The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
122.-1 - Dr. A. C. Miller file
Boundnries of FRDistricts
OFFICE
FILE 110
837
STATEMENT FOR THE PRESS.
October 13, 1916,
The Federal Reserve Board today,. acting upon the appeal of certain .:isconoin bankers, voted to transfer the terrin,
tory included in the counties of Monroe, Jackson, Clark, Maratho
counties
Langlade, Oconto and Marinette, of '1isconsin, and all other
in the same State now in the Minneapolis District east and south
thereof, fram the Minneapolis to the Chicago District.
No change
as to northern Michigan.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
The transfer was made effective as of January 1, 1917.
xmatarlif
• —i
To the Federal Reserve Bo-:1.1:
Oltober 5, 1'4)16,
wIscompl prminr,
***
RFPORT OF COMITTFE
* *
•
The Or
janization Committee rendered it
decision assining prt
of Wisconsin to the Minneapolil District and part to the Chico District on April 2, 1914.
W.Lly ballk3 in 93oonsin aaeineA to the Minneapolis District
protest4.
BeinTlin
•
in Otober, 1014, and up to the time of the hearing,
petitions of protest against the decision of the Organization Comlnittee were circulated, and thooe Avre signed in the form of printed
slips and sent to the Federal Reaerve
The formal petiticn to tho Boar, xith thn said s110-1, was filed
early in 11.i.rch, 1915, and a herin?; *aa ordered tor May 20, 1515.
Bctecn March 15th and May 20th a number of 1titter3 favoring
tr,nafer, signed by bankera anA Convesamen, were filed.
At the hearing, May 20, 1915, bricre and arcsunntl wero subrilitted to the Board.
On May 4, 1915, the Board, after deciding a nymbc,r of pending
re1i3trirltiR
patition3, stated that action on other pendin
petitions
will be defarrr:1 until furtlwr exerience in the 01.
.ertion of the
several diqtriota, eir cLiily in the 11t of the nes elnArin alratf,irL
lio
.i
;
:About to
o into effect, and of the extent to thich State Bank. take
nembership in the System, shall have providol the
Board 4th the
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bulletin, June 15, 1915).
nJL.ry lat:A 'for a conclusin.
At thi-3 time the only pinding radiGtrictin
th3e fil, by Wisconsin
!1
So ff..r
fl1 Connecticut Banks.
your Committee i
of tho Board wad
Fetitiona were
iare no mention of thia aecision
a:10 in the W)cord of thia cae, although it greatly
broadened the scope of this and
11other future inluiries on the mat-
ter of rodistriotin.,!:.
At the hearing, counacl for the petitionin
hanka reforred to the
appei,1 r(Ju1aticn4 isaueA by the Board on Auvat 244, 19i4, in 4hich
the Board announcoA that it would not t:ihke tostimeny in pending apl:eals
but would limit tho partio3 to the rncord before the Organization
Committe.
The counoel, basing hit a 7,umsnt ufon thia ruin
of the Board,
oontonjti4 th,A there was not a scrap of ovidence introduced before
the Orl;ani3ation Comittoe favoring th
incluaion of zany v4rt cf
Tiaconain in the Minneavolis District; that cn the contrry, the
evjc1eno
ta
praOtiOally
unanimous in favor of its inclusion in the
Chloe. ,o District; that the MinneapoliJ bankers conceded Wisconsin to
Chicago in a written statement; that in a surimary of the proposed
capital and lulTlua for the Minneaf;olia Bank, no reforttnr:e whataoever
was male to Wiaeondin 11nka; that positively the only evidence relating to Tlisconsin banks was a mar which inoluAed 1,..art of Wisconsin but
which waa withdrawn and the Secretary of the Traury so notified, and
the further fact that St. Paul bankors did at one tiwn wake 3ome vreten3ions to i,art of riscon4in but expre3s1y upon the assumption that
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
the Orff;anization Committee 4hould decide to have only eilht Federal
Reaerve Banku.
Based on the -e fact:it qhich arvarently wore not oit in
10*118
by
the Feder1 Reserve Bank, coun4e1 for the petiticner.1 c2Ar4cA that the
Board was bound as a matter of law, upon thia record, to nlverile the
deciaion of the Opsanination Comittno, it beinr% a3ainut the evidence
and thr 4ei:Ilt of the evidence.
On the othclr hiind, counsel for the ReFierve Bank arlied that the
Reserve Board wal not bound by the record aa 0Aould be an appellu,te
court by the record of the 104er court; that the deciaion of thio Board
waa not. judicial but administrative; that the Board %tam entitled to
1130
it3 own judment and exert knowlede:e, and could take the teDtiiLony
bofore the Organization Committee for what it mas oorth, 2121.1:1emented
by it3 own inquirie.
As a mItter cf fllot, the imtitionerp., althcull taking C1146 very
technical pooition in argument and in their brief, did not confine
themaelve3 to the record before the Orgti.niz4tiGn Coubittee but olt in
evidence actual conditions, tablea, figure, etc., baled on 4otual
exerisnce of the operation of the ostem, ae did also the roalcndentB,
the Federi Reodrve
Briefly atated, the brief and oral arguwent of the petiticnin
banks broOlt out tht Milwaukee ia the bu3ine:3o and financile4 centr
of Wisconsin; that Wiaconsin iu limited in a barkin
and businellJ 33nBe
to the State and part of Michigan, be1nr bounded on the Fat anA Ncrth
by the Great Lake, on the rlest by the Twin Citiei4, and on the South by
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4
. ,
Chicago; tht the tre 1 of Wain44 in th
titicnir
t(irritory is
almo3t entirely North and 3outh beteen aaid territory and Mil.Nukee
Chicago; that thio W42 ahcwn ty thee banka in i914 in
kin
d.
miauion, ohich 4aa given by tho Seoretb.ry of the Trellury, to the
Milwauket; Currency AaJociatic,n for the i33uts of the so-oalled Aldrichis creat(JA with Minne-
Vreci,:in. currency; th:;i,t little or
LO
,
apolis, it almoTt all irigim tin
-go or Iiilwaukcc; that Mi1A.th Chico
e:0114,e
waukirJe 41d Chicago froL6 time immemori
been diiitributin
ocmtera
for thiii otitioning territory; that th(1 trnnl of tht) n:Alroa -N
generally North an
South betwo:In this ttIrritory and Milwaukee and
Chicago; that railroad, telephone ani teleravh rates wevi hi',7her to
Minne.ipolis than to C
CsO
th,tt the railroad jcurnoy to Vinne-
apolis xaa much longer from many i.ointa and more air uitouc thr, to
Mi14aukeee and Ohioap; that an inquiry haA bon made of e.11 or the
244 buraks, State aTid Ntiorl, in the
,
to thc , ,,urJe
or
territory askinL3 as
goneri buksii)o3u in their covmunitie3, !Ind that 234
replioi,J had been received, of ;;Ilich ZOO aaid the general trznd of
3:;
huaine, 4as to and from Chicago, 34 ;said Uinneapoli!i and 10 failed
to reply; that inc1u4ing this Wi4consin territory in the Minnoai.olia
Di3tr1ct prevented the Lanka of Wisconuin which wore in the Ch1ca(3o
Dli4trict from loanin
;:11 fra rt,oaae8 in tho part of risconin in
the Minnear.olis Diutrict, although thie Ditrict xas ralAdly boinis
aottleU awl there
a groat demand for farm loans there, and but
little daraand in the part of 7iscionain in the Chicago Di4tri,lt; that
th6 neesesity of keeping their reserve depositq in the kinneafolis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
- 5Federal Reserve Bank rather thn in Chicao Fedcral Reserve Bank, will
necessitate keepin
even larger accounts with the banks of Vilwaukee
and Chicago, thus reducinr3 their loianing power and. cripplinz their
industria; that the 3114;e5Ition that their difficulties may be removed by the opertion of the clet
,
..rin
ayatcm is not helpful as the
simpler :ay would be to remove thoso difficultie
by trInafer of the
territory; that even in the ,
lestern part of the petitionin
territory
from 90 to 94 of ail tranaactions were with Chicago an. Milva
ukee,
which
ntz.; j
even
reatr in the eaatmrn part; that the re-
servcq lhould ht kept where the busineoll is; that under the
preonnt
division Stte bvika will not join the Federal Reserve Systog aa
under
it their reserves wouli bo separated from the nuptural ohannela
of
trada.
The respcndent, the 'eder;
Reserve B4nk, in ita brief and ar-
6-uLnt olaicI tht the Relerve. Boar
hf71
deoiuicn on its 0, exert jud,7mf,lnt and
1n
i!,ful Authority to rc!qit it
'4'14 Thrt
bounl, au in a juAicial
proceeding, by the record borore the 0;:g4nitiation Committee;
that the
Organization Coffimittoe waa not ;;to bcurva nor wr it even bound
to take
any evidence; that it 4ac merely authotiAsA to take evidence:
it it saw
fit to do so; that it hai power, as did cia3o tho Re3erve
Board, to
diJtrict without t4.kinc; any eviden; that Q .41.,c1rieT;00
uwier the Act
anA net the record before tho; OrAtlution Committee
was the real test;
that neither the Oranizaticr Comtrittet'; nor the
Board had power under
the Act to ac district as tc lfmve Northern
Michigan out off from the
reva.injer of the Diatrict; that the
revlations of the Boarl required
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NO
6
Int
tho aigmi,turea of two-thirda of the bani.4 involveq; thiJA thia roquirod the ligmture of two-tLirda of all the bit.nks in th-, Diatriot,
includik; those not in th6 IA:titioning territory :3.nl tht the 53 banks
$igning the petition 4erc loJa than tho nects3ary tAo-thirda; that
the petition fiAA In /Ltrch, 101L, oontained only three ai.reuture3;
that tho
4,ttaohed to the ietitic,ri Nero not,
i matter of la,v,
signatur; that the
ord
not me4n 3o1(i
CmLt they meant only proper regarJ; thLit in
"am) regran in Section 2 of the Aot did
nany other parts of the United Stt4s the deci4on nt the Organization Othittee did and want neceom4rily interfnm, nore or lef),
exi4tin
c!ntnnola of businaiiii;
other reasona fct it
ith
decision
in the roport of the Ordirtniz4ittion Coulmittee, e.. the neee3Uty
for frovilinz the aiinimum oapit4lization of four mi1liom3 of dillaro p
tiv3 mercantile condition;
f the di.5tr!,.ct, fair diatribution of
av4ilable capital J.ong tha xeup60tiv! diotrict, geographical uitumilroad, mail, tclphone and telegraphic faoilitio,
tin, buoineas activitiez, and future proavecta of gr()wth, etc; that
the 1inneal;oli:3 Bank is the amalleat, cleel--A one, of the Reserve Banks
that the tramafer of the pltitioning territory would leave to the
Minneal)olis Reserve rktilk a wurgin over the foul' million minimum reluirnmInt of only a little over $300,0n; that J.: the .peninsula of
Northern Michin al3o wore tranrrea the margin mould only be
about tl34,000; that tho 2inneihspolis Revqirvo Baa .-cou.i‘i be crill.led
by 4uch a reduotion in its capital and the consequent
reduction in
its reaerve depooitl.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
- 7The Fecierl Rowirve Bank did not put in ivaue the fact th-t
the n4tural and actual wvement of bu4incla
in thc t.rritory
to
and from Milaukoa and Chigo; it admitted that the raiirz)ad paauenger faoilitie3 *ire btttet to Milwukae arid Chioagoi but olied
b13inecvl ivith Reorve 13ank3
roquire per4o1v41 uttendance;
it ottod it h. d no reliutie da.ta
4
to t6Iephne 4nd tele.;ral:h rateu
4
but that probably thore 8a3 not much difference; it pointed out that
the center of the 1Jeititionin
territory
ui 50 tile:; ner Minne-
apolia than Chicio ao that probably rL,ilmad tran312,ortation wan not
cheaper to Chicajp; it olaineA that Ath four Gxoeptionz, lottlIrs
from point o in the territory in
tion, mallod in the afternoon
would be delivcrod in Minneapolia the next morninT; that of the total
redigoounta A.th the MinneapoliF4 Roaorve Banto amountinc: to $541,306,
the banisa in tilia trritory hi ta.k€.nt2770 56; th
transfer
uld prevent the
tha FroFcaed
banks loaning on furls aurtg4Ge3 in
Minneaota, North and SoutA Dakot4. and Montana; that aome of the eight
ban-x9 mfuain
to
in the petition hii.a given thia
that one of thee bankao-the Commeralai Nticn
42
Itheir ro.:,a0n;
of Fc;n au 1,c, -
otatea that it oppoAtd the tr,A.noft tg:cauao it could secure vary much
hiher rA,tes on farm loan3 in Northern Wiaoonain, Min46not, North
and South Dakot
ealA Montana than it could in the Chicago Dirict;
that the North Dakota Bankers Association in it& Builatin of March
30, 15315, 3tatei tht the tran5fe.r mulA prs
.
,vant thaile Wi3cons1n
banksl rrom lcanin
on f4rm mortgafr,e
th
above mentionod States
and urged the banks of North Dakota- to take an active part in a
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
_r
- 80ampaign against the transfer.
The Minnfiapoli4 Reserve Bank alao elaiwe6 that tim ietitiong
were not filed within a reasoluble time after the decisioD of the
Or-:anizaticn CciLittee and should, therefore, he diiimissed.
In tho reply brief and argument
the petitionors
tht
the 1;04cr of review veated in thg FJeij orve Board ia a clontinulm:f tiowir; that the 1:;etitionora filed their petition 4ithir
a rasor
able till1; that the Regulationti of the Board re.luired the aignikturea c
only two
1i
cf the bunks in tho
etitiLnin
torrit(,4y; tilt they
were ail:Ling to a4Nlept a broad and liberal cow;tructic:Ai of tn6 rule ci
the Bori linitin
te4timony to the rocorA before tho
Committee; that the Bot-Ard can take into clonnideration matters of coxmon knowledf3e or facts within the Icno4led7e of it
iraribers; that the
teatilwny befura the Organization CorittM is nct necesarily con-
The petiticners alao 4verreA that the FeierAl Ret4erve Bank had
praatinally admitted 411 thee,44entia1
by the
ileticr54nd 1'ilot;4 ofternd
a'4 to the trend of buaine33, railroad, telephone and teler
ag
facilitiefi; that the 3tatement of the respondent %.ka to naii
delivrieL
in
n1 fro. Minneavolia wa,a not true a.a surlh mail in nehrly all of
the
petitionin
torritory is not delivereJ until the u.fternocn of the
following day, and banke are unable to care for it on that
day.
The rewkondent Re3erve Bank, throuc.01 its oounae
l, also put in
evidence a number of letter3 frog banks in the
otitioninp; torritcry
aomeof Mich had aigned the original petition, indieat
in&• ati4rao-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
"
_
0
"9 tion vith thc oper-tion of th
nnao.13 Fisiera:4 Reaerve Rank, and
in ao,:kil oaae3 evincing a ohanv 0 mind al to the propccoA tranofer.
Thee lrettero werc iron the follo4im, banks:
;
,
2.
4.
b.
8.
7.
8.
1.
10,
11.
12.
13.
14.
Fir0:0
2or1in, Green 1.a.ke County.
Firt Naticwd, Blii.ok River Fail, Jon County.
Firat Nation0,10 Brillion, Calunet County.
Fiv.t Naticnal, Clintonvilie, W=.4.14.aca County.
Wttiai 2vak of Do Pare, 13rtrn CouAty.
Me'r;vrtnqy Natio21a1, GvIon 11.4y0 Bronw County.
Fiat National, liari3hfield, Wood County.
.it Utionaa, No-1 London, 117E,upaiu. Coulay.
0:1,h403h city
nnebav County.
ConAercial Ntiom,41, Nehkotih, Winnebarp ^,Innty.
Rh.,wil.no ;kr.
'11tiorg1, Shaw&no Ck'unty.
First7:;4tIone.1, Buffixlc County.
FAe,7t National Bmnk in Bipon0 Fc,r.41 Ju Lao County.
• •
w
•
Cow,plexviaI ut1
01.'tbk,o; buphs, No3. 5,
elimod th
70 r.n:i p
L.1y it of thF; othu.ra
oiiginU .petition.
:
It iu air Lifioant, howeva- r, to not' th.tt in t
p.)11 taken by tbe
%ant zome wix or Jevori ilonth4 latcr, out of tho 14 bri !lbovoion
ih p
aler of tic rropcolol train3for,
!
%11(4,
tionei, nal 'owl; rive
rive
b3inl thou nilar!recl 1, :3, 1; .L3 44:1a 14 ;;4,bove.
One lxi.nk, - the CcrcI2 NiAtion1 of rervi du Lo,
i7aAJOa Al'OT
oproeinT the 1rur4fer th
tAr:: ita
fact that it ccoliti vt very
much hi:i1Gr dr:41,o0 Irum f-rm Lortf?;a6e. IoiAnf4 in Minnes
ota, North and
South Dakot:,, und Montalia thun it ccula in t
The Re:4,o.cve Bi
aluo 4-draLaJ
ita checks from lounk3 in !ui*comlir no
Uchican raceivoil the bulk of
in the Vinneai.olio Diatrict a.nd
that the iropo3e4 tranofer would cut of
of the clearing ayatom.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Crticro DiatrioL.
frog the benefits
NO action was Ui,kan by the Board upon thi3 petiticA's until
November, 1017;, -;hen the matter '1,14 Aiacuiosei.
to
NO attomkt .4aa
rimArily concerned
liAouiso the Ividence, the ..7:uetion rAised bir,
with viihether to t:41e up the ratter
t that Ulm for final detcrrin-
tion or whether to postpone it.
that the
Some of the membera expre4sed the olAnion,
exprised desire of such 4t, large LLjorlty of the banks c., 1* the telsritory involved ftfuld warrant the ,ntin
some doubt *as exrreaued
volved
of the
etiti(JI, .litheue;h
a to 4hether tha reauoticn of capit6.1 in-
tho A.thara.wal of ro3rvas ytoula not impc‘ir the Minneapolis
Renervo BrIk in ita ability to care tor ita diatrict.
especilly in viuw of the letters introduced by the
Reserve 173nk shcAng L ohanr:e or mind as to the merits of the tr nufer
by some of the b.-nks xhich ht4 aimed the oriciml petition of the
slips att .chcJ thereto, it .?:t_q voted to take 4 poll of ull of the
b:Alke in the territory 4 ,kea %0 be transferred, Ind a poll w-s ,tocoriin,;ly or le
It
an open on
be romemborol thot at this
-vhethor the Rel,serve Wink had
it
quevltion 1140 still
utbority under the Aot to
roduoe, by rodiatrictin;, thq oqpit 1 of a RE?;5drve
blow the
four million minimum imiA)aed ,ta a aondition of cox-encinq
The opinion of th
4nJerAttorney 0-ner41 in the affirimttive 4.44 not r,
s4 unti1 April 15, 1916,
The reluit of thi9 poll,
No, 10; Not voting, 6.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
orimAnally r:InAered,
Aye, 45;
The eiTital and surplus of the bAnks voting Aye Artts 6.4 milions;
of thoe voting No, 1.2 millions; and of those not voting,
,
461 000i
In tha Jecond he,iriw;, held August 8, 1916, wile chn,Les
r000ried in the attitude of thr banks.
ere
aubqtantilly
It 1.1
acourltn to state that ,?tt the time of wild GeoL,n1 hering the banks in
%ht! trii.nsfer mire 53
nd those o.AT:oacld, 2.
On ..T.:.nury 7, 1916, Federal lUlerve Agent Rioh 4roto to the Boord
or to 4 Wmi.)r, tivJ, he wa aurpriaed
orierin
t the
the poll; thcl*t tie Jig not krc
the -1.10ticn
tion of ti
Board in
the Board leairei to r:xlfen
nd that if 4tny tklrritory i;ere tkan from the Minnelis
Bank, other territory alvJuld be
.
del. in compensation.
On 114 15,1916, thn Comittee hz;ofin
char
f the riatter,mon-
aistin3 cf MeJrl. Dino, Warburg Alci. Miller, kle a report.
r(vort it w:,L1 pointed out that to grAit the :4101c ictiticn
in cutting off
In thi ,J
ould rout
22 b4nks in the ul;per lAininsula of Mihig‘in ftvm the
rem:Linder of thu Minneapolis Diotriet; that m4t of the I:stitionin
tinks 40r.i in the 16 counties neareat MilwAukes; that the poll 3ho0J
tht the b:.Lnks in the;3e 16 counties voted Aye, 29 (7%); No. 7 (lain
Not voting, 2 (6); that the oapitAl and Jurplua of th
Aye was 4.3 millions; of those votiru.:1,; No, about
not voting, about 1400,000; thi-lt it
440
1:inirs voting
9)0,000;
nt of thc;4e
renviaqc).ble tirit sone of the
banke nearmit to the Chico DiJtriot voted to rmain in the Minneapolis Diatriot; tivrtt the ,crincipial re. Asn for the ehne n
banks h!J.d thoir ohief buAineJ4rolition
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
that thee
Ath Mi14aukes and Chiaiv
nd
banku , ',Jelled to lontinua to Jo bunisosa through Mils4.Aakee
.
Wago as J. utewsil (214 mt through Minneapolis.
The Committee report a16o atAed th.t
proponlvram
1Hri W3.3 nc considerable
of sviJence of inclonvelnlenle under existing oiraumutunces
.
not le it -pp4rent th.t thore iu .Aly very 6tonI roelin3 on thfl eul)jeot
either one
Chico for feiir ,IIELt it might
f3r even the 16 uotifitiota
the Minn
poi
eken
Bank.
The Committtie conoluded it
report lith
recomend%tion that
the preaent ice, but that the !Atitinin3 banks be
no oluInge be 1014e
informed
t de,;irble to trzAla-
y or ther cther; th,.t it did n
Ash to renew the
,
117 ;ii,t the r)nd of the current yo.:r they '
petition in an amanild fom, the Board '411 he .714 to take it up; it
.Al5J0 expral4ed the belief tht the development oc the ne ,- clearing
,
systom m.y :hnge 3omewlvA the views of tha t.enber bAlks in the District,
Aftr :1 brief discussion it wae felt that it miht he well to
adopt thf: r4ort of the Oomolittee in the hole th&A the opertion of the
3learinG lyatom would make the 'banks more contented 4th thoir
present loct‘tich
nt
i
dliTosed to
,
tr-,-nefer to the Chic
ci)1Itiolle of the petitioner3
Thermarits of
or bu3inua in ',1-w turritory c‘nd
;k4
Dietrict.
to the trend
to the iaeoprinty of
grnting the pJtition, wt!ro it not conaidered by the board, thele questions being left fur future 1(3toriailli.tion in cc they ahoull
Amended petition
t
one future time,
On MAr 24, 1913, a, formal Orlar of the Board
trUtLt,
forth th,lt the Board found no ,f,iront neoelaity for any ohanv
-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
an
ettini;
tb
two*
St'
.13—
,
!
the petition Weiba dismissed without prejudice to the riAlto of th, 3igners
to file an amended ptitition at a late,7.' date.
On the iime site
lwttcr
A
aont out
to
particii) intr
id Oror.
enolwiing a copy of
On June :Aith, the Bord ro,coivod a letter from a Committee of
bankev4 in Olich the injurious effect ot th,ane
systew,- which was to by atiLrtiid in June
11(t
.
cle_ring
1,03tponed to July
l
15th,- lik,on thc;ir r6latiuno , ith their country correspondents in
17isoon3in i
Michigan.
Thias latter either preceded or followed a visit to Washington of
this Cotta4ttee
conforance 4ith the ConwAtte40 of the Boald on
4th othor
olearinza and, Iti.tc,r,
bera of thi'e Board.
This lettor, among other at:\tement3, deolared that Ance the
leclion of the Board on Wqr 24, 1rJ16, the Twin City linka hal made every
effort to secure the loposit
ocounts pintAalft
.ith the Milwalikee banks
by hAnks in %sconsin ,Lnd Michigan in the Minneapolis Di,ltrict; tht the
?sacral Re4F:xve Bank had sent out notices in llich State Banks wilre in.
vited to join the .:11.rin
settlfwient coulri only b
;vatem, in
hich notices it vas announced that
114L14111 'by iraft4 Upon momberabanke in the T in
Cv,iss; that the very next cy mimber b,41ks of Minnvipolie sent out
irs of solioittion referrinf3 to thi.
lett,
notioc; tht there are a in-
dividual banks and 5 brnch banks (of 3 Stte 1..y,.n1) in MilwAikeo; that
their total dec'tt
e 121 millions, cf Pilich 25 millions is due to
country banks chiefly in W“
,conein and Northern Kichigan;that the brAnkin
torritery of Milwaukee was limited to Wisconsin and Nothern Midhi4;an tr
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
.14 -
the fact that on to sides it was boundel by the Grt LALots 4nd on
the other aidea by the T-An Citi(=;4 "La Chioa3 relpeotively; timt all
.
0
parties biive
h ,t the Org%nization Committee .
aould place thin tl ri-
tory in the Chico Diatriot 4horc it logioally blond; th t the TAn
City memusr b-nks were working hand in hi.ma with the Minne:,pclis 11-J;erve
B.nk to deprive Miiwaukeo
it Chie.o of buaine341oioJ..Ly
nd it.er-
ly belonjinz to the latter, th,ct IlaeonNin State banks Aould jcin th
Telera Re,)ervo Byatem if they oouli r&wit iu dr1t4 ul:on t' eir Mil4aukee
oorreeponiont3s
The letter finally a,aked th.1,t to further the ;Mack
rirg aTitem
the lue,Ation cr reiii. triating be coned or that the Minneapolis Ra:serve
l
,
Bank be inqtructed to :l000pt Mil vAukee exciliAnze froli. both Nittion41
,
and Stte Ivi.nka in th, ir Ai3trict.
l
About the
3-.M9
time, Corn St.tfforki,
WiaconaiLl 04114d
upo# a meNbcr or Lambcra of the Boari, urgently advooting'
reol;ening
of the Nhole ;patt$:Ir of reaiatriating.
From -bout July lot to July 20th the membera conitituting. your
Comrcittee, later upjointed to hurl? the evilenoe JIA the hel.ring on
August 8th, eonsiderl ca.nfu.ily Whether mome nolirioati. n of the
)
trig regulfAtiona caul, not be ievised whinh vouIt
'
,
injury from the lLsJ of the ,,e account,
4a3 mc-41a th,t the bank
rc,vent the
uted
Anon G others, the Hufzeation
oou1,1 ramit to the Minnelpolis Reaerve Bank by
drafts on Ailmk,ukcs sent to the Chio4go Fterve Bank to the credit of
the Minno4po1is Rnarve Bala, on the assumption that the Milwuken
banks nou;d have their oheok
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
acred At the Chica30 FOkiarve Bank by
aaking there the nooeinary
OXOct40
the Chicalo 1vink had rlfunsd to
deposits.
creation of artificial ex
an
that
this, and further oonsiqeratin led
11Q
your Committe to tha lonelusion th.tt
delay, atlitional labor, 3.211
It wle found,
uoh an arrangement would c:Alae
onfucin ani would very likely leal to the
,Ihich would hamper and injure the ne.sw
olea,rinz
Shortly afttr thia, Mr. Wing, ProJident Qf the Batk2-vian National
W4nk of 14'1 Crosse County, wrote to one of ttm k:re3ent Comodttoe atrongly urging that the prooned trinsfer be allowed by the Board.
Then
follored alno conferences with reprepento.ti-v8 in Cowes or in the
this.
Conferences were also held with Governor
Woll on the sane ilubjcot, an
.
on July 21mt (4-0/.rnc)r Woll wrote a member
Senate strongly urr7ir
of ttl.in Committee istAincs conferences he had had with the Committee of
Milwaukee banker
on the subjecit bev;innia,, July ara.
,
,
In this letter,
w.ons other thin3.0, he 3tated that the Milvfaukee bankers felt that
teoponin
stantial
o. the ro1i3trietin.4 que.;tion 71auld enable them to hold subCountry
baLlnoes they are nca threatened with losinFl and that
.
,
he had Iritten then', miaing the question au to remitting in Chica:;c
cxchangs, the Minneapolis Reserve Bank thus oarrying the float one thly,
inJtead of tlo layq :13 would be the oaae if Milwaukee exchan,,:e
,
,
oeptod.
This letter finally oonoluded by enrelaing the olAnicn that,
U any chanle were madu l all of Wisuonsin shou...4 .i be transferred to the
TAnnnulolia dititrict; thi- it voil
4t
oonsin 0ouritie3 anA 45 mettber banks
Chicspap Diatriut to th
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
e bettet to transfer the l
Wiu-
exoludinfs Wilwautee - now in the
MjnLiolio pi,J4klet thi4x1 to tran4fer t) the
•-
.
.tiel tiall 13 Aclir
Chioiwo DiAtriot the 33 11;glon3in oorz
of F3 meakir
in the Minneapolio Ai4triot; .t!vlt 5a. ovt
-
A4i1101 now
ari13
in the territory f3ought to be tr,nufrred
out of the) 146 9tatn
the, 45 memlgr bark
mew bows MilTaukee armount3; that 31 out of
:41d
exoludintz VII Nauknc, now
103 out of the 12v St4to bankn of risoonsin,
in the Chiou Distvint havo aloount
in 1111w4uken; tivIt if a3.1 this
s Dieltri.ot it lculc, be
;
territory . :ore tramofficrred to the MinnPAtpon
MiltTaukee ooul1 be
baqed en Stzitlt lino. that in auoh an event
a 03ea61noy
4
; Ih;A ,uoh
rd porhAu ir. the future 1 branch bank
,
=
ti aaal... 21±q1011
t
(Itnaio
ths Wia.-ornin biktki; atcut_theirohi_e_f
ur3).
OP thn aftsrncon of Jul
Srith, th,:3 mAttex wag teAtln Al, by the
243th,
Boax4, anl on thl norninq; of July
Totion to rawon the 1,v-
territory, leavin
titio1rL 3,u4 transfer cert4io Timconnin
connmot Miohilan 4ith t
lerA by
balano
enou30 to
of the MinneAplia territory, lias
tie vote.
1
ThiA vot,
"141
)
n! No
not on tha rants of tho ca3e, thou3 v.,Iti
orlinal yetitlon
rintinT thol.r vote uron the rti.ot that ^8 the
d
3rift et
rau3t b
IA rfa1
Iskt
nn W flo
penctin
tlf4 11
petition (ma that c;. napti petition
Wore motion by the Boar.
ei
In th.i.% aftor.noQn of the swill day, the luefition va,: consider
13cArd ha-A power to rg.
again anti tilt) cono1u4ion Iran reaoNyd that the
, it had I4oter under the
open tho :Jriainal petition and tat, in fiAot
At to redistriot on it
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
own motion without any petition filed.
and to
It *La then voted unanimou,lly to reopen the petition
s
- 1? order a new h,ssari7v3„
h1cth4114
banka b5Inffnottft
fi‘tc: for August Oth,
1411hivn bart'A;; baing pernaittel tr7; in-
trnt
Aujoiqt 8°44, the heive,ng 1msht1t and your oomniittee vict (Lull
ap;)ointd to heitr the ity1.1.1noen1
1et
th
The lor0.. 0111x of thfl
,
2
meml..er ce he
CowIttge„ attlyliod th:4 11,1Ari,, but
no% tu join in the 00m1.4
nittcte .1e:a.ibTrAticinr)
c r ult .
1044 that he huci
1):•.
.
it,ct
airsmhf;rf
rzanizatior. Coinalt.,
t3).
Your Co rad tc...
tilat lacthLor .r
fully tile ov.1,:lencm trtr &
ld tlot:ari :I
ro-Aft 04re-
43 only a gwaer4.1 ,:*aitam can
. -
be z1vax4. la .
,
14-11,4 nport.
'More Wt1.11.3 prnt at ti-v3 hearing- Senatora
,
Ev.r4ting and Conaref- intm
,
roalette an!
ronop
(the latter by latter),
entin
th
etiti1i41) bankis anrt the
-46
bankers of Mi2c, zukeo; Vr. Lbri,raina.4eni.ing zna 1,utitlordrifs banks
,
anf.,
the 1i144Luicee
3tiver; 1Utiora-.1 brk
Fou.o A.430oiation; tkto cfri:terl of
1i13,:!;3ukse; 7;r1
1
all the
Nation.1.1 bnko irk four countias of the PiinineuL:. of Ur
ail
or 31k ba.nkl, In WisooAsin.
The TcderAl RaA4r70 Baba Qf Mi4ne4polle 1,43 tlpi,
iient64 by 1ta
Governor and by iti 00111i
riloiution, pass.wri
soolutiono rafit rrtwert
1
til
iConisiii 13i.nkiarf,3 As.
,.1 in fLi.vor of this proposed Irz.nafor aik:t it wao
etu,ted. that many nymber3 of the ALs000lation were
prevented from being •
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1;rint ina3mulh as the Banker3 Conventiun gaa still in 3e440n,
but tht they would be ropreaenteA by those in attendance above
tnumeril.trgl.
Mr. Lcmbar,I 3t4tel that membern of the Board had exprow;ed
regret that the Millaukee bankorn diJ not appt4r at the former
hearikt in 1315, aril that Mr. Lindaay waa prosent to speak in beh.lif of the Mi17auke3 bankin.): intereot;i.
Thr40f0 in all nine or ten bankara, rerreuentin
banks in
difforimt pa.rt3 of Wisconsin, who te3tified in favor of granting the
:or trcinsfer, and in adAition four Con4ressmen repraaentin7;
diJtrictJ in Wi3conain all.eared in favor an4 the t4o Senator
It
1
1, /3
from the
reprelentql that 53 out of 61 bank) in thn territory in
queotion were in favor of the transfer; that the hanks in four
ties cf Michiall were autin?: inAependently and were munimou9 in favor of beini: transferred to the Chicago District; that the potiticncr4
/A:pc willinj that Ashland and Iron Counties, embraced in the vriinal
petition, be rota,ined in the MinneaFoliq Diutrict in oraer to avoid
shutting off 41.ohian from the balance of the Minneapolio District;
that in compensation, La Cros;lo, Traq,ealeau and posnibly Buffalo
Counties be tmnsfelrred to the Chico District; that the Milm:iuk=ie
/4tional banks held over 4.5 millions due tc country banks in Tieicon.
sin ant Michi" no
,
41
in the Minneapolis diatriat ani the State bb.nko
of Willtaukec h4ld 5 millicna, makiir: a total of over 9-1/2 million;
that Ilaconsin anl Mj,hj
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
hank u originate very little exchange in
19
. from Mi1'4aukee
Oltica; that tha trend of busine4) is to mxi
the
Chic
Bank
4nd timt the Chicago Ra3erv
hanAle a
ian banko now in the
volume of checks drawn on Wisecn4in anA Micth
thicb lust bu aent to
(Uy3 deferrei crectit ,
Diatriot on
kola livrhavs five
Minneapolis for collection, c)onsuming surely four
days; that if the trritory ia tranoferr
mad* in t40 Auy3, -ti
to Chicago, return a could be
axIt tine of dvferrei credit; that the expense
sari. Michigan ()hacks IR as
of carrying thiA float cn Vorthern TiAocrwin
the normal busine$3 relaurge itom and ,711/ steadily increaao; that
anA Chicago; that thio is
tions of thia to,-ritory lie Iith Mil4aukno.
provan by the fact that 292 of th
Milwaukee fLee( U1t
a
rry
,
36:5 banit:'3 in thi3 -Oratory
amainet only 71 in the Twin Citieo; th:4t of thr,
carry their accounto in Mil204 banking towns in this tlrritory 202
T-iin nWeo; tht the itnme
waukee or Chioao a3 a7„mimt 43 in the
s Reaerve Bank, al .rfortl fro,a
sent for ‘loilection to the Minneapoli
t all originate fro
th4 banks in the tlrnitory sh04, almo4
tcrritciy
Re3erve Bttrat in a
which wide oolleltion throw,ih the Minnoal)oliJ
L.tiom4of 04hkosh analyzeA itu
rouniabout wayl that on, bank., 1111.
out cf 120 itegio ro.lo
acoount at a pa:Aicular roz i. and i'Vuna th;4.t
ceive4 from the Minfloapoli
Rootin-n Bank, 115 oriTinated out of the
Minneapc,lin Di3trict, ccrIno to UinnacoliP) from Chiea.go anl
t.Louia;
,
that this routinj; caused a ?delay of t,.;c, Jaya; that only five out of
120 iteNs vero i2dor4. dillt(Aly t
t
Linntaapoli
Northern Wieomair, 1:1#AJi; thIt railroad connecticn1
-I
Rr;kg. rv6 Bwik by.
:Tost direct
to Milwuukve and Chicarjo and much quicker; that mail faollititob are
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
- 20 shou;d he lerc3itd 4hara thQ 11.0,t1 ;".1":114
that Aii;reTarti of trAde warrants 'iii „iat
blnAzin6 progrci;
thilt tha pt:tition
ncit a 'di
141.
ban kt1 in the tarritJry in Auaation; that in the
ma3ority
f t
AA,:vc.14i4tit buz th
fe51in
of
lonI run banking buriino3a 4111 go -#013nt the raaarva3
ar.l; that the
0,4nks, or
on
uf them, 0..o.linG the transrar to 3o
ctottus‘), tioy
elt
hi !her rat13 on "ram lospns in kinm3ot3, lorth ,Ind Sout
h %iota and
*Infant* than they eouli pot in the ChicAgo District;
that the Orzanization Commi'itee waJ lanJouty ilvfluenJud in 1t3 leoi
4ivn by tht
neue4uity for 1.
,ruvitiins
minimum oupiLl of four 1141:Lion,i for the
Minnaapo1i4 1141,74- Raw.; thz,t aino
thc'n thv Atternty Giier.cf the
Unita States hti..d advised the Board tht in roUiJtriol,in
'uhe rout
iiiorminiatim noeJ not La conoitAaroU; tnv.t in Ltny even
t, the eapital
,
row4iLin s uver, if at Michii;an tcrritcr:i were tranforre,
,
would bo
in exoe,t:i cf four millioLe.
Thy FtJierai 1e.31:ve T1nk, bY it
,
octim'el, in argvment,
that a ni i etiticn oouii have been cili.a; That t4e clai
ma in the
pfeJellt i,r000e1in6 i2vre soLialh,‘t liMirent aGt
firat peition; th
richi
oijion of the BoLza la
A
•;ItT1
territc.ry from thz
tA4.n. .3 0411 not interve,ne if '.he 7ortv
4
.'r de-
judioiul
th4Lthrrol,osod trun:!?-:r
Joulk impair the earnin,1: por:r of Vic MinnaJ4p
o1i, Ban.c; that it 4aa
unwi4e LQ inorase the a*aets
or
thri Chi34F;-: Mtiorvc.
th,d; th?
purywJe of 41 - At w43 tu Ucentralize
hu-nkin; r.»crv,
:!t3; th'/A no 3eriOlid inovnwInionue
lo!en ancwn up to thm present time;
that the matter
3hou14 be deltyed until the
clearin- ayetem is Pler ruliy developed'
:
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
- 21 tht the Minneapolis Ilcaervl nank ia now
of ..oaning anci boxro'ging
.
halanceJ, conaixting
;
4 hat 1,x1 .1 r.ct
4
tition; territozy ha;t.. no right to be herd by thrl Bord; 'that thu
only 1A4rtieu intnrte,'! wave the be‘nks in tht! rctitioning trritery;
.
tht th
itb1c j not intcreltc; that thti petition 6hould he
mi3sed.
Gove:nor 7c- ld tUsc Jpolte in bchlf of the lanncapolil Re3rvv;
Bank, statir.7, ;;.:rong
thin;, that the bankers protent
bast:1 on tho rul!; or ti.Fwieral n'eservo Dank rcquivin
exchange ir a4ttIement; th;At th
'Twin City
tUi hai temn. chang6d so that no!,
tiettlument oan be madlt in. Uilyiauket Gr Ohioc. sxcAange valzi that
thia ma all Milwaukee haA contenda for; that it does not neceuoarily follow th4t because thcir roAerve4 are in Minriar.o1ii thotj
conain banka will open accounts there 4ith T'qin City banke; that the
Wisconsin bank.s are no4 sending items direct to Chicago Re3nrve Bank;
that thri t. no difflrence Whether these items are lent 14 the. Minneapolio Reaerve Bank or to Chicaco; if aent to Chico it :1;ets ther:3
rvIt .4ty an
-
!„Neta out; Chioa.c take,4 it on t, I.Ly3 deferred credit;
;()
if dent iireot to Minneapolil Rcrve Bank it ,
IonlA be taken on
le e,..ts two aayes deferred ore lit; th,i,t it is not true that there
would be 1 3ay3 difference) in favor,of Chici.u.i
:
;0, al Chicc--c ioe3 not
send out itors rIcoiveci after certain timft ir th fsta.y.
,
In
n';:r to a lunation of novorncr
J
(1, vrncr !old ciaia
hia bank w::s.t) neN tAkinF; ()hooka on WilAukee ani ChicaiN at jar for
immeaiate oredit, absorbin
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
the rloat.
Governor 11-:x1ing then hvL'!a tlhcther this 44,s an economical
-rrmn:1-ment looked at frnm tha ixint a vic;w of th
nether it 40u1d not bi4 bIttar
whoM 3yetex, and
tx4Anorer these banko to Ckic.
,
,go 41403
they n4turaIly balon;.
Governor 17 )11 replie
4
vo1u31 of ;wall
,
th,:i.t it
Oh.t0k4I,136r1r,
in
fi no aifairenJc:, that if the
ruotiorz
remit to credit. of Minneawdliq In Ohioago.
on bo given Chite cp to
Gvornor Wold also said
that cne rbar ago t onn-tkira of )" 1, redinoovnt4 Mr
,
banit, but that today th"r
of ' 1,-?
-j
tiNnk
on
:in
Lone owing to tile concerteA effort
sblch orfr*fi rate
Rsocrve Bank.
of tile in t;andin
rtr
from Wisconsin b
am low aa .
i,110»)e of the
He farthor Unied tht thvre
any lows
Wiactonsin ohecko to Minneapolil, a3 banking ia done
o/ornigrit
In reply to a queJtion from a member of the Doae, Covarlir
Vold ed th6 airaular
par
W41
tIt MilAqs.ukce. and Chicago exohange at
Ilted July 26th anti. that he
not imre 4hether the B04rA was
advid ;Li7 thiu eiraular, that it 4houli have rPcniveJ It.
Mr. Lonlbard aoked ,
:flithr July 26th %V40 not the date
Ocomrnor Wold reanive4th. toloram frcm the Ward rooiAning the 1-,etitton and Governor Wc,ld replieJ that the teleram war, reCei
ved July
27th.
(11, 0 86 of Recora).
In thio avnneation it Jo interviatin
1%14 *dzitti to Oovernor Hardin
to note that later Gz- vorilor
;
that thin oircular
antedattei.
novernor %1(i, alao stated that he had written nome of
thn banks,which au,id thay had lav.4er 1epo3itu in Milvgaule
,
than in Chioago and
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NMI it would 'to morn 4onvenient to °hook on Milwaukee than on
Chic:4900
$2:41Ain
ne -i; circular.
As a, mattel- cr fz.ct 'cur CNtimittee would joint out that this
oiroulur laa new'r vent to the Poarl, until Govrncr 7old
it at t
tucc
haAring.
At thi
point
it wa4 Tioc•ayt
3ervo Banl:
immber
f thn petiticatin6 delcfp-tion said th.t
Leep larr:er rAnrvea with the Minnpolio Rethe!' biø inthat, bat tLi:z; %v43 deniod
by Govornor Wo14.
Govcrtcr Wold added that if MilNaukee ha3 money aot Imlonging
to her, tkan cut cr normal channelflo
thetr:fc. : ht
;
vitot..;
of interct, thus rtting buoine3A belonin;; to sow other territ
ory
ahe will lo ie it aa the. Federal Pearva Act
ii
tut it
belongs; thtt he did not rean to imply that Miiwiln4.ne by
here it
iVij high
intertata ro,te3 ;ma pyttinz money to Iiihich it 1114 nct entitl
,
ed; tht
there will be a re4djwAment under tho
intenied to
di,tral illaervl Act and it is
io *D; that it Nonld be absurd tc trkde k5h1nci and Irc,n
Ccuntie:) for Buffalo, Trempeuleau anci L. Croe,se Cowntlea,
every
bank in theoe countiea oppo3a3 the tramstor.
In thiq connef,tion your Ccmmittee would 1..0int
recorl, pae 125, there i3 a telesTam from
National Bank cf La Crose, as followo:.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
t that in the
Win, of the Buta.vian
Le. Crosse, Wiuoonsin,
July 17, 1916.
Th lainkers in LrA. Crosse County, ,11 but one in Trompeleaul
and majority in Buffalo, %ant 10 go into Sevnth District.
Mr. Dickinson i11 .4gree to whatever ia for beat intereuto of
La Croaoe bankur.
Am wiring Mr. 11raing as above.
Letter
follows.
E. M. Wing.
Your Comwittes deas it wise,
.ti thia point, to give aome special
eomideration to thc; technicl cl,Ams in the brief filed by FederiA. Resetve Ant Rich Liuboo,iucknt to the hearing of August 8# 1916.
These
claims, in eubutanoe, made in thio brief arc
(1)
That the Foder41 Courts ntime pour,
unaer U.S.Reviaed
Statutes Section 71e zoti Suction 462 of tile Judiciary Act, - to Review
%tom certiorari tht rudi4itrictina decisions of the Feral Rc,;erve Board.
() That the Board, thforTe, mast s.ct in a judicial, manner, although the brief c4mit
(3)
that tn
Bcrt is an Aaministrutive Board.
That the Board is bound by its rules of procedure promulp,td
August 210 1914, both o.s hearings c,nd rehcringe.
(4)
That the Michigan tanker
can int6rvene only in suppoxtof dr
in oppoultion to the original petition Aid cannot, therefor, rE.ise the
quetion of th,= proposed tvalafer of ;Any part of the peninsula of Michigan.
Th6ae olLAms may well be conaidered together.
They practicialy
amount to 6. olim tht tnt Federta Reserve Board is a Court of Record,
bound to consider ana rieigh evidence preciented, aocorzing to the usue.1
ruie4 of evidcnoc in oourta of luv, a
,
of pleading.
ubjeot to th
technic 1 rules
Only in thin way could, a recori be mkide won v,hich the
record could be reviewed by E4 higher court.
Nob a claim loaeo sight of the fact that the Federal Reuerve
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,
.soarci
oozit
oiexportt; and th,A, any decision rendered m4y bt; the rem
t as much oi perwonal knowledge of thc Bo rd uL, upon
ay evidence
oh mignt be takeni ‘%hile the Bord is Liven quasi jug/Joie.' powers'
it eL fiat all the rtLoto upon INhieh its ceoluionL, rut unhLALperc,d by
,
.n
jn y technic:- 1 rulea of legal plcviing or evidence.
Thia vias clearly so aa to the OrzunizL.tion ComaAttee, vhich
ao
mpowered to summon 11%itnou6;eu but wat; not obliged to ao Bei en the other
hand the Fedr,4l R.:.4erve Board le Ely.= no expre4;c, power under the Act
to suazon v,itliet.mueu at Lll.
reloonubly :army thyt either the Orgamizortion Commit-
It would seen,•
tee or the Fwderal Reberve BofIrd, m.ipeotively, could halt:: oricinu,;.ly
districted cr lat, r redistricted without giving any heLring vimtsoever
4
to any paridos, atia, huvinc this ,,.over, it on civt• 1erirL.,nJ dcoid.e
que.;tionu upon the meritu, A.thout bcing bound by c.ny le&a tLchnicLaitied, ouch au are raid in the reiipondente brief.
,
It ia intsrcsIinz; to note here th- conethat strtlin:;
attitude on thc; part or the rei;ponaent bank.
ti:a16e of
At the first hsi.hg in
May o lt3L'), the petitioninL bunks raiaed the technical question thiA the
R66orv6 Bourd we Oo
tl.Lit to J.eeir.) the queetion upon the rtleord be-
fore the Oriklnization ComtLittee afla that, au then; ';Jau not
.crap of
eviuence in idlt rcaoni Loiorinc the inclu:iion of thLI territcry in the
Minnepolis Diutrict, th
Boar,i, it claimed, ac m4tts. of law. Wall bound
to overruiJ the decision of the Orcanization Committe
and to trnslar
this territory to tc Chi-jag° District in acoordk!.nee 7,ith the uncontr&.
dieted tutialony.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(Record, p.6,1Z,13.)
•:•001
ft
r-
26
The Minm,kpolis Reserve &alit, however, vigorously,00ntroverted
thib argument.
(1)
For example:
Counuel in argument cicdmed that under Section 2 of the Act
the BoL-rd ia to be governed by experience and not by cl review of the d.ciai(,n of the Organization Comluittee.
(:-.0
(Rea() d a P. 0
That while a court on only aucert-An foti, from evince
,
and 0L4n not Lot on it
ovin know
e, or 00,..in inCormaticn in it
ern
way, the Organization Comudttee, under tho Act, ok.n do this -na
dirut6a, by the Act to ao it.
(3)
.!
Thut the Organization Comwittee is merely empoper, , and not
directeu to take teutioony.
(4)
(Recora, P. 4)
(Record, p.4)
That the Orpnik.laion CoAttee tiu.d ;cber to diutrict vaith-
out taking -ny teutimony.
(Reccr, p, 4)
es retAed in the good judE.
(5) That the determination of boundari
ment of th, OrglAliz4.tion ComJ,ittee.
(0
(Record, P. 4)
That tne Fed‘ral Reserve Board can rely uf.on it
own jug..
Organization Sommittee.
merit .Liaci la not bound by teotimony token by the
(Record, p. 5)
It would ueem clee,r to
our Committee that the Boari hu,u ample
case free frcL-.tinaceesity,power to rcnder juutice on the gierits of the
admittedly inowbent ui.on a court of rf)cord, - to 2;ive regard to legal
technicalities
z4 nioeities of 11 pleading.
11,1d Q.42le
It would alo seem ole-4.r th‘A the Minneapolic Rtrve ILInx
notice of every *14im advanced by .L.ny of the petitioner.
any doubt uoon thL point, a reatling of Governor Woldid 1,
to the Board, - abu
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
If there tic,:re
tk.r of July 21st
f,ith the petitioning
that he wc,u in conference .
27
ro
-
rtiec, including tho Wisconsin bankif.rk, fro
the de,te of the final hearing, - iill
(7) Tha no one loia
July 3ra to Auguot 8th,
umevt.' any doubt La, to thie.
entiticd to W heard w,on the queotion of
rnz.1.
.L'er except the btqlkv in the territory involved.
AkL to thie, it would eeem oufficient to atzte thtlt the public, including
4ceiaion
1.1 bankcru in any ray affected, it) to much intered in thv
th
bt,nkk: in the terrttory.
Vac) Fvduxi.L1 11ervtz Bonrd
from tho b=4 aspect cf t1.1
bound to consider jitione prented
whole Federol Reervki oyutLm,
in frlt,
.
Bc;.:a d ha: oratred notice Oven to the Feder-a Woerve
in eviary oao,
territory in aAed to t)
Bank to
trnLiferrea as well
to the Reoexvo BJnk in villich the territry iL Hitup.tcid.
Fuxhermorio, if tire wore anydoubt, thc letter cf Governor Wold of
July A., 1016, i.bove vfcrred to, gugzeatin& that t.11 of Wiuconin be
trane“rxed to the Minneapolit Divtriot, in caw; any ch4ngc ia ordered
by thu 1301;zcl, woula cluurly give the Mu
u1
bunkero the richt to inter-
vene a,nd be heard.
FuJilmos-, it
ii1 be rntsestlered tbat the counsel for tho Reerve
Bank arguou thi.C;• the Member banks
wilt wu.a J:er t1u
.
th! tc:rritory involvld knew bent
tort of th3 Ditriot
tht'A he could not wIce that
puclio 1444i any inter.ult in th3 mutter, 'mhereuion the Comptroller of
the Carreacy r
iuict him thiAt 53 out of the 51 b::.nka in the!, territory
v
involved huci votcdcr and 4trongly uri a that txi. trnefer be lu.dc.
(Rf.;cord, paii
.;;s 73, 74)
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(8) Thu% the proceeaines Wfore the Board rere inconsistent with
2.0
hodb eatployed by juaiciiAJ. or 4tic,1.1 judicit14 inquiries, - mintioning
r tioularly inquirieo before tho Intereti,t
in that, among other thin, Congrmen
Com:Lerot ComalLieion, Benatora y.ere permitted to
te utify at the hering; the.t to unction euoil
pr_e%ice would be
wili ot;tbilish u precedent so that dc,legatione from Con-
perniciouk;
rebi- may at any tima importune the Bourci for L;o4uikaticn of territory
n uttc:r dibreg,rd or tho Boc.ratis rule
to become th
rt:guliAionei that if L:uch
ethod oi the Bot..rd the Fecierl Reuerve Sylitt;m Lill
auifer a bet-baok hard to retrieve; th,tt the aspect given to the adALL Stora and Congrc.uovocoy umployed (meaning the appeurtknce ef cl,
men) makeL the aeciaion of the Bo rd a matter of National oonoern.
This ia the firbt time the right of Senators ana 0°140'001a:en to
appeti.r before the Foklerf41 RJ trve Borct in at:Atera of generul public
tht: trona of comor06 and of tvzit., hr41L been put
intarabt,
in ic.4ue,
Your Comiittue atitimc:u that thG Minnealpolie Reiierve }Ink ctoe:J nut
intend to ulwrcetht (rtiban politic41 influence proupted thee reprebentt-tives of the prio10 of WiaoontAhn to ,4,pour before the Board.
The
politiottl oompoitiou of the aologation v:hich appeared., - roux. RL:publimtns and three Demoor4tu,- would olearly in advance negIJAve
oharge
Furthermore, the ontlemun confined themolvee to tcztiuony au
to the gencrza coup-Au of buainek,ii in the territory involved and their
teu,timony
AUU
unaniwous tht thia eoure mu Worth in
to Milwaukee ?Aai Cnioo,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
nd not Elwt
South, trom
and
nd W,et from tind to Minneapolis,
- 29 es
t:or
When further it to conk.idered that the to Senators repruentu6.thL
whole StL.t!:: -n- tn-t tal.; LiVt; Congreemen rt,pree.ente.1
copultiou
Over one miiiicn of peol.le, in 35 countieo, every county in the territory involved in Ahioh the enku vot(;a, except to, and that theue tvio
tNere unualimous in favor of the transfer, it „1.,1 be mamifout th;A their
eviuenoe ,ihou1.6. 06 entitled to greLA v,aight uu to the uuu4l ooure of
buwineuw.
The reftrenoeu of the Reuervu Bank to procedure befor:. the Inter,
stete Comv,erot: ComiAubion muy also require i)sing mention.
In -,uiry
Of the Commiacion uhoraw that Nhile it haa inutituted Rulee of Prooeaure,
yet IAD intent is to *scours subatuntial juotice without adherence to
fixed rule
either of procedure or cf eviuence.
A
a f4ct, Seoticn 17
of the Inter:It:As Cowerce Act specifically authorizes the Commieuion
to conduct Ito proceedings iu ftuch murmur us will beut conuee to the
proper dispatch of buoineus Lala to the uncW cf luetice.1
Upon application for rehenring, Section 16-A of the Statute 5pecifio,
.;0
ally provia. tht th
Cowmiudion shall not only conalier itu origin,;
-1
orr but Ito well all fucta ariuing aince thc former tie,ring.
Furthermore, while Section 16-A proviaew t14..t the proceedingu
at
the rvheclrinE oh411 conform a
rly tt.0 may be to the proceedinu in an
origin4.1 he.uring, opecifio pover iu veated in tho ComadLision to
direct
otherAiue if it uo aewirea.
;
To deny that the Int‘ rutt4 Comalerce Oommiasicn Aould have power
to reopen a cube, under ciroumatEinceu siwilar to those now unaer considert,..tion before the Board, tould be to deny to the Commisaien
poT:er
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(4c
0
a. 30 m.
to oonauct it
proceedingu in &mob munner
fciVJi.J. be4:%, coriduce to the
iapi.vtoh of buoine u Lma to 1.11e endu of juticc,'
tifioct thi.t the Pi!derr..1 Rt.erve Boe.rd.
Your Citt-u la
mple poor to reopen thiu votition 'rx: to permit nevr pu'tit
en('
na tht.A to ruire
ncw Attition to be filed,
to inter.
inNolviLs
46
,Liray properly ritiLea t1-
lubor and expunue, when the 1.2r tick,
principal queution in thu oricin4.1 petition, ,4111 when eai paxties havo
aville notice not only
Au' eLit&&
ticna,
to tno origiaL.1 p‘;titic,n, tut
rin41 out oi new contlitiona ouch op.:, thtd
—tint; rugu1a.
.6oul4 be to obbcure jutice in technioulities,
C.mmioaton nor Bc..lra woul:„;. ulun to
Furtherwore, u‘p tA2i
wotion Aitilout
to 4.11
rg;
o.
Bourd nttu .porler to reaiutrict of it.
ny ne,rine or notice, it ciearly
own
it ilaa
pcv.er Lo reont.,114 brott,den the 14001.4 of the i;rent petitLIn upor, duo
notice to 4.411 purtlea.
Ao to th6 objection of ti,k, Minnec.ipolig
Congreeweu were
ROrVec Elha
that Eliutorro
a
lloved to i,ppettr r;41- tt;aAify, tith the intimation
thi.t ouch procedure wau contrc47 to the Frocedents of th
Commerce Coiusion,
6
t1, othcr (4uvai-ju4iciul bcc4ec, it ike oh.t4
luiry of the suid Commiuuicn U
nuceeoary to k.Utte tha..t in,
oo Lx
thc f:r ctictt of tht ComAlor. it conceravd,
Congrabara.n on
t
Q1athLt,
Sc:riLtor or
ny ho,rinnd aiocuaa the 4eritJ of
from i-aly f.oint of view, imbethr
pupil() intr,.—t or u purely priv.t
c,.ae invove
ttr,
cmwz,
1 i.iutter of i;onari....1
raLW.tisb-r:, of Con-
greau have in fact uo appeared und alsoubbed the meritb of oa4it:‘, al
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
thouLn ieuch
1 1):..-rz4noe ve very infrk.quant.
It v4l.s furthc,r ot tc.c. that
the 4.ppeo.rL.ns.;(1 cot & Mombyr of Congreac rd4tkJc,jiti
iith thv
of Congress anel not with the Cowilitivion.
In thio Qomte,otiun, it 16 n4rdly neoc.-'-et,i-ry to point out tlAiA
Senbut rb e.na Congro4umen Lictvc froxtiLt.
to Uric
tiAt,
Boe-rd, notv.bly in the 1.4tiiotiug 4:4,0QJ of Oklb,Low;., abiu Cow,yotiout,
without objection,
ler=ut from ,:ny of thy iAirticf0 lutortitoia.
CONCLUSION AND RECOLUENDATION
ealeuvored tv give 4.11 aootri.ot of tirmi testi-
Your ComiAtteu
mony preoGnu;a in thin
C;;Iki; bo
ab to ohor, f-iriy 614 ocatyntione o1
the re4reotive piArtiee.
On thi; civic:Le:rice p1ntc..1, your CompAttes
(1)
fol.Lowe:
Tiw tJstimony before tilti OrwAniz,Alon Comi.ittc; ‘,11.1 also
that t:Alcun bt.,:fora the Bo,krd iit it
tvto halxinga s i
ticUyaub-
L;tantlAily unoontrudiotd bht thta normal, ouatomury couxze of Lui;:1/10a
t.rritory involved is South and North to ‘,111 frow Milwuukce &414-1
iu ti
Chio4o.
?hut Milwaulwe id tile iiuoi:.,1 ,AnUu.inu4 cntei:
11400n5iiifld
(3)
tho chif
();: thi6 torritury.
Rc.4tprvi4
Th,l.t if no quoetion of o,Lpit441
104nm-4,2011a hull been involved, the mAndato of the 1(1.4, fil-zotiQn
Act, *ould, in the opinion of your Comzitti,s,
aticn Committee to ploe at leaLt the
U4Vb
oi
of tiz
raquircuOrganiz-
4.ter pr t of thk. t6rritory it
volved in the petition, iLoluaing Miloaukeo s in the Ctiougo Dicatrict.
(4)
Ttlzt the Organization Coml.ittc:e wo.$; justified in plecing this
territory in the Minneapolis District in vL
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
oi ttneosLuity for
•
Oulo uring 4 winimum oo.pitz,lia4tion of four m111146 of dol,Larf.i for the
Min
rik,k;erv(; flAnk.
(,))
That this neoetisity, before mentionea, no longer ex13te, in
I,he opinion of thu Attorwy Otaler.1 rtinderi;a April 15, 1916, 3nct
vi
th,Jt the 1U*4tiOU i
to be comidersd by thu BoLrJ on it
t4iort,o. oy any suoh liwitation, c_mi, in
f Stfoticn 2 of thQ Lot that nTh
cooraanot
mfltit, un-
ith tt
r.i,
.uirement
bu rt portioned -Aith
iotriots
uus_ro3Lcd to the convenience „Lmi ouutomry coun.e of busintio
(6)
Thttt from time immemorikd, the bucJinei6 of this territory
,
h4s ooveriWi ui,on Milviukse ;,kna Chicagoi that tht in Lorne out by the
f4lot that W)0 out of 2.$4 rerltet. from the 24e bunko, Nation41 s.nd Stb.te,
in this trritory, etuca tho.t the trend of business re.a towards kiiwsukee
anU enioueo; thut thu bulk of the exchnge crated crigint;.tts in busi.
huen sLid turritory
nese tvinstIctions bst,
railroad, mRii
nd telegrttph ftOiiititi
nd Milwietuicee, and thGt the
on th
holc, MCf6 f4vor-
Ipolilip.
able to Mil ,Alict:s hna Chicao thin to Minfle,
(7)
4
That u itvegt major:L- of the Natieml banks in the terri.
tory in tueution,
approximut+Uy &3 out
f 6l, t‘rt in favor of arld urg713
,ettlo to 1)0 com.istnt
the transfer una that their tAtituas at
itki int..
of the publio in this torritcry.
(8)
That
hile tha Fsder41 Reserve Bi.,nk of Minnepoliu
,
ing and alau to care for the intorskits of tik. umber bt,nks in
tory, the necessity for depooiting cz.pitL1 t.na rubervt;;,:, in Minr,Q,polis
i
ttAlec theLc dc:1- ceitr actly from the usual tint ordim_ry coor(% cf tri4de
ana will probbly neceasit.,te account, to tx; estubliohaa -cith the banks
-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
t
dh 33
tf,•
ser,
Of the Twin Cities, if for no otht4r r.on, to maintuin restrvt
. b-Lnoes
nd oare for demands 04.1A41(44. by circuitioue routing of ohecke rather
thin
by legitimL:tt; butAntu demundx, to ti. injury of the cout,erolii,1
and
Othiinos
int-tu a t;rie State.
(0)
That viiQ
thre.,tenca injury causeu by thc clar4Loc
reultItion accepting only T. Nin City exchange in settlwilent hEA.
,
towporarily Averted by tn
kx
bun
new regulaticn, - published vcithout thf.;
cr L;on:nt ci tile Board,.
acoppting CSicago zingi Milwaukee
excLa4lvt
doubt
r;'or iwaloaiate credit, your ComAttee entertAat
az to the expediency of
a.tworpwn ci
uch
may tot4I, In
-uc'h
1‘111
course, involving
it doe
the
n maount of riot by the Minnee.polis Rerve Bank as
„,
t
igge6 tt.,
-
4
very Considerable sum, and we greatly
otioA ai.k. bt tound impracticable
that it will
uitim&tely have to be 1%woizaw.cd.
(1)) That tht';
oriLLsc but,inci of the banks in this territory
conild't4 IL-rviy a Qh‘oke urawn on Iiiiwuke
*Mc&
L4 Cnicuco; thL4 Nlould
.
clely to be aewonstvItea by the evidence to the effect that
out
of iaa Wonkii in the territory in que4ition, 292 oarry accounta in
Milivukeo or Chicago, ;..J1 a.gc, inat only 71 in the Twin Cities, thile out
of .Cit bonlAna tons in tiit.territory, 202 carry accounts in
Milwauke
of Chicago aa agAn,Jt only 46 in the Thin Cities (Kasten, FIcord
p.14,15);
oleo L:y the teatiocny of Mr. Linasay that Uilwaukee bk.nke,
Bottom,” und
State, h‘41t1 county b‘,11ances due to banks in 1114coniAn and Norther
Bichigun oi over
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
millions a 4lollare..
(11;:cord T,.10,11); also by
W.".*
0
the ivi4ter cf G,:.wcrnor Wold, above referrt„d to, dated July 21, 1913,
cfbr thing, that in the territory
homing, uor
furred,
out to be trno-
N4,tion41 Lnd State, 185 hi.ive Milukee zxcounts,
it cr .;29
6.nd thLt of the tot1
O4bzi.nks, Nalional i..nd State, In Wiacon.,in, ex.
eluding those in Northwei:t Wibconsin and Itilukes, 320 1lYvt Milwaukee
aoecunte; caso 14y the fz-‘ct that in the Dirctory for J:Lly, 1916, the
a
b:...nks in WL;oorroin reported z,mong their prino4pL.1 correepon, ents 669
btaiku in Chlao, E)73 banks in Milwituke
ild 106 be.nks only in the Twin
Cities, thoa,a rrtinc tte j.ttcr being, aLi to the greter number,
loozItc in tht Northwovtern pz,rt oi tue Sta.te, not afectoLi by the pro,a
poi.ed tr.nider; 41sO by the fct tilt our 4;tatitic41 divitA.on
una.* ik4.tiA
or
rZportes
Auzubt 2, 1'316, tht tiio NzJiiom.1 1,'nks in NcithweiAern
Insconk„in bud only
Nt,tioula bnkFa l
tno,cco
ihi10 tb
ciepo,lited in the Milwukee
Chic-Ago
Ntion.1 b442kol in the torritc,ry propossd for
tr4Insfer hkld 5.4 LiLlionfi io deposited; /4L;o by th,£ct, aa uhcwn in
ptitinex%) urief, pace 87, that leftort) received from lik,tiont,a banks
In forty ciUba in tne petitionini; distriot, representing
counties
soLILt-::red vver tht: territory, :J./lowed th:A during thc firLA six months
2ivea
or 1916 th6y rc0,
pproximLLtoly 760,000 item
on ChicL.20 ,J14 talwaukee
.
gint 19,:T00 on Minneapolis, or 34 to 1; vhilLt
zrtiount
of th
,
items on Chioaso eend Milwaukee w4.414 93 millions as :3,& inst :8
on Minneapolis, or 43 to 1.
(11)
ThLt th
tramifar of
territory
uti.i
1C1/Q
the
opital (if the Minno4po1ibi nuera Ftkrve B;Alk in exots of four wiiiicro
of dollb.rs,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ni %le Lelieve th,z.t this ;mount, with the oorresfmnding
v.
,
,
t,
resorve depositu, will b.
mple to e=ble the 11,.a to
C.%..te
th
ni:eds of itki district.
(10 Th4t the trnsfer of the i.
.;roossci trri4ory, or
part thereof, my tc., nd to rtAmovt:
, in lAitrt at Itt, tht. objections of
the St6te bi,aa towarac entcrine the
Feder:
-1 Reserve Syst6m.
(1-).0n the question rsAsed •
to the tri.nfer ci four counties
in tho
cf Mihin, hilv. the te‘iti
mony Ot;'OMA to show tht
business tolds tow4.rds Miaw4u
kee iald Chicago i%-ther thcm toirds
Minneapolit), ydt your CmiLittee
feels tA.t u mre oLi.reful ua tho
reugh invs:Jtie,Aion tut be awde, esp
ecially in view of the fL•:.ct that
mjority
of the tJnks in the Peninsula wer
e nct repronted at tile
that nothing but tht olel,rest nsc
eseity,
fter Distercfui im4uiry,
would whrrnt the tiplitting
up of this territory; it should furthc
r L.6
noted timt while the, 31 NtAlom.1
1.,riks in this territory Ithve oniy
nezlisible deposits in the Twin
Cities (1167,000), and 1 rge deposi
ts
In Chlosec nnd Milwaukee ($1,864,n
oc), they Alve evan LIrger depoit
s,
in Clevi,,nd, Dotrolt, Nim York afl
Boston.
MI*
This would
seem to inaionte that the-. territ
ory, on tho quustion of redie.tic
ting,
should bo tr4t1ted tub
.rld in the 4.bsz:nce of tc:sti4ony,
shr,wing
such EL difference in the busineau ofi
ho bni
in the four
ounties
petitionikr, from that of thc bralks in
the remaing part o
ould warrant
ProPoui treasfer.
01
pittin
u
th
territory
the territory, vle cemnot r00
0mend the
Your Cosi..ittes, thereore, reoo
snas tutxt no uction
be t-ken as to theg4u four Mi..hic;-n
oountiest,
(14)
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Your go. 1,,uitts rd,Alizos tha
1
t in thee cases
f rucAstricting
36
It
,10
i,pc,41 16 to draw a alusaip ana ditstinct line itnti 1.11
ii
kor i
o doolaion whioh, on tho wholc,
juibtir,:z 1.4 0.cuorno
ii.11 that OM
.
*.tibotantiL.1
with the letter and the cpirit :fjj Aot.
'nth
that tho territory ino1udo..1 in tint ccAinties
.
,
thik; 011 1 in view we v;oowend
Marathon, Langladn, Ooomo,
of Morro, 4Lxon, Clurk,
Uarinotto,
tho Minnempolia Diutrict tt
,
and ull otht r oountieu now in
to t2.
tif be tr reforroa from the Minnecolie
Moro
annuxud hwroto memoranAmo
Dit.triot.
our Sta-ti»Aloca Divi.Aon
givirg inii.orrLz-tion klu to the qubztionn ivc1v,
ini; ta ulloot on tL
Ci&ijt
iLouth
na A oo.LputiAtion ah0A-
Minnoapolia Bank of the tranafer rcoosLonaed; Lau°
,upoIls
an inhIoraii4A odin!.on oi couni1 L1rot the o1z444 of the Miluit
,
Tod4ria Ri.k.04rve 11411( that rediatrioting daci!:1(moGf t
Board ay.:
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ro4iuri. Reser,*
,
ubjoot 1,0 rk-view by tho opurta upon oc rtiorri ;74:0ottaingu e
Reupeotfuliy
uomitted,
•• •
Committea.
FLDEL R
Ww—Linton
Ootobr i, 191.
Memoramium for Ur.
I twit; tilt honor to pre,,LInt
curtain
ttiotic.
r‘iooQzenaed tr ni.„.6r cf
data in oonneotion
banks from tilt: 9th to the 7th District*
The tr,.nufer from the 9th to tht 7th Di6triot of the
5Z IL,tionk..i bunko wi.L.1 ro6ult in a dwor.,,e of the
oupit'il of the Minneupolis Fe1erL.1 ROtitIfVe Bunk by $239,30,
while the melaber bi,nk ctep0,4its of ttit Feaer4 Reserve B4ink wiil
deoro4ide by #1,J00,700.
,
rc b.1 ul:on aata oont_inod in
Tiroe coxput:..tionu
reports of tio: kwikw in i itoi,tiou to tho Comptrolir
nrL,,Ite of
June 30, 1916.
Tbt totLa
Reserve Ekink on Jun
opit.i.
30, 1916, us rr,portd to the Feaer.1 Re-
serve Board, wt4.3 $,574,6b0.
trinafer
the Minne:4olis Fouor.;1
The uccre,L;e rc.oulting from the
f tlu 5Z liti6ni.0 b.as ;:twountz thus to
of tht. bunk
than
oapit1.
The 4ggreiplte mewber bc,nk depo.Lto of e_tie
Federal Fluorve bank on Juni/ 30,1916, us rcpertd to tnc, Feder I
Reserve Boc.rd, were $19,378,659.
depozits as th
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
The leorese in member bank
ru.Lt oi thL recomtlended tr,nzfer -iiL thus
e
mber Lukk derouita of th
7% of tiA-; totaa me
,a
.
44 ,ount to lug thun
u,
nk of kinnoupoli
nuarz,1 11rvei B4
on June
thG 5i4 National b:J1ke
Not ,...v.ounta ,iue to
toLow the Eolloting diatri
roveci Rek:erve Anti
liJ16, from cp
oution:
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-a Ri:Liervo
Due nwt A:rom A provt4
Agent in -
Per Cvnt
.. —.4;4,8991036.13
bc.).3
1,994,51.bki
Milwaukv.
3J.b
Z50,454.34
4.2
714.2t;1.8;-;
12.0
.45,958,263.85
100.0
Minnepolie
(u.ainly
In other citikto
Nev, York
Total
ii,
Reupeotfully ceubmitte
Stuti4tician.
OFF. C-7 —.
•
c,. rILLER
FILL,
FEDERAL RESERVE BANK OF MINNEAPOLIS
NINTH
DISTRICT
August 14, 1916.
My Dear Dr. Miller:
With reference to the Wisconsin Bank
Case: As the first proposition to be laid down, this bank
ought not to be deprived of 61 memberships, together with
;t251,850 of capital and .S1,456,467 of reserve deposits,
until very substantial arguments in favor of such a change
have been presented and have been proven to have a real
foundation. These figures relate to Wisconsin alone. If
we should have the misfortune to lose northern lachiTan
as well, the total loss of capital would be 383,850,and
the total loss of reserve deposits would be $3,325,136.52.
In the northern Michigan portion of the district we have
Such a loss would reduce the importance of
31 members.
this bank, taking away from us what we cannot afford to
lose, and giving it to Chicago, which does not need it.
The Seventh Bank is the second in size in the Reserve
System, and already occupies a very influential and
Such a change as is here contemdominating position,
plated would weaken this bank, and make the Seventh Bank
more dominating and more important than before.
As a second proposition, this bank,which
was small to begin with and which has an immense territory
to serve, should not be subjected to this loss without a
compensating advantage.
As a third,and it seems to me very important
consideration,no change of territory should be made unless
it is in strict compliance with the Board's regulation of
August 1, 1914, requiAng that petition for change be signed
by two-thirds of the member banks affected, The territory
affected by the Wisconsin petition is more than two-thirds
of Wisconsin, and the northern peninsula of Zichigan. The
original petition,although entertained by the Board, did
not have the requisite two-thirds of the member banks
supporting it, and the reopening of the case resulted in
the appearance at Washin7ton of the representatives of
only four member banks out of 31 in Wisconsin.
The decision of the Bo,.rd dismissing this
case gave opportunity, it is true, for the reopening of the
subject; but only =on the presentation of new facts. I am
astonished to find, on Governor Told's return from Washington,
that no new petition has been filed from Wisconsin as
required by the regulation, and of the affected territory,
only four banks were represented; also that no new facts
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Hon. A. C. Miller
August 14,1913.
whatever were presented.
I am still more astonished to
find that the chief arguments in favor of the change were
presented by four Congressmen and two Senators from Wisconsin, supported by bankers from Milwaukee,located in
the Seventh District, and having no right, under any
ruling of the Board,to be heard in this matter.
Governor Wold called 'these facts to the attention
of Governor Hamlin,and was reminded that the Board has a
right,upon its own motion, to take up a matter of this
aharacter. That is unquestionably true, but if the Board
wishes its decisions to be respected, and wishes to maintain
its prestige, in u matter as serious as this, it should, I
strongly believe, adhere scrupulously to the rules of procedure it has itself laid down, or else announce new rules
that will be plain and understandable.
At the hearing just concluded in Washington, we
were not provided with the text of an: new representation
or petition, and found upon arriving there t7'.at there was
in fact nothing of that sort. We had nothing to go upon
except the assumption that the arguments in the case were
the same as before, and we were consequently at a great
disadvantage. I think that this is extremely unfair, but
it is, of course, the natural result of the procedure
followed in this case, and has been remedied to some extent
by permission to file a brief before September 1st.
I should like to particularly emphasize the injustice to this district of permitting outside banks and
bankers to deliberately foment trouble, and to appear before
the Board in support of changes in the boundary lines of a
district in which they are not members. Milwaukee should
have no more rizht to dictate the limits of this district
than we would have in appearing in Washington and asking
the Board to rearrange the Seventh District, so as to better
the selfish business purposes of banks in :inneapolis.
We knew when we went to Washington on the first
hearing of this matter that the petition for a change was not
the result of any dissatisfaction to speak of on the part of
our member banks in our territory, but that it was the direct
result of agitation carried on by the agents of the Milwaukee
banks.
We have letters and ample evidence to convince us
that the reopening of the case was the result of the same
pressure from outside of the district. In this instance,
however, the pressure has come from Detroit and Chicago, as
well as Milwaukee. It is perfectly clear to me that there
is nothing involved except the fear of the bankers at these
points, all of which are outside this district, that they may
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Hon. A. C. Miller -3Augu:t 14, 1916.
possibl7 lose some accounts of our members in Wisconsin. If
the Board does not protect the Reserve Banks from attacks of
this character, it will undoubtedly have numerous cases of
this kind to handle. This matter has stirred up considerable
discussion here, and some of our members feel very strongly
that Milwaukee,Chicago and Detroit have no more right to
interfere with the present adjustment of our territory than
they would have to petition the Board, simply because they
might see a private advantage in it, to take Iowa away from
Chicago and give it to us, or to take the Pacific Northwest
Suc'l a proceeding
away from San Francisco and givd it to us.
doubtful propriety.
would, in my opinion, be a very
The injection of politics into this matter is extremely
disturbing. That significance there might be in the arguments
of six members of Congress in a matter that is absolutely
non-political, is beyond my comprehension, especially when
they had no arguments to present other than political oratory.
These six men cited no reasons why the present adjustment is
unjust to any member bank in Wisconsin, and. contributed
absolutely nothing to the essential points of the argument.
The very fact that they were before the Board is,however,
sufficient evidence that Milwaukee hopes, through political
Pressure, to accomplish something that cannot be achieved
on the basis of the facts or the merits of their contentions.
This case was originally argued August 8th, 1915. It
was decided in May of this year, and within thirty days we had
word that the Milwaukee bankers were again active in an effort
to have it reopened. They failed at that time, and as recently
as June 29th, when Governor Wold was in Washington, he was informed by the Board that this case could not be taken up until
the check collection system had had a thorough trial,from
which he was clearly of the impression that the case would not
be reopened, if at all, before the middle of October. During
the last week of July we learned by wire that the case would
be reopened "about the middle of August". The following day
we were officially notified that over night the date of the
hearing had been set forward a week, and that the hearing
This,in connection with Senator
would be held on August 8th.
Hustingis activities, would appear to be significant of considerable pressure of a political sort. Otherwise we know of
no explanation for the sudden decision to hasten the case and
take it up without regard for the rules of procedure laid down
by the Board, and without a new pe - ition of any sort.
Governor Told informs me that he was unable to fetect
in, all the arguments a single new fact or contention. On direct
the
questions those who represented the Milwaukee bank
four representatives of the affected territory who,in my
opinion, were the only persons present who had a right to give
evidence, wer - unable to cite a single circumstance or fact
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Hon. A. C. Miller
August 14,1913.
showing that the business of the Wisconsin banks cannot be
transacted expeditiously,and to their perfect satisfaction,
The president of one of our members
by this Reserve Bank.
at Wausau stated frankly that he has rediscounted heavily
with this Reserve Bank, and has had a large volume of business
with us, that all the details of this business have been handled
to his perfect satisfaction, and that he had no complaint
whatever to make.
The last remaining objection of any seriousness that
Milwaukee can present was disposed of conclusively by a
circular recently issued by this bank permitting member banks
in Wisconsin to cover with us in Milwaukee exchange. The
trend of commercial business, communication by railroad, and
other arguments of like nature are of little weight, since we
have demonstrated for a year and a half that we are able to
promptly and expeditiously serve every member in Wisconsin,
and what is still more significant, we are able to contend,
without fear of contradiction, that there is not a single
member in Wisconsin that has had business transactions with
us, but that is thoroughly satisfied with the prompt and
The whole Wisconsin case,
efficient service afforded.
therefore, simmers do7:n to the question whether this territory
is to be chopped up to suit the selfish view of bankers,all of
.7hom are outside of this district.
I am convinced that the only reasonable solution of
this question is the one presented in a suggestion made by
Aside from the fear of losing country
Governor Hamlin.
Milwaukee is ambitious to have a branch bank.
business,
Certainly, it Will have small chance of obtaininP: a branch
bank if Wisconsin is given to the Seventh District. It would,
however, have a very excellent chance of the immediate est_blishment of an agency for collection, and the creat:on later of a
branch, if the whole State of Wisconsin were put into this
district. With a rearrangement of this character,Milwaukee
would be in a great deal better position than it would be if
the affected territory were taken away from us and added to
the Seventh District, and in a better position than now to hold
We would not, of course, urge a change
its country business.
of this kind unless it can be 'brought Jbout without opposition of
the Seventh Bank, and unless our views and that of our friends in
Chicago can be brought into harmony.
We have been working very hard up hare to strengthen
this bank. There have been more conversions of state banks
into national banks than in any other district in the United
States. Through this process we have acquired thirty-five
new members since organization. If this change goes through, our
loss of members will be nearly double all of the gains we have
been able to make in more than a year and a half. If there
were sound and substantial reasons or submitting to such a
loss,I should feel that we ought not to complain, but take our
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Hon. A C Miller -5August 14,1913.
stake except
medicine. When there seems to be nothing at
the district, and
the selfish objects of banks outside
compelled to
perhaps some political considerations, I am
view, and I feel that we
take decidedly the reverse of this
ought to resist the change with al' possible energy.
bank
It therefore seems to the officers of this
-committee in charge of this
that, as chairman of the sub
communicate
institution, it would be appropriate for you to
no change in territory be
with the Board and ask that
7o perdetermined upon until you have had opportunity to
controversy,and that we are
sonally over the merits of the
in our
justified in asking you to intervene vigorously
necessary, in order to
behalf, if it should prove to be
reduction in
prevent what we regard as an unjustifiable
restriction of
capital and deposits, and an unwarranted
territory.
Should you return to Washington before the Board
in
takes action upon this case, Governor Wold joins with ma
come via the
the request that you arrange, if possible, to
northern route and spend a day in Minneapolis in oing over
this matter thorou7hly and becoming familiar with the
situation as we view it.
If the Board were in a position to compensate us for
the losses we face in Wisconsin, the situation might
differen, but I am not able to see where the Board mi7ht
find territory that it could add to this district, without
doing the same injustice to other Reserve Banks that
Milwaukee, Chicago and Detroit bankers propose to do to us.
Very
ly yours,
Fe:leral Reserve Agent.
Hon. A. C. Miller,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Federal Reserve Board,
Washington, D.C.
()MSS OF
C. 1i.LIA:k
FILE Xi. ...`
,u,last 7, 1916.
It.
1.
%tt:Iched hereto ple2se find list of names .-wma locations of
1scoJain in ff,o.ror of, oad opposed to, transfer to the
national banks im Sevanth Federal 'e:;erve District, us per lottors roceivod up to Aucust 8, '16.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2.
Ditto of ,ori.horn :lichigla banks.
3 and 4*
Amounts duo from the P. R. 13:Ank of lamseapolis -
(a) To a11 mombor banks in the Ninth V. T.
District, aw shown by the 2. E. Bank's st“temut of June 30, 1916,
(b;
',,ho 67 =dolor banks in Vvisconsin,
considered for transfer to the Seventh F. R.
%strict, u,:.; Shown in the Comptralorls reports of Jana 30, 1916, **Woo 00000 sees 0000000
19,378,659
1497,548
(c)
To t_io 21 mombor banks in V,isconsin
not cousWered for tr;imsfsr to the Oevonth
F. R. )istriot, as rhawn in the ...ouptrollerts
roports of Junk, 30, 1916,04 ***************.411004
(d) To all the vlonbor banks in Vlsoongin
presant in the iti '. E. District, as per
Comptrallorl:.: rcparte of Juno 30, 1916,
rez., 9-1
1,680,767
(o) To the 01 mortar isauks in 7,iseonsin
outzide 4stl3sd, Price Lail Tswlor
consider94 i'Dvtransfor to the Sovonth P. F.
1)1ttrict, as per Comptrollerla reports of
;
Juno 3D, 1916,..** *** 1100.11414D01,1101 ********* 1141104,000' 1,514,330
To the 31 clamber balks on the uppor
(f)
2ichijan peninstla. co...ad.-erect for transfer
to the Sevonth V. i. District, as per Comp-.
troller's reports of June 30, 1916,
Bespectfftlly submitted,
/44
,
1
4 0
ece1 4 z p.)
atistickne
831,887
.NAWS AND LOCATIONS OF NATIONAL BANKS IN WISCONSIN CONSIDMED FOR
TRAN3FF2
FROM THE NI= TO THE SEVENTH FEDERAL RESERVE
DISTRICT.
Name of Batk.
Ashland National
North ern "
s"
"
Citizerieilo
c0srtney'
National Bank of
Fir at National
11
ft
Vt
It
ft
ft
Chilton
Vt
Firt
Comorci 1 Nat ioral
First National
Fon du Lac ;42.tional
Fir st Nat io
Vt
Corm=
Vt
Fir st
ft
It
tt
ft
County.
Ash1:4td
Vt
Green Bay
11
If
Brown
ft
Pt
ft
DePere
Alma
Monclo vi
Nol SO 21
Bri Ilion
Chilton
Nei11sv illo
nflu Lac
ft
Against trannfor.
(nO)
NO
VI
Vt
ft
Yos
tt
it
Vt
Buffalo
tt
It
Calumet
ft
ft
tt
ff
Clark
Folihdu Lac
tt
Vt
Ripon
Vt
Crandon
Princoton
Black River
Falls
Cro SO
Batav ian "
ft
It
National Bank of
Antigo
riritt Nut ional
Ant1C0
Da.431ade It
Merrill
Citizens ft
National Bank of
Manitowoc
Vhau,son.
First National
onal Corm.,m American
...J;;zrinet. to
Fir et nutio nal
11
son Natio nal
Stephan
PeshtIgo
Pe2hti.Co ft
,)contoCitizens It
If
ft
Oconto
It
RhineLula or
First
C it Icon; ff
Appleton
Vt
Coax rci al. Nati o rul
,
T'irt National
Dale
Vt
ft
Kaukura
Pt
Seymour
Park Falls
Philli s
Stevens
iti zens "
Point
Fir st
Vt
Shawano
Gorrazn-Amorican National ft
T igerto n
First Natioral
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
In favor of
trp,nufer.
tyo)
AshLni
Vt
ft
ft
Tom.
Vt
Vt
Port
Green Luke
st
Vt
Jackson
La Crosse
ft
It
Langlade
fl
It
Lincoln
tlanitowoc
Marathon
Vt
;Lari notte
ft
It
ff
ft
Vt
Vt
Vt
ft
Oco nto
It
ft
ft
Oneida.
Out•':..tgamie
tt
ft
ft
ff
It
ft
tt
Vt
tt
tt
?To
No vote
Prim
ft
Portage
Vt
Vt
' Shawano
Vt
ft
No vote
First National
9
ft
PT
It
II
II
9
n
n
ft
n
H
National Manufacturers
City National
Commercial National
9
Old
Citizens
9
First
Wood County National
American National
First
"
Old
First
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Medfor4
Rib L.Ae
Blair
Clintonville
Manawa
Now Londal
Waup Q4a
Woyauwega
:donao ha
Noanah
n
Oshkosh
n
"
Grand RapJA s
91
n
Marshfield
Total - 6? babaks
»
Trompealeaa
Waapaca
Yos
9
No
If
tt
ft
9
n
9
"
It
ft
V;innebago
?I
It
n
ft
11
No
It
ft
"
ft
ti
Wood
ft
ft
11
Taylor
ft
It
I&
ft
ft
9
9
2 not voting
49 Yes
m
16 No
MR-31 MICHIG4NiENINATLA
NAIL6 AND 3OOATI0F0 0? NATIAAL 3,1K IN TILL
2U1 NINTH TO 'IV: SZVANT&
COSIWRIP FOR `211ANS1AI FROM
AL RilSailiF, DISTRICT.
Nage at Bank
of
First T:ationA.
cotzty
Alger
134,Arr;ip, Coluity liation4
First Nztionsa
Lsesnaba Ifutional
ft
First
ft
et
Toga
lawsIna
Altor
L'Anne
Sault ste .Yario
139ruga
.Esounaba
ft
Chipi,evia
Dolts.
Yes
ii
Ilan Mc:Attain
"Norwav
Tit
ft
ft
r
ft
1r°wood.
Ccater
*Fir st
It
ft
It
Craluxt
i000c
tt
ft
ft
I'
No voto
Gof;ebie
Crogebio
Ettee.t032
rr
It
tt
No vote
No vote
No vote
No vote
No
aouditon
SUpOriar
Citiiea
liatidlt On
First
tt
11
ft
It
ft
It
Hubbell
Lula) 141.n1m
No voto
No vote
hulk:Mon
Lauri=
ft
Crgutal Palle
Iron laver
jt. Ignacio
Iithpsang
i.rrjuette
Yoo
ft
No voto
No veto
ft
Iron Comity National
First
ft
l'.7.1nors
Fir st
rq.uette
irzt
tIouglnee
it
Yes
L:aokinao
Larquotte
ft
Nog:Janos
11
ft
It
Lumberman 9SLhtiond
First
ft
ft
'.2ot1 31 baniz;
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NO
No vote
No vote
No vote
ft
ft
11
ft
Against
tr:..knsfer
(1:o)
No vote
No vote
No
No vote
ft
ft
GOr:Cbia
In favor
of tr.:nsfer
(Yes)
County
moan°e
Menominee
ft
ti
Ontonagon
'Rockland.
aiiatiqua
n
Ontmac)
I.
3ohoolerra-rt
You
No
No
::o
ro
vote
vote
vote
vote
el
You - 5 in
19 not
1916, :3 in
veting
1914.
r e'
,'
r
, • ;f:-,
j
‘ 4) urIV•
9,
MEMORANDUM FOR GOVERNOR HAMLIN.
SUBJECT 1
1.
Result of the poll o$ the Wisconsin and
Michigan National Balks.
Of the 67 banks considered for transfer from Federal Reserve
District No. 9 to Federal Reserve District No. 7,
45 voted "yes* , January 1916
17 voted "no"
5 not voting
67
Of the 17 banks voting "no", 10 are located in the counties
adjacent to the counties which are to remain in District No. 9.
Of the 21 Wisconsin banks in the 9th Federal Reserve District
20
which are not considered for transfer, 20 voted "no"
i. e.,against
transfer to the 7th Federal Reserve District, and 1 had no preference,
Of the 31 banks in the Upper Peninsula of Michigan,
31
8 have requested to be transferred (4 letters dated 1914
if
1916
(4 "
*
not " "
1916
a
3 "
20 have not been heard from
31
Respectfully submitted,
Statistician.
August 3, 1916.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
FILE TIC
,
lall'012, 10 1916.
I enclose with this a rtlemor:mcium
reiatinc to the
ban)..zs in the 11th 1 istriet in 0111.3iana whic
h deeired to bo transferred fro:a the llth to the 6th District
, and those -;41.13h did net
aesiro to 1-x) tio tr ,nsferrod.
it appw.r4 that the Llentirriont ..non;:,.
the 26 tmanks in this
idatriot vi
airriOat oveniu divided: 14 lx..nks desi
red to bo tr:Izi.sferred.
LenCt.
dici not want to be tr ;IsferTed.
The resourees of the 1.,kulPz.s - vhich. Ltd,
droll. to )e tr 11...),ferred
'.70re :14,400,000, and the resou.rees of the
banks which Ole not 7nt
to be transferred were :,:12,598,000.
The Bc.;.t.ria, however,
-txy.nsferrea from Listrict U. to District
6, 16 banks, l(N.:.vinc: 10 in the
District as orik,-Inallz.' r coq- osed, the
recourses of the 16 b.'ex trans Terrell. Witt: C11,110,0 )).. and 6.1 the 1C)
which wore not tr.5:15tarred, !:;15,f390,000.
L. the section of tho itz,tto
trict there were alto3.ether 16
banks.
triQui.corrokt
to the Atlz..nts. Dis-
,pr these 16 bartkt; 11, with 7,1,627,000 of ea,:iitv.1, tlurrlus
and
1
-)rofit inU(, 14.00,0
z'osol•rcel,, d osirod to be trhnsferred.; and 5 bn.its
with ;`„ 8Z0 000 c,:.:41ita.1, MU' lus
P
and pro)."its and .:100,0.)0 ro30111`003,
did not aesire tc bo tr.nsferreLl
, but wore tr..12forroi, it appears,
acp last their will.
It is into
tin to noto that the ix.:nks which oVocb,ted
to
beinL. transferred bat .7ere
;
transferred, in their staterJents of December
319 1915, were lending considerably
more money secured by vr.i.rehouse
rectrlits for -aa-xictities othe
r 1- 1,•:_n cotton) tlz.r. the 11 banks which
t
.
were transferred in L-1000r(th
.lin'with their vote, although the lk,ans of
this character
ro not 1,-arz"i it either
s;00,0(X) with the bElniris
which objected to transfer,
as compared, with 11,0(X) by the bane
which wantee to be trl.ntsforreta
LI:nd wore trnsferrekl.
It also arpears that the lvatko
aesired to cozitinue to
(10 basinesfl with Dallas rather
than with Pm Orleans were the ver,y
bo4n..d.0142: the most tkusinoss with Dallas,
an wore
there.Core well able to judee as
to %id/ether or not they were being
well setsved and whether the business
was bein; conducted with tjue
,
recarci to customary course of trad
e. Theo 5 banks were borrowinc
',..13`.4422 from the Axieral iteserie 11=14 whereas the 11 br.1..s which
,
desired to be tr.,Aisferred were oniV borr
owing :,4,023«
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
- 2-
The statistics do not support Mr. Harding's arLument that these
banks which were transferred needed -Lie New Orleans connection because of
The attached table shows that the protheir rice and EnIL:ar business.
duction of sugar, by the eensus of 1910, in the counties in which were
located tha banks which objected to the transfer was 1,u45,000 tons e
sugar cane, as compared with 921,800 tons only produced in the counties
in which were located the 11 banks which asked for transfer.
The figures also show that the count 1Q,. in which were located
the 5 banks wnicn objected to the transfer produced in 1909, 7,241,000
bushels of rice, whereas the counties containing the 11 banks which desired the transfer only produced 5,715,000 bushels of rice.
These giguree
as to rice and sugar are obtained by adding together the production shown
by the census for the lifferent counties in which the banks transferred
in accordance with their vote and those transferred against their vote,
Where two banks located in the same comity
respectively, are located.
voted one in favor of and one against transfer, the production for tnat
county is included in the ppoduotien shown both for counties in which
are located banks voting in favor of, and banks voting against transfer.
Amon4 the banks transferred from Dallas to New Orlea_is are the
banks at Delliddr, wnich is 309 iniles from Dallas, but 262 nibs from
New Orleans and 765 miles from Atlanta.
Two banks transferro,;_, at
Lake Charles, are 347 miles from Dallas and 712 miles from Atlanta and
219 miles from New Orleans.
The nearest bank to New Orleans was the
Morgan City tank, 81 miles distant, but this bank was 396 miles from
Dallas and let voted against being transferred away from Dallas. The
First National Bank of Crowley, which is, as I understand it, in the
very heart of the rice district, objected to being tannsferred from
Dallas to Now Orleans, but wa3 made to niJ)ve an!
One of the banks in New Iberia, which was the next nearest bank
to New Orleans, after the Morgan City bank, being 107 milev from New
Orleans, as opposed to 397 from Dallas, also objected to being tied up
to New Orleans, although two other banks in the same town voted for the
change.
Sincerely yours,
JOHN* SKIP.LTON WILLIAMS.
Hon. O. S. Hamlin,
Governor, Federal Reserve Board.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
DISTRICT NO. 11 TO DISTRICT NO. 6.
METOBANDUY RELATIVE TO TRANSFER OF LOUISIAITA MYKS FR O1V
Carital, snrrlus arid
undivided ,refits
r bntks.
Banks which wanted to be transferred
and WERE transferred,
11
Banks which wanted to be transferred
but were 1TOT transferred,
3
Bank's which did not want to be transferred
hut 7;ERE transferred,
5
transferred
BanIzs which did not want to be
and were NOT transferred,
0427,390
1,285,105
020,003
1,,597,540
26
5,3:30,110
%I.strict ;:o. 11 to District No, 6,
Banks transferred from
16
2,447,473
District No. 11 and retained In
Bani:n heretofore in
that District,
10
Louisiana banks he
in District
o. 11,
Total
Resources
Loans secured by warehouse
2ediscount5
roceints for commodities
with
other than cotton Federal Reserve Bark
0,496,743
5,911,992
2,613,072
/ oduction of counties in which
..
banks located (.Jensus of 1910).
Tons of sugar cane Buehols of•RIce
;
14,023.
921,953
5,715,982
O
.
6,350
743,95
139,4L2.
1,045,480
7,241,941
20.365
0
11,435
00,768
,23_1,256
63,578•
.
27,006,063
167,447
30.J9.
174,264
1,994,156
13,301,318
143,445
1,430,881
8;075,146
30,819
24,439
,413,395
174,264
1,435,320
8,410,541
4,023
928,303
6,059,377
144,346
107,241
1,065,853
7,241,941
167,447
174,264
1,994,156
13,301,318
4,023
921,953
5,715,982
BECAPITUIATI ON.
26
Banks which vante- to be transferred,
Bank
transferred,
which did NOT want to be
14
12
26
DISTRICT TRn;FEPPED.
11
Banks desiring transfer,
subseovert letter
voted for transfer, but In a
One bank
in relation with
expresses "reneral satisfaction"
Dallas. •
*(1)
Federal Reserve Bank of
transferre,A
Banks which did "TOT desire to be
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Transforr(d,
Totals for District
banks vhich desired
*This banh In included In the 11
to
5
16
"e tmrsferrede
2,002,645
11,110,615
15,896,240
5,330,118
27,006,863
2,912,495
14,408,735
2,417,623
5,330,118
1,627,390
)
(95,222
020,003
2,447,4n
12,598.128
27,006,862
743
8,496,
(428,149)
2,613,872
11,110,615
92,434
75,013
167,447
23,101
11,666
(0)
(0)
80,768
139,422
92,434
143,445
(64)
1,045,488
1,967,441
(343,395)
7,241,941
12,957,923
DISTRICT NO. 6.
LOUISIAITA 3ANKS FRO!! DISTRICT NO. 11 TO
TWORANDUY RELATIVE TO TRANSFER OF
0r ba171-3.
Banks V:h Oh V;V.11.tC:1 to be transferred
and WERE transferred,
11
tal, sr,rrlu and
undivided 'profits
Total
Resources
;1,627,390
Banks which •;,iantod to be transferred
but were rroT transferred,
LOZ,.!1/3 secured by w:-....rehcazse
;:e. 1 sccunts
recei!its for commodities
with
ot'oer than cotton Federal Reserve Dank
reduction of counties in which
banks located (s;ensus of 1910).
Tons of sugar cane Bps'hols of Rice
11,666
4,023.
921,953
5,715,982
1,285,105
5,911,992
11,435
O.
6,350
343,395
Bans which did not want to be tm.rsferred
but 7:EEE transferred,
820,083
2,613,872
80,768
139,422.
1,045,488
7,241,941
Banks which did not want to be transferred
and were, NOT tninsferred,
1.597,540
.
1284
1
26
5,330,110
27,006,863
167,447
174,264
1,994,156
13,301,318
District No. 6,
Banks transferred from idstrict 1:.. 11 to
16
2,447,473
11,110,615
92,434
143,445
1,430,881
84075,146
retained in
Banks heretofore in ;District No. 11 and
that Di strict,
10
2,882,645
15,896,248
75,013
33,819
24,439
343,395
26
5,330,118
27,006,863
167,447
174,264
1,455,320
8,418,541
Banks which wants:: to be transferred,
14
2,912,495
14,408,735
23,101
4,023
928,303
6,059,377
transferred,
BarkE which did NOT want to be
12
2,417,623
,
12 598.128
144,346
107,2'41
1,065,053
7,241,941
26
5,330,118
27,006,862
167,447
174,264
1,994,156
13,701,318
11
Banks des i ring transfer,
in a nub:ler:tient letter
One bank voted for transfer, but
in relation With
exrresses "general satisfaction"
*(1)
Federal Reserve Bank of Dallas. •
1,627,390
6,496,743
11,666
4,023
921,953
5,715,982
5
820,003
16
2,447,473
Louisiana banks heretofore in J)istrist
o. 11,
20,365
63,578
BECAPITULATION.
transferre
Banks which did ::Or2 desire to be
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Transfern d,
Totals for District
banks
*This bank in included in the 11
desired to be trr.nsferred
...
(95,222)
(428,149)
(0)
(0)
2,613,872
80,768
139,422
11,110,615
92,434
143,445
(64)
1,045,488
1,967,441
(343,395)
7,241,941
12,957,923
OFFI,CE
LT,. A. C. LIILT,ER
FILE LO.
'V " •
)
y the Attornoy Glinerul of the
7WRRAFi, Arty opinion ren3ero
ment, regardUnited States, t:1,o hi;:hout IT., officer of the Govern
or 'warding the statue or poaers of the rodoral Revorve Bwtrd,
,ndinc before the
inf!; any question ‘,hich may at any tittle be pf!
effect conclunive as ner:ativin!-;itti conterpintej acBogri, 1.3 in
it in any
,
tion by the Roard, whilo it iorte not j:finitoly protect
n, for which
-ct!on taken au L roeolt of an uffirrutiva opirio
nn 4 1a1 Pw.r1 aftor eome Jiscuosion
retOlOn on at ir-kst to occaeio
,curo the orinion of
ha3 docirii:d to rofroin trot takin,7 steps to o:
th Attornly Ci.vcrc.1, %,t1:1
Coineral is
AT:TCSAS, tha Board is infortt,o;1tht the Attorruy
o uo 4 matter
not re:iuirod by law, and thut It in not his practic
opinions to Govornmont boiirds nuch an the Fodof courtesy to ;ivo
tha
,
;rul Res4rve Board, but furnishoo such opinion; Gill: to
../11 to tho Caqnet Mficrs who ure the
int of tha Unite StLteo
id,
taudl of the various lepurtments or the Gov-/rnmont, an
uniur
'lrAS, the Gov9r7tor of the Yederul TIoorvo Board, t;;o
undur
,ot
Section 10 of t;la Federal R000rv
day
the
thd sulK,rv;eion of the Fed;fral Re-ervk, Boar,l, Ili or
on in writin, to the Pren2
of November 1915, addrem, a co:A. unicati
Federal ReiJont of the Unitcd States dithout authority fro= the
a zujority of its membcrn,
ocrve Board, ara ithout the knovileuv.e of
Attorney Genrgscistinj, the Preident to socuro the opinion of the
at that tir ponaing
3tatvu on a cortttin mattor
oral of tho Unit
the Bozxdi
befo-o
reiterates
THEVY0Fr!, Ir. IT P' "OLTT, ThA the Bo“rd hore“.y
h;Ave the Attorney
it opinion, proviouoly oxprosoed, that a ro;ucot to
affect the
Genoral of Lt.o Unit.;(i St-teo give an opinion Lhich muy
be rad., only
op%triAtions of the Board io 4 serious step, ant nhoulci
ex9ress
,1 full ailcuosion on the part of the Bo;dru and by its
RIALority a3 oho:gn by 4 r,:ujority vote.
Vice
TV1OLV 1), That the BoarJ hore0,y directs itu Governor,
thoreof, to make no r-olucstn, Ilithor oral
Governor ,nd o,ch rurbor
to Lko no action of any kimt 4.Mt would lotA
, or im't4rItir,
,
j
Board ?- the
,
to th: ron1 1rin.; of an opinion on twitters) affnotins tho
axproJo cuthority of trio JotIrd granted at
Attornoy GonoraI, without
lagftl r-etinr; thqr9of.
mmovirD, That it is th; seuwe of the Board that no officer or
nate
9
member of thr) Board should confer :1 1,6 norritt, ec of the House,
mttors rorj3n,., betori th Board not yet Invie
or any rasrly:r ttvix 'of on
Ford.
• public, except Olen apectaily uthorizod ao to ci by the
a tht. he,41 of
,
)
ry of th. TrI%cury,
RML77D, That the Seorat
,
a lopartment of the Govc:rnrNmt, is nuthorlxd to aO opiniont of the
derul Resi.rvo ,ot extam° und ,r tn
Attorney Ganer;:A1, :4ni who j
ed
officio ohoim'In of ihtt Fcctorid Rooarvo Bouri, be roepectfully r-queot
to rerd the ;ashes of the
to ,adviuts the Board a to hit;
'
Belr6 42e outlined in ti ht for, oinj, r,,sQl4tions.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MILLER
OFFICE OF MR. A. C.
_
FILE NO.
•
OFFICERS
DIRECTORS
NEW ORLEANS BRANCH
SAU N DE PS ,
CHAIR MAN or THE BOARD
AR. BUSH,
MARCUS WALKER,
MANAGING DIRECTOR.
C. G. OUNN
CASHIER.
FEDERAL RESERVE BANK
Or ATLANTA.
( SIXTH FEDERAL RESERVE DISTRICT.)
NEW ORLEANS,LA.
Copy sent to:Hon. Wm. G.EcAdoo.
Hon. John Skelton Williams,
Hon. Frederick A.Delano,
Hon. Paul H. Warburd.
Hon. W.P.G.Harding.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
mOS ILE, ALA.
W. J. DAVIS.
JACK SON, MISS.
J. H. FULTON.
NEW ORLEANS, LA.
P. H. SAUNDERS.
NEW ORLEANS. LA.
MARCUS WALKER,
NEW ORLEANS. LA.
SOL WEXLER,
NEW ORLEANS,LA.
JAS. E. ZUNTS,
NEW ORLEANS.LA.
December 33.st/1915
anorsible Chmeles C. Hamlin, Governor,
AJoml Uoserve Board,
Washinoton, D. C.
Dear
As requf:r3ted In letter from H. Parker Willie,
fteretors, Osted December 22nd, 1915, 1 hand you heroin
\
71
brief of the Yew Or1c.ans Branch or the . Pderal Romerve 3an:c.
re transfer of tho entire State of Louisiana to the SIXTH
RELEWE DISYRIGT.
As seated by him,
of this briar to the 7edoral
havo foronrded a copy
eserve Bank at Dallas.
Attached to this brief, -jolt 7;117, notice a c(xv
of s telegram which we sent to the Governor nr the 70deral
Reserve Balk at Dallas, askirq; hin to forward to us
of thoir 4rIef;
;,01)y
"Isom hi s reply, they op7ear to bo
waltiw; for our brief before riakine an answer.
1
I a7, also sendin
to eac
n copy of tilf.1 enclosed brief
nember of the 7ederal Reserve Doard.
Uwe rempeothilly,
(Si6ned)
01.013'
J. H.Fulton.
Chairman of Commiettee.
•
OFFICERS
m.H.SAUNDERS,
CHAIRMAN OF THE BOARD.
MARCUS WALKER,
MANAGING DIRECTOR.
C.
G. OUNN,
CASHIER.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
DIRECTORS
NEW ORLEANS BRANCH
FEDERAL RESERVE BANK
OF' ATLANTA.
( SIXTH FEDERAL RESERVE DISTRICT.)
NEW ORLEANS,LA-
A.R. BUSH.
HOB
ALA
W. J. DAVIS..
JACK SON, HISS
J. H. FULTON.
NEW ORLEANS, LA
P.M. SAUNDERS.
NEW ORLEANS. LA
MARCUS WALKER.
NEW ORLEANS.LA
SOL WEXLER,
NEW ORLEAN3,LA.
JAS. E. ZUNTS,
NEW ORLEANS. LA
December 21, 1915.
The Federal reserve Board,
Thshington, D.C.
The undersieneidesire to and do hereby present
to the Federal eserve Board a statement of some of the
reasons why the whole State of Louisiana sho.Jd be attached to the SIXTH BESITVE DISTRICT instead of to the
212,7::1721.1 RESERVB DMIRICT.
As at present divided, the State of Louisiana is
a.eportioned between the SIXTH LESERV: DISTRICT tributary
to the Branch Bank at rew Orleans, assl the :17=21-TH RESERVE DISTRICT tributary to the Bank at Dallas. This
is an unnatural condition, as the whole State or 'Louisiana
is, naturally, and has been for many years, tributary
to I:ew Orleans. That the division is unwise is mast clearly
shown by the attitude of the Banks in Louisiana which have
been apportioned to the two Districts.
lurnin, first to those Banks which have been apportioned to the raw Orleans District, we find them entirely
satisfied with the disposition that has been mrde of them.
On the other hand, the Banks situated in Louisiana which
have been apportioned to the Dalle District are anythin but
satisfied. These are twenty-five in .number; twenty out of
these twenty-five have signed a petition addressed to your
they regsest that t:A;, be reLsved
Honorable Body, in
fro the ELITv".::TH ...:IST7IICT and placed in the SIX211 DISTRICT
:ref;
or Few Orleans )istrict. The a_AI .. ate capital and surplus of
the twenty Banks v,hich have siL,ned this petition amounts to
4
.3,926.000. Of the five remaining Banks, one (The Commercial rational Bank of Shreveport) has not been included for
esiqent of
.
the reason that since Li. D. Kirby Smith, the
Board of the Ds.11s Bank, it was
the Bank, is a meisber of the
thoucht it would be a source of embarrassment to him to
suest that his institution siL;n the petition, and we think
it fair, therefore, that th -t institution be eliminated from
t:e ,A.scussion and 2laced in the position of benevolent neutrality. The four remaining Banks which have not signed
(2)
have an aggregate capital and surplus of :432,000.
have, therefore, the overwhelming majority, both
in nur.ber and amount, favorable to the transfer of all Louisiana Banks to the rev; Orleans District. The mere fact that
twenty out of twenty-five Banks, of their awn volition, have
come forward and asked to be transferred to the rew Orleans
District, is, perhaps, as cogent an argument as could be presented to you in favor of the change. The men in chazzel of
these Banks are, of course, the best judges of theivi inter
ests, and as they are practically unanimous in their belief that
they should be placed in the :ew Orle ns District, we think we
may safely say that it is thereby established that the best interests of the Banks in question would be subserved by granting
their request and removing them to the rev; Orleans District.
These Barf:s, however, have not been content to let their case
rest upon the rctical unanimity of their decision. They have
been at 30MC pains to 7ive the reasons upon which these opinions
have been based. Those reasons are as follows:
1st. During a long. series of years the entire State of
Louisiana has done its banking business and made the greater part
of its banking, mercantile, financial and indtstrial connections
through the Banks located in the City of rew Orleans, which is at
.resent in the SIXTH DISTRICT. In fact, so marked is and has been
this financial leadership of Yaw Orleans in the territory surroun
ding it and including, particularly, the territory in which these
twenty-five Louisiana Banks are situated, that the banking laas
of the State of Louisiana were highly developed at a very early period
in American history, and were the models upon which the bankil;g
laws of the other parts of the Union were constructed.
2nd. The condition referred to in the fore,oing paragraph
is due to the fact that the State of Louisiana looks, to a
large
extent, to the City of re Orleans as a natural market for its
.
.
produce and as a natural source of its supelies, and, therefo
re, it
follows in the normal course of trade and business that the banking
,
mercantile, financial and industrial relations and connections of
the "tate sholld be throuja that City.
Developing this fact a little further, we call the Board's
attention to the fact that the main business of the state of Louisiana consists in the producing and handling o rice, cotton,
sugar
and lumber. The rice 1)roduced 11,Louisiana, and particu
larly in
t'iat part of Louisiana which haWteen insulated from rela
Orleans,
is almost entirely produced with money secured through Tev;
Orleans.
The natural result has been that the course of trade for
this
rice has followed the source fro:. which the supplies
come, and
the rice itself moves to market to or through rew Orleans
. This
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Ns,
(3)
means that the rice farmers, millers and operators purchase
their supplies almost entirely in New Orleans and do the bulk, if
not all, of their business through that City. This condition
has continued, neceithstaeding the fact that the local Banks in
the rice belt have been disassociated from FM Orleans and been
placed in the Dallas District. In fact, the only eifect produced
by associating these Banks with the Dallas 2istrict has been to
work a hardship on the Banks disassociated from New Orleans and
pieced in an unnatural association with Dallas.
The same thine may be said, perhaps with greater force,
in regard to the cotton industry. New Orleans is so well and favorably known as a port of cotton export, and the ierpetus given to
that business by the close and intelligent attention which has of
late years been given to the port facilities and warehouse facilities for cotton at New Orleans is also so well known, that it would
be an act of supererogation on our part to call it to the attention
of the Board here. ehe long established course 01 usinees and
the intelli. ent and effective development of that business of late,
have united in securing for New Orleans the entire cotton business
ef the state of Louisiana. idoreover, the Nevi Orleans Cotton ?exchange is the leadin Cpot Cotton Exchange in America, and certainly one of the two or three leading Exchanges in the world and, naturally, attracts business to that port. The fact of the matter is,
that the struggle for trade between the Texas ports and the New Orleans port has (as the famous 7,hreveport case most clearly shows)
been carried on, not in Louisiana territory at all, but entirely
in Texas territory; the question at issue being, not whether all
of Louisiana shall be tributary to New Orlea.s, - since that has been
universally taken for granted,- but whether a considerable portion
of the Panhandle of Texas should not be tributary to the Crescent
City.
That the sugar industry of Louisiana is in a position similar to the position of the rice and cotton industries needs no
demonotration. It has never been claimed that a single dolls._ of the
sugar business of Louisiana is eone other than in or through New Orleans. Ls we do not think that this will even be controverted, we
simply mention it; at the sane time, we desire to call to the Boerd's
attention the fact that the sugar industry is a very large one, and
that the banking business done in connection with the production and
marketing of sugar is of enormous volume, the figures running into
many millions. L:oreover, the business is one which requires special
knowledge and which can be handled successfully and to the advanta6e of
the planter only by the banker who, from long and intimate association with that business, knows and appreciates fully its needs and requirements. In view of these facts, it has worked and will work a tremendiuus hardship on the Banks in the sugar district and on the sugar
producers, manufacturers and sellers to assign them to a District
Bank which has absolutely no experience whatever in the sugar business,
and the location of which is such that it will not tend to give them
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,••
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4)
this experience. ror \dal an indefinite amount of time
remedy this condition, for the natural course of sugar is
to the East and (as the short experience of these Banks in
this rich section of territory in the fallas District has amply
demonstrated) the fact that they are attached to that Disctict
does not have the effect of making them look to that District
for their needs. Its entire effect consists in making it more
difficult for the sugar planter to handle his business through the
local Bank, and more difficult for the local Bank to handle this
business with a eserve Bank.
The situation in regard to the lumber industry, while not
quite so acute as the sugar situation, is still striking. The best
evidence of the natural course of the trade of the lumber indUstries
of Louisiana now attached to the Dallas District is to be derived
from the fact that those very lumber industries, to a large extent,
have concentrated their selling forces and selling headquarters in
Yew Orleans. The Couthern Cypress i,lanufacturers Association, which is
the well known general advisory council of the cypress sellers of
Louisiana, is located in Lew Orleans, as is also the Louisiana 7ed
Cypress Company, a concern which handles the output of a very large
number, if not a majority, of the Louisiana Cypress Eills. A similar
organization of the pine people is also located in Yew Orleans. It
seems anomalous to force these people, financially, in a direction
which is diametrically opposed to that which they have normally assumed
in their awn trade development; to make them do their.banking in Da_las
and their business in Yew Orleans; to make them earn the money in Lew
Orleans and deposit in Dallas; and to borrow in Dallas for business do-7.e
.
in rew Orleans.
Probably the most effective way of painting the argument
which we have set forth above is to give you succinctly the experience
of one of he larg st Banks attached to the Dallas District, and which
experience apeears in one of the letters attached hereto. That letter
reads in part as follows:
" As we are located, we, naturally, do business with
Few Orleans, and do business with Dallas only in an
"unnatural or out-of-the-way" way. Illustrating this,
I may say the
Bank joinea the Ileserve Bank's Inter-collection System im.ediately upon
its establishment in this District in order to be as
helpful as possible in creating a natural flo%, of business.
This Bank has done through the Dallas office all
of the business that it has been practical to do without
unnecessary expense to itself an without inconvenience
to its customers.
This Bank, during the period from January 1st,
1915, to October 31st, 1915, inclusive, sent to the
•
(5)
Federal Tleserve Bank at Dallas 48 transit
items of aeceregate value :a85,930.48,and
to its 1-ew Orleans correspondents 23,002
items of an apgregate value of ,;;4,801,221.61.
During the same period it drew against
its account with the Federal Peserve Bank 32
drafts of ageregate value ,e233,576.48, and
upon its lew ")-cleens correspondents 6,988
drafts of an ag;eregate value of /1,815,566.31.
During that period it has shipped in currency
.
rederal 1.eserve Bank aggregating „76,000.,
frol
and from its correspondents ,468,400., illistrating
pointedly the natural trend o. our business."
YAlen the Board considers that the Bank, whose experience
we have jut set forth, is one of the largest Banks in that part
of Louisiana which has been attached to Dallas, end that the Bank
in qeeetion has ten branches in ten different cities and towns
of Louisiana, it will mire fully appreciate t e force of the contentien that ee are making and the justice of the request which
is made by these Banks,- that they be transferred into the rev; Orleans District.
3rd. The next reason advanced by the applicants for the
change is that the general geographical situation of the Ftate and
the loce.tion of the transportation lihes and facilities for speedy
colireunication naturally suggest that they should be made tributary
to Lew Orleans. It is geographical fact too ell known to need
elaboration, that row Orleans is at the foot of the 11ississipoi Valley and the water routes all lead,- not to :lone,- but to Few Orleans.
In the development of the country, the railroads, at an
early date, naturally followed the water routes, and, therefore, the
4upbuilding of the railroad systems of Louisiana, naturally, were extended, with hew Orleans as the hub. he.; Orleans, until it grew too
large, was the cnrital of the -tate of Louisiana and has, since time
was, been the coeeeercial metropolis of that State. The result of all
this was and is that rev Orleans is a point to which access may be
had quickly and often from any other point in the eta - e of Louisiana.
This moans that the train service,-passenger, freight and express,
and the mail service into Yew Orleans, to ane from the points at which
the various petitioning Banks ale located, is excellent and is incomparably quicker and more frequent than the train service, express service
and mail service to those points from Dallas.
In this connection, we call your attention to the statement
in the letter from one of the Lake eherles Banks attached, reading:
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
)
(6
"The train Iervice between this point
Lew Orleans isvery convenient for our use,
and
rew Orleans being but 218 wiles distant; \,e get
all of our currency shipments from the City of
1:ew Orleans, as we find it more convenient and
satisfectory in every respect."
To the letter from one of the Banks located in
Opelousas, reading;
"Loreover, the rev; Orleans mail and express
facilities are so- much superior to those of Dallas that we do not expect to enlarge our dealings
with the Pederal :eserve Cystem , unless we be
transferred to the lbw Orleans Branch of the Atletnta Bank."
To the letter from one of the Banks located. in
Chreveport, reading:
"Our geographical location and transportation lines and f.:eilities for obtaining currency
and. speedy comunication, combined with the larger
comparative proportion of our business, as stated
above, make it desirable and advaLt:zeous ,o us
to be affiliated with the Branch Bank at Few
Orleans, instead of the Dank at Dallas."
To the letter from the Bank loc,ted at Lake
Providence, reading;
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
"The major part of our business is handled through
::ow Orleans. The difference in time is wenty-feur
hours in favor of Few Oi-leans, the majority of our cotton goes to :ew Orleans, and the fsct that course of
trade and the natural trend of this Bank's transactions
would be through Uew Orleens."
To the letter from the Bank in 1,:onroe, reading:
"In the early days, before the country became
filled up with railroads, the navigable str-ams
being the principal means of communication between
distant points, the channels of trade were so firmly
fixed and established between Yew Orleans and the surrounding territory, that it has never been materially change.
or disturbed. ie have practically no commercial intercourse
on the lines runnine East and Yest. This is true with
reference to towns and. cities located very much closer to us
than Dallas, Texas. The amount of merchandise and comesrce
(
7)
flowing to and fro between Dallas, Texas, and our
own City of :Ionroe, La., is so small that it is not
even worthy of making an estimate. This being true,
the banking business, naturally following the trade
route, is almost exclusively on a nothern and so170thern course. If the entire business we handle,
which could more conveniently be cleared through
Dallas than through rew Orleans, by sending to te
Federal T,eserve Bank at Dallas, was all put together
for a period of one year, I do not think it would
equal one average full day's business in our own Bank.
Our connection with Dallas has been of so little
importance that we have never maintained a correspondent
in their City.
The opening of the Federal ;.eserve Bank in Dallas
and our being placed in that District ha not made the
slightest change in the routing 0: our business; that is
to say, we are continuing to so,.d the bulk of it to the
City of New Orleans and the northern and eastern cities,
rarely ever having occasion to send an item Vest."
Another very sure index of the course of trade is to
be found in the exchange business done with the Banks at the various
points and the two Banks, the one at Dallas and the one at New
Orleans. The situation in this respect is strikingly illustrated
by the fres quoted above from a Lake Providence Bank. These
figures are borne out by similar figures from other of the petitioners.
Thus we find another Lake Charles Bank jving its figures as follows;
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
"For the months of August, c'eptember and October
1D15, we had 107 items on Dallas, and during the same
.,eriod we sent 3,0-.:3 items to the City of New Orleans."
One of the Opelousas Banks writes:
w_he reason for making the request, as stated in
a previous letter, is that we have no business connections
whatever with Dallas, and the only business we have had
with the Dallas Federal reserve Bank is to pay the installments of capital stock called for and to remit the reserve
deposits required under the law."
One of the Shreveport Banks writes:
"The natural trend of a large portion of our
business is towards New Orleans and not to Dallas,
as evidenced by the large amount of items handled by us
from January 1st, 1915, to October, 1915, viz;
(8)
New Orleans,
Dallaq,
1
6.A. 115 90
.
2,i-151,263.57
notwithstanding the fact that we joined the
Federal Leserve Bank's Inter-collection System
so as to give the Dallas Bank as much business
as possible."
Frol: the foregoing we respectfully submit, it will
be apparent to your Honorable Board that the natural course and
convenience of trade of that portion of Louisiana which is attached to the Dallas District is not westward and towards Dallas, but southward and eastward, towards and through Few Orleans. If this be established, the case for Yew Orleans is complete, for the Federal 7,eserve T3,ank Act specifically provides that the Federal eserve Districts
shall be apportioned with due regard to the convenience and customary
course of business within the United states and with foreign countries
,
and once we establish the fact that the customary course and
convenience
of all Louisiana Banks is t".sough Few Orleans, it necess-,rily follows
that the Board will observe the requirements imposed upon it by
the
Act which created it and grant the petition of the large majority
of
the interested Banks, that all Louisiana be assigned to that District
headed by the Bral.ch Bank at Few Orleans.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2,espectfully submitted,
P. H. SAUNDERS
Chairman, Few Orleans Branch
Federal .1 eserve Bank
.
Atlanta
1,:ilEC US V.1LIC.
JAI.:]S E. ZUETS
SQL LEXIZR:
A. P. BUSH
. J..DAV IS
FULTON
Directors.
•
0177C: C2
C. n11411:17.3.
IPA
446.
FEDERAL RESERVE BOARD
.
WASHINGTON.
Decem eq4, 1915.
*
sNir
\'\)
To the
Federal Reserve Board.
i
(eived and noted the
Your Conxnittee on Redistricting has rec
/
copy of the opinion of the Attorney General add'essed to The President
of the United States, under date of November 2'2, 1915, to the effect
that the Federal Reserve Board has not the power to abolish any one or
more of the Federal Reserve districts, or o.ny one or more of the Federal Reserve Banks located in the cities designated by the Reserve
Bank Orgaization Committee.
Your Committee feels that there has been a serious misunderstanding, not only of the substance and purpose of its preliminary report filed with the Board on November 13, 1915, but also of the motives
which prompted it.
Therefore, before making any further recommendations,
your Committee is desirous of recounting briefly the facts whichled to
its action and on which it based its recommendations, with the hope that
a better understanding of the facts as they appeared to yourCommittee
may promote
a common point of view and conduce to a continuation of the
harmonious cooperation and mutual good will that has in the past char-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
- 2 -
446
acterized the work of the Board and stamped it with the approval of the
public at large.
On March 1, 1915, Er. Elliott filed with the Board an opinion
dealing with the general powers of the Board to review the determination
of the Organization Committee, to readjust the Federal
Reserve
districts,
to change the designation of the Federal Reserve cities, and to reduce
the number of districts formed by the Organization Committee.
It is to be
noted, however, that, in this opinion, the question of reduction was referred to very briefly, and Er. Elliott later advised the Board that the
consideration of this particular question was merely incidental to tho
main
questions discussed in that opinion and that, should the question
of reduction be specifically considered 1 the Board, he would appreciate
"y
an opportunity of reconsidering his earlier opinion on that particular
point.
Members of
In view of the doubts raised by Er. Elliott,/the Board danxidark
availed themselves
*41cmgmaxItzatt of the opportunity of Senator Owen's appearance before it
in the hearing of tho appeal of certain Oklahoma banks requesting a transfer from the Dallas to the Kansas City District, to ask for his views concerning the intent of Congress and the meaning of the Federal Reserve Act
relating to the powers of the Board on this whole subject.
The request
for Senator Oweni s views-was not accidental, but intentionally contemplated to instruct and guide the Board in disposing of pending appeals.
His answer was that Congress meant to "give to the Board the powet
of the Government itself
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
in
dealing
with
this
system"
446.
-3
and that he thought the power of the Board "would extend even to the
power of reducing the districts".
It is understood, of course, that this statement by Senator
Owen was merely his own personal opinion and that it was made at a time
when another though closely related subject was under consideration, but
it at least indicates that there was no decided impression in Senator
Owen's mind that this power to reduce was not given the Board.
The Board subsequently published in the June 1, 1915, Bulletin
a resolution, which was passed unanimously on Eay 4, 1915, when both
Governor Hamlin and ir
Williams were presont,.providing, among other
things, as follows:.
"That action on other pending petitions be deferred
until further experience in the actual oporation of
the several districts, especially in the light of the
now clearing system which is about to go into effect,
and of the extent to which State banks take membership
in the Federal Reserve System, shall have provided the
Board with the necessary data for a conclusion, it being the opinion of the Board that action on petitions
relating to changes in cities designated as the location of Federal reserve banks should be deferred until
the Board shall have reached a conclusion from experience as t any further readjustments in the boundaries
of the several districts, or in the number of districts,
whk.ili y.be desirable in tile _operation and development
t
of the Federal_Lavikliptem." (The italics are ours)
.
Your Committee is positive that no objection was raised at
that time by any member of the Board or by any Member of Congress,
indicating dissent from the proposition that the Board had the right to
reduce
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
446
4
The number of districts.
Indeed, such an argument was never raised in
the briefs of counsel on the val'ious appeals heard by the Board.
On October 19, 1915, the following vote was passed, "to refer
the question of redistricting to a special Conrdttee consisting of Mr.
Delano, Mr. Harding and Mr. Warburg".
Counsel for the Board were
soon thereafter requested to prepare opinions as to the legal right of
the Board to reduce the number of districts.
Ur. Cotton filed his formal
opinion on November 22, 1915, stating unqualifiedly that the Federal Reserve Board is fully authorized by the Act to reduce the number of districts.
Mr. Elliott, who, in accordance with his own request, was re-
considering his earlier opinioni of March 1, 1915, filed his opinion
With the Governor on November 23, 1915, and on November 22, 1915, the
Attorney General delivered his opinion addressed to The President.
It may be notecl.,therefore, that at the time of making its
preliminary report on November 13, 1915, your corndttee did not believe either that members of Congress would take the position that the
Board was without power to reduce the ntmber of districts or that members of the Board would, in view of the unanimous resolution above quoted
take that view unless forced to adopt it by the conclusive opinion of
Counsel:
Your committee began its work by elaborating a report submitting definite alternative plahs, but finally concluded that it would be
preferable to ask the Board first to pass upon the question of policy and
the principle involved.
Your conrc:.ttee had, however, reached a conviction
that the country would be better served by a reduction in the
number of
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
446
-5 districts to eight or nine.
The reasons on which this conviction was
based seemed Go convincing and conclusive to the committee that it
hoped the Board might adopt unanimously the recommendation which it outlined.
The committee is desirous of emphasizing in the strongest terms
its absolute confidence, not only in the underlying principles of the
Federal Reserve Act, but also in the machinery provided for developing
such principles into a system which has already brought immeasurable
benefits to this country and which; whether with twelve banks or eight,
will prove of inestimable value.
That the number of banks and districts
originally created was larger than is conducive, in the opinion of your
committee, to the most efficient operation of the system and to the
greatest safety of the country is not the fault of the Act, but is due
.
.
to the fact that the Organization Committee, which, though acting in the
best of faith, could not, in the short time allotted to it, acquire such
knowledge and experience as is absolUtely necessary to a final determination of such an imr;:ortant question.
The Attorney General has since denied the right of the Board
to reduce the number of districts determined by the Organization Committee,
and in view of that your committee is not desirous of raking any further
recommendations at this time.
It wishes, however, to emphasize the fact
that at the time of filing its preliminary report, no doubt existed in its
mind as to the wisdom of reducing the number of districts in the near future, but also the right of the Ecard to make such a reduction.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Your committee is ready to submit an abstract of the arguments
446
- 6 that were prepared by it when it supposed that the subject was to be discussed on its merits, and it is of the opinion still that these arguments
will assert themselves sooner or later, and that the country will not
rest satisfied until the Federal Reserve System shall have been developed
to render its maximum possible efficiency.
Furthermore, your committee
feels that, if the adjustment is not made at this time, it is more than
likely to be made at some future time, but with far greater difficulty
and disturbance.
In reviewing the evidence before the Organization Committee it
was noted that, of the eighty-four witnesses, only nine recommended the
formation of twelve districts;
a large majority favoring not to exceed
nine districts.
Your committee concluded, as a result of its study of the question, that the greatest protection from future disturbance was the tmediate uottbli3hrumt.of a.aystem enjoying its maximum degree of usefulness
and service.
The country would not permit any subsequent interfere(dnce
with a machinery once perfected, whereas, weaknesses, such as those which
seemed to your committee to exist now, offer a constant target for critics.
For these reasohs, not to mention the many practical advantages incident
to carrying out, prior to January 1, 1916, any changes that might have
been decided upon by the Board, your committee was sincerely anxious to
secure prompt discussion and full consideration of its recomrendations.
As the chairman of the cormittee repeatedly stated, the desire
for immediate consideration of the question was not prompted by any inten-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
446
- 7 ±ion on the part of your cernylittee to force the Board to take any unconsidered action, and the fact that the request of two members of the
Board for another preliminary report in writing as to the reasons for
its recommendations was opposed 1;y the corruittea was, as explained by
the committee, solely because it desired to have the report discussed
without delay
on its merits/and at that time lay before the Board all the facts and
figures it had collected.
Such a course was in consonance with our usual
practice
The committee had postponed filing its report on account 'of
Secretary IficAdools absence in the west, and later waited until Mr. Harding had called on him at his house to apprise him informally of the views
of the committee and secure any suggestions which he might see fit to
make.
The Secretary, however, was unable, because of his own illness,
and later by illness in his family, to discuss the matter with Mr. Harding, and the committee then filed its report on Saturday, November 13,
1915, fixing the following Monday for discussion by the full Board, the
Secretary of the Treasury having stated to members that he would be engaged on his report to Congress until the 15th, which the committee assumed would leave him free after that date.
However, consideration of
the report was postponed until Monday, November 22, 1915, because
of the
inability of the Secretary of the Treasury to be present until that date.
At the meeting of November 22d, the opinion of the Attorney General, already referred to, was presented;
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
also, the letters of two United
446
3
ate Senators.
Your Committee desired to repoat that at no time
had there been a discussion of the Comnittee's original report of
November 13th or of the revised report of November 17th.
The Com-
mittee therefore regrets that before it had the opportunity which
it desired to make an oral presentation of facts and arguments,
and various data, in its possession, the Attorney General's opinion
was sought without its knowledge.
Your committee believes that it would have been fairer to
The President, to the Attorney General, and to the Federal Reserve
System, if the case had been submitted to the Attorney General with
a full presentation of arguments on both sides of the question.
If
the Attorney Genera4,for example, had understood that no closing of
banking offices was contemplated but that in every city where a Reserve
Bank was abandoned a branch bank would be establishe4, he would not
have been led to believe that the Committee's recommendation "would
profoundly affect the currents of trade and alter the whole fact of
business thz'oughout vast sections of the country," etc.
If your committee was right in its conclusions as to the advisability of a smaller number of districts, the permanency which the
Attorney General and every one of us desires for the future of the
system would have been best secured by prompt and courageou
s action
now.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
446.
- 9 _
Your Committee, however, fully appreciates the authority of
the 1,ttorney General's opinion and, subrAtting to the conclusions
reached therein recoraionds that tho Board abandon, at least for the
present any plan of redistricting which involves the consolidation of
any districts and that the Board now adciress itself to the specifiv appeals pending and to such readjustents as Lay be permissible and practicable under tho Lttornoy General's opinion.
There are now pending before the Board for disposal five
applications, viz
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
First:
The application of certain Le:aber banks located
in Western Connecticut requesting that the territory in which they are located be transferred fror.
the First to the Second Federal Reserve District.
The Committee respectfully recommends that a date
be fixed for the hearins of oral ar{;uments before
the Board relative to this appeal;
Second:
The application of certain member banks located
in Wisconsin rquesting that the territory in which
thoy are located be transferred fror., the Ninth to
the Seventh Federal Reserve District.
The Committee
respectfully rcommends that the Board send a letter
ballot to all Laember banks of the I:inneapolis District involved in this appeal, requesting that
they
reply promptly to
the
Federal
Reserve
•
44-;)
-10Board, stating whether they wish to be transferred to the Seventh or to remain in the Ninth
District, and stating also whether they feel
that their interests are being harmed by remaining in the Ninth District;
Third:
The application of certain member banks located
in Louisiana requesting that the territory in which
they are located be transferred from the Eleventh
to the Sixth District.
The comritteo respect-
fully recommends that, unless the Federal Reserve Bank of Dallas desires to be heard in
the matter, the case of the Louisiana banks be
decided upon the facts now in the possession of
the Board without any further hearing, but if Dalr.
las desires to be heard that a date for the hearing be 7romptly fixed.
Fourth: The application of member banks located in
and
Fifth Pittsburgh and Baltimore requesting that those
cities be designated as Federal Reserve Cities in
place of Cleveland and Richmond, respectively,
Your committee wishes to call the Board's attention to the
opinion of Mr. Elliott, dated March 1, 1915, which, in answer to the
question "Can the Federal Reserve Board, under the terms of the Federal Reserve Act, designate other Federal Reserve Cities in place of
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
- 11 those selected by the Organization Committeo?", held thc,t the Board
has no legal power to change the designation of a Federal Reserve City
unless such change is necessary in order to accommodate the convenience
and customary courso of business in a readjusted district.
Er. Elliott,
In disposing of this point, stated:
"If, therefore, the Board concludes that the districts
arc not apportioned according to the purpose and intent of the Act and doterminos that it is necessary
to readjust such districts it would seem clear that
it possesses an implied power to change tho designation of the Federal reserve cities. If, however,
the districts are not readjusted, it seems very doubtful whether this power can be iruplied, and to change
the designation of cities without readjusting the
districts woad necessitate resolving this doubt in
favor of the exorcise of this power against the apparent intent of Congress. "
On the strength of this opinion of its Counsel, the Board
might wellIbe justified in undertaking such changes in the designation of Federal Reserve Cities as may be necessarily incident to
the readjustment of the districts in which they arc located.
the other hand,
because
in view of the great importance of the subject, and
of the doubt expressed by Er. Elliott,
of the uncertainty in the minds of the committee
and
effect
this
the
of
particular
Board
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
the
On
the
opinion
point,
it
suggestion
of the
subLiits
that the
Attorney
for
and also because
as to the intent
General
consideration
Governor
be
on
of
446
-12structed to address a letter to The President, asking him kindly to
request the Attorney General to give his opinion on the following
questions:
(1)
Can the Federal Reserve Board legally change the present lo-
cation of any Federal Reserve Bank?
(a)
(b)
(2)
In the case where there has been no alteration in
the district lines? and
In the case where there has been such a readjustment of
district lines as in the opinion of the Board necessitates the designation of a new Federal Reserve City in
order that the convenience and customary course of business may be accommodated as required by law?
Must the Board, in exercising its admitted power to readjust,
preserve the $4,000,000 minimum capitalization of each and every
Federal Reserve Bank.
Your committee finds itself unable to make any specific recommendation relating to the changes in the designation of the cities
of Cleveland and Richmond as Federal Reserve Cities in the Fourth
and Fifth Districts, respectively, but it feels that any attempt
to determine those questions should be deferred until the Board
is advised finally and definitely, not merely of its power
to
ehr_nv th) designation of a city, but also, first, whether the power
to make such a change is dependent upon further readjustments in
the
district lines, and, second, whether, if it is dependent upon such
readjustments, the $4,000,000 capital limit must be preserved in
making such changes in the district lines.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
44
-13Your committee also feels that if this rattpr is put up to
the Attorney General, he should be advised that, while there are distinct features in the present adjustment of districts which do not corn
mend themselves to the best judgment of the committee, and do not in
its opinion comply strictly with the injunction that due regard must
be had to the convenience and customary course of business, we recognize the difficulty of adjusting these matters so long as the Board
is bound to preserve twelve districts, and at the same time maintain
for each bank a capital large enough to command sufficient prestige
and confidence.
In his opinion the Attorney General formulated the query,
"Would the power to readjust districts, which is expressly conferred
upon the Board, be nullified or rendered impotent if the power to
abolish districts and banks is withhold?"
to this is that the ruling of
Your committee's response
the Attorney General, as a practical
matter, hullifies the Board's power to readjust the districts inasmuch as such readjustment of necessity must be made with a view to
preserving an adequate capitalization for each bank, several of
which are now close to the limit prescribed for the Organization Committee and of smaller size than is conducive, in the opinion of your
committee, to the best interests of the system.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Respectfully submitted:
F. A. DELAT:0
Committee
P. M. WARBURG
7T,
P. G. 1-1:.RDINC-
•
C77IC: CI
IIIL
(Copy)
_a. A. C.
`4,12.2 •
HOUSH: OP REPRESENTATIVES
Washington, Noveber 13, 1915.
dear Mr. Delaao;
On reaching my hotel tonight I find your confidential
note, with inclosure of report of your committee, for which I
thank you.
I
1,1d
road in the '74,shino•ton Star of yesterday a
,
paragraph to the effect that the Pederal Reserve Board contemplated some such action as that proposed by your committee;
but, being somewhat incredulous, I called Dr. Willis over the
'phone last night to ascertain, if I properly right, whether
the publication had a real basis in fact.
Being assured that
it had, I today prepared a statement for the newspapers in
which I challenge the right of the Board to do what is suggested
and coment on the reason assigned by the Star for the mediated
proceeding.
However, aside from my utter distaste for news-
paper disputation, I am otherwise dissuaded from public Cliscussion of the matter just at this moment.
You have been so consistently courteous and cordial
to me, my dear Mr. Delano, and so considerate also, that it
pains mo to have to disagree racncally with any view that you
express concerning the administration of the Federal Reserve
System.
Yet, the very fact that I have felt so strongly
drawn to you and have been so confidently impressed by your
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-2-
earnest devotion to the work of the Reserve hoard, prompts me
to write very plainly with respect k) the committee report
which you have done me the kindness to transmit.
I was among the few meillbers of the house Banking. and
Currency Committee who hoped that the Reserve Board Organization Committee would start the system with the minimum number
of regional banks.
I was among the very few memeers of
either branch of Congress who felt that there was much exaggeration of the real peril in iir.
arburg's 'piping" system
which received such scant consideration; so ghat I say now
may not be related to any preconceived prejudice against a
reasonable concentration of reserves or liking for a large
number of reserve banks.
I simply question outright the
poser of the Federal Reserve Board to reduce the namber of
banks and, apart from every other consideration, I think such
action would be a usurpation of authority for which no defense
can be found in the text of the act itself and I know it would
he a perversion of the intent of those who drafted the bill and
managed the legislation.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
The currency bill, as originally drawn, contained
no roferonce to tho cuestion of abolishinJ7 roe
rvo bank8
be:yond that involved in the parap7rT)h rel“tin to
the char tor
life of a bank., which could be terminated only by
act of .on.
gross or by TorfoitRre for violation of law.
This was held
by most of uo to be sixffieiont.
the Gommittee
OD
aut there iaere memberv of
bitterly opposed to the centralization of
rezerve
an. o fearful of control by a few banks, in
subjection to "siloclal intorects, that an amendment was
made hich
provided that -no roderal Ro8orve District uhall
be abolished
Pcdoral :reserve Bhre: &awed 07,COPt 11P0/
Por., the locr4tion of
*.n..•••.•••.•M
00.•
•Yn•el.••••••Ia.n.vr..I.••••••••..
1
the application prf three-fourths of the member
banks of such
.listrfist.' In vain some of es pointed out that
this 17ac in
conflict with the "charter-life" provision
of the bill: those
fearful of a system of few banki3 prevailed
in the House Committee.
But the
enate Committee, notIng the conflict.
oliminaWI the amendnant cited; t.v.nd the House
conforee on disagreeing
votes, of which I was one of tao, concurre
d in the rilteration,
for the resxon indicted.
Thus we fmve the Federal leeervc
Board authority to "create now divt
rictc." di etinctly noelifying
the torm by immodiatel7 nd clearly
indicutin4,. that the modus
wax; to ho by multiplication,
not to exceed twelve in all.- To
"create doesn't mean to "destroy'
.
Jo dietinctlz7 did not ,7ive,
even by implication, nor
Intend to give, the Board power
to reduce
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-4--
the number of banks first created.
There is :lot, in my belief,
a vcstige of sanction in the act for aay different
Cortuini;i there is no warrant of authority to 'abolish- districts
in the power conferred on the 3oal-d to "readjust" dictrict lines.
headjustmcIA of linos cannot mean entinctIon of distric.t, nor
.
can the po'.7e*: to 'reviev,." upon appeal, the wo rk of the Oru.aization Comitto3 in 1.)catiu,.. retlerve banlcc''bo ret.4conbLy interpreted into authol:.ily to "abolish" banks.
.
o Luch interpreta-
tion of the phrw2c, standir4,7- alone, would be tenable: read in con.nection rith Section 4, exT):.
