Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, November 10, 1917, Volume 4, Part 2

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At a meeting of the Executive Committee of the
Federal Reserve Board held in the office of the Governor
at 10.30 A. U. on Saturday November 10, 1917.
PRESENT:
Mr. Harding,

Mr. Hamlin,

Mr. Delano,

Mr. Allen, Assistant
Secretary.

Mr. Warburg,
Present also: Mr. Strauss, Mr. Rowe, Assistant
Secretary of the Treasury.
Applications for permission to export coin,
bullion and currency and papers in connection thereWith
were presented and acted upon as follows:
552.

C. G. Conn, Los Angeles, Cal., to Graciano

Contreras, Bay of Peticalco, or Manzanillo, Mexico,
420,000 gold coin.

Referred to Mr. Hoover with request

for report.
553.

Andreas Pacheo, from Brownsville to same,

Matamoras, Mexico, $2,000 gold coin.
554.

Granted.

A. G. Fierros, Laredo, Texas, to J. Castro

& Co., Saltillo, Mexico, $40,000 gold coin.

Declined -

amount vetoed by Bank.
555.

Ambassador of Mexico Bonillas, to State

of Sonora, Mexico, from Nogales, Ariz., $100,000 monthly.




Granted for one month.
A letter from Lacaud & Son, Mexico City, Mex.,
requesting reconsideration of their application for exportation of gold to Mexico, and making inquiry re their
desire for other permits.

In connection with this ap-

plication it was agreed by the Committee that the matter
of obtaining gold in Mexico was now merely one of the
price to be paid, and that under the circumstances the
lacaud & Son Company should be able to obtain gold at
a price.

It was directed that this be called to their

attention, and that their attention also be directed to
the modified decree of the Mexican Government.
A letter from Deputy Governor Hoopes with reference to the application of b. H. Mason & Co., to export
$2,000 from Brownsville to Mexico (No. 506).
A letter from Deputy Governor Hoopes relative to
exportations under license granted Agencia Financieria
del Coveirno Mexicano, of El Paso. (No. 509).
A letter from Deputy Governor Hoopes regarding
the payment of checks at El Paso in gold.
Assistant Secretary Rowe appeared before the
Committee to explain conditions surrounding the forwArding of certain shipments of currency through Laredo Texas,




and San Francisco, Cal.
At 10:50 A. M. the meeting adjourned.
APPROVED:




A'

a

n.

Secretary.