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Reproduced from the Unclassified / Declassified Holdings of the National Archives Reproduced from the Unclassified / Declassified Holdings of the National Archives TREASURY DEPARTMENT TELEGRAM WHERE WRITTEN: Washington eserve Bank Organisation Committee* January 13. 1914* TO H* H* Victor, Secretary, Charlotte Clearing House Aseoci at ion, Charlotte, N* C. Committee will be glad to have your representatives appear at hearing in Washington on Thursday, January fifteenth* Secretary pro tern Reserve Bank Organization Committee* 2—6827 The appropriation from which payable must be stated on above line. DEPARTMENTAL STOGSK FORM 2 I 2$. Reproduced from the Unclassified I Declassified Holdings of the National Archives NIQHT LETTER PS, oM mB TH E WESTERN UNION TELEGRAPH COMPANY INCORPORATED 25,000 OFFICES IN AMERICA CABLE SERVICE TO ALL TH E WORLD This Company TRANSMITS and DELIVERS messages only on conditions limiting: its liability, which have been assented to by the sender of the following Night Letter. Errors can be guarded against only by repeating: a message back to the sencing station for comparison, and the Company will not hold itself liable for errors or delays In transmission or delivery of Unrepeated Night Letters, sent at reduced rates,beyond a sum equal to the amount paid for transmission; nothin any case beyond the sum of F ifty Dollars, at which, unless otherwise stated below, this message has been valued by the sender thereof, nor in any case where the claim is H°t presented in writing within sixty days after the message is filed with the Company for transmission. This is an U N R EPEATED NIGH T LETTER , and is delivered by request of the sender, under the conditions named above. T H E O . N . V A IL , PRESIDENT R e c e iv e d 3000 OX 6 7 1 6 0 2 a t N L 5 ... ~ , ... o / (3 kt Ai EXTRA ’ ' CH ARLO TTE NC J A N Y 12 W A S H IN G T O N ' . „■ I tL ' ' ' 1S14 DC HO;-.' E Y V /E B B HOUSE A :! E V E R Y MUCH B A N K V . 'I L L S E N D S2CUR E AN IN E A R N E S T A B O U T S E C U R IN G A R E P R E S E N T A T IV E A P P O IN T M E N T T H E Y A R E C O M IN G „ - iiT OF REPS T H E M ” .€ A T W A S H IN G T O N OR S O U T H W IR E W IL L H A V E C O M M IT T E E IN R E G IO N A L R E S E R V E A N D W IS H T H IS YOU W 0U L0 T E R R IT O R Y IF V /H E N A N D W H E R E VJE C A N IN T E R E S T IN G DATA A .\’0 GOOD R E A S O N S OUR E X P E N S E G E T T H E B E A R IN G > FO R IF L O C A T IN G H E R E W IR E HERE P O S S IB L E H M V IC T O R SECR ETARY CH ARLO TTE C L E A R IN G HOUSE 1221AM ASSN 13 Reproduced from the Unclassified / Declassified Holdings of the National Archives TREASURY DEPARTMENT TELEGRAM. WHERE WRITTEN: Washington, RESERVE BANK ORGANISATION COMMITTED. January 29g 1914* Chairman, Chamber Commerce, &alv08toaf 9sxa*« Hoaring of Committee will be hold federal Court Room, Austin, Ifonday, February ninths nine A.i*. fill be glad if you will wire ms list those desiring to appear, mailing duplicate to Bank Examiner J. L* Penix, four hundred eight last W«ath .rford St., Fort Worth* Secretary Reserve Bank Organisation Committee* O F F IC IA L B U S IN E S S . G O VER NM ENT R A TES . C harge T reasury D ep a r tm en t, 2— 6827 0FFXCIAL. A p p r o p r ia t io n for ______________________ ___________ _____________________________________ _________________________ • _________________________ _ The appropriation from w hich payable must be stated on above line. D EPARTM ENTAL STO CK FORM 2 12 8 . Reproduced from the Unclassified / Declassified Holdings of the National Archives TREASURY DEPARTMENT TELEGRAM. WHERE WRITTEN: Washington, RES KSTB b a n k o r g a n i z a t i o n c o m m i t t e e . January 3t, 1914* TO Chairman, Clearing Hones Association, Galvoeton, Texas* Hearing of Committee will he heId Federal Court Room* Austin, Monday,* February ninth, nine A*M* Will be glad If you Trill wire me list those desiring to be heard, mailing duplicate to Bank Examiner J.L.Penix, four hundred eight East Weatherford Street, Fort Worth. Secretary Reserve Bank Organisation Committee* O F F IC IA L B U S IN E S S . GO VER NM ENT R A TES . C harge T reasury D ep a r tm en t, 2— 6827 OFFICIAL, A p p r o p r ia t io n for ________________________________________________________________ The appropriation from w hich payable must be stated on above line. D EPARTM ENTAL STOCK FORM 2 I 2 8 . Reproduced from the Unclassified I Declassified Holdings of the National Archives □ STA L TELEG RA P H - C O M M ER C IA L C A B L E S CLAREN CE REGCU.xt AT 'OSTAL TELEOP4PH BUHJQ1NG *34S PENNSVfeV^CflA AVB1MUE H. M ACKAY, P re s id e n t. TELEGRAM * W ASH ING TO N, D. C. TELEPHONES MAIN 0 6 0 0 -6 6 0 1 DELIVERY No. ThePc?sta! Telegraph-Cable Company (Incorporated)transirits and rbeiiv^r.'.-this message subject to the terms and conditions printed on the back of this blank 1BW—S69 DESIGN PATENT No. 40529 1 2 7 n y J -tt.'3 * -M -« m Oalres'ton,Taxas Jan. 29-14 M.C.Hlliott, Seoy Rpsr^re Bank Organization Committee, Waahn.BC> ^ replying to your todays telegram, Mr.I.H.Kenpper and Mr.J/Mooyeg of Oalmston will ayyaar before reaerre organization oonmlttee at Aaatln February ninth to urge tha location of a regional bank In Texas and to present tha elalns * f ffrlTBI*"" In that connection. * OalYecton Clearing House Assn. 1LWaT«rley Smith^rtst Reproduced from the Unclassified I Declassified Holdings of the National Archives G E O .S E A L Y , E . R . C H E E8B O R O U G H , M O RR IS S T E R N , 1 ST VICE P R E SID E N T PRE3ID> 2 n d VICE PR E SID E N T F. W . C A T T E R A L L , M E IG S O. FF H. H . H A IN E S, T R E A SU R E R T R A F F IC M ANAGER G a l v e s t o n C o m m e r c ia l A s s o c ia t io n d ir e c t o r s 4 .0 U I S A . A D O U E B LA C K t . .J . BOCK FR E D W . C A T T E R A L L E . R . C H E E SB O R O U G H W A T E R S S . D A V IS . J r . FRED H AR T EL R . LE E K E M PN E R F R E D M . LE G E , J r . JN O . F . LUBBEN C . H . M CM A STE R E D . S A L ZM A N G E O R G E SE A LY 8 T E V E SG IT CO VIC H J O S E P H