Evening Republican, Volume 18, Number 111, Rensselaer, Jasper County, 11 May 1914 — FUND FOR FEDERAL BANKS SUBSCRIBED [ARTICLE]

FUND FOR FEDERAL BANKS SUBSCRIBED

Subscriptions Mailed Yesterday To Be Received by’Committee—Hamlin May Head Reserve Board. Washington, May B.—The reserve bank organization committee announced tonight that while this was the last day on which subscriptions of stock to federal reserve banks would be made by banks that are to become members of the system, it would receive such subscriptions as actually were forwarded today, although they may not reach Washington for several days. The penalty for not completing subscriptions is forfeiture of the charter of the bank. The committee’s mail today was heavy and included hundreds of subscriptions of stock, but no official statement of the receipts was made. ' President Wilson has under consideration names of several men for the place on the federal reserve board left Vacant by the declination of Richard Gluey to serve. Among those considered is Charles S. Hamlin, assistant secretary of the treasury, now acting secretary. Mr. Hamlin is from New England, the section from Which the selection is to be made.