Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, October 30, 1914, 3:00 PM, Volume 1

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294

At a regular meeting of the Federal

eserve

Board held in the office of the Board at 3:00 p. m.,
Friday, October 30, 1914.
1311353172:
1:r. Delano
7i1liams

Er. Harding
Liller.

The Vice Governor of the Board presided and :.r.
H. P. Willis acted as secretary to the meeting.
An informal discussion of the cuestion of salaries
of Federal

eserve Bank directors resulted in laying the

question on the table for the present.

The consensus of

opinion was, however, favorable to the pv..:ent of a moderate
fee for actual attendance upon meetings with no fee to salaried
Officials who may be at the same time directors.
On motion it was voted to refer to the 3omptroller
the establishment of a preliminary draft of a schedule of
salaries for national bank examiners.
A memorandum prepared by Jounsel to the Board relating to the steps next to be taken in the establishment of
reserve banks was taken up and discussed.
The Secretary of the Board was instructed to communicate with the banks of Birmingham, Alabama, regarding the







9ue3tion of Making that place a reserve city as they had
previously requested..
On motion at 5:00 p. m. the Board adjourned to
meet at 10:30 a. m. on Saturday.