The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
a special meeting of the Federal 2eserve Beard held in the office of the Governor on Triday, October 5, at 11.15 a.m., PHE6EN : Lr. Harding, presiding, Lr. -arbarg, lir. Delano, 1.:r. Hamlin, :a-. \inns, Secretary. The minutes of the meeting of the Board held on October 4, were read and, on motion, approved. - letter from the Guaranty Trust Jompany of le,w York accepting membership in the Federal Reserve system, was read and noted. • Governor Harding announced that a general letter would be. sent to all Federal reserve banks today again. suggesting to them that they equalize the percentage of reserves behind deposit and note liabilities. letter from Governor Seay of lichmond with ref• erence to the purchase of Government bonds by Federal reserve bailks, was read and it was informally expressed as the sense of the Board that the Board will not compel banks to buy bonds under existing conditions, the Governor' of the Board to transmit a letter to that effect. A. letter from Secretary Curtis of New York stating the view of the. directors of the Federal Reserve Bank of Mew York as to the redemption of light weight gold, was read and, on motion, referred to the Committee on Law for study and the drafting of a reply. i,fter dis,3ussion, there was re- ferred to the Committee on Law the question of the poaer of Federal aeserve Banks to issue non-interest bearing certificates of deposit to be exchanged with banks for old certifi- cates held by the latter. 41, report of the Committee on Investments with reference to the renewal of 15 day notes by Federal reserve banks, was read and approved, and the Secretary directed to print it in the next issue of the Bulletin. The 'Committee on Oteration of the Federal aeserve Bank of ;an Francisco placed in nomination for directorships at branches the following names: For Seattle Branch, Mr. Charles It. Clarke, For the ''ortland Branch, 1,"..r. Nathan D. Strauss, On motion, both nomintions were approved, and the nominees declared elected, the 3overnor to notify both, and the Secretary to telegraph Federal deserve _Agent Perrin requesting him to annoance the Board's selections as soon as 41(1g A • he hears of the acceptance of the n minces. Upon report of the Comtittee on Tras ee Powers, the following action vas taken: 7..7D EXLCUTOR, iiPPROVED: City National Bank :"..1erman ::ational Bank. cccond 1:ational 'Bank lqrst Yational Bank "Firt1Tatioral-Sank Natioaal.Bank of. Rising aan • Central rational. Stalk 7o1ston nAional Sank Metropolis, Ill. i1leheny, Pa. Red Sank, N. J. Monrovia, Ina. Carlsb, raryland. Battle 'Creek, Knoxville, 7enn. REGISTRi!-R 02S.TO0XI; :=1TD BMDS. 4,2:eAuV—J: 'National Bank Omaha, 7:cb. On motion, at 11.40 a.r,. the Board zAjoarned meet on Taesdaz.', October 9, 4PPROVED: • http://fraser.stlouisfed.org/ _ Federal Reserve Bank of St. Louis Jhairman. ,wen a.M.
@FedFRASER