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122.501 - Wisconsin
Protests, Boundaries of FRDistricts


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

sFull out 850R - Half cut 8502R - Third cut /AMOR - Fifth cut fi 8505R.

Federal Reserve Board,
C. S. Hamlin, Governor,
Washington, D. C.

----

------ ro4E

\
ed CODre'
.—rit'we- not fully in
Believing that the Organization Committee of the Federal Reserve lioa
•re placed
w
trict
cerning "The convenience and customary course of business" in our locali y when
No. 1", Section 2—
circular letter of August 28th, 1914, marke '
No. 9, and referring to your
petition your Bo .rd
"Petition for changes in geographical limits of Federal Reserve Districts,"?
'
n 'istrict No.- 7:
for a hearing to the end that we may be taken from District No. 9 and plac
This request being authorized by Directors of this bank on... F IRST • NAT•I•ONAL • BANK,7
(Bank)
tv,lArdNETTE,'VVIS.
Corporate
Seal
(Town)
Dated


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

By 0...)
Preside

Vice-President.
tf
Cashieror-Seoretary-

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

•
Octo7)or 9, 1111.

Ars
I
Por ycir . nfomItion and In r!,rly
. I0 TAIr aorslunicr.tion a ocW)or
:Ilreolth

3

7

oo.„Iy of Roiylation Ne.

1, proocribn„; to preenduro In appeals from
the dooloion of the Relorp, Ihn% OrglnIzation
Committeo.
Rotvectfulli,

IfIcrotary.
Tol'edf rich Builwinkle, Ca3hier,
,
)
Stato
or
Now Holatoin, ra3.
/73nolonuro.

4111

1111

filtr71.6auk. n>inikliotrin
Se,/

JANES G.GRIEM,Pres
GEORGE H SCHROEDER,Vice Pres
FREDERICK BULLWINKEL,Cashier.

N•ktu3orrlotrin,Irts.

'7
.

Federal Reserve Board,
.vash ngt on, D.C.
1
Gentlemen:—
We rppectfully 7)etition your honorable body 7to
change the geographical limit of thin Reserve District and
to take Calumet County out of District f 9 and pince the
(
'
same in District # 7 .


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

Your9 rospPotfully,
State Ban];.

Holsteilji

_3
(1.154C
7

RECEIVED
*
41c,
•t4J
=
0

OCT 9 1914

'V

o GT 9

9l4

Federal Reserve Board,
C. S. Hamlin, Governor,
Washington, D. C.
Believing that the Organization Committee of the Federal Reserve Board were not fully informed concerning "The convenience and customary course of business" in our locality when we were placed in District
No. 9, and referring to your circular letter of August 28th, 1914, marked "Regulation No. 1", Section 2—
"Petition for changes in geographical limits of Federal Reserve Districts," we earnestly petition your Board
for a hearing to the end that we may be taken from District No. 9 and laced inptrict No. 7.
This request being authorized by Directors of this bank on

r/

Corporate
Seal

El

Dated


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

I

(
(Bank) "4r/A-t--5W
(Town)
By
President vorAiisesPreaulten•

t.

Cashier or Secretary.

S
3-6
7,

...
Federal Reserve Board,
C. S. Hamlin, Governor,
Washington, D. C.
Believing that the Organization Committee of the Federal Reserve Board were not fully informed conwe were placed in District
cerning The convenience and customary course of business" in our locality when
referring to your circular letter of August 28th, 1914, marked "Regulation No. 1", Section 2—
No. t), and
your Board
"Petition for changes in geographical limits of Federal Reserve Districts," we earnestly petition
the end that we may be taken from District No. 9 and placed in District No, 7.
for a hearing to
‘ 7 /
,
This request being authorized by Directors of this bank on
.e=?----r----e ,:c7----e---e-e--/'k.<
(Bank)
f
Corporate
I
1.
--.
Seal
Dated

f (7
.
...
4
4
.... P.-71,--:771-. . ..-../ ,R .... .....


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

By... c‘Irr. ?,
esititnit-uriziee-Pcesidetit.
Cashier or.iiisottotary.-

•

Federal Reserve Board,
C. S. Hamlin, Governor,
Washington, D. C.
Believing that the Organization Committee of the Federal Reserve Board were not fully informed concerning "The convenience and customary course of business" in our locality when we were placed in District
No. 9, and referring to your circular letter of August 28th, 1914, marked "Regulation No. 1", Section 2—
"Petition for changes in geographical limits of Federal Reserve Districts," we earnestly petition your Board
for a healing to the end that we may be taken from District No. 9 and placed in District No. 7.
Thk request being authorized by Directors of this bank on
Corporate
Seal

[

Dated .


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

(Bank)
(Town)

,

By

Cashier or Secretary.

Federal Reserve Board,
C. S. Hamlin, Governor,
Washington, D. C.
e Board were not fully informed conBelieving that the Organization Committee of the Federal Reserv
ary course of business" in our locality when we were placed in District
cerning "The convenience and custom
28th, 1914, marked "Regulation No. 1", Section 2—
No. 9, and referring to your circular letter of August
of Federal Reserve Districts," we earnestly petition your Board
"Petition for changes in geographical limits
t No. 9 and laced in District No. 7.
for a hearing to the end that we may be taken from Distric
This request being authorized by Directors of this bank
(Bank)
Corporate
(Town)
Seal

I

I

Dated


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Federal Reserve Bank of St. Louis

(

"t

By
Vice-President.
Cashier or Secretary.

TREASURY DEPARTMENT TELEGRAM.
WHERE WRITTEN:

To

Federal

eservo Bon.rd.

Washington, se,,i_apthc-r—zi„rezE

Wisconain Blnkers Association,
Milwaukee, Tisconsin.

c2Since 'etition to review involves recision of contrgct
.m
of subscription in on.:: ly,nk and 11,. F:ubscrirtion 16
Board of Directors should authcritt
another tank,
action and petition iou1d bc signed by ?resident or
Vice Preeidert and correrato seal att:tched Itteated
!
,
by the 2 ecretary or Ca.shi3r.

Cove mar.

OFF CIAL BUSINESS.
GOVERNMENT RATES.
CHARGE TREASURY DEPARTMENT, APPROPRIATION FOR


http://fraser.stlouisfed.org a
2-1258
Federal Reserve Bank of St. Louis

The appropriation from which payable must be stated on above line.

STOCK FORM 1753 A.
DIV. P. AND S.


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Federal Reserve Bank of St. Louis

•
/62

/
7/
,

=/°,1*
_

EtAnt,
nmtlr 29.
..icannvin finkorn
'itauuk, in.

tu not:norledae your toln,
gran ot Coi.tpm1.30, r
!
petitIono for revir,7 of tha .limitu of V".41
,
?edqral

!%kntriet3 rerluira aigriaturon

by one or by . (m offienro of bunk, und
t.,
141Pter a ronouion by the dirnctoro
,
nocensary.

will f7)..1, nin rt orv) to our
1

Counnol, and rAviso you shortiy.
vriry truly yourn,
(Signed) C. S. Hamlin,
,rnor of the foari.
,ovr

WEgirE.ci,
.TERN,UNION
WES

TEL

UNICN
AM

Form 2138

RECEIVED AT /Wyatt Building, Cor. 14th and F Sts., Washington, D. C. A=1914 SEP N PM 8
24
B45CHTR 43 NL
MILWAUKEE WIS SEPT 28 1914
S HAMBLIN

•
GOVERNOR FEDERAL RESERVE BOARD

REGULATIONS NUMBER ONE DO NOT
PETITIONS FOR REVIEW OF LIMITS
',IGNATURE BY ONE OR BY

WASHN DC

SEEM PLAIN AS TO VMETHER
OF FEDERAL RESERVE DISTRICTS REQUIRE

TWO OFFICERS OF BANK AND

WHETHER RESOLUTION BY DIRECTORS IS

NECESSARY KINDLY \' IRE oPiNlor

COVERING THESE TWO POINTS


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Federal Reserve Bank of St. Louis

WISCONSIN BANKERS ASSN
NOPM

BC7P.17.7.7
.


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Federal Reserve Bank of St. Louis

/

September 24, 1914.

7 1 r:
By rof ,ranco iron honorable M. K.
Roilly, thla office is in receipt of the
_
q
prot-Yot of your bnnkalcAinat being plgood
in th3 Fedlr 1 11 - sorve Diatrict of Minneapolie.
7n71onod find a copy oC the method
of T;rocedlu*e In appe,2.1s prepared by tho Podoral .110Qerve Board from Vv.) decio1oi of tho
Ro'3orvo aynk OrETanization Committee.

'c rotary.

717.. P. T. Zontner,
Cashior, Tho National Bank,
lanitoloc, 7izoonsin.

BcT/mm


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

2
/2
./

nptsmber 24, 1914.

My dear Congrineman:
Receipt is, molmowledged of your lets _
t:/sr of Septor*er 21otenc1ozang a protest from
the 1aUom-7.1 sank of Manito..7oo, lifnon3in, azainnt
being inc1r:3.c.:1. In the Minnoapolic Pc*3nA. Roserw..;
DtArict.
In reply you are advi;led that a lott'r
Las thie day loon Milrcwod to tho :!.bovel-na-'3d
hanks enclouinE a cou of the procoduro in appealc
Ire;: the docl-ion of the Roeorvo ..3111c Organization
Committoo naming the Fedoral R3Garva cltioo and
the, diztrioto to be sorvad by each.

7JorGtary.

Honorablo M. K. Roilly,
110U30 of Roprooentttiv3o.

EILLY

4111r

4
'
1- D._11R. r,17.111a.'`G00444illEt.ILE

TRICT WISCONSIN

HOUSE OF REPRESENTATIVES
WASHINGTON

"."

7

t

"

•

\


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

SEP 24

1914

;

:17

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

-ertembor 12, 1914.

My dear Congressman!
September .
_
In response to your letter of ..
office a list
12th, if you will furnish this
district, I Shall
of the IT-arbor banks in your
nad and to adbe glad to have tho files exnai
filed provise yOu as to which of thorn have
toots.
rrxd„uostod, I t:e ploa:.uro in .7.or
.P..s rcr-ing you, under soparat

covor, twonty-27.1vo

of Regu.lation No. 1.
Rs

35t"ully,

stant Soar:to.ry.

,
7
Honorable Thataa F. 1 0nop,
House of Ropresentatives.

SIXTY-THIRD CONGRESS.
THOMAS F. KONOP. WIS.. CHAIRMAN.
FINIS J. GARRETT, TENN.
ADOLPH J. SABATH, ILL.
JEREMIAH DONOVAN. CONN.

Xottoe of Nerzeentative

HARRY H. DALE, N. Y.
JOHN J. ESCH, WIS.
JAMES C. MC LAUGHLIN. MICH.

eo

JOS. H. RAY. CLERK.

RIM

titteo ott oPxpeivbitur-e on TtiVic A-A2n

6Wctofiiivitovi, T. e.
Sept. 12, 1014.

2r. Y. C. Elliott, Seely pro tern,
Federal reserve Board,
Washington, D. C..
My Dear Yr. Elliott:I today received the rules relating
to the appeals from the decision of the organI did not, however, receive the list

ization.

of banks in my District in Wisconsin that have
filed a petition for a change in the division
of the District,
I saw Congressman Reilly received
one,
I would like to get about twenty
five of the regulations Eo. 1.
Thanking you, I am,

PC.9 4.1.6.11CPW-0.*Or
0

NSW "
TFTa.TIT

SEP fl 1914
iORM


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Federal Reserve Bank of St. Louis

--numwc,

Sii_SEM E. 00ARD

V11.E.

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

'

Vlie office is in receipt of
your letter of
.
_
SopterlIer„Advisinr ue ttl?st yov fafl4d to
roceive
the 4“.3- f tk:c prc7.!7dnrry in ,
77.rc. :is frrT
,
cision
of 10). P.77f...srvt rilnY Orgnrizotion
Committn,.
arft. ctrrr thnt tYrtusf: at
itadvrirtqrci) It
should l'7,1
1rTif13d tc rct you.
.,

7i'nclo3ed Ilere-Nith

fird dtAliote cot:T.
Ilfnetf1.7.11y,

Se3retlry pr
.

Hon. Edward E.
Brown),
House of
Rqpr.?,nontatives,
Tashingtorl, D. C.

tem.

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

/

oof

22/
September 11th, 1914.

3ir:
This office is in receipt ok your :fetter of
Septemoer_i.Uth ztuvining up thut you failo

to reoeive

the copy of the procedure in appeals from the decisi
on
of tho Reserve "Lank Or&inization Committee.
Ws are sorry tctthrct4 an indvertence it
;,.
shouid have fiiied to reach you.
firld

!:;nclosed 'efereith

uplicate copy.
ReTro3tiuily,

Secretary pro tem.

Hon. Thomas F. Konop,
houle of Represert-Ativen,
',/ashinrton, j.

J'JMRESERVE BOARD 1-111

EDWARD E.BROWNE
8TH DIST. WISCONSIN

HOUSE OF REPRESENTATIVES
WASHINGTON

September 10,1914.
-0/

Secretary pro ten,
Federal Reserve Board,
Washington, D.C.
Dear Sir:
your letter of the ttlatinstantlin which you state you inclose
a copy of the proceedure in appeals from the decision of the
Reserve Bank Organization Committee,and that when the requirements
set forth in the enclosure have been complied with,etc.,has been
received.
I desire to inform you that no enclosure was made with
the letter you sent to met and Ittherefore,cannot comply with the
requirements.
I shall be glad to receive a copy of this "proceedure in
appeals" as soon as possible.


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

Yours very respectfully,

P 17-

.4- I

ANSITMED

SEP 1 1 1914
SEP 1 0
des,

1;1- '4

,)
fL(//...

•

TY-THIRD CONGRESS.

•

Ilk
.
I

AS F. KONOP, WIS., CHAIRMAN.
IS J. GARRETT, TENN.

OLPH J. SABATH. ILL.
JEREMIAH DONOVAN, CON N.
HARRY H. DALE, N. Y.
JOHN J. ESCH, WIS.
JAMES C. MC LAUGHLIN, MICH.

Not,te of

Mepzeeiitative GU. .
I

Co14114nttee on &x,peivtitnt;s2, on Tntfic @3i.t,ifbii't

JOS. H. RAY, CLERK.


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Federal Reserve Bank of St. Louis

RESERVE BOARD EILE

6
Wctki49ton, T.

421 gel

e.
Sept. 10, 1914.

• 711iott, Secretary pro tern,

vrr •

Yederal Reserve Board,
Washington, D. C.
Dear Mr. Elliott:I today received a communication
stating that you were enclosing a copy of
the procedure in Appeals from the decision
of the Reserve Bank Organization Committee.
TT() such enclosure was made with the letter.
would like to get a copy of the
rules as soon as possible.
Thanking you, I an
erely yours,

TFK-Yr

EP 111914
/

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

Septenber 9, 1914.

ry

dear Confrxessran:

For your iftdormwtipn 4nd in
v-ur corlmunication.Wn the subresponse to ,
ject, I am encliiii..ifiTherortith a copy of tLe
procedure in appeals fron the decision of
the Reserve Dank Cxganization CeAmitten, a
duplicate of which. Ime been sent to each
bank represented in the petitions tre.noI am ennitted by you. to thin office.
closin7. also, as requented, a list of the
banks mentioned.
r/hen the requirerlente net
forth in the enclosure have been complied
with ,7ziti a dat sot for the heartr: in
which you are inferestel, I shall tAke
pleasure in seeing that you are promptly
notified.
ry truly 7ours,

Secrottry pro tem.
Hon. 1.!. K. Reilly,
House of Representatives,
anhi.n'ton, fl. C.

,
)
BOARD I(LE
\--FLD'LRAL RESERVE

I
71:


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

ieptember 8# 1014.

ny

delr CowTosoran:

For ycur information and in/
furtor rosponne to y•ur_communicatIonical i/
the subject, enclosed find a copy of tAl
procedure in appeals fro' the decision of
:1
the nosorva BAnk Organization Committoe.
Iasi, the requiroments set
forth in the onclosure have boon complied
an a data sot for ti-x) heai-ilv in
wl?ich you are intorontod, I sh:111 take
pleAsuro in Booing th:.t you aro pro7ptly
notified.
-Very truly ycur

Socretlry pro tom.
Hon. 7ildm(rd 7. Brownc,
liouro of po:Ironentativeo,
n.


