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1 INDEX TO MINUTES OF BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 1948 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, W Directors 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 1948 "A" 1 Pages Absences: Board Members and official staff, procedure for information re approved Acceptances, bankers: Regulation A, section 6, interpretation of provisions relating to eligibility for discount of, advice to FRBank of St. Louis Accounting conference, to be called for meeting in Washington To be held in Washington beginning Sept. 13 Accounting procedure, simplification of, Form FR 34 and Manual of Instructions to be revised, advice to . FRBanks Addresses: Board members other than Chairman and members of staff, question of public addresses at present time discussed by Mr. Vardaman in connection with invitation to Mr. Riefler, no change to be made in present procedure of franking privilege and payment of discussion Distribution, postage by Board, use for business of Board justified, Board members to use discretion in other cases Thomas, Woodlief, to speak on current monetary problems at Annual Convention of Council of Insured Savings Associations of New York State Williams, Alfred H., before U. S. Savings bond conference in St. Paul, Minn., cost of printing copies for distribution by Treasury to be borne by FRBank of Philadelphia, no objection with certain changes made in speech Advertisements: Balanced budget plan of Industrial Bank of Commerce, possible violation of Regulation W Pigskin Davis Furniture Company of Tulsa, Okla., applicability of Regulation W to sets and groups of articles, reply to FRBank of Kansas City Regulation W, letter to Mr. Nyborg, President, Association of Better Business Bureaus, Inc., re voluntary standards Regulation W, bona fide "free gift" of merchandise not prohibited by, advice to FRBank of San Francisco Time certificate in advertisement of national bank, question of compliance with provisions of Regulation Q re payment of interest on deposits, advice to FDIC letter to Mr. Johnson on experience Company, Insurance Aetna Life discount and additional payment on death claims http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11/19 1950 3/11 6/9 8/11 352 928 1267 12/13 2114 12/7 2078 4/23 645 4/23 644 10/19 1784 12/28 2228 11/24 1976 10/5 1707 12/24 2201 5/13 764 6/16 959 2 Pages Aetna Life Insurance Company: (continued) Group life insurance policy with Board, excess prealiums paid by employees to be carried forward as reserve, to be used before further contributions by Board Affiliates: Condition reports, forms and instructions to be sent to FRBanks for next call date Forms and instructions sent to FRBanks for next call date Hannibal Mutual Loan and Building Association, Hannibal, Mo., affiliate of Farmers and Merchants Bank and Trust Company, Hannibal, Mo., submission and publication of report on forms FR 220 and FR 220a not required for past call dates but due for next call if affiliation still exists Agricultural economists, proposed conference at Ames, Iowa Air conditioning: FRBank of Chicago, no objection to completion of FRBank of Kansas City, reply to request for expenditure, suggesting postponement Regulation W, reply to FRBank of Minneapolis re applicability to units Airway Branches, Inc., registration under Regulation W, same arrangement as for Martin-Parry to be worked out with, advice to FRBank of Cleveland Registration under Regulation W I telegram to Mr. Saxton Registration under Regulation W, advice to FRBanks Althaus, Jno. K., Secretary, The Credit Bureau, Inc., Washington, D. C., Regulation W, amendment to provide free trial period for television sets, reply to suggestion Reply to letter re Statement of Borrower Amberg, Harold, bank holding company legislation, discussion of matter suggested by Chairman McCabe Association of Reserve City Bankers at meeting To represent to discuss bank holding company legislation Suggestion that luncheon with groups interested in holding company legislation be held first Association: American Bankers Agricultural loans and farm real estate loans, condition reports of State member banks to be available to FDIC for confidential use in compilation of legislation, representatives to be incompany holding Bank vited to attend meeting to discuss Discussion of position on, resolution of endorsement indicated, statement at meeting of FAC with Board Branches of national banks, support for legislation to eliminate discrimination requested http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8/9 1249 6/8 11/8 922 1870 2/5 4/7 149 547 7/1 1072 2/27 264 9/10 1491 11/5 11/12 11/17 1866 1894 1936 9/27 10/19 1622 1787 6/8 919 7/6 1085 7/15 1119 1/21 97 7/6 1086 9/21 1589 3/18 385 3 Pages American Bankers Association: (continued) Conversion of national banks into or consolidation with State banks, legislation to permit, letter to Mr. 3/18 Needham re form of bill Letter to Mr. Needham to be drafted on proposed procedure 12/3 12/14 Letter to be sent to Mr. Needham opposing legislation Opposition of Board to proposed legislation, letter ap12/21 proved Credit program for voluntary restraint, participation of Board in meetings, Kr. Clayton to draft 1/9 statement of acceptance of invitation Measures being taken by banks and results, to be dis2/2 cussed at meeting of FAC with Discussion of pilot meetings, at meeting of FAC 2/17 Board H. R. 2799, to make changes in operations of Federal Home Loan Banking System, opposition to, state5/10 ment of Mr. Dodge borrow Banks to Loan Legislation to authorize Federal Home 12/7 from Treasury, question of taking up with and 10, 9, February on held Midwinter Trust Conference to be 1/12 11, advice to FRBanks auto amendment Circulars, Regulations J and Reserve Bank thorize procedure for conditional payment of cash items, with right of drawee banks to return unpaid items for payment on busi2/27 ness day after receipt, recommended by statute model of receipt upon adopted Amendments, to be re conditional payment of checks, letter to 7/15 Mr. Lawson adopted, items unpaid of return delayed re Amendments 11/24 advice to Mr. Lawson Regulation W, reply to letter re sale of unlisted article on instalment basis and instalment loan to 12/28 purchase an unlisted article Reserve requirements, proposal for increased authority over reserves of insured banks, to be discussed 12/31 by Reserves for contingent losses in trust departments, request for information from reports of examinations, letter to Mr. Stephenson re con11/18 fidentiality of of, Service of members of staff of Board on Committees 8/24 survey to be made legislacompany Stonier, Harold, statement on bank holding 6/8 tion American Bar Association: Committee on Secured Consumer Credit, requested that member 8/10 of staff of Board be designated to serve on survey of, Committees on Board of Service of members of staff 8/24 to be made distributo make not Board for, Solomon, Frederic, article tion or to publish in FRBulletin, but copies to be available for FRBanks, advice to Mr. 9/2 Neely http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 384 2035 2124 2164 46 141 210 744 2071 57 267 1122 1973 2229 2258 1941 1365 918 1259 1365 1434 4 Pages American Industrial Bankers Association, Fort Wayne, Indiana, Regulation W, reply to letter from Mr. Bone protesting certain provisions Regulation W, resolution opposing proposed amendments re modernization and repair credits and enforceability of contracts, reply to Mr. Bone American Institute of Banking: Participation in activities by officers and employees of FRBanks, statement changed American Law Institute: Commercial Code, preparation of, suggestions requested by Mr. Mason, Mr. Vest to take matter up with Mr. Davis and proceed with review of Code Annual reports: Board of Governors for 1947, approved, to be transmitted to Speaker of House over signature of Mr. Eccles, Chairman pro tem. Holding company affiliates, to be obtained on Form FR 437, instructions to FRBanks Wisconsin Bankshares Corporation, Milwaukee, Wis., to be obtained on Form FR 437 Appraisal guides: American Auto Appraisal, Detroit, Mich., telegram requesting information before designation of guide sent to Mr. Nesbitt Designation for Regulation W, press release re, advice to FRBanks Kelley Blue Book, Los Angeles, Calif., telegram requesting information before designation of guide sent to Mr. Kelley List of regions applicable to designation sent to Mr. Kelley Designation for Regulation W, advice to Auto Finance Company, Denver, Col., re approved Region Extension of designation to cover four additional States, request not granted National Used Car Market Report, Inc., Chicago, Ill., telegram requesting information before designation of guide sent to Mr. Leukhart Northwest Publishing Company, Seattle, Wash., telegram requesting information before designation of guide sent to Mr. Leonard Guide, reply to Mr. Meffley re proposed Automobile Official changes in Publications, territories, and addresses of publishers, advice sent to FRBanks Publishers of, telegrams requesting information before designation sent to Advice re designation for Regulation W sent to Recording and Statistical Corporation, Chicago, III., telegram requesting information before designation of guide sent to Mr. Meffley Regions applicable to designations, lists sent to publishers http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10/22 1809 12/15 2133 6/18 972 6/11 937 4/23 640 12/14 2125 11/15 1902 9/1 1422 9/10 1488 9/1 1422 9/15 1509 9/20 1538 11/16 1928 9/1 1422 9/1 1422 11/24 1979 9/15 1508 9/1 9/10 1422 1489 9/1 9/15 1422 1509 5 Appraisal guides: (continued) Used Car Statistical Bureau, Inc., Boston, Mass., telegram requesting information before designation sent to Mr. Cohan Armament program, discussion at FAG meeting of means of counteracting inflationary pressures that might be created by new Armour and Company, Mr. Young to make tour of meat industry as guest of, expenses to be paid by Board Aspinwall, Mrs. Clarence A.: Children's Hospital Building Fund, reply to request that employees be solicited for contribution Assessments: FRBanks for expenses of Board for last half of 1948 FRBanks for expenses of Board for first half of 1949 FRBanks for purchase of printing presses from Bureau of Engraving and Printing, views requested r,e to Acting Secretary of the Treasury advice Purchase of, Foley Assessment for purchase, advice to FRBanks Assignments of Board members, to be discussed when all members are present Consumer instalment credit added to Mr. Evans' assignment National Security Resources Board matters added to Mr. Eccles assignments, with Mr. Szymczak as alternate Association of Better Business Bureaus, Inc., sponsorship of voluntary standards of advertising re Regulation W, reply to letter from Mr. Nyborg Action re voluntary standards of advertising in connection with, letter to Mr. Nyborg Association of Reserve City Bankers: Bank holding company legislation, representatives to be invited to attend meeting to discuss Conference with staff members of Board, report of Committee on Correspondent Bank Relations re, letter to Mr. Sproul correcting impressions concerning discussion of check collection procedures and other subjects Legislation to authorize Federal Home Loan Banks to borrow from Treasury, question of taking up with Attorney General of United States: Antitrust proceeding against Transamerica Corporation, letter of advice to action to be sent to Children's Crusade, reply to request that employees be solicited for contribution to jurisdiction of foreign funds transferring order Executive control to, statement to be published in FRBulletin procedure, previous arrangement enforcement W, Regulation submitted for reissue of State legislation, no proposals to be submitted to Council of State Governments, advice to Transamerica Corporation, institution of antitrust proceeding against, advice of action to be sent http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pages 9/1 1422 4/27 676 9/21 1542 6/11 946 6/17 12/31 965 2263 10/8 1722 10/18 10/29 1776 1834 6/1 8/13 891 1275 10/8 9/15 1725 1511 10/5 1707 7/6 1086 5/6 714 12/7 2071 5/26 855 6/11 946 9/30 1647 9/2 1425 6/28 1057 5/26 855 6 Pages Attorney General of United States: (continued) Transamerica Corporation: (continued) Letter of advice of action sent 5/27 Antitrust proceeding against, issuance of complaint and notice of hearing, cooperation indicated by, 6/23 copy to be sent to Violations of Federal banking laws occurring in State member banks of FRSystem, prosecution in United States district court rather than in State courts desired, letter to Mr. Clark in connection with ruling of U. S. District Judge at Baltimore 3/5 Audits: Branch, two balance sheet audits of each branch of FRBank of San Francisco to be made during calendar year 2/26 FDIC, of certified statements submitted for assessment furposes by insured banks, experimental program to be extended to Ohio and Pennsylvania 4/15 Experimental program to be extended to Tennessee, advice 12/21 to FRBanks of Atlanta and St. Louis FRBank of Kansas City, scope and quality mentioned in report 12/22 of examination FRBank of San Francisco, audit program of branches to be reviewed, mentioned in connection with report of examination, views of Directors requested 1/13 Two balance sheet audits of each branch to be made during 2/26 calendar year Austin, Texas: Interest cost of bond issue sold by, correspondence between Representative Johnson and Board re telegram and letter of Mayor Miller, FRBank of Dallas 3/25 to handle matter Auto Finance Company, Denver, Colorado, designation of Kelley Blue 9/20 Book for Regulation W, region approved for Automobiles: Board, purchase of new automobile to replace older Chrysler 9/21 approved Bach, George L., Hoover Commission studies, contact to be maintained with Secretary's Office and other 5/18 staff members if necessary for assistance Information re Board members and divisions sent to in con7/1 nection with work on Hoover Commission Report on Board prepared for committee on Independent Regulatory Commissions of Hoover Commission, discussion of question of comment by Board, 8/26 discussions with staff members to be held Statement of Mr. Szymczak re talk with Mr. Bowie and Chairman McCabe, matter to be placed on docket for 8/31 September 7 9/7 To discuss Hoover Commission report with Board Members Hoover Commission report, study on FRBoard prepared by, state11/16 ment of FAC re objectionable points http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 864 992 325 257 588 2173 2184 61 257 449 1538 1545 794 1073 1383 1410 1447 1916 7 Pages Regulation W, reply to letter re discriminatory requirements on furniture and electrical 10/25 appliances Baird, Julian B., Director and Vice President, First Bank Stock Corporation, present at meeting to discuss 9/10 proposed bank holding company legislation Balderston, C. C., report on salaries of FRBank officers, revision, Mr. Evans, as senior member of Personnel Committee to work with Chairmen's 1/9 Conference Committee on Bangert, Harold W., par clearance and payment of interest 12/23 demand deposits, reply to further inquiry inof payment and clearance Bangert & Bangert, Fargo, N. D., par terest on demand deposits, reply to inquiry 12/2 Bank for International Settlements, attitude of NAC toward continuation, included in discussion by Mr. 3/19 Knapp of NAC activities Bank holding companies: Legislation, representatives to be invited to attend meeting 7/6 to discuss Banking quarters: Bank of Carthage, Missouri, no objection to additional invest7/21 ment Bank of New York and Fifth Avenue Bank, New York, N. Y., increased investment in bank premises approved 11/3 Company, Torrington, Conn., additional Trust Bank and Brooks 3/2 investment approved for investment Virginia, West Wardensville, Bank, Capon Valley 9/28 construction of new bank building approved Cincinnati Branch building, procedure for determining cost 8/13 approved, revised form FR 320a requested County Trust Company, White Plains, New York, no objection to change in location of branch office from waiting room of New York Central Railroad Station in Mount Vernon, N. Y., to 300 feet 6/17 away of County Trust Company, White Plains, New York, relocation branches in Mount Kisco and Larchmont, New 7/8 York, approved 3/12 of vault Detroit Branch, no objection to construction walls, of thickness Vault construction, discussion of 4/2 letter to be prepared to approved, building for Final plans and specifications 4/23 be submitted to Board before bids requested inadditional Miss., Farmers and Merchants Bank, Forest, 12/22 vestment in premises approved additional Dakota, South Farmers and Merchants Bank, Huron, investment for expansion and remodeling 8/31 approved apauthorization roof, for expenditure Atlanta, FRBank of 3/29 proved Bahlinger, F. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J., 1814 1484 41 2195 2029 388 1086 1143 1845 291 1625 1285 962 1098 364 503 633 2181 1412 477 Pages Banking quarters: (continued) FRBank of Boston, request for approval for installation of fluorescent lighting and acoustical ceiling, etc., not granted because of magnitude of 1/16 project during present times Proposed improvements, to be postponed because of inflationary conditions and shortages of con2/27 struction materials No objection to replacement of roof over members' court 4/5 FRBank of Chicago, no objection to completion of air condi7/1 tioning FRBank of Cleveland, no objection to expenditure for replacement of casement windows and doors 5/24 FRBank of Kansas City, proposed improvement and extension of air conditioning system, to be postponed be2/27 cause of present inflationary conditiods FRBank of St. Louis, discussion of rehabilitation of Nugent Building, Messrs. Dearmont and Smith to submit proposal for consideration of Board 5/18 meeting on May 21 No objection to expenditure for rehabilitation of Nugent 6/1 Building No objection to conversion of generating equipment to 7/22 emergency status No objection to expenditure for conversion of generating 9/16 equipment No objection to expenditure for completion of rehabilita9/29 tion of Nugent Building FRBanks: Construction work not to be approved when substantial sum involved unless emergency case, letter to be 1/16 prepared by Mr. Smead Extensive alterations or improvements or new building projects not to be undertaken at present ex2/27 cept in emergency cases, advice to FRBanks Emergency electric power, information requested re equip6/2 ment, letter to FRBanks of Information re facilities and plans for evacuation other Government agencies to be obtained before discussion of matter at meeting in 7/20 September be Memorandum from Mr. Bethea discussed, matter to 9/10 placed on agenda for Presidents Conference at discussion Emergency facilities to be topic for 9/15 Presidents Conference disimpossible, considered Uniform treatment of matter 10/5 cussion at Presidents Conference FRBranch banks: Vault construction, discussion of thickness of walls, letters to FRBanks of Atlanta, Chicago, and 4/2 San Francisco to be prepared investto objection no Illinois, Mounds, of Bank First State ment in banking premises mentioned in ex11/17 amination report http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 79 263 539 1072 833 264 795 893 1147 1524 1635 80 265 897 1129 1479 1511 1701 503 1934 9 Pages Banking quarters: (continued) Franklin Washington Trust Company, Newark, New Jersey, addi2/4 tional investment approved Industrial Trust Company, Providence, Rhode Island, additional investment for erecting building for 3/1 Apponaug Branch approved Establishment of branches in Central Falls and Pawtucket, Rhode Island, and additional expenditure for 9/23 banking quarters approved necesplans Jacksonville Branch, modification of preliminary sary for Board approval, letter to FRBank of 1/6 Atlanta to be revised changes, certain to subject Plans for building approved, final plans to be submitted to Board before 1/19 asking for bids walls, of thickness of discussion Vault construction, 4/2 letter to be prepared Construction of building, no objection to installation of equipment for cafeteria service, 30-inch re4/12 inforced concrete walls approved Plans for building, draft of reply to Mr. McLarints letter 5/25 to be prepared Building plans, no further changes to be made in condi6/7 tions stated Plans for new building, further consideration to be deferred, in view of question of widening of 12/30 street Los Angeles Branch, cafeteria facilities and vault construction, letter to Mr. Earhart to be prepared re 1/6 Construction of addition not to be undertaken at present time, but final plans to be prepared for 3/10 submission to Board Construction to be deferred but project not to be jeopar4/1 dized, advice to Mr. Earhart 4/2 Discussion of thickness of walls, letter to be prepared Vaults, construction with 30 inch reinforced concrete walls 4/6 No objection to replacement of defective and condemned 6/28 equipment 7/8 Architect to stop work on proposed addition Marion County Banking Company, Guin, Alabama, investment for 12/27 construction of new bank building approved Smithfield, Merchants and Farmers Bank, Incorporated, 8/5 Virginia, investment approved additional Jersey, Montclair Trust Company, Montclair, New 12/16 investment approved investment additional Michigan, Peninsula Bank of Ishpeming, 3/19 for alteration and improvement approved fluorescent for expenditure to objection no Branch, Pittsburgh 1/8 lighting and acoustical ceiling installation of advance in forwarded be to building in changes Proposed 4/19 visit of Messrs. Brainard and Gidney http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 144 289 1605 16 88 503 571 845 903 2244 18 348 496 503 541 1057 1098 2205 1232 2138 393 32 609 10 Pages Banking quarters: (continued) Pittsburgh Branch: (continued) Plan for sale of existing building, construction of new building and possible acquisition of Speer 4/29 Estate to be investigated by Cleveland Bank Proposed purchase of Speer Estate, information re construction of new building, requested before 10/7 approval 10/28 No objection to purchase of Speer property Portland Branch, cafeteria facilities and vault construction 1/6 letter to Mr. Earhart to be prepared no Board, by Structure and type of outside facing approved 3/8 objection to cafeteria and dining room plans walls, of letVault construction, discussion of thickness 4/2 ter to be prepared walls concrete Vaults, construction with 30 inch reinforced 4/6 approved of Mr. statement emergency, as Building situation regarded 8/4 Eccles Final plans for proposed building approved, FRBank of San Francisco authorized to procure construction 9/2 bids No objection to purchase commitments with Otis Elevator 9/9 Company for elevators in proposed building prepared be to specifications and plans final Seattle Branch, and submitted to Board, no objection to provision for cafeteria and dining room facilities 3/5 Vault construction, discussion of thickness of walls, 4/2 letter to be prepared Vaults, construction with 30 inch reinforced concrete 4/6 walls approved Plans for proposed building approved, FRBank of San Fran8/3 cisco authorized to obtain construction bids Building situation regarded as emergency, statement of Mr. 8/4 Eccles No objection to purchase commitments with Otis Elevator 9/9 Company for elevators in proposed building No objection to acceptance of bids for steel for proposed 11/3 building 12/31 Procedure re obtaining bids for building approved Security Bank and Trust Company of Beaumont, Texas, proposed 3/10 investment approved State Bank of Albany, New York, establishment of branch in Watervliet, New York, approved in connection with absorption of National Bank of Watervliet, and additional investment in bank premises also approved 11/19 Additional investment in bank premises approved Union Trust Company, Providence, Rhode Island, additional in8/27 vestment approved reinforced inch 30 with Vaults of FRBranches, construction concrete walls approved, advice to FRBank of 4/6 San Francisco http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 684 1715 1831 18 332 503 15 24 24 1 1434 1475 326 503 1E 1475 1848 2266 347 371 1Z 1397 541 11 Pages Banking schools, statement of policy as to attendance by officers and employees of FRBanks and payment of their 6/18 expenses Banking Studies, reprinting and distribution of, approved 2/18 Bargman, Theodore, trailer coach financing, reply to inquiry re 4/26 Barr, Dr. E. Osmun, discontinuance of arrangement to make physical 5/21 examinations for Board Advice of discontinuance of arrangement 6/10 Barthold, Merriam B., Philadelphia Stock Exchange, reports of margin requirements met by liquidation, not necessary to keep for more than two-year 3/16 period, advice to Basing point pricing system, study of effect on cement industry in 9/29 South discussed Decision of Supreme Court in Cement Company Case, discussion 11/5 of study of effect of decision 7/7 Baumgardner, Russell H., margin requirements, reply to letter Beckman, Theodore N., consumer credit statistics, reply to letter re formation of committee and suggested meeting with Board representatives, Mr. 7/6 Bonnar Brown to work with Reply to letter re meeting with Board representatives to dis7/30 cuss Bellino, Carmine S., request from Senate Investigations Subcommittee for permission to examine personnel 8/24 file of Lauchlin Currie Permission granted to examine personnel file of Lauchlin Currie 8/25 as no loyalty investigative data included in Bendix Automatic Washer Commercial Model C, applicability of Regu10/15 lation W to Besse, Harry W., Boston Stock Exchange, reduction in margin re3/16 quirements, reply to letter Bethlehem Steel Corporation: Meinel, William J., discussion of connection with, in consideration of proposed appointment as Class C Director and designation as Chairman and 6/25 FRAgent at FREank of Philadelphia Board of Governors: Absences of members and official staff, procedure for inform11/19 ing Board approved to transmitted to be approved, Annual report for 1947, Speaker of House over signature of Mr. Eccles, 4/23 Chairman pro tem. consideration 5/14 for primary Assignment of subjects older replace automobile to new purchase of Automobiles, 9/21 Chrysler approved Budget: 1949 approved tentatively, procedure to be considered at 12/31 early meeting Board Members' Section, $300 added to item of Printing 1/19 and Binding in 1947 non-personal budget http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 970 223 654 825 930 372 1628 1856 1094 1090 1186 1374 1377 1772 371 1035 1950 640 770 1545 2262 89 12 Board of Governors: (continued) Pages Budget: (continued) Board Members Office, increase approved to cover cost of stenographic transcript of hearings on nom680 4/27 ination of Mr. McCabe To be increased to cover expense of group photographs 9/8 1469 of Board Members Printing and Binding Amount to be added to items of 9/22 1600 and Stationery and Supplies of 1948 budget Traveling Expenses Counsel's Office, addition to item of 1065 6/30 in 1948 budget approved $250 to be added to item of Furniture and Equipment 1623 9/27 in 1948 budget Division of Administrative Services, $200 added to item of Heat, Light and Power in 1947 non-personal 89 1/19 budget To be increased to cover cost of reprints and dis2/18 223 tribution of Banking Studies To be increased to cover cost of equipment for serv327 ing luncheons in Board members' offices 3/5 $2,000 added to item of Printing and Binding in 1948 3/29 477 non-personal budget To be increased to cover expense involved for tennis 731 courts 5/7 Cost for luncheon for fiscal and financial writers of 911 6/8 Washington to be charged to To be increased to cover cost of reception for all 6/15 employees 953 Cost of installation of code warning signal to dictaphone equipment in Secretary's Office to be 7/1 1074 charged to current year's budget To be increased to cover expense of stenographic transcripts of testimony of Messrs. McCabe, Eccles, Sproul, Young, Leedy, and Williams before Senate and House Committees on Banking 1398 8/27 and Currency for govTo be increased to cover costs of luncheons ernors of International Monetary Fund and 1480 9/10 International Bank automobile 9/21 1546 new To be increased to cover cost of Amount to be added to cover cost of dinner for State Chairmen of Advisory Committee of Savings 10/13 1757 Bond Division of Treasury Expressage, and Postage Amounts to be added to items of Telephone and Telegraph, Stationery and Sup10/20 1794 plies, and Miscellaneous for 1948 for Chairmen's of dinner cost cover To be increased to 2035 12/3 Conference added to item of be to $75 of Bank Operations, Division Repair and Maintenance (Furniture and Equip1/20 93 ment) in 1947 non-personal budget Addition of sum to Miscellaneous item in 1948 budget 1148 7/22 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 13 Pages Board of Governors: (continued) Budget: (continued) Division of Bank Operations: (continued) Salary of Mr. Pawley to be charged to for period of 10/28 work on Regulation W Traveling expenses of Mr. Cherry in connection with 10/28 Regulation W to be charged to Amounts added to increase various items in 1948 non11/10 personal 11/17 Amount to be added to item of Printing and Binding Division of Examinations, to be increased to cover cost approved for computing figures on Group 2 corporate securities published by Moody's, Fitch, National Quotation Bureau, and 10/19 Standard & Poor's increased.to Division of Personnel Administration, to be 11/22 cover cost of memorial plaque for employees emfor party Christmas To be increased to cover 12/7 ployees to added be to $7,000 Statistics, Division of Research and Miscellaneous item to cover cost of supplementary work in connection with 1948 Survey 2/16 of Consumer Finances To be increased to cover grant to Iowa State College 4/23 for monetary conference To be increased to cover cost of entertainment and fees for conference of Special Libraries 5/7 Association Amount to be charged to cover reimbursement to Mr. John B. Grant for deposit forfeited in order to 9/22 assist Board in work on Regulation W Funds to provide for compensation and travel for Mr. Musgrave in connection with studies re war10/1 time economic stabilization Secretary's Office, $500 to be added to Miscellaneous 10/6 classification in 1948 budget Increases approved for Telephone and Telegraph, Stationery and Supplies, and Miscellaneous 11/1 items in 1948 Amount to be added to item of Repairs and Maintenance 11/17 Solicitor's Office, to be au•nitted through Division of 12/6 Administrative Services Building: Emergency electric power and evacuation in event of attack, information re plans of other Government agencies to be obtained before discussion at 7/20 meeting in September Mr. from memorandum facilities, Electric power, emergency Bethea discussed, question to be referred to 9/10 Mr. Draper http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1829 1830 1890 1938 1786 1958 2068 190 629 721 1599 1665 1712 1840 1938 2062 1130 1479 14 Pages Board of Governors: (continued) Building: (continued) Space, Office of Contract Settlement to be asked to vacate some, matter referred to Mr. Draper 3/30 Commission on Organization of Executive Branch of Government, space to be made available for, matter referred to Mr. Draper 3/30 Office of Contract Settlement, letter to Mr. Spingarn requesting Appeal Board to vacate 4/2 Space to be assigned for use of Commission on Organization of Executive Branch of Government, advice to Mr. S. A. Mitchell 4/5 Hoover Commission, additional space needed, program for release of space by Office of Contract Settle5/18 ment to be continued Office of Contract Settlement, release for use by HooVer Commission, discussion, program to be pursued 5/18 Space to be available for study of savings sponsored by life insurance companies 9/14 Tennis courts, expenditure for restoring surface and for maintenance of courts and equipment approved, Reserve Board Club to continue supervision 5/7 Christmas party for employees approved, committee to arrange entertainment and budget of Division of Personnel Administration to be increased to 12/7 cover Correspondence: Miscellaneous, procedure for handling through Secretary's Office, discussion of, matter referred to 9/21 staff for consideration and recommendation Counsel's Office: Organization changes discussed, recommendation to be made 12/3 by Personnel Committee Security underwriters, review to be made to determine if 1/16 "primarily engaged" in underwriting business To take over legal work on Division of Security Loans 3/23 Transamerica Corporation, to continue to assemble material 5/27 for hearing Dining rooms, reservations to be made by Board members for twc or more guests in blue room or staff dining 1/30 room, to avoid crowding in brown room referred to Mr. be matter to Discussion of problems re, 2/26 Draper for recommendation procedure aprooms, private Future use of Brown and Blue proved for period of 60 days 3/9 further action re use to be discussed in execuQuestion of 5/14 tive session at later date members and Board official of for use Brown room Private, guests from FRBanks, suggestion of Mr. Szymczak, Mr. Draper to submit recommendation 6/8 for consideration at meeting on June 25 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 483 483 531 540 793 793 1501 731 2068 1545 2044 78 416 863 135 256 337 780 908 15 Pages Board of Governors: (continued) Dining rooms: (continued) Continuation of existing temporary arrangement approved 6/22 Existing arrangement to be continued with addition of clause concerning use of Brown and Blue 10/22 rooms Division of Administrative Services, authorized to pay costs of revision of Board's retirement 3/23 system Amount added to cover cost of dinner at Burning Tree 6/10 Club for Presidents . Authorized to advance funds for travel up to $500 10/18 Division of Bank Operations: Regulation W, work performed by Division of Security Loans to be transferred to, under direc9/10 tion of Mr. Leonard, advice to FRBanks Representatives of FRBanks to participate with representatives of, in field survey of opera11/23 tions of FRBanks Division of Examinations, to continue work re Regulation U upon discontinuance of Division of Secu3/23 rity Loans to conduct Administration, designated Division of Personnel investigation of new employees and to request FBI to conduct full field investigations in connection with Employees Loyalty 1/6 Program Division of Research and Statistics: Bangkok, Siam, application of Bank of America to establish branch in, memorandum re area to be 11/16 prepared by member increase action to in Factors to be considered bank reserve requirements, memorandum to 10/22 be prepared Interest rates on loans to businesses, revised reporting form for collecting information, correspondence from FRBanks to be carried on with 1/8 International Section, survey of salary structure of international offices of other Government departments and agencies in relation to requested by Mr. Knapp, memorandum re5/14 ferred to Personnel Committee Organization structure and future classification of senior positions to higher grades approved 12/17 National Advisory Council, semi-monthly written report 3/5 to be made on activities by Organization of staff, proposed change discussed but not recommended by Personnel Committee, Mr. McCabe to discuss matter further with Mr. 4/23 Thomas and Personnel Committee of Security Division To take over statistical work of 3/23 Loans http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 987 1803 406 931 1777 1478 1963 416 20 1924 1804 30 778 2152 328 647 416 16 Pages Board of Governors: (continued) Division of Security Loans, to be discontinued upon retirement of Dr. Parry, functions to be performed by Legal Division and Divisions of Research and Statistics and Examinations Docket for meetings: Legislation of noncontroversial nature, to be considered at meeting in September or October Reserve requirements, proposed increase suggested in Treasury financing program letter, matter to be considered after Labor Day, discussion of effective date, question. to be on docket for September 7 Employees and offices in each State, reply to request of Senator Langer, Chairman of Committee on Post Office anu Civil jervice for compilation of Employees Loyalty Program, procedure approved Expenses: Assessment on FRBanks for last half of year Assessment on FRBanks for first half of 1949 Payment for reception for all employees approved Retirement system, lump sum payment to cover costs of revision of Board plan Flags, American and service on display, to be removed and stored Functions, internal "house-keeping", statement re sent to Library of Congress International Section, review of salaries and organization to be made by Mr. Johns in collaboration with Messrs. Thomas, Nelson, Morrill, and Riefler Report by Mr. Johns discussed, to be used in working out problems of organization and classification of employees List of memoranda and publications, suggestion that notice of visits by officers and directors of Reserve Banks be placed on daily, Secretary's Office to notify Board members without putting on Loyalty Board, members and alternates appointed Loyalty program, status, letter to Civil Service Commission 'Written interrogations authorized for use of Loyalty Board to obtain information frow employee http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3/23 416 7/27 1169 8/10 1256 4/12 1/6 570 20 6/17 12/31 6/15 965 2263 953 5/27 866 11/22 1958 1/15 69 6/11 938 7/7 1092 4/2 1/6 502 24 3/31 492 6/18 966 17 Pages Board of Govrirnors: (continued) Loyalty procedures, amendment approved, favorable reports to be made to Chairman of Personnel Commit7/22 tee by Loyalty Board Procedures for Administration, revised draft approved 9/23 Luncheons in Board members' offices, procedure for serving and purchase of equipment necessary 3/5 for, approved Meetings: 6/1 Attendance of staff, procedure approved Chairman pro tem., Mr. Eccles to serve during absences of Chairman and Vice Chairman and Senior member of Board to act in absences 8/13 of all three 1/30 Executive session 3/5 Executive session 4/2 Executive session 4/23 Executive session 5/7 Executive session 5/14 Executive session Procedure to expedite discussions, memorandum re, copy to be furnished Board members for 12/7 use in connection with future Quorum, maintenance of, to be discussed when all 6/1 members present Schedule, suggestion of Mr. Vardaman that days for regular meetings be fixed as Tuesday and Thursday, discussion of, no change to be 3/5 made in present Suggestion of Mr. Vardaman that days be Tuesday and Thursday, discussion, no action taken 5/10 to change existing arrangement each held Tuesday and Friday meetings to be week unless change approved unanimously by Board, matters of special interest to absent member to be deferred until present 9/29 at meeting if requested reserve in increase on act to Springs, Yhite Sulphur 5/27 requirements of central reserve cities discuss to Virginia, West Springs, White Sulphur proposed increase in reserve requirements 5/29 of member banks in central reserve cities http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1145 1607 327 882 1274 136 327 532 645 732 782 2075 891 307 743 1631 861 877-9 18 Pages Board of Governors: (continued) Members: Absences, procedure for advising other members of contemplated, to be discussed 6/1 Procedure for affording absent member opportunity to express views on matters before action taken, to be discussed 6/1 Procedure for informing all members of contemplated, approved, matter to be handled by Secretary's Office 6/8 Important matters to be placed on agenda far enough in advance to enable absent members to be present at meeting or to submit views to Secretary for presentation at meeting 6/25 Procedure adopted on June 8 to be continued,' quorum in Washington or on call on short 6/25 notice made available by use of Procedure for information re approved 11/19 assignments of subjects for primary consideration, to be discussed when all members present 6/1 On temporary trial basis at present, to be reconsidered when vice chairman is designated 6/25 Procedure to improve results of, cony of memorandum to be furnished to Board members to be used in connection with future meetings 12/7 Chairman pro tem., senior member of Board to be elected to serve as during future absences of Chairman, Vice Chairman, 8/13 and Mr. Eccles Clayton, Lawrence: ABA pilot meetings re credit expansion, state2/17 ment re Absent from public hearing re Transamerica case 12/13 because of question of qualification Alternate for Mr. Evans on Consumer instal8/13 ment credit assignment 5/14 Assignment of subjects for initial consideration Attendance at conference of D.C.Bankers Association at White Sulphur Springs, payment to Mr. Dooley approved in connection with 4/29 company legislation, to attend holding Bank 7/6 meeting in September to discuss Bank of America, conference with Messrs. Delano and Marl re application for foreign branches 8/31 in Germany Condition of banks, information requested by large depositors, matter to be stuLded 2/6 further http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 891 891 910 1043 1043 1950 891 1043 2075 1274 212 2108 1275 773 691 1086 1.408 154 19 Pages Board of Governors: (continued) Members: (continued) Clayton, Lawrence: (continued) Conversion of national banks into State banks, legislation re, views of Board to be discussed with Mr. Rapport at suggestion of Mr. Harl 'before sending letter to ABA Custody receipts as collateral for advances to member banks, policy re acceptance, to be discussed with Presidents before action by Conference Eight days per diem authorized in connection with trip to New England Establishment of branch in Siam by Bank of America, meeting with messrs. Delano and Harl to be arranged to discuss Examination policy of FRBanks, discussion of variations, matter to be studied further Del,no, Exoliin,..tion procedure, uniiori,, to luncheon to Han, and Cook invited discuss FRAgent, return to policy of appointing fulltime Chairmen and, suggestion of Mr. Vardaman, recommendation to be submitted by H.R. 2799, to make changes in Federal Home Loan Banking System, opposition of Board to, matter to be discussed with FDIC and Treasury officials and Mr. L'Heureux of Senate Banking and Currency Committee H.R. 2799, to obtain views of Treasury and FDIC re sending letters opposing, Board to send letter to Chairman of Senate Banking and Currency Committee if other letters not to be sent at once Home Loan Bank Legislation and S. 2417, report on status of Inter-Agency Committee) authorized to call meeting to consider changes in 1938 agreement as to uniform examination procedure Participation in Transamerica case, qualifications questioned by Mr. Stewart Payment of hotel bill approved Present at meeting with representatives of holding company groups to discuss proposed legislation Regulation W, amendment re modernization loans, statement favoring Reserve requirements, increase, to prepare second draft of letter to Chaira.en to correct erroneous impressions http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/23 2193 5/7 726 6/28 1053 12/31 2247 1/6 19 7/6 1086 12/21 2163 5/7 728 5/10 744 5/26 849 5/27 874 10/8 10/11 1721 1736 9/10 1483 10/22 1802 6/22 984 20 Pages Board of Governors: (continued) Members: (continued) Clayton, Lawrence: (continued) 8.2417, to reduce rate of assessment for insurance of savings and loan shares, report re developments 6/1 To appear at hearings re Hawaiian Statehood bill and to ascertain if Chairman of Senate Banking and Currency Committee -would be willing to send letter to Committee on Interior and Insular Affairs re 4/14 To draft acceptance statement for invitation to participate in ABA program to prevent credit expansion 1/9 Transamerica Corporation, expansion, letter ' to Comptroller re Bank of America, discussion with Mr. Thurston over telephone, redraft of letter transmitted by wire 8/19 with Colaptroller atemiant re ewiference of the Currency re expansion policy 8/24 Further developments to be reported to Board by 8/24 To discuss further with Mr. relano at conference of National Association of Supervisors of State Banks in Louisville, Kentucky 9/20 Transamerica proceeding, motion filed to disqualify for, discussion and decision re 12/3 Motion to discualifY, no present disposition to be made of, but to refrain from 12/6 participation in Draper, Ernest G.: Alternate member of committee for consultation re statement on economic basis of Fed10/12 eral Reserve policy 5/14 Appointment as member of Personnel Committee Assignment of subjects for initial consideration 5/14 Credit information re importers of Japanese products and prospective exporters to 10/15 Japan, to be in charge of procedure re Designation as member of board of trustees of Retirement System of FRBanks 5/14 2/26 Dining rooms, problems re, matter referred to Elected Chairman pro tem. for part of meeting in absence of Mr. McCabe 4/29 Electric power, emergency facilities at Board, 9/10 question referred to Federal Loan Policy Committee, letter re 12/28 cLpprovek., Housing legislation, to meet with staff members and with Housing and Home Finance Agency for discussions 5/18 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 882 582 46 1332 1366 1371 1535 2041 2055 1744 774 771 1773 775 256 684 1479 2219 791 21 Pages Board of Governors: (continued) Members: (continued) Draper, Ernest G.: (continued) Legislative proposals, alternate member of committee for consultation re 11/17 Margin requirements, discussion of transfer of work of Division of Security Loans to Legal Division and to Division of Research and Statistics 3/23 Reserve requirements legislation, opposition to payment of interest on reserve deposits in favor of special reserve plan 12/31 Retirement system, investment policies to be discussed with Chairmen's Conference Committee when in Washington 9/21 Third alternate on executive committee of FOMC 5/14 Transamerica hearing, statement re preference 10/1 for private hearing Eccles, M. S.: Absent from public hearing re Transamerica case, having disqualified himself as participant 12/13 in proceeding Appointment of Mr. Lunding as Class C director of FRBank of Chicago and designation as Chairman and FRAgent, not in favor of, report of Mr. Carpenter re telephone con12/21 versation with Appointment of Mr. Waymack as Class C director of FRBank of Chicago and designation as 12/21 Chairman and FRAgent, in favor of Consumer durable goods, statement at FAC meet11/16 ing re expenditures for Elected Chairman pro tempore pending designation by President of Chairman and Vice Chair2/3 man Elected Chairman pro temp in absence of Mr. 5/20 McCabe Elected Chairman pro tem., to serve during ill5/27 ness of Mr. McCabe Elected to serve as Chairman pro tem, during future absences of Chairman and Vice 8/13 Chairman Examination policy of FRBanks as instrument of credit policy, variations discussed, 1/6 statement re Federal Loan Policy Committee, letter re approved if regulation of margin requirements and 12/28 consumer credit excluded from Hoover Commission, report prepared on Board by Mr. Bach, copy received by, memo of views expressed to Messrs. Bowie and Mitchell 8/26 being written http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1931 418 2248 1546 774 1653 2108 2166 2166 1909 142 806 858 1274 19 2219 1383 22 Pages Board of Governors: (continued) Members: (continued) Eccles, M. S.: (continued) Housing credit, statement to Joint Committee on Economic Report and letter to Treasury re, proposed letter to Representative Gamble calling attention to, discussion, matter referred to Messrs. Eccles and Szymczak Legislative proposals, member of committee for consultation Letter to Mr. Giannini and procedure re approved Member of executive committee of FOMC Member of committee for consultation re state1ment on economic basis of Federal Reserve policy National Security Resources Board, matters in connection with, added to assignments of Reply to Mr. Tobey on furnishing Transamerica correspondence, no action until discussed vIth Report on testimony before Senate Banking and Currency Committee Reserve requirements, increase, in favor of action to make effective June 11, 1948 Reserve requirements, increase in, statement of reasons for action to be prepared for policy record Reserve requirements, increase, discussion of letter to Chairmen to correct erroneous iillpressions Reserve requirement increase, statement re preference concerning reply to Mr. Stevens re action Reserve requirements, increase, opposed to legislation for member banks only Reserve requirements, proposed increase, views stated in telephone conversation with Mr. Morrill Reserve requirements increase, statement of views given by Mr. Morrill after telephone conversation Statement of responsibilities of directors, revision, prompt action urged Statement re inflationary situation before Joint Committee on Economic Report, April 13, 1948 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/6 155 11/17 1931 8/3 5/14 1211 774 10/12 1744 10/8 1725 4/25 444 8/2 1191 5/27 859 6/1 890 6/22 983 6/25 1043 7/27 1166 9/7 1.452 9/8 1463 3/5 318 4/2 507 23 Pages Board of Governors: (continued) Members: (continued) Eccles, M. S.: (continued) Testimony before Joint Committee on Economic Report re special reserve plan and increase in reserve requirements, discussion at meeting of FAC To appear before Joint Committee on Economic Report to make statement re actions to combat inflation To serve as meml-er or Committee on N. A. C. Matters To testify before Banking and Currency Committee of House Transamerica hearing, statement re preference for public hearing Participation in Transamerica case, qualifications questioned by Mr. Stewart Transamerica proceeding, motion filed to disqualify for, discussion and decision re Evans, R. M.: Absent from Board meeting to preside as hearing officer at Transamerica hearing Assignment of subjects for primary consideration Attendance at meeting of bankers at Winchester, Va. Authorized to incur such expenses as necessary in connection with Transamerica case Balderston Report, revision, to work with Chairmen's committee on Central banking seminar for university and college teachers of money and Banking, to explore proposal and submit recommendation Chairmen's Conference, designated to act as liaison with, for matters of current interest to System Chairmen's Conference, present at meeting of executive committee, statement re manner propose0 to keep Chairmen informed of matters of current interest to System Commodity Credit Corporation, question of increasing interest rates for banks, discussion with Mr. Bartelt, further reports to be made at next Presidents Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4/27 666 3/9 342 5/14 774 8/3 1209 10/1 1654 10/8 1720 12/3 2041 12/7 2068 5/14 772 12/7 2080 12/6 2060 1/9 41 11/9 1877 1/9 43 1/16 75 11/5 1855 24 Pages Board of Governors: (continued) Members: (continued) Evans, R. M.: (continued) Commodity Credit Corporation policy re loans and division of interest, comments at Presidents Conference Consumer instalment credit, subject to be added to assignments Credit controls, recommendations for legislation, letter to Chairmen requesting suggestions to be prepared by Designated as member to receive evidence during hearing on Transamerica Corporation Hearing officer for Transamerica cgse, capability questioned by Mr. Stewart, Counsel for' Transamerica First alternate on executive committee of Fomr Luncheons for State bankers, association, statement in favor of continuing practice Memorandum on procedure by Research staff in submitting and distributing reports Regulation V, recommendations of provisions to be included in new Regulation 1.1, statement of bankers re Reports of research staff, procedure to be followed in submitting reports and recommendations, to be discussed with Mr. Thomas Reports and recommendations, submission and distribution by research staff, recommendation re Reserve requirements of member banks in central reserve cities, increase favored by Reserve requirements, in favor of increase to be made promptly Reserve requirements, proposed increase, views stated in telegram Reserve requirements, increase, statement of views given by Mr. Morrill after telephone conversation To be prepared to discuss consumer credit legislation before House Banking and Currency Committee To testify re consumer credit legislation before House Banking and Currency Committee http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/1 2018 8/13 1275 7/20 1132 5/27 862 10/8 5/14 1720 rw-sz 2/19 236 10/8 8/13 9/7 1725 1276 1453 10/1 1664 10/15 1768 4/23 625 5/27 861 9/7 1453 9/8 1463 7/30 1180 8/2 1199 25 Pages Board of Governors: (continued) Members: (continued) McCabe, Thomas B. Absent from meeting because of illness Absent from meetings at White Sulphur Springs because of illness Appointment as Chairman of Executive Committee of FOMC Appointment as member of Personnel Committee Article by Doris Fleeson in Evening Star giving votes of Board members on changing of statement before House Banking and Currency Committee, discussion of, but no action taken Assignment of subjects for initial consideration Attendance at meeting of bankers at Winchester, Va. Bank holding company legislation, to arrange for meeting to discuss and to extend invitations Cement Company case, to discuss question of study re basing point pricing by FRBank of Atlanta with Mr. Neely Conference with Dr. Naurse, absent from meeting to attend FAC discussion of business situation, statement re satisfaction with type of discussion FRBank of St. Louis, official personnel problem to be discussed with Mr. Dearmont when in Washington Hoover Commission, report on Board prepared by Mr. Bach for, question of comment by Board, discussion with Mr. Sgymczak Invitation to attend meeting of Investors League Legislative proposals, member of committee for consultation Letters referred to at hearing before Banking and Currency Committee in connection with nomination to Board, copies sent to Senator Maybank Member of committee for consultation re statement on economic basis of Federal Reserve policy Nominated for unexpired portion of term and to be designated Chairman Present as Chairman designate, at meeting of FAC with Board Present as Chairman designate, at Presidents Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5/27 858 5/29 877 5/14 5/14 774 774 8/4 5/14 1225 770 12/7 2080 7/6 1086 11/5 1857 12/17 2146 11/16 1915 11/23 1966 8/26 8/2 1383 1202 11/17 1931 6/11 940 10/12 1744 1/30 136 2/17 192 2/27 267 26 Pages Board of Governors: (continued) Members: (continued) McCabe, Thomas B.: (continued) Present at meeting with representatives of holding company groups to discuss pro9/10 posed legislation Report of discussion with Mr. Creighton re 10/27 selection of successor to Mr. 'Jhittemore Report on meeting with Dr. Nourse to discuss budget and legislation to be proposed by 12/14 President Request by Mr. Nourse to attend meetings to discuss long-range policy problems in connection with economic problems of 11/23 Government Requested to testify before Joint Committee 5/21 on the Economic Report Reserve requirements, views of FAC requested before testimony before Congressional 4/27 committees sent on statement study requirements Reserve to Joint Committee on Economic Report 5/71 at re-uest or Dr. Hartincrease, letter proposed Reserve requirements, 6/1 stating views re action at present time Reserve requirements, to discuss anti-inflation program outlined in letter with Secretary 7/23 Snyder statement in, Rea:rve requirements, increases re calling of meeting of executive committee 9/7 of FOMC in connection with Reserve requirements legislation, statement re meeting of Dr. Noursefs committee, Congress to be requested to provide additional 12/31 authority covering all insured banks before program anti-inflation Statement re Banking and Currency Committees, revision to include nonmember banks in proposed legislation approved by Board after dis8/2 cussion welcomed be to problems System Suggestions re from directors of FRBanks, letter to Chairmen requesting comments re reserve 4/26 requirements of commercial bunks of Senator request nomination, Testimony on Tobey for material affecting interests of Transamerica Corporation and Bank of 3/24 America http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1483 1824 2115 1969 809 672 oln 885 1150 1448 2250 1188 649 433 27 Pages Board of Governors: (continued) Members: (continued) McCabe, Thomas B.: (continued) To appear before Senate Banking and Currency Committee to testify on anti-inflation program, statement approved after sub7/29 mission to all Board members To attend meeting of National Association of Supervisors of State Banks in Louisville, visit with Mr. Giannini to be after return in Board's offices if 9/21 desired by Mr. Giannini To discuss reappointment of Messrs. McLarin and Clark as President and First Vice President, respectively, at FRBank of 5/25 Atlanta with Mr. Neely To serve as member of Committee on N.A.C. 5/14 Matters To telephone Mr. Giannini at hospital and 9/10 issue invitation to call at Board To testify on anti-inflation program before House Banking and Currency Committee, 7/30 discussion of statement Transamerica Corporation proceeding, discussion 11/15 with Mr. L. M. Giannini when all discussed of, to be maintenance Quorum, 6/1 present Maintenance of, absence procedure adopted to insure quorum in Washington or on call 6/25 on short notice Szymczak, M. 8.: Absent from meeting because of appointment at International Bank for Reconstruction 11/29 and Development Alternate member of committee for consultation re statement on economic basis of Federal 10/12 Reserve policy Assignment of subjects for initial considera5/14 tion Class C directors, resumption of practice re invitation to Washington before appointment and visit by Board member to FRBank 3/5 when director sworn in, suggested Designation of Mr. McCormick as Chairman and FRAgent at FRBank of Richmond, action not 12/23 voted on by Dining rooms, opposition to procedure for future 3/9 use of Brown and Blue private rooms http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1177 1559 843 774 1485 1179 1901 891 1043 1984 1744 771 321 2187 337 28 Pages Board of Governors: (continued) Members: (continued) Szymczak, M. S.: (continued) Dining rooms, use of private, statement re opposition to present system Dining rooms, statement re preferred arrangement for use of Brown and Blue rooms Elected Chairman pro tempore during absence of Chairman Eccles on vacation Legislative proposals, alternate member of committee for consultation Member of executive committee of FOMC Member of committee to make recommendation re foreign missions and assistance of staff National Security Resources Board, alternate for Mr. Eccles in work with Requested by Secretary Snyder to act as deputy on committee appointed during meeting of Governors of International Bank Reserve requirements, proposed increase, statement of reasons for opposition to action at present Speaking engagement in Illinois, question of increase in reserve requirements to be postponed until meeting on November 23 Speeches to be made in future, no objection to Statement of responsibilities of directors, delay in revision and submission at Chairmen's Conference suggested To be recorded as in favor of appointment of Mr. Meinel as Class C director at FRBank of Philadelphia To investigate appointee as successor to Mr. Avery when in Chicago To serve as member of Committee on N.A.C. Matters Transamerica Corporation, expansion, authorized to make statement to Secretary Snyder re views of Board in connection with press statement and additional branches of Bank of America Vardaman, J. K., Jr.: Absence from meeting because of hospitalization Appointmemt as member of Personnel Committee Assignment of subjects for primary consideration Correspondence, miscellaneous of Board, procedure for handling, discussion Custody receipts as collateral for advances to member banks, policy re acceptance, to be discussed with Presidents before action by Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/22 988 10/22 1803 3/12 359 11/17 5/14 1931 774 10/19 1783 10/8 1725 10/4 1672 6/1 883 11/5 12/7 1860 2081 3/5 318 6/8 908 11/5 5/14 1858 774 8/19 1332 3/19 5/14 5/14 386 774 772 9/21 1545 5/7 726 29 Pages Board of Governors: (continued) Members: (continued) Vardaman, J. K., Jr.: (continued) Directors, new, invitation to Washington to meet Board members and staff, suggestion discussed but no conclusions reached ECA request for services of FR9ank of New York as fiscal agent, limited services discussed in order not to deprive commercial banks of business, statement re FRAgents, return to policy of appointing full time Chairmen and, suggestion re, recommendation to be submitted by Mr. Clayton and FRBank of St. Louis, personnel problems of official staff, discussion with Mr. Davis and advice re Board's procedure to be followed Fiscal Agency Conference at Swampscott, Mass., to be attended by Luncheons for State bankers' associations, statement re expense of Meetings of Board, suggestion that regular meetings be held on Tuesday and Thursday, discussion but no change to be made in present schedule Meetings of Chairmen's Conference outside of Washington, to propose policy of holding meetings in Washington or at FRBanks in future Meetings of Board, to be held on Tuesdays and Thursdays, suggestion discussed but no action taken to change existing arrangement Memoranda, copies for Board Members, discussion of means for making legible, matter to be discussed further Messengers, use for serving lunches in Board members' offices, opposition to Officers of branches of FRBanks or senior examining staff, changes to be discussed with Board before action, suggestion re Public addresses by Board members other than Chairman and staff members, statement re in connection with desire for coordinated travel program Regulation V, question of tightening terms of, referred to Mr. Clayton Regulation W, amendment re modernization loans, in favor of studying matter further http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4/7 545 11/23 1963 12/21 2162 10/1 1663 4/1 495 2/19 236 3/5 307 4/14 577 5/10 743 7/13 1114 3/9 337 8/24 12/7 1365 2078 8/24 1373 10/22 1802 Board of Governors: (continued) Members: (continued) Vardaman, J. K., Jr.: (continued) Reserve requirements, increase by 2 percentage points, to be recorded as in favor of Reserve requirements, uniform, memorandum re importance of subject and suggestion that it be discussed with Federal Government and State agencies as well as banking and industrial associations Reserve requirements, increase, motion to be made on September 7 by Reserve requirements, increase, not to ask for vote on motion at present meeting Reserve requirements legislation, opposition to payment of interest on reserve balances, deletion of paragraph in statement for President recommended Retirement system, investment policy, statement re obligation of Board to guarantee benefits Second alternate on executive committee of FOMC Statement opposing establishment of branches at Bremen, Frankfurt-am-Main, and Hamburg, Germany, by Bank of America Travel regulations, recommendation that approval of Personnel Committee not be required for Board members' official trips, matter referred to Personnel Committee Travel, information requested re, recommendation re official coordinated program to be submitted by Vice Chairman, assignment of subjects for initial consideration Minutes approved: December 31, 1947 January 2, 1948 January 5 January 6 January 8 January 9 January 12 January 13 January 14 January 15 January 16 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 30 Pages 1/9 40 5/7 724 8/24 1371 9/7 1458 12/31 2252 10/1 1659 5/14 774 8/20 1343 9/14 1498 12/7 2079 5/14 771 1/2 1/5 1/6 1/8 1/9 1/12 1/13 1/14 1/15 1/16 1/19 1 7 25 27 48 55 58 64 68 81 87 31 Pagez, Board of Governors: (continued) Minutes approved: (continued) January 19 January 20 January 21 January 22 January 23 January 26 January 27 January 28 January 29 January 30 February 2 February 3 February 4 February 5 February 6 February 10 February 12 February 13 February 16 February 17 February 17 (With Federal Advisory Council) February 18 February 19 February 20 February 25 February 26 February 27 February 27 (With Presidents of FRBanks) March 1 March 2 March 3 March 4 March 5 March 8 March 9 March 10 March 11 March 12 March 15 March 16 March 17 March 18 March 19 March 22 March 23 March 24 March 25 March 26 March 29 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/20 1/21 1/22 91 94 99 1/23 1/26 1/27 1/28 1/29 1/30 2/2 2/3 2/4 2/5 2/6 2/10 2/12 2/13 2/16 2/17 2/18 2/18 2/19 2/20 2/25 2/26 2/27 3/1 3/1 3/2 3/3 112 114 116 126 127 137 138 142 144 147 159 162 170 183 190 218 221 221 237 244 252 257 261 289 289 291 299 3/4 3/5 3/8 3/9 3/10 3/11 3/12 3/15 3/16 303 322 329 342 346 350 359 365 370 3/17 3/18 3/19 3/22 3/23 3/24 3/25 3/26 3/29 3/30 376 381 392 396 430 438 446 456 473 478 Board of Governors: (continued) Minutes approved: (continued) March 30 March 31 April 1 April 2 April 5 April 6 April 7 April 8 April 9 April 12 April 13 April 14 April 15 April 16 April 19 April 20 April 21 April 22 April 23 April 26 April 27 April 27 (With Federal Advisory Council) April 28 April 29 April 30 May 3 May 4 May 5 May 6 May 7 May 10 May 11 May 12 May 13 May 14 May 17 May 18 May 19 May 20 May 21 May 21 (With Presidents of FRBanks) May 24 May 25 May 26 May 27 May 28 May 29 May 30 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 32 Pages 3/31 4/1 4/2 4/5 4/6 4/7 4/8 4/9 4/12 4/13 4/14 4/15 4/16 4/19 4/20 4/21 4/22 4/23 4/26 4/27 490 495 530 533 541 556 559 564 570 572 584 586 591 604 611 616 619 641 651 678 4/28 4/28 682 4/29 4/30 5/6 5/6 5/6 5/6 5/7 5/10 5/11 5/12 5/13 5/14 5/17 5/18 5/19 5/20 5/21 5/24 5/24 5/25 5/26 5/27 5/28 6/1 6/1 6/1 682 690 692 707 707 707 707 735 748 753 758 762 784 788 798 800 806 824 830 830 845 856 866 876 892 892 892 33 Pages Board of Governors: (continued) Minutes approved: (continued) June 1 June 2 June 4 June 7 June 8 June 9 June 10 June 11 June 14 June 15 June 16 June 17 June 18 June 21 June 22 June 23 June 24 June 25 June 28 June 29 June 30 July 1 July 2 July 6 July 7 July 8 July 9 July 12 July 13 July 15 July 16 July 20 July 21 July 22 July 23 July 26 July 27 July 28 July 29 July 30 August 2 August 3 August 4 August 5 August 6 August 9 August 10 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/2 6/7 6/7 6/8 6/22 895 902 902 920 6/22 6/22 988 988 988 6/22 6/22 6/22 6/22 6/22 6/22 6/22 6/23 6/24 6/25 6/28 6/29 7/6 7/6 7/6 7/6 7/7 7/8 7/9 7/12 7/13 7/15 7/16 7/20 7/21 7/28 7/28 7/28 7/28 7/28 7/29 7/30 8/2 8/3 8/4 8/5 988 988 988 988 988 988 988 1016 1019 1048 1053 1059 1087 1087 1087 1087 1092 1097 1099 1105 1115 1120 1125 1135 1140 1174 1174 1174 1174 1174 1176 1183 1201 1218 1226 1230 8/6 8/9 8/10 8/11 1245 1249 1262 1265 34 Pages Board of Governors: (continued) Minutes approved: (continued) August 11 August 12 August 13 August 16 August 17 August 18 August 19 August 20 August 23 August 24 August 25 August 26 August 27 August 30 August 31 September 1 September 2 September 3 September 7 September 8 September 9 September 10 September 13 September 14 September 15 September 16 September 17 September 20 September 21 September 21 (With Federal Advisory Council) September 22 September 23 September 24 September 27 September 28 September 29 September 30 October 1 October 4 October 5 October 5 Oath Presidents of FRBanks October 6 October 7 October 8 October 11 October 12 October 13 October 14 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8/12 8/13 8/16 8/17 8/18 8/19 8/20 8/23 8/24 8/26 8/26 8/30 8/30 8/31 9/7 9/7 9/7 9/7 9/8 9/9 9/10 9/13 9/14 9/15 9/16 9/17 9/20 9/21 9/22 9/22 9/23 9/4 9/27 9/28 9/29 9/30 10/1 10/4 10/5 10/6 10/6 10/7 10/8 10/11 10/12 10/13 10/14 10/15 1268 1281 1286 1320 1322 1334 1348 1352 1375 1390 1390 1400 1400 1411 1458 1458 1458 1458 1468 1471 1487 1494 1503 1507 1513 1525 1536 1559 1591 1591 1601 1674 1621 1624 1638 1644 1664 1672 1703 1709 1709 1714 1726 1732 1747 1754 1758 1770 35 Pages Board of Governors: (continued) Minutes approved: (continued) October 15 October 18 October 19 October 20 October 21 October 22 October 25 October 26 October 27 October 28 October 29 November 1 November 2 November 3 November 4 November 5 November 8 November 9 November 10 November 12 November 15 November 16 November 16 (With Federal Advisory Council November 17 November 18 November 19 November 22 November 23 November 24 November 26 November 29 November 30 December 1 December 1 (With Presidents of FRBanks) December 2 December 3 December 6 December 7 December 8 December 9 December 10 December 13 December 13 (Transamerica) December 14 December 15 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10/18 10/19 10/20 10/21 10/22 10/28 10/28 10/28 10/28 11/1 11/1 11/2 11/4 11/4 11/5 11/8 11/9 11/10 11/12 11/15 11/16 11/17 11/17 11/18 1775 1786 1789 1795 1804 1829 1829 1829 1829 1837 1837 1841 1851 1851 1863 1868 1881 1885 1891 1902 1925 1932 1932 11/19 11/22 11/23 11/24 11/29 11/29 11/30 12/1 1939 1944 1953 1969 1971 1988 1988 1996 2006 12/2 12/2 12/3 12/6 12/7 12/8 12/9 12/10 12/13 12/14 12/14 12/15 12/16 2027 2027 2045 2065 2084 2090 2093 2099 2111 2119 2119 2128 2137 36 Pages Board of Governors: (continued) Minutes approved: (continued) December 16 December 17 December 20 December 21 December 22 December 23 December 24 December 27 December 28 December 29 December 30 Monetary policy, to formulate, and banks to be free to criticize System, view of FAC Outside business and teaching activities of employees, discussion of questionnaires and of three special cases, staff to be notified of Board's position Personnel files, examination or request for information from, discussion in connection with case of Lauchlin Currie Permission granted to Senate Investigations Subcommittee to examine file of Lauchlin Currie as no loyalty investigative data included in Personnel matters, procedure approved for appointments, classification of positions, and salary changes Personnel Policy, Statement from Personnel Committee approved Photographs of members, payment of voucher approved Policy record: Draft of entries covering 1947 approved Rates, change in'discount rate at FRBanks of New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, and Dallas FRBank of Boston, changes in rediscount rate and others approved FRBank of Minneapolis, change in rate on advances to individuals, partnerships, and corporations other than member banks under last paragraph of Section 13, and minimum buying rate on bankers' acceptances FRBank of San Francisco, change in discount rate approved Change at FRBanks of Boston, New York, Cleveland, Richmond, Atlanta, Chicago, Minneapolis, Dallas, and San Francisco Change at FRBank of St. Louis Change at FRBanks of Philadelphia, Minneapolis, and San Francisco http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/17 12/20 12/21 12/22 12/23 12/28 12/28 12/28 12/29 12/30 12/31 2152 2157 2171 2180 2193 2226 2226 2226 2238 2240 2264 11/16 1919 1/23 103 8/24 1374 8/25 1377 12/3 2036 3/18 9/8 381 1469 2/25 254 1/9 34 1/13 58 1/14 64 1/14 65 8/12 8/18 1268 1322 8/20 1337 37 Pages Board of Governors: (continued) Policy record: (continued) Regulation D, amendment to supplement increasing reserve requirements of central re1/23 107 serve city banks Amendment to supplement to increase reserve requirements of member banks in central reserve cities from 22 per cent to 24 per cent approved, Mr. Eccles to pre6/1 888-90 pare statement of reasons for action approved 8/3 1214 Regulation HI amendment 1071 Regulation L, amendment approved 7/1 Regulation T, amendment No. 7 to permit substitutions in undermargined accounts approved 315 3/5 Regulation U, amendment No. 8 to permit substitu= tions in undermargined accounts approved 3/5 315 8/17 1291 Regulation W, Consumer Instalment Credit Amendment No. 1, Delivery in Anticipation of Instalment Sale, approved 10/27 1819 12/17 2154 Amendment No. 2 adopted Property owned by Federal Government, reply to inquiry from Representative 'Welch re 2/18 222 value of Public relations, visits to FRBanks, attendance at meetings of bankers, and public addresses 12/7 2080 discussed as means of improving Quorum, maintenance of, to be discussed when all 6/1 891 members present Records, transfer to National Archives not necessary under present destruction program 9/9 1475 Retirement system, revision, Division of Administrative Services authorized to pay neces406 3/23 sary costs of Salaries, increase to' be recommended to Congress by Chairmen's Conference committee through FAC, Board not in favor of, executive committee of Chairmen's Conference to 1/9 be advised 41 Secretary's Office: Absences of Board members, procedure for information other members approved, to be han6/8 910 dled by Authorized to make replies to letters requesting 6/11 solicitation of funds 946 Visits of FRBank officers or directors, Board members to be notified without putting 502 notice on daily list 4/2 Security loan drive, cooperation promised to Treasury 736 5/7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 38 Pages Board of Governors: (continued) Statistical activities, report sent to Mr. Frederick C. Mills for use in connection with work of Commission of Organization of 6/28 Executive Branch of Government objecCommittee, Personnel Travel authorizations by tion of Mr. Vardaman to procedure, question to be referred again to 9/21 Personnel Committee for Recommendation Vardaman Mr. of on Travel regulations, recommendati that approval of Personnel Committee not be required for Board members, 9/14 matter referred to Personnel Committee Bogota Conference, question of Board representation on United States Delegation, letters to 4/9 Secretaries of State and Treasury Bonds: Austin, Texas, interest cost of bond issue sold by correspondence between Representative Johnson and Board re telegram and letter of Mayor Miller, FRBank of Dallas to 3/25 handle matter announcement public Government, of Marketable issues re obtaining par plus accrued interest at member banks of FRSystem suggested as means of making membership more attractive and as aid to stabilization of Government bond market, matter to be 11/5 considered by FOMC U. S. Savings, question of consideration as readily marketable securities under Regulation F, not necessary to be determined at present, reply to inquiry from Mr. 1/16 Charles L. Kaufman Special effort by.Treasury to sell, recommenda2/17 tion of FAC discussed Valuation in common trust funds, statement to be published in FRBulletin, letter to 3/24 FRBanks enclosing copy Campaign, sales manual, additional payment 4/26 for publication approved Discussion at FRC meeting of Fp F, and G bonds in connection with recommendation as to types of securities to be offered 4/27 to Treasury for refunding Mr. Bethea designated to act as alternate for Chairman McCabe on Interdepartmental Committee for Peacetime Voluntary Pay 5/19 Roll Savings Plan http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1058 1550 1498 566 449 1860 82 198 441 655 659 804 39 Pages Bonds: (continued) U. S. Savings: (continued) Series G, question of consideration as readily marketable securities, reply to inquiry from FRBank of Boston, changes in regu5/24 lation F to be considered in future of staff Board, of talks in made be to Reference advice to Mr. Clark, Treasury Depart5/27 ment Committee Advisory of Chairmen State Meeting of of Savings Bond Division of Treasury, representatives to be invited to dinner 10/13 at a Mashington hotel Campaign, FRBank of Philadelphia to pay cost of printing copies of address by Mr. Williams for distribution by Treasury 10/19 in Payment by FRBanks of cost of dinners in connection with, discussion at Presidents Conference, cost of one dinner in each 12/1 district to be borne Series G Bonds, question of being readily marketable securities for common trust fund 6/15 purposes, advice to FRBank of Boston Security Loan Drive, Board to cooperate with Treasury during campaign, advice to President 5/7 of United States Bone, Myron R., Regulation WI reply to letter protesting cer10/22 tain provisions of filing Boston, 4ron, Regulation V', reply to inquiry re registration statement by business organization not engaged in credit business but making instalment loans 11/9 to employees Boston Stock Exchange: • Margin requirements, reduction in, reply to Mr. 3/16 Besse re opinion of Boutells, Minneapolis, Minn., Regulation W, reply to inquiry re rental-sale arrangement for refrigerators with coin meters 11/18 attached Branch banking systems: Deposits by countries to be compiled as of December 31, 1947, in connection with Trans1/9 america case Branch banks, domestic: American Trust Company, San Francisco, California, establishment of branch in Campbell, 1/2 Calif., approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 832 874 1757 1784 2022 953 736 1809 1882 371 1940 45 4 40 Pages Branch Banks, domestic: (continued) American Trust Company, San Francisco: (continued) Granted extension of time to establish branch 3/1 In San Bruno, California Temporary establishment of branch at Geneva Avenue and Rio Verde Street, San Mateo County, California, approved in connec3/17 tion with Junior Livestock Exposition of hment establis for time of n Granted extensio 4/19 branch in Sunnyvale, California d, Calif., Fairfiel in branch of hment Establis approved in connection with purchase of assets and assumption of liabilities 7/12 of Solano County Bank Granted extension of time for establishment of 8/6 branch in San Bruno, California Temporary establishment of branch at Geneva Avenue and Rio Verde Street, San Mateo 10/15 County, approved in branch Granted extension of time to establish 10/21 Sunnyvale, California CompBank of America N.T. & S.A., authorization by troller of the Currency for establishment of additional de novo branches, Mr. Clayton to prepare letter to Comptroller stating views of Board re in 8/17 view of complaint against Transamerica Statement in press re authorization by Treasury, discussion of matter by Mr. Szymczak with Mr. Delano in absence of Mr. Snyder, letter to be prepared for Comptroller 8/19 of the Currency stating views of Board of Examination of correspondence between FRBank San Francisco and Bank of Italy in 1917-1921 re establishment of branches, 9/29 no objection to ndence correspo of No objection to examination between FRBank of San Francisco and Bank of Italy in 1917-1920 re establishment of branches, advice to FRBank of San 10/1 Francisco at branch of Application for establishment Del Monte, Calif., Board opposed to, 8/19 Mr. Upham to be informed the of ler Comptrol from De novo branches, reply Currency to Board's letters re expan8/31 sion of Transamerica group http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 290 379 605 1107 1248 1770 1796 1320 1325 1632 1667 1332 1402 41 Pages Branch Banks, domestic: (continued) Bank of Port Jefferson, New York, establishment of branch in Port Jefferson Station, N.Y., approved in connection with absorption of First National Bank of Port Jefferson, 4/30 N. Y. d under prepare study rnia", Califo in "Branch Banking direction of Mr. Goldenweiser, reply to request of Mrs. James and Mrs. Rodd for 11/3 photostatic copies of certain pages of oller t, Comptr ishmen establ for Capital requirements opposed to change for national banks, legislative action to be deferred by 1/30 Board Cleveland Trust Company, Cleveland, Ohio, establishment of branch at South Euclid, Ohio, approved 5/7 ion to establish branch in University permiss d Grante 7/27 Heights, Ohio t ishmen establ see, Tennes lle, Nashvi Bank, e Union Commerc of branch in Donelson, Tenn., approved in connection with proposed absorption of Bank of Donelson, Tenn., further expansion not to be approved unless bank's capital 5/6 increased Commercial Bank of Utah, Spanish Fork, Utah, establishment of branches in Delta, Heber City, Nephi, and Payson, Utah, approved upon consolidation of Commercial Banks of Delta, Heber City, Nephi, and Payson with Commercial Bank of Spanish 6/23 Fork City, Commercial Trust Company of New Jersey, Jersey N. J., establishment of three branches at Bayonne, N. J., in connection with absorption of Bayonne Trust Company, 8/2 Bayonne, N. J., approved t ishmen establ Continental State Bank, Boise, Idaho, of branch in New Plymouth, Idaho, approved in connection with absorption 7/6 of New Plymouth State Bank Board Establishment of branch in Whitney Bench, 11/29. approval not required for no York, County Trust Company, 'White Plains, New objection to change in location of branch office from waiting room of New York Central Railroad Station in Mount Vernon, N. Y., to 300 feet 6/17 away and Kisco Relocation of branches in Mount 7/8 Larchmont, New York, approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 693 1848 132 738 1170 711 1018 1201 1088 1989 962 1098 42 Pages Branch Banks, domestic: (continued) Deposit Guaranty Bank & Trust Company, Jackson, Miss., establishment of branch in Clinton, Miss., approved in connection with proposed absorption of 1.420 9/1 Bank of Clinton, Miss. Dollar Savings and Trust Company, Youngstown, Ohio, establishment of branch in Hubbard, 2121 12/14 Ohio, approved Establishment of out-of-town branches, proposed legislation to eliminate statutory 1168 7/27 capital requirements estabFarmers & Merchants Bank of Lodi, California, lishment of branch in Galt, California, 827 5/21 approved Granted extension of time to establish branch 931 6/10 in Galt. ishestabl Hadley Falls Trust Company, Holyoke, Mass., ment of branch at Westover Field, 10/11 1734 Chicopee Falls, Mass., approved , Island Industrial Trust Company, Providence, Rhode additional investment for erecting 289 3/1 building for Apponaug Branch approved and Falls Establishment of branches in Central Pawtucket, Rhode Island, and additional expenditure for banking quarters 1605 9/23 approved retenLiberty Trust Company, Cumberland, Maryland, tion of branch at Lonaconing, Md., approved in connection with approval 2199 12/24 of membership application York, New ter, Lincoln Rochester Trust Company, Roches establishment of two branches in Corning, New York, approved in connection with absorption of Corning Trust 51 1/9 Company York, New aigua, Canand in branch Establishment of in connection with proposed absorption of Ontario County Trust Company, 293 3/2 approved Manufacturers and Traders Trust Company, Buffalo, New York, establishment of branch in Ebenezer, New York, approved in connection with proposed absorption of 846 5/25 Ebenezer State Bank No objection to change in location of Cheektowaga 2028 12/2 Branch Marine Trust Company of Buffalo, New York, establishment of branch in Town of Tonawanda, 1926 11/16 New York, approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 43 Pages Branch Banks, domestic: (continued) Monroe County Bank, Sparta, Wisconsin, application for membership approved, branch at 1350 8/20 Melvina, Wis., to be discontinued y, Jerse New Morristown Trust Company, Morristown, establishment of branch in Township of 1795 10/21 Denville, New Jersey, approved imina discr National banks, legislation to correct tion, support of American Bankers 385 3/18 Association requested tion reten t Proposed amendment to S. 6570 to permi after conversion or consolidation, 6/11 934 report not to be submitted lishestab , Peoples Bank, Lakewood Village, California ment of branch at Village Road and Viking 2139 Way permitted without approval of Board. 12/16 caappli , Wash. Puget Sound National Bank of Tacoma, tion for establishment of branch denied by Comptroller of Currency, objection to granting of authority to Transamerica Corporation for additional branches stated by Mr. Odlin, statement of 8/17 1319 Mr. Eccles re gSprin ny, Compa Springfield Safe Deposit and Trust field, Mass., granted extension of time to establish branch at East 921 6/8 Longmeadow, Mass of sion exten ed State Bank of Albany, New York, grant time to establish branch in Village 115 1/26 of Menands York, New , vliet Water Establishment of branch in approved in connection with absorption of National Bank of Watervliet, additional investment in bank promises also 371 3/16 approved estab Ohio, nia, Sylva ny, Sylvania Savings Bank Compa lishment of branch in Adams Township, 959 6/16 Lucas County, Ohio, approved h in Granted extension of time to establish branc 1997 11/30 Ohio y, Count Lucas hip, Towns Adams estabSyracuse Trust Company, Syracuse, New York, York, New , Tully in h branc of ent lishm ption absor sed propo with ction in conne 827 ved 5/21 appro Tully of Bank nal Natio of First roller Transamerica Corporation, authorization by Compt tion , objec ional addit of ent lishm for estab letre prepa to on Clayt Mr. , Odlin of Mr. ter to Comptroller stating views of Board 1320 8/17 in view of complaint against http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 44 Pages Branch Banks, domestic: (continued) Transamerica Corporation: (continued) Authority for additional, discussion of, letter to be prepared for Comptroller of the 8/19 Currency stating views of Board additional branches for Authorization by Treasury of Bank of America, discussion in light of complaint issued, letter to 8/120 Comptroller to be redrafted comof view in Board opposed to establishment plaint issued against, advice to Comp8/23 troller of the Currency and FDIC in still policy expansion re 1942 agreement effect, letter to Comptroller of the ' 8/23 Currency re, copy sent to FDIC stateexpansion, re Comptroller with Conference ments of Messrs. Clayton and Townsend re 8/24 Expansion policy, 1942 agreement re, preparation of memorandum by Staff not to be made and no reply to be made to letters of 9/20 Comptroller of the Currency United States Trust Company of Newark, N. J., granted permission to purchase assets of Columbus Trust Company and to operate three 7/21 offices in Newark as branches Wachovia Bank and Trust Company, Winston-Salem, North Carolina, establishment of branch at 212 East Morehead Street, Charlotte, N. C., and a branch in Biltmore Village, Asheville, N. C., 2/4 approved Granted extension of time for establishment of 8/6 branch in Charlotte, N. C. of Granted extension of time for establishment 9/23 branch in Charlotte, N. C. Branch banks, FRSystem: Audit of, letter to FRBank of San Francisco that two 2/26 be made each calendar year Baltimore: Staff: Armstrong, Bernard F., Assistant Cashier, 6/14 salary approved of excess in Beall, John J., salary 7/9 maximum approved 6 /14 salary approved Cashier, Hagner, Donald F., Cashier, Assistant Johnston, John A., 6/14 salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1330 1341 1360 1361 1366 1532 1142 145 1248 1606 257 949 1100 949 949 45 Pages Branch banks, FRSystem: (continued) Baltimore: (continued) Staff: (continued) Milford, W. R., Vice President, salary approved Shipley, Eugene L., FRAgents Representative, salary approved Salary approved Stewart, Alfred A., FRAgents Representative, salary approved Salary approved Wienert„ Adolph C., Assistant Cashier, salary approved Banking quarters: Vaults, discussion of thickness of walls to be approved, letters to FRBanks of Atlanta, Chicago, and San Francisco to be prepared Construction with 30 inch reinforced concrete walls approved, advice to FRBank of San Francisco Birmingham: Budget, expenses in excess of estimate for 1948 approved Staff: Beavers, P. L. T., Vice President and Manager, salary approved Frazer, H. C., Assistant Manager, salary approved Starr, Leo W., Assistant Cashier, salary approved Urquhart, H. J. Cashier, salary approved Buffalo: Salaries employees, minimum and maximum approved Staff: Doll, Geo. J., Assistant Cashier, salary approved Salary approved Myers, M. M.„ Assistant Cashier, salary approved Salary approved Smith, I. B., General Manager, salary approved Salary approved Snow, H. W., Cashier, salary approved Salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/i4 949 6/16 12/10 957 2103 6/16 12/10 957 2103 6/14 949 4/2 503 4/6 541 8/27 1398 5/25 842 5/25 842 5/25 5/25 842 842 11/24 1971 4/7 7/23 551 1160 4/7 7P3 551 1160 4/7 7/23 4/7 7/23 551 1160 551 1160 46 Pages Branch banks, FRSystem: (continued) Charlotte: Staff: Bagby, T. 'Wesley, FRAgents Representative, salary approved Salary approved Cherry, Robert L., Vice President, salary approved Gilliam, Paul D., FRAgents Representative, salary approved Salary approved Honeycutt, Robert L., Assistant Cashier, salary approved Ligon, Stanhope A., Cashier, salary approved Monoiy, E. Clinton, Assistant Cashier, salary approved Cincinnati: Banking quarters, procedure for determining cost of building approved, revised form FR 320a requested in connection with Budget, expenses for Furniture and Equipment function in excess of estimate for 1948 approved Retirement system contributions for Fiscal Agency employees on leave without pay, exceptions by GAO to charges covering, statement to FRBank of Cleveland Staff: Allmoslechner, Martha, Sr. Cash Clerk-Typist, salary in excess of maximum approved Biermann, John, Jr., designation as special assistant examiner Dieringer, Lester, designation as special assistant examiner Geer;, P. J., Assistant Cashier, salary approved Harrell, Clyde, Assistant Cashier, salary approved Johnson, R. G., Assistant Cashier, salary approved Keller, Frank, Coin Teller, salary in excess of maximum approved Lazar, B. J., Vice President, salary approved Marsh, Howard, designation as special assistant examiner Marsh, William H., FRAgentls Representative, appointment approved Salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/16 12/10 957 2103 6/14 949 6/16 12/10 957 2103 6/14 949 6/14 949 6/14 949 8/13 1285 12/22 2185 5/12 759 10/12 1750 1/14 66 1/14 66 4/23 639 4/23 639 4/23 639 10/12 1750 4/23 639 1/14 66 2/17 9/29 219 1639 47 Pages Branch banks, FRSystem: (continued) Cincinnati: (continued) Staff: (continued) Miller, Clifford, designation as special assistant examiner Oettinger, R. P., designation as special assistant examiner Ostendorf, H. H. FRAgent's Representative, salary approved Ott, H. N., Cashier, salary approved Palmer, Cletus, designation as special assistant examiner Denver: Hospital and surgical benefits under Blue Cross Program, payment by FRBank of Kansas City of two-thirds of cost approved Staff: Duck, Hubert G., Assistant Cashier, salary approved Fisher, H. B., FRAgent's Representative, salary approved Salary approved Larson, F. H., Cashier, salary approved Pipkin, G. H., Vice President, salary approved Salary approved as recommended Stempel, H. L. Assistant Cashier, salary approved Young, William R., FRAgent's Representative, salary approved Salary approved Detroit: Banking quarters, no objection to construction of vault Vault construction, discussion of thickness of walls, letter to be prepared Final plans and specifications for building approved, to be submitted to Board before bids requested Salaries, employees, approved Staff: Bloomfield, Richard W., Assistant Cashier, salary approved Chalfont, Harlan J., Manager, salary approved Cunningham, C. O., designation as special assistant examiner Diehl, Harold L., Cushier, salary approved Foley, D. R., Jr., designation as special assistant examiner Haefele, Kenneth E., Asst. Counsel and Asst. Cashier, salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/14 66 1/14 66 9/29 4/23 1639 639 1/14 66 3/3 301 6/16 958 1/5 6/28 6/16 8 1055 958 6/16 6/25 958 1027 6/16 958 1/5 6/28 8 1055 3/12 364 4/2 503 4/23 2/20 633 246 3/22 3/22 398 398 1/26 3/22 114 398 1/26 114 3/22 398 48 Pages Branch banks, FRSystem: (continued) Detroit: (continued) Staff: (continued) Harris, Ernest C., Vice President, salary 3/22 approved special as designation 0., K. Heika, 1/26 assistant examiner Representative, FRAgent's Jones, Everett, 12/21 salary approved special as designation A., R. Mitchell, 1/26 assistant examiner special as designation C., W. Nordbeck, 1/26 assistant examiner Representative, FRAgent's J., August Pettke, ' 9/29 salary approved Wiegandt, Arthur J., Assistant Cashier, 3/22 salary approved El Paso: Staff: Arnold, T. C., Assistant Cashier, salary 1/13 approved 5/25 Salary approved 5/25 Berg, E. H., Cashier, salary approved Fraser, C. Hadley, FRAgent's Represntativ#4 7/1 salary approved Rowland, C. M., Vice President, salary 2/25 approved 5/25 Salary approved Helena: Staff: Groth, Clarence W., Assistant Vice President, salary approved but at less than recom8/20 mended Salary recommended, discussion of matter with Mr. Peyton, increase not approved by Board, Mr. Peyton to be advised of 8/24 decision Question of salary, further discussion with Mr. Peyton, no change in decision, 8/26 letter to be mailed to Mr. Peyton Telegrams and letters from Mr. Peyton to Board members re, reply to be drafted 8/31 by Secretary Letter stating Board's opposition to increase recommended and reasons for 9/3 sent to Mr. Peyton Larson, C. J., Assistant Cashier, salary 5/25 approved position, another Resignation to accept appointment of Mr. Groth to be announced 8/24 because of, statement of Mr. Peyton http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 398 114 2172 114 114 1639 398 60 844 844 1069 253 844 1349 1362 1388 1407 1436 841 1362 49 Pages Branch banks, FRSystem: (continued) Helena: (continued) Staff: (continued) Powell, Leland V., FRAgent's Representative, 10/21 appointment and salary approved 12/21 approved Salary Representative, FRAgent's Surman, Steve J., 10/20 appointment and salary approved 12/21 approved Salary Towle, R. E., Vice President, salary 5/25 approved appointretirement, of time at Successor ment of Mr. Groth and salary discussed 8/24 in connection with Successor upon retirement, discussion with Mr. Peyton of appointment and salary for 8/26 Mr. Groth Houston: Staff: 2/25 Davis, K., Cashier, salary approved 5/25 Salary approved Holloway, V. H., Vice President, salary ap5/25 proved Troy, B. J., Assistant Cashier, salary 5/25 approved Jacksonville: Banking quarters, modification of preliminary plans necessary for Board approval, letter to 1/6 FRBank of Atlanta to be revised Plans for building approved, subject to certain changes, final plans to be submitted 1/19 to Board before asking for bids Vault construction, discussion of thickness of 4/2 walls, letter to be prepared re Construction of building, no objection to installation of e-iuipment for cafeteria service, 30-inch reinforced concrete 4/12 walls approved Plans for building, draft of reply to Mr. 5/25 McLarin's letter to be prepared No further changes to be made in conditions 6/7 stated Further consideration to be deferred, in view 12/30 of question of widening of street Budget, expenses in excess of estimate for 1948 8/27 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1791 2172 1791 2172 841 1362 1388 253 844 844 844 16 88 503 571 845 903 2244 1398 50 Pages Branch banks, FRSystem: (continued) Jacksonville: (continued) Staff: 5/25 Clark, Crawford, Cashier, salary approved approved5/25 salary Cashier, Assistant C., Mason Ford, Hicks, W. Lester, designation as special 10/21 assistant examiner Manager, and President T. Vice A., Lanford, 5/25 salary approved salary Cashier, Assistant Wyly, Snyder, J. 5/25 approved special as designation Ernest, J. Thomas, 10/21 assistant examiner Little Rock: Staff: Childers, Clay, Assistant Manager, salary 6/25 approved Links, John A., FRAgents Representative, 6/16 salary approved Stewart, C. M., Vice President, salary 6/25 . approved Wood, Clifford, Assistant Manager, salary 6/25 approved Los Angeles: Banking quarters, cafeteria facilities and vault construction, letter to Mr. Earhart 1/6 to be prepared Construction of addition not to be undertaken at present time, but final plans to be 3/10 prepared for submission to Board Construction to be deferred but project not to 4/1 be jeopardized, advice to Mr. Earhart Vault construction, discussion of thickness of 4/2 walls, letter to be prepared Vaults, construction with 30 inch reinforced 4/6 concrete walls approved No objection to replacement of defective and 5/28 condemned equipment Proposed addition, architect to stop work at 7/8 present point Staff: Ambrose, W. N., Vice President and Manager, 4/23 salary approved Barglebaugh, E. R., Assistant Manager, salary 4/23 approved Bold, Fred C., Assistant Manager, salary 4/23 approved Carter, W. E., designation as special assist12/23 ant examiner Hale, T. S., designation as special assistant 12/23 examiner McRitchie M., Assistant Manager, salary approved 4/23 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 843 843 1795 843 843 1795 1027 957 1027 1027 18 348 496 503 541 1057 1098 640 640 640 2194 2194 640 51 Pages Branch banks, FRSystem: (continued) Los Angeles: (continued) Staff: (continued) Meyer, L. C., Assistant Manager, salary 4/23 approved Oakley, H. C., designation as special assist12/23 ant examiner Robinson, J. R., FRAgent's Representative, 12/1 salary approved Watkins, C. H., Assistant Manager, salary 4/23 approved Louisville: Staff: Arthur, L. K., Assistant Manager, salary 9/15 approved in salary and Discussion of appointment connection with official personnel 9/29 problems salary Manager, Assistant Fred, Burton, 6/25 approved salary Manager, Assistant Moore, L. S., 6/25 approved salary Representative, FRAgents H., G. Parsell, 6/16 approved salary President, Vice Schacht, C. A., 6/25 approved Memphis: Staff: Anderson, H. C., Assistant Manager, salary 6/25 approved salary Manager, Assistant Belcher, S. K., 6/25 approved Acting Manager, appointment and salary 7/1 approved Card, Montez B., currency sorter, salary below 3/3 minimum approved Martin, C. E., Assistant Manager, salary 6/25 approved Pollard, W. B., Vice President, salary approved 6/25 up to date of resignation Ritzel, Carl, FRAgents Representative, salary 6/16 approved Schroeder, Paul E., Vice President, salary 7/15 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 640 2194 2007 640 1508 1637 1027 1027 957 1027 1027 1027 1069 301 1027 1027 957 1121 52 Pages Branch banks, FRSystem: (continued) Nashville: Budget, expenses in excess of estimate for 1948 8/27 approved Staff: Fort, Joel B., Jr., Vice President and 5/25 Manager, salary approved 5/25 Harrison, E. R., Cashier, salary approved Moody, Robert E., Jr., Assistant Cashier, 5/25 salary approved New Orleans: Budget, expenses in excess of estimate for 1948 8/27 approved Staff: Chapman, Lawrence T., Assistant Cashier, salary 5/25 approved assistDastugue, M. F., designation as special 5/5 ant examiner Ducamus, D. J., Assistant Vault Custodian and Alternate FRAgents Representative, salary 8/18 approved ive, Hoppe, Henry B., FRAgent's Representat 9/2 appointment and salary approved Paris, E. P., Vice President and Manager, 5/25 salary approved 5/25 Sewell, W. H., Cashier, salary approved Shaw, Morgan L., Assistant Manager, salary 5/25 approved salary Cashier, Vasterling, F. C., Assistant 5/25 approved FRAgent's and Custodian Westerhaus, J. Val, Vault 8/18 Representative, salary approved with up taking without made Officers, no change to be Board, topic for discussion at Conference 8/24 of Presidents Oklahoma City: Staff: 6/16 Alexander, F. W., Cashier, salary approved ive, Representat FRAgent's Chase, David E., 1/5 salary approved 6/28 Salary approved Cox, Lee G., FRAgent's Representative, salary 1/5 approved 1/13 Salary approved 6/28 approved Salary Fritz, F. R., Assistant Cashier, salary approved 6/16 6/16 Mathes, R. L., Vice President, salary approved Cashier, salary Assistant C., Fred Schmocker, 6/16 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1398 843 843 843 1398 843 704 1323 1424 843 843 843 843 1323 1365 958 8 1055 8 59 1055 958 958 958 53 Pages Branch banks, FRSystem: (continued) , Omaha: Staff: 958 Berry, U. S., Assistant Cashier, salary approved 6/16 Doran, William P., Assistant Cashier, salary 958 6/16 approved 958 6/16 Earhart, L. H., Vice President, salary approved 6/25 1027 Salary approved as recommended Fairley, William F., FRAgent's Representative, 8 1/5 salary approved 6/28 1055 Salary approved 6/16 958 Friedebach, J. K., Cashier, salary approved Streeter, Earl O., FRAgent's Representative, . 1/5 8 salary approved 6/28 1055 Salary approved Pittsburgh: Banking quarters, no objection to expenditure for fluorescent lighting and acoustical ceil1/8 32 ing installation Proposed changes in building to be forwarded in advance of visit of Messrs. Brainard and 609 Gidney 4/19 Plan for sale of existing building, construction of new building and possible acquisition of Speer Estate to be investigated by FRBank 684 4/29 of Cleveland Proposed purchase of Speer Estate, information re construction of new building requested 1715 10/7 before approval 1831 10/28 No objection to purchase of Speer property Staff: Allshouse, R. K., designation as special 66 1/14 assistant examiner Anderson, Eugene P., Gen. Issues Ship. ClerkTypist, salary in excess of maximum 10/12 1750 approved Bauer, Helen O., Member Accounts Bookkeeper, 1750 10/12 salary in excess of maximum approved Cosgrove, William J., FRAgent's Representative, 2/17 appointment approved 219 Salary approved845 1639 9/29 Salary approved Descamps, Eugene, Check Collection Utility Clerk, 10/12 1750 salary in excess of maximum approved 639 4/23 Foster, A. G., Cashier, salary approved Heuer, O. N., designation as special assistant 66 1/14 examiner http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 54 Pages Branch banks, FRSystem: (continued) Pittsburgh: (continued) Staff: (continued) 4/23 Kossin, J. W., Vice President, salary approved Nolte, W. H., Assistant Cashier, salary 4/23 approved assistspecial as designation A., C. Powell, 1/14 ant examiner salary Cashier, Assistant A., J. Schmidt, 4/23 approved Steinbrink, R. J., Assistant Cashier, salary approved 4/23 Trowbridge, Gordon M., FRAgent's hepresentative, 5/25 salary approved 9/29 Salary approved Portland: Banking quarters, cafeteria facilities and vault construction, letter to Mr. Earhart to be 1/6 prepared Structure and type of outside facing approved by Board, no objection to cafeteria and 3/8 dining room plans Vault construction, discussion of thickness of 4/2 walls, letter to be prepared Vaults, construction with 30 inch reinforced 4/6 concrete walls approved Building situation regarded as emergency, state8/4 ment of Mr. Eccles Final plans for proposed building approved, FRBank of San Francisco authorized to 9/2 procure construction bids No objection to purchase commitments with Otis Elevator Company for elevators in 9/9 proposed building Staff: 4/23 Bent, D. E., Assistant Manager, salary approved salary Blanchard, J. P., Assistant Manager, 4/23 approved Davis, D. L., Vice President and Manager, salary 4/23 approved To visit Seattle Branch periodically during 5/7 illness of Mr. Shaw Frandsen, J. E., designation as special assibt12/23 ant examiner Hinman, C. V., designation as special assistant 12/23 examiner contribution to Pearl, Hollingsworth, Maudeta retirement system because of separation, 7/16 Board to consider recommendation approved system retirement to Special payment 7/26 for MacEachron, S. A., Assistant Manager, salary approved 4/23 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 639 639 66 639 639 845 1639 18 332 503 541 1224 1434 1475 640 640 640 737 2194 2194 1127 1165 640 55 Pages Branch banks, FRSystem: (continued) Salt Lake City: Staff: Anderson, John B., FRAgent's Eepresentativel 11/2 appointment and salary approved 12/1 Salary approved Barnard, 0. H., Assistant Manager, salary 4/23 approved Everson, R. E., Assistant Manager, salary approved 4/23 Hemmings, H. E., Assistant Manager, salary approved 4/23 Partner, V'. L., Vice President and Manager, salary approved 4/23 San Antonio: Staff: 5/25 Eagle, W. E., Vice President, salary approved Magee, F. C., Assistant Cashier, salary 2/25 approved 5/25 Salary approved 2/25 Mundt, Alfred E., Cashier, salary approved 5/25 Salary approved Stover, G. W., FRAgent's Representative, 7/1 salary approved Seattle: Banking quarters, final plans and specifications to be prepared and submitted to Board, no objection to provision for cafeteria and dining room facilities 3/5 Vault construction, discussion of thickness of 4/2 walls, letter to be prepared Construction of 30 inch reinforced concrete walls 4/6 approved of FRBank approved, building Plans for proposed San Francisco authorized to obtain con8/3 struction bids Building situation regarded as emergency, 8/4 statement of Mr. Eccles No objection to purchase commitments with Otis Elevator Company for elevators in pro9/9 posed building No objection to acceptance of bids for steel for 11/3 proposed building Procedure re obtaining bids for building 12/31 approved Staff: Case, G. T., designation as special assistant 12/23 examiner Jorgensen, A. K., designation as special assist12/23 ant examiner Kind, W. A., designation as special assistant 12/23 examiner http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1841 2007 640 640 640 640 844 253 844 253 844 1069 326 503 541 1213 1224 1475 1848 2266 2194 2194 2194 56 Pages Branch banks, FRSystem: (continued) Seattle: (continued) Staff: (continued) Merritt, A. B., designation as special assistant examiner Morrill, R. H., Assistant Manager, salary approved Reightley, D. F., designation as special assistant examiner Russell, B. A., Assistant Manager, salary approved Sandstrom, William R., Acting Assistant Manager, salary approved Salary approved as assistant manager Salary approved Shaw, C. R., Vice President and Manager, salary approved Illness of Simms, D. E., Assistant Manager, salary approved Strang, I. A., designation as special assistant examiner Underhill, D. F., designation as special assistant examiner White, J. V., designation as special assistant examiner Wood, W. D., designation as special assistant examiner Branch banks, foreign: Bank of America National Trust and Savings Association, San Francisco, Calif., question of authority for establishment, discussion in connection with statement in press Discussion of authorization by Board in connection with agreement of 1942 Establishment by, monopolistic banking conditions in Vest Coast area not affected by, statement in letter to Comptroller of the Currency Factors to be considered in approving establishment of additional branches Establishment of branch at Kobe, Japan, approved Establishment of branch at Yokohama, Japan, approved Granted extension of time to establish branch in Shanghai, China Granted extension of time to establish branch at Shanghai, China Establishment of branches at Bremen, Frankfort-amMain, and Hamburg, Germany, discussion of authorization in view of financial condition of bank and case against Transamerica Corporation, Mr. Szymczak to obtain additional information re need for branches and matter to be considered again http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/1 1070 4/23 640 12/23 2194 4/23 640 5/7 8/27 12/3 737 1394 2045 4/23 5/7 4/23 640 737 640 7/1 1070 12/23 2194 7/1 1070 12/23 2194 8/19 1330 8/20 1341 8/23 1360 11/30 W17 6/17 1997 964 964 6/15 952 12/16 2139 8/6 1236 57 Pages Branch banks, foreign: (continued) Bank of America N.T. and S.A.: (continued) Establishment of branches at Bremen, Frankfurt-amMain, and hamburg, Germany, opposition 8/20 of Mr. Vardaman Bremen, in branches Application to establish Frankfurt-am-Main, and Hamburg, Germany, action to be deferred pending outcome of hearing in proceeding against Transamerica 8/20 Corporation Application to establish branches at Bremen, Frankfurt-am-Main, and Hamburg, Germany, informal conference of Messrs. Clayton and Townsend with Comptroller and FDIC, drafts of letters to Messrs. Delano and Hanl to be prepared requesting comments re authorization in light of capital position and 8/31 policies of bank Pertinent comments re position of bank requested from Comptroller of the Currency and 9/3 FDIC Germany, discussion of applications and of letters to Comptroller of the Currency and FDIC 11/16 re, no response from FDIC as yet Application to establish three branches in Germany, no action to be taken until receipt of replies from FDIC, Comptroller, and FRBank 12/31 of San Francisco re branch in Siam Application for establishment of branch at Bangkok, Siam, discussion with Mr. Pierotti and 10/19 Mr. Scott Discussion, information to be requested from Comptroller of the Currency, FDIC and FRBank of San Francisco, conference with Mr. Delano to be arranged to ascertain extent of assistance in Transamerica case 11/16 Additional information re bank requested from FRBank of San Francisco, Comptroller of 11/30 the Currency, and FDIC before decision Letter from FRBank of San h.ancisco received, memorandum of Division of Research and Statistics to be circulated, arrangements for meeting with Messrs. Delano and Hanl to be made by Mr. Clayton to 12/31 discuss http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1343 1346 1438 1438 1922 2246 1779 1923 1997 2246 58 Pages Branch banks, foreign: (continued) Chase National Bank, New York, N. Y.: Order authorizing establishment of branch in 3/2 Heidelberg, Germany, approved at branch establish to Granted extension of time 4/20 Berlin, Germany 12/9 d authorize Japan, Osaka, Establishment of branch at First National Bank of Boston, Mass., granted extension of time to establish branches at Sao Paulo 4/20 and Santos, United States of Brazil National City Bank of New York: Granted extension of time for establishment of branch 4/16 at Manila, Republic of Philippines at branch establish to time Granted extension of 7/9 Porto Alegre, Brazil Hokohama, and Kobe in of branches Establishment 8/16 Japan, approved Brazil: Mission to, participation of FRSystem in, letter to 7/15 Mr. Southard re Messrs. Moore and Grove Messrs. Hersey and Glaessner to be members of technical staff and Mr. Roelse to be 8/13 member of, advice to Mr. Southard Joint Brazil-United States Technical Commission, Mr. Hersey granted extension of time 12/15 for assignment Brewster, Marshall L., Regulation W, reply to letter re 9/28 applicability to appliance business Bridges, Senator Styles, request for copies of Board pub9/20 lications for 1948, reply to letter British loan agreement, included in discussion by Mr. 3/19 Knapp of NAC activities Broach, Falkner C., payment to Treasury as interest on 12/16 FRnotes, reply to inquiry to Btlek, Senator C. Douglas, reply to letter on S.2287 amend Reconstruction Finance Corpora4/5 tion Act Budgets: Birmingham Branch, expenses in excess of estimate for 8/27. 