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r-77 A meeting of the Federal Reserve Board was held in the office of the Federal Reserve Board on Monday, June 17, 1929 at 11:20 a.m. 2RESENT: Governor Young Mr. Hamlin Mr. Miller Mr. James Mr. Cunningham Mr. McClelland, Asst. Secretary The minutes of the meeting of the Federal Reserve Board held an June 14th were read and approved, as amended. Telegrams dated June 14th from the Secretary of the Federal Reserve Bank of Atlanta and June 15th from the Chairman of the Federal Reserve Bank Of Kansas City, advising that their boards of directors at meetings on the dates stated made no changes in the banks' existing schedules of rates of discount and purchase. Without objection, noted with approval. Matter approved on initials on June 14th, namely, bond in the amount Of 450,000 executed under date of June 10th by Mr. John F. Prahl, recently designated as Acting Assistant Federal Reserve Agent at the Los Angeles Branch. Formally approved. Bonds in the amount of 450,000 each executed under date of June 13th by Mr. Fulton Saussy, recently designated as Acting Assistant Federal Reserve 14th by Mr. William Agent at the Jacksonville Branch, and under date of June at B. Elliott, recently designated as Acting Assistant Federal Reserve Agent the Baltimore Branch. Approved. list submitted Report of Committee on Salaries and Expenditures on -2-- 6/17/29 by the Federal Reserve Bank of Richmond of employees for whom the directors of that bank approved leaves of absence with pay, on account of illness, during the month of May where the total of such absences since January 1, 1929 has exceeded thirty days; the Board's Committee recommending approval Of the salary payments involved. kpproved. of Letter dated June 14th from the Chairman of the Federal Reserve Bank New York, requesting approval of a salary of ,12,000 per annum for Mr. Robert and M. O'Hara, recently appointed Managing Director of the Buffalo Branch, Q eallry of V1,000 per annum for Mr. Robert M. Morgan, who succeeds Yr. O'Hara as Manager of the Bill Department at the head office; both effective June 1, 1929. Upon motion, the above salaries were approved. of directors The Governor then submitted a resolution adopted by the board Of the Federal Reserve Bank of Atlanta at its meeting on June 14th, requesting of six months, to that the Board authorize or permit that bank, for a period Tampa, Fla., eligible reaiscount for the Citizens Bank and Trust Company of and acceptable paper acquired by it from any or all of the following nonmember banks: First State Bank of Ft. Meade, Fla., Bank of Pasco Co. of Dade City, Fla., Bank of Ft. Myers & Tr. Co., Ft. Myers, Fla., Bradenton Bk. & Tr. Co., Bradenton, Fla., Bank of Plant City, Plant City, Fla., Bank of Ybor City, Tampa, Florida, Tampa, Florida, Franklin Bank, Tampa, Florida, Lafayette Bank, Bank, Tampa, Florida. Ave. Citizens-Nebraska j i 579 -3- 6/17/29 The Governor stated that this resolution was presented to him today by Mr. Newton, Chairman of the Atlanta bank, and he reported discussion which he had With Mr. Newton regarding the condition of the Citizens Bank and Trust Company Of Tampa and the situation in the territory which it serves. He stated that 11.r. James and the Comptroller of the Currency also discussed the matter with Mr. Newton and join in a recommendation that the authority requested be granted. After discussion, upon motion, it was voted that the Federal Reserve Bank of Atlanta be authorized to rediscount for the Citizens Bank and Trust Company, Tampa, Fla., for a period of six months, Tod eligible paper acquired by it from any or all of the nonmember banks named above. lignRTS OF STANDING C0121IT2ZEQ: aecommending changes in stock at Federal Reserve Banks as set forth in the Auxiliary L:inute Book of this date. Recommendations arproved. on an application for admission of a action g Recommendin Dated, June 14th, state bank, subject to the conditions stated in the individual report attached to the application, as set forth in the Auxiliary .'.i.nute Book of this date. Recmmendation approved. Dated, June 14th, 15th, The meetino: adjourned at 12:30 p.m. Assistant Secretary. %roved: tO Governot.
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