Show I I I I I I I I. I I COAST CITIES fAVOS FAVOR fAVO S SAN N FR FRANCiSCO FOR REGIONAL is BANK H SA SAN FRANCISCO Feb 2 Fin Finan Finan- Financial n. n cial cia and commercial supremacy geographic geo geographic graphic position and the weight of p population pop pop- p- p were urged today on Secretary I McAdoo of oC the treasury department and ana Secretary Houston of the department department depart depart- ment meat of a agriculture as decisive reasons rea rca sons why San Francisco should b bo be the site of the regional res reserve bank to be established on the tho Paci Pacific ic coa coast t under the tho new currency law Robert Newton Newton New New- ton Lynch manager o of the San Francisco Francisco Fran Fran- cisco chamber of commerce was tho the I chief witness His Ilis boundaries pf the territory tributary to San Francisco financially and commercially would in include in- in chide clude Washington Oregon Idaho California California Cal Cal- Cal I Nevada Arizona and aud parts of Utah and New Mexico ns a population of approximately San Francisco was classed by the tho fire firc insurance companies nearly all aU of which made their coast b headquarters head headquarters ad quarters here hore as one of the three metropolitan met met- centers of tho the Lynch said The other two wore New YorkI York ork and Chicago o. o The fruit and aud vegetable products exported ex cx- ported from California wore Vore estimated at for 1913 1013 and the tho total agriculture product of tho the state for forI forthe tho the same year was as asell given ell as Fifty ift per cent of nil all business done in the tho eight states which Mr Jr Lynch counted tributary to San Fra Francisco lc co was wab at handled he lie estimated through this CIty In S Seattle Sentiment was wa as unanimous that there thero should bo be a re reserve bank hank In tho northwest st st. Secretary McAdoo Sail said to today ar In Portland however howe t tie tle ie sentiment senti- senti ment was vas divided dl on this point some believing he be lieving ln that San Francisco w wits was s the proper loea location a In general the cities we MO have o visited thought timer they should havo a u bank b. and that additional t territory should be tal taken en enIn In where Irv necessary so as to make It po possible to locate th the reserve Institution I Some cities which havo been pressed Into districts by their more ambitious am am- bilious nel neighbors bors do not like this an and have entered proto protests t to us over such action action- Neither Secretary Houston nor I have expressed directly or Indirectly an any opinion or em- torm formed any conclusions on the bunking question now tho the subject of tho the Investigation by tho the organization committee commit commit- tee under tho the federal re reserve cr c act n nor r shall we do so until all tho the facts havu u been submitted Wo We are Impressed 1 with the great re responsIbility responsibility re- re resting upon u us and with th the tho necessity It for Impartial consideration of the views of ot all s sections of the country before a a d decision Is reached To avoid the tho possibility of ot misunderstandings we desire to say a t that at all Inferences and statements to tho the contrary may be accepted accepted ac ac- ac- ac as unauthorized |