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FEDERAL RESERVE BOARD WASHINGTON X-3U39 June 13, 1922. S U B J E C T : S u m m a r y o f R e p l i e s to Q u e s t i o n n a i r e o n E x e r c i s e of Trust Powers b y N a t i o n a l B a n k s . D e a r SirJ U n d e r d a t e o f O c t o b e r 12, 1921, t h e F e d e r a l R e s e r v e Board, through the Federal Reserve Banks, addressed t o all n a tional banks w h i c h had b e e n granted p e r m i s s i o n to act in fiduc i a r y capacities u n d e r the terms of S e c t i o n l l ( k ) of the F e d e r a l R e s e r v e A c t , a q u e s t i o n n a i r e d e s i g n e d to e l i c i t i n f o r m a t i o n a s to t h e d e g r e e o f s u c c e s s w h i c h t h e y w e r e a t t a i n i n g i n t h e o p e r a t i o n o f t h e i r t r u s t d e p a r t m e n t s a n d a s to t h e n a t u r e o f t h e p r a c t i c a l a n d l e g a l d i f f i c u l t i e s , if a n y , w h i c h t h e y w e r e e n countering, A summary of the replies r e c e i v e d to t h a t q u e s t i o n - naire has b e e n prepared and published in pamphlet form and a s u p p l y i s b e i n g s e n t to y o u u n d e r s e p a r a t e c o v e r . It w i l l b e a p p r e c i a t e d if y o u w i l l k i n d l y h a v e one of t h e s e p a m p h l e t s m a i l ed to each of the national banks in your district w h i c h has been granted fiduciary powers. Very truly yours, Secretary, TO CHAIRMEN OF ALL F.R.BANKS.
@FedFRASER