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INDEX July - December I 9 20 Page Accept up to 100,, power to, granted Baltimore Commercial Bank, Baltimore, Maryland Central National Bank, Albany, Alabama 9/1 9 /15 9 /17 10/26 7 /13 7 /13 8 /26 9 /1 8/3 7 /20 10/21 7 /27 9 /9 10/14 11/ 9 10/26 8 /26 Citizens Commercial Trust Co., Buffalo, New York Citizens National Bank, Baltimore, Maryland Commercial National Bank, Sherman, Texas Dallas National Bank, Dallas, Texas First National Bank, Chattanooga, Tenn. First National Bank, New Haven, Conn. Lincoln Trust Co., New York City Manufacturers & Traders National Bank, Buffalo, N. Y. Maryland Trust Co., Baltimore, Maryland Merchants National Bank, Los Angeles, California National Bank of Commerce, Detroit, Michigan Security National Bank, Oklahoma City, Oklahoma The First National Bank, Greensburg, Pa. The First National Bank, Los Angeles, California Acceptance Credit; Arizona American-Egyptian Cotton; eligibility for rediscount by AHBanks of acceptances drawn under; inquiry 9 /14 from Ohicago.re, 9 /14 Reply of Governor of, ity eligibil re Chicago Views of Board requested by in light of further explanation, and reply by Gov. 9 /17 Board's suggested form of indemnity agreement for; letter 11/18 from FRBank of Chicago re, Fletcher from letter les; Covering transactions in automobi 11/15 American Co. of Indianapolis of members banks Eligibility of drafts drawn against Syndicate for granting, to finance export of commodities actually under contract; ruling re, requested by 9/7 Hibernia Bank & Trust Co. of New Orleans 9/7 le Reply of Governor, disapproving as ineligib 9/9 Revised draft of reply by Counsel Bank Revised plan; letter covering, from Hibernia 9 /17 and Trust Co. 738 768 772 875 619 619 721 738 666 638 865 650 759 843 911 875 721 766 766 776 937 925 751 751 760 774-5 II Page Acceptance Credit: (continued) Necessity for revising terms of export acceptance credit contracts, especially packers contracts; attention called to, by Deputy Gov. Harrison of New York Proposed, covering transactions in sugar, drafts to be drawn by Banco American° Mercantil de Cuba; telegram from Messrs. Jtrauss & Brown of New York re, Reply of Gov. Van Zandt to National Bank of Oomnerce at Houston re Board's indemnity agreement for, Acceptance Procedure and Practice: Manuscript submitted by Park Mathewson re; report by Mr. Wills on, Acceptances: Agricultural implement paper, eligibility of; ruling of Counsel re, Agricultural implement paper; further amplification of Board's circular letter X-2071 re eligibility of, requested by Dallas Arizona American—Egyptian cotton acceptance credit; eligibility for rediscount by ERBanks of acceptances drawn under; inquiry from Chicago re, Reply of Governor Views of Board requested by Chicago re eligibility of, in light of further explanation, and reply by Governor Bankers': Broadening of market for; letter from FRAgent Jay advocating letter from Board to FRBanks requesting use of their efforts in, Letter to FRBanks re above, authorized Drawn by those engaged in foreign and domestic business; letter to Governors and Chairmen of FRBanks re, and re form of contract or acceptance agreement in connection therewith, Eligibility of certain, should finished automobile tires be substituted for raw rubber during life of bill; inquiry from Liberty National Bank of New York; referred to Counsel Reply of Board, declaring ineligible Handling of certain, by Guaranty Trust Co. of New York; Mr. 'ails to make inquiries re, during contemplated visit to FRBank of New York Favorable report by 71r. Wills re above Propriety of certain, covering domestic shipments of cottonseed oil; letter from Deputy Governor at Cleveland re, Memo. of Mr. Wills re, with circular letter to kiiBanks embodying Board's ruling on subject 10/26 878 11/12 922 11/18 937 10/ 5 814 11/24 955 12/ 7 981 9 /14 9 /14 766 766 9 /17 776 11/ 9 11/ 9 913 913 10/29 888 • 11/30 12/ 1 964 967-8 M0 7 99 767 11/ 9 913 11/22 947 III Page Acceptances: (continued) Board's policy re acceptance by menther bank of drafts issued against unsold cotton in. warehouses, requested by President Fishburn of Merchants National Bank, Los Angeles, Cal. Drafts originating in Sweden, eligibility for acceptance by member bank of; ruling re, requested by 10/21 11/ 9 Mr. Kenzel Opinion of Counsel re above; letter to Mr. Kenzel 11/ 9 containing, :Uigibility for discount by RBanks of acceptances for 7/2 building material; letter from M. Morgenthau, Jr. 7/2 Reply of Governor wool; of foreign importation Eligibility of, based upon request from National Wool Growers Association that 11/22. Board rule against, of importation against Eligibility of certain, drawn sugar from Cuba; inquiry from Vice President Neilson 7 /21 of Mercantile Bank of the Americas 8 Harding /3 Draft of reply by Governor 8 /4 Revised draft of Governor's letter, approved Eligibility of drafts drawn by cotton grower and accepted by cotton factor selling cotton for grower, proceeds to be used for agricultural purposes; Board's reply to 8 /26 Richmond re, transmotor to loans Eligibility of paper representing portation company; views of Board re, in letter to 12/ 7 Gov. Morss of Boston per-. granted Association First Federal Foreign Banking mission to accept for purpose of creating dollar 2 /29 exchange in South and Central America and Cuba Omaha of refusal Wyoming; Remains, First National Bank, branch to rediscount for, domestic acceptances secured 7/ 7 by bills of lading covering wool in transit permission granted City, York New Bank, Harriman National to accept for purpose of creating dollar exchange in 8 /18 Argentina and Brazil of in Regulations restriction certain of on Interpretati FRBoard re acceptances of state institutions doing foreign business in mhich national banks are permit7 /27 ted to invest; inquiry from Deputy Gov. Harrison 7 /27 Reply of Gov. Harding Interpretation of Section 13 of FRAct in re limit to accepting drafts by member bank from any one customer without special security; letter from Deputy Gov. 7 /27 Harrison 7 /27 Reply of Governor Harding Javasche Bank, Batavia, Java; cable to ERBank of New York re investment of 0,000,000 in rediscountable 12/ 7 acceptances, and &Bank's reply 867 912 913 591 591 946 643 665 671-2 723 982 796 605 698 654 654 654 654 980 IV Acceptances: (continued) Lincoln Trust Co. of New York granted permission to accept for purpose of creating dollar exchange in Argentina, Peru, and Chile 7 /27 Manuscript re "Acceptance Procedure and Practice" submitted by Park Mathewson; report of Mr. Wills on, 10/ 5 Propriety of member banks purchasing and endorsing for Immediate resale, acceptances in open market; views of Deputy Gov. Harrison of New York re, 9 /1 Red River Valley Trust Co. of Paris, Texas; letter from Deputy Gov. Talley of Dallas re acceptances it purposes to make, pursuant to provisions of recent Act of Texas Legislature 7 /29 Reply of Governor Harding 7 /29 Right of member bank to accept drafts drawn payable in foreign countries and currencies, and if eligible for rediscount and purchase by RBanks; letter from Treasurer of P. N. Gray & Co. re, 10/ 5 Draft of reply and memo. of Counsel 10/ 5 Matter referred to Governor for reply 10/ 6 Security Sales Co. of New Orleans, La., application for purchase by RBanks of acceptances of, 10/19 Staple Cotton Cooperative Association, Greenwood, Miss.; letter re eligibility for rediscount by ERBanks of certain acceptances for cotton gravers 8 /18 Opinion of Counsel and reply of Governor 8 /18 Trade: Eligibility for rediscount or purchase by FRBanks of certain; letter from Aaron Sapiro re, and draft of reply by Counsel; referred 10/ 6 Amended draft of letter by Counsel submitted by Mr. Hamlin with favorable recommendation; entire correspondence referred to special committee 10/12 Report of committee submitted and adopted, and inquiry referred to Governor for reply 10/15 Acting Secretary of Navy Coontz: Letter, enclosing memo. from Governor of Virgin Islands re extending date of abrogation of existing moratorium in Islands 7/8 Advisory Council: See "Federal Advisory Council" Agencies: Sanford Trust Co., Sanford, Maine, granted permission to establish agency at Waterboro, Maine 10/26 Agricultural Credit Situation: Letter re, from Secretary of Treasury to Mr. Gray Silver representing National Grange 9 /29 Page 650 814 737 659 659 813 813 820 857 699 699 817-18 836 847 613 874 801 V Agricultural Implement Paper: 11/24 Eligibility of; ruling of Counsel re, of cation amplifi further Request from Dallas for 12/ 7 Board's circular letter X-2071 re, Agricultural Paper: Discount of; telegram signed by various senators and representatives of Georgia re misunderstanding as to 10/20 Board's recent statement re, upon; limit ng extendi re FRAct Proposed bill to amend draft of letter to Senator licLean expressing Board's 12/14 disapproval of, Aldrich Act: Abstract of, prepared by 1.1x. Hamlin, containing comparative clauses in, and in RAct; request for, 9/1 from Professor Jacob H. Hollander ' Anerican Bankers Association: Suggestion from Deputy Gov. Williams of Cleveland for securing from, statement endorsing policies, etc., 10/12 of ERSystem American Cotton Association: Board's policy requested by, re extension of credit to enable producers of cotton to hold crops for price 8 /26 above cost /26 8 Reply of Governor Harding Letter from President of, re financing of cotton crop, 7 /21 and reply of Governor American Credit Situation in Orient: Letter from Chairman of United States Shipping Board re, 8 /24 American Economic Association: Statistician and Assistant Statistician authorized to attend meeting of, at Atlantic City, Dec. 27th. to 12/ 9 29th. American Foreign Banking Corporation: Acceptances proposed by, for financing Cuban sugar crop for export to U. S.; letter from Board re ruling as 7/1 to ineligibility of, City New of York Bank Permission granted Chase National 7/8 to invest additional sum in capital stock of, letter States; United Shipments of gold from China to ro acceptance of drafts drawn against, or re advances against, by FRBank of New York upon guaranteed delivery 10/ 5 by corporation American Institute of Banking: Entertainment fund for convention of; Board disapproves 12/21 FRBank of Minneapolis contributing toward, tuition for nd Clevela of Expenditure of 42,500 by MBank 10/ 5 of employees in courses of, approved 955 981 862 1005 736 837 718 718 643 708 990 586 610 809 1033 813 VI American Minister at Stockholm, Sweden: Paraphrase of cablegram from, re receipt of Shipment of Russian gold, submitted by Assistant Secretary of Treasury 11/ 3 American National Livestock Association: Invitation from, to Gov. Harding, to address conference at El Paso, Jan. 12 - 14, 1921 10/29 Anerican Overseas Trust: Reservation of title of, for corporation to be organized under Section 25(a) of ElAct, requested by Arthur Mayer of New York; granted to October 1st. 7 /27 Time extended to Nov. 1st., upon request of Ur. Mayer 9 /29 Amsink & Co. See "G. Amaink & Co." Anglo-alifornia Trust Co. of San Francisco, Cal. Permission granted, to operate branch at #101 Market St., San Francisco 10/28 Annual Reports, F. R. Banks: Preparation of; draft of letter from Board to FRAgents 11/12 Above approved 11/15 Arizona American-Egyptian Cotton Acceptance Credit: Eligibility for rediscount by &Banks of acceptances drawn under; inquiry from Chicago 9 /14 Reply of Governor 9 /14 Views of Board requested by Chicago re eligibility of, in light of further explanation, and reply of Governor 9 /17 Assessmant on RBanks for expenses of ERBoard for six months period ending June 30, 1921 12/16 Assistant Secretary, F. R. Board: Eddy, Walter L., appointment and salary as, 10/14 Assistant Secretary of Treasury Gilbert: Copies of letters submitted by, to Governors of all ERBanks but Boston and Chicago, re deposits made through &Banks an account of 5;) fund for redemption of national bank notes 11/ 3 Letters from, re Bolshevik:Russia, transfer of funds to, through North American Bank of New York, for Jewish relief purposes; Mr. Wills authorized to investigate 12/ 7 FRBanks absorbing general overhead expenses of fiscal agency departments, without allocating any given proportion to reimbursable fiscal agency expenses 10/26 Revisions of legends on backs of F. R. notes and ERBank notes; ordered topic for conference of Governors and &Agents, Oct. 13th. 10/ 5 Letter to Govs. and RAgents re above, 10/12 Page 895 887 651 795 884 921 925 766 766 776 1025 841 894 980 879 811 836-7 VII Page Assistant Secretary of Treasury Gilbert: (continued) Letters from, re Russian bolshevik gold, outlining plan for preventing 11/ 9 shipments of, to United States Telegrams from, to MBank of New York and Assistant Treasurer of United States at New York, re handling 11/ 3 of currency by ERBank of New York Atlanta, Birmingham and Atlantic Railway Co. Loan to, approved upon recommendation of Railway Loan 8 Ai Advisory Committee Atlanta National Bank: Large borrowings by, from MBank of Atlanta; letter 12/ 2 from FRAgent McCord Australia: See under "Dollar Exchange', Austrian Hungarian Bank, Vienna, Austria: Appeal for aid from employees of, to employees of Board 12/29 Automobile Industry: Newspaper report of speech of ERAgent Ransay discouraging loaning of money to; protest from Kansas City Motor Oar Dealers Association against, and reply of Governor 8 / 3 Automobile Paper: Protest from Detroit Clearing House Association against proposed action of certain RAgents in discriminating 9 /22 against, Automobiles: Acceptance credit covering transactions in; letter from 11/15 Fletcher American Co. of Indianapolis re, Balances in Japan: Copy of letter from Acting Governor of MBank of New York re, forwarded Secretary of State Baltimore & Ohio Railway Co. Form of loan of 43,000,000 to, approved upon recommendation of Railway Loan Advisory Committee Banco Americano Mercantil de Cuba: Drafts to be .drawn by, for proposed acceptance credit covering transactions in sugar; telegram from Messrs. Strauss & Brown of New York re, and reply Banco Mercantil Americano de Caracas of Caracas, Venezuela: Opening of branch at Valencia, August 5, 1920 Banco Mercantil, of Paraguay: Notice from Secretary of State of suspension of payments by, November 11th. 914 894 677 969 1061 665 785 925 9 /22 785 10/11 821 11/12 922 8 /11 679 11/18 932 1 Bangor & Aroostook Railroad Go. Loan of 420,000 to, for additions and betterment s, approved upon recommendation of Railway Loan Advisory Committee 9 /22 Bank of England: First shipment of gold earmarked with, for FRBanks; notice of arrival in New York 10/ 5 Bank of France: Cablegram confirming agreement re proposed earma rking of gold by, for FRBank of New York; receipt of, by latter bank 10/ 5 Earmarking by,of 435,000,000 gold for account of FRBaMk of New York, requested by latter,other RBank s to participate in, 9/8 Above approved, gold to be counted as part of lawful reserve of FRBank of New York pendi ng shipment to United States 9 /9 Copy of letter from Acting Governor of RBank of New York to Bank of France and ERBanks re, 9 /17 Confirmatory cablegram re agreement,from Bank of France to ERBaak of New York 10/ 5 Letter from Acting Governor of FRBank of New York with further reference to matter 10/11 Reply of FRBank of New York to Bank of France 10/19 Gold holdings of, as reflected in statement; memo. of Board's Statistical Department re, 12/ 7 Yir. Wills to ask &Bank of New York if gold reported earmarked for its use by Bank of France is actually segregated 12/ 7 FRBank of New fork of opinion that earmarked gold is actually segregated 12/ 9 Bank of Goltry, Oklahoma: Withdrawal of, from System, recommended by ERAgent Ramsay of Ksnsas City 12/14 Withdrawal approved 12/21 Bank of Italy: Permission granted, to establish two branches in San Francisco 12/ 9 Bank of North. Dakotas Letter from Chief National Bank examiner of Ninth Dist. to Comptroller re, and re financial situation in North Dakota 12/ 7 Bank of Ranger, Ranger, Texas: (failed) Action of FRBamk of Dallas in forwarding items for collection to; letter from Board to the ERBank censuring, 7/7 Settlement of claims due on account of items forwarded for collection to, by FRBank of Dallas; letter from FRBoard re policy in connection with, 7/ 7 Page 783 811 811 755 757-58 771-72 811 823 855 984 985 988 1010 1039 989 984 607 606 IX Banking & Business Conditions in Fifth District: Discussion of national bank examiner Finney with Board re, and re strained banking conditions in North & 10/ 5 South Carolina Banking Corporation of Helena, Montana: Extending of accommodations to; letter from Vice-President of Continental & Commercial National Bank of Chicago 7 /6 to ERBank of Minneapolis re, Banking Situation in Cuba: Communications from representatives of State Dept. Bethlehem Steel Co. Interstate Commerce Commission to provide cars for movement of steel from, for FRBanks of Boston and Kansas City Bill No. 4537 (Senate), amending &Act re notes, drafts and bills of exchange of cotton factors or commission merchants; 12/10 letter from Board to Senator McLean stating views re, Bill of Lading Drafts: Collection of, received direct from non-member bank for credit to account of member bank; letter to ERBanks re, Bills: Five proposed, to Congress, submitted by Senator McLean, requesting Board's opinion thereon; reply authorized Senate, proposing amendment to RAct re extending limit upon agricultural paper; draft of letter to Senator McLean expressing Board's disapproval of, Bolshevik Russia: Transfer of funds to, through North American Bank of New York, for Jewish relief purposes; letter from 12/ 7 Assistant Secretary Gilbert of Treasury re, 12/ 7 e to investigat authorized Wills Mr. Bonding Companies: Claims against, for unlocated shortages in tellers' cash; letter from San Francisco as to whether FRBanks should 9 /29 make, Bonds: Sale of, under Section 18 of FRAct; no applications from national banks for, for quarter ending June 30th.; 7/1 advice from Asst. Treasurer of U. S. from ns Sale of, under Section 18 of FRAct; no applicatio national banks for, for quarter ending September 30, 11/ 9 1920,received by Treasury Dept. Bonus: F. R. Bank of Atlanta: 12/14 Payment of, authorized 12/21 10th Resolution re, adopted by directors, Dec. 814-15 601-2 841 732 999 678 991 1005 980 980 795 589 911 1007 1035 X Page Bonus: (continued) F. R. Bank of Boston: Certain recommendations re, from Chairman of Bank 12/ 9 Recommendation re payment of, to employees,approved 12/14 F. R. Bank of Chicago: Payment of, to employees, for fourth quarter,1920 12/ 7 Payment of, to officers and employees receiving 46,000, or less 9 /22 F. R. Bank of Cleveland: Payment of, to employees for quarter ending Sept. 30th.9/ 14 Payment of, to employees; resolution covering, 12/15 F. R. Bank of Dallas: Granting of bonus to officers below rank of Deputy Gov. receiving salaries above 45,000, disapproved 7 /14 payment of quarterly, at same rate as paid during first six months, authorized for last two quarters 7 /14 F. R. Bank of Kansas City: Payment of additional compensation to employees for 1920 upon same scale as paid in 1919, authorized 12/ 7 F. R. Bank of New York: Payment of additional compensation to officers and employees for third quarter of 1920 9 /29 F. R.Bank of Philadelphia: Payment of, for past six months of 1920, authorized, also statement to employees re probable discontinuance of, in future 12/16 F. R. Bank of Richmond: Authority for payment of, requested 12/10 Payment of, upon terms previously authorized 12/21 F. R. Bank of St. Louis: Payment of, for 1920, upon sane basis as approved for 1919 12/16 F. R. Bank of San Francisco: Payment authorized for six months period ending Dec. 31, 1920 12/21 Boston & Yaine Railroad: Form of loan of „16,656,479 to, approved upon recommendation of Railway Loan Advisory Committee 12/28 Boston News Bureau: Statement given out by, criticizing Board's policy re restriction of credit, and carried on ticker in New York, of date 8 /26 Request from Editor of New York Commercial for statement by Board as to correctness of report 8 /26 Statement to press authorized, defining Board's position re credit control 8 /26 Statement by Chairman of Board approving giving of statement to press 8 /26 991 1004 962 784 763-4 1018 62a 628 983 794 1023-4 995 1033 1024 1032 1057 719 719 719 720 X.1 Branch Banks, Domestic: Anglo-California Trust Co. of San Francisco, Cal., granted permission to operate branch in San Francisco 10/28 Bank of Italy granted permission to establish two branches 12/ 9 in San Francisco granted Ga., Brunswick, Co., Trust Brunswick Bank & 6 /18 permission to establish branch at Arco, Ga. ,granted Ga. Atlanta, of Corporation Trust Central Bank & permission to establish branch in Atlanta subject to 11/ 3 approval of State Banking Dept. of Ga. to Ohio, authorized Cleveland, Co., Cleveland Trust establish branch at present location of Forest City 7 /13 Savings & Trust Co. of Cleveland of branched approval Bank, Savings & Trust Angeles Los 9 /30 established by, Iderrill Trust Co. of Bangor, Maine, granted permission 12/21 to establish branches at Bucksport & Machias, Maine Union Trust Co., Cleveland, Ohio, authorized to operate 12/28 certain branches after consolidation Dec. 31st. Branch Banks, FRS: Baltimore: Directors: (See under heading "Directors") Salaries: 8 /17 Increases in, of employees, approved Staff: 7/ 2 Donohue, D. Scott, appointment in Auditing Dept. McElroy, James W., appointment as field representa8 /25 tive Birmingham: By-laws amended, to fix fees of directors attending 10/26 directors' meetings at 410 per diem Directors: (See under heading "Directors") 12/21 Officers; election of, for 1921 Salaries: 7/6 Increases in, of employees of FRAgent's Dept. Vault facilities for handling sub-treasury functions; 9 /29 lease of suitable, authorized Buffalo: By-laws; amendment to Section 1, Article 2 of,provid12/21 ing for two additional directors Salaries: Adjustments in, of employees whose anniversaries of employment fell during September Cincinnati: Quarters: Purchase of site for, not to exceed 4380,000 Salaries: Increases in, of employees, effective August 1st Sub-treasury functions; authorized to undertake, 884 989 697 895 621-2 804 1040 1056 693 592 712 874 1035 600 794 1034 10/12 834 10/19 658 8 /11 12/21 681 1031 XII Page Branch Banks, FRS: (continued) Current expense reports, uniformity in rendition of; memo. of Mr. El'nerson re, and letter by Gov. to AlBanlis 10/19 • Denver: By-laws; amendment of, to provide that discount committee consist of manager,cashier and director 9 /8 Detroit: Acting Assistant FRAgent, appointment of H. H. Gardner as, 9/7 Acting Assistant FRAgent; resignation of H. N. Baxendale as, 7/8 Butzel, H. Id., Assistant Counsel, salary increased 12/29 Reserve stock of F. R. notes carried by; proposed rental of vaults from Wayne County & Home Savings Bank of Detroit for holding part of, 7 /14 Salaries: Butzel, H. id., Asst. Counsel, salary increased 12/29 Staff: Baxendale, H. N., Acting Asst. FRAgent; resignation reported 7/8 Gardner, H. H., appointment as Acting Asst. FRAgent 9 / 7 Transfer of sub-treasury functions to; letter from ERBahk of Chicago re, 7/6 El Paso: Assistant FRAgent, appointment of W. P. Clark as, 10/28 Currency; shortage of 41,000 in shipment of, from El Paso to Washington; report re, 11/ 9 Report by Gov. Harding that supposed shortage had been eliminated by discovery of counterbalancing average 11/15 Directors: (See under heaaing "Directors" Salaries: Increases in, of employees, approved Recommendation re certain changes in,approved ( ) 9 Shortage in Paying Teller's cash; letter from Dallas 8 /24 Staff: Certain changes in, recommended and approved 11/30 Clark, W. P., appointment as Assistant FE:Agent 10/28 King, R. L., Asst. FRAgent; transfer to Houston branch in same capacity 10/28 Trepagnier, George J.,.appointment as clerk in Auditing Dept. 7 /20 Helena: Rowley, H. W., application to serve as director of two national banks as well as of branch, approved 10/21 Salaries: Towle, R. E., salary approved at 44,000, as Cashier 8 /11 853 755 748 611 1061 625 1061 611 748 595 884 910 925 ::! 707 962 884 884 640 866 679 XIII Page Branch Banks, ERS: (continued) Helena: (continued) Staff: appointment as Cashier Towle, R. Houston: Assistant FRAgent; J. S. Niendorff relieved from duty as, Assistant FRAgent; R. L. King transferred from El Paso as, Directors: (See under heading "Directors") nuarters: New building, letter from FhAgent Ramsey re; Board favorable, providing cost of building and vault not exceed .350,000 Purchase of site for, at price not exceeding .1;80,000, recommended Purchase of site for, at ,i167,500, requested by 8 /11 679 10/28 884 10/28 884 11/19 940 10/12 835 10/14 Dallas 10/15 Purchase approved Salaries: Aggregate increase of .43270 per month in salaries of 8/3 employees 9 /29 Broussard, Etta, salary increased 9 /29 Gossett, E. F., Manager, salary increased Staff: Ikard, (Mr.), transfer from AlBank of Dallas to 12/14 branch as Cashier King, R. L., transferred from El Paso as Assistant 10/28 FRAgent 11/10 Meyers, Elmer F., appointment and salary Niendorff, J. S., Asst. FRAgent, relieved from duty 10/28 Latter from FRAgent Ramsey advising of request 10/30 for resignation of Mr. Niendorff employee of Theft of 410,000 from vaults of; confession 12/ 2 responsible measures re Vault protection at; letter from Dallas 8 /24 being taken to provide adequate, Jacksonville: By-laws amended, to fix fees of directors attending 10/26 directors' meeting at .410 per diem s”) "Director Directors: (See under heading 12/21 Officers; election of, for 1921 Salaries: 7 /6 Increases in, of employees of ElAgent's Dept. Little Rock: (See under u(uarters", same bank) Building site: quarters: Additional, approval of acquisition of, requested 11/22 841 846-7 667 798 798 1010 884 916 884 891 970 707 874 1035 600 946 XIV Page Branch Banks, FRS: (continued) Little Rock: (continued) Quarters: Building site, purchase of, for $85,000,authorized 12/23 Protest against erection of building for branch, from President of City Nat. Bank,Fort Smith,Ark.11/30 Staff: Coe, F. A., transfer from FRBank of St. Louis as Assistant Cashier 8 /11 Sub-treasury functions; undertaking of, authorized 12/21 Los Angeles: Building site for, proposal to purchase, 12/22 Building site for; telegram from Mr. Miller to FRAgent Perrin re, 12/23 Examinations of large Los Angeles banks; advice from FRAgent Perrin of arrangements made to join State authorities in, during next thirty days 11/ 9 Members of Los Angeles branch to assist in, 11/ 9 Loss of coupons valued at 4375; advice re, 9/ 7 quarters: Building site; proposal to purchase, 12/22 Telegram from Mr. Miller to FRAgent Perrin re, 12/23 Louisville: Quarters: Expenditure of $25,000 in purchase of property adjacent to Bank, and 417,500 in construction of building thereon, authorized 8 /24 Sub-treasury functions; undertaking of, authorized 12/21 Memphis: Cotton warehouse receipts as collateral; branch will not accept after July 1, 1921, unless accompanied by information re grade of cotton 12/ 3 Suggestion by Board for similar action by other FRBanks and branches in cotton communities 12/ 3 Sub-treasury functions; authorized to undertake, 12/21 Nashville: By-laws amended to fix fees of directors attending directors' meetings at 410 per diem 10/26 Directors: (See under heading "Directors") Marnger; appointment of J. B. McNamara as, 7 /14 Manager; resignation of Bradley Currey as, 7 /14 Officers; election of, for 1921 12/21 Salaries: Increases in, of employees of RAgent's Dept. 7/6 Staff: Currey, Bradley; resignation as Manager 7 /14 Fort, Joel B., appointment as Cashier 7 /14 McNamara, J. B., appointment as Manager 7 /14 1046-7 960 681 1031 1044 1048 910 910 750-1 1044 1048 708 1031 975 975 1031 874 625 625 1035 600 625 625 625 XV Page Branch Banks, FRS: (continued) New Orleans: 12/24 Bush, A. P., re-designated Deputy-Chairman for 1921 By-laws amended to fix fees of directors attending directors' meetings at 420 per diem, and attend10/26 ing executive committee meetings at 410 per diem (See under heading "Directors") Directors: 12/21 Officers; election of, for 1921 Salaries: 7 /6 Increases in, of employees of FRAgent's Dept. 12/24 1921 for Chairman -designated re H., P. Saunders, Oklahoma City: Expected opening of, August 2nd.; advice from 7 /20 Kansas City Telegraph wire between, and FRBaak of Kansas City; 7 /20 establishment of, authorized Omaha: By-laws; amendment of, to provide that discount 9/a committee consist of manager,cashier and director Refusal of, to rediscount for First National Bank of Rawlins, Wyoming, domestic acceptances secured by 7/7 bills of lading covering wool in transit Pittsburgh: 12/15 Cobun, F. E., appointment as Assistant Cashier Salaries: 8 /11 Increases in, of employees, effective Aug. 1st. 12/21 Sub-treasury functions; authorized to undertake, Vaults; contracts for enlargement of, at cost not in 8 /12 excess of 4260,000, approved Portland: Salaries: 8 /24 Mason, A. B., Asst. Auditor, salary increased Staff: 12/ 7 Ordeman, Edward Lewis, appointment and salary Salt Lake City: Quarters: Building site; proposal of San Francisco to purchase 12/22 for branch FRAgent to Building site; telegram from Mr. Miller 12/23 Perrin re, Seattle: 12/23 Peabody, C. E., resignation as director Staff: MacEachron, Scott A., Manager of Discount Dept.; 10/11 appointment and salary 10/11 Russell, Bertram A., appointment and salary Spokane: Staff: Schmidt, George H.,appointment and salary as Oashier10/14 1052 874 1035 600 1052 638 638 755 605 1018 681 1031 685 710 983 1044 1048 1048 822 822 843 XVI Branch Banks, Foreign: Brazil: Permission granted First National Bank of Boston to establish branch in, 9 /21 examination of foreign branches of foreign banking cor— porations doing business under agreement with RBoard; memo. of Mr. Paddock re, 8 /4 Mercantile Bank of the Americas, branches in South Anerica; letter from national bank examiner Daniel C. Mulloney to Comptroller re, 11/12 Merida, Mexico: Permission to establish branch at, granted Interstate Trust & Banking Co., New Orleans, La. 7/8 National City Bank of New York; transfer by, to International Banking Corporation, of Spanish branch, including offices at Madrid and Barcelona 7 /20 Tampico, Mexico: Permission to establish branch at, granted Interstate Trust & Banking Co., New Orleans, La. 7/8 Valencia, Venezuela: Opening of branch at, of Banco Mercantil American° de Caracas of Caracas, Venezuela; advice re, 8 /11 Vera Cruz, Mexico: Permission to establish branch at, granted Interstate Trust & Banking Co., New Orleans, La. 7/8 Brown Brothers of New York: Shipment of Russian gold rubles to, from Stockholm 9 /17 Brunswick Bank & Trust Co., Brunswick, Ga. Permission granted, to establish branch at Arco, Ga. 8 /18 Buckles, V. M., National Bank Examiner: Letter from, to Minneapolis, re financial, commercial and agricultural situation in Montana,transmitted ERBoard 11/19 Bureau of Standards: Reimbursement of, for labor and materials furnished for vault construction tests of ERBoard,approved upon recommendation of Mr. Trowbridge 10/ 5 Burglary Insurance Underwriters Asso. of N. Y. City: Request from, for representation at vault construction tests of aBoard; Mr. Trowbridge authorized to extend invitation 7/8 Business Conditions: Monthly reports on, and on Public Relations work; report of Special Committee of eRAgents on,submitted by FRAgent Jay 11/29 of Committee of Board re, approved 12/ 2 779 671 923 610 638-9 610 679 610 772 697 940 610 613 958,' 970 /Report YATH. Page Business Conditions: (continued) Monthly reports on; letter from 2RAgent Martin re FRAgents furnishing copies of, to newspapers outside of their 10/ 5 districts Miller that Monthly reports an; suggestion of Mr. 9 /17 FRAgents be instructed to confine, to own districts members that Miller Mr. Monthly reports on; suggestion of of Advisory Council be requested to furnish,in their 10/21 several districts, for confidential use of Board re distribution Emerson Monthly summary