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INDEX January - June 1 9 20 Page Accept up to 100, power to, action deferred. 4/28 Bank of United States, New York City 1/24 Y. N. York, New Bank, East River National 1/30 City York New Co., Lincoln Trust /13 2 ia Californ Angeles, Los Bank, National s Merchant Accept up to 100,.;, power to, granted 3/2 Continental National Bank, Kansas City, Mo. 4/30 Denver National Bank, Denver, Colorado 6/22 Farmers and Mechanics National Bank, Fort Worth, Texas 4/30 Fidelity National Bank & Trust Co., Kansas City, Mo. 1/9 First National Bank, El Paso, Texas 4/21 First National Bank, Santa Barbara, California 4/27 Garfield National Bank, New York 3/2 Lawrence National Bank, Lawrence, Kansas 4/9 Liberty Bank & Trust Co., New Orleans, Louisiana 3/20 Mercantile National Bank, San Francisco, California d converte Merchants National Bank of New York City, when 2/27 into Merchants Bank of City of New York 6/30 National Bank of Baltimore, Baltimore, Maryland 6/22 National Bank of Tacoma, Tacoma, Washington 6/29 National Union Bank, Boston, Mass. 6/8 Pacific Bank, New York City 4/14 La. Roads, Pointe Coupee Trust & Savings Bank, New 4/9 The Jennings National Bank, Jennings, La. 6/30 Md. e, The Western National Bank, Baltimor 3/25 ton '4ashing Union National Bank, Seattle, 5/19 Ohio ti, Cincinna Co., Union Savings Bank & Trust Acceptance Credit: Financing shipments for packers under; copy of letter from Swift & Co. to member bank in Fourth District 5/27 re, Acceptance Renewals: Belgian, eligibility for purchase by F. R. Banks of; 3/6 letter from Mr. Kenzel Belgian Acceptance Syndicate; desire of, to have renewal of acceptances maturing in May declared 3/10 eligible for investment by F. R. Banks Acceptances: Acceptance market; statement by Gov. Harding in re recent visit to New York in connection with, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4/2 417 100 124 172 228 425 554 425 26 398 410 228 365 285 217 584 554 576 526 379 365 584 304 467 489 244 258-59 333 II Page Acceptances: (continued) American Acceptance Council; letter containing answers to Board's questionnaire on acceptances,and requesting permission to publish both questionnaire & answers 5/25 Armour & Co., and Swift & Co.; letter from Deputy Gov. Peple of Richmond re; Executive Secretary authoriz ed to visit Richmond in connection with, 3/9 Bankers': Discount Corporation of New York; copy of circular of,offering for investment of banks, prime bankers' acceptances, submitted by President of Baltimore Trust Co. 2/3 Oral statement of condition filed with ZRBank of New York by certain banking firms doing acceptance business; correspondence re, 2/11 2/19 Purchase of, by a ERBank from member bank with latter's endorsement; request from New York as to whether to class as rediscount 4/5 Purchased In open market and held by FRBank of New York as of March 27th.; memo. of hr. Paddock 4/9 Purchases of, by FRBanks from member banks; advice to FRBanks re, 3/9 Rate of rediscount on, discounted for member banks, established at 5;L, with minimum open market buying rate of 5,for Boston, New York, and Phila. 1/21 Rediscount rate of 5,; for; telegram to Govs. of all FRBanks modifying telegram sent Jan. 24th. re, 1/26 Reduction in minimum buying rate of, from 5a; to 510, reluested by FRAgent Jay 2/3 Special rates for open market purchases of; reply of New York to Board's circular letter (X-1837) re, 3/2 Banking corporations in New York doing acceptance business; dates of last reports of certain, written or oral, filed with FRBank of New York 2/4 Vice-Gov. to ascertain if the RBank has record on file of oral reports of certain of above 2/4 Belgian renewal, desire of Belgian Acceptance Syndicate to have declared eligible for investment by FRBanks; letter from Mr. Kenzel 3/10 Belgian renewal, eligibility for purchase by aBanks of; letter from Mr. Henze]. 3/6 Conference in Vashington April 20th. to discuss general question of, and rate of discount thereon, 4/12 Invitation to FRAgent Curtiss and certain bunkers of Boston to attend, 4/12 Invitation to iRAgent Jay, la'. Kenzel, and committee of acceptance bankers of N. Y. City to attend, 4/12 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 480' 133 164 192 342 364 250 81 102 135 i 226 141 141 256' 244 372 372 372 III Page Acceptances: (continued) Domestic: Abuse of; Gov. authorized to consult with General Counsel and submit letter for forwarding 3/27 F. R. Banks re, drawn of draft bank, Eligibility for acceptance by national by French Finance Corporation and secured by warehouse receipts, etc.; request from Nat. Bank of Commerce, 2/6 N. Y. for ruling re, to drawn drafts Opinion of General Counsel that carry goods for indefinite period not eligible 2/9 Eligibility for rediscount of, drawn against whiskey in bonded warehouses; negative opinion of Counsel re, 4/8 Etpire Petroleum Co. Acceptance Syndicate; offering of, by advertisement, stating their plan re acceptances 1/10 has approval of F. R. Board York: of New F. R. Bank Examination of specinen, by Gov. Harding, and statement that holdings of paper of this character 1/10 constitute prime bills of liquid nature in New York transactions of record containing Memo, acceptance market, and holdings of acceptances by, 2/28 submitted by Gov. Harding F. R. Banks; holdings by, of domestic and foreign acceptances in which five largest packing houses in 3/20 U. S. are interested; report to be requested re, Inclusion of documentary, by commercial houses, for purpose of financing imports as liquid assets for reserve against acceptances; request of Vice-President of 3/2 International Banking Corp. that Board authorize, 3/2 Reply of Gov. Harding Request for recommendation in premises; letter 3/2 from Gov. Harding to Mr. Henze' condition Lee, Higginson & Co.; statement of financial filed with F. R. Bank of New York, to qualify acceptances as eligible for purchase in open market; 1/22 advice re, farm and nature upon made be Board votes report of information given by all such firms,stating 1/24 whether oral or in writing 10% of excess in drafts accept Member bank; right of, to of capital and surplus when secured by wood or wod 2/26 pulp in Canada; letter from E. R. Henzel re, 2/26 above Reply of Gov. to acceptances re letter Mercantile Bank of the Americas; 2/9 drawn against importation of sugar from Cuba above to referred drafts that Opinion of Counsel 2/9 are eligible for acceptance http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 311-12 150 156 362 33 31 221 287 230 230 230 88 97 215 215 156-57 157 IV Pa# Acceptances: (continued) Notes secured by warehouse receipts covering automobiles; memo. of Counsel re practice of national bank examiners in passing as eligible paper 1/7 Comptroller to call attention of examiners to Board's ruling re above 1/7 Purchase of bills from accepting banks; replies to Board's letter X-1825 in re, 2/24 purchase of bills from accepting banks; reply of Chairman of F. R. Bank of Atlanta to Board's letter re, 2/17 179 2/3.8 les Purchase of bills in open market by F. R. Bank of New York; minimum rate of 510 approved on, 2/6 'questionnaire an; authority given Governor to send to FRAgents at Boston & New York for confidential distribution 4/24 Reserve against; recommendation of Mr. Kenzel that Board not approve as, acceptances of commercial houses as distinguished from bankers' acceptances; approved 3/12 Schedule of, held by F. R. Banks, of each of five leading meat packing houses in the U. S.; draft of letter from Board to Govs. of F. R. Banks requesting; ref. 3/23 Letter approved 3/25 Varying of rates on, to determine at what point to establish same, to create demand for acceptances; statement by Gov. Harding of purpose of F. 'xi. Banks of Boston and New York re, 1/10 Advertisements of State Member Banks: Draft of letter submitted by Counsel for transmitting Banks re, 4/5 Advisory Council: See Federal Advisory Council Agricultural and Livestock Interests: Newspaper Interview by Gov. Miller of Kansas City re fostering of, 8/10 American Acceptance Council: Answers to Board's questionnaire an acceptances, with request for permission to publish both questionnaire and answers 5/25 Memo. of Mr. Harrison making report of attendance at meeting of Executive Committee of, 3/9 American Bankers' Association: Inquiry from Deputy Gov. Attebery of St. Louis re propriety of his serving on committee of, 1/17 Suggestion from M. J. Dowling of, that Board submit to friendly suit of national bank against MBank to clarify portions of F. R. Act 1/23 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 21 20$ 149 404 261 29 309 32 309 460 250 84 91 Page American Consul at London: Communication from, to State Department, re reported method of British Treasury for paying off its 4/12 part of Anglo-French loan American Cotton Association: Invitation to Gov. Harding to address meeting of, at 2/2 Montgomery, Alamaba, in March : American Economic Association Copy of article "Prices and Banking Policy" read by President Forgan of Federal Advisory Council before, forwarded by Mr. FOrgan; ordered mimeographed and 1/2 copies sent F. R. Banks Anerican Exchange National Bank, Dallas, Texas: Letter from, to F. R. Agent Ramsey, in re condition im1/30 posed upon exercise of fiduciary powers American Foreign Banking Corporation: Branches: La Vega, Republic of Santo Domingo; notice of 1/27 proposed establishment of branch in, from Puerto Plata, Republic of Santo Domingo; advice 3/17 Corp. that it will establish branch in, San Francisco de Macoria, Republic of Santo Domingo; notice of proposed establishment of branch in, 1/27 San Pedro de Macoris, Republic of Santo Domingo; notice of proposed establishment of branch in, 3/17 Sanchez, Republic of Santo Domingo; advice from 3/17 Corp. that it will establish branch in, from Santiago, Republic of Santo Domingo; advice 3/17 Corp. that it will establish branch in; advice Domingo; Santo Domingo, Republic of Santo 3/17 re proposed establishment of branch in, plan re in position Board's Letter to, authorized, defining for financing Cuban sugar planters during "dead 6/30 season" to permit by, requested of Board Modification of ruling reserve of 3/0' against acceptances due after thirty 2/17 days 2/18 of Banking: Azerican Institute Chicago Chapter: Contribution by F. R. Bank of Chicago toward new 5/19 quarters for; Board's approval of, requested 5/25 Draft of reply prepared by Counsel Cal. Angeles, Los Pedro, San Bank, National American Marine Application for reduction in reserve requirements from 6/8 10-;,; to 7A, approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 370 127 5 121 109 278 109 278 278 278 278 581 179-80 186-87 469 482 524 VI American Telephone & Telegraph Co. F. R. Agent Curtiss elected on committee to investigate allegations of C. H. Verner in connection with suit against; Board's views requested as to propriety of his serving 1/2 Intention of, to increase by 100%, rental charged F. R. System for leased wire service; advice from Gov. McDougal re, 3/9 Renewal contract with; statement by Mr. Harrison of interview with General Counsel of company in re, 3/24 Telegraph service furnished Board at old rates; Gov. authorized to sign contracts 4/30 American Trust Co., Charlotte, N. U. Establishment of branch In Charlotte, authorized 2/6 Andrews (Representative): Resolution of, proposing investigation of claims of nonmember banks in Nebraska against methods employed by FRBank of Kansas City in collecting items on nonmember banks not remitting at par 2/2 Angell, Montgomery B., Assistant Counsel, F. R. Board: Detail of,to Treasury Dept. for purpose of accompanying Treasury's representative to Virgin Islands, req. 3/26 Anglo & London-Paris National Bank of San Francisco: Application of, to receive immediate credit for its national bank note deposits with F. R. Bank of San Francisco; explanation of FRBank's attitude toward, 5/5 Anglo-French Loan: Paying off of British part of; telegram from American Consul at London to State Dept. re, 4/12 Annual Reports, F. R. Banks: Abstract of; letter from Dr. Willis inquiring re procedure to be followed In preparation of, 2/5 F. R. Bank of Atlanta: Annual report for year 1919, submitted 1/22 F. R. Bank of Boston: Annual report for year 1919, submitted 2/9 F. R. Bank of Chicago: Fifth report, for year 1919, submitted 1/13 F. R. Bank of Cleveland: Fifth report, for year 1919, submitted 1/13 F. R. Bank of Dallas: Fifth report, for year 1919, submitted 1/27 F. R. Bank of Kansas City: Fifth report, for year 1919, submitted 1/22 F. R. Bank of Minneapolis: Fifth report, for year 1919, su'bmitted 1/16 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis VII Page Annual Reports, F. R. Banks: (continued) P.R. Bank of New York: 3/8 Fifth report, for year 1919, submitted F. R. Bank of Philadelphia: 1/29 Fifth report, for year 1919, submitted F. R. Bank of Richmond.: 2/20 Fifth report, for year 1919, sulanitted F. R. Bank of St. Louis: 2/17 Fifth report, for year 1919, sulmitted P.R. Bank of Jan Francisco: 1/13 Fifth report, for year 1919, submitted Director from letter Method of passing upon drafts of; 2/11 of Div. of Analysis & Research re; acted upon 1920; 15, May due bonds gold Treasury Argentine five year request from Deputy Gov. Case as to whether the 425,000,000 sold in New York market by syndicate should be paid off 2/28 at maturity for 1919-1920: Argentine Gold Export Movement Report re, and request for Board's views re FRBank of New York undertaking certain transactions involving 3/2 shipment of gold from London to New York Peple Gov. Deputy from letter of; Armour & Co., acceptances of Richmond re; Executive Secretary authorized to visit 3/9 . Richmond in connection with, bank credit, on 11th. June of News Morning Article in Dallas 6/15 forwarded by RAgent :Ramsey exERBanks all to letter transmit to Gov. authorized 6/i5 pressing Board's accord with views in article Asia Banking Corporation: Amendment of agreement with Board to provide that aggregate of acceptances outstanding, plus total deposits, not exceed twelve times subscribed capital 2/11 and surplus Certain security approved for, as reserve against out3/23 standing acceptances Shipment by, of silver dollars to Orient and selling sane without obligation to melt; advice re; 3/19 condition re melting waived Assessment of RBanks for expenses of Board for period 6/15 July - December, 1920 Assistant F. R. Agents: See under "F. B. Agents" attebery, O. Li., Deputy-Gov., F. B. Bank of St. Louis: Inquiry from, re propriety of his serving as member of 1/17 committee of American Bankers' Association Auditing of gold settlement and other funds of 2.R. Board; Executive Committee directed to submit to Board report 1/27 as to present method used in, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 246 118 194 176 45 163 221 224 253 540 540 163-64 291 282-83 542-43 64 109 VIII Automobile Paper: Ruling by Kansas City that undesirable for rediscounting, being non-essential industry; statement by committee representing local automobile industry re, 4/27 Board's position re, outlined by Gov. Harding to committee 4/27 411' 413 Itlilt Ball, Frank C. Inuiry from, re disposal of bank stocks upon becoming Class "LP director of MBank of Chicago 3/3 Ball, R. L. Copy of letter to Dallas re treatment of cattle loans in Eleventh District 6/9 Baltimore Trust Co., Baltimore, Maryland: Letter from, submitting circular of Discount Corporation of New York offering prime bankers' acceptances for investment by banks 2/3 Banco Leraantil American° del Peru, Lima: Opening of branch at Pirua, -L.:ay 15th.; notice re, 5/19 Bark Credit: Article on, in Dallas Morning News,forwarded by LirZsmseyEV15 Gov. authorized to transmit letter to FRBanks expressing Board's accord with views in article 6/15 Bank for lending money for growing and marketing cotton,etc.; desire of Gov. Dorsey to make public letter from Gov. Harding re establishment of, 1/10 Bank of Hasbrouck Heights, Hasbrouck Heights, N. J. Admission to F. R. System approved, subject to filing of corrected application 2/4 Bank of Italy, San Francisco: Aotion in acquiring national banks and operating same as branches; letter from FRagent Perrin and memo, of Hoxton re, 1/6 Report re conversation of Mr. Ether with Gov. Calkins re condition of, and request of the Governor in re examination of national banks controlled by, 1/22 Bank of Japan: Basis of participation by FRBanks under agreement of,with FRBamk of New York, submitted by latter 5/5 Amandrent to above arrangement approved 5/13 Contingent liability of MBank of New York in connection with bills purchased for; memo. of Mr. Emerson re publication of, 3/23 Contingent liability assumed by New York in connection with purchase of bills under contract with; memo. of 2.1r. Enerson in re the FRBank Showing, in statement of condition 3/26 Form of agreenent between, and RBank of New York 3/13 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 233' 533 468 540 540 34 140 15 85 436' 450 290 308 270 LK Page 1' ,S 3 i' 33 8 10 10 I 10 ra 5 35 50 ,93 05 ,70 Bank of North Dakota, Bismark, North Dakota: Placing of, upon mailing list, for all publications 4/13 issued by Board, approved Bank of Santa Maria, Santa Maria, California: 2/11 Permission granted, to establish branch at Orcutt,Cal. Bankers' Club of Pittsburgh, Pa. 1/28 Invitation to Gov. Harding to address, York: New of on Corporati Bankers' Statistics Estimate of present currency and credit inflation in the 3/27 United States requested by F. L. Farnsworth of, report District; Third in s condition Banking and business 5/19 re, from RAgent Austin business banking foreign do to d authorize ons corporati Banking under terms of Section 25 (a) of F. R. Act; regulations 3/24 re, ordered printed Banking Laws of Georgia: Proposed revised, submitted by FRAgent McCord, suggested 6/30 by Country Bankers' Association of Georgia 6/30 Reply of Governor Banking Situation at Atlanta and New Orleans: W. W. Hoxton to study, and to visit Atlanta and New Orleans 6/2 In this connection Banks at Fort Worth, Texas: Protest from, against discontinuance of district clearing 1/29 plan in Eleventh District; mmo. of Mr. Hoxton re, 1/29 1, Date of abolition of plan postponed until March that Jay Banks not remitting at par; suggestion from FRAgent Board publish list of, instead of those remitting at 4/12 par of lists Banks Gov. authorized to procure from F. R. 4/12 banks not remitting at par, and report Council: e Acceptanc American , Bean, Robert, Executive Secretary Letter from, giving pnswers of Council to Board's questionnaire on acceptances, and requesting permission to 5/25 pablish both questionnaire and answers Belgian Acceptance Credit: Eligibility for purchase by FRBanks of acceptances drawn 3/6 in renewal of; letter from Mr. Kenzel : Belgian Acceptance Syndicate Desire of, to have renewal of acceptances maturing in May declared eligible for investment by F. R. Banks; 3/10 letter from Mr. Kenzel re, Bill, H. R. McFadden & Stegall bills pending before House; confidential mem. to FRAgents enieodying terms of letter to be sent chairman of Banking & Currency Committee of House re, 3/16 Bill, H. R. 11918: (McFadden) Providing for amendment to F. R. Act permitting State member bans to be designated by Secretary of Treasury as depositaries of public monies, or as financial agents of 1/23 the Govt.; mem. of Counsel re, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 377 165 113-14 311 465 299-300 581 581 514 117 117 369 369 480-81 244 258-59 276 92 '· Bill proT1cl1ng for abol1 ticm cd 11Ub-treuur1ea; oop7 submitted. by Cha1num ot Hou.e Bmking & eurre~ Comittee tor OOmzMmt bj' Board • 2./6 GoT. authorised to request ur. Ja7 to attend baaringa b7 Com:nl ttee cm bill · 2/6 Billas • Drawn b7 oertain mat ·J*llcing houaea; attentiCD cd F. R. Banks to be oalled to, 3/9 Pu:rohue ot,\.trom ao oept1ng --bank8:a repliea tram aneral P. R. Banka to Board's l e tter X-1825 re, 2/2.A. Purahu• ot, tl'om aoeepting banka,; repl7 trca p. R• · jgct KoOord to B~ •a let t er re, 2/lB Reotor !rading co. ~ ... Tork, oomplaint u to bill• cd; letter trom ia. xensel l/?A B1.rekbea4, o. W., resignation aa Secrttt&ey to Conpt.rollar ot 01JrHno7, r@Orted 6/30 re~ Bot.rel'• 149 165 100 - 58' to SenateBeaolutiCD 3281 Suggeated. amendmnt to, Bcm4.ernea Bank of Chriatianias 3/27 3U to ordar ~ S&Dteri· lftaort&n; camel.ling ot • b7 ll'Y1n• . Bat. Bank, approncl,upott requeat ot Dr&tt drun b)', Acting Dired"tor, Div. Foreign Jtzohazag• 5/?Z, B<mdas GO'ft rmDCl t I Value ot, U HOuri t7 tor loan.; letter from 1. R. Bank ot £tl111ta re, 6/22. RehtuA, J. '·• bcmd u Aot'ing A.sat. ifU gent at Ph1la. ti-4 at t60 ,ooo 6/22 Jllltledge, Oharl.ea G. • band t 1DCl at $50 ,000 aa Aotlng uat. illApnt at Chicago • 6/15 State and mnio lpal 1 wl thholcling cdt•riD811 ot, 1D Ti• ot ·preaent tinanoial ocm41ticma,.n ggeate4 lr7 c. s. DmUaoll A oo. ot Bo•toll 1/12 u. a., appl1oat1ona tor aale ot, aumitted, hti4 b7 !r...wer ot u. s. to MOW• :naUonal bazak o1J"culat1cm. lm4G' Seotlcm 18 ot 1. R. Aot 3/23 114rloe trca OoT. m.ller tbn IBB-* ot Ka-• OU;;r ia ill poa1t1an to diapoee ot oertalD, and requeatlnc Tien ot Board re; Board taarable 3/2? u. s. •a Bcmma 1. B. Bank ~ J.tlaataa · SohMnle ·..pt extra 00"1*'1&\icm tor mpi0799.-' tor periof. .Jm. l - ..nm• 193>1 · a/u, Jmk. of loetOlla . . $be4»1e ot •~a OOJll>enaatlan t~ •llP10J9~ tor tirat 11a1t ot 18V 1920 . a/e '°• '·a. .•• a.... of Oblaapa ~u.,.1 . http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • - o...,..a*1oa tar empl01ff8 tor tlr•' turt•, 19201 ncom1w'•'1cm H ~ d. au.uate 8Mecbll• -· .um''"••· JedldiK 3l2 al• 290 311 XI Page Bonus: (continued) F. R. Bank of Chicago: (continued) Schedule of extra compensation for employees for 6/24 second quarter, 1920 F. R. Bank of Cleveland: Schedule of extra compensation for employees for 3/8 first quarter, 1920 for ees employ for sation compen extra of Schedule 6/8 second quarter, 1920 F. R. Bank of Dallas: Schedule of extra compensation for employees for 6/24 period Jan. 1 - June ao, 1920 F. R. Bank of Minneapolis: Schedule of extra compensation for employees for 6/23 period Jan. 1 - June 30, 1920 F. R. Bank of New York: Schedule of extra compensation for officers and 3/25 employees for first quarter, 1920 and rs Schedule of extra compensation for office 6/24 employees for second quarter, 1920 F. R. Bank of Philadelphia: Schedule of extra compensation for employees for 6/22 six months ending June 30, 1920 F. R. Bank of Richmond: Schedule of extra compensation for employees for 6/24 period Jan. 1 - June 30, 1920 F. R. Bank of San Francisco: Schedule of extra compensation for employees for 6/23 period Jan. 1 - June 50, 1920 o: of Ohicag Bank R. Booklet issued by F. Language bearing on fiscal agency operations in; MOW. 2/24 of Mr. Emerson commenting upon, Boston & Maine Railroad: Loan of 45,000,000 to; recommendation of Railway Loan 5/28 Advisory Committee for approval of, Boston Clearing House Association: Adoption by, of maximum rate of aeo on net and available 2/6 bank balances; advice from Thos. P. Beal Branch Banks, Domestic: American Trust Co., Charlotte, N. U-, authorized to 2/6 establish branch In same city sion permis d Bank of Santa Maria, Santa Maria, Cal., grante 2/11 to establish branch at Orcutt, Cal. ized author Brighton Bank & Trust Co., Cincinnati, Ohio, be known to operate branch at Cheviot, Ohio, to 1/15 as "Cheviot Branch" assets Ohio; Citizens Trust & Savings Bank, Columbus, acquired by, of Lincoln Savings Bank of Columbus 2/11 branch as e operat and permission granted to http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 570 247 524-25 568 563 305 569 552 568 564 202 494 151 151 165 56 165 . XII PaBt Branch Bmk.s, Do•eti o i. • ) ,, (con tln'al d) ClnelmMl '?rust Co.• Cl•ftlan4, Ohio , grrcitecl permieaion t o eetU111h branch at 'feet Park. subm''b ot CleTelaD4 Clnel&Dd. ~t co., Clnelan4, Ohio, grated pen:zlaica to operate Hough Sa'Y1D81 B&k ot Cleirelan4 u bn.nch · Coltlllbia Bank ot Bn York ,granted permi.a aim to iah branch at 'IJeetoheeteir A.Te. & Southern BlTd. ,Bro:nx.S.Y. Comne~al Sa•iJiga Bmk & 1Turt Co., !olecio, e111o• autborised to eatabllah branch 1n Toado Pan:m'• a.,lrlng & 'rrult Co., '?arboro, B. C., grantM. _ pe:miaalcm to eetabllah branch at DeS8'9tta, . • · c. Gll&l"41U SaYbaga & '?raat Oo., Cleveland, autbor1S84 to eatabllah bramh at Roo.ky River, Ohio ••tPl ~ Bank.s, •. 6/U 567 3/23 3U 3/25 302 3/2.5 3/lf> 1/8 B. S7S t•a Baltlmr•s K:nena1on ot aotirlt iee and enlargement 06 bran:h; report re, 5/15 ~taras Bir:pmd 1 tan ot not more than $1,000 ,000 tor largv, nquu te4 bJ' JllBmk ot R1ahman4 6/1 RxpeM 1tare at amt not emM41Dg P>O ,000 4 or a1 ie, & 1Dql11.r7 re prloe ot re•tncter ot 'block with • 1• to tuture ~icm, llpprCJft4 6/8 BxpeDllitllre ot $260,000 1n aoqu1a1t1GD ot additiaa- al pr0J>ert7, apprOTecl Pm'c.hu• ot propert7 at ~t ot CalTel'\ 6 Lexington Str•t• tar ,000; a&lTloe re, 461 510 6/?.Z 561 6/29 576 Blpl.019••; oh&@Jta 1.n aalariea, etteoU•• Jan. 1, 1920, appl'OTed. 2/1.2 1'10 Salarieaa ~ .B., Aaat. P. R• .taenta letter tram, to Gen., re pnoD&l tlnanai&l obligaUon.a u .aacrthag ottl al&l poe 1 ti ca Oo'bn, J • bttic, • ·a., 48aipate4 Oha1rma1l or Bou-cl oC 'r&ah tor 1911r 1920 1/17 Qarteraa Jl---.1 ot lease ot, authorlsecl Ja1'falo1 i.r-i.na ~mnt to, allowlJ:lc diftoton . llllltecl i JGINI"• to 11pCID applioaticma toz 1'941aoomia p•• --~ ~' a/e o~ ~ara 5/5 -·- •/u •:ta to, re appointing ..i.-oo-1 tie., ~ ..-.n to reeelTe atte""•o• t . . . aal aUCl'N•• to eoftr traTell!Dg 6/U 111 tr Up-•• Sal~i•a · ' lmnaM• la, ot ·cvtata ~~ .. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis XIII Page Branch Banks, F. R. System: (continued) Buffalo: Sub-commdttees; amendments to by-laws of branch re appointing, the members to receive attendance fees & allowance to cover travelling expenses Cincinnati: Salaries: Lazar, B. J., Cashier, salary approved at $3,900 per annum Staff of, Lazar, B. J., appointed Cashier, vice R. B. Barrett Denver: Directors: See under heading "Directors" Salaries: Adjustments of; memo. of Mr. Paddock recommendbig action on recommendations for, Staff of, Conway, Albert J., appointed Assistant Cashier Olson, Joseph E., appointed Cashier 6/22 558 3/9 255 3/9 255 1/2 2 6/8 6/8 527 527 Detroit: By-laws; amendment to, providing for Beard of Directors 1/26 of five, instead of seven, members Directors: See under heading "Directors" Salaries: 6/24 Increases in, effective July 1st. Staff of, 5/19 Maurice, F. J., appointed Assistant Cashier El Paso: Board of Directors; copy of minutes of meeting of 5/11 April 13th„ submitted 4/28 re, report ; of recent gation Defalcations at; investi Directors: See under heading "Directors" Executive committee; fee of $2.50 allowed directors 5/19 for attendance at meetings of, to fees nce t of attenda paymen Executive committee; 4/21 members of,requested by FRAgent at Dallas $5 of fee that on endati recomm tee; Executive commit be paid directors for attending meetings of, 4/29 disapproved Salaries: Adjustments of; memo. of Mr. Paddock recommending 1/2 action on recommendations for, per 42,000 to ed increas salary F., Britton, J. 4/21 annum Davis, H. P., salary increased to 42,000 per 4/21 annum http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 103 570 469 446 416 467-68 400 419 2 402 402 _, XIV . .\ Branoh ~. P. gi. :a. Ss"stea, (oontinuedl Paao: (com 1D:ad) Salari•1 J:n.:nu• .1D 41.aey cm one emploJBe • Ore:nt, " · a., aal.&r'7 ine:reaaed. to $2,000 par -~ 6/ll ~ ~ ~ SU'a1.ll.,.1. L., aa.la.r7 inorea.sed to $1, 000 per annum 4 / 2.l ~ la c-.h at; report re 4./9 Statt 40' JU ~. JUng, 3 . L., appointed Aaalstant P. R . Agmt Slrglea, .lllm._ appointment aa uat. C&shier 2/2.A. 3/2 3 201 291 4/2.13 415 6/15 461 5/19 407 6/15 539 'f.U\1 RxpmJS m:re tar 1n1talllng lix money oheata in, Bele:nai Board ~ Direators; appointee• to, 1uggeated b7 P . R • .&gent !li.:h Dln~torss S.. llDder beading •Directon• Karlow, 'fto=na, GH1gnat ion aa Cbainmm, Board ot Dire tan ~81 Pm'Chase pr Lee of ai te unduly high; . let t er trom Thoa. P. JfNvme7 to Senator 'lalah allegi.Jlg, 3/4. Houataa; - - 1 - ; • • 1•-11t to, allowing direotora $2.50 tor attad-:e at executi•• ooaml. ttee metinga 5/~ 2/13 CM097, '· i:., reaipaUcm u direotar Dafalcalona d; nport r• lnveat1g1.tlcm ot reomt, 4/28 ,pirectora1 See 1DlC' bHdfig •Direotora• suc:n41Te ao-1 ttee; oL t2.50 allowed direotora for au_.i~..,. at ••tillga ot, 5/19 , Kzeo-~u .. h• i:i 'U•; NOOJDendaticm that tee ot $5.00 be pa14 d..lnG\.ara tor at ten41ng meet 1np ot, cl1•8P.Jl'Olrel . • •/29 BJ:pmdft:me of ll,666 in accouatical treatmnt of walla~23 237 t•• 1 ' ~· .idi:l.lUm:•J 292 apace apooired tor, to be renOTatecl to Sl:lli ll99da Salari.9s 419 . or br&mh 4./5 .&4.Jaa...U ~; mm. of irr. Pa4doalt reoomnrdtna ~~a. Doa&t• • .lolm o•• aalai7 1.nanued. b ... I a la. oC two eiploJ9U ' Lr, S.. •·• JllllUl&WI'. inoreue 1D aa?az7 reo01D21I; m~lon ~encl D1U.. c. J.., Chle~ Clvit. a&laJ"y approYed at , , IZ..., par ~ http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - . .. , • 1/2 3/U> 5/11 S>4 2 1/6 13 3/29 Sl6 446 XV Page Al 40 461 4e 60 0 i 48. 10 411 4611 291 30 44 10 31 Branch Banks, F. R. System: (continued) Houston: (continued) Shortage of J10,000 in cash of Paying Teller; report 4/9 bearing an, Hoxton Mr. of memo. departments; Shortages in certain 1/22 suggesting no further action re, Staff of, 3/23 Dignon, Lawrence E., appointment as Asst. Cashier 2/204 Manager appointed F., Gossett, E. 2/24 Cashier appointed S., Miller, Paul 2/24 Niendorff, J. H„ appointed Asst. F. R. Agent Jacksonville: Cooper, John C. , designated Chairman of Board of 1/17 Directors for year 1920 ;tuarters: Lease of, for five years, at annual rental of 1/13 $6,000,approved Little Rock: By-laws; amendment of, to authorize appointment of 6/29 Asst. Cashier Directors: See under heading "Directors" Salaries: 6/29 Adjustments in, of officers and employees Los Angeles: By-laws; amendment to, allowing directors J10 fee for 5/11 attendance at executive committee meetings Directors: See under heading "Directors" Staff of, 5/5 Shepherd, C. J., appointment as Manager Louisville: By-laws; amendment to, authorizing appointment of 6/29 Asst. Cashier heading "Directors" See under Directors: Salaries: 6/29 Adjustments in, of officers and employees of, Staff 6/29 Muir, Earl R., appointment as Asst. Cashier Memphis: Directors: See under heading "Directors" Expense item "luncheon,conference officers and managers, 2/11 428.35"; no objection by Board Zuarters: . Lease of Goodwyn Institute Bldg., with expenditure to cover vaults and surrender of present leases 5/5 in building, approved Salaries: 6/29 Adjustments in, of officers and employees Staff of, 6/29 Fuqua, V. S.,appointment as Asst. Cashier http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 366 85 291 201 201 201 63 45 576 579 447 433 576 579 576 166 435 579 576 DI .Brano.h Bank•, SJ- t • i ( oon tinued) · ·"'? Bar~ord, 'I. B. , deaignat.d Oh.airman· of Board ot l / 17 D!reotora for 1920 Bew Orleana 1 Baah, A. P., designated Deputy Chairmn ot Board ot Direotora tor 1920 ' 1/ 17 Di aoounta: apprcnal ot method ot paaa1~ an, requoated 07 F. B. Agent lilOOord of Atlanta \. .- 2/6 Telegram trom .Board to Manager ot, re meeting 1.n ?Jn Orleana,Feb. 6th. ,tor diaauaaion ot Boarci'a ·p&r oolleoticn plan 2/5 Cltlahona 01 t7' Dmiel, C. E., appointed J&aD.ager & Direotar 6/8 Direotora I See under madlng "Di.re 0 tors" Earhart, L. H., reaignatian u Jlanager &: Direotcr 6/8 Quarteraa Conaluaicm ot l eaae tor, at t550 per .month,approvecl 3/~ ln&b1l1~ to acquire, at reaao:cable rental; advice n, 2/19 Report trom GOT. Jliller ot· Kaua.a 01t1 re v1a1t to Qklal:uma Oit7 in aearoh ot auitable , ~ . 2/25 P. B. •aahTUle: • ) atatt ot, Daniel, c. E., appointed Manager & l>ireotor Barba.rt, L. B., reaignat10ll u Kanager ' D1reotar Omabas D1reotora 1 See under heeding "Direotoraa Barb.an, L. ll., appointed Jlanager Ir D1reotor qMrteras l~ 6/8 6/8 6/8 Ptu'ohu• ot 1&rnlml Building at ()M,ba tor perwment qurtera, author1H4 Salar1•1 !,4Juatmenta ota memo. ot 11r. Paddoak reoonnend'ng &ctlaa 1n re, Bar~, L. n., .Actmg Vanager,•ala17 approftd n f',500 per •nmm Statt ot, Bu'bari, L. H., appointed •anager & Dlreotar '1-ecbml., P. B., appoint eel 0Uh1er lleilliater, B. D., rea1pat1cm u euhier !elegr&Jb aerYioe betwen, and. Kanaaa Oit71 oontraot OOT•ing; P.i' tabar&tls 6/6 1/2 2 4/13 6/8 6/8 6/8 5/Ui Qmrteaa PVohue ot Seocmd ~oul. BaDlt Blcta. at J»1ttaburgb • tor • • of, appl'Offll. ~·~,~, 1/22. Pol: q ot !reu1117 J)ept •. 1D oc; · •litat1Dg inatruoticma to1 · .. lett• 'bf J1r .e Left1JJgwU n.'·'v, . · 4/t http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I 8' I Page Branch Banks, P. B. System: (continued) Portland: By-laws; amendment to, allowing directors $10 fee for attendance at executive committee meetings,approved 5/11 Declination of e. R. Bank of San Francisco to establish clearing account with, for Broadway Bank, Portland 1/13 Staff of, Laming, C. L., resignation as Director and Manager 4/27 of Branch Salt Lake City: By-laws; amendment to, allaying directors $10 fee for 5/11 attendance at executive committee meetings Staff of, Motherwell, R. B., Manager, salary sane as when 4/14 Asst. Chief Examiner at San Francisco Seattle: By-laws; amendment to, allowing directors $10 fee when 5/11 attending executive committee meetings Salaries: Shepherd, C. J., Manager, salary increased to $7,000 1/13 per annum Staff of, 5/5 McLean, C. A., appointment as Acting Manager Spokane: By-laws; amendment to, allowing directors $10 fee for 5/11 attendance at executive committee meetings of, Staff 5/5 Partner, W. L., appointment as Acting Manager Tulsa (proposed): Resolution of Directors, Kansas City, approving appli1/20 cation of member banks of Tulsa for branch there 1/20 Establishment of branch disapproved by Board Branch Banks, Foreign: Antwerp, Belgium: National City Bank of New York advises of opening of 1/28 branch at, on Jan. 21st. Barahona, Dominican Republic: International Banking Corporation advises of opening 4/24 of branch at, on April 12th. Cape Town, South Africa: National City Bank of New York advises of opening of 1/30 branch at, on Jan. 15th. La Vega, Republic of Santo Domingo: American Foreign Banking Corporation advises of proposed 1/27 establishment of branch at, London, England: National City Bank of New York granted permission to 2/2 establish branch in, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 447 46 411 447 380 447 47 433 447 433 69 71 111-12 405 124 109 129-30 Dlll \ ' .. .., Branoh &mk•, Jor6ig111 ( oon tinuecl) BDglm4s • · lat1onal Ci t7 .Ba:Dk ot Bew York granted peraiaaiCID to aatabliab sub-branoh in, Ma41'14 Sp&ins Batfpnal Cit1 Bank ot Bew York a4T1sea ot opening ~ Lon~ branoh at, 6/8 4/8 Pirua, Perua OpeJling of branob at, Mq 15th., ot BlmOo uarcantil .Amerioano del Peru, Lima; ~ot1c• re PDtrto Plata, Rapublio ot Santo l)omingo: .U.rioan Jor•issi Bamktng Corporation a4Yi.a•• it will ••tabllab branoh at, \. 5/l!J 3/17 San Pr~oiaoo 4e Jlaooria, ReJl'lblic ot San'o ])rwtngoa Aaiiirica Joreip Ba>rtng Corporaticm a4T1•• of propoaed u tabl1ahment ot bramh at, 1/27 San Pedro cle llaooria, Re;piblio ot Santo J>omlngoa Amtrioa loreign BazJktng Corporation a4T1M• 1 t will aatabllab branch at, S/ 17 Sanobls, Rapiblic ot Santo Domingos l.lmriel& tor•isn Bamktng Corporation adTiMa it will aatUliah 'branab at, S/17 Santiap, Rapubllo ot Santo Do-tneos ~loa for•issi Bmktng Oorporatimi a4T1Ma it will ••tulllll lu>anoh at, 3/17 Santo J>om'D&O• ll~io of Santo Dc1n1ngo1 .Amr1oan Joreip Baking Corporatlcm u wU1 eatUliU. branch at, 3/17 Brightc:a Ba12k 6 ft'Uat Co., Clno1maatl1 Cllios .l1lthor1-4 to operate branob at Obnlot, <»Uo, to be mama u "Obnlot Bnnah'I · 1/15 Brltlab lczth .