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538 A meeting of the Board of Governors of the Federal Reserve SYstem was held in Washington on Monday, April 22, 1940, at 11:30 a. m. PRESENT: Mr. Eccles, Chairman Mr. Szymczak Mr. Davis Mr. MT. Mr. Mr. Morrill, Secretary Bethea, Assistant Secretary Carpenter, Assistant Secretary Clayton, Assistant to the Chairman The action stated with respect to each of the matters hereter referred to was taken by the Board: Bonds, each in the amount of $10,000, executed under date APIll 9, 1940, by Mr. Harold G. McConnell as Assistant Federal Reser ve Agent, and by Messrs. John Johnson and Harold C. Timberlake Alternate Assistant Federal Reserve Agents, all at the Federal P.ese4-ve Bank of Minneapolis. Approved unanimously. Letter dated April 20, 1940, to MT. Keesee, Secretary of the pederal Reserve Bank of Richmond, reading as follows: "Acknowledgment is made of your letter of April 16, 1940, stating that Mr. George E. Probest, Jr. has resigned from your InduGtrial Advisory Committee and that Mr. Ludlow H. Baldwin, President of the Terminal Warehouse Company, Baltimore, Maryland, has been elected for the unexpired portion of the term ending February 2, 1941. 539 4/22/40 -2- "The information regarding Ir. Baldwin is noted, and the Board approves his appointment to the Industrial Advisory Committee for the unexpired portion of the term ending February 28, 1941." Approved unanimously. Letter to the board of directors of the "Muleshoe State Muleshoe, Texas, stating that, subject to conditions of Diembership numbered 1 to 3 contained in the Board's Regulation 8-Ald the following special condition, the Board approves the 131111° s application for membership in the Federal Reserve System " d for the appropriate amount of stock in the Federal Reserve Bank of Dallas: "4. Such bank shall make adequate provision for depreciation in its banking house and furniture and fixtures." Approved unanimously for transmission through the Federal Reserve Bank of Dallas. Letter dated April 20, 1940, to the board of directors or the "Washington County State Bank", Brenham, Texas, stating that ) subject to conditions of membership numbered 1 to 3 con- t'lined in the Board's Regulation H and the following special e°114iti°n, the Board approves the bank's application for member8114 in the Federal Reserve System and for the appropriate amount " tc3ck in the Federal Reserve Bank of Dallas: "4. Such bank shall make adequate provision for depreciation in its banking house and furniture and fixtures." Approved unanimously for transmission through the Federal Reserve Bank of Dallas. Thereupon the meeting adjourned.
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