1948 approved Board of Governors for 1949, approved tentatively, procedure to be considered at early 12/31 meeting Board Members' Offices, $300 added to item of Printing and Binding in 1947 non-personal 1/19 budget hic of stenograp cost Increase approved to cover transcript of hearings on nomination of 4/27 Mr. McCabe group of expense To be increased to cover 9/8 photographs of Board Members and Printing of Amount to be added to items Binding and Stationery and Supplies of 9/22 1948 budget http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 291 613 2095 613 596 1101 1288 1120 1284 2128 1627 1538 387 2140 538 1398 2262 89 680 1469 1600 59 Pages Budgets: (continued) Board of Governors: (continued) Counsel's Office, addition to item of Traveling Expenses in 1948 budget approved be added to item of Furniture and to $250 Equipment Division of Administrative Services, to be increased to cover cost of equipment for serving luncheons in Board members' offices 21000 added to item of Printing and Binding in 1948 non-personal budget '4 ,200 added to item of Heat, Light and Power in 1947 non-personal budget To be increased to cover cost of reprints and . distribution of Banking Studies To be increased to cover expense involved for tennis courts To be increased to cover cost of reception for all employees Cost for luncheon for fiscal and financial writers of Washington to be charged to Amount added to cover cost of dinner at Burning Tree Club for Presidents Cost of installation of code warning signal to dictaphone equipment in Secretary's Office to be charged to current year's budget To be increased to cover expense of stenographic transcripts of testimony of Messrs. McCabe, Eccles, Sproul, Young, Leedy, and Williams before Senate and House Committees on Banking and Currency To be increased to cover costs of luncheons for governors of International Monetary Fund and International Bank To be increased to cover cost of new automobile Amount to be added to cover cost of dinner for State Chairmen of Advisory Committee of Savings Bond Division of Treasury Amounts to be added to items of Postage and Expressage, Telephone and Telegraph, Stationery and Supplies, and Miscellaneous for 1948 To be increased to cover cost of dinner for Chairmen's Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/30 1065 9/27 1623 3/5 327 3/29 477 1/19 89 2/18 223 5/7 731 6/15 953 6/8 911 6/10 931 7/1 1074 8/27 1398 9/10 9/21 1480 1546 10/13 1757 10/20 1794 12/3 2035 60 Pages Budgets: (continued) Board of Governors: (continued) Division of Bank Operations, S75 to be added to item of Repair and Maintenance (Furniture and Equipment) in 1947 non-personal 1/20 budget 1948 in item aneous Miscell to Addition of sum 7/22 budget approved to, for charged be to Pawley Salary of Mr. 10/28 period of work on Regulation connecin Cherry Mr. of s expense ng Traveli 10/28 tion with Regulation W to be charged to in items various e increas to added Amounts 11/10 1948 non-personal budget and Printing of item to added be to Amount 11/17 Binding for approved cost cover to d increase be To computing figures on Group 2 corporate securities published by Moody's, Fitch, National Quotation Bureau and Standard & 10/1? Poor's be to , tration Adminis el Personn Division of increased to cover cost of memorial plaque 11/22 for employees for party as Christm cover to ed increas To be 12/7 employees be to $7,000 ics, Statist and Research of Division added to Miscellaneous item to cover cost of supplementary vork in connection 2/16 with 1948 Survey of Consumer Finances To be increased to cover grant to Iowa State 4/23 College for monetary conference To be increased to cover cost of entertainment and fees for conference of Special Libraries 5/7 Association Amount to be charged to cover reimbursement to Mr. John B. Grant for deposit forfeited in order to assist Board in work on Regu9/22 lation W travel and Funds to provide for compensation for Mr. Musgrave in connection with studies re war-time economic stabilization 10/1 Secretary's Office, $500 to be added to Miscellane10/6 ous classification in 1948 budget ph, and Telegra ne Increases approved for Telepho Stationery and Supplies, and Miscellaneous items in 1948 Amount to be added to item of Repairs and Main11/17 tenance http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 93 1148 1829 1830 1890 1938 1785 1958 2068 190 629 721 1599 1665 1712 1840 1938 61 Pagef.! Budgets: (continued) Board of Governors: (continued) Solicitor's Office, to be submitted through Division 12/6 of Administrative Services and Equipe Furnitur s for expense Cincinnati Branch, ment function in excess of estimate for 12/22 1948 approved e for estimat of excess in s expense , FRBank of Atlanta 8/27 1948 approved item special n, functio ns relatio public and Bank of 25,000 not to be approved until 12/6 development of program for use of funds 12/23 d approve 1948 for e estimat of excess Expenses in 1949 budget approved except for special fund in item "Meetings, conferences, etc." of Bank and Public Relations function, 12/27 information re use of fund requested of FRBank of Boston, 1948 report increased for items furniture and equipment, stock of sup2/26 plies, and check collection Question of making photographic records of outgoing cash items to be discussed during consideration of 1949 budgets, letter to 9/21 be sent to Bank 1949, photographic records and double-listing of outgoing country checks, value to be 12/6 questioned in letter to 1949 budget approved, but further information re amount for Check Collection function 12/27 requested 12/27 d Expenses in excess of estimate for 1948 approve FRBank of Chicago, for 1948, further information re1/8 quested re "Meetings, conferences, etc." edgeacknowl Expenses in excess of estimate for 1947, 1/8 ment of letter d 12/16 approve 1948, Expenses in excess of estimate for 12/27 1949 budget approved phic photogra FRBank of Cleveland, question of making records of outgoing cash items to be discussed during consideration of 1949 9/21 budgets, letter to be sent n to questio Moving picture, deferring of making, 12/6 be raised with checks, country Photographic records of outgoing informatiLn re value at present to be 12/6 requested 12 /15 1948 approved for e estimat of Expenses in excess n at nt functio Equipme and e Expenses for Furnitur Cincinnati Branch in excess of estimate 12/22 for 1948 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2062 2185 1398 2052 2196 2210 258 1548 2054 2206 2213 32 33 2142 2213 1548 2052 2054 2134 2185 62 Pages Budgets: (continued) FRBank of Cleveland,: (continued) 1949 budget approved, but further information requested re proposed movie in Bank and Public Relations functions and for Check Collection function FRBank of Dallas, expenses in excess of estimate for 1948 approved 1949 budget approved FRBank of Kansas City, expenses in excess of estimate for last half of 1947, acknowledgment of letter Expenses in excess of estimate for 1948 approved 1949 budget approved FRBank of Minneapolis, question of making photographic records of outgoing cash items to be discussed during consideration of 1949 budgets, letter to be sent Bank and public relations function, desirability of continuing annual conference of banks in District and of revising motion picture questioned, additional information to be requested Photographic records of outgoing country checks, information re value at present to be requested 1949 budget approved except for amounts in item "Meetings, conferences, etc." and for replacement of movie "Back of Banks and Business", further information re Check Collection function also requested Expenses in excess of estimate for 1948 approved FRBank of New York, increases for 1948 in Furniture and Equipment function approved Proposed research for 1949, additional information re work to be requested Expenses in excess of estimate for 1948 approved 1949 budget approved, but further information re amount for Research and Statistical function requested, consideraticn also to be given to Provision of Personnel function FRBank of Philadelphia, 1949 budget approved Expenses in excess of estimate for 1948 approved FRBank of Richmond, expenses in excess of estimate for last half of 1947, acknowledgement of letter http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/27 2209 12/6 12/27 2213 1/5 12/15 12/27 12 2135 2213 9/21 1548 2066 12/6 2051 12/6 2054 12/27 12/27 2211 2214 7/9 1104 12/6 12/22 2050 2184 12/27 12/27 12/28 2207 2213 2237 1/5 11 63 Pages Budgets: (continued) FRBank of Richmond: (continued) 7/7 Increases for 1948 budget approved 12/9 approved 1948 for estimate Expenses in excess of 1949 budget approved, but increases in Personnel 12/27 function noted for estimate of excess in FRBank of St. Louis, expenses 12/15 1948 approved 12/27 1949 budget approved s estimate of excess in expenses FRBank of San Francisco, for 1948 in Research and Statistical func7/22 tion approved 12/7 approved 1948, for estimate of excess Expenses in 12/27 1949 budget approved FRBanks to letter re, studies es, FRBanks, procedur requesting comments and suggestions, topic to be placed on agenda for Chairmen's 5/14 Conference nt and subseque 1949 for report ng submitti for e Procedur years, revised instructions re Form FR 634 (a), 7/6 advice to FhBanks of 1949 and subsequent years, instructions re statement Bank and Public Relations program, advice 7/13 to FRBanks sent be to letters ns, exceptio certain with 1949, approved to Presidents with copies for Chairmen if desired, budgets to be sent to Presidents and copies handed to Chairmen at Conference 12/6 Audit function, discussi-m, review by Mr. Millard of conference with auditors of Banks12/6 Bank and public relations function, discussion of pro12/6 posed increase for 1949 Chairmen's Conference to appoint committee to work with two Board members to develop standards for research and statistics, bank and public relations, and provision of 12/6 personnel for salaries Examination function, discussion of examiners, comparison with salaries of other agencies to be considered and question to be discussed at Presidents Con12/6 ference, FRBanks to be advised 12/6 increase of on discussi Personnel function for 1949, increase proposed of Research function, discussion 12/6 for 1949 12/6 ... Submitted by Mr. Smead covering 1949 for estimate of excess Jacksonville Branch, expenses in ' 8/27 1948 approved 1948 for estimate of excess Nashville Branch, expenses in 8/27 approved 1948 for estimate of excess New Orleans Branch, expenses in 8/27 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1096 2098 2210 2134 2213 1148 2088 2213 775 1089 1116 2064 2054 2051 2050 2053 2064 2049 2047 1398 1398 1398 64 Pages Building and loan associations: Loans secured by shares of stock, not exempt under 10/22 Regulation W Bureau of the Budget: Compensation of heads and assistant heads of executive departments and other officers, request for 12/6 opinion of Board on draft of bill ng expressi letter , Draft of bill to increase 12/7 views of Board sent to of deposits time and demand of Compilation by counties individuals, partnerships, and corporations, cooperation of Comptroller and 1/14 FDIC requested, approval requested of copy by, report System, Control Federal Inventory acknowledged, but program not applicable 7/1 to Board to t amendmen ion, legislat System Home Loan Bank authorize Treasury purchase of obligations discussion of Mr. Clayton with Mr. Pace, Treasury representatives to talk with Messrs. Wood and Solomon before discus9/20 sion with , Treasury g from borrowin e authoriz Amendments to draft to be submitted to, and to such others as suggested by, to be taken up with ABA, FAC, and Reserve City Bankers Association later if agreement expressed 12/7 by Home Loan Bank System borrowpermit to 2799 H.E. to ts amendmen Proposed ing from Treasury, draft and memorandum 12/16 sent to H.R. 2799, to amend Federal Home Loan Bank Act, Title IV of National Housing Act, and for other purposes, comments sent re bill and 4/16 proposed amendment by report Meeting to discuss possible changes, Mr. Thurston, no change in Board's posi7/23 tion from g Proposed amendments to permit borrowin 12/16 Treasury, draft and memorandum sent of Act ment H.R. 4488, to amend Servicemen's Readjust 1944, Board not in favor of enactment, 1/6 advice to payments tax H.R. 4790, to reduce individual income and for other purposes, request for report, letter opposing general reduction of taxes at present to be revised and resubmitted to Board To reduce individual income tax payments and for other purposes, Board opposed to enact3/31 ment, report to http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1808 2063 2076 66 1073 1531 2071 2140 596 1157 2140 24 488 65 Pages Bureau of the Budget: (continued) Housing Act of 1949, views of Board requested re Housing aid, bill prepared by Housing and Home Finance Agency to create secondary mortgage market, Board opposed to, Secretary to advise Legislative program of FRSystem, report to be sent to Report of Mr. Thomas of meeting re proposals, discussion of credit controls Letter to be prepared by Mr. Vest Legislative proposals of FRSystem: Advice re principal subjects sent to Director 12/31 2261 2/13 11/9 175 1880 11/16 11/17 1924 1930 11/30 12/1 Report sent to Draft of letter discussed at Presidents Conference, 12/1 no objections to Mortgage loans under National Housing Act and Service— men's 1-eadjustment Act, proposed increase in maximum interest rates on, Board in 8/20 favor of deferring, advice to to amend, National Housing Act, drafts of legislation 3/3 opyosition of Board to, advice re Regulations governing the furnishing of statistical information to public international organizations, as amended at NAC staff meeting on August 25, no objections to 8/31 proposed Executive Order, advice to S.2526, to remove limitation upon maximum deposit insured by FDIC, Board opposed to enact— 7/2 ment, advice to 8.2790, to provide secondary market for mortgages to aid in financing of housing construction, considered undesirable, advice to Mr. Neustadt, copy of Board's letter of 6/29 April 5, 1948, to be sent Bureau of Engraving and Printing: Printing presses, purchase by FRBanks to increase production of FRnotes and Treasury 10/8 currency, views of FRBanks requested the of --ecretary Purchase of, advice to Acting 10/18 Treasury Foley ureau of Internal hevenue: Mitchell, George 1;:., leave of absence without pay from FRBank of Chicago to act as consultant on management problems of Bureau of 7/9 Internal Revenue, no objection to up set terms loans, on Reserves for bad debt losses 5/13 in mimeograph issued by B in proposal committee, goods urgess, W. Randolph, capital memorandum sent to Chairman McCabe, discussion, copy to be sent to each Board 11/23 member for consideration http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1998 2002 2015 1346 301 1415 1080 1060 1721 1776 1100 763 1969 66 Pages Burke, Hon. Raymond H., trailer coach financing, reply to 4/26 inquiry passnate elimi Burroughs Adding Machine Company, plan to books in handling savings accounts, revision of Regulations D and Q necessary for, matter to be considered and FRBanks 9/14 to be requested for comments of ion revis Savings accounts, plan for handling, Regulations D and Q necessary for, views 9/28 of FRBanks requested reply s, citie Burton, C. F., reserve and central reserve to letter re published statement in 1/16 Federal Register ction conne in Business and credit situation, discussion with consideration of increase in reserve 8/24 requirements nal natio of me outco by Business sentiment, change caused elections, statement of President Brown 11/16 at meeting of FAG with Board , Worth Fort ny, Compa Butcher, J. W.) Oliver H. Ross Piano Texas, reply to letter re applicability 9/16 of Regulation W to pianos from ry inqui to reply ts, BYrd, Harry F., margin requiremen Mr. Alfred E. Frisbie re recent opinion 5/5 on Regulation T C. & B. Electric, Inc., Walton, New York, reply to letter 9/2 from Mr. Combs re Regulation V Cadwalader, Wickersham & Taft, New York City, inquiry re reduction in interest rate on preSeptember 20, 1948 instalment loan under Section 5 (a) of Regulation W, reply 12/22 to FRBank of New York Cafeteria: Board of Governors: to Private dining rooms for Board, reservations or two for rs membe Board by be made more guests in blue room of staff dining 1/30 room, to avoid crowding in brown room red Discussion of problems re, matter to be refer 2/26. to Mr. Draper for recommendation for Brown and Blue private rooms, procedure days 60 of d 3/9 perio for ved appro use future disbe to use re n actio er furth Question of 5/14 cussed in executive session at later date and ial rs offic membe Board for Room Brown Use of guests from FRBanks, suggestion of Mr. Szymczak, Mr. Draper to submit recommendation for consideration at meeting on 6/8 June 25 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 654 1499 1626 83 1373 1907 1523 705 1432 2182 135 256 337 780 908 67 Pages Cafeteria: (continued) Board of Governors: (continued) Private dining rooms: (continued) Use of, continuation of existing temporary 6/22 arrangement approved Existing arrangement to be continued with addition of clause concerning use of 10/22 Brown and Blue rooms FRBank of Kansas City, changes to discontinue free meals to service employees and to operate 1/20 on cafeteria basis to be made Change in practice of serving free lunches to service employees to be deferred pending report of Presidents Conference Subcommittee on Personnel Classification and action by 2/12 Conference FRBanks, absorption of expenses, to be continued, discussion at Presidents Conference, study of efficiency of operation to be con5/21 tinued under present budget procedure California Bankers Association: Regulation W, renewals and revisions of real estate loans under, reply to inquiry from Mr. 11/15 H. M. Craft Capital accounts: Declining ratio lD deposits and loan accounts, matter to be discussed by Mr. Vardaman with 1/30 Mr. Clayton Increase in, discussion at Presidents Conference, arrangement for transferring funds to reserves for contingencies to be continued through second quarter of next 12/1 year Mr. of Capital goods, committee proposed in memorandum Burgess sent to Mr. McCabe, copy to be sent to each Board member for considera11/23 tion illegibility on Carbon copies, complaint of Mr. Vardaman and improvements in procedure for circulat7/13 ing memoranda order of South Cement industry case, study re effects on against use of basing point pricing system, matter to be discussed at Presidents Conference and to be considered by Committee on Currency Business Developments at 9/29 meeting in Roston http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 987 1833 92 170 815 1095 136 2020 1969 1113 1628 68 Pages Cement industry case: (continued) Study of effects of Supreme Court decision in, discussion at Presidents Conference of making by FRBank of Atlanta or apy other FRBank, decision to be deferred until recommendation of Committee on Currency Business 10/5 Developments recompricing, point basing re Supreme Court decision mendation of Committee on Current Business Developments that FRBank of Atlanta be permitted to make study, discussion, Mr. McCabe to discuss matter with Mr. . 11/5 Neely in Atlanta Census Bureau: H.R. 5607, to reduce appropriation for collection of business statistics for 1949, letter to Director of the Census urging that col3/23 lection of data not be interrupted Central banking seminar for university and college teachers of Money and Banking, discussion of experimental session and expenses, Mr. Evans and staff members to study matter 11/9 further and submit recommendation Ceylon: Exter, John, to assist in preparation of central banking legislation, Board to undertake to obtain Manager of Central Bank for future 10/19 Information furnished to State Department for 11/17 transmission to, and terms of services C hadbourne, Wallace, Parke & Whiteside, absorption of intangibles tax by New York City bank for deposits made by Indiana residents, applicability of Regulation Q, reply to 1/21 inquiry from Chapman, Dwight L., San Juan, Puerto Rico, Regulation 1J not applicable to credit outside United 11/29 States, advice to Chapman, Dr. Frederic D., arrangements to make physical examinations for Board and to be avail5/21 able for visits to Board's offices. Ch request on General Attorney to reply Crusade, ildren's 6/11 for solicitation of funds C hildren's Hospital, reply to Mrs. Aspinwall on request 6/11 for solicitation of funds China, aid to, included in discussion by Mr. Knapp of 3/19 NAC activities http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1701 1856 427 1875 1780 1932 95 1993 824 948 946 387 69 Pages Christmas greetings to foreign central banks, cards not to be sent by Board, but no objection to Board members sending Christmas party for employees approved, committee to arrange entertainment and budget of Division of Personnel Administration to be increased to cover Circulars, Board of Governors: Accounting Conference to be held in Washington September 13, advice to FRBanks Accounting procedure, simplification of, Form FR 34 and Manual of Instructions to be revised, advice to FRBanks Annual reports of holding company affiliates on Form FR 437 to be obtained, instructions to FRBanks Assistant examiners, classification under Fair Labor Standards Act, matter not to be taken into courts, Banks to abide by ruling of local office of /qages and Hours Division, advice to FRBanks Banking conditions in districts, quarterly reports, information to be obtained in next, advice to IFBanks Quarterly summary, comments requested by FRBanks on certain questions in next report Banking quarters, Mr. Smead to prepare letter to FRBanks that construction work at FRBanks would not be approved at present unless urgent Banking quarters of FRBanks and branches, extensive alterations or improvements or new building projects not to be undertaken at present except in emergency cases, advice to FRBanks Banking schools, attendance of FRBank officers and employees and Board employees, policy re selection and expenses amended, advice to FRBanks Budget procedures of FRBanks, studies re, letter to FRBanks requesting comments and suggestions, topic to be placed on agenda for Chairmen's Conference Procedure for submitting report for 1949 and subsequent years, revised instructions re Form FR 634 (a), advice to FRBanks Budgets of FhBanks for 1949 and subsequent years, instructions re statement of Bank and Public Relations program, advice to FRBanks Capital requirements of member banks, proposed bill to modify, copy sent to FRBanks and comments requested http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/3 2036 12/7 2068 8/11 1267 12/13 2114 12/14 2125 3/22 399 2/10 167 11/12 1896 1/16 80 2/27 265 6/18 970 5/14 775 7/6 1089 7/13 1116 4/30 694 70 Pages Circulars, Board of Governors: (continued) Cash items, member banks with daily average of 300 or more payable in territory of another FREank or Branch, question of routing direct or sorting and listing separately, survey and report re present situation to be made by FRBanks, advice re Classification of assistant examiners under Fair Labor Standards Act, letter to FRBanks to be prepared stating that Banks should abide by ruling of local office of wages and Hours Division Check collection circulars, changes in uniform paragraphs as approved by Presidents Confer-. ence approved by Board, advice to FRBanks Closing of books for year, procedure to be followed, advice to FRBanks Coin bags, return of empty to Mints, reply to letter from Honorable Nellie Tayloe Ross, Director of Mint, copy sent to FRBanks Condition reports of national banks and State member banks, call as of June 30, 1948, information re Schedule A, Loans and discounts requested from FRBanks Condition reports of State member banks and affiliates, forms and instructions to be sent to FRBanks for next call date. Telegraphic notice to FRBanks as to call dates, to be sent day or two in advance of day call is announced, definition of code word "Ipjev" revised, advice to FRBanks Forms and instructions to be sent to FRBanks for next call date Weekly report form, copy of revised Form FR 416 and instructions sent to FRBanks Weekly member bank reports, instructions re loans and reserves sent to FRBanks Call as of June 30, 1948 Call as of June 30, information for current needs requested re Schedule B, U.S. Government obligations, advice to FRBanks Fall call not to be made, advice to FRBanks Forms and instructions to be sent to FRBanks for next call date Conditions of membership, revision effective, Regulation H to be revised, FRBanks requested to send recommendations re program Conference of Vice Presidents of Examination Departments to be held February 12-13 to consider emamination and supervisory policies http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/9 2097 3/5 308 12/3 2045 12/28 2232 12/14 2126 7/9 1103 2/20 250 5/13 762 6/8 922 6/11 944 6/22 6/30 990 1063 7/26 9/9 1165 1471 11/8 1870 6/11 942 1/21 96 71 Pages Circulars, Board of Governors: (continued) Credit controls, recommendations for legislation, letter to be prepared to Chairmen asking for suggestions, Mr. Evans to 7/20 prepare draft Credit information re importers of Japanese products and prospective exporters to, confidential material to be furnished upon request of 10/15 Department of Army, advice to FRBanks Custody receipts for collateral securing loans to member banks, proposed procedure, comments 4/5 and views of FRBanks requested Procedure, revised statement approved, advice to . FRBanks7/2 Deposits by member or nonmember clearing banks in FRBanks or branches of daily average of more than 300 cash items payable in territory of another FRBank or branch, list 6/9 of banks requested Description of cash items, elimination from check collection circulars or time schedules of uniform paragraph relating to, approved, 4/7 advice to FRBanks Dividend, semiannual payment for first half of 1948 6/23 approved Earnings and dividends reports, forms and instructions for semi-annual report to be sent to 6/8 FRBanks Forms and instructions to be sent to FRBanks for 11/3 1948 report Economic situation, letter to Chairmen requesting opinions of directors re current and 11/29 prospective Economists at FRBanks, official status for senior, advice re change in status of three 10/28 at FEBank of Chicago of Powers Essay by Mr. Solomon on Steps to Restore States and Localities, to be listed in October issue of FRBulletin and copies 10/5 to be available, advice to FRBanks annual Examination schedule of State member banks, examinations to be maintained as policy, letter to FRBanks requesting advice as 8/3 to developments reinformation FRBanks, emergency electric power, 6/2 quested re equipment Collections on Committee FRExchange drafts, report of re issuance and payment approved, advice 1/23 to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1131 1773 536 1079 927 558 1018 924 1847 1986 1830 1708 1204 897 113 Circulars, Board of Governors: (continued) FRnotes, interest rate, establishment for three months period ending December 31, 1947, advice to FRBanks Interest rate, establishment for three months period ending March 31, 1948, advice to FRBanks Establishment for three months period ending June 30, 1948, advice to FRBanks Interest rate, establishment for three months' period ending September 30, 1948, deduction for contingent reserves to be increased to $15,000,0001 advice to FRBanks Fiscal agency expenses, absorption of reimbursable, procedure to be followed re Treasury requests, advice to FRBanks Fiscal agency operations, payment of card checks, to be absorbed by FRBanks, recommendation of Committee on Fiscal Agency Operations approved, advice to FRBanks Foreign relationships of FRBanks, statement of procedure amended to eliminate weekly telegraphic advice of earmarked gold and securities held in custody for foreign accounts Functional expense reports, Form FR 634, to be submitted quarterly, instructions to FRBanks Indebtedness and outside business relations of Board's staff and officers and employees of FRBanks, policy of Board re, advice to FRBanks Industrial loan experience data, no objection to furnishing to student of Wharton School of Finance and Commerce, advice to FRBanks Inflation, recommendations for legislation to restrain, review of replies to wire to directors of research at FRBanks asking views re Federal Reserve policy Interest paid on FRnotes, manner of showing in earnings and expense statements of FEBanks 14ans to businesses, interest rate charged on, revised reporting form for collecting information, letter to FRBanks reouesting views Loans to FRBank employees, no objection to continuance of funds for, existing authorized limit not to be increased more than 4a5,000 without Board approval, advice to FRBanks Mail, increased domestic postage rates and special service fees, copies of letter from Post Office Department sent to FRBanks Me mbership conditions, letters to FRBanks in connection with amendment to Regulation H with instructions and suggested letter for use in advising State member banks re program http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 72 Pages 1/2 5 4/27 679 7/23 1155 10/27 1822 11/8 1869 12/30 2243 11/17 1937 1/8 32 3/24 438 4/14 585 7/23 1152 1/5 13 1/8 30 3/12 364 12/28 2235 8/5 1231 73 Pages Circulars, Board of Governors: (continued) Military service, policy statement re employees entering service under Selective Service Act of 1948, draft sent to FRBanks for com7/30 ments Policy re employees entering under Selective Service Act of 1948 approved, advice to 8/16 FRBanks Policy re employees entering service under Selective Service Act of 1948 approved with addition10/25 al salary benefits, advice to FRBanks National banks, proposed legislation to authorize conversion into and consolidation with State banks, Board opposed to, draft of letter to ABA. 12/14 sent to FRPanks for comments Ninety-day rule in special cash account, ruling to be published in Federal Register, copies 4/23 sent to FRBanks Nonmember commercial banks eligible for membership on basis of statutory capital requirements, 5/4 compilation of number requested Nonmember commercial banks eligible and ineligible for Federal Reserve membership, copies of 5/19 table showing number sent to FRBanks Operating ratios of member banks for 1948, work sheets 11/4 (form FR 456) sent to FRBanks for data Outside business affiliations and teaching activities at FRBanks, letter to be prepared and 1/23 submitted for consideration Par List, printing of July 1948 issue authorized, FRBanks reouested to send revised form showing 6/17 changes instructions Proof copy sent to FRBanks for checking, 7/20 for submitting additional information and Engraving of Bureau Printing presses, purchase from Printing to increase production of FEnotes and Treasury currency, views of FRBanks 10/8 requested and Engraving of Bureau Assessment for purchase by 10/29 Printing, advice to FRBanks at taken be to action Rates, discount, increase in, next directors' meetings, advice to 1/6 FRBanks notes of discount re Regulation Alamendment proposed of producers under Commodity Credit Cor10/26 poration program, comments requested be to published ruling (5), Regulation F, section 17(c) 8/27 in FRBulletin http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1184 1287 1810 2124 643 701 805 1852 105 965 1138 1722 1834 14 1817 1396 74 Pages Circulars, Board of Governors: (continued) Regulation J, amendments to authorize procedure for conditional payment of checks and return of unpaid items on next succeeding business day after receipt by drawee banks, copies sent to FRBanks for comments and 3/12 suggestions amendments proposed adopt to proposal Notice of to be published in Federal Register, copies sent to FRBanks, comments requested 4/7 member banks on proposed amendments for Statement 4/13 sent to FRBanks No hearing to be held, advice re error in American 4/30 Banker Amendments re delayed return of unpaid items adopted, 11/24 advice to FRBanks and ABA Amendments, material to be furnished to banks, advice re number of reprints of Regulation 11/26 requested 7/1 FRBanks to advice approved, amendment LI Regulation Regulation T, reprinted copies to be sent to brokers and dealers registered with SEC, advice 7/16 re number of copies needed, requested s substitution permit to amendments U, and T Regulations in under-margined accounts approved, advice 3/5 to FRBanks Regulation W, Consumer Instalment Credit, issuance of new, advice re certain questions requested in 8/9 telegram to FRBanks Views of FRBanks re changes to be made in new regula8/13 tion requested Adoption of, material to be sent to FRBanks for 8/17 printing and distribution of regulation conAdministration, advice re plans for, comments cerning monthly reports, summary, and issuance of new outline of loan provisions 9/3 requested Air conditioners, room unit, portable units in excess of 1 horsepower rated capacity not included in classification advice to 10/11 FRBanks anticipain Amendment to permit delivery of article tion of instalment sale without down payment, proposed revision sent to FRBanks for 10/15 comments of InstalAnticipation Amendment No. 1, Delivery in 10/27 ment Sale, adopted, advice to FRBanks ns interpretatio published Amendments to summary of re prefabricated decorative fireplaces 12/6 and milk coolers, advice to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 361 556 573 694 1975 1983 1071 1127 317 1250 1284 1316 1440 1736 1766 1821 2065 75 Pages Circulars, Board of Governors: (continued) Regulation WI Consumer Instalment Credit: (continued) Amendment No. 2 re exemption of articles selling for .1.4 50 or more only because of inclusion 12/17 of sales tax approved, advice to FRBanks Applicability to sale of refrigerators to owners of 11/5 apartment houses, advice to FRBanks Automobile appraisal guides, press release re 9/10 designation, advice to FRBanks Appraisal guides, advice re publications, territories, and addresses of publishers sent to 9/15 FRBanks Conference, to be held on October 7 and 8, advice 9/17 to FRBanks Advice re agenda and suggestions requested from 9/23 FRBanks 10/1 Agenda for, copies sent to FRBanks Curtailment of business by provisions, replies to letters re, copy sent to FRBanks for 12/15 help in answering similar inquiries Enforcement program, instructions and revised 9/2 outline sent to FRBanks Instructions and revised outline sent to FRBanks 9/22 Enforcement reports, revision, copies and instruc11/5 tions for use sent to FRBanks 12/14 Zummary for October sent to FRBanks 12/28 Summary for November sent to FRBanks Evaporative air coolers without refrigerating unit not classed as air conditioners under, 10/18 advice to FRBanks Exemption of credit to automobile salesman to finance purchase of new automobile for use 11/12 as demonstrator, advice to FRBanks Exemption of taxicabs from, information re State laws and comments re reluested from 12/7 FRBanks prior made arrangements credit for Extensions of to September 20, interpretations not to be published before September 20, but 9/2 advice re sent to FRBanks effective date to prior Extensions of credit made of Regulation, copies of Board's telegrams 10/6 re sent to FRBanks FRBanks to 9/22 sent Certificate, form Identification under amount principal Instalment payments and Part 2 of supplement, interpretation re 9/2 sent to FRBanks not otherwise organizations Loans to employees by engaged in instalment credit business, applicability of Regulation, advice to 10/27 FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2154 1865 1488 1508 1526 1607 1668 2131 1426 1594 1863 2122 2228 1776 1894 2087 1431 1711 1598 1428 1827 76 Pages Circulars, Board of Governors: (continued) Regulation W, Consumer Instalment Credit: (continued) Modification to permit more liberal instalment terms in connection with sale of nev automobiles, advice to FRBanks re receipt of telegrams requesting, but no change 12/20 contemplated 9/8 to FRBanks advice ments, arrange 20 tember Pre-Sep 9/29 FRBanks to advice re, nt stateme Press section of etation interpr , records of ation Preserv 12/13 8(a) sent to FRBanks by ed discuss be to subject in, changes d Propose FRBanks with national as . 9/2 advice to FRBanks Registration Statement and Certificate, forms and instructions for reproduction sent to 9/16 FRBanks with Registration statements, procedure for dealing defects and inconsistencies, advice to 10/11 FRBanks cern, Registration statements from Rexair salesme tificates not to be issued until further 10/12 advice Corpora Registration arrangements for Martin-Parry tion (successor to Rexair Corporation) 11/4 completed, advice to FRBanks and Registration, deadline date, advice to FRBanks 11/15 copy of press statement re Registration of Air-Way companies, advice to 11/17 FRBanks ion, tabulat Registration statements, procedure for 12/1 instructions sent to FRBanks antiin article Section 6(g), delivery of listed cipation of instalment sale, interpretation to be published in FRBulletin, 12/15 advice to FRBanks coopand FRBanks for Service in loose-leaf style erating agencies, procedure adopted, 12/10 advice to FRBanks r 2, Novembe before issued Summary of interpretations 1947, applicable under new Regulation, 10/8 copies sent to FRBanks or banks by value credit Verifications of maximum finance companies in purchasing or discounting automobile instalment paper, 12/1 not required, advice to FRBanks ons Bank Operati of Division by d Work to be performe under direction of Mr. Leonard, Mr. Brown to assist until resignation, advice to 9/10 FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2159 1469 1639 2113 1432 1515 1735 1750 1852 1904 1936 2008 2132 2104 1727 2008 1478 77 Pages Circulars, Board of Governors: (continued) Reserve and central reserve cities, classification and continuance of, statement to be published in 2/20 Federal Register, advice to FRBanks Reserve for premium on Government securities, procedure to provide for rapid amortization of premiums 3/15 on securities, comments of FRBanks requested Procedure to provide for rapid amortization of premiums on securities, action to be deferred until 3/24 discussion at Presidents Conference Reserve proposals, tests to determine effects on individual banks to provide information to present at hearings of Joint Committee on Economic 3/18 Report, advice to FRBanks Reserve requirements of central reserve city banks, amendment to supplement to Regulation D to increase 1/23 to 22 per cent approved, advice to FRBanks Penalties br deficiencies, discussion of proposed letter to FRBanks, no change to be made in instructions re waiving, question of inequities resulting from computation to be studied further, 2/13 letter to FRBank of Chicago to be revised Commercial banks, suggestions of Chairmen requested by Chairman McCabe before hearings on monetary controls, suggestions and comments welcomed 4/26 on any System problems Increase in, letter to Chairmen to correct wrong impres6/25 sions not be sent Nonmember banks, authority of Board to increase, draft of bill to be revised, copies to be sent to 8/4 counsel of FRBanks for suggestions 9/8 Increase for member banks approved, advice to FRBanks Reserves for bad debts on loans, changes in condition and earnings and dividend report forms approved, 5/13 advice to FRBanks Reserves than rather made be to for contingencies, addition to change existing 90% arrangement with Treasury, FRBanks to be advised, matter to be placed on agenda for next Presidents 6/25 Conference present, for continued Arrangement with Treasury to be advice to FRBanks, procedure to be discussed 7/1 at next Presidents Conference at additional end of Letter to Mr. Sproul re setting up of year and comments re his preference for 12/28 credit to surplus, copies sent to FRBanks Re Re' computation for bank, member in deficiencies 11/9 holiday periods, advice to FRBanks Retirement system, retentions to be made only in exceptional cases, retirement status after 90 days and compensation not to be more than salary less retirement benefits, comments of FRBanks requested and matter to be discussed 1/6 at Presidents Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 248 369 442 384 108 176 649 1040 1221 1468 763 1035 1072 2233 1884 25 78 Pages Circulars, Board of Governors: (continued) Retirement system, (continued) Changes resulting from recent legislation, notice to 3/23 all participants Salaries of FRBank officers, procedure for considering, information to be sent to Board in advance of 8/3 time for informal action, advice to FRBanks Savings prohandling, accounts, Burroughs Company plan for posed amendments to Regulations D and Q re, 9/28 views of FRBanks requested Section 32 of Banking Act of 1933, review of application to existing interlocking relationships, informa1/27 tion requested from FRBanks Security by cooperate . to loan drive by Treasury, FRBanks 4/5 extension of facilities to Treasury Service charge against ordinary noncash collection items returned unpaid and unprotested, to be optional with FRBanks, recommendation of Presi1/12 dents Conference approved, advice to FRBanks Small business, reports of inadequate financing facilities, 7/15 to be discontinued, advice to FRBanks Stilt', Background Their Statistics, Debits and Clearings and Interpretation, by George Garvy, FRBank of New York, available for distribution, 3/11 advice to FRBanks Sub stitutions in undermargined accounts under recent amendment to Regulation T, ruling to be published in FRBulletin and Federal Register, advice to 3/26 FRBanks TrUst examiners' conference, to be held in New York on Feb1/12 ruary 5, 6, and 7, advice to FRBanks Trust funds, deposit in member bank's own banking department in single time deposit, open account, or in single savings deposit, ruling to permit under Regulation D, draft of letter re sent to 11/19 FRBanks for consideration and comments United States Savings Bonds, valuation in common trust funds, statement to be published in FRBulle3/24 tin, copy sent to FRBanks Vi olations of criminal provisions of Federal banking laws, procedure for reporting as result of enactment 8/19 of new Criminal Code, advice to FRBanks -Lars, FRBanks: 2/27 C0 - collection, clarification of authority to issue 11ect1on of cash items, changes required by amendments to Regulation J approved by Presidents' 12/1 Conference Civ ,Uniform paragraphs for inclusion in, approved 12/3 Faoervice Commission: ir Employment Officer, Mr. Herbert A. Johnson to continue 11/10 as, advice to Federal tIral Employees Loyalty Program, letter to Mr. Mitchell 3/31 re status in Board of Governors http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 408 1218 1626 116 539 56 1123 356 459 57 1945 441 1335 268 2011 2045 1886 492 79 Pages Civil Service Commission: (continued) Retirement Act, amendment of, changes incorporated into Board Plan and resolution adopted modifying provisions of paragraph (5) of Board's 3/23 plan, advice to Mr. Rounds Clark, John D., Presidents' Council of Economic Advisers, statement re Federal expenditures as result of Presidents' message to Congress re European 3/19 recovery program and military service legisfor ions recommendat Advice re probable inclusion of lation re credit controls in President's 7/20 message to Congress Clayton Act: Transamerica Corporation, antitrust litigation against, report of Mr. Townsend on status of investiga4/2 tion to on investigati of report against, Antitrust proceeding 5/25 be made by Mr. Townsend 5/26 Townsend Mr. by on Report of investigati Proceeding to be instituted, letters of advice to be sent to Attorney General, Comptroller of the Currency, and Chairman of FDIC, Messrs. Evans, Clayton, and Townsend to recommend action as to procedural questions to be con5/26 sidered 5/27 Procedure approved Advice to Attorney General, Comptroller of the Currency, 5/27 and FDIC of decision to institute to copies hearing, of notice and complaint of Issuance be sent to Attorney General, Comptroller of the Currency, Chairman of FDIC, and President of FRBank of San Francisco, no publicity 6/23 to be given to case Reply to letter from Mr. Giannini questioning Board's authority to institute proceeding, approved after discussion and advice of Mr. Townsend 8/3 Cooperation of Comptroller of the Currency expected in 8/24 case Reply of Comptroller of the Currency to letters from 8/31 Board re effect of expansion policy Proceedings by Board, confidentiality of, no record at present to be sent out, advice to Mr. 9/2 Reynolds, Walker's Manual, Inc. Complaint against, demand for additional details re, 9/21 Board's response denying request approved Complaint for injunction filed by, Mr. Townsend authorized to file motion to dismiss and to ask Judge Morris to set date for early hearing 10/11 Motion to disqualify Messrs. Eccles and Clayton, discussion and decision for both Board members to 12/3 disqualify themselves http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 405 390 1131 521 840 849 855 862 864 992 1207 1366 1402 1435 1550 1729 2041 80 Pages Clayton Act: (continued) Transamerica Corporation: (continued) Motion to disqualify Mr. Clayton, no present disposition to be made of, but Mr. Clayton to refrain from participation in Statement and order of Board denying motion for oral argument and determination of motions not filed and motion for production of mxterial in Board's files Order that oral argument be held on December 11, 1948, in Washington Hearing to be resumed after first of year, oral arguments on motions filed by Corporation to be held on December 101 1948 Order to hold oral argument on motions on December 11, 1948, approved Proceeding against, order changing date for oral argument from December 11 to December 13, 1948, approved Order to include motion to disqualify Mr. Clayton in list for oral argument, approved Hearing at Board, oral arguments made on motions filed by, brief to be filed by Mr. Stewart, answer to be filed by Mr. Townsend, and then Board to consider matter, transcript of arguments filed Clearing ana collection: Ab sorption of exchange charges, topic withdrawn from agenda for Presiaents Conference by Mr. McLarin because of lateness of hour Inquiry from First National Bank, Madison, Visconsin, re letter from Wisconsin Life Insurance Company concerning bank's practice of Absorption of intangibles tax by New York City bank for deposits made by Indiana resiaents, applicability of Regulation Q, reply to inquiry from Chadbourne, Wallace, Parke & Whiteside Ab sorption of shipping charges for currency, reply to letter from Mr. Covey, Polk County Bank, Bolivar, Mo., re practice of banks Abs°rPtion by member banks of costs of shipping currency, letter from Mr. Berry on applicability of Regulation Q Bank of Canada, procedure of FRBank of New York for handling cash items on cash basis approved Cash collection circulars of FRBanks, amended, copies as result of changes in Regulation J to be sent to member banks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/6 2055 12/6 2056 12/6 2059 12/7 2072 12/7 2083 12/8 2092 12/10 2106 12/13 2108 2/27 288 10/29 1835 1/21 95 3/16 373 9/1 1.421 4/27 680 11/26 1984 81 Pages Clearing and collection: (continued) Cash items, member bunks with daily average of 300 or more payable in territory of another FRBank or Branch, recommendation of Committee on Collections that direct sendings and sorting and listing separately not be required, if approved by Presidents Conference, Board to discuss matter further before decision 10/1 Requirement for routing direct or sorting and listing separately, recommendation of Presidents Conference Committee on Operations that it be not effectuated, matter to be studied further by Board 10/5 Direct sending or sorting and listing separately, letter to FRBanks re procedure to be followed to be 11/23 revised by Mr. Smead Question of routing direct or sorting and listing separately, survey and report re present situation to be made by FRBanks, advice to FRBanks re 12/9 C ollection of cash items, changes in uniform paragraphs of check collection circulars, required by amendments to Regulation J, recommendations of Presidents Conference approved 12/1 Central Hanover Bank and Trust Company, New York, question of operation of private wire service involving payment of interest on deposits, matter referred to FRBank of New York 7/1 Charge accounts, number 8581 Loose-Leaf Service still applicable to conversion of, advice to FRBank of 9/9 Cleveland Chase National Bank, New York, N. Y., question of operation of private wire service involving payment of interest on deposits, matter referred to FRBank of New York 7/1 Cheor - collection circulars, clarification of FRBank authority to issue, recommendation of Presidents Confer2/27 ence Committee on Operations approved Changes in uniform paragraphs as approved by Presidents Conference approved by Board, advice to FRBanks 12/3 Check collection procedures, immediate credit for all cash items anu elimination of sorting transit items by reserve districts and direct sendings to FRBanks, no decision to be reached before canvassing all FRBanks, discussion at meeting of FAC 4/27 Discussion at conference with Association of Reserve City Bankers, letter to Mr. Sproul correcting impressions received from report of Committee on Correspondent Bank Relations 5/6 Ilultional payment of checks and delayed return of unpaid items, statement on proposed amendments to Regulation J to be sent to member banks 4/13 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1662 1674 1960 2097 2011 1070 1474 1070 268 2045 657 714 573 82 Pages Clearing and collection: (continued) Deferred availability for cash items payable in other FRBank and branch cities, policies re, time schedules to be clarified, discussion at Presidents Conference of competition between member and nonmember banks and disadvantages of, matter to 10/5 1677 be studied further in and time in difference Deferred credit for country items, method of determining deferred availability at FRBanks, matter to be referred to Committee on Collections to consider adoption of uniform 6/2 896 practice banks remitting par on drawn Deferred credit for country items located in States included in more than one Federal Reserve district, recommendation of, President's Conference Committee on Operations that no change in policy of FRBank of Chicago 10/5 1674 no objection to J, Regulation to amendment Delayed return be items, cash of unpaid ma°e2 recommendation of Committee on Operations that joint report be approved adopted, amendments to be sent to FRBanks for consideration, procedure 2/27 267 approved at Presidents Conference Deposits by member or nonmember clearing banks in FRBanks or branches of daily average of more than 300 cash items payable in territory of another FRBank or 927 6/9 branch, list of banks requested De collection check from elimination scription of cash items, circulars or time schedules of uniform paragraph 558 4/7 relating to, approved, advice to FRBanks Direct sendings of member banks where volume of checks in territory of another FRBank or branch averages 300 or more per day, letter to FhBank of 1/27 119 Chicago Letter to FRBank of Chicago in reply to letter re items 3/11 355 FRPin St. Louis and Minneapolis Districts -xchange drafts, report of Committee on Collections re issu1/23 113 ance and payment approved, advice to FRBanks ncash collection circulars, amendment recommended in report of Committee on Collections approved, advice 1/28 126 to FRBank of Richmond Par and payment of interest on demand deposits, 12/2 2029 reply to inquiry from Bangert & Bangert 12/23 2195 a , to further inquiry from Bangert & Bangert Reply r r list, Printing of July 1948 issue authorized, FRBanks re6/17 965 quested to send revised form showing changes Proof copy sent to FRBanks for checking, instructions for 7/20 1138 submitting additional information Pho tographic records of outgoing cash items, practice adopted by FRBanks of Boston, Cleveland, and Minneapolis, to be discussed by Banks during consideration of 1949 budgets, letters of advice to be sent to 9/21 1548 three banks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 83 Pages Clearing and collection (continued) Photographic records of outgoing cash items: (continued) Practice of FRBanks of Boston, Cleveland, and Minne12/6 apolis to be questioned in budget letters Further information re amount in budget requested from 12/27 FRBank of Boston Further information re amount in budget requested from 12/27 FRBank of Cleveland requested from budget in amount re Further information 12/27 FRBank of Minneapolis Private wire system inaugurated by Bankers Trust Company of New York, letter from Mr. Berry, President, Whitney National Bank, New Orleans, La., re 9/1 applicability of Regulation Q Regulation J, amendments to authorize procedure for condi-, tional payment of checks and return of unpaid items on next succeeding business day after receipt by drawee banks, copies sent to FRBanks 3/12 for comments and suggestions Notice of proposal to adopt to be published in Federal Register, copies sent to FRBanks, comments 4/7 requested Proposed amendments to authorize procedure for conditional payment of checks and delayed return of unpaid items, statement for member banks sent to 4/13 FRBanks No hearing on proposed amendment to be held, advice re 4/30 error in American Banker Amendments to be adopted upon receipt of model statute from ABA re Conditional payment of checks, 7/15 letter to Mr. Lawson Amendments re delayed return of unpaid items adopted, 11/24 advice to FRBanks and ABA Savings accounts, Burroughs Company plan for handling, revision of Regulations D and Q necessary for, matter to be considered and FRBanks to be 9/14 requested for comments Service charge against ordinary noncash collection items returned unpaid and unprotested, to be optional with FRBanks, recommendation of Presidents Con1/12 ference approved, advice to FRBanks interof Trallsfers of funds, closing hours foracceptance 2/27 district telegraphic ec3cle l'rords. IPielr, condition reports, definition revised, advice to 5/13 FRBanks C°48. Code warning signal to be attached to dictaphone equipment in Secretary's office, expense to be charged to current year's budget http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/1 2054 2206 2209 2211 1421 361 556 573 694 1122 1973 1499 56 269 762 1074 84 Pages Codes: (continued) Commercial Code, preparation by committee of American Law Institute, suggestions requested re, Mr. Vest to discuss matter with Mr. Davis, and Code to be reviewed by Reserve Bank Counsel and Board's Counsel if agreeable and comments sent to Law 6/11 Institute Coin bags, return of empty to Mints, reply to letter from Honorable Nellie Tayloe Ross, Director of Mint, copy 12/14 sent to FRBanks Collateral, custody receipts for, securing loans to member banks, 5/21 acceptance by FRBanks Colorado Bankers Association, invitation to luncheon extended by 4/15 Board to Mr. Breeze for April 29, 1948 Company: RePPrting C451111171bia Stenographic transcripts of testimony of Messrs. McCabe, Eccles, Sproul, Young, Leedy, and Williams before Senate and House Banking and Currency 8/27 Committees, payment approved Combs, H. L., C. & B. Electric, Inc., Walton, New York, Regulation 1,1, reply to letter re regulation and 9/2 enforcement of Collaillission on Organization of Executive Branch of Government, request for space in Board building, matter 3/30 referred to Mr. Draper Sloace in FRBuilding to be assigned for use of, advice to 4/5 Mr. S. A. Mitchell RePort on international activities of Board prepared for 7/20 connection with work for comm4.,(See also Hoover ort r1 ro ) si lls'e i ees: " -- 937 2126 811 589 1398 1432 483 540 1137 American Bankers Association on Government Borrowing to meet with Secretary of the Treasury to discuss rates 660 4/27 on bills and certificates Banking and Currency Committees of House and Senate: Reserve requirements and consumer instalment credit, legislative proposals to be discussed by 12/31 2255 Chairman McCabe with Chairmen Banking and Currency of Senate: National Monetary Commission, Mr. Vest to assist Mr. 1723 L'Heureux in preparing draft of bill to create 10/8 Corporation Transamerica Request for correspondence with or Bank of America N.T.and S.A. on applica433 3/24 tions for branches Board of Governors: Personnel: Assignment of subjects for primary consideration and 774 5/14 appointment of members for 1948 be to to made reports Loyalty procedures, favorable 7/22 1145 Chairman of, amendment approved on of Welfare Directors of Meeting with Committee Staff of FRBank of New York, postponed because 306 3/5 of delay in confirmation of Mr. McCabe http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Committees: (continued) Board of Governors: (continued) Personnel: (continued) Members, appointment for 1948 to be deferred until after confirmation of Mr. McCabe and assump2/26 tion of his duties as Chairman Per diem allowances in travel regulations, to submit recommendation as to changes 5/14 Senior member to work with Chairmen's committee on 1/9 revision of Balderston Report approved 3/18 Statement of Personnel Policy To submit recommendation re appointment of Assistant 10/1 Director of Division of Examinations should be requests submitted Travel authorizations, to, before action by Board 4/2 . Travel regulations, approval of Board members' official trips, recommendation of Mr. Vardaman that approval not be required, matter referred to 9/14 Travel authorizations for Board members, objection of Mr. Vardaman to procedure, question to be 9/21 referred again to for recommendation Building Committee of FRBank of St. Louis, to meet with 5/6 Board on May 18 Capital goods committee, proposal in memorandum of Mr. Burgess, copy to be sent to each Board 11/23 member for consideration Chairmen's Conference: Balderston Report, revision, Messrs. McCabe and Avery to work on, Mr. Evans, as senior member of 1/9 Personnel Committee, to work with Budgets of FRBanks, committee to develop standards for research and statistics, bank and public 12/6 relations, and provision of personnel Retirement System, Mr. Draper to discuss investment 9/21 policies with Letter re investment policy and procedure to be 10/1 sent to after Presidents Conference Salaries of Board and staff, increase to be recommended by committee consisting of Messrs. Dearmont, Brainard, and Caldwell, Board not in favor of, executive com1/9 ' mittee to be advised Committee on Secured Consumer Credit, American Bar Association, request of Mr. Myerson for designation of member of Board's staff on, to be 8/10 declined Consumer credit statistics, reply to letter from Mr. Beckman, Ohio State University re formation and suggested meeting with Board representatives, 7/6 Mr. Bonnar Brown to work with http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 85 Pages 256 784 41 381 1663 527 1498 1550 718 1969 41 2050 1546 1660 41 1259 1090 86 Pages Committees: (continued) Council to coordinate domestic policies of Government lending agencies, desired by Council of Economic Advisers, Messrs. Young and Solomon to report 12/21 on discussions at informal conference Current Business Developments, to be asked to consider study re order against use of basing point pricing system in cement industry and effects on South 9/29 Study of effects of Supreme Court decision in Cement Company case discussed at Presidents Conference, recommendation of Committee to be made 10/5 before decision Study re basing point pricing decision by Supreme Court, recommendation that FRBank of Atlanta be permitted to make, Mr. McCabe to discuss matter 11/5 with Mr. Neely in Atlanta Economic basis of Federal Reserve policy, Board committee of Messrs. McCabe and Eccles, with Messrs. Szymczak and Draper as alternates, appointed 10/12 for consultation re statement to be prepared Staff committee of Messrs. Thurston, Morrill, Riefler, Thomas, Vest, and Carpenter to draft state10/12 ment Editorial Committee of Staff, Mr. Riefler selected as third 5/25 member to succeed Mr. Parry Federal lending agencies, proposed advisory group to coordinate domestic policies, draft of letter to be considered by Board before submission to 12/23 technical group Federal Loan Policy, draft of letter re establishment approved, to be discussed with Mr. Lynch, Treasury Department, Secretary Snyder, and at meeting under auspices of Chairman of Council 12/28 of Economic Advisers Federal Open Market: Executive: 5/14 Appointment of members and alternates for 1948 22 so or 21 Meeting to be postponed until April that Mr. Sproul can attend after Bogota 4/7 Conference Meeting to be called to discuss proposed increase in reserve requirements, to be informed of Board's 9/7 views Reserve requirements, meeting to discuss, statement 9/8 of Chairman McCabe and October, September Treasury financing program for reply to letter from Secretary of Treasury 8/11 approved by ion program, anti-inflat on Letter to Secretary of Treasury referred to in connection with reserve require7/23 ments http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2162 1630 1701 1856 1744 1744 845 2192 2216 774 554 1457 1462 1265 1150 87 Pages Committees: (continued) Federal Open Market: (continued) Marketable issues of Government bonds, public announcement re obtaining par plus accrued interest at member banks of FRSystem suggested as means of making membership more attractive and as aid to stabilization of bond market, 11/5 matter to be considered by 1948 17, May of week 3/23 for program Meetings, tentative 10/5 1948 December 1, 29 November on Next to be held 10/8 Next to be held on November 29 - December 1, 1948 Policy record: Draft of entries for 1947 sent to representative 2/25 members for comments and suggestions 3/17 Approved Support of Government security market, no change in policy at present, consensus of executive 9/21 committee, statement at FAC meeting Treasury financing program for September and October, discussion of points in Secretary Snyder's letter, draft of reply to be prepared by Mr. McCabe after conference with executive 8/10 committee re increase in bill rate PRBank of New York: Committee of Directors on 'vlelfare of Staff, to discuss salary policy and salaries of officers with 1/30 Board on March 5 postponed Board of Committee Personnel Meeting with 3/5 because of delay in confirmation of Mr.McCabe Invited to come to Nashington to discuss salary 4/7 policy at future date Meeting with Board to discuss salary policy to be held on May 14, proposals to be considered 5/7 at subsequent Board meeting Porei-n t assignments of staff members, Messrs. Szymczak, Riefler, Thomas, and Southard appointed to 10/19 make recommendation re procedure and terms Gov ernment lending agencies, coordination of domestic policies, Messrs. Young and Solomon to prepare draft of letter to outline informal means for, without contemplation of passage 12/21 of legislation Use of Representatives: APpropriations, passage of H.R. 5607 to reduce appropriation for collection of business statistics for 1949 by Census Bureau, letter to Director of the Census Bureau, letter to Director of the Census urging that collection of data not be 3/23 interrupted Information re rentals of office mechanical equipment and business machines sent to Mr. Robert E. 9/22 Lee, Chief, Investigative staff http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1860 403 1702 1724 254 380 1569 1254 132 306 549 725 1783 2168 427 1593 Co u nittees: (continued) House of Representatives: (continued) Banking and Currency Committee, draft of letter to Chairman Wolcott re housing legislation, not 3/17 to be sent at present time 866, S. legislation, housing re Resolution of FAC 5/7 sent to Chairmen Wolcott and Taft program anti-inflation on testify to Chairman McCabe 7/30 before, discussion of statement to be made program, anti-inflation re Statement of Mr. McCabe revision to include nonmember banks in pro8/2 posed reserve legislation approved program, anti-inflation re McCabe Statement of Mr. article by Doris Fleeson in Evening Star re . 8/4 changing, discussion of Commerce: Interstate and Foreign S.2564, exemption of securities issued by International Bank for Reconstruction and Development, Board in favor of enactment, advice to Mr. 5/6 Wolverton Public Lands, reply to request of Mr. Welch on value of property under jurisdiction of Board and Banks 2/18 Un-American Activities, access to files requested for Mr. Johnson to obtain loyalty information re Board employees, letter to Chairman J. Parnell 5/12 Thomas Housing legislation, Messrs. Draper and Wood and representative from Legal Division to discuss matters 5/18 with Housing and Home Finance Agency Independent Regulatory Commissions, Hoover Commission, report on Board prepared by Mr. Bach for, question of Board comment on, additional copies to be requested and Mr. Szymczak to talk with Mr.McCabe, 8/26 staff members to discuss matter with Ar. Bach Report on Board prepared by Mr. Bach for Committee on, statement of Mr. Szymczak re talk with Mr. Bowie and Chairman McCabe, matter to be placed 8/31 orickket for September 7 Industrial Advisory: FRBank of Atlanta: 1/13 French, W. W., reappointment approved 1/13 Milner, I. C., reappointment approved 1/13 Randall, Luther H., reappointment approved 1/13 Sanford, John E., reappointment approved 1/13 Winship, George, reappointment approved FRBank of Boston: 1/9 Dennett, Carl P., appointment for 1948 1/9 Draper, Paul A., appointment for 1948 1/9 1948 Graham, Edward M., appointment for 1/9 Lewis, J. Colby, appointment for 1948 1/9 1948 Thompson, Ralph E., appointment for FRBank of Chicago: 1/13 Doyle, Edward, reappointment approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 88 Pages 374 739 1179 1188 1224 712 222 758 791 1383 1410 59 59 59 59 59 49 49 49 49 49 59 89 Pages Committees: (continued) Industrial Advisory: (continued) FRBank of Chicago: (continued) Harnischfeger, Walter, reappointment approved Kerwin, Edwin M., reappointment approved Moxley, G. Barret, reappointment approved Palmer, James L., reappointment approved FRBank of Cleveland: Emerson, Sam W., reappointment for 1948 Hood, C. F., reappointment for 1948 Ladds, H. P., reappointment for 1948 Neff, Herman R., reappointment for 1948 Withington, W., reappointment for 1948 FPBank of Dallas: Hamon, Jake L., reappointment for 1948 Moore, Charles R., reappointment for 1948 Moore, Ira T., reappointment for 1948 Pollock, Lawrence S., reappointment for 1948 Simmons, E. P., reappointment for 1948 FRBank of Kansas City: Forrester, D. Bruce, reappointment for 1948 McNally, Thomas, reappointment for 1948 Thompson, Mason L., reappointment for 1948 Vacancies, not to be filled FRBank of Minneapolis: Bush, John M., reappointment for 1948 Follett, C. O., not reelected member Miller, Albert I., reappointment for 1948 Wood, Sheldon V., reappointment for 1948 FRBank of New York: Nelson, Arthur G., reappointment for 1948 Noble, Edward J., reappointment for 1948 Pouch, William H., reappointment for 1948 Vacancies, not to be filled at present PRBank of Philadelphia: Miller, Harry L., appointment for 1948 Mechling, B. F., appointment for 1948 Powlison, Keith, appointment for 1948 Schultz, Daniel H., appointment for 1948 Skinner, James M., appointment for 1948 PRBank of Richmond: Dennis, Overton D., reappointment for 1948 Holtzclaw, J. G., reappointment for 1948 Manning, William L., reappointment for 1948 Stuart, Walker D., reappointment for 1948 Whitehurst, John L., reappointment for 1948 PRBank of St. Louis: Finch, M. E., reappointment for 1948 Heuser, G. A., reappointment for 1948 Norris, Wm. K., reappointment for 1948 VanDyke, Jacob, reappointment for 1948 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/13 1/13 1/13 1/13 59 59 59 59 1/20 1/20 1/20 1/20 1/20 92 92 92 92 92 2/20 2/20 2/20 2/20 2/20 248 248 248 248 248 2/20 2/20 2/20 2/20 247 247 247 247 1/16 1/16 1/16 1/16 82 82 82 82 2/10 2/10 2/10 2/10 164 164 164 164 3/8 3/8 3/8 3/8 3/8 330 330 330 330 330 2/16, 2/16 2/16 2/16 2/16 190 190 190 190 190 1/19 1/19 1/19 1/19 87 87 87 87 90 Committees: (continued) Industrial Advisory: (continued) FRBank of San Francisco: Baker, liakefield, reappointment for 1948 2/18 Crandall, Shannon, reappointment for 1948 2/18 Hayes, Edmund, reappointment for 1948 2/18 Nichols, Henry D., reappointment for 1948 2/18 Starr, Valter A., reappointment for 1948 2/18 Inter-Agency Committee, Mr. Clayton to call meeting to consider changes in 1938 agreement among Federal supervisory agencies re uniform examination 5/27 procedure Interdepartmental Advisory Committee on Plans and Programs, Mr. Thomas to serve as member, advice to Mr. Hill, Chairman of National Security Re5/25 sources Board Interdepartmental Committee for Peacetime Voluntary Pay Roll Savings Plan, Mr. Bethea to act as alternate for Chairman McCabe, under Executive Order 9953, advice to Treasury Department 5/19 Interior and Insular Affairs, Mr. Eccles or Mr. Clayton to appear at hearing to reiterate views of Board re provision in H.R. 49 to require national banks in Hawaii to become members of FRSy stem 4/7 Int ernational Bank, Mr. Szymczak requested to act as deputy of Secretary Snyder on committee appointed 10/4 during meeting of Governors nt Committee on Economic Report, hearings re actions to combat inflation, Mr. Eccles to make statement re 3/9 Reserve proposals, tests to determine effects on individual banks to provide information to present at 3/18 hearings of, advice to FRBanks Statement of Chairman Eccles re inflationary situation before, on April 13, 1948 4/2 Statement of Chairman McCabe on study of reserve requirements sent to Senator Taft at request of 5/21 Dr. Hardy Messrs. Thomas, Riefler and Bopp to testify on proposal for uniform reserve requirements before 5/24 Committee on Housing, proposal of Mr. Eccles to send 2/6 • statement on housing to Mr. Gamble Letter to Chairman Gamble to be revised and sent when in form satisfactory to Messrs. Eccles and 2/19 Szymczak Letter to Chairman Gamble re housing not to be sent since 3/1 message sent by President to Congress aclint Committee on investment research of American Life Convention and Life Insurance Association of America, Mr. Riefler not to preside at meetings of advisory committee making study of savings under sponsorship of 9/14 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pages 222 222 222 222 222 874 848 804 552 1672 342 384 507 810 830 155 233 290 1500 91 Pages Nm dttees: (COntinued) Legal Subcommittee appointed by Chairman of Insurance Committee of Presidents Conference to study revision of Loss Sharing Agreement of FRBanks, Mr. Vest authorized to serve as advisory member of Legislative proposals, staff committee consisting of Messrs. Thurston, Morrill, Riefler, Thomas, Vest and Carpenter appointed to prepare alternative drafts, in consultation with Messrs. McCabe and Eccles (with Messrs. Szymczak and Draper as alternates) Membership of Board's staff, not to be designated on committees of private organizations such as American Bar Association Nati ()nal Advisory Council, appointment of committee to serve on matters re e organizations, service of staff members on, survey Out to be made and matter to be consiaered at meeting in September Service of staff members on, mentioned in connection with Question of Mr. Riefler's service on advisory committee making study of savings Report of survey re, senior staff to consider matter and submit recommendation to Personnel Committee for consideration and recommendation to Board as to policy to be followed Social Science Research Council's Committee on Social Science Personnel, membership of Mr. Southard Papproved ost Office and Civil Service, compilation of employees and offices of Board in each State, reply to ref Senator Langer e: i co t Pres idents Gong Accounting, action re simplification of accounting procedure, Board in accord with, advice to FRBanks Bank and Public Relations, to work with Messrs. Evans and Thurston on campaign to publicize nature and purposes of bank reserves Collections, report on issuance and payment of Federal Reserve exchange drafts, approved Recommendation that member banks with daily average of 300 or more cash items payable in territory of another FRBank be not required to send such items direct or to sort and list such items separately Deferred credit for country items, difference in time and in method of determining deferred availability at FRBanks, matter to be referred to for consideration of adoption of uniform practice Fiscal Agency Operations, recommendation that expenses incurred in payment of card checks be absorbed by FRBanks, approved, advice to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11/23 1970 11/17 1931 8/10 1259 5/14 774 8/24 1365 9/14 1502 10/1; 1767 10/15 1768 12/13 2114 10/5 1692 1/23 113 10/1 1662 6/2 896 12/30 2243 Co 92 Pages mmittees: (continued) Presiaents Conference: (continued) Meetings, tentative program discussed, Mr. Davis to be 3/23 advised of satisfactory time Operations: Check collection circulars, clarificati,-)n of FRBank authority to issue, recommendation approved 2/27 for acceptance of inter-district telehours Closing graphic transfers of funds, report approved 2/27 Delayed return of unpaid cash items, amendment to hegulation J, recommendation that joint report be approved adopted, amendments to be sent to FRBanks for consideration, procedure 2/27 approved at Presidents Conference Loss Sharing Agreement, amendments proposed by . Presidents Conference approved by Board, 5/21 advice to Mr. Leach Personnel, to meet to discuss retirement benefits study, assignments to be presented to Retirement 10/5 Committee of Retirement System Subcommittee on Personnel Classification and Job Evaluation, to submit report on cafeteria opera2/12 tions before Presidents Conference Subcommittee on Research and Statistics, Mr. Popp, Chairman, to talk with Mr. 1.,i1liams re proposal for uniform reserve requirements of member banks and presentation at Presi5/10 dents Conference Procedure to be followed in submitting reports and recommendations, Mr. Evans to discuss matter 10/1 with Mr. Thomas Regulation W, informal committee consisting of Messrs. Morrill, Carpenter, Leonard, Solomon, and 8/10 Brown to mPet to discuss problems National Re presentatives of agencies cooperating in study on resources and foreign aid, Mr. Frank R. 10/26 Garfield to represent Board Retirement Committee of Retirement System, meeting to be held for presentation of assignments from Presidents Conference Personnel Committee 10/5 re study of benefits Senate: Appropriations, copies of Board publications for 1948, 9/20 reply to letter requesting Banking and Currency: H. H. 2799, amendment by Housing and Home Finance Agency to, Board opposed to, advice to 5/11 Chairman Tobey 866, housing S. and .Letter to Mr. Tobey re S. 2317 4/2 legislation program, on anti-inflati Mr. McCabe to testify on statement approved, ratified, and confirmed 7/29 by Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 403 268 269 267 828 1683 170 741 1664 1261 1816 1683 1538 755 499 1177 93 Pages Committees: (continued) Senate: (continued) Banking and Currency: (continued) Report on S. 2287, to amend EFC Act, letter to Senator Tobey re statement in report concerning Federal Reserve lending authority 3/23 Resolution of FAC re housing legislation, S. 866, 5/7 sent to Chairman Tobey S. 2526, to remove limitation upon maximum deposit insured by FDIC, Board opposed to enactment, 5/4 advice to Senator Tobey S. 2564, to exempt securities issued by International Bank for Reconstruction and Development from Securities Act of 1933, Securities Exchange Act of 1934, and Section 5136 of Revised Statutes, Board in favor of enactment, advice 5/6 to Senator Tobey banks nonmember of Reserve requirements, inclusion in proposed legislation, Mr. Vest to assist 8/2 Mr. McKenna in drafting authgive Board to revised Draft of bill to be ority to increase requirements as for member banks, Mr. Vest to subinitcopyto Mr. McKenna 8/3 Authority of Board to increase, draft of bill re, 8/4 copy to be delivered to Mr. McKenna for requested Investigation Subcommittee, permission Mr. Bellino to examine personnel file of Lauchlin Currie, action to be deferred pend8/24 ing advice to absent Board members file personnel of examination Permission granted for 8/25 of Lauchlin Currie, advice to Mr. Rogers to 49 h. H. on Butler Chairman Public Lands, letter to admit Hawaii as a State, and submitting an amendment to require national banks to 1/27 become members of HiSystem &pcial Social on Committee Council's Research Science Science Personnel, membership of Mr. 10/15 Southard approved SYstem Research Advisory Committee, procedure to be followed in submitting reports and recommendations, Mr. Evans to discuss matter with Mr. Thais lu/1 Economic basis of Federal Reserve policy, preparation of report re, to assist committee if neces10/12 sary 8Ystem Research Committee on Banking and Credit Policy, proposal for uniform reserve requirements for all member banks, special meeting to 5/7 discussion of memorandum 1-Y Credit Corporation: Dis count of notes of producers under, amendment to Regulation A proposed, comments of FRBank of Kansas City 10/26 and other FRBanks requested http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 424 739 702 712 1200 1216 1221 1374 1377 121 1768 1664 1741 723 1817 94 Pages C°111nu)ditY Credit Corporation: (continued) Discount of notes of producers: (continued) Amendment proposed re discount of notes of producers under program, considered unnecessary at 11/10 present, advice to FhBank of Kansas City Loans and interest rates, policy re, discussion at Presidents Conference of possible change in rates, procedure for taking matter up with Treasury 10/5 approved in connection banks Question of increasing rates for with crop loans, discussion of Mr. Evans with Mr. Bartelt, no further action to be taken by Board at present, Mr. Evans to report developments at next meeting of Presidents Conference 11/5 Comments of Mr. Evans re modification, arrangement for making CCC notes eligible for discount by FRBanks 12/1 to be worked out with (341munity Chests: Co ntribution by FRBanks, discussion at Conference with 12/1 Presidents C°1/13troller of the Currency: Bank holding company legislation, meeting to discuss, Mr. 7/6 McCabe to advise of did Board that Council Statement to Federal Advisory 9/21 not have support of Bank Of America:Authority to establish additional de novo branches, letter 8/17 to be prepared by Mr. Clayton opposing 8/19 Press statement re establishment of branches by APplication to establish branches at Bremen, Frankfurt-amMain, and Hamburg, Germany, conference of Messrs. Clayton and Townsend with, comments re authorization in light of capital position 8/31 and policies of bank to be requested Application for establishment of branches at Bremen, Frankfurt-am-Main, and Hamburg, Germany, comments re capital structure of bank, loan and 9/3 dividend policies, etc., requested from APPlication to establish branches in Germany, reply fur11/16 nishing information on bank APplication to establish branch in Bangkok, Siam, letter 11/16 on proposed branch to be prepared APPlication to establish branch at Bangkok, Siam, advice 11/30 concerning reasons for rejection requested 1 requirements for establishment of branches by .1--CaPit` national banks, change opposed, action by 1/30 Board to be deferred it expansion, ABA program for voluntary restraint, to 1/9 participate in meetings 44nlinatlon procedure, 1938 agreement, not followed at present by, discussion to be continued by Mr. Clayton at meeting with Messrs. Delano and Harl 2/13 Uniform, Mr. Delano invited to luncheon by Mr. Clayton to discuss 7/ 6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1887 1697 1855 2018 2016 1086 1589 1320 1325 1408 1438 1922 1924 1997 132 46 181 1086 95 Pages Comptroller of the Currency: (continued) Examination reports, Mr. Leonard to advise of Board's view in connection with request that they be made 2/6 available to RFC Puerto Rico, division of banking laws, discussions with Dr. 5/27 Di Venuti to be continued in cooperation with /17 8 Regulation WI new, to cooperate with Board in enforcement of Enforcement) cooperation requested re, copy of Outline 9/16 of Enforcement Program sent to Mr. Delano Transamerica Corporation, material requested by Senator Tobey, Board not to discuss nature of reply 3/24 with Antitrust proceeding against, letter of advice of action 5/26 to be sent to 5/27 to advice Institution of antitrust proceeding against, and complaint Antitrust proceeding against, issuance of notice of hearing, cooperation indicated by, 6/23 copy to be sent to with Szymczak Mr. Expansion, discussion of matter by Mr. Delano, letter to be prepared stating views re authorization for further branches 8/19 of national banks in group prepared be to re letters agreement, Expansion and 1942 8/20 for of establishment to opposed Expansion policy, Board domestic branches, in view of complaint issued 8/23 against, advice to 1942 agreement re expansion policy still in effect, 8/23 advice to with, Townsend and Clayton Messrs. Expansion, conference of discussion of approval of further branches, statements of Messrs. Clayton and Townsend re, cooperation of Comptroller to be expected in 8/24 Clayton Act proceeding against, proceeding Act Clayton ExPansion policy and 8/31 reply to letters from Board re with, held be to against proceeding discuss Conference to Messrs. Robertson, Upham, Folger, and Wright 9/10 to be included Upham Messrs. against, proceeding antitrust re Conference 9/20 and Anderson present Proceeding against, no reply to be made to letters from 9/20 Mr. Delano 10/1 Mr. Delano opposed to public hearing Conference with Mr. Delano to be arranged to ascertain 11/16 -onextent of assistance in case e°11diti Of banks: Information requested by large depositors, matter to be discussed at FAC meeting, Mr. Clayton to study 2/6 matter further and submit recommendation Matter to be placed on agenda for Presidents Conference and issuance of joint statement re to be con2/16 sidered http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 153 874 1291 1517 438 855 864 992 1330 1345 1360 1361 1366 1402 1480 1533 1536 1648 1924 154 189 96 Pages Con.dition of banks: (continued) Information requested by large depositors: (continued) Discussion at FAC meeting, question of making information part of condition reports to be placed on agenda for consideration at next meeting 2/17 of FAC Discussion of supplementary form, at Presidents Conference, FRBank to be advised of request made to Board, matter of written requests to be dis2/27 cussed with other bank supervisory agencies Condition reports: Bankers Company of New York, N. Y., call as of December 31, 1/9 1947 7/1 Call as of June 30 Call as of June 30, information for current needs requested re schedule B, U.S. Government obligations; 7/26 advice to FRBanks Central Trust Company, Cincinnati, Ohio, method of reporting certain reserves, advice to FRBank of 10/15 Cleveland 1/9 31, 1947 December Chase' Bank, New York, N. Y., call as of 7/1 Call as of June 30 Conneetieut State member banks, no objection to publication 5/14 in accordance with proposed form First - of Boston International Corporation, Boston, Mass., 1/9 . call as of December 31, 1947 7/1 Call as of June 30 Acknowledgment of report with notation on wrong percent7/28 age for computing reserves 1/9 F°reign banking corporations, call as of December 31, 1947 , Call as of June 30, 1948 7/1 .r.reneh American Banking Corporation, New York, N.Y., call as 1/9 of December 31, 1947 Hannibal of affiliate Association, Mutual Loan and Building Farmers and Merchants Bank and Trust Company, Hannibal, No., submission and publication of report not required for past call dates but due 2/5 for next call if affiliation still exists Inf at FAC discussion depositors, ormation requested by large meeting, question of making information part of condition reports to be placed on agenda for con2/17 sideration at next meeting of FAC ConferPresidents at form, Discussion of supplementary ence, FRBank to be advised of request made to Board, matter of written requests to be dis2/27 cussed with other bank supervisory agencies International Banking Corporation, New York, N. Y., call as 1/9 of December 31, 1947 7/1 14_ Call as of June 30 'Taber bank earnings for 1947, release of figures and of 2/16 press statement approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 213 282 48 1066 1165 1771 48 1066 786 48 1066 1174 48 1066 48 149 213 282 48 1066 191 97 Pages Condition reports: (continued) Michigan, question of joint publication of State member banks in, no objection to acceptance of current condition reports re reserves for had debts, future reports to be prepared in accordance with Board's 7/9 instructions Morgan & Cie. Incorporated, New York, N. Y., call as of Decem1/9 ber 31, 1947 Call as of June 30 7/1 1/2 National banks, call as of December 31, 1947 Call as of April 12, 1948 4/14 6/30 Call as of June 30 Schedule A,loans re FRBanks from requested Information 7/9 and discounts Fall call not to be made 9/9 Call as of December 31 12/31 Neq York and Chicago weekly reporting member banks, changes 6/22 in wording on press statement Reserves for bad debts on loans, revised forms approved for, 5/13 advice to FRBanks Security Trust and Savings Bank of San Diego, Calif., escrow 4/21 funds to be classified as deposits on State 1/2 member banks, call as of December 311 1947 To be available to FDIC for confidential use of ABA in compilation of agricultural loans and farm 1/21 real estate loans Forms and instructions to be sent to FRBanks for next 2/20 call date Call as of April 12, 1948 4/14 Reserve for bad debts to be deducted from loans and capital accounts, changes in reporting on Form 105 4/13 approved Call as of June 30 6/30 Forms and instructions to be sent to FRBanks for next 6/8 call date, advice to FRBanks Call as of June 301 1948, information requested from 7/9 FRBanks re Schedule A, Loans and discounts Fall call not to be made, advice to FRBanks 9/9 Forms and instructions to be sent to FRBanks for next 11/8 call date addibut Michigan, joint publication, no objection, 11/19 tion to be made to State form if used Call as of December 311 1948 T 12/31 elsgraphic notice to FRBanks as to call dates, to be sent day or two in advance of day call is announced, definition of code word "Ipjevn revised, 5/13 advice to FRBanks lieekl,y member bank reports, instructions re loans and reserves 6/22 sent to FRBanks Veek4 and 416 instructions report form, copy of revised FR 6/11 sent to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1102 48 1066 1 576 1063 1103 1471 2265 990 763 617 1 97 250 576 575 1063 922 1103 1471 1870 1947 2265 762 990 944 98 Pages C°11ferences: Accounting, to be held in Washington September 13, advice 8/11 to FRBanks Advisory Committee of Savings Bond Division of Treasury, dinner for Chairmen at a Washington hotel 10/13 approved held on be to conference American Bankers Association trust 1/12 February 9, 10, and 11, advice to FRBanks Association of Reserve City Bankers with staff members of Board, report of Committee on Correspondent Bank Relations re, letter to Mr. Sproul correcting impressions concerning discussion of 5/6 check collection procedures and other subjects Bank holding company legislation, meeting to be held in September and discussion of those to be invited 7/6 Bank4-Lng holding company, discussion at FAC meeting of serfes 9/21 Banks in Ninth FRDistrict, expenditure by FRBank of Minneapo12/6 lis for annual meeting auestioned Bog°tal question of Board representation discussed in connection with "Ir. Sproul's invitation to accompany Secretary Snyder, drafts of letter re future procedure to be prepared under direc4/7 tion of Mr. Szymczak Question of Board representation on United States Delegation, letters to Secretaries of State and 4/9 Treasury Central Banks of American Continent at Santiago, Chile, participation by FRBank of New York, another FRBank and Board, matter to be reviewed by 4/2 Staff Group on Foreign Interests Chairmen: Balderston Report, revision to be undertaken by committee, Mr. Evans as senior member of Personnel 1/9 Committee to work with Budgets of FRBanks, to appoint committee to develop standards for research and statistics, bank and public relations, and provision of per12/6 sonnel Current matters of interest to System, Mr. Evans desig1/9 nated to act as Liaison with Chairmen Dinner for meeting to be held on December 9-10, 1948, payment approved and budget of Division of Administrative Services to be increased to cover12/3 Executive 1/16 committee, meeting on January 12, 1948 directors to be Statement of responsibilities of 4/23 sent to for comments and recommendations Meetings, time and place for next meeting outside of Washington to be determined by Mr. Szymczak, in collaboration with Chairman Eccles and 1/9 in consultation with executive committee Next to be held at White Sulphur Springs, West 1/16 Virginia, on May 29, 30, and 31, 1948 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1267 1757 57 714 1084 1588 2051 553 566 529 41 2050 43 2035 75 628 42 75 99 Pages conferences: (continued) Chairmen: (continued) Meetings, time and place for next meeting: (continued) Outside of Washington, Mr. Vardaman opposed to, 4/14 discussion of future plans but no action disagenda Virginia, West White Sulphur Springs, 5/7 cussed, no suggestions to be made by Board Messrs. CarVirginia, West White Sulphur Springs, penter, Morrill, Thurston, Smead, Bethea, Thomas, Vest, Leonard, and Nelson, and Mr. Young, Associate Director of Division of Research and Statistics, to be requested to 5/7 attend 5/25 approved expenses of payment Agenda for, , Chair of views 1948, 6, December Tentative date of 10/8 men to be requested Salaries of Board of Governors and staff, increase to be recommended by committee to Congress, through FAC, Board not in favor of, executive 1/9 committee to be advised Topics for discussion: Statement of responsibilities of directors, to be 2/19 discussed if desired FRBank Budget Procedures, discussion in light of 5/14 studies Responsibilities of FRBank Directors, revised state4/23 ment Committee of Directors on Welfare of Staff of FEBank of New York, meeting with Board to discuss salary policy to be held on May 14, proposals to be 5/7 at subsequent Board meeting considered Con Sumer credit statistics, reply- to letter from Mr. Beckman, Ohio State University, re formation and suggested meeting with Board representatives, Mr. Bonnar 7/6 Brown to work with Meeting of Committee with Board representatives, reply to letter from Mr. Beckman, Ohio State University, 7/30 re plans for . Exam 'nation and supervisory policies, conference of Vice Presidents of Examination Departments to be held February 12-13 to consider, advice to 1/21 FRBanks %-t1.1 Agency, to be held at Swampscott, Mass., Messrs. Vardaman, Smead, Myrick, and Smith to attend, 4/1 advice to Mr. Bartelt Hold4 4.1ag compary groups, at Board to discuss proposed legis9/10 lation, statements re Inter State from Departletter national during 1950, reply to 7/23 „pa ment ,Aate College, grant for conference on monetary and fiscal aspects of inflation problem approved, budget of Division of Research and Statistics to be increased to cover http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 577 719 720 839 1724 41 226 775 628 725 1090 1186 96 495 1483 1162 629 Con ferences: (continued) Mid-west agricultural economists at Iowa State College, Professor Murray to be invited to Washington for discussion of, expenses of trip to be paid by Board 4/7 Presidents: Absorption of exchange charges, topic withdrawn from agenda by Mr. McLarin because of lateness of hour 2/27 Bank examination procedure, uniform agreement as to, discussion of revision of agreement of 1938, modifications to be made only after consideration and agreement by three agencies concerned 10/5 Banking schools, expenses of attendance, payment of dormitory and dining hall charges approved . 5/21 Cafeteria operations of FRBanks, Subcommittee on Personnel Classification and Job Evaluation to submit report before next meeting 2/12 Absorption of expenses, to be continued, study of efficiency of operation to be continued under present budget procedure 5/21 Capital accounts, increase in FRBank, discussion at meeting with Board, contingent reserves to be enlarged, matter to be discussed further by Board 10/5 Increase, discussion of, arrangement for transferring funds to reserves for contingencies to be continued throuelsecond quarter of next year 12/1 Capital requirements for admission of State bynks to membership, discussion of proposed minimum of 450,000, legislation not to be presented to Congress at present session, draft of amendment to law to be prepared and to be sent to FRBanks for consideration 2/27 Legislation to modify, suggestions of Presidents to be considered in preparation of bill to be submitted to Congress 5/21 _ Discussion of need for change 12/1 Cash items, member banks with daily average of 300 or more payable in territory of another FRBank, requirement for routing direct or sorting and listing separately, recommendation of Committee on Operations that it not be effectuated, matter to be studied further by Board 10/5 Action on recommendation 11/23 Letter to FRBanks to make survey 12/9 Cement Company case, study of effects of Supreme Court decision in, discussion of making by FEBank of Atlanta or any other FRBank, decision to be deferred until recommendation of Committee on Current Business Developments 10/5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 100 Pages 546 288 1694 816 170 815 1698 2020 281 817 2012 1674 1960 2097 1701 Con ferences: (continued) Presidents: (continued) Check collection circulars, clarification of FRBank authority to issue, recommendation of Com2/27 mittee on Operations approved Classification of assistant examiners under Fair Labor Standards Act, question of presentation of matter to Wages and Hours Division, discus2/27 sion Collection of cash items, changes in uniform paragraphs of check collection circulars required by amend12/1 ments to Regulation 3, approved Commercial code, procedure for review of matter to be 6/11 taken up with Mr. Davis by Mr. Vest Commodity Credit Corporation policy re loans and inteFest rates, discussion of possible change in rates, procedure for taking matter up with Treasury 10/5 approved Comments of Mr. Evans re modification, arrangement for making CCC notes eligible for discount by 12/1 FRBanks to be worked out with CCC Condition of banks, information furnished to large depositors, discussion of supplementary form for condition report, FRBank to be advised of request made to Board, matter of written requests to be discussed with other banks super2/27 visory agencies Conditions of membership, revision, program agreed upon, Regulation H to be revised, and review to be made of conditions applicable to present State 5/21 member banks Contributions by Reserve Banks to Community Chest funds, 12/1 discussion of, but Board not in favor of Custody receipts for collateral securing loans to member banks, discussion of policy for all FRBanks and arrangement for deposit of securities at FRBank of New York, matter to be reviewed by Board and proposed policy statement to be submitted to 2/27 FRBanks upon, Policy re acceptance, proposed procedure agreed each FRBank to adopt own method of advising 5/21 member banks Deferred availability for cash items payable in other FRBank and branch cities, policies re, time schedules to be clarified by definitive statement, discussion of competition between member and nonmember banks and disadvantages of, 10/5 matter to be studied further Deferred credit for country items drawn on par remitting banks located in States included in more than one Federal Reserve district, recommendation of Committee on Operations that no change in policy of FRBank of Chicago be made, no objection to 10/5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 101 Pages 268 285 2011 937 1697 2018 282 818 2016 270 811 1677 1674 102 Pages Conferences: (continued) Presidents: (continued) Delayed return of unpaid cash items, amendment to Regulation J, recommendation of Committee on Operations that joint report be approved adopted, amendments to be sent to FRBanks 2/27 for consideration Dinner at Burning Tree Club, May 19, 1948, payment of 6/10 cost approved objection by no senior, for Economists, officer status 10/5 Presidents, Board to consider matter further Electric power, emergency facilities at FRBanks and Branches, uniform treatment of matter considered 10/5 impossible FRAct, section 13b, bill to amend, discussion in connec12/1 tion with legislative program Fiscal agency expenses, procedure for acting on requests 11/8 for FRBanks to absorb Fiscal agency operations, reimbursement of FRBanks for, procedure to be followed by FRBank requested to absorb reimbursable fiscal agency expenses 10/5 approved Leased wire system, closing hours for acceptance of inter-district tell:graphic transfers of funds, report of Committee on Operations to clarify authority of FRBanks to accept requests for transfers later than the official closing hour 2/27 approved Legislation to authorize national bank to convert into, or consolidate with, a State bank, question to 12/1 be submitted to FRBanks, discussion Legislative program to be recommended to President, digest of comments from Presidents to be sent 12/1 to all Presidents, discussion of Draft of letter to Budget Bureau, discussion, no 12/1 objections to List of topics submitted by Presidents, considered by Board, Mr. Eccles to state Board's views at 2/27 joint meeting Loans to employees, discussion of loan funds and credit unions, present arrangements to be continued, . Board to establish basis for approval of loan 2/27 funds Meet. 2/27 with Board ing with Board 5/21 1,eeting with Board 10/5 Meetings, next to be held on November 29 - December 1, 10/5 1948 Next to be held on November 29-30 and December 1, 10/8 1948 267 931 1687 1701 2016 1869 1687 269 2015 2012 2015 260 279 Meeil http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis lE 1702 1724 Conferences: (continued) Presidents: (continued) Meetings of conference and committees, program to provide for presentation of topics for Board consideration in time for discussion prior to joint meeting, Mr. Davis to be advised 3P3 Meeting with Board 12/1 Members: 2/27 Davis, Chester C., elected Chairman 2/27 Peyton, John N., elected Vice Chairman Memorandum of topics submitted considered by Board, 5/20 responses to be made at joint meeting 10/4 Responses to be made at joint meeting 11/30 Responses to be made at joint meeting , Military service, policy re employees entering, benefits and treatment approved, payment of one month's unearned salary to be made 10/5 at time deemed best by FRBank Payments to Treasury as interest on FRnotes, sentiment favoring increase in amount withheld 11/23 by FRBanks Personnel classification plans, exceeding maximum of salary ranges under, cases to be referred to Board and to be considered on individual basis 5/21 at present Rates, discount, schedule for fixing, bill to require monthly instead of every 14 days, discussion 12/1 Regulation J, amendments to authorize procedure for conditional payment of checks and return of unpaid items on next succeeding business day 3/12 Regulation W, administration of, FRBanks to assist in 10/5 administration and enforcement Administration and enforcement, statements of 12/1 Presidents Reserve requirements, statement on study sent by Chairman McCabe to Joint Committee on 5/21 Economic Report Effect of increase on membership in FRSystem, 10/5 discussion of Increases in, discussion of applicability to 12/1 nonmember banks in future Effects on member banks of increases in, opposition to further increase and question of support of Government security market dis12/1 cussed Reserves for amortization of premiums on Government 3/15 securities, procedure for Reserves, campaign to publicize nature and purposes of bank, reasons for subjecting nonmember banks to System reserve requirements, Presidents Conference Committee on Bank and Public Relations to work with Messrs. Evans and Thurston on matter and to be discussed further at next meet10/5 ing with Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10'; Pages 403 2010 288 288 806 1671 1995 1686 1965 816 2015 361 1699 2024 810 1693 2012 2024 369 1688 Conferences: (continued) Presidents: (continued) Retention in service after age 65, discussion of new plan for retirement status, each case to be considered on individual merits and no change to be made in existing policy Retirement of premiums on Government securities, provision to be made before payment to Treasury for first quarter of 1948, matter to be discussed with Treasury Retirement system benefits, study of, report of Committee on Personnel received, procedure re, interim reports to be made to Chairman of Chairmen's Committee Retirement System investment policy, changes, study of Special Committee not completed, decision to be postponed until next joint meeting Discussion of legal opinion received from FRBank of Boston re responsibility of Trustees, question to be referred to Mr. Vest for comment Safekeeping of Treasury bills sold by member bank to member bank of another FRdistrict under repurchase agreement, no objection for FRBank of district in which selling member bank is located Savings bond campaign, payment by FRBanks of cost of dinners in connection with, cost of one dinner in each district to be borne Special reserve against depreciation in Government securities portfolios, discussion of plan for changing arrangement for payment of 90 per cent of net earnings to Treasury, matter to be considered further Staff: 104 Pages 2/27 278 2/27 287 10/5 5/21 822 10/5 1683 10/5 1682 12/1 2022 5/21 Young, Charles G., Secretary designate, present 5/21 at meeting with Board Telegraphic transfer of funds, amendment to regulations approved as recommended 3/9 Topics for discussion to be accompanied by memorandum covering background, suggested by Mr. Sproul 2/27 Topics for discussion: Cash items, member banks with daily average of 300 or more payable in territory of another FRBank or Branch, recommendation of Committee on Collections that direct sendings and sorting and listing separately not be required, if approved by Presidents, Board to discuss 10/1 matter further before decision Cement industry case, study re effects on South of order against use of basing point pricing 9/29 system http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1683 819 809 344 278 1662 1630 105 Pages Conferences: (continued) Presidents: (continued) Topics for discussion: (continued) Commodity Credit Corporation loans, question of increasing interest rates for banks, reports to be made by Mr. Evans at next 11/5 meeting by d large requeste tion Condition of banks, informa depositors, matter to be placed on agenda and issuance of joint statement re to be 2/16 considered favored program n, revisio hip, Conditions of members 4/23 by Board 11/23 ng enlargi for need s, Contingent reserve Custody receipts of city correspondent banks, acceptance by FRBanks as collateral for 1/29 loans to s advance for ral collate as s Custody receipt member banks, policy re acceptance, Messrs. Vardaman and Clayton to discuss matter with Presidents before action taken by Conference, 5/7 advice to Mr. Davis 9/10 IRBanks at ies facilit cy emergen Electric power, Emergency facilities at FRBanks and branches 9/15 letter to Mr. Davis suggesting topic with ion connect in ed consider s, Examiners' salarie budgets, FRBanks to be advised of plac12/6 ing topic on agenda FRBank employees' loan funds, organization of credit 2/10 unions suggested instead of policy for, sement reimbur s, expense agency Fiscal 6/25 to be discussed Memorandum of topics submitted by Presidents for Board consideration, to be presented in time prior to joint meeting, Mr. Davis 3/23 to be advised Board, by Memorandum of topics submitted considered 5/20 responses to be made at joint meeting s to Memorandum of topics submitted, response 11/30 be made at joint meeting staff, g Officers of branches or senior examinin discussion of changes with Board before 8/24 action to letter Discussion of changes with Board, Mr. Davis re not to be sent, further action 8/31 to be deferred ies, securit nt Reserve for premiums on Governme procedure to provide for rapid amortization 3/24 of premiums on securities http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1855 189 631 1964 128 726 1479 1511 2054 167 1051 403 806 1995 1365 1406 442 Conferences: (continued) Presidents: (continued) Topics for discussion: (continued) Reserve requirements of member banks, uniform, proposal of System Research Committee on Banking and Credit Policy for, Mr. Bopp to talk with Mr. Williams re presentation of plan, Messrs. Thomas and Young to attend 5/10 if desired Effect of increase on membership in FRSy stem, 9/16 letter to Mr. Davis Reserves, campaign to publicize nature and purposes of bank, to be discussed further at next 10/5 meeting with Board be ' to made Reserves for contingencies, addition rather than to change existing 90% arrange6/25 ment with Treasury with arrangement 90% to, made Addition to be Treasury to be continued for present, pro7/1 cedure to be discussed in only made be to retentions Retirement system, exceptional cases, retirement status after 90 days and compensation not to be more than salary less retirement benefits, comments of FRBanks requested and matter to be discussed 1/6 at next be to changes procedure, and Investment policy discussed at meeting of Board of Trustees and then to be considered by Presidents and 3/10 Board matter be to procedure, and policy Investment 10/1 discussed with Presidents on October 5 Safekeeping by FRBank of Cleveland of Treasury bills for Bankers Trust Company, New lork, re8/31 quest of Cleveland Trust Company 9/21 Request of Cleveland Trust Company Statement of responsibilities of directors of FRBanks, reply to Mr. Calkins not to be 2/13 sent until after discussion To be discussed later at Chairmen's Confer2/19 ence, if brought up Titles of economists, recommendation of FFBank of Chicago that positions have official 9/14 status Re gulation Iv:, new, to be discussed in future with representatives of Farm Credit Administration 8/14 at Board Letter to FRBanks on holding of 9/3 To be held on October 7 and 8, advice to FRBanks 9/17 Agenda, advice re and suggestions requested from 9/23 FRBanks Agenda for, copies sent to FRBanks 10/1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 106 Pages 741 1524 1688 1035 1072 25 348 1660 1405 1560 182 226 1498 1292 WO 1526 1607 1668 107 Pages Conferences: (continued) Special Libraries Association, to be held in Washington, reception for Financial Group and dinner for Federal Reserve librarians approved, budget of Division of Research and Statistics to be increased to cover SYstem accounting conference, to be held in Washington Tr ansamerica Corporation, antitrust proceeding against, arrangements for conference with representatives of Offices of the Comptroller of the Currency, FDIC, and Attorney General to be made to discuss material Antitrust proceeding against, report of Mr. Clayton re discussions with representatives of Comptroller of the Currency, FDIC, and Department of Justice To be arranged with Mr. Delano to ascertain extent of assistance in Trust examiners', to be held at FRBank of New York in February To be held in New York on February 5, 6, and 7, advice to FRBanks Vice Presidents in charge of Examination Departments, issuance of joint statement on examination policy to be discussed in connection with adequacy of capital funds, review of agenda by Mr. Clayton Joint Statement in 1938 re examination procedure, discussion of possible revision C°1111soticut: 5/7 6/9 9/10 1480 9/20 1533 11/16 1924 1/8 31 1/12 57 2/6 157 2/13 181 Condition reports of State member banks, no objection to publication in accordance with proposed 5/14 form Conn-- . v'tlout Bankers Association, to be invited for luncheon 2/4 on February 19 °411so 1.14:act General Life Insurance Company: of Minneapolis, Hospitalization insurance for 3/22 employees to be provided from C"solidated Construction Company of Brookline, Mass., Regulation W I reply to letter re inclusion of 9/21 repair and modernization credits e°48°.3:ions: idat A.muier ice,n State Bank, Great Bend, Kansas, no objection to purchase of assets and assumption of deposit liabilities of Heizer State Bank, Heizer, 3/5 Kansas Amer icun Trust Company, San Francisco, California, establishment of branch in Fairfield, Calif., approved in connection with purchase of assets and assumption of liabilities of 7/12 Solano County Bank http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 721 928 786 145 398 1560 323 1107 108 Pages Consolidations: (Continued) Bank of Port Jefferson, New York, establishment of branch in Port Jefferson Station, N. Y., approved in connection with absorption of First National Bank of Port Jefferson, N. Y. 4/30 Commerce Union Bank, Nashville, Tenn., establishment of branch in Donelson, Tenn., approved in connection with proposed absorption of Bank of Donelson, Tenn., further expansion not to be approved unless bank's capital increased 5/6 Commercial Bank of Utah, Spanish Fork, Utah, establishment of branches in Delta, Heber City, Nephi and Payson, Utah, approved upon consolidation of Commercial Banks of Delta, Heber City, Nephi and Payson with Commercial Bank of Spanish 6/23 Fork Commercial Trust Company of New Jersey, Jersey City, N.J., establishment of three branches at Bayonne, N.J., in connection with absorption of Bayonne Trust Company, Bayonne, N.J., ap8/2 proved C°ntinental State Bank, Boise, Idaho, establishment of branch in New Plymouth, Idaho, approved in connection with absorption of New Plymouth 7/6 State Bank Deposit Guaranty Bank & Trust Company, Jackson, Miss., establishment of branch in Clinton, Miss., approved in connection with proposed absorption of Bank of Clinton, Miss. 9/1 Dollar Savings and Trust Company, Youngstown, Obi°, establishment of branch in Hubbard, Ohio, approved in connection with absorption of Hubbard Bank2/14 ing Company1 valley Bank, Charleston, West Virginia, no objection to continuation of trust powers acquired as result of merger with Central Trust Com11/15 pany Libe„.4. 