Show PUN FOR RESERVE MONETARY commission WOULD GUARD AGAINST WALL STREET CONTROL OF association financial institutions of new york would control less than ten per cent of the total representation in proposed institution washington the monetary corn cam mission a plan for a national reverle reserve association when it goes to congress will provide for an organization so constructed that the fin eions of new york would control less than ten per cent of the total depre sen tation in the central association although they possess fully 30 per cent of tho the banking capital this will be done to guard against ao so called annall street control of the proposed institution which would largely supplant the united states treasur ami and lier perform form functions of at a national fiscal agent the south with about ten per cent of the banking resources of the coun try would control 23 per cent of the representation in the reserve asla assyia tion new angland with 12 pe per ir cent lent of the banking capital would have 8 per cent the middle west aitu 23 25 per cent of the banking capital 30 per cent and the far western and P states with about 13 per cent of at the banking capital approximately 25 per cent prescribing euch such a method of or id bs enid said to remove corn COM plemely the possibility of control ot of the reserve association by any single group of at men clifteen branch associations are provided tor for one in new england two in the eastern states four in the south four in the middle west and four inthe in the far west to control the reserve association it would be necessary to control a majority of the branches this is in considered impossible |