Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, July 25, 1952, Volume 39, Part 3

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132

Minutes of actions taken by the Board of Governors of the
Federal Reserve System on Friday, July 25, 1952.
PRESENT:

Mr. Martin, Chairman
Mr. Szymczak
Mr. Mills
Mr. Carpenter, Secretary
Mr. Kenyon, Assistant Secretary

Telegrams to the Federal Reserve Banks of Boston, New
York, Philadelphia, Cleveland, Richmond, Chicago, St. Louis,
MinneaPolis, Kansas City, Dallas, and San Francisco stating
that the Board approves the establishment without change by the
Federal Reserve Banks of Boston and Kansas City on July 21, by the
Federal Reserve Banks of St. Louis and San Francisco on July 22,
and by the Federal Reserve Banks of New York, Philadelphia,
Cleveland, Richmond, Chicago, Minneapolis, and Dallas on July 24,
952, of the rates of discount and purchase in their existing
schedules.
Approved unanimously.
Telegram to the Presidents of all Federal Reserve Banks,
reading as follows:
"Board establishes under authority of fourth paragraph of Section 16 of Federal Reserve Act rate of (1)
Per cent per annum interest for preceding three calendar
enths on $ (2) daily average of outstanding Federal
Reserve notes of your Bank in excess of gold certificates
Pledged with Agent as collateral security. Interest payment of $ (3) should be credited to Treasurer's General
Account, as Miscellaneous Receipts, Symbol 1841-Interest
1952Col1ected Section 16 Federal Reserve Act, on July 29,
.
1




1321

7/25/52
"Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco




-2(1)
1.76

5.47
1.72
1.92
1.55
1,84
1.74
1.92
1.85
2.62
3.30

(2)
$1,128,301,029
1,201,116,202

110281335,495
1,510,236,587
1,227,929,779
901,1016,867
2,029,999,302
897,391,105
471,599,119
714,285,400
500,555,938
799,207,634

Approved unanimously.

(3)
$4,9501923.09
16,380,263.34
4,409,727.99
7,229,274097
4,745,191.65
4,180,243.75
100750243.01
31892,956.37
2,257,473.92
312941519.10
31269,658.81
615752398.70"