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mettinj; of the L;.ecttive Jommittee of the leaeral Zeserve 1.:oard held in the office of the lovernor O. ?riday, :ovember at 10.30, LM., r. Hardins., ,:arb1lr3, .illiz, ,,ecretarzr. Delano, Present also, Joansel of the Lord. :'. J. .A.liott, lovernor HardinL; presented basiness, ard action was t._,ken thereon as follcms: letter from loverror .;clay with reference to the new tax at the rate of to cents per -,;100 on credit instrar:entz, and in airinz as to an exemption :or notes secired by T,ibert:,Bonds was read and it dal: informally a2reed to sec what coaid be done as to an a-aend:ftent to the law. 4, letter from the Jomptroller of the ,arrency iniirin as to whether members of the bo_rd have re,laests for infornation which they woald like to have obtained at the next call, as ell as a letter from the Lecretar:r of the "reasary trans- Ilitting a letter from a. Thomas 3. Lpencer of the Travelers -ife Insarance Jompan7, Lt, to his experience with the second ,iberty Loan, %ere read. It was informally a:reed to ask the 51 J;omotroller to inaire of the national banks 'hether any loansa.:e being made by them for the p'Irnose of v:ithholdins cotton, wheat and other food prod:lets fro!r, mrket, also the amont of ':roverwrnent bonds and obligations carried for their own accoAnts, and the a!:loant loaned to sabsCribers wi Governent oLlitioi i collatcral. It waS Llso voteci in this connection to doket at the meeting of the :.oard this day the q,aestion of withdrawing the :oard's corl-Aodity - letter fron 1)ei.ty a letter fr-)m :r. ;h%s. overnor 'The:7%n tr,nsnittin . 'Tiffany statiln:7 that thetain of a 61anish vessel hA. obtained. -.:;15,00C) in :Told, was read, and it was a7eed to refer the nLtter to the Lecitive „. ...:o=ittee sitting* the '.3old rort J.crInittee, letter from ?ederal Iteserve *ent Wellborn transmitting certa n compl:,ints concernin Zavannah made by the 'jhelby ech..in:ge charges at jornixAny, was referred back to -Ammittee :7o. I with the sxestion tht the matter be dealt with. n t letter from evi Orleans. Delno tr%ns7-littin report of comnittee of treas:tr7 officers with reference to ;,:old 1.,u. nent3 by the Treasqry, was ordered docketed for the ford's ncetin this afternoon. , letter from -ssistant ,e3ret:,ry of the TreaLary Crosby 413 to certificate!, of indebtednecs for lar,jc tz rayers 'aas laid on the table. letter. from Parshall zis to apnoint-tent on was r(ad and notcd. d of the .Tittsol.rjh the .10a 'of fidz3iary rowers for rea York Lnd -AnnThe ‘aectio, coot:. 1):_n5, orJered refc:.-red to the ttorney "rencr.1 of the gnitcd .tates, was dis(rassed aith Counso nd Soansel dir(oted Cotton, the lovernor to "rite a to corliAanicate with letter to the President ackin,3 for the slbrion of tae rr-tter. nenorandam :..13 to the prerLration of a 1- ro,;.r.a-,71.e for the net meetin,s of the 2e1eral -dvisory CoahJil, referred to the lovernor by the Board, was discatsed ,_ .nd the lovernor azIsed the !ambers for sa=estionb. letter fro-I ein ec ':ii, lnc;crooll Jo., relative to for- ead and noted. 4. letter from the President transmittir; 4 letter from the ,',ttorney 7,eneral of the 'Thited .dtatc entin on z..n op- inion of the ,Atorney ,lencral of .annezota, who had Jeld thL.t State banks and trast co:ftpanies in that LAate"are rrohibited 5F6 their capital and by law frrt investino !sore than was read and notc:i, usrplLs in Liberty 330T1 1 reenleaf of Lawrence, r. J. i.;.., letter from Kansas, addressed to the 2ecre L of the 7rea ury, and statin3. that tire deposits now carried in natiOnal bans interest cozld be 'turned into new cha nels if the' ?ederal deserve Lanks would c t their own ViaLi read and noted. letter federal deserve the payment of sold certificates at the eat to ub „ was ry „Lathori- read and it was agreed to consul ties on the subject. letter from the .;omptr 1 transmittin,a letter nrA th of the 2.urr icy per cadent of Banks. of (YAio as to advice ziven by national banks to state bankers aaiist joini the 2ed ral reserve syst - read and it was afreed to siest to the Jomptro ler to take no action at the present. letter from ir. d. S. Black transmitted by . ?rank £s Vanderlip as to the nttcr of deposit ng lovcrnment bonds with banks, and docuients prepared by sel of the Board relat to the S4 R, were presented and " rrs r 11...„..! • considered. Governor HardinL' rerorted the result of an inforal conference held on Lovember 1 with Detroit lx„nkers relative . branch in Detroit. , to the establislrftent ofI On motion, VL.D: t 11.30 a.m. the Jommittt.e adjoa Led.
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