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A meting of the 2edera1 Reserve Board was held in the office °f the Board on Tuesday, August 23, 1921, at 11:25 a.m. PRESENT: Governor Harding Mr. I)latt Mr. Miller . Mitchell . Hoxt on, Secretary. Minutes of the two meetings of the Board held August 19th and 22 '1921, were read_ and on motion approved. The Governor reported the reserve positions of the several ?edel'al reserve banks as at close of business August 18th, 19th and 20th, and, the status of rediscounts between t1, B Federal reserve banks as ° f the same dates. The Governor reported rediscount transactions, member bank /31‘°Trl18 eory notes secured by Government obligations, rate 6%, as follms: Dater th Bank7i rediscounting 412\,°11et 19 Richmond New York do Atlanta Boston do Minneapolis New York do Dallas Boston Atigilst 20 do AtzglIst 22 41./.tist 22 do Atlanta Minneapolis Richmond Atlanta Minmapolis Boston New York New York Boston New York Amount Maturities $10,000,000 1,000,000 2,000,000 500,000 1,500,000 500,000 1,000,000 5,000,000 1,500,000 2,000,000 3,000,000 11-15 days 1-90 dys.Com. 11-15 days 1-90 dys.Com. 11-15 days 1-90 days do 11-15 days 1-90 days 1-15 days 1-90 days Letter dated August 19th, from the federal Reserve Agent at 421 ea8 City, advising of the appointment of Mr. Roy N. Mayor as Mail 11°11tI ng 4xpert at a salary of Appro ved. 2700 per annum, effective August 16yh. -2- Letter dated August 18th, from the Federal Reserve Agent at Dallas, enclosing copy of the minutes of the meeting of the Board of Dir 'ectors of the Hotzton Branch of that Bank held on August 16th. Noted. Letter dated August 18th, from the Chairman of the Federal Resel've Bank of Dallas, enclosing copy of the minutes of the meeting of the B of Directors of that Bank held August 6th. Governor Harding stated that in the above minutes the Board of Directors of the Federal .Reserle Bank of Dallas had amended the bylaws of the Houston Branch, 8° as to make it permissive and not obligatory for the Manager of the 131‘all0h to be a member of the Board of Directors, and. that this action Ilecluires the approval of the Federal Reserve Board. Upon motion, the amendment was approved. Telegram dated August 22d, from the Chairman of the Federal lieserve Bank of Chicago, advising that he wished to employ Mr. J. M. eenway as an additional Examiner at a salary of 4-',4500 or 'Ic,5000 per Approved. Letter dated August 18th, from the Chairman of the Federal Ileser7e Bank of Dallas, requesting approval of an increase in the sal- - Assistant Federal Reserve Agent Reordan. Governor some previous vcould examine the attention Harding stated that he had, in his files correspondence on this subject which he with a view to bringing this matter to of the Board tomorrow. -3- Letter dated August 19th, from the Deputy Governor of the Federal Reserve Balk of Cleveland, transmitting the action of the Board of Directors that Bank with respect to certain adjustmants in the salaries of those e°31)1°Ye5 whose anniversaries of employment fall during the month of August, in ac lY cordance with the plan of anniversary adjus trent of salaries previous- authorized by the Board. Approved. Letter dated August 18th, from the Chairman of the Federal Reserve 13°2-ik of Atlanta, transmitting the action of the Board of Directors of that 13°11k whereby the salary of Assistant Cashier J. B. Tutwiler is increased from 3600 to ;c,4.200 per annum. Apo ved. Letter dated August 18th, from the Cha,irman of the Federal Reserve ilarik Of Atlanta, transmitt ing a resolution of the Board of Directors of that wharein the opinion is expressed that the other Federal reserve banks sh°1114 be asked to participate in the expenses of the par collection suit, lXis: far as such expenses refer to the employment by the Federal Reserve 4rik °f Atlanta of its owl counsel. Referred to Governor Harding far reply, it being the sense of the Board that the Federal reserve banks, other than the Federal Reserve Bank of Atlanta, should not be requested to participate in the expense referred to. Letter dated August 22d, from the Comptroller of the Currency, reoval of a salary of 1;4000 per annum to be paid to Mr.J. Oscar 11°Ots , ziational Bank Rrarniner in the Seventh Federal Reserve District. Appro ved. 4t01010 COT.TITTEE NO. 1: 4-12t>rfust 22d, Recommending action on applications for fiduciary power s, as set forth in the auxiliary minute book as of this date. Approved. -4-- Dated. A1-1Zt 22d, Recommending approval of applications for admission of state institutions, subject to the conditions stated in the individual reports attached to the applications, as set forth in the auxiliary minute book as of this date. Appro ved. Dated Recommanding approval of the application of Mr. Geo. Tait to rve at the same time as vice president and director of the Sandy Hill National Bank, Hudson Palls, N.Y., and as director of the Manufacturers' National Bahlc of Troy, N.Y. Appro ved. Dated Recommending approval of the application of Mr. Fraik L. Stevens to serve at the sane time as director of the First National Bank of Hoosick ,?alls, N.Y. and as director of the Manufacturers National Bank of Troy, N.Y. Apiroved. Dated August 19th,Recornmending approval of the application of Mr. Geo. W. Peltier to serve at the same time as president of the Railroad National Bank of P.oseville, Cal. and as vice president of the California National Bank, Sacramento, Calif. Approved. At 12:45 p.m. the meeting adjourned. 41311`oved: .4°": overnor.
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