Governor Young
Roy Archibald Young, for eight years governor of the Minneapolis Federal Reserve Bank, in Washington last week held up his right hand before the Chief Clerk of the U. S. Department of the Treasury, F. G. Birgfeld. Chief Clerk Birgfeld held up his right hand. Secretary Mellon watched and heard Mr. Young take oath as a member of the Federal Reserve Board. At once Member Young received President Coolidge's designation as Governor of the Board. The purpose for which he resigned his Minneapolis governorship (TIME, Oct. 3) thus was consummated.
*Exceeded by Manhattan's National City, Chase National, Guaranty Trust, American Exchange Irving Trust and National Bank of Commerce.
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