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1012 W . P . 0 . H A R D I N G . GOVERNOR g x OFFICIO A L B E R T S T R A U S S , VICE 6 0 V E R N 0 R ADOLPH C. MILLER " h ^rr, l rcu„.h=, federal reserve board • w.t.™.s,™ R . G . E M E R S O N . ASSISTANT SECRETARY ADDR FEDEMJRE8Erve BOARD WASHINGTON December 20,1919* X-1766 Subject: Reports of Federal Reserve Agents on Applications to organizeN ational Banks, Dear Sir Without making any suggestion as to the course you should pursue but merely for your information, the Board transmits the tex of a communication i t has received from the Comptroller of the Currency, as follewst " In considering an application to organize a National Bank, it is customary for this office to obtain, in addition to the reports of the Chief National Bank Examiner and the field examiner, recommendations from the Congressman i or the district, the Federal Reserve Agent of the Reserve Bank of the district, and the Commissioner of Banking of the State, and also from other available sources. This office finds that the Federal Reserve Agent i n many c a s e s communicates with the Commissioner of Banking for the district, and his report is more or less a r e j e c t ion of the Commissioner's views. Inasmuch as this office gets direct a report from the Commissioner of Banking I am wondering if i t is worth whil for the Federal Reserve Agent to w r i t e t o the Commissioner for a recommendation, thus duplicating the report w ic this office gets direct? '„ • „ . Would i t not be well for the Federal Reserve Agent to base his information upon authorities other than those which are communicated with direct by this office? Very truly yours, Governor*. letter to Chairmen of all F.R. Banks,
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