o t a l
banking a s s e t s i t

s t a n d s t h i r d - s e c o n d i f we i n c l u d e i t s

l a r g e T r u s t Fund a nd t h i r d i n p o i n t o f p o p u l a t i o n . S i n c e
liew Y ork C i t y p u t i n t o e f f e c t t h e c o l l e c t i o n c h a r g e on o u t
o f town i t e m s t h i s b u s i n e s s f o u n d a n a t u r a l o u t l e t t h r o u g h
P h i l a d e l p h i a which h a s h a n d le d i t

i n a most s a t i s f a c t o r y

m a n n e r , and w i t h l i b e r a l i t y a s w e l l . To d i v e r t t h i s t o
o t h e r s o u r c e s would r e s u l t i n d i s r u p t i n g i t s p r e s e n t a g r e e ­
a b l e a n d n a t u r a l f l o w a n d c a u s e raueh i n c o n v e n i e n c e t o t h o s e
b a n k s w h i c h now h a n d l e t h e i r b u s i n e s s t h r o u g h t h a t C i t y . Q u i t e
n a t u r a l l y o t h e r c i t i e s a r e u r g i n g t h e i r c l a i m s w i t h much
v i g o r a n d d o u b t l e s s t h e C ommittee w i l l f i n d t h e q u e s t i o n o f
l o c a t i n g th e s e v e r a l banks a d i f f i c u l t problem to s o lv e w ith
s a t i s f a c t i o n to a l l ,




b u t we b e l i e v e t h a t i f i t w i l l c o n s i d e r

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C A P IT A L

9 5 0 ,0 0 0

S U R P L U S $ 1 0 ,0 0 0

T he Haw ley bank
HAWLEY. PENNA.

presid en t,

T ho mas f . ma nga n

vice presiden t,

W a l t er j . Ke e s l e r

Oj

x

fr

\j

c.

CASHIER, CHAS. S. HOUCK

t h e cii.storc.ary c o u r s e o f t h i s c l a s s o f b u s i n e s s t o g e t h e r
w ith

one s i t u a t i o n o f H i i l a d ^ l p h i a g e o g r a p h i c a l l y , f i n a n ­

c i a l l y a n d i n p o i n t o f p a s t e x p e r i e n c e i n l)an]d.nL< and f i ­
n a n c e t n e y m u st w e i g h v e r y h e a v i l y i n i t s f a v o r .




L X U - ._ . 5B —

BgW —

H W

B W

W

jg W

W

P W

■ " W

P IW

il—

P —

—

—

II lln l nil l i I111 nil I

i

I

n

'in

i

i

n

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Mr. Samuel McCracken, C h a i r m a n ,
Group I I I , P e n n s y l v a n i a B a n k e r s A s s o c i a t i o n ,
W ilkes B a r r e , P e n n s y l v a n ia ,
D e a r Mr. M 6Cracken:~
I h a v e y o u r l e t t e r a n e n t t h e movement
i n f a v o r o f a P h i l a d e l p h i a R e g i o n a l R e s r v e B a nk . G e o g r a p h i c a l l y
we b e l o n g t o New York C i t y a n d p r e f e r t o "be a t t a c h e d t o t h a t
c i t y . Of c o u r s e we s h a l l be v e r y g l a d t o s e e P h i l a d e l p h i a
g i v e n one o f t h e s e b a n k s a n d b e l i e v e t h a t i t s b u s i n e s s e n t i t l e s
it

t o one b e f o r e e i t h e r B a l t i m o r e o r Washin




Reproduced from the Unclassified / Declassified Holdings of the National Archives

f&ftU&l McCracken, Esq.,
Chairman Group Three, Penn. Bankers Association,
Wilkes Barre, Pa.
Dear Sir:~
We are in receipt of your letter of the 10th. inst.,
and replying beg to state that we have already gone on record
as favoring the selection of Philadelphia for one of the Reserve
Banks*
As we understand,one of the functions of the Reserve
Bank, is the collection of fos&gn items, and we don't believe
there is any City in the United States whose Bankers could be as
valuable as Philadelphia in the solution of that problem.

A Re­

serve Bank located there, would be given the beifeifc of their ex­
perience, and transit systems,and we all know its going to be some
job for the Reserve Bank: to handle that business.




Very sincerely yours,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

W a y n e Co u n t y S a v i n g s B a n k
W. B. H O L M E S , PRESIDENT.
A . T . S E A R L E , vice p re s i d e n t
H. S . S A L M O N , c a s h i e r .
W. J. W A R D , ASST CASHIER

H o n e s d a l e , Pa „

J a n u a r y 1 2 n1914*
Sa muel M c C r a c k e n , C h a i r m a n ,
Group 3 Penna* B a n k e r s A s s ' n .
W ilkesB arre,Pa*
My D e ar Mr. McCracken
I beg t o acknowledge
r e c e i p t o f your c i r c u l a r l e t t e r of the 1 0 th i n s t .
and i n r e p l y beg t o in fo rm you t h a t a t th e r e q u e s t
of s e v e r a l of our P h ila d e lp h ia c o rresp o n d en ts I
h a v e a l r e a d y w r i t t e n a l e t t e r t o t h e Hon* Wm. G.
M cA doo,Secretary o f th e T re a s u ry , w ith r e f e r e n c e
to the s u b je c t of your l e t t e r .
I have endeavored to condense
l e t t e r to
Mr. McAdoo a s much a s p o s s i b l e a n d t a k e p l e a s u r e
i n g i v i n g y ou dopy o f i t s p r i n c i p a l p o i n t s
TT I d e s i r e t o c a l l y o u r a t t e n t i o n t o t h e a d v i s a b i l i t y
o f l o c a t i n g one o f t h e F e d e r a l R e s e r v e Banks i n t h e
c ity of P h ilad elp h ia.
I t w o u ld seem a s i f t h e me­
t r o p o l i s o f t h e g r e a t S t a t e o f P e n n s y l v a n i a was e n t i t l e d
t o t h i s a nd t h a t h e r c l a i m s a r e so c l e a r a s n o t t o
r e q u i r e any arg u m en t. P h i l a d e l p h i a h a s alw ays been
noted as a c i t y of co n serv atism .
She i s t h e t h i r d
l a r g e s t o f o u r c i t i e s and i s o n l y o u t r a n k e d i n B a n k ­
i n g R e s o u r c e s a n d D e p o s i t s by Hew Y o r k a n d C h i c a g o .
We h a ve a l w a y s f o u n d i t t o o u r a d v a n t a g e t o k e e p
p a r t o f o u r r e s e r v e s i n t h a t c i t y . IT
T r u s t i n g th e above w i l l se rv e y o u r p u r p o s e .
W it h k i n d r e g a r d s a n d w i s h i n g y o u a P r o s p e r o u s
Hew Y e a r , I am




Very t r u l y y o u r s ,

C ashier.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Mr. Samuel McCracken, C a s h i e r
P e o p l e s Bank o f W i l k e s B a r r e ,
W ilkes B a rre , P a .
My d e a r Mr. Mc Crac ken:
I am i n r e c e i p t o f y o u r f a v o r o f J a n u a r y t e n t h i n
r e f e r e n c e t o an e x p r e s s i o n o f o p i n i o n o f members c o m p r i s ­
i n g Group 3 P e n n s y l v a n i a B a n t e r s * A s s o c i a t i o n ,

in regard

t o t h e d e s i g n a t i o n o f P h i l a d e l p h i a a s a p l a c e f o r a Region­
a l R e s e r v e Bank,

and,

i n r e p l y w o uld s a y t h a t I have a l ­

r e a d y w r i t t e n l e t t e r s t o S e c r e t a r y lie Ado o and t o t h e Con­
g r e s s m a n f r o m o ur D i s t r i c t ,
of P h ilad elp h ia,

recom mending t h e a p p o i n t m e n t

and c a l l i n g a t t e n t i o n to her c la im s ,

and have g i v e n my r e a s o n s .

I th in k th at th is reference

t o t h e m a t t e r w i l l be s u f f i c i e n t .

However,

s i r e a s e p a r a te l e t t e r to t h a t e f f e c t ,

I s h a l l be g l a d

to w rite one.




i f you d e ­

Y o u rs v e r y t r u l y ,

^^^^^^^^^TOr^h^SSfe^^da^ifie^olding^nh^ationa^rchives

CAPITAL

$50,000.

FIRST N A TIO N A L BANK
MESHOPPEN,
C.G . B R O W N , P r

e s id e n t

PA.

J N O . B . J E N N I N G S , VICE PR E S .

J . G . H A H N , Ca s h

ie r

e.shop p o n , P a . J an 1 2 t h 1914 .

S a n u e l McCracken, ^ s q . , C a s h i e r ,
P e o p l e s Ban k,
“i l k e s B a rrs,

Pa.

Dear ; j i r : In resp o n se
w ritten

to y o u r f a v o r o f 1 0 t h w i l l

say t h a t , we h a v e a l r e a d y

t o t h e Hon . Wi . I). B . A i n e y , o u r c o n g r e s s m a n , H o n . B o i e s P e n r o s e

a n d Hon. Y/rn ,I;Io A d o o , e x p r e s s i n g . ! ; o u r s e l v e s

stro n g ly

in favor of P h ila d e lp h ia

a s a l o c a t i o n f o r one o f t h e R e g io n a l B anks.
Those l e t t e r s

they have a l l

a c k n o w l e d g e d a n d i t w o u l d seem t h a £
superfluous.
a n y f u r t h e r c o m u n i c a t i o n s f r o m u s w o u l d be
H owev er o u r n r e f e r e n c e i s f o r P h i l a d e l p h i a .




Reproduced from the Unclassified / Declassified Holdings of the National Archives

J.

C. SCHAAD

CAPITAL $ 2 5 ,0 0 0

NO. 9 5 5 2

PRESIDENT

G.

SAFE

M. W H IP P L E
VICE

ARTHUR

D E P O S IT

BOXES

FO R

RENT

PRESIDENT

M IN E R

T

CASHIER

h

F

e

i

r

s

N

t

M

a

t

i

il d r e d

o

n

a

l

B

a

n

k

, Pa.

January 13th,1914.
Mr. Samuel McCracken,
Chairman Group Three,
Wilkes Barre, Pa
Dear Mr* McCracken:«
Since our organisation

our 'business

has "been carried on through the Philadelphia banks,We have
received at all times prompt and courteous treatment.
Philadelphia,of all the large cities,has been the
only one to grant the free collection of our out-of-town
chocks and its policy in other respects has been broad
and liberal.
Our relations,which have been established have
proved satisfactory and advantageous.
The City occupies third place both in bank
Resources and in total deposits,and we think is certainly
entitled to have a Federal Bank located there.
If one is not located there our reserves will
in time have to placed in other cities.causing confusion
and inconvenience.

Therefore we respectfully urge the

committee^choose Philadelphia as a city for the location
of a Federal Reserve Bank*




Yours v

Cashier*

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Th

e

Fa r m
M

ers

Na t i o n a l B a n k

o o t r o s k
W A .T

,P

a ..

IT S W O R T H

,V ic e - P r e s 'l.

C .F .P r o S S , C ashier.

M

o n t r o

b k , P a .Jan .lE t 1914

Mr* Samuel McCracken, C ashier,
Peoples Bank, ^ ilk e s Barre, Pa*
Bear S ir
Replying to yours o f the 10th in st* regarding
the question o f the lo c a tio n o f a fe d e r a l

reserve "bank

at P h ilad elp h ia has b e e n received and we beg to advise
you th at we would consider i t very unfortunate for th is
state^ i f P hiladelphia should not secure one o f th e o r ig in a l
reserve banks*

We have already w ritten a personal l e t t e r

to th e Secretary o f the

Treasury

s ta tin g our p o s itio n in

the matter and stand ready to a ct in any way to a s s is t
in securing the same*

I f the Committee o f Group 3 decide

on any a c tio n in which we can take part k ind ly have them
advise us and we w ill be glad to co-operate w ith them*




f

Yours very tr u ly ,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

E S T A B L IS H E D

1875.

Jan. 13 1914
Sam’
l McCracken Isq
Chairman Group 3 Penn'a Bankers Assoc.
Wilkes-Barre Penn*a
Dear sir:Antfwering your letter of the 10th inst. I wish
to say that we are heartily in favor of the establishment of
a Begional Reserve Bank In Philadelphia , and you hare our
warrant to so state our position in regard to the matter, and
to employ such means as you may "be able to make the seconding
of Philadelphia1s application strong and unmistakeable.
We think the position that Philadelphia has occupied as a reserve
city to such a large extent, and the very large business interests
of th

city Itself and the state and other sections naturally

tributary to it ought to count in its favor—

and even the con­

tention that it is near New York might be construed in its favor
as the two could co-ordinate when necessary with facility.
This is important to be considered in connection with the unfierstood
position of the Committee, not to support New Y o r k ’
s claim that they
should be given larger share than any other regional bank in re­
serves to accommodate the needs of their section. We are glad that
you are interesting yourself as our presiding officer in this matter
I have submitted this matter to our stockholders 1 meeting to-day,
and this position was assented to without the formality of a vote.
Wishi g the enterprise success, I am, Very truly




Reproduced from the Unclassified / Declassified Holdings of the National Archives




JO H N SM O U LTER, President.

H.D.FLANAGAN, Cashier.

BRINTON JACKSON,Vice-President.

of

N a n t h i o k e , Pa .
S u h p l u Si $ 3 0 0 , 0 0 0 .

Ca p i t a l $ 1 0 0 , 0 0 0 .

N a n t h ,o k i:,P a .

Jan.

13,

191

Mr, Samuel McCracken
Chairman Group 3» Pennaylvania Bankers Assn.,
Wilkes-Barre, Pa,
Dear Sir
Regarding the location of a regional reserve
bank, we beg to advise that there is not mubh difference
in mail facilities as between New York and Philadelphia,
but we most assuredly do not want to be joined to either
Baltimore or Washington as they are outside of this dis­
trict as to mail facilities, as to general trade business,
as well as in other respects; while as respects Philadel­
phia, the banking business, general merchandise and general
corporate affairs are very closely allied to this section
and a quite {renerml rrciproca ‘1 knowledge of the conditions
and needs of each section e::_ists which has brought about *
a personal friendship and close understanding between the
people of Philadelphia and this section.
Yours very truly
'//;vv/.' y-/
HDF/jffiY;

/
/

Reproduced from the Unclassified I Declassified Holdings of the National Archives

8973

T he F i r s t N a t i o n a l B a n k
OF

N ew A l b a n y , P a .

CDW

January 12th, 1914.

Samuel McCracken, Esq., Chairman,
Group 3, Penna. Bankers Association,
Wilkes-Barre, Pennsylvania,
Dear SirsWe most heartily favor the establishment of a
Regional Heserve Bank in Philadelphia.
Merely as a matter of service to the banks in
this and the neighboring districts of the State^ we believe
that the city is entitled to such consideration. We can
reach Philadelphia by mail in from one to two days less time
than either New York, Baltimore, Washington o f Pittsburgh.
It is the logical point for us to look for our reserve cor­
respondents not only becanse t>f its geographical situation,
but also from the fact that the city occupies third place
in banking resources in the United States, and has always been
identified intimately with the banking history of the nation,
occupying as it once did, foremost place financially.
The logical point for our business were Philadelphia
not designated for a Regional Reserve Bank, would be New
York instead of the other three cities mentioned.

We cannot,

however, find any good and sufficient reason for not giving
a Regional Reserve Bank to Philadelphia under the circumstances.




..
Reproduced from the Unclassified I Declassified Holdings of the National Archives

8973

T h e First N a t i o n a l B a n k
OF

New A lb a n y , Pa.

Samuel McCracken, E s q . , C h m .- 2 .

W© h e a r t i l y w i s h y o u r c o m m i t t e e s u c c e s s i n t h e m a t t e r ,
and we a r e




Yours v e r y t r u l y ,
THE FIRST NATIONAL BANK OF NEW ALBANY, P a .

C ashier.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

W.

2<To. 89SO

H . fin g le g , p r» s i6 tn t

Vj SB. Bati®olt, Blct^Jres.
(K. 30. Sagion, B it e ^ t e s .

» . 3 . ffieve,

f i l e G range N a tio n a l B a n k
O P

S T T S Q T T B S r ^ -a T a iT ^ . C O T T iT T 'S"

leio IKiUotftt !*»♦
Jan.13,1914,
Samuel McCracken,>:sq.,
Chairman of Group Three,
Pennsylvania Bankers Association-,
Wilkes-B arre,P a .
Dear Sir
Yours with,reference to location of Regional
Reserve Bank,is at hand,and we beg to state that it is
our belief that one of them shoiild be located at Phila­
delphia* P a . ,for the reason,as we believe,that it can be
a greaterservice to a greater number of member banks than
either Washington,D•C . ,Baltimore,Md.,or any of the other
Cities that might be eligible,not excepting MMew York".
We hold this conviction from the fact that the Banks
of Philadelphia have for many years rendered our country
banks greater service,in the line of collections at par,
as well as general service,than any city of which we have
knowledge.
We think that the long established and liberal service
rendered to a very large clientele of banks by the banks
of the City of Philadelphia have made this City especially
adaptable for one of the 11Clearinghouse”,or 11Regional Bank1*
centres.
We trust that you will use whatever influence you
may to bring about the designation o f the City of Phila­
delphia as one of the locations of Regional Reserve Bank*
Very truly yoiirs.
a
^ /T
Caslller*




Reproduced from the Unclassified / Declassified Holdings of the National Archives

«$?'Jk.
'V'ice

fftm /i/u l a n r/ ?/n r/io ifU r/ fjr o fit.i $4<4-0,000
Jfa rtA a m /itm i, & a ., 1/13/14.

Mr. Samuel McCracken,
Chairman of Group Three,
Wilkes-Barre,

Pa.,

Bear Sir: Referring to yours of 10th inst. regarding the appoint­
ment of Philadelphia as a regional reserve ccentree in preference to
Baltimore or Washington would state that on account of the unique
position Philad*a enjoys in being one of the largest financial and
commercial cities in the country,.its geographical location and con­
sequent advantages as a clearing point, should prove strong arguments
in favor of Philad*a "being entitled to a Regional Reserve Bank.
We "believe the diversified interests of the country can be best served
by a broadened capital, and the proper distribution to the large busi­
ness centres.
W also believe the appointment of Baltimore or Washington in prefer­

ence to Philad*a would tend to strenghten the position of New Ybrk.,
which cannot tevoid becoming a strong financial centre on account of its
natural facilities*
We trust yourQSmmitte will succeed in impressing the Federal Reserve
Board with the necessity of a Regional Reserve Bank for this section.




Cit

F ra n k
FREb

J .W i

izen s

Ba

n k

j . s c o u t o n , p re s id e n t.
N .C h a s e ,v ic e -p re s id e n t.

lliam

W a ll, cash

P

er.

a

r

s

o

n

s

, P

a

.

J

m

i

Mr Samuel McCracken.
Chairm an o f Group T h r e e
Y/i 1 kes , B a r r e , P a .
Dear S i r ; Your f a v o r o f t h e 1 0 t h a t h a n d , and i n c o n n e c t i o n
t h e r e w i t h d e s i r e t o a d v i s e t h a t we would g r e a t l y jD refe r t o s e e
P h i l a d e l p h i a s e l e c t e d a s t h e C i t y f o r a R e g i o n a l Bank , b e c a u s e
of i t s

im portance as a c o l l e c t i o n

c e n t e r , and o f i t s

i n t h e B a n k in g W o rld .




Very t r u l y y o u r s
L'ii sh i. i,px*

standing

r

Reproduced from the Unclassified / Declassified Holdings of the National Archives

J . D. P E C K , P r e s i d e n t
F . H. H E M E L R IG H T , V i c e - P r e s i d e n t

No 7785

in o - / / 0

°

CAPITAL, $50,000

H . N. B A R R E T T , C A S H I E R

3

b? Jferktrilk National Sank
Vnkiittl*. fa., I**I2~I4

Mr#Samuel McCracken,Cashier,
Chairman of Group Three,
Wilke s-Barre,Penna *
Dear Sir;-

In reply to yours of IOth*inst*as to what city a Regioaal

Bank would "best serve us and this section,I unhesitatingly say that
Philadelphia,in my judgment,would be best for us.
I hope and trust that the Committee from Group Thr»« with
the efforts that our Philadelphia Bankers are putting forth will be
successful in persuading the Government,at Washington,D*C.tto place one
of the Regional Banks at Philadelphia,I am




Very truly yours,

from the

U n c la s s if ie d

/ Declassified Holdings of the National Archives

Plead Philadelphia’s Cause.
S tro n g a r g u m e n ts \\’hv th is c ity sh ould
b e se le c te d a s o ne of th e re s e rv e c e n ­
te r s a r e c o n ta in e d in th e le tte r s being
s e n t b y b a n k e r s in n e ig h b o rin g to w n s to
th e officials a t W a s h in g to n . ' E x tr a c ts
fro m so m e o f th e s e le tte r s a r e of m o re
t h a n p a s s in g in te re s t.
W illia m II. O yer, c a s h ie r o f th e P e n
A rg y l N a tio n a l B a n k , P e n A rg y l, P a .,
w rite s : “ T h is c ity (P h ila d e lp h ia ) h a s
lo n g p ro v e n its e lf to be th e n a tu r a l
re s e rv e c ity fo r a ll o f th e b a n k s in th is
reg io n . T h e y co lle c t a t le a s t n in e ty p e r
cen t, of o u r o u t-^ f-to w n c o llectio n s a n d
w e b eliev e th e
ded a d v a n ta g e s th is
c ity p o sse s se s
.d m a k e it e m in e n tly
fitted fo r a re s e rv e b an k . ”
I




Reproduced from the Unclassified I Declassified Holdings of the National Archives

N O .7 7 1 0

J . H . W E R N E R , PRESIDENT
J O H N S . J A C K S O N , VICE p r e s t .
W ILLIAM

H . O V E R , c a s h ie r

, X <X.

J*m. l ? t 1914

IkesPnrrr, Pa.

Dear Sir:*
1 hav# ilfidl fflttfu to t " * Rrs^rve B**nk
O t*f*i!is**tl®B C #m altt#r F »eet«ffl«i(| iisg F%ll*dMrlpM<t

fo r

% fctervt B*nk.




Kncldsed find clipping from P M la lr lp M * Press

« ip r e s $ fs #tjr
¥©«*• t r o ly ,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Jo se p h

C .R e a p ,pres.

W illia m

W .L .F o s te r,

P

L. F o s t e r , vice

p r e s

.

C ashier.

ittston

,Pa .

^aaaarf IB, 1914#

Mr. Samuel Me C r a o k e n , C h a i r m a n ,
Group Three, P e n n s y l v a n i a 3 t a t e B a n k e r s A s s o . ,
Bear S i n *
As member of the Pennsylvania state Bank©re Association
and a le e of Grsup 3 t we are very much in favor of having the
City of Philadelphia m a e d for a Regional Basic.
We carry on an average of $ 125f000#00 in Philadelphia Banks*
and have never found them wanting when called on for financial aid#
We feel that the federal R eserve Beard a m hardly do otherwise
than name Philadelphia as a Reserve City, knowing the financial
worth of Its combined hanks and better still the combined capital
and standing of the hanks that they serve so well#
We are glad to assist at any time in promoting the claims of
Philadelphia.




Very truly yours#

Reproduced from the Unclassified I Declassified Holdings of the National Archives

N? 707

EDWIN

D A V E N P O R T tPREST.
A.K.DE

HEN.pY

LEES,VICE PREST.

//m ra ,

J a n . 1 2 '1 4

WITT, C A S H I E R .

Mr. Samuel McCracKen, A s s t . C a s h i e r ,
P e o p l e s Bank,
W i l K e s - B a r r e , Pa.
De ar S i r :
In r e p l y to y o u r s o f th e 1 0 th i n s t . would sa y ,
t h a t a s h o r t w h i l e ago we e x p r e s s e d o u r v i e w s i n t h e
m a t t e r t o t h e F o u r t h S t r e e t N a t i o n a l BanK o f P h i l a d e l p h i a ,
w h i c h was f a v o r a b l e t o a p p o i n t i n g t h a t c i t y one o f t h e
F e d e r a l R e s e r v e C i t i e s . A l s o a t t h e i r r e q u e s t we w r o t e
t h e S e c r e t a r y o f t h e T r e a s u r y a t W a s h i n g t o n recom m ending
P h i l a d e l p h i a t o h i s c o n s i d e r a t i o n and p o i n t i n g ou t th e
a d v a n t a g e s t h a t c i t y p o s s e s s e d o v e r some o f i t s n e a r
s i s t e r C i t i e s , who a r e s e e k i n g t h e d e s i g n a t i o n .




Reproduced from the Unclassified I Declassified Holdings of the National Archives

M. L.

P e r r in ,

President.

A. C.

S h o em aker,

Vice President.

W. H.

PEOPLES

M cM illan,

UNION

Cashier.

T. F.

S A V I N G S B A NK

OF P IT T S T O N , PA.

M ullin,

2

NORTH

MAIN

STREET

A ssistant Cashier.

Jan. 13, 1914.

Samuel McCracken,
Chairman of Group Three.,
Wilkes-Barre Pa.
Dear Sir:I understand that on Friday,Jan. 16th , a committee
of Penna. Bankers will visit Washington in the interest of
the City of Philadelphia for a Eegional Bank*

1 wish to add our influence in the interest of
Philadelphia, which City appeals to us, first
in our own State anfl

"because it is

second "because we find that most of our

business with out side banks is done through

Philadelphia

and their service has been very satisfactory. In many respects,
we get better service thak

Hew York affords.

The distance from wither City is practically the same
but we fihd

.that our business grows in the direction of

Philadelphia and I am glad to add this




in their behalf.

With best wishes, I am,
Very truly yours,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

5666
6 0 -6 3 8

FIRST NATIONAL BANK
SAYRE, PA.
W . A. W I L B U R ,

Pre siben t

R . F . P A S E , Ca s h i e r

W .T . SOODNOW, V ice P p e s i . ent
H. L. B O L IC H , V,cE P * * s ,c ent

S a y r e , P a . J a n u a r y 1 3 t h . ,1 9 1 4

Mr. Samuel Me C r a c k e n , Chairm an o f Group T h r e e ,
P e n n sy lv a n ia Bankers A s s o c ia tio n ,
W il k e s B a r r e , P a .
S ir,-

In c o n n e c t i o n w i t h t h e p l a c i n g o f t h e R e g i o n a l Bank f o r

t h i s d i s t r i c t b y t h e O r g a n i z a t i o n Committee o r t h e F e d e r a l R e s e r v e
Board,

I beg t o s a y t h a t we would p r e f e r by a l l means t o be e i t h e r

i n t h e New York o r P h i l a d e l p h i a d i s t r i c t .

New York b e i n g o u r f i r s t

c h o i c e and P h i l a d e l p h i a n e x t .
We s h o u l d u n d e r no c i r c u m s t a n c e s l i k e

t o be o b l i g e d to be c o n n e c t ­

ed w i t h a R e g i o n a l Bank a t B o s t o n , B a l t i m o r e o r W a s h i n g t o n ,

as t h e

t r a n s p o r t a t i o n o f t h e m a i l s w i t h t h e s e p o i n t s i s n o t t o be compa red
w ith the f a c i l i t i e s

t o and from New

York and P h i l a d e l p h i a .

We b e l i e v e t h a t P h i l a d e l p h i a s h o u l d h a v e a R e g i o n a l Bank, b u t
t h a t thivs end o f P e n n s y l v a n i a s h o u l d be i n t h e New York s e c t i o n .




V e ry t r u l y y o u rs,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

L. W . DORSETT, Cashier
F. E. LYFORD, President
W . R. RAYMOND, Vice President




p p FINCH, Assistant Cashier
NO- 5684

^3>zti£)x£t

J a n • Xh ,19 14<

**r Samuel M cC rack en,
C ha ir m an o f 3-roup T h r e e ,
P e n n s y lv a n ia Bankers Assoc.
Bear S i r ;
R e g a r d i n g a R e g i o n a l Bank i n t h e ~ i $ y o f
P h ilad elp h ia;
I f e e l t h a t a c i t y o f t h e s i z e and i m p o r t a n c e
o f P h i l a d e l p h i a , " b o t h f i n a c i a l l y and a s t o p o p u l a t i o n
s h o u l d no j a l l raeans h a v e a R e g i o n a l Bank,
P h i l a d e l p h i a h a s f o r a num ber o f y e a r s "been
h a n d l i n g t h e " b u sin e ss o f c o u n t r y h a n k e » s t h a t a p p a r e n t l y
l e w York S i d n o t w a n t , ancl now t h a t t h e y a r e a s k i n g f o r
some l i t t l e

h e l p from u s i n t h e way o f i n f u l e n c e , ! f e e l

t h a t we s h o u l d come t o t h e i r a s s i s t a n c e .
I know t h a t t h e i n t e r e s t s o f t h e h a n k e r s i n t h i s
s e c t i o n TTOTild he a g r e a t d e a l b e t t e r s e r v e d “by h a v i n g t h i s
hank i n P h i l a d e l p h i a , t h a n eithpfr i n B altim o re o r W ashington.
The r e s t r i c t i o n s t h a t a r e t o he p l a c e d u p o n u s a r e
so many t h a t we s h o u l d a t l e a s t h a v e some l i t t l e
a t i o n a s t o t h e l o c a t i o n o f §cfc±E2s * t h i s Bank,
Yours v e r y t r u l y ,

O ashier.

consider­

Reproduced from the Unclassified / Declassified Holdings of the National Archives

S c r a n t o n , P a . # January 1 4 , 1 9 1 4 .
To

Hon. W i l l i a m G« McAdoo, Chairman,
O r g a n i z a t i o n Co mmi t t e e , R e g i o n a l R e s e r v e Banks ,
W a s h i n g t o n ,
D. C.
Sir:
The u n d e r s i g n e d Co mmi t t e e ,

r e p r e s e n t i n g t h e Scranton

C l e a r i n g House o f t h e C i t y o f S c r a n t o n ,

beg t o

submi t h e r e w i t h

a R e s o l u t i o n u n a n i mo u s l y p a s s e d a t a m e e t i n g o f s a i d C l e a r i n g
House

held t h i s day,

J anuar y 1 4 t h , 1 9 1 4 ;

said R e s o l u t i o n being

as f o ll o w s :
"RESOLVED, That i n t h e unani mous o p i n i o n o f t h e
C l e a r i n g House o f S c r a n t o n , t h e c o n v e n i e n c e and c u s t o ma r y
c o u r s e o f b u s i n e s s o f S c r a n t o n woul d be b e s t s e r v e d and
l e s s i n t e r f e r e d w i t h through t h e i n c l u s i o n of Scranton
in th e region al reserve d i s t r i c t t r ib u t a r y to the City
o f New York, but i f S t a t e l i n e s a r e t o be r e g a r d e d , t h e n
t h e C l e a r i n g House would u n h e s i t a t i n g l y and u n q u a l i f i e d l y
favor P h ila d e lp h ia ."

Your Commi t tee woul d f u r t h e r submi t t h a t t h e p r o v i ­
s i o n s o f t h e A c t , namel y "That t h e D i s t r i c t

s h a l l be a p p o r t i o n e d

w i t h due r e g a r d t o t h e c o n v e n i e n c e and c u s t o ma r y c o u r s e o f
business" c le a r ly

j u s t i f i e s the request

of th e Scranton C l e a r ­

i n g House t h a t S c r a n t o n s h a l l be i n c l u d e d i n t h e D i s t r i c t
s u p p o s e d l y t o be s e r v e d by New York C i t y .

The r e q u e s t

is

bas e d upon no t h o u g h t or d e s i r e

o f i n c r e a s i n g any p r e p o n d e r a t i n g

i n f l u e n c e of New York C i t y ,

s i m p l y upon t h e ground t h a t

but

New York i s t h e o n l y p r o p o s e d r e g i o n a l r e s e r v e c i t y t h a t

could

serve Scranton w ith out i n t e r f e r e n c e both w ith t h e convenience
and t h e e x i s t i n g

c u s t o m a r y c o u r s e of S c r a n t o n ' s b a n k i n g and

g e n e r a l b u s i n e s s r e l a t i o n s - S c r a n t o n b e i n g w i t h i n t h r e e and
o n e - h a l f hours of r a i l

c o mmu n i c a t i o n w i t h New York, w i t h a l ­

most p e r f e c t t r a n s p o r t a t i o n

f a c i l i t i e s - w h i l e from P h i l a d e l p h i a ,

th e next n e a r e s t proposed c i t y ,
with f a c i l i t i e s
factory,

a s compared w i t h New York, v e r y much l e s s

e ve n more u n s a t i s f a c t o r y t h a n i s

d i f f e r e n c e in tim e.




we a r e f i v e and o n e - h a l f h o u r s ,

i n d i c a t e d by t h e

satis­

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Ab b e t we e n P h i l a d e l p h i a ,
P h i l a d e l p h i a would,
Scranton,

of c o u r s e ,

B a l t i m o r e and W a s h i n g t o n ,

be t h e f i r s t

c h o i c e of

a s w i t h e i t h e r o f t h e l a t t e r two c i t i e s ,

c o u l d n o t have t h i r t y - s i x

hour c o m m u n i c a t i o n ,

Scranton

s uch a s now

e x i s t s w i t h New York*
Your Commi t tee beg f u r t h e r t o s ubmi t t h a t t h e
importance of Scranton as a banking c e n t e r ,
only the t h ir d
clearings

c i t y of the S t a t e ,

so c l e a r l y

set

b e i n g no t

but h a v i n g a n n u a l bank

of over |160,OOO,0 0 0 . 0 0 ,

the consideration

it

clearly en title

it

to

f o r t h and u n e q u i v o c a b l y

p r o m i s e d i n t h e Act e s t a b l i s h i n g F e d e r a l R e s e r v e Banks*




W W i P L l ll i

Reproduced from the Unclassified / Declassified Holdings of the National Archives

E k e 3|feapira Jfetimrirl M a n k ,
SCRANTON, PA.
CYRUS D. JONES .P R E S ID E N T ,
TH O M A S S PR AG UE , V IC E

p r e s id e n t

, C.S.WOOLWORTH ,v i c e

p r e s id e n t

,

GEORGE T . D U N H A M , c a s h i e r .

Jan ua ry 12, 1914*

Mr. Samuel McCracken, Cashier,
Peoples Bank,
Wilkes-Barre
Pa.
Dear Sir:In reply to yours of the 10th instant would
say, that I have already written to the Secretary of
the Treasury at the request of some of our Philadelphia
friends.

We are in favor of the designation of

Philadelphia for a Regional Reserve Bank as against
Baltimore or Washington.

I believe that Philadelphia

can serve the southern section as well as Baltimore
and I do not believe that Washington should have one
of the Reserve Banks, as it has never been a banking
center, and would make one additional and unnecessary
change fromthe present actual course of business.

It

also seems to me that the great State of Pennsylvania
is entitled to this recognition, on account of its
industrial importance, and that Philadelphia being the
leading city of the state, should be chosen
location, for one of the Reserve Banks.




Cashier.

as the

^ ‘

. . . . . . . . . J-

11 " — . . . . . . . . . . '• - J - a '

..........................................................................................................................................................

— i l i J

i i l - a

■'<i:r i g f t j -

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Br o o k s

J o h n H. B r o o k s
G e o r g e e. B r o o k s
T h o m as R. B r o o k s

S c r a n t o n , Pa .
4 -23 S p r u c e S t r e e t
W i l k e s B a r r £ , Pa .
M i n e r s Ba n k B ’ l d ’ g

Ba n k e r s

J . E d w in W e i s s e n f l u h


TO A V O ID


& Co.

GROUND FLOOR

Mem bers Ne w Yo r k Sto c k Exchange

SCRANTON, PA.,

JAITUj&BY

"j n

1914

.

3amue 1 I.:cOracken, E s q . ,
Chairm an Group ^ h r e e ,
Wilke s - B a r r e , Pa .
My d e a r S i r :
I t seems t o u s , as a member of Group T h r e e , o f
t h e P e n n s y l v a n i a B a n k e r s 1 A s s o c i a t i o n , t h a t i t would "be v e r y
much t o o u r a d v a n t a g e and a m a t t e r . o f con s id e r a b l e more
c o n v e n i e n c e t o ha ve a R e g i o n a l Bank l o c a t e d i n P h i l a d e l p h i a ,
P a *, r a t h e r t h a n i n W a s h i n g t o n or B a l t i m o r e ;
and we
s i n c e r e l y t r u s t t h a t t h e F e d e r a l Board w i l l s e l e c t
P h i l a d e l p h i a a s t h e l o c a t i o n f o r a R e g i o n a l Bank, a s s u m i n g ,
of c o u r s e , t h a t we ( Sc r ant o n ) a r e t o be i n t h e zone
c o v e r e d by a H e g i o n a l Bank i n one o f t h e s e t h r e e c i t i e s ,
Yery t r u l y y o u r s ,

j h b / lao

D E L A Y S A D D R E S S A L L B U S IN E S S C O M M U N IC A T IO N S TO B R O O K S & CO. A N D NOT TO IN D IV ID U A L S

Reproduced from the Unclassified / Declassified Holdings of the National Archives




D. G. R O M B A C H
IN V E S T M E N T
C O NNELL

S E C U R IT IE S
B U IL D IN G

s c r a n t o n

p a .

January 12, 1914

Samuel McCracken, Esq., Cashier,
Peoples Bank,
W ilkes-Barre, Pa*
Dear Mr* McCracken:
Replying to your l e t t e r o f January 10th, ray
preference as a lo ca tio n for a regional reserve center
for t h i s sec tio n , would be the c it y of P h ilad elph ia for
the reason that a greater percentage of our b u sin ess I s
w ith ,or tributary to,P h iladelph ia#
The s e le c tio n of Baltimore or Washington as
a reserve center for t h is sectio n would plaee the banks
of northeastern Pennsylvania to a very decided 4 isa d vantage owing to the slow mail f a c i lit i e s #
Very tr u ly youre^
R/A

/

Reproduced from the Unclassified / Declassified Holdings of the National Archives

/Jferjcijmtte

€ m k

SCRANTON
C A P IT A L $ 2 5 0,000.00
A .J .C A S E Y , P

r e s id e n t

C . W. GU N S T E R, C a

s h ie r

}

PA.

S U R PL U S $60 0,000.00
T H O M A S E .J ON E S, V ic e P r e s i

de n t

GEORGE O .S H A R P S , A s s i s t a n

C a s h 'er

t

Jan u ary 12-191^

Mr. S a m e l McCracken, Esq., C h a ir m a n ,.
Group T h r e e , P e n n a .. B a n k e r s A s s * n ,
c / o P e o p l e s B a n k , . Wilices B a r r e , P a .
Dear S i r :
Your f a v o r o f t h e 1 0 t h i n s t , r e l a t i n g t o t h e c l a i m o f
t h e C i t y o f P h i l a d e l p h i a , f o r a R e g i o n a l Bank, r e c e i v e d *
Our P r e s i d e n t h a s a l r e a d y w r i t t e n , b o t h t o t h e
S e c r e t a r y o f t h e T r e a s u r y a n d o u r Member o f C o n g r e s s , a t Washing­
t o n , D. C. a s k i n g t o h a v e t h e C i t y o f P h i l a d e l p h i a d e s i g n a t e d
a s one o f t h e f e d e r a l R e s e r v e C i t i e s .
We e n c l o s e a c o p y o f t h e L e t t e r w h i c h he w r o t e t o
the S e c r e t a r y of th e T r e a s u ry .
We h a v e a l s o w r i t t e n and s e n t c o p i e s o f o u r l e t t e r s
r e l a t i n g t o t h e same t o t h e G i r a r d N a t i o n a l Bank, P h i l a d e l p h i a ,
an d t h e P o u r t h S t r e e t N a t i o n a l B a n k , P h i l a d e l p h i a , P a . ,




YOUrP roanPAt.fnl 1v

CASHIER

Reproduced from the Unclassified / Declassified Holdings of the National Archives

/iferd rattte

$ M tttq x a te »

SCRANTON,
C A P IT A L $25 0,000.00
A.J. C A S E Y , P

r e s id e n t

C ,\ A / .G U N S TE R ,C a s h i e r

#atik

PA.

S U R PL U S $ 6 0 0,000.00
T H O M A S E .J O N E S ,V ic e Pr

e s id e n t

GEORGE O .S H A R P S , As s i s t a

n t

Ca s h i e r

C-C-P-Y

December 2 9-1 913

H o n o r a b l e W i l l i a m G. McAdoo,
S e c re ta ry of the T reasury,
Wash i n g t o n , D. C .

Dear S i r :
R e f e r r i n g t o t h e f e d e r a l R e s e r v e A c t , w h i c h h a s now
hecome a la w a n d w hic h a u t h o r i z e s t h e o r g a n i z a t i o n o f F e d e r a l
R e s e r v e Baltics t h r o u g h o u t t h e U n i t e d S t a t e s , we b e g t h a t you may
g i v e y o u r f a v o r a b l e c o n s i d e r a t i o n o f t h e e s t a b l i s h m e n t o f one o f
t h e s e F e d e r a l banics i n t h e C i t y o f P h i l a d e l p h i a .
Among t h e v a r i o u s r e a s o n s w h i c h c a n he g i v e n i n f a v o r
of t h i s r e q u e s t a r e th e f a c t s t h a t P h i l a d e l p h i a h a s alw ays b e en
c o n s i d e r e d one o f t h e m ost c o n s e r v a t i v e an d s t a i d b u s i n e s s and
f i n a n c i a l c e n t r e s o f t h e n a t i o n , w i t h bartic r e s o u r c e s o f o v e r one
b i l l i o n d o l l a r s , b e s id e s bein g the c h ie f c i t y in the r i c h e s t
a n a m ost i n f l u e n t i a l S t a t e o f t h e U n i o n .,
H oping f o r y o u r f a v o r a b l e c o n s i d e r a t i o n i n t h i s m a t t e r ,
I am,.
Yours v e r y t r u l y ,
A. J . C a s e y ,
CHI.




P resid en t.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

KT? 8 7 3 7 .
u n it e d

States

d e p o s it o r y

Un io n National Ba n k o r S cranto n
C A P IT A L $ 5 0 0 , 0 0 0 .
W. L. C O N N ELL,

P r e s id e n t

F .W .W O L L E R T O N , V i c e P r e s i d e n t
W ¥ W M 'r C U L L O C H ,
C a s h ie r

S g r a n t o n ,Pa .

January 13,1914

Mr. Samuel McCracken, Cashier,
People’
s Bank,
Wilkes-Barre, Pa.
Dear Sir:
Answering your favor of the 10th inst.,
regarding a Federal Reserve Bank at Philadelphia, we
are of the opinion that Philadelphia is entitled to
every consideration as a Federal Reserve City.
In view of the fact that the Act reads:
"That the Districts shall be apportioned with due re­
gard to the convenience and customary course of busi­
ness**, Philadelphia, would be a logical place for the
establishment of a Federal Reserve Bank.




Very truly yours,

Cashier

‘ F^eprbduGed from ttie Unclassified / Declassified Holdings of the National Aich ves

C. E. C H I T T E N D E N
PRtSIDtNT

J O H N E. R O C H E,
WOLF SE1DMAN,

K E N N E T H R. B U R N E T T

V ice -P resid e n t
V ice -P resid e n t

C ashier

Director*
MAX B L U M E
D. J. C A M P B E L L
C.

E. C H I T T E N D E N

ROBERT
HERMAN
JEROM E

J.

THE PINE BROOK BANK

H.

S.

JOHN
H. C.

GLATZ

WOLF

HAAS

H A8EN
LEVE RICH

S c r a n t o n , p a .,

F. M I T C H E L L

S ecretary

8 2 7 CA PO U SE A V EN U E

M. D I N N E R
FREDERICK

Directors
JAM ES

ROBINSON
E.

ROCHE

RUTH ERFO RD
SEIDM AN

MARTIN

P

JO SEPH

F. W E I R

WALSH

J a n u a r y I E , 1914*

Samuel M cCracken , C hairm an
Group 5 P e n n s y l v a n i a B a n k e r s A s s o c . ,
W i l k e s - B a r r e , Pa*
Dear S i r :
R e f e r r i n g t o y o u r l e t t e r o f J a n u a r y 1 0 t h we w i s h t o
say:
We b e l i e v e t h a t P h i l a d e l p h i a i s t h e m o s t l o g i c a l o f t h e
t h r e e c i t i e s m e n t i o n e d f o r t h e R e g i o n a l H e s e r v e Bank,
F i r s t - because f o r y e a rs i t has been th e C learin g -h o u se
f o r the c o u n try banks, i n t h i s p a r t of the E a s t.
Second - b e c a u se P e n n s y lv a n ia a s a s t a t e o c c u p i e s th e
s e c o n d i f n o t t h e f i r s t p l a c e w i t h r e g a r d t o D e p o s i t s , C a p i t a l in-,
v e s t e d a n d Bank A s s e t s i n t h e U n i t e d S t a t e s a n d P h i l a d e l p h i a i s
much more d i r e c t l y c o n n e c t e d , b o t h a s r e g a r d s g e o g r a p h i c a l l o c a t i o n
and t r a n s p o r t a t i o n f a c i l i t i e s w i t h . t h e v a s t r e s o u rc e s of the s t a t e
th a n e i t h e r W ashington or B a lt i m o r e .

We b e l i e v e t h a t P h i l a d e l p h i a o c c u p i e s

p o sitio n lik e

t h e hub o f t h e w h e e l w i t h i t s n um erous r a i l r o a d s r a d i a t i n g i n a l l
d i r e c t i o n s and th e f a c t t h a t i t i s such a r a i l r o a d c e n t e r , w i l l
make i t a n i d e a l l o c a t i o n f o r a R e g i o n a l Bank.
T r u s t i n g t h a t t h e Committee may m eet w i t h s u c c e s s on
t h e i r m i s s i o n , we b e g t o r e m a i n


http://fraser.stlouisfed.org/
kkb/ hl
Federal Reserve Bank of St. Louis

Your s v e r y t r u l y ,

r

Reproduced from the Unclassified I Declassified Holdings of the National Archives

NO. 2 2 9 3
T H O M A S K & R M , P r e s /d e n t




/ W . G R / F F / T / i , V /c e P r e s / d e n t

W / L L / A M H. G / S fi\ Ca s h / e r

U it t k o f J s ( a

on

fl/a tir u fto n .

/(? /

4 j

~ > W '

Reproduced from the Unclassified I Declassified Holdings of the National Archives

TH O M A S K E R N , Pr e s /d e n t

/ . W. G R / F P S T H , V / c e P r e s i d e n t

W / L L / A M rt. G / S / i Ca s h / e r

f t S a tin y fo n , 0 il. Pee . J I7 ,

Eon. William G. McAdoo,
Secretary of the Treasury,
Wash. ington, 3). C .
Dear Sir
We join in the request that Philadelphia
he selected as one of the cities for the location
of one of the Federal Reserve Banks under the new
law.
Phi lade Iphia by reason of its Importance
is one of the places naturally to be selected.

It

is the closest of the big cities to the large in­
terests in the State of Pennsylvania and neighbor­
ing states and is third in banking resources and
deposits.

Patriotic pride would choose it by rea­

son of its pre-eminence in the nation’s history
and to pass it by will be grievous disappoint­
ment to millions who use it as their centre for
banking and general business.




Hespectfully yours,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C. D. WALLACE
President

R. H. KINTNER
Vice President

B. S. JACOBY, Cashier
C. B. KELLER, Jr., Asst. Cashier

The Stroudsburg National Bank
-No. 3632-

Capital, $100,000.00
Surplus, $300,000.00

/£ f

V

,

latv ^

-^ c J ?

^
to "

c
c
^

CL^Ct^a.
^

c

i ^ v v j ^ {f^ Z v b

/^ O C r 1 & e < s L ^ U « , , U




'

fteprodtfced from the Unclassified / Declassified Holdings of the National Archives

J&'ecuritj lErwsi (Eampang <rf ^trouialnnrg
CAPITAL FULLY PAID, 8 1 2 5 ,0 0 0 . 0 0
P . S . J O H N S O N , P h b b id e n t
J . A . S I L O E S , Y io b P r e s i d e n t
T, D ,

S E B F A S , Vi c e P r e s i d e n t

iA N K B . M I C H A E L S , TREASURER
o. P.

s h ip p e r

, Teller

7

S T K O T D S B U H G , P A .,

J ftQ .

13,

1^ 14.

Mr. Samuel (J. McOracKen,
Wiiices ±5&rre, P a ,
Dear S i r :
I n a n s w e r t o y o u r r e c e n t l e t t e r , we d e s i r e t o s a y t h a t we a r e
d e c i d e d l y i n x a v o r o r a .R egio nal isams. b e i n g l o c a t e d i n t h e c i t y ox
P h ilad elp h ia.
We do n o t r e a c h t h i s c o n c l u s i o n s i m p i y u e c a u s e P h i l a d e l p h i a
i s r a p i d l y b e c o m in g one ox u u r l a r g e s t - a n d s t r o n g e s t i n d u s t r i a l a n d
b a n k i n g c e n t e r s , u u t more e s p e c i a l l y b e c a u s e ox t h e s p l e n d i d b a n k i n g
x a c i l i t i e s g e n e r a l l y and c o l l e c t i o n i a c i i i t i e s s p e c i f i c a l l y t h a t th e
b a n n i n g i n s t i t u t i o n s oX t h i s c i t y h a v e o i x e r e a a n d m a i n t a i n e d d u r i n g
the p a s t,
i t i s o u r Xirm c o n v i c t i o n t h a t a R e g i o n a l .Dank l o c a t e d t h e r e
would s e r v e t h e i n t e r e s t oX t h e banfcs i n o u r g r o u p much b e t t e r t h a n
e i t h e r oX t h e o t h e r p l a c e s m e n t i o n e d .
W it h b e s t w i s n e s Xor y o u r s u c c e s s i n a c c o m p l i s h i n g t h i s , we
are,




T reasurer.

i r iu,,ul........."L:... 1.1....1 -■■■■.

■
u,"JL»u
Reproduced from the Unclassified I Declassified Holdings of the National Archives

8 3 5

W Y O M IN G N A T IO N A L B A N K ,
TUNKHANNOCK, PA.

F. Xt. 8I T T 8E R ,
P

r e s ’t

8. W .

E Y

R . E. B IL L IN G S ,
V i c e P h e s 't .

.

8E N B A C H , C A S H IE R .

T U N K H A NNO CK ,

Cy - y

A-

7 ^ -^ t

(5 z f.




191

f

- '

^^^^^R^^flU be^rorr^heU nciassified^D eclassifiedH oJding^onh^Nationa^rchives

$lemk

$ xt0 k

W E A T H E R L Y , PA.
ELM ER W A R N E R , P R E S .

C H A S . F. B R E T N E Y, C A S H IER.

Waatherly, pa.,
Jan* 12, 1914.

Mr* Samuel McCracken, Cashier,
Peoples Bank,
Wilkes-Barre, Pa*

Dear Sir,
In reply to your letter of the 10th inst. W© would like to see
Philadelphia a Federal Reserve City and be included in their territory.
The business relations between this town and Philadelphia are
closely related and our information on credits from the Philadelphia
Banks prove very satisfactory.
Our Officers and Directors visit Philadelphia frequently and
secure any information from our reserve banks they desire.
Let it be known that we would be highly pleased to see Philadelphia
named as on® of the Reserve Cities, I am




Reproduced from the Unclassified / Declassified Holdings of the National Archives

jSmmtr 3&*f:mral Mmtk
W IL K E S -B A R R E , P A .
A B R A M N E S B I T T , PREST.

F. M. K I R B Y , Vice; PreST.

T . H. A T H E R T O N , V ic e PREST.

E . W . M U L L I G A N , CASHIER

January 12, 1914*
Mr. Samuel McCracken, Cashier,
People* s Bank,
Dear sir:Your letter of the 10th inst, received.
Referring to the request of the Philadelphia
Bankers, say that I thoroughly approve of the estab­
lishment of the Regional Reserve Bank, in the City of
Philadelphia, and believe the committee's request
should receive favorable consideration.




Very truly yours,
CASHIER.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Samuel McCracken, Cashier,
P e o p l e s Bank,

^ilkes-Barre, Pa.
£©ar Sirs
In replv to yours of the 10th inst. would aay
that aa Phi la. is one of the large money ftOQteiter-lrf
United States and as there is no question that the Banks
in Group T l 1

would bp better 3orved by fcHegioital bank

located in tft&fc city*

to would be in favor of y@ur

sending a representative of our Group to Washington
to further the claims of Phila. as one of the Regional
Reserve cities.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

F R E D T H EIS, p re s id e n t
J O H N T. L E N A H A N , v i c e

W . B. S C H A E F F E R , t r e a s u r e r
G . M. M I L L E R , a s s i s t a n t t r e a s u r e r

p re s id e n t

O L I N F. H A R V E Y , J r .,
TRUST

OFFICER

W YOM ING VA LLEY TRUST COMPANY
D IR E C T O R S
F R E D T H EIS
R. J . F L I C K
CYRUS STRAW
E. W . D A V I S
GUY W. M OORE
C . E. S T E G M A I E R

D IR E C T O R S

C A P IT A L A N D S U R P L U S —O N E M IL L IO N D O L L A R S

I. S . L O N G
D. S. W I L L I A M S
J O H N T. L E N A H A N
B. R . J O N E S
J . N. T H O M P S O N

O P E N S A T U R D A Y E V E N IN G S

ITN I T I? D S T A T E S ( i O V E H N M K N T D E P O S I T O R Y F O R P O S T A L S A V I N G S

W IL K E S -B A R R E , PA.,

J a n . 12, 1914.

Mr. Samuel M cC rac k en ,
C h a ir m a n Group T h r e e ,
W ilk e s -B a rre , Pa,
Dear S i r ; R eplying to your fa v o r o f th e 10th i n s t .

We

a d v i s e t h a t we a r e o f t h e o p i n i o n t h a t P h i l a d e l p h i a
s h o u l d be f a v o r e d w i t h o u r s u p p o r t i n t h e i r e f f o r t s t o
s e c u r e a R e g i o n a l R e s e r v e Bank^
On December 2 6 t h l a s t o u r I n s t i t u t i o n a d d r e s s e d
t h e Hon. W. G. McAdoo, S e c r e t a r y o f t h e T r e a s u r y fa nd t h e
Congressman o f o u r d i s t r i c t w ith r e f e r e n c e to t h i s m a t t e r .
We t r u s t you w i l l , a s r e p r e s e n t a t i v e o f Group
T h r e e , do a l l you can I n t h i s d i r e c t i o n *




Y o u rs v e r y t r u l y ,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

%
WILKES-BARRE, PA.
W OODW ARD LEAVENWORTH, P r e s id e n t.
M. G A E R T N E R , V ic e

P re s id e n t.

J . C. BELL, C a s h i e r .

January, 14, 1914.
Mr.

Samuel McCracken
Chairman o f Sroup t h r e e ,
Wilkee-Barre , P a . ,

D e ar Sir;

I . b e g t o ast y o u ^ a s Chairm an o f o u r g r o u p

to use your b e s t e f f o r t s in o c c u r r in g th e appointm ent o f
P h i l a d e l p h i a a s one o f t h e K e s e r v e C e n t e r s ,
As b e t w e e n W a s h i n g t o n , B a l t i m o r e 4 P h i l a d e l p h i a ,
I S t r o n g l y A d v o c ate a R e g i o n a l B a n t i n P h i l a d e l p h i a .




S i n c e r l ^ yQursi
C ashier.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Mr. Samuel McCracken,
Chairman of Group Three,
Pennsylvania Bankers Association,
City*
Dear Sir:In answer to your favor of January 10, 1914, we wiBh
to advise you that the Luzerne County National Bank is very
decidedly in favor of having the Federal Reserve Board select
the City of Philadelphia for & Regional Reserve Bank.
In the handling of our very active commercial business
we have found that the City of Philadelphia has always played a v
very active part.

There would be very few times when it would

be necessary for us to use a Regional Bank in either Baltimore
or Washington.
The City of Philadelphia has had a very active part
in the financial history of the United States since the time of
the thirteen colonies.

It is also the third largest city in

the United States at the present time.
We sincerely hope that your Committee may be able to in­
fluence the Regional Board to locate a bank at Philadelphia.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

W M . O. F O W L E R , P r e s i d e n t .

JESSE

B. S C H O O L E Y ,

V ic e -P r e s id e n t .

F. D . C O O P E R , C a s h i e r .

W yom ing, Pa., Jan* is , 1 9 1 4

Mr. Samuel McCracken, Cashier,
Peoples Bank,
Wilkes Barr®,

Pa.

Dear S i n Replying to yours of the 10 th inst. asking our views in
regard to the establishment of a Reginal Reserve Bank at Phila. Pa.
would say that we heartily favor this plan and desire to give it our
support.
We have been unusually well served by the banks in Phila.
in the past and feel that they understand the needs of this community
far better than the banks in Washington B. C. or Baltimore M. D.
The collection of checks and other cash items would be
greatly facilitated by our becoming members of the Phila. Reserve Bank
as lrbters will pass to and fro within 24 hours at all times^which
would not be the case should the Reginal Bank be located in either
of the other cities named.




Hoping for success in your endeavors fcr old Phila. I am,
Very truly yours,

w *' rteprod'ufced from the Unclassified I Declassified Holdings of the National Archives

N9 3 9

T O W A N

D A ,

C A P IT A L $ H 2 S.O O O
E.F. K I Z E R ,

Pr e s i d e n t

P A .

S U R P L U S $ 1 2 5 .0 0 0
W. E. L A N E ,

Ca s h i e r

January

13 ,

191M-.

Mr. Samuel M cCracken,
C h a rim an Group I I I P e n n s y l v a n i a
Bankers A s s o c i a t i o n ,
W ilk es-B arre, Pa,
Dear s i r : I u n d e r s t a n d a Com mittee o f P h i l a d e l p h i a B a n k e r s
w i l l a p p e a r "before t h e F e d e r a l R e s e r v e B o a r d a t W a s h i n g t o n ,
D. C . , o n F r i d a y , J a n u a r y 1 6 , 1 9 1 ^ , t o p r e s e n t t h e c l a i m o f t h e
C i t y o f P h i l a d e l p h i a f o r a R e g i o n a l R e s e r v e Bank.
Our B o a rd o f D i r e c t o r s h a v e a u t h o r i z e d me t o w r i t e
yo u t h a t t h e y h e a r t i l y a p p r o v e o f t h i s a c t i o n and t h i n k one
o f t h e s e R e g i o n a l R e s e r v e ? B a n k s s h o u l d be l o c a t e d i n P h i l a d e l p h i a
f o r the fo llo w in g rea so n s, v iz:: I t is the n a t u r a l re se rv e c e n te r
fo r t h i s s e c tio n o f the c o u n try , b eing e a s i e r o f access than
New York; o r B a l t i m o r e ; i t h a s a g r e a t e r number o f o u t o f town
b a n k a c c o u n t s t h a n any E a s t e r n C i t y e x c e p t New Y o r k , a n d i t s banks
h a v e been, more l i b e r a l i n t h e i r t r e a t m e n t o f c o u n t r y b a n k s i n
c o l l e c t i n g i t e m s on o u t o f t h e way and f o r e i g n c i t i e s t h a n t h o s e
o f any o t h e r E a s t e r n C i t y i n t h i s

section;

it

s t a n d s t h i r d as

a b a n k i n g c e n t e r i n amount o f d e p o s i t s o f N a t i o n a l Banks n o t t o
m e n t i o n t h e g r e a t arnoung o f s p e c i a l d e p o s i t s h e l d b y i t s

Trust

C o m p a n ie s ; i t i s t h e t h i r d l a r g e s t c i t y i n t h e U n i t e d S t a t e s and
by r e a s o n o f i t s g r e a t m a n u f a c tu r in g i n t e r e s t ^




geographical

Reproduced from tHe Unclassified / Declassified Holdings of the National Archives

N9 3 9

3 \%T2kt
TO W A N

CAPITAL $ 125.000
E.F. K I Z E R,

Pr e s i d e n t

l& z c n k
D A ,

P A .

SURPLUS $!25 .0 0 0
W. E . L A N

E , Ca s h i e r

s i t u a t i o n and t h e p o p u l o u s t e r r i t o r y a d j a c e n t and t r i b u t a r y
t h e r e t o i s e n t i t l e d t o one o f t h e s e R e g i o n a l R e s e r v e B a n k s .




Yours t r u l y ,

^^^^^^J^^^n^h^Jncl^^e^^edassifie^olXig^fft^ationa^rchives

Qjkv (£ zixz?tt& 3$id ix tm tl M m tk
S LA TIN G TO N ,
OT.OPLINGER,

prcst

.

PA.

J. L . F O O T E,

H .H .M ISSON,

vice p r e s t

c a s h ier

Slatington,Pa.Janf.14,1914•
Mr.Samuel McCracken,Chairman
Group Three,
WilkesBarre,Penna 0
Dear Sir:Replying to your letter of the 10th inst.,beg to
advise you that this Bank has urged that a Regional Reserve Bank be
located in Philadelphia and our letter is on file with the Committee
at

hington,D*C*,receipt of which has been acknowledged*




Tours very truly,
H.H.Misson,

Cashier

PII1IIJ« ' JJ"“.....................- I - - I ....................... 1............

'■ IJ..........

Reproduced from the Unclassified I Declassified Holdings of the National Archives




Reproduced from the Unclassified I Declassified Holdings of the National Archives

ALLEN

P. P E R L E Y , P

$ 4 0 0 ,0 0 0 .0 0

W . H. P A I N T E R , Ca

r e s id e n t

\\?y\ w M

s h ie r

/ -.7/$ 1,375,000.OP-

W illiam sportV P *
Hon* S ecreta ry o f th e T reasury,
W ashington, D. C•
S irs
In my l e t t e r to you
retu rn s from Group 4^ PeKhi
in regard to having a ftroei
I now e n c lo se 1two a<

1 4 th , I e n c lo se d to you 6^
fejLa Bankers1 A s s o c ia tio n ,
serv e Bank in P h ila d e lp h ia .
brtnsing the number up to

71 out o f the 7 4 .




Y ouP r>ery tr u ly *

Reproduced from the Unclassified I Declassified Holdings of the National Archives
r

_

1.00

To the Chairman Group 4:
It is the belief of this Bank that the interests of the
Banks

Pennsylvania will best be served by the location of a

Federal Reserve'^3ank in Philadelphia, and we japprove of the
action of tme officers of Group 4 in endeavoring to secure the
location ofTa Federal Reserve Bank in P h i l a d e l p h i a .




Reproduced from the Unclassified / Declassified Holdings of the National Archives

To t h e C h a i r m a n G r o u p 4 :
It

i s t h e b e l i e f o f t h i s Bank t h a t t h e i n t e r e s t s o f t h e

B a n k s o f P e n n s y l v a n i a w i l l b e s t be s e r v e d by t h e l o c a t i o n o f a
F e d e r a l R e s e r v e Bank i n P h i l a d e l p h i a ,
actio n

of

a n d we a p p r o v e o f t h e

t h e o f f i c e r s o f Group 4 i n e n d e a v o r i n g to s e c u r e

l o c a t i o n o f a F e d e r a l R e s e r v e B ank i n P h i l a d e l p h i a .




the

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To t h e C h a i r m a n G r o u p 4 :
It

i s t h e b e l i e f o f t h i s Bank t h a t t h e i n t e r e s t s o f t h e

B a n k s o f P e n n s y l v a n i a w i l l b e s t b e s e r v e d by t h e l o c a t i o n o f a
F e d e r a l R e s e r v e Bank i n P h i l a d e l p h i a , a n d we a p p r o v e o f t h e
a ctio n

of




t h e o f f i c e r s o f Group 4 i n e n d e a v o r i n g to s e c u r e

the

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To t h e C h a i r m a n G r o u p 4 :
It

i s t h e b e l i e f o f t h i s Bank t h a t t h e i n t e r e s t s o f t h e

B a n k s o f P e n n s y l v a n i a w i l l b e s t b e s e r v e d by t h e l o c a t i o n o f a
F e d e r a l R e s e r v e Bank i n P h i l a d e l p h i a , a n d we a p p r o v e o f t h e
actio n

o f t h e o f f i c e r s o f Group 4 i n e n d e a v o r i n g to s e c u r e

l o c a t i o n o f a F e d e r a l R e s e r v e Bank i n P h i l a d e l p h i a .

J,




the

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Canton, Pa. January 5, 1914

To t h e C h a i r m a n G r o u p 4 :
It

i s t h e b e l i e f o f t h i s Bank t h a t t h e i n t e r e s t s o f t h e

B a n k s o f P e n n s y l v a n i a w i l l b e s t be s e r v e d by t h e l o c a t i o n o f a
F e d e r a l R e s e r v e Bank i n P h i l a d e l p h i a , a n d we a p p r o v e o f t h e
actio n

of

t h e o f f i c e r s o f Group 4 i n e n d e a v o r i n g to s e c u r e

l o c a t i o n o f a F e d e r a l R e s e r v e Bank i n P h i l a d e l p h i a .




THE FARMERS NATIONAL BANK,

Cashier

the

Reproduced from the Unclassified I Declassified Holdings of the National Archives

JAM 7 - 1814
To t h e C h a i r m a n G r o u p 4 :
It

i s th e b e l i e f of t h i s

Bank t h a t t h e i n t e r e s t s o f t h e

B a n k s o f P e n n s y l v a n i a w i l l b e s t b e s e r v e d by t h e l o c a t i o n o f a
F e d e r a l R e s e r v e Bank i n P h i l a d e l p h i a ,
a ctio n

of

a n d we a p p r o v e o f t h e

t h e o f f i c e r s o f Q-roup 4 i n e n d e a v o r i n g t o s e c u r e

l o c a t i o n o f a F e d e r a l R e s e r v e Bank i n P h i l a d e l p h i a .




the

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To t h e C h a i r m a n G r o u p 4 :
It

is the b e l i e f of t h i s

Bank t h a t t h e i n t e r e s t s o f t h e

Ba n k s o f P e n n s y l v a n i a w i l l b e s t be s e r v e d by t h e l o c a t i o n o f a
F e d e r a l R e s e r v e Bank i n P h i l a d e l p h i a ,
actio n

of

a n d we a p p r o v e o f t h e

t h e o f f i c e r s o f Group 4 i n e n d e a v o r i n g to s e c u r e

l o c a t i o n o f a F e d e r a l R e s e r v e Bank i n P h i l a d e l p h i a .




the

Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fe d e r a l Res e r v e Bank in P hiladelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P hiladelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

m

sis.->

To the C h a i r m a n G r oup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l R eserve Bank in Philadelphia, and we approve of the
a c t i o n of the off i c e r s of Group 4' in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P hiladelphia.




^

/-> "*r"

y

Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n G r oup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a w ill best be served by the l o c a t i o n of a
F e d e r a l Res e r v e Bank in P h iladelphia, and we approve of the
ac t i o n of the o f f icers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P h iladelphia.
*




First national Bank of Galeton,

V

Reproduced from the Unclassified I Declassified Holdings of the National Archives

1914
To the C h a i r m a n G r oup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R e serve Bank in Philadelphia, and we approve of the
a c t i o n of the o f ficers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P h iladelphia.




F
Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R eserve Bank in P hiladelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P h i l a delphia.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n Gr oup 4:

// v 7 V '

It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a wil l best be served by the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h iladelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

JAN 5 - 1919

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by th^ l o c a t i o n of a
Fed e r a l Res e r v e Bank in P h iladelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P h iladelphia.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l R eserve Bank in P hil adelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l Res e r v e Bank in Philadelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




r

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l Res e r v e Bank in Philadelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal Rese r v e Bank in Philadelphia.




