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Newspaper
Charleston Gazette
Location
Charleston, West Virginia, United States of America
Date
Jun 10, 1925
Page
2
Washington June 9 Vice Governor Platt of the Federal Reserve Board urged wider use of branch banking as safer for depositors and communities in an address prepared for delivery before the Credit Men's Association. The statement emphasizes branch banking as a fundamental safety measure.
Mr. Platt, speaking to the National Association of Credit Men, argued that broader branch banking would curb failures which have plagued small institutions. He cited rural banks, inadequate safeguards, and the need for larger banks to spread risk across industries. He urged amending national banking laws to require minimum capital of 50,000, downplaying small independent banks in agricultural areas.
The era around 1924 marked the agriculture industry as the central economic driver, with most enterprises engaging in farming related trade and production, shaping the period's business landscape.
Virginia firm, recently acquired from Gould Interests, aims to extend water power properties and expand development rights, signaling a strategic push into regional energy infrastructure and renewable generation.
A New York syndicate led by Frank J. Gould and Stone of New York acquired control of the Virginia Railway and Power company for about 2 million dollars, with additional investments around 3 million in bonds and other public utilities. The deal spans Virginia cities including Richmond Norfolk Petersburg and Portsmouth and involves trolley and waterpower properties.
The readable fragments mention a Pennsylvania Power company deal valued between 250 060 000 and 60 000 000 dollars and reference Uivernsot nine miles layout. Additional lines mention British occupancy and Jerusalem under Muslim rule, plus Mammoth Cave Kentucky requiring extensive travel to explore its chambers.
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