4-1-T Trust Company, Cumberland, Maryland, application for membership approved, subject to increase in capital stock and merger with Peoples Bank of Cumberland, Maryland 12/24 Line_, 1-Lti Trust Company, Rochester, New York, establishment of two branches in Corning, New York, approved in connection with absorp1/9 tion of Corning Trust Company Es tablishment of branch in Canadaigual New York, in connection with proposed absorption of 3/2 Ontario County Trust Company, approved Manufacturers and Traders Trust Company, Buffalo, New York, establishment of branch in Ebenezer, New York, approved in connection with proposed 5/25 absorption of Ebenezer State Bank http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 693 711 1018 1201 1088 1420 2121 1903 2199 51 293 846 109 Pages Consolidations: (continued) Naticnal banks with or conversion into State banks, legislation to permit, letter to ABA re form of 3/18 bill National banks with State banks, no objection to S.2842 to authorize, advice to Chairman Tobey of 6/14 Senate Banking and Currency Committee S.6570 to permit national banks to convert into or consolidate with State banks, amendment proposed to, opposed by Comptroller of the Currency and FDIC, Board not to submit re6/11 port Discussion of bills H.R. 6570 and S.2842 to authorize 12/3 New Plymouth State Bank, New Plymouth, Idaho, absorption and establishment of branch at New Plymouth by Continental State Bank, Boise, Idaho, to take place after approval of application for 3/8 membership in FRSystem Pe nnsylvania Company for Banking and Trusts, Philadelphia, Pa., proposed absorption of Security Bank and Trust Co., review of examination report 10/28 in connection with Provident Trust Company of Philadelphia, Penna., purchase of assets and assumption of commercial department liabilities of Northern Trust 7/2 Company, Philadelphia State Bank of Albany, New York, establishment of branch in Watervliet, New York, approved in connection with absorption of National Bank 3/16 of Watervliet SYracuse Trust Company, Syracuse, New York, establishment of branch in Tully, New York, in connection with proposed absorption of First 5/21 National Bank of Tully approved United States Trust Company of Newark, N. J., granted permission to purchase assets of Columbus Trust Company and to operate three offices 7/21 in Newark as branches C°nS11,„ "er credit: 8/13 iZt of stbject to duties of Mr. Evans 1s ;ta of directors of Board to regulate, views of 7/23 research at FRBanks Not advocated as single piece of legislation, Mr. Evans to testify before House Banking and 8/2 Currency Committee m cominittee on Mr. from Beckman, letter statistics, reply to Ohio State University, re formation and suggested meeting with Board representatives, 7/6 Mr. Donnar Brown to work with 2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 384 950 29 034 331 1831 1077 371 827 1142 1275 1152 1199 1090 110 Pages Consumer credit: (continued) Conservative policies to be followed by retailers, FRBanks not to make additional request for, FAC suggestion not to be followed Controls, statement of Mr. McCabe before Senate Banking and Currency Committee approved, ratified and confirmed Floor furnaces and other home improvement articles, reply to Mr. Martin on easy credit terms L egislation to restore controls, FAC opposed to, IRBanks to be requested to urge retail stores to adopt more conservative terms Emergency legislation, inclusion desired in draft by' National Security Resources Board, informal statement to be made to Mr. Kendall Draft of legislation to be submitted to National Security Resources Board and Counsel to collaborate with in working out desirable changes Mr. Thomas to attend meeting at White House and to make statement re continuance of Board authority to regulate Draft of statement to be prepared for use in testimony, Board in favor of continuation of authority for two years To be discussed by Mr. Evans before House Banking and Currency Committee, discussion of power without legislation re bank reserves T_ P°ssible inclusion in omnibus bill discussed 1.,egislative proposals, request of Council of Economic Advisers for drafts, matter to be discussed further Regulation of, statement in letter to President re State of Union messge Regul ation issuance of new, telegram to FRBanks requesting recommendations Discussion at FAC meeting, regulations well received, but permanent authority not favored by FAC Reinstatement of controls, discussion of request of Mr. Monroney for statement by Board re legislation, not to be issued until after passage of bill Res idential buildings, reply to Mr. Ralph H. Taylor re gulations requiring down payments Restor ration of, reFAC opposed to, but more conservative terms State_ st_went to be published in FRBulletin c"istics, meeting of Committee of Ohio State University with Board representatives, reply to letter from Mr. Beckman re plans for http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/19 225 7/29 1177 1/27 124 2/17 214 4/14 580 5/10 751 7/23 1154 7/27 1167 7/30 12/23 1180 2191 12/21 2170 12/1 2006 8/9 1250 9/21 1582 8/5 1228 2/12 172 2/17 8/26 214 1391 7/30 1186 111 Pages C°11s1 rner finances, Third National Survey to be made by 5/6 University of Michigan Survey to be made by University of Michigan authorized 7/12 Fourth national survey, letter to University of Michigan 10/6 on insertion of sentence in proposal 1948 Survey, data to be provided for Council of Fconomic 10/14 Advisers, advice to Mr. Nourse Consumer goods, increase in expenditures for, statement at 11/16 meeting of FAC with Board Continental Home Improvement Company, Baltimore, Md., Regulation W, reply to letter from Mr. Klarner re proposed amendments on modernization loans, 10/1 Cont ributions: C hildren's Crusade, reply to request of Attorney General 6/11 Clark that employees be solicited for C hildren's Hospital Building Fund, reply to Mrs. Clarence A. Aspinwall re request that employees be 6/11 solicited FPBanks for Community Chest funds, discussion at Presi12/1 dents Conference, Board not in favor of National Symphony Sustaining Fund Campaign, reply to Symp Mr. Reyner re request for solicitation of 1/27 employees Police Boy's Club, reply to request of Mr. Simmons that 1/13 employees be solicited for Salvnf. lOfl Army, pledge cards to be forwarded to Mr. Johnson, advice to Postmaster General Donaldson, no general solicitation of employees to be 5/11 made • So lioltations of funds, Secretary's Office authorized to 6/11 CO v ,r1,- rsions: make replies to letters re Anlerioan National Bank and Trust Company of Chattanooga, Tenn., application for fiduciary powers approved upon conversion from American Trust 8/27 and Banking Company, Chattanooga, Tenn. GIllf National Bank at Lake Charles, Louisiana, application for fiduciary powers approved upon conversion of Lake Charles Bank and Trust Company into 12/22 National banks into or consolidation with State banks, legislation to permit, letter to ABA re form of 3/18 bill 570, to permit national banks to convert into or consolidate with State banks, amendment proposed to, opposed by Comptroller of the Cur6/11 rency and FDIC, Board not to submit report No objection to S.2842 to authorize, advice to Chairman Tobey of Senate Banking and Currency 6/14 Committee Question of bill to be submitted to FEBanks, discus12/1 sion at Presidents conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 718 1107 1712 1758 1909 1669 946 946 2016 124 62 756 946 1394 2181 384 934 950 2015 112 Pages Conversions: (continued) National banks into or consolidation with State banks: (continued) Opposition of Board to proposed legislation, letter to ABA approved, procedure for advising Comptroller of the Currency and FDIC to be 12/21 determined by Mr. Clayton by Mr. discussed Clayton Board Legislation re, views of with FDIC Chairman harl, matter to be discussed with Mr. Rapport before sending letter 12/23 Corporateto ABA profits, discussion of Board's statement at FAC 9/21 eting Cor__ o prate securitiems7 M°°tr t s, Fitch, National Quotation Bureau and Standard & Poor's Board to absorb one-half cost of 10/19 computing figures on Group 2 Correspondence: Mis cellaneous, procedure for handling through Secretary's Office, discussion of, matter referred to 9/21 staff for consideration and recommendation Thompson a Donald S., authorized to sign as "Acting Associate Director" of Division of Research and Statis5/27 tics eounm4, ' 11-1-7,of Economic Advisers: lsorY group to coordinate domestic policies of Government lending agencies, Messrs. Young and Solomon to prepare draft of letter to outline means 12/21 Cons_ umer credit legislation, report of Mr. Thomas of conver7/23 sation with Mr. Clark re bills introduced Request that draft of bill be submitted by Dec. 23 12/22 ' - 6a from 1948 Survey of Consumer Finances to be provided 10/14 for, advice to Mr. Nourse G°vernment lending agencies, creation of council to coordinate domestic policies desired by, Messrs. Young and Solomon to report on discussions at 12/21 informal conference re Legislation covering Board proposals for authority re reserve requirements ana consumer credit, request for, matter to be discussed further 12/21 McCabe, Thomas B., request by Mr. Nourse to attend meetings to discuss long-range problems, in connection with economic problems of Govern11/23 ment meej .eft meeting of Board to attend meeting with Dr.Nourse 12/17 ng attended by Chairman McCabe and Messrs. Thomas, Riefler, and Ralph Young, discussion of budget to be submitted by President and 12/14 legislative proposals Regulat' 1.°n W, amendment to cover repair and moderniza4ncil 12/21 tion loans, reply to inquiry from Mr.Clark °f Insured Savings Associations of New York State, Mr. Thomas to speak at Annual Convention 4/23 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2164 2193 1571 1786 1545 868 2168 1153 2177 1758 2162 2170 1969 2146 2115 2170 644 • °quaell of State Governments: Legislation, no proposals to be placed before, letter to 6/28 Attorney General C0 tinsel, FRBanks: PRBank of Boston: Noonan, John T., employment to resist real estate tax 6/2 assessments and fee approved PRBank of Chicago: Mayer, Meyer, Austrian and Platt, and Attorney Marshall V. Kearney, employment as special counsel in tax 6/2 matter approved FRBank of Cleveland: Squire, Sanders and Dempsey, advice of reappointment, for 1/14 first four months of 1948 1948, 1, May after discontinued be Outside counsel to letter as reminder of Board's positicn to 3/9 be sent to 1948, 1, May after counsel outside Discontinuance of notification of Board's position, letter to 3/23 Bank approved after discussion disfor Board with meet to Gidney Messrs. Brainard and 4/19 cussion and luncheon of retention and Counsel as Blair APpointment of Mr. Squire, Sanders and Dempsey at reduced fee 4/29 for one year to be considered favorably fee reduced retention at Dempsey, Squire, Sanders and for one year to be considered favorably by 4/29 Board Payment of retainer approved, extra compensation to be paid for special matters if authorized by 5/21 directors and approved by Board PR13e.nk of Dallas: Johnson, Hubert D., resignation accepted, employment on part-time and month-to-month basis pending selection of successor and retainer fee ap3/9 proved /Mite, Mastin G., mentioned as possible successor to 3/9 Mr. Johnson FP13arqr -D- of Philadelphia, outside counsel to be discontinued after May 12 1948, letter as reminder of 3/9 Board's position to be sent to Notification of Board's position, revised letter to 3/23 OutsiBank approved after discussion Board with de, Messrs. Brainard and Gidney to meet 4/19 0°unsel for discussion and luncheon Transwith connection 4.2 Special, Board of Governors in america Corporation proceeding, review by Messrs. McCabe and Vest of efforts to find 12/13 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 113 Pages 1057 895 896 66 336 413 609 687 687 826 334 335 336 413 609 2110 Co 1.4'°ely Special: (continued) Smith, Joseph J., retention in connection with Transamerica proceeding and fee plus reimbursement for traveling and other expenses ap12/17 proved C°14rt oases: 8411k of Phoebus, Virginia, matter, FRBank of Richmond authorized to furnish information to County Attorney for Elizabeth City County, examiners for FRBank of Richmond to appear as witnesses 3/25 to testify concerning matter Cement Company case, effects of Supreme Court decision dis10/5 cussed at meeting with Presidents clVton Act proceedings, confidentiality of, no record at present to be sent out, advice to Mr. Reynolds, 9/2 Walker's Manual, Inc. Peoples Bank v. Eccles, et al., suit regarding condition of membership, statement to be published in FR 3/18 Bulletin Tra nsamerica Corporation, antitrust litigation, report of 4/2 Mr. Townsend on status of investigation Mr. Townsend to make report of investigation 5/25 Report of investigation by Mr. Townsend 5/26 Proceeding to be instituted, letters of advice to be sent to Attorney General, Comptroller of the Currency and Chairman of FDIC, Messrs. Evans, Clayton, and Townsend to recommend action as 5/26 to procedural questions to be considered Procedure 5/27 approved Advice to Attorney General, Comptroller of the Cur5/27 rency, and FDIC of decision to institute Issuance of complaint and notice of hearing, copies to be sent to Attorney General, Comptroller of the Currency, Chairman of FDIC, and President of FRBank of San Francisco, no 6/23 publicity to be given to case Co of complaint against requested by Federal Trade Commission, to be sent upon receipt of formal 8/3 request Coo in, Peration of Comptroller of the Currency expected statements of Messrs. Clayton and Townsend re 8/24. Notice requesting specific charges under complaint to be served on Board, statement of Mr. McCabe re 9/10 talk with Mr. Stewart Complaint against, demand for additional details re, 9/21 Board's response denying request approved Request for public hearing and for change in place of hearing by, action deferred until meeting in October 1, 1948, Chairman McCabe at liberty to discuss matter with Secretary of the Treasury, Comptroller, and Chairman of FDIC, 9/29 comments of Mr. Thurston to be requested http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 114 Pages 2144 447 1700 1435 385 521 840 849 855 862 864 992 1212 1366 1485 1550 1633 115 Pages Ntrt cases: (continued) Transamerica Corporation: (continued) Order approved granting renuest for public hearing but not for change in place Procedure for hearing approved Proceeding against, complaint for injunction to be filed in District Court by Mr. Stewart, discussion of matter with Chairman McCabe, action re postponement of hearing to be deferred pending legal steps by, attorneys to confer with Board's Counsel in future rather than with Board members Qualifications of Board members to participate in, challenge by Transamerica to be made at proper time Complaint for injunction filed by, Mr. Townsend authorized to file motion to dismiss and to ask Judge Morris to set date for early hearing Motion to show cause in connection with complaint for injunction, filed by Mr. Townsend, hearing set for October 20, 1948 Board's motion to dismiss complaint for injunction, decision by Judge Morris to be expected soon Complaint for injunction dismissed, hearing to be held on December 7, notice and press statement approved M°tion to disqualify Messrs. Eccles and Clayton, discussion and decision for both Board members to disqualify themselves M°tion re hearing and determining issues in all motions of Transamerica before hearing, filed by Motion filed requesting production for inspection of Board minutes, records, and papers in motion re libtion to disqualify Mr. Clayton, no present disposition to be made of, but Mr. Clayton to refrain from participation S tatement and order of Board denying motion for oral argument and determination of motions not filed and motion for production of material in Board's files Order that oral argument be held on December 11, 1948, In Washington Hearing to be resumed after first of year, oral arguments on motions filed by Corporation to be held on December 10, 1948 order to hold oral argument on motions on December 11, 1948, approved Order changing date for oral argument from December 11 to December 13, 1948, approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10/1 10/1 1648 1658 10/8 1718 10/8 1720 10/11 1729 10/12 1738 10/22 1802 11/5 1858 12/3 2041 12/3 2041 12/3 2042 12/6 2055 12/6 2056 12/6 2059 12/7 2072 12/7 2083 12/8 2092 Court cases: (continued) Transamerica Corporation: (continued) Mr. Joseph J. Smith retained to advise and assist Board 12/17 of Governors in proceedings Hearing at Board, oral arguments made on motions filed by, brief to be filed by Mr. Stewart, answer to be filed by Mr. Townsend, and then Board to consider matter, transcript of arguments 12/13 filed Violations of Federal banking laws by State member banks, letter to Attorney General of United States 3/5 on prosecution of Covey, J. Nap, shipments of currency and coin with postage and express charges prepaid by banks, reply to 3/16 letter re practice by St. Louis banks Craft, H. M., President of California Bankers Association, Regulation WI reply to inquiry re renewals and 11/15 revisions of real estate loans under Crane, w. J. , Regulation W, exemption of loans of less than $50, 11/2 reply to suggestion from 4edit: Bank, discussion at meeting of FAC of restricting Use to halt black market transactions in steel, reply to letter from Mr. Stremel re Banking System, reconversion work done by, discussion at 2144 2108 325 373 1905 1842 4/27 676 9/2 1.433 FAC of entry of Government into credit field 11/16 Control of all types, discussion in connection with emer- gency legislation to be drafted by National 4/14 Security Resources Board Controls, recommendations to be included in President's message to special session of Congress, 7/20 Mr. Thomas to prepare memo re Letter to Chairmen to be prepared by Mr. Evans requesting suggestions re recommendations for legis7/20 lation Anti-inflation bill, member of Legal Division to assist Senate Banking and Currency Committee lawyers 8/6 in drafting language Effectiveness of policies of restraint and recommendations for further action, topic for discussion at 8/18. meeting of FAC FAC statement re effect of increases in rediscount and 9/21 certificate rates /30ard's effectiveness of response to statement of FAC re 9/21 restraints Prohl --ems of System reviewed by Chairman McCabe at meeting of Council of Economic Advisers committee, matter of authority over reserve requirements to be discussed by Chairman McCabe, Dr. Nourse, 12/23 and Secretary Snyder http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 116 Pages 1915 580 1131 1131 1242 1324 1563 1567 2190 117 Pages elsedit: (continued) Council to coordinate domestic policies of Government lending agencies, desired by Council of Economic Advisers, Messrs. Young and Solomon to report 12/21 on discussions at informal conference re Examination policy of FRBanks as instrument for, statement of Chairman Eccles re, discussion of variations 1/6 in Expansion, participarestraint, voluntary for ABA program tion in meetings, Mr. Clayton to draft state1/9 ment of acceptance of invitation ABA program for restraint, measures being taken by banks and results, to be discussed at meeting of, 2/2 FhC 2/17 Discussion of pilot meetings, at meeting of IAC Reserve requirements of central reserve city banks, increase to restrain, discussion at suggestion of Mr. Fvans, matter to be considered again at meeting after middle of April 3/30 SYstem policies re, statement of Mr. Sproul re President's message to Congress concerning European Recovery Program and military service Discussion at meeting of FAC of causes and possible reme- 3/19 11/16 dies for Floor furnaces and other home improvement articles, easy terms 1/27 for, reply to letter from Mr. R. G. Martin Government lending agencies, coordination of domestic policies, council desired by Council of Economic Advisers, Messrs. Young and Solomon to report 12/21 on discussions at informal conference Coordination of domestic policies, Messrs. Young and Solomon to prepare draft of letter to outline informal means for, without contemplation of 12/21 passage of legislation Proposed advisory group to coordinate domestic policies, draft of letter to be considered by Board 12/23 before submission to technical group Draft of letter re establishment of Federal Loan Policy Committee approved, to be discussed with Mr. Lynch, Treasury Department, Secretary Snyder, and at meeting under auspices of Chairman of 12/28 Council of Economic Advisers }1011 s. letter to Representative Gamble calling attention to statement of Mr. Eccles to Joint Committee on Economic Report and letter to Treasury re, discussion, matter referred to Messrs. Eccles 2/6 and Szymczak PAC • 2/17 in agreement with Board on matter Letter to Chairman Gamble to be revised and sent when in form satisfactory to Messrs. Eccles and 2/19 Szymczak http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2162 19 46 141 210 478 390 1908 124 2162 2168 2192 2216 155 210 233 118 Pages Credit: (continued) H(Yusing: (continued) Draft of letter to Chairman Wolcott of House Banking and Currency Committee stating views of Board re legislation, not to be sent at 3/17 present time Senate Banking and of Chairman Letter to Senator Tobey, Currency Committee, re undesirable features 4/2 of S. 2317 and S. 866 Letter to Chairman Gamble, Joint Committee on Housing, not to be sent since message sent by Presi3/1 dent to Congress of Tit?.e extension to opposition to extend, Legislation VI of National Housing Act, letter to Senate Banking and Currency Committee to be prepared 3/30 ation, means in monetary and credit field to counteract, to be placed on agenda for discussion at 4/7 meeting of FAC Means in monetary and credit field to counteract pressures that might be created by new defense 4/27 proposals, discussion at FAC meeting Inf ormation re importers of Japanese products and prospective exporters to Japan, Board and FRBanks to furnish confidential material upon request from Department of Army, advice to 10/15 Royall Secretary Le Leg needed for, views of Chairman McCabe expressed 12/14 at meeting of Council of Economic Advisers Pollcie _, d statement of FAC re measures to combat inflation, 2/17 discussion at meeting with Board Reserve Bank, prospective changes, discussion in connection with reserve requirements, matter to be con1/9 sidered again Reserves, of, expansion measures to restrict use for further 2/2 to be discussed at meeting of FAC Trail_ --Ler coach financing, reply to letters from Mr. Theodore 4/26 Bargman and Hon. Raymond H. Burke redjtBu, eau, Inc., Washington, D. C.: Re ati(3/1 W, amendment proposed by Mr. Althaus to provide sets 9/27 Clseditfree trial period for television rnolouni°n s: (sy suggested to take place of employees' loan funds, matter to be discussed at Presidents Con2/10 ference, advice to Mr. Sproul Di credit unions, and funds scussion of employees' loan at Presidents Conference, present arrangements to be continued, Board to establish 2/27 basis for approval of loan funds Code, enactment by Congress to provide penalties for 8/19 violations of banking laws http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 374 499 290 482 548 661 1773 2115 198 38 140 654 1622 167 279 1335 • Currency: Costs of shipping, absorption by member banks, letter from 9/1 Mr. Berry on applicability of Regulation Q Foreign, certification of rates of exchange by FRBank of New York, letter to Chairman of Senate Finance Committee re H.R. 3810, to amend Tariff Act, 5/14 no further action to be taken Shipment by registered mail, procedure for preparing new paper currency for, copy of letter from 12/27 Treasury sent to FRBanks for comments Cur, 4ericy depots: Honolulu, establishment in connection with statehood for Hawaii considered 3P3 Possibility of opening in connection with H.R. 49, 4/7 Hawaiian Statehood Bill Cu -rruo3r shipments: Texas South High Plains Area, registered service, improvement requested by FRBank of Dallas, letter 5/6 to Mr. Lawler, Post Office Department Currie, Lauchlin, Subcommittee Investigation by request Senate for permission to examine personnel file, action to be deferred pending advice to absent 8/24 Board members Personnel file to be available to Mr. Bellino of Senate Investigations Committee for examination, advice to Mr. Rogers after discussion of 8/25 matter with all available Board members w receipts of city correspondent banks, acceptance by 1/29 FRBanks as collateral for loans C°11ateral securing loans to member banks, discussion of policy for all FRBanks and arrangement for deposit of securities at FRBank of New York, at meeting of Presidents with Board, matter to be reviewed by Board and proposed policy 2/27 statement to be submitted to FRBanks issued by city correspondent banks covering Government securities which are basis for loans, acceptance by FRBanks 4/5 P°11cY re acceptance, topic on agenda for Presidents Conference, Messrs. Vardaman and Clayton to discuss matter with Presidents before action 5/7 taken by Conference, advice to Ar. Davis Pr°Posed procedure agreed upon at Presidents Conference, each FRBank to adopt own method of advising 5/21 member banks Letter s to Presidents of FRBanks on acceptance by FRBanks 7/2 ' P., Regulation W, reply to letter re amendments concerning modernization and repair credits and 9/10 and enforceability of contracts —"es P., Department of Interior, activities of FRSystem in territories of U. S., reply to request for 7/9 information http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 119 Pages 1421 778 2206 428 552 717 1374 1377 128 270 534 726 811 1079 1492 1103 120 Pages Debt: FRBank and banks, use of surplus from tax receipts by Treasury to redeem, recommendation of FAX 2/17 discussed Management of public, measure of restraint for inflation, statement in letter to President for State 12/1 of Union Message Reserve method of accounting for bad, requests for current table re, instructions to FRBank of St. Louis 12/14 befe„ "se, national, plans re attack or invasion under consideration by National Securities Resources Board 9/10 and other Government agencies Depar, bment of Agriculture: FarM Credit Administration: Regulation WI cooperation re enforcement requested in 9/17 letter to Mr. Duggan jpePartment of the Army: Credit information re importers of Japanese products and prospective exporters to Japan, Board and FRBanks to furnish confidential material 10/15 4Partmentupon request, advice to Secretary Royall of Commerce: Personne' J. files, procedure followed upon receipt of requests for information from Congressional committees, loyalty data not released, discussion in connection with case of Lauchlin 8/25 Currie NPTment of Interior: Stern) activities in territories of U. S., information requested for use in report, reply to letDepetrt 7/9 from Mr. Davis meri of tJustice: Regulio WI enforcement procedure, previous arrangement 9/2 Stateto be cleared through for reissue distripermit to amend to proposed securities acts, bution of information to public prior to registration or qualification of securities for sale, no objection to, advice to Mr. 9/17 George T. Washington Transamerica Corporation case, question of submitting reply to letter from Mr. Giannini, Mr. Townsend to tell Mr. Baldridge about letter in 8/3 informal discussion present 9/20 Hill Guy Mr. Conference re proceeding, 1)ell3eitore: 198 2004 2123 1479 1526 1773 1377 1103 1425 1525 1211 1533 Le-rge, request for detailed information on condition of banks, Mr. Clayton to study matter Information on condition of banks requested by large, to be discussed with Federal Advisory Council and Conference of Presidents http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/6 154 2/16 189 DePo sitors: (continued) Discussion of question at Presidents Conference, FRBanks to be advised of requests made to Board, matter of written requests to be discussed 2/27 with other bank supervisory agencies DeP°sits: Demand, compilation by counties of individuals, partnerships, and corporations, approval of Bureau of the 1/14 Budget requested Escrov funds, classification on condition reports of Security Trust and Savings Bank of San Diego, 4/21 California Foreie,n 6 in United States, proposal submitted by National . Advisory Council to Senator Vandenberg, FAG 2/17 opposed to, discussion at meeting with Board 1' • °reign, statement of Board views read by Chairman Eccles 2/17 at meeting of FAG Gold requirements against, legislation re, Board 8/5 not to issue statement until after passage Ins urance of, Board opposed to S. 2526 to remove limitation 5/4 upon maximum deposit Interest on, inquiry on absorption of intangibles tax on Indiana deposits in national bank in New 1/21 York City Relation of par clearance to, reply to Bangert and 12/2 Bangert Latin American in United States, effect of National Advisory 2/17 Council proposal on Mexica 2/17 11! effect of National Advisory Council proposal on Ppine Republic, securities of Chase National Bank held as collateral by FRBank of New York for 7/23 deposits of, proposed arrangement approved Reserve requirements in gold against, topic for discussion 8/18 at meeting of FAG Sa.v ings accounts, Burroughs Company plan for handling, revision of Regulations D and Q0 views of FRBanks 9/28 requested Time and demand, compilation by counties of individuals, partnerships, and corporations to be obtained, 1/9. in connection with Transamerica case recompilation Approval of Bureau of the Budget for 1/14 quested Trustfunds, banking department deposit in member bank's own in single time deposit, open account, or in single savings deposit, ruling to permit under Regulation D, draft of letter re sent to 11/19 1)est FRBanks for consideration and comments ruction of List records: Nati_vi records in Board's files, recommendation approved 6/1 'nal Archives, no need for transferring records to, under system of destruction of unnecessary records, 9/9 advice to Mr. Price http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 121 Pages 282 66 617 193 195 1228 702 95 2029 194 193 1161 1324 1626 45 66 1945 894 1475 Di 122 Pages Venuti, Dr. B., University of Puerto Rico, discussions re revisions in banking laws of Puerto Rico, to be continved in cooperation with FDIC and Comptroller of the Currency tletaphone equipment in Secretary's Office, code warning signal to be attached to, expense to be charged to current year's budget °ill) H. P., Executive Vice President, Retail Furniture Association of Texas, Inc., Dallas, Tex., Regulation W, reply to letter Dialtnig rooms. lirc)wn and Blue private rooms, procedure for future use approved for period of 60 days PriVate, existing arrangement to be continued with addition of clause concerning use of Brown and Blue rooms Dinners: 5/27 7/1 1074 11/22 1956 3/9 337 10/22 1803 Chairmen's Conference, for meeting to be held on December 9-10, payment approved and budget of Division of Administrative Services to be increased to 12/3 cover Pr• esidents Conference, at Burning Tree Club, May 19, 1948, 6/10 payment of cost approved Say ings bond campaign, payment by FRBanks of cost of one dinner in each district, discussion at Presi12/1 Conference dents SPeclal • Libraries Association, conference to be held in Washington, reception for Financial Group and dinner for Federal Reserve librarians approved, budget of Division of Research and 5/7 Statistics to be increased to cover State Chairmen of Advisory Committee of Savings Bond Division of Treasury, dinner to be given at one 10/13 Washington hotels for c ?I' of the Mint: °In bags, return by FRBanks and Branches of empty, reply 12/14 to letter from Honorable Nellie Tayloe Ross -ectors. " 4 of Atlanta: Classification of member banks for election of Class A and Class B directors, changes approved Harris, Rufus C., Deputy Chairman, appointment for 1949 Nee),Y, Frank H., Chairman and FRAgent: Article by Mr. Solomon, not to be published in FR Bulletin but copies to be available for FRBanks, advice to Redesignation for 1949 Reinhold, Paul E., Class C, appointment for three-year PRBank term of Boston: Cabot, Thomas D., appointment as Class C director to be offered, discussion http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 874 3/3 12/27 2035 931 2022 721 1757 2126 299 2203 1434 9/2 12/14 2118 12/27 2203 7/13 1108 Directors: (continued) FRBank of Boston: (continued) Cabot, Thomas D.: (continued) Report of Mr. Creighton on refusal to accept ap7/23 pointment as Class C C Class as appointment Canham, Irwin D., possible director discussed, appointment to be offered if not accepted by Mr. Stevens and 7/13 Mr. Cabot Creighton,Albert M., Chairman and FRAgent: Appointment of Mr. Erickson as President of FRBank of Boston discussed with, in connection with question of directorship of Boston Edison 11/9 Company 12/14 Redesignation for 1949 disChairman as designation Hodgkinson, Harold D., cussed in connection with appointment of 7/13 Class C director 12/14 for appointment Chairman, 1949 Deputy 1/9 Meeting on Dec. 29, 1947, advice of actions taken Parkman, Henry, Jr., Class C, question of appointment to be reviewed because of membership in Metropolitan Transit Authority and political 3/23 implications Action on appointment to be deferred and Personnel Committee to investigate some other person for vacancy Stevens, Ames, possible appointment as Class C discussed, 3/30 appointment to be offered if not accepted 7/13 by Mr. Cabot 7/23 Appointment for unexpired portion of term approved Reappointed as Class C director for term of three 12/14 years West, Thomas Henry, possible appointment as Class C director discussed, appointment to be offered if not accepted by Messrs. Cabot, Stevens, 7/13 or Canham Rablik of Chicago: Avery, Clarence W., Chairman and Class CI unable to con• tinue service after expiration of term because 11/5 of ill health, discussion of successor Letter of appreciation for services as reappointment 11/26 not to be accepted HofP -man, Paul G., Deputy Chairman, continuation as member after appointment as Administrator for Economic Cooperation approved, draft of let4/7 ter to be prepared by Personnel Committee APpointment as Administrator for Economic Cooperation not to affect eligibility to continue service, exception made to rule because of 4/9 national interest involved in appointment http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 123 Pages 1155 1108 1873 2118 1109 2118 49 428 486 1108 1155 2117 1108 1858 1982 545 565 Dire ctors: (continued) FRBank of Chicago: (continued) Hoffman, Paul G.: (continued) Reappointment as Deputy Chairman not to be made in view of service as Administrator for ECA, but to continue to serve as Class C director 12/21 Lunding, F. 3., Class C director and Deputy Chairman, appointment approved after discussion of qualifications and talk with Mr. Hoffman 12/21 Noyes, Nicholas H., Class B, suggested as possible successor to Mr. Avery as Chairman and Class C, Mr. Szymczak to investigate matter when in, Chicago 11/5 Waymack, W. W., discussion of appointment as Class C director, Chairman and FRAgent with Mr. Eccles 12/21 FRBank of Cleveland: Baker, A. Z., Deputy Chairman, appointment for 1949 12/17 Brainard, George C., Chairman and FRAgent, statement of responsibilities, letter received raising questions re 2/13 To meet with Board for discussion of outside counsel problem 4/19 Present at Board meeting to discuss plans for Pittsburgh Branch building and outside counsel at Bank 4/29 Redesignation for 1949 12/14 Rummell, Leo L., appointment for term of three years as Class C director 12/17 Flea, of Dallas: Anderson, R. B., reappointment as Class C director for term of three years 12/14 Appointment as Deputy Chairman for 1949 12/14 Parten, J. R., Chairman and FRAgent, redesignation for 12/14 1949 FRB ank of Kansas City: Caldwell, Robert B., Chairman and FRAgent, redesignation for 1949 12/14 11e, Lyle L., reappointment as Class C director for term of three years 12/14* Me hornay, Robert L., Deputy Chairman, appointment for 413a. , 12/14 1949 " 4- of Minneapolis: ,,ctions taken at meeting, advice of 1/16 ''ochran, W. D., Deputy Chairman, appointment for 1949 12/14 Miller, Paul E., reappointment as Class C director for term of three years 12/14 ShePard, Roger B., Chairman and FRAgent, redesignation for 1949 12/14 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 124 Pages 2167 2161, 2167 1858 2166 2150 182 609 684 2118 2150 2117 2118 2118 2118 2117 2118 82 2118 2117 2118 Directors: (continued) FRBank of New York: Brownlee, James F., Class CI mentioned as possibility for appointment to vacancy, Chairman Eccles 2/19 to investigate matter further in New York Class C and Chairman and 1RAgent, to be offered appointment if agreeable to Mr. McCabe 4/14 Appointment to be tendered if willing to accept, if 4/23 appointment not accepted by Mr. Stevens Calkins, Robert D., Acting Chairman, letter commenting on statement of responsibilities, reply to be 1/16 drafted by Messrs. Thurston and Townsend Statement of responsibilities, reply to letter re not to be sent until after discussion at . 2/13 Presidents Conference Reply to letter approved, copies to be sent to Chairmen of FRBanks, matter to be discussed 2/19 at Chairmen's Conference if desired Classification of member banks for election of Class A 9/14 and Class B, changes approved Committee on Welfare of Staff, meeting to be held with Board on May 14, discussion of matters that 5/7 might be presented Myers, 'William I., reappointment as Class C director 12/14 for term of three years 12/14 Deputy Chairman, appointment for 1949 Rubicam, Raymond, Class C and Chairman, mentioned as possibility, appointment acceptable to 3/30 Mr. McCabe Stevens, Robert T., Class C, to be appointed for unex4/23 pired portion of term if willing to accept Question of appointment as Class C director in view of membership on board of Mutual Life Insurance Company of New York, discussion, Mr. McCabe to continue discussions with, if connection to be continued, appointment to be discussed at Board meeting when all members are present 5/7 Appointment for remainder of term and designation as Chairman and FRAgent for 1948 approved, to be on leave of absence as director of Mutual Life 5/14 Insurance Company of New York -Increase in reserve requirements, letter to Board re action, to be considered further by Board and Mr. Stevens to be invited to meet with Board 6/22 for discussion Thurston to and prepare Vest Carpenter, Messrs. 6/25 drafts of letter in reply to discussed, be to matter action re replies Drafts of 7/6 discussed with Mr. Stevens in Washington Discussion with Mr. McCabe of Board action, report to directors to be made re submission of 7/13 matters to directors 12/14 Chairman and FRAgent, redesignation for 1949 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 125 Pages 236 577 636 72 182 226 1504 725 2117 2118 487 636 732 768 985 1043 1083 1112 2118 Dire etors: (continued) FRBank of New York: (continued) Willits, Dr. Joseph H., Class C, mentioned as possibility for appointment to vacancy, Chairman Eccles to investigate matter further in New York Possibility as Class C and Chairman and FRAgent, Mr. McCabe in favor of appointment, Mr. Eccles to discuss matter with Mr. Willits Unable to accept appointment as Class C and Chairman and FRAgent PRBank of Philadelphia: Batt, William L., considered for appointment as Class. C director and designation as Chairman and FRAgent Ingersoll, C. Jared, not available for appointment as Class C director and designation as Chairman and FRAgent McCabe, Thomas B., Chairman and FRAgent, resignation accepted, to become member of Board of Governors McGowan, James, Jr., considered for appointment as Class C director and designation as Chairman and FRAgent Meinel, William J., proposed appointment as Class C director and designation as Chairman and FRAgent, discussion, question to be considered at meeting on June 25, all Board members to be advised and furnished with copies of material Discussion of connection with Bethlehem Steel Corporation, appointment to be made if willing to accept Appointment as Class C director and designation as Chairman and FRAgent to be tendered to Appointment as Class C director and designation as Chairman and FRAgent not accepted FRB411k of Richmond: McCormick, Charles P., Deputy Chairman, reappointment for 1949 Chairman and FRAgent, designation for 1949 Stettinius, Edward R., Jr., classification of papers of late Senator Carter Glass, Board opposed to employment by FRBank of Richmond of person for project Class C, resignation to be accepted effective Dec. 31 Wiggins, A. L. M., Class C, appointment for term of three years and designation as Chairman and FRAgent for 1949 approved Appointment as Class C director and designation as Chairman and FRAgent declined http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 126 Pages 2/19 236 3/30 487 4/14 577 6/8 906 6/8 905 4/15 587 6/8 907 6/8 907 6/25 1035 7/13 1111 7/23 1151 12/17 12/23 2151 2187 8/9 1332 12/17 2150 12/17 2150 12/23 2186 127 Pages Directors: (continued) FRBank of 'Richmond: (continued) Woodward, J. Brockenbrough, Jr., Class CI appointment for unexpired portion of term and designation as Deputy Chairman for 1949 Wysor, W. G., Chairman, reappointment not to be made after expiration of term, at reauest of, reply to letter to be prepared Reappointment as Class C for three-year term FRBank of St. Louis: Bryce, William H., Class C, appointment for unexpired portion of term and as Deputy Chairman for balance of 1948, bank stocks to be disposed of Deputy Chairman, appointment for 1949 Dearmont, Russell L., Chairman and FRAgent, present at Board meeting to discuss rehabilitation of Nugent Building To be invited to discuss executive organization of Bank with Personnel Committee Official personnel problem to be discussed with Chairman McCabe in IZashington Discussion of personnel situation at Bank with Chairman McCabe, to go over memorandum of Mr. Morrill before further discussion Redesignation for 1949 Smith, Tom K., present at Board meeting to discuss rehabilitation of Nugent Building Thomas, Charles P., Class C, appointment for threeyear term to be tendered to Unable to consider appointment as Class C director, Chairman McCabe to discuss further possibility of acceptance with "Aof San Francisco: Wellman, Harry R., Class C and Deputy Chairman, question of reappointment after completion of two consecutive three year terms, matter to be considered with appointments at other FRBanks but no sentiment against, Mr. Wilbur to be advised Appointment as Deputy Chairman for 1949 Reappointment as Class C director for term of three years Wilbur, Brayton, Chairman and FRAgent, redesignation for 1949 FRBanks: 12/30 2241 11/9 12/17 1880 2150 3/22 12/14 398 2118 5/18 795 6/25 1026 11/23 1966 12/13 12/14 2111 2118 5/18 795 12/23 2187 12/31 2261 9/21 1544 12/14 2118 12/14 2117 12/14 2118 APPointment of, procedure approved 12/3 Chairmen, suggestions re System problems to be welcomed from, letter sent by Chairman McCabe reauesting comments re reserve requirements of commercial 4/26 banks 2040 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 649 128 Pages Di rectors: (continued) FRBanks: (continued) Civic and community positions, service in, advice to 12/27 2204 FRBank of Atlanta Class CI invitation to Washington before appointment and visit by Board Member to FRBanks when new directors sworn in, suggestion of Mr. Szymczak to resume practice, discussion 3/5 321 but no action taken Insurance company connections, discussed in connection with appointments, in case of Mr. 5/7 732 Stevens, FRBank of New York Reappointment after completion of two consecutive three year terms, question in connection with Mr. Wellman at FRBank of San Francisco, to be considered at time of other appointments but 9/21 1544 no sentiment against Economic situation, letter to Chairmen requesting opinions of directors re current and prospective 11/29 1986 New, invitation to Washington to meet Board members and staff, suggestion of Mr. Vardaman, discussion but no conclusions reached 4/7 545 Problems of FRSystem, consultation with Chairmen and other directors suggested by Chairman McCabe, letter sent to Chairmen requesting suggestions re reserve requirements of commercial banks to be used in preparation of material for testimony of Mr. McCabe 4/26 649 Responsibilities and relations to Board, revised statement, comments of Mr. Calkins re, reply to letter to be drafted by Messrs. Thurston and 72 1/16 Townsend Statement of, letter from Mr. Calkins, FRBank of New York, re, reply not to be sent until after 182 2/13 discussion at Presidents Conference questions re 2/13 182 Letter from FEBank of Cleveland raising Reply to Mr. Calkins approved, copies to be sent to Chairmen of FRBanks, matter to be discussed 2/19 226 at Chairmen's Conference if desired Revision, discussion after reply sent to Mr. Calkins, draft to be prepared for consideration of 3/5 318 Board . Discussion of further changes, Messrs. Thurston and Morrill to prepare new draft 543 4/7 Draft to be sent to executive committee of Chairmen's Conference for comments before 4/23 627 sending to all Chairmen for suggestions Submission of matters to, such as action of Board in increasing reserve requirements, report of Board's feeling to be made by Mr. Stevens to 7/13 1113 directors of FRBank of New York http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Di rectors: (continued) FRBanks: (continued) Visits to offices of Board, members of Board to be notifiedd by Office of Secretary Directors, FRBranch banks: Baltimore: Hooper, James E., appointment for three-year term Birmingham: Smith, Wm. Howard, appointment for three-year term Buffalo: Swift, Lewis B., appointment for unexpired portion of term Wooster, Carl G., appointment for three-year term C harlotte: . Shaw, R. Flake, appointment for three-year term Ci ncinnati: e, Ernest H., appointment for three-year term DenvleiV:In Winder, G. Norman, appointment for two-year term 129 Pages 4/2 502 12/14 2118 12/14 2118 1/23 12/14 112 2118 12/14 2118 12/17 2151 12/17 2151 Gilbert Ernest, reappointment for two-year term El Paso: ' 12/14 2119 Roderick, Dorrance D., appointment for three-year term Helena: 12/14 2118 12/17 McCain, James A., appointment for two-year term licuston: , Stewart, Ross, appointment for three-year term 12/14 %Jacks°nville: 1/16 Bland, W. T., resignation accepted Lee, Charles S., resignation accepted 7/8 Miller, J. Hillis, appointment for unexpired portion of 8/16 term approved . Appointment for three-year term 12/14 Phillips, Howard, appointment for unexpired portion of 2/5 term approved Little Rock: COX, Cecil C., appointment for three-year term 12/14 Stebbins, A. Howard, Sr., appointment for unexpired 2/10 portion of term approved Los Angeles: , 12/14 Sherrill Fred G., reappointment for two-year term Louisvill e* Broadbent, Smith, Jr., appointment for unexpired portion 6/14 of term 4/26 ,,tcrie, Rose°, resignation accepted laYlor, John W., appointment for three-year term 12/27 Alvin A., appointment ior unexpired portion of 1/19 term approved MeMPhis: NashIS Itton, Leslie M., Jr., appointment for three-year term]2/14 2151 Meacham, H. C. appointment for three-year term http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/14 2118 81 1097 1287 2118 149 2118 165 2119 949 652 2203 87 2118 2118 130 Pages Directors, FRBranch banks: (continued) New Orleans: Shaffer, John J., Jr., appointment for three-year term 12/14 2118 NewsPaper publishers and operators, discussion of appointment as directors 1/16 79 Oklahoma City: Green, Rufus, reappointment for two-year term 12/14 2119 Omaha: Seacrest, Joe W., publisher, appointment recommended by Personnel Committee, but to be considered 78 further 1/16 To be appointed if willing to accept, after discussion of publishing business ' Appointment for unexpired portion of term 4/t /579 t 5 9 5 Wallace, s Fred S., reappointment for two-year term 12/14 2119 Pitt Burchfield, A. H., ineligible for reappointment because of appointment as director of Union National 6/17 Bank of Pittsburgh, Pa. 12/14 ppointment for three-year term Portland:1 1 Taylor, R. B., reappointment for two-year term 12/14 Salt Lake City: Her, Merle G. Y reappointment s y for two-ear term pp 12/14 -'n Antonio: Drouc,ht Henry P., appointment for three-year term 12/14 Seattle:c) 2 961 2118 2119 2119 2118 Isaacson, Henry C., appointment for unexpired portion 82 of term approved 1/16 bistri ,MeOregor, John M., reappointment for two-year term 12/14 2119 ' c of Columbia Bankers Association, conference at White Sulphur Springs, attendance by Mr. Clayton, Distale+ 691 travel expenses approved 4/29 of Columbia Building and Loan League: 'gulation W, amendment to exempt instalment loans secured shares of stock in building and loan associations, 10/22 1808 reply to Mr. C. Clinton James 0, wi • 111am K., Housing and Home Finance Agency, request that Board work with Agency re housing and housing legislation 5/18 790 Regul „ 4"lon W, cooperation of Home Loan Bank Board re enforce04,0 ment requested in letter to 9/17 1526 Ilknks, semiannual payment for first half of 1948 approved D°111esti Semiannual payment for last half of 1948 approved c national advisory council (See Credit; Committees, Federal Loan Policy, and Loans, Federal Do riaadso, lending agencies) " Company: RegIllati ---°n W, proposed plan for cycle-billing, reply to letter from FRBank of Minneapolis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/23 1018 12/28 2230 9/15 1510 131 Pages Dug, I. W.) Regulation W, cooperation of Farm Credit Administration, Department of Agriculture, re enforcement requested in letter to tarnings FRBanks: Additions to contingent reserves to build them up to premium account on Government securities and probable reduction in amount payable to Treasury Reserves for contingencies, addition to be made rather than to change existing 90% arrangement with Treasury, Treasury and FRBanks to be advised, and matter to be placed on agenda for next, Presidents Conference Member banks for 1947, release of figures and of press statement approved ta.rn 4 -4-ngs and dividends: F410, forms and instructions to be sent to FRBanks for 1948 report Reserves for bad debts on loans, revised forms approved for, advice to FRBanks Reserve for bad debts to be deducted from loans and capital accounts, changes in reporting on Form 107 approved tarh4_ and expenses: FR 107b, forms and instructions for semiannual report to be sent to FRBanks 4stlah,1 James 0., Regulation W, reply to letter from Mr. E.C. Polk re amendment to make unenforceable contracts not conforming with A;" Cooperation Administration: sistanoe of FRBanks to Administrator, services not to be used at present, advice to Mr. Sproul Drafts drawn by participating countries on, request for services of FRBank of New York as Fiscal Agent in payment of, discussion of providing limited services in order not to deprive commercial banks of business, but no action taken ' 4- of New York, arrangements for staff work in connec• tion with, Board in sympathy with assignments but information before definite plans in future desired Rirso— ' 44n, Albert 0., economist, assigned for part-time work with Loan of services during stay in Paris, formal request to be considered favorably Legisi aO-Nre proposals for 1949-50 European Recovery Program, Mr. Southard to represent Board in working with Mr. Wood to formulate plans for, advice °Peratto Mr. Hoffman i°ns under, report of Mr. Southard on http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9/17 1526 11/23 1964 6/25 1030 2/16 191 11/3 1847 5/13 763 4/13 575 6/8 924 10/27 1828 7/13 1115 11/23 1962 6/18 973 6/16 956 10/13 1755 11/22 12/21 1954 2165 E • conomlc Cooperation Administration: (continued) Report by Mr. Dembitz on problems in connection with intra— 8/20 European trade Staff of Foreign Areas Section of Division of Research and Statistics, temporary assignments to work with approved, to be reported to Personnel Committee 6/23 Eco • c problems facing Government, Mr. AcCabe to attend meetings on proposals at request of Mr.Nourse 11/23 Eccrif, 4 ' Bile situation, letter to Chairmen requesting opinions of Eldirectors re current and prospective 11/29 --4.vador: Mission by ERBank of New York, no objection but doubtful'as to results 2/10 4seti°ns, national, change in situation and business sentiment caused by outcome, statement made by Presi— dent Brown at meeting with FAC with Board 11/16 Rlectrio power at FRBanks in case of emergency, letter to FR Banks on installation of equipment 6/2 EMergency at FRBanks and Board, information re facilities and plans for evacuation of other Government agencies to be obtained before discussion of matter at meeting in September 7/20 FRBank of St. Louis, no objection to conversion of generating equipment to emergency status 7/22 Em ergeney facilities at Board and FRBanks, memorandum from Mr. Bethea discussed, matter to be placed on agenda for Presidents Conference and question of Board's building to be referred to Mr. Draper 9/10 EmergenCY facilities at FRBanks and branches, topic to be on agenda for Presidents Conference, advice to Mr. Davis 9/15 f°1-m treatment of matter considered impossible, discus— sion at Presidents Conference 10/5 41erlder, Allen J., Regulation W, reply to letter from Mr. Bahlinger re discriminatory requirements on furniture and electrical appliances 10/25 t*)3r suggested for conducting study of effect of decision on basing point pricing system on cement industry 9/29 rapioyees Loyalty Program, under Executive Order 9835, procedure approved 1/6 Eq (See a130 Loyalty program) 4-s Life Assurance Society, revision of policy with FRBank of New York for group life insurance to provide additional coverage for employees and officers, t8n, , acknowledgment of letter 7/13 Iunds, classification in condition reports of Security Trust and Savings Bank, San Diego, California 4/21 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 132 Pages 1339 1017 1969 1986 164 1907 897 1129 1147 1479 1511 1701 1814 1628 20 1115 617 EuroPea n Recovery Program: Bill passed by Senate, provisions outlined and purposes 3/19 discussed by Mr. Knapp Dembitz, Lewis N., report re developments given at Board 8/10 meeting by Ev a%-uation of Board's building and FRBanks in event of attack, information re plans of other Government agencies to be obtained before discussion 7/20 at meeting in September 4ara inations: Annual examination of State member banks, policy to be maintained, advice of developments requested from 8/3 FRBanks Banque Nationale de la Republique dtHaiti, completion of mission for, letters to FRBanks of Richmond and Chicago re services of Messrs. Snead and 5/27 Gustayson Belvidere permission State Bank, Belvidere, South Dakota, granted to FDIC to examine for continuance of insurance after withdrawal from membership in 7/6 FRSy stem Chase Harry J. Meyer as Bank, New York, N. Y., appointment of Har 10/26 examiner to participate in Report co 12/30 copy forwarded to Chairman Commercial • State Bank of Melvin, Illinois, permission granted to FDIC to examine for continuance of insurance 6/24 after withdrawal from membership C°111n1Unity State Bank, Grandville, Michigan, permission granted to FDIC to examine for continuance of insurance after withdrawal from membership 6/11 C°nference of Vice Presidents in charge of Examination Departments to be held February 12-13 to consider examination and supervisory policies, 1/21 advice to FRBanks - Company Bank, Oakland, Oregon, permission L Gs Young & granted to FDIC to examine for continuance of 5/6 insurance after withdrawal from membership PRBank of Boston, report considered and signed by directors, FRnotes of 1928 Series to be canceled and 2/10 to Treasury for destruction forwarded FRB87,,_ of Chicago, copy of report left for information of 11/18 Chairman and directors, comments requested PREtank 0 _ f Cleveland, copy of report left for information of Chairman and directors, Auditor to make reexamination of present audit program and to make report to Audit Review Committee 3/9 FRBank of Dallas, copy of report left for information of 6/14 Chairman and directors, comments requested PRBanit of Kansas City, copy of report left for information of Chairman and directors, comments and views re matter of audits and auditing staff request12/22 ed http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 133 Pages 387 1252 1130 1204 872 1089 1816 2241 1021 941 96 712 166 1941 343 950 2184 Examinations: (continued) PRBank of Minneapolis, copy of report left for information of Chairman and directors, comments requested 3/25 FRBank of New York, report considered by Auditing Committee and presented to Board of Directors, information re future changes in procedure of making transfers of gold under earmark reauested 6/7 FRBank of Richmond, copy of report left for information of Chairman and directors, comments requested 8/31 F of St. Louis, report on, discussion of official staff problems, Chairman McCabe to discuss matter with Mr. Davis 9/10 Discussion in connection with problems of official staff 9/29 Copy of report left for information of Chairman and directors, comments requested, advice requested re additional half-day off taken by certain officers and need for revising Vault rules and regulations 10/7 MBank of San Francisco, policies of examination departments, question raised by 1/6 Report presented to Directors, audit program re branches to be reviewed, two balance sheet audits of each branch to be made for each year, views of Directors requested 1/13 FRBanks: Mr. Millard authorized to institute and conduct for 1949 12/9 Reports, review with executive committee or entire Board of Directors rather than with Chairman only, suggestion of Mr. Vardaman discussed but no action taken 9/10 First -ank n Stock Corporation and Northwest Bancorporation to be furnished with copies of reports of subsidiary State member banks, advice to FRBank of Minneapolis 11/3 First State Bank of Mounds, Illinois, no objection to reported investment in banking premises 11/17 -Ls Trust and Savings Bank, Chicago, Illinois, not to be made for present year 11/16 Kinsi=Y Bank, Kinsley, Kansas, permission granted to FDIC to examine for continuance of insurance 4/26 National , after withdrawal from membership in FRSystem Bank of Haiti, request for examination by Board to be considered favorably if made by Government of Haiti, costs to be borne by Government of Haiti 1/23 Designation of Messrs. Gustayson and Snead as FRFxaminers for participation in 2/19 10 be made by Messrs. Wilkes, Goodman, Gustayson, and Snead, arrangements for traveling expenses with funds advances to Messrs. Wilkes and Goodman approved 3/4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 134 Pages 449 902 14RBank 1486 1636 1716 18 61 2097 1486 1846 1934 1926 653 109 240 303 135 Pages EXaminations: (continued) National Bank of Haiti: (continued) Agreement to scope by Government of Haiti, advice re examining staff and arrangements sent to 3/9 Secretary of State North Side Bank, Evansville, Indiana, permission granted to FDIC to examine for continuance of insur11/5 ance after withdrawal from membership Northwest Bancorporation and First Bank Stock Corporation to be furnished with copies of reports of subsidiary State member banks, advice to 11/3 FRBank of Minneapolis Policies among examination departments of FhBanks, variations, discussed in connection with examination of FRBank of San Francisco, Mr. 1/6 Clayton to study matter further Pc)licS, issuance of joint statement to be discussed at conference of Vice Presidents of Examination 2/6 Departments P rocedure, 1938 agreement among Federal supervisory agencies not followed by Comptroller of the Currency and FDIC, discussion to be continued Et meet2/13 ing with Messrs. Delano and Hanl Uniform, Mr. Clayton authorized to call meeting of Inter-Agency Committee to consider changes in 1938 agreement among Federal supervisory 5/27 agencies to Clayton Mr. by Messrs. Delano, Hanl and Cook invited 7/6 luncheon to discuss policies of revision of Discussion at Presidents Conference agreement of 1938, modifications to be made only after consideration and agreement by 10/5 three agencies concerned RePorts: Confidential, cannot be made available by tate member 1/23 bank to surety company Not to be made available to representatives of surety 1/23 company, advice to FRBank of Boston information Missouri, City, Merchants Bank of Kansas for FDIC to be developed by FRBank of 2/12 Kansas City examiners Copies of memorandum re loan secured by capital 3/2 notes of Bank of Odessa sent to FDIC hequest by ABA for information concerning reserves for contingent losses in trust departments, letter to Mr. Stephenson re confidentiality 11/18 of State member banks having loans guaranteed by RFC, availability to RFC, Mr. Leonard to advise RFC that request of member bank with provision in agreement for authorization to be required, FDIC and Comptroller of the Currency to be 2/6 advised http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 343 1863 1846 18 157 181 874 1086 1694 112 112 171 294 1941 152 136 Pages 44minations: (continued) Reports: (continued) State member banks, data re salaries of bank officers and employees, use by Chief Examiner Fenner, FRBank of Philadelphia, for discussion of personnel relations at conferences authorized 3/26 Use in Transamerica Corporation proceeding, discussion 9/20 with Mr. Delano re Sanborn County Bank, Woonsocket, South Dakota, permission to FDIC to examine for continuance of insurance 2/6 after withdrawal from membership Seattle and Portland Branches, vouchers for examiners of FRBank of Minneapolis for assistance approved 6/11 S• ecurity Bank and Trust Company, Philadelphia, Pa., no objec tion to review of report of examination by 10/28 Pennsylvania Company for Banking and Trusts State zank n of Townsend, Montana, question of fidelity insurance coverage, matter to be deferred until 6/23 next examination State member banks, return to policy of appointing fulltime Chairmen and FRAgents to supervise, suggestion of Mr. Vardaman, recommendation to be 12/21 submitted by Messrs. Vardaman and Clayton Tipton State Bank, Tipton, Iowa, permission granted to FDIC to examine for continuance of insurance after 11/3 withdrawal from FRSy stem United Bank and Trust Company, St. Louis, Mo., violations of Federal statutes re misapplication of funds of member banks and political contributions by corporations, advice to FRBank of St. Louis Nazi 12/15 re reporting ners, Board of Governors: B4rker, C. S., salary not to be increased in conformity with 6/25 Federal Employees Salary Act of 1948 Bartz, C. H., salary increased 4/16 13ender, William C., Asst. FRExaminer, appointment and 5/27 salary approved 1/8 increased salary FRExaminer, G., 04) Lawrence H., Asst. FRExaminer, salary increased 3/11 9/2, 00,!k, John F., Asst. FRExaminer, salary increased to-", Robert W., Asst. FRExaminer, salary increased 1/8 118, Fred A., promotion to FRExaminer and salary increase approved, headquarters to be changed from Chicago to Washington, D. C., and reimburse3/18 ment to be made for moving expenses L. p., 4/16 Jr., Asst. FRExaminer, salary increased pis Re 5/19 signation accepted Cher, Charles E., Assistant FRExaminer, resignation 3/17 accepted er, James V., assistant examiner on loan from FRBank of Kansas City, extension of temporary appoint3/11 ment and salary increase approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 457 1534 160 947 1831 1017 2162 1846 2129 1038 594 869 27 351 1424 27 382 594 800 376 351 137 Pages Exa miners, Board of Governors: (continued) Fisler, James V.: (continued) Salary to be increased in conformity with Federal Employees Salary Act of 1948 Appointment made permanent and salary increased, credit to be given for annual leave accumulated at FRBank of Kansas City ,clod, George E., FRExaminer, salary increased Goodman, Glenn M., services available for examination of National Bank of Haiti To participate in examination of National Bank of Haiti, and advance of funds approved Hagler, H. H., Asst. FRExaminer, salary increased Hart, John J., Asst. FRExaminer, salary increased " truP, Clarence C., appointment as Assistant Director of Division of Examinations and salary increase approved How an) C. K., Asst. FRExaminer, resignation accepted, deduction to be made for overdrawn sick leave, and separation allowance approved Huxhold, Elmer J., appointment as assistant examiner on temporary basis and salary approved Jo hnson, Malcolm F., appointment as Assistant FRExaminer and salary approved Kent, Kenneth A., Assist. FRExaminer, salary increased Granted additional leave and reimbursement for expenses for 1948 session of Graduate School of Banking xi, APPointment as FRExaminer and salary increase approved 1,..,-LeY, John N., Jr., Asst. FRExaminer, salary increased 'LLPfstuhl, Edward F., appointment as assistant examiner on temporary basis and salary approved Lang A hirthur H., FRExaminer, salary increased Lassen,Lv W. B., Asst. FRExaminer, salary increased ter, Elmer W., appointment as assistant examiner and salaryapproved Mast ers, Robert C., appointment as FRExaminer and salary approved, to be reimbursed for cost of moving household goods from Boston to "Washington McGem Earle, Asst. FRExaminer, salary increased miar,,AAPointment as FRExaminer and salary increase approved Gordon R., Examiner in charge of Road Force, salary increased Noel1, J. C., salary not to be increased in conformity with Federal Employees Salary Act of 1948 Hae —rct, Philip C., appointment as Assistant FRExaminer and salary approved j R., salary increased Radford . f„, Scha -"Lier, Lloyd M., Assistant FRExaminer, appointment and salary approved Sehopnl, m7,71°If, R. J., Asst. FRExaminer, salary increased Iw signation accepted 9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/25 1038 10/27 1825 27 1/8 1/23 111 3/4 5/27 4/16 303 869 594 12/2 2028 2/19 236 7/7 1093 7/20 1/8 1135 27 65 1/14 2028 12/2 9/2 1424 7/7 9/2 5/27 1093 1424 869 3/11 350 11/12 9/2 12/2 1892 1424 2028 6/25 1049 6/25 1038 10/27 4/16 1826 594 4/26 1/8 652 27 3/15 365 138 Pages Examiners, Sloan, Smith, Smith, Smith, Board of Governors: (continued) 12/2 George S., salary increased 4/16 Carl A., Asst. FRExaminer, salary increased 4/16 J. C., salary increased William D., FRExaminer, appointment made permanent 6/25 and salary increased 1/8 Thompson A. N., FRExaminer, salary increased Transconnection with in account Additional payment on 5/7 america investigation approved Wilkes, M. R.) services available for examination of National 1/23 Bank of Haiti To be in charge of examination of National Bank of Haiti ' 3/4 and advance of funds approved 4/16 Salary increased Williams,l 4/16 Geo., Asst. FRExaminer, salary increased accepted Resignation ,. 1: 425 4 Williams, Jay W., Assistant FRExaminer, salary increased 9/2 tztiljiclek, Louis W., Asst. FRExaminer, salary increased ers, Federal Deposit Insurance Corporation: ' cver, Eugene R., Supervising Examiner, transfer to Eighth 2/12 District, with headquarters in Chicago txami-__ uers) FRBank of Atlanta: t Brett, Hugh Anthony, appointment as assistant examiner 7/20 7/15 La'ins, William Theodore, appointment as assistant examiner 1/5 Levings Waddell, appointment as assistant examiner c)uleY, Thomas High, appointment as examiner approved, 7/16 ExEimin formerly assistant examiner ers) FRBank of Boston: _Aubrey, Lee .-T 9/15 assistant examiner •, designation as special litler, Edward A., designation as special assistant examiner 9/15 9/15 aPP, Robert V., designation as special assistant examiner fell, Arthur C., designation as special assistant examiner 9/15 n ''''ins, William Clifford, appointment as assistant examiner 5/21 nadi 2/10 u eY, Yarren K., appointment as assistant examiner examiner .4)5rle) Luther Milton, appointment as assistant additional information re indebtedness re12/17 quested 9/15 examiner assistant it e James R., designation as special examiner 11/18 La„errY, John Francis, appointment as assistant 9/15 Li ngan, John 11., designation as special assistant examiner m;' 1) Oscar W., appointment as assistant examiner 2/10 assistant examart/IY, Daniel P., designation as special 9/15 iner McNally assistant examspecial , , Vincent T., designation as 9/15 iner MontRo assistant special as --merY, Thomas S., designation 9/15 examiner 14ulde mur_ r) Gilles C., designation as special assistant examiner 9/15 ")Robert J., designation as special assistant examiner 9/15 Nic 9/15 Itre'l) James A., designation as special assistant examiner 7/21 assistant examiner as appointment Campbell, 0IBLLoring 'en) Joseph E., designation as special assistant examiner 9/15 2028 594 594 1049 27 739 111 303 594 594 692 1049 1424 e T ef t http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 171 1137 1121 8 1126 1507 1507 1507 1507 826 163 2153 1507 1940 1507 163 1507 1507 1507 1507 1507 1507 1141 1507 139 Pages E • xamaxers, FRBank of Boston: (continued) Phelps, William D., designation as special assistant examiner 9/15 Restarick, Phyllis, designation as special assistant examiner 9/15 Ripley, Ira L., designation as special assistant examiner 9/15 Aisch, Siegfried, designation as special assistant examiner 9/15 Roche, Edwin P., designation as special assistant examiner 9/15 Schultz, H. Albert, designation as special assistant examiner 9/15 9/15 John T., designation as special assistant examiner 9/15 Shorten, John J., designation as special assistant examiner Thompson, George L., designation as special assistant examiner 9/15 Woodward, Raeburn 0., designation as special assistant 9/15 examiner 4441.1.uers, FRBank of Chicago: Beaulpait, 4/14 Wm. F., designation as special assistant examinr Bentz, 11/9 examiner assistant special as designation George, Chr, —"elik, James J., designation as special assistant examiner 11/9 1, Clark, 11/9 . , , Clifford, designation as special assistant examiner Coll. --ins Michael T., designation as special assistant examiner11/9 Egel - 1 ' 11/9 , -ano, John, designation as special assistant examiner ronert, William C., designation as special assistant examiner 2/25 zGustayson, A. M., designated FRExaminer to participate in 2/19 examination of National Bank of Haiti HaYes, Hugh P., designation as special assistant examiner 4/14 6/9 Designation as special assistant examiner approved u cobson, Nils S., appointment as examiner approved, 4/5 formerly assistant examiner JOne 11/9 ,,, s, Merton, designation as special assistant examiner "c'elting, Harold L., appointment as examiner, formerly 4/5 assistant examiner Sch • 11/9 reiber, Frank, designation as special assistant examiner ae , Carl F., Jr., appointment as assistant examiner 5/4 ;Pth van Zante, C. Paul, Chief Examiner, officer status and 3/31 salary approved Veber, 4/14 Robert J., designation as special assistant examiner 5/3 Designation as special assistant examiner 9/23 zal APPointment as assistant examiner 11/9 eski, Peter, designation as special assistant examiner Beers, FRBank of Cleveland: 1/14 Be, 1;44ardY, C. M., designation as special assistant examiner 11/4 Jack Eugene, appointment as assistant examiner 4/23 " , H. M., Chief Examiner, salary ao officer approved co 1)2(, Chris, designation as special assistant examiner 1/14 Robert Lee, appointment as examiner approved, formerly 9/20 assistant examiner Ginn. assistant 12/7 examiner Hat -ne, Richard Joseph, appointment as 1/14 H01.7°x, George, designation as special assistant examiner Kau'? Carl E., appointment as assistant examiner 3/15 assistant 3/15 xi examiner appointment as William Floyd, Ni l stuhl, E. F., designation as special assistant examiner 1/14 hois , James H., appointment as examiner approved, formerly 6/29 assistant examiner http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1507 1507 1507 1507 1507 1507 1507 1507 1507 1507 585 1882 1882 1882 1882 253 240 585 927 534 1882 534 1882 700 493 585 698 1603 1882 66 1852 639 66 1537 2084 66 365 366 66 1059 140 Pages E • xanumers, FRBank of Cleveland: (continued) 10/6 Schiering, Harry Clavin, appointment as assistant examiner b_aTerpening, Kenneth J., appointment as assistant examiner 1/15 Miners, FRBank of Dallas: Allen, / 6/18 1 211. C., designation as special assistant examiner 3/29 Bertram, R. T., designation as special assistant examiner Blake, John C., designation as special assistant examiner 7/15 Childers, Charles L., designation as special assistant exam7/15 iner 9/9 Appointment as assistant examiner Couch, James D., designation as special assistant examiner 8 1(/ ) e) /1 ennis, George, designation as special assistant examiner Gore, Charles Arthur, appointment as examiner approved, ' 3/23 formerly assistant examiner 1 /!cuse, 10/1 James N., designation as special assistant examiner 8/11 IllseY, Moss 71ma, Jr., appointment as examiner ..!4111e,Y, R. W., designation as special assistant examiner 3/29 walker, Orval, name removed from list of special assistant 6/18 examiners Wlki i txcLird. ns, Gordon M., designation as special assistant examiner 6/18 B el"-3$ FRBank of Kansas City: 1/13 .„'air, John N., designation as special assistant examiner rYette, D. R., designation as special assistant examiner 1/13 t‘eithley, Vern A., Jr., designation as special assistant 1/13 examiner Maj 3/16 °r$ F. Lee, Jr., appointment as assistant examiner McCarty, 1/13 e9,artY, E. A., designation as special assistant examiner 'Lcuormick, Robert R., designation as special assistant 1/13 examiner Mill 6/16 Examin 8, L. F., Chief Examiner, salary approved Blers$ FRBank of Minneapolis: 5/11 D oomquist, Cyrus C., appointment as assistant examiner reitzler, Ralph J., designation as special assistant 11/3 examiner Foss, 4/8 , Kyle K., designation as special assistant examiner 12/1 Gr4.Appointment as assistant examiner 9/14 ' 31 h, C. V., designation as special examiner J01 5/11 examiner assistant 11s°n$ Robert C., appointment as 14 , of termination examiner, C. J., special assistant 9/14 designation noted Staph 3/1 examiner assistant vo_ er$ Stanley A., appointment as yellers for expenses during assistante in examination txEL41ine 6/11 of Seattle and Portland Branches, approved 00,1s, FRBank of New York: pr"' L aeleers, Charles R., appointment as assistant examiner 6/24 6/24 Ga7,/ Frederick L., appointment as examiner Re 'inkel, Joseph, appointment as examiner 6/24 6/24 metlessiY, Edward J., appointment as assistant examiner 6/24 ' me,r er) Kenneth B., appointment as assistant examiner 4er, Harry J., appointment as examiner to participate 10/26 in examination of Chase Bank, New York http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1710 69 974 474 1121 1121 1472 1666 431 1666 1267 474 974 974 60 60 60 370 60 60 958 754 1844 560 2007 1505 754 1505 289 947 1019 1019 1019 1019 1019 1816 • Examiners, FRBank of New York: (continued) 11/24 Mittricker, Franklin F., appointment as assistant examiner Mulvey, James P., designation as special assistant examiner 6/24 Obermayer, Charles J., designation as special assistant 11/24 examiner Pierce, John F., appointment as examiner 6/24 ohackleton, William E., appointment as examiner 6/24 Sheehan, W. F./ Chief Examiner, salary approved 4/7 txa_. 7/23 Salary approved naners, FRBank of Philadelphia: Agnew, James A., Jr., designation as special assistant 11/19 examiner Brennen, Francis A., designation as special assistant exam11/19 iner Brusch, James F., designation as special assistant examiner 9/23 a'gr102 Victor S., designation as special assistant examiner 11/19 Cortez, Fabian 0., designation as special assistant examiner 11/19 rlortel Samuel G., designation as special assistant examiner 11/19 galunas, Stanley J., appointment as assistant examiner 9/24 eri°n, Matthew J., Jr., designation as special assistant 11/19 examiner Roil , - enshead, David S., designation as special assistant 9/23 examiner 11/19 Paul E., designation as special assistant examiner Lee, 9/23 William M., designation as special assistant examiner Mackey, Wm. O., Jr., designation as special assistant 11/19 exRminer McDonald, m onald, John J., designation as special assistant examiner 11/19 an, Vincent J., designation as special assistant examiner 11/19 pontz, James H., designation as special assistant examiner 11/19 Plawski, Edwin J., designation as special assistant 11/19 examiner Reiter er, Stanley W., designation as special assistant examiner11/19 „en Tr Jeremiah P., designation as special assistant examiner 9/23 lqa"Yrlor, James R., designation as special assistant examiner 11/19 Charles H., Jr., appointment as assistant examiner EXam 8/19 approved -,ner 134,2) FRBank of Richmond: ' 4 of Phoebus, Virginia, to appear as witnesses to testify at trial concerning 3/25 Benn„., 2/20 Edward L., appointment as assistant examiner Appointment as examiner 12/24 c;uoks, jack 9/23 m., designation as special assistant examiner eerY, Presley T., appointment as examiner, formerly 9/10 assistant examiner R1141.-orth, Jesse Harold, appointment as assistant examiner 7/30 jen,rr, Thomas L., Jr., appointment as assistant examiner 10/25 3/15 Mci::ings, Percy Wray, appointment as assistant examiner -", Ernest C., Jr., designation as special assistant 8/25 examiner Mill Miller, Robert L., appointment as examiner approved, 5/27 formerly assistant examiner V Z http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 141 Pages 1973 1019 1973 1019 1019 550 1159 1945 1945 1603 1945 1945 1945 1616 1945 1603 1945 1603 1945 1945 1945 1945 1945 1945 1603 1945 1335 44.7 246 2199 1603 1488 1183 1811 366 1382 873 142 EXami, FRBank of Richmond: (continued) U. Howard, salary below minimum approved for six 7/9 months Paxton, L. Harold, designation as special assistant examiner 7/20 Scott, Harold M., designation as special assistant examiner 7/20 Snead, G. Harold, Assistant Chief Examiner, designated FRExaminer to participate in examination of 2/19 National Bank of Haiti Ex 341-14erb, FRBank of St. Louis: Extoplger, Thomas L., designation as special assistant examiner ]1/26 ±ners, FRBank of San Francisco: 8/31 .ckmore, James Grant, appointment as examiner `rlascock, Robert Paul, appointment as assistant examiner; no objection to indebtedness to San Francisco 4/21 Bank Godfrey, -rey, John W., designation as special assistant examiner 10/25 aan 7/1 Ben, V. V., designation as special assistant examiner Liam 6/4 Di °rip Myron J., appointment as assistant examiner ,,eron, E. A., designation as special assistant examiner 12/23 8/26 L4.1:sen, LeRoy, appointment as assistant examiner 3-1111, M. E., designation as special assistant examiner 12/23 McFarland, D. C., designation as special assistant examiner 7/1 err, Franklin, appointment as examiner approved, obligation to Bank of America N. T. & S. A. to be trans12/9 to non-bank holder ferred Rata 7/1 E. M., designation as special assistant examiner 4411a„- el A ers, FRBanks: 12/3 of, procedure approved Classification of assistant examiners under Fair Labor Standards Act, Counsel's Office to take up with Wage and Hour Division on behalf 2/19 of FRBanks which had requested it Question of presentation of matter to Wages and Hours Division, discussion at Presidents Conference 2/27 Discussion of views of FRBanks re taking matter up with Wages and Hours Division, letter to FRBanks to be prepared stating that Banks should abide by ruling of local office of Wages and Hours Division 3/5 Matter not to be taken into courts, Banks to abide by ruling of local office of Wages and Hours Divi3/22 sion, advice to FEBanks Conf erences. Trust examiners, to be held at FRBank of New York in 1/8 February Trust examiners to be held in New York on February 5, 6, 1/12 and 7, advice to FRBanks nee, discussion in connection with consideration of 12/6 budget Sentur examining staff, changes in, to be discussed with Board before action, matter to he placed on agenda for next meeting of Presidents Conference 8/24 V http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pages 1100 1136 1136 240 1983 1411 616 1812 1070 900 2194 1391 2194 1070 2094 1070 2040 240 285 308 399 31 57 2053 1365 143 Pages Ex aminers, FRBanks: (continued) Senior examining staff, changes in; (continued) Discussion of changes with Board, letter to Mr. Davis, Chairman of Presidents Conference, not to be sent, further action to be deferred E. l FRBranch banks: C incinnati: Biermann, John, Jr., designation as special assistant examiner Dieringer, Lester, designation as special assistant exnminer Marsh, Howard, designation as special assistant examiner Miller, Clifford, designation as special assistant examiner Oettinger, R. P., designation as special assistant examiner Palmer, Cletus, designation as special assistant examiner Detroit: 8/31 1406 1/14 66 1/14 66 1/14 66 1/14 66 1/14 66 1/14 66 Cunningham, C. 0., designation as special assistant 1/26 examiner Foley, D. R., Jr., designation as special assistant 1/26 examiner Heika,1/26 K. O., designation as special assistant examiner Mitchell, R. A., designation as special assistant 1/26 examiner Nordbeck, W. C., designation as special assistant 1/26 examiner Jacksonville: Hicks, V. Lester, designation as special assistant 10/21 examiner Thomas, J. Ernest, designation as special assistant examiner 10/21 Los Angeles: Carter, W. E., designation as special assistant examiner 12/23 Hale, T. S., designation as special assistant examiner 12/23 °a1cleY, H. C., designation as special assistant examiner 12/23 New Orleans: Dastugue, M. F., designation as special assistant examiner 5/5 Pittsburgh: Allshouse, R. K., designation as special assistant examiner Heuer, 0. N., designation as special assistant examiner Powell, C. A., designation as special assistant examiner P°Itlanci. Frandsen, J. E., designation as special assistant examiner http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 114 114 114 114 114 1795 1795 2194 2194 2194 704 1/14 66 66 1/14 66 12/23 2194 1/14 441111ners, FRBranch banks: (continued) Portland: (continued) n, C. V., designation as special assistant examiner 12/23 SeatItItlia Case, G. T., designation as special assistant examiner 12/23 Jorgensen, A. K., designation as special assistant 12/23 examiner Kind, W. A., designation as special assistant examiner 12/23 Merritt, A. B., designation as special assistant 7/1 examiner Reightley, D. F., designation as special assistant 12/23 examiner Strang, I. A., designation as special assistant 7/1 examiner Underhill, D. F., designation as special assistant 12/23 examiner White, J. V., designation as special assistant examiner 7/1 Wood, W. D. designation as special assistant examiner 12/23 ';2te from minutes of Board: ' 17illsamerica Corporation, conference with Comptroller, 8/24 copies to be sent to absent Board members 4ee15 11-itive officers: altInding, William Cornell, Vice President and Director of Lincoln National Bank and Trust Company, Syracuse, New York, and also member of Executive Committee of bank, determined to be under 10/11 Regulation 0 ch-ve orders: p0;1!tmas Eve, one-half day holiday to be granted on 12/13 e-Lgn funds control, transfer of jurisdiction to Attorney General, statement to be published in 9/30 FRBulletin liegulations governing the furnishing of statistical information to public international organizations, as amended at NAC staff meeting on August 25, no objection to proposed, advice to Bureau 8/31 of the Budget 9835 'EmPloyees Loyalty Program, procedure adopted 1/6 ...es: 144 Pages 2194 2194 2194 2194 1070 2194 1070 2194 1070 2194 1371 1735 2111 1647 1415 20 1,3 4 4 of Governors: ' Foreign missions, expenses and salaries of members of staff on, discussion in connection with request for services of Mr. Grove to assist in setting up Philippine Central Bank I'll/a State College, grant for conference on monetary and fiscal aspects of inflation problem approved, budget of Division of Research and Statistics to be increased to cover Purchase of equipment for serving luncheons in Board members' offices approved Rentals of office mechanical equipment and business machines, information re sent to Mr. Robert E. Lee, Chief, Investigative Staff, House Committee on Appropriations http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9/21 1541 4/23 629 3/5 327 9/22 1593 145 Pages 4Penses: (continued) Board of Governors: (continued) Retirement system, revision, Division of Administrative Services authorized to pay necessary costs of 3/23 Lump sum payment to cover costs of revision of Board plan 5/27 Savings bond sales manual, additional payment for publication approved 4/26 Transamerica Corporation case, Mr. Evans authorized to incur such expenses as necessary in connec12/6 tion with Co nference, Chairmen, meeting at White Sulphur Springs, 5/25 payment authorized FRBank of Dallas: Consumer credit operations for 1948 12/6 111Banks: Banking schools, attendance, payment of dormitory and dining hall charges approved, discussion at 5/21 Presidents Conference Fiscal agency, absorption of reimbursable upon request of Treasury, procedure to be followed, 11/8 advice to FRBanks Maps showing FRDistricts and branch territories, purchase by FRBanks approved, copies to be furnished to member and nonmember banks 3/31 Printing presses, purchase from Bureau of Engraving and Printing to increase production of FRnotes and Treasury currency, views of 10/8 FRBanks requested 10/29 Assessment for purchase, advice to FRBanks U• S. Savings Bond campaign, FRBank of Philadelphia to pay cost of printing copies of address by Mr. Williams for distribution by Treasury in 10/19 Savings bond campaign, payment of cost of one dinner in each district approved in connection with, 12/1 discussion at Presidents Conference “44 billS , value of information released by FRBank of New PA 7/20 York to exporters, letter from Mr. Richards -egrbe, --"" B., Director and Counsel, Northwest Bancorporation, nk present at meeting to discuss proposed Pkir company legislation holdi bang 9/10 j041hPnl_eyruent Board: 5°11, Herbert A., to continue service as Fair Employment P41 11/10 Officer, advice to eta itis Standards Act: slfication of assistant examiners, Counsel's Office to take up with Wage and Hour Division on behalf 2/19 of FRBanks which had requested it Question of presentation of matter to Wages and Hours Division, discussion at Presidents Conference 2/27 Di scussion of views of FRBanks re taking matter up with Wages and Hours Division, letter to FRBanks to be prepared stating that Banks should abide by ruling of local office of Wages & Hours DiviAinn3/5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 406 866 655 2060 839 2067 816 1869 494 1721 1834 1784 2022 1138 1484 1886 240 285 308 146 Pages hir Labor Standards Act: (continued) Classification of assistant examiners: (continued) Matter not to be taken into courts, Banks to abide by ruling of local offices of Wages and Hours Division, advice to FRBanks 3/22 4444 Credit Administration: Regulation WI to cooperate with Board in enforcement of new, arrangements for conference at Board to be made in future 8/17 Pede'al Advisory Council: ABA program for restraint of credit expansion, discussion 2/17 of pilot meetings Bank capital, adequacy under existing conditions, question considered by Board not mentioned at meeting because of lateness of hour 2/17 Bank holding company bill, present status, FAC to consider sending resolution in favor of, to banking and currency committees and to Senator Taft 2/17 Bank holding company legislation,question of representation at meeting to discuss 7/6 Resolutions approving enactment of S.829 with amendments, position of Council reaffirmed, discussion of 9/21 conferences being held at Board Boair.,4 41/44 Of Governors to formulate monetary policy and banks to be free to criticize System, view of 11/16 Brolgn, President E. E., statement re monetary policy, including increase in reserve requirements, policy of supporting Government security market, and question of raising gold reserve requirements 9/21 BlIrge 88 Randolph, statement re sales of securities by insurance companies, increase in reserve requirements, and support of market at par or slightly below, discussion at meeting with 9/21 Board Cheek collection procedures, immediate credit for all cash items and elimination of sorting transit items by reserve districts and direct sendings to FRBanks, no decision to be reached before canvassing all FRBanks 4/27 credit, legislation to restore controls, opposition to, FRBanks to be requested to urge retail stores to adopt more conservative 2/17 terms instalment sales credit, suggestion that FRBanks request retailers to follow conservative Corisuraer 2/19 policies, not considered necessary credit regulation, regulations well received, discussion of enforcement, permanent authority Corp 9/21 not favored by °rate profits, discussion of Board's statement 9/21 399 1291 210 217 215 1085 1585 1919 1565 1573 e"sunier 657 c°4sianier 214 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 225 1582 1571 147 Pages Nieral Advisory Council: (continued) Credit control, statement re effect of increases in redis9/21 count and certificate rates Credit policies, statement re measures to combat inflation, 2/17 discussion at meeting with Board Debt, FRBank and banks, use of surplus from tax receipts by 2/17 Treasury to redeem, recommendation discussed Discount rates, no forther increase at present, recommenda2/17 discussed Executive comitt::: m Brown, E. E., appointment as member 2/17 2/17 Burgess, W. Randolph, appointment as member 2/17 Fleming, Robert V., appointment as member McCoy, John H., appointment as member 2/17 Requested to give Board benefit of views on developments 4/27 2/17 Spencer, Charles E., appointment as member Williams, David E., appointment as member 2/17 ureign deposits in United States, proposal by National Advisory Council in statement to Senator Vandenberg, opposition to, discussion at 2/17 Goldmeeting with Board Policy of FRSystem and Treasury, exports and imports, problem to be considered from time to time but Treasury control not to be relinquished 9/21 entirely, discussion at meeting with Board Gold Policy, memorandum entitled Notes on Present United States Gold Policy prepared by Division of Research and Statistics, to be handed to 11/15 Goldmembers of reserves, increase favored but decision to be deferred 9/21 until organization of Congress in 1949 Cove rnment securities, longer term to be supported at par, 2/17 recommendation discussed S ecurities to be offered by Treasury for refunding or for new money, recommendation as to types, discussion of sale of El F, and G bonds and of rates on bills and certificates 4/27 Deelin—e in sales by insurance companies, discussion of 11/16 reasons for Sale by insurance companies, monthly letter of National 11/16 GoerCity Bank, New York, re R00,nlent security market, support of, statement re 9/21 Commission report, study on FRBoard by Mr. Bach pre11/16 pared for, statement re points objected to 11. 27 resolution opposing proposed amendment, copies 5/21 sent to Messrs. Tobey, Wiggins, and Hanl Rou:::-Ilg credit, Council in agreement with Board on matter 2/17 J-ng legislation, 5.866, resolution sent to Senate and House Banking and Currency Committees 5/7 i°n, means in monetary and credit field to counteract pressures that might be created by new defense proposals, Council opposed to increase in reserve requirements, discussion and views of all presented members 4/27 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1563 198 198 198 193 193 193 193 677 193 193 • 193 1581 1901 1563 198 659 1910 1914 1563 1916 828 210 739 661 148 Pages Federal Advisory Council: (continued) Inflation, means in monetary and credit field: (continued) Discussion of part played by banks in credit field General statement re Information requested by large depositors as to condition of depository banks, views requested on Discussion of, question of making information part of condition reports to be placed on agenda for consideration at next meeting Insurance companies, sale of Government securities to make loans, statement and discussion re Sale of Government securities to make loans, discussion of Leg islation to authorize Federal Home Loan Banks to borrow from Treasury, question of taking up with Loa ns, question of credit risks involved in certain areas, statement re, no comment by Board . tlee4t .ing with Board Wel'ings, next to be held on April 25-27 : elsing with Board ;Ieetings, next to be held on September 19-21 meeting with Board mnings, 14-16 Mee' next to be held on November discussion of legislative matwith Board, informal report to be held Commission ters in Hoover procedure instead of usual Meeti -Ags, next to be held on February 13-15, 1949 riembers:- 11/16 1910 9/21 1563 2/16 189 2/17 213 9/21 1563 9/21 1570 12/7 2/17 213 192 2/17 2/17 216 656 4/27 4/27 677 9/21 1562 9/21 1589 11/16 1906 11/16 1921 Brown, E. E., appointment as President 2/17 Burgess, Randolph, reply to Mr. McCabe's request for 4/27 views re credit controls Robert V., appointment as Second Vice President 2/17 MemooPencer, Charles E., appointment as First Vice President 2/17 ndum of subjects submitted by FAC discussed by Board, views to be stated by Chairman Eccles at joint 2/16 meeting views on subjects submitted to be stated by Chairman 4/26 McCabe at joint meeting Draft of statement of first five topics to be prepared by Messrs. Riefler, Thomas, and Young for consideration at Board meeting prior to joint meeting, Chairman McCabe to state views re 9/20 Mc)netaother topics ry policy, discussion at meeting with Board 9/21 toard's response to Council's statement re gold reserves, credit control, increase in reserve requirements, and support of Government security 9/21 market National electicns, change in situation and business sentiment caused by outcome, statement made by 11/16 President Brown http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2071 192 672 192 192 188 649 1530 1563 1567 1907 149 Pages leclerai Advisory Council: (continued) Real estate financing, resolution to send to Congress requested by Mr. Szymczak, Council to 4/27 677 meet for further consideration of matter Reserve requirements, additional power not to be asked by 2/17 198 Board, recommendation discussed Reserve requirements of central reserve city banks, increase of 2 per cent not to be withdrawn, recommenda198 2/17 tion discussed Not to be increased, recommendation discussed 2/17 198 Effect of increase, statement and discussion at meeting 9/21 1563 with Board, FAC not in favor of Increase for member banks, disliked by, statement at 11/16 1908 meeting with Board Reserves, special reserve plan, adoption not to be urged, statement of Chairman Eccles at meeting with 212 2/17 Board Say lng,E bonds, special effort by Treasury to sell, recommenda198 2/17 tion of Council discussed ' S 829, bank holding company bill, resolution favoring enactment approved, copies to be sent to Chairmen and members of Senate and House Banking and Currency Committees and to 2/19 235 Senator Taft Lichtenstein, Walter, appointment as Secretary 2/17 4/27 Resignation as Secretary accepted Prochnow, Herbert V., appointment as Associate Secretary 2/17 4/27 Elected Secretary State of Union and budget message of President, committee to submit recommendations re legislation, 11/16 executive committee to consider matter Statement of Board in response to statement of FAC, draft 9/21 discussed and approved 5lIPP°11L of Government security market, no change in present policy, consensus of executive 9/21 committee of FOMC Toll; Top discussion: ABA program for restricting credit, measures being 2/2' taken and results Bank -.. capital, adequacy of, to be suggested for considera2/13 tion at May meeting To be placed on agenda for next meeting 2/17 Bank holding company legislation, views to be requested 9/10 at next meeting Condition of banks, information requested by large 2/6 depositors Credit, • effectiveness of policies of restraint and 8/18 recommendations for further action Dis count rates, further increase 2/2 Hoover Commission report, views of Board to be pre11/15 sented by Chairman McCabe http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 192 656 192 656 1920 1539 1569 141 182 217 1493 154 1324 141 1900 150 Pages era Advisory Council: (continued) Topics for discussion: (continued) Inflation, means in monetary and credit field to counteract Informaticn requested by large depositors, question of making part of condition reports List for meeting on February 15 and 16, draft to be prepared List of items to be placed on agenda for meeting on February 15-17 List for meeting on November 14-16 not to be submitted by Board List not to be submitted for next meeting, informal discussion of questions re Hoover Commission report to be held Loans, areas involving greater credit risks than in period since war Memorandum of subjects submitted discussed by Board, views to be stated by Chairman McCabe at joint meeting National Monetary Commission, views of Board to be presented by Chairman McCabe Procedure for submission, to be continued except for meeting on November 16, 1948 Reserves, measures to restrict use for further expansion of bank credit Proposal to restore ratio of required gold certificate reserves of 40 per cent against FRnotes and 35 per cent against FRBank deposits Securities to be offered by Treasury for refunding or br new money, System recommendation as to types State of Union message of President and legislative program, request for material, views of Board to be presented by Chairman McCabe Tvo matters left over from previous meeting, not to be referred to by Board unless brought up by FAC Vien,„ on credit controls requested by Mr. McCabe before PNer testimony before Congress T 41 Bureau of Investigation: 44°41tY checks: Baran, Paul Alexander, economist at FRBank of New York, Peri information requested -era) 0 Credit Unions: ' pikler:°Peration in enforcement of Regulatien VT, letter to Mr. C. R. Orchard requesting 1D •ePosit Insurance Corporation: -1.1can State Bank, Lubbock, Texas, certification as member of PRSystem http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4/7 548 2/17 213 1/23 109 2/2 140 11/5 1854 11/15 1899 2/2 141 4/26 649 11/15 1899 11/15 1900 2/2 8/18 4/7 11/15 140 1324 548 1900 4/7 549 4/27 672 5/11 754 9/17 1526 5/25 847 151 Pages eder8-1 Deposit Insurance Corporation: (continued) Antitrust proceeding against Transamerica Corporation, 5/26 letter of advice of action to be sent to Audit of certified statements submitted for assessment purposes by insured banks, experimental program to be extended to Ohio and 4/15 Pennsylvania Experimental program to be extended to Tennessee, 12/21 advice to FFBanks of Atlanta and St. Louis Bant, -- Capital: The Problem Restated, by Messrs. Tynan Smith and Raymond E. Hengren, reply to Mr. Hanl 2/13 re use of capital to total assets ratio Ba,,ip -A- holding company legislation, Mr. McCabe to advise 7/6 Chairman of meeting to discuss Statement to Federal Advisory Council that Board did . 9/21 not have support of Bank of America N. T. & S. A., application to establish branches at Bremen, Frankfurt-am-Main, and Hamburg, Germany, conference of Messrs. Clayton and Townsend with, comments re authorization in light of capital position 8/31 and policies of bank to be requested APplications for establishment of branches at Bremen, Frankfurt-am-Main, and Hamburg, Germany, pertinent comments requested from 9/3 APplication to establish branches in Germany, no response 11/16 to letter on opening of APplication to establish branch in Bangkok, Siam, let11/16 ter on proposed branch to be prepared telv , Advice concerning reasons for rejecticn requested 11/30 laere State Bank, Belviaere, South Dakota, permission granted to examine for continuance of insurance after withdrawal from membership in 7/6 eertifFFSystem icaticn of banks as members of FRSystem: ?TiPire State Bank of Dallas, Texas 9/22 e-rst State Bank, Abilene, Texas 11/22 8/5 ,°Ples State Bank, Artesia, New Mexico commvnion State Bank, Carrizo Springs, Texas 3/25 'ercial State Bank of Melvin, Illinois, permission granted to examine for continuance of insurance after 6/24 withdrawal from membership in FPSystem C°r11ZUn1ty State Bank, Grandville, Michigan, permission granted to examine for continuance of insur6/11 ance after withdrawal from membership e°11dition reports of State member banks, to be available for confidential use of ABA in compilation of Corive agricultural loans and farm real estate loans 1/21 l 'sion of national banks into or consolidation with State banks, legislation re, views of Board 12/23 discussed by Mr. Clayton with Mr. Hanl V http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 855 586 2173 184 1086 1589 1408 1439 1923 1924 1998 1089 1592 1954 1233 447 1021 941 97 2193 152 Pages Federal-L Deposit Insurance Corporation: (continued) Credit expansion, ABA. program for voluntary restraint, to 1/9 participate in meetings E. G. Young & Company Bank, Oakland, Oregon, permission granted to examine for continuance of insur5/6 ance after withdrawal from membership bcamination procedure, 1938 agreement, not followed at present by, discussion to be continued by Mr. Clayton at meeting with Messrs. Delano 2/13 and Harl Uniform, Messrs. Hanl and Cook invited to luncheon by 7/6 to discuss • E xamination reports: ll: Mr. Leonard to advise of Board's view in connection with 2/6 request that they be made available to RFG to Merchants Bank of Kansas City, Missouri, information be developed by FRBank of Kansas City 2/12 examiners for capital by Copies of memorandum re loan secured 3/2 notes of Bank of Odessa sent to Gove-1-, Eighth to Eugene R., Supervising Examiner, transfer 2/12 District, with headquarters in Chicago Rome purchase Loan Bank, amendment to authorize Treasury of obligations, discussion of proposed draft, 11/9 matter to be discussed by staff with Home 2799, to make changes in operations of Federal Loan Banking System, views re, Mr. Clayton 5/10 to talk further with to sent Housing legislation, letter opposing provisions 5/18 Senate Banking and Currency Committee 4insley Bank, Kinsley, Kansas, permission granted to examine for continuance of insurance after 4/26 withdrawal from membership in FRSystem 14(3rth Side Bank, Evansville, Indiana, permission granted to examine for continuance of insurance after withdrawal from membership in FRSystem 11/5 PUerto Rico, revision of banking laws, discussions with Dr. Di Venuti to be continued in cooperation 5/27 with Regulation W, to cooperate with Board in enforcement of new 8/17 Enforcement, cooperation requPsted re, copy of Outline 9/16 of Enforcement Program sent to Mr. Hanl Reserve for request support to , legislation s requirement additional authority for Board, applicability to all nonmember banks favored but payment of 12/31 interest on reserve balances opposed St. Jc'e Paper Company, Jacksonville, Florida, copies of 5/25 financial information and use of Sanborn County Bank, Woonsocket, South Dakota, permission granted to FDIC to examine for continuance 2/6 of insurance after withdrawal from FRSystem http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 46 712 181 1086 153 171 294 171 1874 744 792 653 1863 874 1291 1517 2250 846 160 liederal Deposit Insurance Corporation: (continued) S. 2526, to remove limitation upon maximum deposit insured by, Board opTysed to enactment, advice to Senator Tobey 5/4 Board opposed to enactment, advice to Bureau of the 7/2 Budget S. 2817 to amend subsections (s) and (y) of section 12B of 6/18 FRAct, Board opposed to enactment of State Bank of Townsend, Mont., letter on unsatisfactory fidelity insurance coverage, no action until 6/23 after next examination Staunton Industrial Loan Corporation, Staunton, Va., question of eligibility for membership in FRSystem, 6/24 views requested SuPervising Examiner to be invited to assist in investigation of Union State Bank of Carrizo Springs, Texas, 1/5 membership for Time certificate in advertisement of national bank, question of compliance with provisions of Regulation Q re payment of interest on deposits, reply to 5/13 letter Tipton State Bank, Tipton, Iowa, permission granted to FDIC to examine for continuance of insurance after 11/3 withdrawal from FRSystem Transamerica Corporation, institution of antitrust proceeding against, advice of action to be sent to 5/26 Mr. Hanl Letter to Mr. Hanl 5/27 Issuance of complaint and notice of hearing, cooperation indicated by, copy to be sent to 6/23 Chairman ExPansion policy, establishment of domestic branches and 1942 agreement, copies of letter to 8/23 Comptroller sent to Conference to discuss proceeding against to be held 9/10 with Chairman Hanl Conference re proceeding, Messrs. Cook and Oppegard 9/20 present, to cooperate with Board in case -ral me Loan Bank Board: sulation monthly reports not necessary from, advice to 4eral 12/2 FRBank of Cleveland 1011°me Loan Banking System: 2799, to make changes in operations of, revised bill still opposed by Board, Mr. Clayton to discuss matter with FDIC and Treasury officials and find out from Mr. L'Heureux of Senate Banking and Currency Committee whether hearings might be held or whether statements could be filed 5/7 Mr. Clayton to obtain views of Treasury and FDIC re sending letters opposing, Board to send letter to Chairman of Senate Banking and Currency Committee if other letters not to be sent at once 5/10 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 153 Pages 702 1080 976 1017 1021 10 764 146 855 864 992 1361 1480 1533 2031 728 744 154 Pages Nleral Housing Administration: Regulation V', amendment proposed re modernization and repair credits, discussion in connection 10/22 with credits of Nieral National Mortgage Association: Purchase of mortgages by, Board opposed to S. 2790 author6/29 izing Nieral Register: Ninety-ay rule in special cash account, ruling to be published in Federal Register, copies sent to FRBanks 4/23 Regulation D I Reserves of Member Banks, amendment to increase reserve requirements of central reserve city 1/23 banks approved Amendment to supplement to increase reserve requirements of member banks in central reserve cities, 6/1 statement for publication in Amendment to Regulation and to Supplement to increase reserve requirements of member banks, statement 9/8 sent to Regulation H, amendment approved, but no statement of notice 8/3 to be published in, advice to Regulation J, proposed amendments to authorize procedure for conditional payment of checks and delayed return of unpaid items, notice of proposal to adopt to be published in Federal Register, 4/7 copies sent to FRBanks, comments requested Amendments re delayed return of unpaid items adopted, 11/24 statement sent to . Re gulations T and U, amendments to permit substitutions in undermargined accounts approved, statement 3/5 for Regulation W, Consumer Instalment Credit, statement re issuance and two proposed amendments for 8/17 publication in 9/23 : alma/7 of interpretations sent to 4mendment No. 1, Delivery in Anticipation of Instalment 10/27 Sale, adopted, statement sent to Amendment No. 2 re exemption of articles selling for $50 or more only because of inclusion of 12/17 sales tax approved, statement for Re8erVe and central reserve cities, classification and continuance of, statement to be published in, 2/20 advice to FRBanks SI*Ertitutions in undermargined accounts under recent amendment to Regulation T, ruling to be published 3/26 In, advice to FRBanks et: erim4 'nal provisions of banking laws, repealed but re-enacted 8/19 in new Criminal Code 'nal Code, amendments to, statement to be published in 8/26 FRBulletin http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1799 1060 643 108 889 1466 1215 556 1975 317 1312 1607 1821 2155 248 459 1335 1392 155 Pages 1lAct: (continued) See. 24, amendment included in S. 2287 to amend Reconstruction Finance Corporation Act 4/5 8. 2817, to amend subsections (s) and (y) of section 12B, Board not in favor of enactment, report to Chairman Tobey of Senate Banking and Currency 6/18 Committee PRAve -10 nbs, Assistant: Al lendoerfer, Maurice, FRBank of Kansas City, salary approved 1/5 6/28 Salary approved Anderson, Morris G., Alternate at FRBank of Minneapolis, 5/3 salary approved Appointment of, procedure approved 12/3 Armstrong, James K., Alternate at FRBank of Cleveland, 3/3 appointment and salary approved Barnett, Mr. Genevieve M., Alternate at FRBank of Atlanta, 7/1 salary approved --er, Elwood J., Alternate at FRBank of Philadelphia, 10/6 salary approved Burr, Glendon M., Alternate at FRBank of Philadelphia 10/6 salary approved Far Joseph H. P., Alternate at FRBank of New York, 12/10 salary approved Fricek, Elmer F., Alternate at FRBank of Cleveland, salary 9P9 approved Gahm ---n, E. H., Alternate at FRBank of San Francisco, salary 6/28 approved R Salary 12/1 approved alia"d, Olin V., Alternate at FRBank of Atlanta, appoint1/5 ment and salary approved ----°n, Beverley P., Alternate at FRBank of Richmond, 6/16 salary approved Hob,-1ft Edward H., Alternate at FRBank of St. Louis, salary 7/27 approved appointYork, New of FRBank Lister, Gerard R., Alternate at 2/6 ment and salary approved 12/10 Salary approved m_ Salary approved 12/30 ,lvoney, John F., Alternate at FRBank of Boston, salary 7/7 approved 12/30 mo Salary approved rrissey, Clifford, Alternate at FRBank of Boston, 7/7 salary approved 12/30 ? Salary approved 7/27 pl,'er, Frank S., FRBank of St. Louis, salary approved Ice, salary Dallas, of FRBank Edward, Alternate at 7/1 approved 10/6 it :,11, 8s J. Frank, FRBank of Philadelphia, salary approved it Ik-0.14;, Edna K., Alternate at FRBank of New York, salary 12/10 approved 12/30 Salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 538 976 8 1054 698 2040 300 1068 1710 1710 2102 1639 1055 2007 7 957 1170 159 2102 2241 1094 2240 1094 2240 1170 1069 1710 2102 2241 156 Pages IINAnts, Assistant: (continued) Scanlon, Charles J., Alternate at FRBank of Chicago, salary approved Schelling, Carl, FRBank of Chicago, salary approved Self) Kenneth B., Alternate at FRBank of Kansas City, salary approved Salary approved Shepherd, Robert L., FRBank of Richmond, salary approved .Salary approved Stone) P. M., FRBank of San Francisco, salary approved StoYle, Lewis E., Alternate at FRBank of Boston, salary approved Salary approved Stryker, Jere V. D., FRBank of Feu York, salary approved Salary approved Thompson, George E., Jr., Alternate at FRBank of Richmond, salary approved Zehner, Edward A., Alternate at FRBank of St. Louis, salary approved Agents; 6/21 6/21 979 979 1/5 6/28 6/16 12/10 12/1 8 1054 957 2103 2007 7/7 1094 12/30 2240 12/10 2102 12/30 2241 6/16 957 5/19 800 Avery, Clarence W., not able to continue as Chairman at Chicago Letter of appreciation for services as reappointment not to be accepted Bra4 n 41ard, George C., FRBank of Cleveland, redesignation '64 , , 1111gell, Robert B., FRBank of Kansas City, redesignation b; e-Lghton, Albert M., FRBank of Boston, redesignation Ru la°11t,ssell molla°11t, L., FRBank of St. Louis, redesignation Thomas B., FRBank of Philadelphia, resignation accepted, to become member of Board of Governors MeCorm. lck, Charles P., FRBank of Richmond, designation p87-V, Frank H., FRBank of Atlanta, redesignation 130.111'en, J. R., FRBank of Dallas, redesignation re appointment of full—time to supervise examination of State member banks, suggestion of Mr. Vardaman re return to) recommendation to be submitted by Messrs. Vardaman and Clayton of staff, recommendations for changes to be made by FRAgent, advice to Mr. Neely, FRBank of Atlanta Shena„ Y Roger B., FRBank of Minneapolis, redesignation St4 ens) Robert T., FRBank of New York, designation for 1948 Redesignation for 1949 " ills, A. L. M., FRBank of Richmond, designation for 1949 IiimAPPointment at FRBank of Richmond declined lir) Brayton, FiRBank of San Francisco, redesignation for 1949 14Ysor W. G., request that he not be reappointed as Class C director at Richmond ellts Alt_ altapresentative: "'late, title not used in appointments at branches ''laries http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11/5 1858 11/26 1982 12/14 2118 12/14 2118 12/14 2118 12/14 2118 4/15 12/23 12/14 12/14 587 2187 2118 2118 12/21 2162 8/18 1324 12/14 2118 768 5/14 12/14 2118 12/17 2150 12/23 2186 12/14 2118 11/9 1880 2/17 219 157 Pages FDA_ .m .gemts Representative: (continued) Anderson, John B., Salt Lake City Branch, appointment and salary approved Salary approved Appointment of, procedure approved 8403Y, T. Wesley, Charlotte Branch, salary approved Salary approved Chase, David E., Oklahoma City Branch, salary approved Salary approved Cosgrove, 'William J., Pittsburgh Branch, appointment approved Salary approved ra Salary approved 'lox) Lee G., Oklahoma City Branch, salary approved Salary approved , Salary approved Lmeamus, D. J., Alternate at New Orleans Branch, salary approved Fai-1"4.eY, 'William F., Omaha Branch, salary approved vi Salary approved Sher) H. B., Denver Branch, salary approved 4 Salary approved Gta' l er) C. Hadley, El Paso Branch, salary approved ''iam Paul D., Charlotte Branch, salary approved Sal;ry approved -PPe) Henry B., New Orleans Branch, appointment and salary Jon approved r) Everett, Detroit Branch, salary approved ma;',7) John A., Little Rock Branch, salary approved —84) William H., Cincinnati Branch, appointment approved ost Salary approved Parn)H. H., Cincinnati Branch, salary approved Pet;!4-1, G. H., Louisville Branch, salary approved pchy'e) August J., Detroit Branch, salary approved "ell) Leland W., Helena Branch, appointment and salary approved Ilitze Si a, la!:Y approved N31.11, Carl, Memphis Branch, salary approved Shi' T,I -°11, J. h., Los Angeles Branch, salary approved TY) Eugene L., Baltimore Branch, salary approved S14)10,,a3 ,-arY approved Alfred A., Jr., Baltimore Branch, salary approved St0alaryy approved Stre fs G. W., San Antonio Branch, salary approved e`'er) Earl O., Omaha Branch, salary approved k salsa/7 approved ") Steve J., Helena Branch, appointment and salary approved TrNbridge 41417 approved , Gordon M., Pittsburgh Branch, salary approved lie t841a17 approved J. Val, New Orleans Branch, salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11/2 12/1 12/3 1841 2007 2040 6/16 957 12/10 2103 1/5 8 6/28 1055 2/17 219 5/25 845 9/29 1639 1/5 8 1/13 59 6/28 1055 8/18 1323 1/5 8 6/28 1055 1/5 8 6/28 1055 7/1 1069 6/16 957 12/10 2103 9/2 1424 12/21 2172 6/16 957 2/17 219 9/29 1639 9/29 1639 6/16 957 9/29 1639 10/20 1791 12/21 2172 6/16 957 12/1 2007 6/16 957 12/10 2103 6/16' 957 12/10 7/1 2103 1069 1/5 8 6/28 1055 10/20 12/21 5/25 9/29 8/18 1791 2172 845 1639 1323 158 Pages lbgents Representatives: (continued) 8 Young, William R., Denver Branch, salary approved 1/5 1055 6/28 Salary approved Fp -Bank of Atlanta: Banking quarters, expenditure for roof, authorization 477 3/29 approved 8/27 1398 Bu6Lget, expenses in excess of estimate for 1948 approved Bank and public relations function, special item of $25,000 not to be approved until development 2052 12/6 of program for use of funds 12/23 2196 Bud Expenses in excess of estimate for 1948 approved get for 1949 approved except for special fund in item "Meetings, conferences, etc." of Bank and Public Relations function, information re 12/27 2210 use of fund requested Cement Company case, study recommended by Committee on Current Business Developments, discussion, Mr. McCabe to discuss matter with Mr. Neely 1856 11/5 in Atlanta Cle-ssificaticn of member banks for election of directors, 299 3/3 changes approved Cus t°011Y receipts for collateral for loans, no objection to acceptance of receipt from Trust Company of 534 4/5 Atlanta, Ga. Georgia, 41-n1 ,---0Yees and officers of FRBanks participating in civic and 12/27 2204 community activities, letter to Mr. Neely FRno 740 5/7 tes, supplemental order for printing 829 5/21 SuPplemental order for printing 12/14 2127 SuPplementa1 order for printing 'gulation W, reply to questions from Mr. McLarin re Form 639, pre-September 20 loans, and mechan10/12 1751 ical refrigeration units to add-on lated Section 6(d), permission of non-regu regulated outstanding indebtedness under, 10/15 1773 advice re sa.1.4r4_ 842 5/25 s „781 officers, approved ta"I Barnett, Mrs. Genevieve M., Alt. Asst. FRAgent, salary 1068 7/1 approved Barrett, assistant examiner as Hugh Anthony, appointment 7/20 1137 approved Bowl salary President, -en, James H., Assistant Vice 5/25 842 approved Bot,Th 842 approved 5/25 salary ,-"an, V. K., Vice President, 842 5/25 salary approved C. R., Assistant Vice President, approved but salary ark, L. M., First Vice President, at less than recommended, reappointment to 843 be discussed by Chairman McCabe with Mr. Neely 5/25 if approved agreeable be to $1,000 Salary increase of to Messrs. Evans and Vardaman, Chairman McCabe to discuss question of management of Bank with 6/8 911 Mr. Neely http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FRBID 159 Pages _ Of Atlanta: continued) Staff: (continued) 5/25 Denmark, J. E., Vice President, salary approved assistant as appointment Theodore, Eddins, William 7/15 examiner and appointment FRAgent, Asst. Hammond, Olin W., Alt. 1/5 salary approved 4/8 approved salary Custodian, Assistant Vault Laney, Levings Waddell, appointment as assistant exam1/5 iner approved Chairdiscussed by be to question Management of Bank, man McCabe with Mr. Neely, discussion in connection with approval of salary for Mr. Clark 6/8 Martin, F. H., Assistant Vice President, salary approved 5/25 Martin, I. H., Assistant Vice President, salary approved 5/25 McCravey, J. R., Jr., Assistant Vice President, salary 5/25 approved reappointapproved, salary President, Jr., McLarin, W. S., ment to be discussed by Chairman McCabe with 5/25 Mr. Neely Milling, Roy E., Assistant Vice President, salary approved5/25 Mobley, Thomas High, appointment as examiner approved, 7/16 formerly assistant examiner 12/14 redesignation for 1949 FRAgent, Frank H., 5/25 Patterson, Harold T., General Counsel, salary approved 5/25 Pike, Winslow E., General Auditor, salary approved salary President, Vice Assistant RaineY, Edward Carr, 5/25 proved of excess in salary Economist, Senior RaiaY, Lloyd B., 6/2 maximum approved 5/25 tuber, Earle L., Director of Research, salary approved 5/25 6chuessler, S. P., Vice President, salary approved Senior management of Bank, question not discussed by • Mr. Eccles with Mr. Neely at White Sulphur 6/8 Springs Stud„ basing re effects on South of order against use of point pricing system in cement industry, matter to be discussed at Presidents Conference and to be considered by Committee on Current Business Developments at meeting 9/29 in Boston Effect of Cement Company decision on industry in South, 10/5 contract with Emory University mentioned , of Boston: zoaaak quarters, request for approval for installation of fluorescent lighting and accoustical ceiling, etc., not granted because of magnitude of 1/16 project during present times inflabecause of Pr'oposed improvements, to be postponed tionary conditions and shortages of construc2/27 tion materials No objection to replacement of roof over members' court 4/5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 842 1121 7 560 8 914 842 842 842 842 843 1126 2118 842 842 842 896 842 842 914 1628 1701 79 263 539 160 Pages P143-n4 of Boston: (continued) Budgets 1948 report increased for items of furniture and equipment, stock of supplies, and check collection Photographic records of outgoing cash items, to be discussed during consideration of 1949 , Expenses in excess of estimate for 1948 approved oudget for 1949, photographic records and double-listing of outgoing country checks, value to be questioned in letter to Approved, but further information re amount for Check Collection function requested 41111nation, report considered and signed by directors, ' FRnotes of 1928 Series to be canceled and. forwarded to Treasury for destructicn Plnotes, supplemental order for printing , Supplemental order for printing °alaries: EMployees, list submitted, including part-time employees in cafeteria whose salaries were above maximums for grade Officers, approved Senior officers near retirement age, discussion of increases but no action as policy taken Staff: Adams, Elmo O., Assistant Cashier, salary approved Aubrey, Lee J., designation as special assistant examiner Berge, Ansgar R., Secretary and Assistant Counsel, salary approved Boardman, Elliot S., Budget Officer, salary approved Butler, Edward A., designation as special assistant examiner Cafeteria, salaries above maximums approved for 11 part-time employees in ClaPP, Robert V., designation as special assistant examiner il'eighton, Albert M., FRAgent, redesignation for 1949 avis, Edward A., Jr., Asst. Vice President, salary approved Erickson, Joseph A., President, appointment approved If made by board of directors, plan for visits at Board and FRBanks before assumption of duties, Mr. Creighton to be advised Appointment and salary approved, matter of directorship of Boston Edison Company referred to Chairman McCabe to settle after discussion with Messrs. Creighton and Erickson of Board policy re Present at meeting of Board President-elect, present at meeting of Presidents with Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/26 258 9/21 1548 12/27 2213 12/6 2054 12/27 2206 4 3-6 ) 3 1f / 12/14 2126 2/5 5/7 149 736 9/7 1442 5/7 737 9/15 1507 5/7 5/7 737 737 9/15 1507 2/5 149 9/15 1507 12/14 2118 5/7 737 11/5 1862 1872 11/9 12/21 2165 12/1 2010 • 11%Emk of Boston: (continued) Staff: (continued) Farrell, Authur C., designation as special assistant 9/15 examiner Fogg, John J.,5/ 7 approved salary Auditor, approved salary 5/7 Cashier, Assistant Gilbody, Frank C., Gittins, William Clifford, appointment as assistant 5/21 examiner assistant examiner as appointment Hadley, Warren K., 2/10 Harvey, Robert B., Cashier, salary approved 5/7 Hoyle, Luther Milton, appointment as assistant examiner, additional information re indebtedness re12/17 quested Hult, Ellis G., Vice President, salary approved 5/7 Salary increase approved but less than recommended, 9/7 advice to Ar. Whittemore Kent, James R., designation as special assistant examiner 9/15 Kilderry, John Francis, appointment as assistant examinerI1/18 Lanigan, John H., designation as special assistant 9/15 examiner Latham, Earle O., Vice President, salary approved 5/7 Lind, Oscar W., appointment as assistant examiner ap2/10 proved McCarthy, Daniel P., designation as special assistant 9/15 McNally, Vincent T., designation as special assistant 9/15 examiner assistant special as designation S., Thomas Mesntg°rnerY, 9/15 examiner Mooney, John F., Alternate Assistant FRAgent,salary 7/7 approved 12/30 Salary approved Mo risey,o Clifford, Alternate Assistant FRAgent, 7/7 salary approved 12/30 _ _Salary approved Nuloer, Gilles C., designation as special assistant 9/15 examiner Mur i-r, Edward R., Assistant Cashier, salary approved m P-vr, 5/7 ' AIrPhY, Robert J., designation as special assistant 9/15 examiner Neal, Alfred C., Vice President and Director of Research, 5/7 salary approved Nio . sl, James A., designation as special assistant exam9/15 iner No °nan,John T., special counsel, employment to resist 6/2 real estate tax assessments and fee approved ' cllY I t e, Loring Campbell, appointment as assistant examiner 7/21 special assistant - Brien, Joseph E., designation as 9/15 examiner OtNe. approved salary Cashier, 5/7 Assistant 11, Edward W., ph assistant special designation as elPs, WIlliam D., 9/15 examiner http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 161 Pages 1507 737 737 826 163 737 2153 736 1442 1507 1940 1507 736 163 1507 1507 1507 1094 2240 1094 2240 1507 737 1507 736 1507 895 1141 1507 737 1507 PRBank of Boston: (continued) Staff: (continued) Pitman, Carl B., Vice President, salary approved 5/7 President, successor to Mr. 