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FEDERAL RESERVE BOARD STATEMENT FOR THE PRESS For Immediate Release. 4:30 o ' c l o c k . p . m . , J u l y 1|), 1924. X-4114 The Federal Reserve Board announces t h a t t h e Federal Reserve Bank of Dallas has reduced i t s rediscount r a t e froip 4g^ t o 4£ on a l l c l a s s e s of paper of a l l mat u r i t i e s , e f f e c t i v e immediately.