LEWISBURO, PA.i

Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l R eserve Bank in Philadelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Phila




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l Res e r v e Bank in Philadelphia, and we approve of the
a c t i o n of the off i c e r s of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Gro u p 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l Res e r v e Bank in Philadelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l Res e r v e Bank in P hiladelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal Rese r v e Bank in P hiladelphia.




fh Lock Mm Tiist 6 Safe Dejrcait 8q,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R e serve Bank in Philadelphia, and we a pprove of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P hiladelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G roup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fede r a l R eserve Bank in Philadelphia, and we approve of the
a c t i o n of the o f ficers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




c

y

\

Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fede r a l Res e r v e Bank in Philadelphia, and we approve of the
a c t i o n of the o f ficers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G r oup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l R eserve Bank in P hil adelphia, and we a pprove of the
a c t i o n of the off i c e r s of Group 4 in e n d e a v o r i n g to seoure the
l o c a t i o n of a Federal R e s e r v e Bank in P h iladelphia.




PW8T NATIONAL BANK
M M tSFim , v h .

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Mansfield,

Pa.

Jan,

5,

1914.

To the C h a i r m a n Group 4:
It is the b e l i e f of this

Bank

that the interests of the

Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l Res e r v e Bank in P h i l a delphia, and we approve of the
a c t i o n of the o f f icers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P hiladelphia.
We h a v e t a k e n t h e p a i n s t o g e t i n c o r r e s p o n d e n c e w i t h o u r
r e p r e s e n t a t i v e s at Wash in gt on and o t h e r s o f i n f l u e n c e and a r e d o in g
a l l in our power to a s s i s t P h i l a d e l p h i a in t h i s f i g h t b e l i e v i n g t h a t
it i s o f v i t a l im portance to e v e r y bank in t h i s s t a t e t o b r i n g t h i s
about.
Very r e s p e c t f u l l y ,
G r a n g e N a t i o n a l Rank,




By

Cashier.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

GUARANTEE TRUST & SAFE DEPOSIT 00,

MT. CARMEL, PA, '
To the C h a i r m a n Group 4:

r

It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R e serve Bank in Philadelphia, and we approve of the
ac t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l Res e r v e Bank in P hiladelphia, and we approve of the
a c t i o n of the o f f icers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




w -C -

(/

(A

—

Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n G r oup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R eserve Bank in Philadelphia, and we approve of the
a c t i o n of the o f f icers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Milton Trust and S a fs Deposit Company.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Gro u p 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R eserve Bank in Philadelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P h iladelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G r oup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fede r a l R eserve Bank in Philadelphia, and we approve of the
ac t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G roup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
p

Fed e r a l R eserve Bank in Philadelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the




1 1 I IJJ.AUJHI

Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n G roup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R eserve Bank in P h i l a d e l p h i a , and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the




4

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Tp the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R eserve Bank in Philadelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.
F ir s t n ational Bank,
Montgomery. Penna.

Montg om e ry , Pa#, Jany. 5, 1914



F U"J......
■
.
. ■ ■■
Reproduced from the Unclassified I Declassified Holdings of the National Archives

Kuncy, Pa., .Tanuary, IC, T?T4

To the C h a i r m a n G r o u p 4:
It is the b e l i e f

q

f t h i s B a n k that the i n t e r e s t s of the

B a n k s o f P e n n s y l v a n i a w i l l b e s t be s e r v e d b y the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a n d w e a p p r o v e of the
a c t i o n o f the o f f i c e r s of G r o u p 4 i n e n d e a v o r i n g to s e o u r e the
l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a .




Hespectfully
Citizens

Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l R e serve Bank in P h iladelphia, and we approve of the
ac t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.
The Mu ncy B a nking Co mpany of Muncy, pa*
Muncy, pa. Jan., 9 , 1914.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G roup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a wil l best be served by the l o c a t i o n of a
F e d e r a l Res e r v e Bank in Philadelphia, and we a p prove of the
ac t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




^

i

n

w iib iiiw

i

i

— up)

m

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R eserve Bank in P hil adelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e B ank in Philadelphia.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n G roup 4:
It is the bel i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l Res e r v e Bank in Philadelphia, and we approve of the
ac t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P h iladelphia.




^

^

—

■— I—WWU

Ll ■■■

Will.

.. .,.-;y-.'Va-.—- ,. ..... .

u...-

'C

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l Res e r v e Bank in P h iladelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e B ank in Philadelphia.




FIRST NATIONAL BANK,
MEW BERLIN, PA.
C 1 lX « ~ s

^

mtmm&VsiXii

,n ;

,i>v v-> •■-■ ... *,_••.•. .. ■.. -„ :

!•-j*„•*: J!i

Reproduced from the Unclassified / Declassified Holdings of the National Archives

J a m e s m u r p h y , p r e s id e n t

GEO. L. MILLER, VICE PRESIDENT

W. B. REILLEY, CASHIER

F. J. BRUNETT, ASS T CASHIER

F ir s t N a t io n a l B a n k
R E N O V Q , PA.
C

a p it a l

and

S u R P L a J g e io o

A s v -»

( ^ a «j>. »> J o -

a j u i A

C o c i x t ^ ^
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1 p £ j L * j r 9 * - f ^ K£kJ* ---------'

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4

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Reproduced from the Unclassified / Declassified Holdings of the National Archives

PENNSYLVANIA
B A N K E R S ASSOCIATION
GROUP FOUR
M e m b e r s of Group 4, Penna. B a n k e r s ’ Associ a t i o n :
The o f f i c e r s of Group 4 being c o n v i n c e d of the d e s i r a b i l ­
ity of P h i l a d e l p h i a as a l o c a t i o n for one of the Fed e r a l
R e s e r v e Banks, and w i s h i n g to secure from the in d i v i d u a l
m e m b e r s of the group an e x p r e s s i o n of opinion, and b e l i e v i n g
the best interests of the Banking F r a t e r n i t y of P e n n s y l v a n i a
will be c o n s e r v e d by this a p p o intment, ask you to fill in the
a t tached blank w i t h any c o mments you desire to make.
W. H. Painter, Secretary.
John G. Reading, P r e s i d e n t
E x e c u t i v e Co m m i t t e e
H o r a c e P. Glover, M i f f l i n b u r g
James B, Graham, W i l l i a m s p o r t
W. D. Husted, M a n s f i e l d

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F ed e r a l Rese r v e Bank in Philadelphia, and we approve of the
a c t i o n of the o f f icers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P hiladelphia.




yg*g9aBJ!»»ihwt«gam1*

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of th i s Bank that the i n t e r e s t s of the
B an k s of P e n n s y l v a n i a w i l l b e s t be s e r v e d by the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a n d we a p p r o v e of the
a c t i o n of the o f f i c e r s of G r o u p 4 in e n d e a v o r i n g to s e c u r e the
l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a .




He S£>ectJTul ly you t z ,
First Natio n al Bank,
Ralston, Ta* •

O a e h i d t *

ii

...................................................................... ............................. .....................................................................................

in ii

i

i

ii hi mi ii

11

Reproduced from the Unclassified I Declassified Holdings of the National Archives

First National Bank,
Renovo, Pa

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l Res e r v e Bank in P hil adelphia, and we approve of the
ac t i o n of the o f ficers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P hiladelphia.




i i 111

— p w w b ip iw w iiw h ""1""!! "n"

— mu

................ ....

.

1

ii i1jUi'Dinmii^'Hull'i'iiii'Iimi1«f

Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l Res e r v e Bank in Phil adelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




THC RRST RATIONAL BANK
$HlN6LiH0USE, PA.

r

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of this B an k that the i n t e r e s t s of the
B a n k s of P e n n s y l v a n i a w i l l b e s t be s e r v e d by the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a n d we a p p r o v e of the
a c t i o n of the o f f i c e r s of G r o u p 4 in e n d e a v o r i n g to s e c u r e the
l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a .




Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of this Bank that the i n t e r e s t s of the
B a n k s of P e n n s y l v a n i a w i l l b e s t be s e r v e d by the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a n d we a p p r o v e of the
a c t i o n of the o f f i c e r s of G r o u p 4 in e n d e a v o r i n g to s e c u r e
l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a .




SELiNlcr' ;-;/.'WfV T™'

•ji'iA L B A i M ,

the

Reproduced from the Unclassified I Declassified Holdings of the National Archives

s ~

To the C h a i r m a n G r o u p 4:

i

Q

It is the b e l i e f of this Bank that the i n t e r e s t s of the
B a n k s of P e n n s y l v a n i a w i l l b e s t be s e r v e d b y the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , an d we a p p r o v e of the
a c t i o n of the o f f i c e r s of G r o u p 4 in e n d e a v o r i n g to s e c u r e the
l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a .
/y v - c




& O SO O E C . N O R T H f c is ^ E R ,

r.
1 — — -

Reproduced from the Unclassified I Declassified Holdings of the National Archives

\

JJNBURY TRUST & SAFE DEPOSIT GO.
s U N S U R Y
PA.

To the C h a i r m a n Group 4:

It is the b e l i e f of this Bank that-the

terests of the

Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
■'""h. \

F e d e r a l Res e r v e Bank in P h iladelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.
T ll/w L

I y

U to A A jb rr

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jdtiU L *

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^

4

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t

z

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a

zt

^
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»

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i f-

' Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of t his Bank that the i n t e r e s t s of the
B a n k s of P e n n s y l v a n i a w i l l b e s t be s e r v e d by the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a nd we a p p r o v e of the
a c t i o n of the o f f i c e r s of G r o u p 4 in e n d e a v o r i n g to s e c u r e
l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a .




the

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:

JAN 5 - 1914

It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l R eserve Bank in Philadelphia, and we approve of the
a c t i o n of the o f ficers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P h iladelphia.




T HE FIKST NATIONAL BMiK.
Or Sukbu hy, P a .

Reproduced from the Unclassified / Declassified Holdings of the National Archives

THE NATIONAL BANK
OF £ H A M O K ! N L

PA.

To the C h a i r m a n G roup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a wil l best be served by the l o c a t i o n of a
F e d e r a l R eserve Bank in Philadelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the




r— .
.
.
.
.
.
.
.
..
.
.
.
.
.
.
.
.
.
.
.
.
.

.
.
.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of t h is Ba n k that the i n t e r e s t s of th
B an k s of P e n n s y l v a n i a w i l l b e s t be s e r v e d by the l o c a t i o n o
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a n d we a p p r o v e of the
a c t i o n of the o f f i c e r s of G r o u p 4 in e n d e a v o r i n g to s e c u r e
l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a .




S H A M O K I N , P A ..

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of t his B an k that the i n t e r e s t s of the
B an k s of P e n n s y l v a n i a w i l l b e s t be s e r v e d by the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a n d we a p p r o v e of the
a c t i o n of the o f f i c e r s of G r o u p 4 in e n d e a v o r i n g to s e c u r e
l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a .




the

Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of this Bank that the i n t e r e s t s of the
B a n k s of P e n n s y l v a n i a w i l l b e s t be s e r v e d by the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a m | V e a p p r o v e of the
a c t i o n of the o f f i c e r s of G r o u p 4 in ei}<Jeavoring to s e c u r e the
V¥ '

l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P . M i l a d e l p h i a .




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R eserve Bank in P hiladelphia, and we approve of the
a c t i o n of the o f f icers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P h i l a delphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of this Bank that the i n t e r e s t s of the
B an k s of P e n n s y l v a n i a w i l l b e s t be s e r v e d by the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a nd we a p p r o v e of the
a c t i o n of the o f f i c e r s of G r o u p 4 in e n d e a v o r i n g to s e c u r e
l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a .




the

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l R eserve Bank in Philadelphia, and we approve of the
a c t i o n of the o f f icers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




•Y d ra i 3 I J X S 3 M

ipo

iPHniiPH-siaRPii a SjaiuiB J

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l Res e r v e Bank in P hiladelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P hiladelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l Rese r v e Bank in Philadelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l Res e r v e Bank in Philadelphia, and we approve of the
ac t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of thi s Bank that the i n t e r e s t s of the
Ban k s of P e n n s y l v a n i a w i l l b e s t be s e r v e d by the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a nd we a p p r o v e of the
a c t i o n of the o f f i c e r s of G r o u p 4 in e n d e a v o r i n g to s e c u r e the
l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a .




mm— ^

— — ■—

^

1 WW—HEP** 1 ■■- — 1■■•wii**,-.---i- - ■■y-.-?.u'<*

•

"

"

“5^

Reproduced from the Unclassified I Declassified Holdings of the National Archives

JAN

6 1914

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of this B a nk that the i n t e r e s t s of the
B a n k s of P e n n s y l v a n i a w i l l b e st be s e r v e d by the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a nd we a p p r o v e of the
a c t i o n of the o f f i c e r s of G r o u p 4 in e n d e a v o r i n g to s e c u r e the
l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a .




r

Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of this Bank that the i n t e r e s t s of the
B an k s of P e n n s y l v a n i a w i l l b e s t be s e r v e d by the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a nd we a p p r o v e of the




Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n G roup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R eserve Bank in Philadelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P hiladelphia.




.......
1
^
Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G r o u p 4:
It is the b e l i e f of this Bank that the i n t e r e s t s of the
B a n k s of P e n n s y l v a n i a w i l l b es t be s e r v e d by the l o c a t i o n of a
F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a , a nd we a p p r o v e of the
a c t i o n of the o f f i c e r s of G r o u p 4 in e n d e a v o r i n g to s e c u r e the
l o c a t i o n of a F e d e r a l R e s e r v e B a n k in P h i l a d e l p h i a .




Reproduced from the Unclassified I Declassified Holdings of the National Archives

T'o the C h a i r m a n G roup 4:
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F ed e r a l R eserve Bank in P hiladelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




r

'

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n Group 4 :
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l Reserve Bank in Philadelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P hiladelphia.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

To the C h a i r m a n Group 4 :
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R es erve Bank in Philadelphia, and we approve of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Tioga County Savings k tr*:si

Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the Ckairjman Group 4 :
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
Fed e r a l Rese r v e Bank in Philadelphia, and we approve of the
a c t i o n of the o f ficers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P hiladelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

To the C h a i r m a n G r oup 4 :
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R eserve Bank in Philadelphia, and we a pprove of the
a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in P hiladelphia.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

(f
To the C h a i r m a n Group 4 :
It is the'b-elief of this Bank that the interests of the
Banks of P e n n s y l v a n i a will best be served by the l o c a t i o n of a
F e d e r a l R e s e r v e B ank in P hiladelphia, and we approve of the
a c t i o n of the o f f icers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

/

^

f
To the C h a i r m a n Group 4 :
It is the b e l i e f of this Bank that the interests of the
Banks of P e n n s y l v a n i a w i l ^ best be served by the l o c a t i o n of a
F e d e r a l Res e r v e Bank in

, and we a pprove of the

a c t i o n of the officers of Group 4 in e n d e a v o r i n g to secure the
l o c a t i o n of a Federal R e s e r v e Bank in Philadelphia.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

LMM,

ADDRESS R EPLY TO

Reserv e Ba n k O rgani zati on C ommittee
TREASURY DEPARTMENT
W a s h in g t o n , d . c .

Reserve

bank

O r g a n iz a t io n C o m m it t e e

WASHINGTON, D. C.
Ja n u a ry 7 , 1914,

Sin
I am directed by the Committee to advise you that your
communication mdking recommendation as to the location of a
^

ai<i^F6deral Reserve Bank, to be established, has been received
and filed, and will be considered by the Committee in deter­
mining this question.




Respectfully,

Secretary pro tern,
Reserve Bank Organization Committee,

Mr, Geo, Hi Flenagan, Cashier,
The Wyoming National Bank,
Wilkes-Barre, Pa,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

P H I L A D E L P H I A A S S O C I A T I O N of C R E D I T M E N
IN C O R P O R A T E D

O F F IC E

O F TELE

8 E C R E I4 R T

1011 C H E S T N U T

STREET,

Ph il a d e l p h ia .
PURPOSES

January 13 , 1914 ,

T O U N IT E C R E O IT M EN FO R T H E P R O P ER
P R O T E C T IO N O F M E R C A N T IL E C R E D IT .
F O R D IF F U S IO N O F ID E A S R E G A R D IN G
P R O P E R G R A N T IN G O F C R E D IT .
T O IN D U C E L E G IS L A T IO N F O R T H E
T I O N OF H O N E S T Y IN B U S IN E S S .
TO

O B T A IN

PROMO­

S E R V IC E

FROM M ER ­

TO
PR O SECU TE
FRAUDULENT
W HERE
D IS H O N E S T Y
APPEARS

F A IL U R E S ,
E V ID E N T .

C A N T IL E

IM P R O V E D

TH E

A G E N C IE S .

At a special meeting of rfche Board of Directors
of the Philadelphia Association of Credit Men, held
January 12th, the following Resolutions were unani­

T O P R O M O T E T H E IN T E R C H A N G E O F C R E D IT
IN F O R M A T IO N .

mously adopted:
Chas. D. J oyce,

p r e s id e n t

T H E A . COLBURN C O .

H. D. McCarthy ,

vice-president

T R A D E S M E N ’ S N A T IO N A L BANK

F rea8 B rown S nyder,

theasuher

F IR S T N A TIO N A L BANK

J. A. McKee , JR.,

S ecreta ry

1011 C H E S T N U T 6 T R E E T

DIRECTORS
J. A. Mc Kee ,
M ERC HAN T * EVANS C O .

C has G. Rapp,
V O U N O , S M Y T H , F IE L D CO

G. L. Levi,
S A M 'L S TE R N B E R Q E R O O .

D. G. Endy,
A R T M A N -T R E IC H L E R 0 0

WHEREAS: The Federal Reserve Act requires the es­
tablishment of no l e 8s than eight Federal Reserve
Banks throughout the country and "That the districts
shall be apportioned with due regard to the convenience
and customary course of business and shall not neces­
sarily be co-terminous with any State of States”, be
it therefore
R E S O L V E D : That Philadelphia with its large banking
resources, ranking second only to Hew York City, its
manufacturing pre-eminence, its wonderful commercial,
mining, transportation and agricultural interests, we
believe is entitled to be selected as a superior lo­
cation for one of the Federal Reserve Hanks; and be
it further

Chas. H. Wolf,
M ILLE R , B A IN , B E Y E R A C O .

A. W. PlCKFORD,
OIRARD N A TIO N A L BANK

David S. Ludlum,
T H E AU TO C AR C O .

Leonard W. B rown,
S HAN E B R 0 8 . A W ILSO N 0 0 .

C. S tanley F rench,
S AM L. H . FR E N C H * C O .

H. E. Moody,
R O Y A L— A 8 C 0 T K N I T T I N t t M ILLS

Adolph Ahrens, J

r.

L I P P I N C O T T , J0 H N 8 0 N A C O .

J . S pencer B rock,
F E I8 T E R -O W E N PRESS IN C .

j . W. Daniels,
A T L A N T I C R E F IN IN G C O .

C. L. McCalla,
H E 8 8 -B R IG H T M F G . C O .

Chas. T. T aylor,
W M . CRAMP A 8 0 N 8 , S H IP A
E N G IN E B L D Q . C O .

J

ohn

H. McC racken,
H A L P E N , G R EEN A C O .

w. K.

Hardt ,
F O U R T H 8 T . N A T L . BANK

J ohn

S.

McCay ,
W ELSBA CH COMPANY




R E S O L V E D : That inasmuch as the Secretary of the
Treasury has stated that he prefers he should be
visited only by delegations of bankers, tk&t this A s ­
sociation will not seek any direct communication with
the Organization Committee at Washington because it
has full confidence that the representative bankers
of this City will demonstrate to that Committee the
Justice of Philadelphia1s claims and see that the needs
of our city are properly cared for; and be it further
R E S O L V E D : That a copy of these Resolutions be sent to
the Clearing House Association of Philadelphia and to
the Press.

Reproduced from the Unclassified I Declassified Holdings of the National Archives




|

- P H I L A D E L P H I A -

1 E3S3EV2 I3A1IK H3C0I.U.::-’
!IMTICKS

Reproduced from the Unclassified / Declassified Holdings of the National Archives

H. A . R I C H A R D S O N ,

N o .1567.

J . S . C O LLIN S

Pr e s id e n t .

Ca s h ie r .

December 27, 1912*
Hon. W illia m G* MtfAdoo,
Chairman, f e d e r a l Reserve O rg an iza tio n Committee,
Washington, D* C*
Bear S i r :
Our Bank i s d e c id e d ly in fa v o r o f the s e le c t io n
o f P h ila d e lp h ia as a lo d a t io n f o r one o f the R egion al Banks*
Por the f i r s t twenty ye a rs o f the e x iste n ce o f t h is Bank
we d id a l a r g e . p a r t o f our b u sin e ss w ith Hew York, but f o r
the l a s t t h ir t y y e a rs our Bank b u sin e ss has been l a r g e l y and
alm ost e n t i r e ly done w ith P h ila d e lp h ia and we have only c a r r ie d
an account w ith Hew York f o r the purpose o f bein g a b le to f u r ­
n is h Hew York Exchange which i s fre q u e n tly c a lle d f o r * We
had an account f o r a few ye a rs w ith B altim o re, but found i t
p r a c t i c a l ly u s e le s s , and we have f o r the l a s t twenty years
done a t l e a s t 90^ o f our exchange b u sin e ss w ith P h ila d e lp h ia
and w ith v e ry s a t is f a c t o r y r e s u l t s .
C onsidering the s iz e and
importance o f P h ila d e lp h ia as a Bank cen ter we think i t would
be a mistake to not in clu d e i t as a R egional Reserve C ity*
I t i s g e o g ra p h ic a lly s p le n d id ly lo c a te d and e a s i l y a c c e s s ib le
to a l l p o in ts between Trenton, Hew J ersey, and Horth C a ro lin a ,
and i t seems to us v e ry much p r e fe r a b le to e it h e r Baltim ore
,or Washington*
Yery t r u ly yo u rs,
h

J f W * £ .. I



ANSW ERED

.. I

U

2
. __

« »»,

Cashier-*..... ‘
tFORM
,
—

J ........J
J#*****, f

Reproduced from the Unclassified / Declassified Holdings of the National Archives

W M .M .H A Z C L ,

A .I VJ . D A L_Y,

E L M E R OUTTEN,

Dee. 2 7 , 1913 .
The Committee for Organizing Regional Banks
and Selecting the Reserve Cities,
.•

*

-

Washington, D, C.
Dear Sirs: ^
We feel that the "business interest of Philadelphia and
contiguous territory is entitled to, and would he best served, if
one of the Regional Reserve Banks should be located in Philadelphia.
We especially feel tkat it would be to our institutions interest
if this could be done.
Hoping that you may see the iimport%a«# that we attach t©
this subject and that you will select Philadelphia, in which to
locate one of the Reserve Banks.
We remain




/
Yours truly,

9

Cashier.

F . L . H a r d e s t y , p r e s id e n t

J o h n H e y d . v ic e - p r e s id e n t

J . H . W h it a k e r , c a s h ie r

No. 9132

FIRST

NATIONAL. B A N K

ORGANIZATION COMMITTEE OF FERE1"!
WASHINGTON, D. C.
!*■

GENTLEMEN:We would suggest that you g i v e ^ ^ ^ ^ j E I J J K I A one of tho
REGIONAL BANKS and would ask that NEW JERSEY and DELAWARE be included
in the district to be served by this bank. As the most of our business
is done with PENNSYLVANIA and NEW JERSEY we are naturally anxious to
see PHILADELPHIA made a center for the banking interests of this section.
Trustinr that you will give the above due consideration, I remain




Reproduced from the Unclassified I Declassified Holdings of the National Archives

EVERETT

HICK M A N ,

P r e s id e n t

RO BERT W ILGUS,

V ic e - P r e s i d e n t

C H A R L ES R . D A V IS,

8918

CAPITAL, $25,000

Jfftrai N a t i o n a l

lattk

of Jffrattkforb.
FRANKFORD, DEL

cr~~~^cy
$$J2j£s<a^—

os'/




/

C a s h ie r

' Reproduced from the Unclassified / Declassified Holdings of the National Archives

EV E R E T T H ICKM A N,

P r e s id e n t

RO BERT W ILGUS,

C H A R L E S R. D A V IS,

V ic e - P r e s i d e n t

891 8

CAPITAL, $25,000

atyr J t a i

National
of JJrattkforfc.

f



^£< ljvL -

l a n k

C a s h ie r

^ ^ ^ ^ ^ th ^ n S ^ ^ ^ ^ Ia s s ! fe ^ o W in g ^ ^ ^ a t !o n a ^ A r c h h ! e r




-5

CJJ
o&
8 :

1*

3 m
m
3
-«►-£*
M m
£f %
so
^
3
*o*! £§
^1 V?
^
.

—

N|

£ f'S
sH 5D
to m

e 2
^Biso
«C *%

Reproduced from the Unclassified / Declassified Holdings of the National Archives

L . L . L A YTO N , President.
G . ROLAND M ESSIC K , A s s t . Ca s h ie r .

CAPITAL, $ 3 0 ,0 0 0 .
SURPLUS, $ 1 5 ,0 0 0 .

G E O . W . JO N E S , Cashier.

o:

GEORGETOW N, DELAWARE.

Jan'y 8, 1914*
The S o n or able ,
lb

Secretary of the Treasury, ,

t -i ^ -10,14

Washlnfton, D. G.
X'dTL
__

S ir :

1

The First National Bank of Georgetown, Georgetown, Delaware, would
most respectfully urge upon you the advisability of locating one of the
Reserve Banks in the City of Philadelphia.

The position of that city in the

financial world is established as shown by its Banking transactions*
an established

money

It is

centre, and to remove the usual deposits from that city,

w M c h would be required if no Reserve Bank was established at that point,
would seriously disturb the established movement of money, and disturb, if not
end, financial associations of a confidential nature, which have grown up as
the result of years of intimate business associations between Banks.

The

removal of the large reserve deposits now carried in Philadelphia must neces­
sarily affect the loaning capacity of those Banks, to the consequent detriment
of business there and the territory intimately associated with that city through
its business ramifications.

The established system of Bank collections would

be disturbed to the inconvenience of all concerned*
This part of this State does all of its business practically, through
Philadelphia, and for the above stated reasons is vitally interested in having
Pi,-ladelphia continued as a Reserve centre.

While we realize that we are a

very small part of this great country, we respectfully submit that above reasons
which apply to us here, apply generally*
money centres by undertaking to move them is to



Respectfully,

To disturb the established
‘”

Reproduced from the Unclassified / Declassified Holdings of the National Archives

w.

P. O R B , Jn. Pmrnmtn

H . K . G R E E N E , C a s h ie r

TWO®. C . H O R S E Y , V ic e P r e s id e n t

C A P IT A L *1 5 0 ,0 0 0 .

Laurel, Delaware,

December t w e n t y - s e v e n t h
N inteen hundred, t h i r t e e n

H©n. W i l l i a m . :G. McAdoo,
S e c r e t a r y ®f: rthe T r e a s u r y ,
W ashington,

D.C

S ir:?/e w i s h t o p r e s e n t t@ y©u and t h e F e d e r a l R e s e r v e B e a r d ,y@t
t© be c r e a t e d ,

what we deem t o be a v e r y i m p o r t a n t m a t t e r . We s h a l l

aim t o do t h i s i n a s few words a s i s p o s s i b l e .

We b e l i e v e i t t o be ©f t h e g r e a t e s t i m p o r t a n c e

t h a t you s h c u l d

r e a l i z e t h e n e c c e s s i t y o f t h e e s t a b l i s h m e n t o f a R e s e r v e Bank i n t h e
c ity of P h ilad e lp h ia .
T h i s c i t y o c c u p i e s a commanding p o s i t i o n w i t h r e f e r e n c e t o a l l
b u s i n e s s ©f t h i s s e c t i o n , a n d t h e r e c a n be n© d o u b t t h a t o u r b a n k s
would s u f f e r g r e a t i n c o n v e n i e n c e a n d d e l a y i n t h e e v e n t ©f c o m p u l s a t o r y
c learan ce through o th e r c i t i e s .
T h a n k i n g you f o r y o u r a t t e n t i o n t o t h i s m a t t e r ,
Very t r u l y

we r e m a i n ,

yours
C ashier.

ANSW ERED




1914

Reproduced from the Unclassified / Declassified Holdings of the National Archives

"W m .IV O h b , , J h . . P i u s s t .

G A i’IT ^L li

$

T h O S .C .

3I o I 4S E Y , ' V 5: o e P r b s t

T h O S .R .IN G R A M ,T ru si

0 0 .0 0 0 .0 0 .

O fp jck ti. .

S U E tP lX T S A JT O P R O F I T S $ 1 2 5 , 0 0 0 . 0 0 .
U N IT E D

STA TES

D E P O SIT A R Y

Th e S i t s s k x Tr u s t Go m p a n y
Le

w

e s

,De

i .a w

a r e

,

Jan 13th, 1914
Hon. W. 6. McAdoo,

Secretpry o f Treaauery

Regional Bank L o c a tio n .

Honored s i r s *
We i n

desire to add to our fo n a e r l e t t e r re q u e s tin g that

a Regional Bank b© located at Philadelphia, that Delaware be in cluded in
the Philadelphia District*
Please do not tag us on to Hew Tork or tttli i « i p t o i x x o x x x
£&ltlmore. It would toe a handicap in many ways^especially that o f ra p id
connection®. Philadelphia can give a ue the beet service far and away ahead of
either of the other cities* and time saving is a great fa c t o r in the tra n s­
mit t ion of our reserve and clearing business.




Trusting that the cong&ittee will give ue the b e n e fit o f the

Kespec

Reproduced from the Unclassified I Declassified Holdings of the National Archives

W m .P . O h .h ,,J k ..P ju e s t.

G A P IT A 1

$

T h O S .C H

o

T h t o s . R . I n g r a m ,T«.u s t O f f i c e t i .

R S E T Y V ic e P m k s t

WTrui’ i-irs

e o . 0 0 0 .0 0 .

U N IT E D

STA TES

and p r o p it s

$ 12 5 ,0 0 0 .0 0 .

D E PO SIT A R Y

S itsskx Trust Co m pa n y
I.K V V K S , D

Wm. > . KoJMtoo,

k

L A W .V R ! '. ,

Dec 30th 1913

isaretary of the Treasury,
Washington, D. C«

u

Dear s i r *

i

We would urge upon you the importance to this Delmarvla p en in su la
of the location

of one of the Regional Banks under the new system at

Philadelphia* This peninsula lying between the two bays covers q u ite a
scope of territory and fey reference to its geographical lo c a t io n you w i l l
readily eee that the perfectly natural drift of its b u sin e ss i s to P h ila ­
delphia* We ean get the best dispatch of our business a t th is p o in t as
for one things our trains are direct; there Is no transfers o f m a ils , they
reach that slty in a few houre a f t e r leaving our banking houses. A gain i t
is econoaloal %n sany little ways for us to send mar b u sin ess to P h ila d e lp h ia
We have always kept our re s e rv e in th at elty, and in our op in io n the e s t a b lis h
sent of one of the Regional Banks there would be right and p ro p e r. Phi lade lr&a
i s the cen tre o f a lajpger^liope of our countftjMfcnnayl vani a , H orfhern Maryland,

thfes peninsula cojtpris/ng Delaware, Eastern Shore o f Maryland and the V ir g in ia




Cheasapeake Bay; a n t r a l a n d southern J e r s o y -a ll
tineas to Philadelphia b e c a u s e o f i t s lo c a t io n ,
adelphla would serve the b e s t purposes o f the
cal standpoint, not M e n t i o n i n g t h e la r g e a b i l i t y
nt»

tv!i4

\

R e s p e c tfu lly youra.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

M I D D L E T O W N ,

D E L

To the Secretary of the Treasury,
Washington, D. C.
Dear Sir:We respectfully request that you will
favor Philadelphia as one of the regional
reserve banks. It will be a great convenience
to the banks on this peninsula, including the
Eastern shore of Maryland two counties of
Virginia and the State of Delaware.
The banks in this district use Philadelphia
as their reserve agency.
Very Respectfully

ANSW ERED
JAM 7 *4914
FORM




!___i

Form

Reproduced from the Unclassified/Declassified Holdings of the National Archives

JAS. D . DA.VIS

G E O R G E L .T O W N S E N D , PRES-

J R .C A S H IE R

T H O M A S C. C R U IK S H A N K , V

.P R E S .

3010
D IR E C T O R S

d ir e c t o r s

G E O R G E L ,T O W N S E N D ,
TH O M A S C. C R U IK S H A N K ,'
J . F R A N K EL1ASON
J E F F E R S O N B .F O A R D

F R E D . BRADY

PeoplesKaiional Bank

B rC H AR Q T. CANN
FRANK R. POOL

C A P IT A L

$ 8 0 ,0 0 0 .

C M A S .H .S A L M O N .

'K

SURPLUS

$ 4 -0 .0 0 0 .

JOHN

F. ERNEST

EDW ARD HART.

M i d d le t © w n .? I > e l 0 January 2nd. 1914
Committee f o r O rgan izin g R egin al Banks,
Washington D. C.
Gentlemen:
In view o f the lagge amount o f b u sin ess

t h is I n s t it u t io n

has long conducted th»ough P h ila d e lp h ia banks, we wish to

emphasize

the importance o f naming P h ila d e lp h ia as a re se rv e C ity , which would be
a mutual advantage to o u r community.




X

';

Reproduced from the Unclassified I Declassified Holdings of the National Archives

R. H . W IL L IA M S ,

2340

P r e s id e n t.

C A P IT A

3 0 ,8 0 0 .

-

j . B. S M IT H ,

S U R P L U S A N D P R O F IT S . $ 1 7 0 ,0 0 0 .

$f>e ffirst Batfonal Bank,




M IL F O R D , D E L .

C a s h ie r .

from the Unda§sffl£tff Declassified Holdings of the National Archives

J. C. E L L IS ,

J. R. G O D W IN ,

H. A . H O U S T O N ,
P. S. SH O C K LE Y ,

T h tjs t O f f i c e r

P h h s id e n t .

W . B L A IN E A T K IN S ,

VlCE-PBESIBE^S.

A sst. T h c s t O f f ic e b .

A N D SAFE DEPOSIT COM PANY

MIL

C A P IT A L , $ 2 8 ,0 0 0

M

e lls b o r o

, D

e l

-

( (/ c.rtcc^

■^1

\ *Scn>C),
sQ)

»

sp

/

DEC 27 1913

.

--

.

/
^

191

y

/ —1h~& j

C4-St^1L-/
CL < ^ ^

'LA-*'-

**
(7 J%

^t-c)

r 7< * ^ < -iv'-.
r

jANSVVbREDj
••',?! 7

:" O H M




1914

I

t

1

feftfociuced from the Unclassified I Declassified Holdings of the National Archives

H. A . H O U S T O N ,
P. S. S H O C K LE Y ,

J. R. G O D W IN ,

J. C. E L L IS ,

P r e s id e n t .

T r u s t O f f ic e r

W . B L A IN E A T K IN S ,

V ic e -P r e s id e n t s .

A s s t . T r u s t O f f i c e n.

MILLSBORO TRUST A N D SAFE DEPOSIT COM PANY
C A P IT A L , $ 2 8 ,0 0 0

M ills b o b o , D e l.

t

191

<<- y f S

«£/ e
r

s s / / V f s sf s <




’J.A-Sf 1 4 19!4

4

S
s?

*/< y'fr’
) r<
**/

^

i^

C^'?’ fa st c

x’ J^ k ^ L o

IT™-

-

.

„

Reproduced from the Unclassified I Declassified Holdings of the National Archives

C a p ita l
SUKPLU8

$7 5 ,0 0 0 ,

4 0 ,0 0 0 .

etc

1281

D A N IE L W . COHBIT, P ke
M E R R IT T N . W I L L I T S , V ice P kesidknt.
JO SEPH G. B R O W N , Cashier .

jfatiimal | mtli of
0 deMa,

Jan.8th, 1914 *

Hon. W.G.McAdoo, Chairman o f the Reserve Bank
O rg an iza tio n Com m ittee:-

J

W ashington, B .C .
Dear S i r l The Board o f D ire c to rs o f the
New C a s tle County n a tio n a l Bank o f O dessa9

Del*

a t i t s annual meeting , y e sterd a y , i i f f i l i m r t y
v o ice d t h e i r • • n t la e n t s In p a s sin g the f o llo w in g
R e s o lu tio n s -

th at we r e s p e c t f u lly recommend

to the Reserve Bank O rg a n isa tio n Coianittee, the
g rea t importance o f p la c in g one o f the R egional
Reserve Banks l a the C ity o f P h ila d e lp h ia .
T h is Bank , ever sin ce I t became a
N a tio n a l Bank in 1865, has h eld i t s re se rv e
w ith the P h ila d e lp h ia , N a tio n a l Bank, any change
t h e r e fo re would s e r io u s ly in t e r fe r e w ith our w e ll
e s t a b lis h e d custom and in li k e manner would
d is t u r b a l l the o th e r R atio n al Banks o f t h is
P e n in s u la .




% Respectfully yours.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

oi^mfxxxb
P . L . CAN N O N ,

PR ES ID ENT

G .W . E M E R Y ,

D . J . FOOKS,

VICE PRESIDENT

H .W. BAK E R ,

/

M A D IS O N

W IL L IN ,

GEO. H . S H I P L E Y ;

VICE P R E S I D E NT
VIC E

PRESIDENT

C ASHIER
ASS’ t

CASH I ER

!

December 30th, 1913 .
Hon. ¥• G. McAdoo,
Secretary of The Treasury,
Washington, B. C.
Honorable sir
Insomuch as practically all our items on
banks beyond Wilmington, Del., are collected through the
Philadelphia Banks to us it seems a most important matter
that Philadelphia should be favored with tlie location of
one of the Regional Federal Reserve Banks, This being more
or less true of the "banks of this Del-Mar. Peninsula may
we not beg of your committee that the said city be given
your most careful consideration and if possible favorable
decision. For us to be put so far distant as Hew York or
Washington from the Reserve Bank would of necessity com­
pel a much less general use of such institution hence the
request that Philadelphia may have every possible chance.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

J . J . ROSS, PRESID E N T.

W . H . S t e v e n s , V ic e - P r e s id e n t .

C l a r e n c e D o n o h o , C a s h ie r .

3693.

Bubmx National Sank
Seaford, Delaware.

Januarjr 13 ^ 1914

To the K 3SERV 72 EA 1IK 0RGANIZATI 01I OOMHITPEB,
Washington,, D* 0 .
Dear Sire :«*~I enclose herewith resolution adopted b y tho
Board of Directors at its regular neeting held Jro~day. I
am ftrthor instructed by the Board to request that a Re~
gional Reserve Bank be located in Philadelphia and that
Delaware be included in the Philadelphia B a n k ’
s District.




IP K g g H W ^ ——

^

^

^

—IW
—

..- llll'ilil I .

l-yj"*l-- 'J!J-

^■V',-^' •’1-■■‘*- -' u

--"M
."i-*■*—
—
m'v*.■

Reproduced from the Unclassified I Declassified Holdings of the National Archives

2336
W .O .H O F F E C K E R ,

S . G . W I L.D S ,

p r e s id e n t

c a s h i

er

THE F R U IT G R O W E R S N A T IO N A L B A N K
S M Y R N A ,D E L .

Smyrna, Del., Jan. 1 , 1914 ,
Hon. William G. McAdoo,

--- tf***'*

Secretary of the Treasury, ^:r..
Washington, D. C.

1...... .......... .— 5

V

Dear Sir:
At a meeting of the Board of Directors of the Ffuit Growers
National Bank of this town, held on Tuesday December 30 , the Board
unanimously instructed me , the President of this Bank, to write you
respectfully urging the selection of Philadelphia as one of the cities
in which to establish a Federal Reserve Bank.

Philadelphia is so

readily accessible to us, and is the large city with which the people
on this peninsula, especially those living on the Eastern side thereof,
have commercial relations.
From the organization of this Bank to the present time,.
Philadelphia is the city in which we have kept our reserve and through
our reserve agents in that city, have collected our foreign checks,
and we are sure that there are many banks on this peninsula whose
experience is similar to ours.
It will be most inconvenient for us to be obliged to keep
our reserve either in New York or Baltimore, and because of the size
and importance of Philadelphia in the commercial world, we hope very
much you can see your way clear to select this city as one of the cities
in which to establish a Federal Reserve Bank.




Very truly yours,
The Fruit Growers National Bank.

President.

TO■m..I^JUIUJ

Reproduced from the Unclassified I Declassified Holdings of the National Archives

State of D e la w a r e
E x e c u t iv e D e p a r t m e n t
D OTE R

Jan. 19 th, 1914

As Chairman of the Executive
Committee of State B ankers’Association, of the State
of Delaware, and on behalf of the entire banking fra­
ternity of our State, I herewith enclose resolution
passed by the Board of Directors of the Chamber of
Commerce of the city of Wilmington, which I neglect­
ed to file with you when we had audience with you and
Secretary Houston last Friday, at which time you were
kind enough to suggest that I forward same to you by
mail.
With renewed evidence of my high
esteem, I beg leave to remain,

Governor State of Delaware*
Dictated, written and
mailed in Wilmington,




Reproduced from the Unclassified I Declassified Holdings of the National Archives

C ham ber o f C om m erce
W ILMINGTON, DEL.

January 14 , 1914 ,

Delaware State Bankers' Association,
CITY,
Sirs
This is to certify that at a meeting of
the Board of Directors of the Chamber of Commerce,
held upon the 13> h instant, a motion was adopted
recommending ^liat the Secretary of the Treasury select
PhifladelphiaJror the location of a regional reserve
bank under the provisions of the Owen Glass Currency
Bill recently passed by the National Congress.




Yours very truly,

President.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

C ham ber o f Com m erce
W ILMINGTON, DEL.




January 15 , 1914

Hon. William G, McAdoo,
Secretary of the Treasury,
Washington, D. C
Sir:
This is to certify that at a meeting of
the Board of Directors of the Chamber of Commerce,
held upon the 13th instant, a motion ?,ras adopted
recommending that the Secretary of the Treasury select
Philadelphia for the location of a regional reserve
bank under the provisions of the Owen Glass Currenoy
Bill recently passed by the National Congress,

Secretary

Reproduced from the Unclassified I Declassified Holdings of the National Archives







Reproduced from the Unclassified I Declassified Holdings of the National Archives

J . ER NES T SMITH
p r e s id e n t a n d

HA R R Y W . DAVIS

w illia m

D elaw are T

rust

Company

N. E. CORNER NINTH AND MARKET STS.
C A P IT A L P A ID IN, $ 1 0 0 ,0 0 0

S U R P L U S , $ 1 2 0 ,0 0 0

B A N K IN G D E P A R T M E N T

December 2 6 , 1913

W ilm in g to n , D e la w a r e

Hon. W. G, McAdoo
Secretary of the Treasury
Washington,
D. C.
Dear Sir:The New Currency Act having become a law, we
write to urge the naming of Philadelphia as one of the
Federal Reserve Cities, in the interests of this
section of the country.

As you are aware, the Bank

and Trust Company resources of Philadelphia total Seven
Hundred Sixty Million Dollars, and very many more
Millions are tributary to Philadelphia.

We believe it

is essential to the interests of Delaware and the Delmarvia Peninsula that Philadelphia should be designated as
a Federal Reserve City.
Trusting that your investigations may prove
our conclusion a correct one, we are
Very tru1v

Diet* WGT-IRB




G . Ta y l o r

v i c e -p r e s i d e n t a n d t r e a s u r e r

V IC E -P R E S ID E N T A N D S E C R E T A R Y

g eneral counsel

wmito

Treasurer

Reproduced from the Unclassified I Declassified Holdings of the National Archives

l U i z i i w e T O W T s m s m

G a B n r a s n r

/
P R E S I D E N T ’S

Dec. 27 , 1915 .

O F F IC E

Hon. William G. M c A & o o ,
Secretary of the Treasury,
Washington, B. C.
Sir:The bankers of Philadelphia are extremely anxious that
that city m a y receive full recognition in the selection of Federal
Reserve Cities.
We recognize that Philadelphia and lew York are very near
together and that it m a y “
be difficult to so regionally divide the
country as to enable Philadelphia to be appointed as a Federal
Reserve City.

On the other hand, Philadelphia is a very great city;

the resources of its banks and trust companies total over $ 750 ,000 ,000 .
and many more millions of dollars of deposits are naturally tributary
to Philadelphia, the State of Delaware being so included, and nearly
all of the banks in this State keeping reserve accounts in that city
and having close business relations with the citizens of that
community.
We are writing simply to call your attention to the claims
of Philadelphia to be appointed as one of such reserve cities, and
believe it would prove to the interest of our Stste should such
selection be made.




Yours respectfully,

3395.

62-6

62 -6

,ST “ %IWWW,

;r

■u- /

J a n u a r y 6, 1914.

i\ M

: 7 1914
F il ;

Hon, S e c r e t a r y of A g r i c u l t u r e ,
Washington, 3D. 0.
Dear 3 i r : ---How t h a t the new Currency Act has become a Law t h e
s e l e c t i o n o f F e d e r a l Reserve C i t i e s w i l l be i n o r d e r , and
i t i s g r e a t l y t o be r e g r e t t e d t h a t rev; York and P h i l a d e l p h i a
a r e in so c l o s e p r o x i m i t y as to give i i s e to the th o u g h t
of e l i m i n a t i n g e i t h e r one or the o t h e r in oe in&’ t he choice
of a Reserve City*
What we of Delaware want and much d e s i r e t o see
(and we b e l i e v e we v o ic e the s e n tim e n t of the e n t i r e s t a t e of
Delaware and P e n i s u l a ) , i s the s e l e c t i o n of P h i l a d e l p h i a as
a F e d e r a l Reserve C i t y ; a c i t y of g r e a t m a n u fa c tu r in g e n t e r ­
p r i s e s and v a s t r e s o u r c e s , approxim ating n e a r l y one b i l l i o n
d o l l a r s w i t h ban!: d e p o s i t s , of t h r e e hundred m i l l i o n d o l l a r s ,
which j u s t l y e n t i t l e s i t to a f i r s t p l a c e among th e g r e a t
c i t i e s of t h i s c o u n t ry .
The s e l e c t i o n of P h i l a d e l p h i a would be a boon t o
hundreds of Banks a d j a c e n t i n P e n n s y lv a n ia , Hew J e r s e y , Delaware
and the E a s t e r n Shore of M aryland, as i t s t a n d s in the same
r e l a t i o n a s a D. P. 0. ( D i s t r i b u t i n g P o st O f f i c e ) , — a v e r i t a b l e
C le a r in g ouse f o r th e Banks of t h e s e d i s t r i c t s , and t o ig n o re
or e l i m i n a t e t ‘ a t C i t y , would work d i s a d v a n t a g e o u s ^ t o us a l l .
We a l l want P h i l a d e l p h i a named f o r a F e d e r a l Reserve
C i ty and r e s p e c t f u l l y a s k your co-ope: *at ion and suioport i n the
f u r t h e r a n c e of our r e o u e s t .
Ve ry t r u l y yo u r s ,

hph/ icip .




Eon. Comptroller of the Currency,
Washingt o n , D . C •
Dear Sir:-*—
H o w that the new Currency Aet has become a Law the
selection of Federal Reserve Cities will he in order, and
it is greatly to he regretted that ITew York and Philadelphia
are in so close proximity as to give rise to the thought
of eliminating either one or the other in being the choice
of a Reserve City.
What we of Delaware want and much desire to. see
(and we believe we voice tho sentiment of the entire state of
Delaware and Penisula), is the selection of Philadelphia as
a Federal Reserve City; a city of great manufacturing enter­
prises and vast resources, approximating nearly one billion
dollars with bank deposits of three hundred million dollars,
which justly entitles it to a first place among the great
cities of this country.
The selection of Philadelphia would be a boon to
hundreds of Banks adjacent in Pennsylvania, Hew Jersey, Delaware
and the Eastern Shore of Maryland, as it stands in the same
relation as a D. P. 0 . (Distributing Post Office), — a veritable
Clearing House for the Banks of these districts, and to ignore
or eliminate that City, would work disadvantageously to us aLl.
We all want Philadelphia named for a Federal Reserve
City and respectfully ask your co-operation aid support in the
furtherance of our request.




V e r y truly yours,

" ' R§j5f&8al&d from the Unclas'sifiBd'/ D&ctassified Holdings of the National Archives

Jamjar7 6th, 1914-.

Eon* Seorotary of the, treasury,
7/ashington, D . C •
Soar Sir:--U ow that the new Currency Act has bee ome a Law the
selection of Federal Reserve Cities will be in order, and
it is greatly to be regretted that ITew Y ork and Philadelphia
are in so close proximity as to give rise to the thoiight
of eliminating either one or the other in ’
’
.oing tho choice
of a Reserve City*
Tuat we of Delaware w ant and ranch desire to see
(and we believe we voice the sentiment of the entire state of
Delaware and Penisula) , is the selection of Philadelphia as
a Federal Reserve City; a city of great manufacturing enter­
prises and vast resources, approximating nearly one billion
dollars w i t h bank deposits of three hundred million dollars,
w h i c h justly entitles it to a first place among the great
cities of this country.

The selection of Philadelphia wcr.ld be a boon to
hundreds of Banks adjacent in Pennsylvania, ITcv; Jersey, Dolar/are
and the Eastern Shore of M a r y l a n d , as it stands in the same
relation as a I). P. 0 . (Distributing Post Office), — a
v e r i t y le Clearing House for the .aanbs of those districts,
and to ignore or eliminate that City; would work disadvantageously to us all.
Wo all want PhiladoIphia named for a federal Reserve
City .and respectfully ask your co-operation and support in the
furtherance of our request.




V e r y truly yours,




S in -

1 beg to aofrnowledg* th® receipt of youar favor
of t3» £0tJi u l t i m advooatlag Ftsilftdalphia a» »
proper location of a ?«d«r&X re*«nre bank to c«rre
imamwm*
1I ihall tako ploaaure in oalltisg tim natter to
th» attention of tlie Ccnmitteo i^posd its return tram
Wm Weet irhen It ta*a* thte nutter up for conaldoratlon#
Bfi*p«ctfullyw

Seoretaarjv
n w o rte Book Or&ml sation Coflmittee*

n on#

i?XciRjcai i i jnroGjwosigr

iwOwP or Koprwpw® wR«iw§t

—

II, ijiiiuii.... I..
wmmmsammmmmrnmm
Reproduced from the Unclassified / Declassified Holdings of the National Archives

F R A N K L IN B R O C K S O N
AT L A R G E , D E L A W A R E .

Ijmtse of
{|ff;tsi]in4ton,0.(!r.

U.S.
January 28th 1914 .

^?2i0 Reserve Bank Organization Committee,
Washington, D. 0 .
Gentlemen:
My constituents much desire that a F^tferal Reserve
Bank be located in the oity of Philadelphia/'rennsylvania.
The citizens of Dela?/are transact more business, both banking
and commercial, in Philadelphia than they transact in any
other citjj outside of our State.
I submit that the millions of dollars deposited in
the banks and the millions of dollars used to carry on the
manufacturing business and other commercial enterprises in
Philadelphia and vicinity show that there will be great need
for a Federal Reserve Bank in that city.
In behalf of the citizens of Delaware I respectfully
urge and request that a Federal Reserve Bank be located in
the city of Philadelphia, Pennsylvania.




Very respectfully,

Reproduced from the Unclassified I Declassified Holdings of the National Archives




Reproduced from the Unclassified I Declassified Holdings of the National Archives

A tla n tic C ftu C h a m b e r a f C o m m e rc e
BARTLETT

B U IL D I N G

T L A N T IC C IT Y , IV. J.

J O S E P H A . M c N A M E B , P r e s id e n t

TRUSTEES

W . B L A I R S T E W A R T , M.D., F ir s t V ig b -P r e s .

S. O J S E R K IS

E D W A R D A . W I L S O N , SECOND VlCE-PKBS.

C H A R L E S M . S P E ID E L

C L E M E N T J. A D A M S , T h i r d V ic e - P h e s .

E D W A R D S. L E E

B E N J. B A C I I A R A C II, TREASURER

H O W A R D R. C L O U D

W . B. D IL L , S e c r e t a r y

JO H N T. F R E N C H

E L I H. C H A N D L E R , SOLICITOR




January 2 6 , 1914 *

Hon. William McAdoo,
Secretary of the Treasury,
Washington, D. C.
Bear Sir;
Enclosed herewith is copy of resolutions
adopted "by the Chamber of Commerce at a m e e t i n g
held January 23 , 1914 , endorsing.J?hiladelphia as
a point to be selected for a regional bank.
Very trul}',

‘
resident,
McJT-HK

Reproduced from the Unclassified I Declassified Holdings of the National Archives

At a m eeting o f the Chamber o f Commerce o f
A t la n t ic C ity , h e ld on January 23, 1914, the fo llo w in g
Preamble and R eso lu tio n were ado p ted:WHI2B15A8 the F ed e ra l He serve O rg a n isa tio n Committee
In Washington i s c o n sid e rin g the lo a & tio n o f not l e s s than
e ig h t nor more than tw elve F e d e ra l Re&erve Banks to be
p lac ed In d i f f e r e n t c i t i e s o f the U nited S ta te s w ith *due
re g a rd to the convenience and customary course o f b u s i­
n e s s *, and
U1IBBEAS the C ity o f P h ila d e lp h ia , the m e tro p o lis
o f PennjBjilvania and the g re a t b u sin e ss cen tre f o r
Southern Hew J e rse y , by i t s g re a t banking re so u rc e s,
v a r ie d m anufacturing and b u sin e ss in t e r e s t s and unusual
r a i l r o a d f a c i l i t i e s i s the n&tferal lo c a t io n f o r a
F e d e ta l Reserve Bank, be i t th e r e fo re
HKSOLVKB, That we most r e s p e c t f u lly urge the
O rg an iza tio n Committee to g iv e fa v o r a b le c o n sid e ra tio n
to the a p p lic a t io n o f P h ila d e lp h ia f o r one of the
F e d e ra l Beserve Banks.
v; ]^SOXOTB,vThat a oopy 'o f t h # w refeolutions be
forw arded to the O rg an iza tio n Board a c tin g under the
F e d e ra l Reserve A e t,




pwp— ------------

- ■'■■■

Reproduced from the Unclassified I Declassified Holdings of the National Archives

A L L E N B. E N D IC O T T , P r e s i d e n t
T H O M P S O N IR V IN , V IC E -P R E S ID E N T

C A PITA L, $ 1 0 0 ,0 0 0 .0 0
S U R P L U S A N D NET P R O F IT S , $ 1 * _ . 0 0 0 . 0 0




J . M. A I K M A N , C a s h i e r

U N IO N N A T IO N A L B A N K
/

O P A T L A N T IC C IT Y . N . J.

A T L A N T IC C IT Y , N. J.,

Dec.

h,

S ecretary o f the Treasury,
W a s h i n g t o n , D. C.
Dear S i r :
P h i l a d e l p h i a i s such a la r g e b u sin e ss
c e n t r e a n d so s t r o n g f i n a n c i a l l y ,

t h a t i t w o u ld

seem a p r o p e r C i t y t o d e s i g n a t e a s one o f t h e
F e d e ra l Reserve C i t i e s .
th is.

We s t r o n g l y

recommend

1913.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Hon# W« Gr. M o Ado o , Secretary of the Treasury.
Washington,

D. C*

Dear Sir:
In reference to the n e w currency bill recently made a law
providing not less than eight or more than 12 Federal Reserve Banks.
We would respectfully urge that you use your influence in
having Philadelphia named as a Reserve Bank city.
t

We think that,
.

owing to its geographical location and standing as it does the third
city of the United States in population- and also in banking, it is
important and practically necessary to have a Reserve Bank located
there.
Assuring you of our willingness to be with you in this move­
ment, we beg to remain




Oashier,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Guarantee Trust Company
C A R L T O N GODFREY, p r e s id e n t
H E N R Y W. L E E D S , f i r s t vice p r e s id e n t
D A N I E L S . W H I T E , SECOND VICE PRESIDENT
M E R M AN M. S Y P H E R D , THIRD VICE PRESIDENTfl. TRUST OFFICER.
C H A R L E S h. J E F F R I E S , s e c re fa ry a tr e a s u r e r .

C A P IT A L

6 0 0 ,0 0 0 .

1/6 /li

A t l a n t i c C ity,N.J.
Hon.

$

S U R P L U S $ 3 3 0 .0 0 0 .

Wm. G. McAdoo,
Secretary of the treasury,
Washington, D. 0 ,

My dear Sir:

IA N S W E R E D
I

8 1914
/?
\ /y

form

z r

o
~""t
O'

I am writing to urge that one of the Regional Reserve
Banks under the Federal System be located in Philadelphia.
Nearly all of the financial transactions between Atlantic Oity
and other cities have always been conducted through Philadel­
phia because the banking institutions of this Oity have found,
from actual experience, running through a long period of years,
that the large Philadelphia Banks acting as reserve depositories
have excellent management*
The prevailing interest rates in Philadelphia have
been much more uniform than in many other cities of the same
size; also Atlantic Oity is from 60 to 75 minutes from Philadel­
phia by train and the real protection which this nearness of
location gives to the Banks of Atlantic Oity, as well as the
uniform courtesies and accommodationsjwhich they have extended

/

to our Banks and the facilities which they have furnished us
in collecting our outside items promptly and upon proper terms,
are sufficient reasons to cause this institution, as well as
all other Banks in Atlantic Oity to earnestly
al Bank be established in Philadelphia.




__ _a Keg
ion
WWwwaww

iForm ^

4

W — ^

g

j

8M
W
W
l"<"■■..-*-- -VHl-tt-:.??.':v-^^uiiuJi)^.i»jui»,jI..i^|^.-I..u.-i I.,|,I..I.^_-.1J., .—

L.•
-A'WT^H6^«W
§BV'

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Guarantee Trust Company
C A R L T O N GODFREY, president
H E N R Y W. L E E D S , first vice president
D A N I E L S . W H I T E , second vice president
H E R M A N M. S Y F H E R D , th ir d vice p re s id e n t & t r u s t o fficer.
C H A R L E S H. J E F F R I E S , s e c re ta ry & tr e a s u r e r .

C A P IT A L

$

6 0 0 ,0 0 0 .

S U R P L U S $ 3 3 0 .0 0 0 .

A t l a n t i c C ity,N.J.
#2

We c o n s i d e r i t

very im p o rta n t to our i n t e r e s t s t h a t

t h i s be d o n e .
The B a n k in g I n s t i t u t i o n s o f A t l a n t i c C i t y h a v e a n
a g g r e g a t e c a p i t a l o f $ 1 , 6 0 0 , 0 0 0 . 0 0 , a s u r p l u s and u n d i v i d e d p r o ­
fits

s l i g h t l y more t h a n $ 2 , 0 0 0 , 0 0 0 . 0 0 a n d a v e r a g e d e p o s i t s o f

more t h a n $ 1 1 , 0 0 0 , 0 0 0 . 0 0 .




Yery r e s p e c t f u l l y ,

^

^

■— m— —SB—u—1.. . ■ iy I

...,7-..,-,i_.r-.-lL..:.I.I... .,. . .■.„

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C H A S . A. ST>A.TJLr>I3SrG

E . B . H U T C H IN S O N

P r e s id e n t

C

a s h ie r

jFarnm*s National lank
A U e n lo n m , 2?.

3.

Allentown, N. J., Deo. 29 , 1913 .
The Committee fDr the Organization of Regional Banks,
Washington, D. C.
Gentlemen:

*
L

On behalf of The Farmers national Bank, Of
Allentown, N. J., I would solicit your favoralble con­
sideration to Philadelphia, Pa., as a city for the lo­
cation of one of the Regional Banks, as we find it most
convenient, as well as a number of other banks in this
state, to transact a great portion of our business through
Philadelphia.
Believing and trusting in your favorable con­
sideration of same, I remain




jQ

.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

A

s b i t r y

II i

k k

T

r u s t

(>o

m

P zL \ t

Agnswrsar JRajeckJ?', J.

Dear S i r :
We r e s p e c t f u l l y s u b m i t t o t h e R e s e r v e
Bank O r g a n i s a t i o n Com mitte e t h e a d v a n t a g e s o f l o ­
c a t i n g one o f t h e R e g i o n a l R e s e r v e Banks i n P h i l a ­
d elphia*
T h a t OJity h a s s e r v e d a v e r y l a r g e t e r r i ­
t o r y i n t h e b a n k i n g f i e l d a n d t h e h a n k s t h e r e h ave
alw ays o o l l e o t e d a t p a r t h e checks o f t h e i r c o r r e ­
s p o n d e n t s * I t wou ld seem f r o m p a s t e x p e r i e n c e t h a t
th is is a lo g ic a l reserve c e n te r.
We b e l i e v e t h a t t h e g r e a t number o f b a n k s
w h i c h h a v e a l w a y s done b u s i n e s s w i t h t h e P h i l a d e l p h i a
i n s t i t u t i o n s w o u ld f e e l t h a t i t w o u l d b e a d e c i d e d
b e n e f i t , owing t o t h e i m p o r t a n c e o f P h i l a d e l p h i a ' a
p o s i t i o n i n t h i s r e s p e c t , t o have a R e g io n a l R e se rv e
Bank m a i n t a i n e d a t t h a t p o i n t .
Our I n s t i t u t i o n s i n c e i t s o r g a n i z a t i o n h a s
a l w a y s o a r r i e d a r e s e r v e a c c o u n t i n P h i l a d e l p h i a , and
t h i s i s t h e c a s e w i t h a g r e a t many b a n k s i n t h i s v i c i n ­
ity .
The b a n k i n g i n s t i t u t i o n s t h e r e h ave b u i l t up a
v e ry la r g e b u s in e s s i n c o l l e c t i n g item s a l l over the
U n i t e d S t a t e s , a n d h a v e t a k e n s u c h goo d c a r e o f t h e i r
c l i e n t s i n e v e r y r e s p e c t t h a t we b e l i e v e i t w o u ld a d d
t o t h e s u c c e s s o f t h e new r e s e r v e s y s t e m i f one o f
t h e R e g i o n a l Banks were l o c a t e d i n t h a t Qity#
Y ours v e r y t r u l y ,
Asbury I

Hon. Win. G. McAdoo,
S e c re ta ry o f the T reasury,
W a s h i n g t o n , D. 0 .




Reproduced from the Unclassified / Declassified Holdings of the National Archives

¥o.SF»73
f’
t'ttrtmsi Juilimutl jSattk
T. H . B E R I N G E R , JR ., A

JA ME S M .R A L S T O N , P r e s i d e n t
J A M E S F. A C K E R M A N / V i c e - P r e s i d e n t

J . A S -H J L E Y B R O W N ,

W IL L IA M A . B E R R Y , C a s h i e r

L.M




R A W ' S O N , A s s’T C a

Jan. 2 , 1914 ,i

Hon. William G. ICcAdoo,
Secretary of the Treasury,
v/ashington, 3). C.
Dear sir:

\

'jt

\

Our Directors, at their
last meeting, considered the
matter of a regional bank being
established in the City of Phila­
delphia. They were unanimous in
the opinion that Philadelphia
should have one of the banks, as
their total banking resources are
§1 ,055 ,000 ,000 , with a total de­
posit in national banks of $ 281 ,000 ,
000.
Philadelphia has done a
great deal for the country b a n k 3 in
the way of collection of checks, and
we think that they are entitled to
this consideration.
Very truly yours,

WAB-P

s s t

a s s t
s h

Ca s h i e r
Ca s h ie r
IE R

p,K"“ -----------;---------------------1
-------------------------------------

1

Reproduced from the Unclassified I Declassified Holdings of the National Archives

H EN R Y

C .W IN S O R , P r e sid e n t ,

C .C .C L A Y T O N ,

Vic e P r e s .

E .E .D A Y T O N ,

Ca s h ie r

H .A .W A T S O N ,

A s s t Ca s h .

f. M .M IL L E R ,

ASSTCASH

D ec. 27, 1915

Hon. Wm. G. McAdoo,
S ecretary o f the Treasury,
Washington, 7). C.
Bear S i r , - I wieh to c a l l your a tte n tio n to the importance o f
e s t a b lis h in g a R egion al Reserve Bank a t P h ila d e lp h ia .

It w ill

be o f very g re a t importance to the country banks to hare one
at th is point, as they have rendered v a lu a b le se rv ic e in c o lle c t in g
the checks and d r a ft s o f country banks f o r many years w ithout charge
and we hope you w i l l see your way c le a r to lo c a te one o f the banks
in P h ila d e lp h ia .




Reproduced from the Unclassified / Declassified Holdings of the National Archives

PRESI DENT
E Z R A

P A R K E R ,

F IR ST V IC E -P R E S ID E N T

G E O . W . H O L L IN G S W O R T H ,
SEC O N D

V IC E -PR E SID E N T

D A N I E L S. H O L M E S ,
CA S H IE R

A L P H O N S E W. K E L L E Y .

We w rit© you to urge th at you con sid er Philadaelphia, Penn, as
a proper place f o r the d e s ig n a tio n o f one o f the R egion al Reserve
C it ie s *
A side from the f a c t that through our f i n a n c i a l h is t o r y ,
c it y has b e «i

a le a d e r , b e in g the b irt h p la c e

th is

of the First National

Bank, and headquarters f o r fin a n c in g some o f our g rea test war lo a n s ,
i t a ls o ranks t h ir d today in amount o f bank d e p o s its , which we think
•hows i t s importance f i n a n c i a l l y .
I t occupies an important p o s it io n c e n t r a l}? lo c a te d f o r the
country banks o f Hew Jersey* D elaw are, M aryland and

Pen n sylvan ia,

and ©ur g re a te r bulk o f b u sin e ss has always been tra n sa cte d through
these c i t i e s .
We t r u s t th at you w i l l p la c e P h ila d e lp h ia , Penn, on the l i s t
o f the c i t i e s h avin g R egion al Reserve Banks.




Veiy r e p p e c t fu lly

CASHIER

Reproduced from the Unclassified / Declassified Holdings of the National Archives

December 29 th, 1913 •

G. McAdoo,

A-

Secretary of the Treasury,

Washington, D. C.
Bear Sir:
As the time is not now far off when the Treasury Department
must designate in Which Cities of the Union, the Federal Reserve banks
shall be placed, we beg to call your attention to the position which
the banks of Philadelphia have long occupied as Clearing Houses, so to
speak, for the checks of the country banks throughout the eastern states*
Philadelphia has for years granted the free collection of
checks to its out-of-town correspondents, charging for this collection
service only in isolated instances, on points where Clearing House
agreements compelled a remittance to Philadelphia banks at a fixed
discount for collection charges.

Indeed, the policy of the Philadel-

phia banks has long been far broader and much more liberal than4aky
of the other eastern cities that have been competing for this business*
Furthermore, Philadelphia gives precedence only to Hew York and Chioago
in the total volume of its bank resources and in the total deposits of
its banks.
In view of all these facts, we feel that Philadelphia is
clearly entitled to a Federal bank, and we respectfully request
the establishment of a reserve bank in that city.




Yery truly yours,
'S £

ice Presitent*

-------1.jsszm sm m m m m rnim ****

G E O . E. R O G E R S
P R E S ID E N T

F. S . H U T C H I N S O N
V IC E P R E S .

ForrnA;j6
R O B E R T G.POOLE,c a s h ie r .
EDWARD VO O R H E E S , a s s t, c a s h ie f




.

