The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
210 Upon call of the Governor, a special meeting of the Federal Reserve Board was held in the office of the Board on Wednesday, March 3, 1926 at 2145 P.m. PR7S77T: Governor Crissinger :a'. Platt Mr. Hamlin 17.r. Miller Mr. Cunningham Mr. McIntosh "Ir. Eddy, Secretary Mr. McClelland, Asst. Secretary :dr. A. P. Gianinni, Chairman of the Bank of Italy, presented to the Board the matter discussed informally at a conference with certain members laet Friday afternoon, namely, the desire of the Bank of Italy to consolidate the Liberty Bank of San Francisco, the Bank of America of Los Angeles, alld the Commercial National Trust and Savings Bank of Los Angeles and to 44tiona1ize the consolidated institution. tatas Of Discussion ensued as to the the proposal under the Board's Hegulation H and Mr. Gianinni's l'agilost for the Board's approval to the consolidations in question prior to his securing the approval of the Superintendent of Banks of the State of California. Miller raised a point of order, which was sustained, and Mr. Giantani left the meeting. Following the discussion, upon motion by Mr. Hamlin, a special committee consisting of the Governor, Vice Governor and the Comptroller of the Currency was appointed to examine carefully into the question and report to the Board, Mr. Cunningham voting "no". Miller then gave notice of his intention to move that the By1aft 0f the Board 'which became effective March 1st be amended so as to 211 3/3/26 -2- include in Article 13 a provision that "No motion shall be made or adopted by the Board at a meeting or conference when others than the members of the Board and its secretarial staff are present." The meeting adjourned at 4:00 p.m. Approved:
@FedFRASER