of; memo. of Mr. 10/12 of mimeograph copies of, advance that statement Miller Mr. Recommendation of on, be supplied without charge to all subscribers 10/21 of large edition of Bulletin requesting sane Oct.; of month during districts, several Reports on, from letter from Dr. Willis detailing methods of handling,10/30 10/ 5 Second FRDistrict; report from Asst. ERAgent re, States: Business Conditions in United Form of announcement to be made by Board re, for month 10/30 of October, approved BY-laws, F. R. Banks: See under various F. R. Banks By-laws, F. R. Board: Adoption of amended, made special order of business 10/ 1 on Oct. 12th. 10/12 Revision of, 812 776 867 633 866 892 809 890 807 824-830 ttO Call Loans: Rates charged on, by State bank members in New York City; letter from Comptroller of Currency suggesting Board 687 8 /13 call for report re, Canadian Deposits: Reserve upon special, held in member banks; letter from 11/18 Gov. Harding to FRBank of Chicago re,936 Capital & Surplus: Foreign Credit Corporation of New York; amendnent of agreement with Board providing aggregate of acceptances outstanding, plus total deposits, not exceed 9/8 754 twelve times subscribed capital and surplus of St. Bank Paul: National Capital Inquiry from Minneapolis if in substantial competition 982 12/ 7 with Northwestern National Bank of Minneapolis Capital Stock: (See "Stock") XVIII Carolina, Clinchfield, & Ohio Railroad: Advance of 42,000,000 to, recommended by M. C. Elliott of Railway Loan Advisory Committee 7/8 Form of loan of 41,000,000 to, approved upon recom, mendation of Railway Loan Advisory Committee 10/11 Central Bank & Trust Corporation, Atlanta, Ga. Permission granted, to establish branch in Atlanta, subject to prior approval by State Banking Dept. of Georgia 11/ 3 Central New ).gland Railway Co. Form of loan of 4300,000 to, approved upon recommendation of Rai/way Loan Advisory Committee 11/16 Central Union Trust Co. of New York City: Permission granted, to accept, for purpose of creating dollar exchange in Brazil 10/21 Certificate for member banks, showing investment of 50,; in capital stock of PRBanks; form of, submitted by MBank of New York 9/1 Certificates of Deposit: Requisite of time; inquiry from Deputy Gov. at Kansas City re, with memo. of Asst. Counsel and reply of Gov. 7 /20 Certificates of Indebtedness: (See also Treasury Certificates) Advance of funds to Treasury Dept. against Treasury 2; letter from Gov. McDougal of Chicago re, 11/30 Docketed for Dec. 3rd. 12/ 1 Report by Mr. Miller of interview with Secretary of Treasury re, 12/ 2 Submission of draft of letter to Secretary of Treasury re policy of Treasury Dept., also letter to all Governors and Agents of FRBanks 12/ 3 Extension of time in case of special, maturing on or after August 20, 1920, and prior to August 20, 1921 8 /11 Rate of 2;; Treasury, issued to FRBanks to prevent overdrafts, to be increased to 4,, and balances created by uncollected funds not to be withdrawn by Treasury Dept. without consultation with Board; statement by Gov. Harding 12/14 Special 2/ 3, offered ERBanks by Treasury Dept. pending deposits of tax receipts and collection of funds from depositaries, to carry rate of 4i; in future; announcement of Secretary of Treasury 12/15 Telegram from Board to RBanks announcing future policy of Treasury Department re above 12/15 Chadbourne, Hunt & Jaeckel of New York City: Letter from, re desirability of organizing corporations under Edge Act 7 /29 Reply of Governor 7 /29 Chamber of Commerce of Boston: ERBank of Boston as Class "A" member of, not favored by ERBoard, but no objection to individual in Bank assuming membership 10/19 Page 612 821 895 928 865 736 637 962 966 970-1 974 678 1006-7 1020 1020 660 660 854 xix Chamber of Commerce of United States of America: Request from President of, for reply to letter written Board under date of October 9, 1920 Letter of reply 12/ 7 12/ 9 12/10 Chapman, W. T., Secretary, F. R. Board: Granted statutory leave to which entitled, beginning 9 /29 October 1st. Letter of appreciation to, for services rendered while 9 /29 Secretary, authorized 9 /29 Resignation as Secretary Chase National Bank of New York City: Last examination of, by national bank examiners; report lo/ 5 by comptroller on, Permission granted, to accept for purpose of creating lo/ 5 dollar exchange in certain foreign countries Permission granted, to invest additional sum in capital 7/8 stock of American Foreign Banking Corporation Substance of interview between Comptroller of Currency 12/ 3 and Messrs. Thayer & Wiggin of, Total investments of, in foreign banking corporations, 7/8 not permitted to exceed 10/3 of capital and surplus Chemical National Bank of New York City: Application of, in connection with its interlocking 10/19 bank directorates Chicago & Western Indiana Railroad Co. Loan of 48,000,000 to, authorized, upon recommendation 8 /27 of Railway Loan Advisory Committee Chicago Great Western Railroad Co. Form of loan of 4276,000 to, approved upon recommendation 10/26 of Railway Loan Advisory Committee recommendation upon Form of loan of 4240,000 to, approved 12/ 1 of Railway Loan Advisory Committee recom,upon approved Form of loan of 41,929,373 to, 12/21 mendation of Railway Loan Advisory Committee Railway Co. Chicago, Indianapolis & Louisville Form of loan of 4200,000 to, approved upon recommendation 11/18 of Railway Loan Advisory Committee Chicago Live Stock Exchange: Letter from President of, transmitting resolution of National Live Stock Exchange requesting aid of ERSystem 7 /21 for live stock industry Co. Pacific Railway Chicago, Rock Island & Form of loan of 42,000,000 to, apnroved upon recommenda— 10/ 5 tion of Railway Loan Advisory Committee recommenda— upon approved Form of loan of 47,862,000 to, 11/22 tion of Railway Loan Advisory Committee Circular, F. R. Bank of Dallas: 11/23 Proposed, covering credit control 981 993 995 797 797 797 810 810 610 975 610 857 725 874 966 1039 933 643 810 944 953 XX Page Circular, F. R. Bank of Richmond: Draft of proposed, on "Rediscount of Cotton Factors' Paper" submitted 8 /31 Reply of Governor Harding 8 /31 Revised circular submitted 9/2 Circulars, F. R. Board: X-2089, to be sent to ERBanks, requesting list of officers and employees, as of Jan. 1, 1921,including data re salaries, positions and duties 12/11 Circulars issued by Secretary of Treasury re discontinuance of sub-treasury building in New York 12/ 7 Citizens Savings & Trust Co., Cleveland, Ohio: Consolidation of First Trust & Savings Co. of Cleveland with, 12/30 City National Bank, Fort Smith, Arkansas: Protest from President of, against erection of building for Little Rock branch of RBank of St. Louis 11/3o Claibourne, C. B., President Nat. & State Bankers* Protective Association: Letter from, re action by F. R. Banks since conference of representatives of Asso. with Board, May. 1, in encouraging banks to remit at par 7/6 Reply of Governor 7/6 Clayton Act: (See also"Interlocking Directorates") Board to review all existing permits to interlocking directors under, on April 1st. 12/21 Board's policy re administration of; report of Clayton Act Committee re, 12/ 1 Action postponed, pending full meeting of Board 12/ 3 Circular letter to FRAgents announcing Board's policy re administration of, 12/22 Form of amendment to, in lieu of Kern Alrendment, suggested by Deputy Gov. Harrison of New York 11/12 Kern amendment to; letter from RAgent Jay re, 11/22 Letter from Board to AlAgents asking information re interlocking directorates covered by, and by Kern Amendment thereto, with questionnaire for answering in detail 11/19 Letters to directors of national banks acting in violation of, 9/7 Policy of Board re administration of, as affecting interlocking directorates 12/14 Privileges of private bankers as directors of national banks under amendment to Section 8 of; suggestion from Deputy Gov. Harrison for informal announcement re 9/1 Reply to Deputy Gov. Harrison, approved 9/2 734 731 744 1002 981 1065 960 594 594 1040 966 974 1044 921 945 941 746 1004 737 743-44 xii Page Clayton Act: (continued) Status of President of Hibernia Bank & Trust Co. of New Orleans under, as director of both Mercantile Bank of the Americas and of proposed Federal International 12/ 7 Banking Co.; letter re, Clearing & Collection: Collection: Bill of lading drafts received direct from non-member bank for credit to account of member bank; letter 8 /11 to FRBanks in re collection of, Law passed by South Dakota Legislature re exchange 7 /16 charges on checks; advice from Minneapolis Louisiana law to prevent FRSystem from forcing banks to collect at par; views of Counsel re,requested a /31 by Dallas; reply of Governor approved Cleveland Chamber of Commerce: 8 /17 Request from, that Gov. address, in September or Oct. Cleveland Trust Co., Cleveland, Ohio: Branch authorized, at present location of Forest City 7 /13 Savings & Trust Co. of Cleveland Collateral: Cotton warehouse receipts as; Memphis branch not to accept, after July 1, unless accompanied by satisfactory 12/ 3 information re grade of cotton Board suggests similar action by other FRBanks 12/ 3 and branches in cotton communities Commerce Bank & Trust Co., Comnerce, Ga. Condition of admission to ERSystem as to rediscounts, 10/28 waived Commercia1 Paper Market of New York City: Weekly report on, submitted by Assistant FRAgant at 10/19 New York Commission Merchants: Discounting of paper of, by FRBank of New York; matter 12/14 to be taken up by Board with the FRBank Commissioner of Internal Revenue: Letter from Acting, re powers of, under Section 406 of Revenue Act, re postponing date of paymnt of estate taxes where not possible for estate to raise 8 /27 funds Comndssioner of the Public Debt: Advice from, re proposed designation of Alvis T. Ellis as alternate vault clerk in connection with custody 12/ 1 of F. H. notes and F. R. Bank notes Committees, F. R. Board: Admission of State Banks: Wills, D. C., appointed member of, 9 /29 979 678 619 733 694 621-22 975 975 886 852-3 1005 725 967 796 XXII Page Committees, F. R. Board; (continued) Applications for Fiduciary Powers; Wills, D. C., appointed member of, 9/ 29 Budget and Expenditures: Matters previously referred to, to be referred in future to Executive Committee 11/12 Bulletin: Platt, Edmund, appointed member of, 8 /19 Clayton Act: Report of, re Board's policy re administration of Clayton Act: 12/ 1 Action postponed, pending full meeting of Board 12/ 3 Wills, D. O., appointed member of, 9 /30 Executive; All action of, during week ending August 14th., in absence of quorum of Board,ratified by Board 8 /13 Matters to be referred in future to, previously referred to Committee on Budget & Expenditures 11/12 Miller, Adolph C., appointed member of, for period expiring October 1st. 8 /19 Wills, D. C., appointed member of, for quarter ending Dec. 31st. 9 /29 Operations of F. R. Banks of Phila. & Cleveland: Wills, D. C., appointed member of, 9 /29 Committees: (Miscellaneous) Expenses of committee of experts attending conference at Bureau of Standards Sept. 15th., re vault construction tests, payment of, authorized 9 /14 Inter-Federal Reserve Bank Pension Fund: Conclusions of; report re, from FRAgent Jay 11/30 Fee of special counsel for proposed; letter from Deputy Gov. Harrison of New York re, 7 /20 Maximum fee of J7,500 approved for counsel 8/3 Report re conclusions of committee,from FRAgent Jay 11/30 Report of committee appointed at Governors' Conference April 7 - 10, to study issue and redemption of Federal Reserve currency 7/1 No objection by Board to plan of committee, but desires copies of report be forwarded FRAgents and Governors for criticism 7/ 2 Comptroller of the Currency: Attention called by, to misleading newspaper headline saying RBank had failed 12/16 Copy of letter submitted by, from Examiner Mulloney, from Bogota, Columbia 11/16 Letter from, suggesting Board call for report of rates charged by State bank members in New York City an call loans 8 /13 796 922 702 966 974 805 686 922 702 796 796 764 961 638 665 961 589-90 593 1023 928 687 XXIII Page Comptroller of the Currency: (continued) Memorandum of, re cost of maintaining special division of Board to count MBank notes, in lieu of service now 6 /31 rendered by A. S. Pratt & Sons Office of, 9 /14 Connell, J. J., salary increased to 41,800 per annum iny, salary Secretar George, Harold Lee, Private creased to 43,000 per annum for period Oct. 1-26, 10/ 5 1920 the y to Secretar as ion George, Harold Lee, resignat 10/26 Comptroller to y ler Secretar Comptrol d Mount, Morris Blake, appointe 10/27 at 42,500 per annum Redemption Division: 11/ 6 Milliken, (Mrs.) E. W., resignation requested e procedur stating City, Kansas of Reply of, to Gov. Miller national g affectin mergers necessary for expediting 11/ 4 banks in received replies of Report of, giving brief summary response to questionnaire sent national banks on rates on loans to customers, also suggesting reduction in 8 /26 discount rates in n reductio ving disappro Harding Statement by Gov. 8 /26 discount rates until after moving of crops FRBanks by nt rediscou for ity Statement by, re eligibil 10/26 of cotton factors' paper New of Co. Trust Guaranty of Statement by, re practice York in receiving drafts drawn by National Bank of Cuba left blank as to identity of drawee, suggesting immediate 12/ 3 examination of bank by Board 12/ 3 Y. N. of Ryan A. A. and between, w Substance of intervie & Thayer Messrs. and between, w Substance of intervie 12/ 3 Wiggin of Chase Nat. Bank of New York loans on rate interest ,..4 1 4 of approval for of, Suggestion on Liberty bonds made prior to time reduced rate should 8 /26 become effective Member Banks: of Condition Report (See Weekly Condition Report of Member Banks) Condition Reports: Changes in condition at FRBank of New York, report re, and upon general financial and business conditions in 8 /26 New York City Conditions in the South: 10/11 Report by Governor Harding re general, R. F. and Agents: s Governor ce of Conferen Galling of, in Board's assembly room, National Metropolitan 10/12 Bank Building, Oct. 13th., authorized /17 8 13th. October Board, with Calling of, 732 765 814 876 881 903-4 899-900 721-22 722 872 975-76 975 975 721 718 821 836 689 my page Conference of Governors, F. R. Banks: Memorandum of Mr. Hoxton re, held Oct. 14th.and 15th. Memo. of Mr. Wills re Mr. Hoxton's review of conference Recommendations made by last; attention called by Lir. Wills to lack of action on, Comwents by Board on recommendations made by conference held Oct. 14th. and 15th.,transmitted to Governors of all FRBanks 12/ 1 966 12/ 9 989 12/22 1045 12/29 12/29 1060-4 l066- Conferences: (Miscellaneous) Conference at Bureau of Standards Sept. 15th. in re vault construction tests; authorization for payment of expenses of committee of experts 9 /14 Conference at Bureau of Standards Sept. 15th. in re vault construction tests; compensation and expenses authorized for Consulting Engineer Miller 9 /14 Continental & Commercial National Bank, Chicago, Ill. Letter from officer of, to FRBank of Minneapolis, re extending accommodations to Ballking Corporation of Helena, Montana 7/6 Contracts: Necessity for revising terms of export acceptance credit contracts now in use, particularly those of packers; attention called to, by Deputy Governor Harrison of New York 10/26 Conventions of State Bankers' Associations in Seventh Dist.; report by ERAgent Heath of visits to, with particular reference to Iowa convention 7/6 Conversion: Liberty Bank of St. Louis to convert into trust company, taking over assets of Central National Bank of St. Louis 12/21 Corn Exchange Bank of New York City: Application of, for permission to accept, for purpose of creating dollar exchange in certain foreign countries 9 /14 Corporations under Edge Act: Desirability of organizing; letter from Chadbourne, Hunt & Jaeakel of New York City re, 7 /29 Reply of Governor 7 /29 Names suggested by P. H. Saunders of New Orleans for corporation organized by Southern bankers 11/ 8 Cotton: Board's policy re acceptance by member bank of drafts issued against unsold, in warehouses, requested by President Fishburn of Merchants National Bank of Los Angeles, California 10/21 764 764 601-a 878 600-1 1040 763 660 660 906-7 867 X.CV Page Cotton Acceptance Credit: rediscount by Arizona American-Egyptian; eligibility for from Chicago 9 /14 ry inqui ; ERBanks of acceptances drawn under 9 /14 Reply of Governor y bilit eligi re go by Chica Views of Board requested of, in light of further explanation, and reply 9 /17 by Governor Cotton Crop: can Cotton Financing of; letter from President of Ameri 7 /21 nor Gover of Association re, and reply Cotton Factors' Paper: of; statement by Eligibility for rediscount by RBanks 10/26 re, ncy Comptroller of Curre 5 10/ re, Louis St. of k Letter from ERBan in Board's Letter from Gov. Seay of Richmond concurring 10/29 recent ruling re, ts of resul Matter of, deferred, pending report from Mr. Jay 10/16 York New of RBank by of study of question 10/26 Memorandum of :vire Hamlin re, telegram Reconsideration of Board's ruling re, urged in 10/20 of Ga. tives senta Repre and ors Senat signed by various ks, by ERBan Ruling of Board that not eligible for rediscount and Govs. 10/26 nts ERAge to ng Hardi Gov. from r upheld in lette Cotton Grower: cotton factor Eligibility of drafts drawn by, and accepted by selling cotton for grower, proceeds to be used for of agricultural Tourposes; Board's reply to MBank 8 /26 Richmond re, tin accep Eligibility for rediscount by ERBanks of certa of Greenwood, n iatio Assoc ative Cooper n Cotto ances Staple a /la re, Miss. purposes to make for; letter from Asso. a /18 Opinion of Counsel and reply of Governor Cotton Loans: n is held Establishment of special rates for, where cotto Atlanta; of k in special warehouses, requested by ERBan 8 /17 approved, if no objection by Counsel /19 8 t reply submi Matter referred to Governor to hold to n of cotto cers Extension of credit to enable produ y re,requested crops for price above cost; Board's polic 8 /26 by American Cotton Association 8 /26 Reply of Governor Harding r lette on; secti n in cotto ks ERBan Treatment of, by banks and nor's Gover and re, e ultur from Acting Secretary of Agric 7 /20 reply reply c publi make to Dept. of Agriculture authorized 7 /20 of Gov. Harding Cotton Warehouse Receipts: 1921, unless *Memphis branch not to accept after July 1, grade of re n matio infor accompanied by satisfactory 12/ 3 Louis cotton; advice from St. 766 766 776 643 872 812 887 849 871-2 862 871-2 723 699 699 692 703 718 718 641 641 975 vi Cotton Warehouse Receipts: (continued) Suggestion by Board for similar action to that of Memphis branch by other FRBanks and branches in cotton communities 12/ 3 Cottonseed Oil: Domestic shipments of; letter from Deputy Gov. at Cleveland questioning propriety of certain bankers* acceptances covering, 11/ 9 Memo. of Ur. Wills re, with circular letter to FRBanks embodying Board's ruling on subject 11/22 Counsel, F. R. Board: (Assistant) Memorandums of, re Subscriptions to F. R. Bank stock by newly organized national banks 7 /14 Counsel, F. R. Board: (General) Law books for office of, purchase authorized 11/ 9 Letter from, to Counsel of ERBank of New York, re certain changes in ERBoard Form 86, "application by liquidating bank for surrender of stock" 11/16 Letter to Governors and Chairmen of RBanks re bankers' acceptances, and re form of contract or acceptance agreement in connection therewith, 10/29 Logan, Walter 6., salary increased 10/29 Lemorandwris of, re Changes in legends an ERBank notes and F. R. notes as suggested by Asst. Secretary of Treasury Gilbert,submitting draft of letter to Govs. and FRAgents re, 10/12 Drafts drawn by foreign governments,limitation on, 10/19 Eligibility of paper arising out of purchase of agricultural implements, submitting draft of ruling for approval 11/24 Extension of provisions of Section 11 (m) of FRAct 11/ 4 Method of handling applications of national banks for permission to purchase stock in corporations organized under Edge Act 12/14 Oregon constitution; proposed amendnent to, to establish maximum rates of interest and discount at 5,; in State 10/ 5 Favorable report by Mr. Hamlin re, 10/12 Mimeograph copies of memo. ordered furnished conference of Governors and ERAgents 10/12 Progressive discount rates; methods of ERBanks applying, 9/8 Termination of control of foreign exchange transactions with Soviet Russia, and importation of Russian roubles 7 /13 Opinions of, re Drafts originating in Sweden, eligibility for acceptance of, by member bank 11/ 9 Page 975 913 947 624 910 936 888 889 836 857 955 897 1006 812'1; 833 833 754 6181 91'4" Page Counsel, V. R. Board: (General) Opinions of, re (continued) Eligibility for rediscount by FRBanks of certain acceptances Staple Cotton Cooperative Association of Greenwood, Lliss., purposes to make for cotton growers 8 /18 Eligibility of paper arising out of purchase of 11/24 agricultural implements with for funds Treasury Legality of PRBanks providing purchase of additional equipment for currency print11/ 4 ing program for fiscal year 1922 in conducting expanses for Reimbursement of ERBanks 9 /14 fiscal agency departments for U. S. Treasury Committee: 2und Pension Bank Counsel for Inter-Federal Reserve 7 /20 Fee for special; letter from Deputy Gov. Harrison re, /3 8 Laximmn fee of ,?)7,500 approved Counsel's Office, F. R. Board: 11/ 9 Purchase of law books for, authorized Foreign Exchange: of Crane, J. E., Assistant Director, Div. 10/20 Reasons given by, why Pittman Act should now be repealed Credit: Advice from National Association of Credit Men of secrecy in assignment of accounts receivable in connection with 8 /11 credit transactions Chairman from letter American credit situation in Orient; 8 /24 of United States Shipping Board re, AlBank by issued Conditions in Ninth District; circular 9/7 of :anneapolis bearing upon, from reports Districts; Conditions in Seventh and Tenth 11/ 8 Lir. Wills re, of holding to enable cotton, of Extension of, to producers crops for price above cost; Board's policy re, requested 8 /26 by president of American Cotton Association 8 /26 Reply of Governor Harding given re, policy aBoard's of Restriction of; criticism out by Boston News Bureau and carried on ticker in 8 /26 New York for stateCommercial York New of Editor Request from 8 /26 ment by Board re correctness of above report Board's , defining authorized Statement to press 8 /26 position re credit control Credit Control: Circular covering matter of, to be sent out by FRBank of 11/23 Dallas ed of,submitt of results analysis Policies of FRBoard re; 10/11 by President of U. S. Chamber of Commerce 699 955 900 763 638 665 910 861 678 708 748 905-6 718 718 719 719 719-720 953 823 XXVIII Page Credit Situation: Agricultural; letter from Secretary of Treasury to Mr. Gray Silver, representing National Grange, re 9 /29 Cuba: Banking situation in; communications from representatives of State Department re, 10/14 Establishment of Government bank in, and issue of emergency currency; letter from Asst. FRAgent at New York re, 10/19 Financial and commercial situation in; confidential letter from national bank examiner Norris to Comptroller re, 11/19 Cuban Sugar: Eligibility of certain acceptances drawn against importation of; inquiry from Vice-President of Mercantile Bank of the Americas re, 7 /21 Draft of reply by Gov. Harding; referred 8/3 Revised draft of above letter approved 8 /4 Financing of crop for export to U. S.; letter from Board to American Foreign Banking Corporation in re ineligibility of certain acceptances for, 7/1 Currency: Handling of, by RBank of New York; copy of telegrams re, to the FRBank and Asst. Treasurer of U. S. at New York, from Asst. Secretary Gilbert of Treasury 11/ 3 Printing program for fiscal year 1922; opinion of Counsel re legality of FRBanks providing Treasury with funds to purchase additional equipment for, 11/ 4 Report of Committee appointed at Governors' Conference April 7 - 10 to study issue and redemption of Federal Reserve, 7/1 Gov. McDougal to be advised that no objection by Board to plan of committee, but copies of report Should be sent FRAoants and Governors for criticism 7 / 2 Shortage of .4,000 in shipment of, from El Paso to Washington; report re, 11/ 9 Report by Gov. Harding that supposed shortage had been eliminated by discovery of counterbalancing average 11/15 United States: See under "'United States Currency" Currency Designs: Revisions in legends on F. R. notes and ERBank notes, letter from Asst. Secretary of Treasury Gilbert re; ordered topic for conference of Governors and FRAgents, Oct. 13th. 10/ 5 Draft of letter by Counsel to Govs. & FRAgents re, 10/12 801 841 853 939 643 665, 671'4 566 894 900 569 ' 9 593 910 925 811 836'1 IIDII Page Deficiencies in reserves: See under "Reserves" Deposits: Amount of, State bank members may keep with non-member 10/15 banks; ruling re, requested by Dallas 10/15 of Governor reply and Counsel Opinion of 5; fund for redemption lade through &Banks on account of ' of letters re, to Govs. copies notes; of national bank 11/ 3 of Treasury Secretary Asst. by of &Banks, submitted in member held banks; Canadian, Reserve upon special 11/18 letter from Gov. Harding to FRBank of Chicago re, R. Banks: Deputy Chairmen, F. 12/24 Re-designation of certain, for year 1921 Deputy Fiscal Agent: 11/ 9 Eddy, Walter L., continued as, and bond arranged for, Association: House Clearing Detroit Protest from, against proposed action of certain &Agents 9 /22 in discriminating against automobile paper Dime Deposit Bank of Kulpmont, Pa. 11/23 Change in condition of membership Directors: Baltimore Branch: 12/10 Announcement of result of election of, 12/21 1921 for appointed Nilliam, Ingle, 12/21 1921 for appointed Waldo, Newcomer, Birmingham Branch: Fees of, attending directors' meetings, fixed at 40 per 10/26 diem 12/21 1921 for appointed riettig, W. H., 12/21 approved 1921, year List of, for 12/21 Wells, Oscar, appointed for 1921 Branch: Buffalo Amendment to by-laws of, providing for two additional 12/21 directors 12/21 Barcalo, E. J., appointed for 1921 12/21 Bartlett, F. L., appointed for 1921 12/21 Hubbell, Clifford, appointed for 1921 Cincinnati Branch: 12/21 Harmon, Judson, appointed for 1921 12/21 Hinsch, C. A., appointed for 1921 12/21 Reappointment of present, Denver Branch: 12/21 Adams, Alva B., appointed for 1921 12/21 Evans, John, appointed for 1921 Detroit Branch: 12/21 Ballantyne, John, appointed for 1921 12/21 Election of three, notice of, 12/21 Hodges, C. H., appointed for 1921 847 847 894 936 1052 914 785 950-1 996 1038 1038 874 1038 1036 1038 1034 1037 1037 1037 1038 1038 1034 1038 1038 1038 1039 1038 Page Directors: El Paso Branch: Appointment of; letter re, from FRAgent Rausey 12/14 Coles, A. P., appointed for 1921 12/21 Turney, W. W., appointed for 1921 12/21 F. R. Bank of Boston: Travelling expenses authorized for, residing at Providence and dorcaster, when attending meetings of their Board 7 / 2 F. R. Bank of Chicago: List of, to serve on Executive Committee of Bank for 1921 12/22 F. R. Bank of Cleveland: Fee of 420 approved for, attending executive and special committee meetings 9 /17 Helena Branch: Ford, L. .., appointed for 1921 12/21 Kaufman, L. 0., application to serve as director,while director and officer of Union Bank & Trust Co. of Helena, approved 9 /14 Marlow, Thomas, appointed for 1921 12/21 Rowley, H. W., application to serve as director of two national banks as well as director of branah,approved 10/21 Houston Branch: Appointment of; letter re, from FRAgent Ramsey 12/14 Davis, J. J., appointed for 1921 12/21 Farrar, R. 11., appointed for 1921 12/21 Jacksonville Branch: Cooper, J. C., appointed for 1921 12/21 Fees of, attending directors' meetings, fixed at 410 per diem 10/26 List of, for year 1921, approved 12/21 Saussy, Fulton, appointed for 1921 12/21 Little Rock Branch: Rogers, G. W., appointed for 1921 12/21 Wright, Eoorhead, appointed for 1921 12/21 Los Angeles Branch: Newton, I. B., appointed for 1921 12/21 Robinson, H. .., appointed for 1921 12/21 Louisville Branch: Sackett, Y. L., appointed for 1921 12/21 Swearingen, E. L., appointed for 1921 12/21 Memphis Branch: Ragland, J. E., appointed for 1921 12/21 Riddick, T. K., appointed for 1921 12/21 Nashville Branch: Davis, Paul N., appointed for 1921 12/21 Fees of, attending directors' meetings, fixed at 410 per diem 10/26 1008 1038 1038 594 1044 773 1038 765 1038 866 1009 1038 1036 log 874 1038 1038 1038 1036 1038 1038 1038 1038 1038 1038 1038 874 ZXXI Page Directors: (continued) Nashville Branch: (continued} 1038 12/21 Hartford, W. H., appointed for 1921 3.036 12/21 List of, for year 1921, approved New Orleans Branch: 1038 12/21 Bush, A. P., appointed. for 1921 1052 12/24 Bush, A. P., redesigated Deputy-Chairman for 1921 Fees for attending directors' meetings fixed at 420, 874 10/26 and for executive meetings at .40, per diem 12/21 1038 Foote, F. W., appointed for 1921 1036 12/21 List of, for year 1921, approved 1038 12/21 Saunders, P. H., appointed for 1921 1052 12/21 Saunders, P. H., redesignated Chairman for year 1921 Oklahoma City Branch: 1038 12/921 Mee, William, appointed for 1921 1038 12/21 Thurmond, E. K., appointed for 1921 Omaha Branch: 1038 12/21 Hall, P. L., appointed for 1921 1038 12/21 uarnell, R. O., appointed for 1921 Pittsburgh Branch: 1038 12/21 Callery, J. D., appointed for 1921 1038 12/21 Nesbit, Harrison, appointed for 1921 1 12 2 / 1034 Reappointment of present directors Portland Branch: 1038 12/21 Strauss, Nathan, appointed for 1921 962 11 / 0 3 Teal, Joseph N., resignation Salt Lake City Branch: 1038 12/21 Hanahett, La Fayette, appointed for 3.921 1038 12/21 Wright, G. G., appointed for 1921 Seattle Branch: 1038 12/21 Clarke, C. H., appointed for 1921 1038 12/21 3.921 Peabody, C. E., appointed for 1047 12/23 Peabody, C. E., resignation Spokane Branch: 1038 12/21 McGregor, Peter, appointed for 1921 12/21 1038 Toevs, G. I., appointed for 1921 Directors, Class "A" and "B": Election of; letter for use by Mr. Williams in bringing 878 126 law re, to attention of national banks of calling FRBarks Chairmen Election of; letter to 878 10/26 attention to law re, ing of re,designat ERBanks Chairmen Election of; letter to 747-48 9/7 Nov. 16th. as date for opening polls F. R. Bank of Atlanta: 991 12/ 9 Announcement of result of election of, from Chairman while Ottley, James K., to serve as Class "A" director 627 7 /14 officer and director of two other banks • Directors, Class "A" and "B": (continued) F. R. Bank of Dallas: Result of recent balloting for, 12/ 7 Directors, Class "C": F. R. Bank of Atlanta: McCord., J. A., elected for three years and ,designated FRAgent and Chairman of Board for 1921 12/21 Bank of Boston: R. F. Curtiss, F. H., elected for three years and designated Falgent and Chairman of Board for 1921 12/21 F. R. Bank of Chicago: Simpson, James, elected for three years and designated Deputy Chairman of Board for 1921 12/21 F. R. Bank of Cleveland: Director to fill vacancy caused by resignation of D. C. Wills; selection of, referred to Executive Committee 9 /30 Williams, L. B., designated Acting ERAgent 12/21 Wills, D. O., resignation 9 /29 F. R. Bank of Dallas: Ramsey, William F., elected for three years and designated FRAgent and Chairman of Board for 1921 12/21 F. R. Bank of Kansas City: Ramsay, A. E., elected for three years and designated FRAgent and Chairman of Board for 1921 12/21 F. R. Bank of Lanneapalis: Rich, John H., elected for three years and designated FRAgent and Chairman of Board for 1921 12/21 F. R. Bank of New York: Saunders, W. L., elected for three years, beginning Jan. 1, 1921 12/21 F. R. Bank of Philadelphia: Austin, R. L., elected for three years and designated FRAgent and Chairman of Board for 1921 12/21 F. R. Bank of Richmond: Hardy, Caldwell, elected for three years and designated FRAgent and Chairman of Board for 1921 12/21 F. R. Bank of St. Louis: Boehne, J. W., elected for three years and designated Deputy Chairman of Board for 1921 12/21 F. R. Bank of San Francisco: