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I. Al OA f-N ,tcr;i0 Upon call of the Governor, a special meeting of the Federal Reserve Board was held in the office of the Board on Monday, December 28, 1925, at 2:45 p.m. PRESENT: PRESENT ALSO: Governor Crissinger Mr. Hamlin Mr. Miller Mr. James Mr. Cunningham Mr. Eddy, Secretary Dr. Stewart, Director of the Division of Research & statistics Dr. Stewart presented to the Board a memorandum, prepared by himself and Mr. Smead, Chief Of the Division of Bank Operations, in accordance with action taken by the Board on December 21st, outlining a plan for the collection and publication of information with respect to Street loans of reporting member banks in New York City and in other Federal Reserve Bank cities. After full discussion, Mr. Miller moved that the Board's weekly statement showing the condition of reporting member banks as of Wednesday, January oth, and thereafter, carry memorandum statements under the caption: "Loans to Brokers on Stocks ana Bonds made by Reporting Member Banks in New York City: For Their Own Account For Account of Correspondent Banks" WWI Mr. Miller's motion being put by the Chair carried, mr. James voting "no". At this point, Mr. McIntosh entered the meeting and. the Governor explained to him the action taken by the Board. Mr. McIntosh stated that there was no need for reopening the matter in order to afford him 12/28/25 -2- • an opportunity to vote as from his understanding of the Board's action he could see no objection thereto. The meeting adjourned at 3:25 p.m.
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