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At a special meeting of the Federal Reserve Board held in the office of the Vice Governor at 10 a. m. on Saturday, March 13, ?RESENT: Delano, presiding, :Ir. Warburg Mr. Harding Ni'. Mier Mr. Tanis, Secretary. ward Mr. Harding offered a resolution that hencefor first regular routine business affairs of the Board be given busiplace on tl_e daily calendar as *Viorning Business", such stock, ness to include apTlications for stock, surrender of apolic-Aions for executor and trustee powers, etc. After discussion hr. Harding's motion prevailed and the Secretary was directed to follow the now practice until further orders. The application of the First Uational Bari.: of Bostoll on e.:for an increase in its power of acca:ting bills based portation and Importation was discussed. at On motion the Secretary was directed to write once to all Federal Reserve Agents far such suggestions as they may have for regulations designed to carry out the purand pose of the new Act of Congress relating to acceptances, action also to inform the First National Bank of Boston that will be taken on its application as soon as regulations . can be issued. The question of nublishing the details relating to the expenses of the Federal Reserve Banks was considered and a tentative agreement was reached that a - statement be given to the press to the effect that the condition of the banks as to earnings will be announced on the first of July, next, and that it would be understood that on July 1, and thereafter quarterly, earnings and expenses be included in the regular statement. On motion at 10.45 a. in. the Board adjourned to meet at 11.00 a. m. on Monday, March 15. Jec rotary. Chairman.
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