Chapter LXXXVII: Section 123: That as soon as there have been organized at least one

thousand local associations and at least twenty State associations, as herein provided, the President of the United States shall be notified of these facts, and he shall thereupon name a time and place in the city of Washington, District of Columbia, for the organization of the National Land Credit Bank, and he shall advise all the local associations whose names and addresses have been furnished him of such time and place of meeting and the purpose therefor.