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At a special meeting of the Federal Reserve Board hold in the office of the Board ct 2:0U H. on Wednesday, October 4, 1916, PRES1ZT: Governor Harding, presiding, Mr. Miller, Mr. Warburg, Mr. Williams, Mr. Delano, Mr. Hamlin. Mr. -Allis, Secretary, and Mr. J. P. Cotton, r. H. R. Dulany, of Counsel. Mr. D. E. Forgan, of Chicago, was first heard on behalf of Messrs. Charles A. Hurlburd and Stanley Field, both being directors in the Illinois Trust & Savings Bank, while Mr. Ilurlburd was a director in the Corn Exchange Bank, and Yr. Field a director in the I:ational City Bank of Chicago, of which latter institution Hr. Forgan is President. The hoard heard the testimony of Mr. J. J. Sullivan of Cleveland, Ohio, who spoke for himself, C. E. Sullivan, Mr. Louis Black, Mr. J. H. Hoyt, and Mr. H. L. McBride, who were directors of the Superior Savings & Trust Company of Cleveland, while some of them were also directors of the Central rational : Bank and others of the Bank of Commerce, also of Cleveland. The board hoard the testimony of Mr. W. B. Gourley of Paterson, row Jersey, a Director in the First rational Bank of Paterson, also of the Hamilton Trust Company. The Board hoard the testimony of Mr. Wilton Snowden, Mr. W. L. Hurst, and Mr. A. D. Graham, who appeared on behalf of the Citizens rational Bank and the Mercantile Trust (c- Deposit Company of Baltimore, LI% Snowden statinL; that he wished also to represent la'. H. L. Young. Mr. Charles E. Chase, of Hartford, Connecticut, was heard, he being a Director in the Hartford-Aetna rational Bank and in the Connecticut Trust & savings Company, both of Hartford. At the conclusion of Chase's testimony ttie . Secretary of the Board submitted a statement furnished by 1,1r. H. E. Gatley, of -ashingtan, as a result of testimony of the previous day, relative to the number of notes discounted by his bank and the Bank of Commerce & 'Savings. The papers were referred to the Committee on Operation of the Clayton Act. On motion &t 4:55 P. L. the Board adjourned. Seoretar7. `D:
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