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X-6404

I E S E E AL

RESERVE

BOARD

STATEMENT FOR THE PRESS

For immediate release:

October 31, 1929.

The Federal Reserve Board announces that
the Federal Reserve Bank of Hew York has established a r e d i s count r a t e of 5 per cent on a l l classes of paper of a l l
maturities, effective November 1, 1929.