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1199 A meeting of the Board of Governors of the Federal Reserve System was held in Washington on Friday, June 19, 1936, at 11:00 a. v. PRESENT: Mr. Eccles, Chairman Mr. McKee Mr. Mr. Mr. Mr. Morrill, Secretary Bethea, Assistant Secretary Carpenter, Assistant Secretary Clayton, Assistant to the Chairman Consideration was given to each of the matters hereinafter referred to and the action stated with respect thereto was taken by the Board: Telegrams to Messrs. Kimball and Clark, Secretaries of the Federal Reserve Banks of New York and Atlanta, respectively, stating that the Board approves the establishment without change by the New York bank on June 18, and by the Atlanta bank today, of the rates of discount 414 purchase in their existing schedules. Approved unanimously. Letter to the "First National Bank in Meridian", Meridian, Mississippi, reading as follows: "The Board of Governors of the Federal Reserve System has given consideration to your application for permission to exercise fiduciary powers, and grants you authority to act, when not in contravention of State or local law, as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics, or in any other fiduciary capacity in which State banks, trust companies or other corporations Which come into competition with national banks are permitted to act under the laws of the State of Mississippi, the exercise of all such rights to be subject to the provisions of the Federal Reserve Act and the regulations of the Board of Governors of the Federal Reserve System. "This letter will be your authority to exercise the fiduciary powers granted by the Board pending the prepare- 1200 6/19/36 —2— "tion of a formal certificate covering such authorization, Which will be forwarded to you in due course." Approved unanimously. Memorandum dated June 15, 1936, from Mr. Parry, Chief of the Division of Security Loans, referring to the authority granted by the Board on April 17, 1936, for the printing and distribution of a publication to be known as "List of Stocks Registered on National Securities Changes", and requesting authority to publish the first supplementary list which was contemplated at the time of the granting of the above a uthority, to be known as "List of Stocks Registered on National Seenzlities Exchanges: Supplementary List indicating changes from April 1 to May 31, 1956, both dates inclusive." The memorandum stated that including the supplementary list proposed to be published now, it apneared that the publication of only two, or at most three, supplementary /lets for the year 1936 would keep the list sufficiently current for the Purposes for which it is published, and recommended that, in view °I this fact, the Board distribute the supplementary lists free of charge to member and nonmember banks and other interested persons during the remainder of the current year, and that the matter of making 11 charge for such lists be taken up when and if the Board authorizes the Publication of a new list as of December 51, 1956 and supplementary lists during 1937. Approved unanimously. Thereupon the meeting adjourned.
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