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FEDERAL RESERVE .BOAW STATEMENT FOR THE PRESS For Immediate Release X-U0Q5 June IS, 1S?M. 4:30 o'clock p» nu The Federal Reserve Board, announces that the Federal Reserve Bank of St. Louis has reduced i t s rediscount rate from 4g per cent to 4 per cent on a l l c l a s s e s of paper of a l l maturities, e f f e c t i v e June 19, 1924.