&mrJom Bak, ot Saa bamlaoos Bl1g1bll1 t7 tor mamberahip ot, 1n •1- ot ecmtrol b7 Bank ot llmltreala 1Jlquirf t:roa San i'ranoiaoo 6/15 Brit1ab !nUU171 ll9POl'te4 1Jltent1<m Of, to p-arahue do'llriti• for pqiDg 9tt- Br1 tiah part ot .&zlglo-l'renall loaa t•?.ecr- trcm !Wlom c-.111 ~o State ~' 4/12 Broe.... la*, Portl-4. Gregan1 Deollaatloa ot P • .It. llDk ot au l'ramtaoo to eatuliall olear1q ~oant tor, with PortlmMl Bruo1l · l/U ll!na, •· o., 1'Na14mt, kUcmal LtT.took .uaootaUmu IDY1t&tl• fl-om. to ..-9-of loar4, to ailr'w oollfflltl• a4Ti••• at i.m• ot ll••toak . . m O!doaco, - . lftla.~hled.-. ~ to . . - et&tamt o• n.. 6/a ' Bula•• Ooll41 tlou1 alarp4 ~na •1 .uitt-au to toroe ~ !'JI"• _,.,. tor •>cine. at an ...1Jlh1a& .tdoe " · . 1/U i.atter fl-~ Dr. Willia n M0111'lq •aea-""7 ~ 1/m . ,,... De09uaz'7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis !S'IO 616 Page Business Conditions: (continued) Review of, in Second District, from Asst.Agent at N. Y. 4/17 Byars, J. Cloyd: Letter from, criticizing action of Board in increasing 1/26 discount rates By-Laws, F. R. Board: Amendment to, covering publication of resolutions of 3/30 personal character 4/6 Revision of, 41 51 51 C. E. Denison & Co. Letter from, re State and municipal bonds, suggesting withholding of offerings of, in view of present 1/12 financial conditions Tenn. Caldwell, James E., President, First Nat. Bank, Nashville, Letter from, re F. R. Bank discount rates and general 4/5 discount program of F. R. System Call Loans in Commercial Centers: Draft of reply of Gov. Harding to Senate Resolution 328 3/26 in re, approved Canadian Society of Philadelphia: Advice from, re bettering of trade relations between the U. S. & Canada, by appointing special representatives of Canadian Govt. in each consular district in U. S. 5/5 Capital & Surplus: French-American Banking Corporation; amendment of agree1/12 ment with Board in re, applying banks member against "Graduated excess charge" for rediscounts in excess of; memo. of Counsel re 1/12 proposed plan whereby RBanks may impose, Referred back to Counsel to obtain opinion of Consulting Counsel & report if action ever 1/15 taken by Board along similar lines Opinion of Counsel requested as to whether in reduction of capital stock of a MBank its general surplus of 6/9 t should be reduced proportionately ; loT agreement to amendment Corp.; Banking Foreign. -Union Park with Board so that aggregate of acceptances outstanding,plus total deposits, not exceed twelve times 1/28 subscribed capital and surplus from borrowings whose banks member showing Statement FRBanks were in (mess of, Jan. 31, 1920; attention called to, and statement ordered furnished weekly, 3/18 including item re reserves Capital Stock: See Stock http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 391 104 321 347-353 38 337 307 432 41 38 56 532 113 281 • •,.r;- • Catta Granra1 Bnin ol aituatim of. •1J889•ting relief through l o wer diaoount ratea. ti-om Pre-1.dant of Kanana 01 ty Live ~/21 Stook C.ttle In<h18t17 1n ftnth Distriots O&ll -.de by repreaant at1Tea o! , at F. R. Bank at K&au City; letter trom GoT. Uiller re,and re effeota ot graduated. diaoount r ate plan upon thia induatry 5/10 J'in&Dal.ng. mthodl used in; · report from Gov. Killer 5/15 cattle Loana1 Draft ot let ter, aubmltted by Kr. Moeblenpah, tar sending F. B. BaDka in re exten.ding aoooDIDOd&tiona to farmer• oarrying ·~ oattle•; aaticm re, 6/28 Treatmmt ot, in Blnenth D.1.atrlot; lett er t'rom R.L.Ball to Dallaa r • , 6/9 Cc tral Beaene 4' Jl•••n• Cit tea 1 Clhattaooga; uaip.atim ot, u a oolmtJ7 'b&Dk oi t;J, reql»atecl bJ Chattanooga Clearing Houae .Aaaooi&tion 1/17 ~aUcmn•tre tor aecUng eaonomla'ta, eta., in re reclua 1tlcat1aa. ot, ad re reaene and net deposit 11&bil1t1•, nlmitteil b7 i!Ugent Curtiu l / 17 Oertit1oa'8a ot l.n4e)~••1 Bat abllalwnem b7 a IBBenlr ot pr~erential. rate upon member " bank not• M<nlrecl 197, with tlpproTal ot IB.Boar41 mmo. ot Coma el re poaal lill• proaedure ot Bank in SWlh oue 1/22. Iaaw.noe and 1'9U.~i ot ane-y..r !r...\117, to aeoure '· B. Jmlr not• oirclllatlcaa opinion of Counael u to AAthor1t7 ot s.<sreta17 ot ft'e&aU17 re,1ZDder Pittmn j,ot 4/5 1 Liberal subaor1pt1ca to n• Tre&aUJ7f . telegram trom GOY. Bard1Dg to Chair- ot IIRBmka requeatlng, 1/7 f'rtuUr71 letter trom Semtor '!hoaaa m re pol107 ot f'reUlJl7 Dept. re lJltereat ratea ea, t0g9tbe w1 th let t er fro• 8eonta17 ot Treu1U7 3/17 . Letter trca Saatcr ftgeea ret•N4 to S.Cll"etary ot ft'9u1117 tcr repq 3/23 Tre&al1171 report re ot oae..Av ~. b7 u. s. 'lreuurer, i o •lea to acner cnU'd:l'~t• a/a b°eUUl7.a repon n 1U119 o~ GD*-4-W 2$ b7 u. s. \treUQ.1'_.. to 'f t-lra to aoqr cw..aafta · 3/19 Tr•UU71 retire..• ot mY-J'NI' 8J>eal&l, 4epoalte4 to aec111"9 Jllllwnk • • • •tur1JIS cla.rlDC QZ'Ua ...,. ot Blri>.,. - I 4-1' 1••• ..nca re aeoartJts Seontal'7 llr'. ~. 1 ft'eUUl'J' • • op1.nicm ~ Gnamar_tha& Seoa•sq 4oea not u• .... t-11ale at preaet U.. 4,/& / OertU1oatea ot Ottloe a - ll.,on ~ 1'1nlalalac of •ftltUle, to mnowra ~ •lmk• ali4 ; Ottlcera Ult: ~· ~ D1Yla1- o6 •· B. Bcm"4a nao•w•hUcii ~ *'• wt>>er · ·'" http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis . .. r>/10. . .....- Page Chattanooga Clearing House Association: Application of, for designation of Chattanooga as 1/17 country bank, instead of reserve, city Checks: Regular blank, placed in custody of Fiscal Agent, to be 4/1 written and issued from his office Chicago Clearing House Association: Reluest as to whether, should occupy space in proposed 6/15 new bank building of F. R. Bank of Chicago Cinco Minas Co., New York City: Protest from President of, against shipment of silver 1/9 dollars to Orient Circulars, F. R. Board: Circular to FRAgents, and form for exemption of officers and employees of FRBanks when on official business from Federal tax on Railroad and. Pullman tickets, 6/29 submitted by Asst. Counsel Angell No. 21; amendment of, to bring within intention of Board 1/26 as disclosed by recent rulings in specific cases No. 21, re eligibility of candidates for directorships; report of Law Committee suggesting no further public 2/13 announcement re, Citizens Bank of Fort Valley, Georgia: 4/24 . Application of, for admission to System, disapproved Cltizens Savings Bank, Pasadena, Cal. . Recommendation of Counsel that bank be instructed to omit word "National" in advertising connection with System 2/6 Citizens Trust & Savings Bank, Columbus, Ohio: Assets of Lincoln Savings Bank of Columbus acquired by; notice re, requesting permission to operate as branch 2/11 City Trust Co. of Newark, N. J. 2/17 Conditions of membership of; memo. of Counsel re, Directorates) Interlocking (See also Clayton Act: Directors of national banks serving as such in violation of; letters to, submitted by Asst. to Counsel Francis, D. R., Jr., eligibility of, to serve as director of Merchants Laclede Nat. Bank of St. Louis; reply 3/17 of Gov. to communication from bank re, Recommendation of Law Committee for disapproval of 3/18 application Violations of; letters for signature of Gov. in re 1/6 reported, submitted by Mr. Wyatt Clayton Act Committee: Authorized to review situation in each F. R. District in re interlocking directorates, and to summon RAgents 4/12 to Washington for consultation http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 66 329 540 27 579-80 106 173-74 406 151 165 177 353 277-78 281 14-15 371 D.II ClearlJ:Jg & Colleotians •Clearings - ~ Bmk, Portlmd, Oregon; declinat.1.cm ot San Fran~iaco to establish c learing ao ~tmt for , with Portlmd Bran.oh l / 13 Diatr ict oleari.Dg plan in Eleventh Dist.; f'Ur ther re t erfJDoe to etfeotive da te 'et abolition ~. l /24 Distric t clearing plan in EleTenth Dist.; protest agairiat disoon tinuanoe of, trom banks- at Fort Worth, TelCU; memo. ~ Kr. Boxton re, 1/29 Date ot <&bolition of plan po1tpoll8d to Maroh 1, 1/29 F. R. Bank of Kanaaa Cit7 par oampaign; oomplaina.nta a.go.inst, to be noti:tl.ed Board will grant hearing bu t not receive depoai ti on.a 4/6 Par olearing -.oest ion; A.pril 28th. and 29th. set aside bJ Board tor purpose of bearing Nebraaka bankers on,3/24 Beeolutian ot direotora at A.tlanta re putting i nto et tee t ~ges by member banks upon oua tomera on out ot town ohecka cleared through ~ R. Bank 2/24: !alle7 alearin8 plan; protests aep.inst abol i tion ot, t'rom ftrlous member banks in Eleventh Dist. 1/17 Clearing Oaten s see lmder beading "Cl -.ring Cant era• Coll eoU aru Aot ot lil•a11a1pp1 legialature to prevent P. R. System entoroing provisions ot Seotion 16 of Aat re e.xoban811 obarps bJ non-member bank• 3/6 Bmka 1n Pitt1burgb, adoption bJ, in tuture, ot par oolleotion ot obeoka; ua'IJl"anoe glvm G-Ov. Harding re, 4/24 Cbarge1 impoaed by member ban.ks on ouatomera under Seotica 16 o'l JR4ota letter trom Boa.rd ·to Banlm .. , appl'O't'lDg, cm baaia ot intereat at fJ$ per annum tar tim ot item in tranait Clearl:ag Bo"Qlle .U1001at1an ot .ttlanta, Ga.; .2/2.4 report n !allure to mak8 etteotive,plan tr:r dltferentl&tlan 1n achange ohargea against 1tema 0£ banka not an par liat 1/30 CoU.otlan agemiea 1D Xleventh Di• t.; eat&bllalumnt ot •rta1Jl, HaoDDadecl 'b7 PfU89nt llw•1 2/24 0«9l•tnt h'oaa ••bruka Dept. ot !rad• & Com.roe \n re •tbo4a ellpl.0194 b7 iBIAk ot X8J'IU 01 t7 in colleotlcm ot i t - ot non-mmber baka not olMl"ing UJU" 2/2. .•••• Bmlka to be a4T1MC1 to route amoks ~ parring ~lllber bmk.a 41.not tor oolleot icm, and not tarwar.i to national bau . 4/SO •thocl of, oOUeoting 1 \ - on ne»-m1.d>er 'banua letter . ~ B.lgeDt Keath 1/4' http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .. .r- , l~ 201 MrJII Page Clearing & Collection: (continued) Collection: (continued) Par collection system; changes suggested by Deputy Gov. Peple in letter of Board to House Banking & 3/24 Currency Committee re, Propriety of FRBank receiving for collection maturing items forwarded direct from member bank in another district for account of the MBank of such district; memo. of Counsel in response to inquiry from Dallas2/17 Restraining order of Fulton Superior Court issued to FRBank of Atlanta, in re collection of checks; 1/15 telegram from Bank re; reply of Board approved from Modification of above order; advice re, 1/17 Counsel Randolph of FRBank of Atlanta on banks member Schedule of charges to be imposed by customers for collection of items on out-of-town 2/20 banks; Gov. authorized to submit appropriate, to, Section 13 of F. R. Act; proposed amendment defining position of ERBanks re collection of exchange charges by non-member banks; letter from 5/5 Gov. to House Banking & Currency Committee Clearing Canters: 4/14 Statement by Gov. Harding re, Clearing House Association of Atlanta, Ga. Failure to make effective, plan for differentiation in exchange charges against items of banks not on par 1/30 list; report re, Clearing House Associations: Extent Board may count upon cooperation of, in securing nation=wide par collection by differentiation in ex• change charges against items of banks not an par list; 1/30 request made PRBanks re, Clearing House Representatives: See "Conference of Clearing House Representatives" Clearing Houses: Suggestion to be untie certain, for no changes in rates an deposits pending report of conference of clearing house 1/6 representatives in Chicago, Jan. 23rd. Clement, Norman P. Permission granted, to serve as director of First Federal 4/17 Foreign Banking Association Cleveland Trust Co., Cleveland, Ohio: Permission granted, to establish branch at West Park, suburb 6/24 of Cleveland of Permission granted, to operate Hough Savings Bank 3/29 Cleveland as branch Coal Commission: Goldenweiser, A. E., Asst. Statistician of F. R. Board, delegated to assist President of Commission for 1/10 temporary period http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 299 175-177 57 66 196 '451 379 122-23 123 19 393 567 316 35-36 C:Obba. J. B•• A.sat. F. R. Agent at Birminfl)ums Peraonal tillllJlOi&l obligations in r elation t o official poal Uon; l et ter r e • Codeas Code tor a4Tiaing 11BJ.genta of oondit1ons imposed upon memberahip ot St ate ' inat i tut1ona Beoo.,,.-nded oha.ngea in dlaoom:it r a tes to be tra.nami t t ed in oode - _ \. 3/8 2/ 2 2/ll Coerooin to oompel Sta t e banks to Joi n F. R, System. or to aubm.1' to rule a or reg\llati.ona made b7 Board or .PRBanka; reao luUon of Senat e requeating infornation trom .Board u to truth in r e . l /20 Dratt of reply to Preeident of Senate in re above 1/27 Cotte7. w. c •• Cha11'111Ul ot Comnittee ot Wool Ora.era: Let t er ot appreciation t o Board t'rom. for c ourte97 shown CODaitt••• ana submitting propoaed. statement to preaa re pla t or meting wool situation 6/22 Collaterals Contapl&tecl action bJ Chioago in deolinin-g to aooept aa, tor F. ll. not••• ~r H oured. bJ Ga.t. obligations 11Dlesa .. oured a \ :la anet ratea, apprond 5/28 Deoblcm ot Board that JB8ar!k1 should not aooept oollateral note• t or recllaoount trom o ther PB.Banka. lml.eaa 1ecured by colla teral ot l°°" market v&lue 6/ 15 Colleotlon .&pno1M in Ble·...nth 7. :a. Ditltriot s Y.atabliahment ot certain, reao"'"9Dd.e4 by JRAgent Jlamse7 2/ 24 Columbia Bult ot •n tom a Perm1aa1on granted. to establish branoh at Weatcheater An. and Southern Blvd. , .Bronx, W. Y• • Comeroi&l •ation&l Bek. 'laahlngton, D. c. ~pl1oat1an ot • t or author1 t7 to euroiae trust powera 3/9 4ppl1oation ot, to aot aa trustee in deeda ot truat aeaurlDg pqmnt ot bond.a or prom.11aoey notea;appro-.cl 3/25 Co-aroi&l S&Tlnga Bank 6 Truat Co •• 'foledo, Cllios Permiaalon granted. to eatabliah bra.nab at oorner ot .uhla4 A••• and Baorott st., ! oleclo ' 3/ 25 eo-ittee appoint.cl at ocmtermoe ot GoYemora ~ril '1-10, 1920, to atQQ iuue Ir reclmptlcm ot P. ll. om"renc7a nport ~. 6/29 Oomli'te• ~Wool Grc.en, eto. lA'ter ot appreciation f'rom Ohairman ot, t or courte17 ahowll 'COlllU,tM b7 Board, and. mWtt1ng propoaed atate_., to prua re plsa tor meeting ,.ool altuaticm 6/ U. oa-itte• cm Jl~ SeowU~•• - . . . . . ot a elrioe trc:a Oomptroller of ~Ul117 n 3/29 Joarcl'a' posera in ••ti.Dg, Orsaai•tlcm alll. expaMa ot, S/2.t Jlwa--1 3/29 7Z llO 301 515 ' http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis . - . . Page Committee on Revision of Currency Designs: Mr. Hoxton designated to act an behalf of Board in 3/6 connection with, Committees, F. R. Board: Bulletin: 4/6 Moehlenpah, H. A„ appointed member of, 6/8 of, tempore pro member Platt, Edmund, appointed Clayton Act: Authorized to review situation in each District re interlocking directorates, and summon FRAgents to 4/12 Washington for consultation l Oongressiona for resolution draft Committee appointed to action making effective provision of Section 13 of Act 2/20 for no exchange charges against FRBanks Executive: Directed to submit report as to present method of audit1/27 ing' gold settlement and other funds of Board Hamlin, C. S., appointment as mmber ad interim of, 4/5 pending appointment of Vice-Gov. of Board Miller, Adolph C., appointment as regular member of, 4/5 for quarter ending June 30, 1920 Moehlenpah, H. A., appointment as member of, for 1/2, period Jan. 2 - April 1, 1920 Moehlenpah, H. A., expiration of term of office, 4/5 April 1st. Railway Loan Advisory: Appointment of Executive Assistant at $4,500 per 4/1 annum, approved 4/16 Delano, Frederic A., resignation 5/25 of, member McLean, Angus W., appointed 5/28 Acceptance of appointment 4/1 Securities" on Railroad "Committee Name changed from ,Oaarters, equipment, and suitable office force 4/1 authorized for, 4't5,000,000 of loan of approval for of, Recommendation 5/28 to Boston & Maine Railroad Ur. succeed to member of, appointed Scott, Fred, 4/16 Delano 5/25 Appointment declined; report re, re resolutions to draft appointed Committee Report of 2/17 retirement from Board of Hon. Carter Glass Membership: State Bank To be instructed to discontinue activities in re par point campaign, to prevent misconstruction of 2/24 attitude of Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 244 354 529 371 196 109 343 343 1 343 331 389 482 500 331 331-32 494 389 482 178 199 XXYI I / ·' Comptroller of the CUrrenoya Request trom, that .Boa.rd p rint report ot OODd1 tion ot national banka wa of Dec. 31, 1 919 , in coa::reeucm w1 th pub lication of reports of condlt 1011 o!· at::t>er b&Dks ot 1ame date 3/2. 7 Above not cljemed lawtul by Geuaral COlm.891 3/29 Bulletin Comni ttee authorised to print 1D 3ullet1D •\J:\.h par ta of abat.raot as ot interest to System 3/ 29 Comptr ol ler ot the 'l'reuu17s Advice trom, 1n re Board' 1 powers 111 meetl.ng 4Ql)miae• ~ Comni ttee on Railroad Securit 1• org anised madar Tran1port&tion Aot ~ 1920 3/2.9 Pre1ent at muting of F . R. Board 3/ 2.9 Reply tram, to GOT. Harding, re authorit7 oL PBBcx!rd to pur ohue rea l ea tate for otfio• 5/'J!J Condit i cm Report ot Guarant7 truat Co. ot Bew YorL CU17 s Inquiry tram Mr. ·.i1111a.m as to wbeths:r ~ bad been rece ivecl trom :Sn York 1n re, a.s o! Dao:. 31, 1919 2./3 Vioe-Gov. reported no repl7 2/4. ' Aa11a tan t Sean ta17 reported no repq 2./5 Report ot ~ndi tlou forwarded. b7 2!Ugent l q 2/6 Condl tion Reporta ot State )(ember Banlm, lleque1t b7 .Board'• Statiat lo ian that eall tor , be daterred. lmt il liq 2/2.A Candi t~on Statementaa lie m>. ot Mr. Bmeracm re l!BB&nk at Iew To~ llh.o71ng in, oontingent 11.abili t7 uaumed in aonneoti011 with purohue ot b Ula under contract wi th Bank or .Japan 3/2.6 Oral s tatement t ile d with i'flBank ot Y~ b7 certain bmking f1 rma 4o1Dg .ooeptanoe bl:lsim. . ; ~•pcmdm e e re, am •'1181•t1cm all st&temema be in penmwat tora2/ll 31.i 3H 31~ 3lS 31£ 46i 130 1'3 l ' 148 •ew i./19 CQ&dltiona 1n SeOODd 1. R. Diltr1ot s Dally report at, aubmlttecl ft/9 COD.termoe 1D ChiQ&8> ot thoae lnt. .ened in wool grodDg in4ut17, oallAd b7 oertain U. s. Saatara; b1'd r.quaated. to 1eD4 repream tatl wa 6/15 telecr• trom Board to l!ll&gema at Chi<:aEP, C1t7. and MSnneapolia :reP,atlng attenctsme 6flr, conterenoe in Wuh1ngtm m jprll 20th. to d1aaa. gmmral ~ paticm ot &OOeJ>tamea am rate ot diaooant tlm'ecai •/12. 1-. R. Agem Jq, Mr. Ic•l, '-4 ommtttee ot JamDra ·ot Bn Tork 01v ·m1te4 to •/J.2. P. ll. jgtnt O.tia~ ed. oertaln ba:DJtera ot Boetma lnTi ted. to 8*tc4, 4/12. ermo• ot-C l~ Bo~e Jlepna•'-Uwa at Cb'•F.l•· 2lr4. qpolDtmeDt of but one cl9legate tQ uteDll. l>7 Sa Jram1800 Olearlng Bo-. M80a1atlm; 11r. JimTbl / MthorUecl to bo• alW'lDc bouae1 1n two oti.r o.iU• ot Dlatriot _.. d•le•te• l/lll Ia•• "tall· · http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 164 192 365 5l 540 372 ~12 31? Page Conference of Clearing House Reps. at Chicago, Jan. 23rd. (con.) Compilation of information showing practice in various sub-centers in each district re interest rates on deposits; suggestiaa of Mr. Jay for forwarding 1/17 conference Draft of message presented by Gov. for presentation to; 1/21 approved for transmission Expense of representatives attending; inquiry from 1/17 FRAgant Austin whether FRBanks are to pay, 1/17 attend to instructed Hoxton, W. W., Rates an deposits; suggestion to be made certain clearing houses for no changes in, pending report 1/6 from conference Resolution recommending maximum rate on bank balances at 2il. passed by; notice re, And re statement of Thos. P. Beal, Jr., representing Boston Clearing House Asso.1/24 Stenographic report of proceedings of; inquiry from 1/20 ElAgent Heath as to whether Board desires, Conference of Clearing House Reps. at Washington, Jan. 6th. Gov, authorized to transmit request made by, through 1/6 FRBanks, to clearing houses in F. R. cities Resolutions adopted by, presented by Gov. Harding with 1/6 statement °onference of Federal Advisory Council and Class "A" directors With RBoard; memo. of Asst. Secretary re furnishing 5/19 FRBanks with report of proceedings COnference of Governors, F. R. Banks: 3/9 Tall for, in Washington, April 7th., authorized Comnents by Board on recommendations made at, April 7 10; letter from Gov. Harding to Govs. of Banks 6/4 containing, 4/5 Program for, beginning April 7th., approved 5/25 Report of, held April 7 - 10,submitted by Mr. Hoxton Report on topics discussed at, and recommendations made 4/21 by, April 7 - 10, submitted by Mr. Hoxton 7-a, Reports of Goys. in response to topic 1, sub-section of conference, re commodity hoarding, submitted by 4/21 Mr. Hoxton 7April held Suggested reply to recommendations made by, 6/1 10; memo. of Mr. Moehleapah submitting, 7th., Topics for discussion at conference an April 3/26 forwarded Governors COnference of Representatives of F. R. Banks: Board's views re holding of, to discuss personnel and welfare questions, requested by Organization Counsel 3/2 of MBank of New York Industry: Wheat Ccalference of Representatives of Invitation from U. S. Wheat Director for representation 5/5 by Board at, in Chicago, May 7th. 5/5 attend to authorized FRAgent at Chicago http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 65 76-77 67 65 19 97-98 69 17-18 17-18 465 254 522 337 482 398 399 509 309 227 434 434 Dflll .. , _, Connell, Jol:D Joseph. appoint.eel s tenographor in offi c e ot Comptroller ot car~ Consnlt~ Counsel 4/"lI> ~liott s l /3o Bea lgnation, e:tfeetin Peb . I.st . Convention ot Liwstoe.k i.:sn 1n Chi~ , June 19th. lnTi tatim t'roz:a k ticmal .LiTe a tock A.asociation to melli:>er . ot Board to addreb, deeli.Ded, but Board to aend 6/3 •tatemmt ot Yiea COoperatin Store ff ~079e• ot__? . R • .Bmk ot Kanae.a City: PrOteat t'rca Retail Grocers uaociatian ot Kansaa C1t1, 11.0. ,aga.inat open.ti ca;. of, 3/23 Corporat1cau Organisecl 'QDd.er Bdge Bills Partial t u e:u.r:pt c;m on aeeuri tie a i s sued by; memo . ot 'I . s. JU• w1 th ~ation.a tor, 1/29 Correapondilmae: Circul&UJJg c arre~d.ance al members ot Board 1A uecuth• t oldiu'; atte:ntlcm called t o neglect ot, 6/l b7 llr. II.ill.er Cottcm: Bark limi tM to le:n:l ing lllO?!e7 tor growillg and marketing, and othfr &gl"l.cultural product.; desire ot GoT. Doraq ot Ga. to c:aat~bllc personal let t er trom Gov. n, l/10 Cotton, J.P. To be requaate4 to tlDdartake preparation ot regu.laticma goyC'Ding operation.a cd c orporations t o be organised mader Edge A:::t 2./3 Colm8els BmplOJ'Mllt of addlticmal, to aaaiat 1n preparation ot regalatic111.a gpwruing ::orporationa under Bd88 AOt; 1/ 30 qQe•tim " • • Counael (.Additicma.l)s eottcm, J. P., to be requeate4 to prepare regulation• goT•rniDg operations ot oorporationa organised under Kdp AOt 2/ 3 COunael {Canal ting): Elliot~. LI. c., rea1gnat1on. e:tf'ectlTe Jlab. lat. 1/30 CO-am el {GeMral): . Inatruotecl b7 Board to p-epare bill maldng etfeotin plan tor diacOllllt rate laglalat1m aollt9q)late4 m Board'• •nnml lleport tor l9U 2/9 Inatrucacl to Mri• to proo9C111re 1Jl caloulattng pmal.U.ea on cla:ticieaaiea in r••n• 'J/11 ~tructeil to t'lr1llall ••ntcm ~t o wmther bl il9>•ing Board•• paalU• Gil de:t'loleDCiea 1D re•n•, um ahoul.4 be oaloala'-& 1lp01l ~. or ueirip baa1a · ~ ' · 8/J;l lutraate4 to lll:t'cma Board re •t.ho4 tar reoord!J:lg 1D wt•t•, peim...1- ~... 11_.,u allowlDg reaerna aptna' 61poalt UM111.U~ to t&U. below ah1t-.. a/12 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 516 293 118 510 l 159 Page Counsel (General): (continued) Instructed to prepare letter to FRBanks containing codification of Board's rulings re paper secured 3/9 by warehouse receipts Law Committee to instruct, to render opinion re certain phases of F. R. Act relating to suspension of 3/2 reserve requirements Memorandums of, re Attendance at meeting of Executive Committee of 3/9 American Acceptance Council, reporting Bill H. R. 11,918 (McFadden), for amending Act to permit State member banks to be designated by Secretary of Treasury as depositaries of public 1/23 monies, or as financial agents of the Govt. l politica of Board's resolution defining eligibility or public officers for office in a FRBank,submit2/9 ting suggested amendment to, ding recommen Citizens Savings Bank, Pasadena, Cal., same be instructed to omit "National" in 2/6 advertising connection with F. R. System of ns conditio J., City Trust Co. of Newark, N. 2/17 membership bank member of location Effect of change of name and in connection, with alteration of name of payee of 1/12 bill by Texas Bank & Trust Co.,Galveston, Texas with on connecti in Franchise tax paid by FRBanks, letter from Mr. Perrin suggesting method of 4/24 disposition by Government of, applybanks member against "Graduated excess charge" ing for rediscounts in excess of capital and 1/12 surplus opinion obtain to Counsel to back referred Matter of Consulting Counsel and report if any action 1/15 along similar lines ever taken by Board hestablis of in case FRBank a of e procedur Possible ment by it, with approval of Board, of preferential rate on member bank notes secured by certificates 1/22 of indebtedness of receipts by secured paper on rates tial Preferen 2/11 bonded warehouses Propriety of FRBank receiving for collection maturing items forwarded direct from member bank In another district for account of the FRBank of such district2/17 Railroad Transportation Act of 1920, duties of 3/9 F. R. Board. under provisions of, on redempti and purchase for provide to Senate Bill 3680, 2/2 tion denomina 4100 and $50 of bonds Loan of Liberty http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 250 224 250 92 157-58 151 177 40 405 38 56 87 164 175-76 252 130 ' DX _, \ r Counsel (Gemral) i USDC>randuma (oontinwd) ot, H ~?70. 1ntrodDoe4 by Senator OW., to aim,n d l'B.lot 1n re matter ot interest ra tea charged by member banka l/2:J '!u upon d9t1o1em iea in reaen-ea 3/29 , Teiaa Bank &.: Trust Co., Galnaton, !fem.a, applioation Senate Bill . ) ,,... J • tor memberahip; apprOTed aa reoolllDeDded 1/2.2. T•v.a Bank & !rust co., Galveatcm, Texaa; oonditiona ot memberahip impoeed upon, \. ·· 2/17 Oplnloni ot, re .t.ooeptmoea dra1ID apinat importations of sugar- trom Cuba, el1g1b111t7 of, 2/9 .1.ooeptu.oea dr&wn against whiakq in bonded warehouaea, ' daolaring not el181ble tor ndiaoolmt · 4/8 Wational banks in Baaii 1 au tbori t7 ot iRBoard to gr1111 t t 1duci&ry poser a to , lmder pr~ iaiona ot Seoticm 11 (k) 2/6 ProT1a1ona ot ~t imposing penaltlea an defic ienciea inHU~a ~ BecUacounta b7 IIRBanka tcr State member banks 4/5 Bestrioticm bJ m.Banka ot red.laoolmta o£ ~per ot one borrower tor difierent member b&DD 2/3 31gbt ot Board to ll'Pl'Oft pretermtial rate on paper aeourecl by reoeipta issued by bcmdecl warehouaea 2/17 Stat..-it --4.e , ~ interTi• w1 th General Counael o~ U.rioan telephone & telegraph Co. in re renewal oantraot w1 th JllBou"4 3/24 Counael'• Ottioea B:q>lo,.Dt ot additional ocnmael to aasiat in preparaticm ~ regal.atiom. governing operation• ot OOI'J)Orationa . Ol"811D1se4 under FAge .tot; queatian re, ref erred to COlllD1 ttee ta; report 1/30 Co1Z11tertelteraa .Arr•t ot I NP.Orted., t ar oounterteiting ten dollar I In Tork PBBmk notea 4./9 Ccnmtry tmk••' Aaaocl&tion ot Georgi&s Propo9ed rttlaed banldng_ lau t or State ot Georgia li, .. Rall• ted. . aubm1 t ted bJ J!Ugent JIOOord 6/'JO Onell ts CMold.ng ot ezpanaioil in Elgbtll DiatrJot; oorreapcmdenoe n, .W.llitted b7 Kr. Hanoa 0Ga4.1t1ou in Dall• D1atr1ota r.11J>on re, Ccm41Uona, and•• Jl. note a1t'Q&t10l1, la •lnth Diat.a • lett• boa JJUgem B1all ot JUnrr..,olla aumlttillg · ~·~. •/?.J. 5/1..., 1/7 -~·· .ataaq bona.rs; mSNM ln natiaaricle •~1 a19w8 io 1D1braatlca n .. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis be lnatruoted to 1.Jlterch&p ancllt ute.Ja494 to, . 3/9 Sl-· 311 86 l8C 157 36! 251 33? 134 179 299 365 581 399 429 Page Credit:(continued) Policy to be pursued in control of; Gov. to prepare 5/6 press statement of Board's views re, Credit ec Banking Conditions in Third District: 5/12 Report re, from F. R. Agent Austin Credit & Business Conditions in Ninth District: 5/10 Report re, from F. R. Agent Rich Credit Situation: attend Three directors from each MBank to be invited to on Board with l meeting of Federal Advisory Counci 4/17 May 18th. to discuss, Credit Situation in Eighth District: of Mr. Hoxton authorized to visit St. Louis for purpose 5/10 discussing, Cuban Sugar Planters: season" by Statement re plan for finftraing, during "dead by Asst. ed. ,prepar ances accept issuance of three month 6/al Board by le eligib Counsel; not considered Currency: to nonPropriety of a FRBank furnishing, without cost, from re, letter par; at member banks remitting 3/25 MAgent at Dallas note R. F. sing increa by ced Unusual demand for, eviden ing issues; telegram from Board to RAgents re,ask 2/18 cause : States United the in Currency & Credit Inflation orth of Estimate of present, requested by F. :1-;• Farnsw 3/27 York New of ation Corpor Bankers' Statistics 0121'rency Designs: ated to act Committee on revision of; Mr. Hoxton design 3/6 with, tion coopera in Board on behalf of Current Expense Accounts of F. R. Banks: notes in, Separate showing of figures re cost of F. R. 4/12 recommended by FRAgent at Boston Cu:ctiss, Frederic H., F. R. Agent, Boston: allegaPropriety of, serving on committee to investigate tions of C. R. Vernier against American Telephone & 1/2 Telegraph Co.; Board's views requested re, Dallas Morning News of June 11th. ded by Article on bank credit appearing in, forwar 6/15 FRAgent Ramsey s, FRBnnk Gov. authorized to transmit letter to all in views with accord s Board' expressing 6/15 article Daylight Saving Law: See New York Daylight Saving Law http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 438 448 442 391 442 581 304 183 311 244 371 3-4 540 540 UXII I . .• '? Delano, Prederio .A., resignation as member ot Railwa1 Loan 4./16 .AdYiao17 Coamitt" Deni aan &: Co. , Boa ton, See o. E. Deniaon & Co., Bos ton, Mass . Depoaitari•• ot Public Mollieas H. R. Bill 11,918 t o amend 1B.4ot t o permi. t -deaignatian ot State member banlm b7 6earet&17 of 'rreaaur7 aa, or u tin&Doial apnta ol' the GoTt . i !Dim:>. of Counsel l /2.3 re, Direoti• der J&"faaohe 'lmlks Maa•. Barm&rld.ng ot g old tor, bf JRBank ot new York 6/8 Dinotor•s B1rmSngh&m Brancha Kettig, w. B., designated Cba!rmaD ot .Board ot Direotora tor ;year 1920 l/1 7 Board'• oiroular f2l re eligibi li~ or oandidatlta u; to be amtnd.84 to bring within intention of Board u diaol.oMd by recent ruli.ng8 in epeoitio oaaea l /26 Board'• oiroular #21 re ellgibilltJ of oandidataa aa, report of Law OoDmittee auggeating no f'ar thG" public ancnmoement re. 2/13 Olem1nt, Borman P., gr~ted pemiaa1an to •ne u direotor of P1r•t J'ecSeral PareigD &mktng Aaaoo1at1cm 4./17 l:i l T.l DezlTH' Br&nah I - Burkh&rclt, o. 4., report re appointmmt aa director 1/9 Election ot direotora for .,eaz 1920; n oU oe re• l /U Poater, 4. o., report re appoinb:mnt aa direotar 1/9 Park.a, o. c., report re appointment u dlreotor 1/9 Detroit Brana.ha B7-lm • JMDded to praride ~or Board ot t1Te,1.natea4 ot ae.,.n, members • ·• 1/26 lDONU• in mmber tro11 the to anen, appl"Offd 117 Ill.Board through 1na4Tvtmoe, endeuor to be made to reatore at&tu.8 qGO of b7~1an in thia reapeot 1/12 •ame• ot two additional 41.notora auggeated b7 ftl.&8ant Beath t or oonaid.•&Ucm 1/12 Bl Puo Branoha ft• ot 11.00 tor attending executive oommittee nt.et1Dga, 41aapprGYe4 4./29 ft• ot t;2.60 tor attmcUng eaoutive ooDIDi itM illetlnp, llpp1"0Te4 • 5/19 Gllben, R. R•• notice ot re-eleotloD tor 1920 1/),.2 Kerr• A. 'I. 1 notiae of re-eleoUca tor 1920 1/.12 Sw..rt, u. s •• notS.Oe ot n-.leoUClll tor 192.o 1/12 -,. R. Bmk ot I••aa ClQa . 11emlng, '• We, DO obJeotiOD to aooepi.no. ot appointzzmlt on Board of ...Oatlon ot K•n•u Cl 'i7 • uo. 2/u r. R. Jank• ot ail..S.lphlaa . ~ ot dlnotara attwtng eaoutift' comlttee' maetbaga iDcreuect · to 1/6 tao.oo f http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis '2 '2 us '6i 40 4oO '° 20! 14 ,. Directors: (continued) F. R, Banks: Lotion by Mr. 2diller that Board furnish,with suitable 5/10 certificate of office Co.; Trust Cleveland and , Co. Trust Guardian 6avings & letter from PRAgent dill in re directors of,serving 2/l7 at same time as directors of national banks Helena Branch: 5/15 Appointees suggested by f. R. agent Rich 5/19 5/25 appointee Board's as designated L., Ford, Lee 5/25 director as selection re advice 0., R. Kaufman, 6/15 Kaufman, R. 0., election of; advice re, 5/25 Kelly, Charles J., advice re selection as director Kelly, Charles J., appointrent as Board's director 0/9 suggested; referred 6/15 Kelly, Charles J., election of; advice re, :arlow, 2. A., appointment as Board's director, 2/2 suggested; referred 5/25 Larlow, Thomas, designated as Board's appointee idarlau, Thomas, designated as Chairman of Board of 6A5 Directors 5/25 director Rouley, H. W., advice re selection as 6/15 Rowley, H. W., election of; advice re, Houston Branch: 1/12 Andrews, Frank, notice of re-election for 1920 1/12 Bryan, Guy II" notice of re-election for 1920 2/13 Chidsey, J. C., resignation unexpired for Farrar, :I. M., appointed director 2/24 portion of term of J. O. Chidsey committee executive attending Fee of ,5.00 for 4/29 meetings, recommended; disapproved committee executive attending Fee of ::?'2.50 for 5/19 meetings, approved 1/12 1920 for of re-election notice R., Lawder, 3am Jacksonville Branch: Cooper, John C., designated Chairman of Board of 1/17 Directors for 1920 Little Rock Branch: 1/12 Appointment of, for :iear 1920; notice re, Los Angeles Brunch: Waters, A. J., appointment in place of 3toddard Jess 1/12 Louisville Branch: 1/12 Appointment of, for year 1920; notice re, Lemphis Branch: 1/12 Appointment of, for year 1920; notice re, Nashville Branch: Hartford, 7. H., designated Chairman of Board of 1/17 Directors for 1920 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 443 161 461 467 479 479 539 479 128 539 128 479 539 479 539 40 40 173 200 419 467-68 40 63 38 37 38 38 63 .. .. ·.'"'I Direotora: (continued) Rational bank, serv ing as s uch in viol ati on of ~layt an A.nti.Jfruat A.at; l e tters to, s ubmi tt ed by ASst. to Counsel N9'7 Orleans Branch: Bu.ah, A. P ., d8'1swited Deputy Chairman of 3oard ot Directors tor 1920 ~ Oklahoma. City Bro.n:lh: Berry, J.'t.1., appointment-· approve d., Vi.::e-Gov . to ascerta in 11' a greeable to Mr . Berry A.ppointmen t declined by Ur. Berry Daniel , o. E • • appointt:lent as director ..md ~r Earhart, 1 . H., resi gnation as dire ctor and mmager Election of; quest i on re, to ~ br ought up at meet i ng Jan. 16th. Elect ion .,o t, ~ue s tion r e , tabled Ele ot i on of dire otor on behal.f o£ :Doard, dis~sed ; P ~ E . Uagee of Tulsa re.::omnended Uatter referred to cOllllllttee for rep>rt Uee , ·11111am, appointpent approved, 1£ agreaa.bl e to . him 4/6 1/ 1 7 1/ 16 1/17 6/8 6/8 1/2.() l ; a> I .a,ppoin tment a ocepted. by l.a'. IJ.ee; no ti~ re, 1/ 17 .appo 1n t~ t Q9ll1'1~ , 1/2.9 selection of,: advi.}e trom PR.&Bent BaJ:lllq re . s ugge st1ng oandidates tor appointltent by Boa.rd 1/6 Thurmond, E • .1.., appointe d Board's director 1/29 Olm.ha .Branoh: .lbbott, George E., no t i .)e ot appointment Drake, Luther, noti~e ot appointmant Earhart, L. H., appointment as Jlireotorl&nd n»nl'&ftr ... - o. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis , . ·. .• 70 74-75 59 67 120 11 119 1/9 1/9 26 26 6/8 527 T., notice o! appointment 1/9 noti ce o!, l /U Direotora, Claaa •A•: F. R. lkmk of D&llaa.: ' Pa~nt of per diem allowance to, at tending comerenee on l4q l~th., diao.pproved 4/2.1. !hree, from each g .· R • .Bank, to be invited' to atteDd oonterenoe of Advisory Counoil with .soar~ 18th., . to dia-auaa genar~ credit aituaticm 4/17 Direoto~a, Olaaa •B•a i . R . Bank. of Atlan\aa · ,•,, · '.... ,Sl.man, Leon c. , eleatian aa Olaas •B" dir~tor '!'