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RECEIVED 0CT241955 COMMITTEE ON THE HISTORY OF THE FEDERAL RESERVE SYSTEM PROFESSIONAL RESEARCH PERSONNEL IN THE FEDERAL RESERVE SYSTEM October 1, 1955 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Winfield W, Riefler, Assistant to the Chairman Woodlief Thomas, Economic Adviser to the Board BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH AND STATISTICS Principal Field of Activity Title Research Officers: Young, Ralph A. Director Garfield, Frank R. Adviser on Economic Research Williams, Kenneth B. Assistant Director Business Developments. Burr, Susan S. Assistant Director Publications and Research Services. Noyes, Guy E. Assistant Director Regional Research and Administration. Koch, Albert R. Assistant Director Financial Developments. Professional Research Staff; Banking Section Eckert, James B. Chief Cagle, Caroline H. Economist Banking structure; bank earnings and taxes; bank capital• Dingle, Mona E« Economist General money and banking, particularly theoretical and analytical problems; general credit control instruments. Harrington, Mary Jane Economist Current developments; technical correspondence. Snyder, Edward P. Economist Deposit ownership; bank debits; deposit turnover; money supply; bank loans and investments. Solomon, Robert Economist Money and. bankings-special • studies. Swindler, Edwin J. Economist Currency in circulation; regional flows of funds; reserve projections; interest rates on business loans• -2BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH AND STATISTICS (Contd.) Title Principal Field of Activity Professional Research Staff: Government Finance Section Miller, Donald C. Chief Campbell, Colin D. Economist Treasury estimates. Chapin, Harold F. Economist Government security market. Hellmuth, William Economist Taxation and fiscal policy. Seir, Peter-M* Economist Government security market. Me Cloud, Lyndall C. Economist Treasury receipts and expenditures. Business Finance and Capital Markets Section Brill, Daniel H. Chief Frase, Eleanor Stockwell Economist Business finance and capital markets - over-all profits and corporate sources and uses of funds estimates and projections; special business finance and capital markets studies. • Moss, Robert R. Economist Capital markets - estimates and projections of institutional investor sources and uses of fundsj corporate security financing; special projects in capita markets area. Pickering, Richard C. Economist Capital markets - State and local government long-term financing; pension and trust fund investment activities; individuals1 savings• -3BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH AND STATISTICS (Contd.) Title Principal Field of Activity Professional Research Staff: Business ' Gehman, Clayton Chief Allen, Philip T. Economist Agriculture, including agricultural credit. Altmann, Murray Economist Commodity prices. Crockett, David C. Economist Production index research. Freedman, Bernard N. Economist Inventories and trade. Manookian, Edward A. Economist Current industrial productior Morelle, Wilellyn Economist Agriculture, including agricultural credit. Moss, Milton Economist Consumer goods and productior index research. Schwartz, Maurice H. Economist Current industrial production Trueblood, Lorman C. Economist General business and production developments. , National Income, Moneyflows, and Labor Section Weiner, Louis Chief In charge of national income and labor research. Culbertson, John M. Economist Gross national product. Hurley, Evelyn H. Economist Flow of funds—foreign sector Moore, A. Jane Economist Labor. Sigel, Stanley J. Economist In charge of flow-of-funds research* Taylor, Stephen P. Economist Flow of funds—business sectors• -INOF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH AND STATISTICS (Contd.) Title Principal Field of Activity Professional Research Staff: National Income, Moneyflows, and Labor Section (Contd.) Wendel, Helmut Economist Flow of funds—financial institutions sectors. Wernick, Murray S. Economist Labor and manpower research. Yager, Charles A. Economist Income and consumption* Consumer Credit and Finances Section Jones, Homer Chief Broida, Arthur L. Economist Consumer Finances Survey. Flechsig, Theodore Economist Construction, real estate, and real estate credit. Frechtling, John A. Economist Consumer Finances Survey. Johnson, Alfred P. Economist Retail trade credit* ICLaman, Saul B. Economist Construction, real estate, and real estate credit. Nelson, Elsie T. Statistical Assistant Current consumer credit estimates for financial institutions. Pawley, Francis R. Economist Structure of consumer financing industry. Reil, Katharyne P. Economist Consumer credit—special studies. Smith, Paul F. Economist Consumer credit. Smith, Tynan Economist In charge of consumer credit and consumer finances survey. -5BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH AND STATISTICS (Contd.) Title Principal Field of Activity Professional Research Staff: Consumer Credit arid Finances Section (Contd.) Webster, P h i l i p Economist Current retail credit estimates. Yijood, Ramsay Economist In charge of construction, real estate, and real estate credit. Regional Research Thompson, Orville K. Economist In charge of department store statistics. Monthly Reviews, Research Budgets of the Banks, and System Research committee matters. Fry, Edward R< Economist Department store trade statistics. Administration Millea, Gerald F. Administrative Assistant Division administration and personnel. Economic Editing Butler, Marie Economist (Editorial) Coordination of Division's activities in planning, editorial review, and writing for Bulletin (articles, reports, etc.), Monthly Current Economic Developments, Annual Report, technical studies, and special publications. Sette, Elizabeth B. Economist Coordination of Division's activities on regular monthly and nistorical chari books, tabular section of Bulletin, and special statistical publications. Research on Government corporations and credit agencies -6BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH AND STATISTICS (Contd.) Principal Field of Activity Title Professional Research Staff; Library Sutherland, Alvern H. Chief Librarian Research reference service. Economic Illustrating Grunwell, Helan R. Chief Draftsman Economic illustration material. BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF INTERNATIONAL FINANCE Title Principal Field of Activity Research Officers? Marget, Arthur 1. Director Denibitz, Lewis N. Assistant Director Professional Research Staff: Administrative Staff Thome, Wendell E. Assistant to the Director Liaison, editorial, statistical, personnel, administrative and service functions. Editor, Review of Foreign Developments. Ernst, Rosa Economist (Editorial) Editor, Weekly Review of Periodicals"! Crews, Esther G. Supervisor International Information Center. Financial Operations and Policy Section T&naagna, Frank Mi Chief Axilrod, Stephen Economist International Bank for Reconstruction and Development; Export-Import Bank; foreign assistance and military aid programs$ foreign investments and economic development; long-term capital movementt Garber, Margaret R« Statistical Assistant Foreign gold reserves; gold movements, markets, production and uses; silver. Smith, Nancy Statistical Assistant Foreign dollar balances and international short-term capital movements; foreign operations of Federal Reserve Banks, ExportImport Bank and International Bank. -2BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF INTERNATIONAL FINANCE (Contd.) Title Principal Field of Activity Professional Research Staff; Special Stn&iae Section Hersey, Arthur B. Chief Reynolds, John E. Economist Foreign monetary, fiscal and balance-of-payments studies; GATT; commodity markets. Summers, Thomas Economist U. S. and other countries1 trade and balance of payments. Miller, Mary F, Statistical Assistant U. S. foreign trade statistics. Western European and British Commonwealth Section Furth, J. Herbert Chief Dahl, Frederick R. Economist Netherlands and the Scandinavian Countries, Australia, and New Zealand Harris, Elinor R. Economist France, Italy, Belgium, Luxembourg, Spain, Portuga and their overseas territories except Indo-China. Katz, Samuel I» Economist United Kingdom and the British Commonwealth excluding Australia, New Zealand, India, Pakistan, Ceylon, and Malaya. Central and Eastern European Section Wood, Ralph C. Chief Grimwood, Gordon B. Economist Germany, Austria, Yugoslavic Finland, Liberia, Libya, and Ethiopia. Maroney, Mary M. Economist Greece, Turkey, and Near Eastern Countries. -3BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF INTERNATIONAL FINANCE (Contd.) Title Principal Field of Activity Professional Research Staff: Far Eastern Section liJhittington, Floyd L. Chief Irvine, Reed J. Economist Japan, Chin Hong Kong Korea. Maroni, Yves Economist South Asia. Latin American Section Olson, Ernest C. Economist in charge of Section Argentina, Uruguay, Paraguay; Mexico, Guatemala, and El Salvador. Helprin, Dorothy L. Economist Brazil, Cuba, Haiti, Dominican Republic, Costa Rica, Panama, Honduras, and Nicaragua. Rollins, Charles E. Economist Chile, Peru, Bolivia, Ecuador, Columbia, and Venezuela. FEDERAL RESERVE BANK OF BOSTON Title Principal Field of Activity- Research Officers; Ellis, George H. Director of Research In charge of research. Willis, Parker B. Financial Economist Monetary and fiscal policies and developments. Professional Research Staff: Anderson, Paul S. Assistant Financial Economist Regional finance. Coughlin, Marguerite I» Industrial Statistician Industrial statistics. DiGiannantonio, Eleanor Librarian In charge of library. Eisenmenger, Robert W. Forestry Economist Forestry and wood using industries. Gilmore, Donald R. Industrial Economist, Regional Industrial and business conditions—regional • Mitiguy, Harold Agricultural Statistician Agricultural developments. Pearson, Harold T. Financial Statistician Financial statistics. Price, Harold Industrial Statistician Industrial and business conditions—national. Robinson, Romney Regional Economist Foreign trade and regional economics. Sherman, John M. Industrial Statistician Industrial statistics. Smith, Howard G. Trade Statistician Retail trade and vacation business statistics. Thayer, Jarvis M., Jr# Acting Manager and Trade Economist Supervisory, retail trade, editor of Monthly Review* Thompson, Eleanor financial Statistical Clerk Financial statistics. Wakefield, Elizabeth Financial Statistical Clerk Editing of Monthly Review and supervision of chartir FEDERAL RESERVE BANK Of NEW YORK Title Principal Field of Activity- Research Officers: RoeIse, Harold V. Vice President Coombs, Charles