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Show RATES Of IIEKEST 'I Secretary McAdoo Believes Many Banks Are Treating Treat-ing Public Unfairly. GIVES THEM WARNING Institutions in Reserve Cities Are Urged to Be Liberal With Funds. WASHINGTON. Sept. 25. Continuing his campaign against high interest rates and (lie boarding of money by banks, Secretary McAdoo tonight made public a list of nearly S.i'j national banks, in all sections of the country, outside reserve and central reserve cities, which are carrying reserves in excess of legal requirements. re-quirements. The list is based on reports to the comptroller of the currency In answer to his call of September 12. It shows that the reserves in these banks run from 25 per cent to 74 per cent, the legral minimum beins 15 per cent. "Ii"," said McAdoo, In a statement given out with the list, "the large amount of loanable funds that are kept .from ac tive employment, as indicated by these ; figures, was invested in commercial or a gricultural paper, or loaned on proper security, the present situation would be greatly relieved." The! secretary's statement referred to the list as showing1 "some of the national banks carrying excessive reserves," and it was understood tonight that further lists would follow. In accordance with his recent statement. Secretary's Telegram. Secretary MeAdoo's telegram to the New York, Boston, Chicago and St. Louis clearing house chairmen said: I have received complaints about the high rates of interest which are reinsr cbareed bv the national banks of New York, Boston, Chicago and other reserve cities. It is alleged that the New York banks are requiring their correspondent banks throughout through-out the country to pay 7 per cent for loans and to maintain a balance with the New York banks, which makes the money cost the correspondent banks the equivalent of S per cent or ; more. Specific cases have been brought to my attention where banks in cities of the south have been required re-quired to pay thesV high interest rates. . If New York charges the equivalent of 8 per cent interest to the correspondent banks, the money cost to the ultimate borrower is made very high, if not exorbitant. From all the evidence before me, I cannot feel that the charge of 7 to S per cent interest by the New York banks is justified in the circumstances. circum-stances. I have taken the position witn all the banks of the country that I will not knowingly issue additional addi-tional national bank currency to or deposit government funds with hanks which charge excessive rates of interest, in-terest, or which are refusing to meet legitimate demands for reasonable credits. 1 I have also taken the position posi-tion that 1 will withdraw government deposits from national banks which are hoarding money and restricting credits through the maintenance of excessive reserves. The New York banks generally have not been hoarding hoard-ing money or maintaining excessive reserves, but they appear to be charging higher rates of interest than the conditions seem to justify. Strong Appeal Made. I am using every argument to persuade per-suade tiie banks throughout the country to extend reasonable credits, and at reasonable lates or interest, to ,meet the existing unusual conditions condi-tions created by the European war, and which, if dealt with in a helpful help-ful spirit by all concerned, should quickly ameliorate. I should like to Sfct the New York banks take the lead in establishing and maintaining moderate rates of Interest for accommodations, accom-modations, as tneir example always has a large influence upon banking action and sentiment in the country. If this course Mr pursued by the leading banks in New York and other great money centers, a ral public service will be rendered and a return m normal conditions of business will he quickened. I ha ve been i.ing to tin- utmost every power of this de-pHrtm- n: t'j assist t he enf-ra I business busi-ness situation and the banks, and I ask onlv for uo-opp.ra nun on the part oi t'e banks ir. an unselUsh and patriotic pa-triotic t:-int. MeAdoo's List. In Secretary MeAdoo's list, showing the prrcntare of resrvs carried by each bank, a re the following; I Texas Fa rmers and Menii? nts Na tional, Comanche. 