The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
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Federal Reserve Bank of St. Louis
122.5-8 - Louisiana Appeal
(Part 2)
Boundaries of FRDistricts
Form AO
I(•
• TELEGRAM
FEDERAL RESERVE BOARD
4,r(c
WASHINGTON
::1.11 La
1D16,
4
Encisiky •
"re,.:wrta Letatrve
, ozais•
cur tolecr,m t„Intii.,httvo applicuAloca
uisitratot(:ka for trtnertT bum comnictod and forwrded
to 3oEra
a31ntw,t
OFFICIAL BUSINESS
GOVERNMENT RATES
CHARGE FEDERAL FIEsERvE 130ARD
for FRASER
Digitized
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ccrotz.r:T.
41kreas
partment
Collect
4P0 770 23
Govt
TELEGRAM
....
10EDERAL RE3ERVE
BO1RD FILE
L..,
F.L.
DALLAS Texas April 18 1.916
Federal Reserve Board
7Tasliington
1+0:/IL
Yours date applications Louisiana banks for transfer received
yesterday and approved and returned Atlanta same date
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10 V
EA:„
Ramsey, Agent
1201pm
4pg
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1916.
Rotolr, tesr.6.
//,/
Form 40
• TELEGRAM
lb
10-ERAL RESERVE BOARD
FILE
FEDERAL. RESERVE BOARD
WAS H IN GTO N
Ar11 1,:..$40116
V. re Z. littrinvA
Vaderal r:zosortre Agonto
Dalla'a, Texas*
Applioniions Louisiana txtnks for trartefor
Mit not1
j
---
bn roceiveci.
/
trultstant .:ooretary.
OFFICIAL BUSINESS
GOVERNMENT RATES
CHARGE FEDERAL RESERVE BOARD
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
Ilreasurg
10P0 7 19 Collect Govt
pepartment
2.
TELEGRAM
DALLAS Texas April 10 191
Federal Reserve Board
Washington
Please wire when all applications Louisiana banks for
transfer
have been approved
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Federal Reserve Bank of St. Louis
Ramsey, Agent
119pm
Ps:),
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
REY.:RVE BOARD FILI
COMPTROLLER OF THE
CliFi-R-E-N-C7-"""*"-"""""`"•-•••.-.-4.--4
WASHINGTON
::.arch 27, 1916.
Lear air. Secret:J*3r:—
I have your letter of the
__-----------24th instantonclosing copy of an
orr
entered by the Faderal Reserve Board,
at
mLeting held on Lia.:1:h 6, 1916,
making certain
readjustments of the seogrerhical limits of
Federal Reserve ristricts Nos. 6
ana 11, and
have placed it on file.
Sincerely,
Hon. Sherman Allen,
Assistant Secretary„
Federal Reserve 'Bo4sd
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
.."1\1
27',37
\r:
•
1
E
`:,.,'''‘)NO
s,
Lnrch E4, i916*
The Comptroller of to Cur
lenoy,
Troaeur7 Buildinr, Wr.shint
on,
D. C.
DeEr Mr* Comptroller:1A
meetinc of the Federl Pcserve
Board on ::=.rch 6, 1916, an orde
r wu..s entered mC4inc certain readjustments of the f;oo
raphic4.,- 1 limits of Fedeml
Eeserve Districts ros. 6 ntd
114 rd Oirectinc thr:t
of the said order he filed with
you in order that the certificate of the Reserve Bank
Orcanizetion Cornittee may be
properly amended*
A copy of the order is v.cc
ordint;ly Leroy/1th encloserA.
Very truly yours,
Assietant Secretary*
Euclos.lre.
0
TTS
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
fi
March 20, 1916.
Dear Sir:
Your letter of l',1arch C 1.,nclosiir conies
of form ?otter and arplication for trunsfr!r of stock
sent to banks in Louisiana trozasfeirred fro:1 tbe
i:aevunth t
t'nci 3iXth DistrIet, is roceived.
This letter has been laid before the Federal
Reserve Board, and tit: forms aa.pi,:;ar to cover t'rle purpose iLtlicated.
Rostoctful37,
Secretory.
M. 3. Vrollanrn,
Chairman, Board of Directors,
!,oderal :Theory° 3: of AtlExta,„
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Federal Reserve Bank of St. Louis
•
March 10, 1916.
o. 453
7EDEPAL 1.2SEMTE BOARD
1.g.11ORAND1J1.
For iabc Counsel:—
UrA3r tice reDAlat]onz of the Board the
follordn
refrred to you.=
yElcaratxxxx.prixxxx
laximac.
Letter from F. R. A. Wellborn, Atlanta,
dated March 8th, enclosing forms to be used
in connection with trie transfer of tie La.
banks.
Please advise if these meet with your
approval.
Please return this lemormlu. to thf-J Sccr-tary nth copy of docurrnts reoultinE from action
taen, if any, that it may be placed. on t
donot.
DIRECTORS
OFFICERS
EDW.T. BROWN,
M.B.WELLBORN,
ATLANTA ,GA.
CHAIRMAN OF THE BOARD.
F.W. FOOTE ,
H AT TI ESBURG,MISS.
EDW.T. BROWN,
FEDERAL RESERVE BANK
DEPUTY-CHAIRMAN
UOS.A.McI CORD,
GOVERNOR
w.H.HARTFORD,
NASHVILLE,TENN
L.P.HILLYER,
MACON,GA
W.H.KETTIG.
W.H.TOOL E,
BIRMINGHAM,ALA.
SECRETARY
OF ATLANTA.
,
l.M.SLATTERY,
DEPUTY- SECRETARY.
.A.M
CRA BY,
DECATUR, GA.
P.H.SAUNDERS,
NEW ORLEANS , LA.
W.H.TOOLE,
CASHIER.
WINDER, GA.
M.W.BELL,
:larch 8, 1916
ASSMCASHIER.
Sir:Referring to your letter of Feby L8, relative
to transfer of certain Louisiana banks from the 71eventh
to the Sixth District; I inclose herewith copies of
form letter and application for transfer of stock, which
will be sent to the. banks in question.
I have followed the plan outlined in the July
"Bulletin", in the transfer of banks from the Fifth to
the I'ourth District, with the exception of changes made
in paragraph six (C) of the letter to be sent to the
banks.
Respectfully,
I.
.L.c 'Chairman of the Board,and
Federal Reserve Lgent
Mr. K. Parker Willis; Secy:,
Federal Reserve Board,
7asnington, D. C.
inc
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Federal Reserve Bank of St. Louis
M.B.WELLBORN,
AN NISTON,ALA.
fo
DIRECTORS
OFFIC CBS
EDW.T. BROWN,
WELL B OR N,
ATLANTA,GA.
CHAIRMAN OF THE BOARD.
EDW.T. BRO WN,
DEPU
Y- CHAIR MAN.
uos.A.Mc C ORD,
GOVERNOR.
F.W. FOOTE ,
H AT TIESBURG,MISS.
FEDERAL RESERVE BANK
W.H.HARTFORD,
NAS HV IL LE,TENN
L.P.H ILLY ER,
MACON,GA.
W.H.KETTIG,
W.H.TO 0L E,
BIRMINGHAM,AL A.
SECRETARY.
%J. M S LATTERY,
DEPU TV-SECRETARY.
OF ATLANTA.
DECATUR, GA.
P.H.SAUNDERS.
NEVV OR LEANS , LA.
U.B.PIKE,
W.H.TOOLE,
CASHIER.
vviNDER, GA.
M.B.VVELLBORN,
M.W. B ELL
AN NISTON,ALA.
ASST.CAS HIER.
SIR:
Upon review of the decision of the Reserve Bank Organization Committee the Federal Reserve Board has entered an order effective from April 1, 1916, readjusting Districts Nos. 6 and
11—as a result of which your bank will after that date, be ineligible to hold stock in the Federal
Reserve Bank of Dallas, but will be eligible to membership in the Federal Reserve Bank of Atlanta. In order to comply with the terms of the order referred to, you are requested to have your
board of directors adopt, before April 1, the inclosed resolutions covering surrender of your
stock in the Federal Reserve Bank of DALLAS and application for stock in the Federal Reserve
Bank of ATLANTA. Two copies of the resolution are inclosed so that you may have a duplicate
tor youf files.
For convenience the necessary operations have been arranged in the following order:
(i) Adopt the resolutions above referred to and send certified copy to the Federal Reserve
Bank of Atlanta.
(2) Send to the Federal Reserve Bank of Atlanta, with a certified copy of the resolutions, all
receipts issued and sent to you for payments made by you on account of your subscription to the
capital stock of the Federal Reserve Bank of Dallas.
(3) Execute and send to the Federal Reserve Bank of Atlanta the necessary order authorizing the Federal Reserve Bank of Dallas to remit to the Federal Reserve Bank of Atlanta, on
your behalf, the net amount hereinbefore paid by you on account of your subscription to the
capital stock of the Federal Reserve Bank of Dallas. This payment will be applied by the Federal
Reserve Bank of Atlanta on your subscription to the capital stock of said bank. Upon receipt of
this payment the Federal Reserve Bank of Atlanta will execute and forward to you its temporary receipt for the amount so paid.
(4) At the close of business on March 31, 1916, for the purpose of transferring reserve
balance from the Federal Reserve Bank of Dallas to the Federal Reserve Bank of Atlanta, please
send to the Federal Reserve Bank of Atlanta for your credit draft on the Federal Reserve Bank
of Dallas for the balance as shown on your books.
(5) Please fill out Treasury Department Form B-2149, prescribing method of calculation of
reserve as at the close of business March 31, 1916, and send it to the Federal Reserve Bank of
Atlanta. The Federal Reserve Bank of Dallas will send statement o_ your account at the close of
business March 31, 1916, and will reconcile it in the usual manner.
(6) Inasmuch as the 6 per cent. dividend provided for by the statute is cumulative,such
nmount as may be due the banks transferred from the 11th District to the 6th District up to April
1st, 1916, shall be adjusted by a ruling of the Federal Reserve Board.
Kindly note that all of the above papers are to be sent to the Federal Reserve Bank of
Atlanta.
Respectfully,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
FEDERAL RESERVE BANK OF DALLAS,
By
, Governor.
FEDERAL RESERVE BANK OF ATLANTA,
By
, Governor.
orizing the transfer of
ral Powers of the FEDERAL RESERVE BOARD
NOTE:--Readjustment under the
certain (Lou iana) banks from the Eleventh District to the Sixth istrict.
District No. 6:
No. of Shares
Charter No.
APPLICATION FOR TRANSFER OF STOCK
TO THE
FEDERAL RESERVE BANK OF ATLANTA
of
At a meeting of the board of directors of the
day of
, 1916, the following resolululy called and held on the
ion was offered and duly adopted:
shares of the capital stock of the Federal
"Whereas, this bank has subscribed to
Reserve Bank of Dallas, pursuant to a resolution adopted by its board of directors on
, 1914, in accordane with the provisions of the Act of Congress approved
day of
December 23, 1913, and known as the Federal Reserve Act, has paid on account thereof in in, said sum being 50 per cent, of the par value of said
stallments the sum of $
shares.
"And Whereas, according to the certificate filed April 2, 1914, by the Reserve Bank Association Committee with the Comptroller of the Currency, designating the several Federal reserve
cities and defining the geographical limits of the districts to be respectively served by the Federal reserve banks located in said cities, this Association was at that time located in District No.
11, which district is served by the Federal Reserve Bank of Dallas;
"And Whereas, the Federal Reserve Board, under authority granted to it by Section 2 of the
said Federal Reserve Act, has by resolution, adopted February 25, 1916, ordered that Federal Reserve District No. 6 shall be modified and extended so as to include on and after April 1, 1916,
all that part of the State of Louisiana south of the parishes of Vernon, Rapides, Avoyelles,
which said parishes have heretofore been- included in Federal Reserve District No. 11;
in the State
"And Whereas, this Association is located in the parish of
of Louisiana, said parish being one of the parishes transferred by said resolution and order
from District No. 11, to District No. 6: Now, therefore, be it—
"Resolved, That the President or Vice-President and Cashier of this Association be, and they
are, hereby authorized, empowered, and directeed to make application to the said Federal Reshares of stock heretofore allotted to
serve Bank of Dallas for the cancellation of said
this bank and for the refund of all payments made thereon; and be it further—
"Resolved, That the President or Vice-President and Cashier of this Association be, and
they hereby are, authorized, empowered, and directed to make application for and to subscribe to
shares of the par value of $100.00 each of the capital stock of the Federal Reserve
Bank of Atlanta, to pay for such stock in accordance with the provisions of the said Federal
Reserve Act, and to take any other action necessary or desirable to the accomplishment of the
said readjustment."
i hereby certify that the foregoing is a true and correct copy of a resolution passed by the
board of directors of this Association on the date specified.
Cashier.
, of
Pursuant to the foregoing resolution, the
,
shares of stock of the Federal Reserve
hereby makes application for the cancellation of
Bank of Dallas heretofore allotted to it, and for the refund of such, cash payments as this bank may
be entitled to under the provisions of Section 5 of the Federal Reserve Act.
hereby subscribes to
Pursuant to foregoing resolution, the
shares of the capital stock of the Federal Reserve Bank
and makes application for
, and agree to pay
of Atlanta of the par value of $100.00 each, amounting to $
for same in accordance with the provisions of the Federal Reserve Act.
of
By
(SEAL)
, Cashier.
Attest:
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Secretary Federal Reserve Board, Washington, D. C.
, President.
110
We,the undersigned, hereby certify that this bank has an unimpaired capital of $
, as shown by its books at the close of business on the
and surplus of $
, 1916.
day of
LOCATION OF APPLYING BANK.
(To be signed by three or more directors)
City or town
Parish
State
Directors.
CERTIFICATE OF FEDERAL RESERVE AGENT.
The foregoing application for the surrender of stock in the Federal Reserve Bank of Dallas
has been examined and the statement of the number of shares allotted to the applying bank has
been verified. I recommend that
shares of stock be accepted for cancellation, and that
the cash subscription already paid for this surrendered stock be returned.
_-
-
,
Federal Reserve Agent,
Federal Reserve Bank of Dallas.
CERTIFICATE OF FEDERAL RESERVE AGENT:
The foregoing application for
shares of stock .in the Federal Reserve Bank of
Atlanta has been examined and checked. The amount of stock appliefi for is equal to 6 per cent.
of the capital and surplus of the applying bank as shown by cgrtified statement of directors.
I recommend that
shares of stock be allotted to it by the Federal Reserve Board.
Federal Reserve Agent,
Federal Reserve Bank of Atlanta.
CERTIFICATE OF APPRO,VAL
The foregoing application for the surrender of
shares of stock in the Federal
Reserve Bank of Dallas, and for -the allotment of
,
shares of stock in the Federal
Reserve Bank of Atlanta, has been approved by the Federal Reserve Board.
Secretary, Federal Reserve Board.
RECORD OF ENTRY.
The foregoing application has been duly entered on the records of the Federal Reserve Board.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bookkeeper.
,191
( Form of Letter to be used by Member Banks
withdrawing from District No. 11.)
This Form to be copied on your own letter heads and forwarded to FEDERAL RESERVE BANK OF ATLANTA
1916.
Federal Reserve Bank,
Dallas, Texas
Dear Sirs:
In accordance with the resolution of the Federal Reserve Board, dated
February 25, 1916, transferring this bank from District No. 11 to District No. 6.
and with the resolution of the Board of Directors of this bank dated
1916, this bank has applied for cancellation of its
shares of stock of the
Federal Reserve Bank of Dallas, and has applied for
shares of stock of the
Federal Reserve Bank of Atlanta.
To facilitate these transactions, you are hereby authorized and requested to pay to the Federal Reserve Bank of Atlanta on account of our subscription to
the capital stock of that bank, $
us on account of our subscription to
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
, representing the net amount paid by
shares of your capital stock.
(Bank)
President, or
Cashier.
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Federal Reserve Bank of St. Louis
FEDERAL RESERVE BANK
OF DALLAS
March 6, 1916.
Federal Reserve Board,
Washington, D. C.
Gentlemen:
I beg to acknowledge receipt of yours
of the 29th
this morning.
which was only received by me
I note the action of the Federal
Reserve. Board touching the Louisiana banks, and have
taken immediate steps to give proper notice, and
furnish member banks with necessary forms to make
the change.
It will be agreeable to us to make the
transfer April let, and we will be governed accordingly.
Respectfully,
k67
Federal Reserve Agent.
13)
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•••••••••••••••••••••••
•
1;ASD FftE
I.
(1
cZr:77irin tc(Adc/raaleg
,44g;,6;eeg
Larch 6th/1916
2;7•
G. HardIng, Esq.,
?ederal Reserve Board,
Washington, D.
Dear Mr. Harding:I have your 12..ttez1,4 inn')
and note the final decision of the Board wz7.s in accordance
with the suggestion made in your letter of.
This, I know, is a great disappointment to some of our
friends in North Louisiana.
Mr. Robertsof Lake Charl(,s, has written
me to know When the transfer. is likely to be made, and he
trusts it will be before the 1st Df April, as he hopes to
have the conversion of his State Bans into National Banks
by that time.