G . SM ITH G a lv e s to n , M O R RIS ST E R N M ACO S T E W A R T ALVIN T . LANGE A . H . W ARREN E D LASKER S A M . J . W ILL IA M S January 31st*14* A D V ISO RY BOARD FR A N K A . ALLEN W . T . A R M ST R O N G JU L E S B LO C K H . A . B OR N E FE LD G E O . W A V E R LE Y B RIGG S G E O . S . C O H EN ) Tex a s. P . B . ERHARD W . A . JO H N SO N J . A . LEVINE H . H . LEVY O T T O LE T Z E R tC H H . B . M EYER BEN D O L S O N , JR. A . W . PU RO Y H . A . EIBAND G . H. SAPPER IN YO U R R E P L Y P L E A S E R E F E R TO OUR FILE No. 2,449 Mr. M. 2. Elliott, Sec. Reserve Bank Organization Committee, Washington, B.C. Dear Sir: Your telegram of January 29th. The delegates from this oitg__lo the Austin hearing J. W. Houses of the City National Bank. ... Yours truly, GALVESTON COMMERCIAL ASSOCIATIOff, HHHP Traffic Manager. SIXTH A N N U A L C O T T O N C A R N IV A L JU LY 3 0 TO A U G U S T 9, 1914 Reproduced from the Unclassified / Declassified Holdings of the National Archives Reproduced from the Unclassified / Declassified Holdings of the National Archives Reproduced from the Unclassified I Declassified Holdings of the National Archives E s ta b lis h e d In c o rp o ra te d S a m 't, J ). G i ^e a t h a m . P r e s . W . E A tD E R M ilv , S e c . a n d T r e a s . 19 0 0 1 9 04 (uslorn Tailors rd a sh e rs 437-9 W est Ba y S t r e e t tJ / iC J K S O J V V T L L E , Hon . \ . F o b ^ r r 1914 Q . I£cAdoo, Sec. of the Treasa Washington, D. C Bear Sir:In the matter of selecting a location for Federal Rese^vo Bank to serve this district, our fii^st choice is J.ack.sonvi 1le\sF 1a cur second choice is Richmond, Va. . ^ gubmitted^ Cheatham Alderrnaja Co* i— — i —w — p — ^ — w m m m m -h w w w w w -. ■ ^ ■ ^ ^ - ■ . . . ^ ■ - . ^ y ^ i ^ ^ ^ m m i .# —num Reproduced from the Unclassified I Declassified Holdings of the National Archives : Blue 57WU R Q vm B U vyi Q cp u x X m m t 38paid. telegram Jacksonville Flo Deo 29 1913 r\ I \ .* \ \ rv t Hon W G MoAdoo V-V * ?s Chairman of the Regional Reaerve jank organization Comittee W a s h n DC The oity of Jacksonville wishes to be designated as a federal reserve city and asks to be allowed to present her claims to such recognition at a suitable time and place provided you consider us elligible* J J Heard Chairman committee 333pm Reproduced from the Unclassified / Declassified Holdings of the National Archives H.R. FINN P R O P R IE T O R ----- ^ ----ADAMS AND TELEPHONE POPULAR DAVIS PRICE RESTAURANT. NO. 3 0 3 7 i \ 1 1 ■ --------- --- • . k J A C K S O N V I L L E ,Fla. o\ N^ .. x . A I V ,<** J a n uary 3 1 ,1 9 J 4 . L • 'V #; Eoh^wn* O . Me Ado o, r | / Secretary of the T easur$k Washington, D.C. ■JO**** Pear Sir: In the matter of selectingjpa location for Federal Reserve Bank to serve /his district, our first choice is Jacksonville/ Fla., and our second choice is Richmond, Va. Respectfully submi tted HOTEL FLAGLER Manager. Reproduced from the Unclassified I Declassified Holdings of the National Archives l L JoedU jW S n.Ak K, Reproduced from the Unclassified I Declassified Holdings of the National Archives S ta te N a t i o n a l Ba n k Lit t l e R o R. D. D u n c a n , V ic e - P r e s t. a ck ,A r k . C A P IT A L STO C K £ s C a sh i January 6 , 1914. STATE BANK BUILDING Hon. W* 8 * McAdoo, Secretary of the freasury, Washington, D* 0 . Boar Sir:Oar understanding is that under the Federal Beserve Act, reserve city banks will only be required to keep 1S% reserve* It occurs to me that i t would be of advan tage to us to have Little Rock named as a reserve city* I write* therefore, Z6 Inquire "If an application signed by the four National Baziks here, asking that Little Bock be named as such would have consideration* Z believe that the National Banks in the State of Arkansas would be very glad to center more of their deposits here if sams could be counted as reserve for them* Any information* suggestions, or instructions that you can give in regard to this matter will be appreelated by Tours very truly, HDD-TER* VICE HBE3T & CA3HIEH* 0 0 ,0 0 0 ®_? Reproduced from the Unclassified I Declassified Holdings of the National Archives Reproduced from the Unclassified I Declassified Holdings of the National Archives MEMBERS T . A . J E N N I N G S , Pr e s . JO HN QUOTATIONS T . O W E N , Vice-P r e s . SUBJECTTO MARKET CHANGES NATIO NAL HAY AS S O CIA TIO N G R AIN D E A LE R S N ATIO N A L A S S O CIA TIO N C L Y D E J E N N I N G S , S e c . -T r e a s . MERCHANDISE B .R O K ER S A S S O CIA TIO N ♦Je - O n n in g s w en & J e n n in g s INCORPORATED B R O K E R S V T GRAIN HAY St D I S T R I B U T O R S FEED PRODUCE GRO CERIES December Twenty Fourth Thirteen Hon* Woodrow Wilson, The Whitehouse, Washington, D. C. Dear Mr. President, It is with a great deal of pleasure we learn that at last the "Glass-Owen Currency Bill" is a law. These gentlemen have fought an up-hill battle all along the line and have only won by their determination and the merits of their bill. I congratulate you, the fathers of the bill and your administration. Now - would it not be a fitting tribute to these gentlemen to have one of the reserve banks located in Lynchburg? Both are Lynchburg "boys”, being born and reared in this city. Mr. Glass is still a resident, 1tho Mr. Owen obeyed that impulse — "Go West young man”. I think that it would be a noble tribute to the men who for months have worked to put the currency system of the United States on a better basis. Isn't that the way to show our appreciation now and not wait until they have passed away to have their praises sung in cold print? - - What think you - Mr. President? Wishing you and yours a most Merry Xmas and with sincere hopes that the New Year will have many good things in store for you, CJ-JDW I am, Reproduced from the Unclassified I Declassified Holdings of the National Archives BCW. Janua r y 1 5 , 1014 * Sirs In I bag t o 1 0 th B oard f i c© ury fu r th e r th e my t e l e g r a m C o m m itte e w i l l S e c reta ry B u ild in g , to of th e id v i s e t h a t t h e h e a r i n g s o f th e R e s e r v e O r g a n is a tio n of r e fe r e n c e of and t h a t fra n . 