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A meting of tha Federal Reserve Board was held. in the office Of the Board on Wednesday. September 7, 1921, at 11:25 a.m. PRESM: Governor Harding Mr. Platt Mr. Miller Mr. Cris singer Mr. Hoxt on, Secretary. Minutes of the meeting of the Board held. September 6th were read and on motion approved. The Governor reported the reserve positions of the several l'ecleral reserve banks as at close of business September 3d, and the status of rediscounts between the Federal reserve banks as of the 8e date. The Governor reported rediscount traasactiOns, member bank -- not es sectr ed by Government obligations, rate 6%, as Promissory tollews: Date SePt. 6 tt 6 II 6 it 6 Bank redis-With counting Mew York Richmond Bost on Atlanta New York Minneapolis Boston Dallas Airount $10,000,000 2,500,000 1,000,000 2,000,000 Maturities 11-15 days_ 1-90 it 1-15 ft 11-15 Letter dated August 29th, from the Chairman of the Federal ileserve Bank of San Francisco, submitt ing report from the Manager Of the Los Angeles Branch dealing with credit conditions in the 1013e staple cotton territory of Arizona, detailing the mr-...nner in Which the eitintion has been handled in the past and making suggestregarding the fat ure Noted. -2- 11E-Pores OF OOMITIT7T1 NO. 1: Dated September 7th, Recomrrending changes in stock at Federal reserve banks, as set forth in the auxiliary minute book as of this date. Approved. Dated Septenber 6th, Recommending action on applications for fiduciary powers, as set forth in the auxiliary minute book as of this date. ApIroved. At 12:30 p.m. the meting adjourned. Secretary. APIrro ved •
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