FEDERAL RESERVE SYSTEM. DISTRICT GOVERNORS OF FEDERAL RESERVE: E. R. FRANCHER, CLEVELAND, DIST. 4; GEORGE J. SEAY, RICHMOND, DIST. 5; JOSEPH A. McCORD, ATLANTA, DIST. 6; THEODORE WOLD, MINNEAPOLIS, DIST. 9; CHARLES M. SAWYER, TOPEKA, DIST. 10. BACK ROW: CHARLES J. RHOADS, PHILADELPHIA, DIST. 3; OSCAR WELLS, HOUSTON, DIST. 11; ALFRED L. AIKEN, BOSTON, DIST. 1; BENJAMIN STRONG, NEW YORK, DIST. 2; ARCHIBALD KAINS, SAN FRANCISCO, DIST. 12