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INDEX TO MINUTES OF BOARD OF GOVERNORS CF THE FEDERAL RESERVE SYSTEM 1947 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis KEY TO INDEX Branch Banks, Domestic, FRBanks and Foreign, see Branch banks Consumer Credit, see Regulations, Board of Governors, 71 Director of FRBanks and Branches, see Directors Guarantee of War Loans, see War Loans National Banks are listed under heading National Banks Section 32 of Banking Act of 1933, see Relations with Dealers in Securities Securities Exchange Act, see Securities Exchange Administration State Banks are listed under State Member Banks, Membership and Nonmember Banks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INDEX 1947 IlAtl 1 Pages Acceptances up to 100% of capital and surplus: American National Bank of Austin, Texas, authority 3/18 rescinded American National Bank of Terrell, Texas, authority 3/18 rescinded Bank of Commerce and Trusts, Richmond, Virginia, authority 14/9 rescinded Central National Bank of Richmond, Virginia, authority 14/9 rescinded Citizens and Peoples National Bank of Pensacola, Florida, 1/23 authority rescinded Citizens National Bank of Hillsboro, Texas, authority 3/18 rescinded First and Merchants National Bank of Richmond, Va., authority 14/9 rescinded First National Bank of Baltimore, Maryland, authority 1 4/ 9 rescinded First National Bank in Brownwood, Texas, authority 3/18 rescinded First National Bank of Clarksville, Tennessee, authority 1/23 rescinded First National Bank of Danville, Virginia, authority 14/9 rescjnded 3/18 First National Bank of Navasota, Texas, authority rescinded First National Bank of San Angelo, Texas, authority 3/18 rescinded 3/18 First National Bank of Waco, Texas, authority rescinded Maryland Trust Company, Baltimore, Maryland, authority 14/9 rescinded Mercantile-Commerce National Bank in St. Louis, Mo., authority to be rescinded unless objection sub1/27 mitted by bank 3/21 Authority rescinded Merchants' National Bank of Hampton, Virginia, authority 14/9 rescinded authority Virginia, National Bank of Commerce of Norfolk, 11/9 rescinded National Marine Bank of Baltimore, Maryland, authority rescinded 11/9 Peoples National Bank of Rock Hill, S. C., authority rescinded 4/ 9 Savannah Bank & Trust Company of Savannah, Georgia, authority 1/23 rescinded Seaboard Citizens National Bank of Norfolk, Virginia, authority rescinded 14/9 South Carolina National Bank of Charleston, S. C., authority 14/9 rescinded State National Bank of Corpus Christi, Texas, authority 3/18 rescinded Western National Bank of Baltimore, Maryland, authority rescinded 4/ 9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 421 421 5140 540 101 421 540 539 421 101 540 421 421 421 539 132 445 540 5140 539 540 101 54o 54o 421 ')4c) 2 Pages Acquisitions of stock or assets of competing companies, dis3/14 cussion of including in Kefauver Bill Addresses: Distribution for Board members or staff, regulations to reduce expenses, copies to be sent to Board 3/20 members and senior staff Advertisements: American Instalment Credit Corporation, consumer credit statistics, investigation to be made re, 3/24 reply to letter from Mr. A. E. Duncan Automotive in Plan Credit Complaints re American Bank News, data improperly ascribed to FRBulletin b/2 and material misleading Kelley Blue Book Official Guide, attention called to type 1/22 to conform with Board's request Inwith discussed be to aspects Regulation g, misleading 1/13 dustrial Bank of Commerce of New York Sears Roebuck & Co., Durham, N. C., advertisement re vacuum cleaners in violation of Regulation W, matter referred to FRBank of Richmond, advice to Mr. 10/ 8 Kelly Affiliates: Condition reports, forms and instructions for next call date 6/ 2 sent to FRBanks John R. Coppin Company, determined not to be affiliate of Peoples-Liberty Bank and Trust Company, 11/28 Covington, Kentucky Merchants & Newark Trust Company, Newark, New Jersey, affiliate reports covering J. S. Rippel & Company, Guaranty Company of New Jersey, and Securities Company of New Jersey, requirements 3/24 for submission waived Jersey, New Hackensack, Peoples Trust Company of Bergen County, expenditure for acquisition of stock of Westwood Investment Company, affi]iate holding title to banking premises occupied by Westwood branch, 5/14 approved Agnew and Fayerweather v. Board, suit regarding removal of bank directors, statement to be published in January 1/ 7 issue of FRBulletin 3/ 7 Aiken, Senator George D., employees of Board, statement sent to Air conditioning: 4/30 Charlotte Branch, no objection to completion of FRBank of St. Louis, expenditure for alterations to fourth 3/ 5 floor of building, no objection to No objection to expenditure for installation and pur8/27 chase of compressor and necessary accessories Air travel: 11/ 7 Amendments to Board's travel regulations approving http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 407 427 451 5oo 99 47 1409 829 1677 450 725 21 351 664 336 1218 1537 3 Pages Alaska: Legislation to authorize admission as State, amendment suggested re membership of banks in FRSystem, comments requested from FRBank of San Francisco Membership of banks in FR.System, question in case of Statehood, memo and draft of letter to Congressional committee to be prepared for consideration Alien Property Custodian: Trading with the Enemy Act, section 5(b), retention favored by Board, advice to Mr. L'Heureux Allman, Paul P., Regulations T and U, applicability to credit for purchase of stock of Detroit Edison Company American Agricultural Editors Association, meeting and luncheon at Board American Bankers Association: Attendance of Board members and staff at annual conventions, policy re approved in connection with convention to be held at Atlantic City Consolidations of State and national banks, report of Mr. Vardaman on meeting with representatives on possible legislation to equalize Conversion or consolidation of national banks with State banks, letter to Mr. Needham re proposed bill to permit Cooperation among banks to ensure sound lending standards, efforts to secure voluntary action Currency movements at member and nonmember banks, discussion with FBI suggested Luncheon invitation to be extended to State Associations visiting Washington, advice to be sent to Mr. Needham Midwinter Trust Conference, attended by Mr. Vardaman Regulation J and circulars governing collection of checks, amendments expected on procedure as to delayed return of unpaid items Robbery, precautions against, possibility of asking FBI to discuss with Section 5219 of U. S. Revised Statutes, taxation of national banks by States, proposed amendment to, no objection to, advice to Mr. Needham S. 408, statement of Mr. Hanes against at meeting of executive committee of Association of State Bank Supervisors, statement of Chairman Eccles Taxation, advantages re consolidation or merger of national and State banks, proposed amendment to remove, Mr. Vardaman to advise that Board would favor legislation that would also remove discrimination against member banks re capital requirements for banks operating branches http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/25 1103 8/ 7 1150 3/ 3 320 4/ 1 495 5/ 6 684 6/20 954 3/14 401 12/ 5 1710 11/18 1571 3/27 470 5/ 1 2/ 4 671 163 12/ 9 1717 8 303 1/30 152 4/11 553 3/ 7 345 2/ 4 Pages American Bankers Association: (Continued) Trust Assets, information in examination reports of State member banks to be furnished to Mr. 12/24 1828 Stephenson American Instalment Credit Corporation: Consumer credit statistics, in advertisement, investigation to be made re, reply to letter from 3/24 451 Mr. A. E. Duncan Complaints re American Bank Credit Plan in Automotive News, data improperly ascribed to FRBulletin 14/2 5oo and material misleading American-Philippine Financial Commission: Cross, Howard, assigned to for three months, traveling expenses and per diem to be paid by State Department, with salary to be continued by FRBank 11 1/7 of New York 1204 8/20 Exter, John, report of work as member of Wirth, Eleanor, clerk-stenographer, assignment to approved, travel expenses and per diem to be paid by 33 Vio State Department Anderson, M. O., NADA, Regulation a, reply to letter re continua5/ 9 699 tion Annual reports: Board of Governors for 1946: Capital requirements of member banks, legislation to remove discrimination against, recommendation 6/6 882 to be included in section include to Eccles Chairman by suggested Change for FOMC and discussions of monetary policies instead of inclusion in annual report of FRBank of New York, memo to be presented to Board for 14/8 529 study and discussion of Change to include section for FOMC and discussions national policies, memo of Chairman Eccles approved, further conference to be held with Mr. 4/15 579 Sproul be to not statement Classification plan for officers, 802 5/27 published in, advice to Mr. Wilbur requestbank any to sent Distribution, one copy to be ing it, no change in list for members of Con14/8 535 gress and others bank requestany to furnished be to copy Distribution, 4/16 589 ing it, change in procedure re 1946, covering entries of draft of record Board, Policy approved for publication in, references to views of members of Board not present and not 2/21 237 voting on actions to be deleted 4/25 646 Policy record, FMC, approved for inclusion in Revised draft to include statement re capital requirements for State banks approved with usual dis6/17 931 tribution procedure to be followed http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 Pages Annual reports: (Continued) FRBank of New York for 1946, discussions of monetary, credit and other national policies, suggestion of Chairman Eccles that section in Board's annual report be reserved for FOMC and such discussions, memo to be presented to Board for study and discussion Change to eliminate discussions of national policies, memo of Chairman Eccles approved, further conference to be held with Mr. Sproul FRBanks, discussion of question of publication by Authority of Board re issuance by FRBanks or by FOMC of reports that discuss national policy questions, Mr. Vest to submit opinion on Federal Reserve Board for 1917, designation of reserve cities, statements discussed at Presidents Conference First Security Corporation of Ogden, Utah, report for 1946, reply to Mr. Volberg re form of Holding company affiliates, form FR 437, to be obtained, instructions to FRBanks Outside business activities of staff of Board, procedure re to be prepared by Personnel Committee Outside business and teaching activities of employees of Board's staff in Group M and above, procedure and form approved Retirement system, report to Board by Board's representative, memo of Mr. Szymczak re, question to be considered further Transamerica Corporation, extension of time to March 1 granted for filing, but special arrangement for extension of time for FR 437 discontinued in 1945 Granted extension of time for filing report on FR 437 Xisconsin al.nkshares Corporation, Milwaukee, Kis., annual report to be obtained on FR 437, forms and instructions re Appraisal guides: Automobiles, applicability to 1947 models, advice to FRBanks Kelley Blue Book, request for copies and notice re type of advertisement to be used Opposition to as provision of Regulation reply to letter from Mr. Raynor http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis )4/8 528 4/15 14/8 579 529 14/15 580 10/ 7 1378 8/13 1172 12/15 1765 1021 1465 11/24 1632 lo/31 1494 1/24 111 12/24 1828 lo/22 1473 4/25 639 1/22 99 14/7 525 6 Pages Appraisalguides: (Continued) Value of used automobiles, reply to inquiry from FRBank 2/)4 of Cleveland Arlington Memorial Amphitheatre: Murphy, Royal J., release to wprk on marble for six 1/16 months, not approved Assessments: FRBanks for expenses of Board for last half of 1947 6/20 FRBanks for expenses of Board for first half of 1948 12/15 Assets and liabilities of banks, publication of single all bank series by Board, Comptroller of the Currency and FDIC 6/5 Association of Reserve City Bankers: Absorption by FRBanks of transportation costs for cash items, letter from Mr. Baird suggesting discussion of such actions in advance lo/21 with, reply to be prepared Bank holding company legislation, suggestions re legislation, discussion at meeting of FAC 5/2o with Board Reimbursement of member banks for transportation costs on cash items, reply to letter from 10/31 Mr. Baird, President, approved Attorney General of United States: Question of including in discussions at Treasury of bank holding opmpanies 3/14 S. J. Res. 123, to terminate war time legislation, question of exemption of executive order No. 8843, consumer credit regulation, 6/10 advice requested in letter to Transamerica Corporation, investigation to be made re monopolistic aspects of expansion, ad10/31 vice to be sent to Wartime or emergency legislation, continuance of section 5(b) of Trading with the Enemy Act and executive Order No. 8843 desired, letter 12/12 to Mr. Clark Auditors, FRBanks: Conference to be held in Washington within next three months, Division of Examinations to make arrangements with Mr. Fogg if 1/10 agreeable, letter to Mr. Grady Conference to be held in Washington on April 14-16, list of representatives requested, letter to FRBanks 2/14 Audits: Certified statements filed by insured banks with deposits in excess of $5,000,000 in Illinois and Iowa, advice to FRBanks of Chicago and St. Louis re prckram of FDIC 1/16 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 174 68 965 1751 854 1466 760 1500 409 900 1511 1744 38 213 70 7 Pages Audits: (Continued) Certified Statements submitted for assessment purposes by insured banks, program of FDIC ex11/ 5 tended to Michigan and Wisconsin FRBanks, reports, procedure for submission, advice to FRBanks 9/ 4 Automobile Banking Corporation, Philadelphia, reply to letter suggesting limit on price of new cars to determine maximum credit value under 2/13 RegulationW Automobile Manufacturers Association, request for special tabulations of data from surveys of consumer 8/27 finances Automobiles: Board of Governors, use of, revised regulations to effect reduction in expenses, copies to be 3/2o sent to Board members and senior staff Plymouth station wagon and sale or trade-in of old station 2/25 wagon, referred to Mr. Draper Bachrach, M. J., Regulation W, question of constitutionality of Executive Order during peace, reply sent to Congressman Hess 4/3° Baird, Julian, President of Association of Reserve City Bankers, absorption by FRBanks of transportation costs for cash items, suggestion that actions of Board be discussed with Association in advance, reply to 1021 letter to be prepared Reimbursement of member banks for transportation costs on lo/31 cash items, reply to letter approved Baldridge, Holmes, Department of Justice, discussion of Transamerica Corporation with, state2/25 ment of Mr. Townsend Bank holding companies: Amendments to S. 829 to be recommended by Board, approved 5/23 (See Holding Company affiliates) Bank holiday: Act of March 9, 1933, section 4, termination favored by Board, advice to Mr. L'Heureux 3/3 Bank for International Settlements: Activities, reply to letter from Governor Frere, advice to FRBank of New York re 8/ 1 d'Italia, Rome, no Banca objection to loan by FRBank of lo/28 New York, reply approved by Board Banca d'Italia, Rome, credit by, reply of FRBank of New York, expressing no objection approved 12/19 by Board Loan to Central Bank of Turkey, reply of FRBank of New York expressing no objection approved 9/29 by Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1531 1248 207 1219 427 258 663 1466 'Soo 251 783 321 1130 1490 1816 1338 8 Pages Bank for International Settlements: (Continued) Loan to Central Bank of Turkey and future loans, policy re, to be placed on agenda at next meeting of N. A. C. and paper re to be prepared by Staff Committee, letter 10/ 3 of Chairman Eccles to Mr. Glasser Bank supervisory authorities: Commodity loans, handling by commercial banks, discussed 2/28 at meeting with Presidents Banking: Labor legislation, discussion of including, with representatives of FDIC, Comptroller of the 4/16 Currency and Treasury Banking conditions: Periodic reports on, discussion at Presidents Conference 2/28 of material to be used and purpose of position Board's of Reports on, Presidents to be advised 2/27 at joint meeting Banking quarters: Charlotte Branch, no objection to completion of aircon4/30 ditioning Cincinnati Branch, purchase of Chamber of Commerce building to be discussed with Messrs. 5/13 Brainard and Gidney No objection to purchase of Chamber of Commerce Building, provided legislation authorizing purchase enacted by Congressr advice to 5/15 Mr. Gidney Need for space, mentioned in letter to Chairman 5/29 Wolcott Purchase of Chamber of Commerce Building, acknowledg8/14 ment of letter re plans for Charge-offs on premises aid depreciation allowance 12/29 on machinery and equipment authorized Commerce Guardian Bank, Toledo, Ohio, additional invest1/27 ment for opening of branch approved subDetroit Branch, preliminary plans for building to be 10/13 mitted for consideration of Board conair to El Paso Branch, no objection to expenditure 1/31 dition outside space leased alterawith proceed to FRBank of Atlanta, authorization tions to close in light well and pro1/27 vide additional space modernfor project to FRBank of Boston, no objection 3/1)4 ization of lightingarrangements ceiling acoustical of installation objection to No 5/19 in portion of third floor no system, elevator of modernization Chicago, FRBank of objection to expenditure for work at time when building conditions are improved 2/20 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1370 292 588 304 269 664 714 734 816 1181 1839 132 1427 154 122 410 744 233 9 Pages Banking quarters: (Continued) FRBank of Chicago: (Continued) No objection to expenditure for enlarging concourse on QUincy street and remodeling certain 7/14 space in Bank No objection to charges in program for nversion of electric power to alternating current and for modernization of elevator sys9/17 tem FRBank of Cleveland, no objection to construction of 1/27 additional vault No objection to project for modernization of lighting 3/14 No objection to program for modernization of lighting 9/23 FRBank of Philadelphia., no objection to proposed altera2/11 tions and additions FRBank of Richmond, no objection to purchase of property 1/ 8 FRBank of St. Louis, no objection to alterations and additions to fourth floor, including installation of airconditioning 3/ 5 Disposition of expenditures in connection with rehabilitation of adjacent property approved, instructions re 3/14 No objection to expenditure for installation and purchase of compressor and accessories for 8/27 air conditioning of Nugent Building No objection to expenditures for replacement of light fixtures in Collection-Transfer Depart11/ 3 ment 12/29 Charge-off on Nugent property authorized FRBanks and Branches: Construction projects, no objection to necessary alterations involving expenditure around 1/27 $100,000, statement of Chairman Eccles Letter to be prepared on future program and on devel3/28 oping plans for buildings FRBranch buildings, bill to repeal limitation on cost, draft with recommendation for enactment sent to Chairmen of Sente and House 1/10 Banking and Currency Committees Removal of limitation on cost, legislation re, FAC to 3/11 consider matter farther Removal of limitation on cost, letter to Congressman 3/25 J. Hardin Peterson of proChairman elimination of from Wolcott Advice vision on limitation of cost and new 3/28 bill not to be introduced now S. 1225, Sparkman bill to remove limitation on expenditures, report to be deferred until discussion by Chairman Eccles with Mr. Wolcott 5/13 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1055 1280 122 411 1320 203 25 336 404 1218 1518 1840 123 482 41 390 465 481 710 10 Pages Banking quarters: (Continued) FRBranch buildings: (Continued) General letter re urgent needs not to be sent at present, but Mr. Smead to obtain additional information 5/13 Legislation re, Chairman Eccles to talk with Mr. Wolcott to obtain views before further 5/13 action Repeal of limitation in FRAct on expenditure, letter to Chairman Wolcott recommending repeal or authorization for expenditures for urgent cases up to $10,000,000, copy 5/29 sent to Senator Tobey Bill for additional authority for construction of buildings, preferred by Chairman Wolcott to bill for repeal of existing limitation, statement of Chairman Eccles 6/ 4 Repeal of limitation on cost, or authorization for expenditures for urgent cases up to $10,000,000, drafts of bills sent to Chairman Wolcott of House Banking and 6/ 5 Currency Committee Legislation re, review of present status by Chairman 6/ 6 Eccles at Presidents Conference Legislation to remove limitation on cost of buildings, letter to President re importance of 6/10 action at present session of Congress Legislation to remove limitation re, report by Chair6/17 man Eccles on status Legislation, letter to Chairman Wolcott re labor and 6/12 material needed for construction Bill to permit expenditures up to $10,000,000 passed by Senate, advice to Mr. Gidney re status of 7/14 S. 1519, to permit expenditures for buildings up to $10,000,000, Board in favor of, report 7/25 to Bureau of the Budget Bill to authorize expenditures up to $10,000,000 signed by President, FRBanks requested to send 8/ 8 information re urgent needs of, statement Cost to be published in August issue af 8/11 FRBulletin Construction, statement of standards to be prepared, discussed in connection with plans for Portland, Los Angeles, and Jacksonville 10/21 Branches Preliminary plans and estimates, information to be 12/ 5 submitted Federal Trust Company, Newark, New Jerscy, additional investment of $21,000 to acquire land 12/ 3 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 714 714 81h 840 852 893 898 932 905 1055 1102 1160 1165 1460 1713 1683 11 Pages Banking quarters: (Continued) Fidelity Bank, Durham, North Carolina, additional investment approved 4/18 First Trust & Savings Bank of Kankakee, Illinois, additional expenditure for remodeling banking premises approved11/14 Houston Branch, no objection to expenditure to air condition annex 1/31 Industrial Trust Company, Providence, Rhode Island, additional investment for Elmwood, Wickford, and Apponaug Branches approved 4/24 Additional investment to complete building for Elmwood Branch approved 10/24 Additional investment approved for building in Pawtucket, R. I., and for consolidation of two branches there Additional investment for improvements at East Providence branch approved 12/30 Jacksonville Branch, discussion of proposed new building and vault construction, statement of Chairman Eccles re 10/21 Jasper County Savings Bank, Newton, Iowa, expenditure for remodeling premises approved 2/ 5 Little Rock Branch, no objection to improvement of basement 1/ 8 No objection to purchase and installation of auxiliary electric power equipment 12/ 9 Los Angeles Branch, need for space, mentioned in letter 5/29 to Chairman Wolcott Construction of building, final plans and bids to be submitted to Board 1016 Plans and specifications to be submitted to Board before asking for bids, Mr. Earhart to be advised 10/21 Construction of building, plans to be submitted to Board before request for bids, information re vault construction to be 10/27 obtained from Federal Works Agency Manufacturers Bank & Trust Company, St. Louis, Mo., no objection to expenditures for remodeling banking house and purchasing park1/21 ing lot Memphis Branch, no objection to expenditures for replac11/ 3 ing light fixtures Miami Deposit Bank, Yellow Springs, Ohio, additional ex1/10 penditure in bank premises approved National Savings and Trust Company, Washington, D. C., increase in investment in bank premises approved 4/11 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 607 1555 154 631 1479 1 1460 176 25 1728 815 1437 1460 1486 914 1518 314 566 12 Pages Banking quarters: (Continued) New Orleans Branch, no objection to plans for use of adjoining lot for loading and unloading purposes 4/ 2 Improvements, no objection to completion 6/30 Peoples Trust Company of Bergen County, Hackensack, New Jersey, expenditure for acquisition of stock of Westwood Investment Company, affiliate holding title to banking premises occupied by Westwood branch, approved 5/14 Portland Branch, need for space, discussion of 5/13 Need for space, mentioned in letter to Chairman 5/29 Wolcott Construction of building, final plans and bids to be submitted to Board 10/16 Plans and specifications for building to be submitted to Board before asking for bids, Mr. 10/21 Earhart to be advised Information re vault construction to be obtained from 10/27 Federal Works Agency Provident Trust Company of Philadelphia, Penna, expenditure for addition to main office ap5/ 6 proved San Antonio Branch, no objection to expenditure for air conditioning building and outside 1/31 space leased Seattle Branch, need for space, discussion of 5/13 Need for space, mentioned in letter to Chairman 5/29 Wolcott Design of building, no objection by Board if selected by directors, Mr. Earhart to be advised 10/31 State Bank of Albany, New York, additional investment for building for new branch in Village of Menands, Town of Colonie, New York, ap9/ 2 proved State member banks, authority of Presidents of FRBanks to approve proposed investments submitted under conditions of membership 2/11 by, broadened, advice to FRBanks Texas Bank & Trust Company of Dallas, Texas, application for membership approved, proposed expenditure for banking quarters approved, additional powers not to be ex11/ 7 ercised without permission of Board Barit, A. E., Regulation W, amendment suggested to liberalize maturity requirement f or automobiles, re4/25 ply to Reply to letter stating objections concerning low 5/28 income people http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 504 996 725 709 814 1437 1460 1486 686 154 710 815 1503 1244 201 1534 639 807 13 Pages Barker, Willard G., loan to employee to purchase stock of Sears, Roebuck and Co., applicability of Regulation U) reply to h/18 Beaty, John Y., Editor, Bankers Monthly, membership in FRSystem, information re reasons for and advantages sent to 2/20 Beckworth, Honorable Lindley, reimbursement by FRBank for transportation charges on direct sent items, comments on statement by Mr. Faires re 12/15 Blizzard conditions in Chicago District, penalties for deficiencies in reserves waived because of 2/ 4 Board of Governors: Administration: Chauffeurs, separation from guard force and opening of West Gate, not approved 1/14 Woman receptionist in oval, suggestion not approved 1/14 Annual report for 1917, designation of reserve cities, statement -liscussed at Presidents Conference 10/ 7 Annual report for 1946: Policy record of Board, draft of entries covering 1946 approved for publication in, references to views of menbers of Board not present and not voting on actions to be deleted 2/21 Change suggested by Chairman Eccles to include section for FOMC and discussions of monetary policies instead of inclusion in annual report of FRBank of New York, memo to be presented to Board for study and discussion 4/ 8 Distribution, one copy to be sent to any bank requesting it, no change in list for members of Congress and others 14/ 8 Change to include section for FOMC and discussions of national policies, memo of Chairman Eccles approved, further conference to be held with Mr. Sproul 4/35 Authority re issuance by FRBanks or by FOMC of reports that discuss national policy questions, Mr. Vest to submit opinion on 4/15 Distribution, copy to be furnished to any bank requesting it, change in procedure re )4/16 Policy Record, FOMC, approved for inclusion in 4/25 Capitalrequirements of member banks) legislation to remove discrimination againstI mcommendation to be included in 6/ 6 Revised draft to include statement re capital requirements for State banks approved with usual distribution procedure to be followed 6/17 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 608 231 1767 175 52 52 1378 237 529 535 579 580 589 646 882 931 14 Pages Board of Governors: (Continued) Annual reports: Outside business and teaching activities of employees of staff in Group M and above, procedure and form approved 11/24 Assignment of subjects for initial consideration 3/20 Assignment of subjects for primary consideration, Personnel Committee, salary classification plans of FRBanks because of illness of Mr. Vardaman, after completion of plans to revert to Mr. Vardaman 5/23 Assignment of subjects for primary consideration and of alternates approved 6/20 Automobiles: Plymouth station wagon and sale or trade-in of old station wagon, referred to Mr. Draper 2/25 Use of, revised regulations to effect reduction in expenses, copies to be sent to Board members aid senior staff 3/20 Budget: Division of Administrative Services, increased to cover cost of printing additional copies of revised edition of FRAct 1/14 Increased to cover cost of printing 5,000 additional copies of Banking Studies 1/23 Increased to cover cost of New Plymouth station wagon 2/25 Increased to cover purchase of liability insurance for employees driving personal cars in course of employment 3/17 Increased to cover cost of luncheon for American Agricultural Editors Association 5/ 6 Increased to cover expenses of publication of Federal Reserve Charts 3/24 Increase to cover printing and distribution of booklet on "Federal Reserve System-Its 6/24 Purposes and Functions" Unexpended balance for operation of IBM equipment to be transferred from Division of Research and Statistics to 7/15 Expenses of cafeteria for telephone service, electric light and power, ard steam to be included in 1948 10/31 Division of Bank Operations: Addition of $300 to item of Stationery and Supplies in 1947 budget approved Amount added to item of Printing and Binding and to item of Telephone and Telegraph in 1947 non-personal budget 11/14 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1632 433 787 955 258 427 59 103 258 417 684 454 978 1057 1515 1430 1556 15 Pages Board of Governors: (Continued) Budget: (Continued) Division of Bank Operations: (Continued) Addition of $200 to item of Printing and Binding for 1947 approved 10/24 Division of Personnel Administration, sum of $300 to be added to miscellaneous account to take care of payments for Reserve Board Club librarian for 1947 10/ 6 Addition of $200 to Personal Services item for 1947 approved 10/15 Division of Research and Statistics, Mr. Lutz's name to be included in L;roup of consultants for 1947 3/ 6 Increased to cover cost ofcontinued lease for IBM equipment 4/28 Increasedto cover claim submitted by Mr. Metzler in connection with checking of paper on "Exchange Rates and the International Monetary Fund" 6/ 4 To be increased to cover expenditures in connection with survey of finances and spending intentions of individuals by University of Michigan 7/ 2 Costs of publication and distribution of "Debits and .Clearings Statistics, Their Background and Interpretation", by George Garvey, FRBank of New iork, to be absorbed in 1947 7/ 2 Amount added to item of Stationery and Supplies in 1947 non-personal budget 11/20 Division of Security Loans, amount added to item of miscellaneous expenses in 1947 budget 11/26 Secretary's Office, $300 to be added to item of Stationery and Supplies in 1947 non-personal budget 8/28 Addition of $300 to item of Printing and Binding for 1947 approved 10/15 To be increased to cover cost of dinner for National Association of Supervisors of State Banks at Idayflower Hotel 6/20 Item to be increased to cover cost of entertainment (golf and dinner) for Presidents and other guests at Burning Tree Country Club 9/26 For 1948, approved, purchases of furniture and equipment to be given special consideration and personnel ceiling of 169 persons for Division of Research and Statistics approved as "ideal" 12/15 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1484 4 4 13 32 338 652 846 1002 1019 160)4 1674 1229 1434 952 1330 1749 16 Pages Board of Governors: (Continued) Building: Insurance, fire, to be discontinued 11/ 7 Cafeteria: Supervisor or Assistant Supervisor aathorized to use $50 of petty cash fund for purchases of food from farmers' market, etc. 6/26 Counsel's Office: Federal statutes, bills to repeal obsolete provisions, study to be made and advice to be sent to Senator Wiley 4/30 Destruction of records, list approved 1/15 Division of Bank Operations, todiscuss budgetary procedure of FRBanks with Presidents Conference Committee on Expense Accounting 4/15 Division of Research and Statistics: Forecast of work for next five years, statement by Mr. Evans on 3/ 7 IBM equipment, continued lease for 8 months approved 4/28 Projects contemplated by, discussion of 12/15 Expenses: Assessment on FRBanks for last half of 1947 6/20 Assessment of FRBanks for first half of 1948 12/15 Reduction of, amenlments to travel regulations, use of Board's automobiles, messenger service, etc., approved in connection with 3/20 Franking privilege, regulations to effect reduction in expensesl copies to besentto Board mem3/20 bers and senior staff Information: Leaks re matters under discussion between Treasury and Board or Favc, statement to staff oncon7/ 2 fidentiality of business of Board Insurance, liability for employees driving personal cars in course of enployment, purchase approved 3/17 Leased wire system: Board - FRBank of New York via Philadelphia, no change to be made at present, discussion of 5/13 memo from Mr. Bethea Intercity leased line telephone network to serve activities of Federal Government, Board not interested in proposed service at 6/2 present, advice to Treasury Department Meetint,s, executive session 11/ 4 Members: Alturnates, assignment approved 6/2o Attendance at convention of American Bankers Associa6/2o tion http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1537 987 664 66 583 343 652 1752 965 1751 425 427 1013 417 717 834 1519 955 954 17 Pages Board of Governors: (Continued) Members: (Continued) Clayton, Lawrence: Absorption of exchange charges by insured nonmember banks, to confer with Mr. Wiggins after preparation of memo 7/11 Appointment as member of Personnel Committee for 2/25 1947 Appointment as member of Personnel Committee for 3/20 1947 Assignment of subjects for initial consideration 3/20 Assignment of subject for primary consideration 6/20 Assumption of duties under appointment to fill vacancy in term ending January 31, 1952 2/14 Bank credit policies during inflation, joint statement to be revised and discussed with Treasury before review with executive committee of National Association of Supervisors of State Banks 11/17 Banking, inclusion in labor legislation, meetings re, to continue discussions with FDIC, Comptroller and Treasury to seek inclusion in Hartley bill 4/16 Designation of reserve cities, statement to be 12/17 prepared re standard to be adopted Holding company affiliates, information rel general question to be considered by 6/23 Mr. Hanl and Oklahoma Bankers Association, to attend 50th anniversary celebration in Tulsa 4/15 Policy questions on holding company affiliates to be discussed with Mr. Hanl 7/ 9 Premiums on Government bonds, pressure by national bank examiners on banks to write off, effect on sale of bonds in market, 12/19 recommendation to be made by Regulation D, amendments to, memo re 7/11 Reserve city designation suit threatened by Mr. Stoddard, matter referred to Mr. 6/20 Szymczak and Memo prepared by Mr. Szymczak and, question 7/ 2 to be studied further by 7/11 Alternative bases presented in memo Matter of new formula referred to for recom10/17 mendation at next meeting To conduct hearing re 11/21 Second alternate for Board members on executive 3/20 committee of FOMC To go to Dallas to discuss personnel situation 4/15 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10h9 250 437 435 958 209 1560 588 1778 969 574 1034 1804 10146 961 1004 10h5 1441 1610 436 573 18 Pages Board of Governors: (Continued) Members: (Continued) Clayton, Lawrence: (Continued) To make arrangements for dinner for National Association of Supervisors of 6/20 State Banks Conduct and statements when visiting FRBanks, discussion of, objections to Board policies to be voiced at Board meetings but not on outside 3/20 Draper, E. G.: Assignment of subjects for initial consideration 3/20 Assignment of subjects for primary consideration 6/20 Career system tofill senior positions, question as to what extent used at present 10/21 Elected Chairman pro tern during absence of Chairman Eccles until return of Mr. Szymczak from Europe 4/16 FRAct, section 13, proposed amendment, memo and letter to Presidents stating reasons for approving to be prepared by 3/ 7 Margin requirements, reduction, memo re 1/14 Member of executive committee of FOMC 3/20 Memorandum on separation of chauffeurs from guard force and on employment of woman receptionist 1/14 Purchase of Plymouth station wagon and sale or trade-in of old station wagon, referred 2/25 to Reserves, special plan for three-year period to control expansion of bank credit, statement re vote in favor of 11/ 5 Eccles, M. S.: 3/20 Assignment of subjects for initial consideration 6/20 Assignment of subjects for primary consideration Chairman of executive comnittee of FOMC, appoint3/20 ment approved Check collection service, statement to be made at 10/ 3 Presidents Conference approved Credit controls, to appear before Joint Committee on Economic Report and Banking and Currency Committees of Congress at hear11/18 ings re 11/18 Reply to statement of FAC Discount rate at FRBanks, increase to 1-1/4 12/ 5 suggested Executive committee of State Bank Supervisors, 4/11 to speak before Inflation, authorization to make statement re bill proposed in House and position of Board 12/15 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 953 437 434 956 1465 591 347 54 436 53 258 1525 433 955 436 1365 1572 1574 1689 553 1762 19 Pages Board of Governors: (Continued) Members: (Continued) Eccles, M. S.: (Continued) International Monetary Fund and International Bank for Reconstruction and Development, invitation to attend annual conference of Governors in London, Mr. Knapp to attend in place of Labor bill (Taft-Hartley), statement in favor of sending letter to White House re Margin requirements, reduction to 75%, statement released to press Not present at Board meeting becau3e of work on statement to be presented before Joint Committee on Economic Report Report on meeting at White House and discussion of legislation to make authority of Board permanent Retirement system, retention of services of employee until age 70 andcompensation arrangement suggested by Retirement system investment policies, changes proposed by, memo to be prepared for discussion at Presidents Conference Special reserve plan, memo re discussed Statement before Joint Committee on Economic Report re means of correction for monetary and credit situation during inflation, approved, copies to be sent to all banks in U. S. and to supervisors of banks in all States To attend meeting at Treasury to get agreement on progrim re Treasury bills To be absent from April 18 to approximately May 10 To present letters to Messrs. Tobey and Wolcott on repeal of Sec. 13h of FRAct when he visits them To present letters to Messrs. Tobey and Wolcott on amendments to FRAct when he visits them To talk with Mr. Stettinius on appointment as Class C director at Richmond and designation as Chairman Evans, H. M.: Appointment as member of Personnel Committee for 1947 Appointment as member of Personnel Committee for 1947 Assignment or subjects for initial consideration Assignment of subjects for primary consideration http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/20 959 6/17 927 1/17 77 11/21 1605 4/11 549 4 1520 12/ 5 12/17 1559 11/26 1643 4/11 559 4/16 591 1/10 39 1/10 40 5/13 716 2/25 250 11/ 1697 3/20 437 3/20 434 6/20 957 20 Pages Board of Governors: (Continued) Members: (Continued) Evans, R. M.: (Continued) Authorized to visit South American countries in connection with agricultural problems and to call at central banks to strengthen 7/22 Board's association with authorities Third alternate for Board members on executive 3/20 committee of FOMC To make arrangements for dinner for National Association of Supervisors of State Banks 6/20 List of rending material received by Secretary's Office to be sent to each member and material then to be sent upon request, procedure suggested by Chairman Eccles approved 7/11 Ransom, Ronald: Assignment of subjects for initial consideration 3/20 Assignment of Jubjects for primary consideration 6/20 Death of, telegram to Mr. Neely re 12/.3 First alternate for Board members on executive committee of MAC in absence of Mr. Eccles and third in absence of Messrs. 3/20 Szymczak and Clayton, upon return Szymczak, M. S.: Assignment of subjects for primary consideration 6/20 Elected Chairman pro tem fromd ate of return to date of Chairman Eccles' return from the West 4/16 Elected to serve as Chairman pro tempore in absence of Chairman Eccles during Mr. 6/20 Ransom's absence because of illness First alternate for Board members on executive 3/20 committee of FOMC Regulation D, amendments to, memo re 7/11 Reserve city designation suit threatened by Mr. Stoddard, matter referred to Mr. Clayton 6/20 and Memo prepared by Mr. Clayton and, question to be 7/ 2 studied further by 7/11 Alternative bases presented in memo Matter of new formula referred to for recommen10/17dation at next meeting 11/21 To conduct hearing re Statement to be prepared re standard to be 12/17 adopted Retention of FRBank officers or employees after age 65, no change in present policy, 12/ 5 memo Retirement system, formulation and approval of investment policies, to study problem further and Board to consider matter again 7/18 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1087 436 953 1044 433 955 1681 436 956 591 959 436 1045 19 0601 4 1045 1441 1610 1778 1692 1073 21 Pages Board of Governors: (Continued) Members: (Continued) Szymczak, M. S.: (Continued) Retirement system: (Continued) Memo re annual reports to Board, Board's representative, and investment policies, further consideration to be given to 10/31 1494 Retirement system investment policies, memo recom mending no changes to be made, discussion of 12/ 5 1696 Special reserve plan, questions re discussed 11/17 1557 To serve as Acting Vice Chair man pending return to duty of Mr. Ransom, assignment of subjects for initial consideration 3/20 434 Trustee of Retirement System, feeling of Mr. Eccle s that he should serve another year 12/ 5 1699 Travel outside of the U. S., trips to be approved by Board, statement of Mr. Eccles in connection with proposed trip by Mr. Evans to South America 7/22 1087 Vardaman, J. K.: Assignment of subjects for initial consideration 3/20 435 Assignment of subjects for consideration, salar y classification plans to be considered by Personnel Committee until new Plans are in effect and then to revert to Mr. Vardaman 5/23 787 Assignment of subjects for primary consideration 6/20 957 Attendance at meeting of ABA and National Association 3/12 395 of Supervisors of State Banks Cafeteria costs of FRBanks, question to be referred to 8/ 7 1145 Consumer credit, statement re continuation of Regulation W 12/19 1801 Designation of reserve cities, statement re proposed standard to be adopted 12/17 1775 Examination of reports of 28 insured banks, request of GAO to FDIC for permission, •-,eeting to be held with Comptroller of the Currency, Chairman of FDIC, Comptroller Generil, and Treasury representative to discuss 1/27 120 Holt, Thad, Director at Birmingham Branch, to be recorded as "not voting" for 3/28 478 Mangels, H. N., opinion that notice of election as First Vice President at San Francisco should state that appointment as President was not implied, disapproved 1/15 62 Member of executive committee of FOMC 3/20 1436 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 22 Pages Board of Governors: (Continued) Members: (Continued) Vardaman, J. K.: (Continued) Mergers or consolidations of State and national banks, legislation to equalize position in, attendance at meeting in New York re, no recommendation to be made by /14 / 14 Midwinter Trust Conference of AB A, attended by Policy record of Board, references on occasions when not present to be omitted 2/21 Recommendation for salary increase for Mr. Pondrom at FRBank of Dallas 6/ 4 Regulations T and U, amendments to supplements to reduce margin requirements to 75%, approved by 1/17 Tax advantages reconsolidation or merger of national bank and State bank, to advise ABA that Board would favor legislation that would also remove discrimination against member banks re capital requirements for banks operating branches 3/ 7 Travel expenses of FRBank officers and employees) question to be referred to 8/ 7 Unable to attend Board meeting 11/21 Minutes approved: December 19, 1946 1/20 December 20 1/20 December 26 1/20 December 27 1/20 December 30 1/20 December 31 1/20 January 2, 1947 1/20 January 3 1/20 January 7 1/20 January 8 1/20 January 10 1/20 January 13 1/20 January 14 1/20 January 15 1/20 January 16 1/20 January 17 1/20 January 20 1/21 January 21 1/22 January 22 1/23 January 23 1/24 January 24 1/27 January 27 1/28 January 28 1/29 January 29 2/ 3 January 30 2/ 3 January 31 2/ 3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 401 163 237 843 83 345 1143 1605 88 88 88 88 88 88 88 88 88 88 88 88 88 88 88 88 93 97 101 106 129 138 140 155 155 155 23 Pages Board of Governors: (Continued) Minutes approved: (Continued) February 3, 1947 February 4 February 6 February 7 February 10 February 11 February 12 February 13 February 14 February 17 February 18 February 19 February 20 February 21 February 24 February 25 February 26 February 27 February 28 (also Pres.) March 3 March 4 March 5 March 6 March 7 March 10 March 11 March 11 (FAC) March 12 March 13 March 14 March 17 March 18 March 19 'arch 20 March 21 March 24 March 25 March 27 March 28 March 31 April 1 April 2 April 3 April 4 April 7 April 8 April 9 April 10 April 11 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/10 2/10 2/10 2/10 2/11 2/12 2/14 2/14 2/17 191 191 191 191 200 204 209 209 2/18 2/19 2/20 2/21 2/24 2/25 216 219 224 226 243 245 259 2/26 2/27 2/28 262 270 317 3/3 3/14 320 3/5 326 330 3/6 3/7 3/10 3/11 3/12 3/12 3/13 3/14 3/17 3/18 3/19 3/20 3/21 3/24 3/25 3/27 3/28 3/31 338 350 357 392 395 395 397 409 413 419 422 438 442 449 461 467 487 492 14/1 494 14/2 498 14/3 505 518 522 536 538 542 563 570 14/14 14/7 14/8 14/9 4/10 4/11 4/1h 24 Pages Board of Governors: (Continued) Minutes approved: (Continued) April 14 April 15 April 16 April 17 April 18 April 21 April 22 April 23 April 24 April 25 April 28 April 29 April 30 May 1 May 2 May 5 May 6 May 8 May 9 May 12 May 13 May lit May 15 May 16 May 19 May 20 May 20 (FAC) May 21 May 22 May 23 May 26 May 27 May. 28 May 29 June 2 June 3 June 4 June 5 June 6 June 6 (Pres.) June 9 June 10 June 11 June 12 June 13 June 16 June 17 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4/15 4/16 4/17 4/18 4/23 4/23 4/23 4/24 4/28 4/28 4/30 4/30 5/1 5/2 5/ 5 5/8 5/8 5/.9 5/12 5/13 5/14 5/15 5/16 5/19 5/20 5/21 5/21 5/22 5/23 5/26 5/27 5/28 5/29 6/2 6/3 6/14 6/5 6/6 6/ 9 6/9 6/10 6/11 6/13 6/13 6/16 6/17 6/18 581 591 600 694 627 627 627 630 647 647 659 659 670 673 681 690 690 696 702 721 724 733 735 743 747 774 774 776 792 797 800 803 823 829 835 846 851 858 894 894 896 902 907 907 924 936 938 25 Pages Board of Governors: (Continue d) Minutes approved: (Continued) June 18 June 19 June 20 June 23 June 24 June 25 June 26 June 27 June 30 July 1 July 2 July 3 July 7 July 9 July 10 July 11 July 14 July 15 July 16 July 17 July 18 July 21 July 22 July 23 July 24 July 25 July 28 July 29 July 30 July 31 August 1 August 4 August 7 August 8 August 11 August 12 August 13 August 14 August 15 August 18 August 19 August 20 August 21 August 22 August 25 August 26 August 27 August 28 August 29 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/19 6/20 6/23 6/24 6/25 6/26 6/27 6/30 7/1 7/ 2 7/ 3 7/ 7 7/ 9 7/10 7/11 7/14 7/15 7/16 7/17 7/18 7/21 7/22 7/23 7/24 7/25 8/ 7 8/ 7 8/ 7 8/ 7 8/ 7 8/ 7 8/ 7 8/ 8 8/11 8/12 8/13 8/14 8/15 8/18 8/19 8/20 1024 1027 1036 1050 1054 1057 1060 1062 1075 1082 1090 1094 1098 1101 1151 1151 1)51 1151 1151 1151 1151 1152 1163 1167 1171 1178 1184 1191 1194 1205 8/21 8/25 8/25 1208 1212 1212 8/26 8/27 8/28 1215 1217 941 962 967 973 981 985 989 992 998 1014 1022 8/29 1220 1236 9/ 8 1254 26 Pages Board of Governors: (Continue d) Minutes approved: (Continued) September 2 September 4 September 5 September 8 September 9 September 10 September 11 September 12 September 16 September 17 September 18 September 19 September 22 September 23 (FAG) September 23 September 24 September 26 September 29 September 30 October 1 October 2 October 3 October 6 October 7 October 7 (Pres.) October 8 October 9 October 10 October 13 October 14 October 15 October 16 October 17 October 20 October 21 October 22 October 23 October 24 October 27 October 28 October 29 October 31 November 3 November 4 November 5 November 7 November 10 November 12 November 13 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9/ 8 9/ 8 9/ 8 9/ 9 9/10 9/16 9/16 9/16 9/17 9/18 9/22 9/22 9/23 9/24 9/24 9/26 9/29 9/j0 10/ 1 10/ 2 10/ 3 10/ 6 10/ 7 10/ 8 10/ 8 10/13 10/13 10/13 10/14 10/15 10/16 10/17 10/20 10/21 10/22 10/24 10/24 10/27 10/28 10/29 10/31 11/ 3 11/ h 11/ 5 11/ 7 11/10 11/12 11/13 11/14 1254 1254 1254 1261 1264 1275 1275 1275 1278 1281 1290 1290 1317 1321 1321 1332 1336 1348 1355 1359 1368 1372 1375 1405 1405 1426 1426 1426 1428 1432 1435 1450 1453 1467 1472 1477 1477 1485 1488 1491 1512 1517 1521 1527 1533 1540 1544 155o 1554 27 Pages Board of Governors: (Continued) Minutes approved: (Continued) November 14 November 17 November 18 November 18 (FAG) November 19 November 20 November 21 November 24 November 25 November 26 November 28 December 2 December 3 December 4 December 5 December 9 December 9 (Pres.) December 10 December 11 December 12 December 15 December 16 December 17 December 18 December 19 December 22 December 23 December 24 December 29 December 30 Policy record: Draft of entries covering 1946, approved for publication in annual report, references to views of members of Board not present and not voting on actions to be deleted Interest rate to be paid by FRBanks on ninotes, not covered by gold certificates, outstanding during first quarter of 1947 Members actually participating in actions, votes to be recorded, but references to views of absent members to be deleted Regulations T and U, amendment to supplements reducing margin requirements Positions, full-time with salary rates of $9975 or more, forms sent to Mr. Baruch, Civil Service Commission Proceedings before, reply to Senator Wiley that Administrative Practitioners Act is not necessary for http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11/17 11/18 11/19 11/19 11/20 11/21 11/24 11/25 11/26 1564 1592 1594 1594 1598 1628 1632 1638 1672 11/28 1675 12/ 2 1679 12/ 3 12/ 4 1681 12/ 5 1685 1704 12/ 9 12/10 1727 1730 12/10 12/11 12/12 12/15 12/16 12/17 1742 1762 1769 1784 12/18 1788 12/19 12/22 12/23 12/24 12/29 12/30 12/31 1812 1817 1820 1827 1836 1841 1844 2/21 237 4/23 618 2/21 237 1/17 76 10/10 1418 4/ 3 510 1730 1733 28a Pages Board of Governors: (Continued) Relationship to FRBanks compared with that of Bureau of the Budget, General Accounting Office, and Civil Service Commission to other departments and agencies of Government, statement of Chairman 9/23 Eccles re at FAC meeting Secretary's Office: List of reading material received to be sent to each Board member and material then to be sent upon request, procedure suggested by Chairman Eccles approved 7/11 Stock room, supplies, Division of Administrative Services authorized to purchase up to $15,000 worth 11/12 Supervisory and other responsibilities, statement approved with statement of responsi11/21 bilities of directors Transfer of employee to another office or division, to be approved in advance unless for brief period, salary to be charged to office or division where working 3/20 for any length of time Travel expenses, reduction in allowances for members 2/ 7 and staff to be considered Boz.;as, Hale, removal of limitation on cost of 3/25 MBranch buildings, letter sent to Bonds: Fidelity coverage, FRBanks requested to cooperate in pro11/10 gram of FDIC for State member banks Government: (See Government securities) Issue and redemption of savings, transfer from Branch banks to head offices, not desirable at present, Mr. Smead to discuss matter with Mr. Bartelt, topic to be placed on agenda for next meetings of Chair3/28 men's and Presidents' Conferences Kingdom of Norway, Ten Year 3-1/2 per cent Sinking Fund External Loan Bonds of, reply to in6/19 quiry from Mr. Arthur H. Dean Savings bond campaign, cooperation of FRSystem in support of, letter to Secretiry Snyder and in5/29 formation to FRBanks Savings bond program of Treasury, oost of printing booklet 11/26 for Treasury to be paid by Board Treasury 2-1/2 per cent, Investment Series A 1965, to be valued at par in examination reports, 9/17 advice to FRBanks Boston Stock Exchange: Listing of securities by corporations on, reply to letter from Mr. Besse re difficulties 7/ 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1310 1044 1549 1623 427 182 466 1541 949 828 1670 1279 1025 28b Pages Boston Stock Exchange: (Continue d) Stock Clearing Corporation, question of loans, applicability of Regulations T and U 6/ 2 Branch banks, domestic: American Trust Company, San Francisco, California: Mill Valley, California, establishment of branch subject to purchase of assets of Mill Valley Bank, Mill Valley, Calif., approved 5/12 Sacramento, California, establishment of branch at Alhambra Boulevard and Broadway Street approved 1/29 Granted extension of time to establish branch 7/ 2 Granted extension of time to establish branch at Alhambri Boulevard and Broadway Street 11/14 San Mateo County, Calif., establishment of branch at Geneva Avenue and Rio Verde Street approved 3/19 Temporary establishment of brunch approved in con. nection with Grand National Livestock Exposition 10/15 San Bruno, California, establishment of branch approved IV 4 Granted extension of time to establish branch 8/14 San Pablo, California, establishment of branch approved 4/25 Granted extension of time to establish branch 8/14 Sunnyvale, Calif., establishment of branch approved 6/16 Granted extension of time for establishment of branch 10/31 Walnut Creek, California, extension of time to establish branch approved 5/26 Bank of America N. T. & S. A., applications to establish, Mr. Leonard to prepare material for use of Mr. Wiggins in discussing matter with Comptroller 3/14 Conversion of banks acquired by Transamerica into branches, Chairman Eccles to ask Mr. Delano to defer action on applications until decision re investigation by Board 11/17 Capital requirements for member banks to establish, reply to Mr. Burmester, Union Bank of Commerce, Cleveland, Ohio 3/25 Reply to Congressman Sundstrom on legislation to eliminate discrimination 5/12 Banks that have withdrawn from menibership, conversions, etc., information in connection with proposed legislation on capital requirements of banks with branches 7/28 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 831 704 141 1016 1556 423 1433 519 1182 637 1182 925 1515 798 409 1561 464 708 1107 29 Pages Branch banks, domestic: (Continued) Capital requirements for member banks: (Continued) Presidents in favor of proposed bill to modify, but opposed to provision requiring approval of Board for establishment of intracity branches for State mem10/ 7 ber banks Discussion of memo of Legal Division re, questions to be discussed with Comptroller of the Currency and matter to be dm11/21 sidered in near future Letter to Comptroller of the Currency with draft 12/ 5 bill, views requested Commerce Guardian Bank, Toledo, Ohio, purchase of build1/27 ing for opening of branch approved Comronwealth Trust Company of Pittsburgh, Penn% establishment of branch at McKees Rocks, Penna., in connection with purchase of assets and assumption of deposits of Chartiers 3/1.0 Bank, McKees Rocks, Penna., approved County Trust Company, White Plains, New York, establishment of eight branches in Westchester County, New York, approved in connection with proposed absorption through merger of Washington Irving Trust Company, Port Chester, N. Y., and Bank of Westchester, Yonkers, N. Y. 7/ 9 Dollar Savings and Trust Company, Youngstown, Ohio, establishment of branch in Campbell, Ohio, approved subject to purchase of assets and assumption of deposits of City Trust 7/25 and Savings Bank, Youngstown, Ohio E3orse-Lincoln Park Bank, Ecorse, Michigan, establishment of branch in Ecorse, Michigan, coincidentally with removal of head office to 5/2o Lincoln Park approved Endicott Trust dompany, Endicott, New York, establishment of branch in Town of Vestal, New York, 1/10 approved Fidelity Bank, Durham, North Carolina, extension of time to establish branch on Roxboro Road in 5/19 Durham, County, N. C., approved Granted extension of time to establish branch 11/24 Fidelity Trust Company, Baltimore, Md., establishment of branch in Towson, Md., approved in connection with proposed merger of Bank of Baltimore County, Towson, Md. 11/28 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1385 1626 1709 132 359 1029 1101 747 33 743 1634 1677 30 Pages Branch banks, domestic: (Continued) Fifth Third Union Trust Company, Cincinnati, Ohio, establishment of branch in Reading, Ohio, approved subject to absorp9/30 tion of Reading Bank, Reading, Ohio First National Bank of Portland, conversion of banks acquired by Transamerica into branches, Chairman Eccles to ask Mr. Delano to defer action on applications until de11/17 cision re investigation by Board Harvard Trust Company, Cambridge, Mass., establishment of branch in Arlington, Mass., in connection with proposed absorption of Menotomy Trust Company, Arlington, ap2/26 proved Industrial Trust Company, Providence, Rhode Island, additional investment for Elmwood, Wickford, and Apponaug Branches approved b/24 Additional investment to complete building for Elm10/24 wood Branch approved Additional investment approved for building in Pawtucket, R. I., and for consolidation Additional investment for improvements at East Provi12/30 dence branch approved Intracity, proposed legislation to require approval by 11/21 Board for establishment of Legislation for establishment of branches of member banks, letter to Comptroller of the Currency 11/26 to be prepared Manufacturers and Traders Trust Company, Buffalo, New York, extension of time granted to establish branch at Eggertsville, New 5/ 8 York Nevada Bank of Commerce, Elko, Nevada, approval required for establishment of branch but not for removal of head office from Elko to Reno, advice to FRBank of San 9/26 Francisco Nevada Bank of Commerce, Reno, Nevada, establishment of branch in Elko, Nevada, approved in connection with removal of head office from Elko to Reno12/3 NorthevaNew York Trust Company, Watertown, New York, establishment of branch in Adams, New York, in connection with proposed merger with Citizens and Farmers Trust Company, Adams, New York, approved, further applications not to be made on basis involving reduction of invested capital, Marine Midland Corporation, holding company 3/20 affiliate, to be advised http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1349 1561 263 16;37:9 1626 1613 693 1335 1684 439 31 Pages Branch banks, domestic: (Continued) Northern New York Trust Company, Watertown, N. Y.: (Continued) Establishment of branch in Copenhagen, New York, approved in connection with proposed purchase of assets and assumption of liabilities of Copenhagen 10/ 8 National Bank Portland Trust and Savings Bank, Portland, Oregon, establishment of branch in Park Rose, 4/16 Multnomah County, Oregon, approved Granted extension of time to establish branch in 11/26 Park Rose, Oregon Provident Savings Bank and Trust Company, Cincinnati, Ohio, establishment of branch at Sharonville, Ohio, in connection with proposed absorption of Sharonville Bank, Sharonville, Ohio, approved 4/21 Security Trust Company of Rochester, New York, application for membership approved, subject to charge off of losses, retention and operation of branches at Fairport, Pittsford, and Dansville, New York, 11/20 approved Springfield Safe Deposit and Trust Company, Springfield, Mass., establishment of branch in East Longmeadow, Mass., approved 12/11 State Bank of Albany, New York, establishment of branch in Village of Menands, Tom of Colonie, 8/18 New York, approved Additional investment for building for new branch in Village of Menands, Town of Colonie, 9/ 2 New York, approved Wachovia Bank and Trust Company, Winston-Salem, N. C., establishment of two branches in State College area and Hayes Barton area, 1/22 FRSystem:Raleigh, N. C., approved Branch banks, Baltimore: Staff: Armstrong, Bernard F., Assistant Cashier, salary 8/22 approved Botorek, L. P., designation as special assistant 1/13 examiner Crowl, I. J., designation as special assistant examiner 1/13 Cupit, John R., Cashier, salary approved 5/16 Eckels, N. L., designation as special assistant 1/13 examiner http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 594 1674 613 1600 1739 1191 1244 98 1210 L06 46 736 46 32 Pages Branch banks, FRSystem: (Continued) Baltimore: (Continued) Staff: (Continued) Enos, D. it., designation as special assistant 1/13 examiner Gray, I. J., designation as special assistant 1/13 examiner Hagner, Donald F., Assistant Cashier, salary ap5/16 proved 8/22 Salary approved Johnston, John A., Assistant Cashier, salary 5/16 approved 8/22 Salary approved Jones, E. R., Jr., designation as special assistV13 ant examiner Milford, W. R., Vice President, salary approved 5/16 Orem, J. S., designation as special assistant 1/13 examiner Ritter, H. F., designation as special assistant 1/13 examiner Rodey, E.H., designation as special assistant 1/13 examiner Shipley, Eugene I., FRAgentis Representative, 6/16 salary approved FRAgentls Representative and Manager, Ac12/23 counting Dept., salary approved Sperry, C. S., designation as special assistant 1/13 examiner Spriggs, J. W., designation as special assist1/13 ant examiner Stewart, Alfred A., Jr., FRAgentls Representa4/11 tive, appointment and salary approved 6/16 Salary approved FRAgent's Representative and Manager, Fiscal 12/23 Agency Dept., salary approved Walter, W. E., designation as special assist1/13 ant examiner Whitaker, R. E., designation as special assist1/13 ant examiner Mienert, Adolph C., Assistant Cashier, salary ap5/16 proved Banking quarters, billto repeal limitation on cost, draft with recommendation for enactment sent to Chairmen of Senate and House Banking and Currency Committees Construction projects, no objection to necessary alterations involving expenditure around $100,000, statement of Chairman Eccles 1/27 Removal of limitation on cost, legislation re, FAC 3/11 to consider matter further http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 46 46 736 1210 736 1210 46 736 116 46 46 924 1822 146 46 565 924 1822 46 46 736 41 123. 390 33 Pages Branch banks, FRSystem: (Continued) Banking quarters: (Continued) Legislation to remove limitation, reply to letter 3/25 from Congressman J. Hardin Peterson Removal of limitation on cost, statement re elimina3/28 tion of provision from H. R. 2233 Letter to FRBanks tobe prepared requesting information re construction costs and stating that plans should be for practical needs without ornate or pretentious 3/28 buildings S. 1225, Sparkman bill to remove limitation on expenditures, report to be deferred until discussion by Chairman Eccles 5/13 with Mr. Wolcott General letter re needs not to be sent at present, but Mr. Smead to obtain additional 5/13 information Legislation re, Chairman Eccles to talk with Mr. Wolcott to obtain views before further 5/13 action Repeal of limitation in FRAct on expenditure, letter to Chairman Wolcott recommending repeal or authorization for expenditures for urgent cases up to $10,000,000, 5/29 copy sent to Senator Tobey Review of present status of legislation by Chairman 6/ 6 Eccles at Presidents Conference Bill for additional authority for construction of, preferred by Chairman Wolcott to bill for repeal of existing limitation, 6/ 4 statement of Chairman Eccles Repeal of limitation on cost of buildings or authorization for expenditures for urgent cases up to $10,000,000, drafts of bills sent to Chairman Wolcott of 6/ 5 House Banking and Currency Committee cost of on Amendment to FRAct to remove limitation buildings, letter to President re importance of action at present session 6/10 of Congress Letter to Chairman Wolcott re labor and material needed 6/12 for construction report by Chairre, limitation Legislation to remove 6/17 man Eccles on status Bill to permit expenditures up to $10,000,000 passed by Senate, advice to Mr. Gidney re 7/14 status of S. 1519, to permit expenditures up to $10,000,000, Board in favor of, report to Bureau of 7/25 the Budget http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 465 481 481 710 714 714 814 893 840 852 898 905 932 1055 1102 34 Pages Branch banks, FRSystem: (Continued) Banking quarters: (Continued) Bill to authorize expenditures up to $10,000,000 signed by President, FRBanks requested to send information re 8/ 8 urgent needs Cost of buildings, statement to be published in 8/11 August issue of FRBulletin Construction, statement of standards to be prepared, discussed in connection with plans for Portland, Los Angeles, and 10/21 Jacksonville Branches Preliminary plans and estimates, information to be 12/ 5 submitted Birmingham: Personnel classification plan, changes consisting of increases in maximum annual salaries 6/20 approved Staff: Beavers, P. L. T., Vice President, salary approved 5/16 5/16 Frazer, H. C., Assistant Manager, salary approved Starr, Leo W., Assistant Cashier, salary approved 5/16 5/15 Urquhart, H. J., Cashier, s alary approved Buffalo: Personnel classification plan, change consisting of increase in maximum annual salary for 6/13 Charwoman approved Changes consisting of abolition of Savings Bond 8/ 5 Redemption Division approved Salaries: Employees, minimum and maximum salaries approved for respective grades, in connection 9/18 with job cilssification plan Staff: Covert, Robert R., Chief, Accounting Division, continuation of temporary assignment 3/21 approved apsalary Cashier, Doll, George J., Assistant proved, to be effective also while serving as Acting Manager at Head 3/25 Office for six months conDivision, Cash Grote, Milford A., Chief, tinuation of temporary assignment 3/21 approved Mead, Kenneth P., Chief, Check Division, continuation of temporary assignment 3/21 approved Myers, M. Monroe, Assistant Cashier, salary ap3/25 proved Smith, Insley B., General Manager, salary ap3/25 proved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1160 1165 1460 1713 962 737 737 737 737 911 1137 1282 443 459 443 443 459 459 35 Pages Branch banks, FRSystem: (Continued) Buffalo: (Continued) Staff: (Continued) Snow, Halsey W., Cashier, salary approved 3/25 Charlotte: Banking quarters, no objection tocompletion of air 4/30 conditioning Staff: Amrhein, Elizabeth S., Currency Counter, Money 1/14 Dept., salary approved 1/14 Amrhein, Mary G., Junior Clerk-A, salary approved Bagby, T. Wesley, FRAgent's Representative, sal1/14 ary approved 14/3o examiner Designation as special assistant General FRAgent's Representative and Manager, 12/23 Service Dept., salary approved Barrett, Thomas R., Shipping Teller, Money Dept., . 1/11 salary approved 1/14 Belk, Bryson B., Junior Clerk-A, salary approved Cherry, Robert L., Vice President, salary ap5/16 proved Clark, Franklin S., designation as special assist4/30 ant examiner Drumheller, William B., designation as special 4/30 assistant examiner Gable, Charles L., Junior Clerk-A, salary ap1/14 proved Gilliam, Paul D., FRAgent's Representative, ap4/11 pointment and salary approved 4/30 Designation as special assistant examiner Manager, Noncash Collection Dept., Secur12/23 ities Custodian, salary approved Honeycutt, Robert L., Assistant Cashier, salary 5/16 approved Keller, Winfred W., designation as special assist4/30 ant examiner Krueger, Fred C., Jr., designation as special 4/30 assistant examiner 5/16 Ligon, Stanhope A., Cashier, salary approved Lowe, Charlie P., Teletype Operator, salary ap1/14 proved salary Cashier, Mondy, E. Clinton, Assistant 8/22 approved Fiscal Agency Morris, Charles E., Supervisor, 1/1)4 Dept., salary approved Operator, salary Telephone Mosbach, Mrs. M. W., 1/14 approved Otten, Harry J., Supervisor, Fiscal Agency Dept., 1/14 salary approved 4/30 Designation as special examiner http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 459 664 57 57 57 660 1822 57 57 737 660 660 57 565 660 1822 737 660 660 737 57 1211 57 57 57 660 36 Pages Branch banks, FaSystem: (Continued) Charlotte: (Continued) Staff: (Continued) Parker, John P., Manager, Fiscal Agency Dept., 1/14 salary approved Parks, Joseph G., designation as special assist4/30 ant examiner Robinson, Clarence H., Junior Clerk-A, salary 1/14 approved Smith, Raymond R., designation as special assist4/30 ant examiner Woody, Vivian L., Stenographer-A, salary approved 1/14 Yeager, Herman C., designation as special assistant examiner 4/30 Cincinnati: Banking quarters, purchase of Chamber of Commerce building to be discussed with Messrs. Brainard and Gidney 5/13 Purchase of Chamber of Commerce Building, no objection provided legislation althorizing purchase enacted by Congress, advice to Mr. Gidney 5/15 Need for space, mentioned in letter to Chairman 5/29 Wolcott Purchase of Chamber of Commerce Building, acknow8/14 ledgment of letter re plans for Charge-offs on prmises and depreciation allowance on machinery and equipment au12/29 thorized Salaries: Employees, minimum and maximum salaries approved for respective grades, in connection 9/ 8 with job classification plan Staff: Geers, Phil J., kssistant Cashier, salary approved 4/29 Harrell, Clyde, Assistant Cashier, salary approved 5/23 Hurst, G. W., analyst, continuation of assign1/30 ment approved Johnson, R. G., Assistant Cashier, salary approved 4/29 4/29 Lazar, B. J., Vice President, salary approved Marsh, W. H., analyst, continuation of assign1/30 ment approved Ostendorf, Harry H., FRAgent's Representative, 9/3o salary approved Ott, H. N., Cashier, salary approved 4/29 Denver: Staff: Duck, Hubert G., Assistant Cashier, salary ap1/2 proved 5/23 Salary approved 12/26 Salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 57 660 57 660 57 660 714 741 816 1182 1839 1254 657 794 147 657 657 147 1348 657 2 790 1831 37 Pages Branch banks, FRSystem: (Continued) Denver: (Continued) Staff: (Continued) Fisher, H. B., FRAgent's Representative, salary approved 1/9 1/2 Larson, F.H., Cashier, salary approved Salary approved 5/23 12/26 Salary approved Pipkin, G. H., Vice President, salary approved 5/23 Stempel, H. L., Assistant Cashier, salary ap1/2 proved 5/23 Salary approved 12/26 Salary approved Young, William R., FRAgent's Representative, salary approved 1/9 Detroit: Banking quarters, preliminary plans for building to be submitted for consideration of 10/13 Board Staff: Bloomfield, Richard W., Assistant Cashier, salary approved 4/ 4 Cameron, William T., Assistant Cashier, salary approved 4/ 4 Chalfont, Harlan J., Manager, salary approved 4/ 4 if fixed by Chicago board Salary increase approved after new recommen5/ 1 dation Diehl, Harold L., Cashier,salury approved 14/14 Haefele, Kenneth E., Assistant Counsel and Assistant Cashier, salary approved 4/ 4 To serve as local counsel with Mr. Hodge in 4/15 Detroit case if filed Harris, Ernest C., Vice President, salary approved if fixed by Chicago board 14/ 4 Salary increase approved after new recom5/ 1 mendation Jones, Everett D., FRAgent's Representative, sal12/ 3 ary approved Pettke, August J., FRAgent's Representative, sal12/ 3 ary approved Wiegandt, Arthur J., Assistant Cashier, salary approved h/ h Suit threatened by former employee under Fair Labor Standards Act 4/15 Federal laws, applicability to FRBanks, topic for discussion at Presidents Confer5/ 9 ence Banks excepted under National Labor Relations Act, discussion ut Presidents Con6/ 6 ference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 30 2 790 1831 790 - 2 790 1831 30 1427 516 516 517 670 516 516 579 517 668 1683 1683 516 575 700 879 38 Pages Branch banks, FRSystem: (Continued) Detroit: (Continued) Suit threatened by former employee: (Continued) FRBank of Chicago to proceed with case without defense that Act does not apply to FRBanks El Paso: Banking quarters, no objection toexpenditure to air condition outside space leased Staff: Barron, John H., Assistant Cashier, salary approved Berg, E. H., Cashier, salary approved Fraser, C. Hadley, FRAgent's Representative, salary approved Salary approved Designation as special assistant examiner Smyth, Mac C., Vice President, salary approved Salary approved Fiscal agency operations, question of transfer to head offices Issue and redemption of savings bonds, transfer to head offices, not desirable at present, Mr. Smead to discuss matter with Mr. Bartelt, topic to be placed on agenda for next meetings of Chairmen's and Presidents' Conferences No objection to Treasury sending- another letter to FRBanks asking for views, Board to consider matter further before final instructions from Treasury Functions, transfer to head offices, undesirable at present, Mr. Smead to discuss matter with Mr. Bartelt, topic to be placed on agenda for next meetings of Chairmen's and Presidents' Conferences Helena: Hospitalization, surgical benefits of Montana Physicians' Service to be available for, program approved Personnel classification plan, change consisting of establishment of position of General Clerk approved Staff: Larson, C.J., Assistant Cashier, salary approved Towle, H. E., Vice President, salary approved Houston: Banking quarters, no objection to expenditure to air condition annex http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/ 2 1005 6/ 4 6/ 4 844 844 1/ 2 6/30 7/28 2/24 3 993 6/ 4 1105 246 844 2/11 196 3/28 472 8 533 3/28 472 5/12 702 5/14 724 4/ 5/ 1 670 5/ 1 670 1/31 154 39 Pages Branch banks, FRSystem: (Continued) Houston: (Continued) Staff: Boyd, John A., FRAgent's Representative, salary 1/ 2 approved Holloway, W. H., Vice President, salary approved 2/24 Salary approved 6/ Troy, B.J., Assistant Cashier, salary approved 6/ 4 Vice President in charge of, salary of $12,000 favored by Mr. Vandapan for 6/ 4 Waller, W. D., Cashier, salary approved 2/24 Salary approved 6/ 4 Jacksonville: Banking quarters, discussion of proposed new building and vault construction, statement of Chairman Eccles 10/21 Personnel classification plan, changes consisting of increases in maximum annual salaries 6/20 approved Staff: Clark, T. C., Cashier, salary approved 5/16 Ford, C. Mason, Assistant Cashier, salary approved 5/16 Lanford, T. A., Vice President, salary approved 5/16 Snyder, J. W., Assistant Cashier, salary approved 5/16 Little Rock: Banking quarters, no objection to improvement of basement 1/ 8 No objection to purchase and installation of auxiliary electric power equipment 12/ 9 Hospitalization, change in membership of employees from blue Cross Association of St. Louis to Arkansas Health Plan approved 12/ 5 Staff: Bailey, A. F., Vice President, retirement, advice of, letter to Mr. Wood re resolution 4/30 Chillers, Clay, Assistant Manager, salary ap6/13 proved Links, John A., FRAgent's Representative, salary approved 4/16 Salary approved 12/23 Stewart, C. M., Vice President, salary approved 6/13 Wood, Clifford, Assistant Manager, salary approved 6/13 Los Angeles: Banking quarters, need for spice, mentioned in letter to Chairman Wolcott 5/29 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 246 844 844 843 246 844 1460 962 737 737 737 737 25 1726 1704 660 912 593 1823 912 912 815 40 Pages Branch banks, FRSystem: (Continued) Los Angeles: (Continued) Banking quarters: (Continued) Construction of building, final plans and bids 10/16 to be submitted to Board Plans and specifications to be submitted to Board before asking for bids, Mr. 10/21 Earhart to be advised Plans to be submitted to Board before request for bids, information re vault construction to be obtained from Federal 10/27 Works Agency Salaries: Employees, minimum and maximum salaries approved for respective grades, in connection 8/28 with job classification plan Staff: Ambrose, W. N., Vice President and Manager, sal4/11 ary approved Barglebaugh, E. R., Assistant Manager, salary approved 4/11 Bold, Fred C., Assistant Manager, salary approved 4/11 Jennings, A. F., designation as special assistant examiner McRitchie, M., Assistant manager, salary approved Meyer, L. C., Assistant Manager, salary approved Robinson, J. R., FRAgent's Representative, sal10/20 ary aoproved Vigus, V.E., redesignation as special assistant examiner approved upon return from 7/ 2 military leave approved 4/11 : : tkins, C. H., Assistant Manager, salary Louis Staff: 6/13 Burton, Fred, Assistant Manager, salary approved 6/13 Jenks, S. B., Assistant Manager, salary approved 6/13 Moore, L. S., Assistant manager, salary approved Parsell, G. H., 7RALent's Representative, salary approved 4/16 12/23 Salary approved 6/13 Schacht, C. A., Vice President, salary approved 14emPhis: Banking quarters, no objection to expenditures for 11/ 3 replacement of light fixtures Personnel classification plan, changes involved in consolidation of Fiscal Agency, Collection, and Safekeeping Departments into Collection - Fiscal Agency 6/19 Safekeeping Department approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1437 1460 1486 1227 555 555 555 1833 555 555 1454 1015 555 912 912 912 593 1823 912 1518 9113 41 Pages Branch banks, FhSystem: (Continued) Memphis: (Continued) Personnel classification plan: (Continued) Changes consisting of consolidation of Protection Department and the Plannin, and Utility, Mailing, Stenographic, Files, Purchasing and Stock Room, Telephone, Telegraph Department under General Service 7/23 Department approved Staff: Anderson, H. C., Assistant Aaanager, salary ap6/13 proved Belcher, S. K., Assistant Manager, salary ap6/13 proved Martin, C.E., Assistant Manager, salary approved 6/13 Pollard, W. B., Vice President, salary approved 6/13 Ritzel, Carl, FRAgent's Representative, salary 4/16. approved 12/23 Salary approved Tennant, L. E., Stock Clerk, in Ceneral Service Department, salary in excess of max10/23 imum approved Nashville: Personnel classification plan, changes consisting of increases in maximum annual salaries 6/20 approved Staff: Campbell, M. C., designation as special assist9/ 8 ant examiner approved Davis, 0. E., designation as special assistant 9/ 8 examiner approved Fort, Joel B., Jr., Vice President, salary ap5/16 proved 5/16 Harrison, E.R., Cashier, salary approved Moody, Robert E., Assistant Cashier, salary ap5/16 proved Newson, R. C., designation as special assistant 9/ 8 examiner approved New Orleans: Banking quarters, no objection to plans for use of adjoining lot for loading and unloading purposes 4/ 2 Improvements, no objection to completion 6/30 Personnel classification plan, changes consisting of increases in maximum annual sal6/20 aries approved Staff: Chapman, L. Y., Assistant Cashier, salary approved 5/16 Ducamus, D. J., Alt. FRAgent's Representative, 12/30 salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1095 912 912 912 912 593 1823 1475 962 1257 1257 738 738 738 1257 504 996 962 738 1841 42 Pages Branch banks, FRSystem: (Continued) New Orleans: (Continued) Staff: (Continued) McNamara, Bernard T., designation as special assistant examiner approved Paris, E. P., Vice President, salary approved Sewell, LH., Cashier, salary approved Shaw, M. L., Assistant idanager, salary approved Vasterlin6, F. C., Assistant Cashier, salary approved Oklahoma City: Staff: Alexander, Forest W., Cashier, salary approved Chase, David E., FRAgent's Representative, salary approved Cordill, O. P., Vice President, salary approved Cox, Lee G., FRAgent's Representative, salary approved Salary approved Davenport, L. B., Assistant Cashier, salary approved Payment to heirs for accumulated annual leave owed at time of death, study to be made of question at FRBanks before decision Fritz, F. R., Assistant Cashier, salary approved Salary approved Salary approved Mathes, R.L., Cashier, salary approved Salary approved Schmocker, Fred C., Assistant Cashier, salary approved Salary approved Salary approved Omaha: Staff: Berry, U. S., Assistant Cashier, salary approved Salary approved Salary approved Doran, William P., Assistant Cashier, salary approved Salary approved Salary approved Earhart, L. H., Vice President, salary approved Fairley, William F., FRAgent's Representative, salary approved Salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/ 2 5/16 5/16 5/16 1015 738 738 738 5/16 738 11/24 1633 1/ 9 5/23 30 790 1/ 9 6/30. 30 992 1/ 2 2 2/25 1/ 2 5/23 12/26 1/ 2 5/23 257 2 790 1832 2 790 3/18 5/23 12/26 420 790 1832 1/ 2 5/23 12/26 2 791 1832 1/2 5/23 12/26 5/23 2 791 1832 791 1/9 6/30 992 30 43 Pages Branch banks, FRSystem: (Continued) Omaha: (Continued) Staff: (Continued) Friedebach, J. K., Cashier, salary approved Salary approved Salary approved Streeter, Earl O., FRAgentls Representative, salary approved Pittsburgh: Reimbursement of member banks for postage and other transportation costs, reply to inquiry re report for week of August 18-23 Salaries: Employees, minimum and maximum salaries approved for respective grades, in connection with job classification plan Staff: Dougherty, Dale A., job analyst, continuation of assignment approved Salary approved Foster, A. G., Cashier,salary approved Harrell, Clyde, Assistant Vice President, salary approved Kossin, J. W., Vice President, salary approved Nolte, H., Assistant Cashier, salary approved Schmidt, J. A., Assistant Cashier, salary approved Steinbrink, R. J., Assistant Cashier, salary approved Trowbridge, Gordon, FRAgentls Representative, appointment and salary approved Salary approved Portland: Banking quarters, need for space, discussion of Need for space, mentioned in letter to Chairman Wolcott Construction of building, final plans and bids to be submitted to BaArd Plans and specifications to be submitted to Board before asking for bids, Mr. Earhart to be advised Construction of building, plans to be submitted to Board before request for bids, information re vault construction to be obtained from Federal Works Agency Salaries: Employees, minimum and maximum salaries approved for respective grades, in connection with job classification plan Staff: Bent, D. E., Assistant Manager, salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/2 5/23 12/26 2 791 1832 1/9 30 8/11 1165 9/ 8 1254 1/30 5/27 4/29 147 801 657 4/29 4/29 4/29 657 657 657 4/29 657 4/29 657 1/7 9/30 12 1348 5/13 709 5/29 814 10/16 1437 lo/21 1460 10/27 1486 8/28 1227 4/11 556 1414 Pages Branch banks, FRSystem: (Continued) Portland: (Continued) Staff: (Continued) Blanchard, J. P., Assistant Manager, salary ap14/la proved Salary approved 12/31 Davis, D. L., Vice President and Manager, salary approved h/13 Evans, G. L., designation as special assistant 12/26 examiner Farrell, J. E., designation as special assistant 12/26 examiner Gannett, G. 0.,designation as special assistant 12/26 examiner Looker, W. H., designation as special assistant 12/26 examiner MacEachron, S. A., Assistant Manager, salary ap4/11 proved Salt Lake City: Salaries: Employees, minimum and maximum salaries approved for respective grades, in connection 8/28 with job classification plan Staff: Barnard, 0. H., Assistant manager, salary approved 4/11 Salary approved 12/31 Everson, R. E., Assistant Manager, salary approved h/11 Grundvig, L. C., designation as special assist12/26 ant examiner Hallstrom, A. L., designation as special assist12/26 ant examiner Harwood, G. C., designation as special assist12/26 ant examiner Hemmino, H. E., Assistant Manager, salary approved 6/19 Salary approved 12/31 Larsen, L., FRAgent's Representative, salary ap10/20 proved Partner, W. L., Vice President and Manager, sal4/11 ary approved Scott, W. M., Assistant Manager, salary approved 4/11 San Antonio: Banking quarters, no objection to expenditure for air conditioning building and outside 1/31 space leased Staff: Davis, H. K., Cashier, salary approved 6/ 14 Eagle, W. E., Vice President, salary approved 2/24 Salary approved 6/ 14 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 556 18h6 556 1832 1832 1832 1832 556 1227 556 1846 556 1832 1832 1832 9h3 18h6 1454 556 556 154 8144 246 81414 45 Pages Branch banks, FRSystem: (Continued) San Antonio: (Continued) Staff: (Continued) Mundt, Alfred E., Assistant Cashier, salary approved 6/ 4 Rogers, Ralph, designation as special assistant examiner 7/28 Stover, G. W., FRAgentis Representative, salary approved 1/ 2 Seattle: Banking quarters, need for space, discussion of 5/13 Need for space, mentioned in letter to Chairman Wolcott 5/29 Design of building, no objection by Board if selected by directors, Mr. Earhart to be advised 10/31 Robberies, plans to rob messengers delivering money to and from, information from FBI, question to be discussed at Presidents Conference 2/19 Salaries: Employees, minimum and maximum salaries approved for respective grades, in connection with job classification plan 8/28 Staff: Morrill, R. H., Assistant Manager, salary approved 4/11 Russell, B. A., Assistant Manager, salary approved 4/11 Sham, C. R., Vice President and Manager, salary approved 4/11 Simms, D. E., Assistant Manager, salary approved 4/11 Transfer of activities to head offices of Reserve Banks, Treasury proposal in connection with redemption of savings bonds, discussion at Presidents Conference, no change to be made in services at present 6/ 6 Vice Presidents in charge of, discussion of importance and means for obtaining and holding right men or 4/ 4 Branch banks, foreigni: Bank of America N. T. and S. A.: Manila, Republic of Philippines, establishment of branch at, order issued before Commonwealth of Philippines became a republic, authority for 3/18 Shanghai, China, granted extension of time to establish 6/20 branch at Granted extension of time for establishment of 12/18 Tokyo, Japan, order authorizing establishment of branch 6/30 at http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 844 1105 3 710 815 1503 225 1227 556 556 556 556 868 514 420 964 1790 994 Branch banks, foreign: (Continued) Chase National Bank, New York: Berlin, Germany, order authorizing establishment of branch Frankfurt am Main, Germany, order authorizing establishment of branch Stuttgart, Germany, approved, order authorizing establishment of branch Tokyo, Japan, order authorizing establishment of branch First National Bank of Boston, orders authorizing establishment of branches at Sao Paulo and Santos, United States of Brazil International Banking Corporation, granted extension of time to establish branch at Paris, France National City Bank of New York: Cebu, Republic of the Philippines, approved, order authorizing establishment of branch Clark Field, Republic of the Philippines, order authorizing establishment of branch Manila, Republic of the Philippines, approved, order to establish additional branch Osaka, Japan, approved, order authorizing establishment of branch Porto Alegre, Brazil, granted extension of time to establish branch Budgets: Division of Administrative Services, increased to cover cost of printing additional copies of revised edition of FRAct Increased to cover cost of printing 5,000 additional copies of Banking Studies Increased to cover cost of new Plymouth station wagon Increased to cover purchase of liability insurance for employees of Board driving personal cars in course of employment Increased to cover expenses of publication of Federal Reserve Charts Increased to cover cost of luncheon for American Agricultural Editors Association Increased to cover printing and distribution of booklet on "Federal Reserve System Its Purposes and Functions" Unexpended balance for operation of IBM equipment to be transferred to Expenses of cafeteria for telephone service, electric light and power, and steam to be included in 19148 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 46 Pages l/7 523 10/21 1467 12/11 1736 6/30 993 5/8 691 7/ 2 1017 4/ 3 507 7/29 1110 5/ 9 697 8/ 8 1153 7/ 9 1030 1/14 59 1/23 103 2/25 258 3/17 417 3/24 454 5/6 684 6/24 978 7/15 1057 10/31 1515 47 Pages Budgets: (Continued) Division of Bank Operations, addition of $300 to item of Stationery and Supplies in 1947 budget approved Amount added to item of Printing and Binding and to item of Telephone and Telegraph in non-personal budget Division of Examinations: Addition of .200 to item of Printing and Binding approved Division of Personnel AdministrAtion, sum of $300 to be added to miscellaneous account to take care of payments for Reserve Board Club librarian . Addition of $200 to Personal Services item approved Division of Research and Statistics, Mr. Lutz's name to be included in group of consultants for 1947 Increased to cover cost of continued lease for IBM equipment Increased to cover claim submitted by Mr. Metzler in connection with checking of paper on "Exchange Rates and the International Monetary Fund" Increased to cover expenditures in connection with survey of finances and spending intentions of individuals by University of Michigan Costs of publication and distribution of "Debits and Clearings Statistics, Their Background and Interpretation", by George Garvey, FRBank of New York, to be absorbed in 1947 Amount added to item of Stationery and Supplies in 10/14 1430 11/14 1556 10/24 1484 10/ 6 10/15 1372 1434 6 338 4/26 652 6/ 4 846 7/ 2 1002 7/ 2 1019 3/ 1604 Division of Security Loans) amount added to item of mis11/26 cellaneous expenses in 1947 budget Secretary's Office, $300 to be added to item of Stationery 8/28 and Supplies in non-personal budget Addition of $300 to item of Printing and Binding 10/15 approved Board of Governors, to be increased to cover cost of dinner for National Association of Supervisors of State Banks at May6/20 flower Hotel Item to be increased to cover cost of entertainment (golf and dinner) for Presidents and other guests at Burning Tree Country 9/26 Club http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1674 1229 1434 952 1330 48 Pages Budget: (Continued) Board of Governors: (Continued) 1948, approved, purchases of furniture and equip— ment to be given special considera— tion and personnel ceiling of 169 persons for Division of Research 12/15 and StItistics approved as "ideal" FRBank of Atlanta: Bank Examination and Research and Statistical func— tions, reasons for exceeding approved budget requested 11/ 7 Examination Department, revised budget for last half of 1947 approved 11/21 Expenses in excess of estimate for last half of 1947, acknowledgment of letters 12/31 Research expenses, no action required as less than amount approved in original 1947 budget 12/12. FRBank of Boston: Bank Examination and Research and Statistical func— tions, reasons for exceeding approved budget requested 11/ 7 Bank Examination Department, revised budget for 1947 approved 11/21 Research and Statistical function, revised budget 12/12 for 1947 approved FRBank of Chicago: Bank Examination and Research and Statistical func— tions, reasons for exceeding approved budget requested 11/ 7 Expenses in excess of estimate for last half of 1947, acknowledgment of letter re 12/31 Research and Statistical function, revised budget 12/12 for 1947 approved FRBank of Dallas: Bank Examination and Research and Statistical func— tions, reasons for exceeding approved budget requested 11/ 7 Bank Examination Department, revised budget for 1947 approved 11/21 Cafeteria expense for 1947, percentage absorbed to be brought within 50%, information requested 11/ 5 Expenses in excess of estimate for last half of 1947, acknowledgment of letter 12/31 FRBank of Kansas City: Salaries, question of 5 per cent increase in 1948, information requested 11/14 FRBank of Minneapolis: Bank Examination and R - esearch and Statistical func— tions, reasons for exceeding approved budget requested 11/ 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1749 1539 1629 1849 1745 1539 1628 1745 1539 1850 1745 1539 1629 1532 1851 1554 1539 49 Pages Budget: (Continued) FRBank of Minneapolis: (Continued) Report for 1948, explanatory statement re material 11/ 3 differences requested Research expenses, no action required as less than amount approved in original 1947 12/12 budget FRBank of New York: Bank Examination and Research and Statistical functions, reasons for exceeding approved 11/ 7 budget requested Expenses in excess of estimate for last half of 1947, 12/31 acknowledgment of letter Research and Statistical function, revised budget 12/12 for 1947 approved FRBank of Richmond: Bank Examination and Research and Statistical functions, reasons for exceeding approved 11/ 7. budget requested Research and Statistical function, revised budget 12/12 for 1947 approved FRBank of St. Louis: Annual, reply to inquiry re procedure to be followed 8/29 for 1948 Bank Examination and Research and Statistical functions, reasons for exceeding approved 11/ 7 budget requested Expenses in excess of estimate for last half of 1947, 12/31 acknowledgment of letter Research and Statistical function, revised budget 12/12 for 1947 approved FRBank of San Francisco: Bank Examination and Research and Statistical functions, reasons for exceeding approved 11/ 7 budget reopested Expenses in excess of estimate for last half of 1947, 12/31 acknowledgment of letter re budget Research and Statistical function, revised 12/12 for 1947 approved FREanks: Annual, submission to Board to be resumed, on form 634a, instructions to FRBanks 2/ 4 Review by Board Member, and Divisions of Bank Operations and Examinations, dis2/ 4 cussion of be sent to copies Form FR 634a, instructions re, 4/10 to FRBanks Bank examination function approved for 1947 after discussion, subject of examination policy to be placed on agenda for next meetings of Chairmen's and Presidents' 3/28 Conferences http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1518 1745 1539 1848 1745 1539 1745 1242 1539 1850 1745 1539 1852 1745 164 166 546 14714 SO Pages Budgets: (Continued) FRBanks: (Continued) Luncheons, dinners, entertainment, etc., information re expenses to be included in 2/ 4 general budgets Procedure to be developed, discussion at Presidents Conference of expenditures and plans, Presidents Committee on Operations to 2/28 work with Board's staff Procedure, suggestions from Presidents to be turned over to Committee on Expense Accounting and Division of Bank Operations to discuss matter with Committee 4/15 Statistical and analytical for 1947 approved, additional information re research departments to be obtained before submission of 1948 budgets 3/ 7 Submission to Board to be not later than July 1, 1947 3/14. 