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FEDERAL RESERVE BOARD 2 WASHINGTON A D D R E S S OFFICIAL. C O R R E S P O N D E N C E T O T H E FEDERAL RESERVE BOARD X-8048 October 6, 1934 Bear Sir: At a recent meeting, the System Committee on l e g i s l a t i v e Program authorized the technical s t a f f to obtain such help as might be necessary to accomplish i t s purpose expeditiously. It i s antic- ipated at t h i s time that the additional services required w i l l be one or two junior a s s i s t a n t s and two stenographers, bringing the t o t a l expenses of the committee, including the salary of Mr. Walter R. Stark,to an amount not to exceed $2,000 per month. The action of the committee, which meets with the Board's approval, was taken with the understanding that the expenses would be paid by the Federal Reserve Bank of New York and a l l o c a t e d among the twelve Federal reserve banks i n the manner referred to i n the Board's l e t t e r of September 25, 1934, X-8020, with regard to the salary of Mr, Walter R. Stark, secretary of the committee. I t w i l l be appreciated i f you w i l l submit to your directors the matter of the a l l o c a t i o n to your bank in the manner referred to of a portion of the additional expense involved, and forward to the Board advice of their decision. Several of the banks, i n response to the Board's l e t t e r of September 25, have already adv i s e d of approval by their directors of the a l l o c a t i o n to the X-8048 2 1 8 -2- banks of a portion of the expense involved i n connection with the employment of Mr. Stark. Very truly yours, L. P. Bethea, Assistant Secretary. To the Chairmen of a l l Federal reserve "banks. r
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