-esely rok.erving to Congrees alone the
right to dius3l-70 banks, such interpret.Ltion, as it
is iwoossible
VOCQ8
to me,
But this otrained construction of the phrase, if
over ldmissul)1c, could not be a- plied now without coAing in plain
p
and sharp conflict with the charter-life provision or 'ale net or
without involving the Pedern1
Eution.
eserve Systen in disastrous liti-
Euch action to be regarded, in way sense, a 'raview" of
the work of the 3rge..41zation Committee as to chartering banks,
slLould have been taken (1) before the Secretary of the Treaeury,
as required by the act itself, "officially annoanced the establishment of a Pedoral :.eserve EFInk" in a specified district and (2)
before the bank proposed to be abolished had been, as provided by
the law, "authorized ky the pomptroller of the Currency to commence
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-5-
b4siness under the
ovisions of this act."
But, as 1 have e3.id, it aas
L.tendea that these
terms should hear any such coasteuction aa that which 1 fear
your Committee placed on them, albeit you do uot explicitly say
upon what sanction of the law the red3ral Reserve Board would
rely for the extraordinary action proposed.
I am not a lawyer
nor an adapt LI the interpretation of law; bat I do know what the
proponents of the Federal Reserve Act and the managers of the
legislation intended to write on the statute book.
Moreover, assuminc that yoa have the poor, I find
,
myself unable to agree rith your Committee's alT
.
;ament for the
proposed action, and I totally dissent from the printed reason
ascribed to tho Board for its contemplated abolition of certain
reserve banks.
Congress did not act carelessly nor in ignor-
ance in fixing the maximum number of reserve banks.
I am writ-
ing hastily at my hotel, --here documents arc not availaule; but
in the archives of 1117.- comittee-room is abundant evidence
of
the painstkin7 care with which expert compilations were applied
to tills gveFltion, And not one of the erle,ing reserve banks falls
one dollar wider the computation of probable resources made by
our actuaries, so there has been no decentralization of reserves
beyond that which Congress deliberato17 sanctioned.
Of course I
do not know with what evidence your Committee can
fortify its
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
suggestion that Congress did wrong in authorizinE, and the
Organization Committee ia establishing, twelve reserve banks;
but I cannot imagine that it relates to laok of resources, because
the chief officer of one of the reserve tanks pro-posed to be
abolished has recommended to the Board that it shall include in
its suggestions to Con(3ress an amendment to the Federal Reserve
Act 4utholiling a .,.eturn to klehlber lic.nLe of 41, ;
;ercent of the
normally t,v0.14ble capital subocrib d, thus rica.1y reducind
the capital resources of tile banks!
Yurtneruore, it is. in the
power of the Board to make the resources of strong banks available
to aid weaker ban]:s in ttle of stref.
It is a complete, not v
fragmentary
cannot think, either, that ,;our evidence ro-tes to
the reason given in the :,tshinaton
tar for the abolition of
certain banks, to the effect that "four of the banks 1o:A money
for the quarto- enaing Leptember 30."
:
You know and I know that
some of the administrators of Federal iZeserve ,;anks have not
tried to earn expenz,es.
olite the contrary, they have tried not
to earn expenses; to my knowledge they have intrigued to this
end.
And this to me is not astonishing, for a member of the Board
and of your Oomit-tsee, our mutual f21ond Yr. 1:arturg, has publicly
proclaimed that he would have been "ashamed of these banks" had
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-7
-
they earfied their exrenses
.
7:hile I do not agree with -r.
Warburg as to the ecoilomics of thi
I an cneerfuily willing
to concede that there was noth
ing sinis*6er in nis declarat
ion; but
there are those 1ho will misu
,
nde:estund his rehh;.rk and ascribe
it
to a desire to wreck the Pederal
Leerve Systew and build upon
its ruins hi eagerly desired central
bank of bunks. And if the
Feral Reserve Board, either thr
ouh usurpation of power or by
exercise of authority which the Federal
Heoerve Act may be
thought to confer, should at this time
try to Lbolish certain
Reserve Banks because all the banks
have not earned expenses,
Mr. Warburg's avowed wish that they
shall not be s•elf-sustaining
wi'l be plausibly imputed to him and to
the loc;.ra as undis31;tised
hostility to the System and part of a sche
me to discrcdit it.
And, unhappily, this belief would be acce
ntuated by the incontestable fact that the Board itself, tinder the
persistent leadership of Yr. Thrburg, has failed to put into
operation mandatory
provisions of the Federal Reserve Act which
were intended to
enable the Federal Reserve Banks to earn expe
nses, and which no
member of the Board., I must assume, will deny
would enable these
Banks to earn expenses. It is my deliberate
judgment that the
action proposed by ycur Committee, if taken at
this time, would
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
arouse a spirit oi ferment and of bitter resentment in the
country, especiaily in the large sections affected, which would
speedily be reflected in action by Congress.
I have frankly admonished Mr. Tarburg in the kindliest
spirit of sincere friendship that his conception of the Federal
Reerve
ystem as a purely
emergenW institution is wholly
forein to the view of the aCiainirion which recommended
and the Congress that byouuht
he wAula into being.
It was
never intendcd by anyboc1;; who had any effective 1:ar.; in tLe incel,tien and passage ef thiz, legislative act that theLe banks
should be practically moribund for nine out of eveiT ten years of
their exiLtence and only be put into action to "save a situation"
or to retrieve a financial disaster.
If we want a syctem of that kind, we can return to the
hybrid Vreland-Lldrich scheme, which would eLable uo to abolioli
the Federal
eerve Loard, a
well a
Cle federal i:eservc
and conduct the enterprise irow a corner bureau of 1,Lle
building.
:colutiry
I lave supposed that in the Federal aeserve Act we
had instituted a great and vital banking system, not werely to
correct or cure periodical financial debauches, not
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
indeed, to aid the bankin
community alone; but to G.;iire vision
and scope and security to convierce and to amplify the opportunities, as well as to increase the capabilities of our industrial life at home and among foreign nations.
I am not willing
yet to think that I have misconceived the thing.
I have written ten times more than I purposed to says
Mr. Delano, when I started to acknowledge the courtesy of
your note; and, what is worse, have written with my own hand,
which is distinix4y against my physician's advice.
But I cannot
conclude without taking the very great liberty to sucgest that
you should long and carefully consider tne astounding intimation of your Committee tnat the Pederai Reserve .4stem, which
at the very weakest period of its existence --- in its infanc,
so to speak --- has withstood the shock and upheaval of the
greatest war in the history of the earth, will, in its growth
and strength, oe gravely endangered when the readjustments of
peace ensue.
'.42o wu this is startling.
cast of deiicienc
I believe such a lore-
seriously made public b
the 1ederai ileserve
Board would alarm the country to tne point of panic, and do it
instantly.
I believe it would put a check to enterprise and
a rein upon endeavor that would result in immediate doubt „tnti
ultimate disaster.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I do not at all participate in your fears.
-10--
I think we have , great bnking system, which will continue
to :prove itself in larger measure as those who administer it
give it a fair challee and uperate it yit:a confidence.
you want to do this, and I could with for you no
I
mow
Teater distinc-
c
tion, nor for our ocountr-y any uoater blessing, than would be
involved in the actual achievement.
T hope to be al2le to have this letter tewritten
before I lcave for New YOrk londv morning and to subscribe
myelf, :,1th cordial rer7c.rds,
Faithfully yours,
(Si3med) Carter Glass.
Hon. F. A. Delano,
Federal Reserve Board,
V:Ihington, D. C.
C OP Y_
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
TCE Q.
_a. A. C. 11=1
Washington, October 30, 1915.
DelELno:
Dow;
A4
SC.i
6t6
eLpoot to leavo on LIL;nay nuon lor Rev Te.1-1 in order to '..fttO
1
m, I .;z. 1;Titina theca) lines to you oc that, upo, your
,
citi;.,
a.11 thJ facto beforc, you whil you
riotulu on Tu!),;.6.y, ycu 1:4
vaat to - put tho fital toucha
r
;.,up, ose you
nn the corszitt
re-
port.
Er. Millor vfmt through tha report
r1t I noted on your copy the
various chanzes which he euo.c!az;ted and handed the saml to De La Mater,
askik; him to have n clean copy rely for you -rhen you returned.
.
,
ez:poct to F zt Dr. Miller'.; chanzes for the 1r7.et throe pages on Lon4ay
morning, mid, ma the time nly be short, I have lone some little work
on prge 8 and giva you hannfith a rodraft o2 the sRme, hopini; that
may be able to get Er. Willerlz auz;ge3tionu amboaiel before askinz De.
La Mater to finally rtr.type it for you.
jitixct th..zt I Aave tri'd to 14-
I hia7u nJt aoat Auoh to thi
thu iti4tricta a littlu
Vj .24; ;rat tie arsaxent.
.
itnt you V7à
.hi...
La
it =re 11:LlItt31y.
I htvre
.
.
ei to 2or=lAt3 t7 1.air arzulae; t
,
it on a e3parat2 ahtlet mAr- led IA:zunlmnt-Minnvapulis".
argument ft:: Utansvciis, I Icre)t
I think -;fa can nake
whataar it is aivixitIJ
1,!sc.iotias an
In Itancr:olit,
sizint to
our chalivs.
xuch argumeJtativs natter 1.1t3 tese
Aifficulty ia thst if '.1e ;at in Is,
-ht to put it in in ean case, :71.nd
Ar:Almsr.t for :M.4. clua-21, :73 ow7.
if we tio that I think we zubject our2e1v,.la to attacks more readily than
by Eimply
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ivLi
our deciflion ani ka.spin
our rea7iox; fcv ourselves.
(2)
You will rime4ber that we deci
our couasel'sa Opinion.
d to jo 7,he a re thin: •,hn ;ubliahing
It nn, hovever, w611 be that the table that
,
you preparea, 3hoy/1.N; tna coLp.-trative insign1ficanc6 of the pelaral Reaarve
i0L.0
LAArieta, /o1111 be excGllent
Ava tha hit effeet xf it Ionia
it would h.
4
I thin-
trial,
Amply appenled a
c tablo.
I havd adda,t a pararaiih after the St. LOtliii iscription, statini;
this point vhy vs ILI riot conbine New Orloc.ns
.
I bel:i.Avn thrit thr.t
KaA
plaor tin
,
St, Lcuie Ltn:1
ill hav,7 ft
Wect 4 n
.
our Kansas friandF;
/ ivobp .furt;hernora lietateJ a iln•asreph Tenich you vial
r.prko‘l “Fne,&
sep:aata
titt the FIW4li realize
branchsa; tht ti
in
on c;
tich I h-re enrc.ard thc thoue„L';
,
thnt it hno net flit, porer of enta'tlisW.rN'
ponlr is voJoo in 1.ifk reera ReLerve B7,m!:c, but
tiwt it has no c.o.,
Anyz3 Ai_ act upon the cuLLer;tion, an
.;ot Yno 0,
Ladicatr_ld in a wry
ii
have
forn that, of courao, if they lid not, 170
mi3ht change the feriral Reserve Bank4.
I think that somethin:, to this
ei;oct out to Os sail; otnarlise, some reople will rF:i3a the point
that
3a4 no right at •all to lrrogate for ouraelvem the power of open-
ing czanche:4.
1 leave it to you 'hether or not to insert tt para3raph
kinu at the en-A or oefora you racapitul- -te the reaeona.
:
louxe,1 at the Connecticut appeal, anA finl thlt only the .)anks
weat
QI the
Connecticut fiiver hwa appilea
btt:r..;.:1,3 our
to ptep-a's
be to
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
i.etigg
tni thi3 oaaif;.
pit o
and Ibel avs that
I have a,:.zed Er. Willi&
thr, :1r; district. so that
;
partioul-r hv: we deecribe the
in our 'port.
1.3
:17rt
-.14x
roeton, baTore lou 13ft you Itadt a p:Lat whi..;h I t1
'talent r.atl. %T111131 T
evr:%t t
is, that Alto in B43tor. 01 ltlal
tho Plderal R1AJ:Ie 7;11k ?tatli
toLtoi arw.tment; V4at
)ano Lvret3V tnaLL
thl Flieral R$'Z3r72 3y:itam iz to
r4111.3t tIle mentor !milts
roe% fm/nUtion
smaller IrAnkll
ixto tA
3X-
th,a
a!:11 .,articularly the
Ar!, ex7;ected to crystalize, the stronger wa =As our
New Tcrk Bo.nk the FAroager will it ba ia counterbIlmloInz the power of
the fay very 11..ze bank3 in New York, We mizht ftlao make tho
it that,
unler the ori7,ine.1 iivizion tato 12 districtq, Nev Torklo rolz.tive ‘
4
)clqar
as conard A.th thl! other districts i
no lmrivr th in it wouli b3rier
,
the new axrmngoment wirla if we combined Now York
Boston.
go mGt-
Phrtt 77e may clIfl.:!e with ra4pect to tho tro altorntiva :1-!1,n
tor ,
- 1 or
2 - I think it :1.4 n.iviu,1*,:f1 to maks the ca4e a:43 otrong, an possible.
Very truly yours,
(Sign6,f,) Paul ::. Warburg.
Rrn. F. /!. relralo,
ITic:
,-Governcr.
Etc.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-8.n1 rr;tirtinz-
AtlntL
5a
branch.
The gow
Brarohit
ti&rihcrc-6vJr, J. ba, nllottoi to
m
WtrylFe "ne
wp-ttrn pirt of lqt Virriric hare tan', allotts4 tc
.4re1y.
,7,1 4, rn-c4tS,M5,00n,rari
0
tt
¶t
'my ot. dit-triet with t cit
1
to cortiw vith it tha
1rt - 1111 incliqm the Ftntlf of 77v.s.ip;-, Pri;
,
rakes a 1tr14
cf
in T2e1rt+ ef
The ChiTo rif-frict is onlouvi De
o!i
dad
thou.
91
ef it iz
izr.-
7chic:h
sattlei,
ilTortsinee to UtT Toe, end )t.Tvin: a clTita cf t17,540,0CC.
E3CVL.
,
4
in
Th: cc,.11mit-
tee 411:7;ectq tt.e• -Tetercl. pleerve Bank , Rinneapolii3 to continue aa a
t
branch oni 1
;71i!ru, th-t, rla :1;1h, it wil, be in a eIronger position to
verve it3 territory th.7in
an imie:Imnient inrotitution
20,
17-30i; t, f1,17ar7,:. of the 'limber ban%9 of it
listrict.
rsk41.76az•e.lt J)
The St. Louis Diltrict is ellnreed oy o;NbrAoing tAe Koasas City District -in tho oclpton c7 th
Statet of liyonin3 ana Nabratlka; that is,
- he weotcrn ado of Miouri, the States of Kansas and Coloraao ani
of 0:clahona ,f.ad Now Maxico.
The centvai portion of Ken;- aky „old wou-,;hsrn
,
Indima .re aubtractel from thiA iiitrict.
Klnolt doubled, Iltvia3: a cnpitril of
of irportnnes.
artz.
Tiet :iotriet, 7._Fs a r:.01a,
-
,102,0CC and rankin; fifth it, p, int
,
Hereto:aro, both thi St. Louis an
Kansas City Pe4e.ia1
.
Reserve Banks have, been week ones, -knd, for reasons alreaAy expl!Aned,
thi3 sectio3 of th, comtvy TO:11 be heti:sr sorvsi by one atron3 bank
than
two of tomparttive inAgnificancs. sr11-,„Ank oft. Louis as a ban%in3 cen-
tnr (ocntral reeerreiliy heretofore) tastiri53
A
AffTrent tresutint„
Moreover, Mi, ,;ouri is the only St:its AVY havin-: two Ps13ral Reserve
;
cities,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(-8a)
bl.t one cf ths. coLpt,ling reev5 ior uritini, the Lanhex District vi± tkmt
of !t. remit; ib t11.
:
LIQrts;Itoo ci 1,t(!lari. hg :or M.trlot 10 the cAvwtett of
bein inclvde in
ILArict
Luttrury ;:o1nt.
.
Lany rec;ectf;, v'ould
.
Tt cwIlit to be :1- 1.t1: thrA ;Cr
tvvl rrlf„IrrO,
tc
'7:1(,1/ to D1ttri4t 0.
.
:
t. a.othr Diztricta 1C
a..1
clsifAicn v!culd
.0t. LiL
,
in IntnIn7 toitthr two =;7:tre..:_=r7 jliztrictc;(
le.via
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
t%rx
L11.!, tht Itv
ti 11
rItt7 an1 )11.1*Dti
ma'AW
ditT CI.leanc)
iatrict: Athout stbtreT,1.1ry
Arguit
a
Thl Minaenolis ailtriot, in nom1).1
hlring vro2 rrtr
,
the 7tnr, it wcule prol)obly b
tt1f. By rmrgin7, th
7
orleA ,41tor=t5.cily
porio:%,
on
vill have a good d.riplani
tot, 4uriag the remining I?;,rt of
,
ifficult for the !anneal-Jolla &ak to
two aintricta, the reaource
of Di3trict
for Diotrict 9 fAxrinz the crop
AvrinF
rirPtinisr of the year, the We Zunda
(if niqtrict 9 nicht find 07.z1oymrit in tilt, broajar field of op :in
thc Chicago rixtriot.
P M. W.
.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
"tad
ThQ connittse
11:Ink3th
that tlie Act conf*rs upon the reder21 Relerve
„oer to itatal)lish Lrnch,14 lni that, for ths carryin
out of
th! Be- r'1 Till, t!Irroforl, love to rely upon the cooperation
thia
Of h'nn Fe:,,r;a Rea6rvm Bnk. YcAr conmittoo has no loubt that the soundnoz3 of the plsn will corrsnd iteelf to the judgvant of th;) iirectora of
Felerza Re';orve Bq.71;cr; 73..11 the more a3 thm citiem now sugi;ested for
lifficult, in choosin%
brralchoc nre of mch importRnce ns to ranler it ,
:
,
thl Ftdeml nor?erv14 eit7, to ':5.70 prefl rmnce to ona as aiain3t ,mother.
,,
At this strip lt!,ge, the proFent cke.i7rotion of these Feral Resorve cities cer;not be coneidmrod ns 71 final one.
in chocoiag Iv'twon St. Louis ,?knd Kansa' City, Richmond and Atlanta,
and particuiarly betwecn Clevolani and Cincinnati an
Dallas and, Lew Or-
leans, t?v) Bori will ultiLl:Atel7 bo i;uidel only by actual oxlierience to
be gainel iron
;
furthlr zlevolopm.mt of the iqztelu and the future 1- ;rowth
-r1J activitieo of each section.
10-30-15.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
O. 1:1IDLER
•
-;07
f
r.(
t
June 18, 1915.
hemo for
Et, Warburv
.
in re Cnkiteland f.urplu$ of member PAnks in
District 11.
Capital and surplus of ail mewber banks us shgrn
Z'96,152,5T2:.56
report of June 1, 1915, (figures furnished by
Division of Audit and Examination)
Capital and surplus of member bunks which are to be
transferred July 1, 1915, to District 10, (as
given on pages 89 and 90, F. R. bulletin, June)
Capital and surplus of remaining banks,
f:90,157,6E16.55
Capital and surplus of certain Louisiana member tanks
3,62 500.
)
as per list attached
Capital and surplus of member lonks which would he
.?.(36,4nr)
J166.56
left in District 11 after transfer of the
Louisiana member banks abovementioned.
Subscribed capital of Federal itescrve Pank of !Alias
4-5,371,500.
as of June 1, 1915.
Reduction to be made July 1, 1915, by transfer of
353,6V2.33
Oklahoma member banks to District 10 (approximate)
Resulting capital
Reduction which would result from tranefer of the
5,511,607.62
221 550.
Louisiana member banks in question (approximate)
Remaining capital
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
t5 290 257.62
001/111.1•10••••••••••P Ag••••••••••••111•11•11.••••••
-
•
OFFIC:A
FILE NO.
C. MILLER
s
:rune 16, 1915.
-mc for -r. :arburjr:
in re Cqpitml
411..
SurJluzL i':
District 12.
Capital and Surplus of all member banks as shown
on report of :;1111b 1, 1915, (Div.Aud'Lt e Exam.)
:,rd "ur-Ani of member banks to be transferred
July 1, 1915, to Dist,rict IU, (!Jullotin, June),
Capital and narpluo of remaininL; member IN:mks
Capital nnd 3urp1us of Louisiana moralJrx bunks
as por attached it
Capital and surplus of member blv which would
re7lain in District 11 after trrinsfur of
I.oatzaaati me. nber ban1i*3
,
..;95.316,889.56
5 ,4 873
"
89,3%2,016.56
3 692 SOO
434 6,e vl e rr
)
al 0.. ••••••••• ••••••••••••••••
,
Capitol of Federal nescrve Rank of Dallas, as of
Jwar, 1, 1. ;15, (subscribed)
:
Reduction to be made July I, 1915, by transfor of
Gklahom member banks to Difltrict 10
Bpi-moo
!oduction which would result from transfer of the
iwa mcmber banks liott:d,
Belanoe.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
"i59J 69'' 38
:5,53.1,807.62
221 55C.
)
5 ''
00 257 "'
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
cr7 ma.
ILLER
-72
FILE NO.
—
UELORANDUM
June 2, 1915.
Qr. Millnr suggeflts the cmcuring
and prnsorving of such dr;tn froal every ponniblo sourcn ns will have bering upon the
gonern1 2rob1e
uf
or roaistricting.
orloral 12ervr: listrLcting
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
OFFICE OF MR. A. C. MILLER
FILE
i4ay 20, 1915.
Villiam Ingle,
Chairmnn of the Board and 'Federal eserve
Tederal Reserve Y!ank of i4chmond,
'qchtaonle
Dear
r. Ingle:
relay to your letter of the lath concerning .
the aro\
cedure to "oe folloTqd in Aekingth.s transfr of l'yler and letsel
-
•
frovt the rifth to th.,
hns b.sem delayed by My ee.veral
7e& , Reserve Piotrict,
,r1 1
311C4
el9,
0
prooeflure outlired le roir- 1(1'.:,tp , I think
-ments.
il
flier; Tashington.
The
rswer the rIquire...
you have perfect2C the -3cteils of the plan, Nnd tefore
:)uttinw it into operAtIol, it Clu Id le 1 1;:%ittd to th,, redcral
,,
Leserve Tkmrd fer itm a?proval.
)l-k vut
E4M4
It iv t%o el!..74ro of the - 01rd to
more or lost uriform plen that will be e.pplf.ceble to
conditio, s in all thc7; lietriots, tine in soe came ths pr1.0,
.
11
prevents morf! difficulty than in yours.
1 1,a1ieve it viii be the
opinion of the board thut the trensferp should not becode erff!ctive
until July lst, as any quentions of accrued profit or losr ctan ue
;ore easily adjusted at that date, ,lhich is the end of a fiecal
hulf year.
-hn onalesurer arn returned herevith as requested.
Very truly yours.
A. C. :0;i1Cdta.Zit
_
t••
DISTRICT NO 10
0FF
Aink
F
(" 'i.. L, C.
12
k
DIRECTORS:
OFFICE
J. Z. MILLER,JR•,%
FEDERAL RESERVE AGENT
ASA E. RAMSAY,
DEPUTY FEDERAL RESERVE AdT
CHAS. M.SAWYER
GOVERNOR
JEROME THRALLS
SEC.-CASHIER
FEDERAL RESERVE BANK
KANSAS CITY,31ISSOURI
W.J. BAILEY, ATCHISON. KANS.
C. E. BURNHAM,NORFOLK, NEB.
T. C. BYRNE.OHAmA,NEB.
GORDON JONES,DENVER.COLO.
R.H. MALONE, DENVER, COLO.
M. L. McC LU R E, KANSAS CITY. MO.
J. Z. MILLER,JR.. KANSAS CITY, Mo.
A. E.RAMSAY, KANSAS CITY. Mo.
L. A. WILSON, Et. RENO. ONL.A.
Misty 20, 1915.
honorable W. P. G. Harding,
Member, Federal Reserve Board,
Washington, D. C.
My dear Mr: Harding:
In re applicatiun of banks in Coal
and Johnston Ccuntios, Oklahoma, to
be transferred to the Dallas distr1et4
71tion of yesterday, I am now writing you
In lino with our convers,
concerning the banks in these counties.
In eoal Jaunty there arc four national banks and five state banks
The national banks are as follawss
Tupelo,
Coalgate,
Lehigh,
capital & eurrlus
Farmers National Bank,
028,000
Firnt National Bank,
36,000
Merchants National Bank,
25,000
Lehigh National Bank,
25,000
In Johnston County there are six national banks and eight State
banks. The national banks arogas follows:
11111 Crook,
Milburn,
Tishominno,
viapanudka,
First National Bank,
First National Bank,
Farmers National Bank,
First National Bank,
Tishomingo Nati_nal Bank,
First National Bank,
00,000
27,500
33,000
310,000
30,000
30,000
The 21r:A :National ,;ank of Milburn and the Tishomingo Rational Bank
of Tishomingo bolong, in whole or in part, to Lr. B. -. ("Buck") McKinney,
Who Is, as you know, a director of the Federal Reserve Bank of Dallas.
This boars out the suggestion of an important banker in Oklahoma to the
effect that this new movemnt on the part of the banks in Coal eld Johnston Counties, more than likely, was ins-Dired by McKinney, who, doubtless,
is anxious to have as many as possible of his Oklahoma banking friends
mnmbers of the Federal Reserve Bank with which he is associated. 1.0 understand UcKinney has nine banks, all of which are in the Dallas district, except the two above mentioned.
It seems to us but reasonable that inasmuch as these banks were parties to the petition praying to be transferred from the Dallas district
to the Kansas City district and that their prayer was granted, it is too
soon for these countieo to file an application for transfer to the very
district from which they were so anxious to be transferred.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-2..
It further seems to us that it would nrove a dancerous precddent for the Federal Reserve Board to seriously consider the application of as small a section of country as two counties, favor.
able action upon which would stimulate a flood of applications
time of banks located in border counties of the varfrom timid, to
ious districts asking, for trivial reasons, to be transferred to
other districts.
Yours truly,
Federal Reserve Agent.
•
OfFiCE OF
A. C. MILLM
FILE NO. ____Z- (> 27
Jr'
221
STATEMENT FOR THE PRESS:
Ilay 4, 1915.
The Federal Reserve Board today nasscd the following resolution
regarding redistricting appeals:
BE IT RESOLVED:
That the recommendations of the respective com-
mittees be adopted and approved, and that the petitions of the banks
in sc17.thorn Oklahohm, northern New Jersey, Tyler and Wetzel Counties,
West Virginia, be granted; and,
BE IT ALSO RESOLVED,
That the petition of the banks of Wyoming
and No-oraska be denied; and,
BE IT FURTHER RESOLVED,
That action on other pending petitions be
deferred until further experience in the actual operation of the several
districts, especially in the light of the now clearing system which is
about to go into effect, and of the extent to which State banks take
membership in the Federal Reserve System, shall have provided the Board
with the necessary data for a conclusion, it being the opinion of the
Board that action on petitions relating to changes in cities designated
as the location of Federal Reserve banks should be deferred until the
Board shall have reached a conclusion fron experience as to any further
readjustzients in the boundaries of the several districts, or in tho
number of districts, which may be desirable in the operation and
developent of the Federal Reserve System,
The vr''!7n on the resolution was unanimous, Secretary McAdoo who
was not present, asking to bo recorded in favor of it .
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
S
4111
DISTRICT NO. 10
DIRECTORS:
OFFICERS:
J. Z. MILLER. JR.,
FLOERA4 RESERVVGENT
ASA E. RAMSAY,
DT.DUTY FEDERAL RESERVE AGT
CHAS. M. SAWYER
GOVERNOR
JEROME THRALLS
SEC.- CASHIER
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
EDEUAL RESERVE BANK
KANSAS CITY,MISSOURI
W. J. BAILEY, ATCHISON, KANS.
C. E. BURNHAM,NoRFoLK, NEB.
T. C. BYRN E.OMAHA, NEB.
GORDON JONES,DENVER,COLO.
R.H. MALONE, DENVER, COLO.
M. L.McCLURE,ISAIVSAS CITY, Mo.
J. Z. MILLER,J, KANSAS CITY, M.
A. E. RAM SAY, KANSAS CITY, MO.
L. A. wiLSON, EL RENO,OKLA.
otBAti
OFFICE OF MR. A, C. MILLER
A5EEEFIg
FILE NO.
7
/
%Sulk
May 4, 191E).
Doctor Adolph C. Miller,
;lember, Federal Reserve Board,
Washington, D. C.
My dear Doctor Miller:•
I am enclosing herein carbon copy of communication
I am tody addressing Governor Hamlin in re the decisions
of the Board in the Neeraska-Wyoming and the Oklahoma
appeal cases.
Yours truly,
Federal Reserve Agent.
•
DISTRICT NO. 10
DIRECTORS:
OFFICERS:
J. Z. MILLER,JR.,
FEDERAN,RESERV(INGENT
ASA E.RAM SAY,
DEPUTY FEDERAL RESERVE AdT
CHAS. M. SAWYER
GOVERNOR
JEROME THRALLS
SEC -CASHIER
FEDERAL RESERVE 11L-tiV[C
ITAISTSAS CITY;3:11SSOURI
W.J. BAILEY. ATcuison, KANS.
C. E. BURNHAM,NoRFOLK, NEB.
T. C. BYRN E.OMAHA, NEB.
GORDON JONES.DeNveR,CoLo
R. H. MALONE, DENVER, COLO.
M. L.McCLURE.KANsAs Cury, Mo.
J. Z. M ILLER. JR., KANSAS CITY, MO.
A. E. RAMSAY, KANSAS Curv, Mo.
L. A. WILSON, EL RENO,OKLA.
Sty 4, 1915.
Honorable Charles S. Hamlin,
cioverner, Federal !Reserve Board,
'1,ashinLton, D. C.
My dear Governor Herain:
We are just in receipt of two telegram from Secretary Willis,
one advising that the Board has refused petition of Nebraska-Wyoming bas for transfer to Chicago district; the other conveying the
information that the petition of Oklahoma banks for transfer to Kansas City district has been granted, effective July let.
Eacn of these telegram conveys to us very pleasinL; infortion.
First, because we are clad to retain our esteemed members in rebraska-yoning; and, second, we are delichted to welcoe into District
No. 10 'Ma new nalibershin from Oklahorna.
,sk, one of our directors,
Burnham, of Nerfollc, nobr-7
C.
is in Kansas City at present serving on our Executive Connittee, and
he expresses it as his judgment that the Board having finally rendered decision in the Nebratka-7;yoming appeal, whatever antaconism has
heretofore existed will completely disappear, and we will be accorded
the Warty cooperation of tne banks of that State.
7,e are positive thvt we will be able to render meet satisfactory
service to our new Oklahoma members, and are confident ye will be
accorded the utmost loyalty and cooperation by them.
While thanks for a judicial decision are rarely expressed, yet,
in thit instance, we trust you will accent the expression of our deep
appreciation of the favorable decisions which have just been rendered
by your Board.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
With assurances of hiLh regard, I an,
Respectfully,
Federal Reserve
OFFICERS:
J. Z. MILLEP,JR.,4
FEDERAL RESERVE AGENT
ASA E. RAMSAY.
DEPUTY FEDERAL Rt5ERVE AdT
CHAS. M. SAWYER
GOVERNOR
JEROME THR,ALLS
6EC.- CASHIER
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
DISTRICT NO. 10
DIRECTORS:
FEDERAL BESERVE BANK
KANSAS CITY,MISSOURI
W.J. BAILEY, ATCHISON, KANS.
C. E. BURNHAM,NoRroLK, NES
T. C. BYRN E,ONIAHA, NEB.
GORDON JONES.DENVER.COLO.
R.H. MALONE. DENVER, COLO.
M. L M.CLURE. KANSAS Cry, Mo.
J. Z. MILLER, JR.. KANSAS CITY, M.
A. E. RAMSAY, KANSAS CITY, NO
L. A. WILSON, EL RENO. OKLA.
1
40iE BA N
OFFICE OF MR. A. C. MILLER
FILE NO.
aa......•••••••••••••••••••••••••••••
April 3q, 1915.
Doctor Adolph C. Miller,
Member, Federal Reserve Board,
Washington, D. C.
My dear Doctor Biller:
Just as a matter of informatoti, I am enclosing herein
to Governor Hamlin to-
carbon copy ofletter I
day, bearing upon th.ithern Oklahornaituation.
Yours truly,
Federal Reserve Agent.
DISTRICT
NO. 10
OFFICERS:
411
DIRECTORS:
J. Z. M I LLE R , J R
FEDERALRESERVEAGENT
ASA E. RAMSAY,
DEPUTY FEDERAL RESERVE AGT
CHAS.M SAWYER
GOVERNOR
JEROME THRALLS
-CASHIER
SEC.
EDEILLUA RESERVE BANK
KANSAS CITY,:‘IISSOURI
1
` A,IEAMI
W. J. BAILEY. ATCHISON. KANS.
C. E BURNHAM.NoRFoLK, NEB
T. C. BYRNE.OMAHA NER.
GORDON JONES. DENVER.COLO.
R H. MALONE. DENVER, COLO.
M L M.CLURE. KANSAS C.
mo.
J. Z. MILLER. Jo.. KANSAS CITY. MO
A E. RAMS AY. KANSAS CITY, MO.
L A.WILSON. EL RENO. OKLA.
Iro‘
'
April 30, 1915.
Honorable Charles S. Hamlin,
Governor, Federal Reserve Board,
tiiashinL,ton, D. C.
My de-a. Governor Hamlin:
In re application of banks in southern Oklahoma
to be transferred to the Kansas City district:
The anticipation that your Board will soon take up for consideration and decision the application of the banks in southern Oklahcja to be transferred from the
Dallas district to the Kansas City district nrommts this letter.
As you are aware, the Federal Reserve Bank of Kansas City has taken no active
part in this movement, as we do not think it would be hood form for us to be reaching out for any part of our neiLhbor's territory; but we do want your Board to know
that should you decide to trnnsfer the banks in that territory to this district, it
will be perfectly agreeable to us and we would receive them with open arms.
Knowing the Texas territory as I do and that it is altogether a borrowing district, I cannot help but think that the transfer of the southern Oklahoma banks to
the ifrisas City district wouldd be a relief to the Dallas district; whereas, the Kansas City district contains a larLe area of rich territory that will never be borrowers, and the capital and reserves from the banks in such territory contributed to
this district enables it to amply tnke care of the entire State of Oklahoma, which
is a borrowthy territory and will be for many years.
Moreover, from the information we get by lettomand through personal contact
with bankers south of the lino, with the exception of four or five counties bordering on Texas, we are convinced the unanimous choice is Kansas City. In this connection, when the ti.:e comes for State banks to join the System, such banks in this
territory would willingly attach themselves to Kansas City, whereas, they never will
go to Dallas.
B. Harrison, Secretary of the
‘e are just in receipt of a letter from Mr.
lamenting the fact th:t many of the southern Oklahoma
Oklahoma Bankers Association,
bankers, who had expected to visit you at Muakocee and present their appeal to be
transferred to the Kansas City district in person were prevented from being present
on account of high water in the Canadian River demoralizing train service. Mr. Harrison states that about forty bankers did succeed in getting to :Tuskoree, -ind that
many others ;ired tii r asons for their absence, and expressed regret at not being
able to meet you and voice their great desire to be in the Kansas City district.
Mr. Harrison closed his letter aith these words: "I knaw that re are right, and I
believe that where one is in the right, he has reasons to hope that he zill win."
You understand, Governor Hamlin, that the above is for your information.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours truly,
Federal Reserve .gent.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I
OFFICE OF I. A.
FILE NO.
MILLER
FEDERAL RESERVE BOARD
LIELIORAIIDUL. •
At a
eeting of the Federal 73eserve
Board, held on Friday, April 23rd, it'::as
informally agreed that the aoeals from
the decision of the Reserve Ba:ak Organization Com:Attee sould be made a special
order of the Board for the week of May 3rd.
1altc,
(
Assistant Secretary.
Honorable Adolph C. Miler,
Federal Reserve Board.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4
-/
OFFICE OF
FILE NO.
R. A. C. _AILLER
FEDERAL RESERVE BOARD
i.:ILLE11.
Larch 4, 1915.
Jlt a meeting of the 2edera1
eserve Board
on ?hursday, Larch 4th it was voted that the
ouestion of the apeal of Weitzel and 2yler
Counties,
Va. be referl-ed to yourself and
1.:r. Hardin; with the request for a report at as
early a date as possible.
I attach hereto a stenographic copy of the
testimony in the hearing relating to this matter.
Secretary.
OFFICE 4IPMR. A. C. MILLER
FILE NO.
REPORT OF COMMITTEE APPOINTED TO CONSIDER THE PETITION OF THE
MEMBER BANKS OF WETZEL AND TYLER COUNTIES, WEST VIRGINIA.
The undersigned committee, to which was referred the petition
of the member banks of Wetzel and Tyler Counties, West Virginia, for the
transfer
or
these counties from the Fifth :Federal Reserve District to the
petition, beg
Fourth iederal Reserve District, after consideration of the
made and that
leave to recommend that the transfer therein requested be
of the Fourth
Wetzel and Tyler Counties be included within the boundaries
Federal
eserve Oistrict.
Your committee is of the opinion that such transfer would be
greatly conducive to the convenience of the banks involved; first, because
of their nearness to Cleveland; second, because of the much greater ease
and cheapness of communication by rail, telegraph and telephone, with
Cleveland; third, because the business interests and commercial connections
of the of the banks in these counties are mainly with the cities and towns
in the Fourth Federal Reserve District.
Respectfully submitted,
..t's.41.1?EliA149
Committee.
March 6, 1915.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
.:ashington, D. Co
Governor ::cCord had conference wiGh b&ni:ers of Clarlmville and
Sprincfield 2ennes3ee they have agreed to withdraw their petition
to be transferred to St. Louis district iirovided they have right
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Go renew petition within two years from now if they so desire this
,
!Iff e7,7
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
OF MR. A. C. MILLER
13.A.LTP,.
F.I.ZERAL
FILE NO.
.
11
4
la 4.
2T. LOUI
Jahuary 2Cth, 1:15.
Fon. C. . rarnlln, Governor,
77edoral Reserve Boar!,
'Ashington, D. C.
Dela. Governor
.,eserve .3an.- of
ri"he ioard of Zirectors of the -edoral ,
;15, therewill
t. :Joule has boon advised that or. 17ebruary 17th, 1S.
come up for a bearing before the ':;eart! the petition of the Counti7a
.obertson, of Tennessee, for transfer
of ....tewart, :r.ontgovery and the •',.tla,nts. istrict to the ,.t. Louis ":istrict.
from
77:e adjaceilt counties to the north, in :entuc;cy, are now
tkE Astrict ::o. C and, together with these three counties
rart
a
lowr ab the "31ac% 7ob.7.1ceo
in the ,lante. Iletrict, form what is ;aPatch". The demands for money to carry this crop are rather peculiar, and those three counties eaite naturally do not 15Am to be
,
,
separated from the adjacent colentios, ---hoee nee is are 2.7107.71 by the
Listrict and can be eaeily supplied by thie
Thee three petitioninc counties doubtless feel that they are rather
far from Atlanta, and believe that their interests would bo boet
Tobacco ratch" divIded.
served by rot having the
The Board of rireetors of the 1Weral .71eserve Ban of
14ouis has instructed the Chairman of the Board and the Governor
of this ban'e to say to the reder%1 Reserve 3eard tLat it would Le
. 1.cie.eort to receive these countiee into T letrict o, C, and to exof these three counties, is
elnin that It '.rnows ta.ei peculiar nee
able to ;mot them, :1.110 that it loos not believe it will disturb the
equilibrium of either the Atlanta 'listrict or the :3. Louis 7.istriet
If they are included within tho Unite of :21strict No. C.
spoctfully,
:en s
Liartin,
Uhai man o f the 7-,oard
:lona .ells,
Governor.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
/‘/
/ )
/
;;
FEDERAL RESERVE BOARD
Llemorandula for the Board.
On request of Pederal Reserve Agent Wellborn,
Atlanta, the hearinL. on:.
Stewart, :Jontgo :lery, and Robertson, C)unties, Tennessee, (Atlanta
to St. Louis Districts.)
has been postponed by the Board from 2ebr:tary
1
17th to 2ebraary 25th.
Janaary 25, 1915.
rr.
OFFIClill OF MR, L C. MILLER
FILE
NEW JERSEY BANKERS ASSOCIATION
BANKING AND CURRENCY COMMITTEE
P. 0. BOX 589
NEWARK, NEW JERSEY
WALTER M. VAN DEUSEN. NEWARK, CHAIRMAN
ROBERT D. FOOTE. MORRISTOWN
BLOOMFIELD H. MINCH. BRIDGETON
HENRY G. PARKER. NEW BRUNSWICK
EDWARD C. STOKES. TRENTON
Sept. 25, L
Federal ii.eserve Board,
Washington, D. C.
Gentlemen:
We beg to transmit herewithr, petition duly signed
by one hundred and twenty three member banks in Northern New
Jersey, asking that the northern Tart of New Jersey be transferred from Federal Reserve District number 3, (Philadelphia)
to Federal Reserve District number 2, (New York).
amount to
The aggregate capital and surplus of these banks
31.,226,427. Their deposits to :1156,456,000.
Nine banks in 'Northern New Jersey with a capital
and surplus of ,'!'1,177,500, and with deposits of ":5,310,000,
have not signed the petition. We append herewith a list of
the banks not signing, and their reasons therefor.
Farmers Rational 73ank, Allentown, N. J., located
in the Southern corner of konmouth County, and somewhat
neL/er Philadelphia then New York City.
, Belvidere National Bank, Belvidere, N. J. This
town is in the extreme Western part of the State, and has
direct train service to Philadelphia, and is the only town
in Warren County which does not have direct train se/vice
to New York City.
Funterdon County National Bank, Flemington, N. J.
"It is immaterial to is whether we are in the Philadelphia
Reserve District or the New York eserve District. "le are
within 50 miles of both cities, and it makes no particular
difference to us one.way or the other."
Union Notional Bank, Frenchtown, N. J.,
on the Delaware aiver, in the Western pert of the
Train service to Philadelphia is more direct than
York.
located
':.)tt.te.
to New
Lambertville National Bank, Lambertville, N. J.,
located about one-half way between New York City and Philadelphia, it is immaterial to them which district they are
in.
lianasquan National Bank, Iancsquan, N. J., located
in the lower part of Yonmouth County, about eoually distant
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
2from Ilew York City and Philadelphia. 'Men the vote was taken
by the organization Committee they voted in favor of Philadelphia.
First National Bank, Milford, N. J., located on the
Delaware River with more direct service to Philadelphia than
to 14ew York City.
Second National Bank, Phillipsburg, N. J., located
on the Delaware River in the extreme Western part of the State
somewhat more convenient to Philadelphia.
National Bank of North Hudson, West Hoboken, Y. ti •
They say they would much prefer to be affiliated with the
New York District, but fear signing a petition would embarrass your Honorable body.
We also transmit herewith twenty copies of a brief
setting forth our reasons for desiring to have the change made,
and are accompanying it with copies of a map of New Jersey
showing the division line which we suggest.
We would appreciate your consideration of our petition at your convenience, and request an opportunity to be
leerd orally in the matter.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Respectfully yours,
Banking and Currency Committee
New Jersey Bankers Association
OF MR. A.
FILE NO.
PRESTOI4 C. WEST
SOLICITOR
DEPARTMENT OF THE INTERIOR
OFFICE OF THE SOLICITOR
WASHINGTON
September 14, 1914.
My dear 7r. -iller:
enclosing me regulations
I have yours of 12th instanti
.
governing procedure in the matter of changes of boundaries
of districts of Federal Reserve banks.
Pursuant to your
suggestion, I am enclosing it to my friends in Oklahoma.
Many thanks for your prompt attention to the matter.
Sincerely and cordially yours,
Hon. A. C. Miller,
Care, Federal Reserve Board,
7ashington, D. C.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
C. hump
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Zcptemtvr
r.treoton C. West,
Sblicitor, Departw.ent of the interior,
inghington,
C.
Nati Mr. iest:
I qm sendinp, you a statemelit of tho pro4eC,ur3 to 1.4: :elloved
in regard to petitions for chlAnges in tie boundaries of the dititricts
of tIvl -Codemi 'eleservo Bunks.
You will underOsnd, of course, the
necessity for n regular procedure to be followed by ail applic.- ,.La
in buch cases and 1 suggee4 that you traignci-t, *Lilo oncloaea
to your friends in Oklahooa.
'cry cordiall; yLur2,
A. C. Mier
•
PRESTON C. WEST
SOLICITOR
DEPARTME.NT OF THE INTERIOR
OFFICE OF THE SOLICITOR
WASHINGTON
September 11, 1914.
Hon. Adolph C. Miller,
rember, Federal Reserve Board,
.ashington, D. C.
My dear rr.
Prior to the organization of the Banking Board, I had a
letter from a friend at home in behalf of the people of Haskell
County, Oklahoma, urging me to do what I could to have that county
put in the Kansas City division, district, or region (I do not
just now recall what is the correct technical term) instead of
being attached to Dallas.
In support thereof it was urged that
in order to go to Dallas they would have to go either to ruskogee
or to 2ort Smith, and that in fact ruskogee was much nearer and
more convenient than any other point (it being the county seat
of Haskell County), Stigler being
only 40 miles from Muskogee,
whereas it is nearly 70 miles by rail to Fort Smith and more than
200 miles to Dallas by the nearest and most direct railroad route.
I am addressing you somewlat informally in regard to this matter
in order to request that
you advise me what it will be necessary
for these people to do so as to get the matter properly before the
Board.
I personally know the facts in regard to the situation, and
as I am keenly interested in the welfare of these people would be
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Mr. Miller.
and
glad to appear before the Board at any time, if they wish,
give them the benefit of any information in my possession.
Trusting that you are finding your new duties congenial and
assuring you that your genial personality is very much missed in
this Department, I am,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Very cordially yours,
GUM BROTHERS COMPANY
REAL ESTATE MORTGAGE LOANS
June 8,1214.
FRED. S. Gum,PRESIDENT.
LESTER B.Gu m, VICE PRESIDENT.
JOHN L. HILL, SECY-TREAS.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
306-11 STATE NATIONAL BANK BUILDING
OKLAHOMA CITY,OK LA.
Oklahoma City Clearing House,
City.
IN THE MATTER OF PLACING SOUTHERN
OKLAHOMA IN THE KANSAS CITY RESERVE
DISTRICT.
Gentlemen:
The real estate farm and city mortgage
loan business of southern Oklahoma,covering that
portion of the state south of the Canadian River
to the Texas line, is handled almost entirely by
companies located either in Oklahoma City or
points north and east. The amount of this mortgage
loan business which is handled from Texas or other
southern points is insignificant. Only one firm
or company in Texas is transacting any farm
mortgage or real estate loan business anywhere
in Oklahoma, and that is the U.S. Bond & Mortgage
Co. of Dallas. This company probably handled
$250,000.00 per year in loans in the state out of
a total aggregate of twelve to fifteen million
dollars loaned annually on real estate in Oklahoma
by eastern companies and investors.
The firms which do a general real estate
mortgage loan business in southern Oklahoma are
located as follows:
Pearson& & Taft, Chicago, Ill.
Deming Investment Co., Oswego, Kans.
Waddell Investment Co., Kansas City.
Maxwell Investment Co., Kansas City.
Close Bros. & Co., Chicago, Ill.
New Milford Securities Co., New Milford,Conn.
Edward E. Holmes, Kansas City.
Willard P. Holmes, "
if
Murrell & Smith,
Pioneer Mortgage Co., Topeka, Kans.
Inter-State Mortgage Trust Co., Parsons,Kans.
L.W. Clapp, Wichita, Kans.
Holmes & Hibbard, Muskogee, Okla.
Conservative Investment Co., Shawnee, Okla.
Jefferson Trust Co., McAlester, Okla.
W.S. Hicks Investment Co.; Oklahoma City.
Atkinson,Tarren & Henley Co., "
Thorne Bros.,
GUM BROTHERS COMPANY
REAL ESTATE MORTGAGE LOANS
FREE). S. GurA,IDRESIDENT.
LESTER B.Gu m. VICE PRESIDENT.
JOHN L. HILL, SECY-TREAS
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
306-11 STATE NATIONAL BANK BUILDING
OKLAHOMA CITY,OK LA.
Okla.City.C.H. -
American Investment Co., City.
Conservative Investment Co., El Reno,Okla.
Pittsburg Mortgage Investment Co.,
Pittsburg, Kans.
Equitable Farm Mortgage Co.Oklahoma City.
Van Evera,Robinson & Ayers,
Finerty Investment Co.,
Oklahoma Farm Mortgage Co.
U.S. Bond & Mortgage Co., Dallas, Texas.
Gum Brothers Corpany, Oklahoma City.
The above list gives the name of every
company doing a general real estate loan business
in southern Oklahoma, and as above stated the proportion of the business handled by Texas or southern
firms or companies would not exceed 3% to 4% of the
aggregate amount of business handled.
The real estate firms loaning money on
city property in Oklahoma are,with the exception
of the U.S. Bond & Yortcage Co. of Dallas, entirely
unanimous in the desire that the State of Oklahoma
shall not be divided in the matter of Reserve Districts, but shall all be placed together in the
same district. The future development of southern
Oklahoma and of the entire state as well, is
involved in this question. The entire trend and
natural flow of business, and especially all real
estate loans from southern Oklahoma, has been to
the north and east, and the wants of the entire
state have been supplied by northern and eastern
investing firms and companies, who are intimately
acquainted with the field and have brought eastern
investors in touch with it.
In connection with financing the real
estate loan business of southern Oklahoma, as well
as the entire state, practically no money is furnished
by Dallas or southern banks. Many hundreds of thousands
of dollars are advanced almost continually by Oklahoma
City and Kansas City banks.
From our knowledge
and experience of the business in the state based
on an active volume of business of more than seven
million dollars, we have found that the banks of
•
GUM BROTHERS COMPANY
REAL ESTATE MORTGAGE LOANS
306-II STATE NATIONAL BANK BUILDING
OKLAHOMA CITY,OK LA.
FRED. S. Gum,PRESIDENT.
LESTER B.Gu m, VICE PRESIDENT.
JOHN L. HILL, SECY-TREAS.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Oila.City C.H.-
43.
take care of
Texas have all they can do to
that is has
Texas firms and business, and
Kansas City
been necessary at all times to go to
Oklahoma mortgage loan
when money was needed by
firms to assist in financing the business.
If communications will be addressed to
any of the firms mentioned or to any other source
having knowledge of the facts, their replies will
be found to substantially corrOorate the statements
we submit.
Yours truly,
FSG-GM
PRESIDENT.
OKLAHOMA NA IONAL STOCK YARDS CO.
OFFICE OF
VICE PIIESIDENT
Stock Yards Station
Oklahoma City, Okla.,
May 21, 1914.
Mr. J. W. Chenoweth,
V-Pres., American National Bank,
Oklahoma City, Okla.
Dear Sir:
Looking into the proposition of the southern
boundry of the Federal Reserve Bank District affecting
Oklahoma City, we wish to say that in our opinion the
present outline is wrong, for various reasons.
Some four years ago the present packing houses
and stock yards, with its Junction Railway, were constructed
at an approsimate expense of eight million dollars. During
the past three years and seven months that we have been in
operation we have handled approximately sixty-three million
dollars worth of live stock business. A very great percentage of this business originated in Texas and southern Oklahoma, which shows that the general trend of the business
was north and east.
This last statement has been proven to us conclusively time and time again in our efforts to divert
business from northern Oklahoma to Oklahoma City, in which
we are, in the main, unsuccessful, the business moving to
Wichita, Kansas City and St. Louis.
should
have a
worked
uphill
We practically have no business with Dallas, and
dislike very much to see anything done that would
tendency to cripple the business which we have all
so hard to develop, and which in itself has been an
proposition.
Yours respec .ully
#la
•
J751:AP
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BERT F.IRBY,
R ICHARD T. HARRISS,
*ICE-PRESIDENT.
PRESIDENT.
BAYLIS E.HARR!
SECRETARY
5
ALDEN H. VOSE,
TREASURER
HARRISS -IRBY COTTON COMPANY
GINS LOCATED AT
SAYRE, DOXEY, ELK CITY, FOSS,WATONGA. WEATHERFORD,
GEARY, MANGUM, OKLAHOMA CITY, CARTER, EAKLY,
COLONY, BRIDGEPORT. HYDRO, HAMMON,
WILLOW AND HERRING, OKLAHOMA.
CABLE ADDRESS
"liAR BY"
CODES-
SHEPPERSONA78-131
MEYERS 37-39
.
WOHLERS GEN L. 1901
Okla h-Jma City, Okla., May 20, 1914.
Oklah ,Dira City Clearing house,.
City,
Gent lemon ,
Replying to yi2p_r_sineryi beg to a ta te that we
•.,
do not finance at or c le af' th xo ugh Dallas, Texas, any
cot to n bought by us in Oklabkpra
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Respectfully,
HARRISS-IRSY COTTON
,2
•
E.0 TENISON, VICE-PRESIDENT.
C. R. RU DDY,Vice.-PAE.si DENT.
J. HOWARD ARDREN,CASHIER.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
J.B.WILSON,CHAIRmAN
R.N. STEWART,PRE.siDE
'"7
FOUNDED 1873.
The City National Bank
CAPITAL 8. SURPLUS TWO MILLION DOLLARS
D A LLA S ,TEX AS
S.
2o,1914.
Mr. J.M. Browning, Cashier,
City National Bank,
Duncan, Okla.
Dear Ur. Browning:
We have your's of the 18th in
reference to collection facilities.
We have no adequate facilities_for
ku1linq_pk1ahoma,p4iii WERIT7Tg:M§TIOTear_previous
Oklahoma endorsemqntp 4 ioiu.s; but in order to get
aiainTioa- with you, we will undertake to par all
your checks on Texas, provided you give us a balance
to justify.
If this proposition appeals to you,
you can begin sending us business at your pleasure.
Very truly yours,
01111"
A0
JDG.gh
HOWARD P. MAY, ASST.CASHIER.
LANG WHARTON,Assy.CAswere
J. D. GILLESPIE,Assy.CAsNIER
ashler.
•
•
ROYAL A.FERRIS, PRESIDENT.
C.C.SLAUGHTER,VicE PRES.
E.M.REARDON,VICE PRES.
E.J.GANNON,Vtct PRES.
JOHN N.SI MPSON ,VICE PRES.
A.V.LANE,Vi.E PRES.
NATHAN ADAMS CASHIER.
G.H RiTTMAN,AssT.CAs.,ER.
H.H.SMITH,Assr.CASHIER.
R.E.GAHAGAN, Ass-r.CAsHIER.
F.H.BLANKENSHIP,Assr CASHIER
E.S.McLAUGHLIN, AUDITOR.
THE A311:1E1ucAINT _EXCHANGE NATIONALBANii
CAPITAL 51,500.000 SURPLUS S1,000.000
LAS13
9TIEXAS
5/20/14
Er. Jake Easton, President,
Citizens National Bank,
Antlers, Okla.
Dear Sir:We have your favor of 18th inst., and are indeed pleased to
note that you contemplate opening an account in our city, and will be
very glad to have you consider our bank in this capacity.
b,e are now
compiling a par list of Oklahoma points, which we will be glad to send
you within a few days.
V;(3 are also working on a proposition whereby
we may be able to offer you par facilities for the entire state, and
if we perfect this we will be glad to give you the benefit of same.
For the present we are able to handle at par your business
on all points except th
and
Texas,)
we enclose herein a list of the Texas points that we can handle without charge.
States of Oklahoma, Arkansas and
The facilities we now offer you, in addition to those
that we expect to acquire shortly, we believe you will find exce-tionally good, and as we allow you 2'; per annum on your daily balances we
believe you will find a concentration of your business with us satisfactory.
In addition to these facilities, it is our policy to extend
accom -oda.tions to our customers to the most liberal extent that is justified by the volume and nature of their account, and veel confident
that you will find our services in these matters
satisfactory.
Yours truly,
ID
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Lisst.Cashier
J. N. DODSON
den/
2d4
-/y
May I4-1914.
CABLE
:DODSON
ADDRESS
Oklahoma City Clearing House Associatior,
")klahcma City, n1r1 -
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Pear Sirs,
In reply to your inquiry as to the percentage
of our business transacted with the banking centers of
Texas, beg to advise, we operate all over the state and bought
* /
last season about 25000 bales of cotton in the southern and
southwestern part of the state alone and have not drawn
a single draft on any Texas banking center.
We have not
had occasion to finance any of our business at Pallas.
Yours
trugdY,
‘6'2,
///
,
• • IS.CC ...LA. CITY
•
•
ANDERSON,CLAYTON &
COTTON.
CAlt
It
AND]: CLAY
ADDIDIS
•
0KI.AII MA CITY, OKLA.
0
May 14th,1914.
• Oklahbma uity Clearing nouse,
Oklahoma uity,Oklahoma.
Deer Sirs:
In tile conduct of our business extending over the entire
State of uklahoma, we must find financial accommodation at or near
the point of concentration of our cotton.
The cotton grown in
Oklahoma is, for the most part, concentrated within a few miles
of its production and when so concentrated must be financed in the
larger centers of Oklahoma. For this reason it would be impracticable
for us to finance any part of our business in Dallas.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours truly,
7
/-1
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,) ;/.. •
J.H.GOR DON.VicE PREsioENT
W.S.AM BROSE,VicE PrzEsioENT
THE
WM.P. FRE EMAN,PREsi DENT
NO.5052
FiR ST
P.P. BREWER,CAstit ER
B.S.BROOKS,Asst CAS HI ER
NATIONAL BANK
CAPITAL $100,000.°-°
SURPLUS *.50,000.°.
WALESTER,OKLAHOMA
Nay 11, 1914
W. B. Harrison, Secy.,
Oklahoma Bankers Assn.,
Oklahoma City, Okla.-,
My dear Harrison:
Replying to your letter
of the 9th inst., desire to stly that we
have an account in Dallas for this reason
alone':
one of our customers here, the Dow
Coal Company, carries a Dallas account and'
gives us checks on it for payrolls.
Dallas,
as you probably know, has a Clearing House
rule which requires their banks to charge
31.00 per $1000•00 on all checks which bear
out-of-state endorsements, unless the outof-state bank is a depositor.
Our balance
never runs over one or two thousand dollars,
as we transfer as soon as possible.
I will be in Oklahoma City Thurdday
morning, as I have to appear before the
Banking Board on that day, and I will then
talk the matter over with you at greater
length.
I wrote Hogan the other day that I
could arrange to go East with him, as I
—
1
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
J. H.GORDON,VicE PRESIDENT
W.S.AM BROSENICE PRESIDENT
THE
WM.P. FREEMAN,PREsiDENT
NO.5052
h it ST
P.P. BREWER.CAsilt ER
B.S.BROOKS.Assr.CASH IER
NATIONAL itkINTK
CAPITAL $ 00.00 0.°-°
0
SURPLUS $50,000.°
NitALESTEIR,OKLAHOMA
60(1/-4contemplated leaving here on the 21st or
22nd of this month.
Very truly,
Cafihier,
THE
ASATNEE NATIONAL ECK
10
)
OF SHAWNEE
H.T. DOUGLAS, PRESIDENT.
J. M.AYDELOTTE,VicE PRESIDENT.
JNO.W.JONES, CASHIER.
B.S. GLASS, AST CASHIER.
CAPITAL
AND
_
SURPLUS $120,00000
SHAWNEE, OKLA.
—r. Vir•
—ay 11,1914.
J. Harris, 6ediy,
c,klahoma Bankers.Asso.,
Oklahoma City, Oklahoma.
Je:r :r. Harrison:ieplying to your letter of 9th instant, I am
not any longer interested in the ioirst ITational Bank of
Ada, as a stockholder and therefore am only able to
press an opinion as to why they carry an account in Dallas.
Our bank in ihawnee carries an account with
Dallas because we find it absolutely necessary for clearing
cotton exchange.
3ometimes we handle :)15,000.00 to )20,000
per day cotton exchange on Dallas, and we cannot pax the
items elsewhere without imposing on good nature, so we must
carry a Dallas account,and they ship us currency against
the items.
I think Ada carries an account in Dallas for
the same reason, as well as the fact, that the stockholders
of the bank, are abs stockholders of the Choctaw Cotton
Oil Company of Ada, and other cotton firms who deal with
Dallas,and find it convenient and profitable to maintain
Dallas is headquarters of all. large
a Dallas account.
cotton operators in this section.
am glad to help you out on this as far as possible, and with best wishes, remain,
Yours very truly,
LTD/A
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
NO. 6230
American National Bank
E. C. MILLION. PRESIDENT
JAME S Mc CONNELL,V,E•PREsT
J. G PUTERBAUGH,Vict•PRr sr.
A. U. THOMAS. CASHIER
S. G. BRYAN. As CASHIER
J. J. KIRKPATRICK, ASST.CASHIER
McAlester,Oklahoma
May 11th, 1914.
hr. W. B. Harrison,
Secretary, 0.B.A.,
Oklahoma, Okla.
Dear Ir. Harrison:Replying to your letter of the 9th inst. regardiag
th3First Dational Bank of Kiowa and the reason for its carrying
an account in Dallas, will say that kr. C. W. Crum, who organized this bank and is the holder of the majority of the stock
in the bank, came from a town only a few miles from Dallas; he
knows the Dallas bankers very well and has an arrangement
wherebyo on account of their acquaintance with him, they extend
him quite a liberal line of credit, and for this reason he
carries a Dallas account.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours truly,
Cashier.
W^" E DWYER ,Vic
T H.DWYER ,
•
ROY C.SMITH,CAsHIER
PRasionrr.
•
N°8203
id.2 -1
THE CHICKASHANATIONAL IINNII
UNITED STATES DEPOSITORY
(IIIIAsSIL,OIU4S. May 11/14.
Col.W.B.Harrison,Secty.
O.B.A. Oklahoma City,Okla.
Friend Harrison:—
Replying yours reiative to the five banks carrying
accounts in Dalls from Southern aklahoma,and as we are one of themgand
as you want to khow why we carry this account," will say that we have had
a
grain firm here doing business with us for years who ship a great deal
of Bill of Lading stuff to Texas points and they have asked that the
drafts be sent to Texas direct so that there would be no demurrage on the
cars,awaiting the arrival of the draft with Bill of Lading.
We have kept this accunt in Dallps for several years and dont like it,
and recently we have been clearing these items thmaugh our Oklahoma City
corresDondent.This is aboutthe only reason we can give for having the
account in Dallas.' will see you Thursday evening and bring my "Herford
frontmalong as you have requestod,also a pair of white kids formerly
worn by Louis the Fourth lwhich have been hadded down from my Tipperary
ancestors.' got hold of them because the were too large for Louie.
I guess this will be the biggest meeting we have ever had,as the Bankers
are coming from Texas,Missouri land other States in bunches,' understat6
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
YourEOcery truly,
//
l'Ptesident.
la-• IR CO
•
•
Coniinonwetllh National Bank
JOHN W. WRIGHT, PRESIDENT.
W H. GASTON, VICE-PRESIDENT.
R. C. AYRES, VICE -PRESIDENT.
R. P. WOFFORD, CASHIER.
H. L. TE NISON, Ass'r CASHIER.
H. M. HAWDIE, ASS'T CASHIER.
FORREST MATHIS, ASST CAsHIER.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Dalla s,Texa s
Lay 1Gth, 1914.
Mr. William Raymond, Cashier,
Security National Bank,
siklahoma City, Okla.
Dear Sir:—
. e are pleased to acInowledge receipt of your favor
0
of the 8th inst. relative to our terms for handling your account,
and notice that you say on a reasonable average daily balance.
We would be very glad to handle any business that you
might send us and allow you the regular e on your average daily
balance.
We respectfully enclose one of our revised par list,
'and in c ormed-Ucea arisk—to salr_that_7e clpar Sliclah.oma .itauis- through
our St....—LoulAx acl. Kansas nity corrtodpnt,s4 and, consoquentlY,
would hardly be in a p6S1tIon to handle it
-ems on Cklahama 'bearing
prior Cklaho:ga _endorsements. However, you could send them to us
and we will continue'tb handle as long as our Ft. Louis and Kansas
City correspondents will handle for us. Cf course, this, we are
presuming at par. re an handle the balance of the United States
at par with the exception of Arizona, No:it Mexico and California.
Also with the exception of the cities of Spartanburg, S. C.,
Durham, N. C., Greensboro, 11. C., Roxboro, N. ^., Memphis, Tenn.
and Atlanta, Ga.. It seems that these cities mentioned have a
local clearing house agreement whereby they charge on all out of
state endorsements.
Emphasizing our desire to offer you every facility we
are pleased to advise, in consideration of a balan ce that would
justify us in absorbing the cost on cost items, we will handle
at par any items that you might send us, and at the regular interest
period we would analyze your account and should same show a loss
we would expect you to reimburse us to the extent of the loss.
Inasmuch as we are not familiar with the volume that you might send
us and the towns drawn on.
During the active cotton season we will be very glad
to make any Eastern transfers for you at par. At other times we
will assess you the regular market rate, which rarely exceeds 50i
per thousand. However, even in this instance, should the volume
of your account justify us, we might see our way clear to put
you on a par basis the year 'round.
•
•
/2
Commonwealth National Bank
JOHN W. WRIGHT, PRESIDENT.
W. H. GASTON, Vicc-PREsiDENT.
R. C. AYES.VICE - PRESIDE NT.
R. P. WOFFORD, CASHIER.
H. L. TE NISON, Ass CASHIER.
.T
H. M. HARDIE, ASST CASHIER.
FORREST MATHIS, ASST CASHIER.
Dalla s,Texas
May 1Cth, 1914.
f2
1,r. William Raymond, Cashier
)
Assurinc you that the liberal policy we have offered
,
our close co- inactions has always resulted mutully profitable
:
)
and harmonious, we would be glad) indeed, to have you experience the same.
With kindest personal regards, and cordial good wishes)
we beg to remain)
Your' veri truly,
JM-HO.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Transit Manager.
A. L. THUFRMOND. PRES.
J. C. MACKENZIE. CASHIER.
J. PAULJONES. V. PRES.
/2.2.
THE FIRST STATE BANK
NUMBER
1.101
CAPITAL STOCK $15000.00
— f
>s"
C A RT ER OKLA,
May,9th,1914.
Hon.W.B.Narrison,Sec.O.B.A.
Oklahoma City lOkla.
Dear sir:I have been requested to give you an estimate of the amount of
our clearing being done with the Texas
Banks as compared with K.C.
In reply will say we might practically say that we have no business
with the texas banks compared with the Kansas City Banks and the amount done
with Kansas City out of a total done with both places would easily reach
95%.
Hoping that all possible will be done to have this territory placed
In the District with Kansas City I am,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours Very T
•* •
• • $$$$$ • • 111 •••
•
Cashier.
r
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A. L. THURMOND, PRESIDENT
F. E. HERRING,Vtec PpecsioeNT
CHAS M. HOOVER , CASH I c re
B. E. ANDERSON.ASST. CASFNER
Tilt/
crf
p
t rfair
AVNIk
A
11.
,
K .(1-I 0
FOSS,0r LA , , MA
•
May the gth,
1914.
kr.W.B.Harrison,
Oklahoma, Oklahoma.
Dear iar Harrison:
JA.; per request from
Farmers National Bank, Cordell, Oklahoma.
We submit below the amount of cash items
received from Kansas City Mc), and Dallas,
Texas, in the month of April.
Lansas City,
Dallas,
$10621.87
N 0 N X.
Trustint this information will be of
us in the
some benefit to you in getting
Kansas City, Districft, We are,
WE*E, UNI
X-SINel
Form 2559 B
7-E
WESTERN UNION
DAY
TER
THEO. N. VAIL, PRESIDENT
RECEIVED AT lee Huckins Hotel An'z,14 N.Broadway,Oklahoma City ALWAYS
7Cs(SX SX
FILED
946AM
4eq, BLUE
"
1 1.:4
STIGLER OKLA !MY 9 1914
B HARRISON
SECTY OKLAHOMACITY OKLAHOMA
THE MONTH OF APRIL THIS
COMBINED BANKS OF STIGLER FOR
YEAR SHOW ONE HUNDRED ELEVEN
THOUSAND SIX HUNDRED FORTY THREE
DOLLARS THIRTY FOUR CENTS OF
NONE WITH DALLAS REMINING BANKS
BUSINESS WITH KANSASCITY AND ABSOLUTELY
OF HASKELL COUNTY WILL SHOW
APPROXIMATELY SAME STATUS AS STIGLER
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ROBERT
EBOLD
CASHIER
1014A
•
•
J.KARMFIELD, PRESIDENT
J.M.CALLAWA,Y,VICE-PPESIDENT
W.O.CALLAWAY, CASHIER
J.J. Mc CURLEY,AST CASHIER
CAPITAL
,
/
130.000.00
CORDELL. OKLA.
may
9/711,I9I4•
Mr W.B.Harrison, Secy,
Oklahoma City, Oklahoma.
Dear Sir;" As per your telegram " we hand you herewith
adding machine slip of Cash letters received from
Kansas City Banks during the month of April, which_Tou
,
4
will observe totals . 52,728.09. If additional information is desired, write us.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours very truly.
Cashier.
—Are
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
P.C.DINGS.PRESIDENT
J.M .BAIRD.VICE PRESIDENT.
E.E .CHIVERS.CASHiER.
J.M LANFORD . ASST CASHIER.
THE GITAUAN TY STATE lIANK
0
CAPITAL 8, SURPLUS S 60,000. _9
AitlymonE,OrmAIRDIA,
May,
9, 1914.
W. B. Harrison, Sec.,
O. B. A.
Oklahoma, Okla.
Dear Sir:—
Below appears the amounts of the clearings of the
Guaranty State Bank, Ardmore, Okla, for the month of Apri1,1914.
Item
$442,202.74
to and from the north
$ 39,229.83.
Items to and from the South
Yours truly,
CliNresid*,Int,
NO. 6230
American National Bank
E.C.MILLION, PRESIDENT
JAMES Mc CONNELL,Vicc•PwEsr
J. G. PUTER BAUGH,Vict -Ppr.s r
A. U. THOMAS,CASHIER
S. G. BRYAN, Ass,. CASH I E
J. J. KIRKPATRICK, A SST.CASMIER
NlcAlester,Oklahoma
—ay
3,
1914.
W.3.1Tarri9on, 'lecty
Oklahoma Bankers Association,
Oklahoma City, Okla.
Dear 7r. Harrison:As requested in your telegram and in the
.
absence of 7r. Tallion,Prest of the Clearing House Asso., I
give you below the
figures for the
3
ilational Bank here on
their items .sent to K.C. and Texas for the month of April.
Kansas City
Texas
$1,123,223.43
151,791.27
At the present time all of the banks
here clear all of their Texas items through Denison and we
send them a good many items on Oklahoma points that we 7:ould
lould
not attE—ot to clear throurdi Dallas and which they ,
handle for us.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
You-s very truly,
ot
F. M. POTTER, PRE5T
•
•
A
CAPITAL
rHt.
00R3LYCOMPA,0.41,0,TE,
STOCK,
J. W. LAMBRIGHT,
WININGHAM, A 9
C
S'TATE WANK
15.000.°c
)
May o'' 1914.
W.B.Harrisen,2ecy.,
Oklaheria City,Okla.
Dear Sir:We desire to Lgin call your attention to the matter of placing Oklahoma in the Kansas City Regisnul Reserve District. We do all of our business with Kansas City and Oklzhema City and #A# have no occasion to use
Dallas for afir Qf our business. Our clients call for Kansas City exchange
or sse 7astern exchange as practically all the buying is dens ITerth and
East and it is nocesary for us to carry exchange which is payable at
par Lind ne,lix the markets where o .1r customers buy goods. By being placed
in the Dallas district it would force the banks here. te carry an additional account in Dullas as rer'uired by the .7overnment. We will very
much appreciate it if the part of Oklahoma now in the Dallas district
can be chanFed to the Kansas City district.