Yours very/-tr-ny,
(-)
/: •
- Pre sident
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
410ERRAL
At a stated meeting of the Federal
Reserve Board, duly held at its office
in the city of Washington, District
of Columbia, March 6 , 1916.
1
PRESENT:
Mr.
Mr.
Mr.
Mr.
Mr.
Mr.
Hamlin, Governor,
Delano, Vice Governor,
Miller,
Harding,
Warburg,
Williams.
In the Matter of Readjust- :
:
ing the Geographical Limits
of
:
Districts Nos. 6 and 11 in uc- :
cordance with the power vested :
:
in the Federal Reserve Board
Federal
of
the
Re-:
by Section 2
serve Act.
ORDER ArEEDIFG THE GEOGRAPHICAL LIMITS OF DISTRICTS NOS. 6 AND 11.
WHEREAS, the Federal Reserve Board is authorized and
empowered by Section 2 of the Federal Reserve Act to readjust the Federal reserve districts; and
WHEREAS, upon consideration of
(a) the petition of certain banks in Louisiana for the
transfer from District No. 11 to District No. 6 of
all that part of Louisiana then situate in District
No. 11;
(b) the printed briefs and exhibits filed by Counsel,
it appears to the Federal Reserve Board that the convenience and customary course of business and the best interests of the Federal Reserve System will be served by a
readjustment of the geographical limits of Districts Nos.
6 and 11;
NOW, THEREFORE, the Federal Reserve Board dcth order -
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
3-6-16
#2
(1) That District No. 11 be readjusted and altered so
as to include the state of Texas; all that part of
New Mexico not included in District No. 10; the counties of Pima, Graham, Greenlee, Cochise, and Santa
Cruz, all situate in the state of Arizona; the counties of Marshall, Bryan, Choctaw, Pushmataha, Mccurtain, Johnson, Atoka, and Coal, all situate in
the state of Oklahoma; and all that part of Louisiana situate north of the northern boundaries of the
parishes of Vernon, Rapides and Avoyelles.
(2) That District No. 6 be readjusted and extended so
as to include the states of Florida, Georgia, and
Alabama; all that part of the state of Tennessee
not included in District No. 8; all that part of
the state of Mississippi not included in District
No. 8; and all that part of the state of Louisiana
south of the northern boundaries of the parishes
of Vernon, Rapides and Avoyolles.
(3) That the alterations in Districts Nos. 6 and 11 directed in this order become effective April 1, 1916.
(4) That the Federal Reserve Banks of Atlanta and Dallas be notified of the changes made in the districts
referred to and directed to take such action as may
be necessary for the transfer of membership of the
banks included in the territory affected.
(5) That a copy of this order be filed with the Comptroller of the Currency in order that the certificate
of the Reserve Bank Organization Committee may be
properly amended.
Governor.
Attest:
Secretary.
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Federal Reserve Bank of St. Louis
raIRAL EfSIITc: NA-Af FILE
oro'"
•
\‘.
•
March 6, 1916.
My dear sir:
Your lettori. addressed to lionorabifi
Governor of the Federal Reserve Board, has been con2id ere,
.
by the -i}oard, %nd I am directed to say that thc.:t .3card re•..;rets to advise you that it seans impossible to reconcile
ti
1.A6hes of your bank v.Tith the e.4iressed desiro of t i- r banks
in nortnern Latisiana.
In that part of tie
pre-
)- ondera,t Inv; opinion amonr, other bas, ascertained after very
careful iwiAry, wa
in 1::....vor of runaining in th ,-2 Dallas
District, arxi the board rt.iacied the conclusion that
ranglIrent should be made
ul hes of tx
ba iliC.i11g
this artt...e
aa
l•-v
the one most corriucive to the'
CO uumanity•
RotTrotting that it seems impossib19 to coraply v:ith
:.•!-Ie -ashes you have ex!xessed in this letter, I am
Very truly yours,
ear,
..<Luorous, Prosid.ert
llatIonal Bark of linruveport,
Shroveniirt,
C
ary •
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
S
60104,::
FEDERAL
1
FEDERAL RESERVE BOARD
wer000googoosoomoreoprosrvii
MELIOENDULI 1001-, Dii. dILLIS:
att7- Zr4i6C,
Mr. Harding has written Mr. J. H. Fulton,
President Commercial National Bank, New Orleans,
La. to the effect that he has requested you to
send him a copy of the Dallas brief in the
matter of transfer of certain banks from the
Dallas to the Atlanta district, -- provided
an extra one is available.
R. R. B.
3/4/16.
......................."...."••••1
•-..........,.......-.....
\
March 4, 1916-
L r. J. H. Pulton,
President Commercial National Bank,
New Orleans, La.
Dear Zr. 2
- 0ton:Rep1:7in
to your letter of the gild inAtantlI would state
.
,
that I have requested the Secretary of the Eoard
to send you
a copy of the brief of the Dallas 'Iank if he has
one in addition that is kept Ln the official files.
I assume however,
that the matter has now lost its interest as the
Board has
rendered its decree transferrinR all banks South of
the North
line of Vernon, 1,
.apides and Avoyelles Parishes to the Nev
Orleans Branch of the Federal Reserve Bank of Atlan
ta.
It is
impossible Lo bring about any more favorable adjustment
for ypu.
Very truly
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Afr
ours,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-
March 4, 1916.
Andrew Querbrs, a.sq., President,
First National Bank of 3hroveport,
Shroveliort, La.
dear Sir:
I beg to acknowledco your
letter of March lot
and will call
it at once to the attention of the
Feaeral Reserve Board.
Believe me,
Very truly yours,
tzittlea) u
aagalin,
Governor.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-11 C4
No.424-
March 4, 1916.
7FDDR1L RESERVE BOA
RD
lEMORANDUll.
For
Li'.
Harding:
Und6t the regvlatio
ns of the Board the
following matter is
referred to you as
Chairman, Coranittee on Ope
ration of F. R. Banks.
, Letter from First
National Bank of Shreve
port, Louisiana, dated
March 1st, relative to
the transfer of cer
tain Louisiana banks to
the
New Orleans Branch
of the F. R. Bank of Atl
anta.
Secretary.
Please return this mem
orandum to the Secretary with copy of doc
uments resulting from act
ion
taken, if any, that it
may be placed on the doc
ket.
R E
e
_C-tyt
f
-ate.1-4-te'C
A R K S .
P)(
ge;
I 4
".
let
eCe ,,e et •
op
•,e1
•
OFF I
fr
e
DIRECTORS
RS
A.R. BUSH.
W. J. DAVIS$
.7
A
1,17,..'--
NEW 01=d4ANIBRANCH
R. N. SAUN
CHAI
MA IROU
A
FEDERAL RESERVE BANKOF
O. G
ATLANTA.
,
,
K S0
WEAWL KOERpL.E ANS. LAMARCUS
SOL WE XI:TRw,
JAS E
NEW ORLEANS,LA.
ZUNTS,
NEW ORLEANS,LA.
.
(SIXTH FEDERAL RESERVE DISTRICT.)
NEW ORLEANS,L A.
March
Third
1916.
Li'. H. Parker Willis, Secretary,
Federal 'Reserve Board,
\,ashington, D.C.
Dear Sir:--
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
We have y'Jur letter of the :,J3th ult.
enclosing
copy of resolution covering transfer of certain of the Louisiana
Banks from the Eleventh District to the Sixth District.
Also
copy of the Board's letter addressed to the Chairman of the Board
of Directors, Federal Reserv
Bank at Dallas, both of which have
been noted by us.
Yours very truly,
l
1. •
larAGING DIRECTOR
MISS.
\
eee1147
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
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.
,a&mqiega/iii
.
-9/c/ree6ederred,
March 2nd/1916
Hon rable 77.2.G. larding,
Federal Reserve Board,
Washington, D. C.
Dear :Ir. Harding:I have your
11XLZ,XcLE,Q,1?ruary aid note that you will subthit additional presentior the matter as mentioned in our letter of the
.1.5..tAto the Federal Reserve Board for action.
Would you be kind enough to send
us a copy of the Dallas Bank's brief, as requested in
my interview with you when in Washington?
Yolr a ver,sf--luly,
tr
''residen t.
DIRECTORS
OFFICERS
EDw.T. BROWN,
M.B.WELLBORN,
ATLANTA GA.
CHAIRMAN OFTHE BOARD.
F. W.FOOTE ,
HAT TIESBURG,MISS.
EDW.T. BROWN,
DEPUTY-CHAIRMAN.
00S. A.MS CORD,
GOVERNOR.
FEDERAL RESERVE BANK
W.H.HARTFORD,
NASHVILLE,TENN
L.P.H I LLYER,
MACON,GA.
W.H.KETTIG,
W.H.TOOL E,
BIRMINGHAM,ALA.
SECRETARY
J.A.Mc CRARY,
OF ATLANTA.
.J.M.SLATTERY
DEPUTY-SECRETARY.
DECATUR, GA.
P.H.SAuNDERS,
NEW ORLEANS ,LA.
W.H.TO OLE,
CASHIER.
WINDER, GA.
Larch 2,1916
M.W.B
BE
ASST.CASHIER.
M.B.WE LLBORN ,
AN NISTON,ALA.
Sir:Replying to ITOUT letter of Febz_22,1it will be
entirely agreeable to us that the transfer of Louisiana
banks from the Pleventh District to the Sixth District,
be made effective as of April 1, 1916.
I ampreparing the necessary resolutions, etc.,
to be forwarded said banks, the transfer to be made
effective on date stated.
Respectfully,
Federal Reserve Agent.
Mr. H. Parker 7illis:Secy.,
Federal Reserve Board
Washington, D.C.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I'.,
1916
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ANDREW QUERBES, PRESIDENT
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6E0. JOHNSON, A=
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W. J. BAYERSDORFFER, ACTIVE VICE-PRES.
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W. T. CRAWFORD, V-PRESIDENT
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CAPITAL
$500,000.00
SURPLUS
$200,000.00
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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477,0NitifittsiOft'S OFFer
March-1st-1016,
Fon. Chariee S. Hamlin,
Governor Federal Reserve Bank,
rashingtor,
P.C.
Dear
17Te 13arn through tha public r- ,rints "That
.,cf the Parishes of Vernon, Rapides and
all of Louisiana
rvoyelleS, will remain in the .Eleventh Reserve ri strict, ard that
the rertaining part of the Stat,.-; of Louisiana now in the Fleventh
District is transferred to the sixth Felaral District and the banks
therein allotted to the New Or17ans branch of the Federal Reserve
Park of Atlanta".
This boing, a fact, our bank will rem,
?.in attached
to the Federal Reserve Bank at Dallas, although we earnestly
deei red
to be traneferred to the New Orleans brarch of the Federal .70serve
Bank of Atlanta for good and sufficient reP.sons.
The natural trend of a large proportion of our
bus-Ines: i.
towards New Orleans and not to Pallas, as evidenced by
the an,ourt of items handled by us durinc the p:tst year, 1915, viz:New Orl _are,
Pallas)
256.33
3,466,34e.49
notwithstanding the fact thl.t we joined the Reserve
7ollection
busiress as possible.
.7.e to give the
Inter-
Reserve Bank as much
ANDREW QUERBES, PRESIDENT
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W. J. BAYERSDORFFER, ACTIVE VICE-PRES.
W. T. CRAWFORD, V-PRESIDENT
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CAPITAL
$500,000.00
SURPLUS
$200,000.00
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Cecondly, our experience for the past t146nty
years or more is that with the exception of four months in the year,
front the fir,t of F,eptember to the first of January, we could not
tranufer funds out of Texas to any other point outside of their
State only by paying a premium for the exchange,
During the past
month it became necessary at various times for um to transfer our
excess reserve, exceeding hundreds of tl-cusands of dollars in Dallas
to New York, and in every instance we were compelled to pay either
350 or 400 per thousand dollars premium for the exchange, whereas the
rate in New Orleans was either at par or at a discount, consequently
entailing upon us an expense to which we would not have been subject
had wo 'L)or attached
to the Atlanta district.
Our geographical location and transrortetion lin2s,
:4.rd facilities for obtainng currel cy and speedy communication comilired
with the larzr comparative proportion of oJr business as stated make it
desirable p.rd advantageous to Uhl to be affiliated with the bLch Federal
Fank at New Orleans.
For year
past this section has done the gr3ator part
of its banking and mercantile business through the City of New Orleans,
whereas .r'.no the same time it 1174$ done only a negligible amount through
Dallas.
The public press in commenting upon the proposed
change states - "One of the directors df the Dallas Eoard is intera,tJd
•
A-J/6 ,ffien,ffzi-d.,/t?ke.e0oW ff/
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ANDRE* QUERBES, PRESIDENT
W. J. BAYERSDORFFER, ACTIVE VICE-PRES.
W. T. CRAWFORD, V-PRESIDENT
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dEO. JOHNSON, ASST. CAS,t_ILER
WM. WINTER, V-PResor.
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CAPITAL
$500,000.00
SURPLUS
$200,000 oo
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
IT] a Shreveport bank and it is understood to have bean 3.1ze to
his opposition that Val,. change ;'as not r.ada
aLc, ar:
ro'catly
owing to hi& efforts th-tt some of the Louiana bi.i.nks will reli.ain
under the jurisdiction of T'allato".
IVe t‘incerely hope that you
eb‘nd
the other members
of th3 13oard of the Federal Reserve Bank ,,,4 11 give thi• further con—
eideration, and that you will take favorable
cti.on upon our applica—
i or.
Respectfully yourL.,
o
President.
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4
vE,;111FER
LiNv.) FILE
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Ly dear Scvornor:
I eeclose aith this a memorandum preeared relatine to the banks in the
11th _3 strict in Louisiana which desired to be transferred from the 11th to
the 6th ristrict, and those which lid not desire to be so transferred,
It appears that the sentiment among the 26 banks in this District --s
almost evenly divided: 14 benks desired tc be transferred and 12 did not
want to be transferred.
The resources of the banks which desired to be transferred were
$14,408,000, and the resources of the banks which did not -eant to be transferred were $12,598,000. The Ecard, however, has transferred from District 11
to District 6, 16 banks, leaving 10 in the District as originally composed,
the resources of the 16 banks transferred being,$11,110,0C, and of the 10
/banks which were not transferred, 0.5,896,000.,
In the section of the State trensferred to the Atlanta District there
were altoeether 16 banks.
Of these 16 banks 11,with $1,627,000 of capital, surplus and prcfits
and $8,400,000 resources, desired to be transferred; and 5 banks, with
$820,Cr0 cepital, surplus and profits end $2,600,000 resources, did not dewill.
sire to be transferred, but were transferred, it appears, against their
transtoleing
objected
which
It is interestine to note that the banks
1915, were
ferred but were transferred, in their statements of tecember 31,
comerolities
for
receipts
warehouse
lending considerably more money secured by
e
in
accordanc
ed
transferr
were
(other than cotton) than the 11 banks which
either
in
large
not
were
character
with their vote, although the loans of this
compared with
case - 1.80,000 with the benks which objected to transfer, as
transferred.
were
and
ed
transferr
$11,000 by the tanks which wanted to be
to lo business
continue
to
desired
It also appears that the banks which
had been
which
tanks
very
the
were
with Dellas rather than with New Orleans
judge
to
able
well
therifor2
were
and
doing the most business w h Dallas,
being
was
siness
114-bu
an
served
well
as t weether or not they were being
were
banks
5
Theee
trade.
cf
course
conducted with due regard to custoleary
which
banks
11
the
whereas
Lank,
Reserve
borrowing $139,422 from the Federal
desired to be transferred were only borrowing ‘''i4,023.
banks
The statistics do not support Mr. Herding's argument that these
of
their
because
n
connectio
Orleans
which were transferred needed the New
shows that the production of
rice and sugar business. The attached table
in which were located the banks
sugar, by the census of 1910, in the counties
tons of sugar cane, as compared
which objected to the transfer was 1,045,000
counties in which were located the 11
with 921,000 tcns only produced in the
banks which asked for transfer.
were located the 5 banks
The figures also show thet the counties in which
in 1909, 7,241,000 bushels of rice,
which objected to the transfer produced
banks which desired the transfer only
whereas the counties containine the 11
produced 5,715,000 bushels of rice. These figures as to rice and sugar are
obtained by adding toeether the production shown by the census fcr the dife with their vote
ferent counties in which the banks transferred in accordanc
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
2
and those transferred against their vote, respectively, are located. There
,
/two banks located in the same/ounty voted one in favor of and one against
/ transfer, the production for that county is included in the production Shown
both for counts in which are located banks voting in favor of, and banks
voting against transfer.
Are.:,ng the banks transferred from Dallas to New Orleans are the bank at
DeRidder, which is 309 miles from Dalies, but 262 miles from New Orland and
753 miles from Atlanta. Two banks transferred, at Lake Charles, are 347 miles
from Dallas and 712 miles from Atlanta and 219 miles from New Orleexi. The
nearest ':ark to New Orleans was the :organ City bank, el miles distant, but
this, bank was 396 !Ales from Dallas and yet voted against being transferred
away from DFllas. The First National Bank of Crc7iley, which is, as I understand it, in the very heart of the rice district, objected to being transferred from Dallas to New Orleans, but was mode to move ont
One of the banks in Nei Iberia, which was the next nerest bank to New
/Orleans, aftse the Morgan City bank, beim: 107 miles from Now Orleans, as
opposed to 37 from Dallas, also objected to bein tied up to New OrleFns,
a1thou71 two other banks in the same town voted for the change.
inceraly yours,
Hcn. C. C. Hamlin,
Gcvorncr, Feciers1 Reserve Board.
