FEDERAL RESERVE BOARD 858

WASHINGTON A D D R E S S OFFICIAL C O R R E S P O N D E N C E T O

T H E FEDERAL R E S E R V E B O A R D

X-7642

October 19, 1953

Deaf S i r i

There i s a t t ached he re to , f o r your i n -

fo rma t ion , copy of a l e t t e r addressed by t h e

Federal Reserve Board t o counsel f o r a ho ld ing

company a f f i l i a t e i n connect ion wi th the sub-

miss ion of i t s a p p l i c a t i o n f o r a vot ing p e r m i t .

Very t r u l y yours ,

hr)o-iA^ Chester M o r r i l l ,

S e c r e t a r y .

I n c l o s u r e s .

TO ALL F. R. AGENTS Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

C O P Y X-7642-a * *

October 17, 19 33#

Mr. ,

Dear S i r :

Receipt i s acknowledged of your l e t t e r of September 29,

1933, i n -which you r e q u e s t t o be advised ( l ) whether

may f i l e Exh ib i t s " I " and "J" on p h o t o s t a t paper 6" x 911 i n s t e a d of

8" x lOg-", and (2) whether i t i s necessa ry f o r i t t o f i l e wi th the

Federa l r e s e r v e agent of each d i s t r i c t i n which a s u b s i d i a r y member

bank i s l oca ted (o ther than t h e d i s t r i c t i n which t h e a p p l i c a n t 1 s

p r i n c i p a l o f f i c e i s s i t u a t e d ) , a complete copy of t h e o r i g i n a l a p p l i -

c a t i o n , i nc lud ing a l l e x h i b i t s , or whether r e p o r t s of examinations

c a l l e d f o r under Exh ib i t "111 may be omitted i n f i l i n g cop ies of the

a p p l i c a t i o n wi th t h e Federal r e s e r v e agents of d i s t r i c t s o ther t h a n

t h a t i n which the a p p l i c a n t ' s p r i n c i p a l o f f i c e i s l o c a t e d .

In regard t o your f i r s t ques t ion , t h e r e i s i nc lo sed herewi th

a copy of t h e Board 's l e t t e r of October 6, 1933, t o Mr• ,

Federa l Reserve Agent a t , which r e l a t e s t o the s u b j e c t

of your i n q u i r y and which i s s e l f - e x p l a n a t o r y #

R e f e r r i n g t o your second ques t ion , the o r i g i n a l and two exe-

cuted c o u n t e r p a r t s of each a p p l i c a t i o n f o r a v o t i n g permi t , i nc lud ing

a l l e x h i b i t s , must be sen t t o the Federa l r e s e r v e agent of t h e d i s t r i c t

i n which the a p p l i c a n t ' s p r i n c i p a l o f f i c e i s l o c a t e d , and t h e Board 's

Regula t ion P contemplates t h a t a copy of each such a p p l i c a t i o n , i n c l u d -

ing e x h i b i t s , w i l l be f i l e d wi th the Federa l r e s e r v e agent of each

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

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% o X-7642—a

other d i s t r i c t i n which a s u b s i d i a r y member bank i s l o c a t e d . However,

i n view of the numerous e x h i b i t s which an a p p l i c a n t hold ing company

a f f i l i a t e of a l a rge number of s u b s i d i a r y member banks and s u b s i d i a r y

nonmember banks must f u r n i s h wi th i t s a p p l i c a t i o n , t h e Board w i l l not

r e q u i r e the f i l i n g wi th the Federal r e s e r v e agent of each d i s t r i c t i n

which a s u b s i d i a r y member bank i s l oca ted (o ther t han the d i s t r i c t i n

which the a p p l i c a n t ' s p r i n c i p a l o f f i c e i s l o c a t e d ) of a copy of each

and every e x h i b i t a t t ached t o any such a p p l i c a t i o n . In any such case ,

t he Board w i l l deem i t s u f f i c i e n t i f the a p p l i c a n t sends the o r i g i n a l

and two executed coun te rpa r t s of t he a p p l i c a t i o n , w i t h a l l e x h i b i t s ,

t o the Federal r e s e r v e agent of the d i s t r i c t i n which t h e app l i can t T s

