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INDEX January - June 1 9 22 page Accept up to 1oo5L, power to, granted American-Liberty Bank & Trust Co., New Orleans, La. Mercantile Trust Co., an Francisco Merchants Bank, Mobile, Alabama New York Trust Co., New York City Seaboard National Bank of New York Acceptance Credits: Abuses practiced by certain member banks in matter of granting; memo. of Comptroller to Board re, Acceptances: Bankers': Covering import and export transactions; discussion re, Offered for rediscount by member banks at Minneapolis; Board authorizes regular rate used for commeraial paper to obtain upon, Open market purchases of, Atlanta establishes minimum rate of 21,V; on, Atlanta establishes minimum rate of 3: 7 j„ on, Atlanta establishes minimum rate of 3k; on, Boston establishes minimum rate of 315; on, Chicago establishes minimum rate of 2k; on, Chicago establishes minimum rate of 3% on, Chicago granted authority to reduce rate on, to 3j;; Cleveland establishes rate of 3,: an, Dallas establishes minimum rate of 34;; on, Dallas establishes minimum rate of 4% an, Minneapolis establishes minimum rate of 3,;; an, 1 ; on, New York establishes minimum rate of 24 1 on, New York establishes minimum rate of 3;; New York establishes minimum rate of 3,1% on, philadelphia establishes minimum rate of al; on, Philadelphia establishes minimum rate of 3k; on, Philadelphia suggests reduction in minimum rate on; Board would approve reduction to 31E; 1 on, Richmond establishes minimum rate of 312/0 St. Louis establishes minimum rate of 3,-,L an, St. Louis establishes rate of 31-k,; at, 6 /29 3/ 6 5 /12. 3 /22 5 /4 331 123 233 156 223 5 /22 251 3 /15 148 4/ 7 179 6 /28 4 /25 4 /17 1 /27 6 /27 4/5 1 /20 4 /25 6 /13 1 /16 4/7 6 /22 4/ 7 1 /20 4/ 7 1 /20 325 205 193 63 317 175 48 205 295 41 179 315 180 44 179 45 1 /18 5 /25 4 /14 1 /25 38 262 188 54 II page Acceptances: (continued) Bankers': Open market purchases of, (continued) 4 /14 San Francisco establishes minimum rate of 3,; on, san Francisco establishes minimum rate of 3kL on, 1 /20 Revision of Regulations of F. R. Board covering eligibility and procedure in matter of, representing import and export transactions 3 /20 Letter to FRBanks designed to accompany Regulation, as amended 3 /20 Telegram authorized sent FRBanks giving text of amended Regulation, in view of intimation having reached the press of revision 3 /27 Cotton Factor: Letters from Board re ruling as to, forwarded Senators Sheppard and Culberson, and Representative Briggs, 3/ 1 all of Texas Domestic: Ruling upon questions re; memorandum of General counsel submitting, and recommending same be published to 1 /9 Federal Reserve Bulletin Sterling drafts; proposed letter to FRBaak of Boston re 6 /22 acceptance by American national banks of, Trade: Atlanta auttorized to establish minimum rate of 4",',; on 5 /29 open market purchases of, Cleveland authorized to establish minimum rate of 4% on 6 /12 open market purchases of, 6 /27 r on Dallas authorized to establish minimum rate of 4;c, of, purchases 6 /13 open market on minimum 37; rate of establish to authorized New York 6 /22 open market purchases of, on of 4; rate open establish to authorized New York 5 /31 market purchases of, General RBanks; Counsel by of, purchases market Open 5 /23 directed to prepare draft of regulation covering, Philadelphia authorized to establish minimum rats of 3144 6 /22 on open market purchases of, minimum rate establish of 4% on to authorized Richmond 5 /29 open market purchases of, minimum establish rate of on to 4% authorized Louis St. 6/5 open market purchases of, establish minimum 31ri; of to rate authorized San Francisco 6/1 on open market purchases of, 186 44 153 153 165 116 16 315 265-1 293 319 295 315 270 255 315 265 280 273 III Page (continued) Acceptances: Trade: (continued) Suggestion from Xx. Warburg for adoption of lower rate for, than current rate for commeraial paper; referred to forthcoming conferences of Federal Advisory Council and Governors of FRBanks Agricultural & Live Stock Paper: Six months; ruling of Board re discount by any FRBank of, up to 99;,; of its assets Agricultural Paper: Eligibility of paper of certain agricultural borrower for discount; letter from Board to Kansas City re, Alabam4 Bankers' Association: Governor Harding to address 'convention of, in Mobile during May American Bankers' Association: Letter from Secretary of Clearing House Section of, re proposed plan whereby the twelve ERBanks shall be Indicated alphabetically an all checks, and branch designations carry abbreviation of city where located "No Protest Symbol plan" recommended by Clearing House Section of, in 1916; letter from D. A. Mullen suggesting new survey by RBanks re matter of, Reply from Charles DeB. Claiborne, Chairman of Committee of Five of, to letter from Governor Harding re H. H. Bill 10071, having reference to collection of checks at par Two letters addressed by Board to Secretary of Clearing House Section of, re "no protest" limitation and numerical system of Association American Credit Indemnity Co. One hundred and twenty-five copies of June Bulletin ordered furnished to president Treat of, without cost Ameriaan Institute of Banking: Contribution of $2,600 to local chapter of, by MBank of Chicago American National Bank of pendleton, Oregon: Application of, for authority to surrender its permit to exercise fiduciary posers formerly granted by Board; memorandum of Division of Examination re, American National Bank of Three Forks, Uontana: Reduction in capital stock of, in sum of ,15,000 Ameriaan tiociety of Certified public Accountants: Letter from, to Board, requesting latter's cooperation in securing legislation to raise status of certified public accountants in District of Columbia 3 /29 168 5/3 219-20 1 /11 22 3/ 3 119 5 /19 243 5 /19 242 3 /24 160 6 /27 321 6 /20 305 5 /22 249 1 /25 56 3/9 131 1 /16 31 Iv American Trust Co., Charlotte, N. C. Complaint from, that FRBank of Richmond had declined, as ineligible, certain paper of Hunter Manufacturing Company Anderson, Hon. Sidney, Chairman of Joint Committee on Agricultural Inquiry: speech of, recently delivered in Baltimore, to be referred to in body of Board's Annual Report, and published in full in Appendix Anglo-South American Bank, New York City: Letter from Board to, re opening of letters credit by national banks; ordered circulated Approved, and ordered transmitted Annual Report, F. R. Board: Draft of, completed; Board desires to postpone examination of same until in galley proof form Galley proof of, far 1921, approved by Board, subject to amendment printing of appendix to, authorized, giving summary of results of Board's questionnaire re exercise of fiduciary powers by national banks Board votes to omit above matter from Annual Report Recent speech of Hon. Sidney Anderson ordered referred to in body of, and published in full in Appendix Assessment against F. B. Banks for elpenses of F. R. Board for six months period beginning July 1, 1922 Assistant F. R. Agents: See under "F, R. Agents - - Assistant" Assistant Secretary of the Treasury Wadsworth: Program submitted by, for engraving and printing Federal Reserve notes Associate Statistician, E. A. Goldenweiser: Increase in salary of, recommended Report of Committee on, Salary increase approved Attorney General: Opinion of, concurring in opinion of General Counsel of F. R. Board, that surplus fund of F. R. Banks is properly liable for unearned dividends Auditors, F. B. Banks: Calling of conference of, at stated times, suggested by FRAgent Perrin; to be considered at meeting of Advisory Committee of Governors and FRAgents 4 /10 184 1 /13 29 2/8 2 /17 82 99 1 /13 29 1 /30 67 3/1 3 /15 116 144 1 /13 29 6 /20 307 3/9 132 1 /9 1/9 1 /11 14 21 26 5/1 216 1 /le 39 V page Bank of Alameda, California: 2/ 1 Establishment of trust department by, authorized Bank of Italy, San Francisco: Branches: 6 /28 Application for establishment of certain, Bakersfield Group; Board approves acquisition and conversion into branches of banks in, as approved by 4 /21 Messrs. Mitchell and miller Certain correspondence between FRBank of San Francisco and W. G. McAdoo re establishment of; letter from Board to 5 /15 San Francisco re, Condition of membership No. 8 originally imposed upon; letter from Board to Bank of Italy re, transmitted through 1 /18 FRAgent Perrin 1 /18 Letter approved, Eight additional; authority granted to acquire gradually, in two groups of four each; letters from Gov. Harding 1 /18 and :zr. Mitdhell 1/18 Eight additional, requested, through acquisition of certain banks known as Bakersfield and Marysville Groups; letter from ERAgent perrin re; matter discussed by Board with Ex-Senator Sutherland of firm of Counsel for Dank of 1 /11 Italy First National Bank of Paso Robles, Cal.; authority granted 2 /13 Bank of Italy to take over, and operate as branch Home Savings Bank, Woodland, Gal.; Bank of Italy granted authority to acquire, and operate as branch, under 6 /29 certain conditions Letter from Mr. Mitchell to ERAgent perrin re establishment 1 /20 of; transmission of, authorized Marysville Group; Board authorizes establishment as 2/ 3 branches of banks in, known also as Group 2 from letter acquiring; Policy and procedure in matter of 2/1 FRAgent Perrin re, and Board's reply Italy granted of Bank Oakland, Cal.; The Broadway Bank, authority to acquire, and operate as branch under 6 /29 certain conditions The First National Bank of Woodland, WoodLand, Cal.; authority granted Bank of Italy to acquire, and operate 6 /29 as branch under certain conditions The Old Bank, Hanford, Cal.; Bank of Italy granted authority to acquire, and operate as branch under certain 6 /29 conditions of Bank Obispo, Cal.; Luis san Union Bank, National The Italy granted authority to acquire, and. operate as 6 /29 branch under certain conditions Views of Board re matter of acquisition of; Mr. Perrin 1 /18 and Bank of Italy to be notified re, 1 /la Letter re, approved 72 330 200 237 42 43 41-2 43 25 92 333 48 73-4 71 333 333 333 333 42 43 VI page Bank of Italy, Ban Francisco: CorrespondJnce between President of, and &Agent perrin, re criticisms of ERSystem in address delivered by A. W. Hendrick, 1 /le Vice President of Joint Jtock Land Bank of California Detailed comments by, concerning loans criticized by 3tate Banking Department 5 /31 Bank of Tennessee, Nashville, Tenn. Controversy between, and FRBank of Atlanta, re purchase of certain Government securities with agreement to repurchase; letter from Board to Atlanta re, 1 /6 Bankers' Acceptance Committee: Meeting of General, in Chicago, June 12th.; General Counsel of Board authorized tb attend, 6/1 Bankers' Meetings in Bixth District: Deputy Governor Campbell of Atlanta to attend certain, in lieu of Governor :iellborn 3 /13 Banking & Currency Committee of House of Representatives: Letter from Chairman of, submitting House Bill 8399 re Section II of RAct, inquiring whether necessary to have provisions of, extended to October 31, 1922 1 /20 Banking Commissioner of Wisconsin: Letter from Board to, re applications of banks in Wisconsin to exercise fiduciary powers 1 /13 Banque Nationale Juisse: Appointed agent of &Bank of New York in Switzerland 4 /28 Barks County Trust Co., Reading, Pa. petition of, that Board waive one of conditions of membership originally imposed upon, referred to Law Commtttee 5/6 petition denied by Board 6 /29 "Better Banking": printing and distributing to member banks of pamphlet entitled; A1Bank of New York granted authority for, 4/ 7 Bicycle: purchase of, and equipment for use in messenger service between Treasury and Otis building, authorized by FRBoard 5 /10 Birmingham & Northwestern Railway Co. Form of loan for 475,000 to, 3/1 Bonds: F. R. Agents and Assistant F. R. Agents: Baskin, John G., Assistant FRAsent at Detroit Branch; bond approved at 450,000 4 /10 5/15 Boardman, Charles Knight, Assistant MAgent at Kansas City; bond for, approved at 450,000 2/1 Bowron, Thomas, Assistant Alagent at Birmingham; bond approved in amount of 4'100,000 5 /17 Cobbs, James B., Assistant IllAgent at Birmingham Branch; bond approved in amount of i$100,000 5 /17 38 270 11 272 141 48 31 213 221 331 181 230 116 182 236 70 236 238 VII page Bonds: (continued) F. R. Agents and Assistant F. R. Agents: Donohue, Charles Scott, Acting Assistant RAgent at 4 /28 Richmond; bond approved in amount of 450,000 Dudley, Albert H., Assistant RAgent at Richmond; bond 1 /9 approved for,in amount of 450,000 Faulkner, Peter J., Assistant FRAgent at Cincinnati Branch; 3/ 3 bond approved for, Haughton, M. H., Assistant RAgent at Jacksonville Branch; 5 /25 bond approved at $100,000 Jones, Thomas U., Assistant RAgent at Pittsburgh; bond approved for, 3 /20 Lee, R. H., Assistant FRAgent at Richmond; official bond a /3 approved for, Martin, George M., Assistant RAgent at Jacksonville 5 /12 Branch; bond approved in amount of 4100,000 maigs, D. U., Assistant FRAgent at Denver Branch; bond 5 /29 approved in sum of 450,000 Nevin, Joseph C., Assistant RAgent at Cleveland; bond 1 /20 approved in amount of 450,000 potter, C. O., Assistant RAgent at Nashville Branch; 5 /12 bond approved in amount of 4100,000 Ramsay, Asa E., &Agent at Kansas City; bond for, 2/ 1 approved at 4100,000 Tyler, W. F., Assistant FRAgent at Nashville Branch; bond approved in amount of 4100,000 5 /12 No applications received by Treasurer's office for sale of, 6 /27 under Seation 18 of FRAct, for quarter ending June 30th. Borden, D. 0., Chief National Bank RTAminer of Second District: Letter from, re deposits carried by East River National Bank of New York with banks in Italy and other European countries 2 /10 Boston & Maine Railroad: 6/1 Form of loan for 45,000,000 to, Branch Banks, Domestic: Bank of Italy, San Francisco: 6 /28 Application of, for establishment of certain branches Authority granted, to acquire eight additional branches gradually, in two groups of four each; letters from 1 /18 Gov. Harding and Mr. Mitchell 1/18 Authority granted, to acquire First National Bank of Paso Robles, Cal., and operate same as branch 2 /13 Authority granted, to acquire Home savings Bank, Woodland, Cal*, and operate same as branch under certain conditions 6 /29 Authority granted, to acquire The Broadway Bank, Oakland, Cal., and operate same as branch under certain conditions 6/29 212 16 120 261 151 120 233 266 46 233 70 233 318 89 273 330 41-2 43 92 333 333 page Branch Banks, Domestic: (continued) 3an1c of Italy, San Francisco: Authority granted, to acquire The First National Bank of Woodland, Woodland, Cal., and operate same as branch under certain conditions 6 /29 Authority granted, to acquire The Old Bank, Hanford, Cal., and operate as branch under certain aonditions 6 /29 Authority granted, to acquire The Union National Bank, San Luis Obispo, Cal., and operate same as branch under certain conditions 6 /29 Bakersfield Group; Board approves bank acquiring and converting into branches of banks in, as approved by Messrs. Mitchell and Miller 4 /21 Certain correspondence between FRBank of San Francisco and W. G. McAdoo re establishment of branches by; letter from Board to San Francisco re, 5 /15 Condition of membership No. 8 originally imposed upon; letter from Board to bank re, transmitted throagh RAgent Perrin 1 /18 Letter approved 1 /18 Correspondence between President of, and &Agent Perrin, re criticisms of ERSystam in address delivered by A. W. Hendrick, Vice president of Joint Stock Land Bank of California 1 /18 Detailed comments by, conlerning loans criticized by State Banking Department 5 /31 Eight additional branches, request for, through acquisition of certain banks known as Bakersfield and Marysville Groups; letter from ERAgent Perrin re; matter discussed by Board with Ex-Senator Sutherland of firm of counsel for Bank of Italy 1 /11 Letter from :a'. Mitchell to RAgent Perrin re establishment of branches by; transmission of, authorized 1 /20 Marysville Group; Board authorizes establishment as branches of banks in, known as Group 2 2/ 3 Policy and procedure in matter of acquiring branches; letter from RAgent perrin re, and Board's reply 2/1 Views of Board re matter of acquisition of branches by; mr. perrin and Bank of Italy to be notified re, 1 /18 Letter re, approved 1 /18 California, branch bank developments in; report of Messrs. Miller and Mitchell re, 5 /2/1. California, branch bank question in; progress made by metiers, liller and Mitchell in investigation of, 4 /17 / " California; proposal that two members of Board go to California to make investigation re acquisition and control of branch 2/3 banks by State member banks in, 2/ 6 333 333 333 200 231 42 43 38 270 25 48 73-A 71 42 43 259 196' 74 80 Ix Page Branch Banks, Dowastia: (continued) Carolina Banking & Trust Jo. of Elizabeth City, N. C., 6 /27 authorized to establish branch at Columbia, N. C. Citizens State Bank of Sawtelle, Cal.; advice from San Francisco of intention to establish branches at Santa 1 /30 Monica and Beverly Hills, Cal. Citizens State Bank of Sawtelle, Cal., application of, to establish branches at Santa Monica and Beverly Hills; 2 /24 request from lAgent perrin that Board withhold approval Matter referred to Messrs. Miller and Mitchell to take up with 3Bank of Jan Francisco upon occasion of forth— 3 /24 coming visit to RBank Citizens State Bank of Sawtelle, Cal., authorized to establish branches in Beverly Hills and Santa Monica, Cal., upon in— 5 /19 crease in capital to 4150,000 Citizens Trust & Savings Bank, Columbus, Ohio, granted 2/ 4 permission to establish local branch Cleveland Trust Co., Cleveland, Ohio, authorized to absorb and operate as branches, Garfield Savings Bank & Lake Shore Banking & Trust Co., with existing branches of the two 1 /30 absorbed institutions Los Angeles Trust & Savings Bank: Application of, to establish branches at 912 South San Pedro Street, ani 222 North Spring Street, Los Angeles; held, without action, pending return of Messrs. Miller and 4 /21 Mitahell to Waabington Melrose of vicinity in branch establish Authority granted, to 5 /19 Avenue and Heliotrope Drive, Los Angeles additional three convert into and Authorized to acquire branches four banks at Long Beach, Hanford, & Lindsay, Cal., 4 /21 as approved by Messrs. Mitchell and Miller Authorized to establish branch at 923 West 2nd. Street, 5/1 Los Angeles, Cal. Authorized to establish branch for use as agency or receiving station for deposits, at 1060 North Western Ave., Los 5/3 Angeles Authorized to establish branch an South Flamer Street, 5 /29 Los Angeles Authorized to establish five branches to replace same number of branches of Bank of Santa Maria and Commercial & Savings Bank of Santa Barbara, as approved by Messrs. Mitchell and 4 /26 Miller Authorized to establish seven branches in Los Angeles, the same to be merely agencies or local receiving stations 5 /4 for deposits Authorized to establish two additional branches in Los Angeles, 5/8 one on North Broadway, and one on West Seventh Street 5 /15 Location of two above branches ahanged 316 66 108 162 244 75 66 201 244 200 217 220 265 209 223 227 236 X 1.)ag Branch Banks, Domestic: (continued) Los Angeles Trust & Savings Bank: (continued) Authorized to establish two branches in Pasadena, one at corner of Los Robles and cast Colorado streets, and one on East Colorado Street 5/6 Contemplated acquisition of thirteen banks by, with view to consolidating same into nine branches; Board approves tentatively 2 /15 correspondence between FRAgent at San Francisco and President of First National Bank of Los Angeles re tentative approval by Board to establishment of certain branches by, 2 Letter from RAgent at San Francisco making further reference to above matter 2 /24 Letter from RAgent Perrin making additional Observations and recommendations re perrrassion granted, by Board, to acquire certain banks as branches; Board makes no change in previous action 3 /29 Letter from President of, re tentative approval recently given by Board to acquirement by, of eleven banks for conversion into nine branches, urging consummation of transaction by one operation 3/ 1 Reply of Board to letter from AlAgent Perrin re establishment of branches by, 5 /17 Tentative approval of Board given to acquisition by, of First National Bank of Hollywood, Cal., and conversion of same into branch 2 /24 Massachusetts Trust Co. of Boston granted authority to absorb Haymarket National Bank and maintain present quarters of latter as branch 1 /30 Member state banks in Los Angeles; establishment by, of agencies or currency depots in Los Angeles 4 /28 Mercantile Trust Co. of Jan Franzisco authOrized to acquire First National Bank of Berkeley, and Berkeley Bank of Savings and Trust co., and establish three branches in Berkeley, Cal. 2/15 Mercantile Trust Jo. of San Francisco authorized to establish branch at corner of Collesp and Ashby Avenues, Berkeley,Cal. 3 / 3 pioneer Bank of porterville, Cal., authorizel to purchase Farmers & Merchants Bank of Exeter, Cal., and establish branch at latter place 2/ 6 Security Trust & Savings Bank, Los Angeles, Cal. Authorized to acquire Eagle Rock Bank of Eagle Rock,Cal„ and convert same into branch 5 /is Authorized to acquire First National Bank of South Pasadena, South Pasadena savings Bank, and Highland Park Bank, and convert same into two branches located at south Pasadena and Highland park, Cal. 5/1 Authorized to acquire two banks in Glendale, Cal., for conversion into one branch, as approved by Messrs. Mitchell 4 /21 and Miller PA 227 96- 108 100 160 116' 240 108 66 21 96 120 80 236 218 200 XI Page Branch Banks, Domestic: (continued) Security Trust & Savings Bank, Los Angeles, Cal. (con.) Authorized to establish branch at corner of Western Ave. & Sierra Vista Street, Los Angeles 4 /25 4/25 State bank members of ERBank of San Francisco; specific information re branches of, requested by ERAgent perrin, 5/8 in view of Gov. Harding's letter of April 28th., 1922 Valley Bank of Fresno, Cal., granted authority to purchase Selma National Bank and Farmers Savings Bank, of Selma,Cal., 1 /25 and establish branch at latter place Valley Bank of phoenix, Arizona, authorized to acquire Gila Valley Bank & Trust Co. of Globe, Arizona, and 5 /19 operate offices of latter as branches Wachovia Bank & Trust Jo. of Winston-Salem, N. J.; permission 1 /27 granted, to establish branch at Raleigh, N. 0. Branch Banks, FRS: Baltimore: Oeburn, Carter G., election as director, to succeed 6 /20 C. O. Homer, deceased Salaries: 2 /13 Adjustments in, recommended Dudley, Albert H., Manager, increase in salary recom2 /17 mended 2 /20 Salary approved at 410,000 per annum Staff: Bradley, Richard, revoking of appointment as Assistant FRAgent and appointment as Manager of Discount Dept, 4 /17 Donohue, O. S., appointment as Acting Assistant FRAgent 4 /17 Birmingham: Board of Directors at RBank of Atlanta to hold regular 3 /13 May meeting at Birmingham Brandh Bonds: Bowron, Thomas, Assistant RAgent, bond approved in 5 /17 amount of $100,000 Cobbs, James B., Assistant RAgent, bond approved in 5 /17 amount of 4100,000 Salaries: 1 /20 Employees; changes in salaries of certain, Staff: 3 /13 Certain changes in personnel reported by Atlanta Buffalo: Salaries: 1/9 Employees; increase in salaries of, 1 /11 Sohneckenberger, W. W., Manager, salary increased Staff: Theobald, Elmer L., appointment as Assistant Cashier, 3 with increase in salary 205 206 227 56 245 63 305 91 100 103 195 195 140 238 238 49 141 18 27 AO 134 Fag' (continued) Branch Banks, FRS: Cincinnati: Bonds: Faulkner, Peter J., Assistant FRAgent, approval of 3/3 official bond for, Denver: Bonds: Meigs, D. J., Assistant flAgent, bond approval for, in sum of $50,000 5 /29 Quarters: Letter from President of Interstate Trust Co. of Denver re, 1 /18 Lot acquired for new building; request for permission to exchange, 5 /31 Plans for proposed new building; authority to proceed with, granted by FRBoard 3 /13 Salaries: 1 /20 Burkhardt, C. A., Manager, salary increased Detroit: Bonds: Baskin, John G., AssistantFRAgent, bond approved for 4 /10 in sum of 450,000 5 /15 2 /27 By-laws; amendment to, By-laws; proposed amendment to, for increasing compensation paid directors for attendance at meetings of 1 /25 Discount Committee Quarters: New building; selection of architect to draw plansfor 4 /26 proposed, Salaries: Dept., salary increased 6 /12 Christie, S J., FRAgen Staff: Batzell, Henry 11., additional compensation granted, for 1 /16 work done in 1921, and salary increased for 1922 El paso: Gold in vaults; letter from MlAgent Ramsey to Board re advisability of removing, owing to unsettled conditions in Mexico 6 /29 Quarters: Bank building and vaults; letter from Consulting Architect to Board giving advice re cost of, 5 /10 Helena: Counsel, T. B Weir, increase in salary 6 /is Manager, resignation of 0. A. Carlson as, ara appointment 2/1 of B. V. Moore 2 /3.5 Officers; election of, 120 36 271 138 51 16; 238 11 56 209 29/ 34 0 229 301 70 94 Page 6 , 1 i8 29 0/ 0 4 Branch Banks, iRS: (continued) Helena: Salaries: Schumacher, R. D., Assistant Cashier, salary approved at 4 /17 43,000 per annum 6 /15 'c,eir, T. B., Counsel, salary increased Staff: 2/1 Manager, resigmtion Carlson, 0. A /1 2 Moore, B. V., appointment as Manager bank, parent Shifting of personnel between branch and 2 /17 and certain salary changes in connect/en therewith, Houston: r),uarters: Bank building and vaults; letter from Consulting Architect 5 /10 to a:Board giving advice re cost of, Jacksonville: Bonds: Haughton, LI. H., Assistant FRAgent, bond approved at 5 /25 4100,000 5 /12 of 3100,000 amount in approved Martin, George 11., bond 1 /20 of certain, salaries in Employees; changes Salaries: 2 /20 Changes in payroll (See correspondence in files) /20 1 increased Jr., salary MeLarin, W. S., Staff: 4 /21 Employee; dismissal of, reported (See files) of dismissal and transfer, Employees; employment, 1 /5 several, at branch and head office FRAgent Assistant Acting Haughton, II. H., appointed during temporary absence of Assistant &Agent Martin 3 /10 5 /22 New employee, appointment of, with Teller, Clerk to Chief from hite, C. J., promoted 4 /21 increase in salary (see files) made being replacements Cuba, by to, shipped currency Unfit 5 /17 to Cuban Government by Branch, less :charges Little Rock: Quarters: Bank building; matter of, ordered docketed for March 3 /22 24th. Board interposes no oujection to FRBank of St. Louis securing bids for building, the FRBoard to be 3 i'24 notified re nature of bids New building; meeting of delegation from Arkansas with BaBoard to urge necessity of proceeding at once with 3 /20 construction of, Salaries: Officers and employees;increases in salaries of certain, 1 /11 194 301 70 70 99 229 261 233 49 103 50 201 6 135 250 201 239 158 159 154-5 27 Branch