10 A*M* u n t i l 4 . 3 0 th e b e h e ld T reasu ry, su ch h e a r in g s P.fcU, w ith In w ill in th e th o o f- T reas c o n tin u e in te r m is s io n fo r lu n c h * If no a to lis t have you c a n of th o se th is as c o n v e n ie n tly who w i l l arran ge appear I a memorandum f o r th e s h a ll to fu r n is h be g la d C o m m itte e * R e s p e c tfu lly , R eserve S e c r e t a r y *ro tem B.infc O r g a n i s a t i o n C o m m itte e * Mr# J o s e p h 0m B row n , P r e s i d e n t , C i t i z e n s M o t i o n a l B an k, R a l e i g h , N o r t h C a r o l i na* Reproduced from the Unclassified / Declassified Holdings of the National Archives T h e C it iz e n s Na t io n a l Ba n k J O S E P H G. B R O W N , P re s id e n t MOTMWHPHM A . B, A N D R E W S , V i c e - P r e s i d e n t H. J .Y O U N G , V i c e - P r e s i d e n t G. H . A N D R E W S , C a s h i e r R A L E IG H ,N O R TH CAROLINA Jan* Hon* K . 0 . 1 0 , 1914 < E llio tt, S e c r e ta r y R ese rv e Bank O r g a n !z a t io n C o m m ittee, W a sh in g to n , D* G. B ear S i r : I b e g to acknow ledge r e c e i p t a d v is in g me t h a t th e com m ittee from t h i s by th e o r g a n i z a t io n corrraittee on Jan* o f you r te le g r a m s t a t e w i l l b e heard 1 5 t h , and I have n o t i f i e d a l l th e p a r t i e s a c c o r d in g ly * Thanking y o u , I b e g to r e m a in , Yours v e r y t r u l y , P r e s id e n t• Reproduced from the Unclassified / Declassified Holdings of the National Archives TREASURY DEPARTMENT TELEGRAM. WHERE WRITTEN; Raaerve Washington, Bank O r g a n i s a t i o n Coiaraittaa. January 10, 1914. Josoph G* Brownf C ltia a n a n a t i o n a l Bank Raleigh, N* C. Your lattar Sacrattry Daniels* fiftoonth aa auggaatad* Plaaao notify part lea* Reserve OFFICIAL b u s i n e s s . COMMERCIAL RATES. COLLECT. Ralo igh will bo hoard January Bank Secretary pro tam Organization Committoo OFFICIAL. Departmental Stock Form 212SL Reproduced from the Unclassified / Declassified Holdings of the National Archives Judge E l l i o t t : Mr. Smith, in the o f f ic e of the Secretary of the Navy, c a lle d up and stated he had some communications from the d ele ga tion of Raleigh bankers in which they request that the date (January 12th) they are to be heard be changed to the same date Richmond bankers are heard* Reproduced from the Unclassified I Declassified Holdings of the National Archives TREASURY DEPARTMENT TELEGRAM. WHERE WRITTEN: Zgfc \§SSB 1 Washington, ^===^ RESERVE BANK ORGANIZATION COMMITTEE T 1° February 7, 1914* Chairman, Chamber Commerce San Antonio, Texas Organisation Committee will hear San Antonio representative* at hearing in Federal Court Room, Austin, February ninth, beginning nine A.U. Please hand list of those desiring to be heard to Na» tional Bank Examiner J.L.Panlx, who is assisting in arrangements# Secretary, Reserve Bank Organisation Committee O F F IC IA L B U S IN E S S . G O VER NM ENT R A TES . C harge T reasury D OFFICIAL. e p a r tm en t, 2— 6827 A p p r o p r ia t io n for _____________________________________________________________________________________________________________________________ T h e a p p r o p r ia t io n f r o m w h ic h p a y a b le m u s t b e sta te d o n a b o v e lin e . D E PA R TM E N TA L S T O C K FORM 2128* Reproduced from the Unclassified I Declassified Holdings of the National Archives TREASURY DEPARTMENT TELEGRAM. WRITTEN: RJKSKRVS Washington, BANK ORGANIZATION COMMITTEE February 7 j 1914. f TO Chairman, Clearing House Association, San Antonio, Texas• Organization Committee will hear San Antonio representative* at hearings to be held Federal Cigart Room, Austin, February ninth, beginning nine A«H* Piea#a hand list those desiring to be heard to National Bank Examiner J.L.Penlx, who Is assisting in arrangements* Seorafcry, Reserve Bank Organisation Committee* OFFICIAL. O F F IC IA L B U S IN E S S . G O V E R N M E N T R A TE S . C harge T reasury D ep a r tm en t, 2— 6827 A p p r o p r ia t io n for ______________________________________________________________________________________________________________________ t_____ The appropriation from w hich payable must be stated on above line. DEPARTMENTAL STOCK FORM 2128* Reproduced from the Unclassified / Declassified Holdings of the National Archives gepuidmmt Blue 14*0 R 35 Blue * ^ ELEQRAM Waco Tex Jan 30 1914 M C Elliott Bank Organization Committee ^aahn DO Tour Telegrams received parties desiring to appear before Committee from our organisations are John F Wright Geo S McGhee F £ IcLarty W L Edmond A C Patten S H MoAsban Waoo Clearing House Waoo Chamber of Conmeroe 11Op Reproduced from the Unclassified I Declassified Holdings of the National Archives TREASURY DEPARTMENT TELEGRAM. WHERE WRITTEN: Washington, A vl V riskrvf: bank organisation m m t r t m January 1914. TO Chatman* Chamber Contra©rcaf Waco* flsai* Hearing of Coma!ttoe will b* held fmia r . Court Roora, Auatin, a1 llosday, February ninth* nina A.11. Will he glad if 70U will wire me list thoee desiring to appear* mailing duplicate to Bank Kxaainer J.L.Fenix, four hundred eight East featharford Street, Fort Worth. Secretary R#«orva Bank OrganixatiOB Committee* O F F IC IA L B U S IN E S S . GOVER NM ENT R A TES. C harge T reasury D f l l 'T T f f T A T. OFF IUI Ai* • ep a r tm en t, 2— 6827 A p p r o p r ia t io n for ______________________________________________________________________________________________________________ ______________ The appropriation from w hich payable must be stated on above line. DEPARTMENTAL S TO CK FORM 2128 Reproduced from the Unclassified / Declassified Holdings of the National Archives TREASURY DEPARTMENT TELEGRAIVi. WHERE WRITTEN: Washington, RISER VS BASK ORGANIZATION C O lfr 'I 'm B * January 29t 1514* f TO Chairman, Clearing Houaa Assoclutlea, Vaco, Texa** Hearing o f Committee iti 11 bo ha Id F od oral Court Boo®, A u s tin , &onJayf F ebru ary n in t h , nliw A #H . W i ll bo g l a d i f you w i l l wira m m H a t th oae dtslriog to be h e a rd , m a ilin g d u p lic a te t o Bank exam iner J .L .P d n ix , fo u r bund rad e i g h t S aat % ‘eathe r f ord S t r e e t , F o rt f o r t h . Secretary Reserve Bank organisation Corar.i ttoe* OFFICIAL* O F F IC IA L B U S IN E S S . G O VER NM ENT R A TES . C harge T reasury D ep a r tm en t, 2— 6827 A p p r o p r ia t io n for — _________________ .