A* Manager, Research Department Bloomfield, Arthur I. Senior Economist Garvy, George Senior Economist Professional Research Staff: Balance of Payments Division Chief Studies of U.S. international financial policy and balance-of-payments problems for use in the formulation of bank policy with respect to foreign financif relations; international capital movements* Mendershausen, Horst Economist Broad studies of U.S. financial relations with the rest of the world, GATT, trade and tariff policies. Aubrey, Henry Economist Analysis of financial problems related to the U.S. balance of payments, foreign investments, international capital movements, and commodity markets. Egan, James Research Assistant Foreign aid; foreign trade. Hearle, Marjory Statistical Clerk Gold statistics. Balance of Payments Analyst Statistician Statistician Statistical Clerk Collection and editing of data and rep orts on capital movements;contacts with banks, commercial concerns, and brokers. Latin American export credit information, Shipments and receipts of U.S. currency to and from foreign countries. Klopstock, Fred H# Analysis Section Reports Section Church, SallyCollins, Marie Murray, Mae Damon, Frances - 2FEDERAL RESERVE BANK OF K M YORK Title Principal Field of Activity Professional Research Staff: Balance of Payments Division (Contd.) Editorial and Charting Section Canfrwell, Abigail Research Editorial Assistant Copy editor for all publications prepared in Research Department including Monthly Review, Annual Report, and Business and Financial Summary« Finter, Margaret Supervisor Departmental budget; determining space allotments foi Monthly Review articles; coordinating departmental reports for the Manager. Supervision of the Chartists Kotin, Evangelyn Snipes, Frances Statistical draftsman Statistical draftsman Charts for all publications and for directors, officers, and economists. Also special lettering work. Domestic Research Division Gaines, Tilford C. Chief All of the broad aspects of the nation's economy, with emphasis on monetary, credit, and fiscal developments, and on general economic developments in tne Second District, Special studies and reports of System operations in collaboration with officers of the Securities Department • Link, Robert G. Ritter, Lawrence S. Volcker, Paul A. Wojnilower, Albert Novack, David E. Economist Economist Economist Economist Research Assistant Monetary Economics Unit« Analysis of credit policy and open market operations and money market developments; reports for Federal Open Market Committee, •M- Frank Schiff, Economist, on leave of absence to Foreign Operations Administration. - 3FEDERAL RESERVE BANK OF NEW YORK Title Principal Field of Activity- Professional Research Staff: Domestic Research Division (Contd.) Auerbach, Irving Pluck, Dolores Turvey, Rosemary Money Market Specialist Research Assistant Research Assistant Money Market Unit. Analysis and projections of factors affecting money market and bank reserves; reports for open market operations and money market conditions. Vyald, Haskell P. Frane, Lenore Guttentag, Jack # bright, Kenneth Block, Ernest Gandert, Gertrude Economist Economist Economist Economist Economist Statistical Clerk Treasury Finance and Capital MarketTfiiit. Analysis and estimate of1 Treasury receipts and expenditures, Federal Budget, public debt, and Government corporation and credit agencies security markets,corporation finance, and housing finance. Sternlight, Peter Lindsay, J. Robert Brimmer, Andrew F. Schindier, Ralph C. Economist Economist Economist Research Assistant Business Conditions Unit. National income, production. distribution, prices, and Second District economic data. Bruce, Mary C. Administrative Assistant General supervisory and administrative functions, including budget, personnel reports, research files, and publications. Financial and Trade Statistics Division McWhinney, Madeline Chief * Also assistant to Mr. Garvy# Collection, assembly, analysis, and distribution of banking, financial, and trade data for the Second District; preparation of summaries of banking, Federal Reserve, and other data related to member bank reserve positions. - h FEDERAL RESERVE BANK OF MEtf YORK Title Principal Field of Activity Professional Research Staff: Financial and Trade Statistics Division (Contd») Milkiewicz, Victor Hendrickson, John H« Statistician Statistician Federal Reserve and Member Bank Statistics" Federal Reserve condition statement statistics and reports received from member banks; weekly and monthly reporting banks; monthly condition statements of all member banks ; quarterly interest rate survey; bank debits series; vsloeity of deposits. McCalley, John lftagner, Jane Nelson, Sagred Economist Statistician Statistical Clerk Money Market and Security Market Statistics. Daily money market reports and reports of capital market trans ac ti ons• IN ee kly analysis of gains and losses in member bank reserve funds. Reports on stock exchange credit. Brown, Janet Conn, Hilda Administrative Assistant Statistical Clerk Consumer Credit and Retail Trade Statistics"! Collection, distribution, and analysis of data on department store, apparel store, and furniture store trade in the Second District; consumer credit. Helf, John Lampe, Fred Economist Statistician Member bank operating ratios. Survey of demand deposit ownership. Other analyses of financial data; preparation of special studies ant articles; special projects. Ziegler, Martin Statistical Clerk Special studies and surveys. -5 FEDERAL RESERVE BANK OF NEW YORK Title Principal Field of Activity Professional Research Staff: Financial and Trade Statistics Division (Contd.) Alber, Charlotte Statistical Clerk Studies of department store trade. Indexes of hourly and weekly earnings in nonagricultural industries. Special studies and surveys Tweed, Russell Statistician Commercial and finance paper outstanding. Special studies of financial statistics. Foreign Research Division Kriz, Miroslav Chief Analysis and interpretation ;. of foreign and international economic and financial developments for use in the formulation of bank policy with respect to foreign financial relations and to domestic questions that are closely affected by developments abroad. Fousek, Peter Hein, John Economist Economist Continental Vilestern Europe. Special fields - central banking, BIS, European Payments Union, Dernburg, Hans Economist Central and Eastern Europe. Ehrlich, Edna Economist Far East - Pacific, Special ~lTeld - IBRD. Schott, Francis Sedwitz, Walter Economist Economist Latin America. Special field - silver. Glaessner, PhilipsClarke, Stephen Ho lines, Alan Hughes, Jonathan Economist Economist Economist Economist British Commonwealth. Stirling area3 IMF. •* On leave of absence, - 6 FEDERAL RESERVE BANK OF NEW YORK Title Principal Field of Activity Professional Research Staffj Foreign Research Division (Contd.) Reed, John Economist Case, V«inthrop Research Editor Huff, Gladys Administrative Assistant Mediterranean - Near East. Special field - gold. Certain administrative duties, supervision of clerical personnel and certain stenographic work. Reference Library Division Bogardus, Janet Chief Librarian Selection, acquisition, processing, and distribution of published materials and other documents or studies in the field of central banking, general economics, and world affairs. Reference and information service. Administration and supervision. Williamson, Emma Senior Librarian Cataloging and supervising. Harvey, Helen Librarian Reference work and requests for books; foreign bank reports. Kelley >Genevieve Librarian Book and periodical orders. Richey, Dorothy Librarian Reference work and requests for books. Selection of reference materials• Interlibrary loan. FEDERAL RESERVE BANK OF PHILADELPHIA Title Principal Field of Activity Research Officers} Bopp, Karl R. Vice President Alderfer, Evan B. Industrial Economist Industry. Anderson, Clay J6 Financial Economist Finance. Professional Research Staff: Bunting, John R., Jr. Associate Economist Business. Ejyrnes, James C. Assistant Statistician Statistics. Eastburn, David P. Financial Economist Finance• Hartman, Florence M» Librarian Rehfuss, J. Frank Manager, Research Department; Assistant Federal Reserve Agent General Management, Sna der, Kenneth M. Statistician Statistics. Zimmermann, Doris F. Research Librarian FEDERAL RESiftVE BANK OF CLEVELAND Title Principal Field of Activity Research Officer: Hostetler, L. Merle Director of Research Professional Research Staff: Balles, John J. Senior Economist Finance. Brown, Dorothy F. Administrative Research Assistant Publications and industry. Browi, Roger A. Senior Research Assistant Industry. Chambers, Earl Senior Research Assistant Trade. Cutler, Addison T. Editor of Research Publications Trade and publications, Fishbaugh, Charles P. Senior Research Assistant Trade. Hoover, Robert G. Junior Economist Agriculture. Hummel, Claude I. Senior Agricultural Specialist Agriculture. Jones, Oliver H» Economist Finance. Kiel, Fred 0. Senior Economist Industry and office management. Klahro, Ethel Librarian Nichols, Joan A. Research Assistant Finance. Ormiston, Thomas E. Junior Economist Industry. FEDERAL RESERVE BANK OF RICHMOND Title Principal Field of Activity Research Officers; Williams, Charles W« Vice President Daane, J. Dewey Assistant Vice President Money markets and credit. Storrs, Thomas I. Assistant Vice President Supervision of Research Department* Professional Research Staff: Angle, Elizabeth W. Statistical Associate Current reporting series. Chambers, Benjamin p, Business Economist and Statistician Trade and industry$ business developments. Hardy, Virginia A. Research Associate Assistant to Mr. Daane. Lumpkin, R« Pierce Financial Economist Banking and credit5 Federal Government finance 5 income Industrial Economist Industry^ population and resources; state and local finance. MacDonald, Edmund F. Porter, Horace G. Agricultural Economist Agriculture. Statistical Section: Stinnett, Frank D., Jr., Administrative Assistant Head of section. Library: Walford, Bess P. Reference Librarian Head of library. FEDERAL RESERVE BANK OB1 ATLANTA Title Principal Field of Activity Research Officers: Rauber, Earle Lo Vice President and Director of Research General direction and administration of Research Department. Taylor, Charles T, Assistant Vice President Chief administration officer under Director of Research Research in monetary and credit policy. Professional Research Staff: Atkinson, Thomas R, Economist Research in central banking and financial s t a t i s t i c s . Brandt, Harry- Assistant Economist Industrial research. Davis, W. M« Assistant Economist Research in central banking. Frashier, Anne E. Assistant Librarian Vertical