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A meeting of the Executive Committee of the Federal Reserve Board was held in the office of the Federal Reserve Board on Wednesday, April 3, 1924, at 11:05 a.m. PRESENT: Vice Governor Platt Mr. Hamlin Mr. Miller Mr, Eddy, Secretary Mr. Miller stated that Governor Crissinger had telephoned him from trew York that the directors of that bank had voted, subject to the approval Of the Board, to reduce the rediscount rate of the bank from per cent buyto 4 Per cent on paper of all classes and maturities and the minimum rate for bankers acceptances of all maturities to *per cent, and that the reduction v.ould be announced in New York at 3:00 o'clock dayliciht savings time, Mr. Hamlin moved that the Board approve the action of the directors of the Federal Reserve Bank in reducing the rediscount rate and the minimum rate on bankers acceptances. Carried. Upon motion, the Secretary was instructe to advise all of the Federal Reserve banks of this actio and to give out a statement to press at 2:00 o'clock St n rd Eastern Time. The meeting adjourned at 11: clock. IkiL Secretary. 1 PrOved: 4) Vice-Governor.
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