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A special meeting of the Federal Reserve Board was held in the office of the Governor on ;iednesday, November 20, 1929 at 2:30 p.m. PRES=T: Governor Young :Ir. Platt ir.1:iller Cunningham Pole Li'. r. Y.cClelland, Asst. Secretary an The Governor presented a telegram dated November 20th from the Chairm of the Federal deserve Bank of Boston, advising that the board of directors 4 1/4 of the bank at its meeting today voted to establish a rediscount rate of business day on all classes of paper of all maturities, effective the first following that on which approved by the Federal Reserve Board. The Governor lves to him stated that both the Chairman and L:r. Hamlin have expressed themse any Federal de— as favoring approval of the action of the board of directors of serve bank in establishing a 4 1/2,, rate. Upon motion, the rate of 4 1/2,3 established by the Boston directors on all classes of paper of all maturities was approved effective tomorrow, November 21st. The meeting adjourned at 2:45 p.m. 69ki!Wee€6,,1 Assistant Secretary. Approved:
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