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At a special meeting of the Federal Reserve Loard
helo in the office of the Governor on Saturday, February,
16, 118,

3:30 P. M.,

PRESENT:
Mr. Hardin, presiding,

Mr. Hamlin,

Mr. Warburg,

Mr. Miller,

Mr. Delano,

Mr. Willis, Secretary.

On recommendptiol of Committee No. 2 it war, on
motion, voted that the Gunrnnty Bank t Trust Co., of
Memphis, Tenn., be admitted to the Feder,11 Aeservc System, upon condition& named by the Committee.




On motion, at 3:45 P. M., the Board adjourned.
A;JROWD:

Secret-lry.
ChFlirman