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a special-,..ectirg of the ?ederal feserve Board held in the office of the ovcrnor on “ednesday, p.pril 4, at 3 p.m., :r. 1Tardin=2:, presidint.1., Mr. lumliri, Mr. aillis, Secretary. aarbar, hr. Delano, The minutes of the meeting of the Board held on 3, and ipril 4, were read ard, on motion, approved. The ,uestion of receiving light-weiht gold • Federal eserve tanks was Informally discussed, but no action was taken. The Secretary of the Board informed the 'Board th-t he h:„..(1 received notice from Aderal deserve Igent 2.:artin of the resignation of Mr. T. O. rlupper, manager of the Oredit Department of the Tj'ederal aeserve Bank of St. Louis. The letter Was referred to the Chief Exam- iner. The Secretary of trio Board called to the attention of the Board a letter from the ?ederll eserve Bank of San Francisco outlining its plans with respect to the it- ue of 2ederal reserve bank notes. The Secretary of the Board read a letter from Federal eserve 'gent Liartin relative to the question of selecting a •Class J Director at. the Federal eserve Bank of St. imuis who should represent the ;ity of Louisville. The letter and the :thole question were referred to qovernor Harding for report back to the Board. letter from the Hillsboro rational Bank of rrillsboro, Oregon, transmitted by the comptroller of the Currency, with reference to withdrawals of gold from the banks of that place, was referred to the lovernor to be taken up with the Federal ieserve Agent at Can ''rancisco. letter from Lr. .Y1. F. Backus addressed to Honorable Hugh ,,allace in favor of the designation of Seattle as the site of a branch bank in the Pacific !:orthwest was read and noted. A letter from the 2ederal aeserve Bank of Philadelphia with reference to the salary status of members of its force who might enlist in the Army or Navy,was ordered referred to the governor's Conference, now in session, through L'r. Delano. 4tt7;47, On motion the Board voted to authorize the payment of expense vouchers in P.vor of Pr. O. .L,ttebery as follows: .„;61.65 37.10 17.65 Cleveland, Dallas, Yansas Mty, ,,ttlanta account From Et. LoUis to -:;ashington ',7ashington to Richmond and return Discussion of proposed amendments to the ?ederal deserve .ict and additional changes proposed by the Board, ensued. It was informally agreed to add to those already recommended a provision designed to encourage the movement of State banks into the system by the use of the power of taxation. Consideration was given to a proposed change in the mode of electing directors at reserve banks, but no action was taken. On motion at 4.20 p.m. the Board. adjourned. APPROVLD:
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