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- of the Federal ; alar meetin:, eerve 1- oard ld in the office o.f the C'rovernor at three ) on day, :Tovetaber :.,:r. reiin, r.ailliL b- ...curetary. Delan •.;overnor rL.rd1nz made a brief statelnent of a conyersat had had ..rith a reprecentative of the New 'Lor1.1 ;ta tiOh the intermediation or appointrftent o, -rnor of the 2edera1 eerve Bank of Lew The minatee of the rfteetin Iovcmber 2 were read and, on , The minates of the of the Board held on vion, arproved. f the lective mittee held on royember 3 and 5, were pr - --nted and • on motion, :.,pproved and the action therein set forth ratified. :love nor 1rdin presented and read a proposed pr 7rame for the rneetinc, of the Board to be held Ath the r;overiors on liovelber C, anti an outline of suestions for the 1). r -etinz of the 4clviarT oil to )e held on Dpvcaber 'Iodi,...ications were st.1Tested and Incorporated. Governor Harding stated that Federal deserve igent Hardy in a visit of this day, had brought to his attention certain differences of view with respect to reserve reiairements. Mr. Hardy had told the banks in his district that any deposit upon which they might claim time for payment Was a time deposit under the law. He had informed Ur. Hardy that this in- terpretation was erroneoas. If a deposit was subject to check, it was a regalar demand deposit, even thoagh tiAe could be demanded for its payment, and mast be so credited in figaring reThe Jommittee concurred in this view. serves. A letter from Ir. J. P. Jackson, President of the £1c- bala Bankers jcsociation,as to the danger of runs on bunks, was read and noted. - letter from ';'ederal deserve 4i,;ent ;ellborn stating that the ne::It meeting of directors of the Atlanta Bank would be held on :Tovember 24 and December 1'0, and inviting the Board to send a representative, was called to the attention of the • ommittee, but no action taken. On motion, at 4.14 p.m. the Jonnittee adjourned. Jhuirman.
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