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Federal Reserve Bank of St. Louis

/r-

fi%

September 8, 1914.

my

dear Con :reesmant
,

For yeur inforijt.pz 11, in
1
rr:spone to vu . comnnicationGli, ate oubject,
encloeed find a coy of the provedure in ap—
rouis fro the doe:It:ion of tie Reperve
Organization Committee.
'lien the rolpirementn Got
forth in the enc1o3ure have been complied
wiLh and a dAte set for ti!ti hearin in
trh!.ch you ace interetsd,
shail take
pleasure 1. etJuinf; that :vii; are pronpuly
not2fied.
Very truly yours,

Secretary pro tem.
Pon. Thonle 7. Konop,
NO1130 of Poprosentatives,
1 :Ashington, D. C.
:

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

iE 00eUiD

4-30

"ortenber St 19.14.

7.!/
,

AnAr Zonatr,r:

,
For your inforration, and t!),,
icr
furtber resperne to r.tIr
th eubject, oncleo'd find'6W6f-the procerlure ln appnalm from thc de.clxior of the
ResnrveTtC:72;i2ation Committoo.
alt forth
611
.
:
):;.n oom: 11.ed 711 and a
tho enclowrl
A-u intort.
iA
ct ffpfl.i..szoin: that you
T
retr-t1-? notiffild.
ztro ,
711Irrlip

3tionitftrr pro tmc.
Non. T3aa:
Unitox! StAtos Senmte,
".hein7;ton, n. C.

•

.RMLLY
ISTRICT WISCONSIN

COMMITTEE ON AGRICULTURE

/(2,1

HOUSE OF REPRESENTATIVES
WASHINGTON

a/W4t,r-1

o'Vlk
:„ .2 ,11S
.11 7 ,

\
o,\N
0

r-

T cent to your aT
'rom r.'.ertain 1) 71kers in the H dae of Wisconsin a7ainst Lhe incoortion of certain cectir
of 7isconsin in tile

innevo1is .P.snrve

To dr.to I hv- :recedvecT r,o -t*in- from your
2
Doprtment to i71(',icate that the said 1-,- otost had
been received, or as to v[1'.;u
ir considertion of tL


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Federal Reserve Bank of St. Louis

will -thank you for an early

oce f?Cture Auil 1 be

MERCHANTS IND MANUFACTUREA ASSOCIATION
DIRECTORS

OF MILWAUKEE

FRED W. ROGERS, PRESIDENT
JOHN L. KLINGLER. VICE-PRESIDENT
WM. GEO. BRUCE, SECRETARY
WILLIS L. CHENEY, TREASURER
R. L. FROST, Ass, SECRETARY
A. M. CAMPBELL, TRAFFIC SEC'Y
J. A. FETTERLY, CREDIT BUREAU

701-711 GERMANIA BUILDING

MILWAUKEE

MEMBER OF

CHAMBER 0 COMMERCE
,

August 24, 1914.

OF THE

OEN. OITO H. FALK
Euriwor ELmowc
WM. MACLAREN
A. FRIEDMAN
R. H. HACKNEY
W. C. MIDDLETON
A. T. VAN SCOY
[DV/. J. KEARNEY
OSCAR LoCirLER

UNITED STATES or AMERICA

"T")
/cc'.

NATIONAL HEADQUARTERS
RIGG6 BUILDING, WASHINGTON, D.C.

••••

1/7
):11

C21

Committee
Federal Reserve Board,

Dant( 004
'gee,

Washington, D. C.
Gentlemen:We submit to your honorable body a printed copy of the
"Protest Against the Reserve Bank Districting" adopted some months
ago by the Merchants and Manufacturers Association of this city.
In submitting the Protest we should like to inquire
whether it is the intention of your Board to provide for hearings
on the subject, and if so, when and where these will be held.
We respectfully ask that the enclosed Protest receive
such consideration at your hands as the same may deserve.
Respectfully yours,

WGB-M


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

Secretary.

Protest Against
Reserve Bank Districting

Merchants and Manufacturers Association
701-711 Germania Building


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Federal Reserve Bank of St. Louis

-

-

-

Milwaukee

Protest Against Reserve Bank Districting
The Board of Directors of the Merchants and
Manufacturers Association of Milwaukee, at its meeting held April 10, 1914, in conjunction with committees
of the Milwaukee Clearing House and the Wisconsin
State Bankers Association, adopted following preamble, argument and resolution
Preamble and Argument
The designation of Chicago as one of the twelve
reserve bank cities and the inclusion within the radius
of this reserve district of that fraction of the state of
Wisconsin in which Milwaukee is situated, is logical
and inevitable, and meets with our approval.
The attachment, however, of over two-thirds of the
state of Wisconsin and the Upper Peninsula of Michigan to the Minneapolis district is, in our judgment,
extremely unwise, contrary to the established course of
trade, and in violation of the spirit and the expressed
terms of the currency act.
With the exception of a small strip to the Northwest, the state of Wisconsin and the Upper Peninsula
of Michigan are tributary to Milwaukee and to Chicago. These two cities are the distributing centers for
the territory named, and in a broad sense they, together
with the territory named, form a natural and fixed
trade unit. Their commercial and financial operations


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Federal Reserve Bank of St. Louis

•
have developed a strong mutuality of interest, which
gravitates to the same centers and radiates over the
same territory.
One of the basic principles in the law guiding the
apportionment of the territory is that "The districts
shall be apportioned with due regard to the convenience and customary course of business." In attaching
the state of Wisconsin to the Minneapolis District this
principle has apparently been grossly violated. The
trend of commerce in this territory, ever since it became
settled, has been southward, making Milwaukee and
Chicago the logical and recognized trading and banking centers for the same.
The proposed division, therefore, will prove a disturbing factor to the natural course of trade, and harmful to established commercial relations in the territory
named. In view of the facts here set forth be it
RESOLVED, That we, the Board of Directors of
the Merchants and Manufacturers Association of Milwaukee, Wisconsin, strenuously protest against a division of territory which attaches Wisconsin and the
Upper Peninsula of Michigan to the city of Minneapolis, believing such a division to be at once illogical,
harmful, and contrary to the terms of the currency act;
and that we earnestly petition the Federal Reserve
Board for a reconsideration of the apportionment, to
the end that the said territory be attached to the Chicago reserve district.


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Federal Reserve Bank of St. Louis

•

SIXTY-THIRD CONGRESS.
ASBURY F. LEVER. S. C.. CHAIRS AN.
GORDON LEE. GA.
GILBERT N. /1AUGEN, IOWA.
EZEKIEL S. CANDLER. JR.. MISS. JAMES C. MC LAUGHLIN. MICH.
J. THOMAS HEFLIN, ALA.
WILLIS C. HAWLEY. UREA.
JAMES T. MC DeRMOTT. ILL.

JOSEPH HOWELL. UTAH.

JOHN A. MAGUIRE. NEBR.
THOMAS L. FILMY. MO.
JAMES YOUNG, TEX.
H. M. JACOWAY, ARK.

eoli4tRittez 014

eti

hliF3ERVE BOARD MI

CHARLES H. SLOAN, NEBR.
HENRY T. HELGESEN. N. DAK.
CHARLES E. PATTON. PA.
J. KUNIO KALANIANAOLE. HAWAII.

5.Cove of aiv..piriz,entativ

RALPH W. MOSS. IND.
JOHN V. LESHER, PA.
MICHAEL K. REILLY, WIS.
BENJAMIN I. TAYLOR. N.Y.
DUDLEY DOOLITTLE. KANS.

6
MvAirt4oi47 T.

2
/1

°

D. S. MURPH. CLERK.

Lugust 14,1914.
Federal :.,eserve Board,
Washington,D.C.
r'rentlemen:I am enclosing resolutions adopted by some seventy-five
•.
,
banking institutions of eastern and central .Wisconsin proadtini7 against the incorporation of_tIPAar-rit.ca.Z_IS1DILE.antp.,1 by
•

the

d banking institutionth in the Tanneapolis ileserve dis-

trict.
.he 'banking and business world of all the cities in
ern and central Wisconsin north of ,hebugan,were very much
dissatisfied that that part

the ‘iisconsin territory was_41

corporated in the Chicago Reserve district,and these resolutions and petitons are presented to your honorable body for
the purpose of asking you to consider the proposition of rearranging the uhicago and Minneapolis -1ederal .Leserve districts.
.
woulcl be pleased to be kept informed as to the method
of proceedure of your body regarding these resolutions so that
I could arrange to have these barties represented before your
board at the time the resolutions will be taken up.


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

YOUTS very truly,

e,

SIXTY-THIRD CONGRESS.
THOMAS P. KOIRWIS.. CHAIRMAN.
PNWIIP,IT.PBBniirTENN.
ADOLPH J. SABATH, ILL.
JEREMIAH DONOVAN. CONN.
HARRY H

).f.
afo vioe o efiefneoetactliveo 6 a,

DALE, N. Y.

JOHN J.[SCH. WIS.
JAMES C. MC LAUGHLIN, MICH.

Uuz

eo4144uee on

JOS. H. RAY. CLERK.

oii21.4tfic ;614,ifbintr
B..

9.Vca-vi

,
nit01 V,

A

T. e.
June 19, 1914.

Federal Reserve Board,
Washington, D. C.
Gentlemen:
As the Representative of the 9th Congressional Dis.
'
trict of Wisconsin, and actinir,„ArLbAalS, of all the citizens
.dia..tr.ia.t,.I.respeotfully submit
and business interests (4 tt,
the following:
The 9th Congressional District comprises the counties
of Brown, Door, Florenc , Forest, Klwaunee, Langlade, Marinette,
Oconto and Outagamie.
The district is located in the northeastern corner
of the State of Wisconsin.

All the banking business and the

commercial business of this section of the state is done with
Milwaukee and Chicago.
We have two main lines of railroad traversing the
district, running south to Milwaukee and Chicago.

These

railroads are the Chicago & North-Western, and the Chicago,
Milwaukee and St. Paul.

We also have a line of boats along

the western shore of Lake Michigan, running between the ports

: district and Milwaukee and Chicago.

SE/2)8 794
.

The Fox River Valley, the most populous section of

the district and connected by the two main railroad systems


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

•

AN.

ofJCue
FiLM.PAICH.
JOS. H. RAY. CLERK.

Neiazeentcttive

Committee on C9xpellbituzeOnTutfic
1.Vc141i419tou, T.
6

e.

Federal Reserve Board--2.
with Milwaukee and Chicago, is within four hours of Milwaukee,
and six hours of Chicago, while the same section is over
twelve hours from Minneapolis.
The city of Green Bay, the largest city in my district,
is only six hours from Chicago and four hours from Milwaukee,
while it is over twelve hours from Minneapolis.
The city of Appleton, the second largest city in my
district, is five hours from Chicago, three hours from Milwaukee,
and nearly twelve hours from Minneapolis.
The organization committee has placed the northern part
of the State of Wisconsin into District No. 9, the Minneapolis
Federal Reserve District.

This is contrary to the provision

of the law providing, "THAT THE DISTRICTS SHALL BE APPORTIONED
WITH DUE REGARD TO THE CONVENIENCE AND CUSTOMARY COURSE OF
BUSINESS."

In fact I will say that the entire State of Wis-

consin is so closely linked in a commercial and business way
with Milwaukee and Chicago that the entire state, with possibly
one exception and that is the extreme northwestern corner of it,
should belong to District No. 7, the Chicago Federal Reserve
District.

We have very little in common with Minneapolis.

Our banking and business interests are with Milwaukee and Chicago.
The bankers as well as business men from every corner of

py district protest against being included in District No. 9,

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

aco

N. ILL.
VAN. CONN.
N. Y.

le.
e ofNepzeelltative G 8.

WIS.

Committee on &xpeneit•tArze on TuZfic (N,ttifbiittp

/
L. MC LAUGHLIN. MICH.
JOS. H. RAY. CLERK.

Wco1vil9toiv, T.
6

e.

Federal Reserve Board, 3.
and ask that a rearrangement be made so that Wisconsin shall
be included in the Chicago Federal Reserve District.
This matter is of great importance to Wisconsin.
means so much to our people.

It

I believe it is a proposition

that should receive your earnest consideration.

The placing

of Northern Wisconsin in the Minneapolis Federal Reserve District is contrary to the letter and spirit of the law.

Such

an arrangement instead of having "due regard to the convenience and customary course of business," as provided under
The Federal Reserve Act, does just the opposite.

We have

nothing in common with Minneapolis in a business way.
I therefore respectfully petition your honorable board
to so rearrange the districts and put Wisconsin in District
No. 7, the Chicago Federal Reserve District; and should your
honorable board require more information, I respectfully
request a hearing on this matter so that the citizens of Wisconsin may be heard.
ectfully subs itted,
tr"

TFK/DOH


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

E. P. SAWYER, President
CHAS. SCHRIBER, Vice-President


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

LOUIS SCHRIBER, Treasurer
HOWARD L. SMITH, Secretary

llu°vir
anIP•

ttt?
1 th,„

ok-o

OSHKOSH SAVINGS
AND TRUST CO.

,0

CAPITAL $100,000.00

OSHKOSH, WIS.,

May 21, 1914.

Federal Eeserve Board,
Washington, D. C.
Gentlemen:
Enclosed find resolutions adopted
by the Fox River Valley Banks and the ushkosh
ClearinGs House Association.
Yours very truly,
Oshkosh

eari

Association.

BY77v7
Srecretary.

HLS-M

'ANFWERLLI-)
4 1914
tlfpF!,tA

S °414'44t

411

FOUNDED

IN

1903

THE FARMERS & MERCHANTS BANK
CAPITAL AND SURPLUS $15,000.00

L. W. BRAZEAU, PRESIDENT
DENNIS DIONNE, V. PRESIDENT

LENA, WISCONSIN ,

0. W. BRAZEAU, CASHIER

12,

EARL DIONNE, Ass'T CASHIER

Hon. Thos. F. Konop, Congreesman,
7-1.shington, D. C.
Le-r Sir:
At this late hour we tender you herewith

protest

against beinP: included in the Minneapolis FederPi Reserve
Dist:ict, we doing only about k

of our banking business

in said district on account of the inconvenience of railroad and mail service.
We would request. tD:t you use all efforts to
,
put ur in tLe Chic:
-:go district where we rightfully belong.
Thanking you very kindly for your cooperation'
in this matter, we :-:re
yours very ttuly,

Cashier.

11-1,
EP 4

IF.C2Rm

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

1914

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank

Officer

•

•

The Following Resolutions were Adopted by
Fox River Valley Banks

g.,
oi

Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of Cit
Name of Bank
Officer

TO THE FEDERAL REWVE BOARD
WashiNrcon D. C.
Gentlemen:Whereas, in apportioninz the United Sta-te-,7—IYIWVIRmOla
.
Reserve districts, our locality has been placed 'ADID4-44 -t No. 9
to be served by a reserve bank at Minneapolis, aid
/2(2 °
'
1
'• e
Whereas, the lines of transportation aid facilities for
speedy communication between Minneapolis and our diatrlet—ara-V4- 7
6
unsatisfactory and inadequate, and
/
Whereas, oirr commercial ani financial interests do not
tend towards Minneapolis, but rather to Milwaukee and Chicago, and
the proposed division will disturb the natural course of trade and
be extremely harmful to established banking and commercial relations, and
Whereas, Chairman Glass recently said, "In the operation
of the system no bqsiness c9nter will lose its identity or have its
business relations seriously disturbed" and that "the banking operations and the commercial transactions of any giver tenritory will be
practically maintained as they exist today", neither of which conditions can exist if the territory tributory to Milwaukee and Chicago
remains in the Minneapolis district, and
Whereas, member banks located in District No. 9 (Minneapolis) cannot look for rediscount accomodations from District No. 7
(Chicago) or a branch of same if located at Milwaukee,.
THEREFORE, BE IT RESOLVED, That we strenuousiy protest
against a division of territory placing our section in District No.
9, which, in our opinion, is contrary to the terms of the currency
act, which provides that "THE DISTRICTS SHALL BE APPORTIONED WITH
DUE REGARD TO THE CONVENIENCE AND CUSTOViARY COURSE OF BUSINESS," and
that we earnestly petition the Federal Reserve Board to reconsider
the apportionment, to the end that our locality preserve its normal
relations, and be placed in District No. 7, served by the Chicago
Reserve Bank, and that a branch of same be establ. - ed in Milwaukee.
D t


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

/
9AVName of City
Name of Ba
Officers
Z/t
(
Directors

ac—

/Irtct,si

•
•
5-0/
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Ca rying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank
Officer

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

rrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date,


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

Name of City
Name of Bank

Officer

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

1 tr7, .$/'/7/7
1


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

Name of City
Name of Bank

Q

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date hi


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

/f/

Name of City

2,1424/(e-al-aPt-')

Name of Bank'
/
Officer

•

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Da


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

Name of CW
Name of Bank

''/"72-&---e-

t_

•
•
/
The Following Resolutions were Adopted by
Fox River Valley Banks
it/ 7
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of thit district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of, the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State?LWisconsin in the Chicago
District.
Date


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

Name of Cit
Name of Bank

/

•

•

The Following Resolutions were Adopted by
Fox River VOley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably pla
se whole State of W onsin in the Chicago
District.
Date


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

Name of City
Name of Bank
Officer

AWL.