files and bibliographies. Harris, John T, Assistant Economist Agricultural research and agricultural relations, Johnston, Linda Librarian Jfr charge of Research library. Kantner, Arthur H. Economist Agricultural research and agricultural relations. Overailler, Charles S. Associate Economist Research in banking and finance. FEDERAL RESERVE BANK OF CHICAGO Title Principal Field of Activity Research Officers: Mitchell, George W. Vice President Vice President and Director of Research. Baughman, Ernest T. Assistant Vice President General. Professional Research Staff: Aufdenkamp, Jo Ann Librarian Research library. Benson, Sherwood Economist Staff writer. Cheadle, Harold L. Economist Public relations - Economics and banking. Cloos, George Vv. Econcmist Business finance* Emmer, Robert E. Economist Statistical series. Goldstine, Abner D. Economist Banking and foreign trade. Herr, William Me* Economist Agriculture. Hobby, Elizabeth N. Research Analyst General and regional economics. Holland, Robert C. Economist Banking and credit. Hughes, Thelma L« Chief Business statistics section. Ivie, Sara A. Research Analyst General. Kolz, Clarence W. Chief Financial statistics section. Kutish, L. John Econcmist Regional economics and agriculture. Leven, Charles L. Economist Regional economics. Metzer, Dick Economist Regional economics and public finance. Nichols, Dorothy M» Economist Banking and credit. Partee, John C. Economist Financial institutions and consumer credit. -2FEDERAL RESERVE B A M OF CHICAGO Principal Field Title of Activity- Professional Research Staff: Petty, Mary T. Economist Banking and credit. Rymarovjicz, Lillian M. Economist Public finance. Schneider, Theodore H. Economist Banking and credit. Stiles, Lynn A. Economist Warton, Patricia A. Chief Public finance and public utilities. Publications and Reports section. FEDERAL RESERVE BANK OF ST. LOUIS Title Principal Field of Activity Research Officers Abbott, William J., Jr. Director of Research Professional Research Staff: Bowsher, Norman N» Economist Finance• Kester, William H« Assistant Manager, and Economist Business. Kircher, Harry B. Economist Editorial. Kreider, Lawrence E. Economist Agriculture. Luttrell, Clifton B. Economist Agriculture. Meigs, Alexander J. Economist Business Pfaff, Constance A. Librarian Research Library« Robertson, Ross M» Economist Finance• FEDERAL RESERVE BANK OF MINNEAPOLIS Title Principal Field of Activity Research Officers: Parsons, Franklin L. Director of Research Litterer, Oscar F. Business Economist Professional Research Staff: Bender, Wilma R. Senior Research Assistant Supervise trade statistics section. Harding, Martha V. Temporary Research Assistant Statistical* Hellweg, Douglas R. Economist Monetary and banking conditions. Hutchison, John E. Administrative Assistant Assistant to Business Economist. Lehman, Leland C. Assistant Economist Business Special regional studies. MacDonald, John A. Department Head General administration and supervision; statistical series. Nelson, Clarence W. Economist Business conditions and regional studies, and editor, Monthly Review. Richards, Sara L. Temporary Senior Research Assistant Publications. Strand, Mildred R. Librarian Library • Thomson, Marian S. Senior Research Assistant Supervise banking statistics section. Worcester, Robert W. Agricultural Economist Analysis of agricultural conditions, and editor, Farm News. FEDERAL RESERVE BANK OF KANSAS CITt Title Principal Field of Activity Research Officer: Tow, Clarence ¥. Vice President Professionally Research Staff: Billington, Wilbur T. Industrial Economist Industry; aggregative analysis; business finance. Cawthorne, D. R. Assistant Director of Research Money and banking; Treasury finance; money markets; business finance. Doll, R. J. Agricultural Economist Agriculture, including agricultural credit. Gies, Thomas G. Financial Economist Money and banking; Treasury finance; money markets; business finance. Gish, Norville R. Publications Editor Planning, editing, and distribution of publications; public information. Gramley, Lyle E. Financial Economist Money and banking; Treasury finance; money markets; business finance. Lewis, Carl B. Research Assistant Agriculture* MacDonald, Mary Jane Librarian Research library. Parsons, Carl R. Statistical Assistant Statistical series; statistical surveys; department store trade. Peterson, G. A. Agricultural Economist Agriculture, including agricultural credit. Self3 Kenneth B. Statistician Statistical series; statistical surveys; department store trade9 FEDERAL RESERVE BANK OF DALLAS Title Principal Field of Activity Research Officers: Rice, Morgan Hi Vice President and Secretary of the Board General supervision of Research; Secretary of the Board of Directors; and operating management. Coldwell, Philip E. Director of Research Direct supervision of Research. Professional Research Staff: Colclough, Jack D. Petroleum and General Economist Oil and gas; income studies. Levin, Bertrain F. Financial Economist Commercial and central banking, money markets, and Government securities. McMillan, T. E., Jr. Industrial Economist Large- and small-scale industry; employment; utilities; and construetic Peacock. Leslie C. Financial Economist Commercial and central banking, money markets, and Government securities. Pitt, Roger E. Supervisor of Statistical and Reporting Section Supervises statistical work on current reporting serie handles statistical techniques. Post, Marvina Research Administrative Assistant Administrative duties in Research Department and in activities relating to the office of the Secretary of the Board. Rogers, Virginia M. Special Assistant Supervision over and editing of bank publications and supervision of department files. Rowe, J. Z. Agricultural Economist Agriculture. Smith, Zenas B. Research Administrative Assistant Collection and compilation of statistics, regular reports, and surveys. Research Librarian Research library. Wilkerson, Mabel FEDERAL RESERVE BANK OF SAN FRANCISCO Title Principal Field of Activity Research Officer: Wheeler, Oliver P. Vice President Professional Research Staff: Assistant Economist Industrial economics. Responsible for gross national product, industrial production, and related subjects. Associate Economist Monetary and fiscal problems. Holden, Elizabeth Librarian In charge of library. Hurst, William A. Associate Economist Foreign trade and finance. Lynn, Gault W. Supervisor of Research Supervisor of Monthly Review, related publTcations, and research. Economist, monetary and fiscal problems. Neumann, Donald A. Assistant Economist Industrial structure of the District, prices, and special industry studies. Peterson, Charles Research Assistant and Supervisor of Statistical Reports Supervisor of Statistical Reports Section. Schwartz, Harry S. Head, Research Department Supervisor of department administration, operations, and special projects. Economist, industrial problems, Waldorf, William H* Assistant Economist Personal income, consumer expenditures- and special regional studies. Wilson, Ruth V. Assistant Economist Special studies and assistant to Mr. Wheeler© Buma, Harold L. . Einaig, Robert Presently on leave to the International Cooperation Administration, United States Department of State. Assigned to Banque National de Laos. RECEIVED JAN 191956 OOMMTTU ON TMt HltTOftV OPTNt • PROFESSIONAL RESEARCH x^ERSONKEL i \ \ IB THE ] FEDERAL RESERVE SISTM ' January 1, 1956 OF THE FEDERAL RESERVE SYSTEM Viinfield *7. Riefler, Assistant to the Chairman Vvoodlief Thomas, Economic Adviser to the Board -2BOARD Or GOVEiJNOKS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH AND STATISTICS (Contd.) Title Principal Field of Activity rrofessional itesearch Staff: Government Finance Section Miller, Donald C. Chief Campbell, Colin D. Economist Ownership of Government securities. Chapin, Harold F. Economist Government secarity market. Culbertson, John M. Economist Open market and interest rate studies* Hellmuth, William Economist Taxation and fiscal policy. Keir, Peter M• Economist Government security market, McCloud, Lyndall C. Economist Treasury receipts and expenditures. Eusiness Finance and Capital Markets Section Brill, Daniel K. Chief Frase, Eleanor Stockwell Economist Moss, Robert R» Economist Pickering, Richard C, Economist Business finance and capital markets - over-all profits and corporate sources and uses of funds estimates and projections; special business finance and capital markets studiesa Business finance - sources and uses of funds for major industry and size groups. Capital markets - State and local government long-term financing; pension and trust fund investment activities; individuals' savings. -3BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESi&.hGH AND STATISTICS (Contd.) Title Principal Field of Activity- Professional Research Staff: Business Conditions Section Gehman, Clayton Chief Alien, Philip T. Economist Agriculture, including agricultural credit. Altmann^ Murray Economist Commodity prices. Crockett, David C. Economist Production index research. Freedman, Bernard N, Economist Inventories and trade« Manookian, Edward A, Economist Current industrial production, Worelle, Wilellyn Economist Agriculture, including agriculture credit. Moss, Milton Economist Consumer goods and production index research* Schwartz, Maurice H# Economist Current industrial production. Trueblood, Lorman C. Economist General business and production developments. : National Income, &i oneyf lows, and Labor Section Vueiner, Louis Cnief In charge of national income and labor research. Hile, Gloria Economist Flow of funds—consumer sector. Hurley, Evelyn H, Economist Flow of funds—foreign sector, state and local government sector. Moore, A. Jane Economist Labor. Sigel, Stanley J. Economist In charge of flow-of-funds research. Taylor, Stephen P. Economist Flow of funds—business sectors* t -INOF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH hUD STATISTICS (Contd.) Title Principal Field of Activity- Professional Research Staff! National Income, Moneyflows, and Labor Section (Contd.) liiondel, Helmut Economist Flow of funds—federal -; • • Government and financial institutions sectors. hernick, Murray S. Economist Labor and manpower research. Yager, Charles A. Economist Gross national product and income. Consumer Credit and Finances Section Jonos, Homer Chief Broida, Arthur L. Economist Consumer Finances Survey. Flechsig, Theodore Economist Construction, real estate, and real estate credit«, Johnson, Alfred P« Economist Retail trade credit* Klaman, Saul B. # Economist Construction, real estate, and real estate credit. Nelson, Elsie T, Statistical Assistant Current consumer credit estimates for financial institutions. Pawley, Francis R. Economist Structure of consumer financing industry. Reil, Katharyne P. Economist Consumer credit—special studies. Smith, Paul F. Economist Consumer credit. Smith, Tynan Economist In charge of consumer credit and consumer finances survey. Mr. Klaman is on leave of absence for an extended period. -5BOAKD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEft DIVISION OF RESEARCH AMD STATISTICS Title (Contd.) Principal Field of Activity- Professional Research Staff: Consumer Credit and Finances Section (Contd.) W e s t e r , P h i l i p M, Economist Current retail credit estimates. Ihood, Hams ay Economist In charge of construction, real estate, and real estate credit. Regional Research Thompson, Orville K # Economist In charge of department store statisticsc Monthly Reviews, Research budgets of the Banks, and System Research committee matters* Fry, Edward R, Economis" Department store trade statistics. Adm inis trat ion Millea, Gerald F. Administrative Assistant Division administration and personnel. Economic Editing Eutler, Marie Economist (Editorial) Coordination of Division's activities in planning, editorial review, and writing for Bulletin (articles, reports, e t c ) , Annual Report, technical studies, and special publications• Sette, Elisabeth B. Economist Coordination of Division's activities on regular monthly and historical chart books, tabular .