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1247 A, meeting of the Board of Governors of the Federal Reserve SYsten was held in Washington on Wednesday, October 11, 1939, at 11:00 a.m. PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice Chairman McKee Davis Draper Mr. Morrill, Secretary Mr. Bethea, Assistant Secretary Mr. Clayton, Assistant to the Chairman The action stated with respect to each of the matters hereinafter referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Federal Reserve System held on October 10, 1939, were approved unanimously. The minutes of the meeting of the Board of Governors of the Federal Reserve System with the Federal Advisory Council held on October 10, 1939, were approved unanimously. Letter to the board of directors of "The Croton Bank Company", Croton, Ohio, stating that, subject to conditions of membership numbered 1 to 3 contained in the Board's Regulation H and the following Special condition, the Board approves the bank's application for membership in the Federal Reserve System and for the appropriate amount of stock in the Federal Reserve Bank of Cleveland: "4. Such bank shall make adequate provision for depreciation in its banking house and furniture and fixtures." Approved unanimously for transmission through the Federal Reserve Bank of Cleveland. 1248 10/11/39 0 11 Thereupon the meeting adjourned.
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