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A meeting of the
Board of Governors of the Federal Reserve
System was held
in Washington on Saturday, October 16, 1937, at 11:00
a. m.
PRESENT:
Mr. Eccles, Chairman
Mr. Szymczak
Mr. Davis
Mr. Morrill, Secretary
Mr. Bethea, Assistant Secretary
Mr. Clayton, Assistant to the Chairman
Consideration irdes given to a lett
er to Mr. Welsh, Chairman
of the Federal
Reserve Bank of Dallas, reading as follows:
"This refers to your
letters of September 25 and September 27, 1937
inclosing copies of the minutes of the
regular meetings of
the Board of Directors of the San Antonio Branch and
the Houston Branch.
"It appears from these minutes that
at a meeting of
the Board of
Directors of the San Antonio Branch held on
September 21, 1937 and
at a meeting of the Board of Directors of the
Houston Branch held on the same date, Section
1 of
article VI of the by-laws
of each Branch was amended
to read as
follows:
'ARTICLE VI
'Section 1. Business Hour
s
'The Branch shall be open
for business from 9:00
A.N. to 3:00 P.M.
, on each day, except Saturdays and
Sundays, or days, or part
s of days, established as
legal holidays in
the State of Texas. On Saturdays
the Branch
shall open at 9:00 A.M. and close at 1:00
P.M.'
"The sole effect of these amen
dments is to change the
closing hour of
each Branch from 2:00 P.M. to 3:00 P.M. on
each day,
Of days, except Saturdays and Sundays, or days, or parts
established as legal holidays in the State of
Texas. It is
assumed that these amendments to the by-laws
of the Bran
ches were adopted subject to the approval of
the
he Board of
Govern
rnors. Accordingly, you are advised that
he Board
approves the amendments set forth above.
"It will be appr
eciated if, in the future, matters
,
1400
10/16/37
"requiring action by the Board are mad
e the subject of a
separate communication."
Approved unanimously.
Thereupon the meeting adjourned.
i"{
)
Secreta .
Approved:
Chairman.
@FedFRASER