The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
78:1 At a regular meeting of the Federal Reserve Board held in the office of the Board at 11:15 a. m. On Thursday4..3eptember 23, PRESENT: Mr. Hamlin, presiding Mr. Warburg L:r. Delano Mr. Harding Mr. Williams Mr. Willis, Secretary. The minutes of .the meeting of Wednesday, September 22, were read and approved. The Committee on State Banks having reported favorably on the application of the Commercial and Savings Bank of Albion, Michigan, for membership in the system, the report was, on motion, approved. The Secretary of the Board having presented the usual weekly discount rate recommendations, the following rates were, on motion approved; For the Pederal Reserve 3allk of Atlanta. Commercial paper GO to 90 days Trade acceptances c? 2or the Federal Reserve Bank of Boston. Commodity rate 3,1s-r7 784 For the Federal Reserve Bank of an Francisco. Commodity paper up to 30 days 11 U 30 to 60 days 60 " 90 " Over 90 days 314 41,1, 570 Harding, to whom had been referred the preparation of a letter amending the Commodity Rate Circular, to be transmitted to all Federal reserve agents, submitted a report on the same. On motion the proposed letter was approved and ordered transmitted. Mr. Harding, to whom had been referred the matter of preparing a letter to Deputy Federal Reserve Agent McCaleb relative to the purchase of a bank building at Dallas, submitted a draft of the proposed letter. On mo- tion the same was approved and ordered transmitted. A letter from 2.ssistant jecretary of the Treasury Malburn, relative to detailed statements of the kind of money held by Federal reserve banks, was read to the Board. On motion it was ordered that henceforward the Weekly jtatem nt shall include items showing the amount of each kind of money held by the several banks. The jecretary of the Board having presented a memorandum from the Division of Reports and statistics 785 relating to discount of hotel paper in connection with a certain note rediscounted at the Federal Reserve Bank of Boston, hd was directed to transmit the substance of the memorandum to the Boston Bank for such comment as might be deemed best. The Secretary of the Board read a letter from Governor Strong of New York making inquiry concerning the plans of the Board as to rediscounts between Federal reserve banks during the coming autumn. The letter was laid on the table for the time being. A letter from Banking Commissioner Thorndyke of 'Massachusetts regarding aocebs to State bank reports, was read and noted. A letter from Federal Reserve Agent Wellborn relative to proceedings against officials of the Americus National Bank, was ordered referred to the Comptroller of the Currency. •••••• A letter from Federal Reserve Agent Jay, relative to access to examiners reports in the case of certain New Jersey banks seeking trustee powers was . read and laid on the table. A letter from Governor Seay of Richmond rel- 1 !1/1211 8 :17.71011,t17 -40J00C *61° # aoqw 4jor, 41:rPTJJ up pouanc41pv parog aq4 stu OT gitn 4v uoT40m uo 'oc'T oq e. omuo aq4 JP uoT41uTm0uop UT apj ao4ou oAaasaa rcaopaj jo JO 110A 000'096C InuoT4IPP,1 ttv jo 2uT4ulad eq4 JOJ pvq aq 'pa4u1a2 I uT qvq4 p 1100041i:4T41o74nv 1t4TA pourmosupo 4E; pavoci 01/4 jo 1:41u4o.loo JOJ j pavH ot oq. p0414103 pur 241nci41rL -oa at= 'uuTTo.zvo 114aoll 'Uo42uTmiu 4v s:Kuvq UO a0uu4100011 u.iToJoJ Jo 4uem4uoa 011,4 oor o T e
@FedFRASER