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X-6658 FEDERAL RESERVE BOARD STATEMENT FOR THE PRESS For r e l e a s e a t 3:00 P.M. J u l y 17, 1930. The Federal Reserve Board announces t h a t the Federal Reserve Bank of Richmond has e s t a b l i s h e d a rediscount r a t e of 3 - l / 2 $ on a l l c l a s s e s of paper of a l l m a t u r i t i e s , e f f e c t i v e J u l y IS, 1930.