30 ., 1S1. ,

['A N S W E R E D

Hon. Wm. C. McAdoo,
jjc
S e c r e t a r y of th e T reasury,"
W a s h i n g t o n , D. C.
S i r :I f not i n c o n s i s t e n t with
y o u r v i e w s i n t h e m a t t e r , we would
f a v o r t h e e s t a b l i s h m e n t o f one o f
t h e F e d e r a l R e s e r v e Banks i n P h i l a ­
d elp h ia.
P h i l a d e l p h i a banks have a l ­
ways s e r v e d b a n k s o f t h i s commun­
i t y i n t h e v e r y b e s t manne r p o s s i ­
b l e , and a n y t h i n g we c an do t o im­
prove t h e i r i n t e r e s t s , f e e l th a t *
we a r e a d v a n c i n g o u r own p o s i t i o n .
Yeurs t r u l y ,

J

m

Reproduced from the Unclassified / Declassified Holdings of the National Archives

9. IV. S lrfttrlja rii, { J m ttb rn i
I t. i$. fO inrlj, Utir* J Jrc a ilirn t.
i f . I f ttr lju r r , (EasljtM-.

National Hmtk




B r id g e t o n , n . j .,

December 29, 1913

ia.1; BBanks
To the Committee for Organizing Reeiona^

cf ^

Washington", B. C.
Gentlemen:
We are very much interested in having
one of the Regional Reserve Banks located in Phil­
adelphia, as that is the natural reserve center
for our Bank.
Our organization dates back to 1883, or
thirty years and in that time the bulk of our re­
serves have been handled in Philadelphia, where we
get our accommodation quickly.
In taking up the various cities I find
that Philadelphia stands third in National Bank
Deposits, notv/ithstanding Trust Companies having
over #800,000,000. special deposits on account of
Estate and Trust Funds.

We would very much appre­

ciate seeing a Regional Reserve Bank located there.
Very respectfully,

Cashier.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

N

a n t s

a t i o n a l

B

a n k

MEW JERSEY
150.000.00

J . F. J O H N S O N , V I C E
H . 1_. W O O D R U F F , V I C E

PR E S ID E N T
P R ES ID E N T

December ,££-,—1913
.’
rr~ ■ ■
■
■
■
.
t
*
.■ i 'Viv.
\
;
Dear Sir s-

>t

The needs and conveniences of the Banks in the
territory adjacent to the city of Philadelphia, Pa.
respectfully request that you establish a Federal
Reserve Ban!: in that city.
Philadelphia is the greatest manufacturing city
in the United States and its banking resources run up
to a billion dollars, and from every reasonable stand­
point you m a y view the situation, Philadelphia is en­
titled to a Reserve Bank and I trust you will so de­
cide.
Tery respectfully y o u r s ,

RCH/JHW




President

Reproduced from the Unclassified / Declassified Holdings of the National Archives

NO. 8512
E.H .RAD EL,p r e s id e n t

M f - W m T z ’} V' CE PRES,DENTS

R .H .B R O K AW , c a s h i e r

BO UND BROOK,N.J.

Bound Brcpk, K* J ., Deo. 269 1913.
Hon* William 0* So Moo,
Secretary of the Treasury,
Washington, D. G.
Dear S ir:
In view of the early installation of the new ourreney
b i l l just past by the authorties at Washington, that you try f
in consideration with your ideas and plans,to have a federal
reserve bank established in Philadelphia*
The reason for
this request i s , that Philadelphia has been a very accessible
and satisfactory point for a large number of country banks to
make their clearing*
The banks in that oity being inclined
to do everything vithin thier power and consistent with good
banking, to accommodate the country banks by taking items on
every point in the United States and Canada.
This,bank has
had considerable experience along this lin e , and
obliged
to appreciate, very much, the importance of having a reserve
bank established in that city*
Believeing that you w ill give this matter carefull
investigation and grant this request# which e i l l doubtless
come from a large nuaber of other national banks throughout
this section, I remain,




fery truly yours,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

J. B I N G H A M

W O O D W A R D , Pr e sid ent.
W ALTER

Bo

W ALTER

H. A R M S T R O N G , C a s h i e r .

R O B B I N S , A s s t . Ca s h i e r .

rdentow n

Ba n k in g

CAPITAL S T O C K $ 7 3 . 7 5 0 . 0 0

Co m p a n y

S U R P L U S & PROF IT S $ 115.000.00

B o r d e n t o w n ,

N.J.

January 6, 1914 ,

Hon. William G. Me Adoo,
Secretary of the Treasury,
Wanhington, D. G.
Dear Bir*
Referring to the provisions of the new «urren@y bill
providing for the establishment of "Federal Reserve Banks”,kindly
permit us to speak a good word for Philadelphia.

At least 75$

of the business done in this part of New Jersey is Philadelphia
business.

The Banks there have been so broad and liberal in

their poli#ies, and have put themselves in such ©lose touah with
the business interest&here, that we feol it would be seriously
detrimental to our interest should Philadelphia not be selected
for one of the "Federal Reserve Banks"•




Very truly yours,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

ESTABLISHED 1873.

A U T H O R I Z E D TO A C T AS

EX EC UT OR ,

A D M I N I S T R A T O R , GUARDIAN
TRUSTEE, ETC.
BOXES

TO

RENT

PROOF

IN . B U R G L A R

VAULTS.

KOXU

G. Ucjidoo,

r

|Secretary o f the Treasury,
Washington, D .
lt&&r S ir

In view -of the proposed s e le c t io n o f F e d e ra l Re­
serve C it ie s , we w rite to urge that P h ila d e lp h ia be one of
th ese.

We o f middle and southern Hew Jersey, as w e ll as

the S ta te s o f Pen n sylvan ia, Delaware end M aryland, a re much
in t e r e s t ^ t h is

s e le c t io n ,

as most o f our hanking connec-

titm s are -with P h ila d e lp h ia As you have d o u b tle ss been futn ieh ed w ith the f i g u re s as to the hanking, a^tnufacturing and commercial in t ­
e r e s t s o f P h ila d e lp h ia end Pen n sylvan ia, we w i l l not enter
in to that# hut wish to emphasize the importance o f Camden —
w ith i t s g rea t s h ip b u ild in g end m anufacturing establish m en ts whojse product© go a i l over the w orld — we are in se p a ra b ly
a sso c ia te d with P h ila d e lp h ia , and think i t o f the utmost im­
portance to the in t e r e s t s o f th is
i t s v a st reso u rces and b u sin ess*

section of the country, w ith
th at P h ila d e lp h ia be one

o f the B e g io n a l Centres.

We* t h e r e f o r e , w i t h o u t g o i n g i n t o d e t a i l ,

cannot

too stro n g ly urge that P h ila d e lp h ia be selected f o r one of
the S e g io n a l Banks.



R e s p e c t fu lly ,

President

Reproduced from the Unclassified I Declassified Holdings of the National Archives

RE P O R T

OF- T H E
OF

CONDITION

THE

CAMDEN SAFE D EPO SIT
AND

TRUST CO M PANY
A T

T H E

C L O S EE O F

O c t o b e r 2 1,

A ccou n ts invited from Individuals, Cor­
porations and A ssociation s.

* * *

THREE PER CENT, interest allow ed on
tim e deposits. Subject to fourteen days’
notice to withdraw.

* * *

B U S I N E S S

TWO PER CENT, interest on deposits
subject to check w ithout notice on average
balance of $200 and upward.

1 9 1.3

* * *

RESOURCES

B onds and M ortgages.................. $2,049,484.51
Stocks and B onds........................... 2,856,484.39
T im e Loans on C olla tera ls........
230,600.00
D em and Loans on Collaterals..
Notes and Bills Purchased........
Due from Banks, etc...................

Cash on H and.................................
Banking H ouse, Furniture and
Fixtures...................................
O ther Real E state ......................

O ther A ssets ..................................

1,307,155.80
859,268.56
344,498.36
249,247.60
75,000.00
27,903.06
62,696.56

T o ta l............................................ $8,062,338.84
L IA B IL IT IE S

Capital Stock Paid in .................
Surplus F u n d ..................................
Undivided Profits ( n e t ) ...............
D ep o sits..............................................
T otal



;

$500,000.00
700,000.00
102,384.08
6,759,954.76
$8,062,338.84

B oxes to rent in Burglar and Fire Proof
V aults w ith Tim e Locks.

---- ----------This Com pany is authorized to A ct as
E xecutor, Adm inistrator, T rustee or Guard­
ian, and w ill Collect Incom es.

*

Vt iH s r e c e i v e d

and

*

kept

* * *

w ith o u t c h a r g e .

Financial A gent for Individuals and Corporations.

* * *
Trustees of Corporation M ortgages.

* * *

R egister and Transfer A gent.

|

F
Reproduced from the Unclassified / Declassified Holdings of the National Archives

Camden Safe Deposit
B O A R D O F D IR E C T O R S

c c
WILLIAM S. SCULL

and Trust Company
2 2 4 Federal Street, -

-

Camden, N. J.

ALEXANDER C. W OOD
GEORGE REYNOLDS

E » t a b ! i s -h e c l

3 8 7 3

JOSEPH H. GASKILL
WILLIAM JOYCE SEWELL
EDMUND E. READ, Jr .
WILLIAM J. BRADLEY
GEORGE J. BERGEN
JOSEPH W. COOPER
EPHRAIM TOMLINSON
GEORGE W. JESSUP
EDWARD L., FARR




STA TEM EN T

October 21, 1913
Capital.................................... $ 5 0 0 ,0 0 0 .0 0
Surplus (Earned), . . .
7 0 0 ,0 0 0 .0 0
Undivided Profits, . . .
1 0 2 ,3 8 4 .0 8
T he within statement does not include

TRU ST

FU N D S

which are kept separate and distinct from
the Assets of this Company

J. DAYTON VOORHEES
ALEXANDER C. W OOD
. . President
WILLIAM S. S C U L L ................Vice-President
EPHRAIM TOMLINSON
Second Vice-President and Trust Officer
JOSEPH LIPPINCOTT, Secretary and Treasurer
GEORGE J. B E R G E N ........................Solicitor

fe|f5tiu'd§;d from the Unclassified;'/ Declassified Holdings of the National Archives

ESTABLISHED 1873.

<5$&m

AUTHORIZED TO ACT AS EXECUTOR,
AD MI NIS TR ATO R, GUARDIAN
TRUSTEE, ETC.
’O X E S

TO

RENT

PROOF

IN. B U R G L A R

January' 2nd,

VA UL TS.

4

Ho n. W i l l i a m H u g h e s ,
U nited S t a t e s

S enate,

W ashington,

D.

C.

Pe-ar S i r :
In v i e w o f t h e p r o p o s e d
serve 'C itie s ,
th ese.
the

we w r i t e

to

urge

t h a t P h i l a d e l p h i a he one o f

We o f m i d d l e a n d s o u t h e r n New J e r s e y ,

S ta te s of P en nsylvania,

in terested
tio n s

s e l e c t i o n o f F e d e r a l Re­

in th is

as w ell as

D e l a w a r e end I f e r y l r n c l ,

selectio n ,

re

a r e mu ch

most of o ur b a n k in g

connec­

a r e w ith P h il a d e lp h ia .
A8 y o u h a v e d o u b t l e e s b e e n f u r n i s h e d w i t h t h e f i

uree ss
ests

to

the*banking,

of P h ila d e lp h ia

t h a 1 , b u t v/ish t o
its

great

and P e n n s y l v a n i a ,

em phasise

sh ip b u ild in g

whose p r o d u c t s

m a n u f a c t u r i n g and c o m m e rcial

go a l l

the

to

the

e.nu t h i n k i t

of t h i s

snd b u s i n e s s ,

V/e,

th erefo re,

tiie ir b e st



V/P

of

sec tio n of

in sep arab ly
t h e u t m o s t im­

the

country,

w ith o u t going in to
selected

d etail,

cannot

to

t h i s end.
R esp ectfu lly ,

/

too

f o r o n e o f t h e Re

a n a h o p e o u r Hew J e r s e y r e p r e s e n t a t i v e s w i l l

effo rts

w ith

t h a t P h i l a d e l p h i a b e one of

P h i l a d e l p h i a be
g io n a l Banks,

in to

Ormden — w i t h

o v e r t h e w o r l d - - v/e a r e

in terests

j'MK

im p o rtan ce of

not en ter

and m a n u f a c t u r i n g e s t a b l i s h m e n t s - -

asso c ia te d w ith P h ila d e lp h ia ,
portan ce

we vri l l

in ter­

uee

^

P r e s id e n t,

ESTABLISHED 1873.

Ife a s u r e r .

tp r e s ttfe m f

1

g n d . 'te e cf* r e s id e n t & c m e s t O ffic e r .

J 8 2 0 -J S 2 6 J l k W / i #

AUTHORIZED TO ACT AS EXECUTOR,
AD M IN IS TR AT OR , GUARDIAN
TRUSTEE, ETC.
BOXES

TO R E N T IN, B U R G L A R
P R O O F VA UL TS.

Coasaiaittee for Organization,

^

B&deral R e s e r v e Banks, c/o Xrese u r y Itept.
W ashington*

CL

-Gentlemens
In view of
serve

C ities,

th ese.

t h e p r o p o s e d s e l e c t i o n voif F e d e r a l He*

we w r i t e

to

u r g e t h a t ’P h i l a d e l p h i a b e o n e o f

o f m i d d l e a n d southern Hew Jersey,

We

as w ell as

t h e S t e t e t f o f P e n n s y l v a n i a , D e l a w a r e find M a r y l a n d ,
in te re ste d in

th ie

selectio n ,

a r e much

a s m ost o f o u r banking- c o rm e c -

tio n e a r e w ith P h ila d e lp h ia ,

As y o u h a v e d o u b t l e s s b e e n f u r n i s h e d w i t h t h e f i g ­
ures as

to th e b a n k in g ,

e s ts of P /iilaaelp h ls
ixita th f
w ith i t s

t P.

m a n u f a c t u r i n g a n a c o ^ ia e r G i c ? ! i n t e r ­

and P e n n s y l v a n i a , we w i l l

b u t w i s h t o eaiphaei& e t h e i m p o r t a n c e o f

g r e a t s h i p b u i l d i n g and ra e n u fa p tu rin g

whotee products go a l l o v e r t h e w o r l d
aee.ociatjfcd

w i t h I> h3,ladelphia,

portt-fto^ to

the

ite

and t h i n k

in te re sts of th is

v a s t resource® a n u b u s i n e s s ,

th e R egional

stro n g ly

estab lish m en te

we a r e
it

o f t h e u t m o s t im ^

e e c t \ o B x oi’ t h e

d e ta il,c a n n o t

Respectfully,
Ld




country, w ith

t h a t P h i l a d e l p h i a be one o f

w ith o u t doing in to

-«

inseparably

u r§ e t h a t P h i l a d e l p h i a b e © e le c te d f o r one o f

t h e R e g i o n a l Eanke*

w/p,

O nden-^

C entres.

We* t h e r e f o r e *
too

not en ter

/* /
P r e s id e n t

PM"""'...
Reproduced from the Unclassified / Declassified Holdings of the National Archives




i

/ / Y

M

January 2, 1914.

/ / / '/ / ; >

~ f v
? \

Hon. lifm. G. McAdoo, Secretary of the Treasury,
Washington, D. C.

—
\

Dear S ir :In se le c tin g the C itie s in which Federal Reserve Banks
sh a ll be organized we tru st that you w ill give due consideration
to the claim of Philadelphia as a City in which one of such Banks
sh a ll be located#
I t i s not necessary for me to c a ll your atten tion to
the standing of Philadelphia as a banking center.

A Federal Re­

serve Bank located there would not only be of b en efit to the
Banking In s titu tio n s of Philadelphia, but to the numerous Banks
located in C itie s and Towns near that C ity.
Trusting that Philadelphia may receive the favorable
consideration i t deserves, we are
Very sin cerely vours,
'0 * y y
Treasurer.

Reproduced from the Unclassified

I Declassified

Holdings of the National Archives

G eorge A. F r ey

C h a s . A.. R e y n o ld s

F ir s t V ic e p r e s i d e n t

W m . G. M o o r e

E. II. ROBINSON

sec o n d v ic e p r e s id e n t

S e c r e t a r y & Tr e a s u r e r

M erchants Trust Co m
CAMDEN, N E W JER SEY

pany
Deo* 3 1 , 1 9 1 3

The
Commi t t ee for Organizing Regional
B a n k s and Selecting the Reserve Cities
Washington, D* C*
Sirs:-

—

—

rr

Form r

W e w o u l d tha n k y o u to a d d our name to the list of Banks
w h o favor P h i l adelphia as a City in w h i c h should be located
one of the R e s e r v e Ba n k s to be established under the n e w
system of banking recently pas s e d b y Congress*
W e have h a d lo n g and satisfactory dealings w i t h the
different Banks in Philadelphia a n d we believe that Philadelp h i a
is the logical outlet for the entire business of l e w Jersey,
S o u t h of Trenton.
The writer kn o w s that this is the feeling of a large
n u m b e r of b a n k e r s in this ixauediate vicin i t y a n d for these a n d
m a n y other reasons we re s p e c t f u l l y ask that Philadelphia be
a l l o t t e d one Reserve; B a n k under the n e w system.
Yours v e r y truly
M E R C H A N T S TRUST COKCPAHY

ishr / sbie




Treasurer

iffiSd from thS Unclassified / Declassified Holdings of the National Archives

H e u l i n g s L i p p in c o t t , President.
I s r a e l R oB E R TS.Vice President.
A.D.A m b r u s t e r , C a s h ie r

1812 1 86 5

December 30, 1913*

orrn
Honorable W illiam

JloAdoo*

Seoretaxy o f the Treasuay*
Washington*

D• 0 •

Dear Sir*
Proa present in d ication s* we regret to learn th a t,
a t t h is tim e, P hiladelphia i s not being considered as the
lo c a tio n f o r one o f the Federal Reserve Banks*
You* no doubt* have already received numerous repre­
sen ta tio n s as to the d e s ir a b ilit y o f s e le c tin g P hiladelphia as
a Federal Reserve City*
f h is Bank r e s p e c tfu lly urges the claims o f the C ity
o f Thiladelpthla#

S is business r ela tio n s between the two

c i t i e s are so c lo s e 9 th a t we venture to laeOce her claim s oxir o « f




Respeotful3yt

Reproduced from the Unclassified

I Declassified

Holdings of the National Archives

H e u lin g s L ip p in c o tt, President.
I s r a e l R o b e r t s , Vice PresidentA .D .A m b r u s t e r , Cashier:

1812 1 8 6 5

December 30 , 1913.

Honorable Willia m
U n it e d S t a t e s S e n a t e ,
Washington,

D. 0#

Dear Sir*
From p r e s e n t i n d i c a t i o n s , we r e ^ t t o l e a r n t h a t ,
a t t h i s t i m e , P h i l a d e l p h i a i s n o t "being c o n s i d e r e d a s t h e
l o c a t i o n f o r one of t h e F e d e r a l Reserve Banks*
You, no d o u b t , have a l r e a d y r e c e i v e d numerous r e p r e ­
s e n t a t i o n s a s to t h e d e s i r a b i l i t y o f s e l e c t i n g P h i l a d e l p h i a a s
a F e d e r a l Reserve City*
This Bank r e s p e c t f u l l y "urges t h e c la i m s of t h e C it y
of P h i l a d e l p h i a ,

The b u s i n e s s r e l a t i o n s between th e two

c i t i e s a r e so c l o s e , t h a t we v e n t u r e t o raalse h e r claims our own.




Respectfully,

Oashier*

P »""

i
Reproduced from the Unclassified

I Declassified

mm .

Holdings of the National Archives

H e u lin g s L ip p in c o tt, President.
I s r a e l R o b e r t s , Vice Presidenh.
A .D .A m b r u s t e r , Cashier:

1812 186 5

Honorable David S', Houston,

Form

S e c r e t a r y of A g r i c u l t u r e ,

.0.

L
Tashingto n f

D• G#

Dear S i r s
From p r e s e n t i n d i c a t i o n s , we r e g r e t t o l e a r n t h a t .
a t t h i s tim e, P h ilad e lp h ia i s not being considered as the
l o c a t i o n f o r one of t h e F e d e r a l Heserve Banks#
You, no d o u b t , have a l r e a d y r e c e i v e d numerous r e p r e s e n t a t i o n s as t o th e d e s i r a b i l i t y of s e l e c t i n g P h i l a d e l p h i a as
a F e d e ra l Beserve Oity*
This Bank r e s p e c t f u l l y u rg e s t h e clai ms o f t h e C i t y
of Philadelphia*

The b u s i n e s s r e l a t i o n s between t h e two

c i t i e s a r e so c l o s e , t h a t v;e v e n t u r e to malce h e r c la im s our own#




Respectful3y#

•- Cashier#

Reproduced from the Unclassified

I Declassified Holdings of the National Archives

J* JE RRE LL,

VICE-PRESIDENTS

CASHIEA

R e s e r v e Bank O r g a n i z a t i o n Com m ittee
W a s h i n g t o n , D. C.
G rentifeaen;-

We d e s i r e t o l e n d o u r s u p p o r t t o t h e e f f o f c t t h a t i s
being put f o r th
S ities
th a t

to have you s e l e c t

p -i h* 1^ ftfjAl-f"P^Q
as
9m B" 1111M" *■*

W

i n w h ich a F e d e r a l R e s e rv e Bank w i l l he l o c a t e d .

t h e "bes t i n t e r e s t s

of th is

b y m aking s u c h a s e l e c t i o n

en tire

We f e e l

l o c a l i t y w o u ld be b e s t

served

a n d t h a t S o u t h J e r s e y s h o u l d be i n c l u d e d

in the P h ila d e lp h ia D i s t r i c t .

K indly c o n sid e r t h i s

r e q u e s t t h a t a F e d e r a l R e s e r v e Bank be l o c a t e d
n a m e d a n d t h a t Hew J e r s e y b e i n c l u d e d i n




one o f t h e

the

c u r earnest

in the

d istric t.

Y ours v e r y t r u l y ,

y
/

/

c i t y above

^ ^ ^ ^ p ^ d u c ^ ^ ^ n h ^ n d a s s if le d ^ e c la s s if ie c ^ o ld in g ^ f t h ^ a lio n a ^ r c h iv e s

31jr (EnUtngHtnnnii National lank
(EnUtngBumnii, N. 31.
F orm
C.llingsweocL, II. J . J t e n . 2, 1914.
''

'

Committee f @r Organizing R e g i o n a l .Banks and Selecting the Keserfrf/'Cities :G e n t l e m e n :We, as a national .Bank, located in the fastest growing, and one of
the most t h rifty suburban communities located in the southern part of
Xiew Jersey, desire to call your attention to the importance of the l o c a ­
t i o n of a R e g i o n a l Keserve Bank in the city of Philadelphia, Penna.
I’
he entire lower section of liew Jersey, as w e l l as the other s u r ­
r o u n d i n g states, are p r a c tically in the sane district as P h i l a d e l p h i a ,
ev e n if P h i ladelphia be in another state, a n d if the new law is to be of
the greatest possible advantage to the financial connunity here, P h i l a ­
delp h i a 's claim an on Id. be, not only acknowledged, but. granted, as w e r e ­
gard as of the utmost importance that the third largest city in the b a n k ­
ing circles of this, country should be recognized by the establishment of
one o f the Keserve .Hanks there.
W e h a v e always been closely a l l i e d w i t h this city of our adjoining
state and the various banking institutions there have always chee r f u l l y
r e sponded to any request w e nave made u p o n them either for advice or
assistance, givi n g the advice freely, and granting assistance to the
n "t'm/'N a •fm 1 a n > .1




___

1

Cashier

President«

' Reproduced from the Unclassified I Declassified Holdings of the National Archives

(EnUingBtumiii National Sank
(EnUutgatuooii, N. dl.
C ollingsw ood, N . J . ,

Dec, 27,

1913.

C om m ittee f o r O r g a n i z i n g R e g i o n a l Banks and S e l e c t i n g t h e R e s e r v e C i t i e s
G entlem en: ~
We, a s a / ji « u LUiial . B a n k ,
t h e most t h r i f t y

in th e

to c a ll

low er s e c t i o n

rounding s t a t e s ,
even i f

of

are p r a c tic a lly

P h ilad e lp h ia ,h e

th e g r e a t e s t p o s s ib le advantage to th e
p h ia* s claim
as

should be,

of th is

if

o th er su r-

as P h ila d e lp h ia ,

t h e new l a w i s

to

f i n a n c i a l com m unity h e r e ,

n o t o n ly acknow ledged,

o f th e utm ost im p o rtan ce t h a t th e t h i r d

cles

and

co u n t r y s h o u ld be r e c o g n i z e d

but g ran ted ,

larg est
by th e

lo ca-

Penna.

as w e ll as th e

same d i s t r i c t

in an o th er s ta te ,

of

im p o rtan ce o f th e

of P h ilad elp h ia,

Hew J e r s e y ,
in th e

a n d one o f

in th e so u th ern p a rt

your a tte n tio n to th e

o f a R e g i o n a l R e s e r v e Bank i n t h e c i t y
The e n t i r e

f a s t e s t grow ing,

su h i^ h a n com m unities l o c a t e d

Hew J e r a e ^ f d e s i r e
tio n

lo cated

city

be o f

P h ilad el-

a s we r e g a r d

in banking c i r ­

estab lish m en t

o f one o f

t h e R ese rv e Banks t h e r e .
We h a v e a l w a y s "been c l o s e l y a l l i e d w i t h t h i s
state

and th e v a r io u s banking i n s t i t u t i o n s

th ere

city

have alw ays c h e e r f u l l y

r e s p o n d e d t o a n y r e q u e s t we h a v e made u p o n t h e m e i t h e r
assistan ce,
most l e g a l

g iv in g th e ad v ice

fo r ad v ice

and g r a n t i n g a s s i s t a n c e

or

to the u t ­

lim it.

H oping to h e a r s o o n - t h a t




freely ,

o f our acljioning

th is

p e t i t i o n h a s n o t only been c o n s id e re d ,

G ollingsw ood n a t i o n a l
'

*

ip,,

r o r m .W*—

Bank.

P resid en t.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

ELIZABETH,N.J.

Dec ember the twenty-ninth*
N i n e t e e n hundred and
thirteen*

_____ ________ •____

H o n o r a b l e William G. McAdoo,
Se c r e t a r y of the Treasury,
‘
Washington* D. C.

i

t

£

“

........

">■

ri~L— ..

De a r S i r r

We are taking the liberty of w r i t i n g you in
the b eli e f that it w o u l d be advantageous to the Banks
throughout this State if you w o u l d establish a Federal
Reserve B a n k in the City of Philadelphia*
As we are one of many institutions through­
out Few J e r s e y h a v i n g bu s i n e s s relations w i t h Phi l a ­
delphia, w e realize that it w o u l d be most beneficial,
if you w o u l d organize a Federal Reserve B a n k in that
locality.
Very truly y o u r s ,

cdd

/e m l




Reproduced from the Unclassified / Declassified Holdings of the National Archives

-

p.

foster,

PRESIDENT

DR. J. V. CONOVER, VICE PRESIDENT

JASPER B. WAIN WRIGHT, CASHIER

fH
No. 6 7 0 7.
C A P IT A L S T O C K $ 5 0 , 0 0 0 .

—
~
E l m e i y N * J . Dec* 27 1913
To The Committee fo r o r g a n iz a tio n o f R egional Banks
Washington D. C.
Gentlemen:
Perm it me to urge upon you th e im portance o f lo c a t in g one o f th e
R egional Banks in P h ila d e lp h ia . For many y ea rs t h is bank has had r e s e r v e
a g en ts in P h ila d e lp h ia , New York, P itts b u r g , B oston and C hicago, but our
reco rd s show th a t P h ila d e lp h ia i s th e n a tu ra l c le a r in g house fo r most o f our
c o l l e c t i o n s , We are sen din g to P h ila d e lp h ia n e a r ly $ 2 ,0 0 0 ,0 0 0 a year alm ost
e x c lu s iv e ly in c o l l e c t i o n ite m s, and i t seems to me th e a g r ic u ltu r a l

and in ­

d u s t r ia l i n t e r e s t s o f t h i s p art o f th e s t a t e would s u f f e r w ithout a r e g io n a l
bank in P h ila d e lp h ia . Our b u sin e s s which would n a tu r a lly g o to B altim ore fo r
in s ta n c e , i s alm ost n o th in g , and w h ile in crop moving season we have la r g e
c o l l e c t i o n s i n our o th e r r e se r v e banks named, th e bulk o f th e y e a r ’ s b u s in e s s
c e n tr e s a t P h ila d e lp h ia in a n a tu ral normal way, and I presume we are rep resen ­
t a t i v e of hundreds o f o th e r banks. We t r u s t you w ill s e l e c t P h ila d e lp h ia as
one o f th e most im p o rta n t, second on ly in im portance to New York, as a fie g io n a l lank lo c a t io n .




tfer* t r u l *

;
V ?

\

X "

_

*7 / ^

^

- .

Reproduced from the Unclassified

I Declassified

Holdings of the National Archives

Wqt

;3|arbar (Eammmtal

R O B E R T O H N M E IS S . P r
A . G . V A U T R IN O T

C

E. A . S C H M ID T , V

e s id e n t

\

a s h ie r

ic e

-P r

W M m iiE e C A S T . 2 n d V
ALBERT C. STEPHANY

e s id e n t
ic e

-P r

e s id e n t

Egg Ha r b o r C ity , N. J.

Jan. 14, 1914#

Organization Comaittee,
N e w Federal H©serve Bank,
Washington, D* 0.
Gentlemen
We wo u l d like to request your honorable body to locate
a R e g ional B a n k nt Hii 1 niln\

j]h l *

and Include this section of H e w

J e rsey in that d i a t r t c f c a U llTxs the most convenient point for u s .




Respectfully,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

T he Fir ., r

N a tio n a l

B ank

G L A S S B O R O , N, J .
Os W. SYNNOTT, PRESIDENT.

C . E . S Y N N O T T . vi ce

p r e s i d e i\T

P. K DU BOIS.CASHIER ,

^




/^(_y(_A~-

yC ^4L A

j

Reproduced from the Unclassified

I Declassified

Holdings of the National Archives

WORKS

ESTABLISHED

1836.

B atem an Ma n u fa c tu r in g Co m pany .
B

FRANK BATEMAN
P re s id e n t.
V ice P r e s i d e n t .

H . BATEMAN

S e c ’y T r e a s & Gen'i M g r.

FARM , G A R D E N AND ORCHARD IM PLEM ENTS
D

Cable

Address
W e st e rn

B

Lo n g

H

D ista n c e

O

o m e

Fa

Co d e .

Te l e p h o n e .

f f ic e

a n d

c t o r y

GRENLOCH

N E W

f f i c e s

:

J E R S E Y ,

U .S .A .

G r e n l o c h , X. xJ.

is t r ib u t in g

H

o u s e s

1914.

The S e c r e t a r y o f t h e T r e a s u r y ,
(W ashington, B .C .
R espected S i r : As m a n u f a c t u r e r s o f l o n ^ - s ’T a h d i n g ,
q u a r t e r s of a c e n tu r y , - and i n t h e im m ediate s u b u rb s
o f P h i l a d e l p h i a , we f e e l i m p e l l e d t o p u t i n a s s t r o n g
i a 5 6 '§ S io le i o r u s t o make, i n f a v o r o f t h e s e l e c t i o n
a s one o f t h e F e d e r a l R e s e r v e C i t i e s #

over t h r e e
of th e O ity
a p lea as i t
of P h ila d e lp h ia

When we c o n s i d e r i t s s i z e , - t h e t h i r d c i t y o f t h e
C ountry, - i t s im p o rtan ce i n t h e f i e l d of m a n u fa c tu re s;
i t s Bank
a n d T r u s t r e s e r v e s , o f n e a r l y E i g h t H u n d r e d M i l l i o n a n d man y m o r e
m illio n s trib u ta ry ;
i t s s a v i n g f u n d d e p o s i t s o f a b o u t Two H u n d r e d
M i l l i o n - p r i n c i p a l l y t h e s a v i n g s o f v/age e a r n e r s ;
n o tin g a l l t h is
t h e t h o u g h t seems a lm o s t a p p a l l i n g t h a t P h i l a d e l p h i a s h o u ld be l e f t
from t h e l i s t of R ese rv e C itie s *
T h o u g h t f u l men d o n e t f o r g e t , e i t h e r , t h e i m p o r t a n t
p a r t P h i l a d e l p h i a h a s p la y e d i n t h e m a tte r o f f i n a n c i n g t h e G overn­
ment a t c r i t i c a l ti m e s *
The w r i t e r , a n a g e d man, r e c a l l s v i v i d l y
t h e w o rk a c c o m p l i s h e d b y J a y Cooke d u r i n g our C i v i l War, w h i l e t h e
School
c h i l d r e n o f th e U .S . a r e t a u g h t of t h e a i d g iv e n t h e G overn­
ment b y R o b e r t M o r r i s a n d S t e p h e n G ira rd *
As b u s i n e s s m e n , w i t h o u r b a n k i n g f a c i l i t i e s c e n t r e d
i n P h i l a d e l p h i a , we p l e a d f o r t h a t C i t y a s a R e s e r v e C i t y a n d t h a t we
may n o t b e o b l i g e d t o l o o k t o JKTew Y ork i n s u c h m a t t e r s .




:

PALATKA,F L A .
D E T R O I T , M ICH .
M ILW A U K EE ,WI S C .
P E O RIA, i LL .
D E S M O IN E S , IO W A .
M I N N E A P O LI S , M I N N .
DA L L A S .TEXASD EN VER,COLO .
S ALT LAKE CITV, UTAH .
S T O C K T O N , CAL .
LOS ANGELES, CAL .
PORTLAND,ORE .
SP-OKANE,WASH .
W' W E S T M I N S T E R , B . C .

a t e m a n

U nion

Te l e g r a p h ic

O

B U R N H A M , MAINE.
SPRINGFIELD, MASS .
C A N A S T O T A , N .Y.
EL M I RA, N. Y.
O R R V I LLE, O H I O .
L A N S I N G, M I C H .

E. S . B A T E M A N
FRED

r a n c h

:

Reproduced from the Unclassified

I Declassified

Holdings of the National Archives

M n ir k e t i& t e o x f u

paoxk

H A C K E T T S T O W N , N. J.

December 2 9 , 1 9 1 3

S ecretary

of the

Treasury

W ashington,

D. C

Dear 3 ir :
We n o t e

in tn e d a ily press

to have p u b lic h e arin g s
R e s e r v e Banks w i l l
the

re la tiv e

be l o c a t e d .

to

stands

th ird

in t o t a l

C ity .

arran g in g

t h e C it,ie3 w h ere t h e F e d e r a l

We d e s i r e t o

C ity of P h ila d e lp h ia and t r u s t

a F e d e r a l BanK i n t h a t

t h a t y o u r C oinm ittee i s

c a ll your a tte n tio n

th a t you w i l l

oe e n a b l e d t o

to

lo cate

As y o u a r e w e l l a w a r e P h i l a d e l p h i a

banking re s o u rc e s

p o l i c y h as alw ays b een a v e ry l i b e r a l

in th is

country,

one to w a r d s t h e i r

and t h e i r
co rrespondents

and cu sto m ers.
T ru stin g you w ill give th is
and w ith b e s t w is h e s




fo r th e

success

C ity your e arn est

co n sid eratio n ,

o f t h e new c u r r e n c y b i l l ,

Very t r u l y y o u r s

we a r e ,

ROBERT A

W . G . S U T P H I N , V ic e - P r e s i d e n t
J. M IL L E R W E L S H , A S S T . C A S H IE R

C O L E . PRESIDENT

M- T . W E L S H . CASHIER

T h e P e o p l e s N a t io n a l B a n k
O ff1 H

a c k b t t b t o w n

, N .J .

J a n u a ry 5,

Hon. W i l l i a m

IT 14«

McAdoo,

? Sec r e t a r y of the Treasury,
'

i X
M y dear^sirj
•i

r<

Washington, D. C.

: v

A s ^ y o u are one of the Committee in the establish
m ent ofi.the Regiona l Reserve Banks, we b e g to ask you to
c onsider favorably: the p l a cing of one in the City of P h i l a ­
delphia, Pa.
The Ban k s of that Citj' have served the ISnnks of ,
this section well in the collection of out of town checks
and their policy has b e e n liberal.

It ma k e s a convenient

point to keep a reserve and will continue to he of great
service, if a Reserve Ba n k is located there.
We earnestly hope your Committee will see
the importance of this,and act accordingly.




We remain,
V e r y respectfully,

answ ered
Cashier.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

H O W A R D

H .

E V A

W.

U L , V IC E - P R E S ID E N T

H

a d d o n

H

e ig h t s

M.

N A S H , CASHI ER

, N . J

Ac t h e t im e i s f a c t d ra w in g n e a r when i t w i l l b e n e c e s s a r y t o
s e l e c t t h e v a r i o u s l o c a t i o n s f o r t h e R e s e r v e Banics u n d e r t h e new s y s te m ,
we w o u ld l i K e t o u r g e u p o n y o u a n d y o u r a s s o c i a t e s on t h e o r g a n i z i n g
c o m m itte e t h e a d v i s a b i l i t y o f s e l e c t i n g P h i l a d e l p h i a a s one o f t h e
lo c a tio n s.
W h ile P h i l a d e l p h i a w o uld seem t o b e v e r y c l o s e t o Hew
YorK, y e t , a t t h e same t i m e , P h i l a d e l p h i a h a s a lw a y s seem ed t o s e r v e a
t e r r i t o r y a l l i t s own a n d I am s u r e some o f u s w o u ld f e e l t h e l o s s v e r y
K e e n ly i f P h i l a d e l p h i a s h o u l d be o m i t t e d fro m t h e l i s t o f R e s e r v e C e n t e r s ,
IT early a l l

t h e Banics i n S o u th J e r s e y h a v e done a l l t h i e r r e s e r v e b u s i n e s s ,

o r a t le a s t a v ery g re a t p o rtio n of i t ,

th ro u g h P h ila d e lp h ia , and, w h ile

t h e y m ig h t become a c c u s to m e d t o a c h a n g e , t h e y w o u ld c e r t a i n l y n o t f e e l
a t home a n y w h e re e l s e .
Ho d o u b t P h i l a d e l p h i a * s c l a i m s w i l l b e p l a c e d b e f o r e y a u
fro m a g r e a t many d i f f e r e n t s o u r c e s and we t r u s t t h a t t h i s c i t y w i l l ‘r e ­
c e iv e y o u r s e r io u s c o n sid e ra tio n *

ANSW ERED
j

.::t

1914

~ORM $ t ■frw iA S

k..




V ery t r u l y y o u r s ,

C a sh ier

,AW*.
Reproduced from the Unclassified

I Declassified

Holdings of the National Archives

NO. 5 3 3 3

J ohn B. Apgar, Vice-President
H. L. Staples, Cashier
h ig h

b r id g e

,

n

.

j

.,

0ecembei*j

2 7 1H91 3

H o n , W i l l i a m 6 Me A d o o ,
S e c re ta ry of the T reasury,
W ashington,D .C .
S ir:
In reg ard to
req u est th a t the

t h e e s t a b l i s h m e n t o f r e g i o n a l T i a n k s , we r e s p e c t f u l l y
C i t y o f P h i l a d e l p h i a he d e s i g n a t e d a s one o f t h e

cities

w herein sh o u ld be e s t a b l i s h e d such a bank.
T h i s we t h i n k ,
the

city

s h o u ld be done n o t o n ly b e c a u s e

e x c e e d one b i l l i o n

d o llars,

the bank re s o u rc e s o f

b u t because of the la rg e

number o f

c o u n t r y b a n k s whose i n t e r e s t w ould be s e r v e d by such d e s i g n a t i o n .




Reproduced from the Unclassified

W IL L IA M

P .T A Y L O R ,

I Declassified

Holdings of the National Archives

P re s t

JA M ES

B , H U D S O N , V ic e P r e s -t.

No.

^ A

'/ c

in

a

s

JO H N

HULSART,

C a s h ie r .

9 213

q

u

a

n

,

N

T
j

Jan

.

5,

1914.

ANSW ERED
The R e s e r v e B a n k . 0

rgani^fft f o n|91?bimiii1 t e e ,

T r e a s u r y • D e pj y^. m je nt ,
W ashington,

rm

D. C.

G entlem en:As a N a t i o n a l B a n k , we a r e d i r e c t l y
th e

in te re sted

in

e s t a b l i s h m e n t o f a R e g i o n a l R e s e r v e Bank a t P h i l a d e l p h i a ,

We h a v e b e e n k e e p i n g p a r t
N a t i o n a l Bank t h e r e ,

of our reserv e

and. c l e a r i n g

over the e n t i r e

coun try .

and c o n s i d e r a t e

in

in

through

t h e Corn Exchange

t h a t bank our checks

They h a v e a lw a y s b e e n raost c o u r t e o u s

s e r v i n g u s i n e v e r y p o s s i b l e w a y . We s h a l l b e

g la d to be in c lu d e d in a re g io n w ith P h il a d e lp h ia




Pa.

Yo^urs p r v
-

as i t s

resp ep tfu lly y
—

'v —

C ash ier.

cen ter.

Reproduced

from the Unclassified /

Declassified Holdings of the National Archives

PRESIDENT

C

harles

d

. M

VICE-PRESIDENTS
akepeace

G

eorge

Jo

nas

G

C A P IT A L ,

® h ?

iF ir s t

eo

. W . J

CASHIER
ackson

M

MAYS

R. M

$ 2 5 ,0 0 0

N a tio n a l

OF

ell

la n k

LANDING

Jfflaga CattiHttUJ, Sf. 3L D e c e m b e r 3 1 , 1 9 1 3 1 9 1

C om m ittee f o r O r g a n iz in g
R e g io n a l Banks and S e l e c t i n g
th e R eserve C i t i e s .
W ashington,
D. C.
G entlem en:
In s e le c tin g
Banks

it

is

th e

lo catio n s

f o r t h e new R e g i o n a l

our e a r n e s t hope t h a t P h il a d e lp h ia

c h o s e n by you a s
It

is

one o f t h e

c itie s.

the n a tu r a l re se rv e

and our n eig h b o rs

cen ter

in a la rg e ra d iu s .

T his

and so u n d est and only r e a s o n f o r t h i s
n o t b e s e n t y o u d i d we f e e l t h a t
so p e r s o n a l l y
co n d itio n .

selfish

as to

in th is

by no b u s i n e s s
where c r e d i t

should n o t b e .

This
fig u res

sim p lest

I t would

an unusual o r u n n a tu ra l

are

if

cen ter

t h a t you bestow c r e d i t

R ather,

d o we u r g e t h a t y o u

d e p riv in g us o f som ething,

d is?

our in ju ry .

i s a b a n k i n g m e a s u r e . The c o m p a r a t i v e b a n k o f co u rse w ith you.

be b u rd en so m e.

or as easily




req u est.

the

we a r e a s k i n g a n y t h i n g

create

law b e lo n g s h e r e ;

c rim in a tin g ly , to

reserve

is

n e ig h b o rh o o d f o r o ur b e n e f i t w hich

counsel m in u tely b e fo re

lik ely

fo r o u rselv es

We d o n o t a s k t h a t y o u b u i l d u p s o m e t h i n g

a rtificia lly

ing

w i l l be

R e p e t i t i o n w ould

We c a n n o t d o o u r b a n k i n g a s w e l l

a s s i g n e d t o a s e c t i o n whose p r o b a b l e
is

o th e r th an P hiladelphia®
ood w ish e s

for

^ s s ^ n your e ffo rts

orse

Reproduced from the Unclassified / Declassified Holdings of the National Archives

1191
BURL I NGTON C O U N T Y NAT I ONAL BANK OF M E D F O R D ,
MEDFORD,NEW JERSEY.
HENRY

P. T H O R N , P r e s i d e n t .

E D W B .R E E V E . C a s h

ieb

.

December 24,
H o n . W. G. MCAdOO,
S e c re ta ry o f th e T reasury,
W a s h i n g t o n , D. 0 .

i

1915

T

Dear S i r : The new c u r r e n c y b i l l h a v i n g p a s s e d ,

our d e sire

is

th a t

P h i l a d e l p h i a be d e s i g n a t e d a s one o f t h e C e n t r a l R e s e rv e C i t i e s ,
a n y t h i n g you. w i l l d o t o t h a t
board o f d i r e c to r s .




end w i l l be h ig h ly a p p r e c ia te d by our

Reproduced from the Unclassified

I Declassified

Holdings of the National Archives

1191
BURL I NGTON C O U N T Y NAT I ONAL BANK OF M E D F O R D ,
MEDFORD.NEW JERSEY.
HENRY

P. T H O R N , P

r c S io e n t

.

E D W . B .R E E V E .C A S M itR .

Jan.

16th.

1914.

R e s e rv e Bank O r g a i z a t i o n C o m m ittee,
T re a su ry D e p t. , W ashington,

I). C .

Dear S i r s ;
In a d d itio n
w as made a n d c a r r i e d ;

to

the

enclosed r e s o lu tio n ,

th e fo llo w in g m otion

The C a s h i e r r e q u e s t ^ 5 u r C o m m ittee t h a t a F e d e r a

R e s e r v e Bank he e s t a b l i s h e d a t P h i l a d e l p h i a / P e n n a . , a n d t h a t
^ __ ,

I .......... ...

J e r s e y be p la c e d i n th e d i s t r i c t




y

w n i l h*t

t

in -■l niW|i,| ,yw ...iff

^

so e s t a b l i s h e d .
Y ours v e r y t r u l y

S o u t h e r b New

Reproduced from the Unclassified

I Declassified

Holdings of the National Archives

H di
BURL I NGTON C O U N T Y NAT I ONAL BANK OF M E D F O R D ,

k

M ED FOR D. NEW J E R S E Y .
HENRY

P. T H O R N , P r e s i d e n t .

E D W . B . R E E V E , C ash

ie r

)

.

,

December 2 4 ,

1915

Hon. Y /illia m H u g h es,
P aterso n ,

N. J .

Dear S enator
The n e w / c u r r e n c y b i l l h a v i n g p a s s e d ,

our d e sire

is

t h a t P h i l a d e l p h i a bp d e s i g n a t e d a s one o f t h e c e n t r a l r e s e r v e
c itie s,

a n y th in g you w i l l do to a s s i s t

to th a t

end w i l l be h ig h ly

a p p re c ia te d --^ our board o f d ir e c to r s .




Y ours v e r y t r u l y

P«'“ '

'

...

Reproduced from the Unclassified

ELM ER
IR A

D. B U M P .

P. S H A R P ,

I Declassified

Holdings of the National Archives

DIRECTORS

SJr e s .

1s t . V

ic e

P res.

CLEM ENT W . SHOEM AKER

C H A S . H A M B U R G E R . 2 n d . V ic e Pres.

D A V ID

ALFRED

W IL L IA M

C H A L M E R S , C a s h ie r

National lan k o f Mxmtalu
iHutotnla,

JO H N

C. A P P E LG A TE
H. C O N N E R S

J. C A N E P A

SAM UEL SANTAG ATA

31.,

X
0X

S e c re ta ry o f th e T rea su ry ,
W a s h in g to n , D.O.
D ear S i r
We a r e v e r y much i n t e r e s t e d i n h a v i n g one o f t h e
R e g i o n a l R e s e r v e BanKs i n P h i l a d e l p h i a , a s i t w o u ld c e r t a i n l y be
f o r th e i n t e r e s t o f t h i s s e c tio n .
P h i l a d e l p h i a i s t h e t h i r d l a r g e s t B a n k in g c e n t e r i n
t h e c o u n t r y , a n d i t w i l l b e a s e v e r e h a r d s h i p on a l a r g e num ber
i f t h i s i s no t done.
We t h e r e f o r e p e t i t i o n y o u r H o n o r a b le body t o c o n s i d e r
th is m atter s e r io u s ly »




A / a

Y ours t r u l y ,

C a sh ie r*

Reproduced from the Unclassified / Declassified Holdings of the National Archives

£
ELM ER
IR A

DIRECTORS

D. B U M P , P res.

P. S H A R P ,

1st. V i c e

C H A S . H A M B U R G E R , 2 n d . V ic e
ALFRED

Sir? IFinst
lattk of iltnotola

Pres.
Pres.

C H A L M E R S , C a s h ie r

iKmntnia,

CLEM ENT
D A V ID

W IL L IA M
JO H N

W. SHOEM AKER

C. A P P ELG A TE
H. CO NNERS

J. C A N E P A

SAM UEL SANTAG ATA

31.,P.©..P.«.?.'7,..,1913 s

S e c re ta ry o f A g ric u ltu re ,
W a s h in g to n , D . 0 o
D ear S i r : We a r e v e r y much i n t e r e s t e d i n h a v i n g one o f t h e
R e g i o n a l R e s e r v e Banks l o c a t e d i n P h i l a d e l p h i a , a s i t w o u ld
c e r t a i n l y be f o r th e i n t e r e s t o f t h i s s e c t i o n
P h i l a d e l p h i a i s t h e t h i r d l a r g e s t B a n k in g c e n t e r i n t h e
c o u n t r y , a n d i t w i l l be a s e v e r e h a r d s h i p on a l a r g e num ber i f
t h i s i s n o t done.
We t h e r e f o r e p e t i t i o n y o u r H o n o r a b le body t o c o n s i d e r
t h is m a tte r s e rio u s ly .




Y ours t r u l y ,

101

PUII'»UIL HILIu.,,. I. .I-JLIU

Reproduced from the Unclassified

ELM ER
IR A

I Declassified

Holdings of the National Archives

D. B U M P , Pres.

P. S H A R P ,

1st. V i c e

CHAS. HAM BURGER, 2

nd. V ic e

ALFRED

a s h ie r

CHALM ERS, C

D IR E C T O R S

(Liu Jfftrat

Pres.

P res.

CLEM ENT W . SHOEM AKER
D A V ID

C. A P P E LG A TE

W IL L IA M

atimml JSattk of iHtnntola

JO H N

H. C O N N E R S

J. C A N E P A

SAMUEL

SANTAG ATA

Htnotola. N. S., 1)00 •27 ’ 1 9 1 3 *......181
i

C o m p tro ller o f th e C urrency,
W ashington,

D.C

Dear S i r : We a r e v e r y m u c h i n t e r e s t e d

i n h a v in g one o f th e

R e g io n a l R e s e rv e Banks l o c a t e d i n P h i l a d e l p h i a 9 a s i t w ould
c e r ta in ly be f o r th e i n t e r e s t o f t h i s
P h ilad elp h ia

is

the

th ird

s e c tio n of th e country.

l a r g e s t B anking c e n t e r

in the

o o u n t r y and i t w i l l be a s e v e r e h a r d s h i p on a l a r g e number i f
th is

i s n o t done*
We t h e r e f o r e p e t i t i o n y o u r H o n o r a b l e b o d y t o c o n s i d e r

th is m atter s e rio u sly .




C ashier

' R^rodiifeecf from the Unclassified I Declassified Holdings of the National Archives

Th

Fir

e

N a t io n a l B a n k

st

M O N T C L A I R, N E W «J E R S E Y
C A P IT A L $ 1 0 0 , 0 0 0

S U R P LU S $ 5 0 .0 0 0

U N IO N N . B E T H E L L , PRESIDENT
F R E D E R I C K W . F U L L E ,V IC E p r e s id e n t
L O U IS V . H U B B A R D , v i c e p r e s id e n t
A L F R E D T . G I B B S , c a s h ie r

December 2 7 t h . ,

1913.

C om m ittee f o r O r g a n i z i n g R e g i o n a l Banks and
S electin g

the R eserve C i t i e s ,
W ashington,

D. C.

G eritlem en:In re g a rd

to

the R eserv e

C ities,

our frie n d s

in P h il a d e lp h ia a re anxious

to have t h a t

n ated ,

c a r r i e d a c c o u n t s £oir i t s

and as

th is

Bank h a s

convenience^ever s in c e
liev e
of

the

a ll
give




th at

they have

ex cellen t

th * Banks
th eir

in

claim s

its

ju st

serv ice
th is

startin g
claim s

city

so d e s i g ­

in b u sin e ss,

for reco g n itio n ,

we b e ­
i n view

they have re n d e re d p r a c t i c a l l y

v icin ity

a n d we t r u s t

t h a t you w i l l

proper c o n sid e ra tio n .
Y ours v e ry
0

. 7

tru ly ,
- ,

C ashier.

(A N S W E R E D )
c

1314

1

Reproduced from the Unclassified / Declassified Holdings of the National Archives

W M . R. LIPPINC O TT, P resident
J. C. HOPKI!
W " UAM W .
I

C A P IT

ce-P resident
j

£ 5 0 ,0 0 0 .0 0

S U R P L U S $ 1 2 5 ,0 0 0 .0 0

KES, Cashier

. LIPPINC O TT, Ass- t Cashier

oorcsfotvn Rational

55
345

December 26th, 1913.
Honorable William Q* McAdOQ,
Secretary o f the Treasury,
Washington, D. G.
Dear Sir:*As the Federal Reserve Act which hatf /■ f \
now become a law au th orisin g that not le s s than
eig h t Federal Reserve banks be organized in the
c i t i e s of the United S ta te s , and as Philadelphia
has always been regarded as one of the most
conservative and con stru ctive c i t i e s in t h is
n a tio n , we would most r e s p e c tfu lly request that
you use your good in flu en ce with the organizing
body so that P hiladelphia may have a Federal Reserve bank.
I

, i . ..... 5

We b elie v e that P hiladelphia and v i­
c in it y are e n title d to have one of th ese banks,
as s t a t i s t i c s show th at the banking resources
o f P hiladelphia d is t r ic t are over $1,000,000,000*
Moorestown i s p r a c tic a lly a suburban
town o f Philadelphia of 3600 inhabitants with
bank d ep o sits amounting to over $2,000,000.
With best wishes of the season, we a r e ,
Very t r u ly ,
WS-B




T n r & x ta ,
' *

„

.

Cashier.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

IS 14

J

o seph

J o h n E . D a r n e l l , v ic e

J . W h i t e , p m sfbE N T

p r e s id e n t

J

no

. B . D a v is ,

(llir 3 farrnev$ (Lnt$t (Campanu
i l l m utt Holly, 2 0 .

B O X E S TO K E N T IN B U R G LA R
PROOF V A U L T S

W IL L S W R I T T E N
FREE

AND

CARED

s e c -y

*

treas.

C om ptroller

ei i *

/ ~/ - > 1Q1
Ju i r

sssr

FOR

A D M IN IS T R A T O R , G U A /t,

_ ------- f t - / -

OF CHARGE

|Form

T R U g *£ E t E T C .

i

J a n u a r y 9 , 1914.

C o m p tro lle r o f th e C u rren cy ,
W a s h in g to n , B. C.
Bear S ir :
F a c t s a r e l o d g e d i n W a s h in g to n o f f i c i a l l y sh o w in g bey o n d d o u b t
t o what c i t i e s th e banks sh o u ld go.
A l l t h e w o r l knows t h e com bined
c a p i t a l an d s u r p l u s o f t h e P e n n s y l v a n i a b a n k s i s o v e r $ £ 5 E ,0 0 0 , 0 0 0 f
w h i l e D e la w a r e , M a r y la n d , V i r g i n i a , N o r t h and S o u th C a r o l i n a , G e o r g ia
and F l o r i d a i s o n ly $ 1 1 3 ,0 0 0 ,0 0 0 .
Combined c a p i t a l and s u r p l u s o f
T r u s t Com panies o f P e n n s y l v a n i a i s $ 2 2 3 ,0 0 0 ,0 0 0 ; i n t h e s e v e n S t a t e s
m en tio n ed i s o n ly $ 3 5 ,0 0 0 ,0 0 0 .
P e n n s y l v a n i a b a n k s a l o n e wo&ld c r e a t e a F e d e r a l r e s e r v e b a n k
u n d e r t h e p r o v i s i o n 6 f t h e law w i t h $ 1 5 ,0 0 0 ,0 0 0 o f c a p i t a l s t o c k .
The
s e v e n S t a t e s o f t h e S o u th a l t o g e t h e r c r e a t e a F e d e r a l b a n k w i t h o n l y
$ 7 , 0 0 0 ,0 0 0 o f c a p i t a l s t o c k .
T h e re a r e o n ly two c i t i e s i n t h e U n i t e d
S t a t e s e x c e e d P h i l a d e l p h i a i n i t s t o t a l b a n k in g r e s o u r c e s .
I f d i s t r i c t s a r e a p p o r t i o n e d w i t h due r e g a r d t o t h e c o n v e n i e n c e
an d c u s to m a r y c o u r s e o f b u s i n e s s , P h i l a d e l p h i a w i l l n o t be o v e r l o o k e d
a s i t i s t h e n a t u r a l r e s e r v e c e n t r e f o r many m i l l i o n s .
We h a v e b e e n d o i n g b u s i n e s s f o r n e a r l y 100 y e a r s , a n d we h a v e
c l e a r e d many m i l l i o n s o f d o l l a r s t h r o u g h P h i l a d e l p h i a , w h i l e New Y ork
C i t y i s a l s o one o f o u r n e a r r e s r v e c i t i e s .
The l a r g e s t p e r c e n t a g e
o f o u r b u s i n e s s i s t h r o u g h P h i l a d e l p h i a , w h ic h i s a b o u t 95$.
T r u s t i n g y o u w i l l g i v e t h i s y o u r f a v o r a b l e c o n s i d e r a t i o n and
name P h i l a d e l p h i a a s one o f t h e r e s e r v e c e n t r e s ,
u rs v ery t r u ly ,

JBD/H

!A N S W E R E D
\

AN12 1914
fo r m




Reproduced from the Unclassified / Declassified Holdings of the National Archives

1814

J o s e p h J . W h ite ,

B oxes

TO

R M N T IN

J o h n E . D a r n e l l . , v ic e

p r e s id e n t

J n o . B . D a v is ,

p r e s id e n t

Se c y

&

t r e a s

.

Mrnnt HoUg, £U(.

B U RG LA R

p m oof v a u l t s

A U T H O R IZ E D T O A C T A S B X B C U T O H
A D M IN IS T R A T O R . G U A R D I A N
T R U S T tB . B TC .

J a n u a r y 9, 1914

D. C.

orm

Dea
F a c t s a r e l o d g e d i n W a s h in g to n o f f i c i a l l y sh o w in g beyond d o u b t
t o what c i t i e s th e banks s h o u ld go.
A l l t h e w o r l d knows t h e com b in ed
c a p i t a l a n d s u r p l u s o f t h e P e n n s y l v a n i a b a n k s i s o v e r $ 2 5 2 ,0 0 0 ,0 0 0 ,
w h i l e D e la w a r e , M a ry la n d , V i r g i n i a , U o r t h a n d S o u th C a r o l i n a , G e o r g ia
a n d F l o r i d a i s o n l y $1 1 3 , 0 0 0 , 0 0 0 .
Combined c a p i t a l and s u r p l u s o f
T r u s t C om panies o f P e n n s y l v a n i a i s $ 2 2 3 ,0 0 0 ,0 0 0 ; i n t h e s e v e n S t a t e s
m en tio n ed i s o n ly $ 3 5 ,0 0 0 ,0 0 0 .
P e n n s y l v a n i a b a n k s a l o n e w o u ld c r e a t e a F e d e r a l r e s e r v e b an k
u n d e r t h e p r o v i s i o n o f t h e la w w i t h $ 1 5 ,0 0 0 ,0 0 0 o f c a p i t a l s t o c k .
The
se v en s t a t e s o f th e S o u th a l t o g e t h e r c r e a t e a F e d e r a l bank w ith o n ly
$ 7 , 0 0 0 ,0 0 0 o f c a p i t a l s t o c k .
, T h e re a r e o n ly tw o c i t i e s i n t h e U n i t e d
S t a t e s ex ceed P h i l a d e l p h ia i n i t s t o t a l b a n k in g r e s o u r c e s .
I f d i s t r i c t s a r e a p p o r t i o n e d w i t h due r e g a r d t o t h e c o n v e n i e n c e
a n d c u s t o m a r y c o u r s e o f b u s i n e s s , P h i l a d e l p h i a w i l l n o t be o v e r l o o k e d
a s i t i s t h e n a t u r a l r e s e r v e c e n t r e f o r many m i l l i o n s .
We h a v e b e e n d o i n g b u s i n e s s f o r n e a r l y 100 y e a r s , and we hav e
c l e a r e d many m i l l i o n s o f d o l l a r s t h r o u g h P h i l a d e l p h i a , w h i l e New York
C i t y i s a l s o one o f o u r n e a r r e s e r v e c i t i e s .
The l a r g e s t p e r c e n t a g e
o f o u r b u s i n e s s i s t h r o u g h P h i l a d e l p h i a , w h ic h i s a b o u t 95$ .
T r u s t i n g y o u w i l l g i v e t h i s y o u r f a v o r a b l e c o n s i d e r a t i o n and
name P h i l a d e l p h i a a s one o f t h e r e s e r v e c e n t r e s ,

(a n s w e r e d !
JAN 1 2 1914

JBD/I

FORM




at-?

Y o u rs v e y y t r u l y ,

Reproduced from the Unclassified

I Declassified

Holdings of the National Archives

Jjfounbet* 1814

J o s e p h J . W h ite ,

p r e s id e n t

J o h n E. D a rn e ll,

v ic e

p r e s id e n t

J n o . B . D a v is ,

a

s e c y

Treas.

(Hi f a r m e r * ’T rust
B O X E S TO

H E N T IN

m o o r

w ills

w ritte n

iltnunt

B U KG LA R

v a u lts

an d

caked

fo r
~^

F ffffC o r C H A R G E

U T H O R I Z E D J O A C T A 0 E X E C U T O R ^ .J L
A D M H * 1 % T R A T O R * & U A R D IA N

1

T R U S T—
E*Er., E T C .^

A*?P

f

_

J a n u a r y 9 , 1914
S e c re ta ry of th e A g ric u ltu re ,
W a s h in g to n , B. C.
D ear S i r :
F a c t s a r e l o d g e d i n W a s h in g to n o f f i c i a l l y shor-'ing beyond d o u b t
to what c i t i e s th e banks sh o u ld go.
A l l t h e w o r l d knows t h e c o m b in ed
c a p i t a l and s u r p l u s o f t h e P e n n s y l v a n i a b a n k s i s o v e r $ 2 5 2 ,0 0 0 ,0 0 0 ,
w h i l e D e la w a r e , M a ry la n d , V i r g i n i a , N o r t h / a n d S o u th C a r o l i n a , G e o r g ia
an d F l o r i d a i s o n l y $ 1 1 3 ,0 0 0 ,0 0 0 .
Copfloined c a p i t a l a n d s u r p l u s o f
T r u s t C om panies o f P e n n s y l v a n i a i s $ 2 2 $ v 0 0 0 ,0 0 0 ; i n t h e s e v e n S t a t e s
m en tio n ed i s o n ly $ 3 5 ,0 0 0 ,0 0 0 .
P e n n s y l v a n i a b a n k s a l o n e w d u ld c r e a t e a F e d e r a l r e s e r v e b a n k
u n d e r t h e p r o v i s i o n o f t h e la w wjrxh $ 1 5 ,0 0 0 ,0 0 0 o f c a p i t a l s t o c k .
The
s e v e n S t a t e s o f t h e S o u th a l t o g e t h e r c r e a t e a F e d e r a l b a n k w i t h o n l y
$ 7 ,0 0 0 ,0 0 0 o f c a p i t a l s t o c k . /
T h e re a r e o n l y two c i t i e s i n t h e U n i t e d
S t a t e s e x c e e d P h i l a d e l p h i a 3m i t s t o t a l b a n k i n g r e s o u r c e s .
I f d i s t r i c t s a r e a p p o r t i o n e d w i t h due r e g a r d t o t h e c o n v e n i e n c e
a n d c u s to m a r y c o u r s e o f b u s i n e s s , P h i l a d e l p h i a w i l l n o t be o v e r l o o k e d
a s i t i s t h e n a t u r a l r e s e r v e c e n t r e f o r many m i l l i o n s .
We h a v e b e e n d o i n g b u s i n e s s f o r n e a r l y 100 y e a r s , a n d we h a v e
c l e a r e d many m i l l i o n s o f d o l l a r s t h r o u g h P h i l a d e l p h i a , w h i l e New YorkC i t y i s a l s o one o f o u r n e a r r e s e r v e c i t i e s .
The l a r g e s t p e r c e n t a g e
o f o u r b u s i n e s s i s t h r o u g h P h i l a d e l p h i a , w h ic h i s a b o u t 95$.
T r u s t in g you w i l l g iv e t h i s y o u r f a v o r a b le c o n s i d e r a t i o n and
name P h i l a d e l p h i a a s one o f t h e r e s e r v e c e j r t r e s ,
,urs v e r y t r u l y ,

JBD/H




Reproduced from the Unclassified I Declassified Holdings of the National Archives

C A P IT A L $ IO O .O O O .
S U RPLU S $ 1 2 5 ,0 0 0 .

BENJ. F. HOWEL L , Pr e s t .
T. E . S f ^ l A NCK , Cashi er .

P e o p l e s Na t i o n a l B a n k

N e w B r u n s w i c k , N . J _____ T)ec» 2 7 t h , 1 9 1 3 .

O rg an izatio n

C om m ittee,

R eg io n al Banks,
W ashington,

D. C.

Dear S i r s : —
We w o u l d v e r y much l i k e
selected as a lo catio n
A very la rg e
S tate

pass

p art of

for




o n e o f t h e n^w R e g i o n a l E a n k s .

the b u s in e s s o f

the banks o f t h i s

th ro u g h ^ C ity .
I hope you w i l l

sid eratio n .

to have P h il a d e lp h ia ,

stive t h i s

your e arn est

con-

Reproduced from the Unclassified/ Declassified Holdings of the National Archives

CAPITAL $ 25 0,000.
n h y g .p a r k e h

SURPLUS AND UNDIVIDED PROFITS

,

(earned)

$ 4 2 5 ,0 0 0 .

Pj»E.SUMS N'T.

L Y L E V A N N U IS ,
Ca s h i e r .

N a t io n a l B a Wk o f N e w J e r s e y
S

ew

Br u n s w i c k ,

Dec. 27th, 1913,

u

Hon. William G. McAdoo,
Secretary o f the Treasury,
Washington, D. C.
Dear S ir
In connection with the s e le c tio n o f the lo ca tio n
fo r the Federal Reserve tanks, permit me to c a ll your a tte n tio n
to the claim o f P h ilad elp h ia for one o f such d esign ation s.
The banks o f said c it y have performed a real service
fo r several years hack in the free c o lle c tio n o f cheques fo r th e ir
out o f town correspondents and i t s p o lic ie s have, in a l l resp ects,
been broad and lib e r a l.

The c it y and i t s environs produce a very

large amount o f business by reason o f i t s in d u stries and transportation
in te r e s ts and we b e lie v e th at i t would be very h elp fu l in the e s ta b lis h ­
ment o f the new Currency and Banking B i l l , to have one o f the Reserve
banks lo ca ted in the c it y o f P h ilad elp h ia.
Respectfully yours,.

HGP/E£B




President.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

I V I N S J. D A V IS , P b

t.

GEO. F . C O M PTO N , C a s h ie r

Sty? Wxxtft N a t o n a l S a n k
/ / ' /

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,

^X^J5e>?tX>

v i A i x X ^ ^A -X \, ^ ~ Q k £Lj ^ X a a > u 9 o A j

o _ /^ ,
„
^ir^AwA^. CL£3fcw-/v_A*_» *X^X a A_J^ V?"

•X x r A A A J 2 X X ^ \ ^ J C c>




Oo

VAAA,Vv^ij& UA

-

*
x A ‘xL-&J2^

X o

u u (x ilA W L n ^ .

^

A

a

..

Reproduced from the Unclassified

I Declassified

Holdings of the National Archives

U N IT E D

C A P IT A L , $ 1 0 0 , 0 0 0 . 0 0
SURPLUS,

STATES

W IL L IA M

O cean

E. M A S S E Y , P r e s id e n t

HENRY

D . M O O R E , V ic e

L E S L IE

S. L U D L A M , V ic e
a n d T itle

P O S T A L S A V IN G S

D E P O S IT O R Y

$ 3 0 ,0 0 0 .0 0

C ity

P r e s id e n t

T itle a n d T rust

P r e s id e n t

O ffic e r

C . R. S T IL W E L L , S ec . a n d T r e a s .
J . F IT H IA N

Company

T A T E M , S o lic ito r

O CEAN CITY, N . J . , J a n .

7,

1914

H o n . W i l l i a m G . McAdoo
S ecretary

to

t h e T r e a s u r e r o f U.