Elliott, Edward, resignation 11/30 Perrin, John, elected for three years and designated FRAgent and Chairman of Board for 1921 12/21 Sproule, William, nominated to succeed Edward Elliott 12/21 Directors: (National Bank) Letters to, acting in violation of Clayton Anti-Trust Act 9 / 7 Opinion of Deputy Gov. Harrison that private bankers may serve as,when their banking concerns are not in substantial competition with such banks 8 /4 page 978 1031 1036 1031 305 1031 79/ 1031 1031 1031 1036 1031 1 1031 1031 96Z 1031 1030 748 669 Page Discount Rates: Adverse effect of increased, upon purchases of Government obligations; complaint from Frank S. Upton of Charlotte, 8 /19 New York re, and reply of Governor F. R. Bank of Atlanta: Flat rate of 7% approved on all commercial, industrial, and agricultural paper, including member bank 15-day 10/28 collateral notes n for re of, tion suspensio Progressive rates; communica 8 /31 stated period; Board not favorable by in, submitted Progressive rates; proposed change 9 /21 Bank on in progressi for reduction request Progressive rates; to aL, and discontinuance in applying, to of, from 9 /14 loans on commodity paper; no action 8 10/2 1st. November n of, suspensio Progressive rates, enwhen es, acceptanc bankers' on approved Rate of 10/28 dorsed by member bank other than accepting bank inbills, d discounte on approved 6;, 7 and Rates of 5:b, cluding member bank 15-day collateral notes secured by Treasury certificates bearing same interest rates 7 / 1 9 /29 Schedule at; letter from Chairman re, : F. R. Bank of Cleveland 9 /29 Certain changes in, approved F. R. Bank of Chicago: approved on discounted bills,including and Rates of 5 member bank 15-day collateral notes secured by certificates of indebtedness bearing same interest 7 /13 rates F. R. Bank of Dallas: Liinimum rate of 5;; approved on discounted bills,including member bank 15-day collateral notes secured by certificates of indebtedness bearing equal rates of in7 /13 terest F. R. Bank of Kansas City: Basic rate for commercial and agricultural paper; 11/ 4 to Tp,at discretion authorized to increase from bonds by Liberty Rate of 6,; approved on notes secured 9 /27 and Victory notes on of, recommended by Executive Committee Rate of loans secured by Liberty bonds limited to market value of bonds; Board prefers recommendation from Board 9 /21 of Directors F. R. Bank of New York: Effect of increased; favorable comment from Acting Gov. 8 /25 of Bank re, 701-2 885-6 733 780 766 885 886 590 793 793 618 618 900 787 778-9 712 YaKIV Page Discount Rates: (continued) F. R. Bank of Philadelphia: Rates of 5-3'.;; and 6;. ; ; approved for discounted bills, including member bank 15-day collateral notes secured by Treasury certificates bearing same interest rates 7 / 1 Resolution, Board of Directors,disappraving change in discount rates on member banks collateral notes 7 /14 F. R. Bank of Richmond: Rates of 5 and 6;; approved for, against U. S. certificates of indebtedness bearing those rates,with minimum rate of 5,72. against paper secured by other U. S. certificates of indebtedness 7 /20 F. R. Bank of San Francisco: Rate of 6% approved on bankers' acceptances 7/6 Rates of 5 and 6% approved on discounted bills, including member bank 15-day collateral notes secured by certificates of indebtedness bearing same rates 7/8 Methods of aBanks in applying progressive; memo. of Counsel, with proposed letter to FRBanks re, 9/8 Oregon; proposed amendment to constitution of, to establish maximum discount and interest rates at 5;;; memo. of Counsel lo/ 5 Favorable report by Mr. Hamlin on memo. 10/12 Mimeograph copies of memo. ordered furnished conference of Governors and FRAgents 10/12 Proposed amendment to Act whereby 5„; shall be maximum rate at all FRBanks; letter from Board to Senator McLean expressing views re, 12/16 '7uestiorraire sent national banks re rates on loans to customers; summary of replies to, reported by Comptroller, with suggestion for reduction in certain discount rates 8 /26 Statement by Governor disapproving reduction in discount rates until after moving of crops 8 /26 Readjustment of basic, at FRBanks having 6',;,; rate, with exception of Banks rediscounting for others, made special order for Nov. 16th. Matter discussed /104 / Tabled 11/18 Requests for charges in certain, prior to next stated meeting of Board; statement by Gov. re; authorized to approve 7/2 Discounting: Agricultural paper; telegram signed by various Senators & Representatives of Georgia re misunderstanding as to Board's recent statement re, 10/20 Commission merchants, discounting of paper of, by FRBank of N. Y.; Board to take up'matter with the MBank 12/14 586-1 628 635 608 608 754 0.2-1 83 833 3.oz 721 ) 722 8 98 2: 932 59 862 io06 Page Discounting: (continued) Eligibility for discount by RBanks of acceptances for 7/2 building material; letter from M. Morgenthau, Jr., re, 7/2 Reply of Governor Dividends: F. R. Bank of Atlanta: Authority to mail dividend checks to member banks prior 12/21 to December 31, 1920, granted 12/28 Dividend for six months period,July - Dec., 1920 F. R. Bank of Chicago: 12/21 Authorized to declare usual dividend F.R. Bank of Cleveland: 12/16 Dividend for six months period, July - Dec., 1920 F.ii. Bank of Dallas: 12/15 Dividend for six months period ending Dec. 31st., 1920 F.R. Bank of New York: 12/23 Dividend for six months period ending Dec. 31st., 1920 F.R. Bank of Philadelphia: 12/ 9 Dividend for six months period ending Dec. 31st., 1920 F. R. Bank of Richmond: 12/15 Dividend for six months period ending Dec. 31st., 1920 F.R. Bank of St. Louis: 12/28 Dividend for six months period ending Dec. 31st., 1920 Division of Analysis & Research: Letters from Director of, re Renewal by Board of subscription to Robert Morris Associates, 11/12 recommending; approved to of, secure Director by requested annum per ;200 of Payment 11/11 information in England of importance to Board; approved Dollar Exchange: Australia and New Zealand: Opinion of Directors of FRBanks of Boston and New York requested in re acceptance by national banks of drafts 12/22 for creating in, Central Union Trust Co. of New York City granted permission 10/21 to accept for purpose of creating, in Brazil Chase National Bank of New York City granted permission to accept for purpose of creating, in certain foreign countries10/5 Corn Exchange Bank of New York City granted permission to accept for purpose of creating, in certain foreign countries9/14 First Federal Foreign Banking Association granted permission to accept for purpose of creating, in South and Central 9 /29 America, and Cuba First National Bank of Boston; application of, for permission to accept for purpose of creating dollar exchange in 11/11 Australia; action deferred accept to permission granted of Boston Bank First National 7/2 for purpose of creating, in certain foreign countries 591 591 1035 1056 1039 1024 1018 1050 991 1017 1056 922 919 1045 865 810 763 796 918 591 Page Dollar Exchange: (continuedl Harriman National Bank of New York City granted permission to accept for purpose of creating in Argentina and Brazil 8 /18 Lincoln Trust Co. of New York granted permission to accept for purpose of creating, in Argentina, Peru, and Chile 7 /27 National Bank of Commerce, New York City; application of, for permission to accept for purpose of creating dollar exchange in Australia and New Zealand; action deferred 11/30 Docketed for Dec. 3rd. 12/ 2 Matter postponed 12/ 3 Opinion of Counsel re, 12/ 7 Park Union Foreign Banking Corporation of New York granted permission to accept for purpose of creating, in Venezuela 11/16 Drafts: Collection of bill of lading, received direct from nonmember bank for credit to account of member bank; letter to FRBanks in re, 8/11 Eligibility for acceptance by member bank of, originating in Sweden; ruling re, requested by Mr. Kenzel of New York II/ 9 Opinion of Counsel re above; letter to Lir. Kenzel containing, 11/ 9 Eligibility of, drawn against banks, members of syndicate to grant acceptance credits for financing export of commodities actually under contract; ruling re,requested by Hibernia Bank & Trust Co. of New Orleans 9/ 7 Reply of Gov., disapproving as ineligible 9/ 7 Revised draft of reply by Counsel, approved 9/9 Revised plan; letter covering, from Hibernia Bank & Trust Co. 9 /17 Eligibility of draft, drawn by cotton grower and accepted by cotton factor selling cotton for grower, proceeds to be used for agricultural purposes; Board's reply to Richmond re, 8 /26 Limitation on, drawn by foreign governments; letter from Gov. Harding to Liberty Nat. Bank of N. Y. City re, 10/19 Copy of above letter ordered furnished Comptroller of Currency & Chairman of FRBank of New York 10/19 Right of member bank to accept, drawn payable in foreign countries and currencies, and if eligible for rediscount and purchase by RBanks; letter from Treasurer of P. N. Gray & Co. re, 10/ 5 Draft of reply and memo. by Counsel lo/ 5 Matter referred to Gov. for reply lo/ 6 Duplex wire circuit between FRBans of St. Louis and Chicago, approved upon recommendation of Mr. Emerson 11/ 5 698 650 963di 970 974 979 929 678 1 912 913 751 751 760 770 , 720 857 857 810 810 820 901 Page Eddy, Walter L. Appointment and salary as Assistant Secretary of F. R. Board Continued as Deputy Fiscal Agent and arrangements made for bond Salary increased as Assistant Secretary Edge Act: Applications of national banks for permission to purchase stock in corporations organized under; memo. of Counsel re method of handling, Certain national banks authorized to purchase stock in corporations organized under, (See auxiliary minute book, of date) Corporation organized by Jouthern bankers under; suggested names for, Desirability of organizing corporations under; letter from Chadbourne, Hunt & Jaeckel of New York City re, Reply of Governor Editorial in Richmond Times Dispatch: ' See under "Richmond Times Dispatch, Emerson, Robert G., Assistant to Governor: Appointment and salary as Assistant to Governor Memorandum of, re purchase by Dallas,for employees, of Liberty bonds in open market Salary increased Employees, F. li. Board: To be relieved from work at one o'clock, Dec. 24th. and 31st. England: Securing of information in, of importance to Board; 12200 per annum authorized by Board to cover cost of, Equipment for Printing F. R. Notes: Draft of letter to RBanks re, and re assessment of cost thereof, Legality of FRBanks providing Treasury with funds for purchase of additional; opinion of Counsel Letter from FRBank of Atlanta re, Letter from MBank of New York re handling on their books of funds set aside for purchase of, Letter from FRBank of Philadelphia re, Letter from FRBank of Richmond re, Equitable Eastern Corporation: 'Form of agreement between, and RBoard, under Section 25 of FRAct; copy of, sent Murray, Prentice and. Howland of New York City Erie Railroad Co. Loan of $8,000,000 to, approved upon recommendation of Railway Loan Advisory Committee 10/14 841 11/ 9 12/23 914 1051 12/14 1006 12/14 1006 11/ 8 906-7 7 /29 7 /29 660 660 10/12 831 11/30 12/23 961 1051 12/23 1047 11/11 919 11/18 937 11/ 4 12/ 7 900 979 12/ 1 12/ 7 12/ 7 968 979 979 11/1e 933 8 /27 725 Examinations: Chase National Bank of New York City; report by Comptroller on last examination of, by national bank examiners 10/ 5 F. R. Bank of Atlanta: Report of examination of, as of close of business Sept. 11th., submitted by Mr. Herson 10/21 F. R. Bank of Boston: Report of last examination, from Mr. Herson 12/ 7 F. R. Bank of Dallas: Comments from FRAgent Ramsey on report of exAmination of, as at close of business, Oct. 2, 1920 10/30 Report of, as at close of business, Oct. 2, 1920; comments on, from FRAgent Ramsey 10/30 Results of recent, memo. of Mr. Herson re; copy to be sent FRAgent, calling attention to large amount in— volved in mail transfers 10/29 F. R. Bank of Philadelphia: Analysis of report of examination of, as of close of business July 10,submitted by Mr. Paddock 8 /18 F. R. Bank of Richmond: Analysis of report of examination of, as of close of business, July 17, 1920, submitted by Mr. Paddock 8 /19 F. R. Bank of St. Louis: Analysis of report of, as of close of business June 26, submitted by Mr. Paddock 8 /24 International Banking Corporation; report of recent examination of, by national bank examiner Norris 8 /26 Los Angeles banks; advice from Mr. Perrin of arrangements to join State authorities in examinations of large, during next thirty days 11/ 9 Appointments of members of Los Angeles branch to assist examiner Loveland in above 11/ 9 National City Bank of New York: Report re recent exAmination of five European branches of, by national bank examiner Norris 8 /26 Examinations of foreign branches of foreign banking corporationa doing business under agreement with FRBoard; memo. of Mr. Paddock re, 8 /4 Examiners: Federal Reserve: Atkins, J. B., Asst. Examiner, salary increased to 42,700 per annum 10/12 Augherton, G. A., salary increased to 04,000 per annum 7/1 Authority granted Dallas to employ additional , 12/14 Ball, C. H., Asst. Examiner, salary increased to 02,200 per annum 7/1 Beale, J. E., appointment as Asst. Examiner at FRBfInk of San Francisco 7 /20 Page 610 866 983 892 892 668 698 702 708 721 910 910 721 671 836 587 1008 588 639 Page Examiners: (continued) Federal Reserve: Beale, J. E., appointment as Assistant Examiner at 7 /20 FRBark of San Francisco salary to increased Examiner, Asst. Boysen, Alfred, 7/1 „i2,700 per annum salary to Examiner, increased Asst. Boysen, Alfred, 10/12 43,000 per annum to increased 45,000 salary Jr., Buchanan, James, 7/1 per annum salary to Examiner, increased Asst. 13., R. Chamberlain, 7/1 42,800 per annum Chamberlain, R. B., Asst. Examiner, salary increased to 10/12 43,000 per annum 7/1 Chapman, R. id., salary increased to 43,600 per annum Clayton, Russell P., appointment in Second Dist. at 12/ 3 42,400 per annum Cramer, C. H., Asst. Exaniner,salary increased to 10/12 43,000 per annum Cramer, Charles H., Supervisor of Examination Section 11/24 of Div. of Examination; resignation Drinnen, Frank J., Asst. Examiner, salary increased to 7/1 43,000 per annum Gordon, P. A., Asst. Examiner, salary increased to 7/1 43,600 per annum Griffin, Herman, appointment as Assistant Examiner with 10/ 5 FRBank of San Francisco Grund, V. J., Asst. Examiner, salary increased to 43,800 7/1 per annum 12/23 Grund, V. J., designated F. R. Examiner Hageman, F. W. L., appointment at Cleveland at 44,000 12/14 per annum 7/1 annum Hamilton, G. L., increase in salary to 45,000 per /3 8 Hamilton, George L., resignation. to Harrington, T. J., Asst. Examiner, salary increased 10/12 43,600 per annum to salary increased Herson, J. F., Chief Examiner, 7 /22 49,000 per annum salary to increased Herson, J. V., Chief Examiner, 12/23 410,000 per annum for examiner of Kansas FRBank Judy, R. Roe, appointed 9 /29 City at 43,000 per annum 43,000 Kooman, Arthur J., appointed Asst. Examiner at 9/ 7 per annum Kraft, A. R., Asst. Examiner, salary increased to 7/1 43,000 per annum 9/ 7 Kraft, A. H., resignation 639 588 836 587 588 836 587 973 836 956 588 588 814 588 1048-9 1011 587 667 836 647 1051 798 749 588 749-50 XL Examiners: (continued) Federal Reserve: Locker, Warren, designated Asst. Examiner at Phila. 8 /17 Morton, Claude, Asst. Examiner, salary increased to 43,000 per annum 7/1 Noel', J. O., Asst. Examiner, salary increased to 43,300 per annum 7/1 Prickett, K. E., Asst. Examiner, salary increased to 42,700 per annum 10/12 Reeves, Maurice, salary increased to $3,500 per annum 11/22 Salary adjustments of examining farce for 1921 12/23 Schopp, A. J., Asst. Examiner, salary increased to 42,100 per annum 7/1 Schopp, Arthur J., resignation as stenographer with examining force 9 /29 Wiltse, R. B., appointment as Asst. Examiner at 42,700 per annum 8 /13 National Bank: Changes in force during June; list of, 7/ 7 Changes in force during July; list of, 8/3 Changes in force during August; list of, 9/ 7 Changes in force during September; list of, 11/ 9 Changes in force during October; list of, 11/ 9 Changes in force during November; list of, 12/ 7 Idulloney, Daniel O., copy of letter from, to Comptroller, from Bogota, Columbia, submitted 11/16 Uulloney, Daniel C., letter from, to Comptroller, re conditions in South America, with particular reference to branches of Mercantile Bank of the Americas 11/12 Norris, Frank L., confidential letter from, to Comptroller, re financial and commercial situation in Cuba 11/19 Salaries of National Bank: Albert, Harry E., salary increased to 44,200 per annum 9 /29 Armstrong, G. E., salary increased to 44,800 per annum 9 /29 August, Russell T., salary approved at 42,400 8/3 August, Russell T., salary increased to 42,700 per annum 9 /29 Baker, William B., salary increased to 44,000 per annum 7/2 Bean, Norwin S., salary increased to ?4,200 per annum 9 /29 Bergman, H. C., Jr., salary increased to 42,700 per annum 9 /29 Best, John A., salary increased to 43,900 per annum 9 /29 799 668 799 591 799 800 799 aI Page Examiners; (continued) Salaries of National Bank: (continued) Bing, Ashley E., salary approved at 42,400 per annum Borden, Daniel C., salary increased to 45,500 per annum Borden, Daniel C., salary increased to 6,000 per annum as Acting Chief Examiner, Second District Brewer, Henry F., salary approved at 42,400 per annum Brooks, Roger E., salary increased to 43,300 per annum Brown, Charles V., salary increased to 43,300 per annum Brown, Fred, Chief Examiner, salary increased to 48,500 per annum Buckles, gard U., salary increased to 44,800 per annum Carson, Thomas B., Fifth Dist.,salary approved at 42,400 per annum Cloe, Wm. B., salary increased to „3,600 per annum Coffin, George U., salary increased to „4,200 per annum Congdon, Sidney B., salary increased to 44,800 per annum Cook, Reuben R. R., Eleventh Dist., salary approved at 44,000 per annum Cooney, Dan H., salary increased to 43,000 per annum Cooper, T. A., salary increased to 43,900 per annum Crocker, Sherwood, salary increased to 44,500 per annum Dalton, John W., salary increased to 43,000 per annum Davenport, Henry B., salary increased to 43,500 per annum Davis,Thomas H., salary increased to 43,600 per annum Doughton, J. K., Chief Examiner, salary increased to 48,500 per annum Du Bois, Nathan S., salary increased to 43,000 per annum Evans, Clyde J., Sixth Dist., salary approved at 42,400 per annum Fair, William E., Twelfth Dist., salary approved at 4,600 per annum Finney, R. Gordon, Supervising Examiner, Fifth & Sixth Districts; salary increased to $6,000 per annum Folger, dilliam p., salary increased to 43,000 per annum Funsten, James B., Jr., salary increased to 43,000 per annum Gaither, H. R., Chief Examiner, salary increased to 49,000 per annum Goodell, George Ti., salary increased to .J4,800 per annum Gough, E. H., salary increased to 45,000 per annum Gough, E. H., salary increased to 45,500 per annum 8 /11 9 /29 680 799 10/15 9 /29 9 /29 846 731 799 799 9 /29 9 /29 799 800 11/ 3 9 /29 9 /29 896 799 799 9 /29 799 10/14 11/ 3 9 /29 9 /29 9 /29 843 896 799 800 799 9 /29 9 /29 799 800 9 /29 799 11/ 3 896 12/ 9 990 12/21 1041 a /31 1 739 9 /29 800 8 /24 710 9 /29 799 9 /29 9 /29 11/10 800 800 916 9/ XLII page Examiners: (continued) Salaries of National Bank: (continued) Gray, Wm. Id., salary increased to 44,200 per annum 9 /29 Griffin, 0. A., salary increased to 3,300 per annum 9 /29 Griffey, James L., salary increased to 44,200 per annum 9 /29 Hackney, JilliamW., Tenth Dist., salary approved at 42,400 per annum 12/21 Haneke, Edward C., salary increased to 43,900 per annum 9 /29 Hargreaves, R. L., salary increased to 45,000 per annum 9 /29 Harkin, D. V., salary increased to 46,500 per annum 9 /29 Hayes, Ben, Jr., salary increased to 44,200 per annum 9 /29 Hodgson, R. M., salary increased to 43,900 per annum 9 /29 Hoffron, L. W., salary increased to4,500 per annum 9 /29 Huddleson, Harry P., Fifth Dist., salary approved at 43,600 per annum 12/ 7 Hutt, William:E., salary increased to 44,000 per annum 9 /29 Jernegan, E. S., salary increased to 44,200 per annum 9 /29 Joseph, Edward M., Seventh Dist., salary approved at 42,400 per annum 12/21 Kelly, Burdett, salary approved at 03,000 per annum 9 /15 Kelly, Burdett, salary approved at rate of 41,458.33 per month while examining Cuban and Porto Rican branches of National City Bank of New York 11/ 6 Certain modifications in letter to Comptroller re above, approved 11/11 Kennedy, Joseph L., salary increased to ;',i5,000 per annum 9/1 Klein, Benton, salary approved at 42,400 per annum 11/ 3 Lamb, Ernest, salary approved at 42,400 per annum 12/28 LaRoque, 0. K., salary increased to 0,600 per annum 9 /29 McBryde, -;1. W., salary increased to 43,300 per annum 9 /29 McOlerkin, Granville Li., salary approved at 43,300 per annum 8/3 =Pike, Ben M., salary approved at 42,400 per annum 9 /29 Machen, Harry L., salary increased to 46,500 per annum 10/26 Mann, Stuart H., appointment at 42,400 per annum 11/11 Montgomery, Robert, salary increased to 43,900 per annum 11/3 Moon, Earl W., salary approved at 42,400 per annum 10/27 Moore, Samuel A., salary approved at 43,000 per annum 8/3 Murphy, David, salary increased to „0,000 per annum 9 /14 Newnham, Stephen L., Chief Examiner, Third District, salary increased to 410,000 per annum 9 /14 Norris, Frank L., continuation of salary at rate of 42,500 per month for 21 days after return from 1;urope, requested by Comptroller; no action 10/28 Draft of letter by Gov. Harding re above; matter postponed 11/ 9 Explanation by Deputy Comptroller Kane re complication which has arisen re passing of account of Mr. Norris by Auditor of Treasury; Comptroller 11/12 advised certain procedure necessary re, 800 800 ' 800 1041 799 800 800 800 800 800 1 i 11 984 799 800 1041 768 i i 903 919 739 1 896 1059 800 800 667 799 876 916 896 882 667 766 766 885 910, 921 page Examiners: (continued) Salaries of National Bank: (continued) Norris, Frank L., salary approved at rate of 41,833.33 per month while examining Cuban and Porto Rican 11/ 6 branches of Yational City Bank of New York Certain Modifications in letter to Comptroller 11/11 re above, approved 11/10 annum at per 42,400 approved salary G., Frank Paden, 9 /29 annum to per 44,200 increased salary F., Edward Parker, /31 8 annum per at 43,000 approved salary R., William Parker, 9 /29 Partridge, Paul, salary increased 40 44,200 per annum /29 9 annum per to 44,000 increased salary B.K., Patterson, /29 9 annum per 44,000 to increased salary L., J. Penix, 9 /29 annum Robb, Ellis D., salary increased to 45,000 per Roberts, L. K., Chief Examiner, salary increased to 9 /29 47,000 per annum 9 /29 annum Roberts, W. C., salary increased to 45,000 per per 44,200 Sawyer, John T., Jr., salary increased to 9 /29 annum Schechter, W114 J., Chief Examiner, salary increased 9 /29 to 47,500 per annum 9 /29 annum Scott, H. W. , salary increased to 45,000 per 7 /27 annum Sheetz, John W., salary approved at 42,400 per 8 /12 annum per Shively, Edwal F., salary approved at 42,400 /29 9 annum per Sisk, Carl M., salary increased to 44,500 annum 11/18 per 44,200 Smith, Clarence F., salary increased to 11/ 3 Smith, George H., salary increased to 42,700 per annum 9 /29 annum per 43,300 to Snyder, Vernon G., salary increased per to 45,500 to Stearns, E. Willey, salary increased 9 /29 annum per to 43,600 increased salary Stewart, Charles A., 9 /29 annum 7/8 annum per at 42,400 approved salary K., Stuart, Robert 9 /29 annum per to 44,500 increased salary O., Thomas Thomas, 9 /29 annum per $3,900 to increased salary E., Thompson, J. /29 9 annum per 46,000 to increased salary Oscar, Thompson, Trammell, George Id., salary approved at 42,400 per annum 7 /27 Trammell, George M., salary increased to 43,000 per 11/ 3 annum 9 /17 annum per 44,500 at approved salary C., Max Wilde, 9 /29 Williams, R. O., salary increased to :P,300 per annum 9 /29 Wood, D. R., salary increased to 43,900 per annum to increased salary Chief Examiner, S., John Wood, 9 /29 47,000 per annum 10/27 annum per 43,900 to increased salary Hal, Woodside, 7/6 Wright, Irwin D., salary approved at 42,400 per annum /29 9 Young, Wm. R., salary increased to 43,600 per annum State Bank: 11/18 Special rate granted to, for subscriptions to Bulletin 903 919 916 799 731-2 800 800 800 800 799 800 800 799 799 653 684 799 935 896 799 799 800 611 799 800 799 653 896 774 800 800 799 881 599 800 936 IcLIV page Exchange: Dollar: See under "Dollar Exchange" Russian: See under 'Russian Exchange" Expense Reports, F. R. Banks: Branches of F. R. Banks: Uniformity in rendition of current reports; memo. of EVerson re, and letter from Gov. to FRBanks 10/19 F. R. Bank of Atlanta: Item "Contribution towards passage of Negotiable Instrument Act .250 in July report; attention called to, by :Jr. Emerson 9 /22 F. R. Bank of Chicago: Item "Advertising .;047.60" in July report; attention called to, by Lir. Emerson 9 /22 F. R. Bank of Cleveland: Item "Advertising a/c State Bank Membership ,i;620.72" in July report; attention called to, by Lir. Emerson 9 /22 F. R. Bank of St. Louis: Charge to current expenses, of amount assessed against printing of F. R. notes and FRBank notes 12/16 Expenses, F. R. Banks: Unit cost of each department at FRBanks, with comparative compilation; suggestion by 1.1r. Hamlin for employment of outside agency to determine, 11/16 Export Acceptance Credit Contracts: Necessity for revising terms of, particularly contracts of packers; attention called to, by Deputy Gov. Harrison of New York 10/26 Farm Organizations: Granting of hearing to representatives of, by the FRBoard, Agents, and Governors, requested by Senators Smith, Overman and Smith 10/14 Request modified to a hearing before FRBoard; granted, of date, if agreeable to Secretary of Treasury 10/14 Request from representatives of Washington Bureaus of,for statement of Board's policy re assisting farmers in marketing crops 10/12 Farmers: Board's policy for assisting, in marketing crops; letter from representatives of Washington Bureaus of farm organizations requesting statement re, 10/12 Farmers & Merchants 72rust Co. of St. Louis: Authority granted, to reduce reserve requirements from 13,; to 10,; on demand deposits 12/21 Farmers National Bank of Pomeroy, Washington: Advertisement of, purporting to have approval of FRAcent Perrin, submitted by Federal Trade Commission 10/12 353 783 783 783 1024 929 878 840 8401 838 838 103Z 835 XLV Farmers' National Council: Letter from Governor to George P. Hampton of, replying 10/12. to letter received by Secretary of Treasury and data certain of, for Director Eanaging Bequest from 10/21 information re policies of Board Nebraska: Allen, Farmers State Bank of Withdrawal of, from membership in System,approved upon 12/28 certain recommendations from Kansas City Federal Advisory Council: Brown, Joseph G., reelected by Richmond as member of 12/10 Council for 1921 12/21 of, for member 1921 as Atlanta by elected Lane, E. W., member as of,for Chicago by elected J., John Mitchell, 12/21 1921 Resolution of FRBank of Atlanta in re election of future 12/21 medbers of, 9 /22 Response from, to questions of FRBoard Suggestion by Mr. Miller that members of, be requested to furnish monthly reports of business conditions in 10/21 several districts for confidential use of Boari Topics for next meeting of, Nov. 15th.; letter from 10/26 President Forgan re, and Governor's reply Federal International Banking Co. Articles of association and organization certificate of, 12/29 approved, together with proposed press statement for corporation days, thirty for of, title of Reservation 11/30 to be organized under Section 25(a) of ERAct Federal Reserve Act: Amendments to, Draft of bill to amend Section 24, Sub-Section (a), and 12/21 Section 19 McLean-Platt amendment to Section 25; letter from 12/23 Gov. Harding to Senator McLean re, Proposed amendment re extending limit on agricultural paper; letter from Board to Senator McLean expressing 12/14 disapproval of, Proposed amendment to Section 11, Sub-Section (c); ref. 11/23 to Mr. Hamlin 11/24 Approved by Mr. Hardin,subject to slight change Proposed amendment to Section 11, Sub-Section (m); ref. to Ur. Logan for incorporation of provision re State 11/23 member banks Section 7; letter from Gov. Harding to Senator McLean 12/23 re Senate bill 4665 designed to amend., Views of Board re proposed amendment whereby 5:4 shall be maximum discount rate at all RBanks; letter to 12/16 Senator McLean expressing, Extension of provisions of Section 11(m) of,memo. of Counsel re; Board voted to recommend extension of year to 11/ 4 Congress, from Jan. 1, 1921 838 867 1055 996 1036 1039 1035 785 867 876-7 1061 960 1031 1050 1005 952 956 953 1050 1022 897 XLVI Page Federal Reserve Act: (continued) Interpretation of Section 13 re limit to accepting drafts by member bank from any one customer without special security; letter from Deputy Gov. Harrison 7 /27 Reply of Gov. Harding 7 /27 Violation of provisions of Section 22 of, by a member bank; telegram from San Francisco and reply of Gov. 8 /26 Federal Reserve Agents: Assistants to, Gardner, H. H., appointment as Acting Asst. FRAgent at Detroit branch 9/ 7 Conference between, and FRBoard and Governors, called for October 13th. 8 /17 Conference of, with Governors, in Board's assembly room, Nat. Metropolitan Bank Bldg., on October 13th., authorized 10/12 Dinner to, and Governors, Oct. 14th., authorized 10/12 Instructions to, suggested by Mr. Miller, re monthly reports on business conditions 9 /17 Letters to, from Board, re Interlocking directorates as covered by Clayton Act and Kern amendment thereto, with questionnaire for answering in detail 11/19 Preparation of annual reports; referred 11/12. Above approved 11/15 Russian exchange and importation of Russian paper currency; to be submitted to Treasury Dept. for approval 8/3 Re—designation of certain, for 1921 12/24 Report of special committee of, on Public Relations work and monthly reports of business conditions, submitted by FRAgent Jay to Board 11/29 Report of committee of Board re, approved 12/ 2 Wills, D. C., Cleveland; resignation 9 /29 F. R. Bank Notes: New designs for, and for F. R. notes, submitted by Asst. Secretary of Treasury 12/ 9 Treasury Dept. to be advised proposed forms satisfac— tory to Board with certain minor changes 12/ 9 Progress made by Treasury Dept. toward increasing supply of, and of F. R. notes 12/14 Revisions of legends on; letter from Asst. Sec. of Treasury Gilbert re; matter ordered topic for conference of Govs. and FRAgents, Oct. 13th. 10/ 5 Draft of letter by Counsel to Govs. & FRAgents re above 10/12 Special division of Board to count, in lieu of service now rendered by A. S. Pratt & Sons; estimate of cost of maintaining, 8 /31 654 654 718 748 689 838 638-9 776 941 921 925 661 1052 958 970 791 992 993 1007 811 836-'1 732 XLVII Page F. R. Bank of Atlanta: Advisory Council; resolution re future election of 12/21 members of, the by, from borrowings large Bank, National Atlanta 12/ 2 MBank; letter re, Bonus: 12/14 Payment of, authorized /21 12 Dec. 10thdirectors, by adopted re, Resolution 11/18 of, 1 3, Section Article to amendment of; By-laws Campbell, J. L.; letter from Gov. Wellborn re proposed 11/24 election of, as Deputy Governor 12/23 Charge offs, at close of business Dec. 31, 1920 Conditions at; report by Gov. Harding re, as result of 10/11 visit of himself and Ur. Wills to the FRBank 11/24 Deputy-Governor; J. L. Campbell proposed as, 12/21 Notice of election Directors: See under heading "Directors" Discount Rates: See under heading "Discount Rates" 12/21 Dividend checks to member banks, mailing of, Dividend for six month period, July - Dec., 1920, at 12/28 rate of 6;; per annum 7 12/ re, Bank Equipment for printing F. R. notes; letter from 11th., Sept. Examination, report of, as of close of business 10/21 submitted by Ur. Herson Negotiable Expense item "Contribution towards passage of Instrument Act ,,t250" in July report; attention called 9 /22 to, by Mr. Emerson of charge Treasury Fiscal agency department, proposed Dept. for space occupied by; letter from Asst. Sec. of 9/2 Treasury Gilbert for FRBanks of reimbursement Opinion of Counsel re expenses in conducting fiscal agency departments for U. S. Treasury, and letter from Gov. Harding 9 /14 to Asst. Sec. of Treasury Gilbert conin work for to, 45,000 Counsel; of payment General nection with par remittance case pending in court, 11/18 approved 12/21 as, Hollins Randolph N. of re-election Counsel; General Lane, E. d., elected as member of Federal Advisory Council 12/21 for 1921 Legislature of Georgia, probable calling of special session of, for enactment of law providing twelve months stay,or moratorium, in State; telegram from Board to Bank re 12/ 2 press item re, Loans on cotton; inquiry from Bank re establishment of special rates for, held in particular warehouses; 8 /17 approved, if no objection by General Counsel 8 /19 1:latter referred to Gov. for submission of reply 1035 969 1007 1035 935 957 1049 821 957 1035 1035 1056 979 866 783 743 763 935 1036 1036 972 692 703 F. R. Bank of Atlanta: (continuedl Loans to member banks on paper secured by Govt. war obligations; letter from FRBoard defining views re policy as to, 7 /15 Officers; election of, for Bank and branches 12/21 Packers' paper; letter from Gov. Harding to Gov. dellborn re treatment of, by FRBank 8/3 Randolph, Hollins N., General Counsel, payment of 45,000 to, for work in connection with par remittance case pending in court, approved 11/18 Rediscounts; letter from Board re resolutions recently adopted by Cleveland limiting, 12/16 Report by idr. 7i11s re visit to, 10/26 Salaries: Adjustments in; authority requested to make certain, 12/14 Adjustments in, recommendations re, 12/21 Increases in, of employees of FRAgent's Dept. of Bank and branches 7/6 Security Sales Co. of New Orleans, application for approval of its acceptances for purchase by FRBanks 10/19 Shortage of 45,000 in Currency Dept.; developments re investigation into, 8 /31 Staff: Campbell, J. L., elected Deputy-Governor 12/21 F. R. Agent's Dept., additions to, with salaries 12/ 7 Randolph, Hollins N., re-elected General Counsel 12/21 Tutwiler, J. B., elected as additional Asst. Cashier 12/21 State banks; request from the FRBank for Board's opinion in re inducing, to enter System 11/22 F. R. Bank of Boston: Bonus: Certain recommendations re, from Chairman of Bank 12/ 9 Recommendations re payment of, to employees,approved 12/14 Chamber of /14;ommerce of Boston; FRBoard not favorable to Bank subscribing as Class "A" member of, but no objection to individual in Bank assuming membership 10/19 Deputy Governor; appointment of W.. W. Paddock as, at 412,000 per annum 8 /31 Directors: See under heading "Directors" Dollar exchange in Australia and New Zealand; opinion of Directors of Bank requested re acceptance by national banks of drafts drawn for creating, . 