Banks, FRS: (continued) Los Angeles: Manager; re-election of, for 1922 1 /18 Staff: Assistant examiner's; appointment of three, 1/25 Assistant examiners; designation of certain employees as, 3/9 Louisville; Farm Loan Agency at Louisville; suggestion from, that loans for Kentucky be concentrated at Louisville Branch 1 /25 F. R. Board approves concentrating at Louisville Branch all applications for loans to War Finance Corporation originating in Kentucky 1 /30 Salaries: Officers and employees; increases in salaries of certain, 1 /11 Memphis: Salaries: Employees; increases in salaries of certain, 1 /11 Nashville: Bonds; Potter, C. U., Assistant FilAgent, bond. approved in amount of $100,000 5/12 Tyler, W. F., Assistant illAgent; bond. approved for, in sum of $100,000 5 /12 Hartford, 71, H., appointment of, as building committee of one, at $10 per day, for services in connection with new branch building; advice re, 4 /21 Letter from Atlanta re above appointment; matter referred to Gov, Harding with paver 5 /8 Hartford, -tV. H,; request from Atlanta for authority to pay $300 per month to, for services in connection with construction of new building; action withheld 3 /13 3 /20 Disapproved Quarters: Bank building; improvements arxi additions to, 1 /26 Building committee of one; appointment of W. H. Hartford as, at $10 per day, for services in connection with new bank building; advice re, 4 /23. Building; matter of, docketed for Jan. 26th. 1 /25 New building; authority requested by Atlanta to pay 71. H. Hartford $300,00 per month for services in connection with construction of, 3 /13 Disapproved 3 /20 Salaries: Z /a) Changes in payroll (See correspondence) 1 /20 Fort, J. B., Jr., Cashier, salary increased =Tamara, Jo B. Manager, salary increased 1 /20 40 58 130 58 , 67 26 21 23J 231 201 236 141 181 63 201 58 141 151 101 50 50 XV Page Branch Banks, FRS: (continued) Nashville: Staff: 5 /22 certain additions to personnel reported (See files) 3 /13 Certain changes in personnel reported by Atlanta Employees; appointment of new, and resignation of old, 4 /21 reported (See files) 1 /20 Employees; changes in salaries of certain, Orleans: New Building committee; payment of 410.00 per meeting to 3 /13 members of, authorized quarters: New bank building; formal action taken by Atlanta re letting of contracts and proceeding with erection of, 3 /13 New bank building; letting of contracts for, at approximately $800,000, exclusive of vault doors, 3/9 authorized 5 /22 New bank building; progress made in construction of, 5 /29 New bank building reported under construction Salaries: 1 /20 Black, W. H., Assistant Manager, salary increased 2 /20 Changes in payroll (See correspondence) 1 /20 Employees; changes in salaries of certain, 1 /20 Walker, James A., Cashier, salary increased Staff: Certain changes in payroll and personnel reported 5 /22 (See file) 3 /13 Certain changes in personnel reported by Atlanta 4 /21 Resignations and dismissals reported (See file) Oklahoma City: 1 /30 Auditor; appointffent and salary of Oliver A. Leamon as, Quarters: 6/5 Bank building; commencement of work on, hay 23rd. Bank building; delegation from Tenth District met with Board to urge that Kansas City be authorized to 3 /20 advertise for bids and begin construction of, Bank building; letting of contracts for construction of, 5 /4 authorized, cost being estimated at $461,580 Bank building; matter of, ordered docketed for meeting 3 /22 March 24th. Board interposes no objection to FRBank of Kansas City securing bids for building, the Board to be 3 /24 notified re nature of bids /20 6 Bank building; progress of construction an, Bank Wilding and vaults; letter from Consulting Architect 5 /10 Trowbridge to Board giving advice re cost of, Salaries: 1 /20 Wunderlich, R. 0., Cashier, salary increased 250 141 201 49 140 139-40 133 249 266 50 103 49 50 250 141 201 66 281 155 225 158 159 305 229 51 uch Banks, ERS: (continued) Oklahoma City: (aontinue d) Staff: Leamon, Oliver A., appointixent and. salary as Auditor 1 /30 Omaha: Salaries: Earhart, L. H., Manager, salary increased. 1/20 pittsburgh: Jones, Thomas M., Assistant RAgent, bond approved for 3/20 portlani: Manager; re-election of for 3.922 1/18 Staff: Assistant examiners; appointment of three 1/25 Ouarters: See under various Branches Salt Lake City: Manager; re-election of, for 1922 1 /le Staffs Appointment of new employee, with salary (See aorrespondenae) 3 /15 Assistant evaminers; appointment of three, 1 /25 Moore, L. Ii., appointment as special examiner 2/ 1 Swartz, George C., employment for temporary work in connection with War Finance activ it le a 1 /13 Seattle: Manager; re-election of, fa. 1922 1 /18 Staff: Assistant examiners; appointment of two, 1 /25 Spokane: Manager; re-election of, for 1922 1 /18 Starr: Appointment of new employee with salary (See corns spondenae) 3 /15 Assistant examiners; appointment of three,1 25 Branch Banks, Foreigp: International Banking Corporation; certain national bank examiners to examine European branches of, during trip to Europe in near future 6 /29 Broughten, W. S., Commissioner of public Debt: Letter from, suggesting Board. request FRBanks of New York, Boston and Chicago to send. representatives to Washington to consult with Currency Committee of Treasury Dept. 3/20 Budget & Accounting Act of 1921: Application of, to RBoard; memo. of Assistant Counsel Freeman. re, 6/6 Secretary instructed by Board to acquaint persons in charge of accounting of 41Board with contents of above namorandum 6/? 66 51 3.61 40 58 40 148 68 70 30 40 68 40 3.48 58 160 284 page Buildings, F. R. Banks: See under “Quarters, F. R. Banks!' - Quarters See under various F. R. Banks Bulletin Committee: Memo. of, re personnel and scope of work of Division of 3 A4 Analysis & Research Bureau of Domestic and Foreign Commerae of Dept. of Commeroe: Request from Director of, for permission to remove Chicagp 3 /20 District Office of, to quarters in FRBank of Chicago Bureau of the Budget: Eddy, Walter L., Assistant Secretary of FRBoard, designated, at request of Director, as Board's representative to meet 6 /27 with representatives of other departments upon call Business conditions: Monthly report of, prepared by certain FRAgent; criticism 1 /30 re BY-Laws, F. It. Boards 5 /24 Appointment of special committee to revise, Attention called to Section 1, Article 4 of, re members of 1 /20 Executive Committee of FRBoard Proposed amendment to, re matter of recording votes of members 6 /29 of FRBoard 160 150 320 67-8 259 46 332 "en California: Acquisition and control of branch banks by state member banks in; proposal that two members of Board go to California to 2/ 3 make investigation re 2/ 6 Branch bank developments in; report of Messrs. Miller and 5 /24 Mitchell re, loans and warehouse deposits, Discussion re special time building associations in, by Board with Superintendent of 6/5 Banks of State of California special against banks in, member certain Reserves carried by savings deposits; Mr. Edward Elliott of Los Angeles to 5 /23 meet with FRBoard on June 14th. to discuss, committee Board; and Elliott between Discussion Ur. 6 /11 appointed to investigate and report an matter Capital Stock: See under i'Stode* Carley, J. B, Vice President of First National Bank Grand Forks, N. D. Forks, of Bank Grand National First Board to, re Letter from 3/8 of customers one its in attorney fact for as N. D., acting 71 80 259 279 253 299 126 Carolina Banking & Trust Co., I:lizabeth City, N. C. Authority granted, to establish branch at Columbia, N. C. 6 /27 Central Reserve et Reserve Cities: St. Louis; application of certain banks for designation of, as reserve City, instead of central reserve city, to be considered May 25th. 5 /23 Matter docketed for May 31st. St. Louis; petition from St. Louis Clearing House Association /25 for declaring, a reserve city, instead of a central reserve city 1 /16 Latter to be brought up at meeting of Board, Feb.lst. 1 /26 Latter postponed, owing to unavoidable absence of Mr. Mitchell an Feb. 1st. 1 /27 petition declined by Board 1 /30 St. Louis; reclassification as reserve city, instead of central reserve city 5 /31 St. Louis; reduction in reserves of outlying banks in, to an demand, and 3;;. on reserve, deposits 6 /5 Certificates: Soldier bonus; reply of Gov. Harding to Senator Robinson of Arkansas re suggestion of certain banker of Arkansas that rIRBanks and member banks be allowed to invest 5c), of reserves In proposed, 3 /15 Certificates of Indebtedness: purchase by FRBank of Boston of 42,000,000 of U. S. short time, as investment /9 Treasury certificates; letter from Under Secretary of Treasury re suggestion recently made by him to FRBanks re investments in, 5 /31 Certified public Accountants: Cooperation of Board requested by American Society of, in matter of securing legislation to raise status in D. C. 1 /16 Charge Offs: F. R. Bank of Chicago: Depreciation and anticipated losses for 1922, charge off for, authorized 1 /9 Chattanooga, Tenn. Application from three banks in, that Chattanooga no longer be classified as a reserve city 6 /27 Banks advised hearing will be granted them by Board re matter of, 6 /29 Checks: Proposed plan of American Bankers' Association whereby the twelve FIRBanks shall be indicated alphabetically on all checks, and branch designations carry abbrevation of city where located 5 /19 318 256 20 34 62 64 67 271 280 14 15 270 34 14 32 334 24 XIX Page g 8 13 k ) / 71 30 0 5 70 I I 21 34 0 , Chelsea Fireproof Storage Warehouses: Contract given to, by Board, for transporting by motor certain equipment of Division of Analysis & Research from New York to Washington 4 /21 Chesapeake & Ohio Railway Co. Form of loan for 45,338,000 to, in four parts, carrier taking down fourth installment in amount of 41,334,500 5 /23 Cnicago, Milwaukee, & St. Paul Railway Co. . Form of loan for 425,000,000 to, 2 /24 Circulars, F. R. Board: F. R. notes, engraving and printing; letter to FRBanks re carrying out suggestions of Assistant Secretary of Treasury re, 3/ 9 Lianner of reporting clearings to FRBoard; circular letter re, forwarded all FRBanks 2 /17 Negotiability of notes secured by chattel or real estate mortgages; circular re, with letters relating thereto, 2 /4 Transmitting supply of pamphlets to RRBanks containing replies to questionnaire sent out Oct. 12, 1921, to national banks granted permission to act in fiduciary capacities 6 /13 Cisco & Northeastern Railway Co. Form of loan for 494,000 to, 2 /al Form of loan for 431,000 to, 3 /13 Form of loan for 4111,450 to, in four parts, carrier taking over first part, in amount of 427,863 4 /2.5 Form of loan far $111,450 to, in four parts, carrier taking over second part in amount of $27,863 6 /28 Citizens Bank of Lake Wales, Florida: . liodification of one of original conditions of membership 2 /4 Citizens State Bank of Sawtelle, cal. Application of, to establish branches at Santa Monica and Beverly Hills; request from FRAgent perrin that Board withhold approval of, 2 /24 Matter referred to Messrs. Miller and Mitchell to take up with RBank of San Francisco upon occasion of forthcoming visit to FRBank 3 /24 Authorized to establish branches in Beverly Hills and Santa Monica, Cal., upon increase in capital to $150,000 5 /19 Intention of, to establish branches at Santa Monica and Beverly Hills; advice from San Francisco re, 1 /30 Citizens Trust & Savings Bank, Columbus, Ohio: . Permission granted, to establish local branch 2/4 City National Bank of Dallas, Texas: Letter from Chairman Tenison of Board of, suggesting appointment of R. L. Van zandt as ERAgert at Dallas 5/a City of Cleburne, Texas: Case of FRBank of Dallas against; FRBoard authorizes payment of i'1,000 to firm of attorneys for services in connection with, 6/2 202 254 107 132 100 77 297 107 139 206 325 76 108 162 244 66 75 226 276 rd( pal Claiborne, Charles DeB., Chairman of committee of Five, American Bankers* Association: Reply of, to letter from Governor Harding re H. R. Bill 10071 having reference to collection of checks at par 3 /24 collection: Circular letter of Board to RBanks re manner of reporting clearings to FRBoard 2 /17 Clearing House Section of Arwrican Bankers* Association: "No protest Symbol plan" recommended by, in 1916; letter from D. A. 2:u1len suggesting new survey by aBanks re matter of,5 /19 Two letters addressed by Board to, re "no protest" limitation and numerical system of Association 6 /27 Clearing Housos: Weekly reports from certain, in each district, re total debits to individual accounts made during the week; letter from Board to FRAgents requesting securing of, 1 /3 Cleburne, Texas: Case of 2R3ank of Dallas against city of; FRBoard authorizes payment of 41,000 to firm of attorneys for services in connection with, 6/2 Cleveland Trust co., Cleveland, Ohio: Application of, to absorb and operate as branches Garfield Savings Bank & Lake shore Banking & Trust co., with existing branches of the two absorbed institutions; approved 1 /30 Commercial National Bank of Los Angeles, Cal. possible conversion of, into state institution; advice from FRAgent perrin re, 1 /25 commercial National Bank of Wilmington, N. C. Report of examination of, forwarded by Gov. Seay of Richmond, with comment thereon; matter referred to comptroller of the Currency 5 /19 Commercial State Bank of Detroit, '..liChigan: Waiver of condition of membership imposed upon, by FRBoard, re establishment of branches, left to discretion of FRAgent at Chicago 6 /12 Commercial State Savings Bank of Detroit: Disposition of YRBoard to grant application of, for membership in System; repay of Chicago to letter from Board advising re, 4 /14 Commissioner of Banking of Wisconsin: Letter from Board to, re capital required of national banks in Wisconsin exercising fiduciary powers 1 /25 commissioner of public Debt: Letter from, suggesting Board request ERBanks of New york, Boston & Chicago to send representatives to 'Washington to consult with Currency Committee of Treasury Dept. 3 /20 clearing & le VC 20 321 1 2.11 66 56 29 3. 51 16C Page Committees: Eligibility Committee of V. R. Banks: Suggestion of Deputy Governor Harrison of New York for holding conference of, re general policy of inter-bank 1 /20 converences; Board's reply of Efficiency of Committee Twelve on FRBanks: General Advice re appointment of, in accordance with resolution 2 /27 adopted at last Governors' Conference Leased '3ire: Appointment of sub-committee of, consisting of representatives of Board and PRBanks of New York, Cleveland, and 2 /10 Chicago, to study and report an Leased Wire System Treasury Currency: Final report of, subnitted to Board and approved, having 5/1 previously been approved by Secretary of the Treasury Committees, F. R. Board: Appointment of committee to investigate conduct of office of FRAgent at Dallas, and authority granted same to incur any 3/6 necessary expenses Appointment of gpsaial, consisting of Messrs. Platt, Miller 5 /24 and Mitchell, to revise by-laws of RBoard Bulletin: Memo. of, re personnel and scope of woxit of Division of 3 /24 Analysis & Research Executive: Attention called by Governor Harding to Section 1, Article 4 of by-laws of FRBoard, re members of Executive 1 /20 Committee place of as memoer of, in elected John R., Mitchell, 1 /20 Mr. Miller Forms Committee: 3 /24 Messrs. Eddy, Jacobson, Smead and Herson appointed as, Internal Economu and Comparative Efficiency: Auxiliary committee of; Mr. Mitdbell and Mr. Miller 1 /20 authorized to select successor to Governor Calkins an, Calkins, Gov. J. U., of Jan Francisco, resignation as member 1 /20 of, Chief of Board's Division of Reports and Statistics authorized to attend conference of, in Chicago, April 4 /19 24th. Meeting of operating representatives of twelve ERBanks to 3 /15 be called by, in Chicago, April 24th. Report by Mr. Miller that Committee will meet with 3/ 6 auxiliary committee of, in Washington,in near future Supplementary committee of Board's Committee on; Deputy Governor S. J. Cramer of Chicago designated as memoer 01,3 / 8 3 /13 Appointment accepted by Mr. Cramer 47 113 89-90 217 122 259 160 46 46 163 47 47 197 148 124 128 140 Fag Committees, H. Board: Internal Economy & Comparative Efficiency: supplementary committee of Board's Committee on; Gov. Strong of New York designated member of, 3/6 Governor Strong requests that he be excused from serving on committee 3/ 8 messrs. platt and Hamlin appointed committee on disposition 4 /10 of useless papers of VRBoard mr. Miller and „jr. Mitchell designated as committee to go to San Francisco and investigate branch bank situation in California 2/6 Comptroller of the Currency: Complaint made to, by member Dank in third district, re quality of service rendered by RBank of Philadelphia in executing an order for purchase and sale of securities; Governor authorized to secure information re, 4 /28 H. R. Bill 8996 re calls for statements of condition of national banks by Comptroller of the Currency; views of Board re, transmitted Senator McLean 6 /13 Inquiry from Minneapolis whether ruling has been issued by, authorizing national banks to establish branches in cities in which are located the bead office; Board advises no such ruling 5 /22 Memorandums of, to Board, re Acceptance credits, abuses practiced by certain member banks in matter of granting, 5 /22 Office of, Giovanetti, Henry G., appointment and salary as stenographer 1 /4 Polk, (Mrs.) Irene B., resignation 1 /4 lieports of condition furnished by, to alBanks; letter from FRAgent at New York re payment for; matter to be discussed at next Governor's Conference 3/ 6 Condit ion Reports: See laeports of Condition" Conferences: Between representatives of RBanks of Boston, New York, and Philadelphia and FRBoard, re inter-district transit time schedules 6/2 Governors': 5 /23 Minutes of, transmitted Board by Secretary Harrison No date set for next conference; Board's attention called 2 /27 to, by Governor Harding Designation of May 2, 1922, as date for holding naxt 3/ 6 conference Procedure followed by iliBoard in approving or disapproving 6 /15 action taken by; letter from George L. Harrison re, VA ig8 3.0 80 ZO 296 a 2s1 5 5 1Z! 21 25 Page Conferences: (continued) Governors': (continued) Recommendations made by; letter to vRthanks re procedure to be followed oy RBoard in taking action upon, 3 /24 Informal conference between Deputy Governor Drerson and Director Sansom of Dallas with FRBoard, re conduct of office of ERAgent at Dallas; Board authorizes Gov. Harding to investigate 2 /10 Inter-Bank: General policy of; letter from Board to Deputy Governor Harrison re suggestion for holding conference of 1 /20 :Illigibility Committee of ERBanks re, Van zandt, B. L., with ERBoard, re administration of the ERBank of Dallas, and failure of National Bank of Cleburne, Texas 4 /25 Consolidations: First State Bank of Alamogordo, New Mexico; absorption by, Of Peoples State Bank and Alamo State Bank of Alamogordo 6 /22 First state Savings Bank, Evart, Michigan, and Evart Savings 13412k, into Evart State Bank 6 /21 Monroe County Bank of Monroeville, Alabama, with Bank of 2 /27 Monroeville, Alabama Oak park Trust & Savings Bank of Oak Park, ill., authorized to take over State Bank of Oak park 6 /28 Peoples Bank and Commstraial Bank, both of Athens, Ga. 3/8 Qonsulting Architect: Bill forwarded by, received from firm of patent attorneys, in connection with protecting processes developed as 2 /13 result of recent vault tests Complaints from manufacturers of bank vaults that replies of, to inquiries from member banks re results of recent 3 /13 vault tests, jeopardize their business Controversy between, and MBank of Richmond, re request from Richmond for written report on result of recent vault tests 1 /13 Governor Harding and Mr. Mitchell authorized to go to New York to discuss with, matters relating to FRBank 2/8 buildings Letter from, giving advice re costs of bank buildings and 1;1 Paso, Houston and Oklahoma City 5 /10 vaults at : Letter from, recommending Board approve erection of new building for FRBank of St. Louis on cost plus basis; 5 /15 disapproved Report submitted by, re vault tests conducted at Washington and Sandy Hook 6 /is Required by Board to submit report setting forth details and results of all vault tests made under his direction 1 /13 161 90 47 207 314 310 111 326 127 92 137 30 &I 229 237 302 30 psi Consulting Architect: (continued) Suggestion of, that portion of salary paid Mr. Ten Eyak by &Board be reduced from $4,000 to 02,500 per annum 1 /11 Economist: Consulting Designation of Dr. H. P. Willis as, in ohArge of FRBulletin effective July 1, 1922 3 /03 Conversions: Commercial National Bank of Los Angeles, possible conversion of, into State institution; advice from Agent Perrin re 1/25 Conway National Bank, Conway, Mass. Reduction in capital stoat of, from $50 000 to 025,000, authorized 2 /910 Cotton Factor Acceptances: Board's ruling re; letters from Board to Senators Sheppard and Culberson, and. Representative Briggs, all of Texas,re 3 / 1 Counsel (General): Authorized to attend I:resting of certain &Agents in New York March 30th., for purpose of considering question of reserve requirements 3 /29 Directed by Board to prepare draft of regulation covering open market purchases of trade aoceptances by &Banks 5 /23 Office of, Purchase of oertain law books for, 4 /14 Opinions of, re Limitation of 0250,000 prescribed by Congress in recent amendment to &Act re quarters of FRBants includes both cost of land and erection of Wilding 6 /28 purchase of Government securities by FRBanks for their can a000unt, stating Board has legal right to impose restrictions upon, 4 /14 Surplus rand of FRBants, holding properly liable for unearned dividends; opinion concurred in, by Attorney General 5/1 Rulings of, re Acceptances, domestic, reoommending publishing of ruling in RBulletin 1 /9 Reserves against liabilities resulting from receipt and use of trust funds 4 /19 Cox, Welter Se, Shorthand Reporter: Renewal of arrangement by FRBoard with, at same rate 4 /21 Cramer, S. B., Deputy Governor, RBank of Chicago: Designated by Board, as member of Supplementary Committee of Board's Committee on Internal Economy & Comparative Efficiency 3/8 Appointment accepted by Mr. Cramer 3 /13 23 0 89 116 168 10 16 10 00 10 Page ag 3 6 9 16 0 526 9 L6 Credit: National banks; letter from Board to Anglo-South American Bank of Nev York City re opening of letters credit oy, 2/ 8 2 /17 Ouba: Bills for submission to Cuban Congress, known as National Reserve Act an Cuban Bank Act; request from Secretary of Treasury for Board's opinion re, and Board's reply 2 /13 Proposed arrangements for supplying surrency to, by ERBank of Atlanta through Havana Branch of National City Bank of New York 1 /9 Disapproval of, by Secretary of Treasury, and Board's . action of Jan. 9th. in matter, rescinded 2/8 Proposed plan of Atlanta to supply, with currency; memo. re operation and cost of, 1 /25 Unfit currency Shipped by, to Jacksonville Branch, the branch making replacements to Cuban Government, less charges 5 /17 Cuban Bank Act: Proposed bill known as, for submission to Congress of Cuba; request from Secretary of Treasury for Board's opinion re, 2 /13 with Board's reply Cumberland, •,7. W. Letter from, re new banking system established by Republic 3 /29 of peru, modeled after laSystem Currency Committee of Treasury Department: Final report of, submitted to Board and approved, having previously been approved by Secretary of the Treasury 5/1 Letter from Commissioner of public Debt suggesting Board request FRBanks of New York, Boston and Chicago to send 3 /20 representatives to dashington to consult, Report of, submitted by Under Secretary of the Treasury, defining fit currency and detailing ratio of fit notes to total amounts sent Treasury Department for redemption by 4 /10 several ERBanks Juba: Operations in Currency Proposed plan of Atlanta to undertake; mono. re operation 1 /25 and cost of, 82 99 91 13-14 83 55 239 91 169 217 150 183 55 L91 ilD11 ,30e; Davis, John Ws, Counsel in Par collection Case Against FRBank of Atlanta: Retainer of .A0,000 authorized paid to, to be pro rated 1 Al 25 among the several FRBanks De Nederlandsche Bank, Amsterdam: 3 /10 135 Proposed agreement between, and FRBank of New York Department of Jominerce: Bureau of Domestic & Foreign Commerce of; request from Director for permission to remove Chicago District Office 150 3 /20 to quarters in FRBank of Chicago Pa Deposits: East River National Bank of New York, deposits carried by, with banks in Italy and other 1.;uropean countries; letter from Chief National Bank Examiner Borden of Second District 2 /10 re Dickinson Trust Co., Richmond, Indiana: Closing and reopening of; letter from RAgent Heath of Chicago re, 3 /31 Directors: Aaltimore Branch: Osburn, Carter G., election of, to succeed C. C. Homer, deceased 6 /20 Detroit Branch: proposed increase in amount paid directors for attendance at meetings of Discount Committee, and. reduction in amount paid for attendance at regular directors' meetings 1 /25 F. R. Bank of St. Louis: Annual meeting of, at head office and branches, to be held JUMB 7th., a member of the FRBoard being invited to 5 /22 attend Los Angeles Branch: 1 /la Re-election of, for year 1922 Pittsburgh Branch: McCune, John. R., appointed to fill unexpired term of 3/2 Harrison Nesbit Nesbit, Harrison, resignation as director 2 /15 portland Branch: Re-election of, for 1922 1 /18 Salt Lake City Branch: Re-election of, for year 1922 1 /18 Seattle Branch: Re-election of for 1922 1 /18 Spokane Branch: Re-election of, for 1922 1 /18 Directors, Class "A": F. R. Bank of Dallas: LicKinney, B. A., authorized to continue as Class "A" director until expiration of term of office 1 /16 Directors, Class "C": F. R. Bank of San Francisco: Sproule, William, propriety of, serving as Class flan director, while Park Commissioner of san Francisco 2/1 "Dis-Coin" plan: participation by national banks in; memo. of hr. Wyatt to Comptroller of the Currency re, 4/ 7 Discount Rates: See also ',Rediscounts,' 89 VI ZO 40 111 40 40 40 40 70 16/ Page Discount Rates: F. R. Bank of Atlanta: Bankers' acceptances; minimum rate of 221% establidhed on open market purchases of, Bankers' acceptances; minimum rate of 3$ established on open market purchases of, Bankers' acceptances; minimum rate of 3 established on open market purchases of, Bankers' acceptances; minimum rata of 3t; established on open market purchases of, Gommercial paper; rate of 4,,V, establishei on, Trade acceptances; minimum rate of 4;7., established on open market purchases of, P. R. Bank of Boston: Bankers' acceptances; minimum rate of 21.;, 47 established on open market purchases of, Bankers' acceptances; minimum rate of 37 2 established an open market purchases of, Bankers' acceptances; minimum rate of 3kL established on open market purchases of, Rate of Lk; fixed on all rediscounts and advances of all maturities, with minimum rate of 21/2 on open market purchases of bankers' acceptances P. R. Bank of Uhicago: Bankers' acceptances; minimum rate of 2t; established on open market purchases of, Bankers' acceptances; minimum rate of 34;!, established on open market purchases of, Bankers' acceptances; rate of 3% authorized on open market purchases of, Rate of 41% established an all paper of all maturities, effective March 25th. P. B. Bank of Oleveland: Bankers' acceptances; minimum rate of 3121;.; established on open market purchases of, Bankers' acceptances; rate of 3; 2 established an open market purchases of, Rate of 05; established an all classes of paper of all maturities Trade acceptances; minimum rate of 4% established on open market purchases of, P. B. Bank of Dallas: Bankers' acceptances; minimum rate of 3% established on open market purchases of, Bankers' acceptances; minimum rate of 4„; established on open market purchases of, 6/28 325 4 /25 205 4 /17 193 3 /13 3 /13 139 139 5 ,29 / 265-6 6 /22 315 3 /24 163 1/27 63 6/22 315 6 /27 317 4/5 175 1 /20 48 3 /24 162 3 /13 139 4/25 205 /13 91 6 /12 6 /27 293 319 /la 295 6 1/18 41 17a Discount Rates: (continue d) F. R. Bank of Dallas: (continued) Lowering of rate by; request from Dallas as to whether FRBoard is favorable toward, 3 /31 Rate of 5-L established, on all classes of paper of all maturities 119 Trade acceptances; minimum rate of 4; established on open market purchases of, 6 /13 Minneapolis: of Bank R. F. Bankers' acceptances, minimum rate of 3;, established on open market purchases of, 4/ 7 Bankers' acceptances offered for reliscount by member banks, regular rate used. for commercial paper to obtain upon, 4/7 Rate of v; fixed on all classes of paper of all maturities, effective Jan. 11th. 1 /11 F. R. Bank of New York: Bankers" acceptances; minimum rate of 244 established on open market iyur chases of, 6 /22 Bankers* acceptances; minimum rate of 3',‘ established on open market purchases of, 4/ 7 Bankers' acceptances; minimum rate of 31.; - established. on open market purchases of, 1 /20 'proposed reduction in, from 44. to 4c;, effective June 22, 6 /21 Reduction in; motion by Lir. Miller for placing matter of, upon docket for meeting of Ma* 23rd. 5 9 Reduction in, to 4;; 5 /23 .4 established on Trade acceptances; minimum rate of 3 6 /22 open market purchases of, minimum rate of 31% acceptances; established on Trade 5 /31 open market purchases of, F. R. Bank of philadelphia: approved on Bankers' acceptances; minimum rate of 4/ 7 open market purchases of, Bankers' acceptances; minimum rate of 326 established on open marke t purchases of, 1 /20 Bankers' acceptances; reduction in minimum rate for open market purchases of, suggested by FRBank; Board would, approve reduction to 31.