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23

At a regular meeting of the Federal Reserve Board
held in the office of the Board on Monday, January hat
11.00 a. in.
PRESENT:
Er. Hamlin, presiding,

Mr. Warburg

Er. Delano

Mr. Harding

La% Williams

Mr. Miller

Er. Willis, Secretary.
The minutes of the preceding meetings were dispensed with, and the Board devoted the session to informal
consideration and correction of the annual report to Congress.
By unanimous consent the Secretary was directed
to make the revision of existing rules on commercial paper
the first order of business for the meeting of Tuesday,
January 12.
On motion, at 1.10 p. in. the Board adjourned.

Secretary.

APPROVED:




Chairman.