The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
f A meeting of the Federal Reserve Board vas held in the office of the Governor on Iklesday, February 26, 1924, at 11:10 a.m. PR.1331T2: Governor Crissinger Ur. Hamlin Ur. Miller Mr. James Ur. Eddy, Secretary. The minutes of the meeting of the Federal Reserve Board held on February 20th were read and approved. The minutes of the meeting of the Federal Reserve Board held on February 25th were read and approved. The Governor then presented a telegram dated February 25th from the Federal Reserve Agent at San Francisco, referring to the action taken by the Board On that date in authorizing the Bank of Italy and the Pacific Southwest Trust and Savings Bank to take over the Valley Bank of Fresno and its branches, as requested by the State Superintendent of Backs; the Federal Reserve Agent transtatting a request from the Membership Committee of the Bank that the Board extend its permission so as to permit either the Bank of Italy or the Pacific Southwest'Trust and Savings Bank to tako over.the Valley Bank of Fresno and its branches in case arrungements could not be consummated for the two banks to act jointly, After discussion Ur. Miller moved that the following telegram be sent to the Federal Reserve Agent at San Francisco: "Replying to your telegam, please refer to Superintendent's wire to Board. Board 'in its reply had in mind Superintendent's representation that it might be necessary to give e' her or both banks mentioned permission to take over and opera such branches of bank as he shall designate. This covers made in your telegram." Mr. Miller's motion being put by the 't 1:0 C is carried. . the Boa fadjourned to moot 4PPrOyed: Secretary. Govorlio
@FedFRASER