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134 At a regular meeting of the Federal Reserve Board held in the office of the Board at 3.15 p. in. on Thursday, February 18, PRESENT: Mr.. Hamlin, presiding, Mr. Warburg Mr. Delano Mr. Harding Er. Williams Mr. Miller Er. Willis, Secretary. The minutes of the two meetings of Wednesday, February 17th, were read and approved. Rates of discount for ACIOEPTANCES were approved as follows: Federal Reserve Bank of Boston 2% to Federal Reserve Bank of Philadelphia 2% to 4% Rates of discount for 00LLE2CIAL PAPER were approved as follows: Federal Reserve Bank of RIMOND, Maturities up to 90 days 472 Maturities over 90 days and under six months. 5;; The Board considered the question of making public rates on acceptances when established and approved, and determined paper. folloa the sane plan as with rates on commercial 135 A telegram from the Federal Res)rve Bank of Boston making application for permission to purchase the whole of a loan issued by the city of Barre, Vermont, was referred to r. ;!arburg for /Wort and on his recomr.iendation it was voted to transmit a telegram suggesting the endorsement of a member bank or else adherence to the usual restrictions regarding such A letter having been received from warrants. r. William, L03. ::artin relative to a complaint of the action of the Federal Reserve Bank f 3t. Louis as to applications for rediscounts made by the First :ational Bank of I:orrilton, Arkansas, the 3ecretary was directed to request L.r. to send comPlete data with reference to the natter. The revised draft of the proposed circular on clearance was taken up, completed and tentatively approved. On motion it was voted to send a copy to each Federal Reserve Agent aith a request for suggestions and comment. Mr. Hamlin requested the entering of a minute to the effect that counsel had informally expressed the opinion that there is no legal objection to the plan as now proposed. On motion at .5.30 p. m. the, Board adjourned to meet at 11.00 a. m. on Friday, February 19. 3ecretary. APDROVM: 3hairman.
@FedFRASER