Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, August 18, 1916, Volume 3, Part 2

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A meeting of the aecutive Committee
of the Federal Reserve Board ww; held in the office.;
of

trie Board at 11:30 21.1., Friday, August 18, 1916.
PITENr.2:
Governor Harding, presiding,
1.1r. Delano,

Lr.

Mr. alien, Secretary,
Upon recommendation of Lr. Delano, authority was granted to the Federal Reserve Bank of
Cleveland to purchase warrants of Fayette County
Kentucky, Board of .1cluca-,ion, to the amount of
3O,000, dated August 12, 1916, maturing January
12, 1917, with interest at 4. The letter of
the Governor of the Federal Reserve Bank of Cleveland, dated August 16th, states that the warrants
conform to the requirements of the circulars and
regulations of the Board.
A,Troval was, unon the recommendation
of Dr. Harding and 1.r. dilliams, given to the




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application of the First National Bank of San
Jacinto, California, to reduce Its capital from
.J00,000 to :;50,000.

Lit)cratary.

APPROVED: