466 At an adjourned meeting of the Federal Reserve Board held in the office of the Governor of the Board at 3:00 p. m., on Monday, April 17, PRESENT: Mr. Hamlin, presiding Mr. Williams Mr. Delano Mr. Harding Mr. Miller Mr. Allen, Secretary. The election of a Class "C" director at Dallas, made a special order for the meet- ing was taken up and Mr. H. 0. Wooten of Ab- ilene, Texas, unanimously elected to fill the unexpired term of Mr. Felix Martinez, deceased, said term expiring on December 31, 1916. The resolution of the directors of the Federal Reserve Bank of Richmond increasing its rate an commodity paper from 3% to 3e, and ex- tending the time of the present rate of 35 on trade acceptances from 60 to 90 days, both effec - tive on April 20, was approved. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Transcript
466
At an adjourned meeting of the Federal
Reserve Board held in the office of the Governor
of the Board at 3:00 p. m., on Monday, April 17,
PRESENT:
Mr. Hamlin, presiding Mr. Williams
Mr. Delano Mr. Harding
Mr. Miller
Mr. Allen, Secretary.
The election of a Class "C" director
at Dallas, made a special order for the meet-
ing was taken up and Mr. H. 0. Wooten of Ab-
ilene, Texas, unanimously elected to fill the
unexpired term of Mr. Felix Martinez, deceased,
said term expiring on December 31, 1916.
The resolution of the directors of the
Federal Reserve Bank of Richmond increasing its
rate an commodity paper from 3% to 3e, and ex-
tending the time of the present rate of 35 on
trade acceptances from 60 to 90 days, both effec-
tive on April 20, was approved.
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A letter from Mr. J. B. Porgnn, pres-
ident of the Federal Advisory Council, stating
that a meeting of that body would be held on
May 16, and asking the early submission by the
Board of questions for the consideration of
the Council, was read and referred to Mr. Del-
ano.
Attention was directed to the action
of the Board on March 23, relative to the
method of transferring title to gold order cer-
tificates held' in the Gold Settlement Fund, and
it was agreed that it should not at present be
submitted to the meeting of the Governors.
The Committee on Operation of the
Richmond Bank was authorized to take up with
the bank the question of improving its quar-
ters.
Applications for stock in Federal
reserve banks, duly recommended by Mr. Harding
as Chairman of the Committee on Member and
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State Banks, were approved as follows:
DISTRICT No. 3.
First National Bank
DISTRICT No. 5.
Commonwealth Nat'l
DISTRICT No. 9.
First National Bank
Shares.
Absecon, N. J. 17
Reedville, Va. 17
Gonvick, Minn. 15
Applications for additional stock in
Federal reserve banks, duly recommended by
Mr. Harding as Chairman of the Committee on
Member and State Banks, were approved as fol-
lows:
DISTRICT No. 6.
First National Bank
Houston Nat'l Bank
Farmers National Bank
First National Bank
Florida Nat'l Bank
Nat'l Bank of Commerce
First National Bank
First National Bank
Georgia National Bank
First National Bank
Erwin National Bank
Shares.
La Pine, Ala. 3
Dothan, Ala. 9
Opelika, Ala. 9
St. Cloud, Fla. 1
Gainesville,Fla.35
Pensacola, Fla. 6
Vienna, Ga. 12103
Reynolds, Ga.
Albany, Ga.Biloxi, Miss.Erwin, Tenn.
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DISTRICT No. 7.
Commercial German Nat-ional Bank
Farmers & MerchantsNational Bank
Farmers National BarkFirst National BankFirst National Bank
DISTRICT No. 9.
First National BankFirst National BankFirst National BankFarmers National BankFirst National BankNational Bank ofFirst National Bank
First National BankFirst National BankFirst National BankUnited States Nation-
al BankFirst National BankClark County Nation-
al BankFirst National BankLake County Nat'l BankFirst National BankFirst National BankFirst National BankCommercial Nat'l Bank
First National BankFirst Natianal BankFirst National BankFirst National Bank
Shares.
Peoria, Ill. 46
Morris, Ill. 3Westervelt, InaBoone, Iowa 9Sheldon, Iowa 3
Lakeville, Minn.1Lamberton, Minn.3Litchfield,Minn.2Luverne, Minn. 1Laverne, Minn. 3Luverne, Minn 3Minnosota Lake,
Clark, S. Dak. 1Hecla, S. Dak. 1Madison, S. D. 1Miller, S. Dak. 9White Lake, S.D.1Columbus, Mont. 3Great Falls,
Mont .1Turtle Lake,N.D.1Streeter, N. D. 2Sharon, N. Dak. 1Rock Lake, N.D. 1
469
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471)
Union National BaakFirst National BankFirst National BankFirst National BankJames River Nat'l Bank
First National BankFarmers National BankFirst National BankDakota National BankFirst National BankFirst National BankCity National BankFirst Natiolul BankAnamoose Nat'l BankFirst National Bank
Windon National BankWells National BankFirst National BankMerchants National BankCapital National BankFirst National BankFirst National BankFirst National BankFirst National Bank
First National Bank
National Citizens BankFirst National Bank
First National BankFirst National Bank
Fairmont National BankFergus Falls Nat'l Bank
First National BankFirst National Bank
First National BankBrown National Bank
Minot, N. D. 3McVille, N. D. 2
Langdon, N. D. 3
LaMoure, N. D. 3Jamestown, N.D. 6Hebron, N. Dak. 1
Ellendale, N.D. 1
Edgoley, N. D. 3
Dickinson, N.D. 3Crosby, N. Dak. 1
Buffalo, N. D. 3Bismarck, N. D. 6Beach, N. Dak. 4
Anamoose, N. D. 1
Winthrop, Minn. 1
Windon, Minn. 3Wells, Minn. 3
Waseca, Minn. 3Sauk Centre,Minn2
St. Paul, Minn.30Plainview,Minn. 1Pipestone,Minn. 6
°Bakis, Minn. 1
Beaver Credc,Minna
Blooming Praire,Minn.1
Canby, Minn. 1
Ceylon, Minn. 1Cottonwood,Minna
Dodge Center,Minn.1
Fairmont, Minn. 1
Fergus Falls,Minn18
Foley, Minn. 2
Fulda, Minn. 3Hendricks, Minn.2
Jackson, Minn. 1
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;DISTRICT No. 11. Shares,I,
Morris County Nat'l Bank Naples, Tex. 9
At 3:45 p. in., the Board adjourned to
meet on Wednesday, April 19, at 1 a. in.
Secretary.,
APPROVED:
Chairman.
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