Very respect 'ully
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
.ashie
Ic2t2,
A
S E AY, PRL,111,N,
J.A. CARLBE RS, CASHIER.
BERT.SANDE RS,ASST. CASHIER.
J C.SIMPSON,V1 - ,
EJIR
-NATIGNACB
NO.6257
ANIK
ARAPAHO.OKLAHOMA.
Tay Pth.1914.
Yr.':*.B.Harrison Secy.,
Okla.Pankers A7s I n.,
Oklahoma City,Okla.
Dear Sir:During the Month of April there was 99.9E per cent
of our out of town checks on Kansas City and .02 per cent of
them on Dallas.We do not have may checks or drafts on Dallas
because there is no Flanks in Slatbhenn Okla. that do business
in that territory.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A. U.. THOMAS, VICE-PRESIDENT.
E. C. MILLION, PRESIDENT.
•
M. E- PARR, CASHIER.
NO. 8994
„,„
•
1011
1r4
CAPITAL, $ 25,000m0
SURPLUS, $ 2,000.00
ATOKA,OKLAHOMA, :ay 0th. 3:1".
Mr. VT . B . Harrison ,3ecy.,
Oklahoma Banker's Association,
Oklahoma
Dear
Sir
City
011ahoma.
•
Acknowledglmg receipt of your telegram will say that
we, the undersigned banks of Atoka, Oklahoma, do no clearing through,
or have any business with the Banks in Dallas, Texas'
The larger bulk
of our business is cleared through Kansas City, Ho.
Sincerely
The American rationa
Oklahoma State Bank,
,
J. ;"
bY(
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
e(,
4i?
Bank,
By
Vice President.
Presl,,e t.
The
Atoka
Sta
Bank,
N95923
NATIONA]:15ANK6vC
("1
1NA1)A I? KO
CAPITAL 425p00
H.T.SMITH,PREt- inENT
s
GEO.W. BE LLAMY7 VICE PR EST.
B.S.DIXON,CAsHirR
ANADARKO,OKLAHOMA
May
8, 1914.
Mr. W. 'F. Harrison, Sec.,
Oklahoma City, Okla.
Dear Sir:
I have your wire of the 8th and in reply submit
t'e following information:. All banks in Anadarko for the
month of April 1914 handled 5366 out-oftown items and out
of this number fifty-two were drawn on Texas points.
Yours truly,
BSD, AG
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Cash i er
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
C.B.CAMPBELL, PRESIDENT
BEN F JOHNSON ,VicE-PREs'T
H.B.JOHNSON , VICEPRES'T
E.B.JOHNSON, VICE -PREST
F. L. S LUS HER , CASHIER
J. E . McNEILL,Ass'T CASHIER
5431
CAPITAL
S 200,000.00 •:
•
• SURPLUS *60,000.00
UNITED STATES DEPOSITORY
CIIIC;IKASITA.,()KLA.
av yt' , 1
J. B. Harrison, Secy.,
Oklahoma Bankers' As'n,
0A.ahona City, Okla.
Dmr Mr. Harrison:Answering your telegram today, asking that the Banks of this place mail
you a combined statement showing the comparative flow of business betwe=n Dallas and Kansas City, beg to state that comparatively q55
of our business goes to Kansas City and the
other
55
to Dallas.
very truly,
C.4-7(
1
c
.II.Irrrrii.
NI, \
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
110
111
NO. 9995.
It. A. GlIAMPLIN, CASITIF:11
L. I). GALLOWAY, ASS'T CASMER
THE FIRST NATIONAL BANK
SENTINEL, OKLAHOMA.
ray 8, 1914.
W. B. Harrison,
Secretary Oklahoma Bankers Association,
Oklahoma City, Oklahoma.
Dear SirWe have checked up our month of April and
find that we averaged about one Texas item per day
coming through our bank.
The rest of our items were
cleared through Kansas City.
This will be your authority
to the Reserve Bank Organization Committee to let them
understrnd to that extent we are dependent upon Kansas City
for our banking arrangements and, also, to show that we have
practically no business at all with Dallas or other Texas
points.
Keep up the fight!
Oklahoma will be greatly
damaged iS ouf district is not included with Kansas City.
Very respectfully yours,
FIRST NAT1Q1 AL BANK,
Cashier.
.
Diet -RAC/EW
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
C.,
1,2:2
•
NO.5620
THE FIRST NATIONAL BANK OFADA
P.A.NORRIS , PRESIDENT
A.G.ADAMS , VICE PREST.6t CASHIER.
F.J.PHILLIPS , VICE PREST.
CAPITAL,SURPLUSAND PROFITSIovER) $80.000.00
ADA.OHLA_HOMA_
May
6, 1914.
Mr. W. B. Harrison, Secretary,
Oklahoma Bankers Association,
Oklahoma City, Oklahoma.
Dear Sir:
•
Your day letter °I this date has been
received and was promptly referred to th2 other
banks in our city.
The Merchants & Pianters Zational ::ank
will probably report direct to you and I give
you the following nercentage as regards the
other bans in Ada.
65%
35%
The Oklahoma State Bank reports that
of their business is transacted within the
Kansas City District and that approximately
is transacted in the Dallas District.
95
of their
The Farmers State Bank reports
the Kansas City and Okla.
business transacted in
in the Dallas District.
City District and
5;-;
Tells institution estimates that approximately:35% of its business is transacted in the
Kansas City District, approximately;D5% in the
Dallas District and that the other 30% is largely
in tne Saint Louis and New York Districts.
Yours truly,
AGA-PMC'President.
NALLOTHOCOTOPEPIAI.
W
HORINE, VICE PRESIDENT.
H
JNO. JOSEPH,VicE PRESIDENT.
JAMES McCONNELL,
PRESIDENT.
CASHIER
403UMTATLELPWLOYOCDA
J.
S
/:.(2.91.
C A s il 1
No. 10170.
TILE' ATt ii COFTNTY NNTIo N
A Li
NINTIC
ebIRECTORS.
JAMES McCONNELL.
GEO A.KILPATRICK
RICHARD HOWARD
J.A SMALLWOOD
LOUIS ROCKETT.
JAS. H.GORDON.
R P.BREWER.
J H HOWARD.
Wm. POWERS
JNO.JOSEPH
W.H.HORINE
H J BUTTERLY.
9 14 QpritiaLomiu.
.4 1
5 8-1914
Mr W.B.Harrison, Secty.
Oklahoma City.
Dear Sir:In answer to your telegram today,will say this bank
received forty seven cash letters from Kansas City during the
month of April,the total amount being $9998.34, we had no. business
twenty five letters
with Dallas at all. The Bank of Red Oak received
from Kansas City totally $3286.44, none from Dallas. The State bank
here would not tell how much they had done with Kansas City but said
they had done no business at all with Dallas.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours truTy,
Cashier.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
411
-otitivatLiii.
N99968
Cfbe )faviti
C
H.F.TOLIVER,PResioENT
C.11. BESSENT,Vict PRESIOLNT
R.W.HUTTO.CASHIER
CORD EL L.0 KLAHO MA
Mr. T.B. Harrison, Secretary
Oklahoma C ity,Ok la.
Dear Sir:
Complying wit your telegram of
have notified all banks in this county f t .e
information you dusive relative to the comparison
of flow of business between Kansas City and Dallas
and requested that they nerd same to you by this
'PM Each one signified thdatr intention of no
doing .There are two other bank hero in Cordell,
viz. The Cordell National and The Slate Lational.
Their report will reach you under separate nover.
The amount of business of The Farmers LEtional
with the 'film places for the month of April are as
follows:
Kansas City,
Dallas
$
14,o6g.66
The above amount as shown for Kansan City
In for checks received as c.sh items, which Wan
all that I suprosee you wanted. Items received as
collections and held, for presentment etre
would
increase the total from Kansas City but woilld not
afeet that shown from Dallas.
Hoping that you are on the "rod" to obtain
an adjustment of this district, I am,with,best
wishes,
7:7
C ashl er
r1/1"
N. S. DARLING, PRESIDENT
—
H. A. WIENS, VICE PRESIDENT
•
H. C. WALLE IZSYE
T,.CASHIER
41
1
No. 608
Tire State Bank of Bessie
Capital and Surplus $11,200.00
Bessie, Okla., Y8 y
t h-19111-
Hon W.B.''arrion. Sec'y
Okla City, Okla.,
v(e herewith hand you amount of items received
though the Kansas City clearing house
Dallas Tex
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
or the month of April 01,095.13
It
It
NONE
vours very truly
N9 5811
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
P.A.JANEWAY,PRESIDENT
W.T.FLINDERBURK,VicE PRES T.
13.H.SQUIRE,CASHIER
C.W. Mc KINNEY, Ass-F . CASHIER
.
•
MINA14IN
eiTm dVIANG UM 0
KIAA. Mr 8, 1914.
Mr. W. B. Harrison, S c.,
Oklahoma City, Okla.
Dear Mr. Harrison:—
As per your wire this P. M. we
have called on all the banks in this city and the
total cash items receivd from Kanas City, Mo.
during the month of April 1914, is 07,464.25
while the total cash items received from Dallas,
Texas by all the banks of this city during the
month of April 1914, is $642.68.
The above figures will give you som- idea
of the business done with K. C. as compared with
that done by us with Dallas, Texas.
You will note that of all the total amount of
cash items received, a little more than 99.70
come
from K. C.
Your wire is someraht indefinite, however
as
we understand it, the above figures are what
you
desire.
Yours truly,
)
Form 2289 B
a
WEtrk
UNI6N
WESTERN UNION
viti RITTER.
NIGH
THEO. N. VAIL, PRESIDENT
Lee Huckins Hotel An'x,14 N. Broadway,Oklahoma City
RECEIVED
4440ASX
HE FILED
7PM
36 NL
A0PNIS
1A
5 EXA
91(0
POTEAU OKLA MAY-8 1914
W B HARRISON
SECTY OKLAHOMA RANKERS ASSN,
COMBINED STATEMENT OF POTEAU BANKS
OKLAHOMA CITY OKLA
SHOW FLOW OF BUSINESS
BETWEEN KANSASCITYAND. DALLAS NINETY
FIVE PERCENT KANSASCITY FIVE
ONLY ONE PERCENT
PERCENT DALLAS OTHER NATIONAL BANKS IN COUNTY SHOW
TO DALLAS
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NATIONAL BANK OF POTEAU
FIRST NATL BANK OF POTEAU
909P
WESTE
Form Z89 B
UNION
DAY
TER
THEO. N. VAIL, PRESIDENT.
RECEIVED AT Lee Huckins Hotel An'z, 14 N. Broadway; Oklahoma City Arp`ittr
28P BF JO FILED405P
52BLUE
5 EX
25'16
SULPHUR OKLA. MAY 8 1914
B HARRISON
SECRETARY 0 B A
NOT ONE OF THE SIX
EACH ONE OF THE SIX
BANKS IN MURRAY COUNTY HAVE AN ACCOUNT IM DALLAS
BANKS HAVE 'A CORRESPONDENT IN KANSASC1TY
EACH BANK STATES DO NOT
NESS WITH
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
OKLAHOLACITY OKLA
HAVE ANY CALL FOR DALLAS
DALLAS ALL OUR BUSINESS FLOWS
EXCHANGE OR ANY BUSI-
TOWARDS KASC1TY
PARK NATIONAL BANK
BY C G WHITE PRESIDENT
416PL
-ERN Elmo. C.0.1,0 ORA
.5*
ir Cirr
C.T. BARRINGER ,PREsIDENT.
BYRON DREW,ACTIVE Vice PRES.
•
•
p
R.
FiAROCD WALLACE,CA
FRED C.CARR,ASST. CASHIER.
No. 10394
NATI MIMI
I
AITAK
OF ARDMORE
8, 1914.
May
Mr. W. B. Harrison, Secretary,
Oklahoma Bankers' Association,
Oklahoma City, Oklahoma.
Dear Sir:
The flow of business of the State National Bank of Ardmore
during the month of April, 1914 is about as follows:
To and from the north
$461,562.28
To and from the south
101,130.80
This information is given you in response to your telegraph-l"
ic tf Wi
afternoon.
The other banks here were notified and we under-
stand that they are mailing their information direct.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours very truly,
‘ 7
(
Vic / re i eat.
NO 5954
FT. CHANDLER, PRESIDENT.
-r.
D. A .5COTT, VICE - PREs
iiiE Fii
snr NATI
()NAL BAN
OF HOBART.
J. B. HI NE5,CASHIER
HOBART,OKLAHOMA, May 8th-14
Mr. W. B. Harrison, Secy,
Oklahoma City, Okla.
Dear sir:
Your telegram of today addressed to the Clearing House was
delivered to us and by the liarty co-operation of all Banks in the
City
am able to give you the following coLparative statement of the flow
of business for the month of April 1914, as between Dallas and Kansas
City.
Name of 'Pank
Drawn on
Dallas
Drawn on
Kane City
First National
437.70
5g016.73
sent to
Dallas
direct
none
City National
206.83
39,135.18
none
94143.06
Far & Mer National
20.42
39,775.78
none
87488.61
Home State
none
15141.16
,
• none
98,839.55
143068.85
;
none
484958.96
Totals
664.95
Sent to
Kane City
direct
20487.74
In connection with the above statement will say there is
Quite a volume of busness that is sent to Oklahoma City and St.Louis
(and not shown in this statement)
from this plactldthe natural trend of which is north and east,
which
could be handled to a good advantage at Kansas City and to disadvanta
ge
through Dallas.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours truly,
0
•
NO.9972
W F TAYLOR PRESIDENT
G. F ANIES.VicE PRESIDENT.
I. L. HULL.CASHiER.
J. A.TAYLOR, Assr CASHIER
THE
NAT-tow pq
CAPI1AL 530,00000
CORDELL,OKLAHOMA.
5/8/14.
W. B. Harrison Sec.,
Oklahoma, Okla.
Dear Sir:
Following is a list of business transacted by this bank
during the month of April 1914, with Kansas City, and Dallas.
Kansas City
Amount of checks and items collected, received from
q46,914.41
Kansas City
Remittances cleared thru K. C.
84.886.62
U31,801.03
Total
DallasNO BUSINESS WHATEVER.
The above shows a comparison of the amount of business done with
Kansas City and Dallas. The month of April is one of the quietest
months. In the busy season the business amounts to five times this
amount, or more. We never have any business with Dallas, as the natural
trend of the business done in this section of the country, is toward
Kansas City. Furthermore WE DO NOT WANT TO BE COMPELLED TO DO
BUSINESS WITH DALLAS BECAUSE IT IS HARD TO FORCE BUSINESS OUT OF ITS
NATURAL COURSE.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Sincerely yours,
Cashier.
2
/6
FRANK JONES, VICE-PRESIDENT
H. A. CONGER, VICE-PRESIDENT
G. H CONNELL, PRESIDENT
111
J. R. PRENTICE, CASHIER
•
J. H. BREWER. ASS'T CASHIER
No. 10244
Tii E FI RsT XVIIONAL IIANK
CAPITAL, $50,000.00
1)ITNC-VN, OKLA.
May 8th. 1914
Yr. W.
Harrison, Secy.
Oklabora City, Okla
Dear Yr. Harrison:Complying with your wire I take please in
furnishing you the following figures of the banks here as
between Kansas City and Dallas or Ft. v'orth (some carryi-g no
accounts in Dallas at all).
Remittances made to Kansas City
Remittances made to Ft. Worth
Draits drawn on Kansas City
Drafts drawn on Ft. Worth
$147,837,72
$38,502.50
$147,545.03
$24,186.01
Trusting this is the desired inbormation and with
best wishes I am,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours truly,
. .1 " 10.C.TOPEKA.
1 . ,
1.1
1
•
N 8 FEAGIN, PRESIDENT.
C E TAYLOR.Vicc PRESIDENT.
G.A MOSELEY, CASHIER.
B.F. SIMMONS,Ass'r CASHIER.
5270
•
HOLDENVILIAE,OKLA. May 8, 1914.
i.r. 7.B-Harrison,
Secy. 0.B.A.,
Oklahoma City, Okla.
Dear Sir;Obedient to your telegrm received this afternoon I have
obt'lined statements from each of the four banks in 11: 1denville
,
showing the flow of business between HoIdenville and Kansas
City,
ro.
as compared with that between Holdenville and Dallas,
Texas. None of the banks here have correspondents in Dallas, but
the First National BaRk ad the State National Ba74k both carry
accounts with the Merchants &I Planters National Bank,Sherman,Texas,
but the volume of business hLmdled through that institution by
us is very small as is shown by the
following statement;-
BUSINESS HANDLED THROUGH KANSAS CITY,MO. DNRING THE MONTH OF
:NVILLE, OKLLHOMA
APRIL,1914 BY THE FOUR BANKS OF HOLD7
The American National Bank
1148,008.31
146,546.19
The First National Bank
The State National Bank
139,982.65
The Farmers State Bank
57,928.44
Total
A92,465.5g—
BUSINESS BABBLED THROUGH DA1LAS, TXIIS (NONE)
BU SINESS HLNDLED THROUGH SHMliAN, TEXAS ON OTHER POINTS IN
TEXAS
2;909.82
••••••••
Tkusting the above conveys the informa iR)n you seek,
I remain
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours res,
tfully
Cashier.
•
JAMES CRAWFORD,VicE PRESIDENT
13.1-1.LOVEMCEPRESIDENT
.WANTLAN D.PRESIDENT
W.M .TOM LIN , CASHIER
F. C.LOVE,AssT C.ASHIER
NO.4756
pllCKASAWNATIONAL
PU1?CELL,OKLA.,
dra.ttt
H
ii
• Arnout of r,-mit
Amour'ff. of re
t t ance
1137,00o.
L;,6o,000.
n Oil
Dallas
065.22
ONE-
Cij
21u,706.71
NOTTE
ten - to Kantiat City in April
u Dalla5
rt-,
iv
April ;124,016. 41
frri
Dallas
The
19 P1-
OF PURCELL
Stir911
0o:flu 111t ci Cap i
Deposit s
u.
2
•
STATEIT 11iOi1
-ft
25.000.00
SURPLUS
CAPITAL $50,000.00
AANK
"
ba:Li6 or PuTell lo V ry rtA.ry lit,:le
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ycar ,in .Cac: very lit t
T
n
Cat:11.1yr
T. A,
- Texas
591+
TILE F,
ST'
UNITED E
'I
7r,
*AN If
TES DEPOSITORY.
SURPLUS f4c PROFITS
$ 00 0
0.00
CAPITAL, STOCK
$100.000.00
DI R ECTORS:
W. H.QUINETTE
CHAIRMAN
• N.A.ROBERTSON,PRESIDENT
W.H. QUIN ETTE,VicE PRESIDENT
AND CHAIRMAN BOARD DIRECTORS
R. E. H U FF, VICE PRESIDENT
GUY C. ROBERTSON, CASHIER
SAM MADDUX, Ass, CASHIER
P. C. MON ROE, Ass,CASHIER
GUY C.ROBERTSON
N. A. ROBERTSON
SAM MA DOUX
R. E.HUFF
AwrON,thilLA.
nay 8, 1914.
Mr. W. B. Harrison, Secty,
Oklahoma Bankers Ass'n,
Oklahoma -ity, Oklahoma.
Dear sir:As requested by your telegram we are enclosing,
herewith, combined statement of all banks in this city
showing comparative flow of business between Kansas City,
lassouri and Dallas, Texas for the month of April, 1911.
Very truly yours,
Enc.l.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
President,
Lawton J1earint House Assin.
7
L22.--/
Comparative statement of business transacted,
by the banks of Lawton, Oklahoma, ivith Kansas City, Missouri
and Dallas, Texas, for the month of April, 1914..
Remittances to Kansas City.....
........
...)797,934.62
Drafts drawn on Kansas Pity.
838,743.21
.lemittandes received from Kansas City
IV/0,347.9G
Co1lection4'received from Kansas. City
1,904.56
Eemittances to Dallas
ta
)
Drafts drawn on Dallas
1 6 ••
iiemittances received from Dallas
uollections received from Dallas
None
None
None
529.38
No bank in Lawton has a 7allas correspondent.
1, Guy C. Robertson, President of the Lawton
Clearinl House Association, hereby certify that the fore,
0
.oinf). is a correct statement of business transacted by the
0
(...)
banks of Lawton with Kansas City, Missouri; also a correct
statement of ,business transacted by the b,...nks. of Lawl;on
with Dallas, Texas.
Lao,Clearin
Atte -1;•
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
By
Secretary
use Ass'n.
LETA L.FLOURNOY,PResT.
TOM D FLOURNOY.CAstitER
DELL ROSINSON,AssTCAsHIER
CAPITAL STOCK $10,000
s t,
DILL, OKLAMay, 8, 1914.
W. B. Harrison, Secetery,
Oklahoma Bankers Assooation„
Oklahoma
City,
Hon. Sir:
Below find a report of our remittances
for month of April, 1914,
To Kansas City
To Dallas
,
.3.4_, .3
0.00
N ONE.
Q
•2 0.1
I,4 6 9.3 8
4 1 0.4 3
7 1 3.2 6
•1 2.Fi•
5 6.0 0
=.-) 4 7.0 4
50 3.0 0
•7 0.3
Total,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9 D.l 1
N ONE.
.Y
4
BANK,
CA511101. MLA,STATE
CHAS.M.CARDER,Ceshie,
A .0 MEANS,Vice Pvesident.
WALTER B STEPHENS,President.
•
•
svrE 13 VN
m
/
1
(
1KA'
86-016
ROCKY', KLAII0M.1.
(oup
WuIcE nutm T.o.vws
Yr. W.B.Harrison, Secty.
Oklahoma City, Okla.
Yy dear Sir:We have just made a little list showing the
amount of business that has been done by our bank through
Kansas City and Dallas Tex, during the past month.
Business through Kansas City as per machine slip
Business through Dallas or other texas points
.1;20.207.65
NONE
Our business relations with Dallas are about the
same as if we were placed in the California District, for
we occasionally have a customer who spends the winter months
#####f#######
on the coast.
We do not want to be placed in any district that
would demoralise our trend of business, and what's more this
little bank as well zl.s many others I know will never voluntarily join any system that will compell them to do so.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours very truly,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NO. 9976
in.
TUE! B chit°, County Niicirni 13art.k_
,
CAPITAL $ 25,000.00
H.A.R U SS ELL,Prtasiore,
0.M.MARS H.CAsHtmoa
W.E.SI M MON DS, A ssr CA5HIER
Sacyre,Okla. IdaY 8th.
,,.13.arrison, Secy.
Oklahoma Bankers Association,
Oklahoma 3ity, Ukla.
Dear Sir;
We have looked up our records for the
month of Aoril and find that our Kansas City business
amount to
10,234-61 and those that might be call d
Dallas business, bath() . he item
;
were not even on
Dallas amounted to ;31o7.06. Now those items sent to
Kansas City none are included that were even in
Oklahoma
as we do not clear Oklahoma items at
Kansas City.
I think the above will rive an idea of
the comoaratiue flew .of business from this section to
the )(Ants in ruestion. There is praotical1,7 no
busine,,3 in this section with Dallas and we are not
onli bein, done a - reat injustice, by dividinF the
tat),
but the service is bound to be irmonvonient and
inefficient.
I certainly hope that we may be placed in
the Kansas Cit
district and the business of this
section allowed to flow in its natural and long
established channel.
four
OASHIER.
0 H THURMOND, PRESIDENT
E K THURMOND. VICE- PRESIDENT
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
C. C. CAE:UNE-6S. ACTIVE VICE PRESIDEN1
•
H.C.GARRETT, CASHIER.
U.C.LONGMIRE,ASS'T CASHIER
THE FIRST STATE
BAAilt
CAPITAL,SURPLUS AND UNDIVIDED PROFITS $35000.
ERICK,OKLA.,
Lay 8,
1914.
Lir. vr.
Harrison, Gecretary,
State Bankers Association,
Oklahotha City, Oklaho;A.
Dear LI'. Harrison:
In reference to this portion of adahoma
being included in the Dallas district of the
National Reserve Banks we beg to state that
the amount of items cleared thru Dallas, Texas
from April lot to this date were NONE, and during this same time we cleared thru Kansas City,
LAssduri cash items aggregating 345,000.00.
This is the principal reason that we would prefer beinp: located in the Kansas City district
of the 14atioaal Reserve Banks.
Yours very truly,
First
pate/18a
Erick, Okla.
,
By
vice President.
Eric
By
e lnk, Erick, Okla.
6 -1J-11C/ Cashier.
3 Asst.
/
CITY NATIONAL ISANIE
CAPITAL $
no,000
Arrus,OKLA.
Etli, 1014
Mr W.D. Harrison,
Oklahoma
Dear
Secty,
City, Okla.
Sir:-
Answerinp: your wire of to day
beg to say that t ,e following businese for
.1April totaled,
Remittances to Kansas City,
IT
cash letters from
A.74.294.54
101.c67.77
Remittances to Ft,Torth
Ch letters
from
11
8068.79
None of our banks here have any Dallas correspondent.
The above transaction
cover the four banks here.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours Very Truly.
City Yational Rank,
/62
E KTHURMOND,PREs-r.
I C THURMOND,VICE PREST
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
C B FINCH,AssTCAsHiER.
J.L.THURMOND,Ass7 CASHIER.
GUY FORD,CAsHIER
•
•
N. 9959
5 8 1914.
to certifythpt the
First iationql Ir1K, byre, OlciPdion
had items on fl-Insas uity amounting
to ,)114,246.00 nnd itc.LF sent to
TeAP F4 Pmounting to :'K2,31.2.68.
,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
/2Z.—/
•
iot)Ai
W. A.WADE,PREsioc NT.
A B.SMYTHE.VicEPREsT
T. L.WADE.CAsHIER
WA.DA RNALL ,Assr.CAsHIER.
3
64clowl
9kArlowl,01d4x.
April 25", 191.4.
Oklahoma Clearing House,
Oklahoma City, Oklahoma.
Gentlemen:The officers and directors of this Bank feel that
it is, in a ir.anner, necessary that we be in a group with Kansas
City, as we have little or no business relations with the Texas
Ilanks. We do not think it is to the interests or the State to be
divided.
Yours voru truly,
q,ef.eK
ed
OD,
C. H. GRIFFITH, PRES,
A.S. GRIFFITH, VICE PRES,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
N9 0,096
011
H. R.GRIFFITH. CASHIER.
E. C.TEAPE, AST.CASHIER.
LONE WOLF, OKLA.
April 22-1914.
L:r. R. . Viunderlick Mgr.,
Clearing House Assn.,
Okla. City, Okla.
Dear Sir :We have your letter of ne 17th inst.,
in rggard to the matter of being changed from the
Dallas to the Kansas City Reserve district.
We
most emphatica]]y do not like the present districting,
piecing us in the Dana:: district and would much rather
prefer to be with Kansas City.
The natural jlow of
our business is, and always has been, toward the north
and not south. We consider it very disadvnntegious, both
to the banks and to the country at large, for southern
Oklahoma to be placed as it is.
Vie have written both Senators Owen and Gore,
and Congressman Ferris, also the the Eeserve Board, protesting against this arrangement and asking that we be
placed with Kansas City.
If there is anything 'further
we can do that will be of service in this matter, will
appreciate it very much if you will let us know.
Very truly,
111
rnIE 1IJNION NATIOXU,BANK_
W.H P. TRUDGEON.President
R.E.LEAVITT.Cashier.
N0.7007.
Pu RCELL,OKLA,
f\pfil 22nd, 1914.
T. P. Gore,
Washington, D. C.
sir:Your lettcr received and we not- with much pleasure,
that you are going to do all in your power,to
have tile
Fedcral 1- e3erve -q)ard rer;aonr,id-r the matt -r of a!isif/!ling a
part of this state to the .)allas District.
In our opinion the division of the state is litt.le
les, than a calamity and prrActictilly
:
every banker in the
state feels a23 we do about it.
Thanking you again for your assurance that you will
leave no stone unturned to brin: *ou'G a antisfactory
adjugtgent of this problem, that
to us, Iarn e
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
T;espectfully
-Alch vital interest
C. M. HAXTON, VICE-PRESIDENT
M. F. PIERCE, PRESiDENT
C. A. FISHER. CASHIER
T. J. HOWE, ASS,' CASHIER
/
No. 103S9
THE FIRST NATIONAL BANK
CAPITAL AND SURPLUS, *27,500.00
GrOTEI30, OKLAHOMA April
Hon
21st 1014.
T. P. Gore U.3.Senator,
Washington
Dear Sir:-
D.C.
As you are aware of the fact that we have been placed
in distriot
11. 2-nown as the Dallas, Telr.as.district, of the fed-
eral reserve Banking System. of which only a part of 0:.lahoma is
included. now :Anater, we fcc,1 that this is an imposition on that
part of Oklahoma which has unfortionatly been thrown into the Dallas District, the trend of business in this part of Oklahoma is
from the Uorth and East.
70
earnestly as:: you to use your infl-
uence to get all Dan:7s in Oklahoma placed in the :Tansas City
District, we scarcely have any business from Texas, and feel that
we belong to Districo 10. known as the Kansas City District,
thanking you in .advance to uso your best efforts to have the line
changed as above described.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours
truly.
President.
•
L.1 . W. Mg NEAL,PRES? DENT
E.J. MURPHY,VicE PRESIDENT
CHAS. W. BREWER,CAsHIER
W.C. SMOOT,ASST.CASHIER
N29985
OKLAHOMA STATE NATIONAL BANK
CLINTON,OKLAHOMA
April 11th, ILL
W. 3. Harrison, Sec::.
Oklahoma City, Okla.
Dear :,1r. Earrison:-Immediately aftor getting the news that
Oklahoma had been divided and that Custer County had been
placed in the Dana?' district, all the Yationr1 Bankers of
this County joined in a wire requestinr that this County be
transfered to the 'Kansas City district, saying that not one
of us had a Dallas, or even a Texas account.
All the banks of the Count;" also wrote the Senators
and Conrressmen as Well t,E,1 the members of the Board at 7ashington stating our position in the matter.
It would not be so bad if we could get a branch at Okla.
City where we could do our business, as that would suit us
perfectly, but to force as to do business with Dallas would be
like pulling a big load up hill all the time, but if we could
use OklLt. City or Kansas City, it would be a down hill pull all
the way, as that is our natural trend of busines.
I enclose the card signed Ets requested, also letters from
Senator Owen, tl_so Thralls of 7— C. which shows we have written
v few letters.
Custer County will f, 01 lchke celebrating if we can get
.
the matter adjusted so that we can call Oldt
, City or Kansas City
..
our home instead of WggWO Dallas.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
With best regards, I am
Yours truly,
°gnu.... um Ayr* CO...4100.10. Cit1
4111
CHAS. LAU E R,VicE PRESIDENT
R. F. ELLINGER,PRESIDENT
C. M. HOLLIDAY,CASHIER
N°10277
71,7, 11'117-0 ra7
\Trio AL
N
-
Njtyp
L. W.
)
f.cl
()-„,\
ANIL
Arril, 10, 1g14,
Prf,..:ddent.
City, 01'1.:
Ic'
Dear Sir
Our bein. pl.aced in the 11th. rede:.r.L1 l',eserve
District with our Reserve D.nk located at IV.11as is most unsatisfactory to us.
The business of this com- unity is almost
alto.f:ether hv,ndled throu11 OklahomL City, n.nsi-„s City iond Sint
Louis.
Our own business connections at those points hR,Ire
ben built ur,
by several years of effort eLnd we feel that they
_ust be In..-4inttined, while Th. 1145 is prir.ctieally unknown to us
,
bxI<in;,,nd co=erciol center and business relations car
only bt ...-3tblished there at
reat inconvenience to us and to
the detriment of our present connections with the other cities
mentioned ,hove.
It
is OUT
ernest desire tht the lines of the
Districts be chaned so that we 2_;:y be included in the
T:,ns--s City District and we hope that such a, concerted protest
will be made z,inst the present arr&nzement as will brinl
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
bout cL re-consideration and a chancce.
59 H-
'AMU:VAAL,
THE
pr
UNITED STATES DEPOSITORY.
SURPLUS eic PROFITS
CaUn'VAL STOCK
520,000.00
1.00.0 0.00
0
N.A.ROBERTSON,PRESIDENT
W.H. QU IN ETTE,VICE PRESIDENT
AND CHAIRMAN BOARD DIRECTORS
R. E. H U FF, VICE PREsIoENT
GUY C. ROB ERTSON, CASHIER
SAM MADDUX, Ass, CASHIER
P. C. MONROE, Ass,CASHIER
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
DIR ECTORS:
W.H.QUINETTE
CHAIRMAN
GUY C.ROBERTSON
N. A. ROBERTSON
SAM MADDUX
R.SNUFF
Awrow,OKLA
April 10„1914.
Mr. W. B. Harrison, Sec'y,
Oklahoma Bankers Ass'n,
Oklahoma City, Oklahoma.
Dear sir:Yo
-ur letter of the7th inst. received
enclosing request to the Federal Reserve Board
to change southern Oklahoma from the Dallas
district to Kansas City.
I have signed same and
am enclosing herewith.
We are going to have resolutions
passed by our Clearing House and also send to the
Federal Reserve Board.
We have wired them and
written them, both as clearing house and as
individual banks and we will now forward resolutions
to them.
Will do everything
possible as long
as there is any hope in getting changed.
Very
M yours
e
)
GCR-G.
Enc.1.
Cashier.
Lr. V.F. Harrison, Secretary,
cklahoma E2nkeni A(3sociation/
Oklahoma City, Okla,
inclucte us in the list as one that protests
the division of OklahoLia into two Federal Reserve Distric.J
f_Lnd most of all we are bitterly opposed to being put in
the District ith Dallas. cur choice is Kansas City as ou
business connnoctions there are very important.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
PAULO V:ILI;v1Y N. T IC: —
•
A.J.SEAY, PRESIDENT
J. 0.SIMP5ON,VIcE PRESIDE,
J.A.CARLSERG, CASHIER.
BERT.SANDE RS,ASST. CASHIER.
tioNActA\
257
„
.
L
ARAPAHO,OKLAHOMA.
April 8, 1914.
Mr. W. P. Harrison, Sec t y.,
Oklahoma Bankers Association,
Oklahoma City, Okla.
My Dear Mr. Harrison:=
It occurs to us that we have hardly been accorded
fair treatment by being placed in the Dallas Reserve District.
We hope and trust that you will kindly render us all possible
support in procuring a change of boundary lines whereby we would
be included in the Kansas City District.
We have no business connections towards the South as our flow
of business is towards the North and the East and these natural
conditions should certainly be taken into consideration and our
entire state should be included in the Kansas City District.
But if for some reason this can not be done we insist that the
Reserve District "boundary lines be altered so as to run on the
west and south boundary lines in place of the north and east
boundary lines of our county which would include our county in
the Kansas City district.
We, the National Bankers of our County, have written our
Senator and Congressman and wired the Organization Committee
to that effect and we hope that a re-arrangement may be had
whereby our entire state may be included in the K. C. District,
but if such action is impossible we at least desire our county
transferred from the Dallas to the Kansas City district.
Please render us all possible assistance, and oblige,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours very respectfully,
shier.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
BRYANT, CASHIER
W. P MAYS. ASST CASH.ER
J. B.WILSON,PRESIDENT.
W. M. G UTH RI E,VICE PRE- -r.
No.8999
THE FIR ST NATIONAL BANK
CAPrriu. AND SIDRPLUS $30.000.°-°
MAYSVILLE,OKLA.
Aril
8, 1914,
Er. W. B. Harri30n, Gecty.,
O. D. A, Colcord Building,
Oklahoma City.
Dear Mr. Harrison:
am signing and return the protest to The Yederal Recirvt
3oord. The more
think of this, the more I am convinced
that it is a serious mistake to have the
State divided, and, especially as it i3 now.
iinety nine per cent of our business is to
the Korth. I hope we may succeed in getting
the state as a whole in the Lanses City
district.
Sincerely and fraternally yours,
THE FIRST NATIO-NAL BANK
N9 5352.
J CARL FINCH,PRESIDENT.
A.J. FINCH, VICE-PRESIDENT
P. E.SCHAUB, CASHIER
E. L. MILN ER, Ass'r CASHIER
WEATHERFOR D,OKLA.
April 8, 1914.
Mr. W. B. Harrison, Secretary, O. B. A.,
Oklahoma City, Okla.
gy Dear Sir:—
I have your favor of the 7th inst. and very much
appreciate your efforts to place this section of Oklahoma,
in the Kansas City District of theRegional Reserve
Banking System.
Herewith the form which you had sent us for signature
and whlch is to the point and should bring good results.
We have written the Federal Reserve Board and today
wired our senators:protesting against the arrangement of
being included in the Dallas district.
Thanking you very much for your interest in this
matter and with best personal wishes, I am
Ver respectfull,y,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
NO. 9976
The? 13ecliticurn. Courtly Nin it-Irt
CAPITAL $ 25,000.00
H.A.R USSELL,Pnesloewr
0 M MAR S
W E,SIM MO 14 DS, ASST C.4,1-1,14
April Bh.l4
Secrevarj,
Oklahoma Lank or
Asso.
Ohlti.Loma City, 01:Th.
Dear .r.Harricon;
properly
I return herein the slip
sined
,A a:ecnested
in
our letter and for the love
j
..Ake if there is an- thin
°set in
on earth Jo can do to
do it.
the 1..amms City district lets
(up to the
I am willinr to sin anythinc'
dis trict as this
pledce)Ir cot in the .,..1.11L-cts City
formed relations
bank as well as many other have
see broken.
)
tfittt the:, aould rather not
ciith
ao let me know.
If t• re is nythinc- I can
Cashier.
It?
•
•
A.J.SEAY, PRESIDENT.
J. D.SI M PSON,VICE PRESIDENT.
J.A. CAR LBERG, CASHIER.
SE RT.SAN DE RS,ASST. CASHIER.
`AM NAL
A
NO.6257
ARAPAHO,OKLAHOMA.
April 7, 1914.
Mr. D. W. Hogan, President,
Farmers National Bank,
Oklahoma City, Okla.
Dear Mr. Hogan:=
Your letter of the 4th inst. has been received
and I beg leave to advise that telegrams and letters have been
sent to the Organization Committee of the Federal Reserve System,
our Senators and Congress men requesting that a change be made
whereby our entire state be included in the Yansas City district.
By a united effort I believe this can be accomplished, but we
must ask and insist on it or they will be almost sure to pass the
matter up and let us suffer the consequences.
(We are in a terrible shape, Mr. Hogan.
/connections with Texas.
We have no business
Of the eight National Banks in our county
I not one has a Dallas or even a Texas account.
Our business runs
towards the north and east, and we wired the Organization Corn.
to that effect.
I consider that we are not treated fair in this
matter.
Hoping that we may be able to procure a change in this
arrangement, I beg to remain,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours very truly,
•
4"811111M
T
14E6,1
THE WESTERN :UNION_ TELEGRAPH COMPANY
INCORPORATED
25,000 OFFICES IN'AMERICA,
20BERT C. CLOWRY,
RECEIVER'S No.
BELVIDERE BROOKS, GENERAL MANAGEB1
TIME FILED
NIGHT LETTER
SEND
CABLE SERVICE TO ALL THE WORLD
PRESIDENT
CHECK
tho following
subject to
the terms en Dank hereof which are hereby agreed to
/
ShOLTACC
Okla. April 4,1914.
Gon. Ronort Lo Ouan,
,CA Senate,
dashinton, D, C.
We feel that the division of Oklahoma plcing
the State in two misery() districts is very detrimental to
U3 as a State md to commercial interests conerally.
de urge that the State :al be placed in'Kansas City
District.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
'6hauneo Natiorvl Bank
National Bank of Co=orce
State National Bank
]recurity Stato Bank
Union State Bank.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
NO 7289
cSCAN NATIONA/ ‘,1
jjANk
j)
CAPITAL & SURPLUS
$ 50.000.00
J.M.ARMSTRONG, PRESIDENT.
W.W.PAYNE.VICE PRESIDENT.
R.J.ALLEN.VicE PRESIDENT.
J. D.WADE,CAsHIER.
C. M. BROWDER,AssT CASHIER.
DUNCAN,OKLAHOMA
April, 13th, 1914.
The Pre3ident;
The 2ederal Reserve Board,
7ashin3ton, D. J.
e see many disadvanta- es of being in the Dallas
s
district, and sincerely appeal to you to place us with
Zansas City. Lo. In a Banking way this part
or
the country
dont know Dallas is on the map, we have alJays had trouble
in clearing thru Dallas and Texas; as you well kno
our
business goes thm Oklahma 3ity logically, and we consider
Kansas City a place to go with all our troubles.
would certainly appreciate it, if you will i) a c
us with Kansas Jiby, and thank you,
2espec
lly,
.2.2
•
N...S64-1.
Flizs•i•
April 11th,
hr. James Chenoweth, Vice President,
American National hank,
Oklahof4a City, Okla.
)
ear Sir;We
lave your valued favor of the 7th inst. and like you
we are very much displeased with having our
tate cut in two parts,
paacing our bank here in the Dallas district.
We are writing to
ot'fi Seantors Gore abd ow,:ns and
will also write to our representatives
and see what can be done
as we do not feel like opening up new acquaintances in Dallas when
all our business here is principally done in Oklahoa City .11d
"ansas 6ity
and we feel like we can be taken care of Niuch better
at hofrie.
. Thanking you very much for advising us and assuring you
that we will do all we can towards having our Ctate held intact, lam,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours very triA.y,
C/
•
Vice
/•
st•,
C. H. GRIFFITH, PRESIDENT
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
E. A. CHAMPLIN, CASHIER
L. D. GALLOWAY, ASS'T CASHIER
410
J. A. HYNDMAN, VICE PRES.
NO. 9996.
THE FIRST NATIONAL BANS
SENTINEL, OKLAHOMA.
ril 0, 1914.
7arxi3on,
LT.
Secretary C. B.
Oklahoma City, Oklahoma.
Der
ParrisunYear favor of Al)rillth at hand, enclosing
recluest to have as 1)1aced in looJeral District :To. Men.
have sicned the sa:ne and ala mailinc it back to yeti today.
We very much appreciate the efforts you are
1.1a;:idc to have us idaced in the federal district zhe're we
belonc.
Keep Ivo the pod work.
ance to you, we will be ,laa t
If we can be of any assistdo so.
Very trul' :tears,
Diet.-PLC!'T:.
/
411111111•111111\.
W. S. SPEARS,PRESIDENT
J. C. MCCAS LAND,VtcE-PREs
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
J. M
•
BROWNING,CAsHiER
W.T. FORE MAN ,VICE-PREs
ASST. CASHIER
D. A. FOWLE
z 2.
8616
0Q0,00
CAPITAL$35,
PROFITS $15,000.00
(86-212)
DUNCAN.OKLA.
1914.
W.R.Harrison, Secy. 0.P._
Oklahoma City, Ohl.
Dear nr. Harrison:
770 most heartily agree with al7 you bave said in
your letters which 17c have roeeivec: regurC,ing the un:ust and
indefencible division of Oklahoma into two of the Peceral
Peeerve Districts.
We Lre fightinE thg ;ame all we can and. 6A-wire to
express our arrr(:ciation of your efforts in the matter.
4e can not afford to be divided and has about as
well try to force a river to flow towards its Ileac", .4o, to
try to chunce the natural and long e5tablis11e6 flow of our
financial affairs.
The bankers and financial reople to ihe north and
east of Us are known to us have Eiacrym Lite:a-0st in us t!nd
alTreciation of our buIness and we do not like to he
attacheC, as a tail to a district that has never liad
more in comon with us and has never L
11;:t1;5ng
ru'eablz' never earl
(10 us any coml.
ra7m the thing v2 hot
S ressible Lnd if we Co not
win we shall merit succes2 anyway.
NO. 6230
I
Zklnerican National Bank
E.C.MILLION, PRESIDENT
JAMES Mc CONNELL,V1 t-PraEsr
J. G PUTERBAUGH,Vic -PRr.sr.
A. U. THOMAS. CASHIE
S.G. BRYAN. Assr Cs pc
J. J KIRKPATRIC1
ST.CASHIER
McAleSter,oidationlit
April 9,1914.
1 -r. W. B. Harrison, Secretary,
Oklahoma Bankers Ass'n,
Oklrthoma
Okla.
Dear Nr. Harrison:
We have your letter of the 7th inst. regarding
the reserve districts and are anxious to do everything
that we can to have the districts changed so that all of
Oklahoma can be placed in Kansas City district.
I enclose
herewith the form which you sent - properly signed.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours truly,
Cashier.
•
N° 7050.
SL.MORLEY.PREsmENT
N.E.TUELL.VICE PRESIDENT
J W.MARTYN.CAsHIER
P. M.WILLIS.AssT.CAsHIER
-‘10oNAL ANk
To6
HARTSHORNE.OKLA.
April 9, 1914.
W. D. Harrison,
Eec. O. B. A.
Okla. City, Okla.
Dear
:Tarrison:
I enclose, herewith, the protest to the
Federal Reserve 7car1 and hope you may be able to !hake it
effective.
I certainly 6j3 no zood reason why we shculd
have been r.laced in a separate district from the northern
part of the state.
the Texas banks.
e have never ha'a any relations with
The district in which 7ansas City is
desiEnated to be the zoat.Irvt, center certainly should include all of 3nahcr6a an
I hope the Reserve Board can be
bade to feel this way about it.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
E
I C
411
moND,PRE5T.
OND,VICE PREST.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
411
GUY FORD,CASHiER.
/B.FINP ASST CASHIER
-1,
J.L.THURMOND,AssT CASHIER.
N. 9959
1
. 4W4a
*
_14e/c,/*/7/(4,4er
4
.
9 1914.
Mr. James Cnenoweth, Vicerrer4.,
kmerion Nntionql Bank,
Oklahoma City, OkLa.
Der Mr. Cli enoweth:Just in receipt of your letter
..41
relative to the orgatizatinn of Feder, Board
dividing our state andtacking us on to
Dalls. I do not see how they possibly
could have made a worse blunder than they
did for Oklahoma. It will alwayr be ablack
eye to Oklahom ,, if
ro not get this recon-
,
ered, and .1.t our - hole stote be put
i.
t
City district or r
,or, 7t1-..r!r
7
district. I feel that n11 the bankers as
welL as the peopte in Oklahoma want to go to
the Kansas City district, and ItiiflK that us
LrinIcs ns weii as the peopLe shoula le/Ave
nothing undone until we get this raiserable
mistaKe rectified; and I believe the Board
when it is put before them properly wilL
reconsider this matter and let us all go to
hrAnsa9 City.
And for your infortion
several dnys ago I .Yrot, strong lettere; to our
Sennters nnd Congressmnn nnd I asure you
that
PM 0NO.PREsT.
1OND , VICE PRE5T.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
GUY FORD,CASHIER.
•
411
C.B.FINCH,Assr.C.AsHIER.
J.L.THURMOND,AssT CASHIER.
N. 9959
4 9 1914.
.pmes Chenoweth.
9m doing pll I cpn in this yllpttr, Pnd I
think CkI9h rn
,
laould keep busy and tv..ver
let ,1-0 -Antil we hive won out in this mptter.
Yours very truly,
prt:,:43.cte
,
EKT/PAB.
is
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-:
'
$
IIIP
1
I
April 8th, 1914.
L. —. ric,bon, Cashier,
Kinta 6tatc
Kinta,
Dear
Iicceived. your coralunie .tion in roLily to
ours relatiR7 to regional Ix.
district.
you for your prompt attont ion in thlz
- 7e thank
i
Taa Ltcr,
ilLI
assure you that we are doim everything in olir po7er
to have this matter remeclied..
..",.1..rther vie 7ct alo47 t:lic.;iinc
to 7.7111 "in:;.'orm you.
Yours vary traly,
Manac;cr.
RO
/C2.
•
0
W. T. CLARK, PRES.
FARM
•
LOANS A
Ni.E.301-1ART, CASH!EPR
SPECIALTY
•
NO. 7127
FIRST NATI()N Al, BANK
CASH CAPITAL, $40.000.00
APACHE. OK
-LA..
Pth. 14.
W.P.Narrison,
Oklahoma City, Okla.
lear Harrison:-I am pleased to responl
to your letter of the 7th.
I have written our congressman and
to senator Owen, statinfr to
them that
it would do violence to our trade
relations to keep this section of
in district No. 11.
Okla.,
I have been thinking the matt
er over seriously and conclude
that
durinr4 the past 12 months this
rank has handled only two
on Dallas, Texas. Two small cotton
collection items
drafts with bills attached.
Our R.R., P.O. live -stock, and
practically all 7lerchntile tran
sactions
go to Ohla. City, Ilans. City
and St. Louis. The trend
of trade and travel
is positive to the north-east
and
City will not change it. You cann further more a re7ional bank in a Tex.
ot make water run up-hill, no
Now then we bclieve.tIlat Texas
not yet.
our;h
plenty of capital without splittin t to have a reserve bank and she has
g Okla.
Let us work to have Okla. in
the same reserve district, nothinc
short of realizing that will
the bankers and businrqs men of
please
the 9tate.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Very trul
f
/(7),
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
N°9968
H. F. TO L!V _17 Ft,PR i SIDENT
C.11. ESSE.NT,Mcc PRE.S.,DL N T
jarit1el7n
CORDELLOKLAHOMA
April,
191-4
Mr. W.B. Harrison,
Oklahoma City,Okla.
Tle=ir Sir:
Encloned are copies of• two letters whinli we
are today sending out relative to the establishment
of
regional r nerve distrint. re are radically opposed to
being placed in a distrint witb Dallas as aar r serve
city and above all do Lot
rtsh
to see the state
cat in half.
.If there are any other suggestions that
have to offer as to
assist
you may
thin matter we shall be glad to
you and other banks in
the state
yours very
Cashier.
1 rily
•
•
2•
OUR DEPOSITORS ARE PROTECTED BY THE DEPOSITORS
GUARANTY FUND OF THE STATE OF OKLAHOMA
TATE,
k
c/xpITAL STo"
I0,000.00
SURPLUS AND PROFITS
5,000 00
J. W.RABON, PRESIDENT.
PARIS J ANDERSON,Vicr PREST.
R.A.RABON,CASHIER.
KI/VTA, OKLAHOMA
April----7th----I9I4.
Mr. R. 0. Wunderl.I.ch,
Oklahoma City, Oklahoma.
Dear Sir:Referring to your circular letter of the 4th instant and
noticing that you were one of the Committee appointed by the Oklahoma
City Clearing House Association to made the move to remedy the
injustice to us of the formation of National Reserve Districts, we
have this to say in reply.
That we feel justified in protesting against the formation of
the districts as laid out for us in Oklahoma, the greatest money
producing product in Oklahoma which needs the most outside financial
assistance is the cotton, and it has been natural in the past and will
be in the future that we secure the desired assistance from Kansas
City and other points outside of the State of Texas, this being the
case on account of the State of Texas is placed in the same situation
as ourselves at the same time of the year, considering this we can
get better accomodations from any other state than the southern States
at this time.
We insist that you make a strOng effort to convince the Powers at
Viashington to change the District Boundaries effecting the State of
Oklahoma and place us in Kansas City district.
Anything that we can do to assist in this connection, let us
know, I remain
Very truly yours,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Flik0 Cashier.
J. D .CUSENBARY,CAsHieR.
A.J.EPPERLY,VICE PRESIDENT
D.0. POTTER , PRESIDENT.
•
•
No. 10442
THE FARMERS NATIONAL BANK
CAPITAL STOCK $25,000.00
HYPRO
tiA„t
itpril,6.,1914.
Yr. W. B. Harrison, Secy.,
Oklahoma Bankers Association,
Oklahoma City, Okla.
Dear Sir:
We have yours of the 4th., and are heartily in
accord with anything that will put us back into the United States, and cannot but look on our being put into any
southern district as a calamity.
Outside of being a short time further away, being
placed in the San Francisco district would not have
overturned our natural course of business any more, and
I believe all of western Oklahoma south of the "dead line"
would feel the same way about it.
We have absolutely no business whatever that would
require a Texas account, and during the twelve years that
I have managed five banks in the southwestern part of this
state I have never needed a Texas account, and I have been
located within two miles of the line at that.
I believe that if we all make a concerted effort, we
can get some relief from the Federal Board, and I believe
it had best be done through either your office, or through
the two districts affected.
Could you not get a letter from every bank in the southern part of the state
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
demanding that they be put into
IMO. SUPPLY CO. Cfti....00lok
DO.c'OTTER, PREsioEnrr.
•
A.J.EPPERLY,VicE PRESIDENT
•
J. D .CUSENBARY,CAsHIER.
No. 10442
THE FARMERS NATIONAL BANK
CAPITAL STOCK $25.000.00
HYDRO,
the Kansas City District and have for use in presenting our
case before the Federal Board.
These letters, together with all the. pressure that can
be brought to bear through our congressmen and senators
ought to have its effect.
We, on the south side of the Canadian, are doubly hurt,
both by having the State divided, and by having all our
business turned topsy-turvy, and are depending upon our
more fortunate associates to help us out.
Trusting you will leave no stone unturned and that
we will eventually get our rights, I am
JDC/CJ.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours truly
•
N98336
J.A.SLATON ,PRESIDENT
r
L.W_ LONG, VICE-PREsM. J COLLI N S,CAsHi ER
ss'T CASHIER
GEC.H. MS CLESKEY,A
1
-. 1Jf
ATIONAE,
CAPITAL 8( SURPLUS $36,000.00
RUSH SPRINGS,OKLA.
April,5th,1914.
Mr. W. B. Harrison, Secretary,O. B. A.
Oklahoma City,Okla.
Dear Sir:
Your letter in regard to the placine; of southern
Oklahoma in The Dallas
istrict-
received. In reply
will say that I believe the banks of Oklahoma,in fact,
all the business and farming interests of Oklahoma
to haie
should begin an organized and determined campaLn
mgmy count
all of Oklahoma placed in the K. C. distric t. You
on us,and are at liberty to use this letter as
a
statement of our position in the matter.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Very truly yours
//
eashier
11W
Un
riCh
OF MK. A. G.
CLET-LAW s TEHMILE 14 ,
,
"
Ai4111111.
I.
Concedes tliat Cleveland.'s banks are fewer in nAmbe
r, in to—
tal oaA.tal, etc.
laims, however, p have conservtive
,
and safe banking, with no nationalYfailures of
record as in
Pittsburgh.
Claims that bank Clearings are not proper basis
of comparison betwilfra citicai; attributes comparlttive low
uleurings of
Cleveland to absence of a stoat: exdhan12:e 11.ere.
Claims, himever, groater stability of clearings than
Pittebnith.
Lakes 1,1 1, l'olnt that Cleivlaul% record izA one of
. 1
steady, regular growth, while that of Attst argh shows wide
,
fluctuations.
illifill71-111111111111111111m
1111111'-
II.
Piures re.6arc.log mnuf*etvres differ tv'tor
irlAy from those
giver by Pittaiburgh, a pa.eEatly not twins
.
,
Intended, however,
to Include the metrD oliten 1ctri
c
t7oller143 figures
are for 1909:
Capital lnvestedt PittsbarGI.
C1eva ,t1d.
,
:-233,139,000.
4227,397000.
Value of Products: 243,454,000.
271,961,000.
Percentage of increase in wr nufactures
,
from 189? to 1909
:me for Clevel%nd 95.1 por efent,
:4,nd . br Pitts1,12.3.h 11.1 2er
-t
cent, so Cleveland has probably
overtaken 4%rsd ,asseCs. "'Ms
in this matter.
Population In 1910.
Excla:ftinG metropolitan
PittebtlEdi
Clovel%nd.
district.
533,905
660,663
Probably no manutacturing center
in the Ualt(d f.itates has
sach diversified industries as Cleve
ln6, a mnditionwhich
has been one of the Ilrin4liral onuse
s or its steaay and cono.
r112tent growth.
,
III. Every eastern trunklinz in the United States enters Cleve'Llutt it is ia the principal hisilway of travel bet;e
cana tAllu-wtoo; iu is in -412,ta moist airect line
om the iron ol:euf ti c northwestern statt-s =do , ittsbar&li
and the bituminous coU deposits of District r.o. 4; although
Cieveian 1&t oL uhe cxtrema noktheru edge of tne District,
ti lz%ke ex.ce*/ds :ILy other exiaLl area as a tr;.-ffic prodaoinj;
r
territory; in the aistriot LlIcre Is a net sork of ruilwaym
from nor,,h LA) south, .ch, in itself is evidLnce that therP
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
are imnort%nt lines or 1:1. f_c rqzni-- in that direction.
Pittsburgtt is not more convenient or accessible to ,he
greater :..rt of the Diptrict 1..ban is Ulevel%nd.
v9si4z..L.
L:14
00qulred to rcLah
v%riou6
ia tae Dictzict aet*rmined.
vIr to
(37 cluies ov ovor
10,00u .001Julation) 29 (poisulAtion
6 (2opallo4
1,&870/.4i
1430000
Kon;114 AV
2
(11 oiaes of over
5,000 poptILtioni
10
Psnnsylvn4.
(22 cities of over
10,000 popuictIon) 3
19
Greater accc,nd for P.4111=, in Pittsburgh, aucl wa3thiaent bid&
,
or interest rates allowed by the Ilttsb- rgh bunk to
a
corres1;;ondcnts, is reellonsible for any excess of banking
basineos trazw,ietcci there b
anl*rb in the LiatricLe
SiovAtures :averlag the asisites in the ret,erve cAy In
the
Disrizt Lis.xc Lcsn cecared by 'persisteLt druNmiaG," ani
mean little; frther, tht .T)4 out of the 476 of 'die
.
bank
sigwtures wore sered ezull baakc in lennaylvan
ia..
xJ.RWIIAP4a.Pits.
I.
II.
Financial supremacy in District No. 4.
Clewaktnd.
Banking ntatintics:
(7 murber baaks)
(2:Z1_=nsts)
44,400,000,
,55,604.000,
Ca:4tp..1 & Surplus
40,500,o00.
,805,360.
Indiv16u1l Df*of:its
10,317,025.36
2b,8u7,31.1.49
/ D/14
Cash 11Od 6 3
.
Bank Clet.rings for
7
$11= 1,23:4W.O.
year ending 9/0D/1302,951,861,000.
Pittbidur41 bankis u;...ceea tAista caldCaA.t41 4uld surpluz of
tal ..11d surplus of all banks of the Biz largest cities of
Ohio; and th,91t within ;3 75 nile rodias of PittstiLlryjh ;J.11
be fo -..Ind 50 '3". of tIle barItinc c..pitOs and surplus of District No. 4,
Industrial End commercild rapremacy in -District No 4.
,n.
21anufacturing (metro--,olit;m district) and poiyilati(..
Cleveland.
Pittsbixrrp.
527,04g.
236,911,140.
281 ,992,131.
Value- of P:leduc!ts:
576,615,495.
Poulatir;n (metro1,044,743
615,270
o1itan district)
Claims that Cleveland's basiness is localized, but that the
Pittsburfjh has world wfde market, as it is the iron and steel
center of tie
produces one-third of -Ale biuxminuas
mincel in the Unitod States; is the home of the oil and
coal
gas huclnerla it
mtustries 'oduce 177,0002000 tons of
freight per year.
•••••
III .The fourth Federal eserve District lies in the middle of an
- east and west trnem nevement, and that the lines ()." trade
ran thraah 'ittsbc.rEp rather Alan thrmth Cleveland.
TWo trunklines (B. & O. and Penna.) run east and west throuji
Pittsbur8h; h1le only one (N. Y. C.) runs emit a-ai west
through Cleveland.
Pittsburgh is more accessible to the District as a -whole than
,
is Cleveland, and, ():ipg to geogra2hical and railway conditions,
the state of Ohio can be served iAAter and more ,juidkly from
fittsburgh than from jInv-lc:ncl, and the advantage in favor
of PiLtsburgh is even greater for the other ()rums of ;he
District; banxers in Ohio aid over he entire DisL;rict
of their busilless with Pitl- sbur3n than
,
with Cleveland, :And the hozikers Et.re in the hi:bit of geirks
to P1ttsbur9t rather til:Ln to Cleland. 'ites as evidence
itI
).14k* (or 6,..;4)
signod by 476 of ';h6v, 766 npnber 1A:
in tno N.9tricr, to have Pittsburtb dant mate instead of
03eval;nA,
trann“c-Ang more
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
arc
CLEVII,A1TD'S REPLY.
I.
Concedes that Cleveland's banks are fewer in nember, in total ctseital, etc. Cleiree, hes:ever, to have (74on:71ervntJ-,-e
and safe banking, with no nationalVfailares of record as in
Pittsburh.
Claime thet benr cleer?nies Pre not prefer leeejs of cempaeison between cities; attrilmees earnearativelevi cleariee of
,
Cleveland to absence of a stock eechenr e there. Claims, however, greater stability of cleats-lees Chan Pittsuerce.
Likes the point that Clevelaed'e reeor6 ie one of eteuy, reular growth, whilr tlet of Pittsburgh shows vide fluctaations.
II.
Fiuree ring Tssrsufastares differ maeerially from those
given'by Pittsbarsh, anoarently not being intended, however,
to include the metrosolitan district. The following figures
are for 1909:
Caitil inmetsa: £i3iri.
Jlevelaad.
4233,139,033.
$22?,j97,000.
Value of Prodgets: 243,454,000.
271,961,000.
Percentage of increase in menufactures from 1859 to 190D
was for Cleveland 95.1 percent, and for Pittshlrh 11.1 er
cent, so Cleveland has probably overtaken and passed Pittsburgh in ;his eleete:r.
Population in 1910.
Pittsburgh
Exclufleng metra:)clitan
Cleveland.
533,9o5
660,666
district.
.
Probably no manufacturthg center in the United States has
such diversified indaetries as CleveLaud, a fsonditiou which
has been one ce' the 1;r1aoipa1 caases of its steady and censistent grarth.
III.
Every eaetern trunkline in the United States enters Cleveland, end that it is in the principal highway of travel between New YosOkand Chicago; ie is in the most direct line
Pittsburgh
from the iron ore uf the northwestern statee
of District No. 4: although
and the bituminous coal deposits
Cleveland lies on the extreme northern edge of the District,
the lake exceeds any other espial area ae a traffic producing
territory; in the district there is o. net work of railways
there
from north to south, ehich, in itself is evidence that
uii iA that direction.
are Important lines or triI
not mo re convenient or accessible to he
Pittsburgh ie
a eaugreater -art o± the District than is Cleveland.
s'eue4 the
vabsphes been made, end tele tilee dequired to
Dletelet determined.
various cities in the
Yeercr:a
Nearer to
T=i-i'sbur:rh
Clevelend..
(i cities of over
8 (ropult-tion
(IoDuletion
10,000 populetion) 29
143,000
1,987,000)
Kentacics.
(11 cities of ovee
10
5,000 -population)
eennEmiveleie,
k22 eixtes of over
19
10,000 poruletion) 3
'rtd oonsCluent higgg
Greeter derred for rs.nOm le Plttebierh,
banks to corer interest re.tee allowed by the Pittoblith
excess of lee±:ing basirespondents, is responsible ?er sny
District.
noes transacted there by bankers in the
the
soring the cIrtemze in the reserve city in
faSigne.teerce
drumming," ana
.
Dictr!ct have been seeered by "persistent
the bank
little; further, th4st 304 out of the 476 of
meen
signatures were seenre/ from bank in Perasylvania.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
611Glii4a4gum.
Pri.VPig14
I.
Financial supremacy in District No. 4.
Cleveland.
Pittsburft.
Banking statistics:
(7 menber banks)
(27 mamber banks)
4)14,400,000.
;',53,604,000.
Capital & Surplus
40,500,000.
13D,805,360.
Individual De)osits
10,317,025.33
25,807,327.49
Cash held 6/30/14
Bank Clearings for
4,271,232,000.
5
3/
year ending 9/3 1342,951,861,000.
ezoecd totU capiCarAtal and. surnlus of Pittsoargh bank
cities of
.
tal and surplus of all banks of 4he six 1, .rgest
radiJs of 2it5burgh
Ohio; and that within a 15 mi1€
ii sarplas of Disof the banking capital
be foJad 50
trict 3;(:). 4.
II.
0
Industrial id cortacrlict rtrprernav in District 1: 4.
and poi1atin.
L'anufactarina. (metro-)olitan district)
Cleveland.
Pittebul.At.
CF -Atal EuoaRed:
2.36d11,140.
,046.
$642,527
201,992,131.
57C,815,493.
Value of .erodaots:
Po,ultion (.fletro613,270
1,044,743
2o1itan district)
localized, but that the
Mains that Olevolcmd'a business is
world wide mo-...ket, as it is -the iron and steel
Pittsburrlh ht
,
center of the warld; -: roluoos one-thir0 of the oitamiaous
Es.tes; is the home of cm oil and
coal ninc.-3 in the United St,
coc business; its industries -ro."ace 177,000,000 tons of
freight per year.
II
an
ehe Fourth Federal Reserve District lies in tae middle of
and that he lines of trade
'east .1.-d west trade nevemi'nt,
run through 71ttsixkrcji. rather htn thraa,th Cleveland.
vo trunkiines (L. & C. .5Lud Penna.) run east and west through
Pittsbargh; vhile uiIy oe (7. 7. C.) rims east and west
trou6h Clevel:)nd.
than
,
Pittsburh is more z .:cosoiLle t:; the District as a - hole
ical and railway conditions
to sosgra)h
is Cleveld, and, c
from
the state of Ohio can be served better and more (iuickly
Pittsburgh thLn from ClevDnd, nd tie advantage in favor
of the
of Pittsburgh is even greater for the other - ortians
over th3 entire District are
District; bankers in Ohio md
than
trans.:-.14 ing no:''e of their bal:111.9 wi h PIttsburt
ar in the habit of
,with C1.2vel. nd,nö the 1)E.n17ers
to Pittsburgh rather th:::n to Cle-niand. Jitg18 an evidence
(or 62%)
a _etlicrz signed by 47h of ihv 766 m:mbor ball'4:c
designated lneberld of
in the District to have Pittsbarga
Cleveland.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A. C :01ILLEF
/
P,L1,71707.E CL=',
11017,702P)
I.
That it is "the nsturs1 commercial, finarcial, and industrial carital
of the Fifth ,istrict, and about rive times as imeortaiit as ,i_chmord.
In supsort of the foregoing statement, Baltimore gives the following:
,ned to she.: Baltimore'e Sureriorit-.
Stat:.tics 0es1 ,
opulation ( ensus,1910)
anur'actures
Carital employed
Value of Products
Wage Earners Rmployed
ssricrulture
Value of live stock
received at stock yards
in 1915
ransportation Facilities
umber of tn.lnk lines
Foreign steamshir lines
Baltimore (City)
558,405
164,436,758.
,486,977,710.
71,444
,659,667.
47,357,985.
14,049
,807,299.75
,&40,032.
Richmond claims that the sureriority of Richmond as a distributing center
has been recognized by the railroads and that for the "Preferential Freight Rate
Territory" of Richmond, comrrising the greater rortioncf the area nor, in the
Fifth 'istrict, Richmond enjoys a rate lover by about 1i than that granted to
Baltimore.
6
17
Richmond introduces testimony to show that it has boon winning away from
Baltimore much of the jobbing trade of the Fifth District.
80,000,0-0,
Richmond claims that it handles a large volume of business which creates
foreign exchange.
411,507,000.
771onal
7
.Tational
-11 banks
Barks only
Banks only
10,634,400. • 11,003,596.
'
56,421,807. 22,247- ,508.
26,957,z _'"
165,901,43. 43,701,142- 35,704,120.
-11 banks
Carital invested
Individual derosits
That all of Baltimore's arguments hinge on one thing, the size of Baltimore.
It is true that Baltimore is the largest city in the district, but it is not true
(1) that Baltimore it', the natural commercial, industrial, and banking center of
the Fifth District; (2) that all business in the Firth District naturally cons
verges at Baltimore; (3) tl—t in every essential resroct, in commerce, in finance
and in industry, Baltimore is about five times as important as Richmond to tao
'ifth District.
Richmond claims, in reply to the aricultural statistics given by Baltimore
that of horses and mules, which Baltimore claims Richmond does not handle at all,
Richmond handles twelve times as many as does Baltimore.
'Lipping
Tonnae:e of vessels enterce
and cleared, 1913, for
9,
foreign and coastwise tre
Jobbing
Total sales 17 jobbing
235,685,290.
houses, in 1913.
Sales by jobbing houses
to territory outside of
7
)altimore
162,2 3,340.
Coal Trade
-:xports thrgugh Baltimore, in 1913, in tons,
673,413
Visheries
Baltimore the leading city
in the oyster packinrindustry
Foreign COt.derce
Exports, 1913,
•e117,269,378.
Imorts, 1913,
e35,553,514.
Bankinr
,
•
Clearings for year
ending Sept. 30, 1912,
-1,678,34,000.
1f
tf
e 2,011,447,000.
" 1913,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Lichnond (City)
127,628
T
Baltimore claims that it supplies the Fifth District tIth large amounts of
carital.
austcwlary course of business in the Fifth District is towards the
cet, I. e., towards Baltimore, as the largest, most'
north and flo-ar
(a)
important, and also the most northern seaport in the Fifth _District, and
the roint towards rhich commercial payments, lisuidation of business transactions, and exchange normally move."
(b) "Baltimore, though near the northern end of the District, is accessible
to all parts of the District, and is within seventeen hours by mail of
rractically every city in the District, so that business transacted by mail
from any part of the District can be consummated on the next business day
after it is begun. Richmond is farther distant than Baltimore from the most
distant city in the District."
(c) "BaltImore, though farther from the geometrical center of the District
than Richmond, is at the center of the greatest density of population and
business in the District, and is, therefore, nearertlianRichmond to the
greater volume of business transacted in the %istrict, and to the creator
part of the banking ca -ital and resources of the District'.
Equally near to
:Tearer in mailing tint
°--ITearer in mailing time
either city.
'
to Baltimore
to Richmond
Resources
Resources
Banks
Resources
Banks
Banks
\
4,637,975.
16
e 258,516,775.
, 293.770,622.
250
€12
Baltimore is the conterof business activities having special relation
to 'le business of Federal Reserve Banks.
(a) Baltimore is a natural reserve city; Richmond, in the banking world,
IS acoanliry town and the location of country banks."
(b) ty altiemore is the center of the greatest volume of commercial credits
extentint throuh the District".
(c) naltrwre is the principal atlantic seaport of the South. The location
and cenneions of Baltimore will aid the Federal Reserve Bank of the rifth
-District "11 successfully competing in the market for the purchase and sale
of foreignxchange, with the control over general market conditions
resultinse fni the establishment of such a business; in developing the use
and sale of \lmerican acceptances, with increased facilities for the develorment of "merican foreign trade; and generally in developing, and aiding the
develorment o7 foreign connections of the Reserve Bank and of the member
banks in the eistrict.
111%00.4o4dee-.7
Richmond says that the determination of the location of the reserve city
is primarily a banking problem. as 56,; of Baltimore's banking power is in
State banks, trust cormanies, and mutual savings banks, which cannot be counted
on as rart of the system, Richmond contends that they Should not be considered
,•
•
in 'omTLi.ri.flg n,..-.1-ulmore. UanKILlg u.ur \,1 un uilc. u ul III U11.11,',111U.
State banks.
Total.'
Distribution of barks
J rational banks.
reoe-rarhically.
1681
65
103
l'aryland
36
24
12
District of Columbia
162
:7
117
7:est Virginia
690
226
132
Virginia
353
4251
72
North Carolina
336
290
'
48
South Carolina
!
