Full text of Committee on the History of the Federal Reserve System : Brookings : Correspondence [#2] (1955), Entry 164, Box 3, Folder 4

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Dfe«<B£b«>r £7;, 1955
Mr*

1 vrot« you oa Deeeebtr 21*t t£«t the a s s e s s of
to us for thi> "-.crithF of

M for RC atuefe i f taMH^P «*s fH
oot isi th« BfeRls.f# b i l l , but i n mj
idtb r t i i • •--- K «

Rdt

ttm M.A Mlfi
out it* thfcv IJMI Cobaltt«« i s 0lW3f«4 tVt Hi99 McXl^^tary*s
up to oiift~third* but for notMnc beyond th
Thisfftr-t52B«ttt»«t* ue » t r t l # t on t h i i
tb# Soveaiber b i l l sfiould bt p*id ec-

- Br, Calkins
Hies Maronty

Hr.
encloses b i l l £rm the Federal
of #*v Korte
rov# to
to bexiev* tni^t the a«rvic*ti of Hi»»
»
for AS BdfiK of
she n«« fr««« I n^v* vritx^n Mr*
s«n<i you i'urcaer *?or«l oa thl*

Dcmt of

to wi«m you «
^
Vory »ino«r*Xy youre,

Mixdroci
Hr* Sheldon B. Alter*
Xr*atitutlon
^

6, *>• 0,

6«««* Dr. Ccikins

2eee$aber 16, 1955
Dear Mr» Akeret

Enclosed is another axponse account
for Miss Adams, and one for isyself• Miss Adaae
has approved both»
Very truly,

Irma Burstein

Mr* Sheldon B« Akers
The Broomings Institution
722 Jackson Place H« ¥•
Washington 6, D. C.
£nc* 2

TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST, Vice
ARTHUR STANTON ADAMS
DANIEL W. BELL
ROBERT D . CALKINS
LEONARD CARMICHAEL
VILFRED L. GOODWYN, JR.
LEWIS WEBSTER JONES
JOHN E. LOCKWOOD
LEVERETT LYON
GEORGE C. MCGHEE
ROBERT BROOKINGS SMITH
GILBERT F. WHITE
LAURENCE F. WHITTEMORB
DONALD B. WOODWARD

HONORARY TRUSTEES
ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT

Chairman

OFFICERS

t 6, JL 01*

ROBERT D. CALKINS
President
MILDRED MARONEY
Treasurer

722 JACKSON PLACE, N. W.

ELIZABETH H. WILSON
Secretary

December 12, 1955

Miss Mildred Adams
Committee on the History of the Federal Reserve System
55 Liberty Street
New York U5, wew York
Dear Miss Adams:
Your analysis of Miss Burnett's time record agrees with the
reports submitted to us and February 10, 1956 is also satisfactory as
the termination date of her four months of service*

Sincerely yours,

Sheldon B# Akers,
Executive Manager

SHELDON B. AKERS
Executive Manager

D«eessber 6, 1955
Mr. ikerax
ton v i l l rmmbe? that Miss Burn®tt had a period of i l l ness tills fall snd that there was some question resulting frota that
gas tc the ifctes within viiich he? screed service, would run* l a
trying to work out the record, I find the following* September 19th
vae the date thnt Miss Burnett raturned and froia vhieh her four
sanths of service
remaining w e auppoted to m t Tou pi>id h«r froa
3«ptemb9r 19tvi to October 1st, although pftH of that time she was
ill*
In Ootofe#r Hisa Burn«tt -worked two dayg but found i t impossible to continue* Mo pevaent was made for the raont& of October
except for those tvro
As you knew, ahe returned tJu f i r s t of Bovoaber. X nould
therefore think that, as she had four months to -work for us this
felij the dating should be that she would be expected to work
during Hov«*?ib©rf Secaiiber, Januaiy and helf of February9 ifiih the
subtraction of two days for th@ two she worked in October, these
three and one helf months, plus the helf isoath in September• would
give her the four months for v^iich Goffjaittee authoriseticn has
been asde«
Xt this i s correct, her service would presumably end here
«tt the close of tiie working dny February 10, 1956*
Wo «1X1 b<3 grateful if you will check this tiam period
and l e t us Wnow i f i t accords vdth your
Veiy sincerely yours,

Mildred AdftRS
Mr* Sheldon B* Akers
the Brookinge Institution
722 Jackson Place 8. V.
Washington 6, D* C,

Miss Meroney

December 5$ 1955
De&r Mr. i.kerss
Enclosed i s an expense report for
Mi3s AdsmtJ for her recent t r i p to Washington,
She paid for her own r a i l fare this ttatg so
that item i s included.
Very truly,

Irae Burstein

Mr. Sheldon B. Akers
The Brookings Institution
722 Jcckson Place ». V.
Washington 6, D. C.
Enc.

December I, 1955

Deer Mr. Akers:
Enclosed ere tiste sheets for
Mips Burnett &nd myself

for the month of

November, 1955•
Very t r u l y ,

Iraa Burstein
Mr. Sheldon B. Akers
The Brookings I n s t i t u t i o n
722 J&ck&on Plpce N. V.
Washington 6, B. C#

November 28, 1955
Dear Mr« Akers;

Enclosed is our bank bill for
October, 1955 which just caae in today•
There sees to "be no unusual expenses
enclosed is an expense
account for Mr, ¥oodvard for phone cells
made on Committee business*
Very truly*

I ma Bur stein
Mr* Sheldon B# i t o r s
Brookings Institution
722 Jackson Place I* 1
W&aaington 6» 8» C.
Sac* 2

November 25, 1955
Dear Miss Msroney:
MiSB Adams and I both vrent to thank you
for the eeverf.l coMrmnicetiona and expenditure
stoteEents you Bent us this veek. They shed light
on Just ub*t fi^urep Nfcdt up the vericus totals
and vere B ^ref t b«Ip to tttfldi unschooled in
accounting
Mi as Adesis expects to be in Washington
next veek end v i l l rtop in to &&y heUo.
Meanwhile, thanks Egein for your eicU
Very sincerely,

Iran Burstein
Kiss Mildred Maroney
The Brookinge Inetitution
7*2 Jackson Plr.ce N. ff«
Vashington 6, B. C.

November 4>> 1955
Deer Mr. Akers?
Hiss Burnett1s cheek for October and
the check for our September expenses have been
received.
As for Mrs* Singer's time sheet, ve
have learned fro» an aunt in Nev Xork tkat
furnace difficulties kept Hre* Singer out of
her new home in Massachusetts for some tte«j
so she may not have gotten our various comaunications until recently* Miss Adams has
written her ££ein todsy requesting the time
report, end I trust you will have i t shortly*
Sincerely yours.

Irma Burstein
Mr, Sheldon B, Akers
The Brookings Institution
722 Jackson Place M« ¥«
Washington 6ff D. C.

HONORARY TRUSTEES

TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST, Vice
ARTHUR STANTON ADAMS
DANIEL W. BELL
ROBERT D . CALKINS
T
^ONARD CARMICHAEL
LFRED L. GOODWYN, JR.
,JVIS WEBSTER JONES
JOHN E. LOCKWOOD
LEVERETT LYON
GEORGE C. MCGHEB
ROBERT BROOKINGS SMITH
GILBERT F. WHITE
LAURENCE F. WHITTEMORE
DONALD B. WOODWARD

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT

Chairman

OFFICERS

m 6, -0- flL
7*2 JACKSON PLACE, N. W.

ROBERT D. CALKINS
President
MILDRED MARONEY
Treasurer
ELIZABETH H. WILSON
Secretary

November 2, 1955

SHELDON B. AKERS
Executive Manager

Miss Irma Burstein
Committee on the History of the federal Reserve System
53 Liberty Street
wew York U5, new York
Dear Mi^s Burstein:
Enclosed is our check covering expenses of the £iew York Bank for
the month of September 1955 •
Miss McCarthy mailed Miss Burnett's check today for the two days
sne worked during October, It is good to know that she is able to return
to a fToll-time schedule.
We have not yet received Mrs, Singer's time report for September
and would like to nave it so as to complete her personnel record.
Sincerely yours,

Sheldon B. Akers,
Executive Manager
SBA/m
Enc,
CC:

Miss Adams

Hoveaber 2, 1955
Dear Mr, Akerss
Enclosed is an expense account form for
Miss Adams covering a trip to Van Hornesvillej
New Xork in September* the trip was made by auto*
and we have computed the transportation cost by
using the same mileage allowance used in the Bank*
Very truly*

lima Burstein

Mr. Sheldon B. Akers
The Brookings Institution
722 Jackson Place N© V.
Washington 6, P. C.
Ene.

Hoveaber 2, 1955
Dear Hiss Ascht
Enclosed i s *irs» Kenyon's check for
0 vhich covers $73*20 for three commuters* tickets between Vestport and Rt* Xork
and $,40»00 for repair of two typewriters*
These vere no* GoiMtttM bu&iness, and she Is
therefore peyj ig for tb^it en liar personal
account.
He ?;ro 3^ndin^ ua exp
report to Brookings? for the two ?tems of Con# busineos (the r d l e ^ e and toll fees, and
Senyoa1 s shnre of the hotel b i l l for the
t r i p to V&n Ho^neaville) end v l l l be reimbursed
for those•
Thanks so such for your kindness In
getting together these figures for us.
Very sincerely,

I ma Burstein
Secretary
Miss Rose Marie Asch
Kenjon and Kenyon
165 Broadway
Hew York 6, »• I .
Ene.

THEODORE S. KENYON
GEORGE T. BEAN
FREDERICK BACHMAN
DOUGLAS H. KENYON
W. HOUSTON KENYON, JR.
RICHARD
K. PARSELL
R
IALPH L. CHAPPELL
ALVIN R. MANDELBAUM
CHARLES B. SPENCER
JOHN A. REILLY
THEODORE ORDMAN

PATENTS
TRADE-MARKS
LAW O F F I C E S O F

KENYON & KENYON
165 BROADWAY
NEW YORK 6, N.Y.

CABLE ADDRESS "AMAXIA" NEW YORK
TELEPHONE WORTH 4-7O3O
ASSOCIATE: DISTRICT o r COLUMBIA BAR

LEC B. K E M O N
1331 0 ST., N. W.
WASHINGTON 5, D. C.

November 1, 1955

FRANCIS T. CARR
HUGH A. CHAPIN
JAMES H. CALLAHAN
MICHAEL EBERT

PERSONAL

EDGAR F. BAUMGARTNER
OF COUNSEL

Mrs. Mildred Adams Kenyon
Research Director
Committee on the History of the Federal Reserve System
33 Liberty Street
New York % , N # Y.
Dear Mrs. Kenyon:
I have now obtained from Mr. Kenyon the information
you asked for in your letter of October 21, 1955. *t is
as follows:
Round trip to Van Hornesville
Parkway toll fees
3 commuters1 tickets Westport
to New York & $24#*K) each .....

500 miles/ C
$ 2.h
_.
"*-«*
$73 #20")
X
Mr* Kenyon also paid the two bills attached herewith
for repairs on two typewriters •.,. 1^0.00^/
Sincerely yours,

NGV 2
COMMITTEE CM THE HISTORV
Of )HE
*
R£St«v£ SYtTIM

Ends. 2 bills

By.
Secretary to W # Houston Kenyon,Jr.

October 21, 1955
i-ear Kiss Ash:
Thanks &o auch for your note tbout the hotel
b i l l on the t r i p to Van Hornesville.
I think we should also set sonie kind of a
siile&ge cost. I fine that tae bank allovs $ »07 a mile
plus t o l l s and parking fees when i t s employees use their
own cax-s on B&nk business* This would, I think, be a
proper charge on the Committee from New York to Van
Hornesvilie end return. Mr. Kenyon ran ft good deal of
mileage on his own account 'which* of course, should not
be charged* If you can get the mileage *nd. throughway
t o l l fee from Kr, Kenyon, I will be glad to put that on
the expense account.
As for coaaiuters* ticket3 during the summer of
1955» I should of course be charged for lay own. He
bought mine, wife his own, on his account as a convenience,
but I had not intended to l e t this run.
I will be grateful for these figures.
Sincerely yours.

Mildred Adams
Miss R. M. Ash
Kenyon uid Kenyan
165 Broadway
York, N. I .

W. HOUSTON KENYON
rp

October 20, 1955
Mrs. Mildred Adams Kenyon
Re: Trip to Vanhornsville
The b i l l a t the Cooper Inn
amounts to # 52,64
Your share

#26.32

Mr. Kenyon has paid for commuters
tickets during the summer 1955• Would
you wish to pay half of t h i s too?
(New York, New Haven & Hartford Rail-

roadpo.)

RMA

RECEIVED
OCT 2 1 1955
COMMfTTEE ON THE HISTORY
Or THE
FEDERAL RESERVE SYSTEM

BENJ. H. TYRREL

PRINTERS SINCE 1867
http://fraser.stlouisfed.org/
110 GREENWICH STREET
Federal Reserve Bank of St. Louis

WHttehall 4*9222

Uovamber 19 1955

p.r Mr, Akerni
Enclosed are tirte sheets for rgrself
and for Miss Burnett for th*> month of October,
1955.