RDLITIV:
TRANSFYR OF LOUISIANA BANKS FROI,: DISTRICT NO. 11 TO DISTRICT
NO, 6.
:To
7thich wanted to be transferred
and WERE transferred,
of banks.
11
Banks which wanted to be transferred
but were NOT transferred,
•
Banks which did not want to be transferred
but TFRE transferred,
Rediscounts with
Federal Reserve Bask.
,
;
c4 4,023.
Production of counties in which
banks located (Census of 1910).
Tons of sugar cane. 2ushe1s of Rice.
5,715,932
921,953
1,285,105
5,911,992
11,435.
C.
6,350
343,395
820,083
2,613,872
80,768.
139,422.
1,045,488
7,241,941
1 597 540
° 984k 256
30,819.
2C,30
26
5,330,118
27,006,963
157,447
16
2,447,473
11,110,615
5
Banks which did not --iant to be transferred
ani were NOT transferred,
Louisiana banks heretofore in District No. 11,
Capital, surplus and
Total
undivided profits. Resources.
$1,627.390
$8,496,743
Loans secured by warehouse
receipts for commodities
other than cotton.
11,666
174,364
1,994,156
13,301,318
92,434
143,445.
1,430,881
8,075,146
la,e0.5 249
75,013
3Q,319
Z4,439
343 395
RECAPITULATION.
Banks transferred from District No. 11 to District No. 6,
Banks heretofore in District No. 11 and retained in
that District,
26
5,330,118
27,306,863
167,447
174,264
1,455,320
8,418,541
Banks which wanted to be transferred,
14
2,912,495
14,408,735
23,101
4;721
928,303
6,059,377
Banks which did NOT want to be transferred,
12
2.417.623
12,598 128
144.3
,1.70 241
1,065 853
7,241.941
36
5,930,118
27,006,063
167,447
174,264
1,994,156
13,301,318
DISTRICT TRANSFERRIT.
Banks desiring transfer,
11
4 !%-.A_k
BITUAWPri"d ,
4
04-4_2”..144.1qatiek. 'of
Atf4XL°64-4 *Askil--1\ kite*
tWnfttin " ransfarreu,
Totls for District Transferred,
"
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http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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t-tv Ii 419-vJ1, 41t.4•J c62,/,‘Lii to 4-R
1,627,390
72.)-)1
820,383
2,447,473
8,496,743 ,
( 43-2,tti-ef
2,613,872
11,110,615
80,768
4,023
)
139 422
l,^45 488
92,434
143,445
1,967,441
11,666
)
921,953
5,715,962
311.3,"0
7,241.941
12,957,923
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7obruarj 29-, 1916,
My dear Sir:
I have the honor to inform you that the 'Federal
eserve
Board on February 25 adopted ithri, follo-c,irc, resolutions
IMOLVTD, That all of Louisiana north of the pariLikles of Vernon, Rapides, ktnd Avoyelles remain in the
Kleventh Federal Reserve Xistrict,
thu remain:It:4T ;-:!art of tima S.tut. of Louisiana now in tho Eleventh
District be transferred to tho LA.1:th Federal Reserve
.A.strict, avid the banke therein allotted to the New Orleans Branch of the Federal 1-Zeserve Bank of ,..tlalta."
Accordingly the following banks, now mentors of the oleveath Federal reserve district ani owninf; stock in the ?oderal Reserve Bank of Dallas, will be transferred to the sixth Federal reserve district, sad will take out a corresponding amount of stock in
(“,
the Pedoral Reserve Bank of Atlanta. ;Those banks will be classed
as belonging to thc territory assilned to tle Nev. Orleans t_Iranch of
tho Federal Reserve Bank of 41t1anta,
I
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BANK
First National
Abbeville
First National
Alexandria
First National
Jeaneret te
First National
Lafayett e
Calcasieu national
Lake Charles
First National
Lake Charles
Peoples National
New Iberia
\
The list is as follows:
OAi,ITAL
SURPLUS
50,000
$ 50,000
100,000
200,000
50,000
50,000
100,000
100,000
150,000
50,000
100,000
40,000
100,000
20,000
3tate National
30,000
100,000
New Iberia
Opelousas National
50,000
50,000
Opelousas
Planters National
15,000
50,000
Opelousas
First I;ational
25,000
Ville Platte
First N4tional Beyik of Arcadia Parish at Crowley
12,500
50,000
Crowley
First Illations'
7,000
25,000
De Ridder
First National
6,000
30,000
Eunice
First National
50,000
50,000
Morgan City
Now Iberia at tonal
500,000
50,000
Now Iberia
The qtlestion of transfers of capital stock firm the ?ederal
2eserve
) to the lederal Reserve naak of ,,tlan a will require
ank of Da1111.
your attention, an
it is suoted that you follow in this matter the
same procedure whidh was laid down by the Board in effecting the transfer
of the banks of West Virginia from the fifth to the fourth Federal reserve
district some nine months tl.o*
I enclose a
COpy
of the 7edera1 neserve
Bulletin for July on page 142 of Which you will find the details of the pro—
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
cess fully set forth.
iou ahould note in communicating with member banks
that this proceeding in i4 rcarijustment under the Board's teneral power, and
not a review on appeal*
The Board will be lad to hear from you with re—
spect to the arrangealen', of any details that msy seem to call for further
ad.ustmente
Would it be aexeeable that the transfer be made effective as
of April 1?
Please notify that the Board may enter its formal order*
Respectfully,
Secretary*
ff
Ransey,
Chairman, Board of Directors,
Federal B.eserve Ilank of ;:allas. ;ItZnalosure.
1
4.,
t;
4
/
.4.• •
.
1.
ij
Febmary
de:
4, 1916.
ir
have the honor to inform you th;.).t tic "Federal
Reserve
Board on February ;.-;5 adopted
Lib
following resolution:
R74i3OLM), gnat all of Louisik.na north of t'ric parishes of Vernon, Itapides, aid ILvoyelleu re!flain in the
leventh Federal Reserve 3.)istrict, and • taut tht• remain
ing, part of to Stan of Loaitbiana now in Vac Y1ov,nth
,.)istr
ict be tm.risterred to tht:i
Reserve
Astrict, 4123.1.1 the Wilke therein allotted to the
1Tew Orleans Branch of the loodera/ 'eserve Bank of Atlant
a."
accordingly the following banks, now moirbers of
the elf:malt:I Podoral reserve district and owning stock in
the .?edertil
serve Bank of i)allas, will be transferred to
the sixth 7oderal reserve district, said will tak.e out a correspoilli
nr; amount of stock in
to :'edoral ]lef.5erve :3ank of Atlan.ta.
These banicc will be classed
as bo lout;inn. to tn.) territorj assiiped to tne New Orlean
s Branch of
the Federal i:osorve Bank of .'itlanta.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
13 &WK
First National
Abbeville
First Mitt °nal
Alexandr Ia
First at lanai
LT eaneret to
First 'National
Lafayett e
Calcasieu National
Lake Charles
First National
Lake Charles
The list is as follows:
CAi ITAL
SURPLUS
50,000
50,000
100,000
200,000
50,000
50,000
100,000
100,000
150,000
50,000
100,000
40,000
100,00
20,000
)
Peoples National
New Iberia
State National
New Iberia
Opoloueas National
Opelousas
Plantere National
Opelousas
Pirst National
Ville Platte
?riot National
Cnowley
First National
De Ridder
First National
Eunice
First National
Morgan Oity
New Iberia National
New Iberia
100,000
20,000
100,000
30,000
50,000
50,000
50,000
15,000
25,000
50,000
12,500
25,000
7,oa0
30,000
6,000
50,000
50,000
50,000
500,000
The question of transfers of capital stock from the Federa
l teservd Baak of Dallas to ths ?ederal Reserve Bark of Atlant
a till require
your attention, and it is suggested that you follow in this
matLer the same
procedure which was laid down by the Board in offeeting tho
transfer of
the banks of 7;est Virginia from the fifth to the fourth
Federal reserve district some nine months ago.
I enclose a copy of the Federal Reserve Bulle-
tin for July on pagvi 142 of which you will find the detail
s of the process
fully set forth.
You should note in oommunicati216. with member banks that
this proceeding is a readjustment under the Board's general power,
and not
a review on appeal.
The Board will be clad to hear from you with respect
to the arrangement of any details that mw seam to call fer furthe
r adjustment.
Would it be azreeable that the transfer be made effective
as of
April 1?
Please notify that the- Board moy enter the formn1 order.
Respectfully,
Mr. ;4. B. Welloorn,
Chairman, Board of Directors,
Federal Reserve Bank of Atlanta.
Enclosure.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Secretary.
Peoplos National
New Iberia
State Nat, Iona'
New Iberia
Opelousas Natimal
Opelousas
Planters National
Opelousas
First National
Ville Platt°
First National
Crowley
st National
De :Udder
Wirst Nati o nal
Eunice
7irst National
'..!organ City
NOVJ Iberia ::,Tati()nal
Iberia
100,000
20,000
100,000
30,000
50,000
50,000
15,000
50,000
45,000
50,000
12,500
;45,000
7,000
30,000
6,000
50,000
W,000
50,000
400,000
The question of transfers of capital stock from the L'edoral Reserve Bank of Dallas to the Federa3. Reserve Bank of Atlanta will
it is suggested that you follow in this
require your attention, an
matter the cam) procedure which was laid down by the Board in effectart4,-1ing the transfer of the banrzs of nertik-errralearreeretry from the t*ird to
the
a,.
I enclose
sassy:id 3ederal resolivo district some nine months ago.
a copy of the Federal Reserve Bulletin for .71).1y on na.-73 142 of which
The Board
you v.111 find t:re dot,&.11 s of the nrocess fully sot forth.
will be ;,:lati to hear /*ran you with respect to
9.rrongeLlaut s
of any
/i
details tint may seem to call for further adjustment.
t,.6014.
/11,
.
, -
Reshectftzlly,
et.
Socretary.
Jr. M. 3. 1,7e.11 born,
Ohairman, Board of L-iroctors,
7ocleral r.eserve Bank of Atlnnt a.
..„
Enclosure.
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,
vit‘t-144
ittAt
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Federal Reserve Bank of St. Louis
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("CI
----EX-OFFICIO MEMBERS
CHARLa S. HAMLIN, GOVERNOR
FREDERIC A. DELANO, VICE GOVERNOR
PAUL U. WARBURG
W. P. G. HARDING
ADOLPH C,MILER
>
WILLIAM G. McADOO
SECRETARY OF THE TREASURY
CHAIRMAN
JOHN SKELTON WILLIAMS
COMPTRC/LLER OF THE
PIAVE W I LLIS, SECRETARY
SHERMIff ALLEN, AssT. SECRETARY
FEDERAL RESERVE BOARD
ADDRESS REPLY TO
WASHINGTON
FEDERAL RF,£,ZWIE BOARD
)>
"
0
LGt
211/iii
My dear Sir:
On February 25 the Federal Reserve Board, acting upon
the petition of certain banks in Louisiana to be transferred fror
the eleventh Federal reserve district (Dallas) to the sixth Federal
reserve district (Atlanta), adopted the following resolution:
"RESOLVED, That all of Louisiana north of the
parishes of Vernon, Rapides and Avoyelles remain in
the Eleventh Federal Reserve District, and that the
remaining part of the State of Louisiana now in the
Eleventh District be transferred to the Sixth Federal
Reserve District, and the banks therein allotted to
the New Orleans Branch of the Federal Reserve Bank of
Atlanta."
I have the honor to inform you that your institution is
one of those thus transferred, and that the matter of effecting this
transfer has been taken up filth the two Federal reserve banks affected,
which will advise
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
you fully concerning the steps to be taken.
Respectfully,
Secretary.
rr-- rrPt;
k
•
PC'
CV- Tir
• •
•
DRAFT OF LETTER TO ALL BANKS AFFECTED BY RESOLUTION ADOPTED
FEBRUAlt 25.
My dear Sir:
On February 25
the Federal ReServe Board, acting upon
the petition of certain banks in Louisiana t
be transferred from
the eleventh Federal reserve district (Dallas)
to the sixth Fed-
eral reserve district (Atlanta), adopted the fbllowing resolution:
"RESOLVED, That all of Louisiana north of the
parishes of Vernon, Rapides and Avoyelles remain in
the Eleventh Federal Reserve District, and. that the
remaining part of the State of Louisiana now in the
Eleventh District be transferred to the Sixth Federal
Reserve District, aril the banks therein allotted to
the New Orleans Branch of the Federal Reserve Bank
of Atlanta.”
I have the honor to inform you that your institution is
one of those thus transferred, ani tiut the matter of effecting
,
1 14fiTi-0
this transfer has been taken up with -itar Federal reserve bariks- dirl:A/'
which will advise you fUlly concerning the steps to be taken.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Respectfilly,
Secretary.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
"
•",
I
February 28, 1916.
Dear Sir:
1n February
b the Federal Reserve 3oard passed
the following resolution:
"RESOLVED, '2hat all of Louisiana north of the
parisb.os of Vernm, Rupicles and ,Woyelles, remain
in tile :::;lev,-zith Federal :::oserve District, and
that
the remaining part of the '.3tate of Louisiana now
in the .i'aevaith District be transferred to the
Sixth
Pod.oral Reserve District, and the banks therei
n
allotted to the New Orleans Branch of the Federa
l
noserve
Bank of Atlanta."
I an enclosing herewith copy of a letter Ithich
has
be.:.n sent to the Federal Reserve Banks of
Dallas and Atlanta
for the purpose of initiating the steps necess
ary to effect
this tram for.
Resixactfully,
t-3ocrotary.
17:r. Marcus B. Walker,
Managing Director, 1;ew Orleans Branch,
Federal Reserve Bank of Atlanta.
1:.13.c1osure.
*:..
•
fLu
FEDERAL RESERVE BOARD.
,„„ FILE
2 0s-g. _i
WAS
MC.ELLIOTT
COUNSEL
February 28, 1916.
Dear 1.r. Willis:
11.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
In reference to the matter of the readjustment of
the sixth and eleventh district lines, it is suggested
that a formal order similar to those issued by the Board
in the matter of the appeals from the decision of the
Organization Committee be drawn up and passed by the
Board, and that a copy be filed with the Comptroller
of the Currency, as contemplated by the Act.
It is further suggested that forms similar to those
adopted by the Board in the matter of the transfer of
Tyler and Wetzel counties,of West Virginia, from the
fifth to the fourth Federal reserve districts be prepared
and forwarded to the Federal Reserve banks of Atlanta
and Dallas, modified to suit the present case. It should
be noted that the present case is one of readjustment
—nd not a. review of the decision of the Reserve Bank Organization Committee.
hespectfully,
Counsel.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
COMPTROLLER OF THE CURRENCY
!'ebruary 26, 1916.
Dear Doctor:
.
Will you be so good as to indicate
on the attached statemeni\pceiVed from
the Board, which banks are in that portion
of the 11th District which at yesterday's
meeting of the Eoard was trRnsferrel to the
6th District?'
Please also send me the names of the
banks concerned which, as I understand it,
expressed no preference for or against
transfer.
Since
ly , urs,
A *
Dr. H. Parker T lis,
Secretary, Federal Reserve board.
FEROBESEME. BOAn V'ILE
NTS
A statement of the capital, surplusl, a,- undivided nrofrt
. s 2P-Li it*
of the Louisla.na Banks in District 11 before the Board for consideration for transfer to t,ie New Orleans Branch of the Foaer:1 he6rve
Bank of Atlanta.
BINFX IN FAVOR .)1.4`
* First rational v7`
bboville
* First NationalK
Alexandria
* First National)
'
Jeanerette
* l'irst, Nationall\
Laayote
* Calcasieu Eationz.'11K
let.1;ce Charles\.
* First National
.Utke
Charles
First National et
Lake Providence
Ouachita National &••
Monroe
* Peoplc:s Nat ional
hew Iberia
* State National P1/4
New Iberia
* Opelousas National
Opelousas
* PL,nters :Tational
OTA;lousas
First National 13c,lo2f
81.roveport
* First 1Taticnal
Vi.le
:1 1.'0711.6
CAPITAL
URP.LUE
50,000
50,000
100,000
20u,000
50,000
50,000
100,000
150,000
100,000
So
.frecr,000
100,000
40,M
50,000
'IPo,
%J 000
200,000
100,000
100,000
20,0,0
100,000
Z:C,OGO
50,000
50,000
50,000
15,000
500,000
L09,000
9'10,000
VOTING AG/s1T.'1 THE
q :v--4,04-o0
a
First National d9
J USIA1
Arcadia
50 1000
Aa c,1,L 14'
* First NationalT:I
j
orit- Crowley, 04-4,t.t.P4), -.1- E0,000
National
:der
,000
* First national °(
Eunice
30,000
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
UNDIVIDED PROFITS
7. /
-)-{
tc18-
• / 2, 6./
/. /
7
hat!