•
The Following Resolutions were Adopted by ,
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

—/7/

Name of City
Name of Bank

I

Officer
(vT

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and businAs interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District,
Date


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

Name of City

,

Name of Bank
Officer

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this r,ule would unquestionably place the whole State 6f-Wisconsin in the Chicago

Date


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

9V /
4
1

Name of City
Name of Ban
Officer

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
. nARKESAIV STATE BA ,
Date
Name of City

MAY 1 - 1914


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

Markesan,
Name of Bank
Offic

p.

0

0

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
g,
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturin
and its prospects for the future."
mining or commercial, its record of growth and development in the past
onsin in the Chicago
Carrying out this rule would unquestionably place the whole State f-Wri
District.
--Z(_-/—/
Name of City
Date


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

Name of Bank
Officer

A

•

r;
7

(

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank

f f.

" rtSt4

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
Districy
(
Date

nx


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

Name of Cit
Name of Bank

/2
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary,course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
•
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Daie

1 - 191,


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

Name of City

PORTi-;.'3114, WiSC.

Name of Bank

FIRST NATir NAL BANK
Officer

The Following Resolutions were Adopted by.
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-halt to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

miatd


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

1

Name of City
Name of Bank

CLU./J77. - )
R
0A,(1
Officer

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
.1'
S41.
.11 A R
MAY 1 - 1914
Date
Name of City


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

Name of Bank

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.

And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
/1/
/
Name of City
Date
_

Name of Bank

(0 5- )717111

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

Officer

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank
Officer

The Following Resolutions were Adopted by,
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
y
Name of City
Date


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

PORTAGE, WM,

Name of Bank

FIRST NATtTALBANK..
Officer

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

April 3111, 1914.

d.ear Tellator:Your letter of the 11Viltn reference to the complaint of
certain banors In or.storn Wisconsin rTIC. tLe northern poninsula
of nichican Y,r.s been received nnd. considered.
In detn.mining the locations of the redercl Eosorve cities
cmd the E;eograrhical limits of the districts to'be scerved, tii
Comrittee save very careful consideration to all of the inportant
fv.ctol's, including the individual convenionce of tho various banks.
It was, of course, impossible to aerino the limits or the
tIcfactorj to al?. mamber banks, but it
districts in a manner
13 believed that the diosatiefactiou of individual boners is due
to a misopprehonsion of the effect of the eetPblishment of the
7ederzl rosary° bcnIql. In anw event, inasmch as the comit tee
hac already filed its certificate with the Comptroller of the
Carrency, It deterinInation lc now reviewoble only b the Federal
Roserva Board under the express tor ma of the statute.
f:inctrely yours,

Hon. Isaac Stephonsot,
United ,tates 9enato.

ISAAC S2P.HENSON. WIS.. CHAIRMAN.
• LES POINDEXTER, WASH.
JOHN WALTER SMITH. MD.
NATHAN P. BRYAN, FLA.
OLLIE M. JAMES, KY.
ELMER..MURPHY, CLERK.

\

COMMITTEE TO INVESTI4ATE TRESPASSERS
\
UPON INDIAN LANDS.

-1(./

Arril. 30, 191:,,

H.

u

.


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

•

,

11.1

•

r

0•

•

7

•

:11.e an. xation of florthern Counties of ,isconsin to the liew
Eeional Bank :;ystem in connection with the ank to be loceted et
_inneapolie prenento a cundition which thoughtful people, interefited in the furure of ,dscensin, would do well to consider before all,e/inG the: hesty piens of .etehington Lepotrtmental Ielpleyees
to change the bueinese affiliations end eenocietions of half e
century without a protest.
eccepting a dozen or leore Counties on
the extreme y.estern 'eorder of the .3t,tte, every close tie of
bueiness calls the jobber, retailers end ieanufacturerc of this
ette to rileaukee zend ehicat;o. All our :}iusineno relatiene in
this cxcat section, heretofore, center et :ilwaukee 0.8 the state
-etrouolic and at Chicago, as the large center of treding.
he
openinc wedre in e change in these conUitions co.ecs with tacking
on I;orthern .inconoin to the re0.onl bank of v. neighboring state
With which we have poor connectione by mil, teleeeonn, reil or
pest business dedings. gor the bankers to center their interest
at einneapolis loeans that they will rur.;uve it from our own netropolis, iilleukee, to the dioadvantage in every way of our several
cuereunitiee. l'ilwoakee, es it crow, ,eds to the prestige which
the ;.;te,te at a whole develope. in building up the eietropolis we
advance ourselves. •,hile 1:i1waukee has not been alive to the
importance of thie northern portion of tile etete to the extent thet
if miEht; while it has been overlooked by the I;ewspepers of .ilwaukce, no one of them atteeptin6 to secure prestige ee a State
Newepaner by it deteilcd work in collecting; news end ecuring
circulation throwsh these counties, still our interests center
at :ilweukee and we would keep them there. The future offers oppur
tunity for the eress and the Trade of :ilwaukee to [7ive nore
attention to this territory, to give it such intenoive celtivqtion that !
ceeatitude for aid in development shall extend to the
older portions of our :Aate. in view of thee conditions ad
fully recognizing each and all of thee, the *Board of eirectorn of
the Cunmercial Club of Antigo, create and approve the following
resolution and direct that a copy thereof be sent u the erceianto
and ieenufo.ctrere eseocietion of ilweelzeeut3 to the :ileeukee
Journal, a newspaper of wide circulation in the lower paet of the
fttate and in parts of this territory and. to the ilve,ekee -'roe
a'rees and the r6entinel and evening 'eisconein.
eesolvcd, that we the Board of eirectore of the Commercial
Club of Anti7o, ,,iscwrup, eroteet against a sepuraTT577r7rar"'
m
•ta8'hing 1;orthern .dsconsin to the Lecional
'Bank of :,inneaeolis, believing such a divizion is illogical,
harmful and contrary to the spirit of the rurrency 'ct;,theet we
earnestly petition the Itaxdarmax:41±xItxmf;:th
the lederel
hescrve 73oard for a reconsideration of such apportionment to
the end that the seid territory be attached to the Chicago
reserve district.


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

'Frank j ;J'inucane.
C Lewis,
L Ilerner,
edward Cleery,
Geo B Hernan,
eL 1;11c:hue s

G Thoc,
Edward Cody,L T Tradeell,

erceident.
Vice rresident
ccrot
(eceasure- ,
e
Anton 7olle,
John .1Thglish,
Richard 14)ebke,
", A Lueck,

*liWolpert.

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

/9/

Name of City

-

Name of Bank _c-47244414---44

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.

And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.

".

Date

3

7

171

st.,

Name of City

(


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

Name of Bank
r
Officer

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

'The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Dat


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

ame of City
Name of Bank
Officer

THE FOLLOWING RESOLUTIONS WERE ADOPTED
BY

THE OSHKOSH CLEARING HOUSE ASSOCIATION
Whereas; Believipg that Chicago was certain to be designated as one of the Reserve Cities,
and that it would be bad policy to designate another Reserve City in an adjoining State whose
business was more or less tributary to Chicago; the Bankers of Wisconsin made no effort towards
having Milwaukee or any other city of the State made a Reserve City.

And Whereas; the Reserve Bank Organization Committee has seen fit in making up the
Reserve Districts to divide the State of Wisconsin,attaching more than one-half to the Minneapolis
District.
Therefore Resolved; That the Clearing House Association of Oshkosh strongly protests
against such division as an injustice to the State at large; as of great detriment to the business
interests of the City of Oshkosh and the Fox River Valley, that district of Wisconsin in which
Oshkosh is located; and not in comformity with the law which states,"The districts shall be apportioned with due regard to the convenience and customary course of business," and would further
suggest that such division is in contravention of the Rules by which the Committee states it was
guided in selecting the District, which Rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital
of $4,000,000, required for the Federal Reserve Bank, on the basis of six per cent, of the capital
stock and surplus of member Banks within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile,industrial,and financial connections existing in each district and the
relations between the various portions of the district and the city selected for the location of the
Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis District is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization
and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
to the capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks
among the districts created."

This is covered by answers to three previous rules.
"Fifth: The general geographical situation of the district, transportation lines and the facilities
for speedy communication between the Federal Reserve Bank and all portions of the district."

The Mail, Express and Passenger Service is of the very poorest. The north and the south lines
running to Milwaukee and Chicago are the principal transportation lines in that portion of the State
and it is only in a few counties that railroad communication with Minneapolis is at all adequate. If
District No.9 remains as now designated it will result in much hardship and inconvenience to the
member banks and business interests,and eventually curtail the present close relations that Oshkosh
Banks and business men have established with the cities of Milwaukee and Chicago.
"Sixth: The population, area,and prevalent business activities of the district, whether agricultural, manufacturing, mining or commercial, its record of growth and development in the past and
its prospects for the future."

Carrying out this rule would unquestionably place the whole
District.


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

te o

in in the Chicago

S
•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
.I.......

Name of Bank
Officer

4fr

,1„,t..4. 144
-e.

/

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank

_goy-

z-‘ 2

Officer C

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.


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

Name of City
Name of Bank

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

3 1 r)

Name of City
Name of Bank
Officer

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

APR 3 0 1914


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

Name of City
Ti
Name of Bank

.
1\(7; 7'1; BAN.K,

.-4\1
•

Officer

Citsaisr.

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank
Officer

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
oir it
Date fi P R 30 1914
Name
/Tat


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

"onal Bank..

oorstWis
Name of Bank

•

The Following Resolutions were Adopted by
Fox River Valley Banks

/-

Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date()

_ (to19 V
/(


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

Name of City
Name of Bank a
j
Officer

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

&G'• /g/

Name of City

First National Bank,
RIPON, WIS.

Name of Bank

Officer

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date C-


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

Name of City
Name of Bank
Officer

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank

Green Bay,

.Ys

McCartney National Bank
Officer

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District \
) ic
4
Name of City
Date


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

Name of Bank

kth,
Officer

?

‘ArAr

/
/

•

e),/

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

G/71/()G1-1

Name of City
Name of Bank

1TI

'
Officer

#2f---(

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to

divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

A pp
•


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

n 1014
v

•

Name of City
Name of Bank

cr. •
••

"

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.

And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

At&

S-11

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

Name of City

•
The Following Resolutions were Adopted by
Fox River Valley Banks
'Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
.

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District,
Date

APR 3 0 1914


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

\P/A s;

'E,

W.

Name of City
Name of Bank

A YS1D E STATE WO
Officer

-

•

1111

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City

Officer

a%

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

3,.

Name of City
Name of Bank

21, 24/. ""

Officer

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.

And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.


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

Name of City
Name of Bank

0
J11.14-

z

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,090,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

_4/()Y


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

Name of City
Name of Bank

ao
,
.

e

'

Officer.1

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the -district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

57'

Name of City
Name of Bank
2
Officer

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank
Officer

4.(a

)(e:„.-0
4A-1 A,

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.

z, -?
2

Date


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

-7 9/ t./.-

Name of City
Name of Bank

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place tie whole State of Wisconsin in the Chicago
District.
-„'
Date


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

Name of City
Name of Bank

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.

,
Date


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

Name of City
Name of Bank

1_, I

1\

Officer

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City

4t--44,
4

Name of Bank
Officer

(A4
4.41 _A

4/14‘.?"-CN:

•

/1.7

j

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

tAr'll 30 1914

Name of City
Name of Bank
Officer

(DS -M/111

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

•
THE FOLLOWING RESOLUTIONS WERE ADOPTED
BY

THE OSHKOSH CLEARING HOUSE ASSOCIATION
••
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities,
and that it would be bad policy to designate another Reserve City in an adjoining State whose
business was more or less tributary to Chicago; the Bankers of Wisconsin made no effort towards
having Milwaukee or any other city of the State made a Reserve City.

And Whereas; the Reserve Bank Organization Committee has seen fit in making up the
Reserve Districts to divide the State of Wisconsin,attaching more than one-half to the Minneapolis
District.
Therefore Resolved; That the Clearing House Association of Oshkosh strongly protests
against such division as an injustice to the State at large; as of great detriment to the business
interests of the City of Oshkosh and the Fox River Valley, that district of Wisconsin in which
Oshkosh is located; and not in comformity with the law which states,"The districts shall be apportioned with due regard to the convenience and customary course of business," and would further
suggest that such division is in contravention of the Rules by which the Committee states it was
guided in selecting the District, which Rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital
of $4,000,000, required for the Federal Reserve Bank, on the basis of six per cent, of the capital
stock and surplus of member Banks within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile,industrial,and financial connections existing in each district and the
relations between the various portions of the district and the city selected for the location of the
Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis District is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization
and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
to the capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks
among the districts created."

This is covered by answers to three previous rules.
"Fifth: The general geographical situation of the district, transportation lines and the facilities
for speedy communication between the Federal Reserve Bank and all portions of the district."

The Mail, Express and Passenger Service is of the very poorest. The north and the south lines
running to Milwaukee and Chicago are the principal transportation lines in that portion of the State
and it is only in a few counties that railroad communication with Minneapolis is at all adequate. If
District No. 9 remains as now designated it will result in much hardship and inconvenience to the
member banks and business interests,and eventually curtail the present close relations that Oshkosh
Banks and business men have established with the cities of Milwaukee and Chicago.
"Sixth: The population, area,and prevalent business activities of the district, whether agricultural, manufacturing, mining or commercial, its record of growth and development in the past and
its prospects for the future."

Carryiaag,lalaptbit L....
v v Tille,WAID unquestionably place the whole State
Nu.District.


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

—EP 4

1914

nsin in the Chicago

/7/ „7,
The Following Resolutions were Adopted by
Fox River Valley Banks

/

Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

/./ —

—

Name of City
Name of Bank
cer

los---nvoi


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

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
# /J/
.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Name of City

Date

Name of Bank
/

1914

FORM
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,

_

414.,*43

(1"Ili ca 2,1........ .......
gr
.
koralei...1'...

•

Green Bay, diis

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

"


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

Name of City

First National Bank,
RIPON, WIS.

Name of Bank
Officer

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of tint district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date APP
'


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

Name of City
Name of Bank

Guy/2ot

rn7r
Officer

i`ft

/27.

The Following Resolutions were Adopted by,
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of tint district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

(10

j

Name of City
Name of Bank

I
L/M CIetz,-(a7--(
9
Officer

w


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

/ k ---?-A--- 4 /
4(" ( '

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place
District.
Date

APR 3 0 /914


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

e whole State of Wisconsin in the Chicago

Name of City
Name of Bank

Y0C
.
Of'hcer

BANKS
5.7A1 ,

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And 'Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Da

""q49

Name of City
Name of Bank

-c))1,601)7\


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

•

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District,
Date


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

Name of City
"1 in:. EXCHANGE. BANK,
Name of Bank

OSHKOSH. WIS.

Officer

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank

Officer

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in.
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

./AAJ C>il


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

Name of City

•
0

4,7__7.
3c)
/

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

.6 30./ fi(--

,

Name of City
Name of Bank

)1 tterA--ic/'
-4
Officer

(91

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

AA,

.

&Atic,ZtAj

/

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Name of City

Date

1

Name of Bank
Officer

10S - flLumj

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

;

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

q

Name of City
Name of Bank

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of thit district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

be First

Name of Cit

Name of Bank

0

• wis
Officer

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
:-/ 9,V
4
-

Date

Name of City
Name of Bank

•

Officer

6 J.71/1./(417)1


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

(4.

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.

And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

-

'

Name of City
Name of Bank
Officer

'MO)

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

•
•
The Following Resolutions were Adopted by
/0ta.
,
Fox River Valley Banks
I,'

Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but. little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

APR 3 0 1914


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

Name of City
Name of Bank

WAY'SME 'TATE

officer

•

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
/V

Date


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

Name of City
Name of Bank

OP,

Officer/
,

(

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
, WIS.
Name of City A Ki-d.
Date


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

Name of Bank
Officer

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place e whole State of Wisconsin in the Chicago
•
Distric
Name of City

Date

27"

Name of Bank Lt

Officerga
l

sEp 8 - lam
CF -1
(ixM

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

ucim

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Name of City

Date

Name of Bank

SEP 819i4
lj

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

Officer iC L t

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Name of City

Date

•

i

e of Bank

-17161. 9 dISEP 8 1914
„
*+.