She heis rotT.irned to work as of today

and i s sxtromely epprecietive of the v*iy you
her ftbeene®.
Sincerely,

Irms Burstein
Acting Assistant

Kr, Sheldon B# Akers
Thrj Brookings Institution
722 Jackson Place H, V.
6, D. C.
Bnc, 2

Bovtsabor l j 1955

Shi a M U note v i i l inform
that Hiss Ifatystcvltt I t m t t t fee* now f
covered her health mid r»turned to the
office fti of iot«i>«r 1, 1955* fcw MV
to bo vcrklnu h«r« PtgttX*^ (that le» half
cord of iHaefco snd 1 f*v (bfr$ WTfc

Tnm Brooking© Institution
722 Jnekson Pine® M. W«
6 f D* C,

October «8 f 1955
Dear Mr* Akerst
Enclosed Is our bill from the New Tork Bank for
expenses incurred during the month of September, 1955*
The small total is due to the fact that Miss
McKinstry vas not eble to work for us during the month*
so there is no salary charge for her*
Tae cost of stenographic *-rork vas high due to
the stencilling and running of 5 fairly large reports
at the beginning of the month* Other items are regular*
As Hiss Burnett intends to return to work on
November 1st, I vill forward both our time sheets on
that date.
Very truly,

Irma Burstein

Mr. Sheldon B. Akers
The Brookings Institution
722 Jtckson Piece H. V.
Washington 6, D, C,
Enc,

October 18, 1955

Dear If2% Akerst
Miss AdejRS h&s asked Be to thank you for
your kindness in handling the matter of Miss Burn e t t ' s absences in th« sanner this office requested
- that i s , considering her to be on leave vithout
pe.y until she i s able to return to vork on regular
schedule. I kaev this will relieve Miss Burnett
considerably.
1*11 send you her October time sheet
promptly on October ,31st.
Sincerely,

Ir&a Earstein
Acting Assistant
Mr. Sheldon B. Akers
The Brookings Institution
722 Jf.ckson Place M. ¥•
Washington 6, D* C.

HONORARY TRUSTEES

TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST, Vice
ARTHUR STANTON ADAMS
DANIEL W . BELL
ROBERT D . CALKINS
* *^NARD CARMICHAEL
FRED L. GOODWYN, JR.
, _ t V I S WEBSTER JONES
JOHN E. LOCKWOOD
LEVERETT LYON
GEORGE C. MCGHEE
ROBERT BROOKINGS SMITH
GILBERT R WHITE
LAURENCE F . WHITTEMORE
DONALD B. WOODWARD

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT

Chairman

OFFICERS
ROBERT D . CALKINS

President
MILDRED MARONEY

722 JACKSON PLACE, N. W.

Treasurer
ELIZABETH H. WILSON

Secretary
SHELDON B. AKERS

October 1A, 1955

Executive Manager

Miss Mildred Adams
Committee on the History of the Federal Reserve System
33 Liberty Street
New York U5>flewYork
Dear Miss Adams:
I am soriy to learn of tne continued illness of Miss Burnett and
certainly wish for her a rapid recovery.
We will postpone payment of the amount due her in October until we
have received her time sheet for that month and tften pay on the basis
of tne number of days worked during the montti. Thus, she will be considered on leave without pay until such time as sne is able to return
on regular schedule*

Sincerely yours,

Sheldon B. Akers,
Executive Manager

c
October 13, 1955
Dear Mr» Akerss
I am concerned about Miss Marguerite Burnett, who
came back to her part-time assignment on September 19th and
has been here only four half-days (September 19, 20 and
Ocijober 6, 7) since that time. This i s , of course, far in
excess of the sick leave "which i s due her, and yet the fact
that she continues i l l and unable to return.
Miss Burnett know3 the difficulties of this situation, and has no thought oi' laking any claim for excess leave*
I have told her that, rather th&n to come back intermittently
end for a half-day or tvo et a time, we would prefer that she
stay out until she i s sure 3he has recovered and can come
back on regular schedule. Shis she h&s agreed to do.
Under those circiaastances, i s there any way by
which she could be considered on leave without pay since
October 7th and until such time as her health improves? I
taink such a chang3 in status might contribute to her own
peace of ndnd, and i t would seem to me an entirely fair way
to handle this unusual situation, I know that such an arrangement would be entirely agreeable to Miss Burnett*
Very sincerely yours,

Mildred Adams
Mr. Sheldon B. Akers
Tne Brookings Institution
722 Jackson Place H. W.
Washington 6, D. C.

October 13, 1955
Dear Mr. Akers:
I have just checked with the New Y.ork Benk concerning
the Brookings check {ih» 35#) for our August bank b i l l and
learned that the check has been received.
In general, the checks have been mailed to the
Committee office, and we in turn pay the Bank. This allow*
us to retain the stub portion for our records* Otherwise* we
don't know whether or not the check has come i n . This time i t
was sailed directly to the Bank* If i t could be sent to us in
tiie future, instead of directly to the Benk, i t would ease our
record keeping,
I wiH be glad to do as you edvise in regard to
absences and inform you in advance when the nvnaber of days out
i s greater than the number earned.
By now Mrs. Singer should have sent her time sheet in
to you* If not, please l e t us know, and we'll try again.
Thanks for the additional expense report fonas.
Sincerely yours,

Irma Burstein
Acting Assistant
Mr. Sheldon B. Akers
The Brookings Institution
72?. Jackson Place «• V.
Washington 6, D. C.

HONORARY TRUSTEES

TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GlLCHRIST, Vice
ARTHUR STANTON ADAMS
DANIEL W. BELL
ROBERT D . CALKINS
T
">NARD CARMICHAEL
FRED L. GOODWYN, JR.
.VIS WEBSTER JONES
JOHN E. LOCKWOOD
LEVERETT LYON
GEORGE C. MCGHEE
ROBERT BROOKINGS SMITH
GILBERT F . WHITE
LAURENCE F . WHITTEMORE
DONALD B. WOODWARD

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT

Chairman

OFFICERS
ROBERT D. CALKINS

President
MILDRED MARONEY

7 2 2 JACKSON PLACE, N. W.

Treasurer
ELIZABETH H. WILSON

Secretary
SHELDON B. AKERS

October 12, 1955

Executive Manager

Miss Inna ^urstein
Committee on the History of tue Federal Reserve System
33 Liberty Street
New York 45> New York

Dear Miss Burstein:

Thank you for your letters of October 11. A check covering Mr,
Woodwardfs expense account will be mailed to him tomorrow.
Our check (No. 358) for the August bank bill was dated September 30
and mailed during the first part of the following week. Please let me
know if it is still missing. ^ t dk>^ siXtj 4~# Fft lhr***'x*t~»
As to absences, I think it will be sufficient if you make advance
reports only in cases where the number of days off is greater than the
leave (annual or sick) which the employee has earned or will have earned
by the end of the monthly pay period.
Some additional expense report forms are being mailed you with this
letter.

Sincerely yours,

->-<-. 03.
Sheldon B. Akers,
Executive Manager

c
October 11, 1955
Bear Mr* Akerss
Sorry to be flooding you with mail, but i t seems that as soon
as I get on© note off, I t ' s tiiae to write another.
I bare just received your l e t t e r of October 10th and the
enclosure of Kiss Burnett's check for the month of September* I will
Infora her that she hes used up a l l the letve ecrned to October 1 s t .
As for Mrs, Singer*f ttM cheet, I •> writing her promptly asking her
to forward the t i r e shest iniiiedictely. She left the office in haste
and did not, therefore, sotttti the account before l
In regard to ^biences, I \ d l l be ^i&cl to l e t you know in
advance of absences each month* If you would l i k e , 1*11 send you a
preliffiinery Dotation oae week before the end of each Booth l i s t i n g
the absences up to that point. That viXl$ of course, Iseve in uncertainty possible /.bsenoes in. the final veek of the ftonth until the
time sheete ere completed and sent i n , but I oan think of no other
wey to do i t . If you ctn recoaaend P. preferable nethod, I f l l be
happy to comply*
I note that no check has coae in to cover our August bank
b i l l vhieh I fon/arded to you on September 2§ttu Would you kindly
check on that for me.
tlianks for your good wisr.es*
Very sincerely,

Irma Burstein
Secretary
Kr« Sheldon ikers
The Brookings Institution
722 Jackson Pl&ce H. V#
Washington 6, D. C*

TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST, Vice
ARTHUR STANTON ADAMS
DANIEL W. BELL
ROBERT D . CALKINS
-INARD CARMICHAEL
FRED L. GOODWYN, JR.
_^WIS WEBSTER JONES
JOHN E. LOCKWOOD
LEVERETT LYON
GEORGE C. MCGHEE
ROBERT BROOKINGS SMITH
GILBERT F . WHITE
LAURENCE F, WHITTEMORE
DONALD B. WOODWARD

HONORARY TRUSTEES
ROBERT PERKINS BASS
Chairman

MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT

OFFICERS

t 5, ^, GL

ROBERT D. CALKINS
President
MARONEY
.a$urer

722 JACKSON PLACE, N. W.

ELIZABETH H. WILSON
Secretary

October 10, 1955

SHELDON B. AKERS
Executive Manager

Miss Irma Burstein
Committee on the History of the Federal Reserve System
35 Liberty Street
flew York 45,flewYork
Dear Miss Burstein:
I enclose Miss Burnett1s check covering compensation for the period
from September 19 to the end of the month. This payment covers the full
period but, since Miss Burnett worked only two days, the remainder of the
time has been charged to emergency or annual leave and this consumes all
of the leave (emergency and annual) which she had earned to October 1, 1955.
It would be helpful to us if the employees on the study would list
the number of hours worked per day on the basis of an eight-hour day. Since
we pay before receiving the time sheets, we should be notified in advance of
the payment date if any employee is not to be paid full time for the month.
In this connection I am reminded tnat we have not yet received Mrs.
Singer's time sheet for September. Would you kindly let her know that we
would like to have this sent to us.
With best wishes to you in your new assignment, I am,

Sincerely yours,
Sheldon B. Akers,
Executive Manager

BROOKINGS
SHAW, Edward

October 7, 1955
Dear Mr. Shew:
In going through some old notes* I
found one reference which you may already have,
which may be of no use, but vhich has a t i t l e
which sounds as though i t should come under
your eye.
Tais i s e. thesis written by William
Abbott, now Vice President and Director of Research at the St. Louis Federal Reserve Bank*
He wrote i t at Washington University, Missouri,
and i t s t i t l e i s "Evolution in Bank Utility. 11
I send this note out of that wellknown researcher 1 s feeling that a note once
pencilled on a piece of paper Bust have some
usefulness outside of the waste basket*
Sincerely yours,

Mildred Ari&ms
Mr. Edward Shaw
The Brookings Institution
722 Jackson Place N. V.
Washington 6, D. C.

October 6, 1955

Beer Mr, Akers*
Enclosed i s Miss Marguerite Burnett's
time sheet for the month of September, 1955« She
returned to work on September 19th, on the seme
part-time basis as she was working prior to her
sumer *s leare-vithout-pay*
Very truly*

Iraa Burstein
Secretary
P.S.
Would you kindly l e t Miss Maroney know
of Miss Burnett 1 s return. Thank you.
Mr. Sheldon B. Akers
the Brookings Institution
722 Jackson Place H. V*
Washington 6, D. 0.
Enc.

October 6, 1955
Dear Mrs, Suttle:
I have your note of October 5th asking for
"currently active members of the Committee.*
I em not quite sure how you mean the phrase,
but to the best of ay belief, all the members on this
letterhead should be considered "currently active,•
I think that even Dr. James, who has been traveling
in Turkey, is probably now back at McGill and can be
reached* I know that Mr, Burgess expected to be
back from Europe the last week in September, and Dr,
Villits is at the University of Pennsylvania. We
have not checked immediately on Dr. Stewart, but I
have no reason to believe that he is not active.
I hope this answers your question*
Most sincerely yours,

Mildred Adems
Mrs, Amelia Suttle
trie Brookings Institution
722 Jackson Place H. ¥.
Washington 6, D. C #

6, JL <S.

October 5, 1955

Dear Miss Adams:
Will you please send us a list of
currently active members of the Committee
for our files.
Sincerely yours,

S e c r e t a r y to M r . Calkins

Miss Mildred A d a m s
Committee on the History of
the F e d e r a l R e s e r v e System
33 L i b e r t y Street
New York 45, New York

R EC EIVED

COMMITTEE ON THE HJ8TOHY
OF THE

September 30, 1955
tir* Akerc;
Enclosed is &y time sheet for the month
of September*

As Miss Burnett is out ill, I

forward hers to you as soon as she returns*
Since Mrs. Sin&er has already left, I
sent her a time sheet to fill our earlier this
week, asking her to mail it directly to you* I
hare also forwarded her paycheck for September
to her»
Very truly,

Irma Burstein

Mr. Sheldon B. Akers
The Brookings Institution
722 Jackson Place N. V.
Washington 6, !>• C*

September 28, 1955
Dear Mr* Akerst
Enclosed i s our b i l l from the New
lork Federal Reserre Bank for the sionth. of
August, 1955•
Very truly,

IMLB. Buretein

Mr* Sheldon B. Akers
Tae Brookings Institution
722 Jackson Place I . ¥ .
Washington 6, D. C.
Eric.

September 6,
Mr* Sheldon B_. Akors
The Brookings Institution
722 Jackson Place H*W.
Washington 6, D.C*
Dear Mr. Akers:
Enclosed is the Bank bill for the month of July which I
held in the office here until the Edison bill for maintenance
of the Voicewriter should come in*
1 also enclose time sheets for the month of August for Miss
Burstein ar«d myself* Ton will note that I have used more than
my accumulated annual leave. I hope that this can be considered
leave without pay and deducted from my September pay cheek*

Very sincerely yours,

Mrs. Singer
Be search Assistant

September 1, 1955
Bear Mies Maroney:
Thanks so inuch for your letter of August
31st vhich corrects our record of expenditure and
also of Dr. Chandler's expenses. The difference is,
as you assumed, not great enough to bother us, and
we rely on you to make the necessary corrections on
your books*
A3 for Dr, Chandler's expenses and recompense, we are very glad not to hare to take care of
thiit. He has been in Washington e good bit thia
summer, and if the matter worried him, I'm sure he
would have taken it up with you»
I am going on vacation for the isonth of
September, but shall be vfithin easy reach if there
is cuy need for me. Mrs. Singer will be in charge
here, and I hope everything will go saoothly.
Very sincerely yours,

Mildred Adams
Miss Mildred Maroney
The Brookings Institution
722 Jackson Place K. ¥•
Washington 6, D. C.

SUTTLE, Amelia

August 19, 1955
Deer Mrs. Suttle:
I hope that I thanked Dr. Calkins
for his kindness in sending us the progress
report of Dr. Lester Chandler on the Benjamin Strong biography. If not, will you
pleese tell him how very grateful I 8s.
Cordially yours,

Mildred Adams

Mrs. Amelia M. Suttle
The Brookings Institution
722 Jackson Place H. V.
Washington 6, D. C.

