New York, Feb. 8.
The annual report of the Federal Reserve Bank of New York forth the bank's policy of dealing with domestic credit conditions, which, it declares, is not influenced by its relations with the Bank of England, It adds that "while it iz the intention of this bank to exchange information fully with the Bank of England and avoid unnecessary action which would be detrimental to the maintenance free gold market, "The Reserve Bank and the Bank of England are both absolutely free and not committed with regard to any action relative: to discount rates."
In view of the close approach of the £ to parity considerable interest has been aroused by the bank's first official announcement. that use has not been made of the $200,000,000 credit placed at the disposal of the Bank of England last spring for two, years in connexion with Britain's return to the gold standard, -—Reuter's American Service,
Text read from the printed page and cleaned; old type leaves the occasional error.