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A meeting of the Federal Reserve Board was held in the office Of the Board on Friday, September 9, 1921, at 11:25 a.m. PRESENT: Governor Harding Mr. Platt Mr. Miller Mr. Crissinger Mr. Hoxton, Secretary. Minutes of the meeting of the Board held September 8th were l'ead and. on motion approved. The Governor reported the reserve positions of the several 1?eclel'al reserve banks as at close of business September 7th, and the status of rediscounts between the Federal reserve banks as of the Bell* date. The Governor reported redisco unt transactions, member bank 111()raissory notes secured by Government obligations, rate 6%, as follows: Date SePt. 8th Bank rediscounting Atlanta With Ann tint Maturities Boston 500,000 1-90 days Letter dated September 8th, from the Deputy Governor of the ?ec/eral Reserve Bank of New York, Mr. Case, advising that the Board or. Dil'oetors of that Bank had considered the salaries of those officers 11°1e anniversary dates of employment fell dtring the month of August, 8114 that no changes in such salaries were recommended. Not ed. Letter dated September 8th, from Deputy Governor Case of the Reserve Balk of New York, enclosing copy of a circular addressed to . tile employes of that Bank, advising of the abandonment of the armiIrel'eal'Y plan for salary adjustments, aid the return to the plan of -2- 811411a1 adjus trren ts on Jan va ry 1, 1922. Mot ed. Memorandum dated September 8th, from the Acting Assistant to the Governor, giving the details of the operation and cost of the tele134ne lines leased by the Federal Reserve Board, and on the basis thereof ' l ecommending a new adjustment in the method of pro rating the expense. Approved. Referred to Governor Harding, with a view to taking up with the Treasury Department the matter of that Department's use of the said telephone lines. Telegram dated September 8th, from the Chairman of the Federal ileaellie Bank of San Francisco, setting forth the various expense accounts liellriered to that Bank by the member of the Federal Advisory Council of that District in connection with his trips to Washington to attend the atatlatory meetings of the Council. e4c1 lowancs Mr. Platt moved that the compensation for Mr. Mills, genber of the Federal Advisory Council. of the Twelfth. Federal Reserve District, fixed by the Federal Reserve Bank "Sell Francisco at 6OO. for each attendance upon the meetings of the Fed ' elsal Advisory Council, be approved by the Federal Reserve Board. Carried, Mr. Miller not voting. Draft of letter dated September 7th, prepared for the signature Or a'°vernor Harding, addressed to the Chairman of all the Federal reserVe banr Wj copies to all Governors, request lug that information be light to the next conference of Governors and Federal Reserve Agents -4:14g In detail the expense accounts of the several Federal reserve batik 8 9 aid enclosing forms upon which such reports are to be made. r,. -3- Appro ved and o rdered transmitted. Letter dated September 9t115 from the Comptroller al' the Currency, approval of a salary of :3,000 per annum to be paid to Llr. Alfred P. Leyburn, National Bank Examiner in the Ilinth Federal Reserve Strict Approved. .13...R.TS. OF C07,2.TITa-L NO. 1: ilated Sept ember 8th, ock at Federal Reserve Reco=taryling c1Bnes in auxiliary minute book forth in the orth set e a f this :Tokf s' as Approved. At 1:00 p.m. the meeting adjourned. Secretary. 4Proved:
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