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X-7450 FEDERAL RESERVE BOARD STATEMENT FOR THE PRESS F o r - r e l e a s e a t 2:00 P . M» June 7, 1933. The Federal Reserve Board announces t h a t t h e Federal Reserve Bank of P h i l a d e l p h i a has e s t a b l i s h e d a r e d i s c o u n t r a t e of 3%, e f f e c t i v e June 8, 1933. x