The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
KEY TO INDEX Branch Banks, Domestic, FRBanks and Foreign, see Branch Banks Clayton Act Applications, see Interlocking Directorates Directors of FRBanks 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 FRBanks and Member Banks, see Stock INDEX 1 JULY - DECEMBER, 1932 ItAtt Pages Absorptions of banks: (See Consolidations) Acceptance practice, American, procedure for initiating study outlined, and forms of letters and questionnaires to certain member banks, to be consid4/12 411 ered at forthcoming conferences Acceptances: Bankers, warehouse receipts to be issued by Lawrence Warehouse Company for goods stored, not eligible 305 10/6 for rediscount under conditions stated Trade: Increased use for expanding credit discussed with Gover51 7/15 nors of FRBanks 8/4 121 York Minimum buying rate for purchase by FRBank of New Currently effective Minimum buying rate fixed at two per cent, advice of 8/5 122 Rates) (See on: Rediscount rate at FRBank of Philadelphia Acceptances to 100 per cent of capital and surplus: President and Directors of the Manhattan co., New York City, 11/21 445 application approved Adams, J. IL, Division Manager of American Telephone and Telegraph 31 7/12 Co., forms of renewal contracts submitted by Reply to letter from Ur. Adams with further reference to con8/19 175 tract approved Adel Clay Products Co., Des Uoines, Iowa, reply to request for information on loans to banks made by United 8/3 113 State Treasury Adjusted service certificates: Loans secured by, ruling of Comptroller General on reduction 477 12/2 in maximum rate of interest charged on Regulation G on rediscount of notes secured by, revised to 8/10 142 comply with recent amendment to law 8/31 193 Publication in FRBulletin authorized Advertising plan for FRBanks suggested by Ur. Shelley E. Tracy, 9,/21 262 not favored by FRBoard Advisory Council: (See Federal Advisory Council) Agencies: Havana: Exchange of currency for Cuban gold coin with Cuban Treas10/26 ury Department Contract between Republic of Cuba and FRBank of Atlanta for credit in New York City in exchange for like amount of Cuban gold coin which is to be 12,(15 repurchased by Republic Staff: Frazer, H. C., search of residence by police during absence in United States, letter to Department 8,(12 of State on Agricultural Credit Corporations: (See Regional Agricultural Credit Corporations) Akron, Ohio, banking situation reviewed by Ur. DeCamp and to be 10/11 discussed with FRBoard 362 540 160 327 2 Pages Amendments to FRAct: (See Legislation) American Acceptance Council, conducting campaign for increased use of trade acceptances in expanding credit American Telephone and Telegraph Co., forms of renewal contracts for telephone and telegraph service, changes suggested Reply to letter from Mr. Adams with further reference to contract approved Annual reports of FRBoard for 1928 and 1929 to be sent to Mr. French Strother as indicating credit policy of FRBoard Annual report of Secretary of Troasury: (Seo Secretary of Treasury) Assistant FRAgents: (See FRAgents) Associated Transamerica stockholders, request of President of United States for copies of messages sent to Audit of reserve stock of incomplete FRnotes held by Bureau of Engraving and Printing, Kenneth R. Iverson designated to represent FRBoard Automobile finance companies, suggestion of Congressman Briggs that law be amended to make paper eligible for rediscount 7/15 51 7/12 31 8/19 175 9/2 205 10/25 339 7/1 1g/30 3 594 tiBil Babcock, E. C.: (See Civil Service Commission) Baker, Newton D., fee for services in litigation growing out of failure of First National Bank of New Bern, N. C., and in other matters, approved Bill to be paid by FRBank of Richmond and to be reimbursed by other FRBanks for pro rata shares Letter to FRBanks to remit pro rata share of bill to FRBank of Richmond Bank for International Settlements: Deposit of FRBank of New York with, advice of further withdrawal from German Reichsbank, credit to: (See Foreign banks) Boeck, V. L., inquiry on discounts for individuals, partnerships, and corporations, letter to Secretary to the President on reply to Boise, Idaho, currency depot established by FRBank of San Francisco for temporary period Bonds: Bankers blanket, of FRBank of Atlanta, reply to Mr. Johns on custody of Circulation: Advice of no applications from national banks for sale of, during second quarter Applioations filed by receivers of national banks to Comptroller of Currency to have sold under Sec. 18 of FRAct Refunding of two per cent Consol Bonds at three per cent rate, letter from Mr. L. W. Mitchell on 102 409 108 430 12/23 576 7/7 9/15 9 241 10/6 311 11/2 385 7/7 9 8/10 144 8/19 175 3 Pages Bonds: (Continued) Surety: Form for use by FRAgents and Assistants, revision of Foulk, Oliver E., as Deputy Fiscal Agent of FRBoard Mitchell, John R., as FRAgent at Minneapolis Roelse, Harold V., as Acting Assistant FRAgent at New York Borrowing member banks for 80 per cent or more of time during twelve month period, revision of Form St. 6170 reporting Branch banking situation in Virginia, statement to be published in FRBulletin Branch banks, domestic: Pennsylvania Company for Insurances on Lives and Granting Annuities, Philadelphia, Pa.: Ardmore, Pa., organization of bank in: (See State member banks) Branch banks, FRSystem: Baltimore: Directors: (See Directors) Staff: Schutz, Henry, reappointed Acting Assistant FRAgent Birmingham: Directors: (See Directors) Staff: Frye, John h., appointment and salary as Managing Director and to sever outside connections Advice that all outside business connections have been severed Knowlton, T. H., Assistant Cashier, reimbursement by Reconstruction Finance Corporation for services Walker, A. E., Managing Director, advice of death of Buffalo: Directors: (See Directors) Charlotte: Directors: (See Directors) Personnel classification plan, change creating "Reconstruction Finance Corporation-Custodian Department" with nine positions Staff: Honeycutt, R. L., reappointed Acting Assistant FRAgent Cincinnati: Directors: (See Directors) Staff: Johnson, R. G., temporary reappointment as Acting Assistant FRAgent Denver: Directors: (See Directors) Personnel classification plan, changes in salary ranges approved Changes creating new position, changing titles and salary ranges approved Detroit: Directors: (See Directors) 10/27 8/3 10/11 8/19 373 100 320 165 9/15 239 10/6 309 12/20 556 7/26 75 8/12 155 108 426 7/12 24 12/19 543 12/20 556 12/30 596 8/3 102 8/9 127 4 Branch banks, FRSystem: (Continued) Detroit: (Continued) Share-the-work plan involving reductions in salaries and additional temporary employees approved Shortages in accounts of two employees in Transit Department Staff: Diercks, W. R., appointed Assistant FRAgent to succeed W. C. Recknagel, referred to Mr. Paulger for recommendation Recknagel, W. C., resignation as Assistant FRAgent Charge of participation in shortages in accounts of two employees being investigated El Paso: Directors: (See Directors) Personnel classification plan, change creating new position in Reconstruction Finance Corporation Department approved Helena: Bylaws, draft approved and FRBoard to be advised when approved by directors of FRBank Directors: (See Directors) Interdistrict time schedule, change in time to Spokane Personnel classification plan, change to provide for branch auditor approved Staff: Auditor,change in personnel classification plan to provide for, approved Cooper, A. L., salary as auditor, letter requesting certain information before being finally considered by FRBoard Hazzard, L. S., reappointed Alternate Acting Assistant FRAgent Heinecke, Fred, reappointed Alternate Acting Assistant FRAgent Hibbard, A. T., reappointed Acting Assistant FRAgent Powell, Leland, designated as Acting Assistant Cashier Redpath, Charles, promoted to position of Paying Teller and salary increased, further investigation requested Towle, R. E., leave of absence for three months to organize ;Zegional Agricultural Credit Corporation at Spokane, Wash. Leave extended for not over three months Houston: Directors: (See Directors) Jacksonville: Directors: (See Directors) Little Rock: Directors: (See Directors) Los Angeles: Directors: (See Directors) Louisville: Directors: (See Directors) Personnel classification plan, change creating new position in Custody DeparLmont Pages 12/27 583 12/5 487 12/27 12/5 583 487 12/5 487 8/19 167 7/7 16 7/29 93 8/12 155 8/12 155 7/12 24 100 556 12/20 556 12/20 556 10/6 279 10/6 279 10/6 12/23 278 562 9/15 228 5 Pages Branch banks, FRSystem: (Continued) Directors: (See Directors) Personnel classification plan, change to provide for new position of "Custodian" in Collateral and Custody and Fiscal Agency Department Nashville: Directors: (See Directors) iiew Orleans: Directors: (See Directors) Oklahoma City: Directors: (See Directors) Omaha: Directors: (See Directors) Personnel classification plan: Fiscal Agent-Reconstruction Finance Corporation Department, chance creating new position in Loans, Rediscounts and Acceptances Department, change creating position of "clerk" in Pittsburgh: Directors: (See Directors) Staff: W. L., temporary reappointment as Acting Assistant FRAgent Portland: Directors: (See Directors) Personnel classification plan, revised plan submitted as Form A showing certain changes Salt Lake City: Directors: (See Directors) San Antonio: Bylaws, amendment to sec. 8 of article IV approved Directors: (See Directors) Personnel classification plan, creation of new - position in Reconstruction Finance Corporation Department Seattle: Bylaws, provision that one director reside outside of branch city waived for term commencing Jan. 1, 1933 Amendment to bylaws proposed Directors: (See Directors) Spokane: Directors: (See Directors) Interdistrict time schedule, change in time from lielena to Branch banks, foreign: Chase Bank: Mexico City office, letter to Mr. W. J. Evans with authority to cunduct examination of Expenses of ;;2-. Evans to be paid by FRBank and to be reimbursed by FRBoard Voucher covering expenses sent to FRBank to be signed and returned for payment Paris office, letter to Mr. Karl E. Prickett on procedure for examination of 12/2 462 7/19 53 10/13 335 1g/30 596 9/19 252 7/19 61 9/15 228 12/5 12/8 486 504 7/29 93 10/11 323 10.8 426 104 528 10/11 323 6 Pages Branch banks, foreign: (Continued) National City Bank of New York: Geneva, Switzerland, extension of time for opening 10/11 Branch, group, and chain banking: (See Committees) Bremer, Otto, principal stockholder of Drovers State Bank of South St. Paul, Minn., indebtedness to banks in New York and Chicago 10/6 Brice, L. h.., reply to letter on securities used as collateral for trust funds awaiting investment at First National Bank of Spartanburg, S. C. 10/5 Briggs, Congressman Clay Stone, suggestion that law be amended to make paper of automobile finance companies eligible for rediscount at FRBanks 12/30 British Government: (See Foreign banks, Bank of England) Buckstaff, F. G., reply to inquiry on use of words "Federal" or "Reserve" in corporate names of institutions 12/19 Budget of FRBoard, transfer from Secretary's Office to other divisions because of transfer of certain employees and activities 03 Buildings: FRBank of Philadelphia, appropriation for additions and alterations favored except fee to United Engineers and Constructors for supervision 8/4 Request of Mr. Sewall for hearing on proposed plans 8/9 Mr. Sewall present at meeting of Executive Committee and discussion of employment of United Engineers and Constructors 8/12 . Sewall and /11r. Robinson present at meeting of FRBoard, budget for building approved except proposed fee for supervision 8/12 Revised budget including item for Clerk-of-the-works in place of fee to United Engineers and Constructors, approved 8/19 Bureau of Agricultural Economics: (See Department of Agriculture) Bureau of Engraving and Printing: Audit of reserve stock of incomplete FRnotes held by, K. R. Iverson designated to represent FRBoard 7/1 Closing on Dec. 24, 25, and 26 and Dec. 31 and Jan. 1 and 2, advice to FRBarOrs of 12/23 Bylaws: Branches of FRBank of San Francisco, amendment to eliminate requirement that one director reside outside of branch city suggested, not necessary at all branches 12/8 FRBank of Dallas, copy not to be furnished to Bank of Brazil 7/1 FRBank of Minneapolis, draft approved with suggested changes and FRBoard to be advised when approved by directors 7/7 Helena Branch, draft approved and FRBoard to be advised when approved by directors of FRBank 7/7 San Antonio Branch, amendment to sec. 8 of Article IV approved 7/19 Seattle Branch, provision that one director reside outside of branch city waived for term commencing Jan. 1, 1933 12/5 Amendment proposed 12/8 325 291 296 594 545 38 115 127 148 152 172 3 561 504 5 16 16 61 486 504 7 Pages ttctt Canadian currency, letter to FRAgent at Cleveland on discontinuance of handling by FRBank FRBanks should offer facilities to member banks for conversion at most favorable rate of exchange obtainable, letter to FRBsnk of Cleveland Canned fruits and vegetables, extension of commercial grading service of Bureau of Agricultural Economics to include Capital stock: (See Stock, capital) Cash letters: (See Clearing and collection) Census Bureau, list of officers and employees of FRBoard not to be furnished for inclusion in official register of United States Names of officers and employees to be published but individual salaries to be omitted, letter to flr. Steuart on Centrox Creamery Co., Centreville, Iowa, handling for collection of drafts drawn on itself and marked payable at a bank Century of Progress Exposition: (See Chicago Worlds Fair) Charge offs and additions to reserves of FRBanks in connection with closing of books at end of 1932 Chicago Worlds Fair, outline of exhibit at, letter to FRAgents on appointment of committee and on expenses for Appointment of Ix-. H. G. Pett as chairman and other members of committee appointed Report of Committee on nature of exhibit, appropriation recommended by Conference of FRAgents but FRBoard opposed to kind of exhibit, action deferred Opinion of Board that proposed expenditure is not justified and plans for exhibit to be abandoned Letter to Chairman of FRAgents Conference that plans for participation in Exposition should be abandoned and letter to 14r. Pett in appreciation for services to committee Circulars: Administration of Clayton Act, questions to be considered at conference of FRAgents Cheeks drawn by business concerns on themselves not payable at or through designated banks, attitude of FRBanks as to handling Committee on exhibit at Chicago Worlds Fair, letter to FRAgents on appointment of Condition reports of State member banks, revised definition in preparation of Form 105 Conference of Governors and FRAgents to be held beginning Nov. 14 and topics for discussion to be submitted Cost of printing FRnotes for fiscal year 1933 Currency, surcharges on registered mail shipments of, appointment of committee to consider changes in practices suggested Q/31 195 1Q/6 312 1Q/6 305 7/19 62 9/19 249 7/20 70 12/23 576 7/20 71 Q/24 187 106 420 11/23 458 12/2 481 11/2 386 8/12 162 7/20 71 1g/23 575 10/11 9/21 326 261 9/15 241 8 Pages Circulars: (Continued) Discount by FRBanks of eligible paper offered by regional Agricultural Credit Corporations 12/9 Earnings and expenses reports of FRBanks, revision in instructions for preparation of 10/27 Examination reports of national banks, increase in charge against FRBanks for copies until June 30, 1933, approved 12/2 Expenditures for educational and welfare work, donations, membership dues at FRBanks, etc. 10/25 Form St. 6170, report of member banks borrowing 80 per cent or more of time, revision of 9/15 Glass Bill, letters to Governors and FRAgents for suggestions on provisions of 102 Grading and inspection work conducted by Bureau of Agricultural Economics, letter to Chairmen and Governors of of all FRBanks on 12/2 Leaves of absence in excess of thirty days on account of sickness, new procedure for reviewing and monthly reports now unnecessary 12/5 Loans to individuals, partnerships, and corporations, letter on requirements of law and procedure under recent amendment to Sec. 13 of FRAct 7 /26 Reissued as circular by FRBank of Atlanta 8/12 Rates on loans to individuals, partnerships, and corporations, single rate favored over spread in rates 8/5 Rediscount of paper of individuals, partnerships, and corporations, reply to FRBank of Minneapolis on commitment to renew or extend 8/9 State member bank requesting permission to organize and acquire capital stock of bank to be located beyond limits of city in which member bank is located, reasons for denying 4/2 Treasury No. 176, rights of FRBanks in cashing Government checks and warrants under, to be considered by Conference of Counsel of FRBanks 9/15 Civil Service Commission, reply to request of Mr. Babcock for information on administrative furloughs granted to employees of FRBoard 12/23 Clayton Act applications: (See Interlocking directorates) Clearing and collection: Cash letters sent by express instead of mail, copies of correspondence between FRBank of Kansas City and a Post Office Inspector sent to all Governors 10/26 Ruling of Second Assistant Postmaster General that there is no objection to sending by express if not accompanied by letter 11/12 Cashing of Government checks and warrants under Treasury circular 176, rights, duties, and responsibilities of FRBanks to be considered by Conference of Counsel 9/15 Check drawn by Palmetto Fish and Oyster Co., on First National Bank of Spartanburg, S. C., now closed, reply to letter on 10/26 514 373 480 365 239 411 480 487 82-86 160 123 129 385 242 574 365 412 242 364 9 Pages Clearing and collection: (Continued) Checks and drafts received by FRBanks from collectors of internal revenue, etc., and drawn on banks not members of FRSystem, request for Treasury ruling on deduction of two cent tax Checks drawn by business concerns on themselves not payable at or through designated banks, attitude of FRBanks as to handling Checks for which actual payment has not been received due to closing of drawee bank, FRBank of Cleveland to discontinue practice of protesting Drafts drawn by Centrox Creamery Co., on itself and marked payable at a bank, method of handling for collection Exchange charges made by member banks in Miami, Fla., for cashing out-of-town checks of depositors and non-depositors Interdistrict time schedule: Chicago to San Francisco and Los Angeles, changes approved Helena to Spokane, change approved Postal money order, reply to Mr. Henry Hafner on charge imposed Y., by State Trust Co., of North Tonawanda, for collection of Remittance drafts received by banks in settlement for cash letters, FRBanks not to reimburse remitting banks for tax on Remittance drafts sent by Elliott State Bank of Jacksonville, I11., in payment of checks, refusal to permit deduction of two cent tax Cleveland, banking situation in, to be discussed by Mr. DeCamp with FRBoard Cold storage companies, reply to letters from Mr. R. A. Switzler on eligibility bf paper of customers of, for rediscount Collateral for FRnotes: (See FRnotes) Collector of Internal Revenue, funds collected under Revenue Act and held for remittance to, not subject to reserve requirements Ruling to be published in FRBulletin Commercial Credit Co., Baltimore, 2- 1d., letter on eligibility of paper of factors engaged principally in textile business in New York City Committees: Acceptance practice of American barks, tentative course of procedure for initiating study of Bank reserves, question of member banks in States requiring segregation of assets of cormercial department from assets of savings department carrying two separate reserves with FRBank referred to Banking and Currency,of Senate and House: (See Legislation) Banking and Industrial Committee of Boston District, expenses to be paid by FRBank 7/7 8/12 7/1 14 162 5 7/20 70 9/19 250 10 7/29 384 93 13/12 410 7/1 7 7/8 21 10/11 327 10,4 304 9,/7 10/6 218 309 7/19 62 102 411 7/29 93 9/21 260 10 Pages Committees: (Continued) Banking and Industrial Committee of Chicago District, expenses to be met and employees to be assigned by FRBank of Chicago 10/11 322 Banking and Industrial Connnittee of Cleveland District, employment of extra people by FRDank discussed and detailed information to be furnished by DeCamp 10/26 344 Martin, Earle E., temporarily appointed publicity manager for, Mr. DeCamp to furnish detailed information 10/26 344 Salary payments already made approved but future payments still under consideration 11/12 415 Salary further considered and approved 11/16 423 Report of Mr. L. B. Williams on activities of 12/6 494 Banking and Industrial Committee of New York District, temporary appointment of Mr. Everett N. Case for work in conjunction with, action deferred 8/19 176 Governor Meyer to discuss appointment with Governor Harrison on account of family relationships 8/24 190 Branch, Group, and Chain Banking: -.1embers of committee present at meeting of FRBoard and activities reviewed by Dr. Coldenweiser 11/3 390 Report of: Mr. Goldenweiser to remain at Cape Cod, Mass., after vacation to work on 8/10 138 Governor Black advised not to allow directors or member of Federal Advisory Council to read summary of, and telegram to all Governors and FRAgents to hold report in confidence 11/21 447 Secretary of Treasury to refrain from reference in his annual report 11/21 446 Annual report revised to eliminate all reference to summary report 11/22 449 Discussion of, and action on publication deferred 11/22 449 Governor of FRBank of Boston advised not to discuss report with his board of directors until further advised by FRBoard 11/22 450 Chairman of Committee on status of report, Report of expenses to date, etc., motion of Mr. Miller to discharge committee 102 524 Conference on Monetary and Economic Questions, Dr. Goldenweiser to represent FRBoard on informal working committee 8/10 145 Exhibit at Chicago Worlds Fair: (See Chicago Worlds Fair) FRBank of New York: Executive, attendance of Hr. Hamlin at regular meeting of 7/7 9 FRBoard: Executive: Authorized to act in connection with bids for addition to building of FRBank of Philadelphia 8/4 117 Authority to approve rates of rediscount on paper of individuals, partnerships, and corporations for ten days or two weeks 8/10 137 Hamlin, G. S., to serve during fourth quarter 10,4 275 11 Pages Committees: (Continued) FRBoard, Executive: (Continued) Maue, to serve during fourth quarter Governors Conference: Insurance, question of group policies of officers and employees retired because of disability or incapacity to be referred to Reply to letter from Governor Calkins that natter has been submitted to conmittee Comptroller General of the United States: Account current rendered by Treasurer of the United States on account of franchise tax receipts from FRBanks to be furnished to Adjusted service certificates, ruling on reduction in maximum rate to be charged on loans secured by Cost of printing FRnotes, ruling that reduction cannot be made because of savings under Economy Act Affirmation of previous decision, letter to FRBanks on Rulings on questions arising under recent Economy Act, memo of Counsel on the effect of Comptroller of the Currency: Examiners, national bank: (See Examiners) Form 2129 for reporting earnings, expenditures, and dividends of national banks, revision now being made National banks: (See National banks) Reports of examination of national banks, proposed increase in charge against FRBanks for copies of Payment of increased fee until June 30, 1933, approved Sponable, Frank W., president of Miami County National Bank of Paola, Kansas, correspondence on personal activities of Condition reports: National banks: Call as of June 30 Call as of Sept. 30 State member banks: Call as of June 30 Call as of Sept. 30 Form 105 revised, approved Letter to FRAgent transmitting revised definition and supplemental schedules Llortgage bonds and participation certificates, information to be submitted with next reports on extent of such business through member banks or affiliated companies Real estate mortgage bonds sold by Pearl Market Bank and Trust Co., before absorption by Central Trust Co., to be reported as contingent liability on form 105 Weekly statement of FRBanks: Gold earmarked by Bank of England for FRBank of Eemr York in connection with instalment on war debt, manner of showing Loans to individuals, corporations, etc., manner of showing 10/6 275 7/7 15 7/20 69 11/2 385 12/2 477 q/31 9/21 199 261 8/10 144 12/14 529 1V16 12/2 422 480 8/19 173 7/1 10,4 1 275 7/1 10/6 12/2 1 275 482 1g/23 575 106 421 10/13 335 12/23 575 8/9 128 12 Pages Condition reports: (Continued) Weekly statement of reporting member banks: Central Republic Bank and Trust Co., Chicago, Ill., to be dropped from list Conferences: Counsel of FRBanks to meet jointly with Standing Committee on Collections on Oct. 10, topics for discussion Clayton Act permits, policy and procedure in granting discussed FRAgents: Capital structure of existing banks, statement on restoration of Exhibit at Chicago Worlds Fair: (See Chicago Worlds Fair) Meeting tentatively scheduled for Nov. 14 Meeting to be held in Washington beginning Nov. 14, topics for discussion to be submitted Program for meeting transmitted to all FRAgents and Governors Recommendations of: Interlocking directorates, work to be done by Counsel's Office in assembling information made special order for meeting on Dec. 9 Topics for discussion: Acceptance practices of American banks, tentative course of procedure for initiating study of Charge against FRBanks for copies of examination reports of national banks Payment of increased fee until June 30, 1933, approved Interlocking directorates under Clayton Act, policy and procedure in granting permits Questions on administration of Sec. 8, memoranda prepared by Mr. Wyatt and 1;1r. Chase on Letter to :jr. Curtiss on FRAgents and Governors; Salaries of officers and employees at FRBanks, resolution that they should not be reduced at this time Statement of Governor Norris giving views on resolution Governors: Insurance committee, question of group policies of officers and employees retired because of disability or incapacity to be referred to Reply to letter from Governor Calkins that matter has been referred to committee Meeting with FRBoard convened for discussion of proposed amendment to FRAct on rediscounts for individuals, etc. Meeting discussed, and opinion it should be held not later than first of September Meeting tentatively scheduled for Nov. 14 Meeting to begin in Washington on Nov. 14, topics for discussion to be submitted Program for meeting beginning on Nov. 14 transmitted to all Governors and FRAgents 11/2 387 9/15 242 10/26 367 12/5 489 9/21 263 10/11 326 11/3 393 1g/2 460 11/12 411 11/16 422 lg/2 480 9/21 263 11/2 10/26 386 366 12/5 489 1g/14 531 7/7 15 7/20 69 7/15 49 7/15 9/21 51 263 10/11 326 11/3 393 13 Pages Conferences: (Continued) Governors: (Continued) Topics for discussion: Acceptance practices of American banks, tentative course of procedure for initiating study of Charge against FRBanks for copies of examination reports of national banks Payment of increased fee until June 30, 1933, approved Checks drawn by business concerns on themselves not payable at or through designated banks, attitude of FRBanks as to handling to be reviewed Grading service of Bureau of Agricultural Economics, extension to include canned fruits and vegetables Rules, regulations, and procedure under proposed amendment to sec. 13 of FRAct to make paper of individuals and corporations eligible for discount at FRBanks (See also Legislation) Monetary and Economic Questions, to be convoked by League of Nations, Dr. Goldenweiser to represent FRBoard on informal working committee 'Jr. Walter R. Gardner to attend meeting of preparatory committee of experts at Geneva in unofficial capacity Norman, Governor, of Bank of England, with officials of FESystem, reference by Mr. Hamlin to press statements on Open Market Policy: (See Open Market Policy Conference) uongressional service of Corporation Trust Co., covering pending legislation, subscription approved Co nsolidations: Albany State Bank, Albany, Ore., assets purchased and liabilities assumed of First Savings Bank, no objection to transaction but increase in capital account suggested American National Bank, Beaumont, Texas, with City National Bnnk, certificate to exercise trust powers of constituent banks Anglo California Trust Co., San Francisco, Calif., and Anglo and London Paris National Bank under title of Anglo California National Bank Bank of Woodburn, Ore., assets acquired and liabilities assumed of First National Bank of Woodburn Capital National Bank, Lansing, Mich., absorption of City National Bank of Lansing Carbon Emery Bank, Price, Utah, with Price Commercial and Savings Bank, no objection to Chemical State Savings Bank, Midland, Mich., absorption of Peoples State Savings Bank of Midland Citizens Trust Co., Adams, N. Y., and Farmers National Bank under title of Citizens and Farmers Trust Co., action deferred 4/12 411 11/16 422 1g/2 480 8/12 10/6 162 305 7/13 40 g/lo 145 10/11 332 9/15 243 12/2 481 11/12 406 7/19 58 8/24 186 7/29 95 g/12 156 9/15 236 7/12 28 9/15 237 14 Pages Consolidations: (Continued) City National Bank, Lansing, Mich., absorbed by Capital National Bank, FRBank stock cannot be cancelled until placed in liquidation or receivership 10/27 372 City National Bank and Trust Company, Chicago, Ill., to assume deposit liabilities of Central ±epublic Bank and Trust Company of Chicago 10/5 265 Deposits of Central Republic Bank and Trust Company transferred to 11/2 387 Cleveland Trust Co., Cleveland, Ohio, assets acquired and liabilities assumed of Peoples Savings Bank, Lorain, action deferred 10/26 357 Coffman Dobson Bank and Trust Co., Chehalis, Wash., assets acquired and liabilities assumed of First National Bank of Chehalis 8/31 197 Continental Bank and Trust Co., New York City, absorption of Straus National Bank and Trust Co., International Trust Co.and Industrial National Bank 7/1 3 First and Merchants National Bank, Radford, Va., formed by consolidation of First National Bank and Farmers and Merchants National Bank 8/3 110 First Central Trust Co., Akron, Ohio, proposed purchase of assets of First-City Savings Bank of Barberton discussed by Mr. DeCamp 10/26 343 First National Bank, Derry, N. h., absorption of Derry National Bank and efforts to secure cancellation of FRBank stock 8/19 171 First National Bank, Floresville, Texas, and City National Bank under title of First City National Bank 12/2 465 First National Bank, Plainfield, N. J., with Fourth National Bnrk, certificate of authority to exercise fiduciary powers 108 429 First National Bank, Stroudsburg, Pa., with Stroudsburg National Bank to form First-Stroudsburg National Bank 10/6 296 First National Bnrk of Tyrone, Pa., and Blair County National Bnrk and Trust Co. as First Blair County National Bank 4/2 377 First National Bank of Woodstawn, N. J., proposed absorption of Salem County Trust Co., effect on exercise of fiduciary powers 11/23 454 Linden Trust Co., Linden, N. J., absorption of Linden National Bank, no objection to 1g/12 519 Lock Haven Trust Co., Lock Haven, Pa., and Clinton Trust Co. of Lock Haven under new charter 8/10 139 iSonroe County Bank, Dundee, Mich., absorption of Dundee State Savings BPI* 10/26 357 St. Joseph Loan and Trust Co., South Bend, Ind., savings deposit liability of Mishawaka St. Joseph Loan and Trust Co. assumed by, no action until after examination 10/26 358 Schuylkill Haven Trust Co., Schuylkill Haven, Pa., jointly with First National Bank and Trust Co. acquired assets and assumed liabilities of State Bank of Schuylkill haven 8/9 134 15 Pages Consolidations: (Continued) Schuylkill Haven Trust Co.: (Continued) Credit investigation of State member bank reviewed and no objection to transaction Sundance State Bank, Sundance, Wyo., absorption of Hulett State Bank, Hulett, Wyo. Terre Haute National Bank and Trust Co., Terre Haute, Ind., with First-McKeen National Bank and Trust Co. under title of Terre Haute First National Bank United States National Bank of Johnstown, Pa., contemplated absorption of three State institutions in Johnstown United States Trust Co., Boston, Mass., assets purchased and liabilities assumed of Bank of Commerce and Trust Co., no objection to transaction Wbodlawn Trust Co. of Aliquippa, Pa., assets acquired and liabilities assumed of Aliquippa National Bank York Trust Co., York, Pa., assets acquired and liabilities assumed of North York State Bank Conversions: Continental-Illinois Bank and Trust Co., Chicago, Ill., into national bank, application for fiduciary powers Guaranty Bank and Trust Co., St. Louis, Mo., into GuarantyPlaza Trust Co. Illinois Bank and Trust Co., Rockford, Ill., to Illinois National Bank and Trust Co., permit to exercise fiduciary powers will be issued under conditions stated Counsel, FRBanks, Conference of: (See Conferences) Counsel, General: Memoranda of: Amendment to World Aar Adjusted Compansation Act with Regulation G and regulations of Veterans Administration as revised to be published in FRBulletin Baker, Newton D., fee covering services rendered from November 1930 to September 1932, approved Bonds for use by FRAgents and Assistants, revision in form of Certificates of deposit payable to other banks within thirty days, ruling on classification by member banks as demand deposits to be published in FRBulletin Clayton Act, questions on administration of, to be considered at Conference of FRAgents (See also Interlocking directorates) Conference of Counsel of all FRBanks to be called for Oct. 10 to meet jointly with Standing Committee on Collections Congressional service of Corporation Trust Co. covering pending legislation, subscription approved FRBulletin, publication of statement on branch banking situation in Virginia and ruling on funds held for remittance to Collector of Internal Revenue not subject to reserve requirements 12/12 520 7/12 28 12/2 465 9/21 259 12/23 568 8/3 110 9/7 217 10/6 272 8/19 169 11/12 401 q/31 193 13/12 409 10/27 373 1V12 410 13/2 386 9/15 242 1g/2 481 10/6 309 16 Pages Counsel, General: (Continued) Memoranda of: (Continued) Lucas v. FRBank of Richmond, decision of Circuit Court of Appeals to be published in FRBulletin 7/7 McCumber, Sidney b., application for interlocking directorates approved subject to further consideration 1Q/27 Mortgage bonds or participation certificates issued by subsidiary company of Misstssippi Valley Trust Co., legal aspects to be reconsidered 94/7 Memoranda of Mr. Wingfield and Mr. Smead on extent and possible restriction of such business, and information to be submitted by all member banks with next condition reports 11/16 National bank notes issued under section of Federal Home Loan Bank Act, opinion of Attorney General to be published in FRBulletin W19 National Economy Act, application of provisions to FRBoard 7/19 Rulings of Comptroller General on questions under Economy Act in so far as they affect FRBoard 8/10 Stock, purchase by State member bank in another banking institution, right of FRBoard to refuse permission