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(1 A rnseting of the Federal Itesarve Board was held in the office of the Board on Wednesday, June 7, 1922, at 11:00 a.m. PRESENT: Vice GoNernor Platt Mr. Hamlin Mr. Miller Mr. Cr issinger Mr. lioxton, Secretary. Minutes of the meeting of the Board held on June 5th were read and 031 mot on approved.. The Vice Governor reported the reserve positions of the several Federal reserve banks as at close of business June 5th. Mr. Hamlin submitted a naemorandurn dated June 6th, from Tr. E. W. Freeman, Assistant Counsel, giving an opinion as to the application of the Budget and Accounting Act of 1921 to the Federal Reserve Boerd, ani moved that the Secretary be instructed to acquaint those in charge of the accounting of the Federal Reserve Board with the contents of the said memorandum for their info mai on and guidance. Carried. Letter dated June 6th, from Senator Harris of Georgia, requesting infoxmation as to the number of banks in the United States which wauld be eligible for rrembership in the Federal Reserve System, should Senate Bill 3531, introdired by Senator Harris, be passed by Congress and signed_ by the President. lb Upon motion, the Secretary was instructed to secure the information desired by Senator Harris from the Federal reserve banks. 287 Upon motion of Mr. Miller, it was voted that the time of the regular meetings of the Board be changed from 10:30 a.m. to 10 a.m., beginning next Tuesday, June 13th, and to continue during the period that the daylight savings schedule elan be in force in the City of 7,7ashington. BIT-PORTS OF COI.2.T.IT7E3 NO. 1: Dated June 6th, Recornnending changes in stock at Federal reserve banks, as set forth in the alxiliary minute book of this date. Approved. Letter dated June 5th, from the Comptroller of the Currency, re- que st ing approval of a salary of n2700 per annum to be paid to Mr. James B. iiernd.on, Jr., National Bank .L:xarniner in the Eleventh Federal Reserve District. Approved. At 11:35 a.m. the meetint3 adjollrned. APPle ved 4110/7 Vice Governor. rr
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