T reasury,
Dear S i r :

W ashington,

S .,

D. C.

We u n d e r s t a n d t h e r e

is

a F e d e r a l R e s e rv e Bank b e in g p l a c e d i n
Inasm uch qs t d s

i s ou r b e s t re s e rv e C ity,

us

a n d we d e p e n d o n

e v e r y way,

t h a t a F e d e r a l R e s e r v e Bank b e s t a t i o n e d i n

s a id C ity

should be o v erlo o k ed ,

it

we a r e v e r y d e ­
t h a t C ity*

as

If

w ould b e a g r e a t i n c o n v e n i e n c e to

t o h a v e t o d e p e n d o n e i t h e r New Y o r k o r 3 3 a l t i m o r e f o r

m o d a t i o n we r e q u i r e ,

to

th e C ity o f P h ila d e lp h ia .

them e n t i r e l y f o r o u r a c c o m m o d a tio n s i n
siro u s

some d i s c u s s i o n r e l a t i v e

the le n g th of

t h e accom­

tim e demanded f o r r e c e i v i n g

any such accom m odation w ould b e m ore th a n d o u b le t h e p r e s e n t a r ­
rangem ent.
We t r u s t y o u w i l l

take o u r l e t t e r

in to

deep c o n s i d e r a t i o n ,

w i t h many o t h e r s w h ic h you w i l l p r o b a b l y r e c e i v e .
T hanking you f o r

CRS/C




a n y c o u r t e s y y o u may sh ow u s ,

we a r e

along

Reproduced from the Unclassified / Declassified Holdings of the National Archives

L .M L C R E S S E P r e s id e n t
R .B .S T IT E S V ic e P r e s id e n t
W . S C O T T H A N D C a s h ie r
J. F IT H IA N T A T E M S o lic ito r

Qbxxxm

JSLSL

O-Va. VMrjt 4HA)

* S

U

Z

£

j | O

L A - S A a ^ c A j

% q

_

CX-^V
CQxx jtxj

X £ \» X
^

X S X k,

o lx :

cx^xxA i

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J < 3 3 sls

Ci2^AxA-Cj^o
.

^

( o i^ v ^ v J i± x )

M A )^

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~va^_QJ& 0< jLv_xj^

c>Vj^

J L Q _ jO ^ ^ ^

A S a J^

< 2 J ^ C X y v ^ v ^ O ^ CX./6 ^ S U xd ju U ft
, O L -^ S^ vj
CLQjC2_X3_rv, A-O
o iA T

Q iX ^ J L G±JUL_>

-^VA-P.jl\ - £ j^C L aL X j^ ; ( X

§

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t

(^ 2 -O i^ -V V a ^

A ft-v x x X

^ * t.x?,a ^

V © j u ^ X J ^ k - ssX IT
J 2 q& ^JZU C

ck K

^ L S U ^ kX > ^ x S L




C ^ O V y ^ -5 . ^

8^r ^

,

A CX-X^cAo
lsz-c k j z z S U ^ iS

C X aa. v A aaaaaaJS u M .
C K .^ A ^
C l^ L .

^ji

CS>^^V-A«

«

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Ca

JO HNW ! GRIGGS, P r e s i d e n t .
JO H N S . CO O K E , V i c e P r e ^ t .

$ 3 0 0 ,0 0 0 .

p it a l

S
U

u r p l u s

k d iv t o e d

(e a rn e d )

P

a n d
r o f it s

$ 4 « 0 0 .0 0 0 .

15LMER Z. H A LS TE D , C a s h i e r .
D A N IE L I I . M ITH R AS A s s r

Ga s h .

The Paterson National Bank
of

P a t e r s o n ,N e w J e r s e y ,
P a t e r s o n ,N ' . J .

1 £ / £ < j / 1;

MeAdoo,

A)
etary

o f the

T reasury,

W ashington,

,/g w i e n t o

oring

in P h ila d e lp h ia ,
we a r e

t»o y o u r a t t e n t i o n

a g reat h elp ,

and tne

serv ice

co u n try has

fa c ilita te

th a n any o t h e r c i t y
lik e

to

see

the

v a s t volum e o f b u s i n e s s t h r o u g h ­
a p p r e c i a t e d by u s and a l l

I t h i n k t h a t P h i l a d e l p h i a h a s done

d irect

and prom pt h a n d lin g o f c o l l e c t i o n s

or ten y e a rs a t a very

h a v i n g a R e g i o n a l R e s e r v e Bank l o c a t e d
Of c o u r s e , we p r e s u m e t h a t

Our d e s i r e




a n d we w o u l d v e r y

h u c u

th e y have done f o r

s m a ll m a rg in o f p r o f i t by
in t h e i r

c ity .

a R e g i o n a l Bank w i l l be

t h a t b e i n g more c o n v e n i e n t f o r u s .

t o h a v e one i n P h i l a d e l p h i a

one w i l l be i n

as

fT ne e a s e a n d q u i c k n e s s

in th e U nited S ta te s

p l a c e d i n Hew Y o r k C i t y

banks

they have ren d e red

them r e w a r d e d f o r t h e w ork t h a t

t h e t>ast e i g h t

wdiat t n e

to banks lo c a te d

th at

been v e r y h i g h l y

o th e r banks of our c la s s .
more t o

«iie i r a c t

broad and l i b e r a l .

in w hich th e y have h a n d le d t h i s
the

C.

P e n n sy lv a n ia have been,

to u s has been b o th

out

D.

each of th ese

c itie s.

i s w it h t h e hope t h a t

if'"-1-- ■

Reproduced from the Unclassified I Declassified Holdings of the National Archives

t

R I C H A R D R I C H A R D S , V i c e Pr e s .

B E N J . G . P A U L , PRE5lOE^

C . B . S T A C K H O U S E , Ca s h i e r .

NP 5981

'JSSfWL
OF PAULSBORO.

SBOROyN. J .
*

-/W

o t
r

'O

u .

~ tO U !6
*

M

/

iy

>

A A ?L

H <M




'tZsO L

Reproduced from the Unclassified

I Declassified

Holdings of the National Archives

UNITED

STATES

DE P OS I T ORY .

52IS
HAMILTON

E\ K E A N ,

p r e s id e n t .

HARRY O O N A K D ,
JOHN M.

i’ T

O O L

D eo*

27,

1915.

S e c re ta ry o f th e T reasu ry ,
W a s h in g to n , D. C.
D ear S i r : The b a n k s o f t h o C i t y o f P h i l a d e l p h i a a r e
v e r y a n x i o u s t h a t t h a t C i t y s h o u l d be c o n s i d e r e d ,
when l o c a t i n g t h e R e g i o n a l R e s e r v e B a n k s, t o w h io h , no
d o u b t , a t t h e p r o p e r t i m e , y o u r Qfcramittee w i l l g i v e t h e
p ro p er a tt e n t i o n .
A good d e a l o f o u r b u s i n e s s i s p a y a b l e a t
P h i l a d e l p h i a , o r n e a r - b y p l a c e s , and i t w o u ld be
somewhat o f a d v a n t a g e t o u s i f , when c o n s i d e r i n g t h e
l o c a t i o n s , P h i l a d e l p h i a w ould r e c e i v e f a v o r a b l e
c o n sid e ra tio n .




Reproduced from the Unclassified / Declassified Holdings of the National Archives

P h il l ip s b u r g N a t io n a l I i n k :
<JNO .A . B A C H M A N . P re s id e n t.
.1 I . . I. O M E R S O N
R . C . B A C H M A N i A M ' . C A ltflfiR .j




^

N O . 1 2 3 9

C A P IT A L
SURPLUS

y

$ 3 0 0 ,0 0 0
$ 3 0 0 , 0 0 0

/

P h i l l i p s b u r g ,N . J .

(

/

(

7*

J

/

«l-«— < i - j v

<?/ 3 .

# * 0 —

^

c& 6 U c S t 7*A jL+*-*> k
/r >

Reproduced from the Unclassified / Declassified Holdings of the National Archives

J.M .M cC O W A N .Vice President

G .W. CA R R, President.




WADSWORTH CRESSE,Cashier.

R t m a n N a t io n a l B a m k
S-',v

n

O ooB ltttt fo r Organising Regional lan k t,
la th in g to n , D. C.
fttn tlen an :91 taka th t lib e r ty o f a d d rtttin g you r t l a t l r t
to th t t e l t t t i o n o f P hiladelp hia a t a E « i« n i City*
I t f t t l th at*fh t laborer i t worthy o f h it h ir t H,
and w« b e lie v e that you f e e l th t tan e. I t would th erefore
tttm th at ton eid erin g th t ta ln tn t fIn a n tla l p o titio a
a tq p lrtd by t h it eentre from th t very beginning o f
banking la t h it eountry, you would bt warranted in
glT lng to t h it tonsmmlty th t b t n t f it

o f a Seeerre C ity.

Owing to th t r a t t number o f manufacturing in d u stries
laeated th ere, th t t t t t io n htrtaboutt i s l i t e r a l l y flood td
w ith items whlth m itt bt cleared throufgi P h ilad elp h ia, and
our tx p triS n tt teaah tt ut that any other
would work a g r ta t hardthip

thanntl o f tzthangt

on th t b u tin ttt o f t h it ttttio n *

Reproduced from the Unclassified

E.

B.

BRADFORD,

I Declassified

Holdings of the National Archives

P r e s i d e n t

ROBBINS,

L E V I

V i c e - P r e s i d e n t

L.

ROBBINS,

C a sh i

1003 6

F ir st N a t io n a l

he

bank

C A P IT A L , $ 2 5 , 0 0 0
SURPLUS,
$ 5 ,0 0 0

P ort

N o rris,

N. J .,

B e c e m b e r 27 1 9 1 3

C o m m i t t e e f o r O r g a n i z i n g Reg io nal^B&frJtjT,
!
: - r
W a s h in g to n , D .C .
\
G entlem en; -

»•••• In

B anks,w e

selectin g

ern estly

the lo c a tio n s

for

the R eg io n al R eserve

ho p e t h a t P h i l a d e l p h i a w i l l be favofced by you

f o r one l o c a t i o n .
I t has proven very advantageous to us to have our re s e rv e
in P h ila d e lp h ia as
and as t h a t

city

and n e t d e p o s i t s
im portant c ity




is

it

is

th ird

the

n atu ral reserve

in s iz e

as to

of th e U nited S ta te s ,w e

s h o u ld n o t be o m itte d .
R esp ectfu lly ,

its

cen ter for th is
banking r e s o u r c e s

feel th a t

th is

very

bank

Reproduced from the Unclassified / Declassified Holdings of the National Archives

SfaSftrst $ atum ai %aitk
RIDGEWOOD,N.J.

F. E .P A L M E R ,P r e s t .
L .F .S P E N C E R ,C a

s h ie r

R G .Z A B R 1 S K IE ,V ic e P r e s t .
A .F. H A L L , A s s t . Ca s h i e r

C O R N E L IU S D O R E M U S , C o

u n s e l

D ec. 2 7 , 1 9 1 3 .

Hon* Win. G. McAdoo,
S e c re ta r y of th e T re a su ry ,
W a s h in g to n , D. C.
S ir:
T h is Bank h a s f o r many y e a r s c o l l e c t e d s u b s t a n t i a l l y
a l l i t s ite m s p a y ab le i n th e U n ite d S t a te s e x ce p t th e
n e a r b y tow ns o f New J e r s e y an d s u c h a s a r e p a r i n New
York C i t y , t h r o u g h i t s P h i l a d i l p h i a c o r r e s p o n d e n t , a n d
th e r e s u l t has been e x c e e d in g ly s a t i s f a c t o r y .
'

>rt t - r ,

* f

I t w ill

■

t h e r e f o r e be m o st g r a t i f y i n g t o u s Af t h e d e s i g n a t i n g
p o w e rs s h a l l f i n d i t c o n s i s t e n t w i t h t h e i r v ie w s t o
e s t a b l i s h one o f t h e F e d e r a l R e s e r v e Banks i n t h a t c i t y .
A s id e fro m o u r own c o n v e n i e n c e i t i s o u r f i r m
c o n v ic tio n t h a t th e g r e a t c i t y o f P h ila d e lp h ia i s w e ll
e n t i t l e d t o s u c h r e c o g n i t i o n , a s one o f t h e m o st i m p o r t a n t
b u sin e ss c e n tre s i n th e c o u n try .
hope t h a t t h i s o ld c r a d l e

o f L i b e r t y w i l l be c h o s e n a s

one o f t h e R e s e r v e C i t i e s *




I t i s our e a rn e s t

Respectfully,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

B id d le
President

H ile s ,

c a s h ie r

(Etty National lank nf #afem
No. 3 9 2 2

\

£>alm
, N. J.,....Peoemher.-gft^.

Eon.# W il l ia m Q# Mo Adoo

I t w o u ld b e a v e r y g r e a t acc o m m o d atio n
t o t h i s b a n k i f we c o u l d h a v e one o f t h e
F e d e r a l R e s e r v e B anks e s t a b l i s h e d i n t h e
O ity o f P h ila d e lp h ia *

We h a v e d one b u s i n e s s

w i t h t h e G i r a r d n a t i o n a l B ank, o f t h a t O i t y ,
fo r

many y e a r s a n d h a v e h a d a l l o u r w a n ts

s u p p l i e d i n a v e r y s a t i s f a c t o r y m a n n e r, and
it

i s much m ore c o n v e n i e n t f o r u s t o h a v e

o u r c o r r e s p o n d e n t a t P h i l a d e l p h i a , o n l y 37
m i l e s away t h a n i t w o u ld b e

to b e o b l i g e d t o

go t o New Y o rk , i n v o l v i n g a t r i p o f o v e r
100 e a c h w ay.
H op in g t h a t y ou may s e e y o u r way c l e a r
t o g r a n t i n g o u r r e q u e s t , we a r e




Y o u rs v e r y t r u l y ,

Reproduced from the Unclassified

I Declassified

Holdings of the National Archives

Form 168

W ESTERN UNION
IT T m saessxkV ’\

o
%

telegram
THEO. N. VAIL, PRESIDENT

^E|yED AT Wyatt Building, Cor. 14thandFSts., Washington, D. C.ALWAYS
OPEN
SALEM NJ 24

\

HON SE
Cretary

o p the

tr easurt

:
WASHINGTON DC

n EARNESTLYiREQUEST TOUR FRIENDLI:ATD:IN HAVING PHIUDELPHIA '
DESI(MATED ONE OP THE FEDERAL RESERVE CITIES AS LARGE KANUFACTURING
A C ’ CULTURAL :AND OTHER INTERESTS COULD THUS BE BETTER SERVED WE TRUST
IN YOUR FAVORABLE CINSIDERATION




SALEM NATIONAL BANKING 00.

p

I from the Unclassified 1Declassified Holdings of the National Archives

T w e

Fir s t

N a t io n a l

B a n k

o f S p r in g L a k e ,N .J .
O , H. BB&WN, President

E, V. PATTERSON, V ic e Pr es ’

F. f.S C K O C K , Cashier

C .H .C R A IG , ASST. Cashier

1 2 0 , 'C

Z r

/ * f / 3

ad# C
K
A
, xLa ±
c / /^ ~

£

C^sCtoiXnn
A/y\ cl

^

h jt u A

/h >

A

/_/ /^vcT
cj^fi (,‘,'rx/fCur* C j




j-

A r

d

*1

'°< U jL c fc ^

t ^ r c, g ,

rs c d rU

/^ c r ~

/P JL
% ycJ,

o i

a

C 4 ^>

c

I l a

£cM L

O -A .

^ A .

sT o

c /jU ^ /C it

/L ^ c r K

~ z fa ^ ,

o ~IAj

c r
$<D ~

s

' Reproduced from the Unclassified / Declassified Holdings of the National Archives

3878

When s e l e c t i n g t h e l o c a t i o n o f t h e R e g i o n a l
R e s e r v e Banks we t r u s t y o u w i l l e o n s i d e r l o c a t i n g one
i n t h e c i t y o f P h i l a d e l p h i a , Pa*
T h a t c i t y h a s f o r a l o n g tim e c o l l e c t e d
i t e m s p a y a b l e a l l o v e r t h e C o u n tr y f o r t h e J e r s e y
B anks a n d h a s a lw a y s b e e n r e a d y t o a s s i s t them i n
a n y way c o n s i s t e n t w i t h good b a n k in g *
We b e l i e v e i t w i l l be t o o u r a d v a n t a g e
of
t o h a v e o n e / t h e R e g i o n a l Banks l o c a t e d i n t h a t
C ity ,




Reproduced from the Unclassified I Declassified Holdings of the National Archives

WILLIAM HUGHES, N. ■)., CHAIRMAN.
THOMAS S. MARTIN, VA.
BENJAMIN R. TILLMAN, S. C.
ASLE J. GRONNA. N. DAK.
WILLIAM P. DILLINGHAM, VT,
JAMES J. O’ BYRNE, CLERK.




^ S )e n c x ie ^
C O M M IT T E E O N
E X P E N D IT U R E S

IN

THE

NAVY

DEPARTM ENT.

vl X

IP ,

v.
January 2, 1914

My dear Mr. MeAdoo:
I bag to enclose herewith two letters
from N at ional Banks in the State of New Jersey,
urging the selection of the City of Philadelphia
for one of the federal reserve banks.
Very respectfully,

The Honorable,
the Secretary of the Treasury.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

O ce^ n

C o u n ty

T r u st

iT A L
G E O .
A B M
B .
W

E .

I I .
,

C .

I I O L M

A N ,

S I 0 0 ,0 0 0 .0 0

p r e s i d e n t

B .

p h e s i d b n t

E N O , S K b a g iT D

I L L I A M

C o m pa n y

W

p

P R H jp K N T

F . K m O T & T S ,

T J p A S U H B H

I . W . CM.RMICH^M^Hr, C O U 5 P B L a.sti> t r u s t

o ffio b h
t

o

m

s

r

i v

e

r

,

December, 29th*i»i'3«

sati<^ Committee of Federal
*rve

\hio£to®

D. G.

Dear* Sirs.
wish to be recorded as recoecending, the City of
Philadelphia, as one of the Cities for the establishment of one of the Federal aese
Banks, and hope you can consider it favorably.
yours Truly.
r\
% *'r




«<-___ A

Ofceaa-County Trust company.
President.

f
1

<

'

j

Reproduced from the Unclassified I Declassified Holdings of the National Archives

S

G sm ittefc fo r Organising Begioaal Banka aad
S e le c tin g o f Jteserve C itie a ,
IM hington, & C*
Honorable Sirs*
Kay w® speak & word in behalf o f the advantages of
the City of J tiila le lp h la for the lo c a tio n o f a Regional Reserve Bank
in that City?

She bulk of our out-of-tow a business has been handled

by H iila d elp iiia in s titu tio n s for many y ea rs.

In th at c it y we have

maintained the la rg est part o f our reserve accounts.

I t i s o f p artiou -

lap advantage to us beoause of i t s lo c a tio n , as we find i t necessary
to send a messenger to our correspondent on an average of at le a s t
three tiioes a week.

We tr u st that wheaa your Comitte© considers the

m erits o f the d iffe r e n t c i t i e s under consideration that you w ill fin d
i t advantageous to lo c a te one of the banks a t H iila d elp h ia .




Cashier*

1914
(rw ^ ts

j




SURPLUS $500,000

CAPITAL $500,0 00

THE TRENTON BANKING COMPANY
CHARTERED

1804

T R E N T O N , N .J.
J O H N A .C A M P B E L L ,

p r e s id e n t

H E N R Y W: GREEN , v . p r e s .

R O B E R T W- H O W ELL, c a s h ie r

FOSTER C.S R 1FF1TH ,V . p r e s

IR A F R O S T ,

a s s t , c a s h ie r

D ec. 2 6 , 1 9 1 3 .
Hon. W il l ia m G. McAdoo, S e c r e t a r y o f t h e T r e a s u r y
W a s h in g to n ,
D.C.
D e ar S i r :
As a Hew J e r s e y b a n k h a v i n g h a d r e l a t i o n s
w i t h P h i l a d e l p h i a f i n a n c i a l i n s t i t u t i o n s f o r m ore
t h a n one h u n d r e d y e a r s , we a r e n a t u r a l l y i n t e r e s t e d
i n t h e b a n k in g f a c i l i t i e s o f t h a t c i t y , a n d we beg
l e a v e t o s a y t h a t we s h o u l d b e v e r y h a p p y t o h a v e
P h i l a d e l p h i a d e s ig n a te d a F e d e ra l R eserv e c i t y .
P h i l a d e l p h i a , a s one o f o u r g r e a t e s t
and m ost c o n s e r v a t i v e b a n k i n g c e n t e r s , i s , we f e e l ,
e n t i t l e d t o p o s s e s s a F e d e r a l R e s e r v e B ank, a n d
we w ould r e s p e c t f u l l y a s k t h a t y o u g r a n t i t
s e r io u s c o n s id e r a tio n in t h i s c o n n e c tio n .

P” *-'

■
Reproduced from the Unclassified / Declassified Holdings of the National Archives

ROYAL

P . T U L L E R . V ice P r e s .

HERBERT

W ILLIAM

CH AM BE R S,President.

J.PIERSON

C.BARTLETT,ViCE-PRES.

R E E D . S e c ' Y & T r e a S,

L , N E W C O M B, A T T O R N EY,

Fi n e i a n d

V IN E IA N D ,N ,J.

S ecretary

Dec.

20,

1913.

of the T reasury

W a s h i n g t o n , D.

C*

D e a r S la r ::
I take the

lib e rty

of u r g in g upon you th e

o f a f e d e r a l R e s e r v e Bank i n
atten tio n
c ities

th e fa c t

P hilad elp h ia,

th a t P h ilad elp h ia

of th e U nited

S tates

in

its

w ell as

a very

P ennsylvania,

larg e te r r ito r y

callin g

to your

stan d s t h i r d w ith th e

banking

J e r s e y depends upon P h i l a d e l p h i a f o r

estab lish in g

its

resources.

S outh

accom m odation

as

a d ja c e n t to P h ila d e lp h ia

C e n t r a l an d ITorth J e r s e y ,

in

D elaw are and M aryland,

T h e w e l l kn o w n c o n s e r v a t i s m a n d a b i l i t y

o f th e hanking f r a t e r n i t y

of P h ila d e lp h ia ,

th e utm ost c o n s id e r a tio n

we f e e l

is

en titled

to

a n d we t h e r e f o r e u r g e u p o n y o u t h e c o n s i d e r a t i o n o f t h a t
in your s e le c tio n




C ity

of a l o c a t i o n f o r r e g io n a l banks.

T r u s t i n g you

w ill

s e e y o u r way c l e a r t o

d esig n ate

Reproduced from the Unclassified I Declassified Holdings of the National Archives

P H I L I P P. B A K E R , P r e s t
B E N J .F . L A D D ,Vice P r e s t .
G E O R G E D A V I D S O N , Ca s h i e r

S .C .P A R K E R , A S S '.C a sh ie r
H A R R Y G . W A L L S , As s t . C ashier

Dec,

V i n e l a n d ,N.J.

30.

1913«

Dear S i r : We w o u l d r e s p e c t f u l l y a d d o u r r e c o m m e n d a t i o n
t h a t P h i l a d e l p h i a he a p p o i n t e d a R e g i o n a l
r

R eserv e Bank, b e l i e v i n g
p articu larly

th is

w ould h e lp

S outh J e r s e y .
Very t r u l y

MS.




yours,

C ashier*

Reproduced from the Unclassified / Declassified Holdings of the National Archives




Hon. W il l i a m G. McAdoo,
S e c re ta ry of th e T reasu ry ,
W a s h in g to n , D. 0.

H o no red S i r : We b e l i e v e i t w ou ld b e f o r t h e
go od a n d t e n d t o w a r d t h e s u c c e s s o f t h e new
C u r r e n c y S y s t e m 3 i f P h i l a d e l p h i a i s madd. one
o f t h e R e g i o n a l R e s e r v e C i t i e s , a n d we r e s p e c t ­
f u l l y a s k you t o u s e y o u r i n f l u e n c e i n h a v i n g i t
so d e s ig n a te d .

Reproduced from the Unclassified / Declassified Holdings of the National Archives

.

S.xCONNER,

Pres

DAVID O. WATKINS,

it

CHAS. O. CORSON,

F IR S T

1 STA

v ic e

P resident

Ca s h i e r

.T IO IN 'A L B A K K

W E ST V IL L E , N . J.
*

^

a

c a a

dsU suLd

s

u

( y

^

L

y
JvU x^f

C J h rjL s n A jX y U f

U
j

i

t

cu<2^

c^ u

(Aa a J
A m

rK < u A < A o y , ^y<U A . y » -r




S

7 s

^ L A A y< ^ ^
A L tA

~% e^LA y

^ ca)~ ~
^

' ^ t^

-

Reproduced from the Unclassified

I Declassified




Holdings of the National Archives

Committee fo r Organizing Regional Banks*
Washington,
If* 0*

Gentlasajan,

In view o f the fa c t t h a t

80% o f

the cheeks which

are deposited w ith us are on banks in o r near Philadelphia
and th a t we Mist c o lle c t these items a t the e a r l i e s t p ossib le
moment i t w i l l be a very g reat inconvenience to us i f Philadelphia
i s not chosen as a Reserve City*

Reproduced from the Unclassified I Declassified Holdings of the National Archives




-

- ------

T

Reproduced from the Unclassified I Declassified Holdings of the National Archives

C A B L E A D D RE S S
“ DEXTRO" PH ILADELPHIA.

CODES
W ESTE RN

OFFICES
N e w Yo r k ,
IOO JOHN S T .
W
llll

il w a u k e e

,

B o s to n ,

in n e a p o l is

,

427-429WASHINGTON AVE.N

n d o n

S tL o u is .

186 PU RC H ASE ST. 215 C H ES TN U TST.

Pit t sb u r g h ,
2 0 9 TH IR D AVE.
M

613 CASWELL BLOCK
Lo

OFFICES

C h ic a g o ,
2 2 2 - 2 2 4 W. LAKE ST,

a s h in g t o n ,
14™ ST. N.W.

M

U NIO N

U N IV E R S A L EDITION

Bu f f a l o ,
17 T E R R A C E

P h il a d e l p h ia ,
NORTH AMERICAN BLDG

C in c in n a t i,
S 2 S MAIN ST.

Clev ela n d ,
I3 S 7 W.NINTH ST.

,

CAXTONHOUSE, WESTMINSTER,S.W.

^

m bler,

To the

Hon. 4.tUi

P e n n a ., U.S.A.

^ ^ ^ NT Qp i y c

| N O ^^

Januaiy 14th, 1914.

am
McAdoo,
iecr^tary of the Treasury,
Washington, D.C.

Dear Sir:
At the annual meeting o f the stockholders of our Corporation
held t h is day, the Secretary of our meeting was unanimously d irected to
send to you the enclosed l e t t e r as v o icin g our stockholders opinion as
to the proper s e le c tio n of at le a s t one of the Regional Banks.

May we

beg of you to give t h is l e t t e r your usual courteous a tte n tio n and o b lig e
Yours r e s p e c tfu lly ,
HVE/M .

Estimates limited to thirty days’ acceptance.



Prices subject to change without notice.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

CABLE ADDRESS
" D E X T R O " P H IL A D E L P H I A

CODES
W EST ER N

OFFICES
N e w Yo r k ,
IOO JOHN S T.
a s h in g t o n ,
III I 14-TH ST. N.W.

M

il w a u k e e

,

B o s to n ,
86

P

i t t s b u r g h ,
2 0 9 THIRD AVE.

M

613 CASWELL BLOCK
Lo

OFFICES

C h ic a g o ,
2 2 2 - 2 2 + W,LAKE ST

W

in n e a p o l is

S t L o u is,

PU RC H ASE ST.

B

,

427-429 WASHINGTONAVE.N

n d o n

u n io n

U N IV E R S A L EDITION

215 C H E S T N U TS T .

u f f a l o ,
17 T E R R A C E

P

h il a d e l ph ia ,
NORTH AMERICAN BLDG

C in c in n a t i,
5 2 8 MAIN ST.

Clev ela n d ,
I3 8 7 W .N IN T H ST.

,

CAXTONHOUSE, WESTM!NSTER,SW.

ASBESTO S

H E A D Q U A R T E R S FOR

ASBESTOS SHEATHING, PAPER, MILLBOARDS 8<c. *
AND FIRE-PROOF COVERINGS OF EVERY DESCRIPTION
A S B E S T O S M A N U FA C TU R E S GENERALLY

A m b l e r , P e n n a .. U.S.A.
To the

ind'N'<V

January l4th 7°X M |D
.

Hon. W illiam G. MeAdoo,
Secretary of th e Treasury,
Washington, D. G.

Dear S ir : We understand from our c a refu l reading of the r e c e n tly enacted
"Currency Act” in to Law th at i t was created and passed with the s p e c ia l
object in view of preventing the undue concentration o f the Hations de­
p o s its in th e larger Banks of Hew York C ity and thus a u tom atically p lacin g
a source of concentrated money power in th e hands of a sm all c o te r ie of
hankers who use it through th e ir fin a n c ia l genius suggesting to them th e
widespread and e f f e c t iv e system of in te r lo c k in g d ir e c to r a te s, through
which th ey v ir t u a lly la id the e n tir e country under tr ib u te for th e ir own
personal enrichment at th e expense o f th e whole people I

That t h is was

r e a lly th e r esu lt o f th is money concen tration was c le a r ly shown by th e
report of the Pujo Committee which although w e ll known to us p erso n a lly ,
la id the p ertin en t f a c t s bare to th e contem plation of the P u b lic.

Y/e

regard to Pujo report as la r g e ly con trib u tin g to th e passage of th e
"Currency Act", necessary as some sort of Act was, to g e t away from our
antiquated currency laws — which everyone r e a liz e d had been long out


Estimates limited to thirty days’ acceptance.

Prices subject to change without notice.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

grcwn toy th e nt j s s i t i e s of modern "business*
In order to g iv e v i t a l i t y 1/ t h is Act, how is i t p o ssib le t o
do otherw ise than s e le c t P h ila d elp h ia /a s one o f the f i r s t s e le c te d "Regional
Bank” C it ie s , a s a matter o f th e most ordinary J u stic e and equity?

To

a s s o c ia te P hiladelphia w ith Hew York renders th e whole Act a laughing
stock to th e in te r n a tio n a l fin a n c ia l world and very c le a r ly shows that
Hew York has ”put one over” on th e Secretary of the Treasury and h is
a s s o c ia te s , to whom has been given the mandate of p u ttin g the Act in to
operation, a s intended by Congress and our P resid en t.
P hiladelphia i s the most su b sta n tia l American C ity on t h is
Continent*

Everybody knows that I

than other c it ie s *

I t s Bank cle a r in g s show l e s s v a r ia tio n

I t is the very f i r s t manufacturing c it y in th is

Country i f we omit such "manufactures”as sweat shop c lo th in g and sim ila r
a r t ic le s *

I t is the second or th ird c i t y in th e Country in i t s ownership

of r e a l C ap ital and f i r s t in i t s r e a l c r e a tiv e importance; in i t s s k ille d
a r tis a n s , i t s t h r if t y c it iz e n s and household ers.
W ell! There is no use in going on to say what P h ilad elp h ia i s ,
as i t dominates th e whole manufacturing industry o f the United S ta te s.
Everybody knows th a t!

As we who are assembled here today are in te r e ste d

in our home c it y because of i t s re a l in t r in s ic worth, we beg o f you to
r e s i s t to the utmost th e machinations o f our s is t e r c i t i e s , ignobly com­
p etin g far t h is p r iz e which without party f e e lin g should be s e le c te d
upon account of m erit alon e, in p oin t of which P h ila d elp h ia must n e c e ss a r ily
stand second or th ir d upon the l i s t o f c i t i e s s e le c te d by Secretary McAdoo.
We n a tu ra lly look to you to use your utmost endeavor to secure a Regional
Bank fo r P h ila d elp h ia , and we blush with m o r tific a tio n , th a t we ask you
to help to do t h i s , for as a r e a l man w ith th a t innate sense of ju s tic e
common to a l l r e a l men, you cannot do otherw ise than r e s i s t to th e very l a s t
any Endeavor to tak e the Regional Bank away from t h is s e c t io n . To do th is
would be a crim e.
Yours r e s p e c tfu lly ,




p * ——

Reproduced from the Unclassified / Declassified Holdings of the National Archives

ca ble: a d d r e ss
" D E X T R O " P H IL A D EL P H ( A .

CODES
W E S T E R N UNION
U N I V E R S A L ED ITIO N

OFFICES
N

e w Yo r k ,
IOO JOHN S T.

W

a s h in g t o n ,
l l l l 14-T* ST. N.W.

OFFICES

Ch ic a g o ,
2 22-22-t W.LAKE ST

B o s to n ,

S tL o u is ,

186 PU RC H ASE ST.

2 15 CH ESTN UT ST.

Bu f f a l o ,
17 T E R R A C E .

P h il a d e l p h ia ,
NORTH AMERICAN BLDG.

P

it t s b u r g h ,
2 0 9 T H IR D AVE.

M il w a u k e e ,
M in n e a p o l is ,
613 CASWELL BLOCK . 427-429WASHIN6T0N AVE.N

C

in c in n a t i,
5 2 0 MAIN ST.

Clev ela n d ,
1387 W.NINTH ST.

Lo n d o n ,
CAXTON HOUSE, WESTMINSTER,S.W.

To th e

Hon D. F
Sec

Dear Sir:
At th e annual meeting o f the stockh olders of our Corporation
held t h is day, th e Secretary of our meeting was unanimously d irected to
send to you th e enclosed l e t t e r as v o ic in g our stockholders opinion as
to the proper s e c tio n of at le a s t one of the Regional Banks,

May we

“beg of you to g iv e t h i s l e t t e r your usual courteous a tte n tio n , and o b lig e ,

HVE/M.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

C A B L E A D D RE S S
" d e x t r o ’’ p h i l a d e l p h fA

CODES
W ESTERN

U NIO N

U N IV E R S A L EDITION

OFFICES

OFFICES

zo

C h ic a g o ,
2 2 2 - 2 2 * W.LAKE ST

e w Yo r k ,
O JOHN S T.

Wa sh in g t o n ,
III I 14-TH ST. N.W.

B

o s t o n ,
186 PU RC H ASE ST.

Pit t sb u r g h ,
2 0 9 TH IR D AVE.

M il w a u k e e ,
M in n e a p o l is ,
613 CASWELL BLOCK . 427-929WASHIN6T0NAVE.N
Lo

n d o n

S t Lo u i s ,
215 C H E STN U TS T.

Bu f f a l o ,
17 T E R R A C E

P h il a d e l ph ia ,
NORTH AMERICAN BLOG.

C in c in n a t i,
5 2 8 MAIN ST.

Clev ela n d ,
I3 8 7 W .N IN T H ST.

,

CAXTONHOUSE, WESTMINSTER,S.W.

x

To the

T -*

T T /->

x

^

of

IT S KINO ^

A m b l e r , P e n n a .. U.S.A. Januaiy 14th, 1914.
Hon. D. P. Houston,
Secretary o f A gricu ltu re,
Washington, D. G.

Bear Sir:
We understand from our c a r e fu l reading o f th e r e c e n tly enacted
"Currency Act" in to Law th a t i t was created and passed with th e s p e c ia l
object in view of preventing the undue concentration o f the Nations de­
p o s it s in the larg er Banks of New York C ity and thus au tom atically p la cin g
a source of concentrated money power in the hands of a sm all c o te r ie of
bankers who use it through th e ir fin a n c ia l genius su g g estin g to them th e
widespread and e f f e c t iv e system of in te r lo c k in g d ir e c to r a te s, through
T^iich they v ir t u a lly la id the e n tir e country under tr ib u te for th e ir own
personal enrichment a t the expense of th e whole people I

That th is was

r e a lly th e r e s u lt of th is money con centration was c le a r ly shown by th e
report of the Pujo Committee which although w e ll known to u s p erso n a lly ,
la id the p ertin en t fa c ts bare to the contem plation of the P u b lic,

We

regard the Pujo report as la r g e ly con trib u tin g to the psssage o f the
"Currency Act", necessary as some sort of Act was, to g e t away from our
antiquated currency laws — which everyone r e a liz e d had been long out­
grown by th e n e c e s s it ie s o f modern b u sin ess.
Estimates limited to thirty days’ acceptance. Prices subject to change without notice.



Reproduced from the Unclassified / Declassified Holdings of the National Archives

In order to g iv e v i t a l i t y to th is Act, how is i t p o ssib le to
do otherw ise than s e le c t P h ilad elp h ia as one of the f i r s t s e le c te d "Regional
Bank” C it ie s , a s a matter o f th e most ordinary ju s tic e and equity?

To

a s s o c ia te P hiladelphia w ith Hew York renders the whole Act a laughing
stock to the in te r n a tio n a l fin a n c ia l world and very c le a r ly shows that
Hew York has "put one over” on the Secretary of the Treasury and h is
a s s o c ia t e s , to whom has been g iv en the mandate of p u ttin g the Act in to
operation, as intended by Congress and our P resid en t.
P hiladelphia is the most su b sta n tia l American City on t h is
C ontinent.

Everybody knows th a t!

than other c i t i e s .

I t s Bank c le a r in g s show l e s s v a r ia tio n

I t is the very f i r s t manufacturing c it y in t h is

Country i f we omit such "manufactures” as sweat shop cloth in g and sim ila r
a r tic le s .

I t is th e second or th ird c it y in th e Country in i t s ownership

o f r e a l C apital and f i r s t in i t s r e a l c r e a tiv e importance; in i t s s k ille d
a r tisa n s, i t s t h r if t y c it iz e n s and householders.
W ell!

There i s no use in going on to say what P hiladelphia i s ,

as i t dominates the whole manufacturing in d u stry o f the United S ta te s.
Everybody knows th a t!

As we who are assem bled here today are in te r e ste d

in our home c it y because of i t s r e a l in t r in s ic worth, we beg o f you to
r e s i s t to th e utmost th e machinations o f our s i s t e r c i t i e s , ignobly com­
p e tin g for t h i s p r iz e which without party f e e lin g should be s e le c te d
upon account of m erit alon e, in point of ^ i c h P hiladelphia must n e c e s sa r ily
stand second or th ird upon th e l i s t of c i t i e s s e le c te d by Secretary McAdoo.
We n a tu ra lly look to you to use your utmost endeavor to secure a Regional
Bank fo r P h ila d elp h ia , and we blush w ith m o r tific a tio n , th a t we ask you
to help to do t h i s , fo r

sb a

r e a l man w ith th a t innate sense of ju s tic e

common to a l l r e a l mean, you cannot do otherw ise than r e s is t to th e very l a s t
any endeavor t o
take the Regional Bank away from t h is s e c tio n . To do t h is
would be a crim e.
Yours r e s p e c t fu lly ,
hve/ m.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

W . P. A L B R IG H T , P u r

P. W . W E ID M A N , V ic e PRE6.
H . h . D IE H M , C

A

t

o

t

t

as h ier .

J J a i i m r c l

AKRON, PA.

S a u k ,

Jan. 7, 1914.

Regional Reserve Bank Organization Committee,
Washington, D. C.
Gentlemen:We beg to c a l l your a tte n tio n to the importance of having
a Regional Reserve Bank located in Philadelphia# That t h is c it y i s
c e n tr a lly located in one of the r ic h e st se c tio n s of the United S ta te s,
i s proven by the f a c t that i t ranks third in the United S ta tes in
banking resou rces, th ird in the amount of d ep o sits and has a greater
number of out of town bank accounts than any other c it y in the United
S ta tes except New York and probably Chicago.

P h ilad elp hia i s one of

the o ld e st fin a n c ia l cen ters of the United S ta tes and has proven
i t s e l f to be the natural reserve center fo r the e n tir e s ta te of Penn­
sy lv a n ia , which ranks second in resou rces.
Trusting that these fa c t s w ill not be overlooked by t h is
committee and that i t w ill be guided by i t s b est judgment in the mat­
te r , we are,




Respectj

Cashier

Reproduced from the Unclassified / Declassified Holdings of the National Archives

E S T A B L IS H E D

T

h e

A

l l e n t o w

n

N

IS S 5

B

a t io n a l

a n k

Capital $ 1,000,000.00
R E U B E N J . B U T Z , PRESIDENT
DR. C. D. S C H A E F F E R ,V ic e P res
JO H N F .W E N N E R , C a s h i e r
C H A S . S .O I L C H E R , A s s t .C a s h i

A llentown , Pa.
January 3, 1914..
Hon. William G. MeAdoo,
Secretary of the Treasury,
Washington, D. C.

>7

W*
K fz

Dear S ir:
The Allentown n ation al Bank r e s p e c tfu lly requ ests the organi­
zation of a Federal Reserve Bank in the City of P hilad elp hia and
State of Pennsylvania, and we beg to co n c ise ly sta te our reasons for
making such a request.
P hilad elp h ia has always been, and w ill ever be, the natural
place for the tran saction of the commercial, and e s p e c ia lly the banking,
busin ess of our community.
I t would be exceedingly inconvenient to be compelled to tra n s­
a ct such b u sin ess,a s we w ill have to do w ith the Regional Bank, e ith er
w ith New York, or w ith B a ltim o r e ,-e sp e c ia lly i s th is true w ith regard
to the la s t named City by reason o f the fa c t that the means of communi­
cation whether through the m ails, or by common ca r r ier , are in d ir e c t
and would require such a length o f time as to hamper and de "iH,y UIFST*

Form i

ness tra n sa ctio n s.

-

I t i© our understanding that the Federal Reserve Board ...
d esires to be advised of the views of the I n s titu tio n s which w ill com­
pose the member Banks and for that reason we have taken the lib e r ty
of addressing you.




Very tru ly yourr;
s i dent

P "” * 1

“

^ ^ ^ ^ ^ ^ » . . . _ j i u l i i . i ..

Reproduced from the Unclassified I Declassified Holdings of the National Archives

S

econd
A

E

d w a r d

H

a r vey

,

N a t io n a l B a n k

llentow n
p r e s id e n t

C. H. M

.

o y e r

T

, Fa .

h o s

, Ca

. E. R

s h ie r

it t e r

,

v ic e

pres

.

January 7th 1914.
Hon. Wrn. Cx. Me A d o o , Chairman,
federal Reserve Board,
Washington, I). C.
Dear Sir:
In deciding upon the location of the various
Legal Reserve Banks, w e feel it would be a decided advantage
to the banks in this vicinity if a Reserve Bank were located
in Philadelphia.

The reason for suggesting this is that the

banks have for years been doing their larger volume of busi­
ness through Philadelphia and it would be inconvenient to
divert all this business to New York City.
Had the banks found it more convenient to have
done their business through New York heretofore, they would
not at this time feel that Philadelphia should be named as
a Reserve City.
Trusting your Board will give this request due
consideration, I beg to remain,




Reproduced from the Unclassified I Declassified Holdings of the National Archives

AND R EW KREIDER,

P




i e f

«t .

C. V. H ENRY, V ice P rbsidhnt .

GEO.

W. STINE,

C

a s h ie r

.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

F rank
John

H . W il s o n m o o r h o u s e , v . p r e s .

9905

K . M i l l e r , p r e s id e n t
... „
W . C l a g h o r n . c a s h ie r

T

h e

r o l l in

CAPITAL, $50,000.00
A r d m o r e
N ational B
MEMBERS AMERICAN AND PENNSYLVANIA BANKERS ASSOCIATION

N o r r is , v ic e -p r e s id e n t

a n k

U N IT E D S T A T E S D E P O S IT O R Y , P O S T A L S A V IN G S F U N D S
ARDM ORE,

Hon*

M ONTGOM ERY

C O .,

PA.

Dec. 2b, IQI3 *

William G* McAdoo,
Secretary of the treasury,
Washington, B. G •

Pear Sir: The Officers of the Ardmore national Bank: wish to
endorse your consideration of Philadelphia, as one of the Fed­
eral Pesenre Cities, and hope that in the enactment of the now
Currency Bill, Philadelphia will be favored by your neloction,
as one op the eifrht or more cities to be named*
We assure you wo will appreciate anything yon can do
for ns in this matter*




Tours very trnlv.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

E . B . J fe R M Y N , P r e s i d e n t .

J. J. K E A R N E Y , V i c e P r e s i d e n t .

L. S . P A R SO N S, C a s h ie r .

vDec*37,1913

Secretary o f the Treasury
Washington,D.C.
Dear S ir : I w o u ld .resp ectfu lly and urgently request
that your in flu en ce be u se# toward d esign atin g P h iladelp hia as one
o f the Reserve C itie s under the new currency aot*
I b e lie v e that as a b u sin ess center and because o f i t s fin a n c ia l
strength and i t s recordjbecause o f i t s lib e r a l treatment of other
b a n k s;its convenience to the large numbeijof bank# in t h is se c tio n
of Pennsylvania i t should.bs' s© designated and I beg to assure you
that anything you may do in the d ir e c tio n in d icated w ill be sin cere­
ly appreciated,
Very r e sp e c tfu lly

P,A




Reproduced from the Unclassified / Declassified Holdings of the National Archives

C a p i t a l $ e o ,o o o
S u r p l u s a n d U n d i v i d e d P r o f i t s $ ie o ,o o o .

T

h e

C

i t i z e n s

N

a t i o n a l

B

a n k

^ P r e s id e n t
O . B . M I L L A R D ,V ic e
W .8 . R O T H E R

A

s h l a n d

,P e

n n a

.

December 29, 191^.
jsiadttee for Organization,
Federal Reserve Banks,
Care of the Secretary of the Treasury,
Washington,
Gentlemen;

D.

r^

\ j ](z ^
jL.A
We respectfully request your
consideration at to the selection of the
City of Philadelphia, for the location of
one of the Federal Reserve Banks.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

GEORGE

J . D . M C C O N N E L L , PRE?

F L U E H R , v ic e p r e s id e n t

G E O , F. R E N T Z , c a s h ie r .

Capital $ 1 0 0 ,0 0 0 .
UNITED STATES DEPOSITARY

T h e A s h l a n d N a t io n a l B a n k
Ashland. P a.. December 36th, 1913

HoruWilliam G.McAdoo
Secretary o f the Treasury,
Washington, D.C.,
S ir : - The Ashland. National Bank o f Ashland,?&•most r e s p e c tfu lly
requests favorable con sid eration of the City o f P h ilad elp h ia#P a#>
as one of the d esira b le p la c e s in which to e s ta b lis h a Federal
Reserve Bank as provided fo r in the Currency b i l l ,
Almost a l l of the business of the country banks in the
S tate of Pennsylvania ana adjoining S ta tes i s and has been
done through the various P h ilad elp h ia Banks and we f e e l that
the e sta b lish in g

of one of the Federal Banks in t h is City

would be a great advantage to the sa id country banks as w e ll
as to the Government a t large,
We might add that the r e la tio n s which the various oountry
banks have had w ith the P h iladelph ia Banks have been a source
o f p r o f it and p leasu re and we hope that in the e sta b lish in g
o f the various Keserve Banks the City o f P h ila d elp h ia w ill be
favorably considered, i t being w e ll adapted on account o f i t s
d iv e r s if ie d in te r e s ts to serve a l l p a r tie s w ith s a t is f a c t io n
and to good advantage.




Very tr u ly yours

I

■PW —

PHI "

'

IIIW *1

■

myiiij

Reproduced from the Unclassified I Declassified Holdings of the National Archives

T H O M A S J. P H ILIPS ,

W . S.

P r e s id e d .

H A ST IN G S,

v ic e

HORACE

P r e s id e n t.

L.

SK1LES,

C ask

No. 7 0 5 6

C.X\^
r ^

C a p ita l.
S H A R E H O L D E R S ' LIA B ILIT Y.

$ 4 0 ,0 0 0
$ 4 0 ,0 0 0

ORGANIZED, NOV. 2 4. 1903,
•ARTERED. DEC. 6.

1903.

MMENCED BUSINESS. DEC, 21,

1903.

3 ^

,

H

i a

y„-

DEC 27 CT3 __10l

N S W

'




1 ^.,
19*

A Stn^JL . ‘ t h u -

t

I

/

v

Reproduced from the Unclassified I Declassified Holdings of the National Archives

T H O M A S J.

P H IL IP S ,

Pr e s id e n t .

W,

S.

H A S T IN G S ,

N o.

V ic e Pr e s id e n t ,

HORACE

L.

S K 1 L E S , CA9HIER

7 0 5 6

O fI p

pnnlt
C a p it a l .

$ 4 0 ,0 0 0

S h a r e h o l d e r s 1 L ia b il it y . $ 4 0 , 0 0 0
o r g a n iz e d

. N ov. 2 4 . 1903,

C h a r t e r e d , ' Dec. 6.

1903,

Co m m en c e 4&*Bu s in e s s , d e c , 21. 1903.

.X0jl

■—

-

f

J

a

u




j -

$ e n E E

Reproduced from the Unclassified / Declassified Holdings of the National Archives

P O S T A L. j

E L E B R A P H -C A B L EA C O M PA N Y
N

I

G

H

T

L

E

T

T

E

R

G

R

A

M

o

TE R M S AND C O N D IT IO N S P R IN TE D ON T H E BACK OF T H IS BLANK.

IX

C L A R E N C E H . M A C K A Y , P R E S ID E N T .
D

e l iv e r y

III*!,' (ft
INDEPENDENT

COM PETITIVE

PROGRESSIVE

4-383
p

27

> 4

ATHENS
HON

WM

PA

G

EXTRA
DEC

NL

26' 1 3

MCADOO

\

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.jS '

WASHN
CO N SID ER IN G

’ C I.T Y

IT

WE

ONE

PH ILA D ELPH IA

REQUEST

OF

THAT

YOU

DC
A. V E R Y

l!S E

' .IH P O R T A .ffl'^ iQ © >'C O N V E N I E N T

YOUR

INFLUEN CE

IN

MAKING

F E D E R A L' RESERV E C l T I E S .




n

TH E POSTAL TELEGRAPH-CABLE COMPANY- (IN C O R PO R A T ED ) T R A N S M IT S AND DELIVERS T H IS N IG H T LETTERGRAM S UBJEC T TO THK

RECEIVED AT

M, 6 9

o

ATHENS

N A T L , BANK
A' S L E E P E R

'

,

'C A S H IER

D

SO LO M A N

J . P U S E Y , PR EST.

©fre M aiimml 51smk d JWwfrttb
Awwitob^pfa.
D ecem ber 29,1913

H o n /S ecretary o f th e Treasury #
/
Hear

W ashington,D .C .

sips-*
We to elia v e th e R eg io n a l R eserve Bunks sh o u ld

perforin fo r th e ©ember banks a l l th e s e r v ic e s now performed
by R esorve A gen ts.

As th e y «are t o h o ld a l l the r e s e r v e o f th e

member bank, not h e ld in th e i f w m v a u lt , and w ith ou t i n t e r e s t ,
th ey sh o u ld * in our o p in io n ,b e a b le to g iv e f u l l r e s e r v e
a g e n t s e r v ic e * I f th ey do n o t th e mesfeer banks w i l l be re q u ir e d
to keep as now a d e p o s it w ith t h e ir c i t y corresp on d en t in
ftrder to have t h e i r c o l l e c t i o n s made.
As P h ila d e lp h ia i s th e th ir d l a r g e s t c i t y in
f i n a n c ia l im portance we b e lie v e i t im portant th a t t h i s
c i t y be d e sig n a te d fo r a R eserve Bank even i t i t sh o u ld
r e q u ir e t h a t the f u l l number o f R eserve Banks a u th o rized
be organ ized *

We b e lio v e t h i s t o be t r u e ,e s p e c i a l l y i f th e

R eserve Banks are to perform c le a r in g and c o l l e c t i o n b u s in e s s .




lo u r s v ery t r u l y ,

/
C ashier*

p-

' ■

Reproduced from the Unclassified / Declassified Holdings of the National Archives

TH O S

BO LG ER ,
V ice Pr e s id e n t .

A .A .S E E M .M .D
P r e s id e n t -

W M . H. S M IT H ,

G EO . H. W IS E ,
Tr e a s l
W - A - S M IT H ,

S ecretary .

A

s s t .Tr e a s l

(Tin' |iitn u ,ar (irm .t (tum p ait u
M a u g u r , I I a * December
ffwenty-ftinth.
Nineteen
Thirteen.

Hon. William S. KoAdoo,
Secretary of the Treasury,

,
^

\r

Washington* 1 * C f
Dear Sir:-

We are led to understand from newspaper and

other sources that there ia a question about th * estab­
lishment of a Federal Reserve Bank in Philadelphia.
’
7e desire to urge upon you the advisability
of considering Ph iladelphla for a Reserve Institution,
Pennsylvania Banks generally have been accorded the
best of treatment at the hand? of the Philadelphia Banks,
and I Relieve that jamaeroua correspondents throughout the
United States # 1 1 1 attest to the correctness of the above
statement.
Our itens have always been collected at i >a r f
which saves us money and facilitates our exchanges, and
for courtesy and general treatment we could ask no better.
Speaking for ourselves, we would much prefer the establisment of a reserve bank in Philadelphia than Hew Tork City*




x

r—

T

Reproduced from the Unclassified I Declassified Holdings of the National Archives

THOS

A . A ,S EE1M , M .D .

BO LG ER ,
V ice Pr e s id e t

PRESIDEh

WM . H. S M IT H ,
S ECRETARY.

(£)

I trust that you will &ive the natter your
full and thoughtful cansideration^ and I believe that
if Philadelphia is selected as a Reserve Bank G i t h a t
such a decision on your part will be found to he ei-iinent*
ly satisfactory to the country at large*




Tr e a s u r e r .
W - A - S M IT H ,
As s t Tr e a s u r e r .

l a n g u r , JJa.

Hon. T. (I. KoAdoo

G E O . h . w i s e :.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

WM. BRAY.Pf

nt.

CHAS.N. MILLER, V. President.

ANDREW EYER,Cashier.

4-513. ;

O n '

ill m i n t

it t * J f a t i 0 n a l ®

m

k .

---January 6 ,______ I^UTL4

lankVote(VStLouU-

Philadelphia as a "business center and because of its
financial strai-^e and record, is entitled to a federal
reserve bank.

We shall greatly appreciate it if you will

recommend this City as one of the Federal Reserve Cities.
Philadelphia has always been regarded as one of the most
conservative and constructive Cities and is entitled to
have one with banking resources of |l, 000,000.00 wa r r a n t .
Very respectfully yours,
_
/\ N




_ _..... Merchants national Bank.
^

uQ id

I

1

Pre/identT

Reproduced from the Unclassified/ Declassified Holdings of the National Archives

T h e F ir s t n a t io n a l b a n k
OF BALLY
Oh. W , M E L O H S 2 H , P b b s i o i x x
A . SC* W H L L E K , V i o « F b b s i d s j i t
® . B , L A T S H 1 W , V ic e F s b s id x n t
W I L L A H D K . W I S E , Ca sh ikb

$>

B

a l l y , P a .,..Dec......31.,.1.911

191

Comcnitte for Organizing Banks,
Washington, D.C.
Gentlemen: We notice by the newspapers
that there is some doubt of Phila. getting
one of the Regional 'Reserve Eanks.
We would ask that you give
careful attention to the needs of the
country banks of Penna. of which we are one
note their deposits and clearings, and
remember that most of us have to look
to Phila. for prompt and efficient service.

fmm

F or




Is

. N S W E R E -

ner
d

e’prdcfuced from the Unclassified7 Declassified Holdings of the National Archives

. A. ULSH

J. H. DREESE
Vice President

President

J. F. SN

5777
*

F

ir s t




N

a t io n a l

B

ank

of Beaver Springs, Penn£.

DEC 3 4 1913

^

Beaver Springs, Pa., ^ _________________ 191

..

. . . . . . . . .u . , _ , y

Reproduced from the Unclassified I Declassified Holdings of the National Archives

a
P R E S ID E N T

VICE PR ESi DE NT

G E O . L .R U S S E L L

JO H N

B. F L O Y D .

C A S H IE R

A .C .H E L F R IC K

5306

S e c re ta ry of the T reasury,
W a s h i n g t o n , D. 0 .
Dear S i r : I n t h e naming F e d e r a l R e s e r v e C i t i e s , w h ic h you w i l l
do s h o r t l y , I w o u l d r e s p e c t f u l l y u r g e t h a t among o t h e r s you name
P h i l a d e l p h i a a s o n e , a s I t h i n k t h e fefenks o f t h i s s e c t i o n o f
t h e U. S. w o u l d b e p l e a s e d t o h a v e P h i l a d e l p h i a named a s o n e o f
t h e F e d e r a l R e s e r v e C i t i e s , a n d a s we a l l b e l i e v e i t i s t h e
D e p a r t m e n t ’ s d e s i r e t o s e r v e t h e p e o p l e , we w o u l d a s k t h a t y o u
g i v e P h i l a due c o n s i d e r a t i o n .




Yours t r u l y ,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C harles

M. M cC u r d y ,
P r e s id e n t .

j a s

. K. B a r n h a r t .

C

a s h ie r

,

ttty? S u r a t N a t i o n a l l a t t k
BELLEFONTE. PA.
C A P IT A L $ 1 0 0 ,0 0 0 .

S U R P L U S $ 1 2 5 ,0 0 0 ,

Jan . 2, 1914.
Hon. William- 6 . McAdoo,
Secretary of the Treasury,
Washington, D. C.
Sir:-

/\
/O

/

We respectfully urge that one of the Federal Reserve Banks
he located in Philadelphia.
The importance of that city as a hank
center and particularly as a collection center is known to you.
The business of a large and important section cannot be done else­
where without ^ loss and inconvenience to a large number of hanks.
Philadelphia is a natural center for all the region east of the Alle­
ghenies, embracing middle and southern Pennsylvania and adjacent
country, and we hope you wi^L &ive favorable consideration to its
claims.
speqtfully,




V
President. ^

Reproduced from the Unclassified / Declassified Holdings of the National Archives

NO. 10128
m i n e r s

f c f i o t t a l

p a w l

C A P IT A L , S U R P L U S A N D P R O F IT S , $ 5 9 ,0 0 0 .0 0
JOHN R E E D , PBESIDENX.
JOS. T . FLE M IN G , VICE PRESIDENT.
F. W . W A R N E R , CASHIEK.

Deo# 2 4 th g 1913

B e lle v i lle , Pa.

Hon,

If*

(*.

M oM

o o

,

S e c r e ta r y o f th e fr e a s n jy t
W ashington, B* C.

Bear S i r ; Sow th a t th e n m cu rreaoy 1)111 has become a la w t v/e
w ish to s u g g e s t th o mass* o f B s& ladelphia* w hich we t r u s t jtom
w i l l c o n s id e r in yotir d e s ig n a tio n o f F id t r a l Renerr© C i t i e s .
I t i s »e1 n e c e ss a r y to r o o a ll th e many o c c a s io n s on w hich
B L ild d elp h ia n s have ren&ored T a ln a b le s e r r ic o s to o u t Governmeat* Wo h o lie r # t h a t B li la d e l p h ia , aa a g r o a t b u s in e s s c e n te r
and beoatise o f i t s f i a a n o ia l s t r e n g th and i t s r o c o r d , i s e n t i t l e d
to a F ed era l R eserve J*an)r.
Wo t r u s t you w i l l g iv e f h ila d e lp h ia fa v o r a b le c o n sid e r a tio n *




Very t r u l y you rs #

C a sh ie r .

Reproduced from the Unclassified / Declassified Holdings of the National Archives

M. JAC K S O N CRISPIN. P R E S ID E N T
N9

S .C .J A Y N E , C a s m i e r

568

T h e First N ational B a n k
C A P IT A L $ 7 5 ,0 0 0 .

S U R P L U S F U N D $ 1 0 0 ,0 0 0

B E R W I C K , PA.

Dederaber, 2 7 , 1913•

Hon. W. G. MoAdoo,
S e c r e ta r y o f the T rea su ry ,
W ashington, B. C.
S ir ;The board o f D ir e c to r s o f The F i r s t R a tio n a l
Bank o f B erw ick , P e n n * ., unanmoeuly and r e s p e c t f u l l y
r e q u e s t th a t P h ila d e lp h ia he d e sid n a te d as a lo o a t io n f o r a F ed eral H eserve Bank,

£
?7e are more o l o s e l y a ll £ d w ith and much

b e t t e r se r v e d by th a t o i t y than we can be by any
o th e r .




R e s p e c t f u l ly ,

CasMero

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Jfctttxma] |£attk,
BLO O M S BUR G , PA.
A.Z.SCHOCH, PRESPDENT.

PAUL E.WIRT. VICE PRESIDENT.

WM. H.HIDLAY, CASHIER.

SjMBdmber £9th, 1915.

Hon. William G, McAdoo,
Secretary of Treasurer,

^

Washington, D. C.
Dear S lr : Permit us to add our appeal to you for
the designation of P hiladelphia as a fed era l Reserve
Bank under the Hew Currency A ct.
We f u lly b e lie v e that the leading c it y o f
th is great Commonwealth, with i t s large fin a n c ia l and
Commercial in t e r e s t s , deserve, a t the hands’ of your
Commission, recogn ition for the serv ice and convenience
of the very large te r r ito r y which i t serv es.

Very respec^rful^^yours,

sr

A2S/S




President

Reproduced from the Unclassified I Declassified Holdings of the National Archives

C A PITA L $ 6 0 ,0 0 0
C .M .C R E V E L IN G . Pres

S U R P L U S A ND
U N D I V I D E D P R O F IT S $ 1 0 (^ 0 0 0 .0 0

M. M IL L E IS E N , Ca sh ie r

(Lip? fia m iir z 'Naium&l
$hftxm&bxxx$ *

Jan* 5,1914.
To/

The Secretary of the Treasury,
Washington, D. C.
Dear Sir:We beg to go on record as favoring the entablish^
ment of one of the new regional reserve banks in the City
of Philadelphia, and our reason for favoring the same
is on account of the close business relations that exist
between our section of the country and the City of
Philadelphia ; and we feel that for banks particularly
in this region the best service would be given, and hope the
Organization Conmittee may see their way clear to
establish a bank at Philadelphia.

MM-DM.




\'

c < / C a s h i e r .

Reproduced from the Unclassified I Declassified Holdings of the National Archives

No. 8 3 2 9

C.H.MANN ,M .D .,presioent.

Ca p it a l

)

J OHN H A M P T O N ,

7 5 .0 0 0 .0 0

$

.

ISAAC A.SM ITH ,
> v ic e p re s id e n ts
EDWARD B.CO N A R D .)
W.H.KNEEDLER , c a s h i e r ,

H on,

W.

C.

M cAdoo,

S e c re ta ry

o f

T re a s u ry ,

W a s h in g to n ,

D e a r

D.

C.

S ir :
I

P h ila d e lp h ia
e ig h t
and

as

F e d e ra l

w h ic h

beg

one

to

o f

R eserve

becam e

a

c a ll

th e

C itie s

la w

on

p o p u la tio n
w ith

n u m b ers
w ith

th e

a c tu a lly

c o n tig u o u s

u p w ard s

th e

c ity ,

o f

tw o

u n d e r

th e

m illio n

to

is

h ig h ,

m a n u fa c tu re d

In

s m a lle s t

to

p a rts

th e

o f

th e

c ity

th e

The
o f

v o lu m e ,

o v e r

a

c lo s e ly

in

th e

b illio n

tr ib u ta r y

a lm o s t

to

im p e ra tiv e

F d fle ra l

R es erv e

o f

c ity ,

it s




c h o ic e

as

le t

as

p o in t

one

passed

o f

by

to

th e

C o n g ress,

th ir d

w ith in
ly in g

i t

o r

c ity
th e
in

who

in

p o p u la tio n ,

c o rp o ra te

P e n n s y lv a n ia

tra n s a c t

w ith in

th e

c o u n tin g

lim its
and

t h e ir

o f

th e

New

b u s in e s s

c o n tig u o u s

c ity ,

J e rs e y ,
in

and

t e r r it o r y

w h ic h

o f

m a n u fa c tu re s ,

and

e m b ra c in g

fin d in g

t h e ir

th e

a l l

im p o rta n c e

c la s s e d

d e s tin a tio n

of
in

o f

th e

goods,

c ity *

fro m

p r a c t ic a lly

th e
a l l

b a n k in g

b u s in e s s

c o u n try ,
and

th re e

th e

dem and

a

of
fo r

P h ila d e lp h ia

t o t a l

d e p o s its

h u n d re d

C ity

o f

th e

in

banks

is

th e

th ir d

re s o u rc e s

and

tr u s t

in

b e in g

p o in t
w e ll

c o m p a n ie s

m illio n s .

fin a n c ia l

in s titu t io n ,

P h ila d e lp h ia ,
th e

b a n k in g

and

e s ta b lis h m e n t

whose
o f

one

o f

h u n d re d ^ w h ic h

in te r e s ts

th is

c ity

m ake

an

as

one

o f

th e

you

th e

c la im s

C itie s ,

I
th a t

C u rre n c y

w h ic h

tw e n ty -th ir d .

p ro d u c ts

re p re s e n t
th e

new

fa c ts

w o rld .

d o lla r s ,

I
& re

m a tte r

e n tir e

a p p ro a c h in g

d e s ig n a te d

to

p ro p e r.

g re a te s t,

c iv iliz e d

som e

be

s o u ls ,

w ith in t

tr ib u ta r y

tc

c it ie s

th e

re s id e n t

is

it s

is

a tte n tio n

th e

D ecem ber

t e r r it o r y ,

liv e

a n d

yo u r

lo g ic a l

P h ila d e lp h ia
th a t
and

2 , 1914.

Ja n u a ry

w o u ld ,

a .n d

re q u e s t

one

of

th e re fo re ,

th e s e

you

to

r e s p e c tfu lly

use

R eserve

e v e ry

e f fo r t

u rg e
you

upon
can

to

th e

end

of

C itie s .

R e s p e c tfu lly

y o u rs ,

Form

L _

C a s h ie r,
B rid g e p o rt

N a tio n a l

B ank,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

No. 8 3 2 9

OF B R ID G E P O R T ,P A .

C .H .M A N N ,M .D ., pr e s (dJPJt .
JOH N H A M P T O N ,

C

££•) '

a p i t a l

ISAAC A.SM ITH ,
> v ic e p re s id e n ts .
EDWARD B.CONAR D, j
W.H.KN EEDLER , c a s h i e r ,

75.0 0 0 . 0 0

$

0r

® r i f r j j e p

t , | l c t .

8, 1914.

J a n u a ry

!
C o m n d tte e

fo r

O r g a n iz a tio n ,

S e c re ta ry

f:>

of

T re a s u ry ,

W a s h in g to n ,

D .

C.

G e n tle m e n :
beg
to

P h ila d e lp h ia n s

th e

e ig h t

F e d e ra l

and

w h ic h

becam e

to

one

c a ll

of

R e s erv e
a

la w

on

a c tu a lly

th e

c o n tig u o u s

tw o

m illio n s

w ith in

i t

c r

h ig h .