__________________________________________ The appropriation from w hich payable must be stated on above line. DEPARTMENTAL STO CK FORM 2 128. Reproduced from the Unclassified I Declassified Holdings of the National Archives I J Reproduced from the Unclassified I Declassified Holdings of the National Archives C. L. DAVIDSON 0 . A. BO YLE P R E S ID E N T C H A IR M A N W AYS A N D M EA N S C O M M IT T E E F. C . WOOD F IR S T V IC E -P R E S ID E N T C H A IR M A N T R A F F IC B U R E A U W ALTER P. 1N N E S TR E A S U R E R C . H. SMYTH 201-207 BARNES BUILDING S E C O N D V IC E -P R E S ID E N T C H M , IN D U S T R IA L B U R E A U A C T IN G G E N E R A L S E C R E T A R Y A N D T R A F F IC C O M M IS S IO N E R TELEPHONES MARKET 964-965 J . H. STEW ART T H IR D V IC E -P R E S ID E N T C H M . P U B L IC IT Y B U R E A U MARTIN E. CASTO R. H. FAXON f I N D U S T R IA L A N D P U B L IC IT Y C O M M IS S IO N E R W ichita, Kansas A. O. RORABAUGH F O U R TH V IC E -P R E S ID E N T C H A IR M A N C IV IC B U R E A U January 2 4 , 1914. My Dear Vr, E l l i o t t : Complying with the assurance which our committee brought back from Kansas C ity where i t was heard before your committee, that i f I would transmit our memorandum to you i t would be placed in the proceedings, I am herewith inclosin g it # I tru st there w ill be no doubtj about th is statement appearing in the record ae having been submitted by the Wichita committee at Kansss C ity , January 2 3 . Very sincerely yours ty Commissi ontr. IX C. E l l i o t t , Secreta: . Reserve Bank Organiz*_______ ______ . . . 9 Washington, D, C, RHFx Inclosure Reproduced from the Unclassified / Declassified Holdings of the National Archives m m km m . SOME OF THE REASONS WHY WICHITA, KANSAS, SHOULD BE RECOGNIZED AS A BRANCH BANK UNDER THE BANKING AND CURRENCY ACT. -0Wichita has a population of 64,ooo. Wichita s®rv®s a territory covering south-contral and west®rn Kansas, north ern Oklahoma, th® Manhandle of T®xas, 1f®w wexico, and aastern Colorado. In wichita territory mor® than 1 billion dollars in agricultural crops ar® produced annually. Wichita is th® l«ading manufacturing and distributing c®nter in this section of th® Southwest* Its manufacturing establishments, large and small, number 315. They employ 7ooo people* Th«s® employes are paid 2 1-4 million dollars* Th® capitalization of th®s® institutions is 12 millions* The annual output of man ufactured products is 33 millions. Th® jobbing houses of Wichita include all lin®s and th® annual volum® of business is tr®m®ndous, Wichita has th® best railroad facilities in th® Southw#st. Th®r® ar® six lines entering tho city and 15 dir«etions ar® penetrated by these lines and their branches. In addition to this. s®rvic®, th®r® is interurben service. Wichita is immediately accessible to any section of th® Southwest. Union Station and track elevation, at an expens® of 2 1-4 million dollars, has just been compl®ti There are 56 pass®ng®r trains daily and th® postal facilities on th®s® trains, in special quarters in Union Station, and in the ®xcellent postoffice, are un surpassed anywher®. .Wichita has 14 banks, four national and t®n state* Thtir capital and sur plus ar® 1 1*2 million dollars. Their deposits ar® 13 millions* Bank clearings for 1913 war® #173,719,811.22. Wichita points with ®xc®*ding prid® to its bank clearings, as th®y app®ar w®®kly, in comparison with any other city of its siz® or like importance* Postal receipts at the Wichita postoffice in 1913 were $3o5,928.75* A constant and very large gain has been shown in postal receipts every week, month, and year, since 189o, when these receipte w®r® but |66,344.ol. Building permits in Wichita in th® y®ar 1913 numb®r®d 195, and aggregated $l,o87,365«oo. In thia connection, th® American Contractor, of Chicago, an authority, said in its issu® of January lo, 1914, referring to a few phenomenal gains in 7o cities enumerated: "Thus the pwrmits issued in Buffalo for the month gained 257 percent; in Cedar Rapids, 216 percent; in New Haven, 516 percent; and in Wichita, 649 percent." The Wichita Union Stockyards handled 11,887 cars of livestock in 1913. Two packinghouses, with a payroll of over looo, make meat products amounting to 17 million dollars annually. In 1913, th® Wichita Board of Trad® handled 14,173 cars of grain. Reproduced from the Unclassified I Declassified Holdings of the National Archives January 28th, 1914* 3 I B iI to f o a t i f g the receipt of your ekoret* letter of Jami&xy £4th and to advise that your isamomntas will be placed i . the nrocee&ings cm aa ex n hibit In oo!moot ion with the hearing held at Kansas City# requested* It ^iii be nailed to th* at tention of the Cojarsittee and considered by it la de termining the qiimtlon involved. Eespeotfolly* Secretary, Reserve Banit Organisation Committee. H r. S . H* Paxon* Industrial and ?ixfelieity Qwmiwiomr* £01»S07 Barnes S u ild iiig , Wiohita* Kanaaa. Reproduced from the Unclassified I Declassified Holdings of the National Archives . L. D A V ID S O N O. A. P R E S ID E N T P. H. CHM. H, W ALTER M A R T IN V IC E - P R E S ID E N T IN D U S T R I A L BUREAU J? STEW ART 2 0 1 -2 0 7 B A R N E S BUILDING TELEP H O N ES E. C A S TO A N D T R A F F IC M A R K E T 964-965 C O M M I S S IO N E R R. H, FAX O N I N D U S T R I A L f t P U B L IC IT Y C O M M IS S IO N E R W IC H IT A , K A N S A S A . O . RORABAU FO URTH 1N N ES A C T IN G G E N E R A L S E C R E T A R Y T H IR D V IC E -P R E S ID E fc n C H M . P U B L IC IT Y B U R E V IC C H A IR M A N P. TREASURER SM YTH SECOND J. M EANS C. W OOD F IR S T V I C E - P R E S I D