Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, January 23, 1923, Volume 10, Part 1

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

A nv.)eting of the L;xecutive Committee of the Federal Reserve Board.
was held in the office of the Federal Reserve Board on Tuesday, January
23rd, at 11:15 a.m.
PRES3NT:
.

Vice Governor platt
Hardin
/.:r. Iioxton, Secretary

The Vice Governor reported the reserve positions of the several
Federal Reserve banks as at close of business January lath, 19th and 20th.
Letter dated January 19th, from the Governor of the Federal Reserve
Bank of New York, reporting on currency conditions in Porto Rico, and making recommendation with relation to the matter of supplying new currency
to take up unfit currency now circulating in the Island.
Ordered circulated.
Letter dated January 23th, from the Under Secretary of the Treasury
advising that the Treasury Department has authorized the Branches of the
Federal Reserve Bank of San Francisco, to commence coin operations on 'February 1, 1923.
Not ed.
11-- (YPTS OF (1011:17272 NO. 1:
Dated January 20th,
22nd,

Dated January 15th,
20th,
Dated January 20th,




Recommending 4ction on applications for changes in
stock as set forth in the Auxiliary Yinute Book of
this date.
Approved.
Recommend nig action on applications for fiduciary powers
as set forth in the Auxilit.ry rinute 'nook of this date.
Approved.
$
Recommending act ion on application.tor fiduciary powers
as set forth in the Auxiliary l'iinute Book of this date.
Ordered held,.

1/23/23

)0flTS OF COT2ITT2,2 NO. 1 (Cont 'd.)
Inli.
Recommending approval of the a.pplicat ion of Mr. GeorQe W.
T.;:arle, to serve at tho same tim3 as director of the First
Fond -Du-Lac Nat ional Bank, Fond-Du-Lac, "'isconsin, as
officer and director of the First National Pank, Hermansvine, Michigan, and as officer and director of the American _.ecurity Bank,' Iron Mountain, Michigan.
Approved.
(Board decides latter institution
not ithin its jurisdiction, therefore, consent of Board unnecessary.)
J.
Dated January 20th, Recommending approval of the app heat ion of Mr.
Krause, to serve at the same time as director of the
Mercantile Trust Comiany, St. Louis, Missouri and as
Vice ?resident and director of the Missouri National
Bank, St. Louis, Missouri.
App rov ed.
John J.
Dated January 113th, Recommending approval of the app lie at ion o f
ard
officer
as
director
.1.41sh, to serve at the same time
in the Irving Park National Bank, the Albany Park National Bank and the Portage Park Nat ion9.1 Bank, all of
Chicago.
Approved.
Dated January 20th, Recommending approval of the application of Mr. 311,7ard
D. Ibbotson, to serve at the same time as director of
the First National Bank, Richfield Springs, N.Y. and as
director of the Oneida National Bank, Utica, 'N.Y.
Approved.

Dated January 2Dth,

At 11:40 a.m. the meting adjourned.

Secret ary.
APProved:




Vice Governor.