•• • section of bulletin, and special statistical publications. Researcn on Government corporations and credit agencies« -6BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH AND STATISTICS (Contd.) Principal Field of Activity Title Professional Research Staff: Library- Sutherland, Alvern E. Chief Librarian Research reference service. Economic Illustrating Grunwell, Helen R. Chief Draftsman Economic illustration material. BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF INTERNATIONAL FINANCE Title Principal Field of Activity __ Research Officers; Marget, Arthur Vu Director Dembitz, Lewis N. Assistant Director Professional Research Staff: Administrative Staff Thorne, Yiiendell E, Assistant to the Director Liaison, editorial, statistical, personnel, administrative and service functions• Editor, Review of Foreign Developments, Ernst, Rosa Economist (Editorial) Editor, Viieekly Review of Periodicals. Crews, Esther G. Supervisor International Information Center. Financial Operations and Policy Section Tamagna, Frank M« Chief Axilrod, Stephen Economist International Bank for Reconstruction and Development; Export-Import Bank; foreign assistance and military aid programs; foreign investments and economic development; long-term capital movements , Garber, Margaret R. Statistical Assistant Foreign gold reserves; gold movements, markets, production and uses; silver. Smith, Nancy J# Economist Foreign dollar balances and international short-term capital movements; foreign operations of Federal Reserve Banks, ExportImport Bank and International Bank* -2BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF INTERNATIONAL FINANCE (Contd.) Title Principal Field of Activity Professional Research Staff: Special Studias Section Hersey, Arthur B. Chief Reynolds, John E. Economist Foreign monetary, fiscal and balance-of-payments studies; GATTj commodity marketst Summers, Thomas Economist U. S. and other countries' trade and balance of payments. Miller, Mary P. Statistical Assistant U. S. foreign trade statistics. Western Eurooean and British Commonwealth Section Furth, J. Herbert Chief Dahl, Frederick R. Economist Netherlands and the Scandinavian Countries, Australia, and New Zealand. Harris, Elinor R. Economist France, Italy, Belgium, Luxembourg, Spain, Portugal., and their overseas territories except Indo-China. Katz, Samuel I. Economist United Kingdom and the British Commonwealth excluding Australia, New Zealand, India, Pakistan, Ceylon, and Malaya. Central and Eastern Eurox>ean Section Wood, Ralph C. Chief Grimwood, Gordon B. Economist Germany, Austria, Yugoslavia, Finland, Liberia, Libya, and Ethiopia. Maroney, Mary M. Economist Greece, Turkey, and Near Eastern Countries, -3EOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF IMTuhlNiATIOML FINANCE ( C o n t d . ) Title Principal Field of Activity Professional Researcn Staff; Far Eastern Section 1/vhittington, Floyd L. Chief Irvine, Reed J« Economist Japan, China, the Philippines, riong Kong, Formosa, and Korea. Maroni, Yves Economist South Asia. Latin American Section Emery, Robert F. Economist Chile, Peru, Bolivia, Ecuador, Columbia, and Venezuela. Kelprin, Dorothy L, Economist Brazil, Cuba, Haiti,. Dominican Hepublic, Costa Rica, Panama, Honduras, and Nicaragua. FEDERAL RESERVE Bi\JMK OF EOSTON Title Research Principal Field of Activity Officers; E l l i s , George H. Director of Research In charge of research. 1/villis, Parker B. Financial Economist Monetary and fiscal policies and developments. Professional Research Staff: Anderson, Paul S. Assistant Financial Economist Regional finance» Bruce, Wallace Statistical Clerk, Junior Industrial statistics. Coughlin, Marguerite I« Industrial Statistician Industrial statistics. DiGiannantonio, Eleanor Librarian In charge of library. Doerniann, Elisabeth Financial Statistical Clerk Editing of Monthly Review and supervision of charting Durant, Catherine Assistant Librarian General library work. Eisenmenger, Robert Resource Economist Forestry and wood using industries. Gilmore, Donald R. Industrial Economist Industrial and business conditions—regional. r»itiguy, Harry Agricultural Statistician Agricultural developments. Pearson, Harold T. Financial Statistician Financial statistics. Price, Harold Industrial Statistician Industrial and business conditions—national• Read, Helena K* Administrative Assistant Retail trade reports. Robinson, Rcmney Regional Economist Foreign trade and regional economics. Sherman, John M. Industrial Statistician Industrial statistics. Smith, Howard G. Trade Statistician Retail trade and vacation business statistics. Stockwell, Jean Assistant Librarian Cataloging and general library work. - 2 FEDERAL RESERVE BANK OF BOSTON Title Principal Field of Activity Professional Research Staff: Thaler, Jarvis M., Jr. Manager and Trade . .. . . Supervisory, retail trade, Economist editor of Monthly Review. Thompson, Eleanor Financial Statistical Clerk Financial statistics. Viafora, Mary Assistant Librarian General library work. Wills, Janet Trade Statistical Clerk Trade statistics. FEDMtAL RESERVE BANK OF NEW YORK Principal Field of Activity Title Research Officers: Roelse, Harold V. Vice President Coombs, Charles A. Manager, Research Department Blocmfield, Arthur I, Senior Economist Garvy, George Senior Economist Professional Research Staff: Administration Division Gaines, Tilford Special Assistant Studies of reports on various aspects of Federal Reserve credit policy, money and securities market developments, Treasury finance, and related matters. Special studies and analyses of operating practices and problems in collaboration with officers of the Securities Department. Balance of Payments Division Chief Studies of U«S. international financial policy and balance-of-payments problems for use in the formulation of bank policy with respect to foreign financial relations 5 international capital movements. Aubrey, Henry Economist Broad studies of U.S. financial relations with the rest of the worldo Foreign investments, international capital movements, and commodity markets. Egan, James Statistician Foreign aid; foreign trade$ GATTj trade and tariff policies. Hearle, Marjory Statistical Clerk Gold statistics. Klopstock, Fred H» Analysis Section - 2FEDERAL itESERVE BAwK OF NE1 YORK Title Principal Field of Activity Professional Research Staff: Balance of Payments Division (Contd.) Reports Section Church, Sally Collins, Marie Murray, Mae Damon, Frances Administrative Assistant Statistician Statistician Statistical Clerk Collection and editing of data and reports on capital movements; contacts with tenks, commercial concerns, and brokers. Latin American export credit information*, Shipments and receipts of U.S. currency to and from foreign countries. Edj.torial and Charting Section Cantwell, Abigail Research Editorial Assistant Copy editor for all publications prepared in Research Department including Monthly Review, Annual Financial Summary* Finter, Margaret Supervisor departmental budget; determining space allotments for Monthly Review articles; coordinating departmental reports for the Manager. Supervision of the Chartists Kotin, Evangelyn Lagois, Maria Snipes, Frances Statistical draftsman Statistical draftsman Statistical draftsman Charts for all publications and for directors, officers, and economists. Also special lettering work. Dcmestic Research Division Schiff, Frank Chief Analysis and interpretation of e l l aspects of the nation's economy, vdth emphasis on monetary, credit, and fiscal developments - for use in formulation of Bank policies. Studies of economic developments in the Second < District. — 3 — FEDERAL RESERVE BANK OF NEw YORK Title Principal Field of Activity Professional Research Staff: Domestic Research Division (Contd.) Link, Robert G. Lindsay, Robert R i t t e r , Lawrence ISiovack David E«. Economist Economist Economist Research Assistant Monetary Economics Unit. Analysis of credit policy and open market operations and money market developments; reports for Federal Open Market Committee. Auerbach, Irving Pluck, Dolores Money Market Specialist Research Assistant Money Market Unit a Analysis and projections of factors affecting money market and bank reserves; reports for open market operations and money market conditions. 