The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
111)on call of the Governor, a special meeting of the Federal Reserve 330ard was held in the office of the Federal Reserve Board on l'hurs'a;y-, December 6th at 3:20 p.m. PRES=: Govcxner Crissiner Lai. Platt Mr. Hamlin Mr. Miller Mr. as,nes Mr. Cunningham Mr..Koell, Assistant Secretary The Governor presented a telegram, dated December 6th, from the G(Arernor of the Federal Reserve Bank of Minneapolis roost ing action by the Bot,r(3: on the recommenclation of the recent conference of Governors "That each Federal Reserve Bank notify each other Federal Reserve Bank of all non-Dar banks or nonpar points on which they will not handle non-cash collections," re,luestinc to be advised by wire of the Board's action. .4fter discussion of this matter, durin_; which Governor Stronts, Ohairman of the Governors' Conference, was called into the meeting, the Board, upon Trove the recommotion by Mr. Hamlin, voted to al: mendation of the Governors' Conference and ordered that all Federal Reserve banks be advised thereof. he Cleverer then submitted a letter, dated Deceriber 1st, from Mr. tarl'ison, 'Secretary of the Goyer:ors' Conference, enc.losin - a copy of the 4 rnila„. of the Conference and calling the Board's attention to certain rnatters relative to which the Board has asked for a recommendation or lie Coilierence has submitted to the Board. Upon motion, Mr. Harrison's letter and enclosure were ordered circulated amen,: the members o.,* the Board for their information, and referred to t]Le z,cecut ive Corrnitt00. 12/6/23 After discus ion as to the terms for which directors of branch Pederal Reserve bo.nks are appointed,Euler made the following totict: "It is the sense of the Board that provision should rade for rotation in the terms of the Federal Reserve banks' and Beard's appointees to the boards of directors of reserve bram'nes and that the matter of working out details of aich a plan should be referred to the Board's Committee on Branches." Carried, lar. Hamlin then inquired ,v.hen the Board would be prepared to receive the report of the Committee on Nominations with regard. to the appointment Ot class "Cr' directors and the designation of Federal Reserve Agents. Upon motion, this matter vas made special order of business for a .aeotin to be held. taillOITOW at 10:00 o'cloc. he Governor then presented a letter, dated December 1st, from the Co11, ),, roller of the Currency icuesting approval of 3•1.6,500 salary of 4. 13Gr annum for Mr. Owen T. Reeves, Chief National Bank acaminer of the Second Federal Reserve District. Approved. The meeting adjourned at 4:30 p.m. lior 4 Pproved: '...ssistant Secretary.
@FedFRASER