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ci 4t a meeting of the :;xecative Arnmittee of the Federal Reserve Board held in the office of the Board on !riday, December 14, at 11.45 a.m., PAESEI;T: Lr. Warbur3-, presiding, Ir. =or, 4il1is, Secretary. letter addressed by Lr. irburg to 1.:r. J. ..,. Davis, local representative of the /lien Property Custodian, approving certain firms as depositaries to act as the holders of securities belonging to alien enemies, was read and on motion approved. draft of notice announcing the election of directors of the Pittsburgh Branch of the Federal Reserve Bank of Uleveland was read and approved. official telegram notifying government directors at Pittsburgh of their election was ordered transmitted. A telegram from Federal Aeserve 'gent Perrin relative to the banking situation in lalifornia was submitted and referred to Mr. arburg. A letter written by :Tr. .:arburg to Federal Aeserve Agent Hardy, relative to lumber acceptances aas read and on motion approved and ordered transmitted. carbon copy of a letter sent by r. .iarbarg to Federal Reserve ;gent Heath acknowledging, receipt of notice of the election of Messrs. E. L. Johnson and _I. .-7). qutchinson, was read and ordered circulated. A circular letter from Federal Reserve /gent Ramsey announcing the election as directors of E. K. Smith and J. J. Oalbertson, was read and ordered circulated. letter from Federal Reserve !gent Austin relative to the resifnation of Mr. J. D. Brodhead as director of the Philadelphia bank was read, and noted. A letter from Federal Reserve Agent ..-_,Astin giving the results of election of directors at that bank was presented and ordered circulated. letter from Federal Reserve ',gent ;ills informing the Board that discount rates at that bank have been brought into conformity with the recommendations of the Board was read and noted. telegram drawn by r. ;arburg and addressed to the Federal Reserve Bank of Boston, approving their proposed dividend, in accordance v.ith the report filed by Delano, was read and approved and orderel transmitted. The dividend thus approved was from December l, 1915, to De- cember 31, 1917. Other dividends reported upon by Llr. Delano were laid on the table until the nezt meeting of the Board. The minutes of the meeting of ;ommittee I'm. 4, held December 12, were presented and on motion approved. A letter from ?ederal deserve 'gent Y.artin, addressed to the Secretary of the Board with reference to certain matters concerning the organization of the Louisville Branch 'was read and referred to Governor Harding and Lr. Delano. The Secretary stated informally the results of 4 conversa- tion had on December 13 with Mr. 0. :I. .Atebery. A letter to the President of the Jhemang Trust co., of Elmira, N.Y., relative to certain oonditions relating to the admission of that institution, drawn by 1:.r. aarbur3, was read, approved and ordered transmitted. ;-..t 12.20 p.m. the meeting adjourned. (#7C) APPROVED: Secretary. Ch:_irman. 174
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