&Jo ~ , term ending Deo. Jlat., :.1920; notice ot • - -~ 1/2 . . P._ ·B. Bank, ot Bew York: . · • El1g1b111tj ot ot.ticer ot lite 1.nsuranile ooapiv u alua "B" d1reotor 1/17 Butman, Election of , tor year 1920; s.:& 5::.7 1/15 1/ 2 l /U ../ 59 67 26 105 391 5 6 Page Directors, Class "B": (continued) F. R. Bank of Richmond: Oyster, Janes F., tligibility as Class "B" director while member of D. C. Rent Commission; memo. of 1/22 Counsel re, of draft prepare to ee Referred to Law Qommitt regulation in accordance with suggestion of 1/24 Mr. Hmnlin within not on Commissi Voted member D. C. Rent intention of Board's circular #21, series 1/26 of 1915 Directors, Class "C": F. R. Bank of Chicago:' Ball, Frank C. Appointment approved, to succeed E. T. Meredith, for term expiring Dec. 31st., 1922, & Gov. 2/25 to ascertain if he will accept Appointment declined, awing to inability to dis4/8 pose of bank stock r; Disposal of bank stock upon becoming directo 3/3 inquiry re, ed forward wualified as director and oath of office 5/10 Board for Committee appointed to submit recommendation 2/2 successor to E. T. Meredith with ed, Meredith, E. T., resignation submitt 2/13 suggestions re successor F. R. Bank of St. Louis: Boehne, John W., desirability of resignation, in 4/1 view of proposed Congressional campaign Discount Corporation of New York: Circular of, offering for investment of banks, prime bankers' acceptances; copy submitted by President 2/3 of Baltimore Trust Co. Discount Rate Legislation: Bill making effective, plan contemplated in Board's Annual Report for 1919, to be prepared by Counsel 2/9 for submission to Congress Discount Rate Situation: Discussion of, postponed until Feb. 9th. that Secretary 2/6 Houston might be present at meeting Discount Rates: Amendment to Act making effective graduated discount rate; 5/11 plan for, recommended by FRAgent Ramsey from letter to; Criticism of situation with respect 1/16 J. B. Strodk to Secretary of Treasury changes no where on, Discontinuance of weekly reports re, 3/4 are contemplated; letter to Chairman of FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 88 99 106 207 362 233 442 128 173 328 133 159 148 445 61-62 235 I .. Dj,,aoomt Bateaa (oantlnned) · ~ D1aparit7 between, preTa1lJ.Dg t SolltherD and Northern F. B. Baukaa article 1D . . . Yo~ World c r1tiois1ng , Gov . authorised to z::::aD mi table ret1ponaa to oritioiam · P . B . .BllDlt ot A.tla\ai 2/2 l::t 4/13 374 fi/14 Matter oonsld~a no aoticm .· 5/26 Gra4uatecl r ate plan a~ecl tor, Uini.DauD open marlmt r a te tor...pzrohue ot bankers a.ooeptanoea, not to be publiahed,app rond at ~ 1/23 Bate ot .f..1' approftd t or all e.rt1t1catea ot indebted. neaa and trade aQC9J>taDc" • 1/2 Bate ot "!' appl"O'Yecl on 1- 90 dq notea, inoluding 381 495 ID9bar bank collataal notes H"Curecl b7 - • . B . Bank ot Boa ton.1 A.boll Uon ot cU•0o1in.t rate cm 'baken• aoceptanoea B&Dltera ' aaeeptaaea; · dealre ~ Bak 1n aboliahing dilO~t r at. cm. to bndl• at cc aro1al paper ' rate ,pnaert'l.ng opm mr~ rate ~ ~' aotion re , Obangea in, reoo '94 b7 ••pnt CllrtS.a; nt. to Tiae-GOT. to atate p>a1Um d ~ Go•. Bar41Dg at:borbed can.nlt Bak re, Opinion ot Board 1"9quMte4 n ....u.bll1t7 ot maidng '° ) f http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 95 95 ., 206 95 464 95 96 "/ 6/3 521 6/4. 1/16 3/ll recliaao1111t rate ot Jluilt fl/, m all ej.aaaea ~ paper, 1-90 cla1a 2/ 9 Rate ot '-!C &JP'O'f94 cm all lMM MOlD'W b7· certlfloat• ot ~•'Me& u or ~ lane or naturi t7 1/2 Bate ot ... appl"Oftcl on p.ip.r eecaecl 117 ~ oert1ticaaa of 1/ 21 hldlt...._• 96 u. s. oertificatea ot ·tnM!atem.aa 1/23 Bate ot 5% approve d an b:mkera' ~::ep~:ea diaoounted t or member banka 1/23 Bate ot ~ approyecl en ~ .aurecl b;y u•. s. oert1t1oatea ot indebtedmaa, 1-90 la.;, mat.ar1t7 2/25 Bate ot 6¥ apprcmt..i Ollll-90 ~ notea, 1.nolmtng member bank ool lateral not.ea . .~ b7 l.1bert7 bonda & vioto17_not• I 1/23 Bate ot &$ &pprOftd. Oil pmper, all. 11aturitln, aeourecl bl ~ oertitlcatea ot lDle~u ~/19 Bate ot ~ apprcrre4 on l-90 dq cc• •rolal paper 1/ 23 Bate ot 'i$ apprond OD not.a •3'm"ed b7 War Plnano• OorporatiOD baa4a 1/23 Jlatea 1n apeoial U>auacUaaa CJD paper aeoured b7 iJ. s . bcmda iuued prior to April , 1917; letter re , . . 6/1 Bat• cm psp• a.c11ncl - u. s. :ert1t1catea ot l.mebtecmeaaa letter re, 6/22 ., - " la ' Obap a 1n ra tea, reoo-4e4 ~ 2/2 v y 61 26' Page 95 95 go, Discount Rates: (continued) F. R. Bank of Boston: (continued) Rate of 5/0 approved on paper secured by U. S. 2/25 certificates of indebtedness, 1-90 day maturity Liberty by Rate of 5i% approved on paper secured 1/21 bonds and Victory notes 3/11 s Rate of 512-;; disapproved on bankers'acceptance Rate of 65; approved an conuercial paper of all 1/21 maturities ral agricultu by Rate of 64 approved an loans secured 1/21 paper, 91 days to six months maturity Finance War by secured Rate of 7f4 approve/ on paper 1/21 Corporation obligations d discounte es, acceptanc bankers' Rate of rediscount on for member banks, established at 5%, with minimum 1/21 open market buying rate of5;15; /13 2 action no in; changes re Recommendation 3/9 tabled in, changes re ation Recommend 6/3 Schedule of, submitted and approved 2/17 re, Hoxton of Mr. memo. in; increase Suggested F. R. Bank of Chicago: 1/23 Rate of 4i; approved on 1-90 day notes Rate of 4:1; approved on rediscounts, 1-90 days, 1/10 secured by U. S. certificates of indebtedness 1/10 Rate of 4-2 approved an trade acceptances 1/23 Rate of Wel approved on 1-90 day notes Mate of 5e approved an paper secured by 5t; certificates 5/15 of indebtedness Rate of 52; requested an paper secured by U. S. Liberty 4/24 bonds & Victory notes on paper all approved , Rate of 52f), or GS in necessary 4/30 secured by Liberty bonds & Victory notes 5/1 Bank from advice 'late fixed at efA, upon ral all paper, agricultu Rate of kr, approved an 1/23 maturities and paper l day 1-90 commercia an Rate of ef,„ approved 1/23 trade acceptances notes l member collatera bank an Mate of q; approved secured by Liberty bonds & Victory notes not owned 4/28 by borrowing banks Finance by War notes secured on Rate of "go approved 1/23 Corporation bonds 5/28 approved and submitted rates, Schedule of new F. R. Bank of Cleveland: Attitude of executive committee re further advances 5/25 in, 3/11 ed disapprov by, Certain rates submitted http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 206 82 264 82 82 82 81 173 250-51 519-20 177 94 34 34 94 460-61 404 422 426 94 94 418 94 500 479 264 • \ . DDlll Dlacoant B&teet (oontinued) ot Cl eyeland: Change• in rate• ~aoDl"ll8Ddecl Matter tabl eel ~ J&att ar t aken up tor oans1derat1an; no ao ticm •ot neoeaaar1 to 1noreaae r ates a t, at present Ur:m' letter •t&ting, Bate ot 5¥ apprarecl on paper aeourecl by 6¥ . ..certittoatea ot indabtecm••• Rate of ~ approTed. on paper •e(JO.ntd b7 L1bert7 bao.da and V1oto17 not e• B.eoc•1111u:adat ion n ab&Dge in, tabled Jlequeat b'om, that no ohange be made at present in rat•• on paper aeaured bJ GoTt. obligation• Saltiedul• ot rates apprcmtd tor, •1milar t o that apprOftd tor ftlBaDk ot Wn Yol'k Scbacml• or rate• •W:ai t ted and appro'f'8cl tJnitara rat• ot ~ apFOftd on all paper aeoured ~ u. s. oerUtioatea ot iDdebtedlleaa ,,.• B. Bank ot Dallu,. Plan t ar me)rtng etteotiw graduated 4.iaoount rate m-v'wnt to IB.AOt, reao. .Dded b7 JJUgeDt Jlamllq Pol107 ot, not to •wl7 prosr••i•e· rates to dratta baTing attaobecl bill• ot lading -oowrlng grain aotual.11 •old and in prooe•• ot ahipnmt ~•t1an at ratea to be oana1derecl b7 Bxeouti'fe Comal ttee ot Bank at maeting Ja. 29th. Rate ot "I' approrecl CD J.-90 da7 not•, 1nolud.1ng mJlber baDlt oollat•al. notes aeoured b7 oert1t1oatea at 1nda btedDaaa JI.ate ot 8$ 11pproncl an rediaooUDta ot b&Dkera' P. a . ~ . 900ept&Dae• http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/8 • 526 5/14 • 457 5/11 3/9 . 2 445 5/10 442 1/29 1/9 ~ 5/11 6/8 1/23 l 6 29 539 6/ 15 J, • 5Z5 90 l/30 1/3() i!ppl'OTecl on 1-90 ~ note•, inolud!Jw mmber bank ooll&tcal notes •eoured. bJ' L1bert7 band.a or Vlo tor'J' no tea ,, 1/30 Jt&t• of 4' &Jll>l"OTecl cm agr1oult11r&l. paper, 91 c1q8 to aix month.a matw1 t7 1/ 30 Bate ot 8$ apprcrred. CD 1-90 4q agr1oult11ral p.pc, 1nollll.lq maber bank note• ao HGQ.N4 l/3'J Bate ot llJ lppl'O'f ed CD 1-90 ~ 00-.~ial paper t lnollll~ mab• l»mk oollateral note• ·ao MamM l/'60 Jlat. ~ 1$ &ppl"O'fe4 CD l-90 4q b"ad.e cceptaaea l/:SO Bate al ~ ca paper ••c11Nd. 117 lt1bertj' bcm4a and Tiotar7 aotua letter trim BaDk 5/1 Bat• ~ • llPJll'OT•cl Cll notea M<J11ncl )J War ftnam• 00ipl"&t1all bCDla 1/3() . Ba~• ca paper MO'CD'ecl 1'f u. a. fl'eUUJ7 oert 1tioatea 9PJ>i'oftd u aua • rate. bona. b7 woh oertUioatea, With w l p t - ot 9$ . • 6/9 Rate ot ' 5¥ 4/1 2 4/ 13 4/ 14 . l i.4 l?.3 Page 50 90 Discount Rates: (continued) P. R. Bank of Kansas City: 4/27 Modification of graduated rate plan in effect at, in ascerta Mr. Hoxton authorized to visit Bank to results of adoption and application of graduated 5/10 rate plan rates of Permission granted, to adopt sane schedule 1/23 as approved for FRBank of New York 17th., April Plan of graduated rates to be effective 4/17 submitted and approved cates certifi by 7 approved for paper secured Rate of 4Z0 1/2 of indebtedness of all issues and maturities S. U. by secured Rate of 9,;; approved on paper 2/25 certificates of indebtedness, 1-90 day maturity ng includi paper, day Rate of 511; approved on all 1-90 1/2 acceptances y maturit paper, tural Rate of er;; approved for agricul 1/2 91 days to six months to ed submitt be to rates ed Suggested plan of graduat directors of, April 16th.; views of Board request4/15 ed re, 4/15 Reply of Board F. R. Bank of Minneapolis: 5/29 Advances in, approved months; 6 to day 1 Agricultural or livestock paper, 1/26 rate approved at :0:4 banks; member for unted Bankers' acceptances redisco 1/26 rate approved at 52" 1/26 67; d at approve rate days; Commercial paper, 1 to 90 to 1 e, of exchang bills and Customers' notes, drafts 90 days: Secured by Ti. S. Treasurer's certificates of indebtedness; rate approved at 4V0 Secured by Liberty bonds or Victory notes; rate approval at 5N Secured by War Finance Corporation bonds; rate 1/26 approved at W4 Margin required an all notes discounted, secured by Liberty bonds and Victory notes bearing date after June 6th., & Bank not lending in excess of 8o5 6/1 of par value; advice re, Member bank collateral notes: dSecured by U. S. Treasury certificates of indebte ness; rate approved at Secured by Liberty bonds and Victory notes; rate approved at 51% Secured by eligible notes; rate approved at qr.' Secured by War Finance Corporation bonds; rate 1/26 approved at 7; http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 413 443 90 394-96 3 206 3 3 383 384-85 505 105 105 105 105 511 105_ ' D1800unt Batea s (oontinued! P. B . Bank ot w..nneapolia a (oo~ inued) Rat e of ~. or ~ U neoe1aar7, approved on all paper aeoured bJ' L1bert7 bond.a and Viotol"J notea 4/YJ • Rate f1Dd at ~. upon a4T1ce trom Bank 5/ 1 Rate ot Sf. tixed on notea, all matur1t1ea, aeoured 6/ 1 bJ L1bert1 bond.a and Victory note• ~a.de aoceptaoea, l to 90 d.&1a; rate approved at l/U 5-¥ P. B. Bank ot In York: Applioation by, of graq.uated r ate plan adopted b7 . Kanau Cit7; letter re, 5/10 Certain rates approved for, but matter later reocmaidered at meting 1/2.l Certai.D ratea sUbmi tted. by Bank diaousaed by Boa.rd and Aaaiatant Seoretary Leffingwell 1/21 Go~. Rarding authorised to oansult with, re ratea 3/ll Graduated. diaocnmt r ate plan adopted by Xanaaa City; let ter re applioation by Jlew York of, 5/10 Increase in oertain ratea approved 5/27 llmo. of Kr. l.loehleinpah opposing inoreaae in ratea 5/2.7 Protest trom Comptroller of Currenc1 against increase in rate• bJ, · 5/27 Rate ot ~ approved on paper aecured b7 TreaaUJ7 oertUicatea of ind.ebtedmaa 1/21. Rat e of 8% requested on paper maturing 1-90 dqa, aeoured by u. s. oert1t1catea of indebtedneaa; no action a/19 Rate of Si' approved on paper aeoured b7 Liberty bond.a and Viotory note• 1/2.l Rate of tlf. approved on oommroial paper ot all atur1t1ea l/Zl 1la te of 8f, approved on loma aeoured bJ agrioul tural paper, 91 daya to six montha naturit7 1/2.l Bate ot ~ approved on paper ·~owed b7 'far J'1nanoa Oorporat1cm. obl1gat1ana 1/2.l ll&te ot "" requeat4Ml on maDlber bull oollat•al note• aeoure4 b;J l-90 dq eligible, and recliaoounted, oo..roial pape; talale4 5/20 Jlate ot re41aooant cm. bankera• aooeptancea,cUaoODted tor mallber b&ka 9 eatal>l1ahe4 at 19$, with m1nima open JZUlket buflng rate ot 1/2.l. Jleaoawnatlca n adopt1Clll ot rate ca oertaill P.P•a no aat1ca · 2/26 B900...,.,.tlm n a.bulge ia, tabl-4 a/9 J.eooWM!!decl lnonaae 1n rat•• on bankera• aooeptamea •&me ' • ** U. s. oel"t1f1oatea 1d1aappronU/ll 8vama "• S/ll B:nrao\ troa Jllmltea ot Boanl ot Dlreotora ot -~ paper ••011N4 Statemn• b7 *• 'b7 Ble»kot . . . http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • Yo~ - . / :S/11 82 81 Discount Rates: (continued) F. R. Bank of New York: (continued) Report by Secretary Houston re conference with officers 5/27 and directors of, re increases in rates F. R. &oak of Philadelphia: Certain rates approved for, but matter later re1/21 considered at same meeting paper on by, proposed rate of ion explanat Further 6/22 secured by U. S. certificates of indebtedness 60( Treasury by secured paper on approved 4'S Rate of 1/21 certificates of indebtedness • U. by secured paper on approved U;; of Rate ' 64, 2/25 certificates of indebtedness, 1-90 days -J Rate of 5i; approved on paper, all maturities, 5/20 secured by 51-x; certificates of indebtedness I bonds Rate of 5-1% approved on paper secured by Liberty 0 1/21 and Victory notes 20• all Rate of 6% approved on commercial paper, 1/21 maturities ural agricult by Rate of 0 approved an loans secured 1/21 paper, 91 days to six months maturity Finance War by Bate of 7;,; approved on paper secured 1/21 Corporation obligations • ed discount ces, Rate of rediscount on bankers/ acceptan for member banks, established at 5%, with ndnimum 1/21 open market buying rate of 5.4ii: e executiv of Rates to be acted upon at next meeting 1/17 committee of Bank, submitted approve to not decision Reconsideration by Board of rate in excess of 5-.; on paper secured by U. S. al 6/29 certificates of indebtedness, requested by Bank ng requesti for , Chairman from Statement of reasons 0 Board reconsider action prescribing 5r, as maximum rate an paper secured by certificates of Oi 6/30 indebtedness : F. R. Bank of Richmond 1 6/15 Certain rates requested by secured all an paper approved 1; , 1 5 of Flat rate 6/15 U. S. certificates of indebtedness 41 Progressive rate plan at; opinion of Counsel re 5/12 application of, Rate of 5% approved on 1-90 day paper secured by 2/25 U. S. certificates of indebtedness notes Rate of 511; approved on member bank collateral or customers/ rediscounted notes secured by 51f; 5/27 certificates of indebtedness Same schedule of rates approved for, as for Now York 1/23 on Jan. 22nd. 5/28 Schedule of new rates,submitted and approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis XLI Page 487 80-81 551 81 206 475 82 82 62 82 81 66-67 575-76 583 544 541 448 206 490 91 499 / XLll I. . Di Slount Rate•: (continued) P. R . Bank of Richmonda (oontinuecl) \i . \/. Hox~cm to visit Banlt and r eport on d.laooimt 6/15 aituat ion F . R. Bank ot St. Loula s 5/l.5 Eat&bl1'8hment of progr••i•e r ate• at. autbori.ecl Mlnhmm open market r ate for parehase ot bankers' aooeptanoea, not to be publlaled, approT•4 at ~ l /2.3 Rate ot • • appro"l'8d on 1-90 day notes, in~lud.1.ng member o8Dk collateral notes ae~ured 'bJ' o. s. oertlticatea of 1ndebtedneaa 1/:.3 Rate -ot 8$ approved on bankers' accep~• dia~oanted tor member bank.8 · 1/23 Rate ot 6i( appn>Ted on member bank collatEll"al no tea and rediaoounta of all im.turitiea aecured bJ" oertitioatee ot indebtedn•• bearing rate ~ SSt, or higher 6/~ Rate of ~ approved on paper, all matarlUea, secured b7 ~ oertitioatea ot 1.Dlebtedneaa 5/1.9 Rate ot ~ approve on l-90 cla7 notaa, 1.n~ndin g member bank ooliat Ell" al no tee ,ae<Mred. b7 Libert7 l /"-3 band.a & Viot o17 note• Rate of~ approved an rediaCloanted bmkera• aooeptanoea, all maturit lea 5/14. Rate ot ef, approved OD agriaultllr'al paper, all maturitiea 1/23 Rate or ~ approved on l-90 ~ "'.QD!Mrcial paper, 1nclud1Dg member bank oollater3l not.ea so aeclD"ed l/2.3 Rate ot t1f. approved on trade acceptaa:ea, all naturltl• 1/21 Ra te of 1f. approyed an note• aeolD"ed b7 iia:r P1J!8MA Corporation bond• l/Zj B. B. Bank ot San .Pranol aoo s Certain rates requested b7 Bank., 41npprG'ff4 1/29 Change• in, to be oonaldved 'b7 Board ~ Directors ~ Bank Oil Jan. 26th. ; adTioe re, 1/23 Dieoolmt a1tuat1cm in TW•lt'th Diat.; let\ar trcm iii.A.gent Perrin anal7Slzlc, 6/9 Dl~mtecl billa, 1-90 ~ •turit7, 1.nalvcUnc IZllllbar ~ oollateral notea aeowed b7 lf:reaa11r7 -oerta.; rate approTecl at . . SeotlN4 b7 J.1'be~ b<Dl.a 6 Yloto17 »tea; ra~ llppl'OTecl at Senn4 otbtl'WiH, m4 1111M011N4; rate approvw4 at - . . Poll07 u1 let\c t'raa D&p1at oomwztbg ~ Jtata ~ 't' &Bl"Oftcl OD au olaa..a ~ 1-90 c1q paper I http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis '· . .· 95 " 106 \. 115 90 1/29 2/ll 1/T " %1 Page Discount Rates: (continued) F. R. Bank of an Francisco: (continued) Rate of p;,;" approved on bankers' acceptances discounted 1/29 for member banks notes Rate of 5% approved on member bank collateral secured by Treasury certificates of indebtedness, 3/9 all maturities notes, Rate of 5Y2 approved for member bank collateral 4/27 and rediscounts secured by Treasury certificates Rate of 5,14; approved on paper secured by U. S. 6/2 certificates of indebtedness paper all an Rate of 5,1%, or 5% if necessary, approved 4/30 secured by Liberty bonds & Victory notes 5/1 Bank from advice Rate fixed at 5, upon , Rate of 5:2i; requested for member bank collateral notes and rediscounts secured by Liberty bonds and 4/27 Victory notes; no action livestock and al agricultur Rate of ef; approved on 1/29 paper maturing 91 to 180 days notes collateral bank member Rate of &I; approved an secured by Liberty bonds and Victory notes not 4/28 owned by borrowing banks bonds Liberty by secured paper on Rate of 5% approved 6/2 and Victory notes maturing s acceptance trade on Rate of 0 approved 1/29 within 90 days Finance War by secured notes on Rate of 7/3 approved 1/29 Corporation bonds F. R. Banks: Rate of 0 approved an member bank collateral notes secured by Liberty bonds & Victory notes not owned 4/28 by borrowing banks Form of announcement by Board re rates established Jan. 1/22 21st.; preparation of, referred to Gov. & Vice-Gov. Fractional raises in rates an paper secured by Liberty bonds and. Victory notes; Board desires RBanks furnish specific information re advantages before 4/27 approving Congress General Counsel instructed to prepare bill for making effective plan for discount rate legislation 2/9 contemplated in Board's Annual Report for 1919 Letter from J. Cloyd Byars criticizing action of Board 1/26 in increasing, of B4nk Letter from President Caldwell of First National Nashville,re rates of ERBanks and re general discount 4/5 program of F. R. System 5/29 Letter to Governors of F. R. Banks re, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 116 254 413 515 422 426 413 116 418 515 116 116 418 85 413 159 104 337 505 ··' D19l0unt Ratees (continued.) Botioe trcm ia. Uiller ot intention to JDOTe• at ne.i:t meeting ot. ~4- tor t1.x1ng ot ef, rate on p a.per secured b7 Treaaur"7 oertlfioates -at all PR.Bank.a 2/ 2 On paper aeolD'ed. b7 oertitiaatea ot 1.ndebtedneea; di a·ouaaicm re. J.Dd ata\ell:alt b7 Kr. Killer . 6/9 Poaaible prooedu:r. ot JR.Bank 1n ~· ot eatabliahm.ant, w1 th Board' a a~, o:t preferential rate on member · bank notea secured b7 cert 1t1oatea ot indeb tedneaa; memo. of Counael "• l/22 Preferential rate cm paper aecured b7 reaeipta tor goods atorecl 1n speoial warehouses; letter from Direotor ot Georgia State Bureau ot Marketa re. 1/2 Preferential ratea en paper secure b1 reoeipta ot bcmd.ed -.rehouaea; nano. o:t General Com:i.ael re, 2/ll PrOteat from Prea14ent o~ Kansaa C1t7 Live.ateck Exabaagoe to Seeret&r7 Glaaa against ln.creaae ~ • claiming dlsariminaticm against lluatoolt and cattle interetJta; telegram trom COT. W.Uer re, l/6 »attar reterrecl to GOv. tor consultation w1 th Counael 1/10· Rate of 5$ to be cont1Jmed an paper aeoured b7 u. s. oertU'icatea ot ind.ebte4maa beariDg interest rate loser than 5$1 notice to F. R. Bank.a · 4/17 Rate or ~ appl"O'Nd an paper secured b7 ~ u. ~. oertitioatea ot 1ndebtedneaa • tor all PBBs-nka 4/17 Reoomnended obaDgea in• to be tranud tted in oode 2/11 Redlaoount rate ot ~ tor bankers• acc.ptanoea; telegram to PBBanb modU)ing one aant Jan.. 24th. 1/26 Report re. at IBBank•; no oba:ngea 2/11 !eleirlia h'om Board to GoTa. ot all PBJS.mka re. 4/15 D1atr1ot ClearlJJg Plan in Elnenth Diatricts Etteot1Te date of aboliticm of; letter from Hl.Agent Ramae1 •1th turther n:tereme to. l/2A Protest agatnat diacontbmame or• t'rom banka at Port worth, ~au; meo. ot ur. Boxton"• 1/29 Date ot abo11UGD of plan poatpcmecl until llaroh l. 1/29 Dividendas 1 . R . Bank ot Atlat&s D1Y1dend _approftd at Jan. l - Jane ~ . P. R. Bank -of Bos '8s DiT1clend apprancl at Jan. l - .lime 30. '8 • B • B&Dlt -~ Cb1C&91> I rate ot 8$ per mmm tor period 19.20 6/2.;S rate GI II/, per anrmm tor period 19.20 . 6/22 Dindad approTe4 at rate ot. 8$ per annm f'Qr per 1od J an. l - .l'ane 30• 1920 6/ 22 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 117 117 Page Dividends: (continued) .R. Bank of Cleveland: Dividend approved at rate of 6% per annum for period 6/15 Jan. 1 - June 30 F. R. Bank of DAlas: Dividend approved at rate Of 6% per annum for period 6/22 Jan. 1 - June 30 F. R. Bank of Kansas City: per annum for period Dividend approved at rate Of 6/29 Jan. 1 - June 30 L,. R. Bank of Einneapolis: Dividend approved at rata Of ct; per annum for period 6/23 Jun. 1 - June 30 F. 11. Bani, of New York: Dividend approved at rate of eci,; per annum for period 6/24 Jan. 1 - June 30 2. R. Bank of Philadelphia: Dividend approved at rate of 6:;.; per annum for period 6/22 Jan. 1 - June 30 F.R. 3ank of Richmond: Dividend approved at rate of e,-('L per annum for period 6/22 Jan. 1 - June 30 F.R. Bank of Jt. Louis: Dividend approved at rate of ec; per annum for period 6/22 Jan. 1 - June 30 co: F. B. Bank of San 2rancis per annum for period Dividend approved at rate of 6/24 Jan. 1 - June 30 Division of analysis & Research: In,uiry from Director re procedure in preparation of 2/5 abstract of annual reports of 2. B. Banks for :A_ space addition of g securin re Letter from Director P. R. .gent's Dept. at Philadelphia, for preparation 1/20 of reports on business conditions of reports annual of drafts upon passing I.:ethod of 2/11 ERBanks; letter from Director re, Progress report submitted by Director, re investigation into salaries paid by FRB-Inks to eraoloyees receiving 1/6 5,000 per annum, or less ,uarters: Lease for space at 37 Liberty Street, New York City, 5/15 ap, roved Lease of additional apace at 37 Liberty Street, N.Y. 1/9 City, authorized, at cost of .A,200 per annum Division of Foreign Exchange: 2xppointment of a director who could devote entire time to 2/20 work of, suggested by Lir. Strauss http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 546 552 575 563 570 552 552 552 571 144 70 163 15 462 26 197 XLVI Division of Foreign Exahange: (continued) Lifting of prohibition notices of, re Guaranty Trust Co., application of, to transfer to 3an,jue Suisse, Zurich, sum of(‘44,000 under instructions from 0. 0. Ovaharov, Petrograd 1/9 National City Bank of New York, application of, to credit Dr. Rosenthal with .A1,000 account of J. V. Shakeshaft, Petrograd 1/9 National City Bank of New York, application of, to transfer to De Danske Landmandsbaric, Copenhagen, sum of ..8,000 for account of Radau & Co., Petrograd 1/9 Division of Operations & Examination: ,uarters: Lease of additional room in Metropolitan Bank Building 2/4 Division of Reports & Statistics: _uarters: Gov. authorized to secure space in National Metropolitan Bank Building to house, 4/24 Dollar Exchange: Digest of report of E. R. Kenzel in re Board continuing to grant permission to member banks to accept,for purpose of creating dollar exchange in certain foreign countries 5/29 Liberty National Bank granted permission to accept for purpose of creating, in Brazil and certain other foreign countries 5/29 Domestic Coke Corporation: Authority granted RBank of Cleveland to act as agent for War Department in holding in escrow contract made by latter with, 1/13 Doremus (Representative): Letter from, re application of James T. McMillan to serve as director of three Detroit banks 1/20 Dorsey, (Governor of Georgia): Desire of, to make public letter from Gov. Hardin g re establishment of bank for lending money for growing & marketing cotton and other agricultural products 1/10 Dowling, M. J., of American Bankers' Association: Suggestion of, that Board submit to friendly suit of national bank against FRBank to clarify portions of F. R. Aot 1/23 Dunkleman, Arthur C., Asst. Chief of Money Div. of MBank of New York; letter to Chief of U. S. Secret Service re raising of notes by, 6/24 Dunklin County Bank of Malden, Mo. Eligibility for membership; letter re use of 1910 census for estimating population of Malden in determining, 1/14 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 26 141 501 501 48 91 6f1 XLVII Page Earnings of F. R. Banks: Suggested amendment to FRAct re distribution of; letter 4/24 Of Gov. Harding to FRAgent McCord re, d member furnishe ordered letter Copies of above 4/29 banks in Sixth District York New City: East River National Bank, Application for permission to accept up to 100;;, held 1/24 pending recommendation of committee Edge, W. E. (Senator): Use of name in title of corporations organized under 1/12 Edge Act; letter from Senator Edge re, Edge Act: Regulations governing operations of corporations organized under; J. P. Cotton to be requested to undertake 2/3 preparation of, Regulations governing organization and operation of corporations under; draft of, submitted and ordered 3/24 printed Securities issued by corporations organized under; suggestion from W. S. Kies for making partially tax 1/29 exempt Elliott, M. C. 6/15 Designated member of Railway Loan Advisory Committee 6/23 Acceptance of appointnent /30 1 Resignation as Consulting Counsel Emerson, Robert G., Asst. Secretary, F. R. Board; Memorandums of, re Gold settlement plan, whereby settlement between F. R. Banks will be of same, rather than on follow2/2 ing,day; Gov. authorized to make affective into Suggesting further action on part of FRBauks 2/17 crease number of banks remitting at par on charges Suggesting method of payment of shipping 2/17 standard silver dollars e: &ripire petroleum Co. Acceptance Syndicat Offering of, by advertisement, stating their plan re 1/10 acceptances has approval of Board ide nation-w in Etterprises, steady borrowers, engaged business; Gov, to instruct FRBanks to interchange with 3/9 one another information re credit extended to, Examinations: Bank of Italy, San Francisco: Appointment of J. 11. Denny as Acting Examiner at 2/3 San Francisco to assist in examination of, s examiner bank national that Request from Gov. Calkins examine national banks controlled by,when affairs 1/22 of bank are next examined be would request that ler Statement by Comptrol 1/22 granted http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 407 420 100 38 136-37 299-300 118 545 565 124 131 176 176 33 253-54 136 85 85 XLVIII Examinations: (continued) Cost of member bank; memo. of Mr. Paddock re request from RAgent Perrin far information re policy of FRBanks in absorption of, 2/3 F. R. Bank of Boston: Report of examination as of Nov. 29, 1919, together with memo. of Mr. Paddock 1/9 F. R. Bank of Cleveland: Memo. of Mr. Paddock analyzing report of exami nation, as of close of business Feb. 14th. 3/24 Statement by Mr. Herson of observations made during examinatian of, 3/20 F. R. Bank of New York: Instructions to Mr. Herson in re next examinatio n of, 3/20 First National Corporation of Boston: Mem. of Mr. Paddock re examination of, 3/26 Foreign banking corporations; recommendations of Mr. Paddock in re examination of certain, 3/26 Foreign branches of foreign banking corporatio ns under supervision of New York State Banking Dept.; memo. of Mr. Paddock re examinations of, 3/26 Form of verification of loans and discounts in exami nation of certain member banks, submitted by FRBank of San Francisco and approved 3/12 International Banking Corporation of New York: Memo. of Mr. Paddock in re examination of, 3/26 London branch of International Banking Corporation; Board's views requested re advisability of exami ner Norris examining, while engaged in foreign examinations $ 4/7 Mellon National Bank of Pittsburgh, Pa.; last report of examination of, submitted by Comptroller, with analysis showing loans to officers and directors 5/19 Member banks; opinion of Board that under power of FRBanks to examine, they possess right to verify loan accounts of same 3/12 Mercantile Ionk of the Americas: Recommendation of Mr. Paddock that F. R. EN'nmi ners make examination of, independently, or with Conn. authorities, during current year 3/26 Mercantile Trust Co., about to aonsolidate with Savin gs Union Bank & Trust Co. and Mercantile National Bank, all of San Francisco; examination of first bank only necessary 4/5 Shawmut Corporation of Boston; memo. of Mr. Paddock in re examination of, 3/26 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 28 . 30 30 30/ 261 30 40 6 34 008 XLIX Page Examiners: Federal Reserve: Appointment of two additional, at Kansas City, 6/29 authorized Kansas Cockrell, Uonroe F., appointed examiner at 3/5 City per Cockrell, Konroe F., salary approved at 43,600 6/29 an-num 3/2 San Denny, J. 11., appointed acting examiner at Francisco to assist in examination of Bank of Italy Denny, J. 11., appointment as acting examiner at 3/16 San Francisco approval 4/14 Francisco San at examiner as nt Denny, J. Y., appointme 6/2 of Atlanta MBank at Employment of two examiners Harrington, T. J., appointed assistant examiner, 2/4 effective upon reporting for duty 3/2 Dallas at examiner Jernigan, H. T., appointed 3/9 Louis St. at examiner appointed Kunz, Alfred J., 4/26 examiner as on Leake, E. A., designati Litzenburg, Charles, designated assistant examiner 5/27 at Philadelphia effective examiner, assistant appointed Noell, J. C., 2/4 upon reporting for duty 6/2 Phila. at examiner d designate Reeve, Maurice E., Scbapp, Arthur J., appointed stenographer withWestern Force, in accordance with authority granted Dec. 3,1/15 Travel allowance; 'memo. of 11r. Hoxton recommending 3/13 method for increasing, 6/2 Welsh, William A., designated examiner at Phila. National Bank: 1/13 Changes in force during Dec., 1919 2/17 Changes in force during January, 1920 3/9 Changes in force during February, 1920 4/7 Changes in force (luring /larch, 1920 5/6 Changes in force during April, 1920 6/8 Changes in force during may, 1920 notes paper, eligible Practice of, in passing as secured by warehouse receipts covering automobiles; 1/7 memo. of Counsel re, to examiners of Comptroller to call attention 1/7 Board's ruling re above Salaries of National Bank: 6/22 Ackerman, L. H., salary increased to 32,700 3/16 3,600 to increased salary Baker, Wm. B., 6/22 33,300 to increased Barrett, J. W., salary 6/22 Beall, J. H., salary increased to s132,700 2/17 $2,400 at approved salary Jr., C., Bergman, Henry http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 578 239 578 136 276 379 514 140 227 255 409 490 140 514 56 270 514 48 181 256 357 438 526 21 21 557 276 556 557 181 Examiners: (continued) Salaries of National Bank: (continued) Birckhead, 0. W.,salary approved at 04,200 Black, H. W., salary increased to 43,000 Borden, Daniel C., salary approved at 44,500 Borden, J. C., salary increased to 43,000 Boyd, Charles E., salary approved at 43,000 Boyd, Charles E., salary increased to 43,300 Bradley, A. H., salary increased to 43,000 Breg, Clarence E., salary approved at 42,400 Brooks, R. E.., salary increased to 42,700 Brawn, Fred, salary increased to 48,000 Byers, R. d., salary increased to 03,900 Cecil, K. B., salary increased to 44,500 Challman, L. C., salary increased to 43,300 Chapman, C. H., salary increased to 45,000 Chenault, J. B., salary increased to $4,500 Coffin, G. M., salary increased to $4,000 Cooney, Dan H., salary approved at 42,400 Cooper, Roy A., salary approved at 42,700 Cooper, S. H. L., salary increased to 412,000 Dalton, John W., salary approved at 42,400 Daugherty, W. P., salary increased to 43,600 Davenport, Henry B., salary approved at 43,00 0 per annum as Chief of Examining Div.,Comptroller's Office Davis, Thomas H., salary increased to 43,300 Donough, M. E., salary increased to 42,700 DuBois, Nathan S., salary increased to 42,700 Farmer, T. P., salary increased to 44,200 Faris, A. B., salary increased to $3,300 Finney, R. Gordon, salary approved at 44,200 Finney, R. Gordon, salary increased to 04,500 Fletcher, T. E., salary increased to 41,500 Folger, 71illiam P., salary approved at 42,40 0 Freeman, Lloyd H., salary increased to 44,500 Freeman, Lloyd. R., salary increased to 45,000 Funsten, J. B., Jr., salary increased to 42,700 Funsten, W. P., salary increased to 42,70 0 Goodell, George W., salary increased to 04,500 Griffin, J. L., salary increased to $3,90 0 Haneke, E. C., salary increased to 43,600 Hayes, W. 2., salary increased to 43,900 Hodgson, R. M., salary increased to 43,600 Hoffman, L. d., salary increased to 44,200 Hopkins, Baby L., salary increased to 44,800 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/22 4/5 3/9 6/22 3/9 6/22 6/22 6/15 6/22 6/22 6/22 6/22 6/22 6/22 6/22 6/22 6/8 5/14 3/30 2/17 6/22 SO 0 AO 561 ZO 561 561 60 561 SO 566 566 561 666 561 566 531 466 0 16/ 561 1/20 6/22 4/5 6/22 6/22 3/25 6/22 6/22 1/22 2/24 6/22 6/22 6/22 4/14 6/22 6/22 6/22 4/5 6/22 2/24 3** 551 54 61 VP 561 561 61 0 4 Sw 566 661 661 561 3: 4 5_4 67 Pr LI Page Examiners: (continued) Salaries of National Bank: (continued) 6/22 Houston, R. C., salary increased to 44,200 6/22 42,400 at d approve Hurley, Michael J., salary 4/5 $3,900 to ed increas James, A. L., salary 4/5 Jernegan, E. S., salary increased to 43,900 6/22 44,200 to ed increas Kennedy, J. L., salary 3/17 $2,400 at d approve Lammond, W. Morris, salary 6/22 42,700 to ed increas Lammond, W. Morris, salary $3,300 to ed 6122 increas LsRove, O. K., salary 6/22 •:i3,900 to ed increas Longmoor, S. A„ salary 6/22 43,000 to ed increas Lorang, P. J., salary 4/5 43,000 to ed increas McBryde, W. W., salary 6/22 =Cans, Alexander B., salary approved at 44100 4/5 45,100 to ed increas salary McLean, Martin, 1/16 Madland, L. L., salary approved at 42,400 6/22 42,700 to ed increas salary L., Madland, L. 4/5 Mansfield, Fred S., salary increased to $3,000 6/22 Martin, C. H., salary increased to 43,900 6/22 Martin, L. H., salary increased to 43,600 6/22 Miller, J. F., salary increased to 45,000 6/22 Mitchell, W. F., salary increased to 43,300 06 Moore, Samuel A., salary approved at 42,700 5/6 Morgan, William M., salary increased to 45,000 6/22 Mossman, J. D., salary increased to 44,200 Mulloney, Daniel C., salary approved at rate of 416,000 per annum while examining branches of 6/8 national banks in Cuba and South Ameriaa of rate at d approve ,salary C. Daniel Mulloney, 423,000 per annum, while examining branches of 6/22 national banks in South America 6/22 Mulloney, Daniel C., salary increased to $10,000 3/5 newnham, Stephen L., salary increased to 48,000 salary d Norris, Frank L., memo. of Counsel re propose for,as examiner of European branches of national 3/25 banks to annum prior Salary approved at 36,000 per departure for Europe and 42,500 per month 3/25 thereafter, until return Norris, Frank L., recommendation re salary of, in connection with examination of European branches of national banks O'Brien, E. E., salary increased to $3,000 Otto, C. C., salary increased to 43,900 Parker, Edward F., salary increased to 43,900 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3/20 3/23 6/22 3/5 4/5 557 554 344 344 557 279 556 557 557 557 344 555 344 62 557 344 557 557 557 556 549 438 557 527 555 555 212 302 303 286 293 557 241 344 LII Examiners: (continued) Salaries of National Bank: (continued) Partridge, Paul, salary increased to 44,000 6/22 Patterson, B. K., salary increased to ,;?'3,9 00 6/22 Pettit, Earl N., salary increased to ci13,300 4/11 Pole, J. Wm., salary Increased to 47,500 6/22 Raney, H. B., salary increased to 03,300 6/22 Ransom, F. T., salary increased to 34,200 6122 Reed, W. H., salary increased to 43,900 6/22 Regan, dilliam a., salary approved at 02,40 0 6/1 Robb, E. D., salary increased to 44,800 6/22 Roberts, L. K., salary increased to 45,000 6/22 Sawyer, L. M., salary increased to 43,300 6/22 Schechter, W. J., salary increased to 36,50 0 6/22 Scott, H. W., salary increased to 44,500 6/22 Shanley, Frank W., salary approved at 02,40 0 3/2 Smiley, M. D., salary increased to 03,300 6/22 Smith, Clarence F., salary increased to 43,60 0 5/19 Smith, George H., salary approved at 4410 0 4/5 Smith, J. H., salary increased to 45,000 6/22 Smith, Roy E., salary approved at 42,40 0 4/15 Smith, Sherrill, salary approved at rate of 425,000 per annum while examining branches of natio nal banks in Cuba and South America 6/8 Smith, Sherrill, salary approved at rate of 430,000 per annum, Waile examining branches of national banks in South America 6/22 Snyder, V. G., salary increased to 43,000 6/22 Stearns, E. W„ salary increased to 04,800 6/22 Stewart, Charles A., salary increased to 43,300 6/22 Sullenberger, Sam F., salary approved at 43,000 6/8 Summers, G. S., salary increased to 43,600 6/22 Thomas, T. C., salary increased to 44,200 6/22 Thompson, A. D., salary increased to 33,900 6/22 Thompson, Oscar, salary increased to 45,50 0 4/5 Waggoner, David E., salary approved at 43,000 4/15 Walker, H. W., salary increased to 42,70 0 6/22 Williams, Robert G., salary approved at 03,000 3/19 Wilson, L., salary increased to 43,60 0 6/22 Wood, D. R., salary increased to 43,600 6122 Wood, John S., salary increased to 05,50 0 3/5 Exchange: Chinese: Agreement by Treasury to extend total of standard silver dollars it will deliver against curre nt funds of the three American banks vu th branches in Orient; telegram from Board to FRBanks advising of, 2/2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 561 661 30 566 561 561 561 50 561 50 5,61 5P 2P 561 40 0 561 30 51 566d 65; 504 55' 661 344 30 3.0 LIII Page Exchange: (continued) Chinese: Shipment of silver to Orient under Board's agreement with certain foreign banking corporations; memo. of Ur. Emerson recommending profit accruing from, be paid one FRBtnk to be pro rated among all 3/9 FRBanks and S. n U. betwee rates ge Stabilization of exchan China; purchase by RBank of New York, in open market, of bills drawn, accepted and indorsed by 1/30 three foreign banking corporations, authorized or, Direct Acting to s Straus Letter from Ur. 1/30 Div. Foreign Exchange, re above of sum to bills, above of g Limit of drawin 1/30 020,000,000, extended during February Dollar: Brazil; request from Liberty National Bank of New York City for permission to accept in order to create 2/27 dollar exdhange in; denied and East: States United the n Regulation of, betwee Statement by Mr. Strauss re silver dollars accumulated by Treasury and desire to deposit same 2/26 with FRBanks in anticipation of overdrafts Exchange Charges: from enAct of Miss. legislature to prevent FRSystem by nonre, Act of 16 n Sectio forcing provisions of 3/6 g Hardin Gov. by ent statem member banks; with not banks of items t agains in, ion Plan for differentiat on par list; report re failure of Clearing House 1/30 Association of Atlanta to make effective l: ance Counci Accept an Americ of Executive Committee Memo. of Ur. Harrison making report of attenInce at 3/9 meeting of, Executive Folder: Ciroulating in, of copies of correspondence of members of F. R. Board; attention called by Mr. Miller to 6/1 neglect of, Expenses, F. R. Banks: F. R. Bank of Atlanta: Allaaance for hotel bill, meals, etc., of member of Advisory Council when attending meetings of Council 6/22 or Board of Directors etc., meals, Allowances to directors for hotel bill, 6/22 When attending meetings an ling Allowances to officers and employees travel 6/22 Bank's business, for hotel bill, meals, etc. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 253 122 122 122 217 211 245 122-23 250 510 553 552 553 LIT Expenses, F. R. Banks: (continued) F. R. Bank of Kansas City: Item 01,116.74; see spacial letter, J. Z. Miller,Jr. 2/11 F. R. Bank of Minneapolis: Item 032.45, in Gov. !bung's letter of Jan. 2, 1920 2/11 F. R. BRYIk. of St. Louis: Item "Officers dinners - .U0.64" contained in report of expenses of Bank for Nov., 1919; no objection by Board 1/12 Memphis Branch: Item "luncheon, conference officers and managers, $28.35" 2/11 Expenses, F. R. Board: Assessment of F. R. Banks for, for period July - Dec. 6/15 Assessment of F. R. Banks for, for six months ending June 30th.; reply of Gov. Harding to FRAgent Jay re accounting procedure of Banks 5/13 Exports: Gold: Embargo on, from*the United States; propriety of Board making statenaut in answer to suggestion re, discussed 3/2 Letter from Philip Stockton of Old Colony Trust Co. of Boston giving reasons in re desirability of placing embargo an, 2/19 Views of certain representative bankers re embargo an; letter from Mr. Kenzel stating, 2/20 Silver: Daily reports from Collectors of Custom; discontinuance of, approved. 5/14 Exports and Imports: Gold and silver, from Jan. 1 to Dec. 20, 1919; Gov. authorized to make public figures prepared by Statistical Division shming, 1/2 166 166 41 166 54 461 191 191 465 4 Up? Farmers Banking & Trust Co., Tarboro, N. C. Application for manbership in F. R. System Permission e;'anted, to establish branch at Deggetts, North Carolina Farmers State Bank, Shiro, Texas: ' Application of, for admission to F. R. System Federal Advisory Council: Advice re holding of next meeting of, in Washington, Feb. 16th.,& requosting topics for discussion http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/17 118 3/25 0 • 5/15 40 1/20 70 LV Page i6 56 0-4 L91 L91 0.6 L'18 Federal Advisory Council: (continued) attending Allowance for member from Sixth District when 6/22 tors Direc of Board or il meetings of Counc Eleventh Ball, R. L., appointment as member from re, e notic 1920; District for Board; Conference of, and Class "A" directors with P. R. Banks memo. of Asst. Secretary re furnishing F. R. 5/19 s eding proce of t with repor for Credit expansion in the United States, as topic 4/17 17th. May meeting an n Forga dent Reply of Gov. Harding to letter from Presi 1/23 ng meeti last at made tions menda recom re ict h Distr Fourt from Rowe, W. S., appointment as member 1/12 for 1920; notice re, Tenth from of, r membe awinney, E. F., re-appointment as 1/9 District; notice of, d atten to ed invit Bank Three directors from each F. R. meeting of, with Board, on lay 18th., to discuss 4/17 general credit situation st reque ; 17th. May an ng Topics for discussion at meeti 4/12 from President Forgan that Board submit, ict Distr h Eight sent Watts, F. 0., appointed to repre 1/12 for ,year 1920; notice re, Federal Reserve Act: Amendments to, al Authorizing repayment to member banks of capit ngs, of s earni RBank by tion subscriptions, and reten ate adequ m Syste gives us until accumulated surpl n4/21 capital strength; suggested amendment of Mr. Perri n latio legis for draft late formu Committee appointed to 13 on Secti of sion provi tive effec g by Congress makin 2/20 prescribing no exchange charges against RBanks ng Hardi Gov. by tted submi ment amend Draft of proposed 2/20 and approved deGuarantee, by FRBanks, of non-interest bearing 1/26 dent Presi from r lette ; banks r membe of posits , sting sugge s Waggoner of Security Nat. BAnk of Dalla 1/29 Reply of Mr. Moehlenpah H. R. Bill 11,918, to permit designation of State member banks, by Secretary of Treasury, as depositof aries of public monies, or as finamial agents 1/23 Govt.; meno. of Counsel re, recom plan Making effective graduated discount rate; 5/11 mended by FRAgent Ramsey, approved ta, Atlan of k Proposed adoption of resolution, by MBan of to amend Act to change method of distribution 4/16 ied notif Bank earnings, opposed by Board, and http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 553 40 465 390 92 37 26 391 369 38 398 196 195-96 104-5 118 92 445 388 LVI Federal Reserve Act: (continued) Amendments to, Section 13 - defining position of RBanks re colle ction of exchange charges by non-member banks; letter from Gov. to Chairman of House Banking & Currency Committee proposing, 5/5 Section 19, amendment to, re estimating of requi red balances; letter from FRAgent Curtiss recom mendtag, 1/28 Senate Bill 3770, to amend Act in re interest rates charged by member banks; memo. of Counsel re, 1/23 Request from Senator McLean for views of Gov. and Board re effect of bill 1/23 First Federal Credit Bank; application for organ ization of, under Section 25 (a) of Act; memo. re, refer red to Law Committee 1/22 Friendly suit of national bank against MBank to clarify portions of FRAct, suggested by M. J. Dowling of American Bankers' Association 1/23 Section 16; motion by Er. Williams to make affective provisions of, re interest rate on F. R. notes ;tabled 4/30 Federal Reserve Agents: Assistant: Boardman, C. K., Kansas City, salary increased 1/17 Bradley, Richard, appoin tma nt as Assistant Agent at Richmond 6/24 Cobbs, J. B., Birmingham; letter re personal finan cial obligations in relation to official position 3/8 Ebersole, J. F., Minneapolis; appointment 2/20 Rehfuss, J. Frank, Philadelphia; appointment and bond as Acting Assistant Agent 6/22 Rutledge, Charles G., Chicago; appointment and bond as Acting Assistant Agent 6/15 Schutz, Henry, appointment as Assistant RAgen t at Richmond revoked, in view of assignment to other duties 6/24 White, Wm. H., Chicago; desire of, to accompany national bank examiners in examinations of banks in N. Y. City; statement by Comptroller 2/17 Austin, R. L., Philadelphia, salary approved at 415,0 00 per annum 1/5 Confidential memorandum to, embodying terms of letter to be sent Chairman of Banking & Currency Committee of House re pending McFadden & Stegall Bills 3/16 Curtiss, Frederic H., Boston, salary approved at 018,000 per annum 1/5 Hardy, Caldwell, Richmond, salary approved at 015,000 per annum 1/5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4.11 11$ 91' 92 88 91 64 569 391 658 646 569 7r9 1,9 7•9 LVII Page Federal Reserve Agents: (continued) Heath, W. A., Chicago, salary approved at r',24,000 per 1/5 annum per ?30,000 at Jay, Pierre, New York, salary approved 1/5 annum re best views asking Letter to, from Yr. Moehlenpah, m3thod far securing membership La System of eligible 1/10 non-member banks per J12,000 at McCord, J. A., Atlanta, salary approved 1/5 annum at :48,000 approved salary Martin, Wm. Mc., St. Louis, 1/5 per annum, subject to approval of Governor 1/5 annum per Salary fixed at 16,000 at $24,000 approved salary Perrin, John, San Francisco, 1/5 per annum at rj15,000 approved salary City, Ramsay, Asa E., Kansas 1/5 per annum per „48,000 at approved salary Dallas, Ramsey, Win. F., 1/5 annum at ,A5,000 approved salary s, Minneapoli Rich, John H., 1/5 per annum denand unusual of cause asking to, Board from Telegram for currency, evidenced by increasing F. R. note 2/18 issues Wills, D. O., Cleveland, salary approved at eg5,000 per 1/5 annum Federal Reserve Bank Insurance: Reconrendations of committee re, covered by topic 10 of conference of Governors, March, 1919, forwarded by 1/24 E. R. Kenzel F. R. Bank of Atlanta: 1/22 Annual report for year 1919, submitted Bonus: Schedule of extra compensation for employees for 6/23 period Jan. 1 - June 30, 1920 Clearing: Resolution of directors re present as proper time to put into effect charges by member banks upon customers on out of town checks cleared through FRBank Directors: See under heading "Directors" Discount Rates: See under heading "Discount Rates" Dividend approved at rate of 6% per annum for period 6/23 Jan. 1 - June 30, 1920 re Act R. F. to anendnent Earnings of FRBanks, suggested 4/24 distribution of; letter of Gov. Harding re, banks member furnished Copies of letter ordered 4/29 in District http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7,9 7,9 33 7,9 7 9 7,9 7,9 7,9 7,9 183 7,9 99 86 563 200 563 407 420 LVIII F. R. Bank of Atlanta: (continued) Expenses: Allowance for hotel bill, meals, etc., of member of Advisory Council when attending meetings of Council or Board of Directors 6/22 Allowances to directors for hotel bill, meals, etc., when attending meetings 6/22 Allowances to officers and employees travelling on Bank's business, for hotel bill, meals, etc. 6/22 Item 4286 appearing in Nov., 1919, expense report,for Liberty Loan campaign; letter of explanation 1/6 Federal Reserve Corporation; contemplated organization of corporation to be known as, by Federal Trust Co. of Atlanta; advice re, from Deputy Gov. Adelson 5/19 F. R. notes; report re erroneous shipment of, by Post Office Department to Havana, instead of to Jacksonville Branch 5/5 Government bonds, value of, as security for loans; letter re, 6/22 Par collection of checks; resolution adopted by group of State banks protesting against Atlanta's methods, and statement by Bank 2/7 Par collections; injunction suit of Georgia country banks against RBank in re, dismissed April 3rd. 4/5 Purchase of bills from accepting banks; reply of Chairman to Board's letter (X-1825) in re, 2/17 2/18 Quarters: Jacksonville Branch; lease of quarters 1/13 Rediscount of bankers' acceptances; rate of 5N approved an, 4/1 Request frox4, that others beside Class “A” directors be requested to attend conference an May 18th.; disapproved 4/21 Resolution to amend F. R. Act to change method of distribution of earnings; telegram from Board to Bank opposing adoption of, 4/16 Restraining order of Fulton Superior Court issued to, in re collection of cheeks; telegram from Bank re; reply of Board approved 1/15 Modification of above order; advice from Counsel Randolph of Bank re, 1/17 Salaries: Increases in, of officers and employees 6/23 McCord, J. A., FRAgent, salary approved at 412,000 per annum 1/5 Staff of, Employment of bookkeeper at 4150 per month 6/2 Employment of two examiners at 43,000 per annum 6/2 Employment of typist at 475 per month 6/2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 553 55a 553, 15 470 1 433. 1 553) 154 339 119 186 45 320 400 388 5/ 66 50 7,9 514 514 514 Lric Page 54 39AI 79 s6 6 ) 28 o0 588 56 50 1,9 51,4 514 514 F. H. Bank of Boston: 2/9 Annual report for 1919, submitted Bonus: Schedule of extra compensation for employees for 6/8 first half of year 1920 Building program; letter from Consulting Architect re, advising that no estimate of cost had been presented 1/20 him Collateral notes; request whether Bank justified in . accepting for rediscount, not supported by collateral of 100% market value; Board decides should not 6/15 accept 1/20 Committees and officers; list of newly elected, discount thereon, of 'Conference re acceptances and rate in Washington, April 20th.; FRAgent Curtiss and certain 4/12 bankers of District invited to attend. Discount Rates: See under heading "Discount Rates" Dividend approved at rate of el; per annum for period 6/22 Jan. 1 - June 30 with memo. 1919, 29, Nov. of as of, Examination; report 1/9 by Ur. Paddock 1/20 of fees members committees, building Executive and F. It. notes of, in denomination of 41,000; advice from 4/12 FRAgeat of accumulation of, in his hands District; First in notes R. V. for demand Increased 2/24 letter from FRAgent Curtiss explaining, quarters: Building program; advice from Mr. Trowbridge that he 1/23 had received no estimate of cost re, Construction of new; request from Gov. Mores that 1/2 Bank be permitted to proceed immediately with, Bank authorized to proceed at once with construc1/10 tion; statement of Gov. Harding Zuestionnaire (proposed) for foraarding economists, etc., in re reserve and'net deposit liabilities and reclas 1/17 sificatian of reserve cities Rediscount rate, desirability of making, at ef;;,on all classes of paper with maturity 1-90 days; opinion 2/9 of Board requested as to, Salaries: Curtiss, Frederic H., FRAgant, salary approved at 1/5 018,000 per annum Hughes, Frank S., salary approved at 04,000 per 1/12 annum Staff of, 1/20 Officers; list of newly elected Vault: Construction of, letting of contract for; recommendation 2/6 re, from aonsulting Architect Trowbridge http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 158 525 71 543 70 372 552 25 71 372 202 71 4 31 64-65 159 7,9 37 70 149 LX Fag, F. R. Bank of Boston: (continued) Vault: (continued) Construction of; permission requested by Bank to adopt plans of own construction engineer 2/18 Construction of, plans submitted. for; Gov. Harding to consult with Consulting Architect re, 2/2 Construction of; report of architect and engin eers of Bank on plans far, 2/17 F. R. Bank of Chicago: Acceptance of drafts an Indianapolis correspondent of Indiana bankers in payment of remittances,requeste d by Indiana National Bank of Indianapolis 2/26 Annual report for 1919, submitted 1/13 Ball, Frank C.,.appointment as Class "C" director declined owing to inability to dispose of bank stock 4/8 Ball, Frank C., qualified as Class "C" director and oath of office foraarded to Board 5/10 Banking hours changed; notice re, 4/12 Bonus: Schedule of extra compensation for employees for second quarter, 1920 6/24 Substitute schedule of extra compensation for employees submitted by Mr. Paddock; approved 3/4 Booklet issued by; memo. of Mr. Emerson commenting upon language in, bearing an fiscal agency operations of FRBanks 2/24 Bonus: Additional compensation for employees for first quarter, 19X; recommendation re, 3/2 Building plans: See undercuarters of Bank" By-laws; notice of amendment to, to provide for six, instead of five, members of executive committee 1/26 Chicago Clearing House Association; request from FRAgent as to wlether, should occupy space in Bank's propo sed new bank building 6/15 Collecting items on non-member banks; lette r from FRAgent Heath re method of; acted upon 3/4 Complaints of John A. Lynch re certain activ ities of; letter from Gov. McDougal re, 5/27 Contemplated action of, in declining to accep t as collateral for F. R. notes, paper secured by Gover nnant obligations,unless secured at market rates ;approved 5/28 Contribution by, toward new quarters for Chicago Chapter ' of American Institute of Banking; Board's appro val requested 5/19 Draft of reply prepared by Counsel 5/25 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .0.16 45 362 366 57° 256 2;8 icd so g31) 489 494 469 46$ LXI Page F. R. Bank of Chicago: (continued) Directors: See under heading "Directors" Discount Rates: See under heading "Discount Rates" Dividend approved at rate of .kc per annum for period 6/22 Jan. 1 - June 30 of by-laws to Executive committee; notice of aneniment 1/26 Bank providing for six, instead of five,members of appropriation Federal Reserve Club; approval of $'8,000 for use by, in connection with educational 3/23 work for 1920 Board of, that n recommendatio Leased wire committee; act as custodian of copies of code books to be formu2/17 lated by sub-committee on codes /17 2 approved Harding Gov. of Reply operation in expense of allocation system, wire Leased of; letter from Gov. McDougal re, with memo. thereon 5/11 by General Counsel Leased wire system, plan of handling expenses in operation of main lines of; letter from Gov. Harding to Gov. 5/12 McDougal re, Tiarriage of male employees receiving less than 4125 per month; attention directed to press dispatches in re 3/8 prohibition of, 3/17 Letter of explanation from Bank re rule as to, Meredith, E. T., committee of Board qppointed to submit 2/2 recommendation re successor Meredith, D. T., resignation as Class "C" director, and 2/13 suggestions re successor Paper carried by, for RBank of New York; Board requested to arrange that other FRBaaks take over 420,000,000 3/12 of, to District Par list; all banks in Wisconsin in Seventh be placed on, on March 1st., subject to approval by 1/26 ERBoard; notice re, Co., Insurance Life Colony Old Party wall agreement with 3/29 rights of Bank under; letter re, quarters: Bid of W. J. Newman Co. for wrecking buildings on 4/21 site of new bank building, accepted Building plans; letter, with preliminary plans,submitted; Architect of Bank authorized to proceed with 1/26 working plans an basis of preliminary plans Diamartling of bank building awaiting approval of 4/5 ERBoard; letter re, Agent as to whether Chicago Clearing Request from House Association Should occupy space in proposed 6/15 new bank building http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 552 104 291 179 179 446 449 ' 246-47 278 128 173 266 104 315 399 103 338 540 Page l F. R. Bank of Chicago: (continued) Rediscounts: See under heading Sediscounts" Rights of, under party wall agreement with Old Colony Life Insurance Co.; letter re, 3/25 Salaries: Heath, W. A., FRAgent, salary approved at $24,000 per annum, effective Jan. 1, 1920 1/5 Increases in, of employees of the several departments, effective July 1st. 6/24 Staff of, Assistant FRAgent White, desire of, to accompany national bank examiners in examinations of banks in New York City; statement of Comptroller 2/17 Marriage of male employees receiving less than $125 per month prohibited by Bank; attention directed to press dispatches re, 3/8 Rutledge, Charles G., appointment and bond as Acting Assistant FRAgent 6/15 F. R. Bank of Cleveland: Annual report for 1919, submitted 1/13 Authority granted, to act as agent for War Department in holding in escrow contract made by latter with Domsst ic Coke Corporation 1/13 Bonus: Schedule of extra compensation for employees for first quarter, 1920 3/8 Schedule of extra compensation for employees for second quarter, 1920 6/8 Discount Rates: See under heading "Discount Rates" Dividend approved at rate of 6$ for period Jan. 1st. to June 30th., 1920 6/15 Examination, as of close of business Feb. 14th.; memo. of 11r. Paddock analyzing report of, 3/24 Examination; statement by Mr. Herson of results of observation during, 3/20 Expenditure of 44,000 for personnel aid educati onal work for last six months of year,approved 5/10 Fiscal agency account of; letter from Assistant Secretary Leffingwell of Treasury re differences in, 6/22 loss through failure of Struthers Savings & Banking No Co., Struthers, Ohio; report re, 4/8 Personnel and educational work, expenditure of 44,000 for, during last six months of year, approved 5/10 Publicatian,"Federal Reserve Notes", of Bank; appropriation of $1,500 to defray part expense in connection with, to July 1, 1920, approved 3/8 Rediscounts: See under beading "Rediscounts" http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ( 510 246 546 46 46 24I 524j 546 300 261 439 561 36g 439 Page F, R. Bank of Cleveland; (continued) Reserves, deficiencies in; member banks assessed penalties for, from six to fifteen consecutive months; 1/15 advice re, requesting Increase in penalty rates 1/15 EBanks all of Govs. Reply of Gov. ordered sent y Advisor Federal of member Rowe, W. S., appointment as 1/12 Council from Fourth District Salaries: Adjustments in, effective July 1st., and plan adopt6/22 ed by Bank for future adjustments, approved c25,000 at d approve salary , Wills, D. C., FRAgent 1/5 per annum of, Staff 5/14 McClure, Janes H., appointment and salary 5/14 salary and ment appoint F., , C. McCombs 5/14 Stephenson, G. H., appointment and salary Subscribers to Liberty bonds; practice of Bank in forwarding bonds to, by registered mail, when living 4/30 in Cleveland F. R. Bank of Dallas: 1/27 Annual report for 1919, submitted y Ball, A. L., appointment as member of Federal Advisor 1/12 Council from Eleventh District Bonus: Schedule of extra compensation for employees for 6/24 period Jan. 1 - June 30 report from; Borrowings of State member institutions 5/15 re status of, shestabli for made ments Branch post office at; arrange 3/24 ment of, L. R. from letter of copy t; Cattle loans in Distric 6/9 Ball re treatment of, forwarded FRBoard detailZandt Van Gov. from letter ent; Clearing departm 2/9 ing difficulties confronting, ce referen further t; Distric h Elevent in Clearing plan 1/24 to effective date of abolition of, banks from protest t; Distric h Elevent in g Clearin plan at Fort Worth, Texas, against discontinuance of; 1/29 memo. of Mr. Hoxton re, 1/29 Date of abolition of plan postponed until March 1, Collection agencies in Eleventh District; establishment 2/24 of certain, recommended by RAgent Ramsey 5/1 Credit conditions in District; report re, Discount Rates: See under heading "Discount Rates" Dividend approved at rate of et;.; per annum far period 6/22 Jan. 1 - June 30 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 55 55 37 561 7,9 457 457 457 424 108 40 568 461 296 532 160 100 117 117 201 429 552 rag° F. R. Bank of Dallas: (continued) Expenditure of ;,)1,666 in acoustical treatm3nt of walls of Houston Branch, approved 3/23 Organization of; FRAgent authorized by Board to appoint committee of three directors to consider and recammenA changes in, 3/24 Par collection plan of FRBoard; notice from Gov. Van Zandt of meeting to be held in New Orleans,Feb. 6th., for discussion of, together with Board's reply 2/5 Payment of per diem allowance to Class "A" directors attending conference an May 18th., disapproved 4/21 Plan to make effective graduated. rate amendma nt to MAct, recommended by FRAgent Ramsey 5/11 Propriety of MBank receiving for collection maturing items forwarded direct from menter bank in another district for account of the MBank of such other district; memo, of Counsel re inquiry as to, 2/17 Purchase by, of mail transfers an New York and other eastern cities; statement of certain bankers in District re, requesting same not be discontinued 3/25 Rediscounts: See under heading 'Rediscounts" Reserves: Proposed chansre in method of calculating required, of FRBanks; discussion between FRBoard and bankers of Eleventh District re, 2/3 Texas committee authorized to prepare report outlining new plan of calculating, 2/3 Rebate of penalty for deficiencies in, of member bank, approved, due to failure of the ii1RBak to receive remittances delayed in mail 6/10 Salaries: Adjustments in, at Bank & Branches; memo. of Ur. Paddock suggesting action on recommendations for, 1/2 Certain recommendations in; letter from Board to Bank re, 4/28 Christilles, C. C., secretary to FRAgent, increase in salary 4/1 Connor, 7/11liam, increase in salary requested 4/26 Douglas, John 0., in charge of State bank membership campaign at Houston Branch; salary increased 3/25 Evans, W. J., salary increased to 4,500 per annum 2/24 Freeman, Reese T., salary increased 1/17 French, L. L., increase in salary requested 4/26 Galloway, R. A,, salary increased 5/25 Gilliard, S. L., increase in salary requested 4/26 Hudel, 17,. J., increase in salary requested 4/26 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 292 300 145 400 446 3.31 ) 06 416 40° 206 66 40 408 408 LXV Page P. R. Bank of Dallas: (continued) Salaries: (continued) Ikard, Floyd, Asst. Cashier, salary increased to 3/23 0,600 per annum Increases in, must all be submitted to aBoard 3/29 before becoming effective Increases in, of certain employees in F. R. Agent's 4/28 Dept.; Board's reply to re4uest for, 5/11 Increases in, of eighteen employees, approved 2/24 Increases in, of employees of Transit Dept. 4/26 Kennedy, (Miss), increase in salary re,uested Killingsvorth, J. L., Manager Fiscal Agency Dept., 3/23 salary increased to 0,300 per annum 4/26 Leach, R. V., increase in salary resiuested 4/26 Mayberry, George, increase in salary re,uested 4/26 Nero, Laut, increase in salary re,uested of, salaries of schedule Officers and employees; 1/6 effective Jan. 1, 1920 $18,000 at approved salary Ramsey, Wm. P., FRAgent, 1/5 per annum & Gov. Cashier: Talley, Lynn P., Deputy 1/6 Increase in salary recommended; action deferred 1/17 disapproved salary, Recommendation re 2/24 annum per Salary at ,',110,000 4/13 Salary increased Teagarden, Carl B., Asst. General Auditor, salary 2/24 increased to :;;',4,000 per annum .g7,500 to in salary increase L., Van Zandt, (Gov.) R. 1/17 per annum, recommended; disapproved of,3/2 n compensatio re in letter L., R. Van Zandt, (Gov.) 4/13 Van Zandt, (Gov.) R. L., salary increased /26 4 re,uested salary in increase Lawrence, Ware, 4/6 increased salary C. H., Wells, Staff of, 2/24 Christilles, C. C., appointment as stenographer Douglas, J. O., field representative, to be continued 5/19 in present status 3/2 Jernigan, H. T., appointment as examiner 2/24 Leader, Sam 31., Cashier, appointment as, 5/12 Teagarden, Carl 3., election as General Auditor Supplemental statistics bearing upon operations of, 2/11 for 1919, submitted Unsatisfactory conditions at; statement of rumors re; idr. Hoxton authorized to visit 3ank for purpose of 2/19 Investigation F.R. Bank of Kansas City: Agricultural and livestock interests; newspaper 6/10 interview by Gov. Miller re fostering of, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 292 316 415 446 201 408 292 408 408 408 13 7,9 13 66 201 374 204 66 228 374 408 354 201 470 227 201 449 165 191-92 536 LXVI F. R. Bank of Kansas City: (continued) Annual report for 1919, submitted 1/22 Automobile paper classed as non-essential industry and therefore undesirable for rediscounting; state ment by committee of local automobile industry re ruling of Think 4/27 Statement by Gov. Harding to committee,outlining Board's position 4/27 Branches: Resolution of directors approving applicatio n of member banks at Tulsa, Oklahoma,for branch at Tulsa 1/20 Establishment of branch disapproved by Board 1/20 Cattle industry in District; letter from Gov. Miller re call made by representatives of, and re effec ts of graduated rate plan upon industry 5/10 Cattle industry in District; report re metho ds of financing, 5/15 Collection of items of non-member banks not clearing at par; complaint from Nebraska Department of Trade & Commerce re methods employed in, 2/2 Collection of items on non-member banks not remitting at par; resolution of Rep. Andrews proposing inves tigation of claims of non-member banks in Nebraska against methods employed in; ,)/.) Committee of, granted hearing by Board an April 3rd. in re bid for construction of new bank building 3/24 Hearing postponed until April 6th. 3/29 Complainants against par point campaign of, to be notified Board will grant them hearings but will not receive depositions 4/6 Conference with ERA.gent Ramsay and Transit Manager of Omaha Branch re charges of Nebraska Congressio nal delegation against Bank's par point campaiGn, re,uested by Board 2/18 Cooperative store to be operated by emplo yees of; protest from Retail Grocers Association of Kansa s City against, 3/23 Dividend approved at rate of eic;; per annum for period Jan. 1 - June 30, 1920 6/29 Expense item i1,118.74 (see special letter from J. Z. Jr.) 2/11 Installation of private wire between, and its Oklahoma City Branch, re,uested; refused 4/17 Minutes of meeting of Board of Directors on April 29th.; copy of, forwarded F. R. Board 5/11 Mr. Hoxton authorized to visit, to ascertain results of adoption and application of graduated rate plan 5/10 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 86 411 412 69 /4 441A' 46Z 1Z1 296 316 386 186 616 166 50' 441 4-46 LXVII Page P. R. Bank of Kansas City: (continued) Paper not bearing endorsement of non-member bank but for Which same is principal; ruling of Board re3/9 quested re policy to be pursued by FRBank re, quarters: Bank authorized to procure and submit to Board for approval, bids covering steel and cement work 2/25 for contemplated building committee building; bank new of Bid for construction of Bank granted hearing by Board on April 3rd. re, 3/24 3/29 Hearing postponed until April 6th. bank new of construction beginning for Necessity building at earliest possible moment, presented 2/24 by Gov. Miller Oklahoma City Branch; inability to acquire at reason2/19 able rental; advice re, Report of Mr. Trowbridge re bids for construction of new building, recommending acceptance of that of 4/6 Geo. A. Fuller Co.; action deferred Authority granted Bank to negotiate contracts 4/7 for construction of new building and vaults Rediscounts: See under heading "Redismunts" Salaries: Adjustments of; memo. of Mr. Paddock suggesting action 1/2 on recommendations for, at Bank and branches Boardman, C. K., Asst. FRAgent, salary increased to 1/17 46,000 per annum Cockrell, Monroe F., Examiner; salary approved at 6/29 $3,600 per annum of Fiscal Agency Dept.; increases in salaries 1/6 employees ,:;15,000 at Ramsay, Asa E., ElAgent, salary approved 1/5 per annum per $2,400 at approved Storm, George A., salary 6/29 annum 4/17 anmam per .;,;*2,400 at approved y Wilson, Walter,salar Staff of, 3/5 Cockrell, Monroe F., appointed exmminer 6/29 authorized additional, two of Examiners; appointment 6/8 McAdams, Arthur M.,appointment as assistant cashier 1/26 1920 year for appointment of Officers; notice 6/8 cashier assistant as nt H.,appointme Pipkin, George Swinney, E. F., reappointment as member of Federal 1/9 Advisory Council from Tenth District Branch; contract and Omaha Telegraph service between, 5/15 . covering, disto in position is Bank that advice U. S. 4-r; bonds; 3/27 pose of certain, and asking Board's views http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 253 206 298 315 198 190 354 358-59 2 64 578 14 7,9 578 393 239 578 527 105 527 26 462 311 rage F. R. Bank of Kansas City: (continued) Wireless telegraph equipment; suggestion from Baru for installing of, between RBanks and branches 4/17 F. R. Blink of Minneapolis: Annual report for 1919, text of, sulxaitted 1/16 Bonus: Schedule of extra compensation for employees for period. Jan. 1 - June 30, 1920 6/23 Credit and. business conditions in District; report re, 5/10 Discount Rates: See under heading "Discount Rates" Dividend, approved at rate of eFi.c per annum for period. Jan. 1 - June 30, 1920 6/23 Earnings; item "protest fees `t)184.95" 2/11 Expense item 32.45 in Gov. Young's letter of Jan. 2nd.. 2/11 F. R. note situation and credit conditions in Ninth District; analysis of, submitted by 1/7 EllAgent Margin required. by, on all notes discounted, secured by Liberty bonds and Victory notes bearing date after June 6th., and. Bank not lending in excess of 80%. of par value; advice re, 6/1 ;uarters: Building program, policy in carrying out; request from Gov. Young for suggestions by Board. re, 2/12 Salaries: Ebersole, J. F., appointed. Assistant FRAgent at $4,500 per annum 2/20 Employees; schedule of salaries for, submitted,with memo. of hr. Paddock recommeraing, approval 1/27 Rich, John H., IMAgent, salary approved at 13.5,000 per annum 1/5 Silver dollars; Bank able to obtain about 125,000 of, from local banks; advice re, 1/27 Staff of, Ebersole, J. F., appointed Assistant FRAgent 2/20 Bank of New York: F. R. Acceptances: Bankers'; reply of Bank to Board's letter (K-1837) re special rates for open market purchases of, 3/2 Thcarnination of specimen, purchased by Bank, by Gov. Harding, and statement that holding of paper of this character constitutes prime bills of liquid. nature 1/10 Holdings of; memo. re, containing in detail transactions of Bank in New York acceptance market, submitted by Gov. Harding 2/28 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 30 63. 