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

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Banjt."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Name of City

Date


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

Name of Bank

SEP 8 - 1914
944t(--,--4

Officer

,tre

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District,
4 ,2 9 191*
,1,10
Name of City

Date

Name of Bank

SEP 8 - 1914

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

I

C"-11/44

.t4/M

LAA/f'A
Officei

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
Distric
Date


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

Name of City
Name of Bank
Officer

4
AC.d..( CI"
1.

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities', and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

••••••

7?iy

Name of City
Name of Bank

SEP 8 - 1974
m

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

°
1'

Officer

TO THE FEDERAL RglipvE BOARD
WashiWton D. C.
410
Gentlemen:Whereas, in apportioning the United qtates into Federal
Reserve districts, our locality has been placed -fn District No. 9,
to be served by a reserve bank at Minneapolis, and
Whereas, the lines of transportation and facilities -for
speedy communication between Minneapolis and our district art 4eiy
unsatisfactory and inadequate, and
I‘
Whereas, our commercial and financial interests do not
tend towards Minneapolis, but rather to Milwaukee and Chicago, and
the proposed division will disturb the natural course of trade and
be extremely harmful to established banking and commercial relations and
•

Whereas, Chairman Glass recently said, "In the operation
of the system no business center will lose its identity or have its
business relations seriously disturbed" and that "the banking operations and the commercial transactions of any given territory will be
practically maintained as they exist today", neither of which conditions can exist if the territory tributory to Milwaukee and Chicago
remains in the Minneapolis district, and
Whereas, member banks located in District No. 9 (Minneapolis) cannot look for rediscount accomodations from District No. 7
(Chicago) or a branch of same if located at Milwaukee,
THEREFORE, BE IT RESOLVED, That we strenuously protest
against a division of territory placing our section in District No.
9, which, in our opinion, is contrary to the terms of the currency
act, which provides that "THE DISTRICTS SHALL BE APPORTIONED WITH
DUE REGARD TO THE CONVENIENCE AND CUSTOMARY COURSE OF BUSINESS," and
that we earnestly petition the Federal Reserve Board to reconsider
the apportionment, to the end that our locality preserve its normal
relations, and be placed in District No. 7, served by the Chicago
Reserve Bank, and that a branch of same be etablished in Milwaukee.
Date

APR 29 1914

Name of City

if
1

_ 4

Name of Ba 41,7rn I

ANSWERED
c.;L:' 4 1914


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

Officers

r9

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

/74/ Name of City
Name of Bank

Officer

fl/L

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

fr Name of City

F

Name of Bank
Officer 11P4f/-airt

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
various portions of the district and the city selected for the location of the Federal Reserve Bank."
the

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City,
Name of Bank
-7

Officer.

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Dat


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

Name of City
Name of Bank
Officer

,e(W eettaXel,

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

Ott 2 9 191A


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

Name of City
Name of Bank

71,711

.Y-rmers Stnte Bz.1
,
Officer

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

April 29 t 11,1914


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

Name of City
Name of Bank

Brandon Pond du

Wi

P.R.Fo• -r a S•n,B.ilk er \
Officer
IN

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
))1.
Date I Name of City /
/ /
f


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

Name of Bank

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date (


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

Name of City
Name of Bank

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.

And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
- /A,

Date

Name of City
2
4
Name of Bank

%um

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

Officer/

e2/(f)ath7,171,7,-,

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
4
Date A )1 1.1 29 t

193.4

Name of City Brandon Fond du Lac Co,W1
Name of Bank 11,R,Fos

Sc

41.' 11
\
Officer .

- 71/Veigl,


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

cu B.

era.
A

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.

% • .... .

Date

Name of Cit
Name of Bank

4 1914
s
FORM 6

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

Officer

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
^
Yr/W
I
Date
Name of City


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

Name of Bank
Officer

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of.the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

/('7

Name of City -K 6
( 2
/
Name of Bank
Officer

t'HE CO1AME
TO

A_L BANK,

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably •lac the,whole State of Wisconsin in the Chicago
Distri
Dat


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

Name of City
Name of Ban
Officer

Li

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

/

Name of City

Ow,

Name of Bank
Officer

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank
Officer

•

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

APH 2 9 1914


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

Name of City

fficer

ror

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The Mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
•
Date


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

2

9

Name of City
Name of Bank

•

GREEN LAKE STATE BA N K
Officer

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
various portions of the district and the city selected for the location of the Federal Reserve Bank."
the

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
_
District.
kr _ LI
Date


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

IL4.

Name of City
Name of Bank

/-# 7 !
2
-.6-

The Following Resolutions were Adopted by
Fox River Valley Banks
7
1
4 ;4e

'

Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably p ace the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank

",-

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Officer

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.

i‘nR 29 it);

Date


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

Name of City
Name of Bank
Officer

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

APR 29 1914


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

Name of City
Name of Bank

Officer

-

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
]Te,r Holsteln,Calunet County,Wiseonsin.
Anr.29,1914
Name of City
Date
1;tate Bank of Neu Holstein
Name of Bank


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

Officer
Cashier

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carry gout this rule would unquestionabl
Distri
Date


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

Name of Cit
Name of Bank

le State of Wisconsin in the Chicago

The Following Resolutions were Adopted by
Fox River Valley Banks
'Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

g APR v-i\


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

29
)
1914

Name of City
Name of Bank

NA I-1

Officer

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to

divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
districtis in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state
and
it is only in a few counties that railroad communication with Minneapolis is at all adequate.
If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the
member
banks and business interests, and eventually curtail the present close relations the banks and
business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural,
manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the
future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

71ZK

Name of City
Name of Bank

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities,
and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was
more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other
city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve
Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against
such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley,
a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracin
g all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with
the law which states
"The districts shall be apportioned with due regard to the convenience and customary course
of business," and would
further suggest that such division is in contravention of the Rules by which the Committee
states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital
of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and
surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of

Wisconsin.

"Second: The mercantile, industrial and financial connections existing in each district and
the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the
Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organizat
ion and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands
of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequa
te to meet the
legitimate demands of the business of that district at certain seasons of the year.
The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal
Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities
for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines
running to Milwaukee and Chicago are the principal transportation lines in that portion of
the state and
it is only in a few counties that railroad communication with Minneapolis is at all
adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the
member
banks and business interests, and eventually curtail the present close relations the banks and
business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural,
manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

—77/ft

Name of City
Name of Bank

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of thit district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably placejhe whole State of Wisconsin in the Chicago
District.
Date


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

1
7)
Name of City
Name of Bank
Officer

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.

And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
various portions of the district and the city selected for the location of the Federal Reserve Bank."
the

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of W.• 2 :in in the Chicago
District.
Date


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

Name of City
.000

Name of Bank__
Officer

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

APR 29 1914


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

Name of City
Name of Bank
Officer

/

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Air

Name of City

Ar

Name of Bank

Aid

Officer

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
R 29
Date


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

1914

Name of City

KAUKAUNA, WIS.

Name of Bank

THE BANK O. UK
Officer

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District,
D t


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

Name of City

Name of Bank

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole Sta
District.
Date

APR 2 _ 19'


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

Name of City
Name of Bank

of Wisconsin in the Chicago
\,)

40 A
lb

BANK AdtlArt

dttrAr Anitiffli____MPF
WOr

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
•
/7
Date
Name of City


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

a

Name of Bank
Officer

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City:
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

/2/

Name of City
Name of Bank

Officer

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

zt,


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

/71 V

Name of City
Name of Bank3-(24dia/Ze

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably
District.
Date


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

the whole State of Wisconsin in the Chicago

Name titiiy
Name

Officer

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably, lace the whole State of Wisconsin in the Chicago
Distric
0
Date


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

Name of City
Name of Bank
Officer

•

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.

And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
( APR

00
1914

Date

7

Name of City
Name of Bank

,

4

1914


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

t 4404
.

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
AI K 9 1914
#%
Name of City

Date

Name of Bank

‘s7h/tilmi

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

Office

Ade

•

7i'

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this
District-

le would unquestionably p ace the whole State of Wisconsin in the Chicago

Dat

II

Name of Cit
fiel$C.MailigNA
V

r
"...

D

VV ar‘

4 1914
'FORM

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

twirt46

Name of Bank

/

I

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
.2— 9 /

Date

7.Nc-v-" Pc:D

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

1

1914
910
4
1

Name of City
Name of Bank

c/4v--t

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
Distric

.27f-Ifiii

Date

Name of City
Name of Bank

(03


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

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.

APR 29 1914

Date

Name of Bank

"-"•t•


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

Name of City

Officer

1914

t

2 2

The Following Resolutions were Adopted- by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

APR 29 1914

KAUKAUNA, WIS.
UKA
Name of Bank THE BANK OF

Name of City

Officer

1

1,0
*011101111.........•,1
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1914.
.114
Z

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
the whole State of isconsin in the Chica
Carrying out this rule would unquestionably pl
Distric
/
Name of City
Dat•
40- 44
4
Name of Bank
4word.

4 1914

L

6.
ORM 1943
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Z 4
01

42
2
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.

Date

APR 29 1914


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

Name of City
•

Name of Bank
Officer

17
/".

/2 2

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

Anr.29,1914

Name of City

No7.1 Holstoin,Calumet County,Wisconsin.

Name of Bank

Stnte Rank of New Holstein
Officer

6s -41kuni

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

Cashier.

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
,2
District.
Date

,./I‘

/f

PerR 29
Name of City

`37 D
'tfq Fc.:
,1

1914

Digitized 1FORM 1() c27
for FRASER
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Name of Bank

A //C,

Officer

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carryin out this rule would unquestionably
Distric

11
7

Date

Name of City
Name of Bank

sloAki,r0)

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

whole State of Wisconsin in the Chicago

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

Name of City
•••

"O'

—Lv 4

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

Fv-L
1914

Name of Bank
Officer

'11.

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meetthe
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
,
/7/d
Name of City
Date - -//V-6
Name of Bank
Officer

\171/14.Y

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

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

/7ame of City -- Z(
6
7
t.kntir

r-

1 1914
114M3,
FORM

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

Name of Bank

6

BANK,
l'HE COMMEORUIAL
T
IS,

Officerl,er

•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And 'Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionablj ace the whole State of Wisconsin in the Chicago
District.
Name-of Cit

Date
•

a

,
'
NA CAA

4

_

R ED
1914

(OS 7itit,6
,

Digitized for'FORM
FRASER
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Name of

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.

And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date April 29-1914.

Name of City
Name of Bank

Denmark, Wiaconsin.
Denmark State Rank
Officer

6s-704-/ii

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

as hi er

/4
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.

A

Date—
PR—
CA

---

:;J‘,IN....)V •
,

Name of City

WIS,

DA

Name of Bank

_did(
Officer

RM

S II LA


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

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carry'ng out this rule would unquestionably a e e whole State of Wisconsin in the Chicago
4
Distri
Date


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

Name of City

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.

c

Date

7/Y

Name of City
Name of Bank
Officer

6T-Tiwni


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

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Ban

G
--r"

Officer

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
r
c—
7- /122 /
7
7
Name of City

Date

Name of Bank

E:D
11 4

1914

6s- It4-042..

Digitized for FORM
FRASER
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Officer

•
•
The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
2

Date

-/5//

_

Name of City
Name of Bank
Officer

Ls-but-4i


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

eeL

•
The Following Resolutions were Adopted
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a

Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to

divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
- Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place:the whole State of Wisconsin in the Chicago
District.

/

Date

e
add
Adr

Name of City

‘.
‘V*

Name of Ban

-1
1FORM


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

1914
144
.

AMir ,_00M...iFY
Offic•

1411174,/

•

5-6

The Following Resolutions were Adopted by
Fox River Valley Banks
Pi/

;

Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date


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

Name of City
Name of Bank

Officer

The Following Resolutions were Adopted by
Fox River Valley Banks

/

Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
/
Date


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

Name of City
Name of Bank
Officer

•

The Following Resolutions were Adopted by,
Fox River Valley Banks
•
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State ojWjsconsin in the Chicago
District.

.
2 J 1914

Date

Name of City
Name of Bank

12

1/ru,vni


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

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability. of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
/‘.„/
Date(,

"
C
-t


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

/#f Name of City

Name of Bank
Officer

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;

Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

Name of City
Name of Bank

EP 4 1914

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

/-/

The Following Resolutions were Adopted
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but. little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Name of City

Date

Name of Balile
Officer -111111°Cf 1-111111 10 1
"'"
0'
-4160 +1(

6nrk(1-4)


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

41111

0

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

April 28-1914„


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

Name of City
Name of Bank

Denmark,

Wi3.

Denmark State Bank
Officer

/
'
a
Ti

Cashier.

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.

And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

APR 28 1914


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

Name of City
Name of Bank
Officer

•

/

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."

The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."

Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."

The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."

This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."

The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."

Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago
District.
Date

APR 28 1914

Name of City
Name of Bank

_2 4

1914 •

G es- Iith„i8j,

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

E274Officer

EDW A RD CLIAK.fREAMURER

FRANIANE.PRESIDENT

FRED L. DERIVER. SECRETAR,

J. C. LEWIS. VICE PRESIDENT

E .1. FINUCANE,TRUPITICE

• - •

Toinntrrriat Cub ui Antign
DIRECTORS
THE OFFICERS OF THE CLUB AND
.10IIN ENGLISH
T. W. 110.:AN
CEO.IL HERMAN
EDWARD COD,
ANTON MOLLE
WM. II. WOLPERT
RICIIARD KOESKE
I.. P. TRADE WELL
AUGUST A. EVECK
AL. DUCHAC
II. O. THOMAS

Antip, III to.,
April 27, 19144

SEC'RETAR`V-MANAGER-I. A. HERRICK

Hon. T F Karnop,
Washington D. C.
Dear Sir,-Enclose please find copy of resolutions adopted
by this club in reference to the proposed separation
of Wisconsin for the purpose of the Regional banks.
Trusting that you will lend the weight of Srour
authority towards correcting this obvious injustice,
I am,on behalf on this club.

Yours respectfully,

(1
Secretary-Manager

SEP


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

1914

_r

ale annexation of northern Counties of %iisconsin to the New
Ilegional Bank Syetem in connection with the Bank to be located at
inneapolis presents a condition wbich thoughtful people, inter
ested in the furure of disconsin, would do well to coneider before allewinu the hasty pl-ns-of .aohington'Departnental :e,mployees
to change the business affiliations and eseociations of half
century without a protest. excepting a dozen or
:ore Counties on
the extreme 'estern isorder of the tate, every close tie
of
business calls the jobbers, retailers and manuf
acturers of this
state to iilwaukee and Chicago. All our Busin
ess relations in
this great section, heretofore, center at 1.ilw
aukee as the State
Letropolio and at Chicago, as the large cente
r of trading. The
opening wedge in a change in these conditions
colies with tacking
on :northern 4isconsin to the regional bank of
a neighboring state
with which we have poor connections by mail,
telephone, rail or
past business dealings. For the bankers to
center their interest
at einneapolis means that they will ree,ov
e it from our own metropolis, Milwaukee, to the disadvantage in every
way of our several
communities.
llwauleue,
it grows, edds to the prestige which
the State as a whole develops. In build
ing up the metropolis we
advance ourselves. 'ehile :ilwaukee
has not been alive to the
importance of this northern portion of
the State to the extent that
if might; while it has been overlooked
by the newspapers of 111waukee, no one of them attempting to
secure prestice as a State
newspaper by its dot tiled work in colle
cting news 'ed securing
circulation through these counties,
still our interests center
at Lilweukee and we would keep them
there. The future offers oppor
tunity for the Fress and the Trade
of ,ilwaukee to give moiie
attention to this territory, to give
it such intensive cultivation that gratitude for aid in devel
opment shall extend to the
older portions of our State: In view
of these conditions and
fully recognizing each and all of them,
the Board of Directors of
the Coeimerciel Club of Antic°, creat
e and approve the following
resolution and direct that a copy there
of be sent o the .erchants
and L.anufacturers Association of rilwa
ukee and to the iilwaukee
Journal, a newsaper of wide circulatio
n in the loleer part of the
State and in parts of this territory
and to the Lilwaukee Free
.Press and the Sentinel and :evening
Wisconsin.
Resolved, that we the Board of Direc
tors of the Commercial
Club of Antigo, Wisconsin, protest
against a separation of our
State into parts by attaching north
ern '.isconsin to the hegional
Bank of lAnneapolis, believing such
a division is illogical,
harmful and contrary to the spiri
t of the Currency Act; that we
earnestly petition the kardwraicxsiatz
ikxafodiA
the Federal
heserve Board for a reconsideration
of such apportionment to
the end that the said territory
be attached to the Chicago
reserve district.


