IA a special meetina- of the Federal :eserve Board, Acid in the office of the lovernor at presidin, r.,illiarns, 7ardin:;, :Ir.

Transcription

1 IA a special meetina- of the Federal :eserve Board, Acid in the office of the lovernor at.00 on ednesday, Lst 5, 7ardin:;, presidin, r.,illiarns, :Ir. Hamlin,. vlllis,,eoretary..,leports'of the Jommittee on ::embersaip with reference to the ad:aission of L;tate institltions arplyins for me-lbership in the?edcral deserve Jystem were presented, aad after consideration reports favorin:;,._dmissioh of the following institutions :iere approved, and the institatls accordir<:,7 ordered admitted: Ilibernia Trust Jomr,anu, Yew Orleans, Louisiana, littumwa avings Dank, Ottumwa, in. Peoples E,avinjs Bank Trust,)o., Jhase city, Va. report of the 2ommittee on "rastee Powers, with reference to applications for such power's, was presented, and on motion, approved, action being accordingly taken as follows. 44ppications for po-er as trustee, e-_,ecutor achninistrator, re,;istrar of stocks and bonds, approved: Dist.. Tenison rational. Bank, Dallas, Texas. Myerstown flational Lank, :,,Terstown, Pa.. 2irst rational Bank, Buffalo,,:;yomin2;, 0 4. anuflt.ctarers rational Bank, Lynn,

2 4plications for power as trustee, executor, administrator, approved: Dist.. Famers & :erchants Nat'l Bank, Benton Harbor, nch Edgartown National Bank, Edgartown, ass.., Luray, Kansas, 0 applications for power as trustee only, unproved:. German National Bank of 4,egheny, PittsourL;h,Pa. 4 ITplications for power as registrar only, approved:., Canton, Ohio. '4.pications held pending receipt of reports of subsequent examinations:. Farmers National Bank, Ponca City, Okla First National Sank, Roswell, N...:. -Central National Bank, Battle Creek, 'Lich. 7 4., Williamsport, Pa Norfolk National Bank, Norfolk, Nebraska, 0 Changes in capital stock at Federal Reserve Bunks were, on recommendation of the Committee on Ilembership, approved as follows: ipplications for surrender of stock. DistrictNo.. Shares. Norwood rational Bank,. Norwood,.s. 20 Rochester rational Bank. Rochester, ' Viiscasset,.e District No Friendship, 69 Citizens rational Bank Friendship, N.Y

3 .4ppications for surrender of stock (Jon.) District No.. Shares 'Beaver Sprins,Pa. 5 5 District No. 4. I,:etropolitan National Bank Cadiz, Ohio Pittsburgh, Pa District No. 6. Citizens National Bank Edwardsville, Ill. 20 Llonticello, Ey. 2 2 District No. 0. National Bank Center, Colo. Paonia, Colo. foteau, Okla pplications for additional stock. District No.. Deep Aiver rational Bank Citizens National Bank Powow River National Bank Peoples Nati Bank of loxbury Peoples National Bank Deep River, Jonn.. Hartford, jonn. -;;aterbury, ilmesbury, Boston, ::ass Boston,..:ass. ltarlboro, District No. 2. Brasher Falls National Bank Callicoon National Bank Cherry Creek National Bank Cornwall National Bank loshen National Bank idexandria Bay, N.Y. 24 mityville, N.Y. :/.ye, N.Y. Brasher rj'alls Brewst(!rs, N.Y. j,allicoon, N.Y. 6 Cherry Creek, N.Y. Cornwall, N.Y. East Rochester, N.Y. Farmingdale, N.Y. Freeport, N.Y. aoshen,

4 .,.ppicutions for additional stock. (Jon) Lwedish.rlerioan National Bank Jamestown,.N.Y.. 5 aenesee River rational Bank Mount Norris, N.Y. Norfolk, N.Y. Redwood National. Bank Redwood,, N.Y. First rational Bark Ripley, N.Y. Farmers National Bank Rome, N.Y. 5 Roscoe,.7.Y. 6 Cititens rational Bank Sprinsville, Tuckahoe, N.Y. ITnadilla National Bank Unadilla,:r.Y., Jefferson Joanty National Bank Watertown, 60 Citizens National Bank Wellsville, N.Y. 6 Lyndhurst, N.J. Milltown, L.2. 5 Pompton Lakes,. N.J. 8 South River, Verona National Bank Verona, N.J. u0 District No. 4..,Aitesburs, Ky. Ilshland, Ohio 0 Batavia, Ohio Ohesterhill, Ohio National City Bank City National Bank Central National Bank Lational Bank of Dennison National Bank :lerchants National Bank First Laticmal Bank :onroe National Bank Paulding National Bank Cleveland, Ohio Jolambas, (U.o Columbus, Ohio Cleveland, Ohio Dunkirk, Ohio, Delphos, Ohio Dennison, Ohio Grove City, unio Ironton, Ohio Kinc;ston, Ohio - lassillon, Ohio Lt.liashinton, Ohio :.onroe, Ohio Lew Vienna, Ohio NO. Baltimore, Ohio Norwood, Ohio Pauldins, Ohio Pitsbarj, Ohio Z0

