Warning by U.S. Federal Reserve Board to Restrain Use New York, Feb. 6.
A warning that the use of the credit of the Federal Reserve banks for speculative purposes must be restrained was anode to-day in the course of a long statement issued by the Federal Reserve Board, It do-claves that loans granted to brokers fand dealers by the New York mem-her of thy Federal Reserve banks ast year inevensed by $1,743,000,000, thus straining credit conditions and causing an advance of one and 2 half per cent, In the east of com= mercial credit, The statement adds that it is the Federal Reserve Board's duty take such measures as are suitable to correct conditions whicl obstruct the Federal Reserve banks in the effective discharge of their
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