The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
943 a reular meeting of the Federal Reserve Board held in the office of the Governor at 1L noon, on Saturday November 6, PRESENT: 1,:r. Hamlin, presiding 1:r. Thrburg Yr. Delano Lr. Harding Williams Mr. Miller Er. Willis, Secretary. The minutes of the meeting of November 5, were read and approved. Harding moved to reconsider the action taken at the meeting of November 5, authorizing the Branch Bank of New Orleans to engam in certain open market operations at a rate not to ezceed 3. The motion was carried. On motion it was voted that reulations relating to the purchase of domestic acceptances made by State banks and properly secured be drafted for presentation to the Board at the earliest possible moment. On motion it was voted that a committee of two be named to preware and report such regulations 944 to the Board. Mr. Hamlin named Ur. Harding and Mr. Warburg as a special•committee to Prepare the draft.: On motion an application for Federal reserve notes from the Federal Reserve Bank of Kansas City, duly recommended by the Committee on Issue and Redemption, was approved as follows: (.:,,‘5 denomination 10 " 20 0600,000 240,000 160,000 The question of the appointment of Mr. C. R. Mosher at Minneapolis was taken under consideration, and the Governor of the Board was authorized to say to Federal Reserve Agent Rich that it is not necessary for him to remain longer in the city, as the Board will, if necessary, afford him a hearing before taking any action with reference to Mr. Mosher. The general terms of the draft of a letter to Mr. Rich relating to the Mosher appointment were discussed and given approval, the Governor being authorized to convey the substance thereof to Mr. Rich in conversation. On motion it was voted to authorize the Secretary to obtain 8,030 of the forms for condition re- 945 - 1- )orts of member bans for use in reporting to Federal reserve agents. On motion an application for advertising space in the Federal Reserve Bulletin was ordered declined. The form of a reply to Deputy Federal Reserve Agent Tupper of Jt. Louis relative to the election of directors was alrproved. A mouorandum relating to the method of redeeming mutilated Federal reserve notes, was on motion, referred to a special committee consisting of 1:r. Warburg, Hr. Harding and LT. Delano. On motion the making of suggestions with reference to a programme for the approaching meeting of the Advisory Council in Washington, was referred to LT. Delano and LT. Harding as a special committee. A communication from the Oeattle Clearing House relating to conditions governing savings doposits in banks of that city, was referred to Mr. Harding and Counsel with power to act. On motion at 12:30 p. m., the Board ad- 9I6 journed to meet on :,:onday, November 8, at 1100 a. m. • r Jeoretary. itaa07ED: Chairman.
@FedFRASER