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1204 F E D E R A L R E S E R V E B O A R D WASHINGTON X-3001 December 24, 1$20, Dear In accordance with the plan of c l a s s i f y i n g and rating employees of the Board, made e f f e c t i v e July 1, 1920, there i s enclosed herewith a notice of your rating and r e l a t i v e standing in c l a s s i f i c a t i o n , as based upon t h i s rating, and your salary as of January 1, 1921, as approved by the Federal Reserve Board, In behalf of the Board and i t s o f f i c e r s , I desire to express to you appreciation of the interest you have shown in carrying on your part of the work of the Board', and to wish you a very Merry Christmas and a Happy New Year. Very truly yours, R. G. EMERSON. Assistant to Governor.