August 17, 1955

Mr. Sheldon B, Xkers
The Brookings Institution
722 Jackson Place N.WT.
Washington 6, B.C.

Dear Mr. Akers;
I enclose an expense account for a trip Miss idarae
made at the end of July.
Thank you very rauch for your prompt response about
the check made out to Miss Dorothy Warden* I heard from
her the next dayj the delay had been caused by her being
away for the entire mohth of July.
ffhe heat is intense in New York today, I hope you
are faring better in Washington.
Very sincerely yours,

Mrs. Singer
Research Assistant

Mi.cl66.M4OM.3 48

DAILY TIME REPORT

FUNCTIONAL EXPENSE FORM F. R. 6 3 4
Employees should read carefully the instructions printed on the reverse side
of this form before making entries.

NOTE:

Name

Clock Number

Dept. Number

Month

Day

Year

Mrs* Monte
LOANED SERVICE CERTIFICATION: This employee was borrowed from the department indicated above and his time was devoted
to the form F. R. 634 unit(s) as shown below:

r>iv. Brooklnga Institution

tfee on the Hi story %ffi-the
Number of Borrowing Dept.

Report based on: Hali Hour Periods
Half-Hour
Periods
From & To

8/2/55

Sec.

Chief or Assistant Chief

Volume of Work

8/3/55

3/4/55

8/5/55

8/8/55

8/9/55

9:00- 9:30
9:30-10:00
10:00-10:30
10:30-11:00
11:00-11:30
11:30-12:00
12:00-12:30
12:30- 1:00
1:00- 1:30

1:30- 2:00

2:00- 2:30

2:30- 3:00

X
X

X
X
X

X
X

3:00- 3:30

X
X
4:00- 4:30
X
4:30- Snx« >4*5Q X
3:30- 4:00

X
X
X
X

5:00- 5:30
5:30- 6:00
6:00- 6:30
6:30- 7:00
7:00- 7:30
7:30- 8:00
8:00- 8:30
8:30- 9:00
9:00- 9:30
Hrs.

Mins.

Digitized
Totals for FRASER

Hrs.

Mins.

Hrs.

Mins.

Hrs.

Mins.

Hrs.

Mins.

Hrs.

Mins.

Hrs.

Mins. Hrs.

Mins.

INSTRUCTIONS
This report is to be prepared by an employee who:
1. Devotes any of his time to more than one F.R. 634 functional expense
unit.
2. Devotes all his time to a F.R. 634 functional expense unit, other than
the unit to which the expense of his division or section is normally
charged.
3. Is loaned to another division or section, regardless of the F.R. 634
functional expense unit to which its expense is normally charged.
An employee in any of the above groups should write the code letters for each F.R. 634 functional
expense unit on which he works each day in the spaces provided along side the caption "Half-Hour Periods
From and To". The proper code letters should be obtained from the employee's supervisor or chief. The time
worked on each such unit in each half-hour period should be indicated by a check or the number of minutes
worked. The time recorded should exclude rest periods, lunch periods, and any other time when no work is
being performed.
No allocation of time worked in excess of eight hours or for any time worked on a Saturday, Sunday,
or holiday should be made on this report, as such time is reported on the daily overtime report (Emp 50D).
A separate daily time report should be prepared by an employee for all time spent on a loaned service
basis. The "Loaned Service Certification" should be executed by the Chief or Assistant Chief of the borrowing
division and the report delivered to the division to which the borrowed employee is regularly assigned.
An employee who spends consecutive periods of, say, 15 or 30 minutes or perhaps less — depending on
the particular circumstances — should maintain daily time records by the clock as his time is consumed
during the day. An employee who devotes only a fev/ minutes at a time to work for a given functional expense
unit should at convenient times during the day (not less frequently than twice a day — just before luncheon
and at stopping time) record the time spent on the work of each expense unit to the best of his recollection.
Such cases should be kept at a minimum. The time recorded in such cases may be based on the volume of items
of work handled for each such expense unit, with due regard given to the complexity of each such transaction
handled so that the time recorded will reflect as accurately as possible the actual time devoted to the work of
each different expense unit. The employee should indicate, in the space provided, which basis was used to record
time allocation.
When inserting department numbers, clock numbers, and code letters, extreme care should be used to
have them accurate. Such numbers and letters are used by the Tabulating Division in the preparation of reports and inaccuracies can cause considerable difficulty and may result in inaccurate reports. Codes and numbers should be verified with the employee's supervisor or chief.

HONORARY TRUSTEES

TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST, Vice
ARTHUR STANTON ADAMS
DANIEL W . BELL
ROBERT D . CALKINS
LEONARD CARMICHAEL
.FRED L . GOODWYN, JR.
N W . HANES
LEWIS WEBSTER JONES
JOHN E. LOCKWOOD
LEYERETTLYON
GEORGE C. MCGHEE
ROBERT BROOKINGS SMITH
LAURENCE R W H r C r
DONALD

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT
HARRY BROOKINGS WALLACE

Chairman

(tlttfc

OFFICERS
ROBERT D . CALKINS
President
JACKSON PPLACE
L A C E
'
J A C K 8 O N

N W
' W '

MILDRED MARONEY
Treasurer
ELIZABETH H. WILSON
Secretary

T \

SHELDON B. AKERS
£arcc«fiVe Afanager

Mrs. Ellen C* Singer
Committee on tne History of tne Federal Reserve System
55 Liberty S t r e e t
New York 45, New York
Dear Mrs. Singer:

Our records show that we issued a check to Miss Dorothy Warden
in the amount of $47.00 for typing and mimeograph service on June 50,
1955*

I ani informed by our bank, American Security and Trust Company,

that the check was paid on the third of tnis month.

Sincerely yours,

Sheldon B. Akers,
Executive Manager

See CHANDLER f o l d e r f o r r e p o r t

5, -0. (B»

A u g u s t 8, 1955

Dear Miss Adams:
Mr. Calkins asked me to send you the
attached report from Professor Chandler.
Sincerely yours,

YftSecretary to Mr. Calkins

Miss Mildred Adams
Committee on the History of
the Federal Reserve System
33 Liberty Street
New York 45, New York

enclosure

August 4, 1955

Deer Miss Maroney:
Thanks so much for your l e t t e r of July 28th with i t s confirmation of the feet th fit we actually did spend only $3B, 754*75 for
the fiscal year 1954-55.
I &m. glad to hevf* the figure, but not particularly proud
of having been so thrifty, as this means we did not get done certain
things ire planned to do, so i t represents more a defeat than a victory*
I t i s a pleasure, however, to get rid of that deficit for
the pilot phase that really did cause us grief.
As for the new budget 1955-56, I am handing your suggestion
to Hrs. Singer who takes the f i r s t crack &t these things, Ve must
proceed on e. tentative basis until we know that the Rockefeller
Foundation approves nev plans for this fiscal year. Ibis means \that
we move along on the tentative budget until some tise in September.
Sincerely yours, \

Mildred Adams
i

Miss Mildred Maroney
Tha Brookings Institution
722 Jackson Place, N,W.
Washington 6, D« C»

July 29, 1955
Mr. Sheldon Akers
lima Burstein

Enclosed is my time sheet for
the month of July, 1955*

July 26, 1955
Dear Miss Maroney:
Tiianks ever so much for sending on e copy of your memorandum
on our funds. It is exactly what we needed, and it arrived at a psychological moment*
There is, however, one important detail on which I would like
your counsel. lou show a preliminary expenditure figure for 1954--55 of
$33,754»75» *fe Blade an estimate in Mey of $-42,150 as covering the probable expenditure for the sane period* Did we really spend $3t400 less
than we anticipated? Or is your "preliminary8 figure still lacking couple te data for May and June?
As you probably know, the Committee is in the process of trying
to firm up its plans and its budget estimates for 1955-56. In that
process it will help to know vhat we have as money budgeted but not
spent•
Thanks such - hope you are surviving the great he&t without
too much grief*
Cordially,

Mildred Adams
Miss Mildred Maroney
The Brookings Institution
722 Jackson Place H. W.
Washington 6, D. C«

KNICKERBOCKER DRIVURSELF, Inc.
OVER

A QUARTER

CENTURY OF SERVICE

RENTAL AGREEMENT

SYSTEM

THE UNDERSIGNED owner, being licensed to use the Hertz Driv-urself System, hereby certifies that the Renter (and Renter's employee,
if any) named in this Rental Agreement is entitled to fully participate
in the benefit* of Hert* Driv-ur-self System.

DUPLICATE COPY
FOR RENTERS USE
USE TIME STAMP BELOW TO SHOW TIME OF
RENTING AND TIME OF RETURNING VEHICLE

In consideration of the covenants herein contained, the undersigned Owner hereby leases to tfie undersigned
Renter upon the terms, covenants and conditions herein set out, the motor vehicle described above, hereinafter
referred to as "Vehicle".
(1) Renter acknowledges that said vehicle is the property of Owner and that he received it in good mechanical condition, except as may be noted in this contract.
(2) Renter agrees that he will return said vehicle to Owner in the same condition as he received it,
ordinary wear ana tear excepted.
(3) Renter agrees not to use said vehicle for the transportation of persons or property for hire, express
or implied, not to use it in violation of any Federal, State or Municipal law, ordinance, rule or regulation
governing the use or return thereof; nor to remove from this State without the written consent thereto of
Owner; and, if a truck is rented hereunder, not to carry passengers on said truck.
(4) Renter, being one of the assureds under Liability Insurance Policy covering said vehicle, agrees to
comply with all the terms, conditions and exclusions of said policy which by reference thereto are incorporated herein and made a part hereof, and to comply with the terms and conditions appearing below; and
that, in the event a truck is rented hereunder. Renter is hereby notified and is satisfied that there is no
cargo insurance on said vehicle. Renter accepts personal liability for all fines assessed for excessive loads.
(5) Renter expressly agrees to pay to Owner on demand:
(a) A mileage charge computed at the rate above specified for the mileage covered by said vehicle
during the period of this rental.
(b) Service and time charges computed at the rate specified above for the period of this rental.
(c) A sum equal to the cost of all damages to said vehicle during this rental period provided, however, that renter's liability shall be limited to $100.00 unless vehicle was operated in violation
of any of the provisions of this rental agreement, particularly section (3) above with regard,to
unlawful use and operation on streets and highways.
f
(d) A sum equal to the value of all tires, tools, and accessories lost or stolen from said vehicle. •
Renter is afforded no insurance coverage for the foregoing by the Owner or Liability Insurance Policy.
(6) It is expressly agreed that Renter (or his agent, servant or employee) is not the agent, servant or
employee of Owner in any manner whatsoever.
(7) If the Renter permits any other person to drive said vehicle and/or if the vehicle leased hereunder is
not returned to Owner within twelve hours after the time marked above for its return, or sooner upon demand
of Owner, for good reason shown, and the Renter has failed to obtain written consent of Owner permitting him
to retain said vehicle beyond the time noted for its return, and/or if this vehicle is removed from the State in
which it is hired without the consent of Owner, the said vehicle is then deemed to be operated without the
knowledge, consent and permission of Owner and the Renter is subject to all civil and criminal penalties
therefor, and Owner may notify the proper police authorities that said vehicle has been stolen and/or cause a
warrant t o be issued for the arrest of the Renter and/or such other person as may then be in possession of
said vehicle with or without the knowledge or consent of Renter and the Renter hereby releases and discharges
the said Owner from any and all claims of any and all nature arising therefrom.
*».
(8) The Liability Insurance Policy referred to above has limits of $25,000 for each person killed or injured, and subject to that limit for each person, a total liability of $50,000 for any number of persons killed
or injured in any one accident, and a limit of $5,000 for Injury or destruction of. or loss of use of, property of
third persons as the result of any one accident arising out of the operation OT the vehicle described above.
Owner requires that every accident must be immediately reported in writing to the Station from which
the vehicle is rented ana in any event within 24 hours after the accident, and Renter or driver must
immediately deliver to the Station from which the vehicle is rented or to the insurance carrier as soon as
practicable every and all process, pleading or paper of arty kind relating to any and all claims, suits and
proceedings which may be received by Renter or driver. The Renter or driver shall not in any manner aid or
abet any claimant, but shall cooperate fully with the Insurance Company and Owner in all matters connected
with the investigation and defense of any such claim or suit.
(9) The vehicle described herein shall not be operated: (a) by any person in violation of law as to age
or by any person under the age of eighteen (18) years in any event; (b) In any race or speed contest; (c) To
propel or TOW any vehicle; (d) By any person other than the Renter who signed the Rental Agreement or his
employer, or by a person regularly employed by such Renter in the usual course of his business, except that an
operator may be supplied by the Owner at the request of the Renter, and such operator shall then at all
times be deemed to be the agent or employee of the Renter; (e) In violation of any part of the terms of this
Rental Agreement; (f) By a driver or renter who has given a fictitious name or false address; (g) By any
person under the influence of intoxicants or narcotics; (h) For any illegal purpose; (i) Outside of the scope of
the driver's employment in the usual course of the trade, business, profession, or occupation of the Renter;
(j) Recklessly, as to speed or otherwise.
(10) Renter expressly agrees to indemnify and save harmless the owner for any and all loss, damage,
cost and expense, claims ana demands paid or incurred because of property damages and personal injuries
arising out of the use of the rented vehicle and notice is hereby given that neither the Owner nor the
Liability Insurance Policy referred to herein affords coverage to the Renter for the same, for any and all
claims and suits by the Owner against the Renter by reason of:
(a) Injuries sustained by renter, driver or any of Renter's agents, servants, employees or joint
renters of the vehicle.
(b) Liability imposed upon or assumed by the Renter under any Workman's Compensation Act,
plan, law or any contract of whatever nature.
(c) Any and all violations of this contract.
r
DO N O T F A I L

REFHK D ON GA!3 &
ON

BR].NGS

"PUPC HASED
p PJTER
..-16.

