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At a regular meeting of the Federal Reserve Board, held in the office of the Board on Friday, January 8 at 11.00 a. in. PRESENT: Mr. Hamlin, presiding, Mr. Warburg Mr. Delano Er. Harding Mr. Williams Er. Miller Er. Willis, Secretary. The minutes of several preceding meetings were read and approved. The Governor announced that he had informed the press after consultation with the British Ambassador, of the final termination of the negotiations with Great Britain regarding the international indebtedness of the United States. WoriCon the draft of the annual report to Congress was resumed and continued until 1.00 p. in. A letter from Governor Rhoads of the Federal Reserve Bank of Philadelphia was taken up for consideration and questions regarding the payment of the second and third installments of capital stock were determined, the Jecretary being directed to send a suitable reply subject to approval of Counsel, the same to be transmitted to all 2ederal Reserve agents. On motion, at 1.10 p. m. the Board adjourned to meet at 3.00 p. in. this day.
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