E N T C H A IR M A N T R A F F IC B U R E A U C. BO YLE C H A IR M A N W A Y S A N D C O M M IT T E E C December 2 7 - th, 1913, Siy dear l r McAdoo;ll l. In order to avoid concentration of capital in large f i i e — « one ctrs of the frequent arguments in the debates while the recent currency bill was pending — - there is much logic in the location of regional banks in cities having less than seventy five thousand peculation. If the Organization Board should take this view, I wish to submit the application of vTichita, Kansas, a city of sixty-three thousand and the commercial and financial center of the Southwest, as one of the reserve cities. Wichita will, if necessary, furnish a suitable building for one year, or more, rent free. Requesting careful consideration of this application by vonr 3oard, I am Very sincerelv ^ours, President. Honorable 71H i am G. LIcAdoo, Chairman,Organization Commitee of Reginnal Bar.Ks, Washington, P. C. Reproduced from the Unclassified I Declassified Holdings of the National Archives Brief of Wichita Clearing House Association In Support of Its Petition for a Branch of the Federal Reserve Bank of Kansas City to be Located at Wichita, Kansas Statement of weekly clearings of three leading cities in Kan sas and Oklahoma for five consecutive weeks in 1919 as announced by Bradstreet. ^ City— June 12 June 19 June 26 July 10 July 17 Wichita ________ $11,252,000 $12,625,000 $11,103,000 $12,895,000 $15,158,000 Oklahoma City___ 11,226,000 10,115,000 9,932,000 9,516,000 13,622,000 Tulsa __________ 8,420,000 9,768,000 9,328,000 8,464,000 12,191,000 FOREWORD Wichita banks base their petition for a branch of the Kansas City Federal Reserve Bank on the reasons hereinafter set forth in detail, which may be outlined thus: The natural and inevitable trend of banking business from Oklahoma and Southern Kansas is North and East to Wichita. With no artificial stimulus, that business is cen tering here today. A branch bank at Wichita can serve all of the banks in the territory outlined, comprising a large portion of Southern Kansas and all but' the extreme Eastern part of Oklahoma, better than could a bank located in any other City in this Federal Reserve District. Ninety per cent of the items that come to Wichita from the district outlined, travel in their natural and quickest course toward the point of ultimate liquidation. Wichita bank clearings already exceed those of every other City in Kansas and Oklahoma, and there is almost no point in that territory that cannot be covered to or from Wichita by overnight mail service. Other reasons, well worthy of consideration, will be set forth herein, but the above are fundamental. They command attention. They go to the very heart of success in the banking system. They cannot be ignored without transgressing the principles on which the Federal Reserve System was founded, lessening its efficiency, causing waste and loss to its members, and trouble for those in charge of its administration. Relying upon the justice of their claims, the soundness of their contentions and the open mindedness and sincere purposes of the honorable Board of Directors of the Federal Reserve Bank of District No. Ten, the banks of Wichita submit their case in brief, to be supplemented by such additional information as oppor tunity and occasion may afford. THE WICHITA CLEARING HOUSE ASSOCIATION. WICHITA AS A FINANCIAL CENTER The normal and natural trend of all financial transactions in this section of the United States is toward the north and east. Wichita’s banking territory, that is the territory in which Wichita, banks are supreme, is in the main to the southeast, south and southwest. In the accompanying map outlining this territory, a small section to the northwest, north and northeast is claimed be cause of its immediate proximity to Wichita, but the volume comes from more southern points. Wichita is today unquestionably the financial clearing center of the larger portion of Kansas and Oklahoma. It is solely due to the natural flow of business that this has come about. In consid ering Wichita’s supremacy in this territory today, it should be re membered that there has been no artificial stimulus of ally kind and not even a united effort on the part of Wichita banks up to the first of July of this year to make this city a financial center. Wichita has had no organized clearing house and put forth no propaganda in its own behalf. The financial transactions center ing there are due to the operation of laws governing the flow of business. Wichita is therefore the logical location for a branch of the Federal Reserve Bank to serve the interest of Southern Kansas and Oklahoma in the most efficient, economic and satisfactory manner. Comparative statistics as to the volume of clearings in Wichita, Oklahoma City and Tulsa, the three clearing centers in this territory are given below over a recent period to illustrate the volume of business each city is handling. Both Oklahoma City and Tulsa have organized Clearing Houses with paid managers which have been showing worthy enterprise and a progressive spirit in developing those towns as clearing centers. On July 1st of this year, Wichita organized a clearing house, the activities of which will doubtless contribute to financial progress hereafter, but in the comparative statistics submitted, no such activities enter into Wichita’s development as a clearing center. WICHITA’S GROWTH IN BANK CLEARINGS In five years tlie bank clearings have increased from $175,_ 000,000 to $500,000,000._____________________________________ Million* “ 600 300 200 100 Bradstreet’s Report on Clearings Statement of weekly clearings of three leading cities in Kan sas and Oklahoma for five consecutive weeks in 1919 as announced by Bradstreet. City— June 12 June 19 June 26 July 10 July 17 Wichita ________.