or approval, opinion requested 11/3 Unified commercial banking system under national supervision, constitutional method of establishing 12/6 Court cases: Baker, Newton D., fee for services: (See Baker) FRBank of New York, fees to attorneys for services in prosecution of preferred claims against State Bank of Binghamton and E. C. Brewer Co. 7/7 Lucas v. FRBank of Richmond, decision of Circuit Court of Appeals to be published in FRBulletin 7/7 Credit conditions, request of lir. French Strother for copies of statements published by FRBoard during 1923 and 1929 indicating policy toward 9/2 Credit data in connection with unsecured loans to be maintained by Ogdensburg Trust Co. as condition of membership 1Q/6 Credits to foreign banks: (See Foreign banks) Cuba: Exchange by Havana Agency with Cuban Treasury Department for Cuban gold coin 1Q/26 Contract with FRBank of Atlanta for credit in New York City in exchange for a like amount of Cuban gold coin which is to be repurchased by Republic 12/15 Havana residence of H. C. Frazer, correspondence on search by secret police 8/12 Currency: Canadian: (See Canadian currency) Exchange by Havana Agency with Cuban Treasury Department for Cuban gold coin 1Q/26 Contract with FRBank of Atlanta for credit in New York City in exchange for like amount of Cuban gold coin which is to be repurchased by Republic 12/15 FRnotes: (See FRnotes) 14 373 219 421 172 63 144 392 498 12 14 205 298 362 540 160 362 540 17 Pages Currency: (Continued) National bank notes: (See National bank notes) Shipments, increase in registry costs, request that Post Office Department accept without declaration 8/12 161 of value to Surcharges on registered mail, circular letter Governors of FRBanks and appointment of commit9/15 241 tee to study practices suggested Treasurer of Subsidiary silver and minor coin for account of United States, to be held in joint custody by 9/15 238 FRBank and FRAgent at Atlanta Currency depots: Boise, Idaho, established by FRBank of San Francisco for 311 104/6 temporary period Charleston, S. C., established by FRBank of Richmond without 31 7/12 approval of FRBoard New Haven, Conn., establishment of two temporarily by FRBank of Boston in Newhaven Bsnk, N. B. A., and 78 7/26 Merchants National Bank Building Twin Falls, Idaho, established by FRBank of San Francisco and terminated by return of currency to Salt Lake 311 10/6 City Branch CUBhman Manufacturing Co., H. T., loan under Sec. 13, as amended 102 398 Danahy Packing Company, Buffalo, E. Y., letter on charge imposed by State Trust Company of North Tonawanda, N. Y. 13/12 for collection of Postal money order Davis, of Robert application to letter on reply J., James 12/2 H. Helriegel for position as examiner Dawes, Charles G., telegrams agreeing to conditions to be imposed on City National Bank and Trust Company, Chicago, Ill., in connection with application 10/5 for fiduciary powers deldoney, Earle R., reply to suggestion that claims of salesmen for deferred payments of commissions on sales 10/6 be considered basis for extension of credit Dennett, Carl P., reimbursement for expense of Banking and 9/21 Industrial Committee of Boston District Department of Agriculture: Bankers acceptances issued by Lawrence Warehouse Company against warehouse receipts, eligibility for 10/6 rediscount at FRBanks Grading service extended to include canned fruits and 104/6 vegetables, letter to Governors of FRBanks on Circular letter to Chairmen mid Governors of FRBanks on grading and inspection work conducted by 12/2 Bureau of Agricultural Economics Department of Commerce, statistics furnished to FRBoard by, reply 4/22 to letter on usefulness of Department of Justice: National bank notes, interpretation of three year limitation 8/10 on issuance under new law requested 410 461 265 303 260 305 305 480 451 146 18 Pages Department of Justice: (Continued) National bank notes: (Continued) Discussion with Attorney General arranged by Mr. :diner for representatives of FRBoard 8/12 163 Opinion of Attorney General to be published in FRBulletin 8/19 172 Department of State, request for any report by Ambassador Guggenheim on search of residence of L:r. H. C. Frazer by Cuban police 02 160 Deposits: Central Republic Bank and Trust Co., Chicago, Ill., transf er to City National Bank and Trust ,o. 1112 387 Certificates payable to other banks within thirty days, ruling on classification by member bank as demand deposits, to be published in FRBulletin 102 410 Revision of Form 105 as result of ruling 12/2 482 FRBank of New York with Bank for International Settlements, advice of further withdrawals from 7/7 9 Guaranty of, reply to inquiry of 1,1r. C. h. Van Ostrand on 0/12 161 Personal loans, reply that Lycoming Trust should maintain reserves against certain collateral certificates issued to customers to secure 7/19 Cl Time certificates payable by one bank to another and due within thirty days, reply to jr. Gough on classification of 9/21 262 Dill, Senator Clarence C., reply to letter on rediscount by FPBanks of municipal warrants with no definite maturity date 12/30 593 Directors: French American Banking Corporation: Duran, Paul, elected to replace Maurice Silvester 7/19 61 Directors, FRBanks: Candidate who has requested name to be withdrawn but whose nomination has not been withdrawn by all nominating banks, manner of showing on ballot 10/26 363 Class C, appointment made special order of business for meeting on date to be fixed by Governor 11/23 457 Election of Class A and B, no changes in group classifications to be made this year but FRAgents to submit recommendations for action next year 9/15 239 Reply to FRAgent at Chicago on classification of member banks for 108 431 FRAgents: (See FRAgents) FRBank of Atlanta: Rettig, W. H., reappointed deputy chairman for 1933 12/8 507 Newton, Oscar, reappointed Class C for three year term and redesignated FRAgent for 1933 12/3 507 FRBank of Boston: Bemis, Albert F., resignation as Class B and to hold special election for unexpired term 8/10 138 Curtiss, Frederic H., reappointed Class C for three year term and redesignated FRAgent for 1933 12/8 506 Hollis, Allen, reappointed deputy chairman for 1933 12,/8 506 FRBank of Chicago: Candidate for election as Class B who has requested his name be withdrawn and whose nomination has not been withdrawn by all nominating banks, manner of showing on ballot 10/26 363 19 Pages Directors, FRBanks: (Continued) FRBank of Chicago: (Continued) Election of Class A and B, State member banks in Michigan in hands of custodians not entitled to vote Simpson, James, reappointed Class C for three year term and deputy chairman for 1933 Stevens, Eugene M., redesignated FRAgent for 1933 Note signed by, and held by Continental Securities Co., secured by shares of Continental Illinois Bank and Trust Co. FRBank of Cleveland: Connor, Ben R., election as Class A for unexpired term of Mr. Sams DeCamp, George: (See FRBank of Cleveland, Staff) Payment of per diem allowances to local directors, letter to FRAgent on Sams, 0. if., death of Williams, L. B., to be invited to meet with FRBoard to discuss reappointment of Mr. DeCamp Meeting with FRBoard and discussion of indebtedness of Mr. DeCamp, Governor Fancher, and Deputy Governor Zurlinden Report on activities of Banking and Industrial Committee of District Report of Governor Meyer on further discussion of reappointment of Mr. ueCamp and desire of Mr. Williams for more time to consider matter Confined to home by illness and to telegraph later when he can meet with FRBoard to discuss appointment of Class C director and designation of FRAgent Advice that he will not be able to attend meeting this meek but will arrange to be at meeting on Tuesday of the next week meeting of FRBoard and recommendation of at Present directors of FRBank that Er. DeCamp be reappointed and submit resignation effective at pleasure of FRBoard, submitted and adopted Advice that Mr. DeCamp has agreed to procedure suggested and reappointed Class C Director and redesignated FRAgent Reappointed deputy chairman for 1933 FRBank of Dallas: Brown, B. R., reappointed Class C for three year term Culbertson, J. J., advice of death of Minutes of meeting giving report on operating economies effected and on visit of Governor McKinney to banks of district during August Perkins, F. B., redesignated deputy chairman for 1933 Walsh, C. C., redesignated FRAgent for 1933 FRBank of Kansas City: Langworthy, E. M., reappointed deputy chairman for 1933 McClure, Y. L., reappointed Class C for three year term and redesignated FRAgent for 1933 Sponable, Frank ',i., letters on personal activities of 9/19 12/8 248 12/8 508 508 12/19 551 8/10 137 8/31 8/10 195 137 12/5 491 12/6 492 12/6 494 12/6 499 104 532 12/14 541 12/20 557 100 12/8 596 507 12/8 lq/6 509 276 9/19 12/8 12/8 248 509 509 12/8 509 12/8 8/19 509 173 20 Directors, FRBanks: (Continued) FRBank of Kansas City: (Continued) Sponable, Frank VT.: (Continued) Reply to letter from FRAgent on explanation of matters referring to 10/6 FRBank of Minneapolis: Clark, Homer P., reappointed deputy chairman for 1933 12/8 Mitchell, John R.: Bond of 10/11 Leave for ten days or two weeks approved 8/3 Reappointed Class C for three year term and redesignated FRAgent for 1933 12/8 FRBank of New York: Case, J. h., redesignated FRAgent for 1933 12/8 Young, Owen D., reappointed Class C for three year term and deputy chairman for 1933 12/8 FRBank of Philadelphia: Austin, Richard L., reappointed Class C for three year term and redesignated FRAgent for 1933 12/8 Present at meeting of FltBoard to discuss organization of Main Line Trust Co., Ardmore, Pa., and holding of stock by member bank 12,/19 Johnson, Alba B., reappointed deputy chairman for 1933 12/8 Sewall, Arthur W., request for hearing on enlargement of building 8/9 Present at meeting of Executive Committee and discussion of employment of United Engineers and Constructors for supervision of work 8/12 Present at meeting of FRBoard with Mr. Robinson, budget for building approved except proposed fee for supervision 4/12 FRBank of Richmond: Addison, W. Meade, resignation as Class B 8/24 Class B, election of successor to Mr. Addison to be held with regular election 8/24 Delano, Frederic A., reappointed deputy chairman for 1933 12/8 Hoxton, W. W., reappointed Class C for three year term and redesignated FRAgent for 1933 12/8 Reed, Charles C., elected Class B, resignation to be secured because of position as Chairman of Board of Supervisors of Chesterfield County 124/23 FRBank of $t. Louis: Dillard, Paul, appointed deputy chairman for 1933 124/8 Stanley, John R., appointed Class C for three year term 12/8 Wood, John S., redesignated FRAgent for 1933 12/8 FRBank of San Francisco: Moore, Walton N., reappointed deputy chairman for 1933 12/8 Newton, Isaac B., reappointed Class C Director and redesignated FRAgent 12/8 Political activities of, protest of Robert A. Taft of discrimination against directors of Cincinnati Branch 4/3 Directors, FRBranch banks: Appointments for terms beginning Jan. 1, 1933, made special order of business for meeting on date to be fixed by Governor 13/23 Pages 301 509 320 100 509 506 506 507 546 507 127 148 152 183 183 507 507 572 508 508 508 510 510 393 457 21 Pages Directors, FRBranch banks: (Continued) Baltimore: Cohill, E. P., reappointed for three year term Prentis, Merton 1,1., no objection to serving as State Fiscal Agent of Maryland Birmingham: Farley, John G., appointed for unexpired portion of term Frye, John h., designation end salary as Managing Director and to sever outside connections Advice that all outside business connections have been severed Walker, A. E., Managing Director, advice of death of Wells, Oscar, reappointed for three year term Buffalo: Cooley, F. B., reappointed for three year term Charlotte: Cannon, Charles A., reappointed for three year term Cincinnati: Discrimination against, protest of Robert A. Taft on political activities of other FRBank directors Omwake, John, reappointed for three year term Denver: Davis, R. h., reappointed for three year term Detroit: Gray, Vt. J., advice of death of Hull, N. P., reappointed for three year term El Paso: Coles, A. P., reappointed for three year term Flory, George D., advice of death of Young, Sam D., appointed for unexpired term of irs. Flory Helena: Sullivan, Vt. P., appointed for two year term Houston: Wilson, J. Cooke, reappointed for three year term Jacksonville: Saussy, Fulton, reappointed for three year term Little Rock: Campbell, G. h., reappointed for three year term Los Angeles: Alexander, J. B., reappointed for two year term Louisville: Cole, W. R., reappointed for three year term Llamphis: Orgill, William, reappointed for three year term Nashville: Davis, P. 1., reappointed for three year term New Orleans: Simon, L. C., reappointed for three year term Oklahoma City: Mee, William, advice of death of Miller, Austin, reappointed for three year term Omaha: Hardy, W. B., reappointed for three year term 12/8 507 12/20 555 09 246 7/26 75 8/12 7/12 12/8 155 24 508 12/8 507 12/8 507 13/3 12/8 393 507 3.2/8 509 12/27 582 508 12/8 12/8 509 7/19 53 53 7/19 12/8 509 12/8 510 12/8 508 12/8 508 12/8 510 12/8 508 12/8 509 12/8 508 12/8 508 12/19 12/8 546 509 12/8 509 22 Directors, FRBranch banks: (Continued) Pittsburgh: Humphrey, A. L., reappointed for three year term la/8 Portland: Haller, harry M., appointed for unexpired term 12/3 Pease, Edward C., reappointed for two year term 12/8 Strauss, Nathan, resignation accepted 12/0 Salt Lake City: ,right, G. G., reappointed for two year term la/8 San Antonio: King, Richard, appointed for three year term la/0 Seattle: Provision of bylaws that one director reside outside of city waived for term commencing Jan. 1, 1933 12/5 Temporary amendment to bylaws to make exception during 1933 12/8 Rhodes, Henry A.. reappointed for two year term 12/8 Spokane: Easton, Stanly A., appointed for unexpired term 12/8 LicGregor, Peter, reappointed for two year term 12/8 Toevs, G. I., advice of death of 8/24 Discount rates: (See Rates) Dividends: Allegheny Trust Co., Pittsburgh, ia., requested to reduce or eliminate until in more satisfactory condition 7/0 Baltimore Commercial Bank, Baltimore, Md., FRAgent to take up discontinuance of, with State Dank Commissioner 102 Crawford County Trust Co., —eadville, Pa., reduction or elimination because of unsatisfactory condition suggested la/23 Detroit Savings Bank, Detroit, Mich., reduction in rate suggested because of condition 12/19 FRBanks, payment of regular semi-annual, approved la/23 hibernia Bank and Trust Co., i4ew Orleans, La., FRAgent to discuss further payments with State Bank Commissioner 12/12 Manchester Trust Co., Conn., further payments to be discussed with State Bank Commissioner 12/30 Mercantile Bank and Trust Co. of Texas, Dallas, Texas, further payments to be discussed with State Bank Commissioner 12/2 National banks, revision in Form 2129 being made by Comptroller of the Currency 12/14 Peoples-Pittsburgh Trust Co., Pittsburgh, ia., further reduction in quarterly rate suggested 11/12 State member banks, revised form of report and letter of instructions approved 12/14 Union Bank and Savings Co., Bellevue, Ohio, FRAgent to discuss further payments with State Superintendent of Banks la/2 Union Trust Co., Ellsworth, i.e., cessation of payments recommended until condition is improved 10/6 Suspension of payments to conserve earnings recommended la/2 Wachovia Bank and Trust Co., Winston-Salem, N. C., analysis of examination report showing payment of unearned 12/12 Pages 507 510 510 510 510 510 486 505 510 510 510 183 19 405 570 544 576 521 591 474 529 405 529 471 290 469 521 23 Pages Dollar exchange: President and Directors of the Manhattan Co., New York City, 11/21 445 permission to accept for creating Donations and membership dues being paid by FRBanks or branches, 10/26 365 letter to FRBanks for statement on Dow Chemical Co., solvency of Chemical State Savings Bank, Midland, 28 7/12 Mich., dependent upon successful operation of Duncan, A. E.; (See Commercial Credit Co.) Earnings and dividends reports of State member banks, revised forms and letter of instructions approved Earnings and expenses reports of FRBanks, revision of instructions for preparation of Economy Acts (See Legislation) Emergency Relief and Construction Acts (See Legislation) Empire China Company, inquiry on discounts to individuals, partnerships, and corporations under arendment to sec. 13 of FRAct Employees: FRBanks: (See FRBank of FRBoard: (See Staff of FRBoard) Europe, financial conditions in various countries, Mr. Gardner to make trip to obtain first-hand information Examinations: Allegheny Trust Co., Pittsburgh, Pa., showing unsatisfactory condition and own stock held as collateral Baden Bank, St. Louis, Mo., analysis of report, additional information requested Baltimore Commercial Bank, Baltimore, Md., analysis of report, FRAgent to discuss with Bank Commissioner the discontinuance of dividend payments analysis of report of, Baltimore Trust Co., Baltimore, FRAgent to give close attention to situation Bank of Dawson, Ga., analysis of report showing unsatisfactory condition and shares of own stock held Blanchard State Bank, Blanchard, Mich., analysis of report, additional information requested Carthage National Exohange Bank, Carthage, N. Y., analysis of report in connection with application for fiduciary powers, action deferred Chagrin Falls Banking Co., Chagrin Falls, Ohio, request for additional information on certain matters referred to in report Chase Bank: Mexico City office, letter to Mr. W. J. Evans with authority to conduct Expenses of Mr. Evans to be paid by FRBank, and to be reimbursed by FRBoard Voucher covering expenses sent to FRBank to be signed and returned and payment to be forwarded when received from Chase Bank 12/14 529 10/27 373 9/15 241 10/11 332 7/8 19 101 441 11/12 405 7/26 77 11/18 430 11/21 141 12/14 528 12/2 470 10/11 323 108 426 12/14 528 24 Pages Examinations: (Continued) Chase Bank: (Continued) Paris office, letter to 14r. Karl E. Prickett on procedure for conducting 10/11 Chemical State Savings Bank, :lidland, Rich., inadequate capitalization revealed by analysis of report 7/12 Citizens State Bank, Marianna, Fla., unsatisfactory condition disclosed by analysis of report 12/2 Citizens State Bank, L)hebor7an, dis., analysis of report, additional information requested 11/21 Continental Illinois Bank and Trust Co., Chicago, Ill., report in connection with application for fiduciary powers for national bank after conversion 10/13 Crawford County Trust Co., Meadville, Pa., analysis of report showing unsatisfactory condition 12/23 Dallas Bank and Trust Co., Dallas, Texas, analysis of report shows holdings of most of capital stock of Dallas Title and Guaranty Co. which has notes secured by stock of member bank 12/2 Detroit Savings Bank, IJetroit, Mich., analysis of report discussed and reduction in rate of dividends slgesWd12/19 Erie County Banking Co., Vermilion, Ohio, analysis of report shows holding own stock as collateral to loans 10/6 Farmers and Merchants Bank, Sebewaing, Mich., condition as reflected in analysis of report 8/24 Farmers State Guaranty Bank, Valiant, Okla., analysis of report showing unsatisfactory condition 12/19 Fayette Bank and Trust Co., Connersville, Ind., disposal of own stock now carried 10/6 FRBank of Boston, report received and letter to FRAgent to advise of action taken on criticized practices 9/15 FRBank of Chicago, expenses of examiners of FRBank of Cleveland detailed to assist in, reimbursement approved 102 FRBank of Cleveland, letter to FRAgent on matters discussed with officers of bank by examiners 8/31 Lotter to FRAgent with further reference to exchange of Canadian currency and other matters 10/6 FRBank of New York, expenses of employees of certain FRBanks detailed to assist in, ordered paid 8/10 Report as of June 18 9/19 Letter from FRAgent on attention being given to comments and suggestions of examiners 11/2 Holding of securities for liarding Memorial Association and as trustee for bequest of former Governor Strong questioned 11/2 Memo of Mr. Paulger on effort of FRBank to have Harding Llenorial Association account removed 12/8 FRBank of Richmond, FRAgent to advise of action on recommendations and criticisms of examiners 7/12 Attention given by FRBank to cements and suggestions of examiners 8/10 FRBank of San Francisco, letter to FRAgent on comments and suggestions made by examiners in recent report 8/19 Letter on changes as result of comments of examiners 10/6 323 28 471 441 336 570 474 544 300 135 544 299 242 409 195 312 138 252 384 384 506 30 139 173 312 25 Pages Examinations: (Continued) FRBanks, letter to Mr. Paulger that at least one examination of each FRBrink be made during 1933 First Central Trust Co., Akron, Ohio, report presented by Er. DeCamp and discussed Forney State Bank, Forney, Texas, analysis of report submitted and action deferred on termination of membership Greenwood Bank and Trust Co., Greenwood, Miss., analysis of report, letter on improvement in criticized matters Guardian Trust Co., Cleveland, Ohio, report received by La.. DeCamp and to be discussed with FRBoard Analysis of report presented by Mr. DeCamp and copy of report to be forwarded Report showing notes held in assets signed by Governor Fancher and Mr. DeCamp Hibernia Bank and Trust Co., New Orleans, La., analysis of report, FRAgent and Governor of FRBank to aid bank to better its condition International Acceptance Bank, Inc., in connection with application of Manhattan Co. for membership Report of Mr. Paulger on examination now in progress Kentucky Title Trust Co., Louisville, Ky., efforts to correct matters criticized in report Leesburg State Bank and Trust Co., Leesburg, Fla., analysis of report showing unsatisfactory condition Manchester Trust Co., South Manchester, Comm., analysis of report showing unsatisfactory condition Manhattan Co., New York City, in connection with application for membership James P. Warburg present at meeting of FRBoard to discuss application for membership Report of Mr. Paulger on examination now in progress Member banks in Richmond District, furnishing of information of confidential sections of reports to Richmond Loan Agency of Reconstruction Finance Corporation Mercantile Bank and Trust Co. of Texas, Dallas, Texas, analysis of report showing control of banking institutions through wholly owned subsidiary Merchants Banking Trust Co., Mahanoy City, Pa., analysis of report showing irregularities Park Savings Trust Co., Richmond Heights, Mo., report showing losses creating impairment of capital stock Peoples Bank, Bishopville, S. C., violation of conditions of membership indicated by analysis of report of Peoples-Pittsburgh Trust Co., Pittsburgh, Pa., analysis of report showing awn stock held as collateral to loans, need for reduction in dividend rate, etc. Pigeon State Bank, Pigeon, Mich., analysis of report, corrective measures suggested to FRAgent Report of national banks, proposed increase in charge against FRBanks for copies of Payment of increased fee until June 30, 1933, approved 12/23 566 10/26 343 4/2 380 12/2 473 10/11 327 10/26 343 4/23 457 1g/12 521 11/3 11/21 392 442 11/2 382 11/2 382 12/30 591 11/3 392 11/18 432 4/21 442 10/6 308 1g/2 474 10/26 359 11/2 382 7/19 57 11/12 404 12/6 495 11/16 124/2 422 480 26 Pages Examinations: (Continued) State member banks, lists of those not examined during 1932 to be furnished FRBoard 12/30 Union Bank and Savings Co., Bellevue, Ohio, analysis of report, FRAgent to discuss condition with State Superintendent of Banks 12/2 Union Trust Co., Ellsworth, Me., to be arranged by FRAgent and to be participated in by representative of his office 10 Wachavia Bank and Trust Co., Winston-Salem, N. C., analysis of report showing payment of unearned dividends, etc. 12/12 W. B. Worthen Co., Bankers, Little Rock, Ark., analysis of report, additional information requested 11/21 Examiners: FRBank of Chicago: Anderson, Ernest H., appointment and salary as assistant 10/6 Pitman, Carol L., designation and salary approved 8/12 FRBank of Cleveland: Appointment of one additional, because of increased work, FRBoard to entertain recommendation 02 Expenses of those detailed to assist in examination of FRBank of Chicago, reimbursement to FRBank to cover 102 Miller, James 11., designation and salary approved 7/26 FRBank of Now York: Healey, James W., designated Assistant 12/2 Marsh, Spencer, Jr., designated Assistant 12/2 Montmeat, Frank E., designated Assistant 12/2 Stroeble, Donald S., designated Assistant 12/2 FRBank of Philadelphia: Algier, Edward L., designated special assistant 9/15 Gerstenacker, George L., designated special assistant 9/15 Harris, Earle 'W., designated special assistant 12/23 Nelson, Henry J., designated special assistant 9/15 Special Assistants, designation of eleven employees as 10/6 FRBank of San Francisco: Sargent, S. G., appointed Chief Examiner for FRBank 12/23 Snow, G. A., appointed examiner for 1933 103 Sonne, H. A., appointed examiner for 1933 12/23 Swengel, H. D., appointed examiner for 1933 12/23 FRBoard: Brett, R. H., resignation of 4/2 Brawn, 6tuart L., appointed Assistant Examiner and salary approved 10/6 Chamberlin, R. B., transferred from field force to Washington office 0 Conley, L. C., resignation as Assistant FRExaminer 4/2 Farrell, E. A., resignation as Assistant to accept position with Reconstruction Finance Corporation 7/29 Helriegel, Robert H., application for position, reply to letter from Senator Davis on 12/2 Highfield, Carroll R., appointment and salary as Assistant FRExaminer 9/7 594 471 469 521 441 278 155 27 409 75 462 462 462 462 228 228 562 228 278 563 563 563 563 387 276 213 387 88 461 214 27 Pages Examiners: (Continued) FRBoard: (Continued) Lee, Andrew W., appointed Assistant Examiner and salary approved Leonard, R. F., report on examination of trust department of Continental Illinois Bank and Trust Company, Chicago, Ill. Millard, Edwin R., appointment and salary approved Paulger, L. H.: Directed to make at least one examination of each FRBank during 1933 Leave without pay while serving Reconstruction Finance Corporation extended to Sept. 30 Report on examination of trust department of Continental Illinois Bank and Trust Co., Chicago, Ill. Strahorn, Charles A., appointed Assistant Examiner and salary approved National bank: Carter, A. B., files and future work relating to granting of trust powers to national banks transferred to Division of Examinations Priokett, Karl E., letter authorizing procedure for examination of Paris office of Chase Bank Taylor, William, report of examination of Guardian Trust Company shoving note held in assets signed by Salaries: Baldridge, W. H., as Chief Examiner for Ninth FRDistrict Burk, Lysle S. Hecht, Louis C. a. MadlfIrd, L. L., as Chief Examiner for Twelfth FRDistriot Patterson, Thomas C. Riemers, David H. Starr, Douglas 0. Underwood, jAarvin L. Vandoren, William T. State bank, to be furnished with FRBulletin free of charge for 1933 if they desire it EXchange charges on checks: (See Clearing and collection) Exhibit at Chicago Worlds Fair, reply to FRAgent at Chicago on outline and placing of exhibit and letter to all FRAgents on appointment of committee Appointment of Mr. H. G. Pett as charinan and other members of committee appointed, and executive committee appointed Report of Committee on nature of exhibit, appropriation recommended by Conference of FRAgents but FRBoard opposed to visual exhibit, action deferred Opinion of FRBoard that the proposed expenditure is not justified and plans for exhibit to be abandoned 10/6 276 10/13 336 11/23 453 12/23 566 8/9 136 103 336 10/6 276 7/1 1 10i 323 4/23 457 12/23 563 10/26 348 102 408 12/23 12/2 563 463 52 7/19 277 10/8 8/3 loo 09 246 106 420 7/20 71 8A4 187 10/16 420 11/23 458 28 Pages Exhibit at Chicago Worlds Fair: (Continued) Letter to Chairman of FRAgents Conference that plans should be abandoned and letter to Mr. Pett in appreciation for services to committee Express: Cash letters to be sent by, instead of by mail, copies of correspondence between FRBank of Kansas City and a Post Office Inspector Ruling of Second Assistant Postmaster General that there is no objection to sending by express if not accompanied by letter Rates on shipments of currency, refusal of American Railway Express Company to reduce 12/2 481 10/26 365 11/12 412 9/15 241 uvir Federal Advisory Council: Glass-Steagall Bill, resolution asking Congress to extend provisions of Sec. 10(b) and Sec. 3 Consideration of question made special order for meeting on Dec. 14 Secretary to prepare and submit letters to Banking and Currency Committees of Senate and House recommending extension for one year Meeting to be held in Washington on Sept. 20, list of topics requested Meeting on Nov. 18, request for topics for discussion Press statement given out after visit at White House in 1929, not to be included in material furnished Mr. French Strother Federal Home Loan Bank Act, interpretation of three year limitation on issuance of national bank notes under, to be referred to Attorney General Representatives of FRBoard to met with Attorney General, meeting arranged by Dr. Miller Opinion of Attorney General to be published in FRBulletin Federal Intermediate Credit Banks: Houston, permission to FRBank of Dallas to discount paper offered by Discount of additional eligible paper approved Discount of additional eligible paper approved Rediscount of paper of Regional Agricultural Credit Corporations: (See Regional Agricultural Credit Corporations) Spokane, Wash., loans made to Eugene Fruit Growers Association, permission to United States National Bank, Eugene, Ore., to act as trustee in connection with FRAct, amendments to: (See Legislation) FRAgents: Assistant: Albertson, Ward, reappointed at FRBank of Atlanta Anderson, J. B., reappointed at FRBank of Cleveland Bailey, F. M., reappointed at FRBank of Minneapolis Bailey, L. h., reappointed Acting at FRBank of St. Louis 12/5 488 12/12 524 104 532 8/12 10/26 156 367 9/2 205 6/10 146 8/12 8/19 163 172 8/3 11/16 12/9 102 419 513 8/9 132 12/20 556 12/30 596 12/20 556 12/20 556 29 Pages FRAgents: (Continued) Assistant: (Continued) Diercks, W. R., appointed to succeed Mr. Recknagel, 12/27 583 referred to Mr. Paulger for recommendation Dillistin, William H., reappointed at FRBank of New York 12/20 556 Downs, Herbert S., reappointed at FRBank of New York 100 556 Evans, W. J., reappointed at FRBank of Dallas for 1933 12/20 557 (See also FRBank of Dallas, Staff) Fletcher, W. H., reappointed at FRBank of Cleveland 12/30 596 Fry, J. G., reappointed at FRBank of Richmond for 1933 12/20 556 12/20 556 Gettemy, Charles F., reappointed at FRBank of Boston Hall, C. C., reappointed at FRBank of Dallas for 1933 12/20 557 Hazzard, L. S., reappointed Alternate Acting at Helena 12/20 556 Branch Heinecke, Fred, reappointed Alternate Acting at Helena 100 556 Branch 12/20 556 Hibbard, A. T., reappointed Acting at Helena Branch Hill, Ernest C., reappointed at FRBank of Philadelphia 12/20 556 12/20 556 Honeycutt, R. L., reappointed Acting at Charlotte Branch Johnson, R. G., temporary reappointment as Acting at 12/30 596 Cincinnati Branch 12/20 556 Maguire, F. P., reappointed Acting at FRBank of St. Louis 12/20 557 McAdams, A. g.., reappointed at FRBank of Kansas City 12/20 556 Mosher, C. L., reappointed at FRBank of Minneapolis Nolte, W. H., temporary reappointment as Acting at 12/30 596 Pittsburgh Branch Post, Arthur E., reappointed at FRBank of Philadelphia 100 556 Powell, Oliver S., reappointed to act as Alternate for FRAgent and Assistant FRAgents at FRBank of 12/20 556 Minneapolis Prugh, George A., reappointed at FRBank of Chicago 124/20 556 12/5 487 Recknagel, W. G., resignation at Detroit Branch Charge of participation in shortages in accounts of 12/5 487 two employees being investigated 12/20 556 Rehfuss, J. Frank, reappointed at FRBank of Philadelphia Rhodes, H. H., reappointed Acting at FRBank of Kansas 12/20 557 City for 1933 8,4 loi Roelse, H. V., designated Acting for balance of year 8,/19 165 Bond of 12/20 557 Sargent, S. G., reappointed at FRBank of San Francisco Schelling, Carl, reappointed at FRBank of Chicago to act for FRAgent in receipt and delivery of FRnotes 12/20 556 100 556 Schutz, Henry, reappointed Acting at Baltimore Branch 124/20 556 Shepherd, R. L., reappointed Acting at FRBank of Richmond 12/20 556 Stewart, C. M., reappointed at FRBank of St. Louis 12/20 557 Wheeler, O. P., reappointed at FRBank of San Francisco 12/20 556 Young, C. Sop reappointed at FRBank of Chicago for 1933 Austin, Richard L., redesignated at FRBank of Philadelphia 12/8 507 Present at meeting of FRBoard to discuss organization of Main Line Trust Co., Ardmore, Pa., and holding of stock by Pennsylvania Company for 12/19 546 Insurances on Lives and Granting Annuities Case, J. H., redesignated at FRBank of New York 12/8 506 Curtiss, Frederic H., redesignated at FRBank of boston 12/8 506 30 Pages FRAgents: (Continued) DeCamp, George: (See FRBank of Cleveland, Staff) Designations for 1933, made special order of business for meeting on date to be fixed by Governor 103 457 Hoxton, W. A., redesignated FRAgent at FRBank of Richmond 10 507 McClure, M. L., redesignated FRAgent at FRBank of Kansas City 12/8 509 Mitchell, John R.: Bond of 10/11 320 Leave for ten days or two weeks approved 8/3 100 Redesignated at FRBank of Minneapolis for 1933 12/8 509 Newton, Isaac B., redesignated at FRBank of San Francisco 12/8 510 Newton, Oscar, redesignated FRBank of Atlanta for 1933 12/8 507 Stevens, Eugene M., redesignated at FRBank of Chicago 12/8 508 Walsh, C. C., redesignated at FRBank of Dallas 12/8 509 Wood, John S., FRBank of St. Louis: Leave of absence from Sept. 22 to 30 approved 9/15 227 Redesignated for 1933 12/8 508 FRBank of Atlanta: Attorneys fees in connection with indebtedness of L. A. Boyd and C. E. Dorsey, payment authorized 9/15 238 Bankers blanket bond, reply to Deputy Governor Johns on custody of 11/2 385 Charge offs authorized in connection with closing of books at end of 1932 12/23 577 Checks and drafts received from collectors of internal revenue, etc., and drawn on nonmember banks, request for Treasury ruling on deduction of two cent tax 7/7 14 Circular of FRBoard on discounts to individuals, corporations, etc., reissued as circular of FRBank 8/12 160 Custody of subsidiary silver and minor coin for account of Treasurer of United States to be held jointly by FRBank and FRAgent 9/15 238 Directors: (See Directors) Rates: (See Rates) Salaries of employees, decrease in aggregate voted by directors, plan to be considered when adjustments are presented 12/14 529 Shofner, Howard B., Attorney, payment of fee for services approved 12/15 538 Staff: Albertson, Ward, reappointed Assistant FRAgent for 1933 100 556 Bell, M. W., appointed member of committee to arrange for exhibit at Chicago Worlds Fair 8/24 187 Newton, Oscar, redesignated FRAgent for 1933 12/8 507 Stook: (See Stook) Visit of Governor Meyer to, report on 12/5 490 FRBank of Boston: Charge offs authorized in connection with closing of books at end of 1932 12/23 577 Directors: (See Directors) Examination report of, and FRAgent to advise FRBoard on action taken on criticized practices 9/15 242 Expenses of Banking and Industrial Committee of District