/s- 3_777
8-371
7$'c:
41-
3 r-
25Q
1,625,000
B
HE TRANSFER
/7
12,500
7
U
6,000
ear
anks voting agaihst the T:ransfer (cont'd)
'/1411;IVILI:1) PF,OFIT
PE.1
First 1;ationa1 er
Gibsiand
25,000
Homer National
80,000
Homer
First National
50,000
Linden
4k iirst National
50,000
Y.crcxn City
*New Iberia National'"
50,000
Low Iberia
Jlier,can
150,000
.hreveport
:
Commercial Nationala
500,000
EhreveDort
First liationol
L5,000
Amnfiuld
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
c..OTAL
1,085,000
/1 g
5,000
60,000
1,000
3 Aic 7-7
50,000
500,000
.2-
50,000
500,0k,0
s/
ife-9000
Memorandum
All banks have been heard from before this date as showabove
17Gbrug.Lry 26, 1916.
* Indicates banks transferred, by resolution of the Board
under date of February 25, 1916, from District No. 11 to
District No. 6, and allotted to. the New Orleans Branch of
the Federal Reserve Bank of Atlanta.
g
EX-OFFICIO MEMBERS
•
•
CHARLES S. HAMLIN, GOVERNOR
FREDERIC A. DELANO, VICE GOVERNOR
PAUL M. WARBURG
W. P. G. HARDING
ADOLPH C. MILLER
WILLIAM G. McADOO
SECRETARY OF THE TREASURY
CHAIRMAN
JOHN SKELTON WILLIAMS
COMPTROLLER OF THE CURRENCY
4241 L
H. PARKER WILLIS. SECRETARY
SHERMAN ALLEN. ASST. SECRETARY
FEDERAL RESERVE BOARD
ADDRESS REPLY TO
WASHINGTON
FEDERAL RESERVE BOARD
/199-990SPOWNIT NATIO:AL BANKS IN LOUISIANA DIST. NO. 11.
Abbeville
J. N. Greene
Alexandria
J. A. Bentley
First National Bank/
Arcadia
L. M. Tooke
First National Bank v/
Arcadia Parish at
Crowley
First National Bank
De Ridder—
A. I. Shaw
First National 3ank
Eunice
L. rloyer
First National Bank'
,
Gibsland
A. B. Hortman
I/ First National Bank
I/ First NatioLal Bank
NI
Homer National Bank
Homer 1-
/'/
,̀
/ 44
r
W. L. Trimble
/
v- C. 0. Ferguson
P/First National Bank
Jeanerette
H. Patout
//First National Bank
Lafayette
N. P. Moss
P/Calcasieu National Bank
Lake Charles
H. C. Drew
v/First National Bank
Lake Charles
Geo. Lock
P/First National Ban
Lake 2rovidence J. S. Guehard
'
‘1144Ak
I qg -7;1
1••••
First National Bank
Minden
-VOuachita National Bank
Monroe
T. E. Flournoy__
Morgan City
J. F. Prohaska
e/ ,,,New Iberia National Bank
New Iberia'
,,Jos. A. Breaux
Peoples National Bank
New Iberia'
I L. Kling
State National Bank
New Iberia
First National Bank
wv
411111.1°'
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
p. Wren v
A. 3storge
2
11-v
t.y
JEFICIO MEMBERS
•
•
dILLIAM G. McADOO
SECRETARYSTMETREAsURY
CH REAR
JOHN SKELTON WILLIAMS
COMPTROLLER OF THE CURRENCY
CHARLES S. HAM UN. GOVERNOR
FREDERIC A. DELANO, VICE GOVERNOR
PAUL M. WARBURG'
W. P. G. HARDING
ADOLPH C. MILLER
H. PARKER WILLIS, S- ECRETARY
SHERMAN ALLEN, ASST. SECRETARY
FEDERAL RESERVE BOARD
ADDRESS REPLY TO
WASHINGTON
FEDERAL RESERVE E3OARD
• Opelousas National Bank
Opelousas
E. B. Dubuisson
" Planters National 3ank
Opelousas
Robt. Chachere
/
American National Bariic 17/
Shreveport
S. W. Smith
Commercial Nat Iona' Bank v
Shreveport
3. K. Smith
Shreveport
A. ..,uerbes
qr.
1/ First I:at i onal Bank
First National Bank
V First National Bank
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Ville 2latte
Winnfield
/
- g
...._ ./91/ S.,/
t,A. Corei1
1.1. Li. Fisher -
,
,
February 25, 1916.
MEMORANDUM FOR MR. BRODERICK:-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Will you kindly ask Mr. Imlay to prepare for the
use of the Board the following in connection with the
Louisiana banks whose votes have been considered in
connection with the transfer to the New Orleans Branch
of the Federal Reserve Bank of Atlanta:-
A Statement of the capital, surplus, and undivided profits of those banks voting in favor of
the transfer, voting against it, and the banks not
voting.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Februe.ry 23, 1 916.
lar. J.lton,
i)resident Commercial i,ion1 Bank,
New Orleans, L.
Dear Er. Fulton:I have your letter of the 21st inat
op1,yin,7 to mine of the 16th and rtill
take plecculre in bringing it to the attention o
the :
. oard before the fint1 decision
is made.
Very truly ;;oure,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4IP
4111
Return TODAY to
office of
Mr. Harding.
cj2/ 0,znimweiecia
. az,/7
aiio
t .wafe/I
v a.
L
&(„P6
14ezn4.
Febty. 21st/1916
(Personal)
W. P. G. Harding, Esq.,
Federal Reserve Board,
Washington, D. C.
Dear Ur. Harding:I duly received your letter of
the 16th February regarding the transfer of the
Louisiana Banks from the ELEVENTH to the SIXTH Federal
Reserve District, and showed your letter to some
members of our local Board.
While they realize that
"three-quarters of a loaf is better than no bread
at
all", at the same time, we thought it well to
communicate with so.:ne of the larger Banks in Louisiana
who were quite anxious to become associated
with the
Branch here.
Naturally, we will have to be satisfied
witi the best division we can get, but 11,-)vi your
statement
that the Banks of North Louisiana are pract
ically unanimous in their desire to remain in the
Dallas District
can square itself in the face of the following
telegram
received from the First National Bank, Shrev
eport, today:
ner.lying to your favor 18th,
under no conditions are we willing to
remain attached to the Dallas District,
as it is to the best interests and welfare of our Bank that we should be transferred to the New Orleans Branch of the
Atlanta District",
or the statement from the Ouachita National
Bank, Monroe,
as follows:
Seplying letter 18th, we prefer
to be connected with your City, but will
not stand in the way of your accepting
. compromise offered by Federal Reser
ve
Board to give you lower part of State
n,
or the statement of the First National
Bank, Lake Providence,-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(2)
"We stand by our former declaration
made to you.
We have no reason to change
our original stand".
We did not take the matter up with the 'First
Natiolial Bank of Arcadia, La., )r with the American National
Bank or Commerc:ial National Bank of Shreveport, as they
never signed the application.
Nor did we take it up with
the First National Bank, Gibsland, as it was a small
Bank
and we did not have the time.
Taking out The Commercial
National Bank, Shreveport, it leaves only '3532,!1^0 of capital and suplus in the other Banks which have not asked to
be transferred as against $1,356,000 of capital and surplus
in the three Banks which have reiterated to-day their desire to be attached to the New Orleans Branch.
As our acquiescence in a compromise such as
you suggest would not be fair to these Banks, we would like
to urge the transfer of the whole State to this Branch, but,
naturally, we will have to leave the final disposition of
the matter entirely in the hands of the Board.
From what we can gather, the Vice Governor of
the Dallas Bank appears to have visited every Bank in the
State, wit1 the view of having them rc-consider their decision.
to remain with them, which method we have not adopted.
It
has been suggested that the Board send some independent party
to interview these Banks and ascertain exactly their wishes.
I feel sure that every Bank outside of The Commercial National
Bank, Shreveport, and its close business connections, desire to
be placed with this Branch.
Your very,
Y,
4
;
February 16, 1916.
PERSOILL.
Dear Yr. Fulton:In the matter of the application of certain banks in
Louisiana
for transfer from the eleventh to the sixth Federa
l Leserve district, I wish to say that it -yopears that the banks
of :Torth
Louisiana are prractic11: unanimous in their desire to
remain in
the Dallas district.
Ihile some of them are on record on ooth
sides of the proposition, the Board is convinced that
their real
desire is to remain with .dallas.
I would surpest therefore, that
it would be a good idea for you to make up your mind
that three
quarters of a loaf is better than no bread at all, and
that you
write me stating that under the circumstances you Youlq
be satisfied
with the transfer to New Orleans of all banks in Louis
iana south
of the northern boundary line of Vernon, Ha-rides and ,Toye
lles
Parishes.
This would leave, I think, only ten or eleven banks in
north Louisiana in the Dallas district and would give New
Orleans
all the south half of the state, which includes the sue-ar
and rice
districts and all the territory trilJutary to the :outhern Pacif
ic
_ailroad, out to the f-abine :Aver.
If ;you will advise me that the
New ,,rleans ::)ranch will be satisfied with this settlement,
I think
that the matter can be so arranged without '''urther delay.
Very truly yours,
Yr. J. F. Fulton,
Commercial National Bank,
New Orleans, La.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
This will acknowledge receipt of fifteen
copies cf the brief of the Federal Feservc Bank
of D-11as filed in reply to the brief of the Brunch
Bunk at New Orleans in re the trunsfer of certain
bunks in Louisiana from the eleventh to the sixth
district, and also copies of Jettere referred to
in your communication of February 10, 1916.
Mr. Churles C. Huff, Counsel,
Federal Reserve Bunk,
Dall44, Texas.
FEDERAL RESERVE BANK
OF DALLAS
CHARLES C. HUFF
COUNSEL
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
February 10th, 1916.
Hon. H. Parker Willis,
Secretary, Federal Reserve Board,
Washington, D..
Dear Lir:
I am sending you under separate cover
by express fifteen copies of the brief of tne Federal _leserve Bank of Dallas, in reply to the brief
filed by the Branch Bank at New urleans asking for
a transfer of certain banks in Louisiana from the
I am also sending you
11th to the 6th District.
with the briefs, letters and copies of letters as
follows:
From
First National Bank,
Arcadia, La.
First National Bank
Crowley, La.
do
First National Bank,
De Ridder, La.
do
First National Bank,
Eunice, La.
do
First National bank,
Gibsland, La.
Homer altional Bank,
Homer, La.
First National Bank,
Lake Providence
First National Bank,
1inden, La.
First National Bank,
Morgan City, La.
American Nati Bank,
Shreveport, _Al.
do
do
Commercial i,atl Bank
Shreveport, La.
To
. D. Van Zandt
Date
1/18/16
Federal Reserve Board
R. L. Van andt
1/15/16
1/15/16
R. L. Van Zandt
Federal Reserve .:oard
5/29/15
1/22/16
R. L. Van Zandt
Federal .:-,eserve Board
6/5/15
1/15/16
J.W. Hoopes
1/18/16
J.j. Aoopes
1/18/16
J. o• Hoopes (Telegram)1/24/16
J.
V.4 •
Hoopes
1/18/16
R.
L. Van Zandt
1/17/16
H. Parker .illis
W.P.G.Harding
Copy of minutes
10/15/15
10/15/15
1/18/16
Federal 1-:eserve Board
1/22/16
•
•
H.E.W. ----2
First .Lational Bank,
Winnfield, La.
Red River valley Jank
& Trust Company,
Shreveport, La.
do
2/10/16
Federal 1-.eserve Board
Pred W. Hoopes
Kindly file these letters as a part of the
record in this case.
1(
1 would appreciate it very much if
you will advise me upon receipt of the briefs and
'Papers, so that I may know that they have not miscarried.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours very truly,
CCH-P
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
44, *
January 26, 1916.
The First National Bank,
De Ridder,
Dear Sirs:This will acknowlodge the receipt of
your letter of JaalvIry 22nd nrotasting against
the transfer of the Firct 7ational Bank of De
Riddor from the Federal Reserve Bink of ')allas
to the New Orleans Branch of tha Federal Reserve
Bank of Atlanta.
Your letter will receive consideration
by the Federal Reserve Board.
Very respectfully,
Secretary.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
.i i..
----,
Li7;,‘,, 1. il 4.:.-- -_=. ;:. - i3:1 ."' . erfii .\.i3fi'w H ill
January 2, 1916.
7he Commercial ilational IAank,
Shreveport, La.
'Dear Jirs:This will acknowledge the roceitt of
your letter of January 22nd to the Federal Reserve
-43oard atatlij your views in counsel:ion rit'r, the
petition of certain hational banks in the State of
Louisiana to be attached
o the New Crleats Branch
of the Federal Reserve Bank of Atl&nta.
ghat you say will have the careful oonsideration of the Federal Reserve Board.
Very raspectfully,
'Learetary.
'6)
TOO/
•
J. S. GUENARD. PREST.
Ed.HAMLEY, V- PREST.
•
11.STEIN,CAsmut
KATIE SULLIVAN, ASST. CASH.
•
attottaI tiaitk?D
OF LAKE PROVIDENCE,LA.
LAKE pR OVID ENCE,LA.
January,24th„1916
ko)4°
)<\
itiU)(1/
6
`4'
f 6
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Federal Reserve Board
Washington D C
Gentlemen;.
We have been requested to give your
Board an expression of our relation with the
Federal Reserve Bank of Dallas Texas.
It affords Its much pleasure in stating
that we have been treated at all times with
the greatest consideration and courtesy,promptness
and general satisfaction in all respects from the
Bank and each individual connected
Very truly yours,
Cashier
t42-61,
herewith.
Mr1.11.1.1111
CLASS OF SERVICE
SYMBOL
Day Message
Day Letter
Blue
Night Message
Nite
Night Letter
N L
If none of these three symbols
appears after the check (number of
words)this is a day message. Otherwise its character is indicated by the
symbol appearing after the check.
Form 1201
)!Eltirs
UNIC,N
CLASS OF SERVICE
WESTERN UNION
74
:
1 TEL
GEORGE W. E. ATKINS,
vow,
NEWCOMB CARLTON, PRESIDENT
VICE-PRESIDENT
BELVIDERE BROOKS,
VICE-PRESIDENT
SYMBOL
Day Message
Day Letter
Blue
Night Message
Nite
Night Letter
N L
If none of these three symbols
appears after the check (number of
words this is a day message. Otherwise its character is indicated by the
symbol appearing after the check.
RECEIVED AT
104N0 OW 62NL
iAKEPROVIDENCE LA JAM 24 16
J W HOOPES
VICE GOV FEDERAL
RESERVE BANK DALLAS
COPY OF LETTER BOARD 'ASHINGTON
F DALLAS
PLEASURE IN STATING THAT VJE
V:E HAVE BEEN REQUESTED TO
OF OUR "ELATION V:ITH THE
GIVE YOUR BOARD AN EXPRESSION
FEDERAL RESERVE BANK
TEXAS
Or
AFFORDS US KUjor
HAVE BEEN TREATED AT ALL
TIMES VflTH THE GREATEST CONSIDERATION
AND COURTESY PROMPTNESS AND
GENERAL SATISFACTION IN ALL RESPECTS FROM
CONNECTED H-:.REITH
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
TEXAS
FIRST NATIONAL BANK
910P
THE BANK AND EACH INDIVID,A'
A.I. S H AW,
41104cMAHON ,
PRESIDENT.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
D.E.SHAW.
VICE PRESIENT.
D
K. R.CAGLE,
CASH
ASST CASHIER.
DE RIDDER,LOUISIANA, 1/22
6
2,T2:74irvo Boa.rd,
D. 1.
cr
of th,
infor
that th.) rew - Orins
.„
-f
'
.n.a3 -oc„titio-tf.3
rour nonorablo bod:,r to transfor tho
fr
t1L.2
?,ank of Dallaz tr, toh
- 3:117,h of Atlanta, this
offor prat stRr..lILt
ao we ar
with our cionnotion with tho
vor
wih to
wnll oatiod
13-dnk
of Da1la;s3 ana.do not thinIc it would be to wor best
int..11rst: to
cho,
\
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4 11.14
,
1 01.1%11115 81,
1/22/1G.
(2,,14\Af
The Honorable Federal Reserve i3oard,
.ashincton, D. C.
The question has been brouL.ht to our attention
in
regard to the branch of the Federal Aoserve
3ank at liew Orleans
endeavoring to have lihroveport changed as
a member, from the
Dallas 1
. eserve 3ank to the branch at 'dew Orlons.
bec to state th!,t as far as the Commercial :.4ati
ona1
Jalsk of .Dhreveport is concerned, wo can see
not one single reason
why this change should be made. In the first
place, 6Areveport is
180 miles from Dallas and 325 miles from flev, (,rlea
ns. The mail
service between Dallas and ,:hreveport is far
bettor than that with
urleans. In addition to this, 6hreveport is
quite a commercial
center for the interior banks and has a great
number of accounts
from the interior banics throughout this secti
on, and we think that
3Areveport has as many accounts from -ast 5:exas
as they have in
the Jtate of Loaisiant.
