A meeting of the Federal Reserve I3oard was held in the office of the

Governor on Wednesday, November 30, 1921, at 3:20 p.m.

PRMENT: Governor HardingMr. PlattMr. HatolinMr. MillerMr. MitchellMr. CrissingerMr. Noxton, Secretary

Minutes of the meeting of the Board held November 29th were read

ella on motien approved.

The Governor retorted the reserve positions of the several Federal

4serve banks as at close of business November 28th and the status of

Naseounts between the Federal Reserve banks as of the same dates.

Ba/16.

Letter dated November 25th, from the Chairman of the Federal Reserve

Of St. Louis, inquiring if that bank would be justified in refunding to

the Department of Justice the fees and expensesnecessary to procure the

of a special assistant to the Department of Justice to assist the

States Attorney in the prosecution of the cases against certain former

qficers of the First National Bank of Rosedale, Miss., it being charged that

11" officers were guilty of actions which wore responsible for the failure

(11) the First National Bank of Rosedale.

Upon motion, it was voted that the Federal Reserve

Board interposes no objection to the Federal Reserve Bank

of St. Louis making the refund referred to and the matterwas referred to the Comptroller of the Currency with therequest that he ascertain the attitude of the Departmentof Justice in the matter and make necessary arrangementsto the end that the special assistant will be made avail—able, as requested by the Federal Reserve Bank of St. Louis.

Letter dated November 22nd, from the Federal Reserve Agent at

1414Il aPolis, transmitting with his approval, the request of the Security State

134.41,'''' Of '-anemineo, Minn. to withhold without prejudice, its agreement to the termS

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431) °Bed by the Federal Reserve Board for membership in the Federal

ileserve system until after the annual meeting of the shareholders of

the/ bank which is to be held early in January, 1922.

Approved.

Letter dated November 30th, from the Railway Loan Advisory Committee

"tba Federal Reserve Board, recommending approval of the form of oblige.,

4°4 submitted by The Chesapeake & Ohio Railway Company for a loan, in four

154Itts. of $5,336,000, the carrier electing at this time to take over the

thircl Part of the loan amounting to :,',i1,334,500, under the provisions of

heti-on 210 of the Transportation Act, 1920, as amended.

Approved.

Two memoranda dated November 29th and 30th, from the Assistant 3ecretary

°t th•-e Federal Reserve oard, recommending approval of the request that the

"41 Reserve Bank of Richmond be taken off of the Richmond, Atlanta and

.41144-ngton circuit of the Leased Wire System, that Washington be taken off of

thePrivate line between Richmond and the Baltimore branch, and that the

NIA—ral Reserve Bank of Richmond be connected with Tashington by a direct

14 at a cost of approximately $260 per month. Also, that a new line be

4ished on the Tashington, Philadelphia and New York circuit, in order

11'°vide needed additional facilities at a cost of approximately $615 pert

Approved, it being understood that the new Tashington

Philadelphia and New York circuit would be acquired sub-

ject to a trial period of thirty days.

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Pursuant to the action of the Board taken at its meeting of yester-

481, Covernor Harding submitted a proposed draft of circular letter to

411 Federal Reserve Banks covering the matter of making charge offs

tor depreciation upon plant and equipment.

Approved.

TTIoOT2iTTTal NO.1

tooted November 30th,

41114eoved;

recommending changes in stock at FederalReserve Banks as set forth in the auxiliaryminute book as of this date.

Approved.

. At 4:20 p.m. the meeting adjourned.

3ecretary.

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