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Show "f; j ' e" ' rfc o u i, ; - a sip blaJ J i cJi A IS '. a 3 j gei 7 rer-. 2 a ci fj ? - a ' v Ls 5 rJi ? tv' tl b Twelfth District Reserve Branch Has Aided Large District i The Salt L.ko City branch of the Twelfth District Federal lieserve bank, has made q permanent name 'and place- for Itself in this state and ! southern Uiahn. the BUb-distrlct w ith a radius of 350 miles, which it has ! been serving efficiently now for , ne.ir:y four years, and continues to, show Itself a valuable stabilizer and assistant to the 1M banks Within be I membership. From a mere hjtpdPul 1 of employes in cramped Quarters the I bank has grown until ft now occupies three floors of the new Oeseret Band 'building with oo employes. Bui even now, the present quarters are too, small and officials and cmifloyes are anxioub to see erected quickly the 'fine now building " promised on the site of the historic (Jardo House, at Btate and South Temple .-tri-ds Tin-corner Tin-corner was purchased last spring by ihe parent bank from the "Mormon" Church for $115,000. i he management of the branch bank includes R. B .Motherwell, I succeedinu Charles H. Stewart, ap pointed assistant deputy governor i ! ot the San JFVanoisco institution; J. i Oalbralth assistant manager; Paul M Lee and J .i- Lelsner, assistant cashiers The parent bank offji sra are John I'. Calkins, gocrnor; William Wil-liam A. Day, deputy governor; Irej J Clerk and L. C. I'ontlus. assistant 'deputy governors; W. N. Ambrose.; i cashier There arc nine directors with John I'errln chairman of the board, for the parent bank, and five directors for each of the brank banks In this city. Los Angeles, Seattle. Portland and Spokane. The Salt: I lake directorate Includes R. t Motli-, I erwell, G- G. Wright, general manbver of the Consolidate,) Wagon A Machine company L. H. Fnrnsworth. chairman chair-man of tho board of directors ( Walker Bros bank. Chapin A. Day, I i ' siueiit io i-i ortiand Cement company Osden; LAfayette Hanchett, president of the i'tah rower & Light I comDan . :: i i s i:i LOW i RED Two reltictions of the rediscount) i rate have been made the past year i by the federal reserve. l-U of 1 per ! cent a h time so that whereas at th i beginning of the year, the rate was; 6 per cent, it Is now s per cent, with1 , the money market growing easier! I The loans made ny the Salt Lake i branch during tin- year amounted td l8,000.000 less than lasl year, which lis proof of the statement relative t" easier money conditions, for v. Ion people me borrowing iess money, m-lerest m-lerest rates weaken corresponding;!) The local management Sees no rea-' son w hv better times should not be anticipated with the opening of -he 'new year, but advises, ' Bit tiht. take courage, and hold faat." There are some features of federal: reserve administration that are of value to know The entire ef:l re-' serves of all member banks must bei kept on deposit with the federal rc- , serve banks. Cn this account Congress Con-gress has thrown safeguards and llm- i Itatlons around their loan transactions. transac-tions. It is. necessary th it these1 banks should keep themselves in whs) Is called " liquid condition,' that is. their bills discounted must be ol bort maturity, and readljy collectable. collect-able. The strength of the country's banking system is iiir.cM related toJ the strength of the federal reeerve So If sny reserve bank should fludl Itself weak or over-extended, all the r 'ber banks would be directly af- tected Hoards of directors must treat all members alike, and ex' nd to each auch discounts. advunce-, incuts and accommodations nia reasonably be made, with due regard, tor claims and demands of other member banks. The Federal ii serve Is not B central bank, but a re-' glonal system of r.' banks. for th system waa organized under the theory the-ory that it would be Impracticable, in a territory so vast as the Onltedl States, for a central board to Intelligently Intelli-gently pns on the security ol paper offen d for discount coming from all sections of the country. Reserve banks are not permitted i0 make! I'p.ins dlrectlv to Individuals, firms orj corporations. They -an only redls-i count paper Indorsed bj a member 1 f |