'Whittemore, report by Chairman McCabe of discussion with Mr. 10/27 Creighton re selection of Restarick, Phyllis, designation as special assistant 9/15 examiner Ripley, Ira L., designation as special assistant 9/15 examiner Risch, Siegfried, designation as special assistant 9/15 examiner Roche, Edwin P., designation as special assistant 9/15 examiner Rock, John J., Assistant Cashier, salary approved ' 5/7 Sawyer, Dana D* 2 Asst. Vice President, salary approved 5/7 Schlaikjer, Oscar A., Vice President and General 5/7 Counsel, salary approved Schultz, H. Albert, designation as special assistant 9/15 examiner Shookus, John T., designation as special assistant 9/15 examiner Shorten, John J., designation as special assistant 9/15 examiner Stoyle, Lewis E., Alt. Asst. FRAgent, salary approved 7/7 12/30 Salary approved Thompson, George L*2 designation as special assistant 9/15 examiner Van Amringe, Roy F., Vice President, salary approved 5/7 Whittemore, Laurence F., President, salary approved 5/7 Resignation, discussion of possibility, Board not to take initiative in consideration of suc8/6 cessor Continuation of services temporarily after acceptance of Presidency of New York, New Haven & Hartford Railroad Company, arrangement 9/7 approved Successor, report by Chairman McCabe of discus10/27 sion with Mr. Creighton re selection of Villett, William, First Vice President, salary 5/7 approved Woodward, Raeburn O., designation as special assistant 9/15 examiner ehner, Louis A., Asst. Vice President, salary approved 5/7 Y similar to one proposed for FRBank of Atlanta re use of basing point pricing system in cement 4nk of 9/29 industry completed by Batk, Chicago: lng quarters, no objection to completion of aircondition7/1 ing }812dget) expenses in excess of estimate for 1947, acknowledg1/8 ment of letter re http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 162 Pages 736 1824 1507 1507 1507 1507 737 737 737 1507 1507 1507 1094 2240 1507 737 736 1243 1458 1824 736 1507 737 1629 1072 33 RBaak of Chicago: (continued) Budget, for 1948, further information requested re "Meetings, 1/8 conferences, etc." 12/16 1948, approved estimate for Expenses in excess of Budget for 1949 approved 12/27 Direct sendings of member banks where volume of checks in territory of another FRBank or branch averages 300 or more per day, reply to let— 1/27 ter re Reply to letter re items in St. Louis and Minneapolis 3/11 District .amination report, copy left for information of Chairman 11/18 and directors, comments requested FRnotes, supplemental order for printing 12/14 °rficers, desire to give official status to senior econo8/14 mists Regalation WI 9/16 General Finance forms, reply to letter re Res'Irve computation periods of central reserve and reserve city banks, letter to Mr. Young re proposal 2/19 for changing Reserves, computation periods different selecting option of suggested by Chicago banks, letter to Mr. Young to be revised, as Board not in 2/13 favor of Salaries, employees, approved 2/20 Staff: Avery, Clarence N., FRAgent, letter of appreciation for services as reappointment not to be accepted 11/26 3/22 Barton, Orville C., Assistant Counsel, salary approved Beaufait, Wm. F., designation as special assistant 4/14 examiner Bentz, George, designation as special assistant examiner11/9 lack, Allan M., Cashier, salary approved 3/22 3/22 Bristow, Edward D., Assistant Cashier, salary approved Carroll, Phil C., Assistant Cashier, salary approved 3/22 Chmelik, James J., designation as special assistant 11/9 examiner Clark, Clifford, designation as special assistant exam— 11/9 iner Collins, Michael T., designation as special assistant 11/9 examiner Dawes, Neil B., Vice President, salary approved 3/22 , Vice President and Secretary, salary approved 10/1 tl-ercks, Wilford R., Vice President, salary approved 3/22 ulllard, J. H., Vice President, salary approved, to 3/22 be retired at age 65 on September 17, 1948 3/22 C. B., First Vice President, salary approved 4monomists, salaries approved as officers with titles 10/20 of Senior Economists Official status for three senior economists, 10/28 advice to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 163 Pages 32 2142 2213 119 355 1941 2127 1496 1516 242 178 246 1982 397 585 1882 397 397 397 1882 1882 1882 397 1666 397 397 398 1791 1830 164 Pages F M3cLux of Chicago: (continued) Staff: (continued) Egeland, John, designation as special assistant examiner Endres, John J., Auditor, salary approved Garver, "Walter B., Agricultural Economist, to attend meeting with Professor Murray on proposed conference of agricultural economists Change of title to Agricultural Economist, Senior, with official status and salary recommended, discussion, matter to be considered on System-wide basis, to be placed on agenda for Presidents Conference, Mr. Young to be advised by Mr. Vardaman Senior Economist, salary as officer approved Garvy, John W., Asst. General Counsel, salary approved Gronert, William C., designation as special assistant examiner Gustayson, A. M., Assistant Auditor, designated FRExaminer to participate in examination of National Bank of Haiti Officer status and salary approved Examination of Banque Nationale de la Republique d'Haiti, completion of mission, letter to Mr. Young re services Hayes, Hugh P., designation as special assistant examiner Designation as special assistant examiner approved Heath, Edward A., Asst. Cashier & Asst. Secretary, salary approved Letter of appreciation for services in connection with Regulation W , Salary approved noadley, Walter E., Jr., change of title to Business Economist, Senior, with official status and salary recommended, discussion, matter to be considered on System-wide basis, to be placed on agenda for Presidents Conference, Mr. Young to be advised by Mr. Vardaman T., Salary as officer approved w3dge, Paul C., General Counsell salary approved To work with Mr. Evans re hearing to be held on Transamerica Corporation Travel expenses in connection with Transamerica proceeding to be absorbed by 3Pkins, Walter A., Assistant Cashier, salary approved t'acobson, Nils S., appointment as examiner approved, formerly assistant examiner JO nes) Laurence H., Assistant Vice President, salary approved T http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1882 11/9 3/22 397 4/7 547 9/14 1496 10/20 3/22 1791 397 2/25 253 2/19 3/31 240 493 5/27 872 4/14 585 6/9 927 3/22 397 11/9 11/18 1881 1940 9/14 1496 10/20 1791 3/22 397 5/27 863 12/20 3/22 2159 397 4/5 534 3/22 397 165 Pages PRBank of Chicago: (continued) Staff: (continued) Jones, Merton, designation as special assistant 1882 11/9 examiner 397 Laibly, Clarence T., Assistant Cashier, salary approved 3/22 Langum, John K., Vice President, salary approved 397 3/22 Lies, Mark A., Assistant Vice President, salary ap397 3/22 proved Linasten, Frank A., Assistant Vice President, salary 397 3/22 approved Mayer Meyer Austrian & Platt and attorney Marshall V. Kearney, employment as special counsel in 896 6/2 tax matter approved Meyer, Louis G., Assistant Vice President, salary . 397 3/22 approved Mitchell, George W., leave of absence without pay to act as consultant on management problems of Bureau of Internal nevenue, no objection 1100 7/9 to with Change of title to Tax Economist, Senior, official status and salary recommended, discussion, matter to be considered on System-wide basis, to be placed on agenda for Presidents Conference, Mr. Young to be 9/14 1496 advised by Mr. Vardaman 10/20 1791 Senior Economist, salary as officer approved Leave without pay to serve in Governor's cabinet as Director of Finance for State of Illinois, 12/28 2225 no objection to Netterstrom, Otto J., Vice President, salary approved 397 3/22 397 3/22 salary approved Cashier, ,1ewman, Harold J., Assistant examiner, formerly as Dioelting, Harold L., appointment 534 4/5 assistant examiner Olson, Arthur L., Vice President, salary approved 397 3/22 Petersen, Ingolf, Assistant Cashier, salary approved 397 3/22 Purrington, F. L., Assistant Vice President, salary 397 3/22 approved Saltnes, Carl M., Assistant Cashier, salary approved 397 3/22 Scanlon, Charles J., Alternate Asst. FRAgent, salary 6/21 979 approved Schelling, Carl, Asst. FRAgent, salary approved 979 6/21 Schreiber, Frank, designation as special assistant 11/9 1882 examiner 397 3/22 Sihler, Alfred T., Vice President, salary approved SPaeth, Carl F., Jr., appointment as assistant exam700 5/4 iner approved SPeekin, Stanley John, Fireman, Building Department, salary below minimum approved for temporary 247 2/20 period 6/28 1054 aneY, Russell A., Assistant Cashier, salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FRB ank of Chicago: (continued) Staff: (continued) Tiedemann, Harry H., Jr., Methods Engineer, Planning Department, salary below minimum approved 2/20 for temporary period salary President, Turner, Wm. W., Assistant Vice 3/22 approved 6/28 Vice President, salary approved Van Zante, C. Paul, Chief Examiner, officer status and 3/31 salary approved Weber, Robert J., designation as special assistant 4/14 examiner 5/3 Designation as special assistant examiner 9/23 Appointment as assistant examiner 6/28 Wilson, H. Fred, Asst. Vice President, salary approved 3/22 Young, C. S., President, salary approved comexecutive on Presidents First alternate for 5/14 mittee of FOMC 12/21 Board of Present at meeting Zaleski, Peter, designation as special assistant exam11/9 iner Of Cleveland: I5ank44-4g quarters, no objection to expenditure for replace5/24 ment of casement windows and doors Budget: Photographic records of outgoing cash items, to be discussed during consideration of 1949 Banl, -- and public relations function, making of moving picture to be deferred, question to be raised with _xpenses in excess of estimate for 1948 approved Photographic records of outgoing country checks, information re value at present to be requested 4Penses for Furniture and Equipment function at Cincinnati Branch in excess of estimate for 1948 approved 19fa -*/ approved, but further information requested re proposed movie in Bank and Public Relations function and for Check Collection function Char— 6" accounts, number 8581 Loose-Leaf Service still applicable to conversion of, advice to 1:‘canliriation, copy of report left for information of Chairman and directors, Auditor to make reexamination of present audit program and to make report to Audit Review Committee ?„1111otept rrofit-s suPplemental order for printing and loss statement, manner of showing certain expenditures in V, repay to telegram re instruments or records mentioned in section 3(c) and section 8(a) http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 166 Pages 247 397 1054 493 585 698 1603 1054 398 774 2165 1882 833 9/21 1548 12/6 12/15 2052 2134 12/6 2054 12/22 2185 12/27 2209 9/9 1474 3/9 343 12/14 2126 8/13 1285 9/14 1505 FRBank of Cleveland: (continued) Reserve against commitment on Section 13b loan to Hanagan Brothers, Inc., approved Safekeeping of Treasury bills for Bankers Trust Co., New York, sold by Cleveland Trust Co. under repurchase agreement Salaries, employees, payment of shift differential for Grades I through VIII approved Salaries, officers, approved Staff: 167 Pages 12/28 2232 8/31 1405 10/12 4/23 1750 638 4/23 638 Armstrong, James K., Alternate Asst. FRAgent, appoint3/3 ment and salary approved Bernhardy, C. M., designation as special assistant 1/14 examiner Bevan, Jack Eugene, appointment as assistant examiner 11/4 approved Blair, W. T., Secretary, salary approved 4/23 Appointment as Counsel to work with Squire, Sanders and Dempsey for period of time to be considered 4/29 favorably 5/21 Counsel and Secretary, salary approved 4/23 Bolthouse, C. J., Assistant Cashier, salary approved BoYd, H. M., Chief Examiner, salary as officer 4/23 approved Brainard, George C., to meet with Board for discussion of outside counsel problem //11 ) , 12 FRAgent, redesignation for 1949 Buescher, Ernest L., payment to Retirement System ap3/22 proved 4/23 Clouse, R. R., Asst. Vice President, salary approved Counsel, outside counsel to be discontinued after May 1, 1948, letter as reminder of Board's 3/9 position to be sent to Employment of outside counsel to be discontinued, 3/23 letter to FRBank Co 1/14 ,X, Chris, designation as special assistant examiner Lay, Robert Lee, appointment as examiner approved, 9/20 formerly assistant examiner approved .„!Ininger, C. F., Auditor, salary 4/23 4/23 .,,fde, G. H., Assistant Cashier, salary approved ' 400, George, letter of appreciation for work at Board 12/21 on Regulation IT matters Findeisen, W. L., Asst. Vice President, salary 4/23 approved Fletcher, Wm. H., First Vice President, salary 4/23 approved 9/29 Fricek, Elmer F., Alt. Asst. FRAgent, salary approved approved 4/23 salary President, W. G-'1.11ton, D., Vice 4/23 ldneY, R. M., President, salary approved To meet with Board for discussion of outside counsel 4/19 problem http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 300 66 1852 639 687 826 638 639 2n 396 638 336 413 66 1537 639 638 2172 638 638 1639 638 638 609 168 Pages of Cleveland: (continued) Staff: (continued) Gidney, R. M., President: (continued) Present at Board meeting to discuss plans for Pittsburgh Branch building and outside 684 4/29 counsel at Bank Ginnane, Richard Joseph, appointment as assistant 12/7 2084 examiner approved Hancox, George, designation as special assistant 66 1/14 examiner Hichens, Arthur, Mail Verification Clerk, salary in 10/12 1749 excess of maximum approved Hiner, James M., Redemption Adjustment Clerk, Fiscal Agency Department, salary in excess of 10/12 1750 approved examiner apRoll, Carl E., assistant as appointment maximum 365 3/15 proved Hostetler, L. M., Manager, Research Dept., salary approved J ankowski, Vanda, salary below minimum approved for 613 4: / /:3 : temporary period Jones, Alexander, Endorsing Clerk, salary in excess 10/12 1749 of maximum approved Kaufman, William Floyd, appointment as assistant 366 3/15 examiner approved Klpfstuhl, E. F., designation as special assistant 66 1/14 examiner Kuhns, Stewart, Mail Verification Clerk, salary in 10/12 1749 excess of maximum approved L4ning, A. H., Vice President and Cashier, salary 638 4/23 approved 639 4/23 I r°we, J. R., Assistant Cashier, salary approved alginbuhl, Enos 0., salary in excess of maximum 1/26 114 approved Miller, J. M., Assistant Cashier, salary approved 4/23 639 Moenich, Jeanette, elevator operator, salary in 10/12 1749 excess of maximum approved approved 638 salary 4/23 Morrison, Martin, Vice President, approved, examiner Nichols, James H., appointment as 6/29 1059 formerly assistant examiner (3fficers (except President and First Vice President), 1/14 66 advice of reappointments for 1948 Quigne " J, excess in Alice, elevator operator, salary 10/12 1749 of maximum approved Ros8) Geo. R., Assistant Cashier, salary approved 4/23 639 ochiering, Harry Calvin, appointment as assistant 10/6 1710 examiner approved Schuster, Marion, contributions to retirement system, claim for reimbursement, further informa5/12 760 tion requested Saith, H. E. J., Asst. Vice President, salary approved 638 4/23 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 169 Pages ank of Cleveland: (continued) Staff: (continued) Squire, Sanders and Dempsey, counsel, advice of reappointment for first four months of 1948 To be retained at reduced fee for one year, plan to be favored by Board Payment of retainer approved, extra compensation to be paid for special matters if authorized by directors and approved by Board Stetzelberger, P. C., Asst. Vice President, salary approved Steven, Ellen, Eecordak Operator, salary in excess of maximum approved Sykora, Hazel, Recordak Operator, salary in excess of maximum approved Terpening, Kenneth J., appointment as assistant examiner approved Thompson, D. S., Vice President, salary approved To assist Board's Division of Research and Statistics for temporary period, expenses to be P-44101c borne by FRBank Of Dallas: 13142 + Bud-e-, expenses in excess of estimate for 1948 approved 4 get for 1949 approved 641ination, copy of report left for information of Chairmen and directors, comments requested --ses for 1948 in connection with consumer credit operations FRnotes, supplemental order for printing SuPplemental order for printing - gistered mail service to Texas South High Plains Area, improvement requested by, letter to Mr. Lawler, Post Office Department RegIllat* application to rentals of sewing machines Sala,4 lOn stafirs, officers, approved Allen, Vin. C., designation as special assistant examiner Auditor, question not discussed by Mr. Eccles with Mr. Parten at Vhite Sulphur Springs Aust* ,_lny F. B., Vice President, salary approved Bec Douglas H., salary in excess of maximum approved ertram, R. T., designation as special assistant exaniner approved Blake, John C., designation as special assistant examiner •lide tlizs, Howard, Assistant Cashier, salary approved 4 C" Il Charles L., designation as special assistant examiner col APpointment as assistant examiner approved erllan, R. B., Vice President, salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/11. 66 4/29 687 5/21 826 4/23 638 10/12 1749 10/12 1749 1/15 4/23 69 638 5/20 807 12/6 12/27 2213 6/14 950 12/6 4/28 6/4 2067 683 901 5/6 10/6 5/25 717 1711 844 6/18 974 2066 6/8 914 5/25 5/27 844 873 3/29 474 7/15 5/25 1121 844 7/15 9/9 5/25 1121 1472 844 FiRtank of Dallas: (continued) Staff: (continued) 5/25 Cook, J. L., Assistant Cashier, salary approved Couch, James D., designation as special assistant lo/1 examiner 6/22 Cummins, V% V., salary in excess of maximum approved 5/25 De Moss, H. R., Vice President, salary approved Dennis, George, designation as special assistant 6/18 examiner Gentry, V% D., First Vice President, salary approved 5/25 after discussion of work 5/25 Gilbert, P. R., President, salary approved Second alternate for Presidents on executive com5/14 mittee of FOMC Gore, Charles Arthur, appointment as examiner approved, 3/23 formerly assistant examiner House, James N., designation as special assistant 10/1 examiner Hulsey, Moss Elm, Jr., appointment as examiner ap8/11 proved Irons, W. H., Vice President, salary approved 5/25 Johnson, Hubert D., Counsel, resignation accepted, employment on part-time and month-to-month basis pending selection of successor and 3/9 retainer fee approved Man1V, R. W., designation as special assistant examiner 3/29 approved Michaelis, A. C., Assistant Cashier, salary approved 5/25 Nc)veY, F. T., General Auditor, salary approved after discussion of work, Mr. McCabe to talk with 5/25 Mr. Parten about services Par+ m —en, J. R., FRAgent, redesignation for 1949 12/14 rcndrom, L. G., Vice President and Cashier, salary 5/25 approved Price, Edward, Alt. Asst. FRAgent, salary approved 7/1 ce, Morgan, H., Assistant Vice President and Secre5/25 tary of Board, salary approved Shuford, Harry A., Counsel, salary approved 7/20 SrlYthy Mac C., Vice President, salary approved, trans2/25 ferred from El Paso Branch Salary approved 5/25 "taker, Orval, name removed from list of special 6/18 assistant examiners Val 2/25 approved ler, W. D., Assistant Cashier, salary Salary approved 5/25 Web 5/25 1411 , R. 0., Assistant Cashier, salary approved assistant ' 111s, Gordon M., designation as special .14 4t1, 4 6/18 41i of, examiner te.nki,rilsaa City: 446 quarters, proposed improvement and extension of air conditioning system, to be postponed because 2/27 of present inflationary conditions http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 170 Pages 844 1666 989 844 974 843 844 774 431 1666 1267 844 334 474 844 843 2118 844 1069 844 1137 253 844 974 253 844 844 974 264 171 Pages PRBank of Kansas City: (continued) Budget, expenses in excess of estimate for last half of 1/5 1947, acknowledgment of letter re 12/15 Expenses in excess of estimate for 1948 approved 1949 approved 12/27 Cafeteria, changes to discontinue free meals to service employees and to operate on cafeteria basis 1/20 to be made Change in practice of serving free lunches to service employees to be deferred pending report of Presidents Conference Subcommittee on Personnel Classification and action by Confer2/12 ence Examination, copy of report left for information of Chairman and directors, comments and views re' matter of audits and auditing staff re12/22 quested FRnotes, supplemental order for printing 5/10 12/14 Supplemental order for printing gulation 'V, applicability of 00 monthly instalment requirement to renewed, revised or consolidated obligations under section 5(a), reply to 9/27 inquiry from Salaries: 4/26 Employees in Building Department, approved Employees, minimum and maximum approved for respective 12/16 grades Personnel classification plan, increase in minimum and 6/25 maximum salaries approved 6 /16 Officers, approved Qtaff: Allendoerfer, Maurice, Assistant FRAgent, salary approved e/28 Salary approved Blair, John N., designation as special assistant 1/13 examiner Bollinger, C. L., Auditor, salary approved 1/22 Salary approved 6/16 Matter of audits and support of staff mentioned in connection with examination report, views 12/22 of Chairman requested 1,4 Ca-,A fell, Robert B., FRAgent, redesignation for 1949 12/14 Cli --ment, Mrs. Julia, supplemental payment to retirement 12/29 system approved Fisler, at FRExaminer J. V., appointment as Asst. Board made permanent and salary increased, credit to be given for annual leave accumu10/27 lated GoYette, D. R., designation as special assistant 1/13 examiner Or salary President, egorY, G. A., Assistant Vice 6/16 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12 2135 2213 92 170 2184 752 2127 1621 653 2138 1028 958 1054 60 100 958 2184 2118 2238 1825 60 958 PRBank of Kansas City: (continued) Staff: (continued) Johns, Delos C., to work in Chairman's office at Board for 60 to 90 days, salary and expenses to be paid by Bank except for official travel during stay at Board 4/29 Vice President, General Counsel and Secretary, salary approved 6/16 Present at meeting of Board and report on International section of Division of Research and Statistics 7/7 Keithley, Vern A., Jr., designation as special assistant examiner 1/13 Koppang, Henry 0., First Vice President, salary approved 6/16 Leedy, H. G., President, salary approved 6/16 Major, F. Lee, Jr., appointment as assistant examiner approved 3/16 McCarty, E. A., designation as special assistant examiner 1/13 McCormick, Robert R., designation as special assistant examiner 1/13 Mills, L. F., Chief Examiner, salary approved 1/22 Salary approved 6/16 Park, M. W. E., Assistant Vice President, salary approved 1/22 Salary approved 6/16 Phillips, John, Jr., Vice President, salary approved 6/16 Robb, T. Bruce, Director of Research, salary approved 6/16 Sa.114Y, C. E., Cashier, salary approved 1/22 Salary approved 6/16 Self, Kenneth B., Alt. Asst. FRAgent, salary approved 1/5 , Salary approved 6/28 ilerman, E. U., Assistant Cashier, salary approved 6/16 Stannard, Albert M., salary approved until retirement at end of year 8/24 Stewart, Virgil R., salary approved, services not to be continued beyond June 30, 1949 6/17 T Salary approved 7/8 Yaer, E. P., Assistant Cashier, salary approved 6/16 Salary approved, services not to be continued beyond June 30, 1949 6/17 Vanderhoof, E. D., Assistant Cashier, salary approved 1/22 , Salary approved 6/16 D. '4., Vice ?resident, salary approved p 1/22 Salary approved '.0011ey, rac Of m.Sala 6/16 t„-1 "get:inneapolis: Photographic records of outgoing cash items, to be discussed during consideration of 1949 9/21 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 172 Pages 690 958 1092 60 958 958 370 60 60 100 958 100 958 958 958 100 958 8 1054 958 1376 962 1098 958 962 100 958 100 958 1548 173 Pages PR,Bank of Minneapolis: (continued) Budget: (continued) Desirability of continuing annual conference of banks in District and of revising motion picture questioned, additional information to be requested Photographic records of outgoing country checks, information re value at present to he requested Approved except for amounts in item "Meetings, conferences, etc." and for replacement of movie "Back of Banks and Business", further information re Check Col-lection function also requested , Expenses in excess of estimate for 1948 approved ' zixamination, copy of report left for information of Chairman and directors, comments requested Hos Pitalization insurance, to be provided from Connecticut General Life Insurance Company Res rules for waiving penalties for deficiencies, definition of "deposits", advice to Mr. Peterson Sal sties, officers, approved 12/6 2051 12/6 2054 12/27 12/27 2211 2214 325 449 3/22 398 2/26 5/25 257 841 Anderson, Morris G., Alt. Asst. FRAgent, salary 5/3 approved Bloomquist, Cyrus C., appointment as assistant 5/11 examiner ore, H. C., Personnel Officer, salary approved 5/25 ureitzler, Ralph J., designation as special assistant 11/3 examiner P"sum, Kyle K., designation as special assistant 4/8 examiner approved G approved 12/1 examiner Appointment as assistant r°th) Clarence V., Assistant Vice President assigned to Helena Branch, salary approved but at 8/20 less than recommended Salary increase recommended, discussion of matter with Mr. Peyton, not approved by Board, Mr. Carpenter to advise Mr. Peyton of final 8/24 decision with Mr. discussion Question of salary, further Peyton, no change in decision of Board, let8/26 ter to be mailed to Mr. Peyton Board to Peyton Telegrams and letters from Mr. members re, reply to be drafted by Secretary 8/31 Letter stating Board's opposition to increase recom9/3 mended and reasons for sent to Mr. Peyton jots_Designation as special examiner approved 9/14 examiner 5/11 assistant as appointment Ki:°n, Robert C., ) Ervin F., salary approved for temporary assign4/1 ment 2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 698 754 841 1844 560 2007 1349 1362 1388 1407 1436 1505 754 496 Pitank of Minneapolis: (continued) Staff: (continued) 5/25 Larson, A. R., Assistant Cashier, salary approved Larson, C. J., special assistant examiner, termina9/14 tion of designation noted Larson, E. B., Assistant Vice President, salary 5/25 approved 1;ysen, M. E., Operating Research Officer, salary approved 55/25 McConnell, H. G., Vice President, salaryapproved /g McCracken, P. W., Director of Research, salary 5/25 approved Mills, A. V., Vice President and Cashier, salary 5/25 approved 5/25 Ohnstad, O. V., Auditor, salary approved Peterson, J. Marvin, Director of Research, salary 8/20 approved 5/25 Peterson, W. E., Assistant Cashier, salary approved 5/25 Peyton, J. N., President, salary approved Salary recommended for Mr. Groth, discussion with Mr. Carpenter of reasons for, increase not 8/24 approved by Board, to be advised Appointment and salary of Mr. Groth, further discussion of increase but no change in Board's decision re, letter to be mailed stating con8/26 clusion Appointment and salary for Mr. Groth at Helena Branch, telegrams and letters to Board members re, draft of reply to be prepared by 8/31 Secretary Question of salary for Mr. Groth at Helena Branch, letter stating Board's opposition 9/3 to increase recommended and reasons sent to Central banking seminar proposed by, discussion of 11/9 5/25 Pc'well, O. S., First Vice President, salary approved P sreston, O. R., Vice President, salary approved 5/25 12/14 ,IlePard, Roger B., FRAgent, redesignation for 1949 ' -capher, Stanley A., appointment as assistant examiner 3/1 approved Strothman, M. H., Jr., Assistant Counsel, salary approved Tur, n r, V. H., Assistant Cashier, salary approved 5A 5/ Ueland, Sigurd, Vice President and Counsel, salary 5/25 approved Ziemer, H. I., Vice President and Secretary, salary 5/25 44k or m approved ew York: 811clget $ increases for 1948 in Furniture and Equipment 7/9 function approved Pr°Posed research for 1949, additional information re 12/6 work to be requested http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 174 Pages 841 1505 841 841 841 841 841 841 1349 841 841 1362 1388 1407 1436 1875 841 841 2118 289 e :4'1 841 841 1104 2050 175 Pages .14 of New York: (continued) Budget: (continued) 12/22 Expenses in excess of estimate for 1948 approved 1949 approved, but further information re amount for Research and Statistical function requested, consideration also to be 12/27 given to Provision of Personnel function Clearing and collection: Bank of Canada, procedure for handling cash items on 4/27 cash basis approved Eccrlomic Cooperation Administration, assistance of FRBanks, services not to be used at present, advice 7/13 to Mr. Sproul Request for services as Fiscal Agent in payment of' drafts drawn by participating countries on, discussion of providing limited services in order not to deprive commercial banks 11/23 of business, but no action taken Examination report, considered by Auditing Committee and presented to Board of Directors, information re future changes in procedure of making transfers of gold under earmark 6/7 requested Export bills and letters of credit outstanding, survey re, reply to letter from Mr. Richards re value 7/20 of information .bilnotes, supplemental order for printing 12/14 reign accounts: Banco do Brasil as fiscal agent of Brazilian Govern5/3 ment, opening of account approved Bank Deutscher Laender, remittance account, opening 7/21 of account approved • orelgn missions: El Salvador, no objection by Board, but doubts as to 2/10 results Leave of absence for Messrs. Adler, Vallich, Coombs, and Baran for, no objection to, but information before definite arrangements in future 6/18 desired :J.gn travel program for 1948, letter in reply to plans 4/2 to Bank of discretion 3810, to amend Tariff Act re certify one or more rates of exchange, letter to Chairman of Senate Finance Committee, 5/14 no further action to be taken group life, revision of policy with Equitable Life Assurance Society to provide additional coverage for employees and officers, acknowl7/13 edgment of letter re Banco Central del Ecuador, loans approved Approved A Approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2184 2207 680 1115 1962 902 1138 2126 699 1144 164 973 529 778 1115 358 3/11 7/23 1163 1475 9/9 176 Pages 111186111k of New York: (continued) Loans: (continued) Banco do Brasil, loan to United States of Brasil through, 4/6 approved 10/15 approved Rica, Costa de Banco Nacional Bank for International Settlements, loans under revolv11/22 ing credit approved 1/16 Bank of France, increase in loan or loans approved 3/5 Bank Polski, extension of loan approved 6/8 Renewal of loan approved 9/3 approved loan of Renewal 9/17 approved loans of Renewals 12/3 Renewal of loan approved Banque Centrale de la Republique de Turquie, increase 1/2 in loans approved Banque de France, three months extension of loan ap3/19 proved 3/26 Extension of loan approved Extension of loan approved /1-; 6/ 1 Extension of loan approved 7/20 approved loan of Extension 9/17 Renewal of five loans approved 10/20 approved loans three Renewal of 11/29 Renewal of loans approved 3/22 Banque de Grece, further extension of loan approved 6/18 approved Renewal of loan 9/22 Renewal of loan approved Banque Nationale de la Republique Federative Populaire 8/17 de Yougoslavie, approved 11/22 Renewal of loan approved 4/9 Central Bank of China, extension of loan approved 8/4 _ henewal approved pe Javasche Bank, approved 9/24 De Nederlandsche Bank, loan approved 3/26 Deletion of phrase "subject to approval by your Board of Directors" approved for proposed loan since approved by three directors, 3/29 advice to 9/24 Extension of loan approved Ph held Bank PPine Republic, securities of Chase National as collateral for deposits of, proposed ar7/23 rangement approved Regulati-on T, amendment to, questions re, reply to letter, enclosing ruling re substitutions in undermargined accounts to be published in FRBulletin 3/26 Salaries: and Federal Register eftmittize of Directors on Welfare of Staff with Personnel Committee of Board and other Board members on 1/30 March 5 on policy and salaries of officers discuss to Board Meeting with Personnel Committee of policies postponed because of delay in con3/5 firmation of Mr. McCabe http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 542 1774 1957 85 327 925 10,1 1529 2046 6 394 460 977 1139 1528 1793 1993 401 978 1599 1321 1958 569 1226 1619 461 477 1620 1161 458 132 306 177 Pages FRBank of New York: (continued) Salaries: (continued) 329 3/8 Employees, approved Minimum and maximum for respective grades approved 11/24 1971 Officers, approved, Committee of Directors on Welfare of Staff invited to come to Washington to 549 4/7 discuss salary policy at future date $20,000 and above, to be considered by all Board 892 6/1 members, statement of Mr. Eccles re Officers below President and First Vice President, matter to be reviewed with Mr. Stevens and Mr. Sproul or Mr. Rounds in Washington 6/25 1025 when convenient Officers, elimination of Board approval for junior , officers suggested, matter to be considered 7/15 1118 again when all Board members present 7/23 1159 Officers, approved Junior officers, proposed increases, consideration to be deferred until time of next annual review of 12/14 2120 officers' salaries President and First Vice President, increases not 6/25 1025 approved, Mr. Stevens to be advised Staff: Abrahams, W. F., Manager, Security Custody Department, 4/7 salary approved 7/23 , Salary approved Aoler, John H., mentioned in letter on foreign assign10/22 ments Auchter, Joseph C., salary in excess of maximum approved 7/20 Baran, Paul Alexander, economist, information in files 5/11 re loyalty requested from FBI Bilby, H. A., Asst. Vice President, salary approved 4/7 7/23 Salary approved Bloomfield, Arthur I., Chief of Balance of Payments 4/2 Division, trip to Europe, no objection to 8°14mau, Curtis R., Manager, Credit Department and Dis4/7 count Department, salary approved 7/23 Salary approved salary Department, B°Yd, H. M., Manager, Safekeeping 4/7 approved 8 7/23 Salary approved 3/17 approved salary 1.°Iney Robert H., Assistant Counsel, , mart, V. salary Department, W., Manager, Savings Bond 4/7 approved 7/23 , Salary approved salary Auditor, "ameron, D. J., Assistant General 4// approved 7/23 Salary approved /24 8 approved salary Department, Planning J., J. Manager, CarrSoll7 4/7 approved 7/23 Salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 550 1159 1805 1136 754 550 1159 529 550 1159 550 1159 376 550 1159 551 1160 1376 550 1159 178 Pages nk of New York: (continued) Staff: (continued) Clarke, John J., Assistant Counsel & Assistant Secre4/7 tary, salary approved 7/23 Salary approved Colley, Joseph W., salary in excess of maximum approved 4/20 Coombs, Charles A., extension of leave at request of 10/22 FCA 4/20 approved maximum of excess in Connelly, Edward, salary Crosse, Howard D., Manager, Collection Department, 4/7 salary approved 7/23 Salary approved in Government Philippine to loaned be Services to connection with establishment of central, 12/13 bank, no objection to 4/7 Davis, F. T., Asst. Vice President, salary approved 7/23 Salary approved Davis; N. P., Asst. Vice President, salary approved 4/7 7/23 Salary approved 4/7 Dillistin, W. H., General Auditor, salary approved 7/23 Salary approved Dommeleers, Charles h., appointment as assistant exam6/24 iner approved 4/7 Douglas, E. 0., Vice President, salary approved 7/23 Salary approved Farnon, Joseph H. P., Alt. Asst. FRAgent, salary 12/10 approved Fitchen, Paul R., Manager, Cash Custody Department, 4/7 salary approved 7/23 Salary approved 6/24 'eY, Frederick L., appointment as examiner 6/24 rrfinkel, Joseph, appointment as examiner approved arlrY, George, study, Debits and Clearings Statistics, ' Their Background and Interpretation, avail3/11 able for distribution, advice to FRBanks Glaessner, P. J., to serve as member of technical staff 8/13 of Brazilian mission 10/22 , Assignment to Brazilian Mission vrant, John, services to be loaned to Board for work on Regulation W, expenses to be paid by 8A8 FRBank of New York Reimbursement approved for deposit on cottage forfeited in order to assist Board in work 9/22 on Regulation W Letter of appreciation for assistance in reinstitu9/24 tion of RegulationY Harri RFC -s, M. A., Manager, Government Bond Dept., and 4/7 Custody Dept., salary approved 7/23 Salary approved 10/8 He, Salary as assistant General Auditor approved lnl, 'illiam A., Manager, Personnel Dept., salary 4/7 approved Salary approved 7/23 P http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 551 1160 612 1805 612 550 1160 2113 550 1159 550 1159 551 1160 1019 550 1159 2102 550 1160 1019 1019 356 1284 1805 1323 1599 1615 550 1160 1726 551 1160 ...,_ Fiza,/L it of New York: (continued) Staff: (continued) Hennessy, Edward J., salary in excess of maximum 4/20 approved for temporary period 5/3 noted Salary, correction 6/24 approved examiner assistant Appointment as Hickman, Arthur A., salary in excess of maximum 4/20 approved Keane, Lawrence F., salary in excess of maximum approved 4/20 4/7 Kimball, H. H., Vice President, salary approved 7/23 Salary approved approved salary 4/7 President, Kaoke, L. W., Vice 7/23 Salary approved 4/20 of aPProYed excess maximum in Kohler, Alois R., salary Kohler, Raymond A., salary in excess of maximum approved 4/20 Icybal, Mille, granted leave to act as consultant to 10/22 Economic Commission for Latin America Lang, Peter P., Manager, Foreign Department, salary 4/7 approved 7/23 approved Salary Lister, Gerard R., Alt. Asst. FRAgent, appointment and 2/6 salary approved 12/10 Salary approved 12/30 Salary approved salary Counsel, Gen. & Pres. Logan, 'Walter S., Vice 4/7 approved 7/23 Salary approved Marsh, S. S., Jr., Manager, Securities Dept., salary 4/7 approved 7/23 Salary approved Dept., Check Government Manager, MeLauglain, M. J., 4/7 salary approved 7/23 _ Salary approved mesler, Kenneth B., appointment as assistant examiner 6/24 approved Meyer, Harry J., appointment as examiner to participate 10/26 in examination of Chase Bank, New York approved 4/7 Miller, S. A., Asst. Vice President, salary 7/23 _. Salary approved Ilttricker, Franklin F., appointment as assistant 11/24 examiner approved Moore, 0. Ernest, proposed trip to Europe, no objection 4/2 to 4/7 approved Manager, Research Dept., salary 7/15 Southard Mr. Member of Brazilian Mission, letter to m 7/23 Salary approved ulveY, James P., designation as special assistant 6/24 examiner Obermayer, assistant special Charles J., designation as 11/24 examiner 010 apmaximum of onnor, Joseph J., salary in excess 4/20 proved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 179 Pages 612 698 1019 612 612 550 1159 550 1159 612 612 1805 551 1160 159 2102 2241 550 1159 551 1160 551 1160 1019 1816 550 1159 1973 529 551 1120 1160 1019 1973 612 FIREalak of New York: (continued) Staff: (continued) Peterson, Franklin E., Manager, Bank Relations Dept., 4/7 salary approved 7/23 Salary approved 4/7 Phelan, A., Vice President, salary approved 7/23 Salary approved 6/24 Pierce, John F., appointment as examiner approved 4/20 Pospisil, Joseph, salary in excess of maximum approved President and First Vice President, salary increases 6/25 not approved, Mr. Stevens to be advised 4/20 Prout, Claude C., salary in excess of maximum approved 12/10 Reynolds, Edna K., Alt. Asst. FRAgent, salary approved 12/30 . Salary approved 4/7 Roelse, H. V., Vice President, salary approved 7/23 Salary approved 8/13 mission To serve as member of Brazilian Rosa, Robert V., proposed trip to London, not justified 4/2 for expenditure involved after Trip to London and the Continent approved 5/7 consideration of further information 4/7 Rounds, L. R., First Vice President, salary approved 7/23 Salary approved 4/7 Rouse, Robert G., Vice President, salary approved 7/23 Salary approved salary Rozell, Walter H., Jr., Manager, Foreign Dept. 4/7 approved 7/23 Salary approved Rushmore, Walter S., Special Assistant in Foreign Department, three-month study trip to 4/2 Europe, no objection to Sanford, H. L., Asst. Vice President, salary approved 4/7 7/23 Salary approved Scheffer, Ralph W., Manager, Check Dept., salary 4/7 approved 7/23 , Salary approved °Ilackleton, William E., appointment as examiner ap6/24 proved h She . 4/7 approved salary e--n, W. F., Chief Examiner, 7/23 Q Salary approved . Pr°u1) Allan, President: Executive of APpointment as Vice Chairman 5/14 Committee of FOMC accompanying to objection Bogota Conference, no Secretary Snyder as adviser, discussion of procedure for future requests for foreign missions, Mr. Szymczak to have drafts of 4/7 letters prepared Bogota Conference, to accompany Secretary Snyder as adviser, no objection but procedure for 4/9 future requests suggested http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 180 Pages 551 1160 550 1159 1019 612 1025 612 2102 2241 550 1159 1284 529 722 550 1159 550 1159 551 1160 529 550 1159 551 1160 1019 550 1159 774 553 568 F 1113%Dix of New York: (continued) Staff: (continued) Sproul, Allan, President: (continued) Closing of books for year, objection to change in accounting practices and to setting up of contingent reserve, discussion but no change 12/31 to be made in instructions City Bankers Reserve of Association Conference of with staff members of Board, letter correcting impressions received from report of Com5/6 mittee on Correspondent Bank Relations of up addisetting re letter reserves, Contingent tional at end of year and comments re his preference for credit to surplus, copies, sent 12/28 to FRBanks re Congress to message President's Effect of European Recovery Program bill and military service, questions raised in connection with 3/19 policies of System Foreign mission to Japan, mentioned as possible 5/10 selection for Material to be used in considering questionnaire submitted by Hoover Committee in field of Govern5/27 ment lending Questionnaire on government lending, request for material to aid in work as member of Hoover 5/14 Commission Reserve requirements, proposed increase, wire stat5/30 ing opposition to action at present 4/7 Salary approved 7/23 Salary approved Stevens, Robert T., FRAgent, designation for 1948 5/14 12/14 Redesignation for 1949 12/10 StrYker, Jere V. D., Asst. FRAgent, salary approved 12/30 Salary approved 4/7 Tenkrck, 0. v., Asst. Vice President, salary approved 7/23 Salary approved Tiebout, T. G., Assistant General Counsel, salary 4/7 approved 7/23 T Salary approved iernan, John J., Jr., salary in excess of maximum 6/21 approved Secretary, TI"eiber, William F., Asst. Vice Pres. and 4/7 salary approved 7/23 . Salary approved salary Irlmble, Rufus J., Assistant General Counsel, 4/7 approved 7/23 T,Salary approved 4/20 approved maximum ume4) Frederick, salary in excess of an Houten, Chas. N., Manager, Cash Dept., salary ' 4/7 approved 7/23 Salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 181 Pages 2258 714 2233 390 746 861 780 879 550 1159 768 2116 2102 2241 550 1159 551 1159 979 550 1159 551 1159 612 551 1160 FRBank of New York: (continued) Staff: (continued) Wallich, Henry C., proposed trip to Europe, no objec4/2 tion to Leave of absence for foreign mission, no objection to, but information before definite arrange6/18 ments in future desired 10/22 ECA of request leave at Extension of Varner, Walter C., Acting Mgr., Credit Dept. and 10/8 Discount Dept., salary approved 4/7 salary approved Dept., Check Manager, Wendell, Roy E., 7/23 Salary approved salary Dept., Accounting Manager, Vessel, Harold M., 7/23 . approved Salary approved 4/7 Williams, John H., Economic Adviser, salary approved, with arrangement for full or part-time 4/7 service 7/23 Payment on Pull or part-time basis approved 4/7 Willis, V., Vice President, salary approved 7/23 Salary approved 4/7 Viltse, R. B., Vice President, salary approved 7/23 Salary approved Wurts, J. H., Asst. Vice President, salary approved 4/7 7/23 Salary approved No objection to service as member of Planning 8/23 Board of Township of Mahwah, New Jersey Substitutions in undermargined account under recent rnendment to Regulation T., reply to inquiry re Filtit ,,_ 4/8 lot order Philadelp i;ofht: 817et for 12/27 1949, approved 12/28 Erget, expenses in excess of estimate for 1948 approved 'Llnination reports of State member banks, data re salaries of bank officers and employees, use by Chief Examiner Fenner for discussion of personnel relations at conferences authorized 3/26 1lnotes 12/14 3 supplemental order for printing P019 °III, Frank M., considered for appointment as Class C director and designation as Chairman and 6/8 FRAgent Salaries: kl .PloYees, approved 'PloYees, minimum and maximum salaries approved for arespective grades 0 OffJeers, tztaff: Agnew, James A., Jr., designation as special assistant examiner Boy,p, Bop P, Karl R Vice President, salary approved Brak er, Elwood J., Alt. Asst. FRAgent, salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 182 Pages 529 973 1805 1726 551 1160 1160 551 551 1160 550 1159 550 1159 550 1159 1352 562 2213 2237 457 2126 906 3/4 305 9/13 4/23 1494 637 11/19 4/23 1945 638 1710 FRBa nk of Philadelphia: (continued) Staff: (continued) Brennen, Francis A., designation as special assistant examiner Brusch, James F., designation as special assistant examiner Burr, Glendon M., Alt. Asst. FRAgent, salary approved Cagno, Victor S., designation as special assistant examiner Catanach, W. M., Assistant Cashier, salary approved Cortez, Fabian 0., designation as special assistant examiner Counsel, outside counsel to be discontinued after May 1, 1948, letter as reminder of Board's position to be sent to Employment of outside counsel to be discontinued, letter to FRBank Dash, Norman G., General Auditor, salary approved Davis, W. J., First Vice President, salary approved Donaldson, L. E., Assistant Vice President, salary approved Salary as Vice President approved Forte, Samuel G., designation as special assistant examiner Grigalunas, Stanley J., appointment as assistant examiner approved Herion, Matthew J., Jr., designation as special assistant examiner Hetherington, Roy, Assistant Cashier, salary approved Hilkert, Robert N., Vice President, salary approved Hill, E. C., Vice President, salary approved Hcllenshead, David S., designation as special assistant examiner Kirn) Paul E., designation as special assistant examiner Lee) • William M., designation as special assistant examiner Mao, -e3r, Wm. 0., Jr., designation as special assistant examiner McCabe, Thomas B., Chairman and FRAgent, resignation accepted, to become member of Board of Governors McCreed-, .r Wm. G., Vice President and Secretary, salary approved Ilerbenald, John J., designation as special assistant examiner MeIlhenAy, C. A., Vice President, salary approved until retirement 14°I.an) Vincent J., designation as special assistant examiner Mun+ --z) James H., designation as special assistant examiner http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 183 Pages 11/19 1945 9/23 10/6 1603 1710 11/19 4/23 1945 638 11/19 1945 3/9 336 3/23 4/23 4/23 413 638 637 4/23 12/9 638 2094 11/19 1945 9/24 1616 11/19 1945 638 4/23 638 4/23 638 4/23 9/23 1603 11/19 1945 9/23 1603 11/1° 1945 4/15 587 4/23 637 11/19 1945 4/23 638 11/19 1945 11/19 1945 184 Pages 1.1Bamk of Philadelphia: (continued) Staff: (continued) Peterson, E. Hammitt, salary below minimum approved for 3/4 temporary period Foorman, P. M., Vice President and Cashier, salary 4/23 approved Poplawski, Edwin J., designation as special assistant 11/19 examiner 10/6 Rehfuss, J. Frank, Assistant FRAgent, salary approved Reiter, Stanley W., designation as special assistant 11/19 examiner Shea, Jeremiah P., designation as special assistant 9/23 examiner Traynor, James h., designation as special assistant 11/19 examiner Vergari, J. V., Asst. Vice President, Counsel and 4/23 Asst. Secretary, salary approved 12/9 . Salary approved Wlgo, Charles H., Jr., appointment as assistant 8/19 examiner approved salary President, Assistant Vice G., Richard Wilgus) 4/23 approved 4/23 Williams, Alfred h., President, salary approved 5/14 Member of executive committee of FOMC Address before U. S. savings bond conference in St. Paul, Minn., cost of printing copies for distribution by Treasury to be borne by FRBank, no objection with certain changes 10/19 made in Williams, R. R., Assistant Vice President and Assistant PIRElawc 4/23 Secretary, salary approved of Richmond: get, expenses in excess of estimate for last half of 1947, 1/5 acknowledgment of letter re 7/7 yicreases for 1948 approved 12/9 penses in excess of estimate for 1948 approved 1949 approved, but increases in Personnel function 12/27 noted I IltaPloy 1/9 Exttmi ees loan fund, temporary increase approved Chairof Ilation, copy of report left for information 8/31 man and directors, comments requested 1111totes 1/21 ) supplemental order for printing : uPPlemental order for printing 10/11 Gi4s UPPlemental order for printing ' 12/14 8) Carter, personal papers, question of employment of person by Bank to classify, Board not in 8/19 favor of, Mr. Morrill to advise Mr. Leach RegUlati 10/12 installation n 021 W, applicability to bottled gas 'alestion of maximum maturity of loan with one half for purchase of listed article and other half Salaries: 10/14 unclassified, reply to inquiry 41Ployees, approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/20 305 638 1945 1710 1945 1603 1945 638 2094 1335 638 637 774 1784 638 11 1096 2098 2210 44 1411 98 1737 2126 1332 1751 1759 246 185 Pages PRBank of Richmond: (continued) Salaries: (continued) Officers, approved Personnel classification plan, increase in minimum and maximum approved Staff: Armistead, N. L., Chief Examiner, salary approved Bennett, Edward L., appointment as assistant examiner approved Appointment as examiner approved, formerly assistant examiner Brock, H. S., Jr., Auditor, salary approved Brooks, Jack M., designation as special assistant examiner Carter, Samuel, salary in excess of maximum approved Creery, Presley T., appointment as examiner, formerly assistant examiner Curry, Margaret, salary above maximum approved Ellsworth, Jesse Harold, appointment as assistant examiner L., Vice President and Cashier, Claude Guthrie, salary approved Higgason, Beverley P., Alt. Asst. FRAgent, salary approved Hunter, Thomas L., Jr., appointment as assistant examiner Jennings, Percy Wray, appointment as assistant examiner approved Kincaid, Elbert A., Vice President, salary approved Knapp, Joseph C., salary in excess of maximum approved Lamkin, Alice B., Return Checks Clerk, salary below minimum approved for six months Leach, Hugh, President, salary approved Mallon', Thelma, salary above maximum approved Salary in excess of maximum approved Martin, Upton S., Assistant Cashier, salary approved McCormick, Charles P., FRAgent, designation for 1949 McLean, Ernest C., Jr., designation as special assistant examiner Mercer, Roger 7., Vice President, salary approved Miller, Robert L., appointment as examiner approved, formerly assistant examiner Mills, U. Howard, Examiner, salary below minimum approved for six months Nowlan, Joseph M., Assistant Cashier, salary approved Paxton, L. Harold, designation as special assistant examiner Puller, Sallie M., tteturn Checks Clerk, salary below minimum approved for six months Redford, Katherine C., salary in excess of maximum approved Scott, harold M., designation as special assistant examiner http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/14 949 5/18 792 6/14 949 2/20 246 12/24 6/14 2199 9/23 7/9 1603 1100 9/10 2/20 1488 246 7/30 1183 6/14 949 949 6/16 957 10/25 1811 3/15 6/14 7/9 366 949 1100 7/9 6/14 2/20 7/9 6/14 12/23 1100 949 246 1100 949 2187 8/25 6/14 1382 949 5/27 873 7/9 6/14 1100 949 7/2U 1136 7/9 1100 7/9 1100 7/20 1136 FRBank of Richmond: (continued) Staff: (continued) 6/16 Shepherd, Robert L., Asst. FRAgent, salary approved 12/10 Salary approved Snead, G. Harold, Assistant Chief Examiner, designated FRExaminer to participate in examination 2/19 of National Bank of Haiti la de Nationale Republique Banque Examination of d'Haiti, completion of mission, letter to 5/27 Mr. Leach re services Strathy, Clair B., Vice President and Secretary, 6/14 salary approved Thompson, George E., Jr., Alt. Asst. FRAgent, salary 6/16 approved Tucker, Jesse R., salary in excess of maximum approved 7/9 6/14 Wakeham, Wythe B., Assistant Cashier, salary approved Walden, John S., Jr., First Vice President, salary 6/14 approved 6/14 Wallace, Maxwell G., Counsel, salary approved Waller, Edward, Jr., Assistant Cashier, salary approved 6/14 Watson, K. Brantley, Director of Personnel, salary 6/14 approved VaYne, Edward A., Vice President, salary approved 6/14 FIRBanic Wiggins, A. L. M., designation as FRAgent for 1949 12/17 of St. Louis: Acee ptances, bankers, interpretation of provisions of section 6 of Regulation Q relating to 3/11 Bealkeligibility for discount of ng quarters, discussion of rehabilitation of Nugent Building, Messrs. Dearmont and Smith to submit proposal for consideration at Board meet5/18 ing No objection to expenditure for rehabilitation of Nugent 6/1 Building No objection to conversion of generating equipment to 7/22 emergency status No objection to expenditure for conversion of generating 9/16 equipment No objection to expenditure for completion of rehabilita9/29 tion of Nugent building 13Udget 12/15 Budget) expenses in excess of estimate for 1948 approved Build, for 1949 approved 12/27 bcallo'-flg Committee, to meet with Board on May 18 5/6 -Lnation report, discussion of official staff problems, Chairman McCabe to discuss matter with 9/10 Mr. Davis Di seuesion in connection with problems of official staff 9/29 °PY of report left for information of Chairman and directors, comments requested, advice requested re additional half-day off taken by certain officers and need for revising Vault 10/7 rules and regulations http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 186 Pages 957 2103 240 872 949 957 1100 949 949 949 949 949 949 2150 352 795 893 1147 1524 1635 2134 2213 718 1486 1636 1716 187 Pages FEBank of St. Louis: (continued) FRnotes, supplemental order for printing 2/3 5/18 Supplemental order for printing 12/14 Supplemental order for printing Insurance: Group life, accounting method, reply to letter re con12P8 tinuance of procedure S alaries: Employees, approved 3/3 Officers, continuation at existing rates approved until consideration of recommended changes, informal advice of changes due from Banks 30 days prior 6/1 to date due 6/25 Approved Sub stitutions of securities under Regulations T and U as recently amended, sale and purchase required to occur on same day to offset purchase in undermargined account, advice to 4/8 Staff: Arthur, L. K., Assistant Vice President, salary approved 6/25 6/25 Attehery, Olin M., Vice President, salary approved BuJewski, Edward, salary below minimum approved for temporary period 3/3 Carstarphen, L. H., General Counsel and Secretary, 6/25 salary approved 6/25 Davis, Chester C., President, salary approved To be invited to discuss executive organization of 6/25 Bank with Personnel Committee To meet with Chairman McCabe to discuss official 9/10 staff at bank Dearmont, Russell L., FRAgent, redesignation for 1949 12/14 D eekert, Laura B., salary below minimum approved for temporary period 3/3 Deming, F. L., Assistant Vice President, salary 6/25 approved DivikY, Anna E., currency sorter, salary below minimum approved 3/3 4ecutive organization, Messrs. Dearmont and Davis to be invited to discuss with Personnel Com6/25 mittee Polger, Thomas L., designation as special assistant 11/26 examiner Fra Department, -ncis, Darryl, Economist "A") Research 9/22 salary in excess of maximum approved Ga leby J. H., Assistant Vice President, salary 6/25 approved Gilmore, S. F., Assistant Vice President, salary 6/25 approved 6/25 F. N., Assistant Vice President, salary approved 6/25 -""t, F. Guy, First Vice President, salary approved To leave Bank after end of service as president of 9/29 Rotary Club, statement of Mr. Davis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 143 799 2127 2235 300 881 1026 563 1026 1026 301 1026 1026 1026 1487 2118 301 1027 301 1026 1983 1592 1026 1026 1026 1026 1638 188 Pages Of St. Louis: (continued) Staff: (continued) Hitt, F. Guy, (continued) Resignation to be made at end of calendar year, statement of Mr. Dearmont in discussion of 12/13 situation with Chairman McCabe Hollocher, G. O., Assistant Vice President, salary 6/25 approved 7/27 Hoppe, Edward H., Alt. Asst. FRAgent, salary approved Levin, Dorothy, salary below minimum approved for 3/3 temporary period Lewis, Dale M., appointment as Chief, Regulation W Section of Division of Bank Operations at 9/23 Board and salary approved Official, discussion of problems re, Chairman McCabe 9/10 to discuss matter further with Mr. Davis Problems in connection with, discussion, conditions to be reviewed and Messrs. Dearmont and Davis to be requested to come to Washington to discuss, Mr. Morrill to prepare statement for discussion at meeting after return of 9/29 Mr. Vardaman from vacation Problems in connection with, report of Mr. Vardaman of talk with Mr. Davis and advice re Board's 10/1 procedure to be followed Chairman Morrill, Discussion of memorandum of Mr. McCabe to discuss matter with Mr. Dearmont 11/23 when in Washington Dearmont, with Mr. McCabe Chairman Discussion of memorandum of Mr. Morrill given to Mr. Dearmont for study before further discussions 2/13 Parker, Frank S., Assistant FRAgent, salary approved 7/27 6/25 : E., Vice President, salary approved 111! 6/25 Vice President, salary approved eigel, Howard H., Assistant Vice President, salary 6/25 approved Witte: Elmer H., salary below minimum approved for 3/3 temporary period V° 6/25 zeta, J. C., General Auditor, salary approved Pko 5/19 -41411c of ,_ r, Edward A., Alt. Asst. FRAgent, salary approved odn Francisco: '", two balance sheet audits of each branch to be made 2/26 during calendar year get for 1948, expenses in excess of estimates for 7/22 Research and Statistical function approved PAn. h 12/7 "Ises in excess of estimate for 1948, approved txti le it for 1 12/27 949 approved nation of, policies of examination departments, 1/6 question raised by Re-°-‘. b presented to Directors, audit program re branches to be reviewed, two balance sheet audits of each branch to be made for each year, views of Directors requested 1/13 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2111 1026 1170 301 1602 1486 1636 1663 1966 2111 1170 1026 1026 1026 301 1026 800 257 1148 2088 2213 18 61 189 Pages 1113arik of San Francisco: (continued) Ekamination of correspondence with Bank of Italy in 19171920 re establishment of branches, no objection to PRnotes, supplemental order for printing Supplemental order for printing Retirement system: Disability retirements, benefits to be granted in cases of involuntary separation, advice to Salaries: Employees, minimum and maximum salaries approved for respective grades Officers, approved Staff: 1667 10/1 62 1/13 11/12 1897 2/2 138 9/30 4/23 1645 639 Agnew, Albert C., Vice President and General Counsel, 4/23 salary approved 4/23 Armstrong, H., Assistant Cashier, salary approved 4/23 Barrett, T. W., Assistant Cashier, salary approved 12/3 Salary approved 8/31 Bickmore, James Grant, appointment as examiner 4/23 Earhart, C. E., President, salary approved Galvin, E. H., Alternate Assistant FRAgent, salary 6/28 approved 12/1 Salary approved Glascock, Robert Paul, appointment as assistant examiner approved, no objection to indebt4/21 edness to San Francisco Bank Godfrey, John V., designation as special assistant 10/25 examiner Hansen, W. W., designation as special assistant 7/1 examiner approved 4/23 salary 1,arY, 1 R. T., Assistant Vice President, narmon, Myron J., appointment as assistant examiner 6/4 approved Heron, E. A., designation as special assistant examiner72/23 4/23 i?lman, F. H., General Auditor, salary approved Larsen, LeRoy, appointment as assistant examiner 8/26 approved Leisner, J. M., Vice President and Cashier, salary 4/23 approved Li 12/23 examiner assistant : i ;dE., designation as special Malli , E. C., Assistant Vice President, salary 4/23 approved 4/23 Mangels, H. N., First Vice President, salary approved McFarland, D. C., designation as special assistant 7/1 examiner Milliken, R. C., Assistant Cashier, salary approved 4/23 u_ Salary approved 12/3 8/27 Zrrill, R. H., Assistant Cashier, salary approved eff, Franklin, appointment as examiner approved, obligation to Bank of America N. T. & S. A. 12/9 to be transferred to nonbank holder l http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 640 640 640 2045 1411 639 1055 2007 616 1812 1070 639 900 2194 640 :::: 639 639 639 1070 640 2045 1394 2094 190 Pages of San Francisco: (continued) Staff: (continued) O'Kane, John A., Assistant General Counsel, salary approved Osmer, J. M., Assistant Vice President, salary approved Randall, J. A., Assistant Cashier, salary approved Raplee, E. M., designation as special assistant examiner Slade, H. F., Vice President, salary approved Stone, P. M., Assistant FRAgent, salary approved Symms, Ronald T., Assistant Vice President, salary approved Volberg, W. F., Vice President, salary approved Wheeler, O. P., Vice President, salary approved FR flkS Wilbur, Brayton, FRAgent, redesignation for 1949 ' 14 Accounting procedure, simplification of, Form FR 34 and Manual of Instructions to be revised, advice to FRBanks Ass essiaents: Expenses of Board for last half of 1948 Expenses of Board for first half of 1949 Printing presses, purchase from Bureau of Engraving and Printing, views of FRBanks requested Au thority to purchase Government securities directly from Treasury, discussion in connection with emergency legislation to be drafted by Security Resources Board National Banki rig quarters, construction work not to be approved when substantial sum involved unless emergency case, letter to be prepared by Mr. Smead Building construction, extensive alterations or improvements or new building projects not to be undertaken at present except in emergency cases, advice to Emergency electric power, information requested re equipment, letter to FRBanks Information re facilities and plans for evacuation of other Government agencies to be obtained before discussion of matter at meeting in September Memorandum from Mr. Bethea discussed, matter to be placed on agenda for Presidents Conference Emergency facilities to be topic for discussion at Presidents Conference Emergency facilities, uniform treatment of matter considered impossible, discussion at Presidents Conference 13141get procedures, studies re, letter to FRBanks requesting comments and suggestions, topic to be placed on agenda for Chairmen's Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4/23 4/23 4/23 640 639 640 7/1 4/23 12/1 1070 639 2007 4/23 4/23 4/23 12/14 640 639 639 2118 12/13 2114 6/17 12/31 965 2263 10/8 1722 4/14 580 1/16 80 2/27 265 6/2 897 7/20 1129 9/10 1479 9/15 1511 10/5 5/14 1701 775 191 Pages FRBanks: (continued) Budget procedures: (continued) Modification to eliminate unnecessary work and changes 7/6 in form 634 (a) Budget for 1949 and subsequent years, instructions re statement of Bank and Public Relations pro7/13 gram, advice to FRBanks 1949, submitted by Mr. Smead with draft of letter to 12/6 each FRBank Research function, discussion of proposed increase for 12/6 1949 Chairmen's Conference to appoint committee to work with two Board members to develop standards for research and statistics, bank and 15ub1ic 12/6 relations, and provision of personnel Bank and public relations function, discussion of pro12/6 posed increase for 1949 Examination function, discussion of salaries for examiners, comparison with salaries of other agencies to be considered and question to be discussed at Presidents Conference, 12/6 FRBanks to be advised 1949, audit function, discussion, review by Mr. Millard of conference with auditors of 12/6 Banks 12/6 Personnel function, discussion of increases Approved with certain exceptions, letters to be sent to Presidents with copies for Chairmen if desired, budgets to be sent to Presidents copies handed to Chairmen at Conference 12/ 6 and CEr eteria, absorption of expenses, to be continued, discussion at Presidents Conference, study of efficiency of operation to be continued 5/21 under present budget procedure CaPital accounts, increase in, discussicn at Presidents Conference, contingent reserves to be enlarged, matter to be discussed further 10/5 by Board adfollowed, be to Cl°sing of books for year, procedure 12/28 vice to FRBanks Objection of Mr. Sproul to change in accounting practices, discussion of setting up of contingent reserve, no change to be made in 12/31 instructions Dividends, semiannual payment for first half of 1948 6/23 approved 12/28 4r ,emiannua1 payment for last half of 1948 approved flgs, additions to contingent reserves to build them ' up to premium on Government securities and probable reduction in amount payable to 11/23 Treasury , Earru 12/28 Smead Mr. of memo for 194,, 'Gs and expenses http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1089 1116 2047 2049 2050 2051 2053 2054 2064 2064 815 1698 2232 2258 1018 2230 1964 2230 192 Pages FRRanks: (continued) ECA, assistance to Administrator, services not to be used 7/13 at present, auvice to Mr. Sproul with in connection discussed variations, Examination policy, report of FEBank of San Francisco, Mr. Clayton 1/6 to study matter further of Board entire or committee Review with executive Directors rather than with Chairman only, suggestion of Mr. Vardaman discussed but 9/10 no action taken Mr. Millard authorized to institute and conduct for 12/9 1949 Expenses, request of Treasury to absorb certain fiscal agency expenses, policy to be topic fot 6/25 discussion at Conference of Presidents Card checks as Agent of Treasurer of United States, 12/30 absorption approved FRnates , printing requirements for 1949, order placed with 6/21 Bureau of Engraving and Printing Indebtedness and outside business relations of officers 3/24 and employees, advice to FRBanks re policy Leave regulations, no change to be made in vacation, but sick leave to be limited to six months in two-year period with exceptional cases to be submitted to directors or executive com4/2 mittee Loans to employees, no objection to continuance but limit 3/12 set Sharing Agreement, amendments proposed by Presidents 4 " Conference approved by Board, advice to 5/21 Mr. Leach Maps showing FRDistricts and branch territories, purchase approved, copies to be furnished to member 3/31 and nonmember banks Net earnings, reduction in portion paid to Treasury as interest charge on FRnotes, memorandum to be prepared for Board members, matter to be placed 5/25 on docket for future consideration °fficers: Loan to Board for short period to assist in work of 4/23 Chairman's Office suggested Requests by Government agencies to go on foreign 4/7 missions should be submitted to Board be Visits to offices of Board, members of Board to 4/2 notified by Office of Secretary Clutsira ,4e business and teaching activities, letter to be 1/23 prepared for consideration Per, 'flnel classification plans, procedure for exceeding 5/21 maximum of salary ranges Print'ng Secretary presses, purchase of, advice to Acting 10/18 of the Treasury Foley Pror, t'rtY owned by, information furnished to Congressmen 2/18 iielch http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1115 18 1.486 2097 1051 2224 980 438 505 364 828 494 840 648 554 502 105 816 1776 222 193 Pages PREanks: (continued) Representatives to participate with representatives of Division of Bank Operations in field sur11/23 veys of operations of FRBanks Salaries: Officers, Balderston Report to be revised, Mr. Evans, as senior member of Personnel Committee to 1/9 work with Chairmen's Conference Committee to date prior days Informal advice of changes due 30 6/1 due to on pass Board requiring Junior officers, plan not 7/15 individual cases discussed be to information Officers, procedure for considering, sent to Board re in advance of time foi for8/3 mal action, advice to FRBanks Staff: Economists, discussion of titles of top men and official status of positions, to be placed on agenda 9/14 for Presidents Conference Presiby no objection senior, Officer status for 10/5 dents, Board to consider matter further re FRBanks to advice senior, Official status for change in status of three employees at 10/28 FRBank of Chicago disstaff, examining Officers of branches or senior cussion of changes with Board before action, matter to be placed on agenda for next meet8/24 ing of Presidents Conference Mr. to letter Board, with Discussion of changes Davis, Chairman of Presidents Conference, not 8/31 to be sent, further action to be deferred C3fficers and employees, service in civic and community 12/27 positions, advice to FRBank of Atlanta Officers in charge of Examinations and Research and 12/3 Statistics, procedure for appointment President and First Vice President, appointment, suggestions by Board re, discussion in connection with possible resignation of Mr. 8/6 Whittemore at Boston Presidents, appointment of, procedure approved 12/3 ocedure Pr, 811140_ re appointments and salary changes approved 12/3 accounts, discussion at Presidents Conference of plan for changing arrangement for payment of 90 per cent of net earnings to Treasury, 5/21 matter to be considered further of operations, representatives of FRBanks to participate with Division of Bank Operations, matter to be taken up with Chairman of Presidents Conference Committee on Operations to determine possibility of arrange11/23 ments for http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1963 41 881 1118 1218 1498 1687 1830 1365 1406 2204 2040 1243 ) 0 t.( 819 1963 194 Pages FRBulletin: Consumer Instalment Credit, Regulation W, statement to 8/26 be published in Automobile Appraisal Guides and Transactions Initiated Before Effective Date of Regulation, state9/30 ments to be published in Statements re air conditioners, medical expenses, and summaries of outstanding interpretations to 10/21 be published in November issue Statements re amendment to Regulation W, preservation of records, conversion of non-instalment credit to instalment basis, amendments to summaries of previously published inteuretations, deliveries in anticipation of sales, and sets and groups of articles to be pub12/27 lished in January issue Statements re several subjects to be published in 11/19 December issue Criminal Code, amendments to FRAct, statement to be pub8/26 lished in Essav by Mr. Solomon on Steps to hestore Powers of States and Localities, to be listed in October issue and copies to be available upon re10/5 quest, advice to FRBanks For eign Funds Control, Treasury Department Release, state2/25 ment to be published in March issue published Treasury Department Release, statement to be 8/26 in Attorney Executive Order transferring jurisdiction to General and Treasury Department release, 9/30 statements to be published in Legislation, consumer credit and bank reserves, articles 8/26 to be published in Peoples Bank v Eccles, et al, suit regarding condition of membership, statement to be published in 3/18 April issue Real estate loans, Reconstruction Finance Corporation participation, statement to be published in 6/2 June issue Regulation D, amendments,and amended Supplement to, to be published with introductory statement in 9/10 September issue Regulation F, section 17 (c) (5), ruling to be published 8/27 in next issue, advice to FRBanks Regulation J, amendments with statement to be published in 11/29 December issue Reg LI amendment to section 3, to be published with 7/1 introductory statement Regulations m i and U, Amendments No. 7 and No. 8, respectively, with press release to be published in 3/9 March issue http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1391 1647 1797 2215 1949 1392 1708 255 1392 1647 1391 385 898 1493 1396 1994 1074 344 195 Pages PRBulletin: (continued) Regulation 111 statement re status of previous rulings under, 8/27 to be published in September issue in published be to statement Amendment No. 1 with press November issue, revised statement re summaries of interpretations to be substituted 10/28 for earlier material anticipain article Section 6(g), delivery of listed tion of instalment sale, interpretation to 12/14 be published in, advice to FRBanks be to pubstatement banks, Reserves, central reserve city 1/27 lished in February issue pubbe to statement Classification of reserve cities, 2/25 lished in March issue published be to statement Central reserve city banks, 6/2 in June issue State Bank Membership, amendment to Regulation H, statement 8/26 to be published in Substitutions in undermargined accounts under recent amendment to Regulation T, ruling to be published 3/26 in, advice to FRBanks United States Savings Bonds, valuation in common trust funds, statement to be published in, letter 3/24 Federal to FRBanks enclosing copy Colon Committee Reserve exchange drafts, report of 1/23 lections on issuance and payment approved FRBarar 5/7 -- of Atlanta, supplemental order for printing 5/21 SuPplemental order for printing 12/14 1118 SuPplemental order for printing 3/10 Illak of Boston, supplemental order for printing 12/14 118 Supplemental for printing 12/14 pRenk of Chicago, supplemental order for printing 12/14 printing for order of supplemental pimallic Cleveland, 4/28 link of Dallas, supplemental order for printing ' 6/4 ypob Supplemental order for printing 5/10 - 41:ik of Kansas City, supplemental order for printing ' 12/14 pz3aSuPplementa1 order for printing 12/14 FRB nk of New York, supplemental order for printing 12/14 pRiZrik of Philadelphia, supplemental order for printing 1/21 12k of Richmond, supplemental order for printing 10/11 °uPPlemental order for printing 12/14 pimstSuPPlemental order for printing 2/3 1,1k of St. Louis, supplemental order for printing , 5/18 2uPPlemental order for printing 12/14 p tt PPlementa1 order for printing 1/13 of San Francisco, supplemental order for printing 11/12 Gola uPPlemental order for printing ' reserve requirements against, legislation re, Board 8/5 not to issue statement until after passage To 4 8/18 for discussion at meeting of FAC http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1399 1832 2132 125 255 898 1391 459 441 113 740 829 2127 349 2126 2127 2126 683 901 752 2127 2126 2126 98 1737 2126 143 799 2127 62 1897 1228 1324 196 Pages PRnotes: (continued) Interest rate, establishment for three months period ending 1/2 December 31, 1947, advice to FRBanks Payment to Treasury for first quarter of 1948, provision for retirement of premiums on Government securities to be made before, discussion at Presidents Conference, matter to be 2/27 taken up with Treasury ending March 31, period Establishment for three months 4/27 1948, advice to FRBanks to Treasury, earnings Payment of 90 per cent of net discussion of plan for changing arrangement, at Presidents Conference, matter to be con5/21 sidered further memorandiscussion, in, Payment to Treasury, reduction dum to be prepared for Board members, matter to be placed on docket for future considera5/25 tion Existing arrangement not to be changed, but addition to reserves for contingencies to be made instead, Treasury and FRBanks to be advised, and matter to be placed on agenda for next Presidents 6/25 Conference 90% arrangement to be continued for present, addition to be made to reserves for contingencies, 7/1 advice to FRBanks Establishment for three months period ending June 30, 7/23 1948, advice to FRBanks Establishment for three months' period ending September 30, 1948, deduction for contingent 10/27 reserves to be increased to 415,000,000 PaYment to Treasury, discussion in connection with 11/23 question of enlarging contingent reserves Discussion in connection with question of increase 12/1 in capital accounts of FRBanks 12/16 Reply to inquiry from Mr. Falkner C. Broach re Paid tr, Treasury during year, interest on those not 12/28 covered by gold certificates PaYment to Treasury, telegram from Mr. Sproul on 12/31 accounting procedure Printing presses, purchase from Bureau of Engraving and Printing to increase production of, views 10/8 of FRBanks requested Nrchase for Bureau of Engraving and Printing, advice 10/18 to Acting Secretary of the Treasury Asse, ,,sment on FRBanks for purchase, advice to FRBanks 10/29 lng requirements for 1949, order placed with Bureau 6/21 Engraving and Printing 928of 1 Series, P RBaLut of Boston, to be canceled and forwarded to 2/10 Treasury for destruction http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 287 679 819 840 1030 1072 1155 1822 1964 2020 2140 2231 2258 1721 1776 1834 980 166 197 Pages -vstem: Courses on, discussion of bringing groups of college instructors to Washington for, in connection with public relations campaign, matter 1690 10/5 to be discussed further with Mr. Young Public relations, discussion of criticisms and of campaign to improve, at meeting of Presidents Confer1689 10/5 ence with Board Fede nil Savings and Loan Insurance Corporation: H. R. 2799, amendment to authorize Treasury purchase of obligations, request of Mr. Pace to hold meeting to discuss, Messrs. Vest and Thomas 7/20 1132 authorized to select representatives L41 Security Agency: Regulation W, enforcement, cooperation requested in letter 9/17 1526 to Mr. Orchard 44u. Trade Commission, procedure for discussion of matters with business contrasted with FAC discussions 11/16 1915 with Board Transamerica Corporation, complaint against, copy requested by Mr. Edwards, to be sent upon receipt of 1212 8/3 formal request Fergllson, Hon. Homer, trailer coach financing, reply to inquiry 654 4/26 Fiduciary from Mr. Bargman sent to powers: American National Bank and Trust Company of Chattanooga, Tennessee, application approved upon conversion from American Trust and Banking Company, Chattanooga, Tennessee Appl ications, policy of waiting one year for approval after organization of new national bank waived in case of Piedmont National Bank of 8/27 1394 331 3/8 Spartanburg, S. C. Brotr„,, applica41ield State Bank & Trust Co. Brownfield, Texas, ' -605 4/19 tion approved CIAY on National Bank of Centralia, Illinois, applicati 6/30 1064 approved COMrr, on applicati -Lercial National Bank of Hillsboro, Oregon, 1078 7/2 approved applica41Dolitan National Bank of Chicago, Illinois, ' 368 3/15 tion approved Ebe Ilezer State Bank, Ebenezer, New York, permission requested to exercise trust powers granted by State of New York, no objection to 704 5/5 servicing of mortgages Exel, "4nge National Bank of Chicago, Ill., application 12/15 2130 approved First on National Bank of Clayton, Missouri, applicati 10/15 1771 disapproved /\T First ,, on ational Bank in Gadsden, Alabama, applicati 476 3/29 approved First m on applicati -ational Bank of Leesburg Florida, 738 5/7 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pi . duclarY powers: (continued) First National Bank at Lubbock, Texas, application approved 7/27 First National Bank of Waco, Texas, application for addi7/9 tional powers approved Carolina, Guilford National Bank of Greensboro, North 5/10 application approved Gulf National Bank at Lake Charles, Louisiana, application approved upon conversion of Lake Charles 12/22 Bank and Trust Company into Hamilton National Bank of Chattanooga and Hamilton National Bank of Knoxville, applicability of Regulation F to sale of stock of estate to beneficiaries by banks as co-executors, decision 9/8 to be made by court Hillsdale National Bank, Hillsdale, New Jersey, application 9/23 denied Iowa Trust & Savings Bank, Estherville, Iowa, application 4/20 pp approved Kanawha objecno Virginia, Valley Bank, Charleston, West tion to continuation of powers acquired as result of merger with Central Trust Company 11/15 Lind , 12/1 , en State Bank, Linden, Indiana, application approved liational Bank of Commerce of Pine Bluff, Arkansas, applica7/28 tion approved Pi edmont National Bank of Spartanburg, South Carolina, application approved, policy of waiting one year after organization of new national 3/8 bank waived Pontiac application National Bank, Pontiac, Illinois, 8/27 approved erview State Bank, Kansas City, Kansas, proposed purchase of stock of trust company pro5/4 hibited by Federal statutes 6/17 approved application Texas, Pecos, of Securityst Bank State T14r Bank of Carthage, Indiana, application approved 11/8 14 departments, banks which have recently closed or opened, no objection to sending names and information to Mr. Seftenberg, Duluth, 4/15 advice to FRBank of Chicago Minn., Uni National Bank of Schenectady, New York, surrender 12/14 approved 1411,1_, 'lea National Bank, Wendell, Idaho, request for permission to act as trustee in connection with issue of debenture bonds by Gates Brothers, Inc., Wendell, Idaho, not approved 8/16 because of insufficient capital Re stricted authority to be granted upon advice of increase in capital stock and receipt of 9/1 formal application 11/30 APPlication for specific power approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 198 Pages 1171 1101 748 2181 1468 1606 614 1903 2007 1175 331 1395 701 964 1868 588 2121 1289 1420 1998 199 Pages Financial statements: St. Joe Paper Company, Jacksonville, Florida, copies sent to FDIC for confidential information and 5/25 use Fiscal agency operations: Expenses, payment of card checks, to be absorbed by FRBanks, recommendation of Committee on Fiscal Agency Operations approved, advice 12/30 to FRBanks FRBank of New Yorl.., request by ECA for services in payment of drafts drawn by participating countries on, discussion of providing limited services in order not to deprive commercial 11/23 banks of business, but no action taken Reimbursable expenses, absorption of certain requested by Treasury of FRBank, matter to be placed on agenda for next Presidents Conference, advice 6/25 to Mr. Davis Re by followed be to procedure FRBanks, imbursement of FRBank requested to absorb reimbursable fiscal agency expenses approved at Presi13/5 dents Conference Reimbursable expenses, absorption by FRBanks upon request of Treasury, procedure to be followed, 11/8 advice to FRBanks Fiscal and to invited be to Washington, financial writers of luncheon, Chairman McCabe authorized to make 6/8 Pi-her arrangements Y Honorable O. C., bank purchase of notes from Fruehauf Trailer Company, compliance with Regulation U, reply to question of Mr. and Mrs. Hirschie 5/19 Johnson sent to AMer. leeso lean and service on display, to be removed and stored 11/22 n) Doris, article in Evening Star re votes of Board members on changing of Chairman McCabe's statement, before House Banking and Currency 8/4 NLey, Raymond 14., Committee, discussion but no action taken Administrator, Housing and Home Finance Agency, Regulation W, reply to letter re amendment to include home repair and Porbes, 8. 10/6 modernization credits C., margin requirements, reduction in, reply to letter requesting views of Chairman McCabe 6/22 on present 75% requirements Lives tOrs League, Inc., reply to invitation to Chairman McCabe to attend meeting to discuss reduction 8/2 in margin requirements g4 a,_ Bcinc_-%;ounts: do Brasil as fiscal agent of Brazilian Government, opening of account by FRBank of New York 5/3 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 846 2243 1962 1051 1687 1869 911 802 1958 1224 1710 989 1202 699 200 Pages Foreign accounts: (continued) Bank deutscher Laender, remittance account, opening of account by FRBank of New York approved Gold and securities held in custody for, statement of procedure re foreign relationships of FRBanks amended to eliminate weekly telegraphic advice of earmarked, advice to FRBanks L iquidation proposed by National Advisory Council, no alternative proposal received by becretLry Snyder from banks Pore; -,gn banking corporations: zankers Company of New York, N. Y.: Condition report, call as of December 31, 1947 Call as of June 30 Chase Bank, New York, N. Y.: Condition reports, call as of December 31, 1947 Call as of June 30 Examination of, appointment of Harry J. Meyer as examiner to participate in , Examination report, copy forwarded to Chairman '-iondition reports, call as of December 31, 1947 Call as of June 30, 1948 First of Boston International Corporation, Boston, Mass. Condition report, call as of December 31, 1947 Call as of June 30 Acknowledgment of condition report with notation on wrong percentage for computing reserves French "cil American Banking Corporation, New York, N. Y.: Condition reports, call as of December 31, 1947 Termination of agreement re operations considered, but additional information to be received before decipion No letter to be sent as no stock owned by member banks now Te rmination of agreement with Board Termination of agreement under Regulation T approved erlocking relationships under Regulation LI proposed Inteamendment approved rnational Banking Corporation, New York, N. Y.: Condition reports, call as of December 31, 1947 Call as of June 30 gan Incorporated, New York, N. Y.: 0 8" Cie ,o ndition reports, call as of December 31, 1947 P()rei Call as of June 30 /calico Central del Ecuador, loans by FRBank of New York approved Loa, 1, 0Y FRBank of New York approved T B „e4-.0,Ein by FRBank of New York approved ° uo Brasil, loan by IRBank of New York to United States of Brazil through, approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/21 1144 11/17 1937 3/19 388 1/9 7/1 48 1066 1/9 7/1 48 1066 10/26 12/30 1/9 7/1 1816 2241 48 1066 1/9 7/1 48 1066 7/28 1174 1/9 48 2/19 241 7/1 7/1 8/10 1066 1071 1263 5/12 760 1/9 48 7/1 1066 1/9 7/1 48 1066 3/11 358 7/23 1163 9/9 1475 4/6 542 201 Foreign banks: (continued) Banco do Brasil: (continued) Opening of account by FRBank of New York as fiscal agent of Brazilian Government approved 5/3 Banco Nacional de Costa Rica, loan by FRBank of New York approved 10/15 Bank deutscher Laender, opening of remittance account by FFBank of New York approved 7/21 Bank for International Settlements, loans under revolving credit by FRBank of New York approved 11/22 Bank of Canada: Clearing and collection, procedure of FRBank of New York for handling cash items on cash basis approved 4/27 Bank Polski, extension of loan by FRBank of New York approved 3/5 Renewal of loan by FRBank of New York approved 6/8 Renewal of loan by FRBank of New York approved 9/3 Renewals of loans by FRBank of New York approved 9/17 , Renewal of loan by FRBank of New York approved 12/3 a4nque Centrale de la Republique de Turquie, increase in 1/2 loans by FRBank of New York approved Bank of France, increase in loan or loans by FRBank of 1/16 New York, approved Ban que de France, three months extension of loan by FRBank 3/19 of New York approved Three months extension of loan by FRBank of New York 3/26 Extension of loan by FRBank of New York approved Extension of loan by FRBank of New York approved 6/1; Extension of loan by FRBank of New York approved Renewal of five loans by FRBank of New York approved 9/17 7/20 Renewal of three loans by FRBank of New York approved 10/20 B4 Renewal of 11/29 loans by FRBank of New York approved Nue de Grece, further extension of loan by FRBank of 3/22 New York approved Renewal of loan by FRBank of New York approved 6/18 Ban Renewal of loan by FRBank of New York approved 9/22 clue Nationale de la Republique d'Haiti, examination, completion of mission, letters to FRBanks of Richmond and Chicago re services of 5/27 Messrs. Snead and Gustayson Bann, ' me Nationale de la Republique Federative Populaire de • Yougoslavie, loan by FRBank of New York 8/17 approved Bisb_Renewal of loan by FRBank of New York approved 11/22 "v1) National Bank of Honolulu, to appear before Committee on Interior and Insular Affairs at hearing re provision in H. R. 49 to require national banks in Hawaii to become members of 4/7 FRSy stem Let Letter and memorandum from Mr. Vaterhouse re H.R. 49 sent to FRBank of San Francisco 4/7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pages 699 1774 1144 1957 6so 327 925 l'Ll 1529 2046 6 85 394 460 644 977 1528 179: 13 1993 401 978 1599 872 1321 1958 552 557 202 Pages Fc)reign banks: (continued) Central Bank of China, extension of loan by FRBank of New 4/9 York approved 8/4 Renewal of loan by FRBank of New York approved Christmas greeting cards sent to Board, no objection to 12/3 member of Board sending greetings De Javasche Bank, loan by FRBank of New York approved 9/24 De N ederlandsche Bank, loan by FRBank of New York approved 9/24 Extension of loan by FRBank of New York approved Discrimination against by New York State, extent of, information re legislation sent to Secretary of State for forwarding to American Embassy 3/11 at New Delhi, India National Bank of Haiti, request for examination by Board to be considered favorably if made by Government of Haiti, costs to be borne by GoNternment 1/23 of Haiti and Gustayson Messrs. of Examination of, designation 2/19 Snead as FRExaminers for participation in Examination to be made by Messrs. Wilkes, Goodman, Gustayson, and Snead, arrangements for traveling expenses with funds advanced to 3/4 Messrs. Wilkes and Goodman approved Examination of, agreement to scope by Government of Haiti, advice re exPnining staff and arrange3/9 ments sent to Secretary of State Completion of examination, letters to FRBanks of Richmond and Chicago on services of Messrs. Snead 5/27 and Gustayson Netherlands Bank, deletion of phrase "subject to approval by your Board of Directors" approved for proposed loan since approved by three directors, advice 3/29 to FRBank of New York 1)hiliPPine Central Bank, Mr. Grove granted leave without pay 9/21 for six months to assist in setting up Mr. Grove granted leave to assist in setting up, advice 10/5 to Secretary Cuaderno Mr. Grove to assist in organization, advice to Secre10/18 tary of State Rest.— -'ve Bank of New Zealand, telegram to Mr. Fussell re Po 6/7 proposed visit of Mr. Ross to Board Nicrn ) countries, financial data on selected list of, Board to assist War Department in preparation, with exception of Japan and Germany, advice Po 5/4 to Colonel Ennis l H. Ieign nge rates: -)810, letter from FRBank of New York to Senate Finance Committee as to certifying rates under Tariff 5/14 Act report of Mr. Young on recent mission and discussion 6/22 of recommendations http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 569 1226 2036 164-91 1620 357 109 240 303 343 872 477 1540 1703 1775 904 703 778 986 203 Pages Foreign funds control, Treasury Department Release, statement to be published in March issue of FRBulletin 2/25 8/26 Statement to be published in FRBulletin 9/30 Statement to be published in FRBulletin Executive Order transferring jurisdiction to Attorney General, statement to be published in FRBulletin 9/30 Foreign missions: El Salvador, no objection to mission by FRBank of New York, 2/10 but doubtful as to results ExPenses and salaries of members of Board's staff on, discussion in connection with request of Secretary Cuaderno for services of Mr.Grove to assist in setting up Philippine Central 9/21 Bank Greek, no objection to assignments of FRBank of New YOrk staff for, but information before definite 6/18 arrangements in future desired Japan, Mr. Ralph A. Young to serve as head of and Mr. A. B. 5/10 Hersey to serve as member Messrs. Young and Hersey granted authority to make trip, discussion of per diem, Mr. Hersey's allowance to be increased if proved to be inade5/14 quate Reports by Messrs. Young and Hersey, recommendations of mission approved and to be supported by 6/22 Chairman McCabe at meeting of NAC 5/14 phil.:.1-401nes, report by Messrs. Exter and Grove re 1Ppine Central Bank, Mr. Grove granted leave without 9/21 pay for six months to assist in setting up Mr. Grove granted leave without pay to assist in set10/5 ting up, advice to Secretary Cuaderno Prceedure and terms for making staff members available for assistance in, committee consisting of Messrs. Szymczak, Riefler, Thomas, and Southard appointed to make recommendation re 10/19 ReqUests for FRBank officers to serve on, to be made to Board, discussion of procedure in connection with Bogota Conference case, Mr. 4/7 Szymczak to have drafts of letters prepared Procedure to be followed, letter to Secretary of Treasury, in connection with matter of Pote. 4/9 Mr. Sproul's going to Bogota Conference a l lselationships of FRSystem: '"-gnments for staff members, procedure and terms re, committee consisting of Messrs. Szymczak, Riefler, Thomas, and Southard appointed 10/19 make recommendation to 840t4 Conference, question of Board representation on United States Delegation, letters to Secre4/9 taries of State and Treasury http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 255 1392 1647 1647 164 1541 973 747 782 986 781 1540 1703 1783 554 568 1783 566 204 Pages '1gn relationships in FESystem: (continued) Brazilian Mission, Mr. Moore of FRBank of New York to be member, question of availability of services 7/15 of Mr. Grove, letter to Mr. Southard Messrs. Hersey and Glaessner to be members of technical staff and Mr. Roelse to be member of mission, 8/13 advice to Mr. Southard Mr. Hersey granted extension of time for assignment 12/15 Ceylon, Mr. Exter granted leave for six months to assist in preparation of central banking legislation, Board to undertake to obtain Manager of Cen10/19 tral Bank fbr future Mr. Exter to assist in central banking legislation, additional information re terms of services sent to State Department for transmission to 11/17 Ceylon Government Christmas greetings to foreign central banks, cards not to be sent by Board, but no objection to Board 12/3 members sending e Conbs, Charles A. extension of leave at request of ECA 10/22 "Ierence of Central Banks of American Continent at Santiago, Chile, participation by FRBank of New York, another FRBank and Board, matter to be reviewed by Staff Group on Foreign Inter4/2 ests Crosse, Howard D., FRBank of New York, services to be loaned to Philippine Government in connection with establishment of central bank, no objection 12/13 to . Eizon ana Martinez, Messrs., to be assisted with studies advice to Mr. Emilio Abell°, Manila, The 8/12 Philippines Commission for Latin America, Mr. Milic Kybal, FRBank of New York, granted leave to act as 10/22 El sal consultant to vador, mission by FRBank of New York, no objection 2/10 FRBank by Board, but doubts as to results of New York, travel program for 1948, reply to 4/2 proposed plans sent to Great. mission and ECA arrangements for staff of FRBank of New York, no objection but information before 6/18 Grove definite arrangements in future desired / David L., and Exter, John, extension of itinerary 3/26 Rarie , approved, advice re Shanghai and Tokyo J, Charles R., economist, trip to United Kingdom to study economic and financial developments 4/2 approved k,0 United Kingdom not to be made as leaving Board's 5/7 staff Ilirschm an) Albert 0., proposed trip to France and Italy to visit central banks, discussion, Messrs. Thomas and Knapp to discuss mutter with Mr. 4/2 Thorp of State Department http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1120 1284 2128 1780 1932 2036 1805 529 2113 1273 1805 164 529 973 456 527 723 523 Pore • lgn relationships of FRSystem: (continued) H irschman, Albert 0.: (continued) Economist, trip to France and Italy approved, traveling 5/27 expenses to be paid pan, Mr. Young to serve as head of mission and Mr. hersey 5/10 to serve as member Messrs. Young and Hersey granted authority to make trip, discussion of per diem, Mr. Hersey's allowance to be increased if proved to be inadequate 5/14 Mission of Messrs. Young and Hersey to, recommendations of mission approved and to be supported by 6/22 Chairman McCabe at meeting of NAC Missions, plans for personnel of ThBank of New York, or Board, procedure for advice to be continued, 10/22 letter to Mr. Sproul Philip . ph;, ,Plne mission, report by Messrs. Exter and Grove re 5/14 '-i-iPpine Central Bank, Mr. Grove granted leave without 9/21 pay for six months to assist in setting up Mr. Grove granted leave without pay for assistance in 10/5 setting up, advice to Secretary Cuaderno Mr. Grove to assist in organization, advice to 10/18 Secretary of State ?Iletto Rico, discussions re revisions in banking laws with Dr. B. Di Venuti, to be continued in cooperation with FDIC and Comptroller of the 5/27 Currency 4-"sentatives of Board or FRBank of New York, assignments abroad or to agencies of Government involving foreign assignment, procedure for advice 10/22 of plans to be continued Ras, Robert V., trip to London and the Continent approved after consideration of further information 5/7 Ross m ' j a**, from Reserve Bank of New Zealand, telegram to 6/7 Mr. Fussell re 8Proul Allan, Bogota Conference, no objection to accompanying Secretary Snyder as adviser, discussion of procedure for future requests for foreign missions, Mr. Szymczak to have drafts of letters prepared 4/7 No• objection to accompanying Secretary of Treasury to Bogota Conference, but procedure for future requests suggested in letter to Secretary Statement of Sder Snyder 4/9 procedure re foreign relationships of FRBanks, amendment to eliminate item (d) under Section 3(g)(6) re weekly telegraphic advice of earmarked gold and securities held in custody for foreign accounts, advice to ' 11411, 11/17 FRBanks " eh, Henry, extension of leave at request of ECA 10/22 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 205 Pages 868 747 782 986 1805 781 1540 1703 1775 874 1805 722 904 553 568 1937 1805 Forms: APPlication for position, (FR 28), revision to conform with Civil bervice Form 57 re loyalty program 9/7 approved Condition reports, changes in form to show reserves for bad 5/13 debts on loans approved, advice to FRBanks Ea 'flings and dividend reports, changes in form to show reserves for bad debts on loans approved, 5/13 advice to FRBanks Interest rates on loans to businesses, revised reporting form for collecting information, letter to 1/8 FRBanks requesting views Form for reporting quarterly information, to be revised 5/25 10_ ,tegulation General Finance, reply to letter from FRBank of Chicago 9/16 ra, Identification Certificate, form sent to FRBanks 9/22 48, application for position, revision to conform with Civil Service Form 57 re loyalty program 9/7 approved PR 341 daily balance sheet, to be revised, advice to 12/13 FRBanks FR 96, be to presses printing of assessment for purchase charged to current expenses, advice to 10/29 FRBanks FR 105) reporting in changes reserve for bad debts on, 4/13 approved PR 105, of reports condition 105b, 105e, and 105e-1, State member banks, forms and instructions 2/20 to be sent to FRBanks for next call date Forms and instructions to be sent to FRBanks for next 6/8 call date Condition reports, to be sent to FRBanks for next call 11/8 PR 107 date reserve for bad debts on, changes in reporting 4/13 approved rflings and dividends, forms and instructions to be 11/3 sent to FRBanks for 1948 report earnings and dividends reports of State member banks, forms and instructions for semiannual 6/8 report to be sent to FRBanks 1'4220 , and 220a, reports of affiliates: 4annibal Mutual Loan and Building Association, affiliate of Farmers and Merchants Bank and Trust Company, Hannibal, Mo., submission and publication of report not required for past call dates but due for next call if affiliation 2/5 still exists 11R 22° 220a, and 220b, condition reports of affiliates of State member banks, forms and instructions 2/20 to be sent to FRBanks for next call date l'°rTas and instructions sent to FRBanks for next call 6/8 date Corldition reports of affiliates, to be sent to FRBanks 11/8 and affiliates for next call date http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 206 Pages 1446 763 763 30 848 1516 1598 1446 2114 1834 575 250 922 1870 575 1847 924 149 250 922 1870 207 Pages Pormo. , ---. (continued) FR 320a, revised form requested from FRBank of Cleveland in connection with procedure for determin8/13 1285 ing cost of Cincinnati branch FR 416, revised weekly condition report form, copy and 6/11 instructions sent to FRBanks 944 422) reports of computation of reserves, revised procedure 11/9 1884 because of holidays FR ,,,,, 4--)1, annual report to be obtained from Wisconsin Bank11/15 1902 shares Corporation, Milwaukee, 'iris., on Annual reports of holding company affiliates, to be 12/14 2125 obtained, instructions to FRBanks FR Z44 -*J‘J) member bank operating ratios, work sheets for 1948 1852 11/4 sent to FRBanks 563-:b) Registration Statement for Regulation W I printers' 9/16 1515 proof sent to FRBanks FR 634, to 634( 1/8 32 be submitted quarterly, instructions to FRBanks ‘a), Budget report, actual expenses for preceding period to be shown instead of estimated expenses . 