Board of Governors of the Federal Reserve System

Bank of Philadelphia for valuable suggestions and helpful comments. The

bank, effec tive July 14 and 21 for reserve city and country mem ber banks...banks and to apply some additional restraint on the expansion of banks

bank holding company that owns and controls Farmers & Merchants Bank, ...Bank”), a state chartered nonmember bank, and various nonbank subsidiaries

banks in the System Open Market Account which had been made on October...banks in the System Open Market Account; it being understood that before

banks had changed markedly. During August, banks had been in the position...Banks had been increased during the first half of August, one Bank having

bank, effec tive July 14 and 21 for reserve city and country mem ber banks...banks and to apply some additional restraint on the expansion of banks

Bank of Atlanta Mr. Thurston, Assistant Secretary Mr. Thomas, Economist...Bank of New York Upon motion duly made and seconded, and by unanimous

Bank of New York in the account since the last meeting of the executive...banks of securities in the account as of January 1, 1937, and the revised

Bank of New York Upon motion duly made and seconded, and by unanimous ...Bank of New York to execute transactions for the System open market account

Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. The Near-Term