Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, April 22, 1918, 11:25 AM, Volume 5, Part 2

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AX a regular meeting of the Federal Reserve
•

Board, held in the office of the Board on Londay,
22, at 1l:2o A. M.,
PRZiaLLT:
Mr. Harding, presiding,

Mr. Delano,

Mr. Warburg,

Ur. Willis, Jecretary.

Lr. Miller,
The minutes of the meetin: of the Board
held on April 20 were read and, on motion, approved.
The minutes of the meetings of the Gold
port Committee, hold on Aril 20 and 22, were presented and, on motion, a?proved and the action therein set forth ratified.
41 letter from the National Association of
Cotton Manufaoterers, re a proposed chanfTe in methods
of financing cotton, was presented and, on motion,
Governor Harding was authorized to attend the session
of the Association at New York at the expense of trio
Board on May 4.
The resignation of L.

Gottlieb, effective

May 8, was presented and, on motion, accepted.
Reports of Committees were approved as follows:

1.

No

Dated April 19, recommending the appointment of D.
inger as assistant file clerk
(Capital Issues Committee) at 3100
per month, effective April 22.
st

22, recomaending the appointment of
Mr. William B. Dorsey (Division
of Reports and Statistics) at
31,200 per annum, effective April

If

ro.

22, recommending changes in salaries
at Dallas.

2.

Dated April 22, recommending the admission of banks
upon terms named by the Committee in
each case, as follows:
The Guaranty State Bak, Mt. Pleasant, Texas.
45 shares in the Federal Reserve Bank of Dallas.
First State Bank, Grand Prairie, Texas.
27 shares in the Federal Reserve Bank of Dallas.
Mercantile Trust Co., Little Rock, Arkansas.
216 shares in the Federal Reserve Bank of St. Louis.
No• 3•




Dated April 19, recommending powers as trustee, executor, administrator, and registrar for
the Fort Worth National Bank, Fort
orth, Texas; American National Bank
of St. Joseph, Missouri; First National
Bank, :!;nglewood, Colorado.
The application of the Cumberland Valley
National Bank of Nashville, Tennessee
for fiduciary powers was ordered held.
20, approving the applications under the
Clayton Act of Messrs. J. D. Henderson,
N. W. Dennett, F. V. Norris, and C. I.
Campbell,

368




Committee on Federal Reserve Bank of Chicago.
Commenting on the recent report of examination o
the Federal Reserve Bank of Chicago, dated April 13.
On motion

at 11:5

A. Y., the Board ad-

journed.
AFPROVLD:

Secretary
Chairman