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Pursuant to the terms of adjournment, a meeting of the Federal Reserve Board was held in the office of the Board on Thursday, January 26, 1922, at 11:00 a.m. PRESENT: Governor Harding Mr. Platt Mr. Hamlin Mr. Mitchell Mr. Hoxton, Secretary. The minutes covering the session of the meeting held yesterday were read and on motion approved. The Governor reported the reserve positions of the several Federal reserve banks as at close of business January 24th. Memorandum dated January 25th, from the Chief ofttle Division of Reports and Statistics, submitting with favorable recomwendation a method of handling the buildine_ account of the Federal Reserve Bank of Chicago, as sumested by Mr. Cramer, the Cashier of that Bank. App lo ved. Memorandum dated Jantr_ry 25th, from the Chief of the Division of • • Reports and Statistics, with reference to the carrying upon the books of the Bank the figures representing the value of the bank vault of the Federal Reserve Bank of Philadelphia. Approved. Letter dated January 24th, from Mr. Warburg, President of the International Acceptance Bank, requesting that the said Bank be authorized to accept drafts drawn for the purpose of furnishing dollar exchange by banks or bankers in the Dutch :r..ast Indies. Upon motion, ordered docketed as special order business next Monday, January 30th. The Governor stated. that the next thing in order would be the matter docketed ar special order business for today at the meeting of yesterday, namely, the application of the 'Federal Reserve Bank of Atlanta to proceed with the construction of improvements and. additions to the rresent building of the ITashirille Branch. Upon motion, it was voted that the Board interposes no objection to the. Federal Reserve Bank of Atlanta proceeding with the construction as stated. With reference to the petition of the St.Louis Clearing House Association that St.Louis be designated as a reserve city, arri which V.las refer- red to a special committee consisting of iessrs. ritchell and crissinger by the Board on 7an.16th, Mr.1,:itchell advised that the Committee will bring up and report on this matter at the meeting of the Board. to be held next Wednesday, February 1st. The Governor submitted draft of letter addressed to Senator T'cLean, Chairman of the Senate Committee on Banking and Currency, presentino the views of the Board on Senate Bill 3051 10058) introduced into Congress at the instance of the ConrTessional Joint Commission on Agricultural Inquiry. Approved. C012.1I ME NO. 1: PORTS Dated Jan. 26th, Reco.nmending changes in stock at Federal Reserve Banks, as set forth in the auxiliary minute book as of this date. .Appnved. At 12:30 p.m. the meeting adjourned. 14 Approved: Secretary. Governor.
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