4.43 563 166 166 23 511 3,9/ 106 ' 9 7,9 191 Page 3 S 6 10 91 06'9 t9 10 91 17,1 F. R. Bank of New York: (continued) Acceptances: (continued) Purchase of barkers', from member bank, with latter's endorsement; request from Bank whather to 4/5 classify as redisoaunt Bank as of by held Purchased in open-market and 4/9 March 27th.; memo. of Ur. Paddock Jay, FRAgent ; Acceptances and rate of discount thereon Ur. Kenzel, and committee of bankers invited to attend 4/12 conference in Washington, April 20th., to discuss 3/8 ed submitt of, proof Annual report for 1919; page re,askreport ; 1919-20 t, movemen Argentine gold export ing Board's views re Bank undertaking transactions 3/2 involving shipment of gold from London to New York of, nt agreeme under RBanks Basis of participation by with Bank of Japan, submitted by PRBank; agreeable 5/5 to Board 5/13 d approve ment, arrange above of Amendment Bonus: Officers and employees; schedule of extra compensation 3/25 for first quarter, 1920, approved and s officer for tion compensa Schedule of extra 6/24 employees for second quarter, 1920 4/17 of, review t; Distric Second in Business conditions 6/22 Business report for month. of May, 1920 life of officer of lity eligibi ; Class "B" director 1/17 insurance company as, re14/5 report 3rd.; April s busines of Condition of, at close Contingent liability of, in connection with bills purchased for Bank of Japan; memo. of Ur. Emerson re 3/23 publication of, 2/17 ed request as, Hart H. Edward of ment appoint Counsel; notes; Bank R. F. York New dollar ten of eiters Counterf 4/9 arrest of, reported Daily report of business and financial situation in New 3/2 York, from Asst.gRAgent 4/9 Daily report of conditions in Second District Daylight saving law of New York State; effect of, on 3/24 inter-F. R. Bank transactions; memo. of Mr. Emerson if law, No objection by Board to Bank observing necessary employees remain daily until close of 3/24 inter-F. R. Bank transactions Deputy-Govs.; addition of two, suggested by G. F. Peabody in letter to Secretary of Treasury; Board favorable 3/24 Discount Rates: See under heading "Discount Rates" Dividend approved at rate of 6,;; per annum, for period 6/24 Jan. 1 - June 30, 1920 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 342 364 372 246 224 435-36 450 305 569 391 553 63-64 337 293 178 365 225 365 295 295 295-96 570 pa F. R. Bank of New York: (continued) Earmarking of sold by, for Directie der Javasche Bank 6/8 Examination of; instructions to 1.1r. Herson in re next, 3/20 Expected heavy loss by, in today's settlement, and. probable necessity for negotiation of large rediscount operation; statement by Gov. Harding 1/29 F. R. Bulletin; refusal of request of Bank to subscribe for 75 to 100 additional copies of, 2/24 Federal Reserve Club; approval of appropriation of 16,500 to defray expenses of, for remainder of year, requested 6/1 Financial and, business conditions in Second District; report re, 5/19 Form of agreement between, and Bank of Japan, submitt ed 3/13 German gold. earmarked with Bank of igland for account of RBanks; practice of New York re sale of, 5/25 German gold purchased by, from U. S. Grain Corporation; statement by Gov. that latter is anxious for settle ment in re, 3/11 Proposed. basis for settlement, submitted by Bank 3/12 Gold. roubles, shipment of, from Russia to United States ; letter re, 6/8 Governor; inquiry by Mr. Miller re filling of office of,2/28 Governor; motion by Mr. Miller that immediate steps be taken to secure resigaation of Benjamin Strong as, and fill vacancy; tabled 3/2 Interlocking directorate situation in New York; RAgent requested to bring data and static.Itics re, to Washington 4/12 Lee, Higginson, & Co.; statement of financial condition, qualifying acceptances as eligible for purchase in open market; advice re, 1/22 Board votes report be made upon nature and form of information given by all such firms, stating whe ther oral or in writing 1/24 Liquidation which has taken place in Second District; statement bearing upon, submitted by Acting Gov.Case 2/25 Linimurn rate of U",,; approved on purchase of bills in open ze.rket by, 2/6 Money pool in New York between January and. and 28th., 1920; analysis and comparison of borrowings and deposits of sixty three banks participating in, 2/3 Monthly report of business conditions in Second Distri ct; introductory section of, submitted 5/1 Note and. deposit liabilities; permission requested, by Bank to modify mathod of making public figures showing , percentages held against, 2/27 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 281 204 511 465 210 482 260 269 414 91 20 ' 3.491' 429 211 a Page P. R. Bank of New York: (continued) to,2/6 Observations made by Gov. Harding during recent visit n bankcertai Oral statement of condition filed with, by ing firms doing acceptance business; correspondence re, and suggestion that all statements be in 2/11 permanent form 2/19 ending Profit and loss account for six months period 1/6 Dec. 31, 1919; statement re, 0 9 84 01 90. 0 6#1 ',919 iS Authority granted Bank to purchase adjoining property to that acquired for erection of storage warehouse 6/3 Plan for storage building and offices for fifty 4 1,727,000, including land, employees at cost of j 6/29 presented by Committee from Bank; approved g storin for ng buildi Purchase of ground to erect 4/16 records, eta., approved z & Eidlit Marc d awarde Storage building; contract 5/27 Sons for immediate construction of, of Chief Asst. man, Dunkle Raising of notes by Arthur C. 6/24 Money Division; letter to Secret Service re, report York; New of Co. Rediscounts for Guaranty Trust 4/28 re 2/28 to, visit g of Report by Gov. Hardin 1/29 1919, er, Decemb for Report re business of, by filed oral, or n writte Reports; dates of last, certain banking corporations doing acceptance 2/4 business; advice re, file on has York New if ain ascert to Vice-Gov. record of oral report of certain of above 2/4 corporations s Reserve deficiencies; memo. shoving dates and amount 4/1 of, together with statement by Gov. Harding of Reserve deficiencies shown in Bank's statement 2/28 Feb. 20th.; query of Mr. Miller in re, Bank re; g Reserve position of, report by Gov. Hardin required to discount in amount of ,1;100,000,000,with 1/14 certain other R1Banks during in, Reserve position of; report re improvement 4/28 period Feb. 25 - April 22 tender legal and gold Reserve requirements; insufficient to supply minima, against both note and reserve deposits; opinion of Counsel requested as to apportion2/27 ment of reserve of ility probab Reserves; statement by Gov. Harding of Bank being short In, of date; rediscounts 3/11 authorized for, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 147 164 192 16 517 572 389 488 571 415 221 117 141 141 327 222 53 415 218 265 LXKII Page F. R. Bank of New York: (continued) Salaries: Case, J. H., Acting Gov.; Board disapproves increase in salary pending permanent settlement of governorship 3/24 Deputy-Governors; increase in salaries of present, suggested by G. F. Peabody in letter to Secretary Houston; Board not favorable 3/24 Dodge, Edward L., salary approved at 05,000 per annum, . as Chief of Examining Division of Auditing Dept. 4/21 Employees of Auditing Dept.; suggested increases for, approved upon recommendation of 11r. Hoxton 6/22 Increases in, of certain employees 5/25 Increases in, of employees, effective July 1st. 6/24 Increases in, of employees whose anniversaries of employment fall during April 4/17 Increases in, of sixty-seven employees 4/1 Jay, Pierre, FRAgent, salary approved at 030,000 per annum 1/5 Payment of employees of Auditing Dept. for overtime work 5/14 Plan of compensation submitted, approved upon recommendation of Executive Secretary 6/22 Promotions and changes in title of certain officers of Bank 5/25 Rice, Jams L.,increase in salary 5/25 Stabilization of exchange rates between U. S. and China; purchase by Bank in open market of bills drawn, accepted and indorsed by three foreign banking corporations, authorized 1/30 Limit of drawing of above bills, to sum of 020,000,000 extended during February 1/30 Staff of, Aldom, Charle s V1., appointment 5/13 Blair, John D., appointment 4/17 Dodge, Edward L., appointment 6/15 Harrison, George L., elected Deputy Gov. 5/13 Hart, Earard H., appointment as Counsel requested 2/17 Lindgren, Albert A., appointment 5/13 O'Connor, Joseph L., appointment 4/17 O'Connor, Joseph L., resignation 5/13 Ott, John A., resignation 5/13 Payment of employees of Auditing Dept. for overtire 5/14 Promotions and changes in title of certain officers 5/25 Prouty, Carl R., appointment 5/13 Snyder, Carl, employment as manager of Statistics & Information Dept. at 010,000 per annum,recommended 1/23 Appointment approved 1/29 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 296 296 401 561 461, 510 39 7,9 461 561 466 466 3.0 40 39 40 118 463 39 46 46,3 461 466 116'1 Pace P. R. Bank of New York: (continued) Staff of, (continued) 4/17 Twiddy, Wesley S., appointment 4/17 Wichern, John H., appointment Withrow, Charles, discontinuance of services of, 6/15 May 1st.; notice re, Statement of condition; memo. of Mr. rxerson as to whether Bank should show in, contingent liability assumed in connection with purchase of bills under 3/26 contract with Bank of Japan P. B. Bank of Philadelphia: 1/29 Annual report for 1919, submitted Banking and business conditions in Third District; report 5/19 re, and upon activities of Bank Banking and credit conditions in District, also condition 5/12 and activities of Bank; report re, Bonus: Schedule of extra compensation for employees for six 6/22 months ending June 30th. Conference of Clearing House Representatives at Chicago, Jan. 23rd.; inquiry from Agent whether FRBanks are 1/17 to pay expenses of representatives attending, Directors: See under heading "Directors" Discount Rates: See under heading "Discount Rates" Dividend approved at rate of 65 per annum for period 6/22 Jan. 1 - June 30 Executive committee meetings; fee of directors attend1/6 ing, increased to 020 3/4 Governor; acceptance of office of, by Geo. W. Norris Loans, reduction in, of member banks with the FRBank, 5/19 during past three weeks; letter from Gov. Norris Norris, Georgp W., notice of acceptance of office of 3/4 Governor Passmore, (Gov.) E. P., notice of intended resignation, 1/22 effective not later than end of February Passmore, (Gov.) E.-P., selection of successor to; letter 2/6 from FRAgent Austin 4,uarters: Expenditure of 090 per month for additional space, 4/21 approved Rediscounts: Sea also under heading "Rediscounts" Situation re, at Bank; letter from FR11E:tint Austin 2/6 3ornmenting upon, 3 3, 1 J6 ' http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 392 392 546 308 118 465 448 552 67 552 14 235 469 235 84-85 149 398 149 LMTV page F. R. Bank of Philadelphia: (continued) Reports an business conditions; additions to force, and more space, necessary for making enlarged, 1/14 Letter from Dr. Willis in re securing necessary space 1/20 Salaries: Austin, R. L., FRAgent, salary approved at 015,000 per annum 1/5 Davis, W. J., Asst. Cashier, salary increased to 07,500 per annum 3/10 Dyer, U. A., Cashier, increase to 012,000 per annum recommended;, disapproved temporarily 3/10 Dyer, W. A., Cashier, salary increased to 012,000 per annum 4/24 Earl, Samuel R., Asst. Cashier, salary increased to 06,000 per annum 3/10 Hutt, W.11., Jr., Deputy Gov., increase to ;15,000 ,.4 per annum recommended; disapproved temporarily 3/10 Hutt, W. H., Jr., Deputy—Gov., salary increased to 015,000 per annum 4/24 Junior officers; recommendation re increases in salaries of, 3/2 LaBold, F. W., Asst. Cashier, salary increased to 06,000 per annum 3/10 McIlhenny, O. A., Asst. Cashier, salary increased to 47,500 per annum 3/10 Miller, R. M., Jr., Asst. Cashier, salary increased to ,)6,000 per annum 3/10 NO/TiS, George W., salary approved at 025,000 per annum, upon report for duty as Governor 3/8 Officers; recommendation of Lir. Paddock that action on increases be d3ferred pending appointment of new • Governor 3/3 Officers and employees; schedule of salaries, effective Jan. 1st., 1920, approved 1/7 Officers and employees of FRAgent's Dept.; schedule of salaries, effective Jan. 1, 1920 1/7 Rehfuss, J. Frank, salary increased to 02,500 per annum 6/24 Toy, James 1.1., Asst. Cashier, salary increased to 06,000 per ramum 3/10 Wittman, Joseph, salary increased to 02,100 per annum 6/24 Staff of, Litzenburg, Charles, designated assistant examiner 5/27Reeve, Maurice E., appointed in Dept. of Examination 3/2 Reeve, 'Maurice E., designated examiner 6/2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TO 71° 25e 2,58 404 25° 25° 40°A 268 08 2111 611 490 01, 51* Page F. R. Bark of Philadelphia: (continued) Staff of, (continued) Rehfuss, J. Frank, appointment and bond as Acting 6/22 Assistant FRAgent from letter Passmore; Selection of successor to Gov. 2/6 FRAgent Austin re, 3/2 BxAmination of Dept. Welch, William, appointment in 6/2 Welsh, William A., designated examiner 3/2 Wolfinger, C. E., designated examiner Vault: Bid of New York Safe and Lock Jo. to install, in new building, approved upon recommendation of LIT. Trowbridge Construction of foundation for new; advice from Bank re letting of contracts for, on "time and material 2/18 basis" Expenditure not in excess of 0150,000 approved, for alterations to building in connection with in2/4 stallation of new vault Recommendations of Consulting Architect re character 1/13 of construction for new vaults P. R. Bank of Richmond: Acceptances of Armour & Co. and Swift & Co.; letter from Deputy Gov. Peple re; Executive Secretary authorized to visit Richmond in connection with, 3/9 2/20 Annual report for year 1919, submitted Bonus: Schedule of extra compensation for employees for period 6/24 Jan. 1 - June 30 Discount Rates: See under heading "Discount Rates" Discount situation at; W. W. Hoxton to visit Bank and 6/15 report on, Dividend approved at rata of k; per annum for period 6/22 Jan. 1 - June 30 Immediate credit symbol used by banks of district; correspondence in re refusal of certain New York banks to 1/24 recognize, over their checks in Govt. cashing FilBanics Liability of counters; letter from Deputy Gov. re, with reply of 3/9 Gov. Harding small membership to admitting in pursued Policy to be 2/19 State institutions in Fifth District; letter re, Quarters: Addition of sixth story to proposed bank building,at 1/2 cost of approximately 475,000, authorized bank new of construction in made being Progress 3/15 building; report re, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 556 149 227 514 227 122 184 141 46 253 194 568 543 552 100 251-52 192 3 461 Page F. R. Bank of Ri&imond: Salaries: Broyles, Frank E., salary approved at2,500 per annum 3/24 Employees; obanges in salaries, effective Jan. 1st. 2/12 Hale, D. M., salary approved at c)3,000 per annum 3/24 Hardy, Caldwell, FRAgent, salary approved at ,A5,000 per annum 1/5 increases in, effective July 1st. 6/24 Leake, E. A., salary approved at ;2,500 per annwm 3/24 Transit Department; adjustment of salaries in, 3/20 Transit Department; increase in salaries of employees4/5 Transit Department; request for increase in salari es of employees 3/18 Wheelwright, W. H., salary increased 4/5 Staff of, Bradley, Richard, appointed Asst. FRAgent, effective July 1st. 6/24 Johnstone, A. S., designated Assistant to Governor 5/1 Schutz, Henry, appointment as Asst. FRAgent revoke d, in view of assignment to other duties 6/21 F. R. Bank of St. Louis: Annual report for 1919, submitted 2/17 Attebery, 0. M., Deputy Gay.; propriety of, serving on committee of American Bankers' Association 1/17 Boehne, John W., Class "C" director; desirability of resignation, in view of proposed Conressional campaign 4/1 Credit expansion in Eighth District; correspondence re checking of, submitted by Mr. Hoxtan 4/21 Credit situation in Eighth District; Mr. Hoxton authorized to visit St. Louis to discuss, 5/10 Directors: See under heading "Directors" Discount Rates: See under heading "Discount Rates" Dividend approved at rate of 6,;.; per annum for period Jan. 1 - June 30 6/22 Expense item "Officers dinners - c60.84" contained in report of Bank for Nov., 1919; no objection by Board 1/12 Mississippi State banks; letter from Board re recent legislation by State of Mississippi providing for depositors' guarantee fund upon eligibility of, for membership in System 5/19 Salaries: Adjustments in, of officers and employees 6/29 Martin, Wm. Mc:C., FRAgent, salary approved at 0.8,000 per arrum, subject to approval by Governor 1/5 Salary fixed at .A6,000 per annum 1/5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 291 110 291 7,9 569 291 268 346 261 345 569 41 669 116 64 0 399 4)0 50 41 464 519 7 9 Page F. R. Bank of St. Louis: (continued) Staff of, 3/9 Kunz, Alfred J., designated examiner /5 4 Papin, J. Vion, appointment Board Time schedule for transit items of; letter from 3/30 approving , r as membe Watts, F. 0., appointment from Eighth District 1/12 1920 year for il Counc of Advisory P. R. Bank of Sun Francisco: Anglo and London-Paris National Bank of San Francisco, application of, to receive immediate credit for its 's national bank note deposits; explanation of RBank 5/5 attitude toward, 1/13 Annual report for yeai 1919, submitted 1/13 as, rt Stewa H. C. of t Assistant Deputy Gov.; appointmen banks nal natio ring Bank of Italy; action of, in acqui n and operating same as branches; letter from Mr. Perri 1/6 and memo. of Mr. Hoxton re, Bonus: d Schedule of extra compensation for employees for perio 6/23 Jan. 1 - June 30 Branches: 5/11 fee Amendment to by-laws of, allowing directors .40 ed pprov ngs,a meeti ttee commi for attending executive Directors: See under heading "Directors" Discount Rates: See under heading "Discount Rates" r from Discount situation in Twelfth District; lette 6/9 zing, FRAgent Perrin analy d for perio , annum per of 6% rate at Dividend approved 6/24 Jan. 1 - June 30 • 5/5 in, ase Fees paid directors of branches; suggested incre naForm of verification of loans and discounts in exami ved 3/12 tion of certain member banks, submitted and appro conin Fuerst, Arthur W., notice of apprehension of, 3/31 nection with shortage in Coupon Dept. Interlocking directorates in District: 1/28 nt Investigation, continuing of; letter from FRAge and re, ion Mr. Perrin instructed to make investigat 1/13 ' report 1/9 nt FRAge Policy re review of; telegram from of, 1/2. Suggestion from FRAgent for sweeping cancellation 4/24 on, Japanese financial situation; report 6/16 all, for sted Loans and rediscounts; rate of 0 reque 2/6 nt FRAge from upon, Organization of; suggestions bearing Asst. from ram teleg Overdraft in Treasurer's account; 4/2 probable,of date Secretary Leffingv.rell to Bank re http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 255 345 321 38 434 45 47 15 564 447 532 571 432 267-68 324-25 111 45 27 2 407 549 151 335 F. R. Bank of San Francisco: (continued) Perrin, John, FRAgent; authorized to take vacation during months of February and March 1/5 Cuarters: Bids for steel mark on new bank building; lette r re, 4/21 Board's approval requested, to proceed with erection of new bank building 4/28 Construction of new bank building at once, authorized 5/25 Delivery of sub-treasury building to bank as affecting immediate erection of new bank building, to be considered at next meeting of directors 5/1 Request from Bank for no further delay in constructi on of nea bank building 5/13 Steel construction work for new bank building; explanation from FaAgent re recommendation for adopt ion of next lowest bid for, 4/5 Steel contract for new bank building; communication from Agent re, 2/3 Steel contract for new bank building; recommenda tion of Bank for approval of estimate of American Bridge Co. 4/1 Steel contract for new bank building; telegram from Board to Bank re letting of, 4/8 Structural steel for use in new bank building; letter from Gov. Calkins re placing of order for, 2/11 Rediscount procedure in practice at; memo. of Lir. Hoxton commenting upon suggestion from RAgent for change in,2/9 Board favorable to suggestion for perfecting rediscount organization of Bank 2/9 Rediscounting of paper; letter from FRAgent Perrin raising certain questions in re; ref. to General Counsel 1/20 Rediscounts: See under heading "Rediscounts" Salaries: Adjustments in, of enployees of RAgent's Dept. 6/29 Perrin, John, FRAgent, salary approved at 424,0 00 per annum 1/5 Reed, Jay L., salary at 03,300 per annum as Acting Assistant Cashier 6/29 Sawyer, T. B., salary increased 5/5 Scandinavian-American Bank of Seattle: Payment of first 0350,000 into funds of; advice re, 1/7 Shortage in Coupon Department; apprehension of Asst. Teller Fuerst in connection with, 3/31 Staff of, Ammerman, Louis Bentley, appointment as head of Purchasing & Supply Depts. 5/19 Denny, J. U., appointed Acting Examiner to assist in examination of Bank of Italy 2/3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis LI= Page 1'. R. Bank of San Francisco: (continued) Staff of, (continued) 3/16 Denny, J. 2d., appointment as Acting Examiner 4/14 Examiner Denny, J. M., appointnent as Elliott, Edward, approval of continuation in State bank membership campaign work, at present compen4/15 sation, until July 1st. of months during Perrin, John, RAgent, vacation 1/5 February and March, approved Cashier, Asst. Acting as t Reed, Jay L., appointmen 6/29 effective June 1st. 1/13 Gov. Deputy Asst. as t appointmen Stewart, C. H., P. R. Banks: Assessment for expenses of FRBoard for six month period ending June 30th., accounting procedure of FRBanks 5/13 re; reply of Gov. Harding to FRAgent Jay Assessment of, for expenses of FRBoard for period 6/15 July - December, 1920 FRBank Basis of participation by, under agreement of of New York: with Bank of Japan, submitted by New York 5/5 and agreeable to Board 5/13 approved Amendment of above arrangement Capital stock, reduction in, of a MBank; opinion of Counsel requested whether, in case of, its general 6/9 surplus of 1005; should be reduced proportionately from letter 1920; 30, Closing of books of, as of June Board to Chairmen of FRBanks re course to be pursued 6/9 in holdre views Board's of; tives Conference of representa ing of,to discuss personnel and welfare questions, requested by Organization Counsel of FRBank of 3/2 New York of figures showing separate of; accounts expense Current re cost of F. R. notes in, recommended. by FRAgeat 4/12 Curtiss Discount Rates: 4/15 Telegram from Board to Govs. of all RBanks re, banks; Earnings, suggested distribution of, among member 4/24 letter from Gov. Harding to RAgent McCord re, Copies of above letter ordered furnished member 4/29 banks in Sixth District Franchise tax paid by; method of disposition by Govt. of, suggested by RAgent Perrin, together withneno. 4/24 by General Counsel notes Gov. authorized to notify, not to accept collateral for rediscount from other FRBanks unless secured by 6/15 collateral of 100A market value five which in paper other Holdings by, of acceptances and largest packing houses in U. S. are interested; report 3/20 to be requested re, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 276 379 382 7-8 578 47 451 542-43 435-36 450 532 532 227 371 385-86 407 420 405 543 287 par P. R. Banks: (continued) Letters from Board to, re Charges covering shipments of gold coin from Denver Mint to U. S. Sub-Treasury at San Francisco,calling for reimbursement of Board 3/13 Discontinuing weekly reports on discount rates where no changes are contemplated 3/4 Discount rates 5/29 Interest charge an F. R. notes not covered by gold certificates or gold coin deposited with FRAgent; Gov. authorized to submit for approval 6/10 Recommendations made at Governors' conference April 710, containing comments by Board on, 6/4 Reserves, deficiencies in; establishment of graduated tax an, 4/2 Schedule of acceptances held by FR.Banks of each of five leading meat packing houses in U. S., requesting in detail 3/23 Letter approved 3/2.5 Liability of, in cashing Govt. checks over their counters; letter from Deputy Gov. at Richmond re, and reply of Gov. Harding 3/9 Memo. of Asst. Secretary suggesting advising, that no longer necessary to withhold silver certificates and standard, silver dollars from circulation 5/19 Method of making public reserve percentages of; memo. of Statistician and Assistant Secretary re, 6/24 Figures srzwing combined reserve against note and deposit liabilities of each FRBank ordered published in weekly statement of condition of iRBanks 6/24 Pension plan for employees of, outlined in letter from Mr. Kenzel; memo. of Mr. Hoxton re, 2/20 Pension plan for employees of; report by Mr. Hoxton on, 3/9 Purchases by, of bankers' acceptances from member banks; advice from Board re, 3/9 Salaries paid by, to employees receiving ::)5,000 per annum, or less; progress report on investigation into,submitted by Director, Div. Analysis & Research 1/6 Telegram from Board to, re Agreement by Treasury to extend total of standard silver dollars it will deliver against current fluids of the three American banks with branches in Orient 2/2 Deferring of adoption of new method of determining reserves until March 1st. 2/4 Increasing state bank memberships, explaining Lir. Lloehlenpah's letter of February 27th. 2/28 New Treasury certificates, asking liberal subscription to, 1/7 War paper holdings of; memo. of Er. Jacobson analyzing, 1/6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 235 635-51 6gz 334 g9s 305 2,61j. 410 667 667 194 Page F. IL Board: 4/6 By-laws; revision of, Expenses of, Accounting procedure of aBanks in re assessment for, for six months ending June 30th.; letter of reply 5/13 from Gov. Harding to RI-Agent Jç1 r, 6/15 July Dec. period for for, Assessment of iRBanks Members of, Circulating of correspondence of, in executive folder; 6/1 attention called by Mr. Miller to neglect of, of, Meetings Gov. Miller of Kansas City, hr. Trowbridge, and • representatives of Bank's architects; attendance 4/6 of, at meeting of Board To be held on Tuesday, Wednesday, and Thursday of each 6/3 week after Juno 8th., until further notice Officers and Chiefs of Divisions; motion by Er. Miller that Board furnish, with suitable certificates of 5/10 office Offices of, to be closed at 1 P. M. on all Saturdays 6/10 during period Juno 15 - Sept. 15, 1920 Organization chart affecting staff of, (See auldliary 4/12 minute book of date) Organization of; certain modifications affecting, made 3/30 special order of business for April 6th. Propriety of, making statement in answer to suggestion re embargo on gold exported from the U. S.,discussed 3/2 'uarters.: Procuring of permanent, outside of Treasury building; 4/13 authority to be reluested of Congress re, designated Secretary of Treasury and Gov. Harding 4/13 to secure suitable action by Congress re above Reply to Senate Resolution 328: (See "Board's reply to Senate Resolution 328") Salaries: Adjustments in, effective July 1st.; recommendations 6/29 re, referred to committee by requested papers, Statement by, in re accumulation of Secretary of Treasury for submission to Congress in support of appropriation for National Archives Bldg. 3/25 P. R. Bulletin: Limiting size or circulation of, to conserve print paper; 6/22 letter from Dr. Willis re, obtained far thus Publication in, authorized, of figures in investigation of changes in volume of retail trade 1/2 Publication of, in two sections, recommended. by Dr.Willis, 6/29 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 317-353 451 542-43 510 354 516 443 536 367 323 230 375 375 578 304-5 560 6 576-79 page F. R. Bulletin: (continued) Publication of resolutions of personal character in, prohibited, except in event of death of member 3/30 Refusal of re,:uest of ER3ank of New York to subscribe for 75 to 100 additional copies of, 2/24 Report of Bulletin Committee recommending that publication of, be continued on monthly basis 3/16 Statement to effect that Bulletin is only official organ of Board, agreed to have appear in conspicuous place in Bulletin hereafter 2/11 Suggestion of Governor for making, bi-monthly publication 3/11 Federal Reserve Club of 2.R. Bank of Chicago: Appropriation of 38,000 for use by, in connection with educational work for 1920 3/23 Federal Reserve Club for F. R. Bank of New York: Approval of appropriation of 416,500 to defray expenses of, for remainder of year, requested 6/1 Federal Reserve Corporation: Contemplated organization of corporation to be knaan as, by Federal Trust Co. of Atlanta; advice from. Deputy Gov. Adelson re, 5/19 Federal Reserve Currency: Issue and redemption of; report of committee appointed at conference of Governors of FRBanks April 7 - 10, 1920, to study 6/29 Federal Reserve Districts: Second: Liquidat ion which has t _Lken place in; stat ement bearlug upon,submitted by .Acting Gov. Case of N. Y. 2/25 Fifth: Policy to be pursued in admitting to membership small State institutions in; communication from RAgent Hardy re, 2/19 F. R. Notes: accumulation of notes of FitBank of Boston in denomin ation of Q1,000, in hands of FRAgent Curtiss; advice re, 4/12 Control of issue of; memorandums of 11r. Strauss and Lioehlenpah giving views as to methods 3/1 Erroneous shipment of, by Post Office Dept.,to Havana, instead of to Jacksonville Branch; report from Atlanta re, 5/5 In actual circulation Sept. 5, 1919 and June 4, 1920; statement showing, with increase 6/8 Increased. demand for, in First District; letter from FRAgent Curtiss in response to Board's reuuest for explanation re, 2/24 Note situation and credit conditions in Ninth District; letter from 1RAgent Rich submitting analysis of, 1/7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 321 264 161 410 19z 31 22 Page F. R. Notes; (continued) Separate showing of figures re cost of, from other items, in current expense accounts of FRBanks, recommended by 4/12 FRAgent Curtiss Unusual demand for currency evidenced by increasing issues of; telegram from Board to RAgents re, asking cause 2/18 F. R. System: vuestions of practice and policy of; reply of Gov.Harding 4/30 to letter from N. J. Upham of Duluth, ninn. re, Use of, by eligible non-member banks; memo. of Mr. Moehlenpah submitting synopsis of replies to Board's 2/11 letter of Jun. 12th. in re, Federal Tax aa Railroad & Pullman Tickets: Form for exempting officers and employees of FRBanks from, when traveling on official business, submitted by Asst. Counsel, tooather with circular to FRAgents 6/29 Federal Trust Co. of Atlanta, Ga. Contemplated organization by, of corporation to be known as Federal Reserve Corporation; advice from Atlanta 5/19 Fiduciary Powers: American Exchange National Bank, Dallas, Texas; letter to FRAgent Ramsey in re condition imposed upon exercise 1/30 of fiduciary powers Applications for, 3/9 Commercial National Bank, 77ashington, D. C. 3/25 Application approved Applications for, held 5/19 First National Bank, Waterloo, Iowa 5/13 Oklahoma Shawnee, Commerce, of Bank National 5/14 Union National Bank, Muskegon, Michigan reconsideration Alabama; Athens, of Bank National First by Board of action approving application to serve as trustee for Fulton Cotton Mills, and granting of 2/2 general trustee powers Fifth-Third National Bank of Cincinnati, Ohio: Affiliation between, and Union Savings Bank & Trust Co. 4/8 of Cincinnati; further information re, Board agrees to approve joint directorships in above 4/e institutions upon application Common directors of, and Union Savings Bank & Trust Co. of Cincinnati; memo. of Mr. Wyatt re applications 4/5 of, under Clayton Act Financial & Business Conditions in Second District: 5/19 Report re, from FRAgent Jay Financing Cuban Sugar Planters during "Dead Season"; Statement re plan for, by issuance of three month acceptances, prepared by Asst. Counsel; not considered 6/30 eligible by Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 371 183 422 164 579-80 470 121 25I 301 468 451 455-56 130 362-63 363 343 465 581 Page Financing Farmers Carrying "Stock Cattle": Draft of letter in re, submitted by Mr. Moehlaapah, for sending FRBanks; action re, 5/28 First-Bridgeport National Bank, Bridgeport, Conn. Purchase by, of shares of First Federal Foreign Banking Association, approved 4/17 First Federal Credit Bank: Application for organization of, under Section 25 (a) of P. R. Act; memo. re, 1/22 Articles of incorporation, application for approval; Board approved conditionally, augr_psting changing name to First Federal Foreiga Banking Association 4/8 Fir3t Federal Foreign Banking Association: Advice from President of, that Association is now open for business 6/23 Articles of association and organization certificate of, with form of preliminary permit authorizing corporation to commence business, approved 4/17 Certificate granted by Board authorizing olmmencement by, of business of international and foreign banking 6/15 Permission granted Norunn P. Clement to serve as director of, 4/17 Purchase of shares of, by First-Bridgeport National Ban), Bridoeport, Conn. 4/17 Request from President of, that construction be placed upon agreement of, with Board 6/22 Draft of reply approval 6/22 Suggestion of Board that name of First Federal Credit Bank be changed to, 4/8 First National Bank, Athens, Alabama: Reconsideration by Board of action approving application of, to serve as trustee for Fulton Cotton Mills, and granting of general trustee pagers 9/9 First National Bank, Denver, Colorado: Directors of, permitted to become directors of International Trust Co., also of Denver 4/2 First National Bank, Nashville, Tenn. Letter from President Caldwell of, re FRBank discount iates and general discount program of FRSystam 4/5 National First Bank, Newwan, Cal. Failure of, reported by Comptroller 2/17 Liabilities of, to FRBank of an Francisco, with statement showing some covered with apparent margin of 21,000 2/3 First National Bank of Boston: Recommendation from Vice-President Spencer of, for discontinuance of reports by RBanks to Board, showing kind of commodity back of loann 4/28 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 491 395 se 361 565 390 546A 39 396 66° 56° 561 150 354 416 Page First National Bank of Commerce, Texas: Application for reduction in capital stock; memo. of 2/20 Comptroller recommending approval of, Fairfield, of Idaho: Bank First National 6/29 Suspension of; advice re, Pitcher, Bank, Oklahoma: First National Suspension of; letter from Gov. Miller of Kansas City re, requesting advice re sale of bonds held by MBank, 1/20 to liquidate indebtedness First National Bank, Waterloo, Iowa: Application for fiduciary powers held, pending report of 5/19 next exnmination First State Bank, Bay City, Texas: 5/15 Application of, for admission to System; referred First State Bank, Copperas Cove, Texas: Required to file new application for stock in MBank in 5/5 connection with application for membership First State Bank, Idabel, Oklahoma: Increase in capital necessary before eligible for member4/21 ship First State Bank of Garfield, Garfield, Washington: 4/5 Application for admission to RSystem First State Bank, Rice, Texas: Application for membership referred back to Board of 3/9 Directors of MBank of Dallas for report First State Bank, Robstown, Texas: 5/15 Application for admission to System; referred Fiscal Agent: Blank checks placed in custody of, to be written and 4/1 issued from his office Foreign Banking Corporations: F. R. Bank of New York authorized to wire Shanghai daily silver quotations for use of certain, doing business 4/5 under agreement with FRBoard of examination re Recommendations of Ur. Paddock in 3/26 certain, to of silver dollars shipment Settlement covering first Orient from the three corporations having agreement 3/24 with Board; notice re, Foreign Banks: Status of certain; letter from Alonzo Tweedale, Treasurer 1/28 of U. S. Shipping Board, requesting advice as to, Advisory Federal Council: Forgan, J. B., President Article by, entitled "Prices and Banking Policy", read before American Economic Association, forwarded Board; 1/2 ordered mimeographed and copies sent RBanks recommendations re in from, Reply of Gov. Harding to letter 1/23 made by Council at last meeting http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 194 575 71-72 468 463 432 401 344 254-55 463 329 341-42 308 296 112 5 92 LMVI Page Forms: F. R. Bank of San Francisco: For verification of loans and discounts in elrnmination of certain member banks, approved 3/12 Forney State Bank, Forney, Texas: Application for admission to System; referred 5/15 Franchise tax paid by RBanks; method of disposition by Govt. of, sugoasted by RAgent Perrin , together with memo. by Counsel 4/24 Frelinghuysen (Senator): Board's views requested by, upon Senate Bill 4119 providing for refunding of national debt 4/7 French-American Banking Corporation: Amendment of agreement with Board in re capital & surplus1/12 Fulton Cotton Mills: Reconsideration by Board of action approving application of First National Bank of Athens, Alabama, to serve as trustee for, and granting to bank general trustee powers 2/2 Fulton Superior Court: Restraining order of, issued to MBank of Atlanta in re collection of checks; telegram from Bank re; reply authorized by Board 1/15 Modification of above order; advice re, from Counsel Randolph of MBank of Atlanta 1/17 261-61 465 405 569 43. 