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A meeting of the Federal Reserve Board was held in the office of the Federal Reserve Board, Thursday, November 9th, 1922, at 11:00 a.m. PRES-NT: Vice Governor Platt Mr. Hamlin Mr. Mitchell Yr. Crissinger Yr. Hoxtan, Secretary. Minutes of the meeting of the Federal Reserve Board held on November eth, were read and on motion approved. The Vice Governor reported the reserve positions of the several Fedel'al Reserve banks as at close of business November 6th. Letter dated November 6th, from the Bank of Central and South America Of New York, requesting that the Federal Reserve Board place that institution under its supervision in accordance with the terms of Section 25 of the Federal Reserve Act. Upon motion, referred to the General Counsel. The Vice Governor submitted the Report of Examination of the Fedal'a Reserve Bank of Boston as at the close of business September 9, 1922. Upon motion, the Secretary was instructed to advise the Federal Reserve Bank of Boston that the Board has received and considered the Report of Examination. Letter dated November 6th, from the Governor of the Federal Reserve Of New York, addressed to the Vice Governor of the Board, setting forth the financial needs of the American Acceptance Council, with the informathat these needs will have to be made by increasing the fee for sustaining memberships for a period of one year, from 5100 to !`,500, and incillt*ag if the Federal Reserve Board sees any Objection to the Federal Res"banks maintaining their sustaining memberships in the said Council at el" the increased fee. 11/9/22 Upon motion of Mr. Mitchell, the Vice Governor was requested to acivise Governor Strong that the Federal Reserve Board will interpose no objection if the Federal Reserve banks maintain, for a period of one year, their sustaining memberdhips in the American Acceptance Council at a cost of $530 in lieu of the '100 previously paid. Letter dated November 8th, from the Comptroller of the Currency, 4c(nrimending an increase in the salary of National Bank Examiner William E. 1114t, from 4,500 to .5,000 per annum, effective Novenber 16th. Approved. kalp. OP bqe COMMITTEE NO. 1. November 8th, t a NoveMber 3rd, Recommending changes in stock at Federal Peserve banks as set forth in the Auxiliary Minute Book of this date. Adproved. Recommending action an application for fiduciary powers, as set forth in the Auxiliary Minute Book of this date. Approved. At 12:00 o'clock the meeting adjourned. Secretary. %roved: Vice Governor.
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