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421 At a special meeting of the Federal Reserve Board held in the office of the Governor at 12.45 p. m. on Monday, May 24, PRESENT: Er. Hamlin, presiding, Mr. Harding Mr. Delano Er. Miller Mr. Warburg Mr. Willis, Secretary. The Governor of the Board presented a letter from Counsel in regard to the point raised by Deputy Federal Reserve Agent McCaleb with reference to rediscounting methods in the Dallas district. On motion the Governor was author- ized to send Mr. McCaleb a letter in accordance with the opinion of Counsel. Mr. Miller called attention to the fact that it was imperative to deal with certain significant matters now pending, prominent among which, he thought, was the question of the circular relating to the admission of State banks. Mr. Delano informed the Board that he had received .from President J. B. Forgan of the Advisory Council, a letter containing suggestions as to the proposed circular, and transmitting a more lengthy dcommunication from Governor George J. Seay of 'Richmond, on the same subject. By direction of the Governor the Secretary read to the Board the communication in question. 492 General discussion ensued, and by agreement the Governor named Messrs. Miller, Delano and Harding as a special 'committee on the State bank circular, to revise and present to the Board such alterations in the plan as might be found necessary. The Secretary of the Board presented telegrams to the Federal Reserve Bank of Minneapolis calling for an adequate deposit of gold in the Gold Settlement Fund. On motion these telegrams were approved. On motion it was voted to approve applications for new stock totaling 880 shares, as follows: Shares. DISTRICT No. 5. Citizens National Bank Fourth National Bank Athens, Tenn. Fayetteville, N. C. 30 60 DISTRICT No. 6. National City Bank Mobile, Ala. 600 Sesser, Ill. 20 Pepin, Wis. Hobson, Mont. 16 . -19 Hayden, Colo. 15 DISTRICT No. 8. First National Bank DISTRICT No. 9. First National Bank First National Bank DISTRICT No. 10. First National Bank 423 ADDITIONAL STOCK. DISTRICT No. 1. Berlin National Bank Blue Hill National Bank First National Bank Shares. Berlin, N. H. Llilton, Mass. Webster, lass. 3 15 4 DISTRICT No. 4. First National Bank First National Bank First National Bank Salyersville National Bank New Wilmington, Pa. Senacaville, Ohio. Roseville, Ohio Salyersville, Ky. 3 1 1 2 Tazwell, Tenn. 3 DISTRICT No. 6. Claiborne National Bank DISTRICT No. 7. First National Bank First National Bank Security National Bank First National Bank First National Bank Watervliet, Mich. Marcus, Iowa Cherokee, Iowa Terrill, Iowa Clay City, Ind. DISTRICT No. 8. Security National Bank First National Bank . Jackson, Tenn. Greenville, Ky. 1 2 Groton, S. D. Townsend, Mont. Manitowoc, Wis. Marmarth, N. D. Egeland, N. D. Sioax Falls, S. D. White Lake, S. D. 1 1 3 2 6 1 DISTRICT No. 9. First National Bank First National Bank National Bank of First National Bank ' First National Bank Security National Bank First National Bank • 424 Shares. DISTRIOT No. 9 (Cont'd.) Farmers National Bank First National Bank First National Bank First National Bank First National Bank Blue Earth, Lann. Mountain Lake, Minn. Mabel, Minn. Jackson, Minn. Cottonwood, Minn. 3 1 1 3 2 Nowata, Okla. Blue Jacket, Okla. Tyrone, Okla. 2 2 1 DISTRICT No. 10. Commercial National Bank First National Bank First National Bank DISTRICT No. 11. First National Bank San Saba National Bank First National Bank Merchants national Bank First National .Bank Magdelena,.N. M. San Saba, Texas. Pharr, Texas. Brownsville, Tex. Allen, Okla. 1 3 1 15 6 On motion it was voted to approve applications for the surrender of stock totaling 360 shares, as follows: Shares• DISTRICT No. 1. Bristol County National Bank Taunton, Mass. 8 DISTRICT No. 4. First National Bank of Latonia Covington, Ky. 1 DISTRICT No. 5. Citizens National Bank The National Howard Bank Morgantown, W. Va. Baltimore, Md. 7 210 DISTRICT No. 7. Merchants National Bank First National Bank Muncie, Ind. New Sharon, Iowa 15 5 425 DISTRICT No. 7. (Cont'd) First National Bank First National Bank Shares, Noblesville, Ind. Oregon, Ill. . 24 3 DISTRICT No. 10. Logan County National Bank Farmers National Bank Citizens National Bank Sterling, Colo. Pawnee City, Nebr. Gothenburg, Nebr. 6 45 36 On motion at 1.30 p. m. the Board adjourned to meet at 4.00 p. in. this day. Secretary. APPROVED: Chairman. (Note: The adjourned meeting to have been held at four o'clock did not take place owing to the absence of all members of the Board.)
@FedFRASER