1947, to cover last half of year only, advice to 5/ 5 FRBanks 1948 approved, additional information requested in some cases, date of submission changed 12/19 to October 1, advice to FRBanks Bureau of the Budget: All-bank statistical series, Board to join with Comptroller of the Currency and FDIC to arrange for compilation and publication of single, letter to Bureau 6/ 5 H. R. 2413, to amend FRAct and for other purposes, Board in favor of bill as passed by Congress, 4/24 advice to H. R. 2800, to amend section 5 of Home Owners' Loan Act of 1933, and for other purposes, re7/30 port recommending pocket veto sent to Joint Property Accountinc Staff, Mr. Bethea desicnated liaison officer to collaborate with, 9/18 advice to Robert Morris Project Schedule, extension approved, but to be discontinued after extension if reporting service by Federal Trade Commission and SEC is approved by Congress 3/14 S. J. Res. 148, to authorize temporary continuation of regulation of consumer credit, copy of statement for issuance by President 7/28 after signing sent to S. 1070, to provide for cancellation of capital stock of FDIC, etc., report in favor of President's signing sent to 7/30 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 168 296 583 343 405 682 1803 854 633 1116 1286 411 1106 1116 51 Pages Bureau of the Budget: (Continued) S. 1519, to amend section 10 of the FRAct and permit expenditures for FRBranch buildings up to $10,000,000, Board in favor of, report to S. 1720, to amend National Housing Act, no objection to approval of bill by President, advice to Solomon, Frederic, Assistant Counsel of Board, loan of services for one month to Loan of services extended for one week Tax reduction bill, H. R. 1, letter of disapproval sent to President, advice to Bureau of Engraving and Printing: FRnotes, printing requirements for 1948, order placed for ,14rgess, Randolph, monetary reforms in Philippines, letter re ,p.) OUrriS 5 T uames F., Jr., President, Association of Stock Exchange Firms, New York, Regulation T, margin requirements, reply to letter re 156, jSecond draft of reply to letter approved , tr-ton, C. F.: Regulation W I reply to suggestion for relaxation for veterans loans on automobiles Reserve requirements of member banks in reserve cities where there are no FRBanks or branches, reply to letter Cafeteria: Board of Governors: Expenses for telephone service, electric light and power, and steam to be charged to budget of Division of Administrative Services, beginning in 1948 Supervisor authorized to use Assistant Supervisor or $50 of petty cash fund for purchases or food from farmers' market, etc. FRB of Dallas, net expense to be brought within 50% authorized, advice to Mr. Cilbert Absorption of expense to be brought within 50%, information requested Absorption of more than 50 per cent of expenses, reduction to be made as of Jan. 1, 1948, and advice re plan to be used requested Absorption of more than 50%, deferment of adjustment in prices approved, advice re changes to be made requested FRB OP Kansas City, firm of experts employed to study operations and to submit report Reduction of expenses absorbed below 50 per cent limit, as of January 1, 1948, requested http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/25 1102 7/31 1124 2/18 3/24 219 449 6/9 895 6/19 4/11 950 560 2/10 3/28 192 477 3/11 393 3/13 399 10/31 1515 6/26 987 11/ 7 1539 11/ 5 1532 12/ 5 1711 12/29 1837 10/ 7 1393 12/10 1731 52 PaLes Cafeterias: (Continued) FRBank of Philadelphia, survey of banks and insurance 10/ 7 companies made re FRBanks, absorption of expenses, to be discussed at 2/ 4 Presidents Conference Statement of policy to be sent to FRBanks after decision on travel expenses for Board 3/14 and staff No change to be made in authorization at present, question of free meals and charges for meals for employees, including cafeteria employees, to be discussed at Presidents Conference, views of Mr. Sproul requested Reduction in authorization from 50 to 252, effective January 1, 1948, view of Board 16 23 to be stated at Presidents Conference: Reduction to 25% by 1948, discussion at Presidents 6 6, Conference Questions to be referred to Mr. Vardaman for study 8/ 7 and report to Board Discussion at Presidents Conference of reduction and of employment of experts to study question, Presidents not in favor of, subcommittee on Personnel Classification and Job Evaluation to submit report by next meeting of Presidents Confer10/ 7 ence Hennessy, John L., Hotels Statler Company, Inc., to be invited to luncheon to discuss cafeteria operations, Presidents to 9/22 be invited to attend Invited to luncheon to discuss problems, invitation sent to Presidents to join 9/24 Board members in informal discussion Canada: Stettner, W. F., services requested by Canadian Government, but not possible at present, advice 11/25 to Mr. T. C. Douglas Castro 3 for services Salvador Castaneda, El Salvador, request of Messrs. Musgrave and Grove in connection with fiscal reform program, not possible to grant 8/ 4 Central for Cooperatives, eligibility of notes for rediscount by FRBanks, question raised 3/28 17.511=7 Trust Company of New York Central States School o Attendance by officers and employees of FRBanks, draft of letter re to be revised and submitted 1/27 to Board for further consideration http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1391 169 406 79 7: 4 885 1145 1390 1289 1324 1639 1132 489 115 53 Pages Central States School of Banking: (Continued) Attendance by officers and employees: (Continued) Policy of Board re expenses and leave of absence, 2/ 3 advice to FRBanks Centre Motor Company, Regulation Inc., Norfolk, Va., reply to protest re credit for pur1/13 chase of used automobiles Ch aPPell, J. transcash to applicability J W., Regulation T, 2/ 4 actions with brokers, reply to letter Charge-offs: FRBank of Cleveland on Cincinnati Branch premises and depreciation on fixed machinery and equip12/29 ment FRE,ink of St. Louis on Nugent property 12/29 anks for 1947, authority to make 11/29 CharM Chartbook on consumer credit statistics, publication, 14/2)4. price, and distribution approved Chatham, Richard Thurman, Class C Director at FRBank of 2/ 7 Richmond, consideration for Chic ago Stock Exchange: Plan for improving markets on, consistent with Regula7/18 tion T Circulars, Board of Governors: Accrual of earnings, adoption of uniform basis, views of Presidents requested re plan 4/15 6/19 Procedure approved, advice to FRBanks All-bank statistical series, tabulation and publication of single series of assets and liabilities of all operating banks in U. S. by three Federal banking 3upervisory agencies to take place of, press 11/ 7 statement and advice to FRBanks Annual report, postal card with return reply to be sent to all banks to signify desire for copies 4/ 9 Appraisal guides, applicability to 1947 used automobiles, 4/25 no reference necessary at present Assistant examiners, exemption under Fair Labor Standards Act, question raised by vilank of Atlanta, advice requested from FRBanks 12/5 re procedure to be followed by Board Auditors' Conference, to be held in Washington on April lh-16, list of representatives re2/1h quested Audits, reports of FRBanks, procedure for submission to Board, advice to FRBanks 9/ 4 Bank credit policy during inflation, joint statement by Federal and State bank supervisory 11/24 agencies, issued, advice to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 159 50 173 1839 1840 1838 634 185 1079 58)4 948 1535 535 639 1706 213 12h8 1635 54 Pages Circulars, Board of Governors: (Continued) Bank credit policy during inflation: (Continued) Joint statement issued re, distribution to banks in district, advice re procedure Banking conditions in districts, quarterly report in summary form requested, advice to FRBanks Report, comments requested on certain points in next Banking quarters of State member banks, authority of Presidents of FRBanks to approve proposed investments submitted under conditions of membership broadened, advice to FRBanks Biographical data of directors and official personnel of FRBanks, current information to be to Board Budgets of FRBanks:sent Annual, submission to Board to be resumed, on form 634a, instructions to ERBanks To be submitted to Board not later than July 1, 1947, Presidents to be advised Submission of annual, form FR 634a, instructions re, copies to be sent to FRBanks To cover last half of year only, advice to ±qi.Banks Approved for 1948, additional information requested in some cases, date of submission changed to October 1, advice to FRBanks Buildint;s of FRBanks and branches, letter to be prepared on program and on developing plans not considered ornate or pretentious Cafeteria operations of FRBanks, Mr. nennessy to be invitedto luncheon to discuss problems, Presidents to be invited to attend Discussion of problems with Mr. Hennessy at luncheon to be on October 3, invitation to Presidents to join Board members at luncheon Capital requirements for establishment of branches by member banks and for admission of State banks to membership, legislation re to be submitted to Congress in 1948, drafts and transmittal letters sent to FRBanks for comments, information in support of recommendations requested http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11/25 1639 1/27 128 4/28 649 2/11 201 10/14 1429 2/ 4' 164 3/14 405 4/10 5/ 5 546 682 12/19 1803 3/28 482 9/22 1289 9/24 1324 7/28 1107 55 Pages Circulars, Board of Governors: (Continued) Check collection procedures, plan to correct practice of depositing with FRBanks daily average of more than 300 items payable in territory of another FRBank, views of Presidents requested, other changes to be discussed at Presidents 10/22 Conference in December Plan to sort and list items separately, action to be postponed, advice re remedying of situation on voluntary basis to be requested and progress to be discussed at next Presidents Conference if desired, letter to be sent to 12/ 9 FRBanks Plan to sort and list items separately if over 300 daily average, action postponed, 12/16 advice to FRBanks Closinp of books for year, procedure to be followed, ad12/23 vice to FRBanks Condition reports, spring call not to be made, advice 3/12 to FRBanks State member banks and affiliates, forms and instructions sent to FRBanks for next call 6/ 2 date Forms and instructions sent to 14RBanks for next call 8/15 date Forms and instructions sent to FHPanks for next call 11/21 date Conference of FRBank Examiners, to be held in Washington September 22, 23, and 26, names of 8/ 1 representatives requested Co nsolidation or merger of State member banks by acquisition of assets of another institution, simplified and uniform procedure ap3/ 5 proved Credit, expansion of bank, reply to FAC statement approved, copies to be sent to Joint Committee on 11/26 Economic Report, FRBanks and FAG Credit situation, telegram to FRBanks requesting infor11/12 mation Credit situation during inflation, statement by Mr. Eccles before Joint Uommittee on Economic Report, approved, copies to be sent to all banks in U. S. and to supervisors 11/26 of banks in all States Custodyreceipts of city correspondent banks, acceptance by FRBanks as collateral for loans to member banks, procedure re, advice to 11/25 FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1472 1723 1769 1825 395 829 1188 1629 1130 334 1659 1548 1643 1640 56 Pages Circulars, Board of Governors: (Continued) Deficiencies in reserves of member banks, computation for holiday period, advice to 12/23 FRBanks Dinners, luncheons, and special gatherings for Board members or staff, arrangements to require Board approval unless FRBanks 3/20 initiate plans for Lood of System Directors of FRBanks and branches, appointment not to be made of individual 70 years old or who would attain age 70 prior to expiration of tern reappointment not to be made if 70 or over, advice to 12/15 FRBanks Directors of FRBanks, revised statement of responsibilities and relation to Board approved, 12/19 copies to be sent to FRBanks Discount rates, increase in, action to be deferred until 12/17 January, advice to FRBanks Dividends, semiannual payment for first half of 1947 6/23 approved Earnin. s reports for first half of 1947, amounts of cer9/10 tain items requested from FRBanks Election of Class 4 or Class B Directors, indication of first choice only sufficient if only two candidates, statement to be in12/ 5 cluded on ballot, advice to FRBanks Examination reports of national banks, recommendations of Conference of Examiners re analysis 11/20 approved, advice to FRBanks FDIC stock held by FRBanks, cancellation, stock certificates to be transmitted to Treasury for presentation to FDIC, advice to 9/16 FRBanks Payments under section 13b(e) not to be made to Treasury after cancellation by FRBanks, instructions to FRBanks for 1947 re12/23 port on FR 418 FRBranch buildings, bill to authorize expenditures up to $10,000,000 signed by President, information re urgent needs of branches 6/ 8 requested Information to be submitted with preliminary plans and 12/ 5 estimates Federal Reserve exchange draft, limitation removed, action of Presidents Conference approved 4/15 FRnotes, interest charge on, telegram to FRBanks re reply 7/22 to be made to letter from Mr. Spahr discussions of Interest rate on, confidentiality between Board and Presidents stated in reply to inquiry from Mr. Spahr, 7/23 advice to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1826 428 1764 1798 1783 972 1267 1704 1603 1277 1824 1160 1713 584 1089 1096 57 Pages Circulars, Board of Governors: (Continued) FRnotes, interest charge on: (Continued) Establishment for three months period ending June 7/30 30, advice to FRBanks Establishment of interest rate for three months period ending September 30, 1947, 10/27 advice to FRBanks Federal Reserve System--Its Purposes and Functions, revised edition, distribution and cost, advice re number of copies needed 9/10 by FRBanks requested Fees and allowances of Directors of FRBanks and Branches and Federal Advisory Council, schedule approved, FRBanks requested to send copies of schedules adopted by boards 2/ 7 of directors Fidelity coverage, FRBanks requested to cooperate in program of FDIC and examiners to re11/10. port on internal safeguards Fa 107, earnings and dividends, forms to be sent to 12/ 9 FRBanks for 1947 report FR 107b, earnings and dividends reports, forms and instructions sent to FRBanks for semi6/ 9 annual report FR 414, computation of reserve tobe carried with PaBank by member banks, revised form re termination of exemption of war loan deposits from reserve requirements, 5/16 copy and instructions sent to FRBanks Form FR 437; annual reports of holding company affiliates to be obtained, instructions to 12/15 FRBanks FR 635 and FR 644, revision, copies sent to FRBanks, sup7/31 ply to be forwarded Forms for commercial banks to report disbursements to International Bank for Reconstruction and Development, FRBanks to be re6/24 quested to distribute Functional Expense Manual, revision approved, copies with FR 634 to be available for disV1 tribution by April 15 Functional expense reports, revised manual of instructions for preparation, instructions re, copies to be sent to FRBanks 4/10 FR 96 and FR 34 to agree with revised form FR 634, 6/19 tnstnictions to FRBanks Gold, international transactions at premium prices, statement by Treasury and Board requesting Americans to refrain from encouraging and facilitating, copy sent to FRBanks 7/22 for publicity http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1115 1485 1268 183 1541 1728 894 741 1765 1125 978 h97 544 946 1093 58 Pages Circulars, Board of Governors: (Continued) Industrial loans and commitments, semiannual list to be discontinued Interest rate on Fhnotes to be paid by FRBanks, establishment approved, advice to FRBanks Press statement re to be sent to member banks if desired, advice to FRBanks International Bank Debentures, purchase Iv national and State member banks up to ten per cent of capital and surplus permissible, advice to FRBanks, statement to be published in July issue of FRBulletin International Bank for Reconstruction and Development, forms for apmmercial banks in reporting disbursements under letters of credit in connection with transactions financed by, to be distributed by FRBanks Job evaluation and classification, advice to FRBanks re salary structures and status of studies on Approved, letter of commendation for work, new plan to be effective as soon as wage structures adopted and approved by Board Loans: 10/10 1425 4/23 618 4/24 633 6/24 979 6/24 975 6/17 933 8/12 1169 "Suggestions for improving statistical information on Bank Loans", copies of report sent to 9/ 8 FRBanks for comments and suggestions Telephone survey of general character of increases in bank loans requested by Treasury, 11/19 FRBanks to give information Membership conditions and proposed amendments to Regulation F re investment of trust funds, action to be deferred until conclusion 4/ 7 of litigation Military service, special benefits, January 1, 1948, to be termination date for employees en11/12 tering, advice to FRBanks National Association of Supervisors of State Banks, to be held in Washington September 24 8/ 1 and 25, advice to FRBanks O perating ratios of member banks for 1947, work sheets (form FR 456) to be sent to FRBanks 10/ 8 upon completion of printing Overtime at FRBanks, restrictions on payments to e)empt employees terminated 3/19 Paul H. Davis & Co., new partnership agreement with Mr. Franklin E. Evans, applicability of Regulation T, information sent to 6/ 4 FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1259 1596 525 1544 1130 1410 423 848 59 Pages CfIrculars, Board of Governors: (Continued) Photographs of directors and chief executive officers, submission to Board to be discon3/10 tinued Postage or other transportation costs on cash items routed direct to FRBanks and branches, reimbursement of member banks for, 6/26 information to FRBanks requested, banks Preferred stock held by RFC, retirement by 3/17 FRBanks to cooperate in Price level of consumer goods, study assigned by Congress to three subcommittees, cooperation of 8/ 8 FRBanks requested Protective surveys by FBI, completion of, letters with recommendations to be sent to FRBanks, advice to FRBanks and request for re8/ 14 port in connection with action Ration banking, termination of program, letter from Mr. Rice re and instructions sent to 7/11 FRBanks RFC Custodian Bulletin No. 1185 re expense vouchers, instructions to FRBanks for audit of 6/18 vouchers by RFC representatives No. 1192 re "Revision of Procedures", motivated by economy objectives and not reflection on services of FRBanks 7/ 9 Regulation D, amendments proposed, views of Presidents 4/28 requested Regulations T and U, amendments to supplements to reduce margin requirements to 75% and press 1/17 statements re sent to FRBanks Regulation T, section h(c), amendment to extend time for settlement for bona fide cash transaction in special cash account recommended by National Association of Securities Dealers, Inc., copies of correspondence and draft of amendment sent to FRBanks for consideration 12/ 4 Regulation V loans, reports of applications for guarantees (FR 581), statement re dianges to be 2/17 discontinued, advice to FRBanks proT-loan and Regulation V Program, history of 77-loan grams prepared by Mr. Hackley, copies 9/ 4 sent to FRBanks on confidential basis Regulation W: Conferences, disciplinary, tabulation of letters of commendation not to be made, advice to FRBanks 1/7 Continuation until November 1, 1947, all Registrants to be advised by FRBanks, suggested 8/ 8 circular sent to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 358 986 1161 1134 1053 939 1034 650 83 1686 217 1247 17 1159 60 Pages Circulars, Board of Governors: (Continued) Regulation W: (Continued) Enforcement Reports, summary for December sent to 1/20 FRBanks Summary for February sent to i.HBanks, increase in proportion of violators to investigations and problems in automobile 3/24 field noted 5/28 Summaries for April sent to FRBanks 9/26 Sumrary for August sent to FRBanks 10/29 Summaries for September sent to FRBanks 11/21 Summary for october sent to FRBanks 5/ 2 Frozen food cabinets, applicability of Kitchen cabinets, not to be considered as furniture, 2/ 3 ruling to be published in FRBulletin Sets and croups of articles, requisites for deter2/ 3 mination of, letter to FRBanks Statement to all registrants (re discontinuance) to be sent to FRBanks before November 1, 10/20 advice to FRBanks Reserve city designation, proposal to be submitted to Presidents and FAC, draft of letter 7/11 to be prepared Discussion of plan and period for review, letter to Presidents transmitting plan to be redrafted to incorporate changes discussed Plan approved, copy sent to FREanks and FAC, to be discussed at Presidents Conference and Federal Advisory Council meeting in 8/13 September , Statement of proposed changes approved for publication FRBanks 10/21 in Federal Register, advice to Hearing to be held at Board before publication of formula, advice to FRBanks concerned with 11/21 changes published be to Standard for Classification approved, in Federal Register and copies to be 12/19 sent to FRBanks Reserves for bad debts on loans, to be reported in earnings reports and deducted from loans inconlition reports, advice to FABanks 12/26 Safekeeping of custody accounts for nonmember banks, termination approved, instructions to 6/18 FRBanks Safekeeping of Treasury bil]s and certificates of indebtedness of nonmember banks, service by FRBanks to be terminated, advice to 5/ 6 FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 91 451 807 1335 1493 1628 676 158 157 1454 1047 1140 11714 11159 1610 1797 1835 940 689 61 Pages Circulars, Board of Governors: (Continued) Salaries of employees of FRBanks, cancellation of statement in letter X-95321 with adoption of new plan of job classification Salaries of officers at FRBanks, to be prepared by staff for consideration by Board Letter stating views of Board Savings bond campaign, cooperation of FRSystem in support of, reply to Secretary Snyder and information to FRBanks Schools of banking, attendance by officers and employees of FRBanks, policy of Board re expenses and leave of absence, advice to FRBanks S. 408, to repeal section 13b and to amend section 13 of FRAct, letter to FRBanks stating need for affirmative action promptly S. 408 and H. R. 3268, industrial loans bills, advice re status S. b08 and H. R. 3268, industrial loans, letter to FRBanks re statement on "Meeting the Special Problems of Small Business" by Research and Policy Committee for Economic Development Staff group on Foreign Interests, first meeting postponed, advice re future meeting to be made Statements made during war re reduction of individual debt and accumulation of inventories of consumer goods, rescinded after discussion with Comptroller of the Currency and FDIC, advice to FRBanks Stock of FDIC held by FRBanks, exchange and reissue of, old certificate to be forwarded to Board to be exchanged for new issue by New certificates sent to FRBanks and old ones returned to FDIC Travel expenses of FRBanks, schedule and reimbursement policy, draft of letter to FRBanks to be revised, after discussion with Presidents and approval by Board, Board's travel regulations to be amended to increase per diem for employees to $8 Schedule and reimbursement, draft of letter to Presidents discussed, to be circulated among Board members for consideration Schedule and reimbursement, letter to Presidents approved, to be discussed at Presidents Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9/ 4 1246 3/25 3/28 461 483 5/29 828 2/3 159 3/21 416 6/13 917 7/29 1111 3/11 394 10/28 1489 1/29 141 3/ 7 354 9/26 1328 9/30 1345 10/ 3 1360 62 Pages Circulars, Board of Governors: (Continued) Travel expenses of PI-Wanks: (Continued) Schedule and reimbursement policy, action deferred, reports on total anount of traveling 11/24 expenses by various groups requested Treasury bills for commercial banks, purchase rate to be set daily by FOMC, sugL estion of Mr. Spencer, to be discussed at next 8/26 meeting of FOMC, advice to FRBanks Treasury Ponds, 2-1/2 per cent, Investment Series A 1965, to be valued at par in examination re9/17 ports, advice to FRBanks Trust assets, information in reports of examination furnished to Trust Research Department of American Bankers Association, ad12/24 vice to FRBanks re Voting permits, issuance of general and limited, procedure 3/10 to be followed Weekly re porting member banks, revision of report form, copy of FR 416 and instructions sent 3/ 5 to FRBanks Weekly member bank press statement, revision approved, 3/28 advice to FRBanks Circulars FRBank of Poston: Check collections, thanes because of recent law in 11/ 5 Massachusetts, letter to FRBank on Circ14 ars, FRBanks: Check collection amendment with respect to protest and wire advice of nonpayment of cash 12/31 items Circular Treasury: Bank loans, telephone survey of general character of increases requested, FRBanks to give in11/19 formation Issue and redemption of war savings bonds, transfer from branches to head offices, views of 4/ 8 FRBanks to be obtained Civil Service Commission: Positions in Board of Governors, full-time with salary rates of (49975 or more, forms sent to 10/10 Mr. Baruch Retirement and Disability Fund, r. Johnson, designated as responsibile for census at Board, 9/10 advice to Mr. Brown ClaYton Antitrust Act: P roceeding against Transamerica group, investigation being 11/ 7 made in connection with Transamerica Corporation, investigation to be made by Mr. Townsend in connection with pro11/24 ceeding a_ainst http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1633 1215 1279 1828 361 335 49° 1529 1847 1596 534 1418 1265 1561 1634 63 Pages Clearing and Collection: Absorption of exchange charges by member banks, Presidents to be advised of Board's posi2/27 tion at joint meeting Acceptance of nonpar items free of exchange by member bank in Baltimore, reply to inquiry from Mr. Albert D. Graham re 7/18 violation of Regulation Q 'Jackson, Miss., of Company Trust Commercial Bank and 4/11 request for information La., Alexandria, of Company Trust Guaranty Bank and 4/11 information received Leach, Messrs. by Board to sent be to Information McLarin, and Davis and matter to be taken up with Treasury and FDIC, dis2/28 cussion at Presidents Conference Insured nonmember banks, digest of information reported by FRBanks of Richmond, Atlanta, and St. Louis, memo to be prepared re and Air. Clayton to confer with Under Secretary of the Treasury Wiggins 7/11 Merchants and Farmers Bank, Meridian, Miss., informa4/11 tion requested Nonmember banks, information requested re banks in 4/11 Mississippi AL rption by FRBanks of transportation costs for cash items, letter from Mr. Baird, Association of Reserve City Bankers re, reply 10/21 to be prepared Borrowing by member bank from FRBank against securities held by correspondent in Liew York City, acceptance of trust receipt of correspondent bank or of FRBank in district as collateral suggested, matter to be 9/30 discussed at Presidents Conference Cash items, reimbursement to member banks for postage on items routed direct to other FRBanks 6/26 and branches, record to be submitted Charges for shipments of currency to nonmember banks, absorption by member banks, reply to FRBank of Dallas re elimination of practice by FRBanks of St. Louis and 1/ 8 Atlanta Louis, shipments United Bank and Trust Company of St. to correspondent banks, advice to 1/30 FRBank of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 269 1077 566 566 305 1048 566 566 1466 1344 986 24 150 64 Pages Clearing and collection: (Continued) Check collection circulars, changes to provide for acceptance of unsorted cash items and to shorten maximum time for deferment of credit for cash items, discussion of memo of Mr. Sme ad, r. Smead to discuss statement with Chairman of Presidents Conference Committee on Collections aid other officers of FRBanks, and proposal for discussion at Presidents Conference to be sub7/18 mitted to Board Check collection procedures, plan to correct practice of depositing with FHBanks daily average of more than 300 items payable in views territory of another FRBank of Presidents requested, other changes to be discussed at Presidents Confer10/22 ence in December Changes re immediate credit for cash items and sorting and listing of items separately discussed at Presidents Conference, letter to be sent to Presidents postponing action until July 1, 1948, advice re remedying of situation on voluntary basis to be requested and progress to be discussed at next Con12/ 9 ference if desired Checkcollection service, modernization of, to be discussed by Chairman Eccles with Presi9/30 dents Statement to be made by Chairman Eccles at rresidents Conference approved, distribution not 10/ 3 to be made to Presidents Check collection system, origin, use, and development to be studied by Presidents' Conference 6/ 6 Committee, statement of Mr. Sproul re Modernization and maximum development, to be discussed 10/31 at meeting of FAC with Board, FAC Changes in, discussion at meeting of FAC opposed to giving of immediate credit on all items, no change to be made before expression of views by 11/18 banks Plan tosort and list items separately if over 300 daily average, action to be postponed until June 1, 1948, draft of letter to Presidents discussed, matter to be 12/ 5 discussed at ?residents Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1067 1472 1723 1345 1365 861 1502 1586 1702 65 Pages Clearing and collection: (Continued) Check collection system: (Continued) Plan to sort and list items separately if over 300 daily average, action postponed, ad12/16 vice to FRBanks Credit control proposals, Presidents to be advised of 2/27 Board's position at joint meeting Credit on all Gush items collected through FRSystem, procedure for immediate discussed informally with Presidents, to be discussed with Presidents in December, lo/17 letter to be revised Delayed return of unpaid items, progress report at Presidents Conference re, amendment to Regulation J expected, no action at 12/ 9 present FRBank of Boston, changes in daeck collection circulars proposed, problem being considered for all FRBanks, but no objection 11/ 5, if necessary at present Federal Reserve exchange draft, limitation on amount removed, action of Presidents' Conference approved 4/15 Fitexchange draft, change suggested by Mr. Peyton and any other desired changes referred to Committee on Operations, advice to Mr. Peyton Removal of $50,000 limit, notification of permiJsion to issue to be continued, future changes to be considered by Committee on Operations, aivice to FRBank of Cleve7/10 land Changes in wording approved, question of issuance by member banks, action deferred pending receipt of minutes of Presidents Con12/ 9 ference Hawaii and Alaska, service to banks in, discussion of use of air mail and function of FRBank 10/17 of San Francisco Maximum deferment of credit for cash items, Presidents to be advised of Board's position at 2/27 joint meeting Reduction to two days, matter to be referred back to Presidents Conference Committee, Board': staff to make study, further reports 2/28 to be made to Presidents http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1769 269 1449 1716 1530 584 1037 1717 1447 269 2714 66 Pages CleaFing and collection: (Continued) laximum deferment of credit for cash items and receipt of unassorted cash items in one cash letter, matter to be studied further after discussion at Presidents Conference and proposal to be submitted to Presidents prior to next joint 6/6 meeting of Presidents and Board Maximum deferment of credit forcash items, discussion of memo of ivir. Smead, question of sorting and listing separately to be discussed by Chairman Eccles with Presi9/30 dents 44embership in FRSystem, effect of service on, discussion of 9/30 Postal money orders, procedure for handling by FRBanks, no change to be made in present practice, advice to ir. Lawler, Post Office Department 8/ 5 Protest and wire advice of nonpayment of cash itenis, recommendations of Presidents Conference Committee on Collections re suggested changes in uniform instructions re, 1/22 approved Amendment to provisions of check collection circulars re, ABA in favor of similar change for commercial banks, letter to Mr. Leach 12/31 Reimbursement of direct sending banks for shipping costs on cash items, recommendation of Pres6/ 6 idents Conference approved Reimbursement of member banks for postage and other transportation costs, resolution of banking and clearing house associations in Dallas District protesting, discussion, procedure to become effective August 1, advice to Mr. Gilbert, other banks to be advised by telephone 7/31 Reply to inquiry from FRBank of Cleveland re report 8/11 for week of August 18-23 Resolution adopted by Fort Worth Clearing House Association, reply to 14r. Smith and 8/19 advice to FRBank of Dallas Protest from Mr. Thompson of First National Bank and Trust Company of Tulsa, Okla., advice to FRBank of Kansas City 8/25 Reply to letter from Mr. Wilbur sent to Congressman Worley 9/18 Discussion at FAG meeting of opposition by Texas Banks and relationship with Regulation 9/23 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 860 1339 13h1 1137 100 1847 865 1119 1165 1196 1212 1285 1297 67 Pages Clearing and collection: (Continued) Reimbursement for postage and other charges: (Continued) Reply to Mr. Miller, Wichita Falls Clearing House 9/29 1338 Association, Wichita Falls, Texas Reply to letter from Mr. Baird, Association of Reserve 10/31 1500 City Bankers, approved Comments on statement by Mr. Faires, letter to Honorable 12/15 1767 Lindley Beckworth United Bank and Trust Company of St. Louis: Absorption of cost of shipments of currency, further correspondence with FRBank of St. Louis 2/ 4 171 re investigation of matter Procedure to be followed in advising member banks re practice, advice to FRBank of St. Louis 2/12 204 COins Booker T. Washington commemorative, no objection to plan of 3/10 367 Special ommittee for distribution Comm ercial Credit Corporation: Advertisement by American Installment Credit Corporation, figures improperly ascribed to FRBulletin, 4/ 2 502 information re sent to Mr. Millians Committees: Banking and Currency of House: FRAct, bill to repeal section 13b and to amend section 13, letter to Chairman Wolcott revised to incorporate reference to statement con1/23 tained in President's budget message 104 FRBranch buildings, repeal of limitation in FRAct in expenditure, letter to Chairman Wolcott recommending repeal or authorization for expenditures for urgent cases up to $10,0001000, 5/29 814 copy sent to Senatory Tobey Banking and Currency of House and Senate: FRAct, bill to repeal section 13b and to amend section 131 copy and recommendation for enactment 1/10 sent to Chairman 39 with draft Bill to amend FRAct and for other purposes, recommendation for enactment sent to 1/10 40 Messrs. Tobey and Wolcott Banking and Currency of Senate: Amending or terminating certain laws, reply to letter 3/ 3 320 from Mr. L'Heureux on bill special of Request of Chairman Tobey for draft 11/26 1665 reserve plan S. 408, Board in favor of, letter to Senator Tobey 2/24 stating views 247 S. 1740, to establish a Federal Small Business Corporation, letter to Senator Tobey opposing bill 10/1 1356 Employees of Board: Group life insu'r'ance, amendments suggested to increase benefits, matter referred to Personnel 7/11 1040 Committee http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 68 Pages Committees: (Continued) Expenditures in Executive Departments, report re number of 3/ 7 351 employees sent to Senator Aiken, Chairman Federal Open Market: Annual report of Board, section for, suggestion of Chairman Eccles, memo to be presented to 4/ 8 529 Board for study and discussion Anti-inflation program, increase in discount rate con10/17 1440 templated in Buying and repurchase option rate on Treasury bill 7/ 9 1027 determined by Executive committee: Alternates: Clayton, Lawrence, second alternate for Board 3/20 436 members 436 3/20 Board members for alternate third Evans, R. M., 436 3/20 Presidents for alternate first M., Ray Gidney, 436 3/20 Presidents for alternate second N., John Peyton, Ransom, Ronald, first alternate in absence of Mr. Eccles, and third in absence of Messrs. 436 3/20 Syzmczak and Clayton, upon return Szymczak, M. S., first alternate for Board 436 3/20 members Members: 3/20 436 Davis, Chester C., appointment approved 3/20 436 Draper, E. G., appointment approved 3/20 436 Eccles, M. S., Chairman, appointment approved 250 Informal discussion of service for ensuing year 2/25 Sproul, Allan, Vice Chairman, appointment ap3/20 436 proved 3/20 436 Vardaman, J. K., appointment approved 959 6/20 Members and alternates Government securities market, program for support, tran12/17 1782 sition to be made to lower point Inflation, reply to letter from Mr. McCabe re, ques5/28 809 tions of policy within jurisdiction of to Treaspresented Long-term bond issue, memo re to be ury by Messrs. Eccles and Sproul, discussion 3/11 388 at meeting of FAC with Board with discuss to Policy, Messrs. Eccles and Sproul 2/ 4 168 Treasury Policy record: Draft of entries for 1946, question of recording personal views of Mr. Sproul, letter to Mr. Sproul to be prepared by Messrs. Clayton and 238 2/21 Carpenter annual report for Board's in Approved for inclusion 19146 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4/25 6146 Co 69 Pages mmittees: (Continued) Federal Open Market: (Continued) Reserves, special reserve requirement plan for threeyear period to control expansion of credit by banks, authority to be vested in, to be recommended by Chairman Eccles to White 11/ 5 House Retirement system, proposal of Chairman Eccles that members of FOMC constitute investment com10/31 mittee, discussion Treasury bills for commercial banks, purchase rate to be set daily by, suggestion of Mr. Spencer, to be discussed at next meeting of, advice 8/26 to FRBanks Foreign relationships: Staff Group on Foreign Interests, representation from FRBanks at meetings, plan approved subject to certain qualifications, advice to Mr. 1/27 Sproul re memo Interests, Informal Policy Group on Foreign national gold policy, proposed press statement to request American banks to refrain from facilitating international traffic in gold at premium prices, copy sent to Secre7/ 2 tary of the Treasury for comments Herter Committee, Board to participate in compilation of material for determination of foreign policy, Mr. Thomas or Mr. Gerschenkron to attend first meeting, after which Mr. Hinshaw to be 9/26 assigned to task House: Judiciary, hearing on Kefauver Bill, statement of Mr. 4/ 8 Townsend to subcommittee Post Office and Civil Service,Employees separated by reduction in force, report sent to Chairman 2/26 Rees Industrial Advisory: FRBank of Atlanta: 1/21 French, W. W., reappointment for year 1/21 Milner, I. C., reappointment for year /21 1 year for Randall, Luther H., reappointment 1/21 year Sanford, John E., reappointment for 1/21 Winship, George, reappointment for year FRBank of Boston: 1/16 Dennett, Carl P., reappointment for one year 1/16 year one Draper, Paul A., reappointment for 1/16 year one for Graham, Edward M., reappointment 1/16 Lewis, J. Colby, reappointment for one year 1/16 one year for nt Thompson, Ralph E., reappointme http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1524 1496 1215 136 1018 1333 529 262 93 93 93 93 93 69 69 69 69 69 Committees: 70 Pages (Continued) Industrial Advisory: (Continued) FRBank of Chicago: Doyle, Edward J., appointment for 1947 approved 1/15 Harnischfeger, Walter, appointment for 1947 approved 1/15 Kerwin, Edwin M., appointment for 1947 approved 1/15 Moxley, G. Barret, appointment for 1947 approved 1/15 Palmer, James L., appointment for 1947 approved 1/15 FRBank of Cleveland: Emerson, Sam W., reappointment approved 2/18 Hood, C. F., reappointment approved 2/18 Ladds, H. P., reappointment approved 2/18 Neff, Herman R., reappointment approved 2/18 Withington, W., reappointment approved 2/18 FRBank of Dallas: Hamon, Jake L., reappointment approved 2/18 Moore, Charles R., reappointment approved 2/18 Moore, Ira T., reappointment approved 2/18 Pollock, Lawrence S., reappointment approved 2/18 Simmons, E. P., reappointment approved 2/18 FRBank of Kansas City: Forrester, D. Bruce, reappointment approved 2/26 McNally, Thomas, reappointment approved 2/26 Thompson, Mason L., reappointment approved 2/26 Vacancies not to be filled at this time 2/26 FRBank of Minneapolis: Bush, John M., reappointment for one year 1/16 Follett, C. 00, reappointment for one year 1/16 Miller, Albert L., reappointment for one year 1/16 Wood, Sheldon V., reappointment for one year 1/16 FRBank of New York: Nelson, Arthur G., reappointment approved 2/10 Noble, Edward J., reappointment approved 2/10 Pouch, William H., reappointment approved 2/10 FRBank of Philadelphia: McDade, John T., reappointment for 1947 3/12 Mechling, B. F., reappointment for 1947 3/12 Powlison, Keith, reappointment for 1947 3/12 Schultz, Daniel H., reappointment for 1947 3/12 Skinner, James M., reappointment for 1947 3/12 FRBank of Richmond: Dennis, Overton D., reappointment approved 2/18 Holtzclaw, J. G., reappointment approved 2/18 Manning, William L., reappointment approved 2/18 Stuart, Walker D., reappointment approved 2/18 Whitehurst, John L., reappointment approved 2/18 FRBank of St. Louis: Finch, M. E., reappointment approved 2/18 Heuser, G. A., reappointment approved 2/18 Norris, Wm. K., reappointment approved 2/18 VanDyke l Jacob, reappointment approved 2/18 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 60 60 60 60 60 220 220 220 220 220 221 221 221 221 221 263 263 263 263 69 69 69 69 191 191 191 396 396 396 396 396 220 220 220 220 220 221 221 221 221 71 Pages Committees: (Continued) Industrial Advisory: (Continued) FRBank of San Francisco: Baker, Wakefield, reappointment approved 2/21 Crandall, Shannon, reappointment approved 2/21 Hayes, Edmund, reappointment approved 2/21 Nichols, Henry D., reappointment approved 2/21 Starr, Walter A., reappointment approved 2/21 Joint Committee on Economic Report, statement by Mr. Eccles re meansof correction for monetary and credit situation during inflation, approved, copies to be sent to all banks in U. S. and to supervisors of banks in all 11/26 States National Advisory Council on Domestic Credit Extension, draft of bill prepared by Treasury Department to establish, Board not in favor of, Mr. Lynch, General Counsel of Treasury, to be advised 12/15 Personnel of Board, assignment of subjects for initial consideration 3/20 Assignment of subjects for primary consideration 6/20 Consultants, services of part-time, to be requested with approval of Board upon recommendation of 10/ 3 Expenditures of Board, question of charges to be referred to 3/20 FRBank of Dallas, report of Mr. Eads re discharge of 44 employees, statement of Mr. Townsend re situation, recommendation as to procedure to be followed to be submitted by 4/ 8 Group life insurance for employees of Board, amendments suggested to increase benefits, matter 7/11 referred to Job evaluation and personnel classification plan at 7/22 FRBanks, authorized to approve final plans Members of 6/20 Clayton, Lawrence, appointment for 1947 2/25 Appointment for 1947 3/20 Evans, R. M., appointment for 1947 2/25 Appointment for 1947 3/20 Outside business activities of staff of Board, procedure re to be prepared by 10/21 Retirements in official staff of Board, problems and possible changes to be studied by 5/13 Salary classification plans of FRBanks, subject assigned to until completion of work, then to revert to Mr. Vardaman 5/23 Matter of scales and variation referred to for study and recommendation before Presidents Conference 5/23 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 244 244 244 244 244 1643 1747 436 958 1362 429 531 1040 1084 959 250 437 250 437 1465 720 787 788 72 Pages Co mmittees: (Continued) Personnel of Board: (Continued) Travel expenses, increase in per diem allowance for nonofficial personnel of Board, question to be referred to 10/17 1442 Travel regulations, proposed trips to be approved in advance by 3/20 425 Policy group on foreign interests, to make recommendations to Treasury re loans by American commercial 5/20 751 banks on foreign-owned gold Presidents, Conference: Bank examination policy, to be appointed to confer with 6/ 6 885 Board of Governors Committee on Collections, recommendations re suggested changes in uniform instructions regarding protest and wire advice of nonpayment of cash items, approved 1/22 100 Committee on Operations, FRexchange draft, change suggested in form by Mr. Peyton and any other desired changes referred to, advice to Mr. Peyton / 2 1018 Reimbursable Expenditures to consider discontinuance of charges to fiscal agency units for expenses incurred in "service units" of revised functional expense manual, topic to be discussed at Presidents Conference 625 Special Committee, no objection to plan for distribution 4/23 of Booker T. Washington commemorative coins, advice to Mr. Leach 3/10 367 Research and Policy Committee of Committee for Economic Development, statement on "Meeting the Special Problems of Small Business", endorsement of S. 408 and H. R. 3268, FRBanks requested to publicize 7/29 1110 Retirement system, investment committee, not necessary for Board representative on board of trustees to 12/ 5 1700 be member of Section 522(c) of Tariff Act of 1930, proposed amendment to and question of service of Board's staff on committee to assist Treasury in administration of, letter from Mr. Sproul re circulated to Board for information 1/27 135 Senate: Banking and Currency Committee: FRBranch buildings, repeal of limitation in FRAct on expenditure, letter to Chairman Wolcott recommending repeal or authorization for expenditures for urgent cases up to $10,000,0001 copy sent to Senator Tobey 5/29 814 Reply to letter from Mr. LIHeureux re retaining, amending or terminating certain laws 320 3/ 3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Committees: 73 Pages (Continued) Senate: (Continued) Public Lands: Compulsory membership in FRSystem of national banks in Hawaii, amendment to H. R. 49 recommended, matter to be taken up with Messrs. Hanl and Delano before action 10/17 Staff Group on Foreign Interests, first meeting postponsed, advice re future meeting to be sent to FRBanks 3/11 Subcommittee on Personnel Classification and Job Evaluation, to study question of cafeterias at FRBanks and submit report by next meeting of Presidents Conference 10/ 7 System Research Advisory: Classification of deposits for reserve purposes, directed to study possible chanLes in law 7/ 2 Reserves, computation of member banks', to recommend changes in law as soon as possible 12/17 Statistical reports and surveys, discussion at Presidents Conference of clearance of studies at policy level, report to be made by 10/ 7 Comnodity Credit Corporation: Lending activities, objectionsof FAC to, statement to be revised 11/18 Co of the Currency: All-bank statistical series, Board to join with Comptroller and FDIC to arrange for compilation and publication of single, letter to Bureau of the Budget 6/ 5 Bank credit policies during inflation, joint statement to be issued re, to be revised by Mr. Clayton and discussed with Treasury before review with executive committee of National Association 11/17 of Supervisors of State Banks Joint statement re, discussion, to be considered by Board while being reviewed by representa11/21 tive group of Supervisors of State Banks Capital requirements and establishment of intracity branches 11/21 to be discussed with CaPital requirements for State member banks and for establishment of branches by member banks, letter with draft bill sent to, views requested 12/ 5 Condition reports of national banks: Call as of December 31, 1946 1/ 3 Spring call not to be made 3/12 Call as of June 30 7/ 2 ebt, reduction of individual as restraint upon rising living costs, joint statement issued re, elimination from reports of examination of State member banks planned, opinion of Mr. Delano requested 10/ 8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1447 394 1394 1005 1778 1401 1579 854 1560 1606 1628 1709 395 1014 1411 74 Pages ConTtroller of the Currency: (Continued) Examination of reports of 28 insured banks, request by GAO for permission, Messrs. Leonard and Townsend 1/17 to discuss matter with FDIC and Inventories of consumer goods, accumulation of, statement of Chairman Eccles in 1942 re, elimination from reports of examination of State number banks 10/ 8 planned, opinion requested Accumulation of, statement of Chairman Eccles in 1942 re, elimination from reports of examination, 10/28 advice to FRBanks Investments in and loans on Government securities, joint statement issued in 1942, no instructions to be issued to examiners re, opinion relo/ 8 quested Joint statements issued in 1942 re individual debt and investments in and loans on Government securities, discussion of cancellation, no action to be taken by Board as to further statement 7/ 2 Instructions to be made to examiners re, opinion requestlo/ 6 ed examiof reports in Request that comments be included 10/28 nation rescinded, advice to FRBanks inflation during Joint statement on bank credit policy 11/24 issued State of admission for Legislation on capital requirements banks to membership and for establishment of branches by member banks, letter to be 11/26 prepared be to Banks, State of Supervisors of National Association 6/20 invited to dinner given by Board for Reports of examination, availability to Government agencies, requests to be submitted in accordance with approved procedure, discussed in connection with request of Treasury Intelligence Unit for information from report of examination of Annapolis Bank and Trust Company, Annapolis, 2/25 Md. 3/17 Policy re, advice to Service of Samuel L. Fuller and W. R. Lovett under Sec. 32 of Banking Act of 19332 letter on action to 9/30 be taken Transamerica Corporation, investigation to be made re monopolistic aspects of expansion, advice to be 10/31 sent to to be made investigation Anti-trust proceeding against, to determine decision re, Mr. Townsend designated to proceed with, request that decision on pending applications for branches by Bank of America and First National Bank of Portland 11/24 be deferred, letter to Mr. Delano http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7)4 1411 1489 1411 1011 1411 1489 1635 1643 952 254 414 1353 1511 1635 75 Pages ConTtroller of the Currency: (Continued) , Voting permits, copies now sent to 11/20 Londition reports: Bankers Company of New York, New York, call as of December 1/ 2 31, 1946 Call as of June 30 7/ 7 Chase Bank, New York, N. Y., call as of December 31, 1946 1/ 2 Call as of June 30 7/ 7 Connecticut State member banks, publication as of September 30 instead of October 6 approved in accord10/ 9 ance with State law FR 105, change made for reporting reciprocal balances of private banks and bankers, copy sent to 5/26 FRBank of New York First of Boston International Corporation, Boston, Mass., call as of December 31, 1946 Call as of June 30 F reign banking corporations, call as of June 30 7// / French American Banking Corporation, New York, call as of December 31, 1946 Call as of June 30 Y/ International Banking Corporation, New York, N. Y., call as of December 31, 1946 Call as of June 30 11 7/ 7 Lewis Investment Company, Kansas City, Missouri, submission of report and listing of affiliates on 8/ 1 Schedule "0", form FR 105b, not required Loan schedule, copies of report, "Suggestions for improving statistical information on Bank loans", sent 9/ 8 to FRBanks for comments and suggestions McAllen State Bank, McAllen, Texas, errors in published state7/25 ment, republication of report not required Merchants & Newark Trust Company, Newark, N. J., affiliate reports covering J. S. Rippel & Co., Guaranty Company of New Jersey and Securities Company 3/24 of New Jersey not required to be published Morgan & Cie, Incorporated, New York, N. Y., call as of De1/ 2 cember 31, 1946 Call as of June 30 7/ 7 1/ 3 National banks, call as of December 31, 1946 3/12 Spring call not to be made 7/ 2 Call as of June 30 10/ 8 Call as of October 6, 1947 Reserves for bad debts on loans, to be reported in earnings reports and deducted from loans in, advice 12/26 to FRBanks State banks: Summaries, special, not required since publication of single series of assets and liabilities by three banking supervisory agencies to take place of all-bank statistical series, press II/ 7 statement and advice to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1602 I 1024 1 1024 1416 797 214 o0 10 10214 10211 4 1129 1259 1102 450 1 1024 7 395 1014 1405 1835 1535 76 Pages Condition reports: (Continued) State member banks: call as of December 31, 1946 1/ 3 Spring call not to be made 3/12 Revised form FR 105 approved 4/ 7 Forms and instructions sent to FRBanks for next call date 6/ 2 Call as of June 30 7/ 2 Forms and instructions sent to FRBanks for next call date 8/15 To be available to FDIC for confidential use of Department of Agriculture for tabulation of data 9/16 Call as of October 6, 1947 10/ 8 Forms and instructions sent to FRBanks for next call date11/21 Weekly reporting member banks, revision, copy of form FR 416 and instructions sent to FRBanks 3/ 5 Revision approved, advice to FRBanks 3/28 Confere c Auditors, to be held in Washington within next three months, Division of Examinations to make arrangements with Mr. Fogg if agreeable, letter to Mr. Grady 1/10 To be held in Washington on April 14-16, list of representatives requested, letter to FRBanks 2/14 Chairmen: Manner of investigating defalcations and per diem payments to former officer not to be taken up with 11/26 Meeting to be held on December 1-2, Chairman to be invited to dinner on first evening and cost to be paid by Board 9/30 Topics for discussion: Agenda for meeting on December 1-2, completion of preliminary draft 10/17 Branch banks, transfer of functions to head offices 3/28 Examination policy of FRBanks 3/28 Limitation on length of service of directors of 10/17 FRBanks Relations of boards of directors of FRBanks to Board 10/17 of Governors Revised statement of responsibilities and letter of transmittal approved by Board if no fur11/21 ther changes suggested at next conference Counsel of FRBanks, to be called to convene in Washington in November, topics for agenda to be submitted to Mr. Vest 7/22 Examiners of FRBanks, to be held in Washington September 22, 23, and 26, names of representatives requested 8/ 1 Credit matters, joint statements issued re, discussion of instructions to be given to examiners re, letters to Messrs. Hanl and Delano requesting opinion of planned procedure 10/ 8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7 395 526 829 1014 1188 1276 1405 1629 335 490 38 213 1671 1347 1443 472 476 1h)13 1443 1612 1088 1130 1411 77 Pages Conferences: (Continued) International Monetary Fund and International Bank for Reconstruction and Development, Mr. Knapp authorized to attend annual conference in London in place of Chairman Eccles and to visit other 6/20 countries in Europe attend to Knapp Mr. International Fund and Bank in London, and also to visit central banks in Europe, 8/ 1 advice to FRBank of New York Mr. Vardaman 2/ 4 by Midwinter Trust Conference of ABA, attended be to Banks, State of National Association of Supervisors held in Washington September 24 and 25, let8/ 1 ter to FRBanks preto Musgrave Mr. Fla., Miami, at National Tax Association pare report on papers and discussions of 11/13 interest to Board Personnel classification plans of FRBanks, meeting at FRBank of Philadelphia to discuss uniform plan, 1/27 statement by Mr. Nelson Personnel officers of FRBanks,leaves of absence, plan for sick and annual at FRBanks to be submitted 8/ 7 to Presidents: Absorption of exchange charges, information to be sent to Board by Messrs. Leach, McLarin, and Davis and matter to be taken up with Treasury and 2/28 FDIC Annual, sick andcther leave at FRBanks, schedule for, discussion of, problem to be studied by personnel officers of Banks and Board's staff 6/ 6 and report to be submitted ReBank examination policy and coordination of Federal serve policy and supervision policies throughout the System, Presidents' committee to con6/ 6 fer with Board re3351), H. and R. 829 Bank holding company bill (S. 6/ 6 view of present status by Chairman Eccles discussion service, military in Benefits to employees of uniform policy, letter to be sent to 10/ 7 FRBanks outlining program Branch bank building legislation, review of present 6/ 6 status by Chairman Eccles to reduced be to of, absorption expenses, Cafeteria 6/ 6 25% by 1948, discussion of of employment experts of and reduction of Discussion to study question, Presidents not in favor of, subcommittee on Personnel Classification and Job Evaluation to submit report by next 10/ 7 meeting of http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 959 1129 163 1130 1550 125 1147 305 872 884 893 1388 893 885 1340 78 Pages Co nferences: (Continued) Presidents: (Continued) Capital requirements of member banks without branches, 2/28 amendment to FRAct re, discussion this at possible not Consideration of legislation 3/ 7 session of Congress reagainst, discrimination Legislation to remove commendation to be included in annual report and Board to take steps to introduce bill at 6/ 6 next session of Congress but modify to bill proposed Presidents in favor of opposed to provision requiring approval of Board for establishment ofintracity branches 10/ 7 for State member banks next at discussed be to Check collection procedures, 12/ 5 meeting Changes re immediate credit for cash items and sorting and listing of items separately discussed, letter to be sent to Presidents postponing action until July 1, 1948, advice re remedying of situation on voluntary basis to be requested and progress to be discussed at 12/ 9 next Conference if desired Collateral to secure uninvested trust funds, amendment to Regulation F not possible, amendment to Regulation H re membership to be considered 2/28 further Consumer credit-Regulation WI legislation re continuation, statement of Chairman Eccles re con2/28 versation with Congressman Wolcott Chairman Eccles to testify at hearings on bill re, statement re status and letter received from 6/ 6 the President Control Credit Credit control proposals, "Analysis of Proposals" report accepted, further study desirable, discussion by Chairman Eccles re 2/28 Currency movements, precautions against robbery discussed at recent meeting, letter to Mr. J. 3/27 Edgar Hoover advising of nonmemfor securities Government Custody of short-term 6/ 6 ber banks, termination of service approved re report amendprogress items, unpaid of return Delayed ment to Regulation J expected, no action at 12/ 9 present Club during ConCountry Tree Burning at golf Dinner and 9/26 ference and other guests invited Directors of FRBanks, composition of boards, topic not 2/28 discussed Directors fees, schedule of maximum fees and allowances, differential between head office and branch 2/28 directors, discussion http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 309 348 881 1385 1703 1723 290 286 879 283 470 866 1716 1330 316 301 79 Pages Co nferences: (Continued) Presidents: (Continued) Examination policy with respect to member bank loans, new statement of policy to be prepared by 2/28 Board and bank supervisory agencies Examination reports of national banks, recommendations of Conference of Examiners re analysis ap11/20 proved, advice to FRBanks Expenditures of FRBanks, budget procedure to be developed, discussion of plans, Presidents Committee on Operations to work with Board's 2/28 staff to Budgetary procedure, suggestions from Presidents be turned over to Committee on Expense Accounting and Division of Bank Operations 4/15 to discuss matter with Committee Federal labor laws, applicability to Reserve Banks, Reserve Banks excepted under National Labor Relations Act, but to attempt to comply with provisions of Fair Labor Standards 6/ 6 Act 2/28 FRBank stock, dividend rate on, topic not discussed Federal Reserve exchange draft, limitation removed, 4/15 action approved Changes in wording approved, question of issuance by member banks, action deferred pending 12/ 9 receipt of minutes of Conference Frequency of pay days, bi-weekly or weekly basis favored 2/28 if possible to work out satisfactorily Functional expense accounting, revision of FR 634 and manual to be made, reports to be submitted 2/28 monthly for present Functional expense reports: Changes in dates for submission and instructions to be recommended by Presidents to alleviate 10/ 7 difficulties, discussion recommenmonthly, Submission quarterly rather than 12/ 9 dation to be approved Treasury and Act Gold problem, revision of Gold Reserve regulations and reduction of handling charge on purchases and sales of gold recommended 2/28 no action at present additional proof 408, discussion Industrial loans, S. visions, matter to be left open for further 2/28 consideration present status of review Industrial loan bill (5.408)„ 6/ 6 by Chairman Eccles Interlocking relationships with security concerns, Section 32 of Banking Act of 1933, discussion 2/28 of suggested change Job evaluation and personnel classification plans, final 1/27 plans to be discussed http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 292 1603 297 583 879 316 584 1717 282 273 1400 1718 316 306 893 290 126 Co 80 Pages nferences: (Continued) Presidents: (Continued) Job evaluation: (Continued) New plan to be put in effect by July 1 Discussion of progress made, further study to be made to reach 25% variation 2/28 281 6/ 6 869, 888 Legislative situation, review of present status of industrial loan bill, bank holding company bill, and branch bank building legislation by 6/ 6 Chairman Eccles List of topics submitted by Presidents considered by Board, Mr. Eccles to state views of Board 10/ 7 at joint meeting Loan value of Treasury bills, to be maturity value, 12/ 9 views of Presidents approved by Board Luncheon at which Mr. John L. Hennessy will be present to discuss operation of cafeterias, Presi9/24 dents invited to attend Maximum deferment of credit for cash items, reduction to two days, matter to be referred back to Committee on Operations and Board's staff to make 2/28 study, reports to be made to Presidents Receipt of, and unassorted cash items in one cash letter, matter to be studied further by Board's staff and proposal to be submitted to Presi6/ 6 dents prior to next joint meeting 2/28 Meeting with Board 6/ 6 Meeting with Board 10/ 7 Meeting with Board 12/ 9 Meeting with Board with connection Officers' salaries, discussion in adoption of personnel classification plans, increases for junior officers to be considered, but adjustments for senior officers to be submitted at time of regular annual 10/ 7 review Reserve of officers of connections business Outside Banks, existing situations to be reviewed 6/6 by Board further Payment of portion of Reserve Bank earnings to Treasury, discussion of various methods, but no 2/28 conclusions reached Periodic reports on banking conditions, discussion of 2/28 material to be used and purpose of Precautions against robbery, survey to be made by FBI of practices of FRBanks in handling money and securities, and educational campaign to 2/28 be conducted among member banks Protective measures, recommendations of FBI, continuing 10/ 7 attention to be given to matter http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 893 1374 1718 1324 274 860 273 860 1377 1716 1387 888 310 304 302 1399 Conferences: 81 Pages (Continued) Presidents: (Continued) Rates, fortnightly establishment, amendment to FRAct recommended, no action to be taken at 2/28 present Regulations T and U, administration and enforcement, liberalization re substitution of securities in undermargined accounts, matter to be con2/28 sidered further Reimbursement for expense of "service units", continuation of policy, recommendation of Presidents approved unless amounts requested by Treasury 6/ 6 should become controversial Reimbursement of direct sending banks for shipping costs, recommendations approved, FRBanks to be noti6/ 6 fied of effective date Relations with Board, advance notice to FRBanks re amendments and other material to be released to press, discussion of procedure to be 2/28 followed FRBanks to be given as much advance notice as 3/'7 possible of Board action Reports and surveys, regular and special statistical, 6/6 number to be reduced as much as possible Reserve and central reserve cities, designation, Presidents opposed to plan to be effective Janu10/ 7 ary 1, 1948, discussion of legislation Reserves, problem of excess, no action required in con2/28 nection with D to Regulation to Reserves of member banks, amendment change period for calculation of, recom4/28 mended by Retirement system, changes proposed in Board plan re investment policies, discussion, no action to be taken at present, matter to be dis12/ 9 cussed further at next Conference S. 408, industrial loan bill, proposed amendment to section 13 of FRAct, letter to FRBanks to 3/ 7 be prepared Statistical reports and surveys, overburdening of banks and business concerns with, discussion of clearance of studies at policy level, System Research Advisory Committee to make report 10/ 7 on matter make to System moving picture, FRBank of Cleveland original picture for educational job for System, authorization to be requested, dis10/ 7 cussion of Board, considerawith Topics discussed at joint meeting 3/ 7 tion by Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 285 293 867 865 294 346 883 1377 315 650 1719 347 1401 1402 346 82 Pages Conferences: (Continued) Presidents: (Continued) Topics for discussion: (Continued) Absorption of exchange charges by member banks, Presidents to be advised of Board's position 2/27 at joint meeting Leonard Mr. Bank examination policy, statement of submitted to Presidents for study before 6/ 3 joint meeting with Board securiagainst Borrowing by member bank from FRBank ties held by correspondent in New York City, acceptance of trust receipt of correspondent bank or of FRBank in district sug9/30 gested as collateral to Board to submission Budgets of FRBanks, annual, be resumed, procedure to be discussed, advice 2/ 4 to FRBanks 3/28 offices head to of functions transfer Branch banks, 2/ 4 Cafeterias of FRBanks, absorption of expenses for meals for charges and meals free of Question employees, including cafeteria employees, to be discussed, views of Mr. Sproul requested 5/16 Absorption of expenses, reduction in authorization from 50% to 25% effective January 1, 5/23 1948, view of Board to be stated at Absorption of expenses, subcommittee to study question and submit report by next meeting 10/ 7 Capital requirements of member banks, legislation re, Presidents to be advised of Board's 2/27 position at joint meeting Charges to fiscal agency units for expenses incurred in "service units" of revised functional ex4/23 pense manual discussed be Check collection procedures, changes to in December, with one exception of deposit at FRBanks of daily average of more than 300 items payable in territory of another FRBank10/22 Sorting and listing of items separately, matter to be left to FRBanks, progress reports to 12/ 9 be discussed if desired apEccles Chairman by made be to Statement proved, distribution not to be made to 12/ 3 Presidents if over separately items list and sort Plan to 300 daily average, draft of letter to FRBanks 12/ 5 re of check ion modernizat , collection and Clearing collection service and question of sorting and listing separately to be discussed by 9/30 Chairman Eccles with http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 269 836 1344 166 472 169 740 791 1394 269 625 1472 1723 1365 1702 1339 Co 83 Pages nferences: (Continued) Presidents: (Continued) Topics for discussion: (Continued) Collateral to secure uninvested trust funds, Presidents to be advised of Board's position at 2/27 joint meeting Consumer Credit - Regulation W, Presidents to be ad2/27 vised of Board's position at joint meeting Credit control proposals, Presidents to be advised 2/27 of Board's position at joint meeting Credit on all cash items collected through FRSystem, 10/17 procedure for immediate Custody of short-term Government securities for nonbanks, advice to FRBank of Chicago 5/16 Custody receipts of city correspondent banks, acceptance by FRBanks as collateral for loans to member banks, procedure re 11/25 Directors fees, Presidents to be advised of Board's position at joint meeting 2/27 Discount rates, advance in, no change to be made until increase in rate on Treasury certificates, matter to be considered at October meeting 7/18 Increase in, action to be taken before end of year 12/ 5 Examination policy re member bank loans, Presidents to be advised of Board's position at joint meeting 2/27 Examination policy of FRBanks 3/28 Expenditures of Reserve Banks, Presidents to be advised of Board's position at joint meeting 2/27 Federal funds, purchase and sale by member banks in New York District, practice in connection with all banks to be discussed 10/ 3 Fiscal agency costs, absorption of more 2/ 4 Absorption of greater portion by FRBanks, to be discussed with Presidents before review with 2/11 Treasury Department Absorption by FRBanks, Mr. Smead to discuss matter with Presidents Conference Committee on Fiscal Agency Operations and Reimbursable Expenses 2/21 Franchise tax, restoration of, or other means of channeling excess earnings to Treasury, Presidents to be advised of Board's position at joint meeting 2/27 Frequency of pay days, Presidents to be advised of Board's position at joint meeting 2/27 Functional expense accounting, Presidents to be advised of Board's position at joint meeting 2/27 Industrfal loans, possible legislation re, Presidents to be advised of Board's position at joint meeting 2/27 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 269 269 269 1449 741 1640 269 1066 1689 269 476 269 1368 167 198 240 269 269 269 269 84 Conferences: Pages (Continued) Presidents: (Continued) Topics for discussion: (Continued) Interlocking relationships with security concerns, Presidents to be advised of Board's position 2/27 at joint meeting Job evaluation and personnel classification plans, 1/27 final plans to be discussed Presidents to be advised of Board's position at 2/27 joint meeting 4/15 Labor laws, applicability to FRBanks Applicability to FRBanks 5/ 9 Leave schedule for FRBanks, to be developed by Presidents Conference Committee in consultation with Mr. Nelson for consideration by Conference and Board 3/ 5 List of topics submitted by Presidents considered by Board, Chairman Eccles to state views at 6/ 6 joint meeting Loan fund for employees of FRBanks„ draft of letter 12/15 to Mr. Sproul to be prepared Maximum deferment of credit for cash items, Presidents to be advised of Board's position at 2/27 joint meeting Receipt of, and unassorted cash items in one cash letter, matter to be studied further by Board's staff and proposal to be submitted to Presi6/ 6 dents prior to next joint meeting Mr. Smead to discuss statement further and sub7/18 mit proposal to Board Military service, discontinuance of additional benefits, service credit under Retirement System and reimbursement for cost of premiums on 7/18 National Service Life Insurance NLRB, question of jurisdiction in case of FRBank of 2/11 Dallas re discharge of 39 employees Outside business relations of officers of FRBanks, 4/11 to be placed on agenda for next meeting 5/ 9 Letter to Mr. Sproul re Periodic reports on banking conditions, Presidents to be advised of Board's position at joint 2/27 meeting Precautions against robbery, Presidents to be advised of Board's position at joint meeting 2/27 Rates, fortnightly establishment, Presidents to be advised of Board's position at joint meeting 2/27 Regulations T and U, administration and enforcement of, Presidents to be advised of Board's posi2/27 tion at joint meeting Relations of FRBanks with Board, Presidents to be ad2/27 vised of Board's position at joint meeting http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 269 126 269 576 700 330 858 1761 269 860 1067 1076 196 558 700 269 269 269 269 269 85 Pages Co nferences: (Continued) Presidents: (Continued) Topics for discussion: (Continued) Reserve cities, designation.of,suit IT Michigan National Bank of Lai sing, Mich., to be deferred pending further Board action after 7/ 2 next meeting require reserve and Reserve city designations ments, plan approved, copy sent to FRBanks 8/13 and FAC to re memo Eccles, n Change suggested by Chairma be prepared and revised formula to be dis9/26 cussed city reserve central of ments Reserve require banks, not to be increased at present, view 12/ 5 to be expressed at employof s service of on retenti system, Retirement ees until age 70, change in system and compensation arrangement suggested by Chairman 11/ 4 Eccles Retirement system investment policies, memo outlining changes proposed by Chairman Eccles to 12/ 5 be prepared for discussion 9 12/ Changes proposed in Board plan Robberies of messengers delivering money to and from Seattle Branch, information from FBI re plans 2/19 for Travel expenses of FRBanks and absorption of cafe3/14 teria expenses 5/ 8 Establishment of schedule 9/26 Schedule and reimbursement policy Schedule and reimbursement, letter to Presidents 10/ 3 approved, to be discussed at by shed establi Treasury bills, loan value to be FRBanks, letter to Mr. Sproul re, matter to 12/ 5 be discussed adbe to nts Preside , Wagner Questionnaire matters 2/27 vised of Board's position at joint meeting of offices head to s branche Transfer of activities from Reserve Banks, Treasury proposal in connection with savings bonds redemption, no change to 6/ 6 be made in services at present Travel expenses of officers and employees of FRBanks policy re reimbursement, problem to be studied by personnel officers of Banks and 6/ 6 Board's staff and report submitted Discussion of schedule and reimbursement, Presidents 10/ 7 not in favor of, Board to make decision Re gulation W, disciplinary, tabulation of letters of commendation not to be made, advice to FRBanks V 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1004 117L 1329 1689 1520 1699 1719 225 4o6 694 1328 1360 1708 269 868 886 1395 17 Co 86 Pages nferences: (Continued) Staff members of Board and FRBanks, expense of dinners not 2/b to be paid by Board System Conference of Examiners and System Research Advisory Committee, meeting of committee to study loan data available from call reports, exam9/ 8 ination reports, etc. Co nnecticut: Gondition reports of State member banks, provisions of State 10/ 9 law on publication of Con solidations: American National Bank of Miami and First National Bank of Miami, Florida, question of holding company affiliate relationship of Genesee Corporation and W. R. Reynolds & Company and neces5/14 sity for obtaining voting permit American Trust Company, San Francisco, California, establishment of branch in Mill Valley, California, subject to purchase of assets of Mill Valley 5/12 Bank, Mill Valley, Calif., approved Colonial Trust Company, Pittsburgh, Penna., no objection to purchase of assets and assumption of liabilities of Carrick Bank, Pittsburgh 3/ 4 Commercial National Bank of Kansas City, Kansas, with Kansas Trust Company, authority to exercise fidu1/8 ciary powers granted Commonwealth Trust Company of Pittsburgh, Penna., establishment of branch at McKees Rocks, Penna., in connection with purchase of assets and assumption of deposits of Chartiers Bank, 3/10 McKees Rocks, Penna., approved County Trust Company, White Plains, New York, establishment of eight branches in Westchester County, New York, approved in connection with proposed absorption through merger of Washington Irving Trust Company, Port Chester, N. Y., and Bank 7/ 9 of Westchester, Yonkers, N. Y. Dollar Savings and Trust Company, Youngstown, Ohio, establishment of branch in Campbell, Ohio, approved subject to purchase of assets and assumption of deposits of City Trust and Savings Bank, 7/25 Youngstown, Ohio Fidelity Trust Company, Baltimore, Md., establishment of branch in Towson, Md., approved in connection with proposed merger of Bank of Baltimore 11/28 County, Towson, Md. Fifth Third Union Trust Company, Cincinnati, Ohio, establishment of branch in Reading, Ohio, approved subject to absorption of Reading Bank, Read9/30 ing, Ohio http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 170 1259 1416 726 704 327 23 359 1029 1101 1677 13)49 87 Pages Con solidations: (Continued) Harvard Trust Company, Cambridge, Mass., establishment of branch in Arlington, Mass., in connection with proposed absorption of Menotomy Trust 2/26 Company, Arlington, approved of n acquisitio I., R. Industrial Trust Company, Providence, assets and assumption of liabilities of Ashaway National Bank, Ashaway, R. I., no 3/ 5 objection to banks national and of State Legislation to equalize position in, statement of Mr. Vardaman re meeting in 3/14 New York, no reoommendation to be made permit, to bill proposed National banks with State banks, 12/ 5 letter to Mr. Needham, ABA, re estabYork, New Watertown, Company, New York Trust Northern lishment of branch in Adams, New York, in connection with proposed merger with Citizens and Farmers Trust Company, Adams, New York, approved, further applications not to be made on basis involving reduction of invested capital, Marine Midland Corporation, holding 3/20 company affiliate, to be advised Proposed absorption of Bank of Philadelphia, New York, discontinuance of negotiations for, advice 4/ 3 to FDIC Absorption of Citizens and Farmers Trust Company, Adams, New York, and expansion program, opinion of 4/ 3 Board sent to FDIC Negotiations with Copenhagen National Bank and Carthage National Exchange Bank, nothing imminent re, 4/ 3 advice to FDIC approved York, New , Establishment of branch in Copenhagen in connection with proposed purchase of assets and assumption of liabilities of Copenhagen 10/ 8 National Bank Pennsylvania Company for Insurances on Lives and Granting Annuities, Philadelphia, Pa., purchase of assets and assumption of liabilities of Kensington National Bank of Philadelphia and merger with Germantown Trust Company, Phil2/24 adelphia, no objection to Pennsylvania Company for Banking and Trusts, Philadelphia, Pa., merger of Common Trust Fund of Germantown Trust Company into Discretionary Common 8/ 8 Trust Fund of, no objection to Planters Bank and Trust Company, Hopkinsville, Ky., assumption of deposit liabilities of Bank of Kirkmans2/19 ville, Kentucky, no objection to Provident Savings Bank and Trust Company, Cincinnati, Ohio, establishment of branch at Sharonville, Ohio, in connection with proposed absorption of Sharonville Bank, Sharonville, Ohio, approved4/21 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 263 336 401 1710 439 508 508 508 1408 246 1155 224 613 88 Pages Consolidations: (Continued) Safe Deposit and Title Guaranty. Company, Kittanning, Penna., no objection to purchase of assets and assumption of deposits of National Kittan2/14 211 ning Bank, Kittanning, Penna. State member banks, acquisition of assets of another institution by merger, consolidation or purchase, simplified and uniform procedure approved 3/ 5 334 Tax advantages favoring national charter instead of State charter, proposed amendment to remove,Mr. Vardaman to advise ABA that Board would favor legislation that would also remove discrimination against member banks re capital requirements for banks operating branches 3/ 7 345 Consumer finances, agreement with University of Michigan for 8/15 1189 Third National Survey Third national survey, letter to University of Michigan 11/ 7 1536 amending agreement Consumer goods, study of inter-relation between intentions to purchase and prices and income expectations, . letter to University of Michigan on 6/26 987 proposal Consumer instalment credit: Regulation of, restoration discussed at meeting with Federal 11/18 1590 Advisory Council 00 nstuners Home Equipment Company and A. B. Chereton, violations of Regulation WI report of Mr. Townsend on appeal in Cincinnati 530 4/ 8 0 ontributions: Jefferson National Expansion Memorial Association, additional contribution by FRBank of St. Louis 2/11 198 not approved Police Boys Club, reply to request of Mr. Simmons that em2/17 218 ployees be solicited for P°11oy of Board re, discussion in connection with request by FRBank of St. Louis for permission to make additional contribution to Jefferson 2/11 199 National Expansion Memorial Association Conventions: American Bankers Association, attendance of Board members and staff at conventions, policy approved in connection with convention to be held at 6/20 954 Atlantic City Conversions: Commerce National Bank of Toledo, Ohio, application for ficuciary powers approved upon conversion from 5/ 6 687 Commerce Guardian Bank, Toledo, Ohio first National Bank of Akron, Ohio, application for fiduciary powers approved upon conversion from First2/27 271 Central Trust Company, Akron, Ohio http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 89 Pages Conversions: (Continued) Tax advantages present when State bank is converted into national bank, proposed amendment to remove, Mr. Vardaman to advise ABA that Board would favor legislation that would also remove discrimination against member banks re capital requirements for banks operating branches 3/ 7 Union National Bank of East St. Louis, Illinois, application for fiduciary powers approved upon conversion from Union Trust Company of East St. Louis, 1/27 Cooper, Charles R., Regulation T, reply to inquiry sent to Con1/23 gressman Gearhart Corbett, H. S., invitation to visit with Board members and to 7/22 luncheon trip to Washington Colinell • of Economic Consumer credit, permanent authority of Board to regulate, report to President recommending, discussion by Chairman Eccles 4/11 Inflationary situation, report requested by President on 11/ 5 means for dealing with Survey re consumerspending plans requested by, to be undertaken by Board, advice to Chairman of Council 5/29 counsel, FRBanks: Conference to be called to convene in Washington in November, topics for agenda to be submitted to Mr. 7/22 Vest FRBank of Cleveland, employment of outside counsel to be discontinued after May 1, 1948, Bank to be advised at time of formal approval of 4/11 officers' salaries Outside counsel not to be employed after April 30, 1948 4/29 FRBank of Philadelphia, employment of outside counsel to be discontinued after May 1, 1948, Bank to be advised at time of formal approval of officers' 4/11 salaries Outside counsel not to be employed after April 30, 1948 4/29 MacCoy, Brittain, Evans and Lewis, FRBank of Philadelphia, retainer fee approved, outside counsel not 4/29 to be employed after April 30, 1948 Squire, Sanders and Dempsey, FRBank of Cleveland, payment of retainer fee approved, outside counsel not to be employed after April 30, 1948 4/29 Payment of fee for special services in connection with purchase of Chamber of Commerce Building, Cincinnati, Ohio, approved 10/17 ounsel, private: Garey, Kissam & Garey, retained by Mr. Stoddard in connection with threatened suit re amendment to Regu6/20 lation D http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 345 133 102 1091 549 1523 818 1088 554 657 554 655 655 657 1452 960 90 Pages C°11ilsel, special: Boston, Lyon, Special Attorney at FRBank of New York, salary 1/13 approved Cowan, J. Harding, Special Attorney at FRBank of New York, 1/13 salary approved Court cases: American Tobacco Co. v United States, reference in connection with question of anti-trust proceeding against 2/25 Transamerica Corporation American Tobacco case in relation to Transamerica matter, views of Secretary of the Treasury requested 4/15 Consumers Home Equipment Company and A. B. Chereton, violations of Regulation W, report of Mr. Townsend 4/ 8 on appeal in Cincinnati FRBank of Chicago, suit threatened by former employee of Detroit Branch, if filed answer to be delayed until after action by Congress on pending labor legislation 4/15 Suit threatened by former employee of Detroit Branch in connection with Fair labor Standards Act, Banks excepted under National Labor Relations 6/ 6 Act, discussion at Presidents Conference Suit filed in Detroit re Fair Labor Standards Act, Bank to proceed with case without defense that 7/ 2 Act does not apply to FRBanks Michigan National Bank of Lansing, Michigan, threatened suit re amendment to Regulation D, matter referred to Messrs. Clayton and Szymczak, Board to submit alternative actions to FRBanks and FAC, 6/20 Mr. Garey, Attorney, to be advised Suit re amendment to Regulation D, filing to be deferred pending further Board action re designation of reserve cities after next meetings of Presi7/ 2 dents and Federal Advisory Council Against Board to test amendment to Regulation D, men10/ 7 tioned at Presidents Conference Peoples Bank of Lakewood Village, California, position of member bank upheld by U. S. District Court of Appeals, case to be appealed to U. S. 4/15 Supreme Court Suit regarding condition of membership, statement to 4/22 be published in May issue Petition to Supreme Court to grant writ to review decision of Court of Appeals requested of Department of Justice, letter to Mr. George T. 5/12 Washington Issuance of writ of certiorari authorized by Department 5/13 of Justice Amendment to Regulation D to be deferred while case pend7/11 ing in courts http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 45 45 251 582 530 575 879 1005 960 1003 1383 580 617 706 719 1048 91 Pages Court cases: (Continued) Suit regarding removal of bank directors, statement to be 1/ 7 published in January issue of FRBulletin Transamerica Corporation, question of anti-trust proceeding against, letter to Attorney General Clark 2/25 requesting opinion re made be to investigation Act, of Clayton Applicability by legal Division before issuing complaint 10/31 and holding hearing United States v. Corrigan, et al., production of V-Loan application for guarantee by Navy Department of loan to Pollak Manufacturing Company in U. S. District Court authorized in case of, 6/ 2 advice to FRBank of New York Credit: Bank credit policies during inflation, joint statement to be issued by Federal and State bank supervisory agencies, to be revised by Mr. Clayton and to be discussed with Treasury representative before review with executive committee of . National Association of Supervisors of State 11/17 Banks Statement re, to be considered by Board while being reviewed by representative group of super11/21 visors of State Banks Joint statement by Federal and State bank supervisory 11/24 agencies issued, advice to FRBanks Joint statement issued, advice to FRBanks re distribu11/25 tion to banks in districts Control proposals, "Analysis of Credit Control Proposals," report accepted, further study desirable, discussion at Presidents Conference by Chair2/28 man Eccles re be to credit, bank of correct expansion to Controls, steps 10/31 discussed at meeting of FAC Regulation of consumer instalment credit and special reserve plan to be recommended to White 11/ 5 House by Chairman Eccles Telegram to FRBanks requesting information re situation 11/12 in each District Mr. Eccles to appear before Joint Committee on Economic Report and Banking and Currency Committees 11/17 joint hearings Statement of Mr. Eccles before Joint Committee on Economic Report re means of correction for monetary and credit situation during inflation, approved, copies to be sent to all banks in U. S. and to supervisors of 11/26 banks in all States http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 250 1504 833 1560 1606 1635 1639 283 1502 1522 1548 1559 1643 92 Pages Credit: (Continued) Expansion of bank credit, statement of FAC and reply of Chairman Eccles, discussion of special reserve plan and other means of correction, 11/18 statement of FAC to be revised by Chairman presentation revised and Statement of FAC Eccles requested at hearing before Joint Committee on Economic Report and Banking 11/18 and Currency Committees Draft of reply to statement submitted by FAC to be pre11/21 pared by staff of Board Reply to statement by FAC approved, copies to be sent to Joint Committee on the