TO KEEP CAR
LOCKED WHEN IT
IS UNOCCUPIED

HOURS @
DAYS

WEEKS @
SERVICE

DAMAGE

(

REMARKS)

TOTAL

iplJOH & KBNYON
BROADWAY
YORK 6, N.Y
RECEIVED BALANCE DUE ON RENTAL DEPOSIT IN
AMOUNT OF $
SIGNED
REMARKS

X 0)

SIGNED
OWNER'S NAME
KNICKERBOCKER DRIVURSELF, Inc.
70-72 HUDSON AVE.
ALBANY 7, N. Y.
1ONE 5-4539

RENTER

MILES @

BY
IN BY

June 30, 1955
Dear Miss Maroneys
In reply to your letter of June 27th
I understand that Mrs* Singer has written Miss
Long about the travelers checks and straightened
that out.
I am sending to Dr. Chandler a note
with the substance of your paragraph about his
own contract* In lieu of the Kincaiti experience
I have my fingers crossed, but Dr. Chandler is
a very knowledgable person, and I see no reason
why there should be any trouble with that one*
Certainly I hope you will not have another problem of this type on your hends*
The next time ve come to a contract
I hope we may be able to form it so that the
lessons of the Kincaid experience are clear*
With both of us alerted to possible dangers in
vague phrases* ve ought to be able to work
something out*
I hope the summer is not being too
difficult.
Cordially yours.
Mildred Adams
Miss Mildred Maroney
The Brookings Institution
722 Jackson Place H. V.
Washington 6, D. C*

June 28, 1955

Mr. Sheldon B. Akers
The Brookings Institution
722 Jackson Place N.V.
Washington 6, D.C.
Dear Mr. Akers:
Enclosed is a sheaf of expense reports which I have been
holding until Miss Adams exhausted the $250.00 advanced in
traveller's checks by the New Xork Bank. Miss Adans1 recent
trip to Minneapolis and K&nsas City finally used up the last
of that money, so I am sending in the reports.
lou will note that Miss Adams1 expenses, as recorded on
these sheets, total $399.06. She received $250.00 from the
Hew Xork Bank so that she is now owed $149*06 by Brookings.
I also enclose an expense report for Mr. Woodward and one
for Dr. Willits, as well as three bills from Thomas A.
Edison, Inc. for the use of an Ediphone while Miss Adams
was away on a trip. The other bill, from Evelyn V. Cooley,
is for copying an index in the Amherst Library for this
office. The work was arranged by Miss Durkan, the Librarian
at Amherst, but the bill should be paid directly to Miss
Cooley at the address given.

Very sincerely yours,

fku
Research Assistant

MISC. 140 B
(MISC. 14O B.I—3OM-6-83)

June 2$, 1955
Mr. Sheldon B. Akers
The Brookinga Institution
722 Jackson Place H.V.
Washington 6, D.C.
Dear Mr. Akers:
I enclose two additions to the heavy load of papers
I have already sent today. One is, I hope, the next~to~last
expense report of this fiscal year (Miss Adams is taking
a trip to Bryn Mawr tomorrow); the other is a bill for
copying some pspers and an index. Will you ple&se pay this
bill directly to Mies Warden.
Very sincerely ycmrs,

Research Assistant

June 28, 1955

Mias Martha Long
The Brookings Institution
722 Jackson Place H.V.
Washington 6, D.C.

Dear Miss Long:
I have been keeping Miss Adams1 expense reports in the
office here until the whole $250 advanced by the Federal Reserve
Bank of Hew lork should have been exhausted. Miss Adams1
recent trip to the middle west put her in the black at last.
I have therefore sent the expense reports to Mr. Akers today.
Sorry all thia came so close to the end of the fiscal
year but Miss Adams; couldnH spend the advance before.

Sincerely,
l

Research Assistant

TRUSTEES

HONORARY TRUSTEES

WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST. Vice Chairman
TTHUR STANTON ADAMS

iNESL W. BELL
ROBERT D. CALKINS

^
f^

can

rsr%

,<-,

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT

,•

HARRY

_
—. wmm M % ( £ u £ . j^X}XXKWXQ& rJJtlSIuUttOlt
jg| G> fc£ | \f E» i t /

LEONARD CARMICHAEL
WILFRED L. GOODWYN, JR.

OFFICERS
ISlRnttUrttMtrtt

JOHN w. HANES

(Y 1R

^aaijmgttm tJ, ^ , uu

LEWIS WEBSTER JONES

JOHN E. LOCKWOOD

BROOKINGS WALLACE

, ..

ROBERT D . CALKINS

* f •" •;

j J « 2 8 *»" > -

Pratdmt
7 2 2 J A C K 8 O N PLACE, N. W .

LEVERETT LYON
GEORGE C. MCGHEE
ROBERT BROOKINGS SMITH COMMITTEE O N T H E HISTORY
LAURENCE F. WHITTEMORE
Q? T H E
DONALD B. WOODWARD
carver is Al » i : c f i : » w r « i ¥ ^ T £ ^
T^QstLfxAL r(fc5>C>"*C« o i s i t t r

Trtosunr
ELIZABETH H. WILSON
Secretary
SHELDON B. AKERS
Executive Manager

June 27, 1955
Dear Miss Adams:
Thank you very much for your letter.
I had not previously
realized that the old gentleman was so helpless and I wish I had
written him a simpler explanation of his procedure.
Actually, though,
I don't see how I could have simplified matters for him very much, short
of going down to Charlottesville and making out his income tax return
for him.
This would have required me to go over his check stubs etc.—
really too much for me to undertake as a favor.
Perhaps as you say there is someone on the campus who will help
Dr. Kincaid.
Qv perhaps he will go to Richmond as he did once
previously.
It is my experience with the Internal Revenue Service
people that they are very glad to help out people who need it, as should
be obvious in this case.
The whole arrangement with Dr. Kincaid troubled me from the beginning, because although a certain portion was earmarked for personal
compensation to Dr. Kincaid the entire amount which we advanced is subject
to interpretation as such without vouchered accounting.
Even though you
suspect Dr« Kincaid may not have adequate records, he should at least have
his cancelled checks and checkstubs, which are the primary records in such
a case
In the case of the Chandler contract, we are distinguishing on our
books between the amounts paid as personal compensation and the amounts
advanced for expenses. Pro tern, we are reporting only the former and are
holding the latter subject to his accounting. As you will recall, I advised him to that effect months ago, and his first account will be due
for the period ending June 30, 19J>5>. (Any tijne this summer will do for
his report.)
I have not met Dr. Chandler but can imagine that there
will be no trouble in this case; he is undoubtedly familiar with the tax
aspects.
Miss Long asked me to instruct her what she should do with respect
to travellers checks which you are holding.
Since we will close our fiscal
year as of June 30, I told her to ask you to report on whatever portion you
had spent so that we could translate those to expenses; if you are still
holding them, we will continue to carry them as an "advance.n
I donft see
any point in your cashing and refunding them if you will later need them.

P. S. I

of
July.

Yours sincerely,

understand Mrs. linger hopes to get the bank bill to us by the
If she can do that, I congratulate her#

•Tune 24f 1955
Dear Mies Maroney:
Thanks so much for sending us a copy of Dr#
Eincaid's latest letter in regard to his taxes and of
your reply.
His handwriting looks firmer than i t did when
he went to Florida, and he has apparently forgotten
e l l the good advice which you gave him. l a s t suraer*
I t also sounds &.s thfflgh he at-d retched tbfct stftg*
•when any effort in regard to ttx matters WEB just too
much of a strtiin, I wish he would take your l e t t e r to
the University*& t«X ^an and bt*t the forms made out.
I t v;ould save him a great deal of anguish.
X note in your memorandum to Br. Calklna
th&t you distvov v& intent to imply th&t nDr« KincEidfs
records are not in order for his own needs" and assert
that you believe they are* Personally, I think that i s
optimisa on your part, but I don11 think there i s anything one can do about i t .
The poor man i s , of course, by now old and
infirm, but the whole performance i s a pathetic commentary on the wgr age robs even an economic consultant
of ability• For this reason, among others, my warm
thanks to you.
Cordially yours,
Mildred Adams
MiSB Mildred M&roney
The Brookings Institution
722 Jackson Place H. V.
Washington 6, D# C»

Jane 17, 1955
Mr. Sheldon B. Akers
The Brookings Institution
72<? Jackson Place 1*9,
Washington 6, D.C*
Dear Mr. Akers:
The best the Accounting Department of the $ew *ork Bank could
do this month was to present our bill on the 16th* I have again
exhorted them to be prompt next south in view of the Brookings
fiscal year, but I do not think they can do snich better* I hope
the delay will not be too difficult for Misa Maroney. Enclosed
is the bill for May which has been approved by Kiss Adams. One
itess needs special mention, "cost of stenographic work - $63 •C^**
This work was ail done on revising the tranaceipt of the second
conference at Princeton which took pla,ce on January 29th, and
the 163*02 should be charged to that account.
I also enclose Miss Burnett's time sheet for the month of
June* You wi|i. recall that we arranged earlier, when Miss Burnett
missed some tine because of sickness, that she sight work a few
days at the end of her appointment to sake up time she had missed*
Her appointment was extended through June 15th. She has worked
yesterday and today to finish up screport and to make up two days*
I have allowed this office to m a out of Expense Reports. Would
you be good enough to send us another supply.

Very sincerely yours,

fll
Research Assistant

BUDGET FOR ATTENDANCE OF MARGUERITE BURNETT AT CONVENTION
OP SPECIAL LIBRARIES ASSOCIATION AT DETROIT
J u n e 12 - 1 3 ,

19$$

RAIL TRANSPORTATION

Round trip, with roomette both ways, N.Y. Central,

I8U,33

HOTEL STATLER
h days and 3 nights @ $8.50

(8.50 X 3.5)

MEALS

29.75

25.00

k fioil days in Detroit, including one special Group
dinner and one special luncheon, plus 2 extra
meals on train
LOCAL TRANSPORTATION

(taxi, bus, etc.)

6.00

One or two trips to Ford Archives
BAGGAGE & TIPS

8.00

MISCELLANEOUS

11.92

Convention Registration fee $-7.00, e t c .

TOTAL

Approved_
Approved

.'f

165.00

HONORARY TRUSTEES

TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST, Vice Chairman
HUR STANTON ADAMS
j(EL W. BELL
ERT D. CALKINS
LEONARD CARMICHAEL
WILFRED L. GOODWYN, JR.
JOHN W. HANES
LEWIS WEBSTER JONES
JOHN E. LOCKWOOD
LEVERETT LYON
GEORGE C. McGHEE
ROBERT BROOKINGS SMITH
LAURENCE F . WHITTEMORE
DONALD B. WOODWARD

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT
HARRY BROOKINGS WALLACE

OFFICERS

ROBERT D. CALKINS
President
MILDRED MARONEY
Treasurer
ELIZABETH H. WILSON
Secretary

7 2 2 JACKSON PLACE, N. W.

9 1955

June 8, 1955

SHELDON B. AKERS
Executive Manager

COMMITTED ON THE HISTOR*
OF THE
FEDERAL RES£R*£ SYSTEM

Mrs. Ellen C, Singer
Committee on the History of the Federal
Reserve System
55 Liberty Street
New York 45, New York
Dear Mrs* Singer:

Thank you for the April bank bill which reached me the first of the
week.
Our fiscal year ends June 50 and we are wondering if it would be
possible for you to furnish us early in July a bill which will show expenditures for May and also for June, This will be needed before we can
close our books and any assistance you can give us in securing these statements will be greatly appreciated.

Sincerely yours,

Sheldon B, Akers,
Executive Manager

10k

June 3, 1955

Mr. Sheldon B. Akers
The Brooking© Institution
722 Jackaon Flace &.¥.
Washington 6, B.C.

Dear Mr. Akers:
I enclose the bill From theftevXork
Bank for the month of April. It case in very late this
time.
The bill is unusually small because Hiss
Adams did not do much travelling and our other expenses
(supplies, telephone, stenographic work) were also
light.

Very sincerely yours,

Mrs. Singer

June 1, 1955

Mr. Sheldon B* Akers
The Breedings Institution
722 Jackson Place N.W.
Washington 6 f D,C.

Dear Mr. Akers:
I enclose a travel report for Hiss Bur3tein and
a bill from the lew Xork Central for tickets to and from
Detroit. These tickets will be used by Hiss Burnett to
attend a conference of librarians, a trip approved some
tiiae ago by Mr. Woodward.

Very sincerely yours,

Mrs. Singer
Secretary

May II, 1955

Dear Hiss Longi
Thanks so much for sending sie payroll
check #5000 to replace check #132 of March 23,
1955 vhich was apparently lost in the mail.
This is a complete mystery, and I do
not know whether it will be solved, but certainly if the check should in any mysterious
way turn up, I will return it to you. Thsnks
again for your kindness.
Cordially yours,

Mildred Adams

Miss Marthe Long
The Brookings Institution
722 Jackson Place H. V.
Washington 6, 3). C.

nstitution
6, JL 01*

722

J|fcSf?C

May 10,

Miss Mildred Adams
Federal Reserve Bank of
33 Liberty Street
New York [£, New York
Dear Miss Adams:
Enclosed is payroll check #£000 to replace
check #132 of March 28, 1955* which was probably
lost in the mail*
A stop payment has been placed on the above cheeky
however, if it should eventually reach you, we
would appreciate your returning it to us #
Very truly yours,
The Brookings Institution
Martha Long
ml
Encl#

May 9, 1955

Mr* Sheldon B. Akers
The BroolcingB Institution
722 Jackson Place $.¥.
Washington 6^ B.C.
Bear Mr. Akarst
The enclosed bill for la®ps for the Committee office
was approved in advance by Mr.. Woodward and is endorsed as
approved by Miss Allans»
They are really wonderful lamps and Miss Burstein
I notice a great difference in ease of working, I hop©
s&aeday you and Miss Maroney will visit the office.

