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At a meeting of the Executive Committee of the v'ederal Reserve Board held in the Governor's Office on March 15, 1919, at 11 A. M., PRESENT: The Governor Mr. Hamlin Mr. Broderick, Secretary. Business was presented and disposed of as follows: Applications of the Manayunk National Bank, Phila; delphia; the National Bank of Germantown, Philadelphia and the Second National Bank of Philadelphia, Frankford, Philadelphia, for reduction of reserve requirements in accordance with Section 19 of the 2edera1 Reserve Act as amended. Disapproved. Letter dated March 14th from Mr. Hardy, Chairman ting of the Board, Federal heserve Bank of Richmond, reques S. approval of salary of $3,0J0 per annum for Mr. Jelin Walden, Jr. as Auditor at that Bank; also requesting approval of salary of ;2,400 per annum for Mr. John T. Bank. Garrett, Assistant in the Auditing Department of that Approved. Letter dated March 13th from Mr. Jay, Chairman of the Board, 2ederal Reserve Bank of New York, stating that Mr. Mortimer L. Schiff had made an oral statement to Mr. Strong and to Mr. Jay of the financial condition of 200 the firm of Kuhn, Loeb & Company, and had also furnished 4 written statement, agreeing to give information whenever desired respecting specific bills. Mr. Jay asked to be ad- vised if the information.as outlined in the letter was satisfactory to the Federal Reserve Board, in order that the Reserve bank may consider the bills of the firm as eligible for purchase in accordance with Regulation .3, Series of 117, Paragraph 3, Subdivision 4. Voted that the form of report be approved. Letter dated March 14th from the Comptroller of the Currency, requesting approval of increase in the salary of National Bank Examiner Edgar F. Gossett from ,;,3,900 to 4,200 per annum. Approved. Letter dated March 14th from the Comptroller of the Currency, requesting approval of salaries of Chief National Bank Examiners as follows: $6,600 Mr. J. 71l1iam Pole, 7,0u0 Mr. H. R. Uaither, Mr. Stephen L. Newnham, 6,500 Approved. Letter from the Comptroller of the Currency dated :arch 14th, requesting anproval of salary of :34,200 per annum for Mr. Lloyd R. Freeman as Chief of the Examining 7 -3Division in the Comptroller's office. Approved. Memoranduth by the Secretary dated :.:arch 15th, recommending the aopointment of Ir. E. A. Goldenweiser as Assistant Statistician at a salary of $3,000 per annum, in accordance with the resolution adopted 2ebruary 19th, the appointment to become effective March 15th. Approved. At 11:15 L.L., the meeting adjourned. Secretary. Approved:
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