Economic Report, 11/26 FRBanks and FAC Joint statement issued re in 1942, discussion of instructions to be given to examiners for reports of examination of State member banks, letters to Messrs. Harl and Delano requesting 10/ 8 opinion of planned procedure National Advisory Council on Domestic Credit Extension, draft of bill prepared by Treasury to establish, Board not in favor of, Mr. Lynch General Counsel of Treasury, to be advised 12/15 S. 217, to continue authority of RFC for credit to small businesses, no report to be made by Board, Comptroller or Treasury re, discussion at 3/11 FAC Credit unions: Detroit Edison Employees Credit Union, applicability of Regulations T and U to credit for purchase of stock of Detroit Edison Company 4/ 1 Currency: Phillippine currency program, letter stating views of Board sent to Secretary of the Treasury after receipt of letter from Mr. Randolph Burgess 4/11 Protection for movements, discussion by FBI with ABA suggested, advice re discussion of question at 3/27 Conference Presidents ,.... all,vency shipments: Absorption of cost of shipments by banks to correspondent banks, letter to Mr. Davis on correspondence with United Bank and Trust Company of St. 1/30 Louis Absorption of cost by member bank for correspondent banks, letter to Mr. Davis 2/ 4 Member banks to correspondent banks, absorption of cost, letter on practice of United Bank and Trust 2/12 Co. of St. Louis Nonmember banks at request of member banks, letter to FRBank of Dallas on absorbing expenses by member 1/8 banks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1567 1592 1606 1659 1411 1747 383 495 560 470 150 171 204 )4 93 Pages Currey, C. B., Regulation 'if, reply to letter re sent to Congress5/28 man Springer Dean, Arthur H., Ten Year 3-1/2 per cent Sinking Fund External Loan Bonds of Kingdom of Norway, reply to 6/19 inquiry re Deaths: Owen, Robert L., former Senator and Chairman of Senate Banking and Currency Committee at time of passage of FRAct, floral tribute for funeral approved7/21 12/ 3 Ransom, Ronald, Vice President, telegram to Mr. Neely re Debt: Reduction of individual as restraint upon rising living costs, joint statement issued re, elimination from reports of examination of State member banks planned, opinion of FDIC and 10/ 8 Comptroller of the Currency requested Joint statement issued re, request that comments be included in reports of examination rescinded, 10/28 advice to FRBanks Debt public: Re gulation W, discussion at FAC meeting in connection with • 3/11 question of continuation of De corations: Grove, David L., from Ecuador for services, to be tendered 6/26 through State Department, advice re National Order of Merit, with rank of Officer, by Government of Ecuador, to be held in custody of 11/ 5 Department of State at present DePartment of Agriculture: Condition reports of State member banks, to be available to 9/16 FDIC for confidential use of no W, Regulation Farm Credit Administration, violations of objection to adoption of modified procedure 4/ it for checking compliance DePartment of the Army: Chase National Bank, New York, order authorizing establishment of branch at Frankfurt am Main, Germany, 10/21 advice to Secretary Royall De Partment of Commerce: Inflationary situation, Secretary Harriman requested by President to submit program to combat, plan 11/ 5 discussed at Board's offices S. 408, guarantees of business loans by FRBanks, letter of Mr. William C. Foster re merits, letter to 4/25 Senator Tobey on De partment of Justice: Farmers and Merchants Bank of Long Beach, California, transactions with Long Beach Federal Savings and Loan Association, determined by examination 2/ 5 not be to illegal, advice to http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 805 949 1082 1681 1411 1489 379 986 1527 1276 521 1468 1524 644 177 9)4 Pages Department of Justice: (Continued) 21 22222s Bank v. Marriner S. Eccles et al., petition to Supreme Court to grant writ to review decision of Court of Appeals requested of, letter to Mr. G. T. Washington 5/12 Peoples Bank of Lakewood Village case, issuance of writ of certiorari authorized by 5/13 Subversive persons in Federal service, information on employment or dismissal of Board personnel sent to Mr. Vanech 1/ 9 Transamerica Corporation, question of anti-trust proceeding against, letter to Attorney General Clark requesting opinion re 2/25 De of State: Letter to Bank for International Settlements from FRBank of New York, matter should be presented through Board of Governors 8/ 1 %)osits: Interest payment by Federal Home Loan Bank at Cincinnati and solicitation of transfer of funds from national bank, letter to Mr. Fahey 2/26 se 548, to insure bank deposits up to maximum of $15,000, Board not in favor of, advice to Senator Langer 4/17 Time, funds received by member bank pursuant to railroad equipment trust agreement, classification under Regulation Q, reply to inquiry from FRBank of Richmond 10/ 7 Tougia5 _, William, question of payment ofinterest on certificates that expired during war Dest 3/24 ruction of records: List submitted to National Archives for review 4/30 Material in files of Board on previously approved lists, destruction approved 1/15 0stroit Edison Employees Credit Union, applicability of Regulations T and U to credit for purchase of stock of Detroit Edison Company, advice to Mr. Allman 4/ 1 Chairmen, to be invited to dinner during Conference, December9 3 1-2, cost to be paid by Board /o Conferences of members of staff of Board and FRBanks, expenses not to be paid by Board 2/ 4 Expenses of FRBanks, to be included in general budgets 2/ 4 National Association of Supervisors of State Banks, annual meeting in Washington, invitation for luncheon or dinner to be extended if no objection by Chairman Eccles 4/23 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 706 719 27 250 1130 266 602 1375 454 665 66 495 1347 170 168 624 95 Pages Dinners: (Continued) National Association of Supervisors: (Continued) To be guests of Board at Mayflower Hotel on September 25, invitations to include Comptroller of the Currency, representatives from Treasury, and Board of FDIC, Messrs. Evans and Clayton to 6/20 make arrangements for To be guests of Board for dinner at Mayflower Hotel during annual conference, letter to Mr. Elmore 6/30 re Presidents and other guests to be invited for golf and dinner at Burning Tree Country Club, item in Board's 9/26 budget to be increased to cover cost Special gatherings at FRBanks or Branches for Board members or staff, regulations to reduce expenses, arrangements to require Board approval, ad3/20 vice to FRBanks Directors: FRBank of Atlanta: Neely, Frank H., Class CI reappointment for three-year term and redesignation as Chairman and FRAgent • 12/15 for 1948 12/15 Porter, J. F., Deputy Chairman, appointment for 1948 FRBank of Boston: Creighton, Albert M., Class CI ineligible for reappoint9/26 ment because of age Class C and Chairman and FRAgent, reappointment dis12/ 5 cussed because of ruling re age 70 Reappointment for three-year term and redesignation 12/15 as Chairman and FRAgent for 1948 David, Donald K., Deputy Chairman, appointment for 1948 12/15 12/31 Resignation accepted Hodgkinson, Harold D., Deputy Chairman, appointment for 12/30 1948 FRBank of Chicago: Avery, Clarence W., Class B, appointment considered for 2/ 7 Class C director and Chairman and FRAgent Class C and Chairman and FRAgent, to be appointed for unexpired portion of term if willing to accept, Mr. Hoffman to be asked to con2/21 fer with Appointment as Class C and designation as Chairman and FRAgent for unexpired portion of term 3/ 6 approved Appointment and designation approved for unexpired 3/ 6 portion of term, formerly Class B director Salaries of officers of FRBanks, invited with Mr. Young to discuss matter with Personnel 3/25 Committee Salaries of officers discussed at meeting with Personnel Committee 4/ 4 12/15 Redesignation for 19148 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 952 996 1330 428 1756 1757 1331 1694 1756 1757 1844 1841 186 240 339 339 460 512 1757 96 Pages Directors: (Continued) FRBank of Chicago: (Continued) Class C and Chairman and FRAgent, recommendations for appointment to be considered at future date 2/ 7 Hoffman, Paul G., Deputy Chairman, appointment for 1948 12/15 Kline, Allan, Class C, to be appointed for three-year '12/15 term if willing to accept approved 12/19 Appointment for three-year term FRBank of Cleveland: Baker, A. Z., Class C, reappointment, question to be 12/15 submitted later Reappointment recommended, but because of irregularity of attendance desirable to find other successor to Messrs. Klages and 12/17 Brainard Reappointment to be made if possible to improve attendance at meetings 12/19 Appointment for three-year term 12/22 Brainard, George C., Chairman, present at Board meeting to discuss purchase of Chamber of Commerce Building in Cincinnati 5/15 Chairman and FRAgent, redesignation for 1948 12/15 Class C, appointment in place of Mr. Baker, Personnel Committee to make recommendation 12/17 Klages, Reynold E., Deputy Chairman, appointment for 12/15 1948 Mellon National Bank and Trust Company and Farmers Deposit National Bank of Pittsburgh both eligible to vote in election of 9/26 Millsop, Thomas E., Class B, service to be discontinued at end of year because of election as Mayor 10/24 of City of Weirton, West Virginia Taft, Charles P., Class C, to be appointed for three12/17 year term if willing to accept Appointment not to be made because of political 12/19 activities FRBank of Dallas: Anderson, R. B., Deputy Chairman, appointment for 1948 12/15 Frierson, G. A., Class C, reappointment for three-year 12/15 term Parten, J. R., discharge of 39 employees at Bank, state2/11 ment re Chairman and FRAgent, personnel administration of Bank, to discuss matter with Personnel Committee of Board 4/11 Redesignation for 1948 12/15 FRBank of Kansas City: Caldwell, Robert B., Chairman and FRAgent, redesignation 12/15 for 1948 Mehornay, Robert L., Class C, reappointment for three12/15 year term 12/15 Deputy Chairman, appointment for 1948 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 186 1757 1756 1812 1754 1779 1806 1817 727 1757 1779 1757 1334 1478 1781 1806 1757 1756 194 551 1757 1757 1756 1757 97 Pages Directors: (Continued) FRBank of Minneapolis: 12/15 Cochran, W. D., Deputy Chairman, appointment for 1948 ear for three-y ntment reappoi C, Shepard, Roger B., Class term and redesignation as Chairman and FRAgent 12/15 for 1948 FRBank of New York: Class C and Chairman and FRAgent, recommendation for ap2/ 7 pointment to be considered at future date be to names nal additio re tion Class C vacancy, informa considered to be circulated before recom7/ 2 mendation by made be to vacancy fill to Class C, recommendation 12/15 Chairman Eccles as soon as possible for ment appoint n, Chairma Deputy I., William Myers, 12/15 1948 Page, Arthur Wilson, Class C and Chairman and FRAgent, to be appointed for unexpired portion of term if willing to accept, Chairman Eccles 2/21 to confer with in New York n Chairma by ion Question of acceptance, no discuss Eccles but indications of inability to accept because of connection with Chase National 7/ 2 Bank FRBank of Philadelphia: Balderston, C. Canby, Class C reappointment for three12/15 year term ing suggest letter to McCabe, Thomas B., Chairman, reply means for checking inflation, increased interest rates, etc., questions of policy 5/28 within jurisdiction of FOMC 12/15 for 1948 nation redesig , Chairman and FRAgent Whittier, Warren F., Deputy Chairman, appointment for 12/15 1948 FRBank of Richmond: Chatham, Richard Thurman, Class CI consideration for ap2/ 7 pointment el Class CI further recommendations to be made by Personn 2/ 7 Committee for future consideration threefor McCormick, Charles P., Class C, reappointment 12/15 year term 12/15 Deputy Chairman, appointment for 1948 if ed appoint Stettinius, Edward R., Jr., Class C, to be willing to accept, designation as Chairman and FRAgent following termination of Mr. 3/20 Wysorts term to be indicated term if of portion To be appointed for unexpired willing to accept and able to attend meetings, to be designated Chairman and FRAgent Jan. 1, 1948, or Jan. 1, 1949, pending talk of Chair4/11 man Eccles with Mr. Arysor http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1757 1756 186 1010 1755 1757 240 1010 1756 809 1757 1757 185 186 1756 1757 438 556 98 Pages Directors: (Continued) FRBank of Richmond: (Continued) Stettinius, Edward R., Jr.: (Continued) Appointment and Chairmanship to be discussed with Chairman Eccles further concerning question 5/13 of Mr. Wysorts term Appointment for unexpired portion of term, with no commitment as to designation as Chairman and FRAgent, press statement to be made by Board 7/ 2 ,Ilysor, W. G., discussion of redesignation as Chairman in connection with appointment of Mr. 5/13 Stettinius 12/15 Chairman and FRAgent, redesignation for 1948 FRBank of St. Louis: Brown, S. Toof, Class C, to be appointed for three-year term and to be appointed Deputy Chairman for 12/15 19h8 if willing to accept Dearmont, Russell L., Chairman and FRAgent, redesigna12/15 tion for 1948 Smith, Tom K., Class A, contribution to Jefferson National Memorial Association, question dis2/11 cussed with Chairman Eccles FRBank of San Francisco: Class B, election of, participation of Bank of America 9/29 N. T. & S. A., information to be requested 10%17 Determined to be ineligible Fees and allowances, those approved on Jan. 29, 1946, to be continued until adoption of new schedule 1/ 8 Grady, Henry F., Chairman and FRAgent, appointment as Ambassador to India, selection of successor 4/16 considered Resignation accepted, to become Ambassador to India, 4/22 letter of appreciation for services Wallace, William R., Jr., Class C, to be appointed for unexpired portion of term if willing to 9/26 accept 9/30 Appointment for unexpired portion of term approved 12/15 Reappointment for three-year term Wellman, Harry R., Deputy Chairman, appointment for 1948 12/15 Wilbur, Brayton, Chairman and FRAgent, designation to succeed Mr. Grady to be tendered if desirable to Chairman Eccles during visit to San 4/16 Francisco 5/ 2 Designation and salary approved 12/15 Redesignation for 1948 FRBanks: Appointments: Publishing business, persons engaged in not to be 12/15 appointed as Class 3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 716 1010 715 1757 175L 1757 198 1336 1451 22 587 615 1332 1349 1756 1757 588 675 1757 1758 99 Pages Directors: (Continued) FRBanks: (Continued) Biographical data, information re changes to be reported 10/14 to Board currently, advice to FRBanks Boards of, composition, topic not discussed at Presi2/28 dents Conference beginning terms for designation Chairmen and FRAgents, 12/15 January 1, 1948 Class C: Appointment not to be made of individual 70 years old or who would attain age 70 prior to expiration of term, reappointment not to be made if 70 or more, amendment to policy 12/ 5 approved 12/15 Appointments for terms beginning January 1, 1948 Appointment not to be made of individual 70 years old or who would attain age 70 prior to expiration of term, reappointment not to be 12/15 made if 70 or over, advice to FRBanks Deputy Chairmen, appointment for terms beginning January 12/15 1, 1948 first of Election of Class A or Class B, indication choice only sufficient if only two candidates, statement to be included on ballot, advice to 12/ 5 FRBanks requested FRBanks Fees and allmances, schedule approved, to send copy of schedule adopted by board of 2/ 7 directors at position Board's Fees, Presidents to be advised of 2/27 joint meeting differential allowances, and Schedule of maximum fees between head office and branch directors, dis2/28 cussion at Presidents Conference , discontinued be to to Board submission of, Photographs 3/10 advice to FRBanks to Governors, of Board to relations and Responsibilities 10/17 be discussed at Chairmen's Conference Statement of responsibilities and letter of transmittal approved by Board if no further changes 11/21 suggested at next Conference of Chairmen 11/21 Statement approved approved, Revised statement of responsibilities 12/19 copies to be sent to FRBanks Service, limitation on length, to be discussed at Chair10/17 men's Conference Dir ectors, FRBranch banks: Appointment not to be made of individual 70 years old or who would attain age 70 prior to expiration of term, reappointment not to be made if 70 or 12/ 5 more, amendment to policy approved 12/15 Advice to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1429 316 1753 1696 1753 1764 1753 1704 183 269 301 358 1443 1612 1612 1798 1443 1694 1764 Dire 100 Pages ctors, FRBranch banks: (Continued) Appointments: Publishing business, persons engaged in not to be ap12/15 pointed 12/15 Terms beginning January 1, 1948 Baltimore: 12/15 Shriver, James M., reappointment for three-year term Birmingham: Curry, John, continuance of service until expiration of 9/ 9 term approved 12/15 Faucett, J. Roy, to be appointed if willing to accept 12/19 Appointment for three-year term approved Holt, Thad, to be appointed for unexpired portion of term if willing to accept, after discussion of business connection, Mr. Vardaman to be 3/28 recorded as "not voting" i/31 Appointment for unexpired portion of term approved Buffalo: Brugler, Mercer, appointment to be made if willing to accept and to resign position as director of 12/17 mutual savings bank Business connections, discussion in connection with proposed appointment of Mr. Holt, manager of radio 3/28 station, at Birmingham Branch Charlotte: 12/31 Ebert, R. E., appointment for three-year term Peace, Roger, appointment not approved because engaged 12/15 in publishing business Cincinnati: 12/15 Blazer, Paul G., reappointment for three-year term Denver 12/15 Alexander, J. A., reappointment for two-year term Detroit. Brown, Prentiss M., resignation considered because of election as director of National Bank of Detroit, to continue service until expiration 7/18 of term at end of year 12/15 Marsh, Ben R., to be appointed if willing to accept 12/19 Appointment for two-year term approved El Paso: 12/15 Bogle, Hal, reappointment for three-year term Corbett, H. S., invitation to visit Board and to luncheon 7/22 while in Washington Election as director of national banks Prentiss M. Brown 7/18 to serve Detroit Branch until end of year Pees and allowances, schedule approved, FRBanks requested to send copy of schedule adopted by board of 2/ 7 directors Pees, schedule of maximum fees and allowances, differential between head office and branch directors, dis2/28 cussion at Presidents Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1758 1753 1759 1262 1759 1812 478 492 1780 478 1845 1758 1759 1759 1079 1760 1813 1759 1091 1077 183 301 Dire 101 Pages ctors, FRBranch banks: (Continued) Helena: Iz, tal= 12/15 Malcolm E., reappointment for two-year term Hous 12/15 Wheat, J. E., reappointment for three-year term Jacksonville: Bland, W. T., appointment for unexpired portion of term 3/10 approved Howell, Marshall F., to be appointed if willing to 12/15 accept 12/22 Appointment for three-year term Matherly, Walter J., Chairman, letter to Congressman Peterson re limitation on construction costs for branch banks, reply to 3/25 Little Rock: Resolution on retirement of Mr. A. F. Bailey 4/30 Los Angeles: 12/15 Freeman, Y. Frank, reappointment for two-year term Memphis: Moore, M. P., to be appointed if willing to accept 12/15 12/19 Appointment for three-year term approved Nashville: Brehm, C. E., to be appointed if willing to accept 12/15 12/19 Appointment for three-year term approved New Orleans: Batson, E. 0.1 appointment for unexpired portion of term approved 6/23 Chalkley, H. G., Jr., reappointment for three-year term 12/15 Oklahoma City: 12/15 Cotton, Cecil W., to be appointed if willing to accept 12/19 Appointment for two-year term approved Omaha: Seacrest, Joe X., appointment not approved because en12/15 gaged in publishing business Pittsburgh: 12/15 Koch, Josiah M., reappointment for three-year term and director Swarts, T. C., no objection to service as 11/12 as member of State Banking Board Portland: 12/15 Frank, Aaron M., reappointment for two-year term Salt Lake City: 12/15 Dixon, Henry A., reappointment for two-year term San Antonio: Hale, Edward E., appointment for three-year term to be made if willing to accept 12/19 12/23 Appointment for three-year term approved 4scounts: Participation certificates, discount under Section 13b for Fulton National Bank, rate of one per cent on purchases approved for FRBank of Atlanta 11/18 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1759 1759 358 1759 1818 465 66o 1759 1760 1813 1760 1812 968 1759 1760 1813 1758 1759 1545 1759 1759 1805 1823 1592 102 Pages Dividends: 972 6/23 FRBanks, semiannual payment for first half of 1947 approved 12/29 1838 Semiannual payment for last half of 1947 authorized Rate on FRBank stock, topic not discussed at Presidents Con316 2/28 ference Dollar exchange: Bank of America N.T. & S.A., granted permission to accept drafts or bills of exchange for purpose of 6/13 912 furnishing Drafts: Federal Reserve exchange, limitation removed, action of Presi4/15 584 dents Conference apnroved Removal of $50,000 limit, notification of permission to issue to be continued, future changes to be considered by Committee on Operations, advice 7/10 1037 to FRBank of Cleveland Dudley 4atson S., Regulation T, withdrawal of cash from margin account on sale of securities to pay income 15 1/7 tax, not permitted by Dune A. E., consumer credit statistics in advertisement of American Instalment Credit Corporation, in451 3/24 vestigation to be made re, reply to letter Earnings, FRBanks: Accrual, adoption of uniform basis, views of Presidents re584 4/15 quested re plan 6/19 , Uniform basis, procedure approved, advice to FRBanks 948 r4ccess, interest rate to be paid Treasury on FRnotes to 168 2/ 4 absorb, Mr. Eccles to discuss with Treasury certifigold by secured not FRnotes on charge Interest cates, proposed means of channeling earnings to Treasury, discussion at Presidents Confer310 2/28 ence Interest rate on FRnotes proposed as means of transferring 4/11 558 to Treasury Department Interest rate on FRnotes to be paid by FRBanks, establish618 4/23 ment approved to make payment to Treasury reimbursement Fiscal agency operations, performance without proposed as means of channeling earnings to 310 Treasury, discussion at Presidents Conference 2/28 Franchise tax, restoration of, or other means of channeling excess earnings to Treasury, Presidents to be 269 advised of Boardts position at joint meeting 2/27 Bank Reserve earnings Restoration proposed for channeling to Treasury, discussion at Presidents Confer2/28 310 ence of discussion PaYment of portion of earnings to Treasury, various methods at Presidents Conference, 310 2/28 no conclusions reached before House Bankhearings Discussion in connection with ing and Currency Committee of H. R. 2233, no conclusions reached 3/ 7 348 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 103 Pages EaPilings and dividends: FR 107b, forms and instructions sent to FRBanks for semi6/9 annual report 12/ 9 FR 107, forms to be sent to FRBanks for 1947 report 12/29 FRBanks for 1947 items certain of Reports for first half of 1947, amounts 9/10 requested from FRBanks deand in reported be Reserves for bad debts on loans, to ducted from loans in condition reports, ad12/26 vice to FRBanks Ecuador: Grove, David L., Economist, mission approved, instructions re 3/ 7 6/13 Extension of stay authorized State through tendered be to services, for Decoration 6/26 Department, advice re 8/20 of Government to consultant as work re Statement Granted National Order of Merit, with rank of Officer, by Government of, decoration to be held in 11/ 5 custody of Department of State at present Educational expenses, no objection to exterision of employees' loan fund at FRBank of Richmond to employees 9/10 for Edwards, R. Stafford, Regulation ;11 reply to letter re elimination of and removal of certain articles from list 1/9 El Salvador: Study of fiscal system, request for services of Messrs. Musgrave and Grove for, not approved, but Mr. Wallich to visit on return trip from South 5/19 America, advice to Mr. V. Manuel Valdel Request for services of Messrs. Musgrave and Grove in connection with fiscal reform program, not possible 8/ 4 to grant Elevators: FRBank of Chicago, no objection to plans for modernizing when 2/20 building conditions improve Ellender, Senator Allen J., removal of limitation on cost of 3/25 FRBranch buildings, letter re sent to 1111310Yees of Board separated by reduction in force, report sent to House Committee on Post Office and Civil 2/26 Service , (See also Staff of Board) 4%aminations: Annapolis Bank and Trust Company, Annapolis, Md., information in report of examination desired by Treasury Intelligence Unit, request to be submitted in 2/25 acoordance with approved procedure Assistance to Board's examiners by examiners of FRBank of Richmond in examination of FRBank of New York, 9/ 2 voucher approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 894 1728 1838 1267 1835 341 909 986 1205 1527 1265 30 744 1132 233 466 262 254 1244 1011 Pages Examinations: (Continued) Bank examination policy and coordination of Federal Reserve examination and supervision policies throughout System, statement of Mr. Leonard submitted to Presidents for study before joint meet6/ 3 ing with Board Discussion at Presidents Conference, Presidents committee 6/ 6 to confer with Board re Bank of Chestnut, Illinois, permission granted to FDIC to examine for continuance of insurance after 12/11 withdrawal from membership in FRSystem Chase Bank, New York, N. Y.: Meyer, Harry J., appointed examiner of Board to participate in examination of Chase Bank, New York, 9/30 N. Y. 11/12 Report, copy forwarded to bank uommercial State Bank, Sinton, Texas, permission granted to FDIC to examine for continuance of insurance after withdrawal from membership in FRSystem 8/21 Cranford Trust Company, Cranford, New Jersey, permission granted to FDIC to examine for continuance of insur6/23 ance after withdrawal from FRSystem Farmers and Merchants Bank of Long Beach, California, transactions re Long Beach Federal Savings and Loan Association, determined not to be illegal, advice to Department of Justice 2/ 5 FRBank of Atlanta, copy of report left for information of 6/11 Chairman and directors, comments requested PRBank of Cleveland, copy of report left for information of 8/ 8 Chairman and directors, comments requested Schofield, G. i., payment in connection with and reimbursement to FRBank of New York for traveling 6/25 expenses approved FRBank of Dallas, copy of report left for information of Chairman and directors, comments requested, advice )-m/ 1 FRre personnel situation also desired Bank of Kansas City, copy of report left for information of 4/23 ilc: i .airman and directors, comments requested Rpank of New Assistance by examiners of FRBank of Richmond in, payment 9/ 2 of voucher approved Discussion of manner of conducting investigation of recent defalcation and of per diem payments to former Asst. Vice President serving as assistant to Secretary of Treasury, not to be discussed at Chairmen's Conference and not to be taken up 11/26 with FRBanks Report considered, suggestions of Board re investigation conducted in recent defalcation in Clearings Division, and per diem payments to Mr. Overby while serving as Assistant to Secretary of the Treasury 10/21 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 836 884 (See Files 1348 1546 1208 969 177 903 1161 983 497 629 1244 1671 1170 105 Pages Examinations: (Continued) FRBank of Philadelphia, copy of report left for information of Chairman and directors, comments requested 1/22 FRBank of Richmond, copy of report left for information of Chairman and directors, comments requested 2/24 Copy of report left for information of Chairman and directors, comments requested 11/25 FRBank of San Francisco, copy of report left for information of Chairman and directors, comments requested 1/15 FRBanks: Assistance in examination of FRBank of Cleveland by Mr. G. 7. Schofield, member of auditing staff of FRBank of New York, payment and reimbursement to Bank for traveling expenses approved 6/25 Mr. Leonard authorized and directed to conduct for 1948 12/15 Scope of work performed at each FRBank discussed in connection with adoption of budget 3/28 First Bank Stock Corporation, Minneapolis, Minn., report, copy to be furnished to Mr. Beatty, District Chief National Bank Examiner, for confidential, information and use 10/10 Ge neral Accounting Office, request to FDIC for permission to examine reports of 28 insured banks, Messrs. Leonard and Townsend to discuss matter with FDIC and Comptroller of the Currency 1/17 Mr. Vardaman to meet with Comptroller of the Currency, Chairman of FDIC, Comptroller General, and representative of Treasury Department to discuss, reports of State member banks to be available under same terms as national bank reports by FDIC if necessary 1/27 Reports of State member banks to be available for examination under same terms as national bank reports by FDIC, advice to FDIC, prior to conference re 2/L Availability of reports in connection with audit of FDIC, discussion with Mr. Newman, arrangements for meeting with Treasury, Comptroller, and FDIC not completed 2/21 Holding company affiliates by Commissioner of Banks of Massachusetts, FRBank of Boston authorized to furnish information re Baystate Corporation and Shawmut Corporation, information from reports of examination of national banks to be obtained from Comptroller of the Currency or District Chief National Bank Examiner in Boston 7/10 Joint statements by bank supervisory agencies re examination and supervisory policy re investment in and loans on Government securities, no action as to further statement to be taken by Board 7/ 2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 99 248 1641 66 983 1766 474 1422 74 117 171 241 1036 1011 106 Pages Exand-nations: (Continued) Member banks, policy with respect to loans, statement should be issued by bank supervisory authorities 2/28 National banks, report that examiners were putting on pressure to write off premiums on Government 12/19 bonds Cttoville Bank Company, Ottoville, Ohio, permission granted to FDIC to examine for continuance of insurance after withdrawal from FRSystem 7/ 2 RFC-Custody Divisions of FRBanks and branches, regular examinations by RFC to be discontinued, no objec9/ 9 tion Reports: Availability to GAO for examination of 28 insured banks, Messrs. Leonard and Townsend to discuss matter1/17 with FDIC and Comptroller of the Currency Mr. Vardaman to meet with Comptroller of the Currency, Chairman of FDIC, Comptroller General, and representative of Treasury Department to discuss, reports of State member banks to be available under same terms as national bank reports by FDIC if necessary 1/27 Availability to GAO for examination of insured banks, reports of State member banks to be available under same terms as national bank reports by FDIC, advice to FDIC, prior to conference re 2/ 4 Availability to Government agencies, requests to be submitted in accordance with approved procedure, discussed in connection with request of Treasury Intelligence Unit for information from report of examination of Annapolis Bank and Trust 2/25 Company, Annapolis, Md. the of Comptroller advice to FDIC Policy re, and 3/17 Currency Availability to General Accounting Office of reports of five State member banks in connection with current review of FDIC operations, no objection on same basis as earlier reports, but not to be 11/17 used for new review Bank Shares Incorporated, Minneapolis, Minn., copy of report to be furnished to Mr. Beatty, District Chief National Bank Examiner for confidential 7/18 information and use Information re trust assets to be furnished to Mr. Stephenson, ABA, advice to FRBanks 12/24 Loan data available from, discussion at joint conference, copies of "Suggestions for improving statistical information on Bank Loans" sent to FRBanks for comments and suggestions 9/ 8 National banks, recommendations of Conference of Examiners re analysis approved, advice to FRBanks 11/20 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 292 1804 1017 1263 . 74 117 171 254 414 1562 1078 1828 1259 1603 107 Pages nations: (Continued) Reports: (Continued) State member banks: Government securities, investments in and loans on, joint statement issued in 1942 re, no instructions to be issued to examiners, opinion of ilDIC and Comptroller requested Inventories of consumer goods, accumulation of, statement of Chairman Eccles in 1942 re, elimination from, opinions of FDIC and Comptroller requested Advice to FRBanks Joint statement re reduction of individual debt, elimination planned, opinions of FDIC and Comptroller of the Currency requested Elimination, advice to FRBanks Treasury bonds, Investment Series A 1965, to be valued at par Seattle and Portland Branches, loan of services of Examiners, FRBank of Minneapolis, payment of excess travel expenses approved State Bank of Blue Island, Illinois, permission granted to FDIC to examine for continuation of insurance after withdrawal from FRSystem Transamerica Corporation: Report, statement re readily marketable assets, information to be requested Board of Governors: ?),-Lrtz, Charles H., FRExaminer, salary inc:re&sed (3ggs, James R., Assistant FRExaminer, appointment and salary approved Resignation accepted t 11gg, Lawrence H., Asst. FRExaminer, salary increased , , John F., Asst. FRExaminer, salary increased °°key R. W., Assistant FRExaminer, change in headquarters approved Don 6, Frederick, AsA. FRExaminer, salary increased -age, Leonard P., appointment as Assistant FRExaminer and salary approved Pisler, for one James V., Assistant FRExaminer, appointment year and salary approved art, John J., Asst. FRExaminer, salary increased ighfield, C. R., FRExaminer, salary increased ' Resignation of °wan, Conrad K., Assistant FRExaminer, appointment and salary approved Ir°ns, David B., Asst. FRExaminer, salary increased x Resignation accepted increased ellYon, Kenneth A., Asst. FRExaminer, salary for expenses reimbursed be to and pay Granted leave with of Banking School Graduate at attendance for Xiley, John N., Jr., Asst. FRExaminer, salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10/8 1411 lo/8 1411 10/28 1489 10/8 10/28 1411 1489 9/17 1279 12/12 1745 7/17 1064 11/12 1547 4/28 648 2/11 9/17 1/28 200 1278 139 9/5 1251 4/24 1/28 630 139 4/10 542 3/29 439 4/28 648 9/5 1251 11/25 1638 12/26 1830 1/28 139 9/23 1315 1/28 139 1/30 146 9/5 1251 Examiners, Board of Governors: (Continued) 108 Pages Lang, Arthur H., FRExaminer, salary increased 9/ 5 Lassen, W. B., appointment as Assistant FRExaminer and salary 4/18 approved Malone, Charles To, FRExaminer, request for leave without pay to accept position to serve with occupation forces in Japan, not approved 4/23 Resignation accepted 4/26 McGeary, James E., Assistant FRExaminer, appointment and 1/17 salary approved Salary increased 9/ 5 Meyer, Harry J., appointed examiner to participate in exami9/30 nation of The Chase Bank, New York, N. Y. Murff, Gordon R., FRExaminer, assignment as examiner in charge 1/21 of road force and salary increase approved Schoenhoff, Robert, Asst. FRExaminer, salary increased 1/28 Schumacher, V. P., Assistant FRExaminer, resignation accepted 3/13 Smith, Carl A., Asst. FRExaminer, salary increased 4/28 Smith, William D., appointment as examiner on temporary basis 6/11 and salary approved Troup, Fred W., FRExaminer, salary increased 4/28 ailliams, George, Asst. FRExaminer, salary increased 4/28 Williams, Jay W., Asst. FRExaminer, appointment and salary approved 6/19 Zidek, Louis W., Asst. FRExaminer, salary increased 1/28 Resignation accepted 5/12 E ,. Appointment and salary approved 8/ 1 FRBank of Atlanta: Assistant, exemption under Fair Labor Standards Act, question raised re, advice requested from FRBanks re 12/ 5 procedure to be followed by Board Crowe, Vestus L., designation as special assistant examiner 3/18 Denmark, J. E., appointment as examiner approved and designation as officer in charge of Bank Examinations 5/16 Department approved Doss, Thomas E., Jr., appointment as assistant examiner approved, indebtedness to national bank to be 2/ 5 eliminated Hardin J. L., appointment as assistant examiner and salary 2/20 approved 6/19 Appointment as assistant examiner approved Appointment as examiner approved, formerly assistant 12/11 examiner King, Griffin Lewis, appointment as assistant examiner approved, indebtedness to Bank of Camden, Tenn., nonmember bank, to be liquidated 10/24 Mobley, Thomas High, appointment as assistant examiner 8/11 approved Onens, Charles D., appointment as assistant examiner approved 3/21 ;album, Adolphus D., assistant examiner, salary approved 4/2)4 Appointment as examiner approved, formerly assistant examiner http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1251 605 625 646 84 1251 1348 93 139 397 648 902 648 648 941 139 702 1127 1705 420 738 176 227 943 1734 1479 1163 44h 630 8/ 4 1133 109 Pages Examiners, FRBank of Boston: Bullen, Richard C., designation as special assistant 11/ 3 examiner Gittins, ailliam Clifford, designation as special assistant 11/10 examiner approved Gramstorff, C. Herman, designation as special assistant ex11/ 3 aminer Lacks, Stanley B., designation as special assistant examiner 11/ 3 Latham, Earle 0.1 appointment and designation as officer in charge of Bank Examinations Department 5/ 9 Martin, Edward Wright, appointment as assistant examiner 6/10 approved Nye, Loring C., designation as special assistant examiner 11/18 Smiles, Archie C., designation as special assistant examiner 4/16 _ 12/31 Appointment as assistant examiner approved t, wells, George E., designation as special assistant examiner 11/ 3 zxaminers, FRBank of Chicago: Carter, Charles L., designation as special assistant examiner 7/ 9 approved 12/22 Appointment as assistant examiner approved o t Neill, Hugh, designation as special assistant examiner approved 8/28 Reilly, Charles Henry, Jr., designation as special assistant examiner approved 8/25 Appointment as assistant examiner approved 12/22 Sorg, Robert E., appointment as examiner approved, formerly 6/ 3 assistant examiner Spaeth) Carl F., Jr., designation as special assistant 10/24 examiner Wells, alter N., appointment as examiner approved, formerly 6/ 3 assistant examiner 4anliners, FRBank of Cleveland: Coleman, Kenneth S., appointment as assistant examiner 3/10 approved Coulter, William Alexander, appointment as assistant examiner 5/ 8 approved 1/30 Gottschalk, Ray, designation as special assistant examiner Holl, Carl E., designation as special assistant examiner 1/30 Kegerreis, Robert J., designation as special assistant 1/30 examiner May, Willard S., designation as special assistant examiner 1/30 examiner assistant 1/30 Miller, Elfer E., designation as special Plagman, Alvin Chester, appointment as assistant examiner 5/ 8 approved Schellenberger, Walter, designation as special assistant 1/30 examiner Ex„. aners, FRBank of Dallas: 13ain, Travis Whitsett, appointment as assistant examiner approved 6/ 4 12/11 Appointment as examiner, formerly assistant examiner http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1517 1541 1517 1517 697 898 1592 593 1844 1517 1029 1818 1228 1212 1818 836 1479 836 358 691 146 146 146 146 146 691 146 846 1735 110 Pages Examiners, FRBank of Dallas: (Continued) Clayton, Howard, designation as special assistant examiner 4/ 7 Gillespie, Marvin Earnest, appointment as assistant examiner approved 6/11 Quisenberry, Roy Mims, appointment as assistant examiner approved 12/30 Rodgers, Samuel Andrew, designation as special assistant examiner approved 6/ 4 Appointment as assistant examiner approved 12/26 Schumacher, Victor Peter, appointment as examiner approved 3/13 Simmons, James Pat, assistant examiner, appointment approved 7/ 1 Zimmerman, Robert Elkin, appointment as assistant examiner 1/29 approved Examiners, FRBank of Kansas City: Brown, Lewis A., designation as special assistant examiner 1/17 Copeland, Edward L., designation as special assistant 1/17 examiner Fogle, William C., designation as special assistant examiner 1/17 Poister, Clarence Emerson, appointment approved 3/25 Screechfield, Elmer L., appointment as assistant examiner approved 12/ 9 Steffens, Harry Thomas, reappointment as assistant examiner approved 5/14 Tawson, Lawrence d., designation as special assistant examiner 1/17 E . xarniners, FRBank of Minneapolis: Burke, Charles H., designation as special assistant examiner approved 7/ 9 Johnson, Robert C., designation as special assistant examiner 12/ 5 Loan of services to Board for examinations of Seattle and Portland Branches, payment of voucher for excess amount for travel expenses approved 12/12 McConnell, H. G., appointment as examiner and designation as officer in charge of Bank Examination Depart5/ 1 ment and salary approved 11/10 McNulty, Arthur J., appointment as examiner approved, formerly assistant examiner Rockwell, George M., designation as special assistant examiner approved t, VanderHorck, Karl, salary noted without objection 1 3/: 'anliners/ FRBank of New York: Armbruster, John P., designation as special assistant examiner 8/ 4 Eaton, Charles, designation as special assistant examiner 8/ 4 Appointment as assistant examiner approved 9/ 9 Emond, Eugene P., designation as special assistant examiner 8/ 4 Gordon, Joseph P., designation as special assistant examiner 8/ 4 Holland, ailliam F., appointment as examiner approved 1/ 9 Kirmss, Alfred, appointment as assistant examiner approved 1/ 9 Mahn, Edward B., appointment as examiner approved 1/ 9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 522 903 1842 847 1832 398 1000 140 86 86 86 463 1728 725 86 1031 1704 1745 670 1541 T9 7 1133 1133 1261 1133 1133 29 29 29 111 Pages Examiners, FRBank of New York: (Continued) McGee, Eugene M., designation as special assistant examiner 8/ h Appointment as assistant examiner approved Mittricker, Franklin F., Jr., designation as special assistant9/ 9 8/ 4 examiner 1/ 9 Piderit, Fred W., Jr., appointment as examiner approved Raubenheimer, gallace 0., designation as special assistant 8/ 4 examiner lard, Francis T., Jr., appointment as assistant examiner 1/ 9 approved Worsnopp, Fred S., appointment as assistant examiner approved 1/ 9 gulff, Daniel E., appointment as assistant examiner approved, FHA mortgage to be placed with someone other than First National Bank of Freehold, New 11/13 Jersey • ExoliTh.ners, FRBank of Philadelphia: Beck, Edward G., designation as special assistant examiner 4/ 4 Berstein, Jack A., designation as special assistant examiner 10/ 8 Bowman, Cyril J., designation as special assistant examiner 10/ 8 Brutschea, Francis J., designation as special assistant ex10/ 8 aminer Deckert, George W., designation as special assistant examiner 4/ 4 Ferguson, Robert R., designation as special assistant 10/ 8 examiner cunsser, William A., appointment as examiner approved 1/31 erlin, Quintin G., designation as special assistant examiner 4/ 4 h/ 4 O'Grady, John J., designation as special assistant examiner Robinson, D. Patrick M., designation as special assistant 10/ 8 examiner approved 3/ 4 Sink, John M., Jr., appointment as examiner Staats, Robert F., designation as special assistant examiner 4/ 4 Teal, J. Richard, designation as special assistant examiner . 4/ It Touhill, Rollin S., designation as special assistant examiner 4/ It an Sant, Albert J., designation as special assistant examiner4/ 4 Aalaners, FRBank of Richmond: Assistanoeto Board's examiners in examination of FRBank of New 9/ 2 York, payment of voucher approved for minimum below salary Trust Examiner, Asst. T., P. CreerY, 12/29 approved for temporary period ID Samuel A., designation as special assistant examiner12/ 3 11sworth, Jesse H., designation as special assistant 4/22 examiner approved Hughes, Douglas T., appointment as assistant examiner 12/11 approved Marshall, Ellwood P., designation as special assistant 2/24 examiner 6/19 Meador, Veron J., assistant examiner, appointment approved Mills, U. H., salary below minimum approved for temporary 12/29 period Ncsker, John L., appointment as examiner approved, formerly 12/24 assistant examiner Y http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1133 1261 1133 29 1133 29 29 1552 519 1408 1408 1408 519 1408 154 519 519 14o8 326 519 519 519 519 1244 1837 1682 615 1734 245 942 1837 1827 112 Pages Examiners, FRBank of Richmond: (Continued) Robinson, Norman F., Jr., designation as special assistant 2/24 examiner Shelburne, Clarence D., appointment as examiner approved, 12/24 formerly assistant examiner Turner, J. Gillette, designation as special assistant 11/28 examiner Examiners, FRBank of St. Louis: Archer, 4illiam Howard, appointment as assistant examiner 6/25 approved 4 , rnAJlers, FRBank of San Francisco: Aamodt, John N., appointment as assistant examiner approved, no objection to indebtedness to Bothell State Bank, Bothell, Wash., for loans to make im6/25 provements to home Bishop, E. S., designation as special assistant examiner 12/26 i IBrennan, 12/16 Robert M., appointment as examiner approved 7/ 2 armon, Myron J., designation as special assistant examiner 12/26 i_olman, A. G., designation as special assistant examiner iCellY, Douglas C., appointment as assistant examiner approved, 9/16 no indebtedness to banks permissible Morris, • John c., Jr., appointment as assistant examiner 7/24 approved Staricco, John D., designation as special assistant examiner 7/ 2 Vandermark, John, Jr., assistant examiner, appointment approved 3/ 3 Examiners, FRBanks: Assistant, exemption under Fair Labor Standards Act, question raised by FRBank of Atlanta, advice requested from FRBanks re procedure to be followed by 12/ 5 Board in case and 23, Washington September 22, Conference to be held in 8/ 1 26, names of representatives requested Travel expenses, reimbursement, discussion at Presidents Conference, problem to be studied by personnel officers of Banks and Board's staff and report submitted 10 6 ) / /17 Information for period of one year to be compiled by Vice President in charge of examinations, to be responsible directly to president of bank, letter to Mr. McLarin in connection with designation of Mr. 5/16 Denmark 4and-ners, FRBranch banks: Baltimore: Botorek, L. P., designation as special assistant exam1/13 iner 1/13 Crow", I. J., designation as special assistant examiner Eokels, N. L., designation as special assistant examiner 1/13 1/13 Enos, D. R., designation as special assistant examiner assistant ]/13 special examiner Gray, I. J., designation as Jones, E. R., Jr., designation as special assistant ex1/13 aminer http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 245 1827 1675 981 981 1832 1769 1015 1832 1276 1098 1015 321 1706 1130 886 738 46 46 46 46 46 46 113 Pages Examiners, FRBranch banks: (Continued) Baltimore: (Continued) Orem, J. S., designation as special assistant examiner 1/13 Ritter, H. F., designation as special assistant examiner 1/13 Rodey, E. H., designation as special assistant examiner 1/13 Sperry, C. S., designation as special assistant examiner 1/13 priggs, J. W., designation as special assistant examiner 1/13 Jalter, a. E., designation as special assistant examiner 1/13 Whitaker, R. E., designation as special assistant examiner 1/13 Charlotte: Bagby, T. Viesley, designation as special assistant examiner 4/30 Clark, Franklin S., designation as special assistant examiner 4/30 Drumheller, William B., designation as special assistant examiner 4/30 Gilliam, Paul D., designation as special assistant examiner LI/30 Keller, jinfred J., designation as special assistant • examiner 4/30 Krueger, Fred C., Jr., designation as special assistant examiner 4/30 Otten, Harry J., designation as special assistant examiner 4/30 Parks, Joseph G., designation as special assistant examiner 4/30 Smith, Raymond R., designation as special assistant examiner 4/30 Yeager, Herman C., designation as special assistant examiner 4/30 El Paso: Frazer, C. Hadley, designation as special assistant examiner 7/28 Los AnReles: Jennings, A. F., designation as special assistant examiner 12/26 Vigus, V. E., redesignation as special assistant examiner approved upon return from military leave 7/ 2 N ashville: Campbell, M. C., designation as special assistant examiner 9/ 8 Davis, 0. E., designation as special assistant examiner approved 9/ 8 Newson, R. C., designation as special assistant examiner approved 9/ 8 New Orleans: cNamara 3 Bernard T., designation as special assistant examiner approved 7/ 2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 46 46 46 46 46 46 46 660 b6o 660 b6o 660 66o 660 b6o 660 66o 1105 1833 1015 1257 1257 1257 1015 114 Pages Examiners, FRBranch banks: (Continued) Portland: Evans, G. L., designation as special assistant examiner 12/26 Farrell, J. E., designation as special assistant examinor 12/26 Gannett, G. C., designation as special assistant examiner 12/26 Looker, W. H., designation as special assistant examiner 12/26 Salt Lake City: Grundvig, L. C., designation as special assistant exami12/26 ner Hallstrom, A. L., designation as special assistant exami12/26 ner Harwood, G. C., designation as special assistant exami12/26 ner San Antonio: Rodgers, Ralph, designation as special assistant examiner 7/28 Examiners, national banks: Examination report of Bank Shares Incorporated, Minneapolis, Minn., to be furnished to 7/18 Examination report of First Bank Stock Corporation, Minneapolis, Minn., copy to be furnished to 10/10 Government bonds, pressure on bank3 to write off premiums on, effect on sale of bonds in market, Mr. Clayton to study matter and make recommendation 12/19 Exec utive orders: Consumer credit, bill H. R. 2542 by Congressman Hagen to invalidate, reply to request for views on 4/ 4 O. 8843, consumer credit regulation, question of exemption from S. J. Res. 123, to terminate war time legislation, advice requested in letter to 6/10 Attorney General Regulation W, President not to take action re until action of Congress determined, statement of Chairman 7/18 Eccles No. 8843, consumer credit regulation, continuance desirable, 12/12 letter to Attorney General Clark Perises, Board of Governors: Cafeteria, authority to use not over $50 to purchase food 6/26 from farmers market or other places Telephone service, electric light and power, and steam, to be charged to budget of Division of Administrative Services, beginning with 1948 lo/3a Charges, matters to be referred by Division of Administrative Services to Personnel Committee 3/2o Dinners in connection with conferences of staff members of Board and FRBanks, not to be paid by Board 2/ 4 Floral tribute for funeral of Robert L. Owen approved 7/21 Reduction of, amendments to travel regulations, use of Board's automobiles, messenger service, etc., approved in connection with 3/20 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1832 1832 1832 1832 1832 1832 1832 1105 1079 1422 1804 520 900 1065 1744 987 1515 429 170 1082 425 115 Pages ExPenses, Board of Governors: (Continued) Reserve Board Club: Library, contribution of $100 per month approved for 10/ 6 attendant in Expenses, FRBank of St. Louis: Disposition of expenditures in connection with rehabilitation of adjacent property approved, instructions 3/14 re Expenses, FRBaks: n Budget procedure to be developed, discussion of plans, Presidents Committee on Operations to work with 2/28 Board's staff Presiat discussed Cafeteria, absorption of expenses, to be 2/ dents Conference in incurred to fiscal agency units for expenses "service units" of revised functional expense manual, discontinuance, to be discussed at 4/23 next Presidents Conference Fiscal agency operations, absorption of more costs, discussion 2/ 4 to be continued at Presidents Conference Greater absorption by FRBanks, Chairman Eccles to discuss 2/ 4 question with Treasury Absorption of greater portion by FRBanks, to be discussed with Presidents before review with Treasury 2/11 Department Absorption by FRBanks, question of submission for consideration by Presidents Conference, Mr. Smead to discuss matter with Presidents Conference 2/21 Committee Functional expense accounting, Presidents to be advised of 2/27 Board's position at joint meeting Revised manual of instructions, to be effective July 1, 3/14 1947 instead of April 1 be to Revision of FR 6314 and manual to be made, reports submitted monthly for present, discussion at 2/28 Presidents Conference Luncheons, dinners, entertainment, etc., information to be in2/ 4 cluded in general budgets or members Board for Regulations to reduce, arrangements 3/20 staff to require Board approval Presidents to be advised of Board's position at joint meeting 2/27 Reimbursement for expense of "service units", continuation of policy, recommendation of Presidents Conference approved unless amounts requested by Treasury 6/ 6 become controversial should Exbe Government: F,I, Reduction in, discussion at meeting of FAC with Board 3/11 -ileY, John H.: ' Federal Home Loan Bank at Cincinnati, solicitation of transfer of funds from national bank and payment of 2/26 interest on deposits by, comments requested http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1372 404 296 169 625 167 168 198 240 269 406 273 168 428 269 867 385 266 116 Pages Pair Labor Standards Act: Exempt employees under, threatened suit against FRBank of Chicago by former employee of Detroit Branch, if filed answer to be delayed until after action by Congress or pending legislation 4/15 Federal Advisory Council: Bank holding company legislation, advice re general attitude 2/11 toward requested Opinions to be given by May meeting, statement of Chairman 3/1J Eccles re status of bill S. 829, discussion of proposed amendments suggested by Council and Association of Reserve City Bankers, resolution stating views for use at hear5/20 ings to be considered at separate meeting Passage of S.829 favored by, review of legislative situa9/23 tion by Chairman Eccles Present status reviewed by Chairman Eccles at meeting with Board 11/18 Check collection system, changes in, discussion of, FAC opposed to giving of immediate credit on all items, no change to be made before expression of views by banks 11/18 Classification of banks in preventive strike legislation, discussion, no action to be taken 3/11 C nsumer credit, authority of Board to regulate, views requested before next meeting 2/11 Continuation of Board's authority to regulate, opposition to, discussion at meeting with Board 3/11 C°rrespondent bank relationships, discussion by Board of matters affecting, desired before action, discussion in connection with reimbursement of member banks for postage and other transpor9/23 tation costs Credit, expansion of bank, statement revised and presentation by Chairman Eccles requested at hearing before Joint Committee on Economic Report and 11/18 Banking and Currency Committees Statement re and reply of Chairman Eccles, discussion of special reserve plan and other means of 11/18 correction, statement to be revised Statement submitted by, draft of reply to be prepared 11/21 by staff of Board Reply to statement approved, copies to be sent to Joint Committee on Economic Report, FRBanks and 11/26 FAC Designation of reserve cities, threatened suit by Mr. Stoddard, alternative actions to be submitted to fg Proposal to be submitted to Differential margin requirements, opposition to, discussion at meeting with Board 3/11 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 576 203 385 760 1313 1590 1586 369 202 378 1297 1591 1567 1606 1659 1 19: 375 117 Pages Federal Advisory Council: (Continued) Direct purchases of Government securities from Treasury, legislation to make permanent authority for, 2/11 views requested before next meeting Extension of authorty for three years recommended by 3/11 FAC, discussion at meeting with Board Discount rates, increase suggested by FAC to control expansion of bank credit, discussion at meeting with 11/18 Board Executive committee: Members: 3/11 Brown, E. E., election for 1947 3/11 Burgess, g. Randolph, election for 1947 3/11 Fleming, Robert V., election for 1947 3/11 McCoy, John H., election for 1947 3/11 Spencer, Charles E., Jr., election for 1947 3/11 Jilliams, David E., election for 1947 RBranch buildings, removal of limitation on cost, legislation 3/11 re, FAC to consider matter further Fees and allowances, schedule approved, FRBanks requested to send copy of schedule adopted by board of di2/ 7 rectors Gc)vernment expenditures, reduction in, discussion at meeting 3/11 with Board Industrial loan bill, S.408, proposed amendments, resolution to be submitted by Board to Chairmen of Senate and House Banking and Currency Committees 3/11 after approval by FAC OPposition by Council if RFC powers continued, discussion at meeting with Board, further consideration 9/23 to matter to be given at next meeting Inflationary situation, to be discussed with Chairman Eccles 9/23 at luncheon meeting Loans by gold, -owned foreign commercial banks on American policies, discussion at meeting with Board, policy group on foreign interests to make 5/20 recommendations to Treasury Prospects re demand for business loans, loans secured by real estate, and for consumer credit, statement of FAC and discussion at meeting with 5/20 Board Lo ng-term bond issue, refunding issue desirable, discussion 3/11 at meeting with Board Margin requirements, question as to lower under Regulation U for banks than under Regulation T for brokers, 2/11 views requested before next meeting 5/20 Reduction, discussion at meeting with Board .ieeting with Board 3/11 ,14eeting, next to be held on May 19-20 3/11 ' leeting with Board 5/20 Meeting, next to be held on September 21-23 5/20 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 203 383 1570 368 366 368 368 368 368 390 183 385 369 1313 1316 750 754 387 202 756 368 390 749 772 118 Pages Pederal Advisory Council: (Continued) Meeting to be held in Washington, advice to Mr. Prochnow re luncheon arrangements and topics for dis 8/26 crsion Meeting with Boar 9/23 'Jeeting, next to be held in Jashington on November 16-18 9/23 Meeting with Board 11/18 Members: 3/11 Brown, E. E., President, election for 1947 Spencer, Charles E., Jr., Vice President, election for 3/11 1947 °facial personnel and salaries at FRBanks, discussion of 9/23 present situation as compared with previous Procedure for meetings with Board, improvement noted at meeting, memos prepared by staff in connection 3/11 with topics desired in future Purchase of new Treasury bond issue by commercial banks, approved by Council although contrary to policy of reducing volume of Government securities 9/23 held by commercial banks Real estate mortgage situation, discussion in connection with credit control, FAC in agreement with Board as to dangers resulting from Veterans Administration and Federal Housing Administration pres11/18 sures, statement to be prepared Re gulation N, restoration of authority, statement of Chairman 11/18 Eccles re support for Reimbursement of member banks for transportation costs on cash items sent direct to other FRBanks and Branches, discussion of opposition by Texas 9/23 banks and relationship with Regulation Q designation for Reserve and central reserve cities, formula 10/17 10/21 Attitude on grmula for designation of Designation of, designation of, discussion of formula proposed by Board and reserve requirements, 9/23 Council opposed to formula Reserve Requirements, reduction in, opposition to suggestion, discussion at meeting with Board, no action 9/23 to be taken Special reserve plan to control expansion of bank credit, opposition expressed in statement at meeting 11/18 with Board See retaryls Office, proposed changes to cover expenses to be 2/ 7 submitted to Board for approval S. 15.,, Veterans Employment and National Economic Development 3/11 Corporation Act of 1946, Board opposed to 3. 217, to continue authority of RFC for credit to small business enterprises, no report to be made by 3/11 Board, Comptroller or Treasury re 3. 408, industrial loan bill, statement indicating preference for bill rather than extension of lending pow11/18 ers of RFC http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1215 1292 1316 1566 368 368 1307 391 1312 1578 1590 1297 1441 1456 1301 1306 1570 184 370 383 1566 119 Pages Pederal Advisory Council: (Continued) Staff: 3/11 Lichtenstein, Walter, Secretary, election for 1947 3/11 election for Secretary, 1947 Acting V., Prochnoa, Herbert Topics for discussion: Bank holding company legislation, opinions to be given at 4/16 May meeting Bills offered directly to FRBanks by commercial banks, policy of purchasing at price to be determined daily by FRBank of New York, advice 8/18 to Mr. Prochnow Check collection system, modernization and maximum de10/31 velopment bank Credit controls, steps to correct expansion of 10/31 credit long-term Increase in certificate rate or issuance of security to prevent further decline in long4/16 term rate copies Congress, Legislative situation at close of 80th of Chairman Ecclesf letter to Presidents sent 8/26 to FAC 5/ 2 List for next meeting sent to Mr. Brown and rates 5/ 2 Loans, demand for business loans, policies, banks, commercial Loans on foreign-owned gold by American 5/ 2 policies re by informally discussed Memo of subjects submitted •by FAC Board, Chairman Eccles to discuss subjects at 3/10 meeting with Board joint at Board Chairman Eccles to state views of 5/20 meeting at Eccles Chairman by Views of Board to be stated 9/22 joint meeting at Eccles Chairman by stated be Views of Board to 11/17 joint meeting Reserve cities, designation of, suit by Michigan National Bank of Lansing, Mich., to be deferred pend7/ 2 ing further Board action after next meeting plan requirements, Reserve city designations and reserve 8/13 approved, copy sent to FRBanks and FAC Prochnow /26 8 Copy of letter re plan sent to Mr. further 10/31 S. 408, industrial loan bill, to be considered 5/ 2 S. 629, bank holding company bill Subjects listed for views of Council at meeting on March 2/11 10 and 11 5/ 2 Transactions by commercial banks in gold Treasury bills, termination of fixed buying rate and re4/16 purchase option on 8/26 Treasury bill policy, advice to Mr. Prochnow Transactions by American commercial banks in gold at premium prices, discussion at meeting with Board, policy group on foreign interests to recommend 5/20 to Treasury issuance of statement re http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 368 368 590 1193 1502 1502 591 1216 679 679 679 357 746 1300 1557 1004 1174 1216 1502 679 202 679 590 1216 752 120 Pages Federal Advisory Council: (Continued) Treasury bills, purchase by FRBanks at price to be determined daily, discussion of position of FRBank of New York in discouraging purchases, further information to be obtained before considera9/23 tion of change in procedure for System ral Bureau of Investigation: C4zrency movements, protection for, discussion with ABA suggested to, advice re discussion of question 3/27 at Presidents Conference Protective surveys, completion of, letters with recommendations to be sent to FRBanks, reply to Mr. 8/ 4 Hoover re and instructions to FRBanks Protective measures at FRBanks, recommendations re, discussion at Presidents Conference, continuing attention 10/ 7 to be given to matter R obberies of messengers delivering money to and from Seattle Branch, information re plans received from, question to be discussed at Presidents Con2/19 ference Robbery, precautions against, survey to be made of practices of FRBanks in handling money and securities, and educational campaign to be conducted among member banks, discussion at Presidents Confer2/28 ence Federal Deposit Insurance Corporation: 'sorption of exchange charges, information to be sent to Board by Messrs. Leach, McLarin, and Davis and matter to be taken up with Treasury and FDIC, discus2/28 sion at Presidents Conference All-bank statistical series, Board to join with Comptroller of the Currency and FDIC to arrange for compilation and publication of single, letter to 6/ 5 Bureau of the Budget Audit of certified statements filed by insured banks with deposits in excess of $5,000,000 in Illinois and Iowa, advice to FRBanks of Chicago and 1/16 St. Louis re program Experimeiftal program to be extended to Indiana, advice to FRBanks of Chicago and St. Louis 5/28 ExPerimental program to be extended to Wisconsin and Michigan, advice to FRBanks of Chicago, St. Iouis, 11/ 5 and Minneapolis 13ani credit policies during inflation, joint statement to be issued re, to be revised by Mr. Clayton and discussed with Treasury before review with executive committee of National Association of Supervisors of State Banks 11/17 Joint statement re, discussion, to be considered by Board while being reviewed by representative group of Supervisors of State Banks 11/21 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1293 470 1134 1399 225 302 305 854 70 806 1531 1560 1606 121 Pages Federal Deposit Insurance Corporation: (Continued) Bank of Chestnut, Ill., permission granted to examine for continuance of insurance after withdrawal 12/11 (See Files from membership in FRSystem discussion of Bank Sheridan, Montana, management problem, with, no objection to admission to membership 326 3/ 4 in FRSystem under present management Banking to be Yr. by discussed included in labor legislation 588 4/16 Clayton with representatives of • Cer FRSystem: tiflcation of banks as members of 675 5/ 2 Bell Gardens Bank, Bell Gardens, California 681 5 5/ Citizens State Bank, Ysleta, Texas 1/20 88 DeKalb State Bank, Doraville, Georgia Montana Valier, Farmers and Stockmens Bank, of / ) 1 1( /27 3 14736 First State Bank of Green's Bayou, Houston, Texas 12/11 1738 First State Bank of Greggton, Texas 11/13 1552 First State Bank, Junction, Texas 5/22 Illinois 777 Ridgway, Bank, State Gallatin County 963 6/20 Grants State Bank, Grants, New 2/18 221 Hampton Oaks State Bank, Houston, Texas 6/18 938 Hereford State Bank, Hereford, Texas 320 Jeff Davis Bank & Trust Company, Jennings, La. 3/ 3 1319 9/23 Liberty County Bank, Chester, Montana 9/ 4 1247 Livingston State Bank, Livingston, Montana , Security State Bank, Littlefield, Texas 10/ 9 1416 uommercial State Bank, Sinton, Texas, permission granted to examine for continuance of insurance after 8/21 1208 withdrawal from membership in FRSystem C ondition reports of State member banks, to be available for confidential use of Department of Agriculture 9/16 1278 for tabulation of data Cranford Trust Company, Cranford, New Jersey, permission granted to examine for continuance of insurance 6/23 969 after withdrawal from FRSystem Debt, reduction of individual as restraint upon rising living costs, joint statement issued re, elimination from reports of examination of State member 1411 banks planned, opinion of Yr. Hanl requested 10/ 8 Examination for GAO by request banks, of reports of 28 insured permission, Messrs. Leonard and Townsend to discuss matter with FDIC and Comptroller of 1/17 74 the Currency Mr. Vardaman to meet with Comptroller of the Currency, Chairman of FDIC, Comptroller General, and representative of Treasury Department to discuss, reports of State member banks to be available under same terms as national bank 118 1/27 reports by FDIC if necessary Examination reports of State member banks, to be made available to GAO under same terms as national bank reports by FDIC, advice to Mr. Han, prior to 171 2/ 4 conference re http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 122 Pages Federal Deposit Insurance Corporation: (Continued) Examination reports of five State member banks, to be available to GAO in connection with current review of operations, but not to be used for new 11/17 review Fidelity coverage, FRBanks requested to cooperate in program 11/10 for State member banks First Trust and Savings Bank, Paris, Tenn., permission granted to examine for continuance of insurance after withdrawal from membership in FRSystem 4/23 Continuance of insurance after withdrawal from membership in FRSystem approved, withdrawal permissible, 9/23 advice to FRBank of St. Louis GAO, availability of reports of examination in connection with audit by, visit of Mr. Newman to Board, arrangement for meeting with Treasury, Comptroller 2/21 and FDIC not completed Holding company affiliates, information re, general question to be considered in preliminary discussions by Mr. Sailor and Mr. Leonard, or in his absence, 7/ 9 Mr. Millard Inventories of consumer goods, accumulation of, statement of Chairman Eccles in 1942 re, elimination from reports of examination of State member banks 10/ 8 planned, opinion requested Elimination from reports of examination, advice to 10/28 FRBanks Investments in and loans on Government securities, joint statement issued in 1942 re, no instructions to be issued to examiners, opinion requested 10/ 8 Joint statement by bank supervisory agencies issued in 1942 on individual debt and investments, discussion of cancellation, no action to be taken by 7/ 2 Board as to further statement reopinion re, Instructions to be made to examiners 10/ 8 quested examinaof reports in included be Request that comments 10/28 tion rescinded, advice to FRBanks j°int statement on bank credit policy during inflation 11/24 issued Membership in FRSystem, withdrawals advised by representatives, letter to Mr. Hanl protesting such practices 2/ 7 Practices, reply to letter re, Messrs. Sailor and Leonard 4/ 8 to discuss matter into taken considbe FDIC views to of for, Applications eration, in connection with application of 6/19 Falcon Heights State Bank, St. Paul, Minn. National Association of Supervisors of State Banks, members of Board to be invited to dinner given by 6/20 Board of Governors Zor http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1562 1541 628 1319 241 1034 1411 1489 1411 1011 1411 1489 1635 186 536 943 952 123 Pages Pederal Deposit Insurance Corporation: (Continued) Northern New York Trust Company, expansion program, absorption of Citizens and Farmers Trust Company, Adams, New York, opinion 02 Board 4/ 3 re sent to Mr. Hanl Ottoville Bank Company, Ottoville, Ohio, permission granted to examine for continuance of insurance after 7/ 2 withdrawal from FRSystem Reports of examination, availability to Government agencies, requests to be submitted in accordance with approved procedure, discussed in connection with request of Treasury Intelligence Unit for information from report of examination of Annapolis Bank and Trust Company, Anna2/25 polis, Md. Availability to Government agencies, policy re, advice to 3/17 S. 548, to increase insurance from 85,000 to $15,000, request from Clerk of Senate Banking and Currency 2/21 Committee for, to be filed without reply To insure bank deposits up to maximum of $15,000, Board 4/17 not in favor of, advice to Senator Langer S. 1070, to cancel capital stock and to repay Treasury and FRBanks, Board in favor of bill with certain 4/18 changes, advice to Senator Tobey To provide for cancellation of capital stock, payment for retirement of stock by FRBanks, omission of provision requested to avoid confusion, 6/13 letter to Senator Tobey To provide for cancellation of capital stock, etc., report in favor of President's signing sent to 7/30 Bureau of the Budget State Bank of Blue Island, Illinois, permission granted to examine for continuation of insurance after 7/17 withdrawal from FRSystem Stock held by FRBanks, exchange and reissue of, old certificate to be forwarded by FRBanks to Board for 1/29 exchange, advice to FRBanks New certificates sent to FRBanks and old ones returned to 3/ 7 FDIC, advice re Cancellation of, statement to be published in August 8/11 issue of FRBulletin Cancellation, stock certificates to be transmitted to 9/16 Treasury for presentation to, advice to FRBanks Payments under section 13b(e) not to be made to Treasury 12/ 2 after cancellation by FRBanks Payments under section 13b(e) not to be made to Treasury after cancellation by FRBanks, instructions to FRBanks for 1947 report on FR 418 12/23 Supervising examiner in Madison, nsconsin, letter to Mr. Hanl on activities to keep State banks out of FRSystem 2/ 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 508 1017 254 41)4 244 602 b09 922 1116 1064 141 354 1165 1277 1679 1824 186 124 Pages Federal Deposit Insurance Corporation: (Continued) Transamerica Corporation, investigation to be made re monopolistic aspects of expansion, advice to be 10/31 sent to Chairman of Trust Company of Georgia Associates of Atlanta, Georgia, information requested re, letter to Mr. Hanl suggesting that he and Governor Clayton consider general question of information re 6/23 holding company affiliates Feder funds, purchase and sale by member banks in Nev York District, discussion of practice in connection with all banks, question to be discussed at 10/ 3 Presidents Conference Purchase and sale by member banks in New York district, no action to be taken on intradistrict or inter10/17 district basis Federal Home Loan Bank at Cincinnati: Transfer of funds from national bank to, letter to Mr. Fahey re solicitation and payment of interest on 2/26 deposits by Fede ral Home Loan Bank Administration: Farmers and Merchants Bank of Long Beach, California, transactions with Long Beach Federal Savings and Loan Association, determined by examination not to be illegal, advice to Department of 2/ 5 Justice Transfer of funds from national bank to Federal Home Loan Bank at Cincinnati, letter to Mr. Fahey re solicitation and payment of interest on 2/26 deposits by Ferl_ al Interdepartmental Safety Council: Kelleher, J. E., to serve as representative on, advice to Mr. 3/12 Blanchard Fe 1511 969 1368 1447 266 177 266 396 Register: Margin requirements, amendments to Regulations T and U to re1/17 duce to 75%, statement re Reserve city designation, statement of proposed changes approved for publication in, advice to FRBanks 10/21 Standard for Classification approved, to be published in 12/19 PRAct• Obsolete provisions, reply to letter from Senator Wiley re 7/ 9 bills to repeal obsolete laws Revised edition, printing of additional copies approved 1/14 Section 13b(e), payments to Treasury not to be made after cancellation of FDIC stock by FRBanks, advice 12/ 2 to FRBank of San Francisco Payments to Treasury not to be made after cancellation of FDIC stock by FRBanks, instructions to 12/23 FRBanks for 1947 report on FR 418 Se c. 19, draft of bill to amend by adding section to provide 11/26 special reserve plan http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 83 1455 1797 1033 59 1679 1824 1665 125 Pages FRAgents, Assistants: Allendoerfer, Maurice, FRBank of Kansas City, salary approved 1/ 9 Barnett, Mrs. Genevieve M., Alternate at FRBank of Atlanta, 7/29 salary approved 2 Boles,1/ J. ;%, FRBank of Dallas, salary approved Braker, Elwood J., Alternate at FRBank of Philadelphia, sal10/15 ary approved Burr, Glendon M., Alternate at FRBank of Philadelphia, appoint3/ 5 ment and salary approved 10/15 _ Salary approved Ferman, W. S., Alternate at FRBank of Minneapolis, salary 12/18 approved Fricek, Elmer F., Alternate at FRBank of Cleveland, salary 9/30 approved Galvin, E. H., Alternate at FRBank of San Francisco, salary 1/ 8 approved 10/20 Salary approved . Salary approved 12/30 Hlggason, Beverly P., Alternate at FRBank of Richmond, sal1/14 ary approved 12/23 Salary approved Hoppe, Edward H., Alternate at FRBank of St. Louis, appoint5/ 2 ment and salary approved 12/23 Salary approved Johnson, John, Alternate at FRBank of Minneapolis, salary 12/18 approved Kidd, W. B., Alternate at FRBank of Dallas,salary approved 1/ 2 La appointment moneY, Levings 4., Alternate at FRBank of Atlanta, 1/24 and salary approved salary Boston, (3neY, John F., Alternate at FRBank of 12/15 approved Morrissey, Clifford E., Alternate at FRBank of Boston, salary 12/15 Newcomb, mcomb, Margaret R., Alternate at FRBank of Philadelphia, 10/15 salary approved Parker, Frank S., FRBank of St. Louis, salary approved 19 2/213 Salary approved Price, Edward, Alternate at FRBank of Dallas, salary ap1/ 2 proved Rehfuss, J. Frank, FRBank of Philadelphia, salary approved 10/15 ReYnolds, Mrs. Edna K., Alternate at FRBank of New York, 1/ 7 salary approved 12/29 s Salary approved canlon, Charles J., Alternate at FRBank of Chicago, salary 12/ 3 approved Schelling, Carl, FRBank of Chicago, salary approved 12/ 3 Self, Kenneth B., Alternate at FRBank of Kansas City, salary 1/ 9 approved She p herd,P 1/14 Robert L., FRBank of Richmond, salary approved 12/23 Salary approved Stone, P. M., FRBank of San Francisco, salary approved 10/20 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 30 1110 3 1433 331 1433 1789 1348 22 1454 1842 56 1822 674 1822 1789 3 107 1763 1763 1433 1Z 3 1433 11 1836 1663 1683 30 56 1822 1454 126 Pages PRAgents, Assistant: (Continued) Stoyle, Lewis E., Alternate at FRBank of Boston, salary approved Stryker, J. V. D., FRBank of New York, salary approved Thompson George E., Jr., Alternate at FRBank of Richmond, appointment and salary approved _. Salary approved ..:111ander, C. E., FRBank of Minneapolis, salary approved patig=r,Edward A., FRBank of St. Louis, salary approved 12/15 12/29 1763 1836 4/ 2 12/23 12/18 1822 1789 4/16 593 Avery, Clarence W., FRBank of Chicago, to be appointed for unexpired portion of term if willing to accept, 2/21 Mr. Hoffman to be asked to confer with 3/ 6 Designation for 1947 approved 12/15 Redesignation for 1948 Brainard, George C., FRBank of Cleveland, present at Board meeting to discuss purchase of Chamber of 5/15 Commerce Building in Cincinnati 12/15 _ Redesignation for 19h8 ualdwell, Robert B., FRBank of Kansas City, redesignation 12/15 for 19h8 Creighton, Albert M., FRBank of Boston, redesignation for 12/15 1948 Dearmont, Russell, L., FRBank of St. Louis, redesignation 12/15 for 1948 Grady, Henry F., San Francisco, appointment as Ambassador to 4/16 India, selection of successor considered Resignation to become Ambassador to India, letter of 4/22 appreciation for services McCabe, Thomas B., FRBank of Philadelphia, redesignation for 12/15 1948 Neel 12/15 m -Y, Frank H., FRBank of Atlanta, redesignation for 1948 'age, Arthur Nilson, FRBank of New York, to be appointed for unexpired portion of term if willing to accept, 2/21 Chairman Eccles to confer with in New York 12/15 1948 for Parten J. R.,FRBank of Dallas, redesignation Shepard, Roger B., FRBank of Minneapolis, redesignation for 12/15 1948 authorEccles Mr. Wilbur, Brayton, FRBank of San Francisco, 4/16 ized to tender appointment if desirable approved salary 5/ 2 Designation as Chairman and FRAgent and 12/15 Redesignation for 1948 12/15 PRA,Ys°r, 17. G., FRBank of Richmond, redesignation for 1948 its' Representatives: 1/14 agbY, T. /esley, Charlotte Branch, salary approved 12/23 Salary approved 1/ 2 John A., Houston Branch, salary approved Boyd,Chase „L.thase, David E., Oklahoma City Branch, salary approved 1/ 9 1/ 9 uc3x, Lee G., Oklahoma City Branch, salary approved _ 6/30 Salary approved uucamus, D. J., Alternate at New Orleans Branch, salary ap12/30 proved yi T http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 498 240 339 1757 727 1757 1757 1757 1757 587 615 1757 1757 240 1757 1757 588 675 1757 1757 57 1822 3 30 30 992 1841 127 Pages PRAgentst Representatives: (Continued) Pairley, William F., Omaha Branch, salary approved 1/9 . Salary approved 6/30 Gilliam, Paul D., Charlotte Branch, appointment and salary 4/11 approved Salary approved 12/23 Fisher, H. B., Denver Branch, salary approved 1/9 Fraser, C. Hadley, El Paso Branch, salary approved 1/ 2 Salary approved 6/30 Jones, Everett D., Detroit Branch, salary 12/ 3 ry approved Larsen, L., Salt Lake City Branch, salary approved 10/20 Links, John A., Little Rock Branch, salary approved 4/16 Salary approved 12/23 Ostendorf, Harry H., Cincinnati Branch, salary approved 9/30 Parsell, G. H., Louisville Branch, salary approved 4/16 Salary approved 12/23 Pettke, August J., Detroit Branch, salary approved 12/ 3 Rltzel, Carl, Memphis Branch, salary approved 4/16 Salary approved 12/23 Robinson, J. R., Los Angeles Branch, salary approved 10/20 Shipley, Eugene L., Baltimore Branch, salary approved 6/16 Salary approved 12/23 Stewart,t Alfred A., Jr., Baltimore Branch, appointment and salary approved 4/11 Salary approved 6/16 salary approved 12/23 Stover, G. :Y., San Antonio Branch, salary approved s 1/2 reeter, Earl O ,Omaha Branch, salary approved 1/9 t,Trowbridge Gordon, Pittsburgh Branch, appointment and salary approved 1/7 y Salary approved 9/30 D1113,°I-Ing, .!filliam R., Denver Branch, salary approved 1/9 of Atlanta: Banking quarters, authorization to proceed with alterations to close in light well and provide additional 1/27 space Budet Bank Examination and Research and Statistical functions, reasons for exceeding approved budget re11/ 7 quested Examination Department, revised budget for last half of 11/21 1947 approved Expenses in excess of estimate for last half of 1947, acknowledgment of letters re 12/31 Research expenses, no action required as less than amount approved in original 1947 budget 12/12 Examination, copy of report left for information of Chairman and directors, comments requested 6/11 Panote L,_ s, supplemental order for printing 9/18 " 11 fund for employees, no objection to use of funds for, advances to be included on Form FR 34 4/11 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 30 992 565 1822 30 3 993 1683 1454 593 1823 1348 593 1823 1683 593 1823 1454 924 1622 565 924 1822 3 30 12 1348 30 122 1539 1629 1849 1745 903 1286 566 '''1113anit of Atlanta: (Continued) Personnel classification plan, changes involving transfer of Cafeteria from Service Department to Personnel Department approved Changes consisting of increases in maximum annual salaries approved Rates: Discounts: Participation certificates, discount under Section 13b for Fulton National Bank, rate of one per cent on purchases approved for Salaries: Employees, noted without objection Employees, minimum and maximum salaries approved for respective grades, in connection with job classification plan Staff:Officers approved 128 Pages 1/13 46 6/20 962 11/18 1592 3/18 419 8/28 5/16 1224 737 Assistant examiners, exemption under Fair Labor Standards Act, question raised re, advice requested from FRBanks re procedure to be followed by Board 12/ 5 Barnett, Mrs. Genevieve M., Alt. Asst. FRAgent, salary 7/29 apuroved Bowden, J. H., Assistant Vice President, salary approved 5/16 5/16 Bowman, V. K., Vice President, salary approved 5/16 Camp, C. R., Asst. Vice President, salary approved Clark, L. no, First Vice President, reference to resentment of directors to statement as to appoint1/15 ment 5/16 Salary approved Conniff, H. F., Vice President, salary approved 5/16 Contribution to retirement system approved, but less 5/27 than requested Crowe, Vestus L., designation as special assistant 3/18 examiner appointapproved, Denmark, J. E., Vice President, salary ment as examiner and designation as officer in charge of Bank Examinations Department ap5/16 proved 0 examiner assistant D 55, Thomas E., Jr., appointment as approved, indebtedness to national bank to be 2/ 5 eliminated and appointment salary Hardin, J. L., assistant examiner, 2/20 approved 6/19 Appointment as assistant examiner approved Appointment as examiner approved, formerly assistant 12/11 examiner assistant examiner as Lewis, appointment King, Griffin approved, indebtedness to Bank of Camden, 10/24 Tenn., nonmember bank, to be liquidated Laney, Levings v., Alt. Asst. FRAgent, appointment and 1/24 salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1706 1110 737 737 737 63 737 737 801 420 737 176 227 943 1734 1479 107 129 Pages FRBank of Atlanta: (Continued) Staff: (Continued) 5/16 Martin, F. H., Asst. Vice President, salary approved 5/16 approved salary President, Martin, I. H., Asst. Vice apsalary President, McCravey, J. R., Jr., Asst. Vice 5/16 proved approved 5/16 salary McLarin, if. S., Jr., President, examiner assistant Mobley, Thomas High, appointment as 8/11 approved 12/15 1948 for redesignation Neely, Frank H., FRAgent, Owens, Charles D., appointment as assistant examiner ap3/21 proved 5/16 approved salary Counsel, Harold T., Patterson, 5/16 Pike, W. E., General Auditor, salary approved 5/16 Rainey, E. C., Asst. Vice President, salary approved 5/16 Rauber, E. L., Director of Research, salary approved 5/16 Schuessler, S. P., Vice President, salary approved Wilburn, Adolphus D., assistant examiner, salary approved 4/24 Appointment as examiner approved, formerly assistant 8/ 4 examiner War loans: Attorneyts fee incurred in connection with, approval of payment by War Department requested in letter 8/29 Secretary Royall to PR Bank of Boston: Banking quarters, no objection to project for modernization 3/14 of lighting arrangements No objection to installation of acoustical ceiling in por5/19 tion of third floor Budget: Bank Examination and Research and Statistical functions, reasons for exceeding approved budget re11/ 7 quested for budget 1947 Bank Examination Department, revised 11/21 approved for budget revised Research and Statistical function, 12/12 1947 approved , beproblem heck in, changes proposed collection circulars, ing considered for all FRBanks, but no objec11/ 5 tion if necessary at present 5/ 5 printing FRnotes, supplemental order for Salaries: Employees, noted without objection 3/18 approved for resalaries maximum Employees, minimum and spective grades, in connection with job clas8/28 sification plan 5/ 9 a Officers, approved t 12/15 Adams, Elmo O., Asst. Cashier, salary approved Berge, Ansgar R., Secretary and Assistant Counsel, salary 5/ 9 approved Blanchard, Joseph S., political office held by, relationship to be terminated unless additional in2/17 formation received http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 737 737 737 737 1164 1757 444 737 737 737 737 737 630 1133 1240 410 744 1539 1628 1745 1530 682 419 1221 696 1764 697 216 130 Pages PRBank Of Boston: (Continued) Staff: (Continued) Boardman, Elliot S., Budget Officer, salary approved 12/15 Bullen, Richard C., designation as special assistant examiner 11/ 3 Creighton, Albert M., FRAgent, redesignation for 1948 12/15 Davis, Edward A., Jr., Assistant Vice President, salary approved 5/ 9 Fogg, John J., Auditor, connection with Frances E. Willard Settlement to be terminated within year, Mr. Creighton to be advised of no change in 1/17 Board's position Connection with Frances E. Willard Settlement to be terminated within year, further review of matter but no change in decision, letter to Mr. Creighton approved 3/14 Salary approved 5/ 9 Gilbody, Frank C., Assistant Cashier, salary approved 5/ 9 Salary approved 12/15 ittins, William Clifford, designation as special assistant examiner approved 11/10 Gramstorff, C. Herman, designation as special assistant examiner 11/ 3 Harvey, Robert B., Assistant Cashier, salary approved 5/ 9 Salary as Cashier approved 7/ 9 Hauser, William O., political office held by, relationship to be terminated unless additional information 2/17 received Hult, Ellis G., Vice President, salary approved 5/ 9 Hunter, John C., Cashier, salary approved 5/ 9 Lacks, Stanley B., designation as special assistant ex11/ 3 aminer Latham, Earle O., Vice President, appointment as examiner, designation as officer in charge of Bank Examinations Department, and salary approved 5/ 9 Martin, Edward Wright, appointment as assistant examiner 6/10 approved Mooney, John F.,Alt. Asst. FRAgent, salary approved 12/15 Morrissey, Clifford E., Alt. Asst. FRAgent, salary ap12/15 proved Murphy, Edward R., Assistant Cashier, salary approved 15 1/19 5 Salary approved Neal, Alfred C., Director of Research, appointment as 1/16 officer noted and salary approved Salary approved 5/ 9 Nye, Loring C., designation as special assistant examiner11/18 Officers, reappointments noted 1/16 O'Neil, Edward W., Asst. Cashier, salary approved 12/15 Pitman, Carl B., Vice President, salary approved 5/ 9 Rock, John J., Asst. Cashier, salary approved 12/15 Sawyer, Dana D., Assistant Vice President, salary approved 5/ 9 Salary approved 12/15 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1764 1517 1757 697 73 402 697 697 1764 1541 1517 697 1028 216 697 697 1517 697 898 1763 1763 16 94 7 69 697 1592 69 1764 697 1764 697 1764 131 Pages of Boston: (Continued) Staff: (Continued) Schlaikjer, Oscar A., Vice President and General Counsel, salary approved 697 5/ 9 Smiles, Archie C., designation as special assistant examiner 4/16 593 Appointment as assistant examiner approved 12/31 '844 Stoyle, Lewis E., Atl. Asst. FRAgent, salary approved 12/15 1763 Van Amringe, Roy F., Assistant Vice President, salary approved 5/ 9 697 Salary as Vice President approved 1028 7/ 9 Wells, George E., designation as special assistant examiner 11/ 3 1517 Whittemore, Laurence F., President, salary approved 5/ 9 697 Willett, William, First Vice President, salary approved 5/ 9 697 Zehner, Louis A., Assistant Vice President, salary approved 697 5/ 9 Salary approved 12/15 1764 Visit s by representatives of Government agencies, acknowledgP1 /24 113 ment of letter of Chicago: nking quarters, modernization of elevator system, no objection to expenditure for work, at time when building conditions are improved 2/20 233 No objection to expenditure for enlarging concourse on Quincy Street and remodeling certain space in Bank 7/14 1055 No objection to changes in program for conversion of electric power to alternating current and for modernization of elevator system 9/17 1280 Budget: Bank Examination and Research and Statistical functions, reasons for exceeding approved budget requested 11/ 7 Expenses in excess of estimate for last half of 1947, 12/31 acknowledgement of letter re Research and Statistical function, revised budget for 12/12 1947 approved FRno tee, supplemental order for printing 5/21 S upplemental order for 9/24 printing Pe — r°0nnel classification plan, changes consisting of increases in maximum annual salaries for positions of janitor, charwoman, elevator starter, elevator operator, split watch operator, and assistant starter approved 8/ 5 Reimbursement of member banks for postage and other transportation costs, procedure to become effective August 1, member banks to be notified, Secretary to advise President 7/31 Ileserl, - ves, penalties for deficiencies resulting from blizzard conditions waived for District 2/ 4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1539 1850 1745 775 1325 1137 1122 175 FRBank of Chicago: Salaries: 132 Pages (Continued) Employees, noted without objection 3/18 Employees, minimum and maximum salaries approved for respective grades, in connection with job classification plan 8/28 Officers, Messrs. Young and Avery to be invited to discuss question of salaries of FRBank with Personnel Committee 3/25 Discussion of Messrs. Young and Avery with Personnel Committee 4/ 4 Approved for 1947, after discussion of entire program, further recommendations for officers above rank of Cashier, including Manager of Detroit Branch, to be considered upon submission by Chicago Bank 4/ 4 Increases approved after new recommendation 5/ 1 short-term Government securities, custody for non-member banks, to be considered at Presidents Conference, delay of removal permissible if desired 5/16 Staff: Avery, Clarence W., FRAgent, to be appointed for unexpired portion of term if willing to accept, Mr. Hoffman to be asked to confer with 2/21 Designation for 1947 approved 3/ 6 Redesignation for 1948 12/15 Bachman, William C., Assistant Vice President, salary approved if fixed by Chicago board, after discussion of increase 4/ 4 Barton, Orville C., Assistant Counsel, salary approved 4/ 4 Black, Allan M., Cashier, salary approved if fixed by Chicago board, after discussion of increase 4/ 4 Bristow, Edward D., Assistant