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KEY TO INDEX Branch Banks, Domestic, PRBanks, and loreign, see Branch Banks Clayton Act Applications, see Interlocking Directorates Directors of RBanks and Branches, see Directors National Banks are listed under heading National Banks State Banks are listed. under State Member Banks, Nonmember Banks, and Membership Stock of MBanks and Member Banks, see Stock. INDEX JULY - DECEMBER, 1 1930 Pages Absorption of banks: (See Consolidations) Acceptances: Bankers: Rates for purchases, changes in: FRBank of Atlanta FRBank of Boston FRBank of Chicago MBank of Dallas 'MBank of Kansas City FRBank of Minneapolis FRBank of New York FRBank of Richmond FRBank of St. Louis FRBank of San Francisco 8/30 12/2? 7/1 7/22 12/26 7/1 7/22 12/26 7/8 7/29 12/2? 7/8 7/25 12/29 7/8 7/22 12/26 7/1 7/22 12/26 7/1 7/22 12/26 7/1 12/26 7/8 7/25 93 339 2 36 331 2 37 331 13 55 339 13 45 340 13 36 331 2 36 331 2 37 332 2 332 13 45 Eligibility for rediscount of those drawn by Grain Stabilization Corporation on number of 106 9/3 different accepting banks Letter to Chairman of Federal Farm Board that such acceptances are eligible and stating 9/5 115 conditions Acceptances to 100 per cent of capital and surplus: 7/8 16 First National Bank, Laurel, Miss., application approved Mo., Louis, Mercantile-Commerce Bank and Trust Co., St. 7/22 40 application approved Memphis, Tenn., Union Planters National Bank and Trust Co., 7/22 39 application approved desirability banks, member of Affiliated or subsidiary corporations 9/30 169 of providing for examinations of to Federal amendment that Reply of Comptroller of the Currency statutes is required and will be recommended 12/26 334 in his annual report 2 Pages Agencies: Currency stations: (See Currency stations) Havana: Amount of cash carried by FRBank of Atlanta at, and amount of insurance on 12/15 Advice from Assistant Secretary of State that no changes have taken place in political situation in Cuba to justify change in position of Reserve bank 12/22 Disturbed banking conditions in Havana, shipment of currency by FRBank of Atlanta and island visited by Messrs. Black and Taylor 9/30 Staff: Alston, A. H., appointed Assistant Manager and salary approved 8/19 Power of attorney to, submitted and noted 8/30 Frazer, H. C., appointed Manager and salary increased 8/19 Power of attorney to, submitted and noted 8/30 Agricultural conditions: (See Crop conditions) Agricultural credit corporation, loan to: (See Loans) Agriculture, bill introduced in Senate to encourage and promote, and to refinance agricultural indebtedness 12/15 Amendments to Fact: (See Legislation) American Bankers Association, invitation to members of RBoard by FRBalec. of Cleveland to use conveniences of bank while attending convention of 9/18 American Cooperative Cotton Association: (See Loans) Assessment on :MBank for expenses of FRBoard 12/29 Assistant FRAgents: (See FRAgents) Attmore, case of MBank of Richmond v.: (See Court cases) Attorney General of United States: (See Department of Justice) Austin, William, permission to use data in FRRulletin in article for submission to "Railway Age" 12/11 300 328 164 81 97 81 97 300 134 346 290 Baker, Newton D.: MBank of Richmond v. Attmore, employment in case on System basis recommended 10/29 222 Employment by FRSystem approved and compensation subject to approval by FRBoard 11/7 237 Regulation J, payment of bill for services in connection with 8/5 59 Bank failures, request of Federal Farm Board to be furnished with current information on 11/28 265 . Bank of England, purchase of Sterling bills through: (See Sterling) Bonds: Circulation, advice of no applications for sale: During quarter ending June 30 7/10 19 During quarter ending Sept. 30 10/7 185 Surety: FIT, 3. G., as Assistant FRAgent at Richmond 11/25 260 Gilson, Royal W., as Acting Assistant FRAgent at Boston 8/30 93 Hill, E. C., as Assistant FRAgent at Philadelphia 7/8 15 Honeycutt, Robert L., as Acting Assistant FRAgent at Charlotte Branch 12/18 306 3 Pages Bonds: (Continued) Surety: (Continued) McRae, William D., as Acting AssistantMk.ent at Boston Mosher, Curtis L., as Assistant PRAgent at Minneapolis Rhodes, H. H., as Acting Assistant FRAgent at Kansas City Schutz, Henry, as Acting Assistant FRAgent at Baltimore Branch Wheeler, Oliver P., as Assistant FRAgent at San Francisco White, Win. H., as Assistant FRAgent at Chicago Branch banks, domestic: American Bank and Trust Co., Richmond, Va., absorption of West End Bank and to be operated as branch Lincoln Bank and Trust Co., Louisville, Ky., establishment of office at La Grange would be violation of TRAct Lincoln National Bank of Newark, N. J., to merge Colonial Trust Co. and operate as branch Branch banks, FRSystem: Assistant FRAgents at: (See FRAgents) Baltimore: Directors: (See Directors) Personnel classification plan, changes approved Staff: Dudley, A. H., reappointed Managing Director for 1931 Schutz, Henry, temporary designation as Acting Assistant FRAgent and resignation as Custodian of Bank Securities Bond of Redesignated Stock of unissued FRnotes to be carried at, plan approved Birmingham: Directors: (See Directors) Staff: Walker, A. E., appointed Managing Director for 1931 Buffalo: Directors: (See Directors) Charlotte: Directors: (See Directors) Personnel classification plan, changes approved Staff: Honeycutt, Robert Lee, temporary designation as Acting Assistant FRAgent Bond of Redesignated Leach, Hugh, reappointed Managing Director for 1931 Stock of unissued FRnotes at, plan for joint custody approved Plan not sufficiently flexible at present time and appointment of Acting Assistant FRAgent approved Cincinnati: Directors: (See Directors) 8/30 11/10 7/8 94 241 15 12/18 306 185 10/7 10/22 212 12/11 292 8/19 85 9/30 163 12/29 341 12/6 274 12/15 12/18 12/22 12/18 295 306 324 308 12/15 298 12/29 341 12/15 295 12/18 306 12/22 323 274 12/6 12/11 293 12/15 295 4 Branch banks, 2RSystem: (Continued) Cincinnati: (Continued) FRnotes, supply of unissued to be maintained under triple control arrangement Memo of Counsel that agreement between FR.gent and FRBank is in proper form Staff: McCombs, C. F., reappointed Managing Director for 1931 Denver: Directors: (See Directors) Staff: Olson, J. E., reappointed Managing Director for 1931 Detroit: Directors: (See Directors) FRnotes, stock of unissued to be maintained at, plan in effect at other branches to be referred to FRAgent El Paso: Directors: (See Directors) FRBarar of Dallas, plan for reserve stocks of unissued FRnotes to be established when deemed necessary Action of Board reconsidered and plan of MBank approved FRBank of St. Louis, outline of procedure covering receipt of FRnotes at Helena: Directors: (See Directors) Personnel classification plan approved for Houston: Directors: (See Directors) Jacksonville: Directors: (See Directors) Personnel classification plan, changes approved Staff: McLarin, W. S., Jr., appointed Managing Director for 1931 Little Rock: Directors: (See Directors) Staff: Bailey, A. F., appointed Managing Director for 1931 Los Angeles: Building, actual expenditures approved Community Chest Campaign, telegram from Mr. William Lacy on poor response by employees Castody of unissued stock of FRnotes, agreement covering Resolution of directors authorizing agreement and letter to FRAgent approving plan Directors: (See Directors) Staff: Swengel, H. D., redesignated Examiner for 1931 Louisville: Directors: (See Directors) Staff: Kincheloe, W. P., appointed Managing Director for 1931 Pages 8/30 97 9/22 137 12/9 281 12/9 281 11/25 254 12/6 12/9 276 280 12/15 300 12/18 307 12/26 333 12/15 298 12/22 325 11/7 234 11/3 230 12/22 326 12/29 341 12/26 332 12/22 325 5 Pages Branch banks, FRSystem: (Continued) Memohis: Directors: (See Directors) Staff: Glasgow, W. H., appointed Managing Director for 1931 Nashville: Directors: (See Directors) Staff: Fort, Joel B., Jr., appointed Managing Director for 1931 New Orleans: Custodian of warehouse receipts covering cotton pledged to secure loans to American Cooperative Cotton Association Advice from Governor Black that FRBank will act as custodian Custody of unissued FRnotes and gold coin and/or gold certificates, plan referred to Governor Plan approved up to $10,000,000 for FRnotes and $2,000,000 for gold Directors) (See Directors: Staff: Walker, J. A., designated Special Examiner Walker, Marcus: Appointed Managing Director for 1931 Vacation of four weeks with pay approved Oklahoma City: Directors: (See Directors) Staff: Daniel, C. E., reappointed Managing Director for 1931 Omaha: Directors: (See Directors) Staff: Earhart, L. H., reannointed Managing Director for 1931 Pittsburgh: Building, bids and contracts approved Contract for testing cement, concrete cylinders, vault doors, etc., approved Directors: (See Directors) Electrical equipment, increase in anaunt of contract covering Personnel classification plan, increase in maximum salary of Assistant Engineers Staff: Nevin, J. C., reappointed Managing Director for 1931 Taxes on motor fuels, inquiry on securing exemption from State Portland: Bylaws, waiver of provision that one director reside outside of branch bank city (See Directors) Directors: Staff: Snow, G. A., redesignated Examiner for 1931 12/22 325 12/15 298 12/6 278 12/9 280 10/1 173 10/15 197 12/18 307 12/15 7/15 298 27 12/9 282 12/9 281 10/24 219 10/30 228 11/18 252 10/13 190 12/9 281 8/19 85 11/25 259 12/26 332 6 Pages Branch banks, 'RSystem: (Continued) Salt Lake City: Directors: (See Directors) Staff: Htpp, C. R., redesignated Examiner until March 1 12/26 San Antonio: Directors: (See Directors) Seattle and Spokane: Bylaws, waiver of provision that one director reside outside of city 11/25 Branch banks, foreign: American Trust Co. of San Francisco, Calif.: London, examination by national bank examiners now abroad to be arranged 10/23 Banlr of America National Trust and Savings Association, San Francisco: London, E. C. 4, England, No. 12 Nicholas Lane, to be treated as new application 12/31 Examination of, increase in salaries of three national bank examiners to be detailed for 8/30 Services offered to FRBoard for examination of branches of corporations affiliated with national banks 9/5 First National Bank of Boston: Argentine Republic: Ayellaneda, application approved 10/17 Buenos Aires, to make application for sub-branch of branch in 9/9 Application for three additional branches at Alsina, Once and Callao, approved 10/13 Rosario de Santa Fe, application approved 10/17 Cuba, Havana, to mnke application for sub-branches of 9/9 Application for two in Havana, and one each in Cienfuegos, Santiago, and Sancti Spiritus approved 10/13 Designation as sub-branches or sub-offices for administrative purposes, no objection to 10/17 National City Bank of New York: Argentine Republic, Buenos Aires: Plaza Once, application to establish approved 7/10 Retire District, application to establish approved 8/8 Porto Rico, Mayaguez, to make application for up-town office in connection with branch already established 7/10 Application for second branch approved 8/8 New York banks, letter from State Superintendent of Banking on plans for examination of 9/12 Branch, Group, and Chain Banking, report of Committee to Joint Conference of Governors and FRAgents on progress of study 9/26 (See also Committees) Budget of FRBoard for 1931 approved 12/29 Buildings: FRBank of Richmond, low bid for aedition made by J. A. Jones Construction Co. and FRBank authorized to proceed with construction 7/1 332 259 217 350 95 116 204 120 193 204 120 193 205 21 73 19 73 123 159 345 3 7 Pages Buildings: (Continued) 11/7 Los Angeles Branch, actual expenditures approved 10/24 Pittsburgh Branch, bids approved vault cylinders, concrete Contract for testing cement, 10/30 doors, etc., approved of designation on letter Burnham, Bingham, Gould, and Murphy, foreign branches of First National Bank of 10/17 Boston as sub-branches or sub-offices Federal of meeting at reviewed Business and credit conditions to be 11/18 Advisory Council Bylaws: FRBoard: Amendment to prohibit adoption of resolutions on retirement 9/18 of members, referred to Mr. Miller /25 9 XV submitted Article 4 of Section to amendments Alternate 10/13 Amendment adopted Portland Branch, waiver of provision that one director reside 11/25 outside of city Seattle Branch, waiver of provision that one director reside 11/25 outside of city Spokane Branch, waiver of provision that one director reside 11/25 outside of city 234 219 228 205 252 133 150 188 259 259 259 ”C" 28 7/15 Canadian currency, memo of Hr. Smead on redemption of by be absorbed Motion of Mr. Janes that expense of redemption 47 7/25 FRBanks, disapproved Capital stock: (See Stock). Chicago World Fair of 1933, participation by FRBoard in Government 0 10/22 213 Exhibit Reply to Assistant Secretary of State that FRBoard is inclined to participate, committee to be appointed and 238 11/7 estimate of space required of Letter to Assistant Secretary of State on probable nature 11/10 240 exhibit Circulars: FRBank of Cleveland to member banks on calculation of reserves 234 11/7 on deposits on Sundays and holidays 248 circular 11/17 to contrary Letter to MBank with advice FRBank of Dallas: Reserves of member banks, paragraph on computing deficiencies 11/25 259 approved FRBank of St. Louis to member banks on calculation of reserves 234 11/7 on deposits on Sundays and holidays 11/17 248 Letter to FRBank with advice contrary to circular FRBoard: Custody of unissued FRnotes at branches of FRBanks of 11/28 265 Cleveland and Atlanta, arrangements for Election of Class A and B directors, polls to be open Nov. 1, and advice of no change in group 115 9/5 classifications 8 Pages Circulars: (Continued) FRBoard: (Continued) Examinations of State member banks, revised resolution on assessment of costs for, to comply with recent law 7/25 Regulation F as amended to provide for voluntary surrender of trust powers by national banks 10/17 Regulation J, amendments recommended by Conference of Counsel, comments of FRBanks requested 7/1 Reserves of member banks, calculation for Sundays and holidays 12/9 Self-insurance reserves now carried or to be established by FRBanks, proper limits on 9/25 Topics discussed at recent Conferences of Governors and FRAgents, action of FRBoard on 11/10 Civil Service Retirement and Disability Fund, amounts to be deducted from salaries of four Employees of FRBoard and deposited with Treasury of United States 12/2 Clayton Act applications: (See Interlocking directorates) Clearing and collection: Interdistrict time schedule: FRBanks of Boston and Dallas and branches to other FRBanks and branches, changes approved 8/19 Regulation J, amendments recommended by Conference of Counsel, letter to all FRBanks for comments 7/1 Replies of FRBanks received and amendments adopted and regulation ordered printed 7/22 Payment of bill of Newton D. Baker for services in connection with 8/5 Remittances on drafts from nonmember banks in St. Louis District be credited to account of Exchange National Bank, Ardmore, Okla., at FRBank of Kansas City, arrangement requested 7/22 Letter from Assistant Cashier of FRBank with letter from National bank on handling of drafts 8/5 Committees: Branch, Group and Chain Banking: Comptometer machine, purchase by Division of Bank Operations for use by 11/25 Examinations of affiliated or subsidiary corporations of member banks, report of Conference of FRAgents and letter of Comntroller of the Currency referred to 12/26 Report of Dr. Goldenweiser to Joint Conference of FRAgents and Governors with FRBoard on progress of study 9/26 FRBoard: Executive: Cunningham, E. H., designated member for three months 10/3 James, George R., appointed member for three months 7/8 Expiration of term as member 10/3 Miller, A. C., expiration of term as member 7/8 51 208 4 283 149 242 270 81 4 32 59 42 61 261 334 159 182 14 182 14 9 Pages Committees: (Continued) Public statement on availability of Federal Reserve credit to assist in orderly marketing of crops, 9/23 Messrs. Black and Talley to prepare (See Press statements) Reserves: Calculation of reserves on deposits at beginning of day Instead of close: (See Reserves) Classification of deposits and maintenance of reserves on, report of FRAgents Conference referred to 9/30 committee in held be to Letter from FRAgent at Philadelphia on, 10/23 abeyance until report of committee is made be deferred recommendation Report of committee that 12/22 until final report is made and Governors Report of lit. Smead to Joint Conference of 9/26 FRAgents with FRBoard on progress of study Community Chest: District, letter from President on organization for forthcoming campaign, Mr. Noell appointed Chairman for 11/7 FRBoard Los Angeles, telegram from Mr. William Lacy on poor response 11/3 by employees of Los Angeles Branch Camptmmeter machine, purchase by Division of Bank Operations for use by Committee on Branch, Group, and Chain Banking 11/25 Comptroller General of the United States, request that payments of employees into retirement fund be deducted 12/2 from salaries and deposited in Treasury Comptroller of the Currency: Classification of deposits of Bank of Italy National Trust and Savings Association for reserve purposes: (See Deposits) Examinations of affiliated or subsidiary corporations of member banks, report of FRAgents Conference referred 9/30 to Reply of Comptroller that amendment to Federal statutes is required and will be recommended in his 12/26 annilel report National bank examiners, salaries of: (See Examiners) Reduction in capital stock of national banks, request that 10/30 detailed information be furnished FRBoard. 