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796 At a regular meeting of the 2edera1 Reserve Board held in the office of the Board at 10:40 a. in., on Wednesday, July 26, FR2SENT: Mr. Hamlin, presiding Mr. Williams Yr. Delano Mr. Warburg Mr. Harding Yr. Allen, Secretnry. Mr. Harding presented a letter to ;Senator Owen, Chairman of the Committee on Banking and Currency of the Lienate, replying to his request for a report on Senate 6483 introduced by Senator smith of lloryland, and this letter was, with changes, approved. A proposed letter to Breckinridge Jones, President of the Mississippi Valley Trust Company, presented by Mr. Warburg, was rend and with slight changes approved to be sent out. r In this connection, a slight change was made in the regulation covering Admission of State banks. On motion of Mr. Warburg, Er. Harding was appointed chairman of a committee on Clayton Act applications, the members of the Board to act with him upon applications from the districts of which they are in charge, Mr. Dulany and Er. Broderick, or someone designated by Mr. Broderick from his division, and Er. Jacobson to assist the committee. At this point "r. Williams withdrew from the meeting. On motion of Mr. Delano the Board passed the following resolution: That, because of the absence of Mr. Ray M. Gidney, Deputy Settling Agent, from July 31, 1916, and the absence of Mr. John De La Mater from July 31, 1916, it becomes necessary to designate two members of the staff of the Board to hold the combinations of the safe in which are kept the gold certificates evidencing the Gold Settlement Fund and the Federal Reserve Agents' Fund, Resolved, that Er. Gidney be authorized to deliver his combination to Mr. 11. Rozier Dulany, jr., and that Mr. 798 De La Later be authorized to deliver his combination to Mr. Henry C. Brook, both as of July 31, 1916, together with the custody, control, and responsibility for the said combinations and certifi cates held thereunder. Counsel's suggestion that in connection with the complaint of the Farmers State Bank of Galva, Texas, as to an agreementas to Interest charges by members of the Kansas City Clearing House Association, the matter be referrec to the Federal Reserve Agent at Kansas City with a request that he obtain a copy of the said agreement and sunit it with a report was favorably acted upon. There was discussion of the petition certainof banks in Wisconsin to be trnsferred from the Ninth District to the Seventh District t the close of wnich Governor Hamlin moved that the petition of these banks upon by the Board, b previously acted -opened, reviewed and granted as to the territory for which transfer ( is now desired, as shown by a map submitted by a committee of Wisconsin bankers and now in the hands of Mr. Harding. This motion was lost by a vote of two to two, Mr. Hamlin and Mr. Harding voting in the affirmative and Mr. Delano and Mr. Warburg in the negative. A letter from Auditor Townsend, urgin6rconsideration of the desire of banks • in northern Michigan to be transferred from the Minneapolis to the Chciago District was read and noted. On motion of Mr. Harding, Federal Reserve Agent Ramsey was authorized to be absent on vacation from August 2nd to September 5th, and Mr. L. L. Jester was, on motion of Mr. Harding, appointed Action Federal Reserve Agent in the absence of the Agent and Deputy Federal Reserve Agent, the usual bond of .U50,000 to be furnished and compensation 8( to be fixed by the Committee on Operation of the Federal Reserve Bank of Dallas, after obtaining the recommendation of the Federal .Reserve Agent. This later was revoked, Mr. Jes- ter not being a Class "C" director. The request of the Federal Reserve Bank of Boston for authorization to purchase 4100,000 State of Vermont anticipation revenue notes, due September 15, 1916, was referred to Ur. Delano with power to act. Adjournment was at 12:10 p. n., until Friday, July 28, at 11:00 a. m. Secretary. APPROVED: Chairman.
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