61 66 11G11 George, Harold L. Salary for, approved at 32,500 per annum, as Secretary to Comptroller of Currency 6/30 Georgia: Revised banking laws for State sugsested by Country Bankers' Association, submitted by RAgent McCord 6/30 Reply of Governor 6/30 Georgia Country Banks: Injunction suit of, against FRBank of Atlanta re par collections; notice that opinion has been rendered in, dismissing bill of complaint 4/5 Georgia State Bureau of Markets: Letter from Director of, re recommended preferential rate an paper secured by receipts for goods stored in special warehouses 1/2 Gerard, James W.,President,•Cinao Minas Co., N. Y. City: Protest against shipment of silver dollars by Treasury to Orient, claiming hardship on American companies producing silver 1/9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 664 661 561 4 Page ,German Billion Dollar Credit: Copy of H. R. Bill 13090 providing for, forwarded by 3/29 Hon. James A. O'Gorman German Gold: Earinarked with Bank of England for account of FRBanks; 5/25 practice of FRBank of New York re sale of, MBank of N. Y.; by Corporation Grain Purchased from U. S. statement by Gov. that corporation desires settlement 3/11 Proposed basis for settlement, submitted by FRBank 3/12 of New York of Treasury: Secretary Carter, Glass, (Hon.) Report of committee appointed to draft resolutions re 2/17 retirement from Board of, Resolution adopted by Board upon retirement of, as Secretary of Treasury and ex officio Chairman of 2/18 Board • Gold: Argentine gold export movement for 1919-1920; report re, and request for Board's views re RBank of New York undertaking certain transactions involving shipment 3/2 of cold from London to New York Deposits of, for capital and reserve, by State banks 1/21 entering System; telegram from FRAgent Heath Earmarking of, for Directie der Javasche Bank, by 6/8 FRBank of New York Imports and exports of the United States; figures of Board's Statistical Division showing, for period 1/2 Jan. 1 - Dec. 20, 1919,ordered made public Exports: Embargo on, from the United States; propriety of Board making statement in answer to suggestion re,dis3/2 cussed Trust Co. Colony Old Letter from Philip Stockton of of Boston giving reasons in re desirability of 2/19 placing embargo on, on; embargo re bankers ive Views of certain representat 2/20 letter from Hr. Xenzel stating, to 3/9 N. Y. Strauss las. from letter Gold market, U. S. as; House of Rep. Bill 13201 providing subsidy upon gold production; request from Chairman of Banking and 4/12 Currency Committee as to Board's views re, 4/12 Reply of Gov. Harding Gold Bonds: Argentine25,000,000 five year 65 Treasury, due May 15, 1920, sold in N. Y. market by syndicate; request from Deputy Gov. Case whether should be paid off at 2/28 maturity http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 316 482 260 269 178 185 224 76 528 4 230 191 197 249 367 367 221 Gold Coin: Charges covering shipments from Denver Mint to U. S. sub-treasury at San Francisco; form of letter calling for reimbursement of Board by FRBanks 3/13 Gold Settlement Plan: Proposed settlement between FRBanks as of same day; memo. rson with draft of letter to Banks re; of Mr. effective at discretion of Governor 2/2 Goldenweiser, A. E., Asst. Statistician, F. R. Board: Delegated to assist President of Coal Commission, for temporary period 1/10 Designated to represent Board at informal conference to be called by U. S. Bituminous Coal Commission 5/27 Goveriarent Checks: Liability of aBanks in cashing, over their counters; letter from Deputy Gov. of FRBank of Richmond re, with reply of Gov. Harding 3/9 Governors, F. R. Banks: Conference of, See under"Conference of Governors, F. R. Banks" Letter from Board to, containing comments on recommendations made by Govs. at conference with Board April 7-10 6/4 Letter from Board to, re discount rates 5/29 Graduated Fazess Charge: Memo. of Counsel in re Gov. Miller's suggestion that Board approve plan whereby FRBanks may impose, against member banks applying for rediscounts in excess of capital and surplus 1/12 Ordered docketed for Jan. 15th. 1/13 General Counsel to obtain opinion of Consulting Counsel and report if similar action ever taken by Board 1/15 Gravois Bank of St. Louis Co., Mo. Application of, for admission to System; certain loans as affecting, 3/30 Guaranty Trust Co. of New York: Application of, to transfer to Banque Suisse, Zurich, sum of 044,000 under instructions from C. O. Ovcharov, Petrograd; advice re lifting of prohibition notice re, by Division of Foreign Exchange 1/9 Inquiry from Yr. Williams as to whether reply had been received from MBank of New York re statement of condition of, as of Dec. 31, 1919 2/3 Vice-Gov. reyorted no reply 2/4 Assistant Secletary reported no reply 2/5 Report forwarded by FRAgent Jay 2/6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 211 3.31 36-0 490 505 66 14v, 3.0 Pace Guaranty Trust Co. of New York: (continued) Rediscounts for, reported by MBank of New York Report of condition, as at close of business Dec. 31, 1919; memo. commenting upon, Guardian Savings & Trust Co., Cleveland, Ohio: Application of, to establish branch at Rocky River, Ohio, approved 4/28 415 1/30 121 1/8 24 nips Hamlin, C. S., Member, F. R. Board: Appointment as member ad interim of Executive Committee, 4/5 pending appointment of Vice-Gov. of Board t contrac re Palmer '4, Bradley with nce Statement re confere ng obtaini s companie d railroa by into to be entered 4/7 Government aid. R. Board: F. Harding, W. P. G., Gov., Authorized to engage male stenographer qualified to act as substitute secretary to members of Board, at 1/29 2,000 per annum vault d propose g coverin t contrac sign Authorized to construction tests, when advised by Counsel that same 2/3 is in proper form , Georgia of Upshaa ntative Represe and , between Conversation 2/2 of, memo. checks; of on collecti re par Draft of reply to Senate Resolution 328 re rates on call 3/26 loans in commercial centers of FRBank of nces accepta a sreaima of by, tian Exaxdna New York, stating same constitute prime bills of 1/10 liquid nature Pa.; Invitation to address Bankers' Club of Pittsburgh, 1/28 matter of acceptance left to Governor Invitation to address meting of American Cotton Asso. 2/2 at Montgom3ry, Alabama, in March Act to nt Letter to RAgent M2Cord re suggested amenime 4/24 re distribution of earnings of RBanks ed member Copies of above letter ordered furnish 4/29 banks in Sixth District to bank limited Personal letter from, re establishment of lending money for growing and marketing cotton and other agricultural produats; desire of Gov. Dorsey 1/10 of Georgia to make public practice of s Reply to letter from N. J. Upham, re question 4/30 and policy of FRSystem ing request Platt Reply to letter from Representative 3/9 comments by Board on "'lc:Fadden Bill" http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 343 356 120 133 126 307 31 113-14 127 407 420 34 422 252 XC Harding, W. P. G., Gov., F. H. Board: (continued) Report re visit to F. R. Bank of New York, Feb. 27th. 2/28 Report re visit to Pittsburgh, and assurance given that banks there would adopt, in future, par collectiaa of checks 4/24 Statement re observations made upon recent visit to FRBank of New York 2/6 Statement re purpose of Boston and New York to vary rates on acceptances from time to time to determine rates creating demand for acceptances 1/10 Statement re recent visit to New York in connection with acceptance market 4/2 Harrison, George L., General Counsel: Resignation submitted ana accepted 5/27 Hawaii: National banks in; opinion of General Counsel re authority of RBoard to grant fiduciary powers to, under provisions of Section 11 (k) 2/6 Hearings, F. R. Board: Complainants against MBank of Kansas City in re par clearing cammiga, to be notified that Board will grant them hearing but will not receive depositions 4/6 Granted to, Committee of FRBank of Kansas City, on April 3rd., in re bid for construction of new bank building 3/24 Hearing postponed until April 6th. 3/29 Nebraska bankers, April 28th. and 29th., on par clearing question 3/24 Texas bankers; request for hearing to protest against method of calculating reserves to become effective Feb. 12th. 1/29 House Banking & Currency Committee: Bill providing for abolition of sub-treasuries submitted by Chairman of, for comment by Board 2/6 Board's proposed letter to, in re par collection system; certain chansles in, suggested by Deputy Gov. Peple of Richmend 3/24 House Representatives Bill No. 13090: Copy of, providing for so-called Germn billion dollar credit, forwarded by Hon. James A. O'Gorman 3/29 House Representatives Bill No. 13201: Providing subsidy upon gold production; request from Chairman of Banking & Currency Committee as to Board's views re, 4/12 Reply of Governor 4/12 Houston, David F., Secretary of the Treasury: 6ee under "Secretary of the Treasury" http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Paige Hoxton, W. W., Executive Secretary, F. R. Board: Authorized to visit FRBank of Dallas for purpose of 2/19 investigating rumors of unsatisfactory conditions Kansas and Authorized to visit FRBanks of St. Louis 5/10 City Designated to act an behalf of Board in cooperation 3/6 with committee on revision of currency designs rephouse Instructed to attend conference of clearing 1/17 resentatives in Chicago on Jan. 23rd. Memorandums of, re 2/17 Pension plan for employees of FRBanks division with J., in U. Shaving number of non-par banks 5/11 by PRDistricts and States in law State York New by Stringent regulations imposed re establishment of branches of State banks, suggesting, in view of same, Board waive condition of 2/3 admission No. 2 schedule time District Reserve al Submitting Inter-Feder for approval, with letter for forwarding Governors 2/24 of FRBanks Dept., of Auditing employees for Suggested increases and of plan of compensation, submitted. by PRBank 6/22 of New York, recommending approval banking study to Orleans New and To visit Atlanta 6/2 situations at these points of results ascertain to City Kansas of To visit MBank 5/10 adoption and application of graduated rate plan discount on report and Richmond of FRBank To visit 6/15 situation there Co., Chicago: Trust & Loan LIerchants, President D., Hulbert, E. Letter from Gov. to, re application of John ilitchell to 4/27 serve as director of three banks 191-92 442 244 65 177 446 132 198 561 514 443 543 410 nu Immediate credit symbol used by banks in Fifth District, refusal of certain New York banks to recognize; correspondence re, forwarded by Deputy Gov. Peple Importation of Sugar from Cuba: Acceptances drawn against; letter from Mercantile Bank of the Americas re, Opinion of Counsel that drafts referred to above, are eligible for acceptance Imports and Exports: Gold and silver; Gov. authorized to make public figures showing, for period Jan.1- Dec. 20, 1919 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/24 100 2/9 156-57 2/9 157 1/2 4 page Indiana National Bank, Indianapolis, Indiana: Request from, that FRBank of Chicago accept drafts on Indianapolis correspondent of Indiana bankers in payment for remittances 2/26 Industrial Bank of New York City: Application of, for admission to FRSystem 2/24 Insurance: See also"Federal Reserve Bank Insurance" Inter-District Collect ion System: See"Par Collection of Checks" Inter-Federal Reserve District Time Schedule: Lem°. of :Ir. Hoxtan submitting for approval, with letter for forwarding Gov ernors of FRBanks 2/24 Interest: Governor authorized to submit for approval, letter to RaBanks re interest charge on F. R. notes not covered by gold certificates or gold coin deposited with .ERAgent 6/10 Payment of, an reserve balances of member banks held by reserve banks; letter from FRAgent Curtiss re, 1/2 Computations bearing an above, from Lir. Curtiss 1/28 Rates paid an deposits; compilation of infarmation showing practice in various sub-centers in each district re, for use at conference of clearing house representatives at Chicago, approved 1/17 Interlocking Directorates: Applications approved: Abbott, George E. 5/11 Ailes, John W., to serve as director of Ilonongahela National Bank of Pittsburgh, Pa., and two other banks 3/20 Alexander, H. F. 1/28 Alford, S. A. 3/3 Andrews, Avery Delano 1/27 Avenali, E. 2/26 Ayer, Nathaniel F. 2/17 Bagley, Henry C. 4/27 Baltz, Arthur W. 3/20 Bandi, J. A. 3/17 Beals, David. T. 5/25 Berry, J. 11. 3/24 Bigelow, Charles A. 6/9 Bize, Louis A. 1/12 Bradley, P. W., reconsideration and approval of application recommended; approved, pending final decision after report from Ur. Perrin 2/17 Brady, Nicholas F. 5/28 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 215 go3 196 6g-6 66 441 286 0! 107 2,11 160 411 2,66 219 494 491 Page Interlocking Directorates: (continued) Applications approved: 5/5 Brocklehurst, Harry 2/3 Brawn, W. E. 6/9 Bull, Benjamin S. 4/13 Bullard, W. Irving 4/24 Burger, J. C. 4/24 Carter, S. L. 5/1 G. L:alcolm Chace, 1/14 Chalkley, H. G. 3/24 Chancellor, T. A. 3/29 Chapman., P. T. 1/22 Cheney, Orion H. 3/12 Chatham, H. A. 4/13 Clark, B. P. 4/28 Clark, O. II. Clement, Norman P., President Citizens Commercial Trust Co., Buffalo, N. Y., granted permission to serve as director of First Federal Foreign BanKing 4/17 Association 4/21 Cosgrove, John O. 1/14 Courtney, G. A. 4/28 Oragin, J. A. 3/24 Orosbie, J. H. 5/25 Daly, Thomas 3/4 Dantzler, A. P. 5/28 Davis, E. A. 4/24 De Vilbiss, Thomas A. 3/9 Easterwood, *J. E. 4/6 Eberhard, Frederick N. 1/6 Eldridge, Edric 5/29 Endicott, H. Wendell 4/21 Finsthwait, Frank 2/26 Freudenthal, 5/14 Fullerton, William J. 1/6 Gamble, William Gillespie, Robert E. 3/20 1/14 Gonser, John Ii. Gordon, Henrzr J. 4/6 2/28 Grasselli, E. R. Hatt, J. William 2/3 Hazzard, E. N. 1/14 Heisig, P. A, 6/24 Hillman, J. H. 6/16 Hitner, Joseph G. 5/5 roag, H. H. 1/14 2/4 Hughes, Frank :.:. rulton, James, Sr. 5/5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 433 136 533 377 406 406 428 50 297 317 86 269 376 417 393 401 50 417 298 484 237 496 406 256 354 16 504 401 210 456 16 256 49 354 221 135 50 568 549 433 50 140 433 Pg Interlocking Directorates: (continued) Applications approved: Jackson, L. B. Jagels, C. H. C. Johnson, F. F. Johnson, H. 1.1. Knapp, S. Arthur Kommer, William Laughlin, P. E. Lloyd, P. H. Low, M. A. Lucas, Cyrus B. Lynd, Stoughton B., conditional approval Lynd, Stoughton B. EcCornack, J. K. Ma=llan, James T., application to serve as director of First & Old Detroit National Bank, Detroit - Savings Bank, & Union Trust Co.,all of Detroit Memo. of Mr. Wyatt re, Letter from Representative Doren= re, Application approved MacNeill, Charles Mack, E. :I. Malone, E. R. "Manning, P. J. Marble, A. H. Meade, J. F. Moeling, W. G. Moore, John M. .Murchison, F. 1.1. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Peek, W. il. 2/17 2/19 5/11 3/17 1/14 5/5 5/6 1/8 2/3 5/28 2/11 4/6 6/29 1/16 1/20 1/26 3/20 4/21 3/3 3/9 2/4 6/15 1/14 6/29 6/2 5/1 Pittet, Felix C. 5A4 Powell, R. S. 5/14 Preston, Homer M. 4/26 Rex, John B. S. 5/5 Rhoads, Charles J., application approved, subject to reversal in case of change in conditions 2/11 Roberts, Frank 1/14 Sahmidlapp, Carl J. 2/11 Shoup, Oliver H. 3/3 Solomon, Charles F. 3/9 Swift, Edward F. 5/14 Taylor, Greer M. 3/9 Terbell, Allen N. 2/19 Thaw, Benjamin 6/16 Thayer, Eugene V. R., application approved, subject to revocation upon review of situation in New York 4/12 Thayer, John E., Jr. 4/15 160 169 466 276 51 435 436 135 491 161 354 511 61 71 VG 265 401 0 256 10 0 50 671 53 4P 466 456 409 4P 161 50, 1641 2P 266 456 266 189 549 30 30 XLV Page Interlocking Directorates: (continued) Applications approved: 3/24 73. K. Thurmond,, 6/8 Thurmond, I. C. 2/3 Timpson, James 6/24 • Tyrell, W. C. 2/11 Waldorf, Michael W. 4/27 aately, J. P. 2/4 White, T;illard C. 2/17 Whitin, James E. to approved,subject application Wiggin, Albert H., cancellation upon review of situation in New York 3/3 Williams, George Weems, application approved, subject 4/24 to revocation 5/25 Wood, Kenneth F. 5/28 Wood, William Li. Applications disapproved:. 2/3 Amick, E4 1 2/6 Blackmar, H. M. 2/11 Bradley, F. W.. 6/29 Chandler, Harry Clayton Act Committee authorized to review situation in each F. R. District re, ana summon FRAgents to 4/12 Washington for consultation Fifth-Third National Bank & Union Savings Bank & Trust Co. of Cincinnati; memo. of Mr. Wyatt re applications 4/5 of common directors Fifth-Third National Bank and Union Savings Bank & Trust Co., of Cincinnati, Ohio; further information re 4/8 affiliation between, in directorships joint Board agrees to approve 4/8 above institutions upon applicatiaa Co., Trust Cleveland Trust & Co., Guardian Savings & directors of, serving at same tine as directors of 2/17 national banks; letter from liRAgent Wills Fifthof directors common other and A., Hinsch, Charles Third National Bank & Union Savings Bank & Trust Co. of Cincinnati; memo. of Mr. Wyatt re applications of, 4/5 International Trust Co. of Denver, Colorado; directors of, permitted to become directors of First National 4/2 Bank, also of Denver Kramer, A. A., application of, to serve as director of 1/16 three banks in Kansas City, Mo.; memo. of Mr. Wyatt Application approved as to Columbia National Bank 1/20 & Union Avenue Bank of Comnerce Mitchell, John; letter from Gov. to President Hulbert of Merchants' Loan & Trust Co. of Chicago re 4/27 application of, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 297 526 135 568 167 411 139-40 180 233 407 464 497 135 152 167 577 371 343 362-63 363 181 343 334 60 73 410 Interlocking Directorates: (continued) New York situation re; RAgent Jay requested to bring data and statistics to Washington in connection with, 4/12 Permissions revoked: Alexander, H. J., to serve as director of First National Bank and International Trust Co., of Denver, Colorado 2/9 Thatcher, R. O., to serve as director of First National Bank & International Trust Co., of Denver, Colo. 2/9 Twelfth F. R. District: Investigation, continuing of; letter from FRAgent Perrin 1/28 Mr. Perrin instructed to make investigation re, and. report 1/13 Policy re review of; telegram from RAgent Perrin 1/9 Suggestion from alAgent Perrin for sweeping cancellation of, 1/2 International Banking Corporat ion: Branches: Barahona, Dominican Republic; notice of opening on April 12th. 4/24 London; advisability of examiner Norris examining this branch while engaged in foreign examinations; Board's views requested re, 4/7 International Banking Corporation of New York: Rynmination of; memo. of Er. Paddock re, 3/26 Request from Vice-President of, th,.t Board authorize inclusion of documentary acceptances by commercial houses for financing imports as liqu.id assets for reserves against acceptances 3/2 Reply of Gov. Harding 3/2 Letter from Gov. Harding to Mr. Kenzel requesting recommendation in premises 3/2 International High Commission: Offer from Secretary General of U. S. Section of, for turning over to Board certain statistical matter on international investment securities, suggesting publishing in Bulletin 6/8 International Shoe Corporation of St. Louis: Copy of form letter used by, in returning checks to customers drawn on banks not on par list 4/2 International Trust Co., of Denver, Colorad o: Directors of, permitted to become directors of First National Bank of Denver 4/2 Irving National Bank: Cancelling of ir3.ft by, drawn by Bondernes Bank of Christiania to order of Santeri Nuortava, approved 5/25 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis nip Page Jacobson, Morris L., Statistician: Memorandums of, re 4/27 Disposal of old tabulation cards war S. of U. holdings classified Statements showing obligations and war paper of reporting member banks, 3/31 recommending same be discontinued 1/6 analyzing FRBankx, of War paper holdings Japanese Financial Situation: 4/24 Report on, submitted by FRAgent Perrin 410 325 13 407 IIKII Kansas City Livestock Association: Financial situation as affecting livestock industry; letters re, Kansas City Live stock Exchange: Protest from, to Secretary Glass, against increase in discount rates, claiming discrimination against livestock and cattle interests Above communication referred to Gov. for report Review of situation of cattle growers, suggesting relief through lower discount rates, from President of Exchange Kansas Reserve State Bank, Topeka, Kansas: Notice of intention to withdraw from System; memo. of Mr. Imlay with letter from RAgent at Kansas City advising of, Kies, W. J., of Aldred & Co., New York City: Memo. suggesting partial tax exemption on securities issued by corporations organized under Edge Bill 5/5 431 1/6 1/10 12-13 33 4/21 399 1/23 93 1/29 118 ULU Lavatory: Installation of, in Room 396, approved, at estimated 1/2 expenditure of ,S1.54.50 Law Committee: Report of, recommending adoption of general condition to be imposed upon membership in System of State banks 2/19 possessing extraordinary powers of Bank Chicago: F. of H. Leased Wire Committee Recommendation of, that FRBoard act as custodian of copies of code books to be formulated by sub-committee 2/17 on codes 2/17 approved Harding, Gov. of Reply http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 188 179 179 page Leased Wire System; Allocation of expense in operation of; letter from Chicago re, and memo. thereon, by Counsel 5/11 Cutting of present New York-Chicago duplex wire and relaying all business in Washington office,authori zed 3/11 Increase by lo0 in rental charged RRSystem for, by American Telephone & Telegraph Co.; advice from Gov. McDougal 3/9 Installation of additional telegraphic circuit between Washington, Philadelphia, and New York office, approved 2/20 Plan for handling expenses in operation of main lines; letter from Gov. Harding to Gov. McDougal 5/12 Renewal of contract for; statement by Ex. Harrison of interview with General Counsel of Agerican Telephone & Telegraph Co. in re, 3/24 Telegraph operators; Board's six, placed an eight hour basis and salari es increased to ',1165 per aronth 3/11 Brnnuon, W. J., appointment, vice G. H. Wyly 2/3 Clark, W. C., appointed operator in accordance with authority granted Eardh,11th. 4/2 Dunn, A. W., appointrant 2/24 Employment of additional operator, approved 4/28 EM-ployment of additional operator in Washington office, approved 2/20 Employment of two additional operators in Washington office, at 0.50 per month, authorized 3/11 Pool, W. S., appointed operator in accordance with authority granted March 11th. Tanner, J. E., employment from 6 to 8 o'clock each evening at30 per month 2/25 Telegraph service furnished Board at old rates; Gov. authorized to sign contracts for Board 4/30 Lee, Higginson & Co. Statement of financial condition filed by, with RBank of New York, to qualify acceptances as eligible for purchase in open market; advice re, 1/22 Board votes report be made upon nature and form of information given by all such firms,stating whether oral or in writing 1/24 Leffingwell, R. C., Assistant Secretary of Treasu ry: Letters from, re Differences in fiscal agency account of RBank of Cleveland 6/22 Policy of Treasury Dept. in communicating instructions to branches.of F. R. Banks 4/9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 446 262 194 449 a99 261 156 356 20 411 194 26 336 201 40 se 91 56/ 366 Page Leffingwell, R. 0., Assistant Secretary of Treasury: (continued) L:ero. of, suggesting RBanks gather in, and hold,silver 4/7 certificates 4/7 Board's telegram to FR3anks re, discount Present at meeting of Board on Jan. 21st., when rates for Boston, New York and Phila.,were considered 1/21 Request from, that Board appoint vault clerk at Bureau of Engraving & Printing,' as custodian of Federal 2/7 Reserve notes Liabilities: P. R. Bank of New York; publication of contingent liability of, in connection with bills purchased for 3/23 Bank of Japan; mero. of 1.."1r. Emerson re, liabilities California; Newman, Bank, First National of, to FRBank of Sun Francisco, with statement show2/3 ing same covered with apparent margin of ;g1,000 method modify to requested permission deposit; and Note of making public figures showing percentages held by 2/27 FRBank of New York against, Liberty Bonds: Senate Bill 3680 to provide for purchase and redemption of, in denominations of ,)50 and !:)100; memo. of Counsel 2/2 advising of, Subscribers to, living in Cleveland; practice of MBank of Cleveland of forwarding bonds to, by registered 4/30 mail Liberty National Bank, Now York City: Permission requested by, to accept for purpose of 2/27 creating dollar exchange in Brazil; denied Permission to accept, for purpose of creating dollar exchange in Brazil and certain other foreign 5/29 countries, granted Lincoln Trust Co., New York City: Application for authority to accept up to 100;;; action deferred until capital is increased and time afforded 1/30 to determine policy and development of bank Co., Luling, Trust Texas: Lipscomb Bank & Requirement imposed upon, as condition of membership, 5/25 waived Liquidation which has taken place in Second District; statement bearing upon, submitted by Acting Governor 2/25 Case of New York Livestock & Agricultural Interests: Newspaper interview by Gov. Eiller of Kansas City re 6/10 fostering of, Interests: Cattle & Livestock Discrimination against; protest to Secretary Glass from Kansas City Live Stock Exchange claiming,in increased 1/6 discount rates 1/10 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 357-56 356 79 154 293 133 217 130 424 217 504 124 463 206 536 12-13 33 Livestock Industry: Financial situation as affecting; communications from Kansas City Livestock Association re, Livestock Situation in the United States: Review of, by Union Stock Yard and Transit Co. of Chicago, in letter Loans: Morris Bank, Nashville, Tenn.; complaint from, of policy of lending an collateral of Liberty bonds and Victory notes on basis of purchase price, rather than par value, thereof Reply of Governor to above, approved Reduction in, during past three weeks, of member banks with the RBank of Philadelphia; letter from Gov. Norris Refusal of, to employers of union labor, by banks in Tulsa, Oklahoma; complaint from Oklahoma State Federation of Labor to Senator Owen re, Lynch, John A., complaints of, re certain activities of FRBank of Chicago; letter from Gov. McDougal 5/5 6/9 2/6 2/6 5/19 5/27 Hut http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 08 3.48 469 2/26 McDermott, A. MI., resignation as confidential clerk to Chairman of Board 2/6 McFadden and Stegall Bills: Governor to sand ERAgents memo. embodying terms of letter to be sent Chairman of Banking & Currency Committee of House re pending, 3/16 McFadden Bill: Reply of Gov. Harding to letter from Representative Platt requesting comments of Board an, 3/9 McLean, Angus W. Acceptance of appointrent as member of Railway Loan Advisory Committee 5/28 McLean,(Senator) G. P. Request from, for views of Governor and Board re effect of Senator Owen's Bill 3770 for amending ERAct re interest rates charged by member banks 1/23 Mahoney, Thomas F., letter from, to Senator Walsh, alleging purchase price of site for Helena Branch unduly high Mail Transfers: Purchase of, by RBank of Dallas, an New York and other eastern cities; statement of certain bankers in Eleventh District re, reauesting same be not discontinued 431 3/4 3/25 469 3.6$ 316 600 91 CI Page Marine Trust Co., of Buffalo, New York: Condition of membership that Board must approve all 2/3 additional branches established by, removed Jersey: New Princeton, of Co., Matthews Constructiaa Estimate of, for erection of vault testing structure, 1/22 accepted Meat Packing Houses: Bills drawn by certain; attention of FR,Banks to be 3/9 called to, Meetings of F. R. Board: To be held on Tuesday, Wednesday and Thursday of each 6/3 week after June 8th., until further notice Mellon National Bank of Pittsburgh, Pa. Last report of examination, with analysis showing loans 5/19 to officers and directors, submitted by Jomptreller Member Banks: Average monthly number of, havins deficient reserves; table shooing, submitted by Mr. Smead, with amount of penalties and rate charged, ordered furnished 3/2 monthly of 16 Charges imposed by, on customers under Section FRAct; letter from Board to Banks approving, on basis of interest at ei;; per annum far time of item 4 /2 2 in transit Exgrli nati on3 Opinion of Board that under power of bRBanks to make, they possess right to verify loan accounts of 3/12 such banks of cost ERBanks by absorption in Policy to be pursued. of; memo. of Mr. Paddock in re request of RAgent 2/3 Perrin for information re, capital of 10,7; of ezz.ess in drafts accept to of, Right and surplus when secured by wood or wood pulp in 2/26 Canada; letter from E. R. Eenzel re, 2/26 Reply of Governor to above Statement Shooing, whose borrowings from PRBanks were in e.&-cess of capital and surplus, Jan. 31, 1920; attention called to, and statement ordered furnished weekly, 3/18 including item re reserves Member Banks in Federal Reserve Cities: Holdings by, of paper secured by Liberty bonds, Vict'ory notes, and U. J. certificates of indebtedness; Statistical Dept, ordered to furnish weekly statement 3/8 showing, Member Banks of F. R. Bank of Cleveland: Deficiencies in reserves; advice re number of banks assessed penalties for, to from six to fifteen consecu1/15 tive months, requesting increase in penalty rates 1/15 Reply of Gov. ordered sent Govs. of all RBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 132 87 250 516 471 226 199 268 131 215 215 281 248 55 55 CII page Members of F. R. Board: Circulating of correspondence of, in executive folder; attention called by nr. Miller to neglect of, 6/1 Membership in F. R. System: Bank of Hasbrouck Heights, Hasbrouck Heights, N. J.; application for admission approved, subject to filing of corrected application 2/4 British North American Bank, of an Francisco; eligibility for membership of, in view of control by Bank of Montreal; inluiry from San Francisco 6/15 Citizens Bank of Fort Valley, Georgia, application disapproved 4/24 City Trust Co., of Newark, N. J.; memo. of Counsel in re conditions of membership 2/17 Code to be used in advising FRAgents of conditions imposed upon membership of State institutions 2/2 Dunklin County Bank of Maiden, Mo., eligibility for membership; use of 1910 census far estimating population of Malden in determining, 1/14 Farmers Banking & Trust Co., Tarboro, N. C.; application for membership, referred 2/17 Farmers State Bank, Shiro, Texas; application for membership, referred 5/15 Fifth F. R. District: Policy to be pursued in admitting to membership small State institutions in; communication from FRAgent Hardy re, 2/19 First State Bank, Bay City, Texas; application of, referred 5/15 First State Bank, Copperas Cove, Texas, required to file new application for stock in MBank in connection with application for membership 5/5 First State Bank of Garfield, Garfield, 7/ashington, application of, for membership; referred 4/5 First State Bank of Idabel, Oklahoma; increase in capital necessary before eligible for membership 4/21 First State Bank, Rice, Texas; application for membership referred back to Board of Directors of FRBank of Dallas, for resort 3/9 First State Bank, Robstown, Texas; application of, ref. 5/15 Forney State Bank, Forney, Texas; application of, ref. 5/15 Gravois Bank of St. Louis Co., no.; effect of certain loans of, on application for membership 3/30 Industrial Bank of New York City, application far admission to System 2/24 Letter from Mr. Moehlenpah to BRAgents asking views re best method for securing membership of eligible nonmember banks 1/10 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 510 140 541 406 177 129 51 178 465 192 465 432 344 401 zs4 465 465 205 CIII Page Membership in P. R. System: (continued) Letter of appreciation to Superintendent of Banks of Michigan in re his cooperation in increasing, 2/11 suggested by FRAgent Heath 2/11 Gov. authorized to transmit appropriate letter Lipscomb Bank & Trust Co., Luling, Texas; requirement 5/25 imposed upon, as condition of membership, waived Merchants State Bank, Port Arthur, Telms; condition of 6/29 membership waived Mississippi State banks; letter to St. Louis re recent legislation by State of Mississippi providing for 5/19 depositors' guarantee fund upon eligibility of, Southern Exchange Bank, Doublin, Ga., application for membership disapproved owing to insufficiency of 1/12 capital State bank memberships; telegram from Board to FRBanks re increasing, explaining Mr. Loehleapah's letter of 2/28 February 27th. Montana, change in State Bank of Plentywood, Plentywood, condition of membership, making effective date of charge off, collection, or renewal of criticized 3/6 loans, April 1, 1920 telegram System; from FRAgent State banks entering Heath re deposits of gold by, far capital and reserve 1/21 Statej)anks in :...:ontana applying far; change in condi4/12 tion re accumulation of surplus, suggested 4/13 Above approved State banks possessing extraordinary powers; report of Law Committee recommending adoption of general condition 2/19 to be imposed upon membership of, Suspensions: 6/29 First National Bank of Fairfield, Idaho Texas; application Galveston, Texas Bank & Trust Co., approved, subject to certain change in condition of 2/4 admission Texas Bank & Trust Co., Galveston, Texas, conditions of 2/17 membership imposed upon; memo. of Counsel re, Galveston, Texas; expedition in & Trust Co., Texas Bank matter of application requested; Board favorably 1/13 inclined, subject to certain conditions Texas Bank & Trust Co., Galveston, Texas; letter with further reference to conditions of membership of, together with form of advice prepared by General 3/19 Counsel Texas Bank & Trust Co., Galveston, Texas; memo. of Counsel submitting application for membership; 1/22 approved as recommended http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 165-66 166 483 577 464 41 219 243 76 368 376 188 575 141-42 180 46 283-84 86 rage Membership in F. R. System: (continued) Withdrawals: Kansas Reserve State Bank, Topeka, Kansas; memo. of Mr. Imlay and letter from &Agent Ramsay advising of notice of intention to withdraw from System 1/23 State Bank & Trust Co. of Harrodsburg, Ky., resolution authorizing withdrawal 2/2 State Bank of Trumansburg, New York; notice of withdrawal 3/26 State Savings Bank, Caro, Michigan; notice of intention to withdraw from System 1/23 Mercantile Bank of the Americas: Advice from, of increase in capital stock from ,$5,000,000 to $10,000,000 1/22 Advice from, of opening of branch of Banco