1.606)
1,122
404
i
The foregoing table is eibed as evidence that Richmond can serve more
quIccly, co nvenien t/y, efficiently, a)d with greater satisfaction to those
served, about 1216 banks as against 390 banks vhich -r;ould fall into 'Be:I:tip:lore
territory. Richmond also gives the result of a poll of banks in Virginia,
ilorth Carolina, South Carolina, 77est Virginia, Tennessee, Eentucky, Georgia,
and Florida, in which Richmond was the first choice of 952 banks, second choice
of 305 and third choice of 78, or a tatl of 133E, while Baltimore received only
9 votes es first choice, 93 as second, and 2 as third, or a total of 104.
poll ef banks made directly
l_aryland banks did not participate in the roll. .
showed Richmond as the first choice of 167, and Baltimore the first choice
of 128.
Richmond submits figures to show that Richmond banks have been growing
more rapidly than those of Baltimore, as well as similar figures for banks
throughout the District.
National banks only.
Loans and Idscounts
Increase
'arital and Surrlu6
1914
Increase
1904
1014.
1904
23;;
s48,755,000. c,60,312,000.
)
,
7
18,262,900. e 19,205,900. 5;
Baltimore
12,946,000. 35,593,000.
%
175,1) ,
3,115,000.
9,914,392. 199
Richmond
Individual Deposits
Increase
1914
1904
A."7
42,553,000.
Baltimore e40,910,300.
11,257,000.
25,705,000.
Richmond
ilpsgregate Resources of National and State Banks of the Fifth District.
Increase.
1913
1902
61'A
199,525,000.
. aryland (including Baltimore) % 123,617,000.
109,;
153,766,000.
73,454,001.
•est Virginia (all)
130!0
210,211,000.
94,728,000.
Virginia (includins. Richmond)
252/0
117,516,000.
33,322,000.
North Carolina
238Z
95,185,000.
28,138,000.
South Carolina
II. & III. Richmond presents a map Showing that Richmond is located almost
exactly at (1) the center of benkinv resources in the district, (2) the center
of production, (3) the center of population.
Baltimore's statement that it is nearer in pointof mailing time to the
major rortion of the 'banking resources or the district than is Richmond, is
flatly contradicted, and a computation is given to anau that Richmond is
the nearer. A. map is also given to show that mail from most of the district
can more readily reach Richmond than Baltimore.
Richmond contrasts Virginia, Lorth Carolina, and South Carolina, having
a total area of 119,000 square miles and a rorulation of 5,920,000, with the
remainder of the district (excluding ':iest Virginia, which it assumes to be
at least as close and convenient to Richmond as to Baltimore) having an area
of 30.000 ssuare miles and a population of 2,950,000.
Richmond cuotes the testimony of several men to Show that the people in
the southern end of the district are very anxious to have Richmond the Federal
reserve city of the Fifth District, because they consider it more convenient
than Baltimore, and believe that it has a closer knx:lede:e of the needs and
conditions of the southern part of the district than has Baltimore.
The following suotation from the Richmond brief (page 7) summarizes in
a eeneral ray the contentions of Richmond on behalf of its richt to retain the
designation of Federal reserve city:
a few years there have.grown up relations between Richmond and the
larger portion of the territory, so intimate and wide-spread, that the decision
of the Organization Committee, after defining the area of District No. 5, could
not have been otheretise than it was without violating the economics, as well as
the physical and financial facts of the situation, and the convenience and
desires of those most intimately affected, as appears in the stateent of the
Organization Committee."
OFFICE ( 'MR. A. C. MILLER
FILE NO.
Official Record,
As prepared by the New York, New Haven, & Hartford Railroad Company,
of the Number of Passengers carried from points in the entire State
of Connecticut to
New York City and Boston,
for the YEAR,
ending
JUNE 30, 1915.
Number of Passengers carried to New York City,
1,74g,g62.
Number of Passengers carried to Boston,
g3,o97
The New York, New Haven and Hartford Railroad Company
further reports that, of the total of this number of passengers carried to New York City, one-third, or 574-,000, were
Commuters to New York;
and, of the number of passengers car-
ried td) Boston, there were 100 Commuters, almost entirely
from Putnam, a town in the northeast corner of the State, and
not included in this Petition for Transfer.
These figures do not include travel or mileage books,
nor cash fares;
but it is fair to assume that, if they did,
it would ninke but very little difference in the figures nor
in the preponderance of travel, as shown, to New York.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Record for the nonth of Decel, ber. 1915, showinc the
volume of
Bankin
business tr,
24nsacttad
ith New YoxY and Boston by sixteen
(16)
Nationti,1 Banks in Brldgeport (one bank in that city not
reporting)
Hartford, New Haven and.7aterbury.
New York
Canh letters from correspondents
Received from Clearing House
Drafts draJin on
Number of Drafts drawn cn
Cash lottcr* sent to
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Boston
C;10,409,099
t5,824,653
4-,594,155
229,911
54,240,660
5,391,461
9,710
952
54,419,0,06
6,781,920
Six Day Record
ecticut Cities
Of Outgoi4nr, Telephone Calls from certain Conn
To Boston and New York.
TOTAL for
Bridgeport.Hartford.New Haven.Waterbury.
4 Cities.
470.
42.
240.
127.
61.
No.of Calls to New York,
1647.
796.
1555.
69.
46g7
Total No. of Calls to )
Boston and New York, )
16g9.
1036.
16g2.
750.
5157.
No. of Calls to Boston,
Per Cent, Boston Calls)
to total Boston and
New York Calls,
2.50.
Per Cent, NEW YORK Calls to)
total Boston & New York
) 97.50.
Calls,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
23.2.
7.60
g.1%.
67.0
,
92.470
91.90.
g.3
90.9%.
arC01/3") Of
IBM CLASS MAIL 71SPATCHri) AT MIMI'S NALST
ON MONPAY ITTTRUARY 14, 1V16.
..
--------....--
..........................
Itti.i1.1
from
To Boston
: 1i1: te
74.
3
.,-r-,
..,.
Ylails
to
Bo •.it on
Valls
from
N.Y.
(Z1
lb,
',.' . ,a08
10
7
lf
,
7
r at cr.rb ury :
3,956
F36:5
c
,,
7
7
6
•
.
17,632
,:,`, ,137
11.
c.:i
12
10
:To Nevi York
Hartford. .
.7
Ne. Haven
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
OFFICE '"? MR. /- C. MILLET'
FILE NO.
tho Co.:1;11 ttor.;. .a.;ypoiora. to L;I:Lnil Valor
ot1tiz o: tho
n tile northern ...ou.nticmi
jazaeg, to be t;a3cela oat of the. khilarlelphis.
:Atstrict. UZId
t1 de'; `1`ork: District.
to
ZAI und.orsimed Committee, t
was referroi tit
potltia.a of thill v:4,mber barle of Northern : jereow
.07.7
7
the
the
Ilnec !Jo thcle the banks In Bev Jersey, north oT
213 tle.r1w lino of the (otti
of Ocean atia lereor.
:ma ilecervo 7:).tctrict•
,
be 1.a.e,134.ed In lodc.
allor oancleicratioil of the potItion.,
2
if Litra
l.1,re tr.) 7.,
, otioznartd
tho tliantfor thcrola zequoztoa be
-
t1 the conn-
tic
.1ka1aout1a
Laiitordon.
2acccle,
Eudoon.
Borcea„
union,
-vmz,
ix,oe, and
be inc1ade(1 wttlain tho bounauxiec of the oocona :Federal 2.01:_crre
trlet.
Year Committee i
cr5'. the opinion th,at
be eonduolvo t) the conraxLienco
ti. the euoto,
...x.a..;:v nourcoo
Viret:
tho
trvivfor
involvcd
bla4n000, for the fon.w1.1,7
1.9.5.-..P:o part of the 11-46.11eit:1C.:. de.e70a opal
t
of tiv rejlon le conducted.
:_ocona:
e th.io oviLicacc bc:o.
:e the Rocorro
.";17r:a,:z1.2,eation •:an-lIttoc fill Is t.) d5Eelam anz:
evidence ore
thou
I
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Inn•aplwt of the. ca:w'mution
count (le dhoaldho Inc l'ade
1
1.2.
in the third d ictric t.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
d
ThireL
The ordin
c=rva of hankiztf; buzix=
i• thew c;ounttec iz so mpluutvelyt
and from New
Tfok Clt:7 that even thz p4r1"in7 of (231W30B betA^Jon the
rev York 14,ria t
tIiaatipMa rictritAt woula aft
.
cern mtirely ta ovoromo to L;14:lazimlienott ana
loso of ti= arm to oporatillc thrazgh Ailadelphla,
Lor cl,ati:o1L7 zwat the lazal quecttioll. of :o:tualw,mullAlitw
attelliniT; to th,1 collootion of ohe;e4z arhIzh Toquiroc.
as a woof e (Iwo ailiconca, the atio of tha shozteat
and motA dizoot roatot,
C
?ourth; 70= , ozwIttee dim) not *foci th:Lt,
againui, sx..* courc,k. :oticoac ,'above
CA;
prcmucil
vnlIghtti bø .attachod to tho
the.t the pro-
IT).faud cM110t) woula Introe the aL,:pit'll-of, tho
Dim
phla.
u$ii di Li
that of
13vak or 1.1.:Wlel-
La the opinioll oi;Io.r ionzateo, it dooz aot
laAttor mach whethor
Yo.rlec cuitca
bu
)
5
oroese4 fmm 47:1X),500,000. to 'z2,4 -oo,ory. , or alladolphla'n deeronzed from 42,500,000. to ;10.600,000.
In both cazmis, undor the tor= of the .ot, the incream and, the aocrouvta is rolativolw clittht, and
tbe roeportaibilits (If takiw7 cam of the mode of
tho owlbor WInkx,'
of tbro dietriot ic,oreace3
Oc-
ereat5ec In proportian to tiohanco iz oapitalzet5.orl.
even af.Ur tha ociatznplsto :eadjuostrion.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
oraw nrce baltko wou1dbulurcer lu cite thw. tIlat
of fl:11,41ciphltl,
Yozz Coallitt4ci Tcole ztrarlgi,T; tat It lz In
tl
duty
thi
c.i
q: 4o14V;41
,
i
rclalva
Olte to the rantly zozo tnpoat a.1.1 of :';ewa71.°Ing a
ezctem that 1,7111 bozt aaa-pt it!Lx1f t
oplotton m74 1404
tho onoothoct
ti:LAW oanclaue4
v7itIlaat dolne ricaozac to tho ottoa=4 coarn* oT
buzinozz.
n:Iladcaphia CuJ3E
4• 7.orowcporibolJxrc to
onlj .Alt In a olai7.i
e
▪
4a
01111 tit
alotriz.t.
bo caaporacato
othoc torrItory in mxo the uorthern
of ,Uov slkc;F
Allad -.4,„,la
Gannot Z)o doolae
bo zAlotto-41 to flva Yo:, vhore,
cou, it
4
t
_
Civic ti6e victlaaz o-4* 21ot
. .
problem: will hare to ho ttliaDri
r.4C1
.4
L;t14,), 1.—
owaperzation can be
shal •w
tht
ivea frau the
t2h..th
cdter the Board
(7,-ezzorLa a fact-
inite iatorprcttatiQn az to itc noww:c crf roviow.
peotially z;ubuittoa,.
No.sitor...4.44N4rtg14.4
•
4411n
,
11
.
Wt.
zr Lal..
1
Some of these which recommend themselves on the ground of business
efficiency are so obvious as not to require extended reference.
They are
the increased economy of operation that would result from diminished overhead
expenses, diminished costs of issue and redemption of notes, etc.
But
however important these and similar considerations of a strictly business
nature, there are in the opinion of your committee, administrative advantages of a large and compelling character that would result from a well
conceived readjustment of the districts.
(1) The Federal reserve system is still in the developmental stage;
the test of its capacity is still to come.
The primary responsibility for
making it a success rests with the Federal Reserve Board.
In the opinion
of your committee, experience already shows the embarrassment which the
Board may expect in dealing with and through units that are weak. i;ffective decentralization of banking facilities, we believe, depends not merely
upon the number of Federal Reserve Banks but upon the vigor with which they
function.
To achieve the purposes of the Act the component unite of the
Federal reserve system must be strong enough in thansclves to be effective,
large enough to command respect, and active enough to exert a continuous
and decisive influence in the banking affairs of its district.
Tnis means
that in the less well developed and settled parts of the country a Niall
constructed district must timbrace a territory eufficientpy wide in extent
and divereified in its interests to give balance to its banking situation,
and not too much tied up to a single crop or line of industry and that all
the districts should be free from any suggestion of sectionalism.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
011
The problem of organizing a system of national clerinrs, —hich is
one of the cherished objects of the banking reform provided in the Federal
PT:serve Act and a resonsibility to which the Poard has given much thought,
wotIld be carried appreciably nearer a solution if the Federal reserve districts were so organized thlt each one of them might have within its
botindaries a sub-treasury.
Indeed, your committee thinks it extremely
dcwbtful whether without this facility an economical and effective system
of clearings can be successfully estlblished and maintained.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(3) The fact that the reserve bunking EnisteN has gone through the
first year of its operation without any untoward event in its life, should
not mislead or deceive us as to the future.
We ehould, as a Board, be
unequal to our responsibilities if we did not
far favored us.
realize that fortune has thus
600ner or later the turn sill come.and when it comes it
will come with suddenness and abruptness and we must be prepared for the
change.
Economists and financiers are not agreed as to precisely what the
situation will be when the war is over; that the world will be confronted
with a most gigantic problem in industrial, commercial and financial
reconstruction an a result of the dislocation of credit, commerce and
industry wrought by the war and the destruction of life and property, it is
on all hands agreed by competent students.
:!c) one can therefore pretend
at this time to calculate with accuracy the extent of tho shock to which our
banking and credit system will be subjected, but it will certainly be of
extraordinary severity and extent.
Readjuztments in the world of commerce
and finance such as the world has not peen since the close of the Napoleonic
wars will have to be worked out and we, as R nation, must be reedy to moot
alike the necessities and opportunities of the new and changed situation,
and especially through a perfected banking organization.
This means, in
the judgment of your committee, that the se7eral reserve banks must be made
capable and strong, able and accustomed to act with promptness, with vigor,
with intelligence, and when necessary Wioncert and in subordination to
broadly conceived policies national in their scope and purpose.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
be said to
Of the twelve Federal Reserve Banks one half may
be strong and the other half weak.
The remedy for thin situation, in the
of the districto
opinion of your committee, is such a readjustment
flU
adequate extent and banking
will leave us with say eight districts, all of
regional center.
power and each able to support a strong and activo
Your
much reflection and not
committee has reached this conclusion only after
political and administrative,
without consideration of the obstacles, legal,
along the lines indicated.
which will be encountered in working out a program
Reserve Doard will not be
It is our belief that the members of the Federal
ult responsibilities
deterred from fidelity to M. higher and more diffic
err
al loyalties. It
by any adventitious considerations ?I(lôcal and person
boara to Let in
ought therefore, in our opinion, to be possiole for the
keep steadily
substanUal if not complete accord on this question if we
awl set our
in mind the best development of the Federal Reservo System
loyalty to the system above and beyond any other.
4oth the lederal liGserve
before the bar of
board and the Federal Reserve Banks are still on trial
real or imagined difpublic opinion and advantage All be taken of every
unenies uf the Federal
ference of opinion in the board by its critice and the
Reserve System.
We should not hesitate, however, because of this difficulty;
promptness and unanimity of action in the way to meet it.
Your committee, having presented the
C106
for redistri tin,! in
ing a definite
its general aspects, before making further report and submitt
program, asks instructions on the following:
Shall the committee prepare and submit a plan of changes in district
boundaries involving the consolidating of adjoining districts and reduction
in the number of districts; or shall the committee proceed to recommend
answers to each of the five cases now on appeal before the Board without
touching the larger issues involved in a comprehensive handling of the
rediscounting problem.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
_T. C
02 IL..
.
iT ICA'
ess
h
43 may assume that among the important objects whic Congr
Reserve Act were:
desired to achieve in enacting the Federal
rs - indeterminate in
The creation of independent banking cente
1.
character - in each of which would
number and regional rather than local in
the banking reserves of its disbe concentrnted a substantial portion of
zed as the basis of an elastic system
trict which could be effectively utili
would create and sustain a ready market
of credit and note issue and which
ptances.
for commetcial paper and bankers' acce
nearly equalizing the
The steadying of interest rates by more
2.
rent parts of the same district or
supply of credit facilities in diffe
ly by making available for active use
between districts, more particular
otherwise or elsewhere be unemployed.
where needed, funds which might
t system of
The establishment of an economical and efficien
3.
of checks and of transferring funds within or
clenrings and collection
between districts.
cy of
Decentralization of credit facilities through the agen
the organic principle which differengreat and strong regional centers is
any other comparable banking system,
tiates the Federal reserve system from
departure in the field of reserve
and the success of our new American
wisdom and discrimination with which
banking will be conditioned upon the
is the new and experimental feature of the
this principle is applied. This
be found, both in the debates of Congress
system and abundant evidence is to
framers of the Federal Reserve Act
and in the Reserve Act itself, that the
is necessary to recognize and emphasize
were fully alive to this fact; but it
of the Act attached to the regional
that however much importance the framers
the system, the Act,nevertheless,
principle in the effective administration of
not be settled in r,dvance and
plainly regarded this as a question which could
settled by the Reserve Bank
a question that could not even be definitively
tigation as could be had
Organization Committee on the basis of such inves
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(2)
before the actual inauguration of the hew banking system.
The Act, therefore,
did not undertake to fix the boundaries of districts nor even the exact number.
Congress was satisfied to prescribe an upper and a lower limit within which
ce with
the precise number of districts should be determined in accordan
be at hand.
changing conditions and after the neceeerry experience might
The
the correct solution of
ultimate judgment on this all important question, on
was to be that of
which was staked the success of the Federal reserve system,
the free exerthe Federal Reserve Board, and Congress did nothing to impede
cise of the Board's judgment on this question other than laying down the
requirements that the districts should not be more than twelve in number nor
the
less than eight, and by proscribing that due regard should be given to
convenience and customary course of business.
ebeervation of the actual working of the Federal reserve banking
, has satissystem and of the factors that make for strength and for weakness
ances of the
fied your committee that there is a limit,in the present circumst
its purpose and
country, beyond which, if carried, decentralization defeats
does not make for independence.
Experience he satisfied us that the
important objects
fundamental purpose of decentralization ns well as the other
which your committee
of the rererve system, will never be attained in the degree
us
believes possible without at least a partial consolidation of contiguo
districts.
The Reserve Rank Organization Committee, to whose judgment in
first instance the question of fixing the number and boundaries of the
have had
Federal reserve districts was referred, did not have and could not
y for a final
the data, which alone could be derived from experience, necessar
disposition of the problem.
its conclusions were necessarily more or less
conjectural in character and therefore not to be regarded, under any reascnable
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(3)
construction of the authority and responsibilities of the Federal Reserve
Board in the matter, as definitive.
It may be assumed that the Act, in
referring the problem of districting along -vith other preliminLry questions
to the Organization Committee for initiative action, did so with full
appreciation of the difficulties and the importance of the proelem and in
order not to delay the organization of the lederal reserve banks by postponing consideration of the problem until after the appointment of the Federal
Reserve Board; and this method of handling the problem was doubtless also
adopted by Congress in full npprecintion by it of the fact that in its first
stages the whole reserve banking organization would be so flexible in cheracter
that such readjustments in the fundamentals of the regional structure as might
commend themselves as necessary or expedient to the judgment of the Federal
Reserve Board, could be mode without injury to or impairment of the normal
1
development of the system.
In organizing, the new banking system it was obviously necessary to
begin somehwere and somehow, even though it wLs to be expected that scene of
the results would have to be revised.
The tusk of the Grganizeticn Committee
was of necessity one beret with many end varied difficulties and uncertainties.
ro one can appreciate this better than your cownittee which, in reviewing the
problem of districting, has had the advrIntage of much decisive knowledge
derived from experience which woo lacking to the txganization Committee.
It
therefore implies no criticism of the work and findings of the erganizetion
Committee if your present committee, with the benefit of a yeer's observation
Note 1. See speech of Hon. Carter Class, December 22, 1913, on the Conference
Committee report on the Federal Aesere t'ct.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(4)
the conclusion
of the workings of the Federal reserve system, has reached
ization Committee can be
that the regional structure outlined by the Organ
in efficiency and economy of
simplified in some of its features with a gain
operation.
sed by the OrganizaIt is, indeed, a tribute to the insight exerci
the reserve districts, that
tion Committee in laying out the boundaries of
connittee should be found to
the readjustments hereinafter proposed by your
lines of the Organization Cominvolve so little change in the fundamental
mittee's map.
differ as to
Opinions, it may well be expected, will long
Federal reserve system.
the best alignment of districts under the
however
of the problem, cxperience alone
much experience may do to help the solution
perhaps never
be a
long tixiee expected to settle it. There will/
may not for a very
l which will have to be
considerable margin of doubt on points of detai
.
resolved by the unaided judgment of the Board
It is true that all the data
available, are not yet at hand for a
which may in time be expected to become
if experience alone is to settle
final Itnd definitive solution of the problem
on that a sufficiently large body of
it, but your connittee is of the opini
it possible to undertake the work of
experience has already been had to make
l confidence in the permanency
readjustment with intelligence and substantia
of the results.
of a minor
Any risks of possible necessary readjustments
t and negligible compared
character in the future are to be regarded as sligh
development of the Yederal resfire
with the injury done through holding back the
s of the several districts
system and keeping the business and banking communitie
final disposition of the
in a state of suspense as to what will be the
dislocation and disdistricting question, to say nothing of the considerable
y additional day
turbances in established arrangements which every unnecessar
of delay will entail.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(5)
the question of readjustrient
Speaking praltically, therefore, on
any
nittee is firmly of the ovinion that so far as
of districts, your co-T
handlinr of the problem is concerned, it is a question
large and comprehensive
hes come when the Iederal heserve Ford must
of now or never. The time
bility of sanctioning the existing r,rrangement of
either accept the responsi
sion as in the exercise of its best
districts or else of naking such revi
y.
judgment it now believes to be necessar
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
OFFICE c- va.
FILE LO.
A. C.
_ -----
d by the Federal Reserve
Whereas, a committee was duly appointe
ine and report on -pending petitions for
Board on OcIsober 19, 1915, to exam
of Federal reserve cities upon which
redistricting and redetermination
hearings have been held, and
ng instructions as to
Whereas, said committee has reported aski
s, including other
whether to report upon said petition
on which no
thereof, to report a plan for
hearings have yet been held, or, in lieu
incidentally abolishing several
redistricting the entire United States,
Federal reserve banks, and
ructions has
Whereas, said committee in its request for inst
such redistricting and abolishing
incorporated a general report in favor of
of Federal reserve banks, and
based its conclusions
Whereas, said committee in said report has
of the workings of the
(a) Upon observations which it has made
rt what such observations have
Federal Reserve Act, but has failed to repo
been,
(V)
had imier the Federal
Upon certain experiences which it has
*hat sach experiences were,
Reserve Act, but has failed to specify
no conclusion could be
(c) Upon the admission that up to date
rved, but fails to state any reason
justified by the experiences already obse
for such conclusion,
(d)
failed
Upon alleged savings in overhead expenses, but has
ain such statement,
to state any figures or to give any facts to sust
e of Federal
(e) Upon saving in the cost of redemption and issu
res to justify such conclusion,
reserve notes, but has failed to give gay figu
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(f) Upon the necessity of balancing the banking sitaatian ant
making weak bulks strong, without citing a single instance of sadh weakness
or lack of balance,
(g)
Upon the necessity of removing sectionalism, without detail-
ing apy instance where each sectionalism now exists,
(h) Upon the benefits whichhwould acrue to the clearing system
by such redistricting, without explaining in any ray how creating further
delay in collection of dhOcks by enlarging the area of districts would facilitate either collection or clearing,
(i) Upon the benefits to be derived from limiting Federal reserve cities to cities mihere Subtreasardes exist, without suggesting what
said benefits waald be;
Whereas, said committee in said report states that it is of
opinion that the Federal Reserve System as at present constitated is in.
adequate to meet difficulties vhich may arise after the conclusion of the
present European War, that its present apparent adequacy rests only upon
the fact that it has not been put to the test, the same being susceptible
,
of the taYerpretation that the Federal Reserve System as at present constitated is a failure, and
Whereas, said committee has recommended. that Foderal reserve
cities should be made Central reserve cities thus increasing their required
reserves to a minimum of 18 per cant, in order to deter cities without
banking status from seeking to become Federal reserve cities, as well as
to increase their reserve depOsits,
Mereas, said committee has pointed out that every real and
imagined difference of opinion of the Board will be taken advantage of by
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
d that, therefore,
l Reserve System, an
emies of the Federa
en
the critics and
cts upon which
out disclosing the fa
is desirable, - with
on
unanimity of acti
sed, and,
the committee is ba
the unanimity of
the reasons which
fails to point out
eas, said commdttee
Wher
its conclusions remeabers in reaching
th its individual
have weighed wi
that each member of
with the statomsnt
ents itself merely
ported, but =t
now, therefore,
usions in his own way;
has reached his conatl
the committee
be it resolved:
at the observations
reocrt in detail wh
That said comnittee
(1)
ve impelled the
Reserve Act 'Atich ha
e under the Federal
and experiences ar
id report
lusions readaed in sa
members to the conc
committee has
cal information the
at, if my, statisti
) Wh
ty and as to the
as to the desirabili
ify its conclusions
prepared to just
overhead charges
minished expenses in
bringing about the di
possibility of
l reserve notes.
d redemption of Federa
d cost of issue an
an
ed any concrete
com-dttoe has prepar
Nhether or not said
(3)
s, any sadh plan
Federal reserve bank
cting and abolishing
plan of redistri
enable
s consideration, to
l Reserve Board for it
to the Federa
to be sabndtted
now asks*
e instractions it
to said committee th
eatly to give
it sore intellig
s conclusions had in
ittee in readting it
) Whether said comm
(4
d
ard that said Boar
e Federal Reserve Bo
n of counsel of th
mind the opinio
Federal reserve
the existing number of
authority to reduce
had no lawful
cured
has been asked or se
ether any legal opinion
s, and wh
banks or district
any sudh opiniono
d, annexing a copy of
counsel of the Boar
from other
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
;
,
...eport of the ...oLaniti.e4.1 Appointe6 tc uoacid r
in the tto cf "-ebrasIzia
ctition of the
(0:zoo:ct the outhern :ior of %)ountiez) and the
,:c.:cen out of the ,:onth
state Of „QODL/74;e IG be .
and incittacd in the eventh
z
(:.it-Liaz City) DitAriet
(Chi) Dictrict.
1
The Undersizzed .',(111c.ittee, to 1..,-1/1.h
of ck7•.,:t“in buzikerc izi
obrc
corrnrisirk7 *mid states be tc
referred the petition
arid -,-,yoraing aclAn7, thzt tile territory
out ci: Liistriot 'To. 10
beG,-13 1*.g.',ve to ret)ciaiaend. that,
and 3ni.exod to ,Iztrict
Your
this ,
..ctition bo kleniod.
for the Frevent, Lt
arizac
.
lc of the opiaien tat to take amv the ,ir:rozzter part of .7"ebrat.72.a arid
all 01: V.c
tate
fur -weaken t;10:1tf de
Owiw would
trict as to make it of :Little vcilue.
cote: !al a matter of fact, it clad reduce the capi;tal of the ice .)it,' Aitilak from , 5,530,300.o° to
vould. be pur.
3
proxiwatel- $3.90(),T)0.oe. alo io
(titlly hut; not wholly compensated bw ad6 inp7; the south-)
s
(orn hair of 0141ahoula, making the e, yital of the
)
c4,41J0,000.0.
concidorable ,Lroulnent in favor of recontideration of
the bolutdar,- :An3c of the Uhiov.go
;.it
AaraeL.coli ,
t.
mad
Dictricts and Elou3thinj to be said in fav;.)r of rethxcinc thee
four Lictricts to two; but until the ::,,oard ic read
question in this broader
zvotir
'Lc coniAtior
oiiittcc Ic of the oTinion
that It v.:1ld be a miAake to reuken the ,uari-::1:sit
the L.,,ltc.ber bwilre of 1114 ; tatc
..Artriet by tik
of l'ebrarAca LTA. • jomin .
where ic L ,-cod deal of 1:3. ft!f Uric, p-rticuLLrly iu clzahL,
incoin and the re2aIn&i of the
but to a
eNtknt in
:ebrLyzka, at
ein' iieiued in tle
uitw 2lotriot.
- ,
que. tion of rivzarj betwecn the eitif,t; of 0mt.,hf_:.
It i
tate of
It it.
,
:<aricac City.
:
t.:120 (Ate to the LAct, that the trend of buctz.w,:m, e::ce..:1 in the
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
27ebrt,Lcza-Iyorninc:
.
c.L.)
soutria tier of caunties of 7obrzxku, alwaye hac becal by the direct
11(1. 17ect trunk lines throuj7h Omaha to Chicano and the ect.
7Jatiom1 banc of
The
.
,hc important
eb/itlka keep accounts at Onaha and 1
banks of the ::.tate, inclufAn, of ecusse, Onaha, kcp accounts in
'Jhicago L. nd 71er York City.
latione with
These ban;:c have no muturzfi businecc re-
t.
.
1:1- view of the acvo coion of ;:ffairs and of
ho recoen, ia'
tion of your (ommittee that thic petition be foaicld, it
be ad..
.
vi cable to dr7 tie hcundar1 lino ietween the :::eventh a n1 Tenth As..
tricts co that it will come thraugh a ,ortion of thc
i4
c.w of omahu.,
of t,hicacv to m‘intain a
iescrve
thuy mablinj the J:eclerc,1 .
branch bank in Gmha. 'A.th a braach of the Lamac
it,i sunk at OL1?.ha
ad a branch of the t";?1,1,f3o aml: there .0.co, the nn,ttor of collection
and cleLring cf enccs of 7ebr.sha "Baric ,
:;.ould, In the cyinion cr
your
L;ILitte, be very cowl.Aorabl:v facIliAtted v16 uclild remove to
a grat catcnt the objection which the
obri .C4.a bankerc feel to the
,
.
QuE.tment of the bounsaaries in the 2eserve
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
_zter.
.;:ecrectfLal:i cubmit1ed,
ioaos.
row"
A...
•ad.
Ana.
ev.01,
OM*
•
0173.CE OF MR.
0•
IN Tir.?,
61
7`
ILi IUN.3 0
üi
s.2
1.
.
71,
'1?etition of 12ittsb/arsh melaber banks praying
that kfittoburc;n instead of Olovsland be
designated. as the Pedoral reserve city in
District ;Jo. 4.
l'etition and bri(lf filed on beilalf of l'ittsburgh banks Salgust 1, 1914.
(B)
ClevelLnd banks notifiud by this officd September 15, 1914, that this petition and
brief had been filed and requested to designate some represent&tive to appear in their
bedalf.
(0)
Colonel J. J. oullivan deL3iL;nated to rcrreso:t
Cleveland bans bepto:abor 2Z, 1914.
(D)
Covieo of petition and brief of J..ittsburc.1 banks
scat to Cleveland Clearing house Association
f.;otember
1914.
(:::)
Roply bried of Clevoland filed Uctouer 5, 1914,
Thlts—i4._411 be'seen tnat thdnext step in this -ns-aq_is tLe d
tion of a do../ for la
-herina_by this 130ard.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2.
i otition of Balti:nore banks praying; that BaitLiore
11wtead of iliornond be designated as tile Federl reserve city in District 1o. 5.
,..,elytember 11, 1914, lialtiore filed. Dot:tic‘n
and brief.
(3)
Lieptember 15, 1914, aichmond bt..:1;, s notified
:
b. :
:
tnia office that such ;t:tition aild brief
had
been filed and requeatod to deciipato some
rer,roseattive to 4)pear in their behalf.
(.;)
;.;oliteber 21, 1914, L. 2. l'ae and Err,a
Hunton
desicnated to re9reseat alch.ricnd
(D)
Jeotombor 25, 1014, petition and
brief of Balti-ore
baalm 1ai1ed to L:essrs. Hunton and
kacm.
October 5, 191A, reply brief filed
in behalf of
lichmond banks.
17,
IL
l'etition of member. banks located in Vietzel and
T7ler Counties, West Virginia, praying; that
aaid counties be transferred fro Jistrict
• :To. 5 to iAstrict No.
Ueptembor 15, 1914, petition and brie filed
in.btkkalf of member banks of Wetv.ol and
'..Jyler Counties:
(13)
.)ct.ober
:
1914, Federal Reserve Bank of
Richmond notified that such petition and
brief had been filed and requettod to
dosinate sone representative to aj pour
A
in its behalf.
0)
October 30, 1914, pa Hunton desigaated
to
rol)resenOichmond,.YederLd Reuorve Baulz.
(D)
iiovomber V, 1914, petition and brief
of
7ietze1 and Tyler Counties =ailed to
(1
19
0:v .cae. --A -1
n b bee,. 7or-ii ki4ariag,t4a_Faaf.
-s7
4.
cc
&c
0.jr; 11, 11,
41,
7
; 1 " -r-e (
12-.0 Cet
21'.
_
on bdfore a
2'etition of member banks of southern Oklah
oma praying
tnat the territory in which they are locat
ed be
trnsferred fVom District :To. 11 to District A).
10.
: ptember 15, 1914, petition and brief filed
.o
in
bohL
,lf of the banks of saat ern Oklahoma.
()
Ni
;
71(.,
6c
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
) t
j
4
- ti 1 t'
4
(/ '
1
October :::7, 1914, Federal 2eserve Bank of
Dalas notified that said petition and
brief had been filed in behalf of the banks
of southern Oklahoma and requested to design::;Se a repres,eatative to appear in its be.
half,. (1 j d...c2.
\
i
•-.. 1
'1. 1
t) Fedora
Pririiriiiiklaltias-aeb-rrt eraT5iEn'a
.
llpear in its behz-.11:
-
r
5. l'etition of member banks in north
ern ::ew Jersey
praying that the territory in which
they arc
located bp transferred from District
7.
.;o. 3 to
lAstrict No.
lieptember 6, li14, pw,ition and brief
in
benAl of bc-,12.11.s of northern New
Jersey
filed.
cAtober G, 1914, Chairman, 2eder
7,1 Reserve
Bank of ithilLdelpilia notified tat
said petition and brief had been filed
aad requested
6 designate a representative to appear in its
.
behalf.
-
• Pr
•-
-
In.
(0)
November 1, 1914, Charles J. .,lhoads desi:nated
an representative of the Federal aeserve 2.ank
of Philadelphia.
November 17, 1914, petition and briefs of the
banks of northern New Jersey mailed to Oharlos
6) /11 .777 Rhoads.
(
t : .
,...,44,/, ,-.
. _. i_k0,41/'„,.,
,
i —
p
, ly br urnove\143_11-3,bc1.-43,,,-Iii.loacks...before 4pw nearl't.^Lla..Y -'66
—
(D)
\\,
......4
2etition of :;tewart, :-ontgomory and Robertson
Counties of Tennessee to be transferred
yl
•,,L,.:17
fron Di. _et To. 6 to Distrot :T9. 8.
/Z..
7
,..).....
„...&--1,-!•-i'.....
(A
-:..-... l
k petitionft filed in behalf
, i'
r)
...,,," ,
of banks of LJtowart, iamagonery and Robert
„..eon Counti.
___,,,), ( )
..:
,
..._.
( /
)-64.
7r brief in suwort o4 said petitLm has as yet been receive0.. l'ho
rules n rocuOidni3 69)/6 ningstop in such c%ses provicle tant 4 brief
lea vti#iinifi,ve 1ay..6 ef th4 petition. These five days h.ave
must b
/
/
long s nce_eilaii'sed.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6.
4
v
0 LA
it- ,
.
a 1 •,.,
,
.4
7.
Petition of member banks of Nebras;:a and -72, om1n;
f
r;
to be transferred from District 1-Zo. 10 to
District No. 7.
Petition in 1331-lair of the banks of I;ebrasL:
and 7:Toi:Ing filed A)vmber 14 ana brief
in sup:.ort the:1%0f November 17.
flovember 17, 1)14, Aderal .110:Jorve &in of
Kansas City notified that said petition
and brief haa been filed and reoueste:,
to desiGnate 411 0 representative to apIoar in its buhalf.
"--Fesr
i
-
I.
•111
)
.
,
•
-t
•
I.
,:rict :To. 4.
2inancial supremacy in
Clevel+nd.
Pitzseareh.
istics:
Banking stat
(7 mernbcr - ba- ks)
n
(27 meiber`banks)
.
14,400,000.
53604,000.
Surplus
Capital ez
,805,360.
45,00,000.
De2osits
10,317,025.33
25,807,327.49
6A.0/14
Cash hold
Clearings for
Bank
•)1,271,232,000,
/ 0/13e32,951,861,300.
year ealing 9 3
tal and surelue of Pittsburzh. banks exceed tott1 capiCaei
-bra and surplus Of 11 banks of the six lereest cities of
Ohio; and that withina'75rnj1e radius of Pittsburgh 'All
of the banking ca-oitel and eurelus of Disbe found 50
trict 1:o. 4'.
1.
•••
an
District lies in the middle
2ourth Federal _Zeserve
, and that the lines of trade
east and west trade movement
er than through Cleveland.
run through 2ittsburgh rath
west through
O. and Penna.) run east and
?wo trunklines (B.
reels east and west
C.)
PIttsbureb.; 111.1e only one (_:. Y.
as a whole than
eittsbureh is more accessible id() 64 District
conditions,
is Clevele.ad,-and, deine to geocsraehical and ran/ay
from
the state o-f Ohio- can be served. eettereeealer--rcl.re......eLlic141Y
ntaeL in favor
Iittsburgh than Zrom_Clevelend, and the adve
tile other eortians of the
,of Pictsburreh is even greater for
rict are
District; bankers -in Ohio and over the entire Dist
business with Pittsburgh than
transacting lecree
eland, and the bankers are in the habit of joing
with Clev
ence
to Pittsburgh rather than to Cleveland. Cites as evid
(or CieJ)
mcmber banks
a etition signed by 476 of the
District uo have Pittsburgh designated instead of
in the
Cleveland.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-.....
•
...
. .
.. .
.....-. ..
,....
.....--.. ,
-----....--.:.............._-,
-ai.-.......:.-.....1,
.
.
.
..
'
..
FILE NO.
I.
.
Industrial. and commercial supremacy in District .1.o
I.7
.;Anufacturing (metroeolitan district) and popilatien.
Cleveland.
Pittsbur-,ct
,
Caeital Enr e'red•
e236,911,140.
642,527,046.
.
201,992,1'.31
578,015,493.
Value of Products:
(metroulation
613,270
1,044,743
eolitan district)
d., but that the•
lize
Claims that Cleveland's business is loca
gh has world wide market, as it is the iron and steel
Pittsbur
d of ;:,he bituminous
center of the world; produces one-thir
the home of the oil and
coal mined in the United States; is
roduce 177,000,000 tons of
gas business; it industrie
freiht per year.
t-
/a. A. C. MILLER
C.1.41:1 r...L'S Wig OF
,
banks are fewer in narebvr, in toConcedes Ghat ileveL
, etc. sillai
-.4oweVer, ,t_o have conservative
tad ca ital
-Lcine, \-Ti th no -H 3.onalrai1ures of record as in
and safe b&Ja
Pittsburgh.
.
Claims that bank clearings are laot :ero-oer basis of coerearison between cities; attributes cAtkpardetive low clearings of
excattlel1 rirts%urtims, howC r2; .
,
. hete
t
Cleveland to absence of a stock
y of clearings
ever, greater stabilit
's recoitlt one of steady, regs
Lakes the point twat Clev land
e that of Pitts"uurgh sh s wide fluctuations.
ular growth, whil
materially from those
.leeares regexclin,csiaaaufactares differ
m
Pittmersh, a parently not being intendeu, phz
,leiven by
rict. The followine
60 include the metr6-oliton dist
,.arc for 1909:
Cleveland.
I ittsburedA.•
Ca)itel Ilivested:
;,;;227,397,J00.
,300.
e203,139
271,961,000.
Value of froducts: 243,454,000.
.
e 0-.: increase in manufactures from 1899 to 1 939
poentez
i..lud for Pittsour3h 11.1 _er
was for CleveLad 95.1 per cent,
y overtaken and eassed 2ittscent, so Cleveland has 1)robabl
bursh in this matter.
Population in 1910.
.
Cleveland.
Pittsburh
Excluding Trietroeoliton
560,663
533,905
United States has
the
facturine center in
a condition '..hich
stries as Cleveland,
indu
Irnil)L'IA15i
of ite steady and conone ef the principal causes
has been .
growth.
sistent
enters Clevein the United states
III. :very eastern ‘;runkline
of travel bethe -eeineipal highway
6
land, and - ,:ey.t is in
is in the most .-irect line
tween."Tew Yorictand ;12i.caeo: 1.
barL;h
hwestern states 0 itts
froM the iron Ore of the nort
:0. 4; althoeLeh
s of District
and the bitumiaousecoel deosit
of the District,
on the extrenn northern edge
Cleveland lies
„a
the le,ke 6,3ceegAa_gliyor ezaljt'
-,:rays
work of rail
.the district there is a net
territory; in
i's evidence that .there
h, eilich, in itself
from north u o sout
II.
e'
direction.
trade running in that
e.ccessiblc to ,AE
are
enient or
no l
d.L ,. ...1tisZcrlit Ii n : conv
is ClevClevelan
2
art 0-. the District Alexi
u_le
greeter
required uo
be
OhiO.en reade, and the time
ed.
ott determin
S us ci6i 5 in th%It
reach- Go
Pitts'earil.
has
Cleveland.
ever
ale.ti on
8 (po ,
(37 cities of
-)oeulation) e9 0)0 oUlatiOn
143,000
10,000
1,907,000)
:::io
NentuclZr.
(11 cities of ever
i
,n .
e
5, rms31 z., ul
2 O00 -col) iat on)
10
1
(22 cities o: over
19
event
10,000 populAtion) 3
Pittsbur34, and cons
ter demand :for ,:ands in
Tio corGrea
t.)y vlv 2itte.beer o: b
.71 .
z- 7/1 7 Titsieltes alloweci .
excess
for any
rict.
reseondents, is reseonsible
in the Dist
transacted there by bankers the reserve city in -tile
ness
chaimge in
and
"eersistcnt drunaine;,"
Signatures favoring the
red by
the bank
been secu
of he 476 of
District have
uhet 304 out
further,
Pennsylvania.
mean little;
from banks in
were secured
sienhtures
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BEFORR THE
F=FIRAL RYISF.RVE BOARD
IN THT1 MATTSR OF
OF ?IR1 NATIONAL BANK OF CLARKSVILLB NATIONAL
PRTITION
BANK, OF OLARKSVES, TUNIWEE. SPRINFI'MD NACJCBAL Bida
AND PE0PLE:1 RATIONAL BAla OF SPRINWPILD, alifiESSEB, FOR
,
LI:4ITa OF FEMRAL 11:11 SRVE
0EANGn
DISTRIOTS NOS. 6 AND 8, AS DETERMISIED BY TIE ORGANIZATION
00:
11MI!,‘TZIE.
ANSO,R (); BEIti,LF OF TH7. FP.DP,RAI RESERVI BANK OF
ATLANTA (DIST;i1OT NO/6.)
TO Zit% FEDERAL MSNRVE BOAM):
Edward T. Brown, Deputy Chairman and Deputy
Romervo Ant of the Federal :,eServe Pink of Atlanta, the
representative dul
apf.ointed kr the Poard of Directors of
sAid Bank to appear and answer the petition of the membr
,
.
banks of said .Aederal :Reserve Brink of ..i.tlanta above named to
review the assienmont by the Organization Connittee of said
be.nkt to Federal :A:erve A.Etrict ,o. 6, and to alter the
,
linen of said District so that said banks above named
shall be included in Federtil Reserve District No. 8, hereinafter called RespoAent, makes ammer to said petition as follows:
-1(a).
The Pederal Reserve Bank of Atlanta, comprising
District No. 6, contins 372 national banks, and would
have resources from etTittl stock on this date of 4,710,C00.
stock
if ,he ontirn (Iipital/hEW been paid in tull. At the prosont
time only ono-third of said capital has been paid in.
It
Grol
capital, thgrel:ore, is the smallest amount of any
of the ranks in the Reserve system, and but little in excess
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(2)
of the required ninimun of ,4,060,000. fixed by the "Zederal
leserve Act.
Respondent is advised that the capital of the
First National Bank of Cdarksvillo, A)nnessee, is the sum of
4100,000•00, with a e,urblus of v75,000.00; Clarksville
National Lank, capiT-1. 0.00,0G0.00, and surplus '330,000.00;
.
4ring.eiold .41tional Bank, capital
60,000.00, and 'surplus
o60,000.00; the Peoples Jational Bank of :Ipringfield, capital
400,000.00, and surplus ;20,000.00.
The aggregate contri-
bution of these .our petitionirg banks 'i;her fully paid to
the capital of the said Bank would be approximately the sum
of (90,000.00.
If said Banks Irero removed fron the vAxth to
the Eighth District, it would reduce the gross capital of the
Federal Reserve Bank of Atlanta to approximately the van tf
#4,620.0cOac)0, v4hich sum would be only
the minimum amount required.
620,0.u0 in excess of
Respondent submits that these
figures alone tarnish a very strong reason why the prnyer of
these petitioning banks should not be granted, because if
these banks are withdrawn and it for any reason only a very
few of the larger banks in the district should discontinue
business or withdraw fron the system, it might easily be possible Tor the capital of the bank in the sixth District to
be and becone reduced below the nininum fixed by the Act.
iespondent further shows to this honorable Board
that the iederal Wserve Bank of Atlanta la the midst of the
eh8tern part of the cotton growing section of the ''.outh,
and the demands upon the resources of said Bank, in properly
financing the cotton crop annually will be considerable, and
who:. t , these demands there is added the normal annual
demands which will be made upon said Bank by those engaged in
other agricultural, industrial and connercial pursuits in the
section, it is evident to respondent that all of it
resources
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(3)
nd.
will be in constant use and dema
for this reason
Respondent says that
reduction
any action which would result in a
in the resources of said bank
of the capital and consequently
stigation and scrutiny before
should recetve the closest inve
urges that for the
being put into effect, andrespectfully
n should be made or
reasons already stated no such reductio
necessity, and it is
allowed, unless in case of imperative
pr ,sented by petitioning
respectfully submitted that the case
character.
banks in this instance is not of that
(b).
y
Respondent calls attention that evidentl
idered the Tennessee River
the Organization Committee cons
by reference to the map
a natural geographical boundary, and
ced that the western
of Tennessee it will be readily noti
along said river,
boundary of the sixth District is fixed
e.
with the exception of the County of Wayn
-24
necessary
Respondent is advised that it is not
ons generally
to answer specifically many of the allegati
stated in said petition,
Admitting that petitioners are
Tennessee and
located in the tobacco growing sections of west
reasons are adKentucky, yet no satisfactory and convincing
Bank of Atlanta
vanced by pttitioners why the Federal Reserve
lawful demands.
cannot meet all their reasonable, proper and
said Bank can and will
On the contrary, respondent says thai
ents.
take care of all such demands and requirem
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
'4)
(a) Petitioners allege that the to
of
Clarksville and the town of :pringfield are served by the
lines ol the Lovisville and Dashville Railway Company, and it
is here shown to this Honorable Eoard that said Railway
Company likewsie supplies lines of connection between Atlanta
and said two towns. The distance from Atlanta to Clar'r:eville
and Fpringfield is approxinately 350 miles, v;hereas the distance fron si6 two towns to
$00 miles,
t. Louis is Approximately
so that the distance from Atlanta to said two
towns is practically the same distance from said two towns to
et, ,Louis.
It this petition was granted, said two towns v;ould
be orly be about fifty miler nearer to the reserve city to
which they would he then attached, than they are to Atlana.
,
Respondent showt, that at the present time nail
and express natter leaving Atlanta as late as 4:56 P.L. arrives in [;pringfield the next norning at 8:26 A.. an
at
(;larksville at 9:34 A.il. and such matter passing in the reverse direction from ipringtield and Clarksville to Atlanta
moves practically within the same lilts of tire. Both mail
and expres
natter passes to and from Atlanta and said two
tnWns practically over night,
and in tire to he received
and handled in the early morning of the day follov;ing.
Respondent is advised that no greater facilities as to mail
and express or tranerotation vould be enjoyed by petitioning
banks if they were attached to the Eight District than they
mu enjoy at Atlanta.
,
(b) Respondent L. i.clvised that 741110 it may be
true that tobacco tarnishes the principal commercial crop
of the section in which petitioning banks are located, and
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(5)
thktt a large percentage of said crop is exported to
:European countries through Nor York, yet this cordItiot of
affairs Is net exceptional vith the tobacco crop, but i
true
to a very great extent of many other comroditios produced in
the Sixth and other Districts.
Respondnnt cannot ;1gree that
it liould facilitate the business of petitioninE banks for
these tobacco transactions to -13V0 wstard through ';:t.Louis
merely because the larger part of tha tobacco
is attached to the Eighth District.
rowinc sectien
Respondent can rot
agree that the mere coincidence that two of the Directors of
the 3t.1iouis Bank are familiar with the details of how the tobacco business is conducted furnishes any good and sufficient
reason why petitioning hank v should be attached to the
Eighth rather than the sixth :::istrict.
(c) Respontlent says it IE true that the
Federal Reserve Bank of ,Alanta
i1l probably l'wv, derands
?.
of large volume upon it during the season when cotton is
being harvested and roved in Lhl section which It serves
hut taking into account the capital an0 surplus of petitioning banks in this case, the probable aggregate anount of the
legitimate denands of petitiotAng banks upon said bank will
not likely cause said bank any embarrassment in meeting the
same, wheather it be true or not that cotton and tobacco are
harvested and marketed at the same tirre of the year.
The cotton crop as a rule is harvested and narketed commencing in
ugm t of. each year and extending over the fall months
an0 probablz: into the nonths of January and Yebruary of each
year, although as a rule much the larger part of cotton has
patit44 out of the hands of the grower by the first of January
each year.
Respondent respectfully calls attention to the very
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(6)
able brief preEonted on behalf of Louisville, Yertucky,
to the C.rganizatton Committee by thn Honorable 011ie M. Janes,
EonoriThle
imager Aloriny, Honorable Richard W. Knott Fqnd
HonorEtble John ';
Earr, Jr. and printeC in :*enate Docurnert
485, on page 187, Tron shich respordInt quotas as follows:
"Tobacco is different from other crops in that
it does not go to market in the fall along with cotton, corn,
atc. The season beeins ir Doce77.bor an0 erztenOs thru March,
depending largely or. 14enther conditIons. Ao call be at once
seen, it, like whiskey, can be moved after the rinch in the
'ttrplus funds from tobacco sales can
cotton section !ts ovor.
find employment in the onth during the planting and growing
season."
if those gentlenen correctly state tho natter,
the tv;e crops are 1- “-Irketocl
.
flif;erert periods of
at lest in large rart.
Responaent further calls
attention to the fact that the banks of
he year,
t. Louis probably
have heavier and greater dommds upon them to move the cotton
crop than Is true of .AtlantL., he beine advioed that the St.
,
Loris banks supjy in large part the c,tpital noctiosry to
move and handle eo muo7o, of the cotton crop a
i
raise
in
that ':tate, Arkansas, and the parts oi the :tatoil of Tennessee
and Apsisnippi 'which are in the cotton belt.
If xtivpondenti s
information iH cor.rect, p,n6 he st:!firm2 thit it
col.rect,
the 1A,. Louis Reserve Bank would be confronted vdth the same
,
difficulty which petitionerf allege now confronta the Atlanta
Bank in regard to the natter of furniuhine funds to move the
cotton and tobacco crops at the samn tine.
Therefore, no
advantage %ould be gained to the petitioning banks to be connected 74th the :it. Louis irstead of the Atlanta Bank in
these respects.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(7)
(d) Respondent shows that petitioners allege
that "Unmistakably tho trend of the business of the to
;
t
comnunities is northward, less than r of the business being
::',outh of ilashville, :eennesvee."
If thi
is true, it is
difficult to understand how their situation would be bettero6 if the banks were atached to
t. liouis, which lies
almost due west of both Springfield and Clarksville.
IT the
trend (“ the business of the two communities in unmistakably
northward, it ';ould seem more logical for petitioners to be
attached to the Cleveland Bank than to the St ;Anis Bank,
but respondent insists that for reasons already stated and
those hereinafter stated, it is not necessary for petitioning
banks to be removed to either of said reserve bank cities'.
Respondent is advised that all of said banks do considerable
business with the banks of ;lashviTle, Tennesvlm, which is one
of the irportant cities attached to the Federal Eeserve Dank
of Atlanta, and shows that one of the Directors of the Pederal
Reserve Bank of ttlanta, Hon. W.H.Hartford, is a citizen of that
city, vihich is situated very near to Clarksville ;:nd Sprrgfle1
(less than 75 miles distant).
His knowledge of tho business
oonAitions of that territory will make it easily possible
for the Alderal Reserve Bank of Atlanta to become accurately
advised of the needs and demands of petitioning banks and all
others therein,
lether there be anything unusual or extra-
ordinary in the nature and course of busines
in said section
or not.
In addition to the foregoing, respondent is advised that
very much larger per cent of the business of said
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
(8)
two comrunities is south of .Nashville than that stated in the
petition, and asserts th0; investigation would disclose this
to be the fact.
It is naturlly very difficult to obtain exact
statistics on such a natter, but respondent is advised that
,
,
a very considerable amount of business in said tc. cov unities
,
is toward the ,' au.th and not ilorthward.
Also respondent
states that petitioning banks on account of their location
close to Louisville, one of the i'vortant cities in the A.ghth
District, as viell as to Nashville, one of the irnportant cities
in the A.xth District, are virtually enabled to utilize the
facilities of both of these banks, the Alanta Bank directly
and the
t. Louis bank indirectly.
said banks doing business
with 1:ashville, send their checks on Louisville to the babks at
Eashville, and in -ptzrnent of these checks Louisville sends
the flashville banks checks on the Reserve Bank of
Lords,
v,hich checks in turn are sent bz; the i;ashvl'le banks to the
Federal Reserve Bank of Atlanta for credit, and recently
interchanee of business of this character resulted in the
establishment of a credit balance in favor of the Federal
Reserve JAnk of Atlanta against
0,000.00.
rangement
t.
ouis in excess of
No reason is seen by respondent rJ1:7 this ar-
114 interchange of financial balances cannot
continue, and it results, as stated, in petitioning banks
and others 1.n their neichborhood enjoying the credit facilities of both the ,tlanta and the St. Louis hserve Banks,
the former directly and the latter indirectly.
Respondent
Llo ells iltention to the vell 1.7nown
fact that large amounts of tobacco is no*.N being raise
in the
ttate of ;:torida, and the peculiarities of the tobacco industry
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(9)
in general, if any exist, will necessarily have to receive,
and in fact have received, the careful study of the officers
and directors of the Atlanta Bank.
(e) Purthnr answering respondent advises that one
Of the petitioning banks, to wit, the Peoples National Bank
of 4)ringfie1d, hat. aread,7 and FiTICO the firct of January,
1915, availed itself of the facilities offered by the Federal
Reserve Bank of
tlanta and has aplaied Tor and obtained a
loan from said bank to the extent of
22,000.
Respondent says
that the officers and directors of the Bank found no difficulty
in accornodating said Bank, as one of. its nenber banks, and
easily and readily and quickly reponded to its request to
participate in the discounting privileges to the extent stated,
and said Bank, through its proper officers and directors, is
ready to likewise and sinilarly rerpond to all of the ordinary,
legitimate and reasonable demnds of said banks when called
upon in the future, whether by said Peoples Eational Bank, or
others of the petitioning banks.
1
-3Further answering, refpondent says that the
relations of petitioning banks with their correspondents will
in rao wise be altered by the operation of the Federal
Recorve Act, or by their being placed in the A.xth or the
Eighth 1t1dor1 Reserve :istrict.
St is true they will be
expecti4d to keep the reserves required of then under the Act
in the 'Woral
,tlanta instead of in the
clEerve
Federal Reserve Bank o?
Louis, but there can be no
serious inconvenience in this.
If the pr;iyer of the member
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(10)
banks of :q)ringfield tiff OlarksvPle IF granted, doubtless
other similar pitltions ir
.
.Aserve .istrict And ir other
Reserve )Astricts will he presented to this lionorable Board,
and if thit or othfIr sirilar petitions are granted, so far as
,
the loderal Reserve
tlarta is concerned, it uill
at once bring pronirertly itto view the capital requirerrIrs
of vale Piank ar measured by the terms of the ' deral I.':erorve
,e
.
.Act.
one can doubt but that careful consideration
.
.xak Elven by the Grganization ConrIttee to such matters
as
convenience, accessibility an0 the trend of 4nsiress in the
apportionment of the various Tdstricts, anC the selection of
Reserve
Cities.
This wat a duty imposed upon the Organiza,
tion Committee by the .1dera1 Reserve Act, F,ection 2, uhich
Is as follows:
"That the JAstricts shall be aportioned viith
due regard to the convenience and customary course of business
and shall not necessarily be co-torminws vdth any :::tate or
States."
In detlrrllning what regard was paid to this proVik,':ton of the Act by the OrEanization Committee, no better
,
wa;.; can be devised than to quote fror the report of the Comnitee itself.
kaid. Oormittee said:
"Among the nary factors uhich governed the committee in determining the respective districts and the selection of the cities which have been chosen, were:
First. The ability of the nenber tanks within
the Oiwtrict to -provide the minimum capital of ;4,00,000.C,C;
the capital stock and surplus of menber banks within the
district.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Second. The mercantile, industrial and financial
connections existing in each district and the relations
batvalen the various portions of the district are the city
selected for the location of the i4)deral hoserve Bank.
Third. The probable ability of the ]:oderal - tasere
.
Bank in each ditrict, after organization .110 after the pro.ect,
visions of the -;:ecieral LEmerve Act shall have gone into e;
to meet the legitinat-, demands of business, Ahethar normal or
abnormal, in accordance with the spirit and provisions of the
Fed.oral leserva Act.
Amrth. The air and eq4uita1)le division of the
e capital for the iederal ieserve Banks among the
availabl
diEtricts created.
Afth, ao general goographicl situation of the
district, transportation lines, and the facilities for
sreedy comlunication betveon :'sderal Reserve Banks and all
portions of the district.
Alcth.
Wsines: activities of
manufacturing, mining,
and devolopnent in the
The population, area, and prevalent
the district, whothor agricultural,
or comtrercial, its record of growth
pact and its prospects for the future.
'Jr determining the several districts the committred to follovi tate lines as closely as practiee has ',endeavo
cc.ble, v.nd vihenever it has boon found necessary to deviate
the division has been along lines which are beleived to be
"
mo,Ft convenient FIld advantageous for the district affected.
In explanation oi their decision as rendered
,
OA April 2, 114, fror vihich these excerpts are tken, subpequentlzi thn sid C.ormitt6e nad :1 a further statement, :Tril
1Y14, to mhich attention is called and in v:hich they
rea Uirn the above.
;hen due regard old considevatirin is given to
the very thorough study
yd investigation of the subject,
the great care which was exorcised Iv :he Organization Committee in the performance of its duties in the laying out of
the country into twelve districts, there must arise a strong
presumption that thn verzi considerations
by the petioning banks ir. MA.F, cai:e
hIeh 4i.x.e advanced
::1;ly passed upon
i
and considered by s9.- d Oorrittee, firC. the attaching of peti-
tioning banks t
the :.ixth District instead of the :ighth
D5strict vas doliberately done.
It will be presumed at least
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(12
prime fa(!le t.t
ai
Comnittoe considered the fact that
Aotild enjoy eoual if not the same mail,
petitionIng banks ,
express and transportation facilities if attached to the
Atlanta District an they vq,uld i
Dj.3trict
attached to the
t.
ovi
they themselves
ar4ci their principal busiress,
novi allege, constJtuting only a small portion of the tobacco
erop, the Dank at "tlanta could hirnish them all reasonable
and proper rediscounting and accomnodatiors, notvdthstanding
,
tho fact th t s;10 bank would likewise be cAlled upon to
furnish sirilar accommodations for the cotton industry and
El]. other agricultural nnd comnercial industries in the section.
Respondent respectfully submits that the decision of
the said committe rhovld not be lightly altered or overridden.
Respondent insists that there has not been sufficient time as
operation
yet to determine what will be the result of the
in the districts
,
Of the banks under the Federal Eeserve Actx
ied thnt
an they are now made, and it is respectfully clal,
sufflelont
no thouTei be given to the prctical operations
under the Act in tho A.stricts as now formed
Ichother it is av effective, wricient
woule, be if thelr boundaries
All of
V;0:2:9
rd
to determine
atisfactoxy as it
ch6nced.
ich is respectfully subnittod on behalf
of the Yederl Reserve Bank of JAlfinta.
Deputy (rftairman.a-nd Deputy Reserve
Course1
gor4t.
OFFICE OFI. A. C. MILLER
.kii4E
cincis 1011 C ON 'EC r.2 iG172
ao
c Lat
TIE
UNDER
RUM
SYSTEM.
F.M.z
?
NO
Jent Status
Gonnocticut banks are members of the Federal PLeserve
ces there at minimum
Ban:: of Boston, but keep their reserve balan
one or more "reserve
figures; while doing thetr. actual business with
agents " in New York.
Their liei,uost and Argument :
They ask transfer to New York because their relations
with that city are closer,but they state
(1;.) That they might or might not clear
through the Federal Reserve Bank of New York;
:
Problem
in
(b) That in any event they certainly would
retain one re,erve agent, each, in New York.
the clearWhat are the merits of t.e Connecticut petition from
?
*
*
*
* 44
*
*
Analysis of present practice.
classified as
Items received by Gon;lecticut banks are
(a) New 1. rk;3.and item°, and
(b) all other.
ed through Boston. The
New England items are satisfactorily clear
argument relates to other than New :nglanditems.
in Boston sub2
If items drawn on New York were de- 1 sited
2.
e a reserve
to secur
ject to immediate credit the result would be
reserve
quickly as if they were deposited With a
credit quite as
( interest on baleator
agent in New York and the cost would be,,gr
Connecticut bank
disregarded). In this case, however, the
ance°
Boston exchange instead of
would ctonvert its incoming items into
would lie entirely in the
Into Now Yor exchange. Its disadvantage
red with Ne York. These
disadvantages of Boston exchanged compa
at present are non-existent.
s to reserve
The practice at present of sending check
3.
tageous or preferable only
agents in New York is, therefore, advan
in the following ,„articulars
(a) 2;; intcrest on balances
(b) services performed free by N.Y. reserve agent
checking paper, buying investments, etce
(c) Ease of personal access.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
a
jiWation if transferred to New York.
the most part
1. Connecticut bankers nave declined for
as to use of the clearing system
to cOmmitthemselves
in the event of transfer. Assuring that they adhere
to this position it is clear they would be in the same
relation to the reserve system after transfer as they
now are 1. e. they would merely carry a "dead" balance
with their reserve bank.
plan
2. If they entered the clearLig system on the present
, they would get immediate credit in
of imnediate credit
New York at the sane time that they now do in Boston, i.e.
opening of the business day next after mailing the items.
There would be no apparent difference in expense as compared with what would be incurred were they to join the
clearing system in Boston today. They would in such a
case get a credit with the New York Federal Reserve Bank
instead of with their present N. Y. reserve aren't.. Conversely, checks drawn on them would be cahhed by the
Federal Reserve Bank of New 7_ork and they would have to
provide fanas by dep_sitin their New York exchange with
the Federal Reserve Bank of New York. Their situation
would be practically tho same as at present irith their
use of reserve at;ents, except for the loss of interest
on balances.
3. If these banks be transferred to New York and made members
of the clearing system, the checks drawn on Connecticut
cashed
banks would be More ,uickly ( ixobably one day
they were mebers of the Boston clearing
or cleared than if
are
system, since it is assumed that most of such checks
in circulation in New York. This would be
drawn or placed
ticut
a disadvantage from the point of view of the Connec
may account for their unwillingness to undertake
banks and
to join the systems
Situation, under proposed new system
on the Rowe Pla n with comoulsory imnediate
credit inside the district.
1. It is assured that under this plan checks would be sent
direct to the Reserve Banks of the districts on which
e
drawn; an advice going simultaneously to the Reserv
the sending bank was loBank of the district in which
the Recated and credit being given upon advice from
chocks were sent.
serve Bank to which the
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Idoeas*
2.
3.
ticut banks would get
Under such a system the ConJec
ir advice was recredit in Boston the same day the
New York simultaneceived as the items would roach
or pat through the
ously and be at once charged off
the Connecticut
Clearing House. Checks drawn on
New York who debanks and deposited by persons in
place would
posited them with banks in the latter
k for collection
have to be sent to the Boston ban
the following
or clearance and would reach there
ck as if they went
morning. This would be as qui
through the New York bank.
be true that the ConnIn this' case it would still
late balances in Boston
ecticut banks would accumu
disadvantage would be
instead of :;ew York. Their
age inherent in having
limited to the disadvant
Yor;c exchange.
such exchange rather than New
0.1:TICOF MR.
FILE NO.
WHSRMAS, The Board received on
on appeals from the action or the
gliALER,
./D
arch 9th reports of its sub-co:Imittees
eserve lank eirganizetion Committee nffocting
the boundaries of certain districts, and,
71102t1IA5, In view of the sudden illness of the secretary of the Troasury
the hoard decided to take no action on thnse reports before ,pril 15th, und,
WHERFAS, After a further delay of three weeks it is deemed to Fe unfair
to the petitioners end prejudicial to the interests of the l'ederal
eserve
ystem to defer nction any lonFfir, and,
'.110XAS, The heard is in e position to act with respect to four of the
petitions on the baeis of .1n experience sufficiently Oinracteristic and
extensive tc show wherein certain readjustments in the boundaries of the
Yederal teserve Districts can be made which would bring thew into closer
keirmonp with the "convenience and customary couree of besiness";
TWIFYORE, BS IT MSCLUD, That the recowlerviatioes of the cubcommittees eforesaid be adopted and npproved, irtd tli-t the petitions of the
banks of southern Cklahomft, northern new Jeremy, Tyler and Vetrel Counties,
est Virginia, he minted aid that the petition cf the banks of 'oyoming and
Nebraska be denied; and,
PE IT FURTRER RESOLVRD, That action on other !)endin,,, petitions Le deferred
until further experience in the actual operation of the several districts,
after the new clearing eyelem shall hove gone into effect and after it shall
hnve appeared to what extent the operation and developmxnt of the Yederal
Reserve System will Fe affected by Vie membership of state banks, shall hrve
supplied to the l'oard the necesmary data for mnkinr rondjufttmenta in accordance
with the "convenience end customary course of business"; end that it is the
opinion of the Ionrd that action on the petitions relqtinr, to the change in
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-2
Yourth end l'ifth lAi;tricta
the location of the Vedsral 'Aoserve lAnko of tho
have reached a ez)nclusion on the
should be deferred until the loard shall
s in the boundries of the several
basis of experience as to whfA readjustment
cts are necessary to the offecdistricts or changes in the number of distri
n.
e
tive operation anrj development or the 2scloral Aiserv ;..yster
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
OFFICE OiF
.. A. C. MILLEarkn 3
FILE NO.
WHEREAS, The Board received on
O n appeals from the action of the
arch 9th reports of its sub-committees
eserve Bank Organization Committee affecting
the boundaries of certain districts, and,
AIEREAS, In view of the sudden illness of the Secretary Of the Treasury
the hoard decided to take no action on these reports before April 15th, and,
4HEREAS, After a further delay of three weeks it is deemed to be unfair
to the petitioners and prejudicial to the interests of the Federal %eserve
yetcm to defer action any longer, and,
wif
ci
/
- ;HEREAS, Thl Board is in a position to act with respect to f-aur-of the
;
PO'ytt f. •
q
)
petitions n the basis of an experience sufficiently characteristic and
extenoive to show wherein certain readjustments in the boundaries of the
Federal fleserve Districts can be made which would bring them into closer
hnrmony with the "convenience and customary course of business";
MOW, THWFORE, BE IT 1tSCLV7D, That the recomendations of the subcommittees aforesaid be adopted and approved, and that the petitions of the
banks of southern Cklahoma, northern
ew Jersey, Tyler and Wetzel Counties,
°1114q. rest Virginia, be granted and thatithe petition of the banks of
A
yoming and
Nebraska be denied; and,
BE IT
,
THER RESOLUD, That action on other pending petitions Le deferred
until further experience in the actual operation of the several dietricts,
after the new clearing system shall have gone into effect and after it shall
?rive appeared to what extent the operation and development of the Federal
Reserve System will be affected by the membership of State banks, shall have
supplied to the Board the necessary data for making readjustments in accordance
—it- is -the
with the "convenience and customary course of business"; and that
opinion_of the Board that action on the petitions relating to the change in
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
the Fourth and Fifth Districts
the location of the Federal Reserve flanks of
shall have reached a conclusion on the
should be deferred until the Eoard
44-laiv A
,
ments in the boundaries of the several
basis of experience as to whet readjust
cof districts are necessary to the effe
districts or changes in the number
Federal Reserve System.
tive operation and development of the
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
PE IT FURTHER RESOLVED, That action on other pending petitions be deferred
until further experience in the actual operation of the several districts,
shall have provided the Bo-rd with the necessary data for making readjustments
frand customary course of business" and
in accordance with the"convenien,t
especially until after the new clePring system shall have gone into effect
and it shall have appeared to what extent the operation anddevelopment of
the Federal Reserve System will be affected by the membership of State banks
therein; and, furthermore, that it is the opinion of the Board that action
on petitions relating to changes in cities desi.lated as the location of
. ,
Federal Reserve Banks should be deferred unti2he Board shall have reached
P
7
4
a conclusion from experience as to what further and general readjustments in
the boundaries of the several districts, or changes in the number of districts,
are necessary to the effective operation and development of the Federal Reserve
System.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
WHEREAS the Board has received on
4
OL(.1' /44.'44
repqrts
ellt4 •
41;;Ailif,t
A
,
from sub-committem concerning tt-ite re
di-atr ie-tAng-leT-- four
k-ft- got.A.4.4464*districts,cAnd WHEREAS in view
of the sudden illness of
esyr?tiv7Z,
,1
(
Secretdry.ycAdoo action
these reports has been suspen
ir-t4
(
d',AA43
ed
fifteenth, an TIEREAS after
a further delay of three weeks it is important
noi, for several reasons,
that action be no longer deferr
ed/BE IT RESOLVED that the
A
(14
dor
-o-4
4 zf'
-recommendation of the
sub-commfttees be approved,
evefflArimir,,.
the petitions of the banks .of
Oklahoma, Notthern New
Jersey
Tyler and Wetzel Counties it Olf —40 i
$i,t 4
e ,
and
; and A4.-84-±las. the petitions
of the banks
of Wyoming and Nebreskaw6K
BE IT FURTHERMORE RESOLVED tha
t 40. action on other
pending petitions be postpo
ned until a full year of act
ual
ik,
operation w±.'have furnis
etivi
hed to the Board
experience, bOth as to the ope
bot
ration of the Districts aft
er
L.
ot6
clearing syStema411 have gon
e into effect and as to the
final scope and importance of
each district, as it wil
l appear
after the State institutions
IlikTf" have had full opportuni
ty
of joining the systeT.
