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of the Federal Reserve BoL.rd
a
held in the office of the 3oLrd at 1:- noon, on 7aesd:y,
Sept
T.
bur 4,
presidin,
.
'Allis, ,.._;ecretry. •
71r. Delano,
:Ir. Hamlin,
The miteti of the rileetin
of toe 7oard held on
were read and, on 7!Altion,
Troved.
- ecJtive JOMThe minatel; of the Lleetine of the L.mittee of the fonrd, lead on .,,a - g'
and, on 1.1oti,-)n,
U nod 31 were read
rovd nod the action there n set forth
ratified.
letter re eived from
- rve
aartiss with reference to the policy of the government
in regard to forei.,71 e_:-ch%nL;e, vms read and oriored passeu
to file.
:me., ,orandarl from .o:ansel relative to the retention of stock held by 'Y6.1;e. -banks 3dmitte3. to member2hip,
was 'presented by the fecret::.ry of the ?:oz-..rd - with (ilzestion
as ,to vjActlier p
licity L.3o21d be L.;ivtr to Cle
on motion, nns ordered I:)2sed to file,
iion
-ttorney Jeneral :arren
letter from 4_ssistant ,
relative to exchange transactions in aassian rou.bles by
the rational City Bank of Yew York, vas referred to Lir.
Delano for such action as mizht be deemed necessary.
4L letter fro, 1:r. C. C. Parks, Vice President of
'irst rational Bunk of Denver, datedust 21, and
Li:i.s,-7 recommendation for directorships in the Denver Branch
n f the
c.icral
Aeserve ;E3arik of Kansas City, W4S read and or-
pased to file.
letter from Governor Stron2; enclosing a copy of
his letter to the Bank of Italy relative to agency relations with the latter, was read and, on rnotion, referred to
the Jo'Ami'tee on the :Tow York District for decision as to
whether publicity shall be given to the designation of the
Bank of Italy.
lovernor
arding stated that the juestion of makin,.;
some chance in the rules of the Board with reference to a
quorum at meetin,..;s, had arisen, and that he believed it would
be well to have the mattir passed upon and disposed of in
some way.
On motion, it was voted to refer the matter to Counsel.
i1r. Delano presented a letter received from lovernor
1:iller with reference to the applico.tion of the r.orfolk iational
Bank of rorfolk, rebraska, for tru.stee powers.
On mo-
tion, the matter vs referred to the Committee on Trustee
Powers.
Upon recoendatIon of the :;ommittee on Trustee
Poqers, action was taken as follms, upon applications
pendin:
4ingications for "rastee, Ldmiuistrator, -1',:zecutor
and iler;istrar of Stocks and Bonds were ;ranted as
follows:
First
7hion
- irst
2
'First
Leeth
rational
rational
rational
rational
National
Bank
Bank
Bank
sank
Bank
lcandria,
qprinfield,
Danville, Va.,
Et. Yetersbar,
Cullman, iLla.
.,
4plicLtions as Re2;istrar of Stocks and Bonds,
granted as follows:
Pa.
2irst r:ational Bank
.0.1,p1ications refused, as follows:
First rational Bank
?irot 1Tational Bank
Hood :liver, ('eon,
Tipton, Indiana.
,-,undinj.further information,
,4.pplications held ,
as follows:
2irzt rational Burk
First rational Bank
First national Bank
jitiLens rational.Bank
First rational Bank
nemorandam
1;'armlz.l.nd, Ind.,
ralis;e11,
Dickinson, :".D.
Hampton, Iowa,
1:.arietta, Oa.
chief Ex.aminer Broderick with r(f-
erence to loans made to the President of the Tennessee
7ermitaze rational 'Bank from trust funds, Was, Cal notion,
referred to the Comptroller of the Ourrency
or farther re-
port.
The question of the assizninent of the State of ,yowhether to tae0Ltb,..lia or the Denver Branch of the Federal
deserve Bank of Vansas
lty,:;as, on !lotion, referred to the
,3o-v-Alttt_e on the Operation of the Xansas City Bank for report.
On motion, applications for power to acce,t up to 100,7_
of capital nnd surplus, were approved as follows:
Planters National Bank
Citizens National Ban.
On motion, the
dichmond, Va.,
Decatur,
uestion whether the Board has power
to send out general instructions to banks e4ercisinL: trustee
powers with reference to the use of funds under such powers,
and also the question of the Board's authority to withdraw
such poaers, was referred to Counsel.
7pon recommendation of' the(),1mittee on
taff, the
Thomas B. :tar is as examiner in the 7,ansas
ity
:Tficict:, was approved at the rate of400 per annum.
letter from ,Avernor :Lrding• to Federal deserve
;ent,iamsey with reference to the appointment of a suitable
auditor at the Federal Reserve_Bank of Dallas, was pre
sented to the Board and noted.
On motion, at 12.45 p.m. the Board adjourned to
meet on aednosda7, September 5, at 3 p.m.
iiPPAOVED:
Secretary.
Chairman.
@FedFRASER