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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:





Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102