The Nezperce herald. (Nezperce, Idaho) 1900-1957, 1914-01-01

eenkam upon such deficiency until the
reserves fan 20 S21S per centum. aud
when said reserve falls below SEA
per centum. a tax at the rate incEeas-
ingly OF act less than lIa per centum
upon each 21s per eenEum or fraction
thereof that such reserve falls below
S2sk per centum. The tax shall be paid
hy the reserve bank. but the reserve
bank shall add an amount equal to
said tax TO the rates OF interest and
discount fixed by the federal reserve
board
I'D To supervise and regulate through
the bureau under the charge OF ths
comptroller OF the currency the issue
and retirement Of federal reserve
notes. and TO prescribe rules and regu-
lations under which such notes may
be delivered by the comptroller 60 the
federal reserve agents applying there
for.
(e) To add TO the number OF cities
classified as reserve and central re-
serve cities under existing law in
which national banking associations
are subject 10 the reserve require
ments set forth In section 20 Of this
act. or to reclassify existing reserve
and central reserve cities or TO terni-
nate their designation as such.
20 To suspend or remove any officer
or director OF any federal reserve
bank, the cause OF such removal TO be
forthwith communicated tn writing by
the federal reserve board to the TO
moved officer or director and 70 said
bank
(g1 To require the writing or Of
doubtful or worthless assets upon the
books and balance sheets OF federal
reserve banks.
(hl To suspend. for the violation OF
any OF the provisions OF this act. the
operations OF any federal deserve
bank. % take possession thereof. adj
minister the same during the period OF
suspension and when deemed advisa-
BILE to Iiquidate or reorganlze such
bank
a To require bonds OF federal re-
serve agents, TO make regulations for
the safeguarding OF all collateral.
bonds. federal reserve notes. money or
property Of amy kind deposited In the
hands Of such agents. and said board
shall perform the duties. functions or
services specified In this act and 10
make all rules and regulations neces
sary to enable said board effectively
to perform the same
ID To exercise general supervision
over said federal reserve bHnks-
Ck) To grant by special peFnalt 10 ma
tional banks applying therefos, when
not In contra vention OF state OF local
law, the right to act as trustee. ex-
ecutor. administrator or registrar of
stocks and bonds under such rules and
regulations as the said board may pre-
scribe.
q To employ such attorneys, ex-
perts. assistants. clerks or other EN-
ployees as may be deemed necessary
to properly conduct the business OF
the board All salaries and fees shall
be fixed In advance by said board and
shall be paid In the same manner as
the salaries OF the members Of said
board. All such attorneys. experts.
assistants. clerks and other employees
shall be appointed without regard 20
the provisions Of the act Of Jan. 10. |.
1883 (volume %. United States stat
utes at large. page 4O3l and amend
ments thereto or any rule or regulation |
made In pursuance thereof
Section IL creates e federal advisory |
consisting Of one member
from each federal reserve district.
which IS empowered to confer with
The federal reserve board and make
regarding the business
II the board