The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
30? At a regular meeting of the Federal Reserve Board held in the office of the Board on 7ednesday, vember 4, at 11;00 a. m. PRESENT: Mr. Hamlin Mr. Warburg Mr. Delano Harding Er. lilliams LIz. Miller. The Governor of the Board presided and Mr. H. P. 7illis acted as secretary of the meeting. The minutes of the preceding meeting were read and approved. The Governor submitted to the Board an opinion of Counsel regarding conditions under which state banks and trust companies may become members of the reserve system. On notion the report was referred to the committee of t..e Board on the admission of State banks. A communication from Mr. J. B. Forgan was referred to Lr. Harding; one from Mr. Jeay to Er. 7arburg, and one from Mr. Strong to Mr. Warburg. A communication from the First Hational Bank of de Leon, Texas, received from the Comptroller of the Currency, was referred back to the Comptroller. On motion the application of Charleston to be made a reserve city was referred to a subcommittee consisting of Harding, 1:r. Miller and Counsel to the Board for report. On motion it was voted to prepare all circulars henceforaard to be sent out in a standard form, and further that when such circulars are sent to reserve banks they shall be mailed to the Federal Reserve Agent in each case. The question of arranging details was re- ferred to a sub-committee consisting of 1:r. Delano and the Secretary to the Board. A circular relating to stock subscriptions by banks Was submitted by the Counsel and ordered made priv- ileged business for the following day. A letter from Governor Strong asking for copies of briefs in districting appeals affecting the Federal Reserve Bank of New York, was directed to be answered with enclosure of documentsrequested. A communication from Governor Aiken inquiring regarding the use of uniform drafts by member banks, was ordered answered with the statement that the subject was under consideration. On motion at 1:00 p. m. the Board adjourned. Secretary. APPROVED:
@FedFRASER