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, c. Upon call of the Governor, a meeting of the Federal Reserve Board was held in the office of the Governor on Tuesday, May 20, 1930 at 11:50 a.m. PRESENT: Governor Young Mr. Platt Mr. Hamlin Mr. Miller Mr. James Mr. Cunningham Mr. LcOlelland, Asst. 3ecretary The Governor reported a telephone conversation with the Governor of the Federal Reserve Bank of Philadelphia during which Governor Norris advised that the Philadel9hia bank has secured an option for the purchase of certain Property in Philadelphia adjoining the Federal Reserve bank building,and that he would like to coma to dashington and discuss the proposed purchase with the Board at its meeting on Thursday, May 22nd. The Governor stated he had advised Governor Norris that this would be agreeable to the Board. Mr. Cunningham then referred to the previous informal discussions of the Board with regard to the question of the appointment of a Class C Director, Chairman and Federal Reserve Agent at the Federal Reserve Bank of Chicago, which appointment will come before the Board at the end of the current year, and stated that the Committee on District #7, of which he is Chairman, would like to know 4hat the position of the Board would be if the Committee investigated the situation and found it desirable to recommend that a change be made. A discussion followed during which it was indicated that the members of the Board would be willing to approve a change if recommended by the Committee and, upon motion, the Committee was authorized to canvass the situation with regard to a Class C Director, Chairman and Federal Reserve Agent at the Federal Aeserve Bank of Chicago and report back to the Board with its recommendations. -2- 5/20/30 464 meeting adjourned at 12:15 p.m. Weeeee0 611 Assistant Secretary. Approved: Gove
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