paid by 9/21 260 Personnel classification plan, change creating "Custodian for Reconstruction Finance Corporation Department" with new positions 8/24 183 31 Pages FRBank of Boston: (Continued) Rates: (See Rates) Staff: Curtiss, Frederic H., redesignated FRAgent for 1933 Employees detailed to assist in examination of FRBank of New York, expenses ordered paid Gettemy, Charles F., appointed member of committee to arrange for exhibit at Chicago World Fair Reappointed Assistant FRAgent for 1933 Stock: (See Stock) Stockholders meeting, reimbursement of member banks for travel expenses of one representative Survey on extent of demand for loans under recent amendment to Sec. 13 of FRAct, reply that continuing weekly surveys are desired FRBank of Chicago: Banking and Industrial Committee of District, expenses to be met and employees assigned by FRBank Charge offs authorized in connection with closing of books at end of 1932 Directors: (See Directors) Examination, expenses of examiners detailed by FRBank of Cleveland to assist in, reimbursement approved Interdistrict time schedule, changes in time from Chicago to San Francisco and Los Angeles Obligations of United States as security for FRnotes, authority to exceed margin fixed for limited time during emergency Rates: (See Rates) Reserve deficiencies of banks of shorter duration than six consecutive months need not be reported unless circumstances warrant Sale of 20,000,000 of Government securities purchased during recent banking disturbance, effect of Report from FRBank of New York of request from FRBank of Chicago to purchase $20,000,000 of securities for its account Share-the-work plan involving reductions in salaries and additional temporary employees approved Staff: Anderson, Ernest h., appointment and salary as assistant examiner Blair, John H., to resign as Deputy Governor because of ill health Pett, H. G., appointment as chairman of committee to arrange for exhibit at Chicago World Fair Letter of appreciation for services in developing plan, and committee abandoned Pitman, Carol L., designation and salary as examiner approved Prugh, George A., reappointed Assistant FRAgent for 1933 Schaller, George J., proposed appointment as Deputy Governor, FRBoard inclined to approve salary but objection raised as to holding of stock in member bank 12/8 8/10 506 138 8/24 187 12/20 556 10/6 279 8/3 112 10/11 322 1g/23 577 11/12 409 11/2 384 7/1 6 11/21 439 9/7 221 9/8 225 1Z/27 583 10/6 278 12/27 585 8/24 187 12/2 481 8/12 12/20 155 556 12/27 585 32 Pages FRBank of Chicago: (Continued) Staff: (Continued) Schaller, George J.: (Continued) Advice from Governor :cDougal that Jr.l Schaller will sever connection with national bank and dispose of stock holdings before entering upon duties 12/30 Schelling, Carl, reappointed to act for FRAgent in receipt and delivery of FRnotes 12/20 Stevens, E. M.: Note signed by, and held by Continental National Co., secured by shares of Continental Illinois Bank and Trust Co., which he is not allowed to hold while he is Class C Director 12/19 Redesignated RAgent for 1933 12/8 Thomas, David H., appointment and salary as special collection agent in Failed Banks Division 8/3 Young, C. S., reappointed Assistant FRAgent for 1933 4/20 Stock: (See Stock) Visit of Governor Meyer to, report on 12/5 FRBank of Cleveland: Charge offs authorized in connection with closing of books at end of 1932 12/23 Checks for which actual payment has not been received due to closing of drawee bank, etc., to discontinue practice of requiring protest of 7/1 Directors: (See Directors) Examination report, letter to FRAgent on matters discussed with officers of bank by examiners Letter to FRAgent with further reference to exchange of Canadian currency and other matters 10/6 Personnel classification plan, :r. DeCamp to furnish detailed information on extra employees for work of Banking and Industrial Committee 10/26 Rates: (See Rates) Rediscount of paper of nonmember banks offered through member banks, applications to be considered when received 8/9 Share-the-work plan providing for reductions in salaries and addition of temporary employees approved 12/12 Staff: Anderson, J. B., appointed member of committee to arrange for exhibit at Chicago World Fair 8/24 Reappointed Assistant FRAgent for 1933 12/30 Banking and Industrial Committee of District, letter from r. DeCamp on employment of extra people for work of 11/12 DeCamp, George, to meet with FRBoard to discuss situation in Cleveland and Akron 10/11 Present at meeting of Executivo Committee of FRBoard and discussion of condition. of Guardian Trust Co and other banks, and also extra employees for work of Banking and Industrial Committee 10/26 Examination report of Guardian Trust Co. shows note in assets signed by, requested to come to Washington to meet with Committee on District No. 4 11/23 Report of meeting with Committee 12/5 595 556 551 508 102 556 490 577 5 195 312 344 135 523 187 596 415 327 341 457 490 33 Pages FRBank of Cleveland: (Continued) Staff: (Continued) DeCamp, George: (Continued) Recommendation of committee against reappointment, Mr. Williams to be invited to meet with FRBoard to discuss matter Meeting of Mr. L. B. Williams with FRBoard to discuss indebtedness and reappointment of Report of Governor Meyer on further discussion of reappointment with Mr. Williams, and desire of Mr. Williams for time to consider matter Mr. Williams confined to home by illness and to meet with FRBoard later on appointment of FRAgent Mr. Williams not able to attend meeting this meek but will arrange to be at meeting on Tuesday of the next week Mr. Williams present at meeting of FRBoard and recommendation on reappointment and subsequent resignation of Mr. DeCamp submitted and approved Report from Hr. Williams that Mr. DeCamp had agreed to procedure suggested, then reappointed Class C Director and redesignated FRAgent Employees detailed to assist in examination of FRBank of New York, expenses ordered paid Examiner, appointment of one additional because of increased work favored :to ners detailed to assist in examination of FRBank of Chicago, reimbursement to FRBank to cover expenses Pancher, E. R., Governor, report of examination of Guardian Trust Co., shows note in assets signed by Indebtedness to member banks discussed by Mr. L. B. Williams Again discussed by Mr. Williams and to be fully investigated and presented to Directors for action Fleming, M. J., termination of services with Reconstruction Finance Corporation and full time now given to FRBank Fletcher, W. H., reappointed Assistant FdAgent for 1933 Hauck, Harry K., temporarily appointed Office Manager for Share-the-Work movement, Mr. Decamp to furnish detailed information Salary payments already made approved but future payments still under consideration Salary further considered and action deferred Report of Governor on discussion with Mr. L. B. Williams and further report to be made after discussion with Mr. Williams on Friday Martin, Earle E., temporarily appointed Publicity Manager for Banking and Industrial Committee, Mr. DeCamp to furnish detailed information Salary payments already made approved but future payments still under consideration Salary further considered and approved 12/5 491 12/6 492 12/6 499 12/14 532 104 541 12/20 557 12/30 596 8/10 138 7/12 27 102 409 4/23 457 12/6 493 100 559 12/20 554 12/30 596 10/26 344 102 415 106 423 4/23 456 10/26 344 102 415 106 423 34 Pages FRBank of Cleveland: (Continued) Staff: (Continued) Miller, James M., designation as examiner and salary approved 7/26 Zurlinden, F. J., Deputy Governor, indebtedness to Union Trust Co. discussed with Mr. L. B. Williams lg/6 Again discussed by lir. Williams and to be fully investigated and reported to Directors 1g/20 Stock: (See Stock) Tax on firearms, sales to FRBank not exempt from 10/26 FRBank of Dallas: Bank of Brazil to be put on nailing list for public statements but not to be furnished with copy of bylaws of FRBank 7/1 Charge offs authorized in connection with closing of books at end of 1932 12/23 Directors: (See Directors) Federal Intermediate Credit Bank of Houston, permission to discount paper offered by 6/3 Permission to discount additional paper in amount stated 106 Discount of additional eligible paper approved 1g/9 Operating economies, minutes of meeting of directors showing results of efforts to obtain 9/19 Personnel classification plan, change to provide for new position of "Assistant Custodian" in Reconstruction Finance Corporation Department 12/11 Rates: (See Rates) Share-the-work plan involving reduction in salaries of officers and employees and employment of temporary employees approved 1Z/30 Staff: Chambers, R. S., salary as special representative in Insolvent Banks Department approved 8/19 Clouse, J. Floyd, salary as special representative in Insolvent Banks Department approved 10/26 Edwards, L. C., appointment and salary as special representative in Insolvent Banks Department 102 Evans, W. J.: Appointed member of committee to arrange for exhibit at Chicago Viorld Fair 8/24 Authority to conduct examination of Mexico City office of Chase Bank 10/11 Expenses in connection with ,examination to be paid by FRBank and reimbursement to be made by FRBoard 11/3.o Voucher covering expenses sent to FRBank to be signed and returned and payment to be forwarded when received from Chase Bank 12/14 Reappointed Assistant FRAgent for 1933 12/20 Hall, C. C., reappointed Assistant FRAgent for 1933 12/20 Horton, A., appointment and salary as special representative in Insolvent Banks Departaaent 10/6 McKinney, B. A., Governor, visit to branches of FRBank, member and nonmember banks of district during his vacation in August, report on 9/19 Walsh, C. C., redesignated FRAgent 12/3 75 493 559 361 5 577 102 419 513 248 320 589 167 349 409 187 323 426 528 557 557 279 248 509 35 Pages FRBank of Dallas: (Continued) Staff: (Continued) Webber, G. T., appointment and salary as special representative in Insolvent Banks Department Stock: (See Stock) Transfer of certain counties in Oklahoma to Kansas City District opposed Visit of Governor Meyer to, report on FRBank of Kansas City: Cash letters, sending by express instead of mail, correspondence with Post Office inspector on Ruling of Second Assistant Postmaster General that there is no objection to sending by express if not accompanied by letter Charge offs authorized in connection with closing of books at end of 1932 Directors: (See Directors) Personnel classification plan: Auditing Department, change creating now position in Fiscal Agent-Reconstruction Finance Corporation Department, changes creating new positions in Loans, Rediscounts, and Acceptances Department, change to provide for new position in Progressive penalties for continued deficiencies in reserves, letter on discontinuing assessment of Assessment to be discontinued effective Oct. 1 Action amended to include deficiencies occurring after Sept. 1, 1932 Rates: (See Rates) Salaries of officers and employees, resolution of directors on adjustment of, plan to be submitted to FRBoard Share-the-work plan not favored by directors at present time 10/6 279 10/6 10 312 490 10/26 365 102 412 12/23 577 8/19 167 8/19 166 9/21 259 10/6 10/6 310 310 102 404 12/30 590 100 590 Staff: McAdams, A. M., reappointed Assistant FRAgent for 1933 McClure, M. L., redesignated FRAgent for 1933 Rhodes, H. H., reappointed Acting Assistant FRAgent for 1933 Stock: (See Stock) Transfer of certain counties in Oklahoma from Dallas District opposed Visit of Governor Meyer to, report on l'ItBank of Minneapolis: Bylaws, draft approved with suggested changes and FRBoard to be advised when approved by directors Charge offs authorized in connection with closing of books at end of 1932 Directors: (See Directors) Rates: (See Rates) Rediscounts for individuals, corporations, etc., reply to letter on commitments to renew or extend Staff: Bailey, F. LI., reappointed Assistant FRAgent for 1933 12/20 12/8 557 509 12/20 557 10/6 12/5 312 490 7/7 16 12/23 577 8/9 129 100 556 36 FRBank of Linneapolis: (Continued) Staff: (Continued) Mitchell, John R.: Bond of Leave for ten days or two weeks approved Redesignated FRAgent for 1933 llosher, C. L., reappointed Assistant FRAgent for 1933 Powell, 0. S., appointed member of committee to arrange for exhibit at Chicago World Fair and also on executive cornittee Reappointed to act as alternate for FRAgent and Assistant FRAgents Stock: (See Stock) Tax anticipation notes, request for ruling on purchase direct from issuing municipality Visit of Governor Meyer to, report on FRBank of New York: Account opened in name of Banco Central del Ecuador, Quito, Ecuador Charge offs authorized in connection with closing of hooks at end of 1932 Deposit with Bank for international Settlements, advice of further withdrawal from Directors: (See Directors) Examination of: Expenses of employees of certain FRBanks detailed to assist in, ordered paid Report, letter to FRAgent to bring it to attention of directors Letter from FRAgent on attention being given to comments and suggestions of examiners Holding of securities for Harding Memorial Association and as trustee for bequest of formor Governor Strong questioned Memo of IS. Paulger on effort of FRBnnk to have Harding Memorial Association account removed Fees to Jenkins, ,Jeyo and Hitchcock, Lsqs., for services in prosecution of preferred claims against State Bank of Binghamton and E. C. Brewer Co. Furlough plan for officers and employees with reduction in pay. disapproved Gold to be placed at disposal of Bank of England against amount to be earmarked for FRBank and to be shipped as soon as possible Manner of showing in weekly statement of condition of FRBank, memo of Mr. Smead on Loans to individuals, partnerships, and corporations, report to FRBoard to cover all formal applications not granted and all informal applications not considered acceptable Personnel classification plan: Creation of three new positions of "Typist" approved Credit Department, temporary assignment of employees as occasion requires, approved "Reconstruction 2inance Corporation Section" with fifteen new positions, change creating Pages lq/11 8/3 12/8 12/20 320 100 509 556 8/24 187 12/20 556 102 lg/5 407 490 124/8 505 12/23 577 7/7 9 138 252 384 11/2 384 12/8 506 7/7 12 7/29 96 12/12 525 12/23 575 8/12 159 7/29 89 8/19 1E6 7/7 10 37 Pages FRBank of New York: (Continued) Rates: (See Rates) Schedules covering advances under Sec. 10(b) and loans to individuals, etc., submitted to FRBoard, to submit revised sheets because of notation as collateral security for FRnotes Share-the-work plan outlined to FRBoard by Dr. Burgess Plan submitted and salary payments to temporary employees approved Report of Mr. Burgess on plan and permission to engage additional employees for temporary period Staff: Burgess, W. R., present at meeting of FRBoard to discuss proposed share-the-work plan at FRBank Case, Everett N., appointment and salary in making study of credit situation in district, action deferred Governor Meyer to discuss appointment with Governor Harrison on account of family relationships Case, J. H., redesignated FRAgent for 1933 Cheseldine, R. M., appointment as research statistician on temporary basis and salary approved Davis, Norman P., employment and salary as special investigator in connection with loans under recent amendment to FRAct, Governor Meyer authorized to approve Salary approved Dillistin, William H., reappointed Assistant FRAgent Dawns, Herbert S., appointed member of committee to arrange for exhibit at Chicago World Fair Reappointed Assistant FRAgent for 1933 Ferguson, George W., leave of absence in addition to annual leave approved Furlough plan for officers and employees with reduction in pay, disapproved Healey, James W., designated assistant FRBank examiner Lee, Elliott H., to be employed on temporary basis in handling applications for loans to individuals, etc., salary approved Marsh, Spencer, Jr., designated assistant FRBank examiner Moon, Dr. Harold R., resignation as physician at bank Montmeat, Frank E., designated assistant FRBank examiner Muns, Dr. Ualden E., increase in salary during time of increased attendance at bank until successor to Dr. Moon is appointed Roelse, H. V., designated Acting Assistant FRAgent for balance of year Bond of Rounds, L. R., present at meeting of FRBoard and activities of Committee on Branch, Group, and Chain Banking reviewed Stroeble, Donald S., designated assistant FRBank examiner Stock: (See Stock) 10/6 10/11 307 330 11/12 413 12/6 497 10/11 330 8/19 176 8/24 12/8 190 506 10/6 277 90 7/29 8/4 117 12/20 556 8/24 187 12/20 556 7/26 74 7/29 12/2 96 462 8/3 12/2 100 12/2 101 462 588 462 12/30 588 8/3 8/19 101 165 13/3 12/2 390 462 38 Pages FRBank of Philadelphia: Building, expenses of additions and alterations favored but fee to United Engineers and Constructors for supervision not favored 8/4 Request of :r. Sewall for hearing on proposed plans 8/9 Mr. Sewall present at meeting of Executive Committee and discussion of employment of United Engineers and Constructors 8/12 Mr. Sewall and LI.. Robinson present at meeting of FRBoard and budget for building approved except proposed fee for supervision 8/12 Revised budget with item for clerk of the works in place of fee to United Engineers and Constructors approved 8/19 Charge oft's authorized in connection with closing of books at end of 1932 12/23 Directors: (See Directors) Rates: (bee Rates) Share-the-work plan submitted, Secretary of FRBoard to discuss with FRAgent the inequities in salary deductions 11/12 Report of Secretary on discussion with FRAgent , salary reductions submitted through error and revised plan to be submitted 11/16 Revised plan submitted and to be approved when approved by executive committee of bank 11/23 Plan approved as modified and salary payments to temporary employees approved 12/2 Staff: Algier, Edward L., designated as special assistant to examiners 9/15 Austin, R. L.: Present at meeting of FRBoard to discuss organization of Main Line Trust Co., Ardmore, 1;a., and holding of stock by Pennsylvania Company for Insurances on Lives and Granting Annuities 12/19 Reappointed FRAgent for 1933 12/8 Brittain, James M., Counsel, present at meeting of FRBoard to discuss organization of Main Line Trust Co., Ardmore, Pa., and holding of stock by member bank 12/19 Employees detailed to assist in examination of MBank of New York, expenses ordered paid 8/10 Examiners, designation of eleven employees as special assistants to 1Q/6 Gerstenacker, George L., designated as special assistant to examiners 9/15 Harris, Earle W., designation as special assistant to examiners 103 Lelson, Henry J., designated as special assistant to examiners 9/15 Norris, Geo. Present at meeting of FRBoard to discusn appropriation for proposed addition to bank building 8/4 115 127 148 153 172 577 414 423 456 461 228 546 507 546 138 278 228 OJ 228 115 39 Pages FRBank of Philadelphia: (Continued) Staff: (Continued) Norris, Geo. 14.: (Continued) Present at meeting of FRBoard to discuss indebtedness of banks in Atlantic City to FRBank and acquisition of stock in bank at Ardmore, Pa., 12/15 534 by State member banks, etc. Statement giving views on resolution of Conference of Governors and FRAgents that wages and salaries 12/14 531 should not be reduced at this time Post, Arthur E., appointed member of committee to arrange for exhibit at Chicago World Fair and also on 8/24 187 executive committee 12/20 556 Reappointed Assistant FRAgent for 1933 Rehfusc, J. Frank, reappointed Acting Assistant FRAgent 12/20 556 Stock: (See Stock) FRBank of Richmond: Advance of additional capital to certain concerns in High Point, N. C., to avoid losses on paper acquired 9/7 218 from national bank now in receivership Baker, Newton D., fees for services in court cases: (See Baker) Charge offs authorized in connection with closing of books at 12/23 577 end of 1932 Directors: (See Directors) Examination report, FRAgent to advise as to action on rec30 ommendations and criticisms of examiners 7/12 Attention given by FRBank to comments and suggestions 8/10 139 of examiners Examination reports of member banks, furnishing of confidential sections to Richmond Loan Agency of Reconstruct308 10/6 ion Finance Corporation Lucas v., decision of Circuit Court of Appeals to be published 7/7 14 in FRBulletin Personnel classification plan, change creating "Reconstruction Finance Corporation-Custodian Department" with 12/19 543 ten positions Progressive reserves, deficiencies in continued penalties for 310 10/6 letter on discontinuing assessment of Penalty rate discontinued 10/26 362 Rates: (See Rates) Salaries of officers and employees, plan of directors for ten 7/29 97 per cent reduction, disapproved Committee opposed to horizontal reduction and to recommend 11/12 416 some economies in special cases Plan for saving $73,000 for 1933 to be considered by 12/20 554 FRBoard when details are presented Staff: Employees detailed to assist in examination of FRBank of 8/10 138 New York, expenses ordered paid FrY, J. G., reappointed Assistant FRAgent for 1933 12/20 556 Hoxton, W. W., reappointed FRAgent for 1933 12/8 507 Shepherd, R. L., reappointed Acting Assistant FRAgent 12/20 556 Stock: (See Stock) 40 Pages FRBank of St. Louis: Charge offs authorized in connection with closing of books at end of 1932 12/23 Directors: (See Directors) Personnel classification plan, change creating new positions because of work handled for Reconstruction Finance Corporation 7/19 Change transferring "Clerk" from Transfer-Telegraph Department to Transit Department 9/15 Rates: (See Rates) Salaries of officers and employees, resolution of directors that they can find no reason for altering 12/14 Staff: Bailey, L. H., reappointed Acting Assistant FRAgent 12/20 Maguire, F. P., reappointed Acting Assistant FRAgent 12/20 Stewart, C. M., reappointed Assistant FRAgent for 1933 12/20 Vardaman, J. h., Jr., temporary employment as Manager of Direct Loan Department reported after termination of services 13/12 Wood, John S.: Leave of absence from Sept. 22 to 30 approved 9/15 Redesignated FRAgent for 1933 12/8 Stock: (See Stock) Visit of Governor Meyer to, report on 12/5 FRBank of San Francisco: Banks suspended under local moratorium, method of reporting 11/12 Bylaws of branches, amendment to eliminate requirement that one director reside outside of branch territory suggested 1g/8 Charge offs authorized in connection with closing of books at end of 1932 12/23 Currency depots established at Boise and Twin Falls, Idaho for temporary period 10/6 Directors: (See Directors) Examination report, letter to FRAgent on comments and suggestions made by examiners 8/19 Letter on adjustments and changes as result of comments of examiners 10/6 Interdistrict time schedule, changes in time from Chicago to San Francisco and Los Angeles 13/2 Personnel classification plan, revised plan submitted as Form A approved 9/19 Rates: (See Rates) Share-the-work plan involving reductions in salaries and temporary employment of additional people approved 12/27 Staff: Clerk, Ira,.present at meeting of FRBoard and activities of Committee on Branch, Group, and Chain Banking reviewed 13./3 Newton, Isaac B., reappointed FRAgent for 1933 3.2/8 Sargent, S. G., reappointed Assistant FRAgent for 1933 3.2/20 Chief Examiner for 1933, appointment as 12/23 Snow, G. A., appointed examiner for 1933 12/23 Sonne, H. A., appointed examiner for 1933 12/23 awengel, H. D., appointed examiner for 1933 12/23 577 53 228 530 556 556 556 408 227 508 490 404 504 577 311 173 312 384 251 584 390 510 557 563 563 563 563 41 Pages FRBank of San Francisco: (Continued) Staff: (Continued) Wheeler, O. P., appointed member of committee to arrange for exhibit at Chicago Ubrld Fair Reappointed Assistant FRAgent for 1933 Stock: (See Stock) PRBanks: Charge offs and additions to reserves in connection with closing of books at end of 1932 Dividends, payment of regular semi-annual approved Directors: (See Directors) Earnings and expense reports, revision of instructions for preparation of Examination of, letter to flr. Paulger that at least one be made at each FRBank during 1933 Expenditures for educational and welfare work, donations, membership dues, etc., letter to all Governors on Franchise taxes, no objection to Comptroller General being furnished with account current of receipts from Insurance, group life policies of officers and employees: (See Insurance) Leaves of absence in excess of thirty days on account of sickness, new procedure for reviewing and monthly reports now unnecessary Rates: (See Rates) Salaries of officers and employees, recommendation of FRBank of Richmond for general reduction disapproved Resolution adopted by Conference of FRAgents and Governors opposing reduction at this time Statement of Governor Norris giving views on resolution Stock: (See Stock, FRBank) FRBoard: 8/24 187 557 12/20 12/23 576 576 10/27 373 124/23 103 566 10/26 365 11/2 385 12/5 487 7/29 97 10 12/14 489 531 Account in name of VI. ...:. Imlay as iiscal Agent, certificate of General Accounting Office that it had been 214 9/7 examined and settled in full Budget, transfer of portion to other divisions because of 7/13 38 transfer of employees Division of Examinations, transfer of files and all future work relating to granting of fiduciary powers 7/1 2 to national banks to Gold Settlement Section to operate as usual on Dec. 24 and 31 12/23 561 holidays, Christmas and New Years, offices to be closed on Dec. 12/23 561 24, 25, and 26, and Dec. 31 and Jan. 1 and 2 Members: Hamlin, C. 8.: Amendment to section 13 of FRAct to make paper of individuals.and corporations eligible for discount at FRBanks, discussed with Senator 32 Glass Method of adoption of amendment protested by members of FRBoard, probable rules and regulat40 7/13 ions to be discussed with Governors Attendance at regular meeting of Executive Committee of FRBank of New York 9 7/7 42 FRBoard: (Continued) Members: (Continued) Hamlin, C. S.: (Continued) Attitude toward salary reductions involved in sharethe-work plans at FRBanks Executive Committee, to serve as member during fourth quarter Power of Congress to require all State banks to became members of FRSystem, proposed advice to Senator Glass on Stock acquired in other banking institutions by State member banks, right of FRBoard to refuse permission or approval Visit to FRBanks of Philadelphia, hew York and Boston, advice of expected Magee, W. Executive Committee, to serve as member during fourth quarter Meyer, Eugene: Report on visits at FRBanks of Atlanta, Dallas, Kansas City, Minneapolis, Chicago, and St. Louis Laller, A. C.: Committee on Branch, Group, and Chain Banking, motion that additional expense is not justified and that committee be discharged Policy in granting permits under Clayton Apt, written statemnnt on Requested to advise President of the United States of the Board's disapproval of proposed amendment to FRAct to make paper of individuals, and corporations eligible for discount at FRBanks Report of Mr. Miller on conversation with President, method of adoption of amendment protested by FRBoard (See also Legislation) Statement explaining vote on application of George F. Getz to serve interlocking directorates Quarters, Shoreham Building, amount of space calculated and verified and monthly rental approved Rulings: (See Rulings) Rulings of Comptroller General on questions arising under recent Economy Act, memo of Counsel on effect Staff: (See Staff of FRBoard) Statements published during 1928 and 1929 indicating policy toward credit conditions, request of Mr. French Strother for copies of FRBulletin: Amendment to World War Adjusted Compensation Act, with revised Regulation G and regulations of Veterans Administration to be published Branch banking situation in Virginia and ruling on funds held for Collector of Internal Revenue not subject to reserve requirements, publication of Certificates of deposit payable to other banks within thirty days, ruling on classification by member banks as demand deposits, publication of Pages 11712 413 10/6 275 12/6 498 4/3 392 9/21 264 10/6 275 12/5 490 12/12 525 12/9 514 7/12 32 7/13 40 10/5 271 8/9 136 8/10 144 9/2 205 01 193 10/6 309 102 410 43 Pages FRBulletin: (Continued) Copies for 1928 and 1929 to be furnished to ijr. French Strother as indicating the policy of the FRBoard toward credit conditions Lucas V. FRBank of Richmond, decision of Circuit Court of Appeals to be published in National bank notes issued under provisions of Federal Home Loan Bank Act, opinion of Attorney General to be published in Ruling on eligibility of warehouse receipts securing bankers acceptances issued by Lawrence Warehouse Company for rediscount, letter to FRAgents on publication of State bank examiners to receive free of charge during 1933 if they desire it Federal Reserve Life Insurance Co. of Kansas City, reply to F. G. Buckstaff that it is not a member of FRSystem PRnotes: Audit of reserve stock of incomplete held by Bureau of Engraving and Printing, Kenneth R. Iverson designated to represent FRBoard Collateral securing, letter to Mr. Douglas with letter to Committee on Banking and Currency of Senate on 3.547, to amend sec. 16 of FRAct Cost of printing, ruling of Comptroller General of the United States that reduction cannot be made because of savings under Economy Act Previous decision affirmed, letter to FRBanks that cost for fiscal year 1933 will be at rate of $90.50 per thousand sheets Margin fixed for FRBank of Chicago in pledging obligations of the United States as security for, authority to exceed margin for limited time during emergency Margin fixed for pledging Government securities as collateral for exceeded and Mr. Smead to suggest to Mr. Burgess that FRBank of New York purchase securities from other FRBanks Plan opposed by Mr. Burgess and no action considered necessary at present Paper securing loans to individuals,etc., as collateral security for, revised schedules to be submitted by FRBank of New York because of notations Fiduciary powers: American National Bank, Beaumont, Texas, certificate to exercise trust powers granted to constituent national banks American National Bank of Klamath Falls, Ore., advice that State Superintendent of Banks had terminated exercise of American National Bank, St. Joseph, Mo., application for supplemental powers approved a/2 205 7/7 14 8/19 172 10/6 307 106 420 109 545 Z/1 3 8/24 188 8/51 199 a/21 261 7/1 6 10/27 370 11/2 386 1,0/6 307 7/19 53 a/7 216 8/9 130 44 Pages Fiduciary powers: (Continued) American National Bank and Trust Co., Eau Claire, Wis., application approved, effective when authorized to commence business 4/2 Anglo California National Bank of San Francisco, Calif., certificate of right to exercise under new title 8/24 Authority of trust officer of national bank to withdraw securities pledged with trust department end substitute other securities, etc., request of Minneapolis attorneys for ruling 8/31 Carthage National Exchange Bank, Carthage, N. Y., no action on application for full powers until examination shows improved condition 7/29 Reply to request of Mr. H. E. Machold that FRBoard expedite action on application and letter to FRAgent on advice to applicants of status of applications 1Q/6 Action again deferred and to be considered when unsatisfactory conditions are corrected 1g/14 City National Bank, Lansing, Mich., certificate of surrender of, approved 7/12 City National Bank and Trust Co., Chicago, Ill., application approved effective when authorized to commence business 1(1/5 City National Bank and Trust Co., Oklahoma City, Okla., application for supplementary powers approved 13/3 Commercial National Bank in Shreveport, La., application approved with special conditions 1g/23 Continental-Illinois National Bank and Trust Co., Chicago, Ill., application after conversion from State member bank, action deferred until after examination to be participated in by examiners of FRBoard 10/6 Examination report considered and application approved upon conversion 103 Exchange National Bank, Columbia, Mo., application for supplemental powers approved 4/10 Farmers National Bank, Glasgow, Ky., action on application for supplemental powers to await next report of examination, now exercising certain powers without authority 8/12 Letter to FRAgent on application and on proposed plan to organize new bank to take over present bank 11/18 Files and future work relating to granting to national banks, transfer to Division of Examinations 7/1 First and Merchants National Bank, Radford, Va., certificate of authority to exercise powers granted to constituent national banks 8/3 First Blair County National Bank, Tyrone, Pa., certificate of authority to exercise powers granted to constituent national banks 11/2 First City National Bank, Floresville, Texas, certificate of authority to exercise powers granted to constituent bank 1g/2 First National Bank in Bartlesville, Okla., application for supplemental powers 8/12 Action on application for additional powers deferred 10/6 376 186 198 93 297 528 29 265 109 567 272 336 139 158 428 2 110 377 465 158 295 45 Pages Fiduciary powers: (Continued) First National Bank in Bartlesville, Okla.: (Continued) Application for general power approved 503 12/8 Criticism contained in examination report with regard to investment of trust funds, referred to Comptroller of Currency 12/8 504 First National Bank-Detroit, Detroit, Mich., certificate of authority to exercise powers previously grated to First 'iiayne National Bank 10/26 354 First National Bank of Eugene, Ore., request for permission to act as depositary for bondholders committees 132 8/9 . Application for supplementary powers approved 11/21 438 First National Bank, Kemmerer, Wyo., application for supplementary powers approved 8/3 108 First National Bank of Kenmore, N. Y., certificate of sur133 render of right to exercise 6/9 First National Bank in Mamaroneck, L. Y., application disap8/24 185 proved because of unsatisfactory condition First National Ban application approved / Morganton, N. C.,k,8 107 3 First National Da)* of Neenah, Vj5, application for General 216 fiduciary powers approved 9/7 First National Bank, Ilainfield, IN. J., certificate of authority to exercise powers previously granted to 11/18 429 constituent national banks First National Bank, Port Arthur, Texas, application for supplementary powers approved 67 7/20 First National Bank of Rockville Centre, N. Y., procedure for release of bonds deposited in operation of trust department 09 59 First National Bank of Savanna, Ill., application for supple131 mental powers approved 8/9 First National Bank, Seguin, Texas, application approved 8/19 170 First National Bank, Shreveport, La., application for supplementary powers approved 108 8/3 First National Bank in Sioux City, Iowa, application approved 7/19 60 First National Bank of Spartanburg, S. C., reply to Mr. Brice on securities used as collateral for trust 10/6 funds awaiting investment 296 First National Bank, Woodstown, N. J., application approved 11/23 454 effective upon increase in capital First-Stroudsburg National Bank, Stroudsburg, Pa., certificate to exercise powers granted to constituent national banks 10/6 296 Gloucester National Bank of Gloucester, Mass., action on application for full powers to await