‘',:x 1 /18 Trade acceptances; minimum rate of 32,3 established on open market purchases of, 6 /22 Bank of Richmond: F. R. Bankers' acceptances; minimum rate of 314`? 4a established on open market purchases of, 5 /25 Trade acceptances; minimum rate of 4.,'; established on open market purchases of, 5 /29 tii 4 ill 13 296 171 10 2; 311 161) 44 3/ page Discount Rates: (continued) F. R. Bank of St. Louis: Bankers' acceptances; minimum rate of 34 7 established on 4 /14 open market purchases of, Bankers' acceptances; rate of 3 establidhel on open 1 /25 market purchases of, Rate of 4k.,72 established on all paper of all maturities 4 /5 Trade acceptances; minimum rate of 4$ established on open market purchases of, 6 /5 F. R. Bank of San Francisco: Bankers' acceptances; minimum rate of 3:7 0 established on 4 /14 open market purchases of, Rate of 4i% established on all paper of all maturities, with minimum rate of 31% for open market purchases 1 /20 of bankers' acceptances Trade acceptances; minimum rate of 311L established on 6/1 open market purchases of, Progressive; statement by Governor Harding re probable desirability of FRBanks reestablishing, with certain modifications; matter to be referred to next meeting of 4/3 Federal Advisory Council Trade acceptances; letter from Mr.darburg suggesting adoption of lower rate for, than current rate for commercial paper; referred to forthcoming conferences of Federal Advisory Council and Governors of ieRBanks 3 /29 DiscountS: Eligibility for discount of paper of a borrower where financial statement of the borrower indicates stocks and bonds must be reckoned as quick assets; reply of Board to letter from Deputy Governor Peple re, 1/9 Eligibility of paper of certain agricultural borrower for discount; letter from Board to Kansas City re, 1 /11 any RBank Ruling of Board re discount by up to 99:',4 of its assets, of six months agricultural and live stock paper 5/3 Dividends: F. R. Bank of Atlanta: Dividend for six months period ending June 30, 1922, at ,L per annum rate of 6,, 6 /27 F. R. Bank of Boston: Dividend at rate of ei% per annum for six months period 6 /20 ending June 30, 1922 F. R. Bank of Chicago: Dividend at rate of q;;;* per annum for six months period 6 /28 ending June 30, 1922 P. R. Bank of Cleveland: Dividend at rate of 6,1, per annum for six: months period ending June 30, 1922 6 /27 F. R. Bank of Dallas: Dividend at rate of 6% per annum for six months period 6 /13 ending June 30, 1922 188 54 175 280 188 44 273 173 168 14 22 219-20 318 306 325 317 297 XXX pat Dividends: (continued) F. R. Bank of Kansas City: Dividend at rate of CV, per annum for six months period 6 /20 ending Juma 30, 1922 F. R. Bank of Llinneapolis: 5 /29 Declaring of, for period ending June 30, 1922 F. B. Bank of New York: Dividend at rate of C6 per annum, payable an June 30, 1922 6 /14 Philadelphia: of Bank R. F. Dividend at rate of 6,4 per arinum for six months period 6 /12 ending June 30, 1922 F. R. Bank of Richmond: a per annum for six months period Dividend at rate of 67 6 /12 ending June 30, 1922 F. R. Bark of St. Louis: Dividend at rate of 6% per annum for six months period 6 /12 ending June 30, 1922 F. R. Bank of San Francisco: 6 /12 Dividend for six months period ending June 30, 1922 Division of Analysis & Research: Acting Assistant Chief; appointment of Henry d. Van Pelt as, 5/1 with increase in salary Appropriation by Board of 42,000 to cover expenditure through Consulate in London for 1922, sane to cover also deficit 1/5 incurred during 1921 Authorized to arrange for meeting of reporting services of FRBanks in Washington during June, and plan program for 5 /19 awe ahelsea Fireproof Storage Warehouse given contract by RiBoard to transport by motor van certain equipment of, from 4 /21 New York to Washington Correspondence between, and State Department, re expenditure for certain work done for Board through Consulate in London 1/5 Director; lar. Miller authorized to present to Board name of some person qualified to serve as successor to Dr. Willis 6 /27 Employees; all existing, necessary to complete work up to July 1st., to be retained until such date, in addition to new ones necessary an account of removal of Division to Washington 3 /20 investigation in Europe by member of staff of, authorized, upon request of Dr. 'Willis 2 /13 Letter prepared by, to National Association of Finishers of Cotton Fabrics, re furnishing Board with certain statistical inforuation 1/6 0 20 299 29 291 291 21f 6 210 6 16 9g 11 XXXI Page Division of Analysis & Research: (continued) Memo, from Director of, to Secretary of War, re banking and currency situation in Philippine Islands; Board considers memorandum competent survey of situation 1 /6 Personnel and scope of work of; memo. of Bulletin Committee Of FRBoard re, 3 /24 Proposed investigations to Europe by members of staff of; memo, of Dr. Edwards re, 2/ 1 Reorganization of staff preparatory to removal to Washington; letter from Dr. Willis re, 4 /10 Request from Director of, that copies of iRlialletin be made available for free distribution at foreign trade convention to be held shortly in Philadelphia 4 /10 Snodgrass, (Miss) Ratherine; request from Dr. Willis for authority to change employment of, from full to half time 5 /12 Sprague, 0. M. U., Board authorizes payment of expenses of, from Boston to New York, for conference with jr. Miller re matter of new director for Division 6 /28 Steiner, 17.H., designated Acting Chief of, effective July 1, 1922 3 /20 Steiner, IV. H., increase in salary as Acting Director of Division, recomnended by Dr. Willis 6 /29 Willis, Dr. H. P., announcement to be made by, in April FRBulletin, of resignation as Director of Division, and transfer of Division to Washington 3 /22 Willis, Dr. H. P., authorized to maintain office at #50 Broad , Street, New York City, until July 1st., 1922 3 /20 Willis, Dr. H. P., resignation tendered by, as Director of Division, and plans submitted for rearrangement of organization of Division upon removal to Washington 3/ 8 Willis, Dr. H. P., salary as Consulting Economist fixed at 3500 per month until selection by Board of new Director of Division of Analysis & Research 6 /27 Willis, Dr. H. P., to continue as Director of Division until July 1st., 1922 3 /20 Division of Reports and Statistics: Name of, changed to "Division of Bank Operations" 5 /12 Dodge, J. s., superintendent of Banks of state of California: Meeting of, with RBoard, to discuss certain phases of banking situation in California 6 /5 Dollar Exchange: Acceptance by member banks of drafts drawn by Philippine National Bank for purpose of creating; letter from FRBank of San Francisco re, 5 /24 Comnercial Attache at Mexico City suggests Board authorize member banks to accept drafts drawn by banks in Mexico for purpose of creating; Board of opinion no present need for this facility 3/ 3 11 160 69 182 183 233 327 152 334 156 152 128 322 152 232 279 257 121 xaxx pM Dollar Exchange; (continued) French American Banking corporation granted permission to accept for purpose of creating, in Dutch Eash Indies 2 /17 International Acceptance Bank; request from, for permission to accept for purpose of creating dollar exchange in Dutch East Indies; docketed for Jan. 30th. 1 /26 Request approved 1 /30 Rescinding of all instructions re, not in conformity with ruling of board of November, 1918 3 /17 uells Fargo Nevada National BaniT of San Francisco granted permission to accept for purpose of creating, in Dutch East Indies 2 /27 99 61 65' 14h 11 9E11 East River National Bank of New York: Deposits carried by, with banks in Italy and other European countries; letter from chief National Bank Examiner borden of Second District re, 2 /10 Ecuador: Communication from a bank at Gnayquil, re letters of credit for American trade submitted to Board by Secretary of Treasury for comment 5 /22 Eddy, Walter L., Assistant Secretary, F. R. Board: Designated, at request of Director of Bureau of the Budget, as Board's representative to meat with representatives of other departments upon call 6 /27 Salary increased 1 /11 Elliott, aiward, President of Security Trust & Savings Bank of Los Angeles: Acceptance by, of invitation of board to be present June 14th. for discussion re matter of reserve carried against special savings deposits in California 6/8 Discussion between 1:r. Elliott and Board re reserves; committee appointed to investigate and report an matter 6 /14 To meet with Board June ]Atia. to discuss matter of reserve carried by certain member banks in California against special savings deposits 5 /23 Europa: Investigation in, by member of staff of Division of Analysis & Research, authorized upon request of Dr. Villis 2 /13 proposed investigations in, by members of staff of Division of Analysis & Research; memo. of Dr. Edwards re, 2/ 1 69 z6 288 26 69 Page Evansville, Indianapolis, & Terre Haute Railway Co. Form of loan for 4400,000 to, in eight parts, carrier taking 2 /10 aver fifth part, in amount of 50,000 Form of loan for 4400,000 to, in eight parts, carrier taking over sixth and seventh parts of loan in amounts of 3/6 450,000 each Farm of loan for 4400,000 to, in eight parts, carrier taking 5 /22 down 450,000 Evart State Bank, Evart, Michigan: Authority granted, to purchase additional stock in RBank Of Chicago 6 /21 Examinations: Commercial National Bank of-ailmington, N. C., report of examination of, forwarded by Gov. Seay of Richmond, with comment thereon; matter referred to Comptroller of the 5 /19 Currency F. R. Bank of Dallas: Matters criticized by Examining Division in recent report; 6 /27 letter from Governor McKinney re, F. R. Bank of Kansas City: Report of, as at close of basiness :March 25th., 1922, 5 /24 submitted, with comments by Chief Examiner F. R. Bank of New Yollk: FRBamk's reply to criticisms and exceptions noted by EaBoard4s Examiner as result of recent examination of 4 /19 FRBank Letter from Gov. Strong re statement in report of last examination of, that certain departments of Bank were 3 /31 over-manned Report of, as at close of business Feb. 11, 1922, submitted, 5 /24 with comments by Chief Examiner F. R. Bank of Philadelphia: Report of, as at close of business Jan. 21, 1922, submitted, 5 /24 with comments by Chief Examiner P.R. Bank of Richmond: Report of, as at close of business Jan. 7, 1922,submitted, 5 /24 with comments by Chief Examiner First Federal Foreign Banking Association of New York City, report of, as at close of business March 13, 1922,submitted, with comments by Chief Examiner 5 /24 International Acceptance Bank; Board's Chief Bank Examiner to make periodical examinations of, In future 6/8 International Banking Corporation; examination of European branches of, by certain national hank examiners during trip to Europe in near future 6 /29 MBank Chicago re authority bank; inquiry from of Member 1 /20 examiners in matter of, 88 124 247 310 243-4 319 259 198 170 259 259 259 259 288 333 47 Examinations: (continued) Lember Dank; letter from Board to Chiagp re pcwers,duties, and limitations of FRBank examiners in, 2 /10 :amber bank; letter from Comptroller of the Currency re directors of RBanks having access to reports of, 2/ 1 ilember bank; revised form for use by FRBank examiners in, submitted by Dallas and approved 4/ 7 National bank; letter from Dallas re matter of payment for copies of reports of, transmitted by comptroller of the Currency to branches of FRBank of Dallas 1 /16 Suggestions of Gov. Strong re use by the RExaminer of employees of the FRBank under examination 4/5 Examiners: Federal Reserve: Beale, H. P., appointed ZRBank Examiner at Richmond,with increase in salary 6 /5 Charlton, W. H., designated Assistant Examiner at phila. 5 /25 Cochrane, Thomas, designated Assistant Examiner at FRBank of philadelphia 5 /25 Evans, Hcward, appointment at Cleveland at 4,000 per annum 4 /17 Goetze, Clinton, an Francisco, appointed to assist in examination of member banks in Twelfth District 3/ 3 Grund, V. J., resignation 1 /25 Hageman, F. W. L., Cleveland, resignation 4 /17 Higbee, William J., designation as Assistant Examiner at philadelphia 5 /25 Hill, E. J., appointment as Examiner at FRBank of Phila. 1 / 9 Locker, j. T., appointment as Examiner at FRBank of Philadelphia 1/9 Los Angeles Branch of FRBank of San Francisco; certain employees of, designated as Assistant FRExaminers 3/ 1,1aClerkin, G. LI., appointment and salary as examiner at ir,13ank of an Francisco 3/9 Position taken by FRBoard re appointment of, and fixing of salaries; letter from Board to San Francisco re, 3 /24 Pamers, duties, and limitations of, in examinations of member banks; letter from Board to Chicago re, 2 /10 Redford, Burton 3., Jan Francisco, appointed to assist in examination of member banks in Twelfth District 3/ 3 Rolston, Edwin S., designation as Assistant Examiner at Philadelphia 5 /25 Russ, Henry E., an Francisco, appointed to assist in examinations of member banks in Twelfth District 3/3 janderson, Edward H., an Francisco, appointed to assist in examinatiomsof member banks in Twelfth District 3/ 3 69 70 180 i 34 1 176' 281 261 26/ 3.0 1`40 58 193 261 15 15 130 10 89 3,2° 261 12° 12° 3 0 3 1 40 0 13, axv Page Examiners: (continued) Federal Reserve: San Francisco; appointment of E. S. Jernegan, head office, and L. H. 11oore, Salt Lake City Branch, as special 2/1 examiners San Francisco; appointment of seven assistant examiners at head office, two at Seattle Branch, and three at each 1 /25 of the other branches appointed officers and employees certain Francisco; San 1 /20 as regular and special ERBank examiners at examiner as assistant appointment Edward L., Werner, 1/3 MBank of Boston PRBank of examiner resignation as at 7:ilson, Mark A., 6 /27 Ohicago National Bqnk: 1 /20 Uhanges in force during December, 1921 2/4 Jhanges in force during January, 1922 2/ a jhanges in force during February, 1922 4 /10 Ohaaages in force during March, 1922 5/3 Jhanges in force during April, 1922 6 /5 Ohanges in force during May, 1922 Salaries of National Bank: Allanson, Edward A., salary approved at 0,500 per annum 3 /29 1 /27 BaSham, Albert A., salary approved at 43,000 per annum 1 /20 Bean, Norwin S., salary increased to ,4,500 per annum 1 /20 Black, Harold W., salary increased to 44,500 per annum 5 /8 Beldin, Bernard E., salary approved at .*.2,700 per annum 2 /14 Breg, Jlarence E., salary increased to 44,000 per annum Oarolan, William B., salary approved at 43,000 per annum 3 /24 Orawley, William C., salary approved at 42,750 per annum 5 /12 5 /12 Dye, Samuel W., salary approved at „i3,000 per annum Gilbert, Headley B., salary approved at 42,700 per annum 3 /29 Graham, Jharles Stewart, salary approved at 0,600 per 2/4 annum Harrington, Timothy J., salary increased to 43,900 per 2 /24 annum Herndon, James B., Jr., salary approved at ;:2,700 per 6/7 annum 4/5 Hooper, Ilarshall, salary approved at i:i4,000 per annum 2 /24 Hughes, John P., salary approved at 43,000 per annum Increases in, of five Ohief examiners and certain other 1 /20 examiners in various districts Johnson, Oarl E. H., salary approved at A,000 per annum 3 /29 4 /28 1,:aguire, Edward J., salary approved at 42,700 per annum 2/8 Millard, Samuel T., salary approved at ,'-'3,600 per annum 4 /17 Mueller, Arthur ::., salary approved at 42,700 per annum 70 58 45 1 320 52 77 129 184 221 283 169 &I 52 52 228 93 163 234 233 169 77 109 287 177 109 52 169 213 85 195 Exwminers: (continued) Salaries of National Bank: 1 /20 parker, Edward F., salary increased to 45,000 per annum 5 /22 Ritt, Albert L., salary approved at 02,400 per annum 5 /29 Rockey, Kenneth, H., salary approved at $5,500 per annum Ro3keY, Kenneth H., salary approved at $1,333.33 per month while in Europe examining branches of National.0ity Bank of New York 6 /21 Rorebeck, Edwin F., salary approved at 45,000 per annum 3 /31 3 /24 Ryan, Frank J., salary approved at $3,000 per annum 6 /20 Sawyer, Lewis 11., Jr., salary Increased 1 /20 Scott, Herbert W., salary approved at 48,500 per annum 6 /22 Snapp, John W., salary approved at 43,000 per annum Storing, Jbarles 0., salary approved at 43,000 per annum 2 /27 2/1 Stover, Lloyd W., salary approved at 43,000 per annum Tuoker,Grattan. H., salary approved at 43,000 per annum 2/ Waldron, Walter J„ salary approved at 43,000 per annum 2 /27 Williams, Fred D., salary approved at $4,000 per annum 2/ 6 Wilson, Oharles F., salary approved at $1,000 per month while in Europe examining branches of National Oity Bank 6 /21 of New York Wilson, William paul, salary approved at 42,700 per annum 5 /25 younger, Gale J., salary approved, at 43,000 per annum 3 /31 Exchange: Dollar: See under "Dollar Exchange" Expenses, F. IL Board: Assessment against RBanks for, for six months period 6 /20 beginning July 1, 1922 Bill for $196.60 in connection with securing letters patent 2 /13 for processes developed as result of recent vault tests Jommdttee appointed by Board to investigate conduct of FRAgent's office at Dallas, authorized to incur any expenses recessary in oannection therewith, 3/6 Equipaent for quarters used by FRBoard for filing purposes; memo. of Assistant Secretary suggesting spending of $1,500 for acquiring adequate, 3 /24 Expenditure of $134.00 authorized, for installing wooden shelves in Rapley Building on which to store back numbers of FRBulletin 1 /18 Expenditure of 4536.00 for purchase of additional equipment 4/5 for Board's library, authorized Installation of additional steal wall cabinet in file room, authorized, at cost of 41,125 5 /22 installation of steal shelving in Board's storage room in 1 /4 Treasury Bldg„ at $420, authorized 52 248 266 311 171 164 309 52 316 72 86 115 80 311 266 30 92 ; 12.$ Page Erpenses, F. R. Board: (continued) Installation of ventilators on windows of Board's offices in Otis building; expenditure of $115.00 for,authorized 5 /22 Installing of modified lighting system in Div. of Issue & 3 /22 Redemption at cost of $270.00, authorized Payment by Board of $943.00, for reinstating certain partitions in National Metropolitan Bank Building necessitated 4 /21 by removal of Board's quarters from building Purchase of bicycle and equipment for use in messenger service between Treasury and Otis buildings,authorized by uBoard 5 /10 Telegraph offices of FRBoard and Treasury Department; expenditure of $80.00 to cover cost of rearrangement in, 119 authorized 3 /15 Typewriters; purchase of six new, authorized 248 157 202 230 16 143 "Fit Farm Loan Agenqy at Louisville, KentWky: Letter from, suggesting loans for Kentucky be concentrated at Louisville Branch instead of divided between eighth 1 /25 and fourth FRDistricts Louisville loans Bran, at Concentration of above 1 /30 approved Savings Bank, Clayton, Mo. Farmers & Commercial 2/8 Application of, for surrender of stock /15 2 reduce capital stock Application of, to RBank of Louis to St. Application of, to surrender stock in extent proportionate to recent reduction in capital; opinion of Counsel re, and letter from Board to RAgent 3/8 at St. Louis three shares of stock surrender twenty Granted permission to in FRBank of St. Louis, representing difference between 5/3 former and present capital Oklahoma: Bank of Hollis, Farmers National * Required payment made by, an account of subscription to 6 /22 capital stock of FRBank of Kansas City Federal Advisory Council: Hulbert, E. D., temporary attendance by, at meetings of Council, in place of J. J. Mitchell, representative 4/7 for seventh FRDistrict 3 /15 Next statutory meeting of, to be held on April 24, 1922 3 /20 Date of next meeting changed to April 27th. Publishing of names of, in FRBulletin, upon inside of front 5 /19 page, authorized 58 67 82 96 127 220 316 180 147 151 242 XXVIII for 1922 with coropensation and allowance of he attends in `Washington 4600 1 /5 welfth FRDistrict, for each !meting //1118 Board's reply to Senatcr McLean's request for opinion re Harris Amandmant to FRAct Proposed anendm3nt, submitted by Senator Harris, whereby no contracts for MBank buildings may be let without consent of Congress; letter from Board to FRBanks re, 1 / 5 proposed bill to amend last paragraph of Section 11(k); views of Board re, 4 /14 Senate Bill 2436 to amend Section 25(a); letter from Board to Senator Newberry stating views re, 2 /27 Views of Board requested by Senator Harris re proposed amendmant authorizing, under certain conditions, state banks having less than $25,000 capital to becone members of the FRSystem 4 /17 of Banking & Llurrency Conrnittee whether necessary to have provisions of, extended to October 31, 1922 6 4° 0. 4 3 189 11; 10 1 /20 48 FRAgent at Cleveland for information re powers of FRBoard. re, and Board's reply 5 /15 2.16 Assistant FRAgent at Dallas to act as FRAgent during temporary absence of Judge Ramsey Baskin, John G., Detroit Branch, bond approved. in sum of 450,000 4 AO !' 4 AO 5 /15 18 ! Boardman, Charles Knight, bond for, approved at 450,000 a/1 Bowron, Thomas, i3irmingham Branch, bond approved in amount of '4100,000 5 /17 Bradley, Richard, Baltimore Branch, revoking of appointment * as Assistant FRAgent and alopointment as Manag;er of Discount Department 4 /17 Cobbs, Jamas B., Birmingham Branch, bond approved in amount of 4100,000 5 /17 Donohue, Charles Scott, Acting Assistant FRAgent at Baltimore Branch; bond approved for, in anount of $50,000 4 /28 Donohue, Charles Scott, Baltimore Branch, appointmant as Acting Assistant FRAgent 4 /17 /0 20 10 08, 3,0 P. H. Agents: (continued) Assistant: Dudley, Albert H., Richmond; bond approved for, in amount 1 /9 of $50,000 Faulkner, Peter J., Cincinnati Branch, approval of official bond for, 3/ 3 Haughton, LI. H., appointment as Acting Assistant FaAgent at Jacksonville Branch during absence of Assistant FRAgent LIartin 3 /10 Haughton, E. H., Jacksonville Branch, bond approved at 4100,000 5 /25 Jones, Thomas M., Pittsburgh, bond approved for, 3/20 Lee, R. H., Richmond, official bond approved for, 3/ 3 Martin, George M., Jacksonville Branch, bond approved in amount of 4100,000 5 /12 Meigs, D. C., Denver Brandft, bond approved in sum of 450,000 5 /29 Nevin, Joseph C., Cleveland, bond. approved for, in amount of 450,000 . 1 /20 Post, Arthur E., Philadelphia, recommended increase in salary of, disapproved 1 /aa Potter, C. J., Nashville Branch, bond approved in amount of 4100,000 5 /12. Tyler, W. F., Nashville Branch, bond approved in amount of $100,000 5 /12 Culbertson, J. J., of paris Texas; suggestion from FRAgent at Dallas for designation of, as Acting RAgent during his absence; disapproved 4 /10 Ramsay, Asa E., Kansas City; bond for, approved at $100,000 2/ 1 P. R. Bank of Atlanta: Bankers' meetings in district; Deputy Governor Campbell to attend certain, in lieu of Governor Wellborn 3 /13 Board of Directors; regular May resting of, to be held at Birmingham Branch 3 /13 Controversy between, and 3Ank of Tennessee, re purchase of certain Governuent securities with repurchase agreement; letter from Board to Bank re, 1 /6 Cuba; operation and cost of proposed plan to supply currency to, 1 /25 Cuba; proposed arrangement of 4aBank to supply currency to, through Havana branch of National City Bank of New York 1 /9 Disapproval of, by Secretary of the Treasury, and Board's action of Jan. 9th. in matter, rescinded 2/a Deputy Governor, J. L. Campbell, salary Increased 1 /20 Discount Rates: See under heading "iiscount Rates" Dividend for six months period ending June 30, 1922, at rate of q;:; per annum 6 /27 Page 16 120 135 261 151 120 233 266 46 51 233 233 183 70 141 140 11 55 13-14 83 50 318 pal F. R. Bank of Atlanta: (continued) Federal Reserve Loan co. of Gainesville, Florida, use by, of term' ,Federal Reserve", letter from Board to FRBank re, 6 /21 Fiscal Agent's Dept.; resolution of Directors protesting against absorption by Bank of expenses incurred through operations of, 1 General Counsel, Hollins N. Randolph, proposed payment of 45,000 to, an account of special services In connection with par clearance litigation; referred to Mr. Hamlin for report 4 /21 Approved 5 /24 Governor, Joseph A. McCord, increase in salary requested 6 /27 Increase disapproved 6 /28 Member bank relations department; letter re establishnent of, 3 /13 Montgomery Co., Alabama, transfer of, from Atlanta zone to Birmingham zone 3 /13 par clearance case; advice from General zounsel of FRBank re status of proceedings in, 5 /17 Par collection case against; John W. Davis to be paid retainer of 410,000 in, to be pro rated among the several FRBanks 1 /11 euarters: Opinion of General Counsel that limitation of 4250,000 prescribed by Congress for quarters of FRBanks includes both cost of land and erection of building, forwarded Governor McCord 6 /28 Randolph, Hollins N., General Counsel, proposed payment of $5,000 to, on account of special services in connection with par clearance litigation, referred to Mr. Hamlin for report 4 /21 Approved 5 /24 Salaries: Adjustments in; recommendations re, 1 /16 Albertson, 3ard, Assistant RAgent, proposed increase in salary of, disapproved 6 /21 Campbell, J. L., Deputy Governor, salary increased i/20 Certain changes in, at FRBank and branches 6 /21 Changes in payroll at FRBank and branches; recommendations re 6 /20 Changes in payroll; listing of new employees, salary increases, resignaticms and dismissals at head office and branches 2/a3 Employees; changes in salaries of certain, at FRBmak and branches 1/20 Honneur, J. W., Examiner, salary increased in sum of 4300 per annum 1/20 AO 311 46 205 . ; 260 330 1 324 141 3 26 3 2° 260 36 ! 