-$11,252,000 $12,625,000 $11,103,000 $12,895,000 $15,158,000 . Oklahoma City___ 11,226,000 10,115,000 9,932,000 9,516,000 13,622,000 Tulsa __________ 8,420,000 9,768,000 9,328,000 8,464,000 12,191,000 That this growth has been gradual and steady is shown by the statistics for a period from 1914 to 1919, giving total volume of clearings each year by Wichita banks as follows: Wichita Bank Clearings for Five Years 191 4 $179,209,691.94 191 5 196,134,340.93 191 6 254,066,932.57 191 7 341,454,209.36 191 8 447,271,958.36 Clearings for the first half of 1919 total $259,516,254.57. As the clearings for the last half of the year will doubtless exceed this amount, it will be observed that the year 1919 will show a greater increase than any previous year. Where do these clearings originate? An examination of the records of Wichita banks show that there are 715 banks carry ing accounts with Wichita banks as correspondents and ninetyfive per cent of the volume of business from these banks comes from Southern K|ansas and Oklahoma, the territory of which Wichita is the banking center. Map No. 2, submitted herewith, shows the number of bank towns in this territory. The mail sched ule printed in this brief gives the exact hours of departure and arrival of trains from the leading points in this territory and by reference to it, it will be seen that from the farthest southern point in Oklahoma, for instance Ardmore, mail can reach Wichita over night and similar service is afforded for return. Mail facilities constitute one of the greatest factors in building up a financial cen ter. Wichita has unequaled facilities for the territory outlined. To attempt to serve all of this territory from any other point would necessarily result in part of the territory having good service and a part of it poor service. Wichita can serve it all and at the same time keep its business in the same natural trend. Hence a Federal 1 Wichita’s Banking Capital. The growth of Wichita as a banking center is well illustrated by the record of its increase in banking capital and bank deposits during the past five years. The aggregate of the capital, surplus and undivided profits and the aggregate of deposits in Wichita banks on June 30th of each year is shown in the following table: Capital, Surplus and Undivided Profits 1915 1916 1917 1918 1919 $2,167,903.03 2,393,612.23 2,873,041.28 3,619,261.55 4,548,271.07 Deposits $15,312,190.10 19,492,628.15 32,864,451.72 33,580,362.12 41,424,663.89 Wichita Branch Bank Territory Wichita’s banking territory for a branch of the Federal Re serve Bank includes all of Southern Kansas and Oklahoma lying south and west of the following railway lines, and including all cities and towns on these lines: All of Kansas south of a line following the main line of the Santa Fe from Colorado through Garden City and Dodge City to Great Bend, thence along the direct railroad line to Marion, thence south through El Dorado and Augusta to Winfield; thence east to Independence; thence south through Coffeyville and Bar tlesville to Tulsa; thence southwest through Shawnee and Pauls Yalley to Ardmore. WICHITA’S WHOLESALE AND JOBBING TRADE Approximately $50,000,000.00 in wholesale and jobbing trans actions is the annual volume handled by Wichita banks. Statistics for the year 1918 show the following leading items: Groceries________________________$7,000,000 Dry Goods______________________ 4,500,000 Fruits and other produce_________ _ 4,000,000 Reproduced from the Unclassified / Declassified Holdings of the National Archives Reserve Branch Bank located in Wichita can be more economic ally operated and give better service to the banks in Southern Kan sas and Oklahoma than a branch bank located at any other point. Reproduced from the Unclassified / Declassified Holdings of the National Archives W IC H IT A ’S TR IB U T A R Y B A N K T E R R IT O R Y All points in Southern and Southwestern Kansas and Middle and Western Oklahoma have overnight mail service with Wichita Automobile accessories and tires_ 4,000,000 _ Drugs_____________ ______________ 3,000,000 Hardware_______________________ _ 3,000,000 Furniture________ ______________ 1,500,000 Crackers, etc______________ ______ 1,500,000 Other large items are cigars, electrical goods, building ma terials, millinery, paper, hats, sporting goods, books, stationery, dental supplies, etc. Ninety per cent of Wichita’s wholesale trade is in the territory outlined as Wichita’s banking territory, that is, the large part of Southern Kansas and all but the extreme eastern portion of Okla homa. Railroad facilities, prompt arrival of shipments and low freight rates due to short hauls are, of course, prime causes of this wholesale center. As bank clearings are largely made up of trade transactions between the financial center and its trade territory, it can be easily realized that the proportion which the jobbing business of Wichita has obtained is a big factor in the bank clearings of Wichita which are now the largest of any city in Kansas or Oklahoma. WICHITA’S LIVE STOCK RECEIPTS Wichita is the central live stock market for three-fourths of the cattle raising sections of Kansas, Western Oklahoma, and the Texas Panhandle. The Jacob Dold Packing Company, and Cudahy Packing Company have steadily growing plants here, and a live stock market of the first order causes this business to run into many millions as recorded by Wichita banks. Here is the remarkable showing of the industry as gathered from accurate records kept at the Wichita Stockyards over the last five year period, showing value of live stock handled in that period: 191 4 $19,714,000 191 5 21,407,000 191 6 31,390,000 191 7 38,478,000 191 8 50,900,000 Thus, in five years, the volume of live stock business handled at the Wichita yards, increased 150 per cent. By far the greater part of this volume came from Kansas and Oklahoma, within the limits shown as Wichita’s naturally banking territory. These 1914 1915 1916 1917 1918 Reproduced from the Unclassified / Declassified Holdings of the National Archives WICHITA AS A LIVE STOCK CENTER Sales of live stock at the Wichita yards now exceed $50,000,000 per annum and the total volume of live stock sales and live stock loans handled by Wichita banks is estimated at $100,000,000 shipments of cattle