Ogden Daily Standard | 1913-12-31 | Page 2 | Will Not Need New Charters

WILL NOT NEED NEWJMTERS State and National Banks Enter En-ter New System by Becoming Becom-ing Stockholders. YVashincton, Dec 31 Banks which enter the Federal reserve system do not need take out new charters but both state and national banks become be-come members by making application and by becoming stockholders In Fed-' eral reserve banks according to a I regulation issued last night bv the reserve bank organization committee I In its annoupcement the committer commit-ter also set forth that action by a board of directors is deemed sufflcl enf to bring a bank into the new svs-tem svs-tem but advises that banks which wish to he on the safe side mav sound out their stockholders