The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
176 11 meeting of the Federal Reserve Board was held in the office of the Federal deserve Board on Thursday, February 24, 1927 at 11:15 a.m. RIESENT: Governor Crissinger 1.1r. Platt Mr. Hamlin Mr. Miller Mr. .7.cIntosh Mr. Noe11, Asst. Secretary Mr. McClelland, Asst. Secretary Telegrza dated February 23rd. from the Chairman of tho Federal Reserve Bark of Boston, advising that the board of directors on that day made no chanCe in the bank's existini: schedule of rates of disccunt and purchase. Noted. eport of Committee on Examinations on letter dated February 7th from the Federal Reserve Agent at Cleveland., recommending approval of an application Of the Union Trust Company of Cleveland. for pennission to open a branch at Or near the corner of Kinsman and. Warrensville-Center Road,'Shaker Heights 111aCe, Ohio; the Cormnittee also recommending approval. Approved. The minutes of the meetinRs of the Federal Reserve Board held on Izibrua rY 14th, 16th, 17th, 18th and. 19th were then read and approved.. The minutes of the meeting of the Federal Reserve Boaxd and Executive Conznittee held. on February 23rd. aere then read. and the recommendations and 4eti°12e of the Executive Committee were adopted and ratified. The Governor then referred. to and discussed with the members of the the recent closing of the Central National Bank of Marietta, Ohio. Following a discussion, it was upon motion voted. that the Governor have an inquiry made of the conditions surromoing the failure of the bank, with a view of determining more particularly whether the Federal Reserve 177 2/24/27 -2- Bank of Cleveland through its proper departments used dale diligence in keeping itself informed of the loan and credit policies and general condition of the bank. The Governor then stated that a secial meeting': of the Board will be held tomoriau morning at 9:45 a.m. at which s-Tecial order of business will be the applications of the Federal Reserve Bank of iichmond for permission to establish a branch in the Carolinas and to locate the branch, if authorized, at Charlotte, N. C. He stated that the early hour was fixed to perMit the attendance of the Secretary of the Treasury. 11-EPORTs op STAIMING COLIIITTEES: Dated, February 23rd, Recommending changes in stock at Federal lieserve banks as set forth in the Auxiliary Lrdnute Book of this date. Approved. The meeting adjourned at 12:20 p.m. Assistant Secret App roIred: 4r.
@FedFRASER