It s

s m a lle s t
th e

th e

c o n tig u o u s

th e

b illio n

th e

th e

o f

th re e
I

im p e ra tiv e

dem and

th e

w h ic h

C u rre n c y

A ct

as

p o in t
one

passed

o f

by

C o n g ress,

th ir d
th e

c ity

in

t h e ir

p o p u la tio n ,

c o rp o ra te

o f

c o u n tin g

th e

and

New

J e rs e y ,

in

and

w ith

b u s in e s s

t e r r it o r y

lim its

w h ic h

is

c ity ,
n u m b ers

th e

c ity ,

tr ib u ta r y

th e

c la s s e s

of

goods

d e s tin a tio n

in

p r a c t ic a lly

t h e ir

o f

th e

and

o f

liv e

c ity

c ity

fro m

w ith

upw ard s

th e

e m b ra c in g

fin d in g

im p o rta n c e

to

m a n u fa c tu re s ,
a l l

th a t
and

p ro p e r.

is

th e
a l l

p a rts

b u s in e s s

c o u n try ,

and

th e

h u n d re d

fo r

o f
th e

o f

to t a l

d e p o s its

in

P h ila d e lp h ia
b a n k in g
banks

is

th e

re s o u rc e s

and

tr u s t

th ir d in

b e in g

p o in t

w e ll

c o m p a n ie s

o v e r

of
a

c lo s e ly

m illio n s .

re p re s e n t
C ity

th e

a

fin a n c ia l

P h ila d e lp h ia
e s ta b lis h m e n t

in s titu t io n ,
and
o f

w hose
th is

one

o f

in te r e s ts
c ity

as

h u n d r e * w h ic h
m ake

one

an

a re

a lm o s t

o f

th e

F e d e ra l

you

th e

c la im s

C itie s .
I




b a n k in g

e n tir e

to

c ity

c h o ic e

and

new

fa c ts

d e s ig n a te d

w o rld .

tr ib u ta r y

th a t

of

p ro d u c ts

g re a te s t

d o lla r s

a p p ro a c h in g

R eserve

m a tte r

som e
be

P e n n s y lv a n ia

w ith in

c iv iliz e d

in

in

tra n s a c t

The
v o lu m e

th e

who

m a n u fa c tu re d

to

ly in g

th e

to
to

tw e n ty -th ir d .

w ith in

s o u ls ,

In

o f

is

c itie s

u n le r

D ecem ber

re s id e n t

t e r r it o r y

a tte n tio n

lo g ic a l

C itie s

P h ila d e lp h ia
p o p u la tio n

yo u r

th e

as

w o u ld ,

and

re q u e s t

one

o f

th e s e

you

th e re fo re ,
to

use

R eserve

r e s p e c tfu lly

e v e ry

e f f o r t

you

u rg e
can

upon
to

th e

end

o f

o f

it s

C itie s ,

R e s p e c tfu lly

C a s h ie r.
B rid g e p o rt

N a tio n a l

Bank

Reproduced from the Unclassified / Declassified Holdings of the National Archives

D r . A, V. W A L T E R S , P r e s i d e :

W . M. Z O O K , V

S H j *

i c e -p r e s i d e n t

S r n t m t a t n n m

J A C O B H . W O L F , C A SH IE R

N a t i o n a l

tm vU om vi,

S

a

n

12-29-13

H o n .TtU.G .Me Ado o* /
See.of ^he "?reas*
Washington,D. 0 .
Dear Sir




Since the FAderal Reserve Act,which has
now become a l<*w,suthorizes that Federal
Reserve Banks shall be organized in at leust
eight,nor more than twelve cities in this
Country,and as Philadelphia has always been
one of the conservative^cities of the nation,
we feel thut Philadelphia would be entitled to
one of ?he Federal Reserve Banks.
Yours truly,
Brownstown national Bank.

k

reduced from tl^e Unclassified / Declassified Holdings of the Natjona^rch^ves"

C A P I T A L , $ 5 0 ,0 0 0

3T66

S U I

U S , $ 5 0 ,0 0 0

THE

B R Y N

M A W R

N A T I O N A L

B A N K
6 0 -8 4 7

JM S 8E

B . M A T L A C i v , P H U s rP itN X

W , H , K A M 8 K Y , V io k -P rk s id e h t
J. W . M A TLA GE,

C a s h ie k




Br^

L h

tM a w r

,P

a

.,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

8EN J. J. TAYLOR, PRESIDENT

THO&. BCOTT,^SaT~.fiASHlER.

SCOTT,

S m r m e r a N a t io n a l S a n k o f S u r k a (E m m tg

^

1

'- - 'r

\
—

-^

4

7 ^

<ZL-

dU,
& s k <3C % /A ^ y i2^.
A tr z z y ' £ ^ £ * 2 ^ s/&

£

0

^

frtZh&.




t£<z^& 6y

< a(s^usp

y /v

Reproduced from the Unclassified / Declassified Holdings of the National Archives

N 9

© 6 ^ .

CAPITAL

EDW. CLARKSON, PRESIDENT

SURPLUS ^

3 5 0 , 0 0 0 ,0 0

W. H. BRONSON, ASS’ T CASHIER
F. G. WINTER, AUDITOR

E. W. M ILLS, VICE PRESIDENT
R. A. JADW1N, 2ND VICE PREST & CASHIER

E. B. MILLS, TELLER

Ca r b o n d a l e , Pa .

Deo* 27, 1915.

;ary o f A gricu ltu re,
Washington, D. C.
Pear S i r ; \?e ->eg to b r in g to your a t t e n t io n th e str o n g and
n a tu r a l c la im s o f P h ila d e lp h ia f o r one o f tho f e d e r a l R eserve
Banks about t o be organized*
For many y e a r 8 th e J*Mladelph5.a Banks hare done a
v e r y la r g e b u s in e s s , p a r t i c u la r l y w ith th e Country banks in
th e S ta t e s o f P e n n sy lv a n ia i Few York* ITew J e r s e y and Delaware*
and t h e i r f a c i l i t i e s have been so e x c e ll e n t and t h e i r term s
so r e a so n a b le th a t th e y have been p a r t ic u la r ly u s e f u l t o the
Country banks o f t h e S t a t e s m entioned#
We tr n h e sita t i n g l y e x p r e s s our p r e fe r e n c e fo r
£h itaftelp liiik a s a lo c a t io n f o r orte o f th e new R eserve Banks.,
and b e lie v e t h a t hundreds o f o th e r Country banks in t h i s
s e c t i o n w i l l a g ree w ith us#




f

Tours v e r y tr u ly .
v. f

/•

Cashier#

V hmma \
Ir'
1914

:wr<? 6 6 4 .

EDW. CLARKSON, PRESIDENT

CAPITAL |

l ! 0 , 0 0 0 ,0 0

SURPLUS ^

3 5 0 , 0 0 0 ,0 0

R. A. JAD W IN , 2ND VICE PREST & CASHIER

W . H. B R O N S O N . A S S ’ T CASH IER
F. G . W I N T E R , A U D I T O R

S. W. M ILLS, VICE PRESIDENT

E. B . M I L L S , T e l l e r

Ca r b o n d a l e , P a .

Dee. '27, 1913

We beg to bring to your attention the strong and
natural claino of EhiladelpKla for one of the Federal Reserve

Banks about to be organised*
?or many ye are the Philadelphia brinks have done a
very large business* p a r tio u la rly with the Country banks in
the States o f Pennsylvania^ ITew York, ITew Jersey and Delaware,
and £hetr facilities have been so excellent and their terns
go reasonable that they liave bee 21 particularly useful to the
Country banks o T the States mentioned.
We unhesitat tngly esqnress onr preference for
I’
hlladelpliia as a location for one of the new He serve Banks,
and believe that hundreds of other Country banks in this
section will agree with us#




h

. ..

JIUI ■ ll l lll IJII1IIIMNM .I l.l.U II.U11. Ill im ll

I

.

I -- - .

. .

Reproduced from the Unclassified I Declassified Holdings of the National Archives

December 24th, 1913#
Hon. W. G. MoAdoo *
Secretary of the Treasury,
Washington, D. C»
Dear Sir:It would greatly add to the convenience
of the large banking interests in this locality if
Philadelphia were made a Federal Reserve City, and
we trust that you will consider this claim carefully*
Any consideration given to our wishes will
he appreciated hy -




Yery respectfully yours,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

T he

L e h ig h

N a tio n a l

Bank

O F C A T A S A U Q U A , PA.
J A M E S C. B E I T E L , P r e s id e n t.
R U F U S M . W I N T , V ic e P r e s id e n t.

C

apital

$125,000,

F . B . M A U S E R , V ic e P r e s id e n t.
J. F . M O Y E R , C a s h ie r.

CATASAUQUA, PA.,

S e c r e ta r y o f th e T reasu ry,
W ashington, D. 0.
Honored S i r : We would most u r g e n tly r e q u e st you to uee
your in f lu e n c e in h avin g th e C ity o f P h ila d e lp h ia d e sig n a te d

as one o f th e F ed era l Re serv e C i t i e s .

We t r u s t you w i l l

gee the im portance in h a v in g t h i s g r e a t b u s in e s s c e n te r
made one o f the r e s e r v e c i t i e s .




Very r e s p e c t f u l l y

C ashier*

Reproduced from the Unclassified / Declassified Holdings of the National Archives

CA VAL., - - - $200,000.00
SUWLUS & PROFITS, $200,000.00

T . M . N E L S O N , P R E S ID E N T
D R . JR. W . R A M S E Y , V IC E P
DENT
A . B U C H A N A N , 2 n d V IC E P k - ,5 I D E N T
F R A N K A . Z IM M E R M A N . S E C Y AND T R E A S.
W I L L I A M A L E X A N D E R , T R U S T O F F IC E R
J. A . S T R I T E , S O L IC IT O R

f ^ H f^ M B E R S B U R G

a
4

^

\a m
%

COMPANY

C H A M B B R S B U R G , PA.

/
< /

j

TRUST

Charobers'b'urg, Pa., Deo# 27" 1913,

/

Hon. William G* McAdoo,
Secretary of the Treasury,

: r "r'fi \ r

b

Washington, D. C*,
Dear Sir:We wish to join the “
b anks of Pennsylvania in ex­
pressing our disapproval of the evident intention to over­
look Philadelphia in locating the Federal Reserve B a n k s , as
provided for in the new Federal Reserve Act*
A very large percentage of the banking throughout
this vicinity is transacted through Philadelphia*

Most of

>

z
GO!

our farm produce is shipped to Philadelphia, and. the ship­
pers receive checks on that city.

If these checks were col­

£

m
73
m
D

lected through lew York much time would be lost, and some
one would be obliged to handle the items once more than
would be necessary in case they could be sent to Philadelphia
for collection*
Our mail and express service is much better to
and from Philadelphia than to and from lew York*

Our mer­

chants b u y nearly all goods in Philadelphia, and for many
other reasons of which you no doubt have been advised, we
strongly favor a Federal Reserve Bank in Philadelphia.
With the information we now have at hand we
would hesitate to become a member of a Reserve Bank unless




Reproduced from the Unclassified / Declassified Holdings of the National Archives

Hon. ¥• G. McA,

7F 2

it were located in Philadelphia#




Yours very tr-oly,
CHMBKHSBURG- TRUST COMPAHY,
igJLA
Treasurer,

r

■
Reproduced from the Unclassified / Declassified Holdings of the National Archives




co^V-

Reproduced from the Unclassified / Declassified Holdings of the National Archives




Reproduced from the Unclassified I Declassified Holdings of the National Archives

JOHN J. B U CK LEY, p r

e s i

d e n t

EDWARD C. BURTON, v i c e

.

D, E.CASEY,

p re s id e n t.

CAPITAL $ 100.000

& P E N (^SYLVAN I a




CHESTER,PA.

Lee eraser
.

Hoaoirable

fm .

S e c re ta ry

o f

W a s h in g to n ,

H o n o ra b le

Q .

th o
B*

and

fe

.,

A doo,

M e

T re a s u ry ,

C.

D ear

B ir i­

s in c e re ly

to

lo c a te

a

We

beg

a s s u re

to

.

\X w

F e d e ra l

tr u s t

R es erv e

you

v e ry

m uch

a p p re c ia te d

th is

C ity

and

th a t

by

you
B ank

suck

th e

a

m ay
in

fin d
th e

C ity

d e c is io n

b a n k in g

i t

p o s s ib le
o f

w o u ld

in te r e s ts

P h ila d e lp h ia .
be

in

C o u n ty .

V e ry

r e s p e c tfu lly /

THE

P E N N S Y L V A N IA

N A T IO N A L

BANK,

P re s id e n t.

c a s h ie r .

f ""11

-------------------- :--------------------------------------- —

-

Reproduced from the Unclassified / Declassified Holdings of the National Archives

CAMBRIDGE TRUST COMPANY
CHESTER-PENNSYIVANIA

G A R N E T T . P E N D L E T O N , P r e s id e n I
IR W I N D .W O O D ,7 s ? V ic e P r e s i c t e n t
E L W O O D T Y S O N , 2 n r ) V ic e P r e s i d e n t
W I L L I A M A . D Y E R / /k > a s u r v r
W I L L I A M S .B L A K E L E Y , J R A s s tJ itte Officer
D . R. F A I T H , A s s t. T r e a s u re r
J O S E P H H . H IN K S O N , S o lic i to r

At the Co*»itt## for Or^aniaation under th# recently
eo*eted currency law, ar#

*0011

to d##ignat# th# 7#deral Reserve

Bank#, we respectfully r#eo«B#ad to your eoa#id#ration the City of
Philadelpitl# a# the location

on# of th# R##ery# Bank*.

We make

thi# requ##t not only b#c#*i## of our local and bu*ine#e attachment
to th# City of Philadelphia, but because it it on# of the greatest
coll#ction o#nter# in thl# C o u n t r y ; has a gr#at#r number of out of
town bank account# than

may oth#r

City #av# B#w York and poseibly

Chicago; and #tand# third in total Bank R##ourc## and in amount of
d i p M i t # , it# Bank B##our### rcaching On# billion dollar#.

Phila­

delphia ha# alway# b##n regarded a# on# of th# *o#t conservative and
conetructive




Cities #f thi# Bation*
Respectfully your#,
C««briige Trust Company.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Washington, B. C

We hope to accept the p ro v isio n s of the Currency B i l l ,
now become a law and in that lin e would ask your favoravle con sid er­
ation of the claims of the City of P h ilad elp h ia fo r s e le c tio n as a
reserve City*
Chester w ith s ix Banking I n s titu tio n s and busin ess running
up in the M illion s has c lo se fin a n c ia l r e la tio n s with that C ity, a l ­
so many other C itie s and Towns in our State are tribu tary to P h ila ­
delphia, whose Bank and Trust Company resources are between Seven
and S igh t Hundred M illio n s o f D o lla rs.
We f e e l that our busin ess under the New Act can be carried
on more s a t is f a c t o r ily and p r o fita b ly , to your Department and our*
s e lv e s , w ith a reserve C ity in an e a s ily a c c e ss ib le lo c a lit y

with

intim ate r e la tio n s , than with a d ista n t p oin t where new connections
would have to be e sta b lish e d .




Trusting you w ill g iv e the matter favorable consideration#
Tery r e s p e c tfu lly yours,
(

2

^

Cashier

_

ir u

--------------- :------------------------------:------------------------- ----------------------------—
Reproduced from the Unclassified I Declassified Holdings of the National Archives

MAHLON

B.KENT,

CYRUS

G.BARR,

ROY H.PASSMORE,

Committee for Organization,
Under Hew Currency Act,
c/0 Secretary pf the Treasury.
Washington D C.
Gentlemen,
We desire to call your attention to the fact
that Philadelphia is one of the greatest Collection ^centers in the
in the country and in consideration of this faft believe it will
be for the best interest of all Banking Institutions of this
section of the United States to have located in that 0ity one of
the Federal Reserve Banks and we are sure we voice the sentiment of
all Banks tributary to that City.
Hoping this will receive your favorable consideration, We are




Very truly yours,
The Christiana National Bank

P ""111

—

.

Reproduced from the Unclassified / Declassified Holdings of the National Archives




.y/a/y-rw
S/Cr,
Cashier

is O /tty

VicePresident

President

* ////.

December 27th,1913.
S^oretary ©f the Treasury*
Washington, D. G.
Dear SirtOur bank is located within fifty miles
of Philadelphia and we feel it would be little
short of a calamity not to seleot Philadelphia as a
location for one of the Regional Re»«rve Banks.
Almost all items we receive outside of our own
neighbors are on Philadelphia and a glance at
her resources as a banking center is convincing
evidence of the necessity for its favorable
consideration. We therefore* urge upon you
your favorable consideration.

A

,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

VicePresident

VP
President




/ / / / /

Vmombex 87th ,1913.
Secretary of Agriculture,
Washington, D. C.
Dear SirsOur bank is located within fifty miles
of Philadelphia and we feel it would be little
short of a calamity not to select Philadelphia
as a location for one of the Regional Reserve
Banks* Almost all items we receive outside of
our own neighbors are on Philadelphia and a
glance at her resources as a banking center
is convincing evidence of the neoessity for its
favorable consideration. We therefore, urge
upon you your favorable consideration*
Very truly yours,

"\

Reproduced from the Unclassified I Declassified Holdings of the National Archives

CiiatcsMilr. },Tct.
P . W O R T H , P r e s 't .

M .W .P O W N A L L , Ca s h i e r .

S . H A R L A N , Vi c e P k e s t .

E . H . D O A N , A s s r. C a s h / c r .

Eon. W illiaju §♦ H oM oo,

of

Sreaaury,

#sa&i»gtc»a»

0#

Itear S i r : »• ♦ f l j r a w t l y a * ! * * t l o n
aft ©me o f th e

t t M i t t B*nke*

oomraeroial m»I

o f B iila a © l$ ii&

In view o f it B enormous

iir t« r * 0 t« and i t * la r g e laank

t r u s t cQflg*H(7

&&& tb* G ity o f P h ila d e l­

p h ia fCLl^

o&ft o f % e f e d e r a l B eserve

C it ie s *
Towr

t o t k ie a a t t e r ’w i l l

b e nraoh a p p r tr tita A




#*£#% *$♦*
Visry t**|*

OasJiieT.

F orm

~ £ rb

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Hervry J .B r a r is o n ,




:No.

575.

Secretary of the Treasury,
Washington* I). C,
Honorable Sir:Having two active B©serve Banks in Phila­
delphia at present, we would request your consideration
of the City of Philadelphia for a Regional Reserve Bank.
Such a Bank there would no doubt be of great
advantage to us and the many Banks in this Community,
We are 4° miles from Philadelphia and visit
our Reserve Banks as much as twice and three times a
week.
Hoping you will give the matter your careful
consideration, we are
Tours very truly,

PW R U

■

-

— ■

Reproduced from the Unclassified I Declassified Holdings of the National Archives

A D , F E T T E R O L F , p r e s id e n t

M

B . L iN D E R M A N ,

v ic e

-

W. D , R E N N I N G E R , C a s h i e r

p r e s id e n t

COLLEGEVILLE NATIONAL BANK
C OJLLrE G E V I L L E , V a .
Deo. 2 9 , 1913
//
Committos for Organizing Regional Benks
And Selecting Reserve Cities,

r

Washington, D. 0.

v-

Gentlemen:May we be pfn&mitted to call your attention to
to the importance'of selecting the City of Philadelphia as
one of the places for a regional Bank under the new Currency
Law.
Our own, as well as all of the Banks of eastern
Pennsylvania hatre long conducted our business through
Philadelphia.
Again,it is not necessary to remind you of the position
of Philadelphia as a Banking centre, as the fact is too well
known to ycur honorable committee.




Yours* truly,
Ccllegeville National Bank
President.

j

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Established 1883
J. ELL WOOD LEE, p r e s id e n t .
J .W . JOHNSON, VICE PRESIDENT.
ALBERT A. GARTH WAITE, treasurer
SAMUEL WRIGHT, s ec re tar y .

.

M ,0’B. HALLOWELL, ass 't secretary.
A N T I- S k io

t

^

L

E

E

Le e
Puncture Proof

No
Mo r e

T ir e s

fU N C T U R E S

S m il e s

General Rubier Sundries

i

P r e s id e n t s O f f ic e

a t

M i l e s ”

x

January 13, 1914
Hon. William McAdoo,
Secretary of the U. S. Treasury,
Washington, I). C.
Ify dear Sir:

•,

F o n m

We take the liberty of
ffihn iy\
bn to a
matter of much interest to the ‘
business’people of Philadelphia and
vicinity, and that is, the selection of that ci+} to have one of the
Regional Banks.
Phil ad.e lph i a is not only the second city in the Union m
size, but a
l
a
l
importance, and she leads in the manufac­
turing line. She has figured in the financial history of her country
from the start in a liberal and at the same time creditable way, and
surely she is entitled to consideration in the selection of J'ederal
Reserve Cities.
If it is the desire of the Administration to divorce
banking credit from the so-called "Money T r u s t , ” it is hard to under­
stand how that Administration can possibly overlook the claims of
Philadelphia in her'desire to have a strong Regional Bank centred there,
so that she shall be placed in an independent position and enabled not
only to serve her enormous home demand, but likewise to serve the
thickly populated country districts immediately adjacent.
We trust that you will see the wisdom of not passing
Philadelphia by in the selection of federal Reserve Cities, as she is
justly entitled to such recognition from every standpoint.
Ve ry t r uly yours,
Lee Tire

Rubber Company
President.

W.




r * * -------------- :------------------------------------------------------------- -----—
Reproduced from the Unclassified I Declassified Holdings of the National Archives

■5*3r

CAPITAL, $ 1 5 0 ,0 0 0 .

ELBRIDGE McFARLAND, preside'
JOHN PUGH, VICE PRE8IDENT.

W. D. ZIMMERMAN,

SURPLUS, $1 0 0 ,0 0 0 .

cashier.

T h e

F ir s t

N a t io n a l B a n k
„

December 26,1913

C O N S H O H O C K E N . P a . ____ _________________ __________1 9 1

Hon.William G.McAdoo,
Secretary of the Treasury,
Washington, D.C.

Sir: Being in thorough accord with the sentiment that
obviously prevails throughout this state,and believing
that the placing of a Federal Reserve Bank in the city
of Philadelphia is warranted by every consideration of
fitness, justice and good service, we wish earnestly to
invoke favorable action on the part of your

Organiza­

tion Committee When the time for such action shall have
arrived.




Respectfully,

Cashier.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

4-4.79.

J . J . DESMOND, Pr e s t .
JAM ES L.W EST/ V.PR‘ks.T,
G. H. BAR LOW, Ca s h i 'e r .
H.W.PARKER, A.Ca s h .

W

f c r f . f a . Dac> 2 6 1 1913

Hon. Wm. 0 . llcAdoo,
V

S e c r e ta r y o f th e T reasu ry,
W ashington, B .C .
Bear S i r : We beg t o add our recom m endation t o th e c la im s ^ x
cj- i
o f P h ila d e lp h ia f o r th e l o c a t io n o f a F ed era l R eserve Bank
i n s a id c i t y .




Yours v ery t r u l y ,

F"IJI

.

...........-

Reproduced from the Unclassified / Declassified Holdings of the National Archives

PRESIDENT
CH AS. F. BECK

CASHIER
E. D. MEIXELL

VICE-PRESIDENT
W. P. H E FFN E R

OF C R E SS O N A

/
Hon. William G. Mo Adoo,

.
'V

Secretary of the Treasury,
Washington,

D. 0.

\
Z r^

%

Dear Sir!
In the' designation of

■

M

Federal Reserve Cities
/
\.
,* 0 /
this bank, in common with, we believe, all the banks, OV'
in this section, is

especially desirous that Philadel­

phia shall be named as one.
The familiarity of Philadelphia banks with the
conditions, needs and character of the management of the
very large number of banks in Pennsylvania, New Jersey,
Delaware, Maryland and other neighboring states, would
seem to make highly desirable the designation of Phila­
delphia.
We believe that both our own interests and those
of the general public would be highly profited by such
designation.




.

Yours very truly,

C a s h i e r .

y

Reproduced from the Unclassified / Declassified Holdings of the National Archives

1 2 /2 7 /1 3

Honorable Wm. G. McAdoo,
Secretary of the Treasury,
Washington, D. C*
Dear Sir,-

vYou are about to designate regional banks under

the new Banking Law,

I hope you will see your way clear to

designate Philadelphia as one of these points.

The bulk

of our business is with Philadelphia banks, and I am
quite sure that most of the banks in this region have more
to do in a banking way with Philadelphia than any other
point.

Very truly

a h /r




/

F"""Reproduced from the Unclassified / Declassified Holdings of the National Archives

Washington* D, C.
Dear Sirs

/
Wo

of one of

to go on record as favoring the establishment
mm rational reserve baaks in tho Oity of Phil*-

dolphla«#a&d our reason for favoring ths same is on account
of the oloaa business relations that exist between oar section
of tha country and tha City of Philadelphia, and wo £eol that for
barfics particularly in this region tho host service would bo givon
and hope tha Organisation Coanittoe nay see tholr way d e a r to es­
tablish a batfc at Philadelphia.




—

——
^^^^^^rnK^i^mmmmmmmm-

wmu[^..yji.jj.w'j1.,-.'.j.i...^'"■ ytfr-v-11- .: •.v,^ - > - Jr:- •■.---M;.-

Reproduced from the Unclassified I Declassified Holdings of the National Archives

FIHST KATIOHAI BA.UK
DA.HVIL1E, PA.

y

D anville* Penna*, December 24th* 1913*
Hon. William G. McAdoo,
Secretary o f the Treasury*
Washington, D. G*
Dear Sir?**
Speaking fo r the s ix score or more o f shareholders o f t h is
bank, and for b u sin ess men w ith whom I have talked in t h is community,
I take the lib e r t y o f addressing you in b e h a lf o f the lo c a tio n in
P hiladelphia o f one o f the reg io n a l banks authorized by the Currency
A ct.

P hilad elp h ia i s the commercial and fin a n c ia l m etropolis o f t h is

great Commonwealth, o f Delaware and a large p o rtio n o f Uew Jersey, as
w e ll as the reserve bank cen ter fo r hundreds o f banks ou tsid e o f the
te r r ito r y named.
Pennsylvania alone represen ts say o n e-tw elfth o f the popu­
la tio n of the S ta te s o f the Union.

A S ta te having w ith in it * s borders

a large percentage of the in v ested c a p ita l o f the e n tir e country; with
in d u s tr ia ls and e n terp rises g iv in g employment to men beyon& that o f any
other S ta te and more than a goodly number o f S ta te s combined#

I t ’s

N ational Banks, I b e lie v e , outnumber those o f any other S ta te .

Their

natural center i s P h ila d elp h ia , which c i t y has been the s o c ia l, f i n ­
a n c ia l and commercial m etropolis o f the greater p ortion o f the S tate
sin ce before the memory o f any one now liv in g .

To change th ese re­

la tio n s would be a shock to the fe e lin g s o f the great m ajority o f
shareholders o f the n a tio n a l banks o f our S ta te , as w e ll as to i t ' s
b u sin ess men.
P hiladelphia stands o f f i c i a l l y (by the census returns) as
the th ird c i t y of the United S ta te s , but w ith i t Ts la rg e suburban
population ou tsid e the c i t y lim it s (n otab ly Camden, Iff. J . )

is a

c lo s e second, and as regards s o lid su b sta n tia l w ealth, i s e n title d to



a very high grade.

I t has, p rop o rtio n a tely , more American c it iz e n s

r

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Hon.l.S.McAi

D a n v ille , Penna. , December 24th, 1910.

s h * j| t iFs.
HI r?
O
o ::

rq

than^a||y ot^er oity of our country, and is aptly termed

The American.

JT*

City**Jl

It?’
s banks and trust companies are eminently of the substantial

L ,

and 3<S c^serv%tive kind; old, rich and well tried through a series of
genefslionsil has, I believe, by far a smaller percentage of persons en­
gaged in the business of promoting and inviting investments in doubt-P « 1

o °

Sentimentally - It is the city of the Nation*s birth, with
it’
s Carpenter's Hall, i t ’
s Independence Hall, i t ’
s Liberty Bell;
was the home of Eobert Morris, Nicholas Biddle and others who in a
large degree financed our infant country during the Revolutionary War,
as well as of J* Cooke and others of Philadelphia who were prominent
in the same way during our Civil War, but you know all this, and I am
perhaps too lengthy, but will only add that if all the business intterests of this Commonwealth could be heard, they would cry out TTDo
not leave out Philadelphia”*




VS*L-tla

d(?oa# y ® w

y

o-araal

o f f JLojL» 3 .1 y |

Yours truly,

President*

3E Cfctn,

r ,l,L-

------------:------------------------------ .
Reproduced from the Unclassified I Declassified Holdings of the National Archives

waA/uets

301111 > 19 13

Mr* Vhu McAdoo,
Sec*y o f th e T r e a su r y ,

Ita M sg to n , B. C.
ft»«r S i r s -

^
/■
"'J
P erm it me to u rge in th e s t r o n g e s t aw^iner p g a s l ^ , th e

lo c a t io n o f one o f t l u r f t t t e r a l K e w v e Banks in th e C ity o f
I h il& d e lp h ia . As a c o l l e c t i n g c a n te r i t h a s few e q u a ls , and
it * # t a t ©f tow n bank a c e # u n ts can on ly be e x c e ll e d by two
C it ie s *

I h i l e in r e s e r v e s and d e p o s it s i t i s o n ly e x c e ll e d

by Mew York C ity and C h icago.

Surrounded by C i t i e s and Towns

o f la r g e p o p u la tio n and v a s t in d u s t r ia l p la n ts h a n d lin g m i ll io n s
o f money and em ploying an army o f w o rk ers, a s w e ll a s a
la r g e and p rosp #rou s a g r ic u l t u r a l d i s t r i c t , t h i s C ity th a t
h a s p la y e d so w o n d erfu l a p a rt in th e M s t o r y o f our Country
sh ou ld c e r t a i n ly be honored by one o f our new F ed era l R eserve
Bftdks*




R e s p e c t f u lly y o u r s ,

P r e s id e n t .

Reproduced from the Unclassified / Declassified Holdings of the National Archives

M . G. H E S S ,
Pr e s id e n t .

A. W. M A R B U R G E R ,
V ic e

T h e

D e n v e r

N a t i o n a l

B a n k

Pr e s id e n t .

A L V IN W. M E N T Z E R ,

Cashier.




D e n v e r , P a.

To tho Secretary of the treasury,
Secretary of Agriculture,
Ccrnptroiler of the Currency,
Gentlemen:~
Permit us to impress en your rainds the
importance of haring a Regional Renerve Bank lo­
cated in^Phi^g^i^ghia, Our institution with Resources
of ©Ter $ 600,000, has “
been chiefly clearing through
Philadelphia and Hew York.

The clearing in Philadelphia

amounting to about 80 percent of our total clearings.
This point alone deraenstrates the iiap©rtance ofAa reserve
center for our institution and customers. To he tied
on to Hew York ©r some ©ther city will not only be very
inconvenient tp us, but also of a great disadvantage.

le trust and hope that you will give Philadelphia
a favorable

consideration,

we renain,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

N O

23 97

THE D I M - S i y R G NATIONAL BANK

?l l 9 ^ u r c 5;p a

Dillsburg, Pa. December 29, 1913.

Hon* Secretary of the Treasury,
Washington,
3 )e (B i3 ^ /S ir : -

i

'

/'

a "

D. C.

I herewith beg to write you in behalf of Philadephia,

as a suitalle and convenient city for a .Regional Reserve Bank, our
banking relations extending over a period of 40 years, with thiscitjleads us to believe that the very large banking interests of this
seojion of the country will be served best if Philadelphia is thus
designated, we shall appreciate your selection as above,




x

H

e

s p

e

c

t f u

l l y

y

o

u

r * .

s h ie r .

Reproduced from the Unclassified I Declassified Holdings of the National Archives

r£ v m s u x %
IffU

R

I3p d

Dillslturg

g ep a rtra m t

T EL E G R A M

Pa Deo 3? 1913

Seoty of tbe Treasury
Washn DO
In selecting looation for federal reserve bank we asked
tkat you uoiisider Philadephia




Farmers and Merchants Bank
940am

s

Reproduced from the Unclassified I Declassified Holdings of the National Archives

PRESIDENT

D R . J. M . GROSS

VICE-PRESIDENTS

CASHIER

H . P. JULIUS
M . L. S M IT H
C . D . HOFFM AN

R . O. I.AUER

December 37th. 1913
iiittee for Organizing Regional Banks
and Selecting the Reserve Cities.
Washington, D. C.
Gentlemen:
We, the Dover National Bank at Dover, Pa. wish to appeal
to you to select the City of Philadelphia as one of the Reserve
cities.

Our bank, since its opening March 23nd, 1909, has done

the major part of its business through our Philadelphia correspondent.
We had a New York correspondent but quit that as Philadel­
phia gave us better and quicker service, hence our appeal.




Very truly,

Cashier

Reproduced from the Unclassified I Declassified Holdings of the National Archives

.T. H. CLTMANS. President

C i t i z e n s

.1- M. HAZLETT, Cashier

.1. F. WALKER, Vice-President

B a n k

o f

D r y

R

u n

-+kcU A .

a *

~ z J L ~ <£Zf -

( g J U t.




11 -

3 . /< } /< /.




Th e Duncannon National B ank .
GEORGE

P E N N E L L ,Pre sid ent.

p

. F D U N C A N , Cashier.

DUNCANNON, PA .

DEC 2 7 1913

&

4

(%

jL

ANSW ERED
c
—f

_

i s m
---------

Reproduced from the Unclassified I Declassified Holdings of the National Archives

NO. 4 5 0 .

4f\ixst

^frnttk

Capital %%&ttiXtXL
S j' D
,

S T E R K 3 E R E . PRES.

■'

^ n tjfln s
J . D . R E E S E R , V IC E P R E S .

M . D , E W A R T S , C a s h ie W ”

U>

Dushore,Pennfa. ,12/29/113 .
Secretar*wfc^^the Treasury,
Washington,

D*C.

S ir :

We beg to recommend Philadelphia as a Reserve City and ask that a
Federal Reserve Bank he established there.
A major portion of our business is transacted through the Philadelphia
Banks.
Most of our reserve

fund is deposited with the Philadlephia Banks.

Philadelphia is centrally located and financially strong.
Thanking you for considering our recommendation,we are,




Respectfully yours,
he First NatytP^al^ank of Dushore,

L a .

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Committee f o r O rg a n iz a tio n ,
F ed eral Reserve Banka,
Washington, D. C.
Dear 3 i r : We w ish to f i l e

our request that your board approve

the C ity o f P h ila d e lp h ia , Pa. as one of the C it ie s in which
we would urge you to e s t a b lis h a f e d e r a l Reserve Bank*




Secy, k Treas.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

IT . L . F L U C K , P r e s i d e n t




C A P IT A L

S T O C K

fa

$

E ,. E . E R B , C a s h i e r

50 , 000 .

Q lstL /t'*-

y

~px

ANSW ERED
— ’’ 7
k° M

1914

^ IA

a a

.

-A & ^

^

C -|

^U _»,

p * - tA u — —

a /x

_______

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Dear Sir,
I write on behalf of The Easton Trust Company to urge that
if it is possible, after due consideration of all interests, to es­
tablish a Federal Reserve Bank in Philadelphia, we will be very much
gratified*
Our relations to the Banking Institutions in Philadelphia
are very close and it will be a very great convenience to this Insti­
tution to have such a Reserve Bank established near us* Independent
of that, Philadelphia being a great commerical center as it seems to
me, is entitled to have recognition of that fact by the establishment
of this Bank*
I trust therefore, you ?/ill be able to coniply with the
requests of the Banking Communities in this region in establishing
the Bank in Philadelphia*
Yours very truly,
'c \ i O

p
^

0

; C . _ .....

President,
Horn. William G-. McAdoo,




Secretary of the Treasury,
Washington, D, C*

Reproduced from the Unclassified / Declassified Holdings of the National Archives




su e
C A P IT A L $

1 0 0 ,0 0 0 -

S U R P LU S $ 2 0 0 ,0 0 0 .

Thb?N orthampton N a t io n a l Ba n k
" E . U • R l C k A R D S , P r e s id e n t
W £ u . k Ci J I B l E R , V i c e P r e s i d e n t
JO H N

N E U M E Y E R ,C a s h ie r

>/.

E A S T O N

^

- J
^

"

December
Twenty-Fourth
1913.

V

, P A .

—

-

"

V

K
<■ >:'•,'
2 ;5'
o

Eon# Mr# McAdoo,
flie Secretary of the Treasury,
Washington, 3)* C*
Dear Sir:
We feel that Philadelphia*s financial
importance and large industrial interests,
entitle it to be designated as one of the
Federal Reserve Cities#
We believe that we cannot too strong­
ly urge its selection and trust that you will
see your way clear to so include it when defin­
ing the Regions of the new System#
Yours ^ery truly,

e j r /k

President#

-■

'

*

1

'■

p - ----------------- :-------------------------------------------------------------------- Reproduced from the Unclassified I Declassified Holdings of the National Archives

H O N .T .Y . H O F F M A N , P R E S.




J . S . S C H 0 0 N O V E R , VIC E P R E S .

J.N .G IS H ,

Washington, B.C.
Bear Sir;
la the designating of
Federal

citiss as

Reserves w# Relieve it would ¥e

to the interest of the banks of this
section

if Philadelphia were named

and our *oard

at the meeting today

passed a resolution

to that

Very truly,

effect.

c a s h ie r

.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

A. G.

H E IS E Y

ALLEN

P R E SID E N T

A.

COBLE

J .H .E S H L E M A l\

V IC E -P R E S ID E N T

CASHIER

E lizab eth to w n Exchange Bank
...........

B e a r S ir :

A

/

/t^ y D




s'^ y l+ y

Reproduced from the Unclassified I Declassified Holdings of the National Archives

E L IZ A B E T H T O W N

Cnfmnge Hank
E liz a b e th to w n , P a.

A . G. H e i s e y , P r e s i d e n t
A L L E N A . C O B L E , V ice P resid en t
J. H . E S H E L M A N , C a s h ie r

DIRECTORS
A . G. H e i s e y
A l l e n A . C o b le
J o s . G. H e i s e y
D r. H . K . B l o u g h
H e n r y E . L a n d is
H . J. G ish
D r. A . M. K a l b a c h
J. H . B a ch
G eo. D . B o g g s
E. E. H ern ley
B. H . G reider




Reproduced from the Unclassified I Declassified Holdings of the National Archives

R

EPO RT

OP T H E

CON*

xO N

O F T H E

ELIZABETHTOWN EXCHANGE BANK
O f E liz a b e th to w n , S o u th M a r k e t S tre e t, o f L a n ­
c a s t e r C o u n t y , P e n n s y l v a n i a , a t t h e c lo s e o f
b u s in e s s , N o v . 1 ,1 9 1 3 .
RESOURCES.
R e s e rv e fu n d :
C a s h , s p e c i e a n d n o t e s . . . . f 2 7 ,7 5 5 0 0
D u e fro m a p p ro v e d re s e rv e
a g e n t s .............................................. 2 6 ,2 3 4 8 0
L e g a l s e c u r i t i e s a t p a r ..........
8 ,0 0 0 0 0
.................................
N ic k e ls a n d c e n ts . . .
C h e c k s a n d c a s h i t e m s ..................................
D u e fro m B a n k s a n d
T ru s t C om ­
p a n i e s , n o t r e s e r v e ....................................
A s s e ts h e l d f r e e , v i z :
B ills
d is c o u n te d :
Upon
o n e n a m e ...............................
$ 1 6 ,9 6 5 00
B ills
d is c o u n te d :
Upon
t w o o r m o r e n a m e s ........ 2 7 5 ,5 1 5 1 2
T i m e lo a n s w i t h c o l l a t e r a l
............
B o n d s , S t o c k s , e t c . , S c h e d u l e D ..............
M o rtg a g e s
a n d J u d g m e n ts o f re c ­
o r d . S c h e d u l e D - 2 , .........................................
O v e r d r a f t s , ................................... ........................
B o o k v a l u e o f r e s e r v e s e c u r itie s a b o v e
p a r .................................... .................... ...............
T o ta l

..........

L IA B IL IT IE S .
C a p i t a l S t o c k p a i d i n ....................................
S u r p lu s F u n d
.......
......................
U n d i v i d e d P r o f i t s , le s s e x p e n s e s a n d
t a x e s p a i d , ............
.........................................
I n d i v i d u a l d e p o s its , s u b ­
j e c t t o c h e c k .....................
$ 1 0 7 ,4 0 3 96
D e m a n d C e r tific a te s o f D e ­
p o s i t ...........................................
741 23
T im e C e r tific a te s o f D e p o s ­
it , . . . .
......................................
1 9 4 ,5 8 9 5 9
D e p o s i t s , M u n i c i p a l ................
7 ,4 5 0 4 2
D u e to B a n k s a n d T r u s t C os. e tc .,
n o t r e s e r v e ............................................................
D i v i d e n d s u n p a i d ........... ...............................
M i s c e l l a n e o u s l i a b i l i t i e s ................................
T o ta l

............

6 1 ,9 8 9 80
485 74
1 ,5 6 3 50
2 ,7 8 6 3 5

2 9 2 ,4 8 0 12
6 ,4 4 5 0 0
5 9 ,9 1 5 0 0
1 5 ,2 5 0 0 0
88 82
160 00
8 4 4 1 ,1 6 4 3 3
5 0 ,0 0 0 0 0
5 0 ,0 0 0 0 0
2 4 ,0 6 9 25

3 1 0 ,1 8 5 2 0
6 ,3 6 1 43
129 0 0
419 45
8 4 4 1 ,1 6 4 3 3

S t a t e o f P e n n s y l v a n i a , C o u n t y o f L a n c a s t e r , ss:
I , J . H . E s h e lm a n , C a s h ie r o f th e a b o v e n a m e d
B a n k , d o s o le m n ly a f f ir m t h a t t h e a b o v e s ta te ­
m e n t is t r u e t o t h e b e s t o f m y k n o w l e d g e a n d
b e lie f.
J . H . E S H E L M A N , C a s h ie r .
S u b s c r ib e d a n d a f f ir m e d to b e f o r e m e t h is 7 t h
d a y o f N o v , 1913.
S a m u e l B . K i e f e r , N o t a r y P u b lic .
M y c o m m is s io n e x p ir e s M a r c h 1 0 th , 1917.
C o b e e c t — A tte s t:
JO S . G . H E IS E Y , 1
G E O . D . B O G G S , ^ D ir e c to r s .
H . K. BLO UGH,




J

Reproduced from the Unclassified I Declassified Holdings of the National Archives

W. 8 . S M IT H , PRESIDENT.

'*• N . R U T T ,

v ic e - p r e s id e n t .

A A R ''

H. M A R T tN , CASHIER.

The Elizabethtown National Bank
U. S. DEPOSITORY

ELIZABETHTOWN, PA.r J a n , 8 191&

19

W.G.McAdoo Chaiman
Reserve Bank Organization Comnittee.
Washington, B.C.
Dear sir;Would you kindly send us another card containing Resolution of
Acceptance*

Te think Phi3.adelphia would be entitled to a federal Reserve Bank




Respectfully,
! /* M

1 2 1914

p--------- ------------------------------- —
--Reproduced from the Unclassified I Declassified Holdings of the National Archives

C. A -M

a r t in

, P

J. E . V

r e s id e -

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an

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oroer,

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ic e

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n a t io n a l
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C-




J o h n G. C

r e s id e n t

obler,

C

a s h ie r

Ba n k
c it y ,

Pa .

f. / r / 4 £

Reproduced from the Unclassified I Declassified Holdings of the National Archives

maus
U n it e d

S t a t e s De p o s it a r y .

Ca p it a l a n d S u r p l u s

M. J. BACKENSTOE,
President-.
R.LORENTZ MILLER,
Cashier.

$ 1 0 0 ,0 0 0 9 9

JntiausfPa. ^eo*

2 4 th,

I9 i 3 ,

of the Treasury, U. S. A*,
Washington, I). C.
"Dear Sir:How that the new currency act will shortly
be in force, and which, by the way, we see with pleasure,
we beg you to use every effort to have Philadelphia des­
ignated as one of the Federal Reserve Cities,
We are willing, of course, to submit to what­
ever the final decision may be on this important point,
but we are certain that if Philadelphia is eliminated
it will seriously interfere with our facilities for do­
ing business.
Trusting that your Department will give this
matter whatever attention the subject may deserve, and
thanking you for the same in advance, we are,




Most respectfully yours,
THF, EMAUS NATIONAL BANK
President

::ror

■=$

pp"*4---

11

-—

Reproduced from the Unclassified / Declassified Holdings of the National Archives




NO . 3 2 5 5

We should be pleased to have you select
Philadelphia as one of th© Federal Reserve
Cities.

Its present standing and its past

record in the financial affairs of our
Goverinent ought to have great weight with
the Organization Committee in doing so.
Respectfully,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

The E _>wningtown National Banl;
191^

EAST DOW NING TOW N, PA.,
Yours of the. ______~L_..^V^inst. received with stated enclosures.

f n .-/>. f /cX_

_

/

S i- /

&

I ^ L '-

^ r ~ tc ^ A j/jU ^ 'y<z C l ^ ^ / //^ t^ L e ^ .
{ J u s r - r ^ t,




CA l ' l

THOMAS W . DOW NING, Cash(er.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

)Vnrhe JC^wningtown National Banl




^

EAST D O W n / t g V

PA,

/ ' V

.

4

'/

MAS W . DOW NING, Cashier.

Reproduced from the Unclassified / Declassified Holdings of the National Archives




p

p

W

B

S

S

S

B

B

i

^

Reproduced from the Unclassified I Declassified Holdings of the National Archives

J C.M

^

9GI NNI S, PRESIDENT

J . K. B E R K, VICE PREST

R OBT . G GARRET T, CASHIER

'Vir.it Vatiemil
NO. 7 8 6 0

>Vo.

December 27, 1913.

Commission on Selecting Reserve Cities,
c/o Secretary of the Treasury,
Washington, D. C.
Gentlemen:As one of the institutions that have been doing business ex­
clusively with reserve agents in Philadelphia, we would like to call your
attention to the inconvenience and additional expense that would be en­
tailed if we would be obliged to deal with a reserve agency in New York
or any other distant city*
When this bank was organized we established a reserve agency
in New York, but found, before we were doing business six months, that it
would be necessary for us to have said agency in Philadelphia^ and after
doing business with the two agencies for an additional six months, we
abandoned the New York reserve as being entirely useless to us.
The more reserve agencies we have, the greater amount will be
required to maintain them, and at a corresponding greater expense.
The business of our merchants is transacted with Philadelphia
wholesale houses almost exclusively, and we can see many ways in wnich the
elimination of Philadelphia as a Regional Reserve City would militate
against us. We need not call your attention to the banking resources and
the deposits of not only the National Banks, but the State Banks and Trust
Companies, of Philadelphia, as compared with other cities, because that is
a matter of record.
Philadelphia is easy of access; it can be reached, business
transacted, and a return made the same day. This cannot be accomplished
with New York* There will be many occasions when personal interviews or
service by messenger will be needed, and if the convenience of the public
is to be taken into consideration in the establishing of the Regional
Reserve Banks, then, there is every reason why New York should be eliminat­
ed in favor of Philadelphia.
The writer has very strong views on this question and believes,
if the public interests are to be the controlling influences in the fixing
of the locations of the Regional Banks, that Philadelphia has, by far,
greater advantages for this purpose, than has the city of New York.
Yours

very

truly,
f

JCM/M.:



L

PRESIDENT

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C A P I T A L

^

II liW » « F » n * h n

$ 1 0 0 , 0 0 0

■

S U R P L U S

i r-

S A M

J . E L M E R

M U S S E L M A N ,* im j« r .

L

$ 1 5 0 , 0 0 0

M . B U S H M A N ,

C a s /ie e r .

Jany. 2nd, 193-4.
r

The imminent enactment of the new currency bill
brings before bankers the question of the designation of
the Federal Reserve Cities.
Philadelphia, as a business center and because of
its financial strength and its record, is entitled to a
Federal Reserve Bank.

As we believe it would be to our

interest to have Philadelphia designated as one of the
Federal Reserve Cities, we wo\ild appreciate it very much if
you would Kindly comply with the above, as ?/e have been
doing business with the Philadelphia Banks for the past
fifty years.
Thanking you in /advance for anything you may do
for us, I am,




Very truly yours,
fU

L

—
^

President.
^ lw V V d r \ w L J j
!

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i s m

j

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C A P I T A L

$ 1 0 0 ,0 0 0

S U R P L U S

P . 0 . t 1 l H T r n , J r'j 'ir r f i ''r i" A

S A M 'L

U . E L M E R 'M U S S E L M A N ,

Secretary'of the Treasury,
Washington,
Dear Sir:~

We beg

A s e t.

$ 1 5 0 , 0 0 0

M .B U S H M A M , C m s /ttw .

C & s /i fe r ,

Jan 5th,

1914.

D. C.

to go on record as favoring

the establishment of one of the regional reserve
banks in the City of Philadelphia, and our
reason for fafcoring the same is on account of
the close business relations that exist between
our section of the country and the City of
Philadelphia, and we fefel that for banks par­
ticularly in this region the best service would
be given and hope the Organisation Committee
may see their way clear to establish a bank at
Philadelphia.




Very truly yours,
j!i w i 'v h / V - t —

.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

P R E S ID E N T
J U L IU S

E.

V IC * PRE
FR A N K

N A C H O D

G E O R G I

X

C A S H IE R

DENTS
G.

R E N N IN G E R
N

C.

R IT T E N H O U S E

W H IT A K E R

D IR E C T O R S
L O U IS

R. DUTTON

J U L IU S

E.

J. E R N E S T

rfA Y C . E V A N S
W IL L IA M

TURNER

FO W LES

F R IT Z

W IL L IA M

F R A Z IE R

H A R R 1I SS O
ON

FRANK X.

M IC H A E L
AMOS

GUS

E. HAU SER

NACHOD
NACHOD

Q U IT T N E R
R E N N IN G E R

STOEFFLER

G . N . W H IT A K E R

H . H O R T IN G

December 50,______

/£ /3

to The Honorable Commit tea for the Organtz?
of Regional Reserve Banics,
Washington, D. C*
Sirs:
Tna currency b i n provides for not less than eignt nor
more tnan twelve reserve banics, We in Philadelphia and country
oanks nice the Gienside National Bank Who do their business
through the Philadelphia banics deem it of the greatest importance
that Philadelphia be named as one of the cities to have a reserve
bank. The Gienside National Banic which is situated m Gienside
a suburb of Philadelphia has most of its depositors doing
business m Philadelphia and living here, the prosperity of the
Gienside National jaanic is very cioseiy connected with the pros­
perity of Philadelphia and we therefore most earnestly and
respectfully request that Philadelphia be named as one of the
cities to have a federal reserve bank, Philadelphia is one of
the largest collection centres of the United States and stands
third in its banking reserves with ail of the cities of the
United States, Should Philadelphia not be named as a reserve city
the banking capital of Philadelphia would be taicen from the
Philadelphia banics and transferred to some other city. The curreriy
act aiso provides that ail our reserve except such as we iceep m
cash at the bank snail be deposited with the Regional .bank,. How
many m i n i o n that would take out of the Philadelphia banks is
difficult just now to calculate but it w i n be many minions.
Philadelphia is one of the largest manufacturing centres m tne
clnited States, If a reserve bank is not placed near the country
banks contributing now to Philadelphia it w i n cause considerable
confusion, inconvenience and expense. We therefore most earnestly
urge upon your honorabi® body to name Philadelphia as a reserve
centre which represents considerable trade and banking capital.
Trusting you will giva arr to our just appeal, we are




Reproduced from the Unclassified / Declassified Holdings of the National Archives

5601.
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T h e F irst N a t i o n a l B a n k o f H a r r i s b u r g ;
.H a r r i s b u r g ,-P a ,

SfNSmtajfy Of the ®T0*i98CEy#
'Zteahiagton, D. C.

Pear Sir*
He %e§ to go
o f qm o f the new regional m i m

beaks la the Citsy o f IM1*-

dfcelphiju and ow reeeoa far ftitoriiig the mmh le on account o f
the oloee huetnese r*latione that exiet between otar section of
the ootmJary aRd the City of PJilla4te3#hI»* and *e fe e l that far
M i i partloulearlgr ia» th ie region the fceet servioe ucaid lie given
flfnti hope the Ofgegils&tlon Goawitteo may see their aey o le a r to




eatafcllah a barit At Philadelphia#

Reproduced from the Unclassified / Declassified Holdings of the National Archives

D. L . J A U S S , P r e s id e n t

J A M E S B R A D Y , VipE P r e s .& C a s h i e r

E . J . G L A N C e Y, A s s t . Ca s h i e r

First N a t i o n a l B a n k
Ha r r i s b u r g , P a .

Deo* 26, 1913*
Hon. William ©. McAdoo,
Secretary of the Treasury
Washington, D. G.
Sir,—




We heartily endorse the action of the
Philadelphia Banks in requesting that a
Federal Beserve Bank he established in £he±r
City.

Pennsylvania certainly ought to ha

recognised and there is no question hut that
Philadelphia is the proper place to put it—
in our opinion*
Respectfully,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

ED W IN C . TH O M PSO N ,

P r e s id e n t

S P E N C E R F. B A R B E R ,

V ic e -P re s id e n t

C L A Y T O N G. M ILLER,

C a s h ie r

DIRECTORS
Spencer
J o seph

F . B a r b s *.

J. New to n
C h ar les
fr a n k

J ohn
E d w in

C I T I Z E N S

C . esh lem an
H erb

H. Ho ffm an

B A N K

CAPITAL .
SURPLUS .

$ 5 0 ,0 0 0
$10,000

HARRISBURG, PA.

K . k it z m iu .b r
H . m ? il .h e n n t

December 26, 1913

C . T hom pson

Hon. ¥m. McAdoo, Secretary of the Treasury,
Washington, D. C.
Dear Sir:On account of Its past record as a financial and business
oenter, we believe that Philadelphia is entitled to, and should
be designated as one of the Federal Reserve Cities under the law
whioh has just been passed.
We will appreciate if you will use your influence and
lend your support in this direction.




Yours very truly,

Cashier.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

SOLON D. BAUSHER, Preside,t.
DANIEL A. BURKEY, Fim
DAVID S. WOLFE, Second

C A P IT A L $ 5 0 , 0 0 0 . 0 0
SU R PLU S $ 1 2 0 ,0 0 0 .0 0

President.
President.

HAMBURG

SAVINGS

J. JEROME MILLER. Cashi.r.
CHAS. D. BURKEY, Assistant Cashier.

BANK

'■ Hamburg, Pa.,December 29, I913. , 191

'y**

Organization of federal Reserve Bar

Hon.
D ear Si

"banking institution we are vitally interested in
the

of one of the Regional Reserve Banks, under the late­

ly enacted currency law, in such city as may prove convenient for our
business purposes.

We are

doing business in Eastern Pennsylvania,

in one of the most populous manufacturing sections of the country, and
within convenient distance of one of the great financial centres of the
country, namely the city of Philadelphia, in the banking institutions
of which city we carry an average deposit of $50,000., and through whom
we make the great bulk of our collection items.
The selection of the city of Philadelphia for the location of one
of the Reserve Banks will be a decided advantage to hundreds of

bank­

ing institutions, including our own, doing a vast amount of business,
and we trust that in the final disposition of these several Regional
Reserve Banks, the city of Philadelphia may have favorable consider­
ation at the hands of your Committee.




Very respectfully
HAMBURG SAVINGS BA1IK
by

Cashier.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

P R E S ID E N T

V>CE P R E S ID E N TS

JOSEPH S. HEPNER

■ /

CASHIER

JACOB E. NAFTZINGER
GEORGE B. MILLER
A. A. BAVER

H. RAYMOND SHOLLEft BERGER

The F irs t N a tio n a l B a n k
HftlllbU f Q D e c e m b e r

27th, 1913

Hon. Wm. G. McAdoo,
Secretary of the Treasury,
Washington, D. C.
Dear Sir:
We note that the new Federal Reserve Act authorizes
that Federal Besefve Banks shall be organized in at least eight
cities and on behalf of our bank we would like to state that
it would be to our benefit in very many ways to see Philadelphia
have one of these organizations.

Philadelphia serves us in a

manner that New York is in no position to serve and if a reserve
centre is not established in Philadelphia we would be placed to a
great disadvantage.

We will be pleased to give our reasons

in detail and at length if occasion requires but for the present
we are satisfied to urge our claim to Philadelphia with the hope
that you will consider the wishes of country banks.




Yours truly,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

J . D . Z O U C K , Pr e s i d e n t
G . D . G I T T , ViCE-PREST

N ? 18 7 .

W. D . C A R V E R , C a s h i e r

'A\\«\\yaV \ v\V\V WttV^VWxVv ^ \ V \ W V V <Y.
C A P ITA L

$ 2 0 0 . 0 0 0 9 ?

W a \ U ) VH'Y , ' \ N VV .

January 7, I9I4«

The Hon. Vi111am McAdoo*
Secretary of the Treasury*
Washington, D. C.
Dear Sir?~
It is the unanimous opinion of the Board of Directors of
the First national Bank, Hanover, Pa., that the city of Philadelphia
should be designated as the location of one of the Regional Reserve
banks, believing that Philadelphia’
s location geographically, its
position from the standpoint of population, banking capital and
deposits as well as the fact that it is first in point of
manufacturing, entitles it to the honor of being chosen a Reserve
Center*




Respectfully,

r~--------- :----------------------------------------——----Reproduced from the Unclassified / Declassified Holdings of the National Archives

S H E P P A R D & M Y E R S CO.
M A K E R S OF
THE H A N O V E R

S H O E

HANOVER,PA.

^

O

%

12 January *14.
Hon. William McAdoo,
Washington, D.C.
Dear Sir:
We would like to see Philadelphia selected as one of
the Federal Reserve Cities, and feel that from the viewpoint of
finance, manufacture, population and location it is surely entitled
to selection.

The importance of the Quaker City in the matters

mentioned above is well known, so it ia unnecessary to go into details
in support of the contention*

Trusting that you will see fit to

urge the selection of Philadelphia as a Federal Reserve City, we are,
Yours truly,
CNM/s.




SHEPPARD & MY.ill:) C i
21 ___

<7

Reproduced from the Unclassified /Declassified Holdings of the National Archives

I

n c o r p o r a t e d

1885

R. M. W IR T
JOHN

P. W IKEBRENNEH, TREASURER

J. KC

H

a no ver

S

a v in g

F

und

S

o c ie t y

H a n o v e r , P a . Dec. 30th, 191.3,*,
ih -

Hon. Secretary of the Treasury,
Washington, D. 0.
Dear Sir,We beg to ask your consideration to the fol­
lowing in the interest of Philadelphia, Pa. as a Fed­
eral Reserve City.
We scarcely think we need mention in detail the
importance of this City in this connection.

The re­

sources of its Banks and Trust Companies total in the
hundred of millions, and the past conservative policy
of the Philadelphia Banks at all times, we think, speaks
for itself.

They have always showed in times of panic

and distress, every fairness to their people and in­
terior Institutions.

oo

■;wo millions of people, in addition to its vast commer­
ct>

cial and manufacturing interests, we think should en­
title

z
<

eight

housand millions, and serving a Community of nearly

Q

Ld
K
yj

Their annual clearings of

them to every consideration.
Anything that you may do for them in your good

^judgment and Office, we feel must reflect credit to your­
self and a good to the People.




Yery truly yours,

/

0

Reproduced from the Unclassified / Declassified Holdings of the National Archives

I

n c o r p o r a t e d

1835

R. M. W IR T, PBKSIDBNT

I*. W INEBEENNER, TRBASVBKB

JOHN J. SCH M ID T, VICE PBH8IDRNT

T

H

h e

a n o v er

S

a v in g

F

H anover,P a.

u nd

S

o c ie t y

Dec. 30th, 1913.

Hon. Secretary of Agriculture.,
Washington, D. C.
Dear Sir,We beg to ask your consideration to the fol­
lowing in the interest of Philadelphia, Pa. as a Fed­
eral Reserve City,
We scarcely think we need mention in detail the
importance of this City on this connection.

The re­

sources of its Banks and Trust Companies totak in the
hundred of millions, and the past conservative policy
of the Philadelphia Banks at all times, we think, speaks
for itself.

They have always showed in time® of panic

and distress, every fairness to their people and In­
terior Institutions.

Their Annual clearings of eight

sand millions, and serving a Community of nearly two
ons of people, in addition to its vast Commercial
anufacturing interests, we think should entitle
to every consideration.
Anything that you may do for them in your good
judgment and office, we feel must reflect credit to your­
self, and a good to the People.
Very truly yours,
P ^ /R .



TRFAFTJFFR.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

In c o r po r a ted

18 3 5

R. M. W IR T, PHKSIDENT
JOHN

J. SCH M ID T, VICE PBHBIDENT

T

h e

H

a no ver

S

a v in g

F

und

H anover,P a.

S

o c ie t y

Dec. 30th, 1913.

Hon. Controller of the Currency,
| ! !

Washington, D. C.
Dear Sir,-

We beg to ask your consideration to the fol­
lowing in the interest of Philadelphia, Pa. as a Fed­
eral Reserve City.

p —

^e scarcely think we need mention in detai|T'€Ee
I
imx.)Ortance of this City in this connection.
The 1re^_.„.,
sources of its Banks and Trust Companies total in the
hundred of millions, and the past conservative policy
of the Philadelphia Banks at all times, we think speaks
for itself.

They have alwasy showed in times of panic

or distress, every fairness to their people and Inter­
ior Institutions.

Their Annual clearings of eight

thousand millions, and serving a Commtoity of nearly two
millions of People, in addition to its vast Commercial
and Manufacturing interests, we think should entitle
them to every consideration.
Anything that you may do for them in your good
judgment and Office, we feel must reflect credit
self and a good to the People.
Very truly yours,
p w /r



.

'

-— — ^

~

^

Y
’
RTCASTTFFR.

J:

Reproduced from the Unclassified7 Declassified Holdings of the National Archives

O.

J2. C.

ROBINSON

PENROSE ROBINSON

W M . F.

Ca p i t a l $ 5 2 , 0 0 0
S u r p l u s a n d U n d i v i d e d P r o f i t s (earned) ov er
No.

WILSON

$ 1 0 0 ,0 0 0

2253.

' t m

H at boro, P enna.
Dee. 27, 1913
Hon. Wm. G. Me Ad to,.
Secretary of the Treasury,
Washington, D. .C.
Dear Sir:
We wisif to urge upon you the importance of making Philadelphia,
Pennsylvania, one of the Pe&eral Reserve cities of the United States,
as provided under the new currency Bill signed by the President on
December

2 3 rd.

Philadelphia occupies the third place in comparative importance,
both in Bank Resources and in total Deposits.

It has the facilities

and location to accommodate the Banks ©f Pennsylvania* which naturally
turn to it as a center for Banking business.
We therefore respectfully urge upon you the importance of
Philadelphia in this connection.




Very respectfully,
HATBORO NATIONAL BANK,

SURPLUS $10,000

CAPITAL *50,000

The Haw ley Bank
HAWLEY, PEN N A.

£

December 29, 1913 j

Hon Wxa. G. McAdoo, Sec* Treas.,
Washington, D. C.
Dear sir:We are addressing you in the interest of Phila­
delphia as a Reserve City under the provisions of the
Federal Reserve Act recently passed by Congress, The fi­
nancial history of the City needs little comment. It is
only necessary to make mention of the fact that Phila­
delphia finances and financiers have been prominently
identified with the growth and history of this country
siince its inception and predates the founding of the
present TTnited States Government. You are also aware that
tke city stands third in respect to the amount of total
assets-its large Trust Funds not included. Since New York
put into effect the exchange charge Philadelphia has been
the collecting point for nearly all Eastern sections arid
for many of the 3fest and Northwest. To deny Philadelphia
a Federal Reserve Bank would be to destroy or at least
disrupt the present satisfactory collection arrangements
and a consequent demoralization of banking facilities. We
fore urge upon the Committee favorable consideration
ISfcC thd ci ty as a Federal Reserve.
FO R M

*




Very truly^p>>irs

Reproduced from the Unclassified / Declassified Holdings of the National Archives

I

Secretary of tlte freaenry*

*1
c
niM

191.4

Washington* V. c.
Bear B in
We beg to go on record an favoring the eatabliehiaent
o f one o f the new regional reserve toanlrs In the City of Phila­
delphia* and our reason for favoring tlle sasae is on account of
the olose business rel&tloxia that ex ist between our section of
the country and the City of Philadelphia* and *e fe e l that tor
batiks particularly In thie region the beet aervioe iwuld be given
and hope the Organisation Ooasdttee any «ee th«t* wty clear to
eetabliah a bank at Philadelphia*




Very truly youro*

s
i

*

~

Rer
Reproduced
from the Unclassified I Declassified Holdings of the National Archives

C A P I T A L , f IO O ,O O O .

SURPLUS, #

7S , 000.

pxxzt $zdx&xwl^mxk,
O F H O L L I D A Y S B U R C , PA.
J . L .H A R T M A N , P r e s i d e n t .

U . G . S H O P E , Ca s h ie r

Honorable, $he Secretary
of the United States treasury, Washington, B.C*-,
Dear Sir;I am delighted to leara through the daily papers that the
Committee for organizing Regional feserve Banks under the late Act of
Congress has consented to accord the Representatives of Philadelphia a
hearing in your City sometime in January.
It is our earnest desire that you give this matter your serious
consideration for the following reasons - FIRST: that Philadelphia is
the third City in the rjnited States in Resources and Deposits;

3KC08TD:

that it is the reserve center for more country Banks than any other Cit y
except Hew York and Chicago;

fHIRD: that it is safe to state thfct two-thirds

of all the business of Eastern Pennsylvania, New -Jersey, Delaware and
Maryland is transacted through Philadelphia Banks; and FQUBTH- that c e rtainly

the great 3tate of Pennsylvania with all its natural resources, its manufac­
tures and wealth

is entitled to recognition by your Honorable body.

Permit me to say,for our own institution that in my fourteen years
experience, and with positive assurance , more than th»ee fifths of all our
business has been with Philadelphia and we sincerely hope and trust that you w:will find it expedient and for the general welfare and best interests

our

country to give our good old Quaker City one of these Reserve Banks and to
this aim and object your earnest consideration and^d^forts will be very much




Reproduced from the Unclassified / Declassified Holdings of the National Archives

W a y n e Co u n t y S avings B a n k

W. e . H O L M
A .T . S E A R
H . S .S A L M
w. j . Wa r d

E S , PRESI DENT.
L E , Vice p r e s i d e n t .
O N , CASHI ER,
, asst.cashier

H o n e s d a l e . P a .,

January 10"1914.
Hon. Wm. G. McAdoo,
Secretary of the Treasury,
Washington, U.C.
Bear Sir;I desire to call your
attention to the advisability of locating one
of the Federal Reserve Banks in the city of
would seem as if the metropolis
of the great State of Pennsylvania was entitled
to this and that her claims are so c]J.ear as
not to require any argument.
Philadelphia Has always "been noted
as a city of conservatism. She is the third
largest of our cities, and is only outranked
in Banking Resources and Deposits iiy Hew York
and Chicago.
We have always found it to our
advantage to keep part of our reserves in
that city.




Very truly yours,
i c**

c .h i

Cashier.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

REPORT

OF

THE

C O N D IT IO N

OF T H E

W

ayne

C ounty

S

h o is t e s d a l e

At

the

close

of

B

a v in g s
,

ank,

P A .,

Bu sin e ss, N ov. 1,

1913.

S t a t e m e n t to the C o m m i s s i o n e r o f B a n k i n g .

RESOURCES.

LIABILITIES.

Loans,
$1,003,195.21
R eal Estate,
35,000.00
I n v e s tm e n t Securities,
1,S04.900.00
Cash,
t 50,827.30
Due from B anks,
124,2d 1.78
N e w Y o rk C ity B o nd s
(Legal Reserve) 45,000 00— 220,089.u8
O verd rafts
39.44

Capital Stock, Surplus,
U nd iv id ed Profits,
Deposits,
Due to Banks,

$ 3 ,0 6 3 ,2 2 3 .7 3

St a t e

of

P

e n n s y l v a n ia

: C

ounty

ok

W

a y n e

$ 200, 000.00
325,000.00
58,521.70- - 583,521.70
2,474,142.10
5,559.93

$ 3 ,0 6 3 ,2 2 3 .7 3

,

ss.

