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FEDERAL RESERVE BOARD WASHINGTON x-Uo4g* ADDRESS OFFICIAL CORRESPONDENCE TO THE FEDERAL RESERVE BOARD May 7i 192% SUBJECT: Report of Committees of Experts to Reparation Commission. Dear S i r : By d i r e c t i o n of the f e d e r a l Reserve Board, I am t r a n s m i t t i n g herewith a copy of t h e complete o f f i c i a l English t e x t , with annexes, of t h e Report of Committees of Experts to Reparation Commission. Very t r u l y y o u r s , J . C. Noell, Assistant Secretary. TO DIRECTORS, CHAIRMEN AND GOVERNORS OF ALL F.R. BANES, AND DIRECTORS OF ALL BRANCHES. FEDERAL RESERVE BOARD WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE T O T H E FEDERAL RESERVE BOARD X-4051a May 9, 1924. SUBJECT: Regulation "J", Series of 1924, Dear S i r : The Federal Reserve Board has adopted the enclosed Regulation "J", Series of":.l'92U, which supersedes i t s Regulation "J" of 192c. This Regulation i s e f f e c t i v e immediately, and you are requested to prepare and send copies to a l l of your member and clearing non-member banks. Yours very t r u l y , Edmund P i a t t , Vice Governor. To Governors of a l l F. R. Banks Copies t o Agents.