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979 A meeting of the Board of Governors of the Federal Reserve SysWas held in Washington on Tuesday, June 29, 1943, at 2:00 p.m. PRESENT: Mr. Eccles, Chairman Mr. Ransom, Vicc Chairman Mr. Szymczak Mr. z‘icKee Mr. Draper Mr. Evans Mr. Mr. Mr. Mr. Morrill, Secretary Bethea, Assistant Secretary Carpenter, Assistant Secretary Clayton, Assistant to the Chairman The action stated with respect to each of the matters hereinafter referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Fed- Reserve System held on rune 28, 1943, were approved unanimously. Telegram to Mr. West, Vice President of the Federal Reserve Bank Of L'an Francisco, reading as follows: "Reference letter June 23. Board approves appointment of Harold C. White as assistant examiner. Please advise date appointment becomes effective." Approved unanimously. Telegram to Mr. Sproul, President of the Federal Reserve Bank of NeW lork, stating that, subject to conditions of membership numbered 1 to 6 contained in the Board's Regulation H, the Board approves the application "the '%echanics and Farmers' Bank of Albany", Albany, New York, for menbe P 1 ' 'e "c in the Federal Reserve System and for the appropriate amount of in the Federal Reserve Bank of New York. The telegram requested 980 6/29/43 -2- that the Federal Reserve Bank advise the applicant bank of the Board's 4Proval of the application and conditions of membership prescribed, towith necessary instructions as to the procedure for accomplishing rae mbership, and stated that a letter containing detailed advice regarding "'eh approval would be forwarded to the applicant bank through the Reserve 4-1111c• The teler-,ram contained the following additional statement: "Standard condition of membership numbered 6 has been Prescribed in order that its provisions may be invoked at any time in the future if necessary, but as in other cases and in accordance with the general authorization previously granted by the Board, you are authorized to waive compliance with the condition until further notice in so far as the condition applies to funds which are given statutory preference in the State of New York." Approved unanimously. Letters to "The Chardon Savings Bank Company", Chardon, Ohio, and the "Roosevelt State Bank", Roosevelt, Utah, reading as follows: "The Board is glad to learn that you have completed all arrangements for the admission of your bank to the Federal Reserve System and takes pleasure in transmitting herewith a formal certificate of your membership. "It will be appreciated if you will acknowledge receipt Of this certificate." Approved unanimously. Telegram to Mr. Tyner, Assistant Cashier of the Federal eserve 114161c of Kansas City, reading as follows: "Board approves changes in Interdistrict Time Schedule requested in your Tune 24 letter. Letter of advice being sent to all Presidents." Approved unanimously, together with the following letter to the Presidents of all the Federal Reserve Banks: 981 6/29/43 -3- "Upon request of the Federal Reserve Bank of Kansas City, the Board of Governors of the Federal Reserve System has approved the following changes in the Interdistrict Time Schedule for cash items: To From 2 days day 1 Kansas City to Memphis days 3 days 2 Denver to Little Rock days 3 days 2 Denver to Louisville 3 days 2 days Denver to Memphis 3 days 2 days Denver to El Paso 3 days 2 days Denver to Houston 3 days 2 days Denver to San Antonio 3 days 2 days Denver to Portland 2 days" 1 day Denver to Salt Lake City Thereupon the meeting adjourned.
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