I, H. S. Salm on, Cashier of the above n a m ed B ank, do so le m n ly sw ea r th a t the above
sta te m e n t is true to the best of m y k n o w led g e and belief.
H. S. SALM O N, Cashier.
Subscribed and sworn to before me, Nov. 7, 1913.
El. A. SMITH', Notary Public.
Correct— A ttest :
A. T. SEARLE,
)
E. W. GAMMELL,
VDirectors.
J. W. F A R L EY ,
)




Reproduced from the Unclassified / Declassified Holdings of the National Archives

T h is

year

com pletes

the

ABSOLUTE SECURITY TO DEPOSITORS.

F orty-S econ d

s i n c e t h e f o u n d in g o f th e

Wayne County Savings Bank

1871

-

1913

Arc HONORABLE RECORD OF 42 Y EA R S.

M a n y b a n k s h a v e c o m e a n d g o n e d u rin g
th a t period*
PATRONIZE one th a t h a s WITHSTOOD the
TEST of TIM E.

WAYNE COUNTY SAVINGS
Established November i, 1871

SAFE DEPOSIT BOXES FOR RENT
DIRECTORS:
W. B. HOLMES,
A. T. SEARLE.
H. J. CONGER,
P. P. KIMBLE,
W. F. SUYDAM,
H. S. SALMON
T. B. CLARK.
C. J. SMITH,
J. W. FARLEY.
E. W. GAMMELL

Interest Allowed on Savings Deposit
From the FIRST of every month on d ep o sits
made on or before the TENTH of
the month.



PA.

HONESDALE,

Capital
Surplus
Undivided Profits

$ 2 0 0 ,0 0 0 .0 0
3 2 5 ,0 0 0 .0 0
- 5 8 ,5 2 1 .0 0

Total Capital

*58:5,521.00

NOVEM BER 1, 1913.

O

W.
A.
H.
W.

F

B. HOLMES,
T. SEARLE,
S. SALMON, •
J. WARD,

F

T C

K R

S

:

PRESIDENT
VICE PRESIDENT
C ashier
- ASSISTANT CASHIER

THE BAN K THE P EO PLE USE.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

H E N R Y Z . R U S SE L L , P r e s id e n t.
ANDREW THOMPSON, VicePresidei.

LEWIS A.HOWELL, Cashier

NO. S 4 4 -

-

A .C . LINDSAY, A sst.C ashier

£

Scretarv of tho Treasury,
Washington, D.
Dear Sir:We bag to go on record as favoring the establishment
of one of the new regional reserve banKs in the City of Philadelphia, and our reason for favoring the same is on account of the
close business relations that exist between our section of the
country and the City of Philadelphia, and we feel that for
banfcs particular in this region the best service would be given
and hope the Organization Committee may see their way clear to
establish a banK in Philadelphia.




Very truly yours,

j?

Reproduced from the Unclassified / Declassified Holdings of the National Archives

V lC t

V ic e P r e s id e n t

P r e s id e n t

L. A. LEWIS

F. E. MOORr

J. W. BISBEE

M. W. PALMER

C a s h ier

ESI D E N T

ijojj Hottmn National Bank
No. 0fi47

Surplu s, $ 1 0 ,0 0 0 .0 0

Capital, $ 2 5 , 0 0 0 . 0 0

HOP BOTTOM, PENN’
A
Reserve Bank
Organization Committee,
Washington, B. C.
Hon. Sirs:-

We beg the liberty of writing you soliciting your

careful and serious consideration of Philadelphia as a location
for a Regional Reserve Bank.

Our officers and directors are much

in favor of Philadelphia as a location for one of these banks.
We think the great state of Pennsylvania with its large
population, its extensive natural wealth and agricultural resources
and its vast financial prominence, should have a Reserve Bank.
As Philadelphia is the natural, and as the trend of banking business has demonstrated, the logical banking center of the
state, it is our opinion the city should be chosen for one of the
banks in question.

Philadelphia not only serves her own state but

reaches vast interests outside the state.
It is our conviction that Philadelphia banking interests
have been and are at present of more service in extending banking
facilities to the rural districts and to the farmer than those of
any other city mentioned as a Reserve Center.

Along this line they

have carried the burden of collecting at par all checks received by
thenfrom the country banks and this alone has be^a great assistance
to the country banker.




The interest that is being taken by

s in agricultural developement demonstrates they

Reproduced from the Unclassified / Declassified Holdings of the National Archives

V ic e P r e s id e n t

P r e s id e n t

L. A. LEWIS

F. E. M OORr

J. W. B1SBEE

M. W. PALMER

V ic e

£S1 d e n t

C a s h ier

Ifop lottom National lank
N o . 0 fi4 r
Surplus, $ 1 0 ,0 0 0 .0 0

Capital, $ 2 5 ,0 0 0 .0 0

HOP BOTTOM, PENN’A

are alive to the needs of a growing nation and are always
ready to render assistance in the beet possible way.
With the great amount of banking business that has
been going to Philadelphia for a good many years past we feel
the selection of this city would make it possible for the
business to continue along the same convenient channel, thereby
making the change to the new system much less complicated for
a large number of banks.
Thanking you in advance for your consideration of this
matter, I am




Yours very truly,
Cashier.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

L. W. Beyer, PresidesJ as. H. Minds, Vice-P.
Jent,
Geo, W. Ganoe, Cashier.

6695

Capitals $50,000
Surplus, $80,000
Undivided Profits $io,ooo

Dec.

51

1913

Hon. William (r. McAdoo
Secretary of tlie
Washington
^w
f-

Jt
I am instructed by ,th% Board ojT^irlotors of this Bank to
write to you urging the designation of Philadelphia for the
location of one of the Federal Reserve Banks authorized by the
Glass-Owen Currency Bill.
Philadelphia shares with Hew York City in the business of the
states of New York ,Pennsylvania,New Jersey.Delaware.Maryland,
Virginia and Wesfr Virginia,more nearly rivals New York City than
any other eastern city,drafts drawn on Philadelphia are accepted by
our correspondents as readily as on New York City,it seems to us
that to establish a reserve bank in New York City and deny a like
bank to Philadelphia will increase the prestage of the one at the
expense of the other and more and more centralise ftnds in New York.
Philadelphia has always been our principal depository,some of
our neighbors doing nearly all their business there,we would dislike
very much to have to make any change •
Our postal,arrangements are good and should it become necessary
to personally transact business with our eastern correspondent we
find our railroad connections all that can be desired.
We trust your Committee may see the way clear to make Philadel­
phia the place of one of the Federal Reserve Banks.
Respectfully




Cashier

Reproduced from the Unclassified I Declassified Holdings of the National Archives

N O .8924
J A M E S

rt . B O A K , P r e s i d e n t

H.G.VAN D E V E N D E R , C a s h ie r .

OF LYCOMING COUNTY
C A P IT A L # 5 0 . 0 0 0 .

HUGH E S V I LL E , P A .

December 29th 1913.

Hon. William G. McAdoo,
Secretary of the Treasury,
Washington, D. G.

i-A
j
••

cr

(

Sir
In the selection of cities for the location of
Regional Reserve Banks, recently authorized by act of
Congress, we respectfully request your favorable consider­
ation of Philadelphia.
This city has become in recent years, a general
clearing house for possibly two thirds of the banks in
Pennsylvania, and is so centrally located that it is a
natural centre of adjoining states.
We feel justified in asking most favorable consideration
and designating this city as one of the points for the
establishment of

a Federal Reserve Bank, and trust it will

merit your unqualified approval.




Respectfully,
I

___ ^

—1

Reproduced from the Unclassified / Declassified Holdings of the National Archives

3902

M

i t &

Kuiimutl Bunk,

t

H U G H E

E on.

S e c r e ta r y

D ear

o f

th e

S V IL L E , PA .

2 4 th

1913

T rea su ry ,

W a sh in g to n ,

D.

C.

TO

YOU

S ir : WE

BEG

P H IL A D E L P H IA
UNDER

THE

URGE
AS

UPON

ONE

RECENTLY

OF

THE

T H IR D

AS

E X T E N SIV E

WELL

AS

HER

IN T E R E S T S ,H E R
STATES

IN

LEARN

P O SIT IO N

EVERY

A PPO IN T M E N T .
OFHER

IN'

WE

THE

OF

ONE

OF

ALL

PEN N SY L V A N IA N S

IN

AND

ARGUE

IN

TRULY,

BE

N A M IN G

C IT IE S ,
THE

C IT IE S
U N I Or},

M A N U FA C T U R IN G

MOST

W IL L

OF

THE

THE

NAMED.
VERY

B IL L .

S IZ E

C O M M E R C IA L

DEPARTM ENT,

B E IN G

RESERVE

CURRENCY

P O IN T

IN

IM P O R T A N C E

FEDERAL

ENACTED

IM P O R T A N C E , THE




D ecem ber

IM P O R T A N T
FAVOR

OF

D E L IG H T E D

THE
TO

P "

:
:
:
:
-----------1 1
Reproduced from the Unclassified I Declassified Holdings of the National Archives

ALLEN K.WALTON,p

W. C.BAKER, M.D.vi c e

re s t.

m

s

p r e s t

H A R R Y M.HORST,

c a s h i e r

B a n k «*• H d M M fiL s r o w
CAPITAL $ 5 0 , 0 0 0

H u m m e l s t o w ,Pa .
Hon.

:v

Dec, 27, 1913
G. McAdoo,
C.

Secretary of the Treasury,
Washington, D. C.
Dear sir:
We address you as a member of the Committee for Organizing
Regional Banks and Reserve Cities, and would respectfully pray, that
in selecting reserve

cities you yould consider Philadelphia, Pa. as

a point where a reserve center be established.

The Banking interests

of Philadelphia, Pa, and the surrounding territory are the financial
interests of several million people and the resources amount to
practically a billion of dollars.
Philadelphia has served this territory very well for more than
fifty years and while we are but one comparatively small bank located
near Philadelphia, Pa. we know

that we have transacted a vast volume

of business with the Philadelphia banks and it is quite natural for us
to turn thither, not because of our established custom alone,
account of ready access
facilities

but on

by means of rapid and sure communicate

with this point.

Thanking you in advance for your kind consideration w<
beg to remain




Very truly yours,

/^

~

gi

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C A P IT A L . $ 2 S l

S U R P LU S , $ 1 9 0 ,0 0 0 .

OO.

Fa r m e r s

B a n k

o f

In d i a n a

H A R R Y W .W IL S O N , P r e s id e n t .
. J O H N B .T A Y J . O U ,V i c

k P h b s id k n t.

I n d ia n a , P a . J any 2nd 1914

JO H N G .S iO L A D l, C a s h i e r .

C /s-

Hon

Wm G. McAdoo,

#

/

Treasurer of the U. S.
Washington, 33. C.
Dear Sir:tr« beleive that it would be very much ,to the
advantage and bennefit of the citizens of Pennsylvania
to have both Philadelphia and Pittsburg have Federal
Reserve Banks located in these cities, we certainly think
that the amount of business

done at both these city*s

not only for %ke-themselves but for the greater part
of Pennsylvania should entitle them to have Federal
Banks located there*
They both handle an immense amount
of business for the banks throughout the state for which
they do not make any charge, and we think they should be
granted

the bennefit of these Federal Banks that they

way serve us

in a satisfactory way. Trusting that you

may be able to grant th£s I beg to remain,




Yourf*-)very respectfully
Vice President

mm

- ■

Reproduced from the Unclassified I Declassified Holdings of the National Archives

JO H N

TH O M A S ,

HO N. A. V. B A R K ER ,

W M .

1s t V ic e -P r e s id e n t

p r e s id e n t

C.

K R IE G E R ,

. Secretary
IN C O R P O R A T E D

T h e

Jo h n s t o w n
C A P IT A L

$ 2 0 0 ,0 0 0

-

and

JO H N

T reasurer

R O B ER TS,

190 0

T r u s t
-

D.

V ic e -P r e s t . a n d T r u s t O f f ic e r

C o m p a n y

S U R P L U S

$ 2 0 0 ,0 0 0

JOHNSTOWN, PA___ 1)60^26. 1913.
Hon. Wm• A . MoAdoo,
Sesretalry of the Treasury,
Washington, D.
Dear Sir:
In t l% selection of Federal Reserve Cities, we
trust that you will give the city of Philadelphia of this
State your earnest consideration, as we do considerable
business with banks in that city.




p» "

- ^
Reproduced from the Unclassified / Declassified Holdings of the National Archives

N? 2 2 4 9

^ I e x k i x t <) > \ x N a t i o x a l 1)a x k
CAPITAL $ 1 0 0 . 0 0 0
H E N R Y

SURPLUS $ 1 0 0 , 0 0 0

W . H A LLO W E L L , president
J O H N

G E O . T . N IC E , v ic e p re s id e n t

S . G A Y L E Y , C AS H I ER

J e N K I N T O W N ,P a .

H on.

W illia m
G. M cA doo,
S e c r e ta r y o f th e T rea su ry ,
W a sh in g to n , D . C .

P ear

S ir ;
The

banks

in

sp le n d e d

F h ila d e lx ^ h ia

s e r v ic e
im p e ls

ren d ered
to

a d d ress

Eecr.

2 7 th' 1 9 1 3 .

to

co u n try

banks

a

r e q u e st

to

you

by

th e

th a t

you

a rran ge
fo r th e
lo c a tio n
o f a F e d e r a l R e se r v e B ank in
P h ila d e lp h ia .
P h ila d e lp h ia
w as th e
o n ly
la r g e
e it y
in
th e
co u n try th a t
c o lle c te d
our fo r e ig n
ite m s f r e e ,
and th e y a ls o
very lib e r a l
in
th e ir
s e r v ic e
in
ev er y o th e r r e s p e c t.
The f a c i l i t i e s
th e y
h ave b een a p p r e c ia te d
by a l l
co u n try b an k s,
w ith
o th e r s in
u r g in g you
P h ila d e lp h ia .
I t
seem s to

to
u s

o r g a n is e
th a t th e

p la c e d
a t
our d is p o s a l
and w e, th e r e fo r e
jo in

a . F e d e r a l R e s e r v e i^ a n k i n
im p o r ta n c e
o f P h ila d e lp h ia

a s a fin a n c ia l c e n tr e
e n t i t le s
i t
to
th e
fa v o r a b le
c o n sid e r a tio n
o f y o u r c o m m itte e .
I f our R eserv e s w i l l have to
be
c a r r ie d
in
o th er
c i t i e s
in w i l l
lead
to
in c o n v e n ie n c e
and c o n f u s i o n .




lo u r s

very

t r u ly ,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

R O B T.
W.

L.

M c C l’

W IL S C

O U Q H ,
'ic e

C A P IT A L .

P res

P r es.

$ 1 2 5 ,0 0 0 .0 0

S U R P L U S
P R O F IT S

J

0 0 ,0 0 0 .0 0

JN O .

'

RO BT

.E V E G O O D ,
S E B R iN O ,

T reas
S ic -v

THE JERSEY SHORE TRUST COMPANY
SUCCESSORS TO
T h e

J e r s e y

S h o r e

.JER SEY

B a n k in g

SH O RE,

C o m p a n y

PA ,

Dec* 24, 1913*

Secretary of the Treasury,
Washington, D. C.
Dear Sir;:^

I:$ not inconsistent with your views in the matter*

we would very much like yot^to favor the designation of Philadelphia as
one of the federal reserve cities under the new Act just signed.
Thanking you in advance, we are,

*

J. W. L. 3 . 0. B.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

UNITED STATES Df

J . H A R R I S Me K I N N E Y ,
J.G .C A LV E R T,

V ice P r e s id e n t .

JO HNT. HYATT,

V ice P r e s id e n t.

The N a t i o n a l B a n k

SITORY.

P re s id e n t.

H. G. R O R A B A U G H ,
A. L. M O R R I S O N ,

of

J

C a s h ie r.

A sst. C a s h i e r .

ersey

S

hore

J e r s e y S h o r e ,Pa .E e e . 30> lgl3
Vrr. J. McAdoo,
S e c r e ta r y

o f

th e

T rea su ry ,

W a sh in g to n ,

D .

C.

: I i
I...............................

Bear Sir:
fe feel that under the new currency law it would
toe greatly to the advantage of banks located in this
section to have a federal reserve
CD

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A N S W E R S © of the establishment of a*bs«k dn
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L O C K BOXES FREE T O DEPOSITORS.
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PRESIDENT.

Ca
S

pit a l

u r p l u s

VICE-PRESID ENT.

TREASURER.

$ 1 2 5 ,0 0 0 ,0 0 .
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January

16th

Hon. William G. Me Adoo,
Secretary of the Treasury>,
Washington, D. C.
Dear Sir:The banking business of the State <*£ Pennsylvania
and adjacent territory wculd be greatly facjAitated by the
establishment in the City of Philadelphia pi a Fedecal Reserve
wss&Sm

Bank.
It has long been regarded as one of the conservative
banking centers of the east and this Bank, in ecmrao* with others
in the State, would be gratified it i t is so designated by
the Reserve Board Organisation Committee.




V e ry

tr u ly

y o u rs .

President.

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PRESIDENT

VICE-PRESIDENTS

CASHIER

AMOS H. HOFFMAN

SAMUEL N. ROOT
HARVEY W. MINNICH
ELIAS F. NOLT

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OF L A N D I S V I L L E .
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N? 4 3 0 .

C AP I TA L $ 1 0 0 . 0

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Y tM M P W /U M m x L R iu a L




F IR S T N A T IO N A L B A N K

F IR S T N A T IO N A L B A N K

Lansdale, Pa.

Lansdale, Pa.

S ta te D e p o s ita r y

B o r o u g h D e p o s ita r y

STATEMENT

U n it e d S ta t e s D e p o s it a r y f o r P o s t a l S a v in g s F u n d s

A t C lose o f Business, D ec. I I , 1913

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RESOURCES

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E . R. M U SS E L M A N , Ca s h ie r .

U .

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D IR E C T O R S
A. C. G o d s h a i x .................................................... . . . L/ansdale,
J. S. G e i g e r .............................................................
A. B. K r ie b e i , ............................................................
J. A. H e n d r i c k s ........................................... .... .
L. O. K r a Tz ............................................................. . . . H atfield,
S. A. M e t z .................................................................
W m . D . H e e b n e r ................................................
W. H . R o s e n b e r r y ...............................................
A mos H . S c h u l t z ................................................ . . . W orcester,
J o h n S w a r t i ^e y ........................................................
I r w in G. I / u k e n s ................................................
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th e S w r t U r y e f th a T re a s u ry ,
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L e m o t n e

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B. DAWSON ©OLEMAN




ident

EDWARD R. COLEMAN, Vice President

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THE LOCK
TRUST AND SA FE

HAVEN

DEPOSIT CO M PANY

LOCK HAVEN, P EN N A .
JACOB S C O T T , P R E S ID E N T
J.HOGAN FUWST, s e c ’y S T R E A S .
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C. H.DICKERMAN,President

G EO . C . C H A P IN , C a s h ie r
CHARTERED 1864

Deo. 26th

Hon* Wm. 0> MoAdoo)

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Seoretary of the Treasury, Washington, D* 0*
Dear Sir:-

X33 our opinion it would be a great mistake not to give Philadelphia

a Federal Reserve Bank.
The importance of Pennsylvania and Philadelphia is well known*

We

trust that no narrow seotional feeling will pre-vail in a matter of such impor­
tance, but that the common good will he considered.




Yours respectfully,

President*

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D. D. ROYER.

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J A C O B G. K U N K E L

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PRESIDENT
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r e g i o n a l

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a

t h e

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l a r g e

b a n k ,

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b e

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Jany 5. 1914

M o n t o u r s v i l l e
m ad e

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i t

p o i n t

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t e r r i t o r y .

R e s p e c t f u l l y .

D i r e c t o r s .

1x2 d >

Palj£

s o

Reproduced from the Unclassified / Declassified Holdings of the National Archives

i* lO N T O T J K S m iE ,P A .

T h e

H on

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A s

S 6

1 9 1 3 .

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t h e

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o f
d r a w in g

Reproduced from the Unclassified I Declassified Holdings of the National Archives

T h e

Fa k m e j t s
' N
. .J .

T

N a t io n a l B a n k
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am ,

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f

.

D e c *2

,1913

p

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Reproduced from the Unclassified / Declassified Holdings of the National Archives

THOM AS

J.

BROWN.

Pr e s id e n t




ACOB

S . C A R M A N Y . V.

Pr e s id e n t

M.

M.

BRUBAKER,

Ca s h ier

R. F E L L E N B A U M ,

667
U. S . DEPOSITORY

N a t io n a l
,000.00

B a n k

SURPLUS & PROFITS, $95,000.00
*'72

M O U N T JOY, PA., 2>so. 27, 1913,

Tho 8 to r o t« r y Of th e T re a s u ry ,
W ashington, D. C«
D ear S i r ; *
Perm i$ u s t o add our n a n t o th e l i s t of
th o s e who would u rg e th e s e l e c t i o n of P h ila d e lp h ia
a s a F e d e r a l R eserv e C ity u n d e r th e new o u rre n e y law ,
B eth i t s f i n a n o i a l and i n d u s t r i a l ia p o r ta n o s would
s e s n to u s t o r e q u ir e t h a t i t he made one o f th e
o e n te r s o f t h s new sy stem .
B e s p e o tf u lly ,
THS FIRST KATXOCTAL BASK OF MOTJHT JOY* PA.

P r e s id e n t ,

As s t . Ca s h ie r

Reproduced from the unclassified I Declassified Holdings of the National Archives

H.C.SCHOCK, p r e s id e n t .
.E.LO N G EN EC K ER . v ic e presi




H A R R Y N .N IS S L Y , CASHIER.
I.S.LO NG ENECKER, CASHIER e m e r it u s .

N o , 1516

Offe; C'-msl:'.,';-'SURPLUS

& P R O F IT S

$ 1 5 5 ,0 9 0
Or

/

?

7

/

3

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J O H N M. F R O E L IC H , p

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t r u l y ,

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p o s i t i o n

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*

a I
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J .F . S C H N E I D E R , V i c e

J '1-

J. E. BASTRESS,

P r e s id e n t

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Reproduced from the Unclassified / Declassified Holdings of the National Archives

G E O . E . B E-RN E R , C a s h ie r

C A M P , Vice PRES .

D A V ID

M . R IG h . £ R , P r e s .

T H O 'S

NO.8 3 9 3

M o u n t
THo

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s a t i s f a c t o r y

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o f

Pjk . J

C a r m el-,

r —

-:------------------------------------------------------------------------------------ —

— —

—

Reproduced from the Unclassified / Declassified Holdings of the National Archives

o

1902

J. E. BASTRESS,

P r e s id e n t

j . F.

SCH N E

ID

E R, V i c e

P re s id e n t

'X.
I

/

\

D e c e m b e r

C o m p t r o l l e r

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o f

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R e f e r l n g

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0*

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r e q u e s t

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c i t y

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w i t h

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Reproduced from the Unclassified I Declassified Holdings of the National Archives

She

National iBank,
Eatabltnlpeft 1 9 0 1
Cflapttai $ 5 0 ,0 0 0
S>urp itta # 5 0 .0 0 0

R. F. B a b p , P r k s id e s t .
J. J. M a x is , V ic k P b k s i d e n t .
A . E. F r a n t z , C a s h ie r .

Nazaretlj, Pa.,

December^ 29th 1913.

1

Mr. W. A. McADOO,
Wsehington, 1). C.

g

Dear S ir .
Inasmuch as P h ilad elp h ia i s one o f the la r g e s t c i t i e s in
fin a n o ia l importance we think i t should be s e le c te d as the lo c a tio n
o f a region al Reserve Bank. We hare always transacted the g reater p ortion
o f our b u sin ess through
Hoping

P h ilad elp h ia .

your committee

w i l l give i t favorable co n sid era tio n ,

We remain!




R esp ectfu lly yours,

C ashier.

Reproduced from the Unclassified / Declassified Holdings of the National Archives




ReproducedfromtheUnclassifiedIDeclassifiedHoldingsoftheNationalArchives




otfss't. Cashier.

■ i/'/r/f/ f /,..y h .,

^ J ___ ja ' j

C4/lJuAf*~

r 1" 1

------------------------ :-----------------------------------------------------------—
Reproduced from the Unclassified I Declassified Holdings of the National Archives

N e w

H o l l a n d
N ew

G E O .

O .

R O L A N D ,

N a t io n a l

B a n k

/

Ho l l a n d , P a .

P r e s id e n t .

G E O .

F .

B E S O R E ,

C

a s h ie r

.

Jan 7th, 1914.

W.G.McAdoo,Esq., Chairman,
Reserve Bank Organization Com.
Washington, D.C.
Dear S ir : I en close r e so lu tio n accepting the
P rovisions o f the Federal reserve a c t.
As P hilad elp h ia i s r e a lly the natural
reserve cen ter fo r Lancaster County, we are very
much in te r e ste d in seein g one o f the Regional BanKs
lo ca ted in th at C ity.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

E D W IN

R .

HAYS,

p r e s io e n t

.

N o . 6 0
J.

S. GRACEY,

CASHIER.

OFMKWTIIXE,PA.

•f t e g e n ib e r 2 6 , 1 9 1

As the D irectors of th is in s t it u t io n ar© in te n se ly
in te r e sted in the new Banking and Currency Law r e c e n tly signed
by our P resident we have taken tlie lib e r ty of addressing you
in the m atter of th e d esig n a tio n of tlie c it y of P h ilad elp h ia as one
o f tlie Federal He serve c i t i e s . We f e e l that on account o f tlie
lo c a tio n o f tlie above named c it y ; a lso i t s strong fin a n c ia l p o s itio n
among tlie leading banking centers o f tliis country, and because
tlie f i r s t n ational bank was lo ca ted in P h ilad elp h ia; a lso tlie f ir s t
custom house, that t: is c it y should be designated as a Federal
serve c ity ,a n d we sin c e r e ly tr u s t th a t you w i ll give the
matter your carefu l cons id era tio n . We are.




yours very t r u ly ,

r — '---------------------------------------- :------------------------------------------------ — — — —
Reproduced from the Unclassified I Declassified Holdings of the National Archives

PRESIDENT
PHAON W . B ITTN E R

VICE-PRESIDENTS

CASHIER

C . D. W ER LEY
ELMER J. BACHMAN
F. W . HA RTER

D. C. K E R S TE TT E R

\\




/tjfu /

December 27th 1913.

s/.Qs/

Hon. William 6, McAdoo,
Secretary o f the Treasury,
Washington, D. C.
Sir:
We beg you to consider the establishm ent
o f a Federal Reserve Bank in P h ilad elp h ia as i t
i s the most convenient c it y in the e n tir e s t a t e .
Hearly a l l o f the banks in t h is l o c a l it y
carry th e ir reserve accounts in the P h ila d e lp h1 fia
caeJI

/

3ank£and i t w i l l be very inconvenient and annoyttig ^ ^
|UL

i f P h ilad elp h ia does not g et a reserve bank.

cn

IjJ

The f a c i l i t i e s o f the P h ilad elp h ia bankl^

K)
: , si

Tt/)

are good and a l l r e la tio n s w ith them have proved2

mutually s a tis fa c to r y and we cannot see why a c i || L ,
th at occupies th ird p lace both in Bank Resources and
in Total D eposits i s not e n t it le d to a Federal bank.
Trusting you w i l l see your way c le a r to
grant P h ilad elp h ia a Federal bank, we are,
R esp ectfu lly yojirp ^
Cashi’ r.

1

;

$

6

^foRRiSTcmTc T
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a lb

a n d

k h h t

C

o m m i t

Main St r e e t s

MONTGOMERY EV A N S, President and Trust O fficer
ASHLEY P.HU N TE R ,Vice President.
FRANK S. YEAKLE .Secretary and Treasurer.
WALTER R. M OYER, Asst. Secy, and Asst.Treas.
GEORGE W. M A R C H , Real Estate Officer.

at fa A a ra l m r n m t Brnfla,

C w n ttte * fa r

/

a/* &w*retit^of tfco WeesfKF#
!%> **
'
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seU o tod fo r tfce l * a t i o » o f too o f th# tod*M fc

Wm&**

to ’
-c

tmder 13* net/ Cha-rcactf to z *

I t I t the thirst o l t f In j j p I * t l o & and third, In ’bcrUc reoouros* and deposits,

It he#

a gvoot o o llo o tlo a oontyo and Ixa* ^©ea noot lib e r a l to it # enstoaonu

It

liao oresy olaln for «t»k seleotioa that aay oth«r oity «oe*ptiii~ Her; Yotffc and Chlocao could

'JTS9*
%> #p®oiel jcrytfo fci «piti»s io that you say knew that it# claim# are

gn^pertot *y «ie BeaSoi aM frott Qks^eaiioo 'beyond Its IJtalt* and doing fcarittas Twine**
with it#




ifcigr ro^otfifcJy*

p——------ -

---------- —J

Reproduced from the Unclassified / Declassified Holdings of the National Archives

ADAM

S C H E ID T ,

C.

J . T. E B E R T ,
SECRETARY.

)£ R F E R ,

8

P R E S . . TR EAS.

P R E S ID E N T .

H .M .C A S S r
a s s 't

se

W M .F . DA N N E H O W E R ,

1

s o u C TO R .

?e a s ,

P e m t T r u s t Co m p a n y
C o r .M a in

and

S w e d e St r e e t s .

D ee.30,1913 .

A

organizing R egional Banks,
ton, D.C.

In considering the d iffe r e n t c i t i e s fo r lo c a tin g Region­
a l Reserve Banks, we beg to urge you to g iv e P h ila d elp h ia favorable
consideration*
P h ila d elp h ia i s the second c i t y in the country in p oin t
o f aggregate banking resou rces, and i s the th ir d in c a p ita l in v ested
in manufacturing and the valu e o f the products.

The c i t y has been

recognized as the fin a n c ia l cen tre from th e beginning o f the n a tio n ,
and i s the home o f the o ld e st bank in the U nited S ta te s .

I t has

more reserve accounts at present than any c i t y o u tsid e o f New York
and Chicago.
The a g r ic u ltu r a l, manufacturing, commercial, mining and
tra n sp o rta tio n in t e r e s t s o f Pennsylvania, centre in P h ila d elp h ia ,
and as a fin a n c ia l cen tre i t i s segregated from New York C ity to a
fa r g reater extent than i s suggested by the n inety m iles o f d ista n c e
intervening between the two c i t i e s .
.... ... ........Jte^fcruaiuyou w i l l g iv e P h ila d elp h ia the co n sid era tio n
iA N ^ W F R F D l
I

(Diet,*,) V;




* 1914
^ < 1 /

»

Yours very tr u ly ,

\
7 VICE PRSSIBHIT.

Reproduced from the Unclassified / Declassified Holdings of the National Archives




Secretary of the Treasury*
Washington, D. 0.
Dear Siri
We T>eg to go on record as favoring the establish*
aent of one of the sew regional reserve basks In the City of
Philadelphia* end our reason for favoring the sane Is on ac­
count of the olose business relations that exist between on?
section of the counrty and the 01 ty of Philadelphia; and we
feel tha$ ff* banks particularly in this region the best ser­
vice would be given. and hope the Organisation Coanlttee ma#
see their wsyclear to establish a bariK: at Philadelphia.
Very t

A N S W E R E D )

JAN 7

1914

I

Reproduced from the Unclassified / Declassified Holdings of the National Archives

H. S. Albright, President

Geo* C Diefenderfer, Vice President

Geo. W. Garrett, Cashier

December 24th, 1913.
_________________________________ ______

v

\

H o n l . W. G. M c A d @ @ ,
Secretary ©f the Treasury,

.>v'- ', ""

Washington, D. C.

•’

Dear Sir;-

M n d l y permit u» te add @ur feeble plea, in behalf ©f
* Philadelphia, Pa. as a Federal Reserve City.
May not its Billion Dollars Resources, its many years of censevative
banking metheds, make its appeal?




Respectfully y©urs,
First Natienal Bank of Orwigsburg, Pa.
by

^

Cashier.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

W M . H . S A N D F O R D , P r e s id e n t

G E O . S . G O O D , V ic e P r e s i d e n t

CAPITAL

$ 10 0, 0 0 0 . 0 0

S . B. H E W L E T T , C a s h ie r

SURPLUS

$50,000.00

la n k

MxxBt
E S T A B L IS H E D

1893

flatton, ffiomhria do., Pa.
Hon. w. D. ltcAdoo,

nee. 21+, 1913.
..- - ; r ,

Secretary of tne Treasury,

.
‘

' ..a ♦ ..* £

'*

*; i• ”
•,1**,'

Washington, D. c.
Sir:
If business and commercial rather than geographical
re a s o n s are to control ir. tlie selection of the federal Reserve
Cities under tlie new currency hill, it wo u l d seera to

me that

Pe n n s ylvania is entitled to one of the Reserve BanKs,, and
that it should he located in the City of Philadelphia,
and I respectfully as & that in the d e t e rmining of this
m a t t e r tgr- the Original He serve or organization "board
that due consideration he given to the claims of the city of
Ph i l a delphia and tlie entire State in the determining of this
important matter*




Veiy respect

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Hon, Wm. G. Me Adoo,
Secy. Treasury,
Washington, D, C,
H o n o r a b l e Sir:As the n e w currency b i l l provides for eight reserve
points i n the united states, I desire to impress y o u w i t h the
fact, that P h i l a d e l p h i a thro u g h its natural location and bus­
iness interests, should be named as one of these reserve banics.
The city of P h i l a d e l p h i a as y o u no doubt are aware,
occupies third place b o t h in banic reserves and deposits and to
our m inds is w h o l l y qualified for a reserve banic.
Hoping y o u w i l l give this matter the attention it di­
serves, I remain




Respectfully yours.

r —---------------------------------------------------------------------------------------------— ----------Reproduced from the Unclassified / Declassified Holdings of the National Archives

Dec. 27, 1913

Committee for organizing Beginal B a n k f f
c/o Secretary of the Treasury,
Washington, D. C.
G entlemen :**
We w i s h to call y o u r attention to the superior
a dvantages of loc ating one of the Regional Reserve Banks
in Philadelphia.
This city has long proven itself to be the
natural reserve city for all of the Banks in this region*
They collect at least 90 % of our out of town collections
and we believe the decided advantages this city posseses
wo uld make it eminently fitted for a reserve bank.
We hope y o u will give this your serious consideration and will see your way clear to make this city
a reserve for this region.




Very truly yours,

ReproducedfromtheUnclassified/DeclassifiedHoldingsoftheNationalArchives

,

V^

U O.U,?

S/m 0M 00

W

U/^ f
3ffyO'?rui/j
December 37,1913.
Hon. William G.Mcadoo,Secretary of The Treas.,
Washington, D. C.
M y Dear S i r ;
We are informed that shortly it will be decided which Cities
are to be designated

as Federal "Reserve Banks.

Therefore,we address you in the interest of Philadelph i a Banks,
from the fact that we are in close p r o ximity to Philadelphia,hence we feel
that Phila d e lphia should be favored with

a Federal 'Reserve Bank,at least,

Penn s y l v a n i a should be favored with a R e s erve Bank,and we know of no other
strength
City w i t h greater resources a n d finaneial^than Philadelphia,and heartly
r e c o m m e n d a n d ask that this City be designated as a Reserve Bank. We are,




Very respectfully yours,

Cashier.
~'i-. .. ✓

!L

........

■;?-o m i . \

s

*3.

(a n s w e r e d !

Reproduced from the Unclassified / Declassified Holdings of the National Archives

HPW*

February 25, 1924*

Sirs
S e c r e ta r y HcAdoo

fca#

aalced

that

I ackn o w led g e

the receipt of yoar letter of February
that yon %e advised that

21st,

and

ytmr argument In favor of

the location of a Federal Reserve Beak at Philadelphia
w ill

be considered by the

upon

the locations for the




C o E w itte e
s e v e re !

when It is deciding
Federal Reeorre

Banks to be established*
Eeepootfttlly*

S e o re tc jry
B e s e rv e B ank O r g a n is a tio n C o m a itte e *

*2r* A* H. (J
1ones9

,5th & Chestnnt street*,
Philadelphia, Pennsylvania*

Reproduced from the Unclassified / Declassified Holdings of the National Archives

\

Hon, W, G, Mo Adoo,

Fifth & Chbotnut Sts.,
Philadelphia, Pa,
February 21, 1914.

Chairman,

Federal Reserve Bank Organization Committee
W a s h i n g t o n ,
Dear Sir:-

D. C,

FE8 251914

We understand your Committee will very soon take -up -for- firtal con­
sideration the location of the several Regional Banks as provided by the
Federal Reserve Act,

We are confident that it is your purpose to weigh

carefully every phase of the question and to designate such cities as will
best serve the interests of entire country, and not to disturb more than is
absolutely necessary the long established course of legitimate trade.

We

are equally certain that you will not intentionally favor any city whose
chief claim for recognition is moneyed preponderance, due to the reserve
requirements of the National Bank Act which is now superseded.
In drawing your attention to Philadelphia as a point where we
think a Federal Reserve Bank might properly be located, it is with the hope
that we may cite such facts as will tend to establish in the minds of your
Committee, the commercial as well as the financial importance of the City.
The most recent statistics compiled on the subject would indicate that the
value

of real estate, with improvements, devoted entirely to manufacture in

Philadelphia, is in excess of Five Hundred Million Dollars ($500,000,000),
the valu

ied by the employees of these establishments is

another

Dollars ($500,000,000), so we have an invest-

ment of practically One Thousand Million Dollars (|l,000,000,000) directly
dependent upon the conversion of raw material into manufactured products.
Recent estimates indicate that twelve of the leading lines of manufacture
in this city, such as carpets, clothing, hosiery, leather,

cotton goods,

iron and steel products, etc., engage the daily labor of upwards of 150,000
persons, and have an annual output in excess of Three Hundred and Fifty
Million Dollars ($350,000,000), with a total output from all manufactures




Reproduced from the Unclassified I Declassified Holdings of the National Archives

-2of about light Hundred Million Dollars ($800,000,000).
As Philadelphia manufacture# a wider range of articles than any other
city it is the greatest commercial factor in the United States, in that its
merchants go to more sources for raw material as buyers, and reach more distribut­
ing centers as sellers of manufactured products than those of any other city.
a

As

consequence Philadelphia starts a greater variety of commercial transactions

and in a greater number of localities than any other commercial center in America.
Of the two hundred and sixty four lines of manufacture recognized by the United
States Census, two immdred and eleven of them are manufactured in Philadelphia
in such volume as to warrant tabulation.
The wool is brought here direct from the back of the sheep, cotton
from the gin, hides from the packer - all to be converted into the finished
product ready to be put into use.

In fact no raw materials are brought here

merely as speculative products or gambling counters.
The most recent statement of the National Banks of the Gity showed
total resources of approximately Four Hundred and Forty Million Dollars
(|440,000,000), more than one half of which was in "Loans and Discounts,”
which, in a large measure, represent loans to the commercial interests,
while investment in bonds

and securities was but

of the whole, and out

of a total investment of Two Hundred and Eighty Million Dollars (|280,000,000),
which includes United States Bonds and Banking Houses, Two Hundred and Twenty
Three Million Dollars ($223,000,000) was represented in the above mentioned
item of ’
’
Loans and Discounts.”
The Boards of Directors of the banks of this city are largely made
up of its best merchants.

As a result these institutions have the benefit

of receiving the judgment and keen business foresight of men trained in all
commercial lines.

The value of their judgment in passing on the extension

of commercial credits can hadly be estimated, nor can we estimate the advan­
tage to the commercial community of the interest of these men in commercial
affairs.

§
There will be established under this new system a new currency whisk,

while it has behind it gold, if it is to prove useful will rest largely upon




f
Reproduced from the Unclassified I Declassified Holdings of the National Archives

-3 -

publio confidence.

It is justly claimed that the very name "Philadelphia”

is a synonym for integrity and stability, for solvency and reality, for something
which is continuing and which can be trusted.

As an evidence of this feeling

among our citizens we need only mention that in May last Four Million Dollars
($4,000,000) 4$ Bonds of the City of Philadelphia were purchased by small individ­
ual investors at par over the counter at the office of the City Treasurer within
the space of six days, while a similar effort on the part of a large city in the
middle west resulted in the sale of but Twenty Thousand Dollars ($20,000) of its
bonds.
To make Philadelphia a part of a District with the Regional Bank
located in another city, we think, would result in establishing a Federal
Reserve Bank of a size far out of proportion to anything in the minds of the
framers of the bill or your Committee, and might tend to increase the accumu­
lation of large sums of money in one centre, which tendency we feel the new
act aims to correct.
We hope, furthermore, that your Committee will also consider that
feature which has always been a popular ideal of the people of this City and
State, namely thrift.

Immense wealth has been accumulated here for rein­

vestment even beyond the limits of the State.

These re-investments have been

made in all parts of the country, giving the city direct business relations,
from an investor's point of view, with every part of the Republic.

One

Saving Fund in this City holds One Hundred and Thirteen Million Dollars
($113,000,000) worth of deposits, the property of Two Hundred and Eighty
Six Thousand (286,000) depositors;

and illustrating the value of thrift and

its long continued praotice is the fact that this one institution has paid
to its depositors over Fifty Two Million Dollars ($52,000,000) in interest
on deposits.
We hope your Committee will carefully consider the facts herein
quoted, and that your decision will be to place a Regional Reserve Bank in
Philadelphia.




Very respectfully yours,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

i
i

DIRECTORS
A. LincolnAcker
John E, Baird
Edward F. Beale
Charles M. Biddle
Charles E. Cattell
CyrusH. K. Curtis
Samuel M. Curwen
Thomas Devlin
Powell Evan*

Harry B. Fwnch
Frank Gould
L. G. Graff
John E. Hanifen
Tho.. B. HarbUon
Wm. O. Hempstead
Walter Horstmann
E. C. Irvin
J. T. Jackson

|

1 11

l
1

'

l

1
I

PHILADELPHIA
CHAMBER OF COMMERCE
211 BOURSE BUILDING

1 1

N. B. KELLY.

*

1

I
CT

David P. Leas
Lewk J. Levick
Walter P. Miller

William B. Riley
Coleman Sdlen, Jr.
Franklin Smedley
LSullivan
Try<mi
QudnBJ/audian

t t t t f f e ! It.
A. C. McGowin

j.a-wfar

hfciey
ood

M I M I I R OP
C H A M B E R OP C O M M K ItC I OP T H E U N IT C O S T A T E S O P A M E R IC A
N A T IO N A L H IA D Q U A R T C R f
R IO O S B U IIO IN O * W A S H IN G T O N . Dt C.

FreightCommluiontr




DIRECTORS

&IQ JspB^mS^tem, Jr.

Philadelphia, March 18,1914*

Honorable Woodrow Wilson,
President of the United States of America,
Washington, D.C.
Sir;In a recent article published in one of the daily napers
of the City of Philadelphia, is a statement to the effect that
the report has gained currency in this City that we will not be
given a Federal Reserve Bank*

One of the reasons alleged is

that the mercantile interests of this City are indifferent as
to the location of a Federal Reserve Bank in this City.

The

Board of Directors of the Philadelphia Chamber of Commerce sin­
cerely hope that the officers of the government will execute the
law in accordance with paragraph reading as follows;"That the districts shall be apportioned
with due regard to the convenience and customary course
of business and shall not necessarily be coterminous with
any State or States,”
As for the statement that the mercantile commu­
nity is indifferent to this subject, I would respectfully refer
you to our communication of January 9,1914, sent to the Clearing
House Association of the City of Philadelphia, which reads as
follows:-

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Hon. W. V;, - Sheet #2 - 3/18/14

“
It is the opinion of the Board of Direc­
tors of the Philadelphia Chamber of Commerce that Phil­
adelphia is entitled to have a Regional Reserve Bank.
This city is the first in manufacturing, is the second
in banking resources, is the third in population, and
is one of the most important in the issue of commercial
paper and in the holding of reserves for country banks*
Philadelphia is the central and natural banking head
of one of the most populous and richest sections in the
United States*
For these and other reasons a Federal
Reserve Bank shqu\d be located here if the plain mandate
of the law isf
carried into effect* That passage
of the law reading:•That the districts shall be apportioned
with due regard to the convenience and custo­
mary course of business and shall not necessarily
be coterminous with any State or States* *
Should leave no question as to the legal nec­
essity of establishing a Federal Reserve Bank in our City*
The question of a Federal Reserve Bank is not,
in our opinion, merely a banking question but is a ques­
tion of financial interest that affects every class in
the community* We have been informed, however, that
the Secretary of the Treasury has stated that he prefers
he should be visited only by delegations of bankers,
as he desires to come to a decision for the apportion­
ment of Federal Reserve Banks on the basis of banking
facilities and necessities, and in view of this statement
the Philadelphia Chamber of Commerce will not take any
action further than this expression of its opinion, be­
cause of the confidence it has that the representative
bankers of this city will see to it that tho necessities
and the needs of our city are taken care of and that our
just demands shall be accepted*
It is voted that a copy of this expression of
opinion shall be sent to the Clearing House Association
of Philadelphia and to the Press *M
The Philadelphia Chamber of Commerce has a membership of
twenty-five hundred and represents the leading financial, manufac­
turing, business and other interests of the City of Philadelphia.
If the officials of the Government have any doubt as to the earnest­
ness of their purpose in asking the establishment of a Federal Re­
serve Bank in the City of Philadelphia and wish to have ocular




Reproduced from the Unclassified I Declassified Holdings of the National Archives




Hon . * Y=. - Sheet #3 - 3/18/14

demonstration of this desire, the Chamber of Commerce will gladly
take to Washington a committee representing fully all the great
and varied interests of the City of Philadelphia, and furthermore,
the Board of Directors promise that this representation from the
City of Philadelphia, in the interest of the proper execution
of the law in the establishment of a Federal Reserve Bank in this
City, will be of such a character as will justify the statements
and the claims made in behalf of the City pf Philadelphia by our
representative bankers.
I would request that this communication be referred
to the Secretary of the Treasury*
Very truly yours.

Secretary*

ReproducedfromtheUnclassified/DeclassifiedHoldingsoftheNationalArchives

F O

P r e s id e n t,

1S T
2D

W I L L . IA M

j .

G

F

R E A T E R ,

B R I G

H

T E R

A N

D

B E T T E R

A .

D R U M M O N D
G . B A N N E R

F R A N K

V IC E

P R E S .

E D W IN

N O P P E U

H .

C H A R L E S

T r e a s u r e r ,

h a v e s

R .

M .

S . W ,

H . v o n T A G E N

y , W IL .I_ .IA M

R IC H A R D
G U S T A V E

F IS L E R

J.

D E C O S T A

W M .

R .

Uusmess

H .

F O S T E R

L IP

8C H

U T Z

H . G L E A S O N
H . V A R N IC K

C . E . T O B IA S

S A U E R S

b o y n e

Wnxtvb

I A

G R IE R

C H A R L E S

H O R N

. P H

limtora

E D W A R D

F in a n c ia l. S e c

f

3

PR E S .

S e c r e t a r y ,

I L A

< . L IN D E S

V IC E

A .

P H

l_ . H O L M E

Aaaoriattott

of

C H A R L E S

H .

V O N T A G E N

S E C R E TA R Y

2B

th

a b o v e

L e h ig h

1914.

A v e .

Hon. William McA&oo.
/Secretary of the x^asury,
Washington, Jf.C.
Dear Sir:-

EnclosoJ^you will please find eopy\u
relative to the ^Gtablishment of a regional ha
of Philadelphia.

At the last regular meeting of the United Business
Men's Association of Philadelphia, the said resolutions were
unanimously endorsed and I was instructed to notify you of
such action.
Our association, comprising representatives of
approximately ten thousand business men of Philadelphia sin­
cerely hope that our City will receive one of the regional banks
about to be established and taking into considertaion the stand­
ing of our city in the financial world, it's traditions and history
we cannot see why there should be a question concerning the estab­
lishment of said bank.
Hoping that you will seriouly consider the above
which is the wish of*£greater number of the business men of




A D

D

R

E

S S

A

L L

C

O

M

M

U

N

I C

A T I O

N

S

T O

T H

E

S E

C

R

E T A R

Y

Reproduced from the Unclassified I Declassified Holdings of the National Archives

.(c o p y )
<_
B E If RESOLVED:- That we, The United Business M e n !s Association

of Philadelphia, an association with a membership of forty-five
■
* ^ seperate bodies., comprising approximately ten thousand business
m e n of the City of Philadelphia hereby heartily endorse the plea

-

that Hr. Levi L. Rue, of the .Philadelphia Clearing House presented
to your Honorable body.

W b feel that in the statement so ably prer

sented to your committee 370U will recognize the claims of Phila­
delphia as a location for one of the proposed regional banks.
THEREFORE BE IT F U R T H E R RESOLVED:- that we business men of the City

of Philadelphia hereby request your worthy committe to designate
the City of Philadelphia as the location for one of the said banks.




m
j

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Busm<js0
or F hiiiadeuphia

CUtb

January 38th. 1914
The Reserve Bank Organization Committee
Washington, D. C.
Gentlemen:I- am requested to advise you of the following re
solutions, adopted at the Board of D i r e c t o r s 1 Meeting on January
21st. 1914.
"Whereas under the Currency Act recently passed by
Congress,

the Reserve Bank Organization Committee is authorized to

name the Cities in w h i c h Regional Banks are to be established,
Therefore be it resolved that the Business Science Clum, an organizat­
ion of 400 business men of the City of P h i l a de l p h i a / urge upon the
Reserve Bank Organization Committee the necessity and importance of
e s t a b lishing a Regional Bank in the City of Philadelphia - the third
City of our Country - the City of Robert Morris - Stephen Girard and
Jay Cooke, who served the country well in times of financial stress.
Be it resolved that copies of these resolutions be
sent to Mr. Levi L. Rue of the Philadelphia National Bank, and to
C o n g r e s s man A. Mitchell P a l m e r ”.




. ■■

'

— -

■

Reproduced from the Unclassified / Declassified Holdings of the National Archives

A N TO N IO SAN S, P r e s i d e n t
J O S E P H W. B EA TTY, T r e a s u r e r
F R A N K E. M A R S H A LL , S e c r e t a r y

December 1, iSl-^

D

A

Dear Sir:-

If

As President of The OoOTa&rcial Exchange off Philadelphia, I have the
honov to submit for your consideration the following Resolution of the said
Exchange, by its Board of Directors, at a special meeting this dpy, and request
that you will give your support to the selection of Philadelphia as one of the
regional reserve cities to be named in connection with the pending currency
legislation, either in the measure or by the Federal Reserve Board that is to
be created:
* Resolved, that The Commercial Exchange of Philadelphia would respectfully urge upon the legislative chambers of the national government that by
reason of its financial strength, as the third largest city in the United States
in the volume of its bank deposits, and with practically one billion dollars of
banking resources at command; as the reliance of populous and important smaller
communities for*both banking facilities and monetary guidance; the hub of an
extensive and prosperous agricultural area; the center of a great manufacturing
and commercial district; historically identified with great banking operations
and conspicuous for ability to handle them and for having conducted vast enter­
prises to successful conclusions; and for other reasons which need not be
enumerated in this Resolution but which are readily demonstrated, the claim of
Philadelphia is paramount to that of the majority of American cities; and it is
most earnestly hoped that whether the reserve centers be named in the legislation




Reproduced from the Unclassified I Declassified Holdings of the National Archives

page 2,

12/1/13

or are to be chosen by the Board to be created, neither one nor the other
method shall prevent Philadelphia from being selected as one of the regional
reserve centers under the new federal law."




Respectfully,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

POSTAL

TELEGRAPH-CABLE
N I G H T

COMPANY

L E T T E R G R A M

n

n

n
n

THE POSTAL. TE LEG RAPH-C ABLE COMPANY (INCORPORATED) TRANSMITS AND DELIVERS TH IS NIGHT LETTERGRAM SUBJECT TO THE
TERMS AND CONDITIONS PRINTED ON THE BACK OF THIS BLANK.
C L A R E N C E H . M A C K A Y , PRESIDENT.
R E C E IV E D

INDEPENDENT
4-383

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P, 62

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DfMVeRY^IUMBER
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HON D F HOUSTON
Of
WE HOPE YOU Wl LL FAVOR

AGRICULTURE

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ALL

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PH I LADA TERRI TORY WE

PH I LAD A AG RI CULTURAL ' C E N T E R ' FOR

TH IS SECT ION HOPE


REGiam
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A NY ST AT E NEWJ ERSEY

DELAJ ^RE O U T S I D E WILMINGTON

MARYLAND ALL S T R l C f t Y - AGRICULTURAL OF
INTERESTED

WASHN DC

PH IL. ADA AS A REG 10 NAL * RESERVE C ENT ES

PENNA HAS L A R G E S ^ ' RURAL P OPliLAT I ON

FOR T HE S UP P ORT > AND

G IVE THE

MOVEI' e n T .

D

PROGRESSIVE

P R E S T I G E THAT

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Reproduced from the Unclassified I Declassified Holdings of the National Archives

\ POSTAL
L
S

p

i

g H

TELEGRAPH-CABLE
N I G H T

DiINDEPENDENT

R E C E IV E D

A X

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L E T T E R G R A M

THE POSTAL TELEGRAPH-CABLE COMPANY (INCORPORATED) TRANSMITS AND DELIVERS TH IS NIGHT LETTERGRAM SUBJECT TO THK
TERMS AND CONDITIONS PRINTED ON THETSACK OF THIS BLANK.
C L A R E N C E H . M A C K A Y , PRESIDENT.

^

i

COMPANY

p r e s i d e n t c o .rn e x c h a n g e : n a t l

m e
bank

Reproduced from the Unclassified I Declassified Holdings of the National Archives

J

N9 213.

&0.O0&

A
\\

■
s

^V X F R A N K F O R D .

f a / 9ac. 27th, 1913.

Honorable Wm. G. MoAdoo,
Seoretary of the Treasury,
Washington, *).C.
^ear Sir:
In selecting the cities for the Federal Reserve Banks
we would respectfully request that you give the claims of Phila­
delphia consideration.

It i3 of the greatest importance not only

to this city and our immediate surroundings, tout to the banks in
other cities throughout the country, at present using this city
ft!

or s

iti
:>

*

C/)

:?

<

is a reserve centre.
Philadelphia stands third in hanking resources and depos­
its, and it would seem that these facts alone would entitle it to
he named.

The first National Bank was established here, and so

much of the Nation’
s history had its birth in this city that in
the birth of a new system of barking it would seem fitting that
Philadelphia's claima should

be recognized.

We would therefore

urge, for historical as well as commercial necessities, that you
locate a Federal Reserve Bank in Philadelphia.




y

Trusting that this request will meet with favor, we are,
Very sincerely yours,

p*"— ----------------------------- ---------------------------------------------------— — ——
-----Reproduced from the Unclassified / Declassified Holdings of the National Archives

C

CHAS. S. CALWELt,

o r n

Ex

c h a n g e

N

ational

B

a n k

president

M.N.WILLITS, JR., VICE PRESIDENT
THOS.J. JEFFRIES, vice

Philadelphia

president

NEWTON W.CORSON,cashier
ALLEN M.MATTHEWS,asst,

her 27th,

1913.

cashier

p

f

r

I OB* Dm F« HOQltOfi)

Secretary of Agriculture,
feshlagton, D* C.
S tar S ir * -

l wired you last night expressing the hope that 70m
would ffcror Philadelphia at a Regional Reserve City, on aocotmt
of the largo agricultural interests surrounding tills city.
X do not know If you have bad It brosgfrt to your atten­
tion, bx& tills ban* is Tory araeh interested In developing
Philadelphia's Interest in agriculture, and in helping to Improve
conditions all through this agricultural section, which, as you

know, is one of the richest la the United States, ft expect to
have a meeting on the eighth of January at this bank of representa­
tives of the agricultural colleges, trades bodies, railroads and
shippers, to formulate a plan for an agricultural bureau, to be
located in this oity*

All of Pennsylvania east of the Allegheny

Mountains; all of Hew Jersey south of Hfwarfc; the whole State of
Delaware, and the eastern Shore of Maryland, look to Philadelphia
as their oentre, and 1 hope that you will use your influence to Have
a Regional Reserve Bank located here*




•K.

Very truly yours,
'o l

B

M 8M B B R S

r

o

O F

o

k

e

TH B

,

S

t o

k

e

&.

s

P K IL A D B L P H T A

C

STO OK

o .

BXC K A N O B .

F if t e e n t h

a n d

"W a l h o t

S t r e e t s

JAN 171914
January 16, 1914
D a v i d ]?. Soucrton, Esq., Secy, of Agriculture
Washington, D. G.
D e a r Sir:
We w i s h to impress upon you the serious importance of the l o ­
cation of a regional reserve b a n k in ?hi ~|n rtn171Ini n

The city, as y o u

w e l l know, is the third largest in the United States in total b a n king
reserves, p o p u l a t i o n and net deposits of national banks.

While this

alone w o u l d s e e m sufficient reason, Philadelphia, as a manufa c t u r i n g
city, needs as m u c h encouragement in that and in its general business
lines as a n y other part of the country*

A very considerable effort

has b e e n noticable on the part of the government for some time, a n d
it is wise and most commendable, in the encouragement of the f a rmer by
a s s i s t a nce t h r ough the Depa r t m e n t of Agriculture and also to assist
his f i nancing h y increasing the facilities for rural loans.

We feel

that this beneficent assistance should be extended to all lines of
business, for, as all the various lines of business prosper, so w i l l
be the prosperity of the country at large.
The M a n a g e r of one of the P h i l a d e l p h i a textile mills told the
a u t h o r he had seen a v e r y large cotton crop going to waste in the fieldb
of the S o u t h when he was visiting that territory, simply because the
m a n u f a c t u r i n g and jobbing centres were so depressed they could not
u t i l i z e the cotton.




Simi l a r conditions could likewise affect other

Reproduced from the Unclassified/ Declassified Holdings of the National Archives

-2 products.

Accordingly, business conditions must be w e l l bal a n c e d

in order to be the greatest benefit to the greatest number-*
The population of Philadelphia is g r e a t e r than m a n y of the
entire western States*

It has been generally accepted as best b u s i ­

ness policy to locate offices in the immediate vicinity of wh e r e the
greatest amount of business be i n g sought w a s transacted.

W o u l d this

not also hold in this case?
Again, P h i l a d e l p h i a is one of the most conservative and
s t a b l e cities in the country.
in its banking business.

The spirit of a c o m m unity is imbued

Hence, would not this be of some value in

affec t i ng those who, thro u g h the personnel of the regional b a n k
management, are carrying out a new system, the results of w h i c h w i l l
be either v e r y beneficial or seriously detrimental to the Am e r i c a n
people, depending upon the skill and care of the management o f the
regional reserve banks.
Philadelphia believes she is entitled to a regional reserve
b a n k and that this w i l l be a benefit to the city and country at large.
Trusting that this w i l l meet w i t h your careful consideration,
V e r y truly yours,
V v ''

FMB/H




Reproduced from the Unclassified / Declassified Holdings of the National Archives

§m w m $ if*.

$Qf# rlPftQAiS

m* BfOO«l|
llth and vjtiimt 3fcre«t«t
Bi*

'Dtit 8ls»t
I m im ^

lflti3 r i f

it *?«§£&s&!t f « H W tAufe l»
uniter will %© given du«




tmp tful^ * « r » f

$3ut

Bn*

-------------------------------------------------- v "1" - " »il
Reproduced from the Unclassified/ Declassified Holdings of the National Archives

B r o o k e ,

S t o k e s

A fS J p Q

BANKERS
M SM BERB

F R A N C IS
JO H N

T H E

P K IL A D B IjP H

M . B B O O K E

W E L S H

P H IL IP

O r

i f

S T O K E S

B . F IS H E R

/ b b n t h

a n d

"W A iiir o T

S t r e e t s

P H IL A D E L P H IA

\f

Wm. G. McAdoo, Ksq.., Secy, of the (Treasury!,

January 15, 1914#

Washington, D. C.
B e a r Sir:
We w i s h to impress u p o n y o u the serious importance of the l o ­
cation of a regional reserve h a n k in Philadelphia.

The city, as y o u

we l l know, is the third largest in the United States in total banking
reserves, population and net deposits of national hanks.

While this

alone w o u l d seem sufficient reason, Philadelphia, as a manufactu r i n g
city, needs as m u c h encouragement in that and in its general busin e s s
lines as any other part of the country.

A very considerable effort

has been notica ble on the part of the government for some time, and it
is w i s e and most commendable, in the encouragement of the farmer by
assistance through the Department of A g r iculture and also to assist
his financing b y increasing the facilities for rural loans.

We feel

that this ben eficent assistance should be extended to all lines of
business, for, as all the various lines of business prosper, so w i l l
be the p r os p e r i t y of the country at large.
The Manager of one of the P h i l adelphia textile mills told the
author he had seen a very large cotton crop going to waste in the fields
of the S o u t h when he was visiting that territory, simply because the
m a n u f a c t u r i n g and jobbing centres
u t i l i z e the cotton.
ducts.

er to be


were so depressed they could not

Similar conditions could likewise affect other p r o ­

Accordingly, business conditions must be w e l l b a l anced in o r d ­
the greatest benefit to the greatest number.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

-2 **
The p o p u lation of Phi l a d e l p h i a is g r e ater than many of the
entire w e s t e r n States.

It has been generally accepted as best b u s i ­

ness p o l i c y to locate offices in the immediate vicinity of where the
g r e a t e s t amount of busin e s s being sought w a s transacted.

Would this

n o t also hold in this case?
Again, Ph i l a d e l p h i a is one of the most conservative and
stable cities in the country.

The spirit of a coniraunity is. imbued in

its banking business.

Hence, would not this be of some value in
-\
a f f e c t i n g those who, through the per s o n n e l of the regional b a n k m a n a g e ­
ment, are carrying out a new system, the results of w h i c h w i l l b e either
v e r y b e n eficial or seriously detrimental to the American people, d e p e n d ­
ing u p o n the skill and care of the management of the regional reserve
banks.
P h i l a d e l p h i a believes she is entitled to a regional reserve
b a n k and that this w i l l be a benefit to the city and country at large.
Trusting that this w i l l meet w i t h your careful consideration,
Very truly yours,

KEB/H




Reproduced from the Unclassified / Declassified Holdings of the National Archives

Bear Sir:
Y/e wish to impress upon you the serious importance of the
location of a regional reserve bank in Philad elphia.

Che city, as you

well know, is the third largest in the United States in total banking
reserves, population and net deposits of national banks.

While this

alone would seem sufficient reason, Philadelphia, as a manufacturing
city, needs as much encouragement in that and in its general business
lines as any other part of the country.

A very considerable effort

has been noticable on the part of the government for some time, and
it is wise and most commendable, in the encouragenent of tne farmer
by assistance through the Department of Agriculture and also to assist
his financing by increasing the facilities for rural loans.

We feel

that this beneficent assistance should be extended to all lines of
business, for, as all the various lines of business prosper, so will
be the prosperity of the country at large.
The Ilanrger of one of the Philadelphia textile mills told
e author that he had seen a very large cotton crop going to waste
xn^the “fields of the South when he was visiting that territory, sim­
ply because the manufacturing and jobbing centres were so depressed
they could not utilize the cotton.




Similar conditions could likewise

Reproduced from the Unclassified I Declassified Holdings of the National Archives

John Skelton Williams, Ksq_. ;
affect other products.

Accordingly, business conditions must be

well balanced In order to be the greatest benefit to the greatest
numb e r .
The population of Philadelphia is greater than many of the
entire western States.

It has been generally accepted as best b u s i ­

ness policy t<£ locate offices in the immediate vicinity of where the
greatest amount of business being sought was being transacted.

Would

this not also hold In this case?
Again, Philadelphia is one of the most conservative and
stable cities in the country.
In Its banking business.
affecting those

The spirit of a community is imbued

Hence, would not this be of some value in

who, through the personnel of the regional bank

management, are carrying out a new system, the results of which will
be either very beneficial or seriously detrimental to the American
people*, depending upon-the skill and care of the management of the
regional reserve banks.
Philadelphia believes she is entitled to a regional reserve
bank and that this will be a benefit to the city and country at large,




Trusting this will meet with your careful consideration,
Very truly yours ,

B

F 111

—

— -------------:--------- ---------------------------- ----------—

—

Reproduced from the Unclassified / Declassified Holdings of the National Archives




in making your choice o f locatin g reserve banks.
I believe i t would be o f in terest to the en­
t ir e country to have this City approved as such.
Wishing you every success in your new plan,
I ara'

B espectfully yours,

C Z Cashier.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

CAPITAL & S U R P L U S $ 1 . 4 0 0 . 0 0 0 .

(ii:R M A N T O W N T lU

STCOM PANY

CipXTENAND GERMANTOWN AVENUES
P

h il a d e l p h ia

.

December 30, 1913•

Committee for Organization of Federal Reserve Banks,
c/o Secretary of the Treasury,
Washington, D. C*
Gentlemen;
In selecting the list of cities for the location
of Federal Reserve Banks under the new currency law, we
beg to urge upon you the justice of the claim of Phila­
delphia to be included in the list*
Philadelphia is one of the greatest collection
centers in this country, has a greater number of out of
town bank accounts than any other city save New York and
perhaps Chicago, and stands third in total bank resources,
in amount of deposits and in bank clearings*
Her honor­
able financial history from the days of the Colonies to
the present time and her ready assistance to the Govern­
ment whenever in financial need should lend additional
strength to her claim*
Hoping that you may give this matter your favor­
able consideration, we are,
Yours respectfully,

Treasurer*
c c b /m




Reproduced from the Unclassified / Declassified Holdings of the National Archives

J A C O B S . D IS S T O N .

W A L T E R F. H A G A R .

EDMUND

P r e s id e n t .

V ic e - P r e s id e n t .

M cC R E AD Y,

S ecretary

E. J. K E R R IC K .




a

T reasu rer.

A. ROTHW ELL M EEHAN,

V ic e -P r e s i d e n t .

R eal. E s t a t e O f f ic e r .

P e l h a m T r u s t Co m p a n y
Pelh am R o ad a n d G e r m a n to w n A v e .

P hiladelphia 13/34/13
Hon.William McAdoo,
Secretary of the Treasury,

A

p

Washington, D.C,
Dear Sir:~
We have learned that under the new
Federal Currency Bill that Philadelphia has
%
been Ignored ae^the Federal Raserve City.
When you consider the asxsual clearings of Philadelphia and the wealth represented
in same, we are surprised that Philadelphia has
not been named as suoh and we would, therefore,
earnestly request you to give favorable con­
sideration to same.
Hoping to reoeive a favorable reply,
we remain
Yours respectfully,
PILHAM TRUST COMPANY,

EMoC/FSJ

Treasurer

I

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Westmoreland Building and Loan Association
of TIOGA, PHILA.

Meets First Wednesday of Each Month.

GEORGE w. WORMAN, Secretary,
3436 N. 15thStreet.

Place of Meeting,
3542 N. 17thStreet.
Jgirm a ■v’tt

T A+Vi

T Q T jL

Reserve Bank
G e n _____
The Board of
Association assembled in meeting at
above address,on January,7th.1914,
passed a resolution to be forwarded
to your committee,that they are unani­
mously in favor of the establishment
of a Regional Reserve Bank in this their
city.Philadelphia,Pa*and desire that
their influence might be used for the
establishment of the same.




Yours Bp spe ctfully:

Reproduced from the Unclassified I Declassified Holdings of the National Archives

P R O B O N O P U B L IC O !

National (fermatt Ammrmt AUtmtr?
gf the U N ITE D STA TE S OF A M ERICA
INCORPORATED B Y ACT OF CONGRESS

M AIN OFFICE: 419 W A L N U T ST R E E T , P H IL A D E L P H IA , PA.
(To which all communications should be addressed')
S ecreta ry : ADOLPH TIMM, Philadelphia, Pa.

P resid en t: DR. C. J. HEXAMER, Philadelphia, Pa.
1st V ice P resid en t: JOSEPH KELLER, Indianapolis, Ind.
3 d V ice P resid en t: JOHN TJARKS, Baltimore, Md.
3 d V ice P resid en t: JULIUS MOERSCH, St. Paul, Minn.
4 th V ice P re sid en t: JOHN HERM ANN, San Francisco, Cal.
T rea su rer: H. W EN IG ER , Philadelphia, Pa.