11/7 approved Letter to Comptroller of Currency Condition reports: Consolidated call reports nublished by PRBoard, change in 8/5 classification of security loans National banks: 7/8 Call as of June 30 0 9/3 Call as of Sept. 24 State member banks: 7/8 Call as of June 30 /30 9 24 Call as of Sept. 142 168 217 327 160 238 230 261 270 169 334 227 237 60 14 162 14 162 10 Paces Conferences: FRAgents: Meeting to begin on Oct. 6 9/3 Meeting to be held Sept. 24 instead of Oct. 6, Governor authorized to arrange if possible 9/17 Preliminary meeting with YRBoard 9/24 Business completed and ready to report to FRBoard 9/25 Meeting with FRBoard and action taken reported by Mr. Curtiss 9/26 Public statement on availability of Federal Reserve credit: (See Press statements) Recommendations: Circular letter on action of 1E2oard on topics discussed at 11/10 Condition of membership re purchase of bank stocks by State member banks, no revision pending report of committee 9/30 Deposits, proper classification of, and maintenance of reserves, referred to System Committee on Bank Reserves 9/30 Letter from FRAgent at Philadelphia on, matter to be held in abeyance until report of System Committee on Reserves is made 10/23 Report of committee that recommendation be deferred until final report is made 12/22 Examinations of affiliated or sulsidiary corPorations of member banks, report on 9/30 Letter from Comptroller of the Currency that amendment to Federal Statutes is required and will be recommended in his annual report 12/26 Publication of notice of intention to withdraw filed by State member banks disapproved 9/30 Reserves on deposits, calculation at opening of business instead of close 9/30 S-4723 to amend National Bank Act and PRAct, report anproving some loaragraphs and disapproving others 9/30 Topics discussed at, letter to Governors and FRAgents on action taken by FRBoard on 11/10 Topics for discussion: Condition of membership regarding purchase of bank stocks by State member institutions, revision of 9/3 Publication of names of banks filing notice of intention to withdraw from FRSystem 9/17 Requested by FRAgent at Boston 9/9 Governors: Meeting to be held Oct. 6 9/3 Meeting to be held on Sept. 24 instead of Oct. 6, Governor authorized to arrange if possible 9/17 Preliminary meeting with FRBoaxd 9/24 Business completed and ready to report to FRBoard 9/25 Meeting with PRBoard and action taken reported by Governor Calkins 9/26 104 126 143 159 161 242 166 168 217 327 169 334 165 164 170 242 108 129 119 104 126 143 159 161 11 Pages Conferences: (Continued) Governors: (Continued) Public statement on availability of Federal Reserve credit: (See Press statements) Recommendations: Circular letter on action of FRBoard on topics discussed 11/10 242 at by stocks Condition of membership re purchase of bank State member banks, to await report of 9/30 166 Committee on Branch, Chain and Group Banking by filed withdraw Publication of notice of intention to 9/30 165 State member banirs disapproved in present Rebates of unearned discount, no change 9/30 168 practice of pamphlets Regulations of FRBoard, publication in size to conform to circulars of Treasury Department 9/30 168 and RBanks of opening at calculated be to Reserves against deposits 9/30 164 business instead of close Treasury bills, plan for wider distribution among member banks and the public submitted by FRBank of 9/30 167 Boston Report of Governor Meyer that no action by FRBoard is 172 10/1 necessary, plan referred to Mr. Mills Topics discussed at, letter to Governors and RAgents on 11/10 242 action taken by FRBoard on Topics for discussion: Condition of membership regarding purchase of bank stocks 108 9/3 by State member institutions, revision of Publication of names of baillts filing notice of intention 9/17 129 to withdraw from FRSystem Open Market Policy: (See Open Market Policy Conference) Consolidations: American Bank and Trust Co., Richmond, Va., absorption of West 12/11 292 End Bank and to be operated as branch American Trust Co. of New York, plans for merger with Bank of 10/17 205 Manhattan Trust Co. will Letter to FRAgent on whether conditions of membership 10/23 216 be violated 233 11/7 Merger approved merger Savings Association, Bank of Italy National Trust and with Bank of America, delay in survey of 269 12/2 reserve requirements as result of 305 /18 Wasco 12 of Commerce of with Bank Ore., Wasco, Bank of Wasco, Broadway Bank and Trust Co., Richmond, Va., merger of Main 56 7/29 Street Security Co. being considered National Chester of purchase Pa., Chester, Co., Trust Cambridge Bank and new title of Chester-Cambridge Bank 10/16 201 and Trust Co. Capital State Savings Bank, Chicago, Ill., with Builders and Merchants State Bank, procedure for 283 12/9 cancellation of FRBank stock 12 Pages Consolidations: (Continued) Central National Bank, Philadelphia, Pa., and Penn National Bank, permits previously granted to directors not to be revoked 8/19 Central Trust Co., Cincinnati, Ohio, to purchase assets and assume liabilities of Brotherhood of Railway Clerks National Bank 7/15 Dallas Bank and Trust Co., Dallas, Texas, to purchase assets and assume liabilities of Dallas National Bank 12/29 Downtown Trust Co., Elizabeth, N. J., proposed merger with Peoples Banking and Trust Co. of Elizabeth 9/18 Fifth-Third Union Trust Co., Cincinnati, Ohio, to purchase assets of Cosmopolitan Bank and Trust Co. now in liquidation 8/8 First Citizens Trust Co., Columbus, Ohio, permission to purchase Jeffry Building and Loan Co. not necessary 10/7 First National Bank, Gulfport, Miss., and National Bank of Gulfport, succession of fiduciary powers to consolidated bank 12/9 First National Bank, Marion, Ind., assets of Grant Trust and Savings Co. purchased and liabilities assumed 11/25 First National Bank, Philadelphia, Pa., and Eighth National Bank, no action to be taken to revoke permits granted to directors of banks 10/13 First Natio/10i Bank, Spanish Fork, Utah, to consolidate Commercial Bank 7/15 Interstate Trust and Banking Co., New Orleans, La., taking over assets and assuming liabilities of New Orleans Bank and Trust Co. approved 12/11 Lincoln National Brink of Newark, N. J., to merge Colonial Trust Co. and operate as branch 9/30 Manufacturers Trust Co., New York, proposed merger with Public National Bank and Trust Co., Bank of United States and International .Trust Co. 12/6 Maryland Trust Co., Baltimore, Md., merger of Drovers and Mechanics National Bank and Continental Trust Co. into. 7/25 Peoples Bank, Carrollton, Ga., application to take over assets and assume liabilities of First National Bank approved 12/22 Peoples Bank of Evergreen, Ala., with First National Bank under title of former 7/1 Plaza Trust Co., New York City, to merge Broadway National Bank and Trust Co. and Park Row. Trust Co. 9/17 FRAgent at New York of submitting advice of Practice of contemplated, discussed 10/17 Provident Savings and Trust Co., Cincinnati, Ohio, to purchase assets and assume liabilities of Bank of Commerce and Trust Co. 10/29 Contributions: FRBarar of Chicago to unemployment fund being raised by State of Illinois disapproved 12/18 84 27 344 135 71 186 282 260 192 26 291 163 277 50 326 5 128 206 224 303 13 Pages Corporation Trust Co., subscription to congressional service of, approved Cotton, discussion of credit facilities for marketing of: (See Crop conditions) (See also Loans) Counsel, General: Memoranda of: American Banking and Industrial Corporation for the Near East, organization papers and articles of association, letters to FRAgent and to Secretary of State approved Atlantic 'National BP_nlr of Boston, advised it has not effectually disposed of stock holdings in Atlantic Corporation Baker, Newton D.: FRBank of Richmond v. Attmore, employment in case on System basis approved Regulation J, payment of bill for services in connection with Bank of Versailles, Mo., deposit in nonmember bank in excess of limitation of law Bank of Italy National Trust and Savings Association, classification of deposits, RAgent to submit analysis (See also Deposits) Bills recently passed by House of Representatives and now signed by President, and copies forwarded to YRBanks Broadway Bank and Trust Co., Richmond, Va., indirectly owns its own stock through company which it controls, requested to correct situation Bush, Samuel P., ineligible for reelection as Class B director of FRBank of Cleveland because of retirement from business connections Canital State Savings Bank, Chicago, Ill., procedure for cancellation of FRBank stock Certificate of deposit described by Assistant FRAgent at Cleveland may be classified as time deposit Chase Bank, amendment to articles of association to increase board of directors to eleven Clayton Act permits, ruling on effect of consolidations on, to be published in FRBulletin Condition of membership regarding purchase of bank stocks by State member institutions, replies of FRBanks to circular on revision of Congressional service of Corporation Trust Co., subscription approved Deposits, monies paid into court pending litigation and deposited in member bank are not Government deposits exempt from reserve requirements Digest of State laws relating to bank reserves to be published in FRBulletin 11/25 261 8/5 63 9/17 130 11/7 237 8/5 59 9/18 134 7/22 7/1 7/22 35 6 40 9/17 130 12/9 8/30 283 97 10/22 213 7/1 5 9/3 108 11/25 261 7/1 7 8/8 72 14 Pages Counsel, General: (Continued) Memoranda of: (Contiaued) Directors of Central National Bank of Philadelphia and Penn National Bank, permits previously granted not to be revoked 8/19 cchange National Bank, Ardmore, Okla., request that remittances on drafts from nonmember banks in St. Louis district be credited to its account at FRBank of Kansas City 7/22 Letter from Assistant Cashier of FRBank with letters from national bank on handling of drafts 8/5 Farmers Commercial and Savings Bank of Oakley, Idaho, six months notice of intention waived and immediate withdrawal approved 8/5 Federal International Banking Corporation, articles of association, organization certificate and application for approval of title 7/3 Replies of FRAgents at Richmond and New York received, and articles of association and organization certificate approved 7/15 FRAct, amendments to Sec. 25(a) suggested by organizers of Federal International BanTring Corporation 12/15 FRBulletin, revised Regulation A and recent amendments to law to be published in 7/22 FRnotes, supply of unissued at Cincinnati Branch under triple control arrangement 8/30 Agreement covering custody is in proper form 9/22 Ferguson, Frank C., to be advised that he can serve but three banks and must resign from one 12/31 First and Merchants National Bank, Richmond, Va., plan of uniform trusts proposed to be put in operation 7/15 Reply to Comptroller of Currency that plan does not contravene provisions of FRAct or regulation of FRBoard 7/25 First National BR)* of Boston: Application for branches at Avellaneda and Rosario de Santa Fe, Argentine Republic, approved 10/17 To make application for sub-branches of branches in Buenos Aires and Havana 9/9 Permission to establish branches in Buenos Aires, Argentina, and in Cuba 10/13 First National Bank, Gulfport, Miss., to make confirmatory application for fiduciary powers and receive new permit 12/9 First National Bank, McKinney, Texas, now in receivership, disposition of trust business of 12/6 First National Bank, Mt. Sterling, Ill., appointment of receiver recommended in order to cancel FRBank stock 12/11 First National Bank, Thomson, Ga., application for fiduciary powers refused because of insufficient capital 9/9 First State Bank of Abernathy, Texas, hearing on forfeiture of membership 11/17 84 42 61 62 10 24 300 42 97 137 352 25 48 204 120 192 282 276 293 118 249 15 Pages Counsel, General: (Continued) Memoranda of: (Continued) First State Bank, Spearman, Texas, notice of intention to withdraw from FRSystem, six months notice 10/1 not to be waived of two consolidation by affected directorates Interlocking national banks in Philadelphia, no action to 10/13 be taken to revoke permits granted of legality Chicago on at to FRAgent letter Walter, Kasten, 7/22 service as director of banks in Milwaukee possible Pa., Lansdale, Co., Trust and Title Lansdale violation of Revised Statutes by Assistant 8/30 Treasurer of Accounting General by inquiry Building, Otis Lease of space in 7/1 Office why not executed on standard form 7/15 of status Congress, 71st to Legislation recommended of establishment Ky., Louisville, Co., Trust Lincoln Bank and office at La Grange would be violation of 8/19 FRAct Locke, Locke, Stroud, and Randolph, payment of fee by FRBank 9/22 of New York for services Louisville Trust Co., Louisville, Ky., possible violation of criminal statutes in making loans to bank 10/3 examiners Merchant, T. M., permit not necessary under Clayton Act to 9/22 cover present connections Mercantile-Commerce Bank and Trust Co., St. Louis, Mo., holding of stock of Mercantile-Commerce 8/8 National Bank, action deferred National City Bank of New York, application to establish 7/10 foreign branch in Buenos Aires approved Natural Bridge Bank and Trust Co., St. Louis, Mo., application 7/15 for cancellation of FRBank stock 8/5 Six months notice waived and immediate cancellation of 7RBank stock approved Note evidencing loan by Federal Intermediate Credit Bank to livestock loan company, etc., eligibility for 7/15 rediscount at FRBank Proposed letter to Governor of MBank of San Francisco 9/3 referred to Mr. Cunningham for report Notes of insurance comnany, proceeds of which are used to carry accounts covering premiums due, 8/30 ineligible for rediscount at FRBank 10/29 Ruling to be published in FRBulletin Parker, Robert S., fee for services in case of Bobbitt et al 7/25 v. FRBank of Atlanta et al approved Peace, B. H., permit not necessary under Clayton Act to 9/22 cover present connections Power of Attorney to Messrs. H. C. Frazer and A. H. Alston as 8/30 Managers of Havana Agency Regulation F amended to provide for voluntary surrender of 10/17 trust powers by national banks 172 192 41 99 7 30 85 138 183 138 74 21 29 62 29 108 96 224 46 138 97 206 Counsel, General: (Continued) Memoranda of: (Continued) Regulation J, amendments adopted and to be printed 7/22 Smith, Sherrill, application to serve directorates approved 12/22 S.R.305, resolution introduced by Senator Glass on State Department passing on foreign loans and interference with FRSystem 7/1 Bill removed from table and referred to Committee on Banking and Currency 12/26 S. 4723, bill introduced by Senator Glass to amend National Bank Act and FRAct 7/1 S. 5109, to liquidate and refinance agricultural indebtedness and encourage agriculture, etc. 12/15 State Bank of Anoka, Minn., caoital stock reduced below required minimum, RAgent to make recommendation 7/25 Six months notice waived and tmmediate withdrawal authorized 8/19 Suit brought by FRBank of Richmond against G. S. Attmore, customer of failed First National Bank of New Bern, N. C. 10/24 Employment of Newton D. Baker in case on System basis recommended 10/29 Swift County Bank, Benson, Minn., six months notice waived and immediate withdrawal approved 7/22 Taxes on motor fuels, inquiry of Pittsburgh Branch on securing exemption from 8/19 Theft of payroll at :MBank of Boston, letter to Attorney General with report of RAgent 7/25 Ubland, Andreas, no objection to publication of article by 12/31 Court cases: Bobbitt et al v. FRBank of Atlanta et al, fee of Robert S. Parker for services approved 7/25 Suit brought by FRBank of Richmond against G. S. Attmore, customer of failed First National Bank of New Bern, N. C. 10/24 Employment of Newton D. Baker on System basis recommended 10/29 Employment of Mr. Baker approved and compensation subject to approval of FRBoard 11/7 Crop conditions and credit facilities for marketing of crops discussed with representatives of FaDistricts interested and issuance of public statement considered 9/23 Press statement submitted by Messrs. Black and Talley, to be revised by FRBoard and resubmitted to Conferences of Governors and RAgents 9/24 Revised statement submitted by ET. Miller, to be referred to Conferences 9/24 Form in which adopted, including suggestions of Conferences of Governors and FRAgents 9/24 Wider distribution of press statement by FRBanks to member banks to be discussed with Governors 9/25 32 328 6 334 6 300 50 84 223 222 41 85 49 352 46 220 222 237 140 143 145 146 151 17 Pages Cuba: Banking conditions in Havana, shipment of $25,000,000 from RBank 9/30 of Atlanta because of disturbances in by carried funds of and safety in, Condition of political unrest 12/15 Havana Agency political that State of Secretary Assistant Advice from situation does not justify change in position 12/22 of Reserve bank Havana) Agencies, (See Havana Agency: Currency: 7/15 Canadian, memo of Mr. Smead on redemption of absorbed be redemption of expense that James Mr. Motion of 7/25 by FRBanks disapproved FRnotes) FRnotes: (See Shipment of $25,000,000 to Havana Agency by FRBank of Atlanta 9/30 because of disturbed banking conditions Currency stations: 8/19 Tampa revolving currency fund, extension for six months granted 164 300 328 28 47 164 82 113)11 Davis, Polk, Wardwell, Gardiner, and Reed, employed by FRBaak of New York in connection with closing of Bank of 12/18 United States Department of Justice: Greely, Thomas L., and Mahan, Charles A., Jr., shortage at 10/22 FRBank of Philadelphia, report of of failure FRBaak alleged Theft of payroll at FRBank of Boston, 7/10 to cooperate in investigation /25 7 Boston at FRAgent report of with Attorney General Letter to Department of State: Cuba, safety of funds at Havana Agency to be taken 11:0 with 12/15 Assistant Secretary of State political that State of from Assistant Secretary Advice situation in Cuba does not justify Change in 12/22 position of FRBaak Exhibit at Chicago World Fair: (See Chicago World Fair) Foreign loans in this country, resolution introduced by Senator Glass on interference with FRSystem in 7/1 passing upon Bill removed from table and referred to Committee on Banking 12/26 and Currency of Senate East, Organization of foreign banking corporation in the Near 8/5 letter with certain questions on Deposits: Bank of Italy National Trust and Savings Association, FRAgent to 7/22 submit analysis on classification of . with discussed be to Letter to FRAgent presented and Comptroller of the Currency. before transmittal 8/6 Letter referred to Mr. Await, and. then transmitted to RAgent 8/8 at San Francisco examination when made be will Letter from FRAgent that reply 9/9 now being made is completed with merger of because Survey of reserve requirements delayed 12/2 Bank of America 306 213 20 49 300 328 6 334 63 35 69 72 120 269 18 Pages Deposits: (Continued) Bank of Versailles, Mo., in a nonmember bank in excess of limitation of YRAct 9/18 beginning of day instead of close and on Sunanys Calculation at and holidays: (See Reserves) Certificate described by Assistant FRAgent at Cleveland may be classified as time deDosit 8/30 Classification of, and maintenance of proper reserves, report of FRAgents Conference on 9/30 Letter from RAgent at Philadelnhia on, matter to be held in abeyance until report of System Committee on Reserves is made 10/23 Report of Committee on Bank Reserves that recommendation be deferred until final report of committee is made 12/22 Increase in time compared with demand, report ms4e to Governor by Mr. Goldenweiser 10/13 Member bar with nonmember bank, whether those of nonmember bank with member bank can be deducted in computing, to be published in FRBulletin 10/29 Monies paid into court pending litigation and deposited in member bank are not Government deposits exempt from reserve requirements 7/1 Public funds from States in national barors, authorized to pledge securities to secure such deposits 7/1 Digest of State laws relating to bank reserves to be published in YRBulletin 8/8 Directors: Chase Bank, amendment to articles of association to increase from ten to eleven 10/22 Directors, FRBanks: Election of Class Aand B, polls to be open on Nov. 1 and advice of no dhange in group classifications 9/5 Electors voting, amendment to Sec. 4 of FRAct to clarify meaning of phrase, approved by President 6/1 Amendment to be published in RBulletin 7/22 FRBank of Atlanta: Election of Class B for unexpired term, Jan. 6, 1931, set as date for opening polls 11/25 Harris, George S., reappointed Class C for three years 12/11 Kettig, W. H., redesignated Deputy Chairman for 1931 12/11 Lea, Luke, resignation as Class B tendered to FRBank 11/13 Accepted by FRBank, advice of 11/17 McCrary, J. A., reelected Class B for three years 11/17 Meeting not held because of lack of quorum 9/17 Newton, Oscar, redesignated YRAgent for 1931 12/11 Young, H. Lane, reelected Class A for three years 11/17 FRBank of Boston: Bemis, A. F., reelected Class B for three years 11/25 Curtiss, Frederic H., redesignated FRAgent for 1931 12/11 Hollis, Allen, reappointed Class C and redesignated Deputy Chairman 12/11 Kennard, Edward S., reelected Class A for three years 11/25 Manchester, Charles H., advice of death of and Mr. Hamlin to take up matter of successor while in Boston 7/1 134 97 168 217 32? 