Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, October 16, 1917, Volume 4, Part 2

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450




At a meeting of the Executive Committee of the Federal

eserve Board held in the office of the Governor

on Tuesday, October 16, at 12 noon,
PiiESENT:
;.fr. Harding,

1.1r. Hamlin,

.

Mr. dillis, Secretary.

'darburg,

Present also Mr. .ilbert Strauss, representing the
Treasury Department.4plication for permission to export coin, bullion
and currency were presented and disposed of as follows:
398.

Fred L. Oeyboldt, 4'9,500 Federal :deserve

notes and national bank notes from El Paso to :lexico. Approved.
399.

Mexican Galt Oil company, :30,000 gold, Port

.i,rthur, Texas, to Tampico.
400.

Approved.

E. Berthier, 420,000 sold, New York to Mexico,

declined.
401.

Canadian Bank of Commerce, two shipments of

1,000,000 ounces silver bullion each, San Francisco to Calcutta.

pproved.
402.

Solby Smelting Company for Russian Embassy,

, r-

San Francisco to .J'n.an:311ai (?), 35,74.5 ounces silver,
approved.
in answer to a telegram from the :ational Bank of
the Republic inquiring ;ht had been done with reference
to exchange on India, the Secretary was instracte.1 to say
that negotiations are still in progress.
In answer to a telegram from the First n_,tional Lank
of i:ogales relative to iicense 1;o. 318, the Secretary of the
Board Was instructed to wire explaining the suspension of
the :.:exican Government's decree regarding reexportation.
letter from ,,cting Deputy Governor l':ent with respect to the earmarking of gold, was read and informally
discussed, but no action taken. ,nother letter from :Ir.
Rent with resrect to the special question of earmarking
;old for the Javasche Bank, was read, and the Secretary
instructed to write again inquiring when the earmarking
in this particular case was requested.
It letter from the ?irst 1:ationa1 Bank of Douglas
was ordered answered with a brief explanation of the Board's
position with respect to the case of S.

aurdanier.

On motion, at 1:2.45 p.m. the .;ommittee adjourned.
4.PPAUTiZ:




teeretarywig,
Jhairman.