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161
BOARD OF G O V E R N O R S
R-908
OF THE
FEDERAL RESERVE SYSTEM
WASHINGTON
A D D R E S S OFFICIAL C O R R E S P O N D E N C E
TO THE BOARD
October 18, 191+1
Dear Sir:
There is enclosed for your information a
copy of a letter dated October l6 received from lUr.
Floyd B. Odium, Director, Division of Contract Distribution, Office of Production Kanagement, written in
reply to my letter of October 11, and a copy of my
letter of this date to L'r, Odium,
It is hoped that you will be able to assure
permanent employees of the Bank temporarily transferred
to the pay roll of the Division of Contract Distribution
that upon application they wi 11 be reemployed by the
Bank, without loss of seniority or other rights,-at any
time within six months after they are transferred to
the pay roll of the Division of Contract Distribution•
Very truly yours,
9,
Enclosures 2
TO TETC FRSSIDBBTS OF ALL FEDERAL RESERVE B A M S
COPY
OFFICE OF PRODUCTION EAMGE2.ENT
Social Security Building
Washington, D, C.
jL62
October l6, 19l{.l
Hon, Ernest G, Draper
Board of Governors
Federal Reserve System
Wa shington, D, C,
My dear Governor Draper;
I have your letter of
dent of each Federal Reserve
spirit expressed therein, I
pressure under which we have
October 11, a copy of which is going to the PresiBank, and I greatly appreciate the cooperative
am particularly grateful in view of the extreme
been reorganizing and expanding.
There are three specific points, however, which I should like to clarify.
First, it is my understanding that you will be agreeable to having our
offices remain in. Federal Reserve Banks, provided, of course, that after we receive our appropriation we will pay rent to you, and that the salaries of our
staffs are also paid directly by us, as well as other expenses,
I believe we
will find in a number of cases that it is desirable to remain in the present
locations.
Second, we cannot definitely advise you at this time just when our n e w
appropriation will become available although it should be certainly within the
next sixty days e You will appreciate, of course, that until this appropriation
is forthcoming we must depend upon you to continue disbursements on our behalf
as heretofore, your reimbursement here continuing from our old appropriation, I
understand that in some instances there is the impression that the present arrangements may not continue beyond November 1, 19ljl,
The third point I have in mind has particularly caused concern. As you
know, most of our clerical employees are "loaned" from the Reserve System. We
believe that many of them may hesitate to transfer under the new arrangement
directly to our payroll and thereby sever their connection with the System, for
employment in a temporary organization* It would be unfortunate indeed at this
particular time if any wholesale replacement of the personnel were necessary.
I would greatly appreciate it therefore if you could implement the
cooperation expressed in your letter of October 11 by a further communication
to the Presidents of your member banks suggesting that if possible any of their
former employees going directly on our payroll be assured the opportunity of
resuming their status with the bank at any time within six months after the
change is made, without loss of seniority or other rights,
Thanking you again for what you have done and are doing to further the
essential work of this division, I am
Sincerely yours,
CSigned)
F, B, Odium,
Floyd B, Odium, Director,
Division of Contract Distribution
163
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0
*" Y
R-908b
BOARD OF GOVSFliCRS OF THE
FEDERAL RESERVE 8YSTEL
Washington
October 18, 19i».l
Mr, Floyd B. Odium, Director,
Division of Contract Distribution,
Office of Production Management,
Washington, D. C.
fty dear Mr. Odium:
This m i l acknowledge receipt of your letter of October 16
in reply to my letter of October 11 regarding services rendered your
Division by the Federal Reserve Banks.
I am sure that all the Federal Reserve Banks and Branches
that have space available will be glad to have you remain in your
present locations if you so desire, provided they are reimbursed for
space on the same basis as they are reimbursed for space by other
governmental agencies as soon as you receive your new appropriation,
which you state should become available certainly within the next 60
days.
In accordance with your request, the Federal Reserve Banks
m i l continue, as heretofore, to pay on a reimbursable basis the expenses incurred by the offices of the coordinators located in Federal
Reserve Bank and Branch buildings until December 1, 19lj 1, or such
earlier date as you are able to make the necessary arrangements to pay
such expenses direct. As stated in my letter of October 11, it is
understood that all arrangements for your n e w field offices, located
outside Federal Reserve Bank and Branch buildings, including payments
for salaries and other expenses incurred by them, wi 11 be taken care of
by your office direct and not by the Federal Reserve Banks.
I a m sending a copy of this letter to the President of each
Federal Reserve Bank with the request that he cooperate with your
office to the fullest extent practicable with respect to the third point
raised in your letter, i.e., that wherever possible he assure permanent
employees of the Bank transferred to your pay roll that upon application
they will be reemployed by the Bank, without loss of seniority or other
rights, at any time within six months after the change is made.
Very truly yours,
Ernest G. Draper.
@FedFRASER