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At a regular meeting of tie 2ederal Reserve Board held in the office of the Board at 11:00 a. in., Thursday, November 5, 1914 PRESEITT: Mr. Hamlin Mr. Warburg Mr. Delano Mr. Harding 1.1r. Miller. The Governor of the Board presided and Mr. Sherman P. Allen acted as secretary to the meeting. The Governor of the Board presented a list of committees which might be considered discharged. The list of committees so discharged was as follows: For conference relative to directors to be selected for Chicago. - Mr. Delano. For conference relative to directors to ae selected for Philadelphia. - The Governor. To prepare a reply to Third National Bank, Scranton, Pa., Mr. Miller and Mr. Warburg. To request A. C. Wills of Pittsburgh and Richard L. Austin of Philadelphia to come to. Washington for conference. - Mr. Warburg. Draft of dispatch to be sent to Clearing 'louse Banks of San Francisco, relative to their participation in gold fund. - Mr. Miller. To examine and pass on proposed systems of accounting. Mr. Harding. On Permanent Staff.- Mr. Delano and Mr. Harding, with the cooperation of Mr. Allen. 306 Concerning securing ante-room for use in connection with the Board Room. - Mr. Willis. Concerning the question whether the title "cashier" or "secretary" should be used to designate the appropriate officer of Federal Reserve Banks. - :a% Warburg and Governors of Federal Reserve Banks. Payment of the first installment of capital stock of Federal reserve banks. - Er. Hamlin and Er. Elliott. Class "C" Directors in DistricLs named: NEW York, Philadelphia, Boston and Cleveland. - Er. Hamlin and Er. Warburg. Dallas, Richmond, Atlanta and Kansas City. - Er. Harding and Fr. Williams. Chicago, St. Louis, Minneapolis and San Francisco,Er. Delano and Fr. Filler. Letter relative to effective transfer reserves and payment'capital when banks are opened. - r. Hamlin, Er. Harding and Mr. Warburg. Salaries raid by Treasury Department for services clerk in office of Private Secretary, Er. Williams and Er. Hamlin. Foreign branches of member bans. - Er. Williams, Mr. Warburg, and Mr. Harding. Form and tenor of Federal Reserve notes and Federal .deserve Williams, Er. Harding, Mr. =or bank notes, and Fr. Delano. By-laws. - Er. Liner and Fr. Warburg. Local committees in central reserve cities, to act for Board. 'Fa'. Hamlin and Er. Warburg. Reserve gold and gold certificates carried by State as well as National banks. - Er. Hamlin. A dispatch from the Lawton National Bank was referred to the Secretary of th.e Board and Counsel. Harding Iresented a form of reply to the Ohio 3anl:ers Association regarding membership of the federal reserve bank in the Ohio Association. On motion the report was approved and the Secretary was instructed to reply as suggested. Harding read a report relating to the desi:;.nation of reserve cities under the new Act. On motion the report was ordered received and placed on file. The Jecretary to the Board presented a dispatch from 2ederal Aeserve Agent 3osworth regarding the question when federal Aeserve notes would be ready for distribution. The matter was referred to the :1;o1:.1,troller of the JurreAcy and the iecretary to the Board for relay. At ta.le suggestion of Lr. Warburg, the consideration of the report on commercial paper was resumed and the, discussion continued throughout the remainder of the meeting. Prior to adjournment the Jecretary, acting for Harding, submitted a suggested form of draft to be used by member banks in drawing on, federal reserve bans, the same being the result of the work of a subcommittee to which the subject had been referred. On motion the subject of issuing such a draft was laid on the table for the til,e being, Ilict the Jecretary was e/Z4r01.0.109C r!, —uruuTrup :CZA.OHriay 4urqsT6sv *. rpTereT. uo eta .c.1 00:0 4u 4eem op, peuanocps paroc ou,p, uoT4om U0 •s),Iurici ton s Jo esn eu.4 2UTpar2ea uoTuTdo ur JOJ attpiGV '31.102. V.01: JO 3Iurg 0AJOBGE °tn. Jo 3uoa40 aouaeAo traepej qq,Im eTucTunualoo oq. pe4ona4suT POR
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