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

Frank j Finucane,
President.
J C Lewis,
Vice President
F L Berner,
Secretary,
Edward Cleexy,
Treasurer,
Geo B Herman,
T 4 Hogan,
AL Duchac, .
Anton :one,
Li G Thomas,
John
A:Award Cody,
ilichard hoebke,
L T Tradewell,
A A Luecl:,
.ulpert.

S

TO THE FEDERAL REWVE BOARD
Washiggton D. C.
Gentlemen:Whereas, in apportioning the United States into Federal
Reserve districts, our locality nas been placed in District No. 9,
to be served by a reserve bank at Minneapolis, and

r4
.)
7'
Whereas, our commercial and financial interests do n
tend towards Mi.nneapolis, but rather to Vilwaukee and Chicago, and the proposed division will disturb the natural course of trade and
be extremely harmful to established banking and commercial relations, and
Whereas, Chairman Glass recently said, "In thr operation
of the system no business center will lose its identity or have its
business relations ser.iously disturbed" and that "the banking operations and the commercial transactions of any given territory will be
practically maintained as they exist today", neither of which conditions can exist if the territory tributory to Milwaukee and Chicago
remains in the Minneapolis district, and
Whereas, member banks located in District No. 9 (Minneapolis) cannot look for rediscount accomodations from District No. 7
(Chicago) or a branch of same if located at Milwaukee,
THEREFORE, BE IT RESOLVED, That we s4widimge+r protest
against a division of territory placing our section in District No.
9, which, in our opinion, is contrary to the terms of the currency
act, which provides that "THE DISTRICTS SHALL BE APPORTIONED WITH
DUE REGARD TO THE CONVENIENCE AND CUSTOMARY COURSE OF BUSINESS," and
that we earnestly petition the Federal Reserve Board to reconsider
the apportionment, to the end that our locality preserve its normal
relations, and be placed in District No. 7, served by the Chicago
Reserve Bank,
. Date

Name of City
Name of Ban
Officers

4
FORM 11,,,.,4C


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

1914

•

GEO. A. FOSTER, PRE
H. H. HE'NEMAN. V. PRES'T

10176

E. A. KREMOS, CASH,

UNITED STATES DEPOSITARY

Eltr eitizrust ittitntaJptutk
SUCCEEDING THE NATIONAL BANK OF MERRILL

CAPITAL $100.000.00
SURPLUS. $11500.00

\NSWERED
I"
APR 30 1914

MERRILL, WISCONSIN

FORM /-/e)
Federal Reserve Board.
Washington D.C.
/a
2
Gentlemen;
V;(3 wish to enter a strong protest against the placing o
his
locality in the Minneapolis District, for the reason that our business
all trends towards t}e south and East--Chicago is our logical and nat
ural City.
Not over 2% of our items originate in the Minnea:olis district.
There is not a Bank in this city carrying an active account
there-not,sufficient business to warrant.
e have no business connections whatever with the Dakotas and
Montana, which comprise the large portion of the district.
A good indicator is the News Stands of this city-there is not
one carrying carrying Twin City dailies--no call. The demand is 95%
for Chicago and Milwaukee papers.
Train and Mail service between here and the Twin cities poor
and unreliable-while that South and East (Chicago and Milwaukke) is
good.
If this locality is to reap real benefit from the New Act, it
should be assigned to the District in which, the business of our Deoosi
tors is transacted. and we trust that the wishes of the Banks of t?lis
locality will be given proper consideration.
Respectfully

•

ERED
L,LP 4

1914

•
jr- c)f-ZM


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

•
J. E HUTCHINSON, Cashier

4110
M. J. RUDEBECIT, Vice-President

President,

.

JOS. J. SCHULTZ, Ass': Ctisbier

CAPITAL AND SURPLUS $31,250.00

iffitnurro

rutlattio fttfie. Vault

DIRECTORS1
0. II. BRUEMMER

/d!v: ,
)

JOS. G. WALECEL

DR. F. J. \OCHS

•

e•

M. J. RUDEBECK

PAUL L, REINKE

7A

HENRY A. DVORAK Secy.

/1
:/
)Lei0'

GEO. ERICHSF,N

kirwaittirr. Itlig.,

An-ril 24th 1_91+,
1

Horn Thos F Konop,
Washington, D.C.

Dear Ur. Konop:Replying to your very oourteous letter of the
115th relative to 9th Congre ssional District being
placed in the Minneapolis Feaeral Reserve district: Permit me to say
that we appreciate your
effort on the part of the banks of this distri
ct ,‘",:Lit will certainly
place c

natural

oserv(:, channel

out of bounds in

this seotion as

will be shown by the enclosed copy of resolu
tions we are mailing to our
Banking Association Secretary. Trusting you may
be successful in the
good offices you have so kindly taking up in
behalf of the bankers and
business men of this 9th District, I am , with
kind personal regards to
Mrs. Konop and Self,

•


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

S
,

TO THE FiDAAL RE0EAYE BOAAD.
WASHNINGTON,

tf
‘

Gontlemenvi.
14 1erea3, LApportioing
United States into Federal
Reserve distriots, our looality has ben plaond in Distriot NO. 9,
to be served by a reserve bank at Anneapolia, and:
Whereas, tho lines of transportation and faoilities eor
spoedy oommunaiation between hinneapolis and our distrilot tiro very
unsatisfactcvy and inadequate, and
whroas, our oo.qmercial aa d fininanoial interests do not
tend towards iiinneapolls, but rather to ililwauxem ana Chioago, and
proposd division wilL disturb tlir natural 0ourse of trade and
beextremly hamful to e!Itabished bunking and oommsroial re1a4iona,
and
whereas Ohaiman Glass reoently said, " In the operation
of tlse system no business oentar 1ii. lose its idanity or have its
busines relations serioucly disturbod" and that ° the banking opestiona And th-1 00%aaeroitl1 transaotions of any ;Ivan territory will be
praotiaoaLy maintained a3 tiviy (mist tOdayll, naithor of rich oonditions
oan axiat if the territory tributory to IlilwaAem and Ohioago re. ains
In tao lAinneapolis alstr'io;, ana
Whezeas, member banks located in District Jo. 9(Liinne.,
itLoiIj ) nannot look for - radisoount a,
3amodations from Distric No, 7
Chioam) ) or a branoh of 211e) located at Alwaukmq,
THAAgnAM,U IV rAdOVed, T4at we strenuously protest
gainst a division of territory placing our :action in Distriot No.
9, waloh, in our opnion, is 'contrary to til itrus of t!le ourronoy

aot, which provides that "THA DISTRICTS SHALL ATHDITITUN:0 WITH
DU REGA,*(1) TO Tli!; CON'110EiT011.44
TJ
COURS1;OFST/4.C4ifil66,9
and that we earnestly petition tha Federal Reserve Board to reoonalder
the apertiowaent, to taa end that our looalIty
relations, and be placed in Distriot No. 7, preterve its normal
thelChiOag0
3Pinks unii that a branOn of
be estaOlisned in Milwaukee.
Datp.
4L-1/V Name of Ol ty
iame of a
3t1rVtir1

RaGqr74

-

Officers

A

4
.A....d.4.

..
,

/7.
".
1i

•

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/

drAL

r

C.----,...‘4,..
%
Dtrootors
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.
7-A-.L.-...i._ 2..-i 71.A__—.
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440

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41

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r
,i i

/2
,

4

CAL/V4


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

-„17-7

t

1914
-4

›44.4444.4.4.,4it*•
+444
444.

V

44," .40f

I/0

,
I
- MERCHANTS JD MANUF TUREFO) ASSOCIATION
OF MILWAUKEE

FRED W. ROGERS, PRESIDENT
JOHN L. KLINGLER. VICE-PRESIDENT
WM. GEO. BRUCE, SECRETARY
WILLIS L. CHENEY, TREASURER
R. 1.. FROST, ASST SECRETARY
A. M. CAMPBELL, TRAFFIC SEC'Y
J. A. FETTERLY, CREDIT BUREAU

701-711 GERMANIA BUILDING

MILWAUKEE April 24. 1914.

MEMBER OF

CHAMBER or COMMERCE
OF THE

DIRECTORS

GEN. 07TO H. FALK
ELTINGE ELMORE
Wm. Ma.cLAKtm
A. FRIEDMAN
R. H. HACKNEY
W. C. MIDoLuroN
A. T. VAN SCOT
row. J. KEARNEY
OSCAR LOEFFLER

UNITED STATES orAMERICA
NATIONAL HEADQUARTERS
RIGG6 BUILDING, WASHINGTON, D.C.

y.r. Thomas P. Ilonop,
House of 2.epresentatives,
Washington, D. C.
Dear Sir:1 enclose herewith copy of a resolution recently
adopted by the Board of Directors of this Association relative to the location of a regional reserve bank at Yinneapolis, and the making tributary thereto a large portion of the
State of Wisconsin and also the rorthern Peninsula of nichigan.
Yours very truly,

Ass't Seey.
1

ANSVtiERED
1914
I
-LP

S

•
tel,J*.


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

Oro

9)stal.6

• •

••

Protest Against
Reserve Bank Districting

- Merchants and Manufacturers Association
701-711 Germania Building


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

-

- -

Milwaukee

•
•

46

•
•

Protest Against Reserve Bank Districting
The Board of Directors of the Merchants and
Manufacturers Association of Milwaukee, at its meeting held April 10, 1914, in conjunction with committees
of the Milwaukee Clearing House and the Wisconsin
State Bankers Association, adopted following preamble, argument and resolution
Preamble and Argument
The designation of Chicago as one of the twelve
reserve bank cities and the inclusion within the radius
of this reserve district of that fraction of the state of
Wisconsin in which Milwaukee is situated, is logical
and inevitable, and meets with our approval.
The attachment, however, of over two-thirds of the
state of Wisconsin and the Upper Peninsula of Michigan to the Minneapolis district is, in our judgment,
extremely unwise, contrary to the established course of
trade, and in violation of the spirit and the expressed
terms of the currency act.
With the exception of a small strip to the Northwest, the state of Wisconsin and the Upper Peninsula
of Michigan are tributary to Milwaukee and to Chicago. These two cities are the distributing centers for
the territory named, and in a broad sense they, together
with the territory named, form a natural and fixed
trade unit. Their commercial and financial operations


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

•

• •

have developed a strong mutuality of interest, which
gravitates to the same centers and radiates over the
same territory.
One of the basic principles in the law guiding the
apportionment of the territory is that "The districts
shall be apportioned with due regard to the convenience and customary course of business." In attaching
the state of Wisconsin to the Minneapolis District this
principle has apparently been grossly violated. The
trend of commerce in this territory, ever since it became
settled, has been southward, making Milwaukee and
Chicago the logical and recognized trading and banking centers for the same.
The proposed division, therefore, will prove a disturbing factor to the natural course of trade, and harmful to established commercial relations in the territory
named. In view of the facts here set forth be it
RESOLVED, That we, the Board of Directors of
the Merchants and Manufacturers Association of Milwaukee, Wisconsin, strenuously protest against a division of territory which attaches Wisconsin and the
Upper Peninsula of Michigan to the city of Minneapolis, believing such a division to be at once illogical,
harmful, and contrary to the terms of the currency act;
and that we earnestly petition the Federal Reserve
Board for a reconsideration of the apportionment, to
the end that the said territory be attached to the Chicago reserve district.


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

•

TO THE FEDERAL REWVE BOARD
WashiNgton D. C.
Gentlemen:Whereas, in apportioning the United States into Federal!,'-,
Reserve districts, our locality has been placed in District No. 9,
be served by a reserve bank at Minneapolis, and
:/cto
/
Whereas, the lines of transportation and facilities fors
speedy communication between Minneapolis and our district
unsatisfactory and inadequate, and
,
Whereas, our commercial an- financial interests do not
3
tend towards Minneapolis, but rather to Milwaukee and Chicago, and
the Proposed division will disturb the natural course of trade and
be extremely harmful to established banking and commercial relations, and

r ery,

ij

Whereas, Chairman Glass recently said, "In the operation
of the system no bosiness center will lose its identity or have its
business relations seeiously disturbed" and that "the banking operations and the commercial tninsactions of any given territory will be
practically maintained as they exist today", neither of which conditions can exist if the territory tributory to Milwaukee and Chicago
remains in he Minneapolis district, and
Whereas, member banks located in District No. 9 (Minneapolis) cannot look for rediscount acc:omodations from District No.
(Chicago) or a branch of same if located at Milwaukee,
THEREFORE, BE IT RESOLVED, That we strenuously protest
against a division of territory placing our section in District No.
9, which, in our opinion, is contrary to the terms of the currency
act, which provides that "THE DISTRICTS SHALL BE APPORTIONED WITH
DUE REGARD TO THE CONVENIENCE AND CUSTOMARY COURSE OF BUSINESS," an
that we earnestly petition the Federal Reserve Board to reconsider
the apportionment, to the end that our locality preserve its normal
relations, and be placed in District No. 7, served by the Chicago
Reserve Bank, and that a branch of same be established in Milwaukee.
Date

/(

Name of City
Name of Bank

-51 r
N

SEP 4
FORM

Officers

••••••••••

4

1914
WA/a


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Federal Reserve Bank of St. Louis

Directors

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Federal Reserve Bank of St. Louis

,LLS11

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,

Sir:
In resnonse to the inquiry coritained in
the letter of the Yirst !:w.tional Bank of iteverz
ioint, Usesusin, recently forwarded to this office by your bark, enclosed find a carbon copy
of our reply, thie

is selfaiplanator.j.
T:eapectfally,

Secretary.

Vice :A.osidalt,
Cora 7.:%chance :ational
Chirac°, Illinois.

'.'snelosuro.

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Federal Reserve Bank of St. Louis

ILE

i)-,
, ,--- ,--1
.1.

2, 191e:14

Ur:
On be:lalt of the 0117:1-lination camittoo i -3(k:, to
.
aavise thz.t,

(Losinati- :, the .1*'eLera1 licxerve eitios
4
,

ano.in doter:Anil- c tha
l

ci: tho District°

to bc tion
-ed, the Ueitteo cz.tvo c -irt3fu1 con1ration
tho&winces corzre:dulec. rza

of tho catdro country,

and 41 factors, inekaaine te leeza

ntorct

oL,c23,

ucaio ztudled 4.4;.-AI 1,1212.y wocki.
alao ce,atittex..to
the C.el.:;rntrollor
nittoc ct net le(p11 ,

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tale r;12.7...reney,
zoc;;;;;; ct;o

as acilned*

Eocrotz:.4,7.

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ovarr
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Federal Reserve Bank of St. Louis

FEDERAL RESERVE BOARD FILE

/
April 22, 1914.

On behalf of the Orcanization Committee I bec
to advise that, in dosicnatinc the Federal Ileservo
cities zuld in actermin14:, the ceocraphical limits of
the Districts to be svrved, the Committee cave careful conbiaeration to the business colmenionce ana
welfare of the , atire ccuntry, and all factors, inl
cludinu the local Laterests of °eel:, 1.x1t17., were studied
an? fully
The certificate desiczatia these Districts havinc been Mod with the Comptroller of the Currency,
the Committee cannot now locally talk° any clances in
the Districts as defineE.
Your letter has been filed as requesteCL for reference to the Federal Leservo 3eard should timt bo(2.7 decide to alter in an: way the 1ecntio21 of the Pederal
,
Leserve cities an:. the .istricts to be served.
:giespectfally,

Cocretary.

'

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44PRat
:14ffoit.I
4
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Pr
'
9
Oconto, i3coin.

•
No.49I2.

MID FILE.

THE CITIZENS NATIONAL
V.E.U:r1M.
CAPITAL $100,000,00.
E.J.PR FFN P.PRESIDENT.
JOHN A.M U RAT, VICE PRESIDENT.

STEVENS POINT,WIS..

T. L.N.PORT, CASHIER.
C.S.ORTH MAN,Assr.CASHIER.

April 20, 1914.

Reserve Bank Organization Committee!,
Washington, D. C.

APR 23 1914

IFoRm

ft41.„

Gentlemen:In compliance with your request of
the 8th inst.; we enclose, herewith, our application for stock in the Federal Reserve Bank
of Minneapolis.
In connection, herewith, we wish to
file our protest against being included in the
Minneapolis district.

The business we are

now doing with Minneapolis is infinitesimal,
compared to that which we do with Chicago.
Any reconsideration, which you can give, towards changing the district, will be highly
appreciated.
Very truly y

Cashier.

I'

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Federal Reserve Bank of St. Louis

Nt749

THE FIRST

ATIONAL BANK
. •••

Capital $300,000 Surplus $100,000
HERMAN ERB, PRESIDENT
F. J SENSENBRENNER, VICE-PRES.
GEO. H. UTZ, CASHIER
L. 0. WISSMANN, ASST. CASHIER
A. 0. HECHT, AUDITOR

APPLETW WIS.

