FEDERAL RESERVE BOARD

WASHINGTON

-; .;( L'LAT'11:

ndrsiued. request that you call a special

inf,-; of the " ieral Reserve Bo:2ru for today, L:onday, e ember

2 10:40 a. m.

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special netinC of the Federal 'Reserve Board was held in he

Office of the Federal *Reserve roard on ronday, December 11, 1922 at 10:55 a.m.

Vice Governor Platt

Fr.17r. 7,7111er

chell

/7r. Crissinf7erHoxton, Secretary

The Vice crovca-- (:)/. stated that the meetin,2; had 'Veal called upon

the written request of three millers of the Board as required by the By—

laws.

The minutes of the meeting of the Federal Reserve roard held on

December 0th \ ere read aid on mot ion approved.

r7'.1e Vice Governor reported the reserve positions of the several

Federal Reserve banks as at close ( f tusiness December 7th Lnd 8th.

tchel I submitted the application, dated rovembcr 6th, of the

Bank of Central and south .,1.merica, reconrending that it I e placed under the

supervision of the Federal Reserve roard to the extent provide in section

25 of the Federal Reserve ct, and re -uestin7 that the Federal Reserve Board

nr,ke remlar examinations of the rew York office of the applicant, and, if

Possible, of the offices of all affiliates.

Approved, with the understmding that leneral Counsel

will draw up and. cause to be executed the necessary papers

in the case.

1;:r. ritchell reportin-.: for the Committee on the "omination of Class

"Cu directors, recommended that all of the present Chairmen and Federal Reserve

A,:;ents be redesipTeted for the calendar year 192, with the exception that

the Board post-)one for the present, the appointment of the Chairmen and Federal

Reserve Ar:;ent at the Tecleral Reserve Bank of Dallas.

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12/11/22 -2-

Upon motion, the recorrnendation of the Committee on

the 'Tomination of Class "0" Directors was adopted and the

Secretary was directed to advise the Federal Reserve Agents

and Chairmen of their redesignation for 1923, and to advise

those class "C" Directors in the several Federal 'Reserve

tanks who were cppointed at the m.:'etiry-:: of the Board held

Decemb,er 8th. It was finihtx decided that all appointments

aforesaid may now be made public.

1:emorandi m dated Decemb er 8th, from the Coml)troller of the Currency, trans-

mitt, with favorlle reconnendat n, the a.1)p1icat ion of the 'irst t onal

Bank of Clio, S. C. for permission to reduce its ca.pit.1 stock from 150,000

to '''25,000.

Approved.

remorandum dated December 9th, from the Corn_?troller of the Currency, trans-

raittiLgovith favorable recommendation, the applieLtion of the 'First 7••,tiona1

13arik of Fremont, rebraska, for permission to reince its caoital stock from

%50,000 to :',100,000.

Approved.

Letter dated Decf,mber 8th, from the Comotroller of the Currency advisinr!

Of the appointm.mt of rr. 1". A. Smith:, as a. at ion.O. Pa.nk Thcarniner t,ssimed.

to the Eighth Federal Peserve District, and requesting approval of a salary

Of "2700 0(:r annum.

Approved.

Letter dated December 7th, fr_m the Comptroller of the 'Iirrency, recom-

l'41ellElin11,, increases in the salaries of Trationp1 7ank aminers assicned to the

Seventh Federal :Reserve District, effective January 1st, 1923, as follows:

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j

1L/11/L.

:Tame 21'esdnt Salary Yew Salary 7!ecommended

Dan TT. Cooney :2400 :,!>4500n'illiam 21. culver 3000 33007illiam P. Funsten 3600 3900Winfield c. qilmore 3000 3300E. I. Joseph :)3-0 3600

' John n. Yoqrath 4500 4300Earl T. loon 3600 4200Fulton .. dotter 3300 35007,otert .'o'er 3000 3300;. Robert Robinson 3900 4200,Trohn ". Sawyer Jr. 4800 5000Aiward ". -ilson 4200 4500

:.pproved.

Resolution of the "card of l'iirectors of tie ,-e oral 2esi rye rank of

ICansas ado9ted -ov:T.11) T 27, 1922, declarinc", a dividend ef 6.7 --)er r.)11num

for the semi-annual per iod endinn; Dec f3mb 1, 1922, payable on 'Dec, mber 70,

,on all ctoc of recc rd on that date.

A:),)roved.

Fernol'andum dated ')ecemi (T .ith, from the Thief of the 'AV 021 of ;nalysis

z,dvisin-, of the a p1icatoii :or sick lcave 0i iss ,!.nna Youn-rnan,

ernplok,-qi in the TAvision of ,Analysis arra Research, -nd recornendinc: that a leave

Of absence, vithout ay, for the firt:', tvo months of 1927 be ("ranted.

A )proVed•

0:712" -cal -0. 1:

bated 7)ccemiJer 0th, 1Thcornem1 Dip; approval of the applict tion of a. Reece S.Allen, to serve at t}it. same time z.-4_s director o.' the

•t ional '1a.r.k of -ichita 'ails, 'Exas, the colith-%fest Otona1 ank of 1)allt‘ s, Texas , and the First 'ration-alaeotrp,

.irovea

1`.t 1:10 o'clock the Iwetin: Ltd.,1( urned

Prave(

r

.3ecret:_r7.

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