Cashier, salary approved 4/ 4 Carroll, Phil C., Assistant Cashier, salary approved 4/ 4 Carter, Charles L., designation as special assistant examiner approved 7/ 9 12/22 Appointment as assistant examiner approved Dawes, Neil B., Vice President, salary approved if fixed by Chicago board 4/ 4 . Salary increase approved after new recommendation 5/ 1 Diercks, Wilford R., Vice President in charge of Bank Examination Department, designation and salary approved 1/15 Salary approved after discussion of increase 4/ 4 Dillard, J. H., Vice Presidentlsalary increase proposed, discussion of work and contribution to operation of Bank 4/ 4 Salary approved if fixed by Chicago board, after discussion of capabilities 4/ 4 Salary increase approved after new recommendation 5/ 1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 419 1224 460 512 515 667 741 240 339 1757 516 516 516 516 516 1029 1818 516 668 61 516 513 516 668 FREank 133 Pages Of Chicago: (Continued) Staff: (Continued) Dunn, Charles B., First Vice President, salary increase proposed, Messrs. Young and Avery invited to discuss question of salaries with Personnel Committee 3/25 Salary approved if fixed by Chicago board 4/ 4 Endres, John J., Auditor, salary approved after discussion of proposed increase 4/ 4 Examining departments, plan of loaning to other departments in connection with executive development program 8/28 Garvy, John W., Asst. General Counsel, salary approved 4/ 4 Heath, Edward A., Assistant Cashier and Assistant Secretary, salary approved 4/ 4 Hodge, Paul C., General Counsel, salary approved 4/ 4 Hopkins, Walter A., Assistant Cashier, salary approved 4/ 4 Jones, Laurence H., Assistant Vice President, salary approved 1/21 Salary approved 4/ 4 Laibly, Clarence T., Assistant Cashier, salary approved 4/ 4 Langum, John K., Vice President, salary approved after discussion of increase 4/ 4 Lies, Mark A., Asst. Vice President, salary approved 4/ 4 Lindsten, Frank A., Assistant Vice President, salary approved 1/21 Salary approved 4/ 4 Meyer, Louis G., Asst. Vice President, salary approved 4/ 4 Netterstrom, Otto J., Vice President, salary approved if fixed by Chicago board 4/ 4 Salary increase approved after new recommendation 5/ 1 Newman, Harold J., Assistant Cashier, salary approved 4/ 4 Olson, Arthur L., Vice President, salary approved if fixed by Chicago board 4/ It Salary increase approved after new recommendation 5/ 1 O'Neill, Hugh, designation as special assistant examiner approved 8/28 Petersen, Ingolf J., Assistant Cashier, salary approved 4/ 4 Purrington, F. L., Asst. Vice President, salary approved 4/ 4 Reilly, Charles Henry, Jr., designation as special assistant examiner approved 8/25 Appointment as assistant examiner approved 12/22 Saltnes, Carl M., Assistant Cashier, salary approved 4/ 4 Scanlon, Charles J., Alt. Asst. FRAgent, salary approved 12/ 3 Schelling, Carl, Asst. FRAgent, salary approved 12/ 3 Sihler, Alfred T., Vice President, salary approved if fixed by Chicago board 4/ 4 Salary increase approved after new recommendation 5/ 1 Sorg, Robert E., appointment as examiner approved, former7y assistant examiner 6/ 3 Spaeth, Carl F., Jr., designation as special assistant examiner 10/24 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 460 516 516 1228 516 516 516 516 94 516 516 516 516 94 516 516 516 668 516 516 668 1228 516 516 1212 1818 516 1683 1683 516 668 836 1479 134 Pages PRBank of Chicago: (Continued) Staff: (Continued) Turner, William W., Asst. Vice President, salary approved 4/ 4 Wells, Xalter W., appointment as examiner approved, form6/ 3 erly assistant examiner approved, innot Young, C. S., President, salary increase vited to discuss question of salaries of officers of FRBanks with Personnel Committee 3/25 Salaries of officers discussed at meeting with Per4/ 4 sonnel Committee board 4/ 4 Salary approved if fixed by Chicago 5/ 1 approved Proposed salary increase not suit threatened by former employee of Detroit Branch, if filed answer to be delayed until after action 4/15 by Congress on pending labor legislation Suit filed • in Detroit re Fair Labor Standards Act, Bank to proceed with case without defense that Act 7/ 2 does not apply to FRBanks --tim of Cleveland: B• anking conditions in districts, report re, reply to letter 4/28 from Mr. Gidney Bank-ng i quarters, no objection to construction of additional 1/27 vault No objection to project for modernization of lighting 3/14 t_ No objection to program for modernization of lighting 9/23 4amination, copy of report left for information of Chairman 8/ 8 and directors, comments requested PRnte o s, supplemental order for printing 1/ 3 mo_. "lng picture, original to be made for System use, authorization to be requested, discussion at Presidents 10/ 7 Conference Pi lms to be used as educational project, authorization for 10/17 expenditure deferred s Iteplation V, information re experience under 1/20 d_Laries: 3/18 Employees, noted without objection refor approved Employees, minimum and maximum salaries spective grades, in connection with job classi9/ 8 fication plan 12/29 tempofor approved Payment below minimum for eleven rary period Officers, informal discussion, employment of outside counsel to be discontinued after May 1, 1948, Bank to be advised at time of formal approval 4/11 of salaries si„Officers, approved 4/29 approved, counsel Dempsey, retainer as Sanders and outside counsel not to be employed after April 4/29 30, 1948 Staff: Anderson, J. B., Assistant Cashier, salary approved Blair, "4-. T., Secretary, salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4/29 4/29 516 836 460 512 516 669 575 1005 651 122 411 1320 116] 10 1402 1444 91 419 1254 1836 554 656 657 657 657 135 Pages nk of Cleveland: (Continued) Staff: (Continued) Bolthouse, C. J., Assistant Cashier, salary approved 4/29 Brainard, George C., FRAgent, to appear before Board on purchase of building for Cincinnati Branch 5/13 Present at Board meeting to discuss purchase of Chamber of Commerce Building in Cincinnati 5/15 12/15 Redesignation for 1948 Clouse, R. R., Asst. Vice President, salary approved 4/29 Coleman, Kenneth S., assistant examiner, appointment approved 3/10 Coulter, William Alexander, appointment as assistant examiner approved 5/ 8 Daeuble, F. William, Supervisor of Government Coupon 1/16 Division, salary approved Ehninger, C. F., Auditor, salary approved 4/29 Emde, G. H., Assistant Cashier, salary approved 4/29 4/29 Findeisen, W. L., Asst. Vice President, salary approved Fletcher, W. H., First Vice President, salary approved 4/29 Fricek, Elmer F., Alt. Asst. FRAgent, salary approved 9/30 Fulton, W. D., Vice President, salary approved 4/29 Gidney, Ray M., first alternate for Presidents on executive committee of FOMC 3/20 Salary approved 4/29 Present at Board meeting to discuss purchase of Chamber of Commerce Building in Cincinnati 5/15 To appear before Board on purchase of building for Cincinnati Branch 5/13 Gottschalk, Ray, designation as special assistant examiner1/30 Holl, Carl E., designation as special assistant examiner 1/30 Hostetler, L. M., Manager, Research Department, salary approved 4/29 Kegerreis, Robert J., designation as special assistant 1/30 examiner Laning, A. H., Vice President and Cashier, salary approved4/29 Lowe, J. R., Assistant Cashier, salary approved 4/29 11/20 Salary approved May, Willard S., designation as special assistant ex1/30 aminer Miller, Elfer E., designation as special assistant ex1/30 aminer Miller, J. M., Assistant Cashier, salary approved 4/29 Salary approved 11/20 Morrison, M., Vice President, salary approved 4/29 Olsen, Jeanette F., analyst, continuation of assignment approved 1/30 Flagman, Alvin Chester, appointment as assistant examiner approved 5/ 8 Robinson, Donald C., analyst, continuation of assignment approved 1/30 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 657 710 727 1757 657 358 691 69 657 657 657 656 1348 656 436 656 727 710 146 146 657 146 656 657 1600 146 146 657 1600 657 147 691 147 136 FR Bank Pages of Cleveland: (Continued) Staff: (Continued) 4/29 Ross, Geo. R., Assistant Cashier, salary approved 11/20 Salary approved Schellenberger, Walter, designation as special assistant 1/30 examiner Seavert, Edward, Expense Ledger and Voucher Clerk in Expense Accounting Department, continuation of 5/ 8 temporary assignment and salary approved 4/29 Smith, H. E. J., Asst. Vice President, salary approved Smith, Virginia L., analyst, continuation of assignment 1/30 approved servspecial for fee Squire, Sanders & Dempsey, payment of ices in connection with purchase of Chamber of Commerce Building, Cincinnati, Ohio, 10/17 approved apsalary President, Vice Asst. C., Stetzelberger, P. 4/29 proved 4/29 Taylor, N. F., Vice President, salary approved 4/29 Thompson, D. S., Vice President, salary approved Wendt, Karl P., analyst, continuation of assignment ap1/30 proved ank of Dallas: Bank and public relations program, changes in official staff 2/24 in connection with Budget: Bank Examination and Aesearch and Statistical functions, reasons for exceeding approved budget re11/ 7 quested Bank Examination Department, revised budget for 1947 11/21 approved Cafeteria expense for 1947, percentage absorbed to be 11/ 5 brought within 50%, information requested ac1947, Expenses in excess of estimate for last half of 12/31 knowledgment of letter re 50%, within Cafeteria, absorption of expense to be brought 11/ 5 information requested advice authorized, Net expense to be brought within 50% 11/ 7 to Mr. Gilbert reducexpenses, of Absorption of more than 50 per cent tion to be made as of Jan. 1, 1948, and ad12/ 5 vice re plan to be used requested in adjustment of deferment Absorption of more than 50%, prices approved, advice re changes to be made 12/29 requested Currency shipments to nonmember banks at request of member banks, letter on absorbing expenses by member 1/ 8 banks sent to 0' of 39 employees, NLRB to hold informal investigation, 2/11 statement to be sent to Board Examination, copy of report left for information of Chairman and directors, comments requested, advice re 4/ 1 personnel situation also desired http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 657 1600 146 691 657 147 1452 657 657 657 147 245 1539 1629 1532 1851 1532 1539 1711 1837 24 193 1497 137 Pages PRBank of Dallas: (Continued) PRnotes, supplemental order for printing 701 5/ 9 1260 9/ 3 Supplemental order for printing 10/27 1487 Supplemental order for printing Labor union problems, NLRB to hold informal investigation re discharge of 39 employees, statement to be 2/11 193 sent to Board Report of Mr. Eads re discharge of 44 employees, statement of Mr. Townsend re situation, Personnel Committee to submit recommendation as to procedure 14/8 531 to be followed No action to be taken at present to reinstate two former 4/11 551 employees, Messrs. Clouse and Terry Personnel administration, Personnel Committee to discuss 4/11 551 matter with Mr. Parten Discussion of matter by Mr. Clayton with Mr. Parten, Mr. Clayton to go to Dallas to discuss situation with Messrs. Parten and Gilbert and Personnel 573 4/15 Committee of Bank Personnel classification plan, changes involving Personnel 2/19 224 Department approved RFC capital stock, retirement by banks, program to be devel570 oped, acknowledgment of letter re 4/14 Salaries: 3/18 419 Employees, noted without objection Employees, minimum and maximum salaries approved for respective grades, in connection with job clas8/28 1226 sification plan 6/ 4 Officers approved 844 Staff: 2/24 Austin, E. B., Vice President, salary approved 6/ 4 Salary approved Bain, Travis Whitsett, appointment as assistant examiner 6/ 4 approved assistant formerly Appointment as examiner approved, examiner Bevill, O. C., salary in excess of maximum approved Boles, J. V. Asst. FRAgent, salary approved 2/24 Carrithers, Howard, Assistant Cashier, salary approved 6/ 4 Salary approved Clayton, Howard, designation as special assistant examiner4/ 7 Clouse, Mr., reinstatement discussed but no action taken 4/11 6/ 4 Coleman, R. B., Vice President, salary approved 6/ 4 Cook, J. L., Assistant Cashier, salary approved 11/19 Coomer, Emily, salary in excess of maximum approved Cummins, Elizabeth, salary in excess of maximum approved 11/19 6/ 4 DeMoss, H. R., Vice President, salary approved Discharge of 39 employees, informal investigations to be held by NLRB, statement re to be sent to 2/11 Board Dupree, Mildred, salary in excess of maximum approved 11/19 Dye, Marion, salary in excess of maximum approved 11/19 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 246 844 846 1735 1595 3 246 844 522 551 844 844 1595 1595 844 193 1595 1595 PRBank of Dallas: (Continued) Staff: (Continued) 138 Pages Gentry, X. D., First Vice President, salary approved but at less than recommended 6/ 4 Gilbert, R. R., President, discharge of 39 employees, statement re 2/11 Salary approved 6/ 4 Reimbursement of member banks for postage and other transportation costs, discussion of resolution 7/31 re, procedure to become effective August 1 Gillespie, Marvin Earnest, appointment as assistant exami6/11 ner approved Irons, do H., Vice President, salary approved 6/ 4 11/19 Johnson, C. P., salary in excess of maximum approved Johnson, H. D., Counsel, salary approved 6/ 4 Kidd, W. B., Alt. Asst. FRAgent„ salary approved 1/ 2 Michaelis, A. C., Assistant Cashier, salary approved 6/ 4 Novey, F. T., General Auditor, salary approved 6/ 4 Parten, J. R., FRAgent, redesignation for 1948 12/15 Peck, G. F., salary in excess of maximum approved 11/19 Pondrom, L. G., Vice President and Cashier, salary approved 2/24 Salary approved but at less than recommended by Mr. Vardaman 6/ 4 Price, Edward, Alt. Asst. FRAgent, salary approved 1/ 2 Quisenberry, Roy Mims, appointment as assistant examiner approved 12/30 Renner, H. B., salary in excess of maximum approved 11/19 Rice, Morgan H., Asst. Vice President and Secretary, salary approved 6/ 4 Rodgers, Samuel Andrew, designation as special assistant examiner 6/ 4 12/26 Appointment as assistant examiner approved 6/ 4 Rowland, C. M., Assistant Cashier, salary approved 11/19 Rytikow, Neville, salary in excess of maximum approved Schumacher, Victor Peter, appointment as examiner ap3/13 proved apappointment Simmons, James Pat, assistant examiner, 7/ 1 proved Starr, Mary Katherine, salary in excess of maximum ap11/19 proved 11/19 Steil, Gladys, salary in excess of maximum approved Terrys Mr., reinstatement discussed but no action taken 4/11 gebb, R. 0., Assistant Cashier, salary approved 6/ 4 Zimmerman, Robert Elkin, appointment as assistant examiner FIN, approved 1/29 of Kansas City: ildget for 1948, question of 5 per cent increase in salaries, information requested 11/14 ca reteria, firm of experts employed to study operations and to submit report 10/ 7 0a feteria expenses, reduction of portion absorbed below 50 per cent limit, as of January 1, 1948, requested 12/10 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 845 194 844 1120 903 844 1595 844 3 844 844 1757 1595 246 844 3 1842 1595 844 847 1842 844 1595 398 1000 1595 1595 551 844 140 1554 1393 1731 139 PRPages Bank of Kansas City: (Continued) Examination, copy of report left for information of Chairman and directors, comments requested 629 4/23 FRnotes, supplemental order for printing 5/21 775 Hospitalization, expenditure approved for program with exception of sponsored dependents 2/ 7 189 Loan fund for employees, increase requested, memo to be prepared by Mr. Smead, draft of letter to Mr. Sproul to be prepared asking that matter be 12/15 considered at Presidents Conference 1760 Reimbursement of member banks for postage and other transportation costs, procedure to become effective August 1, member banks to be notified, Secretary to advise President 7/31 1122 Salaries: Employees, noted without objection 3/18 419 Employees, minimum and maximum salaries approved for respective grades, in connection with job classification plan 9/24 1321 ficers) approved 5/23 790 Stag Alexander, F. .V., Assistant Cashier, salary approved 1/ 2 Salary approved 5/23 Allendoerfer, Maurice, Asst. FRAgent, salary approved 1/ 9 Brown, Lewis A., designation as special assistant examiner 1/17 Caldwell, Robert B., FRAgent, redesignation for 1948 12/15 Copeland, Edward L., designation as special assistant examiner 1/17 Fogle„ Xilliam C., designation as special assistant examiner 1/17 Gregory, G. A., Assistant Vice President, salary approvedl/ 2 Salary approved 5/23 Johns, Delos C., Vice President, General Counsel, and 5/23 Secretary, salary approved Kennedy, Joseph G., retention in active service until 7/ 1 December 31, 1947, and salary approved Koppang, Henry 0., First Vice President, salary approved 5/23 Leody, H. G., President, salary approved 5/23 Reserve city designation, changes suggested in proposed formula, decision not to be made at present 11/21 Mathes, Russell L., Vice President, salary approved 11/24 Park, M. N. E., Assistant Cashier, salary approved 5/23 Salary approved 1/ 2 Parrish, Bess G., salary approved for active service during period January - June 30, 1947 1/30 Phillips, John, Jr., Vice President, salary approved 5/23 Poister, Clarence Emerson, appointment as examiner approved 3/25 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 790 30 86 1757 86 86 2 790 790 1000 790 790 1610 1633 790 2 147 790 )463 140 Pages FRBank of Kansas City: (Continued) Staff: (Continued) Robb, T. Bruce, Director of Agricultural Research, salary approved Director of Research, designation as officer in charge of Research Department and salary 5/23 approved Sandy, C. E., Auditor, salary approved 1/ 2 5/23 Salary approved assistant examiner Screechfield, Elmer L., appointment as 12/ 9 approved Self, Kenneth B., Alt. Asst. FRAgent, salary approved 1/9 1/2 Sherman, E. U., Assistant Cashier, salary approved 5/23 Salary approved Stannard, Albert M., Chief Telegraph Operator, salary 6/27 approved Steffens, Harry Thomas, reappointment as assistant exam5/14 iner approved Stewart, Virgil A., carpenter, payment to retirement system approved, approval to be obtained for salary if active service continued 9/24 Salary approved for retention in service, retirement payments waived 12/31 'Lawson, Lawrence W., designation as special assistant examiner 1/17 Tyner, E. P., Assistant Cashier, salary approved 1/ 2 Salary approved, retirement age to be reached on 5/23 May 30 Salary and retention in active service through Decem6/6 ber 31, 1947, approved Salary approved for retention in service, retirement 12/31 payments waived Vaughn, George A., retention in active service and salary 5/2 approved for 1947 Woolley, D. W., Vice President and Cashier, salary 5/23 approved 1 k of Minneapolis: 2 zlIdget: Bank Examination and Research and Statistical functions, reasons for exceeding approved budget re11/ 7 quested Report for 1948, explanatory statement re material 11/ 3 differences requested Research expenses, no action required as less than amount 12/12 approved in original 1947 budget H• °sPitalization and surgical benefits, expenditure for program approved, but cost of membership to be shared by Bank only for members of immediate family of employee 3/25 Personnel classification plan, change consisting of increase in maximum salary for Personnel Supervisor approved 5/14 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 791 2 790 1728 30 2 790 991 725 1323 1845 86 2 790 858 1845 674 790 1539 1518 1745 462 724 1111 Pages FRBank of Minneapolis: (Continued) Reimbursement of member banks for postage and other transportation costs, procedure to become effective August 1, member banks to be notified, Secretary to advise President 7/31 Reserve-, penalties for deficiencies, no objection to continuance of procedure re handling on current 2/18 instead of monthly basis Salaries: Employees, noted without objection, including salary of Mr. Karl VanderHorck, Examiner 3/18 Employees, minimum and maximum salaries approved for respective grades, in connection with job clas8/28 sification plan Officers, approved 5/ 1 Staff: Burke, Charles H., designation as special assistant examiner approved 7/ 9 Core, H. C., Personnel Officer, salary approved 5/ 1 Dudich, Simon, guard, salary approved 1/22 Ferrian, N. S., Review Clerk and Alt. Asst. FRAgent, salary approved 12/18 Johnson, John, Head of Collection Dept. and Alt. Asst. FRAgent, salary approved 12/18 Johnson, Robert C., designation as special assistant examiner 12/ 5 Larson, A. R., Assistant Cashier, salary approved 5/ 1 Larson, E. B., Assistant Vice President, salary approved 5/ 1 Lysen, M. E., Operating Research Officer, salary approved 5/ 1 McConnell, H. G., Vice President, appointment as examiner, designation as officer in charge of Bank 5/ 1 Examination Department, and salary approved McCracken, P. N., Director of Research, salary approved 5/ 1 McNulty, Arthur J., appointment as examiner approved, 11/10 formerly assistant examiner Mills, A. W., Vice President and Cashier, salary approved 5/ 1 5/ 1 Ohnstad, O. W., Auditor, salary approved 5/ 1 Peterson, W. E., Assistant Cashier, salary approved Peyton, John N., second alternate for Presidents on 3/20 executive committee of FOMC Salary approved 5/ 1 Powell, O. S., First Vice President, salary approved 5/ 1 Preston, O. R., Vice President, salary approved 5/ 1 Rockwell, George M., designation as special assistant examiner approved, to be assigned to Bank Examination Department temporarily 9/ 8 Pyan, James P., guard, salary approved 1/22 Shepard, Roger B., FRAgent, redesignation for 1948 12/15 Strothman, M. H., Jr., Assistant Counsel, salary approved 5/ 1 Swanson, E. W., retirement, supplemental contribution not to be granted 1/ 3 Swenson, Louis X., Supervisor of Guards, salary approved 1/22 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1122 223 419 1225 669 1031 670 98 1789 1789 1704 670 670 670 670 670 1541 670 670 670 436 670 670 670 1257 98 1757 670 8 98 142 Pages FRBank of Minneapolis: (Continued) Staff: (Continued) Teachworth, Gaylord H., Supervisor of Guards, salary 1/22 approved Tillander, C. E., Chief Examiner and Asst. FRAgent, 12/18 salary approved 5/ 1 Turner, 4. H., Assistant Cashier, salary approved Ueland, Sigurd, Vice President and Counsel, salary 5/ 1 approved 3/18 VanderHorck, Karl, salary as examiner approved Ziemer, H. I,, Vice President and Secretary, salary 5/ 1 approved FR Bank of New York: Annual report, draft of 1946 submitted and contents discussed, proposal of Mr. Eccles to be 4/ 8 submitted for study Changes to eliminate discussions of national policies, memo of Chairman Eccles approved, further 4/15 conference to be held with Mr. Sproul Bank for International Settlements, reply to be made to letter from Governor Frere, advice re sent 8/ 1 to Budget: Bank Examination and Research and Statistical functions, reasons for exceeding approved budget 11/ 7 requested1 Expenses in excess of estimate for last half of 1947, 12/31 acknowledgment of letter for budget Research and Statistical function, revised 12/12 1947 approved Custodian of Government securities pledged as collateral for loans made by other Reserve banks to 11/25 member banks in their districts of In FRBank of of, assistance by examiners 9/ 2 Richmond, payment of voucher approved investigare Board of Report considered, suggestions tion conducted in recent defalcation in Clearings Division, and per diem payments to Mr. Overby while serving as Assistant 10/21 to Secretary of the Treasury of investigation Discussion of manner of conducting recent defalcation and of per diem payments to former Asst. Vice President serving as assistant to Secretary of Treasury, not to be discussed at Chairmen's Conference and 11/26 not to be taken up with FRBanks Federal funds, purchase and sale by member banks in New York district, no action to be taken on 10/17 intradistrict or interdistrict basis Fc)reign accounts: 12/18 Austrian National Bank, opening of account approved Banco Central de la Republica Dominicana, opening and 10/24 maintenance of account approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 98 1789 670 670 419 67o 528 579 1130 1539 1848 1745 1640 1244 1470 1671 1446 1791 1484 PR A-0_ 143 Pages of New York: (Continued) Forelgn accounts: (Continued) Central Corporation of Banking Companies, Budapest, Hungary, no objection to new letter of terms, and conditions in form of usual standard letter, advice to 7/24 Poreign funds, operations of foreign correspondence to conform to domestic monetary policy, progress of information re, Board to be kept advised of developments 8/13 I nternational Bank for Reconstruction and Development, to act as fiscal agent re bond issue of, agreement approved /23 Leased telephone line from Board, no change to be made at present, discussion of memo from Mr. Bethea 5/13 Loans: Banco Central de Bolivia approved subject to certain conditions 3/21 Banco Central del Ecuador approved subject to certain conditions 5/ 2 Bank of England, approved subject to certain conditions 4/18 Increase in loan approved, subject to certain conditions 8/15 Bank of France, approved 11/26 Bank Polski, loan approved subject to certain conditions 2/14 Extension of loan approved subject to certain conditions 7/ 2 Extension of loan approved subject to certain conditions 9/ 5 Extension of loan approved subject to certain conditions 10/ 3 Extension of loan approved subject to certain conditions 10/15 Three months extension of loan approved 12/ 5 Extension of three loans approved 12/16 Banque Centrale de la Republique de Turquie, loan or loans approved subject to certain conditions 19 0/A Increase in loan or loans approved Banque de Grece, three months extension approved subject to certain conditions 3/21 Extension approved subject to certain conditions 6/20 Extension approved, subject to certain conditions 9/19 Extension approved of loan for three months 12 /19 Ma nagement of investments of retirement system, discussion of transfer to 12/ 5 M 1, einuer banks requested not to buy and sell Federal funds outside of district, policy discussed at meeting with Federal Advisory Council 9/23 M . Me to staff members who served in World Afar II and to those who died in service, authorized by CPA 1/ 3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1100 1176 1095 717 447 678 611 1189 1674 214 1012 1252 1371 1434 1714 1771 5 5 T 448 9 122 1815 1697 1293 9 144 Pages PRBa. nk of New York: (Continued) National Bank of Nicaragua, application for loan, draft of letter from Mr. Sproul, comments re 3/ 4 Personnel classification plan, changes consisting of establishment of two new positions approved 1/22 Changes involving Cable Division of Foreign Department 2/ 3 approved Changes involving abolition of certain positions in RFC Custody and Savings Bond Redemption Departments approved 4/ 2 Changes involved in consolidation of Records Section with Delivery Section of Savings Bond Issue Division, Government Bond Department, approved 4/18 Changes consisting of increases in maximum salaries for positions of Day Charwoman and Night Charwoman 5/27 approved Changes involved in consolidation of Treasury Check and Card Check Divisions into Government Check Division, and elimination of Ration Check Section approved 7/15 RFC; capital stock, retirement of, acknowledgment of letter re 5/29 program for R etirement system, agent for, discussion of suggestion, question to be considered further 10/31 Salaries: Employees, noted without objection 3/18 Employees, minimum and maximum salaries approved for respective grades, in connection with job classi9/18 fication plan 3/25 Officer, approved Staff: Abrahams, William F., Manager, Security Custody Depart3/25 ment, salary approved 3/25 Allen, Loren B., Asst. Vice President, salary approved Armbruster, John P., designation as special assistant 8/ 4 examiner Athern, Charles R., Foreign Department, assignment in unassigned position to be continued for six 1/27 months Auchter, Joseph C., continuation of temporary assignment 7/15 for six months approved Barrows, Dudley H., Manager, Unassigned, salary approved 3/25 3/25 Bilby, Harold A., Asst. Vice President, salary approved Boston, Lyon, Special Attorney, salary approved 1/13 Bowman, Curtis R., Manager, Credit Department and Discount Department, salary approved 3/25 Boyd, Harry M., Manager, Safekeeping Department, salary 3/25 approved Burt, Nesley N., Manager, Savings Bond Redemption Depart3/25 ment, salary approved Cameron, Donald J., Asst. General Auditor, salary approved3/25 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 328 97 155 498 606 801 1059 826 1496 419 1282 456 458 457 1133 131 1059 458 457 45 458 458 458 459 145 Pages PRBank of New York: (Continued) Staff: (Continued) Carroll, James J., Manager, Planning Department, salary 3/25 approved Clarke, John J!, Asst. Counsel and Asst. Secretary/ 3/25 salary approved Cowan, J. Harding, Special Attorney, salary approved 1/13 Crosse, Howard D., assigned to American-Philippine Financial Commission for three months, traveling expenses and per diem to be paid by State Department, with salary to be continued at Bank 1/7 Manager, Collection Department, salary approved 7/14 Davis, Felix T., Asst. Vice President, salary approved 3/25 Davis, Norman Pop Asst. Vice President, salary approved 3/25 3/25 Dillistin, William H., General Auditor, salary approved Douglas, Edward 0., Vice President, salary approved 3/25 Eaton, Charles, designation as special assistant examiner 8/ 4 9/ 9 Appointment as assistant examiner approved Emmons, Henry T., continuation as Job Analyst "T", Per2/28 sonnel Department, for six months approved Continuation of temporary assignment for six months 7/15 approved Emond, Eugene P., designation as special assistant examiner 8/ 4 Endresen, Ingrid, payment to retirement system on behalf 1/ 9 of, approved ritchen, Paul R., Manager, Cash Custody Department, salary approved 3/25 Gaden, Elmer L., continuation of temporary assignment for 7/15 six months approved Garvey, George: "Debits and Clearings Statistics, Their Background and Interpretation", publication and distri7/ 2 bution authorized by Board Gilson, James C., extension of temporary assignment for 8/12 six months approved Gordon, Joseph P., designation as special assistant ex8/ 4 aminer Harris, Marcus A., Manager, Government Bond Department, 3/25 salary approved Heinl, William A., Manager, Personnel Department, salary 3/25 approved 1/ 9 Holland, William F., appointment as examiner approved Howard, Thomas P., continuation of unassigned position in Cash and Collection Function approved for six months 4/ 1 3/25 Jones, J. Nilson, Vice President, salary approved 3/25 Kimball, Herbert H., Vice President, salary approved Keena, Vivian E., extension of temporary assignment for 8/12 six months approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 458 459 45 11 1055 457 458 459 457 1133 1261 319 1059 1133 29 458 1059 1019 1170 1133 458 458 29 495 457 457 1170 146 Pages FRBarilc of New York: (Continued) Staff: (Continued) Kirmss, Alfred, appointment as assistant examiner approved 1/ 9 Knoke, L. derner, Vice President, salary approved 3/25 Trip to Latin American countries to visit central banks approved, visit to Central and South 2/25 America to be deferred Lang, Peter P., Manager, Foreign Department, salary ap3/25 proved Lindsay, Thomas F., continuation of temporary assignment 3/28 approved Logan, Nalter S., Vice President and General Counsel, salary approved but at less than recommended 3/25 Luechinger, Urban, contination of temporary assignment 7/15 for six months approved Macdonnel, Moylan, continuation for six months in unassigned position in Purchasing Division of 1/15 Planning Department approved Mahn, Edward B., appointment as examiner approved 1/ 9 Marsh, Spencer S., Jr., Manager, Accounting Department, 3/25 salary approved McGee, Eugene M., designation as special assistant examiner 8/ 4 9/ 9 Appointment as assistant examiner approved McLaughlin, Michael J., Manager, Collection Department, 3/25 salary approved Meyer, Harry J., appointed examiner of Board to participate in examination of Chase Bank, New York, N. Y. 9/30 3/25 Miller, Silas A., Asst. Vice President, salary approved Mittricker, Franklin F., Jr., designation as special as8/ 4 sistant examiner Moore, 0. Ernest, Manager, Research Department, salary 3/25 approved Trip to visit central banks of South and Central 8/ 1 America and possibly Mexico approved Morgan, Donald J., continuation of temporary assignment 3/28 approved Officers, assignment of duties mentioned in letter to Mr. 1/27 Sproul O'Toole, Cyril A., continuation of temporary assignment for six months approved 7/15 Overby, Andrew N., per diem payments by FRBank while serving as Assistant to Secretary of the Treasury, objection by Board, in connection with exam10/21 ination report Page, Arthur dilson, FRAgent, to be appointed for unexpired portion of term if willing to accept, 2/21 Chairman Eccles to confer with Peterson, Franklin E., Manager, Bank Relations Department, 3/25 salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 29 457 260 458 488 459 1059 60 29 458 1133 1261 458 1348 458 1133 458 1129 488 115 1059 1470 240 1458 Prigank 147 Pages of New York: (Continued) Staff: (Continued) Phelan, Arthur, Vice President, salary approved 3/25 Piderit, Fred ff., Jr., appointment as examiner approved 1/ 9 Post, Everett B., extension of temporary assignment for six months approved 8/12 Ramsey, Andrew M., continuation as Job Analyst "T", Personnel Department, for six months approved 2/28 Continuation of temporary assignment for six months approved 7/15 Raubenheimer, Wallace 0.1 designation as special assistant examiner 8/ 4 Reynolds, Edna K., Alt. Asst. FRAgent, salary approved 12/29 Salary approved 1/ 7 Roelse, Harold V., Vice President, salary approved 3/25 Rounds, Leslie R., First Vice President, salary approved 3/25 Fiscal agent for International Bank for Re-Construction and Development, current information re duties requested 6/25 Rouse, Robert G., Vice President, salary approved 3/25 Rozell, Walter H., Jr., Manager, Foreign Department, salary approved 1/27 Salary approved 3/25 Sanford, Horace L., Asst. Vice President, salary approved 3/25 Trip to visit central banks of South and Central America and possibly Mexico approved 8/ 1 Scheffer, Ralph W., Manager, Check Department, salary approved 3/25 Schmidt, William H., assignment to new position, noted 3/28 Schofield, G. W., payment in connection with examination of FRBank of Cleveland and reimbursement to FRBank of New York for traveling expenses 6/25 approved 3/25 Sheehan, William F., Chief Examiner, salary approved Sproul, Allan, President: Appointment as Vice Chairman of executive committee 3/20 of FOMC, approved Question of recording personal views in Policy record of FOMC, letter re to be prepared by Messrs. 2/21 Clayton and Carpenter 3/25 Salary approved Stanton, Aloysius J., continuation in assignment as Senior Clerk "TA" approved 2/20 Stryker, J. V. D., Asst. FRAgent, salary approved 12/29 Ten Eyck, Otto We, Asst. Vice President, salary approved 3/25 Tiebout, Todd G., Asst. General Counsel, salary approved 3/25 Treiber, William F., Asst. Vice President and Secretary, salary approved 3/25 Trimble, Rufus J., Asst. General Counsel, salary approved 3/25 Van Houten, Charles N., Manager, R.F.C. Custody Department, salary approved 3/25 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 457 29 1170 319 1059 1133 1836 11 457 457 983 457 115 458 458 1129 458 489 983 458 436 238 457 226 1836 458 457 458 457 1458 PR 148 Pages Bank of New York: (Continued) Staff: (Continued) Von Klemperer, Alfred, granted six-month leave without pay for services with military government in Europe 11/20 Wallich, Henry C., trip to Latin American countries to visit central banks approved, visit to 2/25 Central and South America to be deferred To visit El Salvador on return trip from South America 5/19 Ward, Francis T., Jr., appointment as assistant examiner approved 1/9 Wendell, Roy E., Manager, Cash Department and Government Check Department, salary approved 3/25 Wessel, Harold M., Manager, Planning Department, salary 3/25 approved Xilliams, John H., Economic Adviser, status and salary arrangement for full-time or part-time basis 1/27 approved Salary arrangement for full or part-time basis ap3/25 proved 3/25 Willis, Valentine, Vice President, salary approved Wiltse, Reginald B., Vice President, salary approved 3/25 Norsnopp, Fred S., appointment as assistant examiner approved 1/9 Wulff, Daniel E., appointment as assistant examiner approved, FHA mortgage to be placed with someone other than First National Bank of Freehold, 11/13 New Jersey pro3 3/25 Wurts, John H., Asst. Vice President, salary approved a/: T1k of Philadelphia: anking quarters, no objection to proposed alterations and 2/11 additions Caf eterias, survey of banks and insurance companies made re 10/ 7 Examination of, copy of report left for information of Chair1/22 man and directors, comments requested MacCoy, Brittain, Evans and Lewis, retainer as Counsel approved, outside counsel not to be employed after April 4/29 30, 1948 Sal aries: 3/18 Employees, noted without objection Employees, minimum and maximum salaries approved for respective grades, in connection with job clas8/28 sification plan Adjustments to minimum of grade in connection with job classification plan, list and reasons for deferments after January 1, 1948, to be submitted to Board 9/ 9 Officers, informal discussion, employment of outside counsel to be discontinued after May 1, 1948, Bank to be advised at time of formal approval 4/11 of salaries Approved 14/29 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1600 260 744 29 458 459 115 459 457 457 29 1552 458 203 1391 99 655 )09 1223 1262 554 655 149 Pages PRIlmlic of Philadelphia: (Continued) Staff: Aff, Edward A., continuation of temporary assignment pending completion of job evaluation program approved Apple, Elwood E., continuation of temporary assignment pending completion of job evaluation program approved Beck, Edward G., designation as special assistant examiner Bernstein, Jack A., designation as special assistant examiner Bopp) Karl R., Director of Research, salary approved Salary as Vice President approved Bowman, Cyril J., designation as special assistant examiner Braker, Elwood J., Alt. Asst. FRAgent, salary approved Brutschea, Francis J., designation as special assistant examiner Burr, Glendon M., Alt. Asst. FRAgent, appointment and salary approved Salary approved Catanach, W. M., Assistant Cashier, salary approved Salary approved Daniels, Jay M., salary increase, Board approval not necessary Dash, Norman G., General Auditor, salary approved Salary approved Davis, j. J., First Vice President, salary approved Deckert, George W.I .designation as special assistant examiner Donaldson, L. E., Assistant Vice President, salary approved Ferguson, Robert R., designation as special assistant examiner Fredericks, Morgan H., continuation of temporary assignment pending completion of job evaluation program approved Gamber, Emily M., continuation of temporary assignment pending completion of job evaluation program approved Gray) Harriet P., salary increase, Board approval not necessary Gunsser, William A., appointment as examiner approved Hilkert, Robert N., Vice President, salary approved Hill, E. C., Vice President, salary approved Kauffman, John R., salary increase, Board approval not necessary Kerlin, Quintin G., designation as special assistant examiner Mann, Clara L., continuation of temporary assignment pending completion of job evaluation program approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3/E) 357 3/10 357 4/ 4 519 10/ 8 4/29 7/ 9 1408 655 1028 10/ 8 lo/15 1408 1433 10/ 8 1408 3/5 1o/15 4/29 1o/21 331 1433 655 1467 10/15 4/29 10/21 4/29 1433 655 1467 655 4/ 4 519 4/29 655 10/ 8 1408 3/10 357 3/Jo 357 1o/15 1/31 4/29 4/29 1433 154 655 655 1o/15 1433 )4')4 519 3/10 357 FRBank of Philadelphia: (Continued) 150 Pages Staff: (Continued) McCabe, Thomas B., FRAgent, redesignation for 1948 12/15 McCreedy, Nm. G., Vice President and Secretary, salary approved 4/29 McIlhenny, C. A., Vice President, salary approved 4/29 Newcomb, Margaret R., Alt. Asst. FRAgent, salary approved10/15 Noonan, David P., continuation of temporary assignment pending completion of job evaluation program approved 3/10 O'Grady, John J., designation as special assistant examiner 4/ 4 Poorman, P. M., Cashier, salary approved Rehfuss, J. Frank, Asst. FRAgent, salary approved 1 0 Robinson, D. Patrick M., designation as special assistant examiner 10/ 8 Roeder, Harry N., continuation of temporary assignment pending completion of job evaluation program approved 3/10 Runser, Dorothy E., continuation of temporary assignment pending completion of job evaluation program approved 3/10 Sienkiaaicz, C. A., Vice President, salary approved 4/29 Sink, John M., Jr., examiner, appointment approved 3/ 4 Staats„ Robert F., designation as special assistant examiner 4/ 4 Taylor, Jeanette C., continuation of temporary assignment pending completion of job evaluation program approved 3/10 Teal, J. Richard, designation as special assistant examiner 4/ 4 Touhill, Rollin S., designation as special assistant examiner 4/ 4 Van Sant, Albert J., designation as special assistant examiner 4/ 4 Vergari, J. V., Asst. Vice President and Asst. Secretary, salary approved 4/29 Salary approved 10/21 aalton, Elsie M., continuation of temporary assignment pending completion of job evaluation program approved 3/10 Wilgus, Richard G., Assistant Cashier, salary approved 4/29 Salary approved 10/21 :villiams, Alfred H., President, salary approved 4/29 ailliams, R. R., Asst. Vice President and Asst. Secretary, salary approved 4/29 Salary approved 10/21 Of Richmond: Banking quarters, no objection to purchase of property 1/8 1Budget: Bank Examination and Research and Statistical functions, reasons for exceeding approved budget requested 11/ 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1757 655 655 1433 357 519 1M 1408 357 357 655 326 519 357 519 519 519 655 1467 357 655 1467 655 655 1467 25 1539 PRBank of Richmond: (Continued) Budget: (Continued) 151 Pages Research and Statistical function, revised budget for 12/12 1947 approved Examination, copy of report left for information of Chairman and directors, comments requested 2/24 Copy of report left for information of Chairman and directors, comments requested 11/25 Loans to employees for educational expenses, no objection to extension of employees' loan fund for 9/10 Regulation V loans 1 no objection to publication of study on 4/11 S alaries: Employees, noted without objection 3/13 Employees, minimum and maximum salaries approved for respective grades, in connection with job classification plan 8/28 Officers approved 5/16 Staff: Armistead, N. L., Chief Examiner, salary approved 5/16 Barbour, Iola, cafeteria maid, salary approved 1/14 Brock, R. S., Jr., Auditor, salary approved 5/16 Creery, P. T., Assistant Trust Examiner, salary below minimum of present grade approved for temporary period 12/29 Derieux, Samuel A., designation as special assistant examiner 12/ 3 Ellsworth, Jesse H., designation as special assistant examiner approved 4/22 Guthrie, Claude L., Vice President and Cashier, salary 5/16 approved Higgason, Beverly P., Alt. Asst. FRAgent, salary approved 1/14 Alt. Asst. FRAgent and Supplies Shipping Clerk, 12/23 salary approved Hughes, Douglas T., appointment as assistant examiner 12/11 approved Johnstone, Albert S., Assistant Cashier, salary approved 5/16 5/16 Kincaid, Elbert A., Vice President, salary approved 5/16 Leach, Hugh, President, salary approved Marshall, Ellwood P., designation as special assistant 2/24 examiner 5/16 Martin, Upton S., Assistant Cashier, salary approved Meador, Vernon J., Assistant examiner, appointment 6/19 approved Mercer, Roger X., Vice President, salary approved 5/16 Mills, U. H., Examiner, salary below minimum approved for 12/29 temporary period Neville, Sophie, hospital maid, salary approved 1/14 Nosker, John L., appointment as examiner approved, form12/24 erly assistant examiner Nowlan, Joseph M., Assistant Cashier, salary approved 5/16 Pickens, Robert W., Assistant Chief Guard, salary approved 1/14 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1745 248 1641 1265 567 419 1224 736 736 57 736 1837 1682 615 736 56 1822 1734 736 736 736 245 736 942 736 1837 57 1827 736 57 152 Pages FRBank of Richmond: (Continued) Staff: (Continued) Robinson, Norman F., Jr., designation as special assist2/24 ant examiner Shelburne, Clarence D., appointment as examiner, formerly assistant examiner 12/24 Shepherd, Robert L., Asst. FRAgent, salary approved 1/14 Salary approved 12/23 Strathy, Clair B., Vice President and Secretary, salary approved 5/16 Thompson, George E., Jr., Alternate Assistant FRAgent, appointment and salary approved L/2 And Utility Discount and Credit Clerk, salary approved 12/23 Tucker, Jesse R., Information Clerk, salary approved 1/14 Turner, J. Gillette, designation as special assistant 11/28 examiner gakeham, Wythe B., Assistant Cashier, salary approved 5/16 Walden, John S., Jr., First Vice President, salary approved 5/16 Wallace, Maxwell G., Counsel, salary approved 5/16 Waller, Edward, Jr., Assistant Cashier, salary approved 5/16 Watson, K. Brantley, Director of Personnel, salary approved 2/20 Salary approved 5/16 ffayne, Edward A., Vice President, salary approved 5/16 12/15 PRpt, Wysor, W. G., FRAgent, redesignation for 1948 -eTk of St. Iouis: Banking quarters, no objection to alterations and additions to fourth floor, including installation of air conditioning 3/ 5 No objection to expenditure for installation and purchase of compressor and accessories for air condi8/27 tioning of Nugent Building No objection to expenditures for replacement of light fix11/ 3 tures in Collection-Transfer Department 12/29 1311dgC et7ge-off on Nugent property authorized 245 1827 56 1822 736 498 1822 57 1676 736 736 736 736 227 736 736 1757 336 1218 1518 1840 Annual, reply to inquiry re procedure to be followed for 1948 Bank Examination and Research and Statistical functions, reasons for exceeding approved budget requested Expenses in excess of estimate for last half of 1947, acknowledgment of letter re Research and Statistical function, revised budget for 1947 approved Charge-offs in connection with rehabilitation of property adjacent to bank Co ntributions: Jefferson National Expansion Memorial Association, additional contribution not approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8/29 12)42 7 1539 12/31 1850 12/12 1745 3/14 404 2/11 198 11/ 153 Pages FRBank of St. Louis: (Continued) ExPenditures in connection with rehabilitation of adjacent property, disposition approved, instructions notes, supplemental order for printing A Personnel classification plan, change consisting of establishment of position of Coordinator of Employee Activities approved 3/ 5 Changes consisting of establishment of three new positions 4/16 in Check Collection Department approved Changes consisting of establishment of positions of Chief Analyst, Personnel Department, Assistant Manager, Budgets, Operations Analysis and Planning Department, and Manager, Bank Relations 6/16 Department, approved Salaries: 3/18 Employees, noted without objection Employees, minimum and maximum salaries approved for respective grades, in connection with job 8/29 classification plan 6/13 Officers) approved Staff: Archer, William Howard, assistant examiner, appointment 6/25 approved Arthur, L. K., Assistant Vice President, salary approved 6/13 6/13 Attebery, Olin M., Vice President, salary approved Carstarphen, Lewis H., General Counsel and Secretary, 4/18 salary approved 6/13 Salary approved Davis, Chester C., President, member of executive com3/20 mittee of FOMC 6/13 Salary approved 10/31 Additional payments to retirement system approved 12/15 Dearmont, Russell L., FRAgent, redesignation for 1948 6/13 approved Gales, J. Ho, Assistant Vice President, salary 6/13 approved salary Gilmore, S. F., Assistant Vice President, 6 /13 approved Hall, F. N., Assistant Vice President, salary 6/13 Hitt, F. Guy, First Vice President, salary approved Hollocher, G. O., Assistant Vice President, salary ap6/13 proved appointment FRAgent, Hoppe, Edward H., Alternate Assistant 5/ 2 and salary approved 12 /23 Salary approved approved salary Parker, Frank S., Assistant FRAgent, 19 2/ /23 14. alary approved approved 13 salary 6 / Vice President, Peterson, Wm. E., Stead, William H., Vice President, no objection to parttime service with National Council of Economic Advisers to President Truman 3/ 5 6/13 Salary approved Stewart, C. M., Secretary, resignation accepted, salary 4/18 as Vice President approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ln 332 594 924 419 1237 911 981 912 912 607 912 436 912 1499 1757 912 912 912 912 912 674 1822 18 S2g 912 332 912 6o6 154 Pages FRBank of St. Louis: (Continued) Staff: (Continued) Neigel, Howard H., Assistant Vice President, salary 6/13 approved 6 /13 approved salary Notawa, J. C., General Auditor, 4/16 approved salary FR 114 Zehner, Edward A., Assistant FRAgent, of San Francisco: Budget: Bank Examination and Research and Statistical functions, reasons for exceeding approved budget re11/ 7 quested Expenses in excess of estimate for last half of 1947, 12/31 acknowledgment of letter re for budget revised function, Research and Statistical 12/12 1947 approved Examination, copy of report left for informat4_on of Chairman 1/15 and directors, comments requested Plinotes, supplemental order for printing 1/21 Fees and allowances of directors, schedule previously approved to be continued until new schedule 1/ 8 adopted Pe 2/ 3 rsonnel classification plan, changes approved Change consisting of increase in maximum salary for Ex5/21 aminer approved Salaries: 3/18 Employees, noted without objection Employees, minimum and maximum salaries approved for respective grades, in connection with job clas8/28 sification plan Officers recommended for increase and contingent on appointment of Mr. Mangels as First Vice 1/30 President, effective Jan. 1, 1947 4/1] Officers, approved for 1947 Chairman Eccles to discuss matter with directors, 4/18 acknowledgment of comments re 5/27 on views Board's Official 3 acknowledgment of letter re Staff: Aamodt, John N., assistant examiner, appointment approved, no objection to indebtedness to Bothell State Bank, Bothell, Wash., for loans to make im6/25 provements to home approved 4/11 salary Agnew, Albert C., General Counsel, 1/15 Ambrose, 4. N., Vice President, salary approved approved salary 4/11 Armstrong, H.,Assistant Cashier, approved salary 4/11 Cashier, Assistant Barrett, T. W., 12/31 Salary approved assistant examiner 12 /26 special designation as Bishop, E. S., approved examiner 12 /16 appointment as Brennan, Robert M., approved 1/15 salary Vice President, Davis, D. L., 4/11 Earhart, C. E., President, salary approved approved salary 8 1/ FRAgent, Asst. Alt. H., Galvin, E. 10/20 Salary approved 12/30 Salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 912 912 593 1539 1852 1745 66 96 22 155 774 419 1226 148 555 607 802 981 555 63 555 555 1846 1832 1769 63 555 22 1454 1842 155 FRBank of San Francisco: (Continued) Staff: (Continued) Pages Grady, Henry F., FRAgent, appointment as Ambassador to India, selection of successor considered 4/16 Resignation to become Ambassador to India, letter of appreciation for services 4/22 Hardy, R. T., Assistant Vice President, salary approved 4/11 Harmon, Myron J., designation as special assistant examiner 7/ 2 Holman, A. G., designation as special assistant examiner 12/26 Holman, F. H., General Auditor, salary approved 4/11 Kelly, Douglas C., appointment as assistant examiner approved, no indebtedness to banks permissible 9/16 Leisner, J. M., Vice President and Cashier, salary approved 1/15 Salary approved, effective Nov. 7, 1946 3/ 5 Salary approved 4/11 ,, Mailliard, E. C., Assistant Vice President, salary approved 4/11 Mangels, H. N., First Vice President, appointment and salary approved, after statement of Mr. Grady re discussions with bank officers in the district 1/15 Salary adjustment effective January 1, 1947, advice to FRBank 1/30 Salary adjustment to coincide with date of approval of appointment, advice to Mr. Grady 3/ 5 Salary approved 4/11 Milliken, R. C., Assistant Cashier, salary approved 4/11 Salary approved 12/31 Morris, John C., Jr., appointment as assistant examiner approved 7/24 Mane, John A., Assistant General Counsel, salary approved 4/11 Osmer, J. M., Assistant Vice President, salary approved 4/11 Partner, N. L., Vice President, salary approved 1/15 Randall, J. A., Assistant Cashier, salary approved 4/11 Shaw, C. R., Vice President, salary approved 1/15 Slade, H. F., Vice President, salary approved 1/15 Effective Nov. 7, 1946 3/ 5 Salary approved 4/11 Staricco, John D., designation as special assistant examiner 7/ 2 Stone, P. M., Assistant FRAgent, salary approved 10/20 SYmns, Ronald T., Assistant Vice President, salary approved 1/15 Salary approved, effective November 7, 1946 3/ 5 Salary approved 4/11 volberg, W. F., Vice President, salary approved 1/15 Salary approved, effective Nov. 7, 1946 3/ 5 Salary approved 4/11 Vandermark, John Jr., assistant examiner, appointment approved 3/ 3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 587 615 555 1015 1832 555 1276 63 333 555 555 61 148 333 555 555 1846 1097 555 555 63 555 63 63 333 555 1015 1454 63 333 555 63 333 555 321 PRDank 156 Pages of San Francisco: (Continued) Staff: (Continued) Nheeler, 0. P., Vice President, salary approved 1/15 63 Salary approved 4/11 555 Wilbur, Brayton, FRAgent, designation and salary ap5/2 675 proved 12/15 1757 Redesignation for 1948 FRBanks: Annual reports, discussion of question of publication by 529 b/8 6/2o 965 Assessment for expenses of Board for last half of 1947 For first six months of 1948 12/15 1751 Audits, reports of, procedure for submission, advice to FRBanks 9/ 4 12h8 Direct purchase of Government securities, bill to make existing authority permanent, draft with recommendation for enactment sent to Chairmen of Senate and House Banking and Currency Comi/lo mittees ho 2/11 Legislation to make permanent, views of FAC requested 203 Request for permanent, advice to Mr. LtHeureux 321 3/ 3 Hearings before House Banking and Currency Committee of H. R. 2233, discussion of payment of portion of earnings of FRBanks to Treasury in connection with 349 3/ 7 Extension of authority for three years recommended by 3/11 383 FAC, discussion at meeting with Board H. R. 2413/ to authorize HBanks to purchase Government securities directly from Treasury, Board in favor of bill as passed by Congress, advice to Bureau of the Budget 4/24 633 Purchase of Government obligations by, amendment to Section 14(b), statement to be published in 5/2o 748 FRBulletin Banir examination policy, statement of Mr. Leonard submitted to Presidents for study before joint meeting 6/3 636 with Board Banking conditions in districts, report, comments requested 4/28 649 on certain points in next Banking quarters: Construction projects, no objection to necessary alterations involving expenditure around $100,000, 1/27 123 statement of Chairman Eccles Budget: Annual, submission to Board to be resumed, on form 634a, 2/)4 instructions to FRBanks 16h To be reviewed by Board Member and Divisions of Bank 166 Operations and Examinations, discussion of 2/b To be submitted to Board not later than July 1, 1947 3/14 405 Form FR 634a, instructions re, copies to be sent to FRBanks 4/10 546 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FRBa 157 Pages nks: (Continued) Budget: (Continued) Bank examination function apnroved for 1947 after discussion, subject of examination policy to be placed on agenda for next meetings of Chairmen's and Presidents t Conferences 3/28 474 Luncheons, dinners, entertainment, etc., expenses to be included in general budgets 2/ 4 168 Statistical and anayltical function for 1947 approved, additional information re research departments to be obtained before submission of 1948 budgets 3/ 7 343 Budget for 1947, to cover last half of year only, advice to FRBanks 682 5/ 5 Budgets for 1948 approved, additional information requested in some cases, date of submission changed to October 1, advice to FRBanks 12/19 1803 Budgetary procedure, suggestions from Presidents to be turned over to Committee on Expense Accounting and Division of Bank Operations to discuss matter ivith Committee 4/15 583 Cafeterias, absorption of expenses, to be discussed at Presidents Conference 2/ 4 169 Absorption of, statement of policy to be sent to FRBanks after decision on travel expenses for Board and staff 3/14 406 No change to be made in authorization at present, question of free meals and charges for meals for employees, including cafeteria employees, to be discussed at Presidents Conference, views of Mr. Sproul requested 5/16 740 Reduction in authorization from 50% to 25% effective January 1, 1948, view of Board to be stated 5/23 at Presidents Conference 791 Reduction to 25% by 1948, discussion at Presidents Con6/ 6 ference 885 Question to be referred to Mr. Vardaman for study and report to Board Mr. Hennessy to be invited to luncheon to discuss operations, Presidents to be invited to attend Discussion at Presidents Conference of reduction and of employment of experts to study question, Presidents not in favor of, subcommittee to submit report by next meeting of Presidents Conferer= 7 ,3v 1, , Char ci p-offs, authority to make, for 1947 °Bing of books for year, procedure to be followed, advice to 12/23 1825 Des4 -1-gnat1on of reserve cities, threatened suit by Mr. Stoddard, alternative actions to be submitted to 6/20 961 1) • ividends, semiannual payment for first half of 1947 approved 6/23 972 Semiannual payment for last half of 1947 authorized 12/29 1838 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 158 FRBa., Pages (Continued) Earnings: Accrual of, adoption of uniform basis, views of Presidents requested re plan 4/15 Interest rate to be paid Treasury on FRnotes to absorb excess, Mr. Eccles to discuss with Treasury 2/ 4 Payment of portion to Treasury, discussion of various methods at Presidents Conference 2/28 Payment of portion to Treasury, discussion in connection with hearings before House Banking and Currency Committee of H. R. 2233, no conclusions reached 3/ 7 Earnings and expense reports, procedure for uniform basis for treating accrual of earnings 6/19 Earning and expenses for 1947 12/29 Examinations of RFC-Custody Divisions, regular examinations by RFC to be discontinued, no objection 9/ 9 Examinations • for 1948, Mr. Leonard authorized and directed to conduct 12/15 ExPenditures, Presidents to be advised of Board's position at joint meeting 2/27 Fair Labor Standards Act, app.licability to, discussion in connection with threatened suit against FRBank of Chicago by former employee of Detroit Branch 4/15 Job evaluation and personnel classification plan, discussion at Philadelphia meeting, plan to be sent to Presidents and report to be ready for discussion at Presidents Conference, statement of Mr. Nelson 1/27 Personnel consultants employed by, to be invited to meet with Personnel Committee and other Board mem1/27 bers prior to Presidents Conference Presidents to be advised of Board's position at joint 2/27 meeting New plan to be put in effect by July 1, discussion at 2/28 Presidents Conference Discussion of policy re wage scales, further discussion 6/ 4 to be held before Presidents Conference Advice to FRBanks re salary structures and status of studies on job evaluation and classification 6/17 Plan approved, letter to FRBanks commending work, new plan to be effective when new wage structures are adopted and approved 8/12 Leave Policies, study to be made, including question of accumulation of annual leave and payment in event of death or separation from service, discussed in connection with case of Mr. Davenport, former Assistant Cashier at Oklahoma City Branch 2/25 Leave schedule, officers and employees, to be developed by Presidents Conference Committee in consultation with Mr. Nelson for consideration by Presidents Conference and Board 3/ 5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 584 168 310 346 948 1838 1263 1766 269 575 125 126 269 281 845 933 1169 257 330 159 anks: (Continued) Pages Leave schedule: (Continued) Annual, sick, and other leave, schedule for, discussion at Presidents Conference, problem to be studied by personnel officers of Banks and Board's staff and report to be submitted 6/ 6 872 Plan for uniform schedule to be transmitted by Mr. Nelson to personnel officers of FRBanks for consideration at meeting in fall of 1947 8/ 7 1147 National Labor Relations Act, excepted under, discussion at Presidents Conference, Banks to attempt to comply with provisions of Fair Labor 6/ 6 Standards Act 879 °vertime, restrictions on payments to exempt employees 3/19 terminated 423 Pay days, frequency of, Presidents to be advised of Board's 2/27 269 position at joint meeting Frequency of, bi-weekly or weekly basis favored if possible to work out satisfactorily, discussion 2/28 at Presidents Conference 282 Postal money orders, procedure for handlingl no change to be made in present practice, advice to Mr. Lawler, Post Office Department 8/ 5 1137 Presidents: Designation of reserve cities, proposal to be submitted to 7/11 1047 Protective facilities, letter to FRBanks re completion of recommendations to be sent to survey by FRBanks and report to be made re action in 8/ 4 1134 connection with Recommendations of FBI, discussion at Presidents Conference, continuing attention to be given to 10/ 7 1399 matter Re imbursement of direct sending banks for shipping costs, recommendations of Presidents Conference approved, FRBanks to be notified of effective 6/ 6 865 date Re imbursement of member banks for postage or other transportation costs on cash items routed direct to FRBanks and branches, information sent to 6/26 986 Reimbursement for expense of "service units", continuation of policy, recommendation of Presidents Conference approved unless amounts requested by 6/ 6 Treasury should become controversial 867 Re lations with Board, Presidents to be advised of Board's position at joint meeting 2/27 269 Advance notice re amendments and other material to be released to press, discussion at Presidents Conference of procedure to be followed 2/28 294 Advance notice of non-confidential matters to reach FRBanks as early as possible 3)46 3/ 7 FRB http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis F1113,0_ 9441&e: (Continued) Relations with Board: (Continued) Compared with that of Bureau of the Budget, General Accounting Office and Civil Service Commission to other departments and agencies of Government, statement of Chairman Eccles re at FAC meeting RePorts and surveys, regular and special statistical, number to he reduced as much as possible, discussion at Presidents Conference Rob}, -erY, precautions against, Presidents to be advised of Board's position at joint meeting Survey to be made by FBI of practices of FRBanks in handling money and securities, and educational campaign to be conducted among member banks S alaries: Classification plans, subject assigned to Personnel Committee until completion of work, after which assignment to revert to Mr. Vardaman Matter of scales and variation referred to Personnel Committee for study and recommendation before Presidents Conference Discussion at Presidents Conference of progress made, further study to be made to reach 25% variation 160 Pages 9/23 1310 6/ 6 883 2/27 269 2/28 302 5/23 787 5/23 788 6/ 6 867, 888 Discussion of draft of final report, Personnel Committee authorized to approve plans and upon completion of uniform plan letter to be sent to FRBanks commending work and recommending narrowing of spread between highest and lowest. j/22 salary structures adopX-9532, with letter statement in Cancellation of tion of new plan of job classification, advice 9/ 4 to FRBanks Classification plans, available to member banks, 9/23 statement of Chairman Eccles at FAC meeting Officers, letter to FRBanks stating views of Board to be 3/25 prepared Salary classification plan or formula for, adoption suggested by discussion of officers' salaries 3/25 at New York and Chi.cago Banks 3/28 Letter to FRBanks stating views of Board re 4/ 4 Senior officer, discussion of Acknowledgment of letter from FRBank of San Francisco 5/27 re Board's views on Discussion of quality of management and salary situa9/23 tion at meeting of FAC with Board Discussion at Presidents Conference in connection with adoption of personnel classification plans, increases for junior officers to be considered, but adjustments for senior officers to be sub10/ 7 mitted at tir of regular annual review http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1084 1246 1311 461 461 483 517 802 1307 1387 161 Pages PRBa,,_ "As: (Continued) Salaries: (Continued) Officers: (Continued) Change in date for submitting, suggested by Mr. 12/19 Vardaman S. 828, to extend authority to purchase securities directly from Treasury, report in favor sent to Chairman of Senate Banking and Currency Committee 3/2)4 To continue authority for direct purchases of securities from Treasury, to be brought up in Senate this 4/15 week Staff: Officers, discussion of quality of management and salary 9/23 situation at meeting of FAC with Board Official, changes in business affiliations and assignments to be reported to Board currently, advice to 10/14 FRBanks Retentions in active service, compensation for more than 90 days after age 65 not to be more than salary less retirement benefits, FRBanks to be 12/ 5 advised Schools of banking, attendance of officers and employees, discussion in connection with question of Central States School of Banking and Pacific Northwest School of Banking, letter re to be 1/27 revised for further consideration Attendance of officers and employees of FRBanks, policy of Board re expenses and leave of 2/ 3 absence, advice to FRBanks Stock held and FRBanks old to in FDIC, new certificates sent 3/ 7 ones returned to FDIC Travel expenses, schedule of maximum allowances, to be considered after information obtained from Office of the Comptroller, FDIC, and RFC re allowances, and after Board consideration of reduction in 2/ 7 allowances for Board members and staff Schedule to be established, matter to be placed on agenda for Presidents' Conference, letter to Mr. 5/ 8 Sproul Schedule and reimbursement policy discussed, question to be referred to Mr. Vardaman 8/ 7 Draft of letter to Presidents to be circulated to members of Board 9/30 Letter sent to Presidents for discussion at next confer10/ 3 ence of Presidents Schedule and reimbursement policy, discussion at Presidents Conference, Presidents not in favor of, lo/ 7 Board to make decision re Schedule for maximum allowances, no action to be taken until information prepared by examiners for one year compiled, revised letter to be pre10/17 pared for consideration by Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1803 452 572 1307 1429 1692 115 159 354 182 694 1143 1345 1360 1395 14141 162 Pages PRBulletin: Article on instalment credit by banks, publication suggested 10/ 8 by Mr. Wegner C in published be to ancellation of stock of FDIC, statement 8/11 August issue Cessation of Procand President Hostilities, statement by the lamation 2714, statement re to be published in 1/ 7 January issue Common trust funds, acquisition of interest in participations,7/23 statement to be published in August issue Operation as investment trust, statement to be published 8/25 in September issue Consumer credit, authorization to continue Regulation, state8/11 ment to be published in August issue Automobile appraisal guides, statement to be published in 5/20 June issue Automobile license taxes and fees, statement to be pub2/27 lished in March issue Conviction for violating Regulation W, statement to be pub4/22 lished in May issue Kitchen cabinets, not to be considered as furniture, 2/ 3 ruling to be published in Kitchen cabinets, statement to be published in March issue2/27 Sets and groups of articles, statement to be published 2/27 in March issue Status of rulings under Regulation W made prior to Revision of December 1, 1946, statement to be pub2/27 lished in March issue FRBranch Bank buildings, cost of, statement to be published 8/11 in August issue P°reign funds control: Treasury Department Regulation, statement to be published 1/23 in February issue published be to statement Treasury Department releases, 1/23 in February issue of 2/27 issue March Statement to be published in issue May in published Statement to be /2 1/2 Statement to be published in January issue • M argln requirements for purchasing securities, Supplements to Regulations T and U, statement to be pub1/23 lished in February issue in published be to statement Borrowing of securities, 7/23 August issue urchase of Government obligations by FRBanks, amendment to Section 14(b), statement to be published in 5/20 June issue Pu rchase of International Bank Debentures, statement to be 6/24 published in July issue Th.Regulation (See supra Consumer credit) "eserves, classification of reserve cities, statement to be 12/22 published in January issue statement to be banks, sales of mortgages by State member 5/20 published in June issue http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1409 1165 20 1096 1214 1165 748 272 617 157 272 272 272 1165 103 103 272 617 1819 103 1097 748 979 1819 748 163 PRaial . ,4-euln: Pages (Continued) olit regarding condition of membership, Peoples Bank v. Eccles, et al., statement to be published 4/22 in May issue Suit regarding removal of bank directors, statement to be 1/ 7 published in January issue Termination of licensing of member banks, Presidential proclamation, statement to be published in May 4/22 issue Federal Reserve Charts on Bank Credit, Money Rates and Business to be published on monthly basis and subscription price fixed 3/24 der 'Aeral Reserve exchange drafts, changes in wording suggested by 12/ 9 Presidents of FRBanks ?Rnotes: Pak of Atlanta, supplemental order for printing 9/18 f.atBank of Boston, supplemental order for printing 5/ 5 "aank of Chicago, supplemental order for printing 5/21 9/24 Supplemental order for printing IZBank of Cleveland, supplemental order for printing 1/ 3 'ItBank of Dallas, supplemental order for printing 5/ 9 9/ 8 Supplemental order for printing 10/27 Supplemental order for printing 29ank of Kansas City, supplemental order for printing 5/21 'ZBank of St. Louis, supplemental order for printing 10/21 .',. 1tBank of San Francisco, supplemental order for printing 1/21 Interest rate to be paid Treasury on those not secured by gold certificates, to absorb excess earnings of FRBanks, Mr. Eccles to discuss with Treas2/ 4 ury 2/28 Discussion at Presidents Conference Action not to be taken until after meeting of Chairman Eccles with Treasury, press statement to be sent to Mr. Sproul for suggestions, verifications of computations to be obtained from 4/11 FRBanks re payments to be made to Treasury 4/23 Establishment approved, advice to FRBanks Press statement re to be sent to member banks if desired, 4/24 advico to FRBanks Letter from Mr. Spahr to FRBanks re, telegram to FRBanks suggesting that reply state approval to matter 7/22 rested with Board Confidentiality of discussions between Board and Presidents stated in reply to inquiry from Mr. 7/23 Spahr, advice to FRBanks Establishment for three months period ending June 30, 7/30 advice to FRBanks Establishment for three months period ending September 30, 10/27 advice to FRBanks P . rinting requirements for 1948, order placed with Bureau of 6/19 Engraving and Printing http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 617 21 617 454 1717 1286 682 775 1325 10 701 1260 1487 775 1471 96 168 310 558 618 633 1089 1096 1115 1485 950 164 Pages Federal Reserve Policy, postwar pamphlet No. 8, publication authorized 11/26 PRSYstern: Films to be used as educational project, authorization to FRBank of Cleveland for expenditure deferred 10/17 Its Purposes and Functions, printing and distribution of booklet authorized 6/24 Publication on purposes and functions, letter to FRBanks on 9/10 number of copies desired Federal savings and loan associations, H. R. 2800 to amend section 5 of Home Owners' Loan Act of 1933 and broaden lending authority of, report recommending 7/30 pocket veto sent to Bureau of the Budget S. 1176, to extend lending power of, enactment opposed by 6/13 Board, report to Senator Tobey Federal Savings and Loan Insurance Corporation: S. 1178, to reduce premium rate for insurance by, enactment 6/13 opposed by Board, report to Senator Tobey Small Business Corporation, S. 1740 to establish, Board not in favor of enactment, report sent to 10/ 1 Senator Tobey Federal Works Agency: Vault construction, information to be obtained from Mr. Pees: Reynolds, Public Buildings Administration 10/27 Attorney's fee incurred by FRBank of Atlanta as agent for War Department in connection with guaranteed war loan, approval of payment requested in letter 8/29 to Secretary Royall 1)i-rectors of FRBanks and branches, schedule approved 2/ 7 joint at position Presidents to be advised of Board's 2/27 meeting Differential between head office and branch directors, 2/28 at Presidents Conference Members mbers of Federal Advisory Council to be under same schedule F4 2/ 7 as for directors -rgilson, Senator Homer, Regulation W, reply to telegram from Grand Rapids Used Car Dealers Association 1/27 sent to :19-x*.Y powers: 'arnett National Bank, Jacksonville, Fla., name of trust 10/24 investment committee immaterial Citizens' National Bank of Evansville, Indiana, application 7/ 9 approved zens National Bank of Orlando, Florida, application • approved 9/24 Collateral to secure uninvested trust funds, Presidents to be advised of Board's position at joint 2/27 meeting Cc)mmerce National Bank of Toledo, Ohio, application approved upon conversion from Commerce Guardian Bank, 5/ 6 Toledo, Ohio http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1672 1444 978 1268 1116 918 918 1356 1487 1240 183 269 301 183 134 1480 1032 1324 269 687 165 Pages Pi (111,arY powers: (Continued) uommercial National Bank of Kansas City, Kansas, application approved 1/ 8 23 Fayette National Bank and Trust Company of Uniontown, Penna., application approved 5/ 8 693 First and Peoples National Bank of Gallatin, Tenn., surrender approved 7/ 9 1031 First Citizens National Bank of Upper Sandusky, Ohio, authority to act as trustee for local municipal bond issues granted 3/13 398 First National Bank of Akron, Ohio, application approved upon conversion from First Central Trust Company, Akron, Ohio 2/27 271 First National Bank of Anchorage, Alaska, application for, form to be filled out and sent to Board, advice to bank and to FRBank of San Francisco 3/10 360 APPlication approved 5/ 1 672 First National Bank of Catawba County, Hickory, North Carolina, application approved 1/13 46 First National Bank of Eldorado, Texas, granted authority to act as executor and trustee of will and estate of d. A. Davis 10/ 2 1359 First National Bank of Mooresville, North Carolina, surrender approved 10/ 3 1369 First Savings Bank and Trust Company, Ravenna, Ohio, application approved 2/27 270 Ha rPeth National Bank of Franklin, Tennessee, application approved 9/ 8 1257 Ka nsas State Bank, Newton, Kansas, application for limited powers approved 1/ 7 14 Ma rquette National Bank, Chicago, Illinois, application approved 7/21 1082 Nebraska City National Bank, Nebraska City, Neb., surrender approved 662 4/30 Noy.w. --aY National Bank, Norway, Maine, supplemental application 222 approved 2/18 Old Colony Trust Company, Boston, Mass., application of section 17(c)(5) of Regulation F to three trusts under a will 3/10 365 Pen,, -v-Les National Bank of Lynchburg, Virginia, application approved 4/ 9 540 he--Lx National Bank of Providence, Rhode Island, application approved 12/24 1827 RiPleY County see Bank, Osgood, Indiana, application approved 8/19 11914 ity approved State Bank, Keota, Iowa, application 9/ 8 1258 State Bank of Escanaba, Michigan, application approved 10/10 1423 State Bank of Milan, Indiana, application approved 5/12 704 °n. Bank, Loogootee, Indiana, no objection to acceptance of guardianship of minor war veteran, but no other further fudiciary business to be acquired without permission of Board 5/26 798 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 166 Pages arY powers: (Continued) union National Bank of East St. Louis, Illinois, application upon conversion from Union Trust Company of East St. Louis, Ill. 1/27 Wheaton National Bank, Wheaton, Illinois, application made by Nheaton Trust and Savings Bank, approved 7/ 1 • Field) Killiam J., capital requirements for member banks to establish branches, reply to Congressman Sundstrom re letter 5/12 Finance company credit operations, Board to conduct national survey of volume of sales in cooperation with • FRBanks 11/17 '4.ua1 needs of industry, letter to Robert Morris Associates Fiscal discontinuing cooperative arrangement 11/19 agency expenses, discontinuance of reimbursement to FRBanks for expense of service units, recommendation of Presidents Conference approved 6/ 6 8-L agency operations: l'anch banks, question of transfer to head offices 2/11 Transfer of issue and redemption of war savings bonds to head offices, no objection to Treasury sending another letter to FRBanks asking for views, Board to consider matter further before final instructions from Treasury 4/ 8 C°sts, absorption of more, discussion to be continued at Presidents Conference 2/ 4 Chairman Eccles to discuss question with Treasury 2/ 4 Absorption of greater portion by FRBanks, to be discussed with Presidents before review with Treasury Department 2/1] Question of submission for consideration by Presidents Conference, Mr. Smead to discuss matter with Presidents Conference Committee on Fiscal 2/21 Agency Operations and Reimbursable Expenses FR Bank of Dallas, discharge of 39 employees, mostly from functions of 2/11 FRB aak of New York, to act as fiscal agent re bond issue of International Bank for Reconstruction and 7/23 Development, agreement approved Perp '°rmance without reimbursement proposed as means of channeling earnings of FRBanks to Treasury, discussion at Presidents Conference 2/28 Robert V., to be invited to join Board members and Presidents for golf and dinner at Burning Tree Country Club 9/26 increase in daily average amount of FRBanks if suggestions as to reduction in maximum time for deferment of credit are adopted 9/30 ;-1:1tributes: en, Robert L., former Senator and Chairman of Senate Banking and Currency Committee at time of passage of FRAct, approved for funeral of 7/21 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 133 1000 708 1564 1596 867 196 533 167 168 198 240 194 1096 310 1330 1341 1082 167 Pages Plorence, Fred F., President of Republic National Bank and Republic National Company and also Treasurer of City of Dallas, discussion in connection with applications for voting permits Foie 8/29 Y, Raymond M., bill to limit eligibility of mortgages or loans for insurance, guaranty, or purchase by Federal Agency, general indorsement by Board, • advice to 12/22 °reign accounts: Austrian National Bank, opening of account by MBank of New York approved 12/18 Banco Central de la Republica Dominicana, opening and maintenance of account by FRBank of New York approved 10/24 Central Corporation of Banking Companies, Budapest, Hungary, no objection to new letter of terms and conditions in form of usual standard letter, advice to FRBank of New York 7/24 °Aerations of foreign correspondents of FRBank of New York to conform to domestic monetary policy, progress of information re, Board to be kept advised of Porei developments 8/13 Bgn banking corporations: ankers Company of New York, New York: Condition report, call as of December 31, 1946 1/ 2 Call as of June 30 7/ 7 allase Bank, New York, N. Y.: Condition report, call as of December 31, 1946 1/ 2 Call as of June 30 7/ 7 Meyer, Harry J., appointed examiner of Board to participate in examination of 9/30 0_ 1.teport of examination sent to 11/12 iiA!ndition reports, call as of June 30 7/ 7 11 ' st of Boston International Corporation, Boston, Mass.: Condition report, call as of December 31, 1946 1/ 2 Call as of June 30 Pr 7/ 7 ench American Banking Corporation , New York: Condition report, call as of December 31, 1946 1/ 2 Call as of June 30 7/ 7 International Banking Corporation, New York, N. Y.: Condition report, call as of December 31, 1946 1/ 2 Call as of June 30 7/ 7 Granted extension of time to establish branch at Paris, France 7/ 2 14°r" 6an & Cie, Incorporated, New York, N. Y.: Condition report, call as of December 31, 1946 1/ 2 ?, Call as of June 30 7/ 7 4-gn banks. 448trian National Bank, opening of account by FRBank of New York approved Ban 12/18 ca Oltalia, Rome, credit by Bank for International Settlements, no objection by FRBank of New York, reply approved by Board 10/28 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1232 1818 1791 1484 1099 1176 1 1024 1 1024 1348 1546 1024 1 1024 1024 1 1024 1017 1 1024 1791 1490 Fojgn 168 Pages banks: (Continued) Banca d lItalia: (Continued) Credit by Bank for International Settlements, reply of FRBank of New York expressing no objection 12/19 approved by Board Banca Nazionale DIAlbanial Rome, Italy, gold reserves, Board 2/14 not to intervene on behalf of Banco Central de Bolivia, loan by FRBank of New York approved 3/21 subject to certain conditions Banco Central de la Republica Dominicana, opening and maintenance of foreign account by FRBank of New 10/24 York approved Banco Central del Ecuador, loans by FRBank of New York approved 5/ 2 subject to certain conditions Banco de Mexico: Pan American Trust Co. of New York, resale of shares taken over by Nacional Financiera and Banco Nacional de Comercio Exterior, information requested as 1/22 to status of matter Banco Nacional de Comercio Exterior, sale of stock of Pan American Trust Company of New York to private investors) advice to FRBank of New York 3/31 Bank of England, loan by FRBank of New York approved subject 4/18 to certain conditions Increase in loan by FRBank of New York approved, subject 8/15 to certain conditions Bank _°I France, loan by FRBank of New York approved 13 11/26 flit of Mexico, Mexico, D. F.: Pan American Trust Company of New York, sale of shares held by Nacional Financiera and Banco Nacional de Comercio Exterior to private investors, re4/16 to Mr. Novoa ply Bard, Polski, loan by FRBank of New York approved subject to 2/14 certain conditions Extension of loan approved 7/ 2 Extension of loan approved 9/ 5 Extension of loan approved 10/ 3 Extension of loan approved lo/15 12/ 5 Three months extension of loan approved Extension of three loans approved 12/ 16 Ban ue Centrale de la Republique de Turquie, loan by FRBank of New York approved subject to certain con9/24 ditions 8 Increase in loan or loans approved 10/10 anclue de Grece, three months extension of loan by FRBank of New York approved subject to certain condi3/21 tions Extension of loan approved 6/2o Extension of loan approved 9/19 E approved 12 /19 months three for xtension loan of Ce ral Bank of Turkey, credit by Bank for International Settlements, reply of FRBank of New York ex9/29 pressing no objection approved by Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1816 215 447 1484 678 100 493 611 1189 1674 598 214 1012 1252 1371 1434 1714 1771 1325 1425 448 964 1288 1815 1338 169 Pages ore --Lgn banks: (Contineud) Central Bank of Turkey: (Continued) Loan by Bank for International Settlements, matter to be placed on agenda at next meeting of N. A. C., letter of Chairman Eccles to Mr. 10/ 3 Glasser Loans by commercial banks on foreign-owned gold, issuance of 5/20 licenses to be discussed with Treasury ComTrust Nacional Financiera, sale of stock of Pan American pany of New York to private investors, advice 3/31 to FRBank of New York National of draft loan, for Bank of Nicaragua, application 3/ 4 letter from Mr. Sproul to, comments re ---Lgn funds: Nerations of foreign correspondents of FRBank of New York to conform to domestic monetary policy, progress of information re, Board to be kept advised 8/13 of developments r funds control: 7r-Lgn ading with the Enemy Act, section 5(b), retention favored by 3/ 3 Board, advice to Mr. L'Heureux Tr easury Department Regulation, statement to be published in 1/23 February issue of FRBulletin Tre asury Department releases, statement to be published in 1/23 February issue of FRBulletin 2/27 FRBulletin of issue in March published Statement to be FRBulletin of issue May in published Statement to be 1 4 121/2 S Statement to be published in FRBulletin for January g4 relationships of FRSystem: Ilador, statement of Mr. Grove re work as consultant to 8/20 Government of El S alvador, Mr. Wallich to visit on return trip from South 5/19 America, advice to Mr. V. Manuel Valdes Request for services of Messrs. Musgrave and Grove for study of fiscal system, not approved, reply 5/19 to Mr. V. Manuel Valdes Request for services of Messrs. Musgrave and Grove in connection with fiscal reform program of, 8/ 4 not possible to grant 4ans, R. M., authorized to visit South American countries in connection with agricultural problems and to call at central banks to strengthen Board's 7/22 association with authorities India, 4ter, John, return from Manila via Hong Kong, Siam, and Europe approved, Board to share expenses 4/15 with State Department Return trip from Manila via Pacific and Europe and expenses 4/16 authorized Grore instructions and adve, David L., mission to Ecuador, 3/ 7 vice to Mr. Navarro 6/13 Extension of stay in Ecuador authorized of by rank Officer, Granted National Order of Merit, with Government of Ecuador, decoration to be held 11/ 5 in custody of State Department at present http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1370 750 493 328 1176 320 103 103 272 7 1119 1205 744 744 1132 1087 572 591 341 909 1527 Fore. 170 Pages relationships of FRSystem: (Continued) Informal Policy Group on Foreign Interests: Gold, international traffic at premium prices, proposed press statement to request American banks to refrain from facilitating, memo re sent 7/ 2 1018 to Secretary of Treasury for comments Latin visit America, trips of Messrs. Knoke and Wallich to central banks of Peru, Bolivia, Chile, Argentina, Uruguay, Paraguay, and Brazil approved, visits to Central and South America to be 2/25 260 deferred FhiliPPine currency program, letter stating views of Board sent to Secretary of the Treasury after re4/11 560 ceipt of letter from Mr. Randolph Burgess Ph illPpine Government, Messrs. Grove and Exter to assist in 12/19 1808 organization of central bank Staff Group on Foreign Interests, representation from FRBanks at meetings, plan approved subject to certain 136 1/27 qualifications, advice to Mr. Sproul First meeting postponed, advice re future meeting to be 3/11 394 sent to FRBanks Visits to central banks of South and Central America and possibly Mexico by Messrs. Sanford and Moore of 8/ 1 1128 FRBank of New York approved 4-1-gn trade: s. 414, government system of export credit insurance, Board not in favor of enactment, report to Senator Forza. Tobey 4/ 2 499 PRexchange draft, change suggested by Mr. Peyton and any other desired changes referred to Committee on Opera7/ 2 tions, advice to Mr. Peyton FR 34, advance of loan to employees at FRBank of Atlanta, 4/11 to be included on Procedure for reports in connection with closing of books 12/23 at end of year FR 1nr 4/ 7 condition reports, revised form approved Change made for reporting reciprocal balances of private banks and bankers, copy sent to FRBank of New 5/26 York PR 45, FR 105a, FR105b, FR 105e, FR 105e-1, and FR 105j, condition reports of State member banks, copies and instructions sent to FRBanks for next call 6/ 2 date 10 10510, 105e, 105e-1, condition reports of State member banks, forms and instructions sent to FRBanks 8/15 next call date for PRinr 105b, 105e, 105e-1, and 105k, condition reports of State member banks, forms and instructions sent to 11/21 FRBanks for next call date PR 1 07, earnings and dividends reports of State member banks, forms to be sent to FRBanks for 19147 report 12/ 9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1018 566 1825 526 797 829 1188 1629 1728 Forfts: 171 Pages (Continued) FR 107b, earnings and dividends reports, forms and instruc6/ 9 tions sent to FRBanks for semiannual report FR 220, reports of affiliates: Merchants & Newark Trust Company, Newark, N.J., affiliate reports covering J. S. Rippel & Company, Guaranty Company of New Jersey, and Securities Company of New Jersey, requirements for 3/24 submission waived FR 220, FR 220a, FR220b, affiliate reports, copies and instructions sent to FRBanks for next call date 6/ 2 Forms and instructions sent to FRBanks for next call date 8/15 Forms and instructions sent to FRBanks for next call 11/21 date FR Li endperiods cover FRBank summary reports, change to ing on Thursdays, proposed in amendments to 4/28 Regulation D, views of Presidents requested Semimonthly summaries of member bank deposits, reserves, and borrowings from FRBanks, no change to be 5/16 made at present PR 10-4, computation of reserve to be carried with FRBank by member banks, revised form re termination of exemption of war loan deposits from reserve 5/16 requirements, copy sent to FRBanks Change made for reporting reciprocal balances of private banks and bankers, copy sent to FRBank of 5/26 New York FR 416, weekly reporting member banks, revision, copy and in sent to FRBanks 3/ 5 PR 418, to be discontinued after 1947 for payments under sec12/23 tion 13b(e) of FRAct 111 437, annual reports of holding company affiliates: Instructions to FRBanks 12/15 Transamerica Corporation annual report, extension of time to March 1 granted for filing, but special arrangement for extension of time discontinued 1/24 in 1945 Transamerica Corporation granted extension of time for 12/24 filing annual report on Wisconsin Bankshares Corporation, Milwaukee, Wisconsin, annual report to be obtained, copies and in10/22 structions re PR 456, operating ratios of member banks, work sheets for 1947, to be sent to FRBanks upon completion 10/ 8 of printing PR 581, report of applications for guarantees of war loans, statement re changes to be discontinued, ad2/17 to FRBanks FR 634, revision to be made, reports to be submitted monthly for present, discussion at Presidents Con2/28 ference by Revision approved, to be available for distribution 4/ 1 April :15, advice to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 894 450 829 1188 1629 650 741 741 797 335 1824 1765 111 1828 103 217 273 497 172 Pages kmis : (Continued) FR 634: (Continued) Revised form, instructions re, copies to be sent to FRBanks 4/10 544 Functional expense reports, FR 96 and FR 34 to agree with revised form, advice to FRBanks 6/19 946 Submission quarterly rather than monthly, recommendation of Presidents Conference to be approved 12/ 9 1718 634a, annual budget of FRBanks, submission to be resumed, instructions to FRBanks 2/ 4 164 Annual budgets of FRBanks, instructions re, copies to be sent to FRBanks 4/10 546 FR 6 35, deposits, reserves, and borrowings, revision to eliminate item of war loan accounts, copy sent to FRBanks 7/31 1125 FR 644, copy with proposed revisions, sent to FRBanks 7/31 1125 International Bank for Reconstruction and Development, forms for commercial banks in reporting disbursements under letters of credit in connection with transactions financed by, to be distributed by FRBanks 6/24 978 ficial accounts of Government officers and agencies maintained with State member banks, information re to be obtained through FRBanks for Treasury, form to be prepared by three bank supervisory agencies and copy to be sent to Mr. Smead 8/ 4 1133 11°It Worth Clearing House Association, resolution adopted re reimbursement of member banks for postage and other transportation costs, reply to Mr. Smith and advice to FRBank of Dallas 8/19 1196 ?I'OZeri p 4-00d cabinets, applicability of Regulation W to plan for 5/ 2 676 financing use of °Ilau. expense reports, revised manual of instructions to be 406 effective July 1, 1947 instead of April 1 3/14 Re. vision of manual approved, copJes with FR 634 to be available for distribution by April 15, advice to FRBanks 4/ 1 497 Revised manual of instructions for preparation, instructions re, copies to be sent to FRBanks 4/10 544 PR 634, revised form, FR 96 and FR 34 to agree with, instruc6/19 tions to FRBanks 946 ange6 in dates for submission and instructions to be recommended by Presidents to alleviate difficulties, discussion at Presidents Conference10/7 1400 , Pol,m b341 submission quarterly rather than monthly, recommendation of Presidents Conference to be approved 12/ 9 1718 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 173 Pages Garey) Kissam Garey, attorneys, retained by Mr. Stoddard as counsel in connection with threatened suit re amendment to Regulation D 6/2o Gearhart, Bertrand W„ Regulation T, reply to inquiry from Mr. Charles R. Cooper sent to 1/23 General Accounting Office: Exazination of reports of 28 insured banks, request to FDIC for permission, Messrs. Leonard and Townsend to discuss matter with FDIC and Comptroller of the Currency 1/17 Request to FDIC for permission, Mr.Vardaman to meet with Comptroller of the Currency, Chairman of FDIC, Comptroller General, and representative of Treasury Department to discuss, reports of State member banks to be available under same terms as national bank reports by FDIC if necessary 1/27 To be made available under same terms as national bank reports by FDIC, advice to FDIC, prior to conference re 2/ 4 Availability in connection with audit of FDIC, discussion with Mr. Newman, arrangements for meeting with Treasury, Comptroller, and FDIC not completed 2/21 No to availability in connection with current review of FDIC operations, but not to be used for new review 11/17 Reo,, = ganization of bank supervisory agencies, discussion with Gerzan Mr. Newman re 2/21 04 Klemperer, Alfred, FRBank of New York, granted six-month leave without pay for services with military government in Europe, at request of War DeGiarthi partment 11/20 L. M. meeting with Secretary of the Treasury Snyder, Under Secretary of the Treasury Wiggins, and Comptroller of the Currency Delano, probable discussion of conversion of banks into branches, discussion in connection with proposed investigation to be made of Transamerica Corporation 10/31 Pi 4. rsu National Bank and Trust Company of New Haven,Conn,, account used for trafficking in, statement of Treasury and FRBoard to be brought to attention of holder and no positive action POrei to be made in support of gold operations 8/18 gn-owned, loans by American commercial banks on, policies re, topic for discussion at meeting of FAC /2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 960 102 74 117 171 241 1562 241 1600 1505 1192 679 174 Pages G°14: (Continued) Imports, statement of Mr. Eccles on prospective large 9/23 imports and effect on member bank reserves International traffic in gold at premium prices, proposed press statement to request American banks to refrain from facilitating, memo re sent 7/ 2 to Secretary of the Treasury for comments In ternational transactions at premium prices, statement by Treasury and Board requesting Americans to refrain from encouraging and facilitating, 7/22 copy sent to FRBanks for publicity by American commercial banks on foreign-owned, poliLoans-cies, discussion at meeting of FAC with Board policy group on foreign interests to make 5/20 recommendations to Treasury Problem of, reguTreasury revision of Gold Reserve Act and lations and reduction of handling charge on purchases and sales of gold recommended at 2/28 Presidents Conference, no action at present Tr topic prices, ansactions by commercial banks in at premium 5/ 2 for discussion at meeting of FAC group policy Eiseussion at meeting of FAC with Board, on foreign interests to recommend to Treasury 5/20 issuance of statement re 'rent agencies: xamination reports information available to, letter to FDIC 3/17 on policy of the Board as to furnishing Goer securities: thority of FRBanks to make direct purchase from Treasury, request for permanent, advice to MT. 3/3 L'Heureux -s offered directly to FRBanks by commercial banks, policy of purchasing at price to be determined daily by FRBank of New York, to be discussed at next 8/18 meeting of FAC, advice to Mr. Prochnow kstody of short-term securities for nonmember banks, termination of service approved as recommended by 6/ 6 Presidents Conference banks, nonmember for accounts custody Safekeeping of termination approved, instructions to FRBanks 6/18 Clas vody receipts of city correspondent banks, acceptance by FRBanks as collateral for loans to member 11/25 banks, procedure re, advice to FRBanks Direct purchase by FRBanks from Treasury, bill to make existing authority permanent, draft with recommendation for enactment sent to Chairmen of Senate and House Banking and Currency 1/10 Committees Legislation to make permanent authority for, views of 2/11 FAC requested http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1306 1018 1093 750 316 679 752 414 321 1193 866 940 1640 4o 203 175 Pages C"rnment securities: (Continued) R. 22331 to extend authority of FRBanks to purchase directly from Treasury, hearings before House Banking and Currency Committee, discussion of payment of portion of earnings of FRBanks to Treasury in connection with 3/ 7 Extension of authority for three years recommended by 3/11 FAC, discussion at meeting with Board from directly ' R. 2413, 4 to authorize FRBanks to purchase Treasury, Board in favor of bill as passed 4/24 by Congress, advice to Bureau of the Budget Issuance of long-term security to prevent further decline in long-term rate, topic for discussion at 4/16 FAC Issue and redenption of war savings bonds, transfer from 4/ 8 branches to head offices discussed Investments 1942, in issued statement in and loans on, joint re, no action to be taken in instructions to examiners, opinion of FDIC and Comptroller of 10/ 8 the Currency requested Long-term bond issue, refunding issue desired by FAO, dis3/11 cussion at meeting with Board PremlUfllS on bonds, pressure by examiners of national banks on banks to write off, effect on sale of bonds in market, Mr. Clayton to study matter 12/19 and make recommendation Purchase of Government obligations by FRBanks, amendment to Section 14(b), statement to be published in 5/20 FRBulletin PUrchase of new Treasury bond issue by commercial banks, approved by FAC although contrary to policy of reducing volume of Government securities held by commercial banks, discussion at FAC meeting 9/23 with Board Reflladin rr. bond issue, desired by FAC, discussion at meeting 3/11 with Board Refunding of Treasury securities and issuing rate on Treasury certificates, proposals of FOMC to be accepted by Treasury, statement of Chairman 10/17 Eccles S. 828, to extend authority of FRBanks to purchase directly from Treasury, report in favor sent to Chairman of Senate Banking and Currency Committee 3/24 To continue authority for direct purchases by FRBanks from Treasury, to be brought up in Senate this 4/15 week Sho rt-term, securities for nonmember banks, custody of, to be considered at Presidents Conference, delay of removal at FRBank of Chicago permissible if 5/16 desired http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 349 383 633 591 533 1411 387 1804 748 1312 387 1440 452 572 7141 176 Pages C*vernment securities: (Continued) Tender of matur:_ng bills in exchange for new bills issued by Treasury, approved by Secretary of the 4/23 Treasury Treasury bill policy, topic for discussion at meeting of 8/26 FAC, advice to Mr. Prochnow Treasury bills for commercial banks, purchase rate to be set daily by FOMC, suggestion of Mr. Spencer, to be discussed at next meeting of FOMC, advice 8/26 to FRBanks TreaSury deterbills, purchase by FRBanks at price to be mined, daily, discussion at FAC meeting of position of FRBank of New York in discouraging purchases, further information to be obtained before consideration of change in procedure 9/23 for System Treasury Bonds, 2-1/2 per cent, Investment Series A 1965, to be valued at par in examination reports, advice to FRBanks 9/17 Treasury certificates, rate on, no change in discount rate to be made until increase in, matter to be GO e considered at Presidents Conference 7/18 illment security market: oupport of, transition to be made to lower point, increase 12/17 in discount rate to be deferred because of 4achlat A , e School of Banking at Rutgers: -4ttendance by officers and employees of FRBanks, discussion in connection with attendance at other schools 1/27 of banking Atte ndance by officers and employees of FRBanks, policy of Board re expenses and leave of absence, 2/ 3 advice to FRBanks Prn,.. • -,i4oni, John C., granted leave with pay and to be reim1/30 bursed for expenses for attendance -0'on, Kenneth A., granted leave with pay and to be reim1/30 bursed for expenses for attendance Albert D., acceptance of nonpar items free of exchange by member bank in Baltimore, reply to inquiry 4arld ,, 7/18 re violation of Regulation Q 1%Pid5 Used Car Dealers Association, reply to telegram re, 4e 1/27 Regulation Vi sent to Senator Ferguson ater n,_. Chicago Used Car Dealers Association, Regulation W, reply to letter recommending elimination for good 1/30 of automobile industry seri Ilrcol'Harold C., Regulation W, reply to inquiry concerning liftocking of restrictions on consumer credit 4/ 4 Miss Manye, article re value of membership in FRSystem, 8/28 -ten , reply sent to b 3 ,tobert M., statement against S. 408 at meeting of executive committee of State Bank Supervisors 4/11 'IlrclY 'Dr. Charles 0., price level of consumer goods, study to be 8/ 8 made, details to be communicated to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 618 1216 1215 1293 1279 1066 1782 115 159 146 146 1077 134 149 520 1229 553 1161 177 Pages Le gislation to authorize admission as State, amendment suggested re membership of banks in FRSystem, comments requested from FRBank of San 7/25 Francisco Membership of banks in FRSystem, question in case of Statehood, memo and draft of letter to Congressional committee to be prepared for considera8/ 7 tion Compulsory membership of national banks upon admission as State, matter to be taken up with Messrs. Marl and Delano before action, letter to be 10/17 sent to Senate Committee on Public Lands Headquarters: R •fti Cooke, R. • .