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At a meetinc of the Executive Committee of the Federal eserve Boa2d held in the office of the qovernor on Tuesday, ril 3, 1913, at _L:35 :1. Delano, Hardin!7, presidin, !Ir. Warbrrg, Mr. Imlay, acting Assistant Secretary. M. Miller, Present also; :Ir. laliott, Counsel. Governor Hardin!: presented a letter from 41:3sistant Secretr_r7 of the Treasury Leffins•well, dated A)ril - the retireme2..t of 1(.)15, resardin : silver certificates ana their repl-cement by Federal Leserve bank notes, under the provisions of the l'ittman Bill. It was the concensus of opinion that where Ovrrency is received for redemption from a non member bank the Treasurer should_ isstle a chc",.: on the Federld Reserve bank of the district in vihich non-member bank is located in favor of the nonmember bank, instead of the Federal Reserve barf< to establish a credit on its books for the nonmember ballk. The followirr: tentative allotment to each Federal Eeserve bank of Federal Reserve bank notes to be issued under this bill was approved: Boston 6; rew York 325; Philadelphia 8: Cleveland 8,;Z; Richmond 67.,; ilt1anta4:; Chicago 15; St. Louis 51; Minneapolis 3 0 1 ; Kansas City 5;.,“ Dallas 2; an Francisco 6,-0. Upon motion, duly seconded, the Governor was authorized to communi—te by telegraph with each Federal Reserve Bank advising them of the above allotment and re4uesting specimen signatures of the Governor and Cashier, and telegra:thic order for th prepara- tion of plates and the printing of Federal reserve bank notes. Counsel was rejuested to furnish the Board with an opinion as to thether or not a Federal Reserve bank could pay out the Federal Reserve bank notes issued by another Federal Reserve bank. On motion, at 12:08 P. L., the meeting ad7' jour ned. APPROVD: acting Assistant Secretary. Chairman
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