Very sincerely yours,

Research Assistant

May 6, 1955

Dear Miss Maroney*
After talking with Dr. Calkins at the
Executive Committee meeting on Wednesday, I put
together the enclosed budget and discussed it
*jith his over the telephone this morning. It is,
of course, tentative and provisional, but given
the present situation, it may bs of some help in
setting up your own figures. We thought you
would like a copy of your ovn - hence this enclosure.
Cordially yours,

Mildred

Miss Mildred Meroney
The Brookings Institution
722 Jackson Place N, ¥.
Washington 6, D, C,
Enc*

April 28, 1955
Mr. Sheldon B» Akers
The Brookings Institution
722 Jackson Place K.W.
Washington 6, B.C.

Bear Mr. Akers:
I enclose the April time reports for this office and
also the March bill from the* Sen York Bank, On this bill,
I should like to call several items to your attention*
s

1. Cost of commercial telegrams
$11*09
these telegrams were sent In connection
w&th the conference on January 29th snd
should be charged to it.
2. Goldsa&th Bros.
2.60
this bill for report covers should also
be charged to the Conference*
3- W. %. Kline
9.00
theme wing binders were bought for the
inventory made by Dr. Eincaid and should
be charged to the finc&id-Glass account.
the high total of the bill is due largely to the travelling
expenses of Miss Adams during the month of March. Mr« Woodward ,
had been notified of these in advance and authorised them*
'•

•

Very sincerely yours,

Research Assistant

Enc. Bank Bill for March, dated U/20 /55
j
Time reports for April for Miss Burnett, Miss Burstein, Mrs. Siriger

TRUSTEES

HONORARY TRUSTEES

WILLIAM R. BIGGS, Chairman
HUNTINGTON GlLCHRIST, Vice Chairman

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS

tHI{£ ^rOoktttllS 3ttgtttttttlXtt
.BERT D. CALKINS
LEONARD CARMICHAEL

HARRY BROOKINGS WALLACE

^
OFFICERS

WILFRED L. GOODWYN, JR.
OTttttkmrtimt
JOHNW.HANES A
PR1 1 1
95
)5
£${5
10
LEWIS WEBSTER JCWE5
"** ^
JOHN E. LOCKWOOD

fi
H ffl
<
» . « ~ J . « » « » » fc,
*>, C- « .
^Wljttlgimt
7 2 2

JACKSO

PLACE, N. W.

GEORGE C. M S G B ^ ^ ^ ^ ?*"' ^ ^ HISTORV

ROBERT D. CALKINS
President
MlLD^MARONEY

ELIZABETH H. WILSON

ROBERT BROOKINGS SMITlP r ^ * ^

LAURENCE Ff«OfilttUoAES£ftV£ SYSTEM

Secretary

April

1 8 , 1955

DONALD B. WOODWARD

SHELDON B. AKERS
Executive

Mrs. Ellen C. Singer
Committee on the History of the Federal Reserve System
55 Liberty Street
Hew York 45, New York
Dear Mrs* Singer:

We do not seem to have received time sneets from you, Miss Burnett
and Miss Burstein for the month of March. Would you be good enough to
send them to us, please?
I am enclosing a few forms in the event that your supply is running low*

Sincerely,

Manager

April 15, 1955

Miss Irma Burstein
Committee on the History of
The Federal Reserve System
33 Liberty Street
New York 45, New York
Dear Miss Burstein:
I am very happy to report that effective
May 1 your salary will be increased to the annual
rate of
We are happy to grant this increase
ia recognition of the service you have rendered.
Sincerely yours.

President

cc:

Mr, Woodward
Miss Adams
Mr, Akers
Miss Maroney
Mrs. Wilson

April 15, 1955
Miss Mildred Maroney
The Brookings Institution
722 Jackson Place N.V.
Washington 6, D.C.

Dear Miss Maroney i
Misa Adams has recently returned from her trip to the
Federal Reserve B&iiks of Dallas and S:n Francisco. For
that trip, the Sew Xork Bank bought her $250-worth of
travellers checks, which will be charged to the Coismittee
on the March bill* Miss Adams spent only $100 of that
money during this trip. She would like to keep the remaining
$150 for the trip to 'Washington she plans to make next
week end a trip to the Federal Reserve Banks in Kansas City
and Minneapolis early in May.
Would it be possible, then, for her to keep this
or would yourprefer that she send you her personal check
for the difference between wh&t the Bank got for her and
what she spent. I shall hold up her expense account until
I hear from you.
We are having a lovely spring day in New ¥ork and 1 think
with envy of the green trees and shrubs of Washington.

Sincerely,

Mrs. Singer

mI3O«

1 €>€> .5-42M-7-54

DAILY TIME REPORT
FUNCTIONAL EXPENSE DISTRIBUTION
Employees should read carefully the instructions printed on the reverse side
of this form before making entries*

NOTE:

Name

Clock Number

Dept. Number

Day

Month

Year

Mtuy Daly
LOANED SERVICE CERTIFICATION: This employee was borrowed from the department indicated above and hii time was
devoted to the Functional Expense unit (s) as shown below:

Committee on tilt Hi3tow of tilt Federal Reserve Syst«m (Brookings Institution)
Number of Borrowing Dept.

Chief or Assistant Chief

Report based on:• Half-Hour 1Periods
Half-Hour
Periods
From & To

Sec

Volume of Work
i

4/6/55

4/7/55

9:00- 9:30
9:30-10:00
10:00-10:30
10:30-11:00
11:00-11:30
11:30-12:00
12:00-12:30
12:30- 1:00
1:00- 1:30
1:30- 2:00

2:00- 2:30

X
I
%

2:30- 3:0P
3:00- 3:30 |

3:30- 4:00 !

, .

•

1
J

4:00- 4:30

1
\ ,, ,

4:30- 5:00

5:00- 5:30

5:30- 6:00
6:00- 6:30

6:30- 7:00

—,_

f
;

7:00- 7:30
7:30- 8:00

1
!

8:00- 8:30
8:30- 9:00 I

9:00- 9:30
Urs.

Mins.

Totals

Mrs.

Mins. 'Sx'L M i n s , TSLrs*

lira.

Mins. lirs.

Mins.

Urs.

Mins.

i
His.

Mins.

INSTRUCTIONS
1. This report is to be prepared by an employee who:
a. Devotes any of his time to the work of any functional expense unit, other
than the unit to which the expense of his division or section is normally
charged.
b. Is loaned to another division or section, regardless of functional expense unit to which its expense is normally charged.
2. An employee in any of the above groups should write the code letters for each functional expense unit on which he works each day in the spaces provided along side the caption "Half-Hour
Periods From and To". The proper code letters should be obtained from the employee's supervisor or
chief. The time worked on each such unit in each half-hour period should be indicated by a check or
the number of minutes worked. The time recorded should exclude lunch or dinner periods of one halfhour or more for which no credit as time worked is allowed on the Weekly Time Card (Emp. 64), but
should include rest periods or any other periods during the day for which credit is allowed.
3. No allocation of time worked in excess of eight hours or for any time worked on a Saturday,
Sunday, or holiday should be made on this report, as such time is reported on the Weekly Time Card.
4. A separate daily time report should be prepared by an employee for all time spent on a
loaned service basis up to a maximum of eight hours. When an employee is loaned to another division or section
for part of a day or after the completion of a normal day's work in his own division or section, and he is required to work overtime in the borrowing division or section, a daily time report for loaned service must be
prepared for the difference between the number of hours worked in the employee's own division or sectioii
and a total of eight hours. The "Loaned Service Certification" should be executed by the Chief or Assistant Chief
of the borrowing division and the report delivered to the division to which the borrowed employee is regularly
assigned.
5. An employee who devotes consecutive periods of, say, 15 or 30 minutes or perhaps less — depending
on the particular circumstances — to work for a given functional expense unit should maintain daily time records
by the clock as his time is consumed during the day. An employee who devotes only a few minutes at a time to
work for a given functional expense unit should at convenient times during the day (not less frequently than
twice a day — just before luncheon and at stopping time) record the time spent on the work of each functional
expense unit to the best of his recollection. Such cases should be kept at a minimum. The time recorded in such
cases may be based on the volume of items of work handled for each unit, with due regard given
to the complexity of each transaction handled so that the time recorded will reflect as accurately as possible
the actual time devoted to the work of each different functional expense unit. The employee should indicate, in
the space provided, which basis was used to record time allocation.
6. When inserting department numbers, clock numbers, and code letters, extreme care should be used
to have them accurate. Such numbers and letters are used in the preparation of reports, and inaccuracies may
cause considerable difficulty and will result in inaccurate reports. Codes and numbers should be verified
with the employee's supevisor or chief.

April 1, 1955
Dear Mr. Akers:
Enclosed are one b i l l and one request for payment
which Kiss Mams would like to have included in the March expenses. The b i l l from Mrs* Lucy Cluett i s for making more
copies of the Glass inventory compiled by #r. Kincaid. On
December 28, 1954- (Minutes dated January 5$ 1955) > the Executive Committee voted that $112.00 be appropriated to pay for
these extra copies. The difference between the appropriation
and tiie actual cost ($125*11 of -which $20.00 has been already
advanced by Brookings) should be charged to our regular office
expenses (2705 - 102). The $112.00 should be added to the
costs of the Kincaid-^lass project.
The second expenditure of
i s for Miss Beatrice
Bulla,
., for completing
the bibliography of hearings she made for us. This amount
should also be charged to our regular office costs, (2705 - 101}
This sum broken down i s ;
23 1/4- nours a
per hour =
,
Miss Adams approved these requests for payment before
leaving on her western t r i p , but, being absent, cannot sign
this l e t t e r .
Sincerely,

Ellen Singer
Research Assistant
Mr. Sheldon B. Akers
The Brookings Institution
722 Jackson Place II. V.
Washington 6, D. C.
Inc. Bill from Lucy (Mrs, Maxwell) ^iuett for second run
of Ulass inventory.

April 1, 1955

Bear Miaje Maroaey:
Thank you for your letter of March 31st, and
your suggestion that explanations of bills should
Mr. Akers. In regard to the quarterly statement,
you please render the account as of March 31 with
footnote that the March bill from the Bank is not
I am sending Mr, Akers today two bills which Mies
wished to have included on the March charges.

for
go to
would
the
included.
Adams

Miss Adams told me that in her conversation with you
last week, you had worked out a scheme of accounting
which you were going to send to us- I am looking forward
very much to receiving it. Though she did not give me
a complete description, so that I may be mis-st&ting what
it was, she said it would be most helpful. Perhaps she
meant the quarterly statement• Anyway, it is something
you discussed with her and worked out for her last week.
I hope from this rather confused description you can guess
what I mean.
Very sincerely yours,

Ellen C. Singer
Research Assistant

Miss Mildred Maroney
The Brookings Institution
722 Jackson Place 8.¥.
Washington 6, B.C.

MISC.

166 .5-42M-7-54

DAILY TIMS REPORT
FUNCTIONAL EXPENSE DISTRIBUTION
NOTE:

Employees should read carefully ths instructions printed on the reverse side
of this form before making entries.

Name

Clock Number

Dept. Number

Month

Hairy Daly

I Jay

Year

LOANED SERVICE CERTIFICATION: This employee was borrowed from the department indicated above and his time was
devoted to the Functional Expense unit (s) as shown below:

C i t t

an the History of the Federal Eea@rre System* Brooking® Institution
Dept.

THvi -

See.

umber of Borrowing Dept.
Report be sed on :
Half-Hoiu
Periods
From & To

Chief or Assistant Chief

Half-Hour Periods

Volume of Work
}

3/30

3/29

*
i

3/31

9:00- 9:30
9:30-10:00
10:00-10:30
10:30-11:00
11:00-11:30
I

11:30-12:00

12:00-12:30 j

12:30- 1:00 1
1:00- 1:30
1:30- 2:00

2:00- 2:30

2:30- 3:0p 1
3:00- 3:30

;

3:30- 4:00 i
4:00-4:30 !

4:30- 5:00 •

5:00- 5:30 !

5:30- 6:00 j

6:00-6:30 |
6:30- 7:00

J
1

7:00- 7:30

7:30- 8:00 (

8:00- 8:30
8:30- 9:00

9:00- 9:30 [

! Urs. Mins. Hrs.

Totals
:

Mins.

"HriT

Miiis,

A .8

Mins. &rs.

Mins. Hrs.

Mins.

Miiis. ^ HrsT
|

INSTRUCTIONS
1. This report is to be prepared by an employee who:
a. Devotes any of his time to the work of any functional expense unit, other
than the unit to which the expense of his division or section is normally
charged.
b. Is loaned to another division or section, regardless of functional expense unit to which its expense is normally charged.
2. An employee in any of the above groups should write the code letters for each functional expense unit on which he works each day in the spaces provided along side the caption "Half-Hour
Periods From and To". The proper code letters should be obtained from the employee's supervisor or
chief. The time worked on each such unit in each half-hour period should be indicated by a check or
the number of minutes worked. The time recorded should exclude lunch or dinner periods of one halfhour or more for which no credit as time worked is allowed on the Weekly Time Card (Emp. 64), but
should include rest periods or any other periods during the day for which credit is allowed.
3. No allocation of time worked in excess of eight hours or for any time worked on a Saturday,
Sunday, or holiday should be made on this report, as such time is reported on the Weekly Time Card.
4. A separate daily time report should be prepared by an employee for all time spent on a
loaned service basis up to a maximum of eight hours. When an employee is loaned to another division or section
for part of a day or after the completion of a normal day's work in his own division or section, and he is required to work overtime in the borrowing division or section, a daily time report for loaned service must be
prepared for the difference between the number of hours worked in the employee's own division or section
and a total of eight hours. The "Loaned Service Certification" should be executed by the Chief or Assistant Chief
of the borrowing division and the report delivered to the division to which the borrowed employee is regularly
assigned.
5. An employee who devotes consecutive periods of, say, 15 or 30 minutes or perhaps less — depending
on the particular circumstances — to work for a given functional expense unit should maintain daily time records
by the clock as his time is consumed during the day. An employee who devotes only a few minutes at a time to
work for a given functional expense unit should at convenient times during the day (not less frequently than
twice a day — just before luncheon and at stopping time) record the time spent on the work of each functional
expense unit to the best of his recollection. Such cases should be kept at a minimum. The time recorded in such
cases may be based on the volume of items of work handled for each unit, with due regard given
to the complexity of each transaction handled so that the time recorded will reflect as accurately as possible
the actual time devoted to the work of each different functional expense unit. The employee should indicate, in
the space provided, which basis was used to record time allocation.
6. When inserting department numbers, clock numbers, and code letters, extreme care should be used
to have them accurate. Such numbers and letters are used in the preparation of reports, and inaccuracies may
cause considerable difficulty and will result in inaccurate reports. Codes and numbers should be verified
with the employee's supevisor or chief.

NOTE

THE BROOKINGS INSTITUTION1

lime reports should
be filled out and
submitted promptly
at the end of the
month.

MONTH!Y TIME R EPORT

To the Comptroller's Office:
I hereby submit the summary of my time i or the moni

th of Zehr.uary ? ...T...Jlar.GJrj...l2

19...5.5

Hourly rate
DAYS

ASSIGNMENT CODE*
NUMBER

Monthly rate
$
Number of worki n g houfs in
month*

. (Sign here)

Approved

LETTER

(For r- 'puting Clerk only)

r t - t i me w.:>rk
Nu

11 12

f] ,orn

Ft ;br

BVX

THE

MONTH

14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

uai ' 7 2 t ;o Ma:

I Cn

(

t e i • Gl a

TOTAL
HOURS

AMOUNT TO BE
CHARGED

i n ' rexi t O r y :

PTtll

Pa 3 k;

—

i
HOLIDAY
ANNUAL LEAVE
SICK LEAVE

* Assignment Codes obtainable froiz i Comptroller's office.

TOTALS

57 *

THE BROOKINGS INSTITUTION
MONTHL Y TIME REP(>RT

NOTE
lime reports should
be filled out and
submitted promptly
at the end of the
month.

To the Comptroller's Office:
I hereby submit the summary of my time i or the moni:hoi
Approved
. (Sign here)
D A Y S

ASSIGNMENT CODE*
NUMBER

1
1

CSI

LETTER

O F

T H E

(For '"'^nputing Clerk only

l/J

19 <

Hourly ratei

yip
—

—

11
|
1

i
I

HOLIDAY

ANNUAL LEAVE
SICK LEAVE

* Assignment Codes <obtainable fron L Comptroller's office.

M O N T H

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

Monthly ra:te
$
Number of worki n g hou:fs in
month.

TOTALS

TOTAL
HOURS

AMOUNT TO BE
CHARGED

HONORARY TRUSTEES
TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST, Vice
THUR STANTON ADAMS
NIEL W . BELL
ROBERT D . CALKINS
LEONARD CARMICHAEL
WILFRED L. GOODWYN, JR.
JOHN W . HANES
LEWIS WEBSTER JONES
JOHN E. LOCKWOOD
LEVERETT LYON
GEORGE C. MCGHEE
ROBERT BROOKINGS SMITH
LAURENCE F . WHITTEMORE
DONALD B. WOODWARD

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT
HARRY BROOKINGS WALLACE

Chairman

OFFICERS

0, J L <DL
7 2 2 JACKSON PLACE, N. W.

ROBERT D . CALKINS
President
MILDRED MARONEY
Treasurer
ELIZABETH H. WILSON
Secretary

March 3 1 , 1955

SHELDON B. AKERS
Executive Manager

Dear Mrs. Singer:
Thank you for your l e t t e r .
The $82 you mention
is I suppose part of the $98#U6 -which is on the b i l l as "cost of
stenographic work1*.
Also, thank you for calling our attention to the
$2.£2 as a personal charge to Miss Adams, and we will put this on her
bill.
Although the amount is small, this is another illustration
of the fact that we would not know this unless you t e l l us, as Mr. Akers
quite naturally assumed that i t was a project charge.
Incidentally, I think these explanations may in
future go directly to him as this is really our normal routine«
I
departed from this a little because of the fact that I was endeavoring
to reassemble this account along the lines of discussions I have been
engaged in with Miss Adams about the classification of this account*
However, at the end of this month I am going to
go over with him the way in which I believe she wants this done so that
we can all carry on consistently from that point»
Also, at the end of this month, the requested
quarterly statement for the Committee will be due,
in this connection,
I would like to point out that we have only just received the bill from
the Bank for the month of February, and would not in all likelihood receive
a bill for March until the end of April*
We can miisk either
render our account as of March 31 with the footnote that these March
charges at the Bank are not included or we can wait until this bill comes
inj or as a third alternative we can use an estimate which you would provide
Perhaps you had better let us know which procedure you would like to have us
follow*

Yours sincerely,

March 29, 1955

Miss Mildred Haronjsy
The Brookings Institution
Washington 6* D.C.

Dear Miss Maroney:
I enclose a copy of a letter to Mr. Woodward which
explains a little about the February bill from the Kew
lork Bank. I am sending the bill itself to Mr. Akers
today.
As you will note, $82•00 of the cost of stenographic
work should be charged to the Princeton Conference of
January 29th. I wish this were the last charge to that
account but I suspect that there will be one more» Certain
participants in that conference have indicated that they
wish to make some corrections in the transcript. We are
now asking for all participants to give us the corrections
they wish made. The charge for revising the pa^es affected
will have to be added to the Princeton costs.
I forgot to call to Miss Adams1 attention before she
left a charge for $2.52 for a book she bought through the
Bank. She will send you her personal check for this when
she returns.
Very sincerely yours,

Ellen C. Singer
Secretary

March 29f 1955
Mr, Sheldon B. Akers
The Brookings Institution
722 Jackson Pl?ce t»V,
Washington 6t B.C.
Dear Mr. AKers:
Enclosed Is the bill from the Hew York Bank for the
south of February. It has been approved by Miss Adams.
Under the procedure discussed by Miss Adams with Dr.
Calkins last week, routine bills of this nature do not
need to be approved individually by Mr. rfoodward.
Very sincerely yours,

Mrs. Singer
Secretary

HONORARY TRUSTEES

TRUSTEES
WILLIAM R. BIGGS, Chairman
"UNTINGTON GILCHRIST. Vice Chairman
-HUR STANTON ADAMS
.<IEL W. BELL
ROBERT D . CALKINS
LEONARD CARMICHAEL
WILFRED L. GOODWYN, JR.
JOHN W . HANES
LEWIS WEBSTER JONES
JOHN E. LOCKWOOD
LEVERETT LYON
GEORGE C. MCGHEE
ROBERT BROOKINGS SMITH
LAURENCE F . WHITTEMORE
DONALD B. WOODWARD

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT
HARRY BROOKINGS WALLACE
OFFICERS

6, JL <IL
7 2 2 JACKSON PLACE, N. W.

ROBERT D. CALKINS
President

IT.

WjLDlIEtfeMARONEY
V ELIZABETH
H. WILSON
Secretary

March 24-, 1955

SHELDON B. AKERS
Executive Manager

Mrs. Ellen C. Singer
Committee on tne History of the Federal Reserve
55 Liberty Street
ittew York 45, New York

Dear Mrs. Singer:

It has not been the policy of the Institution to make payment for
overtime to members of the professional staff. ¥e have occasionally
made such payments to stenographic and clerical employees when it was
specifically authorised.
While this statement does not seem consistent with the fact that
we previously paid you for a statement of overtime which was submitted
in connection with the November conference at Princeton, the fact is
that at that time we overlooked your classification as a member of the
professional staff. Hence, that payment should not be considered as
one which established a precedent.
A number of Brookings employees, including our research assistants,
frequently work overtime for which they do not receive extra compensation,
and we feel it would not be fair to them to make an exception in your
case.

Sincerely yours,

Sheldon B. Akers,
Executive Manager

MISC. 166 .5-42M-7-34

DAILY TIME REPORT
FUNCTIONAL EXPENSE DISTRIBUTION
NOTE:

Employees should read carefully the instructions printed on the reverse side
o f this form before making entries.

Name

Dept Number

Clock Number

Month

Day

Maiy

LOANED SERVICE CERTIFICATION: This employee was borrowed from the department indicated above and his time was
devoted to the Functional Expense unit (s) as shown below:

CoMftitte* on History of Federal Raaerr* 3jrst«* (Brooking Institution)
B RT
Number of Borrowing Dept.

Report based on:
Half-Hour
Periods
From & To

Chief or Assistant Chief

Half-Hour Periods

3/22/55

3/25/55

Volume of Work „

3/24/55

9:00- 9:30
9:30-10:00
10:00-10:30
10:30-11:00
11:00-11:30
11:30-12:00
12:00-12:30
12:30- 1:00
1:00- 1:30
1:30- 2:00

2:00- 2:30

X
X

2:30- 3:00

3:00- 3:30

3:30- 4:00

4:00- 4:30

4:30- 5:00
5:00- 5:30
5:30- 6:00
6:00- 6:30
6:30- 7:00
7:00- 7:30
7:30- 8:00
8:00- 8:30
8:30- 9:00
9:00- 9:30
krs.

Mins.

http://fraser.stlouisfed.org/
Totals
Federal Reserve Bank of St. Louis

Mins. Hra.

Ming, "Hrs*

Mins, Hrs.

Mini*

HrT

Mins* Bra,

Mins* Hrs.

Mins.

INSTRUCTIONS
1. This report is to be prepared by an employee who:
a. Devotes any of his time to the work of any functional expense unit, other
than the unit to which the expense of his division or section is normally
charged.
b. Is loaned to another division or section, regardless of functional expense unit to which its expense is normally charged.
2. An employee in any of the above groups should write the code letters for each functional expense unit on which he works each day in the spaces provided along side the caption "Half-Hour
Periods From and To". The proper code letters should be obtained from the employee's supervisor or
chief. The time worked on each such unit in each half-hour period should be indicated by a check or
the number of minutes worked. The time recorded should exclude lunch or dinner periods of one halfhour or more for which no credit as time worked is allowed on the Weekly Time Card (Emp. 64), but
should include rest periods or any other periods during the day for which credit is allowed.
3. No allocation of time worked in excess of eight hours or for any time worked on a Saturday,
Sunday, or holiday should be made on this report, as such time is reported on the Weekly Time Card.
4. A separate daily time report should be prepared by an employee for all time spent on a
loaned service basis up to a maximum of eight hours. When an employee is loaned to another division or section
for part of a day or after the completion of a normal day's work in his own division or section, and he is required to work overtime in the borrowing division or section, a daily time report for loaned service must be
prepared for the difference between the number of hours worked in the employee's own division or section
and a total of eight hours. The "Loaned Service Certification" should be executed by the Chief or Assistant Chief
of the borrowing division and the report delivered to the division to which the borrowed employee is regularly
assigned.
5. An employee who devotes consecutive periods of, say, 15 or 30 minutes or perhaps less — depending
on the particular circumstances — to work for a given functional expense unit should maintain daily time records
by the clock as his time is consumed during the day. An employee who devotes only a few minutes at a time to
work for a given functional expense unit should at convenient times during the day (not less frequently than
twice a day — just before luncheon and at stopping time) record the time spent on the work of each functional
expense unit to the best of his recollection. Such cases should be kept at a minimum. The time recorded in such
cases may be based on the volume of items of work handled for each unit, with due regard given
to the complexity of each transaction handled so that the time recorded will reflect as accurately as possible
the actual time devoted to the work of each different functional expense unit. The employee should indicate, in
the space provided, which basis was used to record time allocation.
6. When inserting department numbers, clock numbers, and code letters, extreme care should be used
to have them accurate. Such numbers and letters are used in the preparation of reports, and inaccuracies may
cause considerable difficulty and will result in inaccurate reports. Codes and numbers should be verified
with the employee's supevisor or chief.

March 19, 1955

Mr. Sheldon S« Akers
The Brookings Institution
722 Jackson Place »,V.
Washington 6, B.C.

Dear Mr, Akerss
I should have informed you long ago that on
Saturday, January 29th, I vorkod 10 hours of overtime.
Sine® sa^ hourly pay was
to 1

, I believe this works out

.
Siscer^ly,

Secretary

M I S C . I (56 .5-42M-7-54

DAILY TIME REPORT
FUNCTIONAL EXPENSE DISTRIBUTION

N O T E : Employees should read carefully the instructions printed on the reverse side

oft liis form before making entries*

Name

Dept. Number

Clock Number

Month

Day

Year

Maiy Daiy
LOANED SERVICE CERTIFICATION: This employee was borrowed from the department indicated above and his time was
devoted to the Functional Expense unit (s) as shown below:

CoaBaitte* on the Historvof til* Federal &*»#*?* Byntm Urookingo Institution)
Charge 8RT

Number of Borrowing Dept.

Chief or Assistant Chief

Report based on:- Half-Hour Periods
Half-Hour
Periods
From & To

3A5/55

3/W55 3A7/55

9:00- 9:30
9:30-10:00
10:00-10:30
10:30-11:00
11:00-11:30
11:30-12:00
12:00-12:30
12:30- 1:00
1:00- 1:30
1:30- 2:00

2:00- 2:30
2:30- 3:0P

X
X

X
I

X
X

3:00- 3:30

3:30- 4:00

X
X

4:00- 4:30

4:30- 5:00
5:00- 5:30
5:30- 6:00
6:00- 6:30
6:30- 7:00
7:00- 7:30
7:30- 8:00
8:00- 8:30
8:30- 9:00
9:00- 9:30
Hrs.

Mine.

*
http://fraser.stlouisfed.org/
Totals
Federal Reserve Bank of St. Louis

Hrs.
$

Mins. Hrs.

Mins.

TEST

Mins. Hrs.

Mins*

Hrs.

Mins.

Hrs.

Mins.

Hrs.

