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JImeetin of the ;,xecutive Committee (interim) was held in the CO of the ..,lederal eserve Board on Thesday, :Lpril 14, 1931, at 4:00 a. in. PBAS.fT: hr. 'LT. ::±. Lr. f_a,-;111n, presiding ;Fames I.AcClelland, Assistant Jecretary ';:lingfield, Assistant 0ounsel The .Assistant Jecretary referred to the fact that at a meeting of the , 'eueral feserve )oard on ::arch 14th, this hour was fixed for a hearat which re-oresentativos of the iiirst itate Jank, Aob i, Texas, were 1113(111e2ted to appear to show cause why the renbershin of the bank in the eral :teserve ystem should not be terminated because of its failure tQrfeintain the reserve reruired by the federal ,eserve ct. He stated that the member bank had waived its ri -ht to appear before the federal --Lye joard and had appeared instead before the -ederal .eserve Agent at , at a meeting on April 4th. Lo one appearing on behalf of the state bank, the _xecutive Committee to Post)one consideration of a memorandum from Counsel, dated April 441, r elative to the proceedings and defer final action on the nuestion O/*17}lether the membership of the first State Bank of Rob- should be terminated. The meeting adjourned at 11:05 a. Assistant Secretary ADD liotber, ..xecutive Committee •
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