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At a special rnectinc, of the Federal rAesel.,',_ 1 oard on ronday, March the office of the 3 held , J9 at 11 t7SENT: The Cow:, so r i 11=';', 7 In Loe' =NT ...J :r. :raiGounsel. of us fellow: disc—.7,sed with (:(31-2,- The Governor -ft:Torte: eral the Federal 7eserve ounscl thesuggested 7.7T1 , toard„'of the - abstract of reTort's.Jit.ton of 2atio;lal that 3, loanks as,. of close,ofbusiness December 7,1, 1?,1( not 'General Counsel was of the ol-Anio7n that the 30ard could ••lawfully publish such abstract as -1,1 voted ToJ, It tion duly On to . Yn 6 .estil.,the 4. refer to 155e of 4,7 with. Tower to print :7,ch parts of t7-, deem of Ifitrc.:,st o the Federal The Goici,,y, etofor suant to propAssory on pape -61- orted rediscount transaction :,t,cd in hi pur- member ban',c :t;7red by GD,/,-,:r12'.:'(-1-t obligations: rate socu ed b.7 certificates of indebtedness, and On paper secnrz:d by Liberty bonds 1.-1],1 Victory notes,as follows: Date March 26th Bank ,ediscountinp 3t. Louis With San Francisco 7..:aturities OMnY) l2-15 :Toted. The Governor reported the reserve positions of the several Federal 2eserve banks as at close of business Yarch 25th, and the status of rediscounts between Federal reserve banks as of the same date. (At this point 2.1/.. Harrison withdrew from the meeting) Williams cave notice that at the next meeting of the Board he would move to publish in the forthcoming issue of the Federal reserve Bulletin the resolutions adopted by the Board upon the resignations of Honorable Carter class as .0ecretary of the Treasury and Ex-officio Chairman of the Board, and of 1.r. Albert Strauss, Vice-Governor of the Board. The Governor stated that the meeting with the representatives of the Federal Reserve Bank of Kansas City in re letting of contract for the new bank building of that Bank, would be held on Tuesday, April 6th, instead of April 3d. (At this point Ylr. Williams withdrew from the meeting) -Letter dated Larch 19th from the Governor, Federal reserve Bank of Chicago, in regard to rights of that Bank under a party wall agreement with the Old Colony Life Insurance Company. Referred to the Governor for reply. 7 -0* AH)lication of the Cleveland Trust Company,Cleveland, Ohio, a member bank, for permission to orcrate the Houch Savings Bank, Cleveland, Ohio, as a branch of the trust 'company. Approved. Letter dated March 26th from Ire . James A.. O'Gorman, onclosin copy of F. F. Bill 17090, ,roviding for the so- called German billion dollar credit. Ordered circulated. Letter dated 7arch 23d from the Chairman, Federal re serve Bank' of Pallas, renuestinc approval of salary of 2,500 per annum for Iv.r. C. 1. "Ihitley as Chief Clerk of the TTouston Branch of that Bank. Approved. Letter dated "arch :3d from the r'hairman, Federal Tieserve Bank of Dallas, intuirinr; if the Federal reserve Board desires to have submitted to it for aprroval, individual increases in salaries, where such-increases are in small !mounts. Voted that the Chairnan, Federal eserve Bank of Dallas, be directed to submit to the Federal Peserve Board for approval, all increases in salaries at that Bank before the same are made effective. T'emorandum dated ::arch 5th by General Counsel in -4re tax upon deficiencies in reserves. Ordered circulated and docketed for meeting of the Board to be held Friday, April 2d. PrT'OT?T9 OF CO ITT NO. 1: Dated March 26th, recommending changes in stock at Federal Peserve banks as set forth in the auxiliary minute book as of this date. Apnroved. Dated March 27th, recommending approval of applications for fiduciary powers, as set forth in the auxiliary minute book as of this date. Approved. Dated March 27th, recommending approval of application of P. T. Chapman to serve at the same time as a director of the First National Bank of 7ast 3t. Louis, Ill., and as director and officer, First Tlational Bank, Vienna, Ill. Approved. At 12-10 the meeting adjourned. Secretary. Approved:
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