Mercantil Amricano del Peru, Lima, at Pirua, May 15th. 5/19 Letter from, re acceptances drawn against importation of sugar from Cuba 2/9 Opinion of Counsel that drafts referred to above are eligible for acceptance 2/9 Modification of Board's ruling requested by, to permit carrying of reserve of 31; against acceptances due after thirty days 2/18 Merchants Laclede National Bank, St. Louis, Mo. Reply to letter from, in re eligibility of D. R. Francis, Jr., to serve as director of bank under provisions of Clayton Act; referred 3/17 Recommendation of Law Committee for disapproval of application 3/18 Merchants National Bank, Los Angeles, Cal. Application of, for power to accept up to 10U;L of capital and surplus; action deferred 2/13 Merchants National Bank of New York City: Authority granted, to accept up to 10(Yi when converted into Merchants Bank of the City of New York 2/27 Merchants State Bank, Port Arthur, Texas: Condition of membership waived 6/29 Milford National Bank, Milford, Mass. Reduction in capita/ stock to $125,000 2/5 Miller, Adolph C., Member of F. R. Board.: Appointment of, as regular member of :ilecutive Committee for 4.uarter ending June 30, 1920 4/5 Notice that he intends to make motion at next meeting of Board for fixing of rate of ect, an paper secured by Treasury certificates at all ERBanks 2/2 Statement by, re discount rates an paper secured by certificates of indebtedness 6/9 Vacation; statement re, 6/3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 93 309 93 86 468 156-5 .161 180 girk 211 671 10 5,0 CV Page Minutes, F. R. Board: Method of recording in, permissions to FRBanks allowing reserves against deposit liabilities to fall below minimum prescribed by law; Counsel instructed to 3/12 inform Board re, Mississippi: See"State of Llississippi“ Moebleapah, H. A., Member, F. R. Board: 4/6 Appointed member of Bulletin Committee Appointed member of Executive Committee to serve from 1/2 Jan. 2 to April 1, 1920 Expiration of term of office on Executive Committee, 4/5 April 1st. Invitation from group one of Wisconsin Bankers' Asso. to attend annual meeting at Chippewa Falls, Wisconsin 1/21 Letter from, to FRAgents, asking views re best method for securing membership of eligible non-member banks 1/10 Memorandums of, Control of issue of F. R. notes, giving views as to 3/4 method of letter Board's to replies Submitting synopsis of Jan. 12th. in re use of FRSystem by eligible non2/11 member banks of par3hecks route to advised be Suggesting FRBanks ring non-member banks direct for collection, and 4/30 not forward to national banks Governors' by made Suggested reply to recommendations 6/1 conference held April 7 - 10 submitted by, 1920: 28, 2 Money Pool in New York, Jan. Analysis and comparison of borrowings and deposits of sixty-three banks participating in, submitted by 2/3 Deputy Gov. Case Nashville, Tenn. Bank, Morris Complaint from, re policy of lending on collateral of Liberty bonds & Victory notes on basis of purchase 2/6 price, rather than par value, thereof 2/6 Reply of Governor to above 266 354 1 343 76 33 238 164 424 509 133 148 148 uNit National Archives Building: Accumulated papers of Board requested by Secretary of Treasury for submission to Congress in support of 3/25 appropriation for; statement of Board re, of Officers Accounting Chicago: & of Comrtrollers Asso. National Letter from, asking adoption of regulation re rediscount by :Wanks of municipal notes, warrants, etc., issued 6/23 in anticipation of collection of taxes http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 304-5 564 CV I National Bank Examiners: (See also "Examiners: National Bank) Practice of, in passing as eligible paper, notes secured by warehouse receipts covering automobiles; memo. of Counsel re, 1/7 Comptroller to call attention of examiners to Board's ruling re above 1/7 National Bank of Commerce, New York: Request as to whether national bank may accept draft drawn by French Finance Corporation and secured by bill of lading, warehouse receipts, etc.,for renewal 2/6 Opinion of Counsel that drafts drawn to carry goods for indefinite period not eligible .2/9 National Bank of Commerce, Shawnee, Oklahoma: Application for fiduciary powers, held 5/13 National Bank Redemption Agency: Staff of, Bailey, TJarion Alta, resignation as c - lerk-counter 2/25 Caruthers, (Mrs.) E. R., resignation as clerk-counter 2/18 Currency counters; employment of thirty additional, at 41,040 per annum, approved 1/23 Currency-counters; employment of twenty-five additional, at $1,040 each, per annum 2/11 Currency counters; services of the 150 temporary, to be discontinued after April 25th. 3/31 Doyle, Mary A., resignation as clerk-counter 2/6 Elsea, Lucy K., resignation as clerk-counter 2/6 Estes, Nancy J., resignation as clerk-counter 2/11 Evans, Althea, resignation as clerk-counter 2/11 Gaylord, Mary O., resignation as clerk-counter 2/5 Mouser, Alberta B., resignation as clerk-counter 2/20 Hulvey, Sallie, resignation as clerk-counter 2/24 Nuber, Janet B., resignation as clerk-counter 1/27 O'Leary, Mary V., resignation as clerk-counter 2/19 Oswell, Charlotte Ann, name dropped from roll awing to absence since Dec. 23, 1919 2/4 pfleeger, Elsie P., resignation as clerk-counter 2/6 National Banks: Capital stock; reduction of, while at same time borrowing from ERBanks and. city correspondents; Board's views requested re, 4/5 National Banks in Hawaii: Authority of RBoard to grant fiduciary powers to,under provisions of Section 11(k); opinion of Counsel 2/6 National City Bank of New York: Application to credit Dr. A. Rosenthal with eA1,000, account of J. V. Shakeshaft, Petrograd; prohibition notice re, lifted 1/9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CVII Page National City Bank of New York: (continued) Application to transfer to De Danske Landmandsbank, Copenhagen, sum of 48,000 for account of Radau & Co. 1/9 Petrograd; prohibition notice re, lifted Branches and Sub-Branches: Antwerp, Belgium; notice of opening of branch in, 1/28 Jan. 21st. branch of Cape Town, South Africa; notice of opening 1/30 in, Jan. 15th. in, branch London, England; permission to establish 2/2 granted sub-branch establish London, England; permission to 6/8 in, granted in, of branch opening Madrid, Spain; advice re 4/8 April 5th. National Debt: Senate Bill 4119 providing for refunding of; Board's 4/7 views re, requested by Senator Frelinghuysen National Livestock Association: Invitation from President of, asking that member of Board address Convention of Livestock: 11.cin in Chicago, June 19th.; declined, but Board to send statement of 6/3 views Nebraska Bankers: April 28th. and 29th. set aside by Board for purpose of 3/24 hearing, on par clearing question Nebraska Congressional Delegation: Notice to, of expected conference between Gov. Miller and Board, in Washington, Feb. 24th., re charges of Nebraska bankers against par point campaign of Kansas 2/19 City & Trade Commerce: of Nebraska Department Complaint from Secretary of, to FRBank of Kansas City, in re mthod employed in collecting items of non2/2 member banks not clearing at par New Jersey Banking Institutions: Survey of, by State Bank Commissioner, with view to in3/25 creasing capital; letter from Acting Gov. Case New York Clearing House Association: 1/10 Board's vie= requested by, re rates an bank balances 4/5 Statement of, as at close of business April 2nd. New York Daylight Saving Law: Effect on inter-FRBank transactions; memo. of Mr. 3/24 Emerson re, Board no objection to FRBank of New York observing, if necessary employees remain until close of inter3/24 FRBank transactions Co. Lock & Safe York New Bid of, accepted, to install vault in new bank building 1/30 of MBank of Philadelphia http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 27 111-12 124 129-30 524 361 359 516 298 191 126 302 35 337 295 295 122 CVIII page New York World: Article in, criticizing disparity between discount rates prevailing at southern and northern F. R. Banks 2/2 Gov. authorized to make suitable response to criticism 2/2 Newspaper Article an Bank Credit: SeenDallas Morning News" -Interest Bearing Deposits of Member Banks: Non Amendment to FRAct to provide for guarantee by FRBanks of, suggested by President Waggoner of Security National Bank of Dallas 1/26 Reply of Mr. Moehlenpah 1/29 Non-Member Banks: Remitting at par; propriety of a MBank furnishing currency to, without cost; letter re, from RAgent at Dallas 3/25 Use of F. R. System by eligible; memo. of 1:r. "Moehlenpah submitting synopsis of replies to Board's letter of Jan. 12th. in re, 2/11 Non-Par Banks in the United States: Memo. of Mr. Hoxton showing number of, and division by F. R. Districts and States 5/11 Norris, (Senator) George W. Letter from, re FEBanks resorting to aoercoin in connection with par collections 1/20 3.29 128 104-5 3.3.8 304 448 9011 Offices, F. R. Board, to be closed at 1 P. M. an all Saturdays during period June 15 - Sept. 15, 1920 6/10 Official Organ, F. R. Board: Statement in Chicago newspaper referring to private publication as; agreed that, hereafter, statement appear in conspicuous place in Bulletin that it is only official organ of Board 2/11 O'Gorman, (Han.) James A. Letter from, enclosing copy of H. R. Bill 13090 providing for German billion dollar credit 3/29 Oklahoma State Federation of Labor: Complaint from, to Senator Owen, that banks in Tulsa had resolved to refuse loans to employers of union labor 2/26 Old Colony Life Insurance Co. Rights of FRBank of Chicago under party wall agreement with; letter from Chicago re, referred 3/25 3/29 Open market purchase of bills by FRBank of New York; minimum rate of 6,;(t, approved an, 2/6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 161 504 160 CIX Page Organization Chart, F. R. Board: Draft of, containing suggested modifications affecting 4/12 Board's staff (see auxiliary minute book,of date) Overdrafts: f certificates of indebted; Issue of Treasury one-day Z: 3/18 ness to FRBanks by U. S. Treasurer to cover, 3/13 Method for handling expected U. S., on F. R. Banks Report re issue of Treasury one-day k; certificates of indebtedness to RBanks by U. S. Treasurer to cover, 3/19 Telegram from Asst. Secretary Leffingwell to FRAgent at San Francisco in re probable overdraft of Treasurer's 4/2 account, of date Owen, (Senator) R. L. Reply of, to letter from Gov. Harding under date of 5/19 May 12th. re in Senate Bill 3770 introduced by, to amend FRAct matter of interest rates charged by member banks; 1/23 memo. of Counsel re, of views Letter from Senator McLean requesting 1/23 Gov. and Board re effect of above bill Oyster, (Capt.) James F. Eligibility of, to serve as Class "Bft director of MBank of Richmandwhile member of D. C. Rent 1/22 Commission; memo. of Counsel re, Above matter referred to Law Committee to prepare draft of regulation in accordance with suggestion 1/24 of Mr. Hamlin Member of Rent Commission not considered by Board 1/26 as within intention of circular #21 Packing Houses Five leading meat, of United States; draft of letter to Governors of FRBankz requesting schedule of acceptances 3/23 held by RBanks of each of, 3/25 Letter approved Holdings by FRBanks of acceptances and other paper in which largest, are interested; report from FRBanks 3/20 to be requested re, Examination: & Operations Div., Chief, W., W. Paddock, Recommendations of, re examination of certain foreign 3/26 banking corporations Statement by, of observation made upon recent visits to 3/2 FRBanks of Chicago, Minneapolis and. Kansas City http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 367 280 271 283 335 471 91-92 92 88 99 106 292 305 287 308 231 CX Page Paper: Automobile; ruling by FRBank of Kansas City that undesirable for rediscounting, being non-essential industry; statement by committee representing local automobile industry re, 4/27 Statement by Gov. Harding to committee, outlining Board's position 4/27 Carried by FRBank of Chicago for FRBank of New York; Board requested to arrange that other FRBanks take over :)20,000,000 of, 3/12 Discount rate of 5,;; to be continued on, secured by U. S. certificates of indebtedness bearing interest rate lower than 5;;; notice to RBanks 4/17 Discount rate of 5:5; approved an, secured by 515; U. S. certificates of indebtedness, for all FRBanks 4/17 Endorsement of, Ruling of Board requested by Kansas City re policy to be pursued re paper not bearing endorsement of nonmember bank but for which a non-member bank is principal 3/9 Practice of national bank examiners in passing as eligible, notes secured by warehouse receipts covering automobiles; memo. of Counsel re, 1/7 Comptroller to call attention of examiners to Board's ruling re, 1/7 Preferential rate on, secured by receipts for goods stored in special warehouses; letter from Director of Ga. State Bureau of 'Markets re, 1/2 Right of Board to approve preferential rate on, secured by receipts issued by bonded warehouses; opinion of Counsel re, 2/17 Wax paper holdings of F. R. Banks; memo. of Mr.Jacobson analyzing, 1/6 Weekly statement of holdings by member banks in F. R. cities of, secured by Liberty bonds, Victory notes, and U. S. certificates of indebtedness, ordered furnished by Statistical Dept. 3/8 Par Collections: Banks not remitting at par; suggestion from FRAgent Jay that Board publish list of, instead of those remitting at par 4/12 Gov. authorized to procure from RBanks lists of banks not remitting at par, and report 4/12 Adoption in future of par collection of checks by banks in Pittsburgh; assurance given Gov. Harding re, 4/24 Changes suggested by Deputy Gov. Peple in proposed letter from Board to House Banking & Currency Committee in re system of, 3/24 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 411412 266 394 394 255 21 4 179 13 249 569 369 405 299 CY,I Par Collections: (continued) Conversation of Gov. Harding with Representative Upshaw 2/2 of Georgia re par collection of checks; memo. of, Extent Board may count upon cooperation of Clearing House Associations in securing nation wide, by differentiation in exchange charges against items of banks not on par list; comnunication from Board to FRBanks 1/30 re, Failure of Clearing House Association of Atlanta to make effective proposed plan for differentiation in exchange charges against items of banks not an par 1/30 list; report re, F. B. Banks to be advised to route checks of parring non-member banks direct for collection, and not forward 4/30 to national banks MBank banks against country Injunction suit of Georgia of Atlanta in re; advice that opinion had been render4/5 ed dismissing bill of complaint form • copy of Louis; Corporation of St. International Shoe customers drawn checks to returning by, in used letter 4/2 on banks not on par list for dis6th. Feb.. Orleans an held in New Meeting to be cussion of Board's plan re; notice from Gov. 2/5 Van Zandt of Dallas 2/5 approved Zamdt to Reply Gov. Van 2/5 Branch re, of New Orleans Manager Telegram to Method employed by MBank of Kansas City in collecting items of non-member banks not clearing at pax; complaint from Nebraska Dept. of Trade & Commerce re, 2/2 Protest from group of State banks against Atlanta's methods In re, and press statement issued by Atlanta; 2/7 teleaTam from RAgent McCord re, Resolution of Representative Andrews proposing investigation of claims of non-member banks in Nebraska against methods employed by Kansas City in collecting 2/2 items an non-member banks not remitting at pax Senate resolution requesting information as to whether Board or PRBanks had resorted to aoercian in connection with; also letter from Senator Norris in 1/20 re same Draft of reply to President of Senate in re above 1/27 Par List: Placing of banks in disconsin on, in Seventh District, 1/26 effective March 1st.; advice from Chicago re, Par Point Carpaign: Allegations of coercion in connection with; letter from Representative Robison of Kentucky requesting expres4/12 sion by Board in response to, 4/12 Reply of Governor http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 126 123 122-23 424 339-40 334 145 145 145 126 154 127 72 110 104 369-70 370 CXII Page Par Point Campaign.: (continued) F. R. Bank of Kansas City: Complainants against Bank in connection with, to be notified Board will grant hearings but will not receive depositions 4/'6 Conference requested by Board with FRAgent Ramsey & Transit Manager of Omaha Branch in re charges of Nebraska delegation against, 2/18 Nebraska bankers granted hearing by Board an April 28th. and 29th. 3/24 Nebraska delegation notified that Gov. Miller would be in Washington Feb. 24th. for conference with Board in re charges of Nebraska bnnl:ers 2/19 Further action an part of RBanks to increase number of banks remitting at par, suggested by Mr. Emerson 2/17 Furtherance of, in Ninth and Twelfth Districts; memo. of Mr. Emerson suggesting action in re, 2/24 Restraining order of Fulton Superior Court issued to FRBank of Atlanta in re collection of checks; telegram from Bank re; reply authorized by Board 1/15 Modification of above order; advice re, from Counsel Randolph of RBank of Atlanta 1/17 State bank membership committee of Board to be instructed to discontinue activities in re, to prevent misconstruction of attitude og Board 2/24 Park-Union Foreign Banking Corporation: Amendment to agreement with RBoard so that aggregate of acceptances outstanding, plus total deposits, not 1/28 exceed twelve times subscribed capital and surplus Passmore, (Gov.) E. P., F. R. Bank of Philadelphia: 1/22 Notice of intended resignation peiffer, Louise E., resignation as stenographer in Comptroller's office, effective Jan. 31st. 2/11 Pension Plan for F. R. Bank Employees: Memo. of Mx. Hoxton in re, 2/17 Memo. of Mr. Hoxton in re, outlined in letter from Mr. Kenzel 2/20 Report by Mr. Hoxton on, 3/9 Perrin, John, F. R. Agent, San Francisco: Vacation approved for, during months of February and. March, 1920 1/5 Platt, Edmund, Member of F. B. Board: Appointed member pro tempore of Bulletin Committee 6/8 President's Coal Oomudssion: See"Coal Commission" Press Statements: Conversation of Gov. Harding with representatives of press re; no statement of discount rates to be posted on Bulletin Board before 4 o'clock P. M. 1/21 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 356 183 296 191 176 200 67 66 199 115 64 8 168 171 194 g.64 7-8 5g9 77 OXIII Page Press Statements: (continued) Credit conditions; Gov. to prepare statement of Board's 5/6 views re policy to be pursued in control of, Form of announcement by Board of discount rates established as result of meeting Jan. 21st.; preparation of 1/22 announcement referred to Gov. and Vice-Governor Policy": Banking and "Prices Article entitled, read by J. B. Forgan before American Economic Association; ordered mimeographed and 1/2 copies sent FRBanks Publications, F. R. Board: Bank of North Dakota, Bismark, North Dakota, ordered placed upon mailing list for all publications issued 4/13 by Board 438 85 5 377 IttrAl quarters, F. R. Banks: See under various F. R. Banks kivarters, F. B. Board: Authority of Board to purchase real estate for offices; reply of Comptroller of Treasury to Gov. Harding re, 5/19 Division of Analysis &Research: Lease for space at 37 Liberty Street, New York City, 5/15 approved Lease of additional space at 37 Liberty Street, 1/9 New York City, authorized Division of Operations and Examination: Lease of additional room in Metropolitan Bank Bldg. 2/1 for use of, Division of Reports and Statistics: Gov. authorized to secure space in National Metropolitan 4/24 Bank Bldg. to house, Procuring of permanent, outside of Treasury; authority 4/13 to be requested of Congress re, Harding designated Treasury and of Gov. Secretary 4/13 to secure suitable action by Congress re above reserve etc., in re sending economists, 4luestionnaire for and net deposit liabilities, and reclassification of 1/17 reserve cities, submitted by FRAgent Curtiss mxestionnaire on acceptances; authority given Gov. to send to FRAgents at Boston and New York for confidential 4/24 distribution http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 469 462 26 142 403 375 375 64-65 404 Fag' Railroad companies obtaining Government aid, contract to be entered into by; statement by Ur. Hamlin re conference with Bradley W. Palmer re, 4/7 Railroad Securities Comnittee: See "Committee on Railroad Securities" Railroad Transportation Act of 1920: Amendment to, placing entire responsibility for security of loans on Interstate Commerce Commission; statement by Secretary of Treasury Houston 6/15 Duties of FRBoard under provisions of; memo. of Counsel 3/9 Railway Loan Advisory Committee: Authority vested in, simply to pass upon farm of applications, under recent amendment to Railroad Transportation Act; statement by Secretary Houston 6/15 Appointment of Executive Assistant at $4,500 per annum, 4/1 approved Delano, Frederic A., resignation 4/16 Elliott, M. C., acceptance of appointment as member of, 6/23 Elliott, M. C., designated member of, 6/15 McLean, Angus W., appointment as member of, 5/25 Acceptance of appointment 5/28 Name of"Committee an Railroad Securities" changed to, 4/1 . ,- ,uarters, equipment, ard suitable office force authorized for, 4/1 Recommendation of, for approval of loan of 05,000,000 to Boston and Maine Railroad 5/28 Recommendation of, for approval of loan of 064,600 to Salt Lake & Utah Railroad 5/28 Scott, Fred, of Richmond, Va., appointed member of, 4/16 Appointment declined; report re 5/25 Rates of Interest: See"Interest Rates" Rector Trading Co. of New York: Complaint as to bills of; letter from Ur. Kanzel 1/24 Redemption Div. of Office of Comptroller of Currency: Staff of, Employment of four laborers for temporary period 4/24 Enployment of two laborers for temporary assignment to, approved 2/20 Herbert, Daisy H., resignation as clerk-counter 1/12 Ricketts, Marie Gordon, resignation as clerk-counter 1/12 Rediscounts: Acceptances drawn against whiskey in bonded warehouses, 'eligibility for rediscount; negative opinion by General Counsel re, 4/8 Bamkerstacceptances; rate of 51% approved an, for Atlanta 4/1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 356 544-41 263 544 331 389 666 545 483 500 331 353. 484 601 339 482 100 401 185 42 42 Pace Rediscounts: (continued) Bankers' acceptances; rate of 5-5,; approved on, for Chicago Bankers' acceptances; rate of 5N approved on, for Chicago 2/28 219 3/27 3/30 3/31 312 320 324 Effective date set for April 1st. Bankers' acceptances; rate of 516 approved an, for 4/5 Dallas a approved on, for Bankers' acceptances; rate of 5,Y/ 4/1 Kansas City Bankers' acceptances; rate of 51% approved on, for 4/7 Philadelphia Bankers' acceptances; rate of 51% approved on, for 4/7 San Francisco FRBallkS Bankers' acceptances; telegram to Governors of 1/26 modifying telegram sent Jan. 24th. re 6,3 rate an, Certain ,luestions re, raised by FR1gent at San Francisco 1/20 Change in rediscount procedure at San Francisco; memo. of Mr. Hoxton in re suggested; Board favors perfecting 2/9 rediscount organization of Bank Collateral notes; decision by Board that FRBanks should not accept for rediscount, from other aBanks, unless 6/15 secured by collateral of 100/L market value Expected heavy loss by New York in today's settlement, with probable necessity for negotiating large rediscount 1/29 operation; statement by Gov. Harding F. R. Bank of Atlanta: 6/1 By F. R. Bank of Cleveland: 6/10 6/15 5A5 By F. R. Bank of New York: 5/25 5/27 5/29 6/8 6/24 6/29 6/29 F. R. Bank of Chicago: 4/5 By F. R. Bank of Cleveland: 4/17 4/21 4/24 5/6 5/20 6/29 6/30 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 338 329 356-57 357 102 70 158 543 119 509 537 542 459 476 492 502 524 567 573 575 340 392 397 405 437 474 574 582 CXVI Page Rediscounts: (continued) F. R. Bank of Chicago: By F. R. Bank of New York: F.31. By By By Bank of Dallas: F. R. Bank of Boston: F. R. Bank of Cleveland: F. R. Bank of New York: By F. R. Bank of San Francisco: F. R. Bank of Kansas City: By F. R. Bank of Boston: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis By F. R. Bank of Chicago: By F. R. Bank of Cleveland: By F. B. Bank of Dallas: By P.R. Bank of New York: 4/6 4/8 4/17 4/21 4/24 4/26 4/30 5/1 5/10 5/25 6/1 6/2 6/4 6/8 6/29 6/15 6/29 5/1 5/14 5/15 5/25 5/29 6/8 4/27 4/27 5/10 5/27 6/15 6/30 1/6 1/16 6/29 6/30 1/6 4/21 4/24 5/1 5/5 5/15 5/25 6/1 8/2 6/8 6/22 346 360 393 397 406 409 426 426 440 476 608 612 522 623 673 . 3 54 573 427 454 459 477 505 524 43.2 43.2 441 491 541 505 12 60 675 682 591 406 4g° 45° 46°_, 47 ! 60.! 61•1 66° CXVII Page Rediscounts: (continued) F. R. Bank of Minneapolis: By F. R. Bank of Boston: By F. R. Bank of Cleveland: 6/30 4/24 5/10 5/11 5/19 5/20 5/20 5/27 5/28 6/1 6/1 6/2 6/10 6/15 6/16 6/22 6/24 583 405 440 445 466 473 471 492 496 508 509 514 538 541 548 551 566 4/21 4/24 4/Z7 5/5 5/14 5/14 5/25 6/8 6/22 6/22 6/23 6/29 6/29 397 405 412 431 453 454 478 524 550 551 562 573 574 1/14 2/2 3/11 3/16 3/23 1/14 2/2 1/14 2/2 3/16 3/23 2/2 1/11 1/14 53 129 260 275 290 53 129 53 129 275 290 129 53 53 By F. R. Bank of New York: By F. R. Bank of Richmond: F. R. Bank of New York: By F. R. Bank of Atlanta: By F. R. Bank of Boston: By F. R. Bank of Chicago: By F. R. Bank of °level:ma: By F. R. Bank of Dallas: By F. R. Bank of St. Louis: By F. R. Bank of San Francisco: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rediscounts: (continued) F. R. Bank of Philadelphia: By F. R. Bank of Atlanta: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis By F. R. Bank of Bost: By F. R. Bank of Chicago: By F. R. Bank of Cleveland: By F. R. Bank of Dallas: 2/2 2/11 2/20 3/30 3/20 3/20 3/30 4/9 4/13 4/14 4/16 4/21 1/2 1/6 1/16 1/22 1/24 2/2 2/4 2/6 2/11 2/i8 2/20 1/28 2/11 3/2 3/10 3/20 3/23 3/30 4/5 1/6 1/9 1/13 1/14 1/20 1/24 2/2 2/4 2/6 2/11 2/17 2/18 2/20 /25 2 2 3/10 3/12 Page Rediscounts: (continued) F. R. Bank of Philadelphia: (cantknued) By F. R. Bank of Dallas By F. R. Bank of Kansas City By F. R. Bank of Llimneapolis By F. R. Bank of New Yolit By F. B. Bank of St. Louis P. R. Bank of Richmond: By F. R. Bank of Atlanta By F. R. Bank of Boston By F. R. Bank of Chicago By F. R. Bank of Cleveland http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3/20 2/17 2/20 3/2 3/12 2/17 2/25 2/28 3/2 3/9 3/10 3/12 3/23 4/5 4/21 4/24 4/27 4/30 5/1 5/10 1/9 1/16 287 175 193 226 267 175 208 220 226 249 257 267 290 340 397 405 412 425 427 440 25 60 1/9 1/20 5,40 5/19 5/28 6/8 6/16 6/24 1/22 2/2 3/23 3/26 4/2 4/13 4/21 4/24 4/30 5/5 5/11 5/14 5/25 5/25 5/29 6/3 25 68 440 466 496 524 548 566 84 129 290 307 336 375 397 405 425 430 444 454 476 477 503 517 CL Rediscounts: (continued) F. R. Bank of Richmond: (continued) By F. R. Bank of Cleveland By F. R. Bank of Dallas 4/12 • By F. R. Bank of New York F. R. Bank of St. Louis: By F. R. Bank of Boston By F. R. Bank of Cleveland By F. R. Bank of Minneapolis By F. R. Bank of New York By F. R. Bank of San Francisco F. R. Bank of San Francisco: By F. R. Bank of New York Increase in rate on paper secured by Liberty bonds and Victory notes, recommended by MBank of Chicago Matter taken up, action deferred http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/8 6/9 645 6/22 6/23 6/29 6/30 1/9 3/26 4/1 4/2 4/17 4/17 4/27 4/12 4/13 4/21 4/29 5/5 3/26 3/31 4/13 4/14 4/21 5/19 3/26 4/6 4/8 4/21 4/30 5/1 5/11 5/15 5/19 5/25 5/27 6/2 3/29 4/5 5/1 524. 533, 541 550 562 574 583 307 3g8 336 368 392 392 .412 368 30 398 43,9 430 307 0 30 378 398 467 307 348 36° 397 425 427 448 46° 467 479 491 514 340 428 33.2 3/27 3/30 020 CICCI Page Rediscounts: (continued) Member banks applying for, in excess of capital and surplus; memo. of Counsel in re plan that FRBanks 1/12 impose "graduated excess charge" against, 1/15 Referred back to Counsel Opinion of Board requested by RAgent Perrin re restriction by FRBanks of rediscounts of paper of one 2/3 borraaer for different member banks 2/3 Opinion of General Counsel re, approved Opinion of General Counsel covering rediscounts by 4/5 FRBanks for State member banks Rate of 5,4 approved an, far Chicago, maturing 1-90 days, including member bank collateral notes secured by 2/28 Treasury certificates Rate of 51; approved an, for Cleveland, maturing 1-90 days, including member bank promissory notes secured 2/28 by Treasury certificates Rate of cc; requested by San Francisco on all rediscounts 6/16 and loans; referred Request from Chicago that, awing to expected demands upon resources, beginning Larch 1st., it not be called 2/26 upon to rediscount for other eaBanks Ruling re member bank rediscounting with FRBank nonmember bank's notes secured by Liberty bonds and 5/27 Victory notes; request from Dallas whether revoked Situation at Philadelphia; letter from RAgent Austin 2/6 commenting upon, 1/6 Status of, between ERBanks; report re, 1/13 1/20 1/22 1/23 1/24 1/27 2/3 2/4 2/5 2/6 2/11 2/12 2/13 2/17 2/18 2/19 2/20 2/25 2/26 2/27 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 38 56 134 134 337 219 220 549 212 489 149 12 44 68-69 84 91 99 108 136 139 145 151 163 170 172 175 185 190 194 208 210 216 Fag° Rediscounts: (continued) Status of, between F. R. &Inks; http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis report re, 3/2 3/4 3/5 3/11 3/12 3/16 3/17 3/18 3/19 3/23 3/24 3/25 3/26 3/29 3/31 4/1 4/2 4/6 4/7 4/8 4/9 4/13 4/14 4/15 4/16 4/17 4/21 4/24 4/26 4/27 4/28 4/29 4/30 5/1 5/5 5/6 5/11 5/12 5/14 5/15 5/19 5/20 5/25 5/27 5/28 5/29 6/1 226 238 239 260 261 274 211 260 282, 269 297 301 309 316 326 328 336 346 367 360 364 376 378 382 367 392 397 404 409 412 418 419 40 421 431 431 445 _, 445 4bg 460 461 414 419 490 495 60$ ,601 Page Rediscounts: (continued) Status of, between F. R. Banks; 1 I. 6 6 4 )13 1.2 La L9 :74 a/ 51 46 46 66 6o 6/ 14 ,19 r90 ,96 i0g 501 report re, 6/2 6/3 6/4 6/8 6/9 6/10 6/15 6/16 6/22 6/23 6/24 6/29 6/30 Refunding of National Debt: Senate bill 4119 providing for; letter from Senator 4/7 Frelinghuysen asking Board's views re, Regulations, F. R. Board: Governing organization and operation of corporations under Section 25(a) of F. R. Act, known as "Edge Act"; 3/24 ordered printed Law Committee requested to submit to Board regulations 3/24 to supersede those of 1917 now in force Regulations under "EdEp Act": See "de Act" See also Regulations, F. R. Board Reorganization plan for employees of F. R. Board; memo, of 5/14 Secretary recommending, Above plan approved by Gov., and Secretary directed to 5/25 make plan effective Reports: Business aid financial situation in New York; letter from Assistant FRAgent at New York making daily report re, 3/2 Business conditions at Philadelphia, enlarged reports on; additions to force, and more space, necessary for 1/14 making Letter from Dr. Willis in re securing of necessary 1/20 space Business conditions in Second District; introductory 5/1 section of monthly report submitted of month Business report from MBank of New York for 6/22 May, 1920 Dates of last, written or oral, filed with FRBank of New York by certain banking corporations in New York 2/4 doing acceptance business; advice re, Vice-Gov. to ascertain if RE1Bank has record on file of oral report of certain of above corporations 2/4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 512 517 522 523 531 537 541 548 550 562 566 572-73 582 359 299-300 300 458 481 225 51-52 70 429 553 141 141 Page Reports: Discontinuance of reports by FRBanks to Board showing kind of commodity back of loans, recommended by Vice President of First National Bank of Boston 4/28 Governors'; in response to topic 11, sub-section 7-a of Governors conference, re commodity hoarding 4/21 National bank condition; Comptroller stated not able to have printed, as of close of business Dec. 31st., requesting Board print in c - onnection with reports of condition of member banks 3/27 Above net deemed lawful by Counsel 3/29 Printing in Bulletin of such parts as of interest to F. R. System, authorized 3/29 State member bank condition; deferring of call for, until 2/24 May, requested by Statistician Weekly, showing loans secured by stocks and bonds; discontinuance of, approved 5/15 Representatives of the Press: Conversation of Gov. Harding with, in re press statements; no statement re discount rates to be posted on Bulletin Board before 4 o'clock, P. L. 1/21 Reserves: Acceptances; recommendation of Mr. Kenzel that Board not approve as reserve against, acceptances of commsrcial houses as distinguished from bankers' acceptances; approved 3/12 Amendment to Section 19 of F. R. Act, re estimating required balances; letter from RAgent Curtiss recommending, 1/28 American Foreign Banking Corporation; modification of ruling of Board requested by, to permit reserve of 32; against acceptances due after thirty days 2/17 2/18 American Marine National Bank, San Pedro, Los Angeles, Cal.; approval of reduction in reserve requirements 6/8 Asia Banking Corporation; certain security approved for, as reserve against outstanding acceptances 3/23 Deficiencies in, Counsel instructed to advise Board re procedure in calculating penalties on, 3/11 Counsel instructed to furnish opinion wether, in imposing penalties on, to calculate upon daily, or average, basis 3/11 F. R. Bank of New York; memo. showing dates and amounts of deficiencies, with statement by Gov. Harding 4/1 F. R. Bank of New York; query of Mr. Miller in re, 2/28 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 416 399 315 314 314 200 461 71 261 116 179 166k 50 291 7,65 266 321 CXXV Page Reserves: (continued) Deficiencies in, (continued) F. R. Banks; Law Comndttee instructed to interpret meaning of provisions of Act imposing penalties on,2/28 F. R. Banks; recommendation of Governor re tax upon, 4/1 2/26 F. H. Banks; statement by Counsel re, be to Governor authorized to report to Board penalty 3/11 imposed on FRBaaks having, Board; draft Graduated tax on, establishment of, by 4/2 of letter to ERBanks re, penalties Lember banks of MBank of Cleveland assessed for, to from six to fifteen consecutive months; 1/15 advice re, requesting increase in penalty rates of Governors sent ordered Harding Reply of Gov. 1/15 all FRBanks imposing Act provisions of R. F. an Counsel Opinion of 3/9 penalties an, due Dallas, of bank member of for, penalty of Rebate 6/10 to delay in mail Table Showing average monthly number of member banks having, amount of penalties, and rate charged, 3/2 ordered furnished monthly 3/29 Tax upon; memo. of Counsel re, P. R. Bank of New York: Improvement in reserve position daring period Feb. 254/28 April 22; report re, Insufficient gold and legal tender to sapply minima requirements against both note and reserve deposits; opinion of Counsel requested as to apportionment 2/27 of reserve Probability of, being short in reserves of date; statement by Gov. Harding; rediscounts authorized 3/11 for, Report by Gov. Harding re; Bank required to discount 1/14 with various RBanks up to „;100,000,000 F. R. Banks: General discussion re reserve positions of the several, 2/26 1/6 Report re reserve positions of the several, 1/13 1/20 1/22 1/23 1/24 1/27 2/3 2/4 2/5 2/6 2/11 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 222 327 212-13 265 334 55 55 251 536 226 317 415 218 265 53 212 12 44 66 84 91 99 108 136 139 145 151 163 Reserves: (continued) P.R. Banks: Report re reserve positions of the several, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/12 2/13 2/17 2/18 2/19 2/20 2/25 2/26 2/27 3/2 3/4 3/5 3/11 3/12 3/16 3/17 3/18 3/19 3/23 3/24 3/25 3/26 3/29 3/31 4/1 4/2 4/6 4/7 4/8 4/9 4/13 4/14 4/15 4/16 4/17 4/21 4/24 4/26 4/27 4/28 4/99 4/30 5/1 5/5 5/6 5/11 5/12 5/14 5/15 CLXVII Page Reserves: (continued) F. R. Banks: Report re reserve positions of the several, 5/19 5/20 5/25 5/27 5/28 5/29 6/1 6/2 6/3 6/4 6/8 6/9 6/10 6/15 6/16 6/22 6/23 6/24 6/29 6/30 Mercantile Bank of the Americas; request from, for modification of Board's ruling to permit carrying of reserve of against acceptances