7

.1 ;d4'
1

April 18th 19 14,

Hon. Thos F. Konop,
Washington, D. C.
Dear Sir:..
We beg to acknowledge receipt of your favor of the 15th
relative to the Minneapolis Federal Reserve District in which the
greater part of Wisconsin was placed.

This of course is not at

all to our liking as you are well award.
The national trend of our business relations are with Chicago
and Milwaukee and we have absolutely nothing in common with Minneapolis
,
because of the distance and the unsatisfactory mail service.
We desire to register our protest in the strongest terms
possible against Minneapolis for the Federal Reserve City for this
district and the banks, merchants and manufacturers in the 9th
Congressional district in which we are located intend to take some
concerted action at once in framing up a protest against bei ng included in Minneapolis Federal District and petition the Federal Reserve
Board for inclusion in the Chicago District.
Thanking you very much for your letter and for the interest
you are taking in this matter in our behalf, we remain,
Yours tru
Cashie
C C;.)
L.


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

#tatr Bank of(*nth 3falb
0. C. MADSEN, PRESIDENT
ALBERT BOYCE, VICE-PRESIDENT
T. F. REYNOLDS. CASHIER
M. L. THOMAS. ASSISTANT CASHIER

Oconto Falls, Wisconsin 2.pr.

1, 3, 1,114.
CAPITAL $25,000.00

,
:on. Thos. F. 2>_onop,
Thshington, D. C.
Dear (:ir:
I be

to acknowledge receipt of your court-o'is favor of the 15th inst.\

tn whioll you inform us that you have Pntered a protedt with the organization
cOmmittee and that the Secretary of tLe Treasury 'pas informed you that
to
the -atter relatiye Athe Federal 7eserve "istrictP should be taken tar with
the Pederal TI eserye Board after it has been a - pointeil. "To hog to tlIsnl:
\
you for your interest in this matter and for the information cortaire'l
in your letter relative to same. I note from your letter that the FaA3ria1
Rezorve Boeard is to be appointed within a month at which time we will
take up tho above question with them. Again thankinri you for your attention
to this matter,

beg to remain,
Yours

•,
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Federal Reserve Bank of St. Louis

1914
qm,k4

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

ALF

::12.1.11 17, 1914,.

Ly dear Conr;ressman:
am l'ectuested by the Secretr7 of the Treamry to
ce:r.r.ovileac,^o the receilit of your letter of

1.1. 11

roference to the protest from the banks in ;or

itth

aictrict

in

Isconzin rgainst the action of the CozT4ittee in illvoinc; them
in the i:intleapolis District, and. to .advise that imtsz.L.-4.c_ as the
Organisation Committee has filed the certificate required by the
Federal Ileserve J,ct

ith the Ca=troller of the Curremyt it is

not within it :nrovinec to mal:e any dhawps.

Vach Olstricts

cm on1y be altered by the action of tha Fekleral Deserve Board
then crutlried.
1:espectfu1ly,

Honorable ,..:Etiard
Browne,
House of EeT)resentatives,
Washincten,
C.

•

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UNITED STATES DEPOSITARY.

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Apr 17th-M.

Hon. Thos. F. Konop, M. C.
Washington, D. C.
Dear Sir:
We were pleased to hear from you as per
your letter of the 15th inst on the subject of the
Federal Reserve Districts and especially with
reference to the proposed protest against having
placed this section of our State in the Minneapolis
District instead of with Chicago, where it naturally
we feel, belongs.
The Writer ha4.1ready taken the question up
with some of the outside banks, both in Milwaukee
and Chicago, and also some others in the small
places effected and finds it almost universal that
the opinion is that a grave mistake has been made.
However, it may not appear as serious as it now
looks after we get used to the conditions.
We shall be very glad to join any movement
looking toward the changing of this but have felt
that it will possibly be well to try the present
arrangement out,thinking that it may be easier to
effect a change later on, than at present, for we
are quite positive it will prove so unsatisfactcry
that a change will have to be made, but it will perha;'s
be easier to make this claim after having had some
experience than before.
We thank you very much for the interest you
have taken on the subject and your willingness to
assist in any way you can,and undoubtedly you can be
of considerable assistance, should we desire to make
use of your influence. We shall be in favor of joining
any concerted movement that may be suggested looking
toward the correction of the subject.
With kind personal regards,
I
\3\c

77:

r7-7. 7Th

sEP 4 1914
FORM

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

oln4A,05

I remain

ours very truly,
THE EATIONAL BANK 02 DE2E2E.
Per
Pre s.

C.F. BOEDECKER,CAsmiER.

AN K S LA BY, V. PREST.

•

CAPITAL

50,00a00 -1-SURPLUS

10,000,00

At„,cw,
Iaa4"tXh:),

AprilI7th 1914.

Mon Thos Konop.
Washington , D.C.,
Dear Sir,We desire to file a protest against the division
territory in this federal Reserve District, or rather

of

register

an objection to the placing of this part of Wisconsin in the
Minneapolis district.

Minneapolis

and St Paul are as foreign

to this part of Wisconsin so far as business relationship goes
as Detroit, Mich or Cincinnati, Ohio.

The banking, mercantile

and manufacturing business of this community now and always has
been conducted

in Milwaukee

and Chicago, territory we are nat-

urally contingent to, on account of water .transportation facilities.

If there is the least possibility of a change in

boundry lines being made by the Federal Reserve Board, please
do what you can for the vital interest of
are all

R.E.Visconsin. We

anxious to see this banksplan worked

but there is

out harmoniously

little chance of it to our satisfaction when it

appears from this unbusinesslike assignment of territory, that
the working out of the plan is not in the hands of thoughtful
investigating, caretaking business heads to start with.
Yours very tnly

President
: ,VII
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1111

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NO.5100

TIIECORNEXMANGENATIONALIANK

3C3

OFCMMCINGO
EiesiPoiir..4..11L+., itm,
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B.C.S.,....711•10121i
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CAPITAL Ai: SUItIDLU% ti S.000,000.
T

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Seventeenth
1914

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ar.4,2#

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1
ElDIWAIM
Sc1011101t3714C.IX., As GANHIM(

Hon. 7. C. McAdoo, Secy. of the Treasury,
Washingto n,
D. C.

Res. Bank 0.rg Committee

Dear Sir:I beg to hand you herewith
a letter received today from our corre-

spondent, the First National Bank, Stevens
0
Point, Wip„ ,
I wrote you yesterday in regard
to this Dank and will thank you to advise
them what course to pursue.
Very truly yours,

celrePident

.._..............................v.......,.=
.
ANSW E,R :1:. '. 13
4

1914

, , . ,., ,. „,. . . . ,. . . . . . . . . . . . . „;_,J

FORM (0cc %'-4-13

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

D

APR 20 1914

7

UNITED STATES DEPOSITORY
No 3001

THE FIRST NATIONAL liANK
OF STEVENS POINT
ESYABLISHED 1883
A.
R
J
C.
0

R WEEK, PRESIDENT
L. KRAUS, VICE PRESIDENT
W. DUNEGAN, CASHIER
W NASON, ASST. CASHIER
A. NELSON, ASST. CASHIER


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

CAPITAL $100.000 00

STEVENS INuxT.

April 16th, 1914

Mr. D.A.Moulton,
V.P.Corn Exchange National Bank,
Chicago.
Dear Sir:We have your letter of April 15th in answer
to our letter of the 14th. As we understand the new
law, our full reserve would have to be carried with
Minneapolis. Of course, we can carry other accounts,
but we would receive no credit for same as a reserve.
We might carry money with the reserve bank in Chicago,
Linneapolis or New York but would receive no credit
in the way of a reserve for the deposit in Chicago or
In either case we would not be allowed to
New York.
make any loans or pay any diviiiends until the total
reserve required by law was to our credit in the
Minneapolis neserve bank. So, in order to keep within
the law and protect our business, we would have to
carry a larger reserve than ever before as we must
have an account in MilwaWcee, Chicago and New York.
Minneapolis exchange would only be a detriment to us.
Up to this time none of our Chicago, Milwaukee or
New York correspondents would take Minneapolis only at
a discount.
If we were allowed to take stock in the reginal bank and then do our banking business where we
please, we would be satisfied but this is not the
case.
I am free to say that this pocket system of
banking is very obnoxious to us. It is not to be wondered at that such a blunder was made in the selection of the districts as the men in charge know nothing
whatever about the banking business. Otherwise the
matter would have been handled more intelligently. The
banks in the different sections of the country are certainly the best judges as to what districts they should be
placed in. It is beyond all un'terstanding that the
decision was made without any regard to the wishes of
the banks furnishing the capital required. An ordinary stockholder in any proposition is supposed to
have some voice.
The committee evidently felt no concern regarding the opinions or wishes of the banks. The success of failure of the system will mean much to the
Wilson administration; they evidently lost
sight of

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

•
of this fact1
i presume the only hope for us now is
that the Reserve 73oard when organized will appreciate
the blunders that have been made and try in a measure
to correct same.

Yours very truly,

El'RE:D
4 1914

WM. U. PAULSEN,PRESIDENT.
M ITCH ELL JOANN ES.VICE PREST.
AUGUST N.SCH EWE,CASHIER.

M. C inliott, Secy. ,
.
.
Reserve Benk OrfmnizPtion Committee,
Washin,c ton, D. C.
,

On behalf of the Chilton National Bank, I wish
to ex ,ress our regret at the division which the Committee
has seen fit to nvke in the -eorrraphical limits of our
State, and I herewith 7i2h to sor that we heartily endorse
the resoirtions which the T:11,7auRee 'le: rinr: House AssocicAion
adopted, protesting again't the clivision of '.1isconsin
k

territory as assigned to re7ional reserve bks, as we
think it is a ,
,-reat injustice to the bani-s of '.is cons in,
,esr.ecially in our section of the State, to be oblied to
tale the roundabout course to reach :,:inneapolis.
sincerely trust that the huts can be changed so as to
bring us in the Chicago district.
enclo e hereviith aphic tioll
your renuest of

_

stock as

Fth.

Thanking you for your consideration of the

171.61..

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Federal Reserve Bank of St. Louis

;

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OF DALE

CAPITAL $25,000.00
G. REINERT, PRESIDENT
A. T. HENNIG, VICE-PRESIDENT
F. H. MANSER, CASHIER

Dale, Wis.,

1 ,.1.C)1 .

26.

Yonor,
rashington, n. C.

n:ar qir:7e have your letter of the ir th,with reference
,
to the
Congresli-rAl nistrict 1-aving been placel in
the "inrearolis 7 eleral reserve district,which.loes by
no neans meet with our approvel,ani if sane shall remain,
it will mean a great leal of inconvenience to every
rational Panking institution in this district, re as
an institution of banking,will finl transactions With our
reserve City as that ..of finneapolis,a great lisalvangage,
arl loss of time by nail.
-Qv as our repersentative of this district,protest
to the Tl_eral reserve Iloard,to the effect that our listrict
ray be included in the Chicago iistrict.
Thanking you for cooperation in this tratter,ani
assuring you of - our greatest Aesire in this change,we are
"ours very truly,

SFP 4 1914
•
fy


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

OFFICERS AND DIRECTORS

•

CHARLES A.BEST,Cashier.
0.A.ELLIS, Presr.
A. H.LUCKENBACH,VicePresr. E.A.WATTERICH,Asst.Cash.
J B CHASE - L.C.HARVEY - J. G. CAMPBELL-JOHN NOONAN - LW.BRAZEAU

5521:

Vi3f),,VID FVLV.
0)A.

tkvtiNifawil
OF OCONTO,
CAPITAL $ 5000099
SURPLUS AND PROFITS $ 35,000 99

CITY,U,SakrtiID STATE C!EROSITORX

1914.

ocontfOft.

V/
)

To the
Reserve Bank Organization Committee,
Treasury Departwint,
Washington, D.C.
Sirs,At a meeting of thO Board of Directors of this
Bank, Wednesday, April 1,, 1914, in its ofZice, a resolution
was adopted by its Board of Directors, recarding which the
following is a copy: i.e.,
"Resolved, That the Reserve Bank
Organization Committee be requested
to 1.1ace Oconto .ana-the -major part
&T'lhe State, of_ Wisconsin., in the
Chicago District for the reasons that
mail and Express connection between
Oconto and the major part of Wisconsin
is much more direct with Chicago than
with Minneapolis, and that the distance
from Oconto to Chicago is more than one
hundred miles less than from Oconto to
Minneapolis, and that the tide of Current -business runs from this Community
much more naturally to Chicago than to
1,1inneapolis, and that our Bank and
general business acouaintance is closer
and more extensive at Chicago than at
Minneapolis."
We would request that this protest be passed
on to the Federal Reserve Board when appointed and organized
in the event that your organization Co, l,ittee does not sod
fit to act in making the change herein ronuested.
Respectfully,
ANSWERED

77:r
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Federal Reserve Bank of St. Louis

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1914
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CAUKIUGO.‘„--ApTil 15, 1914

MIME Szcamearr
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-

APti 17 1014

Sir:
We enclose herewith letter received

Res. Bank Org

this morning from one of our correspondents
the First National Bank, Stevens Point, Wis.
Will you be kind enou41 to have your
office write them what your ruling is on the
points mentioned by them.
Very truly yours,

Hon. Wm. G. Mc Adoo,
Secretary of the Treasury,
Washington, D. C.


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

V 171 I)
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21, ?
7

ANSWERED
API;

Committee

•

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FEDERAL RESEl‘IEE O
THE FIRST NATIONAL B NK

ORY

No 3001

ov sTEvENs poINT
LSTABLISHED

.
R.
J.
C.
0

1883

CAPITAL $100.000.0

R. WEEK, PRESIDENT
L. KRAUS, VICE PRESIDENT
W. DUNEGAN, CASHIER
W. NASON, ASST. CASHIER
A. NELSON, ASST. CASHIER


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

STEN'ENS

614
poiNT. wi. april 14th, 1914

11/
;t

Corn Exchange National Bank,

APR 17!

Chicago.

Res. Bwk Org Committee
Gentlemen:Referring to the Federal Reserve Bank
Districts, we have been placed in the Ilinneapolis
District and have protested vigorously against being thus placed to the Secretaryof the Treasury,
Wm. G.McAdoo; Comptroller of the Currency, John
Skelton Williams, our member in Congress,Hon. E.E.
Brown, and M.C.Elliott, Secretary of the Reserve
Bank Organization Committee, and woulA like to have
you use your efforts to have us placed in the Chicago District.

We think your influence will help

us considerably in the matter.
Our volume of business is with and tributary to Chicago and it would not be possible to
change same to _inneapolis.

If we are forced to

remain in the ;Anneapolis District, it will result
in much inconvenience and a great deal of hardship to our business.

The nail and express servicebe-

tween this city and 2Janneapo1is is exceedingly
poor whale the service to Chicago is very good.
We want to be in the Chicago District, so kindly
do all that you can to help us to a place in your
:woo r•rall1 7 ...!1.1 Pletr4re•f• 6
,
.
,,
,

•

district.
Yours very truly

1111 ,414
0
P

4ar

AL .
. 1410
.
,
41

•

MITCHELL JOANN ES Vice Prest.
W. P. WAGNER, Vice Prest.

H. S. ELD RED,President.

H. P. K LAU S,Cashier.
R.W. SMITH, Asst Cash

of Green B ay,-Wis.

GREEN Bali,WIs

the
Reserve Bank Organization Committee,
Treasury Department,
Washinton i D. C.
Sirs,—

At a meetinz of the Board of Directors held on
:onaay, April 17)th, 1914, at this bank, a resolution was
adopted by this Board of which the following is a copy:
"Resolved, That the Reserve Bank
Organization Committee be requested
to place Green Bay and the major
Dart of the State of Wisconsin, in
the Chicago District for the reasons
that mail and ex-press connection
between Green Bay and the major
part of Wisconsin is much more
direct with Chicago than with
flinneapolis, and that the distance
from Green Bay to Chicago is more
than one hundred miles less than
Cram Green Bay to 21inneano1is, and
that the tide of current business
runs from this community much more
naturally to Chicago than to !IinneapOlis
and that our bank and general business
acquaintance is closer and more extensive at Chicago than at 7inneapolis."
We would request that this protest be passed on
to the Federal Reserve Board when appointed and organized
in the event that your Organization Committee does not see
fit to tict in makinE; the change herein requested.
Respectfully,
•
•

v il

Ltirearft

APR 24 1914
IFOR;y1


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Federal Reserve Bank of St. Louis

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FORM

4 1914

APR 24 1914

J 101.6101 L11•404.0.,MILWA,1.1`.