50 301 $1 10 49 50 XLI page F. R. Bank of Atlanta: (continued) Salaries: (continued) MeCord, Joseph A., Governor, increase in salary re6 /27 quested 6 /28 Increase disapproved M.eGuire, J. L., Eiraminer, salary increased in. sum of 1 /20 $300 per aunt= Islonerief, D. E., Manager of Research and 6tatistica1 1 /20 Division; salary increased in sum of $300 per annum 1 /20 New employees; salaries of, Procedure to be followed in future for all changes in 1 /20 personnel and salaries; advice from FRBank re, Randolph, Hollins N., General Counsel, proposed payment of $5,000 to, on account of special services in connectiaa with par clearance litigation; referred to 4 /21 Mr. Hamlin for report 5 /24 Approved and head office Readjustment in, and in personnel, at 4 /21 branches 1 /20 increased salary Roper, W. B., Assistant Cashier, increased 1 /20 salary Auditor, Taylor, Creed, General 5 /1 increased salary Volker, Leo, 4 /17 increased salary Mabel, Willoughby, Savannal) Agency: Groover, R. N., appointment as Acting Manager at 1.',000 2 /17 per annum, during absence of R. J. Taylor transfer to War Finance Manager; temporary J., Taylor, R. 2 /17 Corporation in Washington Staff: Certain changes in personnel at head office, and New Orleans, 3 /13 Birmingham, and Nashville Branches Changes in payroll and personnel at head office and 5 /22 branches 1 /13 Changes in parsomnel and payroll 1 /20 Employees: transfers, resignations and dismissals Employment, transfer, and dismissal of several employees 1 /5 at head office and Jacksonville Branca F.R. Bank of Boston: Discount Rates: See under heading "Discount Rates" Dividend at rate of 6;; . per annum for six months period 6 /20 ending June 30, 1922 2/ 6 Insurance on new building; rates obtained for, Inter-district transit time schedule issued by; no change 6 /2 to be made ta, Officers; re-election of, and re-designation of committees on aprlications of state banks and trust companies for 1 /16 membership in FRSystem 320 324 50 50 49 50 203 260 201 50 50 215 194 98 98 141 250 30 49 6 306 79 275 33 XLI1 F. R. Bank of Boston: (aontin d) Ouarters: Insurance on new Wilding; rates obtained for, 2/4 "Reserve for Government Franahise Tax"; reply of Board to MBank re matter of publishing, in weekly bank statement 1 / 9 Reserves of member banks; information re, requested of FRBoard by FRAgent Curtiss, in order that Reserve Committee of FRBaaks may make recommendation re reserve requirements of FRAat 3/24 Salaries: Bullen, C. Cs, Deputy Governor, salary increased 2/ 8 Garrick, K. R,, salary increased 2/8 Employees, recommendations re increase in salaries of, approved 1 /11 Gettemy, C. F., salary increased 2/8 Officers, increase in salaries of four; discussion between certain directors and 4RBoard re matter of, 2/ 3 Officers ; recommendations re increases in salaries of, disapproved 1 ill paddock, W. W., Deputy Governor, salary increased 2/8 Staff: Werner, Edward L., appointment as Assist it Elcaminer 1/3 Treasury notes; authority requested by FRBank to accept four-year, from dealers upon fifteen day advances with agreement to repurchase, approved. 4 /3 Treasury notes in amount of 41,000,000, purchase of, by FilBmak, as investment; Board advises it will not look with favor upon further purchase of three year notes 1 /9 certificates of short time indebtedness; S. purchase U. of 42,000,000 of, by aksanir, as investment 1/9 F. R. Bank of Chicago: American Institute of Banking; contribution of $2,600 to local chapter of, by FRBank 5 /22 Building account of; method of handling, 1 /26 Bureau of Domestic and Foreign Commerce; request from Director of, for permission to remove Chicago District Office of, to quarters in the FRBank 3 /20 Charge Offs: Depreciation and anticipated losses; change off for, for 1922, authorized 1 /9 Commercial State Bank of Detroit, Niatigan; waiver of condition of membership imposed upon, by FRBoard, left to discretion of &Agent 6 /12 Cramer, S. B., Deputy Governor, designated as member of supplementary committee of Board's Committee on Internal Economy & Comparative Efficiency 3/ 8 Appointment accepted by ,1r. 1 Cramer 3 /13 79 16 160 65 85 26 83 /5 2,6 85 1 61 page P. R. Bank of Chicago: (continued) Discount Rates: See under heading "Discount Rates" Dividend declared for six months period ending June 30, 6 /28 1922, at rate of eti; per annum Evart State Bank of Evart, Lli,Jhigan, authorized to purchase 6 /21 additional shares of stock in FRBank Examinations of member barks; letter from Board to FRBank re powers, duties, and limitations of FBank examiners in,2 /10 Federal Reserve Club; appropriation of 43,500 for use of, 3 /15 to carry through educational program of RBank Gold certificates, policy of paying out; Bank's reply to 3 /15 FRBoard's circular letters Z-3353 and Xr.3354 re, Leased ;fire System; request for installation of an extra 1 /18 wire in; disapproved for time being Member bank examinations; authority of RBank examiners 1 /20 in matter of, Quarters: Architect; proposed selection of, to draw plans for new 4 /26 branch building at Detroit 1 /26 Building account; method of handling, Salaries: Huston, 2. M., recommended increase in salary of, 1/9 disapproved Officers and employees; increases in salaries of, in1 /9 cluding FRAg3nt's Department Powell, O. L., Jounsel, recommended increase in salary 1 /9 of, disapproved Staff: 6 /27 Wilson, Lark A., resignation as examiner at &Bank P. R. Bank of Olevelani: RBank authorized to expend American Institute of Banking; 45,000 during 1922 for educational advantages accruing to 1 /11 employees through, Bond for Joseph O. Navin, Assistant FRAgent, approved in 1 /20 amount of 450,000 Discount Rates: See under heading "Discount Rates" Dividend for six months period ending June 30, 1922, at rata 6 /27 of 65.; per annum Educational work undertaken by, at head office and branches; 1 /11 appropriation of $5,000 for, FRA,ot upon, re coF. R. Examiners, limitation imposed by operation with state bank examiners and clearing house 5/8 bank examiners; letter from Assistant FRAgent re, (d) of FRAdt; sub-sect ion Powers of FaBoard re section 22, request from Assistant RAgent for information re, and 5 /15 Board's reply 325 310 89 147 147 41 47 209 61 18 18 18 320 24 46 317 24 226 235 21111V F. R. Bank of Cleveland: (continued) Salaries: Evans, Howard, appointed at 4114,000 per annum, as F. R. 4 /17 examiner for salary 1922 R., continued at Faucher, (Gov.) E. 2 /17 00,000 per annum of matter in reporting in, adjustments procedure Modified 1/3 to Board; Board's approval of, requested 1 /9 Approved staff: 4 /17 Evans, Howard, appointment and salary as F. R. examiner as /17 resignation 4 R. examiner F. L., Hageman, F. W. Dallas: F. R. Bank of Assistant FRAgent to act in place of ElAgent during latter's 4 /10 absence re by, of advisability requested Bank's opinion Board's Investing in Government bonds and lowering discount rate; 3 /31 Board not favorable case FRAgent of Texas, FRBoard against; Cleburne, of city authorizes payment of ,1,000 to firm of attorneys for 6/2 services in connection with, Condition of banks in district; letter from FRAgent out3/ 6 lining, and Governor's reply Counsel; letter re employment of additional, in case instituted by hBank for collection of certain discounted 6 /5 paper for National Bank of Cleburne, Texas 5 /31 Counsel; matter of compensation for services of special, Deputy Governor; election of R. G. Emerson as, at 412,000 1 /11 per annum Discount Rates: See under heading "Discount Rates" Dividend for six months period, Jan. - June, 1922, at rate of 6 /13 i per annum 6;t, Educational and welfare purposes; appropriation of 42,000 1 /18 for, for first six months of 1922 Examination; letter from Gov. McKinney re matters criticized 6 /27 by Examining Division in recent report of, Examinations of member banks; revised form for use by 4/7 FRBank examiners in, submitted by RBank and approved F. R. Agent; letter from Chairman of Board of City National Bank of Dallas suggesting appointment of R. L. van Zandt 5/8 as FRAgent; present at meeting of RBoard April 13th., 1922, 4 /13 upon request FRAgent; suggestion of, that J. J. Culbertson, of paris, Texas, be designated Acting FRAgent during his absence, 4 /10 disapproved 99 a 20 191 10 216 12.5 2!1 2w 23) 38 XLV Page .R. Bank of Dallas: (continued) F FRAgent's office; appointment of committee of RBoard to 3/ 6 investigate conduct of, &Agent directed to aome to Washington and attend 4/5 meeting of &Board an April 13th. 5 /25 Report of committee submitted to Board Form, revised, for use by FRBank examiners in member bank 4/7 examinations 1 /16 . Grund as, General Auditor; appointment and salary of :a. Governor; election of B. A. McKinney as, at 416,000 per 1 /11 annum Governor; increase in salary of, to 418,000 per annum, 6 /13 recommended 6 /28 Salary increase approved Informal conference between Deputy Governor Dierson and Director Benson of, with members of &Board, re conduct of office of FRAgent at Dallas; Governor Harding 2 /10 authorized to investigate Law books; request for purchase of certain by Counsel; 2 /20 advice from FRBank re, 3/ 8 Board's reply Class as McKinney, B. A., Governor, authorized to continue 1 /16 uAft director until expiratian of term of office be which in manner McKinney, B. A., Governor, satisfactory 1 /16 received fixing of salary at 416,000 per annum of by, over Member bank, change in location of, and taking other banks without permission of Board; letter from 6 /15 ElAgent at Dallas re, National Bank of Cleburne, Texas; conference of Ft. L. van Zandt with FRBoard re failure of, and re administra4 /25 tion of the'FRBank of Dallas of National Bank of Cleburne, Texas; letter re employment additional counsel in case instituted by FRBank for 6/5 collection of certain parer discounted for, by MBank thz used methods Texas, National Bank of Cleburne, in handling past due paper discounted for; advice from 5 /22 Chief Examiner Herson re, Examiner Chief report from Texas; National Bank of Cleburne, Herson re handling of transactions between, and tbe 5/1 FRBank re compensaCounsel Board's of memo. by; employed Notaries 1 /9 tion paid, salary proposed adjustof, and election annual Officers; 1 /13 ments /16 1 certain, of re-election Officers; in collection for charges and fees attorney's re Policy of, connection with procedure in dealing with paper discounted by closed banks, to be referred to Executive Committee of 6 /28 FRBoard for investigation and. report 122 176-7 262 180 32 23-4 295-6 321 90 103 127 32 39 302 207 281 251 216 20 31 36 327 XLVI Pagef R. Bank of Dallas: (continued) Quarters: 2/24 Old bank Wilding; sale of, for 4130,000 Reports of examination of national banks sent by Comptroller of Currency to branch banks of Dallas; matter of paymeat 1 /16 for copies of, Salaries: Adjustments in, of certain employees, effective April 1, 4 /14 1922 1 /16 Gilbert, R.:R., Cashier, salary increased Hall, O. J., Assistant RAgent, Increase in salary disapproved 1 /16 Increases in, proposed; statement by Mr. Mitchell that Dallas should submit definite schedule of salaries for 1921, with proposed increases for 1922 3/24 McKinney, B. A., Governor, recommendation from Board of Directors of MBank for increase in salary of, to 418,000 per annum 6 /13 Salary increase approved 6 /28 Matter of adjustments in, of general personnel, recently recommended by Bank, discussed; Mr. Mitchell to correspond further with the MBank re, 3 /10 Officers; annual election of, and proposed salary adjustments 1 /13 Officers; recommendations re salaries of certain, in both operating Department and FRAgent's Department 1 /16 Reordan,Dwight P., increase In salary of, disapproved 1 /16 Van Zandt, R. L., allowing of compensation to, beyond term of office, disapproved 1 /18 Situation existing in; report by Gov. Harding of matters learned re, in recent trip to Kansas City and Chicago 2 /27 Staff: Emerson, R. G. election as Deputy Governor at 412,000 1 In. per annum Grund, Val J., appointment and salary as General Auditor 1 /16 McKinney, 3. A., election as Governor at 416,000 per 1 /11 annum Suit brought by, against Brooks Thompson, of 2ort ';;orth, Texas; letter and affidavit from latter, asking dismissal 5/1 of suit stating Thompson, matter should Reply of Board to Mr. 5 /3 be taken up with &Bank of Dallas Treasury notes; proposed subscription by &Bank for approximately .1,000,000 of pending issue of; Board disapproves 1 /27 Van Zandt, R. L., allowing of compensation to, beyond term 1 /18 of office as Governor, disapproved made of, by FRBoard, to come to Van Zandt, R. L.; request :iashington to discuss certain matters recently discussed 4 /14 with Judge Ramsey • 108 34 190 36 36 16 290 31 36 36 39 33 OP' 21 6/ 39 190! XLVII page F.R. Bank of Kansas Oity: Dividend for six months period ending June 30, 1922, 6 /20 at rate of per annum Dxamination, report of, as at alose of business March 25, 5 /24 1922, submitted, with comments by 3hier Exaniner Farners National Bank of Hollis, Oklahoma; required payment by, on account of subscription to capital stock of the 6 /22 FRBank 6 /27 Governor; election of 3. J. Bailey as, 6 /27 Governor; resignation of J. Z. Miller, Jr., as Paper of certain agrizaltural borroaer, eligibility of, for 1 /11 discount; letter from Board to Bank re, Salaries: 1 /16 Adjustments in; recommendations re certain, 1 /20 Boardman, 0. I.., salary increased Increases in, of certain officers of head office and 1 /20 branches; recommendation re, 1 /20 McAdams, A. M., salary increased Staff: Bailey, W. J., election as Governor at 420,000 per annum 6 /27 6 /27 Miller, J. Z., Jr., Governor, resignation R. Bank of Minneapolis: Analysis of, prepared by Division of Examination, submitted 1 /9 to FRBoard Discount Rates: See under heading "Discount Rates" 5 /29 Dividend for period ending June 30, 1922 Loan fund for needy employees; setting aside of si3,000 as, 1 /16 1 /16 Needy employees; loan fund for, Officers; annual election of, and certain proposed salary 1 /13 adjustments 2 /15 Officers; election of, at head office and Helena Branch Quarters: Estimates of cost of new building under two plans, submitted by Architect Cass Gilbert; Board approves plan 2 /20 No. 2 New building, discussion re present status of; Gov. Harding and Mr. Mitchell authorized to go to New York 2/ 8 and take up matter with 0onsulting Architect Salaries: 5/1 Ebersole, J. F., Assistant RAgent, salary increased salaries in adjustments re recommendations FRAgent's Dept., of certain employees of; matter held pending return of 4 /17 Mr. Mitchell 5/1 increased salary Mosher, U. L., Assistant FRAgent, proposed certain and Officers; annual election of, 1 /13 salary adjustments 306 259 316 319 319,320 22 35 51 50-1 51 319 319,320 13 266 32 32 30 94 102 84 216 194 216 30 pagi R. Bank of Lanneapolis: (continued) Salaries: Officers in FRAgent's Department; adjustments in salaries of, disapproved 1 /16 Operating officers; adjustments in salaries of, approved 1 /16 Bast, L. E., Senior Assistant Cashier, salary increased 4 /17 Recommendations re increases in, of certain officers in FRAgent's Dept., pending return of 'Ars Mitchell, held 4 /14 yaeger, Harry, Field Representative, salary increased 5/1 Zinmerman, H. L., Assistant FRAgent at Helena Branch, salary increased 5/1 Staff: Shifting of personnel between parent bank and Helena Branch, and certain salary changes in connection therewith, 2 /17 F. R. Bank of New York: "Better Banking"; printing and distributing to member banks of pamphlet entitled, 4/ 7 Be Nederlandsahe Bank; proposed agreement between, and MBank of New York 3 /10 Discount Rates: See under heading "Discount Rates" Dividend at rate of 610 per annum, payable June 30, 1922 6 /14 gy:4mination; Bank's reply to criticisms and exceptions noted by Examiner of Board as result of recent, 4 /19 DLamination; report of, as at close of business Feb. 11, 1922, submitted, with comments by Chief Examiner 5 /24 Examinations by F. R. Examiner; sugdestions of Gov. Strong for use during, of employees of the FRBank under examination 4/5 Federal Reserve Club; appropriation by FRBank of certain sum for, to use for educational work 5 /22 General Counsel; appointment of L. Randolph Mason as, 3 /10 General Counsel; resignation of Edward S. Hart as, 3 /10 GermanReichsbank; formal approval by Board to certain arrangements proposed to be made by FRBank with, 2 /4 Gold coin in denomination of 42.50; letter from Under Secretary of the Treasury enclosing correspondence with FRBank re paying out of, 2 A5 Insurance companies; modified agreement between FRBank and certain, re premiums on fidelity insurance 5 /33. Inter-district transit time schedule issued by; no change to be made in, 6/2 National Bank of Nicaragua to be appointed agent and correspondent of, in order that the FRBank may act as depositary of collateral to secure Nicaraguan Gold Dcchange Fund 3/3 35 194 .1 189 216 23,6 99 161 135 269 199 259 116 249 154 75 94 369 216 Page F. R. Bank of New York: (continued) Overtime work by members of Auditing Department; payment 4 /17 of extra compensation for, authorized Quarters: Contracts recently let for new building; figures submitted 4/3 re, indicating marked saving over original estimates Reiahsbank, German; form21 approval by Board to certain 2/4 arrangements proposed to be nude by ERBaakisith, Report of last examination of; letter from Governor Strong re statement in, that certain departments of Bank were 3 /31 overmanned Reports of condition furnished FRBanks by Comptroller of the Currency; letter from RAgent re payment for; matter to 3/6 be discussed at next conference of Governors Salaries: 2/ a Barrows, Dudley H,, salary increased 1/9 Burgess, W. Randolph, increase in salary recommended 1 /16 Salary increase disapproved 2/8 Salary increase approved 6/5 Certain adjustments in, effective June 1, 1922 2/a Chapin, Gilbert E., salary increased 2/8 Coe, Charles H., salary increased 2/ a increased Dillistin, William H., salary and FRAgent's Dept., Buffalo Employees, including those of 1/9 Branch; salaries increased /7 increased 4 salary Ferguson, G. W., Auditing Dept., a / 2 Grant, Bethune, salary increased of January for month Hopi, H. A., payment. of salary to, on half time basis, authorized, but Board disapproves further employment of, until need for same is establish2/1 ed annum 49,000 per at rate of salary approved Hopi, H. A., 8 2 until July 1, 1922 1 /11 Increases in, at Bank and Buffalo Branch, disapproved 2/8 Mason, L. R., salary increased 6/2 Phillips, Dr. Arthur W., salary increased 2/8 Raasch, John H., salary increased 2/ 8 Rice, James M., salary increased Roraback, R. H., Associate Director of Treasury Savings Organization; salary increased under authority granted 1 /25 by Under Secretary of the Treasury Ten Eyck, O. W., portion of salary paid by RBank fixed 1 /20 at 45,000 per annum Ten Eyck, 0.W., reduction in portion of salary paid to, by FRBoard, from 44,000 to 42,500 per annum, suggested 1 /11 by Mr. Trowbridge 194 173 75 170 123 84 14-15 35 84 281 84 84 84 18 180 84 71 84 27 84 276 84 84 54 45 23 pagl F. R. Bank of New York: (continued) Self-insurance fund; authority requested by FRBank to set aside 4'250,000 with view to completing the $1,000,000 fund previously set aside for this purpose 5 /23 No action by Board 5 /24 Staff: Bowers, Thomas w., appointment and salary as Assistant to Counsel 3 /10 Employees whose services were discontinued during Dec. 1/9 Hart, Edward S., General Counsel, resignation 3 /10 Hopi', Harry A., Organization Counsel,resignation reported., and request from Bank that services be retained for part time on fee basis; Board disapproves 1 /11 Mason, L. Randolph, appointmsnt and. salary as General Counsel 3 /10 Payment of extra compensation to certain members of Auditing Department for overtime work, in. connection with examination of MBank by FRBoard 4 /17 strong, Benjamin, Governor, designated as member of auxiliary comaittee of Board's Committee on Internal Economy & Comparative aficiency 3/6 Request from Governor Strong that he be excused from serving on committee 3/8 subscribed capital, transfer of, from super-surplus to surplus, in order to maintain surplus at 1006; letter from Board. to FRBank re, 6/6 Super-surplus account, proper method of setting up, and methods for amortization of building and fixed machinery; letter from Governor Strong re, and Board's reply 6 /29 Surplus and super-surplus accounts; letter from Gov. Strong to Board're treatment of, on books of the FRBank6 /27 Report of Law Committee of Board on, and opinion of General Counsel 6 /28 Opinion of General Counsel concurred in by Board, and FRBanks to be advised of substance of said opinion 6 /z6 Swiss National Bank appointed agent of, in Switzerland 4 /26 Taking over by, for account of National Bank of Nicaragua, of certain collateral held by Mercantile Bank of the Americas to secure Nicaraguan Gold Exchange Fund 2 /15 F. B. Bank of Philadelphia: Advisory Council; election of L. L. Rue as member of, for 1922 1 /5 Books of; carrying upon, figures representing value of bank vault 1 /26 Comptroller; election of 'William G. McCready as, at ;;i5,000 per annum 1 /5 27 194 96 6 LI page F. R. Bank of Philadelphia: (continued) counsel; appointment of law firm of Williams and Sinkler as, 1./ 5 at 42,500 for year 1922 Discount Rates: See under heading "Discount Rates" Dividend for six months period ending June 30, 1922, at 6 /12 rate of cf; per axinum Jan. 21, business of as close at Examination, report of, 5 /24 1922, submitted, with comments by chief Examiner securities, of sale Executing of order for purchase and complaint from member bank in third district to Jomptroller of the Uurrency re quality of service rendered by FRBank in; Gov. authorized to secure information re, 4 /28 First National Bank of Scranton, pa., arrangements made by the FR3ank with, for keeping in Scranton supply of V. R. 1 /20 notes for use of member banks in, change by; issued schedule time transit Inter-district 6/2 authorized Liberty bonds; proposel investment in not more than 4 /10 0,000,000 of, by the FRBank 1 /5 year current for of, election Officers, Salaries: Adjustments in, of certain department heads and employees 1 /20 6 /8 Blanc, Victor, increase in salary 3 /24 Increases in, of two employees Officers and employees of &Agent's and Auditing Depts.; 1 /20 adjustments in salaries of certain, /2 6 salary Increased J., Arthur Dr. Phillips, increase recommended RAgent, E., Assistant Post, Arthur 1 /20 in salary of, disapproved /22 6 of Dept. employees FRAgent's of in, three Reduction Staff: Jharlton, W. H., designation as Assistant Examiner to assist in eYamination of certain trust companies in 5 /25 Philadelphia Jochrane, Thomas, designated Assistant Examiner to assist 5 /25 in examination of certain trust companies in Phila. Gounsel; appointment of law firm of Williams and Sinkler 1 /5 as, for year 1922 Higbee, William J., designated Assistant Examiner to assist in examination of certain trust companies in 5 /25 Philadelphia 1 i9 Hill, E. 0., appointment as aBank Examiner 1 /9 Locker, N. T., appointment as Examiner =Greedy, William J., elected 0omptroller at5,000 per 1 /5 annum Rolston, Edwin S., designation as Assistant Examiner to assist in examinationof certain trust companies in 5 /25 Philadelphia 8 292 259 212 47 275 184 8 51 289 161 51 276 51 314 261 261 8 261 15 15 8 261 LIT CO nt inued) F. R. Bank of philadelphia: Staffs (continued) Schlutter, Prof. 7. U., employment on part time basis at 42,500 per annum 5 /17 Vault; carrying upon books of* the MBank figures representing value of, 1 /26 Richmond: of Bank F. R. American Trust Jo. of Jharlotte, N. C.; complaint from, that FRBank had declined, as ineligible, certain parer of Hunter Lianufacturing Gormtission Co. 4 /10 Discount Rates: See under 'leading "Discount Rates" Dividend for six months period ending June 30, 1922, at rate of 6-;.1 per annum 6 /12 Eligibility for discount of paper of a borrower where financial statement of the borrower indicates stocks and bonds must be reekored as quick assets; reply of Board to letter from Deputy Governor Peple re, 1 9 Examina.ti on; report of, as at close of busine ss Jan. 7, 1922, with comments by Uhief Examiner 5 /24 Salaries: Adjustments in, at head office and Baltimore Branch, recommended 2 /13 ilxtniversary and semi-anniversary adjustments in, 1 16 Jertain adjustments in, in accordance with anniversary plan, recommended; Board disapproves continuance of anniversary plan and suggests recommendations covering all salary adjustments for 1922 1 /20 Employees; plan for salary adjustments affecting, for 1922, approved. 