Our relations with the Federal Reserve 3ank
at Dallas
have been ail that could be asIced, and in fact
all business
transadted with them since the organization has
been most satisfactory.
A have discounted a large amount of notes
with them And the manner in
hieh they have been handled has been such that
we would not care to
make a change and to be forced to handle this busine
ss throuh the,
branch at Hew Orleans.
In addition to this there is, in our opinion,
a great
rivalry botwecn tew Orleans and 6hrevenort,
both in a ban;:inc and
commercil way, and we are inclindd to belie
ve that „)hreveport would
not receive the sane treatment at the hands of
the branch of the
Federal aeserve 6ank at liew Orleans as they have
received and will
receive from the Federal Reserve Bank at Dalla
s. It is our sincere
request that, if any change is to be made, that
L;hreveport will be
permitted to remain with the iederal Reserve
dank at Dallas,
Respectfully,
Vice President.
.
pr. „
,
ET'S
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Federal Reserve Bank of St. Louis
January 19, 1916,
J. Leer Lacombe,
Cashier, 2.-"1rst 1tion.1 Bank,
Eunico, La.
YorIt' letter cf Jf.ra.Jr:i 15th
to the petition of certvin ITation.,1
relutivo
nits in thtit
rart of Louirinna 1,i:doh is In t l- e &lovcnth district
to he transferred to tiie I!ew Orleans bmnch of tiiio
rodervl FRnorve 3ri,1-: of Ltlanta,
be‘ n received
T?nti Y.1.11 be so filed Le to receive conuidcn:tion vien
Eat, tter is ter. up.
Eespoctfolly,
istant CoOtetaly.
.•
o
NTS
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Federal Reserve Bank of St. Louis
/
JanuLry 19, 1916.
:r. •. L. rimble,
Prof. first National 3onk of
AcuOin Parrish at
-Cfowley, La.
Your letter of Janucry lLt4, relative to
the petition of oertaLn National. 6anks in that r:art
of Louisiana Nilich ie in tiAl eleventh district to be
transferred to the New Orleiins brz.nch of to Fat en5.4
Peserve 5ank of Atlanta, ht-,s been received
nd will
be se filed c.s to receive consideration won tne nctter
is ta;yen up.
Lespoetfully,
AlwietEnt Eecrettry.
BEFORE THE
FEDERAL RESERVE BOARD
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Federal Reserve Bank of St. Louis
AT WASHINGTON.
In the Matter of APPLICATION TO TRANSFER
CERTAIN BANKS IN LOUISIANA FROM THE
ELEVENTH FEDERAL RESERVE DISTRICT TO THE SIXTH FEDERAL
RESERVE DISTRICT.
BRIEF OF RESPONDENT,
THE FEDERAL RESERVE BANK OF DALLAS.
CHARLES C. HUFF,
Counsel for the Federal Reserve Bank of Dallas.
W. M. Warlick, Law P., 810% Main St., Dallas, Phone M. 4091.
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Federal Reserve Bank of St. Louis
BEFORE THE
FEDERAL RESERVE BOARD
A.T WASHINGTON.
In the Matter of APPLICATION TO TRANSFER
CERTAIN BANKS IN LOUISIANA FROM THE
ELEVENTH FEDERAL RESERVE DISTRICT TO THE SIXTH FEDERAL
RESERVE DISTRICT.
BRIEF OF RESPONDENT,
THE FEDERAL RESERVE BANK OF DALLAS.
To the Honorable Federal Reserve Board:
The respondent, the Federal Reserve Bank of Dallas, was advised that an application had been filed,
either by member banks in Louisiana, or by the New
Orleans Branch Bank of the Federal Reserve Bank for
the Sixth District, and immediately wired your Board
to be furnished with a copy of the petition and brief
so filed. The Secretary of your Board advised that he
was asking the Branch Bank at New Orleans to send
respondent copies of the petition and brief. A copy of
a brief was sent us, but no copy of the petition was
ever sent. We then wired the Secretary of your
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Federal Reserve Bank of St. Louis
4
2
Board, asking him for a copy of the petition sent you
by the member banks in Louisiana, asking for a transfer from the Eleventh District to the Sixth District. We
received no reply to this telegram, but we did receive
a telegram from the Branch Bank in New Orleans, giving us the names of certain banks, but still no copy of
the petition signed by these banks, if they ever signed
a petition, was furnished respondent. The respondent
bank, therefore, is compelled to reply to a brief filed
by the New Orleans Branch Bank of the Federal Reserve
Bank of the Sixth District, without knowing that the
member banks in Louisiana have ever filed any petition,
or what that petition contains.
The member banks of the Eleventh District, situated
in Louisiana, number twenty-six, and are as follows:
List of Member Banks in Louisiana.
Abbeville
First National Bank
Alexandria
First National Bank
Arcadia
First National Bank
Crowley
First National Bank of Arcadia Parish
DeRidder
First National Bank
Eunice
First National Bank
Gibsland
First National Bank
Homer
Homer National Bank
Jean erette
First National Bank
Lafayette
First National Bank
Lake Charles
Calcasieu National Bank
Lake Charles
First National Bank
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Federal Reserve Bank of St. Louis
3
Lake Providence
First National Bank
Minden
First National Bank
Monroe
Ouachita National Bank
Morgan City
First National Bank
New Iberia
New Iberia National Bank
New Iberia
Peoples National Bank
New Iberia
State National Bank
Opelousas
Opelousas National Bank
Opelousas
Planters National Bank
Shreveport
American National Bank
Shreveport
Commercial National Bank
Shreveport
First National Bank
Ville Platte
First National Bank
Winnfield
First National Bank
On August 28, 1914, the Federal Reserve Board
promulgated rules governing procedure in appeals from
the decision of the Reserve Bank Organization Committee. These rules govern: (1) Petitions for change
of designations of Federal Reserve cities, and (2) Petitions for changes in the geographical limits of Federal
Reserve Districts.
Under paragraph 2 with reference to petitions for
changes in the geographical limits of Federal Reserve
Districts, the first requirement is as follows:
"Petitions for a review of the determinations of
the Federal Reserve Districts by the Organization Committee must be signed by duly authorized officers of at
least two-thirds of the member banks in the territory
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Federal Reserve Bank of St. Louis
4
which the petition asks to have taken out of one district and annexed to another."
As stated above, we do not know what the petition,
if there is a petition, asks, because we have never been
furnished with a copy of the petition, but the brief
of the New Orleans Branch Bank asks that all the
banks in Louisiana within the Eleventh Federal Reserve
District be transferred from the Eleventh District to the
Sixth District.
The brief filed by the New Orleans Branch Bank
states that twenty out of the twenty-five banks ask' for
this transfer. The New Orleans Branch Bank must be
in error about this, and the statement thus made must
be "the father to the wish," because out of the twentysix banks in Louisiana within the Eleventh District,
thirteen banks, or one-half of the number, have written
letters either to the Federal Reserve Board Cr the Federal Reserve Bank at Pallas, indicating their desire
to remain in the Eleventh District, rather than to be
transferred to the Sixth District.
As absolute proof of the statement just made, respondent will here insert exact copies of letters from
the member banks referred to, which letters were written either to the Federal Reserve Board, or to this Bank.
On January 18th, Mr. L. M. Tooke, president of
the First National Bank of Arcadia, La., in a letter ad-
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Federal Reserve Bank of St. Louis
5
dressed to Mr. R.
Ti.
Van Zandt, Governor of the Fed-
eral Reserve Bank of Dallas, Texas, says:
"I am again calling your attention to the fact
that we want to remain in the Dallas District; we voted
first for Dallas and have every time anything came up
to remain with Dallas. There are many reasons why
we prefer to remain with you. First, your bank is the
parent bank. Second, E. K. Smith is our Director. Third,
you are Governor and were National Bank Examiner,
and are very familiar with conditions throughout North
Louisiana. Fourth, we have received the best of treatment from our bank and have no reason to even want
to change. Fifth, we have much . better mail service
to Dallas than N. 0., and there are many more reasons
why we should stick. Please do everything to keep
us with Dallas. We don't want to be transferred to
New Orleans or any other district and will never vote
to be removed. We would feel that we could not get
the treatment that we have received with any other bank
everything taken in consideration. Hoping there will
be no change made in the district and that every bank
will remain just as they are, your friend,
L. M. TOOKE, President."
On January 15, 1916, the First National Bank of
Crowley, La., writing to your Board, says:
"We have been informed that there has again been
presented a petition to your Honorable Board to transfer the Louisiana Banks in the Eleventh District, to the
Sixth District, and as a member of the Eleventh District, we wish to say we are perfectly satisfied for
our membership to remain where it is.
"We have received excellent service from Dallas
and are perfectly satisfied, and possibly a change at this
time may not be to the best interest of all concerned.
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Federal Reserve Bank of St. Louis
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"Trusting and believing that you will act to the
best interest of all banks concerned, we are,
Yours very truly,
W. L. TRIMBLE, President."
On the same day, the First National Bank of Crowley,
Louisiana, wrote Mr. R. L. Van Zandt, Governor of the
Federal Reserve Bank of Dallas, Texas, as follows:
"I am in receipt of your favor of the 14th inst. relative to the contemplated transfer of the Louisiana
Banks in your District to the Atlanta District, and in
reply will state I have written the Board at Washington
on this line and have expressed our willingness to remain
with you. In fact, I have made it stronger and state
we would prefer not to have a change at this time.
"When this question was up before I made the
same request that we remain in your District.
"We have had such satisfactory service from your
good institution I would very much regret a change.
"With personal regards to you, I am,
Yours very truly,
W. L. TRIMBLE, President."
On May 29, 1915, the First National Bank of DeRidder, Louisiana, wrote Mr. R. L. Van Zandt, Governor
of the Federal Reserve Bank of Dallas, as follows:
"Replying to your letter of the 26th inst. in regard
to petition to include this portion of Louisiana in the
Atlanta District, beg to advise that this petition was
sent to us some time ago from the Commercial National
Bank, New Orleans, La., and we returned same unsigned,
advising them that we were very well satisfied with
our present connection with the Federal Reserve Bank,
Dallas, Texas.
"Thanking you for past favors and assuring you
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Federal Reserve Bank of St. Louis
7
that we do not wish to be 'divorced' from your good
Yours very truly,
bank, we are,
D. E. SHAW, Cashier."
On January 22, 1916, the First National Bank of
DeRidder, La., wrote your Board as follows:
"We are informed that the New Orleans Branch
of the Federal Reserve Bank of Atlanta has petitioned
your honorable body to transfer the Louisiana banks
from the Federal Reserve Bank of Dallas to the Federal Reserve Bank of Atlanta, this we wish to offer
protest against, as we are very well satisfied with
our connection with the Federal Reserve Bank of Dallas and do not think it would be to our best interest
to make a change."
On June 5, 1915, the First National Bank of Eunice,
La., wrote R. L. Van Zandt, Governor of Federal Reserve Bank, as follows:
"I am in receipt of your letter of the 4th inst. enclosing credit memorandums for the proceeds of notes
discounted with you, aggregating $10,810.60, which were
sent to you in our letter of the 2nd inst.
"While acknowledging receipt of this letter, I can
not refrain from expressing my appreciation for the
prompt and efficient manner in which this matter as well
as others are handled by your institution.
"Your very able letter of May 26th has been received, read and discussed at a board of directors' meeting and our board is in perfect accord with the explanations as contained in the letter.,
"Our Mr. Mayer remembered of having signed the
petition in question without any thought except that
it would be to our advantage to be affiliated with a New
Orleans Federal Bank; however, after thinking the
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Federal Reserve Bank of St. Louis
8
matter over and thoroughly weighing situation, we are
of the opinion that we could not better the situation one
bit, as our various experiences have shown us by practical demonstration that we could have no prompter
service than the splendid service your good bank is
giving.
"With every kind assurance, we beg to remain,
Yours very truly,
J. LEER L NCOMBE, Cashier."
On January 15, 1916, the First National Bank of
Eunice, La., wrote your Board as follows:
"We note with much interest that the question
of changing the banks situated in Louisiana which are
now a part of District No. 11 of Dallas to the District
of Atlanta on account of the fact that New Orleans has
been given a Branch Bank and that an effort is to be
made to have us join the branch at New Orleans.
"In connection with this change we wish to express
an opinion and a request that we be left in the Dallas
District, at least during the organization period.
"We make this request for the reason that it would
certainly be unfair to our Dallas friends to want to divorce after they have done every thing in their power
to assist us.
"We only speak for ourselves, but our mail service
to Dallas is as prompt as to New Orleans and they have
at all times accorded us every accommodation requested
and we do not think it would be fair to them did
we not make this request.
"Thanking you for the consideration, we are."
On January 18, 1916, the First National Bank of Gibsland, La., wrote Mr. J. W. Hoopes, Vice-Governor of
the Federal Reserve Bank of Dallas as follows:
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Federal Reserve Bank of St. Louis
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"Replying to your telegram of today relative to remaining with your good bank at Dallas, will say, we
wrote the Board at Washington some time ago, stating
that we were satisfied and perfectly willing to remain
with the Dallas Bank.
"Trustirg this letter will be of some benefit to you,
with kind regards, I am,
Yours very truly,
L. W. BAKER, Cashier."
On January 18th, the Homer National Bank, of Homer, La., wrote Mr. J. W. Hoopes, Vice-Governor of
the Federal Reserve Bank of Dallas, as follows:
"In answer to your telegram dated January 18th,
which read as follows:
"'Please forward us today copy of letter Federal
Reserve Board, Washington, in which you indicated
your willingness to remain in the Eleventh District.'
"Beg to advise that the blank forwarded us by the
Federal Reserve Board at Washington, to be used for
that purpose was properly executed and returned to
them, same having expressed our willingness to remain
in the Eleventh District.
"Our connection with the Federal Reserve Bank at
Dallas has been very pleasant indeed, and we have no
desire whatever to sever our connection with the Eleventh District.
"Trusting the above is the information desired, and
with the highest of regard, I remain,
Yours very truly,
C. 0. FERGUSON, President."
On January 24, 1916, the First National Bank of
Lake Providence, La., wired Mr. J. W. Hoopes, Vice-
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Federal Reserve Bank of St. Louis
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Governor of the Federal Reserve Bank of Dallas, as
follows:
"Copy of letter Board Washington. We have been
requested to give your Board an expression of our relation with the Federal Reserve Bank of Dallas, Texas.
It affords us much pleasure in stating that we have
been treated at all times with the greatest consideration and courtesy, promptness and general satisfaction,
in all respects, from the bank and each individual connected therewith.
FIRST NATIONAL BANK."
On January 18th, the First National Bank of Minden,
La., wrote Mr. J. W. Hoopes, Vice-Governor of the
Federal Reserve Bank of Dallas, as follows:
"I beg to acknowledge receipt of your telegram of
even date, and beg to confirm our wire in answer to
same as follows:
"'Have no copy of letter, indicated our willingness
to remain in Eleventh District on form of letter sent
us from Federal Reserve Board, Washington, said letter was signed by me and forwarded to Washington
under date tenth ultimo.
"We failed to keep copy of letter; but the information stated above was taken from our minute book and
reads in part as follows: 'It is our preference to remain
in the Eleventh District (Dallas) instead of being
transferred to the New Orleans Branch of the Sixth
District.' This is under date of December 10, 1915.
"If there is any further information desired, kindly
Yours very truly,
call upon us.
ARTHUR F. DUPUY, Cashier."
On January 17th, the First National Bank of Morgan
City, La., wrote Mr. R. L. Van Zandt, Governor of the
Federal Reserve Bank of Dallas, as follows:
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Federal Reserve Bank of St. Louis
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"This is to acknowledge receipt of your favor of
15th inst. concerning petition of the Federal Reserve
Board of the New Orleans Branch.
"On October 20, 1915, our board of directors authorized. me to write the Federal Reserve Board at Washington, D. C., and state that this bank did not desire to
change to the New Orleans Branch. This letter was
sent in response to the inquiry from Washington.
"We have not yet changed our minds in the matter
and you are at liberty to use this letter in so informing
the Board at Washington.
Yours very truly,
K. R. HOOD, Cashier."
On October 15, 1915, the American National Bank
of Shreveport, La., wrote the Hon. H. Parker Willis,
Secretary of the Federal Reserve Board, as follows:
"Replying to your favor of the 8th inst. we enclose
herewith the request of Board of Directors that the
Federal Reserve Board not make any change, and we
preferring to remain connected with the Dallas Federal
Reserve Bank.
"We believe that our business would be a great
deal more facilitated by holding membership in the
Eleventh District, rather than in the Sixth, by reason
of the short distance and the fact that Shreveport and
Louisiana have been represented on the Board of Directors of the Dallas Board, and that they are now familiar with the business, and have handled the same
to our entire satisfaction.
"We would regret very much being moved, although
we feel kindly toward New Orleans."
On the same date the American National Bank of
Shreveport, La., wrote the Hon. W. P. G. Harding, a
member of your Board, as follows:
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Federal Reserve Bank of St. Louis
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"We would regret very much being moved from the
Eleventh District to the Sixth. The Federal Reserve
Bank, at Dallas, has handled our business in a satisfactory manner. We have had a Director on the Board,
from our city, Mr. E. K. Smith.