p r i n c i p a l o f f i c e i s l oca t ed , and f i l e s with t h e Federa l r e s e r v e agent

of each o ther d i s t r i c t i n which a s u b s i d i a r y member bank i s . l oca t ed

a copy of the a p p l i c a t i o n on F.R.B. Form P - l , t o g e t h e r wi th such ex-

h i b i t s as may be necessa ry t o d i s c l o s e f u l l y the r e l a t i o n s between t h e

a p p l i c a n t and t h e banks i n t he d i s t r i c t i n which such copy of t h e ap-

p l i c a t i o n i s f i l e d and to enable t h e Federa l r e s e r v e agent of t h a t

d i s t r i c t t o determine the e f f e c t of such r e l a t i o n s upon t h e a f f a i r s of

such banks .

Accordingly, i t would seem t h a t the should

f i l e wi th each copy of the a p p l i c a t i o n f i l e d i n any d i s t r i c t o ther

than t h a t i n which the a p p l i c a n t ' s p r i n c i p a l o f f i c e i s l o c a t e d t h e

r e p o r t s of examinations c a l l e d f o r by Exhib i t I which c o n t a i n i n f o r -

mation p e r t a i n i n g t o t h e s u b s i d i a r y member banks l o c a t e d i n t h e d i s -

t r i c t i n which such copy i s f i l e d .

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

8

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I t i s understood t h a t t h e a p p l i c a n t w i l l f u r n i s h to any such

agent , upon r e q u e s t t h e r e f o r , any o ther i n fo rma t ion which i s r e q u i r e d

under P.R.B. Form P - l t o be submitted with t h e o r i g i n a l a p p l i c a t i o n .

Very t r u l y yours ,

(Signed) Chester M o r r i l l

Chester M o r r i l l , Secretary#

I n c l o s u r e .

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

C O P Y X-7642-b

October 6, 1933.

Mr. Federa l Reserve Agent, Federa l Reserve Bank of

Dear Mr.

Mr* , counsel a t f o r t h e 9

has submit ted t h e r e q u e s t of the c o r p o r a t i o n f o r permiss ion t o sub-

mit t h e copies of r e p o r t s of examinations c a l l e d f o r as Exh ib i t s I

and J t o accompany a p p l i c a t i o n s f o r v o t i n g permi ts as p h o t o s t a t

copies on paper s i x inches by n ine inches , i n s t e a d of on paper e i g h t

inches by t e n and one-half i nches .

p r a c t i c a b l e , a l l e x h i b i t s should be f u r n i s h e d on s h e e t s of t h e same

s i z e as the pages of the a p p l i c a t i o n form. Such r e q u e s t , however,

was not meant t o apply t o r e p o r t s of examinat ion, as i t was contem-

p l a t e d t h a t a c t u a l copies of such r e p o r t s would be submi t t ed .

as a sample i s l e g i b l e , i t i s ques t ionable whether o the r pages of t h e

r e p o r t con ta in ing more p r i n t e d mat ter and f i g u r e s more c l o s e l y spaced

could be read wi thou t e f f o r t . Inasmuch as t h e s e e x h i b i t s must be

reviewed by your o f f i c e , i t i s suggested t h a t you d i s c u s s t h e ma t t e r

e x h i b i t s as submit ted w i l l be f u l l y l e g i b l e . I t i s not t h e d e s i r e

t o impose any unnecessary expense upon an a p p l i c a n t i n t h e p r e p a r a -

t i o n of t h e s e e x h i b i t s , bu t i t i s e s s e n t i a l , of course , t h a t a l l

The n o t a t i o n on F.R.B. Form P - l s t a t e s t h a t i n so f a r as

While t h e reduced p h o t o s t a t form submit ted by Mr.

wi th t h e o f f i c i a l s of the and s a t i s f y yourse l f t h a t t he

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

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: 3

e x h i b i t s submit ted be f u l l y l e g i b l e and i n a form which can be read

wi thout undue s t r a i n .

Very t r u l y yours ,

(Signed) Chester M o r r i l l

Chester M o r r i l l , S e c r e t a r y .

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis