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152 Upon call of the Governor, a meeting of the Federal Reserve Board was held in the office of the Governor on Wednesday, February 13, 1929, at 3:30 p.m. PRESENT: Governor Young Yr. Platt Yr. Hamlin M. Miller Mr. Pole Mr. Eddy, Secretary Yr. McClelland, Asst. Secretary • For the convenience of the members of the Board and the Federal Advisory e°11ncil at their meeting on Friday, the Secretary was requested to make arrange0 secure the conference room in the Washington Hotel which has been used bY the Board on other occasions. The Governor stated that he was advised over the telephone by the Gov0f the Federal Reserve Bank of New York that advice has been received tr151s the ship some Reichsbank that it will be necessary for that institution to 15, to this the gold is country. The Reichsbank also requested that, if while trA -nsit it should find it necessary to support its exchange, the Federal Resel've Bank -- assist it for a few days by making an advance on the gold in transit. the The Governor also stated that he was advised by the Governor of 41 Reserve Bank of Boston that no action will be taken by that bank this ' e4k toward an increase in rates. He stated that the Federal Reserve Bank is 17 receiving satisfactory cooperation in handling the situation in its ' -, (listriet from the member banks to which Governor Harding transmitted the circular , letter which he sent the Board. Mr. Miller then referred to Senate vl'art of esolution 323 and read a rough other a proposed reply thereto, on which he requested comment by the Nakbe rs of the Board. r, . 0 _.“ ) -2- After discussion, it was understood that lIr. Liller would revise the proposed reply and submit it formally to the Board at a later meeting. he Governor then stated that the Director of the Division of Research and atatiatiu_ ill submit draft of the Board's Annual Report for 1928 in typewill Written form tomorrow, and at his suggestion it was voted to authorize Dr. Galdellweiser to send the draft of the report to the pr while it is under consideration by the members of the ter for galley proof oard. The meeting adjourned at 5:10 p.m. Secretary. 4131:Toyed.:
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