Mins*

INSTRUCTIONS
1. This report is to be prepared by an employee who:
a. Devotes any of his time to the work of any functional expense unit, other
than the unit to which the expense of his division or section is normally
charged.
b. Is loaned to another division or section, regardless of functional expense unit to which its expense is normally charged.
2. An employee in any of the above groups should write the code letters for each functional expense unit on which he works each day in the spaces provided along side the caption "Half-Hour
Periods From and To". The proper code letters should be obtained from the employee's supervisor or
chief. The time worked on each such unit in each half-hour period should be indicated by a check or
the number of minutes worked. The time recorded should exclude lunch or dinner periods of one halfhour or more for which no credit as time worked is allowed on the Weekly Time Card (Emp. 64), but
should include rest periods or any other periods during the day for which credit is allowed.
3. No allocation of time worked in excess of eight hours or for any time worked on a Saturday,
Sunday, or holiday should be made on this report, as such time is reported on the Weekly Time Card.
4. A separate daily time report should be prepared by an employee for all time spent on a
loaned service basis up to a maximum of eight hours. When an employee is loaned to another division or section
for part of a day or after the completion of a normal day's work in his own division or section, and he is required to work overtime in the borrowing division or section, a daily time report for loaned service must be
prepared for the difference between the number of hours worked in the employee's own division or section
and a total of eight hours. The "Loaned Service Certification" should be executed by the Chief or Assistant Chief
of the borrowing division and the report delivered to the division to which the borrowed employee is regularly
assigned.
5. An employee who devotes consecutive periods of, say, 15 or 30 minutes or perhaps less — depending
on the particular circumstances — to work for a given functional expense unit should maintain daily time records
by the clock as his time is consumed during the day. An employee who devotes only a few minutes at a time to
work for a given functional expense unit should at convenient times during the day (not less frequently than
twice a day — just before luncheon and at stopping time) record the time spent on the work of each functional
expense unit to the best of his recollection. Such cases should be kept at a minimum. The time recorded in such
cases may be based on the volume of items of work handled for each unit, with due regard given
to the complexity of each transaction handled so that the time recorded will reflect as accurately as possible
the actual time devoted to the work of each different functional expense unit. The employee should indicate, in
the space provided, which basis was used to record time allocation.
6. When inserting department numbers, clock numbers, and code letters, extreme care should be used
to have them accurate. Such numbers and letters are used in the preparation of reports, and inaccuracies may
cause considerable difficulty and will result in inaccurate reports. Codes and numbers should be verified
with the employee's supevisor or chief.

HONORARY TRUSTEES

TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST, Vice
ARTHUR STANTON ADAMS
DANIEL W . BELL
OBERT D . CALKINS
NARD CARMICHAEL
RED L. GOODWYN, JR.
. HANES
LEWIS WEBSTER JONES
JOHN E. LOCKWOOD
LEVERETT LYON
GEORGE C. MCGHEE
ROBERT BROOKINGS SMITH
LAURENCE F . WHITTEMORE
DONALD B. WOODWARD

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT
HARRY BROOKINGS WALLACE

Chairman

OFFICERS

£ , £B~ (BL

ROBERT D . CALKINS
President
MILDRED MARONEY
Treasurer

7 2 2 JACK6ON PLACE, N.W.

C*
R

March 7 ,

Miss Mildred Adams, Executive Director
Committee on the History of the Federal
Reserve System
33 Liberty Street
New York l£, New York

r - « #<"%>
E

ELIZABETH H . WILSON

f B. AKERS
Executive Manager

COMMITTEE CD THE HISTORY
Or VHH
FEDERAL RESERVt. SYSTEM

Dear Miss Adams:
This letter is an answer to yours of March 3* with particular
reference to the question whether Mr, "Woodward should authorize all
expenditures or, if not, how much or what sort of expenditure could be
exempted from this requirement*
The other day when we were working on the budget format, you
also raised this issue and I deliberately refrained from expressing
an opinion because of my own uncertainty. I agree with you that it
would be burdensome to Mr* Woodward to have every little thing cross
his desk, and this might also create delays. On the other hand, as
I stated, the lines of authority have never been wholly clear.
For operations which lie entirely within the Institution,
Mr. Calkins is in the last analysis responsible for all expenditures,
as he is under our bylaws charged with financial administration, but
although we are quite rigid about holding salaries within the framework
of presidential appointments and authorizations, Mr. Akers and I do not
feel called upon to clear innumberable other details of expenditure
with him. Instead, we work within the framework of budget provisions,
understandings between the president and project directors with respect
to authority he has delegated to them, and so on. We pass questions
to the president when conditions are peculiar or when there is a
threat of overrun or when for other reasons it is our judgment that he
should be consulted.
I had an opportunity to discuss your problem with Mr. Calkins
tnis morning, and he advised me to write you to this effect; He says
there "was an understanding that the Committee would appoint someone to
authorize expenditures, and it appears that Mr. Woodward is the person
who has been assigned this responsibility. Therefore, he suggests
that Mr. Woodward is the person to be consulted regarding the extent
to which he wishes to be burdened with details or to delegate his
authority.

Miss Adams

March 7, 1955

Mr. Akers and I would appreciate it if you will let us know of
lir. Woodward's reaction to this problem^ in order that we will not be
in the position of disbursing funds without proper authorization,
I will certainly call at your office if I do come to l^ew York.
I had hoped for personal reasons to come this spring for two days, but
I may have to postpone it.

Sincerely yours,

Treasurer

March Z, 1955

Mrs. Ellen C. Singer
Committee on the History of
the Federal Reserve System
33 Liberty Street
New York 45, New York

RECEIVED

COMMITTED ON THE HISTORY

OF THE
FEDERAL RESERVE SYSTEM

Dear Mrs. Singer:
I am very happy to report that effective
March 1 your salary will be increased to the
annual rate of $
. We are very pleased to
make this advance in recognition of the excellent
service you have rendered.
Sincerely yours,

President

cc:

Mr. Woodward
Miss Adams *
Mr. Akers
Miss Maroney
Mrs. Wilson

B&ssk B i l l , Fsbm&iy 23, 1955

Of the $S%15 charged
, #24*35 repreaeat* the cost of reproducing
k
&%& should b* cfearged to the first Princeton
fh® res«ioli3£ #34*SO l l the coat ©f photoat*ttl&g etrtain
?• Curtis %Bd i s part of the regular of fie® work.
fr^ fjorp^rfttion Bi^t This b i l l i s for
ordered fet J>r. ChenSltr* • beh««t« His cheek for Ike 120.00 i»
reii§hir»«m#nt i s
connection vith the s^coiid Fri»c«to» eonferesce arid should be
charged to it*

Approved i

Expense Reports, January and February, 1955

Miss Mildred Adams

$26.51
10.01

trip to Cleveland
trips to Scarsdale, business lunch
trip to Atlanta

28.58

trip to Washington

Miss Marguerite Burnett

5*41

trip to Hyde Park

Mrs. Ellen C. Singer

5*41

trip to Hyde Park

5.82

trip to Princeton, miscellaneous
errands in New York

Approved*.
Donald B. Woodward

Out-of-Focxet Expona«a Incurred in Coxmsetica »'it& the
Princeton Coafer#se«, Jftimary 29, 1955

Douald B.

K&rch 7, 1955

Dear Hiss Maroney:
for your good l e t t e r of the 4-th of
March vhich clarifies for us the relationship between
your responsibilities and those of Mr, Akers* I a&
p&ssiag i t on to Krg» Singer, and ve will try to see
taut {&} expense vouchers go to Mr* Ak*rs find (b) docamsate affecting bud&etar/ problems or accounting
l»roo«dureB go to you»
I t i s a greet help to be able to see these
matters *in the round*11 We ere a l l grateful to you
and looking forward to seeing you
Cordially yours,

Kiss Mildred M&roaey
The Brookiags Institution
722 Jfeckson Place «• W.
6, D. C.
• Mr* ¥oodv»rd

HONORARY TRUSTEES

TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST, Vice
ARTHUR STANTON ADAMS
DANIEL W . BELL
ROBERT D . CALKINS
.EONARD CARMICHAEL
/ILFRED L. GOODWYN, JR.
JOHN W . HANES
LEWIS WEBSTER JONES
JOHN E. LOCKWOOD
LEVERETT LYON
ROBERT BROOKINGS SMITH
LAURENCE F . WHITTEMORE
DONALD B. WOODWARD

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT
HARRY BROOKINGS WALLACE

Chairman

OFFICERS
ROBERT D . CALKINS
President

6, JL C

MILDRED MARONEY
Treasurer

722 JACKSON PLACE, N. W.

ELIZABETH H. WILSON
Secretary
SHELDON B. AKERS
Executive Manager

Dear Miss Adams:
perhaps the enclosed excerpts from our Handbook
for Officers snd Trustees will clarify for you the confusion with
respect to functxons of Mr, Akers and myself,
In some respects, they are separate and distinct;
xn others they overlap.
The overlap xs present principally
in connection with the disbursement of fundsr and although this
would seem offhand to xnvolVe an element of duplicativeness xt xs
really a very good thxng because xt represents a system of xnternal
audit, particularly xn areas which might not be covered tyy external
audit.
Mr. Akers represents the president, to whom he xs
assistant and to whom he x£ responsible, whxle I am responsible
directly to the Board of Trustees.
Generally speaking, letters of appointment or other
papers bearing on changes xn personnel are circulated to Mr. Akers,
to myself, and to Mrs. Wilaon a s Secretary of the Corporation.
That xs to sayr thxs xs Dr. Calkins1 practice.
This assists me
with budget preparation, for which I am presently responsible on a
de f?cto basis, and assists both Mrs. Wilson and me in connection
with current development of a central personnel file.
On the
other hand, Mr. Akers xs responsible for initiating payments of all
typesi which I merely finalize.
I would say that xt xs
probably not necessary for you to send any routine papers to Mrs.
Wilson, and that ordinary^ expense^ vouchers^Mj^_te ^ ^ _ o n ^ j t o t w ^
Mr. Akers.
As a ruleT these are attached to checks where I may
irispect^them at the poxnt of signature, and I return them to the
accountant for the voucher file u^derlyxng aocounts.
In other words,
while I am in charge of the latter as chief accounting officer, it xs
not necessary to send them directly to me.
I would appreciate, however^ receiving copies of any
documents which xn your judgment will affect budgetary problems xn any
significant wayf or will affect accounting procedures.
Yours sincerelyf

Treasurer.

Excerpts from the Handbook for Trustees and Officers,
The Brookings Institution, Washington, D. C. » November
"Treasurer ,
The Treasurer ties the care and custody of all funds
of the Institution and is required to deposit same in such dank or banks,- trust
companies,-- or depositaries, as the Board of Trustees or the Executive
Committee shall designate.- He is responsible for disbursing all moneys r
signing all checks, Dills of exohange, and orders for payment of money/ in
accordance with authorizations given by the Board of Trustees or the
Executive Committee.
He also performs all the acts incident to the
position of Treasurer and may, in the discretion of the Executive
Committeef be required to give an appropriate bond.
(By-Laws r Art. Ill,
c y.)
The Treasurer is the chief accounting officer of the Institution."

"EE&ecutive Manager.
The Executive Manager of the Institution
performs the general functions of business manager and comptroller and
such additional managerial duties as may be delegated to hi^m tyy the
President.
In his capacity as executive manager his duties include
responsibility for the operation of rental properties, the Institution
Building, and the dining room, and he acts in an advisory capacity to
personnel with regard to their duties, rights, and privileges.
In his
capacity as comptroller his duties include responsibilit: for certifying
bit's -nd expense accounts for payment by the Treasurer, the purchasing
P nd distribution of supplies/ the preparation of payrolls,- and the
handling of work r-cords and annuity contracts'.
He also assists
the Finance Committee m the management of the investment portfolio.
(Ex, Com., ll/jj/5^, 136-0

March 3, 1955
Dear Miss Jiaroney:
Mrs. Singer and I have gone over the various suggestions
vnich you made during our very interesting discussion in Washington. She says that it is a great help and that she now understands much better the difficulties and the problems which you
have been facing.
Both of us are looking forvard to your promised visit
here in Hew York. Vhen you come I hope we can pick up another
angle of this tiling, and that is the matter of hov much authorization snould be asked from Mr. Woodward on expenditure items before
we send them to you at Brookings* Like all the members of this
Cosaaittee, ha is such a busy person that I try to spare him as
much detail as possible. On the other hand, both of us ere eager
that here, as in the matter of budget and accounting, the formula
be found which satisfies the needs of your office as well as of
this one*
Bo let us know when you are coming, and cone before long
if you want to see The Saint of Bleeker Street.
Thanks again for all your good help.
Cordially yours,

Kildred Adams
MiS3 Mildred Karoney
The Brookings Institution
722 Jackson Place 8. W.
Washington 6, D* C.

Mr.rch 2, 1955

Mr, Sheldon B. Akers
The Brookings Institution
722 Jackson Place N.W.
Washington 6, D* C,
Bear Mr. Akers:
Enclosed are the time reports for Miss Burnett, Miss
Burstein, and Myself for the isonth of February.

l^r Sociftl Security number iss
Sincerely,

Secretary

COMMITTEE ON THE HISTORY OF THE FEDERAL RESERVE SYSTEM

February H> 1955
Dear Miss Meroneys
lour l e t t e r of February 11th, with a modified expenditure report,
has j u s t come.
I agree entirely that there i s no reason a t a l l why Brookingg
should absorb the 1150.00 for Mrs. Goldenveiser. The Committee agreed that
the money should be paid out of Committee funds, and there i s eTery reason
for treating I t as a separate item, (By the way, may I correct an inadvertent s l i p in your l e t t e r * The payment was made for the shipment, not of
the Glass papers, but of the Goldenweiser papers. I take i t t h i s was a
gremlin in the typewriter.)
As for your readjustment of the statement in the matter of
Brookings "expenses and overhead,*1 that seems to me to satisfy both the i n formal agreement on a lump sum and the statement in the written agreement
that Brookings "would render accounts to the Committee* I hope I xaade clear
that ay concern in this matter i s purely one of wanting the record to be
straight so that our operations coincide as nearly as possible vith our
expressed intent*
A3 for duplicates, we will need 3 &ore for the Executive Committee
meeting on Monday. I will be most grateful i f you can get these to us by
Friday.
Hrs. Singer will try in the future to send you sore d e t a i l s about
the purpose of the various vouchers that go to you. Thanks so much for
your valuable aid.
Yery sincerely yours,

Mildred Adams
Miss Mildred Maroney
The Brookings I n s t i t u t i o n
722 Jackson Place W. W.
Washington 6, D. C.

