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At a regular meeting of the Federal leserve Board held in the office of the Governor on 7riday, June 1 at eleven, a.m., P:RULY,T: Mr. Harding, presiding, Mr. Hamlin, Mr. Warburg, Mr. Miller, Mr. Delano, Mr. Allis, Secretary. The minutes of the meeting of the Board held on May 31, were read and, on motion, approved. telegram from governor Miller of the Federal Reserve Bank of Kansas City, asking permission to issue $10 certificates of participation in the Liberty Loan Bonds, was, read and the Secretary directed to telegraph him to the same effect as in the case of the Federal ieserie Bank of Chicago on May 26. A men or: by Mr. Warburg with reference to the 1iiatton of' the State of California in regard to foreign banks operating there, was presented and, on motion, ordered circulated. , The application of the Fourth Motional Bank of Macon, for trustee powers e::ecutor, trustee; administrator ,o, nd registrarof stocks and bonds; was, on motion, approved 581 upon the recornrencIation of the Committee on lIember -nd State Banks. Governor Harding read certain resolutions "hich, he stated, had been adopted by the National Credit !.:en's .,ssociation of the United rtates at a recent meeting at Cincinn ti. in re:;Ird to the 7ardwick Yritendment, ,nd also a letter :ritten by himself to the Cecretary of the mreacury regarding the attitude which he personally had recommended .rith reference to the proposed arencielent to the '?ederal Reserve :_ct, in view of the possible insistence upon the Tiardwick 'mendment in on:;re:-,e. Discussion of the Board's attitude on this luestion ensued, and in order tentatively to establish how members would stmd on the luestion the following tentative propositions were adoptei: That the Board was extremely desirous to see the President of the United States use all possible influence in favor of the crdontion of the Conference eport on the pend- ing amendments now in the hands of Chair= alass. That in case the 7ardwick :rnendment should be restored in its original form through the action of one or both houses of Con3xess, the Bo-rd would prefer to see the measure become law rather than to be subjected to the Presidential veto. This proposition NUS adopted by a vote of three to two, r.'Hamlin and Mr. Liller voting in the negative. Delano stated in explanation of his vote that he favored this action not because he favored the Hardwick Lmendment but because he believed the 'charge system could be enforced notwithstanding. Mr. 4arb2rg concurred. 1,:r. Delano reported -that the Committee on Operation of the Federal Reserve Bank of .,'Alanta had considered the plans for the new building for the ltlanta Bank, and recommended their approval. On motion, the plans were ordingly approved. Mr. Hamlin presented certain correspondence with persons in the Minneapolis District with regard to the rendering of banking aid to farmers in that district, and a draft of a letter to be sent in reply to Inquiries. On motion, at 12.15 p.m. the Board adjourned. .01PdOVLD:
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