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2854 meeting of the Executive Committee of the Federal Reserve Board 118.8 he in Washington on .ednesday, September 19, 1934, at 10:30 a. na. PRESMT: Mr. Thomas, Vice Governor hr. Hamlin Mr. Szymczak Morrill, Secretary Bethea, Assistant Secretary Carpenter, Assistant Secretary Wyatt, General Counsel Goldenweiser, Director of the Division of Research and statistics Assistant Director of the Parry, Er. Division of Research and Statistics Mr. DuBois, Assistant Counsel Mr. Woodlief Thamas, Research Assistant, Division of Research and Statistics Yr. mr. Er. Mr. Mx. 4113S0 PRESMIT: The 1.7) Mr. Edward Greenbaum)Special ,,,ssistants to Mr. )Oliphant, General Counsel to Ex. Samuel Klaus La% Theodore Yntema )the Secretary of the Treasury eonsideration, section by section, of the draft of September 1934, of the Proposed regulation with regard to the extension and 414ilatezianee of credit by brokers, dealers, and members of national securitiee ezehanges, Was Parry and Wyatt making explanatory resumed, atatez ellts in c onnection with each section. l'ecess was taken from 1:00 to 2:30 p. M. the conclusion of the consideration of the draft of regulation, Thomas 114etller inquired oC the representatives af the Secretary of the Treasury cklaaion. they had any cnments to make regarding the regulation or the dis' Greenbaum stated that they had nothing to say except that rneetib „ . 114c1 been T:Nyetkiry arranced by representatives of the Secretary of the l. nilaaiola 1'011_ with certain of the members of the Securities and Exchange Comt°211(Irl '" for the purpose of discussing the draft of regulation, which a conference would be held with the Secretary aC the is.835 9/19/34 Tl'e4811x7 on the matter. Thereupon the meeting adjourned. (Secretary's note: Vice Governor Thomas advised the Secretary of the Board after this meeting that prior to the meeting yesterday afternoon he had called the ?cretary of the Treasury on the telephone to advise , 113 m of the meeting and, being unable to reach him, had lnfoxlmed hr. Oliphant that the meeting would be held, atd that in response to the call 1r. Oliphant had requested Liessrs. Greenbaum, Klaus, and Yntome to attend the meeting. Lib. Thomas also advised that following the meeting yesterday afternoon the Secretary of the fellsurY had called him on the telephone with regard to ,4:Lie Purpose of the meeting, which had been explained by 1;ria. Thomas, and he had advised the Secretary of the asury of the meeting to be held today to consider theC draft of regulation.) T Secretary. ' 113Poved: • Vice Governor.