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257 A meeting of the Federal Reserve Board was held in the c)ffice of the Board on Wednesday, March 30, 1921, at 11:00 a.m. PRES=: Governor Harding Mr. Platt Mr. Hamlin Mr. Miller Mr. Crissinger Hoxton, Secretary. Minutes of the tw) meetings of the Board held March 29th were read and on motion approved. The governor reported the reserve positions of the several Federal. Reserve banks as at close of business March 28th and the status of rediscounts between the Federal Reserve banks as of the same date. Letter dated March 28th from the Assistant Cashier of the Fourth Street National Bank of Phila delphia, requesting privilege Of accepting drafts drawn won that bank for the purpose of ft.rni shii1P> dollar exchange covering such countries previously designated by the Board. Approved. In accordance with the action of the meeting of the Board held ye sterda y morning, I:arch 29th, Mr. Hardi n recommended approval Of the drafts of the two letters dated March 28th, prepa red for the e iP;rnture of the Governor and addre ssed to the Chairman of the Fedel Reserve Bank of San Francisco and to the Italian-A merican Bank °I' San Francisco relative to certain drafts covering shipments of 258 -2- - cotton to Japan. Approved. RM) ORTS OF CCMMITTEE NO. 1: Dated March 29th, Recommending changes in stock at Federal Reserve banks as set forth in the auxiliary minute book as of this date. Approved. Dated Mair...h 29th, Recommending approval of the application of Mr. Edward K. Cherrill to serve at the same time as vice president and director of the Atlantic National Bank of New York City and as director of the Hancock County National Bank of Carthage, 111. Appro ved. Dated March 29th, Recommending ap pro val of the application of Mr. Semour R. Smith to serve at the sane time as president of the Hackettstown National Bank of Hackettstown, N.J. and as director of the North Ward. National Bank of Newark, N. J. Appro ved. At 1:00 p.m. the meeting adjourned. APPro ved
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