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A meeting of the executive committee of the Federal Open Market Committee was held in the offices of the Board of Governors of the Fed eral Reserve System in Washington on Monday, June 28, 1943, at 9:10 a.m. PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Sproul, Vice Chairman Ransom Evans Paddock Mr. Morrill, Secretary Mr. Carpenter, Assistant Secretary Mr. Goldenweiser, Economist Messrs. John H. Williams, Bryan, and Wheeler, Associate Economists Mr. Wyatt, General Counsel Mr. Dreibelbis, Assistant General Counsel Mr. Clayton, Assistant to the Chairman of the Board of Governors Messrs. Piser and Kennedy, Chief and Assistant Chief, respectively, of the Government Securities Section, Divi sion of Research and Statistics of the Board of Governors Mr. Miller, Assistant Vice President of the Federal Reserve Bank of New York (in the absence of Mr. Rouse, Manager of the System Account, who had re mained in New York in connection with the Treasury financing that had just been announced) Mr. Berntson, Clerk in the Office of the Secretary of the Board of Governors Messrs. Szymczak, McKee, Draper, Fleming, McLarin, and Day, members of the Federal Open Market Committee Messrs. Leach, Young, and Peyton, alternate members of the Federal Open Market Committee Messrs. Alfred H. Williams, Leedy, and Gilbert, Presidents of the Federal Reserve Banks of Philadelphia, Kansas City, and Dallas, re spectively 6/28/43 -2Messrs. Hitt and Powell, First Vice Presi dents of the Federal Reserve Banks of St. Louis and Minneapolis, respectively Messrs. Sienkiewicz and Edmiston, Vice Pres idents of the Federal Reserve Banks of Philadelphia and St. Louis, respectively Mr. Dolley, Economic Adviser of the Federal Reserve Bank of Dallas Upon motion duly made and seconded, and by unanimous vote, the minutes of the meeting of the executive committee of the Federal Open Market Committee held on May 15, 1943, were approved. Upon motion duly made and seconded, and by unanimous vote, the actions taken by the members of the executive committee on May 29 and June 4, 1943, in increasing to $500,000,000 and $1,000,000,000, re spectively, the limitations on the author ity of the New York Bank to increase or decrease the amount of securities held in the System account and to purchase for the System account short-term certificates of indebtedness for the temporary accommo dation of the Treasury, were approved, ratified, and confirmed. Upon motion duly made and seconded, and by unanimous vote, the transactions in the System account during the period May 17 to June 26, 1943, inclusive, as reported daily by the Federal Reserve Bank of New York to the members of the executive committee, were approved, rati fied, and confirmed. 6/28/43 Thereupon the meeting recessed to reconvene following the meet ing of the Federal Open Market Committee. Secretary Chairman.
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