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at a meetin; of the 1.7.- oztive ,Jommi tee of the ?eder-1 l- escrve Board held in the office of the lover or 10 a.m., , Jane 16, of the Eo-rd on .-tar ;:)elano, lovernor Secretar7. rbarg, from Ad- Governor Hrd.ing rresented a tele e al IZeserve .L;ent :rtth of St, leoais r lative to the .jaestion of tral smitti to twerp the dividend stockholders in a nelian water company. to refer the It due W45agreed etion of such rcmittanccs to the. State DC- tent through the Governor. teleLlxam from Governor McI)o jirin 7ihether the 'Federal of 2.1ic-go en- of :Yaicage wothi cserve be aathorized to sabscribe a pro r:Au share to a led J.oss fand was read and aiter discAssion the ,o th .01 ith authority to the tle ill Ater ';:a1-. referred evernor to tLlerarh rendered, to - Bo a telegram from Federal leserve gent Perrin relative to the %.1-ing of dire to , at the proposed Spokane 3ranci, it :as a:;reed to telegraph stating that the amendments to the al deserve t were. till in afl uncertain position and suggestins postponement of action until a decision had been arrived LA in jonz,rress. The application of the :first atioia1 Dank of Or- anL;e, 7,7co., for certain trustee powers, favorably acted upon t the Board meetin2; of June l:73, was nr motion recon- sidered, and it was arced to grant fall powers in pl-ce of the restricted powers already accorded. Mr. Delano stated that he had received from the federal 'Aserve Bank of a brief, setting an 2rancisco forth the rosition of the ?ederal "21.eserve 7.:3, nk of S4n Irandisco regardin certain checks on failed banks in (eattle. Tie also n B.. ,L draft of a letter addressed to the Ad- er-1 ,,ieserve Bank of 'Ilicago raestin:: that it likewise submit a brief on the same subject with a view to est_blishin:3a baris for the ascertainment of liability in the The transmission of the letter was areeei to. 3overnor ardin read - letter received from qov- ernor L.:tronL; of 1:e..a York with reference to the check collection situation under the Hardicl: Amendment to the pendin,; bill amendin the 'federal 'ieserve :ct. discussion it was ,4.ree.1 that _fter 1ardins; should, if he deemed best, transmit this letter to the Senate for pres- entetion there in case of necessity. Telegrams from-1:x. J. E. ?organ and others with reference to the Liberty Loan were presented and contnt noted but no action teken. On motion at 10.30 a.m. the committee adjourned. 'iaPAUVLDt