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tit 4,t a regular meeting of the ?ederal eserve Board .'riday, held in the office of the Board at eleven a. m., on , March 23, PRESENT: Harding, Presidirg, Mr. 4arburg, 1,:r. Liner, . Villis, ecretzry. Mr. Hamlin, The minutes of the meeting of the Board held on dednesday, Larch 21, were read and, on motion, pproved. The minutes of the mcetin:: of the Executive Committee held on Thursday, Larch 22, were read and, on motion, approved, and the action therein set forth ratified. The :,)ecretry of the Board read a resolution conveying the thanks of the ?arm Loan Board for the use of the 3oard 'doom. The resolution was ordered passed to file. .An application of the 7ederal eserve Bn1( of :;ew York for power to woroint the Philippine National Bank as its agent and correspondent in the Philippine Islands, was read and, on motion, granted. Correspondence with Federal eserve Igent Perrin relative to public relations work and the collection of checks on ftiled 0eattle banks, was referred to the Executive 'iommittee with power to act. letter from :;:r. :.:arcs ;ialker relative to receiving deposits from the ?.,rm -oan Bank was read and, on motion, referred to the Law :jommittee for investis%tiou. A letter from qovernor Seay with reference to F:;eneral trAnkini; conditions was read, and after discassion it was a7reed that the Executive Committee shoald prepare a statement for possible public-tion, sabmittin, :7 the same to the Board and, if necessary, to the Department of State. : . liscelUne us execative'correspondence was presented , and ordered placed in the Lxecutive ?older. J:T.tnes in capital stock, duly recommended by the 2ommittee on Llember l'Atus, were approved s fol- lows: ;.pplications for rrender of „tock. District ro. 1. .ational 3ank Second' Lhares. 2an[;or, 160 100 L4 72 54 150 District"..o. 6. Tirst rational 2auk ,Jordele 2lational 3ank ?irst rational Eanl:. rashville, "xa. .,;ordelc, q . Vicr.m., .7,.. 3.03 District “ . 10. "qrst National Bank :Lynch, :Cur. 16 18 District No. 12. First National Bank National Bank of commerce St.Johns, Oreg. Seattle, 4ash. 36 150 166 534 Total 4pplications for _dditio:...1 District 5 National Bank of iommerce National Bank of .;aynesboro National Bank First National Bank 359 Baltimore, LA,. 30 Hopewell, Va. 11 daynesboro, Va. Parkersburg, :I. WI. 93 493 District No. 9. First National Bank, First National Bank First National Bank United States Nat'l Bank ilarmarth, fl.Dak. Perham, 1.'inn. Hobson, Zont. Deer Lodge, :4ont Total 3 1 2 3 9 502 Applications for Original '-'tock. District 9. First ':%tional Bank District geyser, -ont. 15 15 Channin, -ex. Fayetteville, 7cx. Schwerthcr, LcLean, Mx. 17 17 16 16 73 11. Fin't National Bank Farmers National Bank First National Bank American National Bank District No. 12. First National Bank Lioab, Utah, Total 11E 301 On motion the thte of June 4 was approved as the time for the meeting of Federal Reserve Agents, the Governnr to send appropriate advice. The Secretar7 of the Board p nted a report with reference to the allotment of bond offerilv;li of member banks, and indioating a pl%n for the adjustment of the theoretical allotment of the actual offerings. He was authorized to write appropriate letters adjusting the assignments. A telegram from Federal deserve Agent Perrin rela- tive to the question of establishing a branch of in the Pacific Northwest was read and, on motion, it as voted that 2:r. Lililer 'Inald visit the Pacific Northwest at his early convenience and rcport his findings with reference to the sitaation there. letter from Secretary artis of the federal ae- serve 3ank of New York relative to the drawing of clean drafts on hile, with favorable report by Er, Alrbarg, was read and referred to the Governor for answer with advice f Counsel. 305 It was agreed that a meeting of the Law Committee be held at 3 p.m. this day. On motion at 11.40 a.N. the Board adjoarned to meet on Tuesday, March 27, ut 11 a.m. Secretary. APPROVED: 011.,Armn.
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