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1326 A meeting of the Board of Governors of the Federal Reserve System was held in Washington on Friday, October 11, 1940, at 10:30 a.m. PRESENT: Mr. Mr. Mr. Mr. Szymczak McKee Davis Draper Mr. Morrill, Secretary Mr. Carpenter, Assistant Secretary The action stated with respect to each of the matters hereinafter referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Federal Reserve System held on October 10, 1940, were approved unanimously.. Telegrams to Mr. Young, President of the Federal Reserve Bank °f Boston, Mr. Sanford, Secretary of the Federal Reserve Bank of New York, Mr. Leach, President of the Federal Reserve Bank of Richmond, 14r. McLarin, First Vice President of the Federal Reserve Bank of AtMr. Olson, Assistant Secretary of the Federal Reserve Bank of Chicago, Messrs. Stewart and Powell, Secretaries of the Federal Reserve Banks of St. Louis and Minneapolis, respectively, Mr. Caldwell, Chair'fl of the Federal Reserve Bank of Kansas City, and Mr. Hale, Secretary of the Federal Reserve Bank of San Francisco, stating that the Board approves the establishment without change by the Federal Reserve Bank °f San Francisco on October 8, by the Federal Reserve Banks of New York, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, and Kansas eitY on October 10, 1940, and by the Federal Reserve Bank of Boston 1327 10/11/4o -2- today, of the rates of discount and purchase in their existing ached flies. Approved unanimously. Thereupon the meeting adjourned. 6 '4411-4.4_ 111 01 ; Secretary.
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