1089 7/6 for year FR 610 -/$ monthly report under Regulation W, suggestions as to 14111 9/3 changes requested in letter to FRBanks Regulation W enforcement Report, revision, copies and 1863 11/5 instructions sent to FRBanks Pci 20Rn -'", desires reports Treasury 2092 and 2095, 2081P Y 32 1/8 submitted monthly Praratin,.. AZ v Priv leg :es ses, discussion of, use for business of Board justified, Board members to use discretion in 645 4442, C , 4/23 other cases - ' 1,P Regulation W, decline in sales of household appliances, reply to letter suggesting easing of 12/10 2105 provisions 41 Reglilati ,1,1, reply to letter re curtailment of business by 12/15 2131 °11. sbia Alfred E., margin requirements, reply to inquiry re ' Neha, 705 5/5 recent opinion on Regulation T ' 11 11.1 Commodity Credit Corporation loans, question of increasing interest rates for banks, disPlIti 1855 11/5 cussion of Mr. Bartelt with Porzi,,exPense reports: 11 634, to be submitted quarterly, instructions to Etrai A 32 1/8 FRBanks IniZounting Office: -ment system contributions by Cincinnati Branch for Fiscal Agency employees on leave without pay, exceptions to charges covering, -40.1-tr: 759 5/12 statement to FRBank of Cleveland qtet 411:411., 4. data, staff of Board unable to furnish assistance for work on P., Transamerica case, reply to letter questioning Board's authority to institute proceeding, approved after discussion and advice of Mr. Townsend http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5/4 703 8/3 1207 Gian„. nini, L. M., hospitalized in Washington, Chairman McCabe 208 Pages to telephone and issue invitation to call at Board 9/10 1485 Question of visit with Mr. McCabe during time in le'ashington, report of Mr. Coleman re telephone conversation with 9/21 1559 Report of telephone conversation with Mx. Coleman 9/29 1632 Giip-sit to Chairman McCabe to discuss Transamerica proceeding 11/15 1901 ea, Howard F., arrangement with Moody's Investors Service re publication of eighteen months' average prices approved, advice to 11/3 1849 Gl"s) Carter, personal papers, question of employment of person by FRBank of Richmond to classify, Board not in favor of, Mr. Morrill to Gold: advise Mr. Leach 8/19 1332 Notes on Present United States Gold Policy, memorandum prepared in Division of Research and Statistics be handed to members of FAC • to 11/15 Polic Y of FRSystem and Treasury, exports and imports, problem to be considered from time to time, but Treasury control not to be relinquished entirely, discussion at meeting of FAC with Board 9/21 G°1(istein, Alfred, Regulation W, applicability to taxicabs, reply to letter from 9/14 ation WI applicability to sale of taxicabs, reply to Gotham n 12/7 letter t,red • J. lu Corporation, New York, Regulation W, reply to Gaye letter re proposed amendments 24 11141emt9/ lending agencies, creation of council to coordinate domestic policies, Messrs. Young and 12/21 Solomon to attend meeting securities Qltization of premiums on, procedure to set up reserves to provide for rapid, comments of FRBanks requested 3/15 Pr ooedure to set up reserve action to be deferred until Am discussion at Presidents Conference 3/24 s reported in Schedule B of call reports of national and State member banks, telegram to 7/26 FRBanks for information ty of FRBanks to purchase directly from Treasury, discussion in connection with emergency legislation to be drafted by National Security Resources Board 4/14 ellz3tody " receipts for collateral securing loans to member banks, discussion of policy for all FRBanks and arrangement for deposit of securities at FRBank of New York, at meeting of Presidents with Board, matter to be reviewed by Board and proposed policy statement to be 2/27 submitted to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1901 1581 1505 2088 1617 2162 369 442 1165 580 270 Government securities: (continued) Custody receipts: (continued) No objection to acceptance of receipt from Trust Company of Georgia, Atlanta, Ga., advice to FRBank of Atlanta 4/5 Proposed procedure for FRBanks, comments and views of FRBanks requested 4/5 Policy re acceptance, topic on agenda for Presidents Conference, Messrs. Vardaman and Clayton to discuss matter with Presidents before action taken by Conference, advice to Mx. Davis 5/7 Procedure, revised statement approved, advice to 7/2 FRBanks Decline in sales by insurance companies, discussion of) 11/16 for, at meeting of FAC with Board Insurance urance companies, sale to make loans, discussion of objections to activities 9/7 Federal Advisory Council statement 9/21 9/21 Discussion at meeting of FAC Statement of Mr. Burgess at FAC meeting re, discus9/21 sion Monthly letter of National City Bank, New York, refer11/16 ence made at meeting of FAC to an. at par, commitment made in 1939 and 1941, policy still 2/13 in effect 1,011o. term to be supported at par, recommendation of FAC 2/17 discussed Malitetable issue of bonds, public announcement re obtaining par plus accrued interest at member banks of FRSystem suggested as means of making membership in FRSy stem more attrac11/5 tive, matter to be considered by FOMC um account, increase in contingent reserves of FRBanks 11/23 to cover, memorandum by Mr. Smead Il funding by Treasury, System recommendation as to types to be offered for, topic to be placed on agenda for Federal Advisory Council meeting 4/7 Re e°mmendation as to types to be offered for, discussion at FAC meeting of E, F, and G bonds and of rates on bills and certificates 4/27 Retirezent 0 _ f on, provision to be made before payment to Treasury for first quarter of 1948, discussion at Presidents Conference,matter 2P7 to be discussed with Treasury Security loan drive by Treasury, FRBanks to cooperate by extension of facilities to 4/5 "Qrt-term rate on, increasc_, discussions with Secretary of the Treasury re and mention in letter 8/10 re Treasury financing program http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 209 Pages 534 536 726 1079 1910 1453 1563 1570 1573 1914 180 198 1860 1964 548 659 287 539 1254 210 Pages G°vernment securities: (continued) Short-term rate on Treasury certificates, letter in reply 8/11 to Secretary Snyder re approved SPecial reserve against depreciation in, discussion at Presidents Conference of plan for changing arrangement for payment of 90 per cent of net earnings to Treasury, matter to be con5/21 sidered further Support of market, question of discussing in hearing before 7/30 House Banking and Currency Committee SUPPort prices, lowering, to be discussed at meeting of executive committee of FOMC to be called in connection with proposed increase in 9/7 reserve requirements SuP°°rt program for government bonds, FAC statement re 9/21 continuation 9/21 Board's response to FAC statement Statement of FAC since national elections and discus11/16 sion at meeting with Board Statement in letter to President re State of Union message concerning measures of restraint 12/1 against inflation Question of abandonment discussed at Presidents Conference in connecticn with matter of 12/1 increases in reserve requirements U. S. Savings Bonds, consideration as readily marketable securities under Regulation F, reply to 1/16 inquiry from Mr. Charles L. Kaufman Series G, question of consideration as readily marketable securities, reply to innuiry from FRBank of Boston, changes in Regulation F 5/24 to be considered in future Trea _ surY bills, rise in rate, uiscussion of point in Secretary Snyder's letter, question to be discussed with executive committee of FOMC before preparationreply to letter re Treasury financ8/10 ing 811,ent security e4k in commodity prices, discussion of effect on economic situation and future developments, at meet2/17 Su ing of FAC with Board 4/27 )*t of, discussion at meeting of FAC , pp( 'hC statement re continuation 9/21 130ard's response to FAC statement re 9/21 N° change in present policy, consensus of executive committee of FOMC, statement at meeting of 9/21 4nAFAC Stat-ement 9/21 re, discussion of Mr. Burgess at FAC meeting te Att chool of Banking: --ance of FF,Bank officers and employees and Board employees, policy re selection and expenses 6/18 amended, advice to FEBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1265 819 1182 1448 1563 1567 1907 2005 2026 82 832 1254 198 674 1563 1567 1569 1573 970 211 Pages Graduate School of Banking: (continued) Expenses of attendance, discussion at Presidents Conference, payment of dormitory and dining hall charges approved Franzoni, John C., granted additional leave and reimbursement for expenses for 1948 session Horbett, John E., granted additional leave and reimbursement for expenses for 1948 session n, le-vn, o Kenneth A., granted additional leave and reimbursement for expenses for 1948 session 441ti: National Bank of Haiti, request for examination by Board to be considered favorably if made by Government of Haiti, costs to be borne by Government of Haiti bcaaination of National Bank of, letter to Secretary Of State on staff and other arrangements for 44rt, A lderson, McCabe & Harkins, voucher approved to cover cost of stenographic transcript of hearings on nomination of Mr. McCabe Ste graPhic transcripts of testimony of Messrs. McCabe, Eccles, Sproul, Young, Leedy, and Williams before Senate and House Banking and Curr ency Committees, payment approved TI . R. 49, to admit Territory as State, amendment to require national banks in any territory to become members of FRSystem upon admission as State, draft sent to Senator Butler Provision .0 t require national banks to become members of FRSystem, amendment requested by Mr. Dewey, Chase National Bank, to help Bishop National Bank, Mr. Clayton to advise Mr. Dewey that amendment not considered necessary Letter from Mr. Waterhouse, President of Bishop National Bank of Honolulu, and memorandum sent to FRBank of San Francisco Statemen, Prepared by Legal Division to be used at hearings re, Mr. Clayton to appear before Senate Committee on Interior and Insular Affairs and to ascertain if Chairman of Senate Banking and Currency Committee would be willing to send letter to Committee Letter 4. 0 Bishop National Bank, Honolulu, asking for fur44114a. " ther consideration of amendment e°Mmittee on Interior and Insular Affairs, Mr. Eccles or Mr. Clayton to appear to reiterate views of Board re provision in H.P. 49 to require national banks in Hawaii to become members of FRSystem http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5/21 816 1/14 65 1/14 65 1/14 65 1/23 109 3/9 343 4/27 680 8/27 1398 1/27 121 3/19 389 4/7 557 4/14 582 4/22 621 4/7 552 212 Pages Hear*lngs: (continued) Hawaiian Statehood bill, provision to require national banks to become members of FR*stem, statement prepared by Legal Division to be used at, Mr. Clayton to appear before Senate Committee on Interior and Insular Affairs and to ascertain if Chairman of Senate Banking and Currency Committee would be willing to send letter to Committee 582 4/14 House Banking and Currency Committee, Mr. McCabe to testify on anti-inflation program 7/30 1182 Mr. Eccles to testify before 8/3 1209 HousLig -credit legislation, being held by Senate Banking and Currency Committee on, letter of Board's views to be prepared 482 3/30 J'Ant Committee on Economic Report, Mr. Eccles to appear before to make statement re actions to combat inflation, statement to be submitted to Board 342 3/9 Reserve proposals, tests to determine effects on individual banks to provide information to present at, advice to FRBanks 3/18 384 Statement of Chairman Eccles re inflationary situation on April 13, 1948 507 4/2 Mr. McCabe requested to testify before 5/21 809 Messrs. Thomas. Riefler, and Bopp to testify on proposal for uniform reserve requirements 5/24 830 Mee4bey Thomas B., on nomination, voucher for stenographic Monettranscript approved 680 4/27 arY controls, Chairman McCabe to testify before Congress, suggestions of Chairmen re reserve requirements of commercial banks requested 4/26 649 ice, Bernon S., on applicability of Sec. 32 of FRAct, to be given opportunity to appear before Board 1/16 76 Reserve requirements, increase in authority over, to be held by Joint Committee on the Economic Report, statement of Chairman Eccles at FAC meeting 2/17 209 8°1:late Banking and Currency Committee, letters referred to in connection with nomination of Mr. McCabe to Board, copies sent to Senator Mayb4nk 6/11 940 Mr, McCabe to testify on anti-inflation program, state7/29 1177 ment approved, ratified and confirmed Testimony of Messrs. McCabe, Eccles, Sproul, Young, Leedy, and Williams before, payment to Hart, Alderson, McCabe and Harkins and to Columbia Reporting Company for stenographic transcripts approved 8/27 1398 144118ameri„ Corporas, tion, antitrut proceeding against to be held early in October, fees and 862 stenographic services approved 5/27 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • earinge: (continued) Transamerica Corporation: (continued) Issuance of complaint and notice of hearing, copies to be sent to Attorney General, Comptroller of the Currency, Chairman of FDIC, and President of FRBank of San Francisco, no publicity to be given to case 6/23 Request for public hearing and for change in place of hearing by, action deferred until meeting on October 1 9/29 Oraer approved granting request for public hearing but not for change in place 10/1 Procedure approved 10/1 Motion to show cause in connection with complaint for Injunction, filed by Mr. Townsend, hearing set for October 20, 1948 10/12 Antitrust proceeding against, to be held on December 7, notice and press statement approved 11/5 To be resumed after first of year, oral arguments on motions filed by Corporation to be held on December 10, 1948 12/7 Meeting in Board's building, oral arguments made on motions filed by, brief to be filed by Mr. Stewart, answer to be filed by Mr. Townsend, and then Board to consider matter, lierter, transcript of arguments filed 12/13 C hristian A., Regulation 14, reply to letter from Consolidated Construction Company of Brookline, Mass., re inclusion of repair and modernizaHiek„, tion credits 9/21 " P- C., statistical information re bank holding companies requested for thesis, reply to letter sent to Senator Tobey 3/25 11111 'Arthur m., economic stabilization program for war emergency, comments of Board re memo of Mr. Johnson on suggestions for Griffith 8/31 4-11E cora Pany affiliates: 'can National Bank of San Bernardina, Calif., determined to be for purposes of section 23A of FRAct only and permit not necessary to vote stock of American National Bank of Big Bear Lake, kitiaaa California 1/8 reports on Form FR 437 to be obtained, instructions to FRBanks 12/14 eCTIMer-. elal Investment Company, Texarkana, Ark., determined not to be except for purposes of section 23A of FRAct 12/7 tser°w ac Loan Service Co., Incorporated, South Pasadena, California, additional information requested from FRBank of San Francisco before deter12/10 mination re b/etermined not to be for any purposes other than section 23A of FRAct 12P8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 213 Pages 992 1633 1648 1658 1738 1858 2072 2108 1560 448 1412 28 2125 2086 2103 2227 Hold• lug company affiliates: (continued) First Bank Stock Corporation, Minneapolis, Minn., granted general voting permit to vote stock of First National Bank of Hopkins, Minn. 7/30 FRBank of Minneapolis authorized to furnish copies of reports of examination of subsidiary State member banks to 11/ Interim Holding Corporation, determined not to be except for purposes of section 23A of FRAct 1/13 Jefferson Standard Life Insurance Company, determined not to be except for purposes of Section 23A of FRAct 1/12 le gislation, present status of bill, FAC to consider sending resolution in favor of to banking and currency committees and Senator Taft 2/17 Meeting at Treasury to discuss, report by Mr. Riefler, no action to be taken, Chairman McCabe to submit recommendation for next session of 6/8 Congress Meeting with Mr. Thomson, representatives of ABA, Reserve City Bankers Association, and others to agree on bill, discussion, 6/23 Chairman McCabe to study matter further Meeting with representatives of groups interested in, Chairman McCabe to arrange for September and to extend invitations 7/6 banoheon meetings with representatives of holding company groups to be arranged by Mr. McCabe to 7/15 discuss Meeting with representatives of holding company groups held at Board, discussion of proposed bill 9/10 Matter to be placed on agenda for next meeting of FAC, advice to Mr. Prochnow 9/10 Res olutions of Federal Advisory Council approving enactment of S. 829 with amendments, position of Council reaffirmed, discussion of conferences being held at Board 9/21 Leg islative proposals for control and regulation, advice to Bureau of the Budget 11/33 ktio nal Shawmut Bank of Boston, Mass., granted limited permit to vote stock of Somerville National Bank 1/9 Gr anted general permit to vote stock of Somerville National Bank, Somerville, Mass. 11/29 "t Bancorporation, Minneapolis, Minn., granted general voting permit to vote stock of 9/9 Billings State Bank, Billings, Montana FRas. , Of Minneapolis authorized to furnish copies of reports of examination of subsidiary State Paters member banks to 11/3 on Savings and Trust Company, Paterson, N. J., determined not to be except for purposes of section 23A of FRAct 2/19 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 214 Pages 1186 1846 60 56 215 915 1015 1084 1119 1483 1493 1585 1999 53 1990 1473 1846 241 215 Pages 131ding company affiliates: (continued) Readily marketable assets required by those granted voting permits, advice to Mr. Snyder, South Pasadena, California 10/19 1787 Public National Bank, Dallas, Texas, granted limited voting permit to vote stock of three national banks 1/9 53 Granted limited permit to vote stock of three national banks 1/9 53 St. Joe Paper Company, Jacksonville, Florida, copies of financial statements sent to FDIC for confidential information and use 846 5/25 S. 829, resolution by FAC favoring enactment approved, copies to be sent to Chairmen and members of Senate and house Banking and Currepcy Committees and to Senator Taft 2/19 235 Shalom+ u Association, Boston, Mass., granted limited permit to vote stock of Somerville National Bank, Somerville, Mass. 1/9 53 Granted general permit to vote stock of Somerville National Bank, Somerville, Mass., Mr. Edward S. Stimpson to be advised of decision 11/29 1991 State National Bank of Texarkana, Ark., determined not to be except for purposes of section 23A of FhAct 12/7 2086 Stati 4. information requested by Mr. Hickok for thesis, reply to letter sent to Senator Tobey 448 3/25 Trli 0 noame M°nrica Corporation: opolistic characteristics of banks belonging to, figures of time and demand deposits of individuals, partnerships and corporations held by branch banking systems by counties to be obtained 1/9 45 Assets not considered readily marketable 3/5 324 Antitrust litigation against, report of Mr. Townsend 4/2 on status of investigation 521 G anted limited permit to vote stock of Bank of Newman, California, and First National Bank of Craws Landing, California 3/17 379 Tobey, Senator Charles W., request for copies of correspondence and other relevant material affecting interests of, in connection with testimony on nomination of Mr. McCabe, Mr. Townsend and someone else from Legal Division to talk with Mr. LtHeureux before preparation of letter 3/24 433 Request for information re, no action to be taken to confer with Mr. L'Heureux and no reply to be made until discussion of matter 3/25 with Chairman Fccles 44-4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Hold ing company affiliates: (continued) Transamerica Corporation: (continued) Tobey, Senator Charles W.: (continued) Discussion of material to be sent, Messrs. Vest 3/26 and Townsend to prepare draft of letter Letter transmitting recent correspondence originating in November 1947 sent, request for all relevant material made to Chairman Eccles by telephone and also by second letter, reply to be prepared containing additional information 3/29 Letter delivered to Senator Tobey, advice in Secretary's Note 3/29 Antitrust proceeding against, report of investigation 5/25 to be made by Mr. Townsend Report of investigation by Mr. Townsend 5/26 To be instituted, letters of advice to be sent to Attorney General, Comptroller of the Currency and Chairman of FDIC, Messrs. Evans, Clayton, and Townsend to recommend action as to pro5/26 cedural questions to be considered Procedure approved for instituting proceeding against 5/27 Advice to Attorney General, Comptroller of the Currency, and FDIC of decision to institute 5/27 Issuance of complaint and notice of hearing, copies to be sent to Attorney General, Comptroller of the Currency, Chairman of FDIC, and President of the FRBank of San Francisco, no 6/23 publicity to be given to case Stock of Occidental Life Insurance Company, Pacific National Fire Insurance Company, General Metals Corporation, and Columbia River Packers Association, Inc., and conventional mortgage loans, not classed as readily mar6/28 ketable assets Antitrust proceeding against, reply to letter from Mr. Giannini questioning Board's authority to institute, approved after discussion and 8/3 advice of Mr. Townsend Copy of complaint against, requested by Federal Trade Commission, to be sent upon receipt of V. R., 8/3 formal request IteYnolds & Company, Palm Beach, Florida, determined not to be of any Florida banks of which it 3/11 was formerly a major shareholder Vittetb erg College, Springfield, Ohio, determined not to be except for purposes of Section 23A of FRAct 1/9 ' 4-n Corporation, Milwaukee, Wis., annual Bankshares 4014A 11/15 report to be obtained on FR 437 Eve, one-half day holiday to be granted, in conformity with Executive order http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/13 216 Pages 451 463 471 840 849 855 862 864 992 1055 1207 1212 354 52 1902 2111 ROli'is-Ys: (continued) ComPutation of reserves, telegram to FRBanks with procedure for reporting Homo T 11/9 upan Bank: R. 2799, amendment to authorize Treasury purchase of obligations, request of Mr. Pace to hold meeting to discuss, Messrs. Vest and Thomas authorized to select representatives 7/20 Legislation, report by Mr. Clayton on status, no further action to be taken by Board at present 5/26 /1°11 L Lo Bank Board: Rsgulation W, cooperati on re enforcement requested in letRome Lo ter to Mr. Divers 9/17 an Bank System: Le Leg amendment to authorize Treasury purchase of obligations, discussion of Mr. Clayton with Mr. Pace, Bureau of the Budget re, representatives of Treasury to talk with Messrs. Wood and Solomon before further discussion with Mr. Pace 9/20 Memorandum from Messrs. Young, Solomon, and Wood re discussion with Messrs. Lynch and Ranta of the Treasury, draft of statute to be prepared and presented to Board 10/1 soussion of proposed draft of, matter to be discussed by staff with FDIC before further consideration by Board 11/9 Legislation, amendments to authorize to borrow from Treasury, memorandum re discussed, draft to be submitted to Bureau of the Budget and to such others as suggested by Bureau, to be taken up with ABA, FAC, and Reserve City Bankers Association later if agreement expressed by Bureau and 12/7 1)1'°Posed amendments to H. R. 2799 to permit borrowing from Treasury, draft and memorandum sent to liotlor R0_1, Bureau of the Budget 12/16 memorial plaque with names of employees serving in lioover World War II approved to replace temporary 11/22 C°Mtn 4 41t31„ 2-a- space needed in Board building 5/18 ation re Board members, divisions, etc., sent to 11eP°rtMr. Bach for use in connection with work on 7/1 on Board of Governors prepared for committee on Independent Regulatory Commissions, discusReP°r tsion of action by Board on 8/26 on Board of Governors prepared by Mr. Bach for Committee on Independent Regulatory Commission, placed on docket for meeting on September 7 8/31 10 be discussed with members of Board and members of staff 9/7 QiIsstions re to be discussed informally at meeting of FAC, views of Board to be given by Mr. McCabe 11/15 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 217 Pages 1884 1132 849 1526 1531 1666 1874 2068 2140 1958 793 1073 1383 1410 1447 1899 Recrver C?mmission: (tinued) cJAL St atlstical activities of Board, report sent to Mr. Frederick C. Mills for use in connection with work of Study on FRBoard by Mr. Bach prepared for, statement of FAC re objectionable points 218 Pages 6/28 1058 11/16 1916 Denver Branch, hospital and surgical benefits under Blue Cross program, payment by FRBank of Kansas 3/3 City of two-thirds of cost approved PRga, &Ail of Minneapolis, insurance to be provided from ConnecHousitig: 3/22 ticut General Life Insurance Company 301 ROspitalization: Credit 398 situation, Federal Advisory Council in agreement with 210 2/17 Board ,7 R. R. 9 -(99, to amend Federal Home Loan Bank Act, Title'IV of National Housing Act, and for other purposes, comments sent to Bureau of the Budget re bill 596 4/16 and proposed amendment Letter to be sent to Senate Banking and Currency Commit5/10 744 tee cpposing Amendment by Housing and Home Finance Agency to, Board opposed to, advice to Chairman Tobey, Senate 5/11 755 Committee on Banking and Currency Resol4tion of FAC opposing proposed amendment, copies 828 5/21 sent to Messrs. Tobey, Wiggins, and Harl Anlendment to authorize Treasury purchase of Home Loan Bank obligations, meeting to be held at request of Mr. Pace to discuss if desired, Messrs. Vest and Thomas authorized to select 7/20 1132 representatives possible discuss Meeting at Bureau of the Budget to changes, no change in Board's position, re7/23 1157 port by Mr. Thurston 14 R. 5854,, to extend Title VI of National Housing Act, draft of letter to Chairman Wolcott of House Banking and Currency Committee stating views of Board, not to be sent at 3/17 374 present time 414eillg and Home Finance Agency, Mr. Draper and members of staff to meet with representatives for discussion of matters, discussion in connection Legislation 5/18 790 with request of Mr. Divers to extend credit, opposition to extension of Title VI of National Housing Act, letter to Senate Banking and Currency Committee to be 482 prepared Letter to Senator Tobey, Chairman of Senate Banking and 3/30 Currency Committee, re undesirable features 4/2 of S. 2317 and S. 866 499 LA-Lax-1,y S. 866, copy of resolution of Federal Advisory Council sent to committees of House and Senate 5/7 739 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 219 Pages lic'using: (continued) Modernization and repair credits, arguments for and against 10/15 amendment to Regulation W National Housing Act, drafts of legislation to amend, opposition of Board to, advice to Bureau of the 3/3 Budget Ss 2790, to provide secondary market for mortgages to aid in financing of housing construction, considered undesirable, Secretary to advise 6/29 Bureau of the Budget Veterans, report on H. R. 4488 to authorize Administrator of Veterans Affairs to charter and supervise veterans homestead associations, Board 4/19 opposed to enactment Roueland Home Finance Agency: ' 111 prepared to create secondary mortgage market, Board opposed to, Secretary to advise Bureau of 2/13 the Budget Letter from Mr. Foley to Senate Banking and Currency Committee re H. R. 2799 implying Board 5/7 approval, discussion Further discussion, Mr. Clayton to confer with FDIC and Treasury re sending letters, Board to send letter to Senate Banking and Currency Committee if other letters not to be sent 5/10 at once Interest rate on mortgage loans, proposal to increase not 8/20 favored by Board Ne regulation on consumer instalment credit, request of Mr. Foley that blanket exemption of repair 8/10 modernization loans not be included in Rem ir and modernization loans, discussion of making 8/17 subject to provisions of Regulation W Reg ---on atiul W, amendment to include home repair and modernization credits, reply to letter from Mr. 10/6 Foley re Ii()148itig Policy: Eeeles, M. s., statement to Joint Committee on the Economic Report and letter to Treasury re, letter to Representative Gamble calling attention to, discussion of, matter referred to 2/6 Messrs. Eccles and Szymczak Letter , T, Chairman Gamble, Joint Committee on Housing, to be revised and sent when in form satisfactory 2/19 to Messrs. Eccles and Szymczak Letter to Joint Committee on Housing, not to be sent since wals 3/1 message sent by President to Congress E., Regulation T, sections 4(c) and 6(f), amendment proposed to permit counting of funds as received before receipt of check, not con10/25 sidered desirable http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1762 301 1060 606 175 728 744 1346 1260 1293 1710 155 233 290 1812 Indebtedness and outside business relations: Erickson, Joseph A., President of FRBank of Boston, question of directorship of Boston Edison Company, Chairman McCabe to settle matter after discussion of Board policy with Messrs. 11/9 Creighton and Erickson F landers, Ralph, former President of FRBank of Boston, reference to exception to policy of Board re service of Presidents as directors of 11/9 outside corporations G lascock, Robert Paul, appointment as assistant examiner at FRBank of San Francisco approved, no objection to indebtedness to San Francisco Bank 4/21 11°Yle) Luther Milton, assistant examiner at IRBank of.Boston, 12/17 additional information requested re Neff, Franklin, examiner at San Francisco, obligation to member bank to be transferred to nonbank holder 12/9 Offleers of FREanks, discussion of, letter outlining views 1/23 of Board to be prepared for FRBanks °fricers and employees of FRBanks, advice re Board's policy 3/24 P re oldents of FRBanks, discussion of policy re service as directors of outside corporations, in con11/9 nection with appointment of Mr. Erickson Staff of Board, discussion of questionnaires and of three special cases, staff to be notified of 1/23 Board's position re teaching activities of Board re, memorandum to employees re 3/24 'caching assignments, discussion of requests for permission to accept, no change to be made in lident policy 9/7 . ' m bankers:'llolding company legislation, representatives to be in11111 7/6 vited to attend meeting to discuss epet,A_ *4"cnt Bankers Association, representative group to be 1/23 entertained at luncheon -ve council to be invited to luncheon on February 25, 1/30 1948 4.446L /3 ankers Association, officers to be entertained at luncheon on February 5, during visit to 14. 1/16 mztritia Vashington loan associations, question of eligibility of Staunton Industrial Loan Corporation, 6/24 Va., for membership in FRSystem Staunton, 4PPlicA+4 -"4-on for membership in FRSystem not to be considered favorably 9/1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 220 Pages 1873 1873 616 2153 2094 105 438 1873 103 438 1444 1086 113 135 86 1021 1417 221 Pages Inf lation: Anti-inflation program of President, Mr. McCabe to testify before Senate Banking and Currency Committee, statement approved, ratified, and con7/29 1177 firmed Boa,s response to FAC general statement re situation 9/21 1567 Credit field, discussion of part played by banks, at meet11/16 1912 ing of FAC with Board Credit policies, statement of kAC re measures to combat, 2/17 198 discussion at meeting with Board Eeci es, M. S., statement before Joint Committee on Fconomic 507 Report, April 13, 1948 Federal Advisory Council general statement re situation 9/21 1563 Joint Committee on Economic Report, hearings re, Mr. Eccles to appear before to make statement concerning actions to combat, statement to be submitted 342 to Board 3/9 Monetary and credit field, means to counteract, topic to be placed on agenda for discussion at meeting 548 4/7 of FAC Mean5 in pressures counteract to field credit and monetary that might be created by new defense proposals, FAC opposed to increase in reserve requirements, discussion and views of all 661 4/27 members presented Morietary and fiscal aspects of, grant to Iowa State College 629 4/23 to help meet expenses of conference on Pour_ 'Y and recommendations for legislation to restrain, memorandum of Mr. Thomas with summary of of directors of research at FRBanks 7/23 1152 replies Reserve central reserve city banks, increase of requirements in view of proposed world aid and military expenditures to restrain credit expansion, discussion at suggestion of Mr. Evans, matter to be considered again at meeting after 478 3/30 miadle of April Reserve requirements of member banks in central reserve cities, increase to combat, discussion, 625 4/23 matter to be considered again State , °I Union message, measures for restraint stated in 2004 12/1 letter to President Stet of of Board meeting at FAC of and discussion ement Itiro 11/16 1908 causes 113tIktiori: ' 44k holding companies, statistical information requested by Mr. Hickok for thesis, reply to letter Soa, sent to Senator Tobey 4u m embers, divisions, etc., sent to Mr. G. L. Bach for use in connection with work on Hoover Commission http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3/25 448 7/1 1073 222 Pages Info rmation: (continued) Credit re importers of Japanese products and prospective exporters to Japan, Board and FRBanks to furnish confidential material upon request of Department of Army, advice to Secretary 10/15 Royall FR8ystem, activities in territories of U. S., reply to letter from Mr. Davis, Department of Interior 7/9 Industrial loan experience data, no objection to furnishing to student of Wharton School of Finance and Commerce, advice to FRBanks 4/14 Leaks: Pleeson, Doris, article in Evening Star giving votes of Board members on changing of Chairman McCabels statement before House Banking and Currency Committee, discussion but no 8/4 action taken Pel'sonnel files, examination or request for information from, discussion in connection with case 8/24 of Lauchlin Currie Permission granted to Senate Investigations Subcommittee to examine file of Lauchlin Currie as no 8/25 loyalty investigative data included in -rso nnel, requests from Congressional committees, state8/25 ment by White House re .. 1 by large depositors for more detailed information 2/6 on condition of banks 10 be discussed with Federal Advisory Council and Con2/16 ference of Presidents Discussion at FAC meeting, question of making information part of condition reports to be placed on agenda for consideration at next meeting 2/17 of FAC DiSCUssion at Presidents Conference, FRBank to be advised of request made to Board, matter of written requests to be discussed with other 2/27 bank supervisory agencies R"erves for contingent losses in trust departments, request by ABA for, letter to Mr. Stephenson 11/18 Stati -stical ) regulations governing the furnishing of statistical information to public international organizations, as amended at NAC staff meeting on August 25, no objection to proposed Executive Order, advice to Bureau 8/31 of the Budget dsPartments, banks which have recently closed or opened, no objection to sending names and information to Mr. Seftenberg, Duluth, Minn., 4/15 advice to FRBank of Chicago t B., President, National Electrical Wholesalers Association, New York City, reply to inquiry re applicability of Regulation V to sale of refrigerators to owners of apartment houses 11/1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1773 1103 585 1224 1374 1377 1377 154 189 213 282 1941 1415 588 1838 223 Pages Press, practice to be followed in connection with, discussion in connection with article by Doris Fleeson giving votes of Board members re changing of Chairman McCabe's statement before House Banking and Currency 8/4 Committee Institute for Advanced Study at Princeton, study of savings sponsored by life insurance companies to be 9/14 conducted at IllsUranoe, PPBank of Minneapolis, hospitalization insurance for employees to be provided from Connecticut General 3/22 Life Insurance Company FRBank of New York, revision of group policy with EquAable Life Assurance Society to provide additional coverage for employees and officers, acknowl7/13 edgment of letter re Federal savings and loan, legislation to reduce insurance 5/26 premiums, no action on S. 2417 Gr' • c 111) life, increase in amount of insurance payable, reply to letter from Aetna Life Insurance Company 6/16 Revision of policy of FRBank of New York with Equitable Life Assurance Society to provide additional coverage for employees and officers, acknowl7/13 edgment of letter Excess premiums paid by employees to be carried forward as reserve, to be used before further contri8/9 butions by Board Accounting method, reply to letter from FRBank of St. 12/28 Louis re continuance of procedure Loss „ Sharing Agreement, amendments proposed by Presidents Conference approved by Board, advice to Mr. 5/21 Leach Mr. Vest authorized to serve as advisory member of Legal 11/23 Subcommittee to study revision of RegUla+4 --Lon WI applicability to loans to pay fire and casualty insurance premiums, reply to letter from Barnett National Bank of Jacksonville, 10/13 Florida S. 2417, to reduce rate of assessment for insurance of savings and loan shares, report by Mr. Clayton re 6/1 developments S. 2526,, to remove limitation upon maximum deposit insured by FDIC, Board opposed to enactment, advice 7/2 to Bureau of the Budget State 8 "lc of Townsend, Montana, question of fidelity insurance coverage, matter to be deferred 6/23 Stild until next examination Y of savings by life insurance companies, Mr. Riefler not to preside at meetings of advisory com9/14 mittee making http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1224 1501 398 1115 849 959 1115 1249 2235 828 1970 1756 882 1080 1017 1500 224 Pages ilisurance companies: Class C directors of FEBanks as directors of, mentioned in connection with appointment of Mr. Robert T. 5/7 Stevens at New York Government securities, sale by, monthly letter of Naticnal City Bank, New York, reference made at meet11/16 Los.ing of FAC to no, sale of government securities to make, discussion of 9/7 objections to activities 9/21 FAC stutement and discussion re 9/21 Discussion at meeting of FAC 9/21 discussion re, meeting FAC Statement of Mr. Burgess at MetroPolitan Life Insurance Company, Regulation W, routine check in connection with, advice to FRBank 11/22 of St. Louis Steljens as direcior absence of leave on be Robert T., to of Mutual Life Insurance Company of New York, in connection with appointment as Class C 5/14 director of FEBank of New York Irlterest: . Abs ,"rPtion of shipping charges as indirect payment of, letter 3/16 to PolkCountyriank,Bolivar, Mo., on practice Bow • ' Issue of City of Austin, Texas, correspondence with 3/25 Representative Johnson on cost of Cotamr,,• to respect with policy loans, 7 3 a11, Credit Corporation ' division of interest, discussion at Confer12/1 ence with Presidents pep,sit— with compliance bank, national of advertisement 5/13 provisions of Regulation Q as to payment of —03tes, rate established for three months period ending 1/2 Dec. 31, 1947, advice to FRBanks Rate to be paid by FRBanks to Treasury for quarter 4/27 7/23 te established for three months ending June 30 10/27 (Ist e established for three months ending Sept. 30 moll ;ee also FRnotes) 'Ellge loans proposal of Housing and Home Finance Agency 8/20 to increase, not favored by Board 4ivat / i e 7-re, operation as payment of interest on deposits, 7/1 Reserv Question raised by several banks 12/28 Reser e balances, discussion of suggested legislation yes, question of payment on balances discussion in 111+uewl 12/31 connection with proposed legislation 4-Lock; Gris47ng directorates: °1d, Donald R., applicability of Clayton Act to services as director of Vindsor Trust Company, Windsor, Conn., as Vice President of Connecticut River Banking Company, Hartford, Conn., and as Vice President of Travelers Bank and Trust Company, Hartford, Conn., Windsor and Hartford deter4/22 mined not to be contiguous or adjacent r http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 732 1914 1453 1563 1570 1573 1955 768 373 449 2018 764 5 679 1155 1822 1346 1070 2221 2248 619 225 Pages interlocking directorates: (continued) 4ekson, N. Baxter, director of French American Banking Corporation, proposed relationship not to 5/12 be prohibited by amendment lo Regulaticn L ICeeland, J. 14., service as director of Almeda State Bank, Houston, Texas, Harrisburg National Bank, and Heights State Bank, to conform with 9/28 Section 8 of Clayton Act I 11ation L, proposal to amend approved, Counsel's Office * to work out details after consultaticn with Counsel for FRBank of New York, existing relationships to continue and proposed relationship involving Mr. N. Baxter Jackson 5/12 not to be prohibited Am 7/1 Amendment approved, advice to FRBanks Amendment to section 3, statement to be published in 7/1 FRBulletin ;riationa.1 Bank for Reconstruction and Development: illter tinnual meeting of governors to be held in Washington, governors and other members of delegations 9/10 to be invited to luncheon S. 2564, Lo Securities from L exempt securities issued by, Act of 1933, Securities Exchange Act of 1934, and Secticn 5136 of Revised Statutes, Board in favor of enactment, advice to Mr. Tohey, Chairman of Senate Banking and Currency Committee, and to Mr. Wolverton, Chairman of House Interstate and Foreign Commerce Com5/6 Ititetnat mittee ienal developments, report by Mr. Dembitz on European ItIterna 8/10 Recovery Program ti Abt °nal Monetary Fund: 1411 meeting to be held in Washington, governors and other members of delegations to be invited to 9/10 luncheon -natin,, -441-1- Monetary Fund and International Bank, included in discussion by Mr. Knapp of NAC activities 3/19 Meetin, -.5 of Board of Governors to be held in Washington in 7/23 Thirci a September nnual meetings of Governors, report to be sent to 10/4 Board etstEcte of discussion for procedure ommerce Commission, matters with railroads contrasted with 11/16 401,4 FAC discussions with Board Ped,,j-es: it ventory Control System, report by Bureau of the Budget, copy acknowledged, but program 7/1 not applicable to Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 760 1625 760 1071 1074 1480 712 1252 1480 387 1163 1672 1915 1073 226 Pages Investment policy of retirement system, discussion at meeting 1683 10/5 with Presidents Investment trusts, proposal being considered by committee of Pennsylvania Bankers Association of large trust company selling participations to 11/29 1988 trusts in small trust companies 1tvestors League, Inc., invitation to Chairman McCabe to 8/2 1202 attend meeting of 41111 Bankers Association: Ilegulation W, reply to Mr. Warner re letter from nonmember 11/24 1977 bank in Iowa Iou 4 State College, grant for conference on monetary and fiscal aspects of inflation problem approved, budget of Division of Research and Statistics to be 629 increased to cover 4/23 James, C. Clinton: Regulation W, reply to proposed amendment to exempt instalment loans secured by shares of stock in Japaz 10/22 1808 building and loan associations Credit information re importers of Japanese products and prospective exporters to, Board and FRBanks to furnish confidential material upon request of Department of Army, advice to Secre10/15 tary Royall illancial data, staff of Board unable to furnish assistance for work on 5/4 Miss; -an) Mr. Young to serve as head of and Mr. Hersey to 5/10 serve as member Miss. lon of Messrs. Young and Hersey to, recommendations of mission approved and to be supported by 6/22 Chairman McCabe at meeting of NAC 4114°n, C. B., Aetna Life Insurance Company, increase in amount of insurance payable for group life, trob.s 6/16 reply to letter from -`4480n Mr. and Mrs. Hirschie, bank purchase of notes from Fruehauf Trailer Company, compliance with Regulation U, reply to question sent to 5/19 Congressman Fisher aqilt greem^ tat.k 1773 703 747 986 959 802 xamination procedure, discussion of revision of joint agreement of 1938, modifications to be made only after consideration and agreement by 4• 10/5 °lilt St three agencies concerned 1694 Ex atements: nation policy, issuance to be discussed at conference of Vice Presidents of Examination Depart2/6 158 ments 44raination procedure, 1938 agreement, not followed at present by Comptroller of the Currency and FDIC, discussion to be continued by Mr. Clay181 ton at meeting with Messrs. Delano and Hanl 2/13 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 227 Pages Joint statements: (continued) Supervisory banking agencies re request of large depositors for information of condition of banks, issuance to be discussed at Presidents Conference 2/16 Kaiser-Frazer, Regulation W, proposals for amendment to permit relaxation of terms for sale of new automobiles, reply to letter from FRBank of NewYork12/23 Kaufman, Charles L., reply to inquiry re consideration of U. S. Savings Bonds as readily marketable securities 1/16 1CelleY Blue Book: APPraisal guide, list of regions applicable to sent to 9/15 Mr. Kelley 4endall, Charles, National Security Resources Board, legislation to cover emergency, informal statement to be made that Board would be interested to include guarantee of war contract 4/14 loans and consumer credit controls X4mmse, Herbert E., Regulation W, cooperation re enforcement requested of National Association of State 9/29 Small Loan Supervisors, New York her, William H., Mgr., Continental Home Improvement Company in Baltimore, Md., Regulation 'V, reply to letter re proposed amendments on moderniza10/1 tion loans 4ight, F. m e, reserve periods for central reserve computation and reserve city banks, proposed changes 10/12 discussed with ICiartz '14. F., to represent Association of Reserve City Bankers at meeting to discuss bank holding company L 7/6 legislation fleureux He rve J., material affecting interests of Transamerica Corporation and Bank of America, Mr. Townsend to discuss request of Senator Leal, 3/24 Tobey with Furniture Company: "Valation W, applicability to sale of replacement for defective stove sold on instalment plan, Lateer „:1 11/12 advice to FRBank of St. Louis '-enator Villiam, compilation of employees and offices of Board in each State, reply to request ti4 American .4/12 from countries, discussion by Mr. Dembitz of financial 44.44 8/20 condition Doris, article in Evening Star re votes of Board members on changing of Chairman McCabe's statement before House Banking and Currency Committee, discussion but no action taken http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 189 2195 82 1509 580 1641 1669 1740 1085 433 1895 570 1339 8/4 1224 228 Pages Leased wire system: Closing hours for acceptance of inter-district telegraphic transfers of funds, report of Presidents Conference Committee on Operations to clarify authority of FRBanks to accept requests for transfers later than the official closing 2/27 hour approved Telegraphic transfers of funds, amendment to Paragraph 6 of regulations re closing hours for acceptance of inter-district, recommendation ofPresi3/9 dents Conference approved Lea ves of absence: pin, Harold F., economist, granted leave without pay 4/27 for treatment for illness C°°mbs, Charles A., FRBank of New York, extension of leave 10/22 at request of ECA FRBank of New York, leaves of Messrs. Adler, Wallich, Coombs, and Baran for foreign missicns, no objection to, but information before definite arrange6/18 ments in future desired FRBanks: Sick, limited to six months in two-year period, cases exceeding limitation to be submitted to 4/2 directors or executive committee of Bank Vacation, not to exceed 26 working days in year, no 4/2 change to be made in present regulations Ford, Mrs. Dorothy H., clerk in Division of Bank Operations, granted additional leave without pay after 9/16 maternity leave Griffith, Mrs. Flora J., Chief Telephone Operator, advance of sick leave, to be charged against leave 5/14 subsequently accrued Grove for without pay David L., economist, granted leave six months to assist in setting up Philippine 9/21 Central Bank Granted leave without pay to assist in setting up Philippine Central Bank, advice to Secretary 10/5 /lerCuaderno seY) Arthur B., granted extension of time for assignment 12/15 re Brazilian mission 4Ybal ) Mille, FRBank of New York, granted leave to act as consultant to Economic Commission for Latin 10/22 America Mem _ e brs of Board, procedure for informing Secretary's 6/8 Office of contemplated absences Memb ers of Board and official staff, procedure for report11/19 ing contemplated absences Mitch 1 e4.11 George W., leave without pay from FRBank of Chicago to act as consultant on management problems of Bureau of Internal Revenue, 7/9 no objection to http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 269 344 678 1805 973 505 505 1514 786 1540 1703 2128 1805 910 1950 1100 229 Pages Leaves of absence: (continued) Mitchell, George Y.: (continued) Senior Economist at FRBank of Chicago, leave without pay to serve in Governor's cabinet as Director of Finance for State of Illinois, 12/28 2225 no objection to Pelletier, Mrs. Ludmila G., file clerk, granted leave without pay for period March 1 - 26, 1948 559 4/8 Reeves, Mrs. Dorothy D., secretary to Mr. Young, granted 5/20 807 extension of leave without pay Tate, He nry, laborer, granted leave without pay to enter military service under Selective Service Act 12/15 2129 of 1948 /Toting, approved for all election days 8/5 1230 ' allioh, Henry, FRBank of New York, extension of leave at 10/22 1805 request of ECA overdrawn leave and sick clerk, ts°n, Mrs. Mary H., file further required sick leave before retire6/16 955 ment not to be charged against record Robert E., Chief, Investigative Staff, House Committee on Appropriations, information re rentals of office mechanical equipment and business 9/22 1593 Legislation: machines sent to Attiinflation Act of 1948, request for report on S. 2126, not to be made until bill is actively con2/6 sidered Bill to be submitted by Administration, to recommend Board authority to increase reserve requirements of member banks, discussion of author7/27 ization for commercial banks also Statement of Mr. McCabe to be made before Senate Banking and Currency Committee approved, ratified, 7/29 and confirmed Mr. McCabe to testify before House Banking and Currency 7/30 Committee, discussion of statement Statement of Mr. McCabe before Banking and Currency Committees, revision to change wording re inclusion of nonmember banks in proposed 8/2 reserve legislation approved Assistance by member of Legal Division in drafting language re credit controls requested by Senate Banking and Currency Committee lawyers 8/6 Statement by Board to be issued only after signature of bill by President, opinion not to be expressed 8/6 on what should be President's decision /11c holding company bill, present status, FAC to consider sending resolution in favor of, to Banking 2/17 and Currency Committees and Senator Taft Meeting at Treasury to discuss, report by Mr. Riefler, no action to be taken, Chairman McCabe to submit 6/8 recommendation for next session of Congress http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 157 1166 1177 1179 1189 1242 1242 215 915 230 Pages Legislation: (continued) Bank holding company bill: (continued) Discussion of question of meeting with Mr. Thomson, representatives of ABA, Reserve City Bankers Association, and others to agree on bill for enactment, Chairman McCabe to study matter further 6/23 1015 Meeting with representatives of groups interested in, Chairman McCabe to arrange for September and to extend invitations 7/6 1084 Luncheon meetings with representatives of holding company groups to be arranged by Mr. McCabe to discuss 7/15 1119 Meeting with representatives of holding company groups held at Board, discussion of propos0 bill 9/10 1483 OPposition of Transamerica Corporation to, statement of Mr. Townsend after conference 9/10 1484 Views of FAC requested, matter to be placed on agenda for next meeting 9/10 1493 Resolutions of Federal Advisory Council approving enactment of S. 829 with amendments, position of Council reaffirmed, discussicn of conferences being held at Board 9/21 1585 Meeting of representatives of National Association of Supervisors of State Banks to be held on November 29 to discuss, Messrs. Rapport, Amundson, Sparling, Bell, Hospelhorn, and Brumbaugh expected to be present 11/9 1877 Proposals to be made for control and regulation, advice to Bureau of the Budget 11/30 1999 'ulches of national banks, support of American Bankers Association requested to eliminate discrimination 3/18 385 C131-tal requirements for establishment of branches by national banks, change opposed by Comptroller of the Currency, action to be deferred, draft of amendment to be prepared after adjournment of Congress 1/30 132 CaPital requirements for admission of State banks to membership, discussion at Presidents Conference of proposed minimum of $50,000, legislation not to be presented to Congress at present session, draft of amendment to law to be prepared and to be sent to FRBanks for 2/27 281 consideration Pr °Posed bill to modify, copy sent to FRBanks and comments requested 4/30 694 11 to modify, discussion at Presidents Conference, suggestions to be considered in preparation of bill to be submitted to Congress 5/21 817 Eli 4 'IL-nation of statutory requirements, matter to be discussed further in September or October 7/27 1169 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 231 Pages Leg4-slation: (continued) Capital requirements of member banks: (continued) Proposals to be made to Congress re impediment to membership in FRSystem, advice to Bureau 11/30 of the Budget Central bank legislation, services of Mr. John Exter to Government of Ceylon for six months approved 10/19 Compensation of heads and assistant heads of executive departments and other officers of Federal Government, bill to increase, draft of 12/6 letter re to be' revised Draft of bill to increase, letter expressing views of 12/7 Board sent to Bureau of the Budget Consumer FRBanks to be opposed to, credit controls, FAC requested to urge retail stores to alopt 2/17 more conservative terms Draft to be submitted to National Security Resources Board and Counsel to collaborate with in 5/10 working out desirable changes Mr. Thomas to attend meeting at White House and to make statement re continuance of Board authority 7/23 to regulate Draft of statement to be prepared for use in testimony, Board in favor of continuation of authority 7/27 for two years To be discussed by Mr. Evans before House Banking and Currency Committee, discussion of power with7/30 out legislation re bank reserves advocated as single regulate, not to Authority of Board piece of legislation, Mr. Evans to testify 8/2 before House Banking and Currency Committee Reinstatement of controls, Board not to issue statement re until after passage, discussion of request of Representative Monroney for state8/5 ment Statement to be published in FRBulletin 8/26 Proposals to be made concerning authority to regulate, 11/30 advice to Bureau of the Budget Authority to continue regulation, paragraph approved for inclusion in Economic Report of Presi12/17 dent P roposals for authority, request of Council of Economic Advisers for drafts, matter to be discussed 12/21 further Draft of bill for permanent authority approved, to be submitted to Council of Economic Advisers, 12/22 alternative drafts to be prepared later PO ssible inclusion in omnibus bill discussed 12/23 Not to be included in omnibus bill, reJuest to be 12/28 made at proper time http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2000 1780 2063 2076 214 751 1154 1167 1180 1199 1228 1391 1999 2148 2170 2175 2191 2225 232 Pages Legislation: (continued) Consumer credit: (continued) Chairman McCabe to discuss proposals with Chairmen ofBanking and Currency Committees, before decision 12/31 Conv ersion of national banks into or consolidation with State banks, legislation to permit, letter to ABA re form of bill 3/18 Question of bill to be submitted to FRBanks, discussion at Presidents Conference 12/1 H. R. 6570 and S. 2842 to authorize, change in situation re, draft of letter to Mr. Needham to be prepared for submission to FRBanks 12/3 Proposed legislation to authorize, Board opposed to, draft of letter to ABA sent to FRBanks for comments 12/14 Draft of letter to ABA stating opposition to, approved, procedure for advising Comptroller of the Currency and FDIC to be determined by Mr. Clayton 12/21 Views of Board discussed by Mr. Clayton with FDIC Chairman Han, to be discussed with Mr. Rapport before sending letter to ABA 12/23 Credit controls, recommendations for President's message, letter to Chairmen asking suggestions to be prepared 7/20 Recommendations to be included in President's message to special session of Congress, Mr. Thomas to prepare memo 7/20 Credit field, need for, views of Chairman McCabe expressed at meeting of Council of Economic Advisers 12/14 Crine_ -Laal Code, enactment by Congress of new, advice to FRBanks re procedure for reporting violations of Federal banking laws 8/19 b. rle,Y, draft to be prepared by National Security Resources Board to cover, informal statement to be made to Mr. Kendall that Board would be interested to include guarantee of war contract loans and consumer credit controls 4/14 '117c)Psa1 Recovery Program bill, provisions outlined and purposes discussed by Mr. Knapp 3/19 n Recovery Program for 1949-50, Mr. Southard designated representative to work with ECA in formulating plans for proposals 11/22 Lab Standards Act, classification of assistant examiners, Counsel's Office to take up with Wage and Hour Division on behalf of FRBanks which had requested it 2/19 Question of presentation of matter to wages and HoursDiv2/27 bis . ision, discussion at Presidents conference elission of views of FRBanks re taking matter up with Wages and Hours Division, letter to FRBanks to be prepared stating that Banks should abide by ruling of local office of' ,lazes and Hours Division 3/5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2256 384 2015 2034 2124 2164 2193 1131 1131 2115 1335 580 387 1954 240 285 308 233 Pages LepiQ, " 4-ablon: (continued) Fair Labor Standards Act: (continued) Matter not to be taken into courts, Banks to abide by ruling of local office of Wages and Hours 3/22 Division, advice to FRBanks FRAct, section 13b, bill to amend, discussion at Presi12/1 dents Conference -jstem, proposed program, report to be prepared for Bureau 11/9 of the Budget Gcad policy of FRSystem and Treasury, discussion at meeting of FAC and Board, problem to be consider9/21 ed at later date Hawaiian Statehood bill, H.R. 49, to admit as State, amendment to require national banks in any Territory to become members of FRSystem upqn admission as State, draft sent to Senator 1/27 Butler Amendment requested by Mr. Dewey, Chase National Bank, to help Bishop National Bank, Mr. Clayton to advise Mr. Dewey that amendment not considered 3/19 necessary Discussion of currency problem of Bishop National Bank by Mr. Clayton with Mr. Dewey of Chase National Bank of New York, no objection to consideration of establishment of currency 3/23 depot in Honolulu if needed Hearing to be held before Committee on Interior and Insular Affairs re, Mr. Eccles or Mr. Clayton to represent Board Letter from Mr. Waterhouse, President of Bishop National 4/7 Bank of Honolulu, and memorandum sent to FRBank of San Francisco Statement prepared by Legal Division to be used at hear- 4/7 ings re, Mr. Clayton to appear before Senate Committee on Interior and Insular Affairs and to ascertain if Chairman of Senate Banking and Currency Committee would be willing to send 4/14 letter to Committee Letter to Bishop National Bank, Honolulu, asking for 4/22 further consideration of bill 4°111e Loan Bank, report by Mr. Clayton on status, no further 5/26 action to be taken at present by Board Amendment to authorize Treasury purchase of obligations, discussion of Mr. Clayton with Mr. Pace, Bureau of the Budget, re, Treasury representatives to talk with Messrs. Wood and Solomon 9/20 before further discussion with Mr. Pace Me orandum from Messrs. Young, Solomon, and 'Wood re amendment, discussion with Messrs. Lynch and Ranta of Treasury, draft of statute to be 10/1 prepared and presented to Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 399 2016 1880 1581 121 389 428 552 557 582 621 849 1531 1666 234 Pages • Legi slation: (continued) Rome Loan Bank: (continued) Discussion of proposed draft of amendment, matter to be discussed by staff with FDIC before further 11/9 1874 consideration by Board Amendments to authorize to borrow from Treasury, memorandum discussed, draft of legislation to be submitted to Bureau of the Budget and to such others as suggested by Bureau, matter to be taken up with ABA, FAC, and Reserve City Bankers Association later if agreement ex2068 pressed by Bureau and Home Loan Bank System 12/7 Proposed amendments to H. R. 2799 to permit borrowing from Treasury, draft and memorandum sent to 2140 12/16 Bureau of the Budget R. H. R. 49: (See supra Hawaiian Statehood bill) 2799, to amend Federal Home Loan Bank Act, Title IV of National Housing Act, and for other purposes, comments sent to Bureau of the Budget re bill 4/16 596 and proposed amendment Revised bill still opposed by Board, Mr. Clayton to discuss matter with FDIC and Treasury officials and find out from Mr. L'Heureux of Senate Banking and Currency Committee whether hearings might be held or whether statements 728 5/7 could be filed Mr. Clayton to obtain views of Treasury and FDIC re sending letters opposing, Board to send letter to Chairman of Senate Banking and Currency Committee if other letters not to be sent 744 5/10 at once Amendment by Housing and Home Finance Agency to, Board opposed to, advice to Chairman Tobey, Senate 755 5/11 Committee on Banking and Currency and Housing H°148ing, conferences of Board's staff with Home Finance Agency, Mr. Draper and staff 5/18 790 members to meet for discussions Let Lett and opposing provisions sent to Senate Banking 792 5/18 Committee by FDIC Posed amendment, resolution of Executive Committee of FAC in opposition to, copies sent to 828 5/21 Messrs. Tobey, %liggins, and Harl Altendrnent proposed by Housing and Home Finance Agency, 1132 7/20 letter to Bureau of the Budget re Meeting at Bureau of the Budget to discuss possible changes, no change in Board's position, 7/23 1157 report by Mr. Thurston Pls°Posed amendments to permit Federal Home Loan Banks to borrow from Treasury, draft and memo12/16 2140 randum sent to Bureau of the Budget http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 235 Pages Legislation: (continued) Hs R. 3810, to amend Tariff Act re discretion of FRBank of New York to certify one or more rates of exchange, letter from FRBank to Chairman of Senate Finance Committee, no fur5/14 ther action to be taken 'R. 4488, to amend Servicemen's Readjustment Act of 1944, 4 Board not in favor of enactment, advice to 1/6 Bureau of the Budget of Administrator Proposed amendment to authorize Veterans' Affairs to charter and supervise "veterans' homestead associations", Board opposed to enactment, letter to Hon. Edith 4/19 Nourse Rogers R. 4790, to reduce individual income tax payments.and for other purposes, request from Bureau of the Budget for report, letter opposing general reduction of taxes at present to be revised 3/30 and resubmitted to Board Board opposed to enactment, report to Bureau of the 3/31 Budget H. R. 5120, to amend Servicemen's Readjustment Act of 1944, Board not in favor of enactment, advice to 3/2 Representative Edith Nourse Rogers H. R. 5607, to reduce appropriation for Census Bureau to collect business statistics for 1949, letter to Director of the Census urging that collec3/23 tion of data not be interrupted H. R. 5854, to extend Title VI of National Housing Act, draft of letter to Chairman Wolcott of House Banking and Currency Committee stating views of 3/17 not to be sent at present time Board, H. 6570 and S. 2842, to authorize national banks to convert into or consolidate with State banks without going into liquidation, change in situation re, draft of letter to Mr. Needham 12/3 be prepared for submission to FRBanks to To a uthorize conversion of national banks into State banks, Board opposed to, draft of letter to 12/14 ABA sent to FRBanks for comments H. It!S!e also supra Conversion of national banks) u910, Postal Rate Revision and Federal Employees Salary Act of 1948, salaries of Board employees to be increased in conformity with, 6/25 if signed by President 778 24 606 481 488 296 427 374 2034 2124 1037 H. R. 2799, to amend Federal Home Loan Bank Act, Title IV of National Housing Act, and for other purposes, comments sent to Bureau of the Budget 4/16 re bill and proposed amendment (See also supra H. R. 2799) http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 596 236 Pages Lerqs . lation: (continued) Housing Act of 1949, views of Board requested by Bureau of the Budget, matter to be considered at meeting next week 12/31 2261 11°using aid, bill prepared by Housing and Home Finance Agency to create secondary mortgage market, Board opposed to, Secretary to advise Bureau of the Budget 2/13 175 °using policy, letter to Chairman Gamble, Joint Committee on Housing, to be revised and sent when in form satisfactory to Messrs. Eccles and Szymczak 2/19 233 Message sent to Congress by President, Board's letter to Mr. Gamble not to be sent 3/1 290 Draft of letter to Chairman Wolcott of House Banising and Currency Committee stating views of Board, not to be sent at present time 3/17 374 OPposition to extension of Title VI of National Housing Act, letter to Senate Banking and Currency Committee to be prepared 3/30 482 Letter to Senator Tobey, Chairman, Senate Committee on Banking and Currency, re undesirable features of S. 2317 and S. 866 4/2 499 Mr. Draper and members of staff to meet with representatives of Housing and Home Finance Agency for discussion of matters, discussion in connection with request from Mr. Divers 5/18 790 Amendment to H. R. 2799 to authorize Treasury purchase of Home Loan Bank obligations, meeting to be held at request of Mr. Pace if desired, Messrs. Vest and Thomas authorized to select representatives 7/20 1132 illdUstrial loans (S. 408 and H. R. 3268), proposals to be made to Congress re, advice to Bureau of the Budget 11/30 2000 recommendations for restraint, review of replies to wire to directors of research at FRBanks asking views 7/23 1152 Xano-'s State law authorizing State banks to purchase stock of trust companies, does not give right to State member banks 5/4 701 ktio 441 Housing Act, drafts to amend, opposition of Board Prto,advice to Bureau of the Budget 301 .3/3 ()Posed increase in maximum interest rates on mortgage loans insured under, Board in favor of deferring, advice to Bureau of the Budget 8/20 1346 1414,011 'a-1- Monetary Commission, draft of bill creating, Mr. Vest to assist Mr. L'Heureux, Counsel of Senate Banking and Currency Committee in preparing 10/8 1723 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Legi 237 Pages slation: (continued) New York State, discrimination against foreign banks, information sent to Secretary of State for forwarding to American Embassy at New Delhi, 3/11 India Noncontroversial for proposal to Congress, matter to be 7/27 deferred until September or October Omnibus bill to carry out President's program, consumer credit possibly to be included in, but reserve requirements to be in separate bill, Dr. Nourse 12/23 to be advised Stabilization Act of 1949, memorandum of Messrs. Young and Solomon summarizing draft, discussion of provisions, reserve requirements and consumer 12/28 instalment credit not to be included,in Pr °gram of FlOystem, draft of letter to Budget Bureau, discussion at Presidents Conference, no objection 12/1 to ProPosals, report of Mr. Thomas of meeting at Bureau of the 11/16 Budget re, discussion of credit controls Staff committee appointed to prepare alternative drafts for presentation at next session of Congress 11/17 Advice re principal subjects sent to Bureau of the 11/30 Budget Puerto . Rico, possible revision in banking laws, discussions 5/27 with Dr. B. Di Venuti tes monthly require to bill fixing, for discount, schedule instead of every 14 days, discussion at 12/1 ResePresidents Conference I've requirements, inclusion of nonmember banks in proposed legislation, Mr. Vest to assist Mr. 8/2 McKenna in drafting Draft of bill to be revised to give Board authority to increase requirements for member and nonmember banks with same flexibility now applicable to member banks, Mr. Vest to submit copy to 8/3 Mr. McKenna Authority of Board to increase, draft of bill to be revised, Mr. Vest to deliver copy to Mr. McKenna, Mr. Clayton to transmit copies to Mr. Hospelhorn, and copies to be sent to , 8/4 FRBunk counsel for suggestions Increase for member banks, authority of Board re, discussion of Representative Monroney's request for statement by Board, but no statement to 8/5 Goldbe issued until after passage against deposits and FRnotes, Board not to issue statement until after passage of, discussion 8/5 of request of Representative Monroney • Additional authority of Board, action re increase for member banks in central reserve cities to be deferred until outcome of pending legislation 8/6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 357 1168 2190 2223 2015 1924 1931 1998 874 2015 1200 1216 1221 1228 1228 1235 238 Legi Pages slation: (continued) Reserve requirements: (continued) Proposals to be made concerning authority to increase, 11/30 1998 advice to Bureau of the Budget Authority to increase for all insured banks, paragraph re need and statement of legislation to be prepared for submission to Chairman Nourse for inclusion in Economic Report of President 12/14 2116 Paragraph for inclusion in State of the Union Message 12/17 2146 and statement re for President approved Report of Economic President Paragraph for inclusion in 12/17 2148 approved requestcf Council of Economic Proposals for authority, Advisers for drafts, matter to be discussed 12/21 2170 further Discussion of three statements for State of the 'Union message and Economic Report, question of omitting sentence re applicability to all insured banks, Chairman McCabe to discuss 12/22 2177 matter with Secretary of the Treasury Draft of bill, copies to be sent to Board members and matter to be discussed at next meeting, in order to submit draft to Council of Economic 12/22 2179 Advisers Statements for inclusion in State of the Union message and Economic Report, presented by Chairman McCabe to Dr. Nourse at committee meeting, matter to be discussed further by Chairman 12/23 2190 McCabe, Dr. Nourse, and Secretary Snyder NcYt, to be included in omnibus bill, to be presented as separate bill to Congress after informal discussion with Chairmen of House and Senate Banking and Currency Committees, Dr. Nourse 12/23 2191 be advised Discussion to of authority covering all insured banks and of payment of interest on member bank reserve balances, members of Board to review list of questions in connection with draft of bill and 12/23 2191 matter to be considered further by staff Memorandum of staff views on questions re, discussion by staff members and Board, enforcement problems to be studied further by staff and another report to be submitted after consul12/28 2219 tation with Messrs. Vardaman and Clayton Ncit to be included in omnibus bill, request to be made 12/28 2225 at proper time Di ' s -usslon of applicability to all insured banks, special reserve plan, and payment of interest on supplemental reserve balances, Legal Division to 12/31 2247 prepare alternative drafts of bills Cha irman McCabe to discuss proposals with Chairmen of Banking and Currency Committees, payment of interest to be referred to on tentative basis 12/31 2255 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 239 Pages Legislation: (continued) Reserve requirements: (continued) Proposals to be discussed by Chairman McCabe with 12/31 Mr. Woollen, President of ABA 8/26 Reserves, statement to be published in FRBulletin Securities, proposed act to permit distribution of informFtion to public prior to registration or qualification for sale, no objection 9/17 to, advice to Department of Justice S. 408, statement in report by Senate Banking and Currency Committee of S. 2287, letter to Senator Tobey 3/23 Industrial loans, clarification of position of Senate Banking and Currency Committee by Mr. Tobey 4/2 desirable, Mr. Vest to advise Mr. L'Heureux '829, bank holding company bill, resolution by FAC favor3 ing enactment approved, copies to be sent to Chairmen and members of Senate and House Banking and Currency Committees and to Sen2/19 ator Taft Mentioned in advice to Bureau of the Budget re pro11/30 posals to be made S. 866, housing legislation, resolution of FAC sent to Chairman Tobey of Senate Banking and Currency Committee, and Chairman Wolcott and 5/7 Taft Senator S. 2 126, to amend FRAct to provide for special reserve plan, report postponed pending determination of 2/6 active consideration to be given to bill s. 2287, to amend RFC Act, report by Senate Banking and Currency Committee, letter to Senator Tobey re statement in report concerning Federal 3/23 Reserve lending authority Request from Mr. L'Heureux for more information, clarification of Senate Banking and Currency Committee's position re S. 408 by Mr. Tobey 4/2 desirable, Mr. Vest to advise Mr. L'Heureux No Buck 4/5 objection to, advice to Senator S. 2317 and S. 866, housing legislation, letter to Senator Tobey, Chairman, Committee on Banking and 4/2 Currency, re undesirable features S. 2111, and savings Federal —4-Li, to reduce insurance premiums on loan insurance, report by Mr. Clayton on, no further action to be taken by Board at 5/26 present To reduce rate of assessment for insurance of savings and loan shares, report by Mr. Clayton re 6/1 developments S. 2526) to remove limitation upon maximum deposit insured by FDIC, Board opposed to enactment, advice 5/4 to Senator Tobey B0 the of Bureau to advice enactment, opposed to 7/2 Budget http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2258 1391 1525 424 498 235 1999 739 157 424 498 538 499 849 882 702 1080 Legi slation: (continued) '2564, to exempt securities issued by International Bank for 8 Reconstruction and Development from Securities Act of 1933, Securities Exchange Act of 1934, and Section 5136 of Revised Statutes, Board in favor of enactment, advice to Mr. Tobey, Chairman of Senate Banking and Currency Committee, and to Mr. Wolverton, Chairman of House Inter5/6 state and Foreign Commerce Committee '2790, to provide secondary market for mortgages to aid in 8 financing of housing construction, considered undesirable, Secretary to advise Bureau of 6/29 the Budget 8. 2817, to amend subsections (s) and (y) of section 12B of FRAct, Board not in favor of enactment, report to Chairman Tobey of Senate Banking and Cur6/18 rency Committee 8. 2842, to authorize national banks to convert into and consolidate with State banks, no objection to enactment, advice to Chairman Tobey of Bank6/14 ing and Currency Committee of Senate ' Board opposed to, draft of letter to ABA sent to FRBanks 12/14 for comments S. 4 v570 to permit national banks to convert into or consolidate with State banks, amendment proposed to, opposed by Comptroller of the Currency and 6/11 FDIC, Board not to submit report 81 J. Re- 157, to regulate consumer instalment credit, etc. 8/9 passed by Congress and sent to President 8ervin"men's Readjustment Act, proposed increase in maximum interest rates on mortgage loans guaranteed by Veterans Administration under, Board in favor 8/20 deferring, advice to Bureau of the Budget of State , -Legislation, no proposals to be submitted to Council of 6/28 State Governments, advice to Attorney General State of Union message and Economic Report of President of U. S., outline of subjects to be included in to be prepared by Messrs. Riefler, Morrill, 11/9 Vest, and Carpenter Leg islative program, request for material, views of Board to be presented by Chairman McCabe 11/15 at meeting of FAC Legislative program of FRSystem, material requested by President to be discussed at later meeting 11/15 of Board PAc committee to submit recommendaticns re, executive 11/16 . committee to consider matter Leg islative program, discussion of material to be prepared in response to request from President, 11/16 matter to be considered further http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 240 Pages 712 1060 976 950 2124 934 1250 1346 1057 1880 1900 1901 1920 1924 Le.i(continued) State of Union message and Economic Report: (continued) Material requested for, procedure for preparation approved, staff committee appointed to prepare alternative 11/17 proposals for presentation to Congress Drafts of letter and memorandum to be revised in light 11/29 of discussion 12/1 Letter and memorandum re approved and sent to President Discussion at Presidents Conference of comments received from Presidents and of legislative program 12/1 to be recommended to President V1°.4L1 program, draft to be submitted to National Security Resources Board and Counsel to collaborate 5/10 Letters _ with in working out desirable changes A °r appreciation: '.)( Clarence W., Chairman and FRAgent at FRBank of Chicago, for services as reappointment not to be 11/26 accepted 12/21 George, for work on Regulation W matters Gan, Realj, John, for assistance in reinstitution of Regulation 9/24 11/9 Iettert, h) E. A., for services in connection with Regulation W ° of credit outstanding, value to exporters of information 7/20 by FRBank of New York t1breleased ary: Spec ial Libraries Association, conference to be held in Washington, reception for Financial Group and dinner for Federal Reserve librarians approved, budget of Division of Research and Statistics Libra 5/7 to be increased to cover of Congress: ee srenal "house-keeping" functions of Board, statement re sent cells 1/15 to Mr. Griffith a 14 241 Pages 1930 1984 2001 2012 751 1982 2172 1615 1881 1138 721 69 Gold 9/21 denials, discussed at FAC meeting with Board memoranda and publications, suggestion that notice of visits by officers and directors of Reserve Banks be placed on daily, Secretary's Office 4/2 to notify Board members without putting on 11°411 Orf n eraPloyees: -8Bes) Howard D., FRBank of New York, services available to Philippine Government to aid in establishment 12/13 of central bank kvi-2 'ton of Research and Statistics, members of Foreign Areas Section to work on temporary assignments with 6/23 ECA 8 nk officers, to work in Chairman's office for period of from 60 to 90 days, suggested plan of Mr. McOabe4/23 Qrant, " FRBank of New York, services to be loaned to tars 8/18 Board for work on Regulation W e bra ,Albert O., economist, to be assigned for part-time 6/16 work with RCA http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1581 502 2113 1017 648 1323 956 . of employees: (continued) Hirschman, Albert 0.: (continued) Loan of services to ECA during stay in Paris, formal request to be considered favorably Sherrard, Alfred, economist, loan of services to State Department approved Loan of services to State Department, assignment not to be accepted because of domestic situation Loans: 242 Pages Loan Agricultural and farm real estate loans, condition reports of State member banks to be available to FDIC for confidential use of ABA in compilation of Banco Central del Ecuador, loans by FRBank of New York approved Loan by FRBank of New York approved Loan by FRBank of New York approved ' allco do Brasil, loan by FRBank of New York to United States of Brazil through, approved Ban co Nacional de Costa Rica, loans by FRBank of New York approved Bank for International Settlements, loans under revolving Bankcredit by FRBank of New York approved Polski, extension of loan by FRBank of New York approved Renewal of loan by FRBank of New York approved Renewal of loan by FRBank of New York approved Renewals by FRBank of New York approved Renewal of loan by FRBank of New York approved "clue Centrale de la Republique de Turquie, increase in loans by FRBank of New York approved Bank of France, increase in loan or loans by FRBank of New York approved Three months extension by FRBank of New York approved Three months extension by FRBank of New York approved Extension of loan by FRBank of New York approved Extension of loan by FRBank of New York approved Extension by FRBank of New York approved :!newal 1 of five loans by FRBank of New York approved ',7rIewal of three loans by FRBank of New York approved liam_itenewal of loans by FRBank of New York approved -'iue de Grece, further extension of loan by FRBank of New York approved Re 2 1 0wal of loan by FRBank of New York approved Bari,"'newal of loan by FRBank of New York approved Nationale de la Republique Federative Populaire de Yougoslavie, loan by FRBank of New York approved Rene Britisv, wal of loan by FEBank of New York approved " loan agreement, discussion by Mr. Knapp of NAC activities including http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10/13 1755 3/23 430 3/29 473 1/21 97 3/11 7/23 9/9 358 1163 1475 4/6 542 10/15 1774 11/22 1957 327 3/5 6/8 925 9/3 1441 9/17 1529 2046 12/3 1/2 1/16 3/19 3/26 4/23 6/18 7/20 9/17 10/20 11/29 6 85 394 460 644 977 1139 1528 1793 1993 • 3/22 401 6/18 978 9/22 1599 8/17 1321 11/22 1958 3/19 387 144113: (continued) Business, interest rates charged on loans to, revised reporting form for collecting information, letter to FRBanks requesting views 1/8 Central Bank of China, extension of loan by FRBank of New York approved 4/9 co Renewal of loan by FRBank of New York approved 8/4 4111°ditY Credit Corporation, policy re loans and interest rates, discussion at Presidents Conference of possible change in rates, procedure for taking matter up with Treasury approved 10/5 Discount of notes of producers under program, amendment to Regulation A proposed to cancel negotiability requirement, comments of FhBanks requested 10/26 Question of increased interest rates for banks in connection with crop loans, discussion of Mr. Evans with Mr. Bartelt, no further action to be taken by Board at present, Mr. Evans to report developments at next meeting of Presidents Conference 11/5 Amendment to Regulation A proposed re discount of notes of producers under, considered unnecessary at present, advice to FRBank of Kansas City 11/10 P°11ay re loans and interest rates, comments of Mr.Evans at Presidents Conference, arrangement for making CCC notes eligible for discount by FRBanks to be worked out with 12/1 Credit risks, areas involving, greater than in period since war, to be discussed at meeting of FAC 2/2 Areas involving, greater than in period since war, statement of FAC re 2/17 eust°dY receipts of city correspondent banks as collateral for, topic for Presidents Conference 1/29 Discussion of policy for all FRBanks and arrangement for deposit of securities at FRBank of New York, at meeting of Presidents with Board, matter to be reviewed by Board and proposed 2/27 policy statement to be submitted to FRBanks Ace eptance by FRBanks 5/21 be ,Cocedure, revised statement approved, advice to FRBanks 7/2 be NeN,:asche Bank, loan by FRBank of New York approved 9/24 ueriandsche Bank, loan by FRBank of New York approved 3/26 • Exeet4t , enslon 9/24 of loan by FRBank of New York approved Q81-Ire borrowings by business concern or individual by spreading loans, matter discussed in connection with need for statement re examination FitBank 2/6 policy for coordination by all FRBanks of Richmond: 4-4aPloyees loan fund, temporary increase approved ,arlit 1/9 employees, loan funds, study to be completed, discussion in connection with FRBank of Richmond case 1/9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 243 Pages 30 569 1226 1697 1817 1855 1887 2018 141 213 128 270 811 1079 1619 461 1620 158 44 44 244 Loa (continued) FRBank employees' loan funds: (continued) Organization of credit unions suggested instead of, matter to be discussed at Presidents Con2/10 ference, advice to Mr. Sproul Discussion of loan funds and credit unions, at Presidents Conference, present arrangements to be continued, Board to establish basis for approval of 2/27 loan funds No objection to continuance of funds for, existing authorized limit not to be increased more than $15,000 3/12 without Board approval, advice to FRBanks Pirst National Bank in Richmond, California, loan to Minton Construction Company guaranteed by Var Department under Regulation V, Board not to intercede in case, advice to FRBank of San Fran6/18 cisco Government lending agencies, study by hoover Commission, material requested by Mr. Sproul to aid in 5/14 work as member of Commission Coordination of domestic policies, council desired by Council of Economic Advisers, Messrs. Young and Solomon to report on discussions at 12/21 informal conference outline informal Draft of letter to be prepared to means for, without contemplation of passage 12/21 of legislation Pr°Posed advisory group to coordinate domestic policies, draft of letter to be considered by Board 12/23 before submission to technical group Federal Loan Policy Committee, draft of letter re establishment approved, to be discussed with Mr. Lynch, Treasury Department, Secretary Snyder, and at meeting under auspices of 12/28 Chairman of Council of Economic Advisers Q"eillment securities, at par on, commitment made in 1939 2/13 and 1941, policy still in effect Industrial: 41ergen0Y legislation, discussion in connection with draft to be prepared by National Security 4/14 hesources Board FRBa,L. -4 of Cleveland, reserve against commitment on section 13b loan to Hanagan Brothers, Inc., 12/28 approved Inf ormation, no objection to furnishing data to student of Vharton School of Finance and Commerce, 4/14 to FRBanks advice POTfri for reporting quarterly information on interest 5/25 rates, to be revised Legislation, (S. 408 and H. R. 3269), proposals to be made to Congress re, advice to Bureau of the 11/30 Budget http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pagesrm: 167 279 364 974 780 2162 2168 2192 2216 180 580 2232 585 848 2000 245 Pages Loan s: (continued) Industrial: (continued) Legislation to amend section 13b of FRAct, discussion at Presidents Conference in connection with 12/1 legislative program of FRSystem S. 408, statement in report by Senate Banking and Currency Committee of S. 2287, letter to 3/23 Senator Tobey re Clarification of position of Senate Banking and Currency Committee by Mr. Tobey desirable, 4/2 Mr. Vest to advise Mr. L'Heureux V-loan procedure, reinstatement recommended by James P. 7/27 Orchard to aid manufacturers Lasurance companies, sale of Government securities to make, 9/21 discussion at meeting of FAC Sale of securities to make, statement of Mr. Burgess at 9/21 FAC meeting re, discussion Ilerchants Bank of Kansas City, Mo., secured by capital notes of Bank of Odessa, letter to Mr. 3/2 Hanl on Mortgage, for veterans housing, Board opposed to enactment 3/2 of H. R. 5120 Proposed increase in maximum interest rates on loans insured under National Housing Act and Servicemen's Readjustment Act, Board in favor of 8/20 deferring, advice to Bureau of the Budget Netherlands Bank, deletion of phrase "subject to approval by your Board of Directors" approved for proposed loan since approved by three directors, advice to FRBank of New York 3/29 Premiums on fire and casualty insurance, applicability of 10/13 provisions of Regulation W to Real estate, RFC participation, statement to be published in 6/2 FRBulletin Renewals and revisions under Regulation WI reply to inquiry of Mr. Craft of California Bankers 11/15 Association -on U, applicability to loan on registered stocks to make capital contribution to firm, reply to 5/10 of San Francisco re FRBank Repair modernization, procedure for making subject to pro8/17 visions of Regulation 1,:r ReportbY Mr. Thomas re increase of commercial loans at New York City banks, in connection with proposed 1/23 lieserve Bank increase in reserve requirements credit, discussion of prospective changes in connection with reserve requirements, matter 1/9 to be considered again bad debts on, changes in reporting on Forms FR 105 and 107 approved, Division of Bank Operations authorized to discuss proposed revisions with Executive Committee of Association of State Bank Supervisors and to agree to minor charges 4/13 Reserves for http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2016 424 498 1172 1570 1573 294 296 1346 477 1756 898 1905 749 1293 106 38 575 /4/811e: (continued) Secured by building and loan association shares, not exempt under Regulation W 10/22 Tables showing loans, losses and recoveries on, requests for current table on reserve method of accounting for bad debts, instructions to FRBank of St. Louis Loan 12/14 8 and discounts: National and State member banks, figures to be compiled from June 30, 1948 call reports 7/9 03e iseaf Service: LoveiRe,gulation 'W letters procedure for handling 12/10 O. B., absorption of exchange charges, reply to inquiry re letter from Wisconsin Life Insurance Company concerning practice of First National Bank, Madison, Wisconsin 10/29 LoyalZY Board, members and alternates appointed 1/6 Y information, Mr. Johnson authorized to make official visits to Federal agencies and outside organizations to obtain, access to files of House Committee on Un-American Activities LOyEti, requested 5/12 "Y program: APPlication form for position (Form FR 28), revision to conform with Civil Service Form 57 approved 9/7 Currie$ Lauchlin, request from Senate Investigations Subcommittee for permission to examine personnel file, decision deferred 8/24 Permission granted to Senate Investigations Subcommittee to examine personnel file, after discussions with available Board members and decision that file contains no investigative data 8/25 lilalP1oyees Pe of Board, procedure adopted 1/6 l's"nel files, release to Congressional committees, procedure followed by Treasury Department and Department of Commerce, discussion in con8/25 nection with case of Lauchlin Currie Pr'c'eeduree, amendment approved, favorable reports to be made to Chairman of Personnel Committee by 7/22 Loyalty Board Revised draft approved Status 9/23 in Board of Governors, letter to Civil Service Cornmission 3/31 141 bitten interrogations authorized for use of Loyalty Board 6/18 to obtain information from employees e4a, 1411,„ Re -Gate: 4-Leona. 246 Pages 1808 2123 1103 2104 1835 24 758 1446 1374 1377 20 1377 1145 1607 492 968 reply to letter from Mr. J. W. Butcher re applicability to pianos • -4 holdi -ng company legislation, meetings with representatives of holding company groups to be arranged by Mr. McCabe to discuss http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9/16 1523 7/15 1119 247 Pages bnIcheons: (continued) Board members, procedure for serving in offices and purchase 327 3/5 of equipment necessary for, approved for messengers OPposition of Mr. Vardaman to use of 337 3/9 serving Brainard, George C., and Gidney, Ray M., to have luncheon with Board and Officers of Ohio Bankers Asso609 4/19 ciation Colorado Bankers Association, invitation by Board extended 589 4/15 to Mr. Breeze for April 29 Connecticut Bankers Association, to be invited for luncheon 2/4 145 on February 19 Fiseal and financial writers of Washington, Chairman McCabe authorized to make arrangements for luncheon, recommendation re further luncheons of this 6/8 911 kind to be made after experience galned Independent Bankers Association, represEntative group to be 113 1/23 entertained In, 135 .Executive council to be invited to luncheon on February 251/30 ulana Bankers Association, officers to be entertained at 86 1/16 luncheon on February 5 International Monetary Fund and International Bank, governors and other members 'of delegations to be invited to luncheon during annual meeting in 9/10 1480 Washington Minn esota Bankers Association, to be invited for luncheon on 2/4 145 March 17 Nati°nal invitaBanks, State of Supervisors Association of tion to be extended for April 16, matter 582 4/14 referred to Mr. Clayton Nebra si,a. Bank Bankers Association, invitation to luncheon with 2/26 259 Board during visit in Washington Newj=rev Bankers Association, invitation to be extended for 546 4/7 May 5 Ohio Bankers Association, invitation by Board extended to 3/19 Pents,,, 394 Mr. McBride for April 29 vania State Bankers Association, to be invited for " 2/4 145 luncheon on March 25 Phili PPine Secretary of Finance Cuaderno, memorandum by Mr. Exter, of information in connection with luncheon meeting with, objection of Mr. Vardaman to poor copy, discussion of 7/13 1113 State tankers, procedure to be followed in future association, practice of inviting officers for luncheon at Board, statements by Messrs. Vardaman and Evans re, discussion but no 2/19 236 action taken to change present arrangement °ffioial delegations to be invited to luncheon during 8/6 1235 visits to Washington Subjects for discussion desired by representatives to be ascertained by Mr. Needham, discussed in con1692 10/5 nection with public relations campaign http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 248 Pages Llancheons: (continued) Wisconsin Bankers Association, to be invited for luncheon on 2/4 March 11 rid 12/21 ing) F. meeting J. present at Board , 4114 Increases in registry and insurance fees for domestic and in postage on fourth-class matter, copy of letter from Post Office Department sent to 12/28 FRBanks R Plains Area, improveegistered service to Texas South High ment requested by FFBank of Dallas, letter 5/6 M to Mr. Lawler, Post Office Department ual of Instructions, revision to be made, advice to FRBanks " Maps: 12/13 FROistricts and branch territories, purchase by FRBaliks approved, copies to be furnished to member and nonmember banks 3/31 Margin accounts: New York Stock Exchange, count at end of June, information re5/12 quested in letter to Mr. Schram t_ re quirements, reply to letter from Mr. Joseph L. Smith re 1/2 ruction in, reply to letter from Mr. Stanley K. Platt 1/29 of Boston Stock Exchange on reduction in, reply to Pi 3/16 Mr. Besse RePort-s of to keep necessary liquidation, not by met those for more than two-year period, advice to 3/16 Philadelphia Stock Exchange Red uction in, reply to letter from Mr. B. C. Forbes requesting views of Chairman McCabe on present 75% 6/22 requirements Bal),,,„._ , inv7runer, Russell H., reply to letter re 7/7 bation to Chairman McCabe to attend meeting sponsored by Investors League, Inc., New York City, to 8/2 Ikrtila,, discuss reduction in, declined G., credit terms for floor furnaces and other home 1441tin, 1/27 improvement articles, reply to letter Th°ma-2 F., Regulation lel, reply to letters from Messrs. Timmermann and Rizor re delivery in anticipaMartin_p 10/12 tion of an instalment sale arrY Corporation (successor to Rexair Corporation), registration arrangements under Regulation W corn114so. 11/4 pleted, advice to ERBanks ') 1111 . 11am Clarke, suggestions requested for preparation of Commercial Code by committee of American Law kaull 6/11 reply of Chairman McCabe to Institute, 4-) lvir. I )-LawYer for Marine Midland Corporation, present at meeting to discuss proposed bank holding company 1141r, v j 9/10 legislation President, Morgan Plan Industrial Bankers, Mobile, Ala., Regulation W, reply to letter re Part 4 of 9/27 Supplement re inflated values of used cars http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 145 2165 2235 717 2114 494 760 4 129 371 372 989 1094 1202 124 1752 1852 935 1484 1622 249 Pages **Ilk) Burnet R., letters referred to at hearing before Banking and Currency Committee in connection with nomination of Mr. McCabe to Board, copies 6/11 940 sent to 1"6111°n, Brien, Regulation W, proposed amendments re enforceability of contracts and repair and modernization 1707 10/5 credits, reply to letter re Mead. `, Hugh A., Regulation IT, reply to letter from Mr. Klarner re 1669 proposed amendments re modernization loans 10/1 Nat i and of guest Armour as Young ndustry, tour to be made by Mr. 9/21 1542 Company, expenses to be paid by Board NEtirigs. Bank holding company legislation, report of Mr. Riefler re 6/8 meeting at Treasury Board of Governors, suggestion of Mr. Vardaman to fix Tuesdays and Thursdays, no change to be'made 3/5 at present White Sulphur Springs, to be called to make decision re increase in reserve requirements of member 5/27 banks in central reserve cities Schedule of Tuesday and Friday meetings to be maintained each week unless change approved unanimously by Board, matters of special interest to absent member to be deferred until present 9/29 at meeting if requested BUr'eau of the Budget, to discuss changes in H. R. 2799, no change in Board's position, report by Mr. 7/23 Thurston Chairmen. S Conference, outside of Vashington, Mr. Vardaman opposed to, discussion of future plans but 4/14 no action C°Uncil of noAdvisers, attended by Chairman McCabe, Messrs. Thomas Riefler, and Ralph Young, discussion of budget to be submitted by 12/14 President and legislative proposals Roldin g company groups, at Board to discuss proposed 9/10 legislation, statements re --'61onal Monetary Fund and International Bank annual meeting of Board of Governors to be held 7/23 Washington in September in Annual meeting to be held in Washington, luncheon to be given for governors and other members of 9/10 Thirddelegations annual meetings of Governors, report to be sent to 10/4 Board Illvesto s -ague, Inc., invitation to Chairman McCabe to 8/2 -analattend meeting of Nati 4- Association of Supervisors of State Banks, in 9/21 Louisville, Kentucky, Mr. McCabe to attend A4 To --Lse us- holding company legislation on November 29, Messrs. Rapport, Amundson, Sparling, Bell, Hospelhorn, and Brumbaugh expected to be present 11/9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 915 307 861 1631 1157 577 2115 1483 1163 1480 1672 1202 1559 1877 Mee+• vinge: (continued) Presidents Conference, meeting at a FRBank, suggested by 4/14 Mr. Vardaman Reserve requirements of member banks, proposal of System Research Committee on Banking and Credit Policy for uniform, special meeting to be 5/7 held for discussion White House, Government agencies to be represented to discuss recommendations for President's message to Congress, Mr. Thomas to attend for Board and make statements re consumer credit and 7/23 reserve requirements Winchester, Va., meeting of bankers attended by Chairman 12/7 Meffi McCabe and Mr. Evans eiY, S. F. D., changes in Official Automobile Guide, .sug11/24 Mekb gested by er banks: Conditional payment of checks and delayed return of unpaid items, statement on proposed amendments to 4/13 Regulation J to be sent to ES.r ngS fli for 1947, release of figures and press tatement 2/16 approved -verst-t in FRSystem: '-uneda State Bank, Houston, Texas, application approved, additional powers not to be exercised without permission of Board, permission granted to maintain same reserves as banks not in reserve or central reserve cities, and service of Mr. Keeland as director to be 9/28 brought into conformity with Clayton Act Amer „ Lan State Bank, Lubbock, Texas, application approved, additional powers not to be exercised without approval of Board and adequate insurance 3/23 to be maintained at all times Beachto &ink, Beach, Florida, application 4/20 approved 414t 1/30 requirements, amendment to change to be considered al requirements for admission of State banks, discussion at Presidents Conference of proposed minimum of $50,000, legislation not to be presented to Congress at present session, draft of amendment to be prepared and to 2/27 be sent to FRBanks Pro posed bill to modify sent to FRBanks for comments 4/30 Prop sed, 7/27 legislation on l egislative proposals to be made to Congress, advice ' 11/30 to Bureau of the Budget Di 12/1 Oen+ sellseion at Presidents Conference of need for change n -ual r 2/20 allic, Grand Rapids, Michigan, application approved 'etitra, 4.) approved, State Bank, Calera, Alabama, application number of directors to be increased to not 12/20 less than five http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 250 Pages 577 724 1154 2080 1979 573 191 1624 431 612 135 281 694 1168 2000 2012 248 2157 251 Pages Membership in FRSystem: (continued) Childersburg State Bank, Childersburg, Alabama, application approved subject to certain condition re paid-up and unimpaired capital stock, effective when bank is authorized to commence 9/23 business Citizens Trust Company, Atlanta, Georgia, application approved, subject to condition re paid-up and unimpaired capital, savings accounts to be brought into conformity with law and charter 9/16 to be revived Columbia Bank of Ybor City, Tampa, Florida, application approved, reduced number of directors to be 3/15 called to bank's attention co Granted extension of time to accomplish 4/8 16 approved application Oklahoma, al9/ Bank, Waynokal erci ,rnm kJ() DIPetitive situation with nonmember banks, discussion at Presidents Conference in connection with matter of deferred availability for cash items payable in other FRBank and branch 10/5 cities 4)rldAtionEs; Brecksville Bank, Brecksville, Ohio, cancellation of 9/20 condition numbered 17 approved Cancellation for State member banks as recommended by FRBanks in connection with amendment of 8/5 Regulation H approved Commerce Union Bank, Nashville, Tenn., reply to letter re capital position, condition of membership numbered 9 not to be cancelled until reduc10/5 tion of stock of Broadway National Bank First Trust and Savings Bank of Pasadena, Calif., cancellation of certain conditions in connection with amendment of Regulation H approved 8/5 PecPles Bank of Lakewood Village v Eccles, et al., suit regarding condition of membership, statement 3/18 to be published in FRBulletin Peoples Bank of Lakewood Village, California, cancellation of certain conditions in connection with amend8/5 ment of Regulation H approved Revision Board, by favored memo to bring about uniformity, topic to be placed on agenda of Presidents ' 4/23 Conference ReguConference, Program agreed upon at Presidents lation H to be revised, and review to be made of conditions applicable to present 5/21 State member banks and effective Elimination of certain conditions revision program to be continued, FRBanks 6/11 requested to send recommendations http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1604 1514 366 561 1515 1677 1537 1231 1704 1231 385 1231 631 818 942 Melte rship in FRSystem: (continued) Conditions: (continued) Riverview State Bank, Kansas City, Kansas, proposed purchase of stock of trust company, inquiry re applicability of condition 7, purchase prohibited by Federal statutes 5/4 Continental State Bank, Boise, Idaho, application to be considered favorably, New Plymouth State Bank, New Plymouth, Idaho, to be absorbed and branch to be established at New Plymouth, and common 3/8 capital to be increased 7/6 Application approved , Granted extension of time to complete 7/16 !!illquesne City Bank, Duquesne, Pa., application approved 10/18 r-41Pire State Bank of Dallas, Texas, application apprcived, subject to condition re paid up and unimpaired capital stock, fiduciary powers not to be exercised without permission of Board 1/5 Granted extension of time to accomplish 3/11 Granted extension of time to accomplish 6/16 APplication approved, standard condition 3 cancelled 7/29 _ranted extension of time to accomplish 8/23 F certification to FDIC as member 9/22 armers and Merchants Bank, Forest, Miss., application approved, trust powers not to be exercised Firstwithout permission of Board 4/21 State Bank, Abilene, Texas, application approved, capital stock to be increased 11/3 —4-Lan Statehood bill, H. R. 49, to admit Territory of Hawaii as State, amendment to require national banks in any Territory to become members of FRSystem upon admission as 1/27 State, draft sent to Senator Butler Pr°vision to require national banks to become members of FRSystem, amendment requested by Mr. Dewey, Chase National Bank, to help Bishop National Bank, Mr. Clayton to advise Mr. Dewey that amendment not considered neces3/19 sary Di8cussi0n of currency problem of Bishop National Bank by Mr. Clayton with Mr. Dewey of Chase National Bank of New York, no objection to consideration of establishment of currency depot in Honolulu if needed 3/23 Hearing to be held before Committee on Interior and Insular Affairs re, Mr. Eccles or Mr. Clayton to 4/7 represent Board Letter from Mr. Waterhouse, President of Bishop National Bank of Honolulu, and memorandum sent to FRBank of San Francisco 4/7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 252 Pages 701 331 1087 1127 1776 9 352 959 1178 1353 1592 616 1844 121 389 428 552 557 253 Pages 1%1thership in FRSystem: (continued) Hawaiian Statehood bill: (continued) Mr. Clayton to appear before Senate Committee on Interior and Insular Affairs and to ascertain if Chairman of Senate Banking and Currency Committee would be willing to send 4/14 letter to Committee re Letter to Bishop National Bank, Honolulu, asking for fur4/22 ther consideration of amendment iland Empire Bank, Umatilla, Oregon, application approved, to be entitled to benefits of deposit insurance under provisions of Section 12B of FR.Act3/8 Jackson State Bank, Jackson, Wyoming, application approved, subject to charge off of estimated losses, credit policy to be more conservative and 3/17 periodic examinations re to be made Lkke County Bank, St. Ignatius, Montana, application approved 3/9 Libe,* Trust Company, Cumberland, Maryland, application approved, subject to increase in capital stock and merger with Peoples Bank of Cumberland, Maryland, retention of branch at Lonaconing, 12/24 Md., approved Marketable issues of Government bonds, public announcement re obtaining par plus accrued interest at member banks suggested as means of making more attractive, matter to be considered by 11/5 FOMC Metam °ra State Bank, Metamora, Ohio, application approved, savings account to be brought into conformity 7/21 with regulations McInr°e County Bank, Sparta, lasconsin, application approved, branch at Melvina, Wisconsin, to be discon8/20 tinued N°Ilmember commercial banks eligible on basis of statutory capital requirements, FRBanks requested to 5/4 send in compilation Baro, eligible and ineligible, copies of tables showing 5/19 number sent to FRBanks N°rthe rn Neck State Bank, Incorporated, Warsaw, Va., application approved, additional powers not to be . 7/12 exercised without permission of Board n ParriPlic Bank and Trust Company, Pamplico, South Carolina, application approved, requirements re savings deposit withdrawals to be brought into conformity with law and bank's attention to 3/17 be brought to number of directors I3e°Ples ,,ank of Charles Town, West Virginia, application approved, savings account to be brought into conformity with regulations and capital to 5/17 be increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 582 621 330 378 342 2199 1860 1142 1350 701 805 1105 377 788 254 Pages lienlbership in FRSystem: (continued) Peoples State Bank, Artesia, New Mexico, application approved, subject to condition re paid-up 5/19 and unimpaired capital stock 7/29 APplication approved, standard condition 3 cancelled Legulation H, amendment approved to eliminate standard con' 8/3 dition three and three trust conditions 8/26 Amendment to, statement to be published in FRBulletin Reserve requirements, effect of increase on, to be on agenda for Presidents Conference, advice to Mr. 9/16 Davis Effect of increase on, discussion at Presidents Confer10/5 ence Effects on member banks of increases in, discussion at 12/1 Presidents Conference Security State Bank of Basin, Wyoming, application approved 8/13 Security State Bank, Poison, Montana, application approved, subject to charge off of losses, fidelity coverage to be increased and Articles of Incorporation to be amended to provide for 3/10 five directors , Granted extension of time to accomplish membership 3/26 "ta.I. valley approved, State Bank, Afton, Wyoming, application operations to be supervised more closely, questions as to validity of increases in 3/19 capital to be eliminated bank's Stal,vi —"cn Industrial Loan Corporation, Staunton, Va., question of eligibility for, views of FDIC 6/24 requested ulai _PPlication not to be considered favorably 9/1 -vu State Bank, Carrizo Springs, Texas, application to be reconsidered upon basis of further information, investigation of current status of 1/5 bank to be made be to not exerpowers APPlication approved, fiduciary 3/12 cised without permission of Board 4dcllngton Bank, Waddington, New York, application approved, savings accounts to be brought into confirmity 7/21 with regulations -4)1,411da 8/20 irust Company, Windsor, Conn., application approved 1 copies for Board members, discussion of means for making legible copies, suggestion of Mr. Varda7 7/13 4.eari man to be discussed further °Xc-..nge by report currency, of stabiliation rate and t,,•cieati G 8/10 Mr. Dembitz to be given at Board meeting p,e,o vernment: ve requirements and interest rates, failure to meet problems by policy of high, discussion at FAC 4/27 meeting http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 801 1178 1214 1391 1524 1693 2026 1283 346 457 392 1021 1417 10 361 1141 1349 1114 1252 674 Michigan: Condition reports of State member banks, question of joint publication, no objection to acceptance of current reports re reserves for had debts, future reports to be prepared in accordance 7/9 with Board's instructions No objection to joint publication, but addition to be 11/19 made to State form if used MilitarY service: Honor Roll, memorial plaque with names of employees serving in World War II approved to replace temporaw11/22 policy re employees entering, benefits and treatment approved, payment of one month's unearned salary to be made at time deemed best by FRBank, discus10/5 sion at Presidents Conference Pre sident's message to Congress re, questions raised by Mr. Sproul as to effect on fiscal policies of 3/19 Government and FRSystem Selective Service Act of 1948, policy re employees entering service under, draft of policy statement 7/30 sent to FRBanks for comments Pc'lic5r re employees entering service under approved, 8/16 advice to FRBanks Folic10/25 y re Board employees approving P°11qY re employees entering service under with additional salary benefits approved, advice to 10/25 FRBanks Tate, Henri, laborer, granted leave of absence without pay to enter under Selective Service Act of 12/15 1948 Xiller) Andrew, Vashington Bankers Association, reply to letter concerning proposed amendments to Regulation 9/10 . Miller,, 4)• Clayton, report on international activities of Board prepared for use in Foreign Affairs Project of Commission on Organization of Executive 7/20 Branch of Government 0 Frederick C., report on statistical activities of Board, sent to for use in connection with work of Commission on Organization of Executive 6/28 Branch of Government 4 Bunkers Association, to be invited for luncheon on 2/4 iNtes. March 17 Poteerpt s covering conference with Comptroller of the Currency re Transamerica Corporation, copies 8/24 be sent to absent Board members to lioh-ilqi„ of 12/3 illed by Transamerica Corporation for inspection .'4"Orley. S• Mike, request for statement of Board re proposed legislation re consumer credit controls and reserve requirements, opposition to authority to increase reserve requirements to be 8/5 stated http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 255 Pages 1102 1947 1958 1686 390 1184 1287 1810 1810 2129 1492 1137 1058 145 1371 2042 1228 256 Pages MOoritr S Investors Service, Board to absorb one-half of cost of computing figures on Group 2 corporate securities published by Moody's,Fitch, National Quotation Bureau, and Standard & Poor's, advice to be made to Arrangement re publication of eighteen months' average prices approved, advice to Mr. Gildea Mc/rgarl Plan Industrial Bankers, Mobile, Ala., Regulation W, reply to letter from President May re Part 4 of Supplement re inflated values of used cars Mor ris Plan banks: Bank holding company legislation, representatives not to attend meeting to discuss, but to express views later 14°1‘118°4, James H., Regulation W, reply to letter re discriminatory requirements on furniture and electrical appliances 14()/tg, gs companies: Union Bond & Mortgage Company, Port Angeles, Wash., real estate contract not classified as readily marketable asset Rortoa ge loans, proposal of Housing and Home Finance Agency to increase, not favored by Board kor+, -Gages: SeconA "arY mortgage market, bill to create, Bureau of Budget to be advised that Board is opposed to Sem. • icing by Ebenezer State Bank, Ebenezer, N. Y., trust conditions need not be prescribed for 140ti0 4 pi ctures: 4- of Cleveland, to be requested to defer the making of " a moving picture Further information requested re amount in budget for proposed movie "4- of Minneapolis, expenditure for revision at this time questioned Budget amount for replacement of movie "Back of Banks and Business", comments re deferment of 40111, project requested Milton N., undermargined accounts, reply to inquiry re regulations to restrict substitution of tray. securities in, and withdrawals from Professor William, Iowa State College, Ames, Iowa, to be invited to Washington for discussion of conference of Mid-west agricultural economists to promote discussion of inflation problem, expenses of trip to be paid by Board joseph G., request for designation of member of staff on Committee on Secured Consumer Credit, American Bar Association, to be declined http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10/19 1785 11/3 1849 9/27 1622 7/6 1086 10/25 1815 4/20 615 8/20 1346 2/13 175 5/5 704 12/6 2052 12/27 2209 12/6 2051 12/27 2211 3/2 295 4/7 546 8/10 1259 Nat onal Advisory Council: Activities, report by Mr. Knapp including discussion of British loan agreement, aid to China, operations of International Monetary Fund and International Bank, and attitude of NAC toward continuation of Bank for Inter3/19 national Settlements Foreign accounts, liquidation proposed by, no alternative proposal received by Secretary Snyder from 3/19 banks Foreign deposits in United States, proposal submitted in statement to Senator Vandenberg, FAC opposed 2/17 to, discussion at meeting with Board Report on activities to be made semi-monthly by Division of 3/5 RepoResearch and Statistics r 7/15 on Dembitz Mr. by developments t he ports on developments, periodic oral reports by members of International Section to be made in addi7/15 to written reports tion Nati onal Archives: Records transferred to, data reouested re, reply that Board has 9/9 no records to transfer 4tio?1.1 .4- Association of State Small Loan Supervisors: 7 D. lOfl W, cooperation re enforcement requested in letter 9/29 to Mr. Kirmmse Nationa, -L Association of Supervisors of State Bank, to be invited to luncheon April 16, matter referred to 4/14 Mr. Clayton C°Ilversion of national banks into or consolidation with State banks, legislation re, views of Board to be discussed with Mr. Rapport before 12/23 sendingletter to ABA Meeting to discuss holding company legislation to be on November 29, Messrs. Rapport, Amundson, Sparling, Bell, Hospelhorn, and Brumbaugh expected to 11/9 be present Reglaation W, enforcement, cooperation re-luested in letter to 9/16 Mr. Rapport Reserv_ ' requirements for nonmember banks, authority of Board to increase, draft of bill re, copies to be transmitted to Mr. Hospelhorn by Mr. 44tio114, 8/4 Clayton Azer,Banks: caz National Bank of Oak Cliff, Dallas, Texas, granted ' permission to maintain same reserves as banks outside central reserve and reserve 6/24 cities determined LI National Bank of San Bernardino, Calif., to be holding company affiliate only for purposes of section 23A of FRAct and permit not necessary to vote stock of American National 1/8 Bank of Big Bear Lake, Calif. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 257 Pages 387 383 193 328 1119 1119 1475 1641 582 2193 1877 1521 1223 1020 28 258 Pages National banks: (continued) American National Bank and Trust Company of Chattanooga, Tenn., application for fiduciary powers approved upon conversion from American Trust and Banking Company, Chattanooga, 8/27 Tenn. AsburY Park National 3ank and Trust Company, Asbury Park, N. J., hegulation U, inquiry re curtail and 11/17 renewal under section 5(a) Bank of America N. T. & S. A., request of Senator Tobey for copies of correspondence and other relevant material affecting interests of, in connection with testimony on nomination of Mr. McCabe, Mr. Townsend and someone else from Legal Division to talk with Ar. L'Heureux before preparation of letter 3/24 Granted extension of time to establish branch in 6/15 Shanghai, China Establishment of branch at Kobe, Japan, approved 6/17 7 of branch at Yokohama, Japan, approved ,stablishment of branches at Bremen, Frankfort-am-Main, and Hamburg, Germany, discussion of authorization in view of financial condition of bank and case against Transamerica Corporation, Mr. Szymczak to obtain additional information re need for branches and matter 8/6 to be considered again Authorization of Comptroller of the Currency for establishment of de novo branches, objection of Mr. Odlin, Mr. Clayton to prepare letter to Comptroller stating views of Board in view of complaint against Transamerica Corporation 8/17 APPlication for establishment of branch at Del Monte, Calif., Board opposed to, Mr. Upham to be 8/19 advised Establishment of additional branches, statement in Washington Times-Herald re authorization by Treasury, discussion of matter with Mr. Delano in absence of Mr. Snyder, no repay to be made in press, letter to be prepared 8/19 for Comptroller APPlication to establish branches in Germany, action to be deferred pending outcome of hearing in proceeding against Transamerica Corporation 8/20 Est of de novo and foreign branches, letters from Comptroller of the Currency in reply 8/31 to Board's letters re APplication to establish branches in Germany, informal conference of Messrs. Clayton and Townsend with Comptroller and FDIC, drafts of letters to Messrs. Delano and Hanl to be prepared recluesting comments re authorization in light of cap8/31 ital position and policies of bank http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1394 1935 433 952 9t stablihmen 1236 1320 1332 1325 1346 1432 1408 Nati°nal banks: (cont4 nued) Bank of America N. T. & S. A.: (continued) Pertinent comments re position of bank requested from Comptroller of the Currency and FDIC 9/3 Examination of correspondence between FRBank of San Francisco and Bank of Italy in 1917-1921 re establishment of branches, no objection 9/29 to Application for establishment of branch at Bangkok, Siam, discussion with Mr. Pierotti and 10/19 Mr. Scott Expansion, discussion by Mr. L. M. Giannini with 11/15 Chairman McCabe of reasons for Applications to establish branches in Germany, discussion of letters to Comptroller of .the Currency and FDIC, no response from FDIC as 11/16 yet APplication to establish branch at Bangkok, Siam, discussion, information to be requested from Comptroller of the Currency, FDIC, and FRBank of San Francisco, conference with Mr. Delano to be arranged to ascertain extent of assistance in Transamerica case 11/16 Additional information re bank requested from FRBank of San Francisco, Comptroller of the Cur11/30 rency, and FDIC before decision Granted extension of time to establish branch at 12/16 Shanghai, China Application to establish branches in Germany, no action to be taken until receipt of replies from FDIC, Comptroller, and FRBank of San Fran12/31 cisco re branch in Siam Application to establish branch at Bangkok, Siam, letter from FRBank of San Francisco received, memorandum of Division of Research and Statistics to be circulated, arrangements for meeting with Messrs. Delano and Harl to be made by 12/31 Mr. Clayton to discuss nett National Bank of Jacksonville, Florida, Regulation W, applicability to loans to pay fire and 10/13 casualty insurance premiums Bishop National Bank of Honolulu, letter and memorandum from Mr. Waterhouse re H. R. 49 sent to FRBank of San Francisco 4/7 Hawaii Statehood Bill, amendment to recuire national banks to become members of FRSy stem, letter to Mr. Vaterhouse asking for further 4/22 consideration of 13°atraerov National Bank of St. Louis, Mo., Regulation V, inquiry re applicability to sink incorporat11/22 ing dishwasher http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 259 Pages 1438 1632 1779 1901 1922 1923 1997 2139 2246 2246 1756 557 621 1955 260 Pages National banks: (continued) Broadway National Bank, Nashville, Tenn., stock held by Commerce Union Bank, condition of member10/5 ship on disposition of Central Islip National Bank, Central Islip, New York, Regulation WI amendment suggested to exempt loans secured by borrower's own interest or savings department accounts, 10/25 not considered justified Chase National Bank, New York, V. Y., order authorizing establishment of branch in Heidelberg, 3/2 Germany, approved Request for amendment to Hawaiian Statehood bill to help Bishop National Bank, Mr. Clayton to advise Mr. Dewey that amendment. not 3/19 considered necessary Request for amendment to Hawaiian Statehood bill to help Bishop National Bank, discussion of matter by Mr. Clayton with Mr. Dewey, no objection to consideration of establishment of currency depot in Honolulu if needed 3/23 Granted extension of time to establish branch at Berlin, 4/20 Germany Question of operation of private wire service involving payment of interest on deposits, matter 7/1 referred to FRBank of New York Philippine Republic, securities held as collateral by FRBank of New York for deposits of, arrangement proposed by FRBank of New York approved 7/23 04, Establishment of branch at Osaka, Japan, authorized 12/9 4- V National Bank of Centralia, Illinois, application for 6/30 fiduciary powers approved City National Bank of Philadelphia, Penna., proposed fund being considered by Pennsylvania Bankers Association, not classed as common trust fund under Regulation F, Mr. Reeve to be 11/29 advised COMm--mrcial National Bank of Hillsboro, Oregon, application 7/2 for fiduciary powers approved Condi 1/2 tion reports, call as of December 31, 1947 Call as of April 120 1948 a l 21111 as of June 30 J-nformation for current needs requested re Schedule B, U. S. Government obligations, advice 7/26 to FRBanks Fall 9/ 9 call not to be made co 'dall as of December 31 12/31 nmental Illinois National Bank and Trust Compapy,Chicago, III., computation periods for central reserve and reserve city banks, proposed changes discussed with Ar. F. M. Knight, 10/12 Vice President of http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1704 1813 291 389 428 613 1070 1161 2095 1064 1988 1078 1 1076E 3 ) 1165 1471 2265 1740 261 Pages National banks: (continued) Conversion into or consolidation with State banks, legislation to permit, letter to ABA re form of 3/18 bill Amendment proposed to S. 6570, opposed by Comptroller of the Currency and FDIC, Board not to 6/11 submit report S. 2842, to authorize conversion into and consolidation with State banks, no objection to enactment, 6/14 advice to Chairman Tobey Question of bill to be submitted to FRBanks, discussion 12/1 at Presidents Conference H. R. 6570 and S. 2842 to authorize, change in situation re, draft of letter to Mr. Needham to be 12/3 prepared for submission to FRBanks Legislation to authorize, Board opposed to, draft of letter to ABA sent to FRBanks for comments 12/14 Proposed legislation opposed by Board, letter to ABA approved, procedure for advising Comptroller of the Currency and FDIC to be deter12/21 mined by Mr. Clayton Legislation re, views of Board discussed by Mr. Clayton with FDIC Chairman Han, matter to be discussed with Mr. Rapport before sending 12/23 letter to ABA Cos mopolitan National Bank of Chicago, Illinois, application 3/15 for fiduciary powers approved Cchange National Bank of Chicago, Ill., application for 12/15 fiduciary powers approved Fiducia_ 1.), powers, applications, policy of waiting one year for approval after organization of new national bank waived in case of Piedmont National Bank of Spartanburg, S. C. 3/8 l'ir ' at a.nd American National Bank of Duluth, Minn., request for names of banks which have recently closed or opened trust departments, no objection to sending information to Mr. 4/15 Seftenberg, advice to FRBank of Chicago Firet National Bank of Boston, Mass., granted extension of time to establish branches at Sao Paulo 4/20 and Santos, United States of Brazil application for National Bank of Clayton, Missouri, 10/15 fiduciary powers disapproved Pirst National Bank in Gadsden, Alabama, application for 3/29 fiduciary powers approved Pirst National Bank, Lake Providence, Louisiana, penalty 12/27 for deficiency in reserves waived Ilrat National application for Bank of Leesburg, Florida, 5/7 fiduciary powers approved Pirst National Bank at Lubbock, Texas, application for 7/27 fiduciary powers approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 384 934 950 2015 2034. 2124 2164 2193 368 2130 331 588 613 1771 476 2205 738 1171 262 Pages tonal banks: (continued) First National Bank, Madison, Wisconsin, absorption of exchange charges, reply to Mr. Lovell re letter from Wisconsin Life Insurance Com10/29 pany concerning practice of First National Bank of Port Jefferson, N. Y., absorption of Bank of Port Jefferson and establishment 4/30 of branch in Port Jefferson Station First National Bank of Port Neches, Texas, penalty for 10/1 deficiency in reserves waived First National Bank in Richmond, California, loan to Minton Construction Company guaranteed by War Department under Regulation V, Board not to intercede in case, advice to FRBank of 6/18 San Francisco First National Bank of Tully, New York, establishment of branch in Tully by Syracuse Trust Company, Syracuse, New York, approved in connection 5/21 with proposed absorption of First National Bank of Waco, Texas, application for addi7/9 tional fiduciary powers approved Guilford National Bank of Greensboro, North Carolina, appli5/10 cation for fiduciary powers approved Gulf application Louisiana, National Bank at Lake Charles, for fiduciary powers approved upon conversion of Lake Charles Bank and Trust Company 12/22 into Hamilton National Bank of Chattanooga, Tenn., applicability of Regulaticn F to sale of stock of estate to beneficiaries by banks as co-executors, 9/8 decision to be made by court of applicability Tenn., of Knoxville, Bank National Regulation F to sale of stock of estate to beneficiaries by banks as co-executors, de9/8 cision to be made by court National Bank and Trust Company, Hartford, Conn., proposal to set up partnership to act as nominee for registration of securities in trust accounts, not in violation of Regula1/9 tion F -I Statehood bill, provision to require membership in FRSystem, amendment requested by Mr. Dewey, Chase National Bank, to help Bishop National Bank, Mr. Clayton to advise Mr. Dewey that 3/19 amendment not considered necessary Discussion of currency problem of Bishop National Bank by Mr. Clayton with Mr. Dewey of Chase National Bank of New York, no objection to consideration of establishment of currency depot in 3/23 Honolulu if needed dale National Bank, Hillsdale, New Jersey, application 9/23 for fiduciary powers denied http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1835 693 1668 974 827 1101 748 2181 1468 1468 50 389 428 1606 263 Pages 4tional banks: (continued) Lincoln National Bank and Trust Company, Syracuse, New York, Mr. Blanding determined to be executive officer under Fegulation 0 10/11 Merchants National Bank, Chicago, Illinois, penalty for de11/23 ficiency in reserves waived National Bank of Commerce of Pine Bluff, Arkansas, applica7/28 tion for fiduciary powers approved National Bank of Germantown and Trust Company, Philadelphia, Pa., granted permission to maintain same reserves as banks outsiae central reserve 5/6 and reserve cities National granted Pa., perBank of Olney at Philadelphia, mission to maintain same reserves as banks outside central reserve and reservg cities 5/6 National Bank of Tulsa, Oklahoma, payment to Treasury as interest on FRnotes, reply to inquiry from 12/16 Mr. Broach re National in branch of establishment Bank of Watervliet, Watervliet, New York, by State Bank of Albany, New York, approved in connection with absorption of, and additional invest3/16 ment in bank premises also approved time of ilati°nal City Bank of New York, granted extension for establishment of branch at Manila, 4/16 Republic of Philippines Mr. Burgess mentioned as possible selection for foreign 5/10 mission to Japan Granted extension of time to establish branch at Porto Alegre, Brazil 7/9 Establishment of branches in Kobe and Yokohama, Japan, 8/16 approved Nati°nal limited granted Mass., Shawmut Bank of Boston, permit to vote stock of Somerville National 1/9 Bank, Somerville, Mass. Nc)rth Broad National Bank of Philadelphia, Pa., granted permission to maintain same reserves as banks Northoutside central reserve and reserve cities 5/6 western National Bank in Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve and reserve 5/6 cities 1)11c N t-ional Bank of Kansas City, Mo., reply to letter from Mr. H. P. Davis re amendments to 9/10 Regulation W -u*nt National Bank of Spartanburg, South Carolina, application for fiduciary powers approved, policy of waiting one year after organiza3/8 of new national bank waived tion Pont LI° National Bank, Pontiac, Illinois, application for 8/27 fiduciary powers approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1735 1970 1175 710 710 2140 371 596 746 1101 1288 53 710 710 1492 331 1395 264 Pages Natdonal banks: (continued) Puget Sound National Bank of Tacoma, Wash., application for establishment of branch denied by Comptroller of Currency, objection of Mr. Odlin in view of authority granted to Transamerica Corporation for additional branches, state8/17 ment of Mr. Eccles re Republic National Bank of Dallas, Texas, granted limited permit to vote stock of three national 1/9 banks Second National Bank of Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve and reserve cities 5/6 Se • eurlty National Bank, Greensboro, N. C., Jefferson Standard Life Insurance Company determined not to be holding company affiliate, advice to 1/12 Mr. Calhoun South Philadelphia National Bank of Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve and 5/6 reserve cities State National Bank of Texarkana, Ark., determined not to be holding company affiliate except for pur12/7 poses of section 23A of FRAct i°sa National Bank and Trust Company of Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve 5/6 reserve cities and Union m National Bank of Schenectady, New York, surrender of 12/14 fiduciary powers approved eli National Bank, 1Jendell, Idaho, reouest for permission to act as trustee in connection with issue of debenture bonds by Gates Brothers, Inc., Wendell, Idaho, not approved because 8/16 of insufficient capital Restricted fiduciary authority to be granted upon advice of increase in capital stock and receipt of 9/1 formal application whi4.A_PPlication for specific fiduciary power approved 11/30 eY National Bank, New Orleans, La., letter from Mr. Berry re applicability of Regulation Q to absorption by member banks of costs of shipping currency and to private wire system of Bankers Trust Company of New 9/1 York 1411ton holding bank National Bank, Wilton, New Hampshire, companies, statistical information requested by Mr. Hickok, Cashier, for thesis, 3/25 reply to letter sent to Senator Tobey 111 / 414°1141 Electrical Wholesalers Association, New York City, Regulation W, reply to letter from Mr. Ingram re sale of refrigerators to owners of apartment houses 11/1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1319 53 710 56 710 2086 710 2121 1289 1420 1998 1421 448 1838 Nat ional Farm Institute, Mr. Riefler authorized to accept 12/7 invitation to take part in panel before °nal Finance Company, San Antonio, Texas, Regulation W, exemption of loans of less than $501 11/2 reply to suggestion of Mr. Crane Nati °nal Monetary Commission, draft of bill creating, Mr. Vest 10/8 to assist Mr. L'Heureux in preparing Economic basis of Federal Reserve policy, possible inquiry for material re, committees appointed for 10/12 preparation of statement PO ssible discussion to be at meeting of FAC, views of Board 11/15 to be presented by Chairman McCabe htiona 1 Securities Resources Board: Defense, national, plans re attack or invasion under con9/10 sideration by C() n°mic Stabilization Program for a ar Emergency, memo of Mr. Griffith Johnson on suggestions for, comments of Board on sections re monetary 8/31 before consideration by matters Eme rgency legislation to be drafted by, informal statement to be made to Mr. Kendall that Board would be interested to include guarantee of war con4/14 tract loans and consumer credit controls Intera Programs, on Plans and Committee epartmental Advisory Mr. Thomas to serve as member, advice to 5/25 Mr. Arthur M. Hill, Chairman Matters connected with, added to Mr. Eccles' assignments, 10/8 with Mr. Szymczak as alternate Mobil zation planning, Mr. Garfield designated representative to assist in formulation and review of assumptions in domestic and foreign economic fields for use in, with Mr. 11/10 Williams as alternate, advice to Nati °nal Resources and Foreign Aid, revised study on, Mr. Garfield designated as Board representa10/26 tive on committee working on Program and consumer credit, drafts of legislation to be submitted to, and Counsel to collaborate with, in working out desirable changes 5/10 144rtime economic stabilization, studies re, Board to cooperate in work, interim statement to be sub10/1 mitted to Stlad4 --es re, special preliminary report approved, more 1.01181. comprehensive report to be submitted later 10/12 °YrilPhony Sustaining Fund Campaign, reply to Mr. Reyner re request for solicitation of employees 413 1/27 for donations r4skEI B_ 'flkers Association, invitation to luncheon with Board 2/26 during visit in Washington -4") R., . ) Regulation W, inquiry re joint purchases of automobiles, transaction subject to, FRBank of 10/22 San Francisco to reply to http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 265 Pages 2078 1842 1723 1741 1899 1479 1412 580 848 1725 1889 1816 751 1670 1738 124 259 1807 Ihrtfjersey Bankers Association: Luncheon with Board, invitation to be extended for May 5 4/7 New York State: Pc)reign banks, discrimination against, extent of, information re legislation sent to Secretary of State for forwarding to American Embassy 3/11 at New Delhi, India New 4ork Stock Exchange: 144rg1n accounts, count at end of June, information requested in letter to Mr. Emil Schram 5/12 tnleraber banks: Bank of Clinton, Miss., establishment of branch in Clinton by Deposit Guaranty Bank & Trust Company, Jackson, Miss., approved in connection with proposed absorption of 9/1 Eictrik of Donelson, Tenn., proposed absorption by Commerce Union Bank, Nashville, Tenn., establishment of branch in Donelson, Tenn., approved in 5/6 connection with Bergen Trust Company, Jersey City, N. J., violations of Regulation U, FDIC examiners to check carefully 11/16 in future examinations for compliance Central Trust Company, Charleston, West Virginia, merger by Kanawaha Valley Bank) Charleston, V. Va., no objection to continuation of trust powers 11/15 in connection with e°111mercial banks eligible and ineligible for membership in FRSystem, copies of tables showing number 5/19 sent to FRBanks C°Mnetitive situation with member banks, discussion at Presidents Conference in connection with deferred 10/5 availability for cash items Corni4g Trust Company, Corning, New York, establishment of two branches in Corning by Lincoln Rochester Trust Company, Rochester, New York, approved 1/9 n connection with absorption neizer State Bank, i Heizer, Kansas, no objection to absorption 3/5 ltdus by American State Bank, Great Bend, Kansas trial Bank of Commerce of New York, Regulation W, reply to letter re possible violations and mislead.12/28 ing advertising shin in FRSystem, number of commercial banks eligible on basis of statutory capital requirements, 5/4 FRBanks requested to send in compilation Nev. Ym 'outh State Bank, New Plymouth, Idaho, absorption and establishment of branch at New Plymouth by Continental State Bank, Boise, Idaho, to take place after approval of application for mem3/8 bership in FRSystem sorption by Continental State Bank, Boise, Idaho 7/6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 266 Pages 546 357 760 1420 711 1927 1903 805 1677 51 323 2228 701 331 1088 267 Pages ..uember banks: (continued) Northern Trust Company, Philadelphia, Penna., purchase of assets and assumption of commercial department liabilities by Provident Trust Company 7/2 of Philadelphia Paterson Savings and Trust Company, Paterson, N. J., determined not to be holding company affiliate except for purposes of section 23A of FRAct 2/19 Peoples Bank of Cumberland, Maryland, proposed merger with 12/24 Liberty Trust Company to be effected P°1k County Bank, Bolivar, Missouri, solicitation of St. Louis business by banks offering to ship currency and coin with postage and express charges prepaid, reply to letter re practice 3/16 Reserve legislation proposed, revision of statement pf Chairman McCabe before Banking and Currency Com8/2 mittees to include It"srve requirements, legislation to include in proposal for increased authority, Mr. Vest to assist Mr. 8/2 McKenna in drafting Draft of bill to be revised to give Board authority to increase requirements for member and nonmember banks with same flexibility now applicable to member banks, Mr. Vest to submit copy 8/3 to Mr. McKenna Authority of Board to increase, draft of bill to be revised, Mr. Vest to deliver copy to Mr. McKenna, Mr. Clayton to transmit copies of Mr. Hospelhorn, and copies to be sent to counsel for 8/4 FRBanks for suggestions unio_Reasons _ 10/5 for subjecting to those of FRSystem " •tate Bank, Carrizo Springs, Texas, application for membership to be reconsidered upon basis of further information, investigation of curNo 1/5 rent status of bank to be made kota Par Clearance Committee, reply to letter on par clearance and payment of interest on demand 11Y1)01, 12/2 deposits Victor H., Regulation Y, sponsorship of voluntary standards of advertising by Association of Better Business Bureaus, Inc., reply to letter from 9/15 /lePINY to advice of action re voluntary standards of adver10/5 tising 4) Reno , ' ) Dank holding company legislation, discussion of 6/8 matter suggested by Chairman McCabe ualai 'bument of branches, objection to granting of authority to Transamerica Corporation for additional branches in view of denial of application of Puget Sound National Bank of 8/17 Tacoma http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1077 241 2199 373 1188 1200 1216 1221 1688 10 2029 1511 1707 919 1319 Offi ce of Attorney General: Transamerica Corporation, conference to discuss proceeding 9/10 against, to include representatives from Of fiLl) of Contract Settlement: 8Pace in Board's building, Appeal Board to be asked to vacate, in connection with request of Commission on Organization of Executive Branch of Govern3/30 ment, matter referred to Mr. Draper Request for building space to be vacated by Appeal Board as needed for Commission on Organization of Executive Branch of Government, letter to 4/2 Mr. Spingarn Ohio: Audit by FDIC of certified statements submitted for assessment purposes by insured banks, experimental 4/15 No, program to be extended to ,oankers Association: l'uncheon with Board, invitation extended to Mr. McBride for 3/19 April 29, 1948 040nState Uni University: 'Qmallittee on consumer credit statistics, reply to letter from Mr. Beckman re formation and suggested meeting with Board representatives, Mr. Bonnar 7/6 Brown to work with opera,. Letter to Mr. Beckman on meeting with Board 7/30 ratios of member banks, work sheets (form FR 456) sent Oro11/4 to FRBanks for 1948 data &Lard c ' • R., Federal Security Agency, Regulation W, cooperaOro9/17 tion re enforcement requested by Board LLard j reinstatere letter ' amee P., V-loan procedure, reply to 7/27 ment of Ch*se National Bank, New York, N. Y., to establish branch in 3/2 Heidelberg, Germany Pede]m]. Trade Commission, cease and desist order against use of basing point pricing system in cement industry, study re effects on South of Supreme Courts decision sustaining, matter to be discussed at Presidents Conference and to be considered by Committee on Cur9/29 rent Business Developments Trallsamerica Corporation, request for additional details re . complaint issued against, Board's response 9/21 denial approved of 0 rder granting request for public hearing approved but 10/1 not for change in place • DeMal of motion for oral argument and determinatinn of motions not filed and motion for produc12/6 tion of material in Board's files °rder that oral argument be held on December 11, 1948, 12/6 in Washington http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 268 Pages 1480 483 531 588 394 1090 1186 1852 1526 1172 292 1628 1550 1655 2056 2059 Orders: (continued) Transamerica Corporation: (continued) To hold oral argument on motions on December 11, 1948, 12/7 approved date for oral arguchanging Proceeding against, order ment from December 11 to December 13, 1948, 12/8 approved Order to include motion to disqualify Mr. Clayton in 12/10 list for oral argument, approved Outsi de business affiliations and teaching activities; Boardis staff, policy of Board re, memorandum to employees 3/24 Requests for permission to accept part-time teaching assignments, discussion, no change to be made in policy 9/7 PRBa 3/24 ,., nk employees, policy of Board re, advice to FRB4nks OVerti 6/17 e Payments, monthly reports to be discontinued ' rank, Jr., Bureau of the Budget, request for meeting to discuss amendment to H. R. 2799 to authorize Treasury purchases of Federal Home Loan Bank and Federal Saving and Loan Insurance Corporation obligations, Messrs. Vest and Thomas authorized to select representatives 7/20 if meeting held 41. list: Nonmember banks eligible for membership, number on list and 5/4 not on list requested Plialting of July 1948 issue authorized, FRBanks requested to 6/17 send revised form showing changes 1948 issue, proof copy sent to FRBanks for checking, instructions for submitting additional information 7/20 S: 269 Pages 2083 2092 2106 441 1 444 438 961 1132 701 965 1138 Q111, Mrs. Katie, cafeteria helper, special payment in con1/30 nection with termination of services 448Ylvania. AUdit by• FDIC of certified statements submitted for assessbr insured banks experimental ment purposes3 4/15 to extended be to program ' IsYlva 4 IlLet State Bankers Association, to be invited for lunch2/4 eon on March 25 4461 files: pacami_ "ation or request for information from, discussion in 8/24 connection with case of Lauchlin Currie 4azinati0n, permission granted to Senate Investigations Subcommittee to examine file of Lauchlin Currie as no loyalty investigative data 8/25 included in L procedure: lttments, classification of positions, and salary 12/3 changes, procedure approved interre -uu E., State Department, reply to letter 7/23 national conferences http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 137 588 145 1374 1377 2036 1162 Philwa elphia Stock Exchange: Margin requirements, reports of those met by liquidation, not necessary to keep for more than two3/16 year period, advice to Mr. Barthold 441111ne Central Bank, request of Secretary of Finance Cuarderno for services of Mr. Grove in 9/21 connection with setting up, approved quest of for services of Mr. Grove in connection with setting up, advice to Secretary Cuarderno 10/5 Phili„ 144ne Republic, securities of Chase National Bank held as collateral by FRBank of New York for deposits of, arrangement proposed by 7/23 FRBank of New York approved hil Pines: Crosse, Howard D., FRBank of New York, services to be loaned in connection with establishment of central 12/13 bank 1:112c)n and Martinez, Messrs., to be received at Board and 8/12 assisted with studies Leg islation to organize Philippine Central Bank, report of Messrs. Exter and Grove on mission 5/14 1514°tOrt Q.raPhic record of outgoing cash items, letters to be pre9/21 pared to three FRBanks on practice Letter tu_ be prepared to three FRBanks on continuance of 12/6 practice Letter 4idu FRBank of Boston as to cost in connection with 12/27 budget for 1949 Letter to FRBank of Cleveland as to cost, in connection 12/27 with budget for 1949 Letter vo FRBank of Minneapolis as to cost, in connection 12/27 with budget for 1949 NtograPhe: t 14-v-Bu it3 ca ,, rd- members, payment of voucher approved 9/8 Ba:t examinations: 'I') Dr. E. Osmun, discontinuance of arrangement to make, 5/21 approved chapl iscontinuance of arrangement, advice to 6/10 5/21 Texprn, Dr. Frederic D., employment to make, approved Szymczak, Mr. of Office etc3n, stenographer in Loverne, Pi411., 5/24 fee to be paid by Board otti '1101and, Washington representative of Bank of America, discussion with Chairman McCabe of applica10/19 tion for branch in Siam k-al -cAris Furniture Company of Tulsa, Okla., Regulation W, applicability to advertisement re sets and groups of articles, reply to FRBank of lktts staniey K., 11/24 Kansas City margin reauirements, reduction in, reply to 1/29 letter from 803rs Club: "°441butions to, reply to request of Mr. Simmons that 1/13 employees be solicited for http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 270 Pages 372 1540 1703 1161 2113 1273 781 1548 2054 2206 2209 2211 1469 825 930 824 831 1779 1976 129 62 Poi &cies, Board of Governors: peo .P e 3/18 ersonnen, statement of Personnel Committee approved 'al, Federal Reserve: c°nomic basis, committees of staff and Board appointed to prepare draft of proposed statement and 10/12 consultation re for Policy matters, discussion with Mr. Stevens of reasons for not 7/13 submitting to directors of FRBanks P°11 Y /,:ecord, Board of Governors: ffaIt of 2/25 entries covering 1947 approved es, change in discount rate at FRBanks of New York, Philadelphia, Cleveland, Richmond, Atlanta, 1/9 Chicago,St. Dads, Minneapolis, and tailas FRBank ofBoston, changes in rediscount rate and otinsEpproved 1/13 FRBank of Minneapolis, change in rate on advances to individuals, partnerships, and corporations other than member banks under last paragraph of Section 13, and minimum buying 1/14 rate on bankers' acceptances FRBank of San Francisco, discount rate change approved 1/14 Change at FRBanks of Boston, N. Y., Cleveland, Richmond Atlanta, Chicago, Minneapolis, Dallas, and 8/12 San Francisco FRBanks of Philadelphia, Minneapolis, and San Francisco, 8/20 changes at Re FEBank 8/18 of St. Louis, change in gulation D, amendment to supplement increasing reserve requirements of central reserve city banks 1/23 Amendment to supplement to increase reserve requirements of member banks in central reserve cities from 22 per cent to 24 per cent approved, Mr. Eccles to prepare stAement of reasons 6/1 for action egulation H, amendment approved 8/3 :gulation L, amendment approved 7/1 'glaation T, amendment No. 7 to permit substitutions in 3/5 undermargined accounts approved egialation y amendment No. 8 to permit substitutions in 3/5 undermargined accounts approved Regto fIion Iv, Consumer Instalment Credit 8/17 4ulendment No. 1, Delivery in Anticipation of Instal10/27 ment Sale, approved Ac) iey : ri nle ndment No. 2 adopted 12/17 praftc°rd, Federal Open Market: of entries for 1947 sent to representative members 2/25 for comments and suggestions 'LLticallIPProved 3/17 Oivi; affiliations: and community positims, service of FRBank oflrs arri — 12/27 1104ma pliyee3 in, advice to FRBank of Atlanta re nl Paul G., service as Administrator for Economic Co4/7 openition, tote considered as exception Il http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 271 Pages 381 1741 1112 254 34 58 64 65 1268 1337 1322 107 888-90 1214 1071 315 315 1291 1819 2154 254 380 2204 545 272 Pages Cal affiliations: (continued) Roffman, Paul G.: (continued) Deputy Chairman and Class C Director at FRBank of Chicago, appointment as Administrator for Economic Cooperation not to affect eligibility to continue service, exception made to rule because of national interest ,-4r1.:01ved in appointment Mitchell, George Senior Economist at FRBank of Chicago, leave without pay to serve in Governor's Cabinet as Director of Finance for State of Illinois, no objection to Parkma_, n Henry, Jr., Class C director at FRBank of Boston, question of appointment to be reviewed because of membership in Metropolitan Transit Authority and political implications Question of appointment as Class C director at Boston because of membership in Boston Metropolitan Transit Authority, action to be deferred and Personnel Committee to investigate some other person for vacancy WUrts, John H., Asst, Vice President of FRBank of New York, no objection to service as member of Planning Board of Township of Mahwah, New Jersey . c. Regulation W, reply to letter re amendment proposed to make unenforceable contracts not Pc)q conforming with Department: ) increased domestic postage rates and special service fees, copies of letter sent to FRBanks Re Dr4 .-k8tered mail service to Texas South High Plains Area, improvement requested by FRBank of Dallas, letter to Mr. Lawler ' rates: ‘'rease in registry and insurance rates, letter to FRBanks "zit of Ecorio United States: o Report, paragraph on reserve requirements to be submitted for inclusion in Paragraph re authority to increase reserve requirements for all insured banks approved for inclusion in Le • glslative proposals to be considered at meeting of Council of Economic Advisers lulonal authority to be requested covering all insured banks, statement of Chairman McCabe after meeting with Dr. Nourse's committee http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4/9 565 12/28 2225 3/23 428 3/30 486 8/23 1352 10/27 1828 12/28 2235 5/6 717 12/28 2235 12/14 2116 12/17 2148 12/21 2170 12/31 2250 273 Pages President of the United States: (continued) Ellropean Recovery program and military service, outlined in message to Congress, effect on fiscal policies of Government and policies of FRSystem, questions raised by Mr. Sproul re, Mr. Thomas to prepare memorandum for Chairmen Eccles' use in testifying before 3/19 Joint Committee on Economic Report H. R. 4790, to reduce individual income tax payments and for other purposes, veto message being prepared by Mr. Clifford, report of Board 3/31 lioto Bureau of the Budget re usilig policy, message to Congress re legislation for 2/19 liberalizing to be postponed to Yr. letter Message sent to Congress re, Board's 3/1 Gamble not to be sent M 'sage to special session of Congress, recommendations for legislation re credit controls to be in7/20 cluded in, Mr. Thomas to prepare memo Mr. Thomas to attend meeting at White House to make statements re recommended authority re consumer credit and reserve requirements 7/23 increase SecuritY Loan Drive by Treasury, Board to cooperate during 5/7 campaign, advice to State of Union message and Economic Report, letter and memo12/1 randum re approved and sent to Paragraph re authority to increase reserve requirements for all insured banks and statement re 12/17 approved D iscussion of three statements re reserve requirements and question of omitting sentence re applicability to all insured banks, Chairman McCabe to discuss matter with Secretary 12/22 of the Treasury Statements re reserve requirements presented by Chairman McCabe to Dr. Nourse at committee meeting, matter to be discussed by Chairman McCabe, Dr. Nourse, and Secretary 12/23 Snyder To 1, -e Presented to Congress in January, request for subjects to be included in, Messrs. Riefler, Morrill, Vest, and Carpenter to 11/9 prepare outline Legislative program of FRSystem, material requested to 11/15 be discussed at later meeting of Board Discussion of material to be prepared in response to request from, matter to be considered 11/16 further apMaterial requested for, procedure for preparation 11/17 proved afts of letter and memorandum to be revised in light 11/29 of discussion http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 390 488 233 290 1131 1154 736 2001 2147 2177 2190 1880 1901 1924 1930 1984 274 Pages Press statements; Antiinflation legislation, statement by Board to be issued only after signature of bill by President, Messrs. Thurston and Riefler to draft 8/6 statement Bank of America N. T. & S. A., authorization by Treasury for establishment of additional branches, statement in Washington Times-Herald re, discussion of matter by Mr. Szymczak with Mr. Delano in absence of Mr. Snyder, no reply to be made in press, letter to be 8/19 prepared for Comptroller of the Currency Statement by Mr. Delano re establishment of additional 8/19 branches Board, by "official spokesman", discussion in connection with statements re authorization by Treasury for establishment of additional branches by Bank of America, no reply to 8/19 be made in press Fl Doris, article in Evening Star giving votes of Board members on changing of Chairman McCabe's statement before House Banking and Currency Committee, discussion but no 8/4 action taken Leaks of information in, practice to be followed re inquiries from press, discussion in connection with article by Doris Fleeson in Evening Star giving votes of Board members re changing of Chairman McCabe's statement 8/4 Meraber bank earnings for 1947, release of press statement 2/16 approved Nevi. York and Chicago weekly reporting member banks, changes 6/22 in wording of captions Rediscount rates, increase from 1 per cent to 1-1/4 per cent at FRBanks of New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, 1/9 St. Louis, Minneapolis, and Dallas Regulation „I" amendments re delayed return of unpaid items 11/24 adopted Re in substitutions permit to gulations T and U, amendments 3/5 undermargined accounts approved /17 8 of issuance Credit, Regulation VT, Consumer Instalment 9/10 FRBanks to advice of, Appraisal guides, designation 9/29 20 arrangements, advice to lit(Banks re 11 /15 FRBanks Itegistration, Re to advice date, gistration deadline for selling articles of exemption Amendment No. 2 re $50 or more only because of inclusion of 12/17 sales tax approved Reserye requirements of member banks in central reserve 1/23 cities, increase to 22 per cent approved 6/1 Increase from 22 per cent to 24 per cent approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1242 1325 1325 1330 1224 1225 191 990 36 1975 317 1312 2488 1639 1904 2155 108 890 275 Pages Pl'ese statements: (continued) Reserve requirements increase, discussion of letter to Chairman to correct false impressions in, Mr. Clayton to prepare second draft 6/22 of letter for consideration Reserve requirements, increase for member banks approved 9/8 Transamerica Corporation, authorization for additional branches, no press statement to be issued in connection with articles in Times-Herald, advice of Secretary of the Treasury, state8/20 ment by Mr. Szymczak Recent articles re branches, concern of Comptroller of the Currency over, no further information to 8/24 be given to pre-2s Tr ansamerica Corporation proceeding, public hearings to be held in Vashington, docket to be available 10/1 for public inspection Antitrust proceeding against, hearing to be held on Price 11/5 December 7 $ Marcus W., National Archives, advice that Board has no need for transferring records because of 411,4 9/9 system of destruction Insurance Company: Qlies+ Aonnaire submitted to certain banks for information, 2/17 discussed at FAC meeting relations of Board: ts to FRBanks, attendance at meetings of bankers, and public addresses discussed as means of 12P improving Alaerican Banker, error in statement re hearing in connection with proposed amendment to Regulation J, advice to FRBanks 4/30 Capital: The Problem Restated", by Messrs. Tynan Smith and Raymond F. Hengren of FDIC, reply to Mr. Hanl re use of capital to 2/13 total assets ratio 13'9411(111g Studies, reprinting and distribution approved, budget of Division of Administrative 2/18 Services to be increased to cover cost 80Eirf, 0f Governors, request from Senate Committee on Appro9/20 priations for copies of 1948 Chicago Journal of Commerce, Regulation W, article re repair 11/12 and modernization credits be bits and Clearings Statistics, Their Background and Interpretation, by George Garvy, FRBank of New York, available for distribution, advice 3/11 to FRBanks /34t ributi0n, discussion of franking privilege and payment of postage by Board, use for business of Board justified, Board members to use discretlom in other cases 4/23 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 982 1467 1339 1371 1658 1860 1475 214 2080 694 184 223 1538 1895 356 645 276 Pages PlIblications: (continued) Essay by Mr. Solomon on Steps to Restore Powers of States and Localities, to be listed in October issue of FRBulletin and copies to be avail10/5 able, advice to FRBanks Evening Star, article by Doris Fleeson re votes of Board members on changing of Chairman McCabe's statement before House Banking and Currency Committee, discussion but no action taken 8/4 'Stem-....Its Purposes and Functions, revision, discussion of value, at meeting of Presidents Conference with Board 10/5 M°°°V.t sy Fitch, National Quotation Bureau, Board to absorb one-half of cost of computing figures on Group 2 corporate securities published by 10/19 Mood Investors Service, arrangement re publication of eighteen months' average prices approved, 11/3 advice to Mr. Gildea Par li -sty proofs sent to FRBanks for checking, instructions 7/20 for submitting additional information Res erve requirements, ceiling plan proposed by Dr. Goldenweiser in book for publication by Committee 11/17 for Economic Development Say ings bond sales manual, additional payment for publica4/26 tion approved , ' °n, Frederic, article for American Bar Association, not to be published in FRBulletin but copies to be available for 1RBanks, advice to 9/2 StaMr. Neely ndard & Poor's, Board to absorb one-half of cost of computing figures on Group 2 corporate securities published by 10/19 Stat ements of banks, decline of ratio of capital to deposits and loan accounts, matter to be discussed by 1/30 Mr. Vardaman with Mr. Clayton Street Journal, System plan for uniform reserve requirements, statement re, letter of Chairman sent to Joint Committee on Economic McCabe Nerto Rico: 5/21 Report NNaation W not applicable to credit extended outside continental United States, advice to War Depart11/29 ment Employees Credit Union ' .40r1 of banking laws, discussions with Dr. Di Venuti to be continued in cooperation with FDIC and esti° Comptroller of the Currency 5/27 Goviinaires: ellIment lending, study by Hoover Commission, material requested by Mr. Sproul to aid in work as member of Commission 5/14 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1708 1224 1689 1786 1849 1138 1931 655 1434 1786 136 810 1993 874 780 277 Pages Qllestionnaires: (continued) G overnment lending: (continued) Study by Hoover Commission, letter approved for sending material requested by Mr. Sproul Prudential Insurance Company, submitted to certain banks for information, discusJed at FAC meeting Staff. -- of Board on outside business and teaching activities, report on results of , responsibility of Board for maintaining in 'Washington PPort) Richard, President, National Association of Supervisors of State Banks, cooperation requested re of Regulation W enforcement Rates 5/27 861 2/17 214 1/23 6/1 103 891 9/16 1521 and certificates, increase in rates discussed at FAC meeting, Committee of American Bankers Association on Government Borrowing to meet 4/27 with Secretary of the Treasury to discuss Certificate, FAC statement re effect of increases on credit 9/21 control C°InracditY Credit Corporation, policy re loans and interest rates, discussion at Presidents Conference of possible change in rates, procedure for 10/5 taking matter up with Treasury approved conin banks for Question of increased interest rates nection with crop loans, discussion of Mr. Evans with Mr. Bartelt, no further action to be taken by Board at present, Mr. Evans to report developments at next 11/5 meeting of Presidents Conference "8count, no further increase at present, recommendation of 2/17 FAC discussed St. of FRBank by Establishment, procedure suggested Louis, not in compliance with requirement 7/23 of law 11/16 Changes not favored by FAC at present Schedule for fixing, bill to require monthly instead of every 14 days, discussion at Presidents 12/1 Conference ) FRB Atlanta: Aciv, all4 of 'flees to individuals, partnerships, and corporations other than member banks under last paragraph of Section 13, established at 2-1/2 1/23 per cent Adva,, "ces under Section 10(b): atablished at 1-3/4 per cent ! 1/9 mi tstablished at 2 per cent 8/12 buying rate: stablished at 1-1/4 per cent on bankers' acceptances 1/23 1.e.a. 8/12 t8tab1ished at 1-1/2 per cent on bankers' acceptances l!count: tstablished at 1-1/4 per cent 1/9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 660 1563 1697 1855 198 1158 1907 2015 101 36 1270 101 1270 36 'ktes FRBank of Atlanta: (continued) Rediscount: (continued) Discounts and advances under Sections 13 and 13a, estab8/12 lished at 1-1/2 per cent rate S chedules of discount and purchase approved: 1/2 1/9 1/23 2/6 2/20 3/5 3/12 3/26 4/2 4/16 4/30 5/14 5/21 6/4 etiOn 13b, rate charged borrower less commitment rate on portion of advances under and rate charged borrower on remaining portion established " ALFEriank of Boston: ces, to individuals, partnerships, and corporations — " under Section 13, established at 2-1/2 per cent Advances under Section 10(b), established at 1-3/4 per cent ec2stab1ishment of 2 per cent rate 4ulitments to industrial or commercial businesses under ' Section 13b, established at 1/2 to 1-1/4 per cent -°1ants under Section 13b, established at 1/2 to 1-1/2 per cent on comuitments http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 278 Pages 1270 1 36 102 151 244 308 359 450 497 591 692 767 824 899 6/11 6/18 933 968 7/2 7/9 7/23 8/6 8/12 8/20 9/3 9/17 9/24 10/8 10/22 11/5 11/19 12/3 12/17 12/31 1076 1099 1149 1234 1270 1338 1436 1525 1614 1717 1798 1854 1944 2032 2143 2245 8/12 1270 1/13 58 1/13 8/12 58 1268 1/13 58 8/12 1268 279 Pages Rates, FRBank of Boston: (continued) Purchases of Government securities under resale agreement as authorized by FOMC, 1-1/4 per cent rate established Established at 1-1/2 per cent mlnimum buying rate: Established at 1-1/4 per cent on bankers' acceptances Established at 1-1/2 per cent on bankers' acceptances Re discount: Established at 1-1/4 per cent on discounts and advances under Sections 13 and 13a Discounts and advances under Sections 13 and 13a, established at 1-1/2 per cent Schedules of discount and purchase approved: 3/26 8/12 450 1268 1/13 8/12 58 1268 1/13 58 8/12 1268 1/2 1/13 1/30 2/13 2/20 3/12 3/26 4/9 4/16 5/7 5/21 6/4 6/18 7/2 7/16 7/30 8/12 8/27 9/10 9/24 10/8 10/22 11/5 11/19 12/3 12/17 12/31 1 58 131 175 244 359 450 564 591 719 824 899 968 1076 1125 1183 1268 1393 1477 1614 1717 1798 1854 1944 2032 2143 2245 41tes, Acill bdank of Chicago: ctlices to individuals, partnerships, and corporations other than member banks under last paragraph of 1/9 Section 13, established at 2-1/2 per cent Aciv, stablished at 2-3/4 per cent ! 8/12 'flees under Section 10(b): Es 1/9 tablished at 1-3/4 per cent Gov Established at 2 per cent 8/12 "nment securities under resale agreement purchases as authorized by FOMC, 1-1/4 per cent rates 3/19 established http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 37 1270 37 1270 387 280 Pages Rates) FRBank of Chicago: (continued) Government securities: (continued) . Established at 1-1/2 per cent 141131-mum buying rate: Established at 1-1/4 per cent on bankers' acceptances Established at 1-1/2 per cent on bankers' acceptances Rediscount : Established at 1-1/4 per cent Discounts and advances under Sections 13 and 13a, estab— lished at 1-1/2 per cent S chedule of discount and purchase approved: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8/12 1270 1/16 8/12 70 1270 1/9 37 8/12 1270 1/2 1/9 1/16 1/23 1/30 2/6 2/20 3/5 3/12 3/19 3/26 4/2 4/9 4/16 4/23 4/30 5/7 5/14 5/28 6/4 6/11 6/18 6/25 7/2 7/9 7/16 7/23 7/30 8/6 8/12 8/20 8/27 9/3 9/10 9/17 9/24 10/1 10/8 10/15 10/22 10/29 1 37 71 102 131 151 244 308 359 387 450 497 564 591 624 692 719 767 876 899 933 968 1023 1076 1099 1125 1149 1183 1234 1270 1338 1393 1436 1477 1525 1614 1648 1717 1761 1798 1833 281 Pages 11tte s, FRBank of Chicago: (continued) Schedule of discount and purchase approved: (continued) 11/5 11/12 11/19 11/26 12/3 12/10 12/17 12/24 12/31 FRBank of Cleveland: Athrazices to individuals, partnerships and corporations under Section 13, established at 2-1/2 per cent 8/12 Aci vances under Section 10(b): Established at 1-3/4 per cent 1/9 mi. Established at 2 per cent 8/12 41MUM buying rate: Established 1/23 at 1-1/4 per cent on bankers' acceptances Established 8/27 at 1-1/2 per cent on bankers' acceptances 'rehases of Government securities under resale agreement as authorized by FOMC, 1-1/4 per cent rate established 3/12 Establishe d at 1-1/2 per cent 8/27 ediscount: Establishe d at 1-1/4 per cent 1/9 °iscounts and advances under Sections 13 and 13a, estab8/12 lished at 1-1/2 per cent Schedule of discount and purchase approved: 1/9 1/23 2/6 2/13 2/27 3/12 3/26 4/9 4/23 5/7 5/14 5/28 6/11 6/18 6/25 77/ /23 8/6 8/12 9/10 9/24 10/8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1854 1891 1944 1981 2032 2099 2143 2198 2245 1269 36 1269 101 1393 359 1393 36 1269 36 102 151 175 261 359 450 564 624 719 767 876 933 968 1023 1099 1149 1234 1269 1477 1614 1717 282 Pages ates rnank of Cleveland: (continued) ' Sehedule of discount and purchase approved: (continued) Section 13b, commitment rate change approved, to be submitted to Board in future before making changes tee, Frizank or Dallas: Acceptances, bankers, elimination of buying rate of 1/2 per cent on purchases with resale agreement approved -"ces to individuals, partnerships and corporations, established at 2-1/2 per cent A dvaaces under Section 10(b): Established at 1-3/4 per cent mi Established at 2 per cent nimum buying rate: Established at 1-1 /4 per cent on bankers' acceptances , E stablished at per cent on bankers' acceptances 1-1/2 Ited iscount: Established at 1-1/4 per cent Discounts and advances under Sections 13 and 13a, established at 1-1/2 per cent schedule of discount and purchase approved: 10/15 10/29 11/12 11/19 12/3 12/17 12/31 1761 1833 1891 1944 2032 2143 2245 5/10 751 5/14 768 2/13 174 1/9 36 8/12 1271 2/13 174 8/12 1271 1/9 36 8/12 1271 1/9 1/23 2/6 2/13 2/27 3/12 36 102 151 174 261 3/26 450 564 4/9 359 4/23 624 5/7 5/14 5/28 6/11 719 768 876 6/25 7/9 7/23 8/6 933 1023 1099 1149 1234 8/12 1271 8/27 1393 9/10 1477 9/24 1614 10/8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1717 283 Pages Ilates FRBank of Dallas: (continued) Schedule of discount and purchase approved: (continued) 10/15 10/29 11/12 11/26 12/10 12/17 12/24 Section 13b, elimination of maximum commitment rate of 1/4 per cent or flat fee not to exceed $50 on guaranteed under Regulation V loans 1111tes aBank of Kansas City: vances to individuals, partnerships, and corporations other than member banks under last paragraph of Section 13, established at Aci2-1/2 per cent 7-nces under Section 10(b): Established at 1-3/4 per cent mi Established at 2 per cent 111411M buying rate: Established at 1-1/4 per cent on bankers' acceptances , Established at 1-1/2 per cent on bankers' acceptances Red iscount: Established at 1-1/4 per cent on discounts and advances under Sections 13 and 13a Discounts and advances under Sections 13 and 13a, established at 1-1/2 per cent Sche_ dule of discount and purchase approved: 5/14 768 1/16 70 1/16 8/13 70 1274 1/29 8/13 127 1274 1/16 70 8/13 1274 1/2 1/16 1/29 2/13 2/27 3/12 3/26 4/9 4/23 4/30 5/14 5/28 6/11 1 71 127 175 261 359 450 564 624 692 768 876 6/18 6/25 7/9 7/23 7/30 8/6 8/13 8/27 9/10 9/24 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1761 1833 1891 1981 2099 2143 2198 933 968 1023 1099 1149 1183 1234 1274 1393 1477 1614 284 Pages Rates, FRBank of Kansas City: (continued) Schedule of discount and purchase approved: (continued) 10/8 10/15 10/29 11/5 11/19 12/3 12/17 12/31 1717 1761 1833 1854 1944 2032 2143 2245 1/14 8/20 64 1338 1/9 8/12 36 1271 1/14 8/20 64 1338 1141tee, FRBank of Minneapolis: Advances to individuals, partnerships, and corporations other than member banks under last paragraph of Section 13, change to 2-1/2 per cent approved A Established at 2-3/4 per cent advances under Section 10(b): Established at 1-3/4 per cent mA .Established at 2 per cent lnimum buying rate: Established at 1-1/4 per cent on bankers' acceptances A, Established at 1-1/2 per cent on bankers' acceptances ed iscount: Established at 1-1/4 per cent Discounts and advances under Sections 13 and 13a, established at 1-1/2 per cent Schedul e of discount and purchase approved: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/9 36 8/12 1271 1/2 1/9 1/14 1/23 2/6 2/13 2/27 3/12 3/26 4/9 4/23 5/7 5/14 5/28 6/11 6/25 7/9 7/23 8/6 8/12 8/20 8/27 9/10 9/24 10/8 1 36 64 102 151 175 261 359 450 564 624 719 768 876 933 1023 1099 1149 1234 1271 1338 1393 1477 1614 1717 285 Pages Rate 3/ FRBank of Minneapolis: (continued) Schedules of discounts and purchases approve,: (continued) Rates, PRBank of New York: Advances under Section 10(b): Established at 1-3/4 per cent u Establishment of 2 per cent rate um buying rates: Established at 1-1/4 per cent on bankers' and trade acceptances Established at 1-1/2 per cent on bankers' and trade acceptances Purro„ —lases of Government securities under resale agreement, rate of 1-1/4 per cent approved t_ Established at 1-1/2 per cent Established at 1-1/4 per cent Discounts and advances under Sections 13 and 13a, established at 1-1/2 per cent Schedule of discount and purchase approved: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10/15 10/29 11/12 11/26 12/10 12/24 1761 1833 1891 1981 2099 2198 1/9 36 1269 8/12 1/9 36 8/12 1269 2/20 8/12 244 1269 1/9 36 8/12 1269 1/2 1/9 1/16 1/23 1/30 2/6 2/20 3/5 3/19 4/2 4/16 4/23 5/7 5/14 5/21 5/28 6/4 1 36 70 102 131 151 244 308 387 497 591 624 719 767 824 876 899 6/11 6/18 933 968 7/2 7/9 7/16 7/23 8/6 8/12 8/20 1076 1099 1125 1149 1234 1269 1338 286 Pages Rate, / FRBank of New York: (continued) Schedule of discount and purchase approved: (continued) teFRBank of Philadelphia: 'trances to individuals, partnerships, and corporations under last paragraph of Section 13, established at Adva2-1/2 per cent nces under Section 10(b): Established at 1-3/4 per cent v. Established at 2 per cent 'animum buying rate: Established at 1-1/4 per cent on bankers' acceptances Established at 1-1/2 per cent on bankers' acceptances mrchases of Government securities under resale agreement, rate ' of 1-1/4 per cent approved BUYing rate established at 1-1/2 per cent ,cu iscount: Established at 1-1/4 per cent Discounts and advances under Sections 13 and 13a, established at 1-1/2 per cent, except advances to individuals, partnerships, and corporations Sched u-Le of discount and purchase approved: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9/3 9/10 9/17 9/24 10/8 10/15 10/22 10/29 11/5 11/19 12/3 12/17 12/24 1436 1477 1525 1614 1717 1761 1798 1833 1854 1944 2032 2143 2198 8/20 1337 1/9 8/20 36 1337 1/16 8/20 70 1337 4/2 8/20 497 1337 1/9 36 8/20 1337 1/2 1/9 1/16 1/23 2/6 2/20 3/5 3/19 4/2 4/16 4/23 5/7 5/21 1 36 71 102 151 244 308 387 497 591 624 719 6/4 6/18 824 899 968 7/2 7/16 1076 1125 287 Pages Rates, FRBank of Philadelphia: (continued) Schedule of discount and purchasaapproved: (continued) Rate8) PRBank of Richmond: Ad vances, under Section 10(b): Established at 1-3/4 per cent Established at 2 per cent Minimum buying rate: Established at 1-1/4 per cent on bankers' acceptances Established at 1-1/2 per cent on bankers' acceptances Red iscount: Established at 1-1/4 per cent Discounts and advances under Sections 13 and 13a, established at 1-1/2 per cent Schedule of discount and purchase approved: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/23 8/6 8/20 9/3 9/17 9/24 10/8 10/22 11/5 11/9 12/3 12/24 1149 1234 1337 1436 1525 1614 1717 1798 1854 1944 2032 2198 1/9 8/12 36 1271 2/13 8/12 174 1271 1/9 36 8/12 1271 1/9 1/23 2/6 2/13 2/27 3/12 3/26 4/9 4/23 5/7 5/14 5/28 6/11 6/25 7/9 7/23 8/6 8/12 8/27 9/10 9/24 10/8 10/15 10/29 11/12 36 102 151 174 261 359 450 564 624 719 767 876 933 1023 1099 1149 1234 1271 1393 1477 1614 1717 1761 1833 1891 288 Pages FRBank of Richmond: (continued) Schedule of discount and purchase approved: (continued) Rates 11/26 12/1D 12/24 rRBank of St. Louis: Advances direct to industrial or commercial businesses under section 13b, established at 3 to 5 per cent Advances to financing institutions under Section 13b, establidxd at 1-1/4 to 1-3/4 per cent Advances to individuals, partnerships, and corporations other than member banks under last paragraph of Section 13, established at 2-1/2 per cent Advances under Section 10(b): Established at 1-3/4 per cent Established at 2 per cent ulscount, procedure for establishment suggested, not in compliance with requirement of law Di scounts for and purchases from financing institutions under Section 13b, established at 1-1/2 to 2 per cent —Alla buying rates, established for bankers' acceptances Bankers acceptances, changes approved .Established at 1-3/4 per cent on trade acceptances iled iscount: Established at 1-1/4 per cent Discounts and advances under Sections 13 and 13a, established at 1-1/2 per cent schedule of discount and purchase approved: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1981 2099 2198 8/18 1322 1/22 99 1/9 37 1/9 8/18 37 1322 7/23 1158 8/18 1/22 8/18 8/18 1322 99 1322 1322 1/9 37 8/18 1322 1/2 1/9 1/22 1/30 2/6 2/13 2/27 3/5 3/12 3/19 3/26 4/2 4/9 4/16 4/30 5/7 5/14 5/28 6/11 6/18 7/2 7/9 1 37 99 131 151 175 261 308 359 387 450 497 564 591 692 719 767 876 933 968 1076 1099 289 Pages FEBank of St. Louis: (continued) Schedule of discount and purchase approved: (continued) Rates ! A FRBank of San Francisco: ' eelatances, bankers with resale agreement, 1-1/4 per cent approved for ACIVr, -flees under Section 10b: Established at 1-3/4 per cent co Established at 2 per cent Irilitment rate on Section 13b loans guaranteed under Regulation V to be discontinued CC3bnth 4 .L — ' 4-Lment rate on loans under Section 13b, elimination approved -aura buying rate: Established at 1-1/4 per cent on bankers' acceptances lotIr Established at 1-1/2 per cent on bankers acceptances Chases of Government securities under resale agreement, 1-1/4 per cent rate established ile_ Es tablished at 1-1/2 per cent ' 4!count: tstablished at 1-1/4 per cent on discounts and advances under Sections 13 and 13a tiscounts and advances under Sections 13 and 13a, established at 1-1/2 per cent m-Ls of discount and purchase approved: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7/16 7/30 8/6 8/18 8/27 9/10 9/24 10/1 10/8 10/15 10/29 11/5 11/12 11/19 11/26 12/3 12/10 12/17 12/24 12/31 1125 1183 1234 1322 1393 1477 1614 1648 1717 1761 1833 1854 1891 1944 1981 2032 2099 2143 2198 2245 5/25 847 1/14 8/12 65 1272 5/25 847 6/11 933 1/14 8/20 65 1338 4/15 8/20 586 1338 1/14 65 8/12 1272 1/2 1/9 1/14 1/23 1/30 2/6 2/13 2/20 1 37 65 102 131 151 175 244 290 Pages Rat", FRBank of San Francisco: (continued) Schedule of discount and purchase approved: (continued) 2/27 3/5 3/12 3/19 3/26 4/2 4/9 4/15 4/30 5/14 5/21 5/28 6/11 6/18 6/25 7/2 7/9 7/16 7/23 7/30 8/6 8/12 8/20 8/27 9/3 9/10 9/17 9/24 10/1 10/8 10/15 10/22 10/29 11/12 11/19 11/26 12/3 12/10 12/17 12/24 12/31 es r nks: '''01.1nt, increase in, action to be taken at next meetings, advice to FRBanks 'P'urther increase, question to be discussed at of FAC Increase in, discussion of point in letter to Spyder, action to be approved by taken by Banks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 261 308 359 387 450 497 564 586 692 768 824 876 933 968 1023 1076 1099 1125 1149 1183 1234 1272 1338 1393 1436 1477 1525 1614 1648 1717 1761 1798 1833 1891 1944 1981 2032 2099 2143 2198 2245 director& 1/6 14 2/2 141 8/10 1254 meeting Secretary Board if 4.tes FRBanks: (continued) Discount, increase in: (continued) Further increases in, to be discussed at meeting of executive committee of FOMC to be called in connection with proposed increase in reserve requirements 9/7 FAC credit increases on re effect of statement control 9/21 Rates "s, General: Flinotes, interest rates established to provide for increased deduction from payment to Treasury for reserves for contingencies 10/27 Interect charged on loans to businesses, revised reporting form for collecting information, letter to FRBanks requesting views 1/8 Reporting form for collection of quarterly information on, to be revised 5/25 Mex exchange, recent change, report by Mr. Dembitz and discussion 8/20 Sho rt-term, not changes favored by FAC at 11/16 present Short 4. -4erm interest, increase in, statement in letter to itee44,_ President re State of Union message 12/1 i( 3,5 1- sTarketable assets: : "Lalng compapy affiliates, requirements for those granted voting permits, advice to Mr. Snyder, South Pasadena, California 10/19 Tra nsamerica Corporation, stock of Occidental Life Insurance Company, Pacific National Fire Insurance Company, General Metals Corporation, and Columbia River Packers Association, Inc., and conventional mortgage loans, not classed as 6/28 Regy to letter concerning question of 9/7 n Bond & Mortgage Company, Port Angeles, Wash., real estate contract not classified as 4/20 n. s. Savings Bonds, Series G, question of consideration as, reply to inquiry from FRBank of Boston, changes in Regulation F to be considered in future 5/24 Question of being, for common trust fund purposes, advice 46.1. to FRBank of Boston 6/15 estate, (JjQ • Di Bond & Mortgage Company, Port Angeles, Wash., contract not classified as readily marketable asset 4/20 estate financing, resolution of FAC to send to Congress requested by Mr. Szymczak, Council to meet 4/27 for further consideration of matter -4uen Foundation, Regulation W I question of necessity of registration under, advice to FRBank of vesion. 11/22 St. Louis re Gove rriment securities market, break in commodi-ty prices, dismssion of possible effects, at mEetirg of FAC with Bard 2/17 291 Pages 1448 1563 1822 30 848 1339 1907 2006 i http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1787 1( , ) ,5 5(5 615 832 953 615 677 1956 198 292 Pages Recea J.on: (continued) 11/16 ii_oPossibility of, discussion at meeting of FAC with Board 'e nstruction Finance Corporation: Examination reports of State member banks having loans guaranteed by, request for, Mr. Leonard to advise that reauest of member bank with provision in agreement for authorization to be 2/6 required Real estate loans, participation of, statement to be pub6/2 lished in FRBulletin S. 22871 to amend RFC Act, report by Senate Banking and Currency Committee, letter to Senator Tobey re statement in report concerning Federal 3/23 Reserve lending authority clarition, more informa for ux L'Heure Request from Mr. fication of Senate Banking and Currency Committee's position re S. 408 by Mr. Tobey desirable, Mr. Vest to advise Mr. L'Heureux 4/2 4/5 No objection to, advice to Senator Buck Rem 1907 152 898 424 498 538 8e01221ts ' -4 Co mmodity Credit Corporation notes, eligibility for discount by FRBanks, discussion at Conference with 12/1 Presidents by purchase to ent commitm to subject loans Notes evidencing Commodity Credit Corporation, amendment to Regulation A considered unnecessary at 11/10 lie present s glaation rs: of Governo , Board A: Amendment proposed re discount of notes of producers under Commodity Credit Corporation program, comments of FRBank of Kansas City 10/26 and other FRBanks requested rs, produce Amendment proposed re discount of notes of under Commodity Credit Corporation program, considered unnecessary at present, advice 11/10 to FRBank of Kansas City to relating Section 6, interpretation of provisions eligibility for discount of bankers' 3/11 acceptances, advice to FRBank of St. Louis Reserve requirements of central reserve city banks, amendment to supplement to increase to 1/23 22 per cent approved Amendment to supplement to increase reserve requirements of member banks in central reserve cities 6/1 from 22 per cent to 24 per cent approved Amendment to Regulation and Supplement to increase reserve requirements of member banks approved 9/8 Amendments and amended Supplement, to be published with 9/10 introductory statement in FRBulletin http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2019 1887 1817 1887 352 107 888 1465 1493 293 Pages ations, Board of Governors: (continued) D: (continued) Amendment to provide for Burroughs Company plan for handling savings accounts, views of FRBanks 9/28 requested Computation periods for reserve and central reserve city banks, changes proposed, staff to prepare 10/12 report and draft of amendment to Revision to allow adoption of Burroughs Company plan re handling of savings accounts, to be con9/14 sidered, views of FRBanks to be requested Trust funds, deposit in member bank's own banking department in single time deposit, open account, or in single savings deposit, ruling to permit under, draft of letter re sent to FRBanks 11/19 consideration and comments for F: 1626 1740 1499 1945 City National Bank of Philadelphia, Penna., proposed fund being considered by Pennsylvania Bankers Association, not classed as common trust fund 11/29 under, Mr. Reeve to be advised Hamilton National Bank of Chattanooga and Hamilton National Bank of Knoxville, applicability to sale of stock of estate to beneficiaries by banks as co-executors, decision to be 9/8 made by court Hartford National Bank and Trust Company, Hartford, Conn., proposal to set up partnership to act as nominee for registration of securities in 1/9 trust accounts, not in violation of Savings securiBonds, consideration as readily marketable ties under, reply to inquiry from Mr. Charles 1/16 )K, upon limitations ling dealing with ruling Section 17(616 investments in common trust funds to be pub8/27 lished in FRBulletin, advice to FRBanks changes securities, Series G bonds as readily marketable to recognize, advice to FRBank of Boston 5/24 of possible amendments 4, vie mbership in FRSystem: Amendment to reflect changes in conditions of membership 4/23 proposed Conditions of membership, revision, program agreed upon, 5/21 Regulation to be revised Amendment to revise, FRBanks requested to send recommendations re conditions of membership to 6/11 be cancelled in revision program AMendment approved to eliminate standari condition of membership three and three standard trust 8/3 conditions 8/26 Amendment to, statement to be published in FRBulletin http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1988 1468 50 82 1396 832 631 818 942 1214 1391 294 Pages t."-Lations, Board of Governors: (continued) J: Amendments on delayed return of unpaid cash items, recommendation of Committee on Operations that joint report be approved adopted, amendments to be sent to FRBanks for consideration, procedure approved at Presidents Conference 2/27 Procedure for conditional payment of checks and return of unpaid items on next succeeding business day after receipt by drawee banks, copies of amendments sent to FRBanks for 3/12 comments and suggestions Notice of proposal to adopt amendments to be published in Federal Register, copies sent to FRBanks, comments requested 4/7 4/13 Statement for member banks sent to FRBanks No hearing to be held, advice to FRBanks re error in 4/30 American Banker To be adopted upon receipt of model statute from ABA re conditional payment of checks, 7/15 letter to Mr. Lawson 11/24 Amendments adopted, advice to FRBanks and ABA Material to be furnished to banks, FRBanks requested to advise number of reprints of 11/26 Regulation needed Amendments with introductory statement to be pub11/29 lished in FRBulletin Check collection circulars, clarification of FRBank authority to issue, revision to make, recommendation of Presidents Conference 2/27 Committee on Operations approved L: Amendment, proposal approved, Counsel's Office to work out details after consultation with Counsel for FRBank of New York, existing relationships to continue and proposed relationship involving Mr. N. Baxter Jackson not to be prohibited Amendment approved, advice to FRBanks Amendment to section 3, statement to be published in FRBulletin 0: 267 361 556 573 694 1122 1973 1983 1994 268 5/12 7/1 760 1071 7/1 1074 Blanding, William Cornell, Vice President and Director of Lincoln National Bank and Trust Company, Syracuse, N. Y., and also member of Executive Committee of bank, determined to be 10/11 executive officer under 1735 Absorption by member banks of costs of shipping currency, letter from Mr. Berry, President, Whitney National Bank, New Orleans, La., re applicability of 1421 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9/1 • Re glaations, Board of Governors: (continued) (4: (continued) Amendment to provide for Burroughs Com2any plan for handling savings accounts, views of FRBanks 9/28 requested Interest on deposits, inquiry on absorption of intangibles tax on Indiana deposits in national 1/21 bank in New York City Par clearance and payment of interest on demand deposits, reply to inquiry from Bangert & 12/2 Bangert 12/23 Reply to further inquiry from Bangert & Bangert Private wire system of Bankers Trust Company of New York, letter from Mr. Berry, President, Whitney National Bank, New Orleans, La., 9/1 re applicability of Revision to allow adoption of Burroughs Company plan re handling of savings accounts, to be considered, views of FRBanks to be re9/14 quested Time certificate in advertisement of national bank, question of compliance with provisions re payment of interest on deposits, advice 5/13 FDIC to R: T Amendment to permit exemption of persons engaged solely in underwriting and distributing bonds issued by States and political subdivisions, not consistent with regulations, but Mr. Hamilton invited to confer with Board if desired Amendment No. 7 to permit substitutions in undermargined accounts approved Amendment No. 7, to be published in FRBulletin Amendment to, reply to letter from FRBank of New York, enclosing ruling re substitutions in undermargined accounts to be published in FRBulletin and Federal Register A mendment to, reply to inquiry of FRBank of St. Louis re 90-day rule in special cash account French American Banking Corporation, termination of agreement under approved Ma 4 _ rg-La requirements, reply to inquiry from Mr. Alfred E. Frisbie re recent opinion on Ninety-day rule in special cash account, ruling to be published in Federal Register, copies sent to FRBanks Pacific Gas and Electric Company, unissued rights defined as unissued securities, subject to sections 3(h) and 3(d)(4), but have no loan value under section 3(c), advice to FRBank of San Francisco http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 295 Pages 1626 95 2029 2195 1421 1499 764 2/10 165 3/5 3/9 315 344 3/26 458 4/23 641 8/10 1263 5/5 705 4/23 643 3/17 380 Remo . -Lations, Board of Governors: (continued) T: (continued) Pacific Gas and Electric Company: (continued) Applicability of sections 3(d)(3) and 4(d)(2), ad3/22 vice to FRBank of San Francisco Policy matters, work of Division of Security Loans to be taken over by Division of Research and 3/23 Statistics, discussion of Purchase and sale of registered stocks in undermPrgined account, reply to letter from New York 9/24 Stock Exchange re applicability Reprinted copies to be sent to brokers and dealers registered with SEC, advice re number of 7/16 \ copies needed requested from FRBanks Huger by Mr. proposed amendment 6(f), and Sections 4\, (c to permit counting of funds as received before receipt of check, not considered 10/25 desirable Undermargined accounts, reply to inquiry from Mr. Milton N. Mound re restrictions on substitution 3/2 of securities in, and withdrawals from Ruling to be published in FRBulletin and Federal 3/26 Register, advice to FRBanks 4/8 Reply to inquiry as to odd-lot order 4/8 on se day required am Sale and purchase Tel egraphic transfers of funds, amendment to Paragraph 6 re closing hours for acceptance of interdistrict, recommendation of Presidents 3/9 Conference approved Travel: Amendment to increase allowance for automobile travel to 6-1/2 cents approved Amendment to Section 8 to include travel of employees engaged in review of Regulation W procedures conducted by Division of Bank Operations Amendment re approval of authorizations approved I30ard members' official trips, recommendation of Mr. Vardaman that approval of Personnel Committee not be required, matter referred to Personnel Committee Perdi• em allowance, recommendation re changes to be made by Personnel Committee Amendment No. 8 to permit substitutions in undermargined accounts approved Amendment No. 8, to be published in FRBulletin Amendment to, reply to inquiry of FRBank of St. Louis re single-day rule concerning substitutions Bant. A purchase of notes from Fruehauf Trailer Company, compliance with, reply to question by Mr. and Mrs. Hirschie Johnson sent to Congressman Fisher http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 296 Pages 401 418 1616 1127 1812 295 459 562 563 344 5/25 838 10/20 11/19 1794 1951 9/14 1498 5/14 784 3/5 3/9 315 344 4/23 641 5/19 802 ReiNdatlons, Board of Governors: (continued) (continued) Bergen Trust Company, Jersey City, N. J., violations of, FDIC examiners to check carefully in future 11/16 examinations for compliance Loan on registered stocks to make capital contribution to firm, reply to FRBank of San Francisco 5/10 re applicability of Policy matters, work of Division of Security Loans to be taken over by Division of Research and discussion of 3/23 Statistics, V: Reinstatement of procedure for war loans, reply to letter from Mr. James P. Orchard V: Administration, advice to FRBanks re plans for, comments concerning monthly reports, summary, and issuance of new outline of loan provisions requested Administration and enforcement, FRBanks to assist in, discussion at Presidents Conference Statements of Presidents at Conference re Adoption, effective September 20, 1948, approved Advertising, voluntary standards sponsored by Association of Better Business Bureaus, Inc., reply to letter from Mr. Nyborg Advertising in keeping with, letter to Mr. Nyborg, President, Association of Better Business Bureaus, Inc., re voluntary standards Advertisement, bona fide "free" gift of merchandise not prohibited, advice to FRBank of San Francisco Air conditioning units, reply to FRBank of Minneapolis re application of Air conditioners, room unit, portable units in excess of 1 horsepower rated capacity not included in classification, advice to FRBanks Air conditioners, medical expenses, and summaries of outstanding interpretations to be published in November issue of FRBulletin Airway Branches, Inc., single registration, same arrangement as for Martin-Parry to be worked out with, advice to FRBank of Cleveland Air_Way Branches, Inc., registration under, telegram to Mr. F. G. Saxton re A ir-Wdy companies, registration under, advice to FRBanks re Amendments re modernization and repair credits and enforceability of contracts, reply to letters from Mr. H. P. Davis and Mr. Andrew Miller http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 297 Pages 1927 749 418 7/27 1172 9/3 1440 10/5 12/1 8/17 1699 2024 1296 9/15 1511 10/5 1707 12/24 2201 9/10 1491 10/11 1736 10/21 1797 11/5 1866 11/12 1894 11/17 1936 9/10 1492 298 Pages i*eXations, Board of Governors: (continued) W: ‘continued) Amendment re enforceability of contracts, reply to letter from Gotham Credit Corporation, New York, amendment to include repairs to auto9/24 mobiles not being considered Amendments proposed re modernization loans, reply to letter from Mr. Klarner, Mgr., Continental 10/1 Hone Improvement Company, Baltimore, Md. Amendments proposed re enforceability of contracts and repair and modernization credits, reply to 10/5 letter from Senator McMahon Amendment to include home repair and modernization credits, reply to letter from Mr. Foley, Administrator, Housing and Home Finance 10/6 Agency discuscredits, repair and Amendment re modernization sion of arguments for and against, matter to be considered again after further study 10/15 by staff Amendment to permit delivery of article in anticipation of instalment sale without down payment, proposed revision sent to FRBLnks for com10/15 ments Amendment re modernization and repair credits, discussion of restrictions for financing institutions only, statement and draft of amendment to 10/22 be prepared for submission to FRBanks of shares by Amendment to exempt instalment loans secured stock in building and loan associations, 10/22 reply to Mr. C. Clinton James re Instalment of n Anticipatio Amendment No. 1, Delivery in 10/27 Sale, adopted Amendment proposed to make unenforceable contracts not conforming with, reply to letter from 10/27 Mr. E. C. Polk Amendment No. 1 with press statement to be published in November issue of FRBulletin, revised statement re summaries of interpretations 10/28 to be substituted for earlier material Amendments to summary of published interpretations re milk coolers and prefabricated decorative 12/6 fireplaces, advice to FRBanks Am endments proposed re modernization and repair credits and enforceability of contracts, resolution of American Industrial Bankers Association 12/15 opposing Amendment 50 for No. 2 re exemption of articles selling or more only because of inclusion of sales 12/17 tax approved A Brewster, ppliance business, reply to letter from Mr. Reseda Home Appliance Shop, Reseda, 9/28 California http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1617 1669 1707 1710 1762 1764 1799 1808 1819 1828 1832 2065 2133 2154 1627 Re • &Illations, Board of Governors: (continued) (continued) Appraisal guides: Publishers of, telegrams requesting information before designation sent to Press release re designation, advice to FRBanks Publishers, advice re designation sent to Advice re publications, territories, and addresses of publishers sent to FRBanks Kelley Blue Book, list of regions applicable to designation sent to Mr. Kelley Regions applicable to designations, lists sent to publishers Kelley Blue Book, designation of, advice to Auto Finance Company, Denver, Col., re approved Region Statement to be published in FRBulletin Kelley Blue Book, request for designation to be extended to cover four additional States, not granted Official Automobile Guide, reply to Mr. Meffley re proposed changes in Articles not designed exclusively for commercial use, statement to be published in FRBulletin Assignment as subject for primary consideration of Mr. Evans Authority for, paragraph re continuation approved for inclusion in Economic Report of President Automatic vending machines not listed articles under, advice to Mr. Tabor of Seven-Up Company, St. Louis, Mo. Automobile appraisal guides, statement to be published in FRBulletin Automobile dealers, proposals for amendment to permit relaxation of terms for sale of new, reply to letter from FRBank of New York A utomobile demonstrators, article to be published in FRBulletin A utomobile for use as demonstrator, exemption of credit to automobile salesman to finance purchase of new, advice to FRBanks Au tomobiles, requests for modification of terms for sale of new, advice to FRBanks re, no change contemplated Balanced-Budget Plan of Industrial Bank of Commerce of New York, reply to letter re possible violations and misleading advertising Balloon notes, reply to inquiry from Mississippi Valley Trust Company of St. Louis 33arnett National Bank of Jacksonville, Florida, applicability to loans to pay fire and casualty insurance premiums http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 299 Pages 9/1 9/10 9/10 1422 1488 1489 9/15 1508 9/15 1509 9/15 1509 9/20 9/30 1538 1647 11/16 1928 11/24 1979 11/19 1949 8/13 1275 12/17 2148 8/26 1391 9/30 1647 12/23 2195 11/19 1949 11/12 1894 12/20 2159 12/28 2228 10/26 1817 10/13 1756 Regul ti Board of Governors: (continued) we (continued) Bendix Automatic liasher Commercial Model C, sales 10/15 subject to Bottled gas installation, applicability to, advice to 10/12 FRBank of Richmond Car dealers who refer purchasers to financing institution for credit for purchase of used 11/26 car, telegram to FRBank of Dallas publication, Changes proposed in Federal Register FRBanks advised to discuss subject with 9/2 national associations Charge 6 accounts, regulation still applicable to conversion of 9/9 Conference, to be held on October 7 and 8, advice to 9/17 FRBanks Advice re agenda and suggestions requested from 9/23 FRBanks 10/1 Agenda for, copies sent to FRBanks Conservative policies to be followed by retailers after termination of, FRBanks not to make additional request for, FAG suggestion not to 2/19 be followed instalment to credit Conversion of non-instalment basis, ruling in January 1947 Bulletin still applicable, advice to FRBank of 10/25 Dallas Corrective appliances and wheelchairs, applicability to 10/15 loans to finance purchase of Credit outside United States, not applicable to, ad11/29 vice to Mr. Chapman, Puerto Rico Curtail and renewal, applicability of section 5(a), reply to inquiry from Asbury Park National Bank and Trust Company, Asbury Park, 11/17 N. J. CUrtail and renewal of pre-September 20 credits, state11/19 ment to be published in FRBulletin Curtailment of business by, replies to letters re, copy of letter to Mr. Frantz sent to FRBanks 12/15 for help in answering similar inquiries Cy cle-billing proposed by Donaldson Company, reply to 9/15 letter from FRBank of Minneapolis re Delivery in anticipation of instalment sale, reply to inquiries of Messrs. Timmermenn and Rizor 10/12 sent to Honorable Thomas E. Martin Division of Bank Operations to perform work previously done by Division of Security Loans, under direction of Mr. Leonard, advice to 9/10 FRBanks Supply Auto Electric ironers, plan proposed by Western Company, Kansas City, Mo., re rental and 11/10 sale of, advice to FRBank of Kansas City http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 300 Pages 1772 1751 1984 1432 1474 1526 1607 1668 225 1814 1773 1993 1935 1949 2131 1510 1752 1478 1888 301 Pages N;Illations, Board of Governors: (continued) 11: (continued) Employees' loan funds, reply to inquiry from Standard 12/24 Oil Company concerning payments Enforceability of contracts, amendment to be considered, announcement to be made at time of publication of new regulation and comments re to 8/17 be requested Enforcement procedure, previous arrangement submitted 9/2 to Attorney General for reissue of 9/2 Instructions and revised outline sent to FRBanks Cooperation of FDIC and Comptroller of the Currency requested re, copies of Outline of Enforcement Program sent to Messrs. Harl 9/16 and Delano Cooperation of National Association of Supervisors 9/16 of State Banks requested received, Discussion at FAC meeting, regulations well but permanent authority not favored by FAC 9/21 9/22 Instructions and revised Outline sent to FRBanks Cooperation of National Association of State Small Loan Supervisors requested in letter to 9/29 Mr. Kirmmse, President Enforcement reports, revision, copies and instructions 11/5 for use sent to FRBanks Summaries of investigations, monthly reports not necessary from Federal Home Loan Bank 12/2 Board, advice to FRBank of Cleveland 12/14 Summary for October sent to FRBanks 12/28 Summary for November sent to FRBanks Evaporative air coolers without refrigerating unit not classed as air conditioners under, 10/18 advice to FRBanks 12/21 Ex00, George, letter of appreciation for work on Expenses for 1948 at FRBank of Dallas in connection 12/6 with to prior Extensions of credit for arrangements made September 20, interpretations not to be published before September 20, but advice 9/2 re sent to FRBanks of Extensions of credit made prior to effective date Regulation, copies of Board's telegrams 10/6 re sent to FRBanks EBank of Atlanta, reply to questions from Mr. McLarin re Form 639, pre-September 20 loans, and 10/12 mechanical refrigeration units FRBulletin, statements re amendment to Regulation, preservation of records, conversion of noninstalment credit to instalment basis, amendments to summaries of previously published interpretations, deliveries in anticipation of sales, and sets and groups of articles to be published in January issue 12/27 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2200 1292 1425 1426 1517 1521 1582 1594 1641 1863 2031 2122 2228 1776 2127 2067 1431 1711 1751 2215 Regul • aticns, Board of Governors: (continued) 161: (continued) Final monthly instalment of less than M, reply to 11/9 inquiry from FRBank of Chicago to be article pubFinal instalment less than minimum, 11/19 lished in FRBulletin Furniture and electrical appliances, reply to letters re discriminatory requirements, sent to 10/25 Congressmen Ellender and Morrison General Finance forms, reply to letter from FRBank of 9/16 Chicago Grant, John, FRBank of New York, services to be loaned 8/18 to Board for work on in preparation Letter of appreciation for services of 9/24 Heath, E. A., letter of appreciation for services in 11/9 connection with G. from C. Mr. letter to Household appliances, reply 12/10 Frantz re decline in sales of 9/22 FRBanks sent to form Identification Certificate, and 3(c) section in mentioned Instruments or records section 8(a), reply to telegram from 9/14 FRBank of Cleveland Iowa Bankers Association, reply to letter from non11/24 member bank recomrequesting FFBanks Issuance of new, telegram to 8/9 mendations Jewelry, reply to letter from Mr. Rukeyser re exclu9/22 sion of Joint purchase of three automobiles by three persons, transaction subject to, Mr. Neuman to be 10/22 advised by FRBank of San Francisco Legislative proposals re credit controls, report of Mr. Thomas re meeting with Bureau of the 11/16 Budget Legislative proposals to be made concerning authority to regulate, advice to Bureau of the Budget 11/30 Legislation to continue authority, statement in letter 12/1 to President re State of Union message Request of Council of Economic Advisers for drafts, 12/21 matter to be discussed further Legislation to make permanent authority, draft of bill approved, to be submitted to Council of Economic Advisers, alternative drafts to 12/22 be prepared later Legislation, possible inclusion in omnibus bill dis12/23 cussed Not to be included in omnibus bill, request to be 12/28 made at proper time Chairman McCabe to discuss proposals with Chairmen 12/31 of Banking and Currency Committees http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 302 Pages 1883 1949 1814 1516 1323 1615 1881 2105 1598 1505 1977 1250 1598 1807 1925 1999 2006 2170 2175 2191 2225 2256 Rep,' toAmtions, Board of Governors: (continued) V: (continued) Leonard, R. F., initial duties as Associate Director of Division of Bank Operations to be in 8/17 connection with Loan for payment of special tax or assessment against real property to cover improvements, ad11/1 vice to FRBank of San Francisco Loans secured by borrower's own interest or savings department accounts, amendment to exempt suggested by Central Islip National Bank, Central Islip, New York, not considered 10/25 justified Loans to employees by organizations not otherwise engaged in instalment credit business, applicability of Regulation, advice to 10/27 FRBanks Loans of less than 450, reply to suggestion of Mr. Crane of National Finance Company, San 11/2 Antonio, Tex., that such loans be exempt Maximum maturity of loan with one half for purchase of listed article and other half unclassified, reply to inquiry from FRBank of 10/14 Richmond check routine Company, Insurance Metropolitan Life in connection with, advice to FRBank of 11/22 St. Louis Milk coolers, amendment to summary of published inter12/6 pretations re, advice to FRBanks New regulation, request of Housing and Home Finance Agency that blanket exemption of repair and modernization loans not be included in 8/10 Discussion of questions re organization, policy of enforcement, etc., informal committee 8/10 set up to meet on problems apRecommendations re provisions to be included proved after discussion of maximum credit 8/13 to be covered and maturities 8/13 requested FRBanks Changes to be made in, views of FDIC, Currency, Cooperation of Comptroller of the and Farm Credit Administration in enforce8/17 ment assured t enforcemen Reply to letter from Mr. H. L. Combs re 9/2 and reasons for and FDIC to Outline of Enforcement Program, copies sent 9/16 Comptroller of the Currency Part 2 of Supplement, interpretation concerning instalment payments and principal amount sent o 9/2 FRBanks J.L.May, art Mr. from -- 4 of Supplement, reply to letter President, Morgan Plan Industrial Bankers, 9/27 Mobilet taa., re inflated values of used cars http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 303 Pages 1317 1840 1813 1827 1842 1759 1955 2065 1260 1261 1276 1284 1291 1432 1517 1428 1622 Re • Wations, Board of Governors: (continued) W: (continued) Pianos, reply to letter from Mr. J. W. Butcher sent to Congressman Lucas Prefabricated decorative fireplaces, amendment to summary of published interpretations re, advice to FRBanks Pre-September 20 arrangements, advice to FRBanks Press statement re, advice to FRBanks Preservation of records, interpretation of section 8(a) sent to FRBanks Protests against certain provisions, reply to letter from Mr. Myron R. Bone, Vice President, American Industrial Bankers Association unenforceable contracts not complyrender to Provision ing with terms of regulation, discussion, decision to be deferred, FRBanks to be asked for views Rebsamen Foundation, question of necessity for registration under, advice to FRBank of St. Louis re Reduction in interest rate on pre-September 20, 1948 loan under section 5(a), reply to inquiry of Cadwalader, Wickersham 8c Taft, New York City. Refinancing by finance company of balloon balance of note, reply to inquiry from FRBank of Dallas Refinancing of credit originally exempt, statement to be published in FRBulletin Refrigerators, sale to owners of apartment houses, reply to inquiry from Mr. E. B. Ingram, President, National Electrical Wholesalers Association, New York City Sale to owners of apartment houses, advice to FRBanks re applicability to Registration Statement, advice to FRBanks on preparation of Registration Statement and Certificate, forms and instructions for reproduction sent to FRBanks Registration statements, procedure for dealing with defects and inconsistencies, advice to FRBanks Registration statements from Rexair salesmen, such certificates not to be issued until further advice, telegram to FRBanks Registration under Section 2(h) not required if extensions of credit exempt by Section 7, advice to FRBank of St. Louis Registration, deadline date, advice to FRBanks and copy of press statement http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 304 Pages 9/16 1523 12/6 9/8 9/29 2065 1469 1639 12/13 2113 10/22 1809 8/13 1277 11/22 1956 12/22 2182 11/17 1937 11/19 1949 11/1 1838 11/5 1865 9/3 1440 9/16 1515 10/11 1735 10/12 1750 10/20 1792 11/15 1904 305 Pages Re ations, Board of Governors: (continued) (continued) Registration arrangements for Martin-Parry Corporation (successor to Rexair Corporation) completed, advice to FRBanks Registration of Credits Exempt, statement to be published in FRIulletin Registration statement, question of filing by business organization not engaged in credit business but making instalment loans to employees, reply to inquiry of Mr. Lyon, Boston re Procedure for tabulation, instructions to FRBanks Renewals and revisions of real estate loans under, reply to inquiry from Mr. H. M. Craft, President of California Bankers Association Rental-sale arrangement for refrigerators with coin meters attached, letter to FRBank of Minneapolis re inquiry from Buutells Rental-purchase arrangements, statement to be published in FRBulletin Repair and modernization loans, amendment to be considered, announcement to be made at time of publication of new regulation and comments re to be requested, Housing and Home Finance Agency to be consulted Reply to letter from Consolidated Construction Company of Brookline, Mass., re inclusion of Letter to FRBank of St. Louis re inquiry from Lincoln Bank and Trust Company, Louisville Ky. Amendment to cover, reply to inquiry from Mr. Clark of Council of Economic Advisers Replacement for defective stove sold on instalment plan, advice to FRBank of St. Louis re inquiry from Lammert Furniture Company Residential buildings, not applicable to, reply to inquiry from Mr. Ralph H. Taylor Restrictive terms, question of tightening, suggestion of Mr. Vardaman, matter referred to Mr. Clayton for recommendation Retail Furniture Association of Texas, Inc., reply to letter from Mr. Dill Rexair matter, FRBank of Chicago authorized to send letter to Mr. N. E. Hutchens, Counsel of Martin-Parry Corporation Rexair (Martin-Parry), registration of salesmen, same arrangement for single registration to be worked out with Airway Branches, Inc., advice to FRBank of Cleveland http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11/4 1852 11/19 1949 11/9 12/1 1882 2008 11/15 1905 11/18 1940 11/19 1949 8/17 1293 9/21 1560 11/12 1895 12/21 2170 11/12 1895 2/12 172 8/24 1373 11/22 1956 10/21 1796 11/5 1866 306 Pages Board of Governors: (continued) W: (continued) Roasters, automatic electric table model, listed article under, advice to FRBank of Cleveland Rulings under, statement re status of previous to be published in FRBulletin Section 6(d), permission of non-regulated add-on to regulated outstanding indebtedness under, advice to FRBank of Atlanta Section 6(g), delivery of listed article in anticipation of instalment sale, interpretation to be published in FRBulletin, advice to FRBanks Section 7(g)(1), exemption applicable only to loans for construction or purchase of entire residential buildings or other entire structures, advice to FRBank of St. Louis Seeburg record player, considered listed article, advice to FRBank of Chicago Service, in loose-leaf style for FRBanks and cooperating agencies, procedure adopted, advice to FRBanks Sets and groups of articles, inquiry from FRBank of Kansas City re advertisement of Pigskin Davis Furniture Company of Tulsa, Okla., reply to $70 monthly instalment requirement, applicability to renewed, revised or consolidated obligations under section 5(a), reply to inquiry from FRBank of Kansas City Sewing machines, application to rentals of, advice to FRBank of Dallas Sink incorporating dishwasher, determined to be listed article as combination unit, advice to FRBank of St. Louis Sperry-Kirby Company, Houston, Texas, registration, similar arrangement as for Martin-Parry Corporation re dealer-salesmen, advice to FRBank of Dallas Statement of Borrower, reply to letter from Mr. Jno. K. Althaus, Credit Bureau, Washington, D. C. Statement to be published in FRBulletin Stove for use of bottled gas to replace old stove converted to use of bottled gas, sale to be considered separate transaction, advice to FRBank of Philadelphia (1.14mary of interpretations sent to Federal Register °Iammary of interpretations issued before November 2, 1947, applicable under new Regulation, copies sent to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11/8 1869 8/27 1399 10/15 1773 12/15 2132 11/18 1940 10/22 1806 12/10 2104 11/24 1976 9/27 1621 10/6 1711 11/22 1955 12/22 2184 10/19 8/26 1787 1391 11/29 9/23 1992 1607 10/8 1727 t. ReiNa a-lons, Board , of Governors: (continued) w: (continued) Table Model Roasters and Cookers, statement to be pub11/19 lished in FRBulletin taxes based to Taxes, "applicable sales taxes" refer on actual sales price, advice to FRBanks 12/2 of Cleveland and New York re Alfred Goldstein Taxicabs, reply to letter from Mr. 9/14 applicability Exemption from, information re State laws and com12/7 ments requested from FRBanks from letter to Mr. reply Applicability to sale of, 12/7 Alfred Goldstein Roberts, letter from to Mr. Television receivers, reply 9/7 of Roberts & McInnis Television sets, reply to suggestion of Mr. Jno. K. Althaus re amendment to provide free trial 9/27 period for Rollin Mr. from letter to reply Termination prospects, 12/9 H. Stewart Trailer coaches, applicability to, reply to letter from Mr. Wilson, Trailer Coach Manufacturers 9/24 Association, Chicago, Ill. Transactions initiated before effective date of, state9/30 ment to be published in FRBulletin Travel expenses of employees engaged in review of, 10/20 amendment to travel regulations approved sale re ABA from letter Unlisted articles, reply to on instalment basis and instalment loan 12/28 to purchase Verifications of maximum credit value by banks or finance companies in purchasing or discounting automobile instalment paper, not 12/1 required, advice to FRBanks Violations, cooperation of Federal Security Agency, Home Loan Bank Board, and Department of 9/17 Agriculture requested to prevent Washing machines, demonstration of, applicability of section 6(g) to, advice to FRBank of 9/9 Dallas Reply to Mr. Joe W. Thiele re applicability to 9/24 practice used in demonstrating W°rIcing arrangements with cooperating agencies, letter 114 12/14 to be prepared on Ct FRBanks: Y no change to be made in vacation, but sick leave to be limited to six months in two-year period with exceptional cases to be submitted to 4/2 directors or executive committee http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 307 Pages 1949 2030 1505 2087 2088 1460 1622 2096 1618 1647 1794 2229 2008 1526 1474 1619 2122 505 308 Pages helotions with dealers in securities: As M. Kidder & Co.) case to be reviewed by FRBank of New 8/23 York after end of year Agnew-Fayerweather case, decision of Supreme Court re men1/16 tioned in case of Dominick & Dominick Austin, Albert M., President and Director of First National Bank of Sparkill, New York, and partner in firm of Francis I. duPont Co., New York, applicability of section 32, relationship to be brought into conformity with law 8/23 unless additional information submitted Brewer, S. of Bank Herkimer, National First of N., Director New York, and employee in Utica office of Carl A. Loeb, Rhoades & Co., New York, applicability of section 32, relationship to be brought into conformity with law 8/23 unless additional information submitted Colgate, Henry A., Director of Morristown Trust Company, Morristown, N. J., and partner in WoodStruthers & Co., New York, applicability of section 32, relationship to be brought into conformity with law unless addi8/23 tional information submitted D°"nick & Dominick, applicability of section 32 of Banking Act of 1933, Agnew-Fayerweather de1/16 cision mentioned in connection with Dubin, Ralph, service as director of Merchants Bank of New York, N. Y., and as employee of Hirsch & Co., New York, N. Y., applicability of section 32, additional information to be presented to bank if desired before definite opinion expressed 3/29 by Board Applicability of section 32 of Banking Act of 1933, no change in position re, discussion of matter in Washington to be arranged if desired by Mr. Markel, advice to FRBank 8/2 of New York Additional information considered, relationship to be 10/1 brought into conformity with statute and L'ervice as director of Merchants Bank of New York as employee of Hirsch & Co., New York, prohibited by section 32 of Banking Act 11/10 of 1933 11E11411 4. R Herman P., request for amendment to Regulation to permit exemption of persons engaged solely in underwriting and distributing bonds issued by States and political subdivisions, not consistent with regulations, but invited to confer with Board if desired 2/10 A pplicability of section 32 of Banking Act of 1933, ad6/18 vice to ifiBank of Richmond http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1356 76 1353 1353 1353 76 475 1203 1661 1886 165 974 309 Pages Relations With dealers in securities: (continued) Harrison, E. lqebster, partner of Harrison & Company, Cincinnati, Ohio, section 32 not applicable to busineos Partner of Harrison & Company, Cincinnati, Ohio, section 32 not applicable to Hudson, Ceylon E., Worcester, Ohio, section 32 not applicable to business _ Section 32 not applicable to Illinois Securities Co., Joliet, Illinois, case to be reviewed after end of year and additional information to be submitted to Board, Mr. Peyla to be advised Ingalls, Roscoe C., partner in firm of Ingalls & jpyder, New York, N. Y., ruled eligible to become director of First National Bank of New Rochelle Kaichen, Troy, member of firm of 1;estheimer & Co., Cincinnati, Ohio, applicability of section 32, further information requested Kean, Robert N., President and Director of Livingston National Bank, Livingston, N. J., and partner of Kean, Taylor & Co., New York, applicability of section 32, relationship to be brought into conformity with law unless additional information submitted Ol Lonnell, L. A., representative of Strauss & Blosser and director of Gary Trust and Savings Bank, Gary, Indiana, applicability of section 32, relationship to be brought into conformity with law unless additional information submitted Service prohibited by section 32 of Banking Act of 1933 Olson, W. R., service as president and director of State Bank of Hawley, Minnesota, vicepresident and director of First Eational Bank, Barnesville, Minn., and proprietor H. Olson Company, Fergus Falls, of Minn., applicability of section 32, unless additional information submitted relationship to be brought into conformity with law Patterson, hdbert, President, of Hillman healty Corporation, Dayton, Ohio, applicability of section 32, further information requested President of Greene & Brock, Dayton, Ohio, and Director of Peoples Bank of Dayton, Ohio, section 32 not applicable to http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4/22 620 8/23 1357 4/22 8/23 620 1357 8/23 1359 1/12 56 4/22 620 8/23 1353 8/23 1358 12/7 2084 4/8 561 4/22 620 8/23 1357 310 Pages 414tions with dealers in securities: (continued) 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, to be invited to discuss case in Washington before 1/16 opinion issued Section 32 status, further consideration to be postponed pending recovery from heart attack 2/2 Consideration of matter to be postponed for month 4/15 To retire as limited partner of Dominick & Dominick to comply with section 32 of Banking Act of 1933, no objection to effective date of June 30, 1948 5/6 Rebmann, Geo. B., service as director of Camden Trust Company, Camden, New Jersey, and as partner of Laird, Bissell & Meeds prohibited by section 32 of Banking Act of 1933 12/30 Review of application of section 32 of Banking Act of 1933 to existing interlocking relationships, information requested from FRBanks 1/27 SecuritY underwriters, review to be made by Legal Division to determine if "primarily engaged" in under1/16 writing business Shearson Hammill & Co., case to be reviewed by FRBank of 8/23 New York after end of year States and municipalities, exemption requested by Mr. hamilton for persons engaged solely in underwriting and distributing bonds issued by, not permissible, Mr. Hamilton invited to discuss 2/10 matter with Board if desired .441an, Maynard & Co., case to be reviewed by FRBank of 8/23 New York after end of year 140stheimer & Company, Cincinnati, Ohio, applicability of section 32, additional information re8/23 quested before decision -tt. On, "William, loyalty investigation, procedure followed by Department of Commerce re release of 8/25 personnel file of office mechanical equipment and business machines, information re sent to Mr. Robert b. Lee, Chief, Investigative Staff, House Commit9/22 tee on Appropriations krat ing conditions in districts, quarterly reports, information to be obtained in next, advice to 2/10 FRBanks comments requested by FRBanks on certain questions in 11/12 next report 1)erti tz, Lewis N., report on ECA problems, change in Mexican exchange rate, and developments in Latin 8/20 American countries http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 76 139 588 709 2242 116 78 1356 165 1356 1357 1377 1593 167 1896 1339 311 Pages Repo rts: (continued) 1‘11°, report re developments given by Mr. Dembitz at 8/10 Board meeting Federal Inventory Control System, by Bureau of the Budget, copy acknowledged, but program not applica7/1 ble to Board PRSYstem activities in territories of U. S., reply to letter from Mr. Davis, Department of Interior, re7/9 questing information for report Reiover Commission, report on Board prepared by Mr. Bach for committee on Independent Regulatory Commissions, question of comment by Board, additional copies to be requested and Mr. Szymczak to talk with Mr. McCabe, staff members to dis8/26 cuss matter with mr. Bach Report on Board of Governors prepared by Mr. Bach, statement of Mr. Szymczak re talk with kir. Bowie and Chairman McCabe, matter to be placed on 8/31 docket for September 7 Report not to be submitted but discussions to be held with 9/7 Mr. Bach International activities of Board, prepared for Mr. Miller to use in Foreign Affairs Project of Commission on Organization of Executive Branch of 7/20 Government International Monetary Fund and International Bank for Reconstruction and Development, third annual meetings of Governors, report to be sent 10/4 to Board International Section of Division of Research and Statistics, report by Mr. Johns discussed, to be used in working out problems of organization and 7/7 classification of employees International situation, report by Mr. 5/14 Knapp Report of Mr. Southard and discussion of economic devel12/21 opments in Japan and operations under ECA 1441'gin requirements met by liquidation, not necessary to keep for more than two-year period, advice 3/16 to Philadelphia Stock Exchange than Heather banks which are depositing daily average of more 300 cash items payable in territory of another FRBank or Branch, report covering 12/9 week requested Me% i"an exchange rate and currency, report by Mr. Dembitz 8/10 to be given at Board meeting on August 17 °nal Advisory Council, semi-monthly written report on activities to be made by Division of Re3/5 search and Statistics RePort by Mr. Knapp including discussion of British loan agreement, aid to China, and attitude of NAC toward continuation of Bank for 3/19 International Settlements http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1252 1073 1103 1383 1410 1447 1137 1672 1092 782 2165 372 2097 1252 328 387 312 Pages v" ,s: (continued) National Advisory Council: (continued) Report of developments by Mr. Dembitz 7/15 Periodic oral reports by members of International Section 7/15 to be made in addition to written reports National Security Resources Board, wartime economic stabilization studies, special preliminary report approved, more comprehensive report to be sub10/12 mitted later °vertime payments, monthly reports to be discontinued 6/17 ',"11iPpine mission, report by Messrs. Exter and Grove 5/14 egulation W enforcement, revision, copies and instructions 11/5 for use sent to FRBanks Summary for October sent to FRBanks 12/14 0_ Summary for November sent to FRBanks 12/28 °nall business, reports of inadequate financing facilities, 7/15 to be discontinued, advice to FRBanks St atistical activities of Board, report sent to Mr. Frederick C. Mills for use in connection with work of Commission on Organization of 6/28 Executive Branch of Government SUbmissi n 0 and distribution by research staff, no action to be taken until meeting of Board with 10/8 Mr. Evans present Procedure recommended by Mr. Evans, memorandum to be prepared by Secretary, and after approval by Board to be read to Mr. Thomas by 10/15 Chairman McCabe SYstem hesearch Advisory Committee and Presidents Conference Subcommittee on Research and Statistics, procedure to be followed in submitting reports and recommendations, Mr. Evans 10/1 to discuss matter with Mr. Thomas Travel authorizations approved by division heads, monthly report to be prepared by Division of Administrative Services and submitted to 11/19 Personnel Committee 1,ase °n31/1 Bankshares Corporation, Milwaukee, Wis., annual 11/15 report to be obtained on Form FR 437 on bills: R. 2799, to amend Federal Home Loan Bank Act, Title IV of National nousing Act, and for other purposes, comments sent to Bureau of the 4/16 Budget re bill and proposed amendment Amendment by Housing and Home Finance kigency to, Board opposed to, advice to Chairman Tobey, 5/11 Senate Committee on Banking and Currency Proposed amendment, resolution of Executive Committee of FAC in opposition to, copies sent to 5/21 Messrs. Tobey, Wiggins, and Hanl http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1119 1119 1738 961 781 1861 2122 2228 1123 1058 1725 1768 1664 1951 1902 596 755 828 4P0rts on bills: (continued) 11. R. 4488, to amend Servicemen's Readjustment Act of 1944, Board not in favor of enactment, advice 1/6 to Bureau of the Budget Proposed amendment to authorize Administrator of Veterans' Affairs to charter and supervise "veterans' homestead associations", Board opposed to enactment, letter to Hon. Edith 4/19 Nourse Rogers R. 4790, to reduce individual income tax payments and for other purposes, request from Bureau of the Budget for report, letter opposing general reduction of taxes at present to be revised and resubmitted to Board 3/30 To reduce individual income tax payments and for other purposes, hoard opposed to enactment, re3/31 port to Bureau of the Budget of of Board Bureau Act of requested by views 1949, Housing the Budget, matter to be considered at 12/31 meeting next week Finance Home and Housing prepared by Housing aid, bill Agency to create secondary mortgage market, Board opposed to, Secretary to advise Bur2/13 eau of the Budget 2126, to amend FRAct to provide for special reserve plan, report postponed pending determination of 2/6 consideration to be given to bill active S. 2287, to amend RFC Act, no objection to, advice to Senator 4/5 Buck S. 2317 and S. 866, housing legislation, letter to Senator Tobey, Chairman, Senate Committee on Banking 4/2 and Currency, re undesirable features S. 2526, to remove limitation upon maximum deposit insured by FDIC, Board opposed to enactment, advice 5/4 to Senator Tobey Board opposed to enactment, advice to Bureau of the Bud7/2 get 8. 