188 224 6 72 213 115 6 42 256 288 288 243 247 247 127 288 247 255 287 287 255 4 19 Pages Directors, FRBanks: (Continued) FRBank of Boston: (Continued) Manchester, Charles H.: (Continued) Report of Committee that successor should be appointed from Providence Merriman, Charles H., FRAgent at Boston to confer re appointment as Class C as successor to Mt. Manchester Report of Mr. Hamlin that Mr. Merriman is willing to accept appointment, action withheld until regular meeting of FRBoard Appointment approved Oath received with qualification, to be advised that he cannot serve as director of .Morris Plan Company of Rhode Island and as Class C director Resignation as director of Morris Plan Company FRBank of Chicago: , Babb, Max W., reelected Class B for three years Heath, W. A., Class C, advice of desire to retire at end of present term Press statement on retirement Reynolds, George M., reelected Class A for three years Simpson, James: Authorized to offer appointment as Class C Director and FRAgent to Mr. Eugene Stevens , Redesignated Deputy Chairman for 1931 Stevens, Eugene, to be offered appointment as Class C and as FRAgent, and salary fixed Formal appointment, resolution adopted Press statement on appointment PRBank of Cleveland: Bush, Samuel P., ineligible for reelection as Class 3 because of retirement from business connections DeCamp, George, redesignated FRAgent for 1931 Galvin, John Z., elected Class B for three years Knight, W. W., reappointed Class C for three years Sams, O. N., reelected Class A,for three years . Williams, L. B., redesignated Deputy Chairman for 1931 FRBank of Dallas: Harding, R. E., elected Class Afor three years Milan, J. R., reelected Class B for three years Perkins, S. B., reappointed Class C and redesignated Deputy Chairman Walsh, C. C., redesignated FRAgent for 1931 PRBank of Kansas City: Hosford, W. D., reelected Class B for three years Magee, W. W., reappointed Class C for three years McClure, M. L., redesignated FRAgent for 1931 Meeting not held due to lack of quorum Parks, C. C., reelected Class A for three years • Petrikin, Wm. L., redesignated Deputy Chairman for 1931 7/8 10 7/22 43 8/5 8/8 64 73 8/19 82 9/9 lao 11/17 247 10/16 10/29 11/17 202 225 246 10/13 194 12/11 288 10/13 193 10/29 224 10/29 225 9/17 12/11 11/25 12/11 11/25 12/11 130 287 255 287 255 287 11/25 11/25 256 256 12/11 12/11 289 290 11/25 12/11 12/11 7/15 11/25 12/11 256 289 289 26 256 289 20 Pages Directors, FR3anks: (Continued) FRBarik of Minneapolis: Clark, Homer F., reappointed Class C and redesignated Deputy Chairman 12/11 Hansen, H. C., elected Class A for three years 11/18 Holter, Norman B., resigned as Class B 11/18 Mitchell, John R., redesignated FRAgent for 1931 12/11 O'Connell, J. E., elected for unexpired term of Norman B. Holter 11/18 Owen, John S., reelected Class B for three years 11/18 ERBank of New York: Case, J. H., redesignated FRAgent for 1931 12/11 Reybuxn, Samuel W., reelected Class B for three years 11/18 Warner, David C., elected Class A for three years 11/18 Woolley, Clarence M., reappointed Class C for three years 12/11 Young, Owen D., redesignated Deputy Chairman for 1931 12/11 FRBaak of Philadelphia: Austin, R. L., redesignated FRAgent for 1931 12/11 Dorrance, Arthur C., reelected Class B for three years 11/25 Johnson, Alba B., reappointed Class C and redesignated Deputy Chairman for 1931 12/11 Reily, George W., reelected Class A for three years 11/25 MBank of Richmond: Delano, Frederic A., reappointed Class 0 for three years and redesignated Deputy Chairman for 1931 12/11 Fidhburn, Junius P., reelected Class B for three years 11/18 Hoxton, W. W., redesignated FRAgent for 1931 12/11 Rieman, Charles E., reelected Class A for three years 11/18 FRBank of St. Louis: Boehne, John W., redesignated as Deputy Chairman for 1931 12/11 Harris, James W., reelected Class B for three years 11/25 Nahm, Max B., reelected Class A for three years 11/25 Wood, John S., reappointed Class C and redesignated FRAgent 12/11 MBank of San Francisco: McNaghten, Malcolm, reelected Class B for three years 11/25 Meeting not held because of lack of quorum 7/8 9/22 10/3 10/17 Moore, Walton N., reappointed Class C and redesignated Deputy Chairman 12/11 Newton, Isaac B., redesignated FRAgent for 1931 12/11 Powell, Keith, elected Class A for three years 11/25 Directors, FRBranch banks: Baltimore Branch: Dudley, A. H., reappointed Managing Director for 1931 12/6 James, Norman, reappointed for three years 12/11 Osborn, C. G., resigned 12/18 Wilcox, H. B., reappointed for three years 12/6 Zimmerman, L. S., appointed for unexpired term of C. G. Osborn 12/18 Birmingham Branch: Allison, E. P., reappointed for three years 12/11 Henley, W. E., appointed for three years 12/15 Walker, A. E., appointed Managing Director for 1931 12/15 289 251 252 289 252 251 287 251 251 287 287 287 255 287 255 288 251 288 251 289 255 255 289 256 14 136 182 204 290 290 256 274 288 307 274 307 288 298 298 21 Pages Directors, FRBranch banks: (Continued) Buffalo Branch: Appointment for three year term by FRBoard, letter from Agent making certain suggestions Recommendation for anpointment to be submitted later by Governor Miner, Edward Griffith, appointed for three years Charlotte Branch: Gage, Robert, reappointed for three years Law, J. A., reappointed for three years Leach, Hugh, reappointed Managing Director for 1931 Cincinnati Branch: Kroger, B. H., reappointed for three years McCombs, C. F., reappointed Managing Director for 1931 Verity, Geo. M., reappointed for three years Denver Branch: Gano, Merritt W., reappointed for three years Kountze, Harold, reappointed for three years Olson, J. E., reappointed Managing Director for 1931 Detroit Branch: McMorran, David, reappointed for three years El Paso Branch: Applewhite, S. P., appointed for three years Flory, George D., appointed for three years Helena Branch: Jacobs, A. R., appointed for two years Appointment declined Strain, W. R., appointed for two years Houston Branch: Horne, A. A.., appointed for three years Peden, E. A.., reappointed for three years Jacksonville Branch: Chase, S. O., reappointed for three years McLarin, W. S., Jr., appointed Managing Director for 1931 Perry, Arthur F., appointed for three years Little Rock Branch: Bailey, A. F., appointed Managing Director for 1931 Hicks, W. A., appointed for three years Williams, Hamp, reappointed for three years Los Angeles Branch: Alexander, J. B., reappointed for two years Cruickshank, A. J., appointed for two years Louisville Branch: Huthsteiner, W. F., appointed for three years Service on local school board not opposed but opinion of Board of Directors of FRBank requested Kincheloe, W. P., =pointed Managing Director for 1931 Woods, E. H., reappointed for three years Memphis Branch: Anderson, E. L., reappointed for three years Glasgow, W. H., appointed Managing Director for 1931 Snowden, R. Brinkley, appointed for three years 10/22 211 12/11 287 12/18 309 12/6 12/11 12/6 274 288 274 12/9 12/9 12/11 281 281 287 12/11 12/9 12/9 289 281 281 12/11 288 12/11 290 12/22 326 12/11 12/15 12/15 289 297 297 12/22 326 12/11 290 12/11 288 12/15 298 12/15 298 12/22 325 12/22 325 12/11 289 12/11 290 12/22 326 12/22 325 12/29 342 12/22 325 12/11 289 289 325 12/22 325 1V2 22 Pages Directors, FRBranch banks: (Continued) Nashville Branch: Bailey, C. W., annointed for unexpired term 12/15 Craig, C. A., appointed for three years 12/15 Port, Joel B., Jr., appointed Managing Director for 1931 12/15 Harle, Prank J., appointed for unexpired term 12/15 Hill, J. B., appointed for unexpired term of Mr. Luke Lea 12/11 Lea, Luke, resignation accepted 11/13 Ridley, Wm. P., reappointed for three years 12/11 New Orleans Branch: Bush, Albert P., reappointed for three years 12/11 O'Keefe, J. D., appointed for three years 12/15 Walker, Marcus, appointed Managing Director for 1931 12/15 Oklahoma City Branch: Daniel, C. E., reappointed Managing Director for 1931 12/9 Doolin, J. B., reappointed for three years 12/11 Mee, William, reappointed for three years 12/9 Omaha Branch: Earhart, L. H., reappointed Managing Director for 1931 12/9 Hildebrand, D. M., reappointed for three years 12/11 Marnell, R. 0., reappointed for three years 12/9 Pittsburgh Branch: Jones, J. S., reappointed for three years 12/11 Mellon, R. B., reappointed for three years 12/9 Nevin, J. C., reappointed Managing Director for 1931 12/9 Portland Branch: Bylaws, waiver of provision that one reside outside of branch bank city 11/25 Daly, John F., appointed for two years 12/22 Pease, Edward C., reappointed for two years 12/11 Salt Lake City Branch: Farnsworth, L. H., advice of death of 11/17 Hemingway, H. E., appointed for unexpired term of Charles H. Barton 11/25 Howard, E. O., appointed for unexpired term of L. H. Farnsworth 11/25 Appointed for two years 12/22 Wright, G. G., reappointed for two years 12/11 San Antonio Branch: Bennett, J. M., reappointed for three years 12/11 Hunnicutt, R. T., appointed for three years 12/22 Seattle Branch: Backus, M. F., appointed for two years 12/22 Bylaws, waiver of provision that one reside outside of branch bank city 11/25 Rhodes, Henry A., reappointed for two years 12/11 Spokane Branch: Bylaws, waiver of provision that one reside outside of branch bank city 11/25 Hardy, R. M., appointed for two years 12/22 McGregor, Peter, reappointed for two years 12/11 Discount, rebates of unearned, recommendation of Conference of Governors of no change in present practice 9/30 Discount rates: (See Rates) 298 298 298 298 288 243 288 288 298 298 282 289 282 281 289 281 288 281 281 259 326 290 247 256 256 326 290 290 326 326 259 290 259 326 290 168 23 Pages Dividends of FRBanks: Interest at rate of one-half of one per cent per month to be paid withdrawing member banks, telegram to FRAgent 12/26 335 at Chicago 12/22 314 approved 1930, 31, Payment as of Dec. Dollar exchange: International Trust Co., New York, application to accept for 9/12 123 furnishing, approved 11E9 Earnings of FRBanks: Distribution of, replies of FRAgents and Governors on H.R. 10211 61 8/5 to change 12/22 4 31 of Statement Educational and welfare work: (See Welfare and educational work) Election of directors: (See Directors) Electors voting, amendment to Sec. 4 of FRAct to clarify meaning of 6 6/1 phrase, approved by President 42 7/22 Amendment to be published in FRBulletin EMployees: FVqyars: (See :MBank of ---) FRBoard: (See Staff of FRBoard) Examinations: Affiliated or subsidiary corporations of member banks, report of FRAgents Conference on, referred to Comptroller of the Currency Reply of Comptroller of the Currency that amendment to Federal statutes is required and will be recomended in his annual report Ambridge Savings and Trust Co., Abridge, Pa., credit investigation to be made by FRBank Anson State Bank, Anson, Texas, FRAgent to have examiner participate in next examination of Bank of Italy National Trust and Savings Association, reply to Board's letter on classification of deposits for reserve purposes to be made on completion of Chase Bank, not to be made this year but one to be made in 1931 at same time Paris Branch is being examined Commercial Security Bank, Ogden, Utah, request of Federal Intermediate Credit Bank of Berkeley to review last report of Credit investigations made by FRBank. of Dallas, analyses and recommendations to be transmitted to PRBoard FRBank of Atlanta, report submitted FRBank of Boston, report submitted and certain losses to be discussed with Governor Young by Mr. Hamlin FRBank of Cleveland and branches, report as of July 19 FRBank of Dallas, report submitted. FRBank of Kansas City and branches, report as of June 26 FRBanle of Minneapolis, report submitted FRBank of San Francisco, report submitted 9/30 169 12/26 334 7/15 27 10/15 197 9/9 120 12/2 269 8/30 99 12/15 299 12/15 301 12/31 353 86 8/19 7/22 43 8/30 99 7/22 43 7/22 43 24 Pages Examinations: (Continued) FRBanIcs, Division of Examination directed to make at least one examination of each FRBank during 1931 12/22 First Federal Foreign Banking Corporation, New York, report submitted and letter from President on compliance with recommendations of Examiner 12/2 Foreign branches of national banks, increase in salaries of three examiners to be detailed to examine 8/30 Services of examiners offered to FRBoard for examination of foreign branches of cornorations affiliated with national banks 9/5 Foreign branches of New York banks, letter from Superintendent of Banking on past and future policy 9/12 London Branch of American Trust Co. of San Francisco, to be made by National bank examiners now abroad 10/23 Louisville Trust Co., Louisville, Ky., showing loans made to examiners in violation of criminal statutes 10/2 Loans to private examiners not to be reported to Attorney General, FRBank to make independent examination 10/22 Practices and policies of FRSystem in the past discussed 10/2 State Bank, Bowling Green, Ohio, credit investigation to be marle by FRBank 7/1 State member banks: Amendment to Sec. 9 of FRAct making assessment of costs discretionary with FRBoaxd, approved by President 7/1 Amendment to be published in FRBulletin 7/22 Cleveland District, credit investigations of three to be made by FRBank 7/22 Revised resolution stating policy and procedure with regard to, and on assessment of costs for, and circular letter to FRAgents approved 7/25 Union Trust Co., Greensburg, Pa., credit investigation to be made by FRBank 7/10 Examiners: FRBank of Atlanta: Albertson, Ward, designated Special Examiner 12/18 Bowman, V. K., designated Special Examiner 12/18 Conniff, H. F., designated Special Examiner 12/18 Harrison, H. N., designated Special Examiner 12/18 Honour, J. W., designated Special Examiner 12/18 Johns, W. S., designated Special Examiner 12/18 Paris, E. P., designated Special Examiner 12/18 Radford, R. A., designated Examiner 12/18 Walker, J. A., designated Special Examiner 12/18 FRBank of Cleveland: Renz, Harold, designated Examiner and salary increased 12/9 FRBank of Dallas.: McCallon, H. O., appointment and salary as member of examining staff 12/22 FRBank of Philadelphia: Berger, Thomas C., designated special assistant to 10/13 Designation of ten employees as special assistants to 9/17 327 269 95 116 123 217 183 214 183 3 6 42 38 51 19 306 307 307 307 306 306 306 306 307 282 324 190 128 25 Pages Examiners: (Continued) FRBank of Philadelphia: (Continued) Reid, George, designated Assistant to Examiners Shermer, Charles A., Jr., designated special assistant to FRBank of San Francisco: Hupp, C. R., redesignated until March 1 Sargent, S. G., redesignated Chief Examiner for 1931 Snow, G. A., redesignated for 1931 Sonne, H. A., redesignated for 1931 Swengel, H. D., redesignated for 1931 FRBoard: Directed to make at least one examination of each FRBank during year reelected Examiner in Charge and salary J., Drinnen, F. approved Furbershaw, James P., resignation of Howard, Thomas P., appointed Assistant Examiner Humphrey Robinson and Co., report of examination of Louisville Trust Co. showing loans rnae to, in violation of criminal statutes Not to be reported to Attorney General and MBank to make independent examination National bank, salaries: List of 42 approved Anderson, Glenn E. Baty, Marion R. Burt, Ross M. Chornening, I. I. Crossen, Gail W. Dresler, Horace B. Funsten, J. B., Jr. Larsen, Walter Logan, J. M. Luscombe, A. P., increase for detail to foreign service McCoy, Thos. P. Morgan, William M. O'Brien, Lawrence J. Penn, D. V. Peterson, F. R. Pole, John H. Increase for detail to foreign service Prickett, Karl E. Increase for detail to foreign service Regan, W. A. Reitz, Harold A. Reynolds, John R. Roberts, Luther K., Jr. Sales, Joseph A. Smith, E. Trimble apendrup, Max V. Steyert, Francis R. 9/30 163 10/13 190 12/26 332 12/26 332 12/26 332 12/26 332 12/26 332 12/22 32? 12/29 345 11/28 264 11/28 264 10/2 183 10/22 214 7/10 10/29 9/3 7/29 8/30 7/15 9/22 10/13 11/25 7/15 10/22 8/30 10/13 7/15 12/26 10/22 10/22 8/30 8/30 8/8 8/30 8/5 11/25 11/10 11/17 11/25 7/29 10/13 1140 18 223 105 55 94 26 137 189 260 26 212 95 189 26 333 212 212 94 94 71 95 58 260 241 246 260 55 189 241 26 Pages Examiners: (Continued) National bank, salaries: (Continued) Strenz, C. F. 11/17 246 Taylor, William M. 8/30 94 Wilson, C. F. 7/15 26 Salaries of three increased while detailed to examine foreign branches of national banks 8/30 95 Services offered to RBoard for examination of foreign branches of banks affiliated with national banks 9/5 116 Exhibit at Chicago World Fair of 1933: (See Chicago World Pair) Federal Advisory Council: MBank of Boston, member allowed $200 expenses for each meeting attended 10/13 FRBank of Philadelphia, member to be allowed $1C0 for each meeting attended 10/13 Meeting to be held in Washington on Sept. 16, list of topics for discussion requested 8/30 To be advised to review business and credit situation 9/3 Meeting of Nov. 17-18, Mr. McKinney to be advised that postponement to Nov. 24-25 will be agreeable if Council wishes to arrange meeting with Dr. Luther 10/16 Visit of Dr. Luther cancelled, meeting to be held as scheduled, list of topics requested 10/22 Poole, John, reappointed by FRBank of Richmond 12/6 Recommendations of: Credit should be unhampered by open market operations and changes in rediscount rates during present situation 11/18 Notes of finance companies should not be considered eligible for rediscount 11/18 Rieman, Charles E., reappointed alternate by MBank of Richmond 12/6 Topics for discussion: Review of business and credit conditions, including present and future Federal Reserve policy 9/3 Traylor, Melvin A.., appointed member by Executive Committee of FRBank of Chicago to succeed Mr. Wetmore 9/3 Federal Farm Board: Bank failures, request to be furnished with current information on 11/28 Eligibility for rediscount of acceptances drawn by Grain Stabilization Corporation on different accepting banks 9/3 Draft of letter to Chairman Legge that such acceptances are eligible and stating conditions 9/5 Federal Farm Loan Board, representatives present at meeting of FRBoard to discuss custody of warehouse receipts covering loan to American Cooperative Cotton Association 12/6 191 191 98 108 200 214 274 252 252 274 108 107 265 106 115 278 27 Pages Federal Farm Loan Board: (Continued) Advice from Governor Black that FRBank of Atlanta will act as 12/9 280 custodian Federal intermediate Credit Bank of Berkeley, request to review last examination report of Commercial Security 8/30 99 Bank of Ogden, Utah. Federal Intermediate Credit Banks: Eligibility for rediscount at FRBank of note evidencing loan made 7/15 29 to livestock loan company Proposed letter to Governor of FRBank of San Francisco 9/3 108 referred to Mr. Cunningham Loan to American Cooperative Cotton Association, request that New Orleans Branch act as custodian of warehouse 12/6 278 receipts covering cotton pledged to secure Advice from Mr. Black that FRBank of Atlanta will act as 280 12/9 custodian FRAct: Bill introduced by Senator Glass to amend provisions of 6 7/1 Report of Conference of FRAgents on memo of Assistant Counsel 9/30 170 of FRBoard on Sec. 4, amendment to clarify meaning of phrase nelectors voting", 6 approved by President 7/1 7/22 42 Amendment to be published in FRBulletin Sec. 7, replies of Governors and FRAgents on H.R. 10211 to change 8/5 distribution of earnings of FRBanks 62 Sec. 9, amendment making assessment of costs of examinations discretionary with FRBoard, approved by President 6 7/1 Amendment to be published in FRBulletin 7/22 42 Sec. 11(k), amendment to provide for voluntary surrender of trust powers by national banks, signed by President 7/1 6 Amendment to be published in FRBulletin 7/22 42 Sec. 25(a), amendment suggested by organizers of Federal International Banking Corporation 12/15 300 11tAgents: Assistant: Albertson, Ward, redesignated at FRBank of Atlanta 12/22 324 Anderson, J. B., redesignated at FRBank of Cleveland 12/22 323 Baltimore Branch, approval of designation desired as soon as satisfactory person is determined upon 12/15 295 Bailey, F. M., redesignated at FRBank of Minneapolis 12/22 324 Bailey, L. H., redesignated First Acting at FRBank of St. 12/22 324 Louis 12/22 323 Dillistin, William H., redesignated at FRBank of New York 12/22 323 Downs, Herbert S., redesignated at FRBank of New York 12/22 324 Evans, W. J., redesignated at FRBank of Dallas Fletcher, W. H., redesignated at FRBank of Cleveland 12/22 323 11/25 260 Fry, J. G., bond at FRBank of Richmond Redesignated for 1931 12/22 323 Gettemy, Charles P., redesignated at FRBank of Boston 12/22 323 Gilson, Royal W., designated Acting at FRBank of Boston up to Aug. 26 8/19 81 Bond of 8/30 93 Hall, C. C., redesignated at FRBank of Dallas 12/22 324 28 Pages FRAgents: (Continued) Assistant: (Continued) Hill, E. C., bond at FRBank of Philadelphia 7/8 15 Redesignated for 1931 12/22 323 Honeycutt, Robert Lee, temporary designation as Acting at Charlotte Branch 12/15 295 Bend of 12/18 306 Redesignated 12/22 323 Maguire, Frank P., redesignated Second Acting at FRBank of St. Louis 12/22 324 McAdams, A. M., redesignated at MBank of Kansas City 12/22 324 McRae, William D., designated Acting at FRBank of Boston from Aug. 25 to Sept. 4 8/19 81 Bond of 8/30 94 Designation continued to Oct. 1 120 Mosher, Curtis L., bond at FRBank of Minneapolis 40 241 Redesignated for 1931 12/22 324 Post, Arthur E., redesignated at FRBank of Philadelphia 12/22 323 Powell, Oliver S., redesignated to act for Assistant FRAgents at Minneapolis in certain duties 12/22 324 Rehfuss, J. F., redesignated Acting at FRBank of Philadelphia 12/22 323 Rhodes, H. H., bond as Acting at FRBank of Kansas City 7/8 15 Redesignated for 1931 12/22 324 Sargent, S. G., redesignated at FRBank of San Francisco 12/22 324 Schelling, Carl, redesignated to act for PRAgent in receipt and delivery of FRaotes 12/22 324 Schutz, Henry, temporary designation as Acting at Baltimore Branch 12/15 295 Bondof306 12/18 Redesignated 12/22 324 Shepherd, R. L., redesignated Acting at FRBank of Richmond 12/22 323 Stewart, C. M., redesignated at MBank of St. Louis 12/22 324 Wheeler, Oliver ID., salary increased as Acting at MBank of San Francisco 7/1 3 Appointed Assistant 9/22 137 Bond of 10/7 185 Redesignated for 1931 12/22 324 White, Wm. H., FRBank of Chicago, bond of 10/22 212 Redesignated for 1931 12/22 324 Young, Clifford S., redesignated at FRBank of Chicago. 