due after thirty days 2/18 Method of calculating, approved by Board to become effective Feb. 12th.; granting of hearing to certain Texas bankers protesting against, ref. to Gov. 1/29 Method of making public reserve percentages of ERBanks; memo. of Statistician and Asst. Secretary re, 6/24 Figures showing combined reserve against note and deposit liabilities of each FRBallk ordered published in weekly statement of condition of FRBanks 6/24 Method of recording in minutes, permissions granted FRBanks allowing reserves against deposit liabilities to fall below prescribed minimum; Counsel instructed to inform Board re, 3/12 New method of determining, deferred until March 1st.; telegram from Board to ERBanks advising of, 2/4 Payment of interest on reserve balances of member banks held by reserve banks; letter from FRAgent Curtiss 1/2 Computations bearing on above suggested payment, forwarded by FRAgent Curtiss 1/28 Proposed new method of calculating, deferred indefinitely, and FRBanks so notified 2/26 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 467 474 479 490 495 502 507 512 517 522 523 531 537 541 548 550 562 566 572 582 186-87 117 567 567 266 142 2 112 211-12 =win paga Reserves: (continued) Proposed plan of Board to change method of calculating required, of FRBanks; discussion re, with committee of bankers from Eleventh District 2/3 Texas committee of bankers authorized to prepare report outlining plan under new method which would conform to FRAct, for action by Board 2/3 Second National Bank of Allegheny, Pittsburgh, Pa.;application for reduction in reserve against demand 5/27 deposits Second National Bank of Allegheny, Pittsburgh, Pa.; disapproval of application of, to reduce required reserve from 1c5 to 7,; 6/15 1 Suspension of reserve requirements; Law Committee authorized to instruct Counsel to render opinion re certain phases of RiAct relating to, 3/2 Suspension of reserve requirements for ten days, of RBanks whose reserves fall below required minimum owing to expected heavy demands of Treasury Dept. 3/15 Resolution of U. S. Senate asking if Board or FRBanks are guilty of coercion in connection with par collections, together with letter from Senator Norris re same 1/20 Draft of reply to President of Senate re above 1/27 Resolutions, F. R. Board: Amendment to by-laws covering publication of resolutions of personal character 3/30 Glass, Carter; resolution adopted upon retirement of, as Secretary of Treasury and ex officio Chairrnn of Board2/18 Strauss, Albert; resolution adoptel upon resignation of, as member of Board 3/16 Suggested amendment to Board's resolution defining eligibility of political or public officers for office in _MBank; memo, of Counsel submitting, 2/9 Retail Grocers Association, Kansas City, no. Protest by, against operation of cooperative store by employees of RBank of E:Insas City 3/23 Retail Trade: Changes in volume of; Bulletin Committee authorized to publish in Bulletin figures thus far obtained in investigation of, 1/2 Robert Morris Associates: Board to become research member of, at 100 per annum 4/12 Roubles (Russian): Importation of, by A. D. Jones of dinston-Salem, N. C., disapproved 3/23 Shipment of gold roubles from Russia to United States; letter from Acting Governor,ERBaah of New York re, 6/8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 131 138 468 544 224 272- 110 3z1 276 161 296 6 369 269 CM:r7. Page Rowan, William J. Appointed vault clerk at Bureau of Engraving & Printing, 3/31 in charge of notes in F. R. vault (See Roubles) Russian Roubles: 325 tosit Salt Lake & Utah Railroad: Loan of 064,600 to, approved upon recommendation of Railway Loan Advisory Committee, and report trans5/28 mitted to Secretary of Treasury San Francisco Clearing House Association: Appointment by, of but one delegate to attend conference 1/10 in Chicago, Jan. 23rd.; advice from RAgent Perrin Scandinavian-American Bank of Seattle: Payment of first350,000 into funds of; advice from 1/7 FRAgent Perrin Scott, Fred, appointed member of Railway Loan Advisory 4/16 Committee 5/25 Appointment declined Second National Bank of Allegheny, Pittsburgh, Pa. Application for reduction In reserve against demand 5/27 deposits; ref. required reserve Disapproval of application of, to reduce 6/15 from IA; to 74 Secret Service: See "United States Secret Service" Secretary of the Treasury: Authority of, under Pittman Act, re ism-Ince and. retirement of one-year Treasury certificates of indebtedness to 4/5 secure FaBank note circulation; opinion of Counsel Secretary of the Treasury Houston: Letters from, re Accumulation of papers of Board, requesting statement of, for submission to Congress, in support of 3/25 appropriation for National Archives Bldg. detail requesting Board, of Assistant Counsel Angell of, to Treasury Dept. to assist in making report 3/26 upon monetary conditions in Virgin Islands re in Colorado policy of Letter from Senator Thomas of Treasury Dept. re interest rates on Treasury 3/17 certificates Above letter of Senator Thomas referred to 3/23 Secretary Houston for reply Postponement of discussion of discount rate situation requested by, until Feb. 9th., in order that he 2/6 might attend meeting http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 501 32 22 389 482 488 544 341 301-5 309-10 277 294 146 Page Secretary of the Treasury Houston: (continued) Statement re amendment to Railroad Transportation Act placing responsibility for security of loans an Interstate Commerce Commiss4pn,Board's committee to pass simply on form of application 6/15 Secretary's Office, F. R. Board: Telephone booth ordered installed in, 2/11 Section 25(a) of F. R. Act: Application for organization of "First Federal Credit Bank" under; memo. re, 1/22 Securities: Asia Banking Corporation; certain security approved for, as reserve against outstanding acceptances 3/23 Security National Bank, Dallas, Texas: Amendment to FRAdt to provide for guarantee by FRBanks of non-interest bearing deposits of member banks,suggested by President Waggoner of, 1/26 Reply of Mr. noehlanpah 1/29 Senate Bill #3680: Memo. of Counsel advising of, providing for purchase and redemption of J50 and. 3.00 Liberty bonds 2/2 Senate Bill 43770: Memo. of General Counsel in re, introduced by Senator Owen, to amend F. R. Act in re matter of interest rates charged by member banks 1/23 Request from Senator McLean for views of Governor and Board re effect of, 1/23 Senate Bill #4119: Refunding of national debt; letter from Senator Frelingbuysen asking Board's views re, 4/7 Senate Resolution 328: Draft of reply by Gov. Harding to, in re rates on call loans in commercial centers 3/26 Suggested amendrmrt to Board's reply to, 3/27 Silver: Imports and exports, Jan. 1 - Dec. 20, 1919; figures of Board's Statistical Div. showing, to be rinfie public 1/2 Shipment of, to Orient, under Board's agreement with certain foreign banking corporations; memo. of Mr. Emerson recommending profit accruing from, be paid one FRBarik to be pro rated among all RBanks 3/9 Silver Certificates: Memo. of Mr. Leffingwell suggesting FRBanks gather in, and hold; telegram to this effect sent RBanks 4/7 No longer necessary to withhold, or standard silver dollars, from circulation; FRBanks to be advised 5/19 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 410 Page Silver Dollars: MBank of Minneapolis able to obtain about 125,000 of, from local banks not disposed to assume charges of 1/27 Shipment to Chicago sub-treasury; advice re, corthree foreign First shipment of, to Orient, by the porations having agreement with Board; notice of 3/24 settlement covering, Method of payment of shipping charges on standard; memo. 2/17 of Mr. Emerson suggesting, No longer necessary to withhold, and silver certificates, 5/19 from circulation; ERBanks to be advised from protest Shipment of, by Treasury to Orient; President of Cinco Minas Co., N. Y. City, that sane works hardships an American companies producing silver]./9 Shipment of, to Orient, by Asia Banking Corporation, and selling without obligation to melt; advice re; 3/19 condition re melting waived re,'-i110,000,000, to limitation Shipment of, to Orient; moved, and maximum amount left to discretion of Gov. 2/26 or Vice-Governor Silver Exports: Daily reports from Collectors of Custom re; discontinua5/14 tion of, approved Silver ,,uotations: F. R. Bank of New York authorized to wire Shanghai daily re, for use of foreicn banking corporations under 4/5 agreement with F. R. Board & Reports Div. Statistics: Smead, E. L., Asst. Chief, Memorandums of, re Earnings, F. R. Bank of Liinneapolis; "protest fees, 2/11 4184.95"; no objection Expense items of Memphis branch of RBank of St.Louis, and ERBanks of Minneapolis and Kansas City; no 2/11 objection Bonus Soldier Bill: Opposition to, by Watson, iil1iams, & Co. of New Orleans 5/20 Ga. Doublin, Bank, Southern Exchange Application of, for membership in System, disapproved 1/12 by reason of insufficiency of capital Spencer, Charles E., of First National Bank of Boston: Recommendation of, for discontinuance of reports by FRBanks to Board showing kind of commodity back of 4/28 loans Spokane Clearing House Association: Charges on transfers imposed by members of; letter re, 5/5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 110 296 176 470 27 282-83 214 455 341-42 166 166 472 41 416 433 Page Staff of F. R. Board: Chairman's Office: McDermott, A. M., resignation as confidential clerk 2/6 Chief Clerk's Office: Kelisky, Bessie B., appointment as stenographer and typewriter 5/5 Comptroller's Office: Birckhead, 0.W., resignation as secretary to Comptroller 6/30 Connell, John Joseph, appointment as stenographer 4/15 George, Harold L., salary approved at 02,500 per annum as secretary to Comptroller 6/30 Peiffer, Louise E., resignation 2/11 Counsel: (General) Harrison, George L., resignation 5/27 Counsel's Office: Angell, Liontgomery B., appointment 2/26 Bradley, C. S., salary increased 6/30 Cox, W. F., salary increased 6/30 Croghan, (Mrs.) O. Id., salary increased 6/30 Dyer, Sara A., salary increased 6/30 Div. of Analysis & Research: Adams, M. R., salary increased 6/22 Cameron, H. II., appointment at 01,500 per annum on full time basis, to work an three-fourths time basis 3/2 Chapman, J. LI., appointment for sixty days requested 1/6 Appointment approved 1/7 Chapman, J. M., salary increased 6/22 Cornwall, Ruth, salary increased 6/22 Davis, Dorothy S., appointment as statistical clerk 5/11 Heller, Rose, salary increased 6/22 Johnson, Mary, leave of absence for month without pay 4/21 Johnson, Mary, salary increased 6/22 Jones, F. W., salary increased 6/22 Jones, F. W., salary increased to ',)3,000 per arra= 6/30 Kobayashi, Arata, appointment as half-tire employee 6/22 Powell, Myrtle, appointment for sixty days,reauested 1/6 Appointment approved 1/7 Rice, Y. H., appointment for thirty day period,subject to renewal, approved 2/20 Ross, Alice, salary increased 6/22 Smyth, A. L., appointment for sixty days requested 1/6 Appointment approved 1/7 Will not report for duty; advice re, 1/20 Snodgrass, Katherine, salary increased 6/22 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3.52 433 353 584 168 489 23,6 584 554 584 584 556 229 3,4 ZZ 566 666 456 666 402 666 666 651 666 3.4 P.2 195 666 azram Page Staff of F. R. Board: (continued) Div. of Analysis & Research: (continued) 6/22 Steiner, W. H., salary increased sixty of period Stickney, Thomas B., appointment for 1/20 days, vice A. L. Smyth 6/22 Williams, Faith, salary increased 6/30 annum per Williams, Faith, salary increased to c)2,500 6/22 Youngman, Anna, salary increased Div. of Issue & Redemption: 4/5 Cobb, Lilytee C., salary increased 4/5 Crafford, Ada F., salary increased 4/5 increased Dashiell, Searing T., salary 4/5 Devine, Eva LI., salary increased 4/5 Drawett, Annie M., salary increased 4/5 Heale, Myrtle S., salary increased 4/5 increased Hinsolving, Julia, salary 4/5 increased Martin, Martha J., salary 3/10 resignation Eason, Evlyne B., 4/5 increased salary P., Meade, Fannie 4/5 Murray, Thomas J., salary increased /5 4 increased salary olesenberry, C. B., 4/5 increased salary Reoder, Dorothy M., 4/5 Sheffer, Mary E., salary increased 4A increased salary Snead, Susan V., 4/5 increased salary P., Hallie Tharp, 4/9 resignation Thomas, Robert, 3/4 increased salary Wedderburn, Helm P., Examination: Div. of Operations & Schopp, Arthur J., appointment as stenographer with 1/15 western examining force & Div. of Reports Statistics: Larcier, (Miss) D. K., appointment as stenographer 1/12 and typist, vice L. B. Davis Ryan, Grace M., appointment as stenographer and 5/25 typist Scudder, D., appointment as assistant statistical 4/11 accountant, vice G. W. Holt, resigned Smith, Florence E., appointment as key-punch operator 3/11 Walker, S. A., appointment as stenographer and typist 4/29 Excused at 1 P. M. an all Saturdays during period Juno 156/10 Sept. 15, 1920 Settlement Division: Gold Clerk-stenographer at ..;2.25, and three stenographers at1.50 each, per evening; employment of,approved, instead of four stenographers authorized. Feb. 25th.3/9 Comley, Lorne C., appointment as stenographer and 6/10 typist and hour an for stenographers male four of Employment 2/25 a half work each evening http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 556 72 556 584 556 345 345 345 345 345 345 345 345 258 345 345 345 345 345 345 345 366 237 56 42 484 380 261 420 536 255 538 207 Staff of F. R. Board: (continued) Gold Settlement Division: (continued) Good, George E., salary increased 3/2 Halsted, John P., resignation 1/12 Johnson, Walter, resignation 6/10 Ogilvie, Valliant J., resignation 4/6 O'Hare, (Liss) E. , appointment as stenographer, effective upon reporting for duty 2/6 Winkler, F. H„ appointamt as clerk, vice John P. Halsted, resigned. 1/15 Governor Harding's Office: McClelland, E. M., appointirent as stenographer 5/11 Male stenographer ,jualified to act as substitute secretary to members of Board; Gov. authorized to engage, at 02,000 per annum 1/29 McDermott, A. 1.1., resignation as confidential clerk to Chairman of Board 2/6 Mail & Files: Merriman, Carolyn M., appointed file clerk 5/25 Messengers: Rogers, Ulysses S., probationary appointrent, with understanding of permanent appointment, if satisfactory 2/11 Watkins, F. L., probationary appointment with view to permanent position 2/24 Mr. Hamlin's Office: Moore, J. P., transfer as private secretary to Mr. Hamlin, effective March 15, 1920 3/2 Mr. Miller's Office: Reed, Jay L., resignation as private secretary 5/27 Mr. Platt's Office: Durland, Joseph L., appointment as private secretary 6/8 National Bank Redemption Agency Force: Caruthers, (Mrs.) E. R., resignation as clerk-counter 2/18 Currency counters; employment of thirty additional, at 01,040 per annum, approved 1/23 Currency counters; services of the 150 temporary, to be discontinued after April 25th. 3/31 Dnployment of twenty-five additional currency counters, at $1,040 each, per annum, approved 2/11 Estes, Nancy J., resignation as clerk-counter 2/11 Evans, A.1thea, resignation as clerk-counter 2/11 Houser, Alberta B., resignation as clerk-counter 2/20 liulvey, Sallie, resignation as clerk-counter 2/2/1 riuber, Janet B., resignation as clerk-counter 1/27 O'Leary, Mary V., resignation as clerk-counter 2/19 Oswell, Charlotte Ann, dropped from roll owing to continued absence 2/4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2.29 42 536 1.52 152 56 261 152 484 168 0 49z- 59 3.67 95 326 168 168 166 196 109 19° 140 Page Staff of F. R. Board: (continued) Officers and Chiefs of Divisions: Certificate of office for; motion by Mr. Miller 5/10 that Board furnish, Organization chart affecting, (See auxiliary minute 4/12 book of date) Plan of classification and salary ranges for employees; 5/14 memo. of Secretary recommending, Plan approved by Governor and Secretary directed 5/25 to mako effective of Currency: Redemption Division of Office of Comptroller Employment of two laborers for temporary assignment 2/20 to, approved 4/24 period Employment of four laborers for temporary 1/12 Herbert, Daisy H., resignation as clerk-counter 1/12 unter clerk-co as Ricketts, Marie Gordon, resignation Salaries: Adjustments of, of employees, in accordance with new plan of classification, effective July 1st. ,1920 (See auxiliary minute book on salaries, personnel 6/30 file) Secretary's Office: 3/11 Bethea, Markley, resignation 5/19 Giucevich, Kate, resignation 3/2 Foulk, O. E., transferred to, as Supply Agent Mooney, Frances J., appointment as stenographer & 6/8 typist 5/29 Morey, Esther, resignation 4/16 Tibbs, Joseph F., resignation Supply Agent: Foulk, O. E., transfer to Secretary's office as, 3/2 effective March 15th. Telephone Operators: Clarridge, Violet, transfer to War Risk Insurance 2/27 Bureau to Treasury from transfer Gross, Catherine E., 2/27 F. R. Board roll Printing: & Engraving of Vault Clerk at Bureau Rowan, William J., appointrant as, under Board's 3/31 authorization of February 9th. for charts graphic prepare to Weber, Albert, employment 4/16 use in F. R. Bulletin and various publications State and Municipal Bonds: Withholding of offerings of, in view of present financial conditions; letter from C. B. Denison & Co. of Boston, 1/12 suggesting, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 443 367 458 481 195 407 42 42 585 261 468 230 526 504 388 230 216 216 325 388 38 C=ZTI 1 rage State Bank & Trust Co. of Harrodsburg, Kentucky: Resolution of withdrawal from System, with request for date from which six months' period required by law must be figured 2/2 State Bank Membership Committee of F. R. Board: To be instructed to discontinue activities in re par point campaign, to prevent misconstruction of attitude of Board in re, 2/24 State Bank Memberships: Telegram from Board to FRBanks re increasing, explaining Mr. Moehlenpahls letter of February 27th. 2/28 State Bank of Plentywood, Plentywood, Montana: Change in condition of membership, making effective date of charge off, collection, or renewal of criticized loans, April 1, 1920 3/6 State Bank of Trumansburg, New York: Notice of withdrawal from System 3/26 State Banks & Trust Companies: Entrance into FRSystem: See Auxiliary Minute Book. See also Membership in F. R. System. State Banks entering System: Deposits of gold for capital and reserve by; telegram from RAgent Heath re, 1/21 State banks in Montana applying for membership; change in condition re accumulation of surplus, suggested 4/12 Above approved 4/13 State Banks in New York: Stringent regulations imposed by New York State law in re power of, to establish branches; memo. of Mr. Hoxton suggesting, in view of, Board waive condition of admission No. 2 2/3 State bxnks possessing extraordinary powers; adoption of general condition to be imposed upon membership of, reccraended by Law Committee 2/19 State Institutions: Code to be used in advising RAgents of conditions imposed upon membership of, 2/2 State Member Banks: Advertisements of; draft of letter submitted by General Counsel for transmitting to FRBanks re, 4/5 Status of borrowings of, with Mai* of Dallas 5/15 State of Georgia: Revised banking laws for, suggested by Country Bankers/ Association, submitted by FRAgent McCord 6/30 Reply of Governor 6/30 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 121 199 219 24.5 309 76 368 316 166 129 461 681 681 CX=VII State of Mississippi: Act of legislature of, designed to prevent F. R. System from enforcing provisions of Section 16 of Act in re exchange charges by non-member banks; with statement 3/6 by Gov. Harding Legislation of, providing for depositors' guarantee fund upon eligibility of State banks for membership in 5/19 F. R. System; letter to St. Louis re, State Savings Bank, Caro, Michigan: Memo. of Mr. Imlay advising of notice of intention to 1/23 withdraw from System Statement showing member banks whose borrowings from RBanks were in excess of capital and surplus, Jan. 31, 1920; attention called to, and statement ordered furnished 3/18 weekly, including item re reserves Statements of Condition: See"Condition Statements" Statements showing classified holdings of U. S. war obligations and war paper of reporting member banks; memo. of Mr. 3/25 Jacobson recommending discontinuance of, 3/31 Discontinuance of, approved Stock: Capital: First National Bank of Commerce, Texas; recommendation of Comptroller for approval of application for 2/20 reduction in capital stock Mercantile Bank of the Americas; advice from, of in1/22 crease in capital stock Milford National Bank, Milford, reduction in capital stock to C125,000 2/5 Reduction in, of a F. R. Bank; opinion of Counsel revested as to whether, in case of, its general surplus of loo,:; should be reduced proportionately 6/9 Reduction of, by national banks, While at same time borrowing from bRBanks and city correspondents; request from Comptroller as to Board's views re, 4/5 Stock Cattle: Draft of letter to Monks, submitted by Mr. Moehlenpah, in re extending accommodations to farmers carrying; action re, 5/28 Stockton, Philip: Letter from, giving reasons for placing of embargo on gold exported from United States 2/19 Strauss, Albert: Letter from, to Deputy Gov. Case of New York, re United States as gold market 3/9 3/5 ' Letter of resignation, with The President's reply k http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 245 464 93 281 302 325 194 86 144 532 342-43 497 191 249 239-241 Page Strauss, Albert: (continued) Letter to Acting Director, Div. Foreign Exchange, authorizing purchase of certain open market acceptances by Hew York in connection with stabilizing exchange rates between U. 3. and China 1/30 Memorandums of, re Control of issue of F. R. notes, giving views as to method 3/4 Resolution adopted upon resignation of, as member of Board 3/16 Statement in re regulation of exchange between. U. S. and East, of accumulation of silver dollars by Treasury and desire to deposit same with RBanks in anticipation of overdrafts 4/26 Stroc;k, J. B. Letter from, to Secretary of Treasury, criticizing situation with respect to discount rates 1/16 Struthers Savings and Banking co" Struthers, Ohio: Failure of, reported, stating no loss sustained by ERBank of Cleveland 4/8 Sub-Treasuries: Bill providing for abolition of; letter from Chairman of House Banking & Currency Committee submitting copy of, for comment by Board 2/6 Superintendent of Banks, State of Michigan: Suggestion from FRAgent Heath that Board send letter of appreciation to, for cooperation in increasing memberShip of State banks in System 2/11 Gov. authorized to transmit appropriate letter 2/11 Supply' Agent, F. R. Board: Foulk, O. E., designation as, effective March 15th. 3/2 Swift & Co. Acceptances of; letter from Deputy Gov. Peple of Richmond re; •Miecutive Secretary authorized to visit Richmond in connection with same 3/9 Copy of letter from, to member bank in Fourth District, re financing shipments for packers under acceptance credit 5/27 2.36 276 61-6 s6z 469 tITII Tabulation Cards: Disposal of old; memo. of Mr. Jacobson re, 4/27 Talley Clearing Plan: Protests against abolition of, from various member banks in Eleventh District 1/17 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 41.° 66 Page Tax Exemption Certificate Form: Submission of, by Asst. Counsel Angell, entitling officers and employees of FRBanks to exemption from Federal tax on railroad and Pullman tickets when traveling on 6/29 official business Tax Exemptions: Partial exemption on securities issued by corporations organized under Edge Bill; memo. of W. S. Kies with 1/29 suggestions re, 3/29 Tax upon deficiencies in reserves; memo. of Counsel re, Telegraph Operators, Leased Wire System: See under "Leased dire System" Telegraph service between Kansas City and Omaha Branc • con5/15 tract covering, Telegraphic Circuit: ' See "Leased dire System, 2/11 Telephone booth authorized installed in Secretary's office Texas Bank & Trust Co., Galveston, Texas: Application for admission to System; expedition in matter of, re,luested by FRAgent Ramsey; Board favor1/13 able, subject to certain conditions System; memo. of Counsel for admission Application to 1/22 submitting, approved as recommended membership approved, subject to certain Application for 2/4 change in condition of admission admission of; letter from upon bank Conditions imposed with further reference to, together with form of 3/19 advice prepared by Counsel 2/17 Counsel upon admission of; memo. of Conditions imposed of chan;i7e of name and of Counsel re effect Memo. location of member bank in connection with alteration 1/12 of name of payee of bill by, Texas Bankers: Granting of hearing to certain, re,luested, to protest against method of calculating reserves to become 1/29 effective Feb. 12th. Plan to change method of calculating required reserves 2/3 of FRBamks discussed by committee of, and FRBoard Preparation of report by comittee of, authorized,outlining plan under new method of calculating reserves 2/3 which conforms to Fact, for action by Board Thomas (Senator): Letter from, re Treasury certificates of indebtedness; policy of Treasury Dept. in re interest rates on; also 3/17 letter from Secretary of Treasury re, Above letter of Senator Thomas referred to 3/23 Secretary of Treasury for reply http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 580 118 317 462 162 46 86 141-42 283-84 180 40 117 137-38 138 277 294 CXL 4/16 Tibbs, Joseph F., resignation Time Schedule for Transit Items: F. R. Bank of St. Louis; letter from Board to,approving 3/30 H., President First Federal Foreign Banking Corp. Titus, Request from, that construction be placed upon agreement of corporation with Board 6/22 6/22 Draft of reply approved Trade relations between United States and Canada; bettering of, by appointing special representative of Canadian Govt. in each consular district in U. L;.; advice from Canadian Society of Philadelphia re, 5/5 Transfers: Charges on, imposed by members of Spokane Clearing House Association; letter re, 5/5 "Jail; purchase of, by FRBank of Dallas, on New York and other eastern cities; statement of certain bankers in Eleventh District re,re,luestin,; same not be discontinued 3/25 Transportation Act of 1920: Committee on Railroad Securities organized under, its expenses to be met by F. R. Board 3/29 Name of committee organized under, as "Committee on Railroad aecurities" changed to "Railway Loan Advisory Jommittee" 4/1 Travel allowance of F. R. examiners; method for increasing; memo. of Lir. Hoxton re, 3/13 Treasury Certificates of Indebtedness: See "Certificates of Indebtedness" Trowbridge, A. 3., Consulting Architect: Advice from, that he had. received no estimate of cost re building program of FRBank of Boston 1/20 Copies of contract, specifications and drawings covering proposed vault construction tests forwarded by, for signature 2/3 Letter re contractors for erection of vault testing structure; bid of Eatthev's Construction Co. of Princeton accepted 1/22 Recommendation for acceptance of bid of New York Sage and Lock Co. to install vault in proposed new building for :MBank of Philadelphia 1/30 Report of, recommending acceptance of bid of George A• Fuller Co. to construct new bank building for FRBank of Kansas City 4/e Visits of, and assistant, to plants manufacturing vaults for FRaInks, authorized 4/12 Tweedale, Alonzo, Treasurer of U. S. Shipping Board: Re:uest for advice re status of certain foreign banks 1/26 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3. 0 Gni trUV II Page Union National Bank, Muskegon, Michigan; 5/14 Application of, for fiduciary pomrs, held Union Stock Yard & Transit Co., of Chicago: Letter from, reviewing livestock situation in the U. S. 6/9 United States as Gold Market: Letter from Er. Strauss to Acting Gov. Case of New York 3/9 bearing upon, United States Bituminous Coal Commission; Dr. E. A. Goldenweiser, Asst. Statistician, to represent Board at informal conference called by, to discuss 5/27 coal collected by Federal Departments and Agencies United States Bonds: Applications for sale of, held by Treasurer of United States to secure national bank circulation under 3/23 Section 18 of F. R. Act of dispose F. R. Bank of Kansas City in position to certain 4;L; advice re, reluesting views of Board as 3/27 to same; Board favorable United States Grain Corporation.: Settlement desired by, with MBank of New York, for German gold purchased from corporation; statement by Gov.re,3/11 Proposed basis for settlement, submitted by MBank 3/12 of New York United States Secret Service Division: Letter to Chief of, re raising of notes by Arthur C. Dunkleman, Asst. Chief of Money Div. of MBank of N.Y.6/24 United States Senate: Resolution of, re coercion by Board or FRBanks in connection with par collections, tosether with letter from 1/20 Senator Norris in re same 1/27 above re Draft of reply in United States Shipping Board: Information reQuested by Treasurer of; statement by Mr. Strauss that proper steps had already been taken 1/29 to furnish, Letter from Alonzo Tweedale of, asking advice re status 1/28 of certain foreign banks ninn. Duluth, J., N. Upham, Reply of Gov. Harding to letter from, re 4uestions of 4/30 practice and policy of P. R. System Upshaw, W. D., Representative of Georgia: Conversation between, and Gov. Harding, re par collection 2/2 of checks; memo. of, Printing: & Engraving of Bureau Vault Clerk, Appointment of, by Board, as custodian of F. R. notes, 2/7 re,luested by Mr. Leffingwell Appointment approved, clerk to be subject to orders of Secretary of Treasury, and Board not being 2/9 responsible http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 455-56 532 249 490 290 311 260 269 571 72 110 119 112 422 126 154 157 CXLII page Vault Clerk, Bureau of Engraving & Printing: (continued) Opinion of Counsel re, 2/9 Rowan, William J., appointed vault clerk 3/31 Vault Construction: F. R. Bank of Boston: Permission requested by Bank to adopt plans of own construction engineer 2/18 F. R. Bank of Philadelphia: Character of construction for proposed new vaults of; recommendation re, from Consulting Architect Trowbridge 1/13 Report of Architect and Engineers on plans for, at F. R. Bank of Boston, forwarded by Deputy Gov.Spencer 2/17 Vault Construction Tests: Copies of contract, specifications and drawings covering proposed, forwarded by Consulting Architect Trowbridge, for signature 2/3 Vault Testing Structure: Estinate of Matthews Construction Co. of Princeton, N. J. for erection of, accepted 1/22 Report re progress of work in connection with vault testing structures, from Consulting Architect 4/9 Vaults for F. R. Banks: Visits of Consulting Architect and Assistant to plants manufacturing, authorized 4/12 Virgin Islands: Detail of Assistant Counsel Angell to Treasury Dept. for purpose of accompanying Treasury's representative to, re nested by Secretary Houston 3/26 151 326. 181 46 179 133 87 366 368 Wan Waggoner, D.E., President, Security National Bank of Dallas: Letter from, suggesting amendment to FRAct to guarantee, by FRBanks, non-interest bearing deposits of member banks 1/26 Reply of Mr. Moehlenpah 1/29 7/all, Alexander: Letter from, suggesting Board become research member of Robert :orris Associates; approved 4/12 Paper War Holdings of P. H. Banks: Lemo. of Mr. Jacobson analyzing, 1/6 Warehouse Receipts: Eligibility for acceptance by national bank of draft drawn by French Anance Corporation and secured by, eta.; request from National Bank of Connerce, New York, for ruling re, 2/6 Opinion of Counsel that drafts drawn to carry goods for indefinite period not eligible 2/9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3, 118 389 166 Page Warehouse Receipts: (continued) F. R. lInks to be instructed to ascertain length of tire goods have remained in warehouse before ac.juiring 3/9 paper secured by, General Counsel instructed to prepare letter to FRBanks containing codification of Board's rulings re paper secured by, 3/9 Practice of national bank examiners.in passing as eligible paper notes secured by, covering automobiles; memo. 1/7 of Counsel re, Comptroller to call attention of examiners to 1/7 Bo-rd's ruling re, Preferential rate an paper secured by receipts for goods stored in special warehouses; letter from Director of Georgia 3tate Bureau of Markets re, 1/2 Preferential rates on paper secured by receipts for goods in bonded warehouses; memo. of Counsel re, 2/11 Right of Board to approve preferential rate on paper secured by receipts issued by bonded uurehouses; opinion of Counsel re, 4/17 Warwick, 1. W. See "Comptroller of the Treasury" Watson, Williams & Co., of New Orleans: Opposition of, to soldier bonus bill 5/20 Weber, Albert, employment of, to prepare graphic charts for use in 2.R. Bulletin and various publications 4/16 deekly Reports on Discount Rates: Discontinuance of, where no Changes are contemplated; • letter to Chairmen of FRalaks re, 3/4 Weekly reports shaainG loans secured by stocks and bonds;discontinuance of, approved 5/15 Weekly statement of condition of RBanks; figures showing combined reserve against note and deposit liabilities of each 4RBa.n.k ordered published in, 6/24 Weekly statement of FRBoard shawing principal resource an/ liability items of reporting member banks in leading cities; certain changes approved in, 3/8 Weakly staternnt, ordered furnished by Statistical Dept. showing holdings by member banks in F. R. cities of paper secured by Liberty bonds, Victory notes, and Ti. certificates of indebtedness 3/8 Wheat Industry: Ea:pectod conference in Chicago on May 7th. of representatives of; letter from U. S. -dheat Director Barnes re, inviting Board to be represented 5/5 F. R. Agent t Chicago authorized to attend 5/5 Whiskey in Bonded Warehouses: Eligibility for rediscount of acceptances drawn against; negative opinion of Counsel re, 4/8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 250 250 21 21 4 164 179 472 388 235 461 567 248 248 434 434 362 0:CLIV Willis, Dr. H. Parker: Letter from, re limiting size or circulation of F. R. Bulletin to conserve print paper 6/22 Progress report submitted by, an investigation into salaries paid by Binks to employees receiving ,5,000 per annum, or less 1/6 publication of 2.R. Bulletin in two sections recommended by, approved 6/29 7ilson, President Woodrow: Letter from, to Mr. Strauss, upon resignation of latter from Board 3/5 Wireless Telegraph: Installing of e,uipment for, between RBanks and branches, suggested by FRB.xnk of Kansas City 4/17 Wisconsin Bankers' Association: Invitation to Mr. Modhlakpah to attend annual meeting of group one of, at Chippewa Falls, Wisconsin 1/21 aiscansin Banks in Seventh F. R. District: Placing of all, on par list, effective March 1st., subject to Board's approval;, notice from Chicago 1/26 dithdraaals from F. R. System: See'V.embership in F. R. System: Withdrawals:" Woodward, William, of New York Clearing House Association: Letter from, asking Board's views re rates on bank balances 1/10 Wool Growers: Letter expressing appreciation to Board for courtesy Shaun Committee of, from its Chairman, and submitting proposed statelielit to press re plan for meeting wool situation 6/22 Wool Growing Industry: Conference in Chicago of those interested in, called by certain U. S. Senators; Board re iuested to send representatives 6/15 Telegram from Board to FRAgents at Chicago, Kansas City, and 11innaapolis, reluesting attendance 6/15 Wyatt, Walter: Application of James T. =Man to serve as director of First and Old Detroit National Bank, the Detroit Savings amk, and Union Trust Co., all of Detroit; memo. re, Letter from Representative Doremus re, Application approved Memo. of, in re application of A. A. Kramer to serv as director of three banks in Kansas City, 110. Application approved as to Columbia National Bank and. Union Avenue Bank of Commerce http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis