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At a special meeting of the Federal Reserve Board at held in the office of the Board on Friday, August 1, 1919, 11:15 A.., PRI:T: The Er. Er. Mr. :Ir. Governor Strauss Hamlin *:;illiams Chapman, Acting Secretary. Business was presented and disposed of as follows: The Governor stated that on Wednesday, July 30th, a meeting had been held with representatives of the Federal Reserve Bank of Kansas City for the purpose of discussing the recommendation of the Board of Directors of that Bank that the Federal Reserve Board authorize the construction of a ttenty story building on the site heretofore acquired by the Bank. The Governor stated various objections to authorizing the construction of a twenty story building, and added that it was the opinion of the Board members who had mot with the representatives of the Kansas City Federal Reserve Bank, that the needs of the bank would be amply met if it were authorized to construct a sixteen story building, which would afford approxiT.lately 100 per cent more office space than that needed for the present organization of the Federal Reserve Bank. Voted that the Federal Reserve Bank of Kansas City be authorized to expend approximately 3,000,000 in the erection of a building not to exceed sixteen stories in height upon the land Uo heretofore acquired by that Bank as a site for its new bank building. Letter dated July 31st from the Chairman of the Federal Reserve Bank of Richmond, requesting authority for that Bank to expend approximately '',80,0U0 in the installation .of a steel lining at least 2-1/2 inches thick for the vault of that Bank. Approved. The Governor reported the status of rediscounts between Federal Reserve banks and the reserve positions of the several Federal Reserve banks. RI2ORTS OF Crvt!ITTL."2: NO. 1: Dated August 1st, reoommendinfr admission of State institutions as set forth in the auxiliary minute book as of this date, subject to the conditions stated in the individual reports attached to each application. Approved. Dated Ausust 1st, recommendin approval of application of S. Waldo Coleman to serve at the same time as a director of the llercantile rational Bank of San Francisco, the Italian American Bank of San Francisco, and the Farmers & r.er3hants rational Bank, Santa Cruz, California. Approved. Dated Aui;ust 1st, recommending approval of applications fol. fiduciary powers as set forth in the auxiliary minute book as of this date. Approved. room'Amdin:: Li.diovai of the2oilf,)4dn Lationai 011ief of i3L•1rie in rea:.3az B4nh ' , #.‘ ' 7;rovin, r,ev.nhaLl, 2arker, T. .... Cooper, Geo. rorLiu J. Bun, W. J. Duunc, L. J. Donahue, Lurpiay, 3,6QJ 3,600 6,6* -•0 ,.5,9L)0 3,C),)0 3,3uu 3,300 (3,1/44t.), 3,900 6,000 4,50U :"UOU L. R. U. .-y,;c3,, 3. Cloe, T. ood, D. T. Gordon 2irney, T. J. Goodwn, J. B. 6tringf11, T. .... :letcher, '700 3,600 Z,300 6,9J0 .3,6 ,;,5L,L) 4,5uJ , 3,900 3,600 1,000 3,900 3,00 3,Cuu iL--nk 1:ationa1 BankZ..s..aminers: Prom J. C. LIcGrath, Paul Partrids'e, lobet Lonto4lory, B611 Hayes, Jr., H. C. Blackman, C. '-'. Beaty, Z. 0. Hubbell, H. Z. Hauen, ;111. L. 3*chechter, '..,:. D. Lobb, Da.:2iol V. Har:dn, C. 2. aiddell, J. L. :snnody, John 3. VJood, aichard .L. Hargreaves, j_lliarn :.:. :iorgan, .;,illiam a. Parker, C.H.Anheier, B.1:.Patterson, A. B. 3mith, Z. 3. Jernegan, Leis *;i1con, Thurston P. Axmor, C. A. Griffey, John A. Guthrie, J. D. llossman, ae:, , - ';',. Peel, Wm. H. need, M.'IL. Hutt, A. D. Thompson, J. it.. Thompson, J. ',. Liceynolds, Wm. Z. Hayes, .'.... A. Vavrina, A. L. J=es, L. H. Martin, L. M. Jawyer, Wm. Li. Gray, Harry L. Eachen, Martin McLean, Charles C. Otto, Oscar Thompson, Max C. i;ilde, Approved. 3,300 3,030 3,300 0,600 3,600 3,660 3,600 4,200 4,200 5,000 3,900 3,600 0,600 3,600 4,200 3,000 0,)00 2,700 2,700 3,300 3,000 0,600 2,703 2,4J3 0,600 0,000 0,600 0,6.00 0,600 2,700 2,706 3,000 2,400 3,000 2,700 2,400 3,300 4,500 4,500 3,300 4,500 3,300 3,600 0,300 6,00 3,900 0,900 3,900 0,910 4,500 4,500 5,500 4,200 3,900 0,900 4,000 4,500 3,300 4,000 3,000 0,000 0,600 3,300 3,900 3,000 2,700 3,900 3,300 3,600 3,900 3,600 3,300 3,600 3,300 2,700 3,300 3,300 2,700 0,600 5,000 4,000 3,600 4,300 3,600 -5- Dated August 13t, recommending reemployment of 'Ers. ai4. T. Burnett as'Assistant Librarian at basic pay of c-,d,440 per annum plus bonus at the per annum. rate of .Approved. Other business was presented and disposed of as follows: The Governor reported the purchase of special 2'7, certificates of indebtedness of the United states for deposit with the Comptroller of the Currency as collateral for Federal Reserve bank notes, as follows: For Federal Reserve Bank of: Chicago Dallas Date Amount July 31st 41,000,000 400,000 July 31st 'pproved. Letter dated July 30th from the secretary of State, enclosing copy of letter dated July 24th from Paul H. ndell, Trenton, 1ew Jersey, concerning the purchase of exchange on Hungary. Referred to the Acting Director of Foreign change for reply. At 12-45 the meeting adjourned. Acting Secretary. ;approved:
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