2 /20 Officers of Operating and FRAgent s Departments; adjustments in salaries of, 2 /17 Staff: Beale, H. P., appointment as „MBank Examiner, with increase in salary 6/5 Dudley, Albert H., Assistant &Agent, bond, approved for, in amotzat of 450,000 1/9 Lee, R. H., Assistant iRAgant, official bond. approved for. 3/3 Vault tests; letter from Gov. Seay re controversy between rig3ank. and Gonsulting Architect arising from request made by Gov. Seay for written report of recent, 1 /13 F. R. Bank of St. Louis: 11.nnual meeting of directors of, and, of branches, to be held June 7th.; member of FRBoard invited to attend 5 /22 Discount Bates: See under separate heeding "Discount Rates" Dividend for six months period ending June 30, 1922, at rate of 6; per annum 6 /12 239 61 1 292 14 2.69 91 33 106 99'1 3.6 1 Lill Page F. R. Bank of St. Louis: (continued) Farmers and Commercial savings Bank of Clayton, Mo., application of, to surrender stock in the kilBank to extent proportionate to recent reduction in capital; opinion 3/8 of Connsel re, and letter from Board to FRAgent Member bank in Dexter, Mo., request from, that ERBank send all items on Dexter to its bank, whether or not same are drawn on certain non-member bank in same place; Board approves sending each bank concerned those items drawn 4 /26 upon itself C'uarters: New building; ERBoard authorizes Bank to proceed with development of worAing plans and secure competitive 5 /4 bids for construction New building; letter from Consulting Architect recommending Board approve erection of, on cost plus basis, • 5 /15 disapproved New building; letter from Senator spencer urging necessity 3 for beginning work upon proposed, New building; letter from Vice Governor of FRBank re recent correspondence between FaBoard and Consulting Architect re procedure to be followed in letting of contracts and 5 /22 construction of, requested, at cost of 4250,000, purchase of additional lot, with view to modifying plans of building by decreasing 3 /15 height and increasing ground area from banks; letter national Real estate loans by local 6 /20 FRBank re, and reply of Governor Harding Salaries: 1/3 Adjustments in; recomaendations re, referred Employees at head office and branches; increases in 1 /11 salaries of, Jessamine, Lincoln, MaCreery banks in Transfer of memoer & Pulaski Counties, Ky., from Fourth to Eighth District 6 / 5 F, B. Bank of San Francisco: Attorney; election of Albert C. Agnew as, for 1922, at 1/18 47,500 per annum from by; letter establishment of branches Italy; Bank of 1 /20 Mr. Mitchell to &Agent Perrin re, re certain correBoard tIRBank Italy; letter from to Bank of spondence between the MBank and Mr. William G. McAdoo re 5 /15 establishment of branches by, progress made by Messrs. California, Branch bank question in Miller and Mitchell in investigation of; letter from Bank re, with special reference to reserve which .1aould be re4 /17 quired in California against special savingp deposits Board's of member as Calkins, J. U., Governor, resignation Committee an Internal Economy and Comparative Efficiency 1 /20 /20 127 209 224 237 153 251 144 304 2 26 281 40 48 237 195 47 LIV F. R. Bank of San Francisco: (continued) Capital stock of State member banks, reduction in; letter from 3 /27 FR3oard to Bank re, amending general condition No. 4 propriety of V;illiam Sproule serving as, Class "Cn director; 2/1 while park Commissioner of San Francisco Counsel; Gavin McNab not to be reappointed as, out employed. 1 /18 when necessary to assist Bank's attorney Discount Rates: See under heading "Discount Rates" 6 /12 Dividend for six months period ending June 30, 1922 Federal Reserve Bank examiners, position of RBoard re appointment of, and fixing of salaries; letter from Board to San r'rancisco 3 /24 re, quart ers: New bank building; objections by FRBank to making provisions 5/3 for sufficient space in, to be rented as offices Salt Lake City Branch; letter from senator King re letting 1 /4 of contracts for, 1 /5 Board's reply 6/2 Rediscount rate, suggested reduction in, from 414; to 4-ia Reserve requirements against special savings deposits; telegram 4 /19 from .kRBoard to San Francisco stating opinion re, Salaries: Agent's Department; increase in salaries of, 1 /9 Employees of Letter from FR,Igent perrin re salary schedule recently submit6 /29 ted; referred 1 /9 Officers and employees; salaries increased Recommendation re increases in, from Gov. Calkins, and Board's 6 /27 reply 3 /29 Schmidt, George H., Assistant Cashier, salary increased Staff: Agnew, Albert C., election of, as attorney for 1922 at 47,500 1 /18 per annum Appointment of certain new employees at head office and 3 /15 branches seven of at head office, appointment two examiners, Assistant 1 /25 at Seattle Branch, and three at each of other branches Secretary of as Board of, of election Directors1/18 A., Day, ',Vali= Examiners; appointment of certain officers and employees as 1 /20 regular and special, in assist of examination to appointed member Clinton, Goetze, 3/3 banks in twelfth district special examiner as appointment /1 2 S., Jernegan, E. salary as and examiner 3/9 1.13Clerkin, G. Li., appointment for of, 1922 re-election 1 /18 Managers of branches; Redford, Burton S., appointed to assist in examination of member 3/ 3 banks in twelfth district 166 70 40 291 161 221 4 6-'1 216 19e 19 50 19 167 40 149 58 40 46 10 70 1$) 40 , 10 LV page F. R. Bank of San Francisco; (continued) Staff: (continued) Russ, Henry E., appointed to assist in examination of 3/ 3 member banks in district Sanderson, Edward H., appointed to assist in examination 3/3 of member banks in district State member banks, establishment of trust departments and exercise of fiduciary powers by; reply to inquiry from 1 /11 Bank whether same require Board's approval State member banks; specific information re branches of, requested oy RAgent Perrin, in view of Governor Harding's 5/a letter of April 28th. Twohy, D. W., election as member of Federal Advisory Council for year 1922, with compensation and allmanca of J600 1 /le for each meeting of council he attends in dashington P.R. Bamks: Assessment against, for expenses of FRBoard far six months 6/20 period beginning July 1, 1922 Auditors; suggestion of RAgent Perrin for calling of conference of, at stated times, to be taken up at meeting 1 /18 of Advisory Committee of Governors and AEAgents Circular from Board to, re carrying out suggestions of Assistant Secretary of the Treasury Wadsworth for engraving 3/ 9 and printing F. R. notes Olosing of books of, only on December 31st. of each year; recommendation of Governors's Conference suggesting, concur5 /23 red in by EaBoard Discounts: Ruling of Board re discount by a RBank up to 99 of its assets, of six months agricultural and livestock paper 5 / 3 Dividends: Recommendation of Governors' Conference for declaring, 5 /23 semi-annually, as heretofore, concurred in by &Board Expenses: Form of "Report and Manual for Distribution" of functional expenses of PRBanks; letter from Chairman of Committee 5 /17 on Economy and Efficiency to Chairmen of FRBanks re, of functional Form of "Report and Manual for Distribution" expenses of; letter from Chairman of Committee on Economy 5 /17 and Efficiency to Chairmen of FRBanks re, fiscal year ending Franchise tax to be paid by, during 6 /28 June 30, 1923, estimated by FRBoard at 410,000,000 objections to printing Gold holdings of, loss and gain in; of that part of statement issued by Board to press under 2 /17 date of Feb. 15th. re, 140 120 23 227 40 307 39 132 255 219-20 255 238 238 329 100 LVI F. R. Banks: (continued) Individual and combined statement of; discontinuance by Board and RBanks of publication in, of item "Reserve for Government Franchise Tax", after July 1st. 5 /23 Letters from Board to, re Closing of books, giving instructions re, 5/24 Elimination from published statements of words "Reserved for Government Franchise Taxi' 5 EstabliAhment of miniwum rates for open market purchases of trade acceptances 5/24 Bank buildings; proposed amendment to FRAct whereby no contracts for, may be let without consent of congress 1 /5 Funds deposited by national banks with FRBanks and. branches for credit in 5;; redemption funds 5 /8 Manner of reporting clearings to FRBoard 2 /17 Powers, duties, and limitations of PRBank examiners in examinations of member banks; letter from Board to Chicago re, 2 /10 Reduction in capital stock by State member banks, amending general condition No. 4 3 /27 Revision of Regulations of FRBoard, covering eligibility and procedure in matter of bankers' acceptances representing import and export transactions 3 /20 Transmitting suppl of pamphlets to FRBanks containing replies to questionnaire sent to national banks an Oct. 12, 1921, granted permission to act in fiduciary capacities 6 /13 Victory notes and U. S. Treasury notes, extending authority to carry for dealers, on repurchase agreements 2/ 1 New survey by, in matter of "No Protest Symbol Plan" which was suggested by Jlearing House Section of American Bankers' Association in 1916; letter from D. A. Mullen suggesting,5 /19 Open market purchases of trade acceptances by; General Jounsel directed by Board to prepare draft of regulation covering, 5 /23 Payment by, as fiscal agents of the Government, of U. S. gold certificates for Treasury account; instructions from Secretary of Treasury that no further limitation be placed upon, 3/9 par collection suit against Atlanta; John W. Davis to receive 410,000 as retainer in, to be pro rated among the several FRBanks 1 /11 Policy of, re paying out of gold certificates; letters from Board to FRBanks re, 3/9 3/9 published statements of, re reserve ratios; modification of, 1 /18 /24 256 256 259 259 221 100 89 166 291 69 265 131 26 15/ 31 LVII Page F. R. Banks: (continued) Purchase of Government securities by, for their am account; opinion of Counsel that Board has legal right to impose 4 /14 restrictions upon, Purchase or sale of Government securities by, in other districts than their ama; request from Under Secretary 3 /22 of the Treasury for ruling uy Board re, Quarters: Bank buildings; information re, to be furnished Chairmen of Committees an Banking & currency of both Senate and 1 /5 House by FRBoard Opinion of General Jounsel that limitation of 4250,000 prescribed by Congress in recent amendment to FRAct re quarters of FRBanks includes both cost of land and 6 /28 erection of building any of erection prohibiting passage of Harris Amendment building by YRBanks of branches in excess of 4250,000, 5 /24 without consent of congress Recent increased purchases in holdings of Government securities by; letter from Under Secretary of the 4 /14 Treasury re, Reporting services of; Division of Analysis & Research authorized to arrange for meeting of, in Washington 5 /19 during June, and plan program for sane Salaries: Semi-annual adjustments in; proposed telegram to all 6 FRBanks re, Suggestion by Governor Strong to FRBanks that they decline reimbursement by the Government for fiscal agency opera6 /27 tions Surplus and super-surplus accounts; letter from Governor 6 /27 Strong re treatment of, on books of the FRBanks Report of Law Committee of Board on, and opinion of 6 /28 General Counsel Opinion of General Counsel concurred in by Board, and FRBanks to be advised of substance of said 6 /28 opinion Surplus fund of; opinion of General Counsel that sane is properly liable for unearned dividends, concurred in by 5/1 Attorney General Transmission by, of orders for accounts of member banks direct to brokerage houses in other districts; letters froM Board to Deputy Governor Adelson of Atlanta and 4 /14 Under Secretary of Treasury re, Weekly statement of condition of; revised form of intro3 /13 ductory statement to be used in, 190 157 7 326 258 190 245 321 321 320 327 329 216 191 138 LVIII page V. l. Board: Annual report of; (See under "Annual Report, F. R. Board") Application to, of Budget and Accounting Act of 1921; memo. 6/6 of Assistant Counsel Freeman re, Secretary instructed to acquaint persons in charge of accounting of RBoard with contents of above , memorandum 6/7 Assessment agAinst FRBanks for expenses of, for six months period beginning July 1, 1922 6 /20 Assistant Ohief Clerk: Temporary transfer of, to Otis Building 5 By-laws; proposed amendment to, re matter of recording votes of members of &Board 6 /29 Call meeting of, upon request of three members 1 /6 ohart showing plan under which officers and employees are now operating submitted to, by Secretary, suggesting revision of by-laws 5 /24 Conference between, and representatives of &Banks of Boston, New York, and Philadelphia, to discuss inter-district transit time schedules 6/ Delegation from Arkansas; meeting of, with Board, to urge necessity of proceeding at once with construction of new building for Little Rock Branch 3 Delegation from Tenth District; meeting of, with &Bond, to urge that Kansas Oity be authorized to advertise for bids and begin construction of branch bank at Oklahoma Oity 3 /20 Expenses: Bicycle, purchase of, and equipnent, for use in messenger service between Treasury building and Otis building, authorized by PRBoard 5 Committee of Board appointed to investigate conduct of Agent's office at Dallas authorized to incur necessary expenses in connection therewith, 3/ 6 Expenditure of .$115 for installation of ventilators on windows of Board's offices in Otis building,authorized 5 /22 Installation of additional steel wall cabinet in file room, authorized, at cost of V.125 5 /22 purchase of law books far office of General Counsel 4 /14 Typewriters; purchase of six new, authorized 3 /15 Informal conference between, and Deputy Governor Emerson and Director Sansom of Dallas,re conduct of office of FEAgent at Dallas; Governor Harding authorized to investigate 2 /10 Letters from, to Senator Smoot of Utah, and to RAgent at San Francisco, re alleged political activity of Henry D. 4 /10 Lcyle, counsel for Salt Lake Oity Branch AO 284 286 307 230 333 10 AO AO 90 184 LIX page F. L. Board: (continued) Meeting of Consulting Architect Trowbridge, 11r. Ten Eyck, Mr. Tone of Jarborundum Jo. and Mr. mowery of American Abrasive Metal Jo. with Board, to discuss information given by Lir. Trowbridge to member banAs re recent vault 3 /13 tests at Sandy Hook Meeting of, with Jhairman of Building Committee of New Orleans Branch, re erection of proposed new building for branch 3/ 9 Meeting of, with J. S. Dodge, Superintendent of Banks of State of California, to discuss certain phases of banking 6/5 situation in Jalifornia Meeting of Senator Owen with, to discuss provisions of 1 /30 Senate Bill 2915 Meetings of; time of regular, changed from 10.30 to 10 for period daylight saving schedule is in effect in 6/7 Washington Meetings of, to be held on Monday, Wednesday and Friday of 1 /6 each week Meetings of, to be held on Tuesday, Wednesday, and Thursday 5 /15 of each week, during summer Obsolete records of; acceptance of bid of Merchants' Transfer & Storage Jo. for transportation to old Bureau 6 /27 of Engraving and Printing Organization chart: See under heading "Organization Chart, F. R. Board" Quarters: Assembly'room for Board's use; Governor authorized to make arrangements and disburse funds necessary for 3/ 3 suitable, ROOMS 297 and 299 in Treasury Bldg. to be used as, the Treasury Dept. agreeing to make necessary 3/6 alterations Division of Issue & Redemption; installing of modified 3 /22 lighting system in, at cost of 4270.00, authorized in, shelves Division of printing; installation of wooden 1 /18 for storing back numbers of 2aBu11etin, authorized table of disposition and Equipment for new assenbly room, in present assembly room in National Metropolitan Bank 3/8 Bldg.; referred to Governor with payer of purposes; memo. filing for used Equipment for quarters Assistant Secretary suggesting spending of 41,500 for 3 /24 acquiring adequate, Otis in offices Board's in system bell call Installation of 6 /12 Building; bid of Delta Electric Co. for, accepted and National Jity, Y. Broad N. Street, Leases at 450 Metropolitan Bank Bldg., Washington, D. C., authorized terminated, divisions located therein to be housed in 3/ 3 Otis Bldg., Washington, D. J. and Bldg., Bank Metropolitan Removal of, from National payment of 4943 for reinstating certain partitions in 4 /21 building 137 133 279 65 287 10 236 318 119 123 157 41 128 163 294 119 202 LX Pga F. R. Board: (continued) Quarters: Terminating of leases covering, In Rapley Bldg., and lease of space in Otis Bldg. for certain of Board's Divisions, authorized 3/ 2 Regular meetings of, changed to 1,1onday, ,Wednesday, and Friday of each week 1 /6 Reply of, to letter from Senator McLean, asking opinion re certain amendments to FRIct offered in Senate by senator Harris 1 /11 Rug; acceptance of offer of 4150 for, in former assembly room in National Metropolitan Bank Bldg. 4 /26 special meeting of, called for March 2nd., 1922 3/ 2 special meeting of, called for March 9, 1922 3/ 9 special meeting of, called for May 4, 1922 5 /4 Special meeting of, called. for May 22, 1922 5 /22 special meeting of, called for May 29, 1922 5 /29 Special meeting of, called for June 5, 1922 6/5 special meeting of, called for June 12th., 1922 6 /12 special meeting of, called for June 28th., 1922 6 /28 stenographic report of meeting of April 13th., filed in records as part of minutes of same date 4 /13 3torage of obsolete records of, in sub-basement of Auditor's . Bldg„ authorized 6 /20 Storage room in Treasury Bldg.; Board to install steel Shelving in, at cost of $420.00 1 /4 storing of old and obsolete records of; statement by Gov. Harding re lack of sufficient space for, 4 /10 Messrs. Platt and Hamlin appointed committee on disposition of useless papers 4 /10 Summer schedule of meetings of, an Tuesday, Wednesday and Thursday of each week, resumed 5 /15 useless papers; report of committee re disposition of, 5 /29 F. R. Bulletin: Announcement to be made by Dr. H. P. Willis in April Bulletin of his resignation as Director of Division of Analysis & Research, and transfer of the Division to washington 3 /22 Disposition of old and obsolete copies of; gem. of Assistant Secretary re; Board authorizes effort be made to secure such back numbers as maj be needed to complete files now in its possession 3 /15 Expenditure in connection with; resolution of U. S. Senate calling for, and for alleged expenditures for newspaper publicity by FRBoard 6/8 Five hundred copies of, authorized for free distribution at foreign trade convention to be held shortly in Phila. 4 /10 Index digest of, for 1921, completed by Mr. Hamlin; printing and distribution of 2,500 copies of, authorized 2 /17 1115 10 208 111 24 .2,26/. 128'3, 2641 218 290 328 181 308 4 182 46 261 156 141 as9 363 300 page F. R. Bulletin: (continued) Index digest of, for 1921; ordering of 5,000 copies of, 3 22 for distribution, authorized Installing of wooden shelves in Rapley Building for storing 1 /18 back numbers of, at cost of 4134.00, authorized Inter American High Commission to receive twenty copies of, 3 /20 each month, in addition to copy now mailed of ordered copies June Bulletin twenty-five hundred and One furnished to president Treat of American Credit Indemnity 6 /20 Company publishing in, of names of members of Federal Advisory 5 /19 Council upon inside of front page, authorized publishing in, of ruling re capital required of national banks in Wisconsin applying for permits to exercise 1 /25 fiduciary powers Request from Secretary of Treasury that proof sheets of Board's Review of the Month be transmitted to him each 2 /10 month previous to publication in F. R. Bulletin Ruling on domestic acceptances; recommendation of 1 /9 General Counsel that same be published in PRBulletin F. R. Club of F. H. Bank of New York: Appropriation by ERBank of New York of certain sum for, for 5 /22 1922, for educational work P. R. Districts: Transfer of member banks in Jessamine, Lincoln, McCreery & Pulaski Counties, Kentucky, from fourth to eighth FRDistriat 6 /5 F. R. Examiners: Limitation imposed by RAct upon, re cooperation with state bank examiners and clearing house bank examiners; letter from Assistant RAgent at Cleveland re, 5/8 F. R. Loan Co. of Gainesville, Florida: 6 /21 Use of term "Federal Reserve" by, F. R. Notes: Arrangements made by FRBanr: of Philadelphia with First National Bank of Scranton for keeping supply of, in Scranton, for use of member banks 1 /20 Digraving and printing; circular letter to FRBanks re carrying out suggestions of Assistant Secretary of Treasury Wadsworth re, 3/ 9 P. B. System: Pamphlet on, prepared by Chairmen of ORBanks of New York and Cleveland, designed for educational purposes and distribution by FRBanks and member banks 3 /20 Fiduciary powers: American National Bank of pendleton, Oregon, application of, to surrender permit formerly granted by Board to exercise 1 /25 fiduciary powers; mem. of Div. of Examination re, 158 41 151 305 242 57 88 16 249 281 226 311 47 132 152 56 LXII rag' Fiduciary Powers: (continued) Applications of banks in Wisconsin to exercise; letter from Board to Banking Commissioner of Msconsin re, 1 /13 Barcg- of Alameda, California, granted permission to establish a trust department 2/1 Exercise of, by national banks; printing of 2,500 copies of summary of results of Board's questionnaire re,authorized 3 / 1 Exercise of, by state member banks, and establishment by latter of trust departments; reply to inquiry from san Francisco whether sane require Board's approval 1 /11 Hub Trust Co. of Boston authorized to establish trust department 6 /27 National barks granted permission to act in fiduciary capacities; letter from Board to FRBanks transmitting pamphlets containing replies to questionnaire sent to, October 12th., 1921 6 /13 Northeast—TaconY Bank of Philadelphia authorized to exercise, 3 /10 Ruling re reserves against liabilities resulting from receipt and use of trust funds, ordered transmitted all Governors and FRAgents 4 /19 First Federal Foreign Banking Association of New 'Park 04y; Report of examination of, as at close of business March 13, 1922, submitted, with comments by Chief Examiner 5 /21 First State Bank, Alamogordo, New Mexico: Application of, to change name of First State Bank of Cloudoroft, New Ilexico,to, and its location to Alamogordo, New Mexico, also to absorb peoples, State Bank and Alamo State Bank of Alamogordo 6 /22 First National Bank, Billings, Oklahoma: Application of, to reduce capital stock from 440,000 to 425,000, approved 6/1 First National Bank, Bishop, California: Authorized to reduce capital stock from 4100,000 to $50,000 6 /20 First National Bank, Burkburnett, Texas: Application of, for reduction in capital stock; memo. from Deputy Comptroller of the Currency re, 6 /20 First National Bank, Calipatria, Cal. Reduction in capital stock, approved 1 /16 First National Bank, Chesaning, Uichigan: Appliaation of, for reduction in capital stock; memo. from Deputy Comptroller of the Currency re, 6 /20 First National Bank, ,;()(1y, Wyoming: Application of, to reduce its capital stock, disapproved 1 /6 First National Bank, Corydon, Indiana: Failure of; complaints received by Secretary of Treasury from Mr. Gresham of New Albany, Indiana, in connection 3/9 with, First National Bank, Durant, Oklahoma: Loan limitation of,in view of alleged impairment in capital; 6 /29 proposed letter to Dallas re, 31 7Z 116 23 319 291 155 191 259 314 414 306 306 35 30 133 page First National Bank, Grand Forks, North Dakota: Letter from Board to Vice President of, re bank acting as 3/ 8 attorney in fact for one of its customers First National Bank, Halfway,.Oregon: Application of, to reduce capital stock from 450,000 to 6 /12 425,000, approved upon certain conditions First National Bank, Lamesa, Texas: Authorized to reduce capital stock from 450,000 to $30,000, 2 /27 subject to certain conditions First National Bank, Lancaster, Texas: Reduction in capital of, from A00,000 to $50,000 2/6 First National Bank, Los Angeles, Cal. Correspondence between RAgent at San Francisco and president of, re tentative approval given by Board to establishment 2 /24 of certain branches by Los Angeles Trust & Savings Bank Letter from FRAgent at San Francisco making further 2 /24 reference to above matter First National Bank, Monte Vista, Colorado: 4/3 Authorized to reduce capital from .400,000 to $50,000 National Baia, Otis, First Colorado: Reduction in capital stock of, from 440,000 to 425,000, authorized 1 /18 First National Bank, Scranton, pa. Arrangements made with, by FRBank of philadelphia, for keeping in Scranton supply of F. R. notes for use of member banks 1 /20 First State Bank, Jloudcroft, New Mexico: Name changed to First State Bank of Alamogordo, and location changed to Alamogordo, New Mexico 6 /22 Fiscal Agency Operations: Suggestion of Governor Jtrong that FRBanks decline reimburse— by the Government for, 6 /27 Fiscal Agent's Department, F. R. Bank of Atlanta: Resolution of Board of Directors of Atlanta protesting against absorption by Bank of expenses incurred through operations of, 1 /20 Five Per Cent Redemption Funds: Funds deposited by national banks with ERBanks am branches for credit in, 5/8 Foreign Trade Convention: Holding of, at early date in Philadelphia; Board authorizes free distribution of 500 copies of AlBulletin to 4 /10 convention Forms Committee, F. I. Board: See under "Committees, F. R. Board" Forms, F. R. Board: Printers' proofs of certain proposed Clayton Act forms, 4 /26 submitted by Assistant Counsel Wyatt to Board; approved Revision of Form 105, used by State member banks in their 2 /15 condition reports, authorized upon request of Mr. Snead 126 292 111 79 108 108 174 43 47 314 321 46 227 183 210 95 Page Franchise Tax: Revised estimate of =mint of FRBauks will S pay during fiscal year ending June 30, 1923, set at 410,000,000 by RBoard 6 Freeman, Edgar W., Assistant Counsel, F. R. Board: Memorandum of, re application of Budget and Accounting Act of 1921 to FRBoard 6 Secretary instructed to acquaint persons in charge of accounting af AiBoard with contents of above memorandum 6 Memorandum of, re question of law involving warehouse receipts, under section 5200 of Revised Statutes, issued by owner of goods covered 1 Freight Rates on shipments of Wheat Stopped in Transit: Beard's help requested by Kansas City in matter of securing favorable consideration by Interstate Commerce Commission in re, French American Banking Corporation: Permission granted, to accept for purpose of creating dollar exchange in Dutch East Indies /26 /6 /7 OA 286 /25 57 1 /20 46 2 /17 99 ttGtt • Gainesville & Northwestern Railroad Co. Form of loan for 05,000 to, 1/25 General Bankers' Acceptance Committee: Meeting of, in Chicago, June 12th.; General Counsel of Board authorized to attend, 6/1 General Coln-melt F. R. Board: See under "Counsel, General" German Reichsbank: Certain arrangements proposed to be made by MBank of New York with; formal approval of FRBoard given to, 2/4 Gold Certificates: Payment of, for Treasury account, by RBanks as fiscal agents for the Government; instructions from Secretary of Treasury that no further limitation be placed upon, 3/9 Policy of paying out, by RBanks; letters from 3oard to Banks re, 3/ 9 3/9 Policy of paying out; reply of Chicago to Board's circular letters M-3353 and k-3354 re, 3 /15 Supply of, proposed to be furnished by Treasury Dept. to XRBanks; reply of Board to letter from Under Secretary of the Treasury re, 3/24 Gold Join: Paying out of, in denomination of $2.50; letter from Under Secretary of the Treasury enclosing correspondence with 2 /15 FRBank of New York re, 56 3.13 I 76 3,z2 131 141 163 94 LXV page Gold Holdings of F. R. Banks: , Loss and gain in; attention called by Governor Harding to certain objections to publication of that part of statement issued by Board to press under date of Feb. 16, 2 /17 1922, re Gold In Vaults at El Paso Branch: Advisability of removing, owing to unsettled conditions in 6 /29 Mexico; letter from RAgent Ramsey re, Government Securities: Purchase of, by FRBanks, for their awn account; opinion of Counsel that Board has legal right to Impose restrictions 4 /14 upon than districts other FRBanks, In Purchase or sale of, by their own; request from Under Secretary of the Treasury 3 /22 for ruling by Board re, Recent increased purchases in holdings of, by FRBanks; letter 4 /14 from Under Secretary of the Treasury re, Governors: Conference of, ' See under ',Governors' conference, Governors' Conference: certain recommendations submitted by, concurred in by •5 /23 FRBoard 5 /23 Minutes of, transmitted Board by Secretary Harrison 3/ 6 Next, to be held May 2, 1922 2 /27 No date set for next, Procedure followed by ER3oard in approving or disapproving action taken by; letter from Mr. George L. Harrison re, 6 /15 Recommendations made by; letter to FRBanks re procedure 3 /24 to be followed by ERBoard in taking action upon, Various topics submitted at last; report by 1.1r. Platt re, 6 /13 Gresham, Mx., of New Albany, Indiana: Complaints from, to Secretary of the Treasury, in connection 3/9 with failure of First National Bank of Corydon, Indiana Guayquil, Eouxior: Communication from a bank in, re letters of credit for American trade, submitted to Board by Secretary of the 5 /22 Treasury for comment Gulf, Mobile & Northern Railroad Co. 2 /27 Farm of loan for i;918,500 to, Hamlin, Charles S., Member, F. R. Board: Statement by, re completion of Index Digest of FRBulletin for 1921; printing and distribution of 2,500 copies of, 2 /17 authorized 100 334 190 157 190 255 255 122 113 302 161 297 133 248 112 100 Page Harding, W. P. G., Governor, F. R. Board: Invited to attend convention of Alabama Bankers' Association 3/ 3 in Mobile during May Letter from, to Secretary Mellon, indicating objections to last paragraph of Senate Bill 2263, now before tte President 5 /25 Matters learned by, in recent trip to Kansas city and Jhicago, re situation existing in :MBank of Dallas 2 /27 Reply of, to Senator Robinson, re suggestion of banker in Arkansas that FRBanks and member banks be allowed to invest 50; of reserves in proposed soldier bonus certificates 3 /15 Statement by, re certain representations made to Jomptroller and himself by persons making official investigation of failure of National Bank of Jleburne, Texas 4/5 Statement by, re problem of storing old and obsolete records: Messrs. platt and Hamlin appointed committee an disposition of useless papers 4 /10 3/3 To take short vacation during May Harris Amendment to F. R. Act: Board's reply to Senator maLean's request for opinion re, 1 /11 passage of, prohibiting erection of any building by FRBanks or branches in excess of c'250,000, without consent of Jongress 5 /24 Letter from Governor Harding to Secretary of the Treasury indicating legal and practical objections to last paragraph of above Bill which is now before the president 5 /25 Harris, (Senator) qilliam J., Georgia: Amendment to FRAat proposed by, whereby no contracts for FRBank buildings may be let without consent of Uongress 1 /5 Information requested by, re number of banks eligible for membership in RSystem should Senate Bill 3531 become law 6/7 Letter from, asking Board's views re proposed amendment to Section 9 of FRAct authorizing State banks with less than $25,000 capital under certain conditions to become members of RSystem 4 /17 Hartford, W. H., Nashville, Tenn. Letter from, transmitting application from three banks in Ohattanooga that that city no longer be classified as reserve city 6 /27 Havana Branch of National Jity Bank of New York: proposed arrangement of FRBank of Atlanta for supplying currency to Juba through, 1/9 Haymarket National Bank: Absorption of, by Massachusetts Trust Jo. of Boston 1 /30 119 262 115 145 116 lag 119 25 20. 362 286 1a4 37,1 15" 66 Page Hearings, F. R. Board: Hearing to be granted representatives of three banks in Chattanooga, Tenn., re matter of no longer classifying 6 /29 Chattanooga as reserve city Alabama: senator from Thomas, Heflin, J. Resolution of U. S. Senate introduced by, calling upon Board for reply in re alleged expenditures for newspaper publicity, and in re expenditure for publishing RBulletin 6/ 8 Hendrick, A. W., Vice President of joint Stock Land Bank of California: Criticism of RSystem by; correspondence re, between el&gent 1 /la Perrin and President of Bank of Italy Hocking Valley Railway Co. Form of loan for $1,665,000 to, carrier taking down third and 6 /13 fourth installments House Bill 83992 Section 11 of; inquiry from Chairman of Banking & Currency Committee whether necessary to have provisions of, extended 1 /20 to October 31, 1922 House Bill 8996: Views of Board re, transmitted Senator McLean, as to minimum number of calls for statements of condition of national 6 /13 banks Comptroller of Currency should issue during year House Bill to Amend F. R. Act: Views of Board re proposed, having reference to last paragraph 4 /14 of Section 11(k) Hub Trust Co., of Boston, Mass. 6 /27 Application of, to establish trust department, approved Hunter Manufacturing Commission Co. Certain paper of, submitted by Amerloan Trust Co. of Charlotte, N. O.,to YRBank of Richmond for discount, declined by FRBank 4 as ineligible AO Index Digest of F. R. Bulletin for 1921: Completion of, by Mr. Hamlin; printing and distribution of 2 /17 2,500 copies authorized 3 /22 Ordering of 5,000 copies for distribution, authorized Industrial Trust Co. of providence, R. I. Authorized to take over and liquidate Slater Trust Co. of pawtuaket with view to consolidating latter with pawtucket 5 /19 branch of Industrial Trust Co. Letter from FRAgent at Boston enclosing letter from 5 /23 Industrial Trust Co.,re above Insurance Companies: Modified agreement between FRBank of New York and certain, 5 /31 re premiums on fidelity insurance 334 289 38 296 48 296 189 319 184 100 158 245 253 269 Page Inter-American High Commission: Request from, that Board furnish it with twenty copies of FRBulletin each month, in addition to copy now mailed Commission 3 /20 Inter-Bank Conferences: General policy of; letter from Board to Deputy Governor Harrison re moestion for holding conference of Eligibility - Committee of FRBanks re, 1 /20 Inter-District Transit Time Schedules: Conference between representatives of FRBanks of Boston, New York & Philadelphia with FRBoard to discuss, 6/2 No change in, issued by Boston and New York, but Philadelphia to change schedule 6/2 Interlocking Directorates: Applications for, approved Anderson, A. F. 2 /20 Bains, iward 5 /24 Baker, William G. 1 /25 Baker, dilliam G., Jr. 1/9 Barrett, Thomas J. 2/8 Beck, John A. 1 /5 Benedict, Lorenzo 2/8 Benjamin, Francis P. 3 /24 Berry, A. E. 4 /25 Bjork, Niles 2 8 Bowen, Harry 2 8 Bradley, James T. 2/6 Brooks, F. F. 1 /5 Carry, Albert 3 /20 Chaffee, C. H 4 /28 Chalfant, Henry 1 /5 Clarke, James A. 2 /20 Clause, W. L. 1 /5 Cochran, George I. 1 /20 Cooks, Jay 4 /21 Cooper, Wade H. 4 /19 Cot tingb- m, T. J. 6/5 Crawford, G. W. 1 /5 Crowley, Joseph J. 5 /22 Crulk.shank, Warren 1 /20 Curry, LL. 1 /5 Davis, Edward W. 5/3 Dearing, Charles O. 5 /10 Donaldson, J. A. 1 /5 Duncan, A. E. 4 /26 Fitzgerald, Wesley G. 6 /27 Foulkrod, William Vh, Jr. 2 /20 Frost, Ze A. 6 /27 151 4 2 104 260 60 11 86 9 86 164 20/ 86 86 81 9 154 0 9 104 9 52 30 199 20 9 20 53 9 20 23° 9 41 30 106 32, LXIX page Interlocking Directorates: (continued) Applications for, approved Fulton, John H. Furst, William 5. Gaffney, R. U. George, W. D. Green, Oharles Green, Harry Groves, John G. Hagey, John F. Hamilton, William A. Hamdlin, F. A. Hearne, Wm* H. Hitchcock, Howard Hoffman, J. G., Jr* Igoe, peter Ingwersen, J. H. Jackson, Frank R. Jacoby, 0. D. Jones, B. F., 3rd* Jones, janes E. Kiddoo, 6. T. Klank, Lorton J. Lagonarsino, John Law, William A. Layman, D. T. Lloyd, F. H. Lynch, Qhristian W. McUrea, J. A. McGraw, J. j, Mann, Eawin Mann, Isaac T. Marchant, Roland R. Mason, John H. Mayer, Richard Mays, Ed Meade, j. F. Miles, 'W. O. Mitchell, W. D. Moreland, A. M. Morgan, F. U. Morse, Silas B. Mott, Jharles Stewart Norwood, J. W. Oleson, John P. Oliver, Joseph D. Osterhout, F. E. 3 /15 2 /20 3 /15 1 /5 3 /10 2 /20 5 /3 2/e 2 /20 5 /10 1 /5 2/8 6/22 1/13 5/22 6 /27 3 /10 1 /5 2/8 6 /13 2/20 4 /14 4/5 1/5 1 /5 4/5 1 /5 2/6 2/8 2/8 1/30 4 /28 2 /20 2/20 4/5 2/24 3 /13 1 /5 1 /5 5/12 5 /10 6/27 2/4 4/5 2 /17 144 104 145 9 136 105 222 86 105 230 9 87 316 31 252 323 136 9 86 298 104 192 177 9 9 178 9 81 87 86 68 214 104 104 178 110 142 9 9 234 231 323 77 177 101 LK& pa Interlocking Directorates; (continued) Applications for, approved. Paine, Augustus G., Jr. Painter, Geort.: E. Paul, 0. A. Pollard, william Renshaw, Wm. A. Robbins, R. D., Jr. Robinson, A. 0 Boehm, Oharles N. Rosenfeld, Sanuel Sands, L. E. Scott, I. a. sheble, Prank J. Shedd, John G. Sheldon, J. 'a. Skinner, Joseph A. Smith, Andrew Smith, Willard. R. Sollenberger, 1.1, E. Spencer, George E. Staats, Walter J. Steinman, Walter J. Stevens, Fred N. Strittmatter, J. P. Thaw, Benjamin Thomas, L. E. Thurwood, Frank O. Trainer, Joseph U. Tracker, Theodore Tyson, James Vaughan, Ira Vaughn, Ernest H. Walker, 13. S. Wall, Albert C. Warburg, Pull M. Wa.rdrop, Robert Wattles, Gurdon W. 'Webb, Arthur Weitzenhoffer, G. S. Welch, Hillard E. Wert, E. H. Williams, J. C. Willis, Emerson. M. J. 1. Wilson, Thomas E. Woodruff, Goorge 3/6 2 /20 5 /29 5/12 1 /5 2 /17 1/5 5/8 2 /20 1 /5 1 /5 1/25 1 /9 4 /17 3 /27 1/16 3 /10 4 /19 3 /10 5 /19 2 /20 1/25 5 /24 115 4 /19 5 /8 2/20 1/16 5/23 4/3 2/8 1/20 4/3 3 /27 1 /5 4/25 2/s) 6 /12 5 /17 2 720 4/3 4/14 1 /5 2 /17 4/28 1 g66 9 101 9 228 106 9 9 60 17 196 166 36 06 199 06 246 106 60 260 9 199 0 104 36 266 10 86 0 10 166 9 201 104 284 2,0 1 1 193 9 101 0 LI Page Interlocking Directorates: (continued) Applications for, approved 6 /12 Wright, Leroy A. 2/ 8 Wrigley, William, Jr. 1 /9 /bunt, M. F. Applications for, held 5 /24 Beury, Charles E. American Security Carry, Albert, to serve as director of & Trust Co., and aommercial National Bank, both of 5 /22 Washington, D. U. 5 /24 Gilbert, John Y. Reuter, Charles E. 5 /2/1 4 /14 Sheldon, O. d. Applications for, refused 1 /9 Black, Van Lear 2 /is Flint, Dutee T. 6/5 Gallivan, J. F. 6/5 Gower, T. 0. 1 /9 Griswold, Howell, Jr. 2 /27 Groves, John G. 2 /17 Love, Walter T. 3/8 Loore, James 0. 4 /21 NUtile, Thomas 1 /16 Phillips, Lee A. Messrs. McGarrah, McHugh, & Campbell, of Mechanics & Metals National Bank of New York City; Board favorably disposed toward granting to, privilege of serving also as directors 4 /14 of Lincoln Trust Co. of New York City International Acceptance Bank: Board's Chief ETaminer to make periodical examinations of, in future; letter from Governor Harding to Mr. Warburg 6/8 advising re, Request from, for permission to accept, far purpose of creating dollar exchange in Dutch East Indies; docketed for Jan. 1 /26 30th. 1 /30 Request approved. International Banking Corporation: Examination of European branches of, by certain national bank 6 /29 examiners during trip to Europe in near future Interstate aommerce• Commission: Board's help requested in matter of securing favorable consideration by, re freight rates on shipments of wheat 1 /20 stopped in transit Interstate Trust Co. of Denver, Colorado: Letter from, re quarters of Denver Branch of MBank of Kansas 1 /18 City Intra-District Time Schedules: Differences between,of eRBanks of Boston, New York & Phila.; representatives of RBanks to meet with Board with view to 5 /24 harmonizing schedules 294 87 17 260 251 260 260 192 17 97 283 283 17 114 101 129 204 36 191 288 61 65-6 333 46 38 258 Island of Cuba: ,Cuba', See under ' Iijlt Jacobson, Morris: Reaomendation for attendance by, at forthcoming conference of Government Librarians in Washington 6 /21 Jefferson Bank, 4t. Louis, 2o. Reduction in reserve requirements to 7p; on demand, and 34; 1 on time, deposits 6 /20 Joint Stock Land Bank, of California: Correspondence between ERAgent Perrin and president of Bank of Italy re certain criticisms of FRSystem by Vice president of, 1 /16 330g 11-Ktt Kansas City Clearing House Association: Resolutions passed by, re freight rates an shipments of wheat stopped in transit, transmitted by Kansas City with' request that Board cooperate in securing favorableconsideration by Interstate Comoro° Commission 1 /20 Kentucky: Loans in; FRBoard approves concentrating at Louisville Branch all applications for, made to Sax Finance Corporation 1 /30 Loans in; letter from Farm Loan Agency at Louisville suggesting concentrating, at Louisville Branch, instead of divided between eighth and fourth F. R. Districts 1 /25 Transfer of met:war banks in. Jessamine, Lincoln, McCreery, & pulaski Counties, Kentucky, from fourth to eighth F. R. District 6/5 King,(Senator)william H., of Utah: Letter from, re manner in which San Francisco is about to let contracts for building for Salt Lake City Branch 1 ir 4 Board's reply 1/ Leased Wire Committee: Appointment of sub-committee of, consisting of representatives of Board and FRBanks of New York, Cleveland, & Chicago, to study and report an Leased Wire System 2 /10 Recommendation of, submitted by Chairman, for Board's approval 6 /27 46 61 56 26/ 4 69' page Leased Wire System: Appointment of sub-committee of Leased Wire Committee, consisting of representatives of Board and FRBmaks of New York, Cleveland, & Chicago to study and report on 2 /10 Leased Wire System Costa and detail operations of, submitted by Assistant Secretary, in connection with request from Chicago for 1 /18 installation of an extra wire Direct wire between New York and Chicago, temporary installation of, in interest of studies being conducted re 2 /10 entire system Recommendations of Committee on, submitted by Chairman 6 /27 McDougal for Board's approval Telegraph operators: 5 /17 Wheelhouse, F. W., resignation Leases, F. R. Board: Governor authorized to terminate, at #50 Broad street, N. Y. City, and National Metropolitan Bank Bldg., Washington, D. J., the divisions located therein to be 3/ 3 housed. to. Otis Bldg., Washington, D. C. Terminating of, covering quarters in Rapley Building, and lease of apace in Otis Bldg. for certain of Board's 3/ 2 Divisions, authorized Mr. to Mitchell: Secretary Leonard, R. F., Return of, from State Departm3nt, ani name again placed upon 1 /30 payroll of FRBoard Letters of Credit: Communication from a bark at Guayquil, Ecuador, re, for 5 /22 American trade Opening of, by national banks; letter from Board to Anglo2/ 8 South American Bank of New York City re, 2/17 Liberty Bonds: Proposed investment by Philadelphia in not more than 4 /10 $8,000,000 of; Board's opinion requested re, Library, F. R. Board: Expenditure of $536.00 for purchase of additional equipment 4/5 for, authorized Lincoln County National Bank of Stanford, Kentucky: Authority granted, to reduce capital stock from $100,000 to 5 /15 .T.50,000 Live Stock and Agricultural Paper: Ruling of Board re 1scount of six months, by any FRBank, up 5/3 to 99/2 of its assets Live Stock Exchange National Bank of Chicago: Application of, to reduce capital from $1,250,000 to 6 /28 41,000,000, approved 89-90 41 89 320 211 119 118 68 248 82 99 184 175-6 235 219-20 330 Loans: Applications for, originating in Kentucky, made to War Finance corporation; Board approves concentrating, at 1 /30 Louisville Branch Durant, of of, Oklahoma, Bank loan limitation National First in view of alleged impairment in capital; proposed letter 6 /29 to Dallas re, General S., Counsel: 'Walter Logan, Authorized to attend meeting of certain YRAgents in New York March. 30th,, for purpose of considering question of reserve 3 /29 requirements Authorized to attend meeting of General Bankers' Acceptance 6/1 Committee in Chicago, June 12th. London: Appropriation of 42,000 for expenditure in connection with work to be done for FRBoard through Consulate in, far year 1922, same also covering deficit of 428.50 incurred during 1 /5 1921 • Expenditure for certain work done for RBoard through Consulate in; correspondence re, between Division of 1 /5 Analysis & Research and Department of State Los Angeles: Establishment by member state banks in, of agencies or 4 /28 currency depots in Los Angeles Los Angeles Trust & Savings Bank, Los Angeles, Cal. Acceptance by, of Board's interpretation of condition No. 6 5 /17 re acquiring of interest in other banks Application of, to establish two additional branches in Los Angeles, held, without action, pending return of Messrs 4 /21 Miller and. Mitchell to Washington Authorized to acquire and convert into three additional branches four banks at Long Beach, Hanford & Lindsay, 4 121 Cal., as approved by Messrs. Mitchell and Miller Authorized to establish additional branch in Los Angeles 5/1 Authorized to establish additional branch in Los Angeles 5 /19 Authorized to establish additional branch in Los Angeles 5 /29 Authorized to establish branch far use as agency, or receiving station for deposits, at .1060 North Western 5/3 Avenue, Los Angeles Authorized to establish five branches to replace same number of branches of Bank of Santa Maria, and Commercial & Savings Bank of Santa Barbara, as approved by Messrs.. 4 Miller and Mitchell Authorized to establish seven branches in Los Angeles, the same to be merely agencies or local receiving stations for 5 deposits Authorized to establish two additional branches in Los 5 Angeles 5 Location of above two branches changed 61 168 6 215 0 20 20° 211 2/14 266 0 L:ca Page Los Angeles Trust & Savings Bank, Los Angeles, cal. 5/8 Authorized to establish two branches in pasadena Jorrespondenae between FRAgent at san Francisco and President of 2irst National Bank of Los Angeles re tentative approval 2 /24 by Board to establishment of certain branches by, Letter from FRAgent at San Francisco making further 2 /24 reference to above matter Letter from President of, re tentative approval by Board to acquirement by, of eleven banks for conversion into nine branches, urging consummation of transaction by one 3/1 operation Letter from San Francisco making additional observations and recommendations re permission granted by FaBoard to, to acquire certain banks as branches; Board makes no 3 /29 change in previous action Repay of Board to letter from FRAgent perrin re establish5 /17 ment of branches by, Tentative approval by Board to acquisition by, of First National Bank of Hollywood, Cal., and conversion of same 2 /24 into branch Tentative approval by Board to contemplated acquisition of thirteen banks by, with view to consolidating same into 2 /15 nine branzhes 227 108 108 115-16 168 240 108 96-7 Itatt LoAdoo, William G. Board's reply to communications from &Agent Perrin re policy and procedure of Bank of Italy in matter of acquiring 2/ 1 branches, copy of, forwarded Mr. McAdoo McFadden, Louis T., Representative from Pennsylvania: Zatension of invitation to, to discuss with FRBoard bill recently prepareu by him with view to amending Sections 2/8 13 and 16 of FRAat Marine, Clarence: Nominated as member of Superior Liquidating Commission in Havana, Cuba, in place of Oscar Wells, upon request of 1 /20 General Crowder Massachusetts Trust Co. of Boston: Authority granted, to absorb Haymarket National Bank, and 1 /30 to maintain present quarters of latter as branch Meetings, F. R. Board: See under "F. R. Board" 71 83 45 66 Member Bank Examinations: Authority of FRBank examiners in matter of; letter from Chicago re, 1 /20 Letter from Comptroller of the Currency re directors of FaBanks having access to reports of, 2/1 Member Banks: Abuses practiced by certain, in matter of granting acceptance credits; memo. of Comptroller of Currency to Board re, 5 /22 California: Reserve requirements against special savings deposits; Mr. Edward Elliott of California to meet with Board to discuss, 5 /23 Discussion between 7,:r. Elliott and Board re; committee appointed to investigate and report on matter 6 /14 Dexter, Mo.; request from member bank in, that all items on Dexter be sent by RBank of St. Louis to its bank, whether or not same are drawn an certain non-member bank in sane place; Board approves sending each bank concerned items drawn upon itself 4 /26 Member bank in third district; complaint from, to Comptroller of Currency, re quality of service rendered by MBank of Philadelphia in matter of executing an order far purchase and sale of securities; Governor authorized to secure certain information re, 4 /28 Member state banks in Los Angeles, establishment by, of agencies or currency depots in Los Angeles 4 /28 Monticello State Bank of Monticello, Utah; application of, to absorb San Juan State Bank of Blanding, Utah, disapproved 5 /29 Phoenix, Arizona; situation which has arisen owing to acquisition by meMber bank in, of branches in different FRDistrict; referred to Counsel 5 /31 States Branches of; specific information requested by ARAgent Perrin of an Francisco, in view of Governor Haxding's letter of April 28th., 1922 5 /8 Establishment of trust departments and exercise of fiduciary powers by; reply to inquiry from San Francisco whether sane require Board's approval 1 /11 Reduction in capital stock by; circular letter from Board to all FRBanks re, amending general condition No. 4 3 /27 Transfer of, in Jessamine, Lincoln, McCreery, & pulaski Counties, Ky., from fourth to eighth FRDistriat 6/5 Transmission by FRBaaks of orders for accounts or, direct to brokerage houses in other districts; letters from Board to Deputy Governor Adelson of Atlanta and Under Secretary of Treasury re, 4 /14 47 70 261 233 Z99 209 az 213 269 269 221 23 166 263' 191 Page Member Banks: (continued) Unauthorized action of member bank in changing location and taking over other banks without first securing permission 6 /15 Agent at Dallas re, of FRBoard; letter from Members, F. R. Board: Proposal that two, go to California to investigate acquisition and control of branch banks by state member banks in 2/3 California 2/ 6 Membership in FRS: Berks County Trust Co., Reading, pa.; matter of waiver of one of conditions of membership originally imposed upon, 5/8 referred to Law Committee 6 /29 denied 3, No. condition Application to waive one of modification Florida; Wales, Lake of Citizens Bank 2/ 4 of original conditions of membership Chicago of reply Detroit; of Bank Savings State Commercial to letter from Board advising of disposition to grant 4 /14 application of, Commercial State Savings Bank of Detroit; waiver of condition of membership imposed upon, by &Board, left to discretion 6 /12 of FRAgent at Chicago Los Angeles Trust & Savings Bank, acceptance by, of Board's interpretation of condition of membership NO. 6 re ac5 117 quiring of interest in other banks Number of banks eligible for, should pending Senate Bill 3531 become law; information re, requested by Senator 6/ 7 Harris Rittenhouse Trust Co. of Philadelphia; condition of member1 /25 ship No. 1 imposed upon, at time of admission, waived Sacramento-San Joaquin Bank, Sacramento, Cal.; requiring of, to surrender membership in System, sugTested by &Agent 3 /31 Perrin of date Security State Bank of Wanamingo, Minn.; of one of conditions of membership chanapd from Jan. 1 to 1 /25 Feb. 15, 1922 of one of, Union Trust Co., providence, R. I.; modification 4/3 conditions of membership Mercantile Bank of tte Americas: Certain collateral held by, to secure iiicaraguan Gold Exchange Fund; taking over of, by RBank of New York, 2 /15 for account of National Bank of Nicaragua Mercantile Trust Co., San Francisco: Application of, to establish branch at corner of College & 3/ 3 Ashby Avenues, Berkeley, Cal. and Berkeley, of Bank Authorized to acquire First National Berkeley Bankof Savings and Trust Co., and establish three 2 /15 branches in Berkeley, Cal. 302 71 80 227 331 76 192 293 238 286 57 170 56 174 96 120 96 Merchants' Transfer & Storage Co. Acceptance of bid of, for transportation of obsolete records 6 /27 of FRBoard to old Bureau of Engraving and Printing Boston: of Metropolitan Trust Co., Application of, to take over Oceania National Bank of Boston; 2 /15 no objection by Board Mexico: Commercial Attache at Mexico City suggests Board authorize member banks to accept drafts drawn by banks in Mexico for purpose of creating dollar exchange; Board of 3/3 opinion no present need for this facility Miller, Adolph C., Member, F. E. Board: proposed amendment to by-laws of RBoard to be submitted by, week from date, re matter of recording votes of members of 6 /29 FRBoard. and of between, Sprague Ur. conference Harvard Proposed University, to be held in New York re matter of new director for Div. of Analysis & Research; Board authorizes payment 6 /28 of expenses of Mr. Sprague from Boston to New York Board: R. F. Minutes, Stenographic report of, under date of April 13th., filed in 4 /13 records as part of minutes of same date Missouri & North Arkansas Railway Co. 4 /21 Form of loan for $3,500,000 to, Missouri National Bank of St. Louis: Authority granted, to reduce reserve carried against demand r; to 7, as outlying bank in reserve city 6 /27 deposits from 10, Mitchell, John R., Member, F. R. Board: Letter from, to FRAgent Perrin, re establishment of branches 1 /20 by Bank of Italy, authorized transmitted Letters from, to RBank of St. Louis and War Finance Corporation, stating Board's approval of concentrating at Louisville Branch all applications to war Finance Corporation for loans originating in Kentucky 1 /30 Mitchell, John R., Member of F. R. Board: To attend annual meeting of directors of FRBank of St. Louis 5 /22 and branches on June 7th. Monroe County Bank of Monroeville, Alabama: Authorized to form consolidation with Bank of monroeville, Alabama 2 /27 Montgomery Co., Alabama: Transfer of, from Atlanta zone to Birmingham zone, April 3/13 1st. Monthly Reports of Business Conditions: Criticism of report submitted by certain RAgent 1 /30 Monticello State Bank of Monticello, Utah: Application of, to absorb San Juan State Bank of Blanding, 5 /29 Utah, disapproved 316 94 133, 332 337 167 200 317 46 67 36° 11/ 3,40 61 8 ' 26 page Moyle, Henry D., Counsel for Salt Lake city Branch: Alleged political activity on part of; letters from Board to Senator Smoot and FRAgent at San Francisco re, 4 /10 184 UNit National Association of Finishers of Cotton Fabrics: Letter to, prepared by Division of Analysis &Research, re 1/6 furnishing Board. with certain