„ changed from Chicago, In., to Washington, 4/24 D. C. ilealY) Tho3. J., margin requirements, reply to letter re reduc9/30 tion k,onsumer credit legislation, to be held on June 10, Chairman 6/ 4 Eccles to make statement on Chairman Eccles to testify at hearings on bill re, statement re status and letter received from the 6/ 6 President and CurAppearance of opponents before Senate Banking rency Committee, statement of Chairman Eccles 7/ 2 re ding company bill (S. 829) by Senate Banking and Currency Committee, suggestion by Mr. Eccles that it 5/13 be postponed for a few days Industrial loans bill, report by Chairman Eccles on appearance before House Banking and Currency Committee in 6/ 4 connection with Joi.Lit Committee on Economic Report and Banking and Currency Committees on credit controls, Mr. Eccles to 11/17 appear before Chairman Eccles to appear before in connection with 11/18 credit controls proposed . Ju diciary Committee of House on Kefauver Bill, Mr. Townsend to attend and to present position of Board 3/1h if desirable Statement of Mr. Townsend to subcommittee on Kefauver 4/ 8 Bill Reserve city designation, to be held at Board before publication of formula, advice to FRBanks of districts concerned with changes, stenographic 11/21 record of proceeding to be made 12/17 Statement by Mr. Clayton re results of http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1103 1150 140 630 1350 842 880 1006 719 839 1559 1572 407 529 1610 1773 178 Pages liqtnes -8Y, John L., Hotels Statler Company, Inc., to be invited to luncheon to discuss cafeteria operations, 9/22 Presidents to be invited to attend To discuss cafeteria problems with Board at luncheon, 9/24 tation to Presidents --J, Oliver B., margin requirements on security transactions, 1/ 7 reply to letter re Res. Q3 Congressman William E., Regulation WI constitutionality of Executive Order during peace, reply to letter from 4/30 Mr. M. J. Bachrach sent to Riggins, Edgar T., Regulation W, reply to letter re continuation 4/16 of 110.dino, A mcompany b affiliates: linnual reports on Form FR 437 to be obtained, instructions 12/15 to FRBanks 13.." anuuhio Corporation, Columbus, Ohio, issuance of general voting permit to vote stock of First National Bank of Wilmington, Ohio, subject to certain condition 9/ 5 holding company problem, discussion of present status and possibility of bringing Attorney General 3/14 into discussions at Treasury Bank of America N. T. and S. A., branch at Manila, Republic of Philippines, order issued before Commonwealth of Philippines became a republic, 3/18 authority for establishment of Bank ohares Incorporated, Minneapolis, Minn., copy of report of examination to be furnished to Mr. Beatty, District Chief National Bank Examiner for con7/18 fidential information and use Vstate Corporation, Boston, Mass., examination reports, information to be furnished by FRBank of 7/10 Boston to Commissioner of Banks of Mass. C. W. H. Company, Incorporated, New London, Conn., determined not to be except for purposes of section 23A of 1/21 FRAct zarriinations by Commissioner of Banks of Massachusetts, FRBank of Boston authorized to furnish information re Baystate Corporation and Shawmut Corporation, information from reports of examination of national banks to be obtained from Comptroller of the Currency or District Chief 7/10 National Bank Examiner in Boston -calcial Institutions, Inc., Warsaw, New York, issuance of limited voting permit to vote stock of Wyoming County Bank and Trust Company, Warsaw, New 1/15 York, approved ?ill8t Bank Stock Corporation, Minneapolis, Minn., issuance of general permit to vote stock of First 1/ 3 National Bank of Cloquet, Minn., approved Report of examination, copy to be furnished to Mr. Beatty, District Chief National Bank Examiner, for 10/10 information and use confidential http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1289 1324 15 663 595 1765 1252 409 420 1079 1036 94 1036 65 8 1422 179 Pages company affiliates: (Continued) ''Lr8t Farmers and Merchants National Bank of Troy, Alabama, determined not to be except for purposes of section 23A of FRAct 12/31 First National Bank in Dallas, Texas, issuance of general permit to vote stock of American National Bank of Oak Cliff, Dallas, Texas, approved, subject to certain conditions 4/25 First National Bank of Tampa, Florida, status, question to be reconsidered because of change in situation 5/29 Determined to be under section 2(c) of Banking Act of 7/22 1933, reversing previous decision Rescinding of determination re status with Union Security & Investment Company, Tampa, Fla., copies sent to Comptroller of the Currency 11/20 Determined not to be except for purposes of section 23A of FRAct 12/ 5 First National Securities Company in Dallas, Texas, issuance of general voting permit to vote stock of American National Bank of Oak Cliff, Dallas, Texas, approved subject to certain conditions 4/25 F irst Security Corporation of Ogden, Utah, annual report for 1946, reply to Mr. Volberg re form of 8/13 Genesee Corporation, of American National Bank of Miami, Florida, necessity of obtaining voting permit to vote for consolidation of American National Bank of Miami and First National Bank of Miami, Flordia 5/1)4 Illtormation re, general question to be considered by Mr. Han, FDIC, and Governor Clayton, suggestion in connection with request for information re Trust Company of Georgia Associates of 6/23 Atlanta, Ga. General question to be considered in preliminary discussions by Mr. Sailor, FDIC, and Mr. Leonard, or in his absence, Mr. Millard 7/9 Legi slation, advice of FAC re general attitude toward, 2/11 requested Reference to in connection with question of anti-trust proceeding against Transamerica Corporation, 2/25 letter to Attorney General Clark approved 'Pinions of FAC to be given by May meeting, statement 3/11 of Chairman Eccles re status of bill 0• Pinions of FAC to be given at May meeting with Board 4/16 °. 829, to provide for control and regulation of bank holding companies, and for other purposes, report to Chairman of Senate Banking and Currency Committee 4/17 Bank holding company bill, topic for discussion at 5/2 FAC meeting http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1846 637 827 1091 1603 1707 638 1172 726 969 1034 203 251 385 590 601 679 180 11(24i ng companyaffiliates: (Continued) Legislation: (Continued) S. 829, hearings to be postponed, Chairman Eccles and Mr. Townsend to meet with holding company groups to discuss proposed amendments to Pages 5/13 S. 829, discussion at meeting of FAC of proposed amendments suggested by Council and Association of Reserve City Bankers, resolution stating views for use at hearing to be considered at 5/20 separate meeting of FAC Suggestion of Mr. Thomson, President of Northwest Bancorporation, endorsed by Reserve City Bankers and FAC, letter to Secretary of the Treasury 5/22 requesting approval 5/23 Amendments approved after explanation by Mr. Townsend S. 829 and H. R. 3351, review of present status by Chair6/ 6 man Eccles at Presidents Conference Letter to President re importance of action at present 6/10 session of Congress Report by Chairman Eccles on status 6/17 Regulation D, amendment to be deferred during considera7/11 tion of bill Passage prior to adjournment of Congress not likely because of request of Transamerica Corporation to testify before House Banking and Currency Committee, statement of Chairman Eccles 7/18 S. 829, passage favored by FAC, review of legislative situation by Chairman Eccles at meeting of 9/23 FAC with Board Present status of bill reviewed by Chairman Eccles at 11/18 meeting of FAC with Board Lelitr4 --Ls Investment Company, Kansas City, Missouri, submission of report and listing of affiliates on 8/ 1 "0", form FR 105b, not required Schedule Mar; -,ne Midland Corporation, absorption and establishment of branches by Northern New York Trust Company, Watertown, New York, further applications not to be made on basis involving reduction of 3/20 invested capital lon National Bank and Trust Company, Pittsburgh, Pa., granted limited permit to vote stock of Farmers 1/13 Deposit National Bank of Pittsburgh, Pa. Determined not to be holding company affiliate except 8/14 for purposes of section 23A of FRAct Determined not to be, eligible to vote in election of 9/26 director at FRBank of Cleveland Determination not to be holding company affiliate of Farmers Deposit National Bank of Pittsburgh, 11/20 copies sent to Comptroller of the Currency http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 719 760 778 779 893 899 932 1048 1065 1313 1590 1129 439 47 1180 1334 1602 181 Pages 11°14ing company affiliates: (Continued) National Shawmut Bank of Boston, Mass., issuance of general permit to vote stock of three national banks approved 1/10 Northwest Bancorporation, bank holding company legislation (S. 829), suggestion of Mr. Thomson re 5/22 Re National Bank of Dallas, Texas, issuance of limited permit to vote stock of three national banks approved 1/10 Re National Company, Dallas, Texas, issuance of limited permit to vote stock of three national banks approved 1/10 Application to vote stock in affiliated banks, not to be approved until additional capital funds provided or other arrangements for holding bank stocks now carried with City funds are made 8/29 Sc Corporation, Froid, Montana, determined not to be except for purposes of section 23A of FRAct 1/24 ShaNmut Association, Boston, Mass., issuance of general voting permit to vote stock of three national banks approved 1/10 Issuance of general voting permit, Mr. Edward S. Stimpson to be advised re 1/14 Examination reports, information to be furnished by FRBank of Boston to Commissioner of Banks of 7/10 Mass. S • ucusion J. Serralles, Ponce, Puerto Rico, determined not to be except for purposes of section 23A of FRAct 10/10 Tra nsamerica Corporation: Annual report to be filed on FR 437, extension of time to March 1 granted, but special arrangement for 1/24 extension discontinued in 1945 Assets, readily marketable, information re compliance with requirements to be requested by FRBank of 11/12 San Francisco Expansion, monopolistic aspects, investigation recommended by Mr. Townsend to be made by Legal Division, letters to be sent to Attorney General, Comptroller of the Currency, and Chairman of FDIC, Chairman Eccles to discuss matter with Under Secretary of the Treasury Wiggins 10/31 if desired Granted extension of time for filing annual report on 12/24 FR 437 Question of anti-trust proceeding against, letter to Attorney General Clark requesting opinion re 2/25 Voting permit requested to vote stock of First National Bank of Arizona, Phoenix, Ariz., to be considered by Board, but further information in letter requested 10/10 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 36 778 37 37 1231 109 34 58 1036 1420 111 1547 1505 1828 250 114214 182 Pages Rold ing company affiliates: (Continued) Transamerica Corporation: (Continued) Voting permit: (Continued) Issuance of limited voting permit to vote stock of First National Bank of Arizona, Phoeniz, Arizona, approved 11/ 5 1529 Trust Company of Georgia Associates of Atlanta, Georgia, information requested by FDIC re, letter to FDIC suggesting that Governor Clayton and Mr. Hanl consider general question of informa6/23 969 tion re holding company affiliates Union Security & Investment Company, Tampa, Florida, status, question to be reconsidered because of change 5/29 827 in situation Determined to be under section 2(c) of Banking Act of 7/22 1091 1933, reversing previous decision Detemined not to be except for purposes of section 23A 12/ 5 1707 of FRAct United States National Corporation, Portland, Oregon, surrender of permit to vote stock of Clark County National Bank, Vancouver, Wash., not necessary as taken over by Seattle-First National Bank of 9/12 1273 Seattle, Wash. Vctin -g permits, issuance of general and limited, procedure to 361 3/10 be followed, advice to FRBanks 1602 11/20 w RC°Pies of lists sent to Comptroller of the Currency • • Reynolds & Company, question of relationship in connection with proposed consolidation of American National Bank of Miami and First National 726 5/14 Bank of Miami, Fla. Wi-c ()nein Bankshares Corporation, Milwaukee, Wis., annual report to be obtained on FR 437, forms and re instructions 10/22 1473 lidays : December 24) 1947, closing of Board's offices at 12:45 p.m. 12/12 1743 approved li°11arld, Senator Spessard Le, removal of limitation on cost of 3/25 FRBranch buildings, letter re sent to 466 44Pita lization: PRBank of Kansas City, expenditure approved for program with 2/ 7 189 exception of sponsored dependents of Minneapolis, expenditure for program approved, but cost of membership to be shared by Bank only 1462 for members of immediate family of employee 3/25 Helena Branch, surgical benefits of Montana Physicians' Serv5/12 ice to be available for, program approved 702 Little Rock Branch, change in membership of employees from Blue Cross Association of St. Louis to 12/ 5 1704 Arkansas Health Plan approved lities: Op -88ati0n of, statement by President, and Proclamation 2714, statements to be published in January issue 20 of FRBulletin 1/ 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rungary: C. L.„ profit policy for banks, reply to letter re establishment of Central Illinois: Corporation of Banking Companies, Budapest, no objection to new letter of terms and conditions in form of usual standard letter, advice to FRBank of New York 183 Pages 4/11 567 7/24 1099 Audit of certified statements submitted for assessment purposes by banks with deposits of $5,000,000 or more, letter to FDIC on program as experiment 1/16 Indebtedness and outside business relations: Aaniodt, John N., appointment as assistant examiner at FRBank of San Francisco approved, no objection to indebtedness to Bothell State Bank, Bothell, Wash., for loans to make improvements to home 6/25 %eland, Morris A., Special Consultant at Board, granted leave without pay to teach at Johns Hopkins University, after discussion of Board's policy re outside teaching connections 7/ 2 DOSs, Thomas E., Jr., appointment as assistant examiner at FRBank of Atlanta approved, indebtedness to national bank to be eliminated 2/ 5 POggs John J., Auditor at FRBank of Boston, connection with Frances E. Willard Settlement to be terminated within year, Mr. Creighton to be advised of no change in Board's position 1/17 . C onnection with Frances E. Willard Settlement to be terminated within year, further review of matter but no change in decision, letter to Mr. Creighton approved 3/14 Xing, Griffin Lewis, appointment as assistant examiner at FRBank of Atlanta approved, indebtedness to Bank of Camden, Tenn., nonmember bank, to be liquidated 10/24 Oakes appointment discusto succeed Mr. Musgrave, Ellgene sion, no objection to outside teaching acti10/21 vities, Mr. Thomas to negotiate with Officers of FRBanks, report of Mr. Millard re, discussion, matter to be placed on agenda for next Presidents' Conference 4/11 Discussion at Presidents Conference, existing situations to be reviewed by Board further 6/ 6 RePorts made by examiners of Board during past two years to be reviewed by Division of Examinations and report to be submitted to Board 3/14 Staff Of Board of Governors, annual statement to be submitted, Personnel Committee to submit procedure for 10/21 Annual report of outside business and teaching activities of employees in Group M and above, procedure and form approved 11/24 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 70 981 1007 176 73. 402 1479 1464 558 888 404 1465 1632 184 'fldebtPages e-ess and outside business relations: (Continued) ot-.ead, William H., Vice President at FRBank of St. Louis, no objection to part-time service with National Council of Economic Advisers to President Truman 3/ 5 332 Tenr4,4 --.4-ng connections, Board's policy discussed in connection with granting of leave without pay to Mr. 7/ 2 1007 Morris A. Copeland, Special Consultant T°Pic for discussion at Presidents Conference, letter to Mr. Sproul re 5/ 9 700 In% endent Bankers Association of Twelfth FRDistrict, in favor of bank holding company bill 11/18 1590 Grady, Henry F., appointment as Ambassador to, selection of successor as Chairman and FRAgent at FRBank of San Francisco considered 4/16 587 dit of certified statements submitted for assessment purposes by insured banks, experimental program of FDIC to be extended to Indiana, advice to FRBanks of Chicago and St. Louis 5/28 808 Bank credit expansion, reply to Mr. Eccles to statement of 11/26 Federal Advisory Council Bank credit policies during, joint statement to be issued by Federal and State bank supervisory agencies, to be revised by Mr. Clayton and to be discussed with Treasury representative before review with executive committee of National Association of Supervisors of State 11/17 Banks Fed eral Advisory Council to discuss situation with Chairman 9/23 Eccles at luncheon meeting Le,,4 6-1-slation, anti-inflation bill proposed in House, discussion of reserve requirements to be restored by, Chairman Eccles authorized to make statement re inflationary situation before Senate 12/15 committee Mcoftl. °")e, Thomas B., reply to letter suggesting means for checking, discussion of increased interest rates, etc., questions of policy within 5/23 jurisdiction of FOMC Pr, -gram to combat, issuance of statement re consumer instal10/17 ment credit to be made Increase in discount rates contemplated in connection with 10/17 Outlined by FOMC, statement re termination of Regulation W to be issued in connection with, Mr. 10/21 Thurston to prepare draft Recommendations re consumer credit regulation and special reserve plan to be made to President for presentation to Congress 11/ 5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1659 1560 1316 1761 809 1440 1440 1459 1523 185 Irifl,uion: Pages (Continued) S tatement of Mr. Eccles before Joint Committee on Economic Report on monetary and credit steps to deal with 11/26 1643 Inforrnation : Farmers and Merchants Bank of Long Beach, California, examination re Long Beach Federal Savings and Loan Association, transactions determined not to be illegal, advice to Department of Justice 2/ 5 177 Leaks re matters under discussion between Treasury and Board or FOMC, statement to staff on confidentiality of business of Board 7/ 2 1013 List cf reading material received by Secretary's Office to be sent to each Board member and material then to be sent upon request, procedure suggested by Chairman Eccles approved 7/11 1044 Official accounts of Government officers and agencies maintained with State member banks, information re to be obtained through FRBanks for Treasury form to be prepared by three bank supervisory agencies and copy to be sent to Mr. Smead Illetitute of 8/ 4 1133 Life Insurance, request for special tabulations of data from surveys of consumer finances 8/27 1219 Boardt . s liability for employees driving personal cars in course of employment, purchase approved 3/17 417 13 G1,T:ding of Board, fire insurance to be discontinued 11/ 7 1537 P life for employees of Board, amendments suggested to increase benefits, matter referred to Personnel Committee, Board to bear only nominal expense 7/11 1040 Nati°nal Service Life, reimbursement for cost of premiums, discontinuance to be discussed at Presidents Conference 7/18 1076 3. 4114, government system of export credit insurance, Board not in favor of enactment, report to Senator Tobey 4/ 2 499 Export credit insurance, mentioned in letter to Senator Tobey re S. 1740 10/ 1 1358 S. 548, to increase FDIC insurance from $5,000 to $151000, request from Clerk of Senate Banking and Currency Committee for, to be filed without reply 2/21 244 To insure bank deposits $15,0001 maximum Board up to of TrIt er Am . not in favor of, advice to Senator Langer 602 4/17 er lean Statistical Institute: keeti ng to be held in Washington September 6-18, Messrs. Thomas, Knapp, Gerschenkron, and Grove to be named as delegates 5/22 777 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Interest : Deposits, payment by Federal Home Loan Bank at Cincinnati and solicitation of transfer of funds from national bank, letter to Mr. Fahey Filnotes: (See FRnotes) l'aYment on certificates that expired during war, letter from Mr. Tougias, and views of Board as payment Interlocking directorates: tol) Bracken, T. A., Jr., service as vice president and trust officer of Real Estate Trust Company of Philadelphia and as director of Pennsylvania Warehousing and Safe Deposit Company, Philadelphia, not permissible under Regulation L Brown, Prentiss M., Director at Detroit Branch, resignation considered because of election as director of National Bank od Detroit, to continue service until expiration of term at end of year No thern National Bank at Presque Isle, Maine, and Washburn Trust Company at Washburn, Maine, not contiguous or adjacent under Clayton Act, telegram to FRBank of Boston %national Bank for Reconstruction and Development: "rms for commercial banks in reporting disbursements under letters of credit in connection with transactions financed by, to be distributed by FRBanks RounA -vs, L. R., fiscal agent for, current information re duties, requested Bee • urities to be offered by, Treasury issue should not interfere with FRBank of New York to act as fiscal agent re bond issue of, agreement approved Iriternationai Business Machine tabulation equipment, continued lease for 8 months approved 8quiPment, to be leased on continuing basis and responsibility of operation to be transferred from Division of Research and Statistics to Division of Administrative Services C°Urses in use of mechanical equipment, advice to FRBank of Chicago re selection of Board representatives LI+ to take " 610nal Monetary Fund and International Bank for Reconstruction and Development: An/p., Conference of Governors to be held in London, Mr. Knapp authorized to attend in place of Mr. Eccles and to visit other countries in Europe http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 186 Pages 2/26 266 3/24 454 8/19 1195 7/18 1077 1/8 23 6/24 978 6/25 983 3/11 390 7/23 1096 4/28 652 7/15 1057 8/12 1168 6/20 959 Inv entories: Consumer goods, accumulation of, statement of Chairman Eccles in 1942 re, elimination from reports of examination of State member banks planned, opinions of FDIC and Comptroller requested Accumulation of, advice to FRBanks Joint statements by bank supervisory agencies to discourage unnecessary purchase of goods and accumulation of inventories in excess of minimum requirements, no action re further statement to be taken by Board ii/‘iestalent of funds of Retirement ystem, amendment to rules and regulations approved illvestment Policies of retirement system, proposed changes to be discussed at meeting with Presidents 8tanent securities purchase by member banks, reply to Mr. Arthur H. Dean on bonds of Kingdom of Norway .: 101,18 187 Pages 10/8 10/28 1411 1489 7/2 1011 10/17 1447 12/5 1696 6/19 949 Alldit of certified statements submitted for assessment purposes by banks with deposits of $5,000,000 or more, letter to FDIC on program as ex70 1/16 periment by, suggested reduction 8) N. Leonard, margin requirements, 12/11 1740 reply of Chairman Eccles to Jeffe_ rson National Expansion Memorial Association: , jolo ontribution by FRBank of St. Louis, additional not approved 198 2/11 :nluation and classification: -eAEank of Kansas City: Lohmann, M. R., consultant, employment by board on temporary basis approved, compensation to be on daily basis and traveling expenses to be paid 236 2/21 by Board FRBanks to sent to be meeting plan discussed at Philadelphia Presidents and report to be ready for discussion at Presidents Conference, statement 125 1/27 of Mr. Nelson Personnel consultants employed by FRBanks, to be invited to meet with Personnel Committee and other Board 1/27 126 members prior to Presidents Conference Presidents to be advised of Board's position at joint meeting 2/27 269 4scussion at Presidents Conference, new plan to be put in effect by July 1 4scussion at Presidents Conference of progress made, further study to be made to reach 25 variation Advice to FRBanks re salary structures and status of studies '‘u4s, discussion of draft of final report, Personnel Committee authorized to approve plans and upon completion of uniform plan letter to be sent to FRBanks commending work and recommending narrowing of spread between highest and lowest salary structures http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/28 281 6/6 867, 888 933 6/17 7/22 1084 188 Job Pages evaluation and classification: (Continued) Plan approved by Board, letter to FRBanks of commendation for work, new plan to be effective as soon as wage structures adopted and approved by 8/12 Joint ph.Board llippine-American Financial Commission: '')cter, John, return from Manila via Hong Kong, Siam, India, and Europe approved, Board to share expenses 4/15 with State Department Return trip via Pacific and Europe and expenses author4/16 ized Monetary reforms in Philippines, letter stating view of Board sent to Secretary of the Treasury after receipt of letter from Mr. Randolph Burgess 4/11 ktit statements: Bank Credit policies during the inflation, to be issued by Federal and State bank supervisory author11/17 ities To be issued by bank supervisory authorities 11/21 8 Issued by Federal and State bank supervisory agencies 11/24 ank supervisory agencies, issued in 1942, discussion of cancellation, no action as to further state7/ 2 ment to be taken by the Board sued by Board, Comptroller of the Currency, and Federal Deposit Insurance Corporation, new instrucJos lo/ 8 tions to examiners being considered eon, Edgar, Jr., travel bureau business, propriety of na7/ 2 tional bank entering, reply to letter '-uty Clearing House Association, resolution objecting to reimbursement of member banks for postage on Keei 8/25 direct sent cash letters ") Floyd Y., Orvis Brothers & Co., margin requirements, 10/ 1 reply to letter suggesting reduction 1, Mar \E:11 gln requirements, reply to letter suggesting reduction 10/14 Y3 Thomas F., Hoover Company, Regulation WI elimination of vacuum cleaners from list, reply to letter 2/26 re Re Y to further correspondence requesting removal or amendmerit 5/15 vertisement re vacuum cleaners in violation of Regulation WI matter referred to FRBank of Richmond, 10/ 8 advice to tileht A Regulation W, reply to letter re sent to Congress" 1/21 man Thomas ) Milton S., margin requirements, reply to suggestions Ico from 4/ 3 °/Itz A ) G., Regulation W, reply to letter in favor of Labor: 2/25 continuation =, awc of Chicago, suit threatened by former employee of Detroit Branch, answer to be delayed until after action by Congress on pending labor legislation 4/15 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1169 572 591 560 1560 1606 1635 1011 1411 1019 1213 1355 1429 266 733 1409 95 509 261 575 Labor: 189 Pages (Continued) FRBank of Chicago: (Continued) Suit filed in Detroit re Fair Labor Standards Act, Bank to proceed with case without defense that Act does not apply- to FRBanks 7/ 2 Labor laWS National Labor Relations Act, applicability to Reserve Banks discussion at Presidents Conference, Banks to attempt to comply- with provisions of Fair Labor Standards Act even though excepted under 6/ 6 Labor unions: rederal laws, applicability to FRBanks, topic for discussion at Presidents Conference 5/ 9 FRB arik of Dallas, NLRB to hold informal investigation re discharge of 39 employees, statement to be sent to Board by 2/11 Report to Mr. Eads re discharge of 44 employees, statement of Mr. Townsend re situation, Personnel Committee to submit recommendation as to procedure to be followed 4/ 8 No action to be taken at present to reinstate two former 141), employees, Messrs. Clouse and Terry 4/11 —TAr )-enator William, reply that Board does not favor S. 548 to increase maximum insurance on deposits of any one depositor 4/17 14thalt Henry 1 J., Regulation W, reply to letters from Messrs. tatth O'Leary and Mackay re abolition sent to 1/13 ' Anlerica: Tr ills of Messrs. Knoke and Wallich to visit central banks of Peru, Bolivia, Chile, Argentina, Uruguay, Paraguay, and Brazil approved, visits to Leaks. Central and South America to be deferred 2/25 141.o rmation re matters under discussion between Treasury and Board or FOMC, statement to staff on con7/ 2 fidentiality of business of Board Wire system: Qoard rRBank of New York via Philadelphia, no change to be made at present, discussion of memo from Mr. Bethea 5/13 lt• erelty leased line telephone network to serve activities of Federal Government, Board not interested in proposed service at present, advice to Leoe Treasury Department 6/ 2 ricif absence: accumulated not to exceed 60 days, amendment to Section 2.3 of Board's leave regulations approved 8/15 BucL, ' 4-0Y, Thomas N., telegraph operator, reinstatement upon return from military leave and salary approved 1/27 4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1005 879 700 193 531 551 602 48 260 1013 717 834 1187 130 190 Pages Lealres of absence: (Continued) Copeland, Morris A., Special Consultant, granted leave without pay to teach at Johns Hopkins University, after discussion of Board's policy re outside teaching connections 7/ 2 Edwards, Mrs. Evelyn L, stenographer in Counsel's Office, granted leave without pay because of illness 1/30 Egbert, Va Lois, secretary to Mr. Eccles, granted sick leave, not to be charged to sick leave subsequently 1/3 accruing FRB a4,2%.s, study to be made of policies, including question of accumulation of annual leave and payment in event of death or separation from service, discussed in connection with case of Mr. Davenport, former Assistant Cashier at 2/2) Oklahoma City Branch PRBank officers and employees, schedule, to be developed by Presidents Conference Committee in consultation with Mr. Nelson for consideration by Conference and Board 3/5 Presidents F RBanks, annual, sick, and other leave, schedule for discussion at Presidents Conference, problem to be studied by personnel officers of Banks and (/6 Board's staff and report to be submitted Plan for uniform schedule to be transmitted by Mr. Nelson to personnel officers of FRanks for considera8/7 tion at meeting in fall of 1947 zgerald, Mrs. Frances, General Assistant in Secretary's Office, granted extension of leave without pay to Sept. 1, 1948, at which time )/8 she will retire ?renzoni, John C., granted leave with pay and to be reimbursed for expenses for attendance at 1/30 Graduate School of Banking Ger Section, schenkron, Alexander, Chief of Foreign Areas Division of Research and Statistics, granted official leave to deliver three lectures in 4/3 Berkeley, California Statistics, and Research of Anna Grace, clerk in Division granted leave without pay because of illness 6/3 Pia • without ltlgan, Helen A., file clerk, extension of leave 4/9 approved pay for three months kenvbe to and pay n, KInneth A., granted leave with reimbursed for expenses for attendance at 1/30 Graduate School of' Banking ICtigore, J. Edward, reinstatement as Administrative Assistant in Division of Personnel Administration and salary approved upon return from 4/3 military leave http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1007 143 7 2-7 330 872 1147 690 146 505 835 238 146 )o6 Leave 191 Pages Of absence: (Continued) Malone, Charles T., FRExaminer, request for leave without pay to accept position to serve with 4/23 occupation forces in Japan, not approved Maroney, Mary to pay without leave granted •, economist, accompany sister to International Trade and Employment Conference at Geneva, 3/28 Switzerland MIIITIV) Royal J • I release to work on marble of Arlington Memorial Amphitheatre for six months, 1/16 not approved Policy of Board reloan of employees to other Government agencies, to be granted only for experience 4/23 to increase value to Board upon return Reeves/ Mrs. Dorothy D., secretary to Mr. Young, granted 10/8 leave without pay for six months Regulations, amendments to conform with regulations of 8/15 Federal Government approved Violet M., Division of Research and Statistics, resignation accepted upon termination of 2/26 military leave Treacy, Norbert C., guard, resignation accepted upon re2/14 turn from military leave vigus, V. E., redesignation as special assistant examiner at Los Angeles approved upon return from 7/2 military leave VO4 Klempere six-month r, Alfred, FRBank of New York granted leave without pay for services with mili11/20 tary government in Europe Wirth, Eleanor, clerk-stenographer, extension of official leave for work with American-Philippine )/22 Financial Commission approved Leggett, proSupervisors, Thomas, Association of State Bank posed amendment to remove certain tax advantages re consolidation or conversion of 3/7 national and State banks IN18.1 ation: Absorption of exchange charges by member banks, Presidents to be advised of Board's position at joint 2/27 meeting Act or Apri refrom 1 13, 1943, exemption of war loan deposits serve requirements, no further legislation 3/3 needed, advice to Mr. L'Heureux Act Of Marc h 9, 1933, section 4, Emergency Banking Act, termination favored by Board, advice to 3/3 Mr. L'Heureux http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 625 487 68 626 1406 118) 2(2 211 1015 1560 776 34 ) 269 321 321 192 Pages Legislnti (Continued) `tualinistrative Practitioners Act, participation in proceedings of Federal agency, bill not needed in connection with operations of Board, advice to Senator Wiley, Chairman, Committee on the 510 4/3 Judiciary Alaska, bill to authorize admission as State, amendment suggest re membership of banks in FRSystem, comments requested from FRBank of San 7/25 1104 Francisco Anti bill proposed in House, discussion of reserve requirements to be restored by, Chairman Eccles authorized to make statement re inflationary situation before Senate 12/15 1761 committee Auth0,44 of Government FRBanks to make direct purchase of securities from Treasury, request for 321 3/3 permanent, advice to Mr. L'Heureux Bank toattitude general re holding company, advice of FAC 203 2/11 ward requested Reference to in connection with question of anti-trust proceeding against Transamerica Corporation, letter to Attorney General Clark 251 2/25 approved ()Pinions of FAC to be given by May meeting, statement of 38) 3/11 Chairman Eccles re status of bill 3/14 409 Discussion of present status 4/16 590 Pinions of FAC to be given at May meeting with Board Ilearings on S. 829 to be postponed, Chairman Eccles and Mr. Townsend to meet with holding company groups to discuss proposed amend719 )/13 ments D iscussion at meeting of FAC of proposed amendments suggested by Council and Association of Reserve City Bz:nkers, resolution stating views for use at hearing to be considered 5/20 760 at separate meeting of FAC Suggestion of Mr. Thomson, President of Northwest Bancorporation, endorsed by Reserve City Bankers and PAC, letter to Secretary of 778 )/22 the Treasury requesting approval S• 829 and H. R. 3351, proposed amendments, state503 779 ment re by Mr. Townsend 783 5/23 Amendments approved Review of present status by Chairman Eccles at 893 6/6 Presidents conference present Letter to President re importance of action at 899 6/10 session of Congress RePort by Chairman Eccles on status 6/17 932 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Legi 193 Pages slation: (Continued) Bank holding company: (Continued) Amendment to Regulation D to be deferred during consideration of 7/11 Passage prior to adjournment of Congress not likely because of request of Transamerica Corporation to testify before House Banking and Currency Committee, statement of Chairman Eccles 7/18 Present status of reviewed by Chairman Eccles at meeting 11/18 with FAC Ba nking, inclusion in pending labor legislation, meetings re, Mr. Clayton to continue discussions with FDIC, Comptroller and Treasury to include 4/16 in Hartley Bill 13(3ard of Governors, requiring action before expiration date of June 30 and legislation needing action at present session of Congress, reply to inquiry 6/10 from President of the U.S. tranches of State member banks, to require approval by Board for establishment of intracity 11/21 aPital requirements of member banks, Presidents to be advised of Board's position at joint meet2/27 ing Amendment to FRAct re, discussion at Presidents Conference 2/28 Action not possible at this session of Congress 3/7 RePlY to Mr. Burmester, Union Bank of Commerce, Cleveland, 3/25 Ohio Reply to Congressman Sundstrom re letter from Mr. William 5/12 J. Field Legislation to remove discrimination, recommendation to be included in annual report and Board to take stups to introduce bill at next session of 6/6 Congress Statement to be included in annual report for 1946 6/17 Legislation re to be submitted to Congress in 1948, drafts and transmittal letters sent to FRBanks for comments, information in support of 7/28 recommendations requested Presidents in favor of proposed bill to modify, but opposed to provision requiring approval of Board for establishment of intracity 10/7 branches for State member banks D iscussion of memo of Legal Division re, questions to be discussed with Comptroller of the Currency and matter to be considered in near future 11/21 DI'aft of letter to Comptroller of the Currency to be prepared re 11/26 Letter to Comptroller of the Currency with draft bill, views requested 12/5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1048 1065 1590 588 898 1626 269 309 348 464 708 881 931 1107 1385 1626 1642 1709 Legj81A 4 194 Pages (Continued) ..lompulsorY membership of national banks in territories and their admission as States, amendment to H.R. 49 to require national banks in Hawaii to become members of FRSystem upon admission of Hawaii as State, matter to be taken up with Messrs. Hanl and Delano before action lo/17 e0 or merger of national and State banks, proposed amendment to remove certain tax advantages, Mr. Vardaman to advise ABA that Board would favor legislation that would also remove discrimination against member banks re capital requirements for banks operating branches 3/7 ConsUmer credit, continuation of Board's authority to regulate, opposition of FAC to, discussion at meeting 3/11 with Board Draft of proposed bill to make permanent authority of Bard to regulate prepared by Mr. Solomon and statement re prepared by Mr. Parry, to be studied 4/11 by Board Continuation of Board's authority, recommendation of Council of Economic Advisers to President, discussion 4/11 by Chairman Eccles Desire of Chairman Eccles to testify on, letter to Chairmen of Banking and Currency Committees transmitting proposed bill and letter for signature of the President re to be submitted to Board 5/23 Draft of bill to authorize regulation by Board and draft of letter for signature of President discussed, drafts to be revised and alternative draft of bill proposing broader authority to be pre5/29 pared, matter to be discussed further Currency and bill to be sent to Chairmen of Banking Committees with letter of transmittal and explanatory statement, Chairman Eccles to testify at hearings on, and letter for 6/4 signature of President approved Draft of bill to continue regulation by Board sent to Chairmen of Banking and Currency Committees of Con6/5 gress Regulation W, Chairman Eccles to testify at hearings on bill, statement at Presidents Conference re status 6/6 and letter received from the President Letter to President re importance of action at present ses6/10 sion of Congress RePort by Chairman Eccles on status 6/17 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1447 345 378 548 549 789 821 84o 853 879 900 932 195 Legisi Pages „-!Ltion: (Continued) '..onsUiller Credit: (Continued) Authorization for one-year period sUggested as compromise by Board, Chairman Eccles authorized to inform Senator Buck that 7/2 Board has no further suggestions Status, Chairman Eccles to bring matter to attention of President to decide whether to revoke 7/11 Executive Order P resident not to take action re Executive Order until action of Congress determined, statement of Chairman Eccles 7/18 Ex tension until November 1, letter to Mr. Clark Clifford recommending signing or Joint Resolution by President and enclosing suggested state7/28 ment for issue Restoration of authority of Board, to be recommended to White House by Chairman Eccles to control 11/) expansion of credit by Banks Passage of S. J. Resolution 157 by Senate, procedure to be followed if also passed by House outlined by Mr. Parry, discussion of increase In credit limit and broadening of list of 12/19 articles, further study to be made Con,, -version or consolidation of national banks with State Banks, letter to Mr. Needham, ABA, re pro12/5 posed bill to permit elsedit Joint controls proposed, Mr. Eccles to appear before Committee on Economic Report and Banking 11/17 ectand Currency Committees joint hearings existmake Purchase of Government securities, bill to ing authority permanent, draft with recommendation for enactment sent to Chairmen of Senate and House Banking and 1/10 Currency Committees Pe 2/11 requested FAC of views FRBanks, authority for krzpuest for permanent authority, advice to Mr. L'Heureux 3/3 48 of FRBanks, payment of portion to Treasury, discussion in connection with hearings of H. R. 2233 before House Banking and Currency Committee, 3/7 no conclusions reached 'Labor Standards Act: Ass istant examiners, exemption under, question raised by FBBenk of Atlanta, advice requested from FRBanks re procedure to be followed by 12/5 Board 4111 labor laws, applicability to FRBanks, topic for dis5/9 cussion at Presidents Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1006 1050 1065 ) 110- 1524 1799 1710 15)9 . 4o 203 321 _ 1706 700 196 tegi;lation: Pages (Continued) 4t) bill to amend and for other purposes, draft with recommendation for enactment sent to Banking and Currency Committees of 1/10 Senate and House Bill to repeal section 13b and to amend section 13, copy and recommendation for enactment sent to Chairmen of Senate and House Committees on 1/10 Banking and Currency incorporate Letter to Chairman Wolcott revised to reference to statement contained in 1/23 President's budget message S. 408 to Senator to letter of, amend, Board in favor 2/24 Tobey stating views Amendment to section 13, memo and letter to Presidents stating reasons for approving to be prepared by Mr. Draper and staff 3/7 PRI31'anch buildings, bill to repeal limitation on cost, draft with recommendation for enactment sent to Chairmen of Senate and House Banking and 1/10 Currency Committees Removal of limitation on cost, FAC in favor, of and to con3/11 sider matter further Reply trtoletter from Congressman J. Hardin Peterson 3/25 o FRBanks to be prepared requesting information re construction costs and stating that plans should be for practical needs 3/28 without ornate or pretentious buildings S. 1225, Sparkman bill to remove limitation re, report to be deferred until discussion by Chair5/13 man Eccles with Mr. Wolcott airman Eccles to talk with Mr. Wolcott to obtain views 5/13 before further action RePeal of limitation in FRAct on expenditure, letter to Chairman Wolcott recommending repeal or authorization for expenditures for urgent cases up to $10,000,000, copy sent to 5/29 Senator Tobey 13111 for additional authority for construction of, preferred by Chairman Wolcott to bill for repeal of existing limitation, state6/4 ment of Chairman Eccles RePeal of limitation on cost, or authorization for expenditures for urgent cases up to $10,000,000, drafts of bills sent to Chairman Wolcott of House Banking and 6/5 Currency Committee http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4o 39 104 247 347 41 390 465 482 710 714 814 840 852 197 Pages :eryi , '''rts',,ation: (Continued) 'ul'reZch Buildings: (Continued) Review of present status by Chairman Ec,A..es at Presi6/6 dents Conference AI:le/lament to section 10 of FRAct to remove limitation, letter to President re importance of 6/10 action at present session of Congress Letter to Chairman Wolcott re labor and material needed 6/12 for construction Request to Congress to permit expenditures in excess of present limitation, report by Chairman 6/17 Eccles on status No g objection to purchase of Chamber of Commerce Buildin for Cincinnati Branch, provided legislation authorizing purchase enacted by ) 5/1 Congress, advice to Mr. Gidney Bill to permit expenditures up to $10,000,000 passed by Senate, advice to Mr. Gidney re status 7/14 of signed ,000 $10,000 to 13111 to authorize expenditures UlD by President, information re urgent 8/8 needs of branches requested [eral statutes, bills to repcal obsolete provisions, study to be made by Legal Division and advice to 4/30 be sent to Senator Wiley 4arinhi,e of advised be to nts tax, restoration of, Preside 2/27 Board's position at joint meeting Ge°11Ce Act, applicability to request of GAO for permission to examine reports of examination of 28 in1/17 sured banks 6.1'tley bill, inclusion of banking in list of industries affecting interstate commerce, Mr. Clayton to continue discussions with FDIC, 4/16 Comptroller, and Treasury -,, to authorize admission as State, amendment suggested re membership of banks in FRSystem, comments requested from FRBank of San 7/25 co Francis i, hip members -tan and Alaskan banks, question of compulsory ' for national banks outside continental United States, memo and draft of letter to Congressional committee to be prepared for 8/7 consideration n, i -)1Trier's Loan Act of 1933: : R. 2800, to amend section 5, report recommending pocket 7/30 veto sent to Bureau of the Budget http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 893 898 90) 932 732 1055 1160 C64 269 74 88 1103 1150 1116 198 Pages 4E41;1+4 --Lon: (Continued) 11. J• Res. 222, to terminate Regulation W except during war or national emergency, reported by 7/11 House Banking and Currency Committee 8. R. 49, amendment to require national banks in Hawaii to become members of FRSystem upon admission of Hawaii as State, letter to Chairmen of Senate Committee on Public Lands, matter to be taken up with Messrs 10/17 Hari_ and Delano before action R. to advice Board, R' 176, Regulation W, Authority of Congressman Rees re expiration date, expenditure for activity and number of 10/29 personnel engaged in R. 10 "• 515, Kefauver Bill, to amend section 7 of Clayton Act, hearings to be held before House Judiciary Committee, Board to await hearings before Senate Committee and Mr. Townsend to attend House hearings and to present Board's position if necessary 3/14 Statement of Mr. Townsend before subcommittee of House Judiciary Committee, Chairman Eccles to 1[.talk to Senator O'Mahoney re Senate bill 4/8 4‘. 2233, to extend authority of FRBanks to purchase sc.urttes (:'Irectly from Treasiry, discussion of payment of portion of earnings of FRBanks to Treasury in connection with hearings before House Banking and Currency Committee3/7 L imitation on cost of FRBranch building, removal of, portion of bill rejected, mentioned in letter to Congressman J. Hardin Peterson 3/25 Removal of limitation on cost of FRBranch buildings, eliminatI-la of provision, statement 3/28 of Chairman Wolcott to Mr. Eccles D • 2315, concerning common-trust funds and to make uniform law re, Board in favor of bill with suggested amendments, advice to 4/11 Congressman Dirksen D 2413, to amend FRAct and for other purposes, Board in favor of bill as passed by Congress, 4/24 advice to Bureau of the Budget II. A Regulation '" P542, to invalidate Executive Order for W, reply to Congressman Hagen re inquiry concerning lifting of restrictions on 4/4 consumer credit . 279_, 11. To • by opposed similar to S. 1178, enactment 6/13 Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1050 1447 1492 407 529 349 465 481 568 633 520 918 199 Pages Legislation: (Continued) H. R. 2800, 6/13 similar to S. 1176, enactment opposed by Board To amend section 1933, of Act Loan Owners' Home of 5 and for other purposes, report recommending pocket veto sent to Bureau of the 7/30 Budget R. 3268, industrial loans bill, advice to Presidents re 6/13 status R. 4488, a bill to amend Servicemen's Readjustment Act of 1944, Board not in favor of enact12/17 ment, advice to Hon. Rogers Industrial Loans, possible legislation re, Presidents to be advised of Board's position at joint 2/27 meeting RePort by Chairman Eccles on iippearance before House Banking and Currency Committee in connec6/4 tion with (S.408), review of present status by Chairman Eccles at 6/6 Presidents Conference Letter to President re importance of action at present 6/10 session of Congress 6/17 Letter to FRBanks referred to by Chairman Eccles OPPosition by FAC if RFC powers continued, discussion at FAC meeting with Board, further consideration of matter to be given at 9/23 next meeting Labor, applicability to FRBanks, topic for discussion at 4/15 Presidents Conference I nclusion of banking in, meetings re, Mr. Clayton to continue discussions with FDIC, Comptroller and Treasury to obtain same treatment for banking in Hartley bill 4/16 as is given to other industries Federal laws, applicability to FRBanks, topic for 5/9 discussion at Presidents Conference 4bor bill (Taft-Hartley), letter in favor sent to 'White House after discussion and talk with 6/17 Presidential Aide Clifford 144ssachusetts, law permitting delayed remittance for cash Items, letter to FRBank of Boston on 11/5 changes in check collection circular tlev. `gers or consolidations of State and national banks, equality of pcsition in, statement of Mr. Vardaman re meeting in New York, 3/14 no recommendation to be made http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 918 1116 917 1786 269 839 893 899 932 1313 576 588 700 927 1530 401 200 Pages Legis114+4 la-.4on: (Continued) v .88(3uri Valley Authority, S. 1156 to establish, reply to " routine inquiry to be deferred, Chairman Eccles to send letter to Senator Murrary re, and Messrs. Vest, Morrill, and Thurston to discuss matter with Mr. Anderson 5/13 K3rtgage8 or loans for insurance, guaranty, or purchase by Federal Agency, bill to limit eligibility, general indorsement by Board, advice to 12/22 Foley, Housing and Home Finance Agency Mr. National Advisory Council on Domestic Credit Extension, draft of bill prepared by Treasury Department to establish, Board not in favor of, Mr. Lynch, 12/15 General Counsel of Treasury, to be advised 1404onal Labor Relations Act, amendment to exempt agencies of Federal Government, discussion in connection with threatened suit against FRBank ) 4/1 of Chicago Rese rve Banks excepted under, discussion at Presidents Conference, Banks to attempt to comply with 6/6 provisions of Fair Labor Standards Act °Ibscaete laws, bills to repeal, reply to letter from Senator 7/9 Wiley re provisions of FRAct Law No. 263, withdrawal of contributions from Civil Service Retirement System upon separation with less than ten years of service, not applicable to Board of Governors Plan of 8/20 Retirement System, resolution adopted re Rates , fortnightly establishment, amendment to FRAct recommended, 2/28 Ree048 no action to be taken at present truction Finance Corporation, bill to extend, and on general credit situation, request for testimony by Chairman Eccles at hearings 5/23 declined atiOn W) Conference, Presidents continuation, discussion at statement of Chairman Eccles re conversation 2/28 with Congressman Wolcott C nstitutionality of Executive Order during peace, reply to letter from Mr. M. J. Bachrach sent to 4/30 Congressman Hess Ileorft Budget the 45a4ization Act, work by GAO and Bureau of ' duplication in connection with bank supervisory agencies, statement of Chairman Eccles 2/21 "e city designation, discussion at Presidents Conference 10/7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 719 1818 1747 576 879 1033 1206 235 789 286 663 243 1380 201 Pages Legislati on: (Continued) Reserve requirements, to be considered by Congress in connection with adoption of formula for designation of reserve cities, statement of Chairman Eccles at FAC 9/23 meeting Special reserve plan for three-year period to control expansion of bank credit, to be recom11/5 mended to White House by Chairman Eccles Special reserve plan proposed to control expansion of bank credit, discussion of Chairman Eccles' memo and of questions raised by Mr. Szymczak, Chairman Eccles to make statement before joint hearings of Joint Committee on Economic Report and Banking 11/17 and Currency Committees Bill to provide for special to be held by banks, and for other purposes, draft approved, to be transmitted to Chairmen of Banking and 11/26 Currency Committees Section 32 of Banking Act of 1933, interlocking relationships with security concerns, discussion of suggested change at Presidents Con2/28 ference Section 522(c) of Tariff Act of 1930, proposed amendment to, and question of service of Board's staff on Committee to assist Treasury in administration of, letter from Mr. Sproul re 1/27 circulated to Board for information Section 5219 of U. S. Revised Statutes, taxation on national banks by States, proposed amendment to, 1/30 no objection to S'104, bill to amend Clayton Act, report sent to Senator L/16 O'Mahoney S. 15,, DevelopI Veterans Employment and National Economic ment Corporation Act of 1946, discussion 3/11 at FAC, Board opposed to small to credit s• 217, to continue authority of RFC for business enterprises, no report to be made by Board, Comptroller or Treasury re, 3/11 discussion at FAC meeting with Board s. 4o8, industrial loans, to amend sec. 13b of YRAct, views of Board re bill introduced by Senator 2/20 Tobey stating Board in favor of, letter to Senator Tobey 2/24 views http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1304 1522 1557 1665 290 135 152 596 370 383 228 247 Legisl n 4.. (Continued) S. 408: (Continued) Discussion at Presidents Conference of additional provisions, matter to be left open for further consideration Proposed amendments, discussion at FAC, resolution to be submitted by Board to Chairmen of Senate and House Banking Committees after approval by FAC To repeal section 13b and to amend section 13 of FRAct, letter to FRBanks stating need for affirmative action promptly Statement of Yr. Hanes, ABA, against at meeting of executive committee of Association of State Bank Supervisors, statement of Chairman Eccles re Chairman Eccles to testify before Senate Banking and Currency Committee re Letter submitted by Board to be incorporated in hearings sent to Senator Tobey after letter from Mr. John D. Goodloe read into record Letter to Senator Tobey concerning comments of Mr. William C. Foster, Acting Secretary of Commerce, re Effectiveness as to veterans housing projects, reply to letter from Mr. Louis E. Starr sent to Senator Tobey Desire of Chairman Eccles to testify on Letter to President re importance of action at present session of Congress Advice to Presidents re status of bill Letter to FRBanks re statement on "Meeting the Special Problems of Small Business" by Research and Policy Committee of Committee for Economic Development Mentioned in letter to Senator Tobey re S. 1740 To be considered further at meeting of FAC Statement of FAC indicating preference for bill rather than extension of lending powers of RFC S. 414, government system of export credit insurance, Board not in favor of enactment, report to Senator Tobey Export credit insurance, mentioned in letter to Senator Tobey, re S. 1740 S. ci -)48, to increase FDIC insurance from $5,000 to $15,000, request from Clerk of Senate Banking and Currency Committee for report, to be filed without reply http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 202 Pages 2/28 306 3/11 369 3/21 445 4/11 553 14/16 587 4/25 6140 4/25 644 5/2 5/23 677 789 6/10 6/13 899 917 7/29 10/1 10/31 1111 1357 1502 11/18 1566 4/2 499 10/1 1358 2/21 21414 203 Pages legis, s:x.1.: (Continued) D.r. (Continued) To insure bank deposits up to maximum of $15,000, Board not in favor of, advice to Senator 4/17 Langer • se.814, simllar Board /13 6 by opposed to S. 1178, enactment 828 to extent authority of FRBanks to purchase Government securities directly from Treasury, report in favor sent to Chairman of Senate B,nking and Cur3/24 rency Committee To securities of purchases direct continue authority for by FRBanks from Treasury, to be brought up in Senate for consideration this week 4/15 8. 829, to provide for control and regulation of bank holding companies, and for other purposes, report to Chairman of Senate Banking and Cur4/17 rency Committee holding company bill, topic for discussion at FAC 5/2 meeting Passage favored by FAC, review of legislative situation by Chairman Eccles at meeting of FAc 9/23 with Board 8 '1070, to Treasury repay to and FDIC of stock capital cancel and FRBanks for amounts received on account of subscriptions, Board in favor of bill with certain changes, advice to 4/18 Senator Tobey To provide for cancellation of capital stock of FDIC, payment for retirement of stock by FRBanks, omission of provision requested to avoid 6/13 confusion, letter to Senator Tobey Report in favor of President's signing of bill sent to 7/30 Bureau of the Budget '1149, 8 /13 6 similar to S. 1178, enactment opposed by Board 1156, to to establish Missouri Valley Authority, reply routine inquiry to be deferred, Chairman Eccles to send letter to Senator Murray re, and Messrs. Vest, Morrill, and Thurston 5/13 to discuss matter with Mr. Anderson S'1176, to loan and extend lending power of Federal savings associations, enactment opposed by Board, 6/13 report to Senator Tobey 1178, to Savings Federal reduce premium rate for insurance by and loan Insurance Corporation, enactment S. 122,, opposed by Board, report to Senator Tobey6/13 SParkman bill to remove limitation on expenditures for FRBranch buildings, report to be deferred until discussion by Chairman Eccles with )/13 Mr. Wolcott http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 602 918 452 572 601 679 1313 609 922 1116 918 719 918 918 710 204 Le Pages gislation: (Continued) S. 1519, to amend section 10 of FRAct and permit expenditures for FRBranch buildings up to $10,000,000, Board in favor of, report to Bureau of the Budget 7/25 1102 S. 1720, to amend National Housing Act, no objection to approval of bill by President, advice to Bureau of the Budget 1124 7/31 Ss 1740, to establish a Federal Small Business Corporation, Board not in favor of enactment, report sent to Senator Tobey 10/ 1 1356 S. J. Res. 123, to terminate war time legislation, question of exemption of executive order No. 8843, consumer credit regulation, advice requested from Attorney General 6/10 900 S. J. Res. 148, to authorize continuance of Regulation W until end of 1947 under certain conditions, reported out by Senate Banking and Currency Committee 7/11 1050 To authorize temporary continuation of regulation of consumer credit, copy of statement for issuance by President after signing sent to Bureau of the Budget 7/28 1106 S. J. Resolution 157, to authorize Board to regulate consumer instalment credit, passage by Senate, procedure to be followed outlined by Mr. Parry, if also passed by House, discussion of increase in credit limit and broadening of list of articles, further study to be made 12/19 1799 Si tuation at close of 80th Congress, copies of Chairman Eccles' letter to Presidents sent to Mr. Prochnow 8/26 1215 Strike Preventive, classification of banks in, discussion at FAC, no action to be taken 3/11 369 urPlus Property Act of 1944, Board has no surplus property to report, advice to WAA 3/ 7 353 Tart Labor Bill, letter in favor of sent to White House after discussion and talk with Presidential Aide Clifford 6/17 927 Exemption for FRBanks from National Labor Relations Act contained in 7/ 2 Ta% • 1005 bill, H. R. 1 1 letter to President recommending veto of 6/ 5 849 Letter of disapproval sent to President, advice to Bureau of the Budget 6/ 9 895 Letter to President in opposition to, mentioned in connection with discussion of proposed TaftHartley Labor Bill 6/17 928 ding with the Enemy Act, section 5(b), retention favored by Board, advice to Mr. L'Heureux 320 3/ 3 Exemption from S. J. Res. 123, question of exemption of executive order No. 8843, consumer credit regulation, advice requested from Attorney General 6/10 900 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 205 Le Di Pages slation: (Continued) Trading with the Enemy Act:(Continued) Section 5(b)1 continuance of war and emergency legislation desirable, letter to Attorney General Clark 12/12 1744 Transamerica Corporation, applicability of Clayton Act, investigation to be made by Legal Division 10/31 1506 Wagner Questionnaire matters, Presidents to be advised of 2/27 Board's position at joint meeting 269 Letters of appreciatio Grady, Henry F., resignation as Chairman and FRAgent at FRBank of San Francisco to become Ambassador to India 4/22 615 alamock, Miss Many-e, for article re value of membership in FRSystem of Bank of Hartsville, Tenn. 8/28 1229 Ran Ransom, Ronald, telegram of sympathy on occasion of death, sent to Mr. Neely, Chairman at FRBank of Atlanta 12/ 3 1681 Letters _0.1 congratulation: Gro ve,David L., on award by Government of Ecuador in appreciation of work 11/ 5 1527 Letters , Exter, introduction: John, to be used in visits made on return trip from LtRettre Philippines 4/16 592 3/ 3 321 Ter mination of licensing of member banks, Presidential proclamation, statement to be published in May Loaz 4/22 issue of FRBulletin 617 ux Lieelises, Robert D., reply to letter re retaining, amending or terminating certain laws 04..eMployees to other agencies: Howard, FRBank of New York, to be assigned to AmericanPhilippine Financial Commission for three 1/ 7 Malon-,months Charles T., FRExaminer, request for leave without pay to accept position to serve with occupation forces in Japan, not approved by Personnel 4/23 Committee karshall Plan for assistance to European countries, participation of members of Division of Research and Statistics in work connected with approved after discussion 7/11 Parti cipation in special projects involving submission of statement or memorandum as expression of Board's views or position to require Board approval 7/11 P°11-cY of Board re, to be granted only for experience to increase value to Board upon return 4/23 Sn -"Ion, Frederic, Assistant Counsel, to Bureau of the Budget for one month approved 2/18 Loan to Bureau of the Budget, extension for one week approved 3/24 " http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11 626 1042 1042 626 219 14149 206 Loan . Pages of employees:((Continued) Stettner, W. F., services requested by Canadian Government but not possible at present, advice to 4r. Douglas 11/25 1639 Von Klemperer, Alfred, FRBank of New York, granted six-month leave without pay for services with military government in Europe, at request of War Department 1600 Wirth, Eleanor, clerk-stenographer , assignment to AmericanPhilippine Financial Commission forfour Loans: months 33 A merican Business Shares, Inc., loan to purchase or carry stock of, not subject to provisions of Regulation U 4/10 543 Amortization of bank loans not subject to Regulation W, three statements issued by bank supervisory agencies during 1942, discussion of cancellation, no action re further statement to be taken by Board 7/ 2 Banca dlItalia, Rome, credit by Bank for International Settlements, reply of FRBank of New York expressing no objection approved by Board 10/28 1490 Credit by Bank for International Settlements, reply of FRBank of New York expressing no objection approved by Board 12/19 1816 Banco Central de Bolivia, loan by FRBank of New York approved subject to certain conditions 3/21 447 14400 Central del Ecuador, loans by FRBank of New York approved subject to certain conditions 13azik 5/ 2 678 credit policies during inflation, joint statement to be issued by Federal and State bank supervisory agencies, to be revised by Mr. Clayton and to be discussed with Treasury representative before review with executive committee of National Association of Supervisors of State Banks sank 11/17 1560 of England, loan by FRBank of New York approved subject to certain conditions 4/18 611 Increase in loan by FRBank of New York approved, subject taw., to certain conditions 8/15 1189 of France, loan by FRBank of New York approved 11/26 1674 -4 Polskil loan by FRBank of New York approved, subject to certain conditions 2/14 214 Extension of loan by FRBank of New York approved subject to certain conditions 7/2 1012 Extension of loan by FRBank of New York approved subject to certain conditions 9/ 5 1252 Extension of loan by FRBank of New York approved subject to certain conditions 10/ 3 1371 Extension of loan by FRBank of New York approved subject to certain conditions 10/15 1434 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Lo ans: (Continued) Bank Polski: (Continued) 207 Pages Extension of loan for three months by FRBank of New York approved 12/ 5 , Extension of three loans by FRBank of New York approved 12/16 aanque Centrale de la Republique de Turquie, loan or loans by FRBank of New York approved subject to certain conditions 9/24 , Increase in loan or loans by FRBank of New York approved10/10 aanque de Grece, three months extension of loan by FRBank of New York approved, subject to certain 3/21 conditions Extension of loan by FRBank of New York approved subject 6/20 to certain conditions Extension of loan by FRBank of New York approved subject to certain conditions 9/19 „e Three months extension by FRBank of New York approved 12/19 u ntral Bank of Turkey, credit by Bank for International Settlements, reply of FRBank of New York expressing no objection approved by Board 9/29 Policy re future loans, to be placed on agenda at next meeting of N. A. C. and paper re to be prepared by Staff Committee, letter of Chairman Eccles to Mr. Glasser 10/ 3 Clisto, v' receipts of city correspondent banks, acceptance by FRBanks as collateral for loans to member banks, procedure re, advice to FRBanks 11/25 EMPloyees of FRBanks, increase in loan fund requested by FR bank of Kansas City, memorandum to be prepared by Mr. Smead, draft of letter to Mr. Sproul to be prepared asking that matter 12/15 be considered at Presidents Conference 8xa1tination policy re member bank loans, Presidents to be advised of Board's position at joint 2/27 meeting New statement of policy to be prepared by Board and bank supervisory agencies, discussion at Presi2/28 dents Conference 4Pansi0n of bank credit, statement of FAC and reply of Chairman Eccles, discussion of special reserve plan and other means of correction, 11/18 statement of FAC to be revised RBank of Atlanta, no objection to use of funds for loans to employees, advances to be included on Form FR 34 4/11 uns to employees for educational expenses, no objection to extension of employees' loan fund to p. employees at FRBank of Richmond 9/10 11"8t National Trust and Savings Bank of San Diego, Calif., loans to trustors of revocable living trust, 6/19 applicability of Regulation F http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1714 1771 1325 1425 448 964 1288 1815 1338 1370 1640 1760 269 292 1567 566 1265 9145 208 Loa, Pages F0 (Continued) gold, policies by American commercial banks in making or participating in loans on, topic for discussion at meeting of FAC 5/ 2 679 Loans by American commercial banks on, policies, discussion at meeting of FAC with Board, policy group on foreign interests to make recommendations Treasury 5/20 750 H. R. 28co, to amend section 5 ofto Home Owners' Loan Act of 1933, and for other purposes, report recommending pocket veto sent to Bureau of the Budget 7/30 1116 Indristrial Bank of Commerce of New York, N. Y., misleading advertisements to be discussed with 1/13 47 Industrial, bill to repeal section 13b and to amend section 13 of FRAct, copy and recommendation for enactment sent to Chairman of Senate and House Committees on Banking and Currency 1/10 39 Bill to repeal section 13b and to amend section 13, letter to Chairman Wolcott revised to incorporate reference to statement contained in President's budget message 1/23 104 Views of Board on S. 408 introduced by Senator Tobey 2/20 228 S. 408, to amend FRAct, Board in favor of, letter to Senator Tobey stating views 2/24 247 Legislation re, Presidents to be advised of Board's position at joint meeting 2/27 269 Discussion at Presidents Conference of additional provisions, matter to be left open for further consideration 2/28 306 Section 13, proposed amendment, memo and letter to Presidents stating reasons for approving to be prepared by Mr. Draper and staff 3/ 7 3)47 Proposed amendments, discussion at FAO, resolution to be submitted by Board to Chairmen of Senate and House Banking Committees after approval by FAC 3/11 369 To repeal section 13b and to amend section 13 of FRAct, letter to FRBanks stating need for affirmative action promptly 3/21 4h5 S tatement of Mr. Hanes, ABA, against, at meeting of executive committee of Association of State Bank Supervisors, statement of Chairman Eccles 4/11 553 To authorize FRBanks to guarantee, Chairman Eccles called to testify before Senate Banking and Currency Committee 4/16 587 Guarantees of business loans by FRBanks, letter submitted by Board to be incorporated in hearings sent to Senator Tobey after letter from Mr. John D. Goodloe read into record 640 4/25 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 209 Pages 44m. • (Continued) Industrial: (Continued) Guarantees of business loans by FRBanks„ letter to Senator Tobey concerning comments of Mr. William C. Foster, Acting Secretary of Commerce 4/25 644 Demand for, policies re, and rates, topic for discussion 5/ 2 679 at meeting of FAC Effectiveness as to veterans housing projects, reply to letter from Mr. Louis Starr sent to Senator 5/ 2 677 Tobey Desire of Chairman Eccles to testify on bill 5/23 789 Legislation to authorize FRBanks to guarantee, report of Mr. Eccles on appearance before House Com839 6/ 4 mittee on Banking and Currency Review of present status of legislation by Chairman Eccles 6/ 6 at Presidents Conference 893 Letter to President re importance of action at present 6/10 899 session of Congress Advice to Presidents re status of legislation 6/13 917 Legislation to authorize FRBanks to guarantee, letter to 932 6/17 FRBanks mentioned by Chairman Eccles Letter to FRBanks re statement on "Meeting the Special Problems of Small Business" by Research and Policy Committee of Committee for Econo7/29 1111 mic Development OPposition by FAC if RFC powers continued, discussion at FAC meeting with Board, further considera1313 tion of matter to be given at next meeting 9/23 1357 10/ 1 Mentioned in letter to Senator Tobey re S. 1740 Semiannual list of loans and commitmonts outstanding, to be 10/10 1425 discontinued To be considered further at meeting of FAC 10/31 1502 Statement of FAC indicating preference for bill rather 11/18 1566 than extension of lending powers of RFC Participation certificates, discount under Section 13b for Fulton National Bank, rate of one per cent on purchases approved for FRBank of 11/18 1592 Atlanta Section 13b(e) of FRAct, payments to Treasury not to be made after cancellation of FDIC stock by 1679 FRBanks, advice to FRBank of San Francisco 12/ 2 FRBank of New York, elimination of maximum commitments rate of one-fourth per cent or flat fee not to exceed $50 on Section 13b loans approved 12/ 5 1689 Payments to Treasury not to be made after cancellation of FDIC stock by FRBanks, instructions to 12/23 FRBanks for 1947 report on FR 418 1824 Mortgages or loans for insurance, guaranty, or purchase by Federal Agency, bill to limit eligibility general indorsement by Board, advice to Mr. 12/22 1813 Foley, Housing and Home Finance Agency http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Loans, 210 Pages (Continued) National Advisory Council on Domestic Credit Extension, draft of bill prepared by Treasury to establish, Board not in favor of, Mr. Lynch, General Counsel of Treasury, to be advised 12/15 National Bank of Nicaragua, application for, draft of letter from Mr. Sproul to, comments re 3/14 National Shawmut Bank, Boston, Mass., loans to beneficiaries for purchase of stock of trust, applicability of Regulation U 4/24 Prospects re bank loans, demand for business loans, loans secured by real estate, and for consumer credit, statement of FAC and discussion at meeting with Board 5/20 Reserves for bad debts, should be reflected in earnings and condition reports as other valuation allowances 12/26 Sales of mortgages by State member banks, statement to be published in FRBulletin 5/20 Sears, Roebuck and Co., proposed loan to employee to purchase stock of, applicability of Regulation U, reply to Mr. Willard G. Barker 4/18 Stock Clearing Corporation of Boston, question of loans in connection with Boston Stock Exchange, applicability of Regulations T and U 6/ 2 "Suggestions for improving statistical information on Bank loans", copies of report sent to FRBanks for comments and suggestions 9/ 8 S urlrY of general character of increases requested by Treasury, FRBanks to give information 11/19 asury bills, loan value to be established by FRBanks, letter to Mr. Sproul, re, matter to be discussed at Presidents Conference 12/ 5 Loan value by FRBanks to be maturity value, views of Presidents Conference approved 12/ 9 Veterans housing, H. R. 4488, bill to amend Servicemen's Readjustment Act of 1944, Board not in favor of enactment, advice to Hon. Rogers 12/17 Veterans loans on automobiles, relaxation of terms of Regulation W for, reply to suggestion from Mr. Burton, City Bank, Washington, D. C. 3/11 Vet.— ns mortgage, abuse of credit regulation in field, discussion at meeting of FAC with Board 3/11 °catio n of banks: Nevada Bank of Commerce, Reno, Nevada, removal of head office from Elko and establishment of branch in Elko approved 12/ 3 4*44ann, M. R., consultant, employment on temporary basis for work on FRWage and Salary Administration Plan for FRBanks approved, conpensation to be on daily basis and traveling expenses to be paid by Board 2/21 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1747 328 631 754 1835 748 608 831 1259 1596 1708 1718 1786 393 381 1684 236 211 Pages 143ng Beach Federal Savings and Loan Association: Farmers and Merchants Bank of Long Beach, California, examination of, transactions determined not to be illegal, advice to Department of Justice Lot, 2/ 5 Russell G., control of stock market credit, letter to Senator Tobey in reply to correspondence from 5/ 6 Margin Low.. requirements, reply to letter sent to Senator Tobey 6/13 .‘°3-ana Bankers Association, luncheon with Board, invitation Lotus; to be extended during visit to Washington 5/ 1 'ana Furniture Company, Regulation W investigation, under consideration by Board 10/16 Llinchsons: American Agricultural Editors Association, to be invited as guests of Board in connection with meeting at Board 5/ 6 Anerican Bankers Association, invitation to luncheon with Board to be extended to State Associations visiting Washington 5/ 1 Exp^...Il_ of FRBanks, to be included in general budgets 2/ 4 Federal "Qeral Advisory Council, on September 23 at the Board, advice re arrangements to Mr. Prochnoa 8/26 Henn essY, John L., Hotels Statler Company, Inc., to be invited to luncheon to discuss cafeteria operations, Presidents to be invited to attend 9/22 Lo w • e 4-lana Bankers Association, to be invited to have luncheon with Board during visit to Washington 5/ 1 4i nnesota Bankers Association, to be invited to have luncheon with Board during visit to Washington 5/ 1 National Association of supervisors of State Banks, annual meeting in Washington, invitation for luncheon or dinner to be extended if no objection by Chairman Eccles 4/23 Nattonal Conference of Business Paper Editors, to be invited by Board to lunch during meeting in Wash5/23 ington Pennsylvania Bankers Association, invitation to luncheon with Board to be extended during visit to Washington 4/23 At Board, followed by informal discussion with Mr. Thomas answering questions presented by 5/ 1 Pre,. 