12/22 Examination of; report of last, from Ur. Herson 12/ 7 Lir. Platt requested to visit, by ERBoard, for purpose of meeting Directors 8 /17 Paper representing loans to motor transportation company, eligibility of; views of Board re, in letter to Gov. 1,:orss 12/ 7 631 1035 665 935 1023 875 1007 1036 600 857 730 1036 983 1036 1035 946-1 991 1004 854 730 1046 983 694 982 XLIX Page F. R. Bank of Boston: (continued) Par clearings, pamphlet to be issued by Bank re; copy 11/19 sent FRBoard Narters: Shipments of structural steel for new bank building; 8 /31 Interstate Commerce Commission to provide cars for, by building; explanation new Vault being erected in Gov. Morss of attitude of Bank toward certain recom12/10 mendations for changes in, of Directors views building; new Vault being erected in of Bank re suggestions involving changes in con12/11 struction of, Bank to write requested be to Architect Consulting modifying letter previously written re vault 12/11 changes FRBoard from letter building; new in n constructio Vault 12/14 stating its position re, Vault construction; question re, referred to Gov. 12/14 Harding with request that he prepare letter s") "Rediscount heading under also (See Rediscounts: For Dallas, of member bank promissory notes secured by government obligations, the latter accepted by Dallas 7/ 7 at face, rather than market, value; letter re, Relations with ERBank of Dallas, particularly in re rediscount of customers' notes secured by Govt. 8 /18 obligations; letter from Gov. Morss Salaries: Adjustments in; recommendations re, from Chairman 12/ 9 of Bank 12/14 recommended in, Adjustments 10/26 Secretary of; appointment of Krickel K. Carrick as, Staff: Carrick, Krickel K., appointment as Secretary of Bank 10/26 7 /27 Carrick, Krickel, appointment at 45,000 per annum Macalister, Frederick L., appointment at 42,400 per 7 /27 annum Paddock, dillimmW., appointment as Deputy Gov. at 8 /31 412,000 per annum Textile trade in First F. R. District; correspondence between Federal Trade Commission and Dr. H. P. Willis in re dupliCation of effort in securing statistics re,7 /29 Vault Construction: Explanation by Gov. Morss of attitude of Bank toward certain recommendations for changes in vault for new 12/10 building Bank; of new in re, building position Board's R. F. 12/14 letter from Gov. Harding to FRAgent stating, 941 732 998 1002 1002 1016 1005 605-6 698-9 991 1004 875 875 653 653 730 659 998 1016 F. R. Bank of Boston: (continued) Vault Construction: (continued) Question of, referred to Gov. Harding, with request that he prepare letter re, 12/14 Views of directors of Bank re suggestions involving changes in construction of vault for new building 12/11 Consulting Architect to be requested to write Bank modifying letter previously written in re vault changes 12/11 Vulnerability of, reported by Consulting Architect Trowbridge 11/15 Copy of letter from Gov. Morse to Mr. Trowbridge re, 11/22 F. R. Bank of Chicago: Acceptance credits, Board's suggested farm of indemnity agreenent for; letter from Bank re, 11/18 Bonus: Payment of, to employees, for fourth quarter, 1920 12/ 7 Payment of, to officers and employees receiving 46,000, or less 9 /22 Building Committee of, to be granted hearing by RBoard on October 22nd. 10/19 By-laws, amendment to, and proposed new organization chart 12/22 Committee report re, concurred in 12/29 Charge off, as of Dec. 31st., of assessment for purchase of additional equipment for printing F. R. notes and F. R. Bank notes 12/14 Contributions to financial papers by members of FRAgent's reportorial staff; Board's views requested re, 9 /29 Credit conditions in district; report from Mr. Wills re, 11/8 Deficient reserves; establishment of progressive penalty rates for, authorized 12/16 Dividend, declaring of usual, 12/21 Duplex wire circuit between, and RBank of St. Louis 11/ 5 Executive Committee of Bank: List of directors to serve on, for 1921 12/22 Expense item "Advertising 0847.60" in July report; attention called to, by Mr. Emerson 9 /22 F. R. Club of; appropriation of 08,000 for, to be devoted to educational purposes 12/30 Functions and operations of .6RSystem; inquiry if good policy for representatives of ERBanks to go before public to enlighten it re, and correct false impressions 9 /17 Matter referred to Governor for reply 9 /21 Interest rate of 52,7 ) paid by St. Joseph Valley Bank of Elkhart, Indiana, on deposits; letter from FRBank re, enclosing advertisement 10/19 1008 1002 1002 925 947 937 982 784 856 1048 1060 1008 795 905-6 1024 1039 901 1044 783 3.066 775 780 854 LI Page F. R. Bank of Chicago: Letter from VT. F. McLallen of, setting forth several 910 11/ 9 matters not previously disposed of, Librarian: Elliott, (Miss) Julia, temporary employment at rate of 885 10/28 44,200 per annum of Advisory Federal member Mitchell, John J., elected 1039 12/21 Council for 1921 granted n s; permissio condition Monthly report of business FRAgent to show in, per cent of borrowings by member 601 7/6 banks by States in district to basic line 12/22 1043 new Organization chart, proposed 12 2 1060 / 9 in concurred Committee report re, organized newly of ons applicati upon acting Policy of, in 789 9 /28 banks for admission to System; letter re, in on corporati of formation of of, Prevention by Counsel 684 8 /12 Illinois with title "Federal Reserve Securities Co." from letter of; s operation building re s public statement 901 11/ 5 Secretary =alien re, and reply of Governor Quarters: Plans and estimates for erection of new building approved, 10/22 869-70 and making of contracts authorized l additiona and in, changes certain ion; Vault construct 1057 12/28 expenditure for, 4700,000 at for, contract of letting ion; construct Vault 898-99 11/ 4 to York Sage & Lock Co. member in bald deposits Canadian special upon Reserve 936 11/18 banks; letter from Gov. Harding to Bank re, ve of progressi ment establish ; deficient , Reserves 1024 12/16 penalty rates for, authorized Salaries: Payment of, to employees who are members of National 797 Guard while an annual encampments of Guard,authorized 9 /29 Special committee on State bank membership; Mr. Vogel 1044 12/22 appointed member of, while Student killed by private policeman in employ of, 906 11/ 8 off duty; payment of 43,000 to next kin of,approved 1st.; Nov. Sub-treasury functions, assumption by Bank of, 817 10/ 6 letter from Gov. McDougal re, of Transfer of sub-treasury functions to &Banks; reply 595 7/6 BAnk to Board's letter of June 26th. re, Dept. Treasury certificates, advance of funds to Treasury 962 11/30 against 2; letter from Gov. McDougal re, 966 1 12/ Matter docketed for Dec. 3rd. Ur. Miller reported interview with Secretary of 970-1 12/ 2 Treasury re, Submission of draft of letter to Secretary of Treasury re policy of Treasury Dept.,also letter to Governors 974 12/ 3 and FRAgents LII F. R. Bank of Chicago: (continued) Vault construction; changes in, and additional expenditure for, 12/28 Vault construction; letting of contract for, to York Safe & Lock Co. 11/ 4 Visits of FRAgent Heath to conventions of 3tate Bankers' Associations in district; report re, with particular reference to Iowa convention 7/6 F. R. Bank of Cleveland: Acting F. R. Agent; appointment and bond of L. B. Williams as, Oct. 1 - Dec. 31, 1920 9 /30 Bankers' acceptances, propriety of certain, covering domestic shipments of cottonseed oil; letter from Deputy Gov. re, Memo. of Mr. Wills re, with circular letter to FRBanks11/ 9 embodying Board's ruling on subject 11/22 Bonus: Payment of, for quarter ending Sept. 30, 1920 9 /14 Payment of, to employees, approved 12/15 Charge Offs: Additional assessment for new equipment for printing F. R. notes and RaBank notes 12/28 Authority granted Bank to make certain, at close of books Dec. 31st. 12/28 Discount Rates: (See under heading "Discount Rates") Dividend for six months period, July 1 - December 31,1920 12/16 Executive and special committee meetings; fee of 420 approved for directors attending, 9 /17 Expenditure of 42,500 by, for tuition of employees in courses of American Institute of Banking, approved 10/ 5 Expense item "Advertising a/c State Bank Membership $620.72 in July report; attention called to, by Ur. Emerson9/22 Holding of real estate by FRBanks; telegram from Gov. Fandher re, 7 /27 Manufacturers' Record, statements published by; letter from Deputy Chairman Williags re, suggesting securing from American Bankers' Asso. statement endorsing policies, etc., of FRSystem 10/12 Material for use in providing; protection for building of; request from Bank that board apply to Ordnance Dept.for, 12/28 Observance of certain conditions by RBanks rediscounting with; resolutions of Board of Directors re, 11/ 8 Quarters: Authority granted Bank to acquire property adjoining site of new bank building at price not exceeding 4375,000 7 / 7 1057 890 6004 805 913 947 763 1018 1057 1056 1024 773 813 783 652 837 1051 906 601 LIII Page F. R. Bank of Cleveland: (continued) Quarters: Conference re building plans between Gov. Faucher, Deputy Gov. Fleming and BAnk's architects, with ]Board. and 11/18 Mr. Trowbridge, set for Nov. 23rd. Conference held, and various plans and drawings 11/23 exhibited; construction of building authorized Request from Bank that Board apply to Ordnance Dept. for *material for use in providing protection for building 12/28 of Bank s“) (See under 'heading "Rediscount Rediscounts: Salaries: Adjustments in, of employees whose anniversaries of 8 /24 employment occur in August of es anniversari whose employees Adjustments in, of 9 /29 employment occur in September of es anniversari whose Adjustments in, of employees 11/ 3 employment occur in October of es anniversari whose Adjustments in, of employees 12/ 1 employment occur in November 12/21 for, Adjustments in; recommendations effective branches, and Increases in, of employees of Bank 8 ill August 1st. rate at fixed FRAgent as Acting Williams, L. B., salary 9 /30 of t18,000 per annum Staff: 9 /14 Bickford, C. L., appointment as Assistant Cashier 12/15 Secretary Assistant as Chappel, Mr., appointment 12/14 as examiner salary and appointment Hageman, F. W. L., Bank of Manager as appointment Stephenson, G. H., 9 /14 Relations Dept. FRAgent, as Acting bond and appointment B., L. Williams, 9 /30 Oct. 1 - Dec. 31, 1920 by branches and Bank granted functions -treasury Sub 12/21 Treasury Dept. Wills, D. C., resignation as Class "Cfl Director, FRAgent, 9 /29 and Chairman of Board of Directors F. R. Bank of Dallas: Agricultural implement paper; request from Bank for further amplification of Board's circular letter 1-2071 12/ 7 re Amounts State bank members may keep on deposit with non10/15 member banks; ruling requested re, 10/15 Opinion of Counsel and reply of Governor Bonus: Disapproval of granting of, to officers below rank of Deputy Governor receiving salaries above $5,000 7 /14 937-8 949 1057 708-9 794 895 967 1035 681 805 765 1018 1011 765 805 1031 791 981 847 847 628 LW Page F. R. Bank of Dallas: (continued) Bonus: (continued) Payment of, authorized for last two quarters 7 /14 Budget; Bank authorized to add approximately 413,500 to, to defray expense of extras for new bank building 7 /29 Charge off, as of Dec. 31st., of assessment for purchase of additional equipment for printing F. B. notes and iIRBank notes 12/14 Circular letter for sending member banks of district; letter re proposed, 12/ 7 Circular letter for submission to Directors of; tentative draft of, transmitted to Board 12/14 Counsel, employment of additional, 12/14 Credit control, circular covering, to be sent out by Bank 11/23 Currency; report re shortage of 41,000 in shipment of, from El Paso to Washington 11/ 9 Report by Gov. Harding that supposed shortage had been eliminated by discovery of counterbalancing average 11/15 Directors: (See under heading "Directors") Discount Rates: (see under heading "Discount Rates") Dividend for six months period ending Dec. 31st. 12/15 hamination as at close of business Oct. 2, 1920; comments on report of, from FRAgent Ramsey 10/30 Examination; memo. of Mr. Herson re results of recent; copy to be sent FRAgent calling attention to large amount involved in mail transfers 10/29 Expenditure by, of 45,000, authorized for installing re— frigerating plant in new building 9 /29 Expenditure in connection with installation of thermostatic control over heating system in new building,authorized 7 /20 Expenses to be absorbed by, re transportation of subsidiary silver and minor coin to and from member banks 10/21 F. R. notes; shortage of 4500 in package delivered in March, charged to profit and loss 10/19 Forwarding of items by, for collection to Bank of Ranger, Texas; letter from FRBoard censuring action of FRBank in connection with, 7/ 7 Garage; authority granted FRBank to build, at cost of 48,000 7 /29 Liberty bonds and Victory notes; letter re limitation to market value of, offered as collateral security to the rIRBank 12/ 7 Liberty bonds, purchase of, for employees, in open market; memo. of Lir. rson re, 11/30 Loans to member banks on paper secured by government war obligations; letter from FRBoard defining views re policy as to, 7 /15 628 658 1009 980 1011 ' 1 1009 953 910 925 1016 892 888 796 640 865-6 853 607 659 980 961 631 LV Page F. R. Bank of Dallas: (continued) Mail transfers; letter from RIAgent re advisability of 12/14 abrogating, at present time, practice of purchasing Gov. of reply National Bank of Commerce at Houston, Van Zandt to, re Board's indemnity agreement for acceptances Northwestern University School of Law; invitation to FRAgent Ramsey to teach at next summer's session of; 11/24 Board favorable approval for request with submitted, Organization chart of, of certain changes in staff And adjustments in salaries 11/16 11/18 Approved in, changes consequent certain re advice of; Organization upon losses incurred by failure of Bank of Ranger, 7 /20 Ranger, Texas from report District; Eleventh in situation Present 11/12 D. 0. Wills re, 7uarters: Addition to budget to defray expenses of certain extras 7 /29 for new building Additional expenditure authorized for boilers, space for 8 /13 coal, and ash hoist for new building Change in building plans involving additional expenditure 11/ 9 of 42,032, authorized ic control thermostat installing for authorized e Expenditur 7 /20 over heating system in new building plant ing refrigerat installing for $5,000 of e Expenditur 9 /29 in new building, authorized adjoinproperty of n acquisitio in 435,000 of e Expenditur 8 /24 ing site of proposed new bank building, approved 7 /29 Garage; authority granted to build, at cost of 48,000 Houston branch; recommendation for purchase of site for, 10/12 at price not exceeding 480,000 of Linoleum for certain floors of new building; letting 8 /17 contract for, authorized 10/19 Minim= price for sale of present, fixed at 4175,000 ts”) (See under heading Sediscoun )Rediscounts: Salaries: 10/27 Autz, Percy C., Asst. Voucher Clerk, salary increased 7 /22. De Moss, H. B., increase to 4125 per month 7 /22 Doerner, G. H., increase to. 4150 per month Gilbert, R. R*9 appointed Asst. FRAgent at 46,000 per 11/18 annum Asst. FRAgent, salary increased to 46,000 Hall, 11/18 per annum Hermann, J. L., change in record to show salary of, at 8/3 instead of 43,600, per annum Increases in, of certain employees of Bank and branches 10/15 1009 937 955 929 932 639 923. 658 687 913 640 796 708 659 835 692 853 882 647 647 932-3 933 668 846 LVI page F. R. Bank of Dallas: (continued) Salaries: (continued) Increases in, of employees, approved 7 /27 Increases in, of employees, approved, as submitted in letter from Chairman, August 10th. 8 /17 Increases in, of employees of ERAgent's Dept. and of Bank proper 7 /14 Increases in, of employees, requested 10/12 Increases in, of seven employees, at Bank and branches 12/ 1 Increases in, of six employees of Bank and branches 8 /24 Lunpkin, J. L., made Assistant Cashier at 43,600 per annum 11/18 LicRaven, 1. H., salary increased to 4110 per month 9/7 licliulty, (Mrs.) D. W., increase to 4125 per month 7 /22 Richardson, C. J., increase to 4150 per month 7 /22 Tentative report of sub-committee of Bank on; letter from FRAgent Ramsey re, 9 /29 Settlement of claims due on items forwarded for collection by, to Bank of Ranger, Ranger, Texas, failed; letter from FRBoard as to policy re, 7/ 7 Shipmant of mutilated F. R. notes from; letter re shortage in, 8 /24 Staff: Authority requested to make certain changes in personnel and salaries in FRAgent's Dept. 11/16 Counsel, employment of additional, 12/14 Examiners; authority granted to employ additional, 12/14 Ford, W. 0., appointment as Assistant Cashier 9 /29 Gilbert, R. R., appointment and salary as Asst. FRAgent 11/18 Ikard, Mr., transfer of, to Houston branch as Cashier 12/14 Lumpkin, J. L., appointment and salary as Asst. Cashier 11/18 Subsidiary silver and minor coin, expenses re transportation of, to and from member banks 10/21 Theft of 410,000 from vaults of Houston branch; confession of employee responsible 12/ 2 Wills, D. C., Member of FRBoard.; proposed visit by, to Dallas and expenses while there 10/29 F. R. Bank of Kansas City: Attitude of, towards receipts of warehouses established under U. S. Warehouse Act 11/ 9 Automobile Industry; protest from Kansas City Uotor Car Dealers Association against newspaper report of speech by FRAgent discouraging loaning of money to, 8/3 • Reply of Governor Harding 8/3 Bank of Goltry, Oklahoma; recommendation from FRAgent for withdrawal from System 12/14 Withdrawal approved 12/21 Bonus: Payment of additional compensation to employees for 1920 upon same scale as paid in 1919,authorized 12/ 7 653 693 628 834 967 709 933 750 647 647 796 606 707 929 1009 i ' 1008 798, 932—' 1010 933 865°6 970 888 913 665 665 101° 1039 983 LVII Page F. H. Bank of Kansas City: (continued) Branches: Oklahoma City; notice of expected opening of,Aug. 2nd. 7 /20 Charge off, as of Dec. 31st., of assessment for purchase of additional equipment for printing F. R. notes and 12/14 MBank notes • to authorized Wills Mr. paper; al agricultur Commercial and 4 11/ discretion ',at to 0, from for, rate increase basic Conditions In Tenth District, attention called to, by Gov. Miller; Mr. Wills to visit Bank on behalf of 11/ 4 Board Wills from Mr. report district; in conditions Credit 11/ 8 to Board re, reply National banks, expediting of mergers affecting; of Comptroller to Gov. Miller stating procedure neces11/ 4 sary in, , additional Police protection for; letter re maintenance of 9 /28 for temporary period Quarters: Shipments of structural steel for new bank building; 8 /31 Interstate Commerce Commission to provide cars for, g Rediscounting of paper at, for member barks, originatin in, and endorsed by non-member banks; telegram to Mr. 11/ 5 Wills from Board re having carry higher base rate Salaries: Classification of employees, giving minimum and maximum 11/15 salary in each class Pay roll, comparison between, and pay rolls of ERBanks 8 /31 of St. Louis and Richmond Staff: 8 /31 Green, J. M-, employment in Auditing Dept. 9 /29 Judy, R. Roe, Bxaminer, appointment and salary Stock in; letter from FRBoard re application of Picher 7 /14 National Bank of Picher, Oklahoma, for taking Bank re Sub-treasury functions; letter from FilAgent 10/12 over certain, establishbranch; City Telegraph wire between, and Oklahoma ? /20 ment of, authorized to Miller Gov. Harding Wool industry; letter from Gov. 7/20 calling attention to Board's policy re, F. R. Bank of Minneapolis: American Institute of Banking; contribution by Bank for 12/21 entertainment of annual convention of, disapproved Charge Offs: Additional assessment for new equipment for printing F. R. notes and MBank notes; permission granted to 12/28 charge off, Dec. 31st. letter Bank; by Conditions in district and policy adopted 11/30 Agent Rich from 638 1010 900 899 905-6 899-900 789-90 732 902 924 731 732 798 624 833 638 640 1033 1055 961 F. R. Bank of Minneapolis: (continued) Credit conditions in district; circular issued by Bank bearing upon, 9/ 7 Dividend at rate of UIL per annum for period June -Dec. 31, 1920 11/22 Earnings and operation of F. R. System, editorial re, forwarded by lAgent 9 /17 Letter to, from Vice-President of Continental & Commercial National Bank of Chicago re extending accommodations to Banking Corporation of Helena, Montano 7/ 6 Montana; letter from national bank examiner Buckles re financial, commercial and agricultural situation in, transmitted Board 11/19 Pressure felt by, due to demands of sixteen member banks; letter asking if FRAgent is justified in refusing as collateral for F. R. notes rediscounted paper of banks borrowing in excess; Board unfavorable 11/ s Tuarters: Vault construction, request for approval of expenditure of 47,500 for additional, 11/23 Vault for storing silver and minor coin; letter re proposed, 12/14 Rediscounting of an unsecured note for member bank; inquiry from Gov. Young re procedure, in case of, 7 /20 Gov. authorized to reply in line with Comsells opinion of July 19th. 7 /20 Salaries: Geery, W. B., salary approved at 412,000, as Deputy Gov. 8 /11 Increases in, of employees, effective July 1st. 7/6 Moore, B. V., salary approved at „1;5,000, as Cashier 8 /11 Young, (Gov.) R. A., salary increased to 416,000 per annum 8 /11 Staff: Cook, S. S. promotion from Cashier to Deputy Governor 8 /11 Dunlop, F. C., promotion from Asst. Cashier to Comptroller8/11 Geery, W. 3., appointment as Deputy Governor 8 ill Moore, B. V., appointment as Cashier 8 /11 Norton, F. G., promotion from Manager of Discount Dept. to Assistant Cashier 8 /11 Sub-treasury functions; letter from RRAgent re Bank taking over certain, 10/12 Sub-treasury functions, transfer of, to FRBanks; reply of Bank to Board's letter of June 26th. re, 7/6 Vault construction, request for approval of expenditure of 47,500 for additional, 11/23 Vault, proposed, for storing silver and minor coin; letter re, 12/14 Page 748 944 773 601--4 940 907 951 1010 637 637 679 600 679 679 679 679 679 679 679 833 598 951 1010 LIX Page F. R. Bank of New York: Acceptances; propriety of member banks purchasing and endorsing for immediate resale, in open market; 9/1 views of Deputy Gov. Harrison re, 12/21 Acting Governor; recommendation re increase in salary Bank of France, cablegram from, confirming agreement re 10/ 5 proposed earmarking of gold for FRBank of New York Bankers' acceptances, broadening of market for; letter from FRAgent suggesting FRBanks be requested-to use their 11/ 9 efforts in matter of, 9 11/ Letter to FRBanks re above, authorized Bonus: Payment of additional compensation to officers and 9 /29 employees for third quarter, 1920 10th. 1."lay between of, number in Borrowers from; reduction 10/30 and Oct. 20th., 1920 City York New large six of in, Borrowings from; increase 10/30 banks, between Sept. 30th. and Oct. 22nd. New six of part on in, Borrowings from, large increase 11/ 8 York member banks; analysis of, from Acting Gov. Case from banks, six above of transfers Analysis of wire 11/16 Acting Gov. Case months three on recommended employment Brakeley, George A., 8/3 tentative basis, to educate public along certain lines 10/ 5 re, report in district; Business conditions investrepresenting banks, member issuing Certificate for ment of fifty per cent on subscriptions to capital stock 9/1 of FRBanks; form of, submitted and financial general and at, condition Changes in 8 /26 business conditions in New York City; report re, Charge Offs: Authority requested to make certain; approved with 12A5 exceptions 12/29 Report re certain, Commercial paper market in New York City; weekly report 10/19 on, submitted by Assistant FRAgent Cotton factors' paper; matter of, deferred by FRBoard pending report from Lir. Jay of results of study of 10/16 question by the MBank of in, bank and issue Cuba; establishment of government 10/19 emergency currency; letter from Asst. FRAgent re, Currency, handling of, by the 2RBank; copy of telegrams re, to Bank and Asst. Treasurer of U. S. at New York, 11/ 3 from Asst. Secretary of Treasury Gilbert Deficiencies in reserves from Aug. 30 - Oct. 14, 1920; 10/20 figures showing, 737 1031 811 913 913 794 891 891 908 930 666 609 736 718 1019 1064 852-3 849 853 894 861 LX page F. R. Bank of New York: (continued) Directors of national banks; opinion of Deputy Gov. Harrison that private bankers may serve as, with which their banking concerns are not in substantial competition 669 8 /4 Discount rates: (See under heading "Discount Rates") Discounting of paper of commission merchants; FRBoard to take up matter with Bank re, 1008 12/14 Distribution of net profits accruing from shipment to Orient of silver dollars by the three foreign banking corporations under agreement with Board; letter from Board to Bank advising of, 624 7 /14 Dividend for six months period, July — December, 1920, at rate of 6: ; 0 per annum 1050 12/23 Dollar exchange in Australia and New Zealand; opinion of directors of Bank requested re acceptance by national banks of drafts drawn for creating, 1048 12/22 Drafts originating in Sweden; ruling re eligibility for acceptance by member bank of, requested by 1Zr. Kenzel 912 11/ 9 Opinion of Counsel re above; letter to LIr. Kenzel containing, 11/ 9 '913 Earmarking of 435,000,000 gold by Bank of France for account of, requested, the other FRBanks to participate in, 755 9/8 Above approved, the 435,000,000 gold to be counted as part of lawful reserve of MBank of New York pend— ing shipment to United States 9/9 757'15 Copy of letter from Acting Gov. of FRBank of New York to Bank of France and other FRBanks re, 771'4' 9 /17 • Cablegram confirming agreement re, from Bank of France to FRBank of New York 811 10/ 5 Letter from Acting Gov. of MBank of New York with further reference to matter 823 ioill Reply of FRBank of New York to Bank of France 10/19 855 Equipment for printing F. R. notes; letter from Bank re handling of funds set aside for purchase of, on their books 12/ 1 968 Export acceptance credit contracts, necessity for revising terms of, particularly contracts of packers; letter from Deputy Gov. Harrison re, 10/26 878 F. R.Board Form 86, "application by liquidating bank for surrender of stock"; letter from Counsel of FRBoard re certain changes in, 936 11/18 F. R. notes, purchase of equipment for printing; letter re handling of funds set aside for, on books of Bank 12/ 1 968 Foreign exchanges; corrected copy of memorandum an, forwarded FRBoard for use by League of Nations 9 /17 772 Form of amendment in lieu of Kern Amendment to Clayton Act suggested by Deputy Gov. Harrison of, 11/12, 921 Page F. R. Bank of New York: (continued) Gold earmarked with Bank of England for FRBanks; notice 10/ 5 from Acting Gov. Case of arrival of, in New York Inter-Federal Reserve Bank Pension Fund Committee, foe of special Counsel for proposed; letter from Deputy Gov. 7 /20 Harrison of New York re, 8/3 Maximum fee of 47,500 approved for Counsel Interpretation of certain restriction in regulations of FRBoard re acceptances made by State institutions doing foreign business in which national banks are permitted 7 /27 to invest; inquiry from Deputy Gov. Harrison 7 /27 Reply of (ieverner Harding Interpretation of Section 13 of Elact in re limit to accepting drafts by member bank from any one customer without special security; letter from Deputy Gov. 7 /27 Harrison, and reply of Governor Acting Japanese balances in United States; advice from 12/15 Gov. Case re present status of, and Javasche Bank; appointment of, as the ERBank's agent 11/30 correspondent in Java Javasche Bank; cable re investment of 45,000,000 in re1V 7 discountable acceptances, and Bank's reply Javasche Bank; report re arrangement made to govern 12/15 account of the FRBank with, Jay, Pierre, FRAgent; leave of absence for, to join 10/16 Gov. Strong in Europe, disapproved Pension Committee, conclusions of; report re, from FRAgent 11/30 Jay 2uarters: Purchase of two lots adjoining property recently purchased. 