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I)2 Minutes of actions taken by the Board of Governors of the Federal Reserve System on Tuesday, November 18, 1947. PRESENT: Mr. Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Szymczak Draper Evans Vardaman Clayton Mr. Mr. Mr. Mr. Carpenter, Secretary Sherman, Assistant Secretary Morrill, Special Adviser Thurston, Assistant to the Chairman Minutes of actions taken by the Board of Governors of the Federal Reserve System on November 17, 1947, were approved unani— 1°usly-, Telegram to Mr. Willett, First Vice President of the Fed— e 1 Reserve Bank of Boston, reading as follows: "Retel Nove!lber 14, 1947, Board approves the des; -Lgnation of Loring C. Nye as special assistant eXaminer for the Federal Reserve Bank of Boston." Approved unanimously. Telegram to Mr. McCravey, Secretary of the Federal Reserve ' of Atlanta reading as follows: "Referring your November 14 wire regarding dis— , e°unt under Section 13b of participation certificates Fulton National Bank, understand from conversation aclith Mr. Bowman that participation certificates under vances to peanut buyers and processors will be pvr— cha sed by Federal from Fulton National and that Fulton Nati°nal c. will agree to repurchase upon demand. Under 11scumstances Board approves for your Bank rate of one , Per cent on purchases of such certificates. In order 1593 11/18/47 —2-- that new rate may be in agreement with rate schedule, 48 published in Bulletin, suggest that your Bank fix . .a.:nge of rates on discounts or purchases from financing Institutions—portion for which institution is obligated." Approved unanimously. 'red: Chairman.
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