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de8 A meting of the Federal Reserve Board was held in the office of the Board on Wednesday, June 1, 1921, at 11:45 a.m. PRESENT: Vice Governor Platt Mr. Hamlin Mr. Mil ler Mr. Mitchell Mr. Criss inger Hoxton, Secretary. Minutes of the meting of the Board held May 31st were read and on motion approved, as amended. The Vice Governor reported the reserve positions of the several Federal reserve bcnks as at close of business May 28th. and the status of rediscounts between the Federal reserve barks as of the same date. The Vice Governor re Do rted red is co unt transactions, member bank promissory notes s eciz ed by Government obligations, rate 6, as follows: Dat e Bank reai scounting With May 31 May 31 Richmond Minneapolis New York New York May 31 Dallas Boston Amount ';10,000,000 5,000,000 2,500,000 Mat unit ies 11-15 days 11-15 ") 1-90 ") 11-15 " Letter dated May 26th, from the Chairrran of the Federal Reserve Bank of Philadelphia, stating that, with the approval of the Federal Reserve Board, he should like to appoint Mr. George Augherton, of the examining force of the Federal Reserve Board, as Examiner for the Federal Reservti Bank of ;Dhiladelphia, at a salary of E -2- I $4,500 per annum. Approved. Letter dated May 31st, from the Director of the Division of Analysis & Research, with reference to securing quarters for that Division in New York City. Referred to Governor Harding with power. Letter dated May 28th, from the Chairman of the Federal Reserve Bank of New York, transmitting, subject to the approval of the Board, the action of the Board of Directors of that Bank in employing at $7,500 per annum Mr. H. N. E. Gleason for temporary work in making a thorough and effective audit of the expenditures for the new building, and. carrying on during the course of construction a current audit of the general contractor's books. Referred to Governor Harding with power. REPORTS OF COMIT'Prir NO. 1: Dated May 26th, Recommending action to be taken on applications for Fiduciary powers, as set fcrth in the auxiliary minute book as of this date. Approved. Dated May 26th, Recommending approval of applications for admission of state institutions, subject to the conditions contained in the individual reports attached to the applications, as set forth in the auxiliary minute book as of this date. Approved. Dated June 1st, Recommending that authority be given to certain national banks to purchase stock in Edge Corporations, as set forth in the auxiliary minute book of this date. Approved. ci 10 -3- At 1:15 p.m. the meting adjourned. Secretary. Vice Governor.
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