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kt a regular meeting of the Federal Reserve Board held in the office of the Board on Tuesday, July 16, 1918, at 11 A.L., PRLSENT: Mr. Mr. Mr. Mr. Mr. Mr. Harding, presiding Warburg Delano Hamlin Williams Willis, Secretary. The minutes of the meeting of the Board held on July 10th were read and on motion approved. The minutes of the meetings of the Executive Committee held on July 13th and 15th were read and on motion approved and the action therein set forth ratified. The minutes of the meetings of the Gold..Lxport Committee held on July 11-16, were read and on motion approved and the action therein set forth ratified. The minutes of the meetings of the Board with Governors of Reserve Banks on July 1st were reported back to the Board by Yr. Delano and ordered passed to file. letter from Assistant Secretary of the Treasury woyie re the printing of the Federal Reserve bank notes and 2ederal Reserve notes was read and discussed and an oral report made by Governor Harding. The question of the Secretaryship of the Board being brought up by Governor Harding for discussion, the following action affecting the Board's staff wLs on motion taken: :1204 1. The resignation of the Secretary of the Board was accepted effective August 31st. 2. The Secretary of the Board was relieved of regu- lar duty at close of business July 31st. 3. Lir. J. . Broderick was elected Lcting Secretary of the Board pending final selection of a secretary, his appointment effective August 1st, he to report as soon thereafter as may be arranged with him. 4. The Secretary of the Board was relieved as jecre- tary of the Gold Export Committee and Er. L. 5. Adelson was appointed Secretary of the Committee effective July 17th. 5. The salary of Lir. L. C. Adelson as Assistant . 4 / . Secretary of the Board was fixed at 16,01 )0 per annum, effective September 1st. 6. The question of suitable acknowledgment of the ser- vice of the Secretary of the Board was referred to the Executive Committee. Lemoranda from Chief Examiner Broderick re the staff of the Division of Audit and ,,I.xamination were read and accordingly Er. Examiner at „. Paddock was appointed Zederal Reserve 4,200 per annum, and Mr. John A. :,ill was au- thorized to perform such travel and direct such travel by Assistant Lxaminers and employees who may be assigned to his office as he may deem best. -3- The ..;ecretary of the Board to whom had been deleLated the selection of a Librarian announced the appointment of Liss Llary 2ellen at ,1,20J per annum, effective July lGtn. The resignation of !Jr. C. L. Jett, effective July 25th, was on motion accepted. 2, letter from Federal Reserve Agent Perrin transmitting a letter from Baron T. Legata relative to an AmericanJapanese bank was referred to the Gold Export Committee. A memorandum report from Committee Lo. 3 re certain lost halves of Federal Reserve notes was read and referred back to Committee No. 3 for further investigation. A letter from the .ecretary of Agriculture enclosing a memorandum re the relation of the Farm Credit jtatement to short time bank credit for farmers was presented and ordered printed in the next bulletin. Miscellaneous discussion ensued. On motion at 12:15 the Board adjourned. Secretary. Approved: