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October 8th , 1914.

Sir :
The Federal Reserve Boa.rd has dets_ mined to hold a genel'al moeting on
Tuesday, October 20 , to which sha.ll be invited thFJ Governer and a corrmittee of three or more representing tee directors of each Fade a1 Reserve
Bank. The invi ta tion is exten┬Ějed 1.0 all directors of Federal Reserve Banks
if they choose to attend , but it is dHoired that the committee of three
already refer ed to shall in any event be present .
I have the honor to inform you of ~hi3 invjtation and ask that your
Beard of Directors shall st tly dBsigna~e the directors who are to serve
upon this committe8 , inf orming them cf the da.te of the moeting and re questing them to attend .
The meeting will be devoted 'to a discussion of the general features
and mere important details regarding th~ organizaticn of Federal Reserve
Banks . The attached series of questicn~ will give au an outline of scme
of the pertinent subjects to be taken up ; ?thers will doubtless be raised .
It is desired that the representat1':es Of ea:;h bank sh~ll come prepared
to present tully an compl6~ely t~e views of th~ir insti t ution in order
that there may be a general interch:lnge and comparison of ideas . To thls
e d you are requested to ascertain the views of your dirdctors with respect to the by - law and org~nizaticn chor~ already presented to yo u and
to designate as a me :ber of the ccmmittee at least one member who w1 l 1 be
prepared to examine the propcsed plans of accounting . It is desirable also tha~ tta Class " ~ ~ directors shall consider and present definite vie IS
of the functions of the Federal Reserve Agent and of his deputy in ordel'
-chat these views may be standardized as a basis tor a general ruling on
the subj ect .

I have the honor t o be ,
Res pec t fully yours ,

Secret a ry.
Mr. '11-. F. McCaleb, President,
West Texa s Bank & Trus t Company
San Antonio, Texa s .
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