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H G 1 C ' 3 F E D E R A L R E S E R V E B A N K O F S T. L O U IS S t . L o u is 2 , M i s s o u r i December 31, 1951 REGULATION W C o n su m e r C redit FLOOR OR WALL FURNACES The Board of Governors of the Federal Reserve System has issued the following interpretation concerning floor or wall furnaces: “The Board has expressed the view th a t a floor or wall furnace which transm its heat to a room from a recess in which the furnace is located and which is installed as a perm anent part of the realty, is not a space heater, even though the heat is not transm itted by means of pipes or ducts. The reference to ‘space heaters’ in the interpretation published a t p. 1310 of the 1950 Federal Reserve Bulletin and 15 Federal Register 6630, October 3, 1950 does not include such furnaces. Accordingly, when sold for installation in an existing residential building, a floor or wall furnace as described herein constitutes a listed article under Group D, P art 1, of the Supplem ent to the regulation.” Additional copies of this circular may be obtained from this bank or from any of our branches which are located in Little Rock, Arkansas; Louisville, Kentucky; and Memphis, Tennessee. FED ER A L RESERVE BANK OF ST. LOUIS Regulation IF Department
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