The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
At a meeting of the Executive Committee of the Federal Reserve Board held in the office of the Governor on Monday, February 25 at 3:15 P. M., PRESENT: Mr. Harding, presiding, Mr. Hamlin, Mr. Warburg, Mr. Willis, Secretary. The Secretary was directed to prepare a complete list of licenses granted for the exportation bA ;gold since September 7, 1917 for transmission to the Secretary of the Treasury. Mr. Harding presented papers relating to the unrestricted endorsement of paper by Federal Reserve Agents, and a proposed amendment to the Federal Reserve Act designed to provide a system of joint custody of paper held to protect Federal Reserve notes. On motion, the proposed amendment was approved. . Governor Harding read a letter from Federal Reserve Agent Wills re rates of interest on bank balances in the Fourth District, which was noted but no action taken. A memorandum from Counsel re the conversion of savings into national banks in California was read and referred to Mr. Hamlin for examination. At 3:30 P. M., the Committee adjourned. APPROVED:
@FedFRASER