The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
A meeting of the Executive Committee of the Federal Reserve Board was he in the 'office of the Governor at 11:00 a, m., Thursday, February 7, 1924. PRESENT: Governor Crissinger Mr. Hamlin Mr. Eddy, Secretary Draft of letter addressed to all Federal Reserve Agents on the subject ft T_ 411C1'eatie of Capital by State Limber Bank intending to Withdraw". Approved. Llemorandum dated February 7th from the Secretary advising that the kerican Acceptance Council is desirous of revising the pamphlet published it in 1920 on the subject "Federal Reserve Board Regulations Relating to 4ceeptances", and recommending that the Board assist the American Acceptance in this matter and have the Board's Law Office prepare the necessary te to bring the booklet up to date. Approved. Letter dated February 4th from the Governor of the Federal Reserve kilat Of New York referring to the Board's letter of January 25th (X-3953) on the subject "Currency in transit to and from Federal Reserve Banks", and 44:testing that the Board inquire of each Federal Reserve bank as to what 14IiicY it wishes to pursue before announcement of such policy is made to tilenlber banks. Referred to Committee on Currency. Telegram dated February 5th from the Federal Reserve Agent at St. 1,0111 B referring to the action taken by the Board on January 30th in approving the 4145lication of the Liberty Insurance Bank of Louisville, Kentucky for N.411 "ion to establish a branch office in the city of Louisville, subject to 2/7/24 -2- the approval of the directors of the branch Federal Reserve Bank at Iolaisville, and advising that the Louisville directors have approved the aPplication. Upon notion, the application of the Liberty Insurance Bank was finally approved. LQL3TAIDING COMMITTEES: Dated February 5th Dkated February 5th 44ed February 5th Recommending changes in stock at Federal Reserve banks, as set forth in the Auxiliary Minute Book of this date. Approved. Recommending approval of the application of Mr. John Jackson to serve at the same time as director of the National Bank of America and as director of the William Penn Trust Company, both of Pittsburgh, Pa. Approved. Recommending approval of the application of Mr, Southgate Janes to serve at the same time as director and officer of the First National Bank of Durham, N. C., and as director and officer of the Land Bank Durham, N. C. Appioved. The meeting adjourned at 1 a. M. Secretary.
@FedFRASER