statistical information National Bank Examiners: - National Bank ” See also “Examiners National Bank Notes: Retirement of, from circulation; letter from Under Secretary 3 /20 of Treasury re, National Bank of Cleburne, Texas: Conference of R. L. Van Zandt with FRBoarl re failure °fora 4 /25 re administration of the MBank of Dallas due past paper handling in Dallas of by FRBank Methods used 5 /22 discounted for; advice from Chief Examiner Herson re, transactions of handling re 'Jerson Examiner Report from Chief 5/1 between, and FRBarik of Dallas, by latter representations certain re Harding Statement by Governor made to Comptroller and himself by persons making official 4/5 investigation of failure of, Nicaragua: of National Bank Taking over for account of, by FRBank of New York, of certain collateral held by Mercantile Bank of the Americas to secure 2 /15 Nicaraguan Gold Exchange Fund York New FRBank of of correspondent agent and appointed To be in order that the MBank may act as depositary of collateral 3/3 to secure Nicaraguan Gold Ex3hange Fund National Banks: Acceptance by, of sterling drafts; proposed letter to 6 /22 FRBank of Boston re, Appropriateness of legislation with view to retiring circulation of; letter from Under Secretary of tte Treasury 3/ 6 suggesting, Call for reports of condition of, by Comptroller of Currenay, 1 /3 to be made on Jan. 3, 1922 Exercise of fiduciary powers by; printing of 2,500 copies of summary of results of Board's questionnaire re, 3/1 authorized Funds deposited by, with FRBanks and branches for credit in 5/8 5% redemption funds; letter from Board to FRBanks re, 11 153 207 251 216 176 96 120 315 123 2 116 227 pag3 National Banks: (continued) H. R. Bill 8996 re calls for condition of, by Comptroller of the Currency; views of Board re, transmitted Senator McLean 6/13 Inquiry from FRBank of Minneapolis as to whether Comptroller of Currency has issued ruling whereby national banks may establish branches in cities in which are located the head office; advised no such ruling issued 5 /22 Opening of letters of credit by; letter from Board to Anglo-SouthAnerican Bank of New York City re, 2/8 2 /17 participation by, in "die-coin" plan; me:mo. of :.1r. Wyatt to Comptroller of the Currenly re, 4/ 7 Replies to questionnaire sent, October 12, 1921, to national banks granted permission to act in fiduciary, capacities; letter from Board to FRBanks transmitting, 6 /13 Reports of examination; matter of payment for copies of, forwarded branch banks of MBank of Dallas by Comptroller of the Currency 1 /is Senate Bill 3255 providing for perpetual charters for; views of Board re, set forth in letter to Chairman of Senate Committee on Banking & Currency 3 /20 National Banks in wiaconsin: Capital required of, exercising fiduciary powers; proposed ruling of Board re, 1 /25 National City Bank of Now York: Proposed arrangement by iRBanX of Atlanta far supplying currency to Island of Cuba through Havana branch of, 1/9 Disapproval of, by Secretary of the Treasury, and Board's action of Jan. 9th. in matter, rescinded 2/ a National Metropolitan Bank Building: . payment by Board of 4943 for reinstating certain partitions in, necessitated by removal of Board's quarters from building 4 /21 National Reserve Act: Proposed. bill known as, for submission to Congress of Cuba; request from Secretary of Treasury far Board's opinion re, and Board's reply 2 /13 National Shawmut Bank of Boston, Mass. purchase of additional shares of stock by, in shawmut Corporation, authorized 1 /16 New Bedford Safe Deposit & Trust Co., New Bedfor4Mass. Application of, to broaden its functions through absorption of Textile Trust Co. of New Bedford 3 New York, New Raven & Hartford Railroad Co. Form of loan for 02,758,000 to, carrier taking over 02,100,000 5/22 296 249 83 99 291 34 15Z 67 15-0 85 33 151 241 page New York, New Haven, & Hartford Railroad Co. (continued) Form of loan for 42,758,000 to,. carrier taking over install6 /21 ment of00,000 Form of loan for9,630,000 to, in two parts, carrier taking down second installment of second part of loan in 5 /23 amount of45b* 00,000 Newspaper publicity: Senate Resolution calling upon Board for information re alleged expenditures for, and re expenditures for publish6 /8 ing FRBulletin Nicaraguan Gold Exchange Fund: Collateral held by Mercantile Bank of the Anzricas to secure; taking over of, by FRBank of New York, for National Bank 2 /15 of Nicaragua collateral to secure, 3 /3 depositary of MBank of New York as No Protest Symbol Plan:* Letter from D. A. Mullen re, recommended by Clearing House Section of American Bankers' Association in 1916, 5 /19 suggesting new survey by eithanks in matter of, Norfolk Southern Railway Jo. 3 /29 Form of loan for .4,000,000 to, Northeast-Tacony Bank of Philadelphia: 3 /10 Authorized to exercise fiduciary powers Northwestern Trust Co., St. Louis, Mo. Application of, for reduction in reserve requirements on 4 /26 demand deposits from laiL to 10, approved. Notes: Negotiability of, secured. by chattel or real estate mortgages; 2/4 circular re, and letters relating thereto, 311 254 289 96 120 242 167 135 208 77 "0" Oak Park Trust & Savings Bank of Oak Park, ill. 6 /28 Authorized to take over State Bank of Oak Park Obsolete Records, F. R. Board: Storage of, in sub-basement of Auditor's building, 6 authorized Transportation of, to Old Bureau of Engraving & Printing; acceptance of bid. of Merchants' Transfer & Storage Co. 6 /27 for, Oceanic National Bank of Boston: Application of Metropolitan Trust Jo. of Boston to take over; 2 /15 no objection by Board Organization Chart, F. R. Board: Preparation of, showing plan under which officers and employees 5 /15 are now operating, authorized Chart prepared rem submitted to Board; Governor calls 5 /24 attention to necessity for revision of by-laws AO 326 308 318 94 236 259 rage Owen, Robert L., Senator from Oklahoma: Discussion by, with Board, provisions of Senate Bill 2915 whereby it is proposed to establish machinery for furnish1 /30 ing dollar aurrenay to aountries of urope 65 Sip11 ,Better Banking": Pamphlet ' Authority granted FRBank of New York to print and distribute, 4/ 7 to menber banks Paper: Agricultural; letter from Board to Kansas City re 1 /11 eligibility of certain, for discount Agricultural and livestock, six months; ruling of Board re ) of its assets 5/ 3 discount of, by any FaBarik up to 99; Eligibility for discount of paper of borrower where financial statement of the borrower indicates stocks and bonds mast be reckoned as quick assets; reply of Board to Deputy 1 /9 Governor peple of Riahmond re, Atlanta: at Case Clearance Par Status of proceedings in; advice from General Counsel of 5 /17 MBank of Atlanta re, Atlanta: Against Suit Collection Par Davis as Counsel in, Retainer of 410,000 to be paid John 1 /11 to be pro rated among the several FRBanks par Collection System: Discussion re present status of; Governor requested to invite Representative LiaFadden to come before Board and discuss bill reaently prepared by him with view to ameniing Seations 2/ 8 13 and 16 of RAct Reply of Charles De3. Claiborne of Committee of Five of Ameriaan Bankers' Assoaiatian,to letter from Gov. Harding re H. R. Bill 10071, having reference to collection of 3 /24 checks at par Peoples Bank, Athens, Georgia: 3/6 Consolidation of, and Commercial Bank, Athens, Ga. peoples National Bank, Hot Springs, South Dakota: Application of, for reduction In aapital stock; memo. from 6 /20 Deputy Comptroller of the Currency re, peru: Republic of; letter from \1. W. Cumberland re new banking 3 /29 system established by, modeled after FaSystem Philippine Islands: Banking and currency situation in; memo. of Dr. ',Jinja to Secretary of War re; Board considers memo. canpetent 1/6 survey of situation 161 2,2 410 14 34° 36 63 160 131 50 169 page Philippine National Bank: Acceptance by member banks of drafts drawn by, for purpose of creating dollar exabange; letter from FRBank of ban Francisco re, 5 /24 Phoenix, Arizona: Situation which has arisen owing to acquisition by member bank in, of branches in different FRDistrict; referred to Jounsel 5 /31 Pioneer Bank of porterville, Jal. Application of, to purchase Farmers & Lerahants Bank of Exeter, 2/6 Cal., and establish branch at latter place Platt, Edmund, Vice Governor, F. IL Board: Report compiled by, an various topics submitted at last 6 /13 Governors' Jonference Press Statements: Attention of Board called by Governor to that part of Board's statement of Feb. 16th., 1922, re loss and gain in gold holdings of RBanks, stating objections to publication 2 /17 of this data Letter from Under Secretary of tle Treasury re Board's statement of Larch 2nd. an condition of FRBaaks, requesting statement showing in detail holdings of Government 3/ 8 securities by FRBanks :leekly statement of condition of RBanks; revised form of introductory statement to be used in, 3 /13 Providence Jaunty Savings Bank of Pawtucket, R. I. Rhode Island Hospital Trust Jo. authorized to assume liabilities of, and maintain branch on premises formerly occupied by the savings bank 6/1 %arters, F. R. Banks: Bank buildings; information re, to be furnished Jhairmen 1 /5 of Jommittees on Banking & Ourreney of Senate and House Bank buildings; letter from Board to.FRBanks re proposed amendment to FRAat whereby no contracts for, may be let 1 /5 without consent of Oongress Denver Branch: Lot acquired for new Wilding; request fran -ansas Jity for permission to exchange, 5 /31 Proposed new building, estimated cost of, under two plans 2 /20 submitted; Board approves plan No. 2 New Orleans Branch: New bank building; formal action taken by Atlanta re 3 /13 letting of contracts and proceeding with erection of, 257 269 80 297 100 126 138 273 7 271 102 139-40 Page r:!uarters, F. R. Banks: (continued) New Orleans Branch: (continued) 5 /22 New bank building; progress made in construction of, 5 /29 reported under construction building New bank Branch: Oklahoma City 6/5 Bank building; commencement of work an, May 23rd. of, construction for of contracts letting building; Bank 5 /4 authorized, cost being estimated at .461,560 inquiry Board's of to reply City building; Kansas Bank re progress of construction on, and dates an which 6 /20 begun preof 4250,000 limitation that Counsel of General Opinion scribed by Congress in recent amendment to FR,Ict re, includes 6 /28 both cost of land and erection of building passage of Harris amendment prohibiting erection of any building by FRBanks or branches in excess of )250,000, 5 Al without consent of Congress St. Louis: New building; FRBoard authorizes Bank to proceed with development of working plans and secure competitive 5 /4 bids for construction of, New building, procedure to be followed in letting of contracts and construction of; Latter from Vice Governor Board and of Bank re recent correspondence be 5 /22 Consulting Architect re, San Francisco: New banding; objections by the MBank to making provisions 5/3 for sufficient space in, to be rented as offices Quarters, F. R. Board: Assembly room for use of Board; Governor authorized to make 3/ 3 arrangements and disburse funds necessary for suitable, Rooms 297 and 299 in Treasury Bldg. to be used as assembly room for Board, the Treasury Department agree3/6 ing to make necessary alterations Division of Issue & Redemption: Installing of modified lighting system in, at cost of 3 /22 $270.00, authorized Division of Printing: Installation of wooden shelves in, for storing back numbers 1 /18 of RBulletin, authorized Equipment for, used for filing purposes; memo. of Assistant Secretary suggesting spending of cia,500 for acquiring 3 /24 adequate, Expenditure of 1,1115 for installation of ventilators on windows 5 /22 of Board's offices in Otis Building, authorized Governor authorized to terminate leases at 450 Broad Street, New York City, and National Metropolitan Bank Bldg., Washington, D. C., divisions located therein to be housed 3/3 in Otis Bldg., Washington, D. O. 249 266 261 225 305 326 20 ' 251 22,1 119 151 41 1641 119 Page Narters, F. R. Board: (continued) Installation of additional steel wall cabinet in file room 5 A2 authorized, at cost of 41,125 Matter of equipnent for new assembly room, lnd disposition of table in present assembly room in National Metropolitan Bank Building, referred to Governor with power 3/ 8 Otis Building; installation of call bell system in offices 6 /12 of Board in, Removal of, from National Metropolitan Bank Building, and payment of 4943 for reinstating certain partitions in 4 /21 building Storage room of Board in Treasury Building, installation of steel shelving in, at cost of 4420 1 /4 Telegraph offices of FRBoard and Treasury Department; expenditure of 480.00 authorized to cover cost of rearrangement in, 1/9 Terminating of leases covering quarters in Rapley Building, and lease of space in Otis Building,for certain of Board's divisions, authorized 3/ 2 Questionnaire, Exercise of Fiduciary powers by National Banks: Printing of 2,500 copies of summary of results of, 3/1 248 128 294 202 16 118 116 trait Railway Loan Advisory Committee: Loans: Birmingham & Northwestern Railway Co., form of loan for 3 1 475,000 to, Boston & Maine Railroad; form of loan for 05,000,000 to, 6 / 1 Chesapeake & Ohio Railway Jo., form of loan for 45,338,000 to, in four parts, carrier taking down fourth installment in amount of 41,334,500 5 /23 Chicago, Milwaukee, & St. Paul Railway Co., form of loan for 425,000,000 to, 2 /24 Cisco & Northeastern Railway Co., farm of loan for 2 /24 494,000 to, Cisco & Northeastern Railway Co., form of loan for 031,000 3 /13 to Cisco & Northeastern Railway Co., farm of loan for $111,450 to, in four parts, carrier taking over first part, in 4 /25 amount of $27,863 Cisco & Northeastern Railway Co.; form of loan for 4111,450 to, in four parts, carrier taking over second part in amount of 327,863 6 /za Evansville, Indianapolis & Terre Haute Railway Co., form of loan for 4400,000 to, in eight parts, carrier taking 2 over fifth part, in amount of 050,000 AO 115 273 254 107 107 139 206 325 88 page Railway Loan Advisory Committee: (continued.) Loans: Evansville, Indianapolis & Terre Haute Railway Co., form of loan for 4400,000 to, in eight parts, carrier taking over sixth and. seventh parts of loan in amounts of 3/ 6 450,000 each Evansville, Indianapolis & Terre Haute Railway Co., form of loan for 4400,000 to, in eight parts, carrier taking 5 /22 down 4.50,000 Gainesville & Northwestern Railroad Co., form of loan for 1 /25 475,000 to, Gulf, Mobile & Northern Railroad. Co., form of loan for 2 /27 4916,500 to, Hocking Valley Railway Co., form of loan for 41,665,000 6 /13 to, carrier taking down third and. fourth installments uissouri & North Arkansas Railway Co., form of loan for 4 /21 43,500,000 to, New York, New Haven & Hartford. Railroad Co., form of loan 5 /22 for $2,758,000 to, carrier taking over 42,100,000 New York,. New Haven & Hartford Railroad Co., form of loan for 42,756,000 to, carrier taking over installmsnt of 6 /21 '4'300,000 New York, New Haven, & Hartford. Railroad Co., form of loan for 49,630,000 to, in two parts, carrier taking down second installment of second. part of loan in amount of 5 /23 0500,000 Norfolk Southern Railway Co., form of loan for 41,000,000 3 /29 to, Seaboard Air Line Railway Jo., form of loan for 44,400,000 to, in four parts, carrier taking over first part, in amount of 41,100,000 4 /25 Seaboard Bay Line Company; form of loan for 04,400,000 to, in four tarts, carrier taking down second. installment i4 1,100,000 in amount of ,:i 6/5 Western Maryland Railway Co., form of loan for $1,000,000 to, in six parts, carrier taking davn fourth part in amount of 4200,000 1 /4 Western Maryland Railway Co., form of loan for 41,000,000 to, in six parts, carrier taking over fifth part, in amount of 4100,000 2/ 4 Western Maryland Railway Co., form of loan for 41,000,000 to, in six, parts, carrier taking over sixth part, in amount of 450,000 3/ 1 at Dallas: Agent R. W. F., F. Judge Ramsey, present at meting of Board on April 13th., upon request 4 /13 2/11 56 11a 296 ZOO 241 511 264 161 206 280 4 76 115 167 page Real Estate Loans: No list made by Board of cities, otlier than central reserve_ cities, whose banks are not permitted. to make real estate 6 /20 loans; letter from Governor of MBank of St. Louis re, Records, F. R. Board: Storing of old and. obsolete; statement by Governor Harding 4 /10 of lack of sufficient space for, conznittee on dispoHamlin appointed Platt Messrs. and. 4 /10 sition of useless papers Redemption Funds, Funds deposited by national banks with :011.3anks ard branches 5/8 for credit in; letter from Board to FRBanks re, Rediscounts: F. R. Bank of ban .eranzis3o: 1fe; to 4;; 6/2 Sugepsted reduction in rediscount rate from 4. Teleam from FliAgent Perrin re proposed reduction in 6 /5 rates Rediscounts: 3 1 Status of, between RBanks; report re, Regulations, F. R. Board: Proposed revision of, re bankers, acceptances covering 3 /is donestic transactions; matter discussed Revision of, covering eligibility and procedure in matter of bankers, acceptances representing import and export 3 /20 transactions Letter to KiBanks, designed to accompany Regulation,as 3 /20 anBnded Telegram authorized sent 2RBanks giving text of amended Regulation, in view of intimation having reached 3 /27 press of revision Re ichsbank of Germany: Formal approval by Board to certain arrangements proposed 2/4 to be made by iB.Bank of New 'fork with, Reports of Business Conditions: 1 /30 Criticism of monthly report submitted by certain FRAgent Reports of Condition of FRBanks and State member Banks: Reconunen,dation of Mr Snead that all rediscounts be reported in body of, submitting revised form of statement for use 2 /15 in accordance with recommendation Reports of Condition of National Banks: 1 /3 Call for, by Comptroller, to be made on Jan. 3, 1922 Payment by FRBanks for, furnished by Comptroller of Cur rem:y; letter from RAgent at New York re; matter to be discussed 3/6 at next conference of Governors Reports of Condition of State Member Banks: Call for, to be made upon same date as first call of 2 /15 Comptroller of Currency for 1922 Revision of Form 105 usea in, authorized upon request of 2 /15 Mr.Snead 304 162 182 227 276 279-80 1 148 153 153 165 75 67-8 95 2 123 95 95 LXXX\TIII Reports of Examination of Lien:Jeer Banks: Letter from Comptroller of Currency re directors Of ffiBanks having access to, 2/1 Republic of Peru: . New banking system establisbul by, modeled after FRsystem; letter fremW. W. Cumberland re, 3 /29 Reserve Cities: ' See "Central Reserve & Reserve Cities, Reserve for Government Franchise Tax: publishing of, in weekly bank statement; reply of Beard to letter from FRBank of Boston re, 1/9 Reserve Ratios: Modification of published statements of FRBanks re, 1 /18 Reserves: Application from three banks in alattaneega, Tenn., that that city no longer be classified as a reserve city 6 /27 banks advised hearing will be granted re matter of, 6/29 California; Sdward lliott of Los Angeles to meet with Beard June 14th. to discuss matter of reserve carried icy certain member banks in, against special savings deposits 5 /23 6/8 Discussion between Mr. Elliott and Beard re reserves; committee appointed to investigate and report on matter 6 /14 Discrimination against state bank members in California, as against national banks, in matter of maintaining reserves against spacial savings accounts; letter from president Sartori of Security Trust & Savings Bank of Los Angeles re, 4/26 F. R. Banks: Report re reserve positions of the several, 1/3 i/o 1 /6 1 /9 1 /11 1/13 1/16 1/18 1/20 1/25 1/26 169 15 37 331 '334 2.63 299 210 1 6 10 13 a a9 33 31 44 54 61 1 /27 1/30 63 66 2/ 1 2/ 3 2/4 2/6 69 74 75 79 2/ a 8 I , Page (3ont inued) Reserve s F. R. Banks: Report re reserve positions of the several, 2 /10 2/13 2/15 2/17 2 /20 2/24 2 /27 3/ 1 3/ 3 3/5 3/ 8 3/ 9 3 /10 3 /13 3 /15 3 /17 3/20 3 /22 3/24 3 /27 3 /29 3 /31 4/3 4 /5 4/7 4 /10 4 /12 4 /14 4 /17 4 /19 4/21 4/25 4 /26 4 /28 5/1 5 /3 5 /4 5/8 5 /10 5/12 5/15 5 /17 5/19 5/22 5/23 5/24 5 /25 88 91 94 98 102 107 111 115 119 122 126 130 134 138 143 146 150 156 159 165 167 170 173 175 179 18 186 188 193 197 2)0 205 208 212 215 219 223 226 229 232 235 238 212 247 253 257 261 x0 Fag° Reserves: (continued) F. It. Banks: Report re reserve positions of the several, 5 /29 5 31 611 6/5 6/6 6/7 6/a 6, /12 6/13 6 /14 6/15 6/20 6/2]. 6 /22 6 /27 6/28 6/29 Jefferson Bank, $t. Louis, Yo., authorized to reduce reserve requirements to 7/, on demand, and 3;; on time, deposits 6 /20 Meeting of aertain iRAgents in New York, March 30th., for purpose of considering question of reserve requirements; 3 /29 General Jounsel of FRBoard authorized to attend, Member Banks: Letter from &Agent at Boston re, requesting certain information in order that Reserve Jommittee of FRBanks may make recommendations re reserve requirements of FRAat 3 /21 Missouri National Bank of St. Louis authorized to reduce reserve carried against denumd deposits from 10,; to as outlying bank in reserve aity 6 /27 Northwestern Trust Uo. of St. Louis authorized to reduce reserve requirements on demand deposits from 13,; to 10,; 4 /26 Reduction in, of outlying banks in St. Louis, to 7„; against demand, and 3;,; against reserve, deposits 6 /5 Reserve requirements against special savings deposits; telegram from FRBoard to San Francisco stating opinion re,4 /19 St. Louis reclassified as reserve city, in lieu of central reserve city 5 /31 Savings Trust Jo. of St. Louis authorized to reduce reserve requirements an demand deposits from 14; to loi;L. 4 /26 Southern Jommercial Savings Bank, St. Louis, Mo., authorized 2/ 8 to reduce reserve requirements on demand deposits Trust funds; ruling re reserves against liabilities resulting from receipt ani use of, ordered transmitted all Governors 4 /19 and FRAgents 265 269 21Z 219 284 286 288 291 298 299 301 304 310 314 317 30 331 304 168 160 311 209 200 198 83 191 X0I page Reserves: (continued) University State Bank, Seattle, Washington; reserve requirements of, designated as those of country bank with 3/8 on demand, and 3;; on time, deposits Review of the Month: Request from Secretary of the Treasury that proof sheets of, be transmitted to him each month, before publication in 2 /10 FRBulletin Rhode Island Hospital Trust Jo. Application of, to assune liabilities of providence Jounty Savings Bank of pawtucket, R. I., and maintain branch on 6/1 premises formerly occupied by latter bank Rittenhouse Trust Jo. of Philadelphia: ,Jondition of membership No. 1 imposed upon, at time of 1 /25 admission to membership, waived Robinson, Senator: Reply of Governor Hardin„; to, re alggestion of banker in Arkansas that FRBanks and member banks be allowed to invest 50,; of reserves in proposed soldier bonus 3 A5 certificates Rockey, Kenneth H., National Bank Examiner: Salary approved at'41,333.33 per month vt.ile in Europe 6 /21 examining branches of National Jtty Bank of New York Rug in Assembly Room of F. R. Board: 4 /26 Offer of 4150 for; acceptance of, approved Rulings, F. R. Board: National banks in disconsin exercising fiduciary powers; 1 /25 proposed ruling re capital required of, Wisconsin ';opy of, authorized transmitted to Secretary of 1 /25 Bankers, Association of re, Banking of State Letter to Jommissioner of 1 /25 wisconsin 1 /25 publishing of, in 3ulletin, authorized 127 88 273 57 143 ail 208 57 57 57 57 11511 St. Louis Jlearing House Association: petition from, for declaring St. Louis a reserve city, in1 /16 stead of a central reserve city Matter of, to be brought Up at meeting of Board an 1 /26 Feb. 1st. Matter postponed, owing to unavoidable absence af 1 /27 Mr. LitChell an Feb. 1st. 1 /30 Petition declined by Board St. Louis, 1:o. . Application of certain banks in, fa. designation of St. Louis as reserve, instead of central reserve, city, to be 5 /23 considered may 25th. 5/25 34 62 64 67 256 263 XCII page St. Louis, Mo. Real estate loans by national beaks in; letter from FRBank 6 /20 of St. Louis re, and reply of Governor Harding Reclassified as reserve city, in lieu of central reserve 5 /a city Reduction in reserves of outlying banks in, to 7;!, against d against reserve, deposits ; 6 /5 demand, and 3 Sacramento-San Joaquin Bank, Sacramento, Cal. Letter from RAgent Perrin suggesting requiring of, to sur3 /31 render membership in FRSystem Salaries, F. R. Banks: See under various i. R. Banks and Branches stii Fernando Valley Savings Bank: Increase in capital from $25,000 to 05,000, and establishment 2/6 of commercial department, authorized San Juan State Bank of Blanding,Utah: Application of Monticello State Bank of Monticello, Utah, to 5 /29 absorb, disapproved Savannah Agency, F. R. Balk of Atlanta: Groover, R. N., appointment as Acting manager, at 0,000 2 /17 per annum, during absence of R. J. Taylor Taylor, R. J., Manager, temporary transfer to War Finance 2 /17 corporation in washington Savings Trust Jo., St. Louis, 210. Authorized to reduce reserve requirements an demand deposits 4 /26 from 13,; to l Seaboard Air Line Railway Jo. Form of loan for .:;4,400,000 to, in four parts, carrier 4 /25 taking over first part, in amount of *1.,100,000 Seaboard Bay Line Company: Form of loan for 44,400,000 to, in four parts, carrier taking 6/5 down second installment in amount of „;i1,100,000 Secretary of tle Treasury: Instructions from, requiring FRBanks, as fiscal agents for the Government, to place no further limitation upon payment 3/ 9 of U. S. gold certificates for Treasury account Letter from, to Board, suggesting possibility of RBanks 6 /27 taking over some of loans of War Finance corporation Board's the of of sheets Review Request from, that proof Month be transmitted to him each month, prior to publica2 /10 tion in FRBulletin proposed for bills submisViews of Board requested by, re two sion to congress of Cuba, known as National Reserve Act 2 /13 and Cuban Bank Act; and Board's reply Secretary of War: Memo. of Dr. H. P. Willis to, re banking and currency situation in Philippine Islands; Board considers memo. 1 /6 competent survey of situation 304 z71 260 170 79 268 98 98 208 208 280 131 321-' f 88 93, 13, Page Section 22, F. R. Act: Sub-section (d); request from Assistant FRAgent at Cleveland re powers of FRBoard re, and Board's reply 5 /15 Security National Bank, Faribault, Minn. Authorized to decrease capital stock in amount of 450,000 5 /4 Security National Bank of :iichita Falls, Texas: Authorized to reduce capital stock from .1i400,000 to 4200,000 3/22 Security State Bank of •danamingo, Effective date of one of conditions of membership changed from Jan. 1, to Feb. 15, 1922 1 /25 Security Trust & Savings Bank, Los Angeles, Cal. Authority granted, to acquire two banks in Glendale,Cal., for conversion into one