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R31 meeting of the Executive Committee of the Federal Reserve Board was lisici in the office of the Federal Reserve Board on Friday, April 20, 1928 at 2:45 pone 2LZ2,3ENT: Mr. Miller Hamlin 1.*.r. James Mr. Noell, Lssistant Secretary Li'. McClelland, Assistant Secretary Mr. Miller stated that no quorum of the Board being present he had 811ggested a meeting of the Executive Committee for the purpose of present114 teleRraM just received from the Chairman of the Federal Reserve Bank St• Louis, advising that the Executive Committee of the bank, under 81411°1 ' 4Y of the board of directors, today voted to establish a rediscount 1146 °f 4 1/2 : 4 on all classes of paper of all maturities, effective the firt , 8 blIsiness day following that on which approved by the Federal Reserve .40411. After a brief discussion, Yr. James moved that the telegram from the Chairman of the St. Louis Bank be made special order of business for a meeting to be held tomorrow. Carried. hO Meeting adjourned at 3:00 p.m. Assistant Secretary. 44royea: Chairman, pro tern
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