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421 2b? WHE-v a S, und<*r baotion 10 of the Act approved December 23* 1913, E and known as the Federal Be servo Act, the Federal Reserve Boarff is empowered to levy somi#*anmielly upon the Federal reservo banks in proportion to their capital stock and surplus, an assessment suffi cient to pay its estimated expenses including the salaries of itc members, assistants, attorneys, exports end employees for the half year succeeding the. levying of such assessment, together v/ith any deficit carried forward from the preceding half year, and V/HEBEAS, It appears from estimates submitted and considered that it is necessary that a fund equal to ono-tonth of one por cent of the capital stock of the Federal reserve hanks bo creatod for the purposes hereinbefore described, exclusive of the cost of engraving and print ing Federal reserve notes. NOW, THEREFORE; b e IT RESOLVED, That pursuant to the authority vested in it by lav/, the Federal Deserve Board hereby levies an assess ment upon the several Federal reserve banks of an amount equal to onctenth of one por cent of the total capital stock of such banks, and the Fiscal Agent of the Board is hereby authorized to collect from said banks such assessment and execute in the name of this Board a roceipt for pay ment made. Such assessment will be collected in twe instalments of one-half each; the first instalment to be paid on July 1st and the second half on September 1st, 1915. The foregoing is a true and correct copy of resolution duly Offered and adopted by the Federal Reserve Board at a meeting held on the 15th day of June, 1915* FEDERAL RESERVF BOARD, Governor. SEAL. ATTEST. Secretary
@FedFRASER