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560 At a special meeting of the Federal Reserve Board, held in the office of the Board on Tuesday, June 22, 1920, at 4 P.M., PRESNT: The Mr. Mr. Mr. Mr. Governor Moehlenpah Platt Williams Chapman, Secretary. PRESENT ALSO: Mr. Walter S. Logan, Assistant Counsel. Letter dated June 16th from Mr. A. H. Titus, President, First Federal Foreign Banking Corporation of New York City, requesting that a construction be placed upon the agreement of that Corporation with the Board. The Governor submitted for approval, draft of reply. Approved. Letter dated June 19th from the Chairman, Federal Reserve Bank of St. Louis, requesting approval of a rate on member banks collateral notes and rediscounts of all maturities, wholly secured by 5-1/2% certificates of indebtedness or certificates of indebtedness bearing a higher rate, at 5-1/2%. Approved. Letter dated June 21st from the Director, Division of Analysis and Research, in re limiting the size or circulation of the Federal Reserve Bulletin to conserve print paper. Referred to the Bulletin Committee for report. -2Letter dated June 21st from the Chairman, Federal Reserve Bank of Richmond, requesting approval of the expenditure of $250,000 in the acquisition of additional property at Baltimore, Md., for the Baltimore Branch of that Bank. Approved. Memorandum dated June 19th by the Executive Secretary, recommending approval of suggested increases in pay of employees of the Auditing Department of the Federal Reserve Bank of New York, and the approval of the plan of compensation submitted by that Bank. Approved. Memorandum dated June 15th by the Executive Secretary recommending approval of salary adjustments at the Federal Reserve Bank of Cleveland, effective July 1, 1920, and of plan adopted by the Bank for future salary adjustments. Approved. Letter dated June 21st from Assistant Secretary of the Treasury Leffingwell, in re differences in the fiscal agency account of the Federal Reserve Bank of Cleveland. Referred to the Governor for report. At 5 P.M., the meeting adjourned. Approved: Secretary.
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