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1 At a regular meeting of the Federal Reserve Board held in the office of the Board on 1:onday, December 7th at 3:00 p. m. PRESENT: Er. McAdoo Lir. Williams Mr. Hamlin Mr. J/arburL; Ll.r. Delano Mr. Harding Mr. The Jecretary of the Treasury presided and Mr. H. P. Willis acted as secretary to the meeting. The minutes of the preceding me3ting were read and approved. 0 Warburg read to the Board a letter from Hope & 0' of Amsterdam. Regulations governing the admission of State banks to the 2ederal Reserve system, were read and discussed and ordered sent back to the Committee on State banks which formulated Committee with the instruction that Governor Hamlin sit with the • 9 and revise the regulations in such a way as to carry out the v1811( expressed in the course of the Board's discussion. A proposed regulation relating to savings deposits WO read and ordered mimeographed for distribution to members of tile Board and others. 426 Mr. Warburg read a communication from Governor Strong of I:ew York, relative to a proposed meeting of tne Advisory Jouncil, and on motion it was voted that the Governor notify the council to meet in Washington for organization on Friday of tne curi.ent week. It was directed that a telegram of invitation be sent containing tne statement that the St. Louis bank is on to point of electing a member of the Advisory Council, which will complete the membership of that body, and also stating that the Governors of tae banks nave advised the Board that tney expect to hold a meeting in Washington on the date specified. iiegulations relating to the purchase of warrants by 2ederal Reserve banks were tnen taken up and discussed. At 6:0„) p. in. the Board adjourned to meet at 3:00 p.. •• Tuesday, Decenber 8th. 1 /1 Secretary. APPROVED: Jhairman.
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