41 per cent; State. National. Na-tional. K Pasu, 52 pr cont; Krmis National, Na-tional, 41 pT cent; Ferris National, 4i per cent; First National. Frost, 5u per I'f-ni: National Bank of Grand Saline. AT per cent; Hamilton National, -17 pf-r rent; Javk.iboro National. U per ceni; First Nai ionai. Kaufman, '7 per jenl ; l-'irnt National, Kemp. 71 pT cut; First National. Na-tional. Valley Mills, -12 prr emit; Victoria Vic-toria National, -15 per cent; National Bank of West. 47 per ont. ' Iowa Union National. Ames. 45 p'" cent; Centerviile National, 40 per cnt; First National, Gov.rie, per cent; First , National. Jal va, per cent ; First Na- ! lkra I. Tndianoia. 27 per rent ; Farmers i Na t ional, Kingslcy. per -nt ; Com mercial Na tinria 1, Wa tr-rloo. 'J 7 per cent. South Dakota First National. Dead- i wood, 'A per cnt: Scandtnaviun-Ameri- i (an. -ioux Falls, per cent; Minn ha ha, j National, Sioux Falls. 2Z PT C-nf ; Himix ! Fa IN Nn f iona !. IS per ctit ; First Na tional, Waienown, :') p-r cent. Nebraska First National. YVinor, "4 per cent; Citizens National. Winner. 34 ,rr cent; First National, Wymote, 2rJ per j cent. 1 Montana. Mont a na First Nat iuti:i ), I'.uMc. 41 p"f r-nt ; !'-; lowstijiif Nn ti.mii 1, HilllnCH. ?S per cut: Firt National, irent Falls. ?,J, per ctfnt; First National, Glasgow, :'0 per 1 cent. V yon dug -First National, I mijtjufi. If p-r ("nt; I'onlas National. Mo'-yiu.s, ( , r cent; CaMp.jr National, (Jasper, L'T cr cent. ( 'nlorudo ,'olorado Spring Na tional. :;j p'-r (flit; KaH,.-!!'- Na'ional. (,!-iado (,!-iado Springs, ?. per rent; First NatKmul. Trinidad. X', ' per c'-nt. New Meii-o -''lovis NnHonal. riovla," per .'-nt; KirM National. Santa Fe. ::'. per cent ; A mcrii an National, Tucii-rna'i. Tucii-rna'i. 71 per ""tit. rkla homa Na t iona 1 nf .';i re morn, per c'- ti t : ' it iz-n Na tional. )'A It' no. '.' jiff t-cu'i : Fa nri"rs a rid M ci cha nt h Na -t ionr.l I I'-iiti"!,!";y. -II per rent; Flrat Na-1 Na-1 Iona ', MofiH, 4') p"-r cut : First Na-tio,ial, Na-tio,ial, Nov;ita. ,'; I P-r cent; Arkansas-Yh Arkansas-Yh I Icy Na tioria 1, Cn wnf-i", .",2 1"T cti t ; I i-H i Na lioiia I. Ii iur. '.'.? p'-r cent ; m'-ii-an Nation;.!. f-'aimlpa. .11 P'-r . r.f,r Ki-Bt N,i tof::, l. S ( 11 1 wa i -r. ?.:. per ,(;iit: Vitilta Nnliotial. Vmitia, liC p'''" ..-nt; Slat'- National, Slifiwrif', '.'.'i pr-r 'jii; Ani'-rWan N;itionnl, Tulsa. 12 p-r -f n t ; J-'lrsi National, Tulsa, 7,Z per cent. Stale of Washington. YVu:-'MjiKfnri-l'"ir't N;itlori:il. llellini;- ' lam. :iT p'-r-'f-nt; V.kiina Nalional. North Vnklrnn, .'tf p'T 'nt; t'aplial National. Oivrnpla, 41 p'T f-i.t. f trefoil I ii f t Niiii'iiml. Vale, .la per cnt r;,lffornln -Fi'-'mo N':itlonal. Kino, Ti'i jrr -nl ; Flrw! Na l iona I. I "r 'no, fi per j ffirt ; I ! i st Na I Iona 1, I la r I '..; k . 'M p-' cent ; Nat Iona 1 Pa nk of Lnnp Reach. 22 per cent; MnClond National. MrClnud, 41 per cent; First National, 'asn Rnoles, T per cent; 1'rdon ,V;i t Innul, Pasadena, 2' per cent; F1r?t National. Santa Cruz. 43 per rent; Santa Cruz Oumlv National, Santa Cruz, W per rent; T'ninn National. S;i n nU'i'o. 4 1 per rent ; First National. Wllmincton. 47 per cent. Nevada First National, I-ovelnck, 43 per cent; Nixon Natlnnal, Reno. 20 per cent. A rl zona First Nn tional, Torn hn tone. i per cent. |