2564, to exempt securities issued by International Bank for Reconstruction and Development from Securities Act of 1933, Securities Exchange Act of 1934, and Section 5136 of revised Statutes, Board in favor of enactment, advice to Mr. Tobey, Chairman of Senate Banking and Currency Committee, and to Mr. .rrolverton, Chairman of House Interstate and 5/6 Commerce Committee Foreign S. '790, to provide secondary market for mortgages to aid in financing of housing construction, considered undesirable, Secretary to advise 6/29 Bureau of the Budget http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 31'; Pages 24 606 481 488 2261 175 157 538 499 702 1080 712 1060 314 Pages Rep on bills: (continued) S. 2817, to amend subsections (s) and (y) of section 1213 of FRAct, Board not in favor of enactment, report to Chairman Tobey of Senate Banking and Currency Committee S. 2842, to authorize national banks to convert into and consolidate with btate banks, no objection to enactment, advice to Chairman Tobey of Banking and Currency Committee of Senate lieserve and central reserve cities: Classification, reply to letter from Mr. C. F. Burton re publication in :Zederal Register C"o • ssification and continuance of, stAement to be published in Federal Register, advice to FRBanks Cla sification of, statement for publication in FRBulletin ssification clas periods for banks, changes proposed, staff to prepare report and draft of amendment to Regulation D Dubuque, Iowa, classification and continuance as reserve city Galveston and Vaco, Texas, documents requesting continuance of reserve city status, satisfactory Classification and continuance as reserve city and. Rapids, Michigan, continuance of reserve city status, advice requested re request from member banks tr. Designation as reserve city terminated 4ansas City, Kansas, classification and continuance as reserve city Nati -onal City (National Stock Yards), Illinois, classification as reserve city, effective March 1, 1948, advice to FRBanks °gden, Utah, continuance of reserve city status, advice requested re request from member banks Designation as reserve city terminated Qria, Illinois, classification and continuance as reserve city Discontinuance of designation requested, question not to be opened at this time, Mr. Young at FRBank of Chicago to be advised Puebi -"), Colorado, classification and continuance as reserve city Res el.ve computation periods, proposal of FRBank of Chicago for changing, action not appropriate at present time Re Serve requirements, increase discussed, action deferred Letter from Mr. Stevens of FRBank of New York re action, to be considered further and Mr. Stevens to be invited to meet with Board for discussion http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/18 976 6/14 950 1/16 83 2/20 2/25 248 255 10/12 1740 2/20 250 2/10 2/20 165 250 2/17 2/20 219 249 2/20 250 2/20 249 2/17 2/20 220 249 2/20 250 12/6 2064 2/20 250 2/19 5/25 242 835 6/22 985 Reg-erve and central reserve cities: (continued) Reserve requirements: (continued) Letter to Chairmen to correct wrong impressions re 6/25 action not to be sent drafts prepare to Thurston Messrs. Carpenter, Vest, and 6/25 of letter to Mr. Stevens re action as continuance and . St Joseph, Missouri, classification 2/20 reserve city Spokane, Washington, continuance of reserve city status, advice requested re request from member 2/17 banks 2 /20 terminated Designation as reserve city Toledo, Ohio, classification and continuance as reserve 2/20 city Topeka, as reserve continuance and ion Kansas, classificat 2/20 city Co w and Galveston, documents requesting continuance of 2/10 reserve city status, satisfactory Classification and continuances as reserve city 2/20 /16 1 of ion classificat on Burton Mr. shington, D. C., reply to , Rese oard Club: Christmas Party to be postponed, Club party to be held at 12/7 later date in cafeteria Ten,,4 -“-Ls courts, Board to restore surface and maintain courts and equipment, Club to continue supervision 5/7 re City Bankers Association: (See Association of Reserve " A R••StUr... City Bankers) Almeda State Bank, Houston, Texas, permission granted to maintain same reserves as banks not in reserve or central reserve cities, upon admission 9/28 to membership in FRSystem AMerican granted Texas, Dallas, National Bank of Oak Cliff, permission to maintain same reserves as banks outside central reserve and reserve 6/24 cities kaor procedure securities, tization of premiums on Government to set up reserves to provide for rapid, 3/15 comments of FRBanks requested Procedure to set up reserve to provide for rapid, action to be deferred until discussion at Presi3/24 dents Conference to deal with problem discussion in connection with emergency legislation to be drafted 4/14 by National Security Resources Board lthority question of asking Congress for increased, no decision reached, statement at FAC meeting 11/16 84cl debts on loans, changes in reporting on condition report form FR 105 and earnings and dividends report form FR 107 approved, Division of Bank Operations authorized to discuss proposed revisions with Executive Committee of Association of State Bank Supervisors and to agree to minor changes 4/13 315 Pages 1040 1043 250 220 249 250 250 165 250 83 2068 731 1625 1020 369 442 A'thority http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 580 1916 575 Rese ryes: (continued) Bad debts on loans: (continued) Changes in condition and earnings and dividend report forms approved, advice to FRBanks 5/13 CamPaign to Publicize nature and purposes of bank, reasons for subjecting nonmember banks to System reserve requirements, Presidents Conference Committee on Bank and Public Relations to work with Messrs. Evans and Thurston on matter and to be discussed further at next Presidents Conference meeting with Board 10/5 Ceiling plan for requirements, Dr. Goldenweiser invited to discuss with Board on Dec. 17 11/22 Central reserve city banks, statement to be published in FRBulletin 1/27 Statement to be published in FRBulletin 6/2 Reserve position and holdings of Government securities, memo of Mr. Thomas re 7/23 Centr41 Trust Company, Cincinnati, Ohio, method of reporting in reports of condition and earnings 10/15 Chardo , n Savings Bank Company, Chardon, Ohio, penalty for deficiency waived 10/19 Chic ago banks, option of selecting different reserve computation periods suggested by, Board not in favor of, letter to Mr. Young to be 2/13 revised Cla . . sslfication of reserve cities, statement to be published in March issue of FRBulletin 2/25 C0 mPutation periods of central reserve and reserve city banks, letter to Mr. Young, FRBank of 2/19 Chicago, re proposal for changing Changes proposed, staff to prepare report and draft of amendment to Regulation D 10/12 C°11tingent, addition to be made rather than to change existing 90% arrangement with Treasury, Treasury and FRBanks to be advised, and matter to be placed on agenda for next Presidents Conference 6/25 Addition to be made to, 90% arrangement with Treasury to be continued for present, advice to FRBanks, procedure to be discussed at next Presidents Conference 7/1 Mr. Bartelt informed of decision to set aside from 7/23 second quarter earnings of FRBanks Need for enlarging, discussion at Presidents Conference, matter to be discussed further by Board 10/5 Establishment of interest rate on FRnotes for three months' period ending September 30, 1948, to provide for increased deduction for 10/27 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 316 Pages 763 1688 1953 125 898 1150 1771 1786 178 255 242 1740 1030 1072 1156 1698 1822 317 Pages Res Tres: (continued) uontingent: (continued) Larger additions to, discussion of building up to amount of premiums on Government securities and transferring to surplus, matter to be discussed at next Presidents Con11/23 ference infor ABA by request Losses in trust departments, formation from reports of examination, letter to Mr. Stephenson re confiden11/18 tiality of be to continued to, funds transferring Arrangement for 12/1 through second quarter of next year Letter to Mr. Sproul re setting up of additional at end of year, comments re preference of Mr. Sproul for credit to surplus, copies 12/28 sent to FRBanks Objections of Mr. Sproul to accounting procedure for closing of books for year, discussion 12/31 but no change to be made in instructions Credit, measures to restrict use for further expansion of 2/2 bank, to be discussed at FAC meeting Deficiencies in member bank, computation for holiday 11/9 periods, advice to FRBanks FRBa,,,_ 4 of Cleveland, reserve against commitment on Section " 13b loan to Hanagan Brothers, Inc., 12/28 approved First National Bank, Lake Providence, Louisiana, penalty 12/27 for deficiency waived First National Bank of Port Neches, Texas, penalty for de10/1 ficiency waived rst of Boston International Corporation, Boston, Mass., condition report shows reserves not com7/28 puted on proper basis Gold, increase in ratio favored by FAC but decision to be deferred until organization of Congress 9/21 in 1949 liorbett, J. E., thesis on State bank reserve requirements and bank credit control, to be summarized 5/7 at meeting in near future ItIte1-.ro Bank and Trust Company, Prospect Park, Penna., 11/3 penalty for deficiency waived Le n.; and -1-slation, statement of Mr. McCabe before Banking Currency Committees, revision to change wording re inclusion of nonmember banks 8/2 in proposed legislation approved ilerChants National Bank, Chicago, Illinois, penalty for de11/23 ficiency waived Iktional Bank of Germantown and Trust Company, Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve 5/6 and reserve cities http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1964 1941 2020 2233 2258 140 1884 2232 2205 1668 1174 1563 724 1845 1188 1970 710 318 Pages Res erves: (continued) National Bank of Olney at Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve and reserve cities New York banks, question of computation period in connection with waiving penalties for deficiencies, Board not in favor of change, matter to be studied Ninth Bank and Trust Company, Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve and reserve cities North Broad National Bank of Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve and reserve cities North Philadelphia Trust Company, Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve and reserve cities Northern Bank, Milwaukee, Wisconsin, penalty for deficiency waived Northwestern National Bank in Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve and reserve cities Penalties for deficiencies in requirements, no change to be made in instructions re waiving, question of inequities resulting from computation of requirements to be studied further, letter to FRBank of Chicago to be revised Rules for waiving, definition of "deposits", advice to FRBank of Minneapolis °Posals, tests to determine effects on individual banks ' 131 to provide information to present at hearings of Joint Committee on Economic Report, advice to FRBanks Requirements of member banks in central reserve cities, increase in, discussion, Mr. Thomas to prepare memo re Treasury position of central reserve city banks for first quarter of 1948 Discussion in connection with prospective changes in Reserve Bank credit, matter to be considered again Increase from 20 per cent to 22 per cent approved Additional power not to be asked by Board, recommendation of FAC discussed Increase of 2 per cent not to be withdrawn, recommendation of FAC discussed Not to be increased, recommendation of FAC discussed http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5/6 710 2/13 178 3/29 476 5/6 710 5/6 710 6/9 927 5/6 710 2/13 176 2/26 257 3/18 384 1/6 15 1/9 1/23 38 107 2/17 198 2/17 2/17 198 198 Res erves: (continued) Requirements: (continued) Increase considered in view of proposed world aid and military expenditures, discussion at suggestion of Mr. Evans, matter to be considered again at meeting after middle of April banks, suggestions of Chairmen requested by Commercial Chairman McCabe before hearings on monetary controls Increase favored by Mr. Evans, discussion of memo prepared in Division of Research and Statistics, matter to be considered again at meeting on May 4 FAC expressed at meeting with Board in of Opposition discussion of means to counteract inflationary pressures that might be created by new defense proposals Memorandum of Mr. Thomas, question of increase to be placed on docket for consideration at meeting on May 25, 1948 Proposal of System Research Committee on Banking and Credit Policy for uniform, special meeting to be held for discussion Uniform, Mr. Bopp to talk with Mr. Williams re presentation of plan at Presidents Conference, Messrs. Thomas and Young to attend Conference if desired Statement of Chairman McCabe on study sent to Senator Taft, Chairman of Joint Committee on Economic Report, at request of Dr. Hardy Proposal for uniform, Messrs. Thomas, Riefler, and Bopp to testify before Joint Committee on Economic Report on Increase, discussion of timing of action, more information to be obtained and action to be deferred until next meeting on May 26 Question to be considered at meeting on May 27, 1948 Discussion, meeting to be held at White Sulphur Springs to make decision concerning action, Chairman McCabe to be advised Meeting at White Sulphur Springs to discuss, matter to be considered further Further discussion at White Sulphur Springs, meeting to be held in Washington to act on matter, Chairman McCabe to be advised Increase for member banks in central reserve 'ties from 22 per cent to 24 per cent approved after discussion of necessity and timing letter to Chairmen to correct false imof Discussion pressions in press statements, Mr. Clayton to prepare second draft for consideration http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 319 Pages 3/30 478 4/26 649 4/23 625 4/27 662 5/14 780 5/7 723 5/10 741 5/21 810 5/24 830 5/25 5/26 835 855 5/27 858 5/29 877 5/30 880 6/1 888 6/22 982 320 Pages Reserves: (continued) Requirements: (continued) Letter from Mr. Stevens of FRBank of New York re action, to be considered further and Mr. Stevens to be invited to meet with 6/22 Board for discussion imfalse correct to Chairmen Discussion of letter to pressions in press statements, Mr. Clayton to prepare second draft of letter 6/22 for consideration re wrong impressions correct to Letter to Chairmen 6/25 action not to be sent to prepare drafts Thurston and Vest, Messrs. Carpenter, 6/25 of letter to Mr. Stevens re action Drafts of replies to Mr. Stevens re action discussed, matter to be discussed with Mr. Stevens in 7/6 Washington Reasons for not submitting to directors of FRBanks dis7/13 cussed with Mr. Stevens Action to be deferred until response from Treasury to anti-inflation program outlined in letter 7/23 from Chairman of FOMC to Secretary Snyder reserve central of earnings to increase p of Relationshi 7/23 city banks, memo of Mr. Thomas 7/23 Views of directors of research at FRBanks Mr. Thomas to attend meeting at White House and to make statement of Board's recommendation re 7/23 authority for increase for authority Board recommend to bill ion Anti-inflat Increase, discussion of authorization for 7/27 commercial banks also Draft of memorandum to be prepared for use in testimony 7/27 on bank reserve proposal 7/27 To be considered at meeting on August 6 Statement of Mr. McCabe before Senate Banking and Currency Committee approved, ratified, and 7/29 confirmed in banks nonmember Authority to increase, inclusion of proposed legislation, Mr. Vest to assist 8/2 Mr. McKenna in drafting legislation give to Nonmember banks, draft of bill to be revised Board authority to increase requirements for member and nonmember banks with same flexibility now applicable to member banks, 8/3 Mr. Vest to submit copy to Mr. McKenna rebe to bill Authority of Board to increase, draft of vised, Mr. Vest to deliver copy to Mr. McKenna, Mr. Clayton to transmit copies to Mr. Hospelhorn, end copies to be sent to 8/4 counsel of FRBanks for suggestions discusbanks, Authority of Board to increase for member sion of request of Mr. Monroney for statement by Board, not to be issued until after 8/5 passage of legislation http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 985 982 1040 1043 1083 1112 1149 1150 1152 1154 1166 1167 1169 1177 1200 1216 1221 1228 Reserves (continued) Requirements: (continued) Gold against deposits and FRnotes, Board not to issue statement re proposed legislation until after passage of, discussion of request of Representative Monroney Member banks in central reserve cities, increase in, action to be deferred until outcome of pending legislation re additional Board authority Question of increasing, Mr. Young to prepare material to be used at Board meeting in discussion Increase suggested in Treasury financing program letter, matter to be considered after Labor Day, discussion of effective date, question to be on docket for September 7 Further increase in member bank, to be discussed after Labor Day, advice to Secretary of the Treasury Gold against deposits and FRnotes, proposal to restore ratio of 35 per cent and 40 per cent respectively, topic for discussion at meeting of FAG Motion to be made on September 7 by Mr. Vardaman to increase, discussion, memoranda re to be sent to all Board members for information Memorandum on technical considerations governing timing of action re increase prepared by Messrs. Thomas, Young, and Horbett, discussed in connection with proposed increase Memoranda on position of central reserve city, reserve city, and country banks and on current monetary developments prepared in Division of Research and Statistics, discussed in connection with proposed increase Increase, motion by Mr. Draper re, discussion, not to be voted on until after meeting of executive committee of FCMC Increase for member banks approved Amendment to Regulation D and supplement approved Effect on membership in FRSystem, to be on agenda for Presidents Conference, advice to Mr. Davis FAG statement re effect, not in favor of as measure for credit control Board's response to FAG statement re increase Statement by Mr. Burgess at FAC meeting re increasing, discussion Nonmember banks, discussion at Presidents Conference, matter to be considered further Effect of increase on membership in FRSystem, discussion at Presidents Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 321 Pages 8/5 1228 8/6 1235 8/6 1243 8/10 1256 8/11 1265 8/18 1324 8/24 1371 9/7 1448 9/7 1/48 9/7 9/8 9/8 1454 9/16 1524 9/21 9/21 1563 1567 9/21 1573 1462 1465 10/5 1688 10/5 1693 322 Pages Rese rves: (continued) Requirements: (continued) Increase in member bank, question to be placed on docket for meeting of November 19, Division of Research and Statistics to 10/22 submit memorandum re before meeting to discuss asked be Ceiling plan, Mr. Goldenweiser to 11/17 at meeting of Board until meetpostponed Further increase, question to be ing on November 23 at request of Mr. 11/5 Szymczak FAC, statement by disliked Increase for member banks, 11/16 at meeting with Board of increases, discussion Considerations re further memorandum of Mr. Thomas, matter to be 11/23 considered further authority made concerning be to proposals Legislative to increase, advice to Bureau of the 11/30 Budget State re President to letter in statement in, Increase 12/1 of Union message applicability of Conference Presidents at Discussion 12/1 to nonmember banks in future Effects on member banks, discussion at Presidents Conference, opposition to further in12/1 creases expressed question, of discussion Increase for member banks, 12/3 matter to be considered again paragraph banks, insured all for Authority to increase re need and statement of legislation to be prepared for submission to Chairman Nourse for inclusion in Economic Report 12/14 of President Paragraph for inclusion in State of the Union Message 12/17 and statement re for President approved Paragraph for inclusion in Economic Report of Presi12/17 dent approved Increase not to be made at present time but to be considered again if Treasury unwilling to adjust balances at FRBanks to continue policy of keeping pressure on member bank 12/17 reserves Ceiling plan proposed by Mr. Goldenweiser, outline of background of current problem re, summary of remarks by Mr. Goldenweiser placed in 12/17 files, no objection to distribution Proposals for legislation, request of Council of Economic Advisers for drafts, matter to 12/21 be discussed further Union Discussion of three statements for State of the Message and Economic Report, question of omitting sentence re applicability to all insured banks, Chairman McCabe to discuss 12/22 matter with Secretary of the Treasury http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1804 1931 1860 1908 1967 1998 2006 2012 2024 2033 2116 2146 2148 2149 2151 2170 2177 Res •fr, "es: (continued) Requirements: (continued) Legislation re, copies of draft of bill to be sent to Board members and matter to be discussed at next meeting, in order to submit draft 12/22 to Council of Economic Advisers and Union message Statements for inclusion in State of Economic Report, presented by Chairman McCabe to Dr. Nourse at committee meeting, matter to be discussed by Chairman McCabe, 12/23 Dr. Nourse, and Secretary Snyder all insured and banks Discussion of authority covering of payment of interest on member bank reserve balances, members of Board to review list of questions in connection with draft of bill and matter to be considered further 12/23 by staff be to bill, omnibus in be included Legislation not to presented as separate bill to Congress after informal discussion with Chairmen of House and Senate Banking and Currency Com12/23 mittees, Dr. Nourse to be advised re questions on views staff of Legislation, memorandum bill, discussion by staff members and Board, enforcement problems to be studied further by staff and another report to be submitted after consultation with Messrs. 12/28 Vardaman and Clayton request bill, omnibus in included be Legislation not to 12/28 to be made at proper time insured all to applicability of discussion Legislation, banks, special reserve plan, and payment of interest on supplemental reserve balances, Legal Division to prepare alterna12/31 tive drafts of bills Chairman McCabe to discuss proposals with Chairmen of Banking and Currency Committees, payment of interest to be referred to on tenta12/31 tive basis Legislative proposals to be discussed by Chairman McCabe with Mr. Woollen, President of ABA 12/31 Second National Bank of Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve and reserve 5/6 cities Se rltY Bank and Trust Company of Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve 5/6 and reserve cities 8°1-1th - Philadelphia National Bank of Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve 5/6 and reserve cities http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 323 Pages 2179 2190 2191 2191 2219 2225 2247 2255 2258 710 710 710 324 Pages Reser (continued) SPecial reserve plan, S. 2126 to amend FRAct to provide for, report postponed pending determination of active consideration to be given to bill Adoption not to be urged, statement of Chairman Eccles at FAG meeting , Probable increase in need for, mentioned by Mr. Thomas St Valley State Bank, Afton, Wyoming, penalty for deficiency waived Statement to be published in FRBulletin Ti°ga National Bank and Trust Company of Philadelphia, Pa., granted permission to maintain same reserves as banks outside central reserve and reserve cities wachovia Bank and Trust Company of Winston-Salem, North Carolina, reserve requirements considered inequitable, question to be studied further signations: &son, Mrs. Marylou, secretary to Mr. Knapp, accepted chison, John W., laborer, accepted nOs) Luis F. clerk, accepted t?an) Robert W., economist, accepted .2-111ngsley, Mrs. Catherine B., charwoman, accepted '18sett, Alvin, cook, accepted B1 Cafeteria helper, accepted B,and, W. T., Director at Jacksonville Branch, accepted B; wes) Elizabeth A., file clerk, accepted Mrs. Helen, substitute nurse, accepted OWn, Bonnar, Assistant Director of Division of Research "la) and Statistics, to work with Mr. Leonard on Regulation W until resignation, advice to FRBanks Br Accepted Weir M., economist, accepted ' - ek) Mrs. Ruth, page, accepted, reimbursement to be made for overdrawn annual leave CeStim. co°°m Mrs. Caroline Hamill, economist, accepted Peland, Morris, resignation to be effective at end of year, recommendation to be made for services on part-time consulting basis SPecial Consultant, accepted c?rehill, John B., research assistant, accepted cor abaugh, Charles D., Jr., guard, accepted fren) Mrs. Gertrude M., clerk-stenographer in Division of Bank Operations, accepted 00111co v.c) Mrs. Edith, page, accepted °Ile) Mrs. Melba M., clerk in Division of Research and Statistics, accepted Coo, cravl', Sophia, research assistant, accepted Betty, clerk-typist, accepted r http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/6 157 2/17 3/19 212 391 5/27 8/26 873 1391 5/6 710 2/13 177 5/20 8/16 9/1 8/26 3/23 1/2 12/15 1/16 5/3 12/10 807 1286 1416 1390 430 3 2129 81 696 2101 9/10 10/11 6/18 1478 1733 970 9/9 5/14 1472 786 10/12 12/21 7/12 2/18 1746 2171 1105 222 3/4 5/26 303 856 2/12 5/6 6/14 170 708 948 Re . siaTiations: (continued) Davis, Mrs. Elsie Q., file clerk, accepted Eager, Leonard P., Jr., Asst. FRExaminer, accepted Elliott, Lois, page, accepted Fischer, Charles E., Assistant FRExaminer, accepted Ford, Mrs. Dorothy H., clerk, accepted Garrison, Doris, clerk, accepted Ge rschenkron, Alexander, Chief of Foreign Areas Section, accepted Gill, Mrs. Katie, cafeterial helper, termination of employment approved, special payment to be made Glover, Mrs. Hazel M., elevator operator, accepted Glltz, Mrs. Lillian Schiller, clerk-stenographer in Division of Research and Statistics, accepted !!agstrom, Mrs. Katherine J., cafeterial helper, accepted !!alvorsen, Ruth, clerk, accepted C. R., economist, accepted Ithausen, Duncan McC., economist, accepted °wan, C. K., Asst. FRExaminer, accepted, deduction to be made for overdrawn sick leave, and separation allowance approved Jeffrjes Ardith E., clerk-typist, accepted ' °Iinson, Anne W., clerk in Division of Research and Statistics, accepted j°huson, Hubert D., Counsel at FRBank of Dallas, accepted, employment on part-time and month-tomonth basis pending selection of successor and retainer fee approved Dorothy J., clerk-stenographer, accepted , Otto G., research assistant, accepted Kel k snson, Mrs. Dora A., research assistant, accepted ' .11111eY, Theodosia M., stenographer in Office of Mr. Szymczak, accepted Krlar, vP, J. Burke, Assistant Director of Division of Research and Statistics, accepted Kunz_ _ vy Mrs. Margaret M., draftsman, accepted La' La eY, Mrs. Beverley C., clerk-typist, accepted ey Charles S., director of Jacksonville Branch, accepted McCabe,, Thomas B., Chairman of FRBank of Philadelphia, accepted, to become member of Board of Governors Meoori aid, Mary E., clerk-stenographer, accepted her son, Mrs. Vivian D., page, accepted Ni3 sery E. Katharine, secretary to Mr. Hammond, accepted °fly Mrs. Florence Guild, economist, accepted or; d°ff, Sydnor C., painter, accepted e ivl:rish, Sara Josephine, clerk-typist, accepted poiletier, Mrs. Ludmila G., file clerk, accepted 4-ard, W. B., Vice President at Memphis Branch, salary approved up to date of resignation r Z http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 325 Pages 8/16 5/19 9/9 3/17 10/29 5/6 1286 800 1473 376 1834 709 8/6 1246 1/30 12/20 137 2157 1/2 10/4 9/9 6/7 9/16 1673 1471 902 1513 2/19 8/25 236 1381 3/3 299 3/9 5/3 10/27 5/18 334 696 1825 798 3/29 473 5/24 10/20 12/20 7/8 831 1790 2157 1097 4/15 8/19 2/17 9/1 5/6 2/27 5/18 5/11 587 1334 219 1416 708 262 798 753 6/25 1027 3 326 Pages Resi Enations: (continued) Ratliff, Lee, laborer, accepted Reid, Mrs. Joyce S., clerk-stenographer, accepted Rennie, Robert A., economist, accepted &des, Mrs. Dorothy S., clerk-stenographer, accepted alChards, Louise, clerk-typist, accepted Robertson, Mrs. Naomi, cafeteria helper, accepted Sohoenhoff, Robert J., Assistant FRExaminer, accepted 8eagle, Mrs. Mary S., telegraph operator, accepted SearoY, Martha H., file clerk, accepted pierrard, Alfred, economist, accepted 6moot, William E., guard, accepted StaleY, Mrs. Enid W., printing clerk, accepted Stettinius, Edward R., Jr., Class C director at FRBank of Richmond, to be accepted effective December 31 Stettner, Walter F., economist, accepted s Stohlman, Mae J., clerk-stenographer, accepted Rosco, director at Louisville Branch, accepted ; q1livan, Mary W., file clerk, accepted 4Ylor, Harry C., cafeteria helper, application for disability retirement, separation from service approved with special payment as separation allowance Te mpleton, Loverne, stenographer in Office of Mr. Szymczak, accepted ; 111 :1kelenberg, Mrs. Joan G., clerk-typist, accepted w Cars, Mary M., clerk-stenographer, accepted wnlace, Gladys W., file clerk, accepted 'LLttemore, Laurence F., President of FRBank of Boston, discussion of possible, Board not to take initiative in consideration of successor Wilk' inson, Mary R., clerk, accepted George, Asst. FRExaminer, accepted 14 -L-Liams, Mrs. Hazel, file clerk, accepted 11liame, Mrs. Ruth M., stenographer, accepted, reimbursement to be made for overdrawn annual and sick leave hierican Industrial Bankers Association, opposition to proposed amendments to Regulation W re _enmoderlization and repair credits and forceability of contracts, reply to Mr. Bone Ass essment on FRBanks for expenses of Board: For last half of 1948 Ba For first half of 1949 Ilk holding company bill, FAG to consider sending resolution in favor of to banking and currency committees and to Senator Taft http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3/18 2/3 9/23 6/16 8/12 10/29 3/15 9/27 6/11 8/30 6/4 6/11 383 142 1601 956 1272 1834 365 1621 940 1400 900 940 12/17 8/17 7/21 4/26 8/16 2150 1320 1140 652 1286 3/18 383 9/24 4/8 11/10 2/25 1614 559 1885 252 8/6 6/18 4/30 12/14 1243 970 692 2119 9/1 1416 12/15 2133 6/17 12/31 965 2263 2/17 215 Re 'LLutions: (continued) PAC, in opposition to proposed amendment to H. R. 2799, copies sent to Messrs. Tobey, Wiggins, 5/21 and Hanl Bank holding company legislation, resolutions approving enactment of S. 829 with amendments re9/21 affirmed, at meeting with Board H°11sing legislation, S. 866, resolution of FAC sent to Chairman Tobey, Senate Banking and Currency Committee, and Chairmen Wolcott and Taft, House Banking and Currency Committee 5/7 Real estate financing, resolution of FAG to send to Congress requested by Mr. Szymczak, Council to system: meet for further consideration of matter 4/27 Retirement Board Plan, adoption of resolution modifying provisions of paragraph (5) re withdrawal of partici3/23 pants' contributions 8* 829, bank holding company bill, resolution adopted by FAG favoring enactment approved, copies to be sent to Chairmen and members of Senate and House Banking and Currency Committees 2/19 and to Senator Taft Retail 9/22 4ta,1 redit Survey, copy sent to M. S. Rukeyser 12/14 credit survey for 1948, continuation approved A elllent system: ' 4110wances of retired employees of FRBanks, authorization to increase, draft of letter to FRBanks 12/23 to be revised and resubmitted to Board Benefits, study of, report of Presidents Conference Committee on Personnel received, procedure re, interim reports to be made to Chairman 10/5 of Chairmen's Committee 130a•r.,3 of 5/14 trustees, designation of Mr. Draper as member d Plan, incorporation of changes resulting from amendment to Civil Service Retirement Act and resolution adopting modification of provisions of paragraph (5) re withdrawal of contributions approved, advice to Mr. 3/23 Rounds 5/27 Revision, payment to cover cost approved 9/24 0_ working rules approved, advice to Mrf,,Frank untributions: Cincinnati Branch for Fiscal Agency employees on leave without pay, exceptions by GAO to charges covering, statement sent to FRBank of 5/12 Cleveland Hollingsworth, Maudeta Pearl, employee of Portland Branch, separation because of disability, 7/16 Board to consider amount recommended Schuster, Marion, claim by FRBank of Cleveland for reimbursement, further information requested 5/12 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 327 Pages 828 1585 739 677 407 235 1598 2127 2138 1683 775 405 866 1620 759 1127 760 328 Pages Retirement system: (continued) Disability retirements: Hollingsworth, Maudeta Pearl, employee of Portland Branch, Board to consider separation con7/16 tribution Involuntary separation, benefits to be granted in 2/2 cases, advice to FRBank of San Francisco Draper, Ernest G., designation as member of board of 5/14 trustees FRBank officers and employees, retention in service after age 65, discussion of new plan for retirement status, at Presidents Conference, each case to be considered on individual merits and no change to be made in exist2/27 ing policy I nvestment policy and procedure, changes to be discussed at meeting of Board of Trustees and then to be considered by Presidents Conference 3/10 and Board Changes, study by Presidents Conference Special Committee not completed, decision to be post5/21 poned until next joint meeting Discussion of changes, Mr. Draper to discuss matter with Chairmen's Committee on Retirement System 9/21 when in Washington Matter to be discussed with Presidents and then letter re alternatives to be sent to Chairmen's 10/1 Conference Committee Discussion at Presidents Conference of legal opinion received from FRBank of Boston re responsibility of Trustees, question to be referred 10/5 to Mr. Vest for comment of copy re, Effect of law of Massachusetts on proposal opinion of General Counsel sent to Messrs. 10/20 Leedy and Brainard 14eetings of Board of Trustees and committees, tentative program outlined in letter from Mr. Davis, 3/23 discussion Merabership: 4/15 pa Payne, Mrs. Della, cafeteria helper, to be included in Yalents: 5/27 Board Plan, payment to cover cost of revision approved Buescher, Ernest L., FRBank of Cleveland, payment 3/22 approved for of FRBank Climent, Mrs. Julia, supplemental payment by 12/29 Kansas City approved Hollingsworth, Maudeta Pearl, FRBank of San Francisco, 7/26 special payment approved Ret er'tions: FRBank officers and employees, exceptional cases to be in retirement status after 90 days and compensation not to be more than salary less retirement benefits, comments of FRBanks requested and matter to be discussed at 1/6 Presidents Conference http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1127 138 775 278 348 822 1546 1659 1683 1792 403 587 866 396 2238 1165 25 329 Pages Ret rement system: (continued) Retentions: (continued) Service after age 65, discussion at meeting with Presidents Stewart, Virgil A., FRBank of Kansas City, approved until June 30, 1949 Tyner, E. P., FRBank of Kansas City, approved until June 30, 1949 Re tirements: Dillard, J. H., Vice President at FRBank of Chicago, to be retired at age 65 on September 17 Fitzgerald, Frances S., application for retirement effective September 1, noted McIlhenny, C. A., Vice President at FRBank of Philadelphia, salary approved until retirement H., to be effective March 1, 1949 Willis, Mitchell, Parry, Carl E., application for optional retirement filed Smead, E. L., Director of Division of Bank Operations, retirement to be effective January 1, 1949 Application for optional noted Stannard, Albert M., FRBank of Kansas City, salary approved until retirement at end of year Taylor, Harry C., cafeteria helper, application for disability retirement, separation from service approved with special payment as separation allowance Towle, R. F., Helena Branch, successor upon retirement, discussion with Mr. Peyton of appointment and salary for Mr. Groth Va.n Fossen, J. h., retirement to be effective on December 31, 1948 Retention on part-time basis as consultant after retirement and fee for one year approved, no credit to be received under retirement system 'eTatson, Mrs. Mary H., file clerk, effective July 1, 1948, noted Se vorration allowance, provision of law relating to ntarY contributions provided under new law '"(31.781 and children's benefits under new law kair: 2/27 278 6/17 962 6/17 962 3/22 397 8/10 1262 4/23 11/10 638 1885 3/8 329 8/17 12/7 1317 2084 8/24 1376 3/18 383 8/26 1388 10/28 1829 12/8 2091 6/16 3/23 955 409 3/23 3/23 412 410 Regulation W, registration statements from salesmen, such certificates not to be issued until further 10/12 advice, telegram to FRBanks 11Bank of Chicago authorized to send letter to Mr. N. E. Hutchens, Counsel of Martin-Parry Corpora10/21 tion Corporation, see Martin-Parry Corporation,successor to 11/4 r, C S employee harles T., reply to request for solicitation of Sustainfor donations to National Symphony ing Fund Campaign 1/27 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1750 1796 1852 124 330 Pages ReM°1ds, Lewis B., Clayton Act proceedings by Board, confidentiality of, no record at present to 9/2 send to, advice re Richards, C. A., Interchemical Corporation, survey by FRBank of New York re export bills and letters of credit outstanding, reply to letter re 7/20 value of information Rizor, D. A., Regulation W, reply to inquiry re delivery in 10/12 anticipation of instalment sale Roberts, letter concernto reply William A., Roberts & McInnis, ing applicability of Regulation W to tele9/7 vision sets 11(Ibins°n, James D., President, Trust Company of Georgia Associates, present at meeting to discuss pro9/10 posed bank company legislation 'Representative Edith Murse, H. R. 5120, to amend Servicemen's Readjustment Act of 1944, 3/2 Board not in favor of enactment, advice to H. R. 4488, proposed amendment to authorize Administrator of Veterans' Affairs to charter and supervise "veterans' homestead associations", 4/19 Board opposed to enactment, letter sent to RilkeYser, M. S., Regulation W, reply to inouiry re exclusion of jewelry from and also enclosing retail 9/22 credit survey-1947 44keeP1ng. PRBank ;f Cleveland, request from Cleveland Trust Company that Treasury bills be held in safekeeping for Bankers Trust Company, New York, FRBank to use own judgment re, matter to be placed 8/31 on agenda for Presidents Conference FRBank to use own judgment re, matter to be discussed at 9/21 Presidents Conference Treasury bills sold by member bank to member bank of another FITistrict under repurchase agreement, no objection to safekeeping by FRT3ank of district in which selling member bank is located, discussion at Presidents Conference]-0/5 -41,1es: 1435 1138 1752 1460 1484 296 606 1598 1405 1560 1682 -“, BoaA of Governors and staff, increase to be recomended by Chairmen's Conference committee to Congress, through FAC, Board not in favor of, executive committee of Chairmen's Conference to 1/9 be advised Boa, 1 members, letter to Bureau of the Budget on amount in " 12/7 proposed legislation 1.0 Branch, employees, minimum and maximum salaries 11/24 approved Com pensation of heads and assistant heads of executive departments and other officers of Federal Government, bill to increase, draft of 12/6 letter re to be revised http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 41 2077 1971 2063 Sala 4 r.Les: (continued) Compensation of heads and assistant heads: (continued) Draft of bill to increase, letter expressing views of 12/7 Board sent to Bureau of the Budget 12etroit Branch, employees, approved 2/20 13-ligents staff, recommendations for changes to be made by FRAgent, advice to Mr. Neely, FRBank of 8/18 Atlanta FRBank of 5/25 approved Atlanta, officers, FRBank of Boston: 2/5 Employees, approved part-time 11 for approved Salaries above maximums 2/5 employees in cafeteria 5/7 Officers, approved Senior officers near retirement age, question of increases discussed, but no action taken 9/7 as to policy FRBank 2/20 of Chicago, employees, approved /wank of Cleveland: Employees, payment of shift differential for Grades I 10/12 through VIII approved Ft ,Officers, approved 4/23 5/25 approved : 11 " 51111( of Dallas, officers, '‘upank of Kansas City, nine employees in Building Department, 4/26 approved 6 /16 Officers, approved and minimum in increase plan, Personnel classification 6/25 maximum salaries approved respective for approved maximum and Employees, minimum 12/16 grades 5/25 PRBank of Minneapolis, officers, approved FltBank of New York, salary policy and salaries of officers, to be discussed by Committee of Directors on Welfare of Staff with Personnel Committee of Board and other Board members on 1/30 March 5 Committee of Directors on Welfare meeting with Personnel Committee of Board to discuss policies postponed because of delay in confirmation of 3/5 Mr. McCabe 3/8 EmPloyees, approved Officers, approved, Committee of Directors on Welfare of Staff invited to come to Washington to dis4/7 cuss salary policy at future date Committee of Directors on Welfare of Staff, meeting with Board to discuss policy to be held on May 14, proposals to be considered at subsequent Board 5/7 meeting facers, $20,000 and above, to be considered by all 6/1 Board members, statement of Mr. Eccles re Officers below President and First Vice President, matter to be reviewed with Mr. Stevens and Mr. Sproul or Mr. Rounds in Washington when 6/25 convenient http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 331 Pages 2076 246 1324 842 149 149 736 1442 246 1750 638 844 653 958 1028 2138 841 132 306 329 549 725 892 1025 332 Pages salaries: (continued) PRBank of New York: (continued) Officers, elimination of Board approval for junior officers suggested, matter to be considered again when all Board members present 7/15 1118 Officers, approved 7/23 1159 Junior officers, proposed increases, consideration to be deferred until time of next annual review of officers' salaries 12/14 2120 President and First Vice President, increases not approved, Mr. Stevens to be advised 6/25 1025 Minimum and maximum salaries approved 11/24 1971 FRBank of Philadelphia: Employees, approved 305 3/4 Minimum and maximum salaries approved for respective grades 9/13 1494 Officers, approved 637 4/23 FRaank of Richmond: Employees, approved 2/20 246 Increase in minimum and maximum salaries under personnel classification plan approved 5/18 792 Officers, approved 6/14 949 A'Abank of St. Louis: Employees, approved 3/3 300 Officers, continuation at existing rates approved until consideration of recommended changes, informal advice of changes due from Banks 30 days prior to date due 6/1 881 6 Approved / 25 '1026 FRBank of San Francisco: Employees, minimum and maximum salaries approved for respective grades 9/30 1645 Officers, approved 4/23 639 FRBanks: Employees, above maximum and below minimum, procedure 12/3 for approval Examiners, relation to salaries paid by other agencies, to be placed on agenda for next Presidents' 12/6 Conference Officers: Balderston Report to be revised, Mr. Evans, as senior member of Personnel Committee to 1/9 work with Chairmen's Conference Committee Informal advice of changes due 30 days prior to 6/1 date due Junior officers at FRBanks, plan which would not require Board to pass on individual cases 7/15 discussed Procedure for considering, information to be sent to Board re in advance of time for formal 8/3 action, advice to FRBanks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2040 2053 41 881 1118 1218 333 Pages 841411-es: (continued) FRBanks: (continued) Officers: (continued) 12/3 Procedure for approval of Personnel classification plans, exceeding maximum of salary ranges under, discussion at Presidents Conference, cases to be referred to Board and to be considered on individual 5/21 basis at present International offices of other Government departments and agencies, survey of structure in relation to International Section of Board's hesearch Division requested by Mr. Knapp, memorandum referred to Personnel Committee 5/14 Staff of Board, to be increased in conformity with Postal Rate Revision and 5ederal Employees Salary 6/25 Act of 1948, if signed by President 12/3 New procedure for approving increases 'Ailon Army, solicitation of funds for, letter to Jesse M. 5/11 Donaldson on procedure for Sav4 4-4gs and loan shares, report on bill to reduce assessment 6/1 for insurance on Say.; '- 4gs banks: Bank holding company legislation, representatives not to attend meeting to discuss, but to express 7/6 later Schram, Emil, President of New York Stock Exchange, count of number of margin accounts at end of June 5/12 requested in letter to disSiam, of 8e°tt) James T., Economic Adviser to Government cussion of application of Bank of America 10/19 for branch in Siam Seeretary of State: '°0gota Conference, question of Board representation on United States Delegation, letter to 4/9 Secretary Marshall against, State York New by F°reign banks, discrimination extent of, information re legislation sent for forwarding to American Embassy at New 3/11 Delhi, India National Bank of Republic of Haiti, examination of, agreement to scope by Government in Haiti, advice re examining staff and arrangements 3/9 sent to ilippine Central Bank, Mr. Grove to assist in organization, 10/18 advice to Secretary Marshall 4cre tarY of Treasury: rtiCle in Washington Times Herald as to approval of branches 8/19 for Bank of America N. T. ,Sc S. A. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2040 816 778 1037 2036 756 882 1086 760 1779 566 357 343 1775 1325 334 Pages SecretarY of Treasury: (continued) Bogota Conference, Mr. Sproul requested to accompany Mr. Snyder as adviser, question of Board representation discussed, Mr. Szymczak 4/7 to have drafts of letters prepared States United on Question of Board representation Delegation, procedure for future requests for foreign missions suggested in letter 4/9 to Secretary Snyder Legi slation on reserve requirements as applying to all banks, 12/22 Mr. McCabe to discuss with mr. Snyder on foreign missions go to Requests for officers of FRBanks 4/7 should be submitted to Board Reserve requirements, proposed increase, Chairman McCabe to 9/7 discuss matter with Secretary Snyder Proposed increase, statement re made to Secretary 9/8 Snyder by Chairman McCabe Treasury disand October, September financing program for cussion of points in letter, draft of reply to be prepared by Mr. McCabe commenting on bill rate and increase in member bank re8/10 serve requirements Reply to letter re increasing of short-term rate on Treasury certificates, etc., approved by 8/11 executive committee of FOMC and Board -vii.a.ry s note: Address by Mr. Williams, cost of printing copies to be borne by FRBank of Philadelphia, no objection by Mr. Thurston if certain changes made in 10/19 Antitrust proceeding against Transamerica Corporation, reply to letter from Mr. Giannini approved by 8/3 Messrs. Eccles and Townsend 13a question conditions, nk capita1, adequacy under existing considered by Board not mentioned at meet2/17 ing of FAC because of lateness of hour Chairmen's Conference meeting at White Sulphur Springs) West Va., no objection by Mr. Shepard to proposed 5/7 attendance Condition Committee by discussion revision, s of membership, on Bank Supervision with Mr. Leonard, pro5/21 gram agreed upon Dining opposire Szymczak Mr. of rooms, private, statement 6/22 tion to present system of use /Division of Research and Statistics, organization changes 10/12 approved by Messrs. Clayton and Szymczak Eccles, M. S.) statement re inflationary situation before 4/2 Joint Committee on Economic Report Econolnic basis of Federal Reserve policy, staff committee of Messrs. Thurston, Morrill, Riefler, Thomas, Vest, and Carpenter appointed to draft 10/12 statement http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 553 568 2179 554 1/149 1462 1254 1265 1785 1211 217 720 818 988 1747 509 1744 335 Pages 'etary's note: (continued) Economic Report of President, paragraph re authority to increase reserve requirements and for regulation of consumer credit approved for inclusion in Erickson, Joseph A., appointment as President of FRBank of Boston, approval by Messrs. Eccles and Vardaman given by telephone Federal Loan Policy Committee, approval of letter by Mr. Draper and by Mr. Eccles if regulation of margin requirements and consumer credit excluded from FRnotes, establishment of interest rate for three months' period ending September 30, 1948, to provide for increased deduction for contingent reserves, no objection by Treasury R°ffman, Paul G., reappointment as Deputy Chairman at FRBank of Chicago not to be made in view of service as Administrator for ECA, but to continue to serve as class C director, appointment to be tendered to Mr. Lunding Hoover report prepared by Mr. Bach on Board on, Commissi for committee, extra copies received from Mr. Bowie, discussion of matter by Mr. Szymczak with Chairman McCabe, auestion of Board comment to be discussed by Mr. Szymczak with Mr. Riefler on August 30 R. 4790, to reduce individual income tax payments and for other purposes, letter to Bureau of the Budget opposing enactment delivered sing legislation, S. 2317 and amendments to S. 866, letter to Senator Tobey sent under date of April 5, 1948 Re gulation W, amendment to permit delivery of article in anticipation of instalment sale without down payment, proposed revision sent to FRBanks for comments Schmidt, Catherine, transferred to position of secretary to Mr. Riefler, unclassified position '2287, to amend RFC Act, report by Senate Banking and 8 Currency Committee, letter to Senator Tobey re statement in report concerning Federal Reserve lending authority sent as no change in situation after receipt of further information from Mr. L'Heureux 8. 2790, to provide secondary market for mortgages to aid in financing of housing construction, considered undesirable, advice to Budget Bureau, copy of Board's letter of April 5, 1948 sent to Mr. Neustadt http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/17 2148 11/5 1862 12/28 2219 10/27 1823 12/21 2168 8/26 1387 3/31 489 4/2 500 10/15 1766 6/25 1039 3/23 426 6/29 1062 336 Pages Secret m arY's note: (continued) Iransamerica Corporation, letter to Senator Tobey containing additional information requested delivered Transamerica Corporation case, reply to letter from Mr. Giannini questioning Board's authority to institute proceeding, approved after telephone discussion with Mr. Townsend and approval by Mr. Eccles, Mr. Townsend to tell Mr. Baldridge of letter at future date Transamerica Corporation, expansion, proposed letter to Comptroller, telephone discussion between Messrs. Clayton and Thurston, approval of Board's decision expressed by Mr. Clayton and redraft of letter transmitted by wire 3/29 471 8/3 1211 8/19 1332 CustodY receipts of city correspondent banks, acceptance 1/29 by FPBanks as collateral for loans '411.ties exchange administration: Bergen Trust Company, Jersey City, N. J., violations of RegulAion U, FDIC examiners to check carefully in future examinations for compliance 11/16 ench American Banking Corporation, termination of agree8/10 ment under Regulation T approved from, notes of ehauf Trailer Company, bank purchase compliance with Regulation U, reply to question of Mr. and Mrs. Hirschie Johnson 5/19 sent to Congressman Fisher 14) to ion contribut capital make an on registered stocks to firm, reply to FRBank of San Francisco re 5/10 applicability of Regulation U M4rgin accounts, New York Stock Exchange, count at end of June, information requested in letter to 5/12 Mr. Emil Schram Ma. • ligin requirements, reply to letter from Mr. Joseph L. 1/2 Smith 1/29 Platt Reduction in, reply to letter from Mr. Stanley K. Stock Reduction, reply to Mr. Besse re opinion of Boston 3/16 Exchange Reports of those met by liquidation, not necessary to keep for more than two-year period, advice 3/16 to Philadelphia Stock Exchange ana Changes in, advice to be given by Division of Research Statistics upon discontinuance of Division of 3/23 Security Loans, discussion of procedure Reply to inquiry from Mr. Alfred E. Frisbie re recent 5/5 opinion on Regulation T reForbes C. B. Mr. from letter to reply in, Reduction questing views of Chairman McCabe on present 6/22 75% requirements 7/7 re Reply to letter from Mr. Russell H. Baumgardner http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 128 1927 1263 802 749 760 4 129 371 372 418 705 989 1094 337 Pages .(ArItles exchange administration: (continued) ' Itirgin requirements: (continued) Reduction in, invitation to Chairman McCabe to attend meeting sponsored by Investors League, Inc. 8/2 New York City, to discuss, declined dewyork T to n Regulatio of lity applicabi Stock Exchange, transaction concerning purchase and sale of registered stocks in undermargined account, 9/24 reply to letter from FRBank of New York pubto be ruling account, NinetY-day rule in special cash lished in Federal Fegister, copies sent to 4/23 FRBanks Pacific Gas and Electric, unissued rights defined as unissued securities, subject to sections 3(h) and 3(d)(4) of Regulation T, but have no loan value under section 3(c), advice to 3/17 FRBank of San Francisco and T n Regulatio of 3(d)(3) section of lity APplicabi section 4(d)(2), advice to FRBank of San 3/22 Francisco Pilgtaation T, amendment to, questions from FRBank of New York re, reply to letter, enclosing ruling re substitutions in undermargined accounts to be published in FRBulletin and Federal Regis3/26 ter Sections 4(c) and 6(f), amendment proposed by Mr. Fuger to permit counting of funds as received before receipt of check, not considered 10/25 desirable Re FRBank to reply to, s amendment T and U, recent of St. Louis re 90-day rule in special 4/23 cash account Bank onal Internati by issued s to securitie S% 2564, exempt for Reconstruction and Development from Securities Act of 1933, and other acts, Board in favor of enactment, advice to 5/6 Mr. Tobey, and to Mr. Wolverton State securities acts, proposed act to amend to permit distribution of information to public prior to registration or qualification of securities for sale, no objection to, advice to Depart9/17 ment of Justice SIlbs titution of securities in, and withdrawals from, undermargined accounts, reply to Mr. Milton N. 3/2 Mound re regulations to restrict 3/5 approved Amendments to Regulations T and U to permit, Ruling to be published in FRBulletin and Federal Register, 3/26 advice to FRBanks odd-lot ReP4 to inquiry from FRBank of New York re 4/8 order offset to SQ-e and purchase required to occur on same day purchase in undermargined account, advice to 4/8 FRBank of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1202 1616 643 380 401 458 1812 641 712 1525 295 315 459 562 563 Serte nberg, Chester D., request for names of banks that have recently closed or opened trust departments, 4/15 no objection to furnishing information i Selectlye entering employees Service Act of 1948, policy re service under with additional salary bene10/25 fits approved, advice to FRBanks .L.L business: ItePorts of inadequate financing facilities, to be discon7/15 tinued, advice to FRBanks th, Joseph L., security loan regulations of Board, reply to 1/2 letter from kciero W. Cloyd, South Pasadena, California, readily marketable assets required by holding company affiliates granted voting permits, reply to letter10/19 ScIlie&tor: msend, J. Leonard, appointment as, recommendation to be 12/3 be submitted by Personnel Committee 8Per-irby Company, Houston, Texas, Regulation V, registration, similar arrangement as for Martin-Parry Corporation re dealer-salesmen, advice to FRBank 12/22 of Dallas SMIlgarn, Stephen J., Deputy Director, Office of Contract Settlement, request for building space to be vacated by Appeal Board as needed for Commission on Organization of Executive Branch 4/2 8tEibi of Government zation, economic: e suggestions for the Development of an Economic Stabilization Program for a War Emergency, memo of Mr. Griffith Johnson, comments of Board on sections re monetary matters before considera8/31 tion by National Security Resources Board 1 4ation, international: 1114: "ermational Monetary Fund and Bank, third annual meetings 10/4 of Governors, report to be sent to Board 'tf„ Board of Governors: PPlication for position, revision to conform to Civil Service 9/7 form in regard to loyalty program Attend 6/1 Boa slice at Board meetings, procedure approved I'd Members Section: Benton, Madeleine E., secretary to Mr. Thurston, transfer to Office of Mr. McCabe as secretary 10/13 and salary increase approved 12/22 Branic, Otto H., messenger, salary increased 8un4Y, Herbert W., messenger, appointment made perman4/28 ent 11/12 Salary increased Coleman, Philip E., Administrative Assistant to Chair4/14 man, appointment and salary approved increased 5/27 salary Morrill, Mr. to secretary Anne, Morrill, Chester: 8/10 Member of committee to work on new Regulation V 338 Pages 588 1810 1123 4 1787 2044 2184 531 r http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1412 1672 1446 882 1754 2180 682 1893 582 867 1261 Staff Of Board of Governors: (continued) Board Members Section: (continued) Morrill, Chester: (continued) Member of committee to draft statement on economic 10/12 basis of Federal Reserve policy proposals alternative prepare to committee Member of 11/17 of legislation St. Louis, of FRBank at problem Official personnel 11/23 memorandum re To prepare statement on official personnel at 9/29 FRBank of St. Louis To work with Mr. Johns on survey of International 6/11 Secticn 8/26 by Mr. Bach prepared Board on To discuss report Mr. Thurston, to secretary Muehlhaus, Margaret N., transfer from Division of Bank Operations 11/4 with salary increase approved to Chairman: Assistant W., Riefler, Winfield 4/19 Appointment and salary approved panel in part take to invitation accept Authorized to 12/7 before National Farm Institute antire McCabe of Mr. views re Draft of statement 8/6 inflation bill to be prepared possible as mentioned Foreign mission to Japan, 5/10 selection for economic on statement Member of committee to draft 10/12 basis of Federal Reserve policy re on recommendati make Member of committee to 10/19 assistance of staff in foreign missions proposals alternative prepare to Member of committee 11/17 of legislation committee advisory of meetings Not to preside at making study of savings under sponsorship 9/14 of life insurance companies Payment of voucher for travel expenses in connection with trip to Hot Springs, Va., for meeting 11/10 of Business Advisory Council approved 8/24 Statement on business and credit situation To assist in preparation of statement re topics 9/20 submitted by FAC 8/26 To discuss report on Board with Mr. Bach Schmidt, Catherine, secretary to Mr. Riefler, transferred from Division of Administrative Services, salary increase not in conformity 6/25 with Federal Employees Salary Act of 1948 Transfer from Division of Administrative Services 7/1 approved 12/10 Salary increased T hurston, Elliott: Address by Mr. Williams, no objection to payment of printing cost by FRBank of Philadelphia, 10/19 with certain changes made http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 339 Pages 1744 1931 1966 1638 938 1387 1851 604 2078 1242 746 1744 1783 1931 1500 1890 1373 1530 1387 1038 1067 2100 1785 340 Pages Staff Of Board of Governors: (continued) 13°ard Members Section: (continued) Thurston, Elliott: (continued) Chairman of committee to draft statement on economic 10/12 basis of Federal Reserve policy antire McCabe Mr. of views Draft of statement re 8/6 inflation bill to be prepared H. R. 2799, present at meeting at Bureau of the Budget to discuss possible changes, no 7/23 change in Board's position proposals alternative prepare Member of committee to 11/17 of legislation of of directors FRBanks, responsibilities Statement on to prepare letter in reply to Mr. Calkins on 1/16 Statement re article in Evening Star by Doris Fleeson giving votes of Board members on changing of 8/4 Chairman McCabe's statement 1/30 Title changed to Assistant to Board 8/26 To discuss report on Board with Mr. Bach Transamerica Corporation, request for public hearing and change in place of, comments to be re9/29 quested private or public re opinion hearing, Transamerica 10/1 hearing requested all attend to Transamerica Corporation hearing, sessions to inform Board on reactions in 10/1 public press Adwell, Mrs. Lydia M., cafeteria helper, appointment extended on temporary basis, without change in salary Appointment made permanent balary increased Ayers, Mrs. Julianne I., cafeteria helper, appointment on part-time basis and salary approved 13issett, Alvin, cook, resignation accepted Appointment on temporary basis and salary approved Appointment on temporary basis and salary approved 8 Resignation accepted °Yel, Kathrine, cafeteria helper, appointment made permanent , Salary increased 3 oadhurst, Blanche, cafeteria helper, salary increased 1sr 'Eva M., baker, salary increased 0rown .*auford, Mary, Head Cook, salary increased ,:! `''llagher, Mrs. Catherine, cafeteria helper, appointment on temporary basis and salary approved Appointment made permanent without change in salary Mrs. Katie, cafeteria helper, termination of employment approved, special payment to be made http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1744 1242 1157 1931 75 1225 136 1387 1635 1650 1658 2/25 10/11 12/10 252 1733 2102 3/18 1/2 5/11 7/16 12/15 382 3 753 1126 2129 10/11 10/11 12/10 12/10 1/29 1733 1734 2102 2102 128 10/12 12/8 1748 2091 1/30 137 Staff of Board of Governors: (continued) Cafeteria: (continued) Ragstrom, Mrs. Katherine J., cafeteria helper, appointment on temporary basis and salary 2/27 approved basis with no temporary Appointment extended on change in salary 5/3 10/4 Resignation accepted 1/29 Harrison, Dora, Jr. Supervisor, salary increased 12/10 Imhoff, Anna E., cafeteria helper, salary increased 12/10 Jones, Pearl, cook, salary increased appointment made Myers, William M., cafeteria helper, 4/16 permanent Payne, Mrs. Della, cafeteria helper, to be included in 4/15 Federal Reserve retirement system 4/28 Salary increased 10/11 Appointment made permanent appointment made Supv., Preble, Mildred Louise, Asst. 10/11 permanent 12 /10 Salary increased increased salary 12/10 Psomos, George, cafeteria helper, 4/28 Robertson, Naomi, cafeteria helper, salary increased 10/11 Appointment made permanent 10/29 Resignation accepted Shinn,1 2/10 Emma, cook, salary increased application for Taylor, Harry C., cafeteria helper, retirement on account of disability, separation approved with special payment as sep3/18 aration allowance 12/10 Tull, Winnie L., Jr. Supervisor, salary increased 4/28 Tydings, Mildred, Supervisor, salary increased 4/30 Salary increased Wilson, Mrs. Lela M., cafeteria helper, appointment on 11/17 temporary basis and salary approved Ch4rwomen: Billingsley, Mrs. Catherine B., appointment on temporary 2/19 basis and salary approved 3P3 Resignation accepted 3/11 Cook, Clara Ray, salary increased Crowe11, Teresa F., salary increased 11/12 11/12 Dalton, Margaret, salary increased Kiowell, Mrs. Helen Roberta, appointment on temporary 4/8 basis and salary approved Mosher, Mrs. Dorothy R., appointment on temporary basis 4/20 and salary approved without appointment on basis temporary Extension of 6/30 change in salary approved 10/11 Appointment made permanent Peacock, Blanche E., salary increased 11/12 4/16 Richardson, Constance h., appointment made permanent 8/25 Salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 341 Pages 261 697 1673 128 2102 2102 595 587 683 1733 1733 2101 2102 683 1733 1834 2102 383 2102 683 693 1934 239 430 352 1893 1893 560 611 1064 1733 1893 595 1382 342 Pages Staff of Board of Governors: (continued) Charwomen: 8/6 Thorne, Grace L., salary increased 3/31 increased Utz, Anna M., salary 4/16 permanent Appointment made 4/16 Vrightson, Louise A., appointment made permanent 4/28 Salary increased 3/31 increased Young, Elizabeth M., salary C hauffeurs: 4/28 Bell, J. Frank, Head Chauffeur, salary increased 1/29 increased Crowell, Charles E., salary be to matter Employment of additional, discussion, 9/21 considered again after first of year 12 /10 Gardner, William, salary increased 4/28 Stull, Howard W., salary increased (Immittees of outside organizations, service on, survey to be made and matter to be considered at 8/24 meeting in September to staff senior Service on, report of survey re, consider matter and submit recommendations 10/15 re future policy to be followed Com number as to reply pilation requested by Senator Langer, 4/12 and offices Consultants: CoPelana, Morris A. designated as Consultant for 1949, 12/13 compensation and travel expenses approved asked be to Goldenweiser, E. A., ceiling reserve plan, 11/17 to discuss at meeting of Board 11/22 17 December Invited to discuss with Board on Reserve requirements, ceiling plan discussed by, summary of remarks placed in files, no 12/17 objection to distribution compenin change To be continued on list with no 12/13 sation and travel allowance ion, Administrat Lohmann, M. R., Division of Personnel employment on temporary basis and salary approved, traveling expenses and per diem 4/9 to be granted no with list Lute, Friedrich A., to be continued on change in compensation and travel allowance 12/13 Morse, Chandler, to be continued on list with no change 12/13 in compensation and travel allowance preparation Musgrave, Richard A., services to be used in of report re wartime economic stabilization, 10/1 compensation and travel expenses approved compensaTo be continued on list with no change in 12/13 tion and travel allowance Van Fossen, J. R., to be retained for one year on part 12/8 time basis Co lInsel's Office: 1/2 Bauman, John C., Assistant Counsel, salary increased 1/6 Board Designation as Vice Chairman of Loyalty http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1247 492 595 595 683 492 683 128 1546 2102 683 1365 1767 570 2112 1931 1953 2151 2113 565 2113 2113 1665 2113 2091 2 24 343 Staff of Board of Governors: (continued) Counsel's Office: (continued) Bauman, John C: (continued) Memorandum on S. 2790 to authorize Federal National Mortgage Association to pur6/29 chase insured mortgages salary and Counsel General Promotion to Assistant increase approved, to be in charge of office in absence of General Counsel, Associate General Counsel, and other Assist8/13 ant General Counsel 8 /13 increased salary Counsel, Chase, G. Howland, Assistant approved attorney 12/7 as Transfer to Office of Solicitor Cherry, A. K.: Memorandum on amendments to loyalty regulations on 7/22 procedures 8 /13 Salary increased V Regulation with connection Services to be used in for remainder of year, traveling expenses to be charged to budget of Division of Bank 10/28 Operations Townsend, Mr. to Colvin, Mrs. Frances C., secretary 12/9 transferred to Solicitor's Office increased 9/30 salary Bauman, Crosby, Jean, secretary to Mr. conformity in not Dyer, Sara A., salary increased but 6/25 with Federal Employees Salary Act increased salary Edwards, Evelyn W., stenographer, ) ) 3( /i 91 Secretary to Mr. Solomon, salary increased authorized, salary Employment of young lawyer and Mr. Vest to find someone during next month 8/13 or two 1/2 increased salary Hackley, Howard H., Assistant Counsel, 4/27 increased salary Hooff, Wilson L., Assistant Counsel, 4/27 Bunley, John H., messenger, salary increased 2/19 increased salary , Knox, Mrs. Esther, stenographer salary Vest, Mr. to secretary McColloch, LucyiI., 6/10 increased salary and appointment Clerk, Law McKinsey, Robert J., 12/10 approved drafts alternative Reserve requirements legislation, 12/31 of bills to be prepared by 1/2 increased salary Assistant Counsel, Shay, Jerome Transwith Smith, Joseph J., retention in connection america proceeding and fee plus reimbursement for traveling and other expenses 12/17 approved 1/2 increased salary Solomon, Frederic, Assistant Counsel, /10 8 W Regulation to on work new Member of committee on Committee on to serve Mentioned as member Secured Consumer Credit of American Bar Association, but request of Mr. Myerson 8/10 for designation to be declined http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pa.ges 1060 1282 1281 2084 1145 1281 1830 2093 1645 1038 930 1645 1282 2 678 678 236 930 2100 2251 2 2144 2 1261 1260 Sta.ff of Board of Governors: (continued) Counsel's Office: (continued) Solomon, Frederic: (continued) Promotion to Assistant General Counsel and salary increase approved, to be in charge of office in absence of General Counsel and 8/13 Associate General Counsel pubbe to not ion, Associat Article for American Bar lished in FRBulletin but copies to be 9/2 available for FRBanks, advice to Mr. Neely and States of Powers Essay on Steps to Restore Localities, to be listed in FRBulletin and copies to be available upon request, 10/5 advice to FRBanks Governof policies domestic te Council to coordina ment lending agencies, to report on 12/21 informal conference re preparain assist to , agencies lending Government tion of letter re means for coordination of 12/21 domestic policies work for obtained be to Special counsel, services 12/3 on Transamerica proceeding Transwith on connecti in To be employed for work 12/6 america case to efforts of Vest and Review by Messrs. klcCabe find, recommendation to be submitted at 12/13 earliest possible moment counsel special as Smith Retention of Joseph J. 12/17 and fee approved ty conformi in not but Stone, A. M., salary increased 6/25 with Federal Employees Salary Act of 1948 Mr. to reply in letter Townsend, Leonard, to prepare Calkins on statement on responsibilities 1/16 of directors of FRBanks suggess, director of bilities Statement of responsi 3/5 tions re revision reguested of To discuss request of Senator Tobey for material re Transamerica Corporation and Bank of 3/24 America with Mr. L'Heureux rica Transame re ation Report on status of investig 4/2 Corporation ing forthcom for Special per diem of 41)12 authorized trip to 1-est Coast in connection with Transamerica investigation, additional payment 4/2 for trip during March authorized also To make report of investigation of Transamerica 5/25 Corporation ion, Corporat rica Transame of ation Report of investig to work with Messrs. Evans and Clayton to formulate recommendation re action to be taken in connection with proceeding to be 5/26 Instituted http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pages 1281 1434 1708 2162 2168 2043 2061 2110 2144 1038 75 318 436 521 532 840 855 Staff of Board of Governors: (continued) Counsel's Office: (continued) Townsend, Leonard: (continued) Authorized to visit Pacific Coast during summer to secure material re Transamerica Cor5/27 poration hearing bank discuss to September To attend meeting in 7/6 holding company legislation Transamerica with Trip to West Coast in connection 7/2 Corporation, per diem of 0.2 approved telephone after Letter to Mr. Giannini, approved discussion with Mr. Vest, to inform Mr. 8/3 Baldridge re at future time the of Comptroller Statement re conference with Currency concerning Transamerica Corpora8/24 tion and Delano Messrs. with Bank of America, conference Hanl re application for foreign branches 8/31 in Germany motion file to authorized Transamerica Corporation, to dismiss complaint for injunction and to ask Judge Morris to set date for early 10/11 hearing Transwith connection Per diem of $12 for trips in 10/15 america case approved litigation all and Title to be changed to Solicitor and enforcement proceedings to be handled by, recommendation to be submitted by 12/3 Personnel Committee Office to assigned Title changed to Solicitor and 12/6 of Solicitor Vest, George B.: Authorized to serve as advisory member of Legal Subcommittee to study revision of loss 11/23 sharing agreement of FRBanks with preparation to Code, discuss Commercial Mr. Davis and after review by Counsel of FRBanks and Board send comments to Law 6/11 Institute reserve in banks Legislation to include nonmember proposal, to assist Mr. McKenna in draft8/2 ing Budget the of Legislative proposals, letter to Bureau 11/17 to be prepared by proposals Member of committee to prepare alternative 11/17 of legislation economic on Member of committee to draft statement 10/12 basis of Federal Reserve policy holding of with meeting representatives Present at company groups to discuss proposed legisla9/10 tion http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 345 Pages 863 1086 1081 1211 1367 1408 1729 1769 2043 2061 1970 937 1200 1930 1931 1744 1483 346 Pages Staff of Board of Governors: (continued) Counsel's Office: (continued) Vest, George B.: (continued) Retirement system investment policy, legal opinion 10/5 to be referred to for comment of bill draft preparing To assist Mr. L'Heureux in 10/8 creating National Monetary Commission bank discuss to To attend meeting in September 7/6 holding company legislation meeting at Division To select representative from 7/20 on housing if called by Mr. Pace Division of Administrative Services: Adwell, Mrs. Lydia M., cafeteria helper, appointment extended on temporary basis, without change in salary2/25 Alleman, Mrs. Marie Smith, stenographer, appointment 11/9 and salary approved 4/28 increased salary Anderson, Helen M., clerk, /12 11 Salary increased to transfer her, stenograp Arnold, Mrs. Mary Rose, Office of Mr. Eccles and salary increase 3/31 approved temporary on nt appointme Atchinson, John We) laborer, 6/25 basis and salary approved 8/16 Resignation accepted basis temporary on Banos, Luis F., clerk, appointment 6/9 and salary approved 9/1 Resignation accepted 3/11 increased salary Barnes, Bricen, Operator (Dup. Dev.) insurance life Bass, Sampson H., memorandum re group policy, excess premiums paid by employees to be carried forward as reserve, to be used before further contributions by 8/9 Board basis temporary on nt Beaton, Edward N., guard, appointme 2/20 and salary approved 10/11 Appointment made permanent Becker, William F., guard, appointment on temporary basis 6/8 and salary approved 10/11 Appointment made permanent 4/28 Bell, J. Frank, Head Chauffeur, salary increased insalary Berry, Benjamin D., Foreman Opr. (Mini.), 5/27 creased n connectio in Bertol, L. N., Captain of Guard, services with examination of National Bank of 1/23 Haiti, mentioned as possibility Chairman for d as alternate Bethea, L. P., designate McCabe on Interdepartmental Committee for 5/19 Peacetime Voluntary Pay Roll Savings Plan power electric re on emergency To obtain informati and plans of other Government agencies for 7/20 evacuation of buildings in event of attack http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1686 1723 1086 1134 252 1881 683 1893 491 1050 1286 926 1416 352 1249 245 1733 920 1733 683 871 111 804 1130 347 Pages Staff of Board of Governors: (continued) Division of Administrative Services: (continued) Billingsley, Mrs. Catherine B., charwoman, appointment on temporary basis and salary approved Resignation accepted Blash, John, Maintenance Mechanic, salary increased Boothe, Woodley, general mechanic, salary increased Branic, Otto H., transfer from Division of Security Loans as Operator (Duplicating Devices) without change in salary approved Transfer as messenger to Chairman's Office -without change in salary Buck, Mrs. Ruth I., page, appointment on temporary basis and salary approved Appointment made permanent Resignation accepted, reimbursement to be made for overdrawn annual leave Buckles, Evelyn M., clerk, appointment and salary approved Capozio, Mrs. Helen M., clerk, appointment made permanent without change in salary Salary increased Canter, Ethel M., Cafeteria Helper, salary increased Carter, Beverly A., mail clerk, salary increased Carter, Robert B., laborer, appointment made permanent Carmichael, E. L., Supv., Publications Sec., salary Increased Cassidy, Alton W., laborer, appointment on temporary basis and salary approved Extension of appointment without change in salary approved Salary increased Appointment made permanent Clabaugh, Charles D., Jr., guard, salary increased Resignation accepted Collison, Mrs. Dessie Adena, page, appointment and salary approved Comer, Mrs. Edith, page, resignation accepted Constable, Frank W., Operator (Dup. Devices), salary increased Cook, Clara Ray, charwoman, salary increased Cook, Thomas G., guard, salary increased Cooley, Leroy H., telegraph operator, appointment and salary approved Crawford, Mary, Head Cook, salary increased Crowell, Charles E., Chauffeur, salary increased Crowell, Teresa F., charwoman, salary increased Dalton, Margaret, charwoman, salary increased Davis, Leonard M., painter, appointment on temporary basis and salary approved R., guard, salary increased Thomas Deakins, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2/19 3/23 3/31 10/11 239 430 492 1734 3/29 474 4/29 690 2/18 4/16 221 595 9/9 1472 1/9 49 5/10 11/12 7/7 3/5 4/16 748 1893 1094 323 10/11 1734 1/15 68 3/12 5/27 10/11 1/8 2/18 360 871 1733 28 222 10/20 5/26 1790 856 5/27 3/11 11/12 871 352 1893 10/12 1/29 1/29 11/12 11/12 1748 128 128 595 1893 1893 4/5 533 8/6 1247 kart, of Board of Governors: (continued) Division of Administrative Services: (continued) Dellenoci, Anthony N., tabulation machine operator, 5/3 appointment and salary approved position to transfer laborer, Dinkins, Benjamin L., of Operator (Duplicating Devices) and 3/29 salary increase approved 4/16 Appointment made permanent Divers, Clyde D., laborer, appointment on temporary 6/25 basis and salary approved basis without temporary Extension of appointment on 8/24 change in salary approved 10/11 Appointment made permanent 10/11 Dorsey, Mary E., Printing Clerk, salary increased temporary on appointment Dozier, Chester A., laborer, 9/24 basis and salary approved in change without permanent Appointment made 11/24 salary Dyson, Nelson S., Operator (Dup. Dev.), salary increased 12/10 11/12 Eaton, Marjorie, stenographer, salary increased 6/15 approved salary and appointment Elliott, Lois, page, 9/9 Resignation accepted increased 10/11 salary Faber, Philip D., Supply Clerk, 4/16 Florea, Hiram H., appointment made permanent 8/25 Salary increased permanent made appointment 4/16 Fowler, Preston E., laborer, 12/10 increased Gardner, William, chauffeur, salary 1/29 Gehrett, Reba M., clerk, salary increased increased 3/31 salary operator, Glover, Hazel M., elevator 4/16 Appointment made permanent 12/20 Resignation accepted 7/7 Goodloe, Ida, Supervisor, salary increased. Griffith, Mrs. Flora J., Chief Telephone Operator, advance of sick leave, to be charged 5/14 against leave subsequently accrued /10 12 increased Salary temporary on appointment laborer, Harrison, Curtis E., 6/29 basis and salary approved salary (Cafeteria), Supervisor Harrison, Dora, Jr. 1/29 increased Henn, Margaret J., page, appointment and salary approved 7/1 Herdman, Arthur P., general mechanic, appointment extended 3/12 for six months without change in salary Hopkins, Glenn B., painter, appointment on temporary basis 5/24 and salary approved in change without appointment temporary of Extension 8/30 salary approved 10/11 Appointment made permanent 12/10 Salary increased Hoyle, Joseph H., clerk, appointment and salary approved 7/1 10/11 tiulen, Helen L., Publications Clerk, salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 348 Pages 697 474 595 1050 1375 1733 1734 1615 1971 2102 1893 952 1472 1734 595 1382 595 2102 128 492 595 2157 1094 786 2102 1059 128 1068 360 832 1400 1733 2101 1067 1734 349 Staff of Board of Governors: (continued) Division of Administrative Services: (continued) Hurst, Mrs. Dorothy S., clerk-stenographer, appointment 10/7 on temporary basis and salary approved 3/11 Jasper, Miriam P., clerk, salary increased 11/12 Salary increased 5/27 Johnson, Claiborne, Mail Clerk, salary increased 4/28 Johnson, Mary E., Telephone Operator, salary increased Kelleher, Joseph E., Assistant to Director, salary 12/16 increased Kern, Harry E., Supv., Procurement Sec., salary in10/11 creased on appointment charwoman, Roberta, Helen Mrs. Kidwell, 4/8 temporary basis and salary approved permanent made appointment clerk, W., Leone Klaprat, 3/5 and salary increased Kopfman, Thomas Vincent, clerk, appointment on temporary 7/1 basis and salary approved Extension of temporary appointment on permanent basis 10/1 without change in salary approved 1/29 Kramer, F. Allison, Accounting Clerk, salary increased Lane, Daniel F., transferred from Mr. Szymczak's office as Operator (Duplicating Devices) without 5/6 change in salary 5/27 Langham, Lee W., Sergeant, salary increased Transfer as research assistant to Division of Research and Statistics without change in 12/23 salary approved Larson, Bernard W., Operating Engineer, salary in3/31 creased 3/11 Lewis, Evelyn M., elevator operator, salary increased 'lynch, Brisco G., laborer, appointment on temporary 5/27 basis and salary approved 11/12 IlYnch, James P., clerk, salary increased 1/29 4Yon, John N., Accounting Clerk, salary increased temporary Marteletto, Joseph, laborer, appointment on 4/13 basis and salary approved 3/11 Mayhew, Morris, gardener, salary increased temporary McDonald, William R., guard, appointment on 2/20 basis and salary approved 10/11 Appointment made permanent 2/17 McPherson, Mrs. Vivian D., page, resignation accepted 1/8 Mock, Fannie L., elevator operator, salary increased 4/16 Appointment made permanent Moffett, Bruce L., operator (dup. devices), salary 1/29 increased 8/6 Salary increased 1/29 Moon, Donald W., clerk, salary increased 9/22 approved Morley, Rachael, page, appointment and salary Mosher, Mrs. Dorothy R., charwoman, appointment on tem4/20 porary basis and salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pages 1714 352 1893 871 683 2137 1734 560 323 1067 1665 128 707 871 2193 492 352 871 1893 128 572 352 245 1733 219 28 595 128 1247 128 1591 611 Staff Of Board of Governors: (continued) Division of Administrative Services: (continued) Mosher, Mrs. Dorothy R.: (continued) Extension of appointment on temporary basis without 6/30 change in salary approved 10/11 Appointment made permanent Nickens, Carl J., laborer, appointment on temporary 8/2 basis and salary approved Extension of temporary appointment on permanent 10/1 basis without change in salary approved 2/27 Orndoff, Sydnor C., painter, resignation accepted 1/29 Oros, Susie T., Accounting Clerk, salary increased Osborne, John E., operating engineer, appointment and 11/17 and salary approved Palmer, Ethelyn M., stenographer, salary increased 3/31 5/26 Salary increased Payne, Mrs. Della, cafeteria helper, to be included in Federal Reserve retirement system 4/15 11/12 Peacock, Blanche E., charwoman, salary increased Peregory, Walter L., Operator (Dup. Dev.), salary 12/10 increased Pollard, W. A., Asst. Chief, Fiscal Sec., salary 10/11 increased 10/11 increased salary Roll Clerk, Pay Poundstone, John M., Preble, Mildred Louise, Asst. Supv., Cafeteria, 10/11 appointment made permanent 12/10 increased Salary 3/18 Ratliff, Lee, laborer, resignation accepted 10/11 Reading, Benjamin R., clerk, salary increased 4/28 Reamey, Dorothy, page, salary increased Reid, Mrs. Joyce S., clerk-stenographer, resignation 2/3 accepted Rhodes, Mrs. Dorothy S., clerk-stenographer, resigna6/16 tion accepted Richardson, Constance H., charwoman, appointment made 4/16 permanent 8/25 Salary increased 11/12 Rogers, Edward D., messenger, salary increased Saieed, Pearl Mae, clerk-stenographer, salary in5/26 creased 5/26 Saunders, Dorothy L., stenographer, salary increased Schmidt, Catherine L., stenographer, transfer from Division of Security Loans without change 3/31 in salary approved Transfer as secretary to Mr. Riefler approved, salary increase not in conformity with Federal Em6/25 ployees Salary Act of 1948 Transfer to Board Members Section as secretary to 7/1 Mr. Riefler approved 3/31 Seagle, Mary S., Telegraph Operator, salary increased 9/27 Resignation accepted http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 350 Pages 1064 1733 1201 1665 262 128 1934 492 856 587 1893 2102 1734 1734 1733 2101 383 1734 683 142 956 595 1382 1893 856 856 491 1038 1067 492 1621 Staff of Board of Governors: (continued) Division of Administrative Services: (continued) Shaker, Richard, guard, appointment and salary approved 12/23 Sherrod, Ralph A., Operator (Dup. Devices), salary in5/27 creased 3/11 increased Shipp, Arad B., gardener, salary Simonds, Eleanor P., stenographer, appointment and 9/23 salary approved accepted /4 6 Smoot, William E., guard, resignation r, appointment stenographe Snowdon, Mrs. Louise Florian, 2/10 and salary approved 5/26 Salary increased salary and appointment page, Spitsberger, Mary Ellen, 11/26 approved resignation clerk, printing Staley, Mrs. Enid W., 6/11 accepted 10/11 increased salary Steger, Karl J., General Mechanic, 4/28 Stull, Howard W., Chauffeur, salary increased apsalary and appointment Surm, J. Robert, clerk, 2/10 proved 7/7 Salary increased Sweeney, Helen Louise, clerk, appointment made perman4/16 ent 11/12 Salary increased Tate, Henry, laborer, appointment on temporary basis 5/3 and salary approved without basis temporary Appointment extended on 6/30 change in salary 10/11 Appointment made permanent Granted leave of absence without pay to enter military service under Selective Service Act 12/15 of 1948 salary Devices), (Dup. Taylor, Franklin, Operator 5/27 increased and appointment r, stenographe Templeton, Loverne, 3/22 salary approved insalary anu office Szymczak's Transfer to Mr. 5/6 crease approved 8/6 Thorne, Grace L., charwoman, salary increased 4/28 increased salary guard, Tobler, Herman Lee, Tobler, Nellie Gray, elevator operator, salary increased 1/29 3/31 Trivett, Gertrude E., stenographer, salary increased 5/26 Salary increased Transfer to Office of Mr. Draper on temporary basis 12/24 and salary increase approved Tulenko, Joseph G., Tabulation Planner, salary increased 1/29 Tull, Winnie L., Jr. Supervisor, Cafeteria, salary 12/10 increased Turner, Mrs. Jane T., stenographer, appointment and 11/26 salary approved 8/6 Twomey, R. C., Supvr., Dup. & Mail, salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 351 Pages 2194 871 352 1602 900 163 856 1982 940 1734 683 162 1094 595 1893 697 1064 1733 2129 871 396 707 1247 683 128 492 856 2198 128 2102 1982 1247 Staff Of Board of Governors: (continued) Division of Administrative Services: (continued) Tydings, Mildred, Supervisor, Cafeteria, salary increased 4/28 4/30 Salary increased 4/28 increased Unger, B. M., Sergeant, salary 3/31 Utz, Anna M., charwoman, salary increased 4/16 Appointment made permanent Wall, Peggy Lee, clerk-stenographer, appointment made 4/16 permanent 5/27 Salary increased increased salary 10/11 Clerk, Warner, Robert P., Accounting 1/29 Weikel, Mary A., Telephone Operator, salary increased 4/16 made permanent Wiesner, Cecile C., page, appointment 5/27 Salary increased 4/16 lake, Mabel E., page, appointment made permanent Transfer to Secretary's Office as file clerk and 6/30 salary increase approved and appointment Wilkes, Carolyn M., stenographer, 5/27 salary approved 7/7 increased Williams, Ruth M., Stenographer, salary Resignation accepted, reimbursement to be made 9/1 for overdrawn annual and sick leave salary Wolcott, Helen B., secretary to Mr. Bethea, 5/27 increased salary Wolfe, Margaret L., secretary to Mr. Boothe, 8/25 increased Wrightson, Louise A., charwoman, appointment made 4/16 permanent 4/28 Salary increased 3/31 1)4 Young, Elizabeth M., charwoman, salary increased 4-vlsion of Bank Operations: 7/22 Ball, Margaret K., clerk, salary increased 7/22 Benson, Catherine, clerk, salary increased 7/22 Boyer, Rita S., clerk, salary increased 7/22 Bryan, Evelyn, clerk, salary increased 11/12 Chadik, Mary ann, clerk, salary increased coffren, Mrs. Gertrude M., clerk-stenographer, 3/4 resignation accepted salary Colliding, Gerald M., Technical Assistant, 4/9 increased with connection Connell, J. J., advance of funds in Functional Expense Survey at FRBank of 6/8 New York approved 5/6 increased Conover, Mrs. Esther W., clerk, salary insalary Daniels, Mortimer B., Technical Assistant, 4/9 creased Dodge, Jane G., secretary to Mr. Myrick, salary in4/9 creased Durkan, Mary M., analyst, transfer from Division of Security Loans and salary increase approved 2/13 Ex00, George, letter of appreciation for work on Regula12/21 tion W matters http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 352 Pages 683 693 683 492 595 595 871 1734 128 595 871 595 1063 870 1094 1416 871 1382 595 683 492 1147 1147 1147 1147 1893 303 565 921 709 565 565 183 2172 353 Staff of Board of Governors: (continued) Division of Bank Operations: (continued) Ford, Mrs. Dorothy H., clerk, granted additional leave 9/16 without pay after maternity leave 10/29 Resignation accepted Franzoni, John C., granted additional leave and reimbursement for expenses for 1948 session 1/14 of Graduate School of Banking 11/12 increased Technical Assistant, salary Fuhrer, Robert P., analyst, appointment and salary 4/12 approved 11/12 Salary increased 5/6 Garrison, Doris, clerk, resignation accepted 7/22 increased Gcheen, Loretta M., senior clerk, salary Horbett, J. E.: 1/6 Designation as alternate on Loyalty Board for ment Granted additionalleave and reimburse expenses for 1948 session of Graduate 1/14 School of Banking 10/12 changing re m Reserve computation periods, memorandu 8/17 Salary increased bank and Thesis on State bank reserve requirements credit control, to be summarized at meet5/7 ing in near future connecHurley, J. J., additional payment on account in tion with Transamerica investigation ap5/7 proved 11/12 increased salary 'Vie, Patricia B., clerk-stenographer, Johnson, Edwin J., Technical Assistant, salary increased 11/12 7/22 Jones, Marjorie F., senior clerk, salary increased temporary on nt appointme Kelly, Mrs. Charlotte A., clerk, 12/10 basis and salary approved basis temporary on nt Kelso, Geraldine, clerk, appointme 5/27 and salary approved 7/22 increased salary Kolb, Raymond C., analyst, Leonard, R. F., appointment as Director upon retirement of Mr. Smead and as Associate Director on September 1 approved, initial duties to be 8/17 in connection with Regulation V September effective WI n To direct work on Regulatio 9/10 16, advice to FRBanks Lewis, Dale M., Chief, Regulation V Section, appointment and salary approved, moving expenses to be paid by Board and special allowance pending establishment of family in Vashington ap9/23 proved 11/12 increased salary Lipps, Jane, clerk, Mereer, Hilda Doris, clerk-typist, appointment on tem6/25 porary basis and salary approved without months for six nt appointme Extension of 12/9 change in salary http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pages 1514 1834 65 1893 570 1893 709 1147 24 65 1740 1318 724 739 1893 1893 1147 2100 870 1147 1317 1478 1602 1893 :0 0:: 81;etf 354 Pages Of Board of Governors: (continued) Division of Bank Operations: (continued) 1893 11/12 Millea, Gerald F., analyst, salary increased 2/19 239 Millican, Thelma C., clerk, salary increased Mitchell, Willis H., retirement to be effective 1885 11/10 March 1, 1949 Muehlhaus, Margaret, administrative clerk, salary 7/22 1147 increased Transfer to Board Members Section as secretary to 1851 Mr. Thurston with salary increase approved 11/4 Myrick, Lowell, Fiscal Agency Conference at Swampscott, Mass., to be attended by 4/1 495 Pauley, Francis R., services to be used in connection 1829 with Regulation W work until June 30, 1949 10/28 Peck, Esther G., clerk, salary increased 7/22 1147 Peterson, Mrs. Maria Jo, clerk-typist, appointment on temporary basis and salary approved 6/14 948 1282 8/13 Appointment on temporary basis and salary approved 2101 12/10 Appointment made permanent Powers, William Joseph, analyst, appointment on temporary 184 2/13 basis and salary approved 7/22 1147 Roiberts, Mary L., clerk, salary increased 1147 7/22 Sherfy, Robert E., senior clerk, salary increased 7/22 1147 Skinner, Carl M., clerk, salary increased Smead, E. L.: 5/14 775 Budgetary procedures at FRBanks, memorandum on Budgets of FRBanks for 1949, statement re increase 12/6 2047 over 1948 Buildings for Jacksonville, Los Angeles and Portland branches, to prepare letters on cafe18 teria facilities and vault construction for .1/6 Direct sending or sorting and listing separately of cash items of member banks with daily average of 300 or more payable in territory 1960 of another FRBank of Branch, memorandum re 11/23 Fiscal Agency Conference at Swampscott, Mass., to be 4/1 495 attended by 8/17 1317 Retirement to be effective January 1, 1949 Retirement, application for optional effective 2084 12/7 January 1, 1949, noted 1893 11/12 Smith, Paul F., analyst, salary increased Turner, Carrie, clerk-typist, appointment made per183 2/13 manent without change in salary 239 2/19 Salary increased 11/12 1893 Salary as clerk-stenographer increased Van Fossen, J. R., Assistant Director, retirement to be 1829 10/28 effective on December 31, 1948 Retention on part-time basis as consultant after retirement and fee for one year approved, no credit to be received under retirement 12/8 2091 system http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 355 Pages Stqf Of Board of Governors: (continued) Division of Bank Operations: (continued) 7/22 Van Order, Grace, clerk, salary increased 11/17 permanent Appointment made Weiner, Mrs. Florence K., clerk-stenographer, appoint10/14 ment and salary approved on appointment -typist, Willard, Mrs. Ruth R., clerk 3/26 temporary basis and salary approved 11/17 Appointment made permanent Woodley, Mrs. Evelyn Norma Lane, clerk, appointment on , 5/4 temporary basis and salary approved 11/12 Salary increased 11/17 Appointment made permanent Div4 J.sion of Examinations: Ahalt, Helene L., secretary to Mr. Leonard, salary 9/2 increased Mr. to of successor appointment Assistant Director, Millard to be left open until return of 8/17 Chairman McCabe subto Committee Vacancy to be filled, Personnel mit recommendation re need and possible 10/1 appointee conformity Barker, C. S., salary not to be increased in 6/25 with Federal Employees Salary Act of 1948 4/16 Bartz, C. H., FRExaminer, salary increased Bender, William C., Asst. FRExaminer, appointment and 5/27 salary approved 12/10 increased salary Betts, Mrs. Margaret J., stenographer, Brown, Myrtle Pearl, stenographer, appointment on tem2/10 porary basis and salary approved 6 /25 Appointment made permanent 1/8 Brown, Willis G., FRExaminer, salary increased 3/11 311gg, Lawrence H., Asst. FREXaminer, salary increased . 9/2 increased salary Clark, John F., Asst. FRExaminer, 0 1/8 ooke, Robert W., Asst. FRExaminer, salary increased 5/27 increased salary r, Cowger, Anna Mae S., stenographe Dons, Fred A., FRExaminer, promotion from Asst. FRExaminer and salary increase approved, headquarters to be changed from Chicago to Washington, D. C., and reimbursement to be made for 3/18 moving expenses 4/16 increased salary Eager, L. P., Jr., Asst. FRExaminer, 5/19 Resignation accepted resignation Fischer, Charles E., Assistant FRExaminer, 3/17 accepted FRBank from loan Fisler, James V., assistant examiner on of Kansas City, extension of temporary 3/11 appointment and salary increase approved Federal with in conformity Salary to be increased 6/25 Employees Salary Act of 1948 increased, and salary permanent Appointment made credit to be given for annual]eave accumu10/27 lated at FRBank of Kansas City 1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1147 1932 1758 456 1932 700 1893 1932 1424 1318 1663 1038 594 869 2101 162 1049 27 351 1424 27 869 382 594 800 376 351 1038 1825 356 Pages Staff Of Board of Governors: (continued) Division of Examinations: (continued) Good, George E., FRExaminer, salary increased Goodman, Glenn M., services available for examination of National Bank of Haiti To participate in examination of National Bank of Haiti, and advance of funds approved Hagler, H. H., Asst. FRExaminer, salary increased Hart, John J., Asst. FRExaminer, salary increased Hostrup, Clarence C., Assistant Director, appointment and salary increase approved Howan, C. K., Asst. FRExaminer, resignation accepted, deduction to be made for overdrawn sick leave, and separation allowance approved Huxhold, Elmer, J., appointment as assistant examiner on temporary basis and salary approved Johnson, Malcolm F., appointment as Assistant FRExqminer and salary approved Kenyon, Kenneth A.) Asst. FRExaminer, salary increased Granted additional leave and reimbursement for expenses for 1948 session of Graduate School of Banking Appointment as FRExaminer and salary increase approved Kiley, John N., Jr., Asst. FRExaminer, salary increased Kipfstuhl, Edward F., appointment as assistant examiner on temporary basis and salary approved Lag, Arthur H., FRExaminer, salary increased Lassen, W. B., Asst. FRExaminer, salary increased Leonard, R. F.: Appointment as Director of Division of Bank Operations upon retirement of Mr. Smead and as Associate Director on September 1 approved, initial duties to be in connection with Regulation W Designated Chairman of Loyalty Board Examination reports of State member banks, to advise RFC of Board's view in connection with request, also FDIC and Comptroller of the Currency Member of committee to work on new Regulation W 4Yster, Elmer W., appointment as assistant examiner and salary approved Masters, Robert C., appointment as FRExaminer and salary approved, to be reimbursed for cost of moving household goods from Boston to Washington MeGeary, J. Earle, Asst. FRExaminer, salary increased Appointment as FRExaminer and salary increase approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/8 27 1/23 111 3/4 5/27 4/16 303 869 594 12/2 2/19 2028 236 7/7 1093 7/20 1/8 1135 27 1/14 65 12/2 9/2 2028 1424 2 9 7%7 5/27 10 X 869 8/17 1/6 1317 24 2/6 8/10 153 1261 3/11 350 11/12 9/2 1892 1424 12/2 2028 357 Pages Staff of Board of Governors: (continued) Division of Examinations: (continued) Millard, E. R., appointment as Director approved, appointment of successor as Assistant Director to be left open until return of Chairman McCabe Salary increase approved, to be effective when duties of Director are assumed Authorized to institute and conduct examinations of FRBanks for 1949 Morris, Ruth E., clerk-stenographer, transfer to Division of Research and Statistics without change in salary approved Murff, Gordon R., Examiner in charge of Road Force, salary increased Noell, J. C., salary not to be increased in conformity with Federal Employees Salary Act of 1948 Porter, Nancy R., Supervisor, Recording and Stenographic Section, salary increased Rachford, Philip C., appointment as Assistant FRExaminer and salary approved Radford, J. R., FRExaminer, salary increased Schaeffer, Lloyd M., Assistant FRExaminer, appointment and salary approved Schoenhoff, R. J., Assistant FRExaminer, salary increased Resignation accepted Scott, Frances, secretary to Mr. Millard, salary increased Severud, Esther, secretary to Mr. Sloan, salary increased Sloan, George S., Assistant Director, salary increased Salary increased Smith, Carl A., Asst. FRExaminer, salary increased Smith, J. C., FRExaminer, salary increased Smith, William D., FRExaminer, appointment made permanent and salary increased Stewart, Anne M., clerk, salary increased Thompson, A. N., FRExaminer, salary increased Additional payment on account in connection with Transamerica investigation approved Wilkes, M. R., services available for examination of National Bank of Haiti To be in charge of examination of National Bank of Haiti and advance of funds approved . Salary increased Williams, Geo., Asst. FRExaminer, salary increased Resignation accepted Williams, Jay W., Assistant FRExaminer, salary approved Zrin, Thelma, Stenographer, salary increased Zidek, Louis W., Asst. FRExaminer, salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8/17 1318 8/20 1348 12/9 2097 2/6 159 6/25 1049 6/25 1038 3/11 351 10/27 4/16 1826 594 4/26 652 1/8 3/15 27 365 9/2 1424 4/16 4/16 12/2 4/16 4/16 594 593 2028 594 594 6/25 7P 1/8 1049 1094 27 5/7 739 1/23 111 3/4 4/16 4/16 4/30 6/25 4/16 9/2 303 594 594 692 1049 594 1424 358 Pages Staff of Board of Governors: (continued) Division of Personnel Administration: Allen, Dwight L., Personnel Technician, salary increased Ayers, June E., Personnel Technician, salary increased Salary increased Braden, Mrs. Helen, substitute nurse, resignation accepted Chelberg, Nancy L., clerk-stenographer, salary increased Clements, Sylvia I., clerk-stenographer, salary increased Salary increased Crane, Betty, clerk-typist, resignation accepted Designated to conduct investigation of new employees and to request FBI to conduct full field investigations in connection with Employees Loyalty Program Johnson, H. A., designated liaison representative for contact by Civil Service Commission re loyalty boards and investigations Personnel Officer, to receive cards for donations to Police Boys' Club Designated to receive pledge cards for rebuilding fund of Salvation Army Authorized to make official visits to Federal agencies and outside organizations to obtain loyalty information, access to files of House Committee on Un-American Activities requested Fair Employment Officer, to continue service as, advice to Civil Service Commission Kilgore, J. Edward, Personnel Assistant, salary increased Leatherwood, Lois M., clerk-stenographer, salary increased Lohmann, M. R., Consultant, employment on temporary basis and salary approved, traveling expenses and per diem to be granted Malarkey, Mrs. Mary Virginia, clerk-stenographer, salary increased Markevich, Anna J., clerk-stenographer, appointment made permanent Salary increased ' Ielson, F. A., Director, salary increased Retirement allowances of FRBank employees, memorandum re authorization to increase Calarforth, Elaine L., Leave Clerk, salary increased s Appointment made permanent olley Harry B., Personnel Technician, salary increased 4"ompson, Mrs. Frances Margaret Moore, substitute nurse, appointment and compensation approved Wickline, M. Callie, Nurse, salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6/10 6/10 11/26 930 930 1982 12/10 6/10 2101 930 2/5 10/29 6/14 148 1834 948 1/6 20 1/6 24 1/13 62/ 5/11 756 5/12 758 11/10 1886 11/26 1982 2/5 148 4/9 565 3/31 491 4/16 5/27 4/29 595 870 689 12/23 2/5 4/16 2/5 2188 148 595 148 10/12 2/5 1747 148 359 Pages ff of Board of Governors: (continued) Division of Personnel Administration: (continued) Wolverton, Margaret H., Personnel Clerk, salary increased Wright, Mrs. Dorothy V., clerk-typist, transfer without change in salary from Division of Research and Statistics approved Division of Research and Statistics: Allen, Philip T., economist, salary increased Salary increased Alter, Gerald M., economist, appointment and salary approved Andrews, Ruby S., clerk, salary increased Arason, Mrs. Marylou, secretary to Mr. Knapp, resignation accepted Arnold, Helen B., clerk, salary increased Appointment made permanent Salary increased Assistant to Director in charge of Division current and special reports, editing, etc., establishment approved, Miss Burr to be assigned to position Assistant to Director in charge of Division personnel, administration, and regional research, establishment of position approved, Mr. Guy Emerson Noyes to be recommended for appointment Banner, Paul H., economist, appointment made permanent Salary increased Bean, Robert W., economist, salary increased Resignation accepted Boylan, Eleanor M., clerk, appointment on temporary basis and salary approved Brill, Daniel H., economist, salary increased Broida, Arthur L., economist, appointment made permanent Salary increased Brown, Bonnar, designation as alternate on Loyalty Board Assistant Director, to be available for work on committee on consumer credit statistics proposed by Mr. Beckman Member of committee to work on new Regulation W To assist in work on Regulation W until resignation, advice to FRBanks Resignation accepted Brown, Weir M., economist, salary increased Resignation accepted Bruderer, Doris, clerk-stenographer, salary increased Burgess, Caroline, Library Assistant, salary increased Burr, Susan S., Chief, Business Finance and Capital Markets Section, salary increased Assistant to Director, assignment to position and salary increase approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10/29 1834 7/20 1136 4/16 12/16 592 2137 7/16 12/9 1125 2093 5/20 3/18 4/16 9/14 807 382 593 1504 10/12 1745 10/12 4/16 4/16 6/10 8/26 1744 593 592 929 1390 8/10 6/25 4/16 10/11 1/6 1263 1050 593 1734 24 7/6 8/10 1090 1261 9/10 10/11 1/29 6/18 5/27 2/19 1478 1733 127 970 867 236 1/2 10/12 2 1745 Ste.ff .Of Board of Governors: (continued) Division of Research and Statistics: (continued) Cagle, Mrs. Caroline Hammill, economist, resignation accepted Carrick, Elsie N., clerk-stenographer, appointment made permanent Assigned on temporary basis to Office of Mr. Szymczak without change in salary Salary approved Transfer to Office of Mr. Szymczak without change in salary approved Chapin, Harold E., economist, granted leave without pay for treatment for illness Salary increased Cheadle, H. L., economist, appointment made permanent Salary increased Churchill, John B., research assistant, appointment made permanent Resignation accepted Clarke, Mary T., clerk-stenographer, salary increased Cleaver, George H., economist, salary increased Coone, Mrs. Melba M., clerk, resignation accepted Cooper, Sophia, research assistant, appointment made permanent Resignation accepted Copeland, Morris, resignation to be effective at end of year, recommendation to be made for services on part-time consulting basis Designated as Consultant for 1949, compensation and travel expenses approved Resignation accepted Cox, Mrs. Florence R., clerk-stenographer, salary increased Crawley, Mrs. June E., clerk, appointment on temporary basis and salary approved Crews, Esther G., clerk, salary increased Dembitz, Lewis N., Chief, International Financial Operations Section, salary increased Report on NAC developments Report re ERP given at Board meeting, report re Mexican exchange rate and currency to be given at later meeting Report on ECA problems, change in Mexican exchange rate, and developments in Latin American countries DiPpre, Doreen, clerk-stenographer, salary increased Transfer to Secretary's Office with salary increase approved Duarte, Genevieve Gilardi, Clerk, salary increased , Salary increased Helen R., Library Asst., salary increased trnst, Rosa, Research Assistant, salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PaZ 5/14 786 4/16 593 16 ln(2) 1893 12/10 2100 4/27 11/26 8/6 8/13 678 1982 1245 1281 4/16 7/12 6/25 6/10 2/12 1105 1050 930 170 593 4/16 593 5/6 708 10/12 1746 12/13 12/21 2112 2171 3/5 323 10/27 6/25 1825 1050 2/19 7/15 236 1119 8/10 1252 8/20 1339 2/19 236 9/15 1/2 12/22 2/19 2/19 1507 2 2180 236 236 Staff _ ,.0? Board of Governors: (continued) ulvlsion of Research and Statistics: (continued) 11/26 Evans, Ethel L., clerk, salary increased Exter, John, economist, extension of itinerary approved, 3/26 advice re Shanghai and Tokyo 5/14 mission ine Report of Philipp 5/14 Salary increased per $12 and ce insuran Payment of claim for flight 6/1 diem while in Shanghai approved n luncheo at used be to tion Memorandum with informa meeting with Philippine Secretary of 7/13 Finance Cuaderno conin s service for Request of Secretary Cuaderno nection with research division of Philippine 9/21 Central Bank, not approved conin s service for Cuaderno ry Request of Secreta nection with Philippine Central Bank, to be considered after end of year, advice to 10/5 Secretary Cuaderno to advice , present at Request not to be granted 10/18 Secretary of State legisbanking central of To assist in preparation 10/19 lation in Ceylon ion informat nal additio Ceylon, Loan of services to re sent to State Department for transmis11/17 sion to Ceylon Government Ceylon to trip with on connecti Advance of funds in 12/2 approved 8/6 t permanen Pauver, Clarke L., Economist, appointment made 12/22 Salary increased Ficks, Louis G., salary increase not in conformity with 6/25 Federal Employees Salary Act of 1948 Foreign Areas Section, temporary assignments of members 6/23 to work with ECA approved 2/19 Fowler, Gretchen, clerk, salary increased ent appointm PDX, Charles E., Jr., research assistant, 8/6 made permanent 9/30 Salary increased 10/29 Prase, Eleanor S., economist, salary increased Freedman, Loretta, clerk, appointment on temporary basis 6/4 salary approved 10/13 Furth, J. Herbert, economist, salary increased 11/18 Salary increased 6/25 Garber, Margaret R., clerk, salary increased ns Garfield, Frank, Chief of Domestic Business Conditio 10/12 Section, change in grade approved 10/22 Salary increased e Designated as Board representative on committe working on National Resources and Foreign 10/26 Aid study http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 361 Pages 1982 456 781 784 893 1113 1540 1703 1775 1780 1932 2027 1245 2180 1038 1017 236 1245 1645 1833 899 1754 1939 1050 1746 1805 1816 Staff Of Board of Governors: (continued) Division of Research and Statistics: (continued) Garfield, Frank: (continued) Designated representative to assist National Security Resources Board in study of domestic and foreign economic fields for use in mobilizaticn planning Gehman, Clayton, economist, salary increased Gerschenkron, Alexander, Chief, Foreign Areas Section, salary increased Resignation accepted To assist with orientation of new employee, compensation and travel expenses approved Gilbert, Mack, Jr., messenger, appointment on temporary basis and salary approved Appointment made permanent Gillis, Harry A., Jr., salary increased Appointment made permanent Salary increased Gilman, Laura M., economist, appointment made permanent Salary increased Glass, Mrs. Jennie Lee, clerk, appointment on temporary basis and salary approved Salary increased Goldenweiser, E. A., ceiling plan for reserve require meeting at discuss to asked ments, to be of Board Ceiling plan for reserve requirements, invited to discuss with Board on December 17 Reserve requirements, ceiling plan discussed by, summary of remarks placea in files, no objection to distribution To be continued on list of consultants with no change in compensation and travel allowance Grant, John B., reimbursement approved for deposit on cottage forfeited in order to assist Board in work on Regulation W Grether, Carrie V., research assistant, appointment on temporary basis and salary approved Grimball, Georgiana B., clerk, appointment on temporary basis and salary approved Gritz, Mrs. Lillian Schiller, clerk-stenographer, resignation accepted Grossman, Gregory, economist, appointment on temporary basis and salary approved Grove, David L., extension of itinerary approved, advice re Shanghai and Tokyo Report of Philippine mission Salary increased Payment of claim for flight insurance and $12 per diem while in Shanghai approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 362 Pages 11/10 10/13 1889 1754 2/19 8/6 236 1246 12/8 2090 1/21 8/6 2/5 4/16 11/18 8/6 11/26 94 1246 147 593 1939 1245 1982 9/14 10/22 1503 1805 11/17 1931 11/22 1953 12/17 2151 12/13 2113 9/22 1599 10/13 1755 7/21 1140 1/2 3 10/8 1726 3/26 5/14 5/14 456 781 785 6/1 893 Staff of Board of Governors: (continued) Division of Research and Statistics: (continued) Grove, David L.: (continued) Brazilian Mission, question of availability of 7/15 services for, letter to Mr. Southard assist to months six for pay Granted leave without 9/21 in setting up Philippine Central Bank up setting in assist to Granted leave without pay Philippine Central Bank, advice to Secre10/5 tary Cuaderno , organization in assist to Bank, Philippine Central 10/18 advice to Secretary of State 11 /18 Salary increased increased 4/16. salary Draftsman, Grunwell, Helen R., Chief Haller, Betty Jane, clerk-stenographer, appointment on 2/5 temporary basis and salary approved 5/27 increased salary clerk, Halvorsen, Ruth J., 9/9 accepted Resignation Hamilton, Louise Marrick, clerk-typist, appointment on 12/31 temporary basis and salary approved perde appointmentna messenger, Hardy, William Edward, 4 /14 9/ 16 manent Salary increased 1/2 Harley, C. R., Economist, salary increased financial and economic study Trip to United Kingdom to 4/2 . developments approved leaving as made be to Trip to United Kingdom not 5/7 Board 6/7 Resignation accepted 11/26 Hemminger, Tressa B., secretary, salary increased salary r, -stenographe Hempstead, Evelyn L., clerk 6/25 increased foreign of member as serve to Hersey, A. B., economist, 5/10 mission to Japan To be member of mission to Japan, discussion of per diem allowance, to be increased if proved 5/14 inadequate Granted advance of funds in connection with trip to 5/14 Japan 6/22 Summary of current economic situation in Japan To serve as member of technical staff of Brazilian 8/13 mission 10/13 Salary increased staff to assignment for of time Granted extension of U. S. delegation on Joint Brazil-U. S. 12/15 Technical Commission Hinrichs, Barbara Louise, research assistant, appointment on temporary basis and salary approved 12/13 Hnsham, 11/12 Randall, economist, salary increased Ilirschman, Albert 0., proposed trip to France and Italy to visit central banks, discussion, Messrs. Thomas and Knapp to discuss matter with 4/2 Mr. Thorp of State Department http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 363 Pages 1120 1540 1703 1775 1939 592 148 867 1471 2265 94 50 15 3 2 527 723 902 1982 1050 747 782 787 986 1284 1754 2128 2112 1893 523 364 Pages Staff of Board of Governors: (continued) Division of Research and Statistics: (continued) Hirschman, Albert O.: (continued) Trip to France and Italy approved, traveling expenses 868 5/27 to be paid work for ECA with work part-time To be assigned for 956 6/16 concerning France and Italy formal Paris, in stay during Loan of services to ECA 10/13 1755 request to be considered favorably 11/18 1939 Salary increased 236 2/19 Hodge, Verna L., Library Assistant, salary increased 6 25 / 1050 increased Hodson, Viola A., clerk, salary Holthausen, Duncan McC., economist, salary increased V/16 ; 151 Resignation accepted 11/26 1982 increased salary assistant, Hurley, A. Regina, library International Section, review of salaries and organization to be made by Mr. Johns working with Messrs. Thomas and Nelson and in collabora6/11 938 tion with Messrs. Morrill and Riefler workin used be to discussed, Johns Report by Mr. ing out problems of organization and classi1092 7/7 fication of employees of ion classificat future Organization structure and 2152 senior positions to higher grades approved 12/17 on appointment -typist, Jacobus, Eileen Katherine, clerk 8/6 1246 temporary basis and salary approved 6/25 1050 increased 'Taffy, Florence, economist, salary 1939 11/18 Salary increased Jeffries, Ardith E., clerk-typist, appointment on tem900 6/4 porary basis and salary approved 8/25 1381 Resignation accepted 299 3/3 Johnson, Anne W., clerk, resignation accepted insalary er, -stenograph Johnson, Patricia V., clerk 1982 11/26 creased 3/25 447 Jones, Mrs. Monica F., clerk, salary increased 4/16 593 permanent made Appointment Kane, Dorothy J., clerk-stenographer, appointment 593 made permanent 696 6 tA Resignation accepted Katz, Samuel I., economist, appointment on temporary 7/2 1076 basis and salary approved resignation assistant, Kelenson, Mrs. Dora A., research 798 5/18 accepted Kiehn, Otto G., Jr., research assistant, appointment 4/16 593 made permanent 6/25 1050 Salary increased 1825 10/27 Resignation accepted 0 1 / 6 Klaman, Saul B., economist, salary increased 12/16 0 Salary increased Knapp, J. Burke, Assistant Director, European Recovery bill, provisions outlined and purposes discussed by http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3/19 387 365 Pages hafP 4 of Board of Governors: (continued) Division of Research and Statistics: (continued) Knapp, J. Burke: (continued) 388 3/19 NAC activities, report