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74 At a regular meeting of the Federal Reserve Board held in the office of the Board at 11.00 a. m. Thursday, January 28, PRESENT: Er. Hamlin, presiding Mr. Warburg Er. Delano Er. Harding Er. Williams Er. Eiller Mr. Willis, Secretary. The minutes of the preceding meeting were read and approved. On motion, the following applications for the issue of Federal reserve notes, duly recommended by the appropriate committee, were approved: Federal Reserve Bank of Richmond ,200,000 in 50's; Federal Reserve Bank of Atlanta ,)200,000 in 50's. Application of the Federal Reserve Bank of Kansas City for the establishment of rates of rediscount was approved, as follows: Maturities up to 60 days, 4; maturities 60 to 90 0; days 4L,4 maturities over 90 days A telegram fram Federal Reserve Agent Wills asking whether member banks could use excess reserves already deposited for the payment of their capital stock, was presented 75 to the Board and it was the sense of the Board that such payment could,be, made, but that in every case the effort should be made to try to get additional deposits in actual gold. On motion, consideration of the circular relating to a300ptances was begun and continued throughout theremainder of the meeting. On motion, at 1.15 p. in. the Board adjourned to meet at 3.00 p. in. Secretary. APPROVTO: Jhairman.
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