Full text of Minutes of the Board of Governors of the Federal Reserve System : Executive Committee : Meeting Minutes, April 13, 1915, Volume 2, Part 2

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EXE:CUTIVE

COMLILTTEE

April13
t
Decoinber '8

1171

•At a meeting of the Executive Committee of
the 2ederal Reserve Board held in the office of the
Board on Tuesday, April 13th at 12:30 p. m.
PREjENT:
Mr. Delano

Mr. Harding

Mr. Warburg

Mr. Willis, alcretary.

Owing to the absence of Governor Hamlin the
Vice Governor acted as Chairman of the meeting.
The Committee took ur for consideration the
question of salaries at ?ederal reserve bani.s.

A letter

from Federal Reserve Agent Tenison notifying the Board of
the election of

R.

L. Van Zandt as Governor of the Federal

Reserve Bank of Dallas, J. W. Hoopes, as Deputy Governor
and Lynn P. Talley as Cashier, at

000,

6,000 and .5,000

per annum, respectively; and furtner notifying the Board of
the fixing of the salary of Deputy Federal Reserve Agent
McCaleb at :
,;5,000, having been taken under advisement, the
)
Committee, on motion, voted to recommend to the Board the
approval of the aforesaid salaries.
After further consideration the Committee voted,
on motion, to recommend the salary of E. O. Tenison, 2edOral Reserve Agent, Dallas, Texas, at ,,-7,500 per annum,




1172

the same to be in place of the salary of '6,000 now
paid to Mr.- Tenison.
On motion it was voted to recommend to the
Board a salary of

7,500 per annum for M. B. Wellborn,

Federal Reserve Agent at Atlanta, Georgia, tame to
take the place of:the salary of ,:6,000 now received by
Yr. Wellborn.
The Secretary was directed to report the recommendations of the Executive Committee to the meeting of
the meeting - of the Board to be held on Wednesday, April
14th.
Mr. Warburg presented to the Committee correspondence with Governors Rhoadp and Strong relating to
prevailing monetary and banking conditions in the reserve districts of Philadelphia and New York. :r. 7areo.




Board
burg was authorized to advise Mr. Rhoads that the
would approve a purchase of warrants up to 43,000,000.
Committee
On motion at 1:00 p. m. the Executive
adjourned.