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A meeting of the executive committee of the Federal Open Market Committee was held in the offices of the Board of Governors of the Fed eral Reserve System in Washington on Saturday, September 11, 1937, at 10:10 a. m. PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Harrison, Vice Chairman Broderick McKee Sinclair Messrs. Ransom, Davis, Szymczak, McKinney Martin and Day, Members of the Federal Open Market Committee Mr. Mr. Mr. Mr. Mr. Mr. Morrill, Secretary Wyatt, General Counsel Goldenweiser, Economist Williams, Associate Economist Dreibelbis, Assistant General Counsel Burgess, Manager of the System Open Market Account Mr. Carpenter, Assistant Secretary of the Board of Governors of the Federal Reserve System Mr. Thurston, Special Assistant to the Chairman of the Board of Governors of the Federal Reserve System Upon motion duly made and seconded, and by unanimous vote, the minutes of the meeting of the executive committee held on September 4, 1937, were approved. Mr. Burgess outlined the transactions which had taken place in the System open market account since the meeting of the executive com mittee on September 4, 1937. Upon motion duly made and seconded, and by unanimous vote, the transactions in the account since the period covered by similar action taken by the executive committee at its meeting on Sep tember 4, 1937, up to and including September 10, 19,7, were approved, ratified and confirmed. 9/11/37 Thereupon the meeting recessed to reconvene following the meeting of the Federal Open Market Committee. Secret ary. Approved: Chairman.
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