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205 At an adjourned meeting of the Thderal Reserve Board held in the office of the Board at 4 p. m.t Tuesday, October 6, 1914 PR3SLITT: Mr. Williams :,:cAdoo 1:r. Hamlin Warburg Mr. Delano 1.:r. Harding la-. Taller. The secretary of the Treasury presided and H. 2. Willis acted as Jecretary to the meeting. The minutes of the r)receding meeting were read and approved with amendments. 1:r. Harding reported tfle results of his examination of the accounting system contained in Appendix 2 of t::_e Report of the preliminary Jommittee on Organization, and undertook to file a written rel)ort in g:eater detail. On motion the Jecretary of the Board was authorized to secure photographic reproductions of the forms beloncing to th2. accounting system contained in Appendix 2, and to send a set of such reproductions to each Federal Reserve anti Discussion of Mass "O" directors for the Federal 20o Reserve Bank of Cleveland ensued, and on motion the whole subject was reopened for consideration, the vote in favor of such reconsideration standing 4 to 3. Final decision regarding the aopointments was deferred. LI.. Delano reported to the Board the results of further inquiries regarding Class "V directors for the Federal Reserve Bank of Chicago, and the Jecretary of the Treasury laid before the Board various correspondence and dispatches dealing with the same subject. After discussion it was voted, on motion duly made and seconded, to elect 7alter F. LcLallen, of Columbia City, Indiana, Deputy Federal Reserve Agent and ViceChairman of the Board of Directors of the Federal Reserve Bank of Chicago. The Secretary to the Bard was instructed to invite the Chicago directors to confer with the Board on the morning of Friday, ,Dctober 9, 1914. After discussion of appointments for Class "O" directorships in the Federal Reserve Bank at Kansas City, on ::otion duly made and seconded, hr. J. Z. Miller of Kansas City, was elected Federal Reserve Agent and Chairman of the Board of Directors of the .Federal Reserve Bank of Kansas City. La.. A. E. Ramsey of Muskogee, Oklahoma, 207 iLs elected Deputy Federal Reserve Agent, and ViceChairman and la-. R. H. Malone of Denver, Colorado, was elected third director. On motion the salary of the Federal Reserve Agent at Kansas City was fixed at ,17,500. The Secretary of the Board was instructed to invite the Class "0" directors of the Federal Reserve Bank of Kansas City to confer with the Board on the morning of Saturday, October 10, 1914. The Secretary of the Treasury laid before the Board dispatches regarding the plan proposed by 2estus J. Wade of St. Louis, for the establishIlent of a cotton fund of %;150,000,000. On motion a committee, consisting of Mr. Hamlin, Warburg and Mr. Harding, was named to consider the plan with :r. Festus J. Wade, in person, Mr. Wade to be invited to coe to Washington for that purpose. On motion the Board voted to adopt the following as the regu ar order of business: Reading of Minutes Report of Committees Unfinished business Mew business Adjournment. On motion, at 5:30 p. is., the meeting adjourned. APPROVED: Jecretary. Chairman.
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