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A meeting of the Federal Reserve Board was held in the office Of the Board on Thursday, September 29, 1921, at 11:45 a.m. PRESENT: Governor Harding Mr. Platt Mr. Hamlin Mr. Mi tchell Mr. Hoiton, Secretary. Minutes of the meeting of the Board held September 28th were reacl end on motion approved. The Governor reported the reserve positions of the several Fedreserve banks as at close of business September 27th, and the atatus of rediscounts between the Federal reserve banks as of the same (Late, The Governor reported rediscount transactions, member bank pro4118sory notes secured by Government obligations, ra.te 6%, as follows: SePt. 28 sePt, 28 With Bank red.iscounting Richinond New York Atlanta Boston .Arnount $10,000,000 500,000 Maturities 11-15 days 1-90 days (Comm'l) Letter dated September 28th, from Mr. Case, Deputy Governor °I' tile Federal lieserve Bank of New Yolk, advising that the Board of "ctors of that Bank, in accordanne with the practice of considering the 8a1 arie5 of officers on their service anniversary dates. haLl decided to -"140 no change in the salary of Mr Edwin C. French, Manager of the °Ilet()clY Department, but had, subject to the approval of the Federal teeerve Board, increased the salary of Mr. H. W. Snow, Jr., Cashier of 811-tfalo Branch, from $3800 to ,4.',4800 per annum, effective from the -2- clat Of his assuming his duties as Cashier. Approved.. Governor Harding submitted to the Board a letter from Mr. J. H. Caes D°Pity Governor of the Fedezal deserve Bank of New York, advising that the Havana branch of the National City Bank of New York was exper- lellcing a run by depositors, but that th9 Cuban branches of the Nat io nal City B ealk of New York had on hand and in transit to them a sufficient 444111t of cash to take care of the situation. Governor Harding further tatect that he had received word from Mr. Case that the Directors of the " 41 Reserve Bank of New York would during the current day appoint, e 11130ect to the approval of the Federal Reserve Board, the National City Balk Of l'ew York as its agency in Havana, Cuba. Upon notion, it was voted that Governor Harding be authorized, as soon as official action shall be taken by the Federal Reserve Bank of New York, to approve in behalf of the Federal Reserve Board, the aPpointment by that Bank of the National City Bark of Nat' York as its agency in Havana, Cuba, with the understanding that no business will be transacted as a result of such agency, until regulations shall be Prescribed by the Federal Reserve Board. Letter dated. September 27th, from the Comtroller of the Currency Ilecilleeting approval of a salary of y:41''3,000 per annum to be paid to Mr. 141/4 P. Brock, Nat kmal Bank Zexaminer in the Tenth Federal Reserve triet. Approved. -3- REpoR Dat _S OF COLIMITIEE NO. 1: - September 29th, Recornrrending approval of the application of Mr. T. H. Kevin to serve at the same time as director RINI officer of the First National Bank of Salida, California, and as director ani officer of the Sacramento-San Joaquin Bank of Sacramento, Calif. Approved. At 12:35 p.m. the meeting adjourned. Secretary. 4P131 ' 0 Yed
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