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A meeting of the Federal Reserve Board was held in the office of the Federal Reserve Board on 2uesday, April 15, 1924, at 10:50 a.m. Vice Governor Platt Mr. Hamlin Mr. Miller Mr. James Mr. Cunningham Mr. Dawes Mr. Eddy, Secretary PRESENT ALSO; Mr. D. C. Wills, Chairman Mr. Robert Wardrop, Director Mr. M. J. Fleming, Deputy Governor, Federal Reserve Bank of Cleveland Mr. L. R. Walker, Architect, Federal Reserve Bank of Cleveland Mr. A. B. Trowbridge, Consulting Architect, Federal Reserve Board. PRSSENT: d Committee Mr. Wills stated that the purpose of the visit of the Clevelan was to acquaint the Board with the Federal Reserve bank'S program for the erecstated that Mr. Flemtion of a building to house its branch at Cincinnati, and ing who had handled the details of the head office building was familiar with the Cincinnati project and would explain it to the members of the Board. Ur. erection of a buildPleMing then outlined to the Board the bank's plan for the at Cincinnati, comparing the importance of that branch in the number of operations, with other elloloyees, number of member banks served, and volume of branch Federal Reserve banks which occupy their own building. He stated that 000 for the buildthe proposed new building which would cost 01,113,400 - 0I:3775, designed to acProper and 0325,000 for vaults, fixed equipment, etc., was coMmodate not only the present working force of the Cincinnati branch but to if additional floors Pl'ovide for an expansion of 77, and also to provide for three of 038,400, Which could be rented at 02.00 per square foot for the total income -2- 4/15/24 maintaining and operating Which would be applied toward reducing the cost of the building. Hamlin took the At this point, Mr. Platt left the room and Mr. Chair. plans of the proMr. Walker, the Architect, then went over the of the construction to the Posed building and explained the various features embers of the Board. that a new building at Mr. Wardrop stated that he was convinced question was as to the kind of Cincinnati was a necessity and that the only building to be erected and the amount to be expended. opinion that the Mr. Trowbridge stated that he was of the should be approved by the Board. building designed for the Cincinnati branch tee that the next Mr. Hamlin then stated to the Cleveland Commit in Congress a bill to authorstep in order would be for them to have introduced of the building at Cincinnati, that ize the expenditure involved in the erection but would not express an opinthe Board would take the matter under advisement, Commit ee to whom the bill was ion until requested to do so by the Congressional referred, The meeting adjourned at 12:00 Secrete APproved: ti ock. Membcr of Board.
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