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At a meeting of the Executive Committee held in the office of the Governor of the Federal Reserve Board at 10:00 A. H. Monday, September 11, 1916, PRESENT: Governor Harding, Mr. :larburg presiding, Mr. Miller, Ur. AlleL, Secretarw, Governor Harding presented the lolloaing matters:1. Letter from the Federal Reserve Bank of Chicago stating that their plan for the increase of salaries that insurance might be taken on the lives of employees was tentative only and that the increase had not yet been voted by the Doard of Directors. 2. Letter from the Commercial ::utional Bank of Muskogee, Oklahoma, stating that Mr. L. 21. a class B Director, Fedin'n1 Reserve Bank of Kansas City, had removed fmmthe 10th 917 District. This letter was ordered docketed for the Board meetinc. 3t Letter from the Federal Reserve Agent at Atlanta, relative to procedure in Louisiana where the State bank examiner cannot, under the law, furnish reports of examinations of State banks. This letter was left to the Governor for reply. 4. Letter from the Federal Reserve Agent at San Francisco, askialg, to be advised as to a pro -osed payment of dividend. This letter was referred to the Governor for reply after consultation with Mr. Broderick. 5. Letter from Federal Reserve Agent Ails, sugt;esting October Z3d fer the next meeting of Federal Reserve Agents in Yiashington. This letter wasneerred to Mr. Miller of the Committee on Relations with Federal Reserve Agents. 6. Letter from De-outy Governor of the Federal Reserve Bank of Richmond, as to the establishment Of a rate on promissory notes for a period of not A to exceed 15 days, was considered and the f;ecretary directed to prepare a letter in reply, stating that such rate when established should be submitted to the Federal Reserve Board for its approval. At 10:50 A. M. the Committee adjourned. LPPROVEJ:
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