"The Dallas Bank has gained knowledge of the business, familiarizing themselves with the people of the
section of Louisiana belonging to the Eleventh District,
and have rendered, as far as we know, every assistance
that they possibly could under their rules. We do not
believe that there has been a complaint against the Dallas Bank, and we feel that we would be better served,
under the existing circumstances, by remaining in the
Eleventh District.
"We are not fighting New Orleans, and do not
wish them to feel hard against us.
"I sincerely trust that you will use your influence
to have Shreveport, at least, retained as at present."
On January 18, 1916, the American National Bank of
Shreveport, La., furnished to the Federal Reserve Bank
of Dallas, a copy of the minutes of the meeting of their
Board of Directors, held on Tuesday, October 12, 1915,
reading as follows:
"Extract from minutes of a regular meeting of directors of American National Bank of Shreveport, Louisiana,.held at the bank Tuesday, October 12, 1915:
"'Resolved: That it is the opinion of the board that
it will be better to retain our connection with the Federal Reserve Bank of Dallas in District Eleven, and
the cashier is instructed to communicate the preference
to Federal Reserve Board at Washington.'
"I certify that the above is a true extract from the
minutes of the meeting of directors of American National
Bank, held Oct. 12, 1915.
M. A. McCUTCHEN, Cash. & Sec'y."
Jan. 18, 1916.
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On January 22, 1916, the Commercial National Bank
of Shreveport, La., wrote the Federal Reserve Board at
Washington, as follows:
"The question has been brought to our attention in
regard to the branch of the Federal Reserve Bank at
New Orleans endeavoring to have Shreveport changed
as a member from the Dallas Reserve Bank to the
Branch at New Orleans.
"We beg to state that as far as the Commercial
National Bank of Shreveport is concerned, we can see
not one single reason why this change should be made.
In the first place, Shreveport i 180 miles from Dallas,
and 325 miles from New Orleans. The mail service
between Dallas and Shreveport is far better than that
with New Orleans. In addition to this Shreveport is
quite a commercial center for the interior banks and
has a great number of accounts from the interior banks
throughout this section, and we think that Shreveport
has as many accounts from East Texas as they have in
the State of Louisiana.
"Our relations with the Federal Reserve Bank at
Dallas have been all that could be asked, and in fact,
all business transacted with them since the organization,
has been most satisfactory. We have discounted a
large amount of notes with them and the manner in
which they have been handled has been such that we
would not care to make a change and to be forced to
handle this business through the Branch at New Orleans.
"In addition to this there is, in our opinion, a great
rivalry between New Orleans and Shreveport, both in
a banking and commercial way, and we are inclined
to believe that Shreveport would not receive the same
treatment at the hands of the branch of the Federal
Reserve Bank at New Orleans as they have received and
will receive from the Federal Reserve Bank at Dallas.
It is our sincere request that, if any change is to be
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Federal Reserve Bank of St. Louis
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made, that Shreveport will be permitted to remain with
the Federal Reserve Bank at Dallas.
Respectfully,
N. KAHN, Vice-President."
On January 13th, the First National Bank of Winnfield, La., wrote the Federal Reserve Board at Washington, as follows:
"Some time since we signified our willingness to be
transferred from Dallas Federal Reserve District to
New Orleans, La., District. But upon more thorough investigation of the conditions, etc., we have reconsidered
the matter and have decided that we much prefer to
remain with the Dallas Bank, and will thank you for
any consideration you may give us in this regard.
Yours very truly,
M. M. FISHER, President."
In addition to the above letters, we are informed in
confidence by another member that it has written your
Board, expressing a desire to remain in the Eleventh
District, with the Dallas Federal Reserve Bank.
There is being organized in Shreveport a bank of
Five hundred thousand dollars capital, by the stockholders of the Red River Valley Bank & Trust Company.
On Jan. 12, 1915, the directors agreed upon for this
new bank authorized the president and cashier selected
by them to represent the new bank, to write the Hon.
W. P. G. Harding, a member of your Board, at Washington, as follows:
"The stockholders of the Red River Valley Bank
& Trust Company of this city contemplate the liquida-
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15
tion of this bank and the organization of a new National bank here, with a capital stock of not less than Four
hundred thousand dollars. The establishment of this
bank is assured. Its stock subscription list is nearly
complete and we are nearly ready to apply for articles
of association and to perfect the other details necessary
to a permanent organization.
"As we expect shortly to enter the National system
of banks, we naturally feel a very keen interest in the
question of redistricting the territory of the Federal
Reserve Districts. Permit us therefore to express our
views on this point in so far as we may be affected by
any change. We will very much prefer to be attached to
the Dallas Reserve Bank than to be under the jurisdiction of the New Orleans Branch of the Atlanta Reserve Bank, and we sincerely trust that no action will
he taken by your Honorable Body, the effect of which
would he to divorce this section of Louisiana from the
Eleventh Federal Reserve District or the Federal Reserve Bank of Dallas.
"This matter has been fully discussed with Colonel
J. B. Ardis, who will be president of the new bank here,
and he is thoroughly in accord with the sentiment herein
expressed. We believe that we are also expressing the
desires of a large majority of those who will be directors
of our new National Bank."
On January 12th, the cashier of the Red River Valley
Bank & Trust Company, who will be cashier of the new
bank, wrote Mr. J. W. Hoopes, Vice-Governor of the
Federal Reserve Bank of Dallas, as follows:
"Enclosed herewith, I beg to hand you carbon copy
of a letter signed by Mr. Jordan and myself, which I
am this day forwarding to the Hon. W. P. G. Harding,
of the Federal Reserve Board, at Washington, D. C.
"Hoping that this letter will have some weight on
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Federal Reserve Bank of St. Louis
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the Federal Reserve Board, and with kindest personal
regards from Mr. Jordan and myself, I beg to remain,
Yours respectfully,
WM. L. YOUNG, Cashier."
In this connection, we wish to call the attention of
the Board to the fact that out of the twenty-six banks
in the Eleventh District which are situated in Louisiana,
we have set out copies of letters or telegrams from
twelve, stating that they desire to be permitted to remain in the Eleventh Federal Reserve District. We
have an assurance that one other has written your
Board, asking to remain in the Eleventh District, and
in addition, we have an expression from the organizers
of the new bank at Shreveport asking that Shreveport
be allowed to remain in the Eleventh District; so, out
of a possible twenty-seven member banks in Louisiana,
fourteen have already definitely decided and expressed
the desire, to remain in the Eleventh District with the
Dallas Federal Reserve Bank, rather than to be transferred to the Sixth District.
On the second page of the brief of the Branch Bank
at New Orleans, is found the statement that twenty
out of the twenty-five banks, of their own volition, have
come forward and asked to be transferred to the New
Orleans District. If twenty member banks in Louisiana
have ever expressed themselves as desiring to be transferred to the New Orleans District, it is quite evident
from the letters above shown that at least seven of those
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banks, upon further investigation and consideration
of the matter, have changed their minds as to what
District would suit them best and now desire to remain
in the Eleventh District and to remain a member of the
Dallas Federal Reserve Bank.
If the Board adheres to its ruling promulgated on
August 28, 1914, and requires at least two-thirds of the
member banks in the territory sought to be transferred
to sign a petition asking for such transfer, then it will only
be necessary for the Board to consider the expressions
from the thirteen member banks set out above, and it
will see that its requirement of August 28, 1914, with
reference to petitions of this character, has not been
complied with, and therefore, the request of the branch
bank of New Orleans would necessarily have to be declined.
The statement is made in the brief of the New Orleans Branch Bank that twenty out of the twenty-five
banks, of their own volition, have come forward and
asked to be transferred to New Orleans. It may be well
for the Board to consider at this juncture, the correctness of the statement that any of these banks of their
own volition took any action whatever in the matter.
On May 29, 1915, the First National Bank of Lake
Providence; La., which bank, by the way, has already
advised your Board that it now desires to remain in
the Eleventh District rather than to be transferred to
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Federal Reserve Bank of St. Louis
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the Sixth District, wrote Mr. R. L. Van Zandt, Governor of the Federal Reserve Bank of Dallas, as follows:
"This petition reached me through Mr. J. H. Fulton,
president of the Commercial National Bank of New Orleans, La., with request that we sign same and return
to him, which we did.
"Our signature was attached purely to be obliging
Mr. Fulton, our friend and head of our correspondent
bank of New Orleans, and entirely without any feeling
or special interest whatsoever. Our relations with the
Dallas institution which you so worthily head, have
been entirely agreeable and harmonious in all respects,
and we are entirely pleased with our present connection
in every way."
On May 29th, the First National Bank of Alexandria, La., wrote Mr. R. L. Van Zandt, Governor of
the Federal Reserve Bank of Dallas, in part as follows:
"I permitted myself to be persuaded by Mr. Fulton,
president of the Commercial National Bank, to sign the
petition that you refer to in your letter."
On January 18th, the Ouachita National Bank of
Monroe, La., in writing Mr. J. W. Hoopes, Vice-Governor of the Federal Reserve Bank of Dallas, said in part:
"When asked by you the direct question if I had
any objection to remaining in the Dallas District, I
stated frankly, and now state, from a personal standpoint, No, I have no objection, as I am well pleased
with the treatment North Louisiana received at the
hands of our Texas friends in permitting us to name
one of the members of the Board of Directors, Mr. E.
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Federal Reserve Bank of St. Louis
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K. Smith of the Commercial National Bank of Shreveport. Had we applied to the Federal Reserve Bank of
Dallas for any accommodation or opened up any business connection with them, I am sure we would have
been shown every courtesy, and we have no cause from
that standpoint to desire a change. So far, however,
we have had no business dealings with your bank, and
therefore, from a standpoint of business connection, it
is a matter of no importance to us whatever with what
District we might be connected."
These expressions from banks which the New Orleans bankers persuaded to sign the petition, are given
for the purpose of showing to your Board that any action
taken with reference to this proposed transfer was taken
upon the initiative of the New Orleans bankers, which
city would, of course, profit by the establishment of a
branch bank and by its success.
The bankers at New Orleans were not only moved in
instigating this contest by State pride and city pride,
but they had a financial reason as well. On page 123 of
the Federal Reserve Bulletin of July 1915, is found this
statement.
"Incidentally, it may be mentioned that the banks
comprising the New Orleans Clearing House Association
have undertaken to make good for the first year of operation, any difference between the expenses of conducting the new branch bank now proposed and the revenues
to be derived from it."
It is, of course, natural to assume that the members
of the New Orleans Clearing House Association were
moved by patriotic feelings of state pride and city pride;
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Federal Reserve Bank of St. Louis
20
and by the financial reason that if the branch bank at
New Orleans did not make expenses for the first year,
the New Orleans banks comprising the New Orleans
Clearing House Association were obligated to make
good the deficit.
In this connection, respondent would state that if
petitions instigated by rival cities are to be given serious
consideration by your Board, it will be impossible to
establish permanent lines for any District, because rival
cities desiring Branch Banks will always be willing and
able to go among the bankers of their acquaintance and
seek to institute contests for removals of portions of
territory from one District to another.
Respondent respectfully states that, from a careful
investigation made by it in Louisiana, it is convinced
that, had it not been for the activity of the New Orleans bankers in seeking to bring about this proposed
transfer, all of its member banks situated in the State
of Louisiana would have continued to be perfectly satisfied to remain in the Eleventh District and to do business with your respondent as they have done heretofore;
and, even with this activity on the part of the New
Orleans bankers, the majority of the member banks,.
or at least one-half of the member banks in Louisiana,
after a full consideration of the matter, have come forward now and expressed in writing to your Board their
desire that no change be made in the District lines,
and that they be permitted to remain in the Eleventh
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Federal Reserve Bank of St. Louis
21
District and to do business with the respondent, which
business has heretofore been satisfactory both to the
member banks and to the respondent, and which business respondent feels confident will remain satisfactory.
The quotations from the letters as shown above demonstrate that even those banks asking for a transfer are
not doing so on account of dissatisfaction with respondent.
One of the first contentions made in the brief of
the Branch Bank of New Orleans is that the State of
Louisiana as at present divided between the Sixth District and the Eleventh District, "is unnatural, as the
whole State of Louisiana should be in the Sixth District." The framers of the Federal Reserve Act did
not consider it unnatural, unwise, or impractical to permit the creation of Districts which did not follow State
lines, but provided that the Districts should not necessarily be coterminous with any State or States. In the
opinion of the Federal Reserve Bank Organization Committee, it was not unnatural, nor unwise, to put a portion of the State of Louisiana within the Eleventh District, as was done.
In fact, it will appear from an examination of the
map, that a majority of the banks, or at least one-half
of the member banks, in Louisiana, in the Eleventh District, are situated as near to Dallas as to New Orleans.
The brief of the New Orleans Branch Bank states
that such a division is unwise, "as is clearly shown by
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Federal Reserve Bank of St. Louis
22
the attitude of the banks of Louisiana which have been
apportioned to the new District," and the brief then
states that turning first to the banks which have been
apportioned to New Orleans, you will find them entirely
satisfied with the disposition made of them, but "on the
other hand, the banks situated in Louisiana which are
apportioned to the Dallas District are anything but satisfied."
There have been set. out above for your consideration copies of letters from twelve banks in Louisiana
within the Eleventh District, which show that they are
not only entirely satisfied with their allotment, but, in
addition, show an earnest desire upon their part to be
permitted to remain as they are and as they were placed
by the Reserve Bank Organization Committee. As
stated above, the Federal Reserve Board has on file a
letter from another member bank in Louisiana within
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Federal Reserve Bank of St. Louis
the Eleventh District, showing its satisfaction with the
District as thus created and its desire not to be transferred and the Board also has a letter from a bank to
be organized at Shreveport, La., within the Eleventh
District as now constituted, showing its preference to
be in the Eleventh District and to do business with the
respondent at Dallas.
It hardly comes with good grace from the Branch
Bank at New Orleans to insist that the member banks in
Louisiana within the Eleventh District are dissatisfied,
when that institution, or the bankers of New Orleans,
23
are the authors of such dissatisfaction as exists, if any.
In the brief of the Branch Bank of New Orleans, there
is a statement to the effect that the Commercial National
Bank of Shreveport, of which E. K. Smith is president,
is eliminated from the discussion and placed in the position of benevolent neutrality. The Commercial National Bank of Shreveport, headed by Mr. E. K. Smith,
does not desire to be placed in a position of benevolent
neutrality, but desires it to be distinctly understood that
it is a fighting institution and insists upon remaining
in the Eleventh District, and doing business with the
Dallas Bank.
On the second page of the brief of the New Orleans
bank are found two reasons asserted by that institution
why these Louisiana banks should be transferred from
the Eleventh District to the Sixth District and permitted
to do business with the New Orleans Branch Bank. It
is regretted that we are forced to take issue with some
of the statements made in paragraphs 1 and 2 of page 2
of the brief of the New Orleans Branch Bank; but it is
not admitted that New Orleans is the industrial center
of the entire District where these member banks are
situated, or that all of these banks procure and have
heretofore procured from New Orleans the money to
move their crops.
We quote from a statement of a
Shreveport bank with reference to this matter as follows:
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Federal Reserve Bank of St. Louis
24
Cotton produced in this territory, amounting to
about Two hundred thousand bales annually, is purchased
through our banks here, with the aid of New York,
St. Louis and Chicago, and without the assistance of
New Orleans banks, and the greater part of our shipments are made through Texas ports for the reason that
the coastal shipping points of Port Arthur and Galveston are nearer by One hundred and forty-five and
eighty-five miles respectively, so that our cotton and
lumber shipments from this part of the State do not go
to New Orleans. The same thing will apply to oil and
shipments of oil, fully seventy-five per cent going
through Port Arthur, Texas. Upon investigation, you
will find that very few, if any, of our cotton factors,
wholesale merchants, oil men, lumber men, carry New
Orleans accounts, whereas they do carry Shreveport,
Houston, Dallas, St. Louis and New York accounts.
The sugar and rice industries are tributary to New Orleans by reason of the fact that these commodities are
raised principally on the low-lands of Southern Louisiana. The cotton, oil and lumber interests extend from the
center, and include the northern half of Louisiana and
Eastern part of Texas, and their business comes through
this point. The cypress manufacturers have their headquarters in New Orleans for the reason that New Orleans is surrounded by cypress swamps. At the same
time, the cypress companies referred to carry good accounts in Shreveport.
'We note that they quote Shreveport banks a number of times when, as a matter of fact, only one bank
out of five in Shreveport, is in favor of this change.
"Shreveport, as the second city of Louisiana, is the
natural banking center for this territory, which includes
East Texas, and to take away from us this territory,
and transfer us to a branch bank of the Federal Reserve Bank in New Orleans would work a great hardship, not only on the banks of Shreveport, but on the
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Federal Reserve Bank of St. Louis
25
whole of North Louisiana. This bank, and the banks in
North Louisiana, have received assistance through the
Federal Reserve Bank at Dallas which would not have
been allowed to us had we been in the New Orleans
District. First, because they are too far away from
this section to be thoroughly familiar with the character
of our paper; and, second, because the business interests of New Orleans would absorb the total available
resources of their Branch Bank without regard to this
section."
