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FEDERAL RESERVE BOARD STATEMENT FOR TEE PRESS X-371S For immediate r e l e a s e . A r e g u l a r s t a t u t o r y meeting of the F e d e r a l Advisory Council was held on May 21st and 22nd, a t which g e n e r a l b u s i n e s s c o n d i t i o n s of t l u country ware reviewed and r e p o r t s from a l l q u a r t e r s were s a t i s f a c t o r y and i n d i c a t e d t h a t b u s i n e s s i s p r o g r e s s i n g c o n s e r v a t i v e l y and on a sound b a o i s . The Advisory Council i i s j u s s e a the m a t t e r of d i s c o u n t r a t e s and was of the opinion t h a t t h e r e appeared to be no reason why F e d e r a l Reserve Bank r a t e s should be i n c r e a s e d a t t h i s time. Hay 22, 1923.
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