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1339 A meeting of the Standing Committee on the Admission of 3tate Banks was held in the office of Er. Harding on Tuesday, December 14th, at 12:45 p. m. IMSENT: Mr. Harding, Chairman ldr. Williams Er. Warburg. AITLIW,TIONS FOR ADMISSION TG THE aEuEavE z.aamid, 3YOT:V.. Merchants and Farmers Bank, Cheraw, 0. C. It was recommended that this application be referred to Federal Reserve Agent In-le for information as to the value of the assets of the Southern National Bank of Wilmington, in This information is important liquidation. in view of the fact that the surplus and undivided profits of the Bank of Cheraw are only . :5,000 4 and the bank has a loan of c:!6,482.09 upon 84 shares of stock in the Southern National Bank of Wilmington, in liquidation. Killingly Trust Company, Danielson, Conn. It was recommended that Federal Reserve Agent Curtiss of Boston be advised that there will be no objection, based upon the data regarding the Bank's affairs which has been laid 1340 before the Committee, to the admission of the Killingly Trust Company, of Danielson, Connecticut. The Company is a small institution and does not appear at present to be engaged in the kind of business that would supply it with paper eligible for rediscount, But the Committee feels that this is a matter for the officers of the applying-bank to consider and does not in itself constitute an objection to membership. Guardian Trust and SaviLgs Bank, Toledo, Ohio. The Committee reported favorably upon the application of the Guardian Trust and Savings Bank of Toledo, Ohio for membership in the Federal Reserve System and has requested the Division of Audit and Examination to prepare the application papers in regular form. APPLICATIONS FOR FIDUCIARY POWERS. REFF,RRET TO COMPRTOLLga 2OR FURTIM INFORMATION. First National Bank of Baltimore, Maryland. The application of the First National Bank of Baltimore, Maryland, to exercise trustee powers was turned over to the Comptroller of the Currency, who will investigate the matter of the warehouse stock owned by the bank and will report to the Committee later an. Approval recommended,'subject in each case to Counsel's opinion that such rowers 1341 are not in contravention of State laws: Dist. 3 First National Bank, Seaford, Del. 2 National Iron Bank, Morristown, N.J. 2 Naticnal State Bank, Newark, N. J. First National Bank, Somerville, N. J. 2 Rutherford National Bank, Rutherford, 2 N. J. 2 National Union Bank, Dover, N. J. 3 Nazareth National Bank, Nazareth, Pa. BE HELD UP PENDING APPLICTIONS TO .110EIPT OF NEXT EXAL'IINAT ION: • Second National Bank, Paterson, N. J. First National Bank, Springfield, Vt. Corsicana National Bank, Corsicana, Texas. 3 1 11 APPLICi.TIONS FOR REDUCTION OP CAPITAL STOCK, APPROVED. First National Bank, Ballinger, Texas. 11 The Committee recommended the approval of the application of this bank to reduce its capital stock in the sum of 0100,000, the application for said reduction having already been approved by the Comptroller of the Currency. APPLICATION FOR STOCK - APPROVAL RECOLI:ENDET: Shares.Dist. 6 75 Winder National Bank, Winder, Ga. 8 First National Bank, Marshall, Ark. 30 1342 Shares.Dist. First National Bank, Goodwin, 0. Dak. 16 9 Nationalliank of Dodge County, Kasson, 23 9 APPLICATIONS FOR ADDITIONAL STOCK APPROVAL RECOMMD141). City National Bank, ?t. Smith, Ark. 6 Burns National Bank, Durango, Colo. 1 Coleridge National Bank, Coleridge, 1 Nebr. First .National Bank, Bangor, Maine. 120 First National Bank, Three Forks,Mont. 1 Merchants National Bank, Wadena, Minn. 2 6 10 10 1 9 9 APPLICATION FOR SURRIINDER OP STOCK, APPROVAL RECOLMENDED. First National Bank, Holly, Colo. 21 City National Bank, Weeping Water,Nebr.36 First National Bank, Clarks, Nebr. 33 Merchants & Farmers National Bank, Cisco, Texas. 30 10 10 10 11 Respectfully submitted, R. R. BIM:LIN, Acting Secretary to Committee. APPROVED: W. P. G. HARDING. Chairman.
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