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1247 A meeting of the Board of Governors of the Federal Reserve SYsteill was held in Washington on Wednesday, August 28, 1946, at 10:30 a. PRESENT: Mr. Draper, Chairman pro tern Mr. Evans Mr. Carpenter, Secretary Mr. Thurston, Assistant to the Chairman Mr. Vardaman was absent on vacation. The action stated with respect to each of the matters hereinafter aet forth was taken by the Board: Telegram to Mr. Stewart, Secretary of the Federal Reserve Bank of St. Louis, stating that the Board approves for the Bank, effective Allgust 29, 1946, a minimum buying rate of one per cent on bankers' acceptances for all maturities, and the establishment by the Bank, 17ithout change, of other rates of discount and purchase in its existing achedule. Approved unanimously. Letter to Mr. Rounds, First Vice President of the Federal Reserve aarlic of New York, reading as follows: "This is to acknowledge receipt of your letter of August 15 to Mr. Szymczak regarding Mr. Temagna's work in China. We have noted the extension of Mr. Tamagna's leave to the middle °It November to enable him to complete his work with the Central ,1 ank of China, and his plans to return to New York via India, Rome, and London." 1 Approved unanimously. Memorandum dated August 27, 1946, from Mr. Bethea, Director of the Dim . 83-011. of Administrative Services, recommending, for the reasons stated ' 1248 8/28/46 therein, -2that the Board authorize that Division to operate a reserva- tion service in its Procurement Section on the expended basis outlined in the memorandum and that the Board increase the existing Office PettY Cash Fund from $50 to .000. Approved unanimously. Thereupon the meeting adjourned. Secretary. Approved: Chairman pro tern
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