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. 1386 W . P . 6 . H A R D I N G . GOVERNOR P A U L M . W A R B U R G , VICE GOVERNOR EX-OPPIClO MEMBERS F R E D E R I C A. DELANO WILLIAM G. McADOC SECRETARY OF THE TREASURY CHAIRMAN ADOLPH C. Mil. CHARLES S. I J O H N SKELTON WILLIAMS COMPTROLLER O F THE CURRENCY FEDERAL RESERVE BOARD WASHINGTON H . P A R K E R W I L L I S , SECRETARY S H E R M A N P . A L L E N . ASST. SECRETARY AND FISCAL AGENT ADDRESS REPLY TO F E D E R A L R E S E R V E BOARD . June 23, 1916. Bear Sir: For your information there i s given below a copy of a resolution adopted by the Federal Reserve Board at i t s meeting today covering the separation of the gold order c e r t i f i c a t e s making up the Gold Settlement Fund and Federal Reserve Agents 1 Fund. RESOLVED, that the gold c e r t i f i c a t e s comprising the Federal Reserve Agents' Fund and the Federal Reserve Banks' Fund in the Gold Settlement Fund s h a l l hereafter be separated so that certain c e r t i f i c a t e s s h a l l be credited t o each fund by number and transfers made upon the books of the Federal Reserve Board by both numbers of c e r t i f i c a t e s and amounts in dollars, and BE IT FURTHER RESOLVED, that any l o s s which niay occur in the Gold Settlement Fund a f t e r June 23 j 1916, s h a l l be charged against the Federal Reserve Agents' Fund or the Federal Reserve Banks' Fund accordingly as ownership of the l o s t c e r t i f i c a t e s h a l l by i t s number be indicated on the books of the Gold Settlement Fund. Very truly yours, Governor.