Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, April 13, 1921, 11:30 AM, Volume 8, Part 1

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9.

A meetin-; of the Federal Reserve Board vas held in the
office of the Board on Wednesday, April 13, 1921. at 11:30 a.m.
PRESET: Governor Harding
Mr. Platt
Mr. Hamlin
Mr. Miller
Mr. Cris singer
Mr. Hoxton, Secretary.
Minutes of the m3eting of the Board held Ail 12th vit3p,e
read, and on motion approved.
The Governor reported the reserve positions of the several Federal Reserve banks as
at close of business April 11th, and

the status of rediscounts between the Federal Reserve banks as of
the same date.
Letter dated April 7th. from the Deputy Comptroller of the
ellrrency, advising the Board of changes and transfers made among

the force of National Bank axaminers during the month of March.
1Tot ed.
At this point, 11:55 a.m., LIr. Crissily:er entered the
Meeting, and advised the Board that u on taking charm of the
Comptroller ,s office, he found that ti-ore existed a
deficit in the
accounts of the office, due to the fact that a number of
bills and
c ertain elvaise accounts of :Tational Bank 'Examiners
had not been
Paid.
Sw3gestions were made as to ways and means of
providing for the deficiency, and Mr. Crissinger
was requested to submit facts mid fio,ures to the
Board exhibiting the financial status of the office
of the Comptroller of the Currency, as of March 2,
1921.




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The Comptroller of the Currency submitted two letters,
dated April 8th, from the Chief National Bank Examiner of the
Chicago District and the Chief National Bank Examiner of the
Cleveland District, the latter of whom is temporarily detailed
for tork in the Seventh Federal Reserve District.

These letters

dealt with conditions among the National Banks of Iowa and contained certain criticisms of the management of the Federal Reserve Bank of Chicago.
Upon motion, it was determined to call a meting this afternoon at 3 o'clock and invite the
Governor of the Federal Reserve Bank of Chicago to
be present.
Letter of recent date from the Consulting Architect, stating that those of the Federal Reserve banks which on account of

the present status of their building operations are especially interested in vault construction, have agreed to participate in the
exPenses necessary to conduct another vault test.
Not ed.
Letter dated April 11th, from the Comptroller of the Currency, requesting the Board's approval of a salary of .!13,000 per
8421:ms to be paid to lir. Harry N. Horner, National Bank Examiner in
the Tenth Federal Reserve District.




Approved.

;

301.
-3-

RZ'ORTS OF COMMITTEE NO. 1:
Dated April 11th, Recommending approval of the application of
Mr. Herbert F. Perkins to serve at the same
time as director of the Continental aC ComnBrcial National Bank of Chicago, and as
officer and director of the Chicago Morris
Plan Bank of Chicago, Ill.
Approved.
At 1:05 p.m. the /meting adjourned.




Secretary.