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111 A. meeting of the Federal Reserve Board was held in the office of the Federal Reserve Board on Wednesday, April 11th, at 11:00 a.m. PlUISITT: Vice Governor Platt Mr. Hardin Mr. Miller Mr. Crissinger Hoxton, Secretary The minutes of the meting of the Federal'Reserve Board held on April 10th were read and on motion approved as amended. Letter dated April 9th, from the Chairman of the Federal Reserve Bank Of St. Louis, enclosing a resolution passed by the Board of Directors of that 13411-1t with respect to the Federal Reserve Board's recent action in ordering the abaudJDnment at the present time of operations with respect to the erection of the Proposed biailding for the Little Rock Branch. • Ordered attached to the other papers in connection with this case for consideration by the Board when Mr. Mitchell returns to the city. Letter dated April 5th, from the Federal Reserve Agent at New York, ad.iitg that the Federal Reserve Agent's Department desires to employ Dr. G. 7:. Bake,, n the Reports Defartment at a salary of $2700 a year. Approved with the understanding that Mr. Jay will b& advised that the Board has in contemplation, a systematic survey of the reporting and statistical services of the Federal Reserve banks with a view to effecting substantial economies. In this connection, Mr. Miller was requested to prepare a letter to all Federal Reserve Agents inquiring why they have not reported upon economies effected in Departments during the year 1922. After a discussion of the question of the reserve to be carried against ePew ' 12-1 savings deposits, Mr. Miller suggested that a circular letter should be aellt °lit calling attention to the Bcard,s action in declining to amend its tegtaation covering savings deposits and that attention should be called to thi matter in the Federal Reserve Bulletin. No action. The Board discussed the telegram from Mr. W. G. McAdoo, referred to in 1/3 minutes of yesterday and it was the sense of the Board that a definite reply to ilr• McAdoo,s telegram should be held until a full meeting of the Board is 1)resent. Draft of proposed travel regulations for the Federal Reserve Board, 1)rePared for the signature of the Acting Governor. Referred to the Law Conmittee. Letter dated April 9th, from the Federal Reserve Agent at Atlanta, recrtleating the views of the Board with regard to the proposed establishment of a tallch bank at Charleston, South Carolina, by the Citizens and. Southern Bank of Atlant Georgia. After full discussion of the branch bank problem, it was determined to postpone the adoption of a definite policy with respect to branch banks until the full membership of the Board Shall be present* 1??°13TS Op C01.2.1ITTsh; NO. 1 kte4 11 7th, Recommending refusal of the application of Mr. Jos. E. Widener to serve at the same time as director of the Fourth Street National Bank, of the Fidelity Trust Company, and of the Land Title and Trust Company, all of Philadelphia, Pa. Approved. ri APr 11 10th, Recommending approval of-the applicat ion of Mr. J. H. Meek to serve at the same time as director of the'Huntington National Bank, Huntington, 71. Va., and of the First National Bank, Kenova, "!. Va. Approved. 4/11/23 R:IPtyporn OF CO ITT NO. 1 (Cont'd) Dated. April 10th, Recommending approval of the application of Mr. Harry H. Rogers to serve at the same time as director of the City National Bank, San Antonio, Texas and of the iichange National Bank, Tulsa, Okla. Approved. At 1:00 p.m. the meeting adjourned. Secretary. APAroved: Vice Governor.
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