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At a meeting of the Executive Committee of the Federal aeserve Board held in the office of the Governor of the Bourd on liaturday, Lay 12, at 10.15 a.m., PaLSE:?: Governor Harding, presiding, 1,1r. Delano, .,ssistant secretary. ar. .;arburg, There was discussion of the amendments to the Federal Reserve itct as agreed by the Senate and Tiouse, f., nd the steps to be taken by the Board in connection LI ith the conference between the two Houses. On motion of Delano, the time for patting into effect the proposed exchange drafts between Federal Reserve Banks was extended from ::ay 21 to Jane 1. 4,t 10.5J a.m. the meeting adjourned. Secretary. /dTAOVLD: Chairman.