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279 Upon call of the Governor a sp3cia1.meeting of the Federal Reserve Board was hold in the office of the Board on Monday, March 22, 1926, at 10:45 a.m. Governor Crissinger Mr. Hamlin Mr. Miller Mr. James . Cunningham Mr. Eddy, Secretary Mr. McClelland., Asst. Secretary The reading of the minutes of the meeting of the Federal Reserve Board held 011March 18th was dispensed with. Letter dated March 20th from Honorable 'Newton D. Ba-...cer, acirnowledging the Board's today invitation to appear before the Governors' Conference beginning for the puroose of' discussing the decision in the Grimm-Alfalfa Seed G.rowers Association case; Mr. Baker stating that he has arranged to be in '..esiiington on Tuesday. No ted. Letter dated March 19th from the Clerk of the Committee on Banking (1 Currency of the House of R . epresentatives, requesting Mr. Miller and "her members of the Board to attend a meeting of the Committee to be held °11 .:leanesday to consider H. R. 7895 to amend Paragraph (d) of Section 14 or the Federal Reserve Act, as amended, to read as follows: "To establish from time to time, subject to review and determination of the Federal Reserve Board, a minimum rate of discount to be charged by such banks for each class of paper, which shall be made with a view to accommodating commel.e and promoting a stable price level for commodities in general. All of the powers of the Federal Reserve System .:vel." shall be used for promoting stability in the price 1Informal discussion was had with respect to the bill and. the Governor was requested to communicate with the 280 3/22/26 -2- Chairman of the Committee with a view of determining and reporting to the Board. whether others than members of the Board and. Mr. George Shibley, mentioned in the Clerk's letter, were to appear at the meeting. The Governor stated that the meeting had been called primarily for the Purpose of passing finally upon the draft of the Board's Annual Report e""ing operations for the year 1925, galley proof copies of mhich had beet. distributed among the members. After discussion, during vhich several minor changes were suggested, Mr. Hamlin moved approval of the publication of the report as amended. Mr. Hamlin's motion being put by the Chair was unanimously carried.. is The meeting adjourned at 12:10 p.m. PPrOved:
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