12/22 324 Austin, R. L., redesignated at FRBank of Philadelphia 12/11 287 Case, J. H.: Acceptance of position as executive of institution resulting from proposed merger of four New York City banks 12/6 277 Redesignated at MBank of New York for 1931 12/11 287 Curtiss, Frederic H., redesignated at FRBanic of Boston 12/11 287 DeCamp, George, redesignated at FRBank of Cleveland 12/11 287 Heath, W. A.., advice of desire to retire at end of present term at 'MBank of Chicago 10/16 202 Press statement on retirement 10/29 225 Hoxton, W. W., redesignated at FRBank of Richmond 12/11 288 McClure, M. L., redesignated at FRBank of Kansas City 12/11 289 Mitchell, John R., redesignated at FRBank of Minneapolis 12/11 289 Newton, Isaac B., redesignated at MBank of San Francisco 12/11 290 29 Pages FRAgents: (Continued) 12/11 288 Newton, Oscar, redesignated at FRBank of Atlanta Stevens, Eugene, to be offered appointment at FRBank of Chicago 10/13 193 and salary fixed Anpointed Class C Director for three years and designated 10/29 224 FRAgent, resolution on 10/29 225 Press statement on appointment 12/11 290 Walsh, C. C., redesignated at FRBank of Dallas 12/11 289 Wood, John S., redesignated at FRBank of St. Louis 55 7/29 Vacation beginning about Aug. 11 PRBank of Atlanta: Directors: (See Directors) 12/22 319 Dividends to be paid as of Dec. 31, 1930 12/22 319 Earnings and expenses for 1930, estimated 12/15 301 Examination report as of Oct. 4 submitted in McKay, Withers, and Ramsey, payment of attorneys fees connection with liquidation of Citizens Bank 10/29 223 and Trust Co. of Tampa Personnel classification plan: 11/25 258 Change creating new position in Bank Relations Department approved /26 333 12 Branch Jacksonville and office Changes at head Rates: (See Rates) Staff: 12/22 324 Albertson, Ward, redesignated Assistant FRAgent 12/18 306 Designated Special Examiner Black, E. R.1 Member of committee to prepare public statement on availability of Federal Reserve credit: (See Press statements) Present at meeting of FRBoard to discuss request that New Orleans Branch act as custodian of warehouse receipts for Federal Intermediate Credit 278 12/6 Banks Advice from Ur. Black that FRBank will act as 280 12/9 custodian Visit to Havana Agency because of disturbed banking 9/30 164 conditions 12/18 307 Bowman, V. K., designated Special Examiner 12/18 307 Conniff, H. F., designated Special Examiner Employees granted extended sick leave during: 7/15 26 June 8/19 80 July 9/30 163 August September 10/13 190 11/17 October246 November 12/15 297 12/18 307 Harrison, H. N., designated Special Examiner 12/18 306 Honour, J. W., designated Special Examiner Johns, W. S., appointed Deputy Governor and salary approved 11/17 247 12/18 306 Designated Special Examiner 12/11 288 Newton, Oscar, redesignated FRAgent for 1931 Paris, E. P., appointed General Auditor and salary approved 11/17 247 12/18 306 Designated Special Examiner 30 Pages FRBank of Atlanta: (Continued) Staff: (Continued) Parker, Robert S., fee for services in case of Bobbitt et al v. RBank of Atlanta et al approved 7/25 Radford, R. A., designated Examiner for 1931 12/18 Taylor, Creed, Deputy Governor: Advice of death of 10/24 Visit to Havana Agency because of disturbed banking conditions 9/30 FRBank of Boston: Allowance to member of Federal Advisory Council to be $200 for each meeting attended 10/13 Directors: (See Directors) Dividends to be paid as of Dec. 31, 1930 12/22 Earnings and expenses for 1930, estimated 12/22 Examination report sabmitted anti certain losses to be discussed with Governor Young by Mr. Hamlin 12/31 Interdistrict time schedule, changes approved 8/19 Plan for wider distribution of Treasury bills among member banks, and the public, action of Governors Conference on 9/30 Report to be forwarded to Mr. Mills without action by FRBoard 10/1 Rates: (See Rates) Staff: Curtiss, Frederic H., redesignated FRAgent for 1931 12/11 Employees granted extended sick leave during: June 7/8 July 8/5 August 9/4 September 10/3 October 11/7 November 12/6 Gettemy, Charles P., redesignated Assistant FRAgent 12/22 Gilson, Royal W., designated Acting Assistant FRAgent to Aug. 25 8/19 Bond of 8/30 Lincoln, Harriet, appropriating sms11 amounts of money over three year period 12/31 McRae, William D., designated Acting Assistant FRAgent from Aug. 25 to Sept. 4 8/19 Bond of 8/30 Designation continued to Oct. 1 9/9 Young, Roy A.., appointed Governor and salary approved 9/3 Stockholders meeting, one representative of member bank to be reimbursed for expenses in attending 10/13 Theft of payroll, report by FRAgent on, matter ordered filed 7/10 Letter to Attorney General with report of FRAgent at Boston 7/25 FRBank of Chicago: Contribution to unemployment fund being raised by State of Illinois not approved 12/18 Directors: (See Directors) Dividends to be paid as of Dec. 31, 1930 12/22 Earnings and expenses for 1930, estimated 12/22 46 306 220 164 191 316 316 353 81 167 172 287 14 58 111 182 232 273 323 81 93 352 81 94 120 105 190 20 49 303 320 319 31 Pages FRBank of Chicago: (Continued) Personnel Classification Plan, changes in salary range and 11/25 258 creation of new positions approved Rates: (See Rates) Staff: 96 8/30 Bachman, Wm. C., designated Assistant Deputy Governor 7/22 39 Blair, J. H., Deputy Governor, in poor health Childs, K. C., Controller, to leave FRBank to accept another 7/22 38 position 56 7/29 Resignation tendered and accepted 96 8/30 Controller, title abolished 96 8/30 Delaney, E. A., appointed Assistant Deputy Governor suggested salary increase and promote to plan Dillard, J. H., 7/22 39 by Governor McDougal 9 /2 7 56 Governor Elected Deputy Employees granted extended sick leave during: 4 7/1 May 23 to June 26 8/5 59 June 27 to July 24 95 8/30 July 25 to August 21 182 10/3 August 22 to Sentember 25 10/29 223 Santember 26 to October 23 11/28 264 October 24 to November 20 12/29 341 November 21 to December 18 Heath, W. A., advice of desire to retire as Class C Director 10/16 202 and FRAgent at end of present term 10/29 225 Press statement on retirement 96 8/30 Jones, B. A.., designated Assistant Deputy Governor McDougal, J. B., statement on attitude toward report of 9/25 154 Open Market Policy Conference 96 8/30 Netterstrom, O. J., designated Assistant Deputy Governor Officers, titles to consist of Governor, Deputy Governors, 56 7/29 Assistant Deputy Governors and Managers 96 8/30 Olson, Arthur L., title changed to Manager, Loan Division 96 8/30 Prugh, George L., title changed to Manager, Loan Division in receipt FRAgent act for to Schelling, Carl, redesignated 12/22 324 and delivery of FRnotes as C appointment Class offered be to Eugene, Stevens, 10/13 193 director and FRAgent and salary fixed FRAgent, designated and Director Class C Appointed 10/29 224 resolution on 10/29 225 Press statement on appointment 10/12 212 White, Wm. H., bond as Assistant FRAgent 12/22 324 Redesignated for 1931 12/22 324 Young, Clifford S., redesignated Assistant FRAgent Stock) (See Stock: Strock, Cunningham, Sloan, and Herrick, pay of special attorneys 115 9/5 fees approved rRBank of Cleveland: Circular to member banks on calculation of reserves on deposits 234 11/7 on Sundays and holidays 11/17 Letter to FRBank with advice contrary to circular248 Directors: (See Directors) 12/22 318 Dividends to be paid as of Dec. 31, 1930 32 FRBank of Cleveland: (Continued) Earnings and expenses for 1930, estimated Examination report as of July 19 Invitation to members of FRBoard attending convention of American Bankers Association to use conveniences of FRBank Rates: (See Rates) Salary classification plan approved Staff: Anderson, J. B., redesignated Assistant FRAgent DeCamp, George, redesignated FRAgent for 1931 Employees granted extended sick leave during: June July August September November Fletcher, W. H., redesignated Assistant FRAgent Renz, Harold, designated Examiner FRBank of Dallas: Circular to member banks on computing reserves, paragraph approved Directors: (See Directors) Dividends to be paid as of Dec. 31, 1930 Earnings and expenses for 1930, estimated Examination report gdhmitted Indebtedness of three national banks to, letter on liquidation of Interdistrict time schedule, changes approved Personnel classification plan: Chances approved Creation of two appraised positions in Loan Department Changes involving discontinuance of two positions and creation of one new position Changes approved Rates: (See Rates) Staff: Alexander, R. H., appointed to fill new position in Loan Department, salary approved Dyer, W. J., appointed to fill new position in Loan Department, salary approved Employees granted extended sick leave during: June July August September October November Evans, W. J., redesignated Assistant FRAgent Hall, C. C., redesignated Assistant FRAgent McCallon, H. O., appointment and salary as member of examining staff Talley, Lynn P.: Member of committee to prepare public statement on availability of Federal Reserve credit: (See Press statements) Pages 12/22 318 86 8/19 9/18 134 11/7 233 12/22 323 12/11 287 7/15 8/19 9/17 10/15 12/9 12/22 12/9 26 80 127 196 281 323 282 11/25 259 12/22 322 12/22 322 7/22 43 7/15 8/19 28 81 233 11/7 11/13 244 11/25 258 12/31 350 11/13 244 11/13 244 7/8 8/8 9/9 10/7 11/10 12/6 12/22 12/22 15 71 119 185 240 273 324 324 12/22 324 33 Pages FRBank of Dallas: (Continued) Staff: (Continue(i) Talley, Lynn P.: (Continued) Statement on attitude toward purchases of securities under 9/25 153 present conditions 12/11 290 Walsh, C. C., redesignated FRAgent for 1931 Stock: (See Stock) PRBank of Kansas City: Conditions in district as result of drouth, etc., letter from 86 8/19 PRAgent to Mr. James Directors: (See Directors) 12/22 321 Dividends to be paid as of Dec. 31, 1930 12/22 321 Earnings and expenses for 1930, estimated 99 8/30 Examination report as of June 26 Meeting of directors of YRBank and branches, matters considered 11/25 255 at Rates: (See Rates) Staff: Employees granted extended sick leave during: 26 7/15 June 80 /19 8 July 9/22 137 Aagust 10/13 190 September 244 /13 11 October 281 12/9 November 12/22 324 FRAgent Assistant redesignated McAdams, A. M., 12/11 289 McClure, M. L., redesignated FRent for 1931 7/8 15 FRAgent Assistant Acting as Rhodes, H. H., bond 324 12/22 1931 for Redesignated Stock: (See Stock) PRIBank of Minneapolis: Directors: (See Directors) 12/22 321 Dividends to be paid as of Dec. 31, 1930 12/22 320 estimated 1930, Earnings and expenses for 7/22 43 submitted Examination report 12/18 307 Personnel classification plan approved Rates: (See Rates) Staff: Employees granted extended sick leave during: 7/10 18 June 8/8 71 July 119 9/9 August 185 10/7 September 11/10 240 October Homstrom, R. F., elected Assistant Cashier and salary 7/22 38 increased to month for absence of Johnson, Adeline, additional leave 119 9/9 recover from illness 289 12/11 1931 for Mitchell, John R., redesignated FRAgent 241 11/10 FRAgent Assistant Mosher, Curtis L., bond as 12/22 324 for 1931 Redesignated Powell, Oliver S., redesignated to act for PRAgent in 12/22 324 performance of certain duties 34 Pages FRBank of Minneapolis: (Continued) Staff: (Continued) Ziemer, Harry I., elected cashier in addition to position as Deputy Governor 7/22 Uelard, Andreas, no objection to publication of article on "Some Aspects of Economics" 12/31 Stock: (See Stock) Taxes on bank property, stipulation agreement with city providing for gradual reduction in valuation 12/15 FRBank of New York: Davis, Polk, Wardwell, Gardiner, and Reed, employed in connection with closing of Bank of United States 12/18 Directors: (See Directors) Dividends to be paid as of Dec. 31, 1930 12/22 Earnings and expenses for 1930, estimated 12/22 Locke, Locke, Stroud, and Randolph, payment of fee for legal services in effort to obtain repayment of wire transfer to Texas National Bank, Port Worth, Texas 9/22 Personnel classification plan: Changes creating new positions approved 7/22 Creation of two new positions approved 8/19 Changes submitted by Mr. Giibart approved 11/7 Changes approved 12/6 Rates: (See Rates) Self-insurance fund, limit fixed at $1,500,000 12/22 Reconsideration of limit and increased to $2,000,000 12/31 Staff: Case, J. H.: Acceptance of position as executive of institution resulting from merger of four New York City banks 12/6 Redesignated FRAgent for 1931 12/11 Crisp, Theodore M., Assistant Counsel, granted leave of absence without pay 12/18 Dillistin, William H., redesignated Assistant FRAgent 12/22 Downs, Herbert S., redesignated Assistant FRAgent 12/22 Employees granted extended sick leave during: June 7/10 July 8/19 Aagust 9/17 September 10/15 October 11/17 November 12/9 Harrison, G. L.: Present at Board meeting to discuss recent transaction in sterling authorized by directors of FRBank of New York 10/20 (See also Sterling) Report to FRBoard and Executive Committee of Open Market Policy Conference on failure of Bank of United States and on recent visit abroad 12/20 Statement of reasons for requesting authority for purchases of securities 9/25 38 352 299 306 317 317 138 39 80 233 274 313 349 277 287 306 325 323 18 80 127 196 246 281 310 155 35 Pages FRBank of New York: (Continued) Staff: Physicians, adjustments in salaries because of change in 12/29 341 hours of attendance 12/18 306 Schultz, Harold S., salary as Assistant Counsel approved Thomas, Woodlief, salary as member of research staff approved 9/17 126 Sterling, purchase up to L5,000,000 and funds to be on deposit 10/15 198 or to acquire sterling bills (See also Sterling) Stock: (See Stock) MBank of Philadelphia: Allowance to member of Federal Advisory Council to be $100 for 10/13 191 each meeting attended (See Directors) Directors: 12/22 317 Dividends to be paid as of Dec. 31, 1930 12/22 317 Earnings and expenses for 1930, estimated 11/28 266 Personnel classification °len aoloroved Rates: (See Rates) Staff: 12111 287 Austin, R. L., redesignated FR.Agent for 1931 Berger, Thomas C., designated special assistant to examiners 10/13 190 amployees granted extended sick leave during: 18 7/10 June 8/19 so July 9/9 119 August 10/13 190 September 11/10 240 October 273 12/6 November Examiners, designation of ten employees as mecial assistants 9/17 128 to Greely, Thomas L., possible violation of provisions of Revised Statutes in connection with shortage 10/22 213 7/8 15 Rill, E. C., bond as Assistant FRAgent 12/22 323 Redesignated for 1931 Mahan, Charles A., Jr., possible violation of provisions of Revised Statutes in connection with shortage 10/22 213 Norris, Geo. W.: Opposed to recent purchase of Government securities by 86 8/19 FRBanks 9/25 156 Statement on report of Open Market Policy Conference 3/22 323 Post, Arthur E., redesignated Assistant FRAgent 12/22 323 Rehfuss, J. P., redesignated Acting Assistant RAgent 9/30 163 Reid, George, designated Assistant to Examiners Shermer, Charles A.., Jr., designated special Assistant to 10/13 190 examiners IltBank of Richmond: Building, low bid for addition made by J. A. Jones Construction Co. and FRBRn% authorized to proceed with 3 7/1 construction Directors: (See Directors) 12/22 318 Dividends to be paid as of Dec. 31, 1930 Earnings and expenses for 1930, estimated 12/22 318 Rates: (See Rates) Pages 36 FRBank of Richmond: .(Continued) Staff: Employees granted extended sick leave during: June July August September October November Fry, J. G., bond as Assistant FRAgent Redesignated for 1931 Hoxton, W. W., redesignated FRAgent for 1931 Shepherd, R. L., redesignated Acting Assistant Agent Suit brought against G. S. Attmore, customer of failed First National Bank of New Bern, N. C. Employment of Newton D. Baker on System basis recommended Employment of Mr. Baker approved and compensation subject to approval of FRBoard FRBank of St. Louis: Circular to member banks on calculation of reserves on deposits on Sundays and holidays Letter to FRBnn1,- with advice contrary to circular Directors: (See Directors) Dividends to be paid as of Dec. 31, 1930 Earnings and expenses for 1930, estimated Personnel classification plan, changes approved 7/22 8/19 9/12 10/13 11/17 12/6 11/25 12/22 12/11 12/22 38 BO 122 190 246 273 260 323 288 323 10/24 10/29 220 222 11/7 237 11/7 11/17 234 248 12/22 12/22 12/6 12/15 320 320 274 296 Rates: (See Rates) Staff: Bailey, L. H., redesignated First Acting Assistant FRAgent 12/22 Employees granted extended sick leave during: June 7/10 July 8/5 August 9/9 September 10/7 October 11/7 November 12/6 Maguire, Frank P., redesignated Second Acting Assistant FRAgent 12/22 Stewart, C. M., redesignated Assistant FRAgent 12/22 Wood, John S., FRAgent: Redesignated for 1931 12/11 Vacation beginning about Aag. 11 approved 7/29 stock: (See Stock) FRBank of San Francisco: Directors: (See Directors) Dividends to be paid as of Dec. 31, 1930 12/22 Earnings and expenses for 1930, estimated 12/22 Examination report submitted 7/22 Personnel classification plan, changes approved 10/23 Staff: Calkins, J. U.: Letter opposing procedure of Open Market Policy Conference in recommending purchase of securities 9/3 Statement of attitude toward report of Open Market Policy Conference 9/25 324 18 58 119 185 232 273 324 324 289 55 323 322 43 216 103 154 37 Pages :MBank of San Francisco: (Continued) Staff: (Continued) Employees granted extenied sick leave during: June July August September October November Newton, Isaac B., redesignated FRAgent for 1931 Sargent, S. G.: Redesignated Assistant FRAgent Redesignated Chief Examiner for 1931 Sonne, H. A., redesignated Examiner for 1931 Wheeler, Oliver P., salary increased as Acting Assistant 2RAgent Appointed Assistant 'RAgent Bond of Redesignated for 1931 FRBanks: Assessment for expenses of FRBoard Directors: (See Directors) Dividends, semi-annual to be paid as of Dec. 31, 1930, approved Interest at rate of one-half of one per cent per month to be paid to withdrawing member banks Earnings: Distribution of, replies of FRAgents and Governors on H.R. 10211 to change Statement for 1930 Educational and welfare work, expenditures during: June July August September October 'November Examinations: (See Examinations) Franchise taxes to be paid for 1930 Rates: (See Rates) Self_insurance, amaunt of reserves now held by FRBanks and limits suggested. by Mr. Smead. Stock: (See Stock) Board: Budget for 1931 approved BYlaws, amendment to prohibit resolutions on retirement of members, referred to Mr. Miller Alternate amendments to Section 4 of Article XV submitted Amendment adopted Community Chest, District, letter from President on organization for forthcoming campaign Camptometer machine, purchase by Division of Bank Operations for use by Committee on Branch, Group and Chain Banking 7/22 38 80 8/19 9/22 137 10/13 190 11/13 244 12/11291 12/11 290 12/22 324 12/26 332 12/26 332 3 7/1 9/22 137 10/7 185 12/22 324 12/29 346 12/22 314 12/26 335 62 8/5 12/22 314 8/5 8/19 9/18 11/13 11/25 12/18 60 80 133 244 260 305 12/22 314 12/22 313 12/29 345 9/18 133 9/25 150 10/13 188 11/7 238 11/25 261 38 Pages FRBoard: (Continued) Division of Examination directed to make at least one 12/22 examination of each MBank during 1931 Employees: (See Staff of FRBoard) Exhibit to be made by Government at Chicago World's Fair of 1933, participation in 10/22 Reply to Assistant Secretary of State that RBoard is inclined to participate, to be referred to Committee and estimate of space required 11/7 Letter to Assistant Secretary of State on probable nature of exhibit 11/10 Expenses of, assessment on FRanks for 12/29 Members: Cunningham, E. H.: Death of, Mr. Hamlin to prepare appropriate resolutions 12/2 Resolution adopted and copy to be sent Mts. Cunningham and to FRBank of Richmond 12/11 Designated member of Executive Committee for three months 10/3 Minimum buying rate at FRBank of Chicago, statement on vote for reduction in 7/1 Invited to use conveniences of RBank of Cleveland if any attend convention of American Bankers Association 9/18 James, George R.: Executive Committee, appointed member for three months 7/8 Expiration of term as member 10/3 Statement on violations of conditions of membership by State member banks 8/3 Miller, A. C.: Authority and responsibility of FRBoard in connection with purchase and sale of bills of exchange and acceptances abroad 10/15 Executive Committee, expiration of term as member 7/8 Review of the Month, suggestion for procedure in handling before releasing for publication 10/2 Platt, Edmund, resignation effective Sept. 15 9/12 Resolution on resignation adopted, engrossed copy to be transmitted 9/17 Young, Roy A., resignation accepted by President and letters from President Hoover and Mr. Mellon on 8/30 Resolution of FRBoard on resignation, engrossed copy to be transmitted 9/5 quarters: Lease for space in Otis Building, inquiry of General Accounting Office as to why not executed on standard form 7/1 Staff: (See Staff of FRBoard) FRBulletin: Announcement of banks filing notice of intention to withdraw from FRSystem, referred to Counsel and to Conference of FRAgents and Governors 9/17 Conferences of RAgents and Governors opposed to publication, no change in present plan 9/30 327 213 238 240 346 268 285 182 1 134 14 182 75 198 14 180 124 127 100 114 7 129 165 39 Pages FRBulletinl (Continued) Clayton Act permits, ruling on effect of consolidations to be 5 7/1 published in to be law Regulation A as revised Pm/ three recent amendments to 7/22 42 published in reserves on that section Regulation D, statement on amendment to net deposit balances be calculated at opening of business instead of close, to be published 10/2 178 Regulation T as amended to provide for voluntary surrender of 10/17 208 trust powers approved for publication 7/22 32 in Regulation J as amended to be published 8/8 72 Reserves, digest of State laws to be published handling Review of the Month, suegestion of Mr. Miller for 10/2 180 release of Rulings on eligibility of notes of insurance companies for rediscount and on deposits of member banks with 10/29 224 nonmember banks to be published in Austin to Statistical data appearing in, permission to William 12/11 290 use in article for "Railway Age" PRnotes: Baltimore Branch, plan for custody of stock of unissued under 12/18 308 dual control approved Charlotte Branch, plan for joint custody of stock of unissued 12/11 293 approved Plan not sufficiently flexible at present and appointment 12/15 295 of Acting Assistant FRAgent approved Cincinnati Branch, supply of unissued to be maintained under 8/30 triple control arrangement 97 Memo of Counsel that agreement between FRAgent and FRBank is in proper form 9/22 137 Custody of unissued at branches of FRBanks of Cleveland and Atlanta, circular to FRBanks on arrangements 265 for Detroit Branch, advisability of maintaining stock of unissued at N: 254 Los Angeles Branch, agreement covering custody of stock of 12/22 326 unissued at Resolution of directors authorizing agreement and letter to 12/29 341 FRAgent approving plan Rew Orleans Branch, plan for custody of unissued at also to 173 10/1 include gold coin and/or gold certificates Plan approved up to $10,000,000 for PRnotes and $2,000,000 10/15 197 for gold Outline of procedure in effect at branches of FRBank of St. 12/15 300 Louis covering receipt of Reserve stocks of unisaaed at branches of FRBank of Dallas, provision for establishment if deemed 276 12/6 advisable plan MBank approved 12/9 280 Action reconsidered and of of Board 11411o • powers: Bases for recommendations of directors of PRBanks on applications of national banks, letter from Governor 7/10 Harrison 21 Columbus Exchange Bank, Providence, R. I., application approved 8/5 60 40 Pages Fiduciary powers: (Continued) First and Merchants National Bank, Richmond, Va., plan of uniform trusts proposed to be put in operation 7/15 Reply to Comptroller of Currency that plan does not contravene provisions of FRAct or regulation of FRBoard 7/25 First National Bank., Gulfport, Miss., to make confirmatory application and receive new permit 12/9 First National Bank, McKinney, Texas, now in receivership, disposition of trust business of 12/6 First National Bank, Thomson, Ga., application refused because of insufficient capital 9/9 First National Bank and Trust Co. of Bloomington, Ill., application for fiduciary powers 10/16 Application approved 10/22 Lake Norden National Bank, Lake Norden, S. D., application approved 7/22 National Bank and Trust Co., Connellsville, Pa., application approved 8/30 National Capital Bank, Washington, D. C., action on application deferred 7/8 Permission to act as registrar of stocks and bonds granted 12/11 Regulation F amended to provide for voluntary surrender by national banks 10/17 Voluntary surrender by national banks, S. 3627 signed by President 7/1 Amendment to be published in FR3ulletin 7/22 Foreign accounts, amount of short term funds held in New York for, as of: June 30 7/25 July 31 8/19 Sept. 30 10/17 Revised reports for Aug. 30 and Sept. 30 submitted 10/22 Oct. 31 11/17 Nov. 30 12/26 Foreign banking corporations: American Banking and Industrial Corporation for the Near East, organization papers and articles of association, letters to FRAgent and to Secretary of State approved 8/5 Letter to FRAgent at New York for more definite statement of reasons for recommending disapproval of application 10/22 Reply of FRAgent with reasons for unfavorable recommendation 11/10 Atlantic Corporation of Boston, has not functioned as foreign banking corporation, Atlantic National Bank must give up stock holdings and agreement with FRBoard will be cancelled 7/25 Change in situation being worked on by national bank 8/5 National bank advised that turning stock over to trustees is not effectually disposing of holdings 9/17 Chase Bank: Amendment to articles of association to increase board of directors to eleven 10/22 25 48 282 276 118 201 212 36 94 11 285 206 6 42 48 83 204 213 248 334 63 214 241 49 61 130 213 41 Pages Foreign banking corporations: (Continued) Chase Bank: (Continued) Examination of foreign branches, National bank examiners 116 9/5 designated as agents of FRBoard for Not to examine this year but one to be made in 1931 at same 269 12/2 time Paris Branch is being examined Equitable Eastern Banking Corporation, National bank examiners designated as agents of RBoard for examination 116 9/5 of foreign branches Examination of foreign branches, three national bs* examiners 116 9/5 designated as agents of FRBoard for Federal International Banking Coruoration: Amendments to Sec. 25(a) of FRAct suggested by organizers of 12/15 300 Organization certificate, etc., replies awaited to letters to FRAgents at New York and Richmond before 10 7/8 approval of Replies of FRAgents at Richmond and New York received, articles of association and organization certificate approved and. permit to commlete 24 7/15 organization First Federal Foreign Banking Corporation, New York, report of examination and letter from President that recommendation of Examiner will be carried 269 12/2 out International Banking Corporation, National bank examiners designated as agents of FRBoard for 116 9/5 examination of foreign branches Organization of State corporation by Second National Bank of 10 Boston, capitalization discussed by Mr. Hamlin 7/8 application of national bank to purchase $100,000 in stock 22 7/10 of corporation disapproved Plan to organize corporation with capital of $500,000 presented by attorney, application to be 7/22 31 approved Executive Officer authorized to approve application for organization and also purchase of stock by 7/25 53 national bank CTI branches: (See Branch banks, foreign) Pereign loans, resolution introduced by Senator Glass on State Department passing upon and interference with 6 7/1 YRSystem 12/26 334 Bill removed from table and referred to Committee lio Cerieral Accounting Office, inquiry why lease for space in Otis ' 7 7/1 Building was not executed on standard form Glas g, Senator Carter: 6 7/1 Bill introduced to amend National Bank Act and FRAct Report of Conference of TRAgents on memo of Assistant Counsel 9/30 170 on bill Resolution on State Department passing on foreign loans and 6 7/1 interference with FRSystem Bill removed from table and referred to Committee on Banking 12/26 334 and Currency of Senate 42 Paces Gold coin and/or gold certificates held as collateral against FRnotes at New Orleans Branch, plan for custody of 10/1 Plan approved up to $2,000,000 10/15 Governors Conference: (See Conferences, Governors) Grain Stabilization Corporation, eligibility for rediscount of acceptances drawn on number of different accepting banks 9/3 Letter to Chairman of Federal Farm Board that such acceptances are eligible and stating conditions 9/3 173 197 106 115 IIHSI Hearings, FRBoard: First State Bank of Abernathy, Texas, on forfeiture of membership 11/17 To aypear before MAgent at Dallas on Dec. 10 12/2 Report of hearing before YRAgent and desire of bank to continue membership 12/18 Holidays: Dec. 24, FRBoard to maintain Skeleton organization and employees who can be spared to be excused 12/22 Hoover, Herbert, letter from Mr. Young tendering resignation as Governor of FRBoard and reply of President 6/30 Humphrey Robinson and Company: (See Examiners) Insurance: Notes of companies the proceeds of which are used to carry accounts covering premiums due are ineligible for rediscount at FRBanks 8/30 Ruling to be published in FRBulletin 10/29 Self, proper limit on reserves now carried or to be established by FRBanks 9/25 Amount of reserves now held by RBanks and limits suggested by Mr. Smead 12/22 Reconsideration of limit fixed for FRBank of New York and increased to $2,000,000 12/31 Interlocking directorates: Applications approved: Adams, Nathan 12/9 Allen, Charles L. 8/19 Allen, Harding 8/19 Andrews, Avery D. 8/19 Ashmead, Warren B. 10/3 Avent, George J. 11/25 Baden, James H. 12/29 Ball, Edward 12/6 Bennett, Walter H. 9/17 Betz, Chas. P. 12/26 Brenton, Clyde E. 8/5 Brenton, W. H. 8/5 Brouse, C. E. 10/2 Brulatour, J. E. 9/17 Bryant, C. B. 8/19 Bullock, Chandler 8/19 249 268 304 324 100 96 224 149 312 349 283 90 90 88 184 263 347 279 131 337 66 66 181 131 88 90 43 Pages Interlocking directorates: (Continued) Applications approved: (Continued) Burdick, Howard Byrne, John B. Caldwell, James E. Caldwell, Meredith Carpenter, Robert R. M. Childs, Richard T. Cleveland, Richard C. Covington, Harry S. Cray, James R. Crocker, Douglas Crompton, George Dammann, Milton Davis, A. Otis Davison, Emmett C. Dean, William J. Debevoise, Thomas M. Dick, Albert 3., Jr. Dickerman, William C. Dorchester, C. B. Douglas, J. F. Drukker, Louis Duval, W. H. Ellis, Theodore T. Edwards, F. Z. Ehrhart, V. H. Everitt, John W. Fagan, James J. Farrell, Frank A. Farrell, J. Fletcher Ford, Shirley S. Forsberg, G. W. Gage, Homer Gage, T. Hovey Gardner, E. T. Gaskill, George A. Gifford, Albert J. Gilbert, W. S. Goodman, William H. Hack, Harold W. Hall, John L. Hannaford, Jule M. Hardy, Toney A. Harris, J. A., Jr. Hart, William P. Hendrick, John Thilman Heywood, Albert S. Higgins, Aldus C. Higley, Chas. W. Hillman, J. H., Jr. Hubbard, Walter J., Jr. Hughey, W. E. Jeppson, George N. 10/30 7/1 9/17 9/17 12/15 10/17 8/19 7/10 10/13 8/19 8/19 9/4 12/2 12/29 8/5 8/19 8/19 9/3 8/19 8/19 10/17 9/12 8/19 8/19 12/2 9/30 8/5 10/17 9/18 12/6 11/17 8/19 12/2 7/8 12/2 8/19 9/3 11/25 10/2 9/17 8/5 9/22 8/5 8/19 11/17 8/19 8/19 7/8 9/4 7/22 10/17 8/19 229 8 131 131 302 208 90 23 195 90 91 112 271 347 65 87 88 109 88 88 208 124 91 88 271 170 65 208 135 279 250 90 272 17 271 91 109 262 180 131 66 139 66 89 250 90 92 17 112 44 208 92 44 Interlocking directorates: (Continued) Applications approved: (Continued) Johnson, F. P. Johnson, George B. Johnson, Holcombe G. Johnson, J. Lovell Johnston, D. W. Kimbell, Kay Kimbell, Raymond G. Kupferer, Oscar L. Lamb, Charles J. Lee, P. Blair Levering, J. Walter Liddle, C. A. Lindsay, A. W. Loeffler, Prank R. Lowe, Arthur H. Macomber, John R. Masters, Chester D. Matchett, J. P. Maxwell, Lloyd R. McClung, H. J. McKay, N. A. McMillen, D. W. Meier, J. L. Meyer, John P. Montgomery, W. C. Morgan, Paul B. Morley, Wallace T. NUgent, Robert deB. Olcott, Marvin Ottis, Frank J. Page, Albert N. Parka, Robert S. Patterson, George Stuart Payson, Harold C. Pearlstone, Hyman Potter, Edward, Jr. Rand, Waldron H., Jr• Rehme, Jose.oh L. Reidy, Maurice F. Robertson, Albert J. Robinson, Harry H. Sawyer, William H. Scharbauer, John Schlidk, Frank Schmidt, George F. Schneider, Frederick C. Schwalbe, P. C. Schwalbe, Frank C. Scribner, Gilbert H. Seip, Emil G. Simmonds, Alvan T. Slocum, Wellington R. Smith, Lloyd W. Smith, Sherrill Pages 12/15 10/24 12/29 8/19 7/15 8/19 12/2 12/26 10/13 11/10 7/25 9/30 9/3 11/7 8/19 9/3 7/25 9/12 9/17 9/3 12/18 12/18 10/3 12/26 7/25 12/2 8/19 11/10 10/30 8/5 12/2 8/19 10/13 12/15 11/25 9/17 10/24 8/5 8/19 8/5 7/29 12/2 10/22 8/5 10/17 11/25 7/15 11/25 12/2 7/25 8/19 10/29 9/9 10/7 302 221 347 92 30 88 270 336 195 242 53 171 110 239 89 110 54 125 131 109 309 309 184 336 54 272 92 242 229 66 270 92 195 302 262 131 221 65 92 66 57 272 215 66 208 262 30 262 271 54 91 226 120 186 45 Pages Interlocking directorates: (Continued) Applications approved: (Continued) 12/22 328 Smith, Sherrill 10/29 226 Soliday, Joseph H. 66 8/5 Sommers, Benjamin 309 12/18 Stewart, John R. 272 12/2 Stoddard, Harry G. 87 8/19 Stuart, E. H. 8 /3 0 102 Stuart, R. Douglas 12/26 337 Stupp, Erwin P. 91 8/19 Swift, Willard E. 271 12/2 Taylor, Forrest W. 11/25 262 Thompson, Thomas H. 8/19 91 Tinsley, John F. 89 8/19 Tufts, Walter 3/19 39 Vaughan, Ernest H. 8 7/1 Veghte, Charles B. 7/29 57 Verdon, Frederick A10/22 215 Vose, R. A. 7 7/1 Walgreen, Charles R. 8/19 89 Wallace, Frederick 7 7/1 Warner, Rawleigh 9/4 113 Weathers, Benjamin S. 89 8/19 White, John E. 271 12/2 Whitney, Warren A. 12/2 271 Whittall, Matthew P. 8/19 88 Wilbanks, B. B. 53 7/25 Wilkins, C. L. 89 8/19 Willard, F. H. 271 12/2 Woodward, Samuel B. 89 8/19 Wright, Burton H. Miscellaneous: Brown, James B., service as director of National Bank of Kentucky and six other banks, permit can cover 11/13 243 not more than three Consolidation of First National Bank, Philadelphia, and Eighth National Bank, no action to be taken to 10/13 192 revoke permits granted to directors of bank Ferguson, Frank C., advised to sever connection with one bank 11/10 241 and file application to serve other three Letter from Mr. Ferguson that consolidation of two of banks is being planned, to be again advised 12/31 352 that he can serve but three banks four serve to continue Hillman, J. H., Jr., cannot lawfully 5 7/1 banks in Pittsburgh Kasten, Walter, letter to FRAgent for information on service 7/8 17 on certain Milwaukee banks 7/22 41 Letter to FRAgent on legality of service Lord, Robert 0., letter to Mr. B. K. Patterson that PRBoard 96 8/30 cannot permit to serve more than three banks Marchant, T. M., permit not necessary to cover present 9/22 138 connections Peace, B. H., permit not necessary to cover present 9/22 138 connections 46 Pages Interlocking directorates: (Continued) Miscellaneous: (Continued) Permits previously granted to directors of Central National Bank of Philadelphia and Penn National Bank, now consolidated, not to be revoked 84 8/19 Ruling on effect of consolidations on permits, to be published in YR:Bulletin 5 7/1 Senate resolution to investigate enforcement of anti-trust laws including provisions of Clayton Act 12/11 294 Worchester County National Bank, Worcester, Mass., and other institutions, action on applications involving 268 12/2 Jones, J. A.., Construction Co. of Charlotte, N. C., low bidder on addition to MBank of Richmond 7/1 Knabenshue, Paul, letter to Secretary of State on qualifications to organize and become president of a foreign banking corporation 8/5 63 fila Lacy, William, telegram on poor response to Community Chest drive by employees of Los Angeles Branch 11/3 Lease for space in Otis Building, inquiry of General Accounting Office why not executed on standard form 7/1 Legislation: Congressional service of Corporation Trust Co., subscription approved 11/25 Earnings of FRBanks, replies of FRAgents and Governors on H.R. 10211 to change distribution of 8/5 FRAct, amendments to Sec. 25(a).suggested by organizers of Federal International Banking Corporation 12/15 (See also FRAct) Recommended to 71st Congress, status of 7/15 S.B. 305, resolution introduced by Senator Glass on State Department passing on foreign loans and interference with FRSystem . 7/1 Bill removed from table and referred to Committee on Banking and Currency of Senate 12/26 S.R. 358, to investigate enforcement of anti-trust laws including interlocking bank directorates under Clayton Act 12/11 S.R. 359 directing PRBoard to advise steps taken or to be taken to meet depression and consequent unemployment and low prices . 