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A meeting of the Federal Reserve Board was held in the office Of the Board on Thursday, November 10, 1921, at 11:05 a.m. PBS.!1T7P : Governor Harding Mr. Platt Mr. Hamlin Mr. Miller Mr. Cris singer Mr. Hoxton, Secretary. Minutes of the meeting of the Board held November 9th were read 41.4:1 On motion approved. The Governor reported the reserve posit ions of the several Federal reserve banks as at close of business November 8th, and the status Of rediscounts between the Federal reserve banks as of the same date. The Governor reported redis co unt transactions, menber bank pro- 411138°rY notes secured. by Governmsnt obliEe.tions, rate Bank rediscounting Dallas as fbllows: With Amount Maturit i es Boston 1,000,000 11-15 days Letter dated November 7th, from the Assistant Secretary of State, allsmitting despatch dated Uctober 7, 1921, from the American Cormission111. Vienna, relative to a law permitting the reincorporation of certain 'Ist rlan • banks in irance and England. Noted, the above papers being taken by Mr. Miller for his examination. Letter dated NoVember 9th, from the Director of the Division of 444.1 Yste 8.: Research, with reference to securing certain information in j 40.1 Referred to Governor Harding, with the understarcling that in securing the services rerpired, the Division of Analysis (Pc Research will not exceed the appropriation of $1,000 made for si.th services in Rome. 11 Letter dated November 9th, from the Director of the Division of Analysis & Research, requesting the Board's approval of the appointment of an additional --qpioye, said appointment to be for a period of six months, with salary of :`-150.00 per month during that period. Appro yen. Letter dated November 1st, addressed to the Secretary of the Treas11‘rY, signed by the United States Treasurer, setting forth the proposed l'egulations for the cancellation and destruction of redeemed paper curreneY, said letter requiring the approval of the Federal Reserve Board, and ben,. ng the previous wproval of the comptroller of the Currency, given on the Ilnderstanding that the plan will be given a trial and that if it does 11°t Prove satisfactory and materially retard-s the work, it will be discontintied and the present system of cancellation and destruction will be Q*111.1 put into force. Approved. Letter dated. November 9th, from the Chairman of the Federal Reserve 1341k of New York, with reference to certain opinions expressed in Ni York 14°11• the occasion of the last adjustment of discount rates by the Federal l'eserve banks. Noted. Draft of letter dated November 10th, prepared by Governor Harding itctdressed to Mr. Harrison, Secretary of the Governors Conference, setti tz, forth the comments of the Federal Reserve Board Ton certain action - by the recent Conference of Governors, as set forth in the minutes Of that Conference. Appro.,- ed. Draft of letter dated November 10th, prepared by Governor Harding alici addressed to the Governors of all Fedenal reserve banks, with copies t° Federal Reserve Agents, e)coressing the qoproval of the Beard as to certain propositions agreed upon by the recent Conference of Governors. Approved. Draft of letter prepared by Governor Harding and addressed to all 1"ernors and Federal Reserve Agents, setting forth the program for group 4rld• other conferences which has been adopted by the Federal Reserve Board t(* th,. calendar year 1922. Approved Draft of letter dated November 9th, addressed by Governor Harding to tht Under Secretary of the Treasury, approving the application of the ?ecleral Reserve Bank of New York that the Buffalo Branch of that Bank be 11*1111 tted to exercis e full Sub -Treasury functions. Approved. to Draft of letter dated November 10th, addressed by Governor Harding 'ne Under Secretary of the Treasury, approving the application of the Pod. '311Q Res-:rve Bank of Chicago that the Detroit Branch of that Bank be ed to exercise full Sub-Treasury functions. Approved. Letter dated November 9th. addressed by Governor Harding to Mr. /31a1ne S. Smith, General Sales Manager of the Universal Portland Cement C°1111ualy of Chicago, with regard to the Board's statement of price moveV. Appro ved. Telegram dated November 9th, from the Federal Reserve Agent at Ch icago, requesting authority to appoint Mr. Carl Wisner as a Federal 48-erve Bank Exaniner, at a salary not to exceed .S4500 per annum. Approv ed. Upon motion, the following official bonds of Federal Reserve Agents IA Assistant Federal Reserve Agents were approved by the Board: $100,000 Dallas Mr. William F. Ramsey 50.,000 Dallas Mr. Charles C. Hall 100,000 Boston Mr. Frederick H.Curtiss (to bonds, one at $75,000 and one at 25,O00.) 100,000 Chicago Mr. William A. Heath 50,000 Chicago Mr. Walter F. McLallen till3oRm OF COMMITTEE NO. 1: 1)ated November 10th, Recorarending changes in stock at Federal reserve banks, as set forth in the auxiliary minute book as of this date. Approved. At 12 o'clock the meeting adjourned. Secretary.
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