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A meeting of the Federal Reserve Board was held in the office of the Federal Reserve Board on Thursday, May 31st, at 11:00 a.m. PRESENT: Governor Crissinger Yr. ?latt Mr. Hamlin Mr. Miller Yr. James Yr. Hoxton, secretary The minutes of the meeting of the Federal Reserve Board held on May • 29th were read and on Motion approved as amended. Letter dated May 17th, from the Federal Reserve Bank of Boston, enclos1143 copy of a memorandum report of the conclusions reached by a Committee Of of that bank regarding the care and disposition of records. Referred to the Law Committee. Letter dated May 27th, from the Federal Reserve Agent at Kansas City advistng of the resignation of rr• J. Jones, Auditor and Acting Assistant hderal Reserve Agent at the Omaha Branch, and advising that he had appointed T. G. Sanders as Assistant Auditor and Assistant Federal Reserve Agent at the Omaha Branch. Approved. The Governor submitted to the Board certain correspondence had with the Bank of Budapest, Hnngary, in the matter of a request from the Hungarian bank for specimens of the several denominations of notes issued by the twe?ve Paderal Reserve banks. Referred to Mr. Miller with power. romination of Class "0" Directors Matter referred to the Committee on at recommendation of the Federal Reserve the meeting of May .29th, namely, the -2- 5/31/23 ly Bank of Kansas City that the Board appoint Mr. C. A. Burkhardt, former place of Honorable Alva B. Umaaging Director of the Denver Branch, in the Adams, resigned. t Yr. After a discussion of the proposal to appoin Miller Mr. , branch Denver the of Burkhardt a director case to moved that the Board make no exception in this whereby 1923, 23, March on Board the by d the motion adopte Federal it was vote4 that all directors appointed by the ors of Branches Reserve Board to serve on the Boards of Direct le, be of Federal Reserve banks shall, in so far as possib or rial men who are representative of agricultural, indust commercial interests. Carried, Mr. Platt voting "no". meeting of May 23rd, Referring to the action of the Board taken at its the Vice Governor submitted a letter dated May 28th, from Mr. J. H. Case, of New York enclosing a set-up DeVAY Governor of the Federal Reserve Bank )a practical method designed to secure for the Federal Reserve System the °I illformation regarding foreign movements of ?ederal Reserve notes. Upon motion, the Secretary was instructed to trans and s letter ar circul the Agents e Reserv l mit to all Federa forms suggested by Mr. Case. the Federal Reserve The Governor submitted the reports of cxamination of allk of Minneapolis of as of March 24, 1923 and of the Federal Reserve Bank Ransas City as of April 7, 1923. Ordered circulated. . 17ith respect to the Kansas City report, the Secrener to come. tary was instructed to request the Chief 7,xami for the purbefore the Board at the earliest opportunity disposition the to as ation inform r furthe pose of giving arisby the Aideral Reserve Bank of Kansas City of funds in the ing from protest fees to Which attention was called report of examination. -3- 5/31/23 Upon motion, it was voted that Yr. Platt, and Mr. James be appointed a Committee to inquire into the natter of receipts issued by Federal Warehouses, with a view to having the Federal Reserve System cooperate in this matter, If practicable, with the Farm Loan Board and the Department of Agriculture. At 1:15 p.m. a recess was taken to meet again at 2:30 o'clock torncrrow afternoon. RIPORTS OF COYMITT-2,7, NO. 1: Dated May 29th, Recommending changes in stock at Federal Reserve banks, as set forth in the Auxiliary Minute Book of this date. Approved. Secretary. APProved:
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