'ldents of FRBanks invited to luncheon at which Mr. John L. Hennessy will discuss operation of latak cafeterias 9/24 ay T) A., Regulation W, abolition of, reply to letter sent to Congressman Latham 1/13 girl r^ . Arl_.quirements: ' llnistration of, letter to Senator Tobey in reply to letter from Mr. Russell G. Longmire 6/13 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 177 687 914 671 1437 684 671 168 1216 1289 671 671 624 791 623 670 1324 48 914 Maroi- 212 Pages b.0 requirements: (Continued) Administration of: (Continued) Letter to Senator Tobey in reply to letter from Mr. 6/13 R. R. Wilson Letter to Senator Tobey in reply to letter from Mr. 6/13 W. T. Scott General purpose Congress intended by, reply to letters 6/24 from Mr. Francis Adams Truslow APPlication of Regulation T to switching of securities in frozen accounts, reply to inquiry from Dr. 5/28 Amos R. Shirley Borrowing of securities, statement to be published in August 7/23 issue of FRBulletin Burns, James F., Jr., reply to letter re Regulation T 2/10 Dif ferential in, discussion at meeting of FAC with Bdard, 3/11 FAC opposed to Hen 7 1/ T ry, Oliver Be, reply to letter re Board's regulations stock L'ongmire, Russell G., reply to letter re control of 5/ 6 market credit sent to Senator Tobey Reduction in, discussion, draft of statement to be considered at meeting on January 17, Chairman Eccles to advise White House and Treasury of contemplated reduction, SEC to be advised 1/14 of action to be taken Reduction to 75% approved 1/17 Re duction and relaxation of rules, second draft of reply to 3/28 Mr. James F. Burns, Jr., approved Re S. Mr. Milton from duction in, reply to suggestions Koblitz4/ 3 5/20 Discussion at meeting of FAC with Board 9/30 Reply to letter from Mr. Thos. J. Healy 10/ 1 Reply to letter from Mr. Floyd Y. Keeler Reply to letter from Mr. Keeler suggesting reduction 10/14 11._ ttduction to 33-1/3 required for purchase of grain contracts, ' reply to suggestion from Mr. F. C. Willis, 10/24 N. C. Greensboro, . R Red suggested by Mr. N. Leonard Jarvis, reply of 12/11 Chairman Eccles to Re gulations T and U, administration and enforcement, liberalization re substitution of securities in under-margined accounts, discussion at Presidents Conference, matter to be considered 2/28 further Re gulation U for banks and Regulation T for Brokers, views 2/11 requested from FAC before next meeting Schram, Emil, letter from Chairman Eccles in reply to 3/10 s Pecial Miscellaneous Account under section 4(f)(6), deposit of securities for protection of broker, reply to inquiry from Paine, Webber, Jackson 2/26 ‘0 & Curtin ,Ilit , Manfred R., Regulation W, reply to letter suggesting 2/14 repeal sent to Senator Myers http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 915 916 975 804 1097 192 375 15 687 54 77 477 509 756 1350 1355 1429 1481 1740 293 202 366 265 212 213 Pages 411%ha11 Plan for assistance to European countries, participation of members of Division of Research and Statistics in work connected with approved after discussion 7/11 'Alassachusetts : Examinations of holding company affiliates by Commissioner of Banks of, FRBank of Boston authorized to furnish information re Baystate Corporation and Shawmut Corporation, information from reports of examination on national banks to be obtained from Comptroller of the Currency or District Chief National Bank Examiner in Boston 7/10 Law permitting delayed remittance for cash items, letter to FRBank of Boston on changes in check'collection circular 11/ 5 I ttri A _gs: 'Imerican Agricultural Editors Association, at Board, to hear 1042 1036 1530 talks by Chairman Eccles and Messrs. Thomas, Young and Knapp 5/ 6 684 , 13,oard of Governors, executive session 11/ 4 1519 ‘Jonsumer credit, report of Council of Economic Advisers read to President and others at White House, discussion by Chairman Eccles 4/11 549 Inter American Statistical Institute, meeting to be held on September 6-161 Messrs. Thomas, Knapp, Gerschenkron, and Grove to be named as delegates 5/22 777 National Advisory Council, Chairman Eccles to attend before leaving for 'hest 4/16 587 Nat' nal Association of Supervisors of State Banks, annual, to be held in Washington, invitation to be extended for luncheon or dinner if no objection by Chairman Eccles 4/23 624 01 Qahorna Bankers Association, Mr. Clayton to attend 50th Anniversary celebration in Tulsa 4/15 574 Tre,, ' - 11rY, Messrs. Eccles and Sproul present to discuss Treasury financing, report of Chairman Eccles 618 4/23 Treat., °IarY financing, Chairman Eccles to attend at Treasury kekber before leaving for 'Nest 4/16 587 AlniA in FRSystem: AlZama Exchange Bank, Tuskegee, Alabama, application approved5/19 743 8kan banks, amendment to bill to authorize admission of Alaska as State suggested re, comments requested from FRBank of San Francisco 7/25 1104 AMerican State Bank, Mackay, Idaho, application approved, no cash dividends to be paid on common stock for first three years and fixed assets to be depreciated at maximum rates allowable for income tax purposes 5/28 803 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 214 Pages Menbership in FRSystem: (Continued) APPlication for, views of FDIC to be taken into consideration, in connection with application of Falcon Heights State Bank, St. Paul, Minn. 6/19 APPlications disapproved: Union State Bank, Carrizo Springs, Texas, application not approved after discussion of recommendations of FRBank of Dallas and Division of 8/20 Examinations AAplications, doubtful: Falcon Heights State Bank, St. Paul, Minnesota, action to be deferred until agreement reached re 6/19 adequacy of capital Article in Nashville Tennessean Magazine on value to small 8/28 bank 8ank of Bluffs, Illinois, application approved 1/ 2 Bank of Commerce, Newark, New Jersey, application approved subject to condition re paid up and unimpaired capital stock, trust powers not to 4/30 be exercised without permission of Board Bank of Houston, Missouri, granted extension of time to 1/29 accomplish Bank of Leighton, Alabama, application approved, to be entitled to benefits of deposit insurance under 7/31 provisions of section 12B of FRAct ank 01 Meeker, Oklahoma, application approved, losses to be eliminated, management procedures to be 3/27 improved Bank of Rhame, North Dakota, application approved, number of directors to be increased to not less than 9/23 five to objection accomplish, no to Granted extension of time admission with only three directors, number 10/21 to be increased as required later 8 Granted extension of time to accomplish 12/ 2 a k of Sheridan, Montana, question of resolving management satisfactorily, to be held in abeyance for discussion at Presidents Conference if agreement not reached at FRBank of 2/20 Minneapolis No objection to admission with present management, after discussion with FDIC, extension of time 3/ 4 granted to complete Bastrop Bank & Trust Co., Bastrop, Louisiana, application 2/ 6 approved ul Gardens Bank, Bell Gardens, California, application approved, three months allowed for accomplishment 4/ 7 Bla t ckshear Bank, Blackshear, Georgia, application approved 1/29 '''°awell State Bank, Boswell, Oklahoma, application approved 4/22 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 943 1198 943 1229 4 661 141 1123 467 1318 1469 1679 227 326 179 523 140 616 Me 215 Pages mbership in FRSystem: (Continued) Bronxville Trust Company, Bronxville, New York, application approved, subject to charge off of esti5/23 mated losses Capital requirements of banks without branches, amendment to section 9 of FRAct suggested by Presi2/28 dents Conference Capital requirements of banks with branches, letter to FRBanks for information and comments on proposed 7/28 legislation Capital requirements for admission of State banks, views of 10/ 7 Presidents on proposed legislation Discussion of memo of Legal Division re, questions to be discussed with Comptroller of the Currency and matter to be considered in near 11/21 future bill, draft Letter to Comptroller of the Currency with 12/ 5 views requested Check collection service, effect on, discussion of 9/30 Citizens Bank of Cape Vincent, New York, application 12/15 approved CitizAns Bank, Colquitt, Georgia, application approved, excess balances in nonmember banks to be re1/17 duced to within statutory limits Citizens Bank of Darlington, South Carolina, application approved, subject to charge off of estimated losses, practice re withdrawal of savings 1/24 deposits to conform with regulations Citizens Bank of Saline, Michigan, application approved 8/28 Citizens Bank, Savannah, Tennessee, application approved, additional powers not to be exercised with3/ 7 out permission of Board Citizens Banking Company, Celina, Ohio, application approved, savings accounts to be brought into conformity with law and corrective action re loans in violation of Regulation U to be 3/ 7 taken Citizens 8/29 Texas, application approved Anton, Bank, State C itizens State Bank, Ysleta, Texas, application approved, additional powers not to be exercised without permission, three months given to 3/27 accomplish Cleo State Bank, Cleo Springs, Oklahoma, application approved, subject to condition re paid-up 1/15 and unimpaired capital Co 12/26 mmercial Bank of Delta, Utah, application approved C°mmercial Bank of Payson, Utah, application approved, subject to condition re paid-up and unim12/26 paired capital stock http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 794 309 1107 1385 1625 1709 1341 1764 86 107 1228 353 352 1239 469 64 1834 1833 Me 216 Pages mbership in FRSystem: (Continued) Community Bank and Trust Company, New Haven, Conn., application approved, savings accounts to be brought into conformity with law, proper organization for fiduciary business to be secured at once, and compliance with con12/19 dition 6 waived Compulsory of national banks in territories and their admission as States, amendment to H. R. 49 to require national banks in Hawaii to becme members upon admission of Hawaii as State, matter to be taken up with Messrsi 0/17 Hanl and Delano before action C onditions: Changes in, and proposed amendments to RegulatiOn F re investment of trust funds, action to be deferred until conclusion of litigation 4/ 7 re, advice to FRBanks No. 3, applicability to sale of real estate mortgages 5/13 by State member banks No. 6, suggestion of Presidents as to amendment regard2/28 ing uninvested trust funds Security Trust Company, Lexington, Kentucky, change under condition 2 in corporate powers to permit conduct of commercial banking business 10/31 approved C rn 3/27 City State Bank, Deshler, Ohio, application approved C ulbertson State Bank of Culbertson, Montana, application approved, number of directors to be in1/24 creased to not less than five o°10bs Ferry Bank, Dobbs Ferry, New York, application approved, corrections to be brought about in activi1/ 7 ties of trust department Dollar Savings Bank Company, Niles, Ohio, application approved, subject to condition re paid-up and unim1/ 2 paired capital stock p 1/30 Granted extension of time to accomplish alcon Heights State Bank, St. Paul, Minnesota, application for, action to be deferred until agreement 6/19 re adequacy of capital armerts and Merchants State Bank of Rush County, LaCrosse, Kansas, application approved, requirements re withdrawal of savings deposits to be 3/25 into conformity with law brought PpIn ,-, practices and policy re, reply to letter from Mr. Han, Messrs. Sailor and Leonard to discuss 4/ 8 matter First State Bank of Froid, Montana, application approved, number of directors to be increased to not less than five, letter to Schnitzler Corporation re holding company affiliate status 1/24 to be transmitted http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1814 1447 525 721 290 1514 467 111 12 3 148 943 463 536 108 217 Pages tlembership in FRSystem: (Continued) First State Bank, Gould, Oklahoma, application approved, excess balance on deposit with nonmember bank to be reduced 10/31 1513 First State Bank of Green's Bayou, Houston, Texas, application approved, bank situated in unincorporated community of Green's Bayou outside of Houston 10/16 1435 First State Bank of Greggton, Texas, application approved, time to accomplish limited to 60 days 9/23 1318 . Granted extension of time to accomplish 10/28 1489 First State Bank, Junction, Texas, application approved 10/ 8 1408 Granted extension of time to accomplish 10/28 1488 rirst State Bank, LaMarque, Texas, application approved, additional powers not to be exercied without permission of Board 8/28 1228 First State Bank, Premont, Texas, application approved, power to issue and sell investment certificates not to be exercised without permission of Board 5/29 825 G allatin County State Bank, Ridgway, Illinois, application approved, subject to certain condition re paid up and unimpaired capital stock 5/ 6 685 Grants State Bank, Grants, New Mexico, application approved 6/12 904 HaMpton Oaks State Bank, Houston, Texas, granted extension of time to accomplish 1/ 2 4 Hawaiian banks, amendment to bill to authorize admission of Hawaii as State suggested re, comments requested from FRBank of San Francisco 7/25 1103 Hawaiian and Alaskan banks, question of compulsory membership for national banks outside continental United States, memo and draft of letter to Congressional committee to be prepared for consideration 8/ 7 1150 Hereford State Bank, Hereford, Texas, application approved, power to issue and sell investment certificates not to be exercised without permission of Board 5/23 795 Hopkins State Savings Bank, Hopkins, Michigan, application withdrawn upon advice of FDIC examiners, letter to FDIC protesting such practices 2/ 7 186 Jeff Davis Bank & Trust Company, Jennings, Louisiana, appliLibcation approved 1/27 131 ertY County Bank, Chester, Montana, application approved, subject to increase in number of directors to not less than five 9/10 1266 vingston State Bank, Livingston, Montana, application approved 8/11 1164 t riteno State Bank, Manteno, Illinois, application approved 7/ 7 1024 "roe State Bank, Monroe, Utah, application approved, reservation of right to require 30 days written notice before withdrawal of savings deposits necessary 12/11 1736 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 218 Pages • rship in FRSystem: (Continued) Nassau Union Bank, Glen Cove, New York, application ap925 6/16 proved Reasons for and advantages of, information sent to Mr. John 2/20 231 Y. Beaty, Editor, Bankers Monthly Security State Bank, Littlefield, Texas, application approved, . exercise of trust powers not to be under1337 9/29 taken without permission of Board Security Trust Company of Rochester, New York, application approved, subject to charge off of losses, retention and operation of branches at Fairport, 11/20 1600 Pittsford, andDamville approved State Bank of Morton, Washington, application approved, number of directors to be increased to not 12/17 1784 less than five Texa. Bank & Trust Company of Dallas, Texas, application approved, proposed expenditure for banking quarters approved, additional powers not to be exercised without permission of Board 11/ 7 1534 Union State Bank, Carrizo Springs, Texas, application not approved after discussion of recommendations of FRBank of Dallas and Division of Examinations, FRBank of Dallas to be notified 8/20 1198 by telephone Ullion State Bank, Upton, Wyoming, application approved, subject to condition re paid-up and unim10/ 9 1414 paired capital stock Waxahachie Bank and Trust Company, Waxahachie, Texas, 522 application approved )4/ 7 trItthe PRBank of New York, erection of memorial to staff members who served in World War II and to those who died 1/ 3 in service, authorized by CPA Itzler, Lloyd A., transportation expenses and salary approved in connection with checking of paper on "Exchange Rates and the International Monetary 6/ 4 Fund" 9 846 Audit of certified statements submitted for assessment purposes by insured banks, experimental program by 11/ FDIC to be extended to vsrsity of: (See University of Michigan) 5 1531 service: ii!r7 'nefits, discontinuance of additional, service credit under Retirement System and reimbursement for cost of premiums on National Service Life Insurance, to be discussed at Presidents 7/18 Conference Special, January 1, 1948, to be termination date for 11/12 employees entering, advice to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1076 1544 tarY service: (Continued) Buckley, Thomas N., telegraph 219 Pages operator, reinstatement upon return from military leave and salary approved 1/27 gore, J. Edward, reinstatement as Administrative Assistant in Division of Personnel Administration and salary approved upon return from military leave 4/ 3 Retirement system, benefits to employees, discontinuance of certain, discussion at Presidents Conference of uniform policy, letter to be sent to FRBanks outlining program 10/ 7 Rice 3 Violet M., resignation accepted upon termination of leave 2/26 Tre acY, Norbert C., guard, resignation accepted upon return from military leave 2/14 V. E., redesignation as special assistant examiner at Los Angeles approved upon return from military leave 7/ 2 41-11"2 A. M., reimbursement by FRBanks to member banks of postage and other transportation costs on cash items, reply to letter enclosing resolution adopted by Wichita Falls Clearing House Association, kLrm Wichita Falls, Texas -Leap • 9/29 °118 Anti-inflation Council, Regulation Ar, reply to letter Mirth from Mrs. Olson sent to Congressman Judd 5/26 --esc)ta Bankers Association, luncheon with Board, invitation ki to be extended during visit to Washington 5/ 1 130 506 1388 262 211 .1015 1338 799 671 Ecuador: Grove, David L., trip to advise Government on monetary matters approved, instructions re 341 3/ 7 871 Valley Authority: 1156, to establish, reply to routine inquiry to be deferred Chairman Eccles to send letter to Senator Murray re, and Messrs. Vest, Morrill, and Idota Thurston to discuss matter with Mr. Anderson 5/13 719 e, E. W., applicability of Section 32 of Banking Act of 1933 to special partner of firm in underwriting business and to sister of individual, reply 1441el, , to inquiry 9/30 1353 eliveries: berY of messengers delivering money to and from Seattle Branch, information from FBI re plans for, question to be discussed at Presidents ko Conference 2/19 225 Sta. te member banks, issuance of capital debentures to shareholders in lieu of common capital stock, reply to FRBank of Minneapolis re 7/ 9 1030 Z http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 220 Pages tfOrtgages: Sales by State member banks, statement to be published in FRBulletin 5/20 Moving pictures: SYstem, FRBank of Cleveland to make original picture for educational job for System, authorization to be requested, discussion at Presidents Conference 10/ 7 Films to be used as educational project, authorization for expenditure to be deferred 10/17 Ikrers, Senator Francis J., Regulation W, reply to letter from Mr. Marini suggesting repeal of, sent to 2/14 Rep].Y to letters from constituents objecting to 7/24 --41.3a Advisory Council: LOan by Bank for International Settlements to Centrai Bank of Turkey and policy re future loans, to be placed on agenda at next meeting and paper re to be prepared by Staff Committee, letter Na to Mr. Glasser 10/ 3 tiona.1 Advisory Council on Domestic Credit Extension, draft of bill prepared by Treasury Department to establish, Board not in favor of, Mr. Lynch, General Counsel of Treasury, to be advised 12/15 National Affairs Committee, Vacuum Cleaner Manufacturers Association, Regulation W y reply to letter requesting removal of credit restrictions on 1/15 vacuum cleaners 14tion ID al Archives: Nationtruction of records, list submitted for review 4/30 "d1 Association of Securities Dealers, Inc., amendment to section 4(c) of Regulation T to extend time for settlement for bona fide cash transaction in special cash account recommended by, copies of correspondence and draft of amend12/ 4 ment sent to FRBanks for consideration meeting to be held in Washington, invitation to be extended for luncheon or dinner if no objection by Chairman Eccles 4/23 Dinner guests of Board at Mayflower Hotel on September 25, invitations to include Comptroller of the Currency, representatives from Treasury, and Board of FDIC, Messrs. Evans and Clayton 6/20 to make arrangements for Letter to Mr. Elmore re dinner 6/30 credit policies during inflation, joint statement to be issued re, to be revised by Mr. Clayton and discussed with Treasury before review with 11/17 Joint statement re, discussion, to be considered by Board while being reviewed by representative group of 11/21 /3 Joint statement on bank credit policy issued 11/24 "Ilk holding company bill, in favor of 11/18 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 748 1402 1444 212 1099 1370 1747 65 665 1686 624 952 996 1560 1606 1635 1590 221 Pages National banks: (Continued) American National Bank of Austin, Texas, acceptances up to 100% of capital and surplus, authority rescinded 3/18 American National Bank of Jacksonville, Florida, granted permission to maintain same reserves as banks outside central reserve and reserve cities 9/30 American National Bank of Miami, proposed consolidation with First National Bank of Miami, Fla., question of holding company affiliate relationship of Genesee Corporation and W. R. Reynolds & Company and necessity for obtaining voting permit 5/14 American National Bank of Terrell, Texas, acceptances up to 100% of capital and surplus, authority rescinded 3/18 Anglo California National Bank of San Francisco, Ca:1if., Regulation W, reply to inquiry concerning applicability to acceptance of trade-in for automobile 6/2 AshawaY National Bank, Ashaway, R.I., acquisition of assets and assumption of liabilities by Industrial Trust Company, Providence, R.I. 3/5 Bank of America National Trust and Savings Association, San Francisco, Calif., mentioned in letter to Mr. Sproul on loan to National Bank of Nicaragua 3/4 Applications to establish branches, material to be prepared for Mr. Wiggins in discussions with Comptroller of the Currency 3/14 Establishment of branch at Manila, Republic of the Philippines, previously authorized 3/18 Granted permission to accept drafts or bills of exchange for purpose of furnishing dollar exchange 6/13 Granted extension of time to establish branch at Shanghai 6/20 China Order authorizing establishment of branch at Tokyo, Japan 6/30 Participation in election of Class B director at FRBank of San Francisco, information to be requested from, telegram to FRBank of San Francisco 9/29 Ineligible to participate in election of Class A and Class B directors of FRBank of San Francisco 10/17 Conversion of banks acquired by Transamerica into branches of, Chairman Eccles to ask Mr. Delano to defer action on applications until decision re investigation by Board 11/17 Granted extension of time for establishment of branch at Shanghai, China 12/18 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 421 1349 726 421 832 336 329 409 420 912 964 994 1336 1451 1561 1790 222 Pages Nationni banks: (Continued) Barnett National Bank, Jacksonville, Florida, trust investment committee under Regulation Fy name immaterial, advice to FRBank of Atlanta 10/24 1480 Be Beach Haven National Bank and Trust Company, Beach Haven, New Jersey, penalties for deficiencies in reserves waived 2/13 206 Branches, letter to be prepared to Comptroller of the Currency on legislation to correct discriminati on11/26 1643 Br °adway National Bank of Tampa, Florida, penalty for deficiency in reserves waived 12/26 1834 nage National Exchange Bank, negotiations with Northern New York Trust Company, nothing imminent re, advice to FDIC 508 4/ 3 Central National Bank of Richmond, Virginia, acceptances up to 100% of capital and surplus, authority Chaserescinded 4/ 9 540 National Bank, New York, order authorizing establishment of branch at Berlin, Germany 523 4/ 7 Order authorizing establishment of branch at Tokyo, Japan 6/30 993 Order authorizing establishment of branch at Frankfurt am Main, Germany 10/21 1467 Order authorizing establishment of branch in Stuttgart, Germany, approved 12/11 1736 citi2sns and Peoples National Bank of Pensacola, Florida, acceptances up to 100% of capital and surplus, authority rescinded 1/23 101 Citi7 -ens, National Bank of Evansville, Indiana, application for fiduciary powers approved 7/ 9 1032 Citizeris National Bank of Hillsboro, Texas, acceptances up to 100% of capital and surplus, authority rescinded 3/18 421 °itizsns National Bank of Orlando, Florida, application for fiduciary powers approved 9/24 1324 County National Bank, Vancouver, Washington, acquisition of assets and assumption of liabilities by Seattle-First National Bank of Seattle, Washington, not necessary for United States National Corporation to surrender voting permit Comm_ 9/12 1273 -"rce National Bank of Toledo, Ohio, application for fiduciary powers approved upon conversion from Commerce Guardian Bank Corn, 5/ 6 687 cial National Bank of Kansas City, Kansas, application for fiduciary powers approved 1/ 8 23 —41Llon reports: Call as of December 31, 1946 1/ 3 7 SPring call not to be made 3/12 395 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Natlonal • 223 Pages banks: (Continued) Condition reports: (Continued) Gall as of June 30 7/ 2 1014 Call as of October 6 10/ 8 1405 C°11tinental National Bank of Fort Worth, Texas, opposition to policy of reimbursement for transportation costs on cash items, discussion at FAC meeting 9/23 1298 C onversion or consolidation with State banks, proposed bill to permit, letter to Mr. Needham, ABA, re 12/ 5 1710 C openhagen National Bank, Copenhagen, N. Y., negotiations with Northern New York Trust Company, nothing imminent re, advice to FDIC 4/ 3 508 Establishment of branch in Copenhagen by Northern New York Trust Company, Watertown, N. 1., approved in connection with proposed purchase of assets and assumption of liabilities of 10/ 8 1408 Exaraination reports, recommendations of Conference of Examiners re analysis approved, advice to FRBanks 11/20 1603 Pressure by examiners to write off premiums on Government bonds 12/19 1804 Farmers Deposit National Bank of Pittsburgh, Pa., eligible to vote in election of director at FRBank of Cleveland 9/26 1334 PaYette National Bank and Trust Company, of Uniontown, Penna., application for fiduciary powers approved 5/ 8 693 First and Merchants National Bank of Richmond, Va., acceptances up to 200% of capital and surplus, authority rescinded 4/ 9 540 First and Peoples National Bank of Gallatin, Tenn., surrender of fiduciary powers approved 7/ 9 1031 First Citizens National Bank of Upper Sandusky, Ohio, authority to act as trustee for local municipal bond issues granted 3/13 398 First Farmers and Merchants National Bank of Troy, Alabama, determined not to be holding company affiliate except for purposes of section 23A of FRAct 12/31 1846 Pi rst National Bank of Akron, Ohio, application for fiduciary powers approved upon conversion from FirstCentral Trust Company, Akron, Ohio 2/27 271 Pirst National Bank of Anchorage, Alaska, application for fiduciary poKers, form to be filled out and sent to Board, advice to bank and to FRBank of San Francisco 3/10 360 APPlication for fiduciary powers approved 672 5/ 1 ....vst National Bank of Arizona, Phoenix, Ariz., voting permit issued to Transamerica Corporation to vote stock of 11/ 5 1529 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 224 Pages Natdonal banks: (Continued) First National Bank of Baltimore, Maryland, acceptances up to 100% of capital and surplus, authority rescinded 4/ 9 539 Acceptance of nonpar items free of exchange by member bank in Baltimore, reply to inquiry from Mr. Graham re violation of Regulation Q 7/18 1077 First National Bank of Boston, orders authorizing establish ment of branches at Sao Paulo and Santos, United States of Brazil 5/ 8 691 First National Bank in Brownwood, Texas, acceptances up to 100% of capital and surplus, authority rescinded 3/18 421 First National Bank, Canadian, Texas, absorption of postage and other charges for certain banks, reply to letter from Mr. Wilbur sent to Congressman Worley 9/18 1285 First National Bank of Catawba County, Hickory, North Carolina, application for fiduciary powers approved 1/13 46 First National Bank of Clarksville, Tennessee, acceptances up to 100% of capital and surplus, authority rescinded 1/23 101 p. National Bank in Dallas, Texas, issuance of general voting permit to vote stock of American National Bank of Oak Cliff, Dallas, Texas, approved subject to certain conditions 637 4/25 OPposition to policy of reimbursement for transportation costs on cash items, discussion at FAC meeting 9/23 1298 First National Bank of Danville, Virginia, acceptanc es up to 100% capital and surplus, authority rescinded 540 b/9 P. lrst National Bank of Eldorado, Texas, granted authority to act as executor and trustee of will and estate of W. A. Davis 10/ 2 1359 First National Bank of Handley, Fort Worth, Texas, granted permission to maintain same reserves as banks outside central reserve and reserve cities 12/11 1739 '-'St National Bank of Miami, proposed consolidation with American National Bank of Miami, Fla., question of holding company affiliate relationship of Genesee Corporation and W. R. Reynolds & Company and necessity for obtaining voting permit 726 5/14 Pirst National Bank of Mooresville, North Carolina, surrender of fiduciary powers approved 1369 10/ 3 p. National Bank of Navasota, Texas, acceptances up to 100% of capital and surplus, authority rescinded 3/18 421 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 225 Pages Nat 013a1 banks: (Continued) First National Bank, Palestine, Texas, letter to Mr. Hufsmith on establishment of profit policy for banks 4/11 567 First National Bank of Portland, conversion of banks acquired by Transamerica into branches of, Chairman Eccles to ask Mr. Delano to defer action on applications until decision re investigation by Board 11/17 1561 First National Bank of San Angelo, Texas, acceptances up to 100% of capital and surplus, authority rescinded 3/18 421 First National Bank of Tampa, Florida, holding company affiliate status, question to be reconsidered because of change in situation 5/29 827 Determined to be holding company affiliate, reveYsing previous decision 7/22 1091 Determined not to be holding company except for purposes of section 23A of FRAct 12/ 5 1707 Fir Bank of Waco, Texas, acceptances up to 100% of capital and surplus, authority rescinded 3/18 421 First National Bank and Trust Company, Bridgeport, Conn., inquiry re investment of certain funds in participations in common trust fund operated by, contrary to provisions of Regulation F2 advice to Mr. Wheeler 8/ 8 1157 First National Bank and Trust Company of New Haven, Conn., account used for trafficking in gold, statement of Treasury and FRBoard to be brought to attention of holder and no positive action to be made in support of gold operations 8/18 1192 Fir , su National Bank and Trust Company of Tulsa, Okla., protest re reimbursement to member banks for transportation costs on direct sent cash lettersl advice to FRBank of Kansas City 8/25 1212 First National Trust and Savings Bank of San Diego, Calif., loans to trustors of revocable living trust, applicability of Regulation F 6/19 945 ?laton National Bank, Atlanta, Ga., discount of participation certificates for, rate fixed for FRBank of Atlanta 11/18 1592 4vsth National Bank of Franklin, Tennessee, application for fiduciary powers approved 9/ 8 1257 .`1, compulsory membership in FRSystem in event of admission as a State discussed 10/17 1447 RaWa 4 4-Lan and Alaskan banks, question of compulsory membership in FRSystem for national banks outside continental United States, memo and draft of letter to Congressional committee to be prepared for consideration 8/ 7 1150 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis National 226 Pages banks: (Continued) Kensington National Bank of Philadelphia, Pa., purchase of assets and assumption of liabilities byPennsylvania Company for Insurances on Lives and Granting Annuities, Philadelphial Pa. 2/24 Louislan • National Bank, Baton Rouge, Louisiana, penalties for deficiencies in reserves waived 8/29 14.a.rquette National Bank, Chicago, Illinois, application for fiduciary powers approved 7/21 liklalon National Bank and Trust Company, Pittsburgh, Pa.: granted limited permit to vote stock of Farmers Deposit National Bank of Pittsburgh, Pa. 1/13 Determined not to be holding company affiliate except for purposes of section 23A of FRAct 8/1/1 Determined not to be holding company affiliate, eligible to vote in election of director at FRBank of Cleveland 9/26 Me National Bank in St. Louis, Mo.: AccF,.ptancesup to 100% of capital and surplus, authority to be rescinded unless objection submitted by bank 1/27 Acceptanca3up to 100% of capital and surplus, authority rescinded 3/21 Purchase of capital stock by Mercantile-Commerce Bank and Trust Company, St. Louis, not permissible under Banking Act of 1933 8/14 Mer chantsf National Bank of Hampton, Virginia, acceptances up to 100% of capital and surplus, authority rescinded 4/ 9 Michigan National Bank of Lansing, Michigan, threatened suit against Board re amendment to Regulation D, matter referred to Messrs. Clayton and Szymczak, Board to submit alternative actions to FRBanks and FAC, Mr. Carey, Attorney, to be advised 6/20 Si-t re amendment to Regulation DI filing to be deferred pending further Board action re designation of reserve cities after next meetings of Presidents and Federal Advisory Council 7/ 2 44tional Bank of Commerce of Norfolk, Virginia, acceptances up to 100% of capital and surplus, authority rescinded 4/ 9 National Bank of Detroit, Mich., election of Prentiss M. Brown as director, to continue to serve Detroit Branch until end of year 7/18 National Bank of Mt. Olive, Illinois, penalty for deficiency in reserves waived 12/19 National City Bank of New York, order authorizing establishment of branch at Cebu, Republic of the Philippines, approved 4/ 3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 246 1239 1082 47 1180 1334 132 445 1181 540 960 1003 540 1077 1815 507 227 Pages National banks: (Continued) National City Bank of New York: (Continued) Letter from Mr. Randolph Burgess, Vice Chairman, stating 4/11 views re monetary reforms in Philippines Order to establish additional branch at Manila, Republic of the Philippines, approved 5/9 Granted extension of time to establish branch at Porto 7/9 Alegre, Brazil Order authorizing establishment of branch at Clark Field, 7/29 Republic of the Philippines Order authorizing establishment of branch in Osaka, Japan, 8/8 approved National Kittanning Bank, Kittanning, Penna., no objection to purchase of assets and assumption of deposits by Safe Deposit and Title Guaranty 2/14 Company, Kittanning, Penna. National Marine Bank of Baltimore, Maryland, acceptances up to 100% of capital and surplus, authority rescinded 4/9 National Shawmut Bank of Boston, Mass., issuance of general voting permit to vote stock of three national 1/10 banks approved Loans to beneficiaries for purchase of stock of trust, applicability of Regulation U 4/24 National Stock Yards National Bank, National Stock Yards, Illinois, objection to designation of city 11/21 as reserve city Nebraska City National Bank, Nebraska City, Nebr., surrender of fiduciary powers approved 4/30 Northern National Bank at Presque Isle, Maine, and Washburn Trust Company at Washburn, Maine, not contiguous or adjacent under Clayton Act, tele1/8 gram to FRBank of Boston application supplemental N°PllaY National Bank, Norway, Maine, 2/18 for fiduciary powers approved PeoPles application Lynchburg, Virginia, National Bank of for fiduciary powers approved 4/9 Peoples National Bank of Rock Hill, S.C., acceptances up to 100% of capital and surplus, authority rescinded 4/9 Phenlx • National Bank of Providence, Rhode Island, applica12/24 tion for fiduciary powers approved RePUblic National Bank of Dallas, Texas, issuance of limited voting permit to vote stock of three 1/10 national banks approved RePublic National Bank of Dallas, Texas, and Republic National Company, Dallas, applications to vote stock in affiliated banks, not to be approved until Republic National Company provides additional capital funds or makes other arrangements for holding bank stocks now carried with City 8/29 funds http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 560 697 1030 1110 1153 211 539 36 631 1610 662 23 222 540 540 1827 37 1231 228 Pages National banks: (Continued) Seaboard Citizens National Bank of Norfolk, Virginia, acceptances up to 100% of capital and surplus, authority rescinded 4/ 9 Seattle-First National Bank of Seattle, Washington, acquisition of assets and assumption of liabilities of Clark County National Bank not necessary for United States National Corporation to surrender voting permit 9/12 Section 5219 of U. S. Revised Statutes, taxation by States, proposed amendment to, no objection to 1/30 South Carolina National Bank of Charleston, S. C.) acceptances up to 100% of capital and surplus, authority rescinded 4/ 9 State National Bank of Corpus Christi, Texas, acceptances up to 100$ of capital and surplus, authority rescinded 3/18 Travel bureau business, propriety of entering, reply to letter from Mr. Edgar Josephson, Jr. 7/ 2 Union Natjonaj. Bank of East St. Louis, Illinois, application for fiduciary powers approved upon conversion from Union Trust Company of East St. Louis, Ill. 1/27 West Seattle National Bank of Seattle, Washington, granted permission to maintain same reserves as banks outside central reserve and reserve cities 11/ 5 Western National Bank of Baltimore, Maryland, acceptances up to 100% of capital and surplus, authority rescinded 4/ 9 Wheaton National Bank, Wheaton, In., application for fiduciary powers made by Wheaton Trust and Savings Bank approved 7/ 1 Natio jial Bureau of Economic Research: uurveY of urban real estate mortgage loans by, assistance by Natin FRSystem approved 7/ 2 -nal Conference of Business Paper Editors, to be invited by Natio Board to lunch during meeting in Washington 5/23 fla.1 Council of Economic Advisers: 'tead, William H., FRBank of St. Louis, no objection to parttime service with 3/ 5 i-nal Housing Act: S • 420, to amend, no objection to approval of bill by Presiadvice to Bureau of the Budget 7/31 dent, "e4 Labor Relations Act, amendment to exempt agencies of Federal Government, discussion in connection with threatened suit against FRBank of Na+.• Chicago „Lop 4/15 .1.1. Labor Relations Board: lBank of Dallas, informal investigation to be held to determine facts in case of discharge of 39 employees, Mr. Van Arkle to be advised of approval of Board and FRBank of Dallas 2/11 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 540 1273 152 540 421 1019 133 1528 540 1000 1020 791 332 1123 576 193 229 Pages 114 ional Labor Relations Board: (Continued) FRBank of Dallas: (Continued) Jurisdiction in case, question to be discussed at Presidents Conference 2/11 Report of Mr. Eads re discharge of 44 employees, statement of Mr. Townsend re situation, Personnel Committee to submit recommendation as to procedure to be followed 4/ 8 No action to be taken at present to reinstate two former employees, Messrs. Clouse and Terry 4/11 tiloar r°, Manuel A., mission of Mr. Grove to Ecuador, letter advising of plans Nor— 3/ 7 -ulember banks: Absorption of exchange charges in violation of Regulation Ql 7/11 list of Bank of Baltimore County, Towson, Md., establishment of branch in Towson, Md., by Fidelity Trust Company, Baltimore, Md., approved in connection with proposed merger of 11/28 Bank of Kirkmansville, Kentucky, assumption of deposit liabilities by Planters Bank and Trust Company, Hopkinsville, Ky., no objection to 2/19 of Philadelphia, New York, proposed absorption by Northern New York Trust Company, discontinuance of negotiations for, advice to FDIC 4/ 3 Bothell State Bank, Bothell, Washington, no objection to indebtedness of Mr. John N. Aamodt, Asst. Examiner at FRBank of San Francisco, for 6/25 loans to make improvements to home Carrick Bank, Pittsburgh, Penna., purchase of assets and assumption of liabilities by Colonial Trust Company, Pittsburgh 3/ h Chartiers Bank, McKees Rocks, Penna., establishment of branch at McKees Rocks by Commonwealth Trust Company of Pittsburgh in connection with ab3/10 sorption of, approved Cormercial Bank and Trust Company of Jackson, Miss., absorption of exchange charges, information 4/11 requested ' ellItodY accounts for nonmember banks, safekeeping of Treasury bills and certificates of indebtedness by 5/ 6 FRBanks to be terminated To be considered at Presidents Conference 5/16 To be discontinued, discussion at Conference of 6/ 6 Presidents pal Termination approved, instructions to FRBanks 6/18 'eon Heights State Bank, St. Paul, Minnesota, application for membership, action to be deferred until agreement re adequacy of capital 6/19 Ger mantown Trust Company, Philadelphia, Pa., absorption through merger by Pennsylvania Company for Insurances on Lives and Granting Annuities, Philadelphia, Pa. 2/24 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 196 531 551 341 1048 1677 224 508 981 327 359 566 689 741 866 940 943 246 230 Pages Nonmember banks: (Continued) Germantown Trust Company: (Continued) Merger of Common Trust Fund into Discretionary Common Trust Fund of Pennsylvania Company for Banking and Trusts, no objection to 8/ 8 1155 Guaranty Bank and Trust Company of Alexandria, La., absorption of exchange charges, information received 566 4/11 Industrial Bank of Commerce of New York, misleading aspects of advertisement to be discussed with 1/13 47 Kansas Trust Company, Kansas City, Kansas, consolidation with Commercial National Bank of Kansas City, application of national bank for fiduciary powers approved 1/ 8 23 Merchants and Farmers Bank, Meridian, Miss., absorption of exchange charges, information requested 566 4/11 Mill Valley Bank, Mill Valley, Calif., purchase of assets by American Trust Co., San Francisco, Calif., and establishment of branch in Mill Valley 5/12 704 Sharonville Bank, Sharonville, Ohio, absorption by Provident Savings Bank and Trust Company, Cincinnati, Ohio, and establishment of branch at Sharonville 4/21 613 Union State Bank, Carrizo Springs, Texas, application for membership not approved after discussion of recommendations of FRBank of Dallas and Division of Examinations, FRBank of Dallas to be notified by telephone 8/20 1198 Washburn Trust Company at Washburn, Maine, and Northern National Bank at Presque Isle, Maine, not contiguous or adjacent under Clayton Act, No1Nray. telegram to FRBank of Boston 23 1/8 8onds, Sinking Fund External Loan, reply to Mr. Arthur H. Novon, Dean on purchase by member banks 6/19 Mr. Carolos, capital shares of Pan American Trust Company of New York, sale of those held by Nacional Financiera and Banco Nacional de Comercio Exterior to private investors, reply to letter from 4/16 Eugene, appointment to succeed Mr. Musgrave, discussion no objection to outside teaching activities, Oftic, Mr. Thomas to negotiate with 10/21 Employees International Union, complaint re discharge of 39 employees by FRBank of Dallas sent to QNLRB ,discussion 2/11 OI wioma Bankers Association, Mr. Clayton to attend anniversary OtL._ celebration in place of Mr. Eccles 4/15 A. E., Regulation WI abolition of, reply to letter sent to Congressman Latham 1/13 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 949 598 1464 193 574 48 231 Pages Olso Magnus, Secretary of Minneapolis Anti-inflation Council, Regulation W, reply to letter in support of sent to Congressman Judd 041,1, 5/26 —44eY, Senator Joseph C. Chairman Eccles to advise of views of Board on Senate draft of Kefauver Bill 14/8 013e2..1041 report on, sent to 4/16 'ating ratios of member banks, work sheets (Form 456) sent to FRBanks 10/ 8 Orders: Bank of America N. T. & S. A., order authorizing establishment of branch at Tokyo, Japan 6/30 Chase Bank, New York, N. Y., to establish branch in Berlin, Germany 4/ 7 Order authorizing establishment of branch at Tokyo, Japan 6/30 Order authorizing establishment of branch at Frankfurt am Main, Germany 10/21 Order authorizing establishment of branch in Stuttgart, Germany, approved 12/11 First National Bank of Boston, orders authorizing establishment of branches at Sao Paulo and Santos, United States of Brazil 5/ 8 N • Nat City Bank of New York authorized to establish branch at Cebu, Republic of the Philippines 4/ 3 Order to establish additional branch at Manila, Republic of the Philippines, approved 5/ 9 Order authorizing establishment of branch at Clark Field, Reuublic of the Philippines 7/29 Order authorizing establishment of branch in Osaka, Japan, approved 8/ 8 °Irtirote. 14_ . payments, FRBanks: '"Ietrictions on payments to exempt employees terminated, °well advice to FRBanks 3/19 ) Robert fromer Senator and Chairman of Senate Banking and Currency Committee at time of passage of FRAct, death of, floral tribute for Aacifi 7/21 funeral approved c Northwest School of Banking: Ati• vendance by officers and employees of FRBanks, draft of letter re to be revised and submitted to Board for further consideration 1/27 Policy of Board re expenses and leave of absence, advice A41 2/3 to FRBanks 'Iebber, Jackson & Curtis, margin accounts, reply to inquiry re deposit of securities in Special Miscellaneous Account under section 4(0(6) for protection of broker 2/26 NrtciPation certificates, discount under Section 13b for Fulton National Bank, rate of one per cent on purchases approved for FRBank of Atlanta 11/18 799 530 596 1410 994 524 993 1468 1737 692 508 698 1110 1153 423 L., http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1082 115 159 265 1592 Pata 232 Pages H. Davis & Co., partnership agreement with Mr. Franklin B. Evans, applicability of Regulation T 6/ 4 Paydays, frequency of, to be discussed at meeting with Presidents 2/27 Pel, 4.44zYlvania Bankers Association, to be invited to luncheon with Board during visit to Washington 4/23 Luncheon at Board, followed by informal discussion with Mr. Thomas answering questions presented by 5/ 1 Peter.. ;-°11, J. Hardin: Limitation on construction costs for FRBranch banks, legislation re, reply to letter from 3/25 Na&gulation W, reply to inquiry re present status of 3/20 phil in, Philip J., Regulation W, terms, reply to inquiry re 1/13 -'44)Pine Government, Messrs. Grove and Exter to assist in organization of central bank 12/19 Phil nes, monetary reforms in, letter from Mr. Randolph Burgess re and letter stating views of Board sent to Secretary of the Treasury 4/11 Nt ographs. Directors and chief executive officers, submission to Board to be discontinued 3/10 401cal examinations: Weiner, Louis, economist, appointment on temporary basis and salary approved in spite of failure to pass usual examination 8/14 Polioe Boys Club: 1)0nations to, reply to request of Mr. Simmons that employees be solicited for 2/17 Polio .4,e,Y records, Board of Governors: "eeignation of reserve and central reserve cities, standard of classification adopted 12/19 Draft of entries covering 1946, approved for publication in annual report, references to views of members of Board not present and not voting 2/21 on actions to be deleted Interest rate to be paid by FRBanks on FRnotes, not covered by gold certificates, outstanding during first quarter of 1947 4/23 Members actually participating in actions, votes to be recorded, but references to views of absent members 2/21 to be deleted Re gulations and U. amendment to supplements reducing margin requirements 1/17 7,g record, Federal Open Market Committee: 'raft of entries for 1946, question of recording personal views of Mr. Sproul, letter to Mr. Sproul to be prepared by Messrs. Clayton and Carpenter 2/21 A PProved for inclusion in Boardts annual report for 1946 4/25 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 847 269 623 670 465 440 49 1808 560 358 1178 218 1793 237 618 237 76 238 646 233 Pages political affiliations: • Blanchard, Joseph S., FRBank of Boston, relationship to be terminated unless additional information received 2/17 Hauser, William 0., FRBank of Boston, relationship to be terminated unless additional information received 2/17 Millsop, Thomas E., Class B director at FRBank of Cleveland, service to be discontinued at end of year because of election as Mayor of City of Weirton, West Virgnnia 10/24 Swartel T. C., no objection to service as director of Pittsburgh Branch and as member of State Banking Board 11/12 Pc)st ofp,-L -Lce Department: °stal money orders, procedure for handling by FRBanks, no change to be made in present practice, advice to Mr. Lawler 8/ 5 Pc)staget: Re intursement of direct sending banks for shipping costs, recommendations of Presidents Conference approved, FRBanks to be notified of effective date 6/ 6 Reb abursement of member banks for postage or other transportation costs on cash items routed direct to FRBanks and branches, information sent to FRBanks 6/26 Discussion of resolution of banking and clearing house associations in Dallas District protesting, procedure to become effective August 1, advice to Mr. Gilbert, other banks to be advised by telephone 7/31 Reply to inquiry from FRBank of Cleveland re report for week of August 18-23 8/11 P4tal money orders: lng by FRBanks, procedure re, no change to be made in present practice, advice Post Office Department 8/ 5 0:nt Of the U. S.: Quation of Hostilities, statement by, and Proclamation 2714, statements re to be published in January issue of FRBulletin 1/ 7 C°11sUmer credit, continuation of Board's authority, in favor of, discussion of procedure to be followed 4/11 C°11s1 mer credit legislation, letter for signature to be submitted to Board 5/23 Draft of letter for signature discussed 5/29 co_Form of letter for signature of President approved 6/ 4 "sumer credit - Regulation W, letter re legislation to be enacted, statement of Chairman Eccles at Presidents Conference 6/ 6 216 216 1478 1545 p http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1137 865 986 1119 1165 1137 20 549 789 821 842 881 234 President of the U. S.: (Continued) Consumer credit legislation to be brought to attention of for decision on revocation of Regulation Pages 7/11 1050 Letter to Mr. Clark Clifford recommending signing of Joint Resolution extending Regulation W until November 1 and enclosing suggested statement for issue 7/28 1105 Credit control during period of inflation, recommendations requested 11/ 5 1523 Labor bill (Taft-Hartley), letter in favor sent to White House after discussion and talk with Presidential Aide Clifford 6/17 927 Leg islation affecting Board of Governors requiring action before expiration date of June 30 and legislation needing action at present sessio of Congress, reply to inquiry n0 6/1 898 Margin requirements, to be advised that Board is considering reduction in 1/14 56 Regulations T and U, amendments to supplements to reduce margin requirements to 75%, no objection to 1/17 83 Tax pre ..H.R. 1, letter from Board recommending veto of 6/ 5 849 us bill,statements: All-bank statistical series, tabulation and publication of single series of assets and liabilities of all operating banks in U. S. by three Federal banking supervisory agencies to take place of, press statement and advice to FRBanks 11/ 7 1535 Bank credit policy during inflation, joint statement by Federal and State bank supervisory agencies issued, advice to FRBanks 11/24 1635 Joint statement re, advice to FRBanks re distribution to banks in districts 11/25 1639 Consumer instalment credit, statement to be issued by Board, in connection with program to combat inflation 10/17 1440 Go 1d, transactions by American commercial banks in, at premium prices, policy group on foreign interests to recommend to Treasury issuance of statement 5/20 753 International traffic at premium prices, proposed statement to request American banks to refrain from facilitating, memo re sent to Secretary of Treasury for comments 7/ 2 1018 International transactions at premium prices, statement by Treasury and Board requesting Americans to refrain from encouraging and facilitating, copy sent to FRBanks for publicity 7/22 1093 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 235 Pages Prese statements: (Continued) Interest rate on FRnotes, Mr. Eccles authorized to make changes in 4/11 Establishment approved 4/23 Copies to be sent to member banks if desired, advice to FRBanks 4/24 Uargin requirements reduced to 75%, statement of Chairman Eccles 1/17 tic,A1-..len State Bank, McAllen, Texas, errors in published statement, republication of report not 7/25 required Notice to FRBanks re amendments and other material to be released to press, discussion at Presidents 2/28 Conference of procedure to be followed Notice to FRBanks re non-confidential matters to be sent as early as possible 3/ 7 Regulations T and U, amendments to supplements to reduce 1/17 margin requirements to 75% Re gulation W, termination, statement to be issued, Mr. Thurston to prepare draft 10/21 ,., Statement re discontinuance, text sent to FRBanks 10/24 ''ettinius, Edward R., Jr., Class C Director, appointment for unexpired portion of term at FRBank of Richmond, usual press announcement to 7/ 2 be made ?roe' IVeeklY member bank, revision approved, advice to FRBanks 3/28 ,,!.mattpns: 4114 on cessation of hostilities, to be published in 1/ 7 PrA FRBulletin °Aicti Le on Credit Associations: riding activities, objections of FAC to, statement to be 11/18 revised Viol . .Lations of Regulation W found in, letter to Mr. C. H. P Arnold on 4/ 4 ' l°fit n 1 , - °-iaY for banks, reply to letter from Mr. C. L. Hufsmith 4/11 re establishment of Nbli 4A. ations: -4-11ank statistical series, Board to join with Comptroller of the Currency and FDIC to arrange for compilation and publication of single, letter 6/ 5 to Bureau of the Budget AUtomotive news, advertisement of American Bank Credit Plan on figures ascribed to FRBulletin on in4/ 2 stallment credit Riankers Monthly, membership in FRSystem, information re reasons for and advantages sent to Mr. 2/20 John Y. Beaty, Editor Bahl.. —Q-ng Studies, printing of additional copies and sale price 1/23 approved Oh artbook on consumer credit statistics, publication, price, and distribution approved 4/24 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 559 618 633 77 1102 294 346 83 1459 1482 1011 490 20 1579 521 567 854 500 231 103 6314 236 Pages 1°11blications : (Continued) "Debits and Clearings Statistics, Their Background and Interpretation", by George Garvey, FRBank of New York, publication and distribution authorized 7/ 2 Di stribution for Board members or staff, regulations to reduce expenses, copies to be sent to Board members and senior staff 3/20 Extension of instalment credit by banks and question of nonrecourse paper, publication of article in FRBulletin suggested by Mr. Wegner, inap10/ 8 propriate for Board Federal Reserve Charts on Bank Credit, Money Rates, and Business, to be published on monthly basis, 3/24 expenses and distribution approved PRAct,$ printing of additional copies approved 1/14 Federal Reserve Policy, postwar pamphlet No. 80 publication 11/26 authorized Federal Reserve System—Its Purposes and Functions, printing, distribution, and price approved, subject to approval of manuscript by Governor Evans 6/24 Revised edition, distribution and cost, advice re number 9/10 of copies heeded by FRBanks requested Meeting the Special Problems of Small Business, by Research and Policy Committee of Committee for Economic Development, endorsement of S.408 and H. R. 3268, FRBanks requested to 7/29 publicize Re wation V loans, study re, no objection to publication, 4/11 advice to FRBank of Richmond Sa ' rings bond booklet of Treasury, cost of printing to be Nroa 11/26 paid by Board ns Thomas R.I short selling on stock exchange, reply to 6/13 kkrii letter sent to Senator Tobey lei orPoration of America: levision sets, classification under RegulationiN as listed 4,14 6/16 articles equiPment, classification for purposes of Regulation WI 8/ 8 reply to inquiry from FRBank of New York Aci," %'uPtances, increase in buying rates, minimum buying rates 12/23 to be increased accordingly -hg and repurchase on Treasury bills, rate determined by 7/ 9 Federal Open Market Committee 1/uYing on Treasury bills, suggestion that daily rate be fixed 8/26 by FOIE rtificate, increase in or issuance of long-term security Certificate to prevent further decline in long-term 4/16 rates topic for discussion at FAG 0unt, advance in, no change to be made until increase in rate on Treasury certificates, matter to be 7/18 considered at Presidents Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1019 427 1409 454 59 1672 978 1268 1111 567 1670 913 926 1159 1823 1027 1215 591 1066 237 Pages Rate8: (Continued) Discount: (Continued) Increase contemplated in connection with anti-inflation program, statement of Chairman Eccles Increase suggested by FAC to control expansion of bank credit, discussion of at meeting with Bcard PRBank of Atlanta: Discounts or purchases, participation certificates, discount under Section 13b for Fulton National Bank, rate of one per cent on purchases approved Industrial advances under section 13b, one per cent to five per cent rate approved Schedules approved: 10/17 1440 11/18 1570 11/18 1592 11/21 1/10 1/24 2/7 2/21 2/28 1606 32 106 181 235 3/7 3/21 4/4 340 442 517 604 673 696 779 857 952 989 4/18 5/2 5/9 5/23 6/6 6/20 6/27 7/3 7/18 8/1 8/15 8/29 9/12 9/29 10/10 10/2.4 11/7 11/21 PRBank of Boston: Schedules approved: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 317 1022 1066 1126 1184 1236 1272 1327 1418 11477 1533 1606 12/5 1688 12/19 12/26 1792 1830 1/3 1/17 1/31 2/14 6 72 153 209 2/28 317 238 Pages R4E181 FRBank of Boston: (Continued) Schedules approved: (Continued) e ark of Chicago: edules approved: 3/14 3/28 4/11 4/25 5/ 9 5/23 6/6 6/20 7/ 3 7/18 8/i 8/15 8/29 9/12 9/26 402 473 547 636 696 779 857 952 1022 1066 1126 1184 1236 1272 1327 10/10 '418 10/24 11/ 7 11/21 12/ 5 12/19 1477 1533 1605 1688 1792 1/3 1/10 1/17 1/24 1/31 2/7 2/14 2/21 3/ 7 3/14 3/21 3/28 6 32 72 106 153 181 209 235 340 402 442 473 14/14 4/11 4/18 5/2 5/ 9 5/16 5/23 5/29 6/13 6/20 6/27 7/ 3 7/11 7/18 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 517 547 604 673 696 735 779 813 907 952 989 1022 1039 1066 239 Pages Batas, PRBank of Chicago: (Continued) Schedules approved: (Continued) FRBank of Cleveland: Schedules approved: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/25 8/ 1 8/ 8 8/15 1101 1126 1152 1184 8/22 8/29 1210 1236 9/ 5 9/12 9/26 lo/lo lo/17 lo/31 11/ 7 11/14 11/21 11/28 12/ 5 12/12 12/19 12/26 1250 1287 1327 1418 1439 1511 1533 1554 1605 1676 1688 1742 1792 1830 Vio 1/24 2/7 2/14 2/28 3/14 3/28 4/11 4/25 5/ 9 5/23 6/6 6/13 6/27 7/11 7/25 8/ 8 8/15 8/29 9/12 9/26 lo/io lo/24 11/ 7 illi4 11/28 12/12 12/19 12/26 32 106 181 209 317 402 473 547 636 696 779 857 907 989 1039 1101 1152 1184 1236 1272 1327 -008 1477 1533 1554 1676 1742 1792 1830 Rates, FRBank of Dallas: Schedules approved: 118, FRBank of Kansas City: Schedules approved: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 240 Pages 1/10 1/24 2/7 2/14 2/28 3/14 3/28 4/11 4/25 5/9 5/23 6/6 6/13 6/27 7/11 7/25 8/ 8 8/22 9/ 5 32 106 181 209 317 402 474 548 636 696 779 857 907 989 1039 1101 1152 1210 9/12 9/26 10/10 1250 1272 1327 1h18 10/24 11/ 7 11/14 11/28 12/12 12/26 1477 1533 1554 1676 1742 1830 1/3 1/10 1/24 2/7 2/14 2/28 3/14 3/28 4/11 4/25 5/2 5/ 9 5/23 6/6 6/20 6/27 7/ 3 7/18 8/ 1 8/15 6 32 106 181 209 317 402 473 547 636 673 696 779 857 952 989 1022 1066 1126 11814 241 Pages 4tes, FRBank of Kansas City: (Continued) Schedules approved: (Continued) 8/29 9/12 9/26 10/10 10/24 11/ 7 11/14 11/28 12/12 12/19 1236 1272 1327 1418 1477 1533 1554 1676 1742 1792 Rates FRBank of Minneapolis: Schedules approved: 1/10 32 1/24 106 2/7 2/14 181 209 2/28 317 3/14 3/28 4/11 4/25 5/9 5/23 6/6 6/13 6/27 7/11 7/25 8/ 8 8/15 8/29 9/12 9/26 10/10 10/24 11/ 7 11/14 402 473 547 636 696 779 857 907 989 1039 1101 1152 1184 1236 1272 1327 1418 1477 1533 11/28 12/12 te if!'liBank of New York: ' cePtances, bankers, increase in buying rates and sales contract rate, discussion of minimum rate and letter to Mr. Rouse re Increase in buying rates, minimum buying rate to be increased accordingly Increases in buying rates, minimum rate to be raised accordingly, advice to Mr. Sproul http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1554 1676 12/26 1742 1830 12/ 5 1690 12/23 1823 12/23 1823 242 Pages 4415 aBank of New York: (Continued) Acceptances: (Continued) Minimum buying, advice that increase is not contemplated, to be advised that it should not be below discount rate in effect 12/ 5 Minimum buying, to be raised at time of increases in buying rates for acceptances, advice to Mr. Sproul 12/23 Tradel buying rate fixed at 1-1/2 per cent 12/ 5 schedules approved: 1/ 3 1/10 1/17 1/24 2/7 2/14 2/21 2/28 3/7 3/14 3/21 4/ 4 4/18 5/2 5/ 9 5/16 1823 1691 6 32 72 106 181 209 235 317 340 402 442 517 6o4 673 696 735 5/23 6/6 6/13 6/20 7/11 7/18 8/1 8/15 8/29 779 857 907 952 1039 1066 1126 1184 1236 9/ 5 9/12 9/19 9/26 10/ 3 10/10 10/17 1031 11/ 7 11/14 11/21 12/12 12/19 1250 1272 1287 1327 1362 1418 1439 1511 1533 1554 1605 1742 1792 404, "-Lon 13b loans, elimination of maximum commitment rate of one-fourth per cent or flat fee not to exceed $50 approved 12/ 5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1691 1689 ZLZI 91 INT1 z5IT WIT 6COT 696 Lo6 L59 6LL 969 90 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis zi/6 6/9 51/9 9 /9 5z/L IT/L Lz/9 CT/9 9 /9 Cz/5 6 /2/11 05 CL1 zoti LTC 60Z *Z3.1 901 ZC z6LT 9991 5091 ce5T Lot 6 111 z91 Len 0531 OTZT Z5TI 1011 9901 ZZOT Z56 L59 6LL 5EL CL9 tio9 LT5 zn1 one 5Cz 191 901 9 ez/3 twz L /z tiz/T (NT 61/Z1 5 /ZT Tz/TT L /T1 tizjoT LT/OT /oi 61/6 5 /6 zz/9 9 /9 5z/L 9T/L C /L oz/9 9 /9 Cz/5 9T/5 Is gTin 1A L /C Tz/z L /z tiztr LitE C sava CtiZ 244 Pages Rates, FRBank of Richmond: (Continued) Schedules approved: (Continued) Rates, FRBank of San Francisco: Schedules approved: 9/26 10/10 10/24 11/ 7 11/14 11/28 12/12 12/26 1327 1418 1477 1533 1554 1676 1742 1830 1/3 1/10 1/17 1/24 1/31 2/7 2/14 2/21 2/28 3/7 3/14 3/21 3/28 14/14 4/11 4/18 5/2 5/ 9 5/16 5/23 5/29 6/6 6/20 6/27 7/ 3 6 32 72 106 153 181 209 235 317 340 402 442 474 517 548 604 7/11 7/18 7/25 8/ 1 8/ 8 8/15 8/22 8/29 9/ 5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 673 696 735 779 813 857 952 989 1022 1039 1067 1101 1126 1152 1184 1210 1236 9/12 9/19 9/26 1250 1272 1287 1327 10/ 3 1362 245 Pages 44e8,D rliaank of San Francisco: (Continued) Schedules approved: (Cont inued) Rates, FRBank of St. Louis: S chedules approved: 10/10 10/17 10/24 1031 11/ 7 11/14 11/21 12/ 5 12/12 12/19 12/26 1418 1439 1477 1511 1533 1554 1605 1688 1740 1792 1830 1/3 1/10 6 32 1/17 72 1/24 1/31 2/7 2/14 2/21 2/28 3/7 3/14 3/21 3/28 1o6 153 181 209 235 317 340 402 442 473 14/14 517 4/11 4/25 5/9 5/16 5/29 6/6 6/13 6/27 7/11 7/18 547 636 8/ 1 8/ 8 8/15 8/22 8/29 9/ 5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 696 735 813 857 907 989 1039 lo66 1126 1152 1184 1210 1236 9/12 9/19 9/26 1250 1272 1287 1327 10/ 3 10/10 10/24 1031 1362 1418 1477 1511 246 Rates, FRBank of St. Louis: (Continued) Schedules approved: (Continued) Pages 11/ 7 1533 11/14 11/21 11/28 12/ 5 1554 1605 1676 12/12 12/19 12/26 Rates, FRBanks: Ac coptances, bankers: Minimum buying rate, not to be below rate of discount for discounts of and advances to member 12/ 5 banks, advice to Mr. Sproul Minimum buying rates on acceptances, to be increased at time of increase in buying rates at FRBank 12/23 of New York Discount, increase proposed, discussion and statement by Chairman Eccles, action to be taken before end of year to advance, to be discussed at 12/ 5 Presidents Conference Increase, action to be deferred until January, advice 12/17 to FRBanks F°rtnightly establishment of, Presidents to be advised of 2/27 Board's position at joint meeting Amendment to FRAct recommended, no action to be taken at present, discussion at Presidents 2/28 Conference Go vernment securities, actions as means of credit control, 2/28 discussed at meeting with Presidents Inflation, Chairman Eccles to make statement re wartime policy of low rates in appearance before 12/15 Committee Senate Int erest, suggestion of Mr. McCabe to increase to check in5/28 nation, reply to letter re Interest on FRnotes to be paid Treasury to absorb excess earnings of FRBanks, Mr. Eccles to discuss 2/ 4 with Treasury Chairman of Action not to be taken until after meeting Eccles with Treasury, press statement to be sent to Mr. Sproul for suggestions, verifications of computations to be obtained from FRBanks re payments to be made to 4/11 Treasury 4/23 Establishment approved, advice to FRBanks Press statement re to be sent to member banks if desired, 4/24 advice to FRBanks telegram to FRBanks re, to FRBanks Letter from Mr. Spahr suggesting that reply state approval of 7/22 matter rested with Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1688 1742 1792 1830 1691 1823 1689 1781 269 285 284 1762 809 168 558 618 633 1089 247 Pages FRBanks: Interest rate on FRnotes to be paid by FRBanks: (Continued) Confidentiality of discussions between Board and Presidents stated in reply to inquiry from Mr. 7/23 Spahr, advice to FRBanks June 30, ending period three months Establishment for 7/30 advice to FRBanks Establishment of interest rate for three months period ending September 30, 1947, advice to FRBanks10/27 Treasury bills, termination of fixed buying rate and repurchase option on, to be discussed at FAC 4/16 meeting with Board Tr easurY certificates, no change in discount rate to be made until increase in level of 7/8 per cent, matter to be considered at Presideats Con7/18 ference Termination of program, letter from Mr. Rice re and instruc7/11 R. sent to FRBanks McCarthy Motor Company, St. Louis, Mo.: Re gulation W enforcement, visits made re violations, action to be deferred until clarification of future 7/ 3 status of Regulation kw), s Milton T., Regulation W, opposition to appraisal guide provision, reply to letter 4/ 7 s•L estate: Idortgage situation, discussion in connection with credit control, FAC in agreement with Board as to dangers resulting from Veterans Administration and Federal Housing Administration 11/18 pressures, statement to be prepared 11°Itgage8, sale by State member banks, applicability of condition of membership No. 3, advice to 5/13 FRBank of Chicago SurveY of urban real estate mortgage loans by National Bureau of Economic Research, assistance by FRSystem Re 7/ 2 approved e°48-tr c_ uction Finance Corporation: ustodian Bulletin No. 1185 re expense vouchers, instructions to FRBanks for audit of vouchers by RFC 6/18 representatives Cus.‘ . tiodian Bulletin No. 1192 re "Revision of Procedures", motivated by economy objectives and not reflection on services by FRBanks, advice 7/ 9 to FRBanks 841ninati0n5 of RFC-Custody Divisions of FRBanks and branches, regular examinations to be discontinued, 9/ 9 no objection 4ten3ion of powers, discussion in connection with industrial loan bill (S. )408) and opposition of FAC 9/23 to http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1096 1115 1485 590 1066 1053 1023 525 1578 721 1020 939 1031i 1263 1313 248 Pages Reco netruction Finance Corporation: (Continued) Legislation, bill to extend, request for testimony by 5/23 Chairman Eccles at hearings declined Lending activities, objection of FAC to, statement to be 11/18 revised Loan Advisory Federal with powers discussed at meeting Council in considering S. 498 on in3/11 dustrial loans Retirement of preferred capital stock by banks, FRBanks 3/17 requested to cooperate in Program to be developed at FRBank of Dallas, acknowledg4/111 ment of letter re Acknowledgment of letter re program for FRBank of New 5/29 York S• 2173 to continue authority for credit to small businesses, no report to be made by Board, Comptroller 3/1] or Treasury re S. 08, guarantees of business loans by FRBanks, letter from 4/25 Mr. John D. Goodloe read into record Ree ords: R 11/12 Regulation Ar, preservation suggested in case of reissue edds oounts: Bankers Trust Company of New York City, eligibility for rediscount by FRBank of notes of Central Bank for Cooperatives, permission of Board 3/28 not required Central Bank for Cooperatives, eligibility of notes for rediscount by FRBank, permission of Board not required, reply to inquiry from Bankers 3/28 Trust Company of New York City Senator Clyde M., reserve city designation proposal published by Board, reply to request for in12/ 5 formation re °) Edward exregulation of consumer credit, advice re piration date of Regulation, expenditure for activity and number of personnel 10/29 engaged in atiens Board of Governors: D: 789 1579 370 415 570 826 383 640 1547 489 489 1700 H., 4/28 Amendments proposed, views of Presidents requested of Messrs. memo in Amendments to, alternative suggestions Szymczak and Clayton, action to be deferred during consideration of holding company bill and while Lakewood Village case pend7/11 ing in courts cities reserve of Amendment and formula for designation suggested in memo of Messrs. Smead, Vest, and Townsend, not desirable at present, draft of letter to Presidents and FAC to be prepared as agreed upon at meeting of July 7/18 11 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1492 650 1046 1073 249 Pages Relno tu-Lations, Board of Governors: (Continued) F: First National Bank and Trust Company, Bridgeport, Conn., investment of certain funds in participations in common trust fund operated by, contrary to provisions of 8/8 Loans to trustors of revocable living trusts, reply to inquiry from First National Trust and Savings Bank of San Diego, Calif., re appli6/19 cability of Old Colony Trust Company, Boston, Mass., application of section 17(c)(5) to three trusts under a will 3/10 Section 9(b), collateral to secure uninvested trust funds, amendment not possible, discussion' at 2/28 Presidents Conference Trust funds, proposed amendments re investment, action to be deferred until conclusion of litigation re, advice to FRBanks 4/ 7 Trust investment committee under, name immaterial, reply to inquiry from Barnett National Bank, Jacksonville, Flordia 10/24 Membership conditions, proposed changes and amendments to Regulation F re investment of trust funds, action to be deferred until conclusion of litigation re, advice to FRBanks 4/ 7 Section 6(b), amendment re collateral to secure uninvested trust funds, to be considered further, 2/28 discussion at Presidents Conference Delayed return of unpaid items, progress report at Presidents Conference re, amendment to Regulation 12/ 9 expected, no action at present Lea ye, amendments to conform with regulations of Federal 8/15 Government approved Section 20, amendment approved, accumulated annual leave 8/15 not to exceed 60 days Q: 1157 945 365 290 525 1480 525 290 1717 1185 1187 Absorption of costs of shipments of currency by United Bank and Trust Company of St. Louis, shipments to correspondent banks, advice to FRBank of St. Louis re 1/30 150 Advice to FRBank of St. Louis re procedure to be followed in advising member banks concerning practice 2/12 204 Absorption of exchange charges by insured nonmember banks, digest of information reported by FRBanks of Richmond, Atlanta, and St. Louis, memo to be prepared re and Mr. Clayton to confer with Under Secretary of the Treasury Wiggins 7/11 1048 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Regulations, Board of Governors: (Continued) Q: (Continued) Funds received by member bank pursuant to railroad equipment trust agreement, classification as time deposit under, reply to inquiry from FRBank of Richmond Reimbursement of member banks for transportation costs on items sent direct to other FRBanks and branches, discussion of relationship to Retirement System, amendments to change benefits proposed by trustees, not approved by Board T: 250 Pages 10/ 7 1375 9/23 1299 7/18 1070 Administration and enforcement of, Presidents to be advised of Board's position at joint meeting 2/27 Liberalization re substitution of securities in undermargined accounts, discussion at Presidents Conference, matter to be considered 2/28 further Amendment to supplement to reduce margin requirements to 75% approved 1/17 Amendment to section 4(c) to extend time for settlement for bona fide cash transaction in special cash account recommended by National Association of Securities Dealers, Inc., copies of correspondence and draft of amendment sent to FRBanks for consideration 12/ 4 Recommendation of Mr. Fulton and tentative draft 12/18 sent to Mr. Treanor, SEC Cash transactions, requirements re, reply to letter of Mr. J. X. Chappell 2/ 4 Chicago Stock Exchange, plan for improving markets on, 7/18 consistent with Detroit Edison Employees Credit Union, applicability to credit for purchase of stock of Detroit 4/ 1 Edison Company, advice to Mr. Allman Joint account for trading in securities, applicability 6/23 of, advice to FRBank of San Franesco Margin accounts, reply to inquiry from Mr. Charles R. 1/23 Cooper sent to Congressman Gearhart Application to switching of securities in frozen, re5/28 ply to inquiry from Dr. Amos R. Shirley Margin requirements, reply to letter from Mr. Henry re I/ 7 Reduction in, discussion, draft of statement to be considered at meeting on January 170 Chairman Eccles to advise White House and Treasury of contemplated reduction, SEC to be advised 1/14 of action to be taken Supplement, statement to be published in February 1/23 issue of FRBulletin 2/10 Reply to letter from Mr. James F. Burns, Jr., re Brokers, question of being more than requirements under Regulation U for banks, views re2/11 quested from FAC before next meeting http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 269 293 77 1686 1790 173 1079 495 970 102 8014 15 54 103 192 202 251 NMIma__ons, ti Board Pages of Governors: (Continued) 1: (Continued) Margin requirements: (Continued) Differential in, discussion at FAC meeting with 3/11 Board, FAC opposed to Otis & Co. of Cleveland, Ohio, determined to be subject 1/20 to, advice to SEC Paul H. Davis 8c Co., partnership agreement with Mr. 6/ 4 Franklin B. Evans, applicability of Section 4(f)(6), deposit of securities for protection of broker in Special Miscellaneous Account under, reply to inquiry from Paine, Webber, 2/26 Jackson 8c. Curtis Section 6(h), applicability to borrowing of securities if lender is private individual, reply to 7/11 inquiry from FRBank of New York Stock Clearing Corporation of Boston, question of loans, 6/ 2 applicability of Withdrawal of cash from margin account on sale of securities to pay income tax, not permitted by, advice 1/ 7 to Mr. Watson S. Dudley l Travel, as amended. 3/20 As amended further, approval of Personnel Committee not to be required for automobile travel by employees in Divisions of Examinations, Bank Operations, and Personnel Administration 4/30 To be amended to increase per diem for employees after approval of letter to FRBanks re travel 9/26 expenses Increase in per diem allowance referred to Personnel 10/17 Committee for recommendation Per diem allowance for employees increased to $8.00 and changes made to include items in Government 10/31 regulations Amendments approved, vouchers to be supported by receipts, sentence re sharing of expense for shared accommodations to be deleted, and air tray11/ 7 el approved Administration and enforcement of, Presidents to be advised of Board's position at joint 2/27 meeting Liberalization re substitution of securities in undermargined accounts, discussion at Presidents Conference, matter to be considered 2/28 further Amendment to supplement to reduce margin requirements to 1/17 75% approved American Business Shares, Inc., loan to purchase or carry stock of, not subject to provisions 4/10 of http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 375 89 847 265 1051 831 15 429 665 1328 1442 1504 1537 269 293 77 5143 252 Pages t.• Regula_ilns, Board of Governors: (Continued) U: (Continued) Detroit Edison Employees Credit Union, applicability to credit for purchase of stock of Detroit Edison Company, advice to Mr. 4/ 1 Allman Margin requirements, reduction in, discussion, draft of statement to be considered at meeting on January 17, Chairman Eccles to advise White House and Treasury of contemplated reduction, SEC to be advised of action to 1/14 be taken Supplement, statement to be published in February 1/23 issue of FRBulletin requirements Banks, question of being lower than under Regulation T for brokers, views 2/11 requested from FAC before next meeting meeting with at FAC discussion Differential in, 3/11 Board, FAC opposed to National Shawmut Bank, Boston, Mass., loans to beneficiaries for purchase of stock of tryst, 4/24 applicability to Sears, Roebuck and Co., proposed loan to employees to purchase stock of, applicability, reply 4/18 to Mr. Willard G. Barker Stock Clearing Corporation of Boston, question of loans, 6/ 2 applicability of V, War Loans: Information from FRBank of Cleveland re experience under 1/20 "Regulation V Program", history of V-loan and T-loan programs prepared by Mr. Hackley, copies sent 9/ 4 to FRBanks on confidential basis Study re, no objection to publication, advice to FRBank 4/11 of Richmond Consumer Credit: Abandonment of, reply to letter from Mr. T. Schlesinger 5/13 Abolition of, reply to letters of Messrs. 0/Leary and 1/13 Mackay sent to CongressannLatham discussed with Advertising, misleading aspects to be 1/13 Industrial Bank of Commerce of New York financing on Amendment to provide maturity of 24 months of new passenger automobiles, reply to sug1/ 7 gestion of Mr. Rex P. Teeters advertisements Corporation, American Installment Credit misleading and improperly ascribed to FR 4/ 2 Bulletin, letter re sent to Anglo California National Bank of San Francisco, reply to inquiry re acceptance of trade-in for 6/ 2 automobile http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 495 54 103 202 375 631 608 831 91 1247 567 722 48 47 19 500 832 253 Pages Regillations, Board of Governors: (Continued) 43 Consumer Credit: (Continued) Appraisal guides: Kelley Blue Book, request for copies and notice 1/22 re type of advertisement to be used Value of used automobiles, reply to inquiry from 2/ 4 FRBank of Cleveland Provision, reply to letter from Mr. Raynor expressing 4/ 7 opposition to Applicability to 1947 models of automobiles, advice 4/25 to FRBanks 5/20 FRBulletin Statement to be published in Authority of Board, advice to Congressman Rees re expiration date, expenditure for activity and 10/29 . number of personnel engaged in Automobile license taxes and fees, statement to be pub2/27 lished in March issue of FRBulletin Automobiles: Sale of new by used car dealers, reply to inquiry 1/ 7 from FRBank of Minneapolis Credit for purchase,of used, reply to protest of 1/13 Centre Motor Company, Inc., Norfolk, Va. Taxes and fees as prerequisite for license plates, to be added to appraisal guide value, advice 1/28 to FRBank of Chicago Limit on price of new cars to determine maximum credit values reply to suggestion from Auto2/13 mobile Banking Corporation, Philadelphia 2/3 selling price permissible for loan on 1947 used car if no average retail value quoted in guide books, advice to FRBank of Cleveland 2/21 Applicability of appraisal guides to 1947 models, 4/25 advice to FRBanks Amendment suggested to liberalize maturity require4/25 ment for, reply to Mr. A. E. Barit Barit, A. E., reply to letter stating objections con5/28 cerning low income people Chartbook on consumer credit statistics, publication, 4/24 price, and distribution approved Conferences, disciplinary, tabulation of letters of commendation not to be made, advice to FRBanks 1/ 7 Constitutionality of Executive Order during peace, reply to letter from Mr. M. J. Bachrach sent to 4/30 Congressman Hess from list, articles Continuation of and removal of certain reply to letter from Mr. R. Stafford Edwards]] 9 2/25 from Mr. A. G. Koontz in favor of letter Reply to 2/11 meeting requested next before Views of FAC Conference, Presidents re, at discussion Legislation statement of Chairman Eccles re conversation 2/28 with Congressman Wolcott http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 99 174 525 639 748 1492 272 19 50 139 207 244 639 639 807 634 17 663 30 261 202 286 254 Pages Regu . lations, Board of Governors: (Continued) Iff Consumer Credit: (Continued) removal of certain articles: (Continued) and of Continuation 3/11 FAC opposed to, discussion at meeting with Board Reply to Congressman Hagen re inquiry concerning 4/ 4 lifting of restrictions on and H. R. 2542 Draft of proposed bill prepared by Mr. Solomon and statement re by Mr. Parry, to be studied 4/11 by Board Recommendation of Council of Economic Advisers to 4/11 President, discussion by Chairman Eccles 4/16 Reply to letter of Mr. Edgar T. Higgins 5/ 9 Reply to letter from Mr. M. O. Anderson, NADA Reply to letter from Mr. C. B. Currey stating objections re doctor and hospital bills, sent to 5/23 Congressman Springer Status of legislation, Chairman Eccles to bring matter to attention of President to decide 7/11 whether to revoke Executive Order Extension until November 1, letter to Mr. Clark Clifford recommending signing of Joint Resolution by President and enclosing sug7/28 gested statement for issue Authorization to continue, statement to be published 8/11 in August issue of FRBulletin Until November 1, 1947, all Registrants to be advised by FRBanks, suggested circular sent to 8/ 8 FRBanks letter Wartime or emergency legislation desirable, 12/12 to Attorney General Clark in published be to Conviction for violating, statement 4/22 May issue of FRBulletin rearticles Electrical products, removal from listed quested by National Electrical Manufac1/ 9 turers Association to reply industry, automobile of good for Elimination letter from Greater Chicago Used Car Dealers 1/30 Association Enforcement methods, letters commending not to be counted 1/ 7 by FRBanks Enforcement reports, summary sent to FRBanks: 1/20 December February, increase in proportion of violators to investigations and problems in automobile 3/24 field noted April August 10/29 September 11/21 October Evaporative air coolers without refrigerating unit not 5/ 9 classed as air conditioners 42 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 378 52o 548 549 595 699 805 1050 1105 1165 1159 1744 617 30 149 17 91 451 13337 5 1493 1628 698 Reg 255 Pages ations, Board of Governors: (Continued) W, Consumer Credit: (Continued) 5/ 2 Frozen food cabinets, applicability of Grand Rapids Used Car Dealers Association, reply to 1/27 telegram re sent to Senator Ferguson Instalment credit by banks, extension of and question of nonrecourse paper, publication of article in FRBulletin suggested by Mr. Wegner, con10/ 8 sidered inappropriate for Board Kitchen cabinets, not to be considered as furniture, 2/ 3 ruling to be published in FRBulletin 2/27 Statement to be published in FRBlilletin Legislation, desire of Chairman Eccles to testify on, letter to Chairmen of Banking and Currency Committees transmitting proposed bill and letter for signature of the President re to 5/23 be submitted to Board Draft of bill to authorize regulation by Board and draft of letter for signature of President discussed, drafts to be revised and alternative draft of bill proposing broader authority to be prepared, matter to be dis5/29 cussed further Original bill to be sent to Chairmen of Banking and Currency Committees with brief letter of transmittal and explanatory statement, Chairman Eccles to testify at hearings, and letter for signature of President ap6/ 4 proved Chairmen to Draft of bill to continue regulation sent of Banking and Currency Committees of 6/ 5 Congress statebill, on hearings at Chairman Eccles to testify ment at Presidents Conference re status and 6/ 6 letter received from the President Letter to President re importance of action at pres6/10 ent session of Congress 6/17 Report by Chairman Eccles on status Authorization for one-year suggested by Board as compromise, Chairman Eccles authorized to inform Senator Buck that Board has no further 7/ 2 suggestions President not to take action re Executive Order until action of Congress determined, statement of 7/18 Chairman Eccles Objections to, reply to letters from constituents of 7/24 Senator Myers Presidents to be advised of Board's position at joint 2/27 meeting http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 676 134 ili09 158 272 789 821 84o 853 879 900 932 1006 1065 1099 269 256 Pages Re lir Board of Governors: (Continued) Consumer Credit: (Continued) Radio equipment, receivers without transmitters for receiving broadcasts as well as for communication purposes not excluded from 8/ 8 Group B-8, advice to FRBank of New York Kansas of FRBank to advice of, Records, preservation 11/12 City Knight A. S. Mr. from letter Relaxation of, reply to 1/21 sent to Congressman Thomas Removal or amendment of, reply to further correspondence 5/15 from Mr. Kelly Repeal of, reply to suggestion of Mr. Manfred R. Marini 2/14 sent to Senator Myers Restoration of authority to be recommended to White House by Chairman Eccles to control expansion of 11/ 5 credit by banks Statement of Chairman Eccles at FAC meeting re sup11/18 port for Sears Roebuck & Co., Durham, N. C., advertisement re vacuum cleaners in violation of, matter referred to FRBank of Richmond, advice to 10/ 8 Mr. Kelly S. J. Res. 123, to terminate war time legislation, question of exemption from, advice re6/10 quested in letter to Attorney General S. J. Res. 148, to authorize temporary continuation of, copy of statement for issuance by President after signing sent to Bureau of the Budget 7/28 S. J. Res. 157, passage in Senate, procedure to be followed if also passed by House outlined by Mr. Parry, discussion of increase in credit limit and broadening of list of articles, 12/19 further study to be made of views of, Sets and groups of articles, determination 1/ 7 FRBank of Chicago requested from letter to reply Interpretation of section 6(h), 2/ 3 Mr. Dillard at FRBank of Chicago 3 2/ FRBanks to letter of, Requisites for determination 2/27 FRBulletin in Statement to be published Statement re consumer instalment credit to be issued by Board, in connection with program to combat 10/17 inflation be to discontinuance) (re Statement to all Registrants sent to FRBanks before November 1, advice 10/20 to FRBanks of press text discontinuance, re issued be to Statement 10/24 statement sent to FRBanks re Olson Magnus to Mrs. letter from reply of, Support 5/26 sent to Congressman Judd http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1159 1547 95 733 212 1524 1590 1409 900 1106 1799 17 156 157 272 1440 1454 1482 799 257 Pages >111ations, Board of Governors: (Continued) W, Consumer Credit: (Continued) of American Instalment advertisement in Statistics Credit Corporation, investigation to be made re, reply to letter from Mr. A. E. Duncan 3/214 Status of rulings made prior to revision of December 1, 191461 statement to be published in FRBulle 2/27 tin J. Congressmen Hardin from inquiry to Status of, reply 3/20 Peterson reply articles, listed as classification sets, Television 6/16 to inquiry from RCA Termination, statement to be issued, Mr. Thurston to 10/21 prepare draft 1/13 Terms, reply to letter from Congressman Philbin Vacuum cleaners, reply to letter from National Affairs Committee, Vacuum Cleaner Manufacturers Association re removal of restrictions on 1/15 credit Elimination from list, reply to letter from Mr. 2/26 Thomas F. Kelly Reply to Mr. Schlesinger on request for elimination 5/13 from provisions of Veterans loans on automobiles, relaxation of terms for, reply to suggestion from Mr. Burton, City 3/11 Bank, Washington, D. C. Veterans mortgage loans, abuse in field of, discussion 3/11 at meeting of FAC with Board Violations: Consumers Home Equipment Company and A. B. Chereton, report of Mr. Townsend on appeal in Cincin4/ 8 nati adoption to Farm Credit Administration, no objection of modified procedure for checking compli4/ 4 ance investigation recent Louisiana Furniture Company, 10/16 under consideration visits Mo., Louis, St. Company, Ray McCarthy Motor made re, action to be deferred until clari7/ 3 fication of future status of Regulation by reported those on Reply to Yr. Thomas F. Kelley 5/15 him Wire recorders, not included under "phonographs", but not exempt if incorporated in radio receiving 4/29 sets or combinations lations with dealers in securities: Agnew and Fayeraeather v. Board, suit regarding removal of bank directors, statement to be published 1/ 7 in January issue of FRBulletin http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1451 272 440 926 1549 49 65 266 723 393 381 530 521 1437 1023 734 658 21 258 Pages ons with dealers in securities: Babbage, John D., ineligible to serve on board of directors, of Bank of Lancaster, Kilmarnock, Va., and as employee of W. H. Bell & Co., Inc., Washington, D. C. 1/15 Barnhardt, William H., service as director of Commercial National Bank of Charlotte and as director of R. S. Dickson & Company, Inc., prohibited by Section 32 of Banking Act of 1933 5/12 Chase, John P., service as director of Second National Bank of Boston and as trustee of investment trust, not in violation of section 32 of Banking Act of 1933 11/17 Fuller, Samuel L., service as director of Commercial National Bank and Trust Company of New York and as partner in firm of Merrill Lynch, Pierce, Fenner & Beane, question of conformity with section 32 of Banking Act of 1933, matter to be reviewed further 7/18 Service prohibited by Section 32 of Banking Act of 1933 9/30 ureer, H. Lyman, service as Vice-President of Fifth Third Union Trust Company, Cincinnati, Ohio, and as director of Haydock Fund, Inc., in violation of section 32 of Banking Act of 1933 10/24 Lovet,1 T, W. R e, service as director of Atlantic National Bank of Jacksonville, Florida, and as partner in firm of Merrill Lynch, Pierce, Fenner 8c Beane, prohibited by Section 32 of Banking Act of 1933 9/30 Merrill Lynch, Pierce, Fenner & Beane, applicability of section 32 of Banking Act of 1933 in connection with service of Mr. Fuller as director of Commercial National Bank and Trust Company of New York and as partner in firm of, matter to be reviewed further 7/18 Applicability of Section 32 of Banking Act of 1933 in connection with service of Messrs. Fuller and Lovett 9/30 1111yeen, John, Jr., partner in John Nuveen & Co., service as officer or director of national bank prohibited by Section 32 of Banking Act of 1933 4/16 Prentice, Bernon S., service as special partner of Dominick & Dominick and as director of Fulton Trust Company of New York, applicability of section 32 of Banking Act of 1933, Board to review matter 7/18 Presidents to be advised of Board's position at joint meeting with Board 2/27 section 32 of Banking Act of 1933, discussion of suggested change at Presidents Conference 2/28 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 64 703 1538 1080 1350 1480 1352 1080 1350 594 1080 269 290 259 Pages lielations with dealers in securities: (Continued) Section 32 of Banking Act of 1933: (Continued) Applicability to special partner of firm in underwriting business and to sister of individual, reply to inquiry from Mr. E. N. Moise 9/30 Special partner in firm or sister of individual, reply to Mr. E. W. Moise on applicability of Sec. 9/30 32 Re mington Rand Company: Courses in use of mechanical equipment, Messrs. Thompson, Conkling, and Kelleher selected as Board representatives to take, advice to FRBank 8/12 of Chicago Reor ganization of bank supervisory agencies, work of GAO and Bureau of the Budget duplication, opinion of Chairman Eccles, discussion in connec2/21 tion with Mr. Newman's visit RePorts: Analysis of credit control proposals, report accepted by Board, further study desirable, discussion by Chairman Eccles at Presidents Conference 2/28 ...ang conditions in districts, quarterly summary to be sent 1/27 to Board, letter to FRBanks anlcLng conditions, Presidents to be advised of Board's posi2/27 tion at joint meeting Discussion at Presidents Conference of material to be 2/28 used and purpose of Comments requested by FRBanks on certain points in next 4/28 report r Reply to letter from Mr. Gidney re 4/28 'arnings and dividends, FR 107b2 forms and instructions 6/ 9 sent to FRBanks for semiannual report Earnings for first half of 1947, amounts of certain items 9/10 requested from FRBanks vloyees of Board, statement re sent to Senator Aiken 3/ 7 nInctional expense, revised manual of instructions, to be effective July 1, 1947, instead of April 1 3/14 Revised manual of instructions for preparation, instruc4/10 tions re, copies to be sent to FRBanks FR 634, revised form, FR 96 and FR 34 to agree with, in6/19 structions to FRBanks Changes in dates for submission and instructions to be recommended by Presidents to alleviate difficulties, discussion at Presidents Con10/ 7 ference FR 634, submission quarterly rather than monthly, recommendation of Presidents Conference to be 12/ 9 approved Loans, industrial, semiannual list of loans and commitments 10/10 outstanding, to be discontinued http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1352 1353 1168 243 283 128 269 304 649 651 894 1267 351 406 544 946 1400 1718 1425 260 Pages Reports: (Continued) Outside business and teaching activities of employees of Board's staff in Group M and above, proce11/24 dure and form approved FRBanks for: to Regulationli Enforcement, summary sent 1/20 December violators to investiproportion of increase in February, gations and problems in automobile field noted 3/24 5/28 9/26 10/29 11/21 April August September October Statistical, regular and special, discussion at ?residents Conference, number to be reduced as much as 6/6 possible Overburdening of banks and business concerns with requests for, discussion at meeting with Presidents 10/7 Re Surplus property, Board has none to report, advice to WAA 3/7 P°rts on bills: Administrative Practitioners Act, participation in proceedings of Federal agency, bill not needed in connection with operations of Board, advice to Senator Wiley, Chairman, Committee on the Judiciary 4/3 H. R. 1, tax reduction bill, letter of disapproval sent to 6/9 President, advice to Bureau of the Budget H. R. 2315, concerning common-trust funds and to make uniform law re, Board in favor of bill with suggested 4/11 amendments, advice to Congressman Dirksen H. R. 2413, to amend FRAct and for other purposes, Board in favor of bill as passed by Congress, advice 4/24 to Bureau of the Budget H. R. 4488, a bill to amend Servicemen's Readjustment Act of 1944, Board not in favor of enactment, ad12/17 vice to Hon. Rogers S. 104, bill to amend Clayton Act, report sent to Senator Wiriahoney S. 408, Board in favor of, letter to Senator Tobey stating /:: 4 2/ views Guarantees of business loans by FRBanks, letter submitted by Board to be incorporated in hearings sent to Senator Tobey after letter from Mr. John 4/25 D. Goodloe read into record Letter to Senator Tobey concerning comments of Mr. William C. Foster, Acting Secretary of Commerce 4/25 S. 414, government system of export credit insurance, Board not in favor of enactment, report to Senator Tobey 4/2 S. 548, to increase FDIC insurance from $5,000 to $15,000, request from Clerk of Senate Banking and Currency Committee for, to be filed without 2/21 reply http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1632 91 451 807 1335 1493 1628 883 1401 353 510 895 568 633 1786 596 247 640 61414 499 2)414 Re )orts 261 Pages on bills: (Continued) S. 828, to extend authority of FRBanks to purchase Government securities directly from Treasury, report in favor sent to Chairman of Senate Banking and Currency Committee 3/24 452 S. 829, to provide for control and regulation of bank holding companies, and for other purposes, report to Chairman of Senate Banking and Currency Committee 601 4/17 S• 1070, to cancel capital stock of FDIC and to repay Treasury and FRBanks for amounts received on account of subscriptions, Board in favor of bill with certain changes, advice to Senator Tobey 4/18 609 To provide for cancellation of capital stock of FDIC, etc., report in favor of President's signing sent to Bureau of the Budget 7/30 1116 S. 1176, to extend lending power of Federal savings and loan associations, enactment opposed by Board, report to Senator Tobey 6/13 918 8. 1178, to reduce premium rate for insurance by Federal Savings and Loan Insurance Corporation, enactment opposed by Board, report to Senator Tobey 6/13 918 Se 1519, to permit expenditures for FRBranch buildings, up to $10,000,000, Board in favor of, report to Bureau of the Budget 7/25 1102 S. 1720, to amend National Housing Act, no objection to approval of bill by President, advice to Bureau of the Budget 1124 7/31 Se 1740, to establish a Federal Small Business Corporation, Board not in favor of enactment, report sent to Senator Tobey 10/ 1 1356 8. 