The decision on the petitions
„IA(
4 4
-t
et ;rt.
t• y,ok
e4
A:4 -s-he
-Baltrimore-verette-Meirmend
Aetii
ltArt°
1
, shorn, in the opinion of the
Board, not be
acted upon before,.
ye-lar-ek.lem, the Board
49-±11 have reached a con
clusion upon the general qu
estionp"
,Arcil whether and what
boundary lines of the dis
tricts, or the
.4
number of them
4
shall be readjustedl
q:_
\,
)
\ZIN
PMW-5-3.-15
r4.0
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-4
/1
••
•
'
/--
nrsoLuTio 1.
,to 7'
Orrcxtiziitirn Cortiplittuo02111 1 clo1,
ayt.Jm 21's p1ci,oci,1 a 1c:x.0 r;octlori a ORLi,
ni)JarVO
2CI In Diptlot
T!3.
opi. v1t of tha
,
:11c4
A.th hoatim,rtort;
iiion oZ
ou=onoy 1-t;u1
otato rio.L soc tho
nd ii13. ir itc.intirtafa,
c;ro.L, LIjury to the; flniJicil
,t
zu
rii oonnorcit-a Intoron,
or thia 3ttO, £flC buoinooG to run in o:
,
:t,i.:ano3.3 oppooito
uaturtil opur;;;(), thus) inourrinc
tc,
loaf; to mu' bc41k11 :Aad
nnvonionco
121,
pocy2o;
ThatAxioolv.tion urc upcn our Com.
,
1Jors z-,nd Repronttivo
roc,:tiniz upol thon
in OoncroJla tho doop oblif34:tion
oto to 3°6
r(v2„.djuotnont lo
.1.f.
.rootod ao thctt n11 of Oklhona will bo in D;triot
IttAt thin. A vi
ittlort iond
,
mittoa or throo to bo named by tho Preaidont. (:,:flo of wIlom
oilta:!. be to C000try, 7. D. Tbrrieon, to 77nohinton
floon cLo no Foglorl n0:10TV.C. T10CI io orgnizod to proont
to that nra tho praotio6Ily umninow proterAt of cal tho
ly.
,,nko
or
Okltthoma :1,ca1nat tho -prow.mt
or with cmoh foto
ocoth-
itiotin
c
,u1d influcmoo t;10 R000rvo Boxa
to oorruct th3 rAL.
.itkohithbf:c7o. md0.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1.1
MO.
ow.*
anew
.11.1/1.
OM. .11•11.•'
•01.11
/2,2
RESOLUTION
OF
PROTEST
Whereas the organization committee of the regional bank districts,
have, in their judgment seen fit to divide the state of Oklahoma,
thereby placing McCurtain county in the Dallas district, and
Whereas all the natural trend, and channels of business from our
county is toward the north and east, and never has been, and cannot
be handled without great inconveninece and loss,if diverted from
the regular channels to which we have become accustomed, and which
most readily supplies our needs, and,
Whereas our business relationship with Kansas City is of long
standing, having applied to our corespondents a, that City in many
times of need, and having always received from them most satisfactory
treatment, it would be with extreme reluctance that we would divert
from that City any of our established business relations. and
Vliereas we deem it a duty we owe to ourselvs, and to the business
interests of our county that we make every effort to have the action
of the organization committee reviewed to the end that our county
may be placed in the Kansas City district.
Resolved that we, the bankers of McCurtain County Oklahoma, speaking
for ourselvs, and expressing the sentiment of all the commercial interests
of our r!nunty, do earnestly nrd vigrrotsly protest against the action
of tal2 Regional Bank organization committee in dividing our state,and
placing about one half in the Dallas district, and we earnestly request,
and hope their action may be overruled, and the lines of the districts
so changed that Oklahoma may be included intact with the Kansas City
District.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ers AssociAtion.
McCurttin
4E1
OM
MEP
President
To the Federal: Re4lOve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most sever
e blow
to the commercial interests of the entire state, we,
the undersigned citizens of ANAIANYL..
Okla., petition your honorable body to place the State of Oklahoma in
one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce
to
a large extent inter-dependent, and that all of
the towns and
cities of the state can more conveniently trans
act their business
with each other through one common center.
Name
Business
W/CkAre—€ Ye,e}2
i/A4- 6{efeti-a-(
j
9 2
3.1K
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
74°A4W1
a
cil0"f11/e
To the Federal Reeve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial interests of the entire state, we, the undersigned citizens of __ANAD4RKa.
Okla., petition your honorable body to place the State of Oklahoma in one district
with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their business
with each other through one common center.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Business
-74az-tca g4
Om1LJi"2-1)-(1ALthi
fr
4 ,c4e_x.t,4
, )
Jc_e,
d..
To the Feder1 Akve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe
blow
to the commercial inte est of the
tire state, we, the undersigned citizens of
Okla., petition your honorable body to place the State of klahoma in one
district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce
to
a large extent inter-dependent, and that all of the towns
and
cities of the state can more conveniently transact
their business
with each other through one common center.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Name
Business
s
a9e7 -yr,A62/
iidte.ca
Jeie
f
Pr
Nr
-47-4-0 0'
4
To the Federal Re
ve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe
blow
to the commercial inter s4the entire state, we, the undersigned citizens of
Okla., petition your honorable body to place the State of Oklahoma in one
district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their
business
with each other through one common center.
Name
Business
60-4-7A-
!.t-kLif
(
/
(
77
/;;e24-c ‘
74-.
Of,ta.offe)
4/kt,044A'-{
7
/4€A-a,a,T.k
te
i
aka
ta-(i
ATZL. S:SIAIEBANK67,
ALTus..OKLAHOMA
j
(7/tA9A
062/6(-7
;46
'7
4,
9eHaf";
dJL1
eAtc:-v
NA.TiOliAL BANK. ALTUS, C\aCi.,A.
Have this miled in with the signatures os some ar your businoan men, ancl
ethers, and lull 'Wok at once in the enclosed envelope.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
411
To the Federal Re
Washingtokve Board,
, D. C.
414I
Gentlemen:Believing the division of the state a most severe blow
to the commercial irest./
4 of tie entire state, we, the undersigned citizens of `'/1
-1-0:7_
Okla., petition your honorable body to place the State of Oklahoma in one distri
ct with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns
and
cities of the state can more convenient1y transact their
business
with each other through one common center.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Name
Business
„
-a
LAIL"(
it,441 J7
-,
Minessom
o
t)
1.1t.,t f
4,c
6
1IrM
2.21(
,
NN
itt.,,40,1,Atif,?
.m,
eeries,-(e
4'
To the Federal RellIve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial int,reT of/the entire state, we, the undersigned citizens of 1
,
Okla., petition your honorable body to place the State of Oklahoma in one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their business
with each other through one common center.
Business
ill,..4'
/I)
/
61/ ,3/7,:---7* (.1
/Li
•
,:
i/
/,
/
•
(7;
•
e
_4.
-
7,
—
.
(k..LkA13
*a,
1
• Ii
txf
, ..... —.......,,,...---
-- 4
,.....0
...„
„,....--) ,..,...,/
40,
k
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ts-
1
...411
-A4
Awkwe#4..,......Weloore
/,
-
To the Federal Relkve Board,
Washington, D. C.
410
Gentlemen:Believing the division of the state a most
severe blow
to the commercial illtprests,of tOe entire state
, we, the undersigned citizens of
Okla., petition your honorable body to place the State of OklA'ioma in
one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its
commerce to
a large extent inter-dependent, and that all
of the towns and
cities of the state can more conveniently
transact their business
with each other through one common cente
r.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I
Business
Mi
el1 '1
6
,
4
.4.-----( j ,_ c /.. e) f
...a: _er
•
? ,--"‘,....... i„ \•
._
o
e
•
/"'
e,•
- et...' 7-"t*-- . -Q.....0
-
/c
-
To the Federal Reeve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial interestp of/the entire state, w, the undersigned citizens of
-n'-±2-__ Okla., petition your honorable body to place the State of Oklahoma in one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their business
with each other through one common center.
Business
,
A4/1,ft-4e-t,tee
„ ./14/ 2e.d, 1,A5
7
.
--
// /
••
"‘I
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4.?
/
•
PROTEST.
70 THE 7.77DERAL RESERVE 170ARD.
TO
Into
divi4,i(mn of
ti. t
—t,9 f:11
dLta Lct IS JCt unfc,r1i1E•
=rests
tha
:yusiness in-:),
/
2'us111es3
,
First-- pecuse th's
1. IS t:ward 17-7nss city - nd 11,Dt
unity cf t'i s9Is essenS
BGcuse tha
,
dav&icTsilant of this younn
divisicn
-14 ccL-ut
bt tiz
..,
Oifiaho,31-
t
centeps
Becci.se ths dev -da.lant of
6t -ts,
st-ts is conducive tm the fullast 7rosress ‘7,f
,
wh.lch will '
tha
hi_Le:Pad
ufvisicn.
tis inter,:sts c•
Fifth-- 3ec,
-_-_se in
;.-- )o -c.thw,
.
served by connection with
2,-sts-L-*.a
ths- y - nsas City Feds- 11 Resfal.'ws dfstPict
,
1
cciinection Wth
pPling.
Les1,.s
2:tsst
-s
,:h10 sec ,ion
iu. a:st
faq-dast,
uist:c.icts ])6 sc; chrsned
01:1-hc,..1:1 in the K.7iacluds
,nsas City distPict.
DUSIIIESS.
THE FARMER'S TATE 13rAW
4 41'7 ,
1
0
1'
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,a7
1/6.,
4
<5
1
••••
4
C.
t.,
11
e
.1•VM•re
;,/ 40.
4.
,e
• • ••••
I P.
• •
•
I.
te-
4...1'
a
eri.424,41,
-4-444 IL_
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
To the Federal RellIve Board,
Washington, D. C.
Gentlemen:Believing the divi6ion of the state a most severe
blow
to the commercial int rests of t
entire state, we, the undersigned citizens of
Okla., petition your hoilorable body to place the State of Oklahoma in one
district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the
towns and
cities of the state can more conveniently transact
their business
with each other through one common center.
Name
vf
Business
)
i(
0.1
- "N.
0
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
To the Federal R3
ve Board,
Washington, D. C.
Gentlemen:i
Believing the division o the state a most severe
blow
to the commercial in-Vrests of
theIentire state, we, the undersigned citizens of C.C41.,,G-1.i.
Okla., petition your honorable body to place the State of Oklahoma in one
district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns
and
cities of the state can more conveniently transact their
business
with each other through one common center.
Name
Business
/„K
17 )V
c
-7
///z 6
-d
, V
A
A
,
1121
.
e
gotAy
•
tit/
711,
ffrt t
,...,
,
if
,
is
CI
/
a,,g kL)vu/
i
(
'C 6C6
6
_
3,<A1
1/YV C?'4
,
_. . .
L
6
Havo thlir; tilled in wath the ol-po.turce 41. sore a ycur buninccf;
Len ana *thorn ana tall
,t once In the enclouo1 envolopo.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
o
To the Federal Reeve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe
blow
to the commercial intTgtp of t‘ e4t-ire state, we,
the undersigned citizens of _
L__/
Okla., petition your honorable body to place the State of Oklahoma in one distr
ict with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns
and
cities of the state can more conveniently transact their
business
with each other through one common center.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-Business
/3
ffA
•
7,
6
(„/
c!?44,,,,t....-•
7
/
t,) 4
•
To the Federal Re4Wve Board,
Washington, D. C.
Gentlemen:•
Believing the division of the state a most sever
e blow
to the commercial i
ests o 'the entire state, we, the undersigned citizens of
Okla., petition your honorable body to place the State of Oklahoma in one
district with
headquarters at Kansas City.
We feel this stat
homogeneous, that its commerce to
a large extent inter-depend
, and that all of the towns and
cities of the state can more conveniently transact their
business
with each other through one common center.
Business
a ,e
4
4
te-lot
SL0JIL.„,
i
t
a,—#4
)
,
e
it 4--?.C.
c)e.
)
71
4
44,-te,
4`
/4-4-vt-L-
7}
1
1/
rf,
/
1
1, /)
e,e
k.s.2f
r
,
alVkitt4.
(
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1 ettIVU,
JAAt
AZZ
f
g 71
t
t41
C%
/\
'&1(
)
54*'
trVV
I
••••
4
•
F;/
11
0
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial interests of the ntire state, we, the undersigned citizens of __JEapp
_
Okla., petition your honorable body to place the State of Oklahoma in one distric
t with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their
business
with each other through one common center.
Name
Business
General -Merchandise
General Verchandise
General lerchandise
Barbcr
Elacksmith
!
Telephone
Newspaper
Telegraph
Grain
c
Hors & Cattle
Home this filled in with the signatures of some or your business non, uty,1
others, and nail back at onoo in the enclosed envelope.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
To the Federal Reserdboard,
Washington, D. C.
Gentlemen:
Believing the division of the state a most severe
blow
to the commercial inter
s of the entire state, we, the undersigned citizens of _jt
Okla., petition your honorable body to place the State of Oklahoma in one district
with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their busines
s
with each other through one common center.
Name
Business
76)(
) i3
'r l
/f
f
B. G. Xirliwoal Lumber Co.,
Iv
g- !
ft
ri4z,Z2 44-frn
0
‘?6`.:-6 ./Z41 71-/-;
, 1
I f
c
te-v-
P&
("?
61_
H ti'
T- (
Iait.,41.LQtL
bt.
/
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
.-etrker
?"4 4.
(,)
To the Federal Rese*Board,
Washington, D. C.
Gentlemen:Believing the division o the state a most sever
e blow
to the commercial interests of the entire state,
we, the undersigned citizens of
upndriel,
-,_
Okla., petition your honorable body to place the State of Oklahoma in
one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its
commerce to
a large extent inter-dependent, and that all
of the towns and
cities of the state can more conveniently
transact their business
with each other through one common center.
Name
Business
(
it
k
J 0
,1
1
F
/
eitej
/?
e
Have this tilled in with the signatures of sou() of your business men, and
otn ,
r3,
- al/ bac!: LA; ,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
To the Federal Reservikoard,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial int r sts ofjthe entire state, we, the undersigned citizens of
Okla., petition your honorable body to place the State of Oklahoma in one distri
ct with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns
and
cities of the state can more conveniently transact their
business
with each other through one common center.
Name
Business
riEsT NEtIONAL USK; IIQBkR1
KLL,
THE CITY NATIONAL BANK OF flOBART.
*-r
••••
•••
j
Faririr & Merchants Nationil
Hobart, Oklahoma.
,
1p44-11kAAr
74
/7
~e-
Unitete Express Co.
vite4A,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
cc—fi
cetuor Iteettrt
i
"P(
(4 1
t
('
-
•
I
,
41//ciee e‘ric-0 l'ana4
•
cV,t2,„
\
-FAI '0'1 Oh§
‘,44,41/Ket(
oti
44
-444444
-
444
c.
'
To the Federal ReserAboard,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
.to the commercial intgrpsts of the entire state, we, the under
signed citizens of
Okla., petition your honorable body to place the State of Oklahoma in one distr
ict with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns
and
cities of the state can more conveniently transa
ct their business
with each other through one common center.
Name
Business
,
(Ake
1
5? A,44.4.../t
t
PW/4,C141,L.a.-0
L4ge- 117-(
If
,
1‘1001ZES ta CAU DILL
C
-e-) - 6
/
/711 10—71
//).
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
PA/t1
c_
Xi 61 [Lac ,szic-nc,1
,Z
"
etw
-"p
To the Federal Reservilliboard,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial interes s of the entire state, we, the undersigned citizens of
_ Okla., petition your honorable body to place the State of Oklahoma in one district
with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their busine
ss
with each other through one common center.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Name
.LI
Business
/,
1
1
4
e<
IX Le.
0,X4c/
Ii
17Z
Lu e,J
,
*.;
To the Federal Alrve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most
severe blow
to the commercial interes -s of the entire
state, we, the undersigned citizens of
Okla., petition your honorable body to place the
ate of Oklahoma in one district with
headquarters at Kansas City.
We feel this state is homogeneous,
that its commerce to
a large extent inter-dependent, and
that all of the towns and
cities of the state can more conv
eniently transact their business
with each other through one common
center.
Name
Business
731 1- 6
:&
•
a/
a2u4
c2-)_z,Lea,4
-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
a/a-0 e4_44 A/P
;(1.zu
/1
4, 0
-/IA-
To the Federal Reeve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial inWests of the entire state, we, the undersigned citizens of.z.-A_ZzLz 4r-- ,.a --, Okla., petition your honz
1
orable body to place the State of Oklahoma in one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their business
with each other through one common center.
Name
,
zsLl_aes
2
/
6A
7
AL„t_eZ0.7A,
,
le, 14-co_hT,
te/44
(I -----VC&Q)141/
/rt.
tx/c61-/./: pt
-
44 7e
;
•••
e
Rave this filled in with the signutures uf GOE0 or your business
a;I: 'ail Ilack at once in the enclosed envelope.
Lo;) aJ'
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
To the FederA. Rekrve Board,
Washinzton, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial interests of the entire state, we, the undersigned citizens of _Kern,
Okla., petition your honorable body to place the State of Oklahoma in one distri
ct with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transa
ct their business
with each other through one common center.
Name
Business
410•044.,‘.mwimlow
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2S
„eel
CA 41
\1
(
To the Federal Relikve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial interests of the entire state, we, the undersigned citizens of
L000, .
Okla., petition your honorable body to place the State of Oklahoma in one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their busine
ss
with each other through one common center.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Name
(-Y7
J 0-e
Business
To the Federal 11411rve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe
blow
to the commercial interests of the entire state, we,
the undersigned citizens of
_
Okla., petition your honorable body to place the State of Oklahoma in one
district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns
and
cities of the state can more conveniently transact their
business
with each other through one common center.
Name
5
7o
Business
Cirvi.t
(y,
n
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
///
s'-
1 "-4
th/
C
/2
•
To the Federal RJOIrve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe
blow
to the commercial int ests f th entire state, we,
the undersigned citizens of
Okla., petition your honorable body to place the State of Oklahoma in one
district with
headuarters at Kansas City.
We feel this state is homogeneous, that its commerce
to
a large extent inter-dependent, and that all of the towns
and
cities of the
more conveniently transact their business
w.th6adh other through one common center.
Name
Business
The City National Bank, Lawton, Ok
s
CT 4
/be-t/
CM STATE MIK ff UFA
ayA--
•
a
1113T NATIONAL BANII
6(1744,(/-a-0
7
ziet,;
Oi
c
e_t}
Airq
c,
c2
4Z;Ze- 4
14P4,
3
7Lc tzy
c4
Aik
C
(
< 4-ef<
s
t
tIJ1 ,
74 t44, f
cedCsk---eucciate,
odae.-
W
.
gpep-444-44,r
)(
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
'
-e-Jc
,
/
•
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe
blow to the commercial interests of the entire state, we, the
undersigned citizens of Layton, Okla., petition your honorable
body to place the State of Oklahoma in one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce
to a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their
business with each other through one common center.
Name
,
4,4A0e
nit
,
•
4
1
ir4
4.
1
f,a4-
II/
;
The
/
C-4,,erker-t9
(P0
./
.
4
)
v
,
-7
4E401'
i
Z'_,
7
,jr
Ur'
,-V i
-/
:
vow, s
.
oa‘-4
Z 0
:
.
4
at
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7e:‘_oc4_.erf
,
e
/
•
To the Federal IAIOrve Board,
Washington, D. C.
Gentlemen:Believing the division of ti
state a most severe blow
to the commercial int
sts of the
ire state, we, the undersigned citizens of
Okla., petition your honorable body to place ie State of kiahoma
in one district with
headquarters at Kansas City.
We feel this state is homogeneous, that
its commerce to
a large extent inter-dependent, and that
all of the towns and
cities of the state can more conveniently
transact their business
with each other through one common cente
r.
Name
Business
A-&/(
).'
,T4f1
/
„44
44
,
.#'1 ‘-ei t • •
,
77
J`
/
•
is---41
0
,_
7/
,
/
A
/
k
4."
r
37
444.41
h
0.-ct tta-t-47te l
GO
-8-0-($1
r
-
1,3/tit,C7
„-‘.? .._ •
0
C'AJ
A
191(
4 41
La
i
Have this filled in with the almuturen of some of your businew; men, and
others, unanail bad: at once in the cnolos.A2. envelope.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
To the Federal 1111pre Board,
ir
Washing on, D. C.
Gentlemen:Believing the division of the state a most
severe blow
to the commercial interests of the entire stat
e, we, the undersigned citizens of
Okla., petition your honorable body to place thei4tate of Oklahoma in
one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its
commerce to
a large extent inter-dependent, and that all
of the towns and
cities of the state can more conveniently
transact their business
with each other through one common cent
er.
Ae,..‘
/f
C?;
C-71.--
I
CC,
t11_1
2e-ara.--17----4-/
-
•
e
ke2t-1,,C;ik
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
tr_ _ _
2/4,,:.rtaire,a4
To the Federal R.ve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial interesDs t_ the entire state, we, the under, Ar,
signed citizens of
Okla., petition your honorable body to place the State of Oklahoma in one distri
ct with
headqUarterslAt Kansas City.
We fe8l this state is homogeneous, that its commerce to
a"targe extent inter-dependent, and that all of the towns
and
et-tiles of -the state can more conveniently transact their busine
ss
with each other through one common center.
Name
'Kr
5._ck
-LI,
_4,44 A
6,frievi,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
To the Federal 11,
Rrve Board,
We.shing on, D. C.
Gentlemen:Believing the division of the state a most
severe blow
to the commercial i
sts of the entire state, we, the under,
signed citizens of
Okla., petition your honorable body to place the State of Oklahoma in
one district with
headquarters at Kansas City.
We feel this state is homogenous, that its comm
erce to
a large extent inter-dependent, and that all
of the towns and
cities of the state can more conveniently
transact their business
with each other through one common center.
Name
Business
)
,AOGO
0.
coe
r—Z—Z—el
/zfriziA
?Th
dj
(g
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
toit- -#
4
/a-2
A-aval
\
-
/ 2 .;."?
/
To the Federal Allei ve Board,
r
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial ip-ri
,7119 of the entire state, we, the under.
signed citizens of
_
Okla., petition your honorable body to place the State of Oklahoma in one district
with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their busine
ss
with each other through one common center.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Name
Buliness
(-cg.
tit
,f
.
el‘
s„.
v-
(f
IMMIOMMIIIMIIMINIM.U.
10600.
. 0 41
. •Mall....111111
11111111116
f
To the Federal Rive Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most seve
re blow
to the commercial in,tivests of the entire state,
we, the undersigned citizens of ..s. ___LaxieL-4/
:
Okla., petition your honorable body to place the State of Oklahoma in
one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its comm
erce to
a large extent inter-dependent, and that all
of the towns and
cities of the state can more conveniently
transact their business
with each other through one common cent
er.
Name
Business
First State Bank
-
PoseAsiet, Okla.
,
(CO_Aizz,7 et
,
1
/74
1
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Al kilor44.0e4Zip.
ti o
14,4 a
iLL,2,,t C4, I- ti
)
7t(„A—C
,
tri 6 e
t,
-e/
,
71111111MMIL
To the Federal Reeve Board,
Washington, D. C.
•
Gentlemen:Believing the-- ivision of the state a most severe blow
to the commercial I e ,)ts of
e,entire state, we, the undersigned citizens of
/
A
Okla., petition your honorable body to place the State of Oklahoma in one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their business
with each other through one common center.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
siness
-
itAAJ: /"
71 r
K2 4414.
0 ,
fi
ce-er_er\_
7vt
_
z t/7
lefie-e)
&1-11
fI
C;er,4e,A(
_
To the Federal Re
ve Board,
Washing n, D. C.
It
Gentlemen:Believing the division of the state a most severe
blow
to the commercial interests of the entire state, we, the under
signed citizens of Aito.A....2 ,11
Okla., petition your honorable body to place the State of Oklahoma in one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their busin
ess
with each other through one common center.
Business
k
C
-/t
/
/ m
fv7;r7
1/
,
1
A
(s
etvietu..)
-e,/1_,-.1.2-1
't
-t,
n
;\k>
t
V
%
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/1//'
Aef'
,cl
It
To the Federal Re
ve Board,
Washing 6 n, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial interest
entire state, we, the undersigned citizens of
Okla., petition your honorable body to place the State of Oklahom, in one district with
?,
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their business
with each other through one common center.
Name
Business
AjtA
/It/wi
4d24,--euLA:,1 e1e:64._\
af;1
-
7
(121,
-
•/
/
y-v
.
,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
r
J
eet44
•
To the Federal Relekave Board,
Washington, D. C.
Gentlemen:Believinv .
the ivision of the state a most severe blow
to the commercial inter
of the prAire state, we, the under-f
signed citizens of
Zdatj64_9kla., petition your henorable body to place the State of Oklahoma in one distr
ict with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns
and
cities of the state can more conveniently trans
act their business
with each other through one common center.
Name
Business
/
40/1
,
/Z 7( 6z
--i-t.at
L-11,-4retLe__>
1Z
6-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
74
tAXI.
%cd
ioe-44//f
"7144,
eel-4,t14t-ie
4-1441.1..f/
+Ip
To the Federal Retve Board,
Washing.on, D. C.
Gentlemen:Believing the division of the state a most severe
blow
to the commercial interes spf the entire state, we,
the undersigned citizens of
- 401.0111
1
Okla., petition your honorable body to place theiState of Oklahoma in one distri
ct with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their
business
with each other through one common center.
Name
Business
/
/
1"
4.
(-
_
Z )
iazza
/1
—
,
/
'
/AL,
/
•
I
•',
-71/1_
.t.rig1
1 6
61-€11 ;
7
,6
7)
/ /
tAiiK
f
f
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
.
iecAt
60t_4cut-J
(
41,
/ 7)
•
To the Federal Re
ve Board,
Washington, D. C.
Gentlemen:Believing the division of the stat
e a most severe blow
to the commercial inerests of the enti
re state, we, the undersigned citizens of
1,,,,
,J11,
Okla., petition your honorable body to place the State of Okla
homa in one district with
headquarters at Kansas LCity.
We feel this state is homogeneous, that
its commerce to
a large extent inter-dependent, ad
that all of the towns and
cities of the state can more convenie
ntly transact their business
with each other through one common
center.
Name
Business
v"r11-h-
/ 4 r 64
L (5i
/(
.,
i
4---
,)
--/'
ir
4
14 „.01.47t,
(')
4
•
Have this rilloa in with the signatures of 30r.1C of your business men, and
others, and !ail baet at once in the enclosed envelope
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Washin t n, D.
0.2
,
Gentlemen:B3lievinc the division of the state
a most severe biam___
to the comErnial intWrests of.±1-1, vntire
4
state, we, the undersigned citizens of /
Okla., petition your honorable body to place the/St' of Oklahoma
in one district with
headquarters at Kansas City.
•
We feel this state is homogeneous, that its
commerce to
a large extent inter-dependent, and that all of
the towns and
cities of the state can more conveniently trans
act their business
with each other through one common center.
Name
Business
-.0
714
&-t---h4/001
(—}-1
aIT
,v/2 4/
1
t).-71
41,
)
.
r
Itire
Pt
"
t
/
2ed
,f,„, 1'
;
6
//1-/vAliv/
a1.0
Have this
riiiod in
others, a
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
th signatures or some
iiiloidiess can, and
mail balisk at once in the 6nolosed stamped envelope
.
b
/
6 oritoww.At
1
'fit •
Ce
,
-461,044*-4-a.4.,
43(11
)
Gentlemen:Believin, the division of the state a most severe blow
he commercial ..,A1 'rests or the/ entire state, we, the undersigned citizens of 40.0
Okla., petition your honorable body to place the/State of Oklahoma in one district with
headquarters at Kansasdity.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their business
with each other through one common center.
6
je.1 me
4
\TtL
4
Business
YA-1,4'uL u AC
QZke
it
;1AAA-
laAJ&i
p(AAL.
f
-A/
(
0
ZIAZ,
e5W/f
"
)
Have this filled in with the signatures of some of your business men
aria other and wail back at once in the enclosed envelope.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4
To the Federa1 Ree've Board;
% Oalhington, D. C.
Gentlemen:Believing th division of the state a most severe blow
to the commercial int ests of the entire state, we, the undersigned citizens of
Okla., petition your hon-Cklahoma in one district with
orable body to place th:1=f
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their business
with each other through one common center.
Name
Business
)
,
d
dc1
_
7
7
/
Opti
The Beckham County National Bank, Sayre, Okla,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
O
To the Federal Re
-ve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most sever
e blow
to the commercial inter sts of the entire state, we,
the undersigned citizens of _
Okla., petition your honorable body to place th State of Oklahoma in
one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its comme
rce to
a large extent inter-dependent, and that all of the
towns and
cities of the state can more conveniently transact
their business
with each other through one common center.
Name
Business
,AgL 1471'
,
4.
4
/ ,.....ii,
. ,
i
-, .,.-.. --- •-..-3 tr
)
•.
/
tr
'4,K....,,i
, i...
,
• ,4' ,
er
7
,.."
.......
4*
*/
..---
.t•
\.
r
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-
,,,e,/tieWe/4:y/
To the Federal ReOve Board,
Washington, D. C.
•
Gentlemen:Believing the division of the state a most severe blow
to the commercial interests of the entire state, we, the underexola,
signed citizens of
Okla., petition your honorable body to place the State of Oklahoma hi one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
large extent inter-dependent, and that all of the towns and
a
cities of the state can more conveniently transact their business
with each other through one common center.
Name
Business
fz;
t
I/
71
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
j
.
Cr44-- L
7
.1 C. C.
.
1
7
• /1
• /31eLA-.610-1,,.
771/)
)
i
t
•
To the Federal Rerve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the comalercial interests of the entire state, we,
the undersigned citizens of _Iaelo,
Okla., petition your honorable bo(ly to place the State of Oklahoma in one
district with
headqnarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns
and
cities of the state can more conveniently transact their
business
with each other through one common center.
/ Name
Business
171,244— e
*7—
-
,
)/e
'
,
/
1
2
/
91
/
,
.
at44.-c-tz-e=4:2T,
-
o -WCr/ , d3
fe./C
Gl
CI',.11.
tt--(iit 4()
----etk
C
-
/9_y
4/a/61 „V:
,
e
"Pa41_,,L,,e277.„04t2
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
cvn()
'
/22_
To the Federal Reserve Board,
Washington, D. C.
Gentlethen:Believing the division
the state a most severe blow
to the commercial interests of
entire state, we, the undersigned citizens of Tuttle,
Okla., petition your honorable body to place the State of Oklahoma in one district with
eadquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their business
with each •ther through one common center.
Name
siness
,
5)1{,
CI-P0 „
.1
/ .416
/
r
71(
/
7
t
111.
4
ct
f*tt-t/
i
(114
C7:77,4
iéL-
; '
..)
/ )1(
'
lAVIE-114A /
)
,L5 ,e/0
,
L-44
.
,
,e, ,,i„
Ea?. this tilled in with the signatures of some or your business wen
and' other and mail back at once in the enclosed envelope.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
/
To the Federal Relkve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe
blow
to the commercial int‘ ests
the entire state, we, the undersigned citizens of
Okla., petition your honorable body to place the State of Oklahoma in one
district with
headquartei.s at Kansas City.
We feel this state is homogeneous, that its commerce
to
a large extent inter-dependent, and that all of the
towns and
cities of the state can more conveniently transact
their business
with each other through one common center.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
or
Business
Gentlemen:Believing the division of the state a most severe blow
commercial into ests of the entire state, we, the underto the
,
signed citizens of
..4.11.6,10kla., petition your honorable body to place the State of Oklahoma in one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their business
with each other through one common center.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
To the Federal Reeive Board,
Washington, D. C.
•""" f
4
10
Gentlemen:.
Believing the division of the state a most severe blow
to the commercial interests of the entire state, we, the
undersigned citizens of _Li„lz:c_il,..-Lor;,
Okla., petition your honorable body to place the State of Oklahoma in one distr
ict with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a,large extent inter-dependent, and that all of the towns and
ities of the state can more conveniently transact their busine
ss
with each other through one common center.
Business /
--/1
?
27"
OdA
arra-
/ye
Mi 1///t(Zut-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
U- C
222,(ye:44c-7
1 7
/
2
27
a7,k
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:Believing the division of the state a most severe blow
to the commercial idoor,,, -sts of the entire state, we, the undersigned citizens of
AtAii.Lz
Okla., petition your honorable body to place the S te of Oklahoma in one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
a large extent inter-dependent, and that all of the towns and
cities of the state can more conveniently transact their business
with each other through one common center.
Name
Business
dñ
-
.72712,,
7")
-.ACLe/L.
--e=?
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I,
(-•
-1
/
Ir
( ,
-I..7 Ql-1* 41
'
/11.0-S. Li
(
7 '
iart• 1,t ''
,
(9r1,
cowa ir
"
1S-dziz
.
_
To the Federal R
ve Board,
Washington, D. C.
•
Gentlemen:Believing the division of the state a most severe blow
tire state, we, the underto the commercialTvts of the
__ __ Okla., petition your honsigned citizens of -Ce ___
t
— orable body to place the State of OKlahoma in one district with
headquarters at Kansas City.
We feel this state is homogeneous, that its commerce to
d
large extent inter-dependent, and that all of the towns and.
a
more conveniently transact their business
ties
( of the state can
with each other through one common center.
Name
Business
V
,uf
•
occtl, Of! your buninoos nen
'Rave tLio filled In with ttao ulotatureri
INlet: 3t, once in LLy (11clooed envelope.
arra other t4nd
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
47
IPS
To the Pederal L itve Boa
rd,
WashinL ,n, D. C.
Gentlemen:Believing the division of the
state arost severe blow
to the commercial interests of
the entire state, we, the
undersigned citizens of WEATHERFORD _
Okla., petition your honorable body to place the State of
Oklahoma in one district
with
, headquarters at Kansas City.
_
We feel this state is homogeneo
us, that its commerce to
,large extent inter-dependent, and
L
that all of the towns and
cities of the state can more con
veniently transact their bus
iness
'th each other through one common
center.
IC
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Name
Business
A
gA,A,dhaA2-/-
••••
••••,...11.
-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
a
letAa,
r
A4
_
1914.
Okla., April
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
-2
Bank2
ei4
17-14L174L4141
.
Officer Signing
cial communication vioiatea, and urgently requests that the districts be so re -adjusted
that it will be in District No. 10, with headquarters at Kansas City.
BankQTY NATIONAL BAN(. ALTUS, OKLA_
Officer Signing
fICA1041.10 401.40
,
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District N. 10, with headquarters at Kansas
Y.
Bank
Officer Signing
...1( Si
A./ LogAr
it LIA-At
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District o. i. 'ith headquarters at Kansas City.
Bank Pirst Nutio
.K
AnLidarn, OKLaaomu
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4,74
,Okla, April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re -adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
UR NATIONAL dANK._ ALTUS, OKLA.
Bank
Officer Signing
ii.,..04Waarftdigdn,
-0
lyr
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas
Y.
Bank
Officer Signing
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District o.
th head—
quarters at Kansas City.
Bank if1f13t Natio
„K
AnadarKo, OKIEthoma
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in Di.strict No. 10, with head—
quarters at Kansas City.
\\ 111-ii -r/(-4
Okla., April
1914.N
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 101 with head—
quarters at Kansas
Y.
Officer Signing
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District o. • ith head—
quarters at Kansas City.
Bank First Natio
.K
Anadarlizo, OKIaliona
Officer Signing
11
,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
4- - _ 1111111
e6
Okla., April 7 1914.
To the Federal Reserve Board,
Washington, D. C.
/2 .2 --/
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
7-2
Bank0
04Officer Signing
1
CA-4k14-(
clad' communication violatea, ana urgently renuests that the districts be sore-adjusted
An,
Okla., April
1914.1
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District o.
th headquarters at Kansas City.
Bank 21rst Natio
Anadarko, Oklatioma
Officer Signing
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
ALLHICAI=LCZAL
.
Officer Signing
that it will be in District no. iu, w.quarters at Kansas Cit .
Ban
i ‘'1,0:e4
Officer Signing 6
%
Bank 4/c4.---
/ /
Officer Signing
ki
1IiL0
0.
CI. u
L
CA. IJ
%/J. 160,,, •
Bank
Officer Signing
. owe.
2.
v•
1.ov
LAI
•
if
eit-444
Officer Signinfr
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
wommwommil
quarters at Kansas City.
Bank Mai
shanNotinnal Ran
Officer Signing
Bank.7
Officer Signing
(
aftL
/
c,
e
;e46t ,„ve'
r
I
Okla., Aprillgi
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas Ci'pr.
Ban
Officer Signing
Bank
Officer Signing
Li U.0.1 to
10
C.
.1.10.11.1.
0Olt ;0
.0„.y •
Bank
Officer Signing
eic4a,t40
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
fs‹-lk
Officer Signin
oww
”roalm“..m
.WIlmWOMA
quarters at Kansas City.
Bank ahi
.1.0WW,NOW
tinnnl Rnnk,
Officer Signing
16 9alsi
1
Bank:/h-e-Aoi irg„tt
-c
Officer Signing
61
rt _LA
Z;371-Z,
-s/
Okla., April
1914.
'To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
i")
0. L.
vj 4
1.1C41,10CAx3
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
00004 1!
1
0
..trr
-_
f
4(z.25tg_
k
a
j
goi?t
4
1.11
--
quarters at Kansas City.
Bank
Officer Signing
Bank/M%&47
v
j
Officer Signing
d4/1f,
6
-27 94'7
7
41
•
ATOKA
Okla., April
To the Federal Reserve
Waehington, D. C.
1914.
Board,
Gentlemen:—
1k, having been v1aced in Dintrict
Thiel boa-
Reetone.i
of the
1-leerve Danicing
finan—
couvoe of trade and
i-tE5
cia1 communication vio1ated
13
-1-1(3t
easthat the ditricts3 be 130
1"a"--Thr d
Nc" 10,
coamrtern at 1,
./stirs Cl.ty •
No. 11
a
trImt it Will be trx Dtetrict
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
N
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
V
eic4a-t
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
kilk
40,4
2V 4
Officer Signing'
quarters at Kansas City.
Bank cnifti4Lanthlanligtio Al 3Ank\N
Officer Signing
/
BankAZMAA,/,,/
Officer Signing
-LA_A
•
•
•
•
AT9KA
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
.. atilral course of trade and finan,
_
" crAntly re,
sc, I
la-----'
Okla., April
1914.
o the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and fina,ncial communication violated, and urgently r
quests that the districts be so r.. -adjust
that it will be in District No. 10, wit i adquarters at Kansas City.
1-1
eit,a,ix4oNafs.51-,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
N
4(14(aLd
,e'P Air
Officer Signjncr
quarters at Kansas City.
Bank croi9AglawNatinn Al
Officer Signing
I
/
Bank ,-//te-AOfficer Signing
Office-c
3i.-7•1-1j-1"1E:._._
c /ig-u
,
/-1.0-4z4Ak
,t/vi,,\ ?
(
Rank,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
ATOKA
1914.
__ Okla., April
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
AIER ckal II V"
Officer Signing
S.
OCT' cs oe,
13
• tr-::-Z
licitIL ira
011iolcAaha
Okla., April
1914.\
To the 'ederal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
lll'
Bank,/A- 1 1/(%tcniai
1
Officer Signing
();Y414
)
f 7P
Zit
>714e
-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
AT9KA
Okla., Mori).
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
ALERIGAIUNA;107111,
e(
-
Officer Signing
Okla., April
19,4.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in
District
11 of the Regional Reserve Banking
No.
System,
declares its natural course of trade and
finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
i/te-/leda,a-
Bank.
Officer Signing
rl
1Nit-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ATOKA
Okla., Mori].
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
Officer Signing
that it will ye ln vismricz
quarters at Kansas Cit
Ba
Yt740-t/27/--e-
Officer Signing
To the Federal Peerve Bet;r:
7as"!-i1-ngt0n, D. C.
Gentlemen:'cark, having: 1Jeen pL
in istrict
:Regional :'.escrvc ranking F:stem, declares
11 of -thr
its natilrrl course of trade /IC iinancial commun.urrert17 rcoliccts that the
ictien violated,
flat it - All he in
bc so re-adju:Acd .
Cistri ts
10, with 1-cadc,uarters at 74a]isas CL..
District ro.
Law
Ofinr"
(71-rlp
(=Z6-41/11-4-
O.
• •
Okla
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed
in DiAl Ct
No. 11 of the Regional Reserve
Banking System,
declares its natural course of trade
and financial communication violated, and
urgently
quests that the districts be so
rr-adjustG
that it will be in District No. 10,
with headquarters at Kansas City.
Bank
*we,
Officer Signirig
lwv d0
that it will be in
etujubtecr
District No. 10, with
quarters at Kansas
head—
City.
Bank
Officer Signing
A.0
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in Distr t No. 10, with head—
quarters at Kansas Cit
Bank
Officer Signin
Tnis mum,
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas C ty,
2
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank
Officer Signing
/
7
Okla., April J
1914.
To the Federal
Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having
been placed in
No. 11 of the Regio
nal Reserve BankingDistrict
declares its natural
System,
course of trade and
cial communication
violated, and urgentlyfinan—
quests that the
re—
districts be so re—
that it will be in
adjusted
District No. 10, with
quarters at Kansas
head—
City.
Bank
-4c4-(Zi-A.4Afr
Officer Signing AV
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in Distr t No. 10, with head—
quarters at Kansas Cit
Bank
_/7%
Officer Signin
7v/ 6!2l7
11115 mum,
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas
ty.
/2
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank
Officer Signing
fr
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed in
Di
-Z
No. 11 of the R:igional
To the Federal R
Washington, D. C.
Okla., April// 1914. 1
\
erve Board,
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in Distr t No. 10, with headquarters at Kansas Cit
Officer Signin
inis umfinf
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas .ty.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank
Officer Signing
• •
To the Federal Reserve Board,
Washingten, D. C.
Gentlemen:This hank, having been placed
in
c
No. 11 of the Regional Reserve
Banking System,
declares its natural course of
trade and fi.nancial communication violated, and
quests that the districts be so urgent3y 'ethat it will be in District No. rfl-adjnztel.
10, with headquarters at Kansas City'.
at
Bank
Officer Signil?g
-
Okla., April
1914.
o the Federal Reserve Board,
shington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
/
quarters at Kansas C ty. j -7
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
/y:
Bank
Officer Signing
arezt.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
•
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. O.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
First Nat' Pank, Arlache, -
Officer Signing
(-‘fr
communication viola tLL,
cial
so re-adjusted
quests that the districts be
No. 10, with headthat it will be in District
quarters at Kansas City.
I./)/dda k/1
4 1
,
1
f
Bank f
49,4A/ Aá'
Officer Signing
uumwarfication violated, and urgently requests that the districts be so r, -adjusteJ
that it will be in District No. 10, with headquarters at Kansas City.
Bank
A=?Idgeat2
ie
.1••••••••••.=0
-0-6c
Officer Signing
declares its natural course or traae unu Iinuurecial communication violated, and urgently
quests that the districts be so re -adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
1
•••••...••••••••=.
.14
Officer Signing
_
,vurbe or traae and financial communication violated, and
urgently requests that the districts be so re
-adjusted
that it will be in District No. 10,
with headquarters at Kansas Cit
Bank
•••••••••••........••
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
Board,
To the Federal Reserve
C.
Washington, D.
Gentlemen:—
placed in District
This bank, having been
Reserve Banking System,
No. 11 of the Regional
of trade and finan—
declares its natural course
violated, and urgently re—
cial communication
districts be so re—adjusted
quests that the
No. 10, with head—
that it will be in District
quarters at Kansas City.
Bank
et
,
1
47
Officer Signing
uumwunication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with heada
quarters at Kans. o City.
//
—
0: •
Bank
Officer Signing
its
declares its natural course oi zraue ULM
communication violated, and urgently recial
quests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
z-(
Officer Signing
,
vutr:Je or tracte and financial communication violated,
and urgently requests that the districts be 20 re
-adjusted
that it ;ill be in District
No. 10, with headquarters at Kansas Ci
Bank
it
•••I,
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Apache,
Okla., April St:1914.
-4
AP •
To the Federal Reserve Board,
Washington, D. O.
Gentlemen:—
Okla., April
/
To the redemil Reserve Board,
Washington, D. C.
1914\
\
•••••••••
Gentlemen:This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
•
Bank
Aq4( ieate-4-=„A
OF
(
Officer Signing
declares its natural course or traae anu iiricial communication violated, and urgently requests that the districts be so re -adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
46
_2 ;
, A cc
Officer Signing
WM/
MM.
or tracte and financial communication violated, and
urgently requests that the districts be 20 re
-adjusted
that it will be in District No. 10,
with headquarters at Kansas Cit
eVUr6e
Bank
Officer Signing
• -'/(7,.
Oem.ft.Mmtl000
Q4 La1
4
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
Apache,
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
Okla., April
191
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed in District
System,
No. 11 of the Regional Reserve Banking
natural course of trade and finandeclares its
cial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
"ed
Officer Signing
_
Qvurse 01 trade and financial communication violated, and
urgently requests that the districts be 20 re
-adjusted
that it will be in District No. 10,
with headquarters at Kansas Cit
Bank
.
caaje-cry.--
••••••••••••••••••••••1.,
..•••••m,........••••••••••••,••••••11
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
A-rache't
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. O.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
First Natl Eanh, Arache,
Officer Signing
yW- ,
)
.
- 1-0-1151AmiT-cuxw.
40
----' -StiAA 7
_
Okla., April , v 1914\
v
To the Pederal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed in Distr
ict
No. 11 of the Regional Reserve Banking
System,
declares its natural course of trade
and financial communication violated, and
urgently requests that the districts be 20 re
-adjusted
that it will be in District No. 10,
with headquarters at Kansas Ci
Bank
••••••••••••=1.1
Officer Signing
Okla., April 401911.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
OZO.
Bank
Officer Signing
Officer Signing
`7
-
1W/h/t
Officer Signing
Bank
Officer Signing
Bank
:31rete National Bank Cord i Okla,
Officer Signing
Bank
Officer Signing
Bank (7
1
Officer Signing 2
;
7
quarters at Kansas City.
Bank
Officer Signing
/141(le,er,
quests
that it will be in District No
quarters at Kansas City.
Officer
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank vPITTVr w
Signing
AL TIMM DAVIS. OITA
--
—An
1_914
Okla., April
191\
\
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed
in District
No. 11 of the Regional Reserve
Banking System,
declares its natural course of
trade and finan—
cial communication violated, and
quests that the districts be so urgently re—
re—adjusted
that it will be in District No.
10, with head—
quarters at Kansas City.
RST .NATIONAL BANK,
Bank
CLINTON
Officer Signing
Bank_J
Officer Signing
Bank
Officer Signing
,
Bank ff te National &ink Cordel4;
Officer Signing
Bank
Officer Signing
Bank
Officer Signing
quarters at Kansas City.
Bank
Officer Signing
_e_dxf--, ,44-AKildiii,_,,,,
6
/,-;
441;
w
that it will be in District No. 10, ..luil L.,—...
quarters at Kansas City.
Officer
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Signing
AW
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas Cl
Bank
Officer Signing
afiCA
Bank
Officer Signing
Bank
1
2
-244->
State National Bank Cordeili OMIT
Officer Signing
Bank
. V.V.?*
2
.
Officer Signing
•o
,
•
060
Bank
Officer Signing
to.140.4,
J..to
quarters at Kansas City.
Bank
A-e -/zad
Officer Signing
17
W-7
quests IfluL,
that it will be in District No.
quarters at Kansas City.
Officer
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank
Signing
vyrsT
AL rm.DAVIS Ortt
Okla., April
To t e Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
Bank
State National Bank
Officer Signing
Bank
Officer Signing
Bank
Officer Signing
V1ACXV
ji 7r
07
1,0
quarters at Kansas City.
Bank
,A4-2&04,&„,,
Officer Signing i& 2 Af;a
L
4
quests Inuu
District No. 10,
that it will be in
quarters at Kansas City.
Officer
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank
171MgT
00
Signing 40
At TIMM DAVIS an A
60(..(/
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
To the Federal Reserve Board,
Washington. D. C.
Gantl.ameont —
This banlc, having beien
1
1
the, - 1,...giona-i_ - maarv.. 12sanIcing
14o. 11
tra.5.a
0.11....Z: .
"
e••••
'
vs.
.
1.1r,
•••••: Z. "1..t
"
" -3. 1 Iwo 17..
1
•
-•-s •••• ww - men
1.— mon
eta At.
"IINIC art•
1..- .
."1
,
so
-a
1. •
<
Okla., April
I.
1914.
To/the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking
System,
declares its natural course of trade and
finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
State National Bank, Cdrtkiii
Officer Signing
Bank
Officer Signing
-
Bank r-V 1
Officer Signing
_
quarters at Kansas City.
Bank
Officer Signing / . 2
/
/3
quests Inuu
1.0,wit..11 "—
that it will be in District N.
quarters at Kansas City.
Bank
Officer Signing
c,"1"
At rAllit. DAVIS OR1
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6
•
' -144,
Okla., April /0: 19 -To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
Banking System,
No. 11 of the Regional Reserve
and finan—
declares its natural course of trade
tly recial communication violated
4Ala
Okla., April S
1914
To the Federal
Reserve Board,
Was ington„ D. C.
Gentlemen:—
This bank, having
been placed in
No. 11 of the
District
Regional Reserve
Banking System,
declares its natural
course of trade and
cial communication
violated, and urgentlyfinan—
quests that the
re—
districts be so
that it will be in
re—adjusted
District No. 10, with
quarters at Kansas City,
head—
Bank
Officer Signing
Bank
Officer Signing
.Lw
54;-
_
c/Vr—e-tf-Z2--t/
quarters at Kansas City.
Bank
Officer Signing
quests Inuu
that it will be in District No. 10,
quarters at Kansas City.
Bank
Officer Signing
vIrtPT
W
AL',Aim PAVT. OWT.4
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
do•
Okla., April
/
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
System,
No. 11 of the Regional Reserve Banking
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
head—
that it will be in District No. 10, with
quarters at Kansas City.
Bank
Okla., April,g,
1914.
To th Federal
Reserve Board,
Washin ton, D. C.
Gentlemen:—
This bank, having
been placed in
No. 11 of the
District
Regional Reserve
Banking System,
declares its natural
course of trade
cial communication
and finan—
violated, and
quests that the
urgently re—
districts be so
that it will be in
re—adjusted
District No. 10,
with head—
quarters at Kansas
City.
Bank
et
--;!ter
Officer Signing 54-0;
7/W,;,/
_
quarters at Kansas City.
Bank
Officer Signing
quests Inut,
that it will be in District No.
quarters at Kansas City.
Officer Signing
(J, 1171. L
1
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
1
Okla., April 40: 1P--..4-.--
k7.9.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
1
-Ca
OCPA. 1 -ZqAulr,
Officer Signing
Officer Signing
Okla., April
1914.
the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in
District
No. 11 of the Regional Reserve
Banking System,
declares its natural course of trade
and finan—
cial communication violated, and
urgently re—
quests that the districts be so re—
that it will be in District No. 10,adjusted
with head—
quarters at Kansas City.
Bank
Officer Signing
queSt-s—Inuu
that it will be in District No.
quarters at Kansas City.
Bank
Officer Signing
vi c_T
10, IN1-U11—Licarv.
AL rmut.DAM.ox-T
A
Okla., April
•
-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
L69.ILI
Officer Signing
Officer Signing
Bank_7Officer Signing
Bank
Officer Signing
,Okla, April /-3 1914.
the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
Officer Signing
AL BAWIK TAWS. OWT.A
6e,
Os
c_
Okla., April // 1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in Dist/ict No. 10, with head—
quarters at Kansas Cit
at:4-i,"qi
Bank
Officer Signing
quarters at KansWeity:
14/1A-1
Bank
Officer Signing
quarters at /i.ansa5
uy.
Bank
?"""!
7
Officer Signing
Officer Signing
quarters at Kansas i uy
ft:4
(
(
/
1(a24'44
Bank
Officer Signing
arj sou aoW
.
1 0
m u nunsaS
Bank —
I
Ka..4441.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Officer Signing
ulty.
CLU
Officer Signing
cA/Ceri
Officer Signing
4,
4
1
*G4
&Ado A .4
APR 8- ),914
Okla., April
1914.
To the Federal Reserve Board,
Washington. D. 0.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at KansaCity.
Bank
2
rx1
Officer Signing
quarters at Aansa3 ul6y.
Bank
FIRST rii-M3U. MK,rump NIA,
Officer Signing
Officer Signing
quarters at Kansas
Bank
Officer Signing
0 au Aunsas
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
%.•
Bank
a(af-r7/k
Officer Signing
VL..1. 0
OAU
ulty.
Bank
Officer Signing
I
Bank
Officer Signing
t tA)
9 4 ivLIA./d1
' (
2
,,
Eldorudoj
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
cxu J.Lauzaz
FIRST EWA'BANK, Nom,0iat
,toct/
.
Ban
za,e
Aw,r44-4._„2
7.1
Officer Signing
uLlo.
quarters at Kansas ity.
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
mu aunSaS (At
Bank
teof-nk
Officer Signing
ulty.
0
CLU
Bank
Officer Signing
Bank
Officer Signing
J/
c.,) (4...:74
A
(.4 4_4)
•
•
•
Okla., April
To the Federal Reserve
Washington. D. C.
•
1914.
Board,
Gentlemen:—
This bank
Ilaving been 173.aced. in District
uo. ii of the
Region
asclaree ite natura al Reserve Manking System,
l course of trade
css_ mi.
and Tinan—
e0MTY11.2.1Cl1Ctf3.t.i-Cork V1-0
ciuutftests tlaat
1-13:ted.. 13.YMa. 'lir gerv
tly re—
the,
a.18t1
tlaft.t. it
-10t8 12,8
w111 be
80 1
-8—EVIS11.8t.83
clu xmr
a
ix
n
4
nt 1.
teilris at
0t No. 10.
'Xiskarassaft Oit
witAx. irmaad.—
..
Smarac
Di(
OrVicaeftir
47
,
Migoniinw
111111!!!!!!4!!
1 4717*
-
saip
Okla., April
1914.
o the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been
placed in District
No. 11 of the Regional Reserve
Banking System,
declares its natural course
of trade and finan—
cial communication violated, and
quests that the districts be so urgently re—
that it will be in District No. re—adjusted
10, with head—
quarters at Kansas Ci
Ban
Officer Signing --77777:2e,we,#144,4_4„.!
quarters at Kansas
JAY.
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
w,..40
au
nanSaS (At
Bank
Officer Signing
c4u 11.ruiuu
7
-
Bank
ca4ka_44-76/
Officer Signing
_
Bank *
Officer Signing
)
- Y-z
-ArA7-1
Okla., April / 1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
ILT,.
11 ^P fUe. Ve evinr%fal PLIOArWA Ranking System
,
1111021*
,Okla, April
1914.
\
,
To the Federal Reserve Board
Wak;hington, D. C.
Gentlemen:—
in District
This bank, having been placed
Banking System,
No. 11 of the Regional Reserve
trade and finandeclares its natural course of
urgently re—
cial communication violated, and -adjusted
quests that the districts be so re with head—
10,
that it will be in District No.
quarters at Kansas ity.
27
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Uit
d.L.Aansas
Bank
Officer Signing
L,10 at. A.unsew
Bank
ulty.
Z
/9- e--
Officer Signing
Bank
Officer Signing
Okla., April
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
(
-masts that the districts be so re—adjusted
NOaJ, with head—
Okla., April
1914,
To t4e Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas
Bank
Officer Signing
quarLers at Kansas
City.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Officer Signing
Bank
Officer Signing
e
af,,yk
nyik4f
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April // 1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
System,
No. 11 of the Regional Reserve Banking
trade and finan—
declares its natural course of
re—
cial communication violated, and urgently
re—adjusted
quests that the districts be so
head—
that it will be in Dist ict No. 10, with
quarters at Kansas Cit .
Bank
okia•,
April
19147
To the Federal
Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been
placed in District
No. 11 of the Regional
Reserve Banking System,
declares its natural course
of trade and finan—
cial communication
violated, and urgently re—
quests that the districts
be so re—adjusted
that it will be in
District No. 10, with head—
quarters at Kansas City,
Officer Signing
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(-Okla., April 7 1914:
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in Dist ict No. 10, with headquarters at Kansas Cit .
a&f-/A-ek
Bank
Officer Signing
quarters at KarlekkCity.
Bank
APoz__
_
Okla., April g
1914.
To he Federal Reserve Board,
Wa ington, D. C.
i
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
d
o\
Bank
Officer Signing
j4
/
To the Federal Reserve
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas Cit .
Gl
Bank
Officer Signing
au nansas
City.
'1 HE CITY NATIONAL
BAATii OF HOBART.
Bank
Officer Signing
quart,cu
au
11.ailzao
l'ants Natiorr' 'Nvi/50c,;
Bank
Officer Signing
0
Bank
Of
Bank AMERICAN
NATIUNAL BANK,
Holdenville, Ukla.
Signing
quarters at
an
City,
Bank
Officer Signing
No.
-,
declares its natuLc....
communication violated, au
cial
districts be so
quests that the
No. 10, with hea(
will be in District
that it
quarters at Kansas G't
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
1914.
To the Federal
Reserve Board,
Washington, D. C.
Gentlemen:—
This bank,
having been placed in
No. 11 of the
Regional Reserve BankingDistrict
declares its natural
System,
course of trade and
cial communication
finan—
violated, and urgently re—
quests that the
districts be so re—adjusted
that it will be in
quarters at Kansas District No. 10, with head—
City.
Bank
Officer Signing
-Gnat 1 6 W11IL .411
..„
quarters at Kansas City.
Bank! Tu. CITY NATIONAL
BANK OF HOBART.
VW.J...1.,
Officer Sii7:ning
qUMF6evo
M6
LLaizocuo
v.LL,J •
Bank
Officer Signing
B7zik
Officer Signing
Bank AMERICAN
fr-72,A
raalriunia BANK,
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
lioldenville, Okla.
quarters at
Kansas City,
Bank
Officer
Signing
No.
declares its natuL.—
violated, au re—adjusteu
cial communication
districts be so
quests that the
No. 10, with head—
will be in District
that it
quarters at Kansas G't
VL 9
Ban
Officer Signing
Okla
April.„2/ —1914.
To the Pederal
Reserve Board,
Washington, D. C.
Gentlemen:This 139.nk, having
No. 11 of the Regional been placed in District
Reserve Banking System,
declares its natural
course of trade and
financial communication
violated, and urgently requests that the districts
be so re -adjusted
that it will be in
District No. 10, with
headquarters at Kansas City.
at, CITY
BANK OF EtOBART.
Bank
Officer Signing
quar6euu
au
L10.110MQ
04SM.1.10
V.LUJ•
& Mprdlants NPJ.icinP.S
Bank
Officer Signing
Bank
Officer Signing
t,7
1
J1 72/,7
Bank AMERICAN NATIONAL
BANE, Haldenville,
Okla.
Officer Signing
Aor
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
quarteri at
Kansas City,
Bank
Officer s4
-gning
No.
declares its nazuLc—
violated,
re-adjusteu
cial communication
districts be so
head
quests that the
No. 10, with
will be in District
that it
t
quarters at Kansas
Ban
Officer Signing
a
•
•
•
•
Okla., April 9 1914
66
2ili
tA4
4/1
Board.
,,,..ei
i_.-. 3-,5_,..,„"L
;
4411
11:1
Hobart,
Okla., April
1914\
T6 the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in
District
No. 11 of the Regional Reserve Banking
System,
declares its natural course of trade and
finan—
cial communication violated, and
urgently re—
quests that the districts be so
re—adjusted
that it will be in District No. 10, with
head—
quarters at Kansas City.
rrcrc
Nltionri ‘CiicrOc;
Bank
Officer Signing
C.)
7(
Bank
Officer Signing
Bank AMERICilig
NATIONAL BANK,
Holdenville, Okla.
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
quarters at
Kansas City.
Bank
Officer
olgning
Signing
1.L.
declares its natuL.._
violated, all, _
cial communication
districts be so re—adjusthead—
quests that the
District No. 10, with
that it will be in
quarters at Kansas G t .
/yrzi,t-
Ban
Officer Signing
•lb
L2.14fi-c(-14L
Okla., April q 19L4.
To the Federal Reserve Board,
Washington, D. C.
Ain
nigaod_c_OL____
ANL
April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas C.
Bank
A05,11 /
,
Officer Signing
° -Aay72
Bank AMERICAN NATIONAL
BANK,
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Haldenville, Okla.
quarters at Kansas
City,
Bank
Officer s4
4gning
No. J.J.
..
,
declares its natuL violated, a
communication
-adjust
cial
districts be so re
headquests that the
District No. 10, with
that it will be in
quarters at Kansas G t .
Ban
Officer Signing
I —
•
•
Okla., April
19?.4.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financ
--naunication violated, and urgently rebe so re-adjusted
--1-n _with head-
,Okla, April
/;-1914.1
To the
Federal Reserve
Board,
Washington, D. O.
Gentlemen:This bank,
having been placed
No. 11 of the
in District
Regional Reserve
declares its
natural course of Banking System,
cial
trade and financommunication violated, and
quests that the
urgently rethat it will be districts be so re -adjusted
in
quarters at Kansas District No. 10, with headCity.
Bank AMERICAN
NATIONAL BANK,
tioldenville, Okla.
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
quarters at Kansas
City.
sank
Officer si
-gning
No.
declares its natuLcviolated, au_
re-adjusteu
cial communication
districts be so
headthat the
quests
District No. 10, with
will be in
that it
.
quarters at Kansas G't
Ban
Officer Signing
!
IIIIIIIIIIIIIII.
:
11111111111111111111111111
III 411
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
L
L/It/f/ILL4e
Okla., April
19;L4.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas Olt,.
Okla., April
1914.
To"the Federal
W
Reserve Board,
ashington, D. C.
Gentlemen:—
This bank,
having been
No. 11 of
placed in
the
Regional Reserve
District
declares its
Banking System,
natural course
cial
of trade
communication
and finan—
quests that the
violated, and
that it will
districts be so urgently re—
be in
re—adjusted
District No. 10,
quarters at
Kansas City,
with head—
Bank
Officer °Igning
No. 1,
,
declares its natuLc....
communication violated,
cial
districts be so re—adjusteu
quests that the
District No. 10, with head
that it will be in
quarters at Kansas • t
Ban
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
•
f4 ,
Okla., April
191.4.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas Cit .
es_
Bank
01,
Officer Signing
quarters at Kansas
City.
neaa—
Bank
Officer Signing
JAI
quarters at Kansas
tilat lt
W2/1L
Bank
ilii!: CITY NATIOAAL
BANK OF ROBART.
Z RT 7 7
2
7 ).--
4
-2j/
,01
Okla., April/Sr 1914.
Board,
To tae Federal Reserve
Washington, D. C.
Gentlemen:—
placed in District
This bank, having been
Reserve Banking System,
No. 11 of the Regional
trade and finan—
declares its natural course of
and urgently re—
cial communication violated,
so re—adjusted
quests that the districts be
No. 10, with head—
that it will be in District
quarters at Kansas C:t .
Ban
Officer Signing
7
( 191.
Okla., April /
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
Officer Signing
Bank 7-4 arTokA-,
Officer Signing
quarters at Kansas City.
Bank fir
,
Officer Signing
Bank
Officer Signing
quarters at Kansas Cit!,
AI
,,,Ar
r
.
raw
Bank
4
SABI.
USN,IraLA
Officer Signing
it, wIll
we 7Trirrn- - -k,
ci x-v;
quarters at Kansas City.
/
Bank
k
Officer Signing
quarters at Kansas City.
Bank
Officer Signing
/
LIVA6 iLi vv,..- -- ____
at Kansas City.
quarters
B
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
hitk/k4
la )-ii 6)
r
Okla., A1Dri1l9M.
o the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed in Dis
trict
No. II of the Region
al Reserve Banking System,
declares its natural cou
rse of trade and financial communication violat
ed, and urgently requests that the districts
be so re-adjusted
that it will be in District
No. 10, with headquarters at Kansas City.
Bank
TZ
1
Officer Signing
•••••••••.1.0.
1••••
1
quarters at Kansas City.
Bank JA::/LV/ A- A-6
-7 J
—vtt/
7
Officer Signing
Bank
Officer Signing
quarters at Kansas
Cit:,
AI
Bank
AltXdf
L
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
LTZIL OKLA
Officer Signing
lu w1.L1
wuLLI
•
.4,
quarters at Kansas City.
,
Bank
Officer Signing
quarters at Kansas City.
Bank
Officer Signing
ImuL,i ,
quarters at Kansas City.
Officer Signing
/44e7 9
r
Okla., April
1914.
To the Federal Reserv
e Board,
Washington, D. C.
Gentlemen:—
This bank, having been pla
ced in District
No. 11 of the Regional
Reserve Banking System,
declares its natural course of
trade and finan—
cial communication violat
ed, and urgently re—
quests that the districts be
so re—adjusted
that it will be in District
No. 10, with head—
quarters at Kansas City.
Bank
fir
7/aJite—..S7
Officer Signing
,
Bank
Officer Signing
quarters at Kansas
Cit
Bank
`
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11111
LTSIt. VILA
Officer Signing
tnai
i
will ue in
JAW*
,
V 11
quarters at Kansas City.
/:
Bank
2
Officer Signing
quarters at Kansas City.
Bank
Officer Signing
quarters at Kansas City.
Officer Signing
/417
4
-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
JCZ—a—,r,_Pic
-
Okla., Apr i1 r' 1914:
,Okla, April /6 1914.
TO\the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in Dist
rict
No. 11 of the Regional Reserve
Banking System,
declares its natural course of trade
and financial communication violated,
and urgently requests that the districts be so
re-adjusted
that it will be in D' t ict
No. 10, with headquarters at Kalots
Bank
Officer Signing
quarters at Kansas
Cit
Officer Signing
-mat, lu will we
t.c
quarters at Kansas City
v
Officer Signing
quarters at Kansas City.
Bank
Officer Signing
•.••••
/44e7r9
Bank
Officer Signing
-mut, Ju
quarters at Kansas City.
VI ao
Altat
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
0
•
(
Okla., April /'
Board,
To the Federal Reserve
Wp.shington, D. O.
!
i
.
,Okla, April'o 1914/
T the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. •, with headquarters at Kansas Cit:,
AI
A.
LTElt. MLA
BASIL.
I=
Bank
Officer Signing
Lnal, IL will ue in
quarters at Kansas City.
Bank
Officer Signing
quarters at Kansas City.
Bank
Officer Signing
_
ww
mnuu
City.
quarters at Kansas
Ba
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
To the Federal Reserve Board,
W9dshington, D. C.
Gentlemen:
District
This bank, having been placed in
Banking System,
No. 11 of the Regional Reserve
e and finandeclares its natural course of trad ntly re__.
urge
,
- mmunication violated, and
-adjusted
''-4.1-icts be so re
---- 11._ with head-
Okla.
14_
April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City._
Bank
Officer Signing
quarters at Kansas City.
Bank
Officer Signing
ToriUlt
16
quarters at Kansas City.
Ba
Officer Signing
Ait4A
Jar>,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(
Okla., April /' 1914,
To the Federal Reserve Board,
Washington, D. O.
Gentlemen:—
District
This bank, having been placed in
Banking System,
No. 11 of the Regional Reserve
finan—
declares its natural course of trade and
urgently re—
cial communication violated, and
re—adjusted
quests that the districts be so
head—
that it will be in District No. 10, with
quarters at Kansas City.
Bank
Okla., April /,11914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
T.I146
16
quarters at Kansas City.
Ba
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
Okla., April
(7 1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
,
Officer Signing
Bank
Officer Signing
quarters at Kansas City.
1" "")
,Okla, April 1- 1914.
To the Federal Reserve Board,
Was?ington, D. C.
Gentlemen:
District
This bank, having been placed in
Reserve Banking System,
No. 11 of the Regional
and finandeclares its natural course of trade
urgently recial communication violated, and
ted
quests that the districts be so re-adjus
headthat it will be in District No. 10, with
quarters at Kansas City.
Ba
Officer Signing
Okla., April
1
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed in District
No. 11 of the RegiolAal Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re -adjusted
that it will be in District No. 10, with headk
quarters at Kansas City.
Bank SnaStat
....m.W.....ommwo.O.mmmmwmwm.mmmmmmlb
m
Officer Signing
1/4aZr, Xial;44;
:
Bank
c41,711/yvid24,41
Officer Signing
Bank-462'
'
Officer Signing
/
Bank
Officer Signing
quarer a .ansiu
Bank
Officer
quarters au Signing
Bank
‘Ke,
Officer Signing
U1M1
quests that the districts be so re-aajus-ueu
heake
that it will be in District No_,
quarters at Kansa3 Cit
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank.
Officer Signing
Bank
Officer Signing
%
''*-.", -4-' 1'
"AetelA,1,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
s
Okla., April i - 1914.
.
Wa\
To the Federal Reserve Board,
hington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
,ZdA
Bank
arrie/2ao.40,-
Officer Signing
Officer Signing
KORN STATE BA1411
KORN OKLA-
Offico,' 3 -- nil , _
quarters a 6 LailU t:L li1 6y
•
Bank
#.i
i
Officer
quarters au Signing
Bank
Officer Signing
quests that the districts be so re—aajusucu
4
that it will be in District No_r 10 eh head7
oarie
-r•-:
e.A o
quarters at Karlsa4 Cit
e,4 6
4
-/t•,
e
12
Bank
/244
Officer Signing
Bank
Officer Signing
ei-:24,5%.414.4,k
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okia., April
1914.
To The Federal Reserve Board,
Wasington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, wi th head2
quarters at Kansas City.
BanL.
Officer Signing
Bank
KORN STATE BA1115,
Officer Signing
quarters a-Li ratn5uu t,164?F
, i
Bank
Officer
quarters at Signing
-...
Bank
Officer Signing
U.LM.L
quests that the districts be so re-aajusuu
that it will be in District No
quarters at Kansas Cit 0%-"loter Zr
ha*;:e
Bank
Officer Signing
Bank
Officer Signing
/244
•
•
—/e0--—/
Okla., April
Ll9i.4.
the Fzderal Reserve Board,
ashington, D. C.
Gentlemen:This bank, having been placed in District
No. 11 of the Regional Reserve Banking Syst
em,
declares its natural course of trade and
financial communication violated, and urgently
requests that the districts be so re-adju
sted
that it will be in District No. 10,
with headquarters at Kansas City.
Bank _2RN
Officer Signing _
quarters at ii.ansas
STATE BANK, KORN
OKLA.-
....
ni
Bank
Officer
quarters au Signing
/
/1 1()2////:
••/ --;,)
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
quests that the districts be so re—aajuu
that it will be in District No_r 10,,,yriyth heaA7,
quarters at 4finsa4 Cit
Bank
Officer Signing
416(
ge4c_ /24--4(
Jr'
Bank ...2,4:11.41,Wx/
Officer Signing
•
•
Okla., April
Okla., April
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional
Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated
, and urgently re—
quests that the districts be so re—adjus
ted
that it will be in Dist
rict No. 10, with head—
quarters at Kansas City
.
Bank
Officer Signing
quarters a-G Atutoao
/Ftw /01
1
4
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
quests that the districts be so re—aajusueu
&th heak,
that it will be in District No_, 10
(Acc
, aquarters at KAnsa4 Cit 0"...1
Bank,
Officer Signing
Bank
Officer Signing
dAi/244
eLc, -Le-1
s
,
/
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed in Distri
ct
No. 11 of the Regional Res
erve Banking System,
A'aliaa-ita_ra.11 1_()urse
of trade and finan-
,Okla, April
1914.