of 782 5/14 situation Report on international 5/24 831 Resignation accepted on appointment r, -stenographe Knouse, Helena C., clerk 9/16 1513 temporary basis and salary approved 5/27 867 increased salary Koch, Albert R., economist, SecMarkets Capital Chief, Business Finance and tion, appointment without change in grade 10/12 1745 approved resignation draftsman, Kunze, Mrs. Margaret M., 10/20 1790 accepted 9/14 1504 increased salary pist, Lacey, Beverly C., clerk-ty 12/20 2157 Resignation accepted 10/29 increased 1834 salary r, -stenographe clerk Lambert, Virginia, from transfer assistant, Langham, Lee W., research Division of Administrative Services without 2193 12/23 change in salary approved 8/6 1247 increased salary assistant, Levinson, Sylvia, research Lichens, Dorothy J., research assistant, salary in1939 11/18 creased appointment assistant, Lichtenberg, Caroline, research 4/16 593 made permanent 8/13 1281 Salary increased Lupton, Helen A. Asst. Chief Draftsman, salary in592 4/16 creased consultants of list on Lutz, Friedrich A., to be continued with no change in compensation and travel 2113 12/13 allowance 785 5/14 increased salary assistant, MacLean, Lucile R., library 1050 6/25 increased salary Maroney, Mary M., economist, 592 4/1) McCormick, Mary P., draftsman, salary increased 1 : 9 f / V increased salary r, -stenographe McDonald, Mary E., clerk Resignatm accepted appointment r, -stenographe clerk Ann, McMahon, Elizabeth 1487 9/10 on temporary basis and salary approved Mickelsen, Patricia Anne, clerk, appointment on temporary 926 6/9 basis and salary approved 4/16 593 Miller, Mary Florence, clerk, appointment made permanent 4/16 592 Salary increased 4/16 permanent 593 made appointment Miller, Merton H., economist, 1281 8/13 Salary increased Moeller, Joan M., clerk, appointment on temporary basis 6/18 969 and salary approved Moore, A. Jane, economist, appointment on temporary 9/23 1601 basis and salary approved 5/27 867 increased salary Morella, Wilellyn, economist, Morris, Ruth E., clerk-stenographer, transfer from Division of Examinations without change in 2/6 159 salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Starf of Board of Governors: (continued) Division of Research and Statistics: (continued) Morris, Ruth E.: (continued) Salary increased 10/29 Morse, Chandler, to be continued on list of consultants with no change in compensation and travel 12/13 allowance Morse, M. Elva, clerk, salary increased 3/18 Appointment made permanent 4/16 Salary increased 9/14 Moss, Milton, economist, salary increased 10/13 Murphy, Mary, clerk-typist, salary increased 11/26 Musgrave, Richard A., consultant, services to be used in preparation of report re wartime economic stabilization, compensation and travel ex10/1 penses approved To be continued on list of consultants with no change in compensation and travel allowance 12/13 Neill, John H., Jr., administrative assistant, salary 3/31 increased 11/26 Salary increased 11/26 Nelson, Elsie T., research assistant, salary increased Nixon, Mrs. Florence Guild, economist, resignation 5/6 accepted Noyes, Guy Fmerson, to be recommended for appointment to new position of Assistant to the Director 3.0/12 10/20 Appointment and salary approved 2/19 Offutt, Mary G., clerk, salary increased 4/16 Appointment made permanent 3/18 Olson, Ernest C., economist, salary increased 4/16 Appointment made permanent Organization of staff, proposed change discussed but not recommended by Personnel Committee, Mr. McCabe to discuss matter further with 4/23 Mr. Thomas and Personnel Committee 10/12 Organization, changes approved Parker, Harrison, Research Assistant, appointment on 10/27 temporary basis and salary approved Parrish, Sara Josephine, clerk-typist, appointment on 4/5 temporary basis and salary approved 5/18 Resignation accepted Fawley, Francis R., Economist, transfer from Division of Security Loans and salary increase 3/23 approved Services to be used by Division of Bank Operations In connection with Eegulation W work until 10/28 June 30, 1949 11/26 Salary increased Powers, William J., research assistant, appointment on temporary basis and salary approved 5/14 Winofred, clerk, salary increased 3/5 Iteed,4/16 Samie, messenger, appointment made permanent http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 366 Pages 1834 2113 382 593 1504 1754 1982 1665 2113 490 1981 1982 17 74 08 5 1789 236 593 381 593 647 1744 1825 533 798 417 1829 1981 785 322 593 Nxf of Board of Governors: (continued) Division of Research and Statistics: (continued) Reeves, Mrs. Dorothy D., secretary to Mr. Young, granted 5/20 extension of leave without pay Reil, Katharyne P., economist, salary increased 4/16 3/5 Rennie, Robert A., economist, salary increased 9/23 Resignation accepted Reports and recommendations, submission and distribution by, no action to be taken until meet10/8 ing with Mr. Evans present Submission and distribution, procedure recommended by Mr. Evans, memorandum to be prepared by Secretary, and after approval by Board to 10/15 be read to Mr. Thomas by Chairman McCabe 8/12 Richards, Louise, clerk-typist, resignation accepted Ryan, Mary Madeline, clerk, appointment on temporary 3/16 basis and salary approved 2/19 Ryhal, Rita, clerk, salary increased 4/16 Appointment made permanent 1/16 Schmidt, Charles H., economist, salary increased 4/16 Appointment made permanent 8/6 Salary increased 6/25 Schweiger, Irving, economist, salary increased Sencindiver, Mrs. Anne Campbell, draftsman, appointment 11/12 on temporary basis and salary approved 10/29 Sette, Elizabeth B., economist, salary increased 5/27 Shepherd, Ileen C., clerk, salary increased Sherrard, Alfred, economist, loan of services to State 3/23 Department approved Loan of services to State Department, assignment not to be accepted because of domestic 3/29 situation 3/18 Salary increased 8/30 Resignation accepted Sigel, Stanley J., economist, appointment made permanent 4/16 6/25 Salary increased Smith, Nancy J., clerk-stenographer, appointment on 6/18 temporary basis and salary approved 8/6 Salary increased 2/19 Smith, Thomas Lee, Economist, salary increased Fiscal Agency Conference at Swampscott, Mass., 4/1 to be attended by 8/6 permanent made Solomon, Robert, economist, appointment 12/22 South, Dorothy I., economist, salary increased Associate Southard, Frank A., Jr., appointment as Director in charge of international activities, discussion of, Mr. McCabe authorized 6/25 to negotiate with 6/28 salary Appointment and approved 7/6 of Acceptance appointment Council's Research Social Science Membership in Committee on Social Science Personnel 10/15 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 367 Pages 807 592 322 1601 1725 1768 1272 370 236 593 81 593 1247 1050 1891 1833 867 430 473 382 1400 593 1050 969 1247 236 495 1245 2180 1047 1053 1083 1768 Staff of Board of Governors: (continued) Division of Research and Statistics: (continued) Southard, Frank A., Jr.: (continued) Member of committee to make recommendation re 10/19 assistance of staff in foreign missions formuto ECA Designated representative to work with late plans for legislative oroposals for 1949-50 European hecovery Program, advice 11/22 to Mr. Hoffman of Report on international situation, discussim economic developments in Japan and opera12/21 tions under ECA 5/27 Stanley, Betty Ann, clerk, salary increased 4/16 Steidel, Lois I., clerk, appointment made permanent 6/25 Salary increased 8/17 accepted resignation Stettner, Walter F., economist, 6/25 Stohlman, Mae J., clerk-stenographer, salary increased 7/21 accepted Resignation 4/16 Stone, Ruth D.,secretary to Mr. Brown, salary increased 8/6 increased salary librarian, Alvern H., Sutherland, Swindlehurst, Alice, clerk, transfer from Division of Security Loans without change in salary 3/23 approved 11/26 Salary increased Tallent, Mrs. Alice Lucille, clerk-stenographer, appointment on temporary basis and salary approved 10/23 8/6 Tamagna, Frank M., economist, salary increased Thomas, Woodlief: Authorized to attend meeting at White House to state recommendations of Board re authority to regulate consumer credit and to increase reserve 7/23 requirements reouirereserve in increases Considerations re further 11/23 ments, discussion of memorandum European recovery program and military service as outlined in Presidents' message to Congress, memo re situation that may result to be prepared for use of Chairman Eccles in hearings before Joint Committee on Economic 3/19 Report Bureau at meeting on report Legislative program, 11/16 of the Budget economic on statement draft to Member of committee 10/12 basis of Federal Reserve policy Member of committee to make recommendation re 10/19 assistance of staff in foreign missions Member of committee to prepare alternative proposals 11/17 of legislation Reserve reouirements, increase, memo to be prepared re Treasury position and reserve position of central reserve city banks for first Quarter 1/6 of 1948 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 368 Pages 1783 1954 2165 867 593 1050 1320 1050 1140 592 1245 417 1982 1789 1245 1154 1967 390 1924 1744 1783 1931 15 State of Board of Governors: (continued) Division of Research and Statistics: (continued) Thomas, Woodlief: (continued) Reserve requirements and Reserve Bank credit, memo re prospective changes 1/9 Reserve requirements, increase proposed, review of situation by 7/23 Reserve position of central reserve city banks, memorandum on 5/14 Reserve requirements, statement re further increase at present, not necessary 12/3 State of Union message and Economic Report, material to be prepared by 11/17 Statement of Board in response to statements of FAC, draft presented by 9/21 To assist in preparation of statement re topics submitted by FAC 9/20 To prepare memo re credit controls if needed for President's message to special session 7/20 of Congress To select representative from Division at meeting 7/20 on housing if called by Mr. Pace To serve as member of Interdepartmental Advisory Committee on Plans and Programs, advice to Mr. Hill, Chairman of National Security 5/25 Resources Board To speak on current monetary problems at Annual Convention of Council of Insured Savings Associations of New York State 4/23 To testify before Joint Committee on Economic Report on uniform reserve requirement 5/24 proposal Treasury policy re balances in war loan accounts, to discuss matter with Mr. Rouse before 12/3 working out program with Mr. Bartelt Thompson, Donald S., authorized to sign correspondence over title "Acting Associate Director" 5/27 while on temporary duty To be brought from FRBank of Cleveland to assist with work for temporary period, expenses 5/20 to be borne by FRBank of Cleveland 7/22 Thompson, Helen M., clerk, salary increased Thompson, Janet R., clerk, appointment on temporary basis 7/2 and salary approved Extension of temporary appointment without change 10/6 in salary approved 5/27 Thompson, Orville K., economist, salary increased Tlnkelenberg, Mrs. Joan G., clerk-typist, resignation 4/8 accepted 11/26 Townsend, Elva H., clerk, salary increased 5/14 Prescott, Charles G., Library Aid, salary increased 369 Pages 4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 38 1151 780 2033 1930 1539 1530 1131 1134 848 644 830 2034 868 807 1147 1077 1709 867 559 1982 785 370 Pages Staff of Board of Governors: (continued) Division of Research and Statistics: (continued) Trueblood, Lorman, economist, salary increased Truitt, June A., clerk-stenographer, salary increased Appointment made permanent Salary increased Valentine, Franc S., clerk-stenographer, salary increased Secretary to Mr. Southard, salary increased Vandoren, Patricia Anne, clerk-stenographer, appointment made permanent Salary increased Vicars, Mary M., clerk-stenographer, salary increased Resignaticn accepted VAtts, Mrs. Ardith D., clerk, appointment on temporary basis and salary approved eaver, Mary F., clerk, salary increased 1A'einer, Louis, economist, ap)ointaant made permanent Salary increased Wernick, Murray S., economist, salary increased Whaley, Mildred L., clerk-stenographer, appointment on temporary basis and salary approved White, Mary, clerk, salary increased White, Melvin I., economist, appointment on temporary basis and salary approved R., clerk, resignation accepted Mary Wilkinson, Mrs. Alice h., clerk, appointment on temporary basis and salary approved Appointment made permanent Salary increased Williams, Kenneth B., Chief, National Income and Labor Section, salary increased Assignment effective upon resignation of Mr. Copeland Designated as alternate to Mr. Garfield in work with National Security hesources Board in study of domestic and foreign economic fields for use in mobilization planning 1100d, Ramsay, to be designated to work with Mr. Draper in connection with discussions of housing legislation Wright, Dorothy V., clerk-typist, salary increased Appointment made permanent Transfer without change in salary to Division of Personnel Administration approved S., clerk, appointment on temporary Lucille Mrs. Young, basis and salary approved Young, Ralph A. Associate Director: Advance of funds for tour of meat industry approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/22 5/27 8/6 11/26 2180 868 1246 1982 5/27 10/29 868 1834 4/16 5/27 9/14 11/10 593 868 1504 1885 12/10 6/25 4/16 12/17 12/28 2100 1050 593 2153 2227 10/25 6/25 1810 1050 8/11 6/18 1266 970 1/2 8/6 12/31 2 1246 2265 1/2 2 10/12 1745 11/10 1889 5/18 3/18 4/16 791 382 593 7/20 1136 8/25 1381 10/13 1757 371 Pages Staff of Board of Governors: (continued) Division of Research and Statistics: (continued) Young, Ralph A.: (continued) 11/9 Central banking seminar proposed in memorandum of Governof policies Council to coordinate domestic ment lending agencies, to report on in12/21 formal conference re for means To assist in preparation of letter re 12/21 coordination of domestic policies trip with Granted advance of funds in connection 5/14 to Japan Interof Proposed transfer to position in charge 6/25 national Section, discussion of exof Report on mission to Japan to make survey 6/22 change rates central in banks member Reserve requirements of reserve cities, material re to be prepared 8/6 for use in discussion at Board meeting 8/24 situation and credit Statement on business of head as Knapp Mr. of duties that Suggestion international section be taken over by, Board members to be advised of proposed 6/1 action, statement of Mr. Eccles To assist in preparation of statement re topics 9/20 submitted by FAC committee To be alternate for Mr. Riefler on 9/14 making study of savings 8/26 Bach To discuss report on Board with Mr. 5/10 To serve as head of foreign mission to Japan diem per To head mission to Japan, discussion of 5/14 allowance and Armour Tour of meat industry as guest of Company approved, expenses to be paid by 9/21 Board of member as Youngdahl, C. Richard, designation 1/6 Loyalty Board 2/5 Salary increased Div ision of Security Loans: Brannic, Otto, messenger, to be assigned to other posi3/23 tion after discontinuance of Division Services Transfer to Division of Administrative as Operator (Duplicating Devices) without 3/29 change in salary approved Divito transfer Durkan, Mary M., clerk-stenographer, sion of Bank Operations as analyst and 2/13 salary increase approved for application Parry, Carl E., Director, retirement, 3/8 optional filed 3/23 Retirement of Pawley, Francis R., transfer to Division of Research and Statistics as Economist and salary 3/23 increase approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1875 2162 2168 787 1047 986 1243 1373 892 1530 1501 1387 747 782 1542 24 147 417 474 183 329 416 417 372 Pages Ntf of Board of Governors: (continued) Division of Security Loans: (continued) Schmidt, Catherine L., Secretary to Mr. Parry, to be assigned to other position after discon3/23 tinuance of Division as Services Transfer to Division of Administrative stenographer without change in salary 3/31 approved of Swindlehurst, Alice, clerk, transfer to Division Research and Statistics without change in 3/23 salary approved To be discontinued upon retirement of Dr. Parry and 3/23 staff to be transferred Elevator operators: 3/31 Glover, Hazel M., salary increased 6 4/1 Appointment made permanent 12/20 Resignation accepted 3/il Lewis, Evelyn M., salary increased 1/8 Mock) Fannie L., salary increased 4/16 Appointment made permanent 1/29 Tobler, Nellie Gray, salary increased 4 4(aillining physicians: ' Barr, Dr. E. Osmun, discontinuance of arrangement with, 5/21 approved Discontinuance of arrangement for physical examina6/10 tions for Board, advice to 5/21 a Chapman, Dr. Frederic D., employment and fees approved l'cluP life insurance, memo of Mr. Bass on experience for 8/9 past years and setting up reserve Guards: Beaton, Edward N., appointment on temporary basis and 2/20 salary approved 10/11 Appointment made permanent Becker, William F., appointment on temporary basis and 6/8 salary approved 10/11 Appointment made permanent Bertol, L. N., Captain, services in connection with examination of National Bank of Haiti, 1/23 mentioned as possibility 1/8 Clabaugh, Charles D., Jr., salary increased 2/18 Resignation accepted 11/12 Cook, Thomas G., salary increased 8/6 Deakins, Thomas R., salary increased 4/16 Florea, Hiram H., appointment made to permanent 8/25 Salary increased 5/27 Langham, Lee W., Sergeant, salary increased Reof Transfer as research assistant to Division search and Statistics without change in 12/23 salary approved basis McDonald, William R., appointment on temporary 2/20 and salary approved 10/11 Appointment made permanent http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 417 491 417 416 492 595 2157 352 28 595 128 825 930 824 1249 245 1733 920 1733 111 28 222 1893 1247 595 1382 871 2193 245 1733 Staf f of Board of Governors: (continued) Guards: (continued) 12/23 Shaker, Richard, appointment and salary approved 6/4 Smoot, William E., resignation accepted 4/28 Tobler, Herman Lee, salary increased 4/28 Unger, B. M., Sergeant, salary increased Laborers: Cassidy, Alton V., appointment on temporary basis and 1/15 salary approved Loans from FRBanks: Thompson, Donald S., to be brought from FRBank of Cleveland to assist with work for temporary period, 5/20 expenses to be borne by FRBank an of employees: Division of Research and Statistics, members of Foreign Areas Section to work on temporary assign6/23 ments with ECA economist, to be assigned for Hirschman, Albert O., 6/16 part-time work with ECA Sherrard, Alfred, economist, loan of services to State Department approved 3/23 Loan of services to State Department, assignment not to be accepted because of domestic situation 3/29 Me ssengers: Branic, Otto, to be assigned to other position after dis3/23 continuance of Division of Security Loans as Services Transfer to Division of Administrative Operator (Duplicating Devices) without 3/29 change in salary approved Transfer from Division of Administrative Services 4/29 to Chairman's Office 12/22 Salary increased Brown, Fletcher E., appointment made permanent and 6/10 salary increased 4/28 Bundy, Herbert W., appointment made permanent 11/12 Salary increased Frost, Frederick L., appointment and salary approved as messenger in Mr. Szymczak's office, if services terminated Board not to be com5/6 mitted to transfer to another position and Gilbert, Mack, Jr., appointment on temporary basis 1/21 salary approved 8/6 Appointment made permanent Hardy, William Edward, appointment made permanent t/16 4 Salary increased 4/ 2 7 IlunleY, John H., salary increased 12/24 %Jamison, Michael L., salary increased Lane, Daniel F., transfer to Division of Administrative Services as Operator (Duplicating Devices) 5/6 without change in salary Lunches served in Board members' offices, opposition of Mr. Vardaman to use for, discussion but no 3/9 action taken to change procedure http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 373 Pages 2194 900 683 683 68 807 1017 956 430 473 417 474 690 2180 929 682 1893 707 94 1246 1559 04 3 678 2199 707 337 374 Pages Staff of Board of Governors: (continued) Messengers: (continued) 4/16 Reed, Samie, appointment made permanent 11/12 Rogers, Edward D., salary increased Military service under Selective Service Act of 1948, 10/25 policy adopted Nurses: 12/10 Braden, Mrs. Helen, resignation as substitute approved Thompson, Mrs. Frances Margaret Moore, substitute, ap10/12 pointment and compensation approved Office of the Chairman: Bopp, Karl R., to testify before Joint Committee on Economic Report on proposal for uniform 5/24 reserve requirements Branic, Otto H., transfer from Division of Administra4/29 tive Services as messenger Johns, Delos C., FRBank of Kansas City, to work at Board for 60 to 90 days, salary and expenses to be paid by Bank except for 4/29 official travel during stay at Board working Section, To make survey of International with Messrs. Thomas and Nelson and in collaboration with Messrs. Morrill and 6/11 Riefler days 90 Loan of FRBank officer for period of from 60 to 4/23 to work in, suggested plan of Mr. McCabe Riefler, Winfield Y., Assistant to the Chairman, appoint4/19 ment and salary approved Foreign mission to Japan, mentioned as possible 5/10 selection for Report on Economic To testify before Joint Committee on proposal for uniform reserve requirements 5/24 Selected as third member of Editorial Committee of 5/25 Staff to succeed Mr. Parry meeting re report legislation, company Bank holding 6/8 at Treasury to discuss International of on Johns survey Mr. with work To 6/11 Section Office of Mr. Clayton: Bundy, Herbert W., messenger, appointment made permanent 4/28 Cotten, Mrs. Annie I., secretary, salary increase not in conformity with Federal Employees Act of 6/25 1948 Office of Mr. Draper: Dellatorre, Mrs. Mary B., stenographer, salary increased 5/27 12/24 Jamison, Michael L., messenger, salary increased Trivett, Gertrude F., stenographer, transfer on tem12/24 porary basis and salary increase approved Office of Mr. Eccles: Arnold, Mrs. Mary Rose, stenographer, transfer from Division of Administrative Services and salary 3/31 increase approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 593 1893 1810 2101 1747 830 690 690 938 648 604 746 830 845 915 938 682 1039 866 2199 2198 491 375 Pages of Board of Governors: (continued) St •ELff Office of Mr. Eccles: (continued) Arnold, Mrs. Mary Bose: (continued) 12/10 Salary increased increased be to not salary secretary, Egbert, Va Lois, in conformity with Federal Employees Act 6/25 of 1948 (See also Office of Chairman) Office of Mr. Evans: 3/25 Westman, Elsie M., secretary, salary increased Office of Mr. McCabe: Benton, Madeleine E., secretary, transfer and salary 10/13 increase approved to ChairAssistant ive Administrat Coleman, Philip E., 4/14 man, appointment and salary Office of Mr. Sgymczak: Carrick, Mrs. Elsie N., clerk-stenographer, assigned on 9/30 temporary basis without change in salary Transfer from Division of Research and Statistics 12/10 without change in salary approved salary and appointment messenger, L., Frederick Frost, approved, if services terminated Board not to be committed to transfer to another posi5/6 tion 3/29 Kinney, Theodosia M., stenographer, resignation accepted Lane, Daniel F., messenger, transfer to Division of Administrative Services as Operator (Dupli5/6 cating Devices) without change in salary 3/10 Newcome, Elqyr D., Secretary, salary increased Templeton, Loverne, stenographer, physical examination, 5/24 fee to be paid by Board Transfer from Division of Administrative Services 5/6 and salary increase approved 9/24 Resignation accepted Office of Mr. Vardaman: Brown, Fletcher E., messenger, appointment made per6/10 manent and salary increased 3/5 increased Hoffman, Dorothy, secretary, salary 9/22 Salary increased 9/22 Thomas, Laura K., stenographer, salary increased conare changes when Official, procedure to be followed templated, to be discussed when all members 6/1 of Board are present 11/19 approved Board informing Absences, procedure for Outside business and teaching activities of, discussion of questionnaires and of three special cases, 1/23 staff to be notified of Board's position 3/24 policy re employees Memorandum to Pages: Buck, Mrs. Ruth I., appointment on temporary basis and 2/18 salary approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2100 1039 446 1754 582 1644 2100 707 473 707 346 831 707 1614 929 322 1591 1591 891 1950 103 441 221 376 Pages Staff of Board of Governors: (continued) Pages: (continued) Buck, Mrs. Ruth I.: (continued) Appointment made permanent Resignation accepted, reimbursement to be made for overdrawn annual leave Collison, Mrs. Dessie Adena, appointment and salary approved Elliott, Lois, appointment and salary approved Resignation accepted Henn, Margaret J., appointment and salary approved McPherson, Mrs. Vivian D., resignation accepted Morley, Rachael, appointment and salary approved Reamey, Dorothy, salary increased Spitsberger, Mary Ellen, appointment and salary approved Wiesner, Cecile C., appointment made permanent Salary increased Wike, Mabel E., appointment made permanent Transfer to Secretary's Office as file clerk and salary increase approved Personnel matters, procedure approved for appointments, classification of positions, and salary changes Reception for all employees, payment approved Salaries, increase to be recommended by Chairmen's Conference committee to Congress, through FAC, Board not in favor of, executive committee of Chairmen's Conference to be advised To be increased in conformity with Postal Rate Revision and Federal Employees Salary Act of 1948, if signed by President Secretary's Office: Agadjanian, Mrs. Portia Rohwer, file clerk, appointment on temporary basis and salary approved Bates, Cornelia A., file clerk, salary increased Beale, Loretta D., file clerk, salary increased Beeson, Adaline h., file clerk, salary increased Bowes, Elizabeth A., file clerk, appointment on temporary basis and salary approved Resignation accepted Brennan, John C., General Assistant, salary increased Brawl Lillie B., file clerk, salary increased Burton, Frances A., file clerk, salary increased Carpenter, S. H.: Meetings of Board, memorandum on procedure for expediting consideration of matters on agenda Member of committee to work on new Regulation W Member of committee to draft statement on economic basis of Federal Reserve policy Member of committee to prepare alternative proposals of legislation http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4/16 595 9/9 1472 10/20 6/15 9/9 7/1 2/17 9/22 1790 952 1472 1068 219 1591 4/28 683 11/26 4/16 5/27 4/16 1982 595 871 595 6/30 1063 12/3 6/15 2036 1/9 953 41 6/25 1037 10/7 8/6 8/6 4/16 1714 1247 1247 592 4/15 5/3 9/14 4/16 586 696 1504 592 8/6 1247 12/7 2075 8/10 1261 10/12 1744 11/17 1931 St4ff of Board of Governors: (continued) Secretary's Office: (continued) Carpenter, S. R.: (continued) 8/26 To discuss report on Board with Mr. Bach 8/6 Cook, Helen E., file clerk, salary increased 8/6 Davis, Elsie Q., file clerk, salary increased 8/16 Resignation accepted increased 2/20 salary Derr, Marion H., file clerk, increased salary 8/6 clerk, Devlin, Jeanette E., file Dippre, Doreen M., secretary to Mr. Hammond, transfer from Division of Research and Statistics 9/15 with salary increase approved 8/6 Farrington, Pearl E., file clerk, salary increased Fitzgerald, Frances S., General Assistant, application for retirement, effective September 1, 8/10 noted Hammond, Bray, coordination and exchange of information, 7/23 State Department to communicate with 10/11 Hatch, Cora Lee, file clerk, salary increased Hunter, Beatrice E., Assistant Chief of Files Section, 1/29 salary increased Jones, M. Elizabeth, Supervisor in Files Section, salary 4/16 increased 8/6 Kidd, Marjorie, file clerk, salary increased Krieger, D. Jeanne, General Assistant, salary increased 11/12 Leaman, Virginia E., clerk-stenographer, salary in2/20 creased Meiser, E. Katharine, secretary to Mr. Hammond, 9/1 resignation accepted 8/6 Holster, Margaret J., file clerk, salary increased Pelletier, Mrs. Ludmila Gloria, file clerk, appointment 1/20 on temporary basis and salary approved 4/8 Granted leave without pay for period March 1 - 26 5/11 Resignation accepted 4/16 Pilger, Mildred E., file clerk, salary increased 11/12 Salary increased Poeppel, E. Betz, Chief of Files Section, salary in8/6 creased Pye, Hazel H., Supervisor of File Rooms, salary in2/20 creased Searcy, Martha H., file clerk, appointment made per4/13 manent 6/11 Resignation accepted Sherman, Merritt, designation as alternate on Loyalty 1/6 Board To attend Chairmen's Conference meeting at White Sulphur Springs, lolest Va., as Secretary 5/7 11/9 Salary increased Sullivan, Mary W., file clerk, appointment made permanent 4/13 8/16 Resignation accepted on secretary to appointment Mr. Sherman, Wade, Earle J., temporary basis and salary approved 10/27 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 377 Pages 1387 1247 1247 1286 245 1247 1507 1247 1262 1162 1734 127 592 1247 1893 245 1416 1247 91 559 753 592 1893 1247 245 572 940 24 720 1881 572 1286 1825 378 Pages Staff of Board of Governors: (continued) Secretary's Office: (continued) 2/25 Vallace, Gladys W., file clerk, resignation accepted Watson, Mrs. Mary H., file clerk, retirement effective 6/16 July 1, 1948, noted Overdrawn sick leave and further required sick leave before retirement not to be charged 6/16 again db record Wike, Mabel E., file clerk, transfer from Division of Administrative Services and salary increase 6/30 approved 12/14 Williams, Mrs. Hazel, file clerk, resignation accepted 2/20 Yates, Aline L., Index Clerk, salary increased Separations: Gill, Mrs. Katie, cafeteria helper, termination of employment approved, special payment to be 1/30 made Howan, C. K., Asst. FRExaminer, resignation accepted, deduction to be made for overdrawn sick 2/19 leave, and separation allowance approved Taylor, Harry C., cafeteria helper, application for disability retirement, separation from service approved with special payment as separation 3/18 allowance Solicitor's Office: Chase, G. Howland, transfer as attorney from Counsel's 12/7 Office approved Colvin, Mrs. Frances C., secretary to Mr. Townsend, 12/9 transferred from Counsel's Office Townsend, J. Leonard, Solicitor, litigation and enforcement proceedings and holding company matters assigned to, dockets of Board meetings to be received and attendance at meetings 12/6 approved Transfer of attorney and secretarial or clerical personnel as requested by Solicitor to he 12/6 approved Teaching assignments, requests for permission to accept part-time, discussion, no change to be 9/7 made in present policy Telegraph operators: 10/12 Cooley, Leroy H., appointment and salary approved Telephone Operators: Griffith, Mrs. Flora J., Chief Operator, advance of sick leave, to be charged against leave 5/14 subsequently accrued 12 /10 increased Salary 4/28 salary increased Johnson, Mary E., 3/31 Seagle, Mary S., salary increased 9/27 accepted Resignation 1/29 Weikel, Mary A., salary increased http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 252 955 955 1063 2119 245 137 236 383 2084 2093 2061 2062 1444 1748 786 2102 683 492 1621 128 379 Pages Standard Oil Company: Regulation N, reply to inquiry from Employees Thrift Plan 12/24 concerning payments State bank supervisors: Bank holding company legislation, representatives to be 7/6 invited to attend mee'ing to discuss Bank of America expansion, Mr. Clayton to advise re Board's 8/20 position during Louisville meeting State bankers associations, practice of inviting officers to 2/19 have luncheon with Board discussed Official delegations to be invited to luncheon during visits 8/6 to T -ashington State Department: Exter, John, services to Ceylon, additional information sent 11/17 for transmission to Ceylon Government Hirschman, Albert O., economist, no objections to proposed 5/27 trip to France and Italy International conferences during 1950, reply to letter from 7/23 Mr. Peurifoy re Bequests for officers of FRBanks to go on foreign missions 4/7 should be submitted to Board Sherrard, Alfred, loan of services to, assignment not to be 3/29 accepted because of domestic situation State member banks: Almeda State Bank, Houston, Texas, application for membership approved, additional powers not to be exercised without permission of Board, permission granted to maintain same reserves as banks not in reserve or central reserve cities, and service of Mr. Keeland as director to be 9/28 brought into conformity with Clayton Act American State Bank, Great Bend, Kansas, no objection to purchase of assets and assumption of deposit lia3/5 bilities of Heizer State Bank,Heizeansas membership for Texas, application Lubbock, American State Bank, approved, additional powers not to be exercised without approval of Board and adequate 3/23 insurance to be maintained at all times 5/25 member as of FRSystem FDIC Certification to establishSan Francisco, California, Company, American Trust 1/2 ment of branch in Campbell, California San in to time branch establish of Granted extension 3/1 Bruno, California and Avenue of branch Geneva at establishment Temporary Rio Verde Street, San Mateo County, California, approved in connection with Junior 3/17 Livestock Exposition Sunnyvale, to in time branch establish of extension Granted 4/19 California Establishment of branch in Fairfield, Calif., approved in connection with purchase of assets and assumption of liabilities of Solano County 7/12 Bank http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2200 1086 1345 236 1235 1932 868 1162 554 473 1624 323 431 847 4 290 379 605 1107 380 Pages State member banks: (continued) American Trust Company, San Francisco, California:(continued) Granted extension of time for establishment of branch 8/6 in San Bruno, California and Geneva Avenue at branch of t establishmen Temporary Rio Verde Street, San Mateo County, approved10/15 Granted extension of time to establish branch in Sunnyvale, 10/21 California Tenn., Chattanooga, Company, American Trust and Banking application for fiduciary powers by American National Bank and Trust Company approved upon8/27 conversion from Bank of Carthage, Missouri, no objection to additional invest7/21 ment in banking premises Bank of New York and Fifth Avenue Bank, New York, N. Y., increased investment in bank premises ap11/3 proved Bank of Phoebus, Virginia, FRBank of Richmond authorized to furnish information to County Attorney for Elizabeth City County to be used in connection with criminal prosecution, examiners for FRBank of Richmond to appear as witness 3/25 to testify concerning matter Bank of Port Jefferson, New York, establishment of branch in Port Jefferson Station, N. Y., approved in connection with absorption of First National 4/30 Bank of Port Jefferson, N. Y. Bank of Sheridan, Montana, application for withdrawal from 1/12 membership approved Resolution to continue as member of FRSystem, number of directors to be increased to not less than 3/2 five Bankers Trust Co., New York, N. Y., private wire system inaugurated by, applicability of Regulation Q9/1 Bayonne Trust Company, Bayonne, N. J., absorption by Commercial Trust Company of New Jersey, Jersey 8/2 City, N. J. memfor Beach Bank, Jacksonville Beach, Florida, application 4/20 bership approved Belvidere State Bank, Belvidere, South Dakota, six months notice waived and immediate withdrawal from 6/24 membership approved continuance Permission granted to FDIC to examine for of insurance after withdrawal from member7/6 ship condiof Brecksville Bank, Brecksville, Ohio, cancellation 9/20 tion numbered 17 approved additional Conn., Company, Torrington, Brooks Bank and Trust 3/2 investment in banking quarters approved applicaTexas, Co. Trust Brownfield, Brownfield State Bank & 4/19 tion for fiduciary powers approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1248 1770 1796 1394 1143 1845 447 693 55 294 1421 1201 612 1019 1089 1537 291 605 381 Pages State member banks: (continued) Capon Valley Bank, Wardensville, Vest Virginia, investment for construction of new bank building 9/28 approved Central Bank, Grand Rapids, Michigan, application for mem2/20 bership approved Central Hanover Bank and Trust Company, New York, question of operation of private wire service involving payment of interest on deposits, mat7/1 ter referred to FRBank of New York memfor application Alabama, Calera, Bank, Central State bership approved, number of directors to 12/20 be increased to not less than five Central Trust Company, Cincinnati, Ohio, method of reporting certain reserves in condition and earnings reports, advice to MBank of 10/15 Cleveland re Chardon Savings Bank Company, Chardon, Ohio, penalty for 10/19 deficiency in reserves waived Childersburg State Bank, Childersburg, Alabama, application for membership approved subject to certain condition re paid-up and unimpaired capital stock, effective when bank is authorized to 9P3 commence business Citizens Trust Company, Atlanta, Georgia, application for membership approved, subject to condition re paid-up and unimpaired capital, savings accounts to be brought into conformity with 9/16 law and charter to be revived City Bank, Washington, D. C., reserve and central reserve city classification, reply to Mr. Burton 1/16 re published statement in Federal Register Cleveland Trust Company, Cleveland, Ohio, establishment of 5/7 branch at South Euclid, Ohio, approved Granted permission to establish branch in University 7/27 Heights, Ohio Request that FRBank of Cleveland hold Treasury bills in safekeeping for Bankers Trust Company, New York, FRBank to use own judgment re, matter to be placed on agenda for Presi8/31 dents Conference FRBank to use own judgment re safekeeping, matter to be 9/21 placed on agenda for Presidents Conference Columbia Bank of Ybor City, Tampa, Florida, application for membership approved, reduced number of 3/15 directors to be called to bank's attention 4/8 Granted extension of time to accomplish membership Columbus Trust Company, Newark, N. J., purchase of assets by United States Trust Company of Newark and operation of three offices in Newark 7/21 as branches approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1625 248 1070 2157 1771 1786 1604 1514 83 738 1170 1405 1560 366 561 1142 382 Pages State member banks: (continued) Commerce Union Bank, Nashville, Tenn., establishment of branch in Donelson, Tenn., approved in connection with proposed absorption of Bank of Donelson, Tenn., further expansion not to be approved unless bank's 5/6 capital increased of condition memberReply to letter re capital position, ship numbered 9 not to be cancelled until reduction of stock of Broadway National Bank 10/5 Commercial Bank of Delta, consolidation with Commercial Bank of Spanish Fork under name of Commercial 6/23 Bank of Utah, Spanish Fork, Utah with consolidation Commercial Commercial Bank of Heber City, Bank of Spanish Fork under name of Commer6/23 cial Bank of Utah, Spanish Fork, Utah capof remaining retirement Utah, Nephi, Commercial Bank of ital stock held by RFC, permission not required as reduction to be offset by increase in capital, more cautious lending policy 2/6 recommended Fork Spanish of Bank Commercial Consolidation with under name of Commercial Bank of Utah, 6/23 Spanish Fork, Utah Bank Commercial with consolidation Commercial Bank of Payson, of Spanish Fork under name of Commercial 6/23 Bank of Utah, Spanish Fork, Utah establishment Utah, Fork, Spanish Utah, of Bank Commercial of branches in Delta, Heber City, Nephi and Payson, Utah, approved upon consolidation of Commercial Banks of Delta, Heber City, Nephi and Payson with Commercial Bank of 6/23 Spanish Fork Commercial Bank, Waynoka, Oklahoma, application for membership 9/16 approved Commercial State Bank of Melvin, Illinois, six months notice 6/8 waived and immediate withdrawal approved of Permission granted to FDIC to examine for continuance 6/24 insurance after withdrawal from membership Granted extension of time to accomplish termination of 10/7 membership Granted extension of time to accomplish termination of 11/8 membership Commercial Trust Company of New Jersey, Jersey City, N. J., establishment of three branches at Bayonne, N. J., in connection with absorption of 8/2 Bayonne Trust Co., Bayonne, N. J., approved Community State Bank, Grandville, Michigan, permission granted to FDIC to examine for continuance of insur6/11 ance after withdrawal from membership for immediate application Six months notice waived and withdrawal approved 8/13 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 711 1704 1018 1018 161 1018 1018 1018 1515 921 1021 1715 1868 1201 941 1283 383 Pages State member banks: (continued) Condition reports, call as of December 31, 1947 Call as of April 12, 1948 Forms and instructions to be sent to FRBanks for next call date, advice to FRBanks Call as of June 30 Call as of June 30, information for current needs re-quested re Schedule B, U. S. Government obligations, advice to FRBanks Michigan, ouestion of joint publication, no objection to acceptance of current reports re reserves for bad debts, future reports to be prepared in accordance with Board's instructions Fall call not to be made, advice to FRBanks Forms and instructions to be sent to FRBanks for next call date ion to joint publication, but addition object no an, Michig to be made to State form if used Call as of December 31 ions Conditions of membership to be reviewed as to condit which should be cancelled recommended by FRBanks in connection with as lation Cancel amendment of Regulation H approved 1/2 4/14 6/8 6/30 922 1063 7/26 1165 7/9 9/9 1102 1471 11/8 1870 11/19 12/31 1947 2265 5/21 818 8/5 Connecticut: in accordCondition reports, no objection to publication 5/14 ance with proposed form member for ation Continental State Bank, Boise, Idaho, applic ship to be considered favorably, New Plymouth State Bank, New Plymouth, Idaho, to be absorbed and branch to be established at New Plymouth, and common capital to be increased 3/8 7/6 Application for membership approved ed approv Idaho, th, Establishment of branch in New Plymou in connection with absorption of New Plymouth 7/6 State Bank 7/16 ship member te Granted extension of time to comple al approv Board Bench, y Whitne Establishment of branch in 11/29 not required for to ion object no York, New , County Trust Company, White Plains change in location of branch office from waiting room of New York Central Railroad Station in Mount Vernon, N. Y., to 300 feet 6/17 away to ont Larchm and Kisco Mount Relocation of branches in 7/8 new quarters approved esMiss., n, y, Jackso Compan Deposit Guaranty Bank & Trust tablishment of branch in Clinton, Miss., approved in connection with proposed absorp9/1 tion of Bank of Clinton, Miss. ishestabl Ohio, town, Youngs y, Compan Dollar Savings and Trust ment of branch in Hubbard, Ohio, approved in connection with absorption of Hubbard Banking 12/14 Company http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 576 1231 786 331 1087 1088 1127 1989 962 1098 1420 2121 384 Pages State member banks: (continued) Duquesne City Bank, Duquesne, Pennsylvania, application for 10/18 membership approved ion permiss , Oregon d, Oaklan Bank, E. G. Young & Company granted to FDIC to examine for continuance of insurance after withdrawal from member5/6 ship awal from withdr ate immedi and Six months notice waived 12/17 membership approved for ctions instru and forms s, report Earnings and dividends 6/8 semiannual report to be sent to FRBanks ted sion reques permis York, New er, Ebenez Ebenezer State Bank, to exercise trust powers granted by State of New York, no objection to servicing of mort5/5 gages s and cturer by er Manufa Ebenez in branch of Establishment Traders Trust Company, Buffalo, New York, approved in connection with proposed absorp5/25 tion of ship for member ation applic Texas, , Dallas of Empire State Bank approved, subject to condition re paid up and unimpaired capital stock, fiduciary powers not to be exercised without permission of 1/5 Board 3/11 ship member lish accomp to time of ion Granted extens 6/16 ship member lish accomp to time of ion Granted extens Application for membership approved, standard condition 7/29 3 cancelled 8 /23 ship member lish accomp to time of ion extens d Grante 9/22 Certification to FDIC as member of FRSystem Examination reports, cannot be made available to surety 1/23 company by use ees, employ Data re salaries of bank officers and Chief Examiner Fenner, FRBank of Philadelphia, for discussion of personnel relations at con3/26 ferences authorized as ned maintai be to Examination schedule, annual examinations policy, letter to FRBanks requesting advice 8/3 as to developments Chairtime full ing Examination of, return to policy of appoint men and FRAgents to supervise, suggestion of Mr. Vardaman, recommendation to be submitted 12/21 by Messrs. Vardaman and Clayton memfor ation applic , Miss., Farmers and Merchants Bank, Forest bership approved, trust powers not to be exercised without permission of Board lt/ Additional investment in banking quarters approved , onal Dakota additi South Huron, Farmers and Merchants Bank, investment in banking quarters for expansion 8/31 and remodeling approved t ishmen rnia, establ Califo Lodi, of Farmers & Merchants Bank 5/21 of branch in Galt, California, approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1776 712 2153 924 704 846 9 352 959 1178 1353 1592 112 457 1204 2162 616 2181 1412 827 385 Pages State member banks: (continued) Farmers & Merchants Bank of Lodi, California: (continued) Granted extension of time to establish branch in Galt, 6/10 California First State Bank, Abilene, Texas, application for membership 11/3 approved, capital stock to be increased 11/22 Certification to FDIC as member of FRSystem First State Bank of Mounds, Illinois, no objection to investment in banking premises reported in examina11/17 tion report First Trust and Savings Bank of Pasadena, Calif., cancellation of certain conditions of membership in connection with amendment of Regulation H approved 8/5 Franklin Washington Trust Company, Newark, New Jersey, addi2/4 tional investment in bank premises approved of Mass., establishment Holyoke, Hadley Falls Trust Company, branch at Westover Field, Chicopee Falls, 10/11 Mass., approved notice months waived six Oregon, Halsey State Bank, Halsey, and immediate withdrawal from membership 3/15 approved Illinois, examination Harris Trust and Savings Bank, Chicago, 11/16 not to be made for present year Dollar by branch of Hubbard Banking Company, establishment Savings and Trust Company, Youngstown, Ohio, in Hubbard, Ohio, approved in connection with 12/14 absorption of addiIsland, Rhode Industrial Trust Company, Providence, tional investment for erecting building for 3/1 Apponaug Branch approved Establishment of branches in Central Falls and Pawtucket, Rhode Island, and additional expenditure for 9/23 banking quarters approved approved, application Oregon, Umatilla, Inland Empire Bank, to be entitled to benefits of deposit insurance under provisions of Section 12B of FRAct 3/8 Trust Company, Prospect Park, Penna. and Bank Interboro 10 penalty for deficiency in reserves waived Iowa Trust & Savings Bank, Estherville, Iowa, application 4/20 for fiduciary powers approved Jackson State Bank, Jackson, Wyoming, application for membership approved, subject to charge off of estimated losses, credit policy to be more conservative and periodic examinations re to 3/17 be made Kanawha Valley Bank, Charleston, Nest Virginia, no objection to continuation of trust powers acquired as result of merger with Central Trust Company, 11/15 Charleston, W. Va. Kinsley Bank, Kinsley, Kansas, six months notice waived and application for immediate withdrawal from 2/2 membership approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 931 1844 1954 1934 1231 l'A 1734 367 1926 2121 289 1605 330 1845 614 378 1903 138 386 Pages State member banks: (continued) Kinsley Bank, Kinsley, Kansas: (continued) Permission granted to FDIC to examine for continuance of insurance after withdrawal from mem4/26 bership notice months six cf waiver for granted Extension of time 6/1 for withdrawal from membership Granted extension of time to accomplish withdrawal from 8/5 membership La., s, Charle Lake y, Compan Lake Charles Bank and Trust application for fiduciary powers for Gulf National Bank at Lake Charles approved upon 12/22 conversion of State bank into for ation a, applic Montan us, Ignati Lake County Bank, St. 3/9 membership approved memfor tion applica Md., land, Cumber y, Liberty Trust Compan bership approved, subject to increase in capital stock and merger with Peoples Bank of Cumberland, Ma., retention of branch at 12/24 Lonaconing, Md., approved tion Regula Ky., ille, Louisv y, Compan Lincoln Bank and Trust 'Jr, reply to letter re repair and modernization 11/12 credits estabYork, New ter, Roches y, Compan Lincoln Rochester Trust lishment of two branches in Corning, New York, approved in connection with absorption of 1/9 Corning Trust Company Establishment of branch in Canandaigua, New York, in connection with proposed absorption of Ontario 3/2 County Trust Company, approved ary fiduci for ation a, applic , Indian Linden Bank, Linden State 12/1 powers approved Lynchburg Trust and Savings Bank, Lynchburg, Virginia, acceptance of checking accounts, no objec1/21 tion to York, New Manufacturers and Traders Trust Company, Buffalo, establishment of branch in Ebenezer, New York, approved in connection with proposed 5/25 absorption of Ebenezer State Bank 12/2 Branch waga No objection to change in location of Cheekto t of Marine Trust Company of Buffalo, New York, establishmen apYork, New nda, branch in Town of Tonawa 11/16 proved for ent investm a, Marion County Banking Company, Guin, Alabam 12/27 construction of new bank building approved ield, Smithf , orated Merchants and Farmers Bank, Incorp Virginia, investment in banking Quarters 8/5 approved of, ation examin ri, Missou City, Merchants Bank of Kansas information for FDIC to be developed by 2/12 FRBank of Kansas City examiners http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 653 893 1232 2181 342 2199 1895 51 293 2007 94 846 2028 1926 2205 1232 171 387 Pages State member banks: (continued) Merchants Bank of Kansas City, Missouri: (continued) Examination report, copies of memorandum re loan secured by capital notes of Bank of Odessa sent to 3/2 FDIC Metamora State Bank, Metamora, Ohio, application for membership approved, savings account to be brought 7/21 into conformity with regulations Mississippi Valley Trust Company of St. Louis, Mo., Regulation 10/26 W, reply to inquiry re balloon notes Monroe County Bank, Sparta, lvisconsin, application for membership approved, branch at Melvina, Vis., 8/20 to be discontinued Montclair Trust Company, Montclair, New Jersey, additional 12/16 investment in bank premises approved establishJersey, New Morristown Trust Company, Morristown, ment of branch in Township of Denville, New 10/21 Jersey, approved Pa., pergranted Philadelphia, Ninth Bank and Trust Company, mission to maintain same reserves as banks out3/29 side central reserve and reserve cities granted Pa., Philadelphia, North Philadelphia Trust Company, permission to maintain same reserves as banks 5/6 outside central reserve and reserve cities notice months North Side Bank, Evansville, Indiana, six waived and immediate withdrawal from member11/1 ship approved continuance for Permission granted to FDIC to examine of insurance after withdrawal from member11/5 ship deficiency for penalty Northern Bank, Milwaukee, Wisconsin, 6/9 in reserves waived appliVa., Warsaw, Bank, Incorporated, Northern Neck State cation for membership approved, additional powers not to be exercised without permission 7/12 of Board Ontario County Trust Company, Canandaigua, New York, establishment of branch by Lincoln Rochester Trust Company, Rochester, h. Y., in connection with 3/2 proposed absorption of Carolina, South Company, Trust and Pamplico, Bank Pamplico application for membership approved, requirements re savings deposit withdrawals to be brought into conformity with law and bank's attention to be brought to number of directors 3/17 Peninsula Bank of Ishpeming, Michigan, additional investment for alteration and improvement in banking 3/19 quarters approved Pennsylvania Company for Banking and Trusts, Philadelphia, Pa., no objection to review of report of examination of Security Bank and Trust Company by 10/28 representatives of http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 294 1142 1817 1350 2138 1795 476 710 1837 1863 927 1105 293 377 393 1831 388 Pages State member banks: (continued) Peoples Bank of Charles Town, Vest Virginia, application for membership approved, savings account to be brought into conformity with regu5/17 lations and capital to be increased Peoples Bank of Lakewood Village v Eccles, et al, suit regarding condition of membership, statement 3/18 to be published in FRBulletin Peoples Bank of Lakewood Village, California, cancellation of certain conditions of membership in connection with amendment of Regulation H approved 8/5 Establishment of branch at Village Road and Viking Way 12/16 permitted without approval of Board Peoples State Bank, Artesia, New Mexico, application for membership approved, subject to condition re 5/19 paid-up and unimpaired capital stock Application for membership approved, standard condition 7/29 3 cancelled /5 8 stem of member FRSy Certification to FDIC as of purchase Philadelphia, Penna., Provident Trust Company of assets and assumption of commercial department liabilities of Northern Trust Company, 7/2 Philadelphia proposed purchase City, Kansas, Kansas Riverview State Bank, of stock of trust company prohibited by Federal statutes 5/4 Sanborn County Bank, Woonsocket, South Dakota, permission granted to FDIC to examine for continuance 2/6 of insurance after withdrawal from FRSy stem Six months' notice waived and immediate withdrawal from 2/27 membership approved Security Bank and Trust Company of Beaumont, Texas, proposed investment in bank premises approved 3/10 Security Bank and Trust Company of Philadelphia, granted permission to maintain same reserves as banks outside central reserve and reserve 5/6 cities No objection to review of examination report by Pennsyl10/28 vania Company for Banking and Trusts Security State Bank of Basin, Wyoming, application for mem8/13 bership approved Security State Bank of Pecos, Texas, application for fiduciary 6/17 powers approved Security State Bank, Poison, Montana, application for membership approved, subject to charge off of losses, fidelity coverage to be increased and Articles of Incorporation to be amended 3/10 to provide for five directors 3/26 Granted extension of time to accomplish membership Security Trust and Savings Bank of San Diego, Calif., escrow funds to be classified as deposits on con4/21 dition reports http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 788 385 1231 2139 801 1178 1233 1077 701 160 262 347 710 1831 1283 964 346 457 617 389 Pages State member banks: (continued) Solano County Bank, Fairfield, Calif., establishment of branch in Fairfield by American Trust Company, San Francisco, approved in connection with purchase of assets and assumption of liabilities 7/12 1107 of Springfield Safe Deposit and Trust Company, Springfield, Mass., granted extension of time to establish branch 6/8 921 at East Longmeadow, Mass. Star Valley State Bank, Afton, Wyoming, application for membership approved, operations to be supervised more closely, question as to validity of 392 increases in bank's capital to be eliminated 3/19 5/27 873 Penalty for deficiency in reserves waived State Bank of Albany, New York, granted extension of time to 1/26 115 establish branch in Village of Menands approved Establishment of branch in Vatervliet, New York, in connection with absorption of National Bank of Watervliet, additional investment in bank premises also approved371 11/ /r? 1945 Additional investment in bank premises approved for fiduciary application State Bank of Carthage, Indiana, 11/8 1868 powers approved of insurfidelity question State Bank of Townsend, Montana, ance coverage, matter to be deferred until 6/23 1017 next examination Ohio, establishment Sylvania, Company, Sylvania Savings Bank of branch in Adams Township, Lucas County, 6/16 959 Ohio, approved to in branch Adams establish time of extension Granted 1997 11/30 Township, Lucas County, Ohio of New York, establishment Syracuse, Company, Syracuse Trust branch in Tully, New York, in connection with proposed absorption of First National 827 5/21 Bank of Tully approved Tennessee, audit by FDIC of certified statements submitted 12/21 2173 for assessment purposes by insured banks Tipton State Bank, Tipton, Iowa, six months notice waived and immediate withdrawal from membership 10/8 1727 approved Permission granted to FDIC to examine for continuance 1846 of insurance after withdrawal from FRSy stem 11/3 Trust Company of Georgia, Atlanta, Ga., custody receipts for collateral for loans, no objection to acceptance of receipt from, advice to 534 FRBank of Atlanta 4/5 Union Bank of Commerce Company, Cleveland, Ohio, reduction in capital to retire shares held by Union 2238 12/29 Properties, Inc., approved Union State Bank, Carrizo Springs, Texas, application for membership approved, fiduciary powers not to 361 3/12 be exercised without permission of Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 390 Pages State member banks: (continued) Union State Bank, Carrizo Springs, Texas: (continued) 3/25 Certification to FDIC as member of FRSystem Union Trust Company, Providence, Rhode Island, additional 8/27 investment in banking premises approved United Bank and Trust Company, St. Louis, Mo., examination of, violations of Federal statutes re misapplication of funds of member banks and political contributions by corporations, 12/15 advice to FRBank of St. Louis re reporting United States Trust Company of Newark, N. J., granted permission to purchase assets of Columbus Trust Company and to operate three offices in 7/21 Newark as branches Violations, criminal, of Federal banking laws occurring in, prosecution in U. S. district court rather than in State courts desired, letter to Attorney General in connection with ruling of 3/5 U. S. District Judge at Baltimore, Md. oachovia Bank and Trust Company, Anston-Salem, North Carolina, establishment of branch at 212 East Morehead Street, Charlotte, N. C., and a branch in Biltmore Village, Asheville, N. C., 2/4 approved Reserve requirements considered inequitable, question to 2/13 be studied further Granted extension of time for establishment of branch in 8/6 Charlotte, N. C. Granted extension of time for establishment of branch 9/23 in Charlotte, N. C. 7;addington Bank, Waddington, New York, application for membership approved, savings accounts to be 7/21 brought into conformity with regulations Vindsor Trust Company, Windsor, Conn., application for mem8/20 bership approved tell, use of bank credit to halt black market transactions in, reply to letter from Mr. Stremel 9/2 stenographic services: Transamerica Corporation, record of hearings, arrangements to be made by Counsel with Secretary's 5/27 Office Stenographic transcripts: McCabe, Thomas B., voucher for Hart, Alderson, McCabe & Harkins to cover cost of hearings on nom4/27 ination of, approved Eccles, Leedy, McCabe, Sproul, Young, Testimony of Messrs. and 'alliams before Senate and House Committees on Banking and Currency, payment to Hart, Alderson, McCabe and Harkins and to 8/27 Columbia Reporting Company approved Stewart, Rollin H., Regulation W, termination prospects, reply 12/9 to letter re http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 447 1397 2129 1142 325 145 177 1248 1606 1141 1349 1433 863 680 1398 2096 391 Pages Stewart, Samuel B., Jr., General Counsel, Transamerica Corporation, present at meeting to discuss proposed 9/10 bank holding company legislation g requestin Statement of Chairman McCabe re talk with, notice specific charges under complaint to be served 9/10 on Board to Shawmut StiMpson, Edward S., general voting permit granted Association, Boston, Mass., to be advised of 11/29 decision in spite of objections to Stock, capital: Accounts, declining ratio to deposits and loan accounts, shown in published statements, matter to be discussed by Mr. Vardaman with Mr. 1/30 Clayton further discussed be to Adequacy of capital funds of banks, by conference of Vice Presidents of Examination Departments, issuance of joint statement of examination policy to be discussed in con2/6 nection with meeting at May tion considera for Topic to be suggested 2/13 of FAC of meeting at mentioned not Question considered by Board 2/17 FAC because of lateness of hour Tynan by , Messrs. "Bank Capital: The Problem tiestated" Smith and Raymond E. Hengren of FDIC, reply to Mr. Hanl re use of capital to total assets 2/13 ratio re letter to , reply Tenn., Nashville Commerce Union Bank, capital position, condition of membership numbered 9 not to be cancelled until reduc10/5 tion of stock of Broadway National Bank capremaining of t Utah, retiremen Nephi, Commercial Bank of ital stock held by RFC, permission not required as reduction to be offset by increase in capital, more cautious lending policy 2/6 recommended p membershi for on Texas, applicati Abilene, Bank, First State 11/3 approved, capital stock to be increased for on applicati d, Maryland, Cumberlan Comparly, Liberty Trust membership approved, subject to increase in capital stock and merger with Peoples Bank 12/24 of Cumberland, Maryland Minimum required for membership in FRSystem, change proposed 1/"30 for banks subsequently chartered Ownership by officers of FRBanks, not approved, advice to 3/24 FRBanks Peoples Bank of Charles Town, W. Va., to be increased in con5/17 nection with membership in FRSystem to Han, FDIC, Mr. letter Ratio of capital to risk assets, concerning article "Bank Capital: The Problem 2/13 Restated" http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1484 1485 1991 136 157 182 217 184 1704 161 1844 2199 135 438 788 184 392 Pages Stock, capital: (continued) al banks, Requirements for establishment of branches by nation the Currency, change opposed by Comptroller of ed, draft action on legislation to be deferr of amendment to be prepared after adjournment 1/30 of Congress m of Discussion at Presidents Conference of proposed minimu $50,0001 legislation not to be presented to Congress at present session, draft of amendment to law to be prepared and to be sent to 2/27 FRBanks for consideration ts Proposed bill to modify, copy sent to FRBanks and commen 4/30 requested be to ents Presid of tions sugges , modify to Legislation considered in preparation of bill to be sub5/21 mitted to Congress ed discuss be to Legislation to eliminate statutory, matter 7/27 further in September or October ment impedi re ss Legislative proposals to be made to Congre to membership in FRSystem, advice to Bureau 11/30 of the Budget 12/1 change Discussion at Presidents Conference of need for stock of e Riverview State Bank, Kansas City, Kansas, purchas of trust company prohibited by Federal 5/4 statutes in ion reduct Union Bank of Commerce Company, Cleveland, Ohio, capital to retire shares held by Union 12/29 Properties, Inc., approved ary fiduci ted restric Wendell National Bank, Wendell, Idaho, authority to be granted upon advice of increase in stock and receipt of formal ap9/1 plication Stock exchanges: New York, applicability of Regulation T to transaction concerning purchase and sale of registered stocks in undermargined account, reply to letter 9/24 from FRBank of New York polis, Minnea y, Compan turing Manufac Stremell W. E., Stremel Bros. Minn., use of bank credit to halt black market transactions in steel, reply to letter re 9/2 Studies: s on Basing point pricing system in cement industry, effect of on questi of, t use order agains of South disbe to matter a, of Atlant FRBank by study conbe to and nce Confere ents Presid at cussed Dess Busine t ee Curren on Committ by sidered 9/29 velopments at meeting in Boston Mrs. James Branch Banking in California, reply to request of and Mrs. Rodd for photostatic copies of cer11/3 tain pages of on decisi Cement Company case, study of effects of Supreme Court re basing point pricing system, Current Business Developments Committee to be asked to 9/29 consider http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 132 281 694 817 1169 20,J0 2012 701 2238 1420 1616 1433 1628 1848 1628 393 Pages studies: (continued) Cement Company case: (continued) Discussion at Presidents Conference of making study, decision to be deferred until recommendation of 10/5 Committee on Current Business Developments Recommendation of Committee on Current Business Developments that FRBank of Atlanta be permitted to make, discussion, Mr. McCabe to discuss mat11/5 ter with Mr. Neely in Atlanta of Central banking seminar for university and college teachers Money and Banking, discussion of experimental session and expenses, Mr. Evans and staff members to study matter further and submit recom11/9 mendation and InterDebits and Clearings Statistics, Their Background pretation, by George Garvy, FRBank of New York, available for distribution, advice to 3/11 FRBanks assisted be to , Dizon and Martinez, Messrs., The Philippines 8/12 with studies, advice to Mr. Emilio Abello Economic basis of Federal Reserve policy, staff committee appointed to prepare draft of proposed statement and Board committee appointed for con10/12 sultation proposed FRBank of Boston, completion of study similar to one for FRBank of Atlanta re use of basing point 9/29 pricing system in cemnnt industry college of FRaystem, courses, discussion of bringing groups instructors to Aashington for, in connection with public relations campaign, matter to be 10/5 discussed further with Mr. Young Board of, list selected on Foreign countries, financial data to assist 1.1ar Department in preparation, with exception of Japan and Germany, advice 5/4 to Colonel Ennis branch executive of n of organizatio study Hoover Commission, of Government, questionnaire re Government lending, material requested by Mr. Sproul 5/14 to aid in work as member of Office Secretary's contact with maintain to Mr. Bach and other staff members if necessary for 5/18 assistance for approved letter Government lending, re re Questionnai 5/27 sending material requested by Mr. Sproul Information re Board members and divisions sent to Mr. 7/1 Bach for use in connection with Report on international activities of Board prepared 7/20 for Mr. Miller in connection with Report on Board prepared by Mr. Bach for committee on Independent Regulatory Commissions, question of comment by Board, additional copies to be requested and Mr. Szymczak to talk with Mr. McCabe, staff members to discuss matter with Mr. Bach 8/26 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1701 1856 1875 356 1273 1744 1629 1690 703 780 794 861 1073 1137 1383 394 Pages Studies: (continued) Hoover Commission: (continued) Statement of Mr. Szymczak re talk with Mr. Bowie and Chairman McCabe, matter to be placed on 8/31 docket for September 7 9/7 Mr. Bach to discuss with Board Members of g meetin at ally inform sed discus be to re Questions 11/15 FAC, views to be given by Mr. McCabe of ent statem Bach, by Mr. ed prepar d Study on FRBoar 11/16 FAC re objectionable points Mr. on, study d revise Aid, n and Foreig ces National Resour Garfield designated as Board representative 10/26 on committee working on National Security Resources Board, re wartime economic stabilization, reference to approval and employment of Mr. Musgrave in connection 10/8 with inary Wartime economic stabilization, special prelim report approved, more comprehensive report 10/12 to be submitted later ence Retirement system benefits, report of President's Confer Committee on Personnel received, procedure re, interim reports to be made to Chairman 10/5 of Chairmen's Committee Life Savings, sponsored by American Life Convention and Insurance Association of America, Mr. Riefler not to preside at meetings of advisory com9/14 mittee to ve Musgra Mr. Wartime economic stabilization, services of be used for, compensation and travel expenses 10/1 approved ces Resour ty Securi al Board to cooperate in work of Nation Board, interim statement to be submitted by 10/1 Board SuPreme Court: susBasing point pricing system in cement industry, decision l Federa of order desist and taining cease on questi of, use t agains Trade Commission 9/29 of study of effects on South SlIrveys: staff members Committees of outside organizations, service of matter to and made be to of Board on, survey 124 ber Septem in g meetin at be considered ed approv work y mentar , supple Consumer Finances, 1948 Survey and budget of Division of Research and Statis2/16 tics to be increased to cover an Michig of sity to Univer letter , Survey Third National 5/6 accepting agreement covering be to ations negoti ized, author survey Fourth nation-wide 7/12 made with University of Michigan Sentence to be inserted in proposal before approval, advice to Mr. Briggs, University of Michigan 10/6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1410 1447 1899 1916 1816 1725 1738 1683 1500 1665 1670 1628 1365 190 718 1107 1712 395 Pages Surveys: (continued) Consumer Finances: (continued) rs, Data to be provided for Council of Economic Advise 10/14 Nourse Mr. to advice by survey nding, outsta of credit s Export bills and letter FRBank of New York, reply to letter from 7/20 Mr. Richards re value of information ves of FRBanks, field surveys of operations, representati on of Divisi with ipate partic to FRBanks up taken be to matter ions, Bank Operat ence Confer ents Presid of an Chairm with Committee on Operations to determine pos11/23 sibility of arrangements for and ments depart ment Govern other of International offices agencies, survey of salary structure in relation to International Section of Board's Research Division requested by Mr. Knapp, 5/14 memorandum referred to Personnel Committee tics, and Statis International section of Division of Research review of salaries and organization to be 6/11 made by Mr. Johns than e of more Member banks which are depositing daily averag 300 cash items payable in territory of another FRBank or Branch, report covering 12/9 week requested 12/14 Retail credit, continuation to cover 1948 approved ed prepar Statistical agencies of Federal Government, report for Commission on Organization of the Execu6/28 tive Branch of the Government 1758 1138 1963 778 938 2097 2127 1058 Tables: t table on Loans, losses and recoveries, requests for curren bad debts, for reserve method of accounting 12/14 Louis St. instructions to FRBank of tion Regula Mo., Tabor, John T., Seven-Up Company, St. Louis, automatic vending machines not listed articles 8/26 under, advice to T axation: FRBank of Boston, employment of Mr. Noonan to resist real 6/2 estate tax assessments Platt a an Austri of Mayer Meyer FRBank of Chicago, employment and attorney Marshall V. Kearney as special 6/2 counsel in tax matter for and ts paymen tax H. R. 4790, to reduce individual income other purposes, request from Bureau of the Budget for report, letter opposing general reduction of taxes at present to be revised 3/30 and resubmitted to Board other for and ts tax paymen income To reduce individual purposes, Board opposed to enactment, report 3/31 to Bureau of the Budget http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2123 1391 895 896 481 488 396 Pages Taxation: (continued) ent Regulation W I loan for payment of special tax or assessm ments, against real property to cover improve advice to FRBank of San Francisco re 11/1 applicability s article of on exempti re tionW Regula Sales, amendment to selling for ,GP,50 or more only because of 12/17 inclusion Taylor, Ralph H., residential buildings, reply to inquiry re regulations requiring down payments on 2/12 purchase Telecoin Corporation: Regulation W I applicability to Bendix Automatic 1,1asher 10/15 Commercial Model C Tennessee: assessAudit by FDIC of certified statements submitted for ental experim ment purposes by insured banks, FRBanks to program to be extended to, advice 12/21 of Atlanta and St. Louis mainTennis courts, expenditure for restoring surface and for tenance of courts and equipment approved, 5/7 Reserve Board Club to continue supervision Territories of U. S., activities of FRSy stem in, reply to letter 7/9 from Mr. Davis, Department of Interior 1840 2154 172 1772 2173 731 1103 : Texas Registered mail service to South High Plains Area, improvement requested by FRBank of Dallas, letter to 5/6 Mr. Lawler, Post Office Department to bility Thiele Joe 1%!. Regulation V, reply to letter re applica 9/24 demonstration of washing machines T homson, Cameron, President of Northwest Bancorporation, invitation for Board representative to attend meeting at Treasury re bank holding company legisla6/8 tion holding of n of questio Bank holding company bill, discussion meeting with to discuss enactment of, Chair6/23 man McCabe to study matter further holding bank in ted Discussion of meeting of groups interes 7/6 company legislation company holding d bank propose discuss Present at meeting to 9/10 legislation Time schedules: Arrangement of, clarification by footnotes suggested by 10/5 Presidents Conference method and time in nce items, differe Deferred credit country of determining deferred availability, to be referred to committee on collections of 6/2 Presidents' Conference Timmermann, G. J., Regulation WI reply to inquiry re delivery 10/12 in anticipation of instalment credit sale http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 717 1619 915 1015 1084 1483 1677 896 1752 397 Pages Titles: Economists at FRBanks, changes with official status recommended by FRBank of Chicago, to be placed 9/14 on agenda for Presidents Conference with officers as Chicago of at FRBank Salaries approved 10/20 titles of Senior Economists part as used not e" "alternat FRAgents Representative, rord 2/17 of title s, economist top of FRBank of Chicago, change of titles Messrs. Garver, Hoadley, and Mitchell with official status recommended, to be con9/14 sidered at Presidents Conference of Board to Assistant to Thurston, Elliott, title changed 1/30 Governors Tobwr, Senator Charles V., Transamerica Corporation and Bank of America N. T. & S. A., request for copies of correspondence and other relevant material affecting interests of, in connection with testimony on nomination of Mr. McCabe, Mr. Townsend and someone else from Legal Division to talk with Mr. L'Heureux before preparation 3/24 of letter acno re, on informati for request on, Transamerica Corporati tion to be taken to confer with Mr. L'Heureux and no reply to be made until discussion of 3/25 matter with Chairman Eccles requested companies holding bank re on Statistical informati 3/25 by Mr. Hickok for thesis, reply to letter discuson, Corporati ica Transamer re on Request for informati sion of material to be sent, Messrs. Vest 3/26 and Townsend to prepare draft of letter in ng originati dence correspon recent ing Letter transmitt November 1947 sent, request for all relevant material made to Chairman Eccles by telephone and also by second letter, reply to be prepared containing additional informa3/29 tion , Letter delivered to Senator Tobey, advice in Secretary's Note 3/29 'railer coach financing, reply to letters from Mr. Theodore 4/26 Bargman and Hon. Raymond H. Burke Trailer Coach Manufacturers Association, reply to letter on applicability of Regulation W to instalment 9/24 sales of trailer coaches Transamerica Corporation: Antitrust litigation against, report of Mr. Townsend on status 4/2 of investigation be to of tion report against, investiga g proceedin Antitrust 5/25 made by Mr. Townsend 5/26 Report of investigation by Mr. Townsend To be instituted, letters of advice to be sent to Attorney General, Comptroller of the Currency and Chairman of FDIC, Messrs. Evans, Clayton, and Townsena to recommend action as to procedural ques5/26 tions to be considered http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1498 1791 219 1496 136 433 444 448 451 463 471 654 1618 521 840 849 855 398 Pages Transamerica Corporation: (continued) Antitrust proceeding against: (continued) 5/27 Procedure approved ncy, Curre the Advice to Attorney General, Comptroller of 5/27 and FDIC of decision to institute to s Issuance of complaint and notice of hearing, copie be sent to Attorney General, Comptroller of the Currency, Chairman of FDIC, and President of FRBank of San Francisco, no publicity to be 6/23 given to case 's Reply to letter from Mr. Giannini questioning Board authority to institute, approved after dis8/3 cussion and advice of Mr. Townsend , ssion Commi Copy of complaint requested by Federal Trade 8/3 to be sent upon receipt of formal request of ent lishm Discussed in connection with proposed estab 8/6 branches in Germany by Bank of America ted expec be to Cooperation of Comptroller of the Currency in, statements of Messrs. Clayton and Townsend 8/24 re conference ncy, Curre the of Conference re to be held with Comptroller 9/10 FDIC, and Attorney General's Office and FDIC, Conference with Comptroller of the Currency, Department of Justice, report of Mr. Clayton re, discussion of use of examination reports 9/20 in connection with disn, latio Possible effect on bank holding company legis 9/21 cussion at FAC meeting of place in e Request for public hearing and for chang hearing, action deferred until meeting on October 1, Chairman McCabe at liberty to discuss matter with Secretary of the Treasury, Comptroller, and Chairman of FDIC, comments 9/29 of Mr. Thurston to be requested but g hearin public for st reque Order approved granting 10/1 not for change in place 10/1 ved appro Procedure for hearing naexami to tion no A., objec Bank of America N. T. & S. tion of correspondence between FRBank of San Francisco and Bank of Italy in 1917-1920 re establishment of branches, advice to 10/1 FRBank of San Francisco Court ict in Distr be filed to Complaint for injunction by Mr. Stewart, discussion of matter with Chairman McCabe, action re postponement of hearing to be deferred pending legal steps by, attorneys to confer with Board's Counsel 10/8 in future rather than with Board members el Couns 's Board r to with ca confe ameri Attorneys for Trans 10/8 in future rather than with Board members chalin, e rs to cipat membe parti Board Qualifications of lenge by Transamerica to be made at proper 10/8 time http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 862 864 992 1207 1212 1236 1366 1480 1533 1589 1633 1648 1658 1667 1718 1720 1720 399 Pages Transamerica Corporation: (continued Antitrust proceeding against: (continued) ized Complaint for injunction filed by, Mr. Townsend author Judge to file moticn to dismiss and to ask 10/11 Morris to set date for early hearing Motion to show cause in connection with complaint for injunction, filed by Mr. Townsend, hearing 10/12 set for October 20 decition, injunc for int s compla dismis to motion s Board' 10/22 sion by Judge Morris to be expected soon on Complaint for injunction dismiEsed, hearing to be held December 7, notice and press statement 11/5 approved Chairby ation legisl company holding bank of ion Discuss 11/15 man McCabe with Mr. L. M. Giannini ain Conference with Mr. Delano to be arranged to ascert 11/16 extent of assistance in discus n, Motion to disqualify Messrs. Eccles and Clayto sion and decision for both Board members to 12/3 disqualify themselves s motion all in Motion re hearing and determining issues 12/3 of Transamerica before hearing, filed by of tion Motion filed requesting production for inspec Board minutes, records, and papers in motion 12/3 Townsend, J. Leonard, title to be changed to Solicitor 12/3 in connection with work tion t disposi Moticn to disqualify Mr. Clayton, no presen to be made of, but Mr. Clayton to refrain 12/6 from participation in oral for Statement and order of Board denying motion argument and determination of motions not filed and motion for production of material 12/6 in Board's files 1948, 11, er on Decemb held be Order that oral argument 12/6 in Vashington 12/6 ry necessa to incur zed authori Expenses, Mr.. Evans Travel expenses, special provision for, including apartment and travel expenses for wives, recommendation to be submitted by Personnel 12/6 Committee oral year, of first after resumed be Hearing re, to arguments on motions filed by Corporation 12/7 to be held on December 1U, 1948 11, er Decemb on on nt motions argume Order to hold oral 12/7 1948, approved 11 r Decembe nt from argume oral for date Order changing 12/8 to December 13, 1948, approved in n ify Clayto Mr. to disqual motion e Order to includ 12/10 list for oral argument, approved filed s motion on nts made argume oral Board, Hearing at by, brief to be filed by Mr. Stewart, answer to be filed by Mr. Townsend, and then Board to consider matter, transcript of arguments 12/13 filed http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1729 1738 1802 1858 1901 1924 2041 2041 2042 2043 2055 2056 2059 2060 2060 2072 2083 2092 2106 2108 400 Pages T ransamerica Corporation: (continued) Antitrust proceeding against: (continued) Travel expenses for Board personnel in connection with 12/20 hearing approved FRBank by ed absorb be to es expens travel Hodge, Paul C., 12/20 of Chicago g holdin for able market y readil as Assets, not considered 3/5 company affiliate for voting permit ent statem to, tion opposi ation, Bank holding company legisl 9/10 of Mr. Townsend after conference re ce ponden of corres ation examin A., S. 84 Bank of America N. T. between FRBank of San Francisco and Bank of Italy in 1917-1921 re establishment of branches, 9/29 no objection to cy the Curren of oller Comptr of n izatio author Branch banks, for establishment of additional, Mr. Clayton to prepare letter to Comptroller stating views of Board in view of complaint against Trans8/17 america be to s charge ic Complaint against, notice requesting specif served on Board, statement of Mr. McCabe re 9/10 talk with Mr. Stewart denyse Demand for additional details re, Board's respon 9/21 ing request approved from ts Conference with Comptroller of the Currency, excerp 8/24 minutes to be sent to absent Board members izaauthor re Expansion of, statement in Vashington Times-Herala tion by Treasury for establishment of additional branches, discussion of matter with Mr. Delano in absence of Mr. Snyder, no reply to be made in press, letter to be prepared for 8/19 Comptroller for ry Treasu by n Articles in Times-Herald re authorizatio additional branches, no press statement to be issued in connection with, advice of 8/20 Secretary of the Treasury onal additi for cy of Curren the Authorization by Comptroller branches of Bank of America, discussion in light of complaint issued against, letter to Comptroller to be redrafted by Messrs. Clayton, 8/20 Thurston, Leonard, and Baumann ille at Louisv isors superv bank Mr. Clayton to advise State 8/20 meeting of Board's position re re cy Curren the of to oller Comptr 1942 agreement, letter present status to be drafted by Messrs. 8/20 Clayton, Thurston, Leonard, and Baumann in es, branch ic of t domest ishmen establ Board opposed to view of complaint issued against, advice to 5/23 Comptroller of the Currency, copy to FDIC 1942 agreement still in effect, letter to Comptroller g23 of the Currency re, copy sent to FDIC http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2159 2159 324 1484 1632 1319 1485 1550 1371 1325 1339 1339 1345 1345 1360 1361 401 Pages Transamerica Corporation: (continued) Expanìsion: (continued) Conference of Messrs. Clayton and Townsend with Comptroller of the Currency re approval of further branches, statements of Messrs. Clayton and Townsend re, cooperation of Comptroller to be expected in Clayton Act proceeding 8/24 Reply from Comptroller of the Currency to Board's letters re 8/31 1942 agreement among three Federal bank supervisory agencies, memo to be prepared by staff re and suggesting replies to be made to letters from Comptroller of the Currency 8/31 1942 agreement, preparation of memo by Staff to be deferred pending report on proposed conference 9/10 1942 agreement re, preparation of memorandum by Staff not to be made and no reply to be made to letters of Comptroller of the Currency 9/20 Giannini, L. M., hospitalized in Washington, Chairman McCabe to telephone and issue invitation to call at Board 9/10 Question of visit with Mr. McCabe during time in Washington, report of Mr. Coleman re telephone conversation with 9/21 9/29 Report of telephone conversation with Mr. Coleman Monopolistic characteristics of banks belonging to, figures of time and demand deposits of individuals, partnerships, and corporations held by branch 1/9 banking systems by counties to be obtained Readily marketable assets, stock of Occidental Life Insurance Company, Pacific National Fire Insurance Company, General Metals Corporation, and Columbia River Packers Association, Inc., and convention6/28 al mortgage loans, not classed as 9/7 Reply to letter concerning question of Relations with Board, statement of Mr. Stewart re desire for 9/10 better correspondTobey, Senator Charles W., request for copies of ence and other relevant material affecting interests of, in connection with testimony on nomination of lir. McCabe, Mr. Townsend and someone else from Legal Division to talk with Mr. L'Heureux before preparation of letter 3/24 to re, no taken information action to be Request for confer with Pir. L'Heureux and no reply to be made until discussion of matter with 3/25 Chairman Eccles Discussion of material to be sent, Messrs. Vest and 3/26 Townsend to prepare draft of letter http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1366 1402 1402 1480 1532 1485 1559 1632 45 1055 1459 1485 433 444 451 402 Pages Transamerica Corporation: (continued) Tobey, Senator Charles 1!.:(continued) Letter transmitting recent correspondence originating in November 1947 sent, request for all relevant material made.to Chairman Eccles by telephone and also by second letter, reply to be prepared containing additional information 3/29 Letter delivered to Senator Tdbey, advice in Secretary's Note 3/29 Voting permits, granted limited permit to vote stock of Bank of Newman, California, and First National Bank of Crows Landing, California 3/17 Travel expenses: Advance of funds, Division of Administrative Services authorized to make up to $500 10/18 Authorization requests, submission to Personnel Committee for approval before going to Board, arrangement to be continued, discussion in connection with case of Mr. Harley 4/2 Authorizations, procedure for approval and monthly reports approved and regulations amended 11/19 Automobile, amendment to increase allowance to 6-1/20 approved 5/25 Board members, authorization by Personnel Committee, objection of Mr. Vardaman to, question of procedure to be referred again to Personnel Committee for recommendation 9/21 Cherry, A. K., expenses in connection with hegulation W to be charged to Division of Bank Operations 10/28 attendance at conference of D. C. Bankers Lawrence, Clayton, Association at 'White Sulphur Springs, payment to Mr. Dooley approved in connection with 4/29 Eight days per diem authorized in connection with trip 6/28 to New England 10/11 Payment of hotel bill approved Connell, J. J., advance of funds in connection with Functional Expense Survey at FRBank of New York approved 6/8 Copeland, Morris A., to receive when called to act as Consultant during 1949 12/13 Dons, Fred A., FRExaminer, headquarters to be changed from Chicago to Washington, D. C., and reimbursement to be made for moving expenses 3/18 Examiners, ERBank of Minneapolis, for assistance in examination of Seattle and Portland Branches, vouchers approved 6/11 Exter, John, payment of claim for flight insurance and *12 per diem while in Shanghai approved 6/1 Trip to Ceylon, procedure for reimbursement of part of mission and payment of others approved, 11/17 advice to State Department http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 463 471 379 1777 527 1951 838 1550 1830 691 1053 1736 921 2112 382 947 893 1932 403 Pages Travel expenses: (continued) Exter, John: (continued) Advance of funds in connection with trip to Ceylon approved Franzoni, John C., granted additionafleave and reimbursement for expenses for 1948 session of Graduate School of Banking Gerschenkron, Alexander, to assist with orientation of new employee, compensation and travel expenses approved Goodman, Glenn M., reimbursement for expenses in connection with examination of National Bank of Haiti and advance of funds approved Grove, David L., payment of claim for flight insurance and $12 perclem while in Shanghi approved Harley, Charles R., economist, trip to United Kingdom to study economic and financial developments approved, per diem of $9 during time in London authorized Hersey, Arthur B., mission to Japan, discussion of per diem allowance Granted advance of funds in connection with trip to Japan Hirschman, Albert O., economist, trip to France and Italy approved, traveling expenses to be paid Hodge, Paul C., Technical and Legal Advisor to Mr. Evans, expenses in connection with Transamerica proceeding to be absorbed by FRBank of Chicago Horbett, John E., granted additional leave and reimbursement for expenses for 1948 session of Graduate School of Banking Hurley, J. J., additional payment on account in connection with Transamerica investigation approved FRBank of Kansas City, to work in ChairC., Delos Johns, man's Office at Board for 60 to 90 days, salary and expenses to be paid by Bank except for official travel during stay at Board Kenyon, Kenneth A., granted additional leave and reimbursement for expenses for 1948 session of Graduate School of Banking Lewis, Dale M., Chief, Regulation W Section of Division of Bank Operations, moving expenses to be paid by Board and special allowance pending establishment of family in 'Washington approved Lohmann, M. R., Consultant, employment on temporary basis and salary approved, traveling expenses and per diem to be granted Masters, Robert C., FRExaminer, to be reimbursed for cost of moving household goods from Boston to Washington http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/2 1/14 2027 65 12/8 2090 3/4 303 6/1 893 4/2 527 5/14 782 5/14 787 5/27 868 12/20 2159 1/14 65 5/7 739 4/29 690 1/14 65 9/23 1602 4/9 565 11/12 1892 404 Pages Travel expenses: (continued) ngton for Murray, Professor William, to be invited to 7ashi st agriMidwe of rence confe discussion of paid 546 4/7 be to ses expen , cultural economists tted submi be to tion menda recom Official coordinated program, by Mr. Vardaman, discussion in connection with question of public addresses by board 2079 12/7 members and staff 's Board in es chang Per diem allowance, recommendation re regulations to he made by Personnel Com5/14 784 mittee l de trave inclu to s ation regul Regulation V work, amendment to of employees engaged in review of procedures conducted by Division of Bank Operations 10/20 1794 approved ses expen l trave for er vouch of Riefler, Winfield W., payment in connection with trip to Hot Springs, il Va., for meeting of Business Advisory Counc 1/10 1890 approved nt on accou nt payme ional addit , miner Thompson, Andrew N., FRExa ion in connection with Transamerica investigat 5/7 739 approved for rized autho of diem per al Townsend, J. Leonard, speci forthcoming trip to Vest Coast in connection with Transamerica investigation, additional 532 4/2 payment for trip dring March authorized r, matte america Trip to West Coast in connection with Trans 7/2 1081 ved appro l2 of per diem 10.1 ca ameri Trans Per diem of $12 for trips in connection with 1769 /5 case approved dinclu for, Transamerica Corporation case, special provision , ing apartment and travel expenses for wives nnel Perso recommendation to be submitted by 12/6 2060 Committee / 2 0 12 ved 2159 appro with Expenses for Board personnel in connection with ction conne Wilkes, M. R., reimbursement for expenses in and examination of National Bank of Haiti 3/4 303 advance of funds approved diem per of Young, Ralph A., mission to Japan, discussion 782 5/14 allowance to trip Granted advance of funds in connection with 787 5/14 Japan ny Compa Tour of meat industry as guest of Armour and 9/21 approved, expenses to be paid by Board 0 ved 1 1/ appro ; 5 Advance of funds for tour of meat industry Travel regulations: Mr. Vardaman Board members' official trips, recommendation of ttee not be Commi that approval of Personnel nnel ComPerso to required, matter referred 1498 9/14 mittee al2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 405 Pages Treasury bills: Rate, increase, discussion of point in Secretary Snyder's letter, question to be discussed with executive committee of FOMC before preparation of reply to letter re Treasury financ8/10 ing d Clevelan Safekeeping by FRBank of Cleveland, request of Trust Company, FRBank to use own judgment re, matter to be placed on agenda for 8/31 Presidents Conference Bequest of Cleveland Trust Company, FRBank to use own judgment re, matter to be placed on agenda 9/21 for Presidents Conference in bank member to Safekeeping by FRBank for member bank sold another district under repurchase agreement 10/5 Treasury Department: Anti-inflation program, action to increase reserve requirements for central reserve city banks deferred 7/23 pending response as to increasor reducing re Balances in war loan accounts, policy ing, Mr. Thomas to discuss matter with Mr. Rouse before working out program with 12/3 Bartelt to letter in, Brazilian Mission, participation of FhSystem 7/15 Mr. Southard re Messrs. Moore and Grove by shipment for Currency, procedure for preparing new paper registered mail, copy of letter sent to 12/27 FRBanks for comments to receipts tax Debt, FRBank and banks, use of surplus from 2/17 redeem, recommendation of FAC discussed permonths three FRnotes, interest rate, establishment for iod ending December 31, 1947, advice to 1/2 FRBanks 31, March ending period Establishment for three months 4/27 advice to FRBanks memoon, discussi in, n reductio Interest charge payment, randum to be prepared for Board members, matter to be placed on docket for future 5/25 consideration addition but changed, be to not ent arrangem Existing to reserves for contingencies to be made instead, Treasury and FRBanks to be advised, and matter to be placed on agenda for 6/25 next ?residents Conference 7/23 Establishment for three months period ending June 30 Establishment for three months' period ending September 30, to provide for increased deduction for 10/27 contingent reserves, no objection by Interest payment to, reply to inquiry from Mr. Falkner 12/16 C. Broach Fiscal agency expenses, request that FRBank absorb, topic 6/25 for discussion at Conference of Presidents 11/8 Procedure for acting on requests for FRBanks to absorb http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1254 1405 1560 1682 1150 2034 1120 2206 198 5 679 840 1030 1155 1823 2140 1051 1869 406 Pages Treasury Department: (continued) Foreign funds control, release, statement to be published in March issue of FRBulletin 2/25 Statement to be published in FRBulletin 8/26 Statement to be published in FRBulletin 9/30 Home Loan Bank System legislation, amendment to authorize purchase of obligations, discussion of Mr. Pace with Mr. Lynch, representatives to talk with Messrs. Wood and Solomon before further discussion with Mr. Pace 9/20 Amendment to authorize Treasury purchase of obligations, memorandum from Messrs. Young, Solomon, and Wood re discussion with Messrs. Lynch and Ranta of the Treasury, draft of statute to be prepared and presented to Board 10/1 H. R. 2799, to make changes in operations of Federal Home Loan Banking System, views re, Mr. Clayton to talk further with 5/10 Loans to Federal Home Loan Banks and Federal Savings and Loan Insurance Corporation, draft of bill to 12/16 authorize Payment of 90 per cent of net earnings, discussion at Presidents Conference of plan for changing arrangement, matter to be considered further 5/21 Personnel files, procedure followed upon receipt of requests for information from Congressional committees, discussion in connection with case of Lauch8/25 lin Currie Reserve requirements, proposed increase, discussion of matter by Messrs. Thomas and Young with Mr. Bartelt, statement of Mr. Szymczak 9/7 Memorandum re proposed schedule of calls on war loan deposits to minimize large temporary additions to supply of, discussion of program outlined in, 12/17 copy placed in files Reserves for contingencies, addition to be made rather than to change existing 90% arrangement, advice to be sent to 6/25 Additional, Mr. Bartelt informed of decision to set aside from second quarter earnings of FRBanks 7/23 Retirement of bills while maintaining balances at FRBanks, statement in memorandum of Mr. Thomas, discussion 11/23 Retirement of premiums on Government securities, provision to be made before payment to Treasury for first quarter of 1948, discussion at Presidents Conference, matter to be discussed 2/27 with Savings bond campaign, payment by FRBanks of cost of one dinner in each district in connection with approved, discussion at Presidents Conference 12/1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 255 1392 1647 1531 1666 744 2140 819 1377 1450 2149 1030 1156 1968 287 2022 407 Pages Treasury Department: (continued) Savings Bond Division, meeting of State Chairmen of Advisory Committee, dinner to be given at 10/13 one of liashington hotels for Savings bond sales manual, additional payment by Board for 4/26 publication approved Savings bonds, reference to be made in talks of staff of 5/27 Board to, advice to Mr. Clark Security loan drive, FRBanks to cooperate by extension of facilities to 4/5 Board to cooperate during campaign, advice to President of United States 5/7 Transamerica Corporation, authorization for additional branches, no press statement to be issued in connection with articles in Times-Herald, advice of Secre20 tary, statement by Mr. Szymczak Expansion of, discussion of agreement re in connection with statement in press re authorization for establishment of additional branches by Bank of America, discussion of matter with Mr. Delano in absence of Mr. Snyder, no reply to be made in press, letter to be prepared 8/19 for Comptroller Treasury financing: Program for September and October, letter of Secretary Snyder re, discussion of points, draft of reply to be prepared by Mr. McCabe commenting on bill rate and increase in member bank reserve 8/10 requirements increasing Reply to letter from Secretary of Treasury re of short-term rate on Treasury certificates, etc., approved by executive committee of 8/11 FOMC and Board of cost pay to campaign, FRBank Philadelphia of Savings Bond printing copies of address by Mr. 1,4illiams 10/19 for distribution during Savings bonds, special effort by Treasury to sell, recommenda2/17 tion of FAC discussed Trust accounts: Hartford National Bark and Trust Company, Hartford, Conn., proposal to set up partnership to act as nominee for registration of securities in, 1/9 not in violation of Regulation F Trust departments: Reserves for contingent losses, letter to Mr. Stephenson on furnishing information from examination re11/18 ports Trust funds: Common: City National Bank of Philadelphia, Penna., proposed fund being considered by Pennsylvania Bankers Association, classification not applicable under Regulation F, Mr. Reeve to be advised 11/29 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1757 655 874 539 736 1339 1330 1254 1265 1784 198 50 1941 1988 408 Pages Trust funds: (continued) Common: (continued) Ruling re section 17(c)(5) of Regulation i to be published 8/27 in FRBulletin, advice to FRBanks U. S. Savings Bonds, consideration as readily marketable securities under Regulation F authorization, reply to inquiry from Mr. Charles L. Kaufman 1/16 Valuation in, statement to be published in FRBulletin, 3/24 letter to FRBanks enclosing copy Series G, question of being readily marketable securi6/15 ties for, advice to FEBank of Boston Deposit in member bank's own banking department in single time deposit, open account, or in single savings deposit, ruling to permit under Regulation D, draft of letter re sent to FRBanks for con11/19 sideration and comments University of Michigan: Consumer Finances, Third National Survey, letter accepting agreement covering Fourth nation-wide survey authorized, negotiations to be made with Sentence to be inserted in proposal before approval, advice to Mr. Briggs 82 441 953 1945 5/6 718 7/12 1107 10/6 Vandenberg, Senator Arthur H., statement re foreign deposits in United States by National Advisory Council to, opposition of FAC, discussion at meet2/17 ing with Board Vaults: Detroit Branch, no objection to expenditure for construction 3/12 FRBranch banks, discussion of thickness of walls to be approved, letters to FRBanks of Atlanta, 4/2 Chicago, and San Francisco to be prepared in walls concrete to 30-inch no objection Branch, Jacksonville 4/12 new building Veterans: H. R. 4488, to amend Servicemen's Readjustment Act of 1944, Board not in favor of enactment, advice to 1/6 Bureau of the Budget Veterans' of to Administrator authorize amendment Proposed Affairs to charter and supervise "veterans' homestead associations", Board opposed to enactment, letter to Hon. Edith Nourse Rogers4/19 H. R. 5120, to amend Servicemen's Readjustment Act of 1944, Board not in favor of enactnent, advice to 3/2 Representative Edith Nourse Rogers Vinson, Fred M., discussions with Mr. Eccles re agreement in 1942 concerning expansion of Transamerica Cor8/20 poration http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1396 1712 193 364 503 571 24 606 296 1341 409 Pages Violations: Criminal: Bank of Phoebus, Virginia, FI-Bank of Richmond authorized to furnish information to County Attorney for Elizabeth City County to be used in connection with criminal prosecution, examiners for FRBank of Richmond to appear as 3/25 witnesses to testify concerning matter banking Procedure for reporting violations of Federal laws involving FRBanks or State member banks, revision as result of enactment by Congress 8/19 of New Criminal Code, advice to FRBanks published be Criminal Code, amendments to FRAct, statement to 8/26 in FPBulletin of banks Federal banking laws occurring in State member FRSystem, prosecution in U. S. district court rather than in State courts desired, letter to Attorney General in connection with ruling of U. S. District Judge at 3/5 Baltimore Regulation U: Bergen Trust Company, Jersey City, N. J., FDIC examiners to check carefully in future examinations 11/16 for compliance Regulation V: Cooperation of FDIC and Comptroller of the Currency requested re enforcement, copies of Outline of Enforcement l'rogram sent to "essrs. harl 9/16 and Delano of rs 6nperviso of on issociati Cooperation of National 9/16 State Banks requested re enforcement to letters in requested nt Cooperation re enforceme Federal Security Agency, Home Loan Bank 9/17 Board, and Department of Agriculture budget balanced York, ilew of of Bank Commerce l Industria 12/28 plan to be checked Section 24A of FRAct: First State Bank of Mounds, Illinois, investment in banking premises, no objection under cir11/17 cumstances United Bank anu Trust Company, St. Louis, Mo., violations of Federal Statutes re misapplication of funds of member banks and political contributions by corporations, advice to 12/15 FRBark of St. Louis re reporting Visits: Board members to FRBanks, discussion as means of improving 12/7 public relations FRBank officers or directors, notice to Board members to he made by Secretary's Office without put4/2 ting on daily list http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 447 1335 1392 325 1927 1517 1521 1526 2228 1934 2129 2080 502 410 Pages Visits: (continued) Ross, Mr., from heserve Bank of New Zealand, teleram to 6/7 Mr. Fussell re Visits to foreign countries: FRB,nk of New York, foreign travel program for 1948, reply 4/2 to proposed plans m to Harley, Charles h., economist, trip to United Kingdo study economic and financial developments 4/2 approved and to Italy Hirschman, Albert 0., proposed trip to France visit central banks, discussion, Messrs. Thomas and Knapp to discuss matter with 4/2 Mr. Thorp of State Department 5/27 Trip approved, traveling expenses to be 1- aid ed Rosa, Robert V., trip to London and the Continent approv 5/7 after consideration of further information 8/5 Voting leave, approved for all election days Voting permits: American National Bank of San Bernardino, Calif. determined to be holding company affiliate only for purposes of secticn 23A of FRAct and permit not necessary to vote stock of American 1/8 National Bank of Big Bear Lake, Calif. d grante First Bank Stock Corporation, Minneapolis, Minn., general permit to vote stock of First 7/30 Naticnal Bank of Hopkins, Minn. d limite d National Shawmut Bank of Boston, Mass., grante permit to vote stock of Somerville 1/9 National Bank, Somerville, Mass. ille Somerv of Granted general permit to vote stock 11/29 National Bank, Somerville, Mass. d grante Minn., polis, Northwest Bancorporation, Minnea general permit to vote stock of Billings 9/9 State Bank, Billings, Montana permit d limite d , grante Dallas of Bank Republic National 1/9 to vote stock of three national banks d limite d grante , Texas, y, Dallas Compan al Republic Nation permit to vote stock of three national 1/9 banks permit Shawmut Association, Boston, Mass., granted limited to vote stock of Somerville National Bank, 1/9 Somerville, Mass. Granted general permit to vote stock of Somerville National Bank, Somerville, Mass., Mr. Fdward 11/29 S. Stimpson to be advised of decision d grante Transamerica Corporation, San Francisco, California, limited permit to vote stock of Bank of Newman, California, and First National 3/17 Bank of Crows Landing, California Vouchers: Examiners, FRBank of Minneapolis, for assistance in examination of Seattle and Portland Branches, 6/11 approved http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 904 529 527 523 868 722 1230 28 1186 53 1990 1473 53 53 53 1991 379 947 411 Pages Vouchers: (continued) Harris & Ewing, voucher for photographs of Board members, payment approved Hart, Alderson, McCabe & Harkins, voucher approved to cover cost of stenographic transcript of hearings on nomination of Mr. McCabe Walkers' Manual, Inc., San Francisco, California, Clayton Act proceedings by Board, policy of Board re confidentiality, no record at present to be sent out, advice to Ar. Reynolds 9/8 4/27 680 9/2 1435 War: Monetary field, actions to be taken in event of outbreak, special report to National Security 1C/12 hesources board Economic Some suggestions for the Development of an Stabilization Program for a 1w4ir Emergency, memo of Mr. Griffith Johnson, comments of Board on sections re monetary matters before consideration by National Security itesources 8/31 Board War Department: Foreign countries, financial data on selected list of, Board to assist in preparation, with exception of Japan and Germany, advice to Colonel 5/4 Ennis in arise may that issues War emergency, special report on monetary field, to be made by Mr. Musgrave 10/1 War loan accounts, discussion at FAC meeting in connection with recommendations of credit policies dur2/17 ing present economic situation War loans: Deposit accounts, exemption from reserve requirements and FDIC insurance, discussion in connection with emergency legislation to be drafted 4/14 by National Security Resources Board to loan California, Richmond, in Bank National First Minton Construction Company guaranteed by War Department under hegulation V, Board not to intercede in case, advice to FRBank 6/18 of San Francisco in or increasing re reducing policy balances, Treasury accounts, Mr. Thomas to discuss matter with Mr. Rouse before working out program 12/3 with Mr. Bartelt V-loan procedure, reply to letter from Mr. James P. Orchard, 7/27 re reinstatement of V-loan program, guarantee of war contract loans, Board interested in having included in draft of legislation to cover emergency, informal statement to be made to Mr. Kendall, 4/14 National Security Resources Board http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1469 1738 1412 703 1665 198 580 974 2034 1172 580 412 Pages War loans: (continued) V-loan program: (continued) Drafts of legislation to be submitted to National Security Resources Board and Counsel to collaborate with in working out desirable 5/10 changes to n, reply Warner, Frank, Secretary, Iowa Bankers Associatio letter from nonmember bank re Regulation W 11/24 Washington Banktrends, request of Mr. 'Alilcox for information on meeting at Treasury on bank holding company 6/8 legislation of Washington Times Herald, article on statement by official Board on approval by Treasury of additional 8/19 branches for Bank of America N. T. & 6. A. America of Bank Article on establishment of branches by N. T. & 6. A., no press statement to be 8/20 issued by Secretary of Treasury Lands, Public on Committee Welch, Richard J., Chairman of House reply to inquiry re value of property of 2/18 FRBoard owned by Federal Government Ur, Mo., Regulation City, Kansas Western Auto Supply Company, plan proposed re rental and sale of electric 11/10 ironers, advice to FRBank of Kansas City Johnson, Mr. to successor possible as mentioned White, Mastin G., 3/9 Counsel at FRBank of Dallas Chicago, n, Associatio ers Manufactur Coach Trailer IA.lson, E. L., Illinois, reply to letter re applicability 9/24 of Regulation 14 to trailer coaches Wire service, private, operation as payment of interest on 7/1 deposits, question raised by several banks on luncheon for invited be to n, Associatio Bankers Wisconsin 2/4 March 11 Withdrawals from membership: Bank of Sheridan, Montana, application approved, effective 1/12 June 30, 1948 of number Resolution to continue as member of FRSystem, directors to be increased to not less than 3/2 five months Belvidere State Bank, Belvidere, south Dakota, six notice waived and immediate withdrawal 6/24 approved of e Permissicn granted to FDIC to examine for continuanc 7/6 insurance after withdrawal Commercial State Bank of Melvin, Illinois, six months notice 6/8 waived and immediate withdrawal approved of e Permission granted to FDIC to examine for continuanc 6/24 insurance after withdrawal of -m terminati. Granted extension of time to accomplish 10/7 membership of n terminatio to time accomplish Granted extension of 11/8 membership http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 751 1977 915 1325 1339 222 1888 335 1618 1070 145 55 294 1019 1089 921 1021 1715 1868 413 Pages Withdrawals from membership: (continued) Community State Bank, Grandville, Michigan, permission granted to FDIC to examine for contin6/11 uance of insurance after withdrawal Six months notice waived and application for immediate 8/13 approved E. G. Young & Company Bank, Oakland, Oregon, permission granted to FDIC to examine for continuance of insurance after withdrawal from member5/6 ship 12/17 Six months notice waived and immediate approved Halsey State Bank, Halsey, Oregon, six months notice 3/15 waived and immediate withdrawal approved Kinsley Bank, Kinsley, Kansas, six months notice waived 2/2 and application for immediate approved 8 /5 time to accomplish Granted extension of continuance for examine to Permission granted to FDIC 4/26 of insurance after months six of waiver for Extension of time granted 6/1 notice for notice six months Indiana, North Side Bank, Evansville, 11/1 waived and immediate withdrawal approved continuance for to examine FDIC to Permission granted 11/5 of insurance after withdrawal permission Dakota, bouth Woonsocket, Sanborn County Bank, granted to FDIC to examine for continuance 2/6 of insurance after withdrawal immediate and waived notice Six months' 2/27 approved waived notice months six Iowa, Tipton, Bank, Tipton State 10/8 and immediate approved continuance for examine to permission granted FDIC 11/3 of insurance after withdrawal Wolverton, Charles A., S. 2564, exemption of securities issued by International Bank for Reconstruction and Development, Board in favor 5/6 of enactment, advice to Wright, Irwin D., Chief National Bank Examiner, present at conference re Transamerica Corporation 9/20 proceeding http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 941 1283 712 2153 367 138 1232 653 893 1837 1863 160 262 1727 1846 712 1533
@FedFRASER