report of examination and recommendation of FRAgent 6/3 107 Action again deferred, letter to Comptroller of Currency to make recommendation after another examination 11/18 427 Action on application deferred 12/6 497 Grundy County National 3ank, Morris, Ill., certificate of surrender of 12/12 522 Illinois National Bank and Trust Co., Rookford, Ill., permit will be issued if conversion is effected within sixty days with paid-in capital stated 11/12 401 46 Fiduciary powers: (Continued) Investment of trust funds in certificates of participation in real estate mortgage pools by national banks in Pennsylvania Jefferson Bank and Trust Co., St. Louis, Mo., no objection to exercise of powersgranted to Market Street National Bsrar, Philadelphia, Pa., application for supplemental powers approved Merchants National Bank in Plattsburg, N. Y., condition that capital account be increased within one year not to be insisted upon at present Letter to Acting Comptroller of the Currency for advice as to steps to be taken by his office as result of latest examination of bank Stock not increased as requirement for permission to exercise, letter to Acting Comptroller of Currency on impaired capital Midland National Bank and Trust Co., Minneapolis, Minn., application for supplementary powers approved Morganfield National Bank, Morganfield, Ky., application for supplementary powers approved Newton National Bank, Newton, Iowa, application approved Nyack National Dank and Trust Co., Nyack, N. Y., certificate authorizing exercise of trust powers under new title Pacific State Bank of South Bend, Wash., establishment of trust department approved Peoples National Bank, Parkersburg, W. Va., permission to exercise trusts taken over from other bank, full permission to await next examination Peoples National Bank, Warrensburg, Mo., application approved Planters National Bank in Fredericksburg, Va., approval of application recommended by Comptroller of Currency, letter to FRBank of Richmond to resubmit to executive committee for new recommendation Application approved Rawlins National Bank, Rawlins, 4o., application for supplemental powers approved Recommendations of FRAgents, letter to FRAgent at New York on advice to applicants of status of applications Sixth National Bank, Philadelphia, Pa., certificate of surrender of right to exercise State-National Bark of Peru, Ill., action on application deferred until after next examination Request of Cashier that no further action on application be taken Terre Haute First National Bank, Terre haute, Ind., certificate of authority to exercise powers granted to constituent banks Third National Bank of Rockford, Ill., application for supplemental powers, recommendation of FRBank that action be deferred, FRBoard favors approval Application for general powers approved Union National Bank, Bartlesville, Okla., action on application deferred until after next examination Pages 12/3 501 8/3 109 12/23 566 8/3 107 10/26 353 12/2 470 8/4 119 9,/15 10/6 236 295 7/19 58 7/12 30 7/8 8/9 19 130 7/7 7/19 13 59 0 131 104 297 12/2 465 8/4 119 10 295 12/2 465 8/19 8/24 169 185 09 170 47 Pages Fiduciary powers: (Continued) Union National Bank, Bartlesville, Okla.: (Continued) Application denied because of unsatisfactory condition of bank and inexperience of officers Union National Bank, Cadiz, Ohio, certificate of surrender of right to exercise United States National Bank, Eugene, Ore., permission to act as trustee in connection with loans United States National Bank of Johnstown, Pa., application made in contemplation of absorption of three State institutions, action deferred Approval of application not reconmended by FRAgent United States National Bank of McMinnville, Ore., advice that State Superintendent of Banks had terminated exercise of Vancouver National Bank of Vancouver, Wash., application for supplementary powers not approved Finance companies: Automobile, suggestion that law be amended to make paper eligible for rediscount Rediscount of paper of, reply to Mr. Woodward on statement released by National Association of Finance Companies on eligibility of Financial statement, question of requiring in connection with eligibility of paper offered for rediscount by the Van Camp Milk Co., Inc. Fireamis. sales to FRBank of Cleveland not exempt from tax on Foreicn banking corporations: Chase Bank: Agency in Chinatown section of New York City, establishment approved under certain conditions Mexico City Office, letter to Mr. W. J. Evans with authority to conduct examination Expenses of Mr. Evans to be paid by FRBank and to be reimbursed by FRBoard Voucher covering expenses sent to FRBank to be signed and returned and payment to be forwarded when received from Chase Bank Paris Office, letter to Mr. Karl E. Prickett on examination of French American Banking Corporation: Duran, Paul, elected director to replace Maurice Silvester International Acceptance Bank, Inc., examination in connection with application of Manhattan Co. for membership Mr. James P. Warburg, present at meeting of Board to discuss application for membership Report of Mr. Paulger on examination now in progress Organized under Sec. 25(a) of FRAct, inquiry of H. J. Watchorn if they can do both commercial and investment banking abroad Foreign banks: Austrian National Bank, renewal of participation in credit by FRBank of New York Advice of renewal of credit by all participants 12/23 568 10/26 353 8,79 132 9/21 12/8 258 501 9/7 216 7/7 13 12/30 594 9/15 239 7/26 10/26 79 369 12/15 539 10/11 325 11/18 426 12/14 528 10,/11 323 7/19 61 11/3 392 11/18 11/21 432 442 7/1 02 7/13 5 25 37 48 Pages Foreign banks: (Continued) Austrian National Bank: (Continued) Credit again to be renewed for not over three months on same terms and conditions 10/11 Banco Central del Ecuador, Quito, Ecuador, account opened by FRBank of New York for 124/8 Bank of Brazil, to be put on mailing list for public statements of FRBank of Dallas but not to be furnished with copy of bylaws 7/1 Bank of England: Depreciation of sterling balance carried by FRBanks with, authority to each FRBank to charge off its share 12/23 Norman, Governor, visit to this country, reference of :r. Hamlin to reported conferences with officials of FRSystem 9/15 Request that FRBank of New York place 95,550,000 in gold at their disposal against equivalent amount to be earmarked for FRBank and to be shipped as soon as possible 12112 latnner of showing in weekly statement of condition of FRBanks, memo of Z.r. &mead on 1g/23 German Reichsbank, renewal of participation of FRBank of New York in credit for not over three months 8/31 Renawal of participation in credit to, letter of Governor Harrison on request for reduction in interest rate and on partial repayment 12/2 Telegram from A.:r. Crane on conditions of renewal 104 Hungarian National Bank, renewal of participation in credit by FRBank of New York 7/12 Renewal of credit agreed to by all participants except National Bank of Roumania 7/26 Renewal of credit agreed to by National Bank of Roumania and credit renewed in full 8/24 Credit again to be renewed for not over three months on same terms and conditions 10/11 National Bank of Roumania, renewal of credit to Hungarian National Bank agreed to by all participants except 7/26 Renewal of credit agreed to by National Bank of Roumania and credit renewed in full 8/24 Foreign branches: (See Branch banks, foreign) Forms: Bonds for use by FRAgents and Assistants, revision of 10/27 Earnings and dividends reports of State member banks, revised form and letter of instructions approved 12/14 105, condition report, revision approved 12/2 Letter to FRAgents transmitting revised definitions and supplemental schedules 12/23 2129, earnings and dividends reports of national banks to be revised by Comptroller of the Currency 12/14 St. 6170, report of member banks borrowing 80 per cent or more of time, revision of 9/15 Fox, Mrs. Charles P., 1Jontgomery County, Pa., file of papers returned with advice that they relate to administration of estates and are in jurisdiction of courts of Pennsylvania 9/19 325 505 5 577 213 525 575 198 473 531 25 76 186 324 76 186 373 529 482 575 529 239 252 49 Pages Furloughs, administrative, reply to Mr. Babcock for information on granting of 1g/23 574 9/7 214 12/6 498 10/26 362 12/15 540 12/12 525 12/23 575 8/19 174 tiG11 General Accounting Office, certificate that account of W. M. Imlay as Fiscal Agent had been examined and settled in full Glass Bill: (See Legislation) Glass, Senator Carter: Unified conmercial banking system, constitutional method of bringing about, prepared at request of Gold: Cuban gold coin, proposed exchange by Havana Agency with Cuban Treasury of currency for Contract betmen FRBank of Atlanta and Republic of Cuba for credit in New York City, and coin to be repurchased by Cuba FRBank of New York requested to place at disposal of Bank of England against equivalent amount to be earmarked for FRBank and to be shipped as soon as possible Manner of showing in weekly statement of condition of FRBanks, memo of Mr. Smead on Government obligations: Maturity of notes of member banks offered through another member bank and secured by, interpretation of ruling on , Purchase of: (See Open market operations) rvernors Conferences: (See Conferences, Governors) urading service, commercial, of Bureau of Agricultural Economics, extension to include canned fruits and vegetables Circular letter to Chairmen and Governors of all FRBanks on grading and inspection work conducted by Bureau Great Britain: (See Foreign banks, Bank of England) Greenough, Charles W., inquiry on rediscount by FRBanks of municipal warrants with no definite maturity date 10/6 305 12/2 480 12/30 593 nun liainer, Henry, letter on charge imposed by State Trust Company- of North Tonawanda, N. Y., for collection of 102 410 Postal money order naid, Paul L., request for ruling on eligibility for rediscount of notes given in payment for premiums for in12/23 574 surance Earding Memorial Association, propriety of holding securities by 384 11/2 FRBank of New York for have to FRBank of Memorandum of Mr. Paulger on efforts 12/8 506 account removed Hearings: First State Bank, Lorenzo, Texas, on forfeiture of membership 68 7/20 because of continued deficient reserves 50 Pages Hearings: (Continued) First State Bank, Lorenzo, Texas: (Continued) Date of hearing changed and revised letters forwarded 8/3 Report of appearance of representative of bank before FRAgent at Dallas, action deferred and bank to have opportunity to comply with conditions 10/6 Helriegel, Robert H., application for position as examiner, reply to letter from Senator James J. Davis on 10 High Point, I. C., advance of additional capital to certain concerns in, by FRBank of Richmond to avoid losses on paper acquired from bank now in receivership 9,/7 Holidays: Christmas and New Years, offices of FRBoard to be closed on Dec. 24, 25, 26, and 31 and Jan. 1 and 2 12/23 105 294 461 218 561 "I" Institute of Scrap Iron and Steel, Inc., letter from Director General on commodities considered merchantable and discountable by FRBoard Insurance: Group life at FRBanks on lives of officers or employees retired because of disability or incapacity, revision of procedure to be referred to committee of Governors Conference Reply to letter from Governor Calkins that matter has been submitted to Insurance Committee Premiums, notes given in payment for, ruling that they are eligible for rediscount Self, at FRBanks, authority to certain banks to set up and make additions to Interlocking directorates: Applications approved: Adams, Norman I. Bank of America National Trust and Savings Association and the Bank of America, both of San Francisco, Calif., permission to officers and employees of each bank to serve the other bank Berry, VI. H. Borden, John C. Calder, E. C., subject to reconsideration Cooper, Henry E. Daly, A. J. Dawes, Henry M. de Bretteville, A. Failey, Robert B. Getz, George F., subject to reconsideration Gribbel, John, subject to reconsideration Hale, P. C. Hazlewood, Craig B. Jones, E. S. Machen, H. L. Miller, Laurence M. Odin, O. H. 10/6 302 7/7 15 7/20 69 12/23 574 12/23 577 9/15 244 12/2 7/26 106 10/6 9/15 7/7 4/2 102 7/19 10/5 10/26 12/2 10/6 10/11 10/26 1g/2 10/11 475 87 424 286 244 17 388 417 66 270 360 475 316 329 368 475 328 51 Pages Interlocking directorates: (Continued) Applications approved: (Continued) Owen, Vernon G. Perkins, Thomas N. McCumber, Sidney S., subject to further consideration Meisenhelder, Samuel B. Eoore, Guy 'J. Raspin, I. Smith Ryan, John D. Stephenson, Sam Stone, Charles A. Sweet, C. H. Talbot, W. Lear Warner, Rawleigh Aashburn, W. O. Wheeler, Harry A. 'Alder, A. B. Wilkin, H. R. Wright, A. M. Zander, F. F. Applications disapproved: Boettcher, C. K. Miscellaneous: Bodine, William W., request for more detailed information on application Dorrance, Arthur C., letter to FRAgent for more detailed information on application Ford, George R., new permit not necessary but relations to be severed when conditions in Toledo permit Fuller, Lynn G., letter to FRAgent on unauthorized service of two institutions Fuller, Rathburn, new permit not necessary but relations to be severed when conditions in Toledo permit Keller, Albert N., action deferred until natter of holding of stock of Mercantile Commerce National Bank by Mercantile Commerce Bank and Trust Co. is settled Machold, H. Edmund, letter to FRAgent for full information as to facts on application MacNichol, G. P., Jr., new permit not necessary but relations to be severed when conditions in Toledo permit Mather, Gordon N., new permit not necessary but relations to be severed when conditions in Toledo permit Reynolds, H. S., new permit not necessary but relations to be severed when conditions in Toledo permit Tydings, E., criticism of First National Bank of Aberdeen, Md., for not having copy of permit in files, letter to Acting Comptroller of Currency on practice of FRBoard Vanderbilt, Cornelius, new permit not necessary because banks covered by previous permit Policy and procedure in granting permits under Clayton Aot, topic for discussion at Conference of FRAgents 12,/2 8/3 10/27 10/6 10/6 8/12 9/21 12/2 12/2 7/12 8/3 13/12 9/15 1Q/11 10/26 12/30 9/21 1Q/11 484 114 374 315 316 163 264 483 483 35 114 406 245 329 368 599 264 329 10/27 371 12/2 476 11/2 378 12/30 592 13/2 378 12/30 592 10/27 372 1312 377 12/30 592 12/30 592 12/30 592 102 407 10/26 360 9/21 263 Pages 52 Interlocking directorates: (Continued) Policy and procedure: (Continued) Letter to Ur. Curtiss on discussion by Conference of Counsel of FRBanks Copies of memoranda of Counsel on administration of Clayton Act sent to all FRAgents Policy in granting permits, work to be done by Counsel's Office in assembling information, made special order for meeting on Dec. 9 Memo of Counsel presented and discussed and written statement presented by Mr. Miller, action deferred 10/26 366 4/2 386 12/2 460 12,/9 514 Jenkins, Deyo and Hitchcock, Esqs., payment of fees for services in prosecution of preferred claims against State Bank of Binghamton and E. C. Brewer Co. 7/7 12 HIV Kalamazoo Bancshares, Inc., letter to FRAgent at Chicago on assistance to Bank of Kalamazoo which it owns 100 592 tt Lit Lausanne Conference: (See Resolutions) Lawrence liarehouse Company: Warehouse receipts covering lumber issued by, as security for loans to New Mexico Lumber and Timber Co. Warehouse receipts securing bankers acceptances drawn to finance storage of readily marketable staples, not eligible for rediscount under conditions stated L. C. Smith and Corona Typewriters, Inc., advance by FRBank of New York under recent amendment to FRAct approved League of Nations, to convoke conference on Monetary and Economic Questions, Dr. Goldenweiser to represent FRBoard on informal working coLunittee Leather, statistics of the Tanners Council, request for information on Leaves of absence in excess of thirty days on account of sickness at FRBanks, new procedure for reviewing by FRBoard and monthly reports now unnecessary Legislation: Adjusted service certificates, rediscount of notes secured by, Regulation G revised to comply with recent amendment to law Publication in FRBulletin authorized Congressional service of Corporation Trust Co., subscription approved Economy Act of June 30, 1932: FRBoard, memo of Assistant Counsel on application of provisions to Effect of rulings of Comptroller General on FRBoard, memo of Counsel on 11/2 383 lp/6 305 12/27 581 8/10 145 11/22 451 12/5 487 8/10 142 8/31 193 1g/2 481 7/19 63 8/10 144 53 Pages Legislation: (Continued) Economy Act of June 30, 1932: (Continued) FRnotes, ruling of Comptroller General that reduction in cost of printing cannot be made because of savings under Previous decision affirmed, letter to FRBanks on Emergency Relief and Construction Act, letter from President of the United States that FRBanks should at once undertake direct rediscounts under authority provided in Reply to President presented and approved Federal Home Loan Bank Act, interpretation of three year limitation on issuance of national bank notes under, to be referred to Attorney General Representatives of FRBoard to meet with Attorney General, meeting arranged by Dr. Miller Opinion of Attorney General to be published in FRBulletin Glass Bill, letters to Governors and FRAgents for suggestions on provisions of Glass-Steagall Bill, resolution of Federal Advisory Council asking Congress to extend provisions of Consideration of question made special order for meeting on Dec. 14 Secretary to prepare and submit letters to Banking and Currency Committees of Senate and House recommending extension for one year Ii. R. 9642, proposed amendment to Sec. 13 of FRAct to make paper of individuals and corporations eligible for discount at FRBanks, opposed by FRBoard and Er. Miller to express disapproval to President Report of Mr. Miller on conversation with President, method of adoption protested by members of FRBoard, probable rules and regulations to be discussed with Governors Analysis of amendment and preliminary draft of regulation submitted by Counsel, Er. Hamlin to communicate with Mr. Glass on change in amendment Amendment discussed by Governor with Open Market Policy Conference Amendment discussed at Conference of Governors FRBanks to make survey of demand for loans which would be made under this amendment to FRAct Circular letter to FRBanks on reauirements of law and procedure under amendment to FRAct, approved as amended S• 546, to amend Sec. 13 of FRAct on advances to member banks on promissory notes, letter to Mr. Douglas on S. 547, to amend Sec. 16 of FRAct on collateral securing FRnotes, letter to Mr. Douglas with letter to Committee on Banking and Currency of Senate S. 4779, providing for use of silver as security for FRnotes, opposed by FRBoard Unified system of banking under national supervision, opinion of General Counsel on constitutionality of plan providing for 8/31 9/21 199 261 7/26 8/10 80 141 8/10 146 8/12 8/19 163 172 10.2 411 12,/5 488 102 524 12/14 532 74/12 32 7/13 40 7/13 42 7/14 7/15 45 49 7/19 64 7/26 81-86 8/24 188 8/24 188 7/26 78 12/6 498 54 Pages Loans: Advance of additional capital to certain concerns in High Point, E. C., by FRBank of Richmond to avoid losses on paper acquired from bank now in receivership 0 Advances under Secs. 10(a) and 10(b) of FRAct, information requested by Senator Walsh for use in speech 7/19 Advances under Sec. 10(b) of FRAct: Aggregate of all advances made should not exceed amounts authorized 9/15 American Bank and Trust Co., New Orleans, La., extension in reduced amount approved 10/11 Continuance of advance in reduced amount approved 12/12 Atlanta National Bank, Atlanta, N. Y., application approved 7/19 Application for additional advance approved 8/3 Renewal of advance approved 10/13 Application for additional advance approved 10/26 Renewal of advance approved 4/2 Application for additional advance approved 4/22 Bank of Depaw, N. Y., application approved 7/19 New advance approved, to cover existing advance and addition 10/6 Renewal of advance approved 124/23 Citizens National Bank, New Brunswick, N. J., application approved 12/30 Commercial National Bank, Philadelphia, Pa., application approved 12/2 Cornwall National Bank, Cornwall, N. Y., application approved 7/12 Renewal in reduced amount approved 10/11 Farmers National Bank, Theresa, N. Y., renewal of advance approved 8/24 Renewal of advance for ninety days approved 4/18 First National Bank, Altamont, N. Y., application approved 12/20 First National Bank in Avon-by-the-Sea, N. J., application approved 12/27 First National Bank of Bolivar, N. Y., renewal of advance approved 8/31 Renewal of advance approved 12/2 First National Bank, Carteret, N. J., application approved 7/7 First National Bank of Commerce, Tarpon Springs, Fla., application approved 10/26 First National Bank, Croton-on-Hudson, N. Y., application approved 10/6 First National Bank, Darby, Pa., application approved 12/19 First National Bank, Fort Myers, Fla., application approved 10/6 First National Bank, Lindenhurst, N. Y., application approved 106 National Bank in Mamaroneck, N. Y., renewal of First advance approved 8/24 Application for additional advance approved 10/26 Renewal of advances in reduced amount approved 4/21 Additional advance approved 12/23 First National Bank, Ogden, Utah, application approved 0 218 63 231 318 518 54 103 334 346 375 451 54 282 564 588 464 26 317 181 425 553 580 195 463 11 347 284 542 284 418 181 346 437 563 213 55 Pages Loans: (Continued) Advances under Sec. 10(b) of FRAct: (Continued) First National Bank, Salt Lake City, Utah, application approved First National Bank and Trust Co. in Orlando, Fla., renewal approved Franklin 17ashington Trust Co., Newark, N. J., renewal of advance in reduced amount approved Renewal of advance in reduced amount and additional advance approved Gavitt National Bank, Lyons, Y. Y., renewal in reduced amount approved Georgia Savings Bank and Trust Co., of Atlanta, Ga., other collateral to be substituted for bonds of corporation affiliated with foreign corporation Advance to be continued without demand for payment Renewal of advance for sixty days approved Additional advance approved Glass-Steagall Bill, resolution asking Congress to extend provisions of Sec. 10(b) and Sec. 3 Consideration of question made special order for meeting on Dec. 14 Secretary to prepare and submit letters to Banking and Currency Committees.of Senate and House recommending extension for one year Haledon National Bank, Haledon, N. J., application approved Jefferson Trust Co., Hoboken, N. J., renewal of advance in reduced amount approved Additional advance approved Renewal of advance in reduced amount approved Labor National Bank, Patterson, N. J., application approved Additional advance approved Renewal of advance in reduced amount approved Additional advance approved Renewal of advance in reduced amount approved Larchmont National Bank and Trust Co., Larchmont, N. Y., application approved Lincoln National Bank, Newark, N. J., renewal in reduced amount approved Renewal in reduced amount approved Additional advance approved Merchants National Bank, Mobile, Ala., application approved Amount of advance reduced because of collateral offered Extension of advance for sixty days approved National Bank of Commerce, Lorain, Ohio, renewal for thirty days approved Old National Bank and Union Trust Co., Spokane, Wash., application approved Authority amended to increase amount of advance New advance approved and present advances to be retired 9/7 212 12/23 566 9/7 212 102 518 9/21 255 8/5 9/15 lii 229 498 12/5 103 565 lg/5 488 1g/12 524 1g/14 532 100 587 9/7 211 102 395 lg/5 485 92 7/29 1Q/6 282 11/2 376 464 12/2 12/23 564 5/24 182 9/15 229 102 517 1g/50 587 9/15 230 9/15 12/9 7/7 230 512 11 126 8/9 102 396 102 597 56 Pages Loans: (Continued) Advances under Sec. 10(b) of FRAct: (Continued) Pelham National Bank, Pelham, N. Y., application approved 1Q/26 Additional advance approved ll,/22 Peoples Dank and Trust Co., Passaic, N. J., application approved Z/12 Renewal of advance in reduced amount approved 1Q/11 Peoples National Bank, Newark, N. J., application approved Z/29 Peoples National Bank, Southbridge, Mass., authority extended Z/1 Authority extended to July 29 Z/19 Authority extended to Aug. 12 Z/29 Authority extended to Aug. 26 8/12 Authority extended to Sept. 9 8/31 Authority extended to Sept. 23 9/3 Authority extended for thirty days 10/6 Authority extended for thirty days 1Q/26 Advance to be continued and additional advance authorized 11/23 Perth Amboy National Bank, Perth Amboy, N. J., application approved Z/7 Quincy Trust Co., Quincy, Mass., authority extended Z/1 Authority extended to July 29 Z/19 Authority extended to Aug. 12 Z/29 Authority extended to Aug. 26 8/12 Authority extended to Sept. 9 8/31 Authority extended to Sept. 23 .9/8 Authority amended to not exceed 4)500,000 9/15 Authority extended for thirty days 1Q/6 Advance repaid and authority to make new advance for thirty days 1Q/6 Rahway Trust Co., Rahway, N. J., application approved 8/12 Salt Springs National Bank, Syracuse, N. Y., application approved Z/26 Previous advance liquidated and application for advance for ninety days approved 8/31 New advance in amount of 0.50,000 for ninety days approved 1Q/6 Renewal of advance of 4)50,000 approved 1g/30 Southside National Bank and Trust Co., Newark, N. J., application approved Z/29 Worcester Bank and Trust Co., Worcester, Mass., authority extended 7/1 Authority extended to July 29 Z/19 Authority extended to Aug. 12 Z/29 Erie County Banking Co., Vermilion, Ohio, examination report shows one secured by ten shares of own stock and one in excess of limitations prescribed by State law 1Q/6 Feeder, rediscount rate established by FRBank of Minneapolis at seven per cent until loans are turned over to Regional Agricultural Credit Corporation 9/19 FRBank of Philadelphia, indebtedness of member banks in Atlantic City, N. J., discussed by Governor Norris 105 347 450 26 318 91 2 53 90 154 194 225 280 345 458 10 3 53 90 154 193 224 231 280 281 154 76 194 283 586 91 2 53 90 300 253 534 57 Pages Loans: (Continued) FRBank of Richmond, right to advance additional capital to certain concerns in High Point to avoid losses on paper acquired from bank now in receivership Individuals, partnerships, and corporations: Amendment to FRAct proposed to make paper eligible for discount at FRBanks, opposed by FRBoard, Mr. Miller to express disapproval to President Report of Mr. Miller on conversation with President, method of adoption protested by members of FRBoard, probable rules and regulations to be discussed with Governors Analysis of amendment and preliminary draft of regulation submitted by Counsel, Mr. Hamlin to communicate with Senator Glass on change in amendment Amendment discussed by Governorwith Open Market Policy Conference Amendment discussed at Conference of Governors FRBanks to make survey of demand for loans which would be made under this amendment to FRAct Circular letter to FRBanks on requirements of law and procedure under recent amendment to FRAct Circular of FRBoard reissued by FRBank of Atlanta under their name Empire China Co., letter to Secretary to President on reply to Mr. Boeck of FRBank of Minneapolis, reply on commitments to renew or extend FRBanks should at once undertake direct rediscounts under authority provided in relief bill, letter from President of the United States on Reply to President presented and approved H. T. Cushman Manufacturing Co., North Bennington, Vt., advance approved Information to be included in daily condition telegrams and manner of showing in weekly press statement L. C. Smith and Corona Typewriters, Inc., advance by FRBank of New York approved Mississippi Cotton Seed Products Co., application for direct loans up to limit from FRBanks of St. Louis and Atlanta Paper to be otherwise secured than by endorsement and guaranties, letter to FRBank of New York on Report of FRBank of Boston on extent of demand for Report by FRBank of New York to cover all formal applications not granted and all informal applications not considered acceptable Revised schedules to be submitted by FRBank of Now York because of notation on use as collateral security for FRnotes Scaramelli and Co., Inc., and S. Shuffs Sons, Inc., letter that such loans be otherto FRBank of New vise secured than by endorsement and guaranty 9/7 218 7/12 32 7/13 40 7/13 42 7/14 7/15 45 49 7/19 64 7/26 81-86 8/12 160 9/15 241 8/9 129 7/26 8/10 80 141 11/12 398 8/9 128 12/27 581 9/19 249 10/26 8/3 361 112 8/12 159 10/6 307 10/26 361 58 Loans: (Continued) Individuals, partnerships, and corporations: (Continued) Sessions Clock Co., l'orestville, Conn., advance under Sec. 13 of FRAct as amended, approved Weekly FRBank statement, manner of showing discounts in Lycoming Trust Co., Williamsport, Pa., reserves must be maintained against collateral certificates issued to customers as evidence of amounts paid to company to secure New Mexico Lumber and Timber Co., warehouse receipts covering limiber issued by Lawrence Warehouse Co. as security for United States Treasury to banks, reply to letter from la.. H. R. Straight that figures apply to discounts of FRBanks for member banks Wilmington Trust Co., Wilmington, Del., to officers and employees for purchase of stock of bank, plans for elimination of Location of bank, change contemplated by State Bank of Revere, Minn., to Walnut Grove, Minn. Loughborough, Stuart F., request through Senator Smoot for information on statements made by Mr. McFadden, and reply Lucas v. FRBank of Richmond, decision of Circuit Court of Appeals to be published in FRBulletin Mail, surcharges on registered shipments of, letter to Governors of all FRBanks to consider changes in present practices McFadden, Congressman Louis, no material prepared for answering remarks contained in speech by Member banks: Borrowing for 80 per cent or more of time during twelve month period, revision of Form St. 6170 reporting National banks: (See National banks) State member banks: (See State member banks) Membership in FRSystem: Bank of Manhattan Co., New York City, plan of reorganization including application for membership, FRAgent's department to participate in examination to look into holdings of stock of other banks Application in connection with proposed reorganization of Manhattan Co. and affiliated organizations, conditions discussed with Mr. James P. Warburg Application approved as President and Directors of the Manhattan Co., New York City, upon merger of Bank of Manhattan Trust Co. into Barks County Trust Co., Reading, Pa., action on application deferred pending receipt of report of examination and recommendation of FRAgent Burke State Bank, Burke, S. Dak., application approved Center Moriches Bank, Center Moriches, N. Y., application approved Citizens State Bank of Dalhart, Texas, application approved Pages 102 399 8/9 128 7/19 61 4/2 383 8/3 113 9/21 257 4 12/2 479 7/7 14 9/15 12/2 9/15 11,./3 241 479 239 392 108 432 4/21 442 4/3 7/12 391 30 102 400 10/6 293 59 Pages Membership in FRSystem: (Continued) 129 Eden State Bank, Eiden, Texas, application approved 8/9 Farmers and Merchants Bank, Huron, S. Dak., application 102 .401 approved Farmers and Merchants Bank Co., Smithville, Ohio, application not to be approved and -withdrawal of appli12/2 467 cation suggested to avoid adverse action Farmers Bank of Clinch Valley, Tazewell, Va., application 467 12/2 approvcd Eitension of ten days in time for admission to membership 12130 590 approved 8/19 169 Guaranty-Plaza Trust Co., St. Louis, Mo., application approved Inability of bank to complete condition of membership, 1:r. James and Mr. Pole to carry on discussions with FRAgent and Chief National Bank Examiner 8/21 201 and make recommendations Mr. von Windegger present at Board meeting to discuss condition of membership and condition amended 206 9/2 to provide for guaranty by directors Extension of thirty days in which to complete arrangements 9/15 235 for membership Desire to modify condition on guarantee of directors to 94/21 263 purchase bond depreciation Further amendment to condition No. 3 and form of agreement 10/6 292 to be approved by counsel Lock Haven Trust Co., Lock Haven, Pa., action on application 8/10 139 deferred pending receipt of examination report 102 400 Application approved Manhattan Co.: (See supra Bank of Manhattan Co.) Mortgage loan business, applications of banks engaging in, not 100 597 to be approved Neptune Bank and Trust Co., Neptune, h. J., advised to request that no action be taken on application until 9/15 235 correction of unsatisfactory condition President and Directors of Manhattan Co.: (See supra Bank of Manhattan Co.) Steuben Trust Co., Hornell, N. Y., no further action on appli10/6 291 cation until condition of bank is improved presented and Summit Trust Co., Summit, N. J., application discussed and ownership of controlling interest in mortgage company questioned, no action taken 100 596 at request of president of company 77 7/26 Wahoo State Bank, 'Wahoo, Nebr., application approved h'ereantile banking of institutions control Securities Corporation, in Texas by Mercantile Bank and Trust Company 474 12/2 of Texas through Id • , iaml, Fla., exchange charges made by member banks for cashing outof-town checks of depositors and non-depositors 9/19 250 ichlgan, State member banks in hands of custodians not entitled to vote in election of Class A and B directors 9/19 248 of FRBank of Chicago lississippi Cotton Seed Products Co., applications for direct loans up to limit from FRBanks of St. Louis and 9/19 249 Atlanta Mississippi Valley Co.: (See Mortgages) 60 Pages idtchell, L. W., reply to letter to Treasury Department on refunding two per cent Consol Bonds at three per cent rate q/19 ,Jonetary and Economic Questions, Conference to be convoked by League of :Nations under resolution of Lausanne Conference 8/10 idontana State Bankers Association, request of Senator Walsh for information on loans for use in speech before 7/19 Moratorium in Twelfth FRDistrict, method of reporting banks suspended under 11/12 Mortgages: Chouteau Trust Co., St. Louis, Mo., request for details on removal of bonds from accounts 12/2 Guaranteed first mortgage certificates issued by Ilississippi Valley Co. and stock held by member bank, Counsel to reconsider legal aspects 9/7 Memoranda of Mr. idingfield and Ia.. amead on extent and possible restriction of such business and information to be submitted by all member banks with next condition reports 11/16 Real estate, method of reporting by Central Trust Co. of Cincinnati, Ohio, those sold to customers with guaranty of payment by Pearl Market Bank and Trust Co. 10/6 Reply to assistant FRAgent at Cleveland on method of reporting on Form 105 10/13 Real estate pools in Pennsylvania, investment of trust funds by national banks in certificates of participation in 12/8 Schedules to obtain information on issuance of, in preparing revised Form 105 12/23 State banks or trust companies engaged in buying and selling mortgage loans, participations therein, or bonds secured thereby, not to be admitted to membership in FRSystem 12/30 Municipal warrants with no definite maturity date are not eligible for purchase by FRBanks, reply to Senator Dill 12/30 Musher, N.: (See Van Camp Milk Co., Inc.) 175 135 63 404 472 219 421 300 335 501 575 596 593 ItNtt National Association of Finance Companies, weekly statements released by, on eligibility of finance company paper for rediscount National bank notes: Attorney General to be requested to interpret three year limitation on issuance under new act Conference of representatives of FRBoard arranged with Attorney General by Dr. Taller Opinion of Attorney General to be published in FRBulletin Bonds held as security for, applications filed by receivers with Comptroller of the Currency to have sold under sec. 18 of FRAct National banks: Aliquippa National Bank, Aliquippa, Pa., assets acquired and liabilities assumed by Woodlawn Trust co. 9/15 239 8/10 146 8/12 8/19 163 172 8/10 144 8/3 110 61 Pages Lational banks: (Continued) Alpha National Bank, Alpha, h. J., purchase of tax anticipation note of Borough of Alpha by FRBank of New York fror 9/21 256 Purchase of additional note approved 11/12 397 American National Bank, Beaumont, Texas, consolidation with City National Bank, certificate to exercise 7/19 58 powers of constituent banks American National Bank of Klamath Falls, Ore., exercise of trust powers terminated by State Superintendent of Banks 216 9/7 American National Bank, St. Joseph, Eo., application for supplemental fiduciary powers approved 130 8/9 American National Bank and Trust Co., Eau Claire, Wis., application for fiduciary powers approved effective 376 when authorized to commence business 1112 Andalusia National Bank, Andalusia, Ala., report of continuous 9/15 231 deficiency in reserves Anglo California National Bank of San Francisco, Calif., certificate of right to exercise fiduciary powers under new title 8/24 186 Applications filed by receivers with Comptroller of the Currency to have sold under Sec. 18 of FRAct bonds held as security for national bank note circulation 8/10 1.