The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
A meeting of the Federal Reserve Board was held in the office of the Governor on Wednesday, December 29th at 11:30 a.m. PRESENT: The Mr. Mr. Mr. Mr. Vice Governor Hamlin Wills Williams Hoxton, Secretary. Minutes of the meeting of the Board held December 28th were r3ad,and on motion, approved. The Vice Governor reported the reserve positions of the several Federal Reserve Banks as at close of business December 27th, and the status of rediscounts between the Federal Reserve Banks as of the same date. With reference to the amenied By-laws and arganization chart of the Federal Reserve Bank of Chicago, referred to the Executive Committee December 23d, the Committee reported with a recommendation of approval, with the exception that the Member Bank Relations Department thould be under the jurisdiction of the Chairman of the Board, rather than under the jurisdiction of the operating officers. Committee report concurred in. With reference to the Board's proposed comments upon the action taken by the last Governors' Conference, referred to the Executive Committee December 1, 1920, the Committee submitted its final recommendations. -2- 1061 Action of the Committee concurred in, and the Secretary instructed to prepare a letter addressed to the Governors of all Federal Reserve Banks, transmitting the comments by the Federal Reserve Board on recommendations made by the Governols, Conference held October 14 and 15, 1920. Memorandum dated December 25th, from the General Counsel, recommending approval of articles of association and organization certificate of the Federal International Banking Company 81 New Orleans, together with a proposed press statement. Approved. Letter dated December 27th, from the Secretary of the Federal Reserve Bank of Chicago, recommending increase in salary of Mr. H. M. Butzel, Assistant Counsel at the Detroit Branch, from 4600 to 41,000. Approved. Letter dated DecoMber 22d, from the Chairman of the Federal Reserve Bank of Richmond, requesting approval of the Federal Resarve Board of certain salary adjustments for employes engaged for night work. Approved. Letter dated November 30th, addressed to the employes Of the Federal Reserve Board from the employes of the Austria' Hungarian Bank, of Vienna, Austria, appealing for aid in the 1062 way of provisions, clothing, etc. Referred to the Vice Governor with power. REPORTS OF CallITTEE No. 1: Dated Dec. 27th, Recommending refusal of application of Mr. A. C. Foster to serve at the same time as Director of the United States National Bank, Denver, Colo., and as Director of the Bankers Trust Company, Denver, Colo. Approved. Dated Dec. 28th, Recommending refusal of application of 1.:r. M. W. Gano to serve at the same tiiTe as Director of the Denver National Bank of Denver, Colo., and as Director of the Barkers Trust Company, Denver, Colo. Approved. Dated Dec. 28th, P,ecommending refusal of application of ::r. K. C. Schuyler to serve at the Sa me time as Director of the Denver National Bank of Denver, Colo., and the Bankers Trust Company, Denver, Colo. Approved. Dated Dec. 28th, Recomending refusal of application of 1.7r. S. N. Hicks to serve at the same time as Director of the Denver National Bank and the Bankers Trust Company, both of Denver, Colo. Approyed. Dated Dec. 28th, Recommending refusal of Epplicat ion of 1:r. H. C. James to serve at the same time as Director of the Denver National Bank and the Bankers Trust Company, both of Denver. Colo. Approved. Dated Dec. 28th, Recommending refusal of application of 1.7r. C. 1.7acA. Willcox to serve at the same time as Director of the Denver National Bank and the Bankers Trust Company, both of Denver, Colo. Approved. Dated Dec. 27th, Recontmend.ing refusal of application of 7.:r. J. C. 7.7itchell to serve at the .me time as Director of the Denver National Bank and the Bankers Trust Company, both of Denver, Colo. Approved. refusal of application of Recommending Dec. 28th, Dated Mr. J. B. Grant to serve at the same time as Director of the Denver National Bank, and the Bankers Trust Company, both of Denver, Colo. Approved. -4 1UO3 Dated Dec. 28th, Recommending refusal of application of Mr. E. S. Kassler to serve at the same time as Director of the United States National Bank, The Bankers Trust Company, and the Denver Morris Plan Company, all of Denver, Colo. Approved. Dated Dec. 27th, Recommending refusal of application of Mr. Albert A. Reed to serve at the same time as Director of the United States Iational Bank, and the Bankers Trust Company, both of Denver, Colo. Approved. refusal of application of Recommending 27th, Dec. Dated :Tr. Finley L. MacFarland to serve at the same time as Director of the United States rational Bank, and the Bankers Trust Company, both of Denver, Colo. Approved. refusal of application of Recommending 27th, Dec. Dated to serve at the same time Wilson T. E. Yr. the of United States rational Director as Trust Company, both Bankers Bank, and the of Denver, Colo. Approved. Dated Dec. 27th, RecommendinF; refusal of application of Mr. James Ringold to serve at the same time as Director of the United States rational Bank, and the Bankers Trust Company, both of Denver, Colo. Approved. approval of application of Recommending Dated Dec. 28th, 1.:r. Joseph Wayne,ii'. to serve at the sarre time as Director and President of the Girard rational Bank, of Philadelphia, as Director of the Germantown Trust Co. of Philadelphia, and as Director of the Provident Life and Trust Co. of Philadelphia. Approved. Dated Dec. 27th, Recommending approval of application for 28th, fiduciary powers as set forth in the auxil29th, Lary minute book as of this date. Approved. 1061 Letter dated December 23d, from the Chairman of the Federal Reserve Bank of New York, reporting certain charge offs authorized, by that Bank, in accordance with the terms of a letter of December 18th from Govelhor Harding. Not ed. At 12:30 p.m. the meeting adjourned. Secretary. Vice Governor.
@FedFRASER