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At a regular meeting of the Federal Reserve Board held in the office of the Board on Tuesday, January 5, at 11.00 a. m. PRESENT: Mr. Hamlin, presiding, Mr. Warburg Mr. Delano Mr. Harding Mr. Williams Mr. hiller Mr. Willis, Secretary. The Governor of the Board made a brief statement With reference to an announcement concerning the closing of negotiations with Great Britain, relative to the adjustment of the international indebtedness between the two countries. The Comptroller of the Currency presented to the Board a copy of a letter formerly written to the Federal Reserve Bank of Richmond and providing for the establishment of certain salaries at that bank. The Secretary of the Board reported fully with reference to the status of the salary question at 'Richmond. The minutes of the preceding meeting were read and approved. On motion, the special order for the day, the reading of the draft of the annual report to Congress was taken up. Alter the reading was finished, it was agreed that each member of the Board should hand the Secretary such corrections or suggestions as he might deem best far' incorporation into the report and that the Secretary consolidate the same, presenting the result to the Board for such further consideration as might be deemed necessary. On motion, at 1.00 p. m. the Board adjourned. Secretary. , APPROVED: Ohairman.
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