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757 FEDERAL RESERVE BOARD WASHINGTON X-3852 October 10, 1923 •, SUJ3JECT: EL:p1cymEmt of Specic.l Cou.;.1sel to Represent Fede:r:al Reserve Bauks beiore Inte:estate C~ImJex-ce Commission. Dear Sir: Refen·h"lg '.;o '~he Bo::~rd' s letter of August 16, 1923, (X-3812), on the subjec·:. ilE.xpress Bo.tes for Transporta.tion of Money and Securities l:, yc:u are advised tha:t the Fede:ral Reserve BoaTd on October )rd approved the em:t-lo;,"IDent by the Federal Reserve Bank of NeN Yo:·k of Mr. James W. Carrr.el t a.s special counsel for the Fede~a-1 Reserve Banks to present to the Interstate Com:rr:erce Cor.:mJission the ma.tter of a. revision of the present exp.ress ra.tes a.p.tJ1icable to the transpo:rta.tion of money and securities. This a.pproval was given with the understanding that the total expense for lAga.l services in the litiga.tion, which is to be pro :rated aL:cmg t:1e twelve ]'ederal Rese:rve Ba.nks, shall in no case exceed $1) 1 000; reGardless of ,vhether the ca.se is ca.r:ded to the Unit-3d S·~a.tes Supreme Cou.rt, other counsel a.re enga.g~d , or the :;:-esul t is ant irely fa:vo:ra.ble to the contention of the Federa.l Reserve Ba.nk:s. l?ayments to Mr. Ca.:rmalt unde:t' this a.pp:roval will be made by the Federal Reserve Bank of New York, a.fter submission to the Boa.rd, and you will be advised promptly of the :p:c·o :t"a.ta. sha.t"e of your bank in a.ll such payments, in order tha.t you may remit to the New York :Bank. Very t ruly yours , Walte:t' L. Eddy, Sec re ta.ry, TO GOVERNORS OF ALL FEDERAL RESERVE~ EXCEPT NEW YORK
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