“ Atlanta hational Bank, Atlanta, L. Y., advance under Sec. 10(b) of FRAct approved 54 7/19 Application for additional advance approved 103 Q/3 Renewal of advance approved 10/13 334 10/26 346 Application for additional advance approved Renewal of advance approved 375 11/2 Application for additional advance approved 4/22 451 Atlantic City National Bank, Atlantic City, E. J., indebtedness to FRBank of Philadelphia discussed 12/15 534 by Governor Norris Ballston Spa National Bank, Ballston Spa , N. Y., reduction in 7/19 capital approved and then to be increased 56 Bank of America National Trust and Savings Association, San Francisco, Calif., permission to officers and employees to serve also the Bank of America 12/2 475 Beech Creek National Bank of Beech Creek, Pa., report of continuous deficiency in reserves 11/18 426 Berlin National Bank, Berlin, N. H., permission to T2Bank to rediscount notes of nonmember bank secured by Government securities 11/23 459 Bozeman Waters First National Bank, Poseyville, Ind., application for cancellation of FRBank stock not made by receiver because of possibility of reopening 286 10/6 Caldwell National Bank, Caldwell, N. J., purchase of tax notes of Borough of Caldwell by FRBank of New York from 12 7/7 Purchase of additional note approved 10/11 319 Capital National Bank, Lansing, Mich., absorption of City National Bank, efforts to effect cancellation of FRBank stock 8/12 156 62 Pages National banks: (Continued) Carlstadt National Bank, Carlstadt, N. J., purchase of tax notes of Borough of Carlstadt by FRBank of New York from 12/5 Carrollton National Bank, Carrollton, Ky., report of continuous deficiency in reserves 12/14 Carthage National Exchange Bank, Carthage, N. Y., action on application for full fiduciary powers deferred until examination shows improved condition 7/29 Reply to request of Li.. H. L. Machold that FRBoard expedite action on application, and letter to FRAgent on advice to applicants of status of applications 10/6 Action again deferred and to be considered when unsatisfactory conditions are corrected 104 Centerville National Bank, Centerville, Iowa, drafts of Centrox Creamery Co., marked payable at, method of handling for collection 7/20 Chelsea-Second National Bank and Trust Co., Atlantic City, N. J., indebtedness to FRBank of Philadelphia discussed by Governor horris 105 Circulation bonds, advice of no applications for sale of, during second quarter 7/7 Citizens and Security National Bank, St. james, Linn., report of continued deficiency in reserves 10,4 Further report by FRAgent on reserve record 17112 Further report on deficiency in reserves 12/2 Citizens National Bank, Glasgow, Ky., report of continuous deficiency in reserves 12/12 Citizens National Bank, Llano, Texas, report of continuous deficiency in reserves 8/12 Citizens National Bank, Long Branch, N. Y., application for surrender of stock not yet made by receiver 8/5 Citizens National Bank, New Brunswick, N. J., advance under Sec. 10(b) of FRAct approved 12/30 Citizens National Bank of Parkersburg, i. Va., report of continued deficiency in reserves, now restored to required amount 104 City National Bank of Beaumont, Texas, consolidation with American National Bank 7/19 City National Bank, Clinton, Iowa, permission to FRBank to rediscount paper acquired from nonmember banks 7/19 City National Bank, Georgetown, Texas, report of continuous deficiency in reserves 9/19 City National Bank of huntington Park, Calif., report of continuous deficiency in reserves 12/6 City National Bank of Lansing, Lich.: Absorbed by Capital National Bank, FRBank stock not yet cancelled 8/12 No authority to cancel stock until placed in receivership or liquidation 10/27 Fiduciary powers, certificate of surrender approved 7/12 City National Bank of Wichita Falls, Texas, report of continued deficiency in reserves 9/15 City National Bank and Trust Co., Chicago, Ill.: Deposits of Central Republic Bank and Trust Co., transfer to 11/2 486 527 93 297 528 70 534 9 289 403 468 522 157 104 588 288 58 55 247 494 156 372 29 234 387 63 Pages National banks: (Continued) City National Bank and Trust Co.: (Continued) Fiduciary powers, application approved effective when authorized to commence business City National Bank and Trust Co., Oklahoma City, Okla., application for supplementary powers approved Commercial National Bank of high Point, L. G., now in receivership, liability on paper acquired by FRBank of Richmond from Commercial National Bank, Philadelphia, Pa., advance under Sec. 10(b) of FRAct approved Commercial National Bank in Shreveport, La., application for fiduciary powers approved with conditions Condition reports: Call as of June 30 Call as of Sept. 30 Continental-Illinois National Bank and Trust Co., Chicago, Ill., conversion of State member bank, application for fiduciary powers Report of examination considered and application approved upon conversion Cornwall Yational Bank, Cornwall, N. Y., advance under Sec. 10(b) of FRAct approved Renewal in reduced amount approved Derry National Bank, Derry, N. H., absorbed by First National Bank, efforts to secure cancellation of FRBank stock Erwin Rational Bank, Erwin, Tenn., report of continuous deficiency in reserves Examination reports of, proposed increase in charge against FRBanks for copies of Payment of increased fee until June 30, 1933, approved Exchange National Bank, Columbia, Lio., application for supplemental fiduciary powers approved Exchange National Bank, Llarietta, Pa., report of continuous deficiency in reserves Farmers First National Bank, Rake, Iowa, report of continuous deficiency in reserves Farmers National Bank, Adams, D. Y., consolidation with Citizens Trust Co. Farmers National Bank, Glasgow, Ky.: Fiduciary powers, action on application for supplemental to await next report of examination Letter to FRAgent on application and on plan for organization of new bank to take bank over Reserves, report of continuous deficiency in Farriers National Bank, Theresa, N. Y., renewal of advance under Sec. 10(b) of FRAct approved . Renewal of advance for ninety days approved First and Merchants National Bank, Radford, Va., certificate of authority to exercise trust powers granted to constituent banks First Blair County National Bank, Tyrone, Pa., certificate for exercise of fiduciary powers granted to constituent national banks 10/5 265 8/3 109 9/7 218 12/2 464 12/23 567 7/1 10/6 1 275 10/6 272 10/13 336 , 02 26 10/11 317 8/19 171 105 539 13116 12/2 422 480 8/10 139 13/16 420 12/8 502 9/15 237 8/12 158 11/18 9,/15 428 234 8/24 13118 181 425 8/3 110 13/2 377 64 Pages National banks: (Continued) First City Rational Bank, Floresville, Texas, certificate of authority to exercise trust powers granted to constituent bank la/2 First henry National Bank, Henry, Ill., report of continuous reserve deficiency, letter to directors suggested 108 First-Lercer National Bank of harrodsburg, Ky., in voluntary liquidation and liquidating agent to make application for surrender of stock in due course 8/3 First National Bank of Aberdeen, Yd., letter to Comptroller of Currency that criticism of bank for not having copy of permit to Senator Tydings in files, is not justified 11/12 First National Bank of Abingdon, Va., report of continuous deficiency in reserves W6 First National Bank, Altamont, N. Y., advance under Sec. 10(b) of FRAct approved 124/20 First National Bank, Antioch, Ill., report of unsatisfactory reserve record 9/15 First National Bank, Ashton, Iowa, report of unsatisfactory reserve record 9/15 Report of continuous deficiency in reserves 11/21 First National Bank, Avoca, Mich., report of continued deficiency in reserves 9/2 First National Bank in Avon-by-the-Sea, N. J., advance under Sec. 10(b) of FRAct approved la/27 First National Bank of Bangor, Pa., report of continuous deficiency in reserves la/19 First National Bank in Bartlesville, Okla., application for supplemental fiduciary powers 8/12 Action on application for additional powers deferred 10/6 Application for general fiduciary power approved 1g/3 Criticisms contained in examination report with regard to investment of trust funds, referred to Comptroller of Currency la/8 First National Bank of Bolivar, N. Y., renewal of advance under Sec. 10(b) of FRAct approved 8/31 Renewal of advance approved 12/2 First National Bank of Carrollton, Ohio, report of continued deficiency in reserves 10/6 First National Bank, Carteret,N. J., advance under Sec. 10(b) of FRAct approved 7/7 First National Bank, Chaffee, 'Jo., application for cancellation of FRBank stock not made by receiver as matter of reorganization is not settled 10/6 First National Bank, Channing, Texas, report of continuous deficiency in reserves 10/26 First National Bank of Chehalis, Wash., assets acquired and liabilities assumed by Coffman Dobson Bank and Trust Co. 8/31 First National Bank, Chickasha, Okla., report of continuous deficiency in reserves 1g/14 First National Bank of Coeburn, Va., report of continuous deficiency in reserves la/6 46 427 104 40 494 653 233 233 439 205 580 543 158 295 503 504 195 463 287 11 286 352 197 527 494 65 Pages National banks: (Continued) First National Bank of Commerce, Tarpon Springs, Fla., advance under Sec. 10(b) of FRAct approved First National Bank of Connoautville, Pa., report of continued deficiency in reserves First National Bank, Conrad, Liont., report of continued deficiency in reserves Further report on deficiency, no action at present Further report by FRAgent on reserve record Further report on deficiency First National Bank, Croton-on-Hudson, N. Y., advance under Sec. 10(b) of TRAct approved First National Bank, Darby, Pa.: Advance under Sec. 10(b) of FRAct approved Reserves, report of continuous deficiency in, and statement on management First National Bank, Derry, I. h., absorption of Derry National Bank First National Bank-Detroit, Lich., certificate of authority to exercise fiduciary powers previously granted to First Wayne National Bank First National Bank of East Aochester, N. Y., purchase of tax note of Town of Pittsford by FRBank of New York from First National Bank of Egan, S. Dak., report of continued deficiency in reserves Further report on deficiency, no action at present First National Bank, Lnglishtovm, N. J., purchase of tax note of Borough of Englishtawn by FABank of New York from First National Bank of ugone, Ore., request for permission to act as depositary for bondholders committees Application for supplementary fiduciary powers approved First National Bank, Fayetteville, Ark., handling for collection of drafts drawn by Centrox Creamery Co. on itself and marked payable at a bank First National Bank of Foley, Minn., report of continued deficiency in reserves Further report on deficiency, no action at present Further report by FRAgent on reserve record Further report on deficiency First National Bank, Fort Myers, Fla., advance under Sec. 10(b) of FRAct approved First Rational Bank, Gallup, B. Lex., report of unsatisfactory reserve record First National Bank, Goodhue, Minn., report of continuous deficiency in reserves First National Bank, Graettinger, Iowa, report of unsatisfactory reserve record Further report on unsatisfactory reserve record First National Bank of Hale Center, Texas, report of continuous deficiency in reserves First National Bank, hardin, Mont., application for reduction in capital stock 10/ 4 26 347 10/6 287 9/7 215 1Q/6 289 102 403 468 12/2 10/6 284 109 542 100 349 8/19 171 1Q/26 354 10/ 4 6 284 8/24 10/6 184 289 7/1 3 8/9 4/21 132 433 7/20 70 8/24 104 1Q/6 289 102 403 468 12/2 1Q/6 284 1312 379 12/2 468 9/15 11/2 233 378 9/15 234 4/2 380 66 National banks: (Continued) First National Bank, Harlingen, Texas, report of continuous deficiency in reserves First National Bank, Henry, Ill., report of continuous deficiency in reserves First National Bank, high Bridge, N. J., to reopen for business and FRBank stock to be reissued First National Bank, ililisdale, Mich., report of continuous deficiency in reserves Letter to FRAgent at Chicago on First National Bank of Hinsdale, Ill., to take over assets of Hinsdale State Bank First National Bank, Hoboken, N. J., reduction in capital stock approved First National Bank, Indiana, Pa., report of continuous deficiency in reserves First National Bank, Iron River, Lich., report of continuous deficiency in reserves Advice that reserves now restored to required amount First National Bank, Jacksboro, Texas, reduction in capital stock approved First National Bank of Jackson, Ky., report of continuous deficiency in reserves First National Bank, Kemmerer, ayo., application for supplementary fiduciary powers approved First National Bank, henmore, N. Y., certificate of surrender of right to exercise fiduciary powers First National Bank, La Harpe, Ill., report of continuous deficiency in reserves First National Bank of Lavonia, Ga., reduction in capital stock approved First National Bank, Lewisville, Ind., report of continuous deficiency in reserves Further report on unsatisfactory record and that bank has suspended First National Bank, Lindenhurst, N. Y., advance under Sec. 10(b) of FRAct approved First National Bank, Little Rock, Iowa, report of unsatisfactory reserve record Report of continuous deficiency in reserves Further report on First National Bank of Livingston, Ill., report of continuous deficiency in reserves First National Bank, Lockney, Texas, report of continuous deficiency in reserves First National Bank in Mamaroneck, 1,. Y.: Advance under Sec. 10(b) of FRAct, renewal approved Application for additional advance approved Renewal of advance in reduced amount approved Additional advance approved Fiduciary powers, application disapproved because of unsatisfactory condition Reserves, report of continuous deficiency in Tax warrants of Village of Mamaroneck, purchase by FRBank of New York First National Bank of Meadow, Texas, report of continued deficiency in reserves Pages 10/11 321 9/15 232 12/12 519 9/2 9 /7 205 216 8/12 158 12/9 514 12/30 591 9/7 10/6 215 290 1g/9 513 10/6 287 8/3 108 8,/9 133 10/26 351 10/11 321 9/15 232 108 427 106 418 9,/15 10/26 4/12 233 351 402 9/15 234 12/19 543 8/24 131 10/26 346 4/21 437 12/23 563 8/24 185 10/26 349 7/20 67 7/3 18 67 Pages National banks: (Continued) First National Bank, Midland Park, N. J., purchase of tax notes of Borough of Midland Park by FRBank 10/11 319 of New York from First National Bank, Montpelier, Ind., report of unsatis05 233 factory reserve record Report of continuous deficiency in reserves 10/26 350 11/2 378 Further report on unsatisfactory reserve record First National Bank, Morganton, N. G., application for 0 107 fiduciary powers approved First National Bank of Morris, B. Y., reduction in capital 8/3 106 approved and then to be increased First hational Bank of Murfreesboro, Tenn., indebtedness acquired by FRBank of Atlanta from, payment 12/15 538 of fee to H. B. Shofner in connection with First National Bank of Neenah, (is., application for general 9/7 216 fiduciary powers approved First National Bank of New Bern, N. C., litigation growing out of failure of, fee of Newton D. Baker 4/12 410 for services approved First National Bank, North Bennington, Vt., loans to h. T. 102 398 Cushman Manufacturirg Co First National Bank, Northboro, Iowa, report of continuous 9/15 233 deficiency in reserves Reply to FRAgent at Chicago on unsatisfactory record of 9/21 256 bank First National Bank of Odin, Ill., report of continuous 58 7/19 deficiency in reserves 379 4/2 Report of unsatisfactory reserve record First National Bank, Ogden, Utah, advance under Sec. 10(b) of 213 9/7 FRAct approved First National Bank of Parkers Landing, Pa., reduction in 12/12 522 capital stock approved First National Bank, Paul, Idaho, report of continuous 10/26 352 deficiency in reserves First National Bank, Perryton, Texas, report of continuous 10/11 321 deficiency in reserves First National Bank of Pittsburgh, Pa., value at which stock 4/12 405 is carried by Peoples-Pittsburgh Trust Co. First National Bank, Plainfield, N. J., certificate of authority to exercise fiduciary powers granted to 108 429 constituent national banks First National Bank, Port Arthur, Texas, application for supple67 7/20 mentary fiduciary powers approved First National Bank, Radford, Va., consolidation with Farmers 0 110 and Merchants National Bank First National Bank, Ridge Farm, Ill., report of unsatisfactory 9/15 233 reserve record First National Bank, Ripley, Tenn., absorbed by State institution, request of FRAgent that receiver be ap11/21 440 poinbed so that FRBank stock can be cancelled First National Bank of Rockville Centre, B. Y., now in voluntary liquidation, procedure for release of bonds deposited with State authorities in operation 59 7/19 of trust department 68 Pages National banks: (Continued) First National Bank, Salt Lake City, Utah, advance under Sec. 10(b) of FRAct approved 9/7 First National Bank, Savanna, Ill., application for supplemental fiduciary powers approved 8/9 First National Bank, Secor, Ill., report of unsatisfactory reserve record 9/15 Report of continuous deficiency in reserves 12/27 First National Bank, Seguin, Texas, application for fiduciary powers approved 8/19 First National Bank, Shreveport, La., application for supplementary fiduciary powers approved 8/3 First National Bank in Sioux City, Iowa, application for fiduciary powers approved 7/19 First National Bank, Sodus, N. Y., report of continuous deficiency in reserves 10/26 First National Bank of Spartanburg, S. C.: Check drawn on bank now closed, reply to Palmetto Fish and Oyster Co. on amount of 10/26 Securities used as collateral for trust funds awaiting investment, reply to j.:r. Luther K. Brice on 10/6 First National Bank of Stone Lake, Wis., report of continuous deficiency in reserves 11/12 First National Bank of Swunville, lann., report of continued deficiency in reserves 8/24 Further report on deficiency, no action at present 10/6 Further report by FRAgent on reserve record 11/12 Further report on deficiency 12/2 First National Bank, Terra Alta, sff. Va., FRBank stock to be issued on reopening of bank 11/18 First National Bank of Thief River Falls, 'ann., report of continuous deficiency in reserves 12/2 First National Bank of Valkinsburg, Pa., stock held by subsidiary of Peoples-Pittsburgh Trust Co. in violation of agreement 11/12 First National Bank, iinslow, Id., report of continuous n deficiency in reserves 12/12 First National Bank of Ubodburn, Ore., assets acquired and liabilities assumed by Bank of Woodburn 7/29 First National Bank of Woodstown, IN. J., application for fiduciary powers approved upon increase in capital 11/23 First National Bank of the Thousand Islands, Alexandria Bay, N. Y., reduction in capital approved and then to be increased 8/3 First National Bank and Tiust Co., 'Cambridge City, Ind., report of continued deficiency in reserves 9/15 Further report on deficiency with opinion that bank is making effort to restore reserves 11/18 First National Bank and Trust Co. in Orlando, Fla.: Advance under Sec. 10(b) of FRAct, renewal approved 12/23 Reserves, report of continuous deficiency in, and criticism of administration of trust department 12/23 First National Bank and Trust Co., Schuylkill Haven, Pa., assets acquired and liabilities assumed of State Bank of Schuylkill Haven jointly with State member bank 8/9 212 131 233 582 170 108 60 349 364 296 403 184 289 403 468 429 467 405 522 95 454 106 232 427 566 571 134 69 Pages National banks: (Continued) First National Bank and Trust Co., Schuylkill Haven: (Continued) . No objection to absorption First-Stroudsburg National Bank, Stroudsburg, Pa., certificate to exercise fiduciary powers granted to constituent national banks Fishkill National Bank, Beacon, N. Y., purchase by FRBank of New York of tax notes of City of Beacon from Gavitt National Bank, Lyons, N. Y., advance under Sec. 10(b) of FRAct renewed in reduced amount Germantown National Bank, Germantown, N. Y., cancellation of FRBank stock not to be required of receiver at present Gloucester National Bank of Gloucester, latss., action on application for full fiduciary powers to await report of examination and recommendation of FRAgent Action again deferred, letter to Comptroller of Currency to make recommondation after another examination Action on application deferred Greensburg National Bank, Greensburg, Ind., report of unsatisfactory reserve record Reply to FRAgent at Chicago on unsatisfactory record of bank Grundy County National Bank, Lorris, Ill., certificate of surrender of fiduciary powers Haledon National Bank, Haledon, N. J., advance under Sec. 10(b) of FRAct Home National Bank of Union City, Pa., FRBank stock to be reissued upon reopening of is National Bank and Trust Co., Rockford, Ill., permit will be issued to exercise fiduciary powers if conversion is effected within sixty days with paid in capital of 200,000 Industrial National Bank, New York City, absorbed by Continental Bank and Trust Co. Labor National Dank, Paterson, L. J., advance under Sec. 10(b) of FRAct approved Additional advance approved Renewal of advance in reduced amount approved Additional advance approved Renewal of advance in reduced amount approved Larchmont National Bank and Trust Co., Larchmont, N. Y., advance under Sec. 10(b) of FRAct approved Lincoln National Bank, 'Newark, N. J., renewal of advance under Sec. 10(b) of FRAct in reduced amount approved Renewal in reduced amount approved . Additional advance approved Linden National Bank, Linden, N. J., absorbed by Linden Trust Co. 1g/12 520 10/6 296 la/2 465 9/21 255 8/4 118 8/3 107 11/18 427 497 1g/6 9/15 233 9/21 256 la/12 522 la/30 587 1g/2 466 4/12 401 7/1 4 7,729 10/6 11/2 124/2 1g/23 92 282 576 464 564 q/24 182 9/15 229 W12 517 124/30 587 124/12 519 70 Pages National banks: (Continued) Live Stock National Bank, sioux City, Iowa, permission to FRBank to rediscount paper acquired from nonmember banks by 7/19 Lyons National Bank, Lyons, h. Y., purchase of certificates of indebtedness of County of Wayne by FRBank of New York 11/12 Market Street National Bank, Philadelphia, Pa., application for supplemental fiduciary powers approved 12/23 Marlin-Citizens National Bank, Marlin, Texas, report of continuous deficiency in reserves 11/21 MoDaniel National Bank, Springfield, Mo., absorbed by another bank, request that receiver be appointed so FRBank stock can be cancelled 12/2 Mechanics National Bank and Trust Co., Millville, N. J., report of continuous deficiency in reserves 11/12 Merchants National Bank, Mobile, Ala., advance under Sec. 10(b) of ERAct approved 9/15 Amount of advance reduced because of collateral offered 9/15 Extension of advance for sixty days approved 12/9 Merchants National Bank in Plattsburg, I. Y., condition for exercise of trust powers that capital account be increased within one year not to be insisted upon at present 8/3 Letter to Acting Comptroller of the Currency for advice as to steps to be taken by his office as result of latest examination of bank 10/26 Stock not increased as requirement for permission to exercise fiduciary powers, letter to Acting Comptroller of the Currency on impaired capital 12/2 Metuchen National Bank, Metuchen, W. J., purchase of tax notes of Borough of Metuchen by FRBank of New York 10/26 Miami County National BAnY, Paola, Kansas, letters on general condition of bank and on personal activities of Frank W. Sponable, President 8/19 Correspondence on progress being made by bank and matters referring to Mr. Sponable 10/6 Midland National Bank and Trust Co., Minneapolis, Minn., application for supplementary fiduciary powers approved 8/4 Millersville National Bank of Millersville, Pa., report of continuous deficiency in reserves 11/21 Millington National Bank, Millington, Mich., report of continuous deficiency in reserves 9/2 Letter to FRAgent at Chicago on 9/7 Mbrganfield National Bank, Morganfield, Ky., application for supplementary fiduciary powers approved 9/15 National Bank of Commerce, Hugo, Okla., report of continuous deficiency in reserves 12/12 National Bank of Commerce, Lorain, Ohio, renewal of advance under Sec. 10(b) of FRAct for thirty days approved 7/7 Rational Bank of Conallerce in Los Angeles, Calif., now in liquidation, penalties for deficiencies in reserves collected since Jan. 11 to be returned 12/23 55 398 566 439 473 402 230 230 512 107 353 469 348 173 301 119 438 205 215 236 522 11 572 71 Pages National banks: (Continued) National Bank of Fort Sam Houston, San Antonio, Texas, reduct1Q/26 355 ion in required reserves approved National Bank of Newport, N. Y., report of continuous 1Q/26 349 deficiency in reserves National Bank of Pontiac, Pontiac, Ill., report of unsatis9/15 233 factory reserve record National Bank of Summers, Hinton, T. Va., report of continuous 288 1Q/6 deficiency in reserves National City Bank of New York, extension of time for opening 1Q/11 326 branch in Geneva, Switzerland National Exchange Bank, Waukesha, ais., report of continued 9/15 232 deficiency in reserves National Trust Co., uharleston, Ill., report of unsatisfactory 9/15 233 reserve record Nen haven Bank, N. B. A., New haven, Conn., establishment of temporary currency depot at, by FRBank of 7/26 78 Boston New London National Bank, New London, Iowa,.report of unsatis9/15 233 factory reserve record Newton National Bank, Newton, Iowa, application for fiduciary 295 10/6 powers approved Nyack National Bank and Trust Co., Lyack, N. Y., title changed and certificate authorizing exercise of trust 7/19 58 powers under new name Oceanside National Bank, Oceanside, N. Y., purchase of tax notes 285 of Town of Aempttead by FRBank of New York from IQ/6 12/27 581 Purchase of additional notes approved Old National Bank and Union Trust Co., 6pokane, iash., advance 126 8/9 under Sec. 10(b) of FRAct approved 102 396 Authority amended to increase amount of advance Neu advance approved and present advances to be retired 4/12 397 Paulding National Bank, Paulding, Ohio: Rediscount of paper acquired from nonmember bank by, per8/24 182 mission to PRBank 12/23 571 ieserves, report of continuous deficiency in Pelham National Bank, Pelham, N. Y., advance under Sec. 10(b) 1Q/26 347 of FRAct approved 4/22 450 Additional advance approved Pennsylvania, investment of trust funds in certificates of 501 participations in real estate mortgage pools by 12/8 Peoples National Bank, Delta, Pa., report of continuous 11/21 438 deficiency in reserves Peoples National Bank, Newark, N. J., advance under Sec. 10(b) 74/29 91 of FRAct approved Peoples National Bank, Parkersburg, ';i". Va., permission to exercise trusts taken over from other bank, full 19 7/8 permission to await next examination Peoples National Bank, Seymour, Mo., report of continuous 12/3 503 deficiency in reserves Peoples National Bank, Southbridge, Mass., authority to FRBank of Boston to make advances under Sec. 10(b, 7/1 2 extended 72 Pages National banks: (Continued) Peoples National Bank, Southbridge, Mass.: (Continued) Authority extended to July 29 7/19 Authority exterded to Aug. 12 7/29 Authority extended to Aug. 26 8/12 Authority extended to Sept. 9 8/31 Authority extended to Sept. 23 9/8 Extension of authority for thirty days 10/6 Advance to be continued -without demand for payment for not over thirty days 10/26 Advance to be continued and additional advance authorized 4/23 Peoples National Bank of Warrensburg, Mo., application for fiduciary powers approved 4/9 Perth Amboy National Bank, Perth Amboy, N. J., advance under Sec. 10(b) of FRAct approved 7/7 Planters National Bank in Fredericksburg, Va., application for full fiduciary powers recommended by Comptroller of Currency, letter to FRBank of Richmond to resubmit to executive committee for recommendation 7/7 Application approved 7/19 Plaza National Bank, St. Louis, 1.1o., proposed consolidation with Guaranty Bank and Trust Co. to form Guaranty-Plaza Trust Co. q/31 (See also Membership in FRSystem, Guaranty-Plaza Trust Company) Rawlins National Bank, Rawlins, iyo., application for supplemental fiduciary powers approved 4/9 Rigby National Bank, Rigby, Idaho, report of continuous deficiency in reserves 10/6 Salt Springs National Bank, Syracuse, N. Y., advance under Sec. 10(b) of FRAct approved 7/26 Previous advance liquidated and application for advance for ninety days approved 8/31 Advance in amount of $150,000 for ninety days approved 10A Renewal of advance of :A0,000 approved 100 Seaboard Citizens National Bank, Norfolk, Va., letter to Treasury Department on refunding two per cent Consol Bonds at three ner cent rate 8/19 Second National Bank, Erie, Pa., report of continuous deficiency in reserves 7/12 Security National Bank, _Zandolph, Nebr., report of continuous deficiency in reserves 12/23 Security National Bank, Sioux City, Iowa, permission to FRBanks to rediscount paper acquired from nonmember banks 7/13 Sixth National Bank of Philadelphia, Pa., certificate of surrender of right to exercise fiduciary powers 12/2 South Carolina National Bank of Charleston, S. C., extension for six months of period to rediscount paper acquired from nonmember banks 10/11 Southside National Bank and Trust Co., Newark, N. J., advance under Sec. 10(b) of FRAct approved 7/29 State-National Bank of Peru, Ill., application for fiduciary powers, action deferred until after next examination 8/4 53 90 154 194 225 230 345 458 130 10 13 59 201 131 290 76 194 283 586 175 27 571 38 465 320 91 119 73 Pages National banks: (Continued) State-National Bank of Peru, Ill.: (Continued) Request of Cashier that no further action on application be taken Stockgrawers and Farmers National Bank, Wallowa, Ore., report of continuous deficiency in reserves Straus National Bank and Trust Co., 1,au York City, absorbed by Continental Bank and Trust Co. Terre haute First National Bank, Terre haute, Ind., certificate of authority to exercise trust powers granted to constituent banks Third National Bank of Rockford, Ill., recommendation of FRBank that action on application for supplemental fiduciary powers be deferred, favorable action recommended by FaBoard Application for general fiduciary powers approved Toy National Bank, Sioux City, Iowa, permission to FRBank to rediscount paper acquired from nonmamber banks Union National Bank, Bartlesville, Okla., action on application for fiduciary powers deferred until after next examination Application denied because of unsatisfactory condition of bank and inexperience of officers Union National Bank, Cadiz, Ohio, certificate of surrender of right to exercise fiduciary powers U. S. Bank and Trust Co., Aochester, Ind., report of unsatisfactory reserve record United States National Bank, aigene, Ore., permission to act as trustee in connection with loans United States National Bank, Johnstown, Pa., application for fiduciary powers in contemplation of absorption of three State institutions, action deferred Approval of application for fiduciary powers not recomended by FRAgent United States National Bank, nciannville, Ore., advice that State Superintendent of Banks had terminated exercise of fiduciary powers by Vancouver National Bank of Vancouver, Wash., application for supplementary fiduciary powers not approved • r ijorfung National Bank, Casper, Wyo., reduction in capital not approved tional Economy Act: (See Legislation, Economy Act) ada, banking conditions in, and necessity of closing banks or declaring bank holidays until problems are solved l evr Ilexico Lumber and Timber Co., Bernalillo, N. Mex., warehouse ' receipts as security for loan made by FRBank of Kansas City to 143/1:Me1nber banks: Bank of Rockville Centre Trust Co., Rockville Centre, E. Y., business of First bational Bank assumed, procedure for release of bonds deposited in operation of trust departmont of national bank 10/6 295 12/12 522 4 12/2 465 8/19 8/24 169 185 8/19 168 09 170 12/23 568 10/26 353 9/15 233 8/9 132 9/21 258 12/8 501 9/7 216 13 10/26 355 7/20 72 11/2 7/19 383 59 74 Page Nonmember banks: (Continued) Central Republic Bank and Trust Co., Chicago, Ill., deposits transferred to national bank and to be dropped from list of weekly reporting member banks 11/2 Clinton Trust Co., Lock Haven, Pa., consolidation with Lock Haven Trust Co. under new charter 8/10 Dundee State Savings Bank, Dundee, Mich., absorption by Monroe County Bank 1Q/26 Elliott State Bank of Jacksonville, Ill., letter on refusal of FRBank to permit to deduct tax on remittance drafts sent to FRBank 7/8 Fidelity Savings Bank of Berlin, N. H., permission to FRBank to rediscount note acquired by Berlin National Bank from 11,/23 First Savings Bank, Albany, Ore., assets purchased and liabilities assumed by Albany State Bank 102 Hulett State Bank, Hulett, Wyo., absorption by Sundance State Bank, Sundance, Wyo. 7/12 Johnstown Trust Co., Johnstown, Pa., contemplated absorption by United States National Bank 9/21 Main Line Trust Co., Ardmore, Pa.: (See State member banks, Pennsylvania Co. for Insurances on Lives and Granting Annuities) lashawaka St. Joseph Loan and Trust Co., ilishawaka, Ind., savings deposit liability assumed by St. Joseph Loan and Trust Co., South Bend, Ind. 1Q/26 Oakwood Deposit Bank Co., Oakwood, Ohio, permission to FRBank to rediscount paper acquired by Paulding National Bank from 8/24 Peoples Savings Bank, Lorain, Ohio, assets acquired and liabilities assumed by Cleveland Trust Co., action deferred 1Q/26 Peoples State Savings Bank of