branch, as approved by ILessrs. Ilitchell and i11er 4 /21 Authorized to acquire and convert into branch, the Eagle Rock Bank of Eagle Rock, cal. 5 /15 Authorized to acquire First National Bank of Jouth Pasadena, the South pasadena Savings Bank, and the Highland Park Bank, and convert same into two branches located, respectively, at South pasadena and at Highland Park, Cal. 5 / 1 Authorized to establish additional branch in Los Angeles 4 /25 Authorized to establish three additional brmalhes in Los Angeles 4 /25 Complaint from president Sartori of, re discrimination against state bank members in Califarnia, as against national bank, in matter of maintaining reserves against special savings accounts 4 /26 Senate Bill 620: Views of Board requested by Senator Shortridge re, making drafts drawn against security of farm loan bonds eligble for acceptance by member banks, and for discount and purchase by FRB:-Inks 3 /22 Reply by Board disapproving, authorized 3 /22 Senate Bill 2263 (Harris Amendment): passage of, prohibiting erection of any building by FRBanks or branches in excess of 4250,000, without consent of congress 5 /24 Letter from Governor Harding to Secretary of the Treasury indicating legal and practical objections to last paragraph of above bill which is now before the President 5 /25 Senate Bill 2436: To amend Section 25(a) of FRAct; letter from Board to Senator Newberry giving views re, 2 /27 Senate Bill 2553: Letter from Governor Harding to chairman of Senate Committee on Banking & currency re, 5 /29 235 223 157 56 260 235 218 205 206 210 157 157 258 262 112 267 XGIV rag° Senate Bill 2915: Discussion of senator Owen with Board re provisions of,for establishing machinery for furnishing dollar currency to 1 /30 countries of Europe Senate Bill 3051: 1 /26 Views of Board re, transmitted Senator flcLean Senate Bill 3255: Designed to grant perpetual charters to national banks; Board's opinion requested re, by Senate Committee an 3 /15 Barking & jurrency 3 /15 Reply authorized Views of Board re, set farth in letter to Ohairman of 3 /20 Senate Jommittee on Banking & Jurrency Senate Bill 3531: Board approves principles contained in, whereby non-member banks may be admitted to FRSystem, under certain conditions, with less capital than is required of national banks 5 /4 located in same community Jurrenay: & Banking Senate Jommittee on Letter from Board to Chairman of, transmitting views re 1 /26 Senate Bill 3051 (II. R. 10058) to of, anendments certain re Jhairman to of Board Reply 1 /11 FRAct offered in Senate by Senator Harris Senate Resolution: Reply to, authorized, calling upon Board for information re alleged expenditures for newspaper publicity, and re 6/8 expenditures for publishing ERBulletin Shawmut Jorporatian: purchase of additional shares of sto.ik in, by National 1 /16 Shawmut Bank of Batton, authorized shipments of:heat Stopped in Transit: Freight rates on; request from :Kansas Jity that Baird cooperate in securing favorable Jonsideratian of, by 1 /20 Interstate Jomwerce Jommission shortridge, (Senator) Sanuel M., Jalifornia: Views of Board requested by, re Senate Bill 620, making drafts drawn against security of farm loan bonds eligible for acceptance by member banks, and for discount and 3 /22 purchase by FRBanks 3 /22 Reply by Board disapproving, authorized Slater Trust Jo., of Pawtucket, R. I. Industrial Trust Jo. of Providence, R. I., authorized to take over and liquidate, with view to consolidating same 5 /19 with their Pawtucket branch Letter from FRAgent at Boston enclosing letter from 5 /22 Industrial Trust Jo. re above Snead, E. L., Jhief, Div. of Reports & Statistics: Board authorizes attendance at conference of F. R. Jommittee 4 /19 on Economy & Efficiency in Jhicago, April 24th. 65 62 143 143 152 224 62 23 289 33 46 151 51 246 n 191 XCV page Smead, E. L., Jhief, Division of Reports & Statistics: Salary increased 1 Al Smoot, Reed, Senator from Utah: Letter to, from Board, re alleged political activity of Henry D. Moyle, Jounsel for Salt Lake City Branch 4 /10 Soldier Bonus Jertificates: Letter from Governor Harding to Senator Robinson of Arkansas re suggestion of banker in Arkansas that ERBanks and member banks be allowed to invest 50;; of resemes in proposed, 3 /15 Southern Commercial Savings Bank, St. Louis, Mo. Authorized to reduce reserve requirements on demand deposits 2/ 8 Southern michigan National Bank of Coldwater, Michigan: Authorized to reduce capital stock in sum of 4650000 6 / 4 8 Spencer, Jelden P., senator from Missouri: Letter from, urging necessity for beginning work upon proposed new building for 'RBank of St. Louis 3 /20 Sprague, 0. M. W., of Harvard University: To be reimbursed by ERBoard for expenses in connection with trip from Boston to New York for conference with MreMiller re matter of new director for Div. of Analysis & Research 6 /28 Staff of F. R. Board: Assistant Secretary: Eddy, waiter L., salary increased 1 /11 Assistant Secretary's Office: McCormick, (Miss) E. J., resignation 6/5 Stenographer; appointment of, authorized, to fill vacancy occasioned by resignation of Miss McCormick 6 /5 Associate statistician: Goldenweiser, E. A., salary increased 1 /11 Chief Clerk: 1 /20 De La :„iater, John, salary increased Chief Jlerk's Office: 5 /10 Employee; engaging of new, authorized Gladding, Juliette W., appointment and salary as 2 /24 stenographer 2 /is Harris, W. T., appointment and salary Consulting Economist: Designation of Dr. H. P. Willis as, in charge of p. 3 /20 Bulletin, effective July 1, 1922 Counsel's Office: 6 /5 Cox, W. F., Law Clerk, resignation Salaries; recommendation for increases in, of certain 6 /29 persons in office, disapproved 6 /27 Wilmarth, (Mrs.) Josephine H., appointment and salary Division of Analysis & Research: 4 /19 Bacon, Dorothy J., appointment and salary Carson, d. J., appointffent and salary for six months 6 /20 period as Junior Research Assistant 26 184 143 82 288 153 327 26 282 282 26 49 230 109 92 152 282 332 322 198 308 XCVI Page Staff of F. R. Board: (continued) Division of Analysis & Researah: Chapman, J. H., granted leave of absence, without pay, 1 /25 for six months months six for salary and nt appointme Crick, d. F., 6 /20 period as Junior Research Assistant /29 5 , affecting plans in changes :;., Edwards, Dr. George of work complete to necessary all existing, Employees; Division up to July 1st., 1922, to be retained until such date, in addition to now employees necessary an 3 /20 account of removal of Division to das'hington 1/9 salary and nt Falk, Dorothy, appointme 2/4 on resignati L., Falk, Dorothy 2 /4 salary and nt appointme Gall, Leon, 1 /25 on resignati Gillette, Ruth, 2/4 salary and nt appointme Isabel, Ireland, 2 /4 salary and nt appointme Marcus, Nadler, reto ry preparato division of staff of ation Reorganiz 4 /10 moval to Washington; letter from Dr. Willis re, 1 /25 salary and nt appointme Ralph, Robey, /26 6 in, increase ; employees certain of Salaries 3 / 1 for, ations recommend in; ts adjustmen Salary 9 / 1 Approved 1 /9 Simonson, Estelle, resignation 1 /25 salary and nt appointme Smith, Jessie, change to requested authority , Katherine , Snodgrass employment of, from full to half time, with decrease 5 /12 in compensation; referred half on working salary, in change , Katherine , Snodgrass 5 /17 time basis 4 /19 Starr, (Mrs.) Helen J. P., appointment and salary Steiner, W. H., designated Acting chief of Division, 3 /20 effective July 1, 1942 increase Steiner, W. H.; recommendation of Dr. Willis for 6 /29 in salary of, as Acting Director of Division 6/1 of t time employmen Takegawa, J. T., extension of /10 5 salary and Thomas, Woodlief, appointment 5/29 Van Pelt, Henry W., appoillVent as Acting Assistant Chief 5 /1 of Division, with increase in salary /19 4 and nt salary Warren, Robert B., appointme of as continue Director Willis, Dr. H. Parker, to 3 /20 Division until July 1, 1922 Division of Bank Operations: Marcier, (Miss) D. K., granted leave without pay from 6 /12 July 17th. to August 19th., inclusive changed s Name of Board's Division of Reports and Jtatistic 5 /12 to, 58 308 257 153 19 75 76 59 76 76 183 59 g,6 1 19 19 59 24019s 183 384 20 0 281 198 352 z93 1COVII Page (continued) Staff of F. R. Board: Division of Issue & Redemption: Augusterfer, Lillian F., given indefinite furlough with4 /19 out pay 1 /25 resignation Bebeau, Ruth M,, clerk-counter, 6 /15 resignation boy, Connell, Bernard, messenger /19 4 pay without furlough given indefinite Crafford, Ada F., /19 4 pay without furlough indefinite Devine, Eva M., given Emerson, Madeline O., given indefinite furlough without 4 /19 pay /19 4 pay without furlough Randy, Bertha E., given indefinite without furlough Mulvihill, Mary J., given indefinite 4 /19 pay as messenger salary and appointment Williams, H. 0., Jr., 6 /21 boy Statistics: Division of Reports & Barrett, A. G., appointment and salary as statistical 2/ 8 clerk upon pay, leave without days 19 granted K., J. Bizzell, 4 /21 request owing to with, dispensed two, of services Employees, 4 /19 decline in work in increase Statistician, Associate A., E. Goldenweiser, 1 /9 salary recommended 1 /9 re, Committee of Report 1 /11 Salary increase approved 1 /11 laclanden, Pauline, resignation as salary and employment permanent S., L. Myrick, 3 /29 Technical Clerk Name of, changed to "Division of Bank Operations" 1/3 Salaries; recommendations re adjustments in; referred Snead, E. L., Chief of Division, authorized to attend conference of Federal Reserve Committee on Economy and 4 /19 Efficiency in Chicago, April 24th. 1 /11 Smead, E. L., Chief of Division, salary increased Van Fossen, J. R., made Assistant Chief of Division and 1 /9 salary increased Federal Reserve Note Clerk: 2/ 1 Hendricks, M. J., Assistant to, resignation Gold Settlement Division: Employment of temporary typist for evening work to serve 5 /25 during vacation period 6 /5 Lanham, Charles W., appointment as part time employee /12 5 O'Neil, Walter F., appointment and salary Ringwald, John W., part time employee of Gold Settlement 615 Division, resignation 5 /12 Shaw, Gertrude O., resignation 2 /13 'Stone, H. B., transfer of, to Gold Settlement Division Vacation of one week with pay granted seven typists doing 5 /25 evening work in Division 199 59 301 199 199 199 199 199 310 85 202 197 14 21 26 27 167 2 197 26 20 72 263 282 232 282 232 92 263 page Staff of F. R. Board: (continued) Gold Settlement Division: (continued) Winkler, F., transfer of, to examining staff at increase 5 /10 in salary Governor's Office: M., salary increased in accordance with McClelland, schedule of adjustments for secretaries 1 /11 Librarian: 6 /20 McCombs, Nelson W., resignation as Librarian Rackstraw, (Miss) Elsie, appointment and salary as Librarian 6 20 Messengers: Employment of additional, in Otis Building, authorized 6 /20 Employment of new messenger at 41080 per annum,authorized 5 /10 Mr. Mitchell's Office: Leonard, R. F., Secretary; return of, from State Department, and name again placed upon payroll of FRBoard 1 /ao Office: Platt's Mr. Durland, Joseph L., salary increased 6 /15 Office of Comptroller of the Currency: Giovanetti, Henry G., appointment and salary as Stenographer' 1 /4 1 /4 resignation Irene B., (Mrs.) Polk, Office of Statistician: See."Statisticiants Office" Organization chart; preparation of, authorized, Showing plan under which officers and employees of Board are now 5 /is operating 5 /24 Chart prepared and submitted to Board Salaries: Adjustments in, of employees; memo. of Board's sub-committee on staff making recommendations re, 1/5 Approved 1 /9 Statistician's Office: 6/5 Barrett, A. G., resignation 3 /31 Cheney, (Miss) Edith, salary increased Sutton, (Mrs.) Blanche L., appointment as Translator and Technical clerk 6 /20 Sub-Committee on Staff and Salaries: Recommendations by, covering adjustments in compensation paid. employees 1/5 Approved 1/9 Telephone Operator: Burke, Catherine, employment and salary 3 /31 Gross, Catherine E., resignation a /3). State Department: Oorrespondenae between, and Division of Analysis &Research, re expenditure for certain work done for FRBoard through 1/5 Consulate in London 230 26 308 308 309 230 68 30a 5 5 236 259 7 20 20 170 309 171 6 XCIX Page State Member Banks: Branches of; specific information requested by FRAgent Perrin of San Francisco re, in view of Governor Harding's 5/8 letter of April 28th., 1922 Establishment of trust departments and exercise of fiduciary powers by; Board's reply to inquiry from 1 /11 San Francisco whether same require its approval Reduction in capital stock by; circular letter from Board to 3 /27 all FRBanks re, amending general condition No. 4 Statistician, F. R. Board: Recommendation for attendance by, at forthcoming conference 6 /21 of Government librarians in Washington Sterling Drafts: Acceptance of, by American national banks; proposed letter 6 /22 to RBank of Boston re, Stock: Application of Farmers & Commercial Savings Bank of Clayton, Mo., to surrender stock in &Bank of St. Louis to extent proportionate to recent reduction in capital; opinion of Counsel re, and letter from Board to FRAgent at St.Louis 3 / 8 Capital: American National Bank of Three Forks, Montana; reduction 3/ 9 in capital stock of, In sum of 415,000 Conway National Bank, Conway, Mass., authorizel to reduce 2 /10 its capital stock from 450,000 to 425,000 Farmers & Commercial Savings Bank of Clayton, Mo.; ap2 /15 plication of, to reduce capital stock Farmers National Bgnic of Hollis, Oklahoma; required payment made by, on account of subscription to capital 6 /22 stock of RBank of Kansas city First National Bank of Billings, Oklahoma, authorized to 6/1 reduce capital stock from 440,000 to $25,000 First National Bank of Bishop, Cal., authorized to reduce 6 /20 Capital stock from 4100,000 to 450,000 First National Bank of Burkburnett, Texas; MOM°. from Deputy Comptroller of Currency re application of, for 6 /20 reduction in capital stock First National Bank of Calipatria, Cal., authorized to 1 /16 reduce, from $100,000 to 450,000 from memo. Michigan; First National Bank of Chesaning, Deputy Comptroller of Currency re application of, for 6 /20 reduction in capital stock to Wyoming; application First National Bank of Cody, 1 /6 reduce its capital stock, disapproved First National Bank of Halfway, Oregon, authorized to reduce, from 450,000 to 425,000, upon certain 6 /12 conditions 227 23 165 312 315 127 131 89 96 316 272 306 306 33 306 11 292 page Stock: (continued) Capital: First National Bank of Lanesa, Texas, authorized to reduce, from $50,000 to 430,000, subject to certain conditions 2 /27 First National Bank of Nonte vista, Colorado, authorized 4/3 to reduce capital from 4100,000 to $50,000 First National Bank of Otis, Colorado, authorized to 1 /18 reduce its capital stock from $40,000 to $25,000 Lincoln County National Bank of Stanford, Ky., granted authority to reduce capital stook from 4100,000 to 5 /15 $50,000 Live Stock Exchange National Bank of Chicago authorized to 6 /28 reduce, from $1,250,000 to $1,000,000 peoples National Bank of Hot Springs, South Dakota; memo. from Deputy Comptroller of the Currency re application 6 /20 of, for reduction in capital stock to letter circular Reduction in, by State member banks; 3 /27 all RBanks re, amending general condition No. 4 authorized Texas, Falls, Security National Baak of Wichita 3 /22 to reduce capital stock from $400,000 to $200,000 Michigan, CoUwater, of Southern Michigan National Bank 6/8 authorized to reduce capital stock in sum of $65,000 shares additional purchase to Evart State Bank authorized 6 /21 of stock in FRBank of Chicago appliMo.; of 'Clayton, Bank Farmers and Commercial Savings 2/ 8 cation of, for surrender of stock Mo. granted Clayton, of Bank Farmers & Commercial Savings permission to surrender 23 shares of, in RBank of St.Louis, representing difference between former capital and present 5/3 capital Purchase by National Shawmut Bank of Boston of additional 1 /16 shares of, in Shawmut Corporation, authorized to Minn., authorized Faribault, of Bank National Security 5 /4 decrease capital stock in amount of $50,000 Storage Space, F. R. Board: Storage of obsolete records of FRBoard in sub-basement of 6 /20 Auditor's building, authorized Strong, Benjamin, Governor, F. R. Bank of New York: Suggestion of, that FRBanks decline reimbursement by the 6 /27 Government for fiscal agency operations Superior Liquidating Commission in Havana, Cuba: Clarence Marine nominated as member of, in place of Oscar 1 /20 Wells, upon request of General Crowder Supplies, F. L. Board: 3 /15 Typewriters; purchase of six new, authorized Banks: R. F. Accounts, Super-Surplus & Surplus Letter from Gov. Strong to Board re treatment of, on books 6 /27 of the illBanks 6 /28 of cosel Counsel opinion and on, Committee Report of Law Board,and in by concurred Counsel Opinion of General 6 /28 &Banks to be advised of substance of same 174 43 236 330 306 165 161 288 310 82 220 33 225 308 323. 46 3g° 321 339 page Surplus & super-surplus Accounts, F. R. 3101: (continued) Proper method of setting up "super-surplus" account, and methods deemed proper by RBank of New York for amortization of building and fixed machinery; letter from 6 /29 Governor Strong re, and Board's reply Surplus Fund, F. R. Banks: Opinion of General Counsel re, holding properly liable for 5 /1 unearned dividends, concurred in by Attorney General Sutherland, Ex-Senator, of firm of Counsel for Bank of Italy: Copy of Board's reply to communications from RAgent Perrin re policy and procedure of Bank of Italy in matter of 2/ 1 acquiring branches forwarded to, Discussion by, with RBoard, re matter of establishment by 1 /11 Bank of Italy of additional branches Swiss National Bank: 4 /28 Appointed agent of FRBank of New Yank In Switzerland Telegraph Office, F. R. Board: Buckley, Thomas, employment as messenger boy at 4720 per 5 /25 annum, in place of Phillip Curley, resigned Treasury & Department: Telegraph Offices of F. R. Board Expenditure of 480.00 to cover cost of rearrangement in 1/9 quarters occupied by, authorized Telegraph Operators: ,Leased wire System" See ' Ten Eyck, 0. W. Reduction in portion of salary paid to, by FRBoard, from 1 /11 44,000 to 42,500 per annum, suggested by Mr. Trowbridge Textile Trust Co., of New Bedford: Absorption of, by New Bedford Safe Deposit & Trust Co., of 3 /20 New Bedford, Lass. Thompson, Brooks, of Fort Worth, Texas: Letter and affidavit from, re suit brought against him by 511 FRBank of Dallas, asking dismissal of same Reply of Board to Mr. Thompson, stating matter should be 5 /3 taken up with RBank of Dallas Time Schedules: Controversy re transit, between RBanks of Boston, New 'York & philadelphia; Boston and New York not to make any 6/2 changes, but Philadelphia to change schedule representatives between conference transit; strict Inter-di of FRBanks of Boston, New York & Philadelphia with FRBoard 6/2 to discuss, 335 216 71 25 213 262 16 23 151 217 221 275 275 page Treasury Certificates: Letter from Under Secretary of the Treasury re suggestion 5 /31 recently made by him to FRBanks re investments in, Treasury Circular No. 176: Final proof of, submitted to Board by Under Secretary of 5 /17 the Treasury Governor requested to reply 5 /22 Treasury Currency Committee: ' See "Currency Committee of Treasury Department, Treasury Department Circular No. 176: Final proof of, submitted by Under Secretary of the Treasury, presenting regulations covering deposits of public money and payments of Government warrants and checks 5 /17 Treasury Notes: Authority granted MBank of Boston to accept four year,from dealers upon fifteen day advances, with agTeement to re— purchase 4/3 Proposed subscription by Dallas far approximately ,1,000,000 1 /27 of pending issue of; Board disapproves Purchase of, by FRBank of Boston, in anount of $1,000,000, as investment; Board advises Boston it will not look 1/9 with favor upon further purchase of three year notes Trowbridge, Alexander B., Consulting Architect: See "Consulting Architect" Trust Funds: Ruling re reserves against liabilities resulting from receipt and use of, ordered transmitted all Governors 4 /19 and FRAgents Typewriters, F. R. Board: 3 /15 Purchase of six new, authorized 270 238 250 239 173'4 83 16 197 .143 "Tit Under Secretary of the Treasury: Letter from, asking Board for mvised estimate of amount of franchise tax FRBanks will pay during year ending June 30, 6 /28 1923; FRBoard estimates at 410,000,000 Letter from, calling attention to recent increased purchases in holdings of Government securities by FRImil<ci 4 /14 Letter from, enclosing correspondence with RBank of New York 2 /15 re paying out of gold coin in denomination of 42.50 Letter from, re appropriateness of legislation with view to retiring circulation of national banks 3/ 6 Letter from, re Board's statement of March 2nd., an condition of FRBankR, requesting statement showing in detail holdings of Government securities by FRBanks 3/8 329 190 94 10 136 JIII page Under Secretary of the Treasury: Letter from, re FRBank of New York carrying for dealers, on repurchase agreements, U. S. Treasury notes, suggesting extending of policy to include Victory notes, and adoption 2/1 of same by all FRBanks Letter from, re retirement of national bank notes from 3 /20 circulation, Letter from, re suggestion recently made by him to FRBaaks 5 /31 re investments In Treasury certificates Letter from, suggesting Board issue ruling re purchase or sale of Government securities by ERBanks in other districts 3 /22 than their own Reply of Board to letter from, re supply of gold certificates proposed to be furnished by Treasury Department to RBanks 3/24 Unfit Currency: Shipment of, by Cuba to Jacksonville Branch; replacements being 5 /17 made to Cuban Government by branch, less charges Union Trust Co., providence, R. I. 4/3 Modification of one of conditions of membership United States Treasury Notes and Victory Notes: Authority extended to FRBanks to carry, for dealers on repurchase agreements, upon request of Under Secretary of 2/ 1 Treasury University State Bank, Seattle, Washington: Reserve requirements designated as those of country bank, 3/8 f on time, deposits with 7;; on demand, and 3; Useless papers, F. R. Board: 5 /29 Disposition of; report of committee re, Valley Bank of Fresno, California: Authority granted, to purchase Selma National Bank and Farmers ' Savings Bank, both of Selma, California, and as 1 /25 branch at latter place Arizona: Phoenix, Valley Bank of Authorized to acquire Gila Valley Bank & Trust Co. of Globe, 5 /19 Arizona, and operate offices of latter as branches Van zandt, R. L. Conference of, with FRBoard, re administration of the RBank of Dallas, and failure of National Bank of Cleburne, 4 /25 Texas Request made of,to come to Washington to discuss certain 4 /14 matters recently discussed with Judge Ramsey of Dallas Vault Tests: Bill for 4196.60 submitted by Consulting Architect in connection with securing letters patent for processes de2 /13 veloped as result of recent, 69 153 270 157 161 239 174 69 127 267 56 245 207 190 92 3IV page Vault Tests: (continued) Oomplatnts from manufacturers of bank vaults that replies of Mr. Trowbridge to inquiries from member banks re 3 /13 results of recent, jeopardize their business Tronbridge to be required to submit Board report setting forth details and results of all tests made under his 1 /13 direction vault re Architect Trowbridge Consulting by submitted Report 6 /15 tests conducted at Washington and Sandy Hook 137 30 302 Watt gaohovia Bank & Trust Jo., Winston-Salem,_N. J. 1 /27 permission granted, to establish branch at Raleigh, N. C. War Finance Corporation: Applications to, for loans, originating in Kentucky; Board 1 /30 approves concentrating, at Louisville Branch possibility of FRBanks taking over sone of loans of; letter 6 /27 from Secretary of Treasury sugesting, Taylor, R. J., Llanager of Savannah Agency, temporary transfer 2 /17 of, to War Finance Corporation Warburg, Paul M. Letter from, suggesting adoption of lower rate for trade acceptances than current rate for commercial paper; referred to forthcoming conferences of Federal Advisory 3 /29 Council and Governors of FRBanks Warehouse Receipts: question of law involving, under Secticre 5200 of Revised Statutes, issued by owner of goods covered; memo. of 1 /25 Assistant Counsel Freeman re, Weekly Reports from Clearing Houses: Letter from Board to FRAgents requesting securing of, in each district, re total debits to individual accounts made 1 /3 during the week by the clearing houses Weekly Statement of Condition of F. R. Banks: 3 /13 Revised form of introductory statement to be used in, 3 /29 Revised form of, approved gells Fargo Nevada National Bank of San Francisco: Application of, to accept for purpose of araating dollar 2 /27 exchange in Dutch East Indies Western maryland Railway Co. Form of loan for 41,000,000 to, in six parts, carrier taking 2/4 over fifth part in amount of 4100,000 Form of loan for 41,000,000 to, in six parts, carrier taking 3/1 over sixth part, in amount of 450,000 63 67 341-2 96 168 57 76 116 uv Page Willis, Dr. H. Parker: Authorized to announce, in April F. R. Bulletin, his resignation as Director of Division of Analysis & Research, 3 /22 and transfer of the division to dashington Street, Broad an office #50 maintain at to Authorized 3 /22 New York City, until July 1, 1922 Economist of Consulting as B. F. salary and Designation 3 /20 Board in charge of FRBulletin, effective July 1, 1922 and currency banking re War, of to of, Secretary Memorandum situation In Philippine Islands; Board considers memoran1 /6 dum competent survey of situation Analysis of Division of Director as tendered by, Resignation & Research, and plans subadtted for rearrangement of 3/ 8 organization of division upon removal to aashington Salary as Consulting Economist of RBoard fixed at 4500 per month until selection by Board of new Director of Division 6 /27 of Analysis & Research Wilson, alarles F., National Bank Examiner: Salary approved at 41,000 par month while in Europe examining 6 /21 branches of National City Bank of New York Wisconsin: Applications of banks in, to exercise fiduciary powers; letter from Board to Banking Commissioner of Wisconsin re,1 /13 National banks in, exercising fiduciary powers; proposed ruling of Board re capital required of, to be published 1 /25 in Bulletin Letter to Commissioner of Banking of State of Wisconsin 1/25 re Letter to Secretary of Wisconsin Bankers' Association 1 /25 transmitting copy of proposed ruling Wisconsin Bankers' Association: Letter from Board to Secretary of, transmitting copy of proposed raling re capital required of national banks in Wisconsin applying far permits to exercise fiduciary 1 /25 powers 156 152 152 11 128 322 311 31 57 57 57 57
@FedFRASER