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X-8039 Ruling Ho. 4 . TELEGRAM FEDERAL RESERVE BOARD WASHINGTON October 2, 1934 CURTISS BOSTON WILLIAMS CLEVELAND STEVENS CHICAGO McCLURE KANSAS CITY CASE NW Y R E OK HOXTON RICHMOND WO OD ST. LOUIS WALSH DALLAS AUSTIN PHILADELPHIA NWO E TN ATLANTA PEYTON MINIxTEAPOLIS SARGENT SAN FRANCISCO Trans. No. 2103 In response to an inquiry as to a p p l i c a b i l i t y of s e c t i o n 4 ( e ) of Board's Regulation T i n l i g h t of word "additional" preceding word "margin" i n f i r s t sentence, Board has r e p l i e d that the subsection r e f e r s to a l l margin which mast be demanded i n order to comply with Regulation T. (Signed) L. P. Bethea BETHEA
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