7iiald, Haskell P« Bloch, Ernest Frane, Lenore Guttentag, Jack # Wright, Kenneth Gandert, Gertrude BaLtaglia, Camille Economist Economist Economist Economist Economist Statistical Clerk Research Assistant Treasury Finance nnd Capital Ma.riJo 'r, Unit. : "ri^ly sis "and estimate of treasury receipts and expenditures, Federal Budget, public debt, and Government corporation and credit agencies; security markets$ corporation finance and housing finance. Sternlight, Peter toojnilower, Albert Brimmer, Andrew F, Scherer, Joseph Schindler, Ralph Economist Economist Economist Economist Statistician Business Conditions Unit, National income7 production distribution, prices, and Second District economic data. Bruce, Mary C, Administrative Assistant General supervisory and administrative functions, including budget, personnel reports, research files, and publications Also assistant to Mr, Garvy. - ll - B A M OF KEini XGfctK FEDERAL Title Principal Field of Activity- Professional Research Staff: Financial and Trade Statistics Division •M CVK hinney, M a de 1 ine Chief Collection, assembly, analysis, and distribution of banking, financial, and trade data for the Second District; preparation of summaries of banking, Federal Reserve, and other data related to member bank reserve positions. Milkiewicz, Victor Hendrickson, John H. Barney, Viola Statistician Statistician Statistical Clerk Federal Reserve and Member Bank Statistics. Federal Reserve condition statement statistics and reports received from member banks; weekly and monthly reporting banks; monthly condition statements of all member banks; quarterly interest rate survey; bank debit series; velocity of deposits. McCalley, John TA/agner, Jane Nelson, Sagred Economist Statistician Statistical Clerk Money Market and Security Market Statistics. Daily money market reports and reports of capital market transactions, vneekly analysis of gains and losses in member bank reserve funds, deports on stock exchange credit. Brown, Janet Conn, Hilda Administrative Assistant Statistical Clerk Consumer Credit and Retail Trade Statistic* Collection, distribution, and analysis of data on department store, apparel store, and furniture store trade in the Second District; consumer credit. FEDERAL RESERVE BANK OF NEVn YORK Title Principal Field of Activity- Professional Research Staff: Financial and Trade Statistics Division (Contdo) Helf, John Lampe, Fred Ziegler, Martin Economist Statistician Statistical Clerk Member bank operating ratios * Survey of demand deposit ownership. Other analyses of financial data; preparation of special studies and articles5 special projects. Alber, Charlotte Statistical Clerk Studies of department store trade. Indexes of hourly and weekly earnj.ngs in nonagricultural industries. Special studies and surveys Tweed, Russell Statistician Commercial and finance paper outstanding,. Special studies of financial statistics. Foreign Research Division Kriz, Miroslav Chief Analysis and interpretation of foreign and Internationa al economic and financial developments for use in the formulation of Bank policy with respect to foreign financial relations and to domestic questions that are closely affected by developments abroad. Fousek, Peter Rein, John Economist Economist Continental vile stern Europe. Special fields - central banking, BIS, European Payments Union, Dernburg, Hans Economist Central and Eastern Europe. Ehrlich, Edna Economist Far East - Pacific, Special field - IBRD. Schott, Francis Sedwitz, Walter Economist Economist Latin America. Special field - silver. - 6 FEDERAL RESERVE B A M OF NttW IORK Principal Field of Activity Title Professional Research Staffi Foreign Research Division (Contd.) Glaessner, Philip Clarke, Stephen Holmes, Alan Hughes, Jonathan Economist Economist Economist Economist British Commonwealth, Sterling area; IMF. Heed, John Economist Mediterranean - Near East, Special field - gold. Case, vuinthrop Research Editor Huff, Gladys Administrative Assistant Certain administrative duties supervision of clerical personnel and certain stenographic work. Reference Library Division Bogardus, Janet Chief Librarian Selection, acquisition, processing, and distribution of published materials and other documents or studies in the field of central banking, general economics, and world affairs. Reference and information service. Administration and supervision. lAiilliamscn, Emma Senior Librarian Cataloging and supervising* Harvey, Helen Librarian Reference work and requests for books; foreign bank reports. Kelley, Genevieve Librarian Books and periodical orders, Kichey, Dorothy Librarian Reference work and requests for books. Selection of reference materials. Interlibrary loan. — O n leave of absence. FEDERAL RECERVE BANK OF PHILADELPHIA Title Principal Field of Activity Research Officers: Bopp, Karl R. Vice President Alderfer, Evan B. Industrial Economist Industry, Anderson,, Clay J« Financial Economist Finance. Professional Research Staff: Bunting, John R., Jr. Associate Economist Business. Eyrnes, James C. Assistant Statistician Statistics. Eastburn, David p, Financial Economist Fina nee. Kartman, Florence M# Librarian Rshfuss, J« Frank Manager, Research Department; Assistant Federal Reserve Agent General Management, Snader, Kenneth M. Statistician Statistics. Zimmermann, Doris F. Research Librarian FEDERAL RESERVE BANK OF CLEVELAND Title Principal Field of Activity Research Officer: Hostetler, L. Merle Director of Research Professional Research Staff: Balles, John J. Senior Economist Finance. Brown, Dorothy F. Administrative Research Assistant Publications and industry* Brown, Roger A. Junior Economist Industry. Cutler, Addison T. Editor of Research Publications Trade and publications. Fishbaugh, Charles P» Senior Research Assistant Trade. Hoover, Robert G. Junior Economist Agriculture. Hummel, Claude I. Senior Agricultural Specialist Agriculture. Jones, Oliver H # Economist Finance. Kiel, Fred 0. Senior Economist Industry and office management• Klahre, Ethel Librarian Nichols, Joan A. Research Assistant Finance. Ormiston, Thomas E. Junior Economist Industry. FEDERAL RESERVE BAM. OF RICHMOND Title Principal Field of Activity Research Officers: Williams, Charles Vu. Vice President Daane, J. Dewey Assistant Vice President Money markets and credit. Storrs, Thomas I« Assistant Vice President Supervision of Research Department. Professional Research Staff: Angle, Elizabeth^. Statistical Associate Current reporting series. Chambers, Benjamin P. Business Economist and Statistician Trade and industry; business developments. Clarke, Sada L, Research Associate Agriculture. Lumpkin, R. Pierce Financial Economist Banking and credit: Federal Government finance; income* MacDonald, Edmund F. Industrial Economist Industry; population and resources; state and local finance* Porter, Horace G. Agriculture Economist Agriculture. Statistical Section: Stinnett, Frank D., Jr. Administrative Assistant Head of section. Library: Waiford, Bess P. Reference Librarian Head of library. FEDERAL RESERVE BANK OF ATLANTA Title Principal Field of Activity Research Officers: Rauber, Earle L. Vice President and Director of Research General direction and administration of Research Department. Taylor, Charles T. Assistant Vice President Chief administration officer under Director of Research* Research in monetary and credit policy. Professional Research Staff: Atkinson, Thomas R. Economist Research in central banking and financial statistics. Brandt, Harry Associate Economist Industrial research. Davis, 11V, M. Assistant Economist Research in central banking. Frashier, Anne Assistant Librarian Vertical files and bibliographies. Harris, John T. Assistant Economist Agricultural research and agricultural relations. Johnston, Linda Librarian In charge of Research library. Kantner, Arthur H. Economist Agricultural research and agricultural relations. Kendall, Leon Assistant Economist Research in consumer spending, income, and saving. Overmiller, Charles S. Associate Economist Research in banking and finance. FEDERAL RESERVE B A M OF CHICAGO Title Principal Field of Activity Research Officers: Mitchell, George Vv. Vice President Vice President and Director of Research. Baughinan, Ernest T, Assistant Vice President General. Professional Research Staff: Aufdenkamp, Jo Ann Librarian research library. Benson, Sherwood Staff writer General• Cheadle, Harold L. Economist Public relations - Economics and banking. Cloos, George Mm Economist Business finance. Emmer, Robert E. Economist Statistical series. Goldstine, Abner D. Economist Banking and foreign trade. herr, Mlliam Me. Economist Agriculture. Hobby, Elizabeth N. Research Assistant General and regional economics. Holland, Robert C. Economist Banking and credit. Hughes, Thelma L. Chief Business statistics section* Ivie, Sara A. Research Assistant General, Kolz, Clarence Vv. Chief Financial statistics section. Kutish, L. John Economist Regional economics and agriculture. Leven, Charles L. Economist Regional economics. Netzer, Dick Economist Regional economics and public finance. Nichols, Dorothy M. Economist Banking and credit. Partee, John C. Economist Financial institutions and consumer credit. -2FEDERAL RESERVE BANK OF CHICAGO Title Principal Field of Activity Professional Research Staff: Petty, Mary T, Economist Banking and credit. Rymarowicz, Lillian M. Economist Public finance. Schneider, Theodore H. Economist Banking and credit. Stiles, Lynn A. Economist Public finance. Thomas, Maria Research Assistant General. Vvarton, Patricia A. Chief Publications and Reports section. FEDERAL RESERVE BANK OF ST. LOUIS Title Principal Field of Activity Research Officer; Abbott, William J.> Jr. Vice President Professional Research Staff: Economist Finance, Assistant Manager, and Economist Business. Kircher, Harry B. Economist Editorial. Kreider, Lawrence E. Economist Agriculture. Luttrell, Clifton B. Economist Agriculture. Meigs, Alexander J, Economist Business. Pfaff, Constance A, Librarian Research Library. Robertson, Ross M* Economist Finance. Bowsher, Norman N. ,-. Kester, Vdilliam H. FEDERAL RESERVE BANK OF MINNEAPOLIS Title Principal Field of Activity Research Officers: ^arsons, Franklin L. Director of Research Litterer, Oscar F. Business Economist Professional Research Staff: Bender, wilma R. Senior Research Assistant Supervise trade statistics section. Harding, Martha V. Research Assistant Statistical. Hellweg, Douglas R. Economist Monetary and bankingconditions • Hutchison, John E. Administrative Assistant Assistant to Business Economist. Lehman, Leland C # Assistant Economist Business Special regional studies. MacDonald, John A. Department Head General administration and supervision; statistical series. Nelson, Clarence W. Economist Business conditions, regional studies, and editor, Monthly Review. Richards, Sara L, Senior Research Assistant Publications. Strand, Mildred R. Librarian Library. Thomson, Marian S. Senior Research Assistant Supervise banking statistics section. Worcester, Robert Vv. Agricultural Economist Analysis of agricultural conditions, and editor, Farm News. FEDEItAL RESERVE BANK OF KAIMSAS Title CITY Principal Field of Activity Research Officer: Tow, Clarence I. Vice President Professional Research Staff: Billington, bilbur T. Industrial Economist Industry; aggregative analysis; business finance. Cavirthorne, D. R. Assistant Director of Research Administration; money and banking; Treasury finance; money markets; business finance. Doll, R. J. Agricultural Economist Agriculture, including agricultural credit. Gies, Thomas G. Financial Economist Money and banking; Treasury finance; money markets; business finance. Gramley, Lyle E. Financial Economist Money and banking; Treasury finance; money markets; business finance. Lewis, Carl B. Research Assistant