Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, December 11, 1920, Volume 7, Part 3

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u01

A meetin, of the Federal Reserve Board was held in
the office of the Board on Saturday, December 11th. 120,
at 11:40 a.m.
The Governor
Mr.. Platt
. Hai.in
r. .i1ler
7.7illiarns
r. Hoxton, Secretary.
Reading of the minutes was omitted.
The Governor reported the reserve _positions of the
several Federal Reserve Banks as at close of business December 9th, and the status of rediscounts between the Federal
Reserve .Banks as of the same date.
The Governor re)orted rediscount transactions, manber bank oromissory notes secured by G.overnment obligations,
rate 77; and 7, on connercial no..per, as ibllows:
Date
Dec. 10
Dec. 10
Dec. 10

Bank rediscountinrAtlanta
Dallas
'Kansas City

',7it h

Amount

:;200,000.
Cleveland
4,500,000.
Cleveland
Phil a.delp_hia3,001,325.

7-aturities
Within 90 dys.
11-15 days
11-14 "

The Governor submitted prov)osed stencil letter to be
sent to all ,2e(lera1 Reserve Banks, c;iving instructions regar112IF, the methods to be used in connection with the

of

the books of the Banks .Decepler 31, 1920.




Appro ved.
The Governor submitted draft of proposed circular,

•

1CO2
-2-

X-2089, addressed to all Federal Reserve Banks, requesting a
list of officers and employes of each Federal Reserve Bank
as of January 1, 1921, including data as to salaries, positions,
and duties.
Approved.
Letter dated December 9th from the Governor of the
Federal Reserve Bank of Boston, setting forth the views of the
Board of Directors of that Bank regarding suggestions which
have been made involving changes in the construction of the
Bank vault.




Upon motion of :r. Hamlin, Governor Harding
was requested to suggest to the Consulting Architect that he mrite a letter to the Federal Reserve Bank of Boston, recalling or modifying a •
letter previously written by Yr. Trowbridge to
the Federal Reserve Bank of Boston in regard to
the construction of the vault under the existing specifications. It was the sense of the meeting, also,
that the Consulting Architect should be invited
to meet with the Board next Tuesday, December
14th, with advice that the matter of the Boston
vault will be disposed of at that time.
At 12:45 the meeting adjourned.

Secre tory.