Midland, Mich., absorbed by Chemical State Savings Bank 7/12 South Carolina State Bank, Charleston, S. C., extension of time to FRBank of Richmond to rediscount paper acquired by South Carolina National Bank from 1Q/11 State Bank of Binghamton, N. Y., attorneys fees in connection with preferred claims filed by FRBank of New York against 7/7 State Bank of Lizton, Ind., permission to FRBank to rediscount paper acquired by Citizens State Bank, Jamestown, Ind., from 7/13 State Bank of Schuylkill Haven, Pa., assets acquired and liabilities assumed by Schuylkill Haven Trust Co. jointly with national bank 8/9 No objection to absorption 102 State Trust Company of North Tonawanda, N. Y., letter from Mr. Henry Hafner on charge imposed for collection of Postal money order 11/12 United States Savings and Trust Co. of Conemaugh, Johnstown, Pa., contemplated absorption by United States National Bank 9/21 United States Trust Co., Johnstown, Pa., contemplated absorption by United States National Bank 9/21 387 139 357 21 459 408 28 258 358 182 357 28 320 12 37 134 520 410 258 258 75 Pages Norman, Montagu, Governor of Bank of England, press statement on alleged conferences with officials of FRSystem, reference of i.r. Hamlin to Official register of United States, list of officers and employees of FRBoard not to be furnished to Bureau of Census for publication in No objection to publishing names of officers and employees, omitting individual salaries Oklahoma, letters from certain bankers in, opposing any transfer from Eleventh to Tenth FRDistrict Olsen, I. A.: (See Warehouse receipts) OmiDarket operations: Sale of si. 20,000,000 of Government securities purchased by FRBank of Chicago during recent banking disturbance Report of FRBank of New York on request from FRBank of Chicago to purchase :20,000,000 of securities for its account °Pen Market Policy Conference: Meeting to be held in Washington on July 14 and Governors to be requested to arrange to remain for two days Meeting with FRBoard to discuss policies, pending legislation, etc., then separate meeting, then joint meeting, and resolution on purchase of securities approved Chances in tentative draft of minutes of meeting suggested by FIZBoard Meeting to be held not later than first of September, consensus of opinion at meeting of Governors with FRBoard Meeting of Executive Committee to be called for Sept. 9 now considered necessary and arrangements to be dropped Lleetlirg to be hold while Governors arc attending Conference in Washington beginning Nov. 14 Report of Chairman that no change should be made in System holdings of Government securities at this time, and another meeting should be held first week in January Ileeting to be held on Jan. 4, 1933, approved 9/15 243 7/19 62 a/19 249 10/6 312 a/7 221 a/8 225 7/8 22 7/14 44 7/29 96 7/15 9/7 9/8 51 221 226 11/3 393 11/16 12/23 423 578 flpfl Palmetto Fish and Oyster Co., Columbia, S. G., reply to Er. Dieter on amount of check drawn on First National 10/26 of Spartanburg, S. C., now closed Bank Par list, rem°val of nonmember banks that insist on deducting amount of tax from remittance drafts 7/1 Penalty rates for deficient reserves discontinued: (See Reserves) Pen nsylvania, investment of trust funds in certificates of participations in real estate mortgage pools by national banks in 1g/8 364 8 501 76 Pages Post Office Department: Cash letters sent by FRBank of Kansas City by express instead of mail, correspondence on Ruling of Second Assistant Postmaster General that there is no objection to sending by express if not accompanied by letter Currency shipments, request that they accepted without declaration of value Postal money order, charge for collection made by State Trust Co. of liorth 7Tonawanda, N. Y., reply to Er. henry Hafner on President of the United States: Copies of statements published during 1928 and 1929 indicating policy of FRBoard toward credit conditions, request of Adminibtrative Assistant to President for Messages sent to Associated Transamerica Stockholders, request for copies of Survey by banking and industrial commission discussed in letter from, and view that FRBanks should at once undertake direct rediscounts under authority provided in Relief Bill Reply to President presented and approved Press statements: Norman, Montagu, alleged conferences with officials of FRSystem, reference of Mr. Hamlin to Weekly condition statements: (See Condition reports) Protest of checks: (See Clearing and collection) Publications: FRBulletin:, (See FRBulletin) United States Daily, authority to print article prepared by Counsel's Office on "Recent Amendments to FRAct" 10/26 365 102 412 8/12 161 11/12 410 9/2 203 10/25 339 7/26 8/10 80 141 9/15 245 9/15 238 0 136 4/12 411 tIQ11 Quarters of FRBoard: Shoroham Building, amount of space calculated and verified and amount of monthly rental approved Questionnaires: Acceptance practice of American banks, tentative course of procedure for initiating study of 1 Rainey, Congressman Henry T., letter on refusal of FRBank to permit Elliott State Bank of Jacksonville, Ill., to deduct tax on remittance drafts sent to FRBank Rates: Feeder loans, established by FRBank of Minneapolis at seven per cent until Regional Agricultural Credit Corporation organizations begin to function FRBank of Atlanta: Rediscount of notes for individuals, partnerships, and corporations, established at six per cent 7/8 21 9/19 253 6/12 154 77 Pages Rates: (Continued) FRBank of Atlanta: (Continued) Schedule of discount and purchase FRBank of Boston: Loans to individuals, etc., under recent amendment to FRAct, fixed by FRBank at 5?); per cent, action deferred Action rescinded and established at six per cent, approved Schedule of discount and purchase FRBank of Chicago: Loans to individuals, etc., under recent amendment to FRAct, fixed at 51- per cent, again to be considered by executive committee of bank Established at six per cent Schedule of discount and purchase PRBank of Cleveland: Loans to individuals, etc., under recent amendment to FRAct established at 5.1-- per cent before receipt of telegram from FRBoard, again to be considered by executive committee of bank Established at six per cent Approved at six per cent Schedule of discount and purchase PRBank of Dallas: Rediscounts for individuals, partnerships, and corporations fixed at six per cent and approved 7/12 8/12 9/15 10/26 11/12 1g/12 24 153 227 345 395 517 8/9 125 8/10 137 7/1 2 7/19 52 7/29 88 8/31 192 211 9/7 10/6 275 10/26 345 4/3 390 11/23 453 la/2 460 la/15 538 la/30 586 8/9 8/12 7/26 9/7 10A 1372 la/2 la/27 126 154 74 211 275 375 460 580 8/9 lg/9 125 165 130 24 122 227 317 395 512 9/8 224 8/19 8/24 7/12 8/5 9/15 10/11 71/12 78 Pages Rates: (Continued) FRBank of Dallas: (Continued) Schedule of discount and purchase 7/7 9 9/7 211 10/26 345 1V12 395 50 12/8 224 9/8 Trade acceptances, purchase of, approved at three per cent FRBank of Kansas City: Rediscounts for individuals, partnerships, and corporations, approved at six per cent 8 10 €44 18 Schedule of discount and purchase 7/26 74 122 8/5 8/19 164 211 9/7 9/19 246 Wu. 317 1Q/26 345 102 395 4/21 137 11 2 56 2 2/95 1 12/3 FRBank of Minneapolis: Loans to individuals, etc., under recent amendment to FRAct, approved at six per cent Rediscount on feeder loans approved at seven per cent and loans to be turned over to regional Agricultural Credit Corporation Schedule of discount and purchase FRBank of New York: idinimum buying rate for purchase of trade acceptances, approved at two per cent from FRBank on making rate effective Letter Rediscounts under recent amendment to Sec. 13 of FRAct, proposed minimum and maximum rates, statement of reasons for proposed rates Reply of Governor Harrison on considerations which prompted action Fixed at six per cent and approved Considerations which prompted establishment of six per cent rate and request for permission to reopen question of spread of rates Schedule of discount and purchase 8/9 125 9/19 7/12 9/15 4/2 4/21 12/2 12/2o 253 24 227 375 437 460 553 8/4 8/5 121 122 7/29 97 8/5 4/9 123 125 09 7/1 7/8 7/19 V26 7/29 EV5 8/12 4/19 164 2 16 52 74 88 122 153 164 79 Pages Rates: (Continued) FRBank of New York: (Continued) Schedule of discount and purchase (Continued) PRBank of Philadelphia: Rediscount of notes for individuals, partnerships, and corporations, established at six per cent Rediscount of trade acceptances established at three per cent, action deferred pending meeting of FRBoard next week Establishment of preferential rates not favored and Secretary of Board to call :Lr. Hutt on telephone to explain attitude of FRBoard Report of Secretary of Board on conversation with iIr. Hutt, matter to be brought up at next meeting of directors Schedule of discount and purchase FltBank of Richmond: Loans to individuals, etc., under recent amendment to FRAct, approved at six per cent Schedule of discount and purchase PRBank of St. Louis: Loans to individuals, etc., under recent amendment to to FRAct, approved at six per cent Schedule of discount and purchase 8/31 9/2 9/15 9/19 10/6 10/11 10/26 4/2 102 108 12/2 12/9 109 103 100 192 204 227 246 275 317 345 375 395 425 460 512 542 561 586 8/12 153 8/19 176 8/24 188 8/31 7/7 7/26 10/6 10/26 1V2 11/16 12/8 201 9 74 275 345 375 418 501 125 8/9 7/19 52 8/19 164 9/15 227 10/13 334 4/12 395 12/15 538 125 8/9 7/7 9 7/20 67 8/19 164 211 9/7 9/21 255 275 10/6 Page0 80 Rates: (Continued) FRBank of St. Louis: (Continued) Schedule of discount and purchase (Continued) FRBank of San Francisco: Loans to individuals, etc., under recent amendment to FRAct, spread from five per cent to seven per cent proposed, single rate favored by FRBoard Rates differ from action taken by ten other FRBanks, action deferred Schedule of rates submitted by FRBank discussed and Mr. Miller to call Governor of FRBank on telephone re Report of Mr. Miller on conversation with Governor Calkins, rate to be taken up at next meeting of directors Fixed at six per cent and approved Schedule of discount and purchase 10/26 11/2 11/22 12/2 12/23 343 375 450 460 561 8/5 123 8/19 177 8/24 189 8/31 9/2 7/8 7/26 8/19 9/2 9/19 10/11 1/26 /12 1 10 200 204 16 74 164 204 246 317 346 393 426 460 542 11/18 12/2 12/19 Interest: Adjusted service certificates, reduction in maximum rate to be charged on loans secured by, ruling of Comptroller General on Credit to German Reichsbank, request for reduction on renewal of Preferential discount rates discussed in considering rate requested by FRBank of rhiladelphia on trade acceptances Rediscounts for individuals, partnerships, and corporations, executive committee authorized to approve rates for ten days or two weeks (See also Rates, FRBank of Real estate mortgages: (See Mortgages) Reconstruction Finance Corporation: Rediscount of paper of regional Agricultural Credit Corporations: (See Regional Agricultural Credit Corporations) Richmond Loan Agency, furnishing of information in confidential sections of examination reports of member banks to Staff: Fleming, M. J., termination of services as Manager of Cleveland Agency 1 12/2 477 1 12/2 478 EV24 190 8/10 137 10/6 308 12/20 554 81 Reconstruction Finance Corporation: (Continued) Staff: (Continued) Knowlton, T. L., reimbursement to Birmingham Branch for partial services of Paulger, Leo L., leave without pay while serving, extended to September 30 Towle, R. E., leave of absence from Helena Branch to to organize Regional Agricultural Credit Corporation at Spokane, Wash. Leave extended for not over three months Redise ounts: Adjusted service certificates, Regulation G on rediscounting notes secured by, revised to comply with recent amendment to law Publication in FRBulletin authorized Automobile finance company paper, suggestion of Congressman Briggs that lay be amended to make eligible for Berlin National Bank, Berlin, N. 11., permission to FRBank to rediscount note acquired from nonmember bank Citizens State Bank, Jamestown, Ind., permission to FRBank to rediscount paper acquired from nonmember bank City National Bank, Clinton, Iowa, permission to FRBank to rediscount paper acquired from nonmember banks Cold storage companies, eligibility of notes of customers Commissions on sales, request that claims of salesmen for deferred payments be considered basis for extension of credit Factors engaged principally in textile business in New York City, letter from Commercial Credit Co. on eligibility of paper of Federal Intermediate Credit Bank of Houston, permission to FRBank of Dallas to discount paper offered by Permission to FRBank to discount additional paper in amount stated Discount of additional eligible paper by FRBank approved Fidelity Savings State Bank, Topeka, Kans., permission to FRBank to rediscount paper acquired from nonmember banks by Finance company paper, reply to Li.. Woodward on statements released by National Association of Finance Companies on eligibility of Insurance premiums, request for ruling on eligibility for redis count of notes given in payment for Individuals, partnerships, and corporations: (See Loans) Live Stock National Bank, Sioux city, Iowa, permission to FRBank to rediscount paper acquired from nonmember banks by I - • -unicipal warrants with no definite maturity date, reply to Senator Dill that they are not eligible for purchase by FRBanks Notec of member banks offered through another member bank and secured by Government obligations, interpretation of ruling on maturity of Pages 11/18 426 8,79 136 10/6 12/23 278 562 Q/10 Q/31 142 193 12/30 594 11/23 459 7/13 37 7/19, 10/6 55 304 1W6 303 7/19 62 8/3 102 11/16 12/9 419 513 1W26 355 9/15 239 1g/23 574 7/19 rr JO 12/30 593 8/19 174 82 Pages • Rediscounts: (Continued) Paper of nonmember banks, advice to FRBank of Cleveland that applications will be considered when properly submitted 8/9 Paulding National Bank, Paulding, Ohio, permission to FRBank to rediscount paper acquired from Oakwood Deposit Bank Co. 8/24 Regional agricultural credit corporations with FRBanks, reply to FRBank of Minneapolis on authority 10/26 Opinion that FRBanks may legally rediscount eligible paper of 12/2 Letter to Governors of all FRBanks transmitting correspondence with FRBanks of Minneapolis and San Francisco on eligibility 12/9 Regional Agricultural Credit Corporations of Omaha and Wichita, reply to Governor Hamilton on discount of eligible paper by FRBank for 12/12 Scrap iron and steel, reply to Director General of Institute of Scrap Iron and Steel on classification as readily marketable staples 10/6 Security National Bank, Sioux City, Iowa, permission to FRBank to rediscount paper acquired from nonmamber banks by 7/13 South Carolina National Bank of Charleston, S. C., extension of period to rediscount paper acquired from nonmember bank 10/11 Toy National Bank, Sioux City, Iowa, permission to FRBank to rediscount paper acquired from nonmember banks by 8/19 Union Bank and Trust Co., Helena, Mont., extension of time for rediscounting paper acquired from nonmember banks 8/19 Van Camp Milk Co., Inc., eligibility of paper offered to FRBank of Chicago, question of requiring financial statement 7/26 Verhalen Nursery Co., proceeds of notes which are to be used for production or marketing of products, eligibility of 10/6 Warehouse receipts securing bankers acceptances issued by Lawrence Warehouse Company, eligibility of 10/6 Regional agricultural credit corporations: Discount of paper with FRBanks, reply to FRBank of Minneapolis on authority 10/26 Opinion that FRBanks nay legally rediscount eligible paper of 12/2 Letter to Governors of all FRBanks transmitting correspondence with FRBanks of Minneapolis and San Francisco on eligibility 12/9 Omaha and aachita, reply to Governor Hamilton on discount of eligible paper by FRBank for 12/12 Spokane, Wash., R. E. Towle granted leave of absence from Helena 3ranch for three months to organize 104 Leave extended for not over three months 12/23 Reoj_stry surcharges on currency shipments, letter to Post Office Department requesting that declaration of full value not be required 8/12 135 182 363 477 514 523 302 38 320 166 166 79 304 305 363 477 514 523 279 562 161 83 Pages Regulations, FRBoard: F, amendmenL to section IX not considered necessary G, rediscount of notes secured by adjusted service certificates, revised to comioly with recent amendment to law, approved and ordered printed Publication in FRBulletin authorized Remittance drafts: (See Clearing and colleet;ion) Reports of condition: (See Condition reports) Reserves: Andalusia National Bank, Andalusia, Ala., report of continued deficiency in Bank of Saginaw, Mich., report of continued deficiency in Reply to FRAgent at Chicago on unsatisfactory record of bank Banks deficient for less than six months, reply to Assistant FRAgent at Chicago that he need not report unless circumstances warrant Beech Creek National Bank, Beech Creek, Pa., report of continued deficiency in Carrollton National Bank, Carrollton, Ky., report of continued deficiency in Citizens and Security National Bank, St. James, Minn., report of continued deficiency in Further report by FRAgent on reserve record .Further report on deficiency in Citizens Commercial and Savings Bank, Flint, Mich., report of continued deficiency in Letter to FRAgent at Chicago on .Reply to FRAgent on unsatisfactory record of bank Citizens National Bank, Glasgow, Ky., report of continued deficiency in Citizens National Dank, Llano, Texas, report of continued deficiency in Citizens National Bank of Parkersburg, W. Va., report of continued deficiency in, now restored to required amount City National Bank, Georgetown, Texas, report of continued deficiency in City National Bank of Huntington Park, Calif., report of continued deficiency in City National Bank of Vachita Falls, Texas, report of continued deficiency in 1)revers State Bank, South St. Paul, Minn., report of continued deficiency in Further report by FRAgent on reserve record Elk Rapids State Bank, Elk Rapids, Mich., report of continued deficiency in Further report on unsatisfactory record, letter to directors suggested Erwin National Bank, Erwin, Tenn., report of continued deficiency in Exchange Bank, Tallahassee, Fla., report of continued deficiency in Exchange National Bank, Marietta, Pa., report of continued deficiency in 12,/8 501 8/10 8/31 142 193 9/15 9/2 231 205 9/21 256 11/21 439 11/18 426 12/14 527 10,4 11/12 12/2 289 403 468 9/2 9/7 9 /21 204 215 256 12/12 522 8/12 157 10/6 9/19 12/6 288 247 494 9/15 234 10/G 11/12 289 403 9/15 232 11/18 427 12/15 539 6/4 118 11/16 420 Pages 8 Reserves: (Continued) Farmers First National Bank, Rake, Iowa, report of continued deficiency in 12/8 Trust Co., Tipton, Ind., report of unsatisand Loan Farmers factory reserve record 9/15 Farmers National Bank of Glasgow, 4., report of continued deficiency in 9/15 FRBanks, charge offs to create and make additions, in connection with closing of books at end of 1932 12/23 First henry National Bank, Henry, Ill., report of continued deficiency in, letter to directors suggested 11/18 First National Bank of Abingdon, Va., report of continued deficiency in 12/6 First National Bank, Antioch, Ill., report of unsatisfactory reserve record 9/15 First National Bank, Ashton, Iowa, report of unsatisfactory reserve record 9/15 Report of continued deficiency in 11/21 First National Bank, Avoca, Mich., report of continued deficiency in 9/2 First National Bank of Bangor, Pa., report of continued deficiency in 12/19 First National Bank of Carrollton, Ohio, report of continued deficiency in 10/6 First National Bank, Channing, Texas, report of continued deficiency in 10/26 First National Bank, Chickasha, Okla., report of continued deficiency in 12/14 First National Bank of Coeburn, Va., report of continued deficiency in 1216 First National Bank of Gonneautville, Pa., report of continued deficiency in 1Q/6 First National Bank of Conrad, Mont., report of continued deficiency in 9/7 Further report on deficiency, no action at present 1Q/6 Further report by FRAgent on reserve record 11/12 Further report on continued deficiency 12/2 First National Bank, Darby, Pa., report of continued deficiency in 10/26 First National Bank of Egan, S. Dak., report of continued deficiency in 6/24 Further report on deficiency, no action at present 10/6 First National Bank of Foley, Minn., report of continued deficiency in 6/24 Further report on deficiency, no action at present Further report by FRAgent on reserve record Further report on continued deficiency First National Bank, Gallup, N. Mex., report of unsatisfactory reserve record First National Bank of Goodhue, "Jinn., report of continued deficiency in First National Bank, Graettinger, Iowa, report of unsatisfactory reserve record Further report on unsatisfactory record First National Bank of hale Center, Texas, report of continued deficiency in 'VG 102 12/2 11/2 12/2 9/15 11/2 9/15 502 233 234 576 427 494 235 235 439 205 543 287 352 527 494 287 215 289 403 468 349 184 269 186 289 403 468 379 468 233 378 234 85 Pages Reserves: (Continued) First National Bank, Harlingen, Texas, report of continued deficiency in First National Bank, Henry, 131., report of continued deficiency in First National Bank, Hillsdale, Lich., report of continued deficiency in Letter to FRAgent at Chicago on First National Bank, Indiana, Pa., report of continued deficiency in First National Bank, Iron River, nch., report of continued deficiency in Advice that reserves now restored to required mount First National Bank of Jackson, hy., report of continued deficiency in First National Bank, La harpe, Ill., report of continued deficiency in First National Bank, Lewisville, Ind., report of continued deficiency in Further report on unsatisfactory record and that bank has suspended First National Bank, Little Rock, Iowa, report of unsatisfactory reserve record Report of continued deficiency in . Further report on First National Bank of Livingston, Ill., report of continued deficiency in First National Bank, Lockney, Texas, report of continued deficiency in First National Bank in Lamaroneck, N. Y., report of continued deficiency in First National Bank, ileadaw, Texas, report of continued deficiency in First National Bank, Eontpelier, Ind., report of unsatisfactory reserve record Report of continued deficiency in Further report on unsatisfactory record ?irst National Bank of Northboro, Iowa, report of continued deficiency in Reply to FRAgent at Chicago on unsatisfactory record of bank First National Bank of Odin, Ill., report of continued deficiency in Report of unsatisfactory reserve record First National Bank, Paul, Idaho, reT)ort of continued deficiency in First National Bank, Perryton, Texas, report of continued deficiency in First National Bank, Ridge Farm, Ill., report of unsatisfactory reserve record First National Bank, L)ecor, Ill., report of unsatisfactory reserve record Report of deficiency in continued ,• iirst National Bank, 6odus, N. Y., report of continued deficiency in 1Q/11 321 9/15 232 9/2 9/7 205 215 100 591 9/7 1Q/6 215 290 1Q/6 287 1Q/26 351 9/15 232 108 427 9/15 1Q/26 11/12 233 351 402 9/15 234 12/19 543 1Q/26 349 7/8 18 9/15 1Q/26 13/2 233 350 378 9/15 233 9/21 256 11/2 58 379 10/26 352 1Q/11 321 9/15 233 9/15 233 107 582 1Q/26 349 86 Pages Reserves: (Continued) First National Bank of Stone Lake, Vas., report of continued deficiency in 11/12 First National Bank of Svanville, lann., report of continued deficiency in 8/24 Further report on deficiency, no action at present 10/6 Further report by FRAgent on reserve record 11/12 Further report on continued deficiency 12/2 First National Bank of Thief River Falls, Liinn., report of continued deficiency in 12/2 First National Bank, .inslow, Ind., report of continued deficiency in 12/12 First National Bank and Trust Co., Cambridge City, Ind., report of continued deficiency in 9/15 Further report of deficiency with opinion that bank is making effort to restore reserves 11/18 First National Bank and Trust Co. in Orlando, Fla., report of continued deficiency in 12/23 First Savings and Trust Co., Colfax, Viash., report of continued deficiency in 12/19 First State Bank, Lorenzo, Texas, continued deficiencies in, hearing on forfeiture of membership because of 7/20 Reserves restored but still in unsatisfactory condition, action on termination of membership deferred 12/6 (See also State member banks) Funds collected under Revenue Act and held for remittance to Collector of Internal Revenue are not subject to reserve requirements 9/7 Ruling to be published in FRBulletin 10/6 Greensburg National Bank, Greensburg, Ind., report of unsatisfactory reserve record 9/15 Reply to FRAgent at Chicago on record 9/21 Lycoming Trust Co., Williamsport, Pa., against deposits received in connection with certain personal loans 7/19 Marlin-Citizens National Bank, Marlin, Texas, report of continued deficiency in 11/21 Mechanics National Bank and Trust Co., Millville, N. J., report of continued deficiency in 11/12 Member banks in States requiring segregation of assets of conallercial department from assets of savings department, letter on carrying two separate reserve accounts with FRBank 7/29 Millersville National Bank, Millersville, Pa., report of continued deficiency in 11/21 Millington National Bank, Millington, Mich., report of continued deficiency in 9/2 Letter to FRAgent at Chicago with further reference to 9/7 National Bank of Commerce, Hugo, Okla., report of continued deficiency in 12/12 National Bank of Commerce in Los Angeles, Calif., now in liquidation, penalties collected for deficiencies since Jan. 11 to Lo returned to bank 12/23 National Bank of Port Sam Houston, San Antonio, Texas, reduction in required reserves approved 10/26 National Bank of Newport, N.Y., report of continued deficiency in 10/26 408 184 289 403 468 467 522 232 427 571 543 68 496 218 309 233 256 61 439 402 93 438 208 21.8 522 572 356 349 87 Pages Reserves: (Continued) National Bank of Pontiac, Ill., report of unsatisfactory reserve record National Bank of Summers, ilinton, Va., report of continued deficiency in National Exchange Dank, Viaukesha, Wis., report of continued deficiency in National Trust Bank, Charleston, Ill., report of unsatisfactory reserve record Neu London National Bank, Neu London, Iowa, report of unsatisfactory reserve record Park Savings Trust Co., Richmond heights, Mo., further report of continued deficiency in auldii National Dank, Paulding, Ohio, report of continued deficiency in Peoples Lmerican State Bank, Saginaw, Mich., report of unsatisfactory reserve record Peoples National Bank, i)elta, Pa., report of continued deficiency in Peoples National Dank, Seymour, 110., report of continued deficiency in Peoples Savings Bank, Coopersville, Mich., report of continued deficiency in Peeples State Bank of Milan, Mich., report of continued deficiency in Reply to FRAgent at Chicago on unsatisfactory record of bank Progressive penalties for continued deficiencies in, letters to FRBanks of Richmond and Kansas City on discontinuing assessment of Assessment to be discontinued effective Oct. 1 at iaBank of Kansas City Action mended to include deficiencies occurring after Sept. 1, 1932 Discontinued at FRBank of Richmond Putnam County Bank of Hurricane, Va., report of continued deficiency in Itigby National Dank, Rigby, Idaho, report of continued deficiency in Second National Bank of Erie, Pa., report of continued deficiency in Security National Bank, Randolph, 1ebr., report of continued deficiency in State Bank of Revere, Minn., report of continued deficiency in Stockt;rovers and Farmers National Bank, 4al1awa, Ore., report of continued deficiency in Lime certificates of deposit payable by one bank to another due within thirty days, reply to Mr. Gough on classification of U• S. Bank and Trust Co., Rochester, Ind., report of unsatisfactory reserve record likshington Savings Bank, iiashington, Mich., report of continued deficiency in Reply to FRAEent at Chicago on unsatisfactory record of bank 9/15 233 We 10/6 288 9,/15 232 9/15 233 9/15 233 11/12 403 12/23 571 9/21 256 11/21 438 12/3 503 10/26 351 9/7 215 9/21 256 10/6 310 10/6 310 11/12 10/26 404 362 7/29 94 10/6 290 7/12 27 12/23 12/23 571 571 12/12 522 9/21 262 9/15 233 9/2 205 9/21 256 88 Pagel; Reserves: (Continued) West End Bank, University City, report of continued deficiency in 9/7 Yakima Valley Bank and Trust Co., Yakima, Wash., report of continued deficiency in 9/19 Resolutions: Conference of Governors and FRAgents: Salaries of officers an employees at FRBanks should not be reduced at this time 12/5 Statement of Governor Norris giving views on 12/14 Federal Advisory Council: Section 10(b) and Section 3 of Glass-Steagall Bill, asking Congress to extend provisions of 12/5 FRBoard: Branch of National City Bank of New York in Geneva, Switzerland, order extending time for opening 10/11 Lausanne Conference: League of Nations to convoke conference on Monetary and Economic Questions, FRBoard to be represented on informal working committee 8/10 Open Market Policy Conference: Purchase of Government securities by Executive Committee authorized 7/14 Riddle, J. ii., present at meeting of FRBoard with Committee on Branch, Group, and Chain Banking 11/3 Robinson, President of United Engineers and Constructors, present at meeting of FRBoard in connection with supervision of addition to building of FRBank of Philadelphia 8/12 Rulings: Comptroller General of the United States: Cost of printing FRnotes, ruling that reduction cannot be made because of savings under Economy Act 8/31 Affirmation of previous decision, letter to FRBanks on 9/21 Questions arising under Economy Act, memo of Counsel on effect of 8/10 FRBoard: Certificates of deposit payable to other banks within thirty days, classification by member bank as demand deposits 102 Revision of Form 105 as result of ruling 12/2 Cold storage companies, eligibility of notes of customers for rediscount 10/6 Deposits received by member banks in connection with certain "personal loans", reserves should be maintained against 7/19 Funds collected for Collector of Internal Revenue not subject to reserve requirements, publication in FRBulletin 10/6 Insurance premiums, notes given in payment of, are eligible for rediscount 12/23 Maturity of notes of member banks offered through another member bank secured by Government obligations, interpretation of 8/19 214 247 489 531 488 326 145 44 390 153 199 261 144 410 482 304 309 574 174 89 Pages Rulings: (Continued) FRBoard: (Continued) Municipal warrants, reply to 21Bank of lanneapolis that FRBank may purchase direct from issuing municipality under certain conditions Warehouse receipts securing bankers acceptances proposed to be issued by Lawrence 'jarehouse Company, eligibility for rediscount 102 407 10/6 305 10/6 304 12/5 12/14 489 551 10/6 303 10/26 361 10/6 302 11/2 385 13/21 446 usn St. Louis Refrigerating and Cold Storage Co., reply to letter on eligibility of paper of customers for rediscount Salaries of officers and employees of FRBanks should not be reduced at this time, resolution adopted at meeting of FRAgents and Governors Staterent of Governor I:orris giving views on resolution (See also FRBanks) SalA letter from ;dr. delieney that claims for deferred payments of conrmissions on sales be considered basis for credit extension Sc araluelli and Co., Inc., loan under amendment to Sec. 13 of FRAct, letter to FRBank of New York that such loans be otherwise secured than by endorsement and guaranty Scrap iron and steel, reply to Director General of Institute of Scrap Iron and Steel, Inc., on classification as readily marketable staples --ary of the Treasury: Account current rendered by Treasurer on account of franchise tax receipts from FRBanks, no objection to furnishing Comptroller General with Annual report, to refrain from reference to report of Committee on Branch, Croup, and Chain Banking Report revised to eliminate all reference to summary report of committee Se2siens Clock Co., Forestville, Conn., advance by FRBank of Boston under third paragraph of Sec. 13 of FRAct as amended Share-the-work plans: Detroit Branch, raan involving reductions in salaries and addition of temporary employees Bank of Chicago, plan involving reductions in salaries and addition of 35 or 40 temporary employees FRBank of Cleveland, providing for reductions'in salaries and addition of temporary employees approved lank of Dallas, plan involving reductions in salaries of officers and employees and addition of temporary employees approved PR.Bank of Kansas City, not favored by directors at present time FRBank of Now York, plan outlined to FRBoard by Dr. Burgess Plan submitted and salary payments to temporary employees approved 102 449 102 399 12/27 583 12/27 583 102 523 12/30 589 12/30 590 330 10/11 102 413 90 Share-the-work plans: (Continued) FRBank of New York: (Continued) Report of Mr. Burgess on plan and permission to engage additional employees for temporary period Philadelphia, plan submitted and Secretary of the FRBank of Board to discuss with FRAgent the inequities in salary deductions Secretary on discussion with FRAgent, salary Report of reductions submitted through error and revised plan to be submitted Revised plan submitted and to be approved when approved by executive committee of bank Plan approved as modified and salary payments to temporary employees approved FRBank of San Francisco, involving reductions in salaries and addition of temporary employees approved Shofner, Howard B., payment of fee by FRBank of Atlanta in connection with indebtedness acquired from suspended bank Shoreham Investment Co., Inc., amount of space occupied by FRBoard calculated and verified and amount of monthly rental approved Silver as security for FRnotes, enactment of S. 4779 providing for use of, opposed by FRBoard Silver and minor coin, no objection to FRAgent at Atlanta holding in joint custody with FRBank for account of Treasurer of United States Smoot, Senator Reed, reply to letter on correctness of statements contained in speech of Congressman McFadden Sponable, Frank -,i., President of Miami County National Bank of Paola, Kansas, personal activities of, letter to FRAgent at Kansas City for information on Further correspondence on matters referring to S. Shuffs Sons, Inc., loan under amendment to Sec. 13 of FRAct, letter to FRBank of New York that such loans be otherwise secured than by endorsement and guaranty Staff of FRBoard: Charwomen: Allison, Eleanor, to be substituted on rolls of FRBoard for Rachel Williams Cunberland, Mary G., appointed to take place of Jeannette Thomas, deceased Williams, Rachel, transfer to roll of Treasury Department Division of Bank Operations: Iverson, Kenneth R.: Audit of reserve stock of incomplete FRnotes held by Bureau of Engraving and Printing, to represent FRBoard in Leave of absence without pay approved Smead, B. L., present at meeting of FRBoard and activities of Committee on Branch, Group, and Chain Banking reviewed Williams, Mary C., leave of absence without pay approved Pages 12/6 491 11/12 414 11/16 423 11/23 456 12/2 461 12/27 554 12/15 538 8/9 136 7/26 78 9/15 238 12/2 479 8/19 10/6 175 303. 1 10/26 361 ! 11/12 408 12/23 562 11/12 408 1 7/29 3 89 i 4/3 7/29 390 89 4 91 Pages Staff of FRBoard: (Continued) Division of Examinations: Maynard, Mrs. Marguerite C., appointment and salary as Secretary to 1Jr. Paulger Paulger, Leo h.: (See infra Examiners) Richardson, Mrs. Lulu G., transfer from office of ::r. Carter in connection with fiduciary work . .