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689 FEDERAL RESERVE BOARD WASHINGTON X-3148 JW'le 22, 1921. l Employment of Special counsel in Par Clearance Li tiga.tion. .near Sir: At the suggestion of the Federal Reserve ~oard, the Federal Reserve Barik of Atlanta ha$ employed Honorable John w. navis, of New York, former Solicitor General of the United states and former Ambassador to Great Britain, as its principal counsel to conduct the par clearance litigation which was· recently remanded by the Supreme c~rt of the united States for trial on its merits before the United States District Court of the southern District of Georgia. In the opinion of the 13oard the q_uestions at issue have now assumed a nationwide scope and vi tally affect all Federal Reserve Banks. The Board suggests, therefore, that the expenses of the li tigat.i.on from this time on be borne by all Federal Reserve Banks pro rata and would be pleased to be advised that your bank is wiliing to pay its proportionate share .. very truly yours, Go v e r n o r. TO CHAIRMEN OF ALL FEDERAL RESERVE BANKS.
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