initiate a large volume of bank clearings cen tering in Wichita. Wichita banks also lend on cattle approximately 'Twenty-five Million Dollars per annum, direct, besides the larger volume of indirect loans on live stock made through correspondent banks, making the total volume of clearings from the live stock business around $100,000,000. WICHITA AS A MANUFACTURING CENTER Manufacturing on a large scale, and in varied lines, naturally creates a large volume of financial transactions between the banks in the manufacturing center, and the banks in adjacent territory where the factory products are marketed. Wichita’s development as a manufacturing center during the past decade is one of the marvels of the plains. Only a few years ago the suggestion of a City of factories being located on the Kan sas prairies brought a credulous smile to the staid business man of older sections of the United States. But that which was thought impossible has already happened; and the transforming process, from an agricultural and cattle raising center, to a humming fac tory center with the long dinner pail brigade, is now going for ward at a rapid pace. Authentic figures tell the story strikingly. Wichita has in active and successful operation today, 251 manu facturing plants, not counting branches of some of the larger fac tories which have been built in adjoining towns and cities to over come labor shortage. These 251 factories are exclusive of bake shops and print shops, of which Wichita has some of the largest in the Southwest. The facts as to Wichita’s development along the factory line are shown by the following statistics from the Census reports and supplemented by late reports of the Wichita Manufacturers’ As sociation. Year. Gross Output. ___________$11,668,000 191 4 191 5 12,500,000 191 6 19,300,000 191 7 26,400,000 191 8 _ 35,000,000 Approximately 75 per cent of the products of Wichita fac tories are marketed in Wichita’s banking territory, as shown on WICHITA AS A MANUFACTURING CENTER Thirty-five million dollars of products manufactured in Wichita are handled through Wichita banks and their corre spondents annually. the map. This creates a large volume of exchange and clearings between banks in the scores of Cities and towns in Wichita terri tory, and Wichita banks, and this steady flow of remittances cen tering at Wichita is increasing month by month. WICHITA AS A GRAIN CENTER It is well known that Wichita is becoming one of the greatest grain centers in the United States. In the year 1918 Wichita grain companies handled a volume of business through Wichita banks, exclusive of loans, totaling $60,154,517.89. This is for the twelve months period from July 1,1918, to July 1, 1919. The succeeding twelve months will show at least a twenty-five per cent increase and probably nearer fifty per cent. WICHITA AS A MILLING- CENTER During the twelve months from July 1,1918, to July 1, 1919, the milling companies of Wichita handled, through Wichita banks, financial transactions, exclusive of loans, $35,500,995.00. The above vast amount of grain products were marketed very largely in the banking territory which a Federal Reserve Branch Bank of Wichita would serve and form a part of the continuous flow of trade and exchange in bank clearings between Wichita and towns in that territory. WICHITA AS A PRODUCE MARKET The increase shown in bank clearings in Wichita arises in part from the wholesale and jobbing trade in various lines of produce, such as potatoes, fruit, berries, etc. The record of the houses doing an exclusive business in this line in Wichita for the past five years is as follows, 191 5 $2,825,047.43 191 6 4,090,434.70 191 7 6,896,393.26 191 8 ________ 7,323,667.95 191 9 ____ 7,723,609.74 The record for 1919, based on the first half of the year will show an increase of $400,000.00 over 1918. Owing to the perishable nature of the product, shipments are confined almost entirely to Wichita territory so that ninety-five per cent of this trade is with WICHITA AS A PRODUCE CENTER Fruit and produce checks and drafts aggregating $7,500,000 annually are handled by Wichita banks. Millions 8 2 1915 1916 1917 1918 1919 points within the district outlined as Wichita’s natural banking territory, Southern Kansas and Oklahoma. WICHITA AS AN INSURANCE CENTER Three liability insurance companies, out of scores having branch offices in Wichita, give the following figures from their re cords, showing the growth and volume of liability insurance. These figures are for these three companies only, and are submitted to indicate fairly the growth in this line: 1916 1917 1918 No. 1 $________ $785^119.71 $856,167191 No. 2 49,268.52 153,677.74 268,495.43 No. 3 363,563.81 560,216.22 631,384.94 *Based on figures for six months. 1919* $864,478.34 588,406.78 754,402.67 The above figures represent cash deposits in Wichita banks in the period indicated, by Three companies only. What the total volume of such deposits is, or the total clearings originating from the City as a center of activity in this line, it is not possible to rea sonably estimate, but the above figures, in connection with other facts stated in this brief, indicate why Wichita’s bank clearings exceed those of any other City in Kansas or Oklahoma. WICHITA’S AUTOMOBILE CLEARINGS. Because of the numerous changes in agencies, it is not possible to obtain reliable statistics as to the automobile industry. How ever, that Wichita is a great central market for automobiles for Southern Kansas, Southwestern Kansas and a large part of Okla homa, is easily demonstrated. Some Sixty odd dealers act as wholesale agents, or factory representatives of automobiles and auto accessories. The total volume of sales in 1918 was between Pour and Pive Million Dol lars. Automobiles are shipped daily in large numbers from Wichita to various points in her banking territory, and the credits and balances thus created appreciably increase the volume of financial transactions naturally centering in Wichita. THE TRACTOR INDUSTRY Wichita is today one of the greatest centers in the