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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.