7 1 for storage building, authorized construcfor Storage building; increase in expenditure tion of foundation, owing to discovery of quicksand 10/12 beds, approved Reserves: Deficiencies in, from August 30 - October 14, 1920; 10/20 figures showing, Salaries: 12/21 Acting Governor; recommendation re increase in salary Adjustments in, according to anniversaries of date of 12/ 9 employment Adjustments in, of employees whose anniversaries of 10/12 employment fell during September 12/21 Changes in, during November 10/12 increased salary Herbert, Freeland, dates s of upon anniversarie of in, employees, Increases 11/ 5 of employment Inzrses in, of employees of Bank and Buffalo Branch 611 638 665 654 654 654 1021 961 980 1020 849 961 587 833-4 861 1031 991 834 1033 835 902 7241- LXII page F. R. Bank of New York: (continued) Salaries: (continued) Increases in, of employees, whose anniversaries of dates of employment fall in July 7 /29 Payment of special compensation to employees of Auditing Dept. for night, Sunday and holiday work 8 /19 Ten Eyck, 0. W., Asst. to Consulting Architect Trowbridge; payment of A,000 per annum to, by the ERBank 7/6 Staff: Additions to, and reductions in, during November 12/21 Anderson, Carroll P., appointment and salary 9 /17 Baker, Kenneth, appointment and salary 8 /19 Brakeley, George A., employment of, recommended, on three months' tentative basis, for educating public along certain lines 8/3 Burgess, W. Randolph, appointment as Chief of Div. of Reports requested 11/18 Appointment approved 11/19 Coakran, William A., appointment and salary 10/19 Employees receiving „:;2,400 per annum, or over, whose services were discontinued during June 7 /13 Famployees receiving 42,400 per annum, or over, whose services were discontinued during July 8 /19 EMployees receiving 42,400, or over, whose services were discontinued during August 9 /17 France, Harry C., appointment and salary 7 /13 Mason, L. Randolph, appointment and salary 12/10 Page, Janes, appointment and salary 8 /19 Pecora, Llichael, appointment and salary 10/19 Phelan, Arthur, appointment and salary 7 /13 Voight, James G., appointment and salary 9 /17 Wallace, John E., appointment and salary 9 /17 Wendell, Hugo C. M., appointment and salary 8 /19 Resignation 10/19 Textile Banking Corporation, promissory notes of, not eligible for discount by ERBanks; letter from ERBank re, 7 / 6 Yokohama Specie Bank, Ltd.; conference between New York agent of, and Acting Gov. Case, re Japanese balances and operations in New York market ,and. probable early withdrawal of gold 8 /26 2. R. Bank of Philadelphia: Anniversary dinner for directors, officers and employees, expenditure in connection with, approved 11/15 Bonus: Payment of, for last six months of 1920, authorized,also statement to employees re probable discontinuance of, in future 12/16 658 703 599 1033 774 702 666 934 942 856 621 703 774 620 995 702 856 620 771 771 702 856 601 717 924 1023), Page F. R. Bank of Philadelphia: (continued) Charge to current expenses, authorized, of expenditures for new vault, and alterations, improvements, etc. to 12/15 building, during year t Rates") heading "Discoun under (See rates: Discount Discussion between Gov. Norris and RBoard, of confidential memorandum on member bank collateral notes secured by war obligations, and effect of proposed plan In 7/8 Philadelphia district 1 July period for annum per 6% of rate at Dividend 12/ 9 Dec. 31, 1920, approved Equipment for printing F. R. notes; letter from Bank re, 12/ 7 Examination of, as of close of business July 10; analysis 8 /18 of report of, submitted by :Ir. Paddock for Expenditure in connection with anniversary dinner 11/15 directors, officers and employees approved National First Liberty Loan bonds, aver-issue of, to First Bank of Bethlehem, Pa.; advice re, as accounting for overissue of interim certificates by Bank, and suggesting 9 /17 plan for settlement Board's to reply Interlocking directorates, review of all; 12/ 7 request for, balances fund trust of Investment by national bank of number in government bonds when latter are properly earmarked; 11/22 inquiry from Bank whether permissible y authorit ; reserves in t Member bank chronically deficien 8 /17 of MBank to suspend rediscounting privilege of, of FRBank from bills time Purchase of 410,000,000 short 7/6 New York proposed by; Board's approval re,requested Quarters: Charge to current expenses, authorized, of expenditures for new vault, and alterations, Improvements, etc., 12/15 to building, during year ting redismun suspend to Bank y of authorit ; Reserves 8 /17 privilege of member bank chronically deficient in, in change ving disappro s Director of Board of on Resoluti 7 /14 discount rates on member banks collateral notes Salaries: Increases in, of employees, effective July 1st. Reeves, Maurice, Examiner, salary Increased to 43,500 per annum Staff: Litzenberg, C. L., transfer of, from Currency Dept. to FRAgent's Dept. Locker, Warren, designation as Asst. Examiner Transfer of certain employees of FRAgent's Dept. 1018-19 606 991 979 698 924 771 981 945 692 598 1018-19 692 626 7/7 606 11/22 944 12/21 8 /17 12/30 1034 694 1066 Page F. R. Bank of Richmond: Bonus: Authority for payment of, requested 12/10 Payment of, upon terms previously authorized 12/21 Brawn, Joseph G., re-elected by Bank as member of Federal Advisory Council for 1921 12/10 Charge Offs: Report of certain, in connection with closing of books, Dec. 31st. 12/21 Circular "Rediscount of Cotton Factors' Paper", draft of, submitted 8 /31 Reply of Governor Harding 8 /31 Revised circular submitted 9/2 Cotton factors' paper; letter from Gov. Seay concurring in Board's recent ruling re, 10/29 Counsel, resignation of Eppa Hunton as, and election of Maxwell G. Wallace in his place 12/15 Criticism of ERBoard by Manufacturers' Record; reply of Gov. Seay to, submitted, with request for permission to circulate same 10/12 Discount rates: (See under heading "Discount Rates") Dividend authorized for six months period ending Dec. 31st.12/15 Drafts drawn by cotton grower and ac„:epted by cotton factor selling cotton for grower, proceeds to be used for agricultural purposes; Board's reply to FEBank re eligibility of, 8 /26 Editorial in Richmond Times Dispatch; reply of Governor Seay to, with request for Board's views re, 9 /17 Matter referred to Governor for reply 9 /21 Equipment for printing F. R. notes; letter from Bank re, 12/ 7 Examination of, as of close of business July 17th.; analysis of report of, submitted by Lir. Paddock 8 /19 Pension system for officers and employees of FRBanks; letter from Bank asking Board's conclusions re, 12/15 Board to advise Bank that system will not be inaugurated before securing opinion of Attorney General re its legality 12/15 Quarters: Acquisition of additional lot on Waich to build annex to new building, approval of, requested 11/22 Above approved, the Bank authorized to also secure option on Academy of Music property 11/23 Razing of Virginia Hotel and excavation of foundation for new annex for Bank, approved 12/ 3 Rediscount by, authorized, for Merchants National Bank of Raleigh, N. 0., of paper taken from non-member banks 8 /25 Acknowledgment from Richmond of Board's telegram re,8 /26 995 1033 996 1034 734 734 741 667 1018 637 1017 723 775 779 979 702 1019 1019 945 952 975 713-0 720 LXV Page F. R. Bank of Richmond: Salaries: Adjustments in, of eaployees doing night work Increases in, of employees of bank and Baltimore branch Increases in, of employees, upon anniversaries of dates of employment Staff: Hunton, Eppa, resignation as Counsel Leach, Hugh, appointment and salary Maust, Joseph I., appointment and salary as superintendent of new building Wallace, Maxwell G., election as Counsel Wood, Frank G., appointment and salary Transfer of sub-treasury functions to ERBanks; reply of Bank to Board's letter of June 26th. re, F. R. Bank of St. Louis: Applications of Jtate banks for membership,withdrawn, or on which action has been deferred by State Bank Llembership Committee; letter from Bank re, 12/29 1061 8 /17 693 10/12 10/15 11/ 5 11/15 834 846 902 925 12/15 11/19 1018 939 11/19 12/15 10/27 939-40 1018 882 7/6 598 10/ 5 812 Bonus: Payment of, for 1920, upon same basis as approved 12/16 for 1919 Branches: Purchase of building site for Little Rock, at A5,000, 12/23 authorized bank) same ", Building sites; (See under "Quarters 12/23 Charge offs, at close of business Dec. 31st. 10/ 5 Bank from re, letter Cotton factor paper; that advice l; collatera as receipts Cotton warehouse Memphis branch will not accept, after July 1, 1921, unless accompanied by satisfactory information re 12/ 3 grade of cotton Board suggests similar action by other RBanks and 12/ 3 branches in cotton communities Dividend for period July - December, 1920, at rate of 12/28 per annum 11/ 5 Duplex wire circuit between, and FRBank of Chicago of Examination; analysis of report of, as of close 8 /24 business June 26th., submitted by Mr. Paddock Expenses: Charge to current, of amount assessed against printing 12/16 of F. R. notes and ERBank notes Liabilities of, in connection with failure of First report National Bank of Judsonia, Arkansas; copy of 7/8 re, of Counsel McConkey 1024 1046-7 1049-50 812 975 975 1056 901 708 1024 610 LXVI Page F. R. Bank of $t. Louis: (continued) ::ionthly reports on business conditions; letter from FRAgent Martin re FRAgents furnishing copies of, to newspapers outside of their districts 10/ 5 Quarters: Building site for Little Rock branch, purchase of, for ;85,000, approved 12/23 Staff: Adams, E. C., election as Assistant Cashier at present salary 8/3 Gilmore, S. F., election as Assistant Cashier at present salary 8/3 Hall, F. N., election as Assistant Cashier at present salary 8/3 Sub-treasury functions at Louisville, 'Memphis, and Little Rock branches; letter from Bank re authority to undertake 12/14 F. R. Bank of San Francisco: Bonus: Payment of, authorized, for six months period ending Dec. 31st., 1920 12/21 Charge off, affecting real estate holdings of sank; letter from FRAgent Perrin re proposed, 12/ 1 Charge off, as of Dec. 31st., assessment for additional equipment for printing F. R. notes and FRBank notes 12/14 Charge off of sum expended in connection with building program 12/28 Deficiencies in member bank reserves; establishment by the MBank of progressive penalty rates for, 7 /14 Deficiencies in member bank reserves, penalty rates for, both progressive and basic; letter from FRAgent Perrin12/15 Directors: See under heading "Directors" Discount rates: 6ee under heading "Discount Rates" Expenditures re letting of contracts for new building,installing vaults, etc., approved 8 /18 First National Bank of Fairfield, Idaho; report re failure of, and steps taken by the FRBank in re paper rediscounted by, 11/22 Protection of, by Federal troops, at request of officers of Bank; making of arrangements for, requested 9 /17 Quarters: Building sites for branches at Los Angeles and Salt Lake City, proposal to purchase, 12/22 Building sites for branches at Los Angeles and Salt Lake City; telegram from 11r. 'dialer to FRAgent re, 12/23 Certain sums for letting of contracts for new bank building, installing vaults, etc., approved 8 /18 812 1046 668 668 668 1008 1032 966 1007-8 1056 624 1020 699 946 773 1044 1048 699 LXVII Page F. R. Bank of San Francisco: (continued) Rediscount plan of Cleveland; extension of, proposed by San Francisco, giving lending ERBank choice in matter 11/24 of paper put up by borrowing bank Salaries: Adjustments in, owing to certain changes in personnel; report re 12/14 9/7 Craig, Harold E., salary increased Increase in, of officers and employees, effective July let. 7/6 Recommendations re adjustments in, 12/16 Scandinavian-American Bank of Seattle, violation of 9 /8 conditions of membership; notice of, Small State banks newly organized; suggestion from ElAgent that they not be granted immediate membership 9/1 in System Staff: 7 /20 Beale, J. E., appointment as Assistant Examiner 8/5 Breck, Henry C., appointment and salary Callister, Fred E., appointment, salary, and allowance for moving expenses 8 /17 8 /19 Chaffee, George Woodford, appointment and salary Changes in designation of certain officers of Bank and branches; list of, submitted 7 /14 Changes in personnel; report re, 12/14 9 /29 Craft, H. M., appointment as Assistant Auditor Fleming, Roderick, appointment and salary 8/5 Griffin, Herman, appointment as Assistant Examiner 10/ 5 Ilangels, Herman N., appointment and salary as Assistant Cashier 10/14 Sigourney, Thad Wellington, appointment and salary 9/2 9/2 Sproule, H. A., appointment and salary Tellers, cash; request from Bank as to whether ERBanks should make claims against bonding companies for unlocated shortages in, 9 /29 Vaults: Installing of, in RBank; letting of contract for, 8 /18 Violation of provisions of Section 22 of FRAct by a member bank; telegram from Bank re, and reply of Governor 8 /26 F. R. Bank Stock: Subscriptions to, by newly organized national banks; memo. 7 /11 of Assistant Counsel Angell re, F. R. Banks: 9 /17 Additional protection arranged for, by Secret Service months ERBoard six for Assessment of, for expenses of 12/16 period ending June 50, 1921 officers list of requesting Circular 1-2089 to be sent to, and employees, as of Jan. 1, 1921, including data re 12/11 salaries, positions and duties 955 1011 750 595 1026 754 737 639 674 694 702 625 1011 798 674 814 843 742-3 742 795 699 718 624 773 1025 1002 LXVIII page F. R. Banks: (continued) Deputy-Chairmen; re-designation of certain, for 1921 -12/24 Discount rates; (See under "Discount Bateau) Fiscal agency departments of; letter from Asst. Secretary Gilbert of Treasury re settlement between FRBanks and Treasury covering expenses of, 9 /2a Fiscal agency departments of; letter from Asst. Secretary Gilbert re ERBanks absorbing general overhead expenses of, without allocating any given proportion to reimbursable fiscal agency expenses 10/26 Holding of real estate by; telegram from Gov. Fancher of Cleveland re, 7 /27 Instructions governing assumption by, of transactions in U. S. currency,submitted by Asst. Secretary of Treasury 9 / 2. Instructions to, in re methods of closing books Dec. 31st.; letter from Board giving, 12/11 Legality of, providing Treasury with funds to purchase additional equipment for currency printing program for fiscal year 1922; opinion of Counsel re, 11/ 4 Letter to Chairmen of, re election of Class "A" and "B" directors, designating Nov. 16th. as date for opening of pools 9/7 Letters from Board to, re Cottonseed oil, propriety of certain bankers' acceptances covering domestic shipments of; Board's ruling re, 11/22 Equipment for printing F. R. notes fInd assessment of 'cost thereof, 11/18 Monthly reports to Board of number of officers and employees and salaries paid; recommendation of Mr. Hoxton for submission of, 10/ 6 Notification of, to furnish Board with certain inforuntion not later than 10 o'clock Friday mornings, Dec. 24th. and 31st. 12/14 Progressive discount rates, methods of applying; memo. of Counsel re, with proposed letter to all FRBanks 9/8 Telegram from Governor Harding to, requesting discontinuance of weekly telegraphic reports of debits to deposit accounts at FRBanks and branches 10/19 Tellers' cash, shortages in; letter from San Francisco as to whether FRBanks should make claims against bonding companies in cases of, 9 /29 Unit cost of each department at, with comparative compilation; suggestion of Mr. Hamlin. for employment of outside agency to determine, 11/16 F. R. Board: Assessment of FRBanks for expenses of, for six months period ending June 30, 1921 12/16 1052 784-6 879 652 743 1001 900 747-0 947 937 817 1005 754 858 795 929 1025 Page (continued) F. R. Board: By-Laws: Revision of,, Suggested amendments to, made special order of business Oct. 12th. Division of, to count RBank notes, in lieu of service now rendered by A. S. Pratt & Sons; estimate of cost of maintaining, F. R. Agents Jay of New York and Heath of Chicago at meeting of, Nov. 29th. (See under "Forma, F. R. Board") Forms of, Inter-district time schedule of; form letter for trans11/18 mitting Governors of all FRBanks re changes in, re Hoxton Inter-district time schedule of; memo. of Er. incorporation into intra-district time schedules of 11/ 3 FRBanks; circular to be sent FRBanks re, certain Inter-district time schedule of; objections by 12/22 FRBanks to adoption of, proposed Letter from, to Senator McLean, stating views re amendment to Act whereby 5,; shall be maximum discount 12/16 rate at all FRBanks Letter from, to Senator McLean, stating views re Senate Bill 4537 amending RAct re notes, drafts, and bills of 12/10 exchange of cotton factors or commission merchants Members of, See under "Members, F. R. Board," 10/ 1 Organization chart, changes suggested in, 10/12 Organization chart, new form of, approved Policies of; criticism of Senator Owen re present, and 10/26 reply of Board ons organizati various from re, Policies of;, criticisms and individuals in ninth and tenth districts, with 11/24 suggestions re changes sent be to copy approved, reply of General letter 11/24 all FRBanks 11/19 Policies of; letter from Senator Owen criticizing, 11/29 Reply of Board Quarters: See under heading "quarters, F. R. Board" Telegram to FRBanks re furnishing Board with certain information not later than 10 o'clock Friday mornings, 12/14 Dec. 24th. and 31st. F. R. Bulletin: Index digest of first five volumes; report by Mr. Hamlin 11/ 8 of completion of, Price for complete edition; increasing of, to 44.00 7/6 per annum, suggested by Dr. Willis 7/ 7 Price increased to 44.00 per annum Price of first edition set at 41.50 per annum, and second at 44.00, regardless of number of subscriptions 8 /25 taken by individuals or institutions 824-830 807 732 958 934 895 1044-45 1022 999 807 824 877 957 957 941 958 1005 908 600 603 713 1.4XX page F. R. Bulletin: (continued) Special rate on subscriptions to, for State Bank examiners, approved 11/18 Twenty-five copies of large edition to be sent monthly to FRBanks for distribution to firms furnishing information on business conditions 7 /27 F. R. Club of F. R. Bank of Chicago: Appropriation of 48,000 for, to be devoted to educational purposes 12/30 F. R. Currency: Report of committee appointed at Governors' Conference April 7 - 10 to study issue and redemption of, 7/1 No objection by Board to plan of committee; Gov. LicDougal to be so advised,suggesting copies of report be sent FRAgents and Governors for criticism 7/a F. R. Notes: Equipment for printing, and assessment of cost thereof; draft of letter to FRBanks re, 11/18 Equipment for printing; letter from FRBank of Atlanta re, 12/ 7 Equipment for printing; letter from FRBank of New York re handling on their books of funds set aside for purchase of, 12/ 1 Equipment for printing; letter from ERBank of Phila. re,12/ 7 Equipment for printing; letter from FRBank of Richmond re, 14 7 Equipment for printing; opinion of Counsel re legality of ERBanks providing Treasury with fonds for purchase of additional, 11/ 4 :,lutilated; letter from MBank of Dallas re shortage in shipment of, from Bank 8 /24 New designs for, and for FRBank notes, submitted by Asst. Secretary of Treasury 12/ 9 Treasury Dept. to be advised proposed form satisfactory to Board with certain minor Changes 12/ 9 Progress made by Treasury Dept. toward increasing supply of, and of RBank notes 12/14 Proposed rental of vaults from Wayne County & Home Savings Bank of Detroit for holding part of reserve stock of, carried by Detroit branch 7 /14 Revisions of legends on backs of, letter from Asst. Sec. of Treasury Gilbert re; matter ordered topic for conference of Governors and FRAgents, Oct. 13th. 10/ s Draft of letter by Counsel to Governors and FRAgents re above lo/la Shortage of 4500 in package of, delivered Dallas in Liarch, charged to profit and loss 10/19 936 650 1066 589-90 593 937 979 966 979 979 900 707 992 993 1007 625 811 836-7 853 ( Page Federal Reserve Securities Company: Prevention of formation of corporation in Illinois with title of, by Counsel of RBank of Chicago; advice re, 8 /12. Federal Reserve System: Earnings and operations of; editorial re, forwarded by 9 /17 FRAgent Rich Functions and operations of; inquiry from Chicago whether good policy for representatives of FRBanks to go before public to enlighten it re, and correct 9 /17 false impressions 9 /21 Matter referred to Governor for reply pertaining to, furnished Senator figures and Information 12/21 Gronna by Gov. Harding Withdrawals: Bank of Goltry, Oklahoma; recommendation from RAgent 12/14 Ramsay for withdrawal from System 12/21 Withdrawal approved Farmers State Bank of Allen, Nebraska; approval of withdrawal of, by Board, upon certain recommenda12/28 tions from Kansas City Federal Trade Commission; Correspondence between, and Director of Division of Analysis & Research, re duplication of effort in securing statistics upon textile trade in First 7 /29 F. R. District Letter submitting advertisement used by Farmers National Bank of Pomeroy, Washington, purporting to have approval lo/la of FRAgent Perrin Federal Troops: Protection of FRBank of San Francisco by, at request of Bank's officers; making of arrangements for,requested 9 /17 Ferguson, Homer L., President of Chamber of Commerce of U. S. Request from, for reply to letter written Board under 12/ 7 date of Oct. 9, 1920 12/ 9 Draft of letter of reply 12/10 Approved, with slight amendment Fiduciary Powers: First National Bank, Canton, Illinois; reconsideration of application of, for fiduciary powers, requested 9 /29 by FRAgent Heath National City Bank & Trust Co., Marion, Ohio, granted permission to exercise, upon approval of charter by 9/7 Comptroller of Currency Power of national bank exercising, under Section 11 (k) of Act, to engage in business which State trust company can carry on under laws of same State; inquiry from a /13 Fort Worth. National Bank 8 /13 Reply of Governor Harding 684 773 775 780 1032 1010 1039 1055 659 835 773 981 993 995 801 749 686 686 Page Fifth F. R. District: Discussion of national bank elcaminer Finney with Board re banking and business conditions in, and re strained banking conditions in North and South Carolina 10/ 5 Financial Papers: Contributions to, by members of F. R. Agent's reportorial staff of Chicago; Board's views requested re, 9 /29 Financial Situation in North Dakota: Letter to Comptroller from Chief national bank examiner of ninth district re, with special reference to Bank of North Dakota 12/ 7 Financial Statements: Sub-division of item "accounts receivable" in all authorized forms of; letter from Price, Waterhouse & Co. suggesting, 11/ 8 Preparation of circular authorized, to call attention of RBanks to above 11/ 8 Financing of Cotton Crop: Letter from President of American Cotton Association in re, and reply of Governor 7 /21 Financing of Cuban Sugar Crop: Ineligibility of certain acceptances proposed by American Foreign Banking Corporation for, preparatory to export to U. S.; letter from Board to Corporation re, 7/1 Finney, R. Gordon, Supervising National Bank Examiner: Discussion by, with Board, re banking and business conditions in fifth district, and re strained banking conditions in North and South Carolina lo/ 5 First Federal Foreign Banking Association: Parnassian granted, to accept for purpose of creating dollar exchange in South and Central America and Cuba 9 /29 First National Bank, Canton, Illinois: Reconsideration of application of, for fiduciary powers, requested by ERAgent Heath 9 /29 First National Bank, Covington, Kentucky: Reduction in capital stock of, to 4500,000 12/10 First National Bank, Judsania, Arkansas: Liabilities of ERBank of St. Louis in connection with failure of; copy of report of Counsel UcConkey of St. Louis re, 7/8 First National Bank of Bethlehem, Pa. Over-issue of First Liberty Loan bonds to, by MBank of Philadelphia; advice re, as accounting for over-issue of interim certificates by the FRBank 9 /17 First National Bank of Boston: Application of, for permission to accept for purpose of creating dollar exchange in Australia; action deferred11/11 814-15 795 984 908 908 643 586 814-35 796 801 995 610 771 918 Page First National Bank of Boston: (continued) Permission granted, to accept in certain foreign 7/2 countries for purpose of creating dollar exchange 9 /21 Permission granted, to establish branch in Brazil First National Bank of Champlain, New York: 12/23 Reduction in capital stock of, in sum of $50,000 First National Bank of Coeur d'Alene, Idaho:' Letter from, calling attention to newspaper headline 12/16 saying FRBank had failed, submitted by Comptroller First National Bank of Fairfield, Idaho: Failure of; notice from San Francisco, giving steps 11/22 taken by the FRBank in re paper rediscounted by, First National Bsn3r, Rawlins, Wyoming: Refusal of Omaha branch to rediscount for, domestic acceptances secured by bills of lading covering 7/7 wool in traliqit; telegram from Kansas City First National Bank of Samson, Alabama: Permission granted, to subscribe to stock of corporation 12/ 9 to be organized under Edge Law First Trust & Savings Co., Cleveland, Ohio: Consolidation of, with Citizens Savings & Trust Co. of 12/30 Cleveland, approved Banks: Fiscal Agency Departments, F. R. General overhead expenses of; letter from Asst. Secretary of Treasury re ERBanks absorbing, without allocating any given proportion to reimbursable fiscal agency expenses10/26 Opinion of Counsel re reimbursement of FRBanks for 9 /14 expenses in conducting, for Treasury Department covering FRBanks and Dept. Settlement between Treasury expenses of; letter from Asst. Secretary of Treasury 9 /22 Gilbert re, Angeles: Los Bank, Merchants Nat. of President Fishburn, J. E., Request from, as to Board's policy re acceptance by member bank of drafts issued against unsold cotton in 10/21 warehouses Fletcher American Co. of Indianapolis: Letter from, re acceptance credit covering transactions 11/15 in automobiles Foreign Banking Corporations: Applications of national banks for permission to purchase stock in corporations organized under Edge Law; memo. 12/l4 of Counsel re method of handling, Certain national banks granted permission to purchase stock in corporations organized under Edge Law 12/14 (See Auxiliary Minute Book, of date) Distribution of net profits accruing from Shipment to Orient of silver dollars by the three, under agreement with FRBoard; letter from Board to RBank of N.Y. re, 7 /i4 591 779 1047 1023 946 605 990 1065 879 763 784-5 867 925 1006 1006 624 LXXIV Foreign Banking Corporations: (continued) Equitable Eastern Corporation, form of agreement between, and RBoard, under Section 25 of FRAct; copy of, sent Murray, Prentice and. Howland. of New York City 11/1e Pocamination of foreign branches of, doing business under agreement with FRBoard; memo. of LIV. Paddock 8 /4 Permission granted First National Bank of Sameon,Alabama, to subscribe to stock of corporation to be organized under Edge Law 12/ 9 Reservation of title "Federal International Banking Co." for thirty days, for corporation to be organized under Edge Act 11/30 Reservation of title "Foreign Trade Financing Corporation" for proposed corporation to be organized under Edge Act; letter from Board to Henry V. Poor re, 12/ 7 Foreign Credit Corporation of New York: Amendwent to agreement with Board, providing aggregate of acceptances outstanding, plus total deposits, not exceed twelve times subscribed capital and surplus 9/8 Foreign Exchange Transactions with Soviet Russia: Memorandum of Counsel re termination of control of, and Loportation of Russian roubles 7 /13 State Dept. desires nothing further done on proposal to lift restrictions an; memo. from Asst. Secretary Gilbert of Treasury 8 /26 Suspension of restrictions on, 12/18 Foreign Exchanges: Corrected copy of memo. on, forwarded Board by Asst. Agent at New York for use by League of Nations 9 /17 Foreign Trade Financing Corporation: Reservation of title of, for proposed corporation to be organized under Edge Act; letter from Board to Henry V. Poor re, 12/ 7 Reservation of title for additional thirty days from Jan. 3, 1921, approved 12/28 Form 86, F. R. Board: "Application by liquidating bank for surrender of stock"; letter from Counsel of Board to Counsel of FRBank of New York re certain changes in, 108 Form St. 51: Weekly'condition report for member banks; stencil covering revision of, recommended by Mr. Jacobson, for forwarding FRAgents 12/ 7 Fort Smith & Western Railroad Co. Form of loan of 4156,000 to, approved upon recommendation of Railway Loan Advisory Committee 12/ 8 Fort Worth National Bank, Fort Worth, Texas: Inquiry from, whether national bank, exercising fiducia ry powers under Section 11 (k) of Act, may engage in business which State trust company can carry on under laws of same State; reply of Governo r 8 /13 Page 933 671 990 960 982 754 616-19 720 1027 772 982 1056 936 977 986 686 Page G. Amsink & Co. Copy of cablegram sent by, to their agents in South America General Counsel, F. R. Board: Logan, Walter S., appointed as, at 47,500 per annum Georgia: See under "State of Georgia" Gold: Authority to have earmarked 435,000,000 of, by Bank of France for account of FRBank of New York, requested by latter, the other FRBanks to participate in, Above approved, the 435,000,000 gold to be counted as part of lawful reserve of FRBank of New York pending shipment to United States of Copy of letter from Acting Governor of FRBank FRBanks New York to Bank of France and to other 11/16 928 7/8 613 9/8 755 9/9 757-8 9 /17 re, in ed Bank of France, holdings of gold by, as reflect 12/ 7 statement; memo. of Board's Statistical Dept. re, reportgold Mr. Wills to ask FRBank of New York if ed earmarked for its use by Bank of France is 12/.? actually segregated in gold Bank of opinion that earmarked 12/ 9 segregated York; New of Earmarking of, by Bank of France for FRBank cablegram confirming agreement re, from former to 10/ 5 latter York; New of Earmarking of, by Bp-nk of France for FRBank letter from Acting Gov. of FRBank of New York with 10/11 further reference to, York; New of FRBank for Earmarking of, by Bank of France 10/19 letter of reply from New York to Bank of France for England of Bank First shipment of, earmarked with 10/ 5 FRBanks; notice of arrival in New York Russian: Importations of; correspondence between Asst. Secretary 11/11 Gilbert of Treasury and Dept. of State re, r at Ministe n America from Paraphrase of cablegram Stockholm re receipt of shipment of, submitted 11/ 3 by Assistant Secretary of Treasury prefor plan States; United to ik, Shipment of bolshev 11/ 9 venting,submitted by Asst. Secretary of Treasury from letter States; United to China Shipments of, from American Foreign Banking Corporation re acceptance of drafts drawn against, or advanfles against, by FRBank of New York upon guaranteed delivery by 10/ 5 corporation 771-2 984 985 988 811 823 855 811 919 895 914 809 LXXVI Page Goldenweiser, E. A., Assistant Statistician, F. R. Board: Authorized to attend meeting of American Economic Association at Atlantic City, Dec. 27th. - 29th. Governor, F. R. Board: Order of The President re-designating W. P. G. Harding as, for period August 12, 1920 - August 10, 1922 Governor of State of Georgia: Probable calling of special session of legislature of Georgia for enactment of law providing twelve months stay, or moratorium, in State; telegram from Board to MBank of Atlanta re press item re, Governor of Virgin Islands: Memorandum from, re extending date of abrogation of existing moratorium in Islands Governors, F. R. Banks: Atlanta: Campbell, J. L., elected Deputy-Governor Conference of; attention called by Mr. Wills to lack of action an recommendations made by last, Comments by Board on recommendations made by conference held Oct. 14th. and 15th., transmitted to Governors of all ERBanks Conference of, Oct. 14th. and 15th.; memo. of Mr. Hoxton re, Wills re Mr. Hoxton's review of Memo. of Governor's Conference Conference of, with FRAgents, in Board's assembly room, National Metropolitan Bank Bldg., on October 13th., authorized Conference of, with FRBoard and FRAgents, called for October 13th. Dinner to, and FRAgents, Oct. 14th., authorized, the Executive committee to make arrangements for, New York (Acting): Recommendation re increase in salary of, Grand Avenue Bank, St. Louis, Mo. Authority granted, to reduce reserve requirements from 13,;( ) to 10-,',; on demand deposits Gray, P. N., & Co. Letter from Treasurer of, re right of member bank to accept drafts drawn payable in foreign countries and currencies, and whether same are eligible for rediscount and purahase by ERBanks Draft of reply and memo. of Counsel Matter referred to Governor for reply Great Northern Railway Co. Form of loan of 42,010, 000 to, approved upon recommendation of Railway Loan Advisory Committee 12/ 9 990 7 /27 651 12/ 2. 