United States for the rapidly developing farm tractor industry. During WICHITA’S LEADING INDUSTRIES From which the largest volume of bank clearings in Kansas and Oklahoma is largely derived. ANNUAL GRAIN AND GRAIN PRODUCTS, $95,000,000 ANNUAL SALES OF LIVE STOCK, $50,000,000 ANNUAL WHOLESALE AND JOBBING, $50,000,000 ANNUAL MANUFACTURED PRODUCTS, $35,000,000 AUTOMOBILES AND TRACTORS, $10,000,000 PRODUCE, $7,500,000 BROOM CORN, $5,000,000 the current month sales of tractors in Wichita have broken all records in all American cities. These tractor sales have run over $100,000.00 in a single day, and it is not possible to fairly estimate the total volume which for the present month alone, July, 1919, will easily run into millions. All well posted men can foresee the future of the tractor in dustry in the United States and as Wichita has become established as a center in the Southwest, the volume of business will undoubt edly continue to grow to very large proportions. THE OIL INDUSTRY The oil industry has grown to mammoth proportions in Wich ita ’s banking territory. The city is so located that it is easy of access from all the leading oil producing fields, such as Peabody and Elbing on the north, Butler County on the east, Bartlesville, Tulsa and Cushing on the southeast, Newkirk, Ponca City and Ardmore on the south, Enid, Garber, Walters, Wichita Falls, south and southwest and the new fields opening in Western Oklahoma. Because of this situation, Wichita is handling a large volume of oil clearings which will doubtless continue to grow as the industry develops. Banks in the oil centers carry accounts in Wichita to clear these items and a Federal Reserve Branch Bank at Wichita would be conveniently located for the clearing of the large volume of items originating in the various oil centers of the Southwest. This is a very important matter as anyone familiar with the great extent of the industry would readily recognize. BROOM CORN Wichita is the largest broom corn market in the world. The volume varies greatly from year to year, depending on the crop and price, but the financial transactions in this line Jiandled each year by Wichita banks runs into the millions. WICHITA, A CONSERVATIVE ENVIRONMENT The memorable boom days of the 80’s left their impression in delibly upon the people and the business transactions of Wichita. There is probably no city in the Southwest that has a greater dread of inflation in business and is less inclined to over-expansion. While the city is growing by leaps and bounds today, its business is conducted along ultra conservative lines. A Federal Reserve Branch Bank located in snch an atmosphere will be free from any danger of using its prerogatives and powers to grant unwarranted credit. AN ALL YEAR ROUND BANK A branch of the Federal Reserve Bank located at Wichita would be of service all the year round because of the varied nature of the industries and products of its territory. It would reach into the cotton country on the south, the cattle country on the south west, the oil sections of Kansas and Oklahoma, the great grain belt of these two states, and the manufacturing and jobbing cen ters of both states. Serving these industries, it would be a wellbalanced bank serving special needs at each season of the year and doing a good business all the year round. WICHITA MAIL SCHEDULE The following mail service schedule in actual operation to and from Wichita and widely separated points in her banking terri tory, establishes that the most distant points can be reached with one night service. Clinton, Okla.—Lv. 4 :08 p. m.; arrive Wichita 12:45 a. m. Returning—Lv. Wichita 6:30 p. m.; arrive Clinton 10:05 a. m. Fairview, Okla.—Lv. 3:00 p. m.; arrive Wichita 12:45 a. m. Returning—Lv. Wichita 6:30 p. m.; arrive Fairview 12:45 a, m. Chickasha, Okla—Lv. 6:20 p. m.; arrive Wichita 12:45 a. m. Returning—Lv. Wichita 6:30 p. m.; arrive Chickasha 1:45 a. m. El Reno, Okla.—Lv. 4:20 p. m.; arrive Wichita at 10:15 p. m., or Lv. 7:30 p. m.; arrive Wichita 12:45 a. m. Returning—Lv Wichita 6:30 p. m.; arrive El Reno at 12:15 a. m„ or Lv. Wichita at 1:20 a. m. and arrive El Reno at 6:45 a. m. Enid, Okla.—Lv. 6:30 p. m.; arrive Wichita 10:15 p. m. Returning—Lv. Wichita 6,30 p. m.; arrive Enid at 10:40 p. m. McAllister, Okla.—Lv. 8:05 p. m.; arrive Wichita 8:50 a. m. Returning—Lv. Wichita 7:20 p. m.; arrive McAllister 9 :50 a. m. Ardmore, Okla.—Lv. 12:23 a. m.; arrive Wichita 11:05 a. m. Returning—Lv. Wichita 5:20 p. m.; arrive Ardmore at 3:58 a. m. Ponca City, Okla.—Lv. 7:10 p. m.; arrive Wichita 10:30 p. m. Returning—Lv. Wichita 5:20 p. m.; arrive Pbnca City 8:25 p. m. Tulsa, Okla.—Lv. 10,15 p. m.; arrive Wichita 8:50 a. m. Returning—Lv. Wichita 7:30 p. m.; arrive Tulsa at 8 :00 a. m. Bartlesville, Okla.—Lv. 11:59 p. m.; arrive Wichita 8:50 a. m. Returning—Lv. Wichita 7:30 p. m.; arrive Bartlesville at 5:42 a. m. Muskogee, Okla.—Lv. 11:20 p. m.; arrive Wichita 8:50 a. m. Returning—Lv. Wichita 7:30 p. m.; arrive Muskogee at 6:00 a. m. Alva, Okla.—Lv. 7,55 p. m.; arrive Wichita 11:55 p. m. Returning—Lv. Wichita 6:15 p. m.; arrive Alva at 11:07 p. m. Woodward, Okla.—Lv. 4:25 p. m.; arrive Wichita 12:00 midnight; or leave at 11:15 p. m.; arrive Wichita 6:55 a. m. Returning—Lv. Wichita 6:15 p. m.; arrive Woodward 12:25 a. m. Elk City, Okla.—Lv. 12:40 a. m.; arrive Wichita 1:45 p. m. Returning—Lv. Wichita 6,30 p. m.; arrive Elk: City 11:26 a. m. W IC H IT A ’S C O R R ESPO N D EN T T O W N S * All towns and cities shown on this map have bank connections in Wichita today. These towns have front one to five banks each carrying accounts in Wicl *«§_ • • ♦ t • ♦• • • • • •• * • • • • • •• • • • . . ” .^ c t« T A O .. • *• •• « « • .* •• * • _• • • • • • #___• • •__• •• *• • • I 0 0 • .• Reproduced from the Unclassified I Declassified Holdings of the National Archives vf-HG gcgg Wichitft clearing hone a aa. . Brief .vt petition for aJbrancii. . tarik of the P*E#Bk* of Kansas City* DATE 7089 ISSUED TO :f \ 1■ L ib ra ry Bureau C A T. NO. \V .•-k V . -. ■■ ; ■’ t "v", - ' v .- v ''v- ■
