Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, June 27, 1919, Volume 6, Part 2

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At a meeting of the ::,xecutive Committee of the Federal
Reserve Board held in the office of the Board on Friday., June
7, 1919, at 12-30 P.M.,
PRESLNT: The
Mr.
Mr.
Mr.

Governor
Hamlin
Miller
Broderick, 2ecretary.

Letter dated June 26th from Mr. Fred I. Kent, tendering his resignation as Director, Division of Foreign Exchange,
ithieral Reserve Board, effective July 1, 1919.
Voted to accept the resignation. The Governor was authorized to send to Mr. Kent on behalf of the Board a suitable letter expressing
appreciation of the services rendered.

r:

Letter dated June 21st from the Secretary-Treasurer of
the. rational Association of Supervisors of state Banks, enclosing by direction of the Association, a copy of resolution
adopted at the Annual Convention, June 11, 1919, recommending

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to Congress the abolition of the office of Comptroller of the
Currency.
Noted.
Letter dated June 26th from Federal Reserve Agent Curtiss
at Boston, recommending appointment of Charles F. Gettemy as
Assistant Federal Reserve Agent at a salary of 4,5,0U0 per annum,
to take the place of L. B. Spear, whose resignation will be effective July lot.




Approved.

Telegram dated June 26th from the Chairman of the
Federal Reserve Bank of San Francisco, inquiring if the Beard
would object to the Bank providing for a post office substation, including vault, in the plans for the construction of
the new building for that Bank.
Voted that Mr. Perrin be informed that the
Board sees no objection to making such provision
in the plans, and that application for the establishment of such substation should be made to
the Postmaster at San Francisco.
Letter dated June 26th from Deputy Governor Case of
the Federal Reserve Bank of New York, with reference to the
allotment to other Federal Reserve banks of a portion of the
deposits held by the Federal Reserve Bank of rew York for the
Argentine Republic, and also to the proposed purchase of German
gold marks.
roted.
Letter dated June 26th from the rational Thrift Bond
Corporation, relative to the antagonism encountered from bankers
in connection with the introduction of thrift bond Savings
system.
Referred to the Governor for reply.
Letter dated June 2uth from Acting Secretary of State,
enclosing a copy of letter received from the General Motors Export Company relative to the British restriction on the import




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of automobiles, requesting an expression of views on the
subject of the communication.
Referred to the Governor for reply.
Letter dated June 26th from :lir. E. R. Kenzel, Uanager
of Investments, Federal Reserve Bank of New York, enclosing
for the confidential information of the Board, schedule showing the amount of street loans held by reporting banks for
their own account and for the account of correspondents.
Ordered ciroulated.
At 1-30 P.M., the meeting adjourned. '

Secretary.
Approved:




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