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W. P. G. HARDING. GOVERNOR EX-OF"FICIO MEMBERS -~ - - - - , V I C E GOVERNOR_.!'- ADOLPH C. MILLER CHARLES S. HAMLIN WILLIAM G. McADOO SECRETARY OF THE TREASURY CHAIRMAN JOHN SKELTON WILLIAMS J. A. BRODERICK, SECRETARY FEDERAL RESERVE BOARD COMPTROLLER OF THE CURRENCY L. C. ADELSON. ASSISTANT SECRETAI?'r W. T. CHAPMAN. ASSISTANT SECRETARY W. II. IMLAY, FISCAL AGENT WASHINGTON ADDRESS REPLY TO FEDERAL RESERVE BOARD S·-;ptembor 16,1918. IN Rt>- X-1200 S'tl\.'i'E EANK 1\P:?L::CATIOi~S--RECOH'ENDATIONS uf RES:EJI-\V:Z BANK COMl(ln'EES AND CONDITIONS SUGGESTED. Dear Sir: Examination rep~rts filed in connection with applications made by State Banks, for membership 1 are analyzed by or for the respective Reserve Bank Co~mittees. In a numb.zr of cases with the analysis received it has been possible more promptly to consider the applications. In all other instances however it has been necessary to have a thorough analysis prepared here before the· applications could be presented to the Board. It will be appreciated if you will arrange to submit, with each application~ an analysis of the report and data, on the enclosod f onn, a supply of which has been sent to you under sep~rate cover. It would also be of material assistance to this office if the Con:mittecs would speci:fy what,. if any> conditions of membership s~1ouJ.d be imposed upor:· .:tpp).yin£: banks; for example: Tho undersigneO. Corrmittee rec'Jrrrr,ends appr•.Jva1 the application subject to the following conditi..;;ns; 11 of 1. Reduction of loans to directors. 2. Irrrrediate charge to Profit and Loss Account Bad Debts $10,000 20% of depreciation shown in investment securities." Very truly yours., Enclosure. The Chainran, Federal Reserve Bank of Secretary. ,.15 -··- J .•.