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Pursuant to the terms of adjournment., a nceting of the Federal Reserve 13card was held in the off ice of the 'Board on December 4th at 10:45 A. II. • Vice G-overnor Platt 7.1r. Hamlin Llit ellen Grissiner r. Hoxton, Secretary. The minutes of the special meeting held_ on Liaturday, :December 2nd, were read and, on motion, appr oved. The Vice Governor reoorte6 the reserve positions of the several Federal Reserve ban;s as at close of business December 1 1922. ...iller called the attention of the Board to the fact that no announcement has been made to the parties at interest of action taken at a illsetin of the Board held on October 10, 1922 whereby the followini. motion was carried by a majority vote: "riloved that the Board make no chatios in its nresent regulations defining savines deoosits, and that the so-called soecial savings accounts in certain California banks mast hereafter be regarded as demand deposits against which must be carried. the reserve, required by the Federal Reserve Act, to be carried against demand deposits". After discussion 1•4. Liiller stated that in order to sere th0 final disposition of this nutter, and. with a view to making formal reply to the representations made to the Board on June 14, 1922 by Lir. of Los Anceles, California, he moved Lo reconsider the action Of the Board taken at its meeting of October 10, 1922, and also that such reconsideration be ordered docketed as soecial order business for the rseetin of the Board. to be held next 'lednesday, December 6th. 12/4/22 -2- Mr. Miller's motion vas seconded by Mr. Mitchell and carried, Yr. crissinq.er voting "no". Memorandum dated December 2nd, addressed to the Board by Gm ral Consel, with the favorable recomm_ndation of the Chairmen of the Law Committee, submitting manuscript of a Digest of the Rulings of the Federal Reserve 'oard, and requesting the Board to authorize the publication of the Digest in bcok form and that copies be offered for sale to member banks and the general public. Approved, with the understanding that the Digest will be carried forward to the 0116 of the current year and published then complete. remorandum dated December 2nd, from the Comptroller of the currency, transmittinp; with favorable recommendation, and under certain specified conditions, the application of the Citizens National rank of '7ashington, Georgia, to reduce its capital stock from 100,000 to '75,000. Approved. Letter dated December 2nd, from the comptroll r of the 'urrency requestinc7 approval of a salary of M2700 per annum for rational Pank Yxaiiner A. 2. riles in the 2ifth District. • Approved. Draft of letter dated December 2nd, prepared by Assistant Counsel ror the signature of the secretary addressed to the Deputy Governor of the Pe,keral Reserve Rank of St. Louis with reference to C.e deduction of exchange by a member bank for remittance to cover a check sent for collection to the 2e Lei'al Reser -e IBank of St. Louis by the Federal Reserve 12/4/22 Bank of T)alh.s. Approved. The Slice Governor stated that Mr. ugene Meyer, nnaging Director Of the -far Finance Corporation desired to confer rith the Poard with respect to certain proposed legislat'on, said cnference to be held to— morrow, at 11:30 a.m. if practicable. Upon motion, 11:30 a.m. tomorrow (Tuesday) was fixed for conference with Yr. Yeyer, and the matter ordered docketed as special order business. Fr. Filler called up a resolution offered by him at the meetinp: of October 10th, 1922, upon which no final action has been taken, and thich had reference to the examination of state member banks. These resolutions were fully discussed as a basis for a formulation pf new resolutions upon the same subject. At 1:10 p.m. a recess was taken until three o'clock this afternoon. The 'Tice qovernor, Fr. Filler, Fr. Fite ell, rleneral Counsel and Fr..Hoxton, 2ecretary, assembled in the Board room, in accordance with the terms of adjournment. There br_ing no quorum"present no business was transacted. Secretary. Appr.,ved:6., 'Tice qovetnor.
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