12/11 S. 485 amending Sec. 9 of FRAct making it discretionary to assess costs of examining State member banks, aoproved by President 7/1 To be published in FRBulletin for August 7/22 230 7 261 62 300 30 6 334 294 294 6 42 47 Pages Legislation: (Continued) S. 486, authorizing national banks receiving deposits of public funds from States to pledge securities to secure 6 7/1 such deposits S. 3627, authorizing voluntary surrender of trust powers by 7/1 6 national banks, signed by President 7/22 42 Amendment to be published in RBulletin S. 4096 to amend Sec. 4 of FRAct to clarify meaning of phrase 7/1 6 "electors voting", approved by President 7/22 42 Amendment to be published in FRBulletin S. 4723, bill introduced by Senator Glass to amend NationAl Bank 6 7/1 Act and FRAct Report of FRAgents Conference on memo of Assistant Counsel of 9/30 170 FRBoard on S. 5109, to liquidate and refinance agricultural indebtedness and 12/15 300 encourage agriculture, etc. Livestock loan comoany, loan to: (See Loans) Loans: American Cooperative Cotton Association by Federal Intermediate Credit Banks, request that FRBank act as custodian of warehouse receipts pledged to 278 12/6 secure act Atlanta will Advice from Governor Black that FRBank of 280 12/9 as custodian consolidated in Brokers, classification of security loans shown 60 call reports published by FRBoard, changes in 8/5 Foreign, in this country, resolution introduced by Senator Glass on practice of State Department in passing 6 7/1 upon Committee on Banking Bill removed from table and referred to 12/26 334 and Currency of Senate report of Louisville Tru.st Co. to Humphrey Robinson and Co., examination showing violation of criminal 183 10/2 statutes Not to be reported to Attorney General and FRBank to make 10/22 214 independent examination Notes maxie by Federal Intermediate Credit Bank to livestock loan company or agricultural credit corporation, 7/15 29 eligibility for rediscount at FRBanks Proposed letter to Governor of FRBank of San Francisco 9/3 108 referred to Mr. Cunningham , (See also Rediscounts) 44dke. Locke, Stroud, and Randolph, payment of fee by FRBank of New York for services to obtain repayment of sum 9/22 138 paid to Texas National Bank of Fort Worth L°8 Allgeles Community Chest, telegram from Mr. William Lacy on poor 11/3 230 response by employees of FRBranch Bank Llither, Dr., President of Reichsbank, expected in Washington, postponement of meeting of Federal Advisory 10/16 200 Council authorized Visit cancelled 10/22 214 48 Pages limit McAdams, Thomas B., letter on calculation of reserves at beginning of day instead of close, referred to Mr. Smead for independent consideration by Committee 9/4 Plan anproved after report from Conferences of Governors and FRAgents 9/30 McKay, Withers, and Ramsey, payment of attorneys fees in connection with liquidation of Citizens Bank and Trust Co. of Tampa 10/29 McKellar, Senator, resolution introduced to investigate enforcement of anti-trust laws including provisions of Clayton Act 12/11 Member banks: Los Angeles and San Francisco, reserve survey soon to be completed 12/2 (See also National bnnlcs, State member banks) Membership in FRSystem: Application for, letter to FRAgent at Cleveland on circumstances to be considered in passing unon 12/11 Condition regarding purchase of bank stocks by Slate member institutions, replies of FRBanks to circular on revision of 9/3 Action of Conferences of Governors and FRAgents on revision of condition, no change pending report of Committee on Branch, Chain and Group Banking 9/30 Amendment discussed but Regulation H to be reprinted in pamphlet form as it now stands 10/2 Continuance of, letter to FRAgent at Dallas on when recommendations should be submitted to officers or directors of bank 12/15 Dallas Bank and Trust Co., Dallas, Texas, anplication approved and also to purchase assets of Dallas National Bank 12/29 First State Bank of Newcastle, Wyoming, application approved with special condition 10/16 National banks: (See National banks) Peoples Banking and Trust Co., Elizabeth, N. J., application approved and also purchase of stock in PRBarar of New York 8/8 State metber banks: (See State member banks) Mortgages: Vcela Building and Loan Association, Cleveland, Ohio, no objection to purchase by Guardian Trust Co. 9/17 Murray, Aldrich, and Webb, attorneys for Chase Bank, letter on amendment to articles of association 10/22 111 164 223 294 269 292 108 167 180 298 343 202 76 128 213 National Association of Finance Companies, recommendation of Federal Advisory Council that notes not be eligible ' for rediscount 11/18 252 National Bank Act, bill introduced by Senator Glass to amend provisions of 6 7/1 Report of Conference of FRAgents on memo of Assistant Counsel of FRBoard on 9/30 170 49 Pages National banks: American National Bank, Paris, Texas, report of continued 236 11/7 reserve deficiency Athens National Bank, Athens, Texas, report of continued reserve deficiency, referred to Comptroller of the 11/7 235 Currency Reply of Comptroller of the Currency with copy of letter to 11/25 261 Chief National Bank Examiner Atlantic National Bank, Boston, Mass., must give up stock holdings in Atlantic Corporation unless it 7/25 49 functions as foreign banking corporation 8/5 61 Change in situation being worked on by national bank Advised that turning stock over to trustee is not effectually 9/17 130 disposing of holdings Bank of America National Trust and Savings Association, San Francisco, establishment of branch at No. 12 Nicholas Lane, London, E. C. 4, England, to 12/31 350 be treated as new application Bank of Italy National Trust and Savings Association, classification of deposits of, FRAgent to 7/22 35 submit analysis Letter to 'Rent presented and to be discussed with 69 8/6 Comptroller of the Currency Letter referred to Mr. Await and then transmitted to FRAgent 72 8/6 at San Francisco Letter from FRAgent that reply will be made when examination 9/9 120 now being made is comoleted Survey of reserve requirements delayed by merger with Bank 269 12/2 of America Bonds, circulation, advice of no applications for sale: 7/10 19 During second quarter 185 10/7 During third quarter Broadway National Bank, Nashville, Tenn., application to rediscount paper for nonmember bank for sixty 11/17 248 days approved Broadway National Bank and Trust Co., New York City, proposed liquidation and to merge into Plaza Trust Co. 9/17 128 Brotherhood of Railway Clerks National Bank, Cincinnati, Ohio, assets to be purchased and liabilities 7/15 27 assumed by Central Trust Co. Capital stock: (See Stock) Chester National Bank, Chester, Pa., purchase by Cambridge Trust 10/16 201 Co. Citizens National Bank, Jenkintown, Pa., condition of, view of Chief Examiner that bank can work out of 9/12 123 difficulties CitY National Bank, Morristown, Tenn., reduction in capital 9/9 118 stock approved Condition re-oorts: 7/8 14 Call as of June 30 9/30 162 Call as of Sept. 24 Dallas National Bank, Dallas, Texas, assets to be purchased and liabilities assumed by Dallas Bank and Trust 12/29 344 Co. 50 Patc5TS National banks: (Continued) Deposits of public funds from States, authorized to pledge securities to secure 7/1 Drovers and Mechanics National Bank, Baltimore, Md., to merge into Maryland Trust Co. 7/25 Eighth National Bank, Philadelphia, Pa., no action to revoke permits to directors because of consolidation 10/13 Exchange National Bank, Ardmore, Okla., request that remittances on drafts from nonmamber bnnks in St. Louis District be credited to its account at FRBank of Kansas City 7/22 Letter from Assistant Cashier of MBank with letter from national bank on handling of drafts 8/5 Farmers National Bank, Forney, Texas, reduction in capital stock approved 12/31 Fiduciary powers: Bases for recommendations of directors of FRBanks on anplications for, letter from 3overnor Harrison on 7/10 Voluntary surrender of, S. 3627 signed by President 7/1 Amendment to be published in FR3ulletin 7/22 (See also Fiduciary powers) First and Merchants National Bank, Richmond, Va., plan of uniform trusts proposed to be nut in operation 7/15 Rely to Comptroller of the Currency that nlan does not contravene provision of YRAct or regulation of FRBoard 7/25 First National Bank, Bennington, Okla., report of continued reserve deficiency 11/7 First National Bank of Boston: Foreign branches: Argentine Republic, Ayellaneda and Rosario de Santa Fe, application anproved 10/17 Buenos Aires and Havana, to mnke application for subbranches of branches in 9/9 Permission to establish branches in Buenos Aires and in Cuba 10/13 Designation as sub-branches or sub-offices for administrative purposes, no objection to 10/17 First National Bank, Butte, Nebr., reduction in capital approved 8/19 First National Bank, Carrollton, Ga., assets taken over and liabilities assumed by Peoples Bank 12/22 First National Bank, Coats, Kansas, report of continued deficiency in reserves 10/3 First National Bank of Comanche, Okla., reduction in capital stock approved. 11/17 First National Bank, Corinth, Miss., report of continued reserve deficiency, action deferred 12/11 First National Bank, Del Rio, Texas, continued reserve deficiency reported 11/7 First National Bank, Derby, Iowa, payment of snecial attorneys fees by FRBank of Chicago for collection of indebtedness of 9/5 6 50 192 42 61 351 21 6 42 25 48 236 204 120 192 205 83 326 183 248 291 236 115 51 Pages National banks: (Continued) First National Bank of Evergreen, Ala., to consolidate with 5 7/1 Peoples Bank of Evergreen First National Bank, Fountain, Colo., report of continued 7/8 16 deficiency in reserves First National Bank of Garrison, N. D., report of continued deficiency in reserves, effort to sell or 9/18 133 reorganize bank Letter from FRAgent that another examination will soon be 10/13 191 made, no action to be taken at this time 11/28 265 Reorganized and now carrying ample reserve First National Bank, Gary, S. Dak., report of continued 11/28 265 deficiency in reserves 12/22 327 Advice that reserves are now adequate First National Bank, Gulfport, Miss., to make confirmatory application for fiduciary powers and receive 282 12/9 new permit . First National Bank in Harper, Kansas, reduction in capital 12/6 274 stock aplproved First National Bank, Hemphill, Texas, report of continued 275 12/6 reserve deficiency First National Bank, Jayton, Texas, report of continued reserve 12/6 275 deficiency First National Bank, Kalispell, Mont., reduction in capital 10/30 227 aporoved First National Bank, Kerkhoven, Minn., report of continued 11/28 264 reserve deficiency recommending deficiency and continued on FRAgent Re?ort of 12/22 327 that no action be taken for one month First National Bank, Laurel, Miss., permission to accent to 16 7/8 100 per cent of capital and surDlus First National Bank, Marion, Ind., assets of Grant Trust and Savings Co. purchased and liabilities assumed 11/25 260 First National Bank, McKinney, Texas, now in receivership, 276 12/6 disposition of trust business of First National Bank, Motley, Minn., report of continued 11/28 265 deficiency in reserves 12/22 327 Advice that reserves are now adequate First National Bank, Mt. Sterling, Ill., appointment of receiver 12/11 293 recommended in order to cancel MBank stock First National Bank of New Bern, N. C., case of Attmore, a customer, v. FR3ank of Richmond: (See Court cases) First National Bank, Parlier, Calif., reduction in capital 12/18 308 approved. First National Bank, Philadelphia, Pa., no action to revoke permits to directors because of consolidation 10/13 192 First National Bank, Spanish Fork, Utah, to consolidate 26 7/15 Commercial Bank First National Bank, Thomson, Ga., annlication for fiduciary 118 powers refused because of insufficient capital 9/9 First National Bank of Ullin, Ill., report of continued deficiency 7/15 28 in reserves, action deferred 52 Pages National banks: (Continued) First National Bank, Woodstock, Minn., report of continued deficiency in reserves 12/22 First National Bank and Trust Co. of Bloomington, Ill., reorganization of First National Bank, application for fiduciary powers 10/16 Application approved 10/22 Havelock National Bank of Lincoln, Nebr., application to continue to maintain reserves as before included in reserve city approved 11/25 Indebtedness to :JEBank of three in Dallas District, letter on liquidation of 7/15 Lalre rorden National Bank, Lake Norden, S. Dak., application for fiduciary powers approved 7/22 Lincoln National Bank, Lincoln, Ill., letter that FRBanks purchase anticipation warrants issued by taxing bodies 12/15 Lincoln National Bank of Newark, N. J., to merge Colonial Trust Co. and operate as branch 9/30 List of four in Cleveland District that have discontinued banking operations, expected to be placed in liquidation Shortly 7/8 Madison National Bank, Tallulah, La., report of continued reserve deficiency 12/6 Mercantile-Commerce National Bank in St. Louis, Mo.: Application for reduction in reserve requirements, to be in new location at least one year 11/7 Holding of stock by Mercantile-Commerce Bank and Trust Co. 8/8 Montgomery County National Bank, Cherryvale, Kansas, continued deficiency in reserves reported 8/5 Mt. Airy National Bank and Trust Co., Philadelphia, Pa., application for reduction in reserve requirements 11/25 Apnlication approved 12/22 National Bank and Trust Co., Connellsville, Pa., application for fiduciary powers approved 8/30 National Capital Bank, Washington, D. C., application to exercise fiduciary powers, action deferred 7/3 Permission to act as registrar of stocks and bonds granted 12/11 National City Bank of New Yolk: Foreign branches: Argentine Republic, Buenos Aires: Plaza Once, application to establish approved 7/10 Retiro District, application to establish approved 8/8 Mayaguez, Porto Rico, to make application for establidhment of up-town office in connection with branch in 7/10 Application for second branch in Mayaguez approved 8/8 National Safety Bank and Trust Co., New York, N. Y., reduction in capital approved 11/28 New First National Bank, Howard, S. Dak., cancellation of MBank stock because of voluntary liquidation 12/18 Nichols National Bank, Kenedy, Texas, reduction in capital stock approved 12/26 327 201 212 257 28 36 299 163 15 274 235 74 60 257 312 94 11 285 21 73 19 73 266 305 333 53 Pages National banks: (Continued) Peoples National Bank, Elizabeth, N. J., cancellation of FRBank 76 8/8 stock upon liquidation acquisition of Philadelphia National Bank, Philadelphia, Pa., 9/25 149 stock by Integrity Trust Co. approved Public National Bank and Trust Co., New York City, proposed 277 12/6 merger with three other barks Red River National Bank and Trust Co., Grand Forks, N. Dak., 9/3 106 reduction in capital stock approved Second National Bank of Boston, Mass., investment in stock of State corporation to be organized to engage in 7/8 10 international and foreign banking Application to purchase $100,000 of stock of corporation 22 7/10 disapproved Plan to organize corporation with $500,000 capital, 7/22 31 application to be approved Executive Officer authorized to approve application of State corporation and also purchase of stock by 7/25 53 national bank Sioux National Bank, Sioux City, Iowa, report of continued 8/30 reserve deficiency 99 Stock in FRBanks, applications of newly organized for, new 8/19 86 procedure for handling in Secretaryts office Standard National Bank, Chicago, Ill., reduction in reserve requirements approved 10/15 196 Texas National Bank, Fort Worth, Texas, payment of fee for services by FRBank of New York to Locke, Locke, Stroud, and Randolph for services to obtain repayment of $50,000 from 9/22 138 West Toledo National Bank, Toledo, Ohio, reduction in reserve requirements annroved 12/11 286 linion Planters National Bank and Trust Co., Memphis, Tenn., application to accept to 100 per cent approved 7/22 39 Washington Park National Bank, Chicago, Ill., application for reduction in capital to be approved when subsequent increases in capital and surplus are paid in 10/7 186 Nonmember banks: Bank of Commerce of Wasco, Ore., consolidation with Bank of Wasco 12/18 305 Builders and Merchants State Bank, Chicago, Ill., consolidation of Capital State Savings Bank with 12/9 283 Commerce Union Bank of Nashville, Tenn., application of Broadway National Bank to rediscount paper acquired from, approved 11/17 248 Continental Trust Co., Baltimore, Md., to merge into Y,aryland Trust Co. 7/25 50 C°emopolitan Bank and Trust Co. of Cincinnati, Ohio, now closed, assets to be purchased by Fifth-Third Union Trust co. 8/8 71 Peoples Banking and Trust Co. of Elizabeth, N. J., proposed merger with Downtown Trust Co. 9/18 135 West End Bank, Richmond, Va., absorbed by American Bank and Trust Co. and to be operated as branch 12/11 292 pages 54 foil Onen market onerations: Conditions during week in government securities and bill markets: Renort for week ending June 27 7/1 Report for week ending July 3 7/8 Report for weak ending July 11 7/15 Report for week ending July 17 7/22 Report for week ending July 24 7/25 Renort for week ending July 31 8/5 Retort for week ending Aug. 7 8/8 Report for week ending Aug. 14 8/19 Report for week ending Aug. 21 8/30 Report for week ending Aug. 28 9/3 Foreign exchange, aoecial operations considered part of open market program 10/22 (See also Sterling) Recommendation of Federal Advisory Council that present flow of credit be unhampered by 11/18 Open Market Policy Conference: Executive Committee, meeting to be held in Washington on Dec. 20 12/18 Meeting with Executive Committee of FRBoard, report of Governor Harrison on failure of Bank of United States and on recent visit abroad 12/20 Meeting to be held at time of Fall Conference of Governors beginning Oct. 6 9/3 Meeting of, FRAgents to be included in 9/24 Meeting with FRBoard and with FRAgents present, plan to buy or sell not more than $100,000,000 of Government securities 9/25 Changes in verbiage of report to be made, action of FRBoard deferred 9/30 Revised report and recommendation presented, and minutes of meeting with FRBoard approved 10/1 Letter to Chairman of Conference that purchases or sales of securities to protect existing level of rates will be agnroved 10/2 Minutes of meeting held June 23, revised cony submitted 7/15 Purchase of additional Government securities, letter from Governor Harrison to Governors of other FR3anks 7/8 Purchase of $25,000,000 of Government securities for System account authorized 8/6 Purchase apnroved by Mr. Cunningham 8/8 Report that Governor Norris was not in favor of purchase 8/19 Purchase of additional amounts of Government securities, authority to Governor to approve if recommended after conferring with absent members of Board by telephone 8/8 Purchase of Government securities up to $50,000,000 if necessary to supplement bill purchases in offsetting seasonal demands for credit, gold exports, etc., approved 9/3 Procedure of Conference opposed by Governer Calkins 9/3 2 17 28 42 48 65 72 83 98 108 211 252 309 310 104 146 152 162 175 176 28 9 68 70 86 77 105 105 55 Pages "PH Power of attorney to Messrs. H. C. Frazer and A. H. Alston as Managers of Havana Agency, MBE0 of Counsel on revised 8/30 form Press statements: Availability of FRcredit to assist in orderly marketing of crops, Messrs. Talley and Black appointed committee 9/23 to prepare Statement presented by Messrs. Black an Talley, to be revised by RBoard and resubmitted to 9/24 Conferences of Governors and FRAgents Revision submitted by Dr. Miller, and to be referred to 9/24 Conferences Form in which adopted, including suggestions of Conferences 9/24 of Governors and FRAgents Wider distribution of statement by RBanks to member banks to 9/25 be discussed with Governors Stevens, Eugene M., on appointment as Class C Director and FRAgent at MBank of Chicago and on retirement of Mr. 10/29 W. A. Heath Pl.