This command lets you read memos that are currently stored for your NickServ account. Memos are stored on the IRC network and assigned entry numbers on a list for easy organization. This command takes 1 or 2 arguments, an optional channel argument for reading channel memos, and either a memo number, an entry number or range of entry numbers to read, or the word new to denote the reading of all currently unread memos. Usually, you will want to use the new argument for this.
To read all new memos sent to #channel, you can use this command:
/msg MemoServ read #channel new