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1110 A meeting of the Board of Governors of the Federal Reserve SYstem was held in Washington on Friday, October 28, 1938, at 11:00 a. m. PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Szymczak McKee Davis Draper Mr. Morrill, Secretary Mr. Bethea, Assistant Secretary Mr. Carpenter, Assistant Secretary There were presented telegrams to Mr. Paddock, First Vice President of the Federal Reserve Bank of Boston, Messrs. Kimball and Rays, Secretaries of the /ederal Reserve Banks of New York and Cleveland, ' l eePectively, Mr. Leach, President of the Federal Reserve Bank of Richmond, Mr. McLarin, Vice President of the Federal Reserve Bank of Atlanta, Messrs. Young and Powell, Secretaries of the Federal Reserve Beilks of Chicago and Minneapolis, respectively, Mr. Thomas, Chairman c'r the Federal Reserve Bank of Kansas City, Mr. Gilbert, First Vice President of the Federal Reserve Bank of Dallas, and Mr. Sargent, Secretary of the Federal Reserve Bank of San Francisco, stating that the Board approves the establishment without change by the Federal Re`3erve Bank of San Francisco on October 25, by the Federal Reserve BfInk Dallas on October 26, by the Federal Reserve Banks of New York, Cleveland, Richmond, Chicago, Minneapolis and Kansas City on October 27 '19387 and by the Federal Reserve Banks of Boston and Atlanta 10/28/38 -2- today, of the rates of discount and purchase in their existing schedules. Approved unanimously. The action stated with respect to each of the matters hereinafter referred to was then taken by the Board: The minutes of the meeting of the Board of Governors of the Federal Reserve System held on October 27, 1938, were approved unanimously. Telegram to Mr. Wood, Vice President of the Federal Reserve Bank of St. Louis, reading as follows: "Retel October 25, 1938, reaarding, request of receiver of National Bank of Kentucky, Louisville, Kentucky, to examine reports of examination of The Louisville Trust Campany, also of Louisville, made by examiners for your bank during years 1927, 1928, 1929, 1930. It is understood that Louisville Trust Company has no objection to Your making such reports available to receiver of National Bank of Kentucky for inspection, and on this basis Board ha no objection to your making available to receiver copies of such reports, exclusive of confidential sections, if any, for inspection on premises of Louisville branch. If Louisville Trust Company has any objection to such procedure please advise Board in the premises. You will understand, of course, that copies of such rePorts are not to be used as evidence in the pending court proceedings." Approved unanimously. Thereupon the meeting adjourned. I APPrOVed: Chairman. 1-flcretary.
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