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78 At a regular meeting of the Federal Reserve Board held in the office of the Board at 11.00 a. m., on Friday, January 29, PRESENT: Er. Hamlin, presiding, Er. Warburg Ur. Delano Er. Harding Er. Williams Mr. Eiller Er. Willis, Secretary. The reading of the minutes was dispensed with. A draft of a circular relating to acceptances, which had been made a special order for the day, was taken up and given further consideration. No final action was taken. On motion, rates of discount proposed by the Federal - Reserve Bank of St. Louis were approved, as follows:• For maturities up to 60 days, 11; for maturities from 60 to 90 days 4; for maturities over 90 days 5L1;. A draft of Jircular 49 relating to the increase and decrease of capital stock of Federal reserve banks was approved. The secretary of the Board presented a letter from Federal Reserve Agent Martin relating to the question of redistricting, and indicating willingness to accept as 79 members of the Federal Reserve Bank of St. Louis certain banks which are applying for a transfer from District No. 6. The Secretary of the Board called attention to the fact that on Londay, February 1 formal action will b IOW quired on changes in the by-laws of the Board providing for the appointment of a regular disbursing officer. Informal consideration was given to the selection of a suitable officer and the establishment of his salary. On motion at 1.00 p. in. the Board adjourned to meet at 11,00 a. in, on Londay, February 1. Secretary. APPROVED:
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