5th V ic e P resid en t: JOHN SC H W A A B , Cincinnati, O.
6th V ice P resid en t: A. P. SCHEURMAN, Kansas City, Mo.
7th V ice P resid en t: Dr. LEO STERN, Milwaukee, W is .
8th V ice P resid en t: Dr. F. H. DAMMASCH, Portland, Ore.
Financial S ecreta ry. HERMAN W E D E R , Philadelphia, Pa.

>
°

E d ito r o f th e “ B u lletin " and P r e s s A g en t: M AX HEINRICI

Office M anager: A. GODSHO

Philadelphia, Pa.,

Hon. William Gibbs McA&oo,
Secretary of the Treasury,
Washington, D.C.

o

r m

Pear Sir:
In behalf of the Pennsylvania Branch of the lational
German American Alliance representing 189,000 members/ I
most respectfully request you to do everything in ypur power
to have a Regional Bank located at Philmtelphia.




Tours very truly

President of the lational
German American Alliance.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

S C RANTON
SOUTH

34 L A C K A W A N N A AVE.

BUFFALO

PHILADELPHIA

MICHIGAN

! 2 0 L A F A Y E T T E B' L ' D.

STREET

INCORPORATED

M IL L S

r m

B U F F A L O . N. Y.
S C R A N T O N . PA.
C A R B O N D A L E . PA.
M O N R O E TO N , PA.
R U M M E R F IE L D . P A .

D a il y

c a p a c it y

250 0 BARRELS

MlillJlElphlljPlp,

January 15, 1914.

Hon. William G. McAdoo,
Secretary of the Treasury,
Washington, D. C.
Dear Sir: We would like to add our name to the general petition
heing sent out from Philadelphia requesting that Philadelphia
he considered as one of the Federal Reserve Cities.
We feel that the importance as well as the geograph­
ical position that Philadelphia occupies should he seriously
considered in this connection* taking into account its hank
and trust company resources and the millions of dollars that
are naturally tributary to Philadelphia, its large wage roll,
which is ii* the neighborhood of three million dollars per week;
also the position that Philadelphia occupies as regards manu­
facturing indftftries, and many other points in its favor, which
will be much more ably presented by our Committee than we
could go into detail here.
We earnestly request, Mr. McAdoo that you and the
Administration kindly give serious consideration in the allot­
ment

AN

with one of the Regional Banks.
JAN 191914

rO R M

he Federal He serve Cities and favor Philadelphia

t

r




We are,
Yours very truly,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

pytlatel|il|rc ®r»g f&rljmtg?

%

l

BOURSE BUILDING

1Q ]^

PM 'LA D E LPH W

March 20, 1914.

Hon. Woodrow ;?ilson,
President of the united states,
Washington, j}# c.
Mr. President
On Monday last, one of the leading newspapers of Philadelphia con­
tained an article, prominently displayed,

stating that4, possibly, a

Federal Reserve Bank might not be established in this city, because of
the apathy of business interests in regard to the natter,
We trust that you do not' labor under any such delusion.
Being strictly a banking proposition, the subject was thoroughly ;
considered by the bankers of this city, who presented their opinions
at length to the organization Committee.
It has been generally understood that the secretary of the Treasury
did not favor receiving delegations of business men, and because of
this, our leading commercial organization - The chamber of Commerce,
thought it inadvisable to press tfor a hearing.

However, in view of

the wording of the law, "that the districts shall be apportioned with
due regard to the convenience and customary course of business and
shall not necessarily be conterminous *ith any state or states/ 1 they
clearly hold that this should make it imperative and mandatory that a
ban it should be established in this city#
In this conclusion, the Philadelphia Drug exchange fand we presume
the other business organisations of this city) heartily concur.

If

any demonstration of tltoe attitude of our hue In ess men is needed, sne
shall be very g€Lad to appear before you with a delegation composed of
business men of such character, ■orominenee. ability and financial stand.



fetffoducSd from the Unclassified / Declassified Holdings of the National Archives

-2— Hon* woodrow Wilson
ingt as to fully present, on behalf of the City,

the justness of the

claims made for the establishment of a Federal Reserve Bank in the City
of Philadelphia.^




Respectfully yours.

■a*

Reproduced from the Unclassified / Declassified Holdings of the National Archives

H . A . G a t c h e l , P r es id e n t

Both

C . A . S T i i s j $ O N fc V i c e - P r e s i d e n t




HAG/2487

P h ila d e lp h ia ,P a .

January 15, 1914

Hon, William Gibbs McAdoo,
Secretary of the Treasury,
Washington, D.C.
Dear Sir:
We would urge upon you the importance
of using your influence in having Philadelphia
selected as one of the Federal Reserve Cities.
Philadelphia always was, and still is,
pre-eminently an American city, strongly repre­
sentative of the true type of American citizen­
ship that has always responded financially and
otherwise to the wants of its Country and from
the very foundation of our Republic, has been,
as it should be, an important money centre,
independent of trusts or special influences, and
the many facilities demanded by its numerous
varied interests of manufacturing and merchandizing
and all other business interests, would without any
question entitle it to full recognition an an
important Reserve Oity.
Trusting the importance of this subject will
warrant your special consideration and influence in
having Philadelphia selected as noted, we are,

Yours very truly,
GATQEEXi So LiABKISGPresident
-qvT',

p h o n e

;

Reproduced from the Unclassified / Declassified Holdings of the National Archives

HE EDDYSTONE MANUFACTURE

COMPANY,

(
ESTABLISHED

o

1842

CABLE ADDRES S

//

"EDDYSTONE PHILADELPHIA"

s?

fort

Hon* W. GU McAdoo,

/ft. J anuary 19,1914

x

Secretary of the Treasury,
Washington, D* C.
Dear Sir,
SU B JEC T

Permit us to add our heartiest endorsement to the many
■f

strong reasons so fl»ly presented by the Committee of Bankers
and Business merj/ror the location of a Regional Bank in
Philadj
We trust you will use your best efforts to secure for
Philadelphia the recognition,

in every way deserves*
V&ry truly yours,
The Eddystone Manufacturing Co* ,
/
President.

\ i r\,^ ■* j.'
y ¥

JA N ;:

y

■ 12

z

OK

DIOT. S

STN. C




TRACER:

BNCLOSUHBS :

P

1" ■

-----------------------------------------------------------------------------------------------------------------------------------------

Reproduced from the Unclassified I Declassified Holdings of the National Archives

O.

F .

ZTJR N

J.

M .

ZTTRN

C U R R A N

T h e O.

F. Z

u r n Co.

M A N UFACTURERS AND W H O L E S A L E D E A L E R S IN

O ILS
O p p ic r

Oa b m
"ZURNOOO,”

a n d

W o r k s i

B R O A D

T jl^ T rllG rT T

a n d

A V E N U E

Address
I '

1111

1.1 11

-AI) K

‘i

\

l^

t lX

I iA

D

A"

B

I jP

/

H

X

A

.......................................

*1 9

t i l l * .....................................

1

\
\

Reserve Bank,
Organization Committee,
Washington, D./C.
Gentlemen:
We trust takt your committee may see f i t to place origin al Reserve
Banlfin Phi 1adelphia|in view o f the amount o f business which naturally flows
................

to th is point.




Trusting yon may take favorable a ctio n , we are
Very re sp e ctfu lly yours,

1

^

Reproduced from the Unclassified / Declassified Holdings of the National Archives

EDWARD

r .H E N S O N .

.L A Y T O N W . N I C H O L S .

Co.

& /d/w /(x^u)

A

LUMBER & MILLWORK
Ca b l e

A d d r e s s -.-

"H e n s o n " Philadelphia

Office

Codes Used
AM ERICAN

L U M B E R M A N T E L E C O D E , W E S T E R N UNION

s o u t h a r d 's a

.b .c .

a 5™ e d i t i o n s , a

KEYSTONE
LONG

D ISTAN CE

a

i co d e

921 N o rth D e la w a r e A v e .

Planing Mill

B e a c h ,P o p la r & D e la w a re A v e .

and W h a r v e s

P ie r s 3 7 & 3 8 N o rth W h a r v e s .

z e b r a

BELL
TELEPHONES

January 1?, 1914

Hon. William G. MoAdoo,
Secretary of the Treasury,
Washington, D. G.
Dear Sir :
Both as a merchant and as a citizen of Philadelphia
and the State of Pennsylvania I appeal to you to use your in­
fluence to have one of the regional banks located in Philadel­
phia.
J
Pennsylvania produces nearly 25 -1o of the to^al miner­
al production of the United States.
Philadaln2^.ft^jf .rank in
population, in money needs, in manufadjures, in c omraercia1
transactions and its bank clearings all entitle it to one of
the regional banks.
It seeing to us necessary, if business
is not to be seriously disturbed, if we may hope for a return
of the prosperity t'hat has been disappearing, that a regional
bank must come to this city.
The Currency Bill as passed
commends itself to us.
It is a credit to the present Admin­
istration.
If the regional banks, however, be not wisely dis­
tributed, much harm may be done.
We appeal to your good judg­
ment .
Yours very truly,

Pic .Henson-M




Reproduced from the Unclassified / Declassified Holdings of the National Archives

W. E. S H I P L E Y M A C H I N E R Y CO.
MORRIS

BUILDING

CHESTNUT STREET

PHILA D ELP H IA

P R IC E S S U B J E C T TO CHANGE WITHOUT
NOTICE. A G R E E M E N T S CONTINGENT UPON

January 1 , 1914

S T R IK E S A C C ID E N T S OR OTHER C A U S E S
B E YO N D OUR CONTROL

Honorable Wm. McAdoo,
Secretary of Treasury,
Washington, D.G.
Dear Sir:-

\f

\

a

^

/

/ ’

May I take the liberty of earnestly re_p^#xing that you give
careftil consideration to Philadelphia1s cla^Xto be selected as one
of the Federal Reserve Cities?
Briefly, I call to your attention

the Bank and Trust

Companies * resources, totaling 1*760,000,000.00, with many more
millions tributary to Philadelphia.

Its annual clearances represent

a sum of $8 ,000 ,000 ,000.00 - the total savings deposits amount to
close to $200 ,000 ,000.00 - the vast magnitude

of its commercial

and manufacturing interests rive its factories the lead in the manu­
facture of locomotives, battle ships, carpets, leather, hosiery,
street railway cars, hats, etc.
I also feel that a strong Regional Bank should be centered
in Philadelphia, which will place its community in an independent position,
.thus enabling it to serve its enormous home demand and likewise serve
the country sections which are tributary to this city.
There are numeral reasons why I think that Philadelphia
should have a Regional Bank, and I sincerely hope that af er a very
thorough, and careful canvas of the situation you T-'ill deem it wise
to place a Bank in our city.




Very truly ypur

Reproduced from the Unclassified I Declassified Holdings of the National Archives

GEORGE

E. WAGNER

<S
o COMPANY

INSURANCE
411
GEORGE

ELLW O O D

WALNUT

STREET

W A G N E R

TELEPHONES
KEYSTONE

PH I L A D E L P H I A

Jan. 13th, 1914.

Hott* Mm* C . IfcUdOO,
Spa*

tr e a s u r y ,

Woshiagton, D*
P e a r

.S ir :

\

S X)
V

^Philadelphia should toe made on* of the
T*—“"irnw i iniw iliw in iK n ii

federal J&eserve Cities because of her commercial and
financial importance and X, aa a citizen of that City,
ufould ask that

use your influence in that direction.
It Is nee&leaa to write you of her re*

aearet* a# a hanking, commercial and manufacturing centre
becauae you are already familiar with these facts, so
that X will aimjOy ask you to e#e that she is given what

sfo* so well deserves, a Federal Reserve BanJr«
right and just that she should have it*




It is

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C O N T R A C T S S U B J E C T TO S TR IK ES , A C C ID E N TS .O R C A U S E S BEYO ND O U R

CONTROL

J
. J. M
ohr

G
. K
. M
ohr

J.

J.

M o h r

8 c S o n

BRANDS

brands

PAXTON
BU5HONG
L O GA N
LEESPORT
PULASKI

MILLCREEK
READING
SHERIDAN
TEMPLE
WOODWARD

P

STANHOPE

ig

Ir

o n

,C o

a l

,C o

k e

O

r e s

BU
LLITT B
U
IL
D
IN
G

C A R BON

P h il a d e l p h ia

Jan. 14th, 1914.

Hon. Wm. G. Me Adoo, oec'y. of Treasury,
Washington, B.C.
/vp *
Dear Sir:~
Referring to the new C^r^noy-let whiej^eoame a law by
signature of the President under date of‘Decem>€r 23rd # 1912, we
beg to urge upon you what seems to \ e the Jiep<essity for the establish­
ment of a Federal Reserve Bank in this o M y *
Philadelphia, not only
by reason of its location, but more by#^ason of the large interests
which it represents, not only in all benches of manufacture and
banking, which interests are perhaps more largely diversified than
in most any other oity of these United States, is entitled to a
Federal Reserve Bank, such as is proposed under the new law.
We venture to say that no city in the United States has
been more patriotic in its support of the Government in times of
need, and is more thoroughly American in its composition, than the 1
city of Philadelphia, and this has been absolutely irrespective of
party. ^
M
It therefore seems to us that if this Administration
desires to divorce Ranking credit from the so callednIioney ’Trust”
about which we have heard so much recently, that the -Administration
can scarcely overlook the claims which Philadelphia can justly make
in its desire to have a strong Begional Bank centered here, enabling
us not only to serve the enormous home demand but also to serve the
thjckly populated sections which are tributary to this city. Further­
more, history chows that in all periods of financial stress in the
past, our banking interests here have not only taken care of their
own but have rendered material assistance and broad financing to
many other points, notably to New York and elsewhere, during the
most recent financial distress.
(

.) ..

These are facts which do seem to us not only cannot be
controverted but which also should have a material bearing on the
subject at issue.
It seems to us therefore, that if the present
Administration is disposed to act fairly in this matter, thet the
just claims based on the facts in past history of the city of
Philadelphia, cannot be ignored, and we trust therefore, that
Philadelphia’s claims may receive favorable action at your hands.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

£
rxmsuKv> §&pnxtmmt
TELEGRAM

64WU




A

18
PHILADELPHIA PA

,19.14

Reproduced from the Unclassified / Declassified Holdings of the National Archives

M c n ’S C l o t h i n g
W o m e n 's C l o t h i n g

\\Z an am aker ,

C h i l d r e n ’s O u t f i t t e r s
H e n *s H a t s , S h o e s
an d

Ma r k e t

f u r n is h in g s

and

szB r o w n

S ix t h S t r e e t s

P h il a d e l p h i a

January 13 1914.

H

_

Hon.William S. HcAdoo,

....

..

. ' A

\

FOFtu-^r---

Secretary of the Treasury

Washington, D.C*
Dear Sir :As reprdse^4xL0^?T’‘coneern engaged in
■business at one location f o r e v e r half a century and
deeply concerned in the City’s welfare, I venture to add
a brief letter to the hundreds you have already received
in urging the importance of Philadelphia as a Federal
.......
i*11
Reserve City*
It would be foolish on my part to
mention in detail the reasons which it would seem should
appeal to your Honor to justify the recognition and selection
more Regional Cities
of this City as one of the eight o
to be appointed*
My object is simply to emphasize the
arguments that have been so we 11 and so generally advanced on
every hand and are yet to be advanced, with -which you are
familiar.
Philadelphia is unique in so many w a y s , whether looked at from a commercial and manufacturing point
of view, its Bank and Trust Company resources, its prominence
as The American City and its historical past, that its claim
to be recognized would seem almost impregnable. In fact Philadelphia so fully conforms to
the requisite conditions that to pass her by in the selection
now pending, would seem in my judgment to be inexplicable.




Yours Respectfully9

WAMMAKE!

■

1

'

U M L I I '■ I".

Reproduced from the Unclassified / Declassified Holdings of the National Archives

THE SAGENDORPH CO., INC.
VPAf ’

METAL CEILINGS AND SIDE WALLS

Q U O TA TIO N S

SUBJECT

TO

CHANGE

W ITH O U T N O TIC E

F . E . S A G E N D O R P H , 2 N D , PRESID EN T

S C IE N T IF IC A L L Y

D E SIG N E D AN D ER EC T E D

L . A . S A G E N D O R P H , V IC E -P R E SID E N T
A . M . O G D E N , S E C R E T A R Y -T R E A S U R E R

AGREEM ENTS

UPON

PAINTING
W

AND

it h e r s p o o n

P

Secretary of the Treasury,
Washington, D. C.
Dear Sir:-

ALL

DECORATING
B

ARE

C O N TIN G E N T

S TRIK ES, A C C ID EN TS

DELAYS

BEYOND

OUR

AND

OTHER

CONTROL

u il d in g

h il a d e l p h ia

January, 13th, 1914,

Focm

The New Oureency Act by the signature of the
President became a law December 33rd, ^ 1 3 .
In order that Phi1adelphia may receive full reaognition in the selection o
Re serve Cities and be named
as one of the eight or more cities, will you kindly favor us
by urging the importance of Philadelphia as a Federal Reserve
City?
a
We hardly think we need mention in detail the importance
of this City in this connection.
Its Banl and Trust Company
resources total Seven Eundced and Sixty Million Dollars, and very
many more Millions are tributary to Philadelphia. Its annual
clearings represent the sum of Eight Thousand Million Dollars.
The population of the City and its near environment id close
around Two Million souls. Its commercial and manufacturing
interests are of vast magnitude - you will recall we manufacture here
about everything from a Match stick to a battleship- our product
of loom and forge and shop has gone to all lands.
The weekly wage roll distributed in Philadelphia is up­
wards of Three Million Dollars. The City leads in the manufacture
of Locomotives, Battleships, Leather, Hosiery, Street Railway Cars,
Hats and many other lines*
Three hundred thousand skilled artisans are employed in
our shops and the City has more individual plants employing five
hundred artisane and rupwards than any City in the world, ft is
preeminently a city of thrift, having three hundred and fifty
thousand individual dwellings. Its thrift is further evidenced
by its Savings Funds, one of these alone has two hundred and
seventy-six thousand depositors- 95$ of whom are wage earners- and
the City1s total savingg deposits amount to close around Two
Hundred Million Dollars.
Philadelphia has been and is to-day preeminently The
American City.
It should not be forgotten in this connection
that in the past Philadelphia has stood in the breach in financing
the Government in tight pinches. Robert Morris was an important




Reproduced from the Unclassified / Declassified Holdings of the National Archives

T H E S A G E N D O R P H C O . , In c .

S heet

N o .

January 13th, 1914
Secretary of the Treasury,

factor in financing the Revolutionary War; Stephen Girard rendered
valuable aid in a similar way during the War of 1813, and the
purchase of United States Bonds by Jay Cooke during the Civil Wax
when others held back, are all matters of record.
If the Administration decide to divorce banking crdit from
the so called "Money Trust" how can that Administration possibly
overlook the claims of Philadelphia in its desire to have a strong
Regional Bank centred here, which will place this community in an
independent position, enabling it not only to serve its enormous
home demand, but likewise to serve the thickly populated country
sections which are tributary to this City.
Through all the periods of financial stress in the past,
Philadelphia has not only taken care of her own, but has rendered
broad financing to many other points.

Tours very truly,

Address r*ply to
487 Chestnut Si




Reproduced from the Unclassified / Declassified Holdings of the National Archives

J. T

.

H a r r o p

TAILORS’
AND

32

& c S o n

TRIM MINGS

WOOLENS

N o rth

4th

St r e e t

P H I L A D B I ;P m A ,

Jany
13th-14
J

lion. William ^c Adoo
Sect ’y of the Treasury
Washington

DAC^> v'f

Dear Sir;Aa a native and a merchant of' the City Of Phi la- ..
^elg||ia,for over forty years,and nataralljr deeply cJMifSKrP1
*
"eot'^ih t-ie advance,emt of its banking interests, I take the
liberty to address you upon the subject of the location here
of one of the Regional Reserve Banks .

Will you permit us to suggest that in locating the
eight or more , of these banks,that 'fo psss over Philadel­
phia, in the interest of either Baltimore or New Yonk Ciy,
would be a serious blow to its large ^anufacturing, Jobbing,
and retailing interests, no less than to its civic pride.
We all know and most of us remember,what some of our
citizens have dgne to aid in the building up of this great
nation,no city ,can we believe,enen approach our record,
which contains such names as ROBERT MORRIS. STEPHEN GIRARD.
JAY COOKE.and many others in finance, the CRAMPS in naval
construction,tne BALDWINS in locomotives,the STETSONS in hats,
the BRILLS in street cars,the DOBSONS in carpets,and hosts of <b
others in various lines of human endeavor.
To subordinate such a city with its deeds of national,
and in some lines,of world wide fame-would b^ an act of injxistice almost unbelievable of an Administration elected in
•large measure to conserve the very traditions which make
PHILADELPHIA pre-eminent among .American cities.
Others will set forth for your information,f^ 1 1y and ably
Philadelphia’s banking capital and resources,and the extent of
the large district it so well serves.
We as merchants ask simply for equity and justice in your
final decision,and insist that granting these elements,you
cannot and wefeel aure will not, fail to name as one of the
REGIONAL RESERVE BANKING CITIES,
PHILADELPHIA.




With great respect.we are,
sincerely yours,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

F H B D E K IO

R A Y M O N D

W . T O K N B L Ii

W . T T T K T N 'IQ iV Ij

P h o n e
”

C a b l e

15-06 M a
606 M a i n

T D N K E L L

FA C T O R Y

15 ?vT. Eflll ^>1.

of

B\ H A H O L D

Gaul St. & Wheat Sheaf Lane.
Phone K e n s in g to n

5307

r k e t

J a n u a ry

1 3 ,

1914

A d d r e s s ' T u n e l c o ”

William G, Mo Adoo, Bsq.,
Secretary of the Treasury,
Washington, D.C.
Honorable Sir:
In your consideration of federal Reserve Cities for
the establishment of Regional Banks, I desire to emphasize the
importance of Philadelphia being ©elected as one of the eastern
reserve centersT*"'"'*'.... .
The hanking and trust company resources of this city total
Seven Hundred and Sixty Millions of Dollars, and very many more
millions are tributary to Philadelphia.
The annual clearings of
this city represent the sum of Eight Thousand Million Dollars. The
population of this city and its close environment is about two million
souls.
Its commercial and manufacturing interests are of vast
magnitude, shipments being made all over the world and including almost
everything, from a match stick to a battle-ship.
Three Millions of Dollars are distributed weekly in P h 11?delphia as a pay roll, and the city leads the TJnited States in the manu­
facture of locomotives, bat tie-ships f carpets, leather, hosiery, street
railway cars, hats, and many other lines.
Three hundred thousand skilled artisans are employed in our
shops, and the city has more Individual plants employing five hundred
•artisans and upwards than any city in the world#
This is preeminentaly a city of thrift, having three hundred
and fifty thousand individual dwellings. Its thrift is further evi­
denced by its *AVing funds, one ef these alone having Two Hundred and
Seventy-six Thoiusend depositors, ninety-five per cent, of whom are
wage earners, and the city’s total saving deposits amounting to close
around Two Hundred Million Dollars.
Philadelphia always his been, and is today




preeminently

p*"------- ----------------------------- !--------------------------------------------------------1 —
Reproduced from the Unclassified I Declassified Holdings of the National Archives

T£r. Wm. G. McA.

-«2--

Januar*

13* t y l A .

The American City.

It has always stood in the breach in financing the
Government in tight pinches.
Among its past financiers of note
were Robert Morris (who helped in financing the Revolutionary War),
Stephen Girard (who rendered the same assistance during the War of 1812)
and Jay Cooks (who during the Civil War purchased United States bonds
when others held back.)
These are all matters of common record.
If the present Administration desires to divorce banking
credit from the so»oalled *14onoy T ru st*, how can the Adminstration pos­
sibly overlook the claims of Philadelphia in its desire to have a strong
Regional Bank centered h e re ,which would place this community in pn in­
dependent position, enabling it not only to s e n t its enormous home
demand, but likewise to serve the thickly populated country sections
which are tributary to the city.
Through all periods of financial s tr e s s in the past Philadel­
phia has not only taken care of her own, but has rendered broad finan­
cing to many other points.
These are but * moro fraction of .the many considerations
which should make it important that Philadelphia be given a Regional
Bank.
Our people ar« worthy of it, and our resources should command
it.
I shall be glad if you will give the matter your careful at­
tention, and do everything possible to bring it about.
Thanking you for your consideration of this matter, I am,




Very truly yours,

p ,n

:

;

Reproduced from the Unclassified I Declassified Holdings of the National Archives

J . T .

H a r r o p

TAJLO RS’

&

S o n

J4ff

T R IM M IN G S

i ABTD W O O L E N S
3 2

TS'OOR T H

4 th

\

S th k k t

J4l9 u
/

P h ila d e lp h ia ,

January 13th., 1914

Sir
As supporters ofrK lcie present
ask, if not entirely inconsistent
subject,your consideration of the
establishment in this City of one
Banks.

Administration, may we
with your views on the
moovement for the
of the Regional Reserve

Doubtless the proper officials having this matter
in control, are woll posted on the importance of our
financial institutions,but we feel very strongly that
sucli a Bank is not only greatly needed but weil deserved
owing to the many industries, not only in the City, but
in the vast community adjacent to, and in a great measure
depending upon, Philadelphia, for their banking facilities.,




With expressions of respect, Sir, we aro,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

NORTHWEST BUSINESS MEN’S ASSOCIATION
2336 C O L U M B I A A V E N U E
PHILADELPHIA

Secretary of the Treasury,
Washington, D. 0.,




Dear Sir,
At the last meeting of this association, held on
January 5th, the following resolution was passed:f,Resolved, That it is the conviction of the
Northwest Business Men*s Association, repre­
senting the smaller business j/en of about
four hundred closely built cyty blocks of
this city, that Philadelphiafshould in all
justice and logic SetJae sit e of one of the
proposed regional banks, by virtue of her
thriving port and her extensive ..inlan.4 com-.
merce.u
t
Very truly yours,

Recording Secretary.
1429 Chestnut Street,
Philadelphia, ?a.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

BROOKES & P E N N O C K

HUNTER BROOKE
e

. b l d r id q b

pbnno o k




403 AND 404 BOURSE

G r a in M e rc h a n ts

15, 1914

“before you by a Committee appointed for that pur­
pose, X wish, as a business man, to ask t*hat this
City be given the consideration it merits, which
entitles it to one of the Regional Banks.

I feel

that if the City is not given a Regional Bank, ita
interests will suffer a great curtailment of credit,
which is of vital interest tc ev^ry man engaged in
business whether mercantile, manufacturing ©r otTher*
wise.
It is not necessary for me tc take up yeur
time in giving figures as to the aggregate capital
and resources of its financial institutions,- 1 am
connected with several and know what it means XT
this City is passed by.

Hot only the-City will

suffer but the surrounding country and adjacent States
of Delaware and Hew Jersey, which clear through its
Banks.
Very respectfully yourss

-------------------------------------

"Llll■ .

Reproduced from the Unclassified / Declassified Holdings of the National Archives

m----------------------2 F r a n k l i n --------------------B a n k B u iJl d5i n, gn

: " S:

Broad and C hestnut S tre e ts
P h ila d e lp h ia

t desire to ug§e on you the desirability of the se­
lection of Philadelrfy^as the location of one of the Federal
Reserve C i# fW fll^ ^ ^ ^ r h e City1® commercial and financial impor­
tance fuHy warrante th is.
But even a more potent reason
for the selection probably arises from the fact that i f Phila­
delphia Is put with Sew York, or treated as a branch city of
the Sew York bank, one of the principal purposes of the Currency
Act* namely, to prevent the undue concentration of the country’ s
bankable funds in few York, w ill be disregarded.
I f , however, on account of its proximity to Hew York,
Philadelphia i s not selected, and is made tributary to the Federal
Reserve Bank at Baltimore, or Washington, this w ill work distinct­
ly te the disadvantage of Philadelphia, and there is every probabili­
ty that the Philadelphia bonking interests w ill associate themselves
with Ifew York.
Philadelphia can probably build up a strong
Federal Reserve Bank.
Tf it is associated with a place of
less importance, it w ill tend to drift to
York,
I %eg, therefore, to urge that, with the view of carry­
ing out rooTe fully the purposes of the Act, Philadelphia be named
fcs a place for one of the Federal Reserve Banks.
lit so elated in business and financial matters largely with
Republicans, i t glv#s me frequent and patriotic pleasure to see a
growing modification e f apprehension to our Democratic administra­
tion , of which you are the able and in telligen t leader.
Especially
do I compliment you on the passage of th* Tariff Act, the Currency
Act and your handling of the d iffic u lt situation that we havs now
with Itexlec*




I arc,

j

^
v

* V is

y

Reproduced from the Unclassified / Declassified Holdings of the National Archives

H o f f m a n -Co r r M

f g .C o

.

y
PHILADELPHIA
3 1 2

'

M A R K E T ST.

NEW YORK

Philadelphia, January

150 DUANE ST.

v

191 ^ %

• />•

Hon. William Q-. McAdoo
secretary of Treasury,
Washington, D. C.
My dear Mr. secretary:The suto^ect of the Federal Reserve
Banking is close to every American.

I hope there is no

doutot Tout what Philadelphia will he put on an equal toasis
with any City in the Country for we all know she is equal
to any City in the Country and in many respects ahead of any
City - the largest manufacturing City in the Country, if not
in the World*
We are all familiar with her history
at one time she was capital of our Oountry and she has never
“been found faltering under any conditions*

All that is now

asked is that she toe given an equal opportunity with any other
City and toe made one of the Federal Reserve Cities.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

NO A G EN T ALLOWED TO C OLLEC T M O N EY UNLESS S P EC IA LLY AUTHORIZED ( I N W R IT IN G )
NO AG EN T ALLOWED TO DRAW DRAFTS OR MAKE ORDERS UPON US FOR M ONEY

-O FFI C E R S

H .A .P R IZ E R
P R E S ID E N T

JNO.B. B U Z B Y
TREASURER

C. H. PR! CKtTT
A S S T TR EAS UR ER

NEW YORK BRANCH, 105 CHA MBE RS S T R E E T
PAPER M IL L S , L A M B E R T V IL L E , N . J .

P h ILA DE

JO S.S.W ILD S
A S S T SEC RETARY

Jan. 14th, 1914

The Hon. Wm* G* McAdoo,
.
Secretary of the Treasury, ^
Washington, D. C.
Dear Sir;Having been established since 1868, and for the
last forty years at the present location, we feel warranted
in assuming a pardonable pride in Philadelphia and its in­
dustrial activity*
n ...
We understand the subject of the location of
federal Reginnal Reserve Banks is now under consideration,
and while we are not informed as to the ultimate location
of these Banks, may we express tine hope that in the selec­
tion Philadelphia will be favored.
We trust it may not be out of place for us to
state a few facts which have a bearing on the subject in
question.
Philadelphia is the birth-place of the Constitu­
tion of the United States--!s the third largest city in the
United States- ranks third in the United States in exchanges
of Clearing House. for the year 1913 this item amounted to
543, 472,000. It is the greatest workshop in the world,
because she has the largest body of ekillesd labor ever gath­
ered together in one city. With only one-sixtieth of the
population of the United States she produces one-twentieth
of all its manufacturers— has 16,000 manufacturing plants,
employing 250,000 skilled laborers; each year consuming
#400 ,000,000 of raw material and producing #700,000,000
of manufacturers.
It 1eads every city in the Republic in the value
of its manufacture of Locomotives, Carpets and Rugs, Leather,
Hosiery and Knit Goods, Woolen Goods, Street Railway Cars,
Iron and Steel Shipbuilding, felt Hats, Saws, Upholstery
Goods and Oil Cloth.
Appreciating the oft-repeated expression of the
honored head of our nation, The Hon. Woodrow Wilson, Presi­
dent, that it would be his constant effort to do everything
to assist big business, may we therefore ask your support in
obtaining for Philadelphia the locating of one of the feder­
al Regional Reserve Banks? In short, we feel that Philadel­
phia has a just claim for recognition.



F *"" -'"1

------------------------------------------- '--------------------------------------------------------------------- 1
----------------- 1
..............

... .................. 1

Reproduced from the Unclassified / Declassified Holdings of the National Archives

( 2)

Thanking you for your kindly consideration,
we are,
Yours ver;
Wili
Dictated.




truly
m

ny,
Presiden*

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Form 193—11-71-13

FOR ADVERTISING GOODS BOUGHT, SOLD OR USED BY THE RETAIL MERCh*NT

Honorable Woodrow Wilson,
Washington, D. G.
Dear Sir:As Editor and Manager of The Trade Expansion
Journal, a trade paper edited and published in the
interest of Philadelphia^ manufacturing and jobbing
industries, it is only right that this paper should voice
the sentiment and feeling of intense disappointment as to
Philadelphia apparently being omitted in the distribution
of regional banks.
As one of our largest American cities there is
absolutely no justice in this city being eliminated.
It
is one of the greatest manufacturing and jobbing centers
in the United States today and we have every good reason
to not only expect but look forward to having one of
these regional banks in this community.
The attached statistics will give you
considerable Information relative to Philadelphia as a
great commercial center and we trust when final action is
taken this city will receive worthy recognition.
Most respectfully yours,

HS/C



-mmrf.mmgr

mm

Reproduced from the Unclassified / Declassified Holdings of the National Archives

TRADE MARK.

REG. U.S, PATENT OFFI

SOLE AGENT FOR /
BOUTILLIER, G.BRIAND & CO., Cognacs.
SOEHNLEIN & CO. German S p a rk lin g W ines
GERMANIA WINE CELLARS, Grand Im perial Sec
BACCHUS VINEYARDS,Sparkling Sauternes and Burgundy
GREENBRIER, F in e s t S our Mash W hisky,
B o ttle d in B o n d , F iv e Y e a rs O ld.
PELICAN BRAND, Bass E n g lish Ale.
Guinness'Brown Stout, Robt. Younger’s Scotch Ale
WILLIAMS SPRING, Blue Label, Natural S parkling
Mineral Water, Crowned with 40 Medals and Diplomas.
The Goddess o f all Table W aters.

No. 24 N o rth 9 TJ St,
BOTH P H O N E S .

CABLE A D D R E S S LAUBER PHILADELPHIA

24- & 2 6

N -9 T H

STREET.

904 FILBERT S T R E E T .

c

Ph il a d e l p h ia ,

January 21,1914

BLENDER OF
The Very F ine st S tra ig h t Rye W h is k ie s . —

PROPRIETOR OF

11011 •

Cabinet Whisky No.9. Luxus Whisky. Lethe Export Beer.
Laubers Lethe Rye, Bottled in Bond Five Years Old
MANUFACTURER

OF

Laubers Boonekamp, Laubers K ra u te r B itte rs ,
Aromatic Cocktail Bitters,Fernet Lauber,Orange Bitters,
Sloe Gin, Buchu Gin, Kum rnei, V erm o u th ,
Ginger-Lavender-Wild Cherry and Blackberry, Cordial,
C rem e de Menthe, A b s in th e , etc. etc. etc.

T. McAdoo,
Secretary of the Treasury,
Washington, D.

^ f

D«ar Sirs
I hope that our Philadelphia d e le g a tio n has convinced you of
the needs of a Regional Bank fo r our City.
For one of the Western Banks L o u isv ille , Ky. is certainly de­
serving of a Regional Bank, as the banks in this territory accommodate
thousands of dealers throughout the Country by advances on Whisky C erti­
f i c a t e s , Tobacco, e t c . , which contribute so largely towards the revenue
o f this Country.
Kindly give my suggestions careful consideration and hoping
you decide in their fav or, 1 Remain, with the best regards#




T^cujKmost r e s p e c t fu lly ,

Reproduced from the Unclassified / Declassified Holdings of the National Archives




TKEASURY DEPARTL'ISNT.
Office Comptroller of the Currency.
Date, .................

Respectfully referred to the .... .......
Secretary of the Treasury
and the writer so advised..
n
/
1^ 1/

cfcifcg Comptroller,

* " * ------------------------------------------------------------- ---------------------------------------------------------------------------------------------------

'■PML-U. ■

--------

Reproduced from the Unclassified / Declassified Holdings of the National Archives

F. N . H 0 F F S T 0 T , P r e s i d e n t
T.W . F r i e n d , v i c e p r e s i d e n t

G e o r g e

G . Schm idt,

H .J .G .B r e k e r ,

c a s h ie r

A s s t . Ca s h i e r

NO. 2 2 61

* :o m r rt)!; o r

■ia
C a p it a l
S u r p lu s

6F CUHRESCY

$ 2 0 0 ,0 0 0 .0 0
$ 9 0 0 ,0 0 0 .0 0




. December 26, 1913*

Comptroller of the Currency,
Washington, D. C.

f ^
"I

Dear Sir:-

J

A

Referring to the "FEDERAL RESERVE BOARD”,
of which we Tinderstand yon are a member, we would
respectfully request that the City of Philadelphia
be selected as on© of the cities for the location
of a Regional Reserve Bank*
Yours Yery truly,

Cashier*

pPI*PWP—

'

'

'W '""

111111

Reproduced from the Unclassified / Declassified Holdings of the National Archives




1663.

Ja
n
u
ary 8tki 1
9
1
4
.

E
o
n
. W
illA
aa 8. H
a
A
d
o
o
,
S
ao
ratax? of tha Zrauaxy,
Y
asklagtoa, S
. 0.

Sir;*
la w
eald raapaotfully u
rg
ay
o
u to *aa
your taat a
&
d
a
a
T
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r to
w
ard the aatabllakB
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of w
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this m
attar yoar klad attaatloa a
n
dM
g
r va
k
o
p
a for a daoialoa la lta flavor.

Tory raapaotfally.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

,/Y //J M f / / ; ///, December 30,1913,

0

Committee for Organization,
Care of the Secretary of the Treasury,

" .

Washington,!) .C.
Gentlemen:We would like to add our desires to those of the other
banks of Pennsylvania that you place one of the Federal Reserve Banks
in Philadelphia.

It is hardly necessary for us to advance any

arguments in its favor,as doubtless at the hearing before you all
the arguments will be brought up.
We only desire to say,therefore,that we are heartily in
accord with the desire to make Philadelphia a Reserve City.




Very respectfully,
A/VvMl

b..A—
“j

Secretary,

p ...

.............:------------------------ :-------------------------------------------------— —

-

Reproduced from the Unclassified / Declassified Holdings of the National Archives

JJACOB S. U L fJE R ?
■pi

*

|1
:

;

/
%/

.^ R E S I D E N T

S. \

__

GEORGE H.D e FREHN,

V IC E P R E S I D E N T

I
1

'

J A M E S AR CH BA i-D , JR.

C A S H IE R

/

/

B a « a .B x .x s a B S D a 8 2 8

/

‘® IE M i n e r s N a t i o n a l B a n k
eAfxiMi|B0 0 ,0 0 0

/

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8unms|Boo,ooo

y

December 27th, 1913.

Honorable William G. McAdoo,
Secretary of the Treasury,
Washington, D,C.
Sir: In view of the fact that the net deposits of national Banks
and the total resources of the hanks of Philadelphia are so large,
being exceeded only by New York City and Chicago, and also of the
fact that Philadelphia is conveniently situated to serve without
delay a large banking population, we would respectfully say that
this bank greatl;/- favors the establishment of a Federal Reserve
Bank in the City of Philadelphia.




^ '•

1

'•

Reproduced from the Unclassified I Declassified Holdings of the National Archives

L. Bu c k w a l t e r ,

O . E. T h o m so n

President.

Vice President.

H . A . Je n k s ,
Cashier.

N o. 1936.

Farmers and Mechanics National Bank
O F P H O E N IX V IL L E , PA.

C a p i t a l P a i d , $ 1 0 0 ,0 0 0 .
S u r p l u s $ 9 0 ,0 0 0 .

j

P H O E N IX V IL L E ,

O




r

-

,

.... 3...^....!...... L3 ..L ... ^




SW.j3_

Reproduced from the Unclassified I Declassified Holdings of the National Archives

T H E O . B. M I L L E R .

P resident

CAPITAL,

HENRY L A T S H A W ,

C ashier

S urplus




$100,000
a n d

T he C i t i z e n s N a t io n a l B an k
* /f ///

P O T T S T O W N . PA.
(tv

i^ o r m

i>

$

P rofits,

$175,000

Reproduced from the Unclassified I Declassified Holdings of the National Archives

No. 4 8 3 2

T

h e

F

ir s t

N

a t io n a l

a n k

SURPLUS $
$ 1 6 0 ,0 0 0

C A P I T A L $ IOO, O O O
ESTABLISHED

P

B

1 892

, ]*A.

h il ip s b u r o

D,ec emb er 2 6 1913
Hon Wi ll iam. G. McAdoo
S e c r e t a r y ©f the Tr easury-Washi&jgton D.C.
Dear s i r ;
We d e s i r e to reccommend f o r your s e r i o us

consideration,

the Ci ty of P h i l a d e l p h i a , as a most v a l u a b l e , convi enent and
i mportant po i n t

f or the

Reserve B n a k s . i t i s
we find i t

e s t a bl i s h me nt

our r e s er ve

of

one of the Federal

c ent re and has been f or y e a r s ,

the most advantageous po i n t

c o n d i t i o n s , and s i n c e r e l y t r u s t t h a t

f o r general bus i ne s s

these

c o n d i t i o n s may be

conti nued. we a r e .




Very t r u l y yours

Reproduced from the Unclassified / Declassified Holdings of the National Archives

6465

^

SURPLUS

$4g »00Q #

ti |Smxk
* t £ ( § u u k e r i i x i x n t f^ ^
C a p i t a l $ § 0 .000 .
J . H .S H E

L L Y ; R R E S ’T

H . H . S O U O E

J N O . D . M O Y E R

, C A S

R

, V I C E

P R E S 'T

H I E R .

Quakertown,Pa . Dec. 24th, 1913*

Eon. W,

d.

McAdoo,

Secretary of the (Treasury,
Washington1, D, C,
Sir:
Our PMla delphia Reserve Banks have given
us the requisite accommodation for elvven years,
the time we are in business, therefore, we
request that you w ill give Philadelphia clue
consideration in fee designation o f the Federal
Reserve Cities because o f its financial strength
and its past record, “being a "business center.




r

Reproduced from the Unclassified I Declassified Holdings of the National Archives

D. E. HELM,
p r e s id e n t

LLOYD I .. WINTER,

I. HAINES DICKINSON,
VICE PRESIDEN T,

^ '

C ASH IER,

8045.

h e

F

a r m e r s

N

a t io n a l

. B

a n k

OF QUARRWILLE.

O u a r r y v ille ,

P a . , __December

£7,

To Hen. Committee for Organization,
Washington D. C.
Gentlemen:Several of the larger Banks in reserve
centers are soliciting the support of their out-oftown aorrespondents in the campaign now being waged
for the location of Federal Reserve
new Currency law just enacted.

Banks under the

We would reccomend the

City of Philadelphia, as it is one of the greatest
collection centers in this country; and stands third
in total bank resources and in amount of deposits. We
be

belifcve it would greatly to our advantage to have
Philadelphia designated as one of the Federal Reserve
Cities, I am,




Very^truly yours,

1Ql3

,

......................

. .

.....................

Reproduced from the Unclassified / Declassified Holdings of the National Archives

G .W .H e n s e l J r .,
Pr esid en t .

L.R u s s e l A m b l e r ,
V ice P r e s i d e n t .

A .S .H

ar k n e s s

,

Cashier.

No. 3067.
Dec.

26th, 1913.

Hon. William G» McAdoo,
Secretary of the Treasury,
Washington,

3). C.

Dear Sir:It is the wish of this hank to file its request that
a Reserve Bank under the new Federal Reserve Act, he established
in the city of Philadelphia,
The only reason for this request is, that practically
all business in this district outside of our strictly local
transactions, is Philadelphiaward, and it will be unnatural and
unsatisfactory to force it into any other channel.
This condition condition holds good throughout the greater
part of the State of Pennsylvania, and ceratinly the eastern
half, and we trust the importance of the district will justify
our position and your influence in the make up of the Reserve
Bank list.




Yours v/€r

Reproduced from the Unclassified I Declassified Holdings of the National Archives

c ju n m x i # r s ,o o o

T h e

v a n u p x .v s $

N e v e r s ih e

H E N R Y S C H O F 6 R , PR EST.
M . G .T A Y U O R , V. P r e s t .
G E O . O . R U N Y E O N , 2 1?? V. PR E ST .
H. S . S T R U N K , C a s h i e p .

___
A

S

A

B

—
I

I

O

^

E

» _

4

®

d o, oot>

Ba n k

, ,

y

"Dec. 25,1913
Hoc.William 3.McAdoo,

t ^

Secretary Of Xhe Treasury/,
Washington,B.C.:Bear Sir:We address you in behalf of the City of
Philadelphia and the Banking interests therein who
are petitioning you to appoint that city as a federal
Rerve Centre.
The banks of Philadelphia have always been
oted for teir conservative banking business,and with
resources approximating one billion dollars,and with the
wide expanse of territory they serve,we sincerely belief
that the city of Philadelphia deserves to have a Federal
Reserve ‘Bank.
We trust in you to gi^e their application
due consideration.




> 4'i»lL!ydW*4W.Ui

Reproduced from the Unclassified I Declassified Holdings of the National Archives

W ILLIAM H. LUDEN, President
FRANK P. LAUER, First Vice-President
CHARLES E. LE IPPE, Second Vice-President
M. V. R. CUSTER, Cashier

C a p ita l,

$ 1 0 0 ,0 0 0

S u r p l u s , $ 2 1 0 ,0 0 0

S ch u y lk ill V alley B a n k
OF

READING,

F*A.

R ea d in g, P a ,

6, in'*.

ffieeretary ef the Treasaiy,
lashington, D. 0*
Dsar Sirs*
Below you will please flat Copy ef a Preamble and Resolution passed
by the Board »f Direeters ef the Sehuylklll Talley Bank of Reading, at a mooting
of the Board of Direeters hold Deeoaber

1913°

Preamble & ReselutiensVfceaeas, the Unitod States Government is about to establish
regional banks,
i /
KM«r*r

"5

lad Wfcereas, tbs City of Philadelphia has more money in
Stat. B u k s u l trust .«mp«al.. tss*

«ti.r «ity U

v!

this vioinit|r, lneluding Hew York,
Resolved, that we eensider it desirabl# sad essential for
the banks of Philadelphia as well as their many oenneetions throughout the state
that the said eity of Philadelphia should be made one of the

eight Federal

Reserve «eat ere, and that one of the said Reserve banks Should beleeated la the
said elty of Philadelphia.
And resolved, that a eepy ef this Resolution be ssnt to
the Secretary of the Treasury at Washington,

sad to Honorable John H. Rethermel,

Congressman of this Distrist.
Vs would thank you to kindly use all your influeno* to oarry out the
wishes ef our Board*




Reproduced from the Unclassified / Declassified Holdings of the National Archives

J o h n Ba r b e y , P r e s i d e n t ,
G e o . B. S c h a e f f e r , v ic e P residen t.
J n o . H .M a u t z b e r g e r , C a s h i e r

,0]<a « 5 W k
o f R e a d i n g . P a . , d»o. 2 **, 1 9 1 3 .

Isp s*

W.

0.

Y eM oo,

Seoretary of tbe treasury,
Washington, D. 0.
Dear 81r:~
With the enaotaent of tbe Currency Bill into lav, 2 presume the
next l U p will be the selection of tbe Federal Reserve Cities, and we desir* to request that Philadelphia be selected as one of them.
It will eertalnly be a benefit to the many banka In the State
of PsnnayVraaia, and I think a greater number of people oould be better
served by having It eeleoted.




fery respectfully,

Cashier

F ...

............................................................—
Reproduced from the Unclassified / Declassified Holdings of the National Archives

<>600,000.
C A P I T A L $ 3 0 0 ,0 0 0 .

1? 2 5 5 2 .

SURPLUS

Han# William G. McAdoo,
Secretary of the Treasury,
^shingt^n, D. 0.
Sir:We earnestly and sincerely request the
establishment of a Federal Reserve Bank in Philadelphia
for the following reasons
Philadelphia is the Third largest Oity in the
United States. Philadelphia is one of the three largest
commercial centres in the United States.
In Banking resources it ranks third amongst
all the Cities in the United states.
Because of the thickly populated counties of this
great State and of neighboring States, and because of the
multitude of large and small banks located in all our
small towns, boroughs and cities, this conmunity is
dependent on Philadelphia for its banking needs and for
the prompt dispatch of the business of our people, which
we believe cannot be satisfactorily handled by a more
distant Federal Bank.
Philadelphia is one of the very oldest banking
centres in the United States, and is, we believe, because
of the character of the people hereabout, and because
of the extensive and populous territory it serves, a
necessary, a natural, and a logical location for a
Federal Reserve Bank.




Respectfully,

V

{ '7 (■>■/

flashier.

F "«

--------------------------------------------;------------------------------------------------------------------------------------- ---

Reproduced from the Unclassified I Declassified Holdings of the National Archives

A .J .B R U M B A C H , &?£sr.
J E R E M IA H G .M O H N ,v/c r

S A M U E L H.FU LM E R , CASHI£I9
N iO p f t q q

t m
Be|.26,1912.
Mr Win. G. Me Ado o ,

J R E A D Z N G , J°A.

Secy, of the Treasury,

\C O'

\
\

Washington ,D.C.
Dear Sir:
Ve are strongly urging the establishing of a central hank in the
City of Philadelphia. Being located within 60 miles from Philadelphia and
practically a continuous town from Reading to Philadelphia ,it would he of
great convenience and indeed much appreciated if you should favor us by the
above request.




Yours very truly,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

NO. 6 9 6

C A PIT A L $ 4 0 0 . 0 2 0 .
C. K . W H I T N E R ,
JOHN

Ca

F. E. N Y C E , A

$ 7 0 0 .0 0 0 .

PRESI DENT.

B A R B E V , V ice P

R .S .M E C K ,

SURPLUS

rest

.

sh ie r

.

s h ie r

s s t

. Ca

.

v /'J x /y Deo. 36, 1913.

Hon* W* G* MoAdoo,
Secretary of the Treasury,
Washington, D. 0.
Dear Sir:«
We beg to address you on the subject of the distribution
of the Federal Reserve Banks#
These

banks, we understand, are to be organized in at

least eight and not over twelve cities in the country*

Your selec­

tion will no doubt be such financial centres as will be most advan­
tageous to the country at large.
May we intercede for our neighbor, the city of Phi lade 1phia,the home of banking, whose bankers have always been above reproach and who are desirous of securing a Federal Bank for their city*
We have been carrying the bulk of our Reserve with Philadelphia banks
for one hundred years, always finding them courteous and obliging ,
never overcharging or taking advantage of us or any trust confided
in them.
While New York City is a logical Reserve Centre and the
close proximity of Philadelphia will no doubt work to the disadvan­
tage of the latter city,

yet we feel that the large banking interests

of Hew York state and Pennsylvania necessitate a Federal Reserve Bank
in each of these states#

We would therefore ask that you give

consideration to this matter in behalf of the banking interests of
this state*



jrt

due

Reproduced from the Unclassified I Declassified Holdings of the National Archives

NO. 6 9 6

'/ / r m s :/ ') *
C A PIT A L $ 4 0 0 . 0 2 0 .
C. K . W H I T N E R ,
))OHN

PRESI DENT.

B A R B E Y , V ice P

R .S .M E C K ,

Ca

F. E . N Y C E , A

SURPLU S $ 7 0 0 .0 0 0 .

rest

.

sh ie r

.

s h ie r

s s t

. Ca

.

<•

; , s y j: Deo, 36, 1913*

Wishing success and the hearty co-operation of all bankers
in your administration, I am,




Sincerely yours,
(R .

I .

Cashier*

Reproduced from the Unclassified / Declassified Holdings of the National Archives

T h e

R

i c h l a n d

JJ

CAPITAL.

N

a t i o n a l

B a n k

$25,000.00

M O O R E , PB18IDBST
> F O C H T , M . D . , FIRST VICE PBBST.
Z U G , 8KCOND VIC® PHK3T.
R B B E K , OASSIXB

R IC H L A N D ?

PA.

r)e c

2 0 ,1 0 1 3

Hon. Wm.G .McAdoo,Sec . Of the treasury,
Washington, D .C .
Sir”

Te beg leave to petition you to designate Philadelphia.

xxk as a city in which a Federal Bank shall he establish ed.
The Philadelphia Hanks have been"t^ft&jeringxtffe
excellent service, especially in that they have been
collecting checks anywhere in the United States free of
charge.




Very truly yoi^°
Cashier

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Loans

Made-

tere st

P a id o n

D e p o s it s , A c ts a s

Ex e c u t o r

A d m in is t r a t e

r u s t e e

,

A s s ig n e e , A g e n t , Et c .
BELL ’PH ONE 7
KEYSTONE -PHO NE 2 7

Snprgfnrft

(Enmpang

STATE DEPOSITORY

J. A. B U C K W A L T E R , P R E SI D EN T
G. E. B R O W N B A C K , V i c e - P r e s i d e n t
I. M. S C H E L L I N G E R , 2 N D VICE -PRE SID ENT
J O H N H. M A N S U R , S EC RE TA RY
G E O . W . B O W M A N , T RE AS U RE R A ND T R U S T OFFICER




/

5
/

70

m.

_

D©C

/

Irtl

------------------------------------- ----------------- *

ziC uC Lxy
u i
ouc
i i c a o u i j
To the Hon, Secretary
of
the
Treasury
Washington, D. C.

Sir:
In view of the importance of Philadelphia as a
financial centre we are of the opinion that the city
is entitled to a Federal Reserve Bank and we hope
it ir.a^ meet your vie-'s to have it named as such.
Your3 truly

^
*

Reproduced from the Unclassified I Declassified Holdings of the National Archives

D R . M . B. B R E N E M A N . P r e s i d e n t

N O .

7 2 2 9

E .E I C H E L B E R G E R , V ic e P r e s .

/

R. M. B R E N E M A N , C a s h ie r
w

. C. B O Y L E S , A s s t . C a s h ie r

Rational P » n &
C A P IT A L

$ 3 0 ,0 0 0 .0 0

S a x t o n , P a .

C.

^

a-—

«5. © <£> 0

—tx y

^ € t- s ~

C A ^ a y /C ^ ,

ihnrm



^

C<---

p ^ 11

-------- :------------ -—

:------------------------------- -—

Reproduced from the Unclassified I Declassified Holdings of the National Archives

J R. STAUFFER, P r e s t
W. F. STA OFFER, Vice P re s .
•J M Z/M M E R S , C s s /i/e r
ESTABLISHED /BBS.
■>.

^ca ffc/a /e
CAPITAL $ 50,000 SURPLUS $300000.

January 7th, 1914.

SC'OTTDALE PA.

sSSei

ATTENTION OF COMMITfSB OR ORGAHIZIllGf "
REGIONAL BATIKS
G>
%

Comptroller of the Currency,

— "^

T

j\ ^

Washington, D. C.
Dear Sir, We wish to urge that you loca t / one of the
Regional Banks in the city of Philadelphia.^ We note they
stand third in total banking resources of our country, as
well as in deposits.
We wish to hear witness to the fact that we
have used Philadelphia for clearing purposes for many years
and find it very satisfactory and, in fact, advantageous in
many ways.
We feel, therefore, that it would he a center
well suited and especially convenient for a great many of
the hanks throughout the country districts.
Trusting your committee will give Philadelphia
due consideration, we are
Very truly yours,

Diet:JMZ:J




^

Reproduced from the Unclassified I Declassified Holdings of the National Archives

(Cite p a p b s

%aXxxmii iBank,

SCRANTON, PA.

December 27, 1915.

Hon. Wm. Gr. McAdoo
Secretary of the Treasury
Washington,
D. 0*
Dear Sir: I notice by the daily press considerable activity
on the part of various cities of the United States in
their endeavor to secure one of the Federal Reserve Banks •
In this connection, I wish to call your attention to
the natural claims that can be made by Philadelphia,
Pa. for this distinction.

It is probably ninecessary

to state to you'that Pennsylvania being one of the
most important States of the Union is entitled to a
Federal Reserve Bank, and that Philadelphia

as the

important city in such State is the natural location for
a Federal Reserve Bank..

More than this, on account of

its geographical location, and for other reasons it has
always enjoyed a lar&e amount of business from the Southern
States, so that its designation would not only be a benefit
to the State of Pennsylvania, but to numerous Southern States.
We have found that Philadelphia .0f

all large cities has

been the only one to grant the free collection of checks
to its out-of-town correspondents, and its policy &n all,
respect^has been broad and liberal.

Trusting that you may

see your way clear to locate a Federal Bank in the Oity of



Reproduced from the Unclassified / Declassified Holdings of the National Archives

ffije Ifeopbjs ^aSxuxxmi TBxmk,
SCRANTON, PA.

"CYRUS D.JOINES.

president,

T H O M A S S P R A G U E ,v ic e

p r e s id e n t

,C . S . W O O L W O R T H , v i c e

p r e s id e n t

,

G E O R G E T . D U N H A M ,c a s h i e r .

December 27, 1913.
Hon.

G. McAdoo.

-2

Philadelphia, Pa.




Yours very truly,

Cashier

P P P

----------- --------------------- ------- ;--------------------------------------------------------

jjuum.u..

.1

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Honorable William G. McAdoo,

L

Secretary of the Treasury,
Washington, D. C.

/0 — -

' ' rx
t

x

Dear Sir:
Referring to the Federal Reserve Act, which has now
■become a law and which authorizes the organization of federal
Reserve Banks throughout the united States, we beg that you may
give your favorable consideration to the establishment of one
of these federal banks in the city of Philadelphia.
Among the various reasons which can he given in favor
of this request are the facts that Philadelphia has always been
considered one of the most conservative and staid business and
financial centres of the nation, with hank resources of over
one "billion dollars, besides “
being the chief city in the richest
and most influential state of the Union.
Hoping for your favorable consideration in this matter,
I am,
Yours very truly,
CRL.




p * 1 '-

----------------------------------------------------------------------------------------------------- IIIIIHLLmilUili.,1.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

HENRY W. KRATZ,
President.

IRVIN S. SCHWENK.
Cashier.

CAPITAL $ 100,000

No.

2142

T H E N A T I O N A L

SURPLUS AND UNDIVIDED PROFITS $ 150,000

B A N K OF SCHWENKSVILLE.
Schwenksville, Pa.

&& / ? /3

J J m VW yJ/zJJctQo
J'/wt cQcmcC d h ftfa jfa z,
Jjfe 9j?cfer<z€
J?

'S c w J ts ,

/
C lh

f h

U

fi/ z t a /d

ffu^acC eJftJuci ct

Jo

ZO£>
c /& u J o

& ($£.

Ik a w c e .

cz 6Ua£y

(B Z H & 'L t C M c £
m'4 o u s ? c & 4
M

' c 7 6 (? v & c

Z /c w




f r f ( 9 tte
/M s

t € e # tt

(M*&.

C o

y/ Z g '~
c Z o € ta r z d .

a c e c 4 4 4 4 M o tftM ( £ ^ c tc z £ o &
6 a ^ f c t c J o u ^ /o

e4

/fr c i

4^^/c^y/77T7s

/%&$ y5e£fofr<
’S /o d e*, !% && tP fw w tr c<& <2&ice
&CZ(4^ 444 dfe
(fe a A

Reproduced from the Unclassified / Declassified Holdings of the National Archives

5 2 1 6

F. B. KELLER , Cashier

S.E.MENGLE,Vice President

C.C.LEADER, President

c a p it a l

! 5 0 ,0 0 0 .0 0

SURPLUS $ 1 0 0 ,0 0 0 .0 0

Dee-no^r 2}lt h,
^ e e .r e t n r ; /

of

th o

Treasury,
Washington,

V:'e m o s t
a




b e in g

1913

e a r n e s tly

designated

a

oeg

D.

of

F ederal

C.

you

/
to

consider

R eserve

Very

C ity,

respectfully,

Philadelphia,

P

from the Unclassified / Declassified Holdings of the National Archives

S d /k rv 0 t.

0 el *J e rU '

^ Q ). jfc e ty

f H 0 ,0 0 0 .

2667

a n j SW e r e
Hon.Williajn G.McAdoo,
Secretary of the Treasury,
Washi ng t or>,D •C ♦
Esteemed Sir;The’;urgency of Philadelphia ‘
beingj^®(^lnted for V n e t loca­
tion of a Reserve Bank ha© led us to appeal to yOxHtb— era1e your a ahi bt- ‘
ance to this end in behalf of the country hanks,of which class the un­
dersigned has been associated for over thirty years,for the following
reasons briefly submitted;Country banks would of necessity be constant borrowers should they cease
paying interest on deposits.
This experience has proven here,and a
banker from the South affirmed the same truth from conditions there.
Interest payments attracts money which must be profitably used during
dull seasons as well as during crop moving,etc.
HERE IS ONE GREAT AND
INVALUABLE SERVICE THE PHILADELPHIA NATIONAL BANKS HAVE RENDERED THE
COUNTRY BANKS IN AIDING WITH THEIR EVIDENT SUPERIOR CREDIT INFORMATION
THE COUNTRY BANKS TO SAFELY INVEST SURPLUS FUNDS AT ALL TIMES,and thus
ennable country banks to continue paying interest to their depositors.
It is evident to you that a small country bank can unaided secure
only the most meager and imperfect information of the commercial paper
for sale by an eager and irresponsible note broker.
We are under the
impression that business men who sell their paper to Phila banks are re­
quired to report all such loans to the Clearing House,and thus all mem­
bers of the Clearing House have reliable data,so that dangerous a,mounts
of such paper cannot be negotiated*
Under the provisions of the new Currency law,we note that bank exam­
iners are under severe penalty for revealing the names of borrowers.
Discreet information from bank examiners,who have noted the dangerous
inflation by loans of business men and firms in this vicinity,have saved
this Bank frequently from great loss and serious entaglements*
If we
are to be deprived now of this helpful channel of information\and if by
reason of the withdrawal of our reserve and business relations from Phila
owing to location of our Reserve Bank locating elsev^here, the condition
of the country banks will be like that of a country physician deprived
of the larger resources and practice of the expert Phila surgeon^or like
the country store cut off from it’
s wholesale house;or of a distressed
client deprived of his experienced attorney at law.
Every business man is familiar with your remarkable success in New York
where you accomplished what experts affirmed could not be done,and shat­
tered precedents;but am confident that you would advise for those less tal­
ented, and on whose wise and safe conduct of business the savings of hun­
dreds of needy depend,THAT IN THE PATH OF WISE EXPERIENCE AND OF WISE COUN:
SELORS is the best rule*
We believe you will make it infinitely more
attractive for hundreds of country banks to enter the new system by con­
tinuing the long, successful and honestly earned honor of Philadelphia as
a reserve center.
Your favoatable consideration will add v e r y much to
your already most enviable esteem from thejbanking and business public*
Respectfully submitted,



Reproduced from the Unclassified I Declassified Holdings of the National Archives

$ n 0 ,0 0 0

Secty^* of the Treasury,
Washington, D. C.
Dear Sir:-

^
Since our hoard of directors will most probably accept the

provisions of the Federal Reserve Act, and since Section 2, of said act
provides for the apportionment of the districts, "with due regard to the
convenience and customary course of business”, we most urgently request
that you designate the city of Philadelphia as one of the Reserve cities.
All history, experience, and convenience of location has
made Philadelphia our best adviser and assistant

in all channels of

trade, and. also a day or more earlier to reach than any other city of
the East Atlantic states.

Oweing to the prompt shipment of currency,

our reserve has been better maintained, also repayments to redemption
account, and from superior credit information which a country bank
could not afford to maintain, the Philadelphia banks are invaluable
in matters of advice in purchasing commercial paper and securities.
With our earnest hope that you may find your way clear to
accede to our request, I am,




Very t r u l y y o u r s ,

P"

:■ ....... -

.

.........

Reproduced from the Unclassified I Declassified Holdings of the National Archives

B. F . H A R L E Y , P res.

C H A R L E S P. U LR IC H , V ice P res.

K. C. W A L T E R , C ash ier.

$Jn. 9653
X L h c

jfarmers' IFlattonal Bank
of

Sf?e/inb<jprowe, SPm.,

T*QC• 24,1913.

Hon.Secretary of the Treasury,




Washington D.C.
Dear Sir,—
Philadelphia being a great business
center and because of its financial strength, and
honorable record of the past, should be en titled
to a Federal Reserve Bank.
Hence in our opinion Philadelphia
should be designated as one of the Federla Reserve
Cities*
Very Pespt.

FARMERS M TIONAL BAM,
S E LIN SGROVE, PA.

Reproduced from the Unclassified I Declassified Holdings of the National Archives




. 357

O R G A N IZ E D

1 8 6 4

lR S T N A T I0 fJ A L
'

S elins G r o v e

C

CAPITAL SSO.OOO

o

i m

c

o n \ / c

SURPLUS AND PROFITS $ 1 0 0 ,0 0 0

Selins Grove, Pa.,
"O'—

~

&

191 ”
3

F 1-

1

•

Reproduced from the Unclassified / Declassified Holdings of the National Archives

W. A. A D D A M S, P r e sid e n t
CEO. H. STEWART, V ice P r e sid e n t
O
J . E. CEESAMANis C asfiier

8 3 4

CAPITAL,
$ 7 5 ,0 0 0 .0 0
SU R PLU S, $ 1 1 0 ,0 0 0 .0 0

THE FIRST NATIONAL BANK

SHIPPENSBURG, PA.
December, 27* 1913*
Hon. William G. McAdoo,
Secretary of the Treasury,
Washington,
D. C.
Dear Sir *
In the appointment of the Federal Reserve Banks,
we respectfully ask that you select Philadelphia as one of these Reserve
Cities,<&>C't being one of the great collection centers, is the third largest
in bank resources and deposits, and is one of the most constructive and
conservative cities of the nation. We believe it is entitled to be selected
as a Reserve City, and respectfully petition you to select it as such.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

&LFREDA. AUGH^

'JGH, President.

The




HOWARDA. .

a t io n a l

Ba n k

C
’R. Cashier

Reproduced frorn'tlie;'

ALFRf

UGHINBAUGH, President.




VDA. RYDER. Cashier

T h e P e o p l e s Na t i o n a l B a n k
OF

S H IP P E N S B U R G .

SHI PPENSBURG PA.,.________
___

<2

V

191

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C. H. SMITH,
P R A N K

PRESIDE NT.

D IC K IN S O N ,




v ic e

A. H. BAILEY, c a s h i e r .
P- A-CARLSON, T E L L E R .

6193.

*p r b .

T h e

S h e f f ie l d

K a t io k a l B a n k

COMMERCIAL a SAVINGS.
C A P IT A L

$

5 0 .0 0 0 .

S U R P L U S

S

#

5 0 .0 0 0 .

h e f f i e l d

,P

a

. Decenter 26th, ,1913

Hon Willian G McAdoo,
Secretary of Treasury,
Philadelphia, Pa.
Dear sir*~~
In the distribution of The Federal Reserve
Bariks,we hope you will consider very favorably the
City of Philadelphia, Pa aa one of the points.

This

dty will accomodate to better advantage all of the banks
in this par£ of the country,as nail leaving this part
in 4he evening will reach Philadelphia in the norning,
and nail leaving Phila in the evening,will reach us
in the norning,thereby handling our banking business
i
to better advantage,than leaving that city out.
We hope to hear that you have designated
Philadelphia, Pa as one of

the Reserve Cities.

Thanking you for the consideration,
Yours truly,
Sheffield National Bank,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

BeIfeting "“
the City of Philadelphia to be centrally loca­
ted in £ .financial district or zone, second in size, wealth
and importance Tto none in the United States, it is respect­
fully urged that one of the eight or more Federal. Reserve
Banks, provided for in the new Act of Congress, be placed
there.
The financial history of Philadelphia discloses that
there has been less unrest in that city in banking circles
in times of panic and strain than in any other large com­
munity in the Country. The prominent bankers of that city
have been ever jealous of their we&l known reputation for
conservative policies and practices.
Philadelphia is now the banking centre for the largest
field of outside banka in the Country, i. e., the territory
directly served by Philadelphia reserve agents includes a
greater variety of individual and industrial interests than
any other, it is nearer to the laborer and producer. Ilew
York has been important principally on account of the con­
ditions surrounding our present banking system. The nec­
essity for large reserves in Hew York from the Pennsylvania
territory is almost entirely artificial.
This section of the Country is its richest in point of
mineral wealth and should have a financial centre of easy
access - Philadelphia is such a centre. Ko State in the
Union contains so many large communities as does Pennsyl­
vania, whose mining and manufacturing products accommodate
the world. The real, normal and natural trend of this trade
is with and through Philadelphia.
Y/e believe that the establishment of a Federal Reserve
Bank in Philadelphia will represent a real centre of trade
and finance - greater in extent and unfictitious resource
than any other.
Respectfully submitting these suggestions for consider­
ation why Philadelphia should be selected for a Reserve Bank,
I beg to remain
/,




Reproduced from the Unclassified I Declassified Holdings of the National Archives

J .S . KISTLER,Pfl£s/o£/»r.

P x e s io e n T .

P.J.G AUG H AN,
CAPITAL

J . W. H O U G H , C * s n /e n .

$100,000.

SU R PLUS $ 185,000.

Dec.

25, 1915,

To the S ecretary of the Treasury,

A

Washington, D. C.
Dear S i r : As a country bank located a hundred miles from P h ila d elph ia
we desire to request you to consider the cl ItAm of t h a t c i t y fo r
a f e d e r a l Reserve Bank,
Every country bank in the s t a t e of Pennsylvania with the pos
s ih ie exception of those a few miles from Hew York, has for years
looked to P h ila d elp h ia for a l l kinds of a s sistan ce in a banking way
and has received d>t«
Now t h a t the Reserve banks in th at c i t y are more or l e s s
done a-way with end we sh.

11

have to look to the Federal Reserve

bank for th e aid we have prev iou sly received from our reserve banks
th e re i s no c i t y t h a t could p o s s ib ly understand the needs of th e
country bankers in t h i s State as well as P h ila d elp h ia .
We t r u s t t h a t P h ila d elp h ia w i l l be designated, end we know
t h a t t h i s w i l l meet with the approval of every banker in t h i s
State and those adjoining.




Yours t r u

Reproduced from the Unclassified / Declassified Holdings of the National Archives

60-856

M

c D

o

w

E

n

m

n

o

s A

L

B

a

n

k

’ $
O F F IC E R S :
AMcDOWHXiPhes.
F.W.KQE HLETt,V. Phk S
[I.B .M cB O W E IL , Cashikh .

SH A R O N , P A .

H on*

D ecem ber

W illia m
G* M c A d o o ,
S e c r e ta r y o f th e tr e a s u r y ,
W a s h in g to n ,

D ear

S ir : -

ju s t

p a ss e d ,

In

c o n n e c tio n
w e

D*

w ith

C*

th e

r e s p e c tfu lly

C u rren cy

u rg e

upon

P h ila d e lp h ia
b a n k s,

and

a lr e a d y m a k e s
fin a n c ia lly *

th a t

She
w o u ld

th e

d o v e ta il

c it y

o f
in to

and

p ro p er

a

c it y

on e

n ic e ly

e s ta b lis h m e n ts
a t

a

lo c a tio n

p a c t

u n it

I s

lo c a tio n

w o u ld

o f
o f

a

g iv e




I-.-t»-

one

e x c e p tio n a lly
th e r e

im p o r ta n c e

bank

e x is tin g
th e

th e

a s

M in t

p r im e

Hese r v e
th e

th e r e
fin a n c ia l

c o u n tr y

a

cos*-

p la c e *

B e s p e c tfu lly

,~orm

o f
th e

£aw

you

a d v is a b ilit y o f d e s ig n a tin g P h ila d e lp h ia
o f th e F e d e r a l E eserv e c it ie s *

good

l^ t 3 *

y o u r s,

i
C a s h ie r ,

Reproduced from the Unclassified J Declassified Holdings of the National Archives

W . H . T JN G k.

W. LLOYD SN Y .

it

U n ger & Snyder
A T T O R N E Y S -A T -L A W

241 W e s t

S p ru c e S tre e t

B o th P h o n e s

Shamokin, Pa.

December 24# 1913
Secretary of tlie Treasury,
Washington, D. CU
Dear sir:-

ru

The local National banks - especially in the Eastern
part of the State of Pennsylvania - are greatly interested that
Philadelphia should be made one of the reserve cities under the
new Currency Bill, and as President of the Market Street National
Ban$ of Shamokin, Pa., I respectfully request and urge your as­
sistance in this direction.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

D«c. 27, 1913.
Hon. Willia,m G. McAdoo,
Secy* of the Treasury,
Washington, D. C.
Dear Sir:
As Philadelphia is the natural reserve city for this sec­
tion of the country we are very desirous of seeing it named as
headquarters for one of the Regional Reserve Banks under the new
Federal Reserve Law.
1 have been directed to write you to this effect by our
■^oard of Directors and we sincerely trust that your committee will
see its way clear to recognize the importance of Philadelphia as
a financial centre

by naming it as one of the Regional Beserve

centres.
Thanking you for your courtesy and extending to the pres­
ent administration our best wishes we beg to remain




Very truly yours

Reproduced from the Unclassified I Declassified Holdings o f the National Archives

W.H.UNGER,. Pres.

M.G.STIEF, Vice Pres-

Th e M h r k e t S t r e e t N j t i o n / i i B h n k ,

SmmoKiJV, Pa.

_
,
December

31

^913

Hon. William G. McAdoo,
Secretary of the Treasury
Washington,

\

J). C,,

Sear Sir:~
I writ;© you requesting that you use your influence to have
one of the new Federal Heserve Banks located at Philadelphia, Pa#
The hanks in this locality have been acciistomed to use Philadelphia
!lational Banks almost entirely as Heserve Agents and for the handling
oC checks &c. drawn upon all distant points.

Philadelphis is nore

convenient to us for banking, uses than any other large city.

In com­

parison with other large centres, Philadelphia stands well to the front
c in the volume and multiplicity of its business transactions*
I sincerely hope that "Our”Reginal Heserve Bank will be located at
Philadelphia, and I earnestly solicit your consideration of the matter.




Thirteenth Annual Report
OF

H e market street National Bank
p r o g r e s s of t h e

Date
December 31,
December 31,
December 31,
December 31,
December 31,
December 31,
December 31,
December 31,
December 31,
December 31,
December 31,
December 31,
December 31,

1901
1902
1903
1904
I9°5
1906
1907
1908
1909
1910
1911
1912
I9 I3

Ba n k

Deposits
$ 172,813 80
175,426 56
269,022 15
307,909 42
385,532 81
386,825 70
393,451 86
421,803 63
452,927 70
422,226 00
556,120 86
628,565 75
657,315 06

Net Profits
$ 8,672 92
22,131 11
*29,616 98
*37>j56 61
*47,576 39
*61,094 30
*71,731 09
*83,434 83
*97.572 59
* 109,199 58
* 122,570 34
* 136,668 34
* 150,688 44

*After paying dividends

O F S H A M O K IN , PA.

M . G. STIE F, Vice President

December 31st, \ 9\ 3

W. M . T IE R , Cashier

RESOURCES
Loans and Investments .

.

.

.

Bank Building, Furniture, Fixtures

25,500 00

Due from B a n k s ...........................

10,046 99

Cash and Reserve . . . . . 114,408 27
$ 1,016,797 81
LIA BILITIES

3% pet annum

Interest Paid on Time Deposits



Surplus and Profits (Earned) 150,688 44
Circulating N o t e s ...........................

98,750 00

Due to B a n k s ................................

5,044 31

Dividend, January 1, 1914 .

5,000 00

,

.

'DIRECTORS

$866,842 55

Capital S t o c k ................................ $ 100,000 00
g@“ 0 n account of the universal depreciation in
the value of bonds, $4,500.00 was charged off
and taken from the profits of the year 1913.

W. H . UNGER, President

REPORT OF CONDITION

Deposits . ......................... 657,315 06
$ 1,016,797 81

W . H . Unger

M . G. Stief

I. C. Bttrd

J. A . Wert

M . G. Reager

Dr.M.J.Flanagan

John Glowa

Albert Lloyd

J. P. Haas

E. M . Emrick

J. W. Kessler

G. O. Shoop

G .T . Semmons A . E. Kehler
M . Croninger

Warren Unger
O. K . Wetzel

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Depositary of the United States and
the State of Pennsylvania

Reproduced from the Unclassified

I Declassified Holdings of the National Archives




Reproduced from the Unclassified / Declassified Holdings of the National Archives

E on#

W illia m

0 .

M cA doo,

S e c r e ta r y

o f

th e

fr e a s u r y ,

W a s h in g to n .
B ea r

Q .

*3

S ir : We

b e

s e le c te d

o f

one

o f

J d tii
a t

th e

in

one

th e

o f

r e q u e st

th e

fe d e r a l

c it ie s

S e se r r e

th a t
fo r

B anks

P h ila d e lp h ia
th e

lo c a tio n

u n d er

th e

new

la w *
P h ila d e lp h ia
is

one

o f

i s

th e

c lo s e s t

t e r e s t s
in g

th e

p la c e s
o f

th e

S ta te

s t a te s

and

I s

b ig
o f

P a tr io tic

so n

o f

i t s

p r e -e m in e n c e

and

to

p a ss

m ent

to

b a n k in g

b y

g illio n s
and




w ho

g e n e r a l

to

c it ie s

in

I t s

b e
to

b a n k in g

p r id e

w ill

o f

w o u ld

in
b e

u se

th e
a

i t

im p o r ta n c e

s e le c te d .
th e

P c m s y lY a n ia

th ir d

d e p o s its .

i t

r e a so n

n a tu r a lly

th e

in

b y

and

la r g e

n a t io n s

in ­

n e ig h b o r -

r e so u r c e s

ch o o se

I t

i t

and

b y

r e a ­

h is to r y

g r ie v o u s

d is a p p o in t­

a s

c e n tr e

b u s in e s s .

th e ir

fo r

Reproduced from the Unclassified / Declassified Holdings of the National Archives

<Lhc <£xtxzjen&




arui.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

E. ARMSTRONG,
.... ■—

President.
---■!.. 'S a a W g j

H’ h ^ r t L L D , VtaTSa& T

8 5 9 1

Tllw (hmn$? $&txmxnl%mxh

fc. E. DRAKE a*h«cr

o f

M 5 K e a n

C o u n t y

S m e t h p o r t , P a .
|NG. A. CARLSON, /.^i. Cash.

6 01,11.117

D- ^

100 000
26 0 0 0

C a p ita l $
,
.
S u r p lu s $
,
.
- PRF_aLB ENT
A-B A B M M O W IC m r r - w

r-

Baoasibtr 30,

Seoratary of A*riculturaf

W9j0htng%*at B, C„
I^r d*ar

Sir:
The drawga National Bank

of UcKean County at
Smethport,
, haa §im« ita o#gi*3tl*&tioft kapt a pmet of
tha *a#a:rra of tha bank in erne &f tha l%ii»4«Xphia hank*.
▼a daaire very much to have ona of the Raaerra "Banks loaated
at PhiladalpHla, undar tha ®*| banking law*
▼e ry

11D-Y




r

T

Reproduced from the Unclassified I Declassified Holdings of the National Archives

\

i

E. P .W IL B U R

T R U S T

C O M P A N Y

SOUTH BETH LEHEM,PENNSYLVANIA

W. A . W I L B U R
P R E S ID E N T

December 27th, 1913.

Hon. William G. MoAdoo,

_

if

Secretary of the Treasury,
Washington, D, C.
My dear Sir:
As representing the 1, P. Wilbur Trust Company,
one of the most important financial institutions of last
Central Pennsylvania, located in the Congressional
District of the Hon. A, Mitchell Palmer, who will undoubtedly
bear out my above assertions, I would most respectfully
urge your Department in the establishment of a Federal
Reserve Bank in Philadelphia, as that establishment would
be of manifest value to the Institutions of the Lehigh,
Schuylkill and Delaware Valleys.

Philadelphia is, as

you are aware, the only one of the large cities to grant
free collections of checks to its out-of-town correspondents,
and the Philadelphia banks have, in our knowledge, for
the past forty years been most broad and liberal in their
treatment oftheir out-of-town corresponding Institutions.
I am enclosing herewith copy of a statement prepared by our
valued correspondent, the Philadelphia National Bank,
showing Philadelphia1s standing in the Banking World of the




Reproduced from the Unclassified I Declassified Holdings of the National Archives

H on.

W illia m

S .

United States,

M cA doo.

H o.

2 .

1 2 /2 7 /1 3 -

Owing to the above statement, I believe

we are warranted in requesting your Department to the
establishment of a Federal Reserve Bank in Philadelphia.
X am enclosing herewith copy of a letter addressed to our




Reproduced from the Unclassified I Declassified Holdings of the National Archives

THE PHILADELPHIA NATIONAL BANK
Philadelphia, Pa.
Philadelphia’
s Standing in tie Banking Y/orld in
shown in the following table
Total Banking
Resources
NEW YORK $4,728,000,000.
CHICAGO

Net deposits
of National Banks
$1,079,000,000.

1,182,000,000,

Philadelphia 1,065,000,000.
BOSTON

°

358,000,000.
281,000,000.

893,000,000.

236,000,000.

5 31,7 00,000.0

17 9,000,000.

SAN FRANCISCO

492,000,000.

120,000,000,

ST, LOUIS

422,000,000.

102,000,000.

Baltimore

281,000,000.

61,000,000.

DENVER

90,000,000.

44,000,000.

SEATTLE

41,000,000.

33,000,000.

WASHINGTON

116,000,000.

28,000,000.

NEW ORLEANS

115,000,000.

25,000,000.

50,000,000.

22,000,000.

PITTSBURGH

ATLANTA




°Not including Trust Funds #855,000,000.00

Reproduced from the Unclassified I Declassified Holdings of the National Archives

December 37th, 19X3.

Hon.

Mitchell Palmer,
Stroudsburg, Pa.

My dear 23ir:
As representing one of the largest financial
institutions of your Congressional District, I f * | a l _ ^ - _ ^ __
warranted in addressing you on the importance to [ouj I^'"^^
•

general financial community of having one of the jeigh'tf *tnP
i
«

^5

>

twelve Federal Reserve Cities* provided by the new-ffoj^ency
Bill, located in Philadelphia.

Philadelphia City

occupies the third place, both in banking resources and
total deposits, in the United States.

• I am enclosing

herewith a statement prepared by our valued correspondent
for forty years, the Philadelphia national Bank, shoeing
Philadelphia*s standing in the Banking World.

After

ref err ini- to the above facts, 1 would respectfully urge
your valued cooperation in approaching the Hon. William
<J. KcAdoo, Secretary of the Treasury, in the request that
Philadelphia be made one of the reserve cities under the
new Currency Bill.

I am enclosing herewith copy of letter

a -dressed to Hon. f/m. G. McAdoo, Secretary of the Treasury.




Very t r u l y y o u r s .

I

(

Reproduced from the Unclassified / Declassified Holdings of the National Archives

A.

G.

REIFF,

PRESIDENT

T h e

J-

No. 2333
U n io n

N a t io n a l

OF

LANDES,

B a n k

SO DDERTO N

\

Souderton, Pa. ^

To the Hon ,Willi

27 th 1 9 1 3 >

G. Me Aloe*

Secretary of the Treaeniry,
Washingt on #D. a.
My Dear sir:- We beg you t<? select
the City of Philadelphia *Pa fmm one of the aitiea in which you are
about to e«tabli«h a Federal Reserve Bank,
If for no other reason then to a
1

anl




©** con>rei$ence.

' s ' .

59U
\
5

t*
,
..- / V - ...
- " , n p ! w v">^'" ,1

j

•

i

CASHIER

Reproduced from the Unclassified / Declassified Holdings of the National Archives




Seoretar^ of tha ?raa*mr^t

m \**<g to go oa rooord an f&?orln£ tha eatefoltch-

roont of ono of tin n<*» regional reaorf® tmnfci* In the olty of
l*hUaMphlat and imr rm m n fl&r Xavorlm the c a w li oa aooomnt
of th# oXom t>i2slo»8» rol&tlow that axiet
tfco oo«atr^ :tf\d

oity of

our eeotlon of

and wa feel that fbr

banks particularly In this ration th» fcoat aervid* would be cl ton,
aa® hope the Organ* mtSott fjoiaeittae may #eo their way clear to onta&ilih a Ijaak it TMXaftalpMa.
Vtwy tnal^ jronrs#

&T7 / < ? / ' y .

JA N S W E R E D j
I

j;.r; ?

ism.

I

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Hecurilg %vm t dompanp of #traui>slwr0
C A P I T A L F U IiliX P A I D , $ 125,000.00

P. R. J0HITB05, PHESIDim
J. A. SINGER, TIC* PHISIDENT
J. I>. SEHFAS, VlOK PRESIDENT
FRASK B. MICHAEL8, TBEA8DHEB
S. F. SHIPPEH, TELLKB
S t r o u d s b t j h g , P a .,

Jan# 5 , 1914

Hon. um* G, McAdoo, Sec. of The Treasury,

/

Washington, D. C,
Dear Sir:
From the stand-point of a country bank, we believe that a
Federal Reserve Bank should be located in Philadelphia.

Our principal

reason for this is based upon the splendid facilities offered by that
city for collection of checks upon all parts of the world,

There are,

of course, many other reasons which it is unnecessary for us to go
into at this time but we trust that you will give the matter fair con­
sideration and use your influence to have one located there.




Very truly yours,

Treasurer.
k

j

Reproduced from the Unclassified I Declassified Holdings of the National Archives

W E !
JOHN
JA M ES

F. D E R R ,
C.

I t a E O T l f t E i l l H m K f t S r K i H ' S m r B H K T
N o. 1237

P resid en t.

w - F- R H O A D S , C a s h i e r .
D . E . B L O O M , A s s t C a s h 'r .

P A C K E R , V ice Pr e s id e n t .

E S T A B L IS H E D

1831

ffiDWiSTcnr^JHfcu

January ?th. 1914.

Hon. Wm. Gibbs McAdoo,
Secretary of the Treasury,
Washington, D. C.
Dear Sir:Please consider favorably our plea for the
establishment of one of the new regional reserve Banks
in the city of Philadelphia.
Our reason for making this plea is because
of the close business relations which exist between
our part of the state and the city of Philadelphia.




We feel that for Banks^ particularly in this
region^the best service would be rendered by the
establishment of such a bank at Philadelphia and hope
the Organization Committee may see their way clear so
to do.
Yours very truly,
cci
Cashier*

Ia K
IQi .

Form

i

b '

Reproduced from the Unclassified I Declassified Holdings of the National Archives

C R .A S B L O O M , P „ . . .

“

R E .M E N S N Y 1 .E R , V ic . P , . . . ,

P A I D U P C A P I T A L , $ 1 5 0 ,0 0 0 .

S u n b u r y T r u st

and

*•

M ORGAN. T « . . .

S U R P L U S , $ 1 5 0 ,0 0 0 .

S a f e D e p o s it Co.
S u n b u r y , P a .,-J a n u a r y

9 t h , ---------- 1 9 1 4 .

Hoa* f* d. MoAdoo,
S e c r e ta r y o f th e
V ash iag to a* S* C*
D ear S i r : We ta k e th a l i b e r t y o f a d d r e s s in g 70m l a f a v o r
o f th a l o c a t i o n i n th a C ity

o f th e

fte g ie n a l Banka r e o e a t l y a a tfc o ria e d b y A at o f c o a g re a s*

Wo

do t h i s f o r th a re a a o n t h a t th o r a e c u rc e e an d d a p o a ita o f
th a P h ila d e lp h ia Banka r a t a a b o u t t h i r d a n o p g st th o s e v e r a l
o l t l a a l i k e l y t o m t l f t th o o o a a id e r a tio n o f y o u r Co m i t te e *
f o r th a l o c a t i o n o f a a id K e g io a a l Banks*
f h i a Company h a a b een engaged i n b a s i a s s s f o r more
th a a tw e n ty y e a r s aa d p r a c t i c a l l y a ia a ~ te n th s o f o a r o u ts id e
b u s in e s s i s co n d u cted th ro u g h th a P h ila d e lp h ia Banka*

Tho

p r o p o r tio n o f feo sla aa s o f t h i s n a tu r e I s n o t p a o a l i a r t o t h i s
Coapaay h a t wo f l a d f r o a in q u ir y aad p a r a o a a l knowledge t h a t
a l l th o boaka l a t h i s v i c i n i t y r o l y upon th a P h ila d e lp h ia
Banka f o r a a a r l y a l l t h a i r o a ta id a o o llo o tio a a o f oheok8,e te «
P h ila d e lp h ia , o f a l l la r g e C i t l e a , h aa b een th o o a ly
oaa to g raA t th a f r e e o o l l a o t i o a o f checks to i t s o u t-o f-to w n
c o rre s p o n d e n ts a a d th o p o l i o i a s o f i t s hanks i a o th e r r e a p o o ts
have b een b ro a d aad l i b e r a l *

I h a t th e f a o i l i t i o s g r a n te d by

i t s hanks have b een a p p r e c ia te d b y th e b a a k s r s th ro u g h o u t th o




(1)

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C R IA S BLO O M , P m t .

G E O . B . R E I M E N S N Y D E R , V ic e P r e s t.

P A I D U P C A P I T A L , $ 1 5 0 ,0 0 0 .

S u n b u r y T r u st

S U R P L U S , $ 1 5 0 ,0 0 0 .

S a f e D e p o s i t Go .

and

S

U n ite d S t a t e s

is

u n b u r y

sh o w n b y tits l a r g e

h as been e n tru s te d

to

O w in g t o

th e ir

th e

c o m m en d t h i s
lo c a tio n

in

th is

C ity

r e s o u r c e s afcd d e p o s i t s

fa v o ra b le

o f th e P h ila
p ro p o rtio n

we m o st e a r n e s t ly

c o n s id e ra tio n a s an id e a l

s a i d R e g i o n a l B a z ik s*

th a t th is

c o n s id e ra tio n *

191

su ch a la rg e

s ta te s ,

y o u r fa v o ra b le

f o r one o f th e
tru s tin g

Pa.,

ca re *

and a d jo in in g

to

,

a m o u n t o f b u s i n e s s w h ic h

d e lp h ia B a a k i an d t h e i r c o n v e n ie n c e to
o f b u s in e s s

E . C. M O R G A N , T r e a s.

m ay r e c e i v e

your c a re fu l and

we a r e .

R e s p e c tfu lly y o u rs ,

SUHBURY 2EUST AID SAFE DKPOSIT COMPANY
P re s id e n t*
u b

/

f




Reproduced from the Unclassified / Declassified Holdings of the National Archives

EDWARD B. TEMPLE,

CHARLES D. JOYCE,

President

Vice-President




C. PERCY WEBSTER,
Cashier

7193

iw a ritim o re

N a tio n a l

la n k

&urartljmore, JJa.

December 26th 1913

Honorable William G. McAdoo,
Secretary of the Treasury,
Washington, D. C.
Sir:We heg leave to address yon with respect to the
establishment of Federal Reserve Bank in Philadelphia.
The Philadelphia banks have been of great service
to banks
to this community as well as/\throughout the State and
to Maryland and Hew Jersey as well. Philadelphia has
always been regarded as one of the most conservative and
constructive cities of this Nation and we earnestly request
that you give the establishment of a Federal Reserve Bank
there your most sincere consideration.

Respectfully yours,

// Cashier.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

J.

K. N E W E L L , Pre sid e n t

H .P. N E W E L L , C a s h ie r

Q lhe $x&% zjexi& H a i i x m s t l p a m k
OF

TO W AN DA, PA.

-K CP

December 24th, 1913 .
*

Hon. Secretary of the Treasury,
Washington* D. C.
Sir:From tae fih&ncial strength of Philadelphia
and ’
i ts central location we hope it may be decig
nated as one of the Federal Reserve Cities under
the new Currency Bill.

Nearly all of the banks

from this part of the state keep their reserved
there and it would be a great inconvenience to
us to be deprived of that privilege* therefore,
we hope you will so designate it.




Bsspectfully yours,

President.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

CAPITAL STOCK $25,000

6117

SURPLUS EARNED $40,000

THE

TOWER CITY NATIONAL BANK
C .

M. K A U F M A N ,

P r e s id e n t

A.

D .

L E W IS .

W.

C a s h ie r

F.

KNECHT,

V ic e

P r e s id e n t

Tower City, Pa.,

Bee. 24th. 1913 .

\'

f

Hon. ¥. F. McAdoo,
Sec.of Treasury,
Washington, I). C.
Dear Sir:-

We take this opportunity to inform you that in the

selection of federal reserve cities, our interest will he hest served
if Philadelphia, Pa. was selected wtio aelgotuG. as one of those cities.
In consideration of the financial situation in this district as
we view it, we can heartily recommend the above mentioned city.




Yours very respectfully,
President.

IN E. W E A V E R ,

P R E S ID E N T .

GE O . C . Y O U N G M A N , c a s h

*

ie r

.

T^rbotville H a t i o n a l B a n k ,
I h r b o f v f f le if k i. Dec 2 9 /1 5 .
o
G--

'

To the S e ce tra ry o f the T reasury,
S e creta ry o f A g r ic u lt u r e &
The C om p troller o f the Currency, Committee
Washington, D .C.
Gentlem en:Having conducted the bulk o f our out o f town
b u s in e s s , ever sin ce we have been d oin g b u s in e ss as a n a tio n a l
bank, through P h ila d e lp h ia banks and re c o g n iz in g the importance
o f P h ila d e lp h ia as a c o r n e r c ia l c e n te r, we w ish to add ou r.
re q u e st, to no doubt many o th e rs, f o r the lo c a t io n o f a
R egion al Reserve

Bank in P h ila d e lp h ia , Pa,

We b e lie v e th a t P h ila d e lp h ia * s p o s it io n as the
t h ir d c it y in the U .S .

w ith i t s

many f a c i l i t i e s fo r s e rv in g

country banks, a system which has been b u i l t up through many
y e a rs o f c a r e l f u l study o f the needs o f the banks and ^ h e ir
customers, as w e l l , make i t

one o f the n a tu ra l lo c a t io n s f o r

a R egion al Be serve Bank.
T ru s tin g th a t you may recogon ize the needs o f
Pen n sylvan ia and a

v a s t t e r r i t o r y in other S ta te s f o r which

P h ila d e lp h ia would be the n a tu ra l lo c a t io n f o r a Regional, R eserve




Reproduced from the Unclassified / Declassified Holdings of the National Archives

j u n k e t s *
PR ESID EN T:
P r e s i d e n t

M ONTGOM ERY
N o r r i s t o w n

V ic e - P r e s id e n t :
C a s h ie r

F ir s t

T r u s t

EVANS,
C o m p a n y ,

C

l_. T . M c F A D D E N ,
N a t io n a l

B a n k ,

A. D. SW IF T .

TREASURER:
N o r r i s t o w n .

a s h i e r

E lk

S e c r e t a r y :

C a n t o n .

C

O f f ic e

o f

a s h i e r

C o u n t y

N a t io n a l

B a n k ,

R iog

D. S. K L O SS,

F ir s t

N a t io n a l

B a n k ,

T y r o n e .

S e c r e t a r y .
T y r o n e , P a .,

December 2 6 , 1913 .

Hon. W.G. McAdoo,
Secretary of the Treasury,
Washington, D.o.
Dear Sir;
In writing I believe I express the views
of the entire membership of the Pennsylvania Bankers
Association, when I say that we feel that Philadelphia
should be chosen as one of the cities in which should be
placed a Federal Reserve Bank.
I know you will re­
ceive many communications along this line but seems to me it
should be patent to the Committee that a City the size of
Philadelphia,and with banking connections such as is enjoyed
by the national Banks of that Oity, shoudl appeal to those
In power as entitled to a Federal Reserve Bank.
The
greater majority of the banks in Pennsylvania have banking
connections in that Oity and in my position as Secretary of
the State Association I find there is no place where all
lines converge as much as to our Oity on the eastern part
of the State which from a historical, commercial and business
stand-point is always destined to be a great Oity in this
United States.




Holdings of the N a tio n a b S ve s

WM.

FUOSS.

PR E S ID E N T

O.

W.

STRONG.

No.

V i ce

presi dent

JO H N

S . G IN T K F

6499

J f a r m w a a n d J H m t j a n i a National S a n k
OF

TYRONE,

PA.

December £ 7 , 1913 .

Hon. #• G> McAdoo,
* Secretary of the Treasury,
Washington, D. C«

Dear Sir:
Looking over the list of cities from which you expect
to select the Regronal Bank and Reserve cities, I find
that Philadelphia is not included . This city stands
third in the United States as far as resources are con­
cerned and would be an advantage to all the Pennsylvania
Banks to have this city selected as one of the reserve
cities.
Surely a great state like Pennsylvania cannot be over­
looked when it comes to a selection, and I trust your
committee will give this matter your serious consideration,
I would be pleased to have you send me an application
blank for banks desiring to J&in this new system.




CA

H ER

Reproduced from the Unclassified / Declassified Holdings of the National Archives




Th e B a n k

of

Wa y n e s b o r o

W a y n e s b o r o ,P a .
C A P IT A L $ 1 5 0 . 0 0 0 0 0
J .J .O L L E R ,
A.E. P R IC E , V i c e

P re sid en t
P re sid e.a t

S U R PLU S ^ 3 0 0 . 0 0 0 . 0 0
J G.B ENE .DIC T, V i c e P r e s i d e n t
M. E . S O L L E N B E R G E R , C a s h i e i '

December 34,1913.
H o n .Wm. 0. tfcAdoo,
Secretary of The Treasury,
Washington, D.C.
Dear Sir:
We desire to call attention of those to whom
is given the designation of the Federal Reserve Cities,
to
under the new Currency Bill,the claims of Philadelphia
as one of the Reserve Cities. It is a business center
for a large,productive and active territory,including
all eastern Pennsylvania,southern New Jersey and eastern
Maryland and Delaware.

The City’
s financial strength

and its history certainly entitle it to careful consider­
ation as one of the cities designated. In the interests
of the large country papulation who look upon Philadelphia
as their City of business activity,we hope that it may be
named as one of the Reserve Cities.
Yours very truly,

Cashier.

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C A P IT A L

$

100,0 0 0 ,

P eo ples

SURPLUS

4 1 7 5 .0 0 0

R a t io n a l B a n k ,

W A Y N E S B O R O , P E N N A ..
W . T .O M W A K K , P # e s t .

F. P O R T H M A N ,

V ic e -P r e s t .

J . H . S T O N E R , Ca s h i e r .




December 31 st. 1913

Mr, William A. McAdoo,

l

Secretary of the Treasury
Washington, D. 0 .
Sir:This bank very m o h desires that your Committee
will decide to locate a Regional Reserve Bank in
the City of Philadelphia and we hope that it will
be your pleasure to *do this*
Everyone knows, of course, the importance of
New York City, but we trust that you will not allow
tlie preponderance of that great metropolis to over­
shadow the claims of the City

of Philadelphia,

Ve*y truly yours,

Cashier,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

D.W.HESS, Preside

W. H.GELBACH , Cash!

EZRA FRICK.V,

/ / / / / / /:v /r /r

y/

v

December £6, 1913.

Hon. William (J. McAdoo / Secretary of Treasury.,.
Washington,- -I). C.
Hon. Sir:The above institution is interested in
the selection of Phi lad pd pVfi a.. ^ a o n e of the Federal
Reserve Cities ana we solicit most heartily your
consideration of favorable selection of a F e d e r a l
Reserve Bank in Philadelphia.
In all our banking experiences we have
found Philadelphia the most helpful of all our- Re­
serve Cities for the prosperity of this institution.
Thirteen years ago this bank was organized with $100
paid in stock v^Meh to^ay in the market is $.225, and
we attribute a large measure of our success to the
excellent service through thorough means of col­
lections made through the G-irard Rational Bank of
Philadelphia.
In the summarizing of our past exper­
iences we would be unfaithful were we not to emphat­
ically declare ourselves moat heartily interested in
the selection of Philadelphia as a continuance of our
future banking interests.
Trusting thuc we may have the pleasure of
knowing that Philadelphia has been given favorable
consideration, we are




Yours v e r v t r ul y ,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C A P I T A L .............. i....| 1 4 2 ,9 5 0 .0 0
S U R P L U S ......... .........$ 4 2 5 ,0 0 0 .0 0
UNDIVIDED PROFITS $ 2 4 0 ,0 0 0 0 0

A .J . H A Z E L T IN E , P r e s t .

G .F

>J P. J E F F E R S O N , V i c e P r e s t .

GEC

S W O R TH , C a s h . e r ,
j

AC K S O N , A sst. Ca s h ie r .

C . B. A Y E R S , A s s t . C a s h i e r .

i r . l / f / f / i ’.V , I*A . xi^oMster 2 6 th , 1913.

Hon. Wfcu S . HeAdoot S ecy . o f th e t r e a s u r y ,
I

t

W ashington, B.C .
B ear 3ir;«*
I f a g r e e a b le to th e O rg a n iz a tio n Com m ittee,
i t would fee v e ry g r a t i f y i n g t© us rho-uld you name
P h ila d e lp h ia a s a l o c a t i o n f o r one o f th e F e d e ra l R eserv e
ta n k s a b o u t t o be e s t a b l i s h e d .

As th a le a d in g c i t y o f

our s t a t e , and ta k in g i n t o a c c o u n t i t s p r e s t i g e a s a
Ilia t o r l e a l c i t y im a f i n a n c i a l and g c v e rm e n ta l way, i t
would seam to us t h a t sh o u ld th e G oraaittee d e c id e i n
ac co rd an c e w ith o u r s u g g e s tio n , t h a t i t s a c t i o n would
be v e ry g e n e r a lly en d o rsed i n th e s ta te *
T ery t r u l y yoi
[Form




f> fl

Hon, W. G. McAdoo, S e c f:y of the Treasury,
Washington, D. 0 ,
✓

Dear S i r ;I feel that I am voicing the sentiment of every National
Bank in this section of the country in asking you to
consideration

give favorable

to the selection of the City of Philadelphia for a

Federal Reserve Bank.

It is useless for me to retail the statistics

which commend it, as you are no doubt fully informed as to the finan­
cial position it occupies in the United States, as well as the vast
amount of manufacturing and mercantile interests that are carried on
in that City which makes it eminently entitled to the selection for
that purpose.




Trusting that you will consider it favorably, I am,
Very sincerely yours,

N S W
I

lL r \ 'CL,& I
I

Reproduced from the Unclassified I Declassified Holdings of the National Archives

C A S H tE

PR ES] D E N T.

148
V IC E




A S S T . C A S H IE R .

P R E S ID E N T .

'$200,000.

70000.

Dec. 26 th, 1913.

Hon. Wm. G. Me Ad©@,
Secretary ef the Treasuryr
Wa#hingt®n , D . G .
Dear S i r : -

m

We trust you will be able t© see

yowr way

cla^r to grant Philadelphia a Federal R e s e r v e Bank.
We f e e l

tSur© Ph.x1ade lp^ ii

i h on.w ©f

inost c qti s oi *y ^t xv e

and largest banking c e n t e r s , and should bo granted this.
Trusting you will see your way clear to grant
this request, we beg, t© renuin
Very truly yours,

<f. ^
D i e .3 .P. C.

^

-

Asst. Cashier.

F"-

.
.
1
,
1J
X
J
.
.
Reproduced from the Unclassified / Declassified Holdings of the National Archives

ESTABLISHED 1 9 0 0

(Extmpxtn^

(0hz&ltx GLcmttfcg
CAPITAL $ 2 5 0 . 0 0 0
J. E V E R T O N

R A M S E Y , P R E S ID E N T

W M . H . G I B B O N S , V ICE P R E S ID E N T

W M . P. S H A R P L E S S , T R U S T O F F I C E R
E L B E R T

N. P U S E Y ,




L . K . S T U B B S , VICE P R E S .& T R E A S .
A s s t.T r u s t O ffic e r & A s s t . t r eas.

Witxt (Eke# ter, IjSa.

December 26 , 1915

Hon. William Moidoo,
Secretary of the U*S.Treasury,
Washington, D.C.
Itip dear Sir:We hope you will use your
influence to have Philadelphia designated as
one of the Federal Reserve Cities under the
new Currency Bill.

We believe a consideration

on your part of the financial strength and re­
cord of Philadelphia will convince you of the
propriety of establishing a Reserve Bank there.
Yours very truly,

V

'

Reproduced from the Unclassified / Declassified Holdings of the National Archives

R O B E R T L P Y L E . P r e sid il n t

H E N R Y C O P E . V .P r e s id e n t

*■*

N

>N C . P Y L E , V .P r e s .& Ca s h i e r

2669

Th e N a t i o n a l Ba n k o f W e s t Gr o v e
W e s t Gr o v e ,Pa .
December 26th, 1913 ,

Eon. William (G. Me Adoo,
Secretary of the Treasury,
Washington, D. C.
Tear Sir:
We trust that in the distribution of the Federal
Reserve Banks Philadelphia will be designated as one of the
cities where a Reserve Bank shall be organized.
It is not neccesary for us to enumerate the reasons
why Philadelphia should be designated for you are already fully
acquainted with the conditions. Eastern Penna. New Jersey, and
Delaware are thickly settled with small banks and it would be
a hardship to them to have a Reserve Bank so far away as Hew
York.

Then too the banking resources of Philadelphia are over

one billion dollars which warrants its consideration.




Trusting you will act favorably in thjs matter we are,
Yours very truly,

y

,
- o

/i
/ J
i' v

Tice President.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Hon. Secretary of the Treasury,

.

/

/

Washington. D. C.
Dear Sir*
In vimr of the Enactment of the NeiT Currency Bill
• we would recommend that owing to its Birmgcial strength
Phi la. bo designated one of the F^d^ral Reserve Banks.
w e con*id*f» ^hi la. a logical place for the location of
on"' of the Reginal Banks anl trurst that you will give
this m t t e r y o v r consideration.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

*

7

^

2

$

/J O , 0 0 0 .

/ 700000.
/ / / / / / ^

r

ANDREWH.M c CUNTOCK,

President.
~VicePresident.
GEO.H. FLANAGAN,
Cashier.
ELM ER E. BUCKM AN,
Asst.Cashier.

IRVING a . S TEA R NS,

'e d s ^ A / € ? A / i e , , J r / y .

January 6 th, 1914 *

Secretary of the Treasury,
Washington, D« C.
Dear Sir:¥e "beg to go on record as favoring the establish­
ment of one of the new regional "banks in the city of Philadel­
phia, and our reason for favoring the same is on account of
the close "business relations that exist between our section of
the country and the city of Philadelphia, and we feel that for
"banks particularly in this region the best service would be
given,and hope the Organization Committee may see their way
clear to establish a bank at Philadelphia*




Yours very truly,

Cashier

JBUIJJ...

----

"II 1....... 1

Reproduced from the Unclassified I Declassified Holdings of the National Archives

V
V'

*,

WILKES-BARRE,PA.
W OODW ARD LEAVENWORTH, P r e s id e n t
M . GSAERTN
A E R T NER
ER , Vice

P r ee ss i d e n t .

£

oE
nLL
I , rC a
Asc hu ii er nr
J1. C . B

"X H
^

v

V

v

J t-

^ A -A .

V\/\JU^

AVVvv(^

t)




[AA~

0"W v.

U ^ v ^Q ,

£ l-

tic

|f * v

Reproduced from the Unclassified / Declassified Holdings of the National Archives

CAPITAL $500,000.00

SURPLUS $1,600,000.00

M IN E R S B A N K OF W IL K E S -B A R R E .
ANDREW F. DERR, p r e s i d e n t .
F. M. KIRBY, i s t v i c e p r e s i d e n t .
J. N. CONYNGHAM, 2 n d v i c e p r e s i d e n t .
C. W . LAYCOCK, c a s h i e r .
GUY STURDEVANT, a s s i s t a n t c a s h i e r .
A. N. RIPPARD, t r u s t o f f i c e r .
CARLETON C. JONES, t r u s t o f f i c e r




W

il k e s

-B

a r r e

, P

a

.,

Dec • 24 th, 1913 .

Hon, William McAdoo,
Secretary of the Treasury,
Washington, D. C.
Dear Sir:Kindly permit us to express to you cur
conviction that as Philadelphia is the financial
centre and leading city of the important State
of Pennsylvania, if possible it should be desig­
nated as one of the Federal Reserve Cities.

R

Reproduced from the Unclassified I Declassified Holdings of the National Archives

FRED THEIS,

J O H N T. L E N A H A N .

presi dent

vi ce

W . B. S C H A E F F E R ,

presi dent

treasurer

W YOM ING V A LLEY TR UST COMPANY
D IR E C T O R S

C A P I T A L , S U R P L U S A N D P R O F I T S —O N E M I L L I O N D O L L A R S

FRED THEIS
R. J . F U C K
CYRUS STRAW

O P E N S A T U R D A Y E V E N IN G S

U N IT E D




STATES G O V E R N M E N T

D E P O S IT O R Y

W IL K E S -B A R R E , PA.,

FOR

P O S T A L S A V IN G S

D IR E C T O R S
I. S . L O N G
D. S . WILLIAMS
J O H N T. L E N A H A N
B. R. J O N E S
J, N. TH O M PSO N

Dec. £ 6 , 1913 .

Hon, W. G. Me Ad oo,
Secretary of the Treasury,
Washington, D. C.
Dear Sir:
Recognizing the advantages secured
through the new Currency Bill for the business
interests of the Country primarily, and incidently
to the Banking interests in so far as it makes the
banks obligations to their depositors more depend­
able, it follows that the Feoeral Reserve Cities
provided for in this measure should be located in
the hub of our manufacturing and merchandising
centers.
W© take it that the City of Philadelphia,
Pennsylvania, is a natural center of a large arie of
a compact and intensely active business community.
The financial strength already commanded by Philadel­
phia and its adjacent territory would in our opinion,
make it the natural hub for concentrating, so as to
best perform the functions of a Federal Reserve
Institution.
By business allignments and association of
long standing, we in the Wyoming Valley are all Phila­
delphians, and we therefore ask that you give careful
consideration to Philadelphia’s claim.
Yours very truly,
SYOMINS

Ls"

vaiiey

TRUST C O .

F 1" * " ----------------------------------— -------------------------------------------------------- .1—j-jj. i .-i
Reproduced from the Unclassified I Declassified Holdings of the National Archives

ALLEN

P. P E R L E Y , P r e s i d e n t

W .H.PAINTER,Cashier

\\

CAPITAL
$ 4 0 0,0 O 0.0 O

SURPLUS
^1,375,000.00

Williamsport» P a * f Jan* 14th, 1914
Hon. Secretary o* the Treasury#
W ashington, D. C.
Sir s

X ''
:f
x
r
Group 4, oj^th# Pennsylvania Bankers1 Association, of

which I hai^ tha wfoVi^r of being^ecretary# have forwarded
a ciroultfr l e i t e r p a %aoh of the b^nka composing the Oroup
of whiop I enelpfe^ copy
Theie

banka in this Group and I have

receivedVepile® from sixy nine^^*l3~favori
p h ij^ th

M i^ n e

e x c e p tio n

ER ED l

t n J'AN 191914




■> Phi l a d a l - ^

P 1-1"”1' 1

1

,l -1-1,11

-

Reproduced from the Unclassified I Declassified Holdings of the National Archives

ALLEN

P. P E R L E Y ,

P resident

W . H . P A I N T E R , Ca s

h ie

r

Km. A. McAdoo,
Secretary of the Treasury,
Washington, D. C .

^

Dear 3i r :
This Bank in connection with other banks in this City
have been much interested in the matter of the placing of the
Regional Banks and it is the sentiment in our section that
Philadelphia should be designated as one of the cities in which
a Regional Zone Bank should be situated.
While it may be somewhat premature, may I suggest that
all member banks fcnder the new law be required to stamp or print
the word "Regional", with the number of the Regional Zone attach­
ed on all drafts and checks.




This would facilitate the collection

Reproduced from the Unclassified / Declassified Holdings of the National Archives

ALLEN

P. P E R L E Y , P r e s i d e n t

Z/^{&,

CAPITAL
$ 400,000.00

W. H . P A I N T E R, C a s h i e r

w?

I

Williamsport, P a , , Dec. 26 t h f 1913 .
Wm. A. McAdoo,
Secretary of the Tras u r y ,
Washington, D. G.
Dear Sir:
I as deeply interested in the matter of the Regional
Zone Banks and trust that you will not loave the State of Penna.,
unrepresented.
Our affiliations are more directly connected with Phila­
delphia than any other point within a radius of 500 miles, and
X w ill ask your kind assistance towards making it one of the
points where a Regional Bank is to be established.




--------------------------------------------------------------------------------------------------------

™ - u jp " ...

.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

O bjs r

JCrcasucjj gcpartmetxt

.u . * X
; t>'J

T E L E G R A M

10P0

A

J tf*

40

* •....
«*•*«

WILLIAMSPORT PEOTA

*1—

t*

December 27 1913
“: 1

Hon Wm Gr MoAdoo,

~^

/>
Secretary of the Treasury *
Washington, 13.0.

> .j.

^~P s

C7~ ^

We respectfully request that Philadelphia, one of the three largest
cities in the United States, be made a Federal Reserve Center. We
believe that a Federal Reserve Bank in Philadelphia would greatly
benefit not only Philadelphia but this entire territory.




Williamsport National Bank.
1231p

Reproduced from the Unclassified I Declassified Holdings of the National Archives

0%

December 27th, 1913 .

Secretary of the Treasury,
Washington, D* C.
Dear Sir:We beg to go on record as favoring
the establishment of one of the new regional reserve
banks in the city of Philadelphia , and our reason
for favoring the same is on account of the close
business relations that exist between our section of
the country and the city of Philadelphia, and we feel
that for banks particularly in this region the best
service would be given if the Organization Committee
should see fit to establish a bank at Philadelphia.
/




/

/

-^'7 )

Ypu.rfjl v e r y )%
rpJtj /

......... -

.

President
First National Bank

PWWI-

WI1I.L-. ...
Reproduced from the Unclassified / Declassified Holdings of the National Archives

J A M E S B .G R AH A M , P r e s i d e n t .

C H A R L E S COCHRAN, V ic e P r e s i d e n t .

CAPITAL $500,000.00

JAMES B GRAHAM,

EDWARD L.T A Y L O R , S e c r e t a r y & T r e a s u r e r .

C H A R LE S E. KRAPE, A s s i s t a n t T r e a s u r e r .

S U R P L U S $90,000,00

1 2 / 26/ 1 3 .

P R E S ID E N T

Hon. William G. McAdoo,
Secretary of the Treasury
Washington, D. C.
Dear Sir:The northern Central Trust Company is
interested in seeing Philadelphia made one of the Federal
Reserve cities, because of the large amount of banking
capitaj. invested there,and because of its importance as
the largest city of our State and the close relatione of
the banks of that City with the country banks, we believe
that it would be greatly to the advantage of the entire
State*

X would like to ask your very best consideration

and trust you may see your way clear to answer favorably.




i xcHiuuuuici irom tne Unclassified / Declassified Holdings of the National Archives

MOS

LEBO

P R E S ID E N T .

J.J.CLARKSON
C A S H IE R .

CAPITAL

$ 5 0 .0 0 0

19L I

Wi Ilimns Iown. Pit.,

'f l L , ^

d

y {y & T s




£ts2~

—

f:
I*

/
s

P '» "

■

_

...........11

1

1

Reproduced from the Unclassified I Declassified Holdings of the National Archives

C A P I T A L . $ 1 5 0 ,0 0 0 .
S U R P L U S # 1 0 0 .0 0 0 .

D . S C O O K , PREST.
W .H .K E R R .V ice-P fest.
W. E . W E L L E R , CASHIER

N O .2 4 -6 .

Honorable William G.McAdoo,
Secretary of the Treasury
of the United States,
Washington,D.C.
/
Dear Sir:-

I desire to call your eafrnest attention to the

fact that I "believe Philadelphians entitled to,and should
be selected as a place for a Regional Reserve Bank,
The importance of Philadelphia as to financial
strength,hank clearings ,and the Community which *ill be best
served by the selection of that City,is to wy mind,second
tbo none in the United fixates.
The Banks of Philadelphia are the best in thr* Count­
ry for looking out for their customers ,accommodations ,etc. ,
and I believe if the regional Reserve Bank is established
there,all the energies of th&t financial camimity will be
utilized to make the Regional Bank a splendid success.
The various irf^erests of Pennsylvania and adjoining
states can be more successfully

sustained and increased

by placing a Regional Reserve Bank in Philadelphia.
I also feel that the banks vshich do ,and w i l l ,cl ear
their business thru Philadelphia are most representative
of the important industries ,manufacturing and otherwise,of
this section of the Country.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

D . S COOK, Prest.
W. H.KERR.Vice-Prest.
W. e . w e l l e r , cashier

#2.

Con'td.

C A P I T A L $ 1 50,0 00.
S U R P L U S $ 1 0 0 ,0 0 0 .

N o .24-6.

January 15 th 1914 .

I ir.ost strenuously object to New Y o r k ’
s receiving
the l i o n !s share in determining the various boundaries.
Urging vou to select Philadelphia as b h 6 of the
best places firr pl«icimg a Regional "Reserve "Rank, I am,




very t ruly yours ,

Reproduced from the Unclassified /Declassified Holdings of the National Archives

Cashier.

Vicel¥eside?it.

/^ re s id e n ts .

Japitai $100,000.

January 8 ,1914 .

Ho* . V/.G .Mo Ad o o ,Chairman,•
Reserve Bank Organization Committee,
W* shingt o n , D.C,
Des.r Sir:- Enclosed Fiv$ Resolution of Acceptance passed by
our Board on jsnuaryjffch, at their regular meeting.
In c o m n e c t i o n ^ i t h the enclosed resolution re would
r e s p e c tfu lly
a t

u rg y

the necessit3r of a Regional Reserve lank

Fhiladelphiafduring our 24 years of hanking we have

had

no other Reserve Agent,except our Philadelphia correspondsnt

\

and tfcey have always provided for all of our needs .especially
i

d u r in g

the

p a n ic

of 1907 you

Y fill

remember that Philadelphia

took better car® of their customers than He?; York was able to cb
Trusting that you will give our request due consideration,




Reproduced from the Unclassified-/ Declassified Holdings of the National Archives

Th e § e c ]u ritv ;T iiie JfeTraTsr fk m m sw
Transacts a general banking business,Interestpaid on time deposits.
Acts as Guardian,Executor,Trustee and Administrator'Titles Insured.
’
___ :____________

•__________________________________ __________________

^

B A Y S t e w a r t , p r e s id e n t .
D .F .L A F E A N ,V IC E PRESIDENT.
R .S .C a n n o n , s E d r .a t r e a s .
W. C. S U D I C K , AS ^T. TREASURER.
J a m e s J . G e r r y , r e a l e sta te o f f ic e r .
F r e d e r i c k B . G e r b e r , t r u s t o f f ic e r .

December 2£, 1913 *
To

The Treasurer of The United States,
Washington, D. C*

Dear Sit:
We urgently request that one of the Federal Reserve
Banks shall be located in the City of Philadelphia.
seem like a serious Joke not to do this.

It would

To attach Philadel­

phia to Hew York or any other point and not make it a Reserve
City would amaze the bankers and business people of that City.
Besides it ?/ould destroy the banking connections of all the
banks of this City.

Every* bank and Trust Company in this

city keeps a reserve account with the City of Philadelphia.
Of course, most of them keep reserve accounts in liew York
also, but on account of collections it is very convenient
to be able to keep our reserves in Philadelphia.




Yours truly,
?HE SECURITY, jDITLE

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Washington, D. C.

Gentlemen:
Kindly permit us to call your attention to the importance of
locating one of the Regional Reserve Banks in Philadelphia.

Philadel­

phia ranks third in the volume of total banking resources and in volume
of deposits of National Banks.

The writer has been engaged in the banking

business for over twenty-eight years, during all of which time he has realized
the importance of Pennsylvania having Philadelphia as its banking center.
A very large percentage of the so-called country bank checks are cleared
through the Philadelphia banks.

We feel that should your Committee overlook

the importance of Philadelphia as a plaoe for the locating of one of the
Regional Reserve Banks, that Pennsylvania will not be receiving the facili­
ties to which it is entitled.

Our Company could not transact its business

with the same satisfaction with Baltimore or New York with which it does
business with its Philadelphia correspondents.
We trust that the rumors in the newspapers, to the effect that
Philadelphia will not be selected by your Committee, are not warranted,
and that your decision will be in favor of Philadelphia as one of the
Reserve Bank centers.
Trusting we have not transgressed too much on your time, and
with our best wishes for the success of the new Currency System, we are,




Very truly yours,
Y0RK T R U ^ ) ! .I P A N Y , ^

Vice~PresideritS5c Treasurer.

/

Reproduced from the Unclassified / Declassified Holdings of the National Archives

H O RA C E KEESEY, P r e s id e n t .
K. K E E S E Y . V i c e P r e s i d e n t .

2228

CAPITAL, $ 2 0 0 , 0 0 0
S U R P L U S . $150,000

V

THE F A I l l I f NATIONAL BAN

YO R K , p e n n a . ,

December 29 ,

1913

Hon* William G. McAdoo
Secretary of Treasury,
Washington, D.C
Dear Sir:The Banks in this section of the State have in the
past transacted most of their business requiring a reserve depository,
correspondent, and in a number of instances, financial assistance, with
Philadelphia Banks,
The City of Philadelphia with its varied manufacturies, rich and fertile adjoining farm lands, and large and conserva­
tive moneyed interests has always been one of the financial strongholds
of the country.

We feel that for the benefit of the people in one of

the most thickly populated business sections of the United States, Phila­
delphia should have a Federal Reserve Bank, and trust you will use your
influence in having one located there.




Very truly yours,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Form 168

UNID.V "
AM

TEL

I

THEO. N. VAIL, PRESIDENT

I'XT" __----

IVED a t

Wyatt Building, Cor. 14thand FSts., Washington, O.C. ALWAYS
OPEN
O
J

J

*426 U Y J 2 :

i 1

:

V®

YORK PA 30 !
HOK SECRETARY OF THE TREASURY:

J'

WASHINGTON DC
TE SHOULD :GREATLY APPRECIATE TflG S E I ^ I 0tt O F^8IM 5B LPH IA ■
AS A
RESERVE :CITY :
TESTER! HATIQHAL BAKK.



. . ~

141a

j

Reproduced from the Unclassified / Declassified Holdings of the National Archives

8938

E

IIS T R IA

JL

\

A T IO IM A L

A N K

CAPITAL ^50,000-00
A L D tN G ER , P
Z ACH. LAU E R , V i c e
MARRY C .S T IT T , C
S .S .

Yo r k , Penna.

r f s i o e n t
P r e s i d e n t
a s h i e r

January 6 , 1914 *

f,
Secretary of the Treasury,
Washington, D. C.
Pear Sir:We beg to go on record as favoring the establish­
ment of one of the new regional reserve banks in the city of
Philadelphia, and our reason for favoring the same is on
account of the close business relations that exist between
our section of the country and the city of Philadelphia, and
we feel that for banks particularly in this region the best
service would be given, and hope the Organization Committee
may see their way clear to establish a bank at Philadelphia,




Yours very truly,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

F R A N K L. D E R S H E M ,
17t h D is t . P e n n a .

%amt o f UejtrmntatttiPB
M a js ljm g tn tt, H

1.

(L

Daeamber 26, 1913

Hon* William

StcnUry if t)ia ?r*aaury,
Waahingtaa#

D.

0*

C#ar S ir :
Many of my conatituanta ara rary mueh iuteraitad in
hariag a federal raaarve bank aatabXiahad in PhiladaXphia,
and I «incarely truai that you may

aaa your way elaar 4a

aaaply with tha request# and argent aatda i f ike goad people
in eaatera Pennsylvania that thia bank ba daaignatad for tha
principaX city of our state •




Vary irttXy yours,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

W I L L IA M H U G H E S * N . J . , C H A IR M A N .
T H O M A S S. M A R T I N . V A .
B E N J A M I N R . T I L L M A N , S. CASLE J. QRO NNA, N. DAK.
W I L L IA M P. D I L L I N G H A M , V T .
J A M E S J. O’ O Y R N E , C L E R K .




CO MM IT TE E O N

13y dear Mr . 1McAdoo:

I beg to enclose lierewith two commmi cat ions
urging the selection of the City of Hiila&elphia for
the location of a regional reserve "bank.
Very respectfully,

To the Honorable,
Hie Secretary of the Treasury,
Washington, B. C.
(2 enclosures)

Reproduced from the Unclassified / Declassified Holdings of the National Archives




muiiii

Reproduced from the Unclassified I Declassified Holdings of the National Archives

The First National Bank of Fernandina
Fred W.Hoyt, IV^dent
%\
Everett M izell, 3?cl Resident \
Ralph. W. Hoyfi CaJker
*

j*
/

C a p ita l $ 1 0 0 , 0 0 0 . 0 0
Cable A d d re s s : N a tl) u iik

nited States Depositary
F o u n d e d 1887

Fernandina,Fla.,

December 27, 1915.

i£.
'A v

Honorable Secretary of tlie Treasury,
Washington, D. 0.
Sir:
With respect to the selection of
Federal Reserve cities under the recently
enacted Currency law, we would respectfully
request that Philadelphia be named as one,
in view of its large banking resources,
its immense population and its commercial
and manufacturing interests.




President.

dec

n

4 \
W)

’

'.c>
is /

Reproduced from the Unclassified I Declassified Holdings of the National Archives

8321

UNITED STATES D E P O S I T O R Y

C.E. GARNER,
Chairman ofthe B oar d.

ARTHUR F PERRY, P r e s i d e n t .
J.R .P A R R O TT, V i c e - P r e s i d e n t .
G IL E S L .W IL S O N , V i c e - P r e s i d e n
W. A . R E D D I N G , C a s h i e r .
G. J . A V E N T ,

A s s i s t a n t

$ 5 0 0 ,0 0 0 .0 0

CABLE ADDRESS
“ FLA N B ”

t .
---------

C a s h i e r . , ^ .

C . B. C A M PB ELL , A s s i s t a n t

JO H N

CAPITAL

Cas£-m e r . '

A . N EW SO M , A s s i s t a n t

*

c I a s h i e r .

VjAcksoxvii.lk,FLA.,

Dec, 27 th 1913

S J

Honorable William G. McAdoo,
Secretary of the Treasury,
Washington, D. C,
Sir:-—
The national Banks of Philadelphia have for a num­
ber of years been large exchange gatherers, and have offered
Extensive facilities to the banks of this territory, which
has resulted in estaTSLishing relations between the Philadel­
phia banks and a great many country banks.
We would be gilad to see Philadelphia designated
as one of the locations for a federal Reserve Bank and we
would respectfully urge that you give that locality care­
ful consideration in your designation of Federal Reserve Banks,




m

------------ :— :— 1— ^ — ------------------------------------------------- .
Reproduced from the Unclassified I Declassified Holdings of the National Archives

i t E » » M 4 R C m 3?? 1886.
J no.T.
G. B. Lama

Reginald White,Assl Cashier.
G eo. L.E s t e s , Assf Cashier.

#130.
ft

/ v V r—

fir s t

Na tio n a l Ba n k

O F ST. A U G U S T I N E

/

'

I uj
\?i\

l 9 '3

Deo, 26,

The Honorable,
The S e c re ta ry o f the T reasury,
Washington, D. C,
S ir :As the Currency B i l l has passed, and r e a l i z ­
ing the importance o f the C ity o f P h ila d e lp h ia to
th is se c tio n ,

I take g re a t p le a su re in advocating

P h ila d e lp h ia as one o f the F ed eral Keserve c i t i e s ,
f e e lin g sure that the in t e r e s t s o f the g re a t South*
and here in S t, A ugustin e, where we a re in c lo se
touch w ith P h ila d e lp h ia , w i l l be b e n e fite d th ereby,




n

\^\
°&c
\! c r i1
. 19

• *7 . \

S T .A U G U S T 1 N E ,F L A .,

/* ">

With b e st w ishes,
R e s p e c tfu lly yours,

P re s id e n t,

j £ f

/

v;

Reproduced from the Unclassified I Declassified Holdings of the National Archives

2338

Dec. 27/13

Washington, D. C.
Sir:We have been requested to recommend Philadel­
phia as one of the cities in which to establish a Federal
Reserve Bazik.
Our relations with certain banks in that city
have been extremely close and it affords us pleasure to
say we should be glad to see that city become one of the
3?e$9ral Reserve Bank Cities.




Very respectfully,

s~ 2 3

(A N S W E R E D !

Reproduced from the Unclassified I Declassified Holdings of the National Archives

Z. T. C A S TL E fJE fiR Y , Presi

No. 3 9 8 3 .

H . H . D E A N , V ice-p resident and A ttorney.

Capital, $ 1 0 0 , 0 0 0 .

Surplus, $ 5 0 , 0 0 0 .

J. W
IT H , C ashier.
J. T. 11 .L F O R D , Assistant Cashier.
J. IV. M E R R IT T , A ssistant C ashier.

Undivided Profits, $ 5 0 , 0 0 0 .

ST NATIONAL BANK
OF GAINESVILLE, GEORGIA
Gainesville, Ga

Dec •

» 19 1 3 •

Hon. Secretary of tlie Treasury,
Washington, D. G.
Dear Sir:
We desire to submit our recommendation that
Philadelphia be designated as a Federal Heserve City
under the operation of the recently enacted currency
hill.




Tours very truly,

jgj

Reproduced from the Unclassified / Declassified Holdings of the National Archives

C H A S i

P.

F U L T O N ,

P R E S ID E D




D A V ID W . A N D R E W S . SECRETARY.

H U G O

I.

F R A N K .

Jan. 2, 1914

Committee, for Organization Regional Bahk§,
Washington, D. C.
Gentlemen:
In locating the Federal Reserve
Banks please permit us to say a good word
for Philadelphia.
For some time we have had a con­
nection with the Corn Exchange National
Bank of Philadelphia, and the account has
•been eminently satisfactory*

They seem

to be very liberal in handling all business
entrusted to them, and their central loca­
tion ensures prompt returns to us.
Yours very truly

Secretary

V IC E -P R E S ID E N T .

P S P

1 1

...................L J ......I1. " - II1JI- » IU...................-

■
■

- ................

Reproduced from the Unclassified / Declassified Holdings of the National Archives

B. N. D U K E , P r e s i d e n t

T. B. F U L L E R , V i c e - P r e s i d e n t

J. B. M A S O N . C a s h i e r

£ C itiz e n s U s tliu tm l IBsm h
OF DURHAM, N. C.
ITAL $100,000

D

u r h a m

SURPLUS

$ 9 0 ,0 0 0

, N. C.

December 29» -19.13 •
Secretary of the Treasury,
Washington, D. C.
S ir: -

This Bank having several Philadelphia accounts
through which we do a large part of cur banking business,
respectfully ask that there be located in Philadelphia one
of the Regional Reserve Banks, Such an appointment would
be to our mutual advantage, and we hope you will give it your
active support, standing as it does third in amount of deposits
with the largest cities.




Reproduced from the Unclassified / Declassified Holdings of the National Archives

B. N . D U K E , pRESipeNT

T. B. F U L L E R , VicE*PRestoENT

J. B. M A S O N . C a s h i e r

Uatitmal H a w k
OF DURHAM, N.C.
U 9100,000

D u rh a m ,

SURPLUS

$9 0 ,00 0

«

'^

N. C.
December 29 , 19$

Secretary of Agriculture,
Washington, D. C
Sir:This Bank having several Philadelphia accounts through which we do a large part of our banking business,
respectfully ask that there be located in Philadelphia one
of the Regional Reserve Banks«
Such an appointment would
be to our mutual advantage, and we hope you will give it your
active support, standing as it does third in amount of deposits
with the largest cities.




pp. --- ;— --- ""

1

p— — «

Reproduced from the Unclassified I Declassified Holdings of the National Archives

B. N.

DUKE,

P resident

T. B. F U L L E R , V i c e - P r e s i d e n t

J.

B. M A S O N . C a s h i e r

C itiz e n s :
OF DURHAM, N. C.
CAPITAL. $100,000

SURPLUS

D u rh a m , N.

© 90,000

C.
December 29 , 1912 j F o

Comptroller of the Currency,
Washington, D. C.
Sir:This Bank haring several Philadelphia accounts
through which we do a large part of our banking business,
respectfully ask jshat there be located in Philadelphia one
of the Regional Reserve Banks *
Such an appointment would
be to our mutual advantage, and we hope you will give it your
active support, standing as it does third in amount of deposits
with the largest cities.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

N? 9124
P ftS ID E N T

W. B .C 'o O P E R
V I C E P R E S ID E N T S

T h o s .E . C o o p e r
G e o .O .G a y l o r d

C

h a s

E.Be

The A

m er ic a n

Na

(Organized
t h e a

tio n a l

Ba n

k

1908.)

A S S IS T A N T C A S H IE R S

W.C.DE N N Y
E .Fr e d Ba n c

W i l m i n g t o n ,N.C.

k




December 30 th -1913
Organization Committee,
Regional Ba:
Washingt
Gentlemen •We take pleasure i W b a t i n g that we feel
that it would be to the advantage of this section
to 'have one of the Regional banks located in the
City pf Philadelphia.
We are especially anxious to see one of
the Regional banks located in Philadelphia as the
business that our institution has long conducted
through that City has been highly satisfactory and
we believe that the entire south would be glad to
see one of the Regional banks located in Philadelphia.
Thanking you in advance for your
consideration, we are,

Reproduced from the Unclassified / Declassified Holdings of the National Archives

4691

T H E HAYDEN-CLINTON NATIONAL BANK
C O L U M B U S , OHIO
W .C / W IL L A R D ,P res Tt .

C. H. H A Y D E N , V ic e P r e s ’t .

W. P. LITTLE,CASHIER.

S . S . P R E N T IS S , Vi CE P r e s ’t .

T. H .D IC K S O N .A ss Tt . CASHiER

December 30 th, 1913
To the
Honerable Federal Reserve Committee
For the Location of Regional Reserve Banks,
Washington, D.C.
Sire:
W e desire to call to your attention the many advantages possessed
by the City of Philadelphia as a location for a Regional Reserve Bank, both
in the amount of business transacted by the banks of that City for other
banks located in various parts of the country and the volume of items which
are now passing through those banks for collection.

Under present arrange

ments Philadelphia is in a measure a Clearing House for many of the country
banks and extends many facilities that cannot be obtained to the same advan­
tage through any other source, which we think is a matter for consideration
in the close relationship which might be established with a Regional Bank.
We have been transacting business for a number of years with Philadelphia
banks and have received most satisfactory and prompt attention on all
matters forwarded through that point.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

N? 707

'/so /: >/ c / lx t/f/ ; r u c

JJ/

^///y?/'lSJ/,U /// f/yfy.
E D W IN

D A V E N P O R T ,P > R E S T .
A .K .D E

H E N R Y

L E E S ,V IC E

y ty m /p ^ iM ,

PREST.

l/,c c .

W IT T , C A S H I E R .

Hon. Secretary of tlie Tresury, '
Washington, D. c.
Dear Sir:
Allow us to recommend to your consideration
the designation of Philadelphia as one of the proposed
Federal Reserve Cities under tlie new currency bill.
We believe Philadelphia is entitled to be designated
a Reserve city as it is one of the great business centers
of the East and because of its financial strength and
record.




* A ,