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At a meeting of the Federal Reserve Board held in the office of the Board on Saturday, March 13, 1920, at 11:20 A.M., PRESENT: The Mr. Mr. Mr. Mr. Mr. Governor Strauss Miller Hamlin Willaims Chapman, Secretary. Business was presented and disposed of as follows: Memorandum by Mr. Roxton, dated March 10th, recommending method of increasing travel allowances of Federal Reserve Examiners. Referred to General Counsel for report. (At this point Mr. Williams joined the meeting.) Letter dated March 11th, from the Secretary of the Federal Reserve Bank of New York, submitting for approval form of agreement between that bank and the Bank of Japan, pursuant to authority granted by the Board at its meeting on December 5th last. Referred to General Counsel for review. REPORTS OF COMMITM NO. I: Dated March 12th, recommending changes in stock at Federal Reserve Banks as set forth in the auxiliary minute book as of this date. Approved. Discussion then ensued as to the method to be pur- -2sued in handling the exPected overdrafts of the United States on Federal Peserve Banks, beginning Larch 15th. It was the sense of the meeting that the course heretofore pursued in the handling of the Treasurer's account should be pursued during the period mentioned, providing that such overdrafts will not appear on the weekly statements of the Federal Reserve banks. Memorandum by Mr. Imlay dated March 12th, submitting for approval form of letter calling upon Federal Reserve banks to reimburse the Board for their proportions of the cost of express and insurance covering shipments of gold coin from the Denver Mint to the United States Subtreasury at San Francisco. Approved. At 1 the meeting adjourned. Secretary. Approved:
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