•
-2
UNITED STATES DEPOSITARY

CAPITAL $150,00099
LAMAR OLMSTEAD, Pres.
JOSEPH ROSSMEISSL,V.Prest.
JOHN J. SH ERMAN,Cashier.
WJ.KONRAD,Jr.,Asst.Cashier.

&41EEEN2a0114

If/
April 13, 1914.

6
,

Ron. Thos. F. Konop, M. C.,
Washington, D. C.
My dear Friend:
Your kind favors of April 8th and 10th came to
hand by due course of mail and I was in Milwaukee last week and
made arrangements with the Wisconsin Bankers Association's

officers

and directors and the Merchants & Manufacturers Association, who
are all very much interested in this matter, to get up forms of
protests, which will be done throughout the State.
I was surprised to learn that so much of the business of even the extreme northwestern portion of our State was
tributary to Milwaukee and Chicago and I wish you could have heard
the members of the Board of Directors of the Merchants &
Manufacturers Association on this subject.

They claim that the

natural trend of the business of Wisconsin is southward and therefore
tributary to Milwaukee and Chicago and they understood from the
meeting which was held in Chicago by the organizers committee that
Wisconsin would be attached to the Chicago regional bank.
The Minneapolis business men and bankers are now
making a canvass of the state for the purpose of carrying the business their way but this is an impossibility and a representative of
the First National Bank of Minneapolis who called on us today told
us that they did not expect any business from Wisconsin excepting
that portion of Superior and a few of the northwestern counties of
the State which were directly tributary to Minneapolis.

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

They be1ieve4

„:11p!
•

a
Una
s;•
UNITED STATES DEPOSITARY

CAPITAL S150.00099

LAMAR OLMSTEAD, Pres.
JOSEPH ROSSMEISSL,V.Presr.
JOHN J. SH ERMAN,Cashier.
WII^J KONRAD.Jr,Asst.Cashier.

A.pri.EapATFWRth

April 13, 1914.

however that they will get the territory of Washington lying
east of the Cascade Mountains which would help them out and give
them all the capital that they needed.
I. was surprised to find that even the bankers
and citizens of La Crosse were very much opposed to doing business
at Minneapolis.
When you receive the protests which are now
being made throughout the State, you will understand the matter
fully and I trust that you will be able to assist us in being
transferred from Minneapolis to Chicago.
I wish to thank you for the interest you have
taken in this matter, and allow me to assure you that our people
appreciate the stand you have taken.


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Federal Reserve Bank of St. Louis

With kindest regards, I am,
Yo rs

truly,

111

UNITE,

AROit

No 3001

THE FIRST NATIONAL 14A
OF STEVENS POINT
CAPITAL $100000 00

ESTABLISHED 1883
A.
R
J
C.
0

R. WEEK. PRESIDENT
L. KRAUS. VICE PRESIDENT
W. DUNEGAN. CASHIER
W NASON. ASST. CASHIER
A. NELSON, ASST. CASHIER


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

4
l
fe
STEVENS POINT, Ns s. Ap r 1
-

13, 1914 f

Ho4.M.C.Elliott,
Sec. Reserve Bank Organization Con.,
Washington, D.C.
Dear Sir:Referring to your circular letter of
April 8th in reference to our subscription to
the capital stuck of the Federal Reserve Bank
of Minneapolis.
As stated in our telegransto the Secretary
of the Treasury and our Representative,Yr. E.E.
Brown, and also our letter of today to the Comptroller of the Currency, we protest to the limit
against being placed in the Minneapolis district
as it w()uld result in graat inconvenience and
much hardship to our business. Our volume of
business is with and tributary to Chicago and
it would be impossible for us to change the
volume to iinneapolis. If forced to remain in
the L.inneapolis Distret, it would result in
considerable loss to us as we -“)uld be compelled
to carry a larger reserve than our present reserve of 25%, and as we will have to do business
in Chicago, under the Federal Reserve Law, we
would get no credit for the money on deposit
in Chicago.
We desire to be placed in the Chicago
District and take stock in the Federal Reserve
Bank of Chicago.

Yours very truly,

Cashie .
•

UNITED STATES DEPOSITORY
•

No 3001

Tr'E FIRS4T NATIONAL BANK
('I' STEN'ENS POINT
ESTABLISHED 1883
A.
R
J
C.
0

R. WEEK. PRESIDENT
L. KRAUS. VICE PRESIDENT
W. DUNEGAN, CASHIER
W NASON. ASST. CASHIER
A. NELSON, ASST. CASHIER


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

CAPITAL S100.000.00

STEVENS IN lINT, NVI,

April 13th, 1914

Hon.John B.Williams,
Comptroller of the Currency,
Washington, D.C.
Dear Sir:We are in receipt of your circular
letter of April 8th enclosing application for
stuck in the 7ederal Reserve Banks of Minneapolis, Minn,
In this connection wuuld state that we
very much object to being placed in the Minneapolis District, as our volume of business is
with and tributary to Chicago and it would be
a great hardship for us to have to do business
in Minneapolis. If we are forced to do business with Minneapolis, we would have to carry
a larger reserve than our present reecrve of
25%, as because of conditions, we would have
to carry an account in Chicago, it would be
utterly impossible for hs to change our volume
of business to Minneapolis.
The Minneapolis district would have no trouble getting the minimum capital even if Wisconsin was taken out of same.
The mail and express service between
tilis city and Linneapolis is exceedingly poor
while to Chicago is most excellent.
So, for the above reasons, we desire to
be placed in the Chicago District and take
stock in the Federal Reserve Bank of Chicago.

Yours very truly,

0 1._S.T..til.g. BOMID
C _ l'‘Al.

WARD E.BROWNE

V-ILE

8TH DIST. WISCONSIN

HOUSE OF REPRESENTATIVES

/

WASH I NGTON

April 11,1914.
Hon.7illiam G.McAdoo,
Secretary of the Treasury,
WaShington,D.0.1.1 y dear Sir:
.
I am receiving a large number of protests from the banks,
in my district in Wisconsintagainst the action of the Board in
placing this district in the Minneapolis district.
Through my entire Congressional District there is not a bank
that does any businesst or carries an account -:ith the Minneapolis
banks. All their business is done with Milwaukee and Chicagopand the
mail and express facilities are much more convenient with Milwaukee
and Chicago.
12 there is any opportunity for a hearing p as I suppose the
Federal Reserve Board has the final, deciion in the matter,the banks
in my district,or their representativest would like to be heard.
Yours

ri1\1 L.

ERED

i\PR 1 7 1914


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Federal Reserve Bank of St. Louis

-espectfully,

'11\i

•

ISA4SSTEPHENSON, WIS.. CHAIRMAN.
•441LES POINDEXTER. WASH.
JOHN WALTER SMITH. MD.
NATHAN P. BRYAN. FLA.

JO'

OLLIE M. JAMES. KY.
LEWIS S. PATRICK. CLERK.

tliCniteb —$fatez -Sen. te,
tor

ok11\)

COMMITTEE TO INVESTIGATE TRESPASS

A
9 1k7.
(

UPON INDIAN LANDS.

-e• (\Pr\
;
V 0
-79Tirovel

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APR 1 4 1014

I:arinette, "Asconsin,
April 11,1914.

Res. Bailk Org Committee

The President:
The Bankers in Eastern "!isconsin and the 'Torthern Peninsula of Fichigan appear to be very mach dissatisfied
with the arrangement by which they are placed in the !:inneapolis District, instead of in the Chisaco District.
They say that if the Organizati'm Committee has
in view
•

the convenience and customary course of business'

as stated, it surely will not hesitate to t7ive them reconsideration,because Minneapolis is most inconvenient for banks in
this section.
The customary course of business for this district has always been with Chicago and Yilwaukee.

Fail poste

ed hers at night is received is Chicago early the next mornin,while the mail to !'Llineasolis is quite irregular and
itemS between banks are never credited until the second day.
It would seem to me,therefore,that the Committee
must have been misinformed as to the customary course of business and I trust you may see fit to call its attention to the
matter.

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Federal Reserve Bank of St. Louis

Very truly,

•

SON, WIS., C
OINDEXTER, WASH.
WALTER SMITH, MD.

7.11

THAN P. BRYAN, FLA.
OLLIE M. JAMES. KY.
LEWIS S. PATRICK, CLERK.

3
1J-Crriteb -gifatez ..$enates 146.1tPirfil
1
'
COMMITTEE ' 0 INVESTIGATE TRESPASSERS
UPON INDIAN LANDS.

Marinett, Wisconsin,
April 11,1911..

Hon. William G. McAdoo,
Secretary of the Treury,
Washington, J). C.
Sir:
The Bankers in

astern v:isconsin F.nd the Northern Peniri-

sula of Tricigan appear to be very much dissatisfied with
the arrangement by which they are placed in the Tainneanois
District instead of in the Chicago District.
They say that if the Organization Committee has in view 0,
the convenience and customary course of

mess 1

PS

stated,

it surely will not hesitate to give them reconsideration
because iLinneaoolis is most inconvenient for bnnks in this
district.
The customary course of business for this section has
always been with Chicago and Milwaukee.

— ail nosted here at

:t
night is received in Chicago early the ne, morning,while the
mail to Minneapolis is quite irregular and items between
-;
bt nks are never credited until the second dfly.
It would seem to me,therefore,that the Committee must
have been misinformed W3 to the custo!nary course of business

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

CLERK.

'Uniteb -$fixtez ,Senate,
COMMITTEE TO INVESTIGATE TRESPASSERS
UPON INDIAN LANDS.

lion

W. (1. VcA.

ctridI trust you may see fit to evil its attention to the
matter.


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Federal Reserve Bank of St. Louis

Very truly,

47:-RAL ril:ERVE BOARD ME
D. L.PLU MT,PRESID
JOHN

AN. ROUT, CASHIER

CS C U RT I S , VICE Ppesr.

C.G.K

; -A51-1.
- 5
U EGERA - 7 C

THE FIRST N ATIb N A I.: BANK
CAPITAL AND SURPLUS $500000

WAUSAU, WIS..

kg"

April 11th, 1914.

FIRST NATIONAL BANK BUILDING.

To the Reserve Bank Organization Connnittee,
Washington, D. C.
Gentlemen:
We submit to you herewith resolutions unanimously adopted
by our board of directors at the regular directors' meeting of
our bank today. We fully appreciate the difficulty of arranging the federal reserve districts to meet the wishes of all
People. The trade and commerce of Wisconsin is largely with
Milwaukee and Chicago, and that of the east two-thirds of
the
state, including the Wisconsin River valley and all the countr
y
lying to the east and south is almost entirely so.
The embarrassment and inconvenience of having to transact this
business in the future through Minneapolis is decidedly very
great.
It is directly contrary to a natural course of our trade,
and
will result not only in delay and inconvenience, but in large
expense as well.
It is true that during the next three years we will
be able
to retain our reserve connections in Chicago and Milwau
kee to
some extent, but thereafter we cannot profitably do so
under
the law.
We believe that if the entire state of Wisconsin were
included in the Minneapolis district it would not be so
bad, for
in that case undoubtedly a branch bank would be
established in
Milwaukee within the next three years, and our
business could be
conducted there. The division that has
been made of our state,
however, works a very decided hardship.
That portio
in the Minneapolis district includes the large manufan included
cturing
section of central and eastery Wisconsin, and leaves in
the
Chicago district very little commercial and manufa
cturing business
outside the lake shore counties of Milwaukee, Racine
and Kenosha,
which includes less than 3% of the territory of
our state.
-

1-VAN,

/

It is in no spirit of fault finding that our
bank makes this
protest, but we understand it is your wish that
temperate and
honest criticism shall be made, and we most sincer
ely hope you
will make a rearrangement of the territory
which will at least
leave the east two-thirds of our state in a
district which shall
include Milwaukee, and we sincerely believe
this district should
. ---,be-Chiaago.
77
ZDV\ifiZa-cz.L.12)

'_i:' 4
c-

1914

FORM 6:


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Federal Reserve Bank of St. Louis

a L.PLUM,PREsiDENT
JOHN RINGLE ,VICE PREST
C.S.CURTIS, VICE PREST.

G RO UT, CASHIER.
C G.KRUEGER,Assi.CASH.,

THE FIRST NATIONAL BANK
CAPITAL AND SURPLUS $500,000

WAUSAU, WIS..
FIRST

NATIONAL

BANK

BUI DI

Reserve Bank Organization Committee-2.
Considering the very great commercial importance
city of Milwaukee and. its prestige, in which all our of the
citizens
take pride, it is sure to make much better feeling
if the state
can be retained as a unit.


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

Yours respectfully,

L RLUNIql,PRtstoEnT
JOHN RINGLE ,VicEPREST.rS
c,
C 5 CURTIS,\AcE PRES,.

H.GROUT, CASHIER,
C G.KRUEGER.AssT CASH.

THE FIRST NATIONAL BANK
CAPITAL AND SURPLUS $500,000

WAUSAU, WIS..
FIRST

NATIONAL

BANK

April

11th, 1914.

BLI LDING.

WHEREAS the Reserve Bank Organization Cohunittee has
designated the federal reserve districts and has divided the
state of Wisconsin in two parts, including the north three-fourths
of the state in the Minneapolis District and the south one-fourth,
which includes the city of Milwaukee, in the Chicago District,
AND, WHEREAS, such division puts at least the entire Wisconsin River valley e_id all of the territory to the east and
south of it lying within the Minneapolis district directly contrary to the convenient and cuLtomary course of business of said
entire section of our state,
NOW, THEREFORE, we most respectfully and strongly protest
against such division as a great injustice to this large and important manufacturing and commercial portion of our state, and
we respectfully assert that the convenient and customary course
of business of the entire state of Wisconsin, and especial
ly of
the Wisconsin River valley and the territory lying east
and south
thereof, is with Milwaukee and Chicago, and we assert that fully
nine-tenths of our business in conducted through
Milwaukee and
Chicago and to the east thereof, and that Minneapo
lis is directly in the opposite direction.

Further, we most respectfully urge

and request that the city of Milwaukee, at least,
should be included in the same federal reserve district as
this portion of


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

•

D. L.PLU M
JOHN RINGLE ,VicE PREST.
C.S.CURTI S, VICE PREst

•
,PREsiDENT
A.H.GROUT, CASHIER.
C.G.K R U EG ER,ASST.CASH..

THE FIRST NATIONAL BANK
CAPITAL AND SURPLUS $500,000

WAUSAU, WIS.,
FIRST NATIONAL BANK BUiLOING.


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

-2Wisconsin.

Further, we most respectfully protest against the

division of our state which has been made as directly contrary
to the preferences expressed by the Wisconsin national banks in
reply to your inquiry for preferences, and that only first
choice should be considered in the answers made to your inquiry.

aA7Lwf--7

k
•

THE FIRST NATIONAL BANK OF CRANDON
CAPITAL 825,000.00
C. 0. DECKER, PRESIDENT
S. A. GIFFORD, VICE-PRESIDENT
EDWIN E. PALMER, CASHIER

CRANDON. WISCONSIN
oit9

April 10, 191/1.

142 6"
,
Hon. T. F. Konop,
House of Representatives,
Waqhington, D. C.
Dir:
We wish to protest strongly against the action of
the Federal Reserve rank Organization Committee in including the northern and central portions of Wisconsin in
the Minneapolis district.
The commercial relations of this section of Wisconsin
with Chicago are close, whereas very little business,
comparatively, is done with Minneapolis.

We are informed

that probably ninety per cent. of the shipments of freight
to merchants in this locality, aside from shipments of
flour, comes from the south.

This bank's principal re-

serve agents are in Milwaukee and Chicago, with none in
Minneapolis or St. Paul, and practically all of the banks
about us are situated likewise.

We believe it to be an

injustice to the business houses and banks of northern
Wisconsin to arbitrarily change the business relations
of years standing and to divert the channels of trade
from our na,tural source of supply in the south.

This

will be the ultimate result if the reserve districts are


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

.4

THE FIRST NATIONAL BANK OF C RANDON
CAPITAL *25,000.00
C. 0. DECKER, PRESIDENT
S. A. GIFFORD, VICE-PRESIDENT
EDWIN E. PALMER, CASHIER


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

CRANDON, WISCONSIN

2)

allowed to stand as at present.
Apart from these considerations is the fact that
the Federal Reserve Bank of Chicano will be one of the
largest and strongest while that in linneaDolis will be
one of the smallest, and we have serious doubts of its
having sufficient capital under present plans to properly
core for the needs of its territory.
We trust that tl 'atter may be favored with your
-e ,
active attention to the end that the whole of Wisconsin
may be included in the Chtcago district.
ResY)ectfully,

1.27,e_President.

