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- R-865 BOARD OF GOVERNORS OF THE FEDEF.AL RESERVE SYSTEM Statement for the Press August 14, 1941 For immediate release The Board of Governors of the Federal Reserve System met today with representatives of the twelve Federal Reserve Banks in connection with the regulation of installment credit. Ronald Ransom, Vice Chairman of the Board, presided, and the meeting was opened with a statement by Marriner s~ Eccles, Chairman of the Board, outlining the purposes of in- stallment credit regulation as a supplementary step in the Government's program to combat inflation. In administering regulations to be issued under authority of the President's Executive Order, the Federal Reserve System will utilize the twelve Federal Reserve Banks and their twenty-four branches, thus making available the System's practical experience in the field of credit and decentralizing so far as possible the administration of the regulat~ons. In addition to members of the Board and staff, those attending the meeting representing the Federal Reserve Banks were: Federal Reserve Bank Name Title Boston E. G. Hult Carl B. Pitman Assistant Cashier Assistant Cashier New York L. R~ Rounds L· B. Allen William F. Treiber First Vice President Chief, Credit Dept. Assistant Counsel R-865 - 2 Title Fed8ral Reserve Brnk Philadelphia. A. H. Willia.i!lS c. A. S1enkiewicz R. R. Williams PresidEc;nt Vice President Sh.tistician Clevelend F. J. Zurlinden Ralph Tyler First Vice President Kember Le[;al Sh.ff J. G. Fry M. G. Wdlace Vice Presidont Couns.sl Athmta Ualcol:n H. Bryan Pollard TurmLJl First Vice ?resident Counael Chicago Paul C. Hodge Cla.re~ce T. Laibly As~ista.nt Richmond St. Louis Chester C. D~vis G. Cra.use c. Counsel Exe.rr,iner Presldent H.,;ad of Personnel Depu.rtment Minneapolis J. N. Peyton E. w. Swanson T. H. Hode;son R. D. :::c..ker President Vice Presidunt Assistant Counsel Aasistm1t Head, Statistic~l Department Kansas City D. W. Woolley Willium Phillips Assistant Cashier Assistant Cashier Dallas R. R. Gilbert E. B. J:.ustin President Assistant Cashier San Francisco Willium A. Day W. M. Hale H. F. Slade President Vice Fresidont ~ssistant Cashier 40
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