(See also Examiners) Division of Issue and Redemption: Lverett, Mary E., granted leave without pay for not over sixty days on account of illness Leave without pay extended for thirty days Leave without pay extended to Oct. 1 Gray, Mrs. Ruthette 1:1., resignation as Statistical Clerk Statistical Clerk, position abol5shed "Ohittaker, Mrs. Ruth, salary as Bookkeeper increased Williams, 1:rs. Maude, appointment and salary as Bookkeeper-Stenographer Division of Research and Statistics: Belsley, Mrs. Dorothy F., resignation because of application of provisions of Economy Act to husband employed by Civil Service Commission Bulla, Beatrice, leave of absence without pay to attend summer school Granted additional leave of absence on account of illness with pay Corder, ::rs. Mildred, temporary appoin ment and salary as Stenographer approved Dyer, Helen, leave of absence without pay approved Gardner, Walter R., authorized to go to Geneva to attend meeting of preparatory committee of experts of International Monetary and Economic Conference, but to take no official part Goldenweiser, E. A.: Activities of Committee on Branch, Group, and Chain Banking reviewed at meeting of FRBoard (See also Committees) Designated to serve on informal working committee for preliminary work in connection with Conference on Monetary and Economic Questions Vacation beginning Aug. 16 and then to remain at Cape Cod, Mass., to work on report of Committee on Branch, Group, and Chain Banking Hanford, Eleanor, resignation accepted and leave with pay granted Mason, Helen L, granted additional leave of absence on account of illness with pay Perry, Mrs. Katharyne gi., probationary appointment to clerical position and salary approved Rhodes, Thomas B., appointed member of committee to arrange for exhibit at Chicago ijorld Fair and also on executive committee Examiners: Brett, R. H., resignation as FRExaminer 10/11 7/1 320 2 0 8/31 10/6 8/9 8/9 8/9 1 192 277 128 128 128 8/9 128 11/3 391 7/7 10 10/26 348 103 562 7/29 . 89 10/11 332 11/3 390 8/10 145 8/10 138 8/19 165 10/26 348 12/20 554 04 187 11,/2 387 92 Pages Staff of FRBoard: (Continued) Exaniners: (Continued) Brawn, Stuart L., appointment as Assistant Examiner and salary approved 276 1Q/6 Chamberlin, R. B., transferred from field force to Viashington office 9/7 213 Comley, L. C., resignation as Assistant FRExaminer 11/2 387 Farrell, E. A., resignation as Assistant to accept position with Reconstruction Finance Corporation 88 7/29 Highfield, Carroll R., appointment and salary as Assistant FRExsniner 9/7 214 Lee, Andrew -a., appointed Assistant Examiner and salary 276 approved 10/6 Leonard, R. F., report on examination of trust department of Continental Illinois Bank and Trust Co., Chicago, Ill. 10/13 336 Liillard, Edwin R., appointment and salary as FRExaminer 11/23 455 Paulger, L. H.: Directed to make at least one examination of each FRBank during 1933 12/23 566 Examination of Continental-Illinois Bank and Trust Co., Chicago, Ill., to arrange for representation in 1Q/6 274 Report on examination of trust department of 1Q/13 336 Leave without pay while serving Reconstruction Finance Corporation extended to Sept. 30 8/9 136 Strahorn, Charles A., appointed Assistant Examiner and salary approved 276 1Q/6 Fiscal Agent: Certificate from General Accounting Office that account in name of M. Imlay had been examined and settled in full 9/7 214 Youlk, Oliver E., bond as Deputy 100 8/3 Furloughs granted to employees, reply to request of Secretary of Civil Service Commission for information on 12/23 574 Gold Settlement Fund: Mears, C. M., resignation as clerk on night force 11/23 453 Richardson, Harold B., appointment on night force approved 13/23 453 ;agginton, Norval P., resignation as employee on night force 1Q/6 277 Holidays, Christmas and Kau Years, offices of FRBoard to be closed on Dec. 24, 25, 26, and 31, and Jan. 1 and 2 12,/23 561 Leave of absence without pay for short periods to be approved by Secretary or Assistant Secretary of Board 7/29 89 Leave with pay granted upon resignation of employees, memo of Dr. Goldenweiser on 8/19 165 Lien to assist in arranging supply of FRBulletins, etc., in Shoreham Building, employment of two for not over five days authorized 8/31 192 Employment for two more days authorized 213 9/7 Mimeograph operator: Fletcher, 'a. T., leave of absence without pay approved 7/26 74 National Economy Act, application of provisions to FRBoard 7/19 63 93 Pages Staff of FRBoard: (Continued) Official register of the United States, list of officers and employees not to be furnished to Bureau of the Census for publication in List submitted to 'Director of Bureau and no objection to publication with salaries omitted Secretary's Office: Transfer of portion of budget to other divisions 'because of transfer of employees State rember banks: Albany State Bank, Albany, Ore., no objection to purchase of assets and assuming liabilities of First Savings Bank, but increase in capital account suggested Allegheny Trust Co., Pittsburgh, Pa., examination report showing own stock hold as collateral for loans and also unsatisfactory condition American Bank and Trust Co., hew Orleans, La., extension of advance under Sec. 10(b) of FRAct in reduced amount approved Continuance of advance in reduced amount approved Baden Bank, St. Louis, analysis of examination report, additional information requested Baltimore Commercial Bank, Baltimore, :d., analysis of examination report, FRAgent to discuss discontinuance of dividend payments with Bank Commissioner Baltimore Trust Co., Baltimore, Md., analysis of report of examination, FRAgent requested to give close attention to situation Bank of Commerce and Trust Co., ioston, Mass., assets purchased and liabilities assumed by United States Trust Co. of Boston Bank of Dawson, Ga., analysis of examination report showing unsatisfactory condition and own stock held in assets Bank of Depewr, B. Y.: Advance under Lee. 10(b) of FRAct approved hew advance approved, to cover existing advance and addition Renewal of advance approved Purchase of tax anticipation note of Town of Cheektowaga by FRBank of Now York Purchase of additional tax note approved Purchase of additional tax note approved Bank of Kalamazoo, Mioh., letter to FRAgent at Chicago on possible reduction of indebtedness of officers and directors to Bank of Manhattan Trust Co., New York City, examination in connection with reorganization of Manhattan Co. and application of Bank of Manhattan Co. for membership Cancellation of FRBank stock authorized (See also 1:,enbership, Bank of Manhattan (Jo.) 7/19 62 9/19 249 7/13 38 11/12 406 7/0 19 10/11 12/12 318 518 11/21 441 102 405 7/26 77 12/23 569 11/18 4.30 7/19 54 10/6 12/23 232 56A- 7/29 10A 92 167 285 12/30 592 11/18 1)121 432 445 q/19 94 Pages State member banks: (Continued) Bank of Nutley, N. J., purchase of tax notes of Town of Nutley by FRBank of New York from 12/19 Bar* of Saginaw, Mich., report of continued deficiency in reserves 9/2 Reply to FRAgent at Chicago on unsatisfactory record of bank 9/21 Bank of Yibodburn, Ore., assets acquired and liabilities assumed of First National Bank of Woodburn 7/29 Blanchard State Bank, Blanchard, Mich., analysis of examination report, additional information requested 4/21 Brown City Savings Bank, Brown City, Mich., reorganization and reopening of, examination to be made 11/2 Capital stock of bank located beyond limits of city in which member bank is situated, reasons for denying permission to organize and acquire 10 Carbon Emery Bank, Price, Utah, consolidation with Price Commercial and Savings Bank under charter of latter and title of former 9/15 Central Republic Bank and Trust Co., Chicago, Ill., deposit liabilities to be assumed by City National Bank and Trust Co. for equal amount of cash and management contract for servicing trusts 10/5 Permission to withdraw from membership immediately because business of deposit and discount discontinued 10/26 Central Trust Co., Cincinnati, Ohio, method of reporting real estate mortgage bonds sold to customers with guaranty of payment by Pearl Market Bank and Trust Co. 10/6 Method of reporting on Form 105 10/13 Chagrin Falls Banking Co., Chagrin Falls, Ohio, request for additional information on certain matters referred to in examination report 12/2 Chemical State Savings Bank, Midland, Mich., absorption of Peoples State Savings Bank of Midland, and capitalization inadequate to support deposit liabilities 7/12 Chouteau Trust Co., St. Louis,Mo., request for details on removal of first mortgage bonds from accounts 12/2 Citizens Bank and Trust Co., Savannah, Ga., own stock held as collateral to liquidation account of another bank, extension of time for disposal of 7/8 Citizens Commercial and Savings Bank, Flint, Mich, report of continued deficiency in reserves 9/2 Letter to FRAgent at Chicago on 9/7 Reply to FRAgent at Chicago on unsatisfactory rocord of bank 9/21 Citizens State Bank, Jamestown, Ind., permission to FRBank of Chicago to rediscount paper acquired from State Bank of Lizton, Ind. 7/13 Citizens State Bank, Marianna, Fla., unsatisfactory condition disclosed by analysis of examination report 12/2 Citizens State Bank, Memphis, Texas, immediate withdrawal from membership approved 8/9 Citizens State Bank, Sheboygan, Wis., analysis of examination report, additional information requested 4/21 545 20 I 266' 96 441 361 365 236 265 364 300 336 470 26 472 20 204 216 256 37 471 130 441 95 Pages State member banks: (Continued) Citizens Trust Co., Adams, N. Y., consolidation with Farmers National Bank under title of Citizens and Farmers Trust Co. Cleveland Trust Co., Cleveland, Ohio, assets acquired and liabilities assumed of Peoples Savings Bank, Lorain, action deferred Coffman Dobson Bank and Trust Co., Chehalis, Wash., assets acquired and liabilities assumed of First National Bank of Chehalis Commonwealth Trust Co. of Pittsburgh, Pa., awn stock taken as additional security for loans, disposition of Holding of own stock as collateral for loans and manner of holding criticized Condition reports: Call as of June 30 Call as of Sept. 30 Continental Bank and Trust Co., New York City, absorption of Straus National Bank and Trust Co., International Trust Co., and Industrial National BrInk Continental-Illinois Bank and Trust Co., Chicago, Ill.: Conversion into national bank Examination report considered and application for fiduciary powers on behalf of national bank approved upon conversion Note signed by E. M. Stevens and secured by shares of stock of, while a Class C director of FRBank of Chicago Crawford County Trust Co., Meadville, Pa., analysis of examination report shaming unsatisfactory condition Dallas Bank and Trust Co., Dallas, Texas, analysis of examination report shows holdings of most of capital stock of Dallas Title and Guaranty Co. which has notes secured by member banks own stock Detroit Savings Bank, Detroit, Mich., analysis of examination report discussed and reduction in rate of dividends suggested Dime Savings and Trust Co., Allentown, Pa., immediate withdrawal approvod Drovers State Bank, South St. Paul, Minn., report of continued deficiency in reserves Steps taken by State Bank Commissioner to improve unsatisfactory condition and letter to FgAgent on Further report by FRAgent on reserve record Earnings and dividends report, revised form and letter of instructions approved Elk Rapids State Bank, Elk Rapids, Mich., report of continued deficiency in reserves Further report on unsatisfactory record, letter to directors suggested Equitable Trust Co., Atlantic City, N. J., indebtedness to FRBank of Philadelphia discussed by Governor Norris Exchange Dank, Tallahassee, Fla., report of continuous deficiency in reserves 9/15 237 10/26 357 Q/31 197 9/21 259 12/23 569 7/1 10/6 1 275 7/1 3 10/6 272 1Q/13 336 12/19 551 12/23 570 12/2 474 109 544 Q/3 103 1Q/6 289 291 10/ 4 6 102 403 12114 529 9,715 232 108 427 12/15 534 8/4 118 96 Pages State member banks: (Continued) Exchange Bank, Tallahassee: (Continued) Immediate withdrawal from membership approved 4/2 Erie County Banking Co., Vermilion, Ohio, holding own stock as collateral to loan and also has loan in excess of limitations prescribed by State law 10/6 Examination of, list of those not examined during 1932 to be furnished FRBoard 100 Farmers and Merchants BAnk, 6ebewaing, Mich., condition as reflected in analysis of examination report 8/24 Farmers and Merchants State Bank of Seneca, Wis., criticisms to be discussed with State Banking Department and procedure if withdrawal from membership is deemed necessary 12/2 Farmers and Traders Bank, Iberia, Mo., immediate withdrawal from membership approved 12/15 Farmers Loan and Trust Co., Tipton, Ind., report of unsatisfactory reserve record 9/15 Farmers State Guaranty Bank, Valiant, Okla., analysis of examination report showing unsatisfactory condition 109 Fayette Bank and Trust Co., Connersville, Ind., disposal of own stock now carried as shown by examination report 10/6 Fidelity Savings State Bank, Topeka, Kans., permission to FRBank to rediscount paper acquired from nonmamber banks by 12/26 First Central Trust Co., Akron, Ohio, examination report presented by 42s. LeCamp and proposed purchase of First-City Savings Bank of Barberton discussed 10/26 First-City Savings Bank, Barberton, Ohio, proposed purchase of assets by First Central Trust Co., Akron, discussed by Mr. DeCamp 10/26 First Savings and Trust Co., Colfax, Nash., report of continuous deficiency in reserves 12/19 First State Bank, Bishop, Texas, immediate withdrawal from membership approved 9/21 First State Bank of Brownsville, Tenn., immediate withdrawal from membership approved 12/19 First State Bank, Lorenzo, Texas, hearing on forfeiture of membership because of continued deficient reserves 7/20 Date of hearing changed to Sept. 15 and revised letters forwarded 8/3 Report of appearance of representative of bank before FRAgent at Dallas and action deferred and further opportunity to comply with conditions 10/6 Reserves restored but still in unsatisfactory condition, action on termination of membership deferred 12/6 Forney State Bank, Forney, Texas, analysis of report of examination submitted and action on termination of membership deferred 10 Franklin Washington Trust Co., Newark, N. J., renewal of advance under Sec. 10(b) of FRAct approved 9/7 Renewal of advance in reduced amount and additional advance approved 102 380 300 50 185 472 539 253 544 299 356 345 545 543 257 545 68 105 294 496 380 212 518 State member banks: (Continued) Georgia ::.avings Bank and Trust Co., Atlanta, Ga., advance under Sec. 10(b) of FRAct, other collateral to be substituted for bonds of corporation affiliated with foreign corporation Advance to be continued without demand for payment denewal of advance approved Additional advance approved Greenwood Bank and Trust Co., Greenwood, -ass., analysis of examination report, letter on improvement in criticized matters Guarantee Trust Co., Atlantic City, i,. J., indebtedness to FRBank of Philadelphia discussed by Governor Norris Guardian Trust Co., Cleveland, Ohio, examination report received by r. DeCamp and to be discussed with FRBoard Analysis of report presented by Jr.: DeCamp, action deferred copy of report forward and Mr. DeCamp to Report of examination showing notes held in assets sir;ned by Governor Fancher and 1.1r. DeCamp Hibernia Bank and Trust Co., Ne Orleans, La., analysis of examination report, FRAgent and Governor of Manic to aid bank to better its condition State Bank, hinsdale, Ill., immediate withdrawal from membership approved Illinois Bank and Trust Co., Rockford, Ill., to convert into Illinois National Bank and Trust Co., permit to exercise fiduciary powers will be issued under conditions stated Int ernational Trust Co., New York City, absorbed by Continental Bank and Trust Co. 1°1a State Bank, Iola, Texas, notice of intention to withdraw from membership filed and waiver of six months notice refused Jefferson Bank and Trust Co., St. Louis, do., no objection to exercise of trust powers granted to Jefferson Trust Co., Hoboken, N. J., renewal of advance under Sec. 10(b) of FRAct approved Additional advance approved Renewal of advance in reduced amount approved Junction State Bank, Junction, Texas, action on termination of membership deferred and further opportunity to improve condition Kanawha Valley Bank, Charleston, W. Va., holding of own stock as collateral to loans Kentucky Title Trust Co., Louisville, Ivy., efforts to correct matters criticized in recent examination report Leesburg State Bank and Trust Co., Leesburg, Fla., unsatisfactory condition shown by examination, no action until after another examination Liberty Trust Co., Allentown, Pa., immediate withdrawal from membership approved Pages 8/3 9/15 12/6 12/23 111 229 498 565 12/2 473 12/15 534 10/11 327 10/26 343 11/23 457 12/12 521 8/12 157 11/12 401 7/1 4 11/21 440 8/3 109 9/7 11/12 12/5 211 395 485 10/6 293 12/23 570 11/2 382 11/2 382 8/31 196 98 Pages State member banks: (Continued) Linden Trust Co., Linden, N. J., absorption of Linden National Bank, no objection to transaction but FRAgent to discuss increase in capital with bank 12/12 Live Stock State Bank, North Portland, Ore., application for immediate withdrawal denied but FRI3ank to cancel stock after six months 8/31 Remainder of six months period waived and immediate withdrawal approved 108 Lock haven Trust Co., Lock Haven, Pa., consolidation with Clinton Trust Co., under new charter and application of new bank for membership 8/10 Lycoming Trust Co., Williamsport, Pa., reserves must be maintained against deposits received in connection with certain personal loans 7/19 Manchester Trust Co., South Manchester, Conn., analysis of examination report showing unsatisfactory condition 12/30 Mercantile Bank and Trust Co. of Texas, Dallas, Texas, analysis of examination report showing control of banking institutions through wholly owned subsidiary 12,/2 Merchants Banking Trust Co. of Mahanoy City, Pa., irregularities referred to in analysis of examination report 10/26 Mississippi Valley Trust Co., St. Louis, ;Jo., ownership of capital stock of Mississippi Valley Go. which issues guaranteed first mortgage certificates 9/7 Memoranda of Mr. Wingfield and Mr. Smead on extent and possible restriction of such business and information to be submitted by all member banks with next condition reports 106 Monroe County Bank, Dundee, Mich., absorption of Dundee State Savings Bank, no objection to 10/26 North York State Bank, York, Pa., assets acquired and liabilities assumed by York Trust Co. 9/7 Ogdensburg Trust Co., Ogdensburg, I. Y., noncompliance with condition of membership on credit data in connection with unsecured loans and holding own stock as collateral to loans 10/6 Pacific State Bank of South Bend, 'Wash., establishment of trust department approved 7/12 Park City State Dank, Park City, Mont., improvement in condition or, but additional information on loan to director not adequately secured requested 12/6 Park Savings Trust Co., Richmond Heights, /Jo., report of examination showing impaired capital 10 Further report on continued deficiency in roserves 102 Penn Trust Co., Allentown, Pa., immediate withdrawal approved because absorbed by another bank 8/4 Pennsijlvania Company for Insurances on Lives and Granting Annuities, Philadelphia, Pa., permission to organize bank in Ardmore and acquire most of capital stock disapproved 10/ 4 26 519 197 429 139 61 591 474 359 219 421 357 211 296 30 495 362 405 119 356 99 State member banks: (Continued) Pennsylvania Company for Insurances: (Continued) Governor Norris present at meeting and discussion of organization of Main Line Trust Co. of Ardmore and connection with member bank, and attitude toward application of new bank for membership Messrs. Austin and Brittain present at meeting of FRBoard and further discussion of organization of trust company and holding of stock by Pennsylvania Company Peoples American State Bank, Saginaw, Mich., report of unsatisfactory reserve record Peoples Bank, Bishopville, S. C., violations of conditions of membership indicated by analysis of examination report Peoples Bank and Trust Co., Passaic, N. J., advance under Sec. 10(b) of FRAct approved Renewal of advance in reduced amount approved reoples Pittsburgh Trust Co., Pittsburgh, Pa., analysis of examination report showing awn stock held as part collateral to loans and other criticized matters Peoples Savings and Trust Co. of Nanticoke, Pa., criminal irregularities involving certain employees Peoples Savings Bank, Coopersville, Mich., report of continuous deficiency in reserves PeOple8 State Bank of Milan, Mich., report of continued deficiency in reserves Reply to FRAgent at Chicago on unsatisfactory record of bank Peoples Trust Co., Martinsburg, W. Va., disposition of own stock held as collateral for loans Permission to organize and acquire capital stock of bank to be located beyond limits of city, reasons for denying request Perth Amboy Trust Co., Perth Amboy, N. J., purchase of tax notes of City of Perth Amboy, N. J., by FRBank of New York from Petersburg Savings and American Trust Co., Petersburg, Va., disposition of shares of own stock held by igeon State Bank, Pigeon, Mich., analysis of report of examination, corrective measures suggested to FRAgent neonning State Bank, Pinconning, Mich., expiration of six months notice of intention to withdraw, granted thirty days to make necessary corrections in condition President and Directors of the Manhattan Co., New York City: Acceptances to 100 per cent of capital and surplus, application on for permission granted Dollar exchange, application to accept for purpose of creating approved p (See also Membership, Bank of Manhattan Co.) rice Commercial and Savings Bank, Price, Utah, consolidation with Carbon Emery Bank under title of latter and charter of former Pages 12/15 536 12/19 546 9/21 256 7/19 57 7/12 10/11 26 318 13/12 404 10/26 359 10/26 351 9/7 215 9/21 256 8,/i2 157 11/2 385 106 419 8/19 171 12/6 495 11/23 455 11/21 445 11/21 445 9/15 236 100 Pages State member banks: (Continued) Putnam County Bank of Hurricane, W. Va., report of continued deficiency in reserves 7/29 Quincy, :ass., authority to FRBank of Boston Co., Trust Quincy to make advances under Sec. 10(b) of FRAct extended 7/1 Authority extended to July 29 7/19 Authority extended to Aug. 12 7/29 Authority extended to Aug. 26 Authority extended to Sept. 9 8/31 Authority extended to Sept. 23 9/8 Authority to make advances amended so as not to exceed 500,000 Authority extended for thirty days 0,/ 5 19 Advance repaid and authority to make new advance for thirty days 10/6 Rahway Trust Co., Rahway, N. J., advance under Sec. 10(b) of FRAct approved 8/12 St. Joseph Loan and Trust Co., South Bend, Ind., savings deposit liability of Mishawaka St. Joseph Loan and Trust Co. assumed by, no action until after examination 10/26 Savannah Bank and Trust Co., Savannah, Ga., shares of own stock held in assets to be disposed of by end of year 7/29 Savings Investment and Trust Co., East Orange, N. J., purchase of tax notes of City of East Orange by FRBank of New York from 12/27 Schuylkill haven Trust Co., Schuylkill Haven, Pa., assets acquired and liabilities assumed of State Bank of Schuylkill Haven 8/9 No objection to absorption 12/12 State Bank of Revere, Linn., contempated change in location to Walnut Grove, rinn. 7/1 Report of continuous deficiency in reserves 12/25 Stock acquired in other banking institutions by, right of FRBoard to refuse permission or approval 10 Sundance State Bank, Sundance, Wyo., effect of absorption of Hulett State Bank, Hulett, Wyo., FRAgent to make recommendation 7/12 Twin City Bank, North Little Rock, Ark., letter from FRAgent on improvement in condition and no action on membership to be taken until after conference of FRAgent with President of bank 4/21 Union Bank and Savings Co., Bellevue, Ohio, analysis of examination report, FRAgent to discuss condition of bank with State Superintendent of Banks 12/2 Union Bank and Trust Co., nelena, Mont., extension of time for rediscounting paper acquired from nonmember banks 8/19 Union Bank and Trust Co., Ottumwa, Iowa, time for elimination of note from assets extended for one year 8/4 Union Trust Co., Lllsworth, re., Treasurer relieved of executive authority for inefficiency and steps to be taken to improve condition 10/6 Examination of bank to be arranged and suspension of dividend payments reconlmended 12/2 94 3 53 90 154 195 224 25 8" 251 3.54 356 94 581 134 320 4 571 392 26 441 471 166 120 290 469 101 State member banks: (Continued) Union Trust Co., Endicott, i. Y., no objection for time being to retention of shares of bank stocks purchased United States Trust Co. of i3oston, Mass., assets purchased and liabilities assumed of Bank of Commerce and Trust Co., no objection to transaction but FRAgent to participate in next examination Wachovia Bank and Trust Co., Winston-Salem, N. C., analysis of exmination report, letter to FRAgent for information on payment of unearned dividends and other matters Washington Savings Bank, jashington. :ache, report of continued deficiency in reserves Reply to FRAgent at Chicago on unsatisfactory record of bank • B. Worthen Go., Bankers, Little Rock, Ark., analysis of examination report, additional information requested Aest End Bank, University City. Mo., report of continued deficiency in reserves 'Wheaton Trust and Savings Bank, Viheaton, Ill., application for reduction in capital stock cannot be approved Reduction cannot be approved because of capital requirements of FRAct and capital must be increased within six months Wilmington Trust Co., Wilmington, Del., loans to officers and employees for purchase of stock of bank, plans for elimination of Abedlawn Trust Co., Aliquippa, Pa., assets acquired and liabilities assumed of Aliquippa National Bank 13breester Bank and Trust Co., Worcester, Mass., authority to FRBank of Boston to make advances under Sec. 10(b) of FRAct extended Authority extended to July 29 .Authority extended to Aug. 12 Ye-4ma Valley Bank and Trust Co., Yakima, Wash., report of continued deficiency in reserves York Trust Co., York, Pa., assets acquired and liabilities assumed of North York State Bank, also loans carried partly secured by own stock Stati— . bzics furnished to FRBoard by Department of Commerce, reply to letter on usefulness of Steuart (See Census Bureau) 4141eld, Mackall, Crounse, McNally, and Moore, attorneys, request for any ruling on authority of trust officer of national bank to withdraw securities pledged with tryst department and subStock: stitute other securities Pages 10/6 298 12/23 568 102 521 9/2 205 9/21 256 11/21 441 9/7 214 8/31 196 10/6 302 9/21 257 4/3 110 7/1 7/29 2 53 90 9/19 247 9/7 217 102 451 StinOLX1: Capital: Albany State Bank, Albany, Ore., increase to provide proteotion for additional deposits assumed from First Savings Bank Allegheny Trust Go., Pittsburgh, Pa., examination report showing own stock held as collateral for loans 8/31 198 102 406 7/8 19 102 Pages Stock: (Continued) Capital: (Continued) Ballston Spa National Bank, Ballston Spa, K. Y., reduction approved and then to be increased 7/19 Bank of Dawson, Ga., shares of awn stock held in assets to be eliminated 11/18 Bank to be located beyond limits of city in which member bank is situated, reasons for denying permission to State member bank to organize and acquire 1V2 Chemical State Savings Bank, Midland, 3.1.ich., inadequate to support deposit liabilities, FRAgent requested to take action 7/12 Citizens Bank and Trust Co., Savannah, Ga., own stock held as collateral to liquidation account of another bank, extension of time for disposal of 7/8 Commonwealth Trust Co., Pittsburgh, Pa., own stock Laken as additional security for loans, disposition of 9/21 Holding of own stock in safe deposit box as collateral for loans in violation of law 12/23 Continental Illinois Bank and Trust Co., Chicago, Ill., notes signed by E. B. Stevens, secured by, while a class C director of FRBank of Chicago 12/19 Dallas Bank and Trust Co., Dallas, Texas, analysis of examination report shows holding of most of stock of Dallas Title and Guaranty Co. which has notes secured by stock of member bank 12/2 Erie County Banking Co., Vermilion, Ohio, holding own stock as side collateral to loan 10/6 Fayette Bank and Trust Co., Connersville, Ind., disposal of shares of own stock now carried 10/6 First; National Bank, Hardin, Mont., application for reduction 11/2 First National Bank, Hoboken, N. J., reduction approved 12/9 First National Bank, Jacksboro, Texas, reduction approved 12/9 First National Bank of Lavonia, Ga., reduction approved lq/11 First National Bank of Morris, E. Y., reduction approved and then to be increased 8/3 First National Bank of Parkers Landing, Pa., reduction approved 12/12 First National Bank of the Thousand Islands, Alexandria Bay, L. Y., reduction approved and then to be increased 13/3 First National Bank of Woodstown, N. J., increase in connection with exercise of fiduciary pow3rs 11/23 Holding by George J. Schaller in member banks, questioned in connection with appointment as deputy governor at FRBank of Chicago 12/27 Advice that stock holdings will be disposed of before entering upon duties 12/30 Impaired of existing banks, statement of Conference of FRAgents on restoration of 12/5 Kanawha Valley Bank, Charleston, T. Va., holding shares of awn stock as part collateral to loans 12/23 56 430 385 I 28 20 259 569 551 474 300 299 350 514 515 321 106 522 106 454 565 596 489 570 103 Stock: (Conti)'lued) Capital: (Continued) Manhattan Company, New York City, holding of stock of County Trust Co., Valite Plains, and Corning Trust Co. and North Side State Bank, Corning, L. Y. Disposition of stock discussed with Mr. Warburg in connection with reorganization of Manhattan Co. and application of Bank of Manhattan Co. for membership Disposition of stock discussed by Mr. Paulgor and opinion of officers of bank that it can not be disposed of advantageously at present time L Merchants National Bank in Plattsburg, Y., condition for exercise of trust powers that capital be increased within one year not to be insisted upon at present Letter to Acting Comptroller of the Currency for advice as to steps to be takon by his office as result of latest examination of bank Increase not effected as required as condition for exercise of fiduciary powers and letter to Acting Comptroller of the Currency on impaired capital Ogdensburg Trust Co., Ogdensburg, N. Y., holding own stock as collateral to loans Park Savings Trust Co., Richmond heights, :!o., report of examination showing impairment of Peoples-Pittsburgh Trust Co., Pittsburgh, Pa., own stock held as part collateral to loans Peoples Trust Co., Martinsburg, VI. Va., disposition of own stock held as collateral for loans Petersburg Savings and American Trust co., Petersburg, Va., disposition of shares of own stock held by Savannah Bank and Trust Co., Savannah, Ga., shares of own stock held in assets to be disposed of by end of year union Trust Co., Endicott, N. Y., no objection for time being to retention of shares of bank stocks purchased 'Wheaton Trust and Savings Bank, Wheaton, Ill., application for reduction cannot be approved Reduction cannot be approved and capital must be increased within six months Wilmington Trust Co., Ailmington, Del., loans to officers and employees for purchase of, plans for elimination of loans WYoming National Bank, Casper, Wyo., reduction not approved York Trust Co., York, Pa., analysis of examination report showing loans partly secured by shares of ovm stock 8t°ek, FRBank: PRBank of Atlanta: Bank of Davison, Dawson, Ga., surrender approved 13ank of Statesboro, Statosboro, Ga., application approved Pages 11/3 392 11/18 432 1)121 443 8/3 107 10/26 353 12,/2 470 10/6 298 11/2 382 102 405 8/12 157 8/19 171 7/29 94 10/6 8/31 298 196 10/6 302 9/21 10/26 257 355 9/17 217 8/10 7/26 147 86 104 Page Stock, FRBank: (Continued) FRBank of Atlanta: (Continued) Calcasieu National Bank, Lake Charles, La., surrender Capital National Bank, Jackson, lass., surrender approved Coral Gables First National Bank, Coral Gables, Fla., surrender approved Ensley National Bank, Birmingham (Ensley), Ala., surrender First National Bank, Abbeville, La., surrender approved First National Bank, Arlington, Ga., surrender approved First National Bank in Bristol, Tenn., application approved First National Bank, Bristol, Tenn., surrender approved First National Bank, Coal Creek, Tenn., surrender approved First National Bank, Enterprise, Ala., surrender approved First National Bank, Etowah, Tenn., surrender approved First National Bank, Homestead, Fla., application approved First National Bank, Lavonia, Ga., surrender approved First National Bank, Lincoln, Ala., surrender approved First National Bank, :alien, Ga., surrender approved First National Bank, Reynolds, Ga., surrender approved 141 8/10 8/10 147 11/2 12/30 388 598 8/24 191 1V5 6 3 24647 12/30 599 9/2 21° 10/26 368 87 7/26 10/26 367 511 12/8 599 12/30 12/30 599 487 17 8/10 5 12/23 First National Bank, Sevierville, Tenn., surrender approved 10/6 316 First National Bank, Sylacauga, Ala., surrender approved 178 8/19 First National Bank, Thomasville, Ga., surrender approved 10/11 328 87 First National Bank, Waynesboro, Miss., surrender approved 7/26 Fourth and Arst National Bank, Nashville, Tenn., surrender 10/26 366 Hamilton National Bank, Johnson City, Tenn., application 314 10/6 Holston National Bank, illizabethton, Tenn., surrender 8/3 115 Liberty National Bank and Trust co., Savannah, Ga., 86 application approved 06 Peoples Bank, Evergreen, Ala., surrender approved 8/19 178 Unaka and City National Bank, Johnson City, Tenn., surrender approved36 8 1Q/26 , , FRBank of Boston: Atlantic National Bank, Boston, Lass., surrender approved 02 35 City National Bank, Belfast, i.:e., surrender approved 8/24 190 1 16 , Cohasset National Bank, Cohasset, Hass., surrender approved 7/7 Day Trust Co., Boston, Mass., application approved 221 0 Derry National Bank, Derry, N. H., efforts to secure cancellation because of absorption by First National Bank 8/19 171 Surrender approved 10/11 328 65 First National Bank, Northampton, Mass., surrender approved 09 First National Bank, Portland, Uo., surrender approved 8/24 190 First National Bank, Van Buren, Mo., surrender approved 8/24 190 Fort Fairfield National Bank, Fort Fairfield, Me., surrender approved 8/24 19° Inman Trust Co., Cambridge, Mass., surrender approved 66 09 Kezar Falls National Bank, Kezar Falls, Me., surrender 8/24 19° Lakeport National Bank, Lakeport, N. H., surrender approved 12/2 40 Leominster National Bank, Leominster, Mass., surrender 102 416 Merchants National Bank, New Raven, Conn., surrender Q/24 190 Merrimack National Bank, Haverhill, Mass., surrender Q/24 190 Millers River National Bank, Athol, Mass., surrender 9/2 21° National Tradesmens Bank and Trust Co., New Haven, Conn., surrender approved 462 12/2 Safe Deposit National Bank, Neu Bedford, :,ass., surrender 66 7/19 105 Stock, FRB(: (Continued) FRBank of Boston: (Continued) Strafford National Bank, Dover, N. H., surrender approved PRBank of Chicago: Alliance National