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208 At a re7alar meeting of the Yederal Reserve Board - eld in the office o2 the Board at 11:00 a. m., :ednesday October 7, 191,1 PRESENT: • Er. Hamlin :a% Warburg ')elano Hr. Hardinc Er. =or. The Governor of the Board 1)resided ahd Mr. H. P. Willis acted as secretary to the meetinc. The minutes of the precedinc merytinc were read and approved. The Secretary of the Board was instructed to ascertain what could be done with respect to secarin,:; an ante-room for use in connection with the Board room. Er. :;arbarL; was requested to consult with some of the Governors of 2edera1 aeserve Bans relative to the question whether the title "cashier" or that of "secretary" should be used in desinatinc the appropriate officer of Federal eserve Banks. After discussion it was the sense of the Board that national banks should be permitted to join the Federal aeserve s:stem if they so desired even if they had hereto- 3 209 :pre indicated a disinclination to join. The Board considered the question whether certain classes of savings institutions are to be ranked as banks under the terms of the law in determining the qualifications of directors. The jecretary of the Board was directed to communicate with certain institutions in Order to determine their exact character. The Governor laid before the Board a cornunication from 7,:r. Frederic H. Curti s, Federal oserve Acent at Boston, recording the status of af:airs of the Federal aeserve Bank of Boston. In answer to an innuiry from :r. Curtiss as to the qualifications required of members of the 2.dvisory Council the Board,after informal discussion,referred the matter to Mr. Delano and lir. Warburc as a committee to formulate a statement on this subject for use in reply to this question in the future. After general discussion of Class "C" directorships the Board adjourned to meet at 3:00 p. m. APPR.07,TED: Chairman.
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