°Pirt, Fred M., designated as Second Alternate Vault Clerk in place 10/16 of John T. Simmons Publications: Article on "Some Aspects of Economics'! by Andreas Ueland, no 12/31 objection to publication FRBulletin: (See FRBulletin) United States Daily, Governors of FRBanks requested to furnish review of 1930 banking and business conditions 12/15 and outlook for 1931, opposed by RBoard 97 142 143 145 146 151 225 200 352 297 HRH Rail 774Y Age, permission to William Austin to use data from FRBulletin 12/11 for article in Rates: PRBank of Atlanta: 7/15 Rediscount, reduction to 3?-, per cent approved 7/15 Repurchase agreements, reduction to 3 per cent approved 7/15 Schedule of discount and purchase: 8/8 8/30 9/30 10/13 11/17 12/15 12/27 PRBank of Boston: Rediscount, reduction to 3 per cent approved and letter 7/8 giving reasons for change. 12/31 Anproved at 4- per cent 7/1 Schedule of discount and purchase: 7/22 7/22 8/5 290 25 25 25 70 93 162 189 246 296 339 12 349 2 36 37 58 56 pageø Rates: (Continued) FRBank of Boston: (Continued) Schedule of discount and purchase: (Continued) :MBank of Chicago: Minimum buying, reduction to 1 per cent approved Schedule of discount and purchase: FRBank of Cleveland: Rediscount, reduction to 3 per cent approved Schedule of discount and purchase MBank of Dallas: Rediscount, reduction to 4 per cent approved Schedule of discount and purchase: FRBank of Kansas City: Rediscount, reduction to 31- per cent approved Schedule of discount and purchase: 8/19 8/30 9/12 10/13 10/23 11/7 11/25 12/6 12/18 12/26 79 93 122 189 216 232 254 V3 305 331 7/1 7/1 7/1 7/22 7/25 8/30 9/30 10/29 11/25 12/22 12/26 12/29 1 1 2 37 45 93 165 222 254 325 331 340 12/27 7/10 8/8 9/12 10/13 11/10 12/6 338 16 70 122 189 240 275 9/9 7/8 7/29 10/22 11/10 12/9 12/27 118 15 55 212 240 281 339 79 8/19 7/1 1 7/8 13 26 7/15 7/25 45 8/30 93 9/12 122 10/3 182 10/13 18.9 10/24 220 11/7 232 11/25 254 57 Pages Rates: (Continued) MBank of Kansas City: (Continued) Schedule of discount and nurchase: (Continued) PRBank of Minneanolis: Rediscount, reduction to 3T, per cent approved Schedule of discount and purchase: PRBank of New York: per cent Mininum buying on bankers acceptances of authorized Letter confirming action Rediscount, reduction to two per cent a' roved Letter confirming action Schedule of discount and purchase: PRBank of Philadelphia: Rediscount, reduction to 3?-, ner cent and letter giving reasons for change Schedule of discount and purchase: 273 12/6 325 12/22 12/29 340 9/12 7/8 7/22 9/9 10/13 11/13 12/9 12/26 122 13 36 120 189 244 281 331 12/23 12/27 12/23 1M7 7/1 7/8 7/15 7/22 7/22 7/25 8/5 8/8 8/19 8/30 9/5 9/12 9/22 9/30 10/7 10/13 10/17 10/24 11/7 11/17 11/25 11/28 12/6 12/15 12/22 12/26 12/31 330 338 330 338 1 2 13 25 36 37 45 58 70 79 93 114 122 136 162 185 189 204 220 232 246 254 264 273 296 325 331 351 7/8 7/22 8/8 11/7 12 37 70 232 58 pages 1 Rates: (Contiaued) FRBank of Philadelphia; (Continued) Schedule of discount and purchase: (Continued) FRBank of Richmond: Rediscount, reduction to 3i per cent apnroved Schedule of discount and nurchase MBank of St. Louis: Rediscount, reduction to 3, 1, per cent approved Schedule of discount and purchase: FRBank of San Francisco: Rediscount, reduction to 3- per cent approved Schedule of discount and purchase: 11/25 254 273 12/6 12/18 305 7/22 7/1 7/22 8/19 9/12 10/13 11/13 12/6 12/26 36 2 37 79 122 189 244 273 332 8/8 7/1 7/8 9/4 9/18 10/16 11/7 11/25 12/6 12/18 12/26 70 2 13 111 133 200 232 254 273 305 332 8/8 70 13 14 37 45 93 114 136 7/8 7/8 7/22 7/25 8/30 9/5 9/22 10/3 10/17 10/24 11/7 11/25 12/6 12/22 182 204 220 232 254 273 325 Rediscount: Authority to executive officer to approve reduction to 3 per cent voted by any FRBank and to approve reduction to ner cent below rate now in effect 77 8/8 Authority to Executive Officer of Board to approve reduction not to exceed?I of one per cent in case of any FRBank which has not reduced rate this week 12/27 338 Commodity paper, special rate discussed but not considered necessary under present conditions 9/23 141 59 Pages Rates: (Continued) Rediscount: Recommendation of Federal Advisory Council that no changes 11/18 252 be made at present Real estate: Lycoming Trust Co., Williamsport, Pa., extension of time to dispose of certain parcel as condition of 7/1 5 membership Rediscounts: Acceptances drawn by Grain Stabilization Corporation on number of 9/3 106 different accenting banks, eligibility of Letter to Chairman of Federal Farm Board that such acceptances 9/5 115 are eligible and stating conditions BroadwaY National Bank, Nashville, Tenn., paper acquired from 11/17 248 nonmember bank, application alrroved Note evidencing loan by Federal Intermediate Credit 2ank to livestock loan company, eligibility for 7/15 29 rediscount at FRBank Proposed letter to Governor of MBank of San Francisco 9/3 108 referred to Mr. Cunningham Notes of finance companies, recommendation of Federal Advisory Council that eligibility rules should not be 11/18 252 extended to include Notes of insurance company, proceeds of which are used to carry 96 accounts covering premiums due, are ineligible 8/30 10/29 224 Ruling to be published in ]Bulletin Recommendation that seasonal demands during rest of year be met 11/18 252 by rediscounting on part of member banks Re gulations, 1TRBoard: A, replies of FRBadks with comments on monliments, to become 7/10 20 effective August 1, 1930 7/22 42 Publication in August FRBulletin approved D, amendment that reserves be based on net deposit balances at opening of business instead of close, and to 177 10/2 be printed in pamphlet form Memo of Mr. Smead on computation of reserves on Sundays and 10/16 202 holidays, no action deemed necessary of close Reserves on Sundays to be based on deposits at 234 11/7 business on Saturdays with advice Louis Cleveland and St. Letters to FRBanks of contrary to their circulars transmitted to 11/17 248 member banks on Philadelphia Richmond and FRBanks of Letters to calculation of reserves on Sundays and 11/25 259 holidays and to advise their member banks P, amendment to conform to recent act on voluntary surrender of 10/17 206 trust powers by national banks 11, amendment discussed but to be reprinted in pamphlet form as 10/2 180 it now stands J, amendments recommended by Conference of Counsel, letter to 4 7/1 all FRBanks for comments and adopted amendments received and Replies of FRBanks 7/22 32 regulation ordered printed 60 Pages Regulations, FRBoard: (Continued) J, amendments recommended: (Continued) Payment of bill of Newton D. Baker for services in connection with 3/5 Pamphlets to conform in size with circulars of Treasury Department and RBanks, recommended by Conference of Governors 9/30 Reports of condition: (See Condition reports) Reserve City Bankers Association, letter from Mr. McAdams on calculation of reserves on denosits at beginning of day instead of close 9/4 Report of System Committee on Bank Reserves approving plan, to be referred to Conferences of Governors and FRAgents 9/25 Action of Conferences of Governors and FRAgents on plan, approved by FRBoaxd and ifl.r. McAdams to be notified 9/30 Amendment to Regulation D approved and ordered to be printed 10/2 Reserves: American National Paris, Texas, renort of continued deficiency in 11/7 Anson State Bank, Anson, Texas, continued deficiency reported 8/19 Condition very unsatisfactory, recommendation of Boards Examiner in Charge that no action be taken but FRAgent to watch developments 10/15 Athens National Bank, Athens, Texas, report of continued reserve deficiency, referred to Comptroller of the Currency 11/7 Reply of Comptroller of the Currency with copy of letter to Chief National Bank Examiner 11/25 BPrik of Italy National Trust and Savings Association, survey of requirements delayed because of merger with Bank of America 12/2 (See also Deposits) Calculation on deposits at beginning of day instead of close, letter from Mr. McAdams referred to Mr. Smead for consideration by committee 9/4 Retort of System Committee on Bank Reserves approving plan, referred to Conferences of Governors and F.Agents 9/25 Action of Conferences of Governors and FRAgents on clan, approved by FRBoard and Mr. McAdams to be notified 9/30 Amendment to Regulation D approved and to be printed 10/2 Calculation of reserves on Sundays and holidays, memo of Mr. Smead, no action deemed necessary 10/16 Reserves on Sundays to be based on deposits at close of business on Saturdays, telegrams to FRBanks of Dallas, Cleveland and St. Louis 11/7 Letters to FRBanks of Cleveland and St. Louis with advice contrary to circulars transmitted to their member banks 11/17 Letters to TR3anks of Philadelphia and Richmond on calculation of reserves on Sundays and holidays and to advise member banks 11/25 59 168 13.1 148 164 177 236 83 197 235 261 269 111 148 164 177 202 234 248 259 61 Pages Reserves: (Continued) Calculation of reserves on Sundays: (Continued) Memo of Mr. Smead to refer question to System Committee on Reserves, approved Letter to MBank of St. Louis approved by Committee and copy to be sent to all FRBanks Circular of FRBank of Dallas to member banks on computing deficiencies, paragraph approved Committee on, report of Mr. Smead to Joint Conference of Governors and FRAgents on progress of study Deficiencies reported by Mr. Smead on quarterly report, letter from Comptroller of the Currency on national banks listed and from FRAgent in Richmond on State member banks in his district listed Smmmary statement for third quarter of 1930 showing 20 per cent subject to penalty, action deferred Deposits paid into court pending litigation and then deposited in member bank are not Government deposits Deposits, report of FRIgents Conference on proper classification of Letter from FRIgent at Philadelphia on, to be held in abeyance until report of System Committee on Reserves is made Report of Committee on Bank Reserves that recommendation be deferred until final report of committee Digest of State laws relating to, to be published in FRBulletin First National Bank, Bennington, Okla., report of continued deficiency in First National Bank, Goats, Kansas, report of continued deficiency in First National Bank, Corinth, Miss., report of continued deficiency in, action deferred First National Bank, Del Rio, Texas, report of continued deficiency in First National Bank, Fountain, Colo., report of continued deficiency in First National Bank of Garrison, N. Dak., continued deficiency reported, effort to reorganize or sell bank Letter from FRAgent that another examination will soon be made, no action to be taken at this time _. Reorganized and now carrying ample reserve Flrst National Bank, Gary, S. Dak., report of continued deficiency in Advice that reserves are now adequate First National Bank,Hemphill, Texas, report of continued deficiency in arst National Bank, Jayton, Texas, report of continued deficiency in First National Bank, Kerkhoven, Minn., report of continued deficiency in Report of FRAgent on continued deficiency and recommending that no action be taken for one month 12/6 277 12/9 283 11/25 259 9/26 160 7/10 21 12/15 301 7/1 7 9/30 168 10/23 217 12/22 328 8/8 72 11/7 236 10/3 183 12/11 291 11/7 236 7/8 16 9/18 133 10/13 191 11/28 265 11/28 265 12/22 32? 12/6 275 12/6 275 11/28 264 1422 327 62 page0 Reserves: (Continued) First National Bank, Motley, Minn., report of continued deficiency in reserves are now adequate that 14 / 12 National Bank of Ullin, Ill., report of continued First deficiency in, action deferred 7/15 Bank, Woodstock, Minn., report of National continued First 12/22 deficiency in Guaranty Bank and Trust Co., St. Louis, Mo., reduction approved 7/25 Havelock National Bank of Lincoln, Nebr., application to continue to maintain reserves as before included in reserve city approved 11/25 Madison National Bank, Tallulah, Ala., report of continued deficiency in 12/6 Mercantile-Commerce National Bank in St. Louis, Mo., application for reduction in requirements, to be in new location for year before being considered 11/7 Montgomery County National Bank, Cherryvale, Kansas, continued 8/5 deficiency reported Mt. Airy National Bank and Trust Co., Philadelphia, ?a., application for reduction in 11/25 Application approved 12/22 Regulation D: (See Regulations) Self-insurance, now carried or to be established by FRBanks, letter on proper limits of 9/25 Amount of reserves now held by FRBanks and limits suggested by Mr. Smead. 12/22 Reconsideration of limit fixed for MBank of New York and increased to $2,000,000 12/31 Sioux National Bank, Sioux City, Iowa, renort of continued deficiency in 8/30 Standard National Bank, Chicago, Ill., reduction approved 11/15 Surveys of member banks in Los Angeles and San Francisco soon to be completed 12/2 West Toledo National Bank, Toledo, Ohio, reduction approved 12/11 Resolutions, FRBoard: Assessment on FRBanks for expenses of PRBoard 12/29 Cunningham, E. H., death of, Mr. Hamlin to prepare appropriate resolutions 12/2 Resolution adopted and copy to be sent Mrs. Cunningham 12/11 Examinations of State member banks, revised to comply with recent law 7/25 Platt, Edmund, on resignation as member and Vice Governor of FRBoard, engrossed copy to be transmitted 9/17 Regulation F amended to provide for voluntary surrender of trust powers by national tanks 10/17 Regulation J, amendments adapted 7/22 Retirement of members from PRBoard, amendment to bylaws to prohibit adoption discussed 9/18 Alternate amendments to Sec. 4 of Article XV submitted by Ur. Miller 9/25 Amendment adopted 10/13 g Advice 28 327 47 257 274 235 60 257 312 149 312 349 99 196 269 286 348 268 285 53. 12/ 206 32 133 150 188 63 Pages Resolutions, FRBoard: (Continued) Stevens, Eugene, on appointment as Class 0 Director and FRAgent at FRBank of Chicago Appointment resolution adopted Young, Roy A., on resignation as Governor,M2oard, engrossed copy to be transmitted Retirement fund payments by four employees of FRBoard, amounts to be deducted from salaries and deposited in Treasury Review of Month, present procedure in handling release discussed by Mr. Miller Revised Statutes, violations of: (See Violations of statutes) Revolving currency fund at Tampa, extension for six months approved Roosevelt and O'Connor: (See Foreign banking corporations, Federal International Banking Corporation) FRBoard: Clayton Act permits, effect of consolidations on, to be published in FRBulletin Deposits of member bank with nonmember bank, whether those of nonmember bank with member bank can be deducted in computing, to be published in FRBulletin Notes of insurance companies the proceeds of which are used to carry amounts covering premiums due are ineligible for rediscount at FRBanks To be published in FR3ulletin 10/13 194 10/29 224 9/5 114 12/2 270 10/2 180 8/19 7/1 82 5 10/29 224 8/30 10/29 96 224 IISII Secretary of Treasury: sh Mellon, A. W., letter of regret on resignation of Governor Young Garman and Sterling: (See National banks, National City Bank of New York) fle, John T., designation as Second Alternate Vault Clerk cancelled Staff of FRBoard: Charwomen, compensation increased according to provisions of Brookhart Bill Comptroller of the Currency Office: Braxton, Henry, Messenger, transferred to payroll of Comptroller of the Currency Griffiths, Mts. Dolly S., salary increased as stenographer Counsel's Office: Costinett,, Mts. Grace L., appointment and salary as stenographer Rhodes, Mrs. Vivian B., resignation as stenographer accepted Vest, George B., reelected Assistant Counsel and salary approved Wingfield, B. M., reelected Assistant Counsel and salary approved Wyatt, Walter, reelected General Counsel and salary approved Memoranda of: (See Counsel, General) 8/30 101 10/16 200 7/29 55 8/5 7/10 59 18 12/29 340 12/29 340 12/29 345 12/29 12/29 345 345 64 Pages Staff of FRBoard: (Continued) Division of Bank Operations: Snead, E. L., reelected Chief and salary annroved 12/29 (See also Committees, Reserves) Division of Issue nna Redemption: Brickerd, Mrs. Ethel M., resignation as Clerk-Counter 10/30 Brinker, Mrs. Henrietta T., salary increased as Money Counter 8/3o Moore, Mrs. May LaPorte, resignation as temporary clerk 8/19 Oliphant, Mrs. Janet, salary increased as Money Counter 8/30 White, Mrs. Mary, salary increased as Money Counter 8/30 Williams, Mrs. Maude, salary increased as Money Counter 8/30 Division of Research and Statistics: Copeland, Morris A., temporary appointment for one month 8/19 Cummings, John, resignation of 10/7 Goldenweiser, E. A.: Deposits, report made to Governor on increase in time compared with demand 10/13 Reelected Director and salary approved 12/29 Hunter, Mrs. Florence M., appointed to clerical position from July 31 to Aug. 16 8/5 Idler, Mrs. Grace M., appointed statistical clerk for two months 7/25 Temporary appointment extended for two months 9/30 Lewis, Katharine, resignation as clerk accepted 8/19 Martin, Ruth L., transfer from office of Secretary as stenographer 9/22 O'Hare, Mrs. Florence C., temmorary a-)pointment as stenographer not renewed 9/22 Examiners: Drianen, 7. J., reelected Examiner in Charge and salary approved 12/29 Ftrbershaw, James P. resignation of 11/28 Howard, Thomas P., appointed Assistant 11/28 Fiscal Agent: LAlay, W. M., reelected for 1931 and salary approved 12/29 Gold Settlement Fund: Authority to employ additional man on night force 7/1 Holidays: Dec. 24, Skeleton organization to be maintained and employee who can be spared to be excused 12/22 Messengers: Washington, Lafayette, leave of absence on account of illness granted for one month 9/18 Leave with -nay extended for thirty days from Oct. 22 lo/29 Office of Mr. Cunningham: Beller, Leona, transfered to Secretary's Office 12/2 Resignation accepted 12/26 Office of Governor: Fahy, Francis L., salary as Secretary to Governor Meyer approved 9/17 Office of Mt. Hamlin: Nagle, Mrs. Margaret L., salary as Secretary increased 8/8 345 227 95 80 95 95 95 79 185 188 345 58 46 163 79 136 136 345 264 264 345 4 324 134 225 268 333 126 71 65 Pages Staff of FRBoard: (Confirmed) Office of Mr. Platt: Durland, Joseph L., secretary, temporarily transfered to 9/12 124 rolls of Secretary's office. 