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Minutes of actions taken by the Board of Governors of the -"J-Reserve System on Monday, February 6, 1920. PRESENT: Mr. Mr. Mr. Mr. Mr. McCabe, Chairman Eccles Szymczak Draper Vardaman Mr. Mr. Mr. Mr. Carpenter, Secretary Sherman, Assistant Secretary Morrill, Special Adviser Thurston, Assistant to the Board Minutes of actions taken by the Board of Governors of the 4a1 13klik Reserve System on February 3, 1920, were approved unanimously. Letter to Mr. Denmark, Vice President of the Federal Reserve cif At ' ante-, reading as follows: sub 4"Reference is made to your letter of January 22, 19)0, foi tting the request of the Bank of York, York, Alabama, or apProval under Section 24A of the Federal Reserve Act, pr.°Posed investment of $100,000, for the construction Of anew bank building at an estimated cost not to exceed coj °00 and for the purchase of new fixtures at an estimated Of $10,000. "It is noted that the present banking quarters have for cual Years been inadequate to serve the needs of the bank's Boarrers. Therefore, in view of your recommendation, the apProVeS the proposed investment in bank premises, prothe aggregate of the proposed investment, including the Of the lot, construction of the building and cost Of ,,!. -'14 furniture and fixtures, shall not exceed $100,000." Approved unan „ l' ielled atimdia' AUIA Secretary.
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