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21_62 A meeting of the Board of Governors of the Federal Reserve 87811E311 was held in Washington on Thursday, December 3, 1936, at 11:30 PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Broderick Szymczak McKee Davis Mr. Mr. Mr. Mr. Morrill, Secretary Bethea, Assistant Secretary Carpenter, Assistant Secretary Clayton, Assistant to the Chairman Consideration was given to each of the matters hereinafter rererred to and the action stated with respect thereto was taken by the 13oard: The minutes of the meeting of the Board of Governors of the Pede ral Reserve System held on December 2, 1956, were approved unani111011Ely Telegram to Mr. Geery, Federal Reserve Agent at the Federal Reserve Bank of Minneapolis, authorizing him to issue a. limited voting perkit + ' 0 the "Northwest Bancorporation", Minneapolis, Minnesota, entitling elleh or ganization to vote the stock which it owns or controls of "The Third N orthwestern National Bank of Minneapolis", Minneapolis, Minnesota, 411Y time prior to January 1, 1937, to elect directors of such bank. Approved unanimously. Letter to Mr. Parker, First Vice President of the Federal Re0 Bank of Atlanta, prepared in accordance with the action taken at the keeting of the Board on November 25,1936, and reading as follows: 2163 -2"Reference is made to your letter of November 2, 1236, with respect to the appointment of Mr. P. L. T. Beavers, 'ssistant Cashier of the Federal Reserve Bank of Atlanta, in his individual capacity as trustee under an indenture of trust executed by the Gainesville Replacement Homes, Inc., as of October 1, 1936. "The Board has given careful consideration to the cire mstances surrounding Mr. Beavers' appointment, including his willingness to serve and the desire of your bank to cooperate, but feels that, as a matter of general principle, °fficers and employees of the Federal reserve banks should °t accept an appointment of this kind and, accordingly, that ,Beavers should arrange to be relieved of his responsiN-Ilties as trustee under the deed of trust at as early a date as is practicable in the circumstances. In this conit is noted that the deed of trust provides that he may resign as trustee upon thirty days notice." Approved unanimously. Letter to Mr. Knoke, Assistant Vice President of the Federal Re8erve Bank of New York, prepared in accordance with the action taken at the ,r "eeting of the Board on December 1, 1936, and reading as follows: "The Board appreciates the information contained in Y°11r letter of November 20, 1956, with respect to the visit at Your bank of Mr. Jaenicke, Manager of the Foreign Ex!114Inge Department of the Reichsbank, and your intention to .̀ 1.scuss with him unofficially certain matters relating to , ransactions handled through the account maintained by the 'sichsbank with the Federal Reserve Bank of New York. "The report of your discussions with Mr. Jaenicke will be awaited with interest by the l'oard." Approved unanimously. Thereupon the meeting adjourned. OP P (2=v, Chairman. Secretary.
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