To the Federal Res
erve Board,
Washington, D. C.
\\\
Gentlemen:
This bank, having
been placed in District
No. 11 of the
Regional Reserve Banking
System,
declares its natura
l course of trade and fina
ncial communicatio
n violated, and urgently
requests that the
districts be so re-adjusted
that it will be
in District No. 10, wit
h headquarters at Kansas
Cit
Bank
40eki;61-6"
Officer Signing
eim.L
quests that the districts be so re-aajusu
eu
that it will be in District Ng, 10,j h he
nt
A-4101(ALAcyk-tc. a474,
quarters at Kansa§ Cit
e,t"
Bank
ekt / 4
- 24
Officer Signing
s
Bank --4'
,
Officer Signing
41
4
7
-1
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
_12...4 Okla.,
April
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re -adjusted .
that it will be in District No. 10, with hea4lk
quarters at Kansas City.
Bank FinA Ste
0Ma.
Officer Signing._
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
1zyd,th head:that it will be in District No 10
Kansag Cit
quarters at
Bank
Officer Signing
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having bem placed in District
No. II of the Regional Reserve Banking System,
declares its natural cuurse of trade and financial communication violated, and urgently requests that •the districts be so re -adjusted
that it will be in District No. 10, with heaA
quarters at Kansas City.
Bank First Slat
Okla.
Officer Signing
Bank -, 7
C
2a,914,
\
\N.,
Okla., April . .11914.
To the Federal
Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the
Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and .urge
ntly re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City,
Bank
Officer Signing
•
•
Lindsay
Okla., April 11,1914.
To the Federal Reserve Board,
Washington, D. O.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Farmerr F change 3ank
Cashier
Officer Signing
Bank
d4
i "O'c'ee,e/K4V
Officer Signing
1=}
Bank
'Inc=
P-1
'
r
-" *-illorna.
Officer Signing
/".601;05•-•"'""
,-
Officer Signing
quarters at Kansas
wily.
Ban
-151-
Officer Signing
A
quests that mne
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
-2
)
‹X y
40
1
Officer Signing
quests uumL,
that it will be in District No. 10, with head—
quarters at Kansas City.
•0
Bank
,eIk A
211
V
"
Officer Signing
14.LACULS
une
Ue
bO
that it will be in District No.
quarters at Kansas City.
Officer
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
UU-aujuoucu
0, with head—
Bank
ci
Signing
4)
1
//J
(,.....„44
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
((,) C
Okla., April
1914N
\, To the Federal Reserve
Board,
Washington, D. C.
Gentlemen:
This bank, having been plac
ed in District
No. 11 of the Regional
Reserve Banking System,
declares its natural course
of trade and financial communication violated
, and urgently requests that the districts be so
re-adjusted
that it will be in District
No. 10, with headquarters at Kansas City.
/cee.(4
7
Bank
Officer Signing
Bank
Officer Signing
Officer Signing
quarters at Kansas
z44-4
wily.
BanE.62,
Officer Signing
quests that tne
that it will be in District No. 10, with headquarters at Kansas City.
Bank
Officer Signing
quesLs unau L'Llu
that it will be in District No. 10, with headquarters at Kansas City.
Bank
--4-A-41
Ic/A--
Officer Signing
La..w ulbuiluub U
U ru-aujuouuu
that it will be in District No. /
10, with headquarters at Kansas City.
Bank
Officer Signing
'7111111111111011101 '
.
1
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2
/
-
,Okla, April
1914.
\
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed in District
No. 11 of the Regional Reserve Banking
System,
declares its natural course of trade and
financial communication violated, and urge
ntly requests that the districts be so re-adjust
ed
that it will be in District No. 10,
with headquarters at Kansas City.
'•2•*-14t
Bank,
Okiahoma,
Officer Signing
Officer Signing
auarters at Kansas
ulTy.
Ban
Officer Signing
quests that -one
-that it will be in District No. 10, with headquarters at Kansas City.
Bank
Officer Signing
quests unaL, lotiv
that it will be in District No.
quarters at Kansas City.
io, with
head-
Bank
Officer Signing
tlueLJG ;_cluu WUllUUb uu bt) ru-aujusuuu
Ulb
AU
that it will be in District No.
with he
quarters at Kansas City.,
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,Okla, April
To the Federal
Reserve Board,
Washington, D. C.
1914.
Gentlemen:_
This bank, having
been placed in
No. 11 of the
District
Regional Reserve
Banking System,
declares its natura
l course of trade
cial commun
and finanication violated,
and urgently re
quests that the
districts be so re
that it will
-adjusted
be in District
No. 10, with hea
quarters at Kan
dsas C
Bank
Officer Signin
g
quarters at Kansas Ult
y.
Banitafy
7ar
/7
Officer Signing
A-1-d
quests that mne
that it will be in District No. 10, with headquarters at Kansas City.
7,1-0
Bank
Officer Signing
Y :4
411r
that it will be in Districi-NO: 10, with headquarters at Kansas City.
Po
,
Bank (
A
Officer Signing
clue
6fittu
1
?
)
bu ru—aujuo uuu.
that it will be in District No. ,l0, with headquarters at Kansas City.
/77
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,Okla, April/iV/1914.
he FederalReserve Board,
sington, D. C.
leh
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headauarters at Kansas City.
-7
Ban14.2e2A/(Ye
Officer Signing
_
quests that the districzs De by AV
10, with headthat it will be in District No.
quarters at Kansas City.
Bank
II
Ab
Officer Signing
quests -r,na-5 wit, (1156clUtai UV ov ay
10, with headthat it will be in District No.
quarters at Kansas City.
Bank
-
Officer Signing
uu-aujuouuu
L.110,L, uiit c.
cluu:J
with headI
ct No. f
that it will be in Distri
quarters at Kansas City.
Bank
Officer Signing
Okla., April 11,1914.
To the Federal Reserve Board,
Washington, D. O.
Gentlemen:—
District
This bank, having been placed in
System,
No. 11 of the Regional Reserve Banking
and finan—
declares its natural course of trade
41—
'
cial communication violated, and lIrr
rmAAtcs
thin+
+1,.
'4411161111111111101MINNIMMINIMMIliallik-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
4/...e.,,d4.ei Okla., April
914.
rd,
To the Federal /serve Boa
Washington, D. C.
Gentlemen:—
ced in District
This bank, having been pla
e Banking System,
No. 11 of the Regional Reserv trade and finan—
of
declares its natural course
ly re—
n violated, and urgent
cial communicatio
re—adjusted
so
quests that the districts be
d—
ct No. 10, with hea
that it will be in Distri
quarters at Kansas City.
,
Bank
Officer Signing
sts laluk, kiLLV %.4.40
que
ct No. 10, with head—
that it will be in Distri
quarters at Kansas City.
o
Bank
DrI
Officer Signing
ru-aujuouu,,
with head—
ct No.
that it will be in Distri
quarters at Kansas City.
Cit.te
6112JL,
Lille
Bank
Officer Signing
UU
V
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-.
• ......,,,,,,...,........... 1
Okla. a April 11,1914.
Lind
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
.
ank
.
Farmere F chany3
Bank
Officer Signing
quuruvlo "u
41•1111111111111=1,---
f.)17;;ION
1914.
Okla., April
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
District
This bank, having been placed in System,
Banking
No. 11 of the Regional Reserve trade and finan—
declares its natural course of
urgently re—
cial communication violated, andre—adjusted
quests that the districts be so
10, with head—
that it will be in District No.
quarters at Kansas City.
Bank
J
Officer Signing
uJ.buvieub- u
quuu -cu t,ziuu
y rb-a.ujubuou
No.
that it will be in District
as City.
quarters at Kans
0, with head—
//
Bank
Officer Signing
r
>
O
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
Okla. April 11,1914.
:
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently
re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with
head—
quarters at Kansas City.
Bank
Farmers F change
Officer Signing
Li IA tl L 1,01 0
ank
Cashier
Gig
Bank
Officer Signing
,Okla, April
1914.
T the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re-adjusted
that it will be in District No. 0, with head—
quarters at Kansas City.
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
e
41/ c inia
AP°
41,
,Okla, April
1914.
To he Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City,
PA:-12412Ai•
I/
4
4111111111111111Pnt
1111
Officer Signin.
zna-u 1-& will De in District No. 10, with
headquarters at Kansas City.
--nto
Bank
Officer Signing
•
e
Bank Mart11, Satn Bank,
. 4..
Officer Signing
quarters Ut, 11.Mitzmo
p-74
1.0.y
°First State Bank.
Bank
Officer Signing
quarters MLA
Bank
ca
.4,•••
Officer Signing
7(
Bank d Officer Signing
/rust 1)10.
Bank
Officer Signing
Mi-rAliister,
iLlirla.
ACTIVE VICE.DDrenkw
Bank
Officer Signing
qutu",
Bank
Officer Signin
AdY!.t.TT.0e-oweadg
/;,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
- 191 .
the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
+2 1
Bank (11
'"""
Late
Officer Signing
Bank
fl,
Casl.icr
"artha SLats Bank,
Officer Signing
quarters a6 ilualzmo
ov&
J
v
ISlate
Bank.
Bank
Officer Signing
C
quarters
111cA LESI Itrc,
Bank THE BANK OF
Officer Signing
"---- -C;•15-7-j7-7- Q
Bank :**71--e
‘1(-1-‘4A-4"
/1-1124-44
Officer Signing
Bank
Officer Signing
AICTIVE VICEPc
Bank
Officer Signing
quart,
Bank
Officer Signin
=-,-r&A(4/
r
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yuralf14
Okla., April r-7 1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in
District
No. 11 of the Regional Reserve
Banking System,
declares its natural course of trade
and finan—
cial communication violated, and
urgently re—
quests that the districts be so
that it will be in District No. re—adjusted
10, with head—
quarters at Kansas City.
Bank Martha State Bank,
Officer Signing 6
3Vr.--e--4.7
quarters au aalimmo VA. ‘0,y •
'Qf Pr:4; Bank.
Bank
Officer Signing
quarters mu
McALES1
Bank THE BANK OF
Officer Signing
Bank
4,72,1.
2
7Cea-1L-0,--.--#L. .01
Officer Signing
Bank
Officer Signing
rust Lill).
Aft;Aiuster, atria.
icrivE
,
Bank
Officer Signing
Officer Signin
=-%e42144W/is .66.046)
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
411 1
ADD
1Q1
,Okla, April
411
191C----1
111—
41.10011104160POOMPIMIN100~'
i
/LLESIA__ Okla., April
1914
o the Federal Reserve Board,
ashington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City. .
Tst Slate Bank.
Bank
,
M,
Cte.fib
Officer Signing
quarters btu
THE BANK OF
Bank
Officer Signing
McALE6'i I:It,
Cra2-1-•
Bank C771-
C6z-A.AL--------"- /1-11st-44
Officer Signing
-
Bank
>
Officer Signing 4V
Bank
Officer Signing
Officer Signin
CAVI:irust
C:o.
E., luster, Okla.
acrivE VICE-Doreuk„,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
APP 16 1914
:Okla, April
411
To he Federal Reserve Board,
Washington, D. C.
NicALESTERt
Okla., April 1 1914.
erve Board,
To1. the Federal Res
Washington, D. 0.
1
Gentlemen:—
placed in District
This bank, having been
tem,
Reserve Banking Sys
No. 11 of the Regional
finan—
rse of trade and
declares its natural cou
ed, and urgently re—
cial communication violat
be so re—adjusted
quests that the districts
No. 10, with head—
t it will be in District
tha
quarters at Kansas City.
TER,
Bank
Officer Signing
THE BANK OF MeALES
.
4:)
1
Bank C:77
Officer Signing
Bank
Officer Signing
Bank
Officer Signing
Bank
Officer Signin
•
//frui,C4
rust
, luster, (Akin.
mcnvEvicE.pokNe,,,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
_41.0
411
APP i6 1914
:Okla, April
--193.4'.
Toi he Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
rlitricts be so re-adjusted
Okla., April
Board,
To the Federal Reserve
Washington, D. C.
Gentlemen:—
placed in District
This bank, having been
,
rve Banking System
11 of the Regional Rese
an—
fin
No.
se of trade and re—
declares its natural cour
urgently
ated, and
cial communication viol
be so re—adjusted
quests that the districts
No. 10, with head—
that it will be in District
quarters at Kansas City.
Bank
Officer Signing
•-
• AL -a-
Bank
Officer Signing
qualulo "w
Officer Signin
_Z, rust
,
Uo.
ustur, 4ukin.
MenVE vicE.pnitiarj„
Officer Signing
Bank
r .L -
-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
_41
411 6 igi4
Apn
411
•
,Okla, April
1914.
To he Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with head-
1914
Okla., April
To the Federal Reserve Board,
Washington, D. C.
\
Gentlemen:
District
This bank, having been placed in
System,
No. 11 of the Regional Reserve Banking
trade and finandeclares its natural course of
cial communication violated, and urgently reed
quests that the districts be so re-adjust
10, with headthat it will be in District No.
quarters at Kansas City.
McAlester Trust CO.
Bank
(-31, tlkla.
aCTIVE VICE
Officer Signing
Bank
6 ca
ye_ef€/u/s
Officer Signing
Officer Signint
,ee
..-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
411
AP° 6 M4
,Okla, April
To he Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in r
No. 11 of the Regional Reserve Banking
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City
44=415:11Officer Signin
with head-
/-
41111111111111111111111111111111111111
April
1914.
To be Federal
Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in Distr
ict
No. 11 of the
Regional Reserve Banking System,
declares its natural course of trade and
financial communication violated, and urgen
tly requests that the districts be so re-adjusted
that it will be in District No. 10, with
headquarters at Kansas City.
Bank
Officer Signing
utt
c..
Officer Signin
/ 1Y
a
/
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
AP° 1 6 1914
41
,Okla, April
To!'
the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in r
No. 11 of the Regional Reserve Banking
declares its natural course of trade and. rinan—
cial communication violated, and urgently re—
quests that the districts be so re-adjusted
that it will be in District No. 10, with head—
quarters at Kansas W,3 p.
1.
.43 4.12111.
.12
Officer Signin\g__Z:-----y
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
_ ....gficer Signing
,Okla, April / 4 1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently re—
quests that the districts be so re-adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Officer Signin
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Greek, Okix,
MI A State Bank
7
Bank
-
Officer Signing
(
c
iAvR
ta
u t
a u
Officer Signing
1
Bank
Officer Signing
.41
4/
that it will be in District No. iv, witn
neauquarters at Kansas City.
Bank
41
TEXMC COTT0 E),LY, Nrir
Officer Signing
.•
t
quarters at Kansas City.
Mc-k,tetain park state Bank,
Bank Tot_ACJIN
((,/
Officer Signing
quarters at Kansas Cit
/2
Bank(
7)
Officer Signing
INIU •
quarters at Kansas City.
Bank
Officer Signing
.04
1.11Q ,
that lt will uu
quarters at Kansas C*
Ban
Officer Signing
4.1.%)
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
1914.
70 the
Federal Reserve Board,
W
ashington, D. C.
Gentlemen:—
This bank, having been placed in
District
No. 11 of the
Regional Reserve Banking System,
declares its natural course of trade and
finan—
cial c
ommunication violated, and urgently re—
quests that the
that it will be districts be so re—adjusted
in District No. 10, with head—
quarters at Kansas City.
-614,1104,7,
BankRkaA4C
4/6-"h401
Officer Signing
Bank
Officer Signing
that it will be
in District Bo. iu, witn neau—
quarters at Kansas City.
Bank
TLIZ, TI'
Officer Signing
quarters at Kansas city.
))
(
9
BankViountaln ra,rk liftoff, Bank,
Officer Signing
(47
quarters at Kansas CM
Bank
JI/L<J,
Officer Signing
witin
•
neaa-
quarters at Kansas City.
k.
•••••
Bank
Officer Signing
that it will ut,
quarters at Kansas C
Bank
Officer Signing
,(4 tt-e,d,r4-4/9,1,44‘7
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
221,e,t;t1_-;-0
,Okla, April
1914.
To the Federal Reserve Board,
Wa hington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
Officer Signing
that it will be in District ho. iu, wiIn nealaquarters at Kansas City.
Bank
Tat TEXr Y'r'''','
Officer Signing
' , / ,•Z4,-,--),
_-- (Y'
/
/)1
quarters at Kansas City.
Mama:ten Park State Bank,
Bank
LINT
Officer Signing
quarters at Kansas
•
(A/
Bank
Officer Signing
161a •
,
quarters at Kansas City.
:...;
Bank
Officer Signing
that is will wu JLA
quarters at Kansas C
Officer Signing
•
s
-" 9
-- /Logi fi•q.
‘/
••• s."
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
1914.
the Federal Reserve Board,
lington, D. C.
Gentlemen:—
This bank, having been placed in District
11 of the Regional Reserve Banking System,
No.
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
i:jTEXRIC COTTOX.;
Bank
Officer Signing
r•
t-
4.
quarters at Kansas City.
Mottivtata
PRI* State Bank,
Bank
A/
Officer Signing
,
i
quarters at Kansas Ci'yp
Bank
(f"
Officer Signing
'AA)/
mu.
wlun
at
quarters at Kansas City.
-rr.lcp-7;
Bank
Officer Signing
that it will uu
quarters at Kansas Ci
Ban
Officer Signing
ttf.---4,1IVia4
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
/)
(cy (64ce
Okla., April
191
To the Federal Reserve Board,
Washington, D. C.
14640,044
%
MOUNT
Okla., April
1914.
To ie Federal Reserve Board,
Wash). gton, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 af the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
&to-mutat:a Park gtate Bank,
Bank
Officer Signing
quarters at Kansas Cit
/2
( err--'
Bank 7) ktilOfficer Signing
1
v s, 1.t.;
.1.1U
1
2 wi-Ln neaa-
1V,
quarters at Kansas City.
C:Jorionls LanZT,
Bank
Officer Signing
that it will uu
quarters at Kansas C
Bank
Officer Signing
j-`-/
((e'
_
I
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
C
f
Okla., April
191
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking
System,
declares its natural course of trade and finan—
cial communication violated, and
urgently re—
Quethat the districts be so re—adjusted
Okla., April
1914.
T the Federal Reserve Board,
Wa hington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas Cit /3
Bank
(7
.-Yo'kii-7
-va/
Officer Signing
-4d.s. 4.4 %.•
J.4.1
AV U •
quarters at Kansas City.
';117,orc,hor.1_,Earin:
:
Bank
Officer Signing
that it will ue 1.11
quarters at Kansas C
Ban
Officer Signing
,
4*
41. •.•
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
Okla., April
191
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in
No. 11 of the Regional Reserve BankingDistrict
System,
declares its natural course of trade and
finan—
cial communication violated, and
urgently re—
quests that the districts be so
re—adjusted
that it will be in District No. 10,
with head—
quarters at Kansas City.
Bank
Officer Signing
:A State Bank Mill Greek, Oki.
(-/
--4-44omputtamtmw
Okla., April / 1914
To the Federal Reserve Board,
Wa hington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 101 with head—
quarters at Kansas City.
Y::;:1‘137,15Eank
Bank
Officer Signing
that it will uu
i0
quarters at Kansas C 00
f
Ban i
Officer Signing
tikk4
-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
Okla., April /191
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in
District
No. 11 of the Regional Reserve
Banking System,
declares its natural course of trade and
finan—
cial communication violated, and
urgently re—
quests that the districts be so
re—adjusted
that it will be in District
No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
Officer
6t State Bank Mill Gm*,Oklm.
/(
Officer Signing
Bank
Officer Signing
that
"
AP./
Okla., April
19141
Board,
To the ederal Reserve
Washington, D. C.
Gentlemen:—
begpplaced in District
This bank, having
Reserve Banking System,
No. 11 of the Regional
trade and finan—
declares its natural course of
and urgently re—
cial communication violated,
so re—adjusted
quests that the districts be
No. 10, with head—
that it will be in District
quarters at Kansas C
Bank
Officer Signing
(
APP6 -irr
7/
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas Cit .
_Y(/__/)///
62(
0 (1(Ai
Bank
Officer Signing
AIeL
0--/ -Q?,'.
Amarom.mmor......mmormommoomemomm ,
Officer Signing
11011,../11
&
aa.c4a ,u colaV aY •
Ban
Officer Signing
quarters at is.ansuu
do\
/h64.3i-Z
1/61
/
1
Ar
=
tojr •
Bank
Officer Signing
Bank
Officer Signing
quarters at Kansas City.
Bank
/
Officer Signing
_
quarters at Kansas City.
UILMU
AV
Bank
First State Bank
rotas et, Gicl.m.
Officer Signing
quests that the districts be
so re—adjusted
that it will be in District
No. 10, with head—
quarters at Kansas City
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank
Officer Signing
c1 71-s
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla!/April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial commllnication violated, and urgently requests that the districts bo so re-adjusted
that it will be in District No. 10, with head
quarters at Kansas City.
I
Of icer Signing
%.1 •.•
4.0
4.4 41
s.acla.a0G•O
VA 14•
Ban
Officer Signing
quarters aT. awlap
Bank
Officer Signing
71
42
W0
(
4r—(67
Bank
Officer Signing
quarters at Kansas City.
Bank
C
Officer Signing
quarters at Kansas City.
Bank
First State Bank
et,(*ht.
1'
.-ttut),
(
Officer Signing
quests that the districts be
so re—adjusted
that it will be in District
No. 10, with head—
quarters at Kansas City
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MAv °
- 1/
Okla., April
1914.
T the Federal Reserve Board,
Wishington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Ban
Officer Signing c
quarters al, Ilts.litto
Bank
Officer Signing
e "/Pera-
73,„,/
‘&174'
f
/ /
0 21 ea/ve-
Bank
Officer Signing
quarters at Kansas City.
7)
Bank
Officer Signing
61Lodu
_
quarters at Kansas City.
Bank
First State Bank
Poesuet, Okla.
,V
Officer Signing
quests that the districts be so
re—adjusted
that it will be in District
No. 10, with head—
quarters at Kansas City
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
20,d-6
J
p/
Okla., April
1914.
-o the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
District
This bank, having been placed in
Reserve Banking System,
No. 11 of the Regional
and finan—
declares its natural course of trade
and urgently re—
cial communication violated,
re—adjusted
quests that the districts be so
with head—
that it will be in District No. 10,
quarters at Kansas City.
Bank
Officer Signing
Bank (1
4
.1
71f
At
aalt/
?
V1/ ,17641illi,4/„
ar,t7c
244
4 - /1
Officer Signing
•
quarters at Kansas City.
)
ce
Bank
z
et,4
(')
Officer Signing
J. V,
quarters
.v.
• ••
—
_
_
—
at Kansas City.
Bank First State
Bank
0 7,r,tA2
1\4
et) t)1(1 811(6
— ,
t
Officer Signing
quests that the districts be so re—
adjusted
thatit will be in District No.
10, with head—
quarters at Kansas City
Bank
Officer Signing
/
1
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
Ata Ifitati
s
,Okla, April
1914.
1914.
T the Federal Reserve. oard,
Wishington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently re—
quests that the districts be so re-adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
ar—r•47
(
Bank
Officer Signing
f
itM
quarters at Kansas City.
Bank
c,e_A.
Officer Signing
IdUMU
_
quarters at Kansas City.
First State Bank
Bank
rOGAnet, Okia.
(i)(,))
Officer Signing
7
quests that the districts be
so re—adjusted
that it will be in District
No. 10, with head—
quarters at Kansas City
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. O.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
-a--lares its natural course of tradA
A."'
AMMEMW
•)
----1
- •
/
4
" --- '
-e-,7
Okla., April / 1914.
/T the Federal Reserve Board,
W shington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
ec_eA
)
Bank /qK"
Officer Signing
"....wi.m.
quarters at Kansas City.
Bank
<
<
C
First State Bank
hpaspet, Okitt
Officer Signing
quests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
77/ /77W-16/
/
'
Okla., April
191
To the Federal Reserve Board,
Washington, D. O.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas Cit .
Bank
Okla., April
....AZUBJ.1914
1914.
To he Federal Reserve Board,
l
Wasington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
First State Bank
Bank
9#
et, &la
42 JQ;V
Officer Signing
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City,.D
.
Bank
Officer Signing
67
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
/
Okla., April
191
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas Cit .
j/A/CAC
-
Bank Z
Y
Officer Signing
"' L--e.-2-.-.L....z...c........!..--,7-4,-(4
-1A-P-IC Dtti2li. _41(1 z e-ct--
--e-i- 7
--11 - --c4 ,--
2.A
Officer Signing
/
Of
w
41.16G•L
Gib 10
Ban
Officer Signing
%NY •
404,11,-
e_
Okla., April I 0 1914
To the ederal Reserve Board,
Washingt n, D. C.
Gentlemen:—
This bank, having been placed in Distr
ict
No. 11 of the Regional Reserve Banking Syste
m,
declares its natural course of trade and finan
cial communication violated, and urgently re— —
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City
Bank
Officer Signing
1914.
Okla., April
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
1
T -R1gr1.nT14, (11TIN7V
Bank
H
aishicr_
Officer Signing )
Bank t/-ccr
Officer Signing
6
quar- 1.
Bank
/ afrinvy
la
1,(41,7-
et.A.
uinton
Farmers State Bank, S
Officer Signing
Officer Signing
__
va
tao
that it
UO
will be in
re-aajusted
District No. 10,
quarters at
with headKansas City.
'I
Bank
Officer Signi
ng
'At
/
Air AElkaallip
7- )
0
,4
Bank ‘211
Officer Signing
(
7(
,)
•,,-
quarters at Kansas City.
Bank
414a4
9
Officer Signing
quests that the districts be so
re-adjusted
that it will be in District No.
10, with headquarters at Kansas City.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank
Officer Signing ,7 /
\
27r? Vk:4---e_)--t----
31- ,,
td tre et
Okla., April
191k.
o the Federal Reserve Board,
Washington, D. O.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
1-0/CW/4)(1;f/c9-tirititi'
Bank
Officer Signing
qUar-
-
Bank
FlITners State Bank,
untton
Officer Signing
Officer Signing
that it
0 re-aa
will be in
justed
District No. 10, with
quarters at
headKansas City.
Bank
ef2__
Officer Signi
ng
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank
4u, c
tk-ti
Officer Signing
f
quarters at Kansas City.
pWf%
Bank
Officer Signing
quests that the districts be so
re-adjusted
that it will be in District No.
10, with headquarters at Kansas City.
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1914.
Okla., April/al
Reserve Board,
the Federal
To
Washington, D. C.
District
placed in
Gentlemen:
having been
Banking System,
This bank,
Regional Reserve trade and finanNo. 11 of the natural course of
urgently redeclares its
violated, and re-adusted
communication
cial
districts be so
with headthat the
quests
District No. 10,
in
that it will be
Kansas City.
quarters at
,
Bank
i-armers State Bank, Quinti
Officer Signing
v.L;21,1•21I
Officer Signing
_
CO
UU
that it will
o re-a
be in District sdjusted
No. 10, with
quarters at
headKansas City.
---.....f 14.1.
J. l.• li
Bank
Officer Signing
sib
Bank <lln -1/ /
c
Officer Signing
44)(1
,,r
quarters at Kansas City.
Bank
Officer Signing
quests that the districts be so re
-adjusted
that it will be in District No.
10, with headquarters at Kansas City.
Bank
Officer Signing
Okla., April
To the Federal Res
erve Board,
Washington, D. 0.
1914.
14 4-t&
e
t
Gentlemen:—
This bank, having been placed
in District
No. 11 of the Reg
ional Reserve Banking System,
declares its natural course
of trade and finan—
cial communication vio
lated, and urgently re—
quests that the districts
be so re—adjusted
that it will be in Dis
trict No. 10, with head—
quarters at Kansas Cit
y.
Bank
Officer Signing
that it wil
6.c) re-adjusted
l be in Distri
ct No. 10, with
quarters at
head—
Kansas City.
Bank
,(
1 40
Officer Sig
ning
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
/ Admidilk
Bank dif
Officer Signing
"Wet
quarters at Kansas City.
Bank
C5L,
Officer Signing
quests that the districts be so re—adj
usted
that it will be in District No. 10,
with head—
quarters at Kansas City.
Bank
Officer Signing (-A i ) 2
/j
,
•
Okla., April
1914•
To the Federal Reserve Board,
Wihjjgtofl, D. C.
4 i7 A-aA
a-t
,Okla, April
1914
o.the Federal Res
erve Board,
ashington, D. C.
Gentlemen:
This bank, having
been placed in Distri
No. 11 of the
ct
Regional Reserve Ban
king System,
declares its nat
ural course of trade
cial commun
and finanication violated, and
urgently requests that the
districts be so re-adjus
that it will
ted
be in District No
. 10, with headquarters at Kan
sas City.
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank
Officer Signing
quarters at Kansas City.
Bank
Officer Signing
quests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
Officer Signing 4//3.
2
,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
S
O
.1:0ter04
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
District
This bank, having been placed in
System,
No. 11 of the Regional Reserve Banking
,Okla, April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
m,
No. 11 of the Regional Reserve Banking Syste
e of trade and finandeclares its natural cours
re—
cial communication violated, and urgently
-adjusted
quests that the districts be so re
head—
that it will be in District No. 10, with
quarters at Kansas City.
Bank
Officer Signing
_
quarters at Kansas City.
Bank
e,
5Le
Officer Signing
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
District
This bank, having been placed in System,
Banking
No. 11 of the Regional Reserve
trade and finan—
declares its natural course of
urgently re—
cial communication violated, and
re—adjusted
quests that the districts be so
with head—
that it will be in District No. 10,
quarters at Kansas City.
Bank
,Okla, April
1914.
To the Federal Re'rye Board,
Was1ington, D. C.
Gen lemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re-adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1914.
11
Okla., April
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
District
This bank, having been placed in System,
Banking
No. 11 of the Regional Reserve
and finan—
declares its natural course of trade
and urgently re—
cial communication violated,
re—adjusted
quests that the districts be so
10, with head—
that it will be in District No.
quarters at Kansas City.
Bank
/
plq71
__T ri+rt nP'P
/
<n
:try
P
Officer Signing
HA v rti rii,d,i-A_
c,c-E /4J a/
VTBank 1/ re,
Officer Signing
Bank
(1711,6
a &Ai
(14 tiryt>1
Farmers State bank,•Wilt041
Okla., April
To
Federal Reserve Board,
Washi gton, D. C.
thi
Ar_
19141
\
Gentlemen:
This bank, having been
placed in District
No. 11 of the
Regional Reserve Banking System,
declares its natural
course of trade and finan—
cial communication
violated, and urgently re—
quests that the
districts be so re—adjusted
that it will be in
District No. 10, with head—
quarters at Kansas
City.
Bank
Officer Signing
Gentlemen
This bank, having been placed in District
No, 11 of the Regional Reserve Banking System,
finan—
declares its natural course of trade and
and urgently re—
cial communication violated,
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
,i1-441.4Bank
/
/
Officer Signing
Officer Signing
-511E
lu wIli
quarters at Kansas City.
Fifsi State link; Stigler, Okla,
Officer Signing
_
,
3.uviecs De so
that it will be in District No.
quarters at Kansas City.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
parili, Stato Ba7.0.
Stratford,
doe
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1914.
Okla., April
To he Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank CltAns State
Bank, Roosevelt, Okla,
Officer Signing
Bank
•
Officer Signing
Bank
Officer Signing
Livaruers am liansas City.
Bank
Officer Signing
/
quarters at ilansas ulTy.
Bank
7A:c,
7
(5
Officer Signing
u.s.ouz
zna-c 1U W111 wo
quarters at Kansas City.
Officer Signing
quarters at. AtuLzao
s
171
!trrrs
Bank
/!Ti.g or
•
'kJ J.
Bank
First State Bank, Stigler, Okla.
Officer Signing
_
pe so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Barik9 Stato Ban' f Stratford,
Olaf
Officer Signing
t(
wit)
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
APR 1 4 19g
1914.
Okla., April
the Federal Reserve Board,
Wa hington, D. C.
Gentlemen:
in District
This bank, having been placed
Banking System,
No. 11 of the Regional Reserve
trade and finandeclares its natural course of
urgently recial communication violated, and -adjusted
re
quests that the districts be so
10, with headthat it will be in District No.
quarters at Kansas City.
FIRST
STATE BANK.
Bank
Officer Signing
fACJAK;a0iiiii STATE BANY_
Bank
Officer Signing
ciu.0.1k,cvb mu Lansas
uity.
Bank
Officer Signing
quuruucts
amnbau
Bank
Officer Signing
zna-G lu wizi uo
quarters at Kansas City.
•
111,
Af
NI VI No
Bank
Officer Signing
quarters uu Ja.m“z.
7
./
J. Vey •
Bank
RE3IKNT
/1 r
Officer Signing
_
De so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
, dir
fStratford,
Officer Signing
g
4
colikZ.
'4'•7
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-
,Okla, April/‘ 1914.
Reserve Board,
To \sthe Federal
Washington, D. C.
Gentlemen:
been placed in District
This bank, having
System,
Regional Reserve Banking
No. 11 of the
trade and financourse of
declares its natural
violated, and urgently recial communication
districts be so re-adjusted
quests that the
District No. 10, with headthat it will be in
quarters at Kansas City.
OKILLOWYA STATE BANK
Bank
Officer Signing
quurLerS am liansas City.
Bank
Officer Signing
quuruecb
MU
UM1175MO
ulby.
Bank
Officer Signing
wia, 16
wo A4A Lia.oug
quarters at Kansas City.
Furrers
Bank
Officer Signing
quarters au mauLz0,0
%A
Bank
nerchants
l4 •
First State Bag;
ler 010,
Officer Signing
_
oe so re-adjusted
that it will be in District No. 10,
with headquarters at Kansas City.
Bagfile Stath Ban
3f Stratford,
1
Officer Signing
17
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla.. Aril
0,7CvC
7 14
•
Okla., April
1914.
••••••••••••••
To the ederal Reserve Board,
Washington, D. C.
]
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
Officer Signing
quarters at Kansas City.
Bank
,
/c_-*;;--e-e,--ee
Officer Signing
tna-u 16 W111 wo 4,s1 JJ.Lot.L.Luiv
quarters at Kansas City.
Bank
--r-ers
rchants Eank i
)
Officer Signing
quarters 1:1,6 Ja.mLLzao
Bank
Vj•
Fifsi State Bank, Stigler, °Kilt
3P4r,wr
Officer Signing
_
-.QulieLs De so re-adjusted
that it will be in District No. 10,
with headquarters at Kansas City.
&aide State Ban4f Stratford,
Officer Signing
/
141
Wimisr 410-4111r,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,
V,
, ,o c c7t,
1
Okla., April 2 14
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
District
This bank, having been placed in
Banking System,
No. 11 of the Regional Reserve .
_
f4nan—
1914.
Okla., April
To tie Federal Reserve Board,
Wash ngton, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
Officer Signing
zna-c 16 W111 Wu .L.LL£J.%LS%
quarters at Kansas City.
Bank
Officer Signing
quarters Et .10.1:14L00,0
Bank
W.
ers
/7n
ierchants
7)
-1- ,
/ f- --11-1
-
•
First State Ban1,1 Stigler, Okla4
44)\
R.F.W4IiNT
Officer Signing
,
.__ 61- leus De so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
,
paiie Stato Ban2; f Strat±brd.,
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April -7 19
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
District
This bank, having been placed in
m,
No. 11 of the Regional Reserve Banking Syste finan
and
declares its natural course of trade
violated, and urgently recial communication
quests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Okla., April
1914.
To t461 Federal Reserve Board,
WashAligton, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
,
Officer Signing
quarters at, 1111.11.0.z
Bank
•
First Stale er.n1., Stigler,
Okla,
iALI\
Rt3IPTiWr
fill
Officer Signing
_
,Lvlecs De so re -adjusted
that it will be in District No. 10, with headquarters at Kansas City.
,fStrattbrd,
Bar9k9 Stato 13an.la
Officer Signing
..elnifinLorAd,d604..wri
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
/
Okla., April r--7 19
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan
ted, and urgently recial communication viola
quests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Officer Signing Q ,
.
5 111Z111
)
banic
1 mi
Oldlu
A
•:.-z7:0..::i!:
Okla., April
1914.
,
To the Federal Reserve Board
C.
Washi gton, D.
Gentl1men:
d in District
This bank, having been place
Banking System,
No. 11 of the Regional Reserve
trade and finandeclares its natural course of
and urgently recial communication violated,
so re-adjusted
quests that the districts be
No. 10, with headthat it will be in District
quarters at Kansas City.
tiger, Okli.
Bank
,
r•
Officer Signing
oe so re -adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bat
Stato Ban AK
r
r
Officer Signing
arD /4,--
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
14
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Officer Signing -.27'
Bank ;ITizeris gigie
6
Officer Signing
1
A-triAt
6-Idt ,f r
Bank
.
Officer Signing
STATE BANK
Bank
Officer Signing
quarterR n+ 17—
,Okla,, April ‹_--1914.
Totlie Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re -adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bagfilio Stath
Officer Signing
f Stratford,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
.
,Okla, April /0 914-To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas
Bank
Officer Signing
Officer Signing
r
2
Z e.d-t\
e
4-0
The 2iz3t State Brzl.
-‘,047:7"
Vice-prez
Bank
Officer Signing
Bank
Officer Signing
that it will be in
quarters at Kansas
Officer Signi
k•I
I
tO
10
fa* U.
P,
ti.M.Iipa
a.
...a
MERCHANTS STATE Pi:I.':
•
Bank
Officer Signing •--,//
neaa-
0
quarters at Kansas City.
Bank
E.
Officer Signing
l• /ICI. La
J. to
VII -I.
J.
1.) V.;.LA
J.0 to I, 1. l• Li
.1.11
*
V
WV I. WA.
L.:L.LUL —
quarters at Kansas
Bank
/ :9:
17
,7-erA.
Officer Signing
quarters at Kansas City.
Bank
Officer Signin
0
,24-4 00,/
ey<f-lcut—,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
1914.
T, the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
vj
Bank
Officer Signing
Bank
The Firot Ste Zi Lnk
;
Officer Signing
Vice-prea
Bank
Officer Signing
CiLLUDv..
,
.
that it will be in V1s-L1-1"
7
Cit.:.
quarters at Kansas
A
0
4 ,
.7„,Trdze •
e
Ba •
Alxv
•
.
A
Officer Signi
Liudau.
a
& MERCHANTS STATE 81,1.7(
Bank
Officer Signing
.., .1.• •
•
quarters at Kansas City.
Bank
Officer Signing
LICL. U
1
W ./.
Id
e,,,d
y6Z4
720.
.I.. J. 67-1 4.* I, 1. U U
,
11 l.or •
.1.‘19
quarters at Kansas City.
Bank
Aalm-e0, Arg
-VaNkci
Officer Signin
quarters at Kansas City.
Bank
Officer Signi*
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
The Firot Ej,/ute
Bank
0 C7?- 1
4
7
Officer Signing
Vice-Pres
Bank
Officer Signing
that it will be in U
quarters at Kansas Cit
Ba
Officer Signi
UGL o
ez MERCHANTS STATE Va.
Bank
/
Officer Signing
w.1.1.11 neaa—
v. .0 •
• ,
quarters at Kansas City.
Bank
Officer Signing
L.LC1,
-L 1.•
VII .1. .1. J.
IJ P,L.A
JS J. J to A
eet,d,z
q7(7770.
J.
.01 kJ •
.1
WV A. VIA
quarters at Kansas City.
Bank
Aa}m.efA,/24400
/
,
Officer Signing
c
,erceitei
,,A0,4
quarters at Kansas City.
Bank
Officer Signi*
X'1.42
4
LA
a
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
1914.
the Federal Reserve Board,
W shington. D. C.
TF
Gentlemen:—
This bank, having been placed in
District
No. 11 of the Regional Reserve Banking
System,
declares its natural course of trade and
cial communication violated, and urgentlyfinan—
re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with
head—
quarters at Kansas City
ga,4
Bank
Officer Signing
,
Labt,,,
that it will be in
quarters at Kansas
VP
Ba
a
Officer Signing_
Liut.cui
sa•
ia
.•
.1
7
-77'
KERGIIAAITS STATE SISK,
Bank
Officer Signing
quarters at Kansas City.
Bank
Officer Signing
LeLICI.0
1Lo
W.1..1.1
Wk...
1./1
L.1....),A41,,1
11,.041
quarters at Kansas
Bank
Officer Signing
quarters at Kansas City.
Bank
Officer Signi*
••••
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1914.
erve Board,
To . he Federal Res
C.
Washington, D.
Gentlemen:—
placed in District
This bank, having been
Reserve Banking System,
No. 11 of the Regional rse of trade and finan—
cou
declares its natural
violated, and urgently re—
cial communication
cts be so re—adjusted
quests that the distri
trict No. 10, with head—
that it will be in Dis
quarters at Kansas eft
'
Ba
01
411
Officer Signing_
w_.,.
liUMFLU10
TrT:ROHANTS STATE BM(
Bank
Officer Signing
quarters at Kansas City.
-
.y,
Bank /
77
(Ze
Officer Signing K--- :74C
%J • J
to ICJ. 1.6 .1. CI .L IJ
6J .L
quarters at Kansas City.
1LA
J. J.
,
vA
VY
vAA
Bank k_/.41z-eGII, Xe46q(34(
Officer Signing
quarters at Kansas City.
Bank
Officer Signing'
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
/0
April i
914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been - -placed 1-in rrDistrict
4 In
Okla., April
Reserve Board,
To the Federal
Wash*ngton, D. C.
trict
Gentlemen:—
been placed in Dis
This bank, having
System,
king
Regional Reserve Ban
No. 11 of the
of trade and finan—
ural course
declares its nat
ed, and urgently re—
communication violat
cial
adjusted
districts be so re—
h head—
quests that the
District No. 10, wit
that it will be in
City.
quarters at Kansas
Bank
Officer Signing
quarters at Kansas City.
ww.1.1,11 neaa-
_
Bank
/
77
(
Officer Signing (1 - Zg70-AA-4
Lle...)4,41Lto
11We
WV J. Ua&
4.
e(.40-4.
11,
quarters at Kansas City.
Bank
Aah,t,e0_,
Officer Signing
quarters at Kansas City.
Bank
Officer Signi*
224-4.1qa*`/
-a-4"'
•71?"
af-Ar,A,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
,Okla, April
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
District
This bank, having been placed in
Reserve Banking System,
No. 11 of the Regional
finan—
declares its natural course of trade and
, and urgently re—
cial communication violated
d
quests that the districts be so re-adjuste
District No. 10, with head—
that it will be in
Kansas ntralE)
Okla., April/4 1914.
Ii
To the Federal Reserve Board,
Wa hington, D. C.
Geit1emen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
ULIC:414
lkd
77
y(j6/7 aAr2,4--
.13.11...)y41,....V
quarters at Kansas City.
Bank
Officer Signin
quarters at Kansas City.
Bank
Officer Signing'
-24
JAW*
A.W,
WV1V1A.
e
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
,Okla, April /0
914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
finandeclares its natural course of trade and
urgently recial communication violated, and
quests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas
Bank
Officer Signing
Officer Signing
quarters al inatnomo
Bank
-5,D2-1,d'X'
The Fist
°.
,
A.<"
.,.,
"-z--11-d
,Okla, April
1914.
To tie Federal Reserve Board,
Wash ngton, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re -adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank (.
,a4er,€.0.
Officer Signing
quarters at Kansas City.
Bank
Officer Signi&
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
,Okla, April J'71914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan
urgently recial communication violated, and
quests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas
Bank
Officer Signing
Officer Signing
quarters
121.4naLoca,,a va.vjo
Bank
41--g---17-1
The Firzt State Bro k
z
Officer Signing
Vice-Praz
Bank
Officer_a4--,_
- -
-
,Okla, Apri1-(s-1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
District
This bank, having been placed in
Banking System,
No. 11 of the Regional Reserve
finandeclares its natural course of trade and
urgently recial communication violated, and
-adjusted
quests that the districts be so re
headthat it will be in District No. 10, with
quarters at Kansas City.
Bank
Officer Signi*
A
Okla., AprilIOth191
4.
To the Federal Reserv
e Board,
Washington, D. C.
Gentlemen:—
This bank, having be
en placed in District
No. 11 of the Regi
onal Reserve Banking
System,
declares its natura
l course of trade an
d finan—
cial communicatio
n violated, and urgent
ly re—
quests that the
districts be so re—adj
usted
that it will be
in District No. 10, with
head—
quarters at Kansas
City.
Bank
- uaranty
te Park,
Officer Signing
r tI
Bank
Ilytt;
vT.
Officer Signing
Bank
Officer Signing
quarters at
Kansas C't
/,/
,c--
every..
-/
adi,orrilol
Bank
Officer Signin
g
quests thaz tne
that it will be
in District No. 10,
with head—
quarters at Kansas
City.
Bank
'ST STATE BANK,"of Ttiskahom
a, Okla
Officer Signing
that it will be in District 110.
quarters at Kansas City.
II•
.
Bank Farmers dc 14erchants_atalta_at
EL_22 7
- /7
Officer Signing
that it will be in District No. 10, with head—
quarters at Kansas City.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank
Officer Signing
—u
ulTy.
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
1914.
To the Federal Reserv
e Board,
Washington, D. C.
Gentlemen:—
This bank, having bee
n placed in District
No. 11 of the
Regional Reserve Banking System
,
declares its natura
l course of trade and finan—
cial communica
tion violated, and urgently re—
quests that the dis
tricts be so re—adjusted
that it will be
in District No. 10, with head—
quarters at Kansas
City.
Bank
-• •-•
f • , • •• •
Officer Signing
Bank
1
'
4f
„
Officer Signing .
quarters at
Kansas C
42L-C
--LIZ_
Bank
Officer Signing
quests that tne
that it will be in
District No. 10, with hea
d—
quarters at Kansas
City.
Bank
•:?,ST STATE BAfilt,"of Tnakahoma
, Okla
Officer Signing
1 2_
that it will be in District
quarters at Kansas City.
Bank Farmers & Merchants _ataLt,Q.211..
/
Officer Signing
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
Ult.
Bank
Officer Signing
k
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
\
Okla., April ,/ 1914.
4
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in
District
No. 11 of the Regional Reserve Banking
System,
declares its natural course of trade and
finan—
cial communication violated, and urge
ntly re—
quests that the districts be so re—adjus
ted
that it will be in District No. 10, with
head—
quarters at Kansas City.
Bank
11k,
Officer Signing
quarters at Kansas
C't
4%Lt:
Bank
Officer Signing
quests na- iri4.7
_
that it will be in
District No. 10, with head—
quarters at Kansas City
.
160
‘TE BAlgir, instahoma, Okla.
-61
Bank
Officer Signing
that it will be in District
quarters at Kansas City.
.5,..taktgLaIL.
Bank Farmers & Merchants.
Officer Signing
...
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
—u
Lazy.
Bank
Officer Signing
Ag-di-‘eL
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
dir
Okla., April
n14.
o the Federal
Reserve Board,
ashington, D. C.
Gentlemen:This bank, having
I
been placed in
No. 11 of the
District
Regional Reserv
e Banking Sy
declares its natu
stem,
cial communicat ral course of trade and
finanion violated,
and
quests that the
districts be so urgently rethat it will be
re-adjusted
in District No
. 10, with he
quarters at Kans
adas C'ty.
49
et_c-61
j
Officer Signing
quests tnat zne u... 141
_
that it will be in Dist
rict No. 10, with head
quarters at Kansas Ci
ty.
Bank
*STSTATEBANK,"OfTnalrnhoma,
Olda
Officer Signing
that it will be in District
,
quarters at Kansas City.
Bank Farmers & Merchants _a:a:L.4120i,
Officer Signing ZrZ(6.-E-t
that it will be in District No. 10, with headquarters at Kansas City.
Bank
Officer Signing
LJ
uity
%ill 4J
Bank Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
l'exolLt
Okla., Apri
lIOth114.
To the Federal
Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, havi
ng been placed in
District
Reserve Banking
System.
Okla., April io 19
14.
To the Federal Reserv
e Board,
shington. D. C.
G ntlemen:—
This bank, having
been placed in
No. 11 of the Re
District
gional Reserve
Banking System,
declares its natura
l course of trad
cial communicatio
e and finan—
n violated, and
urgently re—
quests that the di
stricts be so re
that it will be
—adjusted
in District No.
10, with head—
quarters at Kansas
City.
Bank
--)RTSTATEBANK,"efTttska
hottia, Okl
a
Officer Signing
A
that it will be in District
quarters at Kansas City.
Bank F mers
.Ar
Merchants_atAta_BI..
I /
0Cficcr Signing
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing=
ulty.
Bank
,
Officer Signing
, uEL7),21.44.A.‘
Idditol
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Texola
Okla., Apr
ilIOthn.
To the Federal
Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having
been placed in
No. 11 of the
District
Regional Reserve
declares its nat
ural course of Banking System,
cial commun
trade and finanicatio
quests that the n violated, and urgently redistricts be so re
that it will
-adjusted
be in District
No. 10, with hea
quarters at Kan
dsas City.
Bank
uaranty-tatr,
Tupelo,
-
Okla., April
1914.
To he Federal Reserve Board,
Was ington, D. C.
Gentlemen:This bank, having been placed in District
No. 11 of the Regional Reserve Bunking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be ,flo re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank Farmers de Ifierchants.ateAr,
.
t
Officer Signing 4_ _
that it will be in District No. 10, with headquarters at Kansas City.
Officer Signin
.440e. Lazy.
Bank
u
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
Texola
Okla.,
To the Federal
Reserve Board,
Washington, D. C.
AprilIOthn.
Gentlemen:—
This bank, hav
ing been placed
No. 11 of the
in District
Regional Reserve
declares its nat
Banking System,
ural course of
cial commun
trade and
ication violat
ed, and urgent finan—
quests that the
ly re—
districts be so
that it will
re—adjusted
be in Distri
ct No. 10, with
quarters at
head—
Kansas City.
Bank
::uaranty
e -Dank,
Officer Signing
Bank "EV SIM RIARAM
TIM;ft
,(1 --Okla., April'i!) ' 1914.
Was\.
To
he Federal Reserve Board,
ington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
Lazy.
Bank
Officer Signing
,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Texola
Okla., Ap
rilIOthn.
To the Federa
l Reserve Boar
d,
Washington, D.
C.
Gentlemen:—
This bank, ha
ving been
No. 11 of th
placed in Di
e Regional
strict
Reserve Bank
declares its
ing System,
natural cour
cial commun
se of trade
ic
quests that ation violated, and ur and finan—
gently re—
that it wi the districts be so re
—adjusted
ll be in Di
strict No. 10
quarters at
, with head—
Kansas City
.
Bank
Cuaranty:t
e Bank,
Officer Signin
g
Bank --.1- Prt. STf,TE ZU
":
,1101`
.
Officer Signin
g
11Z:11; UU
Bank
Officer Signin
g
auartATIBLIA
mum4L_GIA2111z
___
\
V
••
Okla., April
To the Federa
l Reserve Board,
Washington,
D. C.
1914.
Gentlemen:—
This bank, ha
ving been placed
No. 11 of th
in District
e Regional Rese
rve Banking Syst
declares its na
em,
cial communic tural course of trade and fina
n—
ation violated,
and urgently re
quests that
—
the districts
be so re—adjuste
that it will
d
be in District
No. 10, with head
quarters at Ka
—
nsas City.
Bank
Officer Signin
g
'77-1-e°T.
4 Okla., April
1614.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
Officer Signing
4, 6,46.
(
r,e1
yatu
Officer Signing
cial communication violated,
and urgently requests that the districts be
so re-adjusted
that it will be in District
No. 10, with headquarters at Kansas City.
'
Bank -'13ST NATIONAL BANK,WALTERS, OKLA,
Officer Signing
cial comuDA-___
districIb
witn
quests that the
District No. 10,
it will be in
that
City.
quarters at Kansas
)`&
Bank
Officer signing
-
t-Luk
••••••amt.e.e.1 MO=
Officer Signing
cial
re-aujubu,,
quests that the districts be so
10, with headthat it will be in District No.
quarters at Kansas City.
•....4•••44 some
,
Bank
Officer Signing
, ‘41.'444•
2
.
,
Officer
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ilunsas UitYT
B nk,
47101°F
)P"'
Signing
(b.1
i9tt
A1
,Okla, April
1914.
To the Federal Reserve Board,
Washington, D. C.
Ge1
tlemen:This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas ;ty.
.
Bank
6
4
2
Officer Signing
PLY-e
cial communication violated, and
urgently requests that the districts be so
re-adjusted
that it will be in District No.
10, with headquarters at Kansas City.
Bank
I
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
W.S-1- NATIONAL BANKS WALTERS, OKLAi
Officer Signing
,
ciai coww -___
districIb
witn
that the
quests
District No. 10,
will be in
that it
City.
quarters at Kansas
dr. ,
Bank
(cLia
(k\-
Officer Signing
Officer Signing
O
tLcial
districts be so re-aujubu,,
quests that the
headthat it will be in District No. 10, with
quarters at Kansas City.
Bank
Officer Signing
z.unsas ertflir
UL.AiZ
dati
B
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-
01c
es.
Apr-il
,Okla, April
1914..
1914.
To t e Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in
District
No. 11 of the Regional Reserve
Banking System,
declares its natural course of trade
and financial communication violated, and
urgently requests that the districts be so re
-adjusted
that it will be in District No. 10,
with headquarters at Kansas City.
Bank
fIPS-1- NATIONAL BAN K1 VVALTERS, OKLAi
'
Officer Signing
,
ciai cuww -__
districlb
wimn
that the
quests
District No. 10,
be in
that it will
City.
quarters at Kansas
L,_
M'
Bank
Officer Signi
a,
Officer Signing
L
--(A-4
/._..../........._
cal ,..-____
districts be so re-aujuu,,
quests that the
with headthat it will be in District No. 10,
quarters at Kansas City.
Bank
Officer Signing
uu Lansas
Officer Signing
J \
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
4)/1„. Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
Okla., April
1914.
Board,
Federal Reserve
To tae
Washington. D. C.
in District
Gentlemen:—
been placed
having
Banking System,
This bank,
Regional Reserve trade and finan—
No. 11 of the natural course of
urgently re—
declares its
violated, and re—adjusted
communication
cial
districts be so
with head—
that the
quests
District No. 10,
be in
that it willKansas City.
quarters at
Bank
kka
117
Officer Signing
"
at.
Officer Signing
cial
so re—aujuv,,
quests that the districts be
No. 10, with head—
that it will be in District
quarters at Kansas City.
Bank
Officer Signing
'Itykor
vt..1C;
CA.14 ilunsas
Officer Signing
•
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
-
441.e
-
Okla., April
1914.
Board,
To the Federal Reserve
C.
Washington, D.
•
..ftlesnAd
in District
•••••••
,
IJUYSA.17 -
Okla., April 7_1914.
To the Federal Reserve Board,
Was ington, D. C.
Gent emen:This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts b so r.
-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank (1
LLJ
Officer Signing
cial
so re-aujubu,,
quests that the districts be
No. 10, with headthat it will be in District
quarters at Kansas City.
aL.
Bank
Officer Signing
Ja.unsas
nk
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
Okla., April
7
1914.
rd,
To the Federal Reserve Boa
Washington, D. C.
Gentlemen:—
in District
This bank, having been placed
king System,
No. 11 of the Regional Reserve Ban
trade and finan—
declares its natural course of
urgently re—
cial communication violated, and
usted
+.11124.1 the districts be so re—adj
-
t
' L4
Okla., April
1914.
Board,
To the Federal Reserve
Washington, D. C.
Gentlemen:—
ced in District
This bank, having been pla
erve Banking System,
No. 11 of the Regional Res
an—
rse of trade and fin
declares its natural cou
urgently re—
and
cial communication violated,
cts be so re—adjusted
quests that the distri
d—
ct No. 10, with hea
that it will be in Distri
quarters at Kansas City.
Bank
Officer Signing
1rtyle
uC.4
at, n.unsas .
B nk
Officer Signing
, f4trer,
7,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
c Okla., April
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
13ani,(U A
The
Bank
Officer Signing
Officer Signing
Lq.
41on violated, and urgently re-4^1-A4 he so x&_
-_-adjusted
,Okla, AprilL1914.
To 'he Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in Di trict No. 10, with headquarters at Kansas p tpc
nk
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8 i914
.PR
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.„
kAkzA,
11,7t
Bank
r.712
Officer Signing
Bank
Officer Signing
Bank
Officer Signing
quarters at Kansas City.,
Bank
Officer Signin
that it will be in District No. 10, with neau
—
quarters at Kansas City.
Bank
FIRST STATE BANK,
WISTER, OKLA-
Officer Signing
that it will be in Districu
quarters at Kansas City.
Bank
_First otate bank
7r--
Orficer Signing
uourbe OI traae and fina
n—
cial communication viol
ated, and urgently re—
quests that the districts be
so re—adjusted
that it will be in Dist
rict No. 10, with head—
quarters at Kansas City
.
LICI,VlALM1
Bank
Officer Signing /27
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
r7
/ •
, April
1914.
To the Federal Rese ye Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and financial communication violated, and urgently requests that the districts be so re-adjusted
that it will be in District No. 10, with headquarters at Kansas City.
Bank
Officer Signing
Bank
-C
Officer Signing
quarters at Kansas City.
„Bank
ememwmedb
BANKJMMEICE,
V1.51.1.1 KA, OKLA,
Officer Signing
_that it will be in District No. 10, with heaa
quarters at Kansas City.
FIRST STATE BANK,
WISTER, OKLASigning
/
Bank
Officer
that it will be in Districu
quarters at Kansas City.
Bank
JAO.
IV,
WIUIA
First otate JJank
Officer Signing
lavuttai. UOUFbC OI
racte and financial communication viol
ated, and urgently requests that the districts be
so re-adjusted
that it will be in Dist
rict No. 10, with headquarters at Kansas City.
Bank
Officer Signing /2/
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
&O1Ig45-c,),Ok1a, April
7
1'1914.
Board,
To
\e Federal Reserve
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re-adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing
16,
quarters at Kansas City.c
jr. MINK
Ur UUrdiVibiUtf
W TUNIKA, OKLA.
Bank
Officer Signin
that it will be in District No. 10, with neaa—
quarters at Kansas City.
FIRST STATE BANK,
Bank
WISTER, OKLA.
Officer Signing
that it will be in District,
quarters at Kansas City.
Bank
14J.
1V,
wit.14
Al,
•
Arst otate Jiank
Officer Signing _
a.vp.totAtc
61. UVIAFIJU OI
raae and finan—
cial communication violat
ed, and urgently re—
quests that the districts be
so re—adjusted
that it will be in Distri
ct No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing /2/
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Okla., April
1914.
Okla., April
1914.
To th Federal Reserve Board,
Washington, D. C.
Gentlemen:
This bank, having been placed in
District
No. 11 of the Regional Reserve Banking
System,
declares its natural course of trade
and financial communication violated, and
urgently requests that the districts be so re
-adjusted
that it will be in District No. 10,
with headquarters at Kansas City. bioNur uu rdivaltikjr
,L
" " (A, OKI..fr-r
.,
Bank
Officer Signing'
_
that it will be in District No. 10, with ileaaquarters at Kansas City.
FIRST STATE BANK,
Bank
AMSTER, OKLA-
Officer Signing
that it will be in District,
quarters at Kansas City.
Bank
14J.
1V,
wit,L4
,•
,a
_First otate bank
=r--
OL7ficar Signing
Llauusal. QUUrbU OI
racte and financial communication violated, and urgen
tly requests that the districts be so re-adju
sted
that it will be in District No. 10, with
headquarters at Kansas City.
Bank
Officer Signing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
rbe-
APR 8 1914
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. O.
Gentlemen:—
This bank, having been placed in District
11 of the Regional Reserve Banking System,
---Erade and finan-
4411111MOMMOMils..„
\/\
Okla., April "1914.
?
To t e Federal Reserve Board,
Washi gton, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
FIRST STATE BANK,
WirSTER, OKLA.
Officer Signing
J
that it will be in Distrieu 14, .
quarters at Kansas City.
Bank
v, •wit,14
iirst otate bank
Officer Signing
uoutftiU OI
rade and finan—
cial communication violated, and
urgently re—
quests that the districts be so
re—adjusted
that it will be in District No. 10,
with head—
quarters at Kansas City.
1.1c24 U tiL i CT. 1.
Bank
Officer Signing /2/
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
.;
1.Z
%PR
8 1914
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
:
AAA.L 1.'! S_ TATE
ENNI
Bank
_
jirynuggig24____ Okla., April 21 1914.
0 the Federal Reserve Board,
ashington, D. C.
k
Gentlemen:This bank, having been placed in District
System,
No. 11 of the Regional Reserve Banking
and finandeclares its natural course of trade
urgently recial communication violated, and
quests that the districts be so re-adjusted
headthat it will be in District No. 10, with
quarters at Kansas City.
Bank
First 0 ate bank
.Wwmonmommpm...nlmwdmoommwrailmrvow.m.mmmw..mswe....wme
Officer Signing
..m4v4A.Laa. t..;VUctie OI
raae and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
Bank
Officer Signing /27
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
xe-
_
10)R _8 19g
Okla., April
1914.
To the Federal Reserve Board,
Washington, D. O.
Gentlemen:—
This bank, having been placed in District
No. 11 of the Regional Reserve Banking System,
declares its natural course of trade and finan—
cial communication violated, and urgently re—
quests that the districts be so re—adjusted
that it will be in District No. 10, with head—
quarters at Kansas City.
A tik,
Bank
Officer Signing
Bank
Officer Signing
Okla., April
1914.
To the Fed ral Reserve Board,
Washington, D. C.
Gentlemen:—
This bank, having been placed in
District
No. 11 of the Regional Reserve Banking
System,
declares its natural course of trade
and finan—
cial communication violated, and
urgently re—
quests that the districts be so
re—adjusted
that it will be in District No. 10, with
head—
quarters at Kansas City.
Bank
Officer Signing /
2/ A/
BEFORB
THE vEDualu
Xv-_,SERVF. BOL.2D.
In the Iatter of the 2etition of Homber Banks
of Atzel and tyler counties, 7est Virginia,
for Transfer from Fifth Federal Reserve District
to Fourth Federal Reserve District,
REPLY BR:EIF OF BEHALF OF trial Fr...ZERAL
RESERTF, Rox. OF RICH:TOP:Da
It has been impossible to inventiL;ate the facts stated
in the brief for petitioning banks, but it is presumed that they
are substantially accurate in most respects.
The following state-
ment on page 6 is inaccurate:
"There are two routes by mail from your petitioner's
comities to Richmond, Virginia, One via B. a: 0. R. R. to
washington, a distance of 392 miles, and from Washington
to Richmond, 170 miles, making 562 miles from petitioner's
banks to the City of Richmond," etc.
The distance from Washington to Richmond is 116 miles,
instead of 170 miles, thereby to that extent lessening the distance of the petitioning banks from Richmond.
The relations of the petitioning banks with their correspondents will in no wise be altered by the operation of the
Federal Reserve
ct or by their being placed in the Fifth or the
Fourth Federal Reserve
istrict.
They will have the same freedom
of discount, collection, and other business dealings with their
regular correspondents which they have heretofore enjoyed.
It
is true they will be required to keep the reservrls required of
them under the :,ct in the Federal Reserve Bank of Richmond, instead
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2
of the Federal Reserve Bank of Cleveland.
l'here can be no serious
inconvenience in this.
)eritioning ban*s that
It is stntea in the brief for the 1.
mail from )1.stersville at the close of business in the afternoon
should, with proper connections, reach Richmond at six or seven
o'clock the following eveninc, and would reach Cleveland before
business hours that day.
This it is believed is the only inconvenience
hioi can
result to the petitioning banks from being elaced in the Fifth
Federal -leserve District.
It is maintained that this inconvenience
is not sufficient to justify the Board in changins the boundaries
of the -;eserve District before the operation of the system named
has been tried and tested.
If the prayer of the member banks of , etzel and Tyler
Counties is granted, doubtless other similar petitions tn this
Reserve District and in other Reserve Districts will be presented
to the Federal Reserve Board.
It is impossible to please and to
satisfy all the banks throughout the United states in the division
of the country into Reserve Districts.
There has not been sufficient time to determine what
will be the result of the operation of the banks under the Federal
aeserve Act in the districts as they are now made.
It is maintained
that sufficient time should be given to the practical operation
under the Act in the districts as now formed to detergine whether
It is as effective, efficient and satisfactory as it would be if
Its boundaries were changed.
If, after sufficient time has been
allowed to thorolighly determine this, it should be determined that
the petitioning banks of 77etzel and Tyler counties can be better
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
S
and more efficiently served as members of the Fourth Federal Reserve District, rattler than of the Pifth Federal Reserve District,
it will then be time enough. to grant their prayer and have the
transfer made as prayed for by them.
It is respectfully maintained that the prayer of the
petitioning banks should not, at least at this time, be granted.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Respectfully submitted,
s
:
,
counsel for Federal . eserve Bank
of Richmond.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
STATEMENT SHOWING CO1PARISON1
TRAIN SCHEDULES
from
COUNTY SEATS IN DALLAS DISTRICT COUNTIES
of OKLAHOMA to
TANIAS CITY and DALLAS.
Schedules in effect May 22, 1914.
Compiled by Fay Thompson, Div. Pass. Agt.,
Rock Island Lines, Oklahoma City, Okla.
•
•
LEAVE
Strong City
IT
Sayre
tt
Mangum
II
Hollis
11
Altus
It
Hobart
ft
Cordell
ft
Clinton
It
Anadarko
Lawton
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
It
Frederick
ft
Walter
ft
Waurika
II
Duncan
ft
Chickasha
ft
Purcell
ft
Pauls Valley
ft
Sulphur
It
Ardmore
II
Marietta
IT
AWAA4-47Tishomingo
Ada
ft
Holdenville
ft
Coalgate
ft
Atoka
It
Z-e-rafrt
1:40 PM
1:40 PM
3:10 PM
3:10 PM
2:10 PM
4:10 PM
3:22 PM
3:22 PM
5:22 PM
5:22 PM
3:15 PM
3:15 PM
10:53 AM
6:20 PM
5:07 PM
5:07 PM
5:30 PM
5:30 PM
3:45 PM
7:05 PM
7:42 AN
9:28 PM
2:58 PM
7:50 PM
5:15 PM
2:50AM
5:56 PM
1:50 AM
7:10 PM
1:50 AM
6:00 PM
1:50 AM
4:44 PM
2:35 AM
2:20 PM
2:20 PM
3:16 PM
4:27 PM
2:42 PM
5:00 PM
P-M
-24-Erer-4e-PM
24
9:02 AM
7:04 PM
4:13 PM
5:33 PM
5:30 PM
4:00 PM
12:50 PM
12:30 AM
8:18 PM
1:10 AM
7 -Pm
-fee
ARRIVE
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Kandaa City
Dallas
Kansas City
Dallas
KFi:nsas. City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Cansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Zaxi-se7s---ffty
.Dalaa-s
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
Liartaaty
ZA-1--1-tes
17•71„ct.7,
7:25 AM 8:30 AM
7:25 AM 8:30 AM
7:25 AM 8:30 AM
8:30 AM 8:30 AM
9:45 AM 8:30 AM
7:25 AM 8:30 AM
7:25 AM 8:30 AM
7:25 AM
8:30 AM
7:25 AM 8:30 AM
7:25 AM
8:30 AM
7:25 AM.
8:30 AM
7:25 AM
8:30 AM
7:25 AM
8:30 AM
7:25 AM
8:30 AM
7:25 AN
8:30 AM
7:50 AM
10:00 AM
7:50 AM
10:00 AM
7:50 AM
11:05 PM
7:50 AM
11:05 PM .
7:50 AM
11:05 PM
1;t10 AM
7:30 AM
11:05 AM
7:59 AM
8:10 AM
7:50 AM
8:10 AM
.7:30 AM
8:10 AM
7:30 AM
8:10 AM
"430 AM
841e-AM
•
•
LEAVE
ARRIVE
2
iftlzo -
Kan-aas City
Antlers
ft
W ilburtorA
Poteau
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ft
-ft
2:20
3:29
7:42
7:42
5:07
12:15
1a52
PM
All
PM
PM
PM
AM
MA
Kansas City
Dallas
Kansas City
Dallas
Kansas City
Dallas
irra-frtra-b---C-tty
10:30
8:35
10:30
8:35
7:30
8:10
10:30
8:35
10:3r;
AM
A1
A'
AM
AM
AM
AM
AM
AM
•
V.Ktrt
ltrong City
11,111. -71117t
0
tti3
0
•
trcbtitrt
0
CorJt511
n
Clinton
0
,
Aw. darc
,
0
L.).ton
0
Frn.Cerick
0
Taltnr
0
7mIrika
0
'rurvyan
0
7
-7h1, ;kb?
0
Purcell
•
Pnu13 Valley
,
"Itilphur
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ArAmore
4
VI111
4
Tibomingo
Ada
0
7()].:frmvilie
0
Colt
0
Atoka
Duv.int
4
ARRIVE
Klrs
PM
1:40
17.411.c;
1:4Q PM
Ktilapts City
3:10 ?M
rallas
3:10. PM
K-113as City
2:10 PM
rallqa
4:10
7'qlc,y:a City
.Z:22
Dallas
3:22 PM
3
K!'171ap.., city
5:22 PM
Dan Ist.o
5:22 PN
Kr,-ndas r3ity
3:15 Plq.
3,a
Da1.1,
. 3:15 ?V, 7;0-3
City
1r:53 AU
DF!.11!,7i.a
r7):20 PN
city
n
5:07 PTAI
DallRa
5:07 PV
City
5:10 PM
pallu3
5:3C PM
Vrc,i, City
ts
'3:45 PM
PM.
Dalias
2:G5
lty
,
7:42 AM'
9:2 PU
1(no-,,71 City
2:5F3 PM
Dali
7:50 PM
K:Inza, C,1ty
1
3:1 PM
2:50AM
ra11P,3
5:5n1 M )
T*11.4%3 r:ity
-1:50'AM.
T2J0.1!As
7:10 PM
K nl t3 rity
,
rn.i.1Ths
1:5C AU City
6:0r.7 PM
,
1:50 AM
4:44 PM
ity
2:35 AM
i71 1;13
'2:20 PW-3/a
Cl
:20 Pi
;
3:V3 MI
City
Pt!
T25.11n.0
13 PM
rsAlaa
5:0(' PM
Vnxis City
2:(7)C
Z11.11as
7:10 P1.4
,
Unsas C ity
9:02 AM
7:04 PM
4:13 Pg- 1 5g
TC,4111.8 ritty
5:33 Pm
Dallas
City
--444 PM'°i"
4:M PM
Dallaa
12:3C PM
K1n3la ity
12:30 AM
Dallao
r3:1P PM
Y.,141a, City
113
1:110 AM.
7:2n PM
City
2:17 JO
rAllas
WA.
AM
P.:30 AM
E
e'..:30 AM
AM
8:3(i AM
:3n. AV
CA3l. AM
Am
:3r AM
7:2:, Au
,r:30 AM
Al
Av
7430
:5
7
P,:30
7:U.)
e:3r
7:25
/:3(
7:25
F:3C
7:;:5
AY.
AU
AY
AM
Am
AM
AM
AM
AN
AU
';':'71.7 Au
,
P:3C AM
/7:7Z AM
7:5C AN
AM
AU
1():'-' AM
11:C:; PM
Am
12:05 PM
;,- 1
0
11 :C Pi
Ag
.7,1.'10 AM
'7:,,r! AM
11:c, Am
AM 7 7-:11(J AM
A- 4"v
":1( AM
#173o QM
,
-.:1f7; AM
Am
AM
:
7 30 AM
6:1(; A%
•
•
0
A RRIV7
1,17Avr
T-Tucc
1:42 pm
- 41
414: 0t
:
1,!r3
71.)1 UptCn
0
PCt193.1
rm
7:41 pm
5:7 pU
7:42
10:52 Am
C:5C, pm
it-alaar3 City
D.1 T'9
0
Kniv.;as City
—
1- ity
K-nsnat City
rodlas
K'nza City
,
Z:7_114,ta
Au
;t7i35 AM 7
AV
,,,t3rj'Av - 7
It 30 AM
10 AM,
1C:31- Au
1:135 AM '
'2:3r, AU
Au
•
,
1
0+
;
•
•
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•,••=
.
S
.
•
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ItIONEM TIM 11,1701,14t
. *WM
0114 OW.*
rn 4 wittor
44
t,,hoij
j,04,
trct,nortur
NrttOn
floatharti c)klAhoststt trot: rode:roar riosiotrve irdittriet et' •
Mt**
sattver,. to vi*do.r tta Teøarv
ril*triet Itualuir Tcr14
MIX 07 Va`:.fIT'OMIT
OtitiVICT 07 frrgit7011. • P. cow.
4* woo*
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Tn
Utter
lase PatlAion
plortAn vf
to tennsfor
Neutbern Wash:ma tom, TWera Rosorvo Plotriot
tor 111,1411 to NW orAl
$irw l'Omtret
mom: IN,
'Yi.:1C:Zrra 110 itT(TY
1
leili
)AI tr: P.VKA
1*
4.1.01.
TU 7,0AgD:
Vbr\m„;;4y
14 4 ttivvytt to tha oral ar4:u-
,
imohnt med* 1!:)u for4 your nc ArA in thkt
,
n'At,
!tr, $onator T.
?* Niro 1711t!d 4 wrlttqn argwitn1 with *crAA T-1
,
,
.4r4, in Awvort
Of t4hIs c4ntst,t.
aripment Woring
plOp.
110h0 in thi! Vatilh nuatio o'f! rthe aklaNgrutlkm0W 0 er.4t4
n.
HarrIeln, vilko VAS 11 rhArg*
th4 o4ntlqf't
behalf
of tha g014,thorft OkLahvmu bAnkere bvfre ;Tour
Swards ItIVr the
butdines "Xi4napi.7410 ftiti” tioree.
notol, in .".azo:.idne, VIA* lhe oestaillmonte
won p4reo,t4ttl:i soIletti t.
t4
b4Onning, as t-r-
igk1044*-
"4404* anl tho lesa4, lnitolvied in thit 1proof:oiling tn
th# Attilte
,
print ur Gicialulna and upon th4 influttinne of
thOr sotaav)re
sin4 Congressmen rfttlor than rest tbo cow upon
its rwits ta.
fora your tribunal,.
Reovan0,14nt
4
hAve askod
441 rOX,
to lAir arKument wotrc it no% ter VA* fact Mat it mull vials(
sno Apraae brovieaat ovor Vh* note et Onshout
al me man* et
tho
troin nonthined ere Sink as o%,10ht
100
,
pe'Li tk.'0 pAois unanswered and 4.44 400k 40 *444 %fiend
0
to
11
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
oleo
,
cromtft dias4Wil'action in the miWs of 14ou.4 3vs:m
r*n:4:4n1nr in
Imaktro v4i4 h,,11ft Alwayo s.tifsd art now dootrous7 .
.
7,711I1tntb DigtIoloto
by
';11,
4
Ti
,
1
- Chft, : f/ foq1111, the
,
lIngtiagot
:,4.
nu* kind. of . ,i4v71; 4:11 e.4.11vr ,40. 14nd two
duties are impasse! on yoF4r 1164rd by Vh*
Wade of
Yederal Neserv4 Ar:1 , Certain :,NArliono , 01st
of
mandatary
la their AtIti-4rlon -14.1ha Board
law ere
ne Choice.—no eAseretionip It tvrAnTwo:', ectinclItter
oireuestancos• It sennet be Safilincvd, 00 1_,htir by
wiAbla• 0* th* wishfe
moaner or tommicAn
4
;', 4711ortri of
thRtcfi
disoratiener7. in r611.14:.ct
''w'ir
It
own take sowlsel 4,/f
4
notdckit tole by 'ow
At bo in'134SSS4 by locsal
4frifetwA
whasa ytttl
AX
lel*hes .of
by ite
mat
A% the ,1,1x..;!*11ccV,
by Menato'P Oorfl
41!
Itorrte dloetomml
49
,
r
e., tim the quesItion, *het nr, 1,ht
-90vere of the lloskrd w1133,romptiat to %le
Sootica2 at this Wderal Aesorvo Act rftdo,
teLlsais
eAs souls a* pvmstiesiblet vhs Seeretati of the
Troseurr, the Ossretery of Agriatlture otne
Otnoptreallor Qt the Curr‘,..ney, meting *t 'Tito Reserve J.rilc Organisation Commilt4et s t4411 d4olfH
nA,101 net less than eight n4r mpro tht.;4
Ottost 0, 'Ammon es Poderal riwvirst
4
44411 divide the tArtineatet 1t1 t4tv!a.
,
7
clueing Aleskas 1.11
dirtriet st *boll tollKtIrlilt to›
,
,
oontwiss war sibe ø etc. retle.rea.
oaild oreftnigatIn oommit*i.
Ste 4etiornisat11
Mt be pubjt.;t
roylow 411cet';,0, by the WSerpki ftstorl Soma vhonr JzafoH,
districts Shall bie sipporne, .
That
dce
'Ote convenience end eimtomary oouree
rotvazd
vf bwAinel.sz oind "ell mat Iseettxaartly the estralmiwe , 11,J1 Any (‘,4U 4f Itistes. The diptriets
0
4
thugs. 01.1Atite, xzki la* mitjUatiae! and *** di All.otfl
arecttl * the l'ederel
.1 part,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
0.1.„,080
Stootrre Ytoard4 not 10:1.x3in ftil. A4oh
)
7advorsia ri, 0,:, r1ro
,
diStriOtOt Ya1,4111 bit3
WV be dosIgnattd by nutitter• A rialottieto tad
Iv of t:41! orgenixatln comvitt* 04411
tlAtt' 4 vorum with authrity t4 604411,
Gattortai tt9e taih
rgard takti
n Oat
t bort/old
:
i
omploy osuasel and trport MUd,tu
5,,,3, Jtert s
,
;
toko toomisonvs zio $4a4 for pormens
to sidnias
tatmr mobs. god
Paga41141311tvtø
1144441 Sa Mir be 6.4491141 11.4.010€07 k'"1:4`4.ft ed tvm-a
ltue ln dottermtlang, tbc, ylreorv distvl.1*At ane
,
thc titit./0 ifirAtih
,
irft,r1 est'
,
us d
*hero fikattli Ve4orittl re,astIrt. 'hanks r4hall, 11. gwvtreal17 located.
It is thvrofeJr4 nowsotary f4:.1. pour 1.13rd to Apt4r...
:
thv rean INT *: Ma* port!,on 4r4 t-Ft!.1: 1Aw tchl
,
trine %tett
vidao Vtlat, *The doteminal;10A af
*hall
pre.
organIxation
t tf•.:1 T1'!int irx*-644 tior tate Tql
v
P-se*
4riwattd*.
l',10ard
liton
amt yoQr
Lq't
at ,thet Aflt
1U7?tret
vine
att.trottsi>n woke firrst 03. ,e J:;,athis
411
d thtn. etimot1414;(7, !las prodigy%
thv , .;orttion tatIn
;
this eouttit, Ancl at that ttm5:1 to4k
irition at
:;,,
ruloots sad regulati
an th6 ret pondo
,
,nt
t
ae.
r/1111: 1:11Avnt in
,,
e1q1,1 of thilv
saro ,
anei am,mg tit*
.t.hthrd niAtz
'M s 1:I.41 is round thoN foiloontr:
,
of?vetAtais tor rtittellt th
tns*n
of Tttlittr4 rio*Orips 41.4ottri,atst
Co=.1d0;00 1=4 beeigneeby duly aku.Q1i'ori sod ort"1cei7.1! of •-:$A 134st two-thlre* of thAli1b.r Wm:kit
- ,
,
In
tc rrItery 4hioh t,h.t potltivn AftkO to how
,
tOmn aut4W ()nil 41Orlot and ^nnfoxd to snuthl!re
orProco4dingts a* to notteop
arsd argumr14 Oval
Theurea NO far pilitilAL:31.45
f4r ohmeto in
i.1,004114.1i41Qft of "Peral reserve IntA0$10
1
:114t. 13, .4Arti.' or dirootoro
(
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
es4do,
of 144h-g 70ktrel reaervo bmink *ft4 rilJt: -.ht yombcr
;
1$411Xs In th rAoral resmryte, 01 1 y. uh_r.A.1 r.#1.mot
toipp.tAr and artor
rnfree#1144tillft
V40
;,14:40.uid mAy aott
titin. rloare A awl 14 Ottreora ,
V: ie rl%vt C iictix.e.11, in
,
, 0intmor,
Pangling 42 ,
$teloolAon -f:" mn7n. rtpr.t.gtontwe
*
*
*
*
.
*
*
,*.
,
oth loar A:ia 301., hoeT tIttny, 11-T ,,
1,4rt1e2A 'A.I1 'n limitil to th6 r#ord 1111-ftyr4
lav
tht argaulsettin C4Maittio
*
•
0
0
•
0
A
0
*A% 411 hoIrtgo, hsf):14 bprtunor YAI .qtototitian of law .cir 7:4440 ino70A?q ,, ,,iurwr%otion and
lift/Aveiro at tht Yotural. neorYt ,omrd4 may be
araga" v
tlw41- ible *wen that ywzr Aoard oonstrvt?4
!Oir1m4
porAvtiA.in Of '0,1f4
tho tAtimi,ny t*1ivA by
YoU!'"r1:41cce
tOr4
yvur
14ration
twy01,1,
wp441 ACK lioltoe
Bookrli
lat4-4r,
h4st&d
W
Otpoullottin
001.'416 130g tfakork firm
311 to.0-
1.1
0-114140,v.dth
Orgwasatif,04 -f.7012,‘
*La.%
la order %hat your No4-1'11htrulrit!* ito action*
If that provipAon
lo
hivo %IV offootN
jt 4t4u14. mownwaxl. • V.h.e.r4ofort, tr;itt. *onttrutA. ln. link, with
41
,
Ain440 by the eourto
In . 0 Oftee
1
,w.ivt410 ar0. tAvi Itos
oktr lomd,
WitiOtaisfkort **text' Cotliny
bookEr 4041 ramrAOY, 44 n. Y. Ototki,1, V4 '667*
,
1
hOld
Yht0:14c*DVnftf t,hqra
'1"ilc word itrrviewo, Apt 1“1d 1,n Cose
pt4Tilgrih 77U s
!;N% ',4h1rt 11 4v, ts or A rfon Mr4z
, ,
a.0 1. or :,- e*tv, 4ae,4not In q:!; *oxAon 3n.
, ,4p
0
requird t4 p*py Vati
rnioldurts,
a'Irrapl;
or tr
Or 1,4t
thot
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
546'
ordioe, aro stimAyud
ym,int C'mrtivf$
to roma to review on toil-741.; f41.
Itth*roty& r..tylow atV 1K, had.*
ronowal of 7.J.1, mw:Jon or
6
word
Thl
cl.olA not hlvir
rep.**t.tIcnw,
ftihttia
rpsync.V.0
rop4r
?hr*eals, V,:aun
t
131
• V.
Wri•
;141:01ii- 6414
r
z
,
":
, 1 ,tcrollion
0
wa..0 ono uadvr 0 “
atA:trl.
action or emitli,oct
nlm,
any judet 4r ol6rk of
v
s
1,;• 13 11;h k.;1 441,rd
sneritto r of &
ce V'
7$
*3E1
iirt try.rl
,
PAInd in stAlvuto :Jr11.1!At
‘ir
Tho
0
1.- 40lig of qttiriftwo,
ng the Ticw 'Vhf61 oott rt:a
Ern4
7,0
•111
will Alfo Nv roi..crw In 'T;',f',:1r1,10
.
71.0CU
fihe vrder.
t on
on
wle 621n, uneAtr
rwant
qustion prilow;40. bt7,1,0* as k
tctrval.1*r
,
for the ;Iv .tit
t4kvn
x y 111t11411
41
".
or WO:4P r YVVP arto r514ply .th,;
askoo to
1!1
ti9r
:t
1icLt,
r
r
omit
offior of
pubItc of!lottr
,
or board, with repixd u MIN r4ght
,
p*t
fl
insary
i
I z out,
IArv1zt-- by tho tvprop.
p r at* rev* Oity of alltimdmrsu,o or env,Ah rAr
quire.
Crf*P0.4. ?Ilk;
A. 1)04:trills 14n th§ GretsrV
'Mao
1,Qr4 'review*, found ln thv Irtit14r1 Rttliwrv* Act, * i..Notoo7lon
.
from
Wlsoottri
04Z0*
1# hort Amet
o'Ree• UZ. :arlodiction *IF And Roview by.
Cciurta......AAY *cation or AsigUe%
offtcf4r
tto@ convonti f..41 (,:14 commi tr* s
or mend)froti or
or i;tf Any
jrlutry clito r.lost i4r
6.1‘
rAblie officwr, or be,araft$
rrt
4A44
1:y-,T0au zo umiltos Ary l
1Iqsattn.julet
*Awpidi . plart 40oT;j0 Isin“04V4
-
wyr,mo X4*A4 litipq
ae% iulrg 0604,z jc,
,
qlvArtii'
,4%441,10J 40 ,i;ig.go
„„jitg
s
cre
Uti Waft
*J
$0
Art; Oti 4410a
folowevi 0451, 4414 'Warn aq
,
4Xvio ;,A14,uvot
d owvizdosift AT 109JOT*0140
anv,v?k4vt4 jvt
47, A0no oi
,
ain-UIMMea 044 V41
zett* maw 'mxt,p4444
svmsegood clAvoal , (mtx
;
pp
4; 'Ali:A.0
0
Viva&
nt
ip)
14 titry;Trjr
14m Awl at(, mon* os oxisuicsuyt
0% T4ow1144114 4/4.
çTom '0.1
,
*'
4adok4* el 14 notio Arse: ciblaa
,
ai0e7,4•4
fAsn ow+ sicsy.roviss
,AotivroJ
*rovmu
4w410 wq; JO SgtW tn. covvvid,t44r
w4
,;ati
,
•
Vrtta pap4
10
1WO 44414,,,T oqt von *sesTus000J, %3*
444 • I VX10.70V.100 %iv Arik44;;p14VW ,0 40,04.4 ovoTx4
,
4
4/0,EvAAJ 01.
s4A414jo UØ
'4 ,xo
awe upvi.voto to0004 01 4poolu mv
,
!40;atiO4.1* 441% Wou.1.
1
1101:%04,44
•
;4*ultituato ut.“; *totttut tals
A ,
6.7 40 0LAitna
1:114 ?AvA
0
AW3414a40.2 4I UD;.V4A1V)0 VOtte JO
.
auA u4Kin 4 0414-440, a*pat jo
Taltivita
i,
:,m144400
i.av..41
,
;
4 40 4 1.41%00 wom Jo 6
.0**;
sl(ct x4p.po
va,it
vrtlooteou .445.;
,„try zoo.41,q, 4 Wit*Oa
4104 jp comotntli, 4,110
4uu .1.1141 '14,200,44t gW10
4
4,4 Jo mootre4suno40 puit
-3140 0
("Wall) tTliarr 4S
410vj wto Tv ....40un 49ro itopo› on UOVIspoll lq*140
0
41 0e.;.4A410, 001,1041 *4 u; J3114;a10 outovogi.onl:t
4
0
4
011:WA 01, 4;a0V0
AAV
poAnwitwoo
TrotrittiV;44
410 4n tulv,4u;ultp JO UOV:.012 Atu
-42t44 tut tpu p*rAl iiq, 4Avpifou00 Trow 044 jo
“Ti110 YATiA it V)witlaou ao urvvell Iona l'Ita;
44111 40 %telt
11
"40a44P Tra0
0,
644 ux
- 11
t..moo
.414
441, 141V Vai:ou
1W4r1 P41 4
#0
41,o4taou a* Uvflalt
Trutow wINT4cy;; ripm;
Zt112J4T0A0
0 ut,1 *wv,.44fp
,
4ai-.44 01 tUZp
6
0 41711.is ;
,
4
-eils.trEC Aspra04114 wt.10/14 ttlYtta
1.4pTIC Ant
7
$A40 14.01to 4uu ;tt 14110a “no,zio inn
.
tl..tnn0 tpra ;o F.4pnC irut Jfv? l out
..o:t 'la/Roth:
AT
,
M 4!),41) Su* ,I,'A4V.7 U0$74
4.
it; *4, 40
,
0- 1 4
4,;00,41y1q1
;i71
2UNA,Itiq
04 ,.
tio“,
iartf:' ;Au .to t pilirle4qi
Aro%) Dtt*.tql1i4
xoplpi* u/ .1
1044.1f
.031
#0
4 pWnI1414* 4t" vimpuvat jo M)91114.J *VVT44
•
ieW
'
,pawn ti .10
It
rmit #10 ultzi
,
0
,
Mt atox:4TAR a
,t)
4
.
40qtv.' vs4x
,
‘400V-4.0 IlUcEir wi,AtAo0 tiz**%11,:i*
,dlett 4414 potty.tootcze Pyrp
U1A4:8 *J04.:. 1104 rri 1141k04iA
4,JtotAga
ao
Uolp.U4AU0v lu*TAA avw
.171-5TA) zo
ticm
utotie .4:16 Jo wirp
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
410114$1010.1 4..;.4)4.14) jo 'op,* *rit064110 elf 4 pz'oeT,A;$4 oirt
AWN 4aw r,t;otpitt
v qntio,
spopau to1,40, u4jip ott*
,
1
“
flum 111 4Tu TO
e spetA
omliwo tieJLT 010 - u/
;r) xally s 'kg
t,) 1111)tirv4llE441 •*OP .101,10 trs 4,40
is44 06.
Sanc
frer4 oitqw,1 potitteqlo,xd,
,
Ivirilettro-41
, 0
ir‘1,10 41 1n.04 evernictiv tri; !,44.
6*0144 to. jo istYvwcrawx.
xiltA wouOvicop
AT"17710'0.
V II
0
414 1:4:
oUvrit*A;*,z Ita4 •5TAltaopipsUrotcx flUatal
:
AP;A. V tit, Tisk U ;4Iraq,CMS* pviiNgaa ye
4tioviai
•
: ;*01I04 *4'4 PutirtJ el
00
,
**A0fAgilix. ituromci 111(4 Aloptti 4W1 Vsleg %Cita $0,
; vv,Joradoutitoug
taft
4Tt wortlA
oweptemv 1,11%
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,
4$
44 11 1 00
1*10. 400un
OW 041 4104 40 s Aft44
1 ,1 ;
.:?)3 444'e
,
0
,
tE
,
;)r) ,
4ltikste!
4
-
4 44-oot ato ptiollts
,
fri ,
44tg
T;ii
d Or 4441.
I
'1:4;wood 01,OM 0%
ta pult 4!4Itnttv2,*
pu,
1.2“td" 140p4 so
atv •Ital-kot 0.44A;4
PP4
41.A;
117tV:„16 V040
41.
W441:0•,,,
*"..;
4411vits *LA,t, 1.1, wvzli 4.ovo 4 rainuit$,Auog Tiko'v4To
jo
411104;Jo
1 44
i:1 ,4 1444
0
U6T OV
$4101%1010 tt
'
,
rn7,1,
,ATuo,
u jn
tY4
'
iirzi:tilat'j U;
4:44d1Wg 44%1A l
f ,v43 u* 0
4
40 ;40
144.1
*P14,7;- 1.14 4
01 ,11
A *74441A.Ivii,
4,uorti
us..v;Ant ott.!4.
,
uN%olt ti4tolt
4odoon
uT
'04%1:4!., al siortr pti* 0 4U00 Upek.TAA$ Ur• tionwp
E
1
.
4.1140Ur* 4410,01t;)
SIMMS* Volvo. s wanow** $ul;
-pciootlg 1A411 *Via .4
Vi; wow pitawn
41AficAdO4e
-4140 J
sq
riatiMeta 4* Apottoo4 94:1„
..e441s
pi7A114,120*ia a* otv 0040 410W
'A444'0144 in 1140p
4 ti*p Qv.joval . wito tur
4
u. vitolvAttott
.,
l'404'40p JO 401;i4,440.0 410, 144
;II 414*A 44
ui" 5v*** * popup tv.4,rourp
*0
avv,
jiT
politop 144, from, tlawd.
.
u/ .344
ao ,;.0314,;(- s v4pottl
u4A.
s,T711:4 jam
-.11t1'j rooTATTI 41$,V04001:i
JOJ VAT.tos*JAI
1141114z
o% 14144* ,
! 4. rra
,,1
s.uploviivx.
.X.0 411ZAW44
;iWOO j 1111,71*
'
t4tv11
1„,
,
V Uv
4V44f4 :04:4
.;;;aloSo.ic IvJA • 4. • 4440r;
-Uct
,
A4‘6
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
th4 htlietIng, "Or3,4tleffirvvothr.p.
(.%)!elo1:14d1N Jr taw
'
7 'Arvotdureo :da"
.
_111
info
yetrap
„
,
'%hlt
ro
rilf.ov
twt muintAlryld . for %.40 or ju-r4f010.
• ltW lloAtt
'“orn
thei 14YTh*InAl
411.16tv.mt or ttedain), fOr
insW'rioitney of
conpInt
any rt,lt or ..ietloirtio for *rt-er
• la.ol oarlm.V4tA by
twurtt f4rmatorlAl
.nP %:4V:,er d'rewcr.
rqn1411441 of tha
jlentat" ror fzmue, pr40A40.0 tn obAaining
jueilmn
- ;t:.g.14 L jult ,
,
m4w taken imonfot
the -v4Ixty in oonitAtine of surp
t mintakko,
stdroorl.ono
.;1, oxgrottAblt
41* tO 451t
* mlotAktIn t-M farm or Vhi Sudo-out* tut no on
act10411 of M4,44rX littch mAY bar. 111,
*11
a
d.toln110) ur
ortgin; action1 nor merely on. ne• lx,n1 <4' A conflict
4Ari.dignem,*
The ata.A;oncr
,,m4t1,04 i0 ittWalsh1NI
.
401nt*I'41
of
,rtxtn't;
A r,t4110.1n 4r juOgwirt.
gwro :tatf.-rev
Th.At, x 7,11f,
,4
ci Srg4gli;:v.An
p*rteles
77Ar,
11
Thv FtAtrAl Pryt;. Ac:9
.
:i
morltw 1)4315
.f rtnflew, haimintt, in7:m
r
• N1101404 sroluOgot
1, lesammie 1:ha Orponinaliion COMMic ittfl
fl*4
tMCIn1, plAk thot
,
10
estAbillottAttoll 14, did.
Ang nIct
2. Ter' trror of 1A* t6n*Itt,
1441.1 ryet
,
flortAtvf!4
by Vt1/3
3* On obtoow cf nqtAl r,
rogAtt!' l!tortorcred
4h,te_
*
.
hch wA,16 not
km,w11, to the
I.V at
ttrto.
dootaion*
4* 7e,sr rruale prAoticme in obtr4.1ntng
ju4gri:t
1.1 4
A:os.r!" Orga!zwA,:.z
.4
nitt,
.9.
50 Itell0 Tho 1Wtral nostry, Ovganiaip
wg1.6 tmktm ln o01004pienas
tin Coricv.o. 11t1
1 socommt
or tnii4vertnt.i,,
Or spArprs, n.,:i*t4
the loertisio
,
61
,
Of 41101.41 10 irtogloct en t)v;
now teMpiNirtinge,
44 nAtItrio of a mjittA4 tn
dosiotol pumulg*Ao0 by '1!tt,' :1,P614
Isation Convitt.
0
1r 4t14 ,44i1 of
,
r, rm
OrAn-
erum:'4!( hrte
tOlon
1
tlf:on, of (r)..
t=4)
b* ma,
Orp;!tnit#tion
J14 :1,11ing
IA . Is no eibin#1, in thtt%
any of
g,tAnelo autu; itinir a revors41 upon Vnio rweft,
,
:
.4
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
alt ntoW abovo, ctitt in ,
q1kto proistwline;0
has borem Khwm Akti47111 All
,
P4wItAW0 u'POrt tItis
ywrot
laptIfy or pioYltil:tt
neaT04 In
ludgryirt
1A1 Itstr thItt 4yrder siowlef.tr ane rt-
finetago 417
It
Th:4rtfp nhInt
;
4*6tnttyltwing
4 1
0-rgv114;:' 1 4700MItite
riciAont
grotme4
Cirrloisa.
';icm
ut f%mgrottiov hae ln n'nf1.1
used the lAngUNIP ;':Yt Aid uellin1Nio stAtut, *#3$t It r,l'wuld
tho right of the Yk44;IrAl neelrve loetd
d ewlvion of'te OrgftnisatiOn Committee uTQA
fur rikaoonn PAstifying
knolg
unIeJull
roWreas ae $tawntbye.r'.411grooll
ifIr4r'Y dialteitiatiedi 041411.011ty in the Untimild St4tee
vtale ti# NP44ing *0 Ytwr *Mt'MB the dOttrin of tht
,
gault4n CimmitA and madam y4v47 Ivtard, u2on
401,
th* Or4:411*zation Co!'.irlittoOr
ftprt. Vht diotrIct liTvv4
scti
v,4.1;
„‘
Ttlfr)CislvoWv5,11i
44ft,wAt , t",ht
Jt
f"kit.l'Aoft dhpould
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
not bi.t 144,D.o.tio rt1c
by Youx 1.
!ord, ane %(oe4
11h1A111.
r!. Arntrit1Tanst, ,, , lte your
1:40w.zect
or
actlon of qvtl '
:
.11*v.tm..t14.1ati5n
rilr*rOTP
r14ht
oxyle0 144 et 4411n !,fl t11, ln, 1,o A0
tAfs
461714tnt. 101At
n
144* t:Ats pwToot Of aft.
,
th49* ,11210ricta t6 1!
rotquir
gtts
,
..,intatO as origt*.
nally deformingle by Ilat OIVA1124t14;n ,;,ortmli.tm
gr4uws thSoy,
gcl; OUt axle rwt
ToCrin'It A
Imesriioxporlionow #11owd,yy
4rtie$
u
Qf
ohang
thqt
linas 00
floor-rmietly
1,41r,
z
ttotubIiohfJe by 'Oa* OrgAairAtion V4014111
4net nho,
•
ehAnAe44
1AW 1r4
found th
714g ,Langtiav:
11 rhg disttit
"
buartatee mAy
4;tav.3 new districts rt.:14 11. last 1112..
,
1
:
:
.
,:.ea.471,1tArt-cd
bos
artntk4 by' tho
etr-11 tvalv* In numbr.."
requirit
7 1.11wd tcrvi
ti, 41 iltowl1Ao
!
0011.14 40
titn4
4 ;AVOn
oAt
OnlY
40"c/ri of
to rnIrofrvo icwit
W40
for itog piAloso of
toC3100 4'70t7 041110414 tQ
;t taon namniVt*e
0
unlosP you
thv 1, 11 knn g.11)In014
,
5
paeoing TOWS thtshArsOtttr#i wtmlsooAng
it
th* Ororantnt406
;lhe setion
in
c,u 2!,
.
f5t*rlIlty
tlAt
thlit r
,44erqvg 1;tr*Ittvt4
reY10**
n
0Ant-
I4oard only to
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Nhe.Jh 1.1111t wird
yii lte *lotion* 14nitAr
eocrelesivill it.
not Congresmtntinton t holilyrov,
t4h1S4ho6 wsd. hafi
11,0 1
tolitxr
toAtft:c4i(rit-
ptrottm
,
r;1
.1.*ett
,ti,rtglth
L
Orb
:
4
11 tO'
cromr.
llpfcn'ay Ots1,4,a9 4kethtr tht Olfeniottion 1144minil
refr3ln from Ohrtni7Mg
nIttoed orror,
11”qr or the
triot or oritotInK zwx 4Vixtrictf.; if i,hba
,
,
the Iwt „ Q1,A t:rr4r 'Au!
thott fjoltx2wIntd„
jf
nfolymItted in the totabl!Pgli
fl
,
dir trict
beeekk*it; Conlr*** epoistfivel4 eitttesthat Oaf dle,riete thus
b* ree4juirot*4 *nd sw* dlotrietS may fn ;1.11L
ar**4eil
ang„
:riro. 730si,rd, eht:P*1047
,
thei POttera Reet
eraateed
ollow
rril ttfl OA%• Use* night itoterrAnt oad
tIctiv,--rket -reogr
thmt tharit hA4 bomn error in the' eillt4blehm*.lt of the.0
and Vhht, iihen that time othould t‘rrIlifm„ your Neardts hNndn
y4ur Poerd mould thvn cxer—
,r1„ lout.
would not than be tIt;
els* tht right Q1 ehunetng
Itnelt or ot coreifting
triets if, in Ito wiedort, exptrlene4 haA r'hvn
fl4thf,
th-oct,
Altitt thing
It *A0
th6.1
!umoot$vf noncrese to parrnit
;.(4 A.,urk out ',,J10
Iron 1
k:r1o4ng utvlor thlt in* In a
thorqntet arid ikyrtmfltr::les rtAnriltr
+Avow to bt tkr
r
tp in heAr$ng tneUoop
*hon it 111111;14 yQ,ur rtIht
ganiastion Commitvot
on wppc41.
,
!,)47.131.t
rwthor
otet upin 111* judgmaut of -411v,
dAtht
ravioli* its *etin
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
40
TnUtftrguriont or Vonator Ger& trimth
ing
r.31104*
,
ngu4git:
*I ,rvAlpibefully otibalt. Vhat 'Cam
acti...m of
,
4rolriaTtcAott th1Ch ahouId eantrel
,
Antera-Kt
gener
ln tho
succmx 4f ;11,t neerel rv vyr410,1
Whor hm)e, tho
t,41-1m. on gle ono. 4oina lndl an the ,
vit.41 13u-too Ane. :0,11haa el' the Ok.:;ti
bAnketi
Al000k thin trwalf4
le thc
'That
nfloe
TyA trAnorcryd to the
iriabmnk41
Diotrlot. ln 4-v71;4bl:1;141104. bytvlene
,
n43' only oonvl,naing but 0T:rli*1101,141.ng. That
,
lamke out of 146* rAnflerek:db 17e
rth.tm. 'banks, e;40tAld
YAnod in rvres":;inC
Vhva transtfor IIVAIttv no room for (:;olibt IwonIc
point,,v
Thl fLaaafl
,
**
d'I &r
h*
ntf:ort un
owew In;n1Aro in Oklhamlit r:Ity p 4.iJin
Okihorm
rtOjit2'
thc int•taf
by certain 1Tuuthurn
ViA4n to '1
.
,r7..1.
air
tion
twuntry an0
und 04ntilete,r0 by ta7o Organtzn CommAtti4ft,
,
,14( wodlotp
bank
rofrulnod trots hveing
4bout IJO.a niontost.
by Your 1504rd it '411
31140k witra
st&t* ,44 :four Yotird
.4 'r
yt.h1n
mv,t1tin thttt
fy ohleorer
romtagatott
41
PTsvO a !uf.*%41-i,
s
'bf
Iijt
diri4,ctorr of '4:114 nallmo
of:dont 4 r7 :.vrieetntittive
:
1Jet,-,tr and
,
antiwar 11:bla poo;:tAonsThfI itho nolIn44 171 t,
:ral 31,tr Yr 1.41nk
,
did, Nnd 0
1!ri io the roil, Otim VIIJA
2n
';114
,
Wolf of Unatoy4 Goro, 14 Malmo b4n;<cr hAn v:riten y4;:.ur Ito &rd.
or lo& ,'t11, ,tarA 1,tif4nt yt...ur !Ward tn 2tny ms.nnzr
l f
#1104*
r6liao dooltird mn aumgr*Beive
•.c47.ad
wirr iti
O'qa,,
:hama ov,!gly;:q7s.
Uo
IvAtt
r2,1
1kt Ilimrib4
hAa
S,A00
tott,
y7Aft.
of f.!%neys fr to ttna
.
1.3ttrf
ougost in iz:f ManItr how your Doard.
neatest,
to,:
ho440ing befor
or
4
t
8*;4414. 10; Ns11:t crin,
aiOtteql molAwcp of Conrri4m
bp,i1
totforyqu
nvaxd nelhtr of .r114,1- Taxa*
•$t:zr
415na,
1,
,Ir 4or.Q
1-1.1m.tugo
rtfovmno
this; riAtter.
Nyatendo lyt him mrcirl-vott
Oki:)kham* tenistre 114 evtablifilenntIonsl in
City t 3t0 Li
d 2tsteru fivanot4I et4nVirtr, thA:r,
;-
fore th,t Nyttth*.rn aklnhom t!
,Iskst diould not bc: ins.ludcd 1.n
yia;vonth
btraloftrri4
trio.
A (tw,74ful ,
4naly0A*
fth144-t 3rguasaTA
Ill It4*4 to
oray•aad that ',/v,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
laNikg in t7tic
%Azi Pt
lowthip but tjtat 'ghat
4'614' Thrk,
loAnkno
i;Ifl
—t411,4$401; 73„t $4,
rLts L0,
04, arte4 74Inttifix
aatoppr',Ivtr •.,43.0.h
t4f
bArilm'o r;v.
rAy
*tab*. ap
arid (71,10;44
r, The
a ;trtt 0)
4kaate4
tlietriet, t.he--rt
hAyv 6Init bitnosse la
ror
'!7.11tV'e ghouli
1111,0 -4
,r14
Thak ,..t to
0100.0 ci:1411,4,
butlohAt, In 00m0
1.1A01 Of
,
no
114nks *llat
aft, dtstrntliV-Al
remtrvt bonito
is no use 141.
y
rel.4t Yropias CI,
44A
r*4i',$
b4otruto*
otIsihoma
rAnsasik
Pur*.
4hy ';,kvay eh41.a4 sukt 14 furnIc*hte ano%hcr
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1.1400.
4
,
Vuoinesa oonntttion to Vh* $ uth *nA in th* vitinity whIrtsii
Tt 1* not- th4 purpid** and Ajoot
vf thttr proectt
of t7.1- 7*dc .si1 .114ryi) Act to 4eitstINri
11140;
Ilnn;„:1A halr
1
.ktn.t7 r81)!Ili7.fte6 '
.
Ntch
,
f40011.
glIre 9t4m
a* a 4w1e: may halm m 111Dre
tits, %o- t)v fmA
111q4nol bg004.
st*ble
InztiltR4 of injuring
tho. 1INIk:;, In gt.vul.vn OkIlAhoma tn
?Agtrint lines
.1.tqntii:lei
ttr f.ostablithed,
to romcln
Oklahows in. tbie
,
louth*rn
nistriet '
,
1111
Advainikagoe
ftnd tacilltic* of thf;(t, I 4thArn OklAhoma bAnke wick v411 Inuit)
0
tt
thttir matistAnciiza „
,m4o1lt rather 'than to their
If Chay %aye onneeti‘ino in ransav Clty
can r0,411fl theAr
t4nntation and,
&Ad
YIII havt
matioraotoy ooarzootI,.
.yn
ifter* thA
# ystritn%•
4
,)!1* t 4A171
7
1
.'
thzr4 plartion
itirs ;,! , uct.e, of th
4
f 44t1411vm*
$0nAVAir flor.t.!
w1t114.
,
otatnt rn,e1.4 4 tO
t1toffatot that Malas whtaesp.t..Xo houtc,
F,0
of tivc taktufg
:Ut
400Cwsti
*ad olott1
Thl
f
thit
.!,1 0 tits*
.
1
orel 1: itAt
V40141
,
44'43, by th. Qrn
44,
4
rsk bu
rtizse
1z
1,*114 th ,rit tiro otaY 2
%
,
o
;40::
)0 wrchAnt*
t.stfnony Iola taken botor14 %.11t
-
ir Aiund
mtaW
Okl.Idthi444
1
Okl4h0044
Ctinm.:Attool or sat
n?agt 116 of the S'.14,tt 711aovtl
Thalixr, lowtotitg bao3rTV40001423ti
'ih.flmf.!
-
4
ns,4 Nut part in the rtat
eAd
1.„r
,
mxt:, rwoomowlly moan " ;)*0 1 -1 13 0
,4 1
. ; 4v naleuntp
ri0rdet
tire krt..! MOM r1
C ,410 ,11n
4
1ith 0
1:14h014
Art Olcloteina cat y7tag
•
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
air*
7.14A1,1)Asi rlothJvtts lidibitik ars not asopod
J
aist, rAntr
:r
Art It 7rott nubf,
ch*nts,
Mr
,
nor-
0.1 num-
Onr, c;Jtt.i;m-fid Q11 -1.11r,
pa4v,41 gmk
mh:zt..cttr
0,
'Wring trit4 Tisosit v1J. ca441 rnx wr that
4V4
not 11xted ar mairshAnI4p ia 1,1;Att commoretal si‘otgr bul; 40.dh
arn, rvro.r1Ilotlass, biAtinars Annuti*tm in OkIhum4....
test)oir4ny tilIcen try the OrvAnirikt,t41 flowlitlAt*
ap10 N.*ts disfrvt lato statonl*w43
to p)1
.4
by tbp ru2vese!II:fits
of the OduthornOklahass VIgnItiv to Vh4 ,A4fec1;1 't.t no but4ntes
WA ft
done loy Oklahoma
it Te7n, •
'4
Sft4tor Own, *lyo, ja: 1Jo
Jr* highly itool041
,
1,r
and Iihe finAbot41 Yletit should n40-'
smic titory.
an
Iv bizhly un0-eiri$XV
olltt as4r144t
vhat Oklahosto$ th4uld
middle VIA*
old to Van 4thft-A., that
se hfot OLn11L3131 lompll should La soft't In tw4lA t
'her btokero Ou;uld
etv104411, that
ptiK
4Is A4014 tit dirAcd, that nJurasion Otov1fi
TinciologlV
lbg.i mad*
,71
UttA 'unity hi:Yul,
pro:mount:It! Nuo% 4 itte.no!',;
avOnsA 412 Un4frunding
L'T ridontAF $4n4Uor aoro hp,d dr1.1
h4
"
6t
8
" 41148 '
11 "
*"
tht Poli*Jeta
,,
rU:17 1.11,e 0:f:,tn me
thir Vfluncial t.iiI vTnt in twklm
wIth rantqa f"!tv
441nr
4
MOtIzt 7torll; :tts 7- )
r
not
r:h 1 tlq0) '1%1 4
%on, :1)CA,'.
• ',.!?-w York s
AQ
Otati
,
thoo, finane;7U wAntt of Me OW* had trin t;:7rn
.
r4e
Wad N$11431 ,
fli
or ih.pt
7
fiaanea O'MelltOrsbr1, .
Aoserro
1 ,m
renator Dore node %).0
t,11.44m nor
Oiritartre'. s thIA
t
•
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
f Oklah4ma ta hAye bow baimik,
vow hurrui y.) tfttA,to
0154, oonttre
, 7 vvr -1 11;-1,1 70
i 16
,
mei 4 conott%ion 14,f';
4
10
'lading fume.
Iwoar1:7 all of
havt rl.c1;;1
I*U
2itPargrrmnI:, -that
1
hi041y satirfactoey 4a4 tt
lvtAfti ff_n/44-
thtt !elk.twe for tht 114117AS
best
01-ntratioa tlo=3,.t%
fifTnrplml r*Intar to
0.1
:1ltaosc.;t1,4n4?3 mtvc
of
thee_
rttfl
4t
1?r
(1174,1 cOr
0$1 uo
-
tl)n Al*"
haaa bAnkA *A* rora hie-ay umeral fluanotal N)7117vctiOn.,
Stalutr frolt OklAillom% ritTv
ln hlr nloht 'and sty# Vh*t
0114*Oh action hAJ.1 rfan -f,; aptk:;,it.ar th%
tompla 44d wile 4 s*v:.
natQr
sf,2nttqos w;,Y4t1 un tArtoff4'_lng
dTaws 4 irt.
*howrtr low res;43nwiblt
strong 11,1elttnt
tNtilblihmtntø
tht rreont
,
-lotrct linvswioAlatti: thv jvdclont and ttet1011
tribunui
terlbla solltancg
thet °t7eaatw:. wue trilag
er.to
ThtlIA4 1>nkm 1.4triktr
hls
'..c1,1t.
tt
nbj,t
howevsv,
pronounotiz miteAVIROW.
vonttilnew
4k,titl; tual
-4 :u
;
Aha 441t* roollewt1
the Organistilion Connottto
ompooted 4f Kr* X0A440,
thenHadb) (11't
,
0.t,,n
rIllArtg, two of
tAktitt,:n
noct
.r.rtgot
toAlln of Otis sattort
linhmient of Ow pro,.ttat Ltncni?
,
of r!'A:mmay.,4
.
Of co,.Irs*,
th* tmprtrrin thxt,
tat, wh,1).1 hAt l'Ialate as t.TA.n
let 1,10
EcCh
one of
Irt
!
,
YAt
C4rtroller
Aeljon
ths
Org44)Axivq4)n aOmmlsoa watt * artnt and, ivatnot Areneft
$tJt
t01414ftemse
thiv nott,r, ln vitiv
01.0 in,OietWint
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
.174.
Mr.*
woo 11474ailet3t3
gervatiln
'&0 Osialiblithed 'Q'1,9110
Coal.it',oe and
the Orgalliw.lon
tivt 1114
'W11
llnea, 11:(4tvt
.n41 proalici,by
IVInate4e Oc;r
pc) 43'
v1
.0*
WAts
fACt 41.1
raanActill
Ore4111.4n elommit
171.1
glotqbliehrlent
Of thew
hrito rent Airit
and
rtin
t4uin,
If*
Lftgtt_tt.
cillint“vt
°9 5011
"
Mtoe
viciavd V,1
1,14v41;
,
Talt rpA70,:ttnlgr,t1i2a Cinx -
v
did ittg d%ttz/
owpqnd thut
finkmaly,
412
If the Nare! tikm raotm-ib
.7 174:1*
;
4101 Ynt, .11.74*
"'
roIrt.m
unit of' 4Ahoma
,.
7:4
Irt 1 of 1'A
.
,
rZilrl
in the
lr 4t1e i24 too a 1;lbutlill
w14
af
itr e#13.1
pq11 icvAl
.
her
*W00%
t
la
sucneal.
le ::441 r1Q“o 71-dOvv,t of
,
,
411141:Afar 121t CV
,
t,' ttz'
4
_ripillittiliteAini
htint raginwor
Mull we
.oRre cannot sit:i,in thift ol.ent4pN,
arC, rztrwcif.
prvnpunee the juAcortnt of worm' than inownpetency
Orr47.11kAtirm OvmIttoe
*Leh
estatlikhot
rlutibtor rkr#"fr
tM the
liaeo.
.i!Vta
orgumnt/
It h441rIn urg04 %hat Oklithomm. City
the ,
7
3Nnliltm of
Kr* rf,tepono016 for thtx
4N)tALt. ln.0r 4114. Ran
1
dinrroved y 4 1ht
,
un4nblooir. wieh
entire tAnking fro,
t4!
,rn1
of th, V;Att.t. %tt if it v‘*re 1. r1;0 I mu
z,
prq 2nrod
such ArIlla on gig part of OkIke.'
h4m4
if it witros,t t Icri not a grIss%A. §
4
fNAlt *no OrTtak City iohoIll(i not btf
sTIOVOUSly t4 3ro«wilt
,r At. is fvA.
.
itmb- ti:, n
,
of
oklahom City that -th#
milhoul0 bv 4 financlul
tikt 4
,t11 ;i1.t
yoli ,
Ael
thal.
intfr4st.*
akihoma al*
-1100
vipzqui4
4tL4
ri lui74'4040m
tto
pm, isktol.vmp
b1b1aktio
Uf5I ;Irtiii” 0
pu:44.4
-
t.orw:
.
,tv ioult
s ksi;
ouloW;
111(0
Kt.
.
,
4o1414Iqo u.f.hvortoI3
0444WS U1144440 j1 Altrit4V3011V OT„
.
2
.
'pa qo
. 4 ) 10 1;144
11 ; Z
•oapir
1
trr ;
141.;.1Jt
ti7.i„fA
•
Otr;,
T u
.
U;r4 id
11
;
olt4
d;
,
.
Uc tL;m*to
-Z04
To want
VI
;
:
409
r.v. tr!!,itt
,
'irrN
.;"4
£2.
Li*tro 1,:tif
UsAr‘f
wt.1011111M011c o vrnr..va vs
,
Urtif,)
-17. pi.girt
-41) roto
Ovj
4
4'4
VIA&AWN
911
'prim a:04 aitt
T.
u Tift; Tett00 .1441 3iipurot
4A4
jc!1.#44 .1:
,
etrf, •*.044
rola two T.0
.
..00
oftto irtz1:4, thod
I
•
'tStiUVT? to:
;0 4i;LL.3V0,,I;VIVa
,
41111.0 4trii 1.1'.!..414 444 Act putt 424 14'.t.
4
us)a
,..yun
;<on •
Itc34
tvf
;!..0011341 '4
uazi 1444,usto rat
oro.t To v.z
vorM
44,0 41P4
Wcr4.
Stit 4 1.V
4111*. .
*
iitT4.',7 .11N 'IN
A
q A."01.4, (Az pa,rfr
-ttp
ki;:43 ;toil
•
tic4f,Urq,
to pc Yt.7',111;TIGiari f;,I5 e,.11
7 : •:4
q*
,
p 5w.1 un t44. .441 po was
.-,
UO'c
COM:4
4,411.i.
•
ITCIllq tri:
gt}OUVIIVA
in
4.1',1,-1. h744A IZer
.7
L;;' 141,
0 i1AG
4314 Cz".11
1
1i
pu
(A4
t4112;
•
tni
1,44
MUM
17.4to, 112 Ae4, ;;)
(1,
4
p mitt ‘,0u(3,
to; as Tirva sc,1
qua 14'0
1,
v4,:A 0.4,4Lfl5
tz.ve
Y1 •4.V,1„*6
$1140
tizti
;2I;
;id r;,.0.1:eyikt...p.
tu
o e41,0 too 140 , 4:
44
p;Iv aotril q.ortvia
i:14%4474gree wag '.1411001 èU ;11,i,
zipizoj pit,* 04.0trtilt;
-41
,A ou.r.)14 ithir Viq'a., 43/IV
,
Vilptir*
r'tz:jtZ
t
JuITTpl.un .1;4%1. J
4V;;;Dmitt
,W)V1.141014 01 put ITTIo 411 v.4nTti.'
U;
lot a 1. vant 1.)10 ;0 : 0
111104.
,
k4
irk4 Jvillt.4u0 dutipTx
.
w*Ttvu jv lIve 4in. uo eiJ44o.p
ICU
fit:'s 4,4
T rvi,t,tfu
I
1„..37Vc;.
cai 't
U CT: tk)1.% 0,0Q
IOU
,41.4
CAt
1;:ti r‘;
1,,TtrA4 INV f.:•!0(:
3W412 42 1,4;%::
tfiN
4p Tun otra p741 tu.r.O*1.41,4tttletia:qta
'Cu
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
_rrr -
aribltion It commondbiblo g but
)0100 v.111 00nat4e tAat
oiltht of thu aire results
fact, no c'n.,o
04ding
tat44YJ
amt.ti•2fl
Okle&omu
fica1,0.51
oo,nitest btrrcil'el tlylp nookrfle Thift
,
ci..i, ran..1.rnA,1 on
A1.t
,
4011:47
01001on*
t
Tr I. 4bectrazoilcel&
nett*Ot
1)41 au ! t -,410,11
y-tr fontel
,311.4, C3.ty :4:44 1.1,to_tt rt
Ok
r.tozel4t,
vrtir0,111 fs..11 this
Ohtt
4
01,4
Vholt on1Y
wouId rokitIts.
,
the trrtit,qd tr!tft.tpoli Orikhoms, 011,9r,y It not 1010 tonlY
3fl1
(,)thtr e...,..!Ac71 hut 40'0
batikto!r flYlontIn in (OvIlr 1 11.74nIty
,
n
t?:I
ifl.
In 'the
,
:
;
0411,0t and b totakinp at
04nkero In itm
,
1
thaiv.
ly
(v.)nt,7,,,,.,
,.:ttoo..zAtt. eld
r
.rr2 01:141wervt, val
rou.
tcAn
tin 14,Lic,it
,f
.
mtt tar
n tht
Itt
5s -not
in 00111100-
iv
.1,-2.t
‘.;11t4
roffit
woad foimer
Ame how_
writtltit
1,ran*la
•
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,
bunitvc;r7•1..4
bakit; ittnd
*
.9 a V 17, n
elt$JAr ti.41
;::unqoA
T,
0
,
Whiti %
nm*crP
kit tl-tftt-t61
f bwribtrz in Ytnnalyiyan!.n Ane
tv‘is
A
h14 a er ,
d I •.'4 in 1.t.a
t
2."V;-Atcrv
at Ain.
roster
47tyttIf.;1
's,;#rrito...,,y vicar
(403.
fl
:
,
brts.,.nch tmnk antl hrir 1:Innkr1 .0 in
.1X toAlv' itrf 4r*Iticn.
!4.1.0 (m.4
bv,knIt ,:4174.4
1111m04
!).„hir
,
*,ttn
,
ofl 00untry Voltv.: At titiattnehtp would
Tiirvang,L,arnr4Lt
rtk,V4e:
than
All trri>!r th* Unit. $tutoo
frifttem nu bAtle; Vhtir
s*
:y
eta d:
ef'r
,
fe,s: It nialntAtmod
•alhcr Cl
ytith
biinr,14;n4 if thib 3oard. euffuld
^
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
btad 1..Xt indAtm4nt oadvt by
ftm,t001"
rtt th* cOntcrtkAl„r t7t,r
,
o work and Ohou
4.,
4
trov,
siT.'s
floe4fttio wO911 1.!Nn .
0. 11d ane.
toot faur oont
flnd
ur tin& wtm:V bc• tnl:';11
vitae and
:ani.v41.-Aon
Oor* or Ott Ori,,
,
wAtzit IYAfor
111.
4 ,7
1hz11kE
Asid
, vr , nttntir, m..neti pow.
!
htrOlViat
of !r7.1f1 oratilcn ;.7,i,4n thole
Yollr bfAnkt fixT In
04X*. i.
ingiptl.ntv.
"1avr not
Ohtd thtiz. lonrt tAtit40K
,,x•
4,741 oti:a 11.1:Nn'tv
h owe,
A, ;pfp t,
4
b
1,431
tht
ruts
i4f liogs• 1444.;..14 at.*
,
p::tr'z04:7,3A.::.v.) the orm211 rfit*ok
.
thii.t Ant*
•dA.«,y
of *est 1)474nIx
rn
1.yr
rtiott to- rr4.kot
0 1111Kraeft
,
%Aar: IA not
11#,Ite bLynky v0.4.ek out 1 1104r
;
two And lizt tliv
(4,1%
mAcioftv
iflnrtrlat4
%h0 lottlingo ofJtic low.
dov t:t. 10A
They. airs
K.
yvaT o.r
it leAot sfilt upon n pmanr tcx,
,
dietrict Llrolf aro rtmt yuncnacz te0 your -
Ike
s.7:11-
Uttmzelotze 4ad *-11(111 congta?
fItinat4,iir Moro WAitititit that %No *A11'1;1411 on thc:
or ,,.1.)31.:1.11ort% 11414;4,y
pArt 4f D%11rip
,.7•3:cite ast loritiont.
kittruk
iaidole-hAir
1114$
enemthAlf th.1 b,
:lnX.dre of
AntQ oWilrlAy fl .Intt Its All, Knet
,
'to 1100b4n84
r1412171f!A)o. of ttit or their
unAlIing netghbt.
to .th.
Ai tho thildre
11*. ugq
MN% If Okl4homn,
soyo
by beAng '.•,1,u0.4 In 140
nottrd
ltAnnotl,
fitate
1,3v4n1;h
-
40 r7ntttr
14A i21,
oort
eapt,ivf,t:,?
thmtn 747141.! (AlAham^
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
tAttfveltoy. WA$ 30.4)21,,,n.Ild not by DaliNw, m4,t.
bAsitmr.n
thc r..1I cr•ritrtt
,
:
,
c.of
!iho stwo,02)
Weir.
tho Ord.
Aho
guliV
'l°
gArg irAtiort
tho
t.he,r; e
t
r:
t;11,
?AA/i:;11 Coecti t
.24rion of 01.e.1;liwm4 4nt,. ls
br
ilaitesati.*
4 porn .41" th4
-
101';',0
itY to DA111*., Anl. thAt, by rftaon of t..11a kidnz,ty,pinc. mn4 thfill
,
.
ofip4 411r1
.
Dra rol re',:Teei: tint i:itt it 1cele,I.
cours, ruhavAing "to lAut 4004rin51),
:!?,1
con‘statuW,r •t::401114 ..rrirr..11*
,
-
n
tpVtvo.1 thAt
1ft
Atmlriftoa7
7the 7oit,rd
led :;.tv
,
OAAAILL4
nut
1)11.elm Vh4t
t;
of $ohvgrn. OklAma 174711:, ra and fe),t.t
:
the
rfIld Vhe
isrld h.
kiftloAtrs A3,
1
tht
,r0 Vir-t
t:tt
DalivAls
4nel bound therl in
1.tsr11tnt of Iltt Sttitt
of (louref.-1
'',;it-ltlihvnal ikon,
. „hiz contest in 174hulf
'
tostonto r110 4,",v; uxiMtion of
Nrion
Oe
conr
winnot
PenaVw 1-fne Imyrt
'T4v-i,c Moab
41r.
itr41;4oekt bc
homiol,-,*1.
undurinc, dlcatt
saf1thnes0 ot f,
;xreg, ;4m 1A140
:
1w7 iflwj
tluctazioa an6 proteEt Ali the
tult divoroo :;tr*Atede tuttvtmAly In
o14011 a
The ql“otl mr.r3ot, vho marrlse ttivten OXIA113tema
to NI:1AP?
)id
'rJ, 111kr do
'11:1!fl
any vprer(trvv.vANI* cr
Yohidh eltlatctr Wre9 ISVO
Ind
corownlY
1;1,4 1rkU4M6 and. unnatural?
tiv4 etatlemm 111?;3 mae;*:! this sliatela
I% Vika IVA 114114,4
.474 0 Tter4
1
k
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4144**
V, 446 not V,\II40 bonktro.
ITtwa$ no attlgtn ,crr th
twit Taxuiri
11t t'f,0
rt 4Ao not . e)oto n7.41fttc.irs. ,It woe
, ,
:
mc 11441
1
,
r.
i.y. i ,toteits seninyst watt :„elierr-tr,1
rlarrio
to omAnInt mr4b,, rm of -Prorlthalt Wlappn's 04bftv,,t an0 by
!
,
compt1
-4,1
ClArrtncy of 11.14r.
tivri 10411t,t
.:!crcrutary
.nne!
etwad bt ot;IlmartA by ron
Moir awi.ion
IA
,
:hiA
b4hs4f, if yr,,,41, outworibe to 1.170n acck4g4Thin broOht.. wrqinst
thol by
1p
14-tie Se.natox f.5:m Okla)wmk,
0111...
"Vtu mhw414 filittvr h
ctw; o1E,
7
vnwalinot
duty
Afltanott.
Ifs hovivr, you 'IaicAre V1A.t tht Orgonlitan Oartnitt
proupto
by tht hiqthe
.ot
tubj4ct to !,:rk
(1Qmmit
zbAct thmir oonftet is not
PriticAam brought agodntit t11:1 by tilw
flmm Oklahmas
viss
t7;t:,nw.
,or
OrettitOitohmnt:
Ovor00 0Y vko deotro to ,;(,)
40
ts:Itt; grqs.I.L
,vt numbor i41"
tood ror
wo submit
Alol
040041at rt:tlatkor Oore in fbxltertwr
omlnl)t
Ok1sAoma
City.
Ilhot btol
11,:
.
done that 'would 1!..;$tify r4nater
Gore ira 34"ki2fr, SW* Uri 0a g40(44:1t
4
tr,
?silk
itNalvt,;
1
etono,
7 11-n,ri in rk)
ir115tr:ettolo frqm yovr ',o2T411 hIcz rttortor;
c4urvi- 1 ,
,
410 rmic
all t":1‘A
ha* baen
ntel
rfT1y
th*
44rt&In
r-111411*A14
rnet.;
,rd petzwn VIAt
ThNt
.sktr.M F16
..11141 *me rvat'Ard
aunthit no
of MIlitio haw in unx vre4 oriAight,
-
r%) atutric
IP
has
.1 fLois
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
the
r4i lusursev B•Ank
7.t
tnit
11,4% true :i.lortis
yo-ra-r
$1i,E. tut ot.
Da
aitteareAmatT with Anntructtp
•ota
'!94,,rtk
11-r
Vti
1,"
A.19 0$01r...
At
th.
.s4V
tbt, OVI
itt
)1k,nalcr a
C
fr.44rLkrWfl
t
h
Sou t!to:rn Okio.,:rutrel• bt) trwzo
.
Thev!,
,
th.22*.ty "honks
Dallas
by tab t
'RD
**Ptak Eit
t
t
4,3f
rtf:q1 r!tr,v(
or/ x
77h.4.1wik: •
IN e
in
&riots* r ty.
e
n.P.;
taw
lef
t
•
r
y
t .er
tltL Liins irvo.41.tfttir t:TtAt
igaty- mix wit"!;:n.
k.)
.. 7%t
r
the
f the
k 0414Autri
,
fo,tr
Thle,
In
onkm
tr43orfor rc ti•
,
Thl r
1;J. s
IttsjC;',Ag
Vhe
V1*.
Th.v,re
ho rn 01:147n orta, mete,el
.
intl.m.4.t,byVhq, p
t',74)
1414.1
b
tiri in Ott
Ts ty
th
Vhern
:tesd
we;ki.A. to !.:Jo chlAer44
"X. Ivor
VICtekl
;tic 41 V fri OTT
rattr riiinfalmtr
task' Qf nta
r
eh!Kw nhp.:
ont.c
ric.710. e ,itttn
,
Valu&. lf,
s?
en
VIACrO riVt' COUOtis In Sothurn alarm'
Are
hundred aj,x
riep $30.
• 7.", TV <411 the
rrC9,
hems 4thy,
pot,t1 tk.1
460.1.out
t.htty :Aq.".1!.! nco: kpAdo t,1At 17AN
OtAtt7r, 1141,44.1AIR
Kr*
six
r
r inFri nr,
z1t;IvAl A
f
ntr
iholi
all
oritut :hats; taus Jrtti,SOtilla
skti
t rer of trto
1„:,r Oki
41, 14,:!1.1 ($14 Of 'Ott tiolYtt
3*
ZVI%
soul
thfl'Ozlv;,,botntx (11.
C.r.k
-7 ,q4.
12 1
Roard.
hy
2:11
rntt
:
, 1 `•tht
0)
,el
e 7:16.t
r
;1., p,kA.E.L,.,r,
:
-'!„:,;',"4 7„n• 7.1m isc.tv.t
st.tuv.!eif
4101
ti t
,
mut
f
1. r 101..
t
1
4
c
b,
•
xtr.
"Air, ".
u•
edziAl
e
t
one
e h Arkfp8
t, thi
tyez 'batik*
Vir4i:i, Up( Mkitlitk
.
wt011 .... vittc,
.. 4.7.,1•4.:,.. v0r 1
„
.
•ta.xtr,,i7t.:04 2 - 7,..tt
4
.
,
',..114L 's..1 Pnvit prvtd Lt*a ,,,ITT.Ita 1. x2'
.
0 ;'417 koPta
-
41800
,:.:, 4 P",t ',i, i;WI;, 7„J.:4 -ii
'1411'4 2aiiit,..244:41
.
„.
,;4 .3111:4,1‘p a,41iplj ,
- 41.1'...:. A vrvf, :t.xxljto.0... 1A0s,
,
,
144. 044 A
PeptiOtVAI 4c Unilt.ITAM4 S i R4VJ VV016017X0
IAN; 4?..74 1_r:4 .0 a0V .;..0
,
,
- '4.tvGi;
Vent4 44,4 04Q U'TV404 4424 U4
4
.
14
43. sve4.1tu ,
4q, TTi:
*
WI PA
,
ZI
At *461 :ca a ZI T.:114,- ;iti> 411, qAt.4.. „;;";
.,
'', - 4
-
.
Att'ltt..11tf..a 1;4 e..i. ...,44 4 (11, 11.110.t.0JjTpu T. A At411 0
, alt 4.:. :404:14 1 bscrtn
.
,
i'
411“i , 47 Agi514(23' '
2w1 ,e1
,
ovz4 Q., wog .
i3.1.1
= 7,1u7.4i r„!..f.. ,,iveli Tv.:INHAA
,
u;
1,
,vii, t. 1'14I.,r.t -43
,
uw avo.: Vtri4 ..i:4144 vitc, w vartivvio
, . ,
UT ,rcl:ii iii 1, v., 4; : :.1 jA jx: .....,. 1....) -,::
: 4.
0
;.E,,X:. 1,0 ,/
fo
nttt 15I,4,1iert.
un:H-xtosfli
inf mg
,
0101142 ,
i:VnZ litaUki:4 fhi',
-etirX-V.4,.:7r,i, Tlubi„ LA 4014m0 u4UTA
4144t40 oto 40 siv03141u4 '
..YWA, liX 1. . ?fil4-til, .'no til- ntt IT 1.1
,.
0
:
v
'',dli..ountto
auull 4.3 ,1'W'i:P W44 Mv4 .:‘yi a401 www1x0 tr; gxu -_,A 614- 410
;
)
1
'
1,1,04 .0.X.-i.uAl?,4 palartlUtf 4w lut4 ille4.3a
*1NSIrv14,0 V :i1J-T14p rtwooT40
,
3.:itrviiik ".74t:2 %. :;0 2ip.4 I:, 1:'.7,1,.0,0 :.?,1 Ii V'I, ,'.;.. if 13:i ,4T.• f 174 q r
;
4,,r;!
Ct.
OVIIIU%
44S::,)
':i, 'po...,44dtrear4 4ti. (n WM,;,4(41 4, 11wT11:740
,,
1
W,6,
4:01,oz; o
,
p Ixtt4 44:4,
Uvfn 1.,;.'.ttn?
,
ialiA:;112
-14U4 ' ,.,,, U 3; '71“,i,..,„ , I- 7.4,
;,, .',,
.U1.•;“.t.. - ...,: '$; a c4 VINVII.
q ,.. --:*,k
A,113.1. :
4
7
oq rt -v ,
44 sngz
2.ifyz-.T., ',.,,.t; p;;;„, 2T4,111 .
e
::
4tAti
2u ;:
T 14::-;
q.,C';! .,.)-c;
,
4 lk.
*( tLi;„ R'4.44,r ow,
s..
liz,a ;4.;. 'ti,.4.0.4V
4%01;It Xdr,:t-s- CC.:. ..:- ••,',
. ;
..)IC. T .::i '74:;4'
,
4
7.
SOU 4;,;
U.7,,itit Vt1 t,1.-,-_!".
4
-
U.-1;i, 1. 40"tri, J.
4.
•q,111.0ISI VI:.:".t il %;•..x.r;
,
1.
7
tp.tu. li7.1-vo;: 1111 uI
4 olit 4, ,!ito 4:4.'tit.;, lint..4. p344.4,44 6a To Vqi,MA17 YO .Rt.t. DUI) tX '‘.
, ,
i
4 OAV14
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
istlikAiro
Dollar thola4 J, t
coo fwir zhnet fnaittul_n etonglAnt.
hvvQvt.7, th.1
,
4
huiti.e“nrumrlatv 1;).Jsk .1;m1.-tttf.
baer7.10* of my own gtz4to 4341 my k:e.in
it pltealt
,
Thtt :Indictment,
,
10.44,rd, -fiql*Ortoit TALIAPI oNmnot provitil t bi
T)AllAo lt
ot
ror
ThIn
ototoiblAMhtion
xr
rb+t1
e not
f bkr IY;!v;:hma.
among :;*%1 11 ITehrell.
!
,lwA;,
srlto,11.
ilv that
'e4vh
zvt,
400r of
atk tIv!• fInviction of
, .11Ton1 11
6
perre,trallad it W40
110
eanr;
and hln rtapl*
71(41 41h.nno
at yt,ur hf4,11,Ag
m luet for
12
bartvfitmcrfloode bA
r
iva,
Orandmi
,
1.yltody was taker1 fJ•40.rw t.:!Itet PP:notrfa
nay* J./m:1 hlt
,
ir
of ta'mse
thar6for t mutt neetlitArlly
# amo;hirr*- oif thw f:iicaattirtg .510111tnnm etno
4$
t
tin C4figellttet.
I NM Un-
tr4011 mn ,Yffitinaolt
117 WiiMs nor :.1.12r- (11.1Z,1101
I t *ost
Ihy i 1,0,2 nor Tt;ste °It/44mq
t7
1 1 Nq4k#A 1, y ttle Org4111,;
afttlon t'r!fl'Atttfti.
*Atv
1)41,Avvolli ittAt *Awl 9!ontlimmes
hATA, imoriflen.4 tte
flitr 1 homc 134
an.; hio
1.t,q.c1
01131 rdbattrItt t0 thit llincuact of
Elnaur s 'q3,
111,
ti
No(Ird.ctou 11141.
ELE.;:::In1.0 In th3$
vftlye t VA ruct
rAm.naor
the m'Wqon
bat. •t
Wa..1-
'V.
a
I
bialcAr
Oklahma City
n4z
th,4t *4 ou
:
aroll4A
•
k,4
4,W I
bondA.
if, ht:71\r/
eonviot T4tqcf :17r.ftlpic of your 1011:2*0 ?All the
of Cur3'8no,)/
goilitsim t acting i
In 1ocnIng %]et
Th1ft AT1,.!grit,
svu
tttt.tLComuittemo4 anted
for US
• rial.'.11;"sit,
,4
014.
111VIk
tt
TXNPU
1:41
•
sAW”VTOTZ "47:2 IIWAXnt 4.10-1
tIi44 qa
,,:14TO 4111
4 va7
,:31g4J',4 114:d,%1 ,Iqk
41140;
,,
4111A040.110.4
°U
v ,
tuy..14
..; ef
k
TYAT/7 rIX r1W V;1 1f0
4
, .
7
45!T
.4r,;1
Jn
1;0
,
TTJA-4 PA;;:::Avc44,0
4
1
tr;40-1J::';''' UNal:16‘
plz2
,
;
04yk;wwil
,
0 044 ,:t) tvyv“ 11.
0%
titarr.iroa
MU .pvtil
UQN'z44.
Sturm
041
:t:4_
ar,
tturw -f-
11
TT.E
n3414;•i AWAVI
;
u;
UT Li pist004
AW.w. 411;
4.,;.131v11
1.:Vr ,
ArYt4
;j4un
.
*.4a4auu44
itrtnactmff.
nli
W1,6,
11410.110.4
olvA,op
4T
1
tUVW
o4t,t0 V
wv,11:
;
T,' r4o„
,
.44alits
94ztli: 444 A 1,10ftir
sJ. troiiww; 14 X7,
,,
TWL6
$ ILL114,,At
31Ai. 4111
,;1014VU. wp.„;.;
UU
d tst*.mq.
Utof ;,411.1Lvt)
J;v4 ficoTtya
'Wo
i,ate
%;„,411A
lit044Al
011.4
0
'4. 0t
so4144. tolo4vv,11
AtOris
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
$47,
1
mg.400vm
smousA 44,4 torii-4
WWITITNO 4
Tet WOrlOd
irevtopTeurio tvc
41g-Tra
tt, imp
4.1iAz;.41: 0;11:
-
!oltriAtitle xcra
Aiv,Lvsuot6 rAcii„ odLii4tog vTtvla
; 0:
1
1
sumliong liti!1;
4410 *4411auq. vut;.0
4,!0-4TT(i
z
Ti 1.414:,
At-c ,kint ttojn, 4.“3=111.n
114 1 ,006
40
"ottitrica
it4tivq, F4,47*
V.440; *i 14164310
otolamet VT* tqc..
*Tx veT4,
1111 14
JT
Vg4
PADT:VA, AVIVAtitpin
IIN 14v. 44,11 vu, ;5u1w1.141
tipTv 40 opwiAmact A%.
Ott -
141;7w:
,
4
;1.01t0i,<",01141;
*oumwt
td10/7,0 60/0t1
ul;;;41.. vv tv,74101ir
43
lw
;0 SPJMOP4 i40.4
uo
i'vt
uo
)
:
4i 0 SOO y
.'04'.4644a,
151:44avA
*ToluvlipTIT
410 W."!
T!';uo,141
.Ul VoY qtV411441A,
4
,xe our, woh);!:
tv.2.
ui A,,nt
olv a" #A. TJ.k.41)..„4. ;4•Xtial
OillU%
44'.4
puu
;Z4,7i:d;04 J:110.
141t
rmzuwa
TT4
volm
1m1
44.
401111,
2144)..v4a u Al„
•4,';444 11.4-h,L vt.
,
.31ifii", q, 41,141M%' VII'V 3
4 31:4U
•
•
•
•
t;
; .u.n?
1117%.
41,1V44i7q,
4
çjth$11.:4
•
•
04 4% ArviafAuIJP
4424 14 ,
Ak
A 41.
ti„zi -1711'4,0'
64-0
Mt%
içu4744, p4;oaarloo wu
,e,
owo,z,vol PUt723voq
o
TvIm. ivka. 714%11,11:.1.f.
.t1tAn
f
itiVrt Arunot4PA 1*. •
4n.% 2 7-1 4Pli".*
u11:
U* I
^
MIA
C
I
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
eir
irhit
rUc1Jy,
orvsoo..,
7110 c. !:
(
f.t ar1101,41
=.:....0140 f4
f•
.17;f•A:I.,;.);1,A,••
*),ne
p.
r ;3
pr3pri;.-has
lit ezri
Act
Obletak ''':;;11. 1. Q11
,
7,1
V "Art,
tht
Tt
vlio4.ret•
'offitur...rit
%htt, tr5,ge-ar, 0.1!
714:".
:o.rnoot
,
•11:.:;;,,, a xi,
,
Ileset,t._ Act, .9t,ifty
1:•k:4n-j4::: that
fltrly;.q.110:..ritteci wit!
?flayfl 3ti•1.bele has"
,
P 1"4 blt•fil$ 41;:i1;11Pri.),rt4;
.
t Act ;1.9,ek.
1.r
•e
tht41t
btAtItting a rtab:t*,, lubtltArc,1.7.t.),
et
nu?
t:irs
t4 P
t
A
.
6
1 4,:1invi
t_.4{/
1.
)1;Zi; 411
.
t:11•1.
ttit dl,2-% r
t
by
3.1.1 OP,tP aIteltwea.
tArqtko your
t
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ot.v. In .i.,
!01
1.
Y'?At tt
not tt'l ol'i.anaos its i.,.,:r4s11:71t.
to •11,t ritz
tloi C
I!. $2`
. ,
t
r tz tr:EV, of
ut
t
t
if
of thtt batik et
1161..z•
Ibvapee'tft.111,:i
• 311.771-".
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
@FedFRASER