972 7/8 613 12/21 1035 12/22 1045 12/29 12/ 1 10600, ' 66 10 966 12/ 9 989 10/12 838 8 /17 689 10/12 838-9 12/21 1031 12/21 1033 10/ 5 10/ 5 lo/ 6 813 813 820 11/ 3 894 1 LXZTII Page Great Northern Railway Co. (continued) Recommendation of Interstate Commerce Commission for loan of .4319,000,000 to, under certain conditions; suggestions re, a /26 made by Er. McLean of Railway Loan Advisory Committee Gronna (Senator): Information and figures pertaining to ERSystem furnished by 12/21 Governor Harding to, Guaranty Trust Co. of New York: 1:.r. Wills to make inquiries re handling of certain bankers' 12/ 7 acceptances by, during contemplated visit to New York 12/10 above re ills by ir. report Favorable of Bank National by drawn drafts receiving Practice of, in Cuba left blank as to identity of drawee; statement by Comptroller, suggesting immediate examination of bank 12/ 3 by Board Gulf, mobile and Northern Railroad Co. form of loan to, approved upon recommendation of Railway 11/30 Loan Advisory Committee Hamlin, C. S., ilember of 2. R. Board: Abstract of Aldrich Act, and comparative clauses in, and in FRAct, prepared by; request from Professor Hollander 9/1 for copy of, Uemorandums of, re Cotton factors' paper, ineligibility for rediscount by FRBanks of, also re commission merchants' and cold 10/26 storage warehouse paper re RAgent in Form of questionnaire to be sent each Interlocking directorates covered by Clayton Act and 11/19 Kern amendment thereto, first five of digest Report by, in re completion of index 11/ 8 volumes of FRBulletin Council: Hampton, George P., of Farmers' National Letter from Board to, replying to letter received by 10/12 Secretary of Treasury policies re information and data certain Request from, for 10/21 of Board Harding, W. P. G., Governor, 2. R. Board: Invitation to, from American National Livestock Association 10/29 to address conference at 1111 Paso, Jan. 12 - 14, 1921 724 1032 977 996 975-6 960 736 871-2 941 908 838 867 887 LXXVIII Page Harding, W. P. G., Governor, F. R. Board: (continued) Invitation to, from National Wool Growers' Association,and from Senators Smoot and King, to address annual convention of Association at Salt Lake City in January 10/12 Invitation to, to address Cleveland Chamber of Commerce in September or October 8 /17 Invitation to, to address Kentucky Bankers, Association on September 8th. 8 /4 Order of "The President" re-designating as Governor of FRBoard for period Aug. 12, 1920 - Aug. 10, 1922 7 /27 Report by, of visit of himself and Ur. Wills to Atlanta and Birmingham, and re conditions at Atlanta MBank and through South 10/11 Statement in re rediscount by MBank of Richmond of paper for Merchants Nat. Bank of Raleigh, N. C., favoring, 8 /25 Harriman National Bank, New York City: Permission granted, to accept for purpose of creating dollar exchange in Argentina and Brazil 8 /18 Harrison, G. L., Deputy Gov., F. R. Bank of New York: Form of amendment suggested by, in lieu of Kern amendment to Clayton Act 11/12 Hearings, F. H. Hoard: Building Committee of MBank of Chicago to be granted hearing on Oct. 22nd. 10/19 Governor Fancher, Deputy Gov. Fleming, and architects of RRBank of Cleveland, to be granted hearing with Board and Lir. Trowbridge, Nov. 23rd., re building plans for Cleveland 11/18 Conference held, and various plans and drawings exhibited; construction of building authorized 11/23 Granting of hearing to representatives of farm organizations by the ERBoard, Agents and Governors, requested by Senators Smith, Overman, and Smith 10/14 Request modified to a hearing before Board; granted of date, if agreeable to Secretary of Treasury 10/14 Herson, James F., Chief F. R. Examiner: Appointment as Chief of Div. of Examination, in addition to holding title of Chief Federal Reserve Fxaminer 10/ 6 Hibernia Bank & Trust Co. of New Orleans: Ruling requested by, re eligibility of drafts drawn against banks, members of syndicate to grant acceptance credits for financing export of commodities actually under contract 9/7 Reply of Governor, disapproving as ineligible 9/7 Revised draft of reply by Counsel, approved 9/9 Revised plan; letter covering,from Hibernia Bank & Trust Co. 9 /17 838 694 671 651 821 713-715 698 921 858 937-8 949 840 840,844 818 751 751 760 771-5 Page Hibernia Bank & Trust Co. of New Orleans: (continued) Status of President of, as director of both. Mercantile Bank of the Americas and of proposed Federal 12/ 7 International Banking Co.; letter re, Hollander, (Prof.) Jacob H. Request from, for copy of abstract prepared by Mr. Hamlin of Aldrich Act, with comparative clauses in, and in 9/1 the Blot; granted House Bill 14488: Robbery of MBank or member bank; letter from Gov. Harding 12/14 to Chairman of Judiciary Committee of House re, F. R. Board: Hoxton, W. W., Executive Secretary, Appointed Secretary of ERBoard, effective Nov. lst.,1920 10/12 Designated Acting Secretary for period Oct. 16th.-31st. 10/12, Memorandums of, re Incorporation into intra-district time schedules of 11/ 3 FRBanks of inter-district schedule of FRBoard re Board to reports monthly of Submission by FRBanks number of officers and employees,and salaries paid, 10/ 6 recommending Illinois Central Railroad Co. Form of loan of 44,440,000 to, approved upon recommenda10/21 tion of Railway Loan Advisory Committee Importation of Foreign Wool: Acceptances based upon; request from National Wool Growers 11/22 Asso. that Board rule against eligibility of Imports and Exports: Importation of Russian paper currency: Letter from Under-Secretary of State to Secretary of 7 /29 Treasury re, of Dept. Memo. re, from J. E. Crane of Foreign Exchange 7 /29 FRBank of New York be to FRBanks Special licenses to be required for, and 7 /29 so notified Dept. to Treasury Letter to RAgents re, submitted 8/3 for approval Indemnity Agreement for Acceptance Credits: Board's suggested form of; letter fromi MBank of Chicago 11/18 re of Bank National to Reply of Gov. Van Zandt of Dallas 11/18 Commerce at Houston re Board's, submitted report ; R.Bulletin of F. volumes Index digest of first five 11/ 8 re completion of, by Mr. Hamlin 979 736 1011 831 831 895 817 865 946 655 655 655 661 937 937 908 Instructions governing assumption by FRBanks of transactions in U. S. currency, submitted by Asst. Secretary of 9/ 2 Treasury Insurance protection for FRBoard in case of persons being injured during vault construction tests; Mr. Trowbridge authorized to procure, 10/30 Inter-District Time Schedule of F. R. Board: Changes in; form letter for transmitting Governors of all RBanks re, 11/18 Incorporation of, into intra-district time schedules of ERBanks; memo. of Ur. Hoxton re; circular to be sent FRBanks 11/ 3 Objections of certain ERBanks to adoption of, 12/22 Inter-Federal Reserve Bank Pension Fund Committee: Conclusions of; report re, from ERAgent Jay 11/30 Fee of special counsel for proposed; letter from Deputy Gov. Harrison of New York re, 7 /20 LlaYimum fee of 47,500 approved for counsel 8/3 Interest Rates: Oregon; proposed amendment to constitution of, to establish maximum interest and discount rates at 5;;; memo. of Counsel 10/ 5 Favorable report by Mr. Hamlin on memo. 10/12 Mimeograph copies of memo. ordered furnished 10/12 Conference of Governors and RAgents St. Joseph Valley Bank, Elkhart, Indiana; letter from Chicago re interest rate of 5% paid. by, on deposits 10/19 Suggestion of Comptroller for approval of 10;.; rate on loans an Liberty bonds made prior to time reduced rate should become effective 8/26 Interlocking Directorates: (See also "Clayton Act") Applications for, approved Affleck, B. F. 10/ 6 Ainsworth, H. B. 10/ 6 12/10 Beretta, J. K. 9/7 Booth, Thomas J. 10/ 6 Bowersock, J. D. Brick, Josiah E. 12/28 Bristol, Bennet B. 10/ 6 Brocklehurst, Harry 9/1 Cates, R. W. 9/ 7 Clark, J. Ross 10/15 Clark, J. Ross 12/21 Crissey, Harold E. 7 /14 Doubleday, George, for remainder of year 1920 10/ 6 Dawning, J. R. 10/14 8 /12 Duerr, Edward A. 743 890 934 895 1044-6 961 638 665 812-13 833 833 854 721 819 818 •997 749 818 1066 819 738 749 846 1041 627 819 842 683 LX:raI Page Interlocking Directorates: (continued) Applications for, approved 7 /13 .English, Janes W. 8 /26 Evans, L. 04 11/30 L..0. Evans, 12/14 Evans, Wilmot R., Jr. 8 /12 Fitch, J. P. Foster, A. C., upon understanding of filing of 7/8 new application, Dec. 1st. 12/28 Foster, B. W. of Gano, Merritt W., upon understanding of filing 7/8 new application, Dec. 1st. 7 /14 Catch, Claud 12/16 Gipson, Amos Grant, Janes B., upon understanding of filing of 7/8 new application, Dec. 1st. /18 11 Henry, Archibald N. new of of filing ding Hicks, S. N., upon understan 7/8 application, Dec. 1st. 10/20 Hoffstot, Frank N. 12/16 Hoskins, J. P. 11/23 Hurley, A. W. of filing of James, Harry C., upon understanding 7/8 new application, Dec. 1st. of filing of Kassler, E. S., upon understanding 7/8 new application, Dec. 1st. as and branch Helena Kaufman, R. 0., as director of . officer and director of Union Bank & Trust Co., /14 9 Helena, Montana 10/19 Kelly, Cornelius F. 10/14 Kemper, W. T. 11/ 9 Kent, Robert D. /17 8 P. Darwin Kingsley, 12/11 Kluckhohn, E. B. 12/14 Knawland, J. R. 9 /11 Le Fevre, Prank J. 10/ 6 Lersner, Victor A. 9 /17 Lord, Robert 0. 10/26 Lotte, Charles E. 12/28 Lyon, Sanford G. filing NacFarland, Findlay L., upon understanding of 7/8 of new application, Dec. 1st. 12/10 Matthews, J. P. 12/14 Merrill, Edwin G. 12/28 Miller, G. D. Mitchell, J. C., upon understanding of filing of 7/8 new application, Dec. 1st. 12/28 Moore, T. W. 620 718 963 1012 683 612 1059 612 627 1026 612 934 612 861 1026 951 612 612 765 856 843 911 694 1013 1014 764 819 771 876 1059 612 997 1013 1059 612 1059 - Page Interlocking Directorates: (continued) Applications for, approved Ottley, Janes K., to serve as Class ' ,A" Director of MBank of Atlanta while President and Director of one bank and Treasurer and Director of another Parsons, Henry Perkersana. T. Perkins, George F. Peters, Edward C. Potts, R. J. Pugsley, Cornelius A. Reed, Albert A., upon understanding of filing of new application, Dec. 1st. Ringold, Janes, upon understanding of filing of new application, Dec. let. Robertson, H. P. Robinson, Henry M. Robinson, Janes D. Robinson, Thomas A. Rogers, C. Harry Rowley, H. W., as director of two national banks as well as of Helena branch Ryan, Charles I. Ryan, John D. Sargent, Henry W. Sensenbrenner, F. J. Sharer, William P. Sherman, Sanford F. Sinclair, E. Ir. Snyder, Karl C., upon undershanding of filing of new application, Dec. 1st. Spreckels, John D., application approved as to certain banks and disapproved as to others Stevens, John P. Swift, Louis F. Wagner, Edmin L. Wagner, W. P. Wall, T. R. Wayne, Joseph, Jr. Whitmore, G. U. Wilcox, C. LladA., upon understanding of filing of new application, Dec. 1st. Wilson, E. T., upon understanding of filing of new application, Dec. 1st. Zimnerman, Henry M. 7 /14 12/21 7 /13 11/ 3 7 /13 7 /27 10/19 627 1041 620 896 620 653 855 7/8 612 7/ 8 7 /14 12/14 7 /13 10/ 6 11/23 612 627 1012 620 818 952 10/21 7 /13 866 620 10/14 842 9 /17 9 /14 7 /14 8 /18 9/7 771 765 627 698 749 7/8 612 12/14 7 /27 7 /20 10/19 10/ 6 12/10 12/29 7 /27 1013 652 639 855 819 997 1063 7/8 612 7/8 8 /24 612 709 652 Interlocking Directorates: (continued) Applications for, disapproved 1014 12/14 Bristol, John W. 1014 12/14 English, Henry F. 1062 12/29 Foster, A. C. 1062 12/29 Gano, 1062 12/29 B. Grant, J. 1014 12/14 S. James Hemingway, 1062 12/29 Hicks, S. N. 12/28 1058 Hinman, Thomas P. 1014 12/14 Hooker, Thomas 1014 12/14 Hotchkiss, Henry L. 12/29 1062 James, H. C. 12/29 1063 Kassler, K. S. 12/14 1013 Lipman, F. L. 12/29 1063 MacFarland, Finley L. 1062 12/29 Mitchell, J. C. 1058 12/28 Murphy, John E. 12/28 1058 NPrnAly, J. IL. 1063 12/29 Reed, Albert A. 12/29 1063 Ringold, Janes 12/29 1062 Schuyler, K. O. 1014 12/14 Stoddard, E. G. 12/14 1013 Whitney, Eli 1058 12/28 Wickersham, O. A.. 1062 12/29 Willcox, C. MaaA. 9 2 1063 12/ Wilson, K. T. 8 2 / 12 1059 Woodruff, R. W. 1040 1921 12/21 1, April Board to review all existing permits on. circular Act; Board's policy re aministration of Clayton 12/22 1044 letter announcing, 857 of, 10/19 application City, of York New Bank Chemical National in connection with its interlocking bank directorates Letter to FRAgents asking information re, covered by Clayton Act and Kern Amenanent thereto, with form of 11/19 941 questionnaire for answering in detail 12/14 1004 Policy of Board re, President of Hibernia Bank & Trust Co. of New Orleans, status of, as director of both Mercantile Bank of the Americas and of proposed Federal International 979 12/ 7 Banking Co.; letter re, Privileges of private bankers as directors of national bankR under amendment to Clayton Act; suggestion from Deputy Gov. Harrison for informal announce737 9/1 ment re, Reply to Deputy Gov. Harrison submitted by Law 9/2743-4 Committee and approved Review of all existing permits for, by Board, set for 12/21 1040 April 1, 1921 Review of; reply from RAgent at Philadelphia to 12/ 7 981 Board's request for, Page Internal Revenue: Powers of Commissioner, under Section. 406 of Revenue Act, re postponing date of payment of estate taxes where not possible for estates to raise funds; letter from Acting Commissioner re, International Banking Corporation: Examination of; report re recent, by National Bank Examiner Norris 8/26 Transfer to, of Spanish branch of National City Bank of New York, including offices at Madrid and Barcelona 7 /20 International Finance Corporations: Right of national banks to invest in stock of; letter from Board to Manks re, 12/24 Interstate Trust & Banking Co., New Orleans, La. Establishment by, of foreign branches at Tampico, Vera Cruz, 'and Merida, Mexico, approved 7/8 Intra-District Time Schedules of F. B. Banks: Incorporation into, of inter-district schedule of RBoard; memo. of Mr. Hoxton re; circular to be sent FRBanks 11/3 8/27 725 1\ 721 638'9 ' 31 1052 1 610 895 11311 Jacobson, Morris L., Statistician, F. R. Board: Authorized to attend meeting of American Economic Asso. at Atlantic City, Dec. 27 - 29, 1920 12/ 9 Salary increased 12/23 Japan: Balances in; copy of letter from Acting Gov.Oase of New York re, transmitted Secretary of State by Gov. Harding 9 /22 Japanese Balances & Operations in New York market: Conference between Acting Gov. Case of New York and New York Agent of Yokohama Specie Bank, Ltd. in re, and probable early withdrawal of gold Japanese Balances in United States: Present status of; advice re, from Acting Gov. Case of N.Y. 12/15 Javasche Bank, Batavia, Java: Appointment of, as agent and correspondent of MBank of New York in Java 11/30 Arrangement made to govern account of FRBamk of New York with; report re, from Acting Gov. Casa of New York 12/15 Cable from, to FRBank of New York, re investment of $5,000,000 in rediscountable acceptances, and FRBank's reply 12/ 7 Jay, Pierre, F. R. Agent, New York: Leave of absence from RBank for certain period to join Gov. Strong in Europe, disapproved 10/16 Jefferson-Gravois Bank, St. Louis, Mo. Authority granted, to reduce reserve requirements from 13 to 10,', an demand deposits 12/21 a /26 990 1051 786 717 1.021 961 100 950 log Lmav Page Kansas City, Mexico, and Orient Railway Form of loan of 42,500,000 to, approved upon recomnendation 10/19 of Railway Loan Advisory Committee Kansas City Motor Car Dealers Association: Protest from President of, against newspaper report of speech by FRAgent Ramsay discouraging loaning of money to 8/3 automobile industry 8/3 Reply of Governor Harding Kentucky Bankers' Association: Invitation from, to Gov. Harding to address Association 8 /4 an September 8th. Kern Amendment to Clayton Act: (See also "Clayton Act") Form of amendment to Clayton Act in lieu of, suggested by 11/12 Deputy Gov. Harrison of New York 11/22 Letter from RAgent Jay of New York re, 852 665 665 671 921 945 UV, • LaFayette South Side Bank, St. Louis, Mo. 12/21 Reduction in reserve requirements of, disapproved La Grange Banking & Trust Co., La Grange, Ga. Condition of admission to FRSystem as to rediscounts, 10/28 waived Law Books: 11/ 9 Purchase of, for Counsel's office, authorized League of Nations: Memo. on foreign exchanges for use by; corrected copy of, 9 /17 forwarded Board by Asst. Agent at New York Leased 'aire System: Duplex wire circuit between F.RBanks of St. Louis and Chicago, 11/ 5 rson approved upon recommendation of Mr. Telegraph messenger boy, appointment of George Heffner as, 11/18. Telegraph Operators: Appointment of additional operator from July 6th. to 7/6 October 31st. 12/30 Certain adjastmants in salaries of, 9/7 Clark, William C., resignation 9/7 Cutsail, M. L., appointment 9 /29 Flagg, M.P., appointment, vice W. C. Clark 9/ 7 Heber, J. H., resignation 12/30 Lynch, L. M., appointment and salary 9/7 Pool, W. S., salary increased 12/30 Boilers, O. R., resignation Sparks, W. S., temporary appointment of, 9/7 1032. 886 910 772 901 935 599 1067 750 750 798 750 1067 15067 0 750 Legislation: Views of Board re proposed amendment to FRAct making maximum discount rate at all FRBaaks 12/16 Liberty Bank of St. Louis: Conversion of, into a trust company, with assets of Central National Bank of St. Louis 12/21 Liberty Bonds: Limitation of, to market value, also Victory notes, offered as collateral security to MBank of Dallas; letter re, from Dallas 12/ 7 Overissue of First, to First National Bank of Bethlehem, Pa,; advice re, from riRBank of Philadelphia, as accounting for overissue of interim certificates by the RBank 9 /17 Purchase of, in open market, by RBank of Dallas for employees 11/30 Liberty National Bank of New York City: Inquiry from, re eligibility of certain bankers' acceptances if finished automobile tires are substituted for raw rubber daring life of bill 11/30 Reply of Board, declaring ineligible 12/ 1 Letter to, re limitation on drafts drawn by foreign governments 10/19 Copy of above letter ordered furnished Comptroller of Currency and Chairman of ERBank of New York 10/19 Lincoln Trust Co. of New York: Permission granted, to accept for purpose of creating dollar exchange in.Argentina, Peru, and Chile 7 /27 Live Stock Industry: Resolution of National Live Stock Exchange requesting aid of ERSystem for,. transmitted by President of Chicago Live Stock Exchange 7 /21 Loans: (See under "Call Loans") Call: Changes in,to member banks on their collateral notes secured by Govt. war obligations; memo. proposing, sent ERBanks of Philadelphia, Richmond, Atlanta, and Dallas 7/6 (See under "Cotton Loans"). Cotton: Eligibility of paper representing loans to motor transportation company; views of Board re, in letter to Gov. Morss of Boston 12/ 7 Policy of ERBoard re loans to member banks on paper secured by Govt. war obligations; letter from Board to ERBanks of Atlanta and Dallas defining, 7 /15 Railroad: (See under "Railway Loan Advisory Oommittee") Los Angeles Bank: Examinations of large; advice from FRAgent Perrin re arrangements made to join State authorities in, during next thirty days; members of Los Angeles branch to assist in, 11/ 9 103a 1040 960 771 961 964 967"8 657 657 650 643 59 ' 46 90 631 910 Los Angeles Trust & Savings Bank: Branches established by, Louisiana: Law to prevent ERSystem from forcing banks of, to collect at par; views of Counsel re, requested by Dallas; reply of Governor approved 9 /30 604 8 /31 733 Irma McLean, G. P., Senator from Connecticut: Five proposed bills to Congress submitted to Board by, re12/ 9 questing opinion; reply authorized Senate on views requesting from, letter Reply of Board to 12/14 Bills 4562 and 4563 Mail Transfers: Advisability of abrogating practice of purchasing, at present 12/14 time; letter from FRAgent at Dallas re, Maine Central Railroad Co. Form of loan of 41,653,000 to, approved upon recommendation 10/27 of Railway Loan Advisory Committee Louis, Missouri: Manchester Bank, St. Authority granted, to reduce reserve requirements from 13;; 12/21 to lo,;; on demand deposits Manufacturers' Record: Reply of Gov. Seay to criticism of FRBoard by,.and asking 10/12 approval of circulation of letter re, suggestCleveland from letter by; published Statements ing securing from American Bankers' Asso. endorsement of 10/12 policies, etc., of FaSystem Marketable Staples: See "Readily Marketable Staples" and "Staples" Marketing of Crops: Board's policy re assistance to be given farmers in; statement re, requested by representatives of Washington 10/12 Bureaus of farm organizations Marketing of Wheat Crop of U. 6. for 1920: 8 /31 Resolution of Rotary Club of MOSCOW, Idaho, re, Mathewson, Park: Manuscript submitted by, re "Acceptance Procedure and 10/ 5 Practice"; report by Mr. Wills on, Layer, Arthur, of New York City: Request from, for reservation of title "American Overseas Trust" for corporation to be organized under Section 25(a) 7 /27 of FRAct; granted to Oct. 1st. Reservation of title extended to Nov. 1st., upon 9 /29 request of Mr. Mayer 991 1007 1009 881 1032 837 837 838 730 814 651 795 Member Banks: Liberty Bank of $t. Louis, conversion of, into trust company, with assets of Central Nat. Bank of St. Louis 12/21 Loans to, on collateral notes secured by Govt. war obligations; memo, proposing changes in, sent Ethanks of Philadelphia, Richmond, Atlanta, and Dallas 7/6 Right of, to accept drafts drawn payable in foreign countries and currencies, and whether eligible for rediscount and purchase by ERBanks; letter from Treasurer of P. N. Gray & Co. re, 10/ 5 Draft of reply and memo. by Counsel 10/ 5 Matter referred to Gov. for reply 10/ 6 Members, F. R. Board: Wills, D. C., appointed member of F. R. Board by The President, in recess 9 /22 Wills, D. C., sworn in as member of F. R.Board 9 /29 Membership in F. R. System: Applications for, disapproved Security Savings Bank, Perry, Iowa 8 /24 Applications for, withheld Sacramento-San Joaquin Bank of Sacramento, Cal.; letter from Gov. Harding to ERAgent Perrin 929 / Security Bank & Trust Co., El Paso, Texas 9 30 Applications of State banks for, withdrawn, or on which action has been deferred by State Bank Membership Committee of MBank of St. Louis; letter re, 10/ 5 Commerce Bank & Trust Co., Commerce, Ga., condition of admission as to rediscounts, waived 10/28 Dime Deposit Bank of Kulpmont, Pa., change in condition of membership approved 11/23 La Grange Banking & Trust Co., La Grange, Georgia; condition of admission as to rediscounts, waived 10/28 Policy of MBank of Chicago in acting upon applications of newly organized banks for; letter re 9 /28 Security Bank & Trust Co., El Paso, Texas; action withheld on application for admission, pending straightening out of matters criticized by Gov. Van Zandt 9 /30 Security Bank & Trust Co., El Paso, Texas; letter from ERAgent Ramsey re admission of; Board willing to consider same if unanimously recommended by Reserve Bank Committee 11/19 Small State banks newly organized; suggestion from San Francisco that they not be granted immediate membership in System 9/1 State banks; request from MBank of Atlanta for Board's opinion in re inducing, to enter System 11/22 Withdrawals: Bank of Goltry, Oklahoma, recommendation from PRAgent Ramsay for withdrawal from System 12/14 Withdrawal approved 12/21 Page Membership in F. R. System: (continued) Withdrawals: Farmers State Bank of Allen, Nebraska; approval of withdrawal from System upon certain recommendations made 12/28 by Kansas City Mercantile Bank of the Americas: Branches of, in South America; letter from national bank 11/12 examiner Daniel O. Mulloney to Comptroller re, Inquiry from Albert Strauss re propriety of his serving 7 /27 as officer or director of; no objection by Board Inquiry from Vice-President of, re eligibility of certain acceptances drawn against importation of sugar from Cuba 7 /21 8/3 Draft of reply by Governor Harding; referred 8 /4 Revised draft of above letter approved Merchants National Bank, Los Angeles, California: Board's policy re acceptance by member bank of drafts issued against unsold cotton in warehouses requested by 10/21 President Fishburn of, Merchants National Bank of Raleigh, N. C. Permission granted FRBank of Richmond to rediscount for, 8 /25 paper taken from non-member banks Board's of Acknowledgment from Richmond of receipt 8 /26 telegram re above Merrill Trust Co., Bangor, Maine: Permission granted, to establish branches at Bucksport and 12/21 Machias, Maine Metropolitan Club Building: 10/26 Letter from Story & Cobb re sale of, Internal of Revenue: Commissioner Meyers, Acting Advice requested by, re powers of Commissioner under Section 406 of Revenue Act, for postponing date of payment of estate taxes where not possible for estates to raise 8 /27 funds Board: P. R. Member, C., Adolph Miller, Appointed member of Executive Committee for period expiring 8 /19 Oct. 1, 1920 Miller, Sorrel, Consulting Engneer: Compensation and expenses authorized for, daring attendance at conference at Bureau of Standards Sept. 15th., in re 9 /14 vault construction tests Minneapolis National Bank, Minneapolis, Minn. • Permission granted, for reduction in required reserves as 10/11 to demand and time deposits Missouri Pacific Railway Co. Form of loan of 48,871,760 to, approved upon recommendation 10/26 of Railway Loan Advisory Committee 1055 923 651-2 643 665 671-2 867 713-15 720 1040 877 725 702 764 822 873 XC page Moehlenpah, Henry A., Member of F. Rs Board: Statement by Governor in re expiration of term of office 8 /12 Monday Lunch Club: Request from National Association of Manufacturers that member of P.R. Board address, Oct. 25th. 10/19 Mondell (Representative): Letter from, complaining as to treatment accorded wool industry by FRaystem 7 /20 Montana: Financial, commercial, and agricultural situation in; letter from 'U. M. Buckles, national bank examiner, re 11/19 Monthly reports from RBanks to Board submitting number of officers and employees, and salaries paid; memo. of Mr. Hoxton recommending, 10/ 6 Monthly Reports on Business Conditions: (See also "Reports on Business Conditions") Monthly Summary of .Business Conditions: Distribution of mimeograph copies of; memo. of Mr. Emerson re, 10/12 Recommendation of Mr. Miller that advance statement on, be supplied without charge to all subscribers of large edition of Bulletin requesting same; approved 10/21 Morgenthau, M., Jr. Letter from, suggesting acceptances for building material be made eligible for discount by FRBanks 7/2 Reply of Gov. Harding approved 7/2 Motor Transportation Co. Eligibility of paper representing loans to; views of Board re, in letter to Gov. Mores of Boston 12/ 7 Mount City Trust Co., St. Louis, Mo. Authority granted, to reduce reserve requirements. from 13); to 10,; on demand deposits 12/21 Mulloney, Daniel C., National Bank Examiner: Copy of letter from, to Comptroller, from Bogota, Columbia 11/16 Murray, Prentice & Howland of New York City: Form of agreement forwarded to, to be used between Equitable Eastern Banking Corporation and FRBoard.under Section .25 of FRAct 11/18 Mutilated F. R. Notes: Shortage in shipment of, from FRBank of Dallas; letter re, 8 /24 National & State Bankers' Protective Association: Action taken by RBanks since conference between representa— tives of, and Board, May 1st., in encouraging banks to remit at par; letter from President Claibourne re, and reply of Gov. 7/6 684 852 640 940 633 633 666 593. 591 982 k 594 XCI Page National Association of Credit Men: • Advice from, of secrecy in assignment of accounts re8 /11 ceivable in connection with credit transactions ers: National AssOciation of Manufactur Request from, that member of Board address meeting of 10/19 Monday Lunch Club on October 25th. National Bank Examiners: See under"Examiners" National Bank Notes: Deposits made through. ERBanks on account of 5;; fund for redemption of; copies of letters re, to Governors of all FRBaaks but Boston and Chicago, submitted by Asst. 11/ 3 Secretary Gilbert of Treasury TexagHouston, Commerce, of Bank National Reply-of Gov. Van Zandt to, re FRBoard's indemnity agree11/18 ment for acceptances York New City: Commerae, of Bank National Application of, for permission to accept for purpose of creating dollar exchange in Australia and New Zealand; 11/30 action deferred 12/ 2 Docketed for December 3rd. 12/ 3 Matter postponed 12/ 7 Opinion of Counsel re, National Bank of Cuba: Drafts drawn by, left blank as to identity of drawee, received by Guaranty Trust Co. of New York; statement by Comptroller re, suggesting immediate elramination by Board 12/ 3 of latter bank National Bank of Derby Line, Vermont: 10/26 Permission granted, to reduce capital stock to ;)1.00,000 National Bank of Waterville, New York: 8 /26 Reduction in capital stock from 4150,000 to 475,000 National Banks: Applications of, for permission to purchase stock in corporations organized under Edge Lau; memo. of Counsel re 12/14 method of handling, ns corporatio in Certain, authorized to purchase stock organized under Edge Lau 12/14 (See auxiliary minutes, of date) r to Comptrolle of reply Expediting of mergers affecting; Gov. LIiller of Kansas City stating procedure necessary 11/ 4 in, bonds in Gov. balances Investment by, of number of trust when latter are properly earmarked; letter from RBank of 11/22 Philadelphia asking if permissible, of Clayton in violation acting of, Letters to directors 9/7 Anti-Trust Act 678 852 694 937 963-1 970 974 979 975-6 875 717 1006 1006 899-900 945 748 XCII National Banks: (continued) No applications from, for sale of bonds under Section 18 of FRAct for quarter ending June 30; 'advice from Asst. Treasurer of U.S. 7/1 Power of, exercising fiduciary pavers under Section 11(k) of Act, to engage in business which a State trust company can carry on under laws of same State; inquiry from Fort Worth National Bank 8 /13 Reply of Gov. Harding 8 /13 questionnaire re rates on loans to customers; report by Comptroller giving brief summary of replies to, and suggesting reduction in certain discount rates 8 /26 Statement by Gov. Harding disapproving reduction in discount rates until after moving of crops 8 /26 Right.of, to invest in stock of international finance Corporations; letter from Board to RBanks re, 12/24 Subscriptions to F. R. Bank stock by newly organized; Memo. of Asst. Counsel Angell 7 /14 National City Bank & Trust Co., Marion, Ohio: Permission granted, to exercise fiduciary powers upon approval of charter by Comptroller of Currency 9/7 National City Bank of New York: Examination of five European branches of; report of recent, by national bank examiner Norris 8 /26 Transfer of Spanish branch, including offices at Madrid and Barcelona, to International Banking Corporation 7 /20 National Grange: Letter from Secretary of Treasury to Gray Silver representing, re agricultural credit situation 9 /29 National Live Stock Exchange: Resolution of, requesting aid of FRSystem for live stook industry, transmitted by President of Chicago Live Stock Exchange 7 /21 National Wool Growers' Association,: Invitation to Gov. Harding from, and from Senators Smoot & King, to address annual convention of Association at Salt Lake City in January 10/12 Request from, that Board rule against eligibility of acceptances based upon importation of foreign wool 11/22 New York Central Railroad Co. Form of loan of 426,775,000 to, approved upon recommendation of Railway Loan Advisory Committee 12/23 New York, New Haven, & Hartford R. R. Co. Form of loan of ,9,630,000 to, approved upon recommendation of Railway Loan Advisory Committee 12/18 New Zealand: See under "Dollar Exchange" 589 686 686 72 ' 13 W: ) .2 624 749 721 638-9 801 64 836 948 104/ 109 page Norris, Frank L., National Bank Examiner: Continuation of salary at rate of A 2,500 per month for twenty-one days after return from Europe, requested by 10/28 Comptroller; ho action Draft of letter by Gov. Harding re above; matter 11/ 9 postponed 11/11 Action again deferred complication Explanation by Deputy Comptroller Kane re which has arisen re passing of account of Mr. Norris 11/12 by Auditor of Treasury to advised Comptroller Original action in matter; request Board for information re, to submit to 11/12 Auditor of Treasury of Bank Philadelphia: of F. R. Norris, George W., Governor . Discussion by, with ARBoard, of confidential memo. on member bank collateral notes secured by war obligations, 7/8 and effect of proposed plan in Philadelphia district of New Bank American York: North Transfer through, of funds to Bolshevik Russia, for Jewish relief purposes; letter from Asst. Secretary of 12/ 7 Treasury re, 12/ 7 Mr. Wills authorized to investigate North Dakota: Financial situation in; letter to Comptroller re, from chief national bank examiner in ninth district, with 12/ 7 special reference to Bank of