February 7, 1955
Dear Miss Maroneys
In the matter of the honoreria, concerning vhich you
phoned me this morning, the original proposal that & fee of $100
should be sent to each of the three consultants was based on the
b e l i e f that this would be in recognition of their work at the
Hoveaber conference*
The Hoveaber conference had a sequel at Princeton on
January 29th. I recently took up with Mr. Woodward the matter of
paying the honoraria* He consulted Mr* Sproul, and their judgement i s that in view of work done and time spent, two fees of
one-hundred dollars each should be sent to Dr* Wood and one to
Dr. Bopp and to Dr. Chandler*
Mr* Woodward has prepared a l e t t e r of thanks which should
accompany the checks* I f you would therefore draw a check for
$200*00 for Dr* Eiaer Wood, $100*00 for Dr. Karl Bopp and $100.00
for Dr* Lester Chandler and send them to us here, I w i l l see that
they go with Mr* Woodward's l e t t e r s to the proper recipient*
f ery sincerely yours,

Mildred Adams
Approved /O<Srrv^^^crrtXxv>^*V.
Donald B. Woodward
Mies Mildred M&roney
The Brookings Institution
722 Jackson Place »• V.
Washington 6, D* C*

February 4, 1955
Dear Miss Blodgett:
Will you please make the following reservations for Miss Adams
and pot thea on the account of the Committee on the History of the
Federal Reserve System, Srookings Institution.
Bound trip FmllmaJB ticket. New lork to Atlanta and
on Soyttfaeraert leaving S.I. 4*35 ?****
February 14,, arriving Atlanta 9t30 *•*•* February
15j
Eeservation,
hotel in Atlanta, February 15# and 16. Miss
Adams will check out on Thursday,. February 17.
Eooaette, on train leaving Atlanta, Thursday afternoon*
February 17, arriving Kew lork, Friday aK>rningf
February 18.
Hope this is clear. Thanks in advance for sending me SQSB©
more forms*
Very sincerely,

Secretary
Miss Loretta Blodgett
Federal Reserve Bank of Mew lork
lew fork 45, Hew lork

February U> 1955
Dear Miss M&roneyj
Tnanks eo much for your good l e t t e r of February 1st
with i t s enclosed accounting of the period of the pilot
project and the f i r s t six months of the m»jor grant* I t i s
a wonderful job, and we are UOB% grateful•
In sinking up n mmmazy for the present use of the
Executive Committee, I here geared i t as closely as possible
to the budget classifications. This h&.s necessitated taking
Miss Burnett, for
vho® special budget©rjr provision ^»» made
under "projects, 11 out fro© the it«R of sf&&ri®& and putting
her into the project classification* I hope this divergence
doesnH do too such violence to ^our accounting technique*
As far as the Brookin&s iteui of $3000 i s concerned,
I agree vith you that i t has an *dfcinietretive rather thsn
& subetcatire connection vitk the project. If you fere content to leave i t es e general figure, I certainly aa*
Thanks again for so eleur and euick • report*
Cordially yours,

Mildred Adams
Miss Mildred M&roney
The Brookings Institution
722 Jackson Place H* V*
Washington 6, D* C.

February A, 1955

Dear Miss Maroney:
I-am.sorry that my telephone call missed you the
other day* My own ignorance of bookkeeping is such
that I need to be reassured by an expert as to the
meaning of figures• I had not seen the letter which
accompanied the statement of expenditures and therefore
was not sure that the conference costs were included.
May I add one minor point: Miss Adams does not
use a middle initial in her professional name.
Thank you for your explanatory note.
Very sincerely yours,

Secretary

Miss Mildred Maroney
The Brookings Institution
722 Jackson Place N.¥.
Washington 6, D.C.

February 2, 1955

Pear Mr. Akers:
I enclose the check which I have already
discussed with you on the telephone. The total
Bank bill for December, $4-67.73 > should be paid
by one check, and $8.70 should be paid directly
to the Rational Records Management Council at
50 East 42nd Street, Hew York 17.
I am sorry I did not make this clear when I
sent you the two bills.
We are having a wonderful snowy day in
$ew lork. I d o n H know whether to wish the sasie
for you in Washington or not.
Sincerely,

Assistant
Mr. Sheldon B. Akers
The Brookings Institution
722 Jackson Place N.W.
Washington 6, B.C.

January 31, 1955

Dear Mr. Aktrs*
I here just written Mrs. Maxwell Clueti* a secretary
In the Economics Department of th© university of Virginia,
engaging her to stake & second run of the ateneils of the
Klnc&lti Inventory. She ssade the original copies under Dr#
Kisc&id's direction.
Supplies of paper and isk will cost about $20.00 end
she will also have to pay an estimated express charge of
#15*00 for shipping the completed copies to Mew lork. In
view of these expenses, I hfeve written Mrs. Cluett that
the Brookings Institution will adv&Bce her $20*00 for
expenses* k copy of asy letter is er*close<i.
Mrs. Cluett, who sigcs herself as Lucy Cluett,
thinks thst it will take $0 hours to nuaber Hie stencils
&I2& make 25 complete copies. Her salary is
»n
hoar* She will report her time O R a Brookings time
Sheet whets th© job is completed.
I hope that this kind of letter is sufficient basis
for seeding an advance.
Very sincerely yours,

Mildred
Mr. Sheldon B. Akers
The Brookings Institution
722 Jackson Place S.W.
Washington 6, D.C,
Copy to Mr. Woodward

January 27, 1955

Dear Mr. Akers:
I enclose two bills, one for the month of December
from the New York Bank> and one from the National
Receixis Management Council• The second bill is for
postage and insurance on a package of papers which
they sent at Miss Ite^l request to the Library of the
University of California.
Sincerely,

Assistant

Mr. Sheldon B, Akers
The Brookings Institution
722 Jackson Place H.W.
Washington 6, D^C.

January 27, 1955

Bear Miss McCarthy;
My leave record for Miss Burnett agrees with your figures
and I am sorry that I did not let you know she had over-used
her accumulation of sick leave. She has not used any leave
this month and therefore} if she is not out O K Friday or Monday,
the over-run can be taken care of. I shall send you the time
sheets for this month on January 31st.
I have just returned fro® s^y third visit this month to
the local Social Security office. They assure me that I shall
receive & letter telling me my number within a week.
Sincerely,

Assistant

Miss Ruth McCarthy
The Brookings Institution
722 Jackson Place N*¥.
Washington 6, B.C.

TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST, Vice
ARTHUR STANTON ADAMS
DANIEL W. BELL
ROBERT D . CALKINS
LEONARD CARMICHAEL
^
L. GOODWYN, JR.
^
W. HANES
EWIS WEBSTER JONES
JOHN E. LOCKWOOD
LEVERETT LYON
GEORGE C. MCGHEE
ROBERT BROOKINGS SMITH
LAURENCE F. WHITTEMORE
DONALD B. WOODWARD

HONORARY

TRUSTEES

ROBERT PERKINS BASS
Chairman

MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT
HARRY BROOKINGS WALLACE

OFFICERS
ROBERT D . CALKINS
President
MILDRED MARONEY
Treasurer

7 2 2 JACKSON PLACE, N. W.

ELIZABETH H. WILSON
Secretary
SHELDON B. AKERS
Executive
Manager

January 25, 1955

RECEIVED
Mrs. Ellen Colt Singer

JAN 2 G 1955

Committee on the History of ttie Federal Reserve System
33 Liberty Street
COMMITTEE ON THE HISTORY

Mew York A5, New York
'

,.nro41 ?f ™ £
FEDERAL RESERVE SYSTEM

Dear Mrs. Singer:

In preparing the material for tne January payroll we notice that
Miss Burnett has apparently over-used her accumulation of sick leave.
According to our records, her accimulation is as follows:
October 13 - 30
November 1 - 3 0
December 1 - 3 1

5 hours
8
"
21

Her card shows tnat she used eight hours in November and sixteen in
December, a total of 24 hours. If you recall, Miss Burnett actually
was absent four days in November and it was agreed at that time that she
would be paid for one and that we would consider the other three days as
leave without pay* Of course, Miss Burnett will have accumulated eight
hours1 sick leave for the month of January and if she used none during
the month, the three-hour over-run will have been taken care of and no
adjustment will be necessary* In any event, we will need her time sheet
before we can make the computation.
It was mentioned in November that she would make up the time at
the end of her appointment and would be paid at that time. I am sure
that any over-run now could be handled in the same way.
If these leave figures do not agree with your records, would you
let me know? In tne meantime, we shall hold trie payroll checks until we
hear from you and receive the time sheets and your social security number.

Sincerely yours,

Assistant to Executive Manager

January 24* 1955
Memorandum
Brookings Expenses and Overhead

After talking vita Mr, Woodward by telephone, I celled Kiss Maroney
Monday, January 24, 1955 to explain that the $3,000 tOlotted in the budget for
Brookings expenses and overhead was an arbitrary figure brought up by Dr, Calkins
at tiie tine of budget making• So far es we were aware, i t was presented as a
lump figure with no breakdown and no expressed relationship to the contingency
figure of $15,000 or the total budget allotment for the year.
Miss Maroney1s point seemed to be that, as so much of the work of this
Committee i s in the field rataer than requiring work by the headquarters staff a t
Brookings, the charge seemed too large,

I reminded her that Brookings i s doing

the bookkeeping and providing aid when I am in "Washington, She will take up
with Dr. Calkins the Matter of proportions and possible breakdown and will try to
arrive at a figure which seems more in line for use in the budget of 1955-56#
I told her that the entire budget was presented on the basis of intelligent
guessing, as we had had no experience to go on* She seid that no written reply
was necessary,

HA l i b

This memorandum i s merely to record the conversation.

HONORARY TRUSTEES

TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST, Vice
ARTHUR STANTON ADAMS
DANIEL W . BELL
ROBERT D . CALKINS
LEONARD CARMICHAEL
WILFRED L. GOODWYN, JR.
JOHN W . HANES
LEWIS WEBSTER JONES
JOHN E . LOCKWOOD
LEVERETT LYON
GEORGE C. MCGHEE
ROBERT BROOKINGS SMITH
LAURENCE F. WHITTEMORE
DONALD B. WOODWARD

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT
HARRY BROOKINGS WALLACE

Chairman

OFFICERS
ROBERT D . CALKINS
President
MILDRED MARONEY
Treasurer
ELIZABETH H. WILSON
Secretary

January 17, 1955

SHELDON B. AKERS
Executive Manager

Mrs, Ellen Colt Singer
Committee on the History of the Federal Reserve System
55 Liberty Street
New York 45,flewYork

Dear Mrs, Singer:

Some months ago, you will recall, we requested your Social Security
number and you advised us that it had been lost but that you were filing
an application for a duplicate*
It was necessary for us to report your wages on our Quarterly Return
for the period ending September 50, 1954- without an identifying number
for you. The Department of Health, Education and Welfare has now sent
us a request for your number* Before the end of January we must also file
our Quarterly Return for the period ending December 51, 1954* We would,
therefore, appreciate your sending us your Social Security number by about
January 24*
On January 5, in response to your request, we sent you a supply of
monthly time sheets* We have not yet received time sneets for December
from you and Miss Burnett* Could we have them soon so that we can complete
our payroll distribution?

Sincerely yours,

sistant to Executive Manager

: THE HiS

HONORARY TRUSTEES

TRUSTEES
WILLIAM R. BIGGS, Chairman
HUNTINGTON GILCHRIST, Vice Chairman
ARTHUR STANTON ADAMS
DANIEL W . BELL
ROBERT D . CALKINS
LEONARD CARMICHAEL
WILFRED L. GOODWYN. JR.
JOHN W . HANES
LEWIS WEBSTER JONES
JOHN E . LOCKWOOD
LEVERETT LYON
GEORGE C. MCGHEE
ROBERT BROOKINGS SMITH
LAURENCE F . WHITTEMORE
DONALD B. WOODWARD

ROBERT PERKINS BASS
MRS. ROBERT S. BROOKINGS
JOHN LEE PRATT
HARRY BROOKINGS WALLACE

WC\$

OFFICERS

ROBERT D . CALKINS
President
MILDRED MARONEY
Treasurer

722 JACKSON PLACE, N. W.

ELIZABETH H. WILSON
Secretary

January 5, 1955

SHELDON B. AKERS
Executive Manager

Mrs, Ellen Colt Singer
Committee on the History of the Federal Reserve
53 Liberty Street
New York 45, Mew York

Dear Mrs* Singer:

In response to your letter of January 4- addressed to Mr* Akers, I
am sending a supply of time reports under separate cover.
The explanation of the different dates on your checks is this: it
is our practice to prepare the payroll a few days before the end of the
month and to date the checks on that day. Since our machine has only one
date slug it is necessary to use that date both on the check and on the
stub. As far as the records in our office are concerned, however, the
pay period actually ends on the last day of the month.
With regard to Miss Bursteinfs checks, although she was appointed on
a weekly basis, our pay period is on a monthly basis. We have been
dividing her weekly rate by five and multiplying the result by the number
of working days in the month. As it happened, there were twenty-two working
days or paid holidays in November and twenty-three in December.

Sincerely yours,

Assistant to Executive Manager

RECEIVED
JAN
u CM TH
OF THE

January £, 1955

Dear Mr.
I am ash&aed to admit that I have allowed our supply of
time reports to get too low, I ©selose Miss Burstein* s report
for the month of December• I will send along Kiss Burnett's
ay own as soon as we get a supply from you.
I have two questions to ask you in connection with
salary checks. The checks for the month of November were
dated for the period ending Boveiaber 22j the December
checks were dated for the period ending December 28. Can
you tell me the reason for this?
My other question has to do with Hiss Burstein1s
salary. She has been working for two months now end
has received two salary checks. The first was for
(grol® pay) and the second
According to our
calculations in this office, Mis3 Burstein should have
received
for two months* work at a salary of
a week, whereas she has received
• I an sure that,
like ray first question, there is some simple explanation
for this which you can tell me.
Sincerely yours,

Secretary

Mr. Sheldon B, Akero
The Brookings Institution
122 Jackson Place fl.V.
Washington 6, B.C.

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