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• At a meetirE of the Federal 24eserve Board,.11014- 111 the office of the Governor at 11100 A. M. Thursday, September 14, 1916, arbur, Govec:i: Fording, presidi 1..1r. Miller, Mr. Mr. Allen, becretar stated tit hr. Joy had .;arburg. . - requested that the data aud notations presented by nim in ccmTiection with Clayton .Act applications be recorded as confidential. . Mr. hiller for the Committee en staff, reported that an 'extra steuorz=2Ther had been assigned by the PecreUrul s office to Counsel's office and recommended that the request for an adJitional 7.vermanent anointment await the retnrn of :11-. Lolaro, illairman of the Comnittee. lettr froll the Fed:3ral Reserve Agent at ainneapolis recLuosting a(:Troval Of a rate of 4:) on fifteen cl.P.,y raper was preseted and the rate was a -oroved by. tiAe Board. 966 Consideration was given to a proposed statement for the press in connection with the ?( work on the Clayton Act applications, during the discussion of which Mr. .illiams asked to have it recorded that his understanding o.k* t_ .ords "standard collateral" (contained in the resolution adopted by the Board setting forth the principles to be followed in acting upon applicaticns) would be construed to mean bonds, stocks, and such securities, and that he would not have voted for the resolution had he understood any other construction would be placed upon these words. Mr. Miller stated that he agreed with this construction. Applications under the Kern amendment to the Clayton Act, which were approved at the last meetinc subject to re-opening for discussion by any member voting in the affirmative, were taken up for discussion. Mr. Miller made a motion that the 1 X, 4NC,A : ) - ‘) following aprlications be reconsidered by the Board: J. Chapman, Baltimore, National 73ank of Commerce, Continental Trust Company, Park Bank, Baltimore, Baltimore, Baltimore, C• Alcmicion, Baltimore, Thor ntonRollins, Baltimore, National Bank of Commorce, Continental Trust Company, Baltimore, Baltimore. taWrason ?it Baltimor, liams B. Hurst,Baltimore, b Epstein, °rCe Cater, Merchants-Mechanics Nat. Bk., Baltimore, Mercantile Trust and DeBaltimore, posit Company, Citizens' National Bank, Mercantile Trust and Deposit Company, Baltimore, Baltimore, National xchange Bank, Continental Trust Company, Baltimore, Baltimor2, Baltimore, National Lmchange Bank, Continental Trust Company, Baitimore, Bait imoro, Baltimore, This motion was unanimously carried. Mr. Miller made a motion that the applications listed next above be refused. This motion vas unanimously carried. Mr. Miller made a motion thlt the applications from San Francisco and California wnich were approved in yesterday's meeting subject to re-oreni2 ,' be reconsidered. This motion • was lost, M. Williams and Mr. Miller voting "Yes" and. Mr. -Warburg and Governor Harding voting "No" Secretary. JLPPROVED:
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