North Dakota Northern Pacific Railway Co. Form of loan of ;g5,000,000 to, approved upon recomendation 11/18 of Railway Loan Advisory Committee Northwestern National Bank of :Jinneapolis: Inquiry from Minneapolis if in substantial competition 12/ 7 with Capital National Bank of ot. Paul Northwestern University School of Law: Invitation to RAgent Ramsey to teach at next summer's 11/24 session of; Board favorable 885 910 918 921 921 608 980 980 984 933 982 955 110f! Office of the Comptroller of the Currency: See under "Comptroller of the Currency" See also under "Staff of F. R.Board" Ordnance Department: Board asked to request, for material for use in providing 12/28 protection for building of RBank of Cleveland Oregon Constitution: Proposed amendment to, to establish maximum rate of interest 10/ 5 memo. of Counsel re, and discount in State at 10/12 Hamlin Report by :.1r. 1057 812-13 333 XCIV page Organization Chart, P. R. Board: Changes in, suggested New form of, approved Orient: American credit situation in; lettor from Chairman of U. S. Shipping Board re, Owen, (Senator) Robert L. Letter from, criticizing present policies of FRBoard,with reply Letter from, making certain criticisms of policies of ERBoard Reply of Board Letter to Board from, Nov. 18th., published in local newspaper; statement by Governor Immediate release to press of Gov. Harding's reply, Nov. 29th., authorized 10/ 1 10/12 807 824 8 /24 708 10/26 877 11/19 11/29 941 958 12/ 2 972 12/ 2 972 P. N. Gray & Co. See "Gray, P. N., & Co." Packers' Paper: Treatment of, by FRBank of Atlanta; letter from 3ov. Harding to Gov. Allborn re, 8/3 Paddock, 7d. W., Chief, Division of Examination: Resignation, effective Oct. 1st. 9 /22 Paper: Automobile; protest from Detroit Clearing House Association against proposed action of certain FRAgents in discriminating against, 9 /22 Commercial and agricultural; Mr. Wills authorized to increase basic rate for, at Kansas City, from 6;; to "61 at discretion 11/ 4 Cotton factors'; letter from ERBank of St. Louis re, 10/ 5 Cotton factors'; letter from Gov. Harding to ERAgents and Governors upholding ruling of Board that not eligible for rediscount by ERBanks 10/26 Cotton factors'; memo. of Mr. Hamlin re, and re commission merchants' and cold storage warehouse paper 10/26 Cotton factors'; telegram signed by various senators and representatives of Georgia urging Board to reconsider its ruling re, 10/20 Eligibility of, representing loans to motor transportation company; views of Board re, in letter to Gov. Morss 12/ 7 Treatment of packers', by FRBank of Atlanta; letter from Gov. Harding to Bank re, 8/3 665 786 785 900 812 871-2 871-2 862 982 665 XCV Page Paper Market of New York City: at Weekly report on commercial, submitted by Asst. Eftlgent 10/19 New York Par Campaign: s Action of ERBanks since conference between representative Board, and Asso. ive ' Protect Bankers of National and State May 1st., in encouraging banks to remit at par; letter 7/6 re, from President of Association, & reply of Gov. Par Clearings: Copy of pamphlet proposed to be issued by MBank of Boston 11/19 re, Par Collections: g exchange Law passed by South Dakota Legislature re, allowin 7 /13 charges on checks to banks forcing from RSystem prevent to Louisiana law collect at par; views of Counsel re, requested by Dallas; 8./31 reply of Governor approved Paraguay: Banco Mercantil, suspension of payment by, Nov. 11th.; notice 11/18 from Secretary of State tion: Corpora Banking Park Union Foreign Permission granted, to accept for purpose of creating dollar 106 exchange in Venezuela d Pennsylvania Railroa Co. Form of loan of „6,780,000 to, approved upon recommendation 11/11 of Railway Loan Sdvisory Committee .Pension Committee: 11/30 Conclusions of; report re, from RAgent Jay of New York Fee of special counsel for proposed Inter-Federal Reserve 7 /20 Bank; letter from Deputy Gov. Harrison of New York re, /3 a Maximum fee of $7,500 approved for aounsel Pension System for Officers aria Employees of F. R. Banks: Letter from Richmond asking for Board's conclusions re in12/15 auguration of, ated inaugur be not will system ' Board to advise Bank that before securing opinion of Attorney General re its 12/15 legality Picher National Bank, Picher, Oklahoma: Application of, for stock in RBank of Kansas City; letter 7 /14 from Board to ERAgent re, Pittman Act: Repealing of; reasons favoring, given by J. E. Crane, Asst. 10/20 • Director of Div. of Foreign Exchange Board: R. F. Platt, Edmund, Vice-Governor, a /19 Appointed member of Bulletin Committee of vernor Vice-Go as ting, Order of "The President" designa 7 /27 FRBoard for period July 23, 1920 - Aug. 10, 1922 meeting of purpose for Boston visit to Requested by ERBoard 8 /17 Directors of RBank of Boston 852-3 594 941 619 733 932 929 918 961 638 665 1019 1019 624 . 861 702 651 694 XCVI Policies of F. R. Board: Criticism of present; letter from Senator Oaan containing, and reply of Board 10/26 Criticisms of, from various organizations and individuals in ninth and tenth districts, with suggestions re changes 11/24 General letter of reply approved, copy to be sent all FRBanks 11/24 Letter from Senator Owen criticizing, 11/19 Reply of Board 11/29 Request from Managing Director of Farmers' National Council for certain data and information re, 10/21 Poor, Henry V., of Larkin, Rathbone & Perry, N. Y4 City: Letter from Board to, re reservation of title "Foreign Trade Financing Corporation" for proposed corporation to be organized under Edge Act 12/ 7 Request from, for reservation of title "Foreign Trade Financing Corporation" for additional thirty days from Jan. 3, 1921; approved 12/28 Price, Waterhouse & Co. Letter from, suggesting sub-division of item "accounts receivable" in all authorized forms of financial statements 11/ 8 Preparation of circular authorized, to call attention of FRBanks to above 11/ 8 Promissory notes of Textile Banking Corporation not eligible for discount by FRBanks; letter from ERBank of New York to corporation stating, 7/6 a77 1. 957 " 957 943, I 958 861 982. 1056 906 908 601 • Quarters, F. R. Board: Division of Reports & Statistics: Lease of storage room on sixth floor of Southern Bldg. for use of, approved 8 /13. Rental of rooms by Board for; letter from Manager of Southern Realty Corporation re; proposition accepted 11/30 Status of Board's lease for; memo. of Counsel re, and letter from Gov. Harding to management of Southern Bldg. 7 /21 Suggested lease of, in Federal National Bank Bldg.; memo. of Mr. TrilPrson re, 9 /17 Railway Loan Advisory Committee: Atlanta, Birmingham & Atlantic Railway Co., loan of ,ig.00,000 to, 8 /11 661 962 645 611 XCVII Page Railway Loan Advisory Committee: (continued) Loans: ,000 to, 10/11 Baltimore & Ohio Railway Co.,form of loan of 43,000 0 to, for Bangor & Aroostook. Railroad Go., loan of 420,00 9 /22 ments additions and better 12/28 ,479 to, Boston & Maine Railroad, form of loan of 46,656 e of $2,000,000 Carolina, Olinchfield, & Ohio Railroad, advanc 7/8 to, loan of Carolina, Clinchfield, & Ohio Railroad, form of 10/11 41,000,000 to, 00 of 4300,0 loan of form Co., y Railwa Central Mew England 11/16 to, ,000 of 48,000 Chicago & Western Indiana Railroad Go., loan 8 /27 to, 00 4276,0 of loan Chicago Great Western Railroad Co., form of 10/26 to, of Chicago Great Western. Railroad Co., farm of loan 12/ 1 4240,000 to, of Chicago Great Western Railroad Co., form of loan 12/21 41,929,373 to, of form Chicago, Indianapolis & Louisville Railway Go., 11/18 loan of 4200,000 to, of loan of form Chicago, Rock Island & Pacific Railway Co., 10/ 5 02,000,000 to, loan of form Co., Chicago, Rock Island and Pacific Railway 11/22 of 47,862,000 to, 8 /27 Erie. Railroad Co., loan of 48,000,000 to, of loan of Fort smith & Western Railroad Co., form. 12/ 8 4156,000 to, under to, 0,000 419,00 of Great Northern Railway Co., loan certain conditions, recommended by interstate Commerce 8 /26 Commission; suggestions re, from Mr. McLean 11/ 3 to, ,000 42,010 of loan of Great Northern Railway Co., form 11/30 to, loan of form Co., ad Gulf, Mobile & Northern Railro ,000 of 44,440 loan of form Illinois Central Railroad Co., 10/21 to, of loan of form Co., y Railwa Kansas City, Mexico & Orient 10/19 $2,500,000 to, 10/27 to, ,000 $1,653 of loan of form Maine Central Railroad Co., 26 to,10/ ,760 48,871 of loan of form Missouri Pacific Railway Co., 5,000 426,77 of loan of ,form New York Central Railroad Co. 12/23 to, loan of form Co., ad Railro d. New York, New Haven & Hartfor 12/18 of 49,630,000 to, ,000 of 46,000 loan of form y Go., Northern Pacific Railwa 11/18 to, 11/11 to, ,000 46,780 of loan of form Pennsylvania. Railroad Co., 821 783 1057 612 821 928 725 874 966 1039 933 elo 944 725 986 724 894 960 865 852 881 873 1047 1029 933 918 XCV III Page Railway Loan Advisory Committee: (continued) Loans: Rutland Railroad Co., form of loan of 061,000 to, 12/21 Salt Lake and Utah Railroad Co., loan of 0235,400 to, 7 /27 Seaboard Air Line Railway Co., loan of 06,073,400 to, 9 /21 Terminal Railroad Association of St. Louis, loan of 0896,925 to, 9 /27 Trans—Mississippi Terminal Railroad Co., form of loan of 01,000,000 to, 12/30 Virginian Railway Co., form of loan of 01,000,000 to, as first installment of loan for 42,000,000 10/12 Western Maryland Railway Co., loan of .300,000 to, 8/3 Wheeling & Lake Erie Railway Co., form of loan of 02,460,000 to, 10/20 Salaries: Holcombe, (Mrs.) L. F., salary increased 7 /27 Stellwagen, S.U., Secretary, salary increased 8 /31 Staff: Crittenden, (Mrs.) Eunice; temporary appointment as stenographer 7 /13 Stenographers; request for employment of two additional; referred to Governor with power 8 /26 Ramsey, Judge Wm. F., F. R.Igent at Dallas: Invitation to, from Northwestern University School of Law to teach at its next summer's session; Board favorable 11/24 Readily Marketable Staples: Tractors and business automobiles as; request from Deputy Comptroller of Currency for statement by Board re, 8 /11 Reply of Governor Harding 8 /12 Real Estate: Holding of, by FRBanks; telegram from Gov. Fancher of Cleveland re, 7 /27 Red River Valley Trust Co., of Paris, Texas: Acceptances it purposes to make, pursuant to provisions of recent Act of Texas Legislature; letter from Deputy Gov. Talley of Dallas re, 7 /29 Reply of Governor Harding 7 /29 Redemption Division of Comptroller's Office: See under "Comptroller of the Currency" See under "Staff of F. R. Board" Redemption of National Bank Notes: Deposits made through MBank& on account of 5,;L fund for; copies of letters re, to Governors of all FRBanks but Boston & Obicago,submitted by Asst. Secretary Gilbert of Treasury "Rediscount of Cotton Factors' Paper": Circular entitled, submitted by FRBank of Richmond Reply of Governor Harding Revised circular submitted log 1 661i , 779 I 787 1066 0 666 861 90 679 684 65g 60 669, 594 754 754 744 XCIX Page Rediscounts: d, Acceptances Staple Cotton Cooperative Association of Greenwoo ity eligibil growers; cotton for make to Idississippi purposes 8 /18 of, for rediscount by FRBanks F. R. Bank of Atlanta: 7 /20 By FRBank of Boston 7 /20 7 /29 8/3 8 /11 8 /17 9 /21 9 /28 11/18 12/ 7 7/8 By MBank of Cleveland 7 /13 7 /29 8/3 8/3 8 /4 8/5 8 /11 8 /17 8 /18 8 /19 8/24 8 /25 8/26 8 /31 9/2 9/7 9/9 9 /14 9 /14 9 /17 9/28 9 /29 9 /30 10/ 5 10/ 5 10/ 6 3.0/la 10/15 10/19 10/20 10/21 10/26 699 634 636 656 662 675 690 778 788 931 978 609 616 656 663 664 670 673 676 690 697 701 706 711 717 729 741 746 758 761 762 770 788 793 802 aoa 809 817 832 845 852 860 864 873 Rediscounts: (continued) F. R. Bank of Atlanta: (continued) By FRBank of Cleveland 10/27 10/28 11/ 3 11/ 3 11/ 8 11/ 9 11/10 11/16 11/16 11/22 By MBank of New York B MBank of Philadelphia: Limitation upon rediscounts of, that will be accepted by Cleveland; resolution re, forwarded by Cleveland Copy of above resolution authorized by Board to be forwarded to Atlanta for consideration of its officers and directors Letters from Governor at Atlanta and Chairman of Board stating position taken by Atlanta re Cleveland's resolution Letter from 'Jr. Wills to Atlanta re resolution 11/23 11/21 11/30 12/ 2. 12/ 7 12/ 8 12/10 12/11 12/14 12/16 12/21 12/22 12/28 7 /13 7 /13 7 /20 7 /22 7 /27 7 /27 9 /17 9 /21 9 /22 9 /28 11/22 12/ 7 12/23 12/28 12/30 12/ 7 880 1 83 693 894 905 909 915 927 931 944 960 954 960 969 918 986 994„ 100.1 100 100. 109 104 1054 616 618 636 646 649 1 650 710 718 70 168 943 918 978 12/ 9 969 12/11 12/15 1004' Cl Page Rediscounts: (continued) F. R. Bank of Atlanta: (continued) Undiminished borrowings by, reported by :a'. 'dills; latter authorized to supervise all rediscount operations of Atlanta with Cleveland F. R. Bank of Boston: Relations of, with FRBank of Dallas, with particular reference to rediscounting of customers, notes secured by Govt. obligations; letter from Gov. LIorss P. R. Bank of Chicago: By MBank of Boston By RBank of Cleveland By RBank of New York F. R. Bank of Cleveland: Large volume of rediscounting by, for other FRBanks; attention called to resolution adopted by Bank Sept. 10, re, and matter referred to committee for investigation Observance of certain conditions by FRBanks rediscounting with; resolution of Board of Directors re, Rate of 7),4 approved on rediscounts between FRBanks at request of, regardless of class of paper offered Resolution by, re limitation upon rediscounts for MBank of Atlanta Copy of above resolution authorized by Board to be forwarded to Atlanta for consideration of its officers and directors Letters from Governor at Atlanta and Chairman of Board stating position taken by Atlanta re Cleveland's resolution Wills to Atlanta re Cleveland's Letter from resolution Undiminished borrowings by FRBwaks of Atlanta and Dallas reported by Hr. Wills; latter authorized to supervise all rediscount operations between said banks andFRBank of Cleveland P. R. Bank of Dallas: By MBank of Boston 11/30 963 a 698-9 /18 7/6 7/6 7/8 9 /22 9 /28 10/21 10/26 7/6 7/13 7 /20 596 596 609 783 788 864 873 596 616 635 9 /30 804 11/ 8 906 8 /31 733-4 12/ 7 978, 12/ 9 989 12/14 1004 12/15 1021 11/30 963 7 /1 7/6 7 /14 7 /20 7 /27 588 596 623 635 648 676 690 6/11 8 /17 CI1 Rediscounts: (continued F. R. Bank of Dallas: (continued By RBank of Boston By FRBamk of Boston, of member bank promissory notes secured by Govt. obligations, the latter accepted by Dallas at face, rather than market, value; letter from Boston By MBank of Cleveland 6 /16 9 /21 9 /26 10/12 7/ 7 7 /13 7 /20 7 /22 7/29 8/3 8 /11 a Al 8/17 a /19 8/24 8 /31 8 /31 9/1 9/7 9/a 9/14 9 /17 9 /21 9 /26 10/5 10/ 6 10/14 10/19 10/26 10/27 11/ 3 11/ 4 11/8 11/9 11/10 11/11 11/16 11/1a 11/22 11/30 12/ 1 12/ 2 12/7 12/10 12/11 12/14 605-6 617 656 646 661 664 676 677 691 701 706 28 7 7 763 761 .771 7 769 806 a16 a31851 873 860 130 891 916 911 93/ 951 944 960 966 969 978 9 100 CIII Page Rediscounts: (continued) P.R. Bank of Dallas: (continued.) By MBank of Cleveland 1 By FRBank of New York: 4 i . ! , i / l l 5 7 3 5 ; 5 ' 3 1 I / , 9 8 - 6 11 0 0 1 . 6' 1 ,5 :1 By MBank of Philadelphia Undiminished borrowings by, reported by Ur. Wills; latter authorized to supervise all rediscount operations 11/30 of Dallas with Cleveland F. R. Batik of Kansas City: 7/ 7 BY 'MBank of Boston 7/13 7/20 7/27 8/11 8/31 9/1 9/14 9/21 9/28 9 /30 10/12 10/12 10/14 10/19 10/20 10/21 10/26 10/28 11/3 11/4 •11/16 1 By MBank of Cleveland 51 A 12/15 12/16 12/28 12/28 12/30 7 /13 7/22 7 /27 6/3 8/3 9/29 11/22 : 0 i9 /9 ' 4Y ga 12/21 7/6 7/20 7/29 8/3 8/24 8/31 9 /14 9 /14 1017 1022 1054 1055 1065 617 646 648 662 664 793 943 963 604 616 635 648 675 730 735 762 777 789 803 831 832 841 852 860 864 873 883 893 897 927 1030 597 634 656 664 706 729 761 762 ,1 CN Page Rediscounts: (continued) F. R. Bank of Kansas City: By EKBank of Cleveland (continued) 9 /21 9 /21 9 /22 9 /28 9 /30 10/12 10/14 10/15 10/21 10/2a 11/ 3 11/ 3 11/10 By FRBank of New York By MBank of Philadelphia 11/11 11/16 11/18 11/23 11/30 12/ 1 12/ 2 12/ 7 12/ 8 12/21 12/22 12/28 12/28 7 /20 8/3 9 /29 9 /30 9 /22 12/ 7 12/10 12/11 12/14 1415 12/16 Paper rediscounted by, for member banks, which has originated in, and been endorsed by, non-member banks; telegram from Board to Ur. Wills re same carrying higher base rate 11/ 5 F. R. Bank of Ilinneapolis: By FRBank of Boston 7 /13 7 /29 8 /4 8/5 8 /11 8 /11 777 778 782 788 803 832 842 845 864 883 893 894 915 917 927 931 950 960 965 969 978 986 1030 1043 1054 1055 636 662 793 eoz 782 978 994 1001 1003 1017 loza 902 615 658 670 674 676 677 cv Page Rediscounts: (continued) F. R. Bank of Lanneapolis: (continued) By FRBank of Boston ••• 8 /la a /19 8 /21 8 /24 8 /31 9/1 9/7 9 /21 9 /28 10/ s 10/14 10/20 10/21 10/26 10/28 11/3 11/ a 11/ 9 11/10 11/11 106 11/30 By FRBank of Cleveland 7/6 7/ 7 7/8 7 /13 7 /20 7/22 7 /27 8 4/ 3 a /11 a /12 a /19 a /24 a /24 a /31 9 /1 9/7 9 /17 9/2]. 9 /28 9/28 9 /29 10/ 5 10/12 697 700 704 707 728 736 746 778 789 808 841 860 864 873 883 893 905 909 915 917 927 960 596 604 609 615 634 646 649 663 677 682 700 704 707 729 736 746 771 777 788 789 793 808 832 page Rediscounts: (continued) 2. R. Bank of Minneapolis:(continued) By MBank of 01eveland 842 845 851 873 897 10/14 10/15 10/19 10/26 11/ 4 11/16 11/18 11/22 11/23 11/30 12/14 12/23 12/28 12/30 931 944 950 960 1003 1048 1054 1065 7 /27 8/3 649 663 9/8 10/12 11/ a 12/ 2 12/ 7 12/16 12/21 752 832 927 By FRBank of New 'York By FRBank of Philadelphia: F. R. Bank of New York: By ERBank of Boston 693 969 978 1022 1030 9/2742 747 9/7 873 10/26 11/ 3 893 11/12 920 .By FRBank of aeveland 9/2 9/7 10/26 11/ 3 11/ 8 11/32 By FRBatk of Philadelphia 10/26 11/ 8 R. Bank of Richmond: Authorized to rediscount for Merchants National Bank of Raleigh, N. 0., paper taken from non-member banks 8 /25 Acknowledgment from Richmond of receipt of Board's telegram re above '8 /26 742 747 873 893 905 920 873 905 7130 720 CVII Page Rediscounts: (continued) F. R. Bank of Richmond: (continued) By RBank of Boston 7/6 7/7 7 /13 7 /21 8/3 8 /11 8 /17 a /la 8 /26 a /31 9/2 9/a 9 /14 9 /17 9 /az 9 /28 9 /29 9 /30 10/ 5 10/12 10/14 10/20 10/26 11/ 3 11/ 9 11/22 11/30 12/ 7 12/14 12/28 By FRBank of Cleveland 9/1 609 615 634 636 648 657 662 676 690 706 735 9 /14 9 /30 761 802 7/8 7 /13 7 /20 7 /20 7 /27 7 /29 8/3 a /11 8 /17 a /2.4 By FilBank of Philadelphia 596 604 615 642 662 676 690 696 716 729 741 753 761 771 782 789 793 802 808 831 841 860 873 893 909 943 960 978 1003 1054 Page Rediscounts: (continued) F. R. Bank of Richmond: (continued) By Ethank of Philadelphia F. R. Bank of at. Louis: By MBank of Boston 10/12 10/19 10/26 831 851 873 7/6 7 /20 7 /27 8/3 8/5 8 /11 8 /17 8 /19 8/24 6/25 8 /31 9/1 9 / 2, 9/7 9 /17 9 /21 9 /28 10/ 5 10/12 10/2G 10/21 11/ 3 596 636 649 663 674 677 691 700 704 712 728 736 740 747 770 777 789 808 832 860 864 894 7/6 7/ 7 7 /13 7/20 9/7 9•/ 8 9 /14 9 /17 10/ 5 10/ 5 10/20 11/ 3 597 604 617 634 746 753 762 770 808 809 860 893 7 /20 7 /22 9 /21 10/19 10/27 11/ 4 636 646 776 851 880 697 By MBank of Cleveland By MBank of /lbw York By ERBank of Philadelphia OIX Page Rediscounts: (continued) F. R. Bank of San Francisco: Extension to plan of Cleveland proposed by, giving lending FRBank choice in matter of paper put up 11/24 by borrowing bank Inter-Federal Reserve Bank: Rate of 74;; approved on, effective Sept. 7th., at request of Cleveland, regardless of class of paper 8 /31 offered paper of class of less Rate of 7/, approved on, regard 9 /8 rediscounted, effective Sept. 13th. ized author be to n, certai Member banks in tenth district; for thirty days to offer for rediscount to MBank of Kansas City eligible paper which may have originated 11/ 4 in non-member banks Procedure, when rediscounting an unsecured note for member 7 /20 bArk; inquiry from Gov. Young of Minneapolis l's Gov. Harding authorized to reply in line with Counse 7 /20 opinion of July 19th. Refusal of Omaha branch to rediscount for First National by Bank, Rawlins, Wyoming, domestic acceptances secured am telegr t; transi in wool ng coveri bills of lading 7/7 from Kansas City Resolutions recently adopted by Cleveland limiting, for 12/16 Atlanta; letter from Board to Atlanta re, 7/1 Status of, between FRBarks; report re, 7 /6 7/ 7 7/8 7 /13 7 /14 7 /15 7/20 7 /21 7 /22 7 /27 7 /29 8/3 8 /4 8/5 8/1]. 8 /12 8/13 • 8 /17 8 /18 8 /19 8/24 8 /25 955 733-4 755 899 637 637 605 1023 588 597 603 610 615 623 632 633 642 645 648 656 661 670 674 677 682 687 691 697 701 704 711 CX Page Rediscounts: (continued) Status of, between RBanks; report re, 8/26 8 /31 9 /1 9/2 9/7 9/8 9/9 9 /14 9 /15 9 /17 9 /21 9 /22 9 /28 9 /29 9 /30 10/ 1 10/ 5 10/ 6 10/12 10/14 10/15 10/19 10/20 10/21 10/26 10/27 10/28 10/29 11/ 3 11/ 4 11/ 5 11/ 8 11/ 9 100 11/11 11/12 11/16 11/18 11/19 11/22 11/23 11/24 11/30 12/ 1 12/ 2 12/ 3 12/ 7 717 727 735 740 747 753 759 763 768 771 778 783 789 793 803 807 808 816. 831 841 845 851 860 864 872 880 883 887 893 897 901 905 909 915 917 920 927 931 939 943 950 954 959 965 969 973 978 cxI Page Rediscounts: (continued) Status of, between ERBanks; report re, 12/ 8 12/ 9 12/10 12/11 12/14 12/15 12/16 14/21 12/22 14/23 12/29 12/30 Regulations, F. R. Board: Interpretation of restriction in, re acceptances of State institutions doing foreign business in which national banks are permitted to invest; inquiry from Deputy 7 /27 Governor Harrison re, 7 /27 Reply of Governor Harding 9 /29 Revised draft of, series 1920, submitted and referred 9 /30 Approved, and ordered printed (See also "Condition Reports") Reports of Condition: Changes in condition at MBank of New York, report re, and upon general financial and business conditions in 8 /26 New York City Reports of Current Expenses of Branch Banks, F. R. System: Uniformity in rendition of; memo. of Mr. Emerson in re securing, together with letter by Governor to all FRBanks 10/19 Reports of debits to deposit accounts at ERBanks and branches; telegram to Chairmen of ERBaaks requesting discontinivirce of weekly telegraphic, 10/19 Reports an Business Conditions: FRAgents furnishing copies of monthly, to newspapers out— side of their districts; letter from FRAgent Martin 10/5 re, Instructions to FRAgents re, suggested by Mr. Miller; circular to be sent in line with recommendation 9 /17 Methods of handling, from several districts during month of October; letter from Dr. Willis detailing, 10/30 Present method of editing monthly; letter from Director of Division of Analysis & Research re, 12/14 10/ 5 Second ERDistriat; report from Asst. FRAgent Reserve requirements, renction in, Applications for, approved 12/21 Farmers & Merchants Trust Co., St. Louis v' 12/21 Grand Avenue Bank, St. Louis 1 12/21 JeffersonGravois Bank, St. Louis 986 988 994 1001 1003 1017 1022 1030 1043 1046 1060 1065 654 654 792 803 718 853 858-9 812 776 892 1005-6 -; 809 1032 1032 1032 OX1I page Reserve requirements, reduction in, (continued) Applications for, approved Manchester Bank, St. Louis Minneapolis National Bank, Minneapolis, Minn. Mound City Trust Co., St. Louis St. Anthony Falls Bank of Minneapolis Second National Bank of Allegheny, Pittsburgh, Pa. Southside Trust Co., St. Louis Tower Grove Bank, St. Louis West St. Louis Trust Co., St. Louis Applications for, disapproved LaFayette South Side Bank, St. Louis Reserves: Deficiencies in; authority of MBank of Philadelphia to suspend rediscounting privilege of member bank having chronic; inquiry re, Deficiencies in; establishment of progressive penalty rates for, by FRBank of Chicago, authorized Deficiencies in, of MBank of New York, from Aug. 30 — October 14, 1920; figures shaving, Deficiency in member bank; establishment of progressive penalty rates for, by FRBank of San Francisco Deficiency in member bank; letter from FRAgent Perrin re penalty rates for, both progressive and basic P. R. Banks: Report re reserve positions of the several, 1032 822 1032 1033 631 637 1032 1032 12/21 3.0/33. 12/21 12/21 7/15 7 /20 12/21 12M. 12/21 1034 12/21 1034 8 /17 692 12/16 1024 10/20 861 7 /14 624 12/15 1020 7/1 7/6 7/ 7 7/8 7 /13 7/14 7 /is 7 /20 7 /21 7 /22 7 /27 7 /29 8/3 8 /4 8 /5 8 /11 8 /12 8 /13 8 /17 8 /18 8 /19 8/24 8 /25 588 597 603 610 615 623 631 633 642 645 618 656 661 670 674 677 682 687 691 697 701 704 711 Page Reserves: (continued)' F.R. Banks: Report re reserve positions of the several, 8 /26 8 /31 9/1 9/2 9/ 7 9/8 9/9 9 /14 9 /15 9 /17 9./21 9 /22 9 /28 9 /29 9 /30 10/ 1 10/5 10/ 6 10/12_ 10/14 10/15 10/19 10/20 10/21 10/26 10/27 10/28 10/29 11/ 3 11/ 4 11/ 5 11/ a 11/ 9 11/10 11/11 11/12 11/16 11/1a 11/19 11/22 11/23 11/24 11/30 12/ 1 12/ 2 12/ 3 717 727 735 740 717 753 759 763 768 771 778 783 789 793 803 807 808 816 831 841 845 851 860 864 872 880 883 887 893 897 901 905 909 915 917 920 927 931 939 943 950 954 959 965 969 973 CXIV Page Reserves: (continued) F. R. Banks: (continued) Report re reserve positions of the several, 12/ 7 t / l9 12/10 12/11 12/14 12/15 12/16 994 1001 1003 1017 1022 / 12 24 12/23 12/29 12/30 Z043 1 1046 1060 1065 Special Canaaian deposits held in member banks; letter from Gov. Harding to FRBank of Chicago re reserve upon, 11/18 Revenue Act: Powers of Commissioner under Section 406 of, re postponing date of payment of estate taxes where not possible for estates to raise funds; letter from Acting Commissioner Ueyers re, 8 /27 Revised Statutes: 12/21 Draft of bill to amend Section 5236 of, Richmond Times Dispatch: Reply of Gov. Seay to editorial in, submitted by him with request for Board's views re, 9 /17 Matter referred to Governor for reply 9 /21 Robbery of F. R. Bank or LienWer Bank: House Bill 14488 re, providing that same shall constitute felony; letter from Gov. Harding to Chairman of Judiciary Committee of House of Representatives re, 12/14 Robert Morris Associates: Renewal of subscription to, by Board, approved upon recommendation of Director of Division of Analysis & Research 11/12 Rotary Club of Moscow, Idaho: Resolution of, re marketing or wheat crop of United States for 1920 8 /31 Roubles: (See"Russian Roubles") Russia: (See also "Soviet Russian) Remittances to, by New York bank, for certain charitable organization; letter from Acting Director of Div. of Foreign Exchange re, 11/18 Letter from Asst. Secretary Gilbertof Treasury re, 11/19 977 986 1 936 735 1031 775 779 1011 923 730 936 940-1 1 CXV Page Russia: (continued) Remittances to, by New York bank, etc. (continued) New York bank above referred to, to be requested to discontinue remittance, pending dicision by Department 11/19 of State exchange upon of restrictions Resolution re suspension 12/18 transactions with, transupon exchange restrictions Soviet; removal of actions between, and this country; proposed circular submitted by Treasury Department to be sent out in name 12/ 9 of Department and FRBoard ty for action responsibili assume to willing Board not 12/ 9 contemplated in proposed circular Interview between Governor Harding and Secretary of 12/10 Treasury ; report re, Transfer of funds to bolshevik, through. North American Bank of New York, for Jewish relief purposes; letter 12/ 7 from Asst. Secretary Gilbert of Treasury 12/ 7 Er. Wills authorized to investigate, Russian Bolshevik Gold: Plan for preventing shipments of, to United States, 11/ 9 submitted by Asst. Secretary Gilbert of Treasury Russian Exchange: Letter from Under-Secretary of State to Secretary of Treasury re removal of restrictions on transactions 7 /29 in, and upon importation of paper currency into U.S. Memorandum re, from J. E. Crane of Foreign Exchange 7 /29 Dept. of FRBank of New York Notification of ERBanks of blanket license for trading in, to be issued upon request of Secretary of Treasury or Dept. of State, special licenses to be required for importation of Russian rouble currency7/29 8/3 Russia, Soviet and Transactions between this country removal of restrictions upon; proposed circular submitted by Treasury Dept. to be sent out in name 12/ 9 of Dept. and FRBoard ty for responsibili assume to Board not willing 12/ 9 action contemplated in proposed circular and Secretary Harding Gov. Interview between 12/10 of Treasury; report re, with transactions on restrictions of Suspension 12/18 Russia New at York: Attache Russian Financial Request from, for shipment of certain Russian Treasury 10/27 bills to General Wrangel at Sebastopol Russian Gold: Correspondence between Asst. Secretary Gilbert of Treasury 11/11 and Dept. of State re importations of, 941 1027-1029 992 992 994-5 980 980 914 655 655 655 661 992 992 994-5 1027 881 919 CXVI page Russian Gold: (continued) Paraphrase of cablegram from American Minister at Stoald.-holth re receipt of shipment of, submitted by Asst. Secretary of Treasury 11/ 3 Russian Rouble Currency: Special licenses required for importation of, and ERBanks to be so notified 7 /29 Letter to FRAgents re above, submitted to Treasury Dept. for approval 8/3 Russian Roubles: Importation of; memo. of Counsel re, 7 /13 Shipment of gold, from Stockholm, to Brawn Bros. of New York; advice re, 9 /17 Russian Treasury Bills: Shipment of certain, to General Wrangel at Sebastopol, requested by Russian Financial Attache at New York 10/27 Rutland. Railroad Co. Form of loan of $61,000 to, approved upon recommendation of Railway Loan Advisory Committee 12/21 Ryan, A. A., of New York: Substance of interview between Comptroller of Currency and, 12/ 3 Sacramento-San Joaquin Bank of Sacramento, California: Withholding of approval on application of, for membership; letter from Gov. Harding to FRAgent Perrin authorizing, 9 /29 St. Anthony Palls Bank of Minneapolis: Authority granted, to reduce reserve requirements from 10/2 to 7,4 on demand deposits 12/21 St. Joseph. Valley Bank, Elkhart, Indiana: Interest rate of 5.,;.; paid by, on deposits; letter from Chicago re, enclosing advertisement 10/19 Salt Lake & Utah Railroad Co. Loan of 4235,400 approved for, upon recommendation of Railway Loan Advisory Committee 7 /27 Sanford Trust Co., Sanford, Maine: Granted permission to establish agency at Waterboro, Maine 10/26 Sapiro, Aaron, of Cincinnati, Ohio: Letter from, re eligibility for rediscount or purchase by _b./thanks of certain trade acceptances, and draft of reply by Counsel 10/ 6 Aamnded draft of letter of Counsel submitted. by Mr. Hamlin with favorable recommendation; entire correspondence referred to special committee 10/12 895 655 661 619 77a 881 1039 975 795 1033 654 651 874 81748 836 page Sapiro, Aaron, of Cincinnati, Ohio: (continued) Letter from, re eligibility, etc. (continued) Report of committee submitted and adopted, and inquiry 847 10/15 referred to Governor Harding for reply Orleans: New of H., Saunders, Dr. P. Letter from, re reservation of title "Federal International Banking Company", for thirty days, for corporation to 960 11/30 be organized under Section 25 (a) of FRAat on organized corporati for names g suggestin from, Telegram 906-7 11/ 8 by southern bankers under Edge Act n: Washingto Seattle, of Bank erican Scandinavian-Am Violation by, of conditions of membership; letter from 754 9/a San Francisco Seaboard Air Line Railway Co. Loan in aggregate amount of6,073,400 to, approved. upon 9 /21 779 recommendation of Railway Loan Advisory Committee Sear, George J., Governor of F. R. Bank of Richmond: Letter from, to Editor of Manufacturers' Record, re criticism of FRBoard by that publication, submitted with 837 10/12 request that Board approve circulation of same Second National Bank of Allegheny, Pittsburgh, Pa. Reduction in required reserve against demand deposits from ten to seven per cent; letter from Cleveland recommen631 7 /15 ing approval of, 7 637 /20 Approved Secret Service Division: 773 9 /17 Additional protection for FRBanks arranged by, Secretary of Argiculture Meredith: Letter from, re attitude of RBank of Kansas City towards receipts of warehouses established under U. S. 913 11/ 9 Warehouse Act Secretary of Treasury Houston: Circulars issued by, re discontinuance of Sub-Treasury 981 2/7 building in New York Letter from, to Board, re extension of time for special certificates of indebtedness maturing on or after 6 /11 678 Aug. 20th., 1920, and prior,to Aug. 20th., 1921 Letter from, to lir. Gray Silver representing National 801 9 /29 Grange, re agricultural credit situation of F. Act: R. (c) -Section Sub 11, Section 952 11/23 Proposed amendment to; referred to lir. Hamlin 956 11/24 Approved by Mr. Hamlin, subject to slight change Section 11, Sub-Section (m) of F. R. Act: Extension of provisions of; memo. of Counsel re; Board voted to recommend to Congress extension for year from 697 11/ 4 Jan. 1, 1921 Proposed amendment to; referred to Mr. Logan for incor953 11/23 poration of provision re State member banks CXVIII Page Section 22 of P. R. Act: Violation of provisions of, by a member hank; telegram from San Francisco re, and reply of Governor 8 /26 Section 25 of F. R. Act: McLean-Platt amendment to; letter from Gov. Harding to Senator McLean re, 12/23 Security Bank & Trust Co., E1 Paso, Texas: Application of, for admission to System; action withheld pending straightening out of matters criticized by Gov. Van Zandt 9 /30 Letter from FRAgent Ramsey re admission of; Board willing to reconsider, if recommended unanimously by Reserve Bank Committee 11/19 Security Sales Co. of New Orleans, La. Application of, for approval of its acceptances for purchase by FRBanks, together with correspondence, forwarded by RAgent at Atlanta 10/19 Security Savings Bank, Perry, Iowa: Disapproval of application of, for admission to System 8 /24 Senate Bill: Proposed, amending FRAct by extending limit upon agricultural paper; letter from Board to Senator McLean expressing disapproval of, 12/14 Senate Bill 4537: Amending FRAct re notes, drafts and bills of exchange of cotton factors or commission merchants; letter from Board to Senator McLean stating views re, 12/10 Senate Bill 4562 and 4563: Reply of Board to letter from Senator McLean requesting views on, 12/14 Senate Bill 4665: To amend Section 7 of FRAct; letter from Governor Harding to Senator McLean re, 12/23 Sherman, Roger, Treasurer of P. N. Gray & Co. Letter from, 're right of member bank to accept drafts drawn payable in foreign countries and currencies, and whether same are eligible for rediscount and purchase by RBanks 10/ 5 Draft of reply and memo. by Counsel 10/ 5 Matter referred to Governor for reply 10/ 6 Shipment of Mutilated F. R. Notes: Shortage in, from FRBank of Dallas; letter re, 8 /24 Shipments of Gold from China to United States: Acceptance of drafts drawn against, or advances against, by Mank of New York upon guaranteed delivery by American Foreign Banking Corporation; letter from latter re, 10/ 5 718 1050 806-6 940. 