5 Tplications for Ldditional Stock. (Jon. Citizens rational Bank :Zipley rational Bank Farmers National Bank Peoples National Bank Commercial National Bank Second National Bank Second rational Bank Peoples National Bank National Bank of Peoples National Bank Clarion County National Bank :arine National Bank Homer City rational Bank western National Bank Sligo rational Bank Piciaa, Ohio 5 Aipley, Ohio Shelby, Ohio Springfield, Ohio Steabenville, Ohio 9 Tiffin, Ohio 9 Tole, Oaio 600 7pper Sandusky, Oaio warren, Ohio 4 wellsville, Ohio 6 Jlaysville, 7a. JO Clintonville t Pa. Donora, Pa. sdenuar. (P.0.Knox)Pa. 5 -Erie, Pa. Fairchance, Pa. Homer City, Pa. New Kensington, Pittsburgh, Pa, Sharon, Pa. Sligo, Pa. Stoneboro, Pa. Aodlawn,?a. JO L60 District No. 5. :Tenry rational Bank First Nati Bank of St. :.:ary's Poolesville National Bank :Slkin National Bank 'first National Bank Union National Bank Bank of Charleston, American National Bank Marshall National Bank Seaboard National Bank bbevile,.la. Leonardtown, Toolesville, Ld. r. J. Kings L:ountain, Shelby, N.J. Batesbar, S.C. Columbia, S.J. Fairfa2;., S.C. Charleston, V:agener, Danville, Va. Danville, Va. Marshall, Va. Norfolk, Va

6 44plications for Additional stock (eon.) District 5. 2irst National Bank National Bank of Murk National Bank Onanoock, Va. Uranc;e, V4. Northfork, 4. Va. :orthfork, Va District No. 6. Henry National Bank 'Selma National Bank National 'City Bank Bibb National Bank Ander National Bank 7hoenix National Bank East Tennessee National Bank Broaday National Bank a. Panama City, Fla. (amson, 4la. Lakeland, -Fla. Tampa, Fla.. Commerce, Ga. - berton, Ga. Jackson, Ga. eon, Ga. I.:adison, Ander, Ga. Chattanoosa, Columbia, Tenn. Knoxville, Tenn. Nashville, Tenn Tenn.,50 20 J ) Goveruior Harding read L., draft of lar intended to be transmitted to 7'ederal Reserve Banks with reference to tkle sale of acceptances by one Federal Reserve Bank to another Federal Reserve Bank. On motion the letter was approved and ordered transmitted. memorandum prepared by the Division of tatisticô with reference to the dates of call and compilation of the

7 reports of ;:tdte melber b. nl,s, S on motion referred to the Conittee on 2 tdit The cse of -. smith, amwnber of the Board's st ff, who e2,:pects.to enter the Officers eserve Camp, zit?t. cridall, Ill., was presented to the Board, and on motion it ws voted that his place in the Board's stff be held open pending the result of his traininr in the reserve camp, or for three months. Correspondence between the?ederal eserve ;ent at _tlanta, and the -,qrst National Bank, of 74avonia, la., with reference to obtainino; statements from borroders, and a letter transmitted by the qoverlor of the Board to trio.tlanta Ban, was read. The letter alrtady cent was approved and it s voted that an add itional letter callin7 attention to the necessity of re,lairin,i; statements be transmitted. letter from?,overnor :old with reference to disloyalty to the qovernment in the 9th :edcral eserve District was presented and on motion referred to the qovernor of the Board for sach iction as he _I ht deem best. letter from 7ederal aecerve :ellborn inclosil-7 nemorandam by,;aslier?ike, with reference to the rnishin:-; of carrency in sufficient,.a:ntities at the Pew Orleans Branch

8 d,rin:s the crop novins. period, was read and on motion referred to the Governor of the Bonrd for consultation with -ssistant Secretary of the Treasury Crosby. report of the Jommittee on Staff, dated Lugust 0, favorable to certain increases in salary at the ederal Reserve Bank of cdevela.id, was presented and on motion approved and the increase accordingly authoried. An informal report of the Jommittee on Staff favorin certain increases in salary at the itlanta Bank, as proposed in a letter received from"federal Reserve 4,_;-ent Jellborn under date of Lu;,ust, was presented and on motion approved, Lrd the increase accordingly authorized. A letter from H. :ctyer, of the Tirvt National Bank of Bainbridse, la., re,luestin:,; power to act as director in certain specified institutions was on motion referred to the,;ommittee on the Clayton Act.?or-As of oaths executed by the directors of the Spokane Branch of the Federal Reserve Bank of Sun Francisco, were, on motion, referred to counsel for arproval. The status of the City of L:harleston as a reserve city and the question whether it could be released from this

9 status was, on motion, referred to 7% Delano as Chairman of the Special Committee on Reserve cities. Upon favorable report of the Committee on Investments, the rational Shawmut Bank of Boston was authorized to accept drafts under the 7ederal Reserve Act, drawn by bankers in South and Oentral,.,merican countries to create llar exch:,xne. On motion, at.40 p.m., the -;-)ol,rd dj OLImed..2PROVED: Chairman. Score

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