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() A meting of the Federal Reserve Board, was held in the office rf the Board on Tuesday, August 22, 1922, at 11:00 a.m. PRESENT: Vice Governor Platt Mr. Hamlin Mr. Mitchell Mr. Crissinger Mr. Hoxton, Secretary. Minutes of the meting of the Federal Reserve Board held on August 17, 1922 were read. and approved. The Vice Governor reported the reserve positions of the several Federal Reserve banks as at close of business August 16, 17, 18 and 19. Telegram dated August 19th from the Federal Reserve Agent at Dallas, advising that Federal Reserve Bank :;:xaminer J. C. Alvey has ' l esigned, effective September 1st, and that Mr. "fill C. Jones, Jr., has b een, employed by the Federal Reserve Bank of Dallas to fill the place left vacant by the resignation of Mr. Alvey, and request ing the approval of the Federal Reserve Board of a salary of .3300 per year for Yr. Jones. Approved. Letter dated August 17th, addressed to the Vice Governor from , 14r• L. L. Rue, President of the Federal Advisory Council, advising that the next statutory meeting of the Council will be held Monday, September 18th, Noted. Memorandum from General Counsel to the Federal Reserve Board etting forth the opinion of General Counsel as to the circumstances under which the notes of Commission Merchants may be eligible for rediscount bY Federal Reserve banks. Approved, and ordered circulated, said approval being subject to any changes vhich may be suggested by the Board members. Telegram dated August 19th, from the Federal Reserve Agent at San Francisco, advising of the closing of the First National Bank of Colusa, California, stating the amounts due by the closed institution to the Federal Reserve Bank of San Francisco, and the amount of collateral held by the Federal Reserve Bank of San Francisco as protection against loss. Noted. Upon motion of Mr. Mitchell, it was voted that the Board set Tuesday, October 10th, as the tim=mtt= date upon which the Board will call for the joint meeting in Washington of the Governors of the Federal Reserve bahks and the Federal Reserve Agents. Letter dated August 21st, from the Comptroller of the Currency, recommending the reap)ointment of Mr. John C. Alvey,(now a Federal Reserve Bank Examiner as a National Bank Examiner, assigned to the Eleventh Federal Reserve District, at 15,000 per annum. Approved. ZEPrRTS OF COMMITTEE NO. 1: Dated, August 18th, Dated, August 18th, Recommending action on applications for fiduciary powers as set forth in the Auxiliary Minute Pook of this date. Approved. Recommending action on applications for admission of state banks, subject to the conditions stated in the individual reports attached to the applications, as set forth in the Auxiliery Minute Book of this date. Approved* At 11:55 o'clock the meeting adjourned. Secretary. Approved:c 9) Vice dovernor.
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