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p 5,10 7ederal deserve Board :It a special meeting of the' held in the office of the Board on Thursday, :ay 24, at eleven a.m., PliLEENT: .tarburg, presiding, r.r. Hamlin, .illis, Secretary. Mr. Delano, Mr. 1..aller, The minates of the meeting of the T3oard held on Thy 22 were read and, on motion, approved. The minutes of the meetings of the li,xecative ,;ommittee held on May 23, morning, and :ay 23, afternoon, were read and, on motion, approved and the action therein set forth ratified. memorandum prepared by Jhief Lxaminer 3roderick with reference to the acceptance of examinations of ZAate institatious by 'State authorities generally, in the following States, was read and, on motion, the recommendations therein set forth, were approved, and the acceptance of examinations in the States named was .i.uthorized: .tlabama 'Illinois Kansas Louisiana Massachusetts Michigan Minnesota Missoari Texas Nebraska Virginia New Jersey ',Iisconsin Ohio South a/rolina 5f54 special report of the Chief Examiner relating to the recently reported shortage in the accounts of the Federal Ileserve Bank of Cleveland, was presented to the Board and, on motion, ordered circalated. \, The jecretury of the Board read a. letter prepared by Ur. 1•'arburg for transmission to Federal Lieserve Jgent 1, the Jay agreeing to a proposed day to th,y rate of 2 - 4; letter in question having been considered and ordertd sabmitted by the Executive Committee. On motion, the transmission or the form read, was authorized. ) The Secretary of the Board presented communications from the Federal resolution of eserve Bunk of .'itlanta transmitting a e Board of Directors with reference to increases of the lower salaries at the bank. ications were referred to the The commun- ornmittee on Et&ff. 4... letter from President /7. U. Carpenter of the Citizens Bank of Portland, Oregon, with reference to a proposed amendment to the Federal lieserve 1,ct relative to the admission of small state banks, was presented and, on motion, referred to the Committee on Law. teleL:ram from Federal deserve :gent Hardy naming a rate of 31,4.) on 90 day notes secured by Government bonds, it under the Bo,...rd's recent circal-r, was read and, on motion, the rate re.iclested was approved. The minutes of a meeting of the ,lommittee on ton ct held on 1.:ay 22 were read and, on motion, approved, and the action therein set forth ratified. ... letter from the ,,estern F,conomic society addressed arid inviting him to speak before the society to on June 21 or 22, was read and, on motion, it •as voted that -incr accent the invitation at his discretion, at the expense of the Board. .,, letter written by . Tlaralin to Vice Governor r- burg with reference to certain suLzestions of Governor Ltrong as to the effect of the 7ard4ick .mendment upon chrges on Government checks, was read. On motion, it was agreed that lamlin transmit „, copy thereof to JILArman lass for the information of the latter. On motion, at 11.15 4.M. the Board adjourned to !eet on 7riday, ::_ay 25, at eleven a.7. Se,:retury. 44.1TXVLD: hairman.
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