2800, to amend Home Owners Loan Act of 19330 letter to Bureau of the Budget recommending veto to 7/30 President 1116 ' 7e and central reserve cities: Chattanooga, Tenn., discussion of classification in connection with proposed formula for designation of re9/23 1302 serve cities C. lassIfication of deposits for reserve purposes, System Research Advisory Committee directed to study possible 7/ 2 1005 changes in law Designations, alternative plans discussed, Messrs. Szymczak and Clayton with staff members to continue to study problem and to submit further 7/ 2 100 recommendation4 Alternative bases presented in memo of Messrs. Szymczak and Clayton, one proposal to be submitted to Presidents and Federal Advisory Council 1045 7/11 Amendment to Regulation D and formula suggested ia memo of Messrs. Smead, Vest, and Townsend, not desirable at present, draft of letter to Presidents and FAO to be prepared as agreed upon at meeting of July 11 7/18 1073 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Res 262 Pages and central reserve cities: (Continued) Designations: (Continued) Discussion of plan and period for review, letter to Presidents transmitting plan to be re8/ 7 drafted to incorporate changes discussed disto be FAC, and FRBanks to sent Plan approved, copy cussed at Presidents Conference and FAC 8/13 meeting in September Prochnog Mr. to sent re letter of copy Plan selected for, 8/26 for discussion at FAC and Board by proposed formula of meeting FAC at Discussion reserve requirements, Council opposed to 9/23 formula Formula, change suggested by Chairman Eccles, memo re to be prepared and revised formula to be dis9/26 cussed at Presidents Conference Discussion at Presidents Conference, Presidents opposed to plan to be effective January 1, 1948, in favor of going to Congress before action 10/ 7 re change Discussion of new formula proposed by Chairman Eccles, matter referred to Messrs. Szymczak and 10/17 Clayton for recommendation at next meeting Statement of proposed changes approved for publication 10/21 in Federal Register, advice to FRBanks Hearing to be held at Board before publication of formula, 11/21 advice to FRBanks concerned with changes Proposal published by Board, reply to request of Senator 12/ 5 Clyde M. Reed for information re Hearing at Board's offices, statement by Mr. Clayton 12/17 re results of Mesby prepared Standard to be adopted, statement to be srs. Szymczak and Clayton to incorporate provisions re continuance of designation of reserve cities not included in formula and to reapply standard at end of each three-year 12/17 period from March 10 1948 in published be to approved, Classification Standard for Federal Register and copies to be sent to 12/19 FRBanks pubbe to statement cities, reserve of Classification 12/22 lished in FRBulletin Grand Rapids, Michigan, discontinuance of designation as reserve city, no action to be taken prior to 10/31 January 1, 1948 adoption of formula publish to action before requested hearing Kansas, City, Kansas 11/21 formula re designation of Michigan National Bank of Lansing, Michigan, threatened suit against Board re amendment to Regulation D, matter referred to Messrs. Clayton and Szymczak, Board to submit alternative actions to FRBanks 6/20 and FAC, Mr. Garey, Attorney, to be advised http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11h0 1174 1216 1301 1329 1377 1440 1455 1610 1700 1773 1778 1793 1319 1502 1609 960 263 Pages Reserve and central reserve cities: (Continued) Michigan National Bank of Lansing: (Continued) Suit re amendment to Regulation D, filing to be deferred pending further Board action re designation of reserve cities after next meetings of 7/ 2 Presidents and Federal Advisory Council National City, Illinois, discussion at FAC meeting of classification in connection with proposed formula 9/23 for designation of reserve cities National Stock Yards, Illinois, letter from National Stock Yards National Bank objecting to designation 11/21 of city as reserve city St. Joseph, Missouri, hearing requested before action to pub11/21 lish formula re designation of Spokane, Washington, discussion at FAC meeting of nlassification in connection with proposed formula for 9/23 designation of reserve cities in Toledo, Ohio, discussion at FAC meeting of classification connection with proposed formula for designa9/23 tion of reserve cities at discussed and Letter from Mr. Rohr re designation read 9/26 Board meeting Clearing Termination of designation, resolution of Toledo House Association opposing, to be considered 11/20 by Board, advice to Mr. Rohr Washington, D. C., letter to Mr. Burton on status of cities 3/13 in which there are no FRBanks or branches Res., I've Board Club: Library, contribution of $100 per month by Board approved for 10/ 6 attendant in Re, 1003 1302 1610 1609 1303 1302 1329 1603 399 1372 American National Bank of Jacksonville, Florida, granted permission to maintain same reserves as banks 9/30 1349 outside central reserve and reserve cities Bad debts onloans, to be reported in earnings reports and deducted from loans in condition reports, ad12/26 1835 vice to FRBanks Sanca Nazionale DIAlbania, Rome, Italy: 215 2/14 Gold reserves, Board not to intervene on behalf of Maine, Bar Harbor Banking and Trust Company, Bar Harbor, 1555 11/Th penalty for deficiency waived Beach Haven National Bank and Trust Company, Beach Haven, New 206 2/13 Jersey, penalties for deficiencies waived Bridgeport-City Trust Company, Bridgeport, Conn., penalties 3/21 444 for deficiencies waived for deficiBroadway National Bank of Tampa, Florida, penalty 2/26 183 y14 enc waived be to included Capital requirements for State banks, statement 931 6/17 in annual report for 1946 published be to Classification of reserve cities, statement 1819 12/22 in FRBulletin http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 264 Pages Ileserves: (Continued) ComPutation of member banks', System Research Advisory Committee to recommend changes in law as 12/17 soon as possible Deficiencies, computation for holiday period, advice to 12/23 FRBanks Excess, problem of, no action required in connection with, 2/28 discussion at Presidents Conference Farmers and Merchants State Bank of Rush County, La Crosse, 5/12 Kansas, penalties for deficiencies waived PRBank of Chicago, penalties for deficiencies resulting from 2/ 4 blizzard conditions waived for District PRBank of Minneapolis, penalties for deficiencies, no objection to continuance of procedure re handling on 2/18 current instead of monthly basis . FR 414, computation of reserve to be carried with FRBank by member banks, revised form re termination of exemption of war loan deposits from reserve requirements, copy and instructions sent to 5/16 FRBanks Change made for reporting reciprocal balances of private banks and bankers, copy sent to FRBank of 5/26 New York First National Bank of Handley, Fort Worth, Texas, granted permission to maintain same reserves as banks 12/11 outside central reserve and reserve cities Louisiana National Bank, Baton Rouge, Louisiana, penalties for 8/29 deficiencies waived Manufacturers Bank and Trust Company of St. Louis, Mo., granted permission to maintain same reserves as banks outside of central reserve and reserve cities 2/14 National Bank of Mt. Olive, Illinois, penalty for deficiency 12/19 waived Regulation DI amendments proposed, views of Presidents re4/28 quested Amendments suggested in memo of Messrs. Szymczak and Clayton, action to be deferred during consideration of holding company bill and while Lakewood 7/11 Village case pending in courts cities reserve Amendment and formula for designation of suggested in memo of Messrs. Smead, Vest, and Townsend, not desirable at present, draft of letter to Presidents and FAC to be prepared 7/18 as agreed upon at meeting of July 11 Requirements: Basis for establishing, suggestion for consideration of 10/21 Congress at present, increased Central reserve city banks, not to be view to be expressed at Presidents Conference12/ 5 Increase, Chairman Eccles authorized to make statement opposing in appearance before Senate Committee 12/15 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1778 1826 315 703 175 223 741 797 1739 1239 212 1815 650 1046 1073 1456 1689 1762 Re 265 Pages serves: (Continued) Requirements: (Continued) Member banks in reserve cities where there are no FRBanks or branches, reply to letter from Mr. C. F. Burton 3/13 Reduction in, opposition to suggestion discussed at FAC meeting with Board, no action to be taken 9/23 Special reserve plan for three-year period to control expansion of bank credit, to be recommended to White House by Chairman Eccles 11/ 5 Plan proposed to control expansion of bank credit, discussion of Chairman Eccles' memo and of questions raised by Mr. Szymczak, Chairman Eccles to make statement before joint hearings of Joint Committee on Economic Report and Banking 11/17 and Currency Committees Opposition of FAC to plan expressed in statement at meeting with Board 11/18 Plan suggested by Mr. Eccles in statement before Joint Committee on the Economic Report 11/26 Bill to provide for, draft approved, to be transmitted to 11/26 Chairmen of Banking and Currency Committee Memo of November 25 re not sent to FRBanks, draft of bill 11/26 not to be sent until after introduction nien Trust Company, Greensburg, Indiana, penalties for de11/ 7 ficiencies waived Wachovia Bank and Trust Company, Winston-Salem, North Carolina, request to submit semi-monthly reports of deposits with exception of Charlotte, in lieu of weekly reports, matter to be discussed with 11/26 Mr. Leach War loan deposits, exemption from requirements, no further legislation needed after termination of Act of April 130 1943, advice to Mr. L'Heureux 3/ 3 West Seattle National Bank of Seattle, Washington, granted permission to maintain same reserves as banks 11/ 5 outside central reserve and reserve cities -.,mington Trust Company, Wilmington, Delaware, penalty for 12/ 3 deficiencies waived 484 4.gnation5: I burrow, Mrs. Margaret M., secretary to Mr. Thomas, accepted 4/11 Akers, Mrs. Dorothy H., cafeteria helper, separation from service, without prejudice, approved, reimbursement for overdrawn leave to be obtained 5/20 9/11 Amrin, Joyce, cafeteria helper, accepted 'Very, Clarence W., Class B director of FR2ank of Chicago, tendered in order to accept appointment as Class C director and designation as Chairman 3/ 6 and FRAgent for unexpired portion of term Baird, Frieda, economist, accepted 7/ 9 Bigler Mrs. Sandra, elevator operator, accepted 3/25 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 399 1306 1522 1557 1570 1654 1665 1670 1535 1673 321 1528 1683 564 747 1271 339 1028 462 266 Pages Resignations: (Continued) Blake, Lillian, clerk-stenographer in Division of Research and Statistics, accepted Bocuilis, Adelal clerk in Division of Research and Statistics accepted Boggs, James R., Asst. FRExaminer, accepted Bolac, Mrs. Ethel M., cafeteria helper, accepted Boucher, Mrs. Anna Mae, page, accepted Boyd, Mrs. Kathrine, charwoman, accepted Bramlet, Phyllis, secretary to Mr. Thomas, accepted Brown, Alice C., clerk, accepted Brown, Mrs. Reba S., cafeteria helper, accepted Bunce, Arthur C., economist, accepted C111111101 Allison, operator, duplication devices, accepted Curtis, Mrs. Mary Gwyn, library assistant, accepted David, Donald K., Class C Director at Boston, accepted Davis, Mercedes, clerk-typist in Division of Research and Statistics, accepted Dernburg, Hans J., economic specialist, accepted Deskin, Mrs. Attie L., charwomanlappointment terminated Doebler„ Mrs. Leila M., Clerk in Division of Research and Statistics, accepted Faust, Ralph L., guard, accepted Pauteux, Blanche D., clerk, accepted Frey, Mrs. Ann B., clerk-typist, accepted Garrick, Anna E., clerk-stenographer, accepted Glotfelty, Joseph T., Jr., operating engineer, accepted Glover, Mrs. Hazel M., cafeteria helper, accepted Grady, Henry F., Chairman and FRAgent at FRBank of San Francisco to become Ambassador to India, letter of appreciation for services Green, Anna G., clerk in Division of Research and Statistics, accepted Haltigan, Helen A., file clerk, accepted Harloff, Mrs. Moynelle E., clerk-stenographer, accepted Hart, Richard F., research assistant, accepted Hermberg, Paul, economist, accepted !"lighfield, Carroll R., FRExaminer, accepted Hopkins, Ernest J., Economic Specialist, accepted after discussion at Board meeting Hurst, Donald A., clerk, accepted Irons, David B., Asst. FRExaminer„ accepted Jeffries, Ardith E., file clerk, accepted Jones, Ruth, cafeteria helper, accepted Jordan, Eugene P., operating engineer, accepted Xeefe, Mrs. Josephine B., page, accepted Xekenes, Mary F., clerk-typist in Division of Bank Operations accepted Xelly, Mrs. Dorothea B., file clerk, accepted Lee, Andrew W., Technical Assistant in Division of Bank Operations, accepted http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3/ 7 351 10/ 3 9/17 8/11 10/24 4/22 8/ 5 11/13 8/28 5/28 8/28 8/20 12/31 1368 1278 1163 1478 615 1136 1551 1220 803 1220 1205 1844 4/21 613 4/11 564 9/10 1265 7/30 12/17 9/12 9/ 8 9/29 6/18 2/28 1113 1784 1273 1254 1336 938 318 4/22 615 12/22 7/16 6/17 8/21 10/14 11/25 1817 1060 936 1208 1428 1638 1/27 9/23 9/23 9/10 9/17 117 1317 1317 1264 1279 12/ 9 1727 5/27 800 6/26 985 10/ 6 1372 2/25 260 267 Pages Resignations: (Continued) Loyd, Geraldine, clerk-stenographer, accepted Malone, Charles T., FRExaminer, accepted 12/ 3 1681 4/28 648 5/ 2 McCutchan, Mrs. Marjorie B., file clerk, accepted McGarvey, Margaret M., file clerk, accepted 1/27 McGuire, Mrs. Mary C., cafeteria helper, accepted 1/17 McNally, James Ho, clerk-stenographer in Division of Adminis1/17 trative Services, accepted 1/31 Date change from February 6 to January 31, 1947 Mercer, Esther M., clerk-stenographer in Secretary's Office, accepted 4/14 4/21 Mitchell, Mrs. Madge M., file clerk, accepted Morse, Chandler, Assistant Director of Division of Research 9/ 5 and Statistics, accepted 2/28 MoYe, Audrey L., stenographer, accepted Murphy, Royal J., marble mason, accepted 3/12 Musgrave, Richard A., Chief of Government Finance Section, accepted at expiration of annual leave 9/26 remaining to credit 1/ 3 Nelson, Mrs. Evelyn Underwood, leave clerk, accepted Nikonenko, Mrs. Maria, clerk in Division of Research and 2/ 4 Statistics, accepted O'Connell, Mrs. Catherine E., substitute nurse, accepted 1/ 9 Pagenkopf, Myrtle J., file clerk, accepted 10/10 Painter, Mary S., economist, accepted 4/ 4 Payne, Mrs. Marguerite A., secretary to Mr. Paulger, 3/25 accepted Price, Myrtle C., clerk-typist in Division of Examinations, 7/29 accepted Rice, Violet M., Division of Research and Statistics, ac2/26 cepted upon termination of military leave 10/20 Roberts, Mrs. Mary Jane Po, economist, accepted 8/14 Sadler, Albert J„ general mechanic, accepted Schelling, Nancy, research assistant, accepted 8/14 Schumacher, V. P., Assistant FRExaminer, accepted 3/13 4/21 Simpson, Hazel Lee, file clerk, accepted Stewart, C. M., Secretary at FRBank of St. Louis, accepted, to assume managership of Little Rock Branch 4/18 SwYgert, Rebecca M., Asst. Supervisor of Cafeteria, accepted11/19 3/31 Tavenner, Mrs. Mary, cafeteria helper, accepted Treacy, Norbert C., guard, accepted upon return from military 2/14 leave Wasnetsky, Mary, file clerk, accepted 7/ 2 Wells, Virginia E., clerk-typist in Division of Examinations, accepted 3/ 3 White, Barry M. laborer, accepted 3/ 3 W illiams, Mrs. Rose L., cafeteria helper, accepted 2/20 Wirth, Eleanor, clerk-stenographer, accepted 12/10 Wooten, James P., accounting clerk in Division of Bank 7/29 Operations, accepted Worthen, Mrs. Helen B., stenographer, accepted 4/ 9 Zidek, Louis W., Assistant FRExaminer, accepted 5/12 673 129 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 86 85 153 570 612 1250 318 395 1333 7 173 27 1419 519 461 1109 262 1453 1179 1179 397 612 6o6 1595 492 211 1015 321 321 226 1730 1109 539 702 268 Pages Resolutions: Assessment on FRBanks for expenses of Board: Last half of 1947 6/20 965 First six months of 1948 12/15 1751 Bank holding company legislation, resolution by FAC stating views for use at hearing to be considered at separate meeting of FAC 5/20 772 Forth Worth Clearing House Association, re reimbursement of member banks for postage and other transportation costs, reply to Mr. Smith and advice to FRBank of Dallas 8/19 1196 Public Law No. 263, withdrawal of contributions from Civil Service Retirement System upon separation with less than ten years of service, not applicable to Board of Governors'Plan of Retirement System, resolution adopted re 8/20 1206 Reimbursement of member banks for postage and other transportation costs, resolution of banking and clearing house associations in Dallas District protesting 7/31 1119 S. J. Res. 123, to terminate war time legislation, question of exemption of executive order No. 8843, consumer credit regulation, advice requested from Attorney General 6/10 900 Toledo Clearing House Association, in opposition to termination of designation of Toledo as reserve city, to be considered by Board, advice to Mr. Rohr 11/20 1603 Wichita Falls Clearing House Association, Wichita Falls, Texas, reimbursement by FRBanks to member banks of postage and other transportation costs on cash items, reply to letter 9/29 1338 eta 4t. credit, survey for 1947 approved 12/15 1752 lrsment system: Amendments to Rules and Regulations proposed, not approved by Board, advice to Mr. Rounds 7/18 1070 Annual report to Board by Board's representative, memo of Mr. Szymczak re, question to be considered further 10/31 1494 Benefits: Basic pension benefit, change from cash refund to straight life basis proposed, approved for future members, advice to Mr. Rounds 12/30 1842 Employees in military service, discussion at Presidents Conference of uniform policy and discontinuance of certain, letter to be sent to FRBanks outlining program 10/ 7 1388 Board of trustees, Board's representative onlmemo of Mr. Szymczak re, question to be considered further 10/31 1494 Board's representative and report to Board by, action on rotation of membership to be deferred pending decision on investment policy 12/ 5 1699 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 269 Pages Retirement system: (Continued) Contributions: Conniff, H. F., Vice President at FRBank of Atlanta, contribution approved, but less than 5/27 requested Swanson, E. W., FRBank of Minneapolis, supplemental con1/ 3 tribution not to be granted Disability retirements: Shaw, Yvonne Dodd, allowance approved from December 1, 3/11 1945 4/ 8 Approved Extensions of service: Parrish, Bess G., FRBank of Kansas City, salary approved for active service during period January 1 1/30 I June 30 Watson, Mary H., to be retained to end of 1947 /4 31 9 FRBanks, benefits of officers, discussion at FAC meeting Investment committee, not necessary for Board representative 12/ 5 on board of trustees to be member of Investment policies, formulation and approval, Mr. Szymczak and staff members to study problem and matter 7/18 to be considered further Amendment to Section 7, Subdivision 3 of Rules and Regu10/17 lations approved, advice to Mrs. Frank Discussion re management of funds and purchase and sale of securities, Mr. Szymczak to submit further 10/31 recommendation for discussion Discussion of Mr. Szymczakis memo re, memo outlining changes proposed by Chairman Eccles to be prepared for discussion at Presidents Con12/ 5 ference Presidents at Changes proposed in Board plan, discussion Conference, no action to be taken at present, matter to be discussed further at next 12/ 9 Conference FRBank of New York, suggested as Agent for handling investments, discussion at Presidents 12/ 9 Conference, no action at present Board under interest be charged to not T., Malone, Charles Plan for service prior to Jan. 1, 1944 and withheld interest to be restored to account 2/18 after return from military service credit service of discontinuance Military service benefits, and reimbursement for cost of premiums on National Service Life Insurance, to be dis7/18 cussed at Presidents Conference January 1, 1948, to be termination date for special benefits for employees entering, advice to 11/12 FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 801 8 392 536 147 22 1310 1700 1072 1447 1494 1696 1719 1720 219 1076 1544 270 Pages Retirement system: (Continued) Northern Trust Company, Chicago, Ill., arrangement for managing fund, termination suggested by Chairman Eccles lo/31 Payments: Davis, Chester C., FRBank of St. Louis, additional payments on behalf of, approved 10/31 Endresen, Ingrid, payment by FRBank of New York approved 1/ 9 Stewart, Virgil A., FRBank of Kansas City, approved, approval to be obtained for salary if active service continued 9/24 Public Law No. 263, withdrawal of contributions from Civil Service Retirement System upon separation with less than ten years of service, not applicable to Board of Governors Plan of, 8/20 resolution adopted Retentions in service: Compensation for more than 90 days after age 65 not to be more than salary less retirement bene12/ 5 fits, FRBanks to be advised Employees until age 70, change in system and compensation arrangement suggested by Chairman Eccles, matter to be discussed at Presi11/ 4 dents Conference Fletcher, Wilson T., foreman operator (mimeograph), to be retained in active service at present 7/15 salary until 1948 Jordan, Eugene P., operating engineer, retention in active service until end of 1947 with no change 7/17 in salary approved Kennedy, Joseph G., FRBank of Kansas City, retention in active service until December 31, 1947, and 7/ 1 salary approved Stewart, Virgil A., carpenter at FRBank of Kansas City, 12/31 salary approved Tyner, E. P., Assistant Cashier at FRBank of Kansas 162/3 City, salary and retention in active service through December 31, 1947, approved Salary approved Vaughn, George A., FRBank of Kansas City, retention in active service and salary approved for 1947 5/ 2 ;1 latson, Mrs. Mary H., file clerk, continuation in active 11/19 service through June 30, 1948, approved Retirements: Anderson, E. F., sergeant on guard force, effective March 2/ 4 1, noted Bailey, A. F., Vice President at Little Rock Branch, advice of, letter to Mr. Wood re resolution 4/30 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1496 1499 29 1323 1206 1692 1520 1058 1063 1000 1845 18g85 674 1594 173 660 Retirement, system: (Continued) 271 Pages Retirements: (Continued) Dyson, Seaton, messenger, retirement to be effective August 1, 1947, noted 7/ 3 Fitzgerald, Mrs. Frances, granted extension of leave without pay to September 1, 1948, at which 5/ 8 time she will retire Fletcher, Wilson T., foreman operator (mimeograph), retirement effective December 31, 1947, noted12/11 Lamb, Mrs. Ruth S., clerk, to be retained in active 8/12 service until September 30, 1947 Retirement effective October 1, 1947, retention in active service past age 65 due to incorrect 9/11 information re date of birth Official staff of Board, problems re successoTs and possible changes to be studied by Personnel Committee and recommendations to be sub5/13 mitted to Board later Paulger, Leo, Special Adviser, to be effective April 1, noted 3/24 Tyner, E. P., Assistant Cashier at FRBank of Kansas City, retirement age to be reached on May 30, 5/23 1947 Rules and Regulations, amendment to Section 7, Subdivision 3 re investment of funds approved, advice to Mrs. Frank 10/17 Withdrawal of contributions, resolution adopted that Public Law No. 263 not apply to Board of Gover/20 nors plan vercomb, Senator Chapman, reply to request for report on S. 5/13 • 1156 not to be made ..Leed Statutes: Section 5219, taxation of national banks by States, proposed 1/30 amendment to, no objection to Ro 1022 690 1734 1167 1270 720 449 790 1447 1206 717 152 bberies: Messengers delivering money to and from Seattle Branch, reply to Mr. Hoover on information as to plans for2/19 Precautions against, Presidents to be advised of Board's 2/27 position at joint meeting Survey to be made by FBI of practices of FRBanks in handling money and securities, and educational campaign to be conducted among member banks, discussion at Presidents Conference 2/28 Discussion by FBIwithABA suggested, advice re discussion 3/27 of question at Presidents Conference 11°bert Morris Associates, study to be continued during 1947 1/27 Study of financial needs of industry, discontinuance of cooperative arrangement, advice to Mr. Duning assistance of Board in credit analysis to 11/19 be available http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 225 269 302 470 124 1596 272 Pages Robert Morris Project Schedule, extension approved by Bureau of the Budget, but to be discontinued after extension if reporting service by Federal Trade Commission and SEC is approved by 3/14 Congress licers)Edith Nourse, H. R. 4488, a bill to amend Servicemen's Readjustment Act of 1944, Board not in 12/17 favor of enactment advice to John T., designation of Toledo as reserve city, letter 9/26 read at Board meeting Resolution adopted by Toledo Clearing House Association opposing termination, to be considered by 11/20 Board, advice to non4rekeeP1ng of Treasury bills and certificates, service to member banks by FRBanks to be termiAated, )/6 advice to FRBanks o , 1 T be 5/16 n considered at Presidents Conference UStody accounts for nonmember banks, termination of service as recommended by Presidents Conference 6/6 - approved 6/18 3rm1nat1on approved, instructions to FRBanks 2 PRBank of Atlanta: 3/18 Employees, noted without objection refor approved salaries Employees, minimum and maximum spective grades, in connection with job 8/28 classification plan V16 Officers, approved R1148.nk of Boston: 3/18 Employees, noted without objection refor approved salaries maximum and minimum Employees, spective grades, in connection with job 8/28 classification plan 5/9 Officers, approved 408.nk of Chicago: ' 3/18 Employees, noted without objection EMployees, minimum and maximum salaries approved for respective grades, in connection with job8/28 classification plan Officers, Messrs. Young and Avery to be invited to .discuss question of salaries of FRBanks with 3/25 Personnel Committee • Officers, discussion of Messrs. Young and Avery with Per4//i sonnell Committee entire • Officers, approved for 1947 after discussion of program, further recommendations for officers above rank of Cashier, including Manager of Detroit Branch, to be considered upon submis4/4 sion by Chicago Bank http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 411 1786 1329 1603 689 741 866 940 419 1224 737 419 1221 696 419 1225 46o 512 515 273 Pages Salaries: (Continued) FRBank of Chicago: (Continued) Officers, salary increases approved after new recom5/ 1 mendation FRBank of Cleveland: 3/18 Employees, noted without objection Employees, minimum and maximum salaries approved for respective grades, in connection with job 9/ 8 classification plan Employees payment below minimum for eleven approved for 12/29 temporary period Officers, informal discussion, employment of outside counsel to be discontinued after May 1, 1948, Bank to be advised at time of formal 4/11 approval of salaries 4/29 Officers, approved FRDank of Dallas: 3/18 Employees, noted without objection Employees, minimum and maximum salaries approved for respective grades, in connection with job 8/28 classification plan 6/ 4 Officers, approved FRBank of Kansas City: Cost of living adjustment suggested in consideration of 11/14 budget for 1948 3/18 Employees, noted without objection Employees, minimum and maximum salaries approved for respective grades, in connection with job 9/24 classification 5/23 Officersl approved FRBank of Minneapolis: Employees, noted without objection, including salary of 3/18 Mr. Karl VanderHorck, Examiner refor approved salaries maximum and Employees, minimum spective grades, in connection with job 8/28 classification plan 5/ 1 Officers, approved PRBank of New York: 3/18 Employees, noted without objection Employees, minimum and maximum salaries approved for respective grades, in connection with job 9/18 classification plan 3/25 approved Officers, FRBank of Philadelphia: 3/18 Employees, noted without objection Employees, minimum and maximum salaries approved for respective grades, in connection with job 8/28 classification plan http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 667 419 1254 1836 554 656 419 1226 8411 1554 419 1321 790 419 1225 669 419 1282 /156 419 1223 27h Pages Salaries: (Continued) FRBank of Philadelphia: (Continued) Employees, adjustments to minimum of grade in connection with job classification plan, list and reasons for deferments after January 1, 19481 to be submitted to Board 9/ 9 Officers, informal discussion, employment of outside counsel to be discontinued after May 1, 1948, Bank to be advised at time of formal approval of salaries 4/11 Officers, approved 4/29 FRBank of Richmond: Employees noted without objection 3/18 Employees 1 minimum and maximum salaries approved for respective grades, in connection'with job classification plan 8/28 , Officers, approved 5/16 rRBank of St. Louis: Employees 5 noted without objection 3/18 Employees 3 minimum and maximum salaries approved for respective grades, in connection with job classification 8/29 Officers, approved 6/13 FRBank of San Francisco: Employees, noted without objection 3/18 Employees, minimum and maximum salaries approved for respective grades, in connection with job 8/28 classification plan Officers, approved for 1947 4/11 Officers, Chairman Eccles to discuss matter with direc4/18 tors, acknowledgement of comments re FRBanks: Classification plans, available to member banks, state9/23 ment of Chairman Eccles at FAC meeting Employees, cancellation of statement in letter X-95321 with adoption of new plan of job classification, advice to FRBanks 9/ 4 Frequency of pay days, bi-weekly or weekly basis favored if possible to work out satisfactorily, dis2/28 cussion at Presidents Conference Officers, letter to FRBanks stating views of Board to be 3/25 prepared Salary classification plan or formula for, adoption suggested by discussion of officers' sala3/25 ries at New York and Chicago Banks 3/28 Letter to FRBanks stating views of Board re Senior officers at FRBanks, discussion of 4/ 4 Acknowledgement of letter from FRBank of San 5/27 Francisco re Board's views on http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1262 554 655 419 1224 736 419 1237 911 419 1226 555 607 1311 126 282 h61 461 1133 517 802 275 Pages Salaries: (Continued) FRBanks: (Continued) Officers: (Continued) Discussion of quality of management and salary 9/23 situation at meeting of FAG with Board in connection Discussion at Presidents Conference with adoption of personnel classification plans, increases for junior officers to be considered, but adjustments for senior officers to be submitted at time of regular 10/ 7 annual review Change in date for submitting, suggested by Mr. 12/19 Vardaman Salary classification plans, subject assigned to Personnel Committee until completion of work, after which assignment to revert to Mr. 5/23 Vardaman Matter of scales and variation referred to Personnel Committee for study and recommendation be5/23 fore Presidents Conference Discussion of policy re wage scales, further discussion to be held before Presidents Con6/ 4 ference Discussion at Presidents Conference of progress made, further study to be made to reach 25% 6/ 6 variation Advice to FRBanks re salary structures and status of studies on job evaluation and classifica6/17 tion Discussion of draft of final report, Personnel Committee authorized to approve plans and upon completion of uniform plan letter to be sent to FRBanks commending work and recommending narrowing of spread between highest and 7/22 lowest salary structures commendaof FRBanks Plan approved by Board, letter to tion for work, new plan to be effective as soon as wage structures adopted and approved 8/12 by Board PRBranch Banks: Buffalo Branch: Employees, minimum and maximum salaries approved for respective grades, in connection with job 9/18 classification plan Branch: Cincinnati Employees, minimum and maximum salaries approved for respective grades, in connection with job 9/ 8 classification plan http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1307 1387 1803 787 788 845 867, 888 933 1084 1169 1282 1254 Salaries: (Continued) 276 Pages FRBranch Banks: (Continued) Houston Branch: Vice President in charge of, salary of $12,000 favored by Mr. Vardaman for 6/ 4 843 Los Angeles Branch: Employees, minimum and maximum salaries approved for respective grades, in connection with job classification plan 8/28 1227 Pittsburgh Branch: Employees, minimum and maximum salaries approved for respective grades, in connection with job classification plan 9/ 8 1254 Portland: Employees, minimum and maximum salaries approved for respective grades, in connection with job classification plan 1227 8/28 Salt Lake City: Employees, minimum and maximum salaries approved for respective grades, in connection with job classification plan 8/28 1227 Seattle: Employees, minimum and maximum salaries approved for respective grades, in connection with job classification 8/28 1227 Selo_ s'‘Lsinger, te T., Regulation W, reply to letter re abandonment of 5/13 722 8,, 'noels of banking: Attendance of officers and employees of FRBanks, discussion in connection with question of Central States School of Banking and Pacific Northwest School of Banking, letter re to be revised 1/27 for further consideration 115 Policy of Board re expenses and leave of absence, advice to FRBanks 2/3 159 (See also Graduate School of Banking) -eurain, Emil, margin requirements, letter from Chairman Eccles in reply to 3/10 366 Se"t3 Ar. T., margin requirements, reply to letter sent to Senator Tobey 6/13 916 8ears Roebuck & Co., Durham, N. C., advertisement re vacuum cleaners in violation of Regulation W, matter referred to FRBank of Richmond, advice to Mr. Kelly 10/ 8 1409 Sec retary of the Treasury: Bank holding company legislation (S. 829), suggestion of Mr. Thomson, President of Northwest BanCorporation, endorsed by Reserve City Bankers and FAO, letter sent to Mr. Snyder requesting approval 5/22 778 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 277 Pages Secretary of the Treasury: (Continued) Snyder, John, to be invited to join Presidents and Board members for golf and dinner at Burning Tree Country Club 9/26 Transamerica Corporation, anti-trust proceeding against, views of Secretary Snyder requested concerning American Tobacco case and entire situation 4/15 Secretary's note: Cincinnati Chamber of Commerce Building, no objection to purchase, provided legislation authorizing purchase enacted by Congress, advice to Mr. Gidney 5/15 Credit, expansion of bank, statement of FAC revised and presentation by Chairman Eccles requested at hearing before Joint Coanittee on Economic Report and Banking and Currency Committees 11/18 Malone, Charles T., FRExaminer, request for leave without pay to accept position to serve with occupation forces in Japan, not approved by Personnel Committee 4/23 Regulations T and U, amendments to supplements to reduce margin requirements to 75%, advice from Mr. Eccles of approval by White House, Secretary of the Treasury, and Mr. Vardaman 1/17 Reserves, special reserve plan, memo of November 25 re, not sent to FRBanks 11/26 Taft-Hartley Labor Bill, letter in favor sent to White House after talk with Presidential Aide Clifford 6/17 Se International Bank Debentures, purchase of, statement to be published in July issue of FRBulletin, advice to FRBanks 6/24 Securities and Exchange Commission: °tie & Co. of Cleveland, Ohio, determined to be subject to Regulation T, advice to Mr. Loss 1/20 Regulation T, amendment to section 4(c) to extend time for settlement to be made for bona fide cash transaction in special cash account, recommendation of Mr. Fulton and tentative draft sent to Mr. Treanor 12/18 Sem 'Ilrities exchange administration: American Business Shares, Inc., loan to purchase or carry • stock of, not subject to provisions of Regulation U 4/10 Borrowing of securities if lender is private individual, applicability of section 6(h) of Regulation T, reply to inquiry from FRBank of New York 7/11 Boston Stock Exchange, listing of securities by corporations on, reply to letter from Mr. Besse re difficulties 7/ 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1330 582 732 1591 626 83 1670 931 979 89 1790 543 1051 1025 278 Pages Securities exchange administration: (Continued) Cash transactions, requirements of Regulation T, reply to letter of Mr. J. W. Chappell Chicago Stock Exchange, plan for improving markets on, consistent with Regulation T Control of stock market credit, letter to Senator Tobey in reply to correspondence from Mr. Russell G. Longmire Detroit Edison Employees Credit Union, applicability of Regulations T and U to credit for purchase of stock of Detroit Edison Company, advice to Mr. Allman Enforcement of Regulations T and U, Presidents to be advised of Board's position at joint meeting Joint account for trading in securities, applicability of Regulation T, advice to FRBank of San Francisco Margin accounts, reply to inquiry re Regulation T from Mr. Charles R. Cooper sent to Congressman Gearhart Application of Regulation T to switching of securities in frozen, reply to inquiry from Dr. Amos R. Shirley Margin requirements, reply to letter from Mr. Oliver B. Henry Reduction in, discussion, draft of statement to be considered at meeting on January 17, Chairman Eccles to advise White House and Treasury of contemplated reduction, SEC to be advised of action to be taken Reduction to 75% approved Supplements to Regulations T and U, statement to be published in February issue of FRBulletin Reply to letter from Mr. James F. Burns, Jr. Schram, Emil, letter from Chairman Eccles in reply to Differential in, discussion at meeting of FAC with Board, FAC opposed to Reduction and relaxation of rules, second draft of reply to Mr. James F. Burns, Jr., approved of Mr. Milton S. Koblitz suggestions to Reply Reduction in, discussion at meeting of FAC with Board Reply to letter from Mr. Russell G. Longmire sent to Senator Tobey Reply to letter from Mr. R. R. Wilson sent to Senator Tobey Reply to letter from Mr. W. T. Scott sent to Senator Tobey General purpose Congress intended by administration of, reply to letters from Mr. Francis Adams Truslow Borrowing of securities, statement to be published in August issue of FRBulletin http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/4 7/18 173 1079 5/6 687 )4/1 495 2/27 269 6/23 970 1/23 102 5/28 1/7 804 15 1/14 1/17 77 1/23 2/10 3/10 103 192 366 3/11 375 3/28 477 4/3 5/20 509 756 6/13 914 6/13 915 6/13 916 6/24 975 7/23 1091 279 Pages Securities exchange administration: (Continued) Margin requirements: (Continued) Reduction in, reply to letter from Mr. Thos. J. Healy 9/30 Reply to letter from Mr. Floyd Y. Keeler, Orvis Brothers & Co. 10/1 Reply to letter from Mr. Floyd Y. Keeler suggesting reduction in 10/14 Reduction to 33-1/3 required for purchase of grain contracts, reply to suggestion from Mr. F. C. Willis, Greensboro, N. C. 10/24 Reduction suggested by Mr. N. Leonard Jarvis, reply of Chairman Eccles to 12/11 National Shawmut Bank, Boston, Mass., loans to beneficiaries for purchase of stock of trust, applicability of Regulation U 4/24 Otis 8c Co. of Cleveland, Ohio, determined to be subject to Regulation T, advice to SEC 1/20 Paul H. Davis & Co., partnership agreement with Mr. Franklin B. Evans, applicability of Regulation T 6/ Regulation T, amendment to section 4(c) to extend time for settlement for bona fide cash transaction in special cash account recommended by National Association of Securities Dealers, Inc., copies of correspondence and draft of amendment sent to FRBanks for consideration12/ 4 Recommendation of Mr. Fulton and tentative draft sent to Mr. Treanor, SEC 12/18 Regulations T and U, administration and enforcement, liberalization re substitution of securities in under-margined accounts, discussion at Presidents Conference, matter to be considered further 2/28 Sears, Roebuck and Co., proposed loan to employee to purchase stock of, applicability of Regulation Up reply to Mr. aillard G. Barker 4/18 Security loans and other matters re stock markets, reply to letter from Mr. Von Nostitz concerning Board's regulations 10/16 Short selling on stock exchange, reply to letter from Mr. Thomas R. Furman sent to Senator Tobey 6/13 Special Miscellaneous Account under section 4(f)(6), deposit of securities for protection of broker, reply to inquiry from Paine, Webber, Jackson & Curtis 2/26 Stock Clearing Corporation of Boston, question of loans, applicability of Regulations T and U 6/ 2 Withdrawal of cash from margin account on sale of securities to pay income tax, not permitted by Regulation T, advice to Mr. Watson S. Dudley 1/ 7 811.1 -Lra.ey, Dr. Amos R., Regulation T, application to switching of securities in frozen margin accounts, reply to inquiry 5/28 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1350 1355 1429 1481 1740 631 89 849 1686 1790 293 608 1436 913 265 831 15 804 280 Pages 4111mons, Robert C., donations to Police Boys Club, reply to 2/17 request that employees be solicited for business: FRAct, bill to repeal section 13b and to amend section 13, copy and recommendation for enactment sent to Chairmen of Senate and House Committees on Banking and Currency Letter to Chairman Wolcott revised to incorporate reference to statement contained in President's 1/23 budget message Manufacturing and trade concerns, study in cooperation with Robert Morris Associates to be continued 1/27 in 1947 S. 408, bill introduced by Senator Toby, views of Board re 2/20 To repeal section 13b and to amend section 13'of FRAct, letter to FRBanks stating need for affirma3/21 tive action promptly S. 1740, to establish a Federal Small Business Corporation, Board not in favor of enactment, report sent lo/ 1 to Senator Tobey Sraith, Roscoe C.) resolution adopted by Fort Worth Clearing House Association re reimbursement of member banks for postage and other transportation costs, acknowledgment of letter and 8/19 advice to Mr. Gilbert South America: Evans, R. M., authorized to visit in connection with agricultural problems and to call at central banks to strengthen Board's association with 7/22 authorities 8Pahr, Walter E., Economists' National Committee on Monetary Policy, letter to FREanks re interest charge on FRnotes, telegram to FRBanks suggesting that reply state approval of matter rested 7/22 with Board Confidentiality of discussions between Board and Presidents stated in reply to inquiry, advice to 7/23 FRBanks 81 'inger„ Congressman Raymond S., Regulation WI reply to letter 5/28 from Mr. C. B. Currey sent to 4;11)4Jaization, international International Bank Debentures, purchase of, statement to be published in July issue of FRBulletin, ad6/24 vice to FRBanks International Bank for Reconstruction and Development: FRBank of New York to act as fiscal agency re bond issue 7/23 of, agreement approved Forms for commercial banks in reporting disbursements under letters of credit in connection with transactions financed by, to be distributed by FRBanks Rounds, L. R., fiscal agent for, current information re . duties requested smaal http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/24 6/25 218 39 104 124 228 445 1356 1196 1087 1089 1096 8o5 979 1096 978 983 281 Pages Stabilization, international: (Continued) International Fund and Bank Conference in London, Mr. Knapp to attend and also to visit central banks 8/ 1 in Europe, advice to FRBank of New York Staff of Board of Governors: Attendance at convention of American Bankers Association to 6/20 be only when there is a specific reason Board Members Section: Malia, Anne, secretary to Mr. Morrill, permanent assign6/13 ment and salary increase approved effective be to retirement Paulger, Leo, Special Adviser, 3/24 April 1, noted Paulger, to Mr. Payne, Mrs. Marguerite A., secretary transfer to Division of Examinations as secretary to Mr. Sloan with no'change in 3/17 salary approved 3/25 accepted Resignation Shaw, Yvonne Dodd, secretary to Mr. Morrill, disability retirement allowance approved from December 3/11 1, 19h5 4/ 8 Disability retirement approved Cafeteria: Adwell, Mrs. Lydia M., cafeteria helper, appointment on 12/23 temporary basis and salary approved Akers, Mrs. Dorothy H., cafeteria helper, appointment 3/19 on temporary basis and salary approved Separation from service, without prejudice, approved, reimbursement for overdrawn leave to be 5/20 obtained Amrin, Joyce N., cafeteria helper, appointment on tempo6/13 rary basis and salary approved Extension of appointment without change in salary 8/12 approved 9/11 Resignation accepted 1/30 Bissett, Alvin, cook, salary increased Bolac, Mrs. Ethel M., cafeteria helper, appointment on 3/14 temporary basis and salary approved in change without Extension of temporary appointment 5/14 salary approved 8/ 11 Resignation accepted on appointment helper, Boyd, Mrs. Kathrine, cafeteria 10/ 8 temporary basis and salary approved without basis temporary Extension of appointment on 12/ 9 change in salary approved 1/30 increased salary helper, Broadhurst, Blanche, cafeteria 1/30 increased baker, salary Brown, Eva, on appointment helper, S., Reba cafeteria Brown, Mrs. 8/11 temporary basis and salary approved 8/28 Resignation accepted http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1129 954 910 449 413 461 392 536 1821 422 747 911 1168 1271 145 410 724 1163 1406 1727 145 145 1163 1220 282 Pages Staff of Board of Governors: (Continued) Cafeteria: (Continued) Canter, Mrs. Mary Ethel, cafeteria helper, appointment on temporary basis and salary approved Appointment made permanent with no change in salary Crawford, Mary, Head Cook, salary increased Gill, Katie, cafeteria helper, salary increased Glover, Mrs. Hazel M., cafeteria helper, appointment on temporary basis and salary approved Resignation accepted Harrison, Dora, Junion Supervisor, salary increased Huffman, Mrs. Lena Eo p cafeteria helper, appointment on temporary basis and salary approved Imhoff, Mrs. Anna, cafeteria helper, appointment made permanent without change in salary increased Salary Jones, Ruth E., cafeteria helper, appointment on temporary basis and salary approved Extension of appointment without change in salary approved Resignation accepted McGuire, Mrs. Mary C., cafeteria helper, resignation accepted McVearry, Florence, cafeteria helper, salary increased Myers, William, cafeteria helper, salary increased Preble, Mildred Louise, Assistant Supervisor, appointment on temporary basis and salary approved Psomos, George, cafeteria helper, salary increased and appointment made permanent Supervisor or Assistant Supervisor authorized to use $50 of petty cash funa for purchases of food from farmers' market, etc. Swygert, Rebecca M., Assistant Supervisor, appointment on temporary basis and salary approved Appointment made permanent and salary increased Resignation accepted Tavenner, Mrs. Mary, cafeteria helper, resignation accepted Taylor, Harry, cafeteria helper, salary increased salary increased vi Tull, Winnie, Junior Supervisor, helper, resignation cafeteria Rose L., Williams, Mrs. accepted Career system to fill senior positions, questions raised by Mr. Draper Charwomen: Bertolini, Madalena, salary increased Boyd, Mrs. Kathrine, resignation accepted Boyd, Libbie L., salary increased Cook, Clara Ray, salary increased Corbin, Sarah F., salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/16 1061 9/17 1278 1/30 145 4/ 1 495 221/N 1/30 85 318 145 10/ 1 1355 2/14 210 12/18 1789 6/19 942 8/12 1168 9/17 1279 86 1/17 8/27 1218 4/ 1 495 12/ 3 1682 12/18 1789 6/26 987 3/17 414 8/27 1217 11/19 1595 3/31 492 ) ( 3( 1/3) 111-5 2/20 226 10/21 1465 1551 615 11/13 1551 3/17 414 11/13 1551 11/13 14/22 283 Pages St of Board of Governors: (Continued) Charwomen: (Continued) 11/13 Crowell, Teresa Fo p salary increased 11 /13 Dalton, Margaret, salary increased 9/10 terminated Deskin, Mrs. Attie L., appointment 11/13 Enrico, Mary Jo, salary increased 11 /13 Peacock, Blanche E., salary increased tempoon appointment Richardson, Mrs. Constance Rix, 9/11 rary basis and salary approved 11/13 Steiner, Almeda, salary increased 11/13 Sunderman, Ethel M., salary increased 7/30 increased salary Thorne, Grace L., 1 4/ increased Utz, Anna M., salary temporary on appointment A., Mrs. Louise Wrightson, 4/29 basis and salary approved Extension of appointment without change in salary 6/26 approved 3/17 Young, Elizabeth M., salary increased Chauffeurs: 4/28 Bell, J. Frank, Head Chauffeur, salary increased 1/30 Crowell, Charles E., salary increased 12/18 Gardner, William, salary increased Proposal re handling of cars and separation from guard force not approved, study re reduction in 1/14 number of guards and chauffeurs to be made 4/28 Stull, Howard W., salary increased Consultants: Goldenweiser, E. A., services to be continued until end of 1948, further retention to be considered 10/ 3 in connection with annual budget To assist with Board's work on present legislative program, compensation and per diem approved 11/26 Haberler, Gottfreid, arrangement for services discon10/ 3 tinued 10/ 3 discontinued Hansen, Alvin, arrangement for services end until continued be Lutz, Friedrich A., services to of 1948, further retention to be considered 10/ 3 in connection with annual budget Morse, Chandler, appointment discussed, memo re to be 10/ 3 rewritten expenses traveling and Appointment, compensation, approved until end of 1948, question of further retention to be raised in connection 10/31 with annual budget to appointment re A., recommendation Richard Musgrave, 10/ 3 be submitted Appointment, compensation, and traveling expenses approved until end of 1948, question of further retention to be raised in connection 10/31 with annual budget http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1551 1551 1265 1551 1551 1271 1551 1551 1114 495 654 985 414 649 145 1789 52 649 1364 1672 1364 1364 1364 1362 1512 1364 1512 284 Pages Staff of Board of Governors: (Continued) Consultants: (Continued) Musgrave, Richard A.: (Continued) To prepare critical analysis of statement on taxes and the budget, compensation and expenses for 11/10 To prepare reports on papers and discussions while attending Conference of National Tax Association 11/13 Services of part-time, to be requested with approval of Board upon recommendation by Personnel Committee after consultation with division head or member of Board, request to be ap10/ 3 proved for entire project at one time Counsel's Office: Baumann, John C., statement re applications of Republic National Bank and Republic National Company, 8/29 Dallas, Texas, for voting permits Crosby, Jean, stenographer, salary increased 4/30 Edwards, Mrs. Evelyn W., stenographer, granted leave without pay because of illness 1/30 Federal statutes, bills to repeal obsolete provisions, study to be made and advice to be sent to Senator Wiley 4/30 Hackley, Howard H., history of V-loan and T-loan programs prepared by, copies sent to FRBanks on confidential basis 9/ 14 Knox, Mrs. Ruth Esther, stenographer, appointment and 1/30 salary approved McColloch, Lucy I., secretary to Mr. Vest, salary 4/30 increased Solomon, Frederic, Assistant Counsel, loan to Bureau of 2/18 the Budget for one month approved approved 84 Extension of loan for one week Townsend, J. Leonard: Amendments to bank holding company bill (S. 829 and 5/23 H. R. 3351), statement at Board meeting re Examination reports of State member banks, use by GAO, to meet with representatives of FDIC and 1/17 Comptroller of the Currency Kefauver Bill (H. R. 515), statement before subcom4/ 8 mittee of House Judiciary Committee To serve as associate counsel in Detroit suit 4/15 Transamerica Corporation, monopolistic aspects of expansion, investigation recommended in memo 10/31 to be made Designated to visit San Francisco and other places on West Coast for investigation re Transamerica Corporation, advice to Mr. Earhart 11/24 Title changed to Associate General Counsel and salary 12/19 increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1540 1550 1362 1232 659 143 664 1247 143 659 219 449 779 76 529 579 1506 1634 1807 285 Pages Staff of Board of Governors: (Continued) Division of Administrative Services: Anderson, E. F., sergeant on guard force, retirement effective March 1, noted Anderson, Helen M., clerk, appointment made permanent and salary increased Arnold, Mrs. Mary Rose, stenographer, appointment and salary approved Ball, L. L., Assistant Supervisor (Telegraph), salary increased Bare, Edith, page, salary increased Barnes, Bricen, operator, (duplicating devices), salary increased and appointment made permanent Bass, S. H., Chief, Fiscal Section, salary increased Bell, J. Frank, Head Chauffeur, salary increased Bertol, Louis N., Captain of the Guard, salary increased Bertolini, Madalena, charwoman, salary increased Bethea, L. P., Director, designated liaison officer to collaborate with Joint Property Accounting Staff, Bureau of the Budget Bigler, Sandra, elevator operator, salary increased Resignation accepted Blash, John, Maintenance Mechanic, salary increased Bloch, Stanley J., Foreman Opr. (Dup. Devices), salary increased Boothe, Woodley, General Mechanic, salary increased Boucher, Anna Mae, page, salary increased Resignation accepted Boyd, Mrs. Kathrine, charwoman, resignation accepted Boyd, Libbie L., charwoman, salary increased Brown, Alice C., clerk, salary increased Resignation accepted Buckley, Thomas N., telegraph operator, reinstatement upon return from military leave and salary approved Capozio, Mrs. Helen Marie, tabulating machine operator, appointment on temporary basis and salary approved Carmichael, E. L., Supvr. Publications Sec., salary increased Carter, Beverly A.1mail clerk, to be transferred from Division of Research and Statistics Carter, Robert, laborer, salary increased Chauffeurs, proposal re handling of cars and separation from guard force not approved, study re reduction in number of guards and chauffeurs to be made Clarke, Mary T., clerk-stenographer, salary increased Transfer to Division of Research and Statistics without change in salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/ 4 173 4/28 648 4/ 1 494 4/ 1 495 8/27 1218 3/17 413 7/30 1114 4/28 649 8/27 1218 11/13 1551 9/18 3/17 3/25 4/ 1 1285 414 462 495 12/18 10/ 9 8/27 10/24 4/22 11/13 3/17 11/13 1789 1414 1218 1478 615 1551 413 1551 1/27 130 5 1528 11/ 10/ 9 1414 12/15 1763 7/30 1114 1/14 6/13 52 910 12/23 1820 286 Pages Staff of Board of Governors: (Continued) Division of Administrative Services: (Continued) Constable, Frank W., Operator (Dup. Devices), salary 5/21 increased 3/17 increased salary Cook, Clara Ray, charwoman, 11/13 Cook, Thomas Go, guard, salary increased 11/13 increased salary Corbin, Sarah F., charwoman, 1/30 increased salary chauffeur, E., Crowell, Charles 11/13 increased salary Charwoman, F., Crowell, Teresa Crump, Allison, operator, duplicating devices, resigna8/28 tion accepted 11/13 increased salary charwoman, Margaret, Dalton, 7/30 Deakins, Thomas R., guard, salary increased 3/17 Dellatorre, Mary V., stenographer, salary increased Transfer to Office of Mr. Darper without'change in 6/ 3 salary approved Deskin, Mrs. Attie L., charwoman, appointment terminated 9/10 Dinkins, Benjamin L., laborer, appointment on temporary 10/ 8 basis and salary approved Extension of appointment on temporary basis with no 12/ 4 change in salary approved 10/ 9 Dorsey, Mary E., Printing Clerk, salary increased Duckett, Vivian R., page, appointment on temporary basis 6/ 5 and salary approved Dyson, Nelson S., Operator (Dup. Devices), salary 12/18 increased Dyson, Seaton, messenger, retirement to be effective August 1, 1947, noted 11%13 Eaton, Marjorie, stenographer, salary increased 11/13 Enrico, Mary J., charwoman, salary increased 10/ 9 Faber, Philip D., Supply Clerk, salary increased 12 /17 accepted Faust, Ralph L., guard, resignation 7/30 increased salary Flagg, M. P., Telegraph Operator, Fletcher, Wilson T., foreman operator (mineograph), to be retained in active service at present salary until 1948 172/A Retirement effective December 31, 1947, noted basis temporary on appointment guard, H., Florea, Hiram 9/ 9 and salary approved 5/21 Fowler, Preston E., laborer, salary increased /18 12 increased salary chauffeur, Gardner, William, resignaengineer, operating Jr., T., Joseph Glotfelty, 6/18 tion accepted Glover, Mrs. Hazel M., elevator operator, appointment on 4/15 temporary basis and salary approved Appointment on temporary indefinite basis with no 10/15 change in salary approved Griffith, Flora J., Chief Telephone Operator, salary 12/18 increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 771i 414 1551 1551 145 1551 1220 1551 1114 413 836 1265 1407 1686 1414 851 1789 022 a T 1 1551 1414 1784 1114 1058 1734 1261 774 1789 938 581 1432 1789 287 Pages Staff of Board of Governors: (Continued) Division of Administrative Services: (Continued) Hardy, William E., laborer, transfer to Division of Research and Statistics as messenger with 8/13 increase in salary approved pher, transfer -stenogra Harloff, Mrs. Moynelle E., clerk to Division of Research and Statistics with6/12 out change in salary approved /17 6 Resignation accepted 11/13 increased Hauser, Adam V., guard, salary Herdman, Arthur P., general mechanic, appointment on 9/19 temporary basis and salary approved 10/ 9 increased salary her, Hulen, Helen L., clerk-stenograp 9/23 accepted on Hurst, Donald A., clerk, resignati IBM equipment, additional operator to be employed upon 7/15 later recommendation ility responsib and basis g continuin on To be leased of operation to be transferred from Division 7/15 of Research and Statistics to increased salary clerk, P., Miriam Jasper, N8 Johnson, Mary E., telephone operator, salary increased 10/ 9 increased salary Laborers, of Foreman Sven, Johnson, 1/30 Jones, Robert H., mail clerk, salary increased 1/30 Jordan, E. P., Operating Engineer, salary increased Retention in active service until end of 1947 with 7/17 no change in salary approved 9 12/ Resignation accepted Keefe, Mrs. Josephine B., page, appointment and salary approved e/12-7 Resignation accepted Federal on Kelleher, J. E., to serve as representative Interdepartmental Safety Council, advice to Mr. Blanchard 3/1 6 Assistant to Director, salary increased of use in courses Selected as representative to take 8/12 mechanical equipment basis temporary on nt Kennely, Marion, laborer, appointme and salary approved Extension of temporary appointment for two months 7/2 22 9/6 without change in salary approved 29 edy / 8 increas salary Sec., nt Kern, Harry E., Supvr. Procureme increased Kidd, Marjorie, page, salary Transfer to Secretary's Office as file clerk without 6/13 change in salary approved 1/30 increased salary Clerk, g Kramer, F. Allison, Accountin /13 6 increased salary Langham, Lee N., Sergeant, 4/ 1 increased salary Engineer, W., Operating Larson, Bernard 3/17 increased salary elevator operator, Lewis, Evelyn, Lynch, James P., reservation clerk, appointment on tempo1/27 rary basis, and salary approved 6/23 Appointment made permanent 11/13 Salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1171 904 936 1551 1287 1414 1317 1057 1057 6497 1218 1414 145 145 1063 1727 45 800 Z6) 1168 0 13: 114 908 145 910 495 414 130 968 1551 288 Pages Staff of Board of Governors: (Continued) Division of Administrative Services: (Continued) Lyon, John N., Accounting Clerk, salary increased 1/30 Mayhew, Morris, gardener, salary increased 3/17 McNally, James H., clerk-stenographer, resignation accepted 1/17 Resignation date changed from February 6-to January 31, 1947 1/31 Moffett, Bruce L., Operator (Duplicating Devices), salary increased 1/30 Moon, Donald W., clerk, salary increased 1/30 2/28 Moye, Audrey L., stenographer, resignation accepted Mull, Reba, clerk, salary increased 1/30 Murphy, Gertrude M., clerk-stenographer, salary increased 1/30 Transfer to Division of Bank Operations 'without change 7/30 in salary approved Murphy, Royal J., leave of absence without pay to work on marble of Arlington Memorial Amphitheatre 1/16 not approved 3/12 Marble mason, resignation accepted Nichols, Charles R., guard, salary increased 11/13 Orndoff, Sydnor C., painter, salary increased 4/ 1 Oros, Susie T., Accounting Clerk, salary increased 1/30 Palmer, Mrs.Ethelyn M., stenographer, appointment and salary approved 8/20 Peacock, Blanche E., charwoman, salary increased 11/13 Peregory, Walter L., Operator (Dup. Devices), salary 12/18 increased Pollard, W. A., Asst. Chief, Fiscal Section, salary increased 10/ 9 Poundstone, John M., Pay Roll Clerk, salary increased 10/ 9 Preble, Mildred Louise, appointment as Assistant Super12/ 3 visor of Cafeteria and salary approved Reading, Benjamin R., clerk, transfer from Division of Personnel Administration with no change 6/23 in salary approved 10/ 9 Salary increased Reamey, Dorothy, page, salary increased 4/28 7/30 Reid, Joyce S., clerk-stenographer, salary increased Richardson, Mrs. Constance Hix, charwoman, appointment on 9/11 temporary basis and salary approved Rogers, Edward D., messenger, transfer from Division of Research and Statistics without change in 7/23 salary approved 11/13 Salary increased Saieed, Pearl Mae, clerk-stenographer, appointment and 12/23 salary approved resignation J., general mechanic, Sadler, Albert accepted 8/14 Saunders, Dorothy Lee, stenographer, appointment and salary approved 7/23 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 145 413 85 153 145 145 318 145 145 1114 68 395 1551 495 145 1205 1551 1789 1414 1414 1682 968 1414 649 1114 1271 1095 1551 1821 1179 1095 289 Pages Staff of Board of Governors: (Continued) Division of Administrative Services: (Continued) Seagle, Mary S., Telegraph Operator, salary increased 4/ 1 Sharkey, Dorothy E., clerk-stenographer, appointment and salary approved 9/ 5 Shipp, Arad 13• 2 gardener, salary increased 3/17 1/30 Smallwood, Ruth M., stenographer, salary increased 10/ 9 Smoot, William E., guard, salary increased 10/ 9 Staley, Enid W., Printing Clerk, salary increased 10/ 9 Steger, Karl J., General Mechanic, salary increased 11/13 Steiner, Almeda, Charwoman, salary increased Stull, Howard 4., Chauffeur, salary increased 4/28 11/13 Sunderman, Ethel M., charwoman, salary increased Sweeney, Helen Louise, clerk, appointment on temporary 11/25 basis and salary approved Taylor, Franklin, Operator (Dup. Devices), salary 5/21 increased Thomas, Mrs. Laura K., stenographer, appointment and 5/27 salary approved Transfer to Office of Mr. Vardaman without change 7/16 in salary approved Thorne, Grace L., charwoman, salary increased 7/30 4/28 Tobler, Herman L., guard, salary increased 1/30 Tobler, Nellie Gray, elevator, salary increased Treacy, Norbert C., guard, resignation accepted upon 2/14 return from military leave Trivett, Gertrude Ellen, stenographer, appointment and 2/12 salary approved 7/30 Salary increased Tulenko, Joseph G., tabulation planner, appointment made permanent and transfer from Division of Research and Statistics without change in 7/15 salary approved increased 20 8 salary 47/3 Mail, Twomey, R. C., Supvr., Dup. and Unger, B. M., Sergeant, salary increased 4/ 1 Utz, Anna M., charwoman, salary increased Wall, Peggy Lee, Clerk-stenographer, appointment on temporary basis and salary approved 19 0/2 Warner, Robert P., Accounting Clerk, salary increased Washington, Sidney, clerk in Mr. Ransom's office, detailed to work in Duplicating and Mail Section 3/28 when not needed for Mr. Ransom Operator, duplicating devices, transfer from Office of Mr. Ransom without change in salary approved 7/ 1 1/30 Weikel, Mary A., Telephone Operator, salary increased 3/ 3 White, Barry M., laborer, resignation accepted Wiesner, Mrs. Cecile C., page, appointment on temporary 6/13 basis and salary approved Wike, Mabel Elizabeth, page, appointment on temporary 9/11 basis and salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 495 1251 413 145 1414 1414 1414 1551 649 1551 1638 774 800 1061 1114 649 145 211 204 1114 1057 11 6119t 495 la 488 999 145 321 910 1270 290 Pages Staff of Board of Governors: (Continued) Division of Administrative Services: (Continued) Wolcott, Helen B., Secretary to Mr. Bethea, salary increased Wolfe, Margaret L., secretary to Mr. Boothe, salary increased Woman receptionist, proposal re not approved Worthen, Mrs. Helen B., stenographer 1 resignation accepted Wright, Cecil, laborer, appointment on temporary basis and salary approved Wrightson, Mrs. Louise A., charwoman, appointment on temporary basis and salary approved Extension of appointment without change in salary approved Young, Elizabeth M., charwoman, salary approved Division of Bank Operations: Ball, Margaret K., clerk, salary increased Banton, Patricia June, clerk-stenographer, appointment made permanent Benson, Catherine L., clerk, salary increased Boyer, Rita S., clerk, salary increased Bryan, Evelyn, clerk, salary increased Budget of FRBanks, annual to be reviewed by Chadik, Mary Ann, clerk, salary increased Collier, Raymond J., Technical Assistant, salary increased Conkling, Gerald M., Technical Assistant, selected as representative to take courses in use of mechanical equipment Dodge, Mrs. Jane Gray, clerk-stenographer, transfer from Office of Mr. Draper with salary increase approved Farrell, John R., Technical Assistant, salary increased Ford, Dorothy H., clerk, salary increased Franzoni, John C., granted leave with pay and to be bursed for expenses for attendance at Graduate School of Banking Salary increased Garrison, Doris A., clerk, salary increased Goheen, Loretta M., Senior Clerk, salary increased Griset, Margaret, clerk-stenographer, salary increased Hurley, John J., Statistical Analyst, salary increased 'vie, Patricia B., clerk-stenographer, salary increased Johnson, Edwin J., technical assistant, appointment and salary approved Salary increased Jones, Marjorie F., Senior Clerk, salary increased Kekenes, Mary F., clerk-typist, resignation accepted Kolb, Raymond C., analyst, salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5/21 774 8/27 1218 52 1/14 )4/9 539 8/11 1164 4/29 654 6/26 3/17 985 414 7/17 1062 6/3 7/17 7/17 7/17 2/)4 11/ 7 836 1062 1062 1062 166 1534 II/ 7 1534 8/12 1168 600 1062 1534 1/30 7/17 11/ 7 7/17 II/ 7 11/ 7 II/ 7 146 1062 1534 1062 1534 1534 1534 14/3 506 11/ 7 1534 7/17 1062 6/26 985 4/23 627 291 Pages Staff of Board of Governors: (Continued) Division of Bank Operations: (Continued) Lee, Andrew W., Technical Assistant, resignation 2/25 260 accepted 97 1/22 Lipps, Jane, clerk, appointments and salary approved 11/ 7 1534 increased Salary Millea, Gerald F., analyst, appointment and salary approved / 1./ 4 1n1 Salary increased Murphy, Gertrude M., clerk-stenographer, transfer from Division of Administrative Services without change in salary 107 15 12 Salary increased approved Myrick, L. S., Assistant Director, appointment and 11/ 4 1519 salary increase approved Neill, John H., Jr., analyst, transfer to Division of Research and Statistics as Administrative 3/21 443 Assistant and salary approved 967 /23 6 Peck, Mrs. Esther G., clerk, appointment made permanent 1062 7/17 Salary increased Roberts, Mary Louise, clerk, appointment and salary 11/24 1632 approved Severud, Esther, clerk-stenographer, transfer to Division of Examinations as secretary to Mr. Sloan 4/ 9 538 and salary increase approved 7/17 1062 Skinner, Carl M., clerk, salary increased Smead, E. L.: Building needs of FRBranches, to obtain additional 5/13 714 information re defermaximum Check collection circulars, changes re ment of credit for cash items and receipt of unassorted cash items, statement to be discussed further and proposal for discussion at Presidents Conference to be submitted 7/18 1067 to Board interest if Treasury paid be to Computation of amounts rate on FRnotes established, to request 558 4/11 verification from FRBanks Condition report forms for mid-year call, memorandum 4/ 7 526 submitting for approval Fiscal agency operations as to issue and redemption of war savings bonds, transfer from branches 4/ 8 533 to head offices suggested Issue and redemption of savings bonds, transfer from 472 branches to head office, to be discussed with3/28 Mr. Bartelt at Treasury Loan fund for employees of FRBanks, memo re to be 12/15 1761 prepared by Maximum time for deferment of credit for cash items, reduction in, memo suggesting arrangement 9/30 1339 to provide for http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 292 Pages Staff of Board of Governors: (Continued) Division of Bank Operations: (Continued) ,7 1 // 52t Smith, Paul F., analyst, appointment and salary approved 1 Salary increased Trott, Sarah L., secretary to Mr. Horbett, salary 11/ 7 1534 increased ary tempor on tment appoin Turner, Carrie, clerk-typist, 1153 basis and salary approved 1475 : 8 0 ary1;2 tempor on tment appoin Van Order, Grace Lucille, clerk, basis and salary approved . Wooten, James P., accounting clerk, resignation accepted 7/29 1109 Division of Examinations: 648 4/28 Bartz, Charles H., FRExaminer, salary increased and tment appoin iner, FRExam Boggs, James Re, Assistant 2/11 200 salary approved 1273 9/17 ed Resignation accept 166 2/ 4 Budgets of FRBanks, annual to be reviewed by 139 1/28 Bugg, Lawrence H., Asst. FRExaminer, salary increased 9/ 5 1251 Clark, John F., Asst. FRExaminer, salary increased arters Cooke, R. w., Assistant FRExaminer, change in headqu 630 4/24 approved Cowger, Mrs. Anna Mae, stenographer, appointment and 5/23 793 salary approved 139 1/28 Dons, Frederick, Asst. FRExaminer, salary increased and tment Eager, Leonard P., Assistant FRExaminer, appoin 542 4/10 salary approved for tment Fisler, James V., Assistant FRExaminer, appoin 439 3/20 one year and salary approved 648 4/28 sed increa Hart, John J., Asst. FRExaminer, salary Highfield, C. R., FRExaminer, salary increased 2R 11/25 65 esignation accepted and tment appoin Howan, Conrad K., Assistant FRExaminer, 12/26 1830 salary approved 1/28 139 sed increa salary Irons, David B., Asst. FRExaminer, 1317 9/23 Resignation accepted made Jenkins, Margaret E., stenographer, appointment 5/23 793 permanent 1513 10/31 Salary increased salary Kearney, Helene L., secretary to Mr. Leonard, 1251 '/ increased . /258 sed increa 139 ar salary iner, Kenyon, Kenneth A., Asst. FRExam exfor rsed reimbu be to Granted leave with pay and penses for attendance at Graduate School of 146 1/30 Banking 9/ 5 1251 sed Kiley, John N., Jr., Asst. FRExaminer, salary increa 5 1251 9/ sed increa salary iner, Lane., Arthur H., FRExam and Lassen, W. B., appointment as assistant examiner )4/l8 605 salary approved 1/28 139 Leaman, Virginia, stenographer, salary increased r graphe -steno clerk as Office ary's Secret to Transfer 612 4/21 without change in salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 293 Pages Staff of Board of Governors: (Continued) Division of Examinations: (Continued) Leonard, R. F,2 Director: Audit of FDIC by GAO, statement re visit of Mr. 2/21 Newman ns of examinatio conduct to Authorized and directed 12/15 FRBanks for 1948 to submitted statement policy, n Bank examinatio Presidents for study before joint meeting 6/ 3 with Board by use member banks, State of Examination reports GAO, to meet with representatives of FDIC 1/17 and Comptroller of the Currency Examination reports, availability to GAO, statement re discussion with representatives of FDIC 1/27 and Office of Comptroller of the Currency FDIC practices and policy as to membership in FRSystem, 4/ 8 to work out problem with Mr. Sailor Holding company affiliates, information re, general question to be considered in preliminary 7/ 9 discussions with Mr. Sailor, FDIC 12/19 Salary increased Union State Bank, Carrizo Springs, Texas, statement 8/20 re application for membership Malone, Charles T., FRExaminer, not to be charged interest under Board Plan in Retirement System for service prior to Jan. 1, 1944 and withheld interest to be restored to account after 2/18 return from military service to accept Request for leave of absence without pay position to serve with occupation forces in Japan, not approved V/2 3 28 accepted t appointmen , McGeary, James E., Assistant FRExaminer 1/17 and salary approved 9/ 5 Salary increased in e participat to Meyer, Harry J., appointed examiner 9/30 examination of Chase Bank, New York, N. Y. 5/23 permanent made t appointmen er, Morris, Ruth E., stenograph 10/31 Salary increase approved in examiner as assignment Murff, Gordon R., FRExaminer, charge of road force and salary increase 1/21 approved FRBanks, of officers of ns affiliatio Outside business reports made by examiners during past two years to be reviewed and report to be sub3/1)i mitted to Board transSloan, Mr. to A., secretary Yarguerite Mrs. Payne, 3/17 fer with no change in salary approved 3/25 Resignation accepted http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 241 1766 836 76 117 536 1034 1808 1200 219 6Resignato n 6 84 1251 1348 793 1513 93 h04 413 461 294 Pages Staff of Board of Governors: (Continued) Division of Examinations: (Continued) 1/28 Piper, Robert L., messenger, salary increased Stenoand Porter, Nancy R., Supervisor, Recording 1/28 graphic Section, salary increased 7/29 accepted Price, Myrtle -C., clerk-typist, resignation 1/28 Schoenhoff, Robert, Asst. FRExaminer, salary imreased acresignation Schumacher, V.P., Assistant FRExaminer, 3/13 cepted insalary Scott, Frances, secretary to Mr. Millard, 9/5 creased Severud, Esther, secretary to Mr. Sloan, transfer from Division of Bank Operations and salary in4/9 crease approved 4/28 inareased salary Smith, Carl A., Asst. FRExaminer, Smith, William D., FRExaminer, appointment on temporary 6/11 basis and salary approved salary and appointment Stewart, Anne Marie, clerk, 7/30 approved 4/28 increased salary Troup, Fred W., FRExaminer, of Division to transfer , Vicars, Mary M., stenographer Research and Statistics as clerk-stenographer 2/17 without change in salary approved 3/3 accepted resignation Wells, Virginia E., clerk-typist, 4/28 Williams, George, Asst. FRExaminer, salary increased and appointment Williams, Jay W., Assistant FRExaminer, 6/19 salary approved and appointment , Zarin, Mrs. Thelma M., stenographer 4/23 salary approved 1/28 increased salary FRExaminer, Zidek, Louis W., Asst. 5/12 Resignation accepted /1 8 approved Appointment and saaary on: Division of Personnel Administrati Allen, Dwight L., Personnel Technician, salary increased 6/10 6/10 Ayers, June E., Personnel Technician, salary increased /10 increased6 salary r, clerk-stenographe Lee, Nancy Chelberg, from transfer r, clerk-stenographe I., Sylvia Clements, Secretary's Office with no change in salary 3/21 approved Crane, Betty, clerk-typist, appointment made permanent 10/28 and salary increased Huffman, Margaret C., Personnel Clerk, salary increased 10/28 8/15 Jarvis, Mrs. Ruth, maid, salary increased Johnson, Herbert, Personnel Officer, contributions to Police Boys Club to be received in office of 2/17 Census for Civil Service Retirement and Disability 9/10 Fund designated as responsible for Kilgore, J. Edward, Administrative Assistant, reinstatement and salary approved upon return from 4/3 military leave http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 139 139 1109 139 397 1251 538 648 902 1113 648 216 321 648 941 628 139 702 1127 897 897 897 443 1488 1488 1185 218 1265 506 295 Pages Staff of Board of Governors: (Continued) Division of Personnel Administration: (Continued) Lamb, Mrs. Ruth S., clerk, to be retained in active 8/12 service until retirement on October 1, 1947 Retirement effective October 1, 1947, retention in active service past age 65 due to incorrect 9/11 information re date of birth Leatherwood, Lois M., clerk-stenographer, salary increas2/6 ed Lohmann, M.R., consultant, employment on temporary basis for work on Wage and Salary Administration Plan for FRBanks approved, compensation to be on daily basis and traveling expenses to be paid 2/21 by Board Services to be continued until completion of job 7/14 evaluation program Malarkey, Mrs. Mary Virginia, clerk-typist, salary in4/3 creased Markevich, Anna J., clerk-stenographer, appointment on 7/15 temporary basis and salary approved Nelson, Mrs. Evelyn Underwood, leave clerk, resignation 1/3 accepted Nelson, Fred A: Personnel classification plans of FRBanks, meeting at FRBank of Philadelphia to discuss uniform 1/27 plan, statement re O'Connell, Mrs. Catherine E., substitute nurse, resigna1/9 tion accepted Quarforth, Elaine L., leave clerk, appointment on 6/27 temporary basis and salary approved Reading, Benjamin R., leave clerk, transfer to Division of Administrative Services as clerk with no 6/23 change in salary approved Stewart, Phyllis E., secretary to Mr. Nelson, salary in10/28 creased increased 2/6 Stone, Harry B., Personnel Technician, salary Westergren, Ruth A., Supervisor, Personnel Records Unit, 10/28 salary increased 2/6 Wickline, M. Callie, nurse, salary increased Division of Research and Statistics: Aburrow, Mrs. Margaret M., secretary to Mr. Thomas, 4/11 resignation accepted Allen, Philip T., Economist, salary increased 4/4 Arason, Mrs. Marylou, secretary to Mr. Knapp, salary increased 5/29 Arnold, Mrs. Helen B., clerk, appointment on temporary basis and salary approved 3/7 7/9 Baird, Frieda, economist, resignation accepted Banner, Paul H., economist, appointment on temporary 4/18 basis and salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1167 1270 179 236 1054 507 1058 7 125 27 990 968 1488 179 1488 179 564 518 824 350 1028 604 296 Pages StaiT of Board of Governors: (Continued) Division of Research and Statistics: (Continued) 4/4 Bean, Robert W., Economist, salary increased resignation 3/7 accepted er, -stenograph clerk Blake, Lillian, 4/3 Bocuilis, Adela, clerk, salary increased 10/3 Resignation accepted Bramlet, Phyllis, secretary to Mr. Thomas, resignation 8/5 accepted orary temp on appointment Brill, Daniel H., economist, 5/6 basis and salary approved temporary on appointment Broida, Arthur L., economist, 1/28 basis and salary approved 10/29 Salary increased Brown, Bonnar, Assistant Director, transfer from Division of Security Loans and salary increase 10/10 approved 6/27 permanent made appointment Brown, Weir, M., economist, 5/29 increased salary her, Bruderer, Doris, clerk-stenograp 6 /24 permanent made Appointment 2/7 increased salary Bulla, Beatrice, economist, 5/28 Bunce, Arthur C., economist, resignation accepted 2/7 increased salary assistant, Burgess, Caroline M., library 4/17 increased salary Cagle, Caroline H., economist, 10/29 increased salary her, clerk-stenograp Carrick, Elsie N., Carter, Beverly A., messenger, to be transferred to Division of Administrative Services as mail clerk 12/15 10/29 Chapin, Harold F., economist, salary increased temporary on appointment economist, L., Cheadle, Harold 12/4 basis and salary approved 11/20 increased salary Assistant, Research B., John Churchill, Clark, Mary T., clerk-stenographer, transfer from Division of Administrative Services without change 12/23 in salary approved 5/16 increased salary economist, H., George Cleaver, 6/24 increased salary clerk, M., Melba Coone, Cooper, Sophia, research assistant, appointment on tem7/18 porary basis and salary approved Copeland, Morris A., Special Consultant, granted leave without pay to teach at Johns Hopkins University, after discussion of Board's policy re 7/2 outside teaching connections 6/24 Crews, Esther G., clerk, salary increased resignation assistant, library Gwyn, Mary Mrs. Curtis, 8/20 accepted )4/21 accepted resignation t, clerk-typis Mercedes, Davis, Dernburg, Hans J., economic specialist, resignation ac4/11 cepted /14 2 increased salary , clerk-stenographer Doreen, Dippre, accepted 7/30 resignation clerk, M., Leila Mrs. Doebler, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 518 351 506 1368 1136 685 138 1491 1419 990 825 974 188 803 189 600 1492 1763 1492 1685 1599 1820 736 974 1075 1007 974 1205 613 56h 210 1113 297 Pages Staff of Board of Governors: (Continued) Division of Research and Statistics: (Continued) Duarte, Genevieve Gilardi, clerk, appointment made per6/24 menent 2/7 Dyer, Helen R., library assistant, salary increased 2/7 Ernst, Rosa, research assistant, salary increased 11/20 Evans, Ethel L., clerk, salary increased 2/7 Exter, John, economist, salary increased India, Return from Manila via Hong Kong, Siam, and Europe approved, Board to share ex4/15 penses with State Department from trip return Letter of introduction for use on 4/16 Philippines and Europe and Return trip from Manila via Pacific 4/16 expenses authorized Philippine to trip Expense account as result of 8/12 Islands approved -Philippine America joint Report of work as member of 8/20 Financial Commission of n organizatio in To assist Philippine Government central bank, assignment for three months and 12/19 travel expenses approved of Republic to trip Advance of funds for official 12/23 Philippines approved on temporary appointment Fauteux, Blanche D., clerk, 6/10 basis and salary approved 9/12 Resignation accepted temporary on appointment Fauver, Clarke L., economist, 12/4 basis and salary approved stateof, status years, Forecast of work for next five 3/7 ment of Mr. Evans re 2/14 increased salary Fowler, Gretchen Hill, clerk, on appointment assistant Fox, Charles E., Jr., research 9/18 temporary basis and salary approved 10/29 increased salary economist, Frase, Eleanor S., 9/8 Frey, Mrs. Ann B., clerk-typist, resignation accepted 4/10 increased salary economist, Herbert, Josef Furth, 6/6 increased salary clerk, L., Margaret Garber, Garrick, Anna E., clerk-stenographer, appointment on 3/19 temporary basis and salary approved 9/29 Resignation accepted 4/10 increased salary economist, Clayton, Gehman, Gerschenkron, Alexander, Chief of Foreign Areas Section, granted official leave to deliver three 4/3 lectures in Berkeley, California Delegate to meeting of Inter American Statistical 5/22 Institute Gilman, Laura M., economist, appointment on temporary 11/19 basis and salary approved Goidenweiser, E. A., consultant, services to be continued until end of 1948, further retention to be considered in connection with annual bud10/3 get http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 975 189 188 1599 188 572 592 591 1167 1204 1808 1820 896 1273 1685 3143 210 1281 1492 1254 542 858 422 1336 542 505 777 1594 1364 298 Pages Staff of Board of Governors: (Continued) Division of Research and Statistics: (Continued) Goldenveiser, E. A., (Continued) To assist with Board's work on present legislative program, compensation and per diem approved 11/26 4/3 clerk-typist, salary increased M., Gough, Joan 6/24 permanent made Appointment Green, Anna Grace, clerk, granted leave of absence with6/3 out pay because of illness 11/20 Salary increased 12/22 Resignation accepted approved, instrucEcuador to mission L., Grove, David 3/7 tions re, per diem increased Ecuador to trip for funds of advance Economist, 3/14 approved Delegate to meeting of Inter American Statistical 5/22 Institute Request for services in connection with study of 5/19 fiscal system of El Salvador, not approved Decoration from Ecuador for services, to be tendered through State Department, advice re 6/26 6/13 Extension of stay in Ecuador authorized Expense account in connection with trip to 8/18 Ecuador approved Request for services in connection with fiscal reform program of El Salvador, not possible 8/4 to grant Statement re work as consultant to Government of 8/20 Ecuador Granted National Order of Merit, with rank of Officer, by Government of Ecuador, decoration to be held in custody of State Department 11/5 at present To assist Philippine Government in organization of central bank, assignment for three months 12/19 and travel expenses approved Advance of funds for official trip to Republic of Philippines 12/23 4/4 Grunwell, Helen R., Chief Draftsman, salary increased Haberler, Gottfried, consultant, arrangement for 10/3 services discontinued 5/29 Halvorsen, Ruth J., clerk, salary increased Hansen, Alvin, consultant, arrangement for services dis10/3 continued Hardy, William E., messenger, transfer from Division of Administrative Services with salary in8/13 crease approved Harloff, Mrs. Moynelle E., clerk-stenographer, transfer from Division of Administrative Services with6/12 out change in salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1672 506 9714 835 1599 1817 341 410 777 744 986 909 1191 1132 1205 1527 1808 1820 518 1364 825 1364 1171 904 .299 Pages Staff of Board of Governors: (Continued) Division of Research and Statistics: (Continued) Hart, Richard F., research assistant, appointment made per6/27 manent 6/10 Salary increased 8/21 Resignation accepted 11/20 increased salary Secretary, B., Tressa Hemminger, Hempstead, Mrs. Evelyn L., clerk-stenographer, salary 6/24 increased 10/14 accepted resignation economist, Paul, Hermberg, 4/10 Hersey, A. B., economist, salary increased Hinshaw, Randall W., economist, appointment and salary 7/16 approved To be assigned to task of working with Herter Committee in compiling material re determination 9/26 of foreign policy Hirschman, Albert O., economist, appointment made 6/27 permanent 9/10 Salary increased 2/7 Hodge, Verna L., library assistant, salary increased 6/24 Hodson, Viola A., clerk, salary increased Holthausen, Duncan McC., economist, appointment made 6/27 permanent 6/10 Salary increased Hopkins, Ernest J., Economic Specialist, resignation 1/27 accepted after discussion at Board meeting Hurley. A. Regina, clerk-stenographer, appointment made 6/24 permanent 11/20 Salary increased IBM equipment, to be leased on continuing basis and responsibility of operation to be transferred 7/15 to Division of Administrative Services and basis Ingram, Lois, clerk, appointment on temporary 6/13 salary approved 5/16 Jaffy, Florence, economist, salary increased basis temporary Johnson, Anne W., clerk, appointment on 6/13 and salary approved temporary on Jones, Mrs. Monica F., clerk, appointment 8/5 basis and salary approved on appointment Kane, Dorothy J., clerk-stenographer, 9/12 temporary basis and salary approved appointment assistant, Kelenson, Mrs. Dora Ann, research 10/13 on temporary basis and salary approved on appointment assistant, Kiehn, Otto G., Jr., research 5/23 temporary basis and salary approved 5/16 increased Klaman, Saul B., economist, salary 6/27 Appointment made permanent American Inter of to meeting Knapp, J. Burke, delegate 5/22 Statistical Institute http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 990 897 1208 1599 974 1428 542 1060 1333 990 1264 189 974 990 897 117 974 1599 1057 908 736 909 1136 1272 1426 793 736 990 777 300 Pages Staff of Board of Governors: (Continued) Division of Research and Statistics: (Continued) Knapp, J. Burke: (Continued) Authorized to attend conference of International Monetary Fund and International Bank for Reconstruction and Development in London and to visit other countries in Europe, to be accompanied by another member of staff if 6/20 necessary in judgment of Chairman Eccles Govof Boards of Meeting Trip to London to attend ernors of International Fund and Bank and to visit central banks in Europe, advice 8/1 to FRBank of New York and London to trip during 315 Granted per diem of Western Europe and advance of $750 for 8/27 trip after approved increase salary Assistant Director, discussion of services in connection with 11/4 National Advisory Council with n connectio in expenses for Additional payment 12/19 conference in London approved permade nt, appointme , clerk-typist C., Lacey, Beverly 6/24 manent 9/16 increased Salary Office from transfer her, Stenograp Virginia, Lambert, of Mr. Vardaman without change in salary 4/11 approved 10/29 increased Salary Levinson, Sylvia research assistant, appointment on 6/24 temporary basis and salary approved Lichens, Dorothy J., clerk, appointment made perma6/24 nent , 10/29 Salary increased Lichtenberg, Caroline, research assistant, appointment 8/14 ' on temporary basis and salary approved made Loyd, Geraldine, clerk-stenographer, appointment 6/24 permanent 7/23 Salary increased ' 12/3 Resignation accepted Lupton, Helen A., Assistant Chief Draftsman, salary 4/4 increased infor nt appointme t, Consultan A., Lutz, Friedrich definite period and daily compensation , approved, travel expenses to be paid by 3/6 Board end ) of 1948 until be continued to Services further retention to be considered in 10/3 connection with annual budget MacLean, Lucile R., library assistant, appointment 6/24 made permanent 11/20 Salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 959 1129 1217 1520 1811 974 1275 563 1492 973 975 1492 1179 974 1094 1681 518 338 1364 975 1598' 301 Pages Staff of Board of Governors: (Continued) Division of Research and Statistics: (Continued) Maroney, Mary M., economist, granted leave without pay to accompany sister to International Trade and Employment Conference at Geneva, 3/28 Switzerland Marshall Plan for assistance to European countries, participation of members in work connected 7/11 with approved after discussion 7/1 McCloud, Mrs. Lyndall C., economist, salary increased 4/4 McCormick, Mary P., Draftsman, salary increased McDonald, Mary E., clerk-stenographer, appointment made 6/24 permanent 10/29 Salary increased McHone, Margaret R., draftsman, appointment; made 6/24 permanent 9/16 Salary increased McInturff, Helen V., clerk-typist, appointment made 6/24 permanent 7/24 Salary increased 4/4 Melanson, Cecil, Draftsman, salary increased and on transportati Metzler, Lloyd A., former employee, salary approved in connection with checking of paper on "Exchange Rates and the Inter6/4 national Monetary Fund" temporary on appointment Miller, Mary Florence, clerk, 4/18 basis and salary approved tempoon appointment Miller, Merton Howard, economist, 8/1 rary basis and salary approved increased 5/16 salary Morelle, Wilellyn, economist, return after reemployment (Mrs. L. Jay Atkinson), 11/17 from maternity leave approved repreBoard's as Morse, Chandler, to be designated sentative to participate in joint U. S. 6/12 Canadian "working party" accepted /5 9 Director Resignation as Assistant as resignation after Appointment as consultant Assistant Director, discussion, memo re to 10/3 be rewritten and , compensation Appointment, as consultant, traveling expenses approved until end of 1948, question of further retention to be 10/31 raised in connection with annual budget basis temporary on Morse, M. Elva, clerk, appointment 3/7 and salary approved 4/17 increased salary Moss, Milton, economist, 11/20 Murphy, Mary, clerk-typist, salary increased connecin services for request Richard A., Musgrave, tion with study of fiscal system of El 5/19 Salvador, not approved refiscal with in connection services for Request form program of El Salvador, not possible 8/4 to grant http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 487 1042 999 518 974 1491 975 1275 975 1098 518 846 605 1126 736 1564 905 1250 1362 1512 350 600 1599 744 1132 302 Pages Staff of Board of Governors: (Continued) Division of Research and Statistics: (Continued) Musgrave, Richard A.: (Continued) Chief of Government Finance Section, resignation 9/26 accepted at expiration of annual leave to be consultant Recommendation re appointment as 10/3 submitted and n, compensatio Appointment as consultant, traveling expenses approved until end of 1948, question of further retention to be 10/31 raised in connecticn with annual budget for Committee To prepare analysis of statement by Economic Policy on "Taxes and the Budget", 11/10 traveling expenses and per diem approved conference annual To prepare report for Board re of National Tax Association at Miami, Fla., terminal leave to be extended two days, 11/13 travel expenses not to be paid by Board transAssistant, ive Neill, John H., Jr., Administrat fer from Division of Bank Operations and 3/21 salary approved 11/20 increased