From the foregoing statement, it appears that the
northern portion of Louisiana, in which a large amount
of cotton is raised, lumber sawed, and oil produced,
does not do its principal business with New Orleans and
never has, and does not make its principal shipments to
New Orleans and never has; but that about two hundred
thousand bales of cotton annually are purchased through
Shreveport banks with money furnished by New York,
St. Louis and Chicago, and without the assistance of
New Orleans, and that the greater part of these shipments are made through Texas ports, and that the same
thing applies to lumber, oil and other products.
This statement of the Shreveport bank is a clear
cut statement of fact and concedes to New Orleans
that line of business justly due it, but shows clearly
that the northern portion of Louisiana does not do
that great volume of business with New Orleans which
is claimed in the brief of the New Orleans Branch
Bank, so that it is apparent that while the southern
portion of Louisiana, in which the rice, sugar and cy-
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Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
26
press are produced, may do its business principally
with New Orleans, yet, in the northern portion of the
State and in the portion tributary to Shreveport, the
course of business is not to New Orleans, but to Shreveport, Dallas. and the Gulf ports of Texas.
Much stress is laid by the brief of the New Orleans
Branch Bank on the natural course of business; and if
its contention should prevail in all respects then it
would be impossible to maintain the lines of any of the
Districts as now constituted, because there are small
portions of all of them where the course of business
would not be directly to the Bank of that District. The
purpose of the framers of the Federal Reserve Act, however, was to equalize the finances of the country and
give stability to the business of all portions of the
country. If the Board should follow to its logical conclusion the contentions made by the Branch Bank of
New Orleans, such contention would necessarily destroy
that Branch itself, and practically all of the Banks
situated outside of the Eastern centers.
To the end that undue regard may not be given by the
Federal Reserve Board to the argument of the Branch
Bank at New Orleans with reference to the trend of
business being toward New Orleans, respondent respectfully shows that New Orleans has long been a reserve
city, and as such, National Banks in Louisiana outside
of New Orleans, have been authorized to count their
balances with the National Banks of New Orleans as
27
part of their legal reserve. This in itself, without the
added incentive of 2% per annum interest on balances,
and parring facilities, has been sufficient to make New
Orleans exchange desirable or at a premium with
National Banks in Louisiana. Whatever trend of business there has been towards New Orleans has been stimulated by the desirability of New Orleans exchange to
make balances there for the Louisiana Banks. Therefore, this having been of common advantage to all
Louisiana banks, the interchange of business between
them has naturally resulted in the exchange of New Orleans drafts between them.
On account of the proximity of New Orleans to a
portion of the Louisiana banks and the railroad facilities to that city, it has been possible for those Louisiana
banks to forward shipments of currency for their credit
and these shipments have immediately created reserve.
The point to be made in this connection is, were not
the balances in New Orleans counted as legal reserve
currency would not have been shipped to that city. Had
not remittances of New Orleans exchange and items on
outside points, through parring facilities, created reserve balances in New Orleans, the trend of business
toward that city would have been immaterial. New
Orleans exchange would not, therefore, have been acceptable and remittances which would form reserve
balances at some other centers would have been sought
as being more desirable.
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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
28
After an elapse of thirty-six months from the establishment of the Federal Reserve Banks, balances in
New Orleans will no longer form a part of the legal
reserve of Louisiana National banks and the trend of
business toward that city will be materially reduced.
The importance of New Orleans as a port is admitted,
but it has long been practically axiomatic in banking
practice that the documents do not always follow the
shipment, and that the volume of exchange drawn in
reimbursement of shipments forwarded and received at
the port, may be far less than the value of the shipments
received at ihe port for export. Galveston is frequently
referred to as the second port of the United States in
point of exports, yet the transactions representing the
value of these exports are by no means consummated
at Galveston.
A very small percentage of exchange
drawn against shipments to that port for export, is drawn
on Galveston.
Under special arrangements made by the Federal
Reserve Bank of Dallas. currency may be shipped from
Louisiana member banks to it at the same or at less
cost than it may be shipped to New Orleans.
Since the Federal Reserve Act provides that the Federal Reserve Banks may act as clearing houses for
their member banks, the Louisiana banks will have
greater par facilities for clearing miscellaneous cash
items through the Federal Reserve Bank of Dallas than
they have ever enjoyed through the New Orleans banks.
29
When the reserves of National banks may only be
carried either in their vaults or in the Federal Reserve
Banks, the trend of business will be toward Federal
Reserve Banks and the Federal Reserve cities will be
established as new financial centers so far as reserve
and discounting operations of member banks are concerned.
The interests of all would therefore be con-
served by postponing a decision until such time as the
effect of the elimination of Reserve cities, as now provided for by law, can be observed.
The Louisiana banks would not suffer in the interim,
as they have not suffered by reason of their connection
with the Federal Reserve Bank of Dallas. The Federal
Reserve Bank of Dallas has not only been in a position and willing to accord the Louisiana banks every
service and assistance, but it has done so.
Since this argument is supported by facts, it should
be apparent that if the Federal Reserve Board were
to be influenced by the argument of trend of business
and should divorce the Louisiana banks from the Eleventh District at this time, it will impair the ability
of the Federal Reserve Bank of Dallas by reducing its
capital, its reserve deposits, and a necessary diversification of interests without any off-setting advantage, even
to the Louisiana banks.
The ability of the Federal Reserve Bank of Dallas
should, therefore,'not be impaired by reducing its membership and territory at this time, but it is the ultimate
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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
30
effect upon the Federal Reserve Bank of Dallas and its
remaining membership that should be considered more
than the immediate effect.
The Branch Bank of New Orleans in its brief quotes
from several letters received by it from member banks
in Louisiana. It refers several times to quotations from
a bank, or banks, in Shreveport. That the Federal Reserve Board may not obtain an erroneous impression
from these numerous quotations from a Shreveport bank
in the brief of the New Orleans bank, we beg to state
that there is only one bank in Shreveport that has indicated a desire for this change, that bank being the
First National Bank of Shreveport, and it may be possible that the attitude of that bank with reference to
the matter is somewhat influenced by the fact that the
head of a strong opposition bank in Shreveport is one
of the Directors of the Federal Reserve Bank of Dallas.
The Branch Bank of New Orleans quotes from a letter received by it from one of the largest banks attached to the Dallas District, and from the quotation,
and from the statement that it is one of the largest
banks attached to the Dallas District, we naturally assume that this is the same letter from the First National
Bank of Shreveport. Out side of the business done by
the First National Bank of Shreveport through the Federal Reserve Bank of Dallas, that bank, in September,
1915, had 580 items handled through the Security National Bank of Dallas, amounting to $156,580.02. During
31
the same month, that bank had items on nearby towns
handled through the Security National Bank of Dallas, amounting to $46,911.08. For the month of October, 1915, the First National Bank of Shreveport had
handled through the Security National Bank of Dallas
752 items, amounting to $195,915.00, and for the same
month, the Security National Bank handled items for it
on nearby towns in the amount of $124,602.78. It will
therefore be seen that a large amount of business is
handled, even by this bank, through Dallas; and these
figures do not include the items handled through the
Federal Reserve Bank of Dallas.
In order that the Board may not be misled about
the nearness of New Orleans to the member banks in
Louisiana, respondent would show that Shreveport is
325 miles distant from New Orleans. It is 180 miles
distant from Dallas.
Therefore, banks in northern
Louisiana, which are not over 75 miles from Shreveport,
are nearer to Dallas than they are to New Orleans.
Hence practically the entire northern part of Louisiana,
in point of distance, is nearer to Dallas than it is to
New Orleans.
It will be noted, from the letters quoted by the New
Orleans Branch Bank in its brief, excepting one letter
from the First National Bank of Shreveport, that practically all of these letters are from banks in Southern
Louisiana.
If the Board follows its ruling promulgated on Au-
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Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
32
gust 28, 1914, before it could grant the petition, the
petition would have to be signed by at least eighteen of
the member banks in Louisiana. If such a petition is
presented to the Board,, then it is apparent to the Board,
from the letters quoted above, which are being filed
with the Secretary of your Board, that a portion of the
banks signing such petition have, after careful consideration, changed their minds, and now desire to remain in
the Dallas District. As the record now stands, 14 out
of a possible 27 member banks in Louisiana desire to
remain in the Dallas District, with 13 asking to be
transferred to the Sixth District.
Respondent urges that, in the interest of the general
good of the Federal Reserve system, the petition of the
New Orleans Branch Bank be denied in toto.
If, however, your Board decides to disregard its
ruling promulgated on August 28, 1914, with reference
to the number of petitioners who must sign a petition
for transfer, then respondent respectfully urges that
under no circumstances should your Board transfer to
the Sixth District those banks in Louisiana now in the
Eleventh District, who are asking to remain in the
Eleventh District.
Respondent views with alarm the efforts of rival
cities to encroach upon its territory and to seek to cut
the limits of its District. Having been in operation a
little over a year, it is one of the Federal Reserve Banks
which have, by conscientious work and effort, fair and
33
liberal treatment to its member banks, been able to pay
a dividend; and it recognizes that if its boundaries are
further confined, it will not be able to perform in a
satisfactory manner those functions required of it by
the Federal Reserve Act and expected of it by the Federal Reserve Board. If the bankers of the United States
will only stop their efforts to further change the District lines, and will hold up the hands of the Federal
Reserve Board and the Directors and Officers of the
Federal Reserve Banks, the success of the Federal Reserve System is assured, and the benefits flowing therefrom will be widespread and substantial.
Respondent therefore submits this matter to the
careful consideration of the Board, sincerely believing
that the action of the Organization Committee in establishing the present lines was correct and proper and
will result beneficially both to the member banks within
the Eleventh District, in the State of Louisiana, and to
the Federal Reserve Bank of Dallas.
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Federal Reserve Bank of St. Louis
Respectfully submitted,
CHARLES C. HUFF,
Counsel for the Federal Reserve Bank of Dallas.
'L.
f
, PCL1.
January 18, 1916.
New Orleans Branch,
Federal Reserve Bank,
New Orleans, La.
Dear Sirs:There is enclosed herewith copy of a
ram-sent out today by the Federal Reserve
telef,
Board, which is forwarded to you for your information.
Fsespectfully,
•
SecretLry.
;
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
FEDERilL. RESERVE BOAilip
-2,
WASH I NGTON
The telegram given below is hereby confirmed.
asststaitt Secretary.
2-- 7729
January 18, 1916.
C. C. Huff,
for prel)aration yo-ar brief, trannfor banks
sixth district, crztorlded 1,'obraary fifteontia.
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Federal Reserve Bank of St. Louis
Searotary•
t.
THE
L. M.TOOK E, PRESIDENT
DARIUS M. ATKINS, VICE PRES.
W. M. DEAS,CASHIER
ARCADIA,LoiTISIANA, Jan/18/16
:Jr R. L. Van gant Governer
.Federal Reserve Bank
Dallas Texas.
Dear Lr Van alnt;am again calling your attention to the fact
we tint to remain the Dallas District, we vot, d first for
that
Dallas and have every time anything came up to remein with Dallas,
There are many reason why i.e prefer to remein with you,
First your bank is the parent bank,
Second, E. K. Smith is our Director,
Third you are Govenner and was National Bank Exmcliner and are
very familiar ith conditions through out North La,
Third we hair received the best of Arreatment from our bank and
hr,
,
NT no reason to even .ant to change,
Forth , we have much better mail service to Dallas than U. 0.
and there many more rracon why we should stick,
}lease do everything to keep us Lith Dallas,
dont want to be trnsfered to Nev:Orleans or any other district
and will never vote to be removed,
e would feel that we could not get thr treatment that we have
received with any other bank everything taken in consideration,
hoping there will be no change made in the districtand that every
bank will remain :lust -s they are,
Your fr' nd,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
President.
A. B. HORTMAN, PRESIDENT
•
•
W. L. HAMNER, VICE-PRESIDENT
L. W. BAKER, CASHIER
FIRST- NATIONAL BANK /2.)..
OF GIBSLAND, LOUISIANA
Capital and Surplus $30,000.00
NO. 10049
Gibsland, Louisiana
.Tv.ny.18,1916.
•
i1r.0...Hoo,)es, Vice Governor,
:ederl heerve 3;Ank,Da11s, Texa8.
Rep?:-inr: to :Tour Tolnryn of to-du:',reltive to reriirirF.
v-ith
-ood 3un
:t Dc.11t,s,-111 sv.:,,ye wrote the Bow.rd at
ivshinton sontitime
thkt we,Ltisfiecl,Lnd
,erlectly
wi11ir7 to re/Ivin 7rith the Dtillvs 3ank.
TrnEtinT.7 this letter will be of forla bennfit to
you tr,:ith kind re;t-Lrds,I am,
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
..;.;je:ovo
3h±rtO11,ij 0,
• —
pith ralt
ill LitCI'CSt the.; the artertit)ri
ehc,flising thc cniw situLtc(1 in
al7o no: Lrt
of D.Isetelet ;.11 GX
tc, the Liotriet of ..;.tiantn on Le —
eotLit
the fc.:.ct that :et. .„2:2.0.2.13.0 -1i`..*. boon c,fivc.T2. a .13:=.47.3".n.
.2a.alz, and tiiv.t
cf2ort io to Le nnae to ziv ic )1..ri the
7,.-A--)7!
In con:floc:1;101i v:ith thi2 eharZe ¶
rrj
C-I2 opinion. 'and a reaucot that
in the LLILI..-; J'istrict
at leant durinc; the oilloc.-tiozi
•
rx...1ze Jh
.reouczt
the rc.;:,.z.:on that it ..7:1110,
cc5.7atin1w bta ,
zafair to izr Df..12.1as
t,$)
t:) Civoren
aft
they have Cw4lo evc,%:-zr
thri 1Jer toac1313.1; to.
on17
aura:avec"; ,
:14.1/1 CCIITICO
tL, j_ILI1L0
pral.ript C=3 to
Lcauc aY the have v-.1. all
tiez 3,(ieJnieci U overo 1.1.00JLt-nollati.;:a rcyluoct(rl -nncl
et,) not
thliE7:itto thca:khv e not rav:Lo thir -L'erract.A.
7uU ELY: the u
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Your:', truly*
CM.nhi.ere
N. 4216.
C.O.FERGUSON.
PRESIDENT
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
N G,
*RE,
W.A. McK EN Z1111/
CASHIER
HOMER,LOUISIANA,
J. MELTON OAK E S,
ASST.CASHIER
January 18, 1916
Mr. J. W. Hoopes, Vice-Governor,
Federal Reserve Bank,
Dallas, Texas:
Dear 5,:r. Hoones:-
'7,
In answer to your telegram dated January
18th, which read as follows;
"Please forward us to-day copy of letter
Federal Reserve Board, Washington in which you indicated
your willingness to remain in the Eleventh District."
beg to advise that the Blank forwarded us by the Federal
Reserve Board at Washington, to be used for that purpose
was properly ececuted and returned to them, same having
expressed our willingness to remain in the Eleventh
District.
Our Connection with the Federal Reserve
Bank at Dallas has been very pleasant indeed, and we
have no desire whatever to sever our connection with
the Eleventh District.
Trusting the above is the information
desited, and with the highest of regard, I remain
Yours very truly,
L. P. WREN,PRESIDENT
111
DIRECTORS:
ARTHUR F. DUPUY. C.4,1-1 , ER
•
A
ROBERT ROBERTS, JR.
ARTHUR F. DUPUY
L. LONGINO
S. F. MARTIN
W. M. LOWE
L.
A.
C
A.
A. H. GRAY. VICE PRESIDENT
•
NO. 10544
TH E FIRST NATIONAL BANK
P. WREN
H. GRAY
L. CABS
GLASS
OF
MINDEN.
PAID IN CAPITAL $50,000.00
MINDEN,LA.
January 18th, 1916.
J. 7. Hoopes, Vice Governor,
Federal Reprve Bank,
Dallas, Texas.
Dear Mr. Hoopes:
4
%.1
I beg to acknowledge receipt of your telegram
of even date, and beg to confirm our wire in answer to same as
follows:
"Have no copy of letter, indicated our willingness
to remain in eleventh district on form of letter sent us from
Federal Reserve Board :iashington, said letter was signed by me and
forwarded to ,iashington under date tenth ultimo"
We failed to keep copy of letter-but the information
stated above was taken from our minute book and reads in part as
follows-It is our Prefeerence to remain in the 11th District (Dallas)
instead of being transferred to the New Orleans Branch of the 6th
District.This is under date of December 10th 1915.
If their is any further information desired, kindly
us.
call ttpon
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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
OFFICE OF THE GOVERN01.
FEDERAL RESERVE BOARD.
Referred to the Secretary of the Federal Reserve Board
For-Ackno
gment.
ction of the Board.
Preparation of reply and return for signature.
Investigation and report.
Filing.
Calendar.
Disposition.
Reply.
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Federal Reserve Bank of St. Louis
•
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
0
1
..
