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Show iliCiS GOLD WANTED i mm Bankers' Committee Has a Plan to Raise $25,000,000 at Once; More Later. WASHINGTON, Sept. 8. The bankers' committee Clan for meeting American obligations to Europe with gold payments, proposed to the federal ronerve board Inst week, was taken up today by the board. Jt contemplate a sold fund contributed by national banks In reserve and central reserve cities of S150.000.WO, of which :o oon eon Is to be made immediately available. A decision may bo reached by the hoard tomorrow after an examination of evorv possible result of Its approval. Following Is the committee plan as made public tonight: That the banks of this country, especially those located in reserve and central reserve cities, be requested to contribute to a gold fund of Sl.iO.OOO,-000. Sl.iO.OOO,-000. of which ?2:.,00u,0u0 is to lie Immediately Im-mediately paid Into the depositary of the Hank of England in Canada, for which a participation deposit receipt will be furnished to each contrlbut-injr contrlbut-injr bank, the remainder of the contributed con-tributed amounts to be subject to call by the New York committee through the local committees of the respective dries and to be paid for In Now lork exchange. Raid Nerw York committee to be appointed ap-pointed bv the New York Clearing House association and said local committees com-mittees to be appointed by the clear-in? clear-in? house associations of the respeo-tlve respeo-tlve contributing cities. The committee commit-tee appointed by the New York Clear-Ins; House association to be charged with the duty of handling the said fund, of flxlnK the , price at which foreign exchange is to be bought and sold, and Is to make requisition re-quisition from time to time upon the respective contributing cities through the local committees thereof. Said local committees sliall have supervision super-vision In the respective cities of the shipments and general withdrawals of gold. 1 This committee recommends that the federal reserve board take steps to ascertain the amount of gold that will be contributes by the banks in the respective cities and that It use its Influence to have the said banks contribute their proper pro rata. |