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2093 A meeting of the Federal Reserve Board was held in Washington on 111118dellr, July 12, 1934, at 11:00 a. m. PRESENT: Mr. Mr. Mr. Mr. Mr. Black, Governor Hamlin Miller James Thomas The Board met in executive session to discuss the question of a locn 4 _ "4.- Ion for the proposed new building of the Federal Reserve Board in Wa shinzton. The Governor and Mr. Miller reported the result of a preliminary e°11versation had with Mr. Delano, Chairman of the National Capital Park Commission, with reference to a suitable location for the diU the Federal Reserve Board was authorized to erect for its pur- P°ses in Washington under Senate Bill 3487. The Board, after the members conferred among themselves, invited 141'• Delano into the meeting for a conference. Mr. Delano stated that he 44-Considered the matter further, and. had eMbodied his views in a memoranc/141 whieh he read to the Board and which reads as follows: "I have kept in touch with the discussions which have gone on in the last few weeks between the committee of the Federal Reserve Board and the Committee of the staff of the National Capital Park !xid Planning Commission. I appreciate the reasons why the Federal l'.eserve Board wishes to proceed without delay in the matter of the Plans for a new building in accordance with the recent authorization of Congress, and on behalf of the National Capital Park and Planning Commission, I submit the following: "That I will propose to the National Capital Park and Planning Commission that it recommend to the President that the Federal Re!erve Board be assigned squares E88 and the south part of E87 for It 4ii mrazdiate and prospective use, upon the following general con'4 "1. That the buildings to be built on such plots shall be located as to building line to conform with existing or proposed structures on the adjacent squares. The exterior design and 2094 7/12/34 -2- material of all buildings shall be subject to the approval of the Commission of Fine Arts. "2. / believe I shall have no difficulty in securing ratification from members of the Park and Planning Commission and of the Secretary of the Interior, and I will arrange to have the President comnmnicated with by wireless and ask for his approval of the proposed assignment of the above mentioned squares, and will keep the Board fully informed." After informal discussion of the matter further with Mr. Delano hswithdrew from the meeting. Thereupon it was voted, on motion of Mr. James, as follows: 1. That we express to Mr. Delano the Board's appreciation of his cooperation and his aid in assisting us in finding a suitable location. 2. That the Board approve the two blocks indicated as the location of its new building in Washington. 3. That the Board approve the procedure set forth in Mr. Delano's suggested proposal, with its suggested restrictions, and request him to proceed in the execution of that proposal. 4. That in addition to the suggestions in Delano's proposition the Board approve the reimbursement of the Government for the two blocks. Thereupon the meeting adjourned. Go rnor.
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