OCR Text |
Show All Non-members of Federal ' I Reserve Urged to Join for J . War Time Consolidation. TO ASSURE STABILITY H Eight Thousand Institutions ' j.' With Enormous Resources j Expected to Comply. j WASHINGTON, Oct. 16 An appeal ' by President Wilson to the eligible- non-member state banks 'and, trust companies- of the country to. join the federal reserve system is relied upon to effect a general and speedy war-time war-time consolidation the nation's gold resources. The expected universal compliance with the president's-call will mean the ' mobilization of three billion dollars in tM yellow metal under thesupervision of the federal reserve board and the i tangible assurance of America's stal- wart financial stability. The president's . message is ad- , dressed to more than S.000 federal in- IH stitutions with resources of between twelve' and sixteen billion dollars, whose business is carried under the ', sole control of state banking laws. ' 4H Affiliation with the federal reserve , IH system will bring these companies' IH within the pale of national authority. , |