Agriculture. MacDonald, Mary Jane Librarian Research library. Parsons, Carl R. Statistical Assistant Statistical series; statistical surveys; department store trade. Peterson, G. A. Agricultural Economist Agriculture, including agricultural credit. Self, Kenneth B. Statistician Statistical series; statistical surveys; department store trade. FEDERAL RESERVE BANK OF DALLAS Title Principal Field of Activity Research Officers: Rice, Morgan H. Vice President and Secretary of the Board General supervision of Research; Secretary of the Board of Directors; and operating management• Coldwell, Philip E. Director of Research Direct supervision of Research, Professional Research Staff: Levin, Bertram F. Financial Economist Commercial and central banking, money markets, and Government securities. Peacock, Leslie C. Financial Economist Commercial and central banking, money markets, and Government securities. Pitt, Roger E. Supervisor of S t a t i s t i c a l and Reporting Section Supervises s t a t i s t i c a l work Post, Marvina Research Administrative Assistant Administrative duties in Research Department and in activities relating to the office of the Secretary of the Board. Rogers, Virginia M« Special Assistant Supervision over and editing of bank publications and supervision of department files. Rowe, J• Z. Agricultural Economist Agriculture. Smith, Zenas B. Research Administrative Assistant Collection and compilation of statistics, regular reports, and surveys. Vtfilkerson, Mabel Research Librarian Research library. Williamson, Robert B. Industrial Economist Large- and small-scale industry; employment; u t i l i t i e s ; and construction. on current reporting series; handles statistical techniques. FEDERAL RESERVE BANK OF SAN FRANCISCO Title Principal Field of Activity Research Officer: Wheeler, Oliver P« Vice President Professional Research Staff: Assistant Economist Industrial economics* Responsible for gross national product, industrial production, and related subjects. Associate Economist Mor.etary and fiscal problems. Holden, Elizabeth Librarian In charge of library. Hurst, William A. Associate Economist Foreign trade and finance. Lynn, Gault W« Supervisor of Research Supervisor of Monthly Review, related publications", end research. Economist, monetary and fiscal problems 9 Neumann, Donald A. Assistant Economist Industrial structure of the District, prices, and special industry studies* Peterson, Charles R. Research Assistant and Supervisor of Statistical Reports Supervisor of Statistical Reports Section. Schwartz, Harry S. Head, Research Department Supervisor of department administration, operations, and special projects. Economist, industrial problems. Waldorf, William H, Assistant Economist Personal income, consumer expenditures, and special regional studies. Wilson, Ruth V. Assistant Economist Special studies and assistant to Ur, Wheeler© Buma, Harold L. ; Einzig, Robert •M- Presently on leave to the International Cooperation Administration, United States Department of State, Assigned to Banque National de Laos. RECEIVED APR 2 01956 OOMMinEE ON THE HISTORV OF THE FEDERAL RESERVE SYSTEM PROFESSIONAL RESEARCH PERSONNEL IN THE FEDERAL RESERVE SYSTEM April 1, 1956 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM "Winfield W, Riefler, Assistant to the Chairman Woodlief Thomas, Economic Adviser to the Board BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH AND STATISTICS Title Principal Field of Activity Research Officers: Young, Ralph A. Director Garfield, Frank R. Adviser Noyes, Guy E. Adviser Williams, Kenneth B. •Assistant Director Burr, Susan S. Assistant Director Koch, Albert R. Assistant Director Dem bitz, Lewis N # Assistant Director Professional Research StaffJ Banking Section Eckert, James B. Chief Cagle, Caroline H. Economist Banking structure; bank earnings and taxes; bank capital* Harrington, Mary Jane Economist Current developments; technical correspondence. Snyder, Edward P # Economist Deposit ownership; bank debits; deposit turnover; money supply; bank loans and investments. Solomon, Robert Economist Money and banking—special studies. Swindler, Edwin J. Economist Currency in circulation; regional flows of funds; reserve projections; interest rates on business loans• -2BOARD OF GOVEuMOitS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH AND^ STATISTICS (Contd.) Title Principal Field of Activity Professional Research Staff: Government Finance Section Miller, Donald C. Chief Campbell, Colin D. Economist Ownership of Government securities. Chapin, Harold F. Economist Government security market, Culbertson, John M. Economist Open market and interest rate studies. Hellmuth, William Economist Taxation and fiscal policy, heir, Peter i. Economist Government security market. McCloud, Lyndall C. Economist Treasury receipts and expenditures. Business Finance and Capital Markets Section Brill, Daniel H. Chief Frase, Eleanor Stcckwell Economist Moss, Robert R. Economist Pickering, Richard C. Economist Business finance and capital markets - over-all profits and corporate sources and uses of funds estimates and projections; special business finance and capital markets studies. Business finance - sources and uses of funds for major industry and size groups. Capital markets - State and local governnent long-term financing; pension and trust fund investment activities; individuals1 savings. -3BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH AND STATISTICS (Contd.) Title Principal Field of Activity Professional Research Staff: Business Gehman, Clayton Chief Allen, P h i l i p T. Economist Agriculture, including agricultural credit. Altmann, Murray Economist Commodity prices and supplies* Crockett, David C,» Economist Production index research. deLeeuw, Frank Economist Production index research© Freedman, Bernard N. Economist Inventories and trade. Manookian, Edward A. Economist Current industrial production. Morelle, Vtfilellyn Economist Agriculture, including agriculture credit. Moss, Milton Economist Consumer goods and production index research© Schwartz, Maurice H. Economist Production index research. Trueblood, Lorman C Economist General business and production developments. National Income, Moneyflows, and Labor Section VVeiner, Louis Chief In charge of national income and labor research. Hile, Gloria Economist Flow of funds—consumer sector. Hurley, Evelyn H, Economist Flow of funds—foreign sector, state and local government sector. Moore, A. Jane Economist Labor, -kBOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH AND STATISTICS (Contd.) Title Principal Field of Activity Professional Research Staff: National Income, Moneyflows, and Labor Section (Contd,) Sigel, Stanley J . Economist In charge of research. Taylor, Stephen P. Economist Flow of funds—business sectors* Vvendel, Helmut Economist Flow of funds—federal Government and financial institutions sectors* lernick, Murray S. Economist Labor and. manpower research Yager, Charles A. Economist Gross national product and income flow-of-funds Consumer Credit and Finances Section Jones, Homer Chief Broida, Arthur L. Economist Consumer Finances Survey, Dingle, Mona E. Economist Consumer Finances Survey. Flechsig, Theodore Economist Construction, real e s t a t e , and real estate credit. Johnson, Alfred P. Economist Consumer Finances Survey. Klaman, Saul B. * Economist Construction, real estate, and real estate credit. Nelson, Elsie T. S t a t i s t i c a l Assistant Current consumer credit estimates for financial institutions. Pawley, Francis R. Economist Structure of consumer financing industry. Reil, Katharyne P. Economist Consumer credit—special studies. * Mr. Klaman i s on leave of absence for an extended period* -5BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF REwSEARCH AMD STATISTICS Title (Contd.) Principal Field of Activity Professional Research Staff: Consumer Credit and Finances Section (Contd.) Smith, Paul F. Economist Consumer credit. Smith, Tynan Economist In charge of consumer credit and consumer finances survey. Vtfebster, Philip M, Economist Current retail credit estimates. Wood, Ramsay Economist In charge of construction, real estate, and real estate credit. Regional Research Thompson, Orville K» Economist In charge of department store statistics. Monthly Reviev/s, Research budgets of the Banks, and System Research committee matters. Fry, Edward R. Economist Department store trade statistics. Administration Millea, Gerald F. Administrative Assistant Division administration and personnel. Economic Editing Butler, Marie Economist (Editorial) Coordination of Division's activities in planning, editorial review, and writing for Bulletin (articles, reports, etc.), Annual Report, technical studies, and special publications. -6EOAPtD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF RESEARCH Ai\JD STATISTICS Title (Contd,) Principal Field of Activity Professional Research Staff: Economic Editing (Contd.) Sette, Elizabeth B« Economist Coordination of Division's activities on regular monthly and historical chart books, tabular section of Bulletin, and special statistical publications. Research on Government corporations and credit agencies. Library Sutherland, Alvern H # Chief Librarian Research reference service. Economic Illustrating Grunwell, Helen R. Chief Draftsman Economic illustration material. BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF INTERNATIONAL FINANCE Title Principal Field of Activity- Research Officers Marget, Arthur W. Director Professional Research Staff: Administrative Staff Thorne, Wendell E. Assistant to the Director Liaison, editorial, statistical, personnel, administrative and service functions. Editor, Review of Foreign Developments. Crews, Esther G. Supervisor International Information Center, Ernst, Rosa Economist (Editorial) Editor, Weekly Review of Periodicals, Financial Operations and Policy Section T&magna, Frank M, Chief Axilrod, Stephen Economist International monetary policies, arrangements, and institutions; foreign activities of Federal Reserve System; N.A.C. activities. Garber, Margaret R. Statistical Assistant Foreign gold reserves; gold movements, markets, production and uses; silver; foreign accounts of Federal Reserve Bank of New York, Hauver, Pauline E. Clerk Foreign dollar balances and international short-term capital movements. -2EOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF INTERNATIONAL FINANCE (Contd.) Title Principal Field of Activity Professional Research Staff: Financial Operations and Policy Section (Contd.) Smith, Nancy J. Economist Activities of Export-Import Bank and International Bank; lending operations of other Government agencies; foreign security transactions. Summers, Thomas E. Economist Foreign investments and e c onomic devel opme nt s; long-term capital movements] foreign assistance and military aid programs; foreign monetary reserves. Special Studies Section Hersey, Arthur B, Chief Dahl, Frederick Economist U. S. and other countries1 trade and balance of payments. Miller, Mary F. Statistical Assistant U. S, foreign trade statistics. Reynolds, John E, Economist Foreign monetary, fiscal and balance-of-payments studies; GATT; commodity markets. Western European and British Commonwealth Section Furth, J. Herbert Chief Gearin, Thomas F. Economist Scandinavian Countries, Ireland, Australia, and New Zealand. -3BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DIVISION OF INTERNATIONAL FINANCE (Contd.) Title Principal Field of Activity Professional Research Staff: Western European and British Commonwealth Section (Contd,) Harris, Elinor R. Economist France, Italy, Belgium, Netherlands, Luxembourg, Spain, Portugal, and their overseas territories except Indo-China. Katz, Samuel !