The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
..*t z...1 regular meetinLs of the federal ...Zeserve 5oard Ield in the, office Of the 7,overnor on Tues6ay, 0,.:tober at 11 Er. 7.1ardin, ..1111:„.ras, sar, r. Delano, ':r. The minutes of the r".eetin illfr, hecre-tary. of the 3o-rd held on Oct- ober 5 were read and on motion approved. "he rlinatcs of the -leesins of the Executive „!.o-rritLic held on october :,ere read and on motion rrroved. The minutes of the meetin;s of the 1..;.x.'.Jutive ;omittee held on October 5, 6, and 6, were pre:-entes and, on -,.otion approved, and the action therein Let forth ratified. z,fter discussion, it '-Aotion, voted that dar- ing the cw:lin-7 aata-m and wintcr statec, r-ectin,:s of tAe 3oani occur but that if an t d r.. on of these ,cdnesdays and .'ridays, fails on a holida:7, the meet- ing should be defe...re€1 until the folloJin Informal discussion of the salaries of the staff ensued, but no action -,•,'as taken. letter from the 7ederil hcscrvc 7Sai...c. of ord's a0 reference to the acceptance of State bank eNa-ai,ations, was read and noted. ,--.. resolution of the Board of directors of the Federal Aeserve Bank of ;leveland author1zin7 the establishment of d branch in the City of Oincinnati was read on notion, the action so taken was approved, and annolncerftent ordered. letter frn kder%._ leserve i!zent Perrin tn,nsmittinL; ch.n7e. in the F„:.2.nk of Tnn rancisco, of the Fedeml iZel'erve for a change in the time of st%ted meetins of the bord of 1irc-7!to.rs.:wasread . and, on. r..:0t102:, approved. - letter from Federal Reserve .1..ent Perrin with reference to rate- on bankers and trade acceptances In force at the Federal Reserve Bunk of Francisco, and a proposci reply to the SUMO, was read and the reply approved and ordered transmitted by the Governor of the Board. letter from. Governor i?,hoaJ. vj,th"reference to the adjustment of reserve 12trJentaes ,so the porentae of reserve to ej_iLe behind deloolts and note, was red and, on motion, referred to -- e fonItte on 4( tIi Operation of the 7hiludelphia Bank for a reply. On motion, it Board be named Lctin W45 voted that the Secretary of the gr Fiscal Lent and be authorized to checks in the absence of the Fiscal lent clari,the month of October. .;overnor Hardins informally cuL,.sested to the Board that data be obtainea with reference to the situL.tior eL7.1zrd- ing the collection of maturing notes and bills. ChailGe- in stock at Federal reserve banks, daly recommended by the aommittee on Membership, were, on motion, approved as follows: District To. 1. econd National Bank The minutes of a1den, 4 ass. Shares 75. meotins of the..;ommittee on Jlayton Lot held October 0, were read and, on motion, approved and the action therein set forth ratified. Upon recommendation of the various Joramittee on O'f- oration of Federal Reserve Banks, action withreference to directors whose terms of office expire on December was voted as follows! 1;aunders, New York, to be reelected. stin, PAiladelphia, not to be reelected. well Hardy Aichmond, to be reelected and redesis sawyer, 3'7.an Lie city, no reelected. not to be reelected, but to lien, be redesignated iLssistant ?ederal Reserve Isent. 2. 2amsey, Dallas to be reelected and rede isnated. John Perrin,San Francisco, to be reelected and redesignated. Id. B. ae lborn, t1anta, to be reelected and redesig- nated. The Secretary of the Board was instru.ctcJ. not t send out any fa :Lai notification of these'actions fo present. onrtenda 4 pi ion of the 1 01 of the Corittee on :.:embership, fayctte 10 th-ide Bank of Lo' is, was approved. upon conditions named by the Committee. ernor larding read 4 draft of a letter addressed to tlib President with reference to Increin the ember- ship of State banks, which was informally approved. presented a letter from Aderal ieserve _ent Perrin with reference to the reportsof meoer State banks in the Twelfth District, rhien s refei red to the 411 Committee on Audit' nd I.14xamin tion. . Miller presented a letter from Director Mills of Portland with reference to the probableexpenses of the Portland Branch, which was read and noted. On motion, at 1 p.m. the Board r,cljourned,- to meet on Friday, October 1L', at 3 p.m. Secretary.Aftaileft,... Chairman.
@FedFRASER