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COYFERNCE INFORMAL 22, 1923) June (Friday, normal conference was held in the Board Room this morning at 11:00 tc Gpverner Crissinger Mr. Hamlin Mr. Miller Mr. James Mr. Cunningham Mr. Dawes Yr. Hoyton, Secretary ed The Secretary of the Treasury entered the room and informally emoress his views with respect to conditions in the country, and with respect to discount rates. The labors discussed at length the revision of the By-laws, and the Secretary undertook the preparation of a draft of the By-laws providin7 for the PrePcsed emen ment. The Members ae;reed to the su-gestion of Mr. Famlin that e°44sel be authorized to have his tenttive dreft of the revised reFulatione a eae proof. P11-21ted, it I eing noted that each Member would receive ay, namely, Matter referred to the ixecutivo Committee with power yesterd with reference to letter Of June 16th from the Federal Reserve ,"..feent at Dallas, covering discount or the r0P:uleti0n5 vthieh the Board may intend to promulate 1)11rchzise of sight and demand drafts. The Members agreed to a reply to :"r. Talley ry. 4tecl Juno -2nd, prepared by Counsel for the signature of the Secreta The authorized to transmit to the governors also agreed that the Secretary be or purchase of r X-3753, subject, "Discount ot*11 Federal Reserve banks, Circula Inert "w:LI regulations". iOlt and demand drafts pending issuance of at one o'clock. The meetirc adjourned SeCretary.
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