4 MI
•
Form 1201
V
t.,LASS OF SERVICE
SYMBOL
Day Message
Day Letter
Eke
Night Message
Nite
N L
Night Letter
If none of these three symbols
appears after the check number of
words)this is a day message. Otherwise its character is indicated by the
symbol appearing after the check.
WESTEjj,UNION
TEL .w.ct A. ., AM
WESTERN UNIdN
'!
NM
CLASS OF SERVICE
SYMCOL
Day Message
Day Letter
[1:0
Night Message
Nit°
Night Le'ter
N L
en
If n3ne of thee three symbols
appears after the check (nurrter of
'wirirds) this is a day messave. Otherwise its character is indicated by the
NEWCOMB CARLTON, PRESIDENT
symbol appearing after the check.
BELVIDERE
VICE-PRESIDENT
VICE-PRESIDENT
BROOKS.
GEORGE W. E. ATKINS,
,
)..VA
RECEIVED AT
12DA GU 76 NL
DALLAS TEX JAN 17 1916
CHAS S HAMLIN
,
GOVERNOR FEDERAL RESERVE BOARD
VIASHIGTON DC
ON ACCOUNT OF SICKNESS IN MY FAMILY AND INABILITY TO GET CERTAIN INFOR—
MATION FROM LOUISIANA POINTS HAVE BEEN DELAYED IN PREPARATION OF REPLY
TO THE BRIEF OF BRANCH BANK IN NEViORLEANS FOR TRANSFER OF BANKS IN
LOUISIANA TO .SIXTH DISTRICT I WOULD APPRECIATE IT VERY MUCH IF THE
BOARD COULD GIVE ME UNTIL THE FIFTEENTH OF FEBRUARY IN WHICH TO FILE
BRIEF IN REPLY TO BRIEF OF NEViORLEANS BANK WILL YOU KINDLY ADVISE ME
BY WIRE
C C HUFF
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
119AM 18TH
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
JAS. F. PROHASKA , PRESIDENT
EUGENE A.PHARR. 1.2' VICE PRES.
M. E. NORMAN,CASHIER
HERBERT M. COTTEN- 2
.
_=VICE PRES.
CHAS.P. LYN CH.Assr. CASHIER
6801
FPS* Von
CAPITAL $ 50,000.00
lay
SURPLUS $ 50,000.00
January 17, 1916.
Mr.' R. L. Van Zandt, Gov6or,
. Federal Reserve Bank,
Dallas, Texas.
My dear Sir,
This is to acknowl dge receipt of your
favor of 15th inst conce*aing petition of the Federal
Reserve _.,oard of the New Orleans Branch.
On October 20th, 1915 our Board of Directors
authorized me to write the Federal Reserve Board at
Wasningten, D.C. and state that tnis bank did not
desire to change to the hew Orleans Brunch. This letter
was sent in response to the inquiry from Washington.
We have not yet changed our minds in the matter
and you are at liberty to use this letter in so informing the board at Washington.
Yours very truly,
KRIV r i3
Cashier.
. • _
F;L
-1
TITS
.lanuary 17, 1916.
Fisher,
?resident, First ilaticnal
Winpfield, LcA.siana.
T R:Th
receipt is acnowledged 0: ycur letter
of January 13th, stating that upon a more thcrcugh
investigation cf ihe ecnditiens, etc., you have reccnsidered the rnttcr and now prefer: to reran a
merber of the Federal Resrve Bank of Dallas rather
Ulan be transferred tc the. New Orleans Branch of
the Atlanta Bank.
Th5s letter will be placed
1 :js subject
te other papers cn ,
or ccnsiera-
ion when the matter is tken up.
Respectfully,
Secretary.
„.
es_4„.••t.t.,.k
to
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Federal Reserve Bank of St. Louis
///'
t-11 • 4.'1
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•
•
The First Nati na Bank
OF ACADIA PARISH AT CROWLEY
OFFICERS
DIRECTORS
10700
W. L. TRINIBLE.
President
P. J. CHAPPUIS,
Vice President and Cashier
CAPITAL .
. 850.000.00
SURPLUS . .
S12.500.00
D. W. THIBODEITAX, Met Cashier
CLEM. J. SAMSON,
Orowleyi
Ass't Cashier
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Federal Reserve Bank of St. Louis
122
COPY.
•
Jan. 15, 1916.
Federal Reserve Board,
Washington, D. C.
Gentlemen:7_
We have been informed that there has again
been presented a petition to your Honorable Board
to transfer the Louisiana Banks in the Eleventh
District to the Sixth District, and as a member of the
Eleventh District, we wish to say we are perfectly
satisfied for our membership to remain where it is.
•
We have received excellent service from Dallas
and are perfectly satisfied, and possibly a change at
this time may not be the best interest of all concerned.
Trusting and believing that you will act to
the best interests of all banks concerned, we are,
Yours very truly,
President.
W. L. TRIMBLE
P. J. CHAPPUIS
GEO. B. THOMSON
C. J. FREELAND
J. B. FOLEY
J. S. MAUBOULES
T. T. ATTEBERRY
The First
•
at! nal 13 ink /2-2
OF ACADIA PARISH AT CROWLEY
OFFICERS
DIRECTORS
10700
W. L. TRIMBLE,
President
.
P. J. CHAPPUIS,
Vice President and Cashier
W. L. TRIMBLE
P. J. CHAPPUIS
GEO. B. THOMSON
C. J. FREELAND
J. B. FOLEY
J. S. MAUBOULES
T. T. ATTEBERRY
CAPITAL . . . S50.000.00
SURPLUS . .
S12.500.00
D. W.THIBODEUAX, Ass't Cashier
CLEM. J. SAMSON,
Orowle% L.
Ass% Cashier
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Federal Reserve Bank of St. Louis
Jan. 15, 1916.
Mr. R. L. Van Zandt, Governor,
Federal Reserve Bank,
Dallas, Texas.
Dear Mr. Van Zandt:I am in receipt of your favor of the 14th
Inst. relative to the contemplated transfer of the
Louisiana Banks in your District to the Atlanta District,
and in reply will state I have written the Board at
Washington on this line and have expressed our willingness
9
remain with you.
•
In fact I hive made it
stronger and state we would prefer not to have a change
at this time.
When this question was up before I made the
same request that we remain in your District.
We have had such satisfactory service from your
good institution I would very much regret a change.
With personal regards to you, I am,
Yours very truly,
President.
•
Ti-e First Natio a
OF ACADIA PARISH AT CROWLEY
OFFICERS
W. L. TREMBLE,
.
ank
10700
CAPITAL . .... 850.000.00
SURPLUS
$12.500.00
President
I'. J. CIIAPPUIS,
Vice President and Cashier
ECTORS
sam.
D. W.THIBODEUAX, Ass't Cashier
CLEM. J. SAMSON,
Ass't Cashier
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Orowleys La.
Jan.
7
1;
.
- ''
J. CIIAPPUIS
wid CEO. B. THOMSON
C. J. FREELAND
J. B. FOLEY
J. S. MAUBOULES
T. T. ATTEBERRY
15, 1916.
Federal Reserve Board,
Washington, D. C.
Gentlemen:We have been informed that there has again
been presented a pePition to your Honorable Board
to transfer the Louisiana Banks in the Eleventh
District to the Sixth District, and as a member of the Eleventh District, we wish to say we are perfectly
satisfied for our membership to remain where it is.
We have received excellent service from
Dallas and are perfectly satisfied, and possibly
a change at this time may not be the best interests
of all concerned.
Trusting and believing that you will act to
the best interests of all banks concerned, we are,
yours very truly,
gYFJ
"
President.
A
Illtf$
•
PAUL STAGG.PacsiDENT.
LOUIS MAYER ,VICE-PRESIDENT.
J. LEER LACOMBE,CASHIER.
R.CLEM LAFLEUR,ASST.CASHM.R.
N? 8677
nattit:NLicrummilialoncliTirlutm,
CAPITAL A1NTID SURPLUS
459000 `LP
EUNICE
-2
r-
14.&•, jany.15th,19l6.
2ederal 2
- ,serve Board,
'ashington,D.C.
Gentlemen:
1e note with much interest that the question of
changing the Banks situated in Louisiana which are now apart
of Disctrict fll of Dallas to the District of Atlanta on account of the fact that ;Jew rleans has been given a Branch
Bank and that an effort is to be made to have us join the
branch at ilew Orleans.
In connection with this change we wish to express
an opinion and a request that we be left in the Dallas District
at least during the organization period.
"Te make this request for the reason that it would
ceratinly be unfair to our Dallas friends to want to divorce
after they have done every thing in their power to assist ts.
o.aly speak for ourselves , but our mail service
to Dallas is as prompt as to New rleans and they have at all
times accorded us every accommodation requested and we do not
think it would be fair to them did we not make this request.
Thanking you for the consideration, we are,
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Federal Reserve Bank of St. Louis
14,11
Form 1201
CLASS OF SERVICE
SYMBOL
Day Message
Day Letter
Blue
Night Message
Nite
Night Letter
N L
If none of these three symbols
appears after the check (number of
words)this is a day message. Otherwise its character is indicated by the
symbol appearing after the check.
WfgTE
WESTERN UNION
TEL
NEWCOMB CARLTON,
GEORGE W. E. ATKINS.
VICE-PRESIDENT
UN
) ;,(\I8N
AM,
PRESIDENT
BELVIDERE BROOKS, viCk-PRESIDENT
CLASS OF SERVICE
Day Letter
Blue
Night Message
Nito
Night Letter
N L
If none of these three symbols
appears after the check (number of
words) this is a day message. Otherwise its character is indicated by the
symbol appearing after the check.
RECEIVED AT
B37A P
NL
DALLAS TEX JAN 15 1916
H PARKER WILLIS
SECY FEDERAL RESERVE BOARD
I UNDERSTAND THAT PETITION HAS
FOR TRANSFER FROM ELEVENTH TO
BRIEF AND WOULD BE GLAD
AS SOON AS POSSIBLE COPY
SIXTH FEDERAL RESERVE DISTkIOi
TO HAVE YOU SEND ME
OF PETITION AND BRIEF
C C HUFF
9PM
JAN 171916
Feocfp;
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Roorti
—-
BEEN FILED BY LOUISIANA BANk.)
REPLY TO THIS PETITION AND
HAVE BEEN REQUESTED TO t,AKE
SYMBOL
Day Message
i
J
M. M. FISHER
PRESIDENT
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
B. M. STO
2ND Vi
CALHOUN
T VICE-PRESIDENT
A. L. BRYAN
CASHIER
ESMENT
No. 10,761
THE FIRST NATIONAL BANK
OF WINNFIELD
WINNFIELD, LA.,
Federal Reserve
January 13th, 1916„
Board,
Washington, D.O.
Gentlemen:.
Sometime since we signified our willingness
to be transferred from Dallas Federal Reserve District to
New
Orleans, La.,District,
But upon more thorough
inves-
tigation of the
conditions etc., we have reconsidered the
matter and have
decided that we much prefer to rem41p*bia
the
Dallas Bank, and will thank you for any consideration
you
may give us in this regard,
Yours very truly,
President,
;
i:/s
•
iiOfl.V.P.G.liarin61
'.eserve Board,
PodOrl -:,
shin ton,
ilear.sir:
The stoAhoiders of the Red-F4vor Valley t.ink And Trust COi—
ity conto_laato the liquidation of this bank and the orpan1j of t
ganization of a not', national bank here 71th a c_pital stock of not less
-L.,an your Jundred ThOusand.Dollars. The eutablishz:iellt of this ban17.' is asIts .3to.7h w..ibcription lint is nearly co.:Tlete and 77e are nearly
csurod.
reay to arply for articles of association and to i)erfet the ot_er details
ne -:.soary to a permanent organization.
Ac o erect shortly to enter tJe national system of banko,7e
tA.o question of redistricting the
naturally f..01 a very k ,on interest
Pordt Us therefore to exterritory of tre PedoralRosorve 7.istrints.
press OUX-Vi070 on this point in so far as we may be affected by any zniax
we ;rill very Lush prefer to be attached to the- Dallas Reserve
change.
to bo under the jurisdiction of the NO7 Orleans branch of tLo
than
Bank
Atlanta 2.oservo Bank and we sincerely trust that no action will be taken
by yollr 4onorablo body,the affect of 1-hi'h would.be to divorce this section of Louisiana from the Eleventh Federal Reserve District or the Federal Reserve flank of Dallas.
This Eatter has been fully discussed with Colon31 J.F.Ardis,whO
of the new bank here,andhe is thoroughly in accord with
president
will be
V,!.) believe that we are also expressing
expressed.
horein
Antimont
the
those -7ho ill be directors of our new
of
majority
largo
the desiivs of
4ank.
national
Yours respectfully,
President,
Cashier.
olk
WLY,'"'We
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
J.HOMER JORDAN, PRESIDENT
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
W.V.ROBSON,VicE-PREsmENT
•
HERBERT H.GEE, CASHIER
•
•
tERAMIYMMblitaITAWAlt-,
.41111111111111.
-9
-
CAPITAL STOCK $150,000.00
•
SURPLUS $50,000.00
SIIREVEPORT,LA.. J,)11. 12th, 1916
Hon. Fred. T:7. Hoops, liert. Gov.,
Federal Reserve 3cnk,
Dallas, Tex.,
Bea-2!--11r. Hops:
Enclosed her:with, I beg to hund you.
carpon copy of a letter signed by Er. Jordan and
myself which I am this day forwarding to the Hon..
W.F. G. Harding, of the Federal Reserve Board, at
hington D. C.
Hoping that this letter will have
some weight on the Federal Reserve Board, and with
kindest personal reards from Ir. Jordan ad myself, I bop; to remain,
Yours resrectfully,
TiLY-IBB
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
FEDERAL RESERVE BOARD
January 11, 1916.
De...1.1- Mr. Willis:
Attached are the p..pers relating to the
petition of certain Louisiuna banks to be
transferred from the Dcalkis to the Atlanta
district.
A draft of a teleriram to Governor Van
dated JanuAgy_54 was held up because it
contained the result of the confidential ballot taken by the Board.
I have made an extensive search for the
original petitions filed by these member banks
with :L view to sending a copy to Governor Van
Zargt but have been un4ie to locate them anywh4?e. They were 1os-00-even:a weeks once before and accidentally found by Mr. Kitzmiller
in Mr. Adelson's files.
I wonder if you could ascertain at a
Board meeting whether some member of the
Board knows anything of the whereabouts of
the papers in question. It seems to me that
the D...11as bank is entitled to know the names
of the original petitioners, but as yet it
has been given no information whatevar in
that respect.
Respectf 11, 8
t.„‘i,
„Coei
Or/&N4'.,21
,
A112
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•-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 11, 1915.
J. H. Tulton, Ncq., President,
The Cowmercial National Bank,
New Crleane. La.
-y dear Fir:
I beg to acknowledge your letter of January 7th, signed by
yourself and the
residents of three other national banks of
:,rimans, in which you apply for
a
redistricting of the
Atlanta and Dallas districts, so as to adAt of a branch bank to
be situated partly in thu Dallas district and partly in the
Atlanta district.
shall ct411 this at once to the attention of th() Federal
'eservo Board.
7ory truly yours,
(sign e
Governor.
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Federal Reserve Bank of St. Louis
•
RECEIVED
JAN7 1916
jopv”)
.- lofes of-rice
27i1
/i
th(il(
f (i))/Ji/fir(irt 14740214d/4WiiV/
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Jan'y. 5th 1916
Honorable Charles S. Hamlin,
qovernor,
Federal Reserve Board,
Washington, D. C.
Dear I.r. Hamlin:I have your letter of the 3rd
januaEz,Aacknowledcinc, receipt of the brief sent
you in my letter of the 31st December.
Referrin_; to the last paracyaph
of your letter, We have already sent a copy or this
brief to each of the members of the Board, as advised
in our letter or the 31st December.
Yours very tr)lly,/
/ !
4(/*.ra,
Chairman of Committee
hew Orleans Branch 7edera1 Reserve
an of Atlanta.
•
377
TO THE FEDER.I, RESERVE BOARD!
In response to your request, and by authority of its Board of
/ Z41:44:
Directors, I beg to advise that the
(iame of bank)
desire to
(PL.co)
8k4s...**--ftee-41.04
be transferred from the Eleventh Federal Rascrve District to the New
Orleans Branch of tha Si;:th Federal Reserve District.
The People's National Bank,
New Iberia, La.
M-3,5
(Name and of fi i9..1 title.
Dated
/
Remarks:
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Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 3, 1S16,A
//
ki
J. I.
Fulton, Zsq,,
Chairman of +Ammittee,
c/o Uew urleans DrAuch,
Foderal Reserve Bon'.c of
New Orleans,
Lly
tlanta,
dear Mr. Fulton:
hare your
note
of
ember 3111
en—
00"
closing a copy of yoar brief in the matter of the
requested transfer of the eutira state of mouisiana
to the Axth Federal ileservo )1strict.
do not 'mow whether you have alv
additional copies o? this brief, 'vat if you have,
the members of the Board would appreciate it if
you could send each one a
Very truly yoars,
(signed) C. S. Hamlini
Governor.
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Federal Reserve Bank of St. Louis
@FedFRASER