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280

S-519

TELEGR.Al>A

June 29, 1942

(Addre:Jsed to the Pre.sidcnts of all Federal Reserve
Banks)

The phrace

11

residential building 11 in section

8(a) of Regulation W does not include a houseboat or a
trailer, althoueh there may be unusual cases where it
would apply as, for

eYarnple, where
...

the wheels have been

taken off the trailer and it has been attached to a per-ma.nent foundation.




L. P. Bethea