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Upon call of the Governor a special meting of the Board was held In the office of the Governor on 21]ursday, July 5th, at 4:00 p.m. PRE5aTT: Governor Crissinger Mr. Platt Mr. Hamlin Mr. Dawes Mr. Hoxton, Seoretary. Zhe Governor referred to the aotion of the Board taken on June 26th and June 29th, whereby amendments to the Board's Regulation "J" were adopted and expressed the opinion that the words "'Not to exceed one-tenth of one percent" in paragraph "7" were ambiguous and not satisfactory. By unanimous consent, action upon the amendments to Regulation "J" was reconsidered. Thereupon, upon motion duly made and unanimously carried, Paragraph "7" of the said amendment to Regulation "J" was modified to read as follows: "Whenever a ?ederal Reserve Bank receives on deposit or for collection a check drawn by, endorsed by or emanating from any non-member bank which refuses to remit at par In acceptable funds, it shall make a charge, for the service of collecting such check, of one-tenth of one percent, the minimum Charge to be ten cents for each item". At 4:15 P.M., the meeting upon motion, adjourned. Sec retry. APProved: •
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