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At a meeting of the Federal Reserve Board held in the office of the Board on Wednesday, March 10, 1920, at 11 PRESENT: The Yr. Mr. Mr. Mr. Mr. Governor Strauss Miller Hamlin Williams Chapman, Secretary. Minutes of meeting of the Board held March 9th were read, and on motion approved as amended. Business was presented and disposed of as follows: The Governor reported rediscount transactions, pursuant to authority heretofore vested in him; member bank Promissory notes secured by Government obligations; rate 61 en Paper secured by certificates- of indebtedness, as follows: Date Bank Rediscounting With March 6th (Cleveland Philadelphia.... (Dallas March 9th Philadelphia Minneapolis Amount !6,500,000 5,000,000 3,000,000 Maturities 1 1-15 days ft Noted. The Governor stated that he was advised by the Federal Reserve Agent at Philadelphia that early action was desired on the following increases recommended in salaries of Junior officers of that Bank, in view of the fact that several of them had received more attractive offers from other institutions: H. Hutt, jr., W. A. Dyer, W.J.Davis, James M. Toy, F. W. LaBold, R. M. Miller, jr., 7amuel P. Earl, Position Deputy Governor, Cashier, Asst. Cashier, tf It tO From To 12,000 ;0.5,000 12,000 9,000 6,000 7,500 6,000 7,500 4,500 6,000 4,500 6,000 4,500 6,000 4,500 6,000 Voted to aprrove the above increases wdth the exception of those for Deputy Governor Hutt and Cashier Dyer, with respect to which the Governor was authorized to request that the directors of the Federal Reserve Bank of Philadelphia renew their recommendations after Governor-elect Norris has entered upon his duties. PPPOPTS OF COMMITTEE NO. 1: Dated March 10th, recommending admission of State institutions as set forth in the auxiliary minute book as of this date, subject to the conditions stated in the individual reports attached to each application. Approved. Dated March 9th, recommending changes in stock at Federal Reserve banks, as set forth in the auxiliary minute book as of this date. Approved. Dated March 6th, advising of resignation of Yrs. Evlyne B. Mason, Clerk•Counter in the Federal eserve Issue and Redemption Division at .0.,040 per annum, effective March 5, 1920. Noted. Other business was presented and disposed of as follows: Letter dated March 8th from Controller of Investments Tr 'Tenzel of the Federal Reserve Bank of New York, in re desire °f the Belgian Acceptance Syndicate to have declared eligible for investment by Federal Beserve banks, a renewal of the acceptances maturing under the agreement in Yay next. Eeferred to Mr. Strauss for reply. At 12 noon, the meeting adjourned. Secretary. Approved:
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