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FEDERAL RESERVE BANK OF DALLAS Circular No. 8 Series of 1934 Dallas, Texas, July 18,1934 To All Banks, Trust Companies and Other Financial Institutions in the Eleventh Federal Reserve District: Under date of July 14 we issued a circular with regard to a recent amendment to the Federal Reserve Act that permits Federal Reserve banks to make loans to provide work ing capital for established industrial or commercial businesses and enclosed a copy of Regulation S issued by the Federal Reserve Board in connection therewith. The Act as amended provides for the appointment in each Federal Reserve district of an advisory committee of five members to consider all applications for loans that are submitted to the bank before such loans are finally acted upon. The following have been appointed as members of the Industrial Advisory Committee for the Eleventh Federal Reserve District: Lewis R. Ferguson of Dallas, Texas Vice-President and General Manager, Lone Star Cement Company. Will B. Marsh of Dallas, Texas President, Chronister Lumber Co. Charles R. Moore of Dallas, Texas President, Austin Bridge Co. Clarence Ousley of Fort Worth, Texas President, Globe Laboratories T. M. Cullum of D allas, Texas It is our belief that there are businesses in this district in need of additional working capital which are in such a position that advances for that purpose can be properly made. We are now prepared to receive and consider applications and it is our desire to be of assistance to deserving businesses and to facilitate action upon applications for loans of this character in every way possible. Yours very truly, B. A. McKinney, Governor. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)