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AL a special meeting of tile rederal Reserve board lield in une office of tne board on Saturday, January 17, 1920, at 10-b0 A.M., PRESENT: 'rue Governor kr. Strauss mr. Miller Mr. Hamlin Mr. Moeulenpan Mr. Williams kr. DeLaMater, Secretary of meeting. business was presented and disposed oe as follows: On motion duly seconded, it was voted that mr. A. P. busn be desisnated Deputy Unairman of tne board of Directors of tne vow Orleans brancn of tne rederal Reserve bank of Atlanta for tne year 1920. On motion duly seconded, it was voted taat Messrs. w. A. Ket6ig, W. A. Aartford and Jowl U. Cooper be designated unairmen of the boards of Directors of tue Birmin nam, hasnvilla and Jacksonville brancnes, respectively, of tne rederal Reserve oank of Atlanta for tne year 1920. 1,et er dated January 16tn from the Chairman, Federal • urve a Class an D of New Iork witn reference to the nomination of director vice Mr. W. 15. Tim_pson, resigned, inquiring as to whetner an officer of a life insurance company May De considered as eligible for Lnis office under tne provisions of the rederal Reserve Act which requires, witn respect to the occupation of sucn director, that he shall be engaged in -2"commerce, agriculture or some other industrial pursuit". (At this point Mr. Williams joined the meeting) voted that ap officer of a life insurance company would not come within the definition contained in trio provisions of tne Act. Letter dated Jauuary 14th from trio rederal Reserve Agent at Kansas City, requesting approval of increase in salary of Mr. C. K. boardman, Assistant federal heserve Agent, rederal Reserve bank of Kansas eity, from 44,600 to 4o,000 per annum. Approved. lelegram dated January lotn from Deputy uovernor Atteueri, of trio Federal heserve bank of St. Louis, inquiring as to tne propriety of nis serving as member of a committee of tue American bankers Association on uniform scnedule of excuange, collection and service charges for uandling trade acceptances. voted 'Gnat tue uovernor suggest to Mr. Attebery that he do not serve upon the committee, but tnat ue keep in touch with tue situation. Letter dated January 13th from the On/airman, federal Reserve Bank of boston, su mituing questionnaire proposed to be sent to certain economists and otners witn reference to -3reserve and net deposit liabilities and reclassification of reserve and central reserve cities, and requesting authority to send out such questionnaire. Voted tnat tue uovernor suggest to mr. Curtiss that this matter De discussed only among the Federal iteserve banks. Tne trovernor stated tuat Mr. Jay of new lork nad suggested the compilation of information snowing tne practice in the various sub-centers ill each district, with reference to rates of interest paid on deposits, such information to be forwarded for use at tile conference of representatives of the various clearing house associations at Cnicago on January, 23d. Voted that tnis information be compiled and transmitted to mr. neath at Cnicago, for use at the conference. Voted further that mr. Hoxton be instructed to attend the conference. Letter dated 'January 14th from tne chairman, rederal heserva bank of Dallas, requesting approval of increase in the salary of Mr. Iteese T. rreeman, Cnief of Accounting Di- vision, 7.ar Loan Department of that bank, from 42,b00 to ,i2,800. per annum. Approved. Letter dated January 14th from tne Cnairman, rederal -4Reserve Bank of Dallas, transmitting minutes of meeting of tne board of Directors of that bank, recommending a salary of $1(,5°0 per annum for ciovernor Van Zandt, and 4.12,000 per annum for Deputy kiovernor Talley. Voted to disapprove salaries recommended for t.iovernor van Zandt and Deputy uoveruor Talley, the uovernor to so advise mr. Ramsey. i7elegrams from various member banks in the Eleventh Yederal Reserve District, protesting against tne abolition of tno Talley clearing plan as of February 10, 1920. Referred to Mr. noxton for report after consultation witn Mr. Paddock. Telegram dated January 16th from nollins v. nandolpn, Counsel or tne rederal Reserve bank of Atlanta, advising of modification of the restraining order of the rulton Superior Court issued to the federal Reserve bank of Atlanta. voted. Letter dated January lbtu from the cnairman, federal Reserve bank of Atlanta, transmitting applieation of the Cnattanooga Clearing douse Association that cnattanooga be designated as a country bank city instead of a reserve cit. Noted. Telegram dated January lath from the Cnairman, federal Reserve bank of Pniladelpuia, submitting schedule of discount -5rates to be acted upon by tne executive committee of that Dank at its next meeting. voted. Telegram dated January lutn from the cnairman Fed- eral Eeserve baak of Kansas city, advising tnat mr. William mee, President, Security National bank, Oklanoma City, Oklahoma, would accept appointment as a director of the Oklahoma City brancn, out that mr. J. M. berry, Vice-President, central National bank of Tulsa, Oklahoma, can not accept appointment as a director. Taoled for the meeting of Lae board to held on Tuesday, J anuary 20tn. oe rielegram dated January lotn from idle cnairman, federal Reserve bank of Pniladelpnia, inquiring wnotner tne •••• federal Reserve oanks are to pay Lae expenses of Lae representatives of Lae clearing nouse associations attending Lne coaierence to be neld at Cnicago on Januar," 23d. Referred to tne uovernor for negative reply. AL 12-20 P.1%, tile meeting adjourned. Secretary of meeting. Approved:
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