salary Assistant, Nelson, Elsie T., Research 2/4 Nikonenko, Mrs. Maria, clerk, resignation accepted 2/7 increased salary Nixon, Florence Guild, economist, disMusgrave, Mr. succeed to Oakes, Eugene, appointment cussion, no objection to outside teaching 10/21 activities, Mr. Thomas to negotiate with temporary on appointment clerk, Offutt, Mary Gertrude, 1/30 basis and salary approved temporary on appointment economist, Olson, Ernest C., 3/3 basis and salary approved accepted 4/4 resignation Painter, Mary S., economist, 2/14 Racz, Mrs. Winofred, clerk, salary increased 4/21 increased salary Reehling, Ruth H., clerk, 11/20 Reed, Samie, messenger, salary increased granted Young, Mr. to secretary Reeves, Mrs. Dorothy D., leave of absence without pay for six months 10/8 4/4 Reil, Katharyne P., economist, salary increased of system fiscal of study Rennie, Robert A., economist, 5/19 El Salvador, possibility of assignment for /27 6 Appointment made permanent /24 6 Salary increased termination upon Rice, Violet M., resignation accepted 2/26 of military leave 11 /20 increased salary Richards, Louise, clerk-typist, appointdraftsman, Steckerl), Fritz Riley, Wilma N. (Mrs. 7/14 ment on temporary basis and salary approved increased 4/29 salary economist, Mary Jane, Roberts, Mrs. 10/20 accepted Resignation 6/24 Robinson, Harvey A., clerk, salary increased of Division to transfer messenger, D., Rogers, Edward Administrative Services without change in 7/23 salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1333 1364 1512 1540 1550 443 1599 173 188 1464 144 320 519 210 613 1599 1406 518 744 990 974 262 1599 1054 654 1453 974 1095 303 Pages Staff of Board of Governors: (Continued) Division of Research and Statistics: (Continued) Rose, Cornelia B., Jr., (Mrs. Laszlo Ecker-Racz), economist, appointment on temporary basis for one year and salary approved Ryhal, Rita I., clerk, appointment on temporary basis and salary approved Sahm, Grace R., Draftsman, salary increased Schelling, Nancy, research assistant, salary increased Resignation accepted Schweiger, Irving, economist, appointment made permanent Salary increased Sette, Elizabeth B., economist, salary increased Shepherd, Ileen C., clerk, salary increased Sherrard, Alfred, economist, appointment made permanent Sigel, Stanley, economist, appointment on temporary basis and salary approved Smith, Thomas Lee, economist, appointment made permanent Solomon, Robert, economist, appointment on temporary basis and salary approved South, Dorothy I., economist, appointment made permanent Salary increased Stanley, Betty Ann, clerk, salary increased Appointment made permanent Stettner, Walter F., economist, salary increased Loan of services requested by Canadian Government, but not possible at present, advice to Mr. T. C. Douglas Stohlman, Mae J., clerk-stenographer, appointment made permanent Salary increased Stone, Mrs. Ruth D., secretary to Mr. Brown, transfer from Division of Security Loans without change in salary approved Sutherland, Alvern H., librarian, salary increased Tamagna, Frank M., economist, appointment and salary approved Taylor, Alice M., clerk, salary increased Thomas, Woodlief, survey re consumer spending plans requested by Council of Economic Advisers, statement re To be named head of delegation to meeting of Inter American Statistical Institute on September 6-18 Thompson, Orville K., economist, salary increased Selection as representative to take courses in use of mechanical equipment Thorne, Wendell E., Administrative Assistant, salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3/13 397 1/30 144 518 4/4 4/29 654 8/14 1179 6/27 990 897 6/10 10/29 1492 825 5/29 6/27 990 8/15 1184 6/27 990 12/11 1733 6/27 990 11/20 1599 825 5/29 6/24 975 824 5/29 11/25 1639 6/24 6/24 974 974 10/17 1450 2/7 189 1/28 4/21 138 613 5/29 818 5/22 5/29 777 824 8/12 1168 2/7 188 304 Pages Staff of Board of Governors: (Continued) Division of Research and Statistics: (Continued) Townsend, Elva H., clerk, appointment made permanent Salary increased Trueblood, Lorman C., economist, salary increased Truitt, June A., clerk-stenographer, appointment on temporary basis and salary approved Tulenko, Joseph G., tabulation planner, appointment on temporary basis and salary approved Extension of appointment for 8 months without change in salary approved Appointment made permanent and transfer to Division of Administrative Services without change in salary approved Valentine, Mrs. Franc S., clerk-stenographer, appointment and salary approved Vandoren, Patricia Anne, clerk-stenographer, appointment on temporary basis and salary approved Salary increased Vicars, Mary M., clerk-stenographer, transfer from Division of Examinations without change in salary approved Salary increased Ward, Thelma E., clerk, salary increased Weaver, Mary Frances, clerk, salary increased Weiner, Louis, economist, appointment on temporary basis and salary approved in spite of failure to pass usual physical examination Wernick, Murray S., economist, salary increased White, Mary, clerk, salary increased Wilkinson, Mary R., clerk, appointment made permanent Salary increased Wirth, Eleanor, clerk-stenographer, assignment to American-Philippine Financial Commission approved, travel expenses and per diem to be paid by State Department Extension of official leave for work with AmericanPhilippine Financial Commission approved Salary increased Resignation accepted Wood, Ramsay, economist, salary increased Wright, Mrs. Dorothy V., clerk-typist, appointment on temporary basis and salary approved Young, Ralph A., title changed to Associate Director and salary increased C. Richard, economist, salary increased Youngdahl, Loans: Security Division of messenger, salary increased H., Otto Branic, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/24 r 5g 19 4/30 11/5 660 1527 1/27 129 4/28 647 7/15 1057 12/12 1743 330 3/5 11/20 1598 216 2/17 9/24 1321 10/29 1492 974 6/24 8/14 1178 908 6/13 6/24 974 975 6/24 11/20 1599 1/10 33 776 5/22 6/24 974 12/10 1730 660 4/30 2/25 259 12/19 6/10 1807 897 4/11 565 305 Pages Staff of Board of Governors: (Continued) Division of Security Loans: (Continued) Brown, Bonnar, Assistant Director, transfer to Division of Research and Statistics as Assistant Director and salary increase approved Schmidt, Catherine L., Secretary, salary increased Stone, Ruth D., secretary, salary increased Secretary to Mr. Brown, transfer to Division of Research and Statistics without change in salary approved Swindlehurst, Alice, clerk, salary increased Salary increased Elevator operators: Bigler, Sandra, salary increased Resignation accepted Glover, Mrs. Hazel M., appointment on tempo'rary basis and salary approved Appointment on temporary indefinite basis with no change in salary approved Lewis, Evelyn, salary increased Tobler, Nellie Gray, salary increased Employees separated by reduction in force, report sent to House Committee on Post Office and Civil Service Group life insurance, increase in amount available and other changes discussed Guards: Anderson, E. F., sergeant, retirement effective March 1, noted Bertol, Louis N., Captain, salary increased Cook, Thomas G., salary increased Deakins, Thomas R., salary increased Faust, Ralph L., resignation accepted Florea, Hiram H., appointment on temporary basis and salary approved V., salary increased Adam Hauser, sergeant, salary increased W., Lee Langham, salary increased R., Charles Nichols, by Mr. Eccles suggested number in Reduction increased salary E., William Smoot, Tobler, Herlan L., salary increased Treacy, Norbert C., resignation accepted upon return from military leave sergeant, salary increased M., Unger, B. Laborers: Carter, Robert, salary increased Dinkins, Benjamin L., appointment on temporary basis and salary approved Hardy, William E., transfer to Division of Research and Statistics as messenger and increase in salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10/10 1419 565 4/11 565 4/11 10/17 1450 565 4/11 11/20 1599 3/17 3/25 414 462 4/15 581 10/15 1432 3/17 414 1/30 145 2/26 262 7/11 1040 2/4 8/27 11/13 7/30 12/17 173 1218 1551 1113 1784 9/9 11/13 6/13 11/13 1/14 10/9 4/28 1261 1551 910 1551 53 1414 649 2/14 4/28 211 649 7/30 1114 10/8 1407 8/13 1171 306 Pages Staff of Board of Governors: (Continued) Laborers: (Continued) 10/9 1414 Johnson, Sven, Foreman, salary increased and basis rary Kennely, Marion, appointment on tempo 7/22 1090 ved appro y salar s two month for t Extension of temporary appointmen 9/26 1334 without change in salary approved 321 3/3 White, Barry M., resignation accepted y salar and basis Wright, Cecil, appointment on temporary 8/11 1164 approved en betwe ssion discu Leaks of information re matters under to staff Treasury and Board or FOMC, statement 7/2 1013 Board of ess on confidentiality of busin Loans of employees: countries, partiMarshall Plan for assistameto European of Research ion Divis cipation of members of with approved cted conne and Statistics in work 7/11 1042 after discussion ssion submi ving invol Participation in special projects ssion of of statement or memorandum as expre Board re requi to Board's views or position 7/11 1042 approval nGover ian Canad by Stettner, W. F., services requested e to ment, but not possible at present, advic 11/25 1639 Mr. T. C. Douglas Messengers: 565 4/11 Branic, Otto H., salary increased 962 6/20 Brown, Fletcher E., salary increased basis rary tempo on t Bundy, Herbert William, appointmen 7/17 1062 and salary approved of ion Divis to Carter, Beverly A., to be transferred 12/15 1763 Administrative Services as mail clerk August 1, Dyson, Seaton, retirement to be effective 1022 7/3 1947, noted Research and Hardy, William E., transfer to Division of istrative Admin of ion Statistics from Divis 8/13 1171 ved appro ase incre Services and salary e in Offic Harris, Melvin, appointment on temporary basis 6/27 990 ved appro y salar of Mr. Clayton and 139 1/28 Piper, Robert L., salary increased 0 1599 11/2 Reed, Samie, salary increased Administrative Rogers, Edward D., transfer to Division of StatisServices from Division of Research and 117/23 tics without change in salary approved 5 159 /B 0 Salary increased of reduction Services, regulations in connection with members Board to sent be to s expenses, copie 428 3/20 and senior staff 351 3/7 Aiken Number of employees, report sent to Senator http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 307 Pages Staff of Board of Governors: (Continued) Nurses: O'Connell, Mrs. Catherine E., substitute nurse, 1/9 resignation accepted 2/6 increased salary Callie, WIckline, M. Office of the Chairman: Egbert, Va Lois, secretary, granted sick leave, not to be charged to sick leave subsequently accruing 1/3 Thurston, E. T., to prepare statement on termination of 10/21 Regulation W Office of Mr. Clayton: Bundy, Herbert William, messenger, appointment on tempo7/17 rary basis and salary approved temporary on appointment messenger, Melvin, Harris, 6/27 basis and salary approved Draper: Office of Mr. Deliatorre, Mrs. Mary V., stenographer, transfer from Division of Administrative Services without 6/3 change in salary approved Division to transfer , stenographer Gray, Jane Mrs. Dodge, of Bank Operations as clerk-stenographer with 4/17 salary increase approved Ransom: Office of Mr. Washington, Sidney, clerk, detailed to work in Duplicating and Mail Section of Division of Administrative Services when not needed for Mr. 3/28 Ransom Transfer to Division of Administrative Services as operator, duplicating devices, without 7/1 change in salary approved Office of Mr. Szymczak: Kinney, Theodosia M. A., stenographer, appointment on 4/15 temporary basis and salary approved 7/11 Salary increased 11/10 Appointment made permanent 7/11 Newcome, Elnyr D., secretary, salary increased Office of Mr. Vardaman: 6/20 Brown, Fletcher E., messenger, salary increased Lambert, Virginia, stenographer, transfer to Division of Research and Statistics without change in 4/11 salary approved Thomas, Mrs. Laura K., stenographer, transfer from Division of Administrative Services without 7/16 change in salary approved 12/12 Salary increased Outside business relations: Annual statement to be submitted re, Personnel Commit10/21 tee to submit procedure for http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 27 179 7 1459 1062 990 836 600 488 999 581 1051 1:5140 1051 962 563 1061 1743 1465 308 Pages Staff of Board of Governors: (Continued) Outside business relations: (Continued) Copeland, Morris A., Special Consultant, granted leave without pay to teach at Johns Hopkins University, after discussion of Board's policy re outside teaching connections Employees in Group M and above, procedure and form for annual reports approved Pages: Bare, Edith, salary increased Boucher, Anna Mae, salary increased Resignation accepted Duckett, Vivian R., appointment on temporary basis and salary approved Keefe, Mrs. Josephine B., appointment and salary approved Resignation accepted Kidd, Marjorie, salary increased Transfer to Secretary's office as file clerk without change in salary approved Reamey, Dorothy, salary increased Wiesner, Mrs. Cecile C., appointment on temporary basis and salary approved Wike, Mabel Elizabeth, appointment on temporary basis and salary approved Positions, full-time with salary rates of $9975 or more, forms sent to Mr. Baruch, Civil Service Commission Retirements in official staff, problems re successors and possible changes to be studied by Personnel Committee and recommendations to be submitted to Board later Secretary's Office: Allred, Frances K., file clerk, salary increased tempoBates, Cornelia Anne, file clerk, appointment on d approve salary and basis rary Appointment made permanent Beale, Loretta D., file clerk, salary increased Beeson, Adaline R., file clerk, salary increased ed Brennan, John C., General Assistant, salary increas Brow, Lillie L., file clerk, salary increased Burton, Frances A., file clerk, salary increased Carpenter, S. R., Secretary, salary increased ed Clements, Sylvia I., stenographer, salary increas Transfer to Division of Personnel Administration as clerk-stenographer without change in salary approved E., file clerk, salary increased Helen Cook, Elsie Q., file clerk, appointment on tempoMrs. Davis, rary basis and salary approved Appointment made permanent http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/2 1007 11/24 1632 8/27 1218 8/27 1218 10/24 1478 6/5 851 1/13 5/27 4/28 45 800 649 6/13 4/28 908 649 6/13 910 9/11 1270 10/10 1418 5/13 720 4/3 505 7/23 12/18 4/3 4/3 7/11 4/3 6/13 12/19 2/6 1094 1788 505 505 1051 505 908 1808 179 3/21 6/13 443 908 7/1 12/18 998 1788 309 Pages Staff of Board of Governors: (Continued) Secretary's Office: (Continued) Derr, Mrs. Marion H., file clerk, appointment made permanent 3/3 9/5 Salary increased Devlin, Jeanette Elizabeth, file clerk, appointment 8/8 on temporary basis and salary approved 12/1E Appointment made permanent Farrington, Mrs. Pearl E., file clerk, appointment on temporary basis and salary approved 7/1 12/18 Appointment made permanent Fitzgerald, Mrs. Frances, General Assistant, granted extension of leave Nithout pay to September 5/8 1, 1948, at which time she will, retire Goepfert, Mabel, secretary to Mr. Carpenter, salary 2/7 increased 9/2J2 Grimwood, Gordon B., clerk, salary increased Haltigan, Helen A., file clerk, extension of leave without pay for three months approved 4/9 7/16 Resignation accepted 6/13 Hatch, Cora L., file clerk, salary increased Jeffries, Ardith Elaine, file clerk, appointment on temporary basis and salary approved 5/29 9/10 Resignation accepted Jones, M. Elizabeth, Supervisor, File Clerks, salary increased 4/3 Kelly, Mrs. Dorothea B., file clerk, appointment made 3/3 permanent 10/6 Resignation accepted Kidd, Marjorie, file clerk, transfer from Division of Administrative Services without change in 6/13 salary approved Leaman, Virginia, clerk-stenographer, transfer from Division of Examinations without change in 4/21 salary approved List of reading material received to be sent to Board members and material then to be sent upon request, procedure suggested by Chairman 7/11 Eccles approved McCutchan, Mrs. Marjorie B., file clerk, resignation 5/2 accepted McGarvey, Margaret M., file clerk, resignation accepted 1 /27 Meiser, E. Katharine, secretary to Mr. Hammond, salary 7/11 increased Mercer, Esther M., clerk-stenographer, resignation accepted 4/14 Mitchell, Mrs. Madge M., file clerk, resignation accepted 4/21 Moister, Mrs. Margaret Jordan, file clerk, appointment on temporary basis and salary approved 6/23 12/18 Appointment made permanent http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 320 15:50 1152 17?8 998 1788 690 188 1281 538 1060 908 824 1264 505 320 1372 908 612 1044 673 129 1051 570 612 967 1788 310 Pages Staff of Board of Governors: (Continued) Secretary's Office: (Continued) 4/3 Pagenkopf, Myrtle J., file clerk, salary increased 10/10 Resignation accepted 4/3 Pilger, Mildred E., file clerk, salary increased ed increas salary /9 7 Pye, Mrs. Hazel H., file clerk, tempoon ent appointm Searcy, Martha Helen, file clerk, 10/8 rary basis and salary approved insalary ry, Secreta Sherman, N. Merritt, Assistant 11/4 creased 4/21 accepted ion resignat Simpson, Hazel Lee, file clerk, ry tempora on ent appointm Sullivan, Mary W., file clerk, 10/14 basis and salary approved ry tempora on ent appointm Wasnetsky, Mary, file clerk, 5/29 basis and salary approved 7/2 Resignation accepted Watson, Mrs. Mary H., file clerk, to be retained in active service for 1947, after reaching 1/8 retirement age on June 8, 1947 Continuation in active service through June 30, 11/19 1948, approved 6/13 Yates, Aline L., Index Clerk, salary increased Separations from service: Akers, Mrs. Dorothy H., cafeteria helper, approved, reimbursement for overdrawa leave to be 5/20 obtained 9/10 ed terminat ment an, appoint charwom L., Attie Mrs. Deskin, Subversive activities, information on employment or dismissal of Board personnel sent to Department 1/9 of Justice of ration administ Technical Committee to assist Treasury in section of Tariff Act of 1930, letter from 1/27 Mr. Sproul on service of staff on Telegraph Operators: 4/1 Ball, L. L., Assistant Supervisor, salary increased from return upon Buckley, Thomas N., reinstatement 1/27 military leave and salary approved 7/30 ed Flagg, M. P., salary increas 4/1 Seagle, Mary S., salary increased Telephone Operators: 12/18 Griffith, Flora J., Chief Operator, salary increased 4/28 d increase salary Johnson, Mary E., 1 /30 ed salary increas Weikel, Mary A., in approved be to of division office Transfer to another advance unless for brief periods, salary to be charged to office or division where work3/20 ing for any length of time 1/14 not re approved proposal onist, Woman recepti of Starr, Louis E., veterans housing projects, effectiveness Senator S. 408, reply to letter sent to 5/2 Tobey http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 505 1419 505 1027 1405 1519 612 1428 823 1015 22 1594 908 747 1265 27 135 495 130 1114 495 1789 649 145 427 52 677 311 Pages State Department: be tendered Decoration from Ecuador to Mr. Grove must 6/26 through State member banks: cation for Alabama Exchange Bank, Tuskegee, Alabama, appli 5/19 membership approved al n capit commo Amalgamated Bank of New York, reduction in stock approved by FRBank of New York, action 1/24 ratified by Board rmembe for n catio appli American State Bank, Mackay, Idaho, ship approved, no cash dividends to be paid On common stock for first three years and fixed assets to be depreciated at maximum 5/28 rates allowable for income tax purposes : ornia Calif American Trust Company, San Francisco, and Establishment of branch at Alhambra Boulevard ornia, Calif , mento Sacra t, Broadway Stree 1/29 approved Verde Establishment of branch at Geneva Avenue and Rio ornia Calif y, Count Mateo San Street, 3/19 approved , Establishment of branch in San Bruno, California 4/4 ed approv , ornia , Calif Pablo San in branch Establishment of 4/25 approved , ornia y, Calif Valle Mill in h branc of Establishment subject to purchase of assets of Mill Valley 5/12 Bank, Mill Valley, California, approved , Creek t Extension of time to establish branch in Walnu 5/26 California, approved , ornia Calif Establishment of branch in Sunnyvale, 6/16 approved bra Alham Extension of time to establish branch at mento, Boulevard and Broadway Street, Sacra 7/2 California San in branch Granted extension of time to establish 8/14 Bruno, California in branch ish Granted extension of time to establ 8/14 San Pablo, California e Avenu a Genev at Temporary establishment of branch and Rio Verde Street, San Mateo County, California, approved in connection with 10/15 Grand National Livestock Exposition h branc of ent lishm estab Extension of time granted for 10/31 in Sunnyvale, California at branch lish to estab ed Extension of time grant Alhambra Boulevard and Broadway Street, 11/14 Sacramento, California http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 986 743 111 803 141 423 519 637 704 798 925 1016 1182 1182 1433 1515 1556 312 Pages State member banks: (Continued) Annapolis Bank and Trust Company, Annapolis, Md., information in report of examination desired by Treasury Intelligence Unit, request to be submitted in accordance with approved 2/25 procedure hip members for tion Bank of Bluffs, Illinois, applica 1/2 approved and waived notice Bank of Chestnut, Illinois, six months application for immediate withdrawal from membership approved, termination to coin12/11 cide with acceptance for insurance by FDIC nce continua for examine to Permission granted to FDIC of insurance after withdrawal from membership (See files) Bank of Commerce, Newark, New Jersey, application for membership approved, subject to condition re paid up and unimpaired capital stock, trust powers not to be exercised without per4/30 mission of Board ces acceptan a, Virgini d, Richmon Trusts, and Bank of Commerce up to 100% of capital and surplus, authority 4/9 rescinded memberof value re article ee, Tenness lle, Hartsvi Bank of ship in FRSystem, letter to Miss Hammock, 8/28 President and Cashier to Bank of Houston, Missouri, granted extension of time 1/29 accomplish membership hip members Bank of Leighton, Alabama, application for approved, to be entitled to benefits of deposit insurance under provisions of Section 7/31 12B of FRAct hip members Bank of Meeker, Oklahoma, application for approved, losses to be eliminated, manage3/27 ment procedure to be improved hip members for ion Bank of Rhame, North Dakota, applicat approved, number of directors to be in9/23 creased to not less than five no hip, members sh accompli to time Granted extension of objection to admission with only three directors, number to be increased as re10/21 quired later 12/2 hip members ish accompl to time of on Granted extensi Bank of Sheridan, Montana, question of resolving management satisfactorily, to be held in abeyance for discussion at Presidents Conference if agreement not reached at FRBank of 2/20 Minneapolis No objection to admission to membership with present management, after discussion with FDIC, ex3/4 tension of time granted to complete http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 254 4 1735 661 540 1229 141 1123 467 1318 1469 1679 227 326 313 Pages State member banks: (Continued) Bank of Westchester, Yonkers, N. Y., proposed absorption by County Trust Company, White Plains, N. Y., through merger with Washington Irving Trust 1029 7/9 Company, Port Chester, N. Y. for reeligibility City, Bankers Trust Company of New York discount by FRBank of notes of Central Bank for Cooperatives, permission of Board not 489 3/28 required to FRBanks of Presidents Banking quarters, authority of approve proposed investments submitted under conditions of membership broadened, 2/11 201 advice to FRBanks Bar Harbor Banking and Trust Company, Bar Harbor, Maine, 11/14 1555 penalty for deficiency in reserves waived applicaLouisiana, Bastrop, Company, Trust & Bastrop Bank 2/6 179 tion for membership approved Bell Gardens Bank, Bell Gardens, California, application for membership approved, three months allowed 523 4/7 for accomplishment of membership 675 5/2 Certification to FDIC as member of FRSystem Blackshear Bank, Blackshear, Georgia, application for mem1/29 140 bership approved Boswell State Bank, Boswell, Oklahoma, application for 4/22 616 membership approved Bridgeport-City Trust Company, Bridgeport, Conn., penalties 3/21 444 for deficiencies in reserves waived Bronxville Trust Company, Bronxville, New York, application for membership approved, subject to charge 5/23 794 off of estimated losses Citizens and Farmers Trust Company, Adams, N. Y., merger with Northern New York Trust Company, Watertown, N. Y., and establishment of 439 3/20 branch in Adams for application Citizens Bank of Cape Vincent, New York, 12/15 1764 membership approved memberfor application Citizens Bank, Colquitt, Georgia, ship approved, excess balances in nonmember banks to be reduced to within statutory 1/17 86 limits application Carolina, South of Darlington, Bank Citizens for membership approved, subject to charge off of estimated losses, practice re withdrawal of savings deposits to conform with 107 1/24 regulations Citizens Bank of Saline, Michigan, application for member8/28 1228 ship approved Citizens Bank, Savannah, Tennessee, application for membership approved, additional powers not to be 353 3/7 exercised without permission of Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 314 Pages State member banks: (Continued) Citizens Banking Company, Celina, Ohio, application for membership approved, savings accountsto be brought into conformity with law and corrective action re loans in violation of Regula3/7 tion U to be taken hip members for ion applicat Texas, Anton, Bank, Citizens State 8/29 approved from al withdraw in, Wiscons Wausau, Bank, Citizens State FRSystem advised by FDIC representative, 2/7 letter to FDIC protesting such practices memberCitizens State Bank, Ysleta, Texas, application for ship approved, additional powers not to be exercised without permission, three months 3/27 given to accomplish membership. m 5/5 Certification to FDIC as member of FRSyste of e purchas Ohio, City Trust and Savings Bank, Youngstown, assets and assumption of deposits by Dollar Savings and Trust Company, establishment of branch in Campbell, Ohio, approved subject to 7/25 Cleo State Bank, Cleo Springs, Oklahoma, application for membership approved, subject to condition re 1/15 paid-up and unimpaired capital to n objectio no Penna., Colonial Trust Company, Pittsburgh, purchase of assets and assumption of liabi3/4 lities of Carrick Bank, Pittsburgh ent investm nal Commerce Guardian Bank, Toledo, Ohio, additio in banking quarters for opening of branch 1/27 approved converupon approved Application for fiduciary powers sion into Commerce National Bank of Toledo, 5/6 Ohio hip members for tion applica Commercial Bank of Delta, Utah, 12/26 approved Commercial Bank of Payson, Utah, application for membership approved, subject to condition re paid-up 12/26 and unimpaired capital stock to granted Commercial State Bank, Sinton, Texas, permission FDIC to examine for continuance of insurance after withdrawal from membership in FRSystem 8/21 Six months notice waived and application for immediate withdrawal approved, termination to coincide 10/31 with acceptance for insurance by FDIC shestabli Commonwealth Trust Company of Pittsburgh, Penna., ment of branch at McKees Rocks, Penna., in connection with purchase of assets and assumption of deposits of Chartiers Bank, McKees 3/10 Rocks, Penna., approved applica Conn., Haven, New Community Bank and Trust Company, tion for membership approved, savings accounts to be brought into conformity with law, proper organization for fiduciary business to be secured at once, and compliance with condition 12/19 6 waived http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 352 1239 186 469 681 1101 64 327 132 687 1834 1833 1208 1514 359 1814 315 Pages State member banks: (Continued) Condition reports: 1/3 Call as of December 31, 1946 3/12 Spring call not to be made 4/7 Revised form FR 105 approved for mid-year call Forms and instructions for next call date sent to FRBanks 6/2 7/2 Call as of June 30 10/8 Call as of October 6 Connecticut, publication as of September 30 instead of October 6 approved in accordance with State 10/9 law To be available to FDIC for confidential use of Depart9/16 ment of Agriculture for tabulation of data Connecticut: Condition reports, publication as of September 30 instead of October 6 approved in accordance with 10/9 State law acquisiby n institutio Consolidation or merger with another tion of assets, simplified and uniform pro3/5 cedure approved memberfor n applicatio Ohio, Corn City State Bank, Deshler, 3/27 ship approved ent establishm York, New Plains, White County Trust Company, of eight branches in Westchester County, New York, approved in connection with proposed absorption through merger of Washington Irving Trust Company, Port Chester, N.Y., and 7/9 Bank of Westchester, Yonkers, N.Y. months six Jersey, New Cranford, Company, Cranford Trust notice waived and application for immediate 5/16 withdrawal approved of e continuanc for examine to FDIC to granted Permission 6/23 insurance after withdrawal from FRSystem of n Granted extension of time to accomplish terminatio 9/16 membership of n terminatio Granted extension of time to accomplish 11/26 membership n applicatio Culbertson State Bank of Culbertson, Montana, for membership approved, number of directors 1/24 to be increased to not less than five FDIC to ion certificat DeKalb State Bank, Doraville, Georgia, 1/20 as member of FRSystem memfor n applicatio Dobbs Ferry Bank, Dobbs Ferry, New York, bership approved, corrections to be brought 1/7 about in activities of trust department estabOhio, , Dollar Savings and Trust Company, Youngstown lishment of branch in Campbell, Ohio, approved subject to purchase of assets and assumption of deposits of City Trust and 7/25 Savings Bank, Youngstown, Ohio http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7 395 526 829 1014 1405 1416 1276 1416 334 467 1029 739 969 1276 1673 111 88 12 1101 316 Pages State member banks: (Continued) Dollar Savings Bank Company, Niles, Ohio, application for membership approved, subject to condition 1/2 re paid-up and unimpaired capital stock 1/30 Granted extension of time to accomplish membership of form Earnings and dividends reports on form 107, copies 12/9 sent to FRBanks nt Ecorse-Lincoln Park Bank, Ecorse, Michigan, establishme of branch in hcorse, Michigan, coincidentally with removal of head office to Lincoln 5/20 Park approved nt Endicott Trust Company, Endicott, New York, establishme of branch in Town of Vestal, New York, 1/10 approved exFarmers and Merchants Bank of Long Beach, California, amination re Long Beach Federal Savings and Loan Association, transactions determined not to be illegal, advice to Department of 2/5 Justice LaCrosse, County, Farmers and Merchants State Bank of Rush Kansas, application for membership approved, requirements re withdrawal of savings deposits to be brought into conformity with 3/25 law 5/12 waived in reserves s Penalties for deficiencie certificaMontana, Valier, of Farmers and Stockmens Bank, 1/7 tion to FDIC inadditional Jersey, New Newark, Federal Trust Company, vestment of $21,000 to acquire land approved 12/3 Fidelity Bank, Durham, North Carolina, additional invest4/18 ment in banking premises approved Road Roxboro on branch establish to Extension of time 5/19 in Durham County, N. C., approved Roxboro on branch establish to time of extension Granted 11/24 Road in Durham County, North Carolina program Fidelity coverage, FRBanks requested to cooperate in of FDIC and examiners to report on internal 11/10 safeguards of nt establishme Fidelity Trust Company, Baltimore, Md., branch in Towson, Md., approved in connection with proposed merger of Bank of Balti11/28 more County, Towson, Md. to on First State Bank of Greggton, Texas, certificati 12/11 FDIC estabOhio, Fifth Third Union Trust Company, Cincinnati, lishment of branch in Reading, Ohio, approved subject to absorption of Reading 9/30 Bank, Reading, Ohio as and ent vice-presid Service of Mr. H. Lyman Greer as director of Haydock Fund, Inc., in viola10/24 tion of section 32 of Banking Act of 1933 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 148 1728 747 33 177 463 703 13 1683 607 743 1634 1541 1677 1738 1349 1480 317 Pages State member banks: (Continued) First-Central Trust Company, Akron, Ohio, application for fiduciary powers approved upon conversion 2/27 into First National Bank of Akron, Ohio Ohio, appliRavenna, First Savings Bank and Trust Company, 2/27 cation for fiduciary powers approved for memberapplication First State Bank of Froid, Montana, ship approved, number of directors to be increased to not less than five, letter to Schnitzler Corporation re holding company 1/24 affiliate status to be transmitted for memberapplication First State Bank, Gould, Oklahoma, ship approved, excess balance on deposit 10/31 with nonmember bank to be reduced TeXas, applicaHouston, Bayou, of Green's First State Bank tion for membership approved, bank situated in unincorporated community of 10/16 Green's Bayou outside of Houston 10/23 Certification to FDIC as member First State Bank of Greggton, Texas, application for membership approved, time to accomplish limited 9/23 to 60 days 10/28 Granted extension of time to accomplish membership First State Bank, Junction, Texas, application for membership approved 10/28 Granted extension of time to accomplish membership 11/13 Certification to FDIC as member First State Bank, LaMarque, Texas, application for membership approved, additional powers not to be 8/28 exercised without permission of Board First State Bank, Premont, Texas, application for membership approved, power to issue and sell investment certificates not to be exercised with5/29 out permission of Board additional Illinois, First Trust & Savings Bank of Kankakee, expenditure for remodeling banking premises 11/1)4 approved months six Tenn., First Trust and Savings Bank, Paris, notice waived and application for immedi2/26 ate withdrawal from membership approved of continuance for Permission granted to FDIC to examine insurance after withdrawal from membership 4/23 Granted extension of time to effect withdrawal from 7/1 membership in FRSystem by approved withdrawal after Continuance of insurance FDIC, withdrawal permissible, advice to 9/23 FRBank of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 271 270 108 1513 1435 1476 1318 1489 lig 1552 1228 825 1555 264 628 low 1319 ge8 Pas State member banks: (Continued) ation Gallatin County State Bank, Ridgway, Illinois, applic n certai t to subjec ed, approv ship member for condition re paid up and unimpaired capital 5/6 stock 5/22 em FRSyst of member as Certification to FDIC for Grants State Bank, Grants, New Mexico, application 6/12 ed approv ship member 6/20 em FRSyst of member as Certification to FDIC ion Hampton Oaks State Bank, Houston, Texas, granted extens 1/2 of time to accomplish membership 2/18 Certification to FDIC as member of FRSystem of t Harvard Trust Company, Cambridge, Mass., establishmen branch in Arlington, Mass., in connection with proposed absorption of Menotomy Trust 2/26 Company, Arlington, approved for Hereford State Bank, Hereford, Texas, application membership approved, power to issue and sell investment certificates not to be exercised 5/23 without permission of Board 6/18 em FRSyst of member as FDIC to n icatio Certif of Industrial Trust Company, Providence, R.I., acquisition of assets and assumption of liabilities Ashaway National Bank, Ashaway, R.I., no 3/5 objection to and rd, Wickfo d, Additional investment for Elmwoo 4/24 Apponaug Branches approved d Elmwoo for ng buildi te Additional investment to comple 10/24 Branch approved in ng buildi for Additional investment approved Pawtucket, R.I., and for consolidation of 11/12 two branches there East at ements improv Additional investment for 12/30 Providence branch approved expenditure for Jasper County Savings Bank, Newton, Iowa, 2/5 approved es premis g bankin remodeling ana, Louisi gs, Jennin y, Jeff Davis Bank & Trust Compan 1/27 application for membership approved 3/3 Certification to FDIC as member of FRSystem for limited Kansas State Bank, Newton, Kansas, application 1/7 fiduciary powers approved for ation Liberty County Bank, Chester, Montana, applic increase in to t subjec ed, approv ship member 9/10 number of directors to not less than five 9/23 Certification to FDIC as member ation applic Livingston State Bank, Livingston, Montana, 8/11 for membership approved 9/4 Certification to FDIC as member ation for Manteno State Bank, Manteno, Illinois, applic 7/7 membership approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 685 777 904 963 4 221 263 795 938 336 631 1479 1546 1843 176 131 320 14 1266 1319 1164 1247 1024 319 Pages State member banks: (Continued) Manufacturers and Traders Trust Company, Buffalo, New York, granted extension of time to establish branch at Eggertsville, New York Manufacturers Bank & Trust Company, St. Louis, Mo., no objection to expenditures for remodeling banking house and purchasing parking lot Granted permission to maintain same reserves as banks outside of central reserve and reserve cities Maryland Trust Company, Baltimore, Maryland, acceptances up to 100% of capital and surplus, authority rescinded McAllen State Bank, McAllen, Texas, errors in published statement, republication of report not required Menotomy Trust Company, Arlington, Mass., establishment of branch in Arlington by Harvard Trust Co., Cambridge, Mass., in connection with proposed absorption of, approved Mercantile-Commerce Bank and Trust Company, St. Louis, Mo., purchase of capital stock of MercantileCommerce National Bank in St. Louis not permissible under Banking Act of 1933 Mercantile Home Bank and Trust Company, Kaasas City, Mo., affiliation of Lewis Investment Company, with terminated Merchants & Newark Trust Company, Newark, New Jersey, affiliate reports covering J. S. Rippel & Co., Guaranty Company of New Jersey, and Securities Company of New Jersey, requirements for submission waived Yellow Springs, Ohio, additional expendBank, Deposit Miami iture in bank premises approved Monroe State Bank, Monroe, Utah, application for membership approved, reservation of right to require 30 days written notice before withdrawal of savings deposits necessary Montana, issuance of capital debentures to shareholders in lieu of common capital stock, reply to FRBank of Minneapolis re Nassau Union Bank, Glen Cove, New York, application for membership approved National Savings and Trust Company, Washington, D. C., increase in investment in bank premises approved Nevada Bank of Commerce, Elko, Nevada, approval required for establishment of branch but not for removal of head office from Elko to Reno, advice to FRBank of San Francisco http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5/8 693 1/21 94 2/14 212 LL/9 539 7/25 1102 2/26 263 8/14 1181 8/1 1129 3/24 450 1/10 34 12/11 1736 7/9 1030 6/16 925 4/11 566 9/26 1335 320 Pages State member banks: (Continued) da, establishment of branch Nevada Bank of Commerce, Reno, Neva on with in Elko, Nevada, approved in connecti 12/3 1684 Reno to removal of head office from Elko , York tertown, New Northern New York Trust Company, liVa ch in Adams, New York, bran of t establishmen er with in connection with proposed merg Adams, any, Citizens and Farmers Trust Comp ion not icat New York, approved, further appl n of ctio g redu to be made on basis involvin ion, orat Corp and invested capital, Marine Midl 3/20 sed 439 be advi to holding Company affiliate, s, Adam any, Comp t Trus Absorption of Citizens and Farmers n program, opinion nsio expa and , New York 508 4/3 of Board sent to FDIC oved , appr York New en, Establishment of branch in Copenhag hase of in connection with proposed purc ies of ilit liab of on assets and assumpti 10/8 1408 Bank Copenhagen National Northern Trust Company, Chicwo, Ill: managing fund, termRetirement system, arrangement for 1498 10/31 es ination suggested by Chairman Eccl nts of retirement Transfer of management of investme 1697 12/5 New York discussed of nk FRBa system to main officers and agencies Official accounts of Government rmation re to be obtained info , tained with to be through FRBanks for Treasury, form agencies ory prepared by three bank supervis 1133 8/4 d and copy to be sent to Mr. Smea of ion icat ., appl Old Colony Trust Company, Boston, Mass lation F to three Regu of )(5) 17(c section 3/10 365 trusts under a will ce noti hs mont Ohio, six Ottoville Bank Company, Ottoville, ion for immediate withicat appl and ed waiv 6/25 982 drawal from membership approved nce inua cont for Permission granted to FDIC to examine 1017 FRSystem 7/2 of insurance after withdrawal from J. sion Suce by held Pan American Bank, Miami, Fla., stock 10/10 1420 Serrales n take es shar of le Pan American Trust Co., of New York, resa Banco de over by Nacional Financiera and ested as requ ion rmat info 6omercio Exterior, 1/22 100 to status of matter nk advice to FRBa Sale of shares to private investors, 3/31 493 of New York 598 4/16 a Novo Mr. to y repl s, stor Sale of shares to private inve Trusts, Philadelphia, Pennsylvania Company for Banking and of Pa., merger of Common Trust Fund retionary Disc Germantown Trust Company into 1155 8/8 to n ctio Common Trust Fund of, no obje http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 321 Pages State member banks: (Continued) ing AnPennsylvania Company for Insurance on Lives and Grant of ase purch Pa., ia, delph nuities, Phila of s litie liabi of ption assets and assum Kensington National Bank of Philadelphia and merger with Germantown Trust Company, 2/24 Philadelphia, no objection to v. members of Peoples Bank of Lakewood Village, California, upheld by bank r membe of Board, position case to be ls, Appea of Court ict U. S. Distr 4/15 Court me Supre S. U. to appealed et s, Eccle S. ner Marri v. ge Peoples Bank of Lakewood Villa al., petition to Supreme Court to grant writ to review decision of Court of Appeals in case requested of Department of Justice 5/12 letter to Mr. George T. Washington of writ of Peoples Bank of Lakewood Village case, issuance certiorari authorized by Department of 5/13 Justice Ky., gton, Peoples-Liberty Bank and Trust Company, Covin The John R. Coppin Co., not considered 11/28 affiliate of New , nsack Hacke Peoples Trust Company of Bergen County, Jersey, expenditure for acquisition of stock of Westwood Investment Company, affiliate holding title to banking premises occupied 5/1)4 by Westwood branch, approved passum Ky., le, Planters Bank and Trust Company, Hopkinsvil tion of deposit liabilities of Bank of 2/19 Kirkmansville, Kentucky, no objection to lishestab n, Orego Portland Trust and Savings Bank, Portland, ment of branch in Park Rose, Multnomah County, Oregon, approved in Park Granted extension of time to establish branch 116 /1 26 4/ Rose, Oregon Ohio, , nnati Cinci ny, Provident Savings Bank and Trust Compa e, establishment of branch at Sharonvill pabsor ed propos with Ohio, in connection Ohio, e, nvill Sharo Bank, tion of Sharonville 4/21 approved e ditur expen ., Penna ia, Provident Trust Company of Philadelph 5/6 for addition to main office approved 6/24 ks FRBan to r lette , tures Purchase of International Bank deben by Fifth Reading Bank, Reading, Ohio, establishment of branch , Ohio, nnati Cinci ny, Compa Trust Third Union 9/30 approved subject to absorption of tion condi of ity cabil appli ,.)f, sale ages, mortg Real Estate 5/13 of membeiship No. 3 fidRipley County Bank, Osgood, Indiana, application for 8/19 uciary powers approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 246 580 706 719 1677 725 224 59)4 167)4 613 686 979 1349 721 1194 322 Pages State member banks: (Continued) Safe Deposit and Title Guaranty Company, Kittanning, Penna., no objection to purchase of assets and assumption of deposits of National 2/14 Kittanning Bank, Kittanning, Penna. Savannah Bank & Trust Company of Savannah, Georgia, acceptances up to 100% of capital and surplus 1/23 authority rescinded Security State Bank, Keota, Iowa, application for fiduciary 9/8 powers approved Security State Bank, Littlefield, Texas, application for membership approved, exercise of trust powers not to be undertaken without 9/29 permission of Board 10/9 Certification to FDIC as member Security Trust Company, Lexington, Kentucky, change in corporate powers to permit conduct of 10/31 commercial banking business approved application York, New Rochester, of Security Trust Company for membership approved, subject to charge off of losses, retention and operation of branches at Fairport, Pittsford, and 11/20 Dansville approved Arizona, Tucson, Company, Trust and Bank Arizona Southern no objection to payment of interest on 3/2)4 certificates to Mr. TouEias if desired , Springfield Company, Trust and Deposit Springfield Safe Mass., establishment of branch in East 12/11 Longmeadow, Mass., approved State Bank of Albany, New York, establishment of branch in Village of Menands, Town of Colonie, New 8/18 York, approved in Additional investment for building for new branch Village of Menands, Town of Colonie, New 9/2 York, approved notice months State Bank of Blue Island, Illinois, six waived and application for immediate withdrawal from membership approved, permission granted to FDIC to examine for continuation 7/17 of insurance fiduciary for application State Bank of Escanaba, Michigan, 10/10 powers approved fiduciary for application State Bank of Milan, Indiana, 5/12 powers approved membership for application State Bank of Morton, Washington, approved, number of directors to be in12/17 creased to not less than five application Texas, of Dallas, Company, Trust & Texas Bank for membership approved, proposed expenditure for banking quarters approved, additional powers not to be exercised without 11/7 permission of Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 211 101 1258 1337 1416 1514 1600 454 1739 1191 1244 1063 1423 704 1784 7534 323 Pages State member banks: (Continued) Toledo Trust Company, Toledo, Ohio, designation of Toledo as reserve city, letter from Mr. Rohr, Presi9/26 dent, read and discussed at Board meeting Trust assets, statistics to be furnished to American Bankers 12/24 Association Union Bank of Commerce, Cleveland, Ohio, capital requirements for establishment of branch, reply to Mr. Burmester re legislation concerning natter 3/25 Union Bank, Loogootee, Indiana, no objection to acceptance of guardianship of minor war veteran, but no other further fiduciary business to be 5/26 acquired without permission of Board Union State Bank, Upton, Wyoming, application for membership approved, subject to condition re paid-up 10/9 and unimpaired capital stock Union Trust Company of East St. Louis, Ill., application for fiduciary powers upon conversion into Union National Bank approved for specific trusts 1/27 Union Trust Company, Greensburg, Indiana, penalties for de11/7 ficient reserves maimed Union Bank and Trust Company of St. Louis, charges for shipments of currency, letter from Mr. Minton re absorption, advice to FRBank of St. Louis 1/30 re Absorption of cost of shipments of currency, further correspondence with FRBank of St. Louis re 2/4 investigation of matter Absorption of costs of shipments of currency, procedure to be followed in advising member banks re 2/12 practice, advice to FRBank of St. Louis United States Trust Company of New York, N.Y., method of reporting reciprocal balances of private banks and bankers, changes made in FR 105 and FR 414, copies sent to FRBank of New 5/26 York Wachovia Bank and Trust Company, Winston-Salem, N.C., establishment of two branches in State College area and Hayes Barton area, Raleigh, N.C., 1/22 approved Request to submit semi-monthly reports of deposits with exception of Charlotte, in lieu of weekly reports, matter to be discussed with Mr. 11/26 Leach Washington Irving Trust Company, Port Chester, N.Y., proposed absorption by County Trust Company, White Plains, N.Y., through merger with Bank of Westchester, Yonkers, N. Y. 7/9 Waxahachie Bank and Trust Company, Waxahachie, Texas, application for membership approved 4/7 Wheaton Trust and Savings Bank, Wheaton, Illinois, application for fiduciary powers made on behalf of Wheaton National Bank approved 7/1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1329 1828 464 798 1414 133 1535 150 171 204 797 98 1673 1029 522 1000 324 Pages State member banks: (Continued) Wilmington Trust Company, Ailmington, Delaware, penalty for 12/3 deficiencies in reserves waived be to all banks Statistical series of assets and liabilities of compiled jointly by Board, Comptroller of 6/5 the Currency and FDIC of reasons advised Stimpson, Edward S., Cambridge, Mass., to be for issuance of general voting permit to Shawmut Association Stock,capital: apAmalgamated Bank of New York, reduction in common stock action York, proved by FRBank of New 1/24 ratified by Board shestabli for and banks Capital requirements for State member ment of branches by member banks, discussion of memo of legal Division re, questions to be discussed with Comptroller of the Currency and matter to be considered in near future 11/21 Draft of letter to Comptroller of the Currency to be 11/26 prepared re tion applica ta, Minneso Falcon Heights State Bank, St. Paul, for membership, action to be deferred until 6/19 agreement re adequacy of capital , FRBanks by held stock tion, Federal Deposit Insurance Corpora old certificate to be forwarded to Board for exchange and issue of new, advice to 1/29 FRBanks d returne ones old and FRBanks New certificates sent to 3/7 to FDIC , FRBanks and y Treasur repay to S. 1070, to cancel and Board in favor of bill with certain changes 4/18 advice to Senator Tobey cancelLetter to Senator Tobey on S. 1070 to provide for 6/13 lation of favor in S. 1070, to provide for cancellation of, report of President's signing sent to Bureau of 7/30 the Budget August in ed Cancellation of, statement to be publish 8/11 issue of FRBulletin far y Treasur Stock certificates to be transmitted to 9/16 presentation to FDIC, advice to FRBanks made be to not Payments to Treasury under section 13b(e) after cancellation by FRBanks, instructions 12/23 to FRBanks for 19h7 report on FR 418 e purchas Mo., Mercantile-Commerce National Bank in St. Louis, of shares by Mercantile-Commerce Bank and Trust Company, St. Louis, not permissible 8/1h under Banking Act of 1933 taken shares Pan American Trust Co., of New York, resale of over by Nacional Financiera and Banco Nacional de Comercio Exterior, information 1/22 requested as to status of matter http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1683 854 111 1626 1642 943 141 354 609 922 1116 1165 1277 1824 1181 100 325 Pages Stock, capital: (Continued) Pan American Trust Co., of New York: (Continued) FRBank Sale of shares to private investors, advice to of New York Mr. Novoa Sale of shares to private investors, reply to ents to Presid re, ation legisl banks, Requirements of member be advised of Board's position at joint 3/31 4/16 493 598 2/27 meeting ConAmendment to FRAct re, discussion at Presidents 2/28 ference favor in Discrimination against member banks re, Board 3/7 of legislation to remove 3/7 ss Congre of n Legislation re not possible at this sessio Mr. ftom Reply to Congressman Sundstrom re letter 5/12 William J. Field recomt, agains Legislation to remove discrimination mendation to be included in annual report and Board to take steps to introduce bill 6/6 at next session of Congress drafts 1948, in ss Congre Legislation re to be submitted to and transmittal letters sent to FRBanks for comments, information in support of 7/28 recommendations requested to bill ed propos of favor Legislation, Presidents in modify, but opposed to provision requiring approval of Board for establishment of intracity branches for State member banks 10/7 Discussion of memo of Legal Division, questions to be discussed with Comptroller of the Currency 11/21 and to be considered in near future be to cy Curren the of Draft of letter to Comptroller 11/26 prepared bill, Letter to Comptroller of the Currency with draft 12/5 ted reques views 269 Stock: ConferDividend rate on, topic not discussed at Presidents ence banks, issuance of capital debentures member Montana State to shareholders in lieu of common capital stock, reply to FRBank of Minneapolis Stock preferred: ate in RFC, retirement by banks, FRBanks requested to cooper acknow Program to be developed at FRBank of Dallas, ledgment of letter re letter Program at FRBank of New York, acknowledgment of re Stock Exchanges: to Boston, listing of securities by corporations on, reply ulties diffic letter from Mr. Besse re http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/28 7/9 309 345 348 708 881 1107 1385 1626 1642 1709 316 1032 3/17 415 4/14 570 5/29 826 7/7 1025 326 Pages Stock room: Supplies, Division of Administrative Services authorized 11/12 to purchase up to $15,000 worth no , preventive Strike legislation, classification of banks in 3/11 action by Federal Advisory Council Studies: Banking Studies, printing of 5,000 additional copies and 1/23 cost approved to chauffeurs and Chauffeurs, reduction in number of guards 1/14 be studied e cooperativ of ance Financial needs of industry, discontinu arrangement with Robert Morris Associates, advice to Mr. Duning, assistance of 11/19 Board in credit analysis to be available of n compilatio in e participat to Herter Committee, Board material for determination of foreign policy, Mr. Thomas or Mr. Gerschenkron to attend first meeting, after which 9/26 Mr. Hinshaw to be assigned to task Leave policies, of FRBanks, including question of accumulation of annual leave and payment in 2/25 event of death or separation from service Marshall Plan for assistance to European countries, participation of members of Division of Research and Statistics in work con7/11 nected with approved after discussion Participation of Board employees in special projects for other Government agencies involving submission of statement or memorandum as expression of Board's views or posi7/11 tion to require Board approval Policy, Postwar economic studies No. 8 on Federal Reserve 11/26 publication authorized FRBanks Price level of consumer goods, cooperation of with subcommittees requested, Dr. Hardy 8/8 to communicate with FRBanks re plans ns associatio Banker's p by Profit policy for banks, sponsorshi or similar groups suggested in reply to letter from Mr. C. L. Hufsmith re establish4/11 ment of to advice n, to publicatio no loans, objection Regulation V 4/11 FRBank of Richmond 1/27 1947 during continued , to be Associates Robert Morris Discontinuance of cooperative arrangement re study of financial needs of industry, advice to Mr. Duning, assistance of Board in credit 11/19 analysis to be available http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1549 369 103 53 1596 1333 257 1042 1042 1672 1161 567 567 124 1596 327 Pages Studies: (Continued) Robert Morris Project Schedule, extension approved by Bureau of the Budget, but to be discontinued after extension if reporting services by Federal Trade Commission and SEC is approved by 3/14 Congress Small-sized manufacturing and trade concerns, study in cooperation with Robert Morris Associates to 1/27 be continued in 1947 Subversive activities: Information on employment or dismissal of Board personnel 1/9 sent to Department of Justice ration of termination Sugar Rationing Administration, advice of 7/11 banking program to banks member for Sundstrom, Frank L., capital requirements, establish branches, reply re letter from 5/12 Mr. William J. Field United States: Supreme Court of Peoples Bank of Lakewood Village case, Legal Division to appeal decision of District Court of Appeals 4/15 of Justice requested to petition writ to reDepartment 5/12 view decision of Court of Appeals Major to advice report, to none has Board Surplus property, 3/7 General Robert McG. Littlejohn, WAA Surveys: All-bank statistical series, Board to join with Comptroller of the Currency and FDIC to arrange for compilation and publication of single, letter 6/5 to Bureau of the Budget re Tabulation and publication of single series of assets and liabilities of all operating banks in U. S., by three Federal banking supervisory agencies to take place of, press 11/7 statement and advice to FRBanks inBank loans, telephone survey of general character of creases requested by Treasury, FRBanks to 11/19 give information conversions, Banks that have withdrawn from membership, etc., information in connection with proposed legislation on capital requirements of banks 7/28 with branches by conducted be to Consumer Finances, Third National Survey University of Michigan, proposal approved, 8/15 advice to Mr. Herbert G. Watkins Uniby data to special of tabulations No objection versity of Michigan as requested by Institute of Life Insurance and the Automobile Manu6/27 facturers Association Amendment to Letter Agreement approved, advice to Mr. 11/7 Ruthven http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 411 124 27 1053 708 580 706 353 854 1535 1596 1107 1189 1219 1536 328 Pages Surveys: (Continued) by Council Consumer spending plans, interim survey requested of Economic Advisers approved, advice to Chairmn of the Council Interim survey to be conducted by University of Michigan for Board, letter to Mr. Briggs re 5/29 818 6A6 987 FRBank of Philadelphia: ies made 10/7 Cafeterias, survey of banks and insurance compan at FRBanks, regular and special statistical, discussion reduced be Presidents' Conference, number to 6/6 as much as possible m survey interi Liquid assets, mentioned in connection with of consumer spending plans requested by 5/29 Council of Economic Advisers ions g intent spendin Third national survey of finances and of individuals, negotiations with Survey Research Center of University of Michigan approved, budget of Division of Research and 7/2 Statistics to be increased to cover estate real National Bureau of Economic Research, urban mortgage loans, assistance by FRSystem ap7/2 proved endarecomm with s letter Protective, by FBI, completion of, tions to be sent to FRBanks, advice to FRBanks, and request for report in connection with 8/4 action re 12/15 d approve 1947 for Retail credit, continuation es Robbery, precautions against, to be made by FBI of practic ties, securi and money ng handli in s of FRBank and educational campaign to be conducted among member banks, discussion at Presi2/28 dents' Conference al nation Sales Finance company credit operations, one-time survey of volume to be conducted by Board 11/17 in cooperation with FRBanks and banks of Statistical reports and, overburdening business concerns with, discussion at Presidents' Conference of clearance of studies at policy level, System Research Advisory 10/7 Committee to make report on matter and es agenci l Supplies and equipment, practices of Federa private industry in maintaining inventories, Mr. Bethea designated as liaison officer collaborate with Joint Property Accounting 9/18 Staff, Bureau of the Budget Taxes: Bank holding companies, exemption during period of divest Snyder Mr. to letter ties, ment of securi on attitude of Treasury http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1391 883 818 1002 1020 1134 1752 302 1564 1401 1286 5/22 778 329 Pages Taxes: (Continued) Consolidation or merger of national and State banks, proposed amendment to remove certain advantages, Mr. Vardaman to advise ABA that Board would favor legislation that would also remove discrimination against member banks re capital requirement;for banks operating branches Franchise tax, Chairman Eccles to discuss question with Treasury Restoration of, Presidents to be advised of Board's position at joint meeting Restoration proposed for channeling Reserve Bank earnings to Treasury, discussion p.t Presidents' Conference restoration of of on Discussi President recomending veto of to letter R.1, H. Tax reduction bill, letter of disapproval sent to President, advice to Bureau of the Budget conLetter to President in opposition to, mentioned in Taft nection with discussion of proposed Hartley Labor Bill U. S. Revised Statutes, taxation of national of 5219 Section banks by states, proposed amendment to, no objection to on W, amendment to provide maturity Regulati P., Rex , Teeters of 24 months on financing of new passenger automobiles, reply to request for listed Television sets, classification under Regulation W as RCA from articles, reply to inquiry A. Thomas, Albert, Regulation V, reply to letter from Mr. S. Knight sent to Titles: Townsend, J. Leonard, title changed to Associate General Counsel and salary increased of Young, Ralph A., title changed to Associate Director Division of Research and Statistics and salary increased W., margin requirements, reply to letter Charles Tobey, Senator from Mr. Russell G. Longmire sent to from Mr. R. R. Wilson sent to letter Reply to Mr. W. T. Scott sent to from letter Reply to Mr. Russell G. Longmire on control of from letter Reply to stock market credit ed by, views of Board re introduc S. 408, bill exchange, reply to letter from Mr. stock on Short selling Thomas R. Furman sent to Toledo Clearing House Association, resolution opposing termina Toledo tion of reserve city designation of na, Greece, question of payment of Karitai , William , Tougias interest on certificates that expired during war http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3/7 345 2/4 168 2/27 269 2/28 310 3/7 349 6/5 849 6/9 895 6/17 928 1/30 1/7 152 19 6/16 926 1/21 95 12/19 1807 12/19 1807 6/1:A 914 6/13 915 6/13 916 5/6 2/20 687 228 6/13 913 11/20 1603 3/24 454 330 Pages Transamerica Corporation: Annual report to be filed on FR 437, extension of time to March I granted, but special arrangement 1/24 for extension discontinued in 1945 12 /24 filing for time of ion extens Granted l Genera ey Attorn to letter t, ding agains procee Anti-trust 2/25 Clark requesting opinion re ning Views of Secretary of the Treasury requested concer 4/15 American Tobacco case and entire situation Chairon, decisi ine determ to made be to n igatio Invest man Eccles to reply to Mr. Delano re time 11/17 of decision re, on decisi Investigation to be made to determine Mr. Townsend designated to visit San Francisco and other places on Wet Coast for, 11/24 advice to Mr. Farhart re, on decisi ine Investigation to be made to determ Mr. Townsend designated to proceed with, letter to Mr. Delano requesting that decision on pending applications for branches by Bank of America and First National 11/24 Bank of Portland be deferred with ance compli re ation Assets, readily marketable, inform requirements to be requested by FRBank of 11/12 San Francisco ish establ to ations applic Bank of America N.T. & S.A., branches, Mr. Leonard to prepare material for use of Mr. Wiggins in discussing mat3/14 ter with Comptroller issued order pines, Philip of ic Branch at Manila, Republ before Commonwealth of Philippines became a republic, authority for establishment for 3/18 Order authorizing establishment of branch at Tokyo, 6/30 Japan FRBank Participation in election of Class B director at of San Francisco, information to be re9/29 quested from ended recomm n Expansion, monopolistic aspects, investigatio by Mr. Townsend to be made by Legal Division, letters to be sent to Attorney General, Comptroller of the Currency, and Chairman of FDIC, Chairman Eccles to discuss matter with Under Secretary of the 10/31 Treasury Wiggins if desired nment adjour to Holding company legislation, passage prior of Congress not likely because of request to testify before House Banking and Currency Committee, statement of Chairman 7/18 Eccles s member v. rnia, Califo Peoples Bank of Lakewood Village, of Board, position of member bank upheld by U.S. District Court of Appeals, case to be 4/15 appealed to U. S. Supreme Court http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 131 1828 250 582 1561 1634 1635 1547 409 420 994 1336 1505 1065 580 331 Pages Transamerica Corporation: (Continued) Peoples Bank v. Marriner S. Eccles, et al., petition to Supreme Court to grant writ to review decision of Court of Appeals requested of Department of Justice, letter to Mr. George 5/12 T. Washington l Nationa First of stock vote to Voting permit requested Bank of Arizona, Phoenix, Arizona, to be considered by Board, but further information 10/10 in letter requested Travel: d Board members, trips outside of the U. S., to be approve conby Board, staterent of Mr. Eccles in nection with proposed trip by Mr. Evans to 7/22 South America ng, enteri Travel bureau business, propriety of national banks reply to letter from Mr. Edgar Josephson, 7/2 Jr. Travel expenses: trips to be Amendments to regulations to reduce, proposed 3/20 Committee nel Person approved in advance by ted suppor be to s voucher Amendments to regulations approved, by receipts, sentence re sharing of expense for shared accommodations to be deleted and 11/7 air travel approved allowin ion reduct staff, Board of Governors, members and 2/7 ances to be considered el, personn ial -offic non for Increase in per diem allowance question to be referred to Personnel Com10/17 mittee ial Financ pine -Philip an Americ Crosse l Howard, assigned to Commission for three months, expenses and 1/7 per diem to be paid by State Department examin Examiners, FRBank of Minneapolis, for services in ations of Seattle and Portland branches, payment of excess amount for travel approved12/12 India, Exter, John, return from Manila via Hong Kong, Siam, exshare and Europe approved, Board to 4/15 penses with State Department and Europe Return trip from Manila via Pacific and h/16 expenses authorized Islands ine Expense account as result of trip td Philipp 8/12 approved assisfor pines Approved for trip to Republic of Philip 12/19 tance in organization of central bank of c Republi Advance of funds for official trip to 12/23 Philippines approved red conside be to nces, FRBanks, schedule of maximum allowa after information obtained from Office of the Comptroller, FDIC, and RFC re allowances, and after Board consideration of reduction 2/7 in allowances for Board members and staff http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 706 1424 1087 1019 425 1537 182 1442 11 17145 572 591 1167 1809 1820 182 332 Pages Traveling Expenses: (Continued) FRBanks: (Continued) Schedule for officers and employees, statement of policy to be sent to FRBanks after decision 3/14 on basis for Board and staff Schedule to be established, matter to be placed on agenda for Presidents' Conference, letter 5/8 to Mr. Sproul Policy re reimbursement, discussion at Presidents' Conference, problem to be studied by personnel officers of Banks and Board's staff 6/6 and report submitted Schedule and reimbursement policy discussed, question 8/7 to be referred to Mr. Vardaman Schedule and reimbursement policy, draft of letter to FRBanks to be revised, after discussion with Presidents and approval of letter by Board, Board's travel regulations to be amended to 9/26 increase per diem for employees to $8 Schedule and reimbursement, draft of letter to Presidents discussed, to be circulated among members of 9/30 Board for consideration Letter to Presidents approved for discussion at Presi10/3 dents' Conference at PresiSchedule and reimbursement policy, discussion dents' Conference, Presidents not in favor 10/7 of, Board to make decision re be taken to action Schedule for maximum allowances, no until information prepared by examiners for one year compiled, revised letter to 10/17 be prepared for consideration by Board deferred, action Schedule and reimbursement policy, reports on total amount of expenses by 11/24 various groups requested Board's with assist to , Goldenweiser, E. A., Consultant work on present legislative program, com11/26 pensation and per diem approved Ecuador 3/7 to mission for increased Grove, David L., per diem 3/14 approved Ecuador to Advance of funds for trip Expense account in connection with trip to Ecuador 8/18 approved assistfor s Philippine of Republic Approved for trip to 12/19 ance in organization of central bank Advance of funds for official trip to Republic of 12/23 Philippines approved Knapp, J. Burke, granted per diem of $15 during trip to London and Western Europe and advance of 8/27 $750 for trip Additional payment for expenses in connection with 12/19 conference in London approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 406 694 886 1143 1328 1345 1360 1395 1441 1633 1672 342 410 1191 1809 1820 1217 1811 333 Pages Traveling expenses: (Continued) Lohmann, M. R., consultant, employment on temporary basis approved, compensation to be on daily basis 2/21 and traveling expenses to be paid by Board Lutz, Friedrich A., Consultant, appointment for indefinite period and daily compensation approved, 3/6 travel expenses to be paid by Board Metzler, Lloyd A., transportation expenses and salary approved in connection with checking of paper on "Exchange Rates and the International 6/14 Monetary Fund" expenses and Morse, Chandler, consultant, appointment applicable to Asst. Director of Division 10/31 approved expenses and appointment Musgrave, Richard A., consultant, applicable to Asst. Director of Division 10/31 approved To prepare analysis of statement by Committee for Economic Policy on "Taxes and the Budget", 11/10 traveling expenses and per diem approved Overby, Andrew N., per diem payments by FRBank of New York while serving as Assistant to Secretary of the Treasury, objection by Board, in con10/21 nection with examination report Per diem allowance for employees of Board, increase from 7.00 to 38.00 approved and changes made in regulations to include items in Govern10/31 ment regulations Per diem payments to former Asst. Vice President of FRBank of New York while serving as assistant to Secretary of the Treasury, not to be discussed at Chairmen's Conference and not to 11/26 be taken up with FRBanks connection in payment York, Schofield, G. W., FRBank of New with examination of FRBank of Cleveland and reimbursement to FRBank of New York for 6/25 traveling expenses approved Wirth, Eleanor, clerk-stenographer, assignment to AmericanPhilippine Financial Commission approved, travel expenses and per diem to be paid by 1/10 State Department Travel regulations, Board of Governors: Amendments to effect reduction in expenses approved, proposed trips to be approved in advance by Personnel Committee, copies of revised regulations to be sent to members of Board and 3/20 Senior Staff http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 236 338 846 1512 1512 1540 1470 1504 1671 963 33 425 334 Pages Travel regulations, Board of Governors: (Continued) 3/20 Regulations, as amended not tee nel Commit Person of al approv d, As further amende to be required for automobile travel by employees in Divisions of Examinations, Bank Operations, and Personnel Administration 4/30 to $8 to es employe for diem per Amendment to increase be made upon approval of letter to FRBanks 9/26 re travel expenses Treasury bills: Loan value to be established by FRBanks, letter to Mr. Sproul re, matter to be discussed at Presi12/5 dents Conference nce To be maturity value, views of Presidents Confere 12/9 approved by Board disFOMC, Posted rate and repurchase option established by continuance discussed, question to be con4/23 sidered further by Treasury at meeting attend to Program re, Messrs. Eccles and Sproul 4/11 Treasury to get agreement on disdaily, ined Purchase by FRBanks at price to be determ cussion at FAC meeting of position of FRBank of Nem-York in discouraging purchases, further information to be obtained before considera9/23 tion of change in procedure for System on, option ase repurch and rate Termination of fixed buying 4/16 to be discussed at FAC meeting with Board Treasury Department: Absorption of exchange charges by insured nonmember banks, digest of information reported by FRBanks of Richmond, Atlanta, and St. Louis, memo to be prepared and Mr. Clayton to confer with 7/11 Mr. Wiggins inforMd., lis, Annapo , Company Trust and Annapolis Bank mation in report of examination desired by Treasury Intelligence Unit, request to be sub5 mitted in accordance with approved procedure 2/2 ment Govern Authority of FRBanks to make direct purchase of securities from, request for permanent, ad3/3 vice to Mr. L'Heureux l genera on Bank loans, telegram to FRBanks for information 11/19 increases in bill , FRBanks Direct purchase of Government securities by to make existing authority permanent, draft with recommendation for enactment sent to Chairmen of Senate and House Banking and 1/10 Currency Committees FAC of views Legislation to make authority permanent, 2/11 requested by nded recomme Extension of authority for three years 3/1] FAC, discussion at meeting with Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 435 665 1328 1708 1718 618 559 1293 590 1048 254 321 1596 40 203 .383 335 Pages Treasury Department: (Continued) Earnings of FRBanks, payment of portion to, discussion of 2/28 various methods at Presidents' Conference Federal Open Market Committee, policy to be discussed by 2/4 Chairman Eccles with Fiscal agency expenses, greater absorption by FRBanks, Chair2/4 man Eccles to discuss question with Fiscal agency operations, transfer of issue and redemption of war savings bonds to head officers, no objection to sending of another letter to FRBanks asking for views, Board to consider matter further before final instructions 4/8 from Foreign funds control: Treasury Department Regulation, statement to be pub1/23 lished in February issue of FRBulletin n for: FRBullati in Releases, statement to be published 1/23 February 2 /27 March 4/22 May 12/22 January, 1948 2/4 with question discuss to Eccles Franchise tax, Chairman Gold: First National Bank and Trust Company of New Haven, Conn., account used for trafficking in, statement of Treasury and FRBoard to be brought to attention of holder and no positive action to be made in support of 8/18 gold operations proprices, premium at gold in traffic onal Internati posed press statement to request American banks to refrain from facilitating, memo 7/2 re sent to Secretary for comments International transactions at premium prices, statement by Treasury and Board requesting Americans to refrain from encouraging and facilitat7/22 ing, copy sent to FRBanks for publicity activiIntercity leased line telephone network to serve ties of Federal Government, Board not interested in proposed service at present, 6/2 advice to Mr. David A. Kosh until Interest rate on FRnotes, action not to be taken after meeting of Chairman Eccles with Treasury, press statement to be sent to Mr. Sproul for suggestions, verifications of computations to be obtained from FRBanks 4/11 Issuance of licenses to commercial banks for loans on foreign-owned gold, program to be dis5/20 cussed with Issue and redemption of savings bonds, transfer from branches to head office, Mr. Smead to meet 3/28 with Mr. Bartelt http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 310 168 168 533 103 103 272 617 1817 168 1192 1018 1093 834 558 750 472 336 Pages Treasury Department: (Continued) Margin requirements, to be advised that Board is considering reduction in National Advisory Council on Domestic Credit Extension, draft of bill prepared by, Boar3 opposed to National Association of Supervisors of State Banks, representatives to be invited to dinner given by Board for Official accounts of Government officers and agencies maintained with State member banks, information re to be obtained through FRBanks for, form to be prepared by three bank supervisory agencies and copy to be sent to Mr. Smead Payment of interest charge on FRnotes from earnings of FRBanks 11b(e) of FRAct, not to be made by section Payments under FRBanks after cancellation of FDIC stock, advice to FRBank of San Francisco Instructions to FRBanks for 1947 report on FR418 reduce Regulations T and U, amendments to supplements to on to objecti margin requirements to 75%, no Board by Savings bond booklet, cost of printing to be paid support Savings Bond campaign, cooperation of FRSystem in informaand of, letter to Secretary Snyder tion to FRBanks e authority for direct purchase of securcontinu to S. 828, ities by FRBanks, to be brought up in Senate this week to S. 1176 and S. 1178, enactment opposed by Board, report ry Secreta Under Senator Tobey, copy sent to of the Treasury certifiStock held by FRBanks in FDIC, transmission of new ones old of return cates to FRBanks and to FDIC, advice to monoTransamerica Corporation, investigation to be mode re to matter on, expansi of polistic aspects Under with Eccles n Chairma by be discussed Secretary Wiggins if desired join Wiggins, A. L. M., Under Secretary, to be invited to Board members and Presidents for golf and dinner at Burning Tree Country Club Chairman Eccles to attend meeting at Treasng, Treasury financi ury re before leaving for West and Proposals of FOMC re refunding of Treasury securities issuing rate on Treasury certificates, to be accepted by Treasury, statement of Chairman Eccles http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/14 56 12/15 1747 6/20 952 8/4 1133 10/27 1485 12/2 12/23 1679 1824 11/ /7 6 168 7 5/29 828 4/15 572 6/13 918 3/7 354 10/31 1511 9/26 1330 4/16 587 10/17 1440 • 337 Pages ress ose Cong purp ral gene , Truslow, Francis Adams, margin requirements to intended by administration of, reply 6/24 975 re letters of inquiry Trust assets: furnished to American Statistics for State member banks to be 1828 12/24 Bankers Association Trust funds: discussed at meeting Collateral to secure uninvested, to be 2/27 269 with Presidents ons lati Regu to ts dmen amen Collateral to secure uninvested, erence, F and H suggested by Presidents Conf 2/28 290 matter to be considered further Common: ns, statement to Acquisition of interest in participatio lletin 7/23 1096 be published in August is,sue of FRBu ., Conn rt, Bridgepo First National Bank and Trust Company, certain funds in of nt stme inve re inquiry operated participations in common trust fund on F lati Regu by, contrary to provisions of 1157 8/8 advice to Mr. Wheeler damen d este sugg H. R.2315, Board in favor of bill with of Columbia, ments as applicable to District 4/11 568 sen advice to Congressman Dirk to y repl ts, trus Loans to trustors of revocable living Savings inquiry from First National Trust and icaappl re Bank of San Diego, Calif., 6/19 9h5 bility Of Regulation F d ishe publ be to t Operation as investment trust, statemen 8/25 1214 in September issue of FRBulletin , phia adel Phil ts, Trus and Pennsylvania Company for Banking Germantown merger of Common Trust Fund of Common Trust Company into Discretionary 1155 8/8 to n ctio obje Trust Fund of, no er memb received by Railroad equipment trust agreement, funds cation as time sifi clas to, bank pursuant to indeposit under Regulation Q, reply 10/7 1375 quiry from FRBank of Richmond ed gnat U. S. - Canadian "working party", Mr. Morse to be desi icipate as Board's representative to part 6/12 905 in University of Michigan: be conducted for Consumer spending plans, interim survey to 6/26 987 Board, letter to Mr. Briggs by, d ucte cond be Consumer Finances, Third National Survey to Herbert proposal approved, advice to Mr. 8/15 1189 G. Watkins Mr. to ce Amendment to Letter Agreement approved, advi 11/7 1536 Ruthven rim inte with on ecti Survey of liquid assets, mentioned in conn ested survey of consumer spending plans requ 5/29 . 818 sers Advi by Council of Economic viduals, Survey of finances and spending intentions of indi Survey with ions tiat third national, nego 7/2 1002 oved er appr Research Cent http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 338 Pages University of Michigan: (Continued) in 1946 and 1947, Surveys of consumer finances by Board of data from objection to special tabulations Insurance as requested by Institute of Life ciation 6/27 Asso and the Automobile Manufacturers Vacuum Cleaner Manufacturers Association: cleaners from list, reply Regulation W, elimination of vacuum 2/26 to letter from Mr. Kelly rave Musg of Messrs. Valdes, V. Manuel, request for services of fiscal system not y stud for e and Grov 5/19 approved, reply to Vaults: special consideration Construction by FRBanks or branches, Chairman to be given to, discussed by osals at prop Eccles in connection with Angeles Los and Jacksonville, Portland, 10/21 branches rles Branches, info Construction at Portland and Los Ange ral Works mation to be obtained from Fede 10/27 Agency Veterans: justment Act of H. R. 4488, bill to amend Servicemen's Read t, ad1944, Board not in favor of enactmen 12/17 vice to Hon. Rogers er lett 408, reply to Housing projects, effectiveness of S. r sent to Senator Star E. from Mr. Louis 5/2 Tobey Violations: Criminal: manner of conducting FRBank of New York, discussion of lcation, not to investigation of recent defa Conference and not be discussed at Chairmen's 26 th FRBanks to be taken up with Regulation Wr: B. Chereton, Consumers Home Equipment Company and A. al in Cincinappe report of Mr. Townsend on 4/8 nati of tion adop to n ctio Farm Credit Administration, no obje 4/4 compliance modified procedure for checking r unde n atio stig inve Louisiana Furniture Company, recent 10/16 consideration by Board Mo., visits made Ray McCarthy Motor Company, St. Louis, l clarification unti re, action to be deferred 7/3 of future status of Regulation re t emen rtis adve Sears, Roebuck & Co., Durham, N.C., matter revacuum cleaners in violation of, ce to ferred to FRBank of Richmond, advi 10/8 Mr. Kelly Visits: Board merbers and Corbett, H. S., invitation to visit with ington to luncheon during trip to Wash http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/22 1219 266 744 1460 1486 1786 677 1671 530 521 1437 1023 1409 .1091 339 Pages Visits to FRBanks: Board members, conduct and statements, discussion of, objections to Board policies to be voiced at Board 3/20 meetings but not on outside es, FRBank of Boston, representatives of Government agenic 1/24 acknowledgment of letter re Visits to foreign countries: ies Evans, R. M., authorized to visit South American countr ms and proble in connection with agricultural s Board' then to call at central banks to streng 7/22 association with authorities banks of Knoke, L. W., and Wallich, H. C., visit to central 2/25 Latin American countries l centra visit to Moore, O. Ernest, FRBank of New York, trip banks of Venezuela, Colombia, Ecuador, Costa Rica, Nicaragua, El Salvador, Guatemala, and 8/1 possibly Mexico approved l centra visit to trip York, Sanford, Horace L., FRbank of New banks of Venezuela, Colombia, Ecuador, Costaand Rica, Nicaragua, El Salvador, Guatemala, 8/1 ed approv possibly Mexico and loans ty securi re Von Nostitz, H. P., Board's regulations other matters re stock markets, reply to 1o/16 letter from Voting permits: general BancOhio Corporation, Columbus, Ohio, issuance of permit to vote stock of First National Bank of Wilmington, Ohio, subject to certain 9/5 condition of ce issuan York, New , Warsaw Inc., , Financial Institutions limited permit to vote stock of Wyoming County Bank and Trust Company, Warsaw, New 1/15 York, approved ce issuan Minn., First Bank Stock Corporation, Minneapolis, of general permit to vote stock of First 1/3 National Bank of Cloquet, Minn., approved l genera of ce First National Bank in Dallas, Texas, issuan permit to vote stock of American National Bank of Oak Cliff, Dallas, Texas, approved, 4/25 subject to certain conditions ce issuan Texas, , First National Securities Company in Dallas of general permit to vote stock of American National Bank of Oak Cliff, Dallas, Texas, 4/25 approved subject to certain conditions an Americ of ate affili y Genesee Corporation, holding compan National Bank of Miami, Florida, permit necessary to vote for consolidation of American National Bank of Miami and First National 5/14 Bank of Miami, Florida ed, follow be to ure d, proced limite and l Issuance of genera 3/10 advice to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 437 113 1087 260 1129 1129 1436 1252 65 8 637 638 726 .361 340 Pages Voting Permits: (Continued) 11/20 Lists, copies sent to Comptroller of the Currency gh, Pa., Pittsbur Mellon National Bank and Trust Company, granted limited permit to vote stock of Farmers Deposit National Bank of Pittsburgh, 1/13 Pa. general National Shawmut Bank of Boston, Mass., issuance of permit to vote stock of three national banks 1/10 approved limited of Republic National Bank of Dallas, Texas, issuance permit to vote stock of three national banks 1/10 approved ComNational Republic National Bank of Dallas and Republic pany, Dallas, Texas, applications to vote stock in affiliated banks, nbt to be approved until Republic National Company provides additional capital funds or makes other arrangements for holding bank stocks now carried 8/29 with City funds limited of issuance Republic National Company, Dallas, Texas, permit to vote stock of three national banks 1/10 approved pergeneral of issuance Shawmut Association, Boston, Mass., mit to vote stock of three national banks 1/10 approved be to Stimpson S. Edward Issuance of general permit, Mr. 1/14 advised re of stock vote to d reoueste Transamerica Corporation, permit First National Bank of Arizona, Phoenix, Arizona, to be considered by Board, but fur10/10 ther information in letter requested issuia, Californ o, Francisc San ion, Transamerica Corporat ance of limited permit to vote stock of First National Bank of Arizona, Phoenix, 11/5 Arizona, approved surOregon, United States National Corporation, Portland, render of permit to vote stock of Clark County National Bank, Vancouver, Wash., not necessary as taken over by Seattle-First 9/12 National Bank of Seattle, Wash. Vouchers: Examiners, FRBank of Minneapolis, for services in examinations of Seattle and Portland Branches, payment of excess amount for travel expenses 12/12 approved examinaExaminers of FRBank of Richmond, for assistance in tion of FRBank of New York, payment approved 9/2 instrucRFC Custodian Bulletin No. 1185 re expense vouchers, by vouchers of tions to FRBanks for audit 6/18 RFC representatives of cost for , payment Savings Bond Division of Treasury 11/26 printing booklet authorized http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1602 47 36 37 1231 37 34 58 1424 1529 1273 1745 1244 939 1670 341 Pages Wagner Questionnaire: Matters in connection with legislation to be discussed at 2/27 meeting with Presidents War Assets Administration: 3/7 Surplus property, Board has none to report, advice to War Department: War loans, attorney's fee incurred by FRBank of Atlanta as agent in connection with guaranteed loan, approval of payment requested in letter to 8/29 Secretary Royall War loans: Attorney's fee incurred by FRBank of Atlanta as agent for War Department in connection with guaranteed loan, approval of payment requested in letter 8/29 to Secretary Royall for -loan V for n Bank of Manhattan Company, applicatio guarantee by Navy Department of loan to Pollak Manufacturing Company, production in U. S. District Court in case of United States v. Corrigan, et al. authorized, advice to 6/2 FRBank of New York Deposits, exemption from reserve requirements, no further legislation needed after termination of Act 3/3 of April 13, 1943, advice to Mr. L'Heureux V, Regulation under Cleveland of FRBank of Experience 1/20 letter from Mr. Gidney on History of V-loan and T-loan programs, prepared by Mr. Hackley, copies sent to FRBanks on confid9/4 ential basis Reports of applications for guarantees (FR 581), statement re changes to be discontinued, advice to 2/17 FRBanks FRBank to Study re, no objection to publication, advice 4/11 of Richmond to objection no ive coins, Washington, Booker T., commemorat 3/10 plan of Special Committee for distribution pubIll., Chicago, & Company, Schwinn Wegner, G. H., Arnold, lication in FRBulletin of article on extension of instalment credit by banks and question of nonrecourse paper suggestion con10/8 sidered inappropriate for Board Texas, Falls, n, Wichita House Associatio Clearing Wichita Falls reimbursement by FRBanks to member banks of postage and other transportation costs on cash items, reply to letter enclosing 9/29 resolution Wilbur, H. S., absorption of postage and other charges for certain banks, reply to letter sent to 9/18 Congressman Worley http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 269 353 1240 1240 833 321 91 1247 217 567 367 1h09 1338 1285 342 Pages Wiley, Senator Alexander, reply that Administrative Practitioners Act is not needed for proceedings before Board Bills to repeal obsolete provisions of Federal statutes, study to be made by Legal Division and advice to be sent to Bills to repeal obsolete laws, statement sent re obsolete provisions of FRAct Willis, F. C., margin requirements, reduction to 33-1/3 required for purchase of grain contracts, reply to suggestion from Wilson, J. C., ABA., proposed amendment to remove certain tax advantages re consolidation or conversion of national and State banks. Wilson, R. R., margin requirements, reply to letter sent to Senator Tobey Wisconsin: Audit of certified statements submitted for assessment purposes by insured banks, experimental program by FDIC to be extended to in FRSystem: from membership Withdrawals Bank of Chestnut, Illinois, six months notice waived and application for immediate approved, termination to coincide with acceptance for insurance by FDIC Permission granted to FDIC to examine for continuance of insurance after withdrawal (See record in Files) Citizens State Bank, Wausau, Wisconsin, withdrawal advised by FDIC representative, letter to FDIC protesting such practices Commercial State Bank, Sinton, Texas, permission granted to FDIC to examine for continuance of insurance after withdrawal Six months notice waived and application for immediate approved, termination to coincide with acceptance for insurance by FDIC Cranford Trust Company, Cranford, New Jersey, six months notice waived and application for immediate approved Permission granted to FDIC to examine for continuance of insurance after withdrawal Granted extension of time to accomplish termination of membership Granted extension of time to accomplish termination FDIC advice re, letter sent to Mr. Hanl protesting such practices Advice re, letter to Mr. Han, Messrs. Sailor and Leonard to discuss matter First Trust and Savings Bank, Paris, Tenn., six months notice waived and application for immediate approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11/3 510 4/30 664 7/ 9 1033 10/24 1481 3/ 7 345 6/13 915 11/ 5 1531 12/11 1735 12/11 2/ 7 186 8/21 1208 10/31 1514 5/16 739 6/23 969 9/16 1276 11/26 1673 2/ 7 186 4/ 8 536 2/26 264 343 Pages Withdrawals from membership in FRSystem: (Continued) nued) First Trust and Savings Bank, Paris, Tenn: (Conti ed by approv Continuance of insurance after withdrawal to advice FDIC, withdrawal permissible, FRBank of St. Louis Permission granted to FDIC to examine for continuance of insurance after withdrawal Granted extension of time to effect withdrawal notice Ottoville Bank Company, Ottoville, Ohio, six months apate immedi waived and application for proved Permission granted to FDIC to examine for continuance of insurance after withdrawal State Bank of Blue Island, Illinois, six months notice waived and application for i;mmediate approved, permission granted to FDIC to examine for continuation of insurance s Worley, Hon. Eugene, absorption of postage and other charge from letter to reply banks, n for certai Mr. Wilbur sent to http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9/23 1319 4/23 7/1 628 1000 6/25 982 7/2 1017 7/17 1063 9/18 1285
@FedFRASER