• Economist United Kingdom and the British Commonwealth excluding Australia, New Zealand, India, Pakistan, Ceylon, and Malaya. Central and Eastern European Section Wood, Ralph C. Chief Grimwood, Gordon B. Economist Germany, Austria, Yugoslavia, Finland, Liberia, Libya, and Ethiopia, Maroney, Mary M, Economist Greece, Turkey, and Near Eastern Countries. Far Eastern Section Whittington, Floyd L. Chief Irvine, Reed J. Economist Japan, China , the Philippines, Hong Kong, Formosa, and Korea. Maroni, Yves Economist South Asia. Latin American Section Emery, Robert F. Economist Chile, Peru, Bolivia, Ecuador, Columbia, and Venezuela, Helprin, Dorothy L, Economist Brazil, Cuba, Haiti, Dominican Republic, Costa Rica, Panama, Honduras, and Nicaragua. FEDERAL RESERVE BANK OF BOSTON Title Principal Field of Activity Research Officers: Ellis, George H. Director of Research In charge of research. Mllis, Parker B. Financial Economist Monetary and fiscal policies and developments• Professional Research Staff: Anderson, Paul S. Assistant Financial Economist Regional finance. Coughlin, Marguerite I. Industrial Statistician Industrial statistics. DiGiannantonio, Eleanor Librarian In charge of library. Doermann, Elisabeth Financial Statistical Clerk Editing of Monthly Review and supervision of charting. Eisenmenger, Robert ldi. Resource Economist Forestry and wood using industries. Gilmore, Donald R. Industrial Economist Industrial and business conditions—regional• Mitiguy, Harry R. Agricultural Statistician Agricultural developments. Pearson, Harold T. Financial Statistician Financial statistics. Price, Harold Industrial Statistician Industrial and business conditions—national. Robinson, Rcmney Regional Economist Foreign trade and regional economics. Sherman, John M. Industrial Statistician Industrial statistics. Smith, Howard G. Trade Statistician Retail trade and vacation business statistics. Thayer, Jarvis M., Jr. Manager and Trade Economist Supervisory, retail trade, editor of Monthly Review. Thompson, Eleanor Financial Statistical Clerk Financial statistics. FEDERAL RESERVE BANK OF NEVv YORK Principal Field of Activity- Title Research Officers: Roelse, Harold V. Vice President Coombs, Charles A. Manager, Research Department Bloomfield, Arthur I. Senior Economist Garvy, George Senior Economist Professional Research Staff: Balance of Payments Division Klopstock, Fred H. Chief Studies of U.S. international financial policy and balance-of-payments problems for use in the formulation of bank policy with respect to foreign financial relations; international capital movements. Aubrey, Henry Petschek, Maria Economist Research Assistant Broad studies of U.S. financial relations with the rest of the world. Foreign investments, international capital movements, and commodity markets. Egan, James Statistician Foreign aid; foreign trade; GATT; trade and tariff policies. Hearle, Marjory Statistical Clerk Gold statistics. Administrative Assistant Statistician Statistician Statistical Clerk Collection and editing of data and rep orts on capital movements; contacts with banks, commercial concerns, and brokers. Latin American export credit information. Shipments and receipts of U.S. currency to and from foreign countries. Analysis Section Reports Section Church, Sally Collins, Marie Murray, Mae Damon, Frances -2- FEDERAL RESERVE BANK OF NEW YORK Title Principal Field of Activity Professional Research Staff: Balance of Payments Division (Contd.) Editorial and Charting Section Cantwell, Abigail Research Editorial Assistant Copy editor for all publications prepared in Research Department including Monthly Review, Annual Report, and Business and Financial Summary. Finter, Margaret Supervisor departmental budget; determining space allotments for Monthly Review articles3 coordinating departmental reports for the Manager0 Supervision of the Chartists. Kotin, Evangelyn Lagois, Maria Snipes, Frances Statistical draftsman Statistical draftsman Statistical draftsman Charts for all publications and for directors, officers, and economists. Also special lettering work. Domestic Research Division Schiff, Frank W. Chief Analysis and interpretation of all aspects of the nation's economy, with emphasis on monetary, credit, and fiscal developments - for use in formulation of Bank policies. Studies of economic developments in the Second District. Link, Robert G. Lindsay, Robert Ritter, Lawrence Novack, David E. Pluck, Dolores (part time) Economist Economist Economist Research Assistant Research Assistant Monetary Economics Unit. Analysis of credit policy and open market operations and money market developments; reports for Federal Open Market Committee, -3FEDERAL RESERVE BANK OF NEW YORK Title Principal Field of Activity Professional Research Staff: Domestic Research Division (Contd.) Auerbach, Irving Pluck, Dolores (part time) Money Market Specialist Research Assistant Money Market Unit. Analysis and projections of factors affecting money market and bank reserves; reports for open market operations and money market conditions. Wald, Haskell P. Wright, Kenneth Bloch, Ernest Frane, Lenore Guttentag, Jack * Gandert, Gertrude R Q +.+.Qrr~\ -i Q r.Qmnl 1 Battaglia, Camille &* Economist Economist Economist Economist Economist Statistical Clerk Research Assistant Treasury Finance and Capital Market Unit. Analysis and estimate of Treasury receipts and expenditures, Federal Budget, public debt, and Government corporation and credit agencies; security markets, corporation finance and housing finance. Sternlight, Peter Wojnilower, Albert Brimmer, Andrew F. Scherer, Joseph Schindler, Ralph Economist Economist Economist Economist Statistician Business Conditions Unit. National income, production, distribution, prices, and Second District economic data. Bruce, Mary C. Administrative Assistant General supervision and administrative functions, including budget, personnel reports, research files, and publications. Financial and Trade Statistics Division MclAihinney, Madeline Chief * Also assistant to Mr. Garvy. ## Also spends some time in the Administration Unit. Collection, assembly, analysis, and distribution of banking, financial, and trade data for the Second District; preparation of summaries of banking, federal Reserve, and other data related to member bank reserve positions. -uFEDERAL RESERVE BANK OF NEh YORK Title Principal Field of Activity Professional Research Staff: Financial and Trade Statistics Division (Contd.) Milkiewicz, Victor Hendrickson, John Hi Barney, Viola Statistician Statistician Statistical Clerk Federal Reserve and Member %" Statistics" Federal Reserve condition statement statistics and reports received from member banks; weekly and monthly reporting banks; monthly condition statements of all member banks; quarterly interest rate survey; bank debit series; velocity of deposits. McCalley, John Vilagner, Jane Nelson, Sagred Economist Statistician Statistical Clerk Money Market and Security Market Statistics. Daily money market reports and reports of capital market transactions• Weekly analysis of gains and losses in member bank reserve funds. Reports on stock exchange credit. Brown, Janet Cohn, Hilda Administrative Assistant Statistical Clerk Consumer Credit and Retail Trade Statistics. Collection, distribution, and analysis of data on department store, apparel store, and furniture store trade in the Second District; consumer credit* Helf, John Lampe, Fred Ziegler, Martin Economist Statistician Statistical Clerk Member bank operating ratios. Survey of demand deposit ownership. Other analyses of financial data; preparation of special studies and articles; special projects. FEDERAL RESERVE BANK OF NEW YORK Title Principal Field of Activity Professional Research Staff: Financial and Trade Statistics Division (Contd.) Alber, Charlotte Assistant Economist Studies of department store trade. Indexes of hourly and weekly earnings in nonagricultural industries. Special studies and surveys, Tweed, Russell Statistician Commercial and finance paper outstanding. Special studies of financial statistics. Foreign Research Division Kriz, Miroslav Chief Analysis and interpretation of foreign and international economic and financial developments for use in the formulation of Bank policy with respect to foreign financial relations and to domestic questions that are closely affected by developments abroad. Fousek, Peter DeVries, Rimmer Hein, John Economist Economist Economist Continental Yiiestern Europe, Special fields - central banking, BIS, European Payments Union, Dernburg, Hans Economist Central and Eastern Europe, Ehrlich, Edna Economist Far East - Pacific. field - IBRD. Schott, Francis Sedwitz, 1alter Economist Economist Latin America, Special field - silver, Glaessner, Philip Holmes, Alan . Clarke, Stephen Hughes, Jonathan Economist Economist Economist Economist British Commonwealth, Special field; IMF. On leave of absence. FEDERAL RESERVE BANK OF NEK YORK Principal Field of Activity Title Professional Research Staff: Foreign Research Division (Contd.) Reed, John Economist Case, Vvinthrop Research Editor Huff, Gladys Administrative Assistant Mediterranean - Near East, Special field - gold. Certain administrative duties, supervision of clerical personnel and certain stenographic work. Reference Library Division Bogardus, Janet Chief Librarian Selection, acquisition, processing, and distribution of published materials and other documents or studies in the field of central banking, general economics, and world affairs. Reference and information service. Administration and supervision* Williamson, Emma Senior Librarian Cataloging and supervising. Harvey > Helen Librarian Reference work and requests for books; foreign bank reports. Kelley, Genevieve