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1245 At a meeting of the Executive Committee of the Federal Reserve Board held in the office of the Board on Friday, December 10, at 11:00 a. n., PRESENT: Mr. Hamlin, presiding Yr. qTarburP; Mr. Williams Mr. 7Tillis, ,;ecretary. On motion applications for Federal reserve notes, duly recommended, were approved as fellows: Federal Reserve Bank of Chicano, ::%1,000,000, as follows: 5 denominations 10 20 50 (160,000 200,000 240,000 400,000 Federal Reserve Rank of Atlanta for shiment to New Orleans Branch, V300,000, as follows: denominations 10 240,000 The Secretary of the Board presented the usual weekly discount rate notices. On motion the rate of 2'1'; for ten day maturities named by the 2ederal Reserve Bank of Ohicao was approved and the Secretary authorized to notify 4 the 17'ederal oserve banks. The question how to deal with the surplus • of the funds on hand at the close of the year resulting from the last assessment on Federal reserve banks was discussed. No action taken. On motion the Secretary of the Board is directed to f•orinunilate with the Chairmn of the Governors' Ilxecutive Committee, suFzestinL; that he defer the meeting of the Emecutive Committee scheduled for December 14 - 16, because the Board would not he in rosition to discuss the clearance question at that time. On motion the Jecretary of the Board was directed to increase the permitted amount of the Vermont State loan to be rurchased by the Federal Reserve Bank of Boston by 0100,000, makiiv; .300,000, in all. On motion at 11:20 a. m., the Committee adjourned. Secretary.
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