de8 A meting of the Federal Reserve Board was held in the office of the Board on Wednesday, June 1, 1921, at 11:45 a.m. PRESENT: Vice Governor Platt Mr. Hamlin Mr. Mil ler Mr. Mitchell Mr. Criss inger Hoxton, Secretary. Minutes of the meting of the Board held May 31st were read and on motion approved, as amended. The Vice Governor reported the reserve positions of the sev- eral Federal reserve bcnks as at close of business May 28th. and the status of rediscounts between the Federal reserve barks as of the same date. The Vice Governor re Do rted red is co unt transactions, member bank promissory notes s eciz ed by Government obligations, rate 6, as follows: Dat e Bank reai s- With Amount Mat unit ies counting May 31 Richmond New York ';10,000,000 11-15 days May 31 Minneapolis New York 5,000,000 11-15 ") 1-90 ") May 31 Dallas Boston 2,500,000 11-15 " Letter dated May 26th, from the Chairrran of the Federal Re- serve Bank of Philadelphia, stating that, with the approval of the Federal Reserve Board, he should like to appoint Mr. George Augher- ton, of the examining force of the Federal Reserve Board, as Exam - in er for the Federal Reservti Bank of ;Dhiladelphia, at a salary of E Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
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de8
A meting of the Federal Reserve Board was held in the office
of the Board on Wednesday, June 1, 1921, at 11:45 a.m.
PRESENT: Vice Governor PlattMr. HamlinMr. Mil lerMr. MitchellMr. Criss inger
Hoxton, Secretary.
Minutes of the meting of the Board held May 31st were read
and on motion approved, as amended.
The Vice Governor reported the reserve positions of the sev-
eral Federal reserve bcnks as at close of business May 28th. and the
status of rediscounts between the Federal reserve barks as of the
same date.
The Vice Governor re Do rted red is co unt transactions, member
bank promissory notes s eciz ed by Government obligations, rate 6, as
follows:
Dat e Bank reai s- With Amount Mat unit ies counting
May 31 Richmond New York ';10,000,000 11-15 daysMay 31 Minneapolis New York 5,000,000 11-15 ")
1-90 ")May 31 Dallas Boston 2,500,000 11-15 "
Letter dated May 26th, from the Chairrran of the Federal Re-
serve Bank of Philadelphia, stating that, with the approval of the
Federal Reserve Board, he should like to appoint Mr. George Augher-
ton, of the examining force of the Federal Reserve Board, as Exam -
in er for the Federal Reservti Bank of ;Dhiladelphia, at a salary of
E
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I$4,500 per annum.
Approved.
Letter dated May 31st, from the Director of the Division of
Analysis & Research, with reference to securing quarters for that
Division in New York City.
Referred to Governor Harding with power.
Letter dated May 28th, from the Chairman of the Federal Re-
serve Bank of New York, transmitting, subject to the approval of the
Board, the action of the Board of Directors of that Bank in employ-
ing at $7,500 per annum Mr. H. N. E. Gleason for temporary work in
making a thorough and effective audit of the expenditures for the
new building, and. carrying on during the course of construction a
current audit of the general contractor's books.
Referred to Governor Harding with power.
REPORTS OF COMIT'Prir NO. 1:
Dated May 26th, Recommending action to be taken on applications forFiduciary powers, as set fcrth in the auxiliary min-ute book as of this date.
Approved.Dated May 26th, Recommending approval of applications for admission
of state institutions, subject to the conditionscontained in the individual reports attached to theapplications, as set forth in the auxiliary minutebook as of this date.
Approved.Dated June 1st, Recommending that authority be given to certain
national banks to purchase stock in Edge Corporations,as set forth in the auxiliary minute book of this date.
Approved.
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At 1:15 p.m. the meting adjourned.
Vice Governor.
Secretary.
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