Librarian Books and periodical orders, Richey, Dorothy Librarian Reference work and requests for books. Selection of reference materials. Interlibrary loan. FEDERAL RESERVE BANK OF PHILADELPHIA Title Principal Field of Activity Research Officers: Bopp, Karl R. Vice President Alderfer, Evan B, Industrial Economist Industry. Anderson, Clay J, Financial Economist Finance, Eastburn, David P. Financial Economist Finance• Professional Research Staff: Bunting, John R., Jr. Associate Economist Business Byrnes, James C. Assistant Statistician Statistics. Kartman, Florence M« Librarian Rehfuss, J« Frank Manager, Research Department; Assistant Federal Reserve Agent General Management. Snader, Kenneth M. Statistician Statistics* Zimmermann, Doris F. Research Librarian FEDERAL RESERVE BANK OF CLEVELAND Title Principal Field of Activity- Research Officer: Hostetler, L, Merle Director of Research Professional Research Staff: Balles, John J. Senior Economist Finance. Brown, Dorothy F. Administrative Research Assistant Publications and industry. Brunner, Robert 0. Senior Research Assistant Trade, Cutler, Addison T, Editor of Research Publications Trade and publications. Fishbaugh, Charles P. Senior Research Assistant Trade. Hoover, Robert G. Junior Economist Agriculture, Hummel, Claude I* Senior Agricultural Specialist Agriculture. Jones, Oliver H# Economist Finance. Kiel, Fred 0. Senior Economist Industry and office management. Klahre, Ethel Librarian Nichols, Joan A, Research Assistant Finance, Ormiston, Thomas E. Junior Economist Industry, Thompson, Helen Junior Economist Finance. FEDERAL RESERVE BANK OF RICHMOND Title Principal Field of Activity Research Officers? 1/i/illiams, Charles V». Vice President Baane, J. Dewey Assistant Vice President Money markets and credit. Storrs, Thomas I* Assistant Vice President Supervision of Research Department* Professional Research Staff: Angle, Elizabeth V«# Statistical Associate Current reporting series. Chambers, Benjamin P. Business Economist and Statistician Trade and industry; business developments. Clarke} Sada L, Research Associate Agriculture. Lumpkin, R. Pierce Financial Economist Banking and credit; Federal Government finance; income. MacDonald, Edmund F. Industrial Economist Industry; population and resources; state and local finance. Porter, Horace G. Agriculture Economist Agriculture. Statistical Section: Stinnett, Frank D., Jr. Administrative Assistant Head of section. Library: Yvalford, Bess P. Reference Librarian Head of library. FEDERAL RESERVE BANK OF ATLANTA Title Principal Field of Activity- Research Officers: Rauber, Earle L» Vice President and Director of Research General direction and administration of Research Department, Taylor, Charles T. Assistant Vice President Chief administration officer under Director of Research; research in monetary and credit policy. Professional Research Staff: Atkinson, Thomas R. Economist Research in central banking and financial statistics. Brandt, Harry Associate Economist Industrial research. Davis, 1. M, Assistant Economist Research in central banking. Frashier, Anne E, Assistant Librarian Vertical files and bibliographies. Harris, John T. Assistant Economist Agricultural research and agricultural relations• Johnston, Linda Librarian In charge of Research Library. Kantner, Arthur H. Economist Agricultural research and agricultural relations. Kendall, Leon Assistant Economist Research in consumer spending, income, and saving. Overmiller, Charles S. Associate Economist Research in banking and finance. FEDERAL RESERVE BANK OF CHICAGO Title Principal FieDd of Activity Research Officers: Mitchell, George W # Vice President Vice President and Director of Research. Baughman, Ernest T. Assistant Vice President General. Professional Research Staff: Aufdenkamp, Jo Ann Librarian Research library. Benson, Sherwood Staff writer General. Cheadle, Harold L. Economist Public relations - Economics and banking. Cloos, George W. Economist Business finance. Emmar, Robert E. Economist Statistical series. Goldstine, Abner D. Economist Banking and foreign trade. Herr, William Mc# Economist Agriculture. Hobby, Elizabeth N. Research Assistant General and regional economics. Holland, Robert C. Economist Banking and credit. Hughes, Thelma L. Chief Business statistics section. Kolz, Clarence W. Chief Financial statistics section Kutish, L. John Economist Regional economics and agriculture. Leven, Charles L. Economist Regional economics. Netzer, Dick Economist Regional economics and public finance. Nichols, Dorothy M # Economist Banking and credit. Petty, Mary T. Economist Banking and credit. Rymarowicz, Lillian M« Economist Public finance. -2FEDERAL RESERVE BANK OF CHICAGO Title Principal Field of Activity Professional Research Staff: Schneider, Theodore H. Economist Banking and credit, Stiles, Lynn A. Economist Public finance. Thomas, Maria H # Research Assistant General, Wanner, Mary Lu Research Assistant Banking and credit* warton, Patricia A, Chief Publications and Reports section. FEDERAL RESERVE BANK OF ST. LOUIS Title Principal Field of Activity- Research Officer: Abbott, William J#, Jr. Vice President Professional Research Staff: Bowsher, Norman N. Economist Finance, Kester, Viiilliam H. Assistant Manager, and Economist Business• Kircher, Harry B. Economist Editorial. Luttrell, Clifton B, Economist Agriculture• Meigs, Alexander J. Economist Business. Pfaff, Constance A. Research Librarian Library. Robertson, Ross M« Economist Finance, FEDERAL RESERVE BANK OF MINNEAPOLIS Title Principal Field of Activity Research Officers: Parsons, Franklin L. Director of Research Litterer, Oscar F. Business Economist Professional Research Staff: Bender, wilma R. Senior Research Assistant Supervise trade statistics section. Harding, Martha V. Research Assistant Statistical. He.1J.iweg, Douglas R, Economist Monetary and banking conditions• Hutchison, John E. Administrative Assistant Assistant to Business Economist. Lehman, Leland C. Assistant Economist Business Special regional studies. MacDonald, John A. Department Head General administration and supervision; statistical series. Nelson, Clarence Yv. Economist Business conditions, regional studies, and editor, Monthly Review. Richards, Sara L» Senior Research Assistant Publications. Strand, Mildred R. Librarian Library, Thomson, Marian S. Senior Research Assistant Supervise banking statistics section. Worcester, Robert Vn. Agricultural Economist Analysis of agricultural conditions, and editor, Farm News, FEDERAL RESERVE BANK OF KANSAS CITY Title Principal Field of Activity Research Officer: Tow, Clarence W. Vice President Professional Research Staff; Alexander, Donald L. Publications Editor Planning, editing, and distribution of publications; public information. Billington, Wilbur T. Industrial Economist Industry; aggregative analysis; business finance. Cawthorne, D. R. Assistant Director of Research Administration; money and banking; Treasury finance; money markets; business finance0 Doll, R, J. Agricultural Economist Agriculture, including agricultural credit• Gies, Thomas G, Financial Economist Money and banking; Treasury finance; money markets; business finance. Gramley, Lyle E. Financial Economist Money and banking; Treasury finance; money markets; business finance. Lee, Charles E. Research Assistant Industry, Lewis, Carl B. Research Assistant Agriculture, MacDonald, Mary Jane Librarian Research library. Parsons, Carl R. Statistical Assistant Statistical series; statistical surveys; department store trade. Peterson, G. A. Agricultural Economist Agriculture, including agricultural credit. Reinicke, Nancy L, Research Assistant Finance, Self, Kenneth B, Statistician Statistical series; statistical surveys; department store trade. FEDERAL RESERVE BANK Of1 DALLAS Title Principal Field of Activity Research Officers: Rice, Morgan H, Vice President and Secretary of the Board General supervision of Research5 Secretary of the Board of Directors; and operating management• Coldwell, Philip E. Director of Research Direct supervision of Research, Professional Research Staff: Levin, Bertram F. Financial Economist Commercial and central banking, money markets, and Government securities. Peacock, Leslie C, Financial Economist Commercial and central banking, money markets, and Government securities. Pitt, Roger E. Supervisor of S t a t i s t i c a l and Reporting Section Supervises statistical i/ork on current reporting series handles statistical techniques. Post, Marvina Research Administrative Assistant Administrative duties in Research Department and in activities relating to the office of the Secretary of the Board. Rogers, Virginia Ivu Special Assistant Supervision over and editing of bank publications and supervision of department files. Rowe, J. Z• Agricultural Economist Agriculture, Smith, Zenas B. Research Administrative Assistant Collection and compilation of statistics, regular reports, and surveys. Vtfilkerson, Mabel Research Librarian Research library. Williamson, Robert B. Industrial Economist Large- and small-scale indus try; employment; u t i l i t i e s ; and construction. FEDERAL RESERVE BAM OF SAN FRANCISCO Title Principal Field of Activity Research Officer: Wheeler, Oliver P. Vice President Professional Research Staff: Buma, Harold L, Associate Economist Industrial economics. Responsible for gross national product, industrial production, and related subjects. Einzig, Robert Economist Monetary and fiscal problems. Holden, Elizabeth Librarian In charge of library. Hurst, William A. Economist Foreign trade and finance. Lynn, Gault W. Supervisor of Research Supervisor of Monthly Review, related publications, and research. Economist, monetary and fiscal problems. Man, Lynn Assistant Economist Foreign trade and finance. Miller, Seymour H. Associate Economist Monetary and fiscal problems. Neumann, Donald A. Associate Economist Industrial structure of the District, prices, and special industry studies. Papera, D. Robert Associate Economist Special industries study. Peterson, Charles R. Assistant Economist and Supervisor of Statistical Supervisor of Statistical Reports Section, Reports Schwartz, Harry S. Head, Research Department Supervisor of department administration, operations, and special projects. Economist, industrial problems. Snodgrass, Donald Assistant Economist Agricultural economic problems and research. - 2 - ' • FEDERAL RESERVE BANK OF SAN FRANCISCO Title Principal Field of Activity . Professional Research Staff; Vtfaldorf, Vvilliam H. Associate Economist Personal income, consumer expenditures, and special regional studies, Wilson, Ruth V. Associate Economist Special studies and assistant to Mr. Wheeler.
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