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94.4 Lt a special mooting of the federal Eeserve Board held in the office of the Board on Monday, December 15th, at 11-30 A.M., 21-11ITT: The Mr. 1.1r. Mr. Mr. Governor L;trauss Miller Hamlin Chapman, 3ecretary. Business was presented and disposed of as fellows; The Governor stated that Chairman ilustin of the Federal ,eserve Bank of Philadelphia had advised him in response to his telegram of December 13th, suggestinb the establishment of certain discount rates, that the meeting of the Board of Directors of that Bank would be held on Thursda next; that the be called Governor had succested to Mr. Austin that the meeting for Tuesday, December 16th, to which Mr. ,lustin had agreed. The Governor stated that subsequently, Governor Passmore had retelephoned him, stating that while the Bank was expecting 0U, the Bank quests for rediscounts amounting to some 460,000,0 had the situation well in hand and did not believe it necessary to increase the rates prior to the meeting of the Bank's Board on the 10th instant. On motion duly seconded, the Governer was authorized to instruct the Chairman of the Federal Leserve Bank of Philadelphia to call special meeting of the Board of Directors of that Bank to be held in Philadelphia on Tuesday, December 16th, for the purpose of considering the Board's 945 -2suggestions in re discount rates. At 1-30 the meetinG adjourned. Secretar. Approved:
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