857 709 1005 999 1007 1060 813 813 820 707 809 Page Silver: Shipment of subsidiary, and minor coin, from ERBank of St. Louis and branches to member banks; ERBank 8 /17 authorized to bear expense of, from and to Transportation of subsidiary, and minor coin, 10/21 Dallas and its member banks; expenses re, Silver Dollars: Distribution of net profits accruing from shipment of, to Orient, by the three foreign banking corporations under 7 /14 agreement with Board; advice from Board to New York South. Agerica: Copy of cablegram sent by G. Amsink & Co. to their agents 11/16 In, South Dakota Legislature: 7 /13 Law passed by, re exchange charges on checks Southern Realty Corporation: Letter from Manager of, re rental of rooms by Board for Division of Reports and Statistics; proposition 11/30 accepted Mo. Louis, Southside Trust Co., St. Authority granted, to reduce reserve requirements from 12/21 13/3 to 1G, on demand deposits Soviet Russia: Removal of restrictions upon exchange transactions between, and this country; proposed circular submitted by Treasury Dept. to be sent out In name of Dept. and 12/ 9 FRBoard for ility responsib to assume willing not Board 12/ 9 action contemplated in proposed circular Interview between Gov. Harding and Secretary of 12/10 Treasury; report re, Restrictions an foreign exchange transactions with; memo. of Asst. Secretary of Treasury stating State Dept. 8 /26 desires nothing further done an proposal to lift, Termination of control of foreign exchange transactions with, and importation of Russian roubles; memo. of 7 /13 Counsel re, Staff of F. R. Board: Appeal for aid, from employees of Austrian Hungarian 12/29 Bank,of Vienna, Austria, to employees of Board Assistant Secretary: Appointment of one or more Assistant Secretaries,refer10/12, red to Executive Committee with power 10/14 as, Eddy, Walter L., appointment and salary 12/23 Eddy, Walter L., salary increased Assistant Statistician: 12/23 Goldenweiser, E- A., salary increased 692 865-6 624 926 619 962 1032 992 992 994-5 720 618-/9 1061-2 831 841 1051 1051 CMC page Staff of F. R. Board: Assistant to Governor: Emerson, R. G., appointment and salary as, 1051 Emerson, R. G., salary increased 2 831 1 ( Y/1 Assistant to Governor, office of Latterman, Katherine I., salary increased 11/ 4 698 898 Martin, (Miss) Ruth L., salary increased II/ 4 Chief Clerk: 1051 De LaMater, John, salary increased 12/23 Chief Clerk's Office: Hanford, C. W., appointment and salary as clerk1/ 912 9 1/ 4 Kean, James S., resignation as Asst. Chief Clerk 898 Comptroller's Office: Connell, J. J., salary increased 9 '14 765 George, H. L.,Private Secretary, salary increased to 43,000 per annum for period Oct. 1 — 26, 1920814 876 George, K. L., resignation as Secretary to Comptroller 1° /26 5 01 Mount, Morris Blake, appointed Secretary to Comptroller at 42,500 per annum 10/27 881 Counsel's Office: Angell, Montgomery B., Asst. Counsel, salary increased 7 / 8 613 800 Blakey, R. K., appointment as Law Clerk,recommended 9 /29 Appointment approved 9 /30 804 Logan, Walter S., appointment and salary as General Counsel 7/8 613 Logan, Walter S., General Counsel, salary increased 10/29 869 Salary adjustments of employees 1048 12/23 Wyatt, Walter, title changed to Assistant Counsel,with 7/ a 614 increase in salary Division of Analysis & Research: Computer, employment of, for thirty days 626 7 /14 Cornwall, (Miss) Ruth, Chief Clerk, leave of absence without pay for year, approved 10/19 858 Dubreau, James, appointment and salary 10/19 658 Edwards, G. 4., appointment on half—time basis 9 /14 765 Foote, Maud B., appointment for certain statistical work in Italy 1011 12/14 Gourvitch, Alexander, employment on thirty day trial basis 11/ 3 698 Grant, (Miss) Helen S., appointment as Acting Chief Clerk during absence of Miss Cornwall, at ;t11,800 per annum 856 10/19 Happersberger, Emeline, appointment and salary as stenographer 11/ 9 914 Jones, F. W., intended resignation of; advice re, 10/19 656 8/3 Mariano, John H., temporary employment of, 667 856 Owing to illness, failed to report 10/19 Page Staff of F. R. Board: (continued) Div. of Analysis & Research: Rice, M. H., Statistical Assistant; salary increased 7 /14 10/19 Further increase in salary 11/ 9 Roby, Ralph, appointment and salary /21 12 Salary adjustments; letter from Director re, 12/23 Salary adjustments; recommendation re, approved 12/30 Salary of one employee, adjustment of, Schack, (Miss) Dorothy, appointment and salary as 11/16 stenographer 9 /14 Assistant Research Van Pelt, Henry W., appointment as Division of Examination: 8/3 Baker, E. g., appointment as stenographer 9/1 increased Bartz, Charles H., salary Section; n Examinatio of Cramer, Charles H., Supervisor 11/24 ' resignation 9/1 increased Emery, Lucia M., salary in of Division Chief as t appointmen Herson, James F., 10/ 6 addition to holding title of Chief F. R. Examiner 12/23 increased salary Chief Examiner, Herson, James F., 9 /1 Milliken, (Miss) N. L., salary increased 7/6 n resignatio Nichols, Ira J., 9 /22 n resignatio of Division, Chief Paddock, W. W., with er stenograph n as resignatio J., Schopp, Arthur 9 /29 examining force leave months four for Steger, (Miss) N. T., request 7/1 without pay; disapproved 7/6 n Steger, (Miss) N. T., resignatio Division of Issue & Redemption: 7 /14 Augusterfer, Lillian F., salary increased 7 /14 increased salary Barraa, Theresa, /14 7 increased salary M., Helen Beattie, /14 7 increased salary U., Margaret Bicknell, 7 /14 Bohn, Belle H., salary increased 11/1Z increased salary Division, of Chief E., Buell, W. 7 /14 Burchard, Addie K., salary increased Changes in salaries and designation,of certain employees, 7 /13 recommended 7 /14 Cobb, Lilybec C., salary increased 7 /14 Crafford, Ada F., salary increased 7 /14 Uroe, Gertrude E., designation as typist 7 /14 Croe, Gertrude E., salary increased 7 /14 Dashiell, Searing T., designated Assistant Teller 7 /14 Dashiell, Searing T., salary increased /14 7 increased salary it., Devine, Eva /14 7 increased salary M., Drewett, Annie /14 7 Teller designated Durnbaugh, gaiter K., /14 7 increased salary Durnbaugh, Walter K., 628 856 912 1032 1048 1066 929 765 667 738 956 738 818 1051 736 599-600 786 798 588-9 599 629 629 629 629 630 92Z 630 621 630 630 630 629 630 629 630 630 630 629 CXXII page Staff of F. R. Board: (continued) Div. of Issue and Redemption: (continued) Emerson, Madeline C., salary increased Everett, Mary E., salary increased Fellows, Virginia U., salary increased Forsythe, Minnie H., designated Record Clerk Forsythe, Uinnie.H., salary increased Fred, Pauline O., salary increased Furniss, Natalie W., salary increased Galles, George A., assigned to clerical duty, vico Francis H. Styles, resigned Gailes, George Arthur, designated clerk Galles, George A., salary increased Garrison, Martha, designated Bookkeeper Garrison, 'Martha, salary increased Gott, Alys E., salary increased Handy, Bertha E.., salary increased Reale, S. Uyrtle, salary increased Herd, Dorothea it., salary increased Hereford, Virginia B., salary increased Herron, U. Audrey, salary increased Hester, Otis U., designated Assistant Teller Hester, Otis U., salary increased Hicks, LillianH., designated Chief Bookkeeper Hicks, Lillian H., salary increased Jenkins, Elizabeth C., salary increased King, Virginia, salary increased Kingsolving, Julia, salary increas3d Martin, Martha J., designated Bookkeeper Martin, Martha J., salary increased Mason, 3. Louisa, salary increased Meade, Fannie P. salary increased Uordecai, Rosina, salary increased Mulvihill, Mary C., salary increased Murphy, Julia D., salary increased Murphy, Ruth, salary increased Murray, Thomas J., designated Assistant Teller Murray, Thomas J., salary increased Penn, Ruthette E., salary increased Quesenberry, Caroline B., salary increased Heddington, Clara U., salary increased Reddington, John H., appointed messenger boy Reeder, Dorothy M., salary increased Sheffer, Mary E., salary increased Snead, Susan U., salary increased Soule, Mary L., salary increased StanumSky, Lillian U., salary increased Staton, Annie U., designated Bookkeeper /14 /14 /14 /14 /14 /14 /14 629 629 630 630 629 629 630 7 /13 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7/14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 7 /13 7 /14 7 /14 7 /14 7 /14 7 /14 7 /14 620 630 629 630 629 629 629 629 630 630 629 630 629 634 629 629 630 629 630 629 629 629 629 629 629 629 630 629 629 629 629 620 630 630 629 630 629 630 7 7 7 7 7 7 7 page Staff of F. R. Board: (continued) Div. of Issue and. Redemption:(continued) 7 /14 Staton, Annie M., salary increased 7 /14 Tharp, Hallie L., salary increased of Chief Tucker, William J., designated Assistant 7 /14 Division 7 /14 Tucker, William J., salary increased 7/13 Waters, (Mrs.) Emily, name dropped from rolls June 30 7 /14 Wedderburn, Helen p., salary increased 7 /14 Young, Fannie H., salary increased Div. of Reports and Statistics: 11/ 4 Baer, Isabel, salary increased punch operator, key Bowie, Helen Mae, appointment as 8/24 vice Katharine L. McKenna as salary Callahan, Frank J., appointment and 12/14 clerk-typist junior as salary and Cooke, Robert W., appointment 12/10 technical clerk key-punch as salary and Handley, Elizabeth, employment 11/12 operator as salary and Keegin, Mary Grace, appointment 11/ 9 comptometer operator punch key as appointment McKenna, Katherine G., 8 /12 operator 9 /14 Moore, Julia, resignation as and salary appointment Robillard, (Mrs.) F. R., 12/21 clerk 4 11/ increased salary Small, Edith, 12/23 increased salary Chief, Smead, E. L., 9/1 Smith, Florence E., salary increased 11/ 4 Stewart, (Miss) F. Betty, salary increased 9 ji4 Tetreault, Marguerite S., appointment as clerk 11/ 4 Walker, F. A., salary increased 9/1 Wells, Esther, salary increased Williams, (Miss) Mary C., appointment and salary as 11/ 4 clerk-typist appointWrightson, (Miss) Miriam M., key-punch operator, 10/26 mant and salary of Division proposed, for counting; ERBank notes, in lieu service now rendered by A. S. Pratt & Sons; estimate 8/3]. of cost of maintaining, submitted Employees to be relieved from work at one o'clock on. 12/23 Dec. 24th. and 31st. F. R. Note Department: Dodd, William A., ap2ointment and salary as clerk in, 12/ 9 Fiscal Agent: 12/23 Imlay, W. M.., salary increased 629 629 630 629 620 629 629 898 710 1012 997 920 912 683 765 1042 898 1051 738 898 765 898 738 898 876 732 1047 990 1051 mum/ Page Staff of F. R. Board: (continued) General Assistant: White, Fred H., resignation 11/18 General Counsel's Office: See "Counsel's Office" Gold Settlement Division: Clerk-typist, approval of appointment of, for evening work, at .3.00 d per evening Comaey, Lorne C., salary increased. 111 /33 8 Leutbecher, W. Scott, appointirent and salary as technical clerk 10/27 Whelan, George C., appointment and salary as technical clerk 11/ 4 Governor Harding's Office: McLellan, E. M.., designated. Private Secretary and salary increased. 12/23 Lwal and Pile Room: Evans, U. S., resignation as mail clerk 8 ill Seitz, S. Earl, appointment as mail clerk 8 /11 Messengers: Banks, Essex, appointment 8 /11 Changes in classification and salaries of three, 12/23 EMployment of messenger during absence of messenger Rogers, authorized 7/8 Hicks, Leroy, salary increased 10/26 Johnson, Carlisle, granted additional leave without pay 7 /20 Johnson, Carlisle, granted further leave without pay 7 /29 Johnson, Carlisle, payment of salary deducted during August for twelve days sick leave 9 /14 Reddington, John H., appointed messenger boy in Division of Issue and Redemption 7 /13 Rogers, Ulysses, granted indefinite leave of absence without pay 7/8 1.1r. Hamlinfs Office: Moore, J. P., Private Secretary, salary increased 8 /4 Ur. Miller's Office: Elliott, Daniel C., appointment and salary as Private Secretary 8 /19 Elliott, D. C., salary increased as Private Secretary 12/23 Mr. Moehlenpah's Office: Schoeneman, G. J., increase in salary 7 /29 Schoeneman, George J., Private Secretary, connection with Board to cease Sept. 11th. 8 /12 Schoeneman, George J., resignation as Private Secretary 8 /31 'Mr. Wills' Office: Picks, Louis G., appointment and salary as private Secretary 9 /30 935 7 :663 881 896 1049 680 660 660 1049 611 885 640 860 766 620 611 671 703 1049 660' 686 731 805 page Staff of F. R. Board: (continued) Mr. Wills' Office: (continued) 12/30 . Picks, Louis G., Private Secretary,salary increased 10/ 1 suggested in, Organization chart, changes 10/12 of, approved Organization chart, now form Railway Loan Advisory Committee: Crittenden, (Mrs.) Eunice, temporary appointment as 7 /13 stenographer d; rs,requeste stenographe Employment of two additional 8 /26 referred to Governor with power /31 8 increased salary Secretary, Stellwagen, S. M., 's Office: Comptroller of Redemption Division 11/ 6 Milliken, (Mrs.) E. W., resignation as money counter Secretary; of resignation of view in of, ion Reorganizat 9 /29 question of, referred to Executive Committee Salaries: Adjustments in, in accordance with new plan of classifi(See auxiliary minute cation, effective Oct. 1st. 10/ 6 date) of book, 12/23 1921 1st., Jan. effective employees, of in, Adjustments to Secretaries Members: Salaries of; motion of Mr. Moehlenpah for fixing, at 7/7 $3,000 minimum, and $3,500 maximum, disapproved Secretary: Chapman, W. T., granted statutory leave to which entitled Chapman, W. T., letter of appreciation for services rendered by, while Secretary, authorized Chapman, W. T., resignation Holton, W. W., Executive Secretary, appointed Secretary at present salary, effective Nov. 1st. Hoxton, W. W., Executive Secretary, designated Acting Secretary for period Oct. 16th. - 31st. Secretary's Office: Latterman, Katherine I., appointment as stenographer Martin, Ruth L., appointment as stenographer . Mooney, (Miss) Frances M., salary increased O'Rourke, Irene M., appointment as stenographer Richardson, (Mrs.) Lulu C., salary increased Turner, (Miss) Mary H., appointment and salary as Secretary to Mr. Hoxton Statistician: Jacobson, M., salary increased Supply Agent: Foulk, O. E., classification changed, and salary increased 1067 807 624 621 724 731 903-4 797 819 1049 606 9 /29 797 9 /29 9 /29 797 797 10/12 831 10/12 831 9/9 9/2 8/3 7 /20 8/3 759 712 667 640 667 10/14 843 12/23 1051 12/23 1049 page Staff of F. R. Board: (continued) Telegraph Operators: See "Leased Wire System" Staple Cotton Cooperative Association, Greenwood, Lississippi Eligibility for rediscount by FRBanks of certain acceptances Association purposes to make for cotton growers; letter re, with opinion of Counsel and reply of Governor 8 /18 Staples: Tractors and business automobiles as readily marketable; request from Deputy Comptroller of Currency for statement by Board re, 8 /11 Reply of Governor Harding 8 /12 State Bank Examiners: Special rate granted to, for subscriptions to FRBulletin 11/18 State Bank Members: Amount of deposits, may hold with non-member banks; ruling re, requested by Dallas 10/15 Opinion of Counsel and reply of Governor 10/15 State Bank Membership Committee of F. R. Bank of St. Louis: Applications of State banks for membership withdrawn, or on which action has been deferred by Committee; letter. from St. Louis re, 10/ 5 State Bankers' Associatimin Seventh District: Visits of ElAgent Heath to conventions of; report re, with particular reference to Iowa convention 7/6 State Banks: Inducing of, to enter FRSystem; request from Atlanta for Board's opinion in re,11/22 Suggestion from San Francisco that small, newly organized:, not be granted immediate membership in System 9/1 State of Georgia: Press item re probable calling of special session of legislature for enactment of law providing twelve months moratorium, in State 12/ 2 Telegram re above, from Board to _MBank of Atlanta 12/ 2 Stock: Applications of national banks for permission to purchase, in corporations organized under Edge Law; memo. of Counsel re method of handling, 12/14 Certain banks authorized to purchase, 12/14 Capital: Permission to invest additional amount in, of American Foreign Banking Oorporation,granted Chase National Bank of New York City 7/8 Reduction in, in sum of 450,000, of First National Bank of Champlain, New York 12/23 699 679 684 936 847 847 812 600-1 946-7 737 972 972 1006 1006 610 1047 Page Stock: (continued) Capital: Reduction in, to 4500,000, of First National Bank of 12/10 Covington, Kentucky Reduction in, to 4100,000 of National Bank of Derby 10/26 Line, Vermont Reduction in, to 475,000, of National Bank of 8 /26 Waterville, New York Federal Reserve Bank: Picher National Bank, Picher, Oklahoma, application for stock in FRBank of Kansas City; letter from 7 /14 Board to FRAgent re, Subscriptions to, by newly organized national banks; 7 /14 memo. of Assistant Counsel Angell Stock of International Finance Corporations: Right of national banks to invest in; letter from Board 12/24 to FRBanks re, Story & Cobb, Real Estate Brokers: 10/26 Letter from, re sale of Metropolitan Club Building Strauss, Albert: Inquiry from, re propriety of serving as officer or director of Mercantile Bank of the Americas; no 7 /27 objection by Board Structural Steel for F. R. Banks of Boston & Kansas City: Interstate Commerce Commission to provide cars for move8 /31 ment of, from Bethlehem Steel Co. Subsidiary Silver: Shipment of, and minor coin, from RBank of St. Louis and branches to member banks; MBank authorized to 8 /17 bear expense of, its to Dallas from coin, minor and Transportation of, member banks; expense of, to be borne by the FRBank 10/21 Sub-Treasury Building in New York: Discontinuance of; circulars issued by Secretary of 12/ 7 Treasury re, Sub-Treasury Functions: Assumption- of, by FRBank of Chicago, Nov. 1st.; letter 10/ 6 from Gov. McDougal re, Cincinnati branch of RBank of Cleveland authorized to 12/21 undertake, FRBank of Cleveland and branches granted authority to 12/21 undertake, FRBan:: of Kansas City taking over of certain; letter 10/12 from FRAgent Ramsay re, from letter FRBank of Minneapolis taking over of certain; 10/12 FRAgent Rich re, 995 875 717 624 624 1052-3 877 651-2 732 692 865-6 981 817 1031 1031 833 833 ' A Page Sub-Treasury Functions: (continued) Little Rock branch granted authority to undertake, Louisville branch granted authority to undertake, Memphis branch granted authority to undertake, Pittsburgh branch of ERBank of Cleveland authorized to undertake, Request from St. Louis that Board secure authority for Louisville, Memphis, and Little Rock branches to undertake, Transfer to ERBanks of; reply of ERBank of Chicago to Board's letter of June 26th. re, Transfer to ERBanks of; reply of ERBank of Minneapolis to Board's letter of June 26th. re, Transfer to FRBanks of; reply of ERBank of Richmond to Board's letter of June 26th. re, Sugar: Acceptance credit covering transactions in; telegram from Messrs. Strauss & Brawn of New York re proposed, the drafts to be drawn by Banco Americano Mercantil de Cuba Reply of Board Sweden: Eligibility for acceptance by member bank of drafts originating in; ruling re, requested by Mr. Kenzel of RBank of New York Opinion of Counsel re above; letter to Mr. Kenzel 12/21 12/21 12/21 1031 1031 1031 12/21 1031 12/14 1008 7/6 595 7/6 598 7/6 598 11/12 11/12 922 922 11/ 9 912 11/ 9 containing,"T" Telegraph Operators: See under "Leased Wire System" Ten Eyck, O. V. Payment of 41,000 per arum= to, by ERBank of New York, in addition to 44,000 paid by Board, approved 7/6 Terminal Railroad Association of St. Louis: Loan of 4896,925 to, approved upon recommendation of Railway Loan Advisory Committee 9 /27 Textile Banking Corporation: Letter to, from ERBank of New York, that promissory notes of, not eligible for discount by ERBanks; approved by Board 7/6 Textile Trade in First F. R. District: Duplication of effort in securing statistics bearing upon; correspondence between Dr. H. P. and Federal Trade Commission re, 7 /29 The Javasche Bank: See "Javasche Bank" Time Certificate of Deposit: Inquiry re requisites of, from Deputy Governor at Kansas 7 /20 City; memo. of Asst. Counsel re, and reply of Gov. 913 599 787 601 659 637 CXXIX Page Tower Grove Bank, St. Louis, Missouri: Authority granted, to reduce reserve requirements from 12/21 13,; to 10,; on demand deposits Tractors and Business Automobiles: As readily marketable staples; reluest from Deputy 8 /11 Comptroller of Currency for statement by Board re, 8 /12 Harding Reply of Governor Co. Railroad Terminal Trans-Mississippi Form of loan of 41,000,000 to, approved upon recommenda12/30 tion of Railway Loan Advisory Committee of Act 1920: Transportation Loans under provisions of Section 210 of, (See in detail under "Railway Loan Advisory Committee") Treasury Certificates: (See also Certificates of Indebtedness) Advance of funds to Treasury Department against 2; letter 11/30 from Gov. McDougal of Chicago re, 12/ 1 Above docketed for Dec. 3rd. Report by 2.:r. :diner of interview with Secretary 12/ 2 of Treasury re, Submission of draft of letter to Secretary of Treasury re policy of Treasury Department, also letter to all Governors and FRAgents; ref. to 12/ 3 Executive Committee Rate of 2);, issued to FRBanks to prevent overdrafts, to be increased to 42;, and balances created by uncollected funds not to be withdrawn by Treasury Dept. without consultation with Board; statement by Gov. 12/14 Harding Special 2, offered RBanks by Treasury Dept. pending deposits of tax receipts and collection of funds from depositaries, in future to carry rate of Lk;; announce12/15 ment from Secretary of Treasury future announcing Telegram from Board to RBanks 12/15 policy of Treasury Dept. re above Treasury Department: Advance of funds to, against Treasury certificates bearing 2, interest; letter from Gov. McDougal of 11/30 Chicago 12/ 1 3rd. Dec. for Above matter docketed Secretary with interview of Miller Report by Mr. 12/ 2 of Treasury re, of Secretary to of letter draft of Submission Treasury re policy of Treasury Dept., also letter 12/ 3 to Governors and RAgents; ref. to Committee absorbRBanks re of, Gilbert Secretary Letter from Asst. ing general overhead expenses of fiscal agency departments, without allocating any given proportion to 10/26 reimbursable fiscal agency expenses 1032 679 684 1066 962 966 970-1 974 1006-7 1020 1020 962 966 970-1 974 879 page Treasury Department: (continued) Proposed charge of, by iTtBank of Atlanta, for space occupied in bank building by fiscal agency department 9/2 Opinion of Counsel re reimbursement of FRBanks for expenses in conducting fiscal agency departments for U. S. Treasury, and letter from Gov. to Asst. Secretary Gilbert 9 /14 Settlement between, and FRBanks, re expenses of fiscal agency departments of ERBanks; letter from Asst. Secretary of Treasury Gilbert re, 9 /22 Trowbridge, Alexander B., Consulting Architect: Letters from, re Change in building plans at Dallas involving additiona). expenditure of 42,032, recommending 11/ 9 Payment of •J,000 per annum to O. Ten IZrck by ERBank of New York,in addition to 44,000 paid by Board 7/6 Payment of 420 per day to Mr. Crawshaw until work of demolition in connection with vault tests is completed; approved 11/24 Tests of vault construction now in preparation 10/19 Report by, re vulnerability of certain vault construction adopted by ERBank of Boston 11/15 Copy of letter from Gov. Morss to Mr. Trowbridge re above 11/22 743 763 784-5 913 599 956 858 925 947 U-NY -W Union Trust Co., Cleveland, Ohio: Authorized to operate certain branches after consolidation, Dec. 31st. 12/28 U. S. Chamber of Commerce: . Letter from President of, submitting analysis of results of policies of iiRBoard re credit control 10/11 U. S. Currency: Instructions governing assumption by FRBanks of transactions in, submitted by Assistant Secretary of Treasury; approved 9/2 U. S. Shipping Board: Letter from Chairman of, re American credit situation in Orient 8 /24 Upton, Frank S., of Charlotte, N. Y. Complaint from, in re adverse effect of increased MBank discount rates upon purchases of Govt. obligations, and reply of Governor /19 1055 823 743 708 701"*Z Page Vault Clerk: Proposed designation of Alvis Thomas Ellis as alternate, in connection with custody of F. R. notes and RBank 12/ 1 notes; advice from Comndssioner of public Debt re, Vault Construction Tests; Conference on, at Bureau of Standards, Sept. 15th.; compensation and expenses authorized for Consulting 9 /14 Engineer Samuel Miller while attending, of persons case in Insurance protection for RBoard injured during; Mr. Trowbridge authorized to procure,10/30 Letter from Mr. Trowbridge re tests of vault construction 10/19 now in preparation; referred to Gov. with power tests, witness to s :Satter of extending invitation 10/19 referred to Executive Committee to invited experts of committee Payment of expenses of attend conference of, at Bureau of Standards, Sept. 9 /14 15th., authorized completion until Crawshaw Mr. to day per Payment of .,20 11/24 of work of demolition and labor for Standards of of Bureau ent Reimbursem 10/ 5 materials furnished for, n Associatio rs Underwrite Insurance Burglary from Request of New York City for representation at; Mr. Trowbridge 7/8 authorized to extend invitation by adopted on constructi vault certain of ity Vulnerabil 11/15 MBank of Boston; report by Mr. Trowbridge Trowbridge to Morss Gov. from letter of Copy 11/22 re above Vice-Governor, F. R. Board: Order of "The President" designating Edmund Platt as, for period July 23, 1920 - August 10, 1922 Virgin Islands: Memorandum from Governor of, re extending date of abrogation of existing moratorium in, Virginian Railway Co. Form of loan of 41,000,000 to, as first installment of loan of $2,000,000, approved upon recommendation of Railway Loan Advisory Committee Wannamaker, J. S., President, American Cotton Association: Inquiry re extension of credit to cotton producers to enable holding of crops for price above cost Reply of Governor Harding Warehouse Receipts: Attitude of ERBank of Kansas City towards, of warehouses established under U. S. Warehouse Act; letter from Secretary of Agriculture re, 967 764 890 858 858 764 956 810 613 925 947 7 /27 651 7/8 613 10/12 832 8 /26 8 /26 718 718 11/ 9 913 Page Washington Bureaus of Farm Organizations: Request from representatives of, for statement re Board's policy for assisting farmers in marketing crops 10/12 Wayne County & Home Savings Bank of Detroit: Proposed rental of suitable vaults from, for holding part of reserve stock of F. R. notes carried by Detroit branch 7 /14 .:feekly Condition Report for Member Banks; Revision of; stencil covering, recommended by Li'. Jacobson, for sending FRAgents 12/ 7 Weekly telegraphic reports of debits to deposit accounts at FRBanks and branches; telegram to Chairmen of all ERBanks requesting discontinuance of, 10/19 West St. Louis Trust Co., St. Louis, Mo. Authority granted,to reduce reserve requirements from l3„; to 10,; on demand deposits 12/21 Western Maryland Railway Co. Loan of ,:300,000 to, approved upon recommendation of 8/3 Railway Loan Advisory Committee Wheat Crop of United States for 1920: Marketing of; resolution of Rotary Club of 1,10scaN, Idaho, re 6 /31 Wheeling and Lake Erie Railway Co. Form of aggregate loan of .132,460,000 to, approved upon recommendation of Railway Loan Advisory Committee 10/20 Willis, Dr. H. Parker, Director, Div. of Analysis & Research: Correspondence between, and Federal Trade Commission, in re duplication of effort in securing statistics on textile trade in first district 7 /29 Letter from, re present method of editing monthly reports on business conditions 12/14 Recommendation of, for increase to 44 in subscription price of complete edition of Bulletin, approved 7/ 7 Recommendation of, for sending, monthly, twenty-five copies of large edition of Bulletin to each ERBank for distribution to firms furnishing information on business conditions, approved 7 /27 Wills, D. G., Member, F. R. Board: Appointed by "The President" as member of F. R. Board, in recess 9 /22 Appointed member of Clayton Act Committee 9 /30 Appointed member of Committee on Admission of State Banks 9/29 Appointed member of Committee on Applications for Fiduciary Powers 9 /29 Appointed member of Committee on Operations of F. R. Banks of Philadelphia and Cleveland 9 /29 Appointed member of Executive Committee for quarter ending Dec. 31st. 9 /29 838 625 977 858-9 1032 668 730 861 659 lo05-6 603 650 785 805 796 798 796 796 1)) Page \iills, D. O., Member, F. R. Board: (continued) Authorized to visit FRBank of Kansas City and straighten 11/ 4 out certain matters in re rediscounts in Letters to Board from, reporting credit conditions 11/ 8 seventh and tenth districts 10/26 Memorandum of, re visit to ERBank of Atlanta 10/29 Proposed visit of, to FRBank of Dallas on Report of, on manuscript submitted by Park Mathewson 10/ 5 "Acceptance Procedure and Practice" 9 /29 Sworn in as member of F. R. Board situation present upon Telegram to Board from, reporting 11/12 in eleventh district ERBank by ed rediscount paper Telegram to, from Board, re of Kansas City for member banks, originating in and endorsed by non-member banks, carrying higher base 11/ 5 rate Wool Industry: Policy of RBoard re; letter from Gov. Harding to Gov. 7 /20 Miller of Kansas City calling attention to, tive representa from letter ERSystem; Treatment accorded, by 7 /20 Mondell making complaint as to, 899 905-6 875 888 814 796 923 902 640 640 - Y- Yokohama Specie Bank, Ltd. Conference between New York Agent of, and Acting Gov. Case of New York, re Japanese balances and operations in New York market, also probable early withdrawal 8 /26 of gold; report re, 717
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