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A reetine; of the Federal Reserve Board was held in the office °t the Board on Thursday, October 20, 1921, at 11:15 a.m. PRESENT: Mr. Mr. Mr. Mr. Mr. Millar, presiding Hamlin Mitchell Cris singer Hoxton, Secretary. Minutes of the meeting of the Board held October 18th were read. ata on motion approved. The Presiding Officer reported the reserve positions of the sev- eta) . Pederal reserve banks as at close of business October 17th, and the status of rediscounts between the Federal reserve banks as of the 8ezne date. Memorandum dated October 18th, from Mr. Imlay, submitting, with recoramendation, application, dated. October 15th, from the Comptroller r the Currency, requesting the Board's approval of a reduction in capital Otthe Astoria National Bank, Astoria, Oregon, from ek400,000 to :13200,000. Appxo ved. Letter dated October 17th, from the Chairman of the Federal ReBetv Bank of Atlanta, submitting changes in pay-roll at that Bank and It 131lanches. Noted. Letter dated October 19th, from the Deputy Governor of the Fedea Reserve Bank of New York, giving information resulting from inquiries 44 to the causes of the recent rise in sterling exchange. Noted. -2- Letter dated October 12th, from the Governor of the Federal Reserve ealk of Minneapolis, requesting approval of the action of the Board of Directors of tha Bank in Increasing the salary of Deputy Governor Geery from ?, 12,000 to 4139000 Per annum, effective July 1, 1921. Approved. Memorandum dated October 19th, from the Assistant Counsel, submitting, e recorrinndation of Mr•Hemlin, a form of uniform bond for Federal Reserve ligette and Assistant Federal Reserve Agents, with a modification of the last , Oils 'merit, by which a notation is made by the Secretary that the bonds have beta to rtrally approved at a meeting of the Federal Reserve Board. Approved. Ilrs Mitchell made to the Board a report covering his recent visit to Chicago 1121eaPo1is, said report reflecting an improvement in both of the Plederal Pe Itte Districts named. UPon motion of Mr. Hamlin, it was voted that the Board hold a special g tomorrow rrx)rning, for the purpose of considering certain material which 14111, -'vr stated mould be presented to the meeting by Governor Harding. Letter dated October 19th, from the Comptroller of the Currency, request°Iral of a salary of :114,000 per annum to be paid to Mr. Roy A. Cooper, sink 3xarniner in the Tenth Federal Reserve District. Approved. -3- OF COTTITTIdIE NO. 1: Dated October 18th, Recommending changes in stock at Federal Reserve Banks as set forth in the auxiliary minute book as of this date. Approved. Dated October Recommending action on applications for fiduciary 15th, 11 t, 19th, powers, as set forth in the auxiliary minute book as of this date. Approved.. At 12:30 p.m. the meeting adjourned. Secretary. Approved.: Presiding Officer. 4
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