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1.7281402 FOREIGN BRANCHES OF AMERICAN BANKING INSTITUTIONS Bank of America n a t i o n a l Trust & Savings Assn.. San Francisco, C a l i f . Branch: England London Bankers Trust Company, Hew York, N. Y. Branches: England: London France: Paris Chase National Bank. New York, N. Y. Branches: Cuba: Havana England: London (two o f f i c e s ) Panama: Panama City Canal Zone: Cristobal Bnpire Trust Company, New York, N. Y. (Non-Member) England: London Branch: F i r s t National Bank. Boston, Mass. Branches: Argentina: Avellaneda Buenos Aires (four o f f i c e s ) Bosario Cuba: Ci enfuegos Havana (three o f f i c e s ) Sancti S p i r i t u s Santiago guaranty Trust Company, New York, N. Y. Branches: Belgium: Antwerp Brussels England: London (three o f f i c e s ) - Liverpool France: Paris Havre National City Bank of New York, New York, N. Y. Branches: Argentina: Buenos Aires (four o f f i c e s ) Eosario Belgium: Antwerp Brussels Brazil: Pemambuco Eio de Janeiro Santos Agency Sao Paulo Chile: Santiago Valparaiso China: Canton Dairen Hankow Harbin Hongkong X-7281 —2— National City Bank of Hew York, Stew York, K. Y. (continued) Branches: China: iviouk&en Peiping Shanghai Tientsin Colombia: Bogota Cali Medellin Cuba: Caiharien Camaguey Cardena° Ciego de Avila Cienfuegos G-uantanamo Havana ( s i x o f f i c e s ) Manzanillo Matanzas Moron ITuevitas Paloa Soriano Pinar del Eio Sagua l a Grande Sancti Spiritus Santa Clara Santiago Dominican Republic: Barahona La Vega Puerto Pla ta San Pedro de Macoris Santiago de Los Caballeros Santo Domingo City England: London - City Branch West End Branch (City Bank Farmers Trust Co., 11 Waterloo Place, L t d . , a B r i t i s h Company handling t r u s t operations only, e n t i r e stock owned "by n a t i o n a l City Bank, Hew York, i s also a t t h i s address) 403 X-7281 -3National City Bank of New York, New York, N. Y. (continued) Branches: India: Bombay (two o f f i c e s ) Calcutta Rangoon Italy: Genoa Milan Japan: Kobe Osaka Tokio Yokohama Mexico: Mexico City Panama: Colon Panama City Peru: Lima Philippine Islands: Cebu Manila Puerto Rico: Arecibo Bayamon Caguas Mayaguez Ponce San Juan Santurce S t r a i t s Settlements: Singapore Uruguay: Montevideo Venezuela: Caracas BRANCHES OF FOREIGN BASKING CORPORATIONS OPERATING UNDER EDGE ACT OR UNDER AGREEMENT WITH THE FEDERAL RESERVE BOARD The Chase Bank, New York, N. Y. Branches: China: France: Mexico: (Edge Act Corporation stock of which i s owned by the Chase National Bank of New York.) Shanghai Hongkong Tientsin Paris (two o f f i c e s ) Mexico City | 4$t X-7281 4 0 5 -4I n t e r n a t i o n a l Banking Corporation (Subsidiary of n a t i o n a l City Bank of Hew York, N. Y.) Branches: England: London Barcelona Spain: Madrid France: I n t e r n a t i o n a l Banking Corporation owns stock of n a t i o n a l City Bank of Hew York, France, S. A., opera t i n g "branches a t : Paris (two o f f i c e s ) llice Bank of H a i t i , I n c . , subsidiary Haiti: of the I n t e r n a t i o n a l Banking Corporation, holds stock of Banque Rationale de l a Republique d ' H a i t i , operating a t the following points i n the Republic of Haiti : Port au Prince (Head O f f i c e ) Aux Cayes Cape Haitian G-onaives Jacmel Jeremie P e t i t Goave Port de Paix S t . Marc Aquin (Agency) Miragoane (Agency) Fort Liberte (Agency) Switzerland: International Banking Corporation holds stock of Societe Anonyme de G-erances et de Depots, a Swiss corporation, operating a t Geneva, Switzerland. Federal Reserve Board, October 31, 1932. FEDERAL RESERVE BOARD WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE T O T H E FEDERAL RESERVE BOARD X-7282 October 31, 1932. SUBJECT; Purchase of "bank stock by State member banks. Dear Sir: The Federal Reserve Board recently received a request from a State member bank f o r permission to organize and acquire substant i a l l y a l l of the c a p i t a l stock of a bank to be located beyond the l i m i t s of the c i t y in which the member bank i s s i t u a t e d . This request was submitted under the provisions of a condition of membership which requires the member bank to obtain the permission of the Federal Reserve Board before i t acquires any stock in another bank or t r u s t company. A f t e r c a r e f u l consideration of the matter, the Board advised the member bank that i t does not look with favor upon the a c q u i s i t i o n by a member bank of stock in another bank or t r u s t company and t h a t , in view of the provision of Section 9 of the Federal Reserve Act which forbids a State member bank to r e t a i n i t s membership in the Federal Reserve System i f i t e s t a b l i s h e s a branch beyond the l i m i t s of the c i t y , town, or v i l l a g e in which the parent bank i s s i t u a t e d , the Board did not f e e l that i t could properly grant the member bank the permission f o r which i t had applied. In t h i s connection, a t t e n t i o n was called to -2- X-7282 the f a c t that the organization and ownership by a member hank of subs t a n t i a l l y a l l of the c a p i t a l stock of a hank located "beyond the l i m i t s of the c i t y in which such member hank i s s i t u a t e d would have p r a c t i c a l l y the same e f f e c t as the establishment of a branch of such bank beyond the l i m i t s of the c i t y in which i t i s located, and would be contrary to the s p i r i t and purpose of the provision of Section 9 of the Federal Reserve Act r e f e r r e d to above. The p o s i t i o n taken by the Board in t h i s matter i s c a l l e d to your a t t e n t i o n f o r your information in the event that cases involving similar circumstances should a r i s e h e r e a f t e r in your D i s t r i c t ; and the Board should be advised in d e t a i l of the circumstances involved in any such case. In t h i s connection, i t may be noted that some State member banks are not subject to the condition of membership requiring them to obtain the Board's permission before acquiring stock in another bank. However, in view of the provision of Section 9 of the Federal Reserve Act which p r o h i b i t s the establishment of branches beyond the l i m i t s of the c i t y , town, or v i l l a g e in which the parent member bank i s s i t u a t e d , the Board should also be advised of a l l the circumstances involved in any case in which such a State member bank d e s i r e s to acquire a subs t a n t i a l amount of the stock of another bank located outside of the l i m i t s of the c i t y in which the member bank i s s i t u a t e d . Very t r u l y yours, Chester M o r r i l l , Secretary. TO ALL FEDERAL RESERVE AGENTS. FEDERAL RESERVE BOARD WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE T O THE FEDERAL RESERVE BOARD X-7283 November 2, 1932. SUBJECT: New Issue Treasury B i l l s . Dear S i r : In connection with telegraphic transactions in Government s e c u r i t i e s between Federal reserve banks, the code word "NOXDIFFUSE" has been designated to cover a new issue of Treasury B i l l s , dated November 9, 1932, and maturing February 8, 1933. This word should be inserted in the Federal r e serve telegraph code book, following the supplemental code word "NOXDIFFER" on page 172. Very tr uly yours, J . C. Noell, Assistant Secretary. TO GOVERNORS OF ALL F. R. BAMS.
@FedFRASER