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178 At an adjourned meeting of the 2edera1 Reserve Board held in the office of the Board at 3:00 p. m., Thursday, October 1, 1914 PRESENT: nr. LicAdoo lir. Williams Mr. Hamlin flr. Warburg Mr. Delano 1:1r. The Secretary of the Treasury presided and Jr.1 H. P. Willis acted as secretary to the meeting. The Commercial National Bar*. of Washington, D. 0 having presented, pursuant to its agreement, by-laws governing the conduct of its branch proposed to be established in Balboa, the following order was presented and on motion of Mr. Warburg duly adopted and ordered spread upon the records of the Board. "The Commercial National Bank of Washington, D. O. having filed an application with this Board for the purpose of securing authority to establish a Branch at Balboa, Canal Zone, and having furnished evidence that its Directors have authorized and directed that the sum of one hundred thousand dollars (100,000) be set aside for the conduct of the business of the said Branch; and the said application having been considered and it appearing to the Board that it is properly made under the laws of the United States of America and should be granted, Now, therefore, it is hereby 1 Page .Mee n I J91' 179 That the said ap lication be and it hereby is aL)roved and the said Bank be and it hereby is authorized to establish the said Brgnch at Balboa in the Canal zone. BY Ti3 =HT] BOARD, Governor. ATT-2,3T: 3ecretary." On motion Mr. Geoi7Je I. Lamonte of Bound Brook, ITe:i Jersey, was elected Vice Chairman of the Federal ileserve Bank of Philadelphia. 1.1r. Miller as requested by the Board to 1-9.-,ze further inouiry into certain candidates for 'Class "C;" direot°5 for the Federal Reserve Bank of Can Francisco. The 3ecretary of the Board was requested to notifY ,;t t directors of the Federal Reserve 3nia. of I-111W the Classu-i delphia to come to 7ashin,3ton for conference on the afternoon of Friday, October 2. 180 On motion the meeting adjourned at 4:15 to meet at 10:30 a. m. on Friday, October 2, 1914. Secretary. APPROUD: Chairman. - 1914 •
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