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a meeting o the Executive Jammittee of the ?ed.- • eral Reserve Board held in the office. of the Vice lovernor on Thursday, Jane 7, r.t 5.30 p.m., PliES=T: Mr. Thrburg, Yr. Miller, Mr. Delano, Mr. Secretary. Mr. !- ;arburg read to the Committee a draft of a letter to governor Strong with reference to the question of counting ,;old held abroad as reserve for ?ederal reserve banks. Discussion ensued, and it via c finally agreed to authorize the transmission of the letter upon condition that such gold held abroad to be counted as reserve, should never exceed 450,000,000, or 10, of the total gold holdings f participating 7ederal reserve bunks, whichever amount u.‘.should be the larger, and, further, that the fact of this gold holding should be shown on the statements of Aderal reserve banks. It was agreed to telegraph the substance of the letter to Secretary McJ'idoo and governor 7arding for their approval before transmitting it. On motion at 6 p.m. the Committee adjourned. ;i.2POVLD: Secretary. -"ftwomm.-Chairman.
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