Bank, Chicago, in., surrender approved Altona National Bank, Altona, Ill., application approved Bank of Saginaw, Mich., surrender approved Bay Viva' National Bank, Milwaukee, Vas., surrender approved BoNranville National Bank, Chicago, Ill., surrender Buchanan County National Bank, Independence, Iowa, surrender approved Cedar Rapids National Bnnk, Cedar Rapids, Iowa, surrender City National Bank of Lansing, Mich., efforts to effect cancellation of Absorbed by Capital National Bank, no authority to cancel stock until placed in liquidation or receivership City National Bank and Trust Co., Chicago, Ill., application approved Clay County National Bank, Spencer, Iowa, application tr C oZ .al =za slBletl:,Zzl uz,II 0z, surrender surrender approved Commercial Savings Bank, Marshall, Mich., application Consolidated National Bank, Dubuque, Iowa, surrender Douglass National Bank, Chicago, Ill., surrender approved Edmore State Bank, Edmore, Mich., surrender approved El Paso National Bank, El Paso, Ill., application approved Farmers Bank, Mason, Mich., application approved 11,Fmers National Bank in Vinton, Iowa, surrender approved l'irst American National Bank and Trust Co., Berwyn, Ill., surrender approved First National Bank, Ackley, Iowa, surronder approved First National Bank, Altona, iii., surrender approved First National Bank in Aurora, Ill, surrender approved First National Bank in Champaign, Ill., application First National Bank, Eldora, Iowa, surrender approved First National Bank, Gardner, Ill, surrender approved First National Bank, Hindsboro, Ill., surrender approved First National Bank, Hinsdale, Ill., application approved First National Bank, Indianola, Iowa, surrender approved First National Bank, Leland, Ill., surrender approved First National Bank, Le Mars, Iowa, surrender approved First National Bank, Lewisville, Ind., surrender approved First National Bank, Ilaquoketa, Iowa, surrender approved First National Bank, Marengo, Ill., surrender approved First National Bank, Martinsville, Ind., surrender approved First National Bank, Northboro, Iowa, surrender approved First National Bank, Lorthwood, Iowa, surrender approved First National Bank, Oneida, Ill., surrender approved First National Bank, Paullina, Iowa, application approved First National Bank, Riverside, Ill., surrender approved First National Bank, Sheffield, Ioaa, surrender approved First National Bank in Sioux Rapids, Iowa, surrender First National Bank, Story City, Iowa, surrender approved First National Bank, Thompson, Iowa, surrender approved Pages 9/2 210 7/12 7/8 11/21 11/2 7/12 35 23 448 388 35 8/19 10/26 178 368 8/12 156 10/27 372 10/11 327 315 10/6 8/19 179 7/12 35 11/21 147 8/19 179 113 8/3 8/24 391 8/31 203 8/19 178 65 7/19 9/15 10/6 12/14 8/19 8/31 9/2 8/3 12/8 12/2 9/2 10/11 7/12 102 7/19 9/15 8/3 12/2 12/8 02 8/24 7/19 7/26 10/6 13,/3 T/12 244 314 533 178 203 210 113 511 482 210 328 35 417 65 244 113 483 511 35 190 65 87 315 394 35 106 Pages Stock, FRBank: (Continued) FRBank of Chicago: (Continued) First National Bank, MImette, Ill., surrender approved 8/10 First National Bank and Trust Co., Baraboo, Iris., surrender 12/2 First National Bank and Trust Co., Chicago Heights, Ill., surrender approved 8/24 First National Bank and Trust Co. in Pontiac, Mich., surrender approved 9/15 Greenfield Savings Bank, Greenfield, Iowa., surrender 7/19 Greenup National Bank, Greenup, Ill., surrender approved 11/2 Hedrick National Bank, Hedrick, Iowa, surrender approved 1312 Hillsdale Savings Bank, Hillsdale, .1.ich., application Hyde Park-Kenwood National Bank, Chicago, Ill., surrender Iowa State Dank, Algona, Iowa, application approved 1 8 7 9 88 1 537 112 99 Iowa State Savings Bank, Fairfield, Iowa, application Jackson Park National Bank, Chicago, Ill., surrender Jefferson Park National Bank, Chicago, Ill., surrender / Kaspar American State Bank, Chicago, Ill., surrender 8/10 Lake County National Bank, Libertyville, Ill., surrender 8/10 Lapeer County Bank, Imlay City, ijich., surrender approved 109 Lawndale National Bank, Chicago, Ill., surrender approved 12/2 Lincoln National Bank and Trust Co., Fort Wayne, Ind., surrender approved 7/26 Midland ITatioa.al Dank, Chicago, Ill., surrender approved 8/3 National Bank of Bay City, idich., application approved 7/1 National Bank of Cornerce, .alwaukee, Jis., surrender 10/6 National Bank of Martinsville, Ind., application approved 10/26 National Bank of Milton, Milton, Iowa, surrender approved 7/12 National ERrk of Vioodlawn, Chicago, Ill., surrender 7/3.9 National Fowler Bank, LaFayette, Ind., surrender approved 9/19 North Vernon National Bank, North Vernon, Ind., surrender 11/2 Old-Merchants National Bank and Trust Co., Battle Creek, Mich., surrender approved 11/12 Old State Bank, Fremont, Mich., application approved W2 Oswego State Bank, Oswego, Ill„ surrender approved 13/2 Peoples National Bank and Trust Co., Chicago, Ili., surrender approved 7/19 Peoples State Bank, Imlay City, nieh., surrender approved 10/26 Ravenswood National Bank, Chicago, Ill., surrender approved 7/19 Riddell National Bank, Brazil, Ind., application approved 12/19 Security Trust and Savings Bank, Shenandoah, Iowa, application approved 8/19 Sixth laseonsin National Bank, Milwaukee, ills., surrender 13/2 South Ashland National Bsnk, Chicago, Ill., surrender 8/5 Spencer National Bank, Spencer, Ind., surrender approved 10/6 Standard National Bank, Chicago, Ill., surrender approved 8/5 State National Bank, Iowa Falls, Iowa, surrender approved 8/19 Terre Haute First National Bank, Terre haute, Ind., surrender approved 12/8 Union National Bank, Ames, Iowa, surrender approved 8/3 U. S. National Bank and Trust Co., Kenosha, is., surrender 12/9 University Avenue National Bank, Ladison, Wis., surrender 13/2 Woodlawn Trust and Savings Bank, Chicago, Ill., surrender 8/10 Woodstock National Bank, Woodstock, il)., surrender Woodstock7/19 147 483 191 244 65 388 388 112 121 362458 124 147 147 562 483 67 113 6 315 367 35 66 254 386 417 482 388 65 366 65 552 178 368 A 12315 124 179 511 113 516 388 7 14 66 107 Pages Stock, (Continued) FRBank: FRBank of ,,leveland: Central United National Bank, Cleveland, Ohio, surrender Citizens National Bank, Indiana, Pa., surrender approved Crawford County Trust Co., Meadville, Pa., surrender Diamond National Bank, Pittsburgh, Pa., surrender approved Duquesne National Bank, Pittsburgh, Fa., surrender approved Federal Title and Trust Co., Beaver Falls, Pa., surrender First National Bank, Cairnbrook, Pa., surrender approved First National Bank, Davidsville, Pa., surrender approved First National Bank, Georgetown, Ky., surrender approved First National Bank, Jenkins, Ky., surrender approved First National Bank, Sutersville, Pa., surrender approved rirst National Bank of Ilitesburg, Ky., surrender approved First National Bank, Yukon, Pa., surrender approved Home National Bank of Union City, Pa., to be reissued upon reopening of bank Homer City National Bank, Homer City, Pa., surrender Ross County National Bank, Chillicothe, Ohio, surrender Union National Bank, ,Jonora, ?a., application approved _ linitley National Bank, Corbin, Ky., surrender approved Fi-tBank of Dallas: American National Bank, Beaumont, Texas, surrender approved American National Bank, Fort Towson, Okla., surrender Citizens National Bank in Waxahachie, Texas, application eltizens State Bank of Dalhart, Texas, application approved Citizens State Bank, Frost, Texas, surrender approved Citizens State Bank, Greenville, Texas, application City National Bank, Georgetown, Texas, surrender approved City National Bank, Wichita Falls, Texas, surrender Commercial National Bank in .311reveport, La., application Eden State Bank, Eden, Texas, application approved Farmers and Merchants National Bank, Venus, Texas, surrender approved Darmers National Bank, Gonzales, Texas, surrender approved Farmers State Guaranty Bank, Valliant, Okla., surrender First City National Bank, Floresville, Texas, surrender First National Bank, Clarksville, Texas, surrender approved 1. -r i.:t National Bank, Decatur, Texas, surrender approved National Bank, Be] Rio, Texas, surrender approved First National Bank, Dickinson, Texas, surrender approved = F E National Bank, George :est, Texas, surrender approved National Bnnle, Iowa Park, Texas, surrender approved First National Bank, Jayton, Texas, surrender approved First National Bank in Lott, Texas, application approved First National Bank in Pleasanton, Texas, application First National Bank, Rotan, Texas, surrender approved First National Bank, Silverton, Texas, surrender approved First National Bank of Sulphur Springs, Texas, application National Bank, Texas City, Texas, surrender approved First National Bank in Whitney, Texas, application approved First State Bank, Roaring Springs, Texas, surrender First State Bank, Rochester, Texas, surrender approved Junction State Bank, Junction, Texas, surrender approved 7/29 10/6 10/6 12/2 12/14 12/5 lo/6 7/19 10/26 10/6 7/7 8/19 10/6 98 315 313 482 533 491 315 65 368 313 17 178 315 12/2 4/21 8,/5 11,/2 166 448 124 388 113 8/3 7,77 12/19 4/21 10,4 09 0 12/23 10/11 12/5 8/9 17 552 447 293 66 222 579 328 491 129 222 515 191 483 66 314 579 191 244 87 35 447 367 328 222 578 35 482 222 12/30 599 10/11 328 12/30 599 0 12,/9 8/24 12/2 09 10/6 12/23 8/24 9/15 7/26 7/12 4/21 10/26 10/11 9,/7 12/23 02 12/2 0 108 Stock, FRBank-• (Continued) FRBank of Dallas: (Continued) Mercantile Bank and Trust Co., Dallas, Texas, application Sabinal National Bank, Sabinal, Texas, surrender approved I pages I 1, 9/7 222 ' 8/10 141 12/23 State National Bank, Terrell, Texas, surrender approved 7/19 Texas Bank and Trust Co., Brownsville, Texas, application 8/10 FRBank of Kansas City: Alma National Bank, Alma, hans., surrender approved 8/24 Colorado Bank and Trust Co. of Delta, Colo., application 10/6 Exeter National Bank, Exeter, Nebr., surrender approved 7/29 Farmers National Dank, aewoka, Okla., surrender approved 9/15 Fidelity State Bank, Aurora, Nebr., surrender approved 10/11 First National Bank, Anthony, Kans., application approved 10/6 First National Bank, Arlington, Nebr., surrender approved 7/19 First National Bank, Crofton, Nebr., surrender approved 8/10 First National Bank in Greensburg, Kans., surrender 11/21 First National Bank, Loup City, Nebr., surrender approved 7/26 First National Bank in Loveland, Colo., application 7/7 First National Bank, Loveland, Colo., surrender approved 9/7 First National Bank, Peetz, Colo., surrender approved 12/2 First National Bank, St. Francis, hans., surrender approved 12/23 First National Bank, Waynoka, Okla., surrender approved 7/26 Park National Bank, Sillphur, Okla., surrender approved 12/23 Sundance State Bank, Sundance, Wyo., application approved 10/6 Bahoo State Bank, li.ahoo, Lebr., application approved 7/26 Wynona National Bank, Wynona, Okla., surrender approved 12/2 FRBank of Minneapolis: American National Bank and Trust Co., Eau Claire, .is., application approved 10/26 Baraga County National Bank, L'Anse, Mich., surrender 7/26 Brown National Bank, Jackson, Minn., surrender approved 12/2 Burke State Bank, Burke, S. Dak., application approved 7/12 Citizens National Bank, Houghton, Mich., surrender approved 12/19 Citizens National Bank, Wessington, S. Dak., surrender 11/12 City National Bank, Staples, Minn., surrender approved 7/19 Columbia National Bank, Columbia Heights, Minn., surrender 10/6 Farmers and Merchants Bank, Huron, S. Dak., application 6 1/1 First National Bank, Crosby, N. Dal., surrender approved 12/23 First National Bank, Egan, S. Dak., surrender approved 12/2 First National Bank, Fingal, N. Dak., surrender approved 8/19 First National Bank, Flandreau, S. Dak., surrender approved 12,119 First National Bank, Frazee, Minn., surrender approved 11/12 First National Bank, Letcher, S. Dak., surrender approved 12/2 First National Bank, Mooreton, N. Dak., surrender approved 7/26 First National Bank, Page, b. Dak., surrender approved 9/7 iqrst National Bank, Parshall, N. Dak., surrender approved 11/21 First National Bank, Plaza, N. Dak., surrender approved 1/1 12/2 2 1 First National Bank, Ryder, Dak., surrender approved First National Bank, St. Lawrence, S. Dak., surrender 9/19 First National Bank, Sisseton, 6. Dak., surrender 11/3 First National Bank, Van Hook, h. Dak., surrender approved 12/2 First National Bank, dendell, Minn., surrender approved 12/2 Hurley National Bank, Hurley, Wis., surrender approved 8/24 National Citizens Bank, Lake Benton, Minn., surrender Negaunee National Bank, Negaunee, Mich., surrender approved 12 11/3 /8 579 i 66 146 ; I 191 313 99 244 328 i 313 66 1 141 i 446 ; 87 i 16 222 ,1 483 1 579 i 87 1 579 i 313 1 77 485 1 *I i •1 361 87 483 I 30 : 562 ; 411 i 66 33.4 33 401 1 579 1 465 179 552 1 411 1 483 i 81 222 1 448 45 8 1 46 254 394 j 485 465 191 3 59 3.14 1 i 109 Pages Stock, FRBank: (Continued) FRBank of thinneapolis: (Continued) United States National Bank, Deer Lodge, Mont., surrender United States National Bank, Iron Mountain, Mich., surrender approved FRBank of New York: Bank of Manhattan Trust Co., New York City, cancellation authorized Center Moriches Bank, Center Moriches, N. Y., application Central National Bank, Leonia, N. J., surrender approved Citizens and Farmers Trust Co., Adams, N. Y., application Citizens National Bank, Freeport, N. Y., surrender approved Citizens National Bank, Long Branch, N. Y., application for surrender not yet made by receiver Citizens National Bank, Rahway, I. J., surrender approved Farmers National Bank, Adams, N. Y., surrender approved Farmers National Bank, Granville, N. Y., surrender approved First National Bank, Belvidere, N. J., application approved First National Bank of Fleiechmanns, N. Y., application First National Bank, High Bridge, E. J., to be reissued when authorized to reopen for business First National Bank, Kenmore, N. Y., surrender approved First National Bank, Oradell, N. J., application approved First National Bank, Plainfield, N. J., surrender approved First National Bank, Rockville Center, N. Y., surrender First National Bank, South Glen Falls, N. Y., surrender Fourth National Bank, Plainfield, N. J., application Germantown National Bank of Germantown, N. Y., cancellation not to be required of receiver at present Lackawanna National Bank, Lackamanna, E. Y., surrender Liberty Bank of Buffalo, N. Y., surrender approved Mid-City Trust Co., Plainfield, N. J., surrender approved L:enroe National Bank, Monroe, N. Y., surrender approved Ocean Grove National Bank, Ocean Grove, N. J., surrender President and Directors of the Manhattan Co., New York City, application approved FRBn,l.. —14- of Philadelphia: Clearfield National Bank, Clearfield, Pa., surrender Commercial National Bank of Philadelphia, Pa., surrender Dauphin Deposit Trust Co., Harrisburg, Pa., application p(mningtown 1At;ona12.1nk, Downingtarn,Pa., surrender First Blair County National Bank, Tyrone, Pa., surrender First National Bank, Canton, Pa., application approved First National Bank, Cassandra, Pa., surrender approved First National Bank of Delta, Pa., surrender approved First National Bank, Emporium, Pa., surrender approved First Nationl Bank, Mansfield, Pa., surrender approved Lehigh Valley National Bank, Bethlehem, Pa., surrender Liberty National Bank, Dickson City, Pa., surrender Lock Haven Trust Co., Lock Haven, Pa., application approved Merchantville National Bank and Trust Co., rierchantville, N. J., application approved Path Valley National Bank, Dry Run, Pa., application Springfield National Bank, Springfield, Pa., surrender 104 533 9/13 244 11/21 102 9/15 9/2 10/6 445 400 243 210 315 8/3 13/19 8/19 7/29 7,/13 10/6 104 178 178 98 41 314 12/12 10/6 8/5 102 8/24 0.9 8/24 519 315 124 417 191 65 190 8/4 9/19 8/24 9/15 102 0 254 191 243 417 16 4/21 444 118 00 147 12/2 482 Wil 327 12/19 552 102 417 10/11 327 98 7/29 8/19 178 12/14 533 8/24 191 12/30 598 11/2 388 102 400 8/10 12/9 10/6 146 515 315 110 Pages 1 I Stock, FRBank: (Continued) FRBank of Richmond: American National Bank and Trust Co., Danville, Va., application approved 8/19 178 516 Cecil National Bank, Port Deposit, rd., surrender approved 1279 Central National Bank, Buckhannon, W. Va., application 11/16 423 Citizens National Bank, Frostburg, Md., surrender approved 8/19 178 Depositors National Bank, Durham,N. C., application 11/21 447 1 Elkin National Bank, Elkin, N. C., surrender approved 02 35 Farmers and i:erchants National Bank, Bel Air, Lid., 485 surrender approved 12/2 467 Farmers Bank of Clinch Valley, Tazewell, Va., application 12/2 First and Citizens national Bank, Elizabeth City, n. C., surrender approved 104 533 First and Y,erchants National Bank, Radford, Va., surrender 8/5 124 First and Peoples National Dank of Gate City, Va., surrender approved 314 1Q/6 5 First Clark National Bank, Northfork, W. Va., surrender6 7/19 First National Bank, Bassett, Va., application approved 8/19 176 First National Bank, Coeburn, Va., surrender approved 9/15 244 First National Bank, Frosbburg, Md., surrender approved 9/7 222 First National Bank in Henderson, N. C., application 10/6 314 First National Bank of Llannington, W. Va., surrender 315 10/6 First National Bank, :lidland, Sal., surrender approved 10/26 368 First National Bank, Salisbury, N. C., surrender approved 9/7 222 First National Bank of Shelby, N. C., surrender approved 8/19 178 First National Bank, Spartanburg, S. C., surrender approved 8/10 147 First; National 3ank, Terra Alta, W. Va., to be issued on reopening of bank without formal application 36 I 11/12 429 First National Bank, Wilson, N. C., surrender approved 7/12 Grayson County National Bank of Independence, Va., surrender approved 10/6 315 Kimball National Bank, Kimball, W. Va., application 8/19 178 G6 National Bank of : 1 illson, Wilson, N. C., application 7/19 National Citizens Bank, Charles Town, W. Va., surrender 8/19 176 Planters National in Fredericksburg, Va., application 8/19 178 National Bank, Towson, Ltd., surrender approved BankSecod 7/19 66 South Carolina National Bank, Charleston, S. C., surrender 12/2 485 Twin City National Bank, Bluefield, Va., surrender approved 10/6 315 Weston National Bank, Weston, VI. Va., application approved 10/6 314 FRBank of St. Louis: Ayers National Bank, Jacksonville, Ill., surrender approved 12/8 511 Boonville National Bank, Boonville, Lb.. surrender approved 8/3 113 Bozeman fe.ters First National Bank, Poseyville, Ind., application for cancellation not made by receiver because of possibility of reopening 10/6 266 Surrender approved 11/21 448 Farmers National Bank in Glasgow, Ky., application approved 109 552 1 First-Mercer National Bank of Harrodsburg, Ky., in voluntary liquidation and liquidation agent to apply for surrender of stock in due course 8/3 104 Surrender approved 9/7 222 First National Bank, Aberdeen, bliss., surrender approved 8/10 147 First National Bank, Appleton City, ;Jo., surrender approved 12/9 515 First National Bank, Bardwell, Ky., surrender approved 10/26 368 111 Pages Stock, FRBank: (Continued) bRBank of St. Louis: (Continued) First National Bank, Bentonville, Ark., surrender approved 9/7 222 First National Bank, Carlyle, Ill., application approved 8/10 146 First National Bank. Chaffee, iJo., application for cancellation not made by receiver as matter of 286 10/6 reorganization is not settled 102 417 Surrender approved First National Bank in Lake Village, Ark., application 8/31 203 First National Bank, Lawronceville, Ill., surrender 9/15 244 First National Dan 515 2/9 surrender approved Lexington, Tenn., k,1 First National Bank, Murray, Ky., surrender approved 10/11 $23 First; National Bank, Palestine, Ill., surrender approved 11/21 448 First National Bank, Pinckneyville, Ill., surrender 8/10 147 First National Bank of Ripley, Tenn., absorbed by State bank, request of FRAgont that receiver be ap11/21 440 pointed in order to effect cancellation of First National Bank, Springfield, hy., surrender approved 8/10 147 I,irst National Bank, Vincennes, Ind., surrender approved 483 12/2 r,irst National Bank, Washington, Lo., surrender approved 104 533 1 1rst National Bank, Windsor, Mo., surrender approved 10/11 328 birst State Bank, brawnsville, Tenn., surrender approved q/lo 147 Guaranty Bank and Trust Co., St. Louis, lJo., to be 4/19 169 surrendered upon conversion Guaranty-Plaza Trust; Co., St. Louis, Mo., application 8/19 169 Henderson National Bank, Henderson, Ky., surrender approved 10/6 314 Hillsboro National Bank, Hillsboro, Ill., surrender 515 12/9 Jefferson Bank and Trust Co., St. Louis, .•:o., surrender 12/9 515 McDaniel National Bank, Springfield, Mo., request that 473 receiver be appointed so stock can be cancelled 12/2 Mechanics Bank and Trust Co., Lloberly, Mo., application 515 12/9 National Ban:: of Unionville, Mo., surrender approved 222 9/7 Peoples American National Bank, Princeton, Ind., surrender 10/11 328 Peoples National Bank and Trust Co., Sullivan, Ind., surrender approvod 210 9/2 Plaza National Bank, St. Louis, 1.!e., surrender approved 10/11 328 Security National Bank, Witt, Ill., application approved 12/9 515 Seymour National Bank, Seymour, Ind., application approved 8/10 146 Taylor National Bank, Campbellsville, Ky., application 10/11 328 Third National Bank, Union City, Tenn., application 10/11 327 Lnion National Bank, taizabethtown, Ky., surrender 222 9/7 Union Trust Co., Madison, Ill., surrender approved 9/15 244 zttBank of San Francisco: American National Bank, San Bernardino, Calif., surrender 104 533 Anglo California National Bank, San Francisco, Calif., 73 surrender approved 7/20 Bank of Commerce, Wasco, Oro., surrender approved 12/23 579 Bank of Montreal, San Francisco, Calif., application 9/15 243 Bank of Southern Utah, Cedar City, Utah, surrender 7/12 35 Boise City National Bank, Boise, Idaho, surrender approved 4/3 394 Buckeye Valley Bank, Buckeye, Ariz., application approved 9/15 243 Carbon lariery Bank, Price, Utah, surrender approved 7/13 41 Application approved 65 7/19 City National Bank, San Francisco, Calif., surrender 10/6 314 112 Stock, FRBank: (Continued) FRBank of San Francisco: Continued) Commercial National Bank, Bellflower, Calif., surrender Enumclaw National Bank, Enumclaw, Wash., surrender Farmers National Bank, Colfax, Wash., application approved First National Bank, Alhambra, Calif., surrender approved First National Bank, Artesia, Calif., surrender approved First National Bank in Aurora, Ore., surrender approved First National Bank, Beverly hills, Calif., surrender First National Bank of Burns, Ore., surrender approved First National Bank in Coeur d'Alene, Idaho, surrender First National Bank in Driggs, Idaho, surrender approved First National Bank, Enumclaw, Wash., application approved First National Bank in Kerman, Calif., surrender approved First National Bank of Mesa, Ariz., surrender approved First National Bank, Sandpoint, Idaho, surrender approved First National Bank, Scappoose, Ore., surrender approved First National Bank, Silverton, Ore., surrender approved First National Bank, Torrance, Calif., surrender approved First National Bank in Turlock, Calif., application First National Bank, Vacaville, Calif., surrender approved First National Bank, Woodlake, Calif., surrender approved First State Bank, Gresham, Ore., surrender approved Lebanon National Bank, Lebanon, Ore., surrender approved Magnolia Park National Bank, Burbank, Calif., surrender Monroe National Bank, Monroe, Wash., surrender approved National Bank of Commerce, Los Angeles, Calif., surrender Nevada First National Bank, Tonopah, Nev., surrender Parma National Bank, Parma, Idaho, surrender approved Peoples State Bank, Walla .4alla, Wash., surrender approved Reno National Bank, Reno, Nev., surrender approved San Bernardino National Bank, San Bernardino, Calif., surrender approved Tillamook National Bank, Tillamook, Ore., surrender United States National Bank, La Grande, Ore., surrender Vale National Bank, Vale, Ore., surrender approved Valley National Bank, Milton, Ore., application approved Walker Bank and Trust Co., Salt Lake City, Utah, application approved Application approved Application approved West Hollywood First National Bank, West Hollywood, Calif., surrender approved Stockholders meeting of FRBank of Boston, reimbursement of travelling expenses for one representative of member banks Straight, H. R., reply to letter on loans to bankers by United States Treasury Strong, former Governor, propriety of FRBank of New York holding securities as trustee for bequest of Strother, French, request for statements published by FRBoard during 1928 and 1929 on policy of FRBoard toward credit conditions . :itzler, R. h., replyto letters on eligibility for rediscount of paper of customers of cold storage companies Pages /2 12 9,/9 o T 9/19 8/19 4/10 12/19 7/12 8/19 12/19 12/8 9,/15 9/15 8/19 7/12 102 10,4 9/19 9/15 12/9 12,/23 12/23 7 /26 7/19 10/26 12,/30 9/19 12/23 10/26 12,/30 283 179 147 552 35 179 552 511 243 244 179 36 417 314 254 243 516 579 579 87 66 366 i 599 1 254 579 386 1 599 7/19 66 2 4g 11 /2 ly 12/23 9/8 579 226 9/19 255 10/26 388 100 598 7/19 68 10/6 279 8/3 113 1172 384 9/2 206 10/6 304 I 113 Pages tt Ttl Taft, Robert A., protest against political activities of directors of FRBank of New York while directors of Cincinnati Branch are barred from indorsement of 11/3 President Hoover Tanners Council, information requested on leather statistics of 4/22 TE1A notes: Alpha, N. J., Borough of, purchase by FRBank of New York from 9/21 Alpha National Bank 102 Purchase of additional notes approved Beacon, N. Y., City of, purchase by FRBank of NEWT York from 1g/2 Fishkill National Bank Caldwell, N. J., Borough of, purchase by FRBank of New York 7/7 from Caldwell National Bank approved 10/11 approved additional notes Purchase of Carlstadt, N. J., Borough of, purchase by FRBank of New York 12/5 from Carlstadt National Bank Cheektowaga, N. Y., Town of, purchase by FRBank of New York 7/29 from Bank of Depew, N. Y. 8/19 Purchase of additional tax note approved 10/6 Purchase of additional tax note approved East Orange, N. J., City of, purchase by FRBank of New York 1g/27 from Savings Investment and Trust Co. Englishtown, N. J., Borough of, purchase by FRBsnk of New York 7/1 from First National Bank of Lnglishtown Rempstead, N. Y., Town of, purchase of notes of Union Free School District No. 11 by FRBank of New York 1Q/6 from Oceanside National Bank 12/27 Purchase of additional notes approved Mamaroneck, N. Y., Village of, purchase by FRBank of New York 7/20 from First National Bank in Mamaroneck Metuchen, N. Y., Borough of, purchase by FRBank of New York 10/26 from Metuchen National Bank Midland Park, N. J., Borough of, purchase by FRBank of New York 10/11 from First National Bank Nutley, N. J., Town of, purchase by FRBank of New York from 1g/19 Bank of Nutley Perth Amboy, N. J., City of, purchase by FRBank of New York 106 from Perth Amboy Trust Co. Pittsford, N. Y., Tom of, purchase by FRBank of New York from First National Bank of East Rochester, N. Y. 1Q/6 Purohase direct from issuing municipality by FRBank of 102 Minneapolis, request for ruling Wayne, N. Y., County of, purchase of certificates of indebtedness by FRBank of New York from Lyons 102 National Bank Taxes: Bank checks, request for ruling of Treasury Department on those drawn by banks on correspondent banks in remitting to FRBank for checks and drafts drawn on themselves payable to officials of Government 7/7 393 451 256 397 465 12 319 486 92 167 285 581 3 285 581 67 348 319 543 419 284 407 398 14 114 Pages Taxes: (Continued) Checks, drafts, etc., funds collected for Collector of Internal Revenue not subject to reserve requirements 9/7 Ruling to be published in FRBulletin 10/,6 Firearms, sales to FREanl: of Cleveland not exempt from 10/26 Franchise, no objection to Secretary of Treasury furnishing Comptroller General with an account current on account of receipts from FRBanks 13/2 Remittance drafts received by banks in settlement for cash letters, FRBanks not to reimburse remitting banks for 7/1 Remittance drafts sent to FRBank in payment of checks, refusal of FRBank to permit Elliott State Bank of Jacksonville to deduct 7/8 Telephone and telegraph services to be furnished by American Telephone and Telegraph Co., certain changes in forms of renewal contracts suggested 7/12 Reply to letter from Hr. Adams with further reference to contract approved 8/19 Territory of FRBanks, letters from bankers in Oklahoma opposing any transfer from Eleventh to Tenth FRDistrict 10/6 Textile business in New York City, letter from Commerciol Credit Co. on eligibility of paper of factors engaged principally in 7/19 Time schedule, interdistrict: Chicago to San Francisco and Los Angeles, changes approved 11/2 Helena to Spokane, change approved 7/29 Tinkham, Congressman George H., letter on banks in certain States required to segregate assets of commercial departments from savings departments be permitted to carry two separate reserve accounts 7/29 Tracy, Shelley E., advertising plan for FRBanks, not favored by FRBoard 9/21 Transamerica Corporation, request of President of United States for copies of messages sent to 10/25 Treasurer of the United States: Bonds held as security for national bank note circulation, applications filed by receivers with Comptroller of the Currency to have sold under Sec. 18 of FRAct 8/10 silver and minor coin, no objection to FRAgent at Atlanta holding in joint custody with FRBank for account of Treasury Department: Loans made to bankers by, request of Straight for information on 8/3 Ruling on deduction of two cent tax by nonmember banks on checks and drafts drawn by collectors of internal revenue, customs, etc., request of FRBank of Atlanta for 0 Trust powers: (See Fiduciary powers) Twin Falls, Idaho, currency depot established by FRBank of San Francisco for temporary period 10/6 218 309 361 365 21 31 175 31.2 62 384 93 93 262 339 11:3 14 311 ?tuft Unified banking system, reply to Jr. C. H. Van ()strand on question of 8/12 181 115 Pages Unified cormercial banking system under national supervision, opinion of Counsel on constitutional method 12/6 of establishment 498 Uniform Dank collection Code: Decision of FRBank of Cleveland to discontinue practice of protesting checks for which actual payment has not been received due to closing of drawee bank 7/1 5 Legal and practical problems arising under, to be considered by Conference of Counsel 9/15 243 United Engineers and Constructors, proposed fee for supervision of addition to FRBank of Philadelphia not favored 115 4/4 Sawall present at meeting of Executive Cammittee for discussion of proposed fee 4/12 148 Mr. Sewall and bir. Robinson present at meeting of FRBoard and supervision again discussed, budget for building approved except proposed foe 4/12 152 ,Ald States Daily, given authority to print article prepared by Counsel's Office on "Recent Amendments to FRAct" 9/15 238 "V" Vall Camp Eilk Co., Inc., letter on eligibility of paper offered to FRBank of Chicago for rediscount 7/26 Vaal Cartmell, J.: (See Lawrence ;larehouse Company) *kxl °strand, C. H., reply to inquiries on FRSystem, guaranty of bank deposits, etc. 4/12 Ve Jeaen Nursery Co., Scottsville, Texas, eligibility for rediscount of notes to be used in production or marketing of products 10/6 Vet Administration, regulations revised according to amendments to World War Adjusted Compensation Act, to be published in FRBulletin 8/31 14°1ati0n5 of statutes: Detroit Branch, shortages in accounts of two employees in Transit Department 12/5 Lierchants Banking Trust (Jo., Mahanoy City, Pa., analysis of examination report showing irregularities, not reported because action barred by statute of limitations 10/26 PeoPles Savings and Trust Co., Nanticoke, Pa., criminal irregularities involving certain employees still in employ of bank 10/26 a branch banking situation in, to be published in FRBulletin 10/6 17°4 Windegger, F. R., present at meeting of FRBoard to discuss application of Guaranty-Plaza Trust Co. for membership in FRSystem 9/2 (See also :jembership in FRSystem) 1tirtti,, 'Is Senator Thomas J., request for information on loans under Secs. 10(a) and 10(b) of FRAct for use in speech 7/19 79 161 304 193 487 359 359 309 206 63 116 Pages Warburg, James P., present at meeting of FRBoard in connection with reorganization of Manhattan Co. and application of Bank of Manhattan Co. for membership 11/18 ;.ctrehouse receipts, Lawrence Warehouse Co.: Covering lumber as security for loan to New Mexico Lumber and Timber Co. 11/2 Securing bankers acceptances drawn to finance storage of goods not eligible for rediscount under conditions stated 1Q/6 Warrants of municipalities: (See Tax notes) Watchorn, H. J., inquiry if corporations organized under Sec. 25(a) of FRAct are permitted to do both commercial and investment banking abroad 7/1 Vielfare and educational work at FRBanks, letter to FRBanks on expenditures for 10/26 Withdrawals from membership in FRSystem: Central Republic Bank and Trust Co., Chicago, Ill., permission to withdraw immediately because business of deposit and discount discontinued 1Q/26 Citizens State Bank, Memphis, Tex., six months notice waived and immediate withdrawal approved 8/9 Dime Savings and Trust Co., Allentown, Pa., immediate withdrawal approved q/3 Exchange Bank of Tallahassee, Fla., six months notice waived and immediate withdrawal approved 11/2 Farmers and Merchants State Bank of Seneca Wis., should be given opportunity to effect voluntary withdrawal before proceedings looking to expulsion are instituted 12/2 Farmers and Traders Bank, Iberia, Lo., six months notice waived and innediate withdrawal approved 12/15 First State Bank of Bishop, Texas, six months notice waived and immediate withdrawal approved 9/21 First State Bank of Brownsville, Tenn., six months notice waived and immediate withdrawal approved 12/19 Lorenzo, Texas, hearing on forfeiture of Bank, First State membership because of continued deficient reserves 7/20 Date of hearing changed to Sept. 15 and revised letters 8/3 forwarded Report of appearance before FR1gent and action deferred and further opportunity to comply with conditions 10/6 Reserves restored but still in unsatisfactory condition, action again deferred 12/6 Hinsdale State Bank, Hinsdale, Ill., six months notice waived and immediate withdrawal approved W12 Inla State Bank, Iola, Texas, notice of intention filed and waiver of six months notice refused 11/21 Liberty Trust Co., Allentown, Pa., immediate withdrawal approved 8/31 Live Stock State Bank, Lorth Portland, Ore., application for immediate withdrawal denied but FRBank to cancel stock after six months 8/31 Remainder of six months period waived and immediate withdrawal approved 11/18 Penn Trust Co., Allentown, Pa., imrediate withdrawal approved because absorbed by another bank 8/4 432 385 305 354 130 105 380 472 539 257 545 66 106 294 496 157 4_40 196 197 429 119 117 Pages Withdrawals from membership in FRSystem: (Continued) Pinconning State Bank, Pinconning, Mich., expiration of six months notice of intention, granted thirty days 4/23 455 to make necessary corrections in condition Woodward., reply to letter on statements of National Association of Finance Companies on eligibility 9/15 239 of paper of finance companies for rediscount '%arld Fair in 1933: (See Chicago World Fair)
@FedFRASER