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Reproduced from the Unclassified I Declassified Holdings of the National Archives

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FEDERAL RESERVE BANK
O F DALLAS

W. F. RAMSEY,

FEDERAL

R E S E R V E AGENT

W. B . N E W S O M E ,
DE P U T V

FE D E R A L R E SE RV E AGENT

CHAS. C. HALL ,
A S S' T TO

FE D E R A L R E SE R V E AGENT

March 1 , 1 917.
Hon. W. p . G. H a rd in g , G o v e rn o r,
F e d e ra l K eserve B oa rd ,
W a sh in gton , jj. C.
My d e a r lar. H a rd in g :-

2&
$h.

I have ^iir sjDf tfte .
i n s t • w ith r e f e r e n c e t o
p u rch a se s o r m u n icip a l w a rra n ts ana n o te w ith p le a s u r e you r
c l e a r sta tem en t o f th e f a c t t h a t you c o n t r o l our a c t i o n in
t h i s m a tte r .
\
I do n o t a n t i c i p a t e a t t h i s tim e any o f r e r in g s
o f t h i s c l a s s o r s e c u r i t y and i t i s n o t u n l i k e l y th a t we
may have a d d i t io n a l w a rra n ts o f f e r e d u s .
AIL such w arra n ts w h ich we w i l l a c c e p t w i l l oe
o n ly t o meet th e l e g it i m a t e demands o f our raember Dames.




V ery t r u l y y o u r s ,

Reproduced from the Unclassified I Declassified Holdings of the National Archives

FE0£BAL ItLSEnVE 30A3D F lit

J M 3 .

> :

m to e m x y 2 6 * 1 9 1 7 .

Hr. um

Em*0r9
Ch&lrma& Moral Beserve Bsztic#
Bal&s* :o*as.

Bear Mr. 7?&*at»6?-

lour talegpta of this

was hrotyjat to tho attention

of the Board ad by it . authority X wired you as follows, which
I now confirmI
Bo&rdipiu o v o g your taking San Antonio warrants for fifty
thoussdl &0II&3** due E&y first* with endorsement state
Kalio*i -t.ank.'*
?he Bom did not intend, in the recent

c ir c u la r

sent out

to dlacour^i-’ederal Reserve Banks froa taJdtaff wamuitu -»"*ttrntn1
ly rasrabsr bati as a natter of bona fide aooomnodatlon to tho
member taaia

It s i n ^ wished to offer the su-ge.tion as a

Batter of j^ral policy, and should you ha.ro similar applications
ifiauu in ,^>ofeith toy other member banka it will not he necessary
for you to asult the Board before taking action,




Voxy truly yours g

vJovuraor.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

For'

TELEGRAM
F E D E R A L

R E S E R V E
W A SH IN G T O N

B O A R D

? \;b r a a * y

Banaty,
Jtdaral B»— m

"

191? •

A&a&t,

D a lla a * ? e x a a *
B o a rd a p p r o v o a y o u r t a k in g 3 a n jm t o a io

v a r r a & ta f o r f i f t y

th o o a a n d

d o l l a r * d a a M a y f i r a t , w it h a m d o ra a B ia K it s t a t * r a t i o n a l B a n k *

Hording*

OFFICIAL BUSINESS
GOVERNMENT RATES
Charge Federal Reserve Board
2— 7729




Reproduced from the Unclassified I Declassified Holdings of the National Archives

12WTT MO

82

C o lle c t

g i 'p a r t m c t l t
T E L E G R A M

JK
H a r d in g ,

D A U .A S T e x a s

932am H eb

G o v e r n o r , I ’e d s r a l lie s e r v e

26

1917

FEB 2 6 1917
^QViBNOR’S OFFK5#

B oard,
W a s h in g to n

S t a t e N a t i o n a l B a ik o f S a n A n to n io o f f e r s u s d e f i c i e n c y w a r r a n t s o f
th a t c i t y
f i f t y t h o u s a n d d o l l a r s d u e i^ a y f i r s t , w i t h h a n k s
e n d o r s e m e n t * I n c o r r e s p o n d e n c e som e m o n t h s a ^ o w e c o n d i t i o n a l l y
i n d i c a t e d o u r w i l l i n g n e s s t ® r e d i s c o u n t t h i s p a p e r a n d w o u ld v e r y
mi’ dh l i k e t<r do: s o a n d h o p e t h a t i n v i e w o f i t s e a r l y m a t u r i t y t h e
h o a rd can s e e i t s
c l e a r t o c o n s e n t to s u c h c o u r s e on o u r
p a r t . P le a s e w ir e u s y o u r v ie w s q u i c k l y




fQT

vrsLy

R am sey,

A gent
1 10 7am

Reproduced from the Unclassified / Declassified Holdings of the National Archives




