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Show NEW LAW OPENS THE WAY FOR BUSINESS New York. June 30 Directors of the National City bank, it was an nounced today, have authorized application ap-plication to the federal reserve board for permission to establish branch banks in Buenos Aires, Argentina and Rio de Janeiro, Brazil Under the new currency system, national banks will be permitted to form such connections con-nections at home and abroad. R. O. Bailey, an assistant secretary of the treasury during the Taft administration, ad-ministration, and James Martlne. who has been In charge of the. customs securities department of the bank, are to sail for South America at an early dat to arrange the necessary preliminaries rtn |