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.ht a regular meeting of the -Teieral deserve Board held in the office of the Board tt eleven a.m. on 7;'riday, January at 11 a.m., r. Harding, presiding, :Ir. Delano, Er. qamlin, secretary. Er. Er. .:arburg, The minutes of the meeting of the Board held on January 23 were read and, on motion, approved. The minutes of the meetings of the ;old 1,xport tee held on January 24 and 2i5 -Jere read and, on motion, approved and he action therein set forth ratified. The report on salaries of officers of the ?ederal deserve Bank of Cleveland, made a special order for this !i.ecting, vas taken from the table and considered. On motion, it WZ.,.F voted that no change be ride in the ii2O,OUO, salary of lovernor 4'ancher, but th,_4t it re,,.ain as no;; at : tnat the salary of ;J'ederal deserve Agent ,:ills be fixed at Jovernor Hardin to state the situation to the officers affected. .Euler vas recorded as voting in the negative as to the salary of federal deserve 'gent Crovernor ttarding re2d a letter from ?cderal Reserve Jay advising the Board of the election of Irr. J. 2. Oartis as Deputy Governor and IJounsel of the 7ederal Reserve Bank of Uew York, his salary to be .g6,000 per annum as Dreviously proposed by the Feder 1 Reserve Bank of rew York. On motion of 1,1r. Delano, it ac voted to approve the proposed salary. Lir.7iller vas recorded as not voting. lye were recorded The rembers voting in the affi as voting in the ffirmative only because of the exs statement of Governor strong ari Director that t action.in the opinion of the direct proper administration of the Bank. .1 letter of Mr. ", a. Garrett of the Nashville Jlear- House, iniring as to rates to be fixed -for . per pe- d by Liberty Bonds, was read and referred to the Governor for reply. A letter .from-2ederal Reserve It Hardy regarding the disappearance of funds shipped, from Richmond was read and noted. letter from J. !..ailer regarding sundry i:inor fi- nancial irrega arities at the Federal Reserve Bank of I:ew York, in answer to an iniry sent by Governor Harding concernin7 ir 'LT1rities no nntterhow trivini, wa rend and noted. oposed letter fronederal .eserve tent definition of svirvrs aceo7ant Li lhanc,ses in the , . on nlot ion, it V4'411 read and, rc1ations voted to continue pre- jth- oit ch.!:.n,7,e. r e 43*ent .:ZW1,361, re o ;•Liniz letter from 2 d m.1 2or the indebte( less, ale of certifi ed. i€ h.:7 re - mem in Lrters niit and L:ariintion, v.t.s read and the . or the Division of f ehnges ordered pit into effect. jlan of Jnruary eserve ;•ested by 7ederal .;old into the of :abraded !, -, 4, for the2,....t•1ering. proved, the 1- ecretl.r7 so to o. is . Perrin. - roper'" letter from the Llien f the d si.:;nation of the '‘,74"Ei 7)0 tericLtn istodinii rel:.tive to oinninl ian of I orto deo rend and the letter referred to the'ov- crnor for iuvestjntion. • wcre rend and, on :lotion. approved us fo los: ed- wab rend, and trio cmi Lt cierve Ban'. of.•.,`an nr rin by wire Dated January 25, re salarieb at 'Anneapolis; 25, re salary of 'eixaminer nneman; re salary of .1],xamner ::artin; ,a, re a proposed letter to state member banks reg:Irding exaninations, and the letter ordered transmitted by tie qovernor, subject to siach change as might be needed. report of ,,;ommittee 1:o. 1 regardin: the appointrent of :.1r. ,. D. Lower as 3eneral Bookkeeper and 2,sitant 2ederal Reserve .t:gent at the Omaha 3rancq, tcntatively approved, sAbject to revbcation. Reports of ;ommittee ro. 2 were read and, on motion, approved as folloxs: Dated Janaary 24, favorin; the pur3hcse of r,tock in the erican ; - breign Banking Jorpor-tion by the :lanufacturers "raders rational Bunk of Buffalo. Dated J:Inaar7 24. recomAending 100:: acceptance ro.:ers for the Peoples ilational Banh of Pitt - turgh, r4. lated January '' recommending 100: acceptance po4ers for the State street "rust 3ompany of Boston. Dated January 24, recom.ltendin; the -.1aintelance of collection charges on trade eptances.e::.cept in certain cace, referred. to ;o7 rnor 7ardin, for reply to in,iiiirers ILAj' Dated January 25, rec rciJln the adisSion to the 77ederal aeberve syster7„ of the followln:::ii tittioi, a-pon col;ditions ,med in each case: Lrbor, 771c.q. 7,abbock, errnLavinz,s Bank 6tate 7rast ,I.ompany Lie:carity tte 3ank A)tAittee 7o. .7; 11:,v1ns. reported a letter fro% the Amptroller of the ,1arrency re compens:Itien to eertaindirutors of the Bank of :i.ttsb zh, with the statement that no farther action was needed, the docuents were passed to file. 7pon recommendation of .;orivAittee ofr.',..;astav TO. .5 the Lrplicatioa Lcan111 aLder t;le 'Jlayton -Ton recommendation of 7,!mitlftittee ct, was „!:pproved. O. 5 the zIpplicatiola of the Ti. L. ::ational Baxik for power to act as trastee, eccutor and adiListrator', was ordered held for more Information,:overno Harding presented business which was acted Apon as follows: 4, letter fro'. ',;(overnor :7,cDoua1 statin that the jetroit Branch would soon be opened - read and noted. L letter from -.."ederal deserve ,,,L7ent lia-IFe7 re me-nbersh in the Dallas District. - read and noted. 4. letter from the :qrst ,tate .-3ar:k of lreshtm, Grevn. read and referred to Arrnittee :o. 1, the iovernor. to rep17. r.:.:111er read a letter from s2ederal A serve ,;;. 'ent 4 -1 Li Perrin re branch :t lt Lake City, whiCn wz- c, noted. On mtion of La-. Jalin, there ':a mittee To. referred to 'C the matter of making inqiry into the•proppr- tion of the 6econd Liberty man that has actually been absorbed by investors, Lind the proportion still held by banks. -n. 2., • at 12.45 p.m. the Board adjourned to :o
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