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59 A meeting of the Federal Reserve Board was held in the office of the Federal Reserve Board on Monday, January 20, 1930 at 10:30 a.m. PRESENT: PRESENT ALSO: Governor Young Mr. Hamlin Mr. Miller Mr. James Mr. Cunningham Mr. McClelland, Asst. Secretary Mr. Smead, Chief, Division of Bank Operations Messrs. Worthington, Leedy and Mayer of the Federal Reserve Bank of Kansas City. Mr. F. L. Carson, President of the First National Bank of Wichita. Messrs. Chester I. Long and Peter Q. Nice of Washington. Senator Thomas of Oklahoma Senator Capper of Kansas Congressman Ayres of Kansas Mr. Hanson, Superintendent of Mils at Oklahoma City. Mr. Sutton, Manager, Oklahoma City Clearing House. Mr. Walter Ferguson, Muskogee, Okla. The Governor stated that the meeting was arranged in order that the 80ard might hear representatives of the Federal Reserve Bank of Kansas City and the Wichita petitioners on certain questions of fact concerning mail Schedules, in connection with the application for the establishment of a 8ranoh Federal Reserve Bank at Wichita. Before proceeding with the dismission of that subject, however, Mr. Iolle presented an original petition signed by the twenty-eight members of the joint committee representing the 507 member and nonmember banks in Kansas, Colorado, Oklahoma and Texas which are applying for the branch at Wichita, slid also the answer of the Wichita representatives to the reply brief filed bY the Federal Reserve Bank of Kansas City, with a schedule of mail train service on all points in the proposed Wichita Branch territory. Mr. Carson then discussed, in detail, the Wichita position on the qUestions in controversy which were replied to on behalf of the Kansas City 60 11 1/20/30 -2- bank by Deputy Governor Worthington and Counsel Leedy. Stenosraphic notes, although not a verbatim report, of their statementswere made which are in the files Of the Board. Deputy Governor Worthington presented a schedule of mail service prepared by the Federal Reserve Bank of Kansas City with corrections to January 11th, on Which the pOSitiMol of that bank in the controversy is based. He also presented a menorandum on the subject of grain drafts which he asked be made a part of the Board's record in the proceedings. The meeting adjourned at 1:45 p.m. Assistant Secretary. Approved:
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