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182 meeting of the Federal Reserve Board was held in the office of the Board on Wednesday, Yarch 2, 1921, at 11 a.m. PRE=T: Governor Harding flr. Platt Mr. Hamlin Mr. Miller Mr. Inns T. Williams Mr. Hoxton, Secretary. PitlISENT ALSO: Mr. Logan, General Counsel:. Minutes of the meeting of the Board held March 1st were l'ead, and on motion, approVed. The Governor nported the reserve positions of the several Federal Reserve banks as at close of business February 28th, and the status of rediscounts between the 'ederal Reserve banks as of the same date. The Governor reported rediscount transactions, member, bank l'romissory notes secured by Government obligations, rate 77, as Date Baia rediscounting , Dallas Feb. 20 With Cleveland Amount 4,000,000 Maturities 11-15 days Letter dated February 20th from the Railway Loan Advisory C ommittee, requesting approval of a form of loan, in the aunt Of 579,000, to be made to the Indiana Harbor Belt Railroad Com- 17)11Y, in four parts, under the provisions of Section 20 of the "ansportation Act, 1920, as amended. Approved. 183 " -L., "'" ,bruary 28th, from the Secretary of the Letter dated FE, Federal Reserve 73an7f: of 7.7c-1,7 York,rjtsting ap.proval of the apintrnen t of ITes sr'. dos eph 2Harii10 Frederick Hofm.yer as Of , ci ort V. '.71dman and edera1 Reserve exf,rninors to act on behalf le Federal Reserve Board aid. the Federal 7,eserve 71.1..7. of Mew York.. Ao-:proved. '0' ) ,T5 OF 0017:1ITT 1:0. 1: Dated 3'ebrucr7 20th. -?econirnenlino a)orov--1 of the aDlication of J. Flood to servo at tne s.-unc, time Mr. as officer and director of tao 2170.7-Lanr.e -ational T3onk of zi.00lmne. aryl as director of the Olymoia Rational Bank of Olyn.)ia, 7,Tashin7,ton. Aiproved.. D3ted. L?obral 17 28th, 73.e00rarie apnro v: 1 of the a? 21 ic?.t i on of hr. hilliam hart ley to serve at the same time as officer and director of tochanae :I-tiona.1 Bank of Spokane, and as director of the Olynoia Rational Bank of Olympia,. -lash. Approved.. Dated I.-arch 1st. -Recorrtnendin,-; a,)proval of tie appointment of hiss I'lathryn 2. 71inchell as clerk-Counter in the Federal 17,es,rve Issue and -ledemotion Division, at a salary of :1,020 )or annum, vice Miss Catherine R. De Mont, resi Approved. j.,etter dated March 2d, from Mr. J. Connell, announcing his resi7-Lation as stenographer on the F - ederal Reserve Board, detailed to the office of the Comotroller of the Currency, effective at the close of business :.Tarch 15, 1921. 7.7ot ed.. Mr. 71illiams stated that he understood that Mr. Connell was entitled to about two weeks vacation at . ne•posed to take that vacation this time, and that he .i i "uetv.reen nov. a n. March 15th. Go vernor Harding advised Ir. ':/il 1lams that the Board. was ilow ready to consider any further matters vhich the Comptroller Of the Currercy mir,ht wish to bring before it. r. Williams sug- ested that the proceedings take the form of a continuance of the illeetiag held on Monday, February 28th which was reported verbatim bY a stencr;rapher. Upon motion, therefore, the official stenog- rapher. Mr. Cox, was sent Ibr and directed to mite a stenographic report of the ensuing proceedings. Before adjournment, Governor Hardin;; stated_ that the -xecutive Committee desired to submit a report signed by all members of that Committee, relative to the letters addressed by the Cor7ptrollar of the Currency to the -,?ederal *Reserve Boa-d during the past year. - eUpon motion .of Mr. Miller, the report of the & eutive Committee was ordered read, and it was so read. by Er.Platt. ecut ive Committee Upon motion, the report of the was ordered received and. al)proved by the Federal Reserve Board. This act ion of approval was voted for by all members of t Board present, with the exceotion that Mr. Williams refrained from voting. Governor Harding asked Er. Williams if he intended to furnish the list of names requested in the letter of the ;.3ecretar.c.r dated 7ebriziry 14;, 1921, and. again requested. by the Board at the moetin of ;-3aturday, February 25th. In r'Tly to this question, Mr. ',71.1livrns submitted. to the Board a letter stating that he declined to furnish the list .of wares reouested aid giving his reasons there.11 • Governor Harding asked Er. Williams if he was vzil hag to ! 185 ftirnish the 1onr1. as requested in letter o so Lrc 1st. ,.•:ith the ed :Tenor. shoot submitted to the Comptrol1 er th ,:Tat io al nBait minor in connection with the re)ort of the exrninati on of t116. Chase :tional Bank' f New 'York as of October 3: 1919. 'ly to this question. 1.7r. V1iUiair f In re- sub-flitted to the Board a c opv the so-called. yellow sheet referred to, with the ifforrf.tion he thousit it best to fUrnish a copy, in vier of the fact that the crip:inal document in his loossessioa had, become torn. All further 1.)rbeeedirr;s of this meotinr oe recorded. in the steriora9hic rel)ort. At 1:20 p.m. the Tile eti n adjourned.
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