O

CARITAL & SURPLUS t.200,000.04

itorivXalf,,end
OF MARINETTE
J A.VAN CLEVE,PRESIDENT.
R.F.GOODMAN,Vicr PRESIDENT.
H.J. BROWN,CAsHIER
O.P. OSTHELDER,AssT.CAsHicp.
G.W. STEPHENSON,ASS T. CASHI ER.

1/14,:re4
APRIL TENTH
NINETEEN FOURTEEN

Hon. Thomas Konop,
Washington, D. C.
Dear Sir:—
I presume you are weary of hearing
complaints from Bankers in Eastern Wisconsin about
being placed in the Minneapolis District, but please
pardon me for saying just a few words on the
subject.
The New York Chronicle, in its issue
of April fourth under the head "The Financial Situation"
apparently wants to be fair to the Organization
Com—
mittee,and says in defense of its action that
the
Commission was bound by the provision that the
Districts
must be apportioned "with due regard to the
convenience
and customary course of business."
Admitting the fact
that the Commission was so bound, one then wonder
s who
told them that the "convenience and customary. course
of
business" in Eastern Wisconsin is with Minnea
polis *
Certainly no Banker or Milichant would say so f
but pro—
bably they were not consulted as they would be
supposed
to be prejudiced. I can think of noPne, tAerefore,
whom the Commission would consult who would give them
the information, unless, possibly, it was the Superi
n—
tendent of Schools.
Trusting that your efforts to place us
in the Chicago District may be of some avail, I remain,
Very truly yours,

A NSW 1-2.
SE.r 4 1914


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

111

Non.

7470
FRS:

CDFFICER:

E. L. KOSANKE,
PRESIDENT.
H. KOEHLER,

ANKE,
H. KOEH
R,

(3:irst National

cal.)

F. W. BAU R,
C. A. SPEN ER,
WM. DRES N, a
R.
F. A

VICE—PRESIDENT.

A. L. KOSANKE,

(17-npital $25,0130.00

CASHIER.
FL

S. OLSON,

s-$urplits zuth lirofits !-.55,1300.00

ti

A SS'T CASHIER.

62
/

.1ki1
k#41?Ls,'

tj

3.11m:t1tu qvt,

April 10th. 1914.

The Reserve Bank Orgakization Committee,
Washington,

A PR 29 1914
-

D.C.

Gentlemen:Your letter of the 8th. inst. to hand
that our subscription to the capital
advising
stock of the Federal Reserve Bank of Minneapolis
should be forwarded to your office within thirty
days.
We protest most vigorously against
being assigned to the Minneapolis District. We
have practically NO BUSINESS with that section
and carry no accounts with any banks outside of
New York, Chicago, Milwaukee, Oshkosh and Waupaca.
The train and mail service to rinneapolis from
here is very poor, there being but one direct
train that stops here per day. The bulk of our
business is with Chicago and Milwaukee and it is
to the CHICAGO DISTRICT that we naturally and
rightfully belong.
We understand the banks
thruout the whole of Wisconsin anft the upper
Peninsula of Michigan are protesting against
being attached to the Minneapolis District.
We would very much like to have an
early reply as to whather any chahge is likely
to be made and ALL of Wisconsin he assigned to
the Chicago District.
Yours very truly,

'
I •
t

p.

vki

•

President.
P 4

1914 1)
41111tIQ

.z
IFoR1.4

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

gL

•
E TEITGEN, PRESIDENT


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

F.T. ZENTNER, CASHIER.

THOS HIGGINS,Vice PRESIDE

GA NYHAGEN, ASST. C).

NO. 4975.

•

7
9
19W
0
/ /40
UNITED STATES DEPOSITARY.

.
A .-91-14
" t'.)0
t.

Hon. 1.I. K. Reilly,

woo)

1/4

WashingLon, D. C.
My dear Mr. Reilly:;o wish to enter a protest p..Ef.3.inst being
placed. in Dili trict

9, Minneapolis, Minn. of the

imioral Reserve 1-..ssoc1ation, for the reason that
the mail, express and passenger service from
Llinncapolis to thi

point is of tie very poems t,

our rail toking from 18 to 36 hours in transit,
and to mke the trip to Minneapolis and retiren
requires three days time.
the

',lore we placed in

n
%- i cage d is tr ic t , whore we ri -htfully belong,

our mail reached. us Ia five hours, we can m ko the
trip to and from chicago in 14 hours, giving us
8 hours to do business in Chicago.
doubtedly are a
am an

You un-

familiar with those facts as I

c'm readily son an, 1 realize the obstacle

we are under in being compelled to do buf mess
at Minm apolis.

UNITED STATES DEPOSITARY.

_

We trust you will use your utmost efforts in
having this district changed, if Possible, and
have this county placed in the Chicago d.i.otrict.
We assure you that we will very highly appreciate
anything that you may do.


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Federal Reserve Bank of St. Louis

With my kindest Personal regards, I am,

Yours very sincerely,

F- •
•

SEP 24 1914
Witif

...011 .1.111UM.0,MILW /1 ..
4
4.

•

TII E CITIZENS STATE
CAPITAL AND SURPLUS S I6 st_
c)

SIIMIOYGAN,WISCON,_ IN.

r) 1

e) • "

HENRY JUNG, Presidenr.
R.L.WH ITEH I LL,Vice President.
J.W. HANSEN,Cashier.
D.W HUENINK,AsSr.Cashier.

, 1914.

vy
Federal Reserve Board,
Washington, D. C.
vip
Gentlemen:

APR 1 4 1914
F
-1
00
„..,,

In the division of the country into Reserve
Districts in connection with the organization of the
new :Federal Reserve Banks I notice that the :Pastern
District of Wisconsin, including Sheboygan, has been
attached to the Minneapolis District.
This city is only fifty miles from Milwaukee
and one hundred fifty from Chicago. It is over three
hundred miles from Minneapolis and we have no direct
rail connection with the latter city. It takes a
letter a day and a 'alf to reach Minneapolis and six
hours to reach Chicago. All of our business is naturally tributary to Chicago and our Reserve Bank connections have always been with Chicago and Milwaukee.
Minneapolis is so unnatural a point for Sheboygan that
we have never thought of affecting any bank connections
there.
We therefore wish to protest against the anportionment of the Eastern District of Wisconsin to
Minneapolis. As a State Bank thP fact of such apportionment will certainly deter Us from goin- into the System
,
and I trust some means may be found whereby what seems t
be so unnatural a division may be changed.

ci

Yours respectfully,

;4,

if"'

1

......Li) 4 1914


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Federal Reserve Bank of St. Louis

,1013
1

Of.;VAD

• WEFEa UNI
/?,), TEL

fi:0116c68

WESTERN UNION

,,
714

THEO. N. VAIL, PRESIDENT

I.

VP

RECEIVED AT Wyatt Building, Cor. 14th and F Sts., Washington, D. C. ALWAY9
OPEN

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F740H FB 24

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-741
,4(

,--

SHAWANO WiS APRIL 8 1914

- c.

9 L...-

--7

SECRETARY OF TREASURY
WASHN DC
DIRECT CHICAGO CONNECTIONS COMPEL US
WHICH IS A DEVIATION FROM NURSE

TERRITORY
TO PROTEST BEING IN MINNEAPOLIS

OF BUSINESS BEING INCONVENIENT

WE ASK RECONSIDERATION


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Federal Reserve Bank of St. Louis

. /AAIN.v .,-,L. ..-....,...,
1
.
.
GERMAN AMERICAN NATIONAL BANK

Ii

._,E..i'

4

1914

4flait
822rMor.Pvi LS' '
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x

Form 1

WESTEUNI
TEL1v47, AM
"
WESTERN UNION

la81

b
E tOt
,iliq.' \R"

THEO. N. VAIL, PRESIDENT

RECEIVED AT Wyatt Building, Cor.14th and F Sts., Washington, D. C. A1
0

Ar

.2

F35CH F3 15
SHAWANO W18 APRIL E; 1914
SECRETARY OF THE TREASURY
WASHINGTON DC
WE EARNESTLY PROTEST AGAINST BEING

PLACED IN MINNEAPOLIS RESERVE DISTRICT

MUCH PREFER :11LWAUKEE OR CHICAGO
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Federal Reserve Bank of St. Louis

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UNITED STATES DEPOSITARY

CAPITAL $15000099
LAMAR OLMSTEAD, Prest.
JOSEPH ROSSMEISSL,V.Presr.
JOHN J. SHERMAN,Cashier.
Wt J. RON RAD.Jr.,Assr.Cashier.
4

Atilymataam4

April 6, 1914

Bon. Thos. Konop, M. C.,
Washington, D. C.
Dear Friend:
I wish to inform you that the bank
ers of the
Fox River Valley are very much opposed
to being attached to the
regional bank # 9, Minneapolis,
instead of to regional bank #7
at Chicago.
The business of the bankers of
the Fox River
Valley is all tributary to Chicago
and the mail service is
first-class to Chicago. We can get
mail into Chicago within
five hours time; whereas, we can get
no mail to Minneapolis for
twelve hours and longer and in order
to get return business it
takes over three days to do business with
Minneapolis.
Vone of us dreamed that considering the
railroad facilities and the mail service
that we would be thrown into
Minneapolis instead of Chic
ago.
There are many reasons otherwise why we
believe
that. the Fox River Valley should
be attached to the Chicago
regional bank instead of to Minn
eapolis and we wish to prevail
upon you to use your influence to
bring about a change. That is
by changing the Fox River Vall
ey and that portion East thereof
from the regional bank at Minneapo
lis to that at Chicago.


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Federal Reserve Bank of St. Louis

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#2.— Honfrokos. Konop.

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UNITED STATES DEPOSITARY

CAPITAL S150,00099
LAMAR OLM STEAD, Prest.
JOSEPH ROSSMEISSLy.Prest.
JOHN J. SHERMAN,Cashier.
W^_^ J. VON RAD,Jr.,Asst. Cashier

'LET
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April 6, 1914.

By so doing, you will confer a great favor
upon the bankers in your district, which will be highly
appreciated.
Kindly let me hear from you in relation to
this matter, and thereby oblige,


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Federal Reserve Bank of St. Louis

s very truly
_
Cashier.
//

TREASAY DEPARTMENT TELARAM.
WHERE WRITTEN:

Secmtrlry TroL,ury
Washington

A 1'11_4

FEDERAL RESERVE BOARD FILE
TA:
.3con3in 173.).21o2'o Ao.wciation,
Lilvaukee
7iGcunoin.
Your wire.

Linncapolis

includ -

Wizooman north of Vernon, Oauk, C:01111.b, Dodge, 7:
-whinz,ten,
Ozm,
leo counti6s.

South Wi000min incluled bn Chicase Diotriet.

Con-z.itteo ,x1.21not cormid!..:r ()inns()in Dietriets.

So oratory—

OFFICIAL BUSINESS.
GOMMERCI AL RATES.
COLLECT.


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Federal Reserve Bank of St. Louis

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MILWAUKEE Wis April 3 1014

HON SECRET AY OF TREASURY,
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Washington,D.C.
Some newspaper reports of Reserve Bank districts assign all
Wisconsin
to Minneapolis bank, while others assign that part south
of northern
line of Vernon county to Chicago. Please wire which
is correct. Would
any change be possible if urged by Wisconsin banks


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Federal Reserve Bank of St. Louis

Wisconsin Bankers Association
1027 am

virk/t....R:SE.RVE BOARD 1-ILE

division o(

,
•
adopted by the Milwaukee Clearing Housq_Associ • • pro Atpf. the
isconsin Territory as assigned to Regional Reserve, Banlics.., 4
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1 4 1314 a/

RESOLUTION

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WHEREAS; Believing that Chicago was certain to be designated as one of,the
it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a Reserve
City;
AND WHEREAS; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
THEREFORE RESOLVED; That the Clearing House Association of Milwaukee strongly protests against such
division as an injustice to the State at large; as of great detriment to the business interests of the City of Milwaukee;
,and not in conformity with the law which states "The districts shall be apportioned with due regard to the convenience
and customary course of business," and would further suggest that such division is in contravention of the Rules by
which the Committee states it was guided in selecting the District,—which Rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4000,000. required
for the Federal Reserve Bank, on the basis of six per cent. of the capital stock and surplus of member Banks within the
district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial, and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
()lily a very small percentage of the business of that part of the State attached to the Minneapolis District
is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the
provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the legitimat*
demands of the business of that district at certain sasons of the year. The small addition made to that Capital
by the Wisconsin part of the District cuts but little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the districts created."
This is covered by answers to three previous rules.
"Fifth: The general geographical situation of the di.trict, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The North and South lines running to
Milwaukee and Chicago are the principal transportation lines in that portion of the State and it is only in a few
Counties that Railroad communication •with Minneapolis is at all adequate. If District No. 9 remains as now
designated it will result in much hardship and inconvenience to the member banks and business interests, and
eventually curtail the present close relations that Milwaukee banks and business men enjoy with the Northern
two-thirds of the State and the Peninsula of Upper Michigan.
"Sixth: The population, area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its prospects for the future."
Carrying out this rule would unquestionably place the whole State of Wisconsin in the Chicago District.
The upper Peninsula of Michigan is also placed in the Minneapolis District. The trade of the Upper Peninsula
is tributary to Milwaukee and Chicago, and practically none of it is tributary to Minneapolis.
The reasons against the Upper Peninsula being attached to the Minneapolis District are (if such a thing is possiurtbsre- en in regard to the Northern part of Wisconsin.

c.

.
;EP 4

1914

iF(..)Rm(DC g)14)14


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Federal Reserve Bank of St. Louis

•

The Following Resolutions were Adopted by
Fox River Valley Banks
Whereas; Believing that Chicago was certain to be designated as one of the Reserve Cities, and that it would
be bad policy to designate another Reserve City in an adjoining State whose business was more or less tributary to
Chicago; the Bankers of Wisconsin made no effort towards having Milwaukee or any other city of the State made a
Reserve City.
And Whereas; the Reserve Bank Organization Committee has seen fit in making up the Reserve Districts to
divide the State of Wisconsin, attaching more than one-half to the Minneapolis District;
Therefore Resolved; That the Banks of Fox River Valley, Wisconsin strongly protest against such division
as an injustice to the State at large; as of great detriment to the business interests of this Valley, a vastly important
section of Wisconsin, extending from Fond du Lac on the south to Green Bay on the north, embracing all territory contiguous to the Fox River lying between the above mentioned cities; and not in conformity with the law which states
"The districts shall be apportioned with due regard to the convenience and customary course of business," and would
further suggest that such division is in contravention of the Rules by which the Committee states it was guided in
selecting the District, which rules were as follows:
"First: The ability of the member banks within the district to provide the minimum capital of $4,000,000,
required for the Federal Reserve Bank, on the basis of six per cent of the capital stock and surplus of member Banks
within the district."
The Minneapolis District will have the minimum capital without taking in any part of Wisconsin.
"Second: The mercantile, industrial and financial connections existing in each district and the relations between
the various portions of the district and the city selected for the location of the Federal Reserve Bank."
Only a very small percentage of the business of that part of the State attached to the Minneapolis
district is in the slightest degree tributary to Minneapolis.
"Third: The probable ability of the Federal Reserve Bank in each district, after organization and after the provisions of the Federal Reserve Act shall have gone into effect, to meet the legitimate demands of business, whether
normal or abnormal, in accordance with the spirit and provisions of the Federal Reserve Act."
The Capital of the Minneapolis Reserve Bank as constituted is certainly inadequate to meet the
legitimate demands of the business of that district at certain seasons of the year. The small addition
made to that capital by the Wisconsin part of the district cuts but. little figure.
"Fourth: The fair and equitable division of the available capital for the Federal Reserve Banks among the
districts created."
This is covered by answers to three previous rules.
"Fifth; The general geographical situation of the district, transportation lines, and the facilities for speedy communication between the Federal Reserve Bank and all portions of the district."
The mail, express and passenger service is of the very poorest. The north and south lines running to Milwaukee and Chicago are the principal transportation lines in that portion of the state and
it is only in a few counties that railroad communication with Minneapolis is at all adequate. If district
No. 9 remains as now designated it will result in much hardship and inconvenience to the member
banks and business interests, and eventually curtail the present close relations the banks and business
men have established with the cities of Milwaukee and Chicago.
"Sixth: The population,area, and prevalent business activities of the district, whether agricultural, manufacturing,
mining or commercial, its record of growth and development in the past and its o p ts for the future."
Carrying out this rule would unquestionably place the whole All' te
isconsin in the Chicago
District.
Date

Name of City

jib

Name of Bank

Alf/A0 ..
tgs-


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Federal Reserve Bank of St. Louis

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Federal Reserve Bank of St. Louis