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4) t At a meeting of the Federal Reserve Board held in the office of the Board at 11:10 A. M. on 3eptember 8, 1916 Pa:O=T: Governor Harding, presiding, Mx. Miller, Mr. .;.arburg, Mr. Williams, Mr. Allen, zdecreary, The meeting of the Board called for 11:00 A. L. beptelaber 7th, was postponed by the Governor of the ...()rd to this The Minutes of the meetings of the Board as follows, were afproved:Two meetings on August 29 1916, One mectin on August 30, 191, Four meetings an ,'Ngust 31, 1916, One mting on September 1, 1916, leaving the minutes ol t.e meeting at 12:10 P. M. Friday, ',',Aptamber 1st, awaiting approval, and the minutes of the meetings of the Executive Committee on September 2, 5-, 6, and 7, and the action taken were approved. A proposed statement relating to the 90(,) amenaments, prepared by Counsel for the September Bulletin, was referred to the Committee on Bulletin for report to the Board. The question of transferrinc the combination to the safe containinfs the Gold Settlenent and the Federal Reserve Agents' l'unds was referred to the Gold Settlement Fund Committee for investigation and rorort, Governor Hardinc to act in place of Mr. Hamlin durinc the latter's absece. After discussion it was acreed on motion of Mr. Miller that consideration of al.plieations under the Clayton act should be deferred until the return of the Chairman of the Committee, Mr. Hamlin, on September llth, and that as soon thereafter as possi-de a meetinr of the .ourd be held to dispose Of the aT.Plications. A letter from the Federal Reserve Acent at New York, statinc' that he would come to .4ashincton for the consideration of Clayton ct afpli- cations on Monday was noted and the Secretary directed to request Lr. Jj to arrenge to remain in '„a:,hington on Tuesday. Attention was celled to the announcement that a conference of country bankers, for the purpose of supportinL. the St. Louis Conference as to free remittance of checks and to take such action as seems best against branch banking and unnecess.2.r:, burdens ul)on country banks especially", had been called on September L:/tia, during the meeting of the American Bankers' Association at Kansas City. A proposed letter to Lepnts calling attention to the election of directors for 191/ was referred to t_le 2xecutive Committee with power. Upon recommendation of the Committee on Staff it was voted to drop the name of messenger Harvey 7icholson, because of insubordination, from the rolls of the hoard, as of September 7th. An opinion of Counsel as to the definition of "imcroved farm land" was arprov9d. 911 A letter prepared by Counsel to J. L. Anderson, President of the Equity Co-operative Exchange, St. Paul, 741inn., holding that notes of farmers' grainelevator companies are eligible for rediscount by Federal Reserve Banks was approved. Approval ias given to an opinion of Counsel holding that rediscounts by Federal Reserve Banks should be shodn as a contingent liability in reports of condition and that they should not be shown as a part of the assets of the bank. An opinion of Counsel as to indorsements on separate pieces of paper was referred to the Comittoo on Law. The recommendation of the Comptroller of the Currency for the approval of the appointments of the following National Bank Examiners was referred to the Committee on Audit and Examination, the Governor of the Board to act on 91.2 the Conznittee in the absence of Mr. Hamlin:T. G. M. T. P. J. Goodvtin, 1st Federal Reserve District, $2,400 per fl If If B. ';.'illcinson, 2d $24400 " it n t, M. Prontis, 5th $2,400 TI it ft M. :Allifms, 10th 03,000 /I C. Borg, Examiller, $3,000 rt At 12:30 P. J. the Board adjourned to meet at —the call of the Governor. APPROVED: ii Vt
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