189 10/13 Resignation accepted Retirement fund, amounts to be deducted from salaries of four employees and deposited in Treasury of 270 12/2 United States Secretarys Office: Baker, E. W., increase in salary as clerk in Member Bank 7/8 14 ., Section 12/2 Cunningham 268 Mr. after death of Beller, Leona, transferred to, 12/26 333 Resignation accepted Eddy, Walter L., leave of absence with pay extended to 12/29 345 May 31, 1931 salary McClelland, E. M., reelected Assistant Secretary and 12/29 345 approved Milne, Mrs. Katharine L., transfer from Office of Governor 9/3 109 approved Noell, J. C.: Appointed chairman of Boards organization for forthcoming 238 11/7 campaign of District Community. Chest 12/29 345 Reelected Assistant Secretary And salary approved 9/3 Stone, A. M., transfer from Office of Governor approved 109 stenographer mile Thompson, Robert K., appointment as 8/30 95 permanent Telephone Operator: Burke, Catherine M., salary increased under provisions of Brookhart Bill 7/25 46 State Department: (See Department of State) State member banks: Ambridge Savings and Trust Co., Ambridge, Pa., credit investigation to be made by FRBank 7/15 27 Am rican Beak and Trust Co., Richmond, Va., absorption of West e 12/11 292 End Bank and to be operated as branch American Trust Co., New York, plans for merger with Bank of 10/17 205 Manhattan Trust Co. Letter to FRAgent on whether conditions of membership of Bank of Manhattan Trust Co. will be violated 10/23 216 233 11/7 Merger approved American Trust Co., San Francisco, Calif., letter to State authorities on facilities for examination 9/5 117 of foreign branches Examination of London branch by National bank examiners now 10/23 217 abroad to be arranged deficiencies Anson State Bank, Anson, Texas, continued reserve 8/19 83 reported Condition very unsatisfactory but recommendation of Board's Examiner in Charge that no action be taken 10/15 197 but YRAgent to watch developments Bank of Commerce, Oregon City, Ore., reduction in capital 12/18 308 stock approved 66 Pages State member banks: (Continued) Bank of Commerce and Trust Co. of Cincinnati, Ohio, assets to be purchased and liabilities assumed by Provident Savings Bank and Trust Co. 10/29 Bank of Darlington, Inc., Darlington, S. C., extension of time for termination of membership 11/7 Bank of Manhattan Trust Co., New York, plans for merger with American Trust Co. 10/17 Letter to FRAgent on Whether conditions of membership will be violated 10/23 Merger annroved 11/7 Bank of Portal, Portal, Ga., six months notice waived and immediate withdrawal approved 12/15 Bank of United States, New York: Law firm employed by FRBank of New York in connection with closing of 12/18 Report of Governor Harrison on conditions leading to failure of bank 12/20 Proposed merger with three other banks 12/6 Bank of Versailles, Mo., deposit in nonmember bank in excess of limitation of law 9/18 Bank of Wasco, Wasco, Ore., consolidation with Bank of Commerce of Wasco 12/18 Bankers Trust Co., New York, letter to State authorities on facilities for examination of foreign branches 9/5 Bristol American Bank and Trust Co., Bristol, Tenn., waiver of six months notice of intention to withdraw from FRSystem not approved 10/30 Broadway Bank and Trust Co., Richmond, Va.: Indirectly owns its own stock through company which it controls, requested to correct situation 7/22 Merger with Main Street Security Co. being considered or elimination of stock from assets 7/29 Permission to retain three blocks of bank stock purchased. 7/22 Cambridge Trust Co., Chester, Pa., purchase of Chester National Bank and new title of Chester-Cambridge Bank and Trust Co. 10/16 Central Trust Co., Cincinnati, Ohio, to purchase assets and assume liabilities of Brotherhood of Railway Clerks National Bank 7/15 Colonial Trust Co., Newark, N. J., to merge into Lincoln National Bank and be operated as branch 9/30 Columbus Etchange Bank, Providence, R. I., application for fiduciary powers approved 8/5 Commercial Bank, Spanish Fork, Utah, to consolidate with First National Bank 7/15 Commercial Security Bank, Ogden, Utah, request of Federal Intermediate Credit Bank of Berkeley to review last examination report of 8/30 Condition report: Call as of June 30 7/8 Call as of Sept. 24 9/30 Credit investigations of three in Cleveland district to be made by FRBank 7/22 224 234 205 216 233 296 306 310 277 134 305 117 228 40 56 40 201 27 163 60 26 99 14 162 38 67 Pages State member banles: (Continued) Downtown Trust Co., Elizabeth, N. J., proposed merger with 9/18 135 Peoples Banking and Trust Co. of Elizabeth and of oasts Examinations, revised resolution on assessment 7/25 51 circular letter to FR3anks (See also Examinations) Expulsion from FRSystem when in generally unsatisfactory condition, letter to FRAgent at Dallas on 12/29 343 procedure for Farmers Commercial and Savings Bank of Oakley, Idaho, six months notice of intention waived and 8/5 62 immediate withdrawal approved Fifth-Third Union Trust Co., Cincinnati, Ohio, to purchase assets of Cosmopolitan Bank and Trust Co., a closed EI/8 71 nonmember bank First Citizens Trust Co., Columbus, Ohio, permission to purchase Jeffry Building and Loan Co. of Columbus not 186 10/7 necessary First State —nk of Abernathy, Texas, hearing on forfeiture of 11/17 249 membership To appear before FRAgent at Dallas on Dec. 10 268 12/2 Report of hearing before FRAgent and desire of bank to 12/18 304 continue membership First State Btinir, Spearman, Texas, notice of intention to withdraw from FRSystem, six months notice 10/1 172 not to be waived First State Bank of Stratford, S. Dak., waiver of six months notice of intention and immediate withdrawal 233 approved 11/7 Grant Trust and Savings Bank, Marion, Ind., immediate withdrawal 11/25 260 approved Guaranty Bank and Trust Co., St. Louis, Mo., reduction in 47 7/25 reserve requirements approved Guaranty Trust Co., New York, letter to State authorities on 117 facilities for examination of foreign branches 9/5 Guardian Trust Co. of Cleveland, Ohio, to purchase mortgages and assume savings and Christmas Club liabilities 9/17 128 of Vcela Building and Loan Association Integrity Trust Co., Philadelphia, Pa., acquisition of stock of 9/25 149 Philadelphia National Bank approved International Trust Co., New York, N. Y.: Application to accept for creating dollar exchange, approved 9/12 123 277 12/6 Proposed mercer with three other banks Interstate Trust and Banking Co., New Orleans, La., taking over assets and assuming liabilities of New Orleans 12/11 293. Bank and Trust Co. Lansdale Title and Trust Co., Lansdale, Pa., possible violation 99 of Revised Statutes by Assistant Treasurer of 8/30 Li'lcoln Bank and Trust Co., Louisville, Ky., establishment of office in La Grange would be violation of 8/19 85 FRAct Louisville Trust Co., Louisville, Ky., possible violation of criminal statutes in making loans to bank examiners 10/3 183 • • 68 Page State member banks: (Continued) Louisville Trust Co.; (Continued) Loans to private examiners not to be reported to Attorney General, PRBank to make independent examination 10/22 Lycoming Trust Co., Williamsport, Pa., extension of time to dispose of certain real estate 7/1 Manufacturers Trust Co., New York City, proposed merger with three other banks 12/6 Maryland Trust Co., Baltimore, Md., merger of Drovers and Mechanics National Bank and Continental Trust Co. into 7/25 Membership in FRSystem: (See Membership) Mercantile-Commerce BanIr and Trust Co., St. Louis, Mo.: Application to accept to 100 per cent approved 7/22 Holding of stock of Mercantile-Commerce National Bank 8/8 Natural Bridge Bank and Trust Co., St. Louis, Mo., application for cancellation of 'MBank stock 7/15 Waiver of six months notice and immediate withdrawal approved 8/5 Natural Bridge Truat Co., St. Louis, Mo., no objection to Tower Grove Bank and Trust Co. holding 125 shares of stock of 12/31 New Orleans Bank and Trust Co., New Orleans, La., assets taken over and liabilities assumed by Interstate Trust and Banl-ing Co. 12/11 Orleans County Trust Co., Albion, N. Y., notice of intention to withdraw, application to waive six months notice disapproved 9/17 Park Row Trust Co., New York City, to merge into Plaza Trust Co. 9/17 Peoples Bank, Carrollton, Ga., application to take over assets and assume liabilities of First National Bank approved 12/22 Peoples Bank of Evergreen, Ala., to consolidate with First National Bank of Evergreen 7/1 Plaza Trust Co., New York City, to merge Broadway National Bank and Trust Co. and Park Row Trust Co. 9/17 Provident Savings Bank and Trust Co., Cincinnati, Ohio, to purchase assets and assume liabilities of Bank of Commerce and Trust Co. 10/29 Purchase of bank stocks by, replies of Governors and FRAgents on revision of condition of membership 9/3 Action of Conferences of Governors and FRAgents on revision of condition, no change pending report of Committee on Branch, Chain, and Group Banking 9/30 Amendment discussed but Regulation H to be reprinted in pamphlet form as it now stands 10/2 Recommendations of RAgent on continuance of membership, letter to FRAgent at Dallas on what should be sdhmitted to officers of MBank 12/15 State Bank, Bowling Green, Ohio, credit investigation to be made by FRBank 7/1 State Bank of Anoka, Minn., capital stock reduced below required minimum, FRAgent to make recomnendation 7/25 Six months notice waived and immediate withdrawal authorized 8/19 1 214 5 277 50 40 74 29 62 351 291 129 128 326 128 224 108 157 180 298 3 50 84 69 Pages State member banks: (Continued) State Bank of Seneca, Ill., voluntary withdrawal, interest at rate of one-half of one per cent per month 12/26 335 from date of last dividend Swift County Bank, Benson, Minn., six months notice waived and 7/22 41 immediate withdrawal approved Times Square Trust Co., New York City, reduction in capital 75 8/8 approved Tower Grove Dank and Trust Co., St. Louis, Mo., no objection to holding shares of stock of Natural Bridge 12/31 351 Trust Co. Union Trust Co., Greensburg, Pa., credit investigation to be 19 7/10 made by FRBank United States Trust Co., Newark, N. J., reduction in capital in 8/30 98 violation of condition of membership Letter to Assistant FRAgent at New York approving reduction but advising that member banks should acquaint themselves with regulations, conditions of 9/3 105 membership, etc. W. G. Jenkins and Company, Bankers, Mackay, Idaho, immediate 282 12/9 withdrawal from membership approved Sterling, purchase by FRBank of New York up to L5,000,000, 10/15 198 participation to be offered other FRBanks Governor Harrison present at Board meeting to discuss mechanics 10/20 209 of operation of transaction Reply to letters from Governor Harrison on purchase of foreign 10/22 211 bills Reply to letter from Governor Harrison on additional purchase 11/7 236 of ;5,000,000 Letter to FRBanks on program of FRBank of New York on purchase 12/6 of 277 Stoek, capital: Atlantic Corporation held by Atlantic National Bank of Boston, must be given up unless it functions as 49 foreign banking corporation 7/25 8/5 Change in situation being worked on by national bank 61 Advised that turning stock over to trustees is not 9/17 130 effectually disposing of holdings Bank of Commerce, Oregon City, Ore., reduction approved 12/18 308 1/1.°adwaiY Bank and Trust CO., Richmond, Va.: Indirectly owns its own stock through company which it 7/22 40 controls, told to correct situation To merge Main Street Security Co. or eliminate stock 7/29 56 from assets 7/22 40 Permission to retain three blocks of bank stock purchased eitY National Bank, Morristown, Tenn., reduction approved 9/9 118 lia:Mers National Bank, Forney, Texas, reduction approved 12/31 351 Plrst National Bank of Butte, Nebr., reduction approved 8/19 83 lirst National Bank, Comanche, Okla., reduction approved 11/17 248 Plrst National Bank in Harper, Kansas, reduction approved 274 12/6 rst National Bank, Kalispell, Mont., reduction approved 10/30 227 41rst National Bank, Parlier, Calif., reduction approved 12/18 308 70 Pages Stock, capital: (Continued) Foreign banking corporation to be organized by Second National Bank of Boston: (See Foreign banking c6rporations) Integrity Trust Co., Philadelphia, Pa., acquisition of eighty shares of Philadelphia National Bank approved 9/25 Mercantile-Commerce National Bank, St. Louis, Mo., holding by Mercantile-Commerce Bank and Trust Co., action deferred 8/8 National Safety Bank and Trust Co., New York, N. Y., reduction approved 11/28 Nichols National Bank, Kenedy, Texas, reduction approved 12/26 Purchase by State member banks, replies of Governors n y14 F.Agents to circular on revision of condition of membership 9/3 Action of Conferences of Governors and FRAgents on revision of condition, no change pending report of Committee on Branch, Chain and Group Banking 9/30 Amendment discussed but Regulation H to be reprinted in pamphlet form as it now stands 10/2 Red River National Bank and Trust Co., Grand Forks, N. Dak., application for reduction approved 9/3 Reductions in, Comptroller of the Currency and. FRAgent to be advised that detailed information should be furnished FRBoard 10/30 Letter to Comptroller of the Currency approved. 11/7 State Bank of Anoka, Minn., reduced below required minimum, FRAgent to make recommendation on withdrawal from membership 7/25 Six months notice waived and immediate withdrawal authorized 8/19 Times Square Trust Co., New York City, reduction approved 8/8 Tower Grove Bank and Trust Co., St. Louis, Mo., no objection to holding 125 shares of stock of Natural Bridge Trust Co. 12/31 United States Trust Co., Newark, N. J., reduction in capital in violation of condition of membership 8/30 Letter to Assistant FRAgent at New York approving reduction calling attention to compliance by member banks with regulations and conditions of membership 9/3 Washington Park National Bank, Chicago, Ill., application for reduction to be approved when subsequent increases in capital and surplus are paid in 10/7 Stock, FRBank: Applications of newly organized national banks, new procedure for handling by Secretary's office 8/19 FRBank of Chicago: Capital State Savings Bank, Chicago, Ill., procedure for cancellation of 12/9 FRBank of Dallas: Dallas Bank and Trust Co., Dallas, Texas, application approved 12/29 FRBank of Kansas City: First State Bank of Newcastle, Wyo., application approved 10/16 149 74 268 333 108 167 180 108 227 237 50 84 75 351 98 105 186 86 283 344 202 71 Pages Stock, FRBanks: (Continued) FRBank of Minneapolis: First State Bank of Stratford, S. Dak., cancellation of FRBadk stock approved New First National Bank, Howard, S. Dak., cancellation because of voluntary liquidation State Bank of Anoka, Minn., application for cancellation Six months notice waived and immediate withdrawal authorized Swift County Bank, Benson, Minn., immediate withdrawal permitted and cancellation approved FRBank of New York: Peoples Banking and Trust Co., Elizabeth, N. J., application approved Peoples National Bank, Elizabeth, N. J., cancellation to be approved upon liquidation PRBank of St. Louis: First National Bank, Mt. Sterling, Ill., appointment of receiver recoumended to permit cancellation of Natural Bridge Bank and Trust Co., St. Louis, Mo., application for cancellation of, withdrawal suggested waived and immediate cancellation notice months Six approved FRBank of San Francisco: Farmers Commercial and Savings Bank of Oakley, Idaho, cancellation authorized Stoekh meeting at FRBank of Boston, one representative of member lonnk to be reimbursed for expenses in attending Str°cIc t Cunningham, Sloan, and Herrick, payment of special attorneys fees by MBank of Chicago approved mItalVa months granted ,.axest revolving currency fund, extension for six Anticipation warrants issued by taxing bodies, letter from Lincoln National Bank of Lincoln, Ill., on purchase by FRBanks PRBank of Minneapolis, reduction in valuation of bank property for tax purposes Franchise, to be paid by FRBanks of St. Louis and Dallas Motor fuels, State, inquiry of Pittsburgh Branch on exemption from Time schedules, interdistrict: TRBanks of Boston and Dallas and branches to other FRBanks and branches, Changes approved 11110/ta,. Senator, resolution introduced in Senate on steps taken or to be taken by FRBoard to meet depression and situation unemployment Tref, -r7 ' 4813 bills, plan for wider distribution among member banks and the -public submitted by MBank of Boston 11/7 233 12/16 305 7/25 50 8/19 84 7/22 41 8/8 76 8/8 77 12/11 293 7/15 29 8/5 62 8/5 62 10/13 190 9/5 115 8/19 82 12/15 299 12/15 299 12/22 314 8/19 85 8/19 81 12/11 294 9/30 167 72 Page0 Treasury bills: (Continued) Report of Governor that FEBoard not take action on recommendation of Governors Conference, referred to Mr. Mills Trust powers: (See Fiduciary powers) 10/1 172 ' lull Unemployment, Senate resolution on what steps FRBoard is taking or proposes to take to meet existing situation 12/11 Unemployment fund being raised by State of Illinois, contribution by FRBank of Chicago disapproved 12/18 United States Daily, request to Governors of FRBanks to furnish review of 1930 and outlook for 1931, opposed by FRBoard 12/15 294 303 297 nit Vault clerks: Propst, Fred Mi, designated Second Alternate in place of John T. Simmons 10/16 Simmons, John T., designation cancelled 10/16 Violations of Statutes: Greely, Thomas L., Shortage at MBank of Philadelphia, letter to Attorney General of United States 10/22 Lansdale Title and Trust Co., Lansdale, Pa., possible violation by Assistant Treasurer of 8/30 Lincoln, Harriet, appropriating small amounts of money at FRBank of Boston, reported to Assistant District Attorney 12/31 Louisville Trust Co., Louisville, Ky., report of examination Showing loans made to firm making the examination 10/2 Not to be reported to Attorney General, MBank to make independent examination 10/22 Mahan, Charles A., Jr., Shortage at FRBank of Philadelphia, letter to Attorney General of United States on 10/22 Theft of payroll at FRBank of Boston, report by FRAgent and matter ordered filed 7/10 Letter to Attorney General with report of Agent 7/25 200 200 215 99 352 185 214 215 20 49 170 Warehouse receipts: (See Loans) Warrants issued by taxing bodies as County Board of Supervisors, letter from Lincoln National Bank on purchase by FRBanks Welfare and educational work of FRBanks, expenditures during: June July August Septenter October November 12/15 299 8/5 8/19 9/18 11/13 11/25 12/18 60 SO 133 244 260 305 73 Pages Withdrawals from FRSystem: Announcement in FRBulletin of banIrs filing notice of intention to withdraw, referred to Counsel and to 9/17 129 Conferences of FRAgents and Governors Conferences of Governors and FRA6ents opposed to publication, 9/30 165 no change in present plan Bank of Darlington, Inc., Darlington, S. C., extension of time 234 11/7 for termination of membership Bank of Portal, Ga., six months notice waived and immediate 12/15 296 withdrawal approved Bristol American Bank and Trust Co., Bristol, Conn., waiver of 10/30 228 six months notice not approved agulsion from FRSystem when in generally unsatisfactory condition, letter to MAgent at Dallas on 12/29 343 rrocedure for Farmers Commercial and Savings Boni,- of Oakley, Idaho, six months notice of intention waived and immediate 8/5 62 cancellation of FRBank stock approved First State Bank of Abernathy, Texas, hearing on forfeiture of 11/17 249 membership To appear before FRAgent at Dallas on Dec. 10 268 12/2 Report of hearing before FRAgent and desire of bank to continue membership, directors of FRBank to 13/18 304 make recommendation First State Bank, Spearman, Texas, notice of intention filed, 172 10/1 six months notice not to be waived First State Bank, Stratford, S. Dak., waiver of six months notice of intention and immediate withdrawal 233 11/7 authorized Grant Trust and Savings Co., Marion, Ind., six months notice 11/25 260 waived and immediate withdrawal approved Interest at rate of one-half of one per cent per month from date of last dividend to be paid member banks 12/26 335 voluntarily withdrawing arplication Natural Bridge Bank and Trust Co., St. Louis, Mo., 7/15 29 for cancellation of MBank stock 8/5 62 approved withdrawal immediate Waiver of six months notice and Orleans County Trust Co., Albion, N. Y., notice of intention filed, application to waive six months notice 9/17 129 disapproved State Bank of Anoka, Minn., capital stock reduced below required 7/25 50 minimum, FRAgent to make recommendation 84 Six months notice waived and immediate withdrawal authorized 8/19 State Bank of Seneca, Ill., voluntary, interest at rate of onehalf of one per cent per month from date of 12/26 335 last dividend Swift County Bank, Benson, Minn., six months notice waived and 7/22 41 immediate withdrawal approved Idaho, immediate Mackay, Bankers, Ws G. Jenkins and Company, 12/9 382 termination of membership approved 710100 _a Pair, Chicago: (See Chicago World Fair)
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