1

~ir')
II

■#:7

January 9# 1917,

Mr. Chaa. 0* Hall*

Aa»*t to Fodoral Hoaorro Agont,
Dallas, foatiia*

Dear Sir:

Receipt io aolraowlodgod of year lattor of Jana&re
ouclooiiig otatonont- of fumda handled for acoouast
of 'Proaaurer of tho E&iitod State a daring 1916.
Very truly youra♦

Secrotary.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

tfa a n a r y 9 # 1 9 X C *

JOf# Oooar walls* Governor,
lateral Beaarr© Bsa&* ,

Balia*t fexas#

8 I Bi**
la

o u n w r to y a w

l a t t e r a f B e a a jtH j i . a

t .

&64\»

9m

that t h a r a n < t r a a a a lt t a d t o y o tt * a 4 « r d a ta o f t a e t a t b a r & M L
r e g u la t io n * i p w m t i i g t l i *

p u w lia a e t f w a r r a n t * a nd r m m e

fe o a d a ,

w it h a u t h o r it y t i m e t o a H i t s a w *

m t H reference to th# tm

palftta yaa « a k a tl» Beard lias i v ie d

t i i a t tha Federal B e a a r r a Banfe* o*t<%t not to tak» dlraat o U l s i t S n s

Of 9MM&0P lWHSSSB*




£ haw#

tm

honor t o be*
B a a e o t f o l l y y oora .

Secretary*

‘ ■

Reproduced from the Unclassified I Declassified Holdings of the National Archives




THE FEDERAL RESERVE BANK OF DALLAS
DISTRICT NO. II
D A L L A S , TE X A S

Decem ber 31, 1 914.

D r. H, P a r k e r W i l l i s , S e c r e t a r y ,
F e d e ra l R eserv e B oard,
W ashington, D. C.

There a re two p o i n t s about w h ich I
should l i k e t o have c l e a r e r in fo r m a tio n th a n I
have o b ta in e d from such in t e r p r e t a t i o n s o f th e
law as I have a lr e a d y r e c e i v e d .
F ir s t.
When may we e x p e ct th e r u le s
and r e g u la t io n s d e s c r ib e d by th e F e d e ra l R eserv e
Board, u n der w hich we may p u rch a se the o b l ig a t i o n s
o f v a r io u s p o l i t i c a l s u b - d i v i s i o n s o r m u n ic ip a li­
t i e s , and may we n e g o t ia t e such p u rch a ses now, by
the employment o f the r a t e w hich would a p p ly t o
com m ercial o r a g r i c u l t u r a l p a p er o f l i k e m a tu rity ?
Has the F e d e r a l R eserv e Board n ot g iv e n p e r m is s io n
f o r the e x e r c i s e o f su ch a fu n c t io n , even in a
lim it e d way?
S econ d.
Should we undertak e to a c c e p t
from a member bank the d i r e c t o b l i g a t i o n s o f o th e r
member ban k s, secu red by n o te s as c o l l a t e r a l , i f
the p r o c e e d s o f th e s m a lle r member bank i s b ein g
used f o r th e ta k in g c a re o f m e r c a n t ile , fa rm in g ,
and s t o c k r a i s i n g i n t e r e s t s o f th e community in
w hich i t i s lo c a t e d ?
Some o f ou r l a r g e r banks d e s i r e t o be in ­
formed as t o w hether o r n o t t h i s p a p er ta k en from
sm a lle r banks as d i r e c t o b l i g a t i o n s , and secu red
by c o l